News Archives - Insurance Journal

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28 07, 2022

California City Paying $1.5M to Fired Police Chief After Verdict

By | July 28th, 2022|Uncategorized|Comments Off on California City Paying $1.5M to Fired Police Chief After Verdict

The Oakland City Council approved a $1.5 million payout for a former police chief who won her whistleblower claim against the city after she alleged she was fired for calling out unethical behavior by the civilian commission that oversees the …

25 07, 2022

Insurers Weigh Covering Ukraine Grain Shipments After Deal to Re-open Black Sea Ports

By | July 25th, 2022|Uncategorized|Comments Off on Insurers Weigh Covering Ukraine Grain Shipments After Deal to Re-open Black Sea Ports

A number of insurance underwriters are interested in providing cover for grain shipments from Ukraine after an agreement was reached to re-open Black Sea ports, although the first shipments are expected to be weeks away, industry sources said on Friday. …

28 07, 2022

Chubb Increases Loss Cost Trends ‘Rather Than Be Lagging and Get Caught’: Greenberg

By | July 28th, 2022|Uncategorized|Comments Off on Chubb Increases Loss Cost Trends ‘Rather Than Be Lagging and Get Caught’: Greenberg

Chubb CEO Evan Greenberg said the insurer is seeing favorable returns, but additional rate is needed to “keep pace with loss costs, which are hardly benign.” Greenberg said during the July 27 call to discuss second-quarter earnings that Chubb has …

25 07, 2022

New Orleans Man Latest to be Sentenced in Staged Auto Accident Case

By | July 25th, 2022|Uncategorized|Comments Off on New Orleans Man Latest to be Sentenced in Staged Auto Accident Case

United States Attorney Duane A. Evans announced that Larry Williams, age 49, of New Orleans, was sentenced last week for Conspiracy to Commit Wire Fraud, in violation of Title 18, United States Code, Section 371, arising out of a staged …

28 07, 2022

Judge Questions 3M’s Use of Bankruptcy to Fight Veterans’ Suits

By | July 28th, 2022|Uncategorized|Comments Off on Judge Questions 3M’s Use of Bankruptcy to Fight Veterans’ Suits

The federal judge administering more than 230,000 lawsuits against 3M Co. questioned whether the industrial giant acted in good faith when it decided to try to shift the cases to bankruptcy court instead of facing separate jury trials around the …

25 07, 2022

London’s Financial Center Struggles to Find Its Way in Post-Brexit Britain

By | July 25th, 2022|Uncategorized|Comments Off on London’s Financial Center Struggles to Find Its Way in Post-Brexit Britain

London is in danger of becoming a mere “regional stock market” down the line unless it significantly raises its game — that is the warning from Mark Austin, the latest person charged with sprucing up the UK’s listing rules and …

28 07, 2022

Hilb Group Acquires King and Cushman Agency in Massachusetts

By | July 28th, 2022|Uncategorized|Comments Off on Hilb Group Acquires King and Cushman Agency in Massachusetts

The Hilb Group has acquired Massachusetts-based King and Cushman Agency, further expanding the company’s presence throughout New England. Based in Northampton, King and Cushman has served the area for nearly 100 years, offering personal and commercial property/casualty insurance. Agency Principal …

25 07, 2022

Illinois Tornado Snaps Trees, Damages Roofs

By | July 25th, 2022|Uncategorized|Comments Off on Illinois Tornado Snaps Trees, Damages Roofs

The National Weather Service has confirmed that a small tornado touched down in suburban Chicago Saturday. Snapped trees and minor damage to roofs in Naperville were reported Saturday, meteorologist Todd Kluber said. The tornado touched down about 5:40 a.m. and …

28 07, 2022

Lemonade Closes Deal for Auto Insurer Metromile

By | July 28th, 2022|Uncategorized|Comments Off on Lemonade Closes Deal for Auto Insurer Metromile

Digital insurer Lemonade said it has closed of the acquisition of pay-per-mile car insurance provider Metromile in an all-stock transaction. Metromile shareholders received 7.3 million Lemonade shares, while Lemonade received a business with over $155 million in cash, over $110 …

25 07, 2022

Ukraine Works to Resume Grain Exports as Russia Confirms Missile Strike on Odesa

By | July 25th, 2022|Uncategorized|Comments Off on Ukraine Works to Resume Grain Exports as Russia Confirms Missile Strike on Odesa

Ukraine forged ahead on Monday with efforts to restart grain exports from its Black Sea ports under a deal aimed at easing global food shortages but said a weekend missile strike by Russian forces on Odesa underlined the risks to …