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News – Insurance Journal
Nonprofits Insurance Alliance of California Declares $3M Dividend for 2019
Nonprofits Insurance Alliance of California has declared a $3 million dividend in 2019. The group will issue the dividend to its qualifying member-insured 501(c)(3) nonprofits renewing their policies from June 1, 2019, to May 31, 2020. NIAC’s dividend plan issues …
POSTED APRIL 23, 2019 5:40 PM |
Southern California Agent Arrested for Bogus Policy Scam
Angel Estrada, 22, a formerly licensed insurance producer and owner of Angel Estrada Agency, swindled a national insurer out of more than $140,000 in commissions by writing bogus commercial insurance policies to earn large commissions, the California Department of Insurance …
POSTED APRIL 23, 2019 5:34 PM |
Everest Launches Lawyers Professional Liability Policy
Everest Insurance has released a new lawyers professional liability policy – Everest Elevation – designed to provide law firms with liability coverage for financial loss suffered by third parties arising from acts, errors, and omissions in providing legal services. Everest …
POSTED APRIL 23, 2019 4:59 PM |
Duke Energy to Appeal Order to Excavate North Carolina Coal Ash
The country’s largest electric company says it’s challenging an order by North Carolina’s environmental agency to excavate coal ash from all of its power plant sites in the state. Duke Energy Corp. said April 11 it will file an administrative …
POSTED APRIL 23, 2019 4:42 PM |
California Insurance Commissioner Rejects Petition to Require Fossil Fuel Underwriting Disclosure
California’s new commissioner wasn’t getting along so well on Earth Day with groups of climate change and consumer activists. California Insurance Commissioner Ricardo Lara, who put battling climate change on top of a liberal and consumer friendly platform on his …
POSTED APRIL 23, 2019 4:41 PM |
Audit Criticizes Spending Practices of Kentucky Employers’ Mutual Insurance Execs
The governing board of Kentucky Employers’ Mutual Insurance has recommended that its chief executive take a pay cut and lose his long-term job contract in favor of year-to-year probation. The Lexington Herald-Leader reports the action follows an audit that criticized …
POSTED APRIL 23, 2019 4:38 PM |
Study: $76.4M in Texas Home Values Erased by Flooding Tied to Sea Level Rise
New research shows that increased tidal flooding caused by sea level rise has eroded $76.4 million in relative property values along the Texas coast between 2005 and 2017. That’s according to a peer-reviewed housing market study by data scientists from …
POSTED APRIL 23, 2019 4:14 PM |
FEMA Transfers More Flood Risk with $300 Million Cat Bond
The Federal Emergency Management Agency (FEMA) has again turned to private reinsurance markets to help strengthen the financial framework of the National Flood Insurance Program (NFIP). Last week FEMA entered into a three-year reinsurance agreement, effective April 17, 2019, with …
POSTED APRIL 23, 2019 3:52 PM |
Swine Virus Causes Panic Among Chinese Farmers as 80% Decide Not to Restock
Most Chinese hog farms are choosing not to replenish herds as a deadly swine virus continues to spread across the world’s top pork market. More than 80 percent of farms are deciding not to restock, according to China’s Agriculture Ministry. …
POSTED APRIL 23, 2019 3:38 PM |
U.S Now Probing 12 Million Air Bags for Possible Deadly Electrical Flaw
The U.S. National Highway Traffic Safety Administration is investigating a possible deadly flaw in some 12.3 million vehicles that could prevent air bags from deploying in a crash. The agency is examining air-bag control units supplied by parts maker ZF-TRW …
POSTED APRIL 23, 2019 2:59 PM |
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