Insurance Journal
The number of worldwide mergers and acquisitions in the insurance sector in 2023 dropped to 346 in 2023, down from 449 in the previous year, according to a new report from Clyde & Co. But the global law firm believes …
Posted: Feb 27, 2024
Europe’s automakers will not challenge the European Union’s decision to effectively ban fossil-fuel vehicles as of 2035 no matter who wins this year’s European parliamentary elections, the head of the continent’s auto industry...
Posted: Feb 27, 2024
A subsea cable off the coast of Yemen that connects Europe to India has been damaged, and the telecommunications carrier that owns it must now figure out how to make underwater repairs in a war zone. Seacom Ltd., the South …
Posted: Feb 27, 2024
China’s market regulator said on Friday that Tesla Inc. would fix software in 8,700 vehicles to reduce the chance of accidents. The action involving 1,071 imported Model S and Model X and 7,629 China-produced Model 3 is described as a …
Posted: Feb 27, 2024
The US Federal Trade Commission, eight states and Washington DC sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. Monday, arguing the tie-up would lead to lower wages for workers and higher prices for groceries. In a compl...
Posted: Feb 27, 2024
Markel Group Inc., headquartered in Glen Allen, Virginia, named Mike Heaton as executive vice president and chief operating officer. Heaton most recently served as executive vice president at Markel Group. From 2016 to 2022, he served as president of...
Posted: Feb 27, 2024
Lockbit, the cybercrime gang that was knocked offline by a comprehensive international police operation earlier this month, says it has restored its servers and is back in business. The group, notorious on the internet’s criminal underground fo...
Posted: Feb 27, 2024
MGM Resorts International disclosed that state and federal regulators were probing a cyberattack on its systems that took place in September and caused a $100 million hit to the company’s third-quarter results. The casino operator intends to re...
Posted: Feb 27, 2024
The continuing saga of the Houston-based plaintiffs’ law firm of McClenny Moseley & Associates, suspended and sanctioned for flooding courts with erroneous lawsuits against property insurers in Louisiana, has taken a new political twist in...
Posted: Feb 27, 2024
The city of Pittsburgh did not adequately maintain or repair a bridge and failed to act on inspection reports, leading to the corrosion of the structure’s steel legs and its collapse into a ravine, federal investigators said Wednesday. The city...
Posted: Feb 27, 2024
AM Best placed under review with negative implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of “b” (Marginal) of Casualty Underwriters Insurance Co. in Salt Lake City, Utah. The ratings ha...
Posted: Feb 27, 2024
Teens working at Sky Zone trampoline park in Vancouver, Washington, did not receive meal breaks, and worked more hours than the law allows during school times, an investigation by the Washington State Department of Labor & Industries shows. L&...
Posted: Feb 27, 2024
Hackers working for the ‘Blackcat’ ransomware gang are behind the outage at UnitedHealth’s technology unit that has snarled prescription deliveries for six days, two people familiar with the matter told Reuters on Monday. The proble...
Posted: Feb 26, 2024
Signers National a group of insurance companies dedicated to servicing key client segments across the United States, announced the acquisition of Affiliated Insurance Agents. Affiliated Insurance Agents is an independent agency based in Houston and f...
Posted: Feb 26, 2024
State Farm Insurance brought forth a subrogation lawsuit last week against Norfolk Southern over damages to a pair of East Palestine, Ohio homes allegedly caused by the railroad company’s February 2023 train derailment. State Farm filed a compl...
Posted: Feb 26, 2024
Blu Clarity, a value-based risk management solutions, has chosen Irys Insurtech as its foundational technology platform. This strategic move empowers Blu Clarity, an MGA, to quote and bind policies in real-time with any Irys platform user. Houston, T...
Posted: Feb 26, 2024
Union Bay Acquisition LLC, an aggregator of insurance agencies agent based in Lansdale, Pennsylvania, has acquired Skar Insurance Group of Rockford, Michigan. Terms were not disclosed. Skar Insurance specializes in trucking insurance with presence in...
Posted: Feb 26, 2024
The Iowa Insurance Division announced it entered a settlement in principle with a group of affiliated companies commonly known as Abra. The settlement addresses Abra’s alleged offer and sale of interest-bearing cryptocurrency depository product...
Posted: Feb 26, 2024
Gracious, LLC, a company based in New Orleans and doing business as Gracious Bakery + Café, violated federal law when it fired an employee because of a medical condition related to her pregnancy, the U.S. Equal Employment Opportunity Commission (EEOC...
Posted: Feb 26, 2024
Verisk Analytics forecast 2024 adjusted profit below market estimates last Wednesday, as the broader data and analytics industry grapples with worries that an uncertain economy would potentially trigger spending cutbacks from clients. The companyR...
Posted: Feb 26, 2024
Some of the most insidious and damaging species of termites are spreading across Florida, causing damage to homes as swarming season approaches in March, experts say. The South Florida Sun Sentinel reported that entomologists at the University of Flo...
Posted: Feb 26, 2024
A lithium ion battery sparked a fire that killed one person and injured 17 others at a New York City apartment building, fire officials said Saturday. Friday’s two-alarm fire began just after 2 p.m. on the third floor of a …
Posted: Feb 26, 2024
Florida Peninsula Insurance Co., one of Florida’s larger residential insurers, has named attorney Nancy Staff to be director of corporate compliance. The position is a new one for Florida Peninsula, where Staff will be responsible for developin...
Posted: Feb 26, 2024
The longtime head of the National Rifle Association, Wayne LaPierre, misspent millions of dollars of the organization’s money, using the funds to pay for an extravagant lifestyle that included exotic getaways and trips on private planes and sup...
Posted: Feb 26, 2024
Regulators need broader oversight of financial firms to prevent a crisis in the vast non-bank sector wreaking havoc on the economy, Britain’s central bank said on Monday. The Bank of England was forced to step in and buy UK government …
Posted: Feb 26, 2024