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News Archives - Insurance Journal
Texas Man Sentenced for Hotel Investment Fraud Scheme
An Austin, Texas man was sentenced to 70 months in prison and ordered to pay $5,052,366.92 in restitution for his role in a fraud scheme. According to court documents, from 2012 until June 2018, Jason Michael Schubert, 47, devised a …
POSTED MAY 19, 2022 4:54 PM |
Texas Division of Workers’ Comp Adopts Income Benefits Form
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) said it has adopted a new form: DWC Form-033, Request to Reduce Income Benefits Due to Contribution (DWC Form-033), effective immediately. The DWC said the adoption of the form is …
POSTED MAY 19, 2022 3:53 PM |
Northern Michigan Wildfire 98% Contained
A wildfire in a heavily forested area of northern Michigan is now 98% contained and all road closures in the area have been lifted, state officials said Tuesday. The Michigan Department of Natural Resources said a stretch of the Black …
POSTED MAY 19, 2022 3:48 PM |
North Carolina Judge Orders Lindberg to Give Up Control of Firms to Repay Insurers
A North Carolina court has ordered jailed insurance and business entrepreneur Greg Lindberg to relinquish control of hundreds of his firms in a plan to salvage four of his insurance companies. The judge in Wake County found that Lindberg committed …
POSTED MAY 19, 2022 3:47 PM |
NWS Confirms Weak Tornadoes in Kansas, Nebraska
The National Weather Service has confirmed a series of weak tornadoes across rural parts of northwestern Kansas and a county in southwestern Nebraska along the Kansas line. The tornadoes hit Tuesday afternoon as a line of storms moved across the …
POSTED MAY 19, 2022 3:45 PM |
Alera Group Acquires West Michigan Insurance
Alera Group acquired West Michigan Insurance Inc., a Property & Casualty insurance agency based in Grand Rapids, Michigan, with office locations in Shelby, Michigan, and Hart, Michigan. Founded in 1924, West Michigan Insurance brings a vast array of insurance and …
POSTED MAY 19, 2022 3:43 PM |
US Narrows Scope of Anti-Hacking Law Long Hated by Critics
The US Department of Justice is changing its policy around a controversial anti-hacking law, addressing longstanding complaints from cybersecurity researchers that the law could criminalize good-faith efforts to improve technology. The Computer Fraud and Abuse Act, or CFAA, is a …
POSTED MAY 19, 2022 3:33 PM |
Home, Commercial Rate Hikes Not Enough to Offset Construction Costs: Moody’s
To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s Investor Service. The rating agency said insurers have been “raising …
POSTED MAY 19, 2022 3:24 PM |
Allianz Buys Majority Stake in Jubilee General Insurance Co. of Tanzania
Allianz has acquired a 51% stake in Jubilee General Insurance Co. of Tanzania Ltd. from Jubilee Holdings Ltd. (JHL) and the Aga Khan Fund for Economic Development (AKFED). JHL will retain a 15% stake and six minority shareholders will maintain …
POSTED MAY 19, 2022 2:50 PM |
Policies’ Arbitration, AOB Endorsements are Unconstitutional, Florida Lawsuit Claims
Recent moves by two Florida insurers to limit litigation and restoration expenses – and regulators’ approval of those policy endorsements – have met with a constitutional challenge from contractors. One Florida law professor said the suit is likely to see …
POSTED MAY 19, 2022 2:09 PM |
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