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Oriental Insurance launches new coverage with Chubb

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Oriental Insurance is a subsidiary of OFG Bancorp.

Posted: Jul 02, 2024

Do Tow Truck Drivers Expect Tips?

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Although there is no standard tip amount for towing, 10% to 15% is a general tipping rule that can apply to towing services.

Posted: Jul 02, 2024

Increases in Comp, Auto Injury Medical Costs Continue: Report

Carrier Management

Increases in Comp, Auto Injury Medical Costs Continue: Report Medical costs have risen 11 percent in workers'...

Posted: Jul 02, 2024

California Bill Targets Farmworker Heat Illness Claims

Risk & Insurance

A new CWCI study suggests the new legislation may create administrative challenges without significantly improving agricultural worker safety. The post

Posted: Jul 02, 2024

Marshall Elected Chair of Virginia Workers’ Compensation Commission

Insurance Journal

Wesley G. Marshall has been elected to a three-year term as chairman of the Virginia Workers’ Compensation Commission (VWC), effective July 1, 2024. He succeeds Commissioner Robert A. Rapaport, whose term ended June 30, 2024. Marshall, of Richm...

Posted: Jul 02, 2024

Robots, Drones and Driverless Tractors Usher In New Age of Farming

Insurance Journal

Tractors plow the farm fields without drivers, guided by satellites and iPhones. Solar-powered robots tend to plants on the ground like giant outdoor Roombas, while drones fly overhead spraying the crops. It may sound like science fiction — perhaps U...

Posted: Jul 02, 2024

People Moves: IMA Financial Names Arons Rosen as Dallas Market President

Insurance Journal

IMA Financial Group, an independent insurance brokerage and risk management consulting firm, announced that Jordyn Arons Rosen will be its new Dallas Market President, effective July 1, 2024. Arons Rosen will succeed insurance industry veteran Robert...

Posted: Jul 02, 2024

Patrick Watkins Receives Drex Foreman Award by IIAT

Insurance Journal

Watkins Insurance Group announced that Patrick Watkins has been awarded the distinguished Drex Foreman Award by the Independent Insurance Agents of Texas (IIAT). This prestigious accolade recognizes exemplary leadership and significant contributions...

Posted: Jul 02, 2024

Coverys Launches London Market Insurer, Approved to Write US E&S Business

Insurance Journal

Coverys Ltd., a UK entity in the Coverys Group of Companies, has received regulatory authority to launch a London company market insurer, effective June 26. Coverys Ltd. is part of Coverys’ dedicated London platforms which include both insuranc...

Posted: Jul 02, 2024

Lawsuit Claims Omaha Housing Authority Violated Tenants’ Rights

Insurance Journal

A federal class-action lawsuit alleges the Omaha Housing Authority continuously violated the legal rights of low-income tenants over the last seven years. Current and former tenants suing OHA claim the public housing provider illegally overcharged th...

Posted: Jul 02, 2024

Texas Governor Wants to Double Gas-Plant Fund to $10 Billion

Insurance Journal

Texas Governor Greg Abbott wants to double a newly created loan program for building gas-fired power plants to $10 billion in order to meet the state’s growing demand for electricity. Voters last year approved the Texas Energy Fund, offering $5...

Posted: Jul 02, 2024

Michigan Court Revives Lawsuit Over Woman Found Alive in a Body Bag

Insurance Journal

DETROIT (AP) — A Michigan appeals court revived a lawsuit against Detroit-area paramedics after a woman who had been declared dead gasped for air with her eyes open when a body bag was unzipped at a funeral home. A judge …

Posted: Jul 02, 2024

US P/C industry saw $22bn underwriting loss in 2023: AM Best

Reinsurance News

AM Best reports that the US Property/Casualty (P/C) insurance industry faced another year of underwriting losses surpassing $20 billion in 2023, at $21.7 billion, largely driven by unprofitable private passenger auto and homeowners/farm owners mar...

Posted: Jul 02, 2024

8 Ways AgentSync Can Elevate Your Salesforce Experience

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Salesforce users can level up their tech when they incorporate modern compliance into their infrastructure.

Posted: Jul 02, 2024

Lemonade renews reinsurance program

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The new program is in effect for a standard 12-month term.

Posted: Jul 02, 2024

Paul Davies to retire as vice chair of Aon

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Davies took on the vice chair role in 2023.

