Category: Insurance News

  • Times are hard, but don’t skimp on cybersecurity

    Excessive monetary tightening has ushered in a period of economic instability for businesses in each developed and developing countries. That is, understandably, causing alarm bells for business leaders, who had hoped for some reprieve post-pandemic. While some businesses are considered recession-proof – reminiscent of grocery stores, healthcare providers, or those with a market monopoly – […]

  • Litigation Funders Are Fueling a Rise in UK Class Actions

    Financiers are helping to fuel an increase in U.S.-style class-action lawsuits within the UK courts, lured by the promise of massive payouts. The British litigation finance industry — which pays legal fees upfront and shares in any eventual payout — has almost doubled the dimensions of its UK assets over the past three years, with […]

  • Florida Warns of Crypto Scam, Louisiana Helps with $129 Million in Additional Claims, Connecticut Weighs in on Federal Subsidies

    State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures can lend one the impression that maintaining with industry changes is just a little bit like herding cats. So, what higher approach to wrangle a few of the more localized insurance news than in a Regulatory Roundup? On an ongoing basis, […]

  • Hospital in California Sued for Racism in Black Mother’s Death

    The husband of a Black woman who died hours after childbirth in 2016 sued Cedars-Sinai Medical hospital on Wednesday, saying she bled to death due to a culture of racism on the renowned Los Angeles medical center. Charles Johnson IV said he discovered the disparity in care women of color receive at Cedars in comparison […]

  • Recent Orleans Housing Authority, Private Developers to Settle $250,000 Disability Discrimination Lawsuit

    The Department of Justice announced that the Housing Authority of Recent Orleans (HANO) and 7 private developers have agreed to pay $250,000 to settle claims that they violated the Fair Housing Act (FHA) and Americans with Disabilities Act (ADA) by failing to design and construct eight multifamily residential properties and associated places of public accommodation […]

  • Allianz Reports Unexpected Increase in Q3 Net Profit of 6%

    German insurer Allianz on Friday declined to offer a forecast for 2020 given uncertainty across the COVID-19 pandemic, despite delivering an unexpected 6% rise in third-quarter net profit. Allianz, like other insurers, has warned concerning the impact of clients making claims for business interruption and canceled events from lockdowns, while demand for automotive and travel […]

  • California School District Says Hackers Accessed Massive Database

    The Los Angeles public school system, the second-largest within the US, said an extortionist group had accessed an enormous database but had not leaked as much sensitive information from it as initially feared. Student and staff data of the Los Angeles Unified School District began appearing on the net on Sunday after it refused to […]

  • Frustration and Desperation Mount as Ian’s Effects Linger

    Days after the skies cleared and the winds died down in Florida, Hurricane Ian’s effects continued Monday, as people faced one other week without power and others were being rescued from homes inundated with lingering floodwaters. Ten additional deaths were blamed on the storm in Florida as frustration and desperation mounted in the trail the […]

  • Goodbye Courtroom? Florida Residents Wants Claims Disputes Heard by Admin Judges

    By this time next year, Citizens Property Insurance policyholders and assignees of benefits could see their claims disputes decided, not in county or circuit courts, but by administrative judges who work for a Florida state agency.The Citizens Board of Governors on Wednesday voted to move ahead with a policy endorsement that would allow the insurer […]

  • Demotech Joins Call for Florida Special Session; AM Best Downgrades Farm Bureau

    The Demotech rating agency has joined the relatively small variety of voices calling for a special session of the Florida Legislature to enact changes that insurers hope will help curtail fraudulent roof claims, deter excessive litigation and address other needs. In a letter last week to Gov. Ron DeSantis and legislative leaders, Demotech President Joe […]