Cape Coral Says FEMA Giving More Time on Questioned Rebuilding Info After Ian
The Federal Emergency Management Agency has granted the city of Cape Coral a 30-day extension to provide more information on rebuilding in the area after Hurricane Ian. The announcement came Monday, three weeks after FEMA notified local officials in southwest …
New York AG, Trump Attorneys Agree to Changes in $175M Bond in Civil Fraud Case
Lawyers for former President Donald Trump and the New York attorney general on Monday agreed to changes in the terms of the $175 million surety bond Trump secured with Knight Specialty Insurance Co. (KSIC). Attorney General Letitia James had objected …
Wildfires in Canada’s Oil Sands Region Prompts Evacuation Orders
Wildfires erupted across Canada’s main oil producing province of Alberta and an evacuation order was issued as the region braces for a repeat of last year’s unprecedented season. Members of the indigenous first nation community of Cold Lake Number 149, …
OPTIS: Insurance Agency M&A Down 18% in Q1 2024
The first quarter of 2024 was the slowest for insurance agency mergers and acquisitions since the middle of the pandemic, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A database counted 155 announced insurance agency mergers and …
Savannah Ordinance: Vehicles Should be Locked When Guns Left Inside
SAVANNAH, Ga. (AP) — Coastal Georgia’s largest city will require guns left in empty vehicles be securely stored, an effort that Savannah Mayor Van Johnson says is meant to cut down on gun thefts from unlocked cars. “We are not …
South Carolina Allows Out-of-State Adjusters After Massive Hail Storm
In the wake of last week’s widespread hail storm that damaged homes and automobiles, the South Carolina director of insurance said that emergency rules allow out-of-state adjusters and appraisers to work claims, as long as they are licensed in other …
W.R. Berkley Reports 50.4% Increase in Q1 Net Income
First quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million. The Greenwich, Connecticut-based commercial insurer started 2024 …
Delaware High Court Hands Agency a New Shot at Malpractice Claim Against Law Firm
A Delaware insurance agency has won another chance at proving a law firm was negligent in defending it in a non-compete dispute with another agency, a dispute it ended up settling for $1.2 million. The Delaware Supreme Court has reversed …
Munich Re Says Beating Target More Likely After Strong Quarter
Munich Re said it might beat its profit target for the year after first-quarter profit jumped amid benign expenditures to cover major losses and a strong investment result. Net income rose to about €2.1 billion ($2.2 billion) in the three …
Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance
Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first, building-specific, sensor-based, parametric earthquake re/insurance product to clients globally. …
Musk Decries Australian Court ‘Censorship’ of Terror Posts on X
Elon Musk lashed out at Australia’s prime minister on Tuesday after a court ordered his social media company X take down footage of an alleged terrorist attack in Sydney, and said the ruling meant any country could control “the entire …
Oklahoma Bus Driver Crashes Into Building After Being Punched by Passenger
OKLAHOMA CITY (AP) — A man was arrested after being accused of punching an Oklahoma City bus driver and causing the bus to crash into a building. Oklahoma City police reported only minor injuries stemming from the Saturday wreck. Authorities …
Dubai Floods Expose Weaknesses to a Rapidly Changing Climate
The heavy rains that flooded Dubai last week halted air traffic, damaged buildings and streets — and left climate experts and common citizens asking whether one of the world’s hottest and driest cities should be better prepared for extreme storms. …
Republicans Weigh Rolling Back Anti-ESG Law They Passed
Lawmakers in Oklahoma are having second thoughts about anti-ESG legislation that limits which Wall Street banks local governments can do business with. A Republican-introduced bill that would narrow the scope of a state law that blacklisted financial firms for their …
Arthur J. Gallagher & Co. Acquires Australia’s Prasidium Credit Insurance
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced the acquisition of Australia’s Prasidium Credit Insurance. Terms of the transaction were not disclosed. North Sydney-based Prasidium is a specialist trade credit insurance broker serving clients throughout Australia. Mark …
Grindr Sued in UK for Allegedly Sharing Users’ HIV Data With Ad Firms
Grindr Inc. was sued by users for sharing sensitive personal information, including their HIV status, with advertising companies in a London lawsuit. The LGBTQ+ app allegedly shared information to third parties for commercial purposes without the users’ consent, which included …
Sanofi to Pay $100 Million to Settle Zantac Cancer Lawsuits
Sanofi will pay more than $100 million to settle about 4,000 lawsuits accusing the French drugmaker of failing to warn users that its Zantac heartburn medicine could cause cancer, according to people familiar with the deal. The settlement was announced …
Poll: Climate Change Concerns Grow, but Few Believe Biden’s Climate Law Will Help
A poll from the Associated Press-NORC Center for Public Affairs Research shows 45% of U.S. adults say they have become more concerned about climate change over the past year (six-in-10 Democrats and one-quarter of Republicans). However, the poll shows now …
Chubb to Acquire MGA Healthy Paws From Aon
Chubb said it is acquiring managing general agent Healthy Paws from Aon plc. Whitehouse Station, New Jersey-based Chubb has been the exclusive underwriter of Healthy Paws’ pet insurance program for Aon since 2013. Terms of the deal, expected to close …
Investment Funds File New Suits Over Lighthouse Insurance Collapse in 2022
Three investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known …
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