Insurance
‘Lockbit’ Digital Gang Named Top Ransomware Threat by US, 6 Other Nations
The United States and six other countries on Wednesday identified the digital extortion gang operating under the “Lockbit” banner as the world’s top ransomware threat. In a joint advisory, U.S., Canadian, British, French, German, Australian and New Zealand cyber authorities …
Read More Tennessee Insurance Consumers Get Back $7.4 Million So Far in 2023
The Tennessee Department of Commerce & Insurance is reporting that it has helped return more than $7.4 million to consumers so far in 2023 through its mediation and restitution efforts. TDCI said it is on trend to pass last year’s …
Read More Generali Agrees to Acquire Liberty Mutual’s European Units for $2.5 Billion
Assicurazioni Generali SpA has agreed to acquire a group of European businesses from US insurer Liberty Mutual Holding Co. for €2.3 billion ($2.5 billion). Liberty Mutual announced the sale of its Liberty Seguros subsidiary in a statement on Thursday that …
Read More Judge Gives Erie Insurance, Maryland Regulator 60 Days to Resolve Rift Over Bias, Document Disclosure
A judge has given Erie Insurance and the Maryland insurance regulator 60 days to settle their differences related to allegations that the insurer unfairly discriminated against Black insurance agents in the Baltimore area and that the regulator acted arbitrarily and …
Read More Allstate Announces May Catastrophe Losses, Auto Rate Hikes
Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but about 70% of losses were …
Read More Wisconsin Manufacturing Plant Faces $277K in Fines Over Employees’ Hand Injuries
The operator of a north central Wisconsin meat and sausage manufacturing plant might have spared two employees from suffering serious hand injuries by following required machine safety standards, a U.S. Department of Labor investigation found. Inspectors with the department’s Occupational …
Read More First MainStreet Adds Four Agencies in Iowa
First MainStreet Insurance L.C. (FMSI), an affiliate of TrueNorth Companies L.C., announced the addition of four new agencies. Lauer & Lauer Insurance, based in West Union, Iowa was FMSI’s first acquisition of 2023. Established in 1954 and led by fourth-generation …
Read More ALKEME Acquires Texas’ Daugherty Insurance Group
ALKEME announced the acquisition of the Daugherty Insurance Group, a Sugar Land, Texas- based full-service insurance agency. For over three decades, Daugherty Insurance Group has been focused on serving their loyal customers throughout Sugar Land and surrounding areas with a …
Read More Insurer Avoids Dog Bite Claim by Homeowner Selling Firearms Out of Garage
Nationwide General Insurance has avoided payment of a dog bite claim filed by a homeowner it insured who ran a firearms business out of his garage. A federal district court for Alabama ruled that the business exclusions in all three …
Read More Center for Insurance and Risk Management Opening in Nevada University
University of Nevada, Las Vegas announced the establishment of the Kerestesi Center for Insurance and Risk Management within the Lee Business School. The center, made possible through a $5 million gift from the Nevada Surplus Lines Foundation, will advance faculty …
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