Insurance Journal
American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. Commencing underwriting from Jan. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The...
Posted: Dec 13, 2024
Cincinnati Financial Corporation, headquartered in Cincinnati, promoted several leaders in its commercial/life operations and personal/specialty operations effective January 1. Sean M. Givler, senior vice president, commercial lines, will lead the co...
Posted: Dec 13, 2024
Ryan Specialty, Chicago-based specialty insurance services firm, announced that Paradiso Risks is joining Alive Risk, Ryan Specialty’s sports, leisure and entertainment managing general underwriter. London-based Paradiso became part of Ryan aft...
Posted: Dec 13, 2024
New York State declared a state of emergency for portions of Western New York, Finger Lakes, Central New York and North Country regions as forecasts call for those areas to receive multiple feet of lake effect snow. Areas east of …
Posted: Dec 13, 2024
Eight people and two law firms have been charged in what authorities say was more than a decade-long scheme of staging vehicle crashes in the New Orleans area and then submitting fraudulent insurance claims, leading to what prosecutors allege was ...
Posted: Dec 13, 2024
McKinsey & Co has agreed to pay $650 million to resolve a U.S. Department of Justice investigation into the consulting firm’s work advising opioid manufacturer OxyContin maker Purdue Pharma on how to boost sales. McKinsey has entered into a...
Posted: Dec 13, 2024
Hub International Limited announced that it has acquired the assets of Hadfield Agency, Inc. (Hadfield Agency). Terms of the transaction were not disclosed. Headquartered in Little Rock, Arkansas, Hadfield Agency is an independent, multi-line insuran...
Posted: Dec 13, 2024
While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record under...
Posted: Dec 13, 2024
A bill making its way through the Ohio General Assembly would prohibit requiring firearm liability insurance. Senate Bill 58 passed the House by a 61-27 vote and now heads to the Ohio Senate, where legislators in the chamber will have …
Posted: Dec 13, 2024
Firefighters are getting a better handle on a California wildfire that was threatening the city of Malibu as the winds that fanned the flames begin to subside. The Franklin Fire is now 30% contained and has burned 4,037 acres, according …
Posted: Dec 13, 2024
The National Rifle Association (NRA) must reform its operations to conform with New York’s not-for-profit law and two of its former executives must pay the NRA $6.35 million in damages plus interest. That is the outcome of the latest battle ...
Posted: Dec 13, 2024
Players Health, a provider of athlete safety and sports insurance solutions, has announced the closing of its $60 million Series C funding round. The round was led by Bluestone Equity Partners, an institutionally backed global private equity firm foc...
Posted: Dec 13, 2024
Arthur J. Gallagher, the global insurance brokerage, announced it has acquired Georgia-based Sheila J. Butler & Co., an employee benefits firm. Butler and team will remain in their office locale in Carrollton, Georgia, under the direction of Colb...
Posted: Dec 13, 2024
Texas Attorney General Ken Paxton has filed a notice of violation against Allstate-owned Arity, a mobile data company that collects drivers’ information, for breaching the Texas Data Privacy and Security Act (TDPSA). The Nov. 29 notice alleges...
Posted: Dec 13, 2024
Seven people in South Carolina pleaded guilty this week to a scheme to defraud Aflac Insurance and other insurers out of more than $70,000 by making false claims with forged documents. But they won’t be going to prison. The South …
Posted: Dec 13, 2024
A Lakeland, Florida, woman was charged this week with threatening mass violence after she reportedly told her health insurance company: “Delay, deny, depose. You people are next” – echoing words allegedly used by the shooter of the United...
Posted: Dec 13, 2024
A Lakeland, Florida, woman was charged this week with threatening mass violence after she reportedly told her health insurance company: “Delay, deny, depose. You people are next” – echoing words allegedly used by the shooter of the United...
Posted: Dec 13, 2024
The U.S. Department of Labor reported it has obtained a consent judgment against a home healthcare agency and its owner, Teajan Kamara, who had deliberately failed to pay employees their legally earned overtime wages. Following a filing by the depart...
Posted: Dec 13, 2024
Swiss Re is targeting a net income of more than US$4.4 billion for 2025 and aims to grow the ordinary dividend per share by 7% or more per year over the next three years while maintaining its multi-year IFRS ROE …
Posted: Dec 13, 2024
An Aviva business model that Indian tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows. Tax …
Posted: Dec 13, 2024
Ukraine identified 238 tankers it said belong to a shadow fleet of ships that Russia is using to keep its oil and fuels moving around the world — with a view to western authorities sanctioning the carriers. The Military Intelligence …
Posted: Dec 13, 2024
Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects attractive underwriting profitability with a combined r...
Posted: Dec 13, 2024
Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects good underwriting profitability with a combined ratio o...
Posted: Dec 13, 2024
COLUMBUS, Ohio (AP) — The Ohio Supreme Court ruled last Tuesday that the state’s product liability law prohibits counties from bringing public nuisance claims against national pharmaceutical chains as they did as part of national opioid litigat...
Posted: Dec 13, 2024
Starbucks Corp.’s system for logging employee hours is back online nearly three weeks after a vendor hack had forced the company to keep track of schedules by hand. Starbucks worked with third-party software supplier Blue Yonder Group, which wa...
Posted: Dec 13, 2024