News Center
Business Insurance - _Risk Management
AIG settles federal tax shelter lawsuit
American International Group Inc., in settling a tax shelter lawsuit, has agreed to disallow more than $400 million in tax credits and to the imposition of a 10% tax penalty for allegedly entering into sham transactions designed to generate bogus foreign tax credits, the U.S. Attorney’s office for the Southern District of New York said Friday.
POSTED OCTOBER 23, 2020 2:21 PM |
Swiss Re places $775 million cat bond for California Earthquake Authority
Swiss Re Capital Markets has placed $775 million of annual aggregate indemnity coverage against residential home earthquake damage for the California Earthquake Authority via two catastrophe bond issues by Ursa Re II Ltd., a Bermuda-based special purpose insurer.
POSTED OCTOBER 23, 2020 1:57 PM |
EEOC sues Colorado nursing home operator
The U.S. Equal Employment Opportunity Commission said Friday it has filed suit against a Colorado nursing home operator for tolerating its female employees’ sexual harassment.
POSTED OCTOBER 23, 2020 1:48 PM |
SEC awards record $114M to whistleblower
The Securities and Exchange Commission said Thursday it has awarded more than $114 million to a whistleblower, a record amount.
POSTED OCTOBER 23, 2020 1:40 PM |
Oh, the horror of not having insurance!
Your child gets stuck in a television set and a tree busts through a window to invade your house in an attempt to grab your other child, not to mention a bedroom closet transforms into some slimy portal to hell — all because your home was built on a cemetery and your realtor didn’t tell you. The question is now: Could insurance make you whole? Maybe.
POSTED OCTOBER 23, 2020 1:03 PM |
News – Insurance Journal
Report: Few Virus Cases in Working Age Californians Result in Comp Claims
Only one-in-14 COVID-19 cases involving working-age Californians from May through September of 2020 has been claimed as a job injury, while only 1-in-25 COVID-19 deaths among working age individuals has been claimed to be work-related according to a new California …
POSTED OCTOBER 23, 2020 5:34 PM |
North Carolina Continues on Reopening Path Despite Rising Virus Numbers
North Carolina Democratic Gov. Roy Cooper said Wednesday that the state will keep its reopening guidelines in place for three more weeks, at a time when key coronavirus metrics worsen. Since Cooper increased mass indoor and outdoor gathering limits and …
POSTED OCTOBER 23, 2020 4:59 PM |
Family Settles Suit Over Death of South Carolina High School Football Player
A South Carolina family has settled a lawsuit filed after a 14-year-old high school football player collapsed after an intense practice and died, news outlets reported. The suit, filed against Lexington County School District 1 over the death River Bluff …
POSTED OCTOBER 23, 2020 4:58 PM |
Georgia County to Pay $1M Fine Over Sewage Leaks to Buy Time for Repairs
A suburban Atlanta county where leaky pipes keep spilling raw sewage into creeks and rivers would pay a $1.05 million fine to regulators and get seven more years to make repairs under a new proposed federal court order. DeKalb County …
POSTED OCTOBER 23, 2020 4:49 PM |
North Dakota Seeks to Use Coronavirus Aid for Fracking
North Dakota officials say they want to repurpose $16 million in federal coronavirus aid and spend it on grants to encourage fracking instead of using it to clean up abandoned oil well sites. Regulators have presented the proposal as a …
POSTED OCTOBER 23, 2020 4:44 PM |
The trusted source of unique, data-driven insights on insurance to inform and empower consumers.
