News Archives - Insurance Journal

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16 12, 2022

Tornadoes, Storms Leave Trail of Destruction From New Orleans to Great Plains

By | December 16th, 2022|Uncategorized|Comments Off on Tornadoes, Storms Leave Trail of Destruction From New Orleans to Great Plains

A vast and volatile storm system ripping across the U.S. killed at least three people in Louisiana, spinning up tornadoes that battered the state from north to south, including the New Orleans area where memories of 2021’s Hurricane Ida and …

16 12, 2022

Oil Tanker Owners Show Signs of Shunning Russia’s Crude in Response to G-7 Sanctions

By | December 16th, 2022|Uncategorized|Comments Off on Oil Tanker Owners Show Signs of Shunning Russia’s Crude in Response to G-7 Sanctions

There are tentative signs that oil tanker companies are avoiding sending their ships to collect crude from a key Russian port in Asia following G-7 sanctions targeting Moscow’s petroleum revenues. Since Dec. 5, buyers of cargoes from Russia have only …

16 12, 2022

NC Lawmaker Calls for Removal of State Disaster Recovery Director

By | December 16th, 2022|Uncategorized|Comments Off on NC Lawmaker Calls for Removal of State Disaster Recovery Director

North Carolina lawmakers rebuked the state’s disaster recovery director — with one calling for her removal — for the agency’s slow progress amid years-long delays that have left some low-income homeowners in temporary lodging for up to six years after …

16 12, 2022

U.S. House Backs Major $34 Billion Texas Storm Surge Protection Project

By | December 16th, 2022|Uncategorized|Comments Off on U.S. House Backs Major $34 Billion Texas Storm Surge Protection Project

Fourteen years after Hurricane Ike ripped through thousands of homes and businesses near Galveston, Texas — but mostly spared the region’s oil refineries and chemical plants — the U.S. House of Representatives voted Thursday to authorize the most expensive project …

16 12, 2022

West Virginia Puts All DMV Transactions Online, Speeding Process for Motorists, Insurers

By | December 16th, 2022|Uncategorized|Comments Off on West Virginia Puts All DMV Transactions Online, Speeding Process for Motorists, Insurers

West Virginia plans to speed up the process for motorists doing vehicle registrations and other transactions with the state. Gov. Justice Jim Justice said Wednesday that the Division of Motor Vehicles will expand its internet portal services for residents, vehicle …

16 12, 2022

Michigan Ex-Boy Scout Leader Sentenced on Sex Abuse Charges

By | December 16th, 2022|Uncategorized|Comments Off on Michigan Ex-Boy Scout Leader Sentenced on Sex Abuse Charges

MOUNT CLEMENS, Mich. (AP) —A former troop leader was sentenced to 12 to 20 years in prison Wednesday after pleading guilty to two counts of criminal sexual conduct stemming from Michigan’s review of child sexual abuse lawsuits against the Boy …

16 12, 2022

Texas Republicans, Financial Executives Spar Over Climate Actions

By | December 16th, 2022|Uncategorized|Comments Off on Texas Republicans, Financial Executives Spar Over Climate Actions

Financial executives and Texas state senators clashed over company concerns for climate change at a hearing on Thursday, a rare in-person confrontation as Republicans ramp up attacks on the use of environmental, social and governance (ESG) factors in investing. Texas …

16 12, 2022

RiverStone Enters Loss Portfolio Transfer Reinsurance Agreement With AXIS Capital

By | December 16th, 2022|Uncategorized|Comments Off on RiverStone Enters Loss Portfolio Transfer Reinsurance Agreement With AXIS Capital

RiverStone International, the Bermuda-based acquirer and reinsurer of legacy and discontinued insurance business, announced it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS Capital Holdings Ltd. The LPT agreements cover several of its professional lines …

16 12, 2022

Lawsuit Against State Farm Alleges Racial Discrimination in Claims Handling

By | December 16th, 2022|Uncategorized|Comments Off on Lawsuit Against State Farm Alleges Racial Discrimination in Claims Handling

State Farm’s claims handling process is the subject of a new lawsuit alleging disparities between the insurer’s treatment of claims from Black policyholders versus claims from white policyholders. The suit filed Dec. 14 against State Farm Fire & Casualty Company …

16 12, 2022

People Moves: EMC Appoints Pulkstenis CUO; 2 Senior Hires at Cover Whale

By | December 16th, 2022|Uncategorized|Comments Off on People Moves: EMC Appoints Pulkstenis CUO; 2 Senior Hires at Cover Whale

EMC Appoints Eduard Pulkstenis SVP, Chief Underwriting Officer EMC Insurance Companies has named Eduard Pulkstenis as senior vice president – chief underwriting officer. Pulkstenis will oversee all aspects of the corporate underwriting function, including strategic direction, product development, and underwriting …