Insurance Journal
Leverage is now very high in parts of the $7 trillion hedge fund sector, G20 risk watchdog Financial Stability Board (FSB) warned on Wednesday, while noting that significant data gaps make it hard to get a full picture of vulnerabilities …
Posted: Sep 06, 2023
Tests are being carried out to determine whether the UK Houses of Parliament contain the form of crumbling concrete that caused ministers last week to tell more than 100 schools to close buildings. Surveyors are investigating if any parts of …
Posted: Sep 06, 2023
This post is part of a series sponsored by Old Republic Surety. If you have construction clients who are in growth mode and want to take on bigger projects, here’s help you can share for increasing their surety capacity — …
Posted: Sep 06, 2023
A North Carolina insurance agent will have to return to court to determine if he or the client acted negligently by failing to disclose details about an insured’s property, the state’s Court of Appeals decided Monday. In Daniel Jones vs....
Posted: Sep 06, 2023
Just days after another hurricane smashed through part of Florida, another property and casualty insurer has been approved for the state, providing more evidence that 2022 legislative limits on litigation are having a desired effect. “I think i...
Posted: Sep 06, 2023
Vermont is implementing new requirements for vehicle registrations using out-of-state addresses. In years past Vermont was happy to register non-residents’ vehicles if they paid the registration fee, which some in neighboring states were happy...
Posted: Sep 06, 2023
Verizon Business Network Services of Ashburn, Virginia, has agreed to pay $4,091,317 to resolve False Claims Act allegations that it failed to completely satisfy certain cybersecurity controls in an information technology service it provided to feder...
Posted: Sep 06, 2023
California Insurance Commissioner Ricardo Lara named new members Colbie McRae, Gloria Mitchell, and Vinh Truong to the Curriculum Board; Michael Golden to the California Automobile Assigned Risk Plan (CAARP) Advisory Committee; and reappointed member...
Posted: Sep 06, 2023
A Long Island couple was killed after their boat collided with a larger vessel and capsized, police said Monday. Louis Deritis, 53, was operating a 27-foot (8-meter) boat at about 10:40 p.m. Sunday when it collided with a 44-foot (13-meter) …
Posted: Sep 06, 2023
The Reinsurance Association of America has come out with a white paper on the California homeowners insurance market that urges policymakers consider the risks of inaction. The paper, “Dynamics and Challenges in California’s Homeowners In...
Posted: Sep 05, 2023
The Louisiana Department of Insurance (LDI) announced it has partnered with the Alliant Insurance Foundation, the Spencer Educational Foundation and Southern University to create a new risk management and insurance degree program at Southern Universi...
Posted: Sep 05, 2023
A Stafford, Texas engine component manufacturer was cited for failing to correct safety hazards that caused an employee’s finger amputation in March 2022, the U.S. Department of Labor said. Inspectors with the department’s Occupational Sa...
Posted: Sep 05, 2023
An eight-person jury in Omaha, Nebraska returned a verdict of $36,075,000 in favor of the U.S. Equal Employment Opportunity Commission (EEOC) on disability discrimination claims against Drivers Management, LLC and Werner Enterprises, Inc., the federa...
Posted: Sep 05, 2023
Starr Insurance announced that Christopher Magee has joined Starr as vice president, international head of Financial Lines and Professional Liability, a new position focused on growing the business outside the U.S. and helping clients manage their ri...
Posted: Sep 05, 2023
McGriff announced that it has acquired Alternative Risk Resources (ARR), a Wisconsin-based commercial brokerage firm that specializes in captive insurance. The transaction expands McGriff’s presence in the captive insurance market with a firm t...
Posted: Sep 05, 2023
In the emerging post-pandemic era, most aspects of life have returned to normal. Moviegoers are flocking to cinemas, vacationers jammed airports for summer travel and kids are returning to classrooms. The one thing that has remained stubbornly fraugh...
Posted: Sep 05, 2023
Backstreet Boys singer Nick Carter has won a favorable ruling in one of two civil lawsuits filed against him in Nevada, one by a woman who alleges he raped her on his tour bus in Washington state in 2001 and …
Posted: Sep 05, 2023
California regulators last week approved a controversial proposal to greatly increase storage capacity at the site of the nation’s largest known methane leak, which sickened thousands of families and forced them from their Los Angeles homes in...
Posted: Sep 05, 2023
California regulators last week approved a controversial proposal to greatly increase storage capacity at the site of the nation’s largest known methane leak, which sickened thousands of families and forced them from their Los Angeles homes in...
Posted: Sep 05, 2023
A group of scientists used machine learning to quantify empirical relationships between temperature and the risk of extreme daily wildfire growth in California to show the influence of temperature on the risk – and they found that climate change boos...
Posted: Sep 05, 2023
Californians know wildfires and earthquakes; hurricanes, not so much. So when Tropical Storm Hilary inundated Southern California in normally bone-dry August, it showed just how exposed homeowners are to a growing financial risk from unpredictable cl...
Posted: Sep 05, 2023
Guy Carpenter, the reinsurance business of Marsh McLennan, announced the appointment of Julian Enoizi as CEO of Guy Carpenter Europe effective immediately. Enoizi will be based in Europe and report to Laurent Rousseau, CEO of Guy Carpenter Europe, Mi...
Posted: Sep 05, 2023
The world is losing the race to meet its climate change goals, the president of the upcoming COP28 summit said on Tuesday, as African leaders called for changes to what they say is an unfair international climate finance system. The …
Posted: Sep 05, 2023
This edition of International People Moves details appointments at the Howden MGA DUAL and at the broker Howden Germany. A summary of these new hires follows here. DUAL Appoints McGinn From Allianz as UK CEO DUAL, the specialist underwriting arm R...
Posted: Sep 05, 2023
McConkey Insurance & Benefits, a locally owned independent insurance agency based in York, Pennsylvania, announced its recent acquisition of Gallen Insurance Agency, located in Berks County. According to Michael Harter, president and CEO of McCon...
Posted: Sep 05, 2023