property insurance News

Carolina Lawmakers Increase Penalty After Last Year’s Substation Attack

Increased punishments for intentionally damaging utility equipment received final legislative approval Thursday in North Carolina after attacks on the state’s electrical grid caused a dayslong blackout last December. The bill passed unanimously in both the House and Senate in a …

Ken Griffin Pushed to Testify in Ron Perelman’s $410 Million Art Fight

What do billionaire Ken Griffin, a Hamptons fire and Cy Twombly’s painting Untitled (1971) have in common? The answer: Ron Perelman’s three-year dispute with a group of insurers about a portion of his extensive art collection. Perelman, 80, submitted some …

Multiple Tornadoes in Mississippi Kill One, Leave Severe Damage

Multiple tornadoes swept through Mississippi over the weekend, killing one and injuring nearly two dozen, officials said. State emergency workers were still working with counties Monday morning to assess the damage from storms in which high temperatures and hail in …

After 7 Quakes, NC Commissioner Urges Homeowners to Add Endorsement

After seven minor earthquakes were recorded in recent weeks in western North Carolina, the state’s insurance commissioner is encouraging property owners to check with their insurance agents and make sure they’re covered for natural disasters. Earthquake damage is generally not …

Democrats on Senate Budget Committee Open Investigation Into Major Insurers

Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers’ “support” of new fossil fuel projects, on the heels of an industry retreat from areas prone to climate risks. American International Group, Travelers Companies, Chubb, …

Alabama High Court Declines to Lift Injunction Blocking Coastal Bridge

A divided Alabama Supreme Court on Friday declined to lift a preliminary injunction blocking construction of a new coastal bridge. Justices in a 5-3 decision declined the emergency request from the Alabama Department of Transportation to lift the injunction halting …

Man Behind 2021 Walmart Fires Along Gulf Coast Sentenced to 18 years

An Alabama federal judge has sentenced the man who admits being the leader of a scheme to set fires to Walmart stores along the Gulf Coast to 18 years in prison – double the recommended sentence. As part of a …

Exterior Building Panel Industry Differs with KCC on Vulnerability of Systems

The head of a trade group for the exterior insulated panel industry has taken issue with a recent hurricane report by Karen Clark & Co., arguing that the report failed to point out that some of the products meet the …

Lightning May Not Have Struck at All: Georgia Man Wanted for False Insurance Claims

Authorities were searching this week for a Georgia man who falsely claimed a lightning strike caused more than $18,000 in damage to his property, Georgia Insurance Commissioner John King said in a bulletin. Salvatore Arzillo, 52, of Buford, Georgia, filed …

South Carolina Firefighter Dies in Apartment Blaze

A 25-year-old firefighter from South Carolina has died after part of a burning apartment building collapsed while firefighters were inside. Authorities said James Muller of the Irmo Fire District died Friday while he was providing aid during the response to …