Insurance Journal
One worker is missing and the building is severely damaged after an early morning explosion at a pharmaceutical chemical plant in a business park in Newburyport, Massachusetts. Five workers were in the building at the time of the explosion. Four R...
Posted: May 04, 2023
One worker is missing and the building is severely damaged after an early morning explosion at a pharmaceutical chemical plant in a business park in Newburyport, Massachusetts. Five workers were in the building at the time of the explosion. Four R...
Posted: May 04, 2023
Italy’s top insurer Generali said on Thursday it had agreed to sell its German specialized pension unit to Fosun-backed Frankfurter Leben as it seeks to improve profitability in the life business and free up capital. By selling Generali Deutsch...
Posted: May 04, 2023
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based insurance broker, announced the acquisition of Switzerland-based AccurART. Terms of the transaction were not disclosed. AccurART is a specialist fine arts insurance broker for private col...
Posted: May 04, 2023
Specialist Risk Group (SRG), the London-based insurance broker, announced the acquisition of the managing general agent, The Medical Professional Liability Co. Ltd. (The MPLC), subject to regulatory approval. Financial terms of the deal were not disc...
Posted: May 04, 2023
This post is part of a series sponsored by IAT Insurance Group. Battling back from the Great Depression, the Hoover administration passed the “Buy American Act” in 1933. The basic premise of the law was self-evident — to revive and …...
Posted: May 04, 2023
Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by adequate pricing, higher inves...
Posted: May 04, 2023
Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by adequate pricing, higher inves...
Posted: May 04, 2023
Meta Platforms Inc. was accused by the Federal Trade Commission of repeatedly violating privacy promises it made to US regulators and now faces a possible government ban on launching new social-media products without an independent review. Meta, the...
Posted: May 04, 2023
French oil major TotalEnergies has sued environmental group Greenpeace France and climate consulting firm Factor-X over a report claiming the company massively underestimated its 2019 greenhouse gas emissions, Total said on Wednesday. The civil compl...
Posted: May 04, 2023
A U.S. judge has refused to let Peloton Interactive Inc customers pursue a class action accusing the bike and treadmill maker of misleading them about the “ever-growing” size of its library of on-demand fitness classes. In a 74-page decis...
Posted: May 04, 2023
Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses. The company reported a $342 million loss on an adjusted basis for the period, compared to p...
Posted: May 04, 2023
Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on Thursday. More than 200 financial inst...
Posted: May 04, 2023
Summit Consulting, a manager of five workers’ compensation insurance companies in the Southeast, has named Robert Darin Grimm senior vice president of claims. Grimm, who holds a doctorate from the University of South Florida’s college of...
Posted: May 04, 2023
The Tennessee General Assembly has approved a workers’ compensation presumption that post-traumatic stress disorder is work-related for firefighters, joining several other states that have adopted mental health presumptions in recent years. Sen...
Posted: May 04, 2023
Four Merced, California, family members were arraigned this week for multiple counts of insurance fraud after a California Department of Insurance investigation revealed the businesses owned and operated by the residents allegedly underreported payro...
Posted: May 04, 2023
Workers at a Pennsylvania chocolate factory smelled “rotten eggs” before a powerful natural gas explosion that leveled one building, heavily damaged another and killed seven people, federal safety officials said Tuesday in a preliminary r...
Posted: May 04, 2023
In an about-face, Twitter says it has restored free access to a key tool for verified government and “publicly owned” services so they can tweet weather, transit and other alerts after New York City’s transit agency said earlier thi...
Posted: May 04, 2023
Pensionmark named Jonathan Curley as the global head of compliance. Curley will oversee the global compliance strategies across all of the Santa Barbara, California-based firm’s financial services companies. Curley’s industry experience s...
Posted: May 04, 2023
Despite posting a year-over-year net income increase of 45%, Progressive Corp. shared first quarter financial results on Tuesday that showed the company falling short of its combined ratio goal for 2023. The firm’s CR for the quarter was 99 – &...
Posted: May 03, 2023
A Holbrook, Massachusetts man has been found guilty and sentenced to two and a half years in the Norfolk House of Correction for damaging luxury cars bought under false pretenses in order to collect insurance proceeds. Attorney General Andrea Joy ...
Posted: May 03, 2023
Keystone, the fourth largest participant-owned insurance agency network in the nation, added Perkins Insurance Agencies, LLC, based in Abilene, Texas, to its growing network of agencies in the state. A second-generation agency with deep roots in Abil...
Posted: May 03, 2023
BUFFALO, Iowa (AP) – Dale O’Donnell bought his small brick home only 100 yards or so from the Mississippi River because he enjoys watching the river and wanted a good view from his front porch. He got his money’s worth …
Posted: May 03, 2023
Manhattan District Attorney Alvin L. Bragg, Jr. announced indictments charging eight individuals and six companies with fraud and corruption within the construction industry, including conspiring to fraudulently use minority and women-owned business...
Posted: May 03, 2023
State emergency managers are projecting clean-up and repair costs of at least $10.6 million following severe winter storms that affected rural parts of Nevada in March. Nevada Division on Emergency Management spokeswoman Gail Powell said the amount i...
Posted: May 03, 2023