AM Best Report Stirs the Pot on Whether MGAs Lead to Insurer Insolvencies
In May of 2022, as Florida lawmakers debated solutions to the Florida property insurance crisis, a number of Democrats in the state Senate argued that it wasn’t litigation and roof claims that had led to so many insurer insolvencies: It …
Schrager Hampson Aviation Expands With Acquisition of Pennsylvania’s Bilella Agency
Schrager Hampson Aviation Insurance Agency LLC, a division of Schrager Hampson Aviation Insurance Group, has announced the acquisition of Charles W. Bilella Agency Ltd, its sixth aviation insurance acquisition. The Charles W. Bilella Agency, in Blue Bell, Pennsylvania, has served …
Hub Acquires High Net Worth Specialist Jackson Hole Insurance
Hub International Ltd. acquired the assets of Jackson Hole Insurance LLC in Wyoming. Evan Molyneaux, president, and Geoff Whitaker, senior sales executive, will join Hub Mountain. Jackson Hole Insurance will be referred to as Jackson Hole Insurance, a Hub International …
Massachusetts Weighs Workers’ Comp Rate Hike to Correct for ‘Excessive’ 2024 Cut
Massachusetts workers’ compensation insurers have filed for a 7.1% increase in average rates for industrial classes beginning July 1, 2025 — the first rate increase since 2016. Why an increase in 2025? According to the industry, it’s because the state …
Cal/OSHA Issues $276K Citation for Serious Heat Violations
The California Division of Occupational Safety and Health issued $276,425 in penalties to Parkwood Landscape Maintenance based in Van Nuys, California, for willfully violating state heat illness prevention regulations. Cal/OSHA determined that the employer knowingly failed to follow heat protection …
Washington Fines and Moves to Bar Asbestos Removers From Working in State
Two Washington asbestos removal contractors face losing the ability to legally do future asbestos removal work, plus nearly a half-million dollars in fines, for allegedly knowingly exposing workers to extremely hazardous conditions. The Washington State Department of Labor & Industries …
Amazon Ignored Its Own Worker Safety Studies, Senate Report Says
Amazon.com Inc. leaders rejected internal recommendations that the company relax warehouse worker productivity rates to curb injuries, according to a report from a congressional committee. Released Monday by the majority staff for the Senate Committee on Health, Education, Labor and …
Troubled New York Taxi Insurer Sues 180 Providers in Huge No-Fault Fraud Case
New York’s largest taxi insurer that is facing serious financial and regulatory challenges has filed a lawsuit seeking more than $450 million against medical providers it alleges have been part of a huge fraud scheme that takes advantage of the …
NFP Acquires Salus Group, Expanding Its Employee Benefits Practice
NFP, an Aon company, announced its acquisition of Benefits Partner, LLC dba Salus Group, an independent employee benefits consulting, brokerage and administration firm based in Sterling Heights, Michigan. Michael Brillati, CEO of Salus Group, will join NFP as senior vice …
Massachusetts Charges 12 With Running $2.6 Million High-End Car Theft Ring
Massachusetts law enforcement officials report that 12 individuals identified as stealing 63 high-end vehicles totaling more than $2.6 million have been arraigned. Another individual related to the investigation has an outstanding warrant and has not yet been arrested. The takedown …
PointeNorth Expands in Southeast With Acquisition of Georgia Agency
Atlanta-based PointeNorth Insurance Group, a broker and agency specializing in commercial insurance, including transportation, construction and condominium coverage, has continued its rapid pace of growth with the addition of another Georgia agency. PointeNorth has acquired Caldwell & Langford Insurance in …
US to Require Rear Seat Belt Reminders in Vehicles in 2027
The U.S. Transportation Department said Monday it will require rear seat reminder systems to boost seat belt use starting in late 2027 in all new cars and trucks in an bid to reduce traffic crash deaths and injuries that have …
AI Focal Point of Cybersecurity Outlook for 2025, Says Experian
Artificial intelligence is at the center of Experian’s annual breach forecast due to its enabling capabilities. Michael Bruemmer, vice president of global data breach resolution at information services company, said that while ransomware and breaches affecting the supply chain dominated …
Trucordia Acquires Virginia’s Richard King Agency
Insurance brokerage Trucordia reports that its most recent acquisition is the Richard King Insurance Agency, a family-owned brokerage firm in Powhatan, Virginia. The Richard King Insurance Agency has been offering personal and commercial insurance in the greater Richmond area since …
Deloitte Faces Class Action Lawsuits Over Rhode Island Cyber Breach
Deloitte Consulting has been hit with class action lawsuits over the cyber breach of Rhode Island’s portal for state-administered benefits known as RIBridges. The suits have been brought in Rhode Island and New York federal courts on behalf of individuals …
Meta Settles With Australia’s Privacy Watchdog Over Cambridge Analytica Lawsuit
Meta Platforms has agreed to a A$50 million settlement ($31.85 million), Australia’s privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal. The Office of the Australian Information Commissioner had alleged …
Ex-West Virginia School System Official Charged With Stealing $3.4 Million
CHARLESTON, W.Va. (AP) — A former maintenance director of a southern West Virginia county school system was charged in a scheme to steal about $3.4 million from a local board of education. Michael David Barker appeared in court Wednesday after …
Toyota to Add $922M Paint Facility at Large Kentucky Complex
GEORGETOWN, Ky. (AP) — Toyota plans to build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest manufacturing …
Becton Dickinson to Pay $175 Million to Settle SEC Probe
Becton, Dickinson & Co. has agreed to a $175 million fine over Securities and Exchange Commission claims it repeatedly misled investors about one of its most important products. The regulator said Becton Dickinson was aware an infusion pump it manufactured …
ConnectUW Holdings Opens for Business at Lloyd’s
ConnectUW Holdings, the parent company of Connect Underwriting and other specialist reinsurance MGAs, announced it will take ownership of Lloyd’s box number 356 from Dec. 23, 2024. Situated in the company market section on Gallery 3, ConnectUW will initially offer …