Insurance
DOXA Acquires Georgia-based Preferred Aviation MGA
DOXA Insurance Holdings, an Indiana firm, has expanded its stable of distribution companies with the recent acquisition of Georgia-based Preferred Aviation Underwriters, a managing general agent. PAU, headquartered in Duluth, Georgia, was founded in 2005 by pilots and industry veterans …
Read More Las Vegas Lawyer Indicted in $460M ‘Slip-and-Fall’ Scheme
A longtime Las Vegas attorney was indicted on federal charges that he orchestrated a $460 million Ponzi scheme spanning multiple states, from Nevada and Utah to California and Arizona. The eight-count indictment accusing Matthew Wade Beasley of wire fraud and …
Read More JPMorgan May Face Expanded Lawsuit Over Jeffrey Epstein Ties
The U.S. Virgin Islands wants to expand its lawsuit accusing JPMorgan Chase & Co of aiding in Jeffrey Epstein’s sex trafficking in girls and young women, adding a new obstruction charge and a claim that bank executives joked about the …
Read More Train Carrying Iron Ore Derailed in California’s Mojave Desert
A freight train carrying iron ore derailed in a remote area of the Mojave Desert but there were no injuries, authorities said. The San Bernardino County Fire Protection District said in a tweet that “numerous” cars derailed. “No current threat …
Read More Viewpoint: Whither War and Cyber Operation Exclusions?
The insurance industry is attempting to modernize war exclusions to address the 21st century risk of state-sponsored cyber operations. It has proven to be a challenging project. Many current war exclusions date back to the 1930s. They arise from the …
Read More Is a Scooter a Vehicle? Appeals Court says ‘Yes’ and State Farm Must Pay UM Claim
State Farm must pay an uninsured motorist claim for injuries caused by an electric motor scooter even though the scooter didn’t match the definition of “motor vehicle” in Florida statutes, a panel of the 11th Circuit Court of Appeals ruled …
Read More Markets/Coverages: Cyber MGA Astaara Expands Capacity Limit to $25 Million
Astaara, the Guernsey-based managing general agent and risk management advisory business, has increased its underwriting capacity and insurance limit from US$12.5 million in 2020 to US$25 million with effect from April 1. Astaara’s cyber insurance covers ports and terminals, as …
Read More Ardonagh Advisory Acquires UK Broker Pace Ward
Ardonagh Advisory, the London-based SME broking platform, announced the acquisition of Pace Ward, a UK-based local broker that provides national coverage for large commercial clients, prestige and high-performance cars, and high net worth clients. Financial details of the transaction were …
Read More Virginia Teacher Shot by 6-Year Old Sues School Officials for $40 Million
A first-grade Virginia teacher who was shot and seriously wounded by her 6-year-old student filed a lawsuit Monday seeking $40 million in damages from school officials, accusing them of gross negligence for allegedly ignoring multiple warnings on the day of …
Read More R&Q Weighs Separation of Program Management and Legacy Insurance Businesses
R&Q Insurance Holdings Ltd., the non-life global specialty insurance company that focuses on program management and legacy insurance businesses, announced that the board of R&Q is reviewing strategic options to separate these businesses. R&Q said its Program Management business, Accredited, …
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