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FARMERS FURTHER REDUCING FLORIDA BUSINESS

Farmers Insurance now says it plans to cut back further on its presence in the
hurricane-prone state.


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 * Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7
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 * Specialty P/C Insurers Outperform Their U.S. Peers: Report
 * The Hanover Insurance Group Estimates Q2 Catastrophe Losses of $262 Million
 * Travelers’ Q2 Profit Plummets on Historic-Level Catastrophe Losses
 * Jury Awards Florida Girl Burned by McNugget $800,000 in Damages
 * Liberty Mutual Announces Organizational Changes, Leading to 370 US Job Losses

 * New York City Agrees to Pay $13M to Settle Suits Over Arrests of 2020
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 * Connecticut Man Wrongly Convicted in 1984 Shooting of Baby Sues New Haven and
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 * New York Technology Firm Sued for Not Hiring Engineer Who Is Deaf
 * TD Garden Not Liable for Bruins Fan’s Slip-and-Fall
 * Gas Leak From Bad Fitting Cited in Chocolate Factory Explosion Where 7 Died
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 * Tropical Storm Calvin Passed Over Hawaii, Leaving Minor Flooding in Its Wake
 * Direct Connection in California Acquires Education Provider FastrackCE
 * Audit: California State University Campuses Mishandled Sexual Harassment
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 * People Moves: Talage in Nevada Names Fuher CEO; Kiefer Transitions to Founder
 * Containment of Massive Southern California Wildfire Grows
 * J&J Must Pay $18.8M to California Cancer Patient in Baby Powder Suit

 * Federal Court Orders Former Insurety Capital CEO to Pay $9M for Self Dealing
 * Jury Awards Florida Girl Burned by McNugget $800,000 in Damages
 * Florida Insurers Have Until Aug. 1 to Show They Have Proper Claims Manuals,
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 * Tennessee Firefighter Dead, 3 Others Hospitalized After Trapped in Burning
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 * Mayfield, Kentucky, Hit by Floods 18 Months After Devastating Tornado
 * Hurricanes Getting Costlier and Wetter, Triple I Report Finds

 * Family Sues City of New Orleans After a Falling Tree Badly Injures Teen
 * Louisiana Commissioner Directs Insurers to Talk to Policyholders as Hurricane
   Ida Claims Deadline Looms
 * Federal Government to Allow Lease of Gulf of Mexico Areas for Wind Farms
 * Texas Oil Company Fined $1.3M for Excess Emissions
 * Cancer Clusters Prompt Houston’s Multi-Million Dollar Plan to Relocate
   Affected Residents
 * Texas Mutual Insurance Company Awards Over $4 Million in Grants to Nonprofits

 * Missouri Chemical Plant Fined $393K for Safety and Health Violations
 * Northern Illinois Police Seize Carnival Ride After Boy Was Thrown From Ride
   and Seriously Injured
 * Northwestern`s ‘Rampant` Hazing was `Devastating` for Athletes of Color,
   Ex-Players Say
 * Illinois Supreme Court Refuses to Reconsider BIPA Ruling, Despite Warning
   About ‘Astronomical’ Penalties
 * People Moves: DOXA Adds New Team to Launch Property MGA
 * No Injuries or Hazardous Spills in Minnesota Train Derailment, Officials Say




NATIONAL NEWS

 * Specialty P/C Insurers Outperform Their U.S. Peers: Report
 * FTX Sues Bankman-Fried, Others to Recoup More Than $1 Billion
 * The Hanover Insurance Group Estimates Q2 Catastrophe Losses of $262 Million
 * Rutgers, Stony Brook Among Colleges Warning of Data Exposure From MOVEit Hack
 * Firms With Flexible-Work Policies Hire Faster Than Those Fully in Office:
   Research
 * Coastal Construction, Rising Replacement Values Contribute to Costly
   Hurricane Claims
 * Markets/Coverages: HUB International Launches Platform to Manage Insurance
   Needs of Franchisors, Fanchisees

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EAST NEWS

 * New York City Agrees to Pay $13M to Settle Suits Over Arrests of 2020
   Protesters
 * Connecticut Man Wrongly Convicted in 1984 Shooting of Baby Sues New Haven and
   Police
 * New York Technology Firm Sued for Not Hiring Engineer Who Is Deaf
 * TD Garden Not Liable for Bruins Fan’s Slip-and-Fall
 * Gas Leak From Bad Fitting Cited in Chocolate Factory Explosion Where 7 Died
 * Failure of Doubler-Plated Hull Likely Caused Sinking of Gloucester Fishing
   Vessel

