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News – Insurance Journal
Hungary’s Surprise Veto of $1B Aegon Deal with Vienna Insurance Sparks Dutch Outcry
The Dutch government has raised concerns with Hungarian officials after a decision in Budapest to block the sale of Aegon NV’s local unit to Vienna Insurance Group AG, according to several people familiar with the matter. The issue was communicated …
POSTED APRIL 20, 2021 7:52 AM |
Insurer for Georgia City to Pay $1.7M to Business Owner in Harassment Suit
A suburban Atlanta barbecue restaurant owner will get $1.7 million to settle a federal lawsuit claiming he was harassed by government officials and employees. The city of Stockbridge’s insurer will pay the money to Arick Whitson, owner of Georgia Championship …
POSTED APRIL 20, 2021 5:56 AM |
First United Insurance Division Rebrands as Unity Insurance Partners
Unity Insurance Partners is now the name of the insurance division at Plano, Texas-based financial services firm, First United. First United’s insurance division originated from three different insurance companies that have been combined over several years. The company said the …
POSTED APRIL 20, 2021 5:49 AM |
Florida Drives Toward Repeal of Motor Vehicle No-Fault Law
After many years of trying, Florida is closer than ever to repealing its 50-year-old motor vehicle no-fault law. However, many industry stakeholders have expressed opposition to the legislation passed by the Florida Senate last week and its companion bill approved …
POSTED APRIL 20, 2021 5:42 AM |
Unhappy New Year. Insurers Report Estimated Q1 Catastrophe Losses.
Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The Allstate Corp. said it had nearly $1.7 …
POSTED APRIL 20, 2021 5:00 AM |
How Meatpacking Plants’ COVID-19 Cases Hurt Counties
An estimated 334,000 COVID-19 cases are attributable to meatpacking plants, resulting in $11.2 billion in economic damage, according to a new study led by a researcher at the University of California, Davis. The study was published in the journal Food …
POSTED APRIL 20, 2021 5:00 AM |
With Claims Rising, Cyber Insurers Need More Than Sizable Rate Increases: Fitch
Cyber insurance underwriters are reporting substantially higher claims losses in 2020 than in prior years and as a result face increasing profit pressure. insurers will have to achieve both significant premium rate increases and tighter coverage terms in order to …
POSTED APRIL 20, 2021 5:00 AM |
Digital E&S Broker Pathpoint Releases Lessor’s Risk Commercial Package
Pathpoint, a digital excess and surplus lines insurance distributor, has launched its Lessor’s Risk Only (LRO) Commercial Package for agents to access non-admitted coverage for property owners with a single application. The Pathpoint’s LRO product includes a shortened, targeted question …
POSTED APRIL 20, 2021 4:59 AM |
70 Homes Across Mississippi Damaged by 4 Tornadoes
Four tornadoes that moved across Mississippi earlier this month caused damage to around 70 homes, emergency officials said Thursday. Four businesses and three farms were also damaged. There have been no reports of injuries or fatalities, officials said. The storms …
POSTED APRIL 20, 2021 4:23 AM |
Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm
As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February. That number reflects preliminary results from a data call issued February 26 to property and …
POSTED APRIL 20, 2021 12:40 AM |
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