Industry News

Insurance Journal

AccuWeather Raises Texas Damage, Loss Estimate from Winter Storm to $130B

Mar 05, 2021 Damage costs and economic losses from the intense winter storm that hit the country in mid-February may rise to as much as $130 billion in Texas...

Louisiana AG Backs $100M Deal in Freeport McMoRan Coastal Damage Suit

Mar 05, 2021 Attorney General Jeff Landry has said he’s backing a $100 million settlement between a dozen coastal parishes and mining corporation Freeport...

Weeks After Storms, Water Crisis Continues in Mississippi

Mar 05, 2021 Frustrations are mounting in Mississippi’s largest city, more than two weeks since winter storms and freezing weather ravaged the city’s water system...

Heading into Spring Flooding Season, Missouri River Remains Low

Mar 05, 2021 This year is shaping up to be drier than normal throughout the Missouri River basin, and the risk of flooding is generally below normal throughout the region...

Best's Reviews

AM Best Downgrades Credit Ratings of American Capital Assurance Corp; Places Ratings Under Review with Negative Implications

Mar 05, 2021 AM Best has downgraded the Financial Strength Rating to C (Weak) from A- (Excellent) and...

Popular Band Files $6.6 Million Lawsuit Against Lloyd’s Over Canceled Tour

Mar 05, 2021 Famous band, The Chicks, has filed a lawsuit seeking $6.6 million in damages from Lloyd’s to cover losses incurred last year when the COVID...

AM Best Withdraws Credit Ratings of Georgia Casualty & Surety Company

Mar 05, 2021 AM Best has withdrawn the Financial Strength Rating of A-(Excellent) and the Long-Term Issuer Credit Rating of “a-” of Georgia Casualty...

New Zealand Court Sets Claims Deadline in 2019 Gas Explosion

Mar 05, 2021 A High Court of New Zealand judge has granted a request by QBE Insurance (Australia) Ltd., setting a deadline for claims to be submitted in a 2019 gas...

Claims Journal

CoStar Drops Bid to Purchase CoreLogic, Blaming Rising Rates

Mar 05, 2021 CoStar Group Inc. has withdrawn its bid to buy the real estate data firm CoreLogic Inc, according to a statement on Thursday. CoreLogic, the subject of a bidding war in...

Upstream Tailings Dams Pose Much Higher Stability Risks, Study Finds

Mar 05, 2021 The most widespread type of dam used to store mine waste is nearly twice as unstable as the average tailings facility, a global study showed on Friday,...

Insurers Rewrite Business Policies After Pandemic Legal Tussles

Mar 05, 2021 NEW YORK — U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus...

Democrats Seek Closure of Youth Center Amid Abuse Claims

Mar 05, 2021 CONCORD, N.H. (AP) — Three Democratic lawmakers are asking Republican Gov. Chris Sununu to shut down the state’s youth detention center amid growing allegations of...