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News – Insurance Journal
Risk Management (or Lack Thereof) and Texas’ Deep Freeze Energy Failures
While renewable energy sources such as wind turbines and solar panels fuel a fraction of the state’s energy grid, the bulk of Texas’ power is supplied by natural gas, coal and nuclear plants, with natural gas power plants generating nearly …
POSTED FEBRUARY 25, 2021 11:50 PM |
Auto Insurers Slam Nevada Pandemic Lawsuits
The American Property Casualty Insurance Association is responding strongly to new litigation the group says is an attempt to capitalize on the ongoing pandemic by targeting the auto insurance marketplace. Class action lawsuits were filed in Nevada against 10 major …
POSTED FEBRUARY 25, 2021 6:15 PM |
After Texas Power Failures, South Carolina Gov Wants Winter Storm Review of Grid
South Carolina Gov. Henry McMaster wants the state’s electric providers to review their power grids to see if they could face problems like what happened in Texas during the recent winter storm. McMaster sent a letter Friday to the Office …
POSTED FEBRUARY 25, 2021 5:55 PM |
South Dakota AG’s Cellphone Use Before Deadly Crash Questioned
Investigators questioning South Dakota’s attorney general after a fatal car crash pressed him on how he did not realize he had struck a man and whether he had been reading email and checking news sites on his phone immediately before, …
POSTED FEBRUARY 25, 2021 5:33 PM |
Flood Risk in Iowa, Nebraska Appears Low with Gradual Snow Melt
The risk of flooding generally remains low across most of Nebraska and Iowa because the snow across both states is expected to melt gradually in the coming days. But the amount of ice on some rivers, particularly the Platte River …
POSTED FEBRUARY 25, 2021 5:20 PM |
North Dakota House Passes Bill That Would Legalize Recreational Marijuana
The Republican-controlled House has passed legislation to legalize recreational marijuana in North Dakota. Lawmakers also passed a related bill setting up a tax policy for marijuana. Both bills now go to the Senate. The legislation restricts recreational marijuana to people …
POSTED FEBRUARY 25, 2021 5:06 PM |
Legacy Specialist Enstar Provides $2.3B Adverse Development Cover for AXA XL
Enstar Group Ltd. announced that one of its wholly owned subsidiaries has signed an agreement to provide adverse development cover to AXA XL, a division of AXA. In the transaction, Enstar’s subsidiary will cover losses incurred on or prior to …
POSTED FEBRUARY 25, 2021 4:45 PM |
Chubb’s Digital Blink Targets Consumer Sales via Partner, Affinity Companies
Chubb has launched a digital platform for selling selected insurance coverages to “digitally savvy” consumers, primarily through affinity, company and digital broker partners of Chubb to their members, employees and customers. The platform, Blink by Chubb, represents a new brand …
POSTED FEBRUARY 25, 2021 4:29 PM |
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B
Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year. The reinsurer’s Q4 2020 profit dropped to €212 million (US$258 million) from €217 million …
POSTED FEBRUARY 25, 2021 4:18 PM |
Déjà Vu: P/C Insurance Challenges for 2021 Look Much Like 2020’s, Says AM Best
The U.S. property/casualty insurance (P/C) industry could experience déjà vu in 2021 in terms of financial results. Many factors that insurers encountered in 2020 likely will continue to impact the financial performance of the U.S. property/casualty (P/C) industry in 2021, …
POSTED FEBRUARY 25, 2021 3:44 PM |
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