Declarations

“As a surety, we don’t take sides, it would be wrong for us to do so, and we are in no way supporting the defendant.”

– Said Chubb CEO Evan Greenberg in a letter acknowledging his company’s role in providing Donald Trump with a $91.6 million appeal bond. The surety bond contract, issued by Chubb’s Federal Insurance Co. and signed by Trump, allows the former president to appeal the $83.3 million verdict against him in the E. Jean Carroll defamation case.

“These individuals took advantage of New Yorkers who stayed at home in the beginning of the COVID-19 pandemic to steal some of their most valuable assets.”

– New York Attorney General Letitia James said, announcing the guilty pleas and sentencing of nine members of a Bronx car theft ring for their roles in the theft of 45 vehicles during a six-month period from April to October 2020. Carried out during the beginning of the COVID-19 pandemic, the operation targeted cars in New York City and Westchester County that were parked on the street for days at a time. The investigation was dubbed “Operation Master Key” for the theft crew’s ability to create keys to gain access to different vehicles.

“Although reserves have stabilized since third-quarter 2023, the magnitude of the development is concerning and has had an adverse impact on Pie’s risk-adjusted capital position.”

– Insurance industry rating agency AM Best noted in a statement after placing the financial strength rating of Pie Insurance Group under review with negative implications. AM Best said the action regarding Pie Insurance Company of Columbus and Pie Casualty Insurance Company of Chicago was prompted after Pie’s financial results for 2023, “which included material underwriting losses brought on by adverse reserve development in its New York book of business.”

“Based on currently available information, Xcel Energy acknowledges that its facilities appear to have been involved in an ignition of the Smokehouse Creek fire.”

– Xcel Energy said in a statement acknowledging its involvement in the Smokehouse Creek Fire in the Texas panhandle, which quickly became the largest wildfire in the state’s history, burning more than 1 million acres. The Texas Tribune reported that in the statement Xcel disputed claims that the company acted negligently in maintaining and operating its infrastructure.

“Plaintiff would not have even bought the Cadillac vehicle to begin with had he known of this grave invasion of privacy.”

– Notes a lawsuit filed by Romeo Chicco, of Palm Beach County, Florida, against General Motors and LexisNexis Risk Solutions, claiming motorist-assistance systems like GM’s OnStar feed data to auto insurers, resulting in higher premiums for some drivers. Chicco’s lawsuit claims his premiums shot up after “erroneous” information was illegally supplied to insurance carriers. The suit claims he neither signed up for the OnStar system nor agreed to let LexisNexis share his driving data.

“As Californians grapple with record inflation and become increasingly vulnerable to climate-driven extreme weather, including catastrophic wildfires, this is a critically needed tool to help identify future risks more accurately and set rates that reflect our new reality. More accurate ratemaking will help restore balance to the insurance market and ensure all Californians have access to the coverage they need.”

– Mark Sektnan, APCIA vice president for state government relations, commented after California Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires.