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Syndicate content News Archives - Insurance Journal
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 12 weeks 5 days ago

Liberty Mutual to Eliminate 250 Positions

Fri, 2024-02-02 10:23
Liberty Mutual has confirmed it is eliminating about 250 positions, or 0.5% of its global workforce, as it continues implementing new organizational structures within US Retail Markets and Global Risk Solutions units. In an email a spokesperson said some employees …

Europe’s Toughest ESG Rule Hits Wall of German Objections

Fri, 2024-02-02 09:50
The European Union’s most stringent ESG rule to date may be scuppered due to eleventh-hour German opposition to the plan. The EU was on track to move forward with the Corporate Sustainability Due Diligence Directive after December, when lawmakers and …

Tobacco Giants’ Patent Settlement Clears Path for Smokeless Products

Fri, 2024-02-02 09:12
Tobacco giants Philip Morris International Inc. and British American Tobacco Plc settled a series of patent suits that clears a path for both firms to bring their cigarette alternative products to US and European markets. The accord ends legal challenges …

Norway’s Most Powerful Storm in Over 30 Years Rips Roofs Off Houses, Cuts Power

Fri, 2024-02-02 08:52
Norway’s most powerful storm in more than three decades ripped off roofs, heightened avalanche risks, canceled flights and cut power as it raged in parts of the Scandinavian country Thursday. Hurricane-force winds brought gusts of up to 180 kilometers (112 …

Crash Tests Indicate Nation’s Guardrail System Can’t Handle Heavy Electric Vehicles

Fri, 2024-02-02 08:44
Electric vehicles that typically weigh more than gasoline-powered cars can easily crash through steel highway guardrails that are not designed to withstand the extra force, raising concerns about the nation’s roadside safety system, according to crash test data released Wednesday …

Small Plane Crashes into Mobile Home Park Near Tampa, Killing 3

Fri, 2024-02-02 08:32
A small plane crashed into a Clearwater, Florida, mobile home park Thursday night, killing the pilot and two people on the ground, the Federal Aviation Administration and local news outlets reported. The pilot of the single-engine Beechcraft reported engine failure …

Arkansas Insurance Hall of Fame Opens Nominations for Class of 2024

Fri, 2024-02-02 08:25
The Arkansas Insurance Hall of Fame (AIHF) has opened nominations for its Class of 2024 inductees. Nominations opened February 1 and will remain open through April 15, 2024. Nominations may be submitted online at www.arinsurancehof.org. The chosen inductees will be …

French Farmers Head Home but Anger Spreads Elsewhere in Europe

Fri, 2024-02-02 08:22
Protesting farmers demanding just prices and less red tape blocked the border between Belgium and the Netherlands on Friday, whilst their peers in France started lifting blockades countrywide after the government made further concessions. Farmers’ protests have erupted in numerous …

Texas Man Convicted of Arson in Historic Courthouse Fire

Fri, 2024-02-02 08:21
A Texas man was found guilty this week of starting fires at the historic Mason County Courthouse and an occupied residential structure on February 4, 2021. A McCulloch County jury this week found Nicholas Miller guilty of arson. Miller was …

NHTSA Upgrades Probe Into Tesla Power Steering Loss

Fri, 2024-02-02 08:13
U.S. safety regulators have upgraded their probe into Tesla TSLA.O vehicles over power steering loss to an engineering analysis – a required step before the agency could demand a potential recall. The National Highway Traffic Safety Administration (NHTSA) on Friday …

Weekly Q4 2023 Earnings Wrap: The Hartford, The Hanover, Markel, and Selective

Fri, 2024-02-02 08:06
The Hartford said fourth quarter net income available to common stockholders increased 30% to $766 million. The insurer ended the year with net income up 38% to about $2.5 billion. Commercial lines record fourth quarter 2023 net income of $687 …

Online News Site in Florida Shuts Down After Less Than a Year

Fri, 2024-02-02 07:30
WEST PALM BEACH, Fla. (AP) — The Messenger, an ambitious online news site that billed itself as a nonpartisan digital outlet and spent some $50 million ratcheting up its business effort, abruptly shut down Wednesday after only eight months in …

West Virginia Construction Firm to Buy Bankrupt College Campus

Fri, 2024-02-02 07:02
CLARKSBURG, W.Va. (AP) — A federal bankruptcy judge on Wednesday approved the sale of a defunct private university’s campus to the owner of a West Virginia construction firm for $5 million. Craig G. Phillips, owner of CGP Construction of Elkins, …

Maine Approved for Federal Disaster Aid for December Storm Damage

Fri, 2024-02-02 06:41
President Joe Biden has issued a federal disaster declaration for extensive damage caused by a massive wind and rainstorm in Maine in December, the first of three storms to pummel the state, Democratic Gov. Janet Mills announced Wednesday. The president’s …

2 Pennsylvania Homeowners Urged to Evacuate Due to Landslide

Fri, 2024-02-02 06:37
Authorities have urged two western Pennsylvania homeowners to evacuate their residences due to a nearby landslide. The slide in the Sonoma Ridge development in Allegheny County’s Moon Township closed part of a road two weeks ago, and since then another …

France Now Backing EU AI Rules Ahead of Bloc Endorsement

Fri, 2024-02-02 05:26
France is now backing landmark European Union rules governing artificial intelligence subject to strict conditions, an EU diplomatic source said on Friday, after sources had previously said it was the last holdout in the bloc to support the plan. Such …

Appeals Court Overturns $366M FedEx Race Bias Verdict

Fri, 2024-02-02 05:09
A federal appeals court on Thursday threw out a $366.2 million verdict against FedEx in a case brought by a Black sales manager who said the package delivery company fired her in retaliation for accusing her supervisor of race discrimination. …

Cargo Thefts Up 59%, Misdirection Top Threat: CargoNet

Fri, 2024-02-02 04:37
There were 692 reported thefts of cargo across the United States and Canada in the third quarter of 2023, a 59% increase when compared to the third quarter of 2022, according to CargoNet. Similar to the second quarter of 2023, …

Cloudflare Says State-Backed Hackers Tried to Burrow Into its Global Network

Fri, 2024-02-02 04:35
Internet firm Cloudflare said in a statement on Thursday that an advanced group of hackers tried to burrow deep into its global network late last year but were thwarted. The company, which did not identify the hackers, said in a …

Fast Trains, Toxic Chemicals: Why Rail Safety Is Still a Problem

Fri, 2024-02-02 03:00
In the year since the derailment of a Norfolk Southern Inc. train brought national attention to US railroad safety, little has changed. Trains are still rolling through East Palestine, Ohio, at 50 miles per hour — the same speed allowed …