Contractor Again Exposed Workers to Cave-In, Excavation Hazards: OSHA
The Occupational Safety and Health Administration reported that it has again cited an Easton, Connecticut concrete and earthwork contractor for willfully failing to protect workers from cave-in and excavation hazards OSHA has proposed more than $1.2 million in fines after …
California Cuts PG&E’s and Edison’s Profits for Grid Investments
California regulators reduced the profit that utilities are allowed to make on infrastructure investments in an effort to rein in soaring electricity bills. Related: Massive Wildfire Liabilities Push Utilities to Use AI to Stop Blazes The move Thursday by the …
California Commissioner Orders Moratorium on Cancellations Over Pack Fire
Insurance Commissioner Ricardo Lara ordered a mandatory one-year moratorium to prevents homeowners’ insurance cancellations and non-renewals for Pack Fire victims following an emergency declaration. Lara ordered insurers to preserve residential property insurance coverage for more than 14,800 policyholders affected by …
Davis & Towle Adds Keene Agency to Its New Hampshire Group
Davis & Towle Insurance Group, a large New Hampshire independent insurance agency, now has 13 agency locations in its group across the state with the addition of The Insurance Source. The Insurance Source in Keene has served the Greater Monadnock …
AIG Partners With Amwins, Blackstone to Launch Lloyd’s Syndicate Using Palantir
American International Group (AIG) said it has teamed up with specialty insurer Amwins and asset manager Blackstone to launch a Lloyd’s syndicate, using its relationship with Palantir to assist in assessing the portfolio. AIG said Syndicate 2479 will start underwriting …
Apollo Expands Asset-Level Risk Reviews to Reflect Impact of Extreme Weather
Apollo Global Management Inc. is building out its risk review process to reflect the impact on asset valuations of extreme weather. The decision comes amid a rise in the damage done to physical assets by floods, storms and wildfires. Apollo, …
Vantage Group to Be Acquired by Ackman-Backed Howard Hughes Holdings for $2.1B
Vantage Group Holdings Ltd., the privately held specialty re/insurer, has entered into a definitive agreement to be acquired by Howard Hughes Holdings Inc. (HHH) for approximately $2.1 billion. The Vantage deal, which is expected to close in the second quarter …
Former National General Loss Rep and Mom Charged With Fake Claims Scam
A former loss representative for National General Insurance Co. and his mother allegedly ran a scheme in 2022 that involved false claims, a fake towing company and a $141,000 loss for the insurer. Horace Kelly, 40, and his mom, Greta …
Iowa AG Sues Roblox for Allegedly Failing to Protect Kids on Gaming Platform
Attorney General Brenna Bird announced she has sued the online gaming company Roblox for allegedly failing to take necessary steps to protect Iowa kids from sexual exploitation, facilitating distribution of child sex abuse material, and failing to warn Iowa parents …
Munich Re Offers Geothermal Risk Insurance in State-Backed Drive
Insurer Munich Re and Germany’s KfW Development Bank are introducing a state-backed program to mitigate the financial risk of geothermal drilling and encourage exploration for the renewable heat and power source. Geothermal power is an abundant energy source that can …
Woman Charged After Razor Blades Found in Bread at 2 Mississippi Walmarts
A woman who allegedly pushed razor blades into loaves of bread at two Biloxi, Mississippi, Walmart stores was arrested on Tuesday. Camille Benson, 33, of Texas, has been charged with attempted mayhem. Her bond is set at $100,000. Harrison County …
People Moves: Markel Int’l Taps AXIS’ Howell as Senior War and Terrorism Underwriter; Tokio Marine Kiln Appoints Jackson From Liberty as Cyber Underwriter
This edition of International People Moves details appointments at Markel Insurance and Tokio Marine Kiln. A summary of these new hires follows here. Markel Int’l Taps AXIS’ Howell as Senior War and Terrorism Underwriter Markel Insurance, the insurance operation within …
Plans for Attack in New Orleans Thwarted, Feds Say
Plans to “carry out an attack” in New Orleans were thwarted after an ex-Marine was arrested while on the way to the Louisiana city with guns and body armor in the car, according to court documents obtained Tuesday by The …
TDI’s Walker Wins NAIC Robert Dineen Award for Outstanding Service
Texas Department of Insurance (TDI) Deputy Commissioner Jamie Walker won this year’s Robert Dineen Award, the highest honor for a state regulator bestowed by the National Association of Insurance Commissioners (NAIC). NAIC President Jon Godfread said, “Walker’s career reflects remarkable …
Wisconsin Dairy Farm Sued for National Origin Discrimination, Sexual Harassment
United Pride Dairy LLC, a dairy farm in Phillips, Wisconsin, violated federal law when it subjected three employees of Mexican origin to disparate treatment in the terms and conditions of employment, and also subjected a female employee to sexual harassment, …
US Crypto Industry Cheers 2025 Wins, but Party May Fizzle Next Year
After celebrating Donald Trump’s second presidential term by swilling cocktails and partying to Snoop Dogg at a pre-inauguration event in January, the crypto industry went on to notch major legislative and regulatory victories this year. But the party may not …
Business Moves: BMS Forms Strategic Partnership in India, Launches Dubai Subsidiary
BMS Group Ltd, the London-based re/insurance broker, this week announced a strategic partnership in India with Berns Brett India as well as the launch of BMS (DIFC) Ltd., in Dubai, with immediate effect. BMS has acquired a minority stake in …
AM Best Removes Ratings of Pet Health Insurer From Under Review
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of pet health insurance provider Independence American Insurance Co. (IAIC). The outlooks …
Russian Oil Tankers Cleave to Turkish Coast to Cut Drone Risks
Oil tankers hauling Russian crude across the Black Sea are taking a roundabout route along the coastlines of Georgia and Turkey — a measure that might help them to reduce the risk of being targeted by Ukrainian sea drones. Vessel …
Japan Faces $6-a-Person Lawsuit Over Climate Change Risks
More than 450 people are suing Japan’s government and seeking damages of 1,000 yen ($6) each, alleging one of the world’s top greenhouse gas emitters isn’t doing enough to combat global warming. The lawsuit, filed Thursday at the Tokyo District …
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