These Texans Aren’t Taking Buyouts Despite Repeated Floods
HARRIS COUNTY — After the floodwaters earlier this month just about swallowed two of the six homes that 60-year-old Tom Madigan owns on the San Jacinto River, he didn’t think twice about whether to fix them. He hired people to …
Central US States Brace for Possible Severe Storms: Weather Watch
There is a moderate risk — the second highest — of severe thunderstorms across parts of Iowa, Illinois, Wisconsin and Missouri affecting more than 3.8 million people, the US Storm Prediction Center said. “All severe hazards will be possible including …
Risk Strategies Acquires Indiana’s Silveus
Risk Strategies announced that it has acquired Silveus Insurance Group, Inc (Silveus). The Indiana-based broker dates back to 1940 and is the country’s largest independent specialty provider of crop insurance. Terms of the deal were not provided. Based in Warsaw, …
BASF to Pay $316 million to Settle PFAS ‘Forever Chemicals’ Lawsuit
German chemical company BASF said on Tuesday it reached a $316.5 million settlement with some U.S. public water systems that claimed toxic “forever chemicals” in firefighting foam made by the company contaminated their water supplies. The money provided by the …
Auto Insurers’ Digital Channels ‘Remarkably Resilient’, Finds J.D. Power Study
Auto insurance websites and apps are doing a good job of delivering foundational functional capabilities, bringing in more customers than agents and call centers. But far fewer are providing the type of value-added services that set them apart. With auto …
Child Is Among 3 Killed When Amtrak Train Hit Pickup Truck in Upstate New York
A child was among the three victims killed when a passenger train hit a pickup truck, officials said. The northbound Amtrak train hit a Dodge truck Friday evening in North Tonawanda, New York, a small town along the Niagara River …
Canada Plans Harsher Laws, Equipment Bans to Fight Car Theft
Canada’s government is banning key-programming machines and other equipment used to steal cars, while implementing harsher penalties to combat a rising number of auto thefts across the country. Minister of Justice Arif Virani unveiled a national plan to combat car …
California Court to Weigh Fate of Law Treating App-Based Drivers as Contractors
California’s top state court on Tuesday will consider a labor union’s challenge to a ballot measure allowing app-based services such as Uber and Lyft to classify drivers in the state as independent contractors rather than as employees with more benefits. …
Markets/Coverages: MGA OpenRoad Enters Collector Vehicle Insurance Market
Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this summer. National Interstate Insurance Company, a member …
Triple-I and NICB Partner to Help Consumers Fight Contractor Fraud
The Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) are marking May 20-24 as Contractor Fraud Awareness Week (CFAW) to highlight how homeowners can protect themselves from dishonest contractors. “For many homeowners who are victims of contractor …
Massachusetts Appeals Court Upholds Restaurants’ COVID-19 Insurance Denial
In a ruling against an upscale restaurant chain, a Massachusetts Appeals Court has followed the recipe the state’s high court set forth in 2022 in ruling that the COVID-19 virus does not trigger business interruption insurance because it does not …
Liberty Co. Adds Ayers Brackfield Insurance in Tennessee
The Liberty Co. insurance brokers, based in Gainesville, Florida, continues its expansion with the addition of Ayers Brackfield Insurance in Knoxville, Tennessee. ABI, in business since 1992, has operated in 18 states, offering personal and commercial lines of insurance products, …
Cyberattacks Over Work Email Most Used; Ransomware Hits Victims Hard: Arctic Wolf
Business email compromise is now the top method of cyberattack, according to a survey from cybersecurity firm Arctic Wolf. Of the 1,000 surveyed senior IT and cybersecurity decisionmakers from organizations in more than 15 countries, 70% said they were targets …
People Moves: CFC Canada Taps Marsh’s Della Mora as CEO, Opens 1st Canada Office
CFC, the London-based specialist managing general agent, announced the appointment of Kate Della Mora to the newly created role of CEO, CFC Canada. Della Mora’s appointment coincides with the launch of CFC’s first office on the ground in Canada, based …
Aon’s NFP Acquires UK-Based Consultant HELPGB
NFP, an Aon company and international insurance brokerage and consulting firm, announced it has acquired HELPGB, a human resources and health and safety consulting business. Financial details of the deal were not disclosed. Clark Hunter, director of HELPGB, will remain …
Warburg, Temasek Buy Insurance Services Firm, Specialist Risk Group, in £1B Deal
Warburg Pincus and Singapore’s Temasek Holdings Pte agreed to acquire Specialist Risk Group Ltd., an independent insurance intermediary based in London. The management team of Specialist Risk Group will continue to hold a significant stake, investing alongside Warburg, a private …
Markets/Coverages: Rokstone, Allianz Commercial Partner for $10M Marine Cargo Facility
Allianz Commercial and Rokstone, the Aventum Group’s international re/insurance MGA, announced a collaboration for a US$10 million facility to write marine cargo business worldwide with immediate effect. This broadens Allianz’s wholesale marine distribution and allows Rokstone to write direct and …
AI-Intensive Sectors Are Seeing Productivity Surge: PwC
The types of business which are most likely to use artificial intelligence are seeing growth in workers’ productivity that is almost five times faster than elsewhere, raising hopes for a boost to the broader economy, accountancy firm PwC said. Productivity …
Japan’s Insurers Surge on Buybacks, Unwind of Cross-Holdings
Shares of Japanese insurers MS&AD Insurance Group Holdings Inc. and Tokio Marine Holdings Inc. surged after the companies announced stock buybacks, as well as plans to sell their holdings in client companies. MS&AD, which also reported full-year guidance that exceeded …
GSK Faces Whistleblower Suit From Lab That Found Zantac Risk
GSK Plc is facing a whistleblower lawsuit that could potentially cost it billions of dollars from the laboratory that revealed the presence of a probable carcinogen in Zantac, the heartburn medication that the UK drugmaker invented and turned into a …
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