California Gov. Gavin Newsom on Tuesday signed legislation establishing standards for investigating, testing and restoring smoke-damaged homes. Newsom signed Assembly Bill 1795, the Smoke Damage Recovery Act. The bill, authored by Assemblymember Mike Gipson and sponsored by California Insurance Commissioner Ricardo Lara, creates a presumption that smoke damage within a wildfire impact area resulted from …
Iran has expanded its Strait of Hormuz blacklist to 76 vessels and warned insurers, P&I clubs and classification societies against… Source link
Insurance company Sagen MI Canada Inc. is looking to raise around C$300 million ($216 million) through a bond sale as soon as this week, according to people familiar with the matter. The debt will likely mature in seven years, the people said, asking not to be identified as they aren’t authorized to speak publicly. Executives …
Marsh Europe chief executive succeeds John Donnelly who is retiring Source link
Iran’s Persian Gulf Strait Authority, set up by Iran to manage requests of passage in the Strait of Hormuz, published on Monday an updated list of 77 vessels “violating Iranian protocols for the Strait of Hormuz.” Concerns over global energy supply have deepened after the latest attacks around oil transit routes in the Strait of …
Lloyd's delegated authority specialist hires Gallagher Re executive as it continues US push Source link
Insurance Journal’s Risky Future series is hosting the “AI Tools for FNOL & Digital Claims” Demo Day, a series of free AI tool demonstrations designed exclusively for insurance claims leaders, including chief claims officers, innovation & transformation leaders, customer experience leaders, claims managers and more. This event will spotlight solutions that aim to change the …
MS Amlin chief executive joins association's governing body Source link
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Farm Bureau Property & Casualty Insurance Company and Western Agricultural Insurance Company, both domiciled in West Des Moines, IA and collectively known as Farm Bureau Property …
Each morning this summer, Gordon and Connie Howie have awoken on their cattle ranch in central Pennington County and turned on the kitchen faucet, unsure if any water will come out. “We can’t do laundry or dishes or take showers other than with a little trickle,” said Connie Howie, 76. “Other times we have a …
The Golden State has large network of non-profits supporting resilience work, but insurers cannot always see these efforts Source link
Six people have been convicted in a bribery scheme that enabled more than 100 people to fraudulently obtain commercial driver’s licenses, the U.S Attorney’s Office, Eastern District of Louisiana announced. Mahmoud Alhattab, a restaurant owner, led a scheme in which Commercial Driver’s License (CDL) applicants paid him an average of $5,000 to obtain unearned CDLs. …