Italy Plans to Get €11 Billion From Banks, Insurers in 3 Years
Italy’s government coalition has reached an agreement over a complex scheme that would see banks and insurers contributing about €11 billion ($12.8 billion) to its budget over three years. The contribution affecting the financial and insurance sector would be worth …
Vienna Insurance Group Offers to Buy Germany’s Nuernberger Beteiligungs for $1.61B
Vienna Insurance Group (VIG) said late on Thursday that it will acquire all shares of German insurer Nuernberger Beteiligungs AG for 1.38 billion euros ($1.61 billion) in cash. VIG will offer Nuernberger shareholders 120 euros per share, the insurer said …
Can a More Unified Front Be Formed Against Legal System Abuse?
To tell the public what it spends on insurance—an amount largely effected by what it calls legal system abuse—Uber has started to provide information on customers’ receipts. “To give you a sense of how bad the problem has gotten in …
People Moves: Howden US Appoints Clark to Lead Private Risk Solutions; Krupowicz Named Head of Operations
Insurance broker Howden US has appointed Joe Clark as president and Dale Krupowicz as head of operations for its private risk solutions business in the U.S. Clark and Krupowicz will lead the development of Howden’s U.S. private client operations – …
Chinese Freighter Halves EU Delivery Time on Maiden Arctic Voyage to UK
A Chinese container ship has completed a pioneering journey through the Arctic to a UK port, state-run news agency Xinhua reported, cutting in half the usual transit time for the electric vehicles and solar panels aboard destined for Europe. The …
Former NFL Players, Country Singer Lend Names to Georgia-Based Concierge Launch
Two former professional football players, a country music artist and a college athletics administrator have put their names, images and likenesses behind a new, concierge insurance program for high net-worth individuals, athletes, entertainers and businesses. “There were times during my …
Gaps in Awareness of HO Coverage Provides Opportunity for Agents: Survey
Many U.S. homeowners are missing important insurance protections, offering opportunities for agents to educate insureds on increasingly essential coverages. A new survey commissioned by The Hanover Insurance Group found many homeowners are exposed to growing risks, such as lawsuits, cybercrime …
AI-Powered Home Insurance Startup Expands in Risky Florida Market
Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners. The company targets insurance markets deemed risky, with policies covering properties valued at a total of $1 billion in wildfire-prone …
15 States Launch Alliance to Bolster Coordination on Public Health
A coalition of 15 U.S. state governors representing more than a third of the country’s population has launched a new bipartisan alliance on Wednesday, aimed at improving public health coordination and emergency preparedness. The Governors Public Health Alliance will serve …
Health Net Settles With California Attorney General for $40M for Misleading Consumers
A healthcare company has settled with California Attorney General Rob Bonta for $40 million over information Bonta said was misleading consumers. Bonta announced a settlement with HealthNet LLC, Health Net of California Inc., California Health and Wellness Plan and Health …
ALKEME Acquires Maryland’s Gorges & Co.
National broker ALKEME Insurance reports it has acquired Gorges & Company, Inc., a full-service agency based in Timonium, Maryland. Founded in 1937, Gorges & Co. provides a full suite of insurance offerings, including employee benefits, business and personal property/casualty, nonprofit …
New Hampshire Supreme Court: Law Erasing Limit on Abuse Claims Is Not Retroactive
A 2020 Granite State law removing the statute of limitations for sexual abuse claims is not retroactive, the New Hampshire Supreme Court has ruled. The state’s high court found that applying the 2020 law retroactively violates the state’s constitution which …
LA County Officials Approved Emergency Declaration Over Immigration Raids
Los Angeles County officials voted this week to declare a state of emergency that gives them power to provide assistance for residents they say have suffered financially from ongoing federal immigration raids. The move allows the L.A. County Board of …
People Moves: Plymouth Rock Agency Marketing Adds Foxx; Fast Joins Alliant in Maine
Plymouth Rock Names Foxx Chief of Agency Marketing for Mass. and NH Plymouth Rock Assurance, headquartered in Boston, Massachusetts, appointed James Foxx as chief of agency marketing for Massachusetts and New Hampshire within the company’s independent agency group. Foxx oversees …
TDI Drafts New Rule Requiring Appraisal Provision in Auto and Homeowners Policies
The Texas Department of Insurance recently published an informal draft of rules that would implement a new law requiring all personal auto and residential property insurance policies to include a binding appraisal provision. The draft outlines appraisal timelines, appraiser and …
Marsh McLennan Reports 4% Organic Revenue Growth, Down From Q3 2024
Marsh McLennan reports consolidated revenue during the third quarter of $6.4 billion, an increase of 11% over Q3 2024, or 4% on an underlying (organic) basis, down from 5% during Q3 2024. John Doyle, president and CEO, described the Q3 …
Storm System Threatens Central and Southern US With Hail and Damaging Winds
As many as 22 states face the risk for severe thunderstorms, hail and damaging wind gusts over the next several days, meteorologists say. A front over the Central/Southern Rockies is expected to move northeastward, producing showers and thunderstorms over parts …
NAMIC to Federal Lawmakers: Do Your Job on Flood Insurance Program
Two weeks into the expiration of the National Flood Insurance Program, one of the insurance industry’s trade associations is once again calling for a reauthorization. The National Association of Mutual Insurance Companies (NAMIC) on Oct. 16 issued a statement directed …
Texas Legislature Forms Committees to Investigate July Deadly Floods
Top Republicans in the Texas Legislature have announced the creation of committees tasked with “getting to the bottom of” the July flooding that killed more than 130 people, including 25 young girls and two teenage counselors at Camp Mystic. Lt. …
Trump Withholding $40.6M From California Over Truck Driver English Rules
The Trump administration said Wednesday it is withholding $40.6 million from California in federal transportation funding for failing to comply with truck driver English proficiency rules. The U.S. Transportation Department had warned California, Washington state, and New Mexico in August …