Pennsylvania is seeking $2.65 million in penalties from a utility company over the March 2023 natural gas explosion at a chocolate factory that killed seven workers and injured 10 others. The Pennsylvania Public Utility Commission’s (PUC) has filed a formal complaint against UGI Utilities, Inc. following its investigation into the explosion at the R.M. Palmer Co. chocolate factory in West Reading, Berks County. The complaint alleges 27 violations of state and federal safety regulations governing natural gas distribution systems. PUC is seeking a total of $2,576,627 in civil penalties — the maximum amount permitted by law — along with a…
Author: Awais
The head of the American Hospital Association attempted to defend consolidation. Members of a House Energy and Commerce subcommittee were unmoved.
Sure, an insurance technology platform, announced the launch of a new digital jewelry insurance program underwritten by JM Specialty Insurance Company, a member insurer of the Jewelers Mutual Group. Developed in collaboration with Jewelers Mutual and built to meet its specialized underwriting and coverage standards, the program reflects a modern approach to specialty insurance and is delivered end to end on Sure’s configurable insurance platform. The program enables rapid launch and long-term scalability. Jewelers Mutual Group selected Sure to provide the technology foundation needed to bring its jewelry insurance product to market through a seamless digital consumer experience. The jewelry…
The search for the country’s outstanding BDMs will end on Friday, March 27
Pravina Ladva, group chief digital & technology officer at Swiss Re, highlighted claims and underwriting as standout examples. “In commercial insurance, we handle over 40,000 claims a year. AI helps us process them faster, detect fraud, and pay claims quicker, which is the moment of truth for customers,” she said.
The Florida Office of Insurance Regulation’s agenda for its April 15-16 Insurance Summit includes sessions on financial reporting by insurers, changes in data calls, and compliance with orders, along with insights from insurance executives on the use of artificial intelligence. Registration for the two-day Tallahassee conference is open until March 30 and can be accessed here. Attendees will hear from Florida Commissioner Michael Yaworsky and deputy commissioners, along with California Insurance Commissioner Richard Lara, Missouri Director Angela Nelson, and Louisiana Commissioner Tim Temple. Other panelists at the summit will include a consumer representative, OIR’s general counsel and the head of…
A federal judge in Chicago on Wednesday said two former McDonald’s vice presidents can proceed with their lawsuit that they were criticized and subjected to racial slurs because they are Black women, and then forced out of the company for complaining. In a mixed ruling for McDonald’s, U.S. District Judge Mary Rowland dismissed claims that the fast-food giant discriminated against Victoria Guster-Hines and Domineca Neal by passing them over for a promotion, saying they had not shown they were the best candidates for the role they had both sought. But Rowland said allegations in the 2020 lawsuit that a regional…
On What the Health? From KFF Health News, distributed by WAMU, chief Washington correspondent and host Julie Rovner sat down with Drew Altman, president and CEO of KFF, to talk about the likelihood of a national health care debate to rein in costs. As the midterm elections approach, the cost of health care is the public’s top economic concern, Altman said. Although past reforms have significantly increased the number of people with health insurance, they have not successfully addressed affordability, he said. Altman said the U.S. health system poses two major problems: Americans’ concerns about how to pay for their…
The Lloyd’s of London insurance market will continue to provide cover for vessels traveling through the Strait of Hormuz even as shipowners avoid the area, according to chief executive officer Patrick Tiernan. Shippers seeking insurance for tankers going through the strait “is pretty rare at the moment because people are focused on safety and security,” Tiernan told Bloomberg Television in an interview on Thursday. Shipping through the Strait of Hormuz — which carries about a fifth of global oil flows, as well as gas, fertilizer and other products — has effectively ground to a halt since the US and Israel…
Trident Marine Managers, a Ryan Specialty managing general underwriter, announced the appointment of Karolina Krol as Chief Operating Officer, effective immediately. Trident offers specialty marine and offshore energy insurance solutions and is part of Ryan Specialty Underwriting Managers, the underwriting management division of Ryan Specialty. Krol has over 20 years of insurance industry experience. In this role, Krol will oversee Trident’s day-to-day operations, operational strategy, and cross-functional alignment to ensure that its execution remains disciplined, efficient, and tightly aligned with its long-term vision. Trident is a Houston-based specialty marine and offshore energy MGU dedicated to serving the insurance needs of…
The Brookings Institution’s Hamilton Project has released a proposal for a federal reinsurance backstop called US Re to leverage federal borrowing capacity and stabilize the country’s homeowners insurance market. “Properly constructed, US Re could improve resilience while maintaining the benefits of market incentives,” authors of the plan from the think tank said. While the idea of a federal reinsurance backstop is “well-intentioned,” Dave Snyder, vice president for policy, research, and international for the American Property Casualty Insurance Association, said it raises “serious questions.” “The federal backstop being proposed does not address the real drivers of affordability challenges, including growing risk,…
A 7-ton meteor that sped across the Cleveland sky at 45,000 miles (72,420 kilometers) per hour on Tuesday before breaking apart in a thunderous boom startled residents who feared an explosion. People several states away reported seeing the bright fireball even though it was 9 a.m. The American Meteor Society said it received reports from Wisconsin to Maryland. NASA later confirmed that it was a meteor nearly 6 feet (1.83 meters) in diameter. “This one really does look like it’s a fireball, which means it’s a meteorite — a small asteroid,” said astronomer Carl Hergenrother, the group’s executive director. “So…
MEMIC Promotes Jarrard and Roberts to Territory Manager Roles Sunny Jarrard The MEMIC Group, headquartered in Portland, Maine, promoted Sunny Jarrard to territory manager for its Southeast Region and Benjamin Roberts to territory manager for its Northeast Region. Jarrard will guide MEMIC’s business across Virginia, Maryland, D.C., and Delaware, while also supporting the company’s portfolio in Tennessee. She will continue to lead MEMIC’s loss sensitive business, helping advance strategic initiatives and ensuring profitable growth across key markets. Jarrard joined MEMIC in 2021 as a loss sensitive underwriter and was later promoted to loss sensitive segment leader. Benjamin Roberts Roberts will…
The launch of Hiscox Capital Partners, which brings together under a single structure all the capital partnership activity that Hiscox Re has managed for nearly two decades, represents a natural evolution for Hiscox, as it allows the firm to go to market with a broader, more coherent proposition that meets capital partners where they are, according to Liz Breeze, Head of Hiscox Capital Partners.We recently spoke to Breeze about a number of different topics, such as why now was the right time for the rebranding, and how Hiscox Capital Partners can provide institutional investors with better access to the insurance-linked…