People Moves: Leif Assurance Hires Galvan as Commercial Lines Account Manager; Applied Underwriters Names Holtmeier VP, Strategic Development, for M&A and Partnership Alliances
Leif Assurance Hires Galvan as Commercial Lines Account Manager Leif Assurance, headquartered in St. Louis, hired Mayra Galvan as commercial lines account manager. Galvan is responsible for managing clients’ renewal process and assisting with new business acquisitions. Galvan brings 13 …
Progressive, Cleveland Guardians Extend Stadium Naming Rights Deal
Progressive Insurance is doubling up its commitment with the Cleveland Guardians. Progressive and the Cleveland Guardians this week announced a 13-year deal for Progressive to remain the official insurance provider of the Major League Baseball club and continue the naming …
People Moves: HSB Canada Appoints Bellissimo as President and CEO; Canopius Taps Lee From AIG as CEO, Asia-Pacific & MENA
This edition of International People Moves details appointments at HSB Canada and Canopius Group. A summary of these new hires follows here. HSB Canada announced the appointment of Barbara Bellissimo as president and chief executive officer, effective April 1, 2024. …
Iowa Man Sentenced for Insurance Fraud
An Iowa man was sentenced in March after pleading guilty to one count of Theft 3rd Degree (Aggravated Misdemeanor) following an investigation by the Iowa Insurance Division’s Fraud Bureau. Khalil Justin Crawley, age 22, of Waterloo was sentenced on March …
US D&O Insurance Segment’s Improved Results Unlikely to Be Sustainable: Fitch
The U.S. directors and officers (D&O) liability insurance segment’s strong underwriting profit of 2023 is unlikely to be sustainable, according to Fitch Ratings. Fitch attributed this reality to declining premium revenues from lower premium rates, as well as the segment’s …
People Moves: Risk Strategies Appoints Conklin; Edwards Joins Alliant in New York
Risk Strategies, headquartered in Boston, appointed Josh Conklin as national employee benefits growth leader and senior managing director. Conklin joined Risk Strategies in 2019 through the acquisition of National Insurance Consulting Group (NICG), an employee benefits and human capital consulting …
Major Highway, Rail Service Shut Down in Philadelphia After Truck Hits Bridge
A stretch of a major interstate highway will be closed for several days after a tractor-trailer carrying an oversize load struck a railroad bridge in Philadelphia. The truck crashed on I-95 northbound around 1:30 p.m. Monday in the city’s Port …
Nationwide Wants 19% Increase in Auto Rates in West Virginia
Nationwide Insurance is asking West Virginia regulators for a 19% average rate increase on auto liability insurance, a move that could affect more than 27,000 insured drivers. The West Virginia insurance commissioner said in a bulletin this week that written …
Brown & Brown Buys Citrus/CHAPP Agency in Florida
Brown & Brown Inc., the sprawling U.S. insurance brokerage based in Daytona Beach, has acquired Citrus Insurance and its affiliate, CHAPP Inc., which secures workers’ compensation coverage for citrus growers in Florida. CHAPP and Citrus have offices in Dundee, Florida. …
Severe Weather Spawns Tornado, Damage and One Death in South, Midwest
Thousands of homes and businesses were without power Tuesday as severe weather roared through several states, causing at least one death and spawning possible tornadoes. Parts of Ohio, Pennsylvania, Kentucky, Mississippi, Alabama, Tennessee, West Virginia, Virginia and Georgia were under …
Citigroup Urges Dismissal of New York’s ‘Misguided’ Lawsuit Over Online Scams
Citigroup on Tuesday urged a federal judge to dismiss New York Attorney General Letitia James’ lawsuit accusing its Citibank unit of failing to reimburse customers who fall victim to online scammers. While recognizing that the problem of online wire fraud …
Freight Railroads Must Keep 2-Person Crews Under New Federal Rule
Major freight railroads will have to maintain two-person crews on most routes under a new federal rule that was finalized Tuesday in a milestone in organized labor’s long fight to preserve the practice. The Transportation Department’s Federal Railroad Administration released …
Japanese Lens Maker Hoya Halts Production After Cyberattack
Japanese lens maker Hoya Corp. on Thursday said the production of several of its products have stopped after a system failure, which was “most likely caused by unauthorized access” to its servers. Hoya said the company discovered a system discrepancy …
Lack of Immunity Raises Risk of Bird Flu Pandemic: EU Food Safety Agency
The EU’s Food Safety Agency (EFSA) warned on Wednesday of a large-scale bird flu pandemic if the virus becomes transmissible between people as humans lack immunity against the virus. This comes a day after Texas reported that the H5N1 strain …
Colombia Insurers Fear Petro’s Takeover to Spark Health Crisis
President Gustavo Petro’s decision to take control of a top Colombian health insurer sets a dangerous precedent, according to the industry and patient associations. The South American nation’s health superintendent will run EPS Sanitas for one year after it failed …
Panama Canal Drought Could Threaten Global Supply Chains, S&P Says
The severe drought which has forced the Panama Canal, one of the world’s busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand, S&P Global said on Wednesday. The canal has imposed …
Markets/Coverages: AXA XL’s U.S. Mid-Market Insurance Business Expands GL Coverage
AXA XL’s U.S. Mid-Market insurance business is extending its general liability coverage for mid-sized businesses with its new XL Plus broadening endorsement, offering more than two dozen expanded protections. The XL Plus endorsement expands the scope and depth of coverage …
Howden Tiger to Rebrand as Howden Re
Howden Tiger, the global reinsurance arm of Howden, will rename as Howden Re, effective April 8, 2024. This strategic change follows Howden’s rebrand in October last year, which united its broking operations under one name. Today, with its reinsurance business …
Tech Update: Vertafore Delivers Policy Binding in its Personal Lines Rater; Amwins’ Online Marketplace Provides Bindable Quotes From Multiple Carriers
Vertafore Delivers Policy Binding in Personal Lines Rater Vertafore, headquartered in Denver, launched the industry’s first bind capability within a personal lines rater. Vertafore’s personal lines rating and quoting platform, PL Rating, enables independent agencies to quickly find and bind …
LSU Settles Case Involving Sexual Assault Allegations Against Football Players
BATON ROUGE, La. (AP) — LSU and 10 former students who sued the school over alleged mishandling of sexual assault and domestic violence complaints against football players and others at Louisiana’s flagship state university have settled the case. “The Court …
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