Insurance
P/C Insurers Responsible for Nearly 7,000 Layoffs in 2023
U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs, said the authors of the report, Tyler Hammel and …
Read More Japan Adds Rescuers as Death Toll From Jan. 1 Quake Rises to 64
The death toll in the wake of the Jan. 1 earthquake off Japan’s northwest coast rose above 60 as the government doubled the number of personnel dispatched to the affected areas to bolster rescue operations. The number of reported fatalities …
Read More People Moves: Church Mutual Promotes Ogilvie to CEO; World Insurance Associates Hires Klien as EVP; Amwins Appoints Armijo President of Amwins Underwriting
Church Mutual Insurance Company, S.I. promoted Alan S. Ogilvie from president to president and chief executive officer, effective Jan. 1, 2024. Ogilvie assumed the role from Rich Poirier, who has retired after 12 years of service to the company. Ogilvie …
Read More McKinsey to Pay $78 Million to Settle Opioid Claims by Insurers
McKinsey & Co. is poised to pay $78 million to health insurers and company benefit plans, in its latest settlement of lawsuits over its role advising opioid makers in their sales of the painkillers. The proposed accord, filed in federal …
Read More Army Corps Approves Massive Beach Renourishment for Jacksonville Area
The U.S. Army Corps of Engineers has given approval to a $32 million plan to renourish much of the critically eroded beaches near Jacksonville, a project that could throw a lifeline to tourism and insured properties in the area. The …
Read More Man Charged After 2 Killed in Alabama Police Chase
VALLEY, Ala. (AP) — A man faces murder charges after two people were killed in a head-on collision during a police chase, state law enforcement officials said Friday. The fatal crash occurred Thursday morning in Valley, a small city near …
Read More New York City Parkway Crash Takes 5 Lives
Five people died when the car they were in crashed on a New York City parkway Monday morning, police said. The Mazda was heading north on the Cross Island Parkway in the borough of Queens when it collided with another …
Read More People Moves: SES Risk Solutions in California Names Shenouda President
SES Risk Solutions, headquartered in Irvine, Calif., named Shaun Shenouda president. Shenouda takes over the role from Bill Mecklenburg, who recently assumed leadership of Alliant Underwriting Solutions as senior managing director. Shenouda previously served as chief operating officer of SES. …
Read More New York City Woke to Early Morning Tremor
The U.S. Geological Survey (USGS) reported that a small 1.7 magnitude tremor occurred near the Astoria, Queens area of New York at about 5:45 a.m. on Tuesday January 2. The epicenter of the quake was about a half mile from …
Read More Louisiana Workers’ Comp Rates to Fall by 9% in 2024
Louisiana Insurance Commissioner Jim Donelon has approved a 9% reduction in workers’ compensation rates for 2024. The decrease will take effect in May 2024. Louisiana has seen workers’ compensation rates fall over the last two decades. Rates have had a …
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