Antares Announces Leadership Team for New Commercial Division
Antares Global Management Ltd. announced three key appointments for its new Commercial Division, which comprises Syndicate 1274 and Bermuda-based Antares Re. Antares announced in November that it was restructuring its underwriting operations by spitting its Bermuda and UK re/insurance businesses …
POSTED DECEMBER 06, 2024 5:30 PM |
Aviva CEO Amanda Blanc Conquers Detractors and Direct Line
Amanda Blanc is determined to steer Aviva Plc to one of the biggest takeovers in its history, a highlight in a storied insurance career where she’s stood up to challenges including activist shareholders and sexist barbs. If her £3.6 billion …
POSTED DECEMBER 06, 2024 4:30 PM |
UK Issues Red Warning as Storm Darragh Brings Hurricane-Strength Winds
Storm Darragh has triggered a red weather warning for the west coast of Wales and the Bristol Channel on Saturday, with hurricane-force winds forecast. Wind speeds are expected to reach as high as 90 miles (145 kilometers) per hour, according …
POSTED DECEMBER 06, 2024 4:09 PM |
After 23 Years as CEO, Craft Moves to Producer Role at Palomar as Williford Takes Helm
Alabama-based Palomar Insurance, a 70-year-old agency with offices across the state and in Mississippi and Georgia, announced that longtime CEO Tony Craft will step down to be a producer in the company. Replacing Craft at the top is Jim Williford, …
POSTED DECEMBER 06, 2024 3:45 PM |
Insured Losses From Natural Disasters Top US$100B for 5th Consecutive Year: Swiss Re
Estimated insured losses from natural catastrophes are on track to surpass US$100 billion in 2024 – for the fifth consecutive year — and are even likely to hit US$135 billion-plus, according to Swiss Re Institute. Natural disasters are driving an …
POSTED DECEMBER 06, 2024 3:41 PM |
Failure to Produce Proof of Purchase Dooms Insurer’s Product Liability Case
A federal court in Pennsylvania recently affirmed that plaintiffs seeking to hold a seller or distributor liable for a faulty product must provide clear evidence of where they purchased their product. In a homeowners insurance subrogation case over water damage …
POSTED DECEMBER 06, 2024 3:39 PM |
Goldman Sachs Quits Global Climate Coalition for Banks
Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, marking the latest high-profile departure of a U.S. financial firm from the group. The U.S. investment …
POSTED DECEMBER 06, 2024 3:36 PM |
Fraud Ringleader in Washington Sentenced, Ordered to Pay $7.1M in Restitution
A Washington man has been sentenced to a dozen years in prison and ordered to pay $7.1 million for leading a fraud scheme that involved staged collisions. A U.S. District Judge sentenced William Oldham Mize to 144 months in federal …
POSTED DECEMBER 06, 2024 3:04 PM |
Missouri to See Reduction in Workers’ Comp Rates in 2025
The Missouri Department of Commerce and Insurance (DCI) announced that employers should see a reduction in workers’ compensation rates in 2025, marking the fourth straight year of decreased rates. The projected rate reduction is based off preliminary figures collected by …
POSTED DECEMBER 06, 2024 3:04 PM |
Texas Tire Distributor Faces $288K Fine After Forklift Operator’s Death
A U.S. Department of Labor investigation revealed that proper workplace safety training and correct storage of pallets taller than 16 feet could have prevented the fatal injuries suffered by a forklift operator at a tire distribution center in Elm Mott, …
POSTED DECEMBER 06, 2024 2:57 PM |
Texas Senate to Pursue Ban on THC Products in 2025
Lt. Gov. Dan Patrick announced Wednesday that lawmakers in the state Senate would move to ban all forms of consumable tetrahydrocannabinol, or THC, in Texas. Patrick, who presides over the Senate and largely controls the flow of legislation in the …
POSTED DECEMBER 06, 2024 2:54 PM |
Georgia Parents and Teen Indicted in Fatal Drunk Driving Crash
DECATUR, Ga. (AP) — A Georgia couple has been charged with involuntary manslaughter after authorities say they let their daughter and her friends drink alcohol before they got in a fatal car crash that left one of them dead. Hannah …
POSTED DECEMBER 06, 2024 2:10 PM |
Baltimore First Responders Rush to Contain Fire in City’s Wood Refuse Area
Baltimore firefighters last night rushed to the scene of a fire spotted at a wood waste collection yard run by the city. At approximately 5:10 p.m. on Thursday, December 5, a Baltimore parks department employee called 911 after observing a …
