Insurance Journal

Oakbridge, Built on Southeast Acquisitions, Has Been Acquired by Private Equity Firm

Oakbridge Insurance Agency, known for its rapid growth and acquisition of agencies across the Southeast in recent years, has itself been purchased by a private equity firm. Audax Private Equity, which calls itself a capital partner for middle-market...

Posted: Sep 26, 2023

Tampa Police Investigating if Former NFL Player Received Unprescribed Drugs in Hospital

Tampa police are investigating after family members of former NFL wide receiver Mike Williams said someone may have slipped him unprescribed opioid medication while he was in the hospital after a construction accident. A Tampa Bay Times report also g...

Posted: Sep 26, 2023

CheckMate Makes Check Payments Feel Digital

“With CheckMate, the deposits get to the bank faster – by at least 1-2 days, and what used to take 2-3 minutes per check to process has become 2-3 minutes per batch.” Austin, TX September, 25, 2023 – Microplastics. The …

Posted: Sep 26, 2023

JPMorgan Settles Epstein Lawsuit With US Virgin Islands for $75 Million

JPMorgan Chase reached settlements with the U.S. Virgin Islands (USVI) and former executive Jes Staley to resolve lawsuits over sex trafficking by the disgraced financier Jeffrey Epstein, largely resolving a scandal that has weighed on the largest U....

Posted: Sep 26, 2023

Cough Syrup Deaths Overseas Prompt US Crackdown on Toxic Testing

The U.S. FDA is cracking down on lax testing practices by dozens of makers of healthcare products following hundreds of deaths overseas from contaminated cough syrups, a Reuters review of regulatory alerts found. The Food and Drug Administration has...

Posted: Sep 26, 2023

Residents Prepare to Return to Sites Of Homes Demolished In Lahaina Wildfire

From just outside the burn zone in Lahaina, Jes Claydon can see the ruins of the rental home where she lived for 13 years and raised three children. Little remains recognizable beyond the jars of sea glass that stood outside …

Posted: Sep 26, 2023

Six Killed When Train Strikes SUV at Unguarded Florida Rail Crossing

PLANT CITY, Fla. (AP) — Three adults, two teens and a child from an extended family died after their SUV was struck by a freight train at an unguarded crossing in central Florida, authorities said. Another adult remained hospitalized with &#823...

Posted: Sep 26, 2023

Student Sues Alabama Fraternity over Alleged Brain Injury from Hazing

TUSCALOOSA, Ala. (AP) — A student and his parents have filed a lawsuit against a University of Alabama fraternity, saying he suffered a traumatic brain injury while being hazed as a fraternity pledge earlier this year. The lawsuit filed last &#...

Posted: Sep 26, 2023

James River Sells Individual Risk Workers Comp Renewal Rights to Amynta Group

James River Group Holdings Ltd. said some of its subsidiaries have entered into an agreement to sell the renewal rights to their Individual Risk Workers Compensation (IRWC) business to Amynta Group. The transaction includes the full operations of the...

Posted: Sep 26, 2023

Automakers Delay Complying with Massachusetts Data Repair Law

An auto industry group said on Friday carmakers do not plan to immediately comply with a Massachusetts law requiring them to share vehicle data with independent repair shops citing concerns about potential hacking. The National Highway Traffic Safety...

Posted: Sep 26, 2023

Antarctica’s Shrinking Sea Ice Hits Record Low, Alarming Scientists

At its largest expanse this year, sea ice covered less than 17 million square kilometers (6.6 million square miles) of the Antarctic — an area that is 1 million square kilometers (almost 400,000 square miles) smaller than the previous record …

Posted: Sep 26, 2023

People Moves: Arch Insurance (Bermuda) Promotes Smith to MD After Hay Retires; Aon Taps Nichols From...

This edition of International People Moves details appointments at Arch Insurance and Aon. A summary of these new hires follows here. Arch Insurance (Bermuda) Promotes Smith to MD after Hay Retires Arch Insurance (Bermuda) announced the appointment o...

