A Baton Rouge, Louisiana couple was recently arrested for attempting to defraud an insurance company of approximately $30,000 and on other related charges, the Louisiana Office of the Attorney General announced this week. Agents with Attorney General Liz Murrill’s Louisiana Bureau of Investigation (LBI) found that 48-year-old Rhashiedi Porter, of Laurie Lynn Drive in Baton Rouge, and 37-year-old Sarai Stansberry, of E. Caprice Avenue in Baton Rouge, had allegedly filed a false insurance claim involving a minor parking lot accident. According to the Attorney General’s office, agents learned that Porter and Stansberry had provided sworn testimony claiming they were seat-belted…
Author: Awais
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Two transgender men are suing Kansas over a new law that invalidated their driver’s licenses and about 1,700 others for reflecting people’s gender identities and not their sex assigned at birth, arguing that the measure is “dehumanizing.” The men filed their case Thursday, the same day the law took effect, and argue that it violates rights to privacy, personal autonomy and due legal process guaranteed by the Kansas Constitution. The men also are challenging the law’s tough, new enforcement provisions for the state’s 3-year-old policy of barring transgender people from using public restrooms or other single-sex facilities associated with their…
Letters to the Editor is a periodic feature. We welcome all comments and will publish a selection. We edit for length and clarity and require full names. We Have Invested Too Much To Let Research Programs Die Quietly I have dedicated my life to research, but now that work, along with the trust, data, and progress behind it, is at risk (“NIH Grant Disruptions Slow Down Breast Cancer Research,” Feb. 3). As a rheumatologist and researcher, I have spent decades studying lupus — a chronic autoimmune disease that can affect nearly every organ system, producing symptoms that are often unpredictable and difficult to…
The group is betting big on specialty as CEO Greco eyes structural risk growth
A proposed rule would cull or revise dozens of health IT certification criteria, but providers say regulators should keep some of them to avoid shifting costs or compliance responsibilities back onto clinicians.
Florida’s Citizens Property Insurance Corporation is planning to call its $1.1 billion of Everglades Re II Ltd. (Series 2024-1) catastrophe bonds in advance of its renewal, to enable it to take advantage of current market conditions and may sponsor issuance of around $600 million of new cat bonds this year to make a saving on its risk transfer costs.As we reported earlier, Florida Citizens projected that it will need $3 billion of traditional reinsurance and / or catastrophe bonds for the 2026 hurricane season. That’s a considerably reduction from the $4.49 billion of reinsurance risk transfer it had in-force through…
The Louisiana Department of Insurance is entering a partnership with the National Insurance Crime Bureau (NICB) and digital intelligence company 4WARN to combat third-party litigation funding (TPLF) marketing tactics. The department said the partnership is the first of its kind to protect consumers from TPLF entities that use digital tactics to drive insurance claims into unnecessary litigation. Third-parties can mislead consumers into believing they are communicating with their insurance companies, the LDI said, only to steer policyholders into long and costly legal disputes before they reach out to their insurance company. The U.S. Chamber of Commerce Institute for Legal Reform…
London’s marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday. Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd’s Market Association and representatives from the London insurance company market, is watched closely and influences underwriters’ considerations over insurance premiums. The JWC added waters around Bahrain, Djibouti, Kuwait, Oman and Qatar to high-risk areas, the statement showed. Read more: Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates The JWC agreed to revise the areas…
Terrorism insurance pricing in the U.S. is hovering at an all-time low — a surprising reality at a time when geopolitical tensions, domestic extremism, and global instability dominate headlines. It comes down to the age-old dynamic of supply and demand, according to Peter Bransden, head of crisis management, North America, at Willis. “Terrorism insurance has been a profitable line of business for insurers,” Bransden told Insurance Journal. “There has not been a market-moving loss in the U.S. in 25 years.” Bransden said U.S. standalone terrorism insurance capacity has increased to more than $2 billion, with additional support from London. Competition…
For people with Medicare, the Medicare Part D outpatient prescription drug benefit is provided by private plans, either Medicare Advantage plans that offer Part D drug coverage (MA-PDs) or, for those in traditional Medicare, stand-alone prescription drug plans (PDPs). While most beneficiaries are enrolled in Medicare private plans on an individual basis, some have coverage through a group plan sponsored by an employer or union providing retiree health benefits, either group MA plans that cover Medicare Part A and B benefits, which can also include Part D coverage, or group PDPs that cover prescription drugs only. Analysis of recently released…
Four business owners and a trade association sued the state of Texas on Monday, seeking to reverse acting Comptroller Kelly Hancock’s emergency rules altering a state program intended to give additional exposure to economically disadvantaged groups in government contracting. During an afternoon news conference in Austin, the business owners said they are suing because they all lost out on government contracts after Hancock stripped their Historically Underutilized Business Program certification in December. “In this country, the legislature passes the laws, not the comptroller, and Texas is no different,” Alphonso David, president & CEO of the Global Black Economic Forum, and…
Holmes Murphy announced its expansion into North Dakota with the hiring of Mark Julik. Julik joins Holmes Murphy with a wealth of insurance and construction–industry expertise, shaped by more than 18 years at Marsh McLennan Agency. During his tenure as MMA’s construction practicelLeader, he was a trusted advisor to builders and contractors, helping them navigate everything from complex contract reviews to safety initiatives and risk–transfer strategies. Prior to MMA, Julik spent nearly five years at Gallagher. Was this article valuable? Yes No Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get…
Florida-based NextEra Energy Inc., one of the world’s largest electric utilities, has settled a class-action lawsuit, agreeing to pay $8 million to some 20,000 employees who said the company had mishandled retirement funds. Plaintiffs’ attorneys’ fees should not exceed 33% of the gross settlement amount, reads the settlement agreement, filed in U.S. District Court in Southern Florida. The largely self-insured NextEra, owner of Florida Power & Light and one of the world’s largest renewable energy enterprises, did not admit liability in the settlement. It did agree to establish a settlement fund to be allocated to affected employees—an average of about…