Insurance Journal
ATLANTA (AP) — Georgia Power Co. will pay $413 million to settle a lawsuit accusing the utility of reneging on financial promises to one of its nuclear reactor partners. The payments to Oglethorpe Power Corp., announced Friday, could hold down...
Posted: Oct 10, 2023
An Amtrak passenger train crashed into an SUV in southeastern Vermont, killing the SUV`s driver and injuring his passenger, authorities said. The state police said 53-year-old Craig Hudson, of Brattleboro, died in the crash Friday in Vernon, a town o...
Posted: Oct 10, 2023
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter. The potential deal would be the latest …...
Posted: Oct 10, 2023
The New Jersey attorney general’s office has opened an inquiry into how local law enforcement handled an investigation into a fatal car crash that involved the then-future wife of U.S. Sen. Robert Menendez, according to a law enforcement offici...
Posted: Oct 10, 2023
A helicopter crashed in the woods shortly after taking off in Croydon, New Hampshire, killing the pilot, the only person on board, authorities said. The craft was reported as missing for at least several hours. The helicopter had taken off …
Posted: Oct 10, 2023
This edition of International People Moves details appointments at Gallagher Re and Sompo International. A summary of these new hires follow here. Gallagher Re Taps RenRe’s Allard to Lead Global Credit & Political Risk Global reinsurance br...
Posted: Oct 10, 2023
iSure, the specialist SME managing general agent in Ireland, part of the re/insurance MGA Rokstone, has announced the launch of a professional Indemnity (PI) facility with a €2 million primary and a €3 million excess of loss limit. Drawing on …
Posted: Oct 10, 2023
Odey Asset Management is closing its wealth business, the UK’s Financial Conduct Authority said, months after its founder Crispin Odey was accused of sexual misconduct. “We will work closely with the firm as it winds down, to ensure clien...
Posted: Oct 10, 2023
Budgets and insurance policy costs have increased exponentially despite doubts surrounding efficacy of cyber practices, according to a recent survey gauging cybersecurity practices among global debt issuers conducted by Moody’s Investors Servic...
Posted: Oct 10, 2023
The Philippines’ state health insurer didn’t have cyber protection software when hackers attacked its computers, giving criminals access to the data of millions of its citizens and triggering calls for an extensive cybersecurity audit. Wh...
Posted: Oct 10, 2023
New data from Chubb and the National Center for the Middle Market shows nearly 75% of middle-market companies report an improvement in overall performance compared to last year — a record high statistic shared in the insurer’s biannual Middle M...
Posted: Oct 10, 2023
Britain’s Labour party has held back the launch of a new business council after senior Conservatives intervened with financial services companies that were due to take part. Chancellor of the Exchequer Jeremy Hunt spoke to at least one business...
Posted: Oct 10, 2023
Data and technology are becoming more important to the cannabis market as it matures, and insurance professionals specializing in the segment would benefit from keeping that at top of mind. A group of experts gathered during Insurance Journal’s...
Posted: Oct 10, 2023
A notorious group of hackers blamed for recent breaches on major casino companies is also suspected of being behind a recent cyberattack against Clorox Co. that has led to a nationwide shortage of its cleaning products. Officials suspect that “...
Posted: Oct 10, 2023
Hacking groups, including some tied to Russia, are attacking Israeli government and media websites, allying themselves with the Palestinian military group Hamas that launched a series of deadly attacks on the country over the weekend. Killnet, a grou...
Posted: Oct 10, 2023
China suffered direct economic losses of 308.29 billion yuan ($42 billion) over the first nine months of 2023, the government said, from natural disasters such as torrential rains, deadly landslides, freakish hailstorms and a string of typhoons. The...
Posted: Oct 10, 2023
The UK just moved a step closer to requiring companies to provide detailed statements on future carbon emissions reductions that will include both their operations and supply chains. The Transition Plan Taskforce, an initiative started by the UK Trea...
Posted: Oct 10, 2023
Two areas in Florida have become hot spots for home buying and building, one of them due to higher insurance costs in the rest of the state, according to news and insurance agency reports. Ocala, in the central part of …
Posted: Oct 10, 2023
A Pennsylvania chocolate factory was fined more than $44,000 by the federal workplace safety agency on Thursday for failing to evacuate before a natural gas explosion that killed seven people. R.M. Palmer Co. did not heed warnings from employees abou...
Posted: Oct 10, 2023
Hastings Mutual Insurance Company has submitted a Plan of Reorganization with the Michigan Department of Insurance and Financial Services seeking approval to restructure into a mutual holding company structure. HMIC plans to complete the following st...
Posted: Oct 10, 2023
The families of two New Jersey firefighters who were killed battling a July blaze inside a cargo ship said Friday a malfunctioning vehicle being used to load cargo onto the ship caused the fire. Relatives of Newark firefighters Captains Augusto ̷...
Posted: Oct 10, 2023
A $7 million settlement has been reached with the California Highway Patrol in the fatal shooting of a driver and wounding of his girlfriend during a 2020 traffic stop in Oakland, lawyers for the man’s family and the survivor said. …
Posted: Oct 10, 2023
MADISON, Wis. (AP) – A milling company has agreed to plead guilty to federal charges that employees at a Wisconsin corn plant falsified records in the years leading up to a fatal corn dust explosion. The plea deal calls for …
Posted: Oct 10, 2023
A McDonald’s restaurant in Checotah, Oklahoma, operated by franchisee Arch Fellow North LLC, violated federal law when a manager sexually harassed a 17 year-old worker, and she was forced to resign, the U.S. Equal Employment Opportunity Commiss...
Posted: Oct 10, 2023
ALKEME acquired Cartier Insurance Group in Houston, Texas and serving Texas, California and Arizona. Cartier Insurance Company is focused on insurance for the trucking and transportation industry and has diversified its offerings to include a range o...
Posted: Oct 10, 2023