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Altman Specialty Plants, LLC, the largest horticultural grower in the United States, will pay $172,000 in monetary relief and furnish extensive injunctive relief to resolve a finding of sex discrimination and retaliation by the U.S. Equal Employment...
Posted: Jul 17, 2024
Enstar EU has promoted Nick Crossley to Chief Executive Officer (CEO), subject to regulatory and Board approvals. The executive will replace Paul Brockman, who has served as Interim CEO of Enstar EU since January 2024. However, it has been confirm...
Posted: Jul 17, 2024
Cayman Islands-based reinsurer Oxbridge Re’s Web3-focused subsidiary, SurancePlus Inc., has signed a partnership agreement with Zoniqx, a digital asset manager, designed to expand SurancePlus’ footprint as it aims to revolutionise the reinsu...
Posted: Jul 17, 2024
WALLACE, La. (AP) — Sisters Jo and Dr. Joy Banner live just miles from where their ancestors were enslaved more than 200 years ago in St. John the Baptist Parish, Louisiana. Their tidy Creole cottage cafe in the small riverfront …
Posted: Jul 17, 2024
Bain report finds insurers are wrestling with how to extract value from data and technology investments, but technology leadership can lead to significant business improvements. The post
Posted: Jul 17, 2024
Reckitt Benckiser Group Plc said sales will be affected by a tornado that struck a warehouse in Mount Vernon, Indiana, where it stores products and raw ingredients for its baby formula business. The consumer goods company said Wednesday that the R...
Posted: Jul 17, 2024
DES MOINES, Iowa (AP) — Record flooding and powerful tornadoes ravaged parts of Iowa for weeks this spring, destroying or damaging thousands of homes, closing roads and bridges and costing over $130 million in infrastructure damage, officials said Th...
Posted: Jul 17, 2024
DES MOINES, Iowa (AP) — Record flooding and powerful tornadoes ravaged parts of Iowa for weeks this spring, destroying or damaging thousands of homes, closing roads and bridges and costing over $130 million in infrastructure damage, officials said Th...
Posted: Jul 17, 2024
EPIC Insurance Brokers & Consultants has expanded its footprint in the Pacific Northwest region of the US with the acquisition of Oregon-based firm Century Insurance Group, LLC, a specialist in employee benefits and commercial and personal P&#...
Posted: Jul 17, 2024
Workers’ compensation claim rates and benefits paid in Minnesota continue to be stable or follow their long-term downward trajectories, a new Department of Labor and Industry (DLI) report shows. The 2024 Minnesota Workers’ Compensation Sy...
Posted: Jul 17, 2024
RALEIGH, N.C. (AP) — Aetna is poised to manage health coverage plan benefits for North Carolina state workers and teachers starting early next year because Blue Cross and Blue Shield of North Carolina said Monday it won’t appeal a judge’s...
Posted: Jul 17, 2024
BMW is recalling 1,145 vehicles in the United States over a potential issue that may cause the driver’s airbag to explode during deployment, the U.S. National Highway Traffic Safety Administration said on Wednesday. The recall includes the 2015...
Posted: Jul 17, 2024
The total of insurance agency mergers and acquisitions during the first six months of 2024 was the lowest over the first half since 2020, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A database counte...
Posted: Jul 17, 2024
AM Best reports that it has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings of members of A.I.M. Mutual Insurance Companies. The ratings agency has also affirmed the Financial Strength Rating of A (Excellent) and &...
Posted: Jul 17, 2024
CFC, an insurance provider specialising in emerging and cyber risks, has appointed Bryan Joseph and Oliver Corbett as Independent Non-Executive Directors to its Board. Louise O’Shea, Group Chief Executive Officer, CFC, commented, “Both Bryan...
Posted: Jul 17, 2024
Insurance Business Magazine - US
Posted: Jul 17, 2024
Insurance Business Magazine - US
Posted: Jul 17, 2024
Insurance Business Magazine - US
Posted: Jul 17, 2024
Fleming Files Lawsuit Against James River, Alleging Fraud During JR...
Posted: Jul 17, 2024
Homeowners insurance costs in the US have been on the rise since COVID, largely due to increased losses from natural catastrophes and persistent inflation, according to the Insurance Information Institute (Triple-I). Despite more frequent and inte...
Posted: Jul 17, 2024
Jillian Anderson was planning to make fighting crime in Waikiki the top issue in her campaign for a seat in the Hawaii House of Representatives. Then came the letter from her condo association announcing a 300% increase in insurance premiums, …
Posted: Jul 17, 2024
HORSESHOE BEACH, Fla. (AP) — Before Hurricane Idalia smashed into a small fishing village in northwestern Florida, Charles Long, 68, was fixing up a two-bedroom house for him and his wife. After the August storm, he found remnants of it …
Posted: Jul 17, 2024
Two near-identical oil tankers trying to beat western sanctions. A secret transfer of Russian crude halfway between Iran and Oman. A supertanker giving a false location. Welcome to the modern trade in Russian petroleum as western sanctions get toughe...
