Insurance Journal

People Moves: Lawley Adds Scaffidi and Moran, Promotes Belizaire

Lawley, headquartered in Buffalo, New York, named Phil Scaffidi as employee benefits consultant in Buffalo, Joe Moran as an insurance advisor in Florham Park, New Jersey, and Carl Belizaire as insurance advisor in Buffalo. Before Lawley, Scaffidi ser...

Posted: Aug 21, 2024

Streamline Your Continuing Education Process with Risk & Insurance Education Alliance’s Comprehensiv...

Austin, TX., August 21, 2024—The Risk & Insurance Education Alliance, a leader in risk management and insurance education, announces the expansion of its Continuing Education (CE) services to the public. Designed to streamline and manage the back...

Posted: Aug 20, 2024

Flood-Stricken Connecticut Seeks Emergency Assistance from Federal Agencies

Connecticut Governor Ned Lamont has submitted a request to President Joe Biden and the Federal Emergency Management Agency (FEMA) for a federal emergency declaration for Fairfield , New Haven, and Litchfield counties in response to the extreme floodi...

Posted: Aug 20, 2024

Specialist Risk Group Acquires UK-Based Anthony James Insurance Brokers

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of Anthony James Insurance Brokers, subject to regulatory approval. Financial details of the transaction were not disclosed. This latest acquisition furth...

Posted: Aug 20, 2024

Markets/Coverages: Marsh Launches $50 Million Port Blockage Insurance Facility

Marsh, the insurance broker and Marsh McLennan subsidiary, announced the launch of a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world. Created by Marsh following the collapse of th...

Posted: Aug 20, 2024

Beryl-Battered Grenada Becomes 1st Country to Use Government Bond Hurricane Clause

Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster. The move …

Posted: Aug 20, 2024

Supreme Court Keeps New Rules on Sex Discrimination in Education on Hold

The Supreme Court on Friday kept on hold in roughly half the country new regulations about sex discrimination in education, rejecting a Biden administration request. The court voted 5-4, with conservative Justice Neil Gorsuch joining the three libera...

Posted: Aug 20, 2024

Ryan Specialty to Acquire Assets of MGU Greenhill From Alera

Ryan Specialty said it has signed a definitive agreement to acquire certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc. Terms of the deal were not disclosed. Houston-based Greenhill is a technology-enabled managing gene...

Posted: Aug 20, 2024

Cops Vow to Avert Risk of Havoc From DNC Protesters Converging in Chicago

Security is always tight at Chicago’s Accenture Tower, a skyscraper that connects to a downtown transportation hub and houses the Israeli consulate. This week it will resemble a fortress. Located less than two miles (3.2 kilometers) from where...

Posted: Aug 20, 2024

USAA President, CEO Peacock Retiring in 2025

USAA announced that its chief executive officer and president, Wayne Peacock will retire during the first half of 2025, after 36 years at the company—serving the last five as CEO. In a letter Peacock sent to USAA teammates yesterday, the …

Posted: Aug 20, 2024

Upstate Jury Says Harley-Davidson Must Pay $287 Million for Fatal ‘Trike’ Accident

An upstate New York jury has awarded more than $287 million in punitive damages and other compensation to a man and the estate of his deceased girlfriend following a fatal accident involving their Harley-Davidson “trike” motorcycle. The L...

Posted: Aug 20, 2024

One Killed After Natural Gas Pipeline Explodes In Louisiana

The US Coast Guard is investigating a fatal blast at a natural gas pipeline in Louisiana. A contractor working on a pipeline near South Pass, Louisiana, went missing after an explosion and fire late Saturday, Coast Guard spokesman Ryan Schultz &#8230...

Posted: Aug 20, 2024

The Next Challenge for the US Charging Network: Congestion

In Fernley, Nevada, east of Reno, there are 16 cords that rapidly charge electric vehicles — not bad for a city of just 24,000 people. This weekend, that ratio will be upended. Roughly 30,000 vehicles are expected to roll through …

Posted: Aug 20, 2024

CIAB: Clear Evidence of Softening Commercial P/C Market Conditions in Q2

Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of Insurance Agents & Brokers (CIAB...

Posted: Aug 20, 2024

Kansas to Pay $50K Settlement Over a Transgender Highway Patrol Employee’s Firing

TOPEKA, Kan. (AP) — Kansas will pay $50,000 to settle a federal anti-discrimination lawsuit filed by a former state Highway Patrol employee who claimed to have been fired for coming out as transgender. Democratic Gov. Laura Kelly and eight leaders &#...

Posted: Aug 20, 2024

Texas Grid Faces Biggest Test of Summer With Extreme Heat

Texas is facing its biggest test of the summer this week to keep the power on — and air conditioners running — as temperatures hit triple digits and push electricity consumption to all-time highs. Power use on the state grid …

Posted: Aug 20, 2024

Racer Scott Bloomquist Remembered After Plane Crash in Tennessee

Scott Bloomquist, a dirt track race car driver who was known for his bravado and for being one of the sport’s best, died Friday in a plane crash on his family’s farm in Mooresburg, Tennessee, friends and local officials said. …

Posted: Aug 20, 2024

Trump Pitches $3 Billion in Condos at Miami-Area Golf Course

Donald Trump wants to sell more high-end condos in the US, this time using a famously difficult Florida golf course as a draw. The former president’s family business is seeking to build residences and retail inside the Trump National Doral &#82...

Posted: Aug 20, 2024

Update: Taiwan’s CTBC Financial Plans to Buy Rival Shin Kong

Taiwan’s CTBC Financial Holding Co. said it plans to buy smaller rival Shin Kong Financial Holding Co., a move that could form the island’s largest financial conglomerate. Amid speculation swirling of a takeover, the Taipei-based firm ann...

Posted: Aug 20, 2024

Storms Threaten Mediterranean From Sicily to Ionian Sea Islands

Thunderstorms are forecast across the Mediterranean from Corfu to Sicily, where a luxury yacht sank off the coast on Monday after being struck by a waterspout, a form of tornado. Orange storms alerts are in place for a swath of …

Posted: Aug 20, 2024

Medicare Prescription Drug Costs: Strategies for Managing Expenses

This post is part of a series sponsored by PCF Insurance Services. PCF Senior Benefits Practice Leader, Jason Milz, shares how partnering with a licensed insurance agent helps you effectively manage and reduce your prescription drug costs for 2024. F...

Posted: Aug 20, 2024

The U.S. Property & Casualty Crisis: How It’s Going for Insurers and the States They’ve Left

This post is part of a series sponsored by AgentSync. America’s home insurance crisis By now, if you haven’t heard about insurance companies (large and small) and their max exodus from the most risky states, you may have been living &#823...

Posted: Aug 20, 2024

Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks

Morgan Stanley International chairman Jonathan Bloomer is among those confirmed missing by Italian authorities along with British tech entrepreneur Mike Lynch after the luxury yacht they were on board sank off the coast of Sicily early Monday. The he...

Posted: Aug 20, 2024

Update: Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks

Morgan Stanley International chairman Jonathan Bloomer is among those missing, along with UK tech entrepreneur Mike Lynch, as Italian authorities continue to search the wreckage of the luxury yacht that sank during a storm off the coast of Sicily. Sp...

Posted: Aug 20, 2024

The Era of Runaway Heat Records Is Here

Las Vegas set a heat record of 117 degrees Fahrenheit (47.2C) in 1942, and for 82 years no weather system could budge it. Thermometers registered the same temperature four more times, all since 2005, without setting a new high. Then …

Posted: Aug 20, 2024