Judge’s Verdict: Trump’s Asset Inflation Unlawful
In a seminal ruling, Judge Arthur Engoron found that former President Donald Trump and his organization misled financial institutions, including insurance companies, by significantly inflating asset values and misrepresenting his net worth in official documents.
September 27, 2023
Fraud
New York
The Cannabis Conundrum: How Federal Policy Hampers Workers’ Comp’s Reimbursement for Medical Use
Ask the regulating bodies of all 50 states and several territories of the United States about medical cannabis and you’re likely to receive as many answers about what should be done.
September 27, 2023
Workers' Compensation
Arch Insurance Seeks Correction in Varsity Brands’ Policy Amid Abuse Litigation
Varsity Brands’ insurance company has asked a federal judge to correct what it says was a ‘mistakenly truncated’ policy that could end up costing it millions in light of the spate of sex-abuse litigation filed against the cheerleading giant.
September 26, 2023
Liability
Litigation
Tennessee
Lawsuits Invoke ’Inherently Dangerous Activity’ in Maui Wildfire Cases
Hawaii courts soon may have to address a novel legal question related to the Maui wildfires: whether allowing invasive grass to grow unheeded on one’s property is the legal equivalent of keeping radioactive waste, dynamite or a dangerous wild animal.
September 26, 2023
Liability
Litigation
Hawaii
Florida Insurance Adjusters and Contractor Arrested in $57K Fraud Scheme Targeting Elderly Victim
Four individuals, including two licensed public insurance adjusters, one unlicensed insurance adjuster, and a mold contractor, have been arrested on multiple felony charges for their alleged involvement in a scheme to defraud a 94-year-old woman and Citizens Insurance.
September 26, 2023
Fraud
Property
Florida
Lawsuits Target MGM and Caesars Casinos Over Cyberattacks
Five class action lawsuits filed against MGM Resorts International and Caesars Entertainment seek to punish the casino giants for failing to protect customers in September’s cyberattacks.
September 26, 2023
Excess & Surplus Lines
Litigation
Nevada
Zombie Apocalypse: Businesses Face Liability from Distracted Walkers
Smartphone zombies (i.e. pedestrians who use their phone while walking) aren’t just hazardous to themselves; this phenomenon also poses a major risk for insured businesses.
September 25, 2023
Liability
California Governor Vetoes Self-Driving Truck Bill
California Gov. Gavin Newsom has vetoed a bill to require human drivers on board self-driving trucks, a measure that union leaders and truck drivers said would save hundreds of thousands of jobs in the state.
September 25, 2023
Legislation & Regulation
California
How Proposition 103 Worsens Risk Crisis in California
California is not the only U.S. state struggling with insurance availability and affordability, but -- as described in a new Triple-I Issues Brief -- its problems are exacerbated by a three-decades-old legislative measure that severely constrains insurers’ ability to profitably insure property in the state.
September 25, 2023
Insurance Industry
Legislation & Regulation
Underwriting
California
Minivan Safety Ratings Highlight Second-Row Issues
In a recent report by the Insurance Institute for Highway Safety (IIHS), minivans, a popular choice among parents for family transportation, are facing criticism for their second-row seating safety ratings.
September 25, 2023
Auto
California Insurance Commissioner Strikes Unwritten Agreement with Industry to Revive Home Insurance Coverage
After a summer that saw many of California’s top home insurers pull back from the state market, Insurance Commissioner Ricardo Lara announced Thursday that he struck a deal with the insurance industry to encourage new coverage in the state.
September 22, 2023
Insurance Industry
Legislation & Regulation
California
Hawaii Property Owners Challenged in Unprecedented Wildfire Lawsuit
The devastating Hawaii wildfires prompted a groundbreaking lawsuit filed by Harold Wells, whose daughter lost her life in the inferno.
September 22, 2023
Liability
Litigation
Hawaii
We Could Use a Little ‘Nudge’
The system of processing and handling insurance claims is fraught with inefficiencies. That is not to say it is entirely flawed, but, if we are being honest, we have all heard the same refrains for years.
September 22, 2023
Insurance Industry
Shutdown Threat Looms Over U.S. Flood Insurance
Even as the 2023 Atlantic hurricane season proves to be more intense than originally predicted, federal funding for the National Flood Insurance Program (NFIP) is threatened by a potential government shutdown.
September 22, 2023
Legislation & Regulation
Property
It’s Not an "Insurance Crisis" -- It’s a Risk Crisis
Ten states -- Louisiana, Florida, Idaho, Kentucky, Mississippi, Montana, North Dakota, South Carolina, Texas, and Virginia -- as well as additional plaintiffs, are suing the Federal Emergency Management Agency (FEMA) over its new methodology for pricing flood insurance, Risk Rating 2.0.
September 21, 2023
Legislation & Regulation
Property
Florida
Idaho
Kentucky
Louisiana
Mississippi
