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Too Soon for ‘All Clear’ in D&O Insurance Market as Banks Fall
D&O insurers breathed a short sigh of relief when the U.S. government pledged to protect depositors of failed Silicon Valley Bank last week. But it wasn’t necessarily business as usual for watchful underwriters in the days following the March 12 …
POSTED MARCH 21, 2023 5:55 AM |
WCRI: Consolidation of Health Care Driving Up Prices in Work Comp
Consolidation of physician services into larger groups owned by hospitals and health care systems is driving up the cost of care in workers’ compensation, according to a new study by the Workers’ Compensation Research Institute. “Medical markets are increasingly concentrated,” …
POSTED MARCH 21, 2023 5:36 AM |
States Urge Hyundai, Kia to Do More to Tackle Theft Risk
A group of 22 U.S. state attorneys general on Monday blasted Hyundai Motor 005380.KS and Kia Corp 000270.KS and said they need do more to address problems with millions of U.S. vehicles that are prone to theft. Last month, the …
POSTED MARCH 21, 2023 5:19 AM |
People Moves: Surplus Line Association of California Promotes Trumbly, Adds Mayet
The Surplus Line Association of California, headquartered in San Ramon, California, promoted Barbara Trumbly to senior vice president and has hired Yusuf Mayet as the organization’s vice president for compliance. Trumbly, previously the SLA’s vice president for human resources, is …
POSTED MARCH 21, 2023 5:00 AM |
How Much Is a Picture Worth? Jury Can Decide in Personal Injury Claim, Says Court.
Photos of damaged vehicles are relevant to the likelihood and degree of personal injury in a car accident case and they are admissible at trial, even when no expert witnesses are around to testify about them, the Massachusetts Supreme Judicial …
POSTED MARCH 21, 2023 5:00 AM |
4 Killed in Wrong-Way Crash on Southern California Freeway
Four people were killed early Sunday in a wrong-way collision involving several vehicles on a freeway east of Los Angeles, authorities said. The crash occurred around 2:30 a.m. in southbound lanes of State Route 71 in Chino Hills after several …
POSTED MARCH 20, 2023 11:22 PM |
Cannasure Quickly Moving New and Renewal Business from Topa in California
It appears one of the nation’s better known cannabis insurance specialists is having to do some scrambling after AM Best announced it was downgrading the credit ratings of Topa Insurance Co. in Calabasas, California, and its subsidiary, Dorchester Insurance Company …
POSTED MARCH 20, 2023 11:11 PM |
People Moves: Tokio Marine Boosts UK Trade Credit Division With Underwriting Hires From Atradius, Coface; BHSI Promotes Ruddlesdin to Head of PI & Cyber in London
This edition of International People Moves details appointments at Tokio Marine and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Tokio Marine Hires Underwriters from Atradius, Coface for UK Trade Credit Tokio Marine HCC International …
POSTED MARCH 20, 2023 4:49 PM |
Homeowners of America Applies for Texas Reciprocal Exchange
Porch Group, Inc. announced that its insurance business, Homeowners of America (“HOA”), has filed an application to form and license a Texas reciprocal insurance exchange (a “Reciprocal”) with the Texas Department of Insurance (TDI). If approved and fully implemented by …
POSTED MARCH 20, 2023 4:47 PM |
AM Best Downgrades Credit Ratings of Topa in California
AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+ (Good) from “a-” (Excellent) of Topa Insurance Co. in Calabasas, California, and its subsidiary, Dorchester Insurance Company Ltd. …
POSTED MARCH 20, 2023 4:40 PM |
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