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News – Insurance Journal
GM Settles Faulty Ignition Switch Cases for $120 Million
General Motors Co. has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths. The preliminary settlement was filed on Friday night with the …
POSTED MARCH 30, 2020 5:00 AM |
From Free Coverage to Medical Masks. P/C Insurers Deliver Some Good.
While the property/casualty insurance industry is fighting attempts to force it to pay for the huge business income losses that it says most policies were never intended to cover, some individual insurers are finding small ways to assist the businesses …
POSTED MARCH 30, 2020 5:00 AM |
Washington State Asks Insurers to Extend Coverage to Delivery Drivers
Washington Insurance Commissioner Mike Kreidler is asking insurers doing business in the state to immediately extend automobile insurance coverage for personal delivery drivers to aid people temporarily assigned this duty during the COVID-19 pandemic. Kreidler said his office would expedite …
POSTED MARCH 27, 2020 7:23 PM |
Demotech Affirms Ratings of 37 Florida Insurers; Still Reviewing Others
Demotech has affirmed 37 of the 46 Florida-based companies rated by the actuarial firm, as of March 26, according to information gathered from Demotech’s website. That leaves fewer than 10 Florida insurers that are still awaiting a decision on their …
POSTED MARCH 27, 2020 6:08 PM |
Restaurateur Sues The Hartford, Seeking Coverage for Coronavirus Business Interruption
A well-known California restaurateur has filed a lawsuit against a unit of The Hartford, seeking a declaration that the owner’s commercial insurance policy covers losses caused by a statewide business shutdown ordered to prevent the spread of coronavirus. The lawsuit, …
POSTED MARCH 27, 2020 4:53 PM |
North Carolina, Georgia Regulators: Insurance Is Essential Business
Regulators in North Carolina and Georgia are clarifying that insurance is considered an essential business as states move to limit what industries remain open during the current coronavirus outbreak. On March 24, North Carolina Insurance Commissioner Mike Causey requested that …
POSTED MARCH 27, 2020 4:52 PM |
Oklahoma to Issue Temporary New Licenses for Insurance Producers, Adjusters
Oklahoma Insurance Commissioner Glen Mulready has approved waiving certain requirements for new licenses issued to producers and adjusters. These measures will ensure services remain available during the state’s response to COVID-19. The Oklahoma Insurance Department (OID) contracts with a national …
POSTED MARCH 27, 2020 4:36 PM |
Federal Disaster Declaration Approved for Louisiana Due to COVID-19
President Donald Trump has granted a federal disaster declaration in Louisiana and ordered assistance to supplement recovery efforts in the areas affected by COVID-19. Louisiana’s governor asked the White House to declare a major disaster in his state to free …
POSTED MARCH 27, 2020 4:32 PM |
World Insurance Associates Acquires Texas’ TAB Insurance Agency
World Insurance Associates LLC (WIA), based in Tinton Falls, New Jersey, has acquired TAB Insurance Agency LLC of Frisco, Texas. Terms of the transaction were not disclosed. TAB Insurance Agency a full service, independent insurance agency that offers both personal …
POSTED MARCH 27, 2020 4:28 PM |
Florida Declared Federal Disaster Due to Virus
President Donald Trump declared Florida a disaster area Wednesday because of the new coronavirus outbreak, while another of the state’s largest metropolitan areas moved toward a near-shutdown. The president acted a day after Gov. Ron DeSantis requested the declaration, becoming …
POSTED MARCH 27, 2020 4:28 PM |
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