Posted: Jul 02, 2024

Five Ways Appian Drives Insurance Modernization

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Discover how process automation platforms can help you modernize systems and optimize your operations.

Posted: Jul 02, 2024

Aquiline Capital acquires majority stake in Isio Group

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The transaction is subject to standard regulatory approvals.

Posted: Jul 02, 2024

APCO Holdings acquires Rider’s Advantage

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APCO has also acquired Capital Administrative Professionals, an F&I administrator.

Posted: Jul 02, 2024

Lee Equity Partners closes Fund IV

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Fund IV continues the firm's nearly two-decade history of investing in and partnering with middle market, growth-oriented companies.

Posted: Jul 02, 2024

SiriusPoint and Tara Hill announce new E&S portfolio partnership

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Tara Hill was established to develop an E&S portfolio.

Posted: Jul 02, 2024

Proposed OSHA Rule Would Protect Workers From Extreme Heat

Carrier Management

Proposed OSHA Rule Would Protect Workers From Extreme Heat The Biden administration...

Posted: Jul 02, 2024

Cat 5 Hurricane Beryl Expected to Hit Jamaica Tomorrow

Carrier Management

Cat 5 Hurricane Beryl Expected to Hit Jamaica Tomorrow After devastating the island of...

Posted: Jul 02, 2024

AM Best: US P/C Industry Suffered Second-Straight Year of $20B+ Underwriting Losses in 2023

Carrier Management

AM Best: US P/C Industry Suffered Second-Straight Year of $20B+ Underwr...

Posted: Jul 02, 2024

Fleming welcomes Michael Garceau as CFO and COO

Reinsurance News

Fleming Insurance Holdings, a P&C insurance capital solutions provider, has appointed Michael Garceau as Chief Financial Officer (CFO) and Chief Operating Officer (COO), a pivotal addition to its executive leadership team as the company expand...

Posted: Jul 02, 2024

Ryan Specialty Shuffling Continues; McCormack Named CEO of RT Specialty

Insurance Journal

A day after Ryan Specialty Holdings announced a handful of executive moves following the retirement of founder Patrick G. Ryan, the company continued to promote from within by naming Edward F. McCormack chief executive officer of RT Specialty. McCorm...

Posted: Jul 02, 2024

SiriusPoint and Tara Hill form strategic E&S portfolio partnership

Reinsurance News

SiriusPoint, a global specialty re/insurer, and Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) program administrator, have formed a strategic partnership. As part of the Cirrata Group, Tara Hill was established to deve...

Posted: Jul 02, 2024

North Carolina, Florida Home Sellers Facing New Flood Disclosure Requirements

Insurance Journal

As of this week, home sellers in North Carolina must now disclose previous flood damage to properties. And come Oct. 1, Floridians must make similar disclosures, potentially boosting the demand for flood insurance. The North Carolina Real Estate Comm...

Posted: Jul 02, 2024

Innovisk Capital Partners appoints Praveen Reddy as Global President and COO

Reinsurance News

Innovisk Capital Partners (Innovisk), a private equity-backed MGA platform, has recently appointed Praveen Reddy as its new Global President and Chief Operating Officer (COO). Founded in 2017, Innovisk is dedicated to investing in and growing entr...

Posted: Jul 02, 2024

Supreme Court Rejects Challenge to Workplace Safety Agency

Insurance Journal

The U.S. Supreme Court declined on Tuesday to hear a challenge by an Ohio company to the power of the federal workplace safety regulator as the justices avoided another legal effort to pare back the authority of federal agencies. The …

Posted: Jul 02, 2024

Howden Re and Keenan complete LPT for a large California workers’ compensation JPA

Reinsurance News

Reinsurance broker Howden Re and Keenan have completed a strategic Loss Portfolio Transfer (LPT) between one of the largest California workers’ compensation joint powers authorities (the JPA) and a top-ten global reinsurer. Howden Re was responsib...

Posted: Jul 02, 2024

Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida

Carrier Management

Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida Disney workers are suing their employ...

Posted: Jul 02, 2024

Delaware Law to Allow Big Investors Greater Sway Over US Corporate Boards

Insurance Journal

Delaware is poised to adopt changes to its widely used corporate law that critics argue could weaken U.S. boards of directors in favor of influential investors such as private-equity firms. State lawmakers last week approved a bill that gives a &#823...

Posted: Jul 02, 2024

Blue Owl completes acquisition of Kuvare Asset Management

Reinsurance News

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million a...

Posted: Jul 02, 2024