POSTED DECEMBER 06, 2024 1:23 PM |
China Aims to Boost Foreign Investment in Property Insurance Market
China’s financial regulator unveiled a plan on Friday to enhance supervision and support the development of the property insurance industry, according to a statement. The country will support qualified foreign financial institutions to invest in its property insurance market, and …
POSTED DECEMBER 06, 2024 1:11 PM |
Ransomware Gangs’ Merciless Attacks Bleed Small Companies Dry
The black-and-white message flickering across computer screens sparked panic at Knights of Old, a 158-year-old UK delivery company: “If you’re reading this, it means the internal infrastructure of your company is fully or partially dead.” Knights’ network for managing trucks …
POSTED DECEMBER 06, 2024 12:50 PM |
Trump Names David Sacks as White House AI and Crypto Czar
Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will …
POSTED DECEMBER 06, 2024 12:41 PM |
Aviva Reaches Initial £3.6 Billion Deal to Buy Direct Line
Aviva Plc reached a preliminary agreement to buy Direct Line Insurance Group Plc for £3.6 billion ($4.6 billion) in a deal that would create the UK’s largest motor insurer. London-listed Aviva sweetened its bid in the latest negotiations with Direct …
POSTED DECEMBER 06, 2024 10:26 AM |
‘Large Number’ of Americans’ Metadata Stolen by Chinese Hackers, Says Official
A large number of Americans’ metadata has been stolen in the sweeping cyberespionage campaign carried out by a Chinese hacking group dubbed “Salt Typhoon,” a senior U.S. official told journalists on Wednesday. The official declined to provide specific figures but …
POSTED DECEMBER 06, 2024 6:06 AM |
Viewpoint: What’s on Tap for Insurance Digital Marketing in 2025?
Historically, insurance has had a reputation as an industry slow to embrace change. However, it’s safe to say that technology and customer expectations are leaving insurers with no choice but to adapt. Individuals and businesses are changing how they buy …
POSTED DECEMBER 06, 2024 6:05 AM |
Boeing Plea Deal Over Fatal 737 Crashes Rejected by Judge
A federal judge rejected Boeing Co.’s plea deal that sought to let the planemaker avoid criminal prosecution over to two fatal 737 Max crashes, in a surprise twist that threatens to prolong the company’s recovery from past scandals. US District …
POSTED DECEMBER 06, 2024 6:04 AM |
Don’t Touch Fla. Reforms, Panelists Implore, but Maybe Tax Breaks for Elevated Homes
Regulators, insurance companies and attorneys at the Florida Chamber of Commerce Annual Insurance Summit this week sent a clear message to lawmakers about tinkering with Florida’s property insurance law, two years after major legislative reforms were adopted: “Don’t touch it. …
POSTED DECEMBER 06, 2024 6:01 AM |
Massachusetts Cites Burger King, Settles With Popeyes Over Labor Law Charges
Massachusetts Attorney General Andrea Joy Campbell has issued citations against Northeast Foods LLC, a company which operates Burger King franchise locations across Massachusetts, for allegedly violating various state employment laws, including child labor laws. The citations, totaling approximately $2,029,754, include …
POSTED DECEMBER 06, 2024 6:00 AM |
Raw Milk Recall in California Expands After Tests Detect More Bird Flu Virus
A California farm expanded a recall of raw milk sold in stores and halted production after state health and agriculture officials found bird flu virus in more milk samples. Raw Farm, of Fresno, voluntarily recalled all whole milk and cream …
POSTED DECEMBER 06, 2024 6:00 AM |
Healthcare Staffing Agencies Denied Overtime Wages, Misclassified Employees
The U.S. Department of Labor reports it has obtained a consent judgment recovering more than $2.4 million in back wages and liquidated damages from Massachusetts and Pennsylvania healthcare staffing agencies that denied 341 employees overtime wages, including employees misclassified as …
POSTED DECEMBER 06, 2024 6:00 AM |
Former State Employee Pleads Guilty to Insurance Fraud and Felony Theft
A former state employee in Maryland has pleaded guilty in separate cases involving insurance fraud and felony theft. According to Maryland Attorney General Anthony G. Brown, the charges against Shanell Angelia West, of Essex, Maryland, stemmed from her actions during …
POSTED DECEMBER 06, 2024 2:07 AM |