News Archives - Insurance Journal

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3 06, 2024

5 Killed in Fiery Crash on South Carolina Coastal Road

By | June 3rd, 2024|Uncategorized|Comments Off on 5 Killed in Fiery Crash on South Carolina Coastal Road

ST. HELENA ISLAND, S.C. (AP) — Five people, including a 4-year-old, were killed during a fiery three-vehicle crash near the southern South Carolina coast, authorities said Thursday. The South Carolina Highway Patrol said a BMW was traveling south Wednesday night …

3 06, 2024

After First Net Loss Since 1923, USAA Back to Profit in 2023

By | June 3rd, 2024|Uncategorized|Comments Off on After First Net Loss Since 1923, USAA Back to Profit in 2023

USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based reciprocal exchange said revenue was up 17% year-over-year to …

3 06, 2024

Firefighters Battle California Wildfire with Hot Weather in The Forecast

By | June 3rd, 2024|Uncategorized|Comments Off on Firefighters Battle California Wildfire with Hot Weather in The Forecast

Firefighters battling a California wildfire burning east of San Francisco have increased containment on the fire, but hot weather is in the forecast for the next few days. Nearly 500 firefighters, along with several air tankers from throughout the state …

3 06, 2024

Universal Says it Completed Reinsurance Program with only a Slight Bump in Cost

By | June 3rd, 2024|Uncategorized|Comments Off on Universal Says it Completed Reinsurance Program with only a Slight Bump in Cost

Universal Insurance Holdings, the publicly traded parent of one of Florida’s largest property insurers, said it has completed its reinsurance program for its two subsidiaries ahead of the June 1 renewal. “For this renewal, we approached the market with considerably …

3 06, 2024

American Airlines Sued for Removing Black Passengers From Flight

By | June 3rd, 2024|Uncategorized|Comments Off on American Airlines Sued for Removing Black Passengers From Flight

American Airlines was accused in a lawsuit on May 29 of race discrimination for temporarily removing three Black men from a flight from Phoenix, Arizona, to New York City. In a complaint filed in federal court in Brooklyn, the plaintiffs …

3 06, 2024

Manufacturer Faces $222K Fine for Worker’s Severe Burns at Ohio Facility

By | June 3rd, 2024|Uncategorized|Comments Off on Manufacturer Faces $222K Fine for Worker’s Severe Burns at Ohio Facility

One of the world’s largest and best-known tool and equipment manufacturers could have prevented a 29-year-old maintenance electrician from suffering severe burns during an electrical arc blast at a company facility in Willard if required safety standards were followed, a …

3 06, 2024

RiverStone Acquires Electric Insurance; Plymouth Rock Gets Renewal Rights

By | June 3rd, 2024|Uncategorized|Comments Off on RiverStone Acquires Electric Insurance; Plymouth Rock Gets Renewal Rights

RiverStone International reports it has closed on its acquisition of Electric Insurance Co. and its two subsidiaries, Elm Insurance Co. and Electric Insurance Agency. Electric Insurance is a Beverly, Massachusetts-domiciled insurer licensed in all 50 states and the District of …

3 06, 2024

Report: Cost of Prescriptions in Workers’ Comp on The Rise

By | June 3rd, 2024|Uncategorized|Comments Off on Report: Cost of Prescriptions in Workers’ Comp on The Rise

While overall utilization is trending downward, cost of prescriptions in workers’ compensation is on the rise, driven by “high-dollar topical agents” that primarily come from out-of-network channels, as well as increased utilization and spend on migraine medicines, and rising trends …

3 06, 2024

Kansas Workers’ Comp Bill Increases Some Benefits, Streamlines Processes

By | June 3rd, 2024|Uncategorized|Comments Off on Kansas Workers’ Comp Bill Increases Some Benefits, Streamlines Processes

Kansas Governor Laura Kelly last week signed Senate Bill 430, bipartisan legislation making comprehensive reforms to the state’s workers compensation system. The bill, a result of collaboration between business and labor, provides coverage for members of the Kansas National Guard …

3 06, 2024

Louisiana Law That Limits Filming of Police Violates First Amendment, Attorneys Say

By | June 3rd, 2024|Uncategorized|Comments Off on Louisiana Law That Limits Filming of Police Violates First Amendment, Attorneys Say

A new Louisiana law that makes it a crime to approach within 25 feet (7.6 meters) of a police officer under certain circumstances is an affront to the movement for racial justice and violates the First Amendment, civil rights attorneys …