Insurance Journal
PoloWorks announced the launch of Polo Insurance Managers (PIM) after the Guernsey Financial Services Commission granted “approval in principle.” PIM will be one of the few independent insurance managers active in Europe and will serve ca...
Posted: Feb 13, 2024
Arthur J. Gallagher & Co. announced the acquisition of London-based The Wright Agency Ltd., doing business as Simply-Communicate Ltd. Terms of the transaction were not disclosed. Simply is a workplace communication agency providing consulting ser...
Posted: Feb 13, 2024
Fairfax Financial on Monday denied allegations by Muddy Waters Research that the Canadian insurer was manipulating asset values, saying the short-seller’s report was “false and misleading.” The detailed counter comes days after the...
Posted: Feb 13, 2024
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Stockholm-based managing general underwriter Ryan Specialty Nordics AB, have announced a new strategic trading partnership. SiriusPoint will support Ryan Specialty Nordics as it...
Posted: Feb 13, 2024
A chunk of the vast fleet of tankers that Russia uses to deliver its crude oil is grinding to a halt under the weight of US sanctions, a sign that tougher measures by western regulators might be starting to have …
Posted: Feb 13, 2024
Iceland’s government has agreed to buy all residential properties in the fishing town of Grindavik, which has become uninhabitable after three volcanic eruptions rocked the region in the last two months. Grindavik has been subject to repeated s...
Posted: Feb 13, 2024
Warren Buffett is taking on Build-A-Bear. Jazwares, the Berkshire Hathaway-owned maker of the popular Squishmallows plush toys, sued Build-A-Bear Workshop on Monday, calling its new Skoosherz plush toy line “knockoffs” that infringed its...
Posted: Feb 13, 2024
No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal magazine asked industry thought leaders their predictions for the property/casualty...
Posted: Feb 13, 2024
The Florida Office of Insurance Regulation next week will hold hearings on two property insurers’ requests for 54% average rate increases, one of which has already affected more than 105,000 condominium unit owners. Castle Key Indemnity Co., on...
Posted: Feb 13, 2024
Burnham Benefits Names Foderaro Managing Director Burnham Benefits Insurance Services, headquartered in Irvine, California, named William Foderaro as managing director. Foderaro has more than 20 years of experience in the employee benefits industry....
Posted: Feb 13, 2024
The federal Occupational Safety and Health Administration (OSHA) has cited a New Jersey contractor for again exposing workers to fall hazards, this time while working at a construction site in Franklin Lakes, New Jersey. OSHA said it has inspected Ad...
Posted: Feb 13, 2024
Officials in Bucks County, Pennsylvania, said the government refused to negotiate with the hackers claiming responsibility for the cyberattack on January 21 that shut down some of the county’s computers systems and the county never paid any ran...
Posted: Feb 13, 2024
A driver charged in separate crashes that killed two people during a pop-up car rally in southern New Jersey has been sentenced to 25 years in state prison. Gerald White, 38, of New Castle, Delaware, pleaded guilty in December to …
Posted: Feb 13, 2024
A New York teacher who staged a mock slavery auction of Black students in her fourth-grade classroom will pay $75,000 to settle claims on behalf of a 10-year old boy whose mother said he was emotionally damaged by being forced …
Posted: Feb 13, 2024
A man whose family’s gender reveal photo shoot sparked a Southern California wildfire that killed a firefighter in 2020 has pleaded guilty to involuntary manslaughter, prosecutors said. The El Dorado Fire erupted on Sept. 5, 2020, when Refugio...
Posted: Feb 13, 2024
A magnitude 5.7 earthquake struck the world’s largest active volcano on Friday — Mauna Loa on the Big Island of Hawaii — knocking items off shelves and cutting power in a nearby town but not immediately prompting reports of serious …
Posted: Feb 12, 2024
A ruling that gives the Dartmouth basketball team the right to unionize has far-reaching implications for all of college sports — from the quaint, academically oriented Ivy League to the big-money football factories like Michigan and Alabama. But it&...
Posted: Feb 12, 2024
A new group of Wall Street firms has agreed to pay more than $81 million in civil penalties to settle U.S. Securities and Exchange Commission charges of record-keeping failures, the regulator said on Friday. The settlements with broker-dealers and in...
Posted: Feb 12, 2024
Remember the Carpoffs, the California couple sent to prison in 2021 and 2022 for running a $1 billion Ponzi scheme tied to mobile solar generators? The scheme that reportedly ensnared Warren Buffet’s Berkshire Hathaway and the Progressive insur...
Posted: Feb 12, 2024
Hewlett-Packard lost more than $4 billion over its acquisition of British software firm Autonomy because of an elaborate fraud masterminded by its co-founder Mike Lynch to inflate the company’s value, HP’s lawyers told a London court on M...
Posted: Feb 12, 2024
Bonnie and Clyde, Ma Barker, Baby Face Nelson and Willie Sutton robbed banks. When asked by a journalist asked why he did, Sutton famously replied “because that’s where the money is.” If banks’ $3.1 trillion in cash and invest...
Posted: Feb 12, 2024
Starkweather & Shepley Insurance Brokerage Inc., headquartered in Providence, Rhode Island, named Andrew Fotopulos chairman and Peter Plumb chief executive officer. The two will assume their roles in June upon the retirement of Larry Keefe, curre...
Posted: Feb 12, 2024
Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14% increase over reported losses in 2022, newly released Federal Trade Commission data shows. Consumers rep...
Posted: Feb 12, 2024
TikTok owner ByteDance Ltd. faces the threat of hefty fines as the European Union prepares a probe under its strict new content moderation rules over concerns of risks to minors. The European Commission will open an investigation into TikTok under &#...
Posted: Feb 12, 2024
JASPER, Ala. (AP) — The theft of a giant radio tower has silenced what used to be the voice of a small Alabama town and the surrounding county, the radio station’s general manager said. A thief or thieves made off …
Posted: Feb 12, 2024