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MIDWEST NEWS

 * Missouri Chemical Plant Fined $393K for Safety and Health Violations
 * Northern Illinois Police Seize Carnival Ride After Boy Was Thrown From Ride
   and Seriously Injured
 * Northwestern`s ‘Rampant` Hazing was `Devastating` for Athletes of Color,
   Ex-Players Say
 * Illinois Supreme Court Refuses to Reconsider BIPA Ruling, Despite Warning
   About ‘Astronomical’ Penalties
 * People Moves: DOXA Adds New Team to Launch Property MGA
 * No Injuries or Hazardous Spills in Minnesota Train Derailment, Officials Say

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CSU NOW CALLS FOR ABOVE AVERAGE HURRICANE SEASON

Colorado State University hurricane researchers have upped their hurricane
season forecast.


TEXAS / SOUTH CENTRAL NEWS

 * Family Sues City of New Orleans After a Falling Tree Badly Injures Teen
 * Louisiana Commissioner Directs Insurers to Talk to Policyholders as Hurricane
   Ida Claims Deadline Looms
 * Federal Government to Allow Lease of Gulf of Mexico Areas for Wind Farms
 * Texas Oil Company Fined $1.3M for Excess Emissions
 * Cancer Clusters Prompt Houston’s Multi-Million Dollar Plan to Relocate
   Affected Residents
 * Texas Mutual Insurance Company Awards Over $4 Million in Grants to Nonprofits

More Texas / South Central News


SOUTHEAST NEWS

 * Federal Court Orders Former Insurety Capital CEO to Pay $9M for Self Dealing
 * Jury Awards Florida Girl Burned by McNugget $800,000 in Damages
 * Florida Insurers Have Until Aug. 1 to Show They Have Proper Claims Manuals,
   OIR Says
 * Tennessee Firefighter Dead, 3 Others Hospitalized After Trapped in Burning
   House
 * Mayfield, Kentucky, Hit by Floods 18 Months After Devastating Tornado
 * Hurricanes Getting Costlier and Wetter, Triple I Report Finds

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COMMERCIAL P/C RATES HOLD; PERSONAL LINES SLIGHTLY FALL

The composite rate for U.S. commercial P/C lines increased 5% in the second
quarter, according to MarketScout.




WEST NEWS

 * Tropical Storm Calvin Passed Over Hawaii, Leaving Minor Flooding in Its Wake
 * Direct Connection in California Acquires Education Provider FastrackCE
 * Audit: California State University Campuses Mishandled Sexual Harassment
   Allegations
 * People Moves: Talage in Nevada Names Fuher CEO; Kiefer Transitions to Founder
 * Containment of Massive Southern California Wildfire Grows
 * J&J Must Pay $18.8M to California Cancer Patient in Baby Powder Suit

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INTERNATIONAL & REINSURANCE NEWS

 * Black Sea Shipping Traffic Drops 35% After Russia, Ukraine Warnings
 * Ukraine Grain Now Relies on a River That’s Drying in the Drought
 * Black Sea Threats Escalate as Ukraine Warns on Russian Ships
 * Microsoft Hit With EU Antitrust Complaint by German Rival Over Bundling of
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 * UK Support to Rejoin EU Passes 50% for 1st Time Since Brexit
 * Markets/Coverages: Insurtech Loadsure Launches Ocean Cargo, Stock Throughput
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INSURANCE JOURNAL BLOGS AND COLUMNS

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 * Fast Facts about Fidelity Bonds and Public Official Bonds Jul 6
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QUOTE OF NOTE

If the court doesn't reconsider, then in California, it's hard to believe we'll
be able to switch our model to full-time employment quickly.
Uber Chief Executive Officer Dara Khosrowshahi
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INSURANCE TOP GAINERS/LOSERS

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Company Symbol Close 1 Day Chg Trupanion, Inc.TRUP$25.53+6.95%Reliance Global
Group, Inc.RELI$4.87+4.96%Hippo Holdings Inc.HIPO$16.54+3.38%Root,
Inc.ROOT$10.18+3.04%Heritage Insurance Holdings, Inc.HRTG$4.00+2.83%

Company Symbol Close 1 Day Chg United Insurance Holdings
Corp.UIHC$3.96-4.35%Skyward Specialty Insurance Group,
Inc.SKWD$25.00-2.72%Hagerty, Inc.HGTY$9.05-1.52%Arthur J. Gallagher &
Co.AJG$214.05-1.05%Marsh & McLennan Companies, Inc.MMC$183.99-0.90%

