Geico General Insurance Co. must face a class action suit alleging it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York certified the class …
A judge ruled that BNSF Railway intentionally violated the terms of an easement agreement with the Swinomish Indian Tribal Community in Washington by running 100-car trains carrying crude oil over the reservation. The ruling in the civil case comes after …
A Cognizant report published last year, titled a pragmatist’s guide to the Metaverse, said if you ask three people what the Metaverse is, you’ll get three different answers. Insurance Journal recently tested that theory — and dissected the developing virtual …
California Insurance Commissioner Ricardo Lara and the California FAIR Plan Association agreed to more than double its existing commercial coverage limits to $20 million for businesses unable to find coverage in the normal insurance marketplace. Lara and the FAIR Plan …
What can insurance carriers expect in 2023 in terms of new codes and construction technologies in the wake of one of the most devastating natural disasters that the nation has ever experienced? Much stronger building and site development regulations in …
More than 18 months after he pleaded guilty to absconding with almost $5 million in premiums, a Florida insurance agent has been sentenced to 14 years in prison. John M. Thomas, 52, the former owner of Thomas Insurance agency in …
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions uncertain, the line is under pressure. Fitch delivered the conclusion …
Minnesota Attorney General Keith Ellison personally opened his state’s case against Juul Labs, accusing the e-cigarette maker of using “slick products, clever ads and attractive flavors” to hook children on nicotine as the first of thousands of cases against the …
The first time I can recall asking this question was in 2010 and it involved a claim denial under personal auto uninsured motorists and medical payments coverages for someone who was hit by a car while sitting on a snowmobile …
U.S. commercial insurance prices grew in the fourth quarter of 2022 by an average of 4.8%, down from the rate of 5.2% in the previous quarter (Q3 2022), according to WTW’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). The …
