January 28, 2022

Fri, 28 Jan 2022 07:57:55 +0000
Bolttech, an insurance technology unicorn backed by Hong Kong billionaire Richard Li, is considering raising $200 million to $300 million in fresh funds this year, according to people familiar with the matter. The Singapore-based company is working wit...
Fri, 28 Jan 2022 07:30:33 +0000
Lawyers for an associate athletic director who filed a $50 million federal racketeering lawsuit against Louisiana State University say she has been fired in retaliation and asked the court Wednesday to add that claim to her suit. “On January 5, …
Fri, 28 Jan 2022 06:03:34 +0000
Seeing no action on bills that would address Florida’s spiraling property insurance problems head-on, one state senator took a different route Thursday and proposed reducing insurers’ payments to the state’s hurricane catastrophe fund, a move he said c...
Fri, 28 Jan 2022 06:00:54 +0000
Raffi Sarian, 32, of North Hollywood, California, was arraigned this week on four felony counts of identity theft and nine felony counts of forgery after allegedly altering information from professional licenses and diplomas to apply unearned “affinity...
Fri, 28 Jan 2022 06:00:51 +0000
Relatives of passengers who died in crashes of Boeing 737 Max jets are pressing Attorney General Merrick Garland to help them re-open a settlement that shielded Boeing from criminal prosecution for misleading federal safety regulators about the plane. ...
Fri, 28 Jan 2022 06:00:43 +0000
A Democrat-led House committee voted mostly along party lines Wednesday to release a bill legalizing recreational marijuana use by adults in Delaware. A lone Republican joined Democrats on the Health and Human Development committee in voting to release...
Fri, 28 Jan 2022 06:00:34 +0000
Testing wells in a Maine town contain per- and polyfluoroalkyl (PFAS) and the chemicals may have traveled through well systems and drinking water, the state’s department of environmental protection found. Last month, the DEP said 10 Kittery homes will ...
Fri, 28 Jan 2022 06:00:29 +0000
Wei Wen Wu, 54, and Feng Wen Lam, 49, both of Arcadia, California, were charged with 43 felony counts of insurance fraud, grand theft, and conspiracy after allegedly underreporting nearly $4.5 million in employee payroll. The scheme reportedly fraudule...
Fri, 28 Jan 2022 06:00:08 +0000
It seems more and more budding entrepreneurs have followed the allure of starting a home-based business, so much so that it is estimated that half of the 30 million small businesses in the U.S. are home-based. AXIS Insurance identified these …
Thu, 27 Jan 2022 18:44:34 +0000
An insurer group is unhappy with new legislation to require insurance companies operating in California to disclose investments in fossil fuel-related entities as well as the fossil fuel-related companies and projects being underwritten. Assembly Bill ...
Thu, 27 Jan 2022 17:37:42 +0000
The Environmental Protection Agency is taking a series of enforcement actions to address air pollution, unsafe drinking water and other problems afflicting minority communities in three Gulf Coast states, following a “Journey to Justice” tour by Admini...
Thu, 27 Jan 2022 17:33:52 +0000
A courthouse in north Louisiana will be closed indefinitely so that repairs can be made to the building’s main power distribution system. Crews are assessing damage to the Caddo Parish Courthouse’s power grid that happened during maintenance on Jan. 23 …
Thu, 27 Jan 2022 17:16:28 +0000
The Missouri Department of Insurance announced that consumers received nearly $25 million from their insurance companies in 2021 thanks to the services provided by the department’s Consumer Affairs Division and Market Regulation Division. The revenues ...
Thu, 27 Jan 2022 17:11:31 +0000
Cincinnati, Ohio-based Norman-Spencer is growing its current real estate errors & omissions (E&O) program by creating an exclusive Risk Purchasing Group (RPG) with The Hanover Insurance Group. Exclusive coverages within the program include E&O insuranc...
