Tech, Modeling Prove Value-Add to Broker-Client Relationships: McGill’s Karg
Due to the rapid evolution of artificial intelligence, data, and analytics, brokers are gaining the ability to treat the risk of each client separately, said Ashley Karg of McGill and Partners. “There’s more opportunity for brokers to embrace individualizing our …
Jury Trial Is There if Corporations Need it, Appeals Court Finds in WV Opioid Case
Corporations facing high-profile negligence lawsuits have been known to request a bench trial—held before a judge only and without the risks of plaintiffs’ lawyers playing on the emotions of a 12-person jury. But in West Virginia, the pharmacy benefits manager …
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI
The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates Progressive’s U.S. private …
Washington Commissioner Issued $167K in Fines in 2Q
A Yakima insurance agent and an unauthorized insurance company are barred from doing business in Washington after Insurance Commissioner Patty Kuderer issued cease-and-desist orders in April. Those were two enforcement actions during the first quarter in which Kuderer issued fines …
Volvo Group Agrees to $197M Settlement With California Over Excess Truck Emissions
Truckmaker Volvo Group on Monday agreed to a $197 million settlement with the California Air Resources Board over alleged violations of the state’s heavy-duty engine regulations. The settlement resolves allegations that Volvo failed to properly disclose auxiliary emission control devices …
Shipbuilder, Baltimore Officials Seize Upon Criminal Charges Against Dali Manager
The builder of the Dali cargo ship and Baltimore city officials are welcoming the U.S. government’s bringing of criminal charges against the ship’s manager for the deadly and costly collapse of the Francis Scott Key Bridge in 2024. Shipbuilder Hyundai …
FAA Admits Failure to Act on Warnings Before Jet-Copter Collision Killed 67 People
The head of the Federal Aviation Administration will tell Congress on Tuesday the agency failed to act on warnings prior to the January 2025 fatal collision between an American Airlines regional jet and an Army helicopter that killed 67 people …
Michigan Secures $108M Settlement With Monsanto for PCB Contamination
Michigan Attorney General Dana Nessel has secured a $108 million settlement with Monsanto Company (PDF), the major manufacturer of polychlorinated biphenyls (PCBs), and affiliated companies Solutia Inc. and Pharmacia LLC to address harms from PCB contamination in the State of …
Business Moves: Vienna Insurance Purchases Nuernberger; Liberty Mutual Raises Stake in India Unit; Aon’s NFP Buys Irish Private Wealth Specialist; Gallagher Buys UK Law Firm
During this month, two insurers and two brokers have announced acquisitions in India and Europe. Details of these deals follow. Vienna Insurance Group Completes Purchase of Germany’s Nuernberger Vienna Insurance Group (VIG) has completed its acquisition of Nuernberger Beteiligungs AG …
Maine Mourns 27-Year-Old Firefighter Killed in Lumber Mill Explosion
A 27-year-old firefighter killed in a huge fire and explosion at a lumber mill in Maine’s midcoast region was honored Saturday, a day after the incident that injured at least 11 others. A memorial of flowers dedicated to Andrew Cross …
Walmart to Pay $230K in Illinois Disability Hiring Discrimination Settlement
Walmart agreed to pay $230,000 and furnish other relief to settle a disability hiring discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s suit, a deaf applicant applied online for …
Oil Tankers Transiting Strait of Hormuz Since Start of Iran War
The U.S. has maintained a blockade of Iranian ports, while Iran lifted and then reimposed its own blockade on marine traffic passing through the Strait of Hormuz, which typically handles roughly one-fifth of the world’s oil supply. Here’s a look …
Allianz’s PIMCO, L&G Sued in Scrap Over €1.2 Billion Brussels Tower
PIMCO and Legal & General Group Plc have been accused of placing “undue pressure” on property valuers in a bitter scrap over the future of a famous Brussels skyscraper whose owner has collapsed into insolvency. The owner of The Finance …
Women’s Board Representation Slips Below 30% as Momentum Stalls
he share of women on the boards of mid-sized and large public companies dipped below 30% in the first quarter, missing that threshold for the first time since 2024, and down from a peak of 30.4% a year ago. In …
Lake Tahoe Power Crunch Shows AI’s Growing Energy Toll in West
Lake Tahoe has long been a refuge for Silicon Valley’s tech elite, from Mark Zuckerberg to Larry Ellison. Now the artificial intelligence boom behind much of that wealth is straining the region’s power market, pushing up costs for residents in …
Georgia Insurance Agent Kept Comp Premiums, Gave Fake COIs, Board Says
A Georgia insurance agent whose license expired a year ago has been charged with diverting workers’ compensation premiums from businesses and providing falsified certificates of insurance. Lucy Margarita Suarez, 33, of Dalton, Georgia, was arrested in Miami and returned to …
NH House Passes Self-Insurance for Childcare, Behavioral Health Businesses
On the last day to vote on bills, the New Hampshire House of Representatives passed a bill aimed at reducing liability insurance costs for care professionals. Senate Bill 614 establishes “multiple-caregiver self-insured risk coverage arrangements” for childcare, day care, foster …
Finland’s First Drone Scare Near Helsinki Disrupts Flights
Finland warned the public of drones possibly entering its airspace, for the first time near Helsinki, in the early hours of Friday. Flights were disrupted at the country’s biggest airport, Helsinki-Vantaa, and about 1.8 million residents of southern Finland were …
Stomach Bugs, Not Hantavirus, Are the Bigger Threat on Cruises
Stomach bugs on cruise ships recently hit a nearly two-decade high as more people than ever board the vessels, underscoring how easily viruses spread on contained voyages. While cruises are in a global spotlight after a rare hantavirus outbreak killed …
Iran’s Threats to Hormuz Undersea Cables Highlight Vulnerabilites of Data Chokepoints
Early this week, Iranian state-linked media floated a plan to charge the operators of undersea internet cables in the Strait of Hormuz for access to what they say is Iran’s offshore territory. The suggestion comes after Iranian warnings that several …
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Suscribirse a Fuente de noticias Insurance Journal