N.C. Ruling Goes Against Prevailing Judicial Wisdom on COVID-19 Business Interruptions
A North Carolina court has ruled that Cincinnati Insurance Co. must pay 16 restaurants’ claims for business income (interruption) losses due to government-ordered COVID-19 shutdowns – a decision that runs counter to those of most judges who’ve ruled on similar cases. As hundreds of COVID-19-related lawsuits regarding business interruption coverage make their way through U.S. … Continue reading N.C. Ruling Goes Against Prevailing Judicial Wisdom on COVID-19 Business Interruptions →
POSTED OCTOBER 23, 2020 1:43 PM |
Businesses Large and Small Need to Be Cyber Resilient in a COVID-19 World
By Loretta Worters, Vice President, Media Relations, Triple-I Advanced Persistent Threat groups and cybercriminals are likely to continue to exploit the COVID-19 pandemic over the coming weeks and months. Weak and stolen passwords, back doors, applications vulnerabilities, malware and insider threats have been among the most common causes of data breaches in the past. But … Continue reading Businesses Large and Small Need to Be Cyber Resilient in a COVID-19 World →
POSTED OCTOBER 22, 2020 4:13 PM |
Insurance Careers Corner: A few minutes with Kristian Ottesen, intern, CNA Brokerage Strategy team
By James Ballot, Senior Advisor, Strategic Communications, Triple-I It’s an understatement to say that the COVID-19 pandemic has affected all areas of our personal and professional lives. Amid widespread disruption, however, people are finding ways to overcome the distance of “social distancing” and to make remote work seem less, well, remote. Insurance business summer internships … Continue reading Insurance Careers Corner: A few minutes with Kristian Ottesen, intern, CNA Brokerage Strategy team →
POSTED OCTOBER 21, 2020 3:04 PM |
Policyholder Dividends Soar as Auto Insurers Respond to Pandemic
Policyholder dividends have more than tripled so far this year, due largely to approximately $14 billion auto insurers have returned to policyholders in response to reduced driving and fewer accident claims related to the COVID-19 pandemic. According to National Association of Insurance Commissioners (NAIC) data from Standard & Poor’s Global Market Intelligence, insurers issued $4.8 … Continue reading Policyholder Dividends Soar as Auto Insurers Respond to Pandemic →
POSTED OCTOBER 20, 2020 9:24 PM |
Victimized Twice? Firms Paying Cyber Ransom Could Face U.S. Penalties
Recent advisories from two U.S. Treasury agencies – the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) – indicating that companies paying ransom or facilitating such payments to cyber extortionists could be subject to federal penalties are a reminder of the importance of good cyber hygiene. The notices also underscore businesses’ need to consult … Continue reading Victimized Twice? Firms Paying Cyber Ransom Could Face U.S. Penalties →
POSTED OCTOBER 20, 2020 6:31 PM |
Insurers Help Victims Find Freedom from Domestic Violence Through Financial Empowerment
COVID-19 Could Further Impact Intimate Partner Violence Survivors By Loretta Worters, Vice President – Media Relations, Triple-I Financial security and access to resources can make all the difference to domestic violence victims when deciding to leave an abusive relationship. And insurance is an important component of financial planning that can help survivors move forward. Financial … Continue reading Insurers Help Victims Find Freedom from Domestic Violence Through Financial Empowerment →
POSTED OCTOBER 20, 2020 12:32 PM |
Mitigation Matters – and Hurricane Sally Proved It
The FORTIFIED construction certification was developed by the Insurance Institute for Business and Home Safety (IBHS) to protect homes against severe weather. In this post Fred Malik, managing director, FORTIFIED, and Chuck Miccolis, managing director, Commercial – IBHS, talk about how the system held up in Alabama against Hurricane Sally. In 2004, Hurricane Ivan slammed … Continue reading Mitigation Matters – and Hurricane Sally Proved It →
POSTED OCTOBER 19, 2020 10:20 PM |
Hurricane Delta insured losses estimated at up to $3 billion
Hurricane Delta made landfall in Creole, Louisiana, on October 9 as a Category 2 storm with 101 mph sustained winds and a 9.3-foot storm surge. Landfall in Cameron Parish was within 13 miles of where Category 4 Hurricane Laura made landfall in late August. Delta knocked out power to over 500,000 customers in Louisiana (a … Continue reading Hurricane Delta insured losses estimated at up to $3 billion →
POSTED OCTOBER 18, 2020 3:58 PM |
The Future of American Insurance and Reinsurance Releases a Digital Business Interruption Insurance Explainer
Future of American Insurance and Reinsurance (FAIR) has released a new interactive tool to help showcase the need for a federal solution to pandemic relief. The Business Interruption Insurance “explainer” utilizes digital storytelling techniques to help clarify information about this complex topic. The digital explainer complements the FAIR campaign’s other recently-released digital assets, including a video … Continue reading The Future of American Insurance and Reinsurance Releases a Digital Business Interruption Insurance Explainer →
POSTED OCTOBER 16, 2020 1:48 PM |
Keeping Halloween Safe, Even During a Pandemic
My five-year-old nephew, Ben, is a great source of pride to his electrician father, Dan. Last Halloween, Ben refused to trick-or-treat at a particular house because he noticed that the decorations there were a fire hazard. Halloween is supposed to be fun, but it has always involved risks and potential liabilities. The video below outlines … Continue reading Keeping Halloween Safe, Even During a Pandemic →
POSTED OCTOBER 14, 2020 5:49 PM |
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