An Indiana appeals court ruled that additional insured coverage ends at vicarious liability in a fatal trucking crash case. On Oct. 16, the Court of Appeals of Indiana decided Transport Leasing/Contract Inc. must bear responsibility for direct negligence claims without insurance protection from Northland Insurance Company. The 2019 accident killed Alanna Koons and her twin…
Many US insurers are stalling in their efforts to update technology systems, according to a West Monroe study. About 20 percent have set modernization goals but show minimal advancement, while another 12 percent remain in initial planning phases, and 2 percent have yet to begin. Nearly half of the surveyed firms rely on core platforms…
American life insurers and annuity providers raised their private credit investments by 6 percent last year as alternative lenders expanded operations into commercial finance markets. Asset management companies and private equity groups acquired insurance carriers or bought minority stakes to access stable capital sources and manage investment portfolios. Private placement bonds climbed 6.3 percent to…
A pipe manufacturer filed federal court papers accusing Liberty Mutual Fire Insurance Company of abandoning coverage obligations after construction defects emerged at two buildings. Spears Manufacturing Company says the carrier ignored claims tied to failed plumbing systems at Louisiana and Colorado properties despite valid policies covering the damage periods. The company notified the insurer about…
A Delaware court suspended legal proceedings over 9.5 million in directors and officers insurance claims tied to former uBiome executives until California federal judges rule on jurisdiction questions. The litigation trust seeks to have Evanston Insurance Company, Wesco Insurance Company, and Great American Insurance Company cover defense costs for Jessica Richman and Zachary Apte, who…
New Mexico insurance regulators doubled the commercial property coverage caps to 2 million through the state FAIR Plan for businesses unable to secure private-market policies. The increase from 1 million dollars addresses rising wildfire risks and reconstruction expenses affecting companies in affected regions. Superintendent Alice Kane said the adjustment helps more than 280 enrolled businesses…
Insurance companies face hundreds of millions of dollars in claims after multiple storm systems struck American regions between Oct. 10 and Oct. 14. A nor’easter flooded communities from the Carolinas through New England, while Typhoon Halong damaged more than 600 buildings in western Alaska. Wind and water destruction extended across Arizona, New Mexico, and Colorado…
Howden hired Ron Borys to oversee financial lines operations across the United States as the brokerage expands its retail presence. Borys will manage the practice from New York and report to chief executive Mike Parrish while collaborating with global financial lines leader Adam Codrington. He previously directed the financial institutions group at Alliant Insurance Services…
Physicians Insurance selected David Carlson to lead the company, starting November 1, after William Cotter’s retires from 35 years of service. Carlson serves as the chief medical officer and vice president of operations at Virginia Mason Franciscan Health in Washington state. He joined the board in 2018 and chaired it from 2019 through 2023 while…
Zurich Insurance Group selected 10 technology companies as winners of its 2025 Innovation Championship after evaluating solutions that address industry challenges through artificial intelligence and automation. The Swiss insurer picked two firms from 25 pilot programs launched this year, with Nexoya earning recognition for marketing budget optimization and Optimizely Opal receiving honors for personalized customer…
