People Moves: Folk Joins Alliant; Law Firm Clyde & Co. Adds Maroney
Timothy Folk has joined Alliant Insurance Services, headquartered in Irvine, California, as executive vice president, Alliant Specialty, in the firm’s agribusiness industry vertical. Folk focuses on food and beverage manufacturers and distributors and maintains a healthcare focus on aging services …
Jury Rules BNSF Contributed to 2 Deaths in Montana Town Exposed to Asbestos
A federal jury said BNSF Railway contributed to the deaths of two people who were exposed to asbestos decades ago when tainted mining material was shipped through a Montana town where thousands have been sickened. The jury awarded $4 million …
People Moves: Liberty Names Rubin Senior Vice President, Benefits
The Liberty Company Insurance Brokers named Neal Rubin senior vice president, benefits. Rubin is based in Irvine, California. Rubin has more than 40 years of experience in the Southern California employee benefits sector. He spent seven years as vice president …
GM Ends OnStar Driver Safety Program After Privacy Complaints
General Motors Co. has ended its OnStar Smart Driver program after customers complained it violated their privacy. OnStar had cut deals with LexisNexis and Verisk to share personal driving data as part of the program, which they then shared with …
People Moves: BHSI Names Humble as Head of Customer & Broker Engagement for South Central
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has appointed Hart Humble to the newly created role of Head of Customer & Broker Engagement (C&BE) for the South Central U.S. Humble has spent more than 30 years in the …
Chubb Wins Latest Battle With New York Diocese in Bid to Avoid Sex Abuse Claims
A New York state appeals court has reinstated Chubb insurance companies’ bid for judgments declaring that they are not obligated to cover thousands of sex abuse lawsuits brought against the Archdiocese of New York (ADNY). Chubb insurers have maintained that …
AM Best Downgrades Credit Rating of Texas Farm Bureau Insurance Group
AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of Farm Bureau County Mutual Insurance Company of Texas and Texas …
Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M
Marsh McLennan Agency, a subsidiary of Marsh, said it has a definitive agreement to acquire one of the largest agencies in the Southeast—Fisher Brown Bottrell Insurance, Inc. Marsh McLennan Agency will pay $315.9 million in cash, subject to customary purchase …
Berkley CEO: Property E&S Momentum Slows but ‘Some More Hay’ to Be Made
When it comes to observations of the excess and surplus lines market, there is a difference between the momentum of liability and property lines, said W.R. Berkley CEO W. Robert Berkley, Jr. Addressing some talk that has painted a picture …
Oakbridge Adds Strawn & Co. in Georgia
Atlanta-based OakBridge Insurance Agency has continued its rapid expansion with the acquisiton of Strawn & Co., headquartered in McDonough, Georgia, south of Atlanta. Strawn is one of the Atlanta area’s oldest and largest independent insurance agencies and has been in …
Workers’ Comp Apportion Evals Must be Well-Reasoned, WV Supreme Court Says
West Virginia law, like statutes in a number of states, allows employers to try and apportion contributions to a worker’s injury, including how much a pre-existing condition may have played a role. The employer/insurer holds the burden of proof. In …
Chamber of Commerce Sues to Block FTC’s Non-Compete Ban
Business groups led by the US Chamber of Commerce sued the Federal Trade Commission Wednesday seeking to block a rule finalized this week that would outlaw non-compete provisions that prohibit workers from switching jobs within an industry. In a complaint …
FAU Gets Grant to Study Seaweed Harvesting, Just as Blobs Approach South Florida
Researchers at Florida Atlantic University are using a $1.3 million grant to see if huge blobs of seaweed can be harvested to help mitigate the economic impact on Florida beaches. The FAU Harbor Beach Oceanographic Institute this month announced the …
Cape Coral Says FEMA Giving More Time on Questioned Rebuilding Info After Ian
The Federal Emergency Management Agency has granted the city of Cape Coral a 30-day extension to provide more information on rebuilding in the area after Hurricane Ian. The announcement came Monday, three weeks after FEMA notified local officials in southwest …
New York AG, Trump Attorneys Agree to Changes in $175M Bond in Civil Fraud Case
Lawyers for former President Donald Trump and the New York attorney general on Monday agreed to changes in the terms of the $175 million surety bond Trump secured with Knight Specialty Insurance Co. (KSIC). Attorney General Letitia James had objected …
Wildfires in Canada’s Oil Sands Region Prompts Evacuation Orders
Wildfires erupted across Canada’s main oil producing province of Alberta and an evacuation order was issued as the region braces for a repeat of last year’s unprecedented season. Members of the indigenous first nation community of Cold Lake Number 149, …
OPTIS: Insurance Agency M&A Down 18% in Q1 2024
The first quarter of 2024 was the slowest for insurance agency mergers and acquisitions since the middle of the pandemic, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A database counted 155 announced insurance agency mergers and …
Savannah Ordinance: Vehicles Should be Locked When Guns Left Inside
SAVANNAH, Ga. (AP) — Coastal Georgia’s largest city will require guns left in empty vehicles be securely stored, an effort that Savannah Mayor Van Johnson says is meant to cut down on gun thefts from unlocked cars. “We are not …
South Carolina Allows Out-of-State Adjusters After Massive Hail Storm
In the wake of last week’s widespread hail storm that damaged homes and automobiles, the South Carolina director of insurance said that emergency rules allow out-of-state adjusters and appraisers to work claims, as long as they are licensed in other …
W.R. Berkley Reports 50.4% Increase in Q1 Net Income
First quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million. The Greenwich, Connecticut-based commercial insurer started 2024 …
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