Gas Stoves Linked to 40,000 Premature Deaths in Europe Annually
Gas stoves in European homes are associated with tens of thousands of premature deaths, a study has found. Nearly 40,000 early deaths each year in the EU and UK can be linked to exposure to nitrogen dioxide from burning gas …
Arthur J. Gallagher & Co. Acquires Australia’s Via Financial Group
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-headquartered broker, announced the acquisition of Australia’s Via Financial Group Pty Ltd. Terms of the transaction were not disclosed. Based in Sydney, New South Wales, Via Financial Group provides financial planning, wealth …
Brazil Seals $30 Billion Compensation Deal With BHP, Vale Over 2015 Dam Collapse
Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, Vale, and Samarco for the Mariana dam collapse in 2015, one of the country’s worst environmental disasters. The collapse of the dam at the iron …
Broker Insights’ ‘Decision Intelligence’ Officially Heads to the US
After building its business up in the United Kingdom, Broker Insights said it is ready to officially bring its commercial insurance placement analytics to the United States. For the last 12-18 months, Broker Insights has been preparing for its expansion …
Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …
US Investigating Breach of Telecoms by China-Linked Hackers
The US government said Friday it was investigating unauthorized access by Chinese state-affiliated hackers targeting the commercial telecommunications sector. The FBI and the Cybersecurity and Infrastructure Security Agency said they had identified specific malicious activity by actors affiliated with the …
Universal, AmCoastal Report Some Costs from Helene, Milton for Q3
One of Florida’s largest property insurers and one of its smaller carriers reported losses at least partly related to Hurricane Helene, which landed just before the third quarter closed, and from Hurricane Milton, which struck less than two weeks later. …
Big I Illinois Announces Annual Awards
Big I Illinois, an association representing Trusted Choice® independent insurance agents throughout the state, presented awards to top agents and agencies during the association’s annual convention and 125th Anniversary Celebration held in Peoria, October 15-17, 2024. Big I Illinois presented …
Mississippi River Dries Up Again at Worst Time for US Farmers
The Mississippi River is suffering from low waters for the third straight autumn, a crucial time of year when American farmers rely on the route to deliver their crops to the world. Months of limited rainfall — with few chances …
Texas Manufacturer Faces $257K Fine for Workers’ Injuries
Federal workplace safety investigators have determined that a Temple, Texas manufacturer and designer of school furnishings could have prevented an employee’s serious and permanent hand and arm injuries by installing required machine guards. Investigators with the U.S. Department of Labor’s …
Texas Grid Chief Says Big Tech Must Pay More for Power Upgrades
Technology giants developing big artificial intelligence data centers in Texas will need to pay more for electricity infrastructure upgrades to prevent those costs from burdening households and other businesses, according to the state grid operator’s chief. Affordable power is “at …
Clear Group Acquires UK Broker Vision Insurance Services Ltd.
The Clear Group, the London-based independent insurance broker, announced it has acquired Vision Insurance Services Ltd, based in Bagshot, Surrey, UK. Financial details of the transaction were not disclosed. This latest acquisition strengthens Clear’s presence in the south east of …
Allianz Weighs Options for AllianzGI Unit: Sources
Allianz is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, …
Title Insurer Settles Kickback Charges With District for $500K
District of Columbia Attorney General Brian L. Schwalb reported that Universal Title will pay $500,000 after an investigation by his office found that the company was engaged in an illegal title insurance kickback scheme. The attorney general’s office said Universal …
Q3 Net Income Up 18% at The Hartford
Third quarter 2024 net income at The Hartford improved about 18% compared to the same period a year ago despite $247 million in pretax catastrophe losses—$104 million from Hurricane Helene. Net income was $767 million compared to $651 million a …
Georgia County to Sue BioLab Over Chemical Fire and Toxic Fumes
CONYERS, Ga. (AP) — A Georgia county is preparing a federal lawsuit that aims to shut down the BioLab chemical factory where a fire sent a toxic chemical cloud over Atlanta’s suburbs last month, the latest in a series of …
North Carolina Calculates Helene Damage at $58B, Far More than Florence
RALEIGH, N.C. (AP) — The catastrophic flooding and destruction caused by Hurricane Helene in western North Carolina likely caused at least a record $53 billion in damages and recovery needs, Gov. Roy Cooper’s administration said Wednesday. The state budget office …
FM Makes Third ‘Resilience Credit’ With $400M for Clients
Eligible commercial property insurance clients of FM will receive a share of $400 million in what the insurer calls a “resilience credit” to be put toward climate mitigation solutions. This is the third resilience credit allocated since FM announced the …
Philippines Races to Limit Storm Damage as Trami Keeps Strength
The Philippines is ramping up efforts to contain the devastation caused by severe tropical storm Trami, which has killed 25 people, affected millions and shut government offices for a third straight day on Friday. President Ferdinand Marcos Jr. said the …
US Gains $100M Settlement With Owner, Operator of Ship That Wrecked Key Bridge
The Singaporean corporations that owned and operated the cargo ship Dali have agreed to pay $101,980,000 to resolve a civil claim brought by the United States for costs related to the response to the catastrophic collapse of Baltimore’s Francis Scott …