Insurance
Arthur J. Gallagher & Co. Acquires London-Based Simply-Communicate Ltd.
Arthur J. Gallagher & Co. announced the acquisition of London-based The Wright Agency Ltd., doing business as Simply-Communicate Ltd. Terms of the transaction were not disclosed. Simply is a workplace communication agency providing consulting services and digital solutions to enhance …
Read More Canadian Insurer Fairfax Denies Allegations of Asset Value Manipulation
Fairfax Financial on Monday denied allegations by Muddy Waters Research that the Canadian insurer was manipulating asset values, saying the short-seller’s report was “false and misleading.” The detailed counter comes days after the company’s brief initial response to the report …
Read More SiriusPoint Enters Strategic Partnership With MGU Ryan Specialty Nordics
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Stockholm-based managing general underwriter Ryan Specialty Nordics AB, have announced a new strategic trading partnership. SiriusPoint will support Ryan Specialty Nordics as it offers insurance coverage for onshore windfarms, primarily in …
Read More Tankers Tied to the Russian Oil Trade Grind to Halt Following US Sanctions
A chunk of the vast fleet of tankers that Russia uses to deliver its crude oil is grinding to a halt under the weight of US sanctions, a sign that tougher measures by western regulators might be starting to have …
Read More Iceland Plans to Buy Out Homeowners in Volcano-Struck Town
Iceland’s government has agreed to buy all residential properties in the fishing town of Grindavik, which has become uninhabitable after three volcanic eruptions rocked the region in the last two months. Grindavik has been subject to repeated seismic activity since …
Read More Build-A-Bear, Maker of Warren Buffett’s Squishmallows Face Off in Court
Warren Buffett is taking on Build-A-Bear. Jazwares, the Berkshire Hathaway-owned maker of the popular Squishmallows plush toys, sued Build-A-Bear Workshop on Monday, calling its new Skoosherz plush toy line “knockoffs” that infringed its intellectual property rights. Not to be outdone, …
Read More What’s to Come in 2024: AI Expansion, More Catastrophes, Network Consolidation
No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal magazine asked industry thought leaders their predictions for the property/casualty world in 2024 and …
Read More Castle Key’s 54% Condo Rate Hike Gets Hearing, Showing New Pressures in Florida
The Florida Office of Insurance Regulation next week will hold hearings on two property insurers’ requests for 54% average rate increases, one of which has already affected more than 105,000 condominium unit owners. Castle Key Indemnity Co., one of Allstate …
Read More People Moves: Burnham Benefits Names Foderaro Managing Director; Mercury Insurance Names Zhang Chief Data Analytics Officer
Burnham Benefits Names Foderaro Managing Director Burnham Benefits Insurance Services, headquartered in Irvine, California, named William Foderaro as managing director. Foderaro has more than 20 years of experience in the employee benefits industry. He was most recently managing director at …
Read More OSHA Seeks $1M Penalty for New Jersey Contractor Added to ‘Severe Violator’ List
The federal Occupational Safety and Health Administration (OSHA) has cited a New Jersey contractor for again exposing workers to fall hazards, this time while working at a construction site in Franklin Lakes, New Jersey. OSHA said it has inspected Adrian …
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