The former president and chancellor of Liberty University (LU), Jerry Falwell Jr., is suing the school for reputational damage following his August resignation, according to a complaint filed in the Commonwealth of Virginia Circuit Court for the City of Lynchburg. …
Scottsdale, Arizona-based specialty insurer Nautilus Insurance Group announced the appointment of Thomas Joyce as president. He is succeeding Tom Kuzma, who has been named chairman. These changes will take effect January 1, 2021. Joyce joined Nautilus as senior vice president …
Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned aside preliminary objections to the suit …
The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its handling in 2020. P/C insurers currently collect US$1.6 trillion …
McDonald’s Corp. was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores. The proposed class action led by James and Darrell Byrd, brothers …
A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …
Federal and state authorities on Wednesday investigated a crash between a school bus carrying 24 children and a utility vehicle that killed the bus driver and a 7-year-old girl in eastern Tennessee. Eight other children were injured when the utility …
The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by multiple hurricanes in the last …
Property/casualty insurance companies in Louisiana, including those that write private and/or excess flood coverage, as well as surplus lines insurers, have been directed to report claims data arising from Hurricane Delta to the state insurance department. It is the second …
Nexus Specialty has hired Katie Schneider as assistant vice president, Management & Professional Liability, in the group’s Chicago, Ill., office. The company also named William K. Fayette, senior underwriter, Management & Professional Liability, also based in Chicago. Schneider will be …