Posted: Jul 17, 2024
A U.S. judge rejected Build-A-Bear Workshop’s effort to dismiss a lawsuit claiming that its Skoosherz plush toys were unauthorized knockoffs of Squishmallows, the popular plush toys made by a unit of Warren Buffett’s Berkshire Hathaway. I...
Posted: Jul 17, 2024
A recent poll from Reinsurance News suggests that AI-powered threats will drive the biggest losses across the cyber re/insurance market over the next two years. Hundreds of people from across the insurance and reinsurance industry responded to the...
Posted: Jul 17, 2024
A New Jersey man has admitted to orchestrating a multistate car theft and fraud ring that involved tracking drivers, programming keys, stealing their cars, and reselling their vehicles. U.S. Attorney Philip R. Sellinger said that Warren Guerrier plea...
Posted: Jul 17, 2024
A New Jersey man has admitted to orchestrating a multistate car theft and fraud ring that involved tracking drivers, programming keys, stealing their cars, and reselling their vehicles. U.S. Attorney Philip R. Sellinger said that Warren Guerrier plea...
Posted: Jul 17, 2024
The Texel Group, a specialist credit and political risk insurance broker, has announced a number of senior appointments, including William Shaw’s promotion to Deputy CEO. Based in London, Shaw was promoted to his new role from his Managing Directo...
Posted: Jul 17, 2024
S&P has awarded Vienna Insurance Group (VIG) an excellent “A+” rating with a stable outlook. This places VIG among the top-rated companies in the Austrian Traded Index. The Group’s reinsurance company, VIG Re, based in Prague, also...
Posted: Jul 17, 2024
DUAL Europe has announced the appointment of Michael Wyss as Managing Director of DUAL Swiss, bolstering the company’s leadership team as the business positions itself to grow its market share in Switzerland. DUAL Swiss’s primary lines of business...
Posted: Jul 17, 2024
Independent insurance agency Deland, Gibson Insurance Associates in Wellesley, Massachusetts announced it recently acquired Atchue Insurance Agency, which is located about 35 miles away in Worcester. Founded by Earl V. Atchue, Jr. in 1982, Atchue Ins...
Posted: Jul 17, 2024
International and Israeli investors have agreed to acquire up to 21.5% of Phoenix Group Holdings, an Israeli financial group, from investment firms Centerbridge Partners and Gallatin Point. The investment involves the sale of 4.95% of Phoenix shar...
Posted: Jul 17, 2024
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal agreement was signed in November 2023, Fleming said, “...
Posted: Jul 17, 2024
This Gallagher property practice leader details the trends affecting commercial property insurance. The post Gallagher’s Martha Ba...
Posted: Jul 17, 2024
Allianz Group, a global insurer and asset manager, through its wholly owned subsidiary Allianz Europe B.V., has offered Singapore-domiciled insurer Income Insurance a pre-conditional voluntary cash general offer to acquire at least 51% of its shar...
Posted: Jul 17, 2024
Global insurance broker WTW has announced a series of major hires for its international casualty team, based in the firm’s London office, part of the direct and facultative global line of business. Firstly, the company has appointed industry...
Posted: Jul 17, 2024
The transition to renewable energy is well underway, and insurers are working to help the sector overcome its growing pains. The post Green Liabilit...
Posted: Jul 17, 2024
Assurant has revealed that it expects its Global Housing segment to record approximately $46 million pre-tax, or $36 million after-tax, of reportable catastrophes for Q2 of 2024. As per the firm, no single event is anticipated to exceed $15 millio...
Posted: Jul 17, 2024
WTW, an advisory, broking, and solutions firm, has appointed Aartie Manansingh as Head of the Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Jorgen Andersson and Peter Galla will...
Posted: Jul 17, 2024
Air Canada may be forced to pay at least C$100 million ($73.2 million) to about 2,200 former workers after a Quebec court issued a ruling in their class-action lawsuit against the airline. The amount would cover lost wages, lost benefits, …
Posted: Jul 17, 2024
US primary insurer Progressive has reversed the previously announced reinsurance recoverable of $95 million under its per occurrence reinsurance contracts, as the firm “remains close” to reaching the annual retention thresholds under i...
Posted: Jul 17, 2024
Climate groups called a decision to open the UK’s first deep coal mine in more than three decades unlawful, claiming that approval was granted without taking into account all the harmful emissions that it would produce. Lawyers for Friends of &...
Posted: Jul 17, 2024
Allianz has made an offer to acquire at least 51% of Singapore’s Income Insurance Ltd. in a transaction valued at about S$2.2 billion ($1.6 billion). The planned acquisition will significantly strengthen Allianz’s presence in Singapore, E...
Posted: Jul 17, 2024
Allianz SE agreed to buy a majority stake in Singapore’s Income Insurance Ltd. for about S$2.2 billion ($1.6 billion) to strengthen its presence in Asia. The German company plans to acquire at least 51% of Income Insurance for S$40.58 a …
Posted: Jul 17, 2024
Cytora, a digital risk processing platform, has partnered with Gamma Risk, a global provider of location intelligence systems and services, to help insurers map out commercial property risk assessment. Aiming to provide insurers with enhanced tool...
Posted: Jul 17, 2024