May 25, 2022

Wed, 25 May 2022 17:20:52 +0000
AXA XL has named Libby Benet to the role of global chief underwriting officer (GCUO), succeeding Nancy Bewlay, who recently assumed leadership of AXA XL’s global reinsurance operation. According to AXA XL CEO Scott Gunter, “Given the GCUO’s responsibil...
Wed, 25 May 2022 16:48:37 +0000
Texas Attorney General Ken Paxton announced a $19.2 million multistate settlement with Ford Motor Company, with Texas receiving a $1.7 million share of that amount. The settlement between 40 attorneys general and Ford concludes an investigation into th...
Wed, 25 May 2022 16:40:37 +0000
Provaznik Insurance Agency recently joined Valley Insurance Agency Alliance (VIAA), a family of nearly 150 independent insurance agencies in Missouri and Illinois. St. Louis, Missouri-based Provaznik Insurance Agency was founded in 2014 by Scott Provaz...
Wed, 25 May 2022 16:33:53 +0000
Three tornadoes, one of which toppled a church steeple at the Indiana National Guard’s Camp Atterbury, hit parts of central and south-central Indiana on Saturday as a wave of severe thunderstorms swept across the state, the National Weather Service sai...
Wed, 25 May 2022 15:47:47 +0000
Verisk said it appointed Lee M. Shavel to CEO and Mark V. Anquillare to president following the company’s annual shareholder meeting. Shavel was also elected to the Verisk Board of Directors. Three new independent directors, nominated by the company, w...
Wed, 25 May 2022 15:42:45 +0000
A three-day comment period opened Tuesday for a proposed group housing site for Hurricane Ida survivors in one southeast Louisiana parish, the Federal Emergency Management Agency said. Up to 75 families could be housed at the site in the St. …
Wed, 25 May 2022 15:36:28 +0000
An explosion occurred in a slag pit in northwestern Indiana May 22. The blast at Lafarge North America in East Chicago Sunday afternoon was at a contractor’s facility at a mill that turns slag into cement, the (Northwest Indiana) Times …
Wed, 25 May 2022 15:32:24 +0000
After an uproar from conservative groups, State Farm Insurance has dropped its support of a group that said it was battling misinformed opinions on transgender youth. “We support organizations that provide resources for parents to have conversations ab...
Wed, 25 May 2022 15:26:52 +0000
The U.S. Securities and Exchange Commission (SEC) on Wednesday will propose rule changes aimed at stamping out unfounded claims by funds on their environmental, social and corporate governance (ESG) credentials, and enforcing more standardization of su...
Wed, 25 May 2022 15:18:34 +0000
The Hilb Group said it has acquired a book of commercial property/casualty insurance and surety bond business in its tri-state region of operations. The company said that the seller, Scott Kuzmic, a commercial property/casualty and surety producer, wil...
Wed, 25 May 2022 14:52:42 +0000
After addressing Florida’s insurance crisis, lawmakers on Tuesday quickly approved another piece of legislation they did not get to during the regular session in March – a revamp of condominium laws that would require more frequent inspections, more ...
Wed, 25 May 2022 14:34:34 +0000
The largest wildfire in North America slowed to a near standstill in northern New Mexico Tuesday amid light rain and a bit of snow in the mountains as nearly 3,000 firefighters scrambled to get ahead of a worsening fire forecast …
Wed, 25 May 2022 14:31:01 +0000
California could soon hold social media companies responsible for harming children who have become addicted to their products, permitting parents to sue platforms like Instagram and TikTok for up to $25,000 per violation under a bill that passed the st...
Wed, 25 May 2022 14:02:30 +0000
A Florida House committee and the state Senate wasted little time Tuesday in approving sweeping property insurance bills, leaving only the full House of Representatives to cement the changes on Wednesday, which would likely ending the special session t...
Wed, 25 May 2022 13:45:08 +0000
Glencore Plc said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation, as authorities in the United States, Britain and Brazil announced that three of the company’s subsidiaries were pleading gui...
Wed, 25 May 2022 12:57:30 +0000
To describe the past couple of years as tumultuous is something of an understatement. The global pandemic overlaid with hard market conditions in many insurance classes has kept many in our industry awake at night. The pandemic undoubtedly helped accel...
Wed, 25 May 2022 12:32:26 +0000
This edition of International People Moves details appointments at AXA XL, Howden and MS Amlin. A summary of these new hires follows here. AXA XL Names Benet Global Chief Underwriting Officer, Succeeding Bewlay AXA XL has named Libby Benet to …
Wed, 25 May 2022 12:00:18 +0000
A specific type of cyber threat has made its way to the front of the conversation in the wake of the Russia-Ukraine conflict, and experts say it could play an increasing role in global conflicts even beyond what’s happening in …
Wed, 25 May 2022 07:59:21 +0000
J.D. Power found in a recent survey that auto insurance customer satisfaction with price has plummeted, driving a surge in policy shopping activity while dragging on the purchase experience index. “A perfect storm of record-high replacement costs, incr...
Wed, 25 May 2022 11:51:16 +0000
Exxon Mobil Corp. has lost another round in its fight to stop states from pursuing claims that it has deceived investors and the public regarding its products and climate change. The Massachusetts Supreme Judicial Court has affirmed a trial court …
Wed, 25 May 2022 11:31:00 +0000
HDI International AG, a subsidiary of Talanx Group, is acquiring the retail business of Sompo Seguros S.A. in Brazil. This acquisition enables HDI Seguros S.A. in Brazil to gain scale in motor and to diversify into non-motor property/casualty and life …
Wed, 25 May 2022 10:03:56 +0000
Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sh...
Wed, 25 May 2022 08:35:48 +0000
China’s ruling Communist Party has expelled a former chief accountant of state-controlled PICC Property and Casualty Co. from the party, accusing him of illegal activities and taking bribes, the anti-graft watchdog said on Wednesday. The Central Commis...
Wed, 25 May 2022 08:19:28 +0000
Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western underwriters. …
Wed, 25 May 2022 07:49:10 +0000
India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three people aware of the matter told Reuters. Fou...
Wed, 25 May 2022 05:30:40 +0000
Ford Motor Co. will pay $19.2 million to resolve allegations it falsely advertised real-world fuel economy and payload capacity for some hybrids and pickup trucks, the Iowa Attorney General’s Office said on Tuesday. The multi-state settlement covers 20...
Wed, 25 May 2022 05:00:50 +0000
New York City has agreed to pay $7 million to a man who spent 23 years behind bars for a murder he didn’t commit, Comptroller Brad Lander said Monday. Grant Williams was exonerated last July in the 1996 shooting of …
Wed, 25 May 2022 05:00:42 +0000
Arthur J. Gallagher & Co. acquired Menlo Park, California-based Valerie Frederickson & Company Inc., dba Frederickson Partners. Founder Valerie Frederickson and her team will continue to operate under the direction of Scott Hamilton, global managing di...
Wed, 25 May 2022 05:00:28 +0000
Traffic at the Port Authority of New York and New Jersey’s bridges and tunnels has returned to pre-pandemic levels, partly due to changes in traveling habits, the agency’s Executive Director Rick Cotton said. “At the bridges and tunnels, the volumes …
Wed, 25 May 2022 05:00:19 +0000
Tesla Inc. must keep defending itself in open court against claims that female employees face “rampant sexual harassment” in its largest California factory, a California judge ruled, spurning the company’s request for closed-door arbitration. Alameda C...