Insurance Journal
Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report by a shareholder advocacy g...
Posted: Jul 10, 2024
Insurance broker TWFG, backed by reinsurer RenaissanceRe, said on Tuesday it is aiming to raise as much as $176 million in its initial public offering in the United States. TWFG is offering 11 million shares at a price range of …
Posted: Jul 10, 2024
Leading carriers and managing general agents (MGAs) are increasingly seeking to assess their premium income via audits to ensure exposures are reported accurately, while tackling potential premium leakage and addressing possible non-compliance with s...
Posted: Jul 10, 2024
Marsh McLennan Agency said it has a definite agreement to buy Illinois-based brokerage The Horton Group, Inc. Terms were not disclosed. The deal is expected to close during the third quarter 2024. “We have been impressed by the Horton team R...
Posted: Jul 10, 2024
Hurricane Beryl got the respected team of researchers at Colorado State University to rethink its forecast for the Atlantic hurricane season, which has already seen three named storms. CSU’s Department of Atmospheric Science now calls for an &#...
Posted: Jul 10, 2024
Federal prosecutors want former Georgia Insurance Commissioner John Oxendine to serve 44 months in prison and pay $700,000 in restitution after his guilty plea to health care fraud conspiracy. But Oxendine is urging the judge to reduce the penalty. &...
Posted: Jul 10, 2024
At the same time it is settling a New York class action about underpaying totaled loss claims for $48 million, Progressive Insurance, in a separate case, has agreed to an $18.3 million settlement over allegations that its carriers failed to …
Posted: Jul 10, 2024
Due to a shock hazard, a California company is recalling nearly 1 million power adapters sold with sound machines marketed to help infants and young children sleep. The plastic surrounding the AC power adapter that was supplied with some of …
Posted: Jul 10, 2024
This post is part of a series sponsored by PCF Insurance Services. The frequency and impact of cyberattacks are escalating at an alarming rate in today’s modern world. According to Cybersecurity Ventures, a business falls victim to a ransomware...
Posted: Jul 09, 2024
Houston is struggling through Hurricane Beryl’s chaotic aftermath, with blackouts, blocked roads, internet disruptions and spotty access to gas expected to linger well after the storm’s floodwaters recede. More than 1 million homes and bu...
Posted: Jul 09, 2024
A Southern California wildfire that grew to be the biggest of the year is now at nearly 27,000 acres. The Lake Fire in Santa Barbara County erupted on Friday northeast of Los Olivos. An evacuation order was issued for an …
Posted: Jul 09, 2024
Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox released a new bulletin explicitly prohibiting insurers from discounting labor costs for depreciation when paying a homeowners insurance claim unless the insured has ag...
Posted: Jul 09, 2024
A 16-story apartment building in Ohio may reopen early next month, several weeks after it was temporarily shuttered following a deadly natural gas explosion that severely damaged a neighboring building. Youngstown officials had ordered the evacuation...
Posted: Jul 09, 2024
OKLAHOMA CITY (AP) — Attorneys for the last two remaining survivors of the 1921 Tulsa Race Massacre asked the Oklahoma Supreme Court last week to reconsider the case they dismissed last month and called on the Biden administration to help …
Posted: Jul 09, 2024
Houston is set for a dangerous bout of heat as more than 2 million homes and businesses remain without power in the area around the nation’s fourth-largest city after Hurricane Beryl’s battering. The region is under a heat advisory, with...
Posted: Jul 09, 2024
Chubb today said it has made several executive leadership changes in its North American general insurance business, with John Lupica becoming executive chairman. Lupica was vice chairman of Chubb Group and president of North American insurance. In hi...
Posted: Jul 09, 2024
This post is part of a series sponsored by PCF Insurance Services. The transportation industry is filled with risks. Unexpected events can lead to costly legal outcomes called “nuclear verdicts.” These are lawsuit damages that often excee...
Posted: Jul 09, 2024
Greek authorities evacuated a hospital after a wildfire broke out in Patra, the country’s third-biggest city. Firefighters, assisted by planes and helicopters, safely evacuated a hospital and a nursing home, state-run ERT TV reported. The fire...
Posted: Jul 09, 2024
High Named EVP of Evaluation Services; Marentette VP of Payer Services Independent insurance broker The IMA Group, headquartered in Tarrytown, New York, named Matt High as executive vice president of evaluation services operations and Elijah Marentet...
Posted: Jul 09, 2024
Less people died in traffic accidents during the first three months of 2024, compared to the same time the prior year. The quarter looks to be the eighth in a row for a decline in traffic fatalities, dating back to …
Posted: Jul 09, 2024
This edition of International People Moves details appointments at SiriusPoint and Everest Insurance. A summary of these new hires follows here. SiriusPoint International Managing Agency Names Castel’s Williams as Chief Risk Officer SiriusPoint...
Posted: Jul 09, 2024
Private self-insured claim volume in the California workers’ compensation system fell 9.5% in 2023, the biggest year-to-year decline in private self-insured claim frequency in more than 15 years. However, double-digit increases in the average a...
Posted: Jul 09, 2024
Two years after the U.S. Forest Service sparked what would become the largest and most destructive wildfire in New Mexico’s recorded history, independent investigators say there are gaps that need to be addressed if the agency is to be successf...
Posted: Jul 09, 2024
CRC Group, a wholesale specialty distributor with operations across North America, announced new additions to its Tampa team. Craig Anderson, who has been in the insurance business for more than 25 years, is now an underwriting team leader for marine...
Posted: Jul 09, 2024
WTW, the advisory, broking, and solutions company, has introduced “IMI Plus,” an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private...
Posted: Jul 09, 2024