Industry News
Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103%
Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103 percent. Citizens Property Insurance ...
The Latest Launches From Insurity, Coalition, Draftrs
Insurity, a provider of cloud-based software for insurance carriers, brokers, and managing general agencies, announced its Sure Underwriting Workbench solution is the first of its cloud-based ...
Swiss Re Faces $6.3M Claim Over Sex Discrimination, Unfair Dismissal
A former Swiss Re underwriter, who last year won a sex and maternity discrimination and unfair dismissal case, is seeking 5.1 million pounds ($6.3 million) in compensation and told a London court she ...
PG&E Pledges $18 Billion to Cut Wildfire Risk in California
PG&E Corp. plans to invest $18 billion in wildfire prevention through 2025 following back-to-back seasons of devastating blazes linked to the utility's network of wires and other ...
Chocolate Factory Blast Highlights Combustion Risks
Last week's fatal blast at a Pennsylvania chocolate factory highlighted the combustibility of food plants in general and chocolate making in particular. The powerful explosion last Friday at R.M. ...
Boy Scouts of America Bankruptcy Plan Upheld Despite Insurers’ Objections
A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America's nearly $2.5 billion reorganization plan approved last year to allow the organization ...
Supercell Storms to Hit South More Often: Study
America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently ...
First Citizens Bank to Acquire Most of Collapsed Silicon Valley Bank
North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this ...