Current News

North Carolina Man Charged with 8 Counts of Insurance Fraud

A Raleigh, N.C., man has been charged with eight counts of insurance fraud, eight counts of obtaining property by false pretense, four counts of attempting to obtain property by false pretense and four counts of providing a false statement on …

New York Court: Flood Sub-Limit in Policy Applies to Delay Loss

The New York Supreme Court’s Appellate Division affirmed that a $5 million flood sub-limit in a builders risk policy that Zurich American Insurance issued to a New York property developer applies to the delay-in-completion losses by the flood peril after …

Boston’s Olympics Bid Promises ‘Most Insured Games in History’

Boston 2024, the group trying to bring the 2024 Olympics to Boston, released the most detailed look yet at its bid for the Summer Games on June 29, unveiling a $4.6 billion plan it says would create thousands of jobs …

New Hampshire’s ‘Hands-Free’ Driving Law in Effect

New Hampshire is now the 15th state to bar drivers from using hand-held cellphones while driving. The new “hands-free” law, in effect as of July 1, applies to all hand-held devices, including GPS units, tablets and laptops. Violators face a …

Corzine, Others Settle MF Global Investor Lawsuit for $64.5M

Jon Corzine and other former MF Global Holdings Ltd officials have reached a $64.5 million settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage’s 2011 bankruptcy. The preliminary all-cash settlement with Corzine, who …

Nevada School District to Settle Insurance Broker Suit for $1.65M

The Clark County School District in Nevada says it will pay a former insurance broker $1.65 million to settle a lawsuit that claimed the public agency ended the broker’s contract prematurely. Business Benefits Inc. sued the district in May 2014 …

Amtrak Settles With Primary Insurers in Sandy Lawsuit

Amtrak recently reached a settlement with its primary insurers in a lawsuit in which the railroad operator sought to recoup additional proceeds for Superstorm Sandy losses from its insurers, according to court documents. Terms of the settlement were not disclosed …

California Agents Get Creative to Sell Rideshare Endorsement

Kathy Lamm, an insurance agent in Costa Mesa, Calif., over the past month or two has been busy selling a ridesharing endorsement that Farmers Insurance Group introduced in California in late May. Lamm started spreading the word soon after the …

Massachusetts Lowers Work Comp Assessment Rate

The Massachusetts Department of Industrial Accidents (DIA) reduced the assessment that private employers pay to the state on workers’ compensation policies to 5.75 percent of the policy premium for the new fiscal year, down from 5.8 percent during the last …

Colorado Asks for Major Disaster Declaration in Wake of Spring Floods

Colorado asked federal disaster managers for a major disaster declaration in the wake of severe weather and flooding this spring and early summer that impacted 11 counties. The Colorado Division of Homeland Security and Emergency Management submitted their request in …

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