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 …
US to Deploy More Than $50 Million to Shield Private Hospitals From Cyberattacks
The US government is seeking to play a more active role in protecting the private health-care sector from a deluge of cyberattacks that have disrupted patient care and left providers unpaid. US health officials will unveil Monday a new program …
Georgia Statute of Limitations Not Automatically Tolled in Negligent Security Cases
Insurers covering property in Georgia could be on the hook for personal injuries occurring on the premises if the property owners and property managers do not fulfill their duty to exercise ordinary care in keeping their premises and approaches safe, …
Cal/OSHA Beefing Up Safety Enforcement to Protect Workers Against Silicosis
California’s Division of Occupational Safety and Health reports seeing growing number of silicosis cases among stone workers in California, and the agency is launching efforts to beef up its enforcement efforts. Since 2019, more than 100 California stone workers have …
Hawaii Outlines Efforts to Prevent Another Devastating Wildfire Ahead of a Dry Season
As Maui continues to recover from the deadliest U.S. wildfire in more than a century, Hawaii officials are looking at preventing another similar disaster ahead of what is expected to be a dry, fire-prone season, Gov. Josh Green said in …
Relation Insurance Acquires Brooklyn’s Elite Agency
California-based Relation Insurance Services reports it has acquired Elite Insurance Agency, Inc. on April 1, 2024. Elite, based in Brooklyn, New York. offers employee benefits, commercial insurance, and high-net-worth personal insurance, Owner Yechiel Bromberg will continue managing that office as …
Judge Rejects Former Delaware Trooper’s Discrimination Claims Against State Police
A federal judge ruled last Friday in favor of the Delaware State Police in a lawsuit filed by a former trooper who said she was subjected to years of discrimination, sexual harassment and retaliation as she rose through the ranks. …
Couple Staged Half Million Dollar Fraud Against Theater Nonprofit, Insurer Claims
Philadelphia Indemnity Insurance Co. is suing a Connecticut couple the insurer alleges defrauded its insured, a Florida theater nonprofit, by using the organization’s checking and credit card accounts for more than a half million dollars in unauthorized personal expenditures over …
Power Restored to Majority of Houston Residents Affected by Deadly Storms
HOUSTON (AP) — Houston area residents affected by deadly storms last week received some good news as officials said power was restored Sunday to a majority of the hundreds of thousands who had been left in the dark and without …
Arizona Wildfire Growing Amid Windy Conditions
A wildfire has led the U.S. Forest Service to shut down a portion of the Tonto National Forest has grown to more than 14,000 acres. The Wildcat Fire increased in size because of windy weather conditions Sunday, prompting the Tonto …
Chicago Tribune Faces Suit Over Pay Disparities Among Women and Black Journalists
CHICAGO (AP) — The Chicago Tribune is being sued by some of its staffers, who say they and other women and Black journalists are being paid less than their white male counterparts. The complaint filed Thursday in federal court in …
People Moves: AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC/Europe
AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC & Europe AXA XL announced that Robert Riha has been appointed as chief client & distribution officer, APAC & Europe, effective July 1. In his new role, Riha will …
Security First Touts 5% Rate Decrease for HO-3, Renters Policies in Florida
Citing the stabilizing impact that legislative reforms have had on the Florida market, Security First Insurance Co. executives this week announced two residential property rate reductions of more than 5%. “For the first time in nine years, we’re going to …
Kansas Governor Cites Competition Concerns While Vetoing Bill for School Gun-Detection Technology
Kansas Gov. Laura Kelly vetoed a measure Wednesday that could have earmarked up to $5 million for gun-detection systems in schools while expressing concern that it could have benefitted only one particular company. Kelly’s line-item veto leaves in place $5 …
Indigenous Consultant Accuses Chicago Blackhawks of Fraud, Sexual Harassment
A consultant the Chicago Blackhawks hired to improve relationships with American Indian tribes has filed a lawsuit accusing the team, its charity foundation and its CEO of fraud, breach of contract and sexual harassment. Nina Sanders filed the civil action …
Inszone Acquires Texas’ JHC Insurance Agency
Inszone Insurance Services announced the acquisition of JHC Insurance Agency, Inc., an independent insurance agency serving the Victoria community and beyond. Rooted in the values of independence and client-focused service, JHC Insurance Agency, Inc. has become a key player in …