Insurance Journal
Pacific Power, part of PacifiCorp, said Monday it has agreed to a $178 million settlement with over 400 Oregon plaintiffs in the latest multimillion-dollar payout related to the deadly 2020 wildfires that ravaged the state. In other cases that have &...
Posted: Jun 06, 2024
Council Capital, a healthcare-focused private equity firm, has acquired Allegiant Managed Care, a nurse case management company providing services within workers’ compensation and other property/casualty insurance lines. Terms of the transactio...
Posted: Jun 06, 2024
A state prisoner on a work-release program was killed in a fuel tank explosion while he was working as a welder for an employer in Rockport, the Maine Department of Corrections said last Saturday. Sean Rancourt was welding the diesel …
Posted: Jun 06, 2024
The Nitsche Group has announced the relocation of its Round Rock office. The office, previously at 893 North IH 35, Suite 120, Round Rock, is now located at 551 S. I-35 Frontage RD., Suite 320, Round Rock, TX, 78664, just …
Posted: Jun 05, 2024
Kansas Insurance Commissioner Vicki Schmidt announced that a Kansas man has been sentenced to six months of probation for insurance fraud. Robert Heidbreder, age 30, pleaded guilty in the District Court of Sedgwick County to one misdemeanor count of...
Posted: Jun 05, 2024
Louisiana could soon bar banks that “discriminate” against firearm entities from working on government contracts, after lawmakers advanced legislation that’s similar to a Texas statute that has whipsawed Wall Street firms’ pub...
Posted: Jun 05, 2024
AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Farm Bureau Mutual Insurance Company of Arkansas, Inc. Concurrently, A...
Posted: Jun 05, 2024
Hilb Group announced and closed the sale of the assets of the wholly-owned subsidiary German American Insurance (GAI) to Hilb Group in an all-cash transaction of $40 million. The sale creates a significant after-tax gain, net of transaction costs, of...
Posted: Jun 05, 2024
Dozens more former youth inmates filed lawsuits seeking millions of dollars in damages for sexual abuse they allegedly endured at Illinois detention centers dating back to the late 1990s. Thirteen women and 95 men filed two separate lawsuits Friday i...
Posted: Jun 05, 2024
Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into areas other than pricing, WTW...
Posted: Jun 05, 2024
London judges ruled a class action lawsuit to proceed against Google potentially seeking billions of pounds in damages over allegations it abused its dominance in digital advertising. The UK’s Competition Appeal Tribunal unanimously allowed the...
Posted: Jun 05, 2024
A group founded by former Trump administration officials has accused Tyson Foods of discriminating against U.S. citizens by disproportionately hiring immigrants, including children and people in the country illegally. America First Legal (AFL) sent l...
Posted: Jun 05, 2024
Hub International Ltd. acquired the assets of Combined Benefits Inc., Combined Commercial Insurance Services LLC., and Combined Employer Services Inc. Donny Woo, CEO, and Jonathan Zhao, vice president of payroll, and the Combined HCM team will join H...
Posted: Jun 05, 2024
Sompo announced the launch of a new technology insurance product for middle market clients in the United Kingdom. The package includes coverages comprising property, casualty, professional indemnity (PI) and cyber. Excess PI and cyber can be provided...
Posted: Jun 05, 2024
TOPSHAM, Maine (AP) — A lobster-themed monster truck performing for spectators in Maine clipped an aerial power line, toppling several utility poles and sending two people to hospitals, police said. Others suffered minor injuries. The Topsham Fairgro...
Posted: Jun 05, 2024
Alta Signa Europe B.V., the European boutique managing general agent (MGA) and Lloyd’s coverholder, announced the opening of an office in Switzerland, marking a significant milestone in the company’s expansion strategy in the Germany, Aus...
Posted: Jun 05, 2024
Independence Pet Holdings has acquired a majority interest in Spot Pet Insurance, an expansion of IPH’s 2022 investment in the Miami-headquartered insurer. Independence, founded in 2021 and helmed by CEO Lane Kent, already handles Spot’s...
Posted: Jun 05, 2024
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced that its specialist underwriting subsidiary Pen Underwriting has acquired Ireland’s Wrightway Underwriting Ltd. Terms of the transaction were not disclosed. Ba...
Posted: Jun 05, 2024
Greenhouse gases produced by human activity made the recent deadly flooding in Brazil twice as likely as it would have been in the preindustrial era, according to a rapid analysis of the event by World Weather Attribution (WWA), an international R...
Posted: Jun 05, 2024
Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country’s shipping minister told Reuters on Tuesday. Up to 85...
Posted: Jun 05, 2024
Services at several London hospitals were disrupted after a provider that helps manage blood transfusions and lab services was hit by a ransomware attack. Lab services provider Synnovis confirmed the attack in a statement on Tuesday and said it was &...
Posted: Jun 05, 2024
Marsh McLennan Agency said it completed its purchase of Fisher Brown Bottrell Insurance, Inc. from Trustmark National Bank for about $316 million. The subsidiary of Marsh said all Jackson, Mississippi-based Fisher Brown Bottrell employees will join M...
Posted: Jun 05, 2024
Whether a flight attendant was fired for her religious beliefs or for improper conduct when she sent graphic anti-abortion material and disparaging messages to a union leader was at the heart of appeals court arguments Monday, as Southwest Airlines a...
Posted: Jun 05, 2024
ATLANTA (AP) — For at least some residents, Atlanta’s water problems weren’t over Monday. Milena Franco, who lives in the city’s Midtown neighborhood, said she and her husband had water all weekend. But Monday morning, the flow was...
Posted: Jun 05, 2024
FRANKFORT, Ky. (AP) — Kentucky Gov. Andy Beshear said this week that a rental housing shortage has gnawed at him since the recovery began from a terrifying tornado outbreak that hit western parts of the state in late 2021. The …
Posted: Jun 05, 2024