* As of July 7, 2023; Source: S&P Global Market Intelligence


MARKET STAT

66%
The decline in revenues Ralph Lauren Corp. says is due to coronavirus in its
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   Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7
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NEWS BY TOPIC

CYBER

RUTGERS, STONY BROOK AMONG COLLEGES WARNING OF DATA EXPOSURE FROM MOVEIT HACK

PEOPLE MOVES: RENRE PROMOTES LANG TO GROUP CHIEF RISK OFFICER, SUCCEEDING
BRANAGAN; AXIS TAPS FORMER CORVUS EXEC AS HEAD OF GLOBAL CYBER & TECHNOLOGY

CYBERSECURITY LABELING FOR SMART DEVICES AIMS TO CUT HACKING VULNERABILITIES

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WORKERS' COMPENSATION

DOLLAR GENERAL AGAIN CAUGHT IN OSHA’S CROSSHAIRS; RETAILER’S FINES TOP $21M IN 6
YEARS

WORKERS’ COMPENSATION REMAINS PROFIT ENGINE FOR U.S. P/C INSURERS: AM BEST

PEOPLE MOVES: FRED C. CHURCH PROMOTES BURBINE; RODRIGUEZ REAPPOINTED CHAIR OF
NEW YORK WORKERS’ COMP

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CANNABIS

WASHINGTON’S LEGAL CANNABIS FARMS REOPEN AFTER PESTICIDE CONCERNS HALTED
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MEDICAL MARIJUANA SALES IN ARKANSAS COULD SET NEW RECORD: STATE OFFICIALS

NORTH CAROLINA MEDICAL MARIJUANA BILL LIKELY DEAD FOR THIS YEAR

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CONSTRUCTION

COASTAL CONSTRUCTION, RISING REPLACEMENT VALUES CONTRIBUTE TO COSTLY HURRICANE
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CONSTRUCTION-DEFECT SUBROGATION ON THE RISE BUT IT JUST BECAME MORE DIFFICULT IN
FLORIDA

THEFT IS ON THE RISE: IS YOUR CONSTRUCTION SITE SECURE?

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TRENDS

COASTAL CONSTRUCTION, RISING REPLACEMENT VALUES CONTRIBUTE TO COSTLY HURRICANE
CLAIMS

CRYPTO RANSOMWARE ATTACKS RISE IN FIRST HALF OF 2023: CHAINALYSIS

CLIMATE CHANGE LEADS TO ‘ARCTIC OPENING,’ CREATING KEY EMERGING RISK: SWISS RE

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REINSURANCE

REINSURANCE BROKER, AUGMENT, LAUNCHES WITH ACCESS TO $100M IN FUNDING

WHY THE INVESTOR-DRIVEN HARD REINSURANCE MARKET WILL PERSIST

WILL S&P CHANGE ‘NEGATIVE’ REINSURANCE OUTLOOK TO ‘STABLE’ IN 2023?

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PROFIT LOSS

THE HANOVER INSURANCE GROUP ESTIMATES Q2 CATASTROPHE LOSSES OF $262 MILLION

UPDATE: ALLSTATE ESTIMATES CATASTROPHE LOSSES OF $1 BILLION IN JUNE, $2.7
BILLION IN Q2

MARSH MCLENNAN BEATS Q2 PROFIT ESTIMATES ON HIGHER INTEREST INCOME

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INSURTECH

MARKETS/COVERAGES: INSURTECH LOADSURE LAUNCHES OCEAN CARGO, STOCK THROUGHPUT
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CLAIMS INSURTECH TRACTABLE AI RAISES $65M IN FUNDING LED BY SOFTBANK

IS AUTOMATION THE ANSWER TO MICROBUSINESS INSURANCE PROFITABILITY?

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MERGERS & ACQUISITIONS

DIRECT CONNECTION IN CALIFORNIA ACQUIRES EDUCATION PROVIDER FASTRACKCE

TOKIO MARINE HCC ACQUIRES MISSISSIPPI-BASED MEDICAL PLAN ADMINISTRATOR

DIGITAL ASSET INSURER EVERTAS ACQUIRES BITSURE, CRYPTO MINING INSURANCE
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INSURANCE JOBS

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 * Landslide Triggered by Heavy Rains Kills 10 and Traps Many Others in Western
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 * Tornado Damages Pfizer Plant in North Carolina as Scorching Heat and Floods
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 * Jury Awards Florida Girl Burned by McDonald`s Chicken McNugget $800,000 in
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 * July 27 Mitigating the Risks of A Tight Labor Market Using Effective WC
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