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News

Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
  1. A U.S. labor board on Thursday overturned an Obama-era ruling that had made it easier for unions and workers to hold companies accountable for practices of contractors and franchisees, a decision welcomed by business groups that could affect a major …
  2. A Florida man was arrested last month after he was caught lying to his insurance company in an attempt to file a false insurance claim for vehicle for damage allegedly caused by Hurricane Irma, according to a statement from Florida …
  3. A.M. Best announced it has has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Affinity Mutual Insurance Co. (AMIC) in Lima, Ohio. The outlook of …
  4. A federal rule requiring certain employers to electronically submit injury and illness reports goes into effect today. The rule applies to businesses in many states with 250 or more employees that are currently required to keep OSHA injury and illness …
  5. A suburban Detroit insurance agent has been sentenced to at least six years in prison for embezzling more than $800,000 from a dozen elderly clients. Paul Garceau Jr. of Grosse Pointe Park had pleaded guilty to embezzlement by an agent …
  6. PolyMet Mining Corp. is offering the state a $544 million package of financial assurances to serve as an insurance policy to protect taxpayers from potentially having to cover the costs of closing and cleaning up a controversial copper-nickel mine it …
  7. Solvang, Calif.-based Westcap Insurance Services, LLC has expanded its admitted program for contractors to now include Arizona domiciled risks. Westcap also announced increased limits and other product enhancements to the program in the state of Washington. Westcap will now offer …
  8. Texas Sen. Larry Taylor, president of Truman Taylor Insurance in Friendswood, is closing his agency after 55 years of operation and joining Galveston Insurance Associates (GIA), effective Dec. 15. GIA has been operating on Galveston Island for 125 years and …