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Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination Zurich North America was ordered by a California jury to pay three former employees a total of about $80.2 million to end a wrongful termination case earlier this month. Melinda Brantley, Nicholas Lardie, and Daniel Koos worked as claims examiners …
POSTED APRIL 24, 2024 5:43 AM |
CEO Viewpoint: Unlocking the Potential of Generative AI in Insurance Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that …
POSTED APRIL 24, 2024 5:02 AM |
AM Best Places Credit Ratings of GeoVera Insurance Group Members Under Review AM Best placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group in Fairfield, California. Coastal Select Insurance …
POSTED APRIL 24, 2024 5:00 AM |
Omaha National Acquires Sutter Insurance in California Omaha National Group Inc. acquired Sutter Insurance Co., a California domiciled carrier. Sutter Insurance has been renamed Omaha National Casualty Co. Omaha National also owns Omaha National Insurance Co., which is domiciled in Nebraska. Omaha National, now licensed to issue …
POSTED APRIL 24, 2024 5:00 AM |
Property Owner Sued for Negligece in Hiring of Worker With Criminal Record April Hurley’s attacker entered her apartment after identifying himself as the building maintenance man — a job he should never have obtained, according to a lawsuit filed Monday that accuses the property owner and management company of engaging in negligent …
POSTED APRIL 24, 2024 5:00 AM |
Hawaii Lawmakers Take Aim at Vacation Rentals After Wildfire Amplifies Housing Crisis Amy Chadwick spent years scrimping and saving as a single mother of two to buy a house in the town of Lahaina on the Hawaiian island of Maui. But after a devastating fire leveled Lahaina in August and reduced Chadwick’s …
POSTED APRIL 24, 2024 5:00 AM |
UnitedHealth Says Hackers Possibly Stole Large Number of Americans’ Data UnitedHealth Group said on Monday that hackers stole health and personal data of potentially a “substantial proportion” of Americans from its systems in February, as the largest U.S. health insurer scrambles to contain the damage. The intrusion at its Change …
POSTED APRIL 24, 2024 4:51 AM |
Iowa Governor Signs Bill Lowering Reinsurance Tax for Captive Companies Iowa will lower the amount of reinsurance tax due from some captive companies under a bill signed by Governor Kim Reynolds last week. HF 2636 lowers the tax on premiums written above $60 million to 0.02 percent, down from 5 …
POSTED APRIL 23, 2024 11:48 PM |
Chubb Records 13.3% Uptick in Q1 Net Income on Underwriting Chubb started 2024 off with first quarter net income up 13.3%, compared to the same time a year ago, to about $2.1 billion. The first three months of 2024 followed a year Chubb CEO Evan G. Greenberg called the “best …
POSTED APRIL 23, 2024 9:36 PM |
Michigan Doctor Faces Trial for Alleged $400K Disability Insurance Fraud A Michigan doctor was bound over last week in the 48th District Court in Bloomfield Hills on charges stemming from an allegedly fraudulent disability insurance claim and subsequent years of receiving fraudulent payments, Michigan Attorney General Dana Nesse announced. She …
POSTED APRIL 23, 2024 4:56 PM |
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