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Insurance News & Reinsurance News


Find here the latest insurance industry news from around the world. The news is updaily almost hourly.

Insurance News Update

Morris Reappointed to Louisiana Workers? Comp Advisory Council
Michael D. Morris of Baton Rouge has been reappointed to the Louisiana Workers’ Compensation Advisory Council. Morris is an attorney and the chief executive officer of the Louisiana Home Builders’ Association. He will serve as a representative of self-insured industries …
Connecticut Man Gets Prison for Defrauding Investors out of $874K
A Connecticut man will spend almost four years in prison for operating an investment scheme that defrauded people of more than $874,000. The U.S. Attorney’s office says 54-year-old Anthony Sciarra, of Wethersfield, Conn., was sentenced Wednesday in Hartford federal court. …
Alaska Fatal Airplane Crash Getting NTSB Hearing
A National Transportation Safety Board investigative hearing in Alaska next month on a fatal commercial airplane crash will be the first held outside of Washington, D.C., in nearly 20 years. The board is conducting an investigative hearing Aug. 17 on …
Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage
A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley, Calif.-based firm called Jumpstart Insurance Solutions Inc. recently …
New York State Rejects City?s Request for Funds for Big Fire Costs
A western New York city won’t be getting state aid to cover the costs linked to a massive fire at a former steel plant last fall. The blaze started Nov. 9 in a large building on the Bethlehem Steel site …
Additional Homes at Risk as Florida Sinkhole Widens
Florida sinkhole that swallowed two homes last week isn’t getting any deeper, but it’s getting wider, officials said Wednesday ?and one resident who’s back home after being evacuated is vowing to stay unless the hole consumes her house. “I’m apprehensive, …
Fatal Arkansas Train Accident Prompts Hazard Rating Increase
The Arkansas Highway and Transportation Department has increased the hazard rating for a train crossing after the recent deaths of a couple whose car was struck by a train. ATHD Railroad Crossing Coordinator Steve Weston tells the Jonesboro Sun that …
Louisiana Regulators Recover $4M for Insurance Policyholders
Insurance policyholders collected an additional $4 million in the first half of the year as a result of assistance provided by the Louisiana Department of Insurance (LDI). These funds are a result of staff from the LDI Office of Consumer …
California Officials Clear Way for Reopening of Gas Field That Made L.A. Residents Sick
The planned reopening of a massive Los Angeles natural gas storage facility that spewed methane for months has only renewed the fight over its future. California state officials this week cleared the way for resumption at reduced capacity in the …
Minnesota: Farmers Insurance Exchange Overcharged Renters for Auto Coverage
Minnesota Commerce Commissioner Mike Rothman has ordered an insurance company to refund more than $300,000 to Minnesota drivers who were charged higher auto insurance rates solely because they were renters rather than homeowners. According to the Minnesota Commerce Department Insurance …

Reinsurance News Update

Connecticut Man Gets Prison for Defrauding Investors out of $874K
A Connecticut man will spend almost four years in prison for operating an investment scheme that defrauded people of more than $874,000. The U.S. Attorney’s office says 54-year-old Anthony Sciarra, of Wethersfield, Conn., was sentenced Wednesday in Hartford federal court. …
Additional Homes at Risk as Florida Sinkhole Widens
Florida sinkhole that swallowed two homes last week isn’t getting any deeper, but it’s getting wider, officials said Wednesday ?and one resident who’s back home after being evacuated is vowing to stay unless the hole consumes her house. “I’m apprehensive, …
Alaska Fatal Airplane Crash Getting NTSB Hearing
A National Transportation Safety Board investigative hearing in Alaska next month on a fatal commercial airplane crash will be the first held outside of Washington, D.C., in nearly 20 years. The board is conducting an investigative hearing Aug. 17 on …
Fatal Arkansas Train Accident Prompts Hazard Rating Increase
The Arkansas Highway and Transportation Department has increased the hazard rating for a train crossing after the recent deaths of a couple whose car was struck by a train. ATHD Railroad Crossing Coordinator Steve Weston tells the Jonesboro Sun that …
Morris Reappointed to Louisiana Workers? Comp Advisory Council
Michael D. Morris of Baton Rouge has been reappointed to the Louisiana Workers’ Compensation Advisory Council. Morris is an attorney and the chief executive officer of the Louisiana Home Builders’ Association. He will serve as a representative of self-insured industries …
Minnesota: Farmers Insurance Exchange Overcharged Renters for Auto Coverage
Minnesota Commerce Commissioner Mike Rothman has ordered an insurance company to refund more than $300,000 to Minnesota drivers who were charged higher auto insurance rates solely because they were renters rather than homeowners. According to the Minnesota Commerce Department Insurance …
Louisiana Regulators Recover $4M for Insurance Policyholders
Insurance policyholders collected an additional $4 million in the first half of the year as a result of assistance provided by the Louisiana Department of Insurance (LDI). These funds are a result of staff from the LDI Office of Consumer …
Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage
A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley, Calif.-based firm called Jumpstart Insurance Solutions Inc. recently …
California Officials Clear Way for Reopening of Gas Field That Made L.A. Residents Sick
The planned reopening of a massive Los Angeles natural gas storage facility that spewed methane for months has only renewed the fight over its future. California state officials this week cleared the way for resumption at reduced capacity in the …
New York State Rejects City?s Request for Funds for Big Fire Costs
A western New York city won’t be getting state aid to cover the costs linked to a massive fire at a former steel plant last fall. The blaze started Nov. 9 in a large building on the Bethlehem Steel site …

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