Family of Nigerian Businessman Killed in Helicopter Crash Sues Charter Company
The family of a Nigerian business leader who died in a Southern California helicopter crash that killed five others in February filed a lawsuit claiming the flight should have been grounded because of treacherous weather. Relatives of Abimbola Ogunbanjo, the …
Boston Agent Charged With Creating Fake Insurance Policies to Collect Commissions
A Boston man has been charged with a fraud scheme in which prosecutors say he collected about $45,000 in unearned sales commissions on insurance policies he created using personally identifiable information stolen from individuals. The state attorney general’s office announced …
Orion180 Launches Homeowners Insurance in Arizona
Orion180 is expanding its homeowners insurance services to Arizona under a push by the company into the Western U.S. Orion180 currently operates in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina and South Carolina through its two insurance carriers. The company …
Connecticut M&A Advisor Agrees to Pay $1.5M to Settle Data Breach Class Action
Merritt Healthcare Advisors, a Connecticut mergers and acquisitions (M&A) advisory firm for healthcare practices, has agreed to a $1.525 million settlement of a class action stemming from a 2022 data breach. The money will go into a fund to compensate …
Jury Rejects Sex Abuse Claims Against Virginia School System by Former Student
A jury on Wednesday rejected a woman’s lawsuit seeking tens of millions of dollars from Virginia’s largest school system over allegations that she was raped multiple times as a middle schooler. The woman, who was identified in court papers only …
3-Alarm House Fire Likely Caused by Oily Rags, Newton Fire Chief Says
A three-alarm fire in Newton, Massachusetts this week was most likely caused by the combustion of oily rags used during renovations on the unoccupied home, according to Newton Fire Chief Gregory J. Gentile. The Newton Fire Department responded to 8 …
Workers’ Comp Rating Bureau of California OKs Higher Pure Premium Rate Filing
The Workers’ Compensation Insurance Rating Bureau of California submitted its Sept. 1, 2024, pure premium rate filing to the California Department of Insurance, proposing advisory rates on average 0.9% above the average approved Sept. 1, 2023 rates. The proposed advisory …
Thames Water Debt Insurer Taps Advisers as Crisis Deepens
A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured …
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits
Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions. A …
Global Basel Committee Bolsters Rules for Supervising Banks, Non-Bank Sector
The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators …
Aon Completes $13B Acquisition of Middle-Market Broker NFP
Aon plc said late Thursday that it has completed its $13 billion acquisition of middle-market P/C broker NFP. The purchase price will be funded by $7 billion in cash and $6 billion of Aon stock. Closing was earlier than originally …
ALKEME Acquires Illinois’ Ralph Weiner & Associates
ALKEME announced the acquisition of Ralph Weiner & Associates, a retail insurance agency based in Wheeling, Illinois. Established in 1951, Ralph Weiner & Associates has earned acclaim for its specialized focus on the long-term health care facility space, fostering enduring …
New Jersey Forest Service Says 510-Acre Wharton Wildfire Is 100% Contained
The New Jersey Forest Fire Service said it has reached 100% containment of a 510-acre wildfire in the area of Jackson Rd. in Wharton State Forest. The fire burned in both Waterford Twp, Camden County and Shamong Twp, Burlington County. …
People Moves: XPT Specialty Expands with Industry Veteran
XPT Specialty, headquartered in New Haven, Connecticut, hired Jody Travis as vice president and senior underwriter in its Houston office. Travis has over 30 years of experience in the commercial sector. He most recently served as vice president and senior …
DHL to Pay $8.7M to Settle Race Discrimination Lawsuit in Illinois
Delivery company DHL will pay $8.7 million and be subject to the oversight of a court-appointed monitor to settle a class race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC charged …
‘It’s in the Mail’ Is Not Good Enough to Protest Workers’ Compensation Claim
A Connecticut employer lost its right to contest a workers’ compensation claim because although it mailed its notice to the workers’ compensation law judge within the 28 day statutory period, the judge did not receive the notice by the 28th …
People Moves: Zurich NA Names Higginbotham Head of Pro Liability & Cyber; FM Global CEO Appointed Board Chair; WTW Names Lombardo Named Chair of REHL Division
Zurich NA Names Higginbotham Head of Professional Liability & Cyber Zurich North America, headquartered in Schaumburg, Illinois, has named Kara Higginbotham as head of professional liability and cyber for U.S. national accounts, leading a team of underwriters who serve Zurich’s …
Global Insurers’ Climate Alliance Relaunches After Member Exodus
A global insurance coalition intended to help curb the sector’s greenhouse gas emissions has relaunched with a new name and weaker membership requirements in response to companies fleeing over allegations of collusion by Republican politicians in the United States. The …
People Moves: Lockton Promotes 2 in Crisis Management Team, Announces Changes in Norway Leadership
Lockton, the independent insurance broker, announced two key senior promotions within its Crisis Management team in London. Helen Sandford has been appointed as head of Special Crime, and Freddie Schlesinger has been appointed head of Product Recall and Reputational Risk, …
Markets/Coverages: Ariel Re and Hiscox Re & ILS Launch Cyber Catastrophe Consortium
Re/insurer Ariel Re and Hiscox Re & ILS, the reinsurance and insurance linked securities arm of insurer Hiscox, announced the launch of CyberShock, a cyber catastrophe consortium. The CyberShock consortium is designed to offer up to US$50 million of per-program …
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