Third Point’s Dan Loeb Wins Vote to Turn London-Listed Fund Into Reinsurer
Dan Loeb has won a vote to turn his UK investment trust into a life and annuity reinsurance company, defying a fierce backlash from some shareholders. A majority of investors backed a plan for London-listed Third Point Investors to acquire …
Rising La Niña Odds Point to More Hurricanes in the Atlantic
The world may be about to shift into a La Niña weather pattern, a development that would increase the risk of storms in the Atlantic as the height of hurricane season approaches there. Forecasters at the US Climate Prediction Center …
Florida Peninsula Files for 8.4% Cut in HO Rates, 12% Drop in Condo Owners’
Florida Peninsula Insurance Co., the ninth-largest property insurance carrier in the state with some 189,000 policies in force, announced it had filed for some of the largest rate decreases since landmark legislative changes were enacted two years ago. The Sarasota-based …
Son Cashed Mom’s Workers’ Compensation Checks After She Died
A Port Jervis, New York man recently entered a guilty plea to charges he collected more than $42,000 in workers’ compensation benefits issued to his deceased mother. New York State Inspector General Lucy Lang announced the July 31 guilty plea …
Brightstone Specialty Acquires RMS Hospitality and Fortis Risk
Michigan-based Brightstone Specialty Group announced its acquisition of RMS Hospitality Group and its affiliated claims firm, Fortis Risk Solutions, from RMS Insurance Brokerage, LLC. The acquisitions expand Brightstone’s presence in the franchise food, hospitality and restaurant sectors. RMS Hospitality Group …
Philadelphia Police Officer Wins Delayed Workers’ Compensation Claim for PTSD
A Philadelphia police officer who was severely beaten by a robbery suspect in 2017 has won his right to add a psychological injury to his already settled workers’ compensation claim for physical injuries suffered in the incident. The officer’s employer, …
NFL Appealing Nevada High Court Ruling Allowing Gruden’s Lawsuit to Proceed
The NFL will appeal the Nevada Supreme Court’s ruling that former Las Vegas Raiders coach Jon Gruden can proceed with his lawsuit and not go through the league for arbitration. The league will request a rehearing from the same court …
3 Firefighters Hurt as Fire Burned Historic Buildings in Salt Lake City Nightlife Hub
A blaze that started in a restaurant kitchen injured three firefighters and scorched century-old buildings in Salt Lake City’s nightlife hub, officials said. Firefighters were dispatched to a cooking fire at the London Belle Supper Club on Monday night and …
Texas Crime Labs Say They Need More Resources for a THC Ban
As Texas lawmakers debate whether to regulate or ban THC products, officials with the state’s crime labs say they don’t have the resources currently to enforce whatever law is passed. “From a crime lab perspective, mercifully, we don’t have a …
Milwaukee Area Recovers From Record Rain and Flooding
The Milwaukee area began drying out Monday after weekend rain hit unofficial records in Wisconsin of more than 14 inches (36 centimeters) in less than 24 hours, leading multiple rivers to flood at record-high levels, washing out vehicles, flooding basements …
Union Pacific Train Cars Derail Near Texas Town, No Injuries Reported
Thirty-five cars of a Union Pacific train derailed Tuesday afternoon near a small Texas town, officials said. No injuries were reported and no evacuations have been ordered following the afternoon derailment, Union Pacific spokeswoman Robynn Tysver said. News footage showed …
Michigan Man to Stand Trial for Insurance Fraud
A Michigan financial advisor will stand trial for insurance fraud after waiving preliminary examination, Attorney General Dana Nessel announced this week. Todd Bernstein, 67, of Birmingham, is alleged to have submitted misleading information on annuity suitability applications on behalf of …
Black Hills, South Dakota Region Faces Severe Water Shortages
Water levels in this major source of drinking water for Rapid City were so low this spring that city leaders implemented water-use restrictions weeks earlier than normal and the state delayed installation of public boat docks. Lingering drought conditions and …
Along Texas’ Guadalupe River, Several Summer Camps Are in Flood Zones
The all-girls Christian summer camp where 27 people, most of them children, were swept away and killed by the July 4 flooding in Kerr County was just one of 13 summer camps along the Guadalupe River built on land prone …
RPS: Cyber Market Flush With Capacity as Buyers Get More Limit, Low Premium
Cyber insurance remains an area of growth opportunity for property and casualty insurers, particularly in the face of large-scale risk factors. According to a new report, “CYBER: Insights on the current and future state of the US cyber insurance market” …
Shadow Tanker Fleet Grows More Slowly as Western Sanctions Target Russian Oil
Dozens of tankers have joined the shadow fleet this year compared with hundreds in previous years as the harshest Western sanctions yet target Russia’s oil exports and add to the difficulty of finding suitable vessels, shipping sources said. The European …
World Insurance Acquires Texas’ Abacus
World Insurance Associates LLC announced that it acquired the business of Abacus Insurance and Financial Services of Irving, Texas on April 1, 2025. Terms of the transaction were not disclosed. Abacus provides primarily commercial lines insurance to their clients, with …
People Moves: Alliant on the Money with Assistant VP; InterCoastal PAs Add Blinn
Specialty broker Alliant Insurance Services has named Steven Money assistant vice president in its employee benefits group, based in Atlanta. Money has more than 20 years’ experience in the industry, with brokers and carriers, the California-based Alliant said in a …
People Moves: Aon Promotes Shukri as UK Reinsurance Client Services Leader; Blenheim Underwriting Taps Stratton-Thomsett From MS Amlin as Casualty Underwriter
This edition of International People Moves details appointments at the broker Aon and the Lloyd’s managing agent Blenheim Underwriting. A summary of these new hires follows here. Aon Promotes Shukri as UK Reinsurance Client Services Leader Insurance broker Aon plc …
Greystar Reaches Deal in Justice Department’s Rental Market Collusion Case
Greystar Real Estate Partners LLC reached a tentative settlement with the Department of Justice in an antitrust lawsuit accusing the landlord of colluding to increase rents across the US, in part, through widely used industry software. As part of the …
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