Gov. Jerry Brown has signed Assembly Bill 2064, a bill aimed at changing the way Californians learn about earthquake insurance for their homes. Under California law, insurers that sell residential property insurance also must offer earthquake coverage to their policyholders. …
Nearly one-in-five major investors in green bonds issued by one of the world’s largest players in that market is coming from the insurance industry. If you haven’t heard much about green bonds and insurance investments up to now, you probably …
Gov. Jerry Brown has lent his signature to compromise legislation that clarifies how and when transportation network companies are commercially insured. Sponsored by Assemblywoman Susan Bonilla, D-Concord, A.B. 2293, was one of the session’s highest-profile pieces of legislation. In its …
The National Association of Insurance Commissioners (NAIC) appointed NAIC President and North Dakota Insurance Commissioner Adam Hamm to serve a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC). The 15-member FSOC was created …
Auto insurance fraud costs Michigan drivers more than $220 million a year, Secretary of State Ruth Johnson announced while unveiling a set of 17 legislative and regulatory anti-fraud recommendations offered by the Fighting Auto Insurance Rip-offs (FAIR) Task. Johnson convened …
Swiss Re Ltd., the world’s No. 2 reinsurer, is cutting back on catastrophe coverage and moving into new lines of business as low interest rates and fewer natural disasters undercut prices. “The super profits from nat cat are probably over …
Swett & Crawford, headquartered in Atlanta, has formed a partnership with JH Blades, which will expand the capabilities offered by its Energy Practice Group. Operating as a coverholder and MGA, the Houston-based JH Blades underwrites upstream energy business both onshore …
Authorities said that a Chevron Corp. subsidiary was still releasing natural gas on Sept. 14 from a pipeline off the Louisiana coast where an incident killed a maintenance worker. Col. Mike Edmonson, the superintendent of the Louisiana State Police, said …
A Minnesota man who alerted the U.S. Department of Defense to a Humvee manufacturing change that could potentially put soldiers at risk has won nearly $1 million after settling his whistleblower lawsuit. David McIntosh lost his job at M.K. Battery …
New Jersey has purchased the first of seven flood-damaged homes in East Brunswick under a Superstorm Sandy program. The home on Squire Street was purchased for $193,073, based on pre-Sandy market values from an independent appraisal. Because the neighborhood is …
