Latest Liability Headlines
All the headlines from our Liability Topic Page, ordered by recency.
Wholesale Broker Socius Acquires New York’s Kelly Underwriting
Jan 19 2023 // San Francisco-based wholesale insurance brokerage Socius Insurance Services, Inc. has acquired the assets of Kelly Underwriting Services, a Farmingdale, New York based managing general underwriter. Led by Tom Nash, Kelly...
Insurers Do Not Have to Defend in Opioid Litigation, Federal Appeals Court Finds
Jan 18 2023 // Two insurance carriers have no duty to defend or to indemnify Quest Pharmaceuticals in lawsuits brought over the drug distributor’s role in the opioid crisis, a federal appeals court decided last week. The opinion...
New York Corporations Face Fines for Criminal Liability for Construction Deaths, Injuries
Jan 13 2023 // Corporations in New York’s construction industry will face increased fines of up to $500,000 if they are found criminally liable for worker deaths or serious injuries. Gov. Kathy Hochul signed into law what has been...
Mosaic Launches 7th Regional Underwriting Hub With Opening of Dubai Office
Jan 12 2023 // Bermuda-based Mosaic Insurance has opened an office in Dubai, United Arab Emirates, as a strategic regional platform to access risks from across the Middle East, Africa, and South Asia (MEASA) market. Three specialist...
Specialty Program Group Buys Euclid Fiduciary
Jan 11 2023 // New Jersey-headquartered Specialty Program Group LLC (SPG) has acquired the assets of Euclid Specialty Managers, LLC, which does business as Euclid Fiduciary, from Euclid Insurance Services, Inc. Euclid Fiduciary, based in...
Alabama Home Builder’s Negligence Not Covered by Liability Policy, 11th Circuit Says
Jan 11 2023 // An Alabama judge awarded Robert and Mindy Barton $900,000 for actual damages and emotional distress caused by the botched construction of their custom home, but the couple won’t be able to collect that judgment from...
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Jan 10 2023 // Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted “buyer’s market” for...
Massachusetts High Court: Policy Terms, Not Common Law, Control in Loss Prevention Cost Claim
Jan 9 2023 // In a pollution liability case, the Massachusetts high court has determined that an insurer does not have a common law duty to cover the expenses that a business incurred in its efforts to prevent an imminent covered...
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
Jan 6 2023 // According to MarketScout’s Market Barometer, the fourth quarter 2022 composite rate for U.S. commercial lines of insurance was up 5.1%. The Dallas-based distribution and underwriting company said property insurance...
People Moves: BHSI Promotes 3 in UK Exec & Professional Lines Team; Chubb Global Markets Taps AIG’s Collins as Head of Airline; bolttech Names Schädler CEO, Europe
Jan 6 2023 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance, Chubb Global Markets and the insurtech bolttech. A summary of these new hires follows here. BHSI Promotes 3 Senior...
Markets/Coverages: CNA Hardy Offers Enhanced Product Suite for UK Tech Businesses
Jan 5 2023 // CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the latest addition to its specialist technology product suite. The product, called...
MagMutual Completes Acquisition of New Jersey’s MDAdvantage
Jan 4 2023 // Atlanta-based physician insurer MagMutual Insurance Co reports it has .has completed its acquisition of MDAdvantage Insurance Co. of New Jersey. The deal received final corporate approval and regulatory approval by the New...
Nation’s First Gun-Insurance Mandates Take Effect. Will They Hold up in Court?
Jan 3 2023 // As the calendar flips to 2023, among the scores of new laws taking effect are a pair of legislative mandates that would, for the first time anywhere in the country, require firearms owners to obtain and maintain liability...
Boy Scouts, Catholic Dioceses Find Haven From Sex Abuse Suits in Bankruptcy
Jan 3 2023 // Lawmakers around the United States have tried to grant justice to victims of decades-old incidents of child sexual abuse by giving them extra time to file lawsuits. Now some of the defendants in these cases, including...
Not Time to Celebrate Soft Market but Commercial Insurance Rates Are Stabilizing
Dec 29 2022 // With last year’s 25% rate hikes for public directors and officers liability insurance dropping to 2.5%, and 150% hikes for cyber cover sinking to 25%, significant softening is forecast for some casualty lines in...
Top 10 East Insurance Journal Stories of 2022
Dec 29 2022 // An auto repair shop owner becomes his own lawyer and beats a giant insurer. An insurer mishandles a claim involving a beer pong tournament. A violent gang is accused of trying to take over New York City’s fire...
Maritime Liability Rules Changed After Deadly 2019 California Boat Fire
Dec 27 2022 // Federal lawmakers have changed 19th-century maritime liability rules for accident victims and their families in response to the 2019 boat fire off the coast of Southern California that killed 34 people. The Small Passenger...
U.S. Judge Bars 3M From Shifting Earplug Liability to Bankrupt Unit
Dec 27 2022 // A U.S. judge on Thursday [Dec. 22] barred 3M Co. from trying to avoid liability for injuries current and former U.S. military members sustained from its allegedly defective earplugs by shifting blame to a subsidiary. U.S....
New Jersey Lawmakers Pass Gun Carry Bill With Insurance Mandate
Dec 21 2022 // New Jersey lawmakers gave final approval Monday to legislation overhauling rules to get a firearm carry permit after this summer’s U.S. Supreme Court ruling expanded gun rights. The Democrat-led Senate passed the...
Investment Firm Altaris to Acquire Trean
Dec 20 2022 // New York-based investment firm Altaris said it has agreed to acquire the remaining 53% of stock in specialty insurance company Trean Insurance Group, Inc. that it does not already own for $6.15 in cash per share. The...
