The trouble started with David Friend, a tenant at the Solace apartment complex in Portland, according to the filing. Friend filed a class action accusing Marathon – which, the filing says, also manages other Oregon complexes including Glendoveer Woods, Bridgeton, McKinney Lane, Bell Tower, Willamette Estates and Arris – of breaking the state’s landlord-tenant statutes in a number of ways. The allegations include monthly utility charges billed without proper documentation, an unexplained “Meter Reading” fee tacked onto rents, lease provisions that allegedly cap tenants’ legal remedies, and renter’s insurance requirements that, according to Friend, did not follow Oregon’s rules. Marathon and the…
Author: Awais
Nearly 8 in 10 reported the expensive weight loss medications are increasing their company’s healthcare costs, according to a survey by the Business Group on Health.
ACORD, the global standards-setting body for the insurance industry, announced the formation of the ACORD Inter-Association Advisory Council (IAAC). IAAC is a coalition of North American property/casualty associations representing independent agents, brokers, and intermediaries across the North American distribution channel. The IAAC aims to advance digital communication and improve the efficiency of the P/C market by ensuring data is consistent, high-quality, and standardized for organizations to succeed. The inaugural meeting on May 4 included leaders from ACORD, AUGIE Group (an insurance tech exchange), the Council of Insurance Agents & Brokers (CIAB), the Centre for Study of Insurance Operations (CSIO), the…
One quarter after Tampa-headquartered The Baldwin Group purchased CAC Group brokerage and reported a $26 million net loss, the brokerage posted just a $1.9 million loss for Q1 2026. On a per-share basis, Baldwin saw net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share. Those results fell short of Wall Street expectations for the publicly traded firm. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share, the Associated Press reported. The company posted revenue of $532 million in the period, up…
Firefighters worked through the night to extinguish a blaze at a laboratory on the University of South Florida campus in St. Petersburg and officials said Sunday that the building could be a total loss. The fire Saturday night prompted evacuations and sent up plumes of billowing smoke from the marine science lab building. No injuries were reported and no hazardous materials were released, USF President Moez Limayem wrote in a message to students and staff. The cause of the fire remained under investigation. Limayem said damage assessments were ongoing, but the destruction was extensive. “Our recovery teams are working with…
Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced this week that it has gone out of business after 34 years. The ultralow cost airline that once operated hundreds of daily flights on its bright yellow planes and employed about 17,000 people said it had “started an orderly wind-down of our operations, effective immediately.” Although Spirit had gone bankrupt twice before, the company said high oil prices, which have been rising because of the war with Iran, made it impossible to stay aloft. The airline, with offices in West Palm Beach,…
Federal Regulation and Oversight of AI Few federal standards apply specifically to the use of AI in the prior authorization and claims review process, but all coverage decision-making for both public and private coverage includes general standards intended to ensure reviews are fair, substantive, and timely. These standards are fragmented across federal agencies with separate oversight responsibilities for different health coverage markets. For private employer-sponsored plans, the federal government, through the U.S. Department of Labor (DOL), oversees claims and appeals process requirements in the Employee Retirement Income Security Act (ERISA). ERISA generally exempts self-insured plans established by private employers from…
Brotherhood Mutual Announces Leadership Promotions & Transition Brotherhood Mutual Insurance Company, headquartered in Fort Wayne, Indiana, made several changes to its executive team. Scott Figgins Scott Figgins assumes a new role as senior vice president – integration officer. He previously served as senior vice president – insurance operations since 2018. Figgins began his career with Brotherhood Mutual in 1989 as a claims adjuster. Through his career, he has served in many roles, including claims supervisor, vice president – claims, and vice president – underwriting. Dustin Grogg Dustin Grogg was promoted to senior vice president – insurance operations. Grogg previously served…
Price North Carolina’s insurance commissioner has named a financial analysis veteran to the role of senior deputy commissioner, overseeing the Company Services Group at the Department of Insurance. Jessica Price has led financial analysis at NCDOI for 15 years, and before that, was a tax auditor at the state Department of Revenue. The Company Services Group includes the DOI’s Financial Analysis Division, the Financial Examinations Division, and Financial Oversight and Special Entities divisions, Commissioner Mike Causey said in a bulletin. Price, with a bachelor’s degree in accounting and finance from Lenoir-Rhyne University, is a certified public accountant and a certified…
Kin Insurance’s sponsorship of its fourth and largest catastrophe bond, the $335 million Hestia Re Ltd. (Series 2026-1) issuance, reinforces the company’s commitment to protecting policyholders for years to come, Chief Insurance Officer Angel Conlin has said today.As we’ve been reporting, Kin Insurance successfully priced its new Hestia Re Ltd. (Series 2026-1) catastrophe bond issuance in April, which secured the company its largest amount of cat bond limit yet at $335 million of fully-collateralized named storm reinsurance. Kin managed to successfully upsize its latest Hestia Re Series 2026-1 catastrophe bond issuance from its initial $300 million size, to secure $335 million of…
Starting in July, Medicare beneficiaries may be able to get a GLP-1 prescription for weight loss for $50 a month. It’s a notable shift for Medicare, which has long been barred from covering weight loss treatments. The drugs, such as Wegovy and Zepbound, are effective but can be expensive without insurance coverage. They’re available in injection or pill form. Even with discounts, current cash prices typically range from $149 to $699 per month. About half of GLP-1 users say these drugs were difficult for them to afford, according to KFF polling. A quarter said they were “very difficult” to afford.…
Allianz Commercial announced an agreement which transitions its standalone commercial cyber insurance business to Coalition, the managing general agent and specialist cyber insurer. The agreement establishes Coalition as Allianz’s exclusive global partner for cyber insurance across all commercial segments, combining the strengths of both companies for business customers around the world. Upon completion, Coalition will take primary responsibility for pricing, product development, risk mitigation, and claims management for Allianz’s standalone commercial cyber portfolio, supported by Allianz resources for multinational and large corporate underwriting, service delivery, and claims. Allianz will also provide long-term insurance capacity to Coalition and access to its…
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Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced that its board of directors has approved a $300 million general dividend distribution for 2026. This marks the 28th consecutive year Texas Mutual has paid a general dividend to its policyholder owners. With this year’s payout, the company will have distributed more than $5.1 billion back to businesses across the state. Dividends are expected to be issued in June to approximately 74,000 qualifying policyholders. Texas Mutual’s dividend program is rooted in its mission to promote safer workplaces across the state. This year, about 90% of policyholders will…