Posted: Sep 26, 2023

Three-Quarters of Firms Globally Are Not Ready for New ESG Rules: KPMG Report

Three-quarters of companies globally are not ready to have their environmental, social and governance (ESG) data audited externally months before new regulations kick in, according to a new report from KPMG published on Tuesday. Stricter European Uni...

Posted: Sep 26, 2023

Apple Supplier Pegatron to Halt Assembly at India Plant for Second Day After Fire

Apple supplier Pegatron has told its factory workers not to report for work on Tuesday, halting the assembly of iPhones for a second straight day at its south India factory where a fire broke out on Sunday, three sources told …

Posted: Sep 26, 2023

Bermuda Public Services Remain Disrupted After Cyber Attack

Bermuda is working to restore public services that were halted after last week’s “sophisticated and deliberate” cyberattack on its government systems, the island’s premier, E. David Burt, said on Monday. Authorities are invest...

Posted: Sep 26, 2023

People Moves: AIG Appoints Dandridge Chief Marketing, Communications Officer; Heck New NAMIC Chair

AIG Appoints Dandridge EVP and Chief Marketing & Communications Officer American International Group, headquartered in New York, N.Y., hired Edward L. Dandridge as executive vice president and chief marketing and communications officer, effective...

Posted: Sep 26, 2023

UK Workers Take Most Sick Leave in More Than a Decade: Employer Survey

British workers took the most sick leave in more than a decade during the past year, a survey of employers showed on Tuesday, adding to signs of a lasting increase in ill health since the COVID-19 pandemic. The Chartered Institute …

Posted: Sep 26, 2023

Ares Management Provides £1 Billion of Loans for UK Insurance Merger

Ares Management Corp. is providing a direct-lending package of about £1 billion ($1.2 billion) to support the merger of two personal insurance businesses in the UK, according to people familiar with the matter. Ardonagh Group — a large borrower in &#...

Posted: Sep 26, 2023

Thomson Reuters AI Copyright Dispute Must Go to Trial, Judge Says

A jury must decide the outcome of a lawsuit by information services company Thomson Reuters accusing Ross Intelligence of unlawfully copying content from its legal-research platform Westlaw to train a competing artificial intelligence-based platform,...

Posted: Sep 26, 2023

Conservative Activist Uses Civil War-Era Law to Challenge Corporate Diversity

The anti-affirmative action activist behind the successful U.S. Supreme Court challenge to race-conscious college admissions policies is trying to use a Civil War-era law designed to protect formerly enslaved Black people from racial bias to dismantl...

Posted: Sep 26, 2023

OpenAI CEO: Possible to Get Regulation Wrong, but Should Not Fear it

The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI. Many countries are …

Posted: Sep 26, 2023

NC Commissioner, Firefighters Question New Law Making Fire Marshal a Separate Office

North Carolina’s Republican supermajority in the legislature has thrown a curveball to the state’s insurance commissioner and fire marshal, a position that until recently has mostly stayed above partisan politics. A late change to the sta...

Posted: Sep 26, 2023

Arthur J. Gallagher Acquires Hartley Cylke Pacific Insurance Services in California

Arthur J. Gallagher & Co. today acquired San Hartley Cylke Pacific Insurance Services Inc. in San Diego, California. Michael Hartley, John Cylke, James Hawes and their team will remain in their current location under the direction of Scott Firest...

Posted: Sep 26, 2023

Connecticut Eyes 9.8% Cut in Workers’ Compensation Costs

Connecticut workers’ compensation insurers are recommending an overall 9.8% reduction in loss costs in the voluntary market and a 10.5% overall reduction in the assigned risk market. The rate filing submitted to the Connecticut Insurance Depart...

Posted: Sep 26, 2023

Shimano Issues Crankset Recall After Several Crashes and Injuries

NEW YORK (AP) — Cycling company Shimano is recalling some 760,000 bike cranksets in the U.S. and Canada due to a crash hazard that has resulted in several reported injuries. According to a Thursday notice from the U.S. Consumer Product …

Posted: Sep 25, 2023