Monthly Archives: <span>April 2022</span>

Five Days That Could Save the Insurance World: DeSantis Calls Session for May 23-27

May 23 through May 27. Those are the dates Florida Gov. Ron DeSantis has set aside for a special session of the Florida Legislature to address a number of changes that could ameliorate what many have called a property insurance …

Chubb Posts Record Q1 P/C Underwriting Income

Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3 billion. The P/C combined …

Louisiana Houses Passes Bill Broadening Loss of Use Coverage Scenarios

The Louisiana House passed a bill Monday that would broaden the requirements of when insurers have to pay loss of use coverage in response to a storm evacuation warning. House Bill 83 says any loss of use coverage would be …

Louisiana Highway Crash Knocks Out Power to 2,000

Authorities say a man is dead after his truck crashed into a utility pole on a Louisiana highway. Louisiana State Police say the single-vehicle wreck Friday night shut down a stretch of state Highway 73 in Ascension Parish and knocked …

Oklahoma Insurance Department Plans Captive & IBT Conference

The Oklahoma Insurance Department (OID) announced it will host the inaugural Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City on August 24-25. The conference is designed for risk managers, business owners, regulators, financial executives and insurance professionals, the …

Iowa Court Finds No Coverage for COVID Income Loss in 2 Decisions

The Iowa Supreme Court last week ruled in two separate decisions that COVID-19 did not cause a physical loss or damage that would allow a private golf club or a restaurant and bar to recoup income lost during COVID-19 shutdown …

National Guard Called Up to Help NW Minnesota Flood Threat

Volunteers and National Guard members in northwestern Minnesota spent two days sandbagging to fortify the city of Crookston from an expected record flood along the Red Lake River. Minnesota Gov. Tim Walz authorized 100 members of the Guard to assist …

Ohio’s FirstEnergy Settles Ratepayer Lawsuits for $37M

FirstEnergy Corp. has settled four ratepayer lawsuits filed after the utility giant became ensnared in a $60 million bribery scheme to win a $1 billion legislative bailout for two Ohio nuclear plants operated by a company subsidiary when the bill …

Florida Appeals Court: Pre-Suit Notices Required in AOB Cases After July 2019

In a decision that’s being called a win for insurers, Florida’s 4th District Court of Appeals held last week that the statutory notice of intent to sue applies to all assignment-of-benefits agreements signed after the 2019 law was enacted, even …

People Moves: Quigley Ascot’s Surety Lead; Olson Named Zurich N.A. Head of Programs

Quigley Named Ascot’s Head of Surety Ascot appointed Tara Quigley executive vice president and head of Surety. She will be responsible for developing, and managing Ascot’s Surety portfolio across the U.S. Her appointment marks the final stage of Ascot’s entry …