Wed, 25 May 2022 07:49:10 +0000
India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three people aware of the matter told Reuters. Fou...
Wed, 25 May 2022 05:30:40 +0000
Ford Motor Co. will pay $19.2 million to resolve allegations it falsely advertised real-world fuel economy and payload capacity for some hybrids and pickup trucks, the Iowa Attorney General’s Office said on Tuesday. The multi-state settlement covers 20...
Wed, 25 May 2022 05:00:50 +0000
New York City has agreed to pay $7 million to a man who spent 23 years behind bars for a murder he didn’t commit, Comptroller Brad Lander said Monday. Grant Williams was exonerated last July in the 1996 shooting of …
Wed, 25 May 2022 05:00:42 +0000
Arthur J. Gallagher & Co. acquired Menlo Park, California-based Valerie Frederickson & Company Inc., dba Frederickson Partners. Founder Valerie Frederickson and her team will continue to operate under the direction of Scott Hamilton, global managing di...
Wed, 25 May 2022 05:00:28 +0000
Traffic at the Port Authority of New York and New Jersey’s bridges and tunnels has returned to pre-pandemic levels, partly due to changes in traveling habits, the agency’s Executive Director Rick Cotton said. “At the bridges and tunnels, the volumes …
Wed, 25 May 2022 05:00:19 +0000
Tesla Inc. must keep defending itself in open court against claims that female employees face “rampant sexual harassment” in its largest California factory, a California judge ruled, spurning the company’s request for closed-door arbitration. Alameda C...
Tue, 24 May 2022 22:34:54 +0000
The Atlantic hurricane season is poised to deliver another round of above-normal storms for the seventh consecutive year, the National Oceanic and Atmospheric Administration (NOAA) said on Tuesday. NOAA forecasters estimate 14 to 21 named storms, six t...
Tue, 24 May 2022 16:17:15 +0000
Insight Risk Targets Builder’s Risk Water Damage Losses Insight Risk, a technology-focused Builder’s Risk managing general agent (MGA), announced it is launching an innovative model designed to reduce water damage losses on commercial occupancies by up...
Tue, 24 May 2022 15:55:30 +0000
A data breach at the Texas Department of Insurance (TDI) exposed confidential information of 1.8 million Texans for nearly three years, according to a brief from the State Auditor’s Office. The audit report said confidential information related to work...
Tue, 24 May 2022 15:29:54 +0000
Residential property. complaints against Louisiana insurance companies skyrocketed in the aftermath of 2020 and 2021 hurricanes, according to a report released this month by the Louisiana Legislative Auditor. The Louisiana Department of Insurance (LDI)...
Tue, 24 May 2022 15:25:45 +0000
TransUnion’s latest Personal Lines Insurance Shopping Report found the number of consumers who accepted a telematics offer from their auto insurance provider increased 33% since the end of 2021—a trend driven by consumers hoping to lower their premiu...
Tue, 24 May 2022 15:21:17 +0000
This edition of International People Moves details appointments at Arch Insurance International and Dale Underwriting Partners. A summary of these new hires follows here. Arch Insurance Int’l Hires Chaucer’s Bauckham for Terrorism, Political Violence &...
Tue, 24 May 2022 14:54:53 +0000
Most business owners expect employees to be back working in person full time a year from now but employees want to retain flexibility with where and when they work. According to Nationwide’s most recent Agency Forward survey, about half of …
Tue, 24 May 2022 14:34:38 +0000
A teen in Mississippi shot and killed another teen who approached his home with a toy gun that looked like an assault rifle while wearing a ski mask, authorities said. The teen killed was one of thee people who approached …
Tue, 24 May 2022 14:19:50 +0000
Drought is expected to impact much of the Pacific Northwest this summer, including areas in eastern Washington, southern Oregon and southern Idaho, according to climatology and water officials. A recent map from the U.S. Drought Monitor shows that abou...
Tue, 24 May 2022 13:55:36 +0000
The program manager Accredited Insurance (Europe) Ltd., the wholly owned subsidiary of Randall & Quilter Investment Holdings Ltd., announced it has signed a six-year program management agreement with Policy Expert, a UK Insurtech providing home and mot...
Tue, 24 May 2022 13:04:28 +0000
NJM Insurance Group is now writing commercial package policies in New Jersey with policy effective dates beginning July 1, 2022. The NJM ProPack Commercial Package Policy protects mid-to-large-sized businesses against property and liability risks, incl...
Tue, 24 May 2022 12:48:58 +0000
Vermont Gov. Phil Scott has signed legislation into law that creates an advisory committee to make recommendations on how to spend the state’s share of settlement money with drug manufacturers and distribution companies over the toll of prescription op...
Tue, 24 May 2022 12:39:04 +0000
The Diocese of Rochester, New York, and its insurers have submitted a proposal to bankruptcy court to settle 471 sexual abuse claims against them for $147 million. The settlement includes $107,750,000 from insurers and $40,500,000 from the Catholic dio...
Tue, 24 May 2022 10:57:49 +0000
LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on Tuesday. In its first …
Tue, 24 May 2022 09:32:00 +0000
MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s re/insurer, announced a partnership with insurtech Altelium to offer a construction all-risk and operational all-risk insurance solution for battery energy storage systems (BESS), as part of its commitme...
Tue, 24 May 2022 09:05:41 +0000
A Roselle, Illinois contractor’s history of violating federal safety standards and ignoring safety citations and penalties – and a willingness to expose its workers to serious injuries or worse – continues, as federal inspectors found during their ...
Tue, 24 May 2022 09:00:29 +0000
Following its successful placement of green bonds in 2020 and 2021, Munich Re has successfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By issuing this bond in the globally …
Tue, 24 May 2022 08:30:35 +0000
The personal information of more than half a million Chicago Public Schools students and staff was compromised in a ransomware attack last December, but the vendor didn’t report it to the district until last month, officials said. The data breach …
Tue, 24 May 2022 08:00:51 +0000
Alliant Insurance Services Hires Hunter Johnson Alliant Insurance Services hired Hunter Johnson as vice president, growing its presence in the Midwest region. Based in Springfield, Missouri, Johnson will deploy his broad expertise in workers’ compensat...
Tue, 24 May 2022 08:00:18 +0000
Credit Agricole Italy is interested in investing in the insurance activities of Banco BPM, the French banking group’s Italy head said on Monday. Banco BPM has exercised a call option to gain full ownership of its insurance joint-venture with France’s …
Tue, 24 May 2022 07:46:03 +0000
Insurance broker WTW has launched specialist cyber coverage for ports and terminals, called CyNav. Designed to address the specific cyber threats faced by port and terminal owners and operators, CyNav provides both flexible and tailored cover for busin...
Tue, 24 May 2022 05:29:16 +0000
A report saying Tesla Inc CEO Elon Musk’s company SpaceX paid $250,000 to settle sexual harassment claims by a flight attendant on a private jet comes as he eyes a takeover of Twitter. Below is an overview of some of …
Tue, 24 May 2022 05:15:12 +0000
The District of Columbia said it sued Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg for his alleged role in the data breach that allowed political consulting firm Cambridge Analytica to target Facebook users during the 2016 presidential e...
Tue, 24 May 2022 05:01:50 +0000
A Florida Senate committee overwhelmingly approved two measures Monday that supporters believe will go a long way toward trimming roof claims, litigation expenses and reinsurance costs for beleagured property insurers – but not before some Democratic...