Monthly Archives: <span>June 2018</span>

Business News: Ascot, CNA, AutoClaims Direct

Ascot to Acquire Greyhawk Insurance Company Ascot US Holding Corporation announced the acquisition of Greyhawk Insurance Company, and its wholly owned subsidiary Greyhawk Specialty Insurance Company (“Greyhawk Specialty”). Greyhawk is a Colorado domiciled admitted lines insurer and has been in …

Central Oregon City Sues After Company Cuts Down Christmas Tree

A city in central Oregon seeks $62,000 from a tree removal company that accidentally cut down a big spruce that was slated to become the city’s Christmas tree. In a lawsuit filed last week, Redmond officials allege that workers trespassed …

Florida Makes Few Changes for Upcoming Hurricane Season

Florida’s governor and Legislature promised a dizzying array of fixes following the devastation of last year’s hurricanes. But heading into a new storm season, the state has enacted only a few changes – the largest aimed at protecting seniors in …

Atlantic Hurricane Season Prediction Reduced

Subtropical Storm Alberto kicked off the Atlantic hurricane season a week early, but don’t take that as a harbinger of terrible weather. In fact, cooler ocean temperatures are already spurring researchers to scale back forecasts for this year. Expect six …

Cities Still Await 2017 Aid as New Hurricane Season Starts

Allen Owen, the mayor of Missouri City, Texas, wants to do more to protect his town from the next disaster. But the city hasn’t gotten any of the roughly $1 million in federal disaster funds he said it’s owed after …

Tennessee High Court Upholds Cutting $150M in Mall Flood Coverage

In a blow to the owner of Opry Mills Mall, the Tennessee Supreme Court has let stand a lower court’s ruling that stripped $150 million of insurance coverage for the 2010 flood. The state’s highest court announced Monday that it …

Second 1000 Year Flood in 2 Years Worries Maryland Town’s Residents

After yet another devastating flash flood ripped apart their historic Maryland mill town, hundreds of residents and business owners are again asking themselves: Should I stay or should I go? Some business owners in picturesque Ellicott City – established in …

CoreLogic: 6.9M Homes Face Hurricane Storm Surge Damage Risk, $1.6T in Potential Reconstruction Costs

More than 6.9 million homes along the Atlantic and Gulf Coasts are at potential risk of damage from hurricane storm surge inundation with a total reconstruction cost value (RCV) of more than $1.6 trillion (Table 1), according to CoreLogic, a …

Fitch: Experts Forecast a Near Normal Hurricane Season for 2018

After enduring one of the more active hurricane seasons in recent memory, U.S. P/C insurers are well positioned for what is pointing to an average hurricane season in 2018, according to Fitch Ratings in its annual hurricane season preview report. …

WCRI: Illinois’ Workers’ Comp Claim Total Cost Grew 1-3% Annually Since 2012

The average total cost per workers’ compensation claim in Illinois grew annually anywhere from 1 to 3 percent since 2012, according to a recent study by the Workers Compensation Research Institute (WCRI). “Due to small to moderate changes in medical …