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Cincinnati Financial Corp. Says Q3 Cat Losses Could Rise to $114M

Cincinnati Financial Corp. has announced that the Cincinnati Insurance Companies’ property/casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $102 million to $114 million. The company said the impact on the third-quarter 2017 combined ratio would …

Feds Shut Down Iowa Trucking Company Tied to Trafficking Deaths

Federal safety regulators have shut down a troubled Iowa trucking company that owned the semitrailer involved in a human trafficking case in which 10 immigrants died in Texas. Pyle Transportation was placed under an “out-of-service order” by the Federal Motor …

More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates

The third quarter natural catastrophe loss estimates continue to rise, as more insurers and reinsurers weigh in with their loss totals from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The latest companies to provide estimates include: AXIS Capital …

How Insurers, Employers Can Help Close Income Gap in U.S.: Zurich Insurance Research

Public/private partnerships between governments, companies and insurers can help ease income gaps that burden millions of Americans, according to new research from Zurich Insurance Group and the University of Oxford. Financial education is one key to securing personal financial security, …

Los Angeles to Settle Suit over Man Injured in Crosswalk Accident for $15M

Los Angeles will pay $15 million to settle a lawsuit by a man who was struck by a car in a Hollywood crosswalk and left with permanent brain damage. The Los Angeles Times reported that the City Council voted this …

Insurtech Mobile-Based Auto Insurer Root Expands into Utah

Root Insurance has expanded its services to drivers in Utah. Root, which is now operating in Illinois, Oklahoma, Indiana, Ohio and Arizona, asserts that drivers can save up to 52 percent by using Root’s data-driven approach, which bases rates primarily …

Alabama Settles Lawsuit Over Gulf State Park Hotel

Alabama has settled a lawsuit that challenged the use of BP oil spill funds to build a beachside hotel and conference center. In the settlement finalized on Thursday, Alabama agreed to commit long-standing funding for beach access, dune restoration programs, …

Connecticut Teachers’ Union, Towns Sue State to Stop Education Cuts

Connecticut’s largest teachers’ union and three municipalities are seeking a court order to stop Gov. Dannel P. Malloy from cutting $557 million from the majority of school districts, saying the reductions will be devastating to public education. In a lawsuit …

Argo Names The Hartford’s Higley to Head U.S. Property, Inland Marine

Specialty insurer Argo Group International Holdings has appointed David Higley as head of U.S. property and inland marine. Higley will report to Ron Vindivich, president, E&S, Colony Specialty, and will lead the group’s newly formed U.S. property unit, made up …

Jury Misconduct, Judge’s Mistake to Blame for $417M Talc Verdict, Argues J&J

Johnson & Johnson says a $417 million verdict in a talc powder cancer case should be thrown out because three jurors were excluded by fellow panelists from the decision-making process. The three were wrongly left out of deliberations on the …

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