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News – Insurance Journal
Church Official Warns of Financial Flood from Clergy Sex Abuse Claims
A top official with the Archdiocese of Santa Fe says a financial flood from clergy sex abuse claims is coming and a settlement would serve as the dam to prevent devastation to parishes across northern New Mexico. A letter from …
POSTED APRIL 12, 2021 8:24 PM |
La Niña Is Fading But California, Gulf Coast Still Face Risks
La Niña, the cooling of the equatorial Pacific that shifts weather patterns the world over, is fading away. But California may still be prone to dryness, and the U.S. Gulf Coast faces the risk of another busy hurricane season. Water …
POSTED APRIL 12, 2021 8:23 PM |
Unlicensed California Agent Sentenced After Stealing $450K in Premiums
Ai Ling Lee, 61, an unlicensed insurance agent living Hacienda Heights, was convicted of nine felony counts of grand theft after reportedly stealing nearly half-a-million dollars of her small business clients’ insurance premium payments. An investigation by the California Department …
POSTED APRIL 12, 2021 8:15 PM |
Damage Reported Across Southeast from Strong Storms
A cluster of severe storms swept across the South early Saturday, leaving one person dead in Louisiana, toppling trees and power lines in Mississippi, dropping large hail on an Alabama coastal city and leveling buildings in the Florida Panhandle. St. …
POSTED APRIL 12, 2021 4:54 PM |
Confidence Among UK CFOs Hits Record High, Helped by Vaccinations, Brexit Hopes
Confidence among big businesses in Britain about their profits in the year ahead has hit a record high, helped by the country’s coronavirus vaccinations and hopes for less Brexit disruption, a survey of chief finance officers showed. After the biggest …
POSTED APRIL 12, 2021 4:52 PM |
Kentucky Judge Rules Businesses Harmed by COVID Restrictions
A Kentucky judge on Friday temporarily blocked applying some of the state’s pandemic-related restrictions to several restaurants and breweries challenging the governor’s actions. Scott County Circuit Judge Brian Privett said in his narrowly tailored order that the rights of those …
POSTED APRIL 12, 2021 4:45 PM |
Suez Canal Authority Still in Talks About Compensation for Grounding of Container Ship
Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo markets, the canal authority’s chief said Monday. It’s likely that …
POSTED APRIL 12, 2021 4:42 PM |
Florida Lawmakers Send Legislation to Fight Sea Level Rise to Governor
Legislation hailed as some of the most robust yet to defend U.S. coasts against sea level rise is headed to Florida Gov. Ron DeSantis, a proposal that would provide millions of dollars annually to communities threatened with losing ground to …
POSTED APRIL 12, 2021 4:37 PM |
People Moves: Great American Promotes Markey; MJ Insurance Adds Gross
Great American Insurance Group Great American Insurance Group in Cincinnati, Ohio, has promoted Timothy (Tim) E. Markey to divisional vice president within its Fidelity/Crime Division. Markey joined Great American in 2017 as a divisional assistant vice president. He has assumed …
POSTED APRIL 12, 2021 4:21 PM |
U.S. P/C Insurers Report 2020 Underwriting Profits Despite Costs of COVID-19: Fitch
Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined ratio, according to Fitch Ratings in a new report. In …
POSTED APRIL 12, 2021 4:20 PM |
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