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News – Insurance Journal
Nevada Supreme Court Rules Undocumented Injured Worker Can Get Benefits
The Nevada Supreme Court has ruled that an undocumented worker is entitled to permanent disability. The court ruled on Nov. 23 that an undocumented worker suffering trauma due to a workplace accident is entitled to permanent total disability, despite a …
POSTED NOVEMBER 25, 2020 9:03 PM |
California OKs Workers’ Comp Advisory Rates, No Virus Adjustment for Now
California Insurance Commissioner Ricardo Lara has adopted and issued a revised average advisory pure premium rate, lowering the benchmark to $1.45 per $100 of payroll for workers’ compensation insurance, effective Jan. 1, 2021. This marks the tenth consecutive reduction to …
POSTED NOVEMBER 25, 2020 7:11 PM |
Louisiana School Superintendents Seeking Looser Quarantine Rules
Leaders of several Louisiana public school systems have called on state officials to relax coronavirus quarantine rules that have sent thousands of students home from school because they have been in close proximity to someone who tested positive for COVID-19. …
POSTED NOVEMBER 25, 2020 5:31 PM |
Texas Proposes Changes to Agent, Adjuster CE Requirements
Texas is proposing changes to continuing education (CE) requirements for agents and adjusters, and is seeking comments on the proposals. Among the CE changes proposed by the Texas Department of Insurance are: An expanded list of approved course topics. Allowing …
POSTED NOVEMBER 25, 2020 5:25 PM |
Next Virus Shutdown May Cost Washington Restaurants $800M
A four-week shutdown on indoor service at restaurants and bars prompted by an alarming statewide spike in COVID-19 cases is expected to cost the industry some $800 million, a representative said Monday. Anthony Anton, chief executive of the Washington Hospitality …
POSTED NOVEMBER 25, 2020 3:20 PM |
AIA Cuts Coal Investments as Scrutiny Grows on Financial Firms’ Carbon Assets
AIA Group Ltd. said it’s paring coal-related investment as financial firms globally face pressure to reduce their carbon assets. The Hong Kong-based insurer said it decided to end all direct equity investments in coal mining and coal-fired power producers earlier …
POSTED NOVEMBER 25, 2020 3:18 PM |
PrimeOne Insurance Co. in Utah Has Ratings Outlooks Revised to Stable
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of PrimeOne Insurance Co. in Salt Lake City, Utah. The Credit Ratings reflect …
POSTED NOVEMBER 25, 2020 3:15 PM |
California Regulator Raising Concern with PG&E’s Wildfire Safety Measures
The California Public Utilities Commission has raised concerns over certain deficiencies that it says could affect PG&E Corp.’s ability to provide safe and reliable service, the power provider disclosed in a regulatory filing on Wednesday. The regulator, in a letter …
POSTED NOVEMBER 25, 2020 3:11 PM |
Established Insurers Could See Market Share Squeezed by Fintechs, EU Says
Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …
POSTED NOVEMBER 25, 2020 2:56 PM |
Private Equity Investors Pelican Ventures, J.C. Flowers Complete Ariel Re Deal
Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform. Under …
POSTED NOVEMBER 25, 2020 2:43 PM |
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