Insurance Journal
The Georgia General Assembly on Monday approved a bill that would require lower minimum amounts of uninsured motorist coverage for ride-sharing and taxi companies. But a measure that would mandate premium discounts for property owners who fortify the...
Posted: Mar 28, 2023
A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America’s nearly $2.5 billion reorganization plan approved last year to allow the organization to settle tens of thousands of sexual …...
Posted: Mar 28, 2023
National insurance broker World Insurance Associates has acquired the business of Finger Lakes Partners Insurance Services Inc. of Geneva, New York.’ Terms of the transaction were not disclosed. Finger Lakes was formed in 2007 with the merger o...
Posted: Mar 28, 2023
AnaCap Financial Partners, a London-based private equity investor, announced the sale of a minority stake in portfolio company MRH Trowe, a German owner-managed commercial lines insurance broker. AnaCap and MRHT’s founding managers have signed...
Posted: Mar 28, 2023
North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a...
Posted: Mar 28, 2023
Geico General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York has certified &#...
Posted: Mar 28, 2023
The head of the U.S. National Security Agency’s cybersecurity directorate on Monday said TikTok represents a “strategic issue” rather than an immediate “tactical” threat to the United States. Speaking at a policy confere...
Posted: Mar 28, 2023
UK insurer RSA announced it is exiting the UK personal lines motor market to focus on its core lines. The company explained the move by saying that the personal lines motor market in the UK remains extremely competitive and requires …
Posted: Mar 28, 2023
Atlanta-based InsureTrust, a cyber insurance specialty broker, has named Florence Levy executive vice president. InsureTrust, part of Starwind Specialty, said that Levy is well-known in the industry and was previously a director of cyber incident man...
Posted: Mar 28, 2023
Aqueous Underwriting has secured major new capacity following the signing of an initial three-year deal with insurer Allianz Insurance. The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it...
Posted: Mar 28, 2023
Aqueous Underwriting has secured major new capacity following the signing of an initial three-year deal with insurer Allianz Insurance. The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it...
Posted: Mar 28, 2023
Google parent Alphabet asked a U.S. federal judge on Monday to dismiss a Justice Department lawsuit alleging that the search giant illegally abused its dominance of online advertising. The government, which filed the ad tech lawsuit in January along...
Posted: Mar 28, 2023
Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year. The...
Posted: Mar 28, 2023
Australia’s financial institutions must improve their resilience to cyberattacks, the head of the nation’s banking regulator said Tuesday. A recent review uncovered a “lack of rigor” in the nature and frequency of security con...
Posted: Mar 28, 2023
Billionaire Ajay Piramal and TPG Inc. are considering selling their stakes in Shriram General Insurance Holdings Co., according to people familiar with the matter. Piramal and TPG are jointly working with an adviser on divesting a combined 30% stake...
Posted: Mar 28, 2023
A group of climate activists has called on 30 insurance company CEOs to “immediately” stop underwriting new fossil fuel projects in the wake of a stark climate warning from U.N. scientists, a letter, seen by Reuters, showed. Insure our Fu...
Posted: Mar 28, 2023
The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator alleged were an “illegal” exchange and a...
Posted: Mar 28, 2023
A top US banking regulator has launched investigations into managers’ conduct in the Silicon Valley Bank and Signature Bank failures. “It is worth noting that these two institutions were allowed to fail,” Martin Gruenberg, chairman...
Posted: Mar 28, 2023
Citizens Property Insurance Corp. has weighed in on a question that could shake up the appraisal process in Florida insurance claims disputes, urging state regulators to require that appraisers be licensed adjusters. In a motion to intervene in a pet...
Posted: Mar 28, 2023
A Vancouver, Washington contractor was found to owe $201,223 in wages and interest to 20 employees on construction projects at four area schools. The contractor, 360 Sheetmetal LLC, and owner Beverley Martin, were also found to owe more than $115,000...
Posted: Mar 28, 2023
A group of prison firefighters said their feet burned and their socks melded to their feet during a gruesome fire clean-up assignment that left several unable to walk, stand or shower without assistance for days, according to a new lawsuit. …
Posted: Mar 28, 2023
Philadelphia residents are being told that they may want to drink only bottled water following a chemical spill into the Delaware River in neighboring Bucks County. Bucks County health officials said Sunday that a leak late Friday evening at the R...
Posted: Mar 28, 2023
WEST READING, Pa. (AP) – All seven bodies have been recovered from the site of a powerful explosion at a chocolate factory in a small town in eastern Pennsylvania, officials said. West Reading Mayor Samantha Kaag said in a statement …
Posted: Mar 28, 2023
WEST READING, Pa. (AP) – A fifth body has been recovered from the site of a powerful explosion at a chocolate factory in a small town in eastern Pennsylvania and two remained unaccounted for Sunday. West Reading Mayor Samantha Kaag …
Posted: Mar 28, 2023
Parker, Smith & Feek acquired Professional Benefit Services Inc. in Washington. PBS President Jere Meyer and Account Executives Katie Stewart and Lesley Behrndt will join Parker, Smith & Feek’s team of more than 350 associates. PBS prov...
Posted: Mar 27, 2023