News

New Jersey Provides Tools to Implement New Flood Risks Disclosure Law

New Jersey officials have introduced measures to implement flood risk disclosure legislation signed into law by Governor Phil Murphy last June. The measures include new property disclosure forms notifying buyers and tenants of a property’s known flood history and potential …

New York Governor Again Vetoes Bill Allowing Emotional Damages in Wrongful Deaths

New York Gov. Kathy Hochul has again vetoed legislation that would have changed the state’s wrongful death statute by letting families recover damages for emotional suffering from the death of a loved one. Hochul declined Friday to sign the Grieving …

Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter

Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy Carpenter, the reinsurance business of Marsh McLennan. …

Mississippi Health Department Retesting Some Medical THC Products for Toxins

JACKSON, Miss. (AP) — The Mississippi Department of Health said Wednesday that “a large number” of medical marijuana products are on hold so they can be retested. The department first issued the hold on Dec. 21. A news release from …

Florida Countertop Firm Owner Killed in Helicopter Crash

MIAMI (AP) — Emergency workers in south Florida this week tried to rescue a 71-year-old pilot of a helicopter that crashed into a canal. The man’s daughter swam to safety but the pilot could not be saved, according to news …

People Moves: Aspire in California Names Alam and Newgarden to New Roles

Aspire General Insurance Company, headquartered in Rancho Cucamonga, Calif., named Bilal Alam actuary and chief data officer and Tom Newgarden as an Aspire board member. Alam previously served as vice president and head of reinsurance at National General Insurance Company …

Hallmark Financial to Voluntarily Delist From Nasdaq

Property/casualty insurer Hallmark Financial Services said it has voluntarily delisted from Nasdaq after failing to meet requirements to remain on the stock exchange. Hallmark on Dec. 26 provided notice to Nasdaq. The company said its shares will be suspended in …

Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV

Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4 billion) during 2023, according to the German Insurance Association (GDV). This extreme weather – also known as severe convective storms …

Appraisal Isn’t Arbitration, Alabama High Court Says in Dismissing Insurer Appeal

A petition to invoke appraisal is not the same thing as a motion to compel arbitration, the Alabama Supreme Court ruled Friday. The high court dismissed an appeal by Great American Insurance Co. that sought to overturn a trial court’s …

SEC’s Ambitious Climate Agenda Stalls as US Elections Raise Stakes in New Year

The Securities and Exchange Commission’s failure to complete an ambitious climate-related agenda in 2023 is making environmental activists nervous. Less than a year before a US presidential election that could scuttle the regulator’s environmental, social and governance efforts, the SEC …

News Archives by Month