Several Indiana cities have opted out of the state’s pending lawsuits against opioid manufacturers and distributors, reasoning that they will likely see more cash from their own litigation filed in response to the nation’s opioid epidemic. The suburban Indianapolis cities …
AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of Illinois Casualty Co. (ICC), based in Rock Island, Illinois. Concurrently, AM …
Europe’s insurance industry is emerging from the coronavirus crisis with a stronger appetite for mergers and acquisitions (M&A), along with expectations for strong earnings growth in 2021, according to Moody’s annual survey of chief financial officers (CFOs) from 21 leading …
A judge has ruled in favor of a group of hotels whose owners sued their insurance carriers over lost business during the coronavirus pandemic. Businessman Mark Stebbins of Schleicher & Stebbins Hotels LLC, one of the plaintiffs, said the pandemic …
ShoreOne Insurance Managers Inc. is launching its admitted, residential homeowners policy with full flood insurance protection in New Jersey. This product is already live in South Carolina, and there are plans to expand into other states on the Eastern Seaboard …
Merchants Insurance Group Promotes Lasante in New England Office Merchants Insurance Group has promoted Regional Underwriting Manager Kevin Lasante to regional vice president of its New England office in Bedford, New Hampshire, effective June 7, 2021. He will assume the …
Island Insurance Co. has promoted Toby Tonaki to vice president, claims. Tonaki will continue to oversee the claims division’s casualty unit. Tonaki joined Island in 2013 and has more than 25 years of litigation experience. Previous positions include law clerk …
Creditors who say they were swindled out of more than $200 million by the former owners of the liquidated CastlePoint group of insurance companies may proceed with most of the claims they made in a New York lawsuit, a California …
New Mexico’s largest city has sued companies involved in the design and construction of a rapid transit system over light fixtures that have fallen or weren’t secured. The Albuquerque Rapid Transit bus system has been plagued with problems that include …
California’s weather moderated after a long siege of extreme heat but firefighters still faced the difficult task of trying to contain a large forest fire in rugged coastal mountains south of Big Sur. The Willow Fire covered 4.4 square miles …