Thu, 27 Jan 2022 17:06:00 +0000
Digital home insurance company Kin Insurance, Inc. and Omnichannel Acquisition Corp., a special purpose acquisition company, announced they have mutually agreed to terminate their plan to merge. The parties cited “current unfavorable market conditions”...
Thu, 27 Jan 2022 16:44:15 +0000
Vermont businesses will see a rate decrease of 4.9% in workers’ compensation costs. The reduction will be effective on April 1, 2022, and is estimated to save Vermont employers more than $8 million in premiums over the next year. Gov. …
Thu, 27 Jan 2022 16:31:45 +0000
British insurer First Central Group Ltd. is considering a sale that could value the business at about 600 million pounds ($800 million), people with knowledge of the matter said. First Central Group is working with Evercore Inc. as it prepares …
Thu, 27 Jan 2022 16:21:48 +0000
Supporters spoke passionately Wednesday about the need for workers’ compensation insurance to cover mental health treatment for first responders, but the chair of a Georgia House committee decided to send the bill to a council for further study. Sponso...
Thu, 27 Jan 2022 16:00:23 +0000
Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working Group (EWG) released on Thursday. The report …
Thu, 27 Jan 2022 15:50:48 +0000
Los Angeles County faces two lawsuits connected to last year’s shootings at a fire station that killed a firefighter and wounded a captain in attack investigators said stemmed from a longstanding job-related dispute. Firefighter Jonathan Tatone killed ...
Thu, 27 Jan 2022 15:50:24 +0000
Everest Re Group Ltd. announced it has become an official signatory of the UN Principles for Sustainable Insurance (PSI), a global framework for a sustainable insurance industry developed through partnership between risk management leaders and the Unit...
Thu, 27 Jan 2022 15:50:15 +0000
Relation Insurance Services has continued its rapid-expansion plan with the purchase of South Carolina-based Hodge Ethridge Insurance and Financial Services, the company announced. The terms of the deal were not disclosed. Hodge Ethridge was previously...
Thu, 27 Jan 2022 15:47:13 +0000
Evacuation orders were lifted Wednesday as firefighters strengthened control lines and mopped up hot spots at a wildfire along California’s Big Sur coast, authorities said. Fire activity was minimal overnight, with higher humidity and light winds, Cal ...
Thu, 27 Jan 2022 15:32:30 +0000
Marine N-Surance Brokers, a wholesaler and managing general agency in Longwood, Florida, has been acquired by First Light Program Managers, the firms announced. Marine was founded in 2002 by Paul Greenaway and has specialized in wholesale marine liabil...
Thu, 27 Jan 2022 15:31:49 +0000
The top challenge currently facing London market insurance companies is climate risk, a new survey by the International Underwriting Association (IUA) has revealed. In a survey of its members, the organization recorded 27% of respondents mentioning cli...
Thu, 27 Jan 2022 15:03:04 +0000
Fourth quarter 2021 net income at Marsh McLennan more than doubled compared to the same period in 2020, to $803 million. Full year net income increased about 56% to $3.1 billion from $2 billion for all of 2020. Net income …
Thu, 27 Jan 2022 14:58:27 +0000
This edition of International People Moves details appointments at AEGIS London, Corvus Insurance and AEGIS London Names Powell as CEO, as Croom-Johnson Retires AEGIS London, the Lloyd’s syndicate and subsidiary of AEGIS (Associated Electric & Gas Insu...
Thu, 27 Jan 2022 14:39:12 +0000
Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management. The five-year loan will carry an interest rate of …
Thu, 27 Jan 2022 13:19:57 +0000
Business closures in the UK jumped by 14% from a year ago in the fourth quarter as the coronavirus pandemic took a brutal toll. Almost every industrial group saw the number of closures rise, with the transport and storage sector …
Thu, 27 Jan 2022 13:05:05 +0000
Generali has agreed to become the majority shareholder in both its property/casualty and life joint ventures in India. For the P/C business, Generali has agreed to acquire 25% of the shares of Future Generali India Insurance (FGII) from Future Enterpri...