Insurance
Viewpoint: Wildfires Should be California’s No. 1 Priority When it Comes to Climate Change
In an Executive Order dated September 25, California Gov. Gavin Newsom directed all agencies of state government to double down on their efforts to address climate change. The governor, state agencies and the Legislature are spending billions of dollars in …
Read More Missed Deadline Costs Harvard $15M in Insurance for Admissions Policy Defense
Harvard University’s failure to notify its insurer by the policy deadline has cost it up to $15 million in insurance coverage to help it defray costs related to its ongoing defense of its affirmative action admissions program. U.S. District Judge …
Read More Lloyd’s Insurer Ascot Resumes Quoting Cargo Insurance for Black Sea Grain Shipments
Lloyd’s of London insurer Ascot is once again quoting on its cargo insurance facility for the Black Sea grain corridor, the facility’s lead underwriter said on Wednesday after Russia announced it would resume its participation in the accord. “In response …
Read More Alliant Acquires New Jersey’s Trivedi Capacity Associates and Risk Purchasing Group
Alliant Insurance Services has acquired New Jersey-based Trivedi Capacity Associates, further expanding its reach in the community association and condominium association underwriting space. Central to the acquisition is Trivedi’s HARP risk purchasing group, which provides a range of targeted insurance …
Read More Missouri State Employee Indicted for Stealing $140K in Unemployment Insurance Funds
A Missouri state employee has been indicted on three federal felony charges and accused of using her position to send about $140,500 in unearned unemployment benefits to friends, relatives and others. According to the indictment, Vicky Hefner, 63, of Jefferson …
Read More CNA Records 50% Drop in Q3 Net Income
Net income at CNA Financial Corp. was down 50% for third quarter of 2022 compared to the prior year quarter, while property/casualty core income grew on improved underwriting performance. The insurance holdings company reported net income of $128 million for …
Read More U.S. Regulators Seek More Info on Texas Freeport LNG Plant Before Restart
U.S. federal regulators have told Freeport LNG to provide information needed for the planned restart of its liquefied natural gas (LNG) export plant in Texas, the second-largest U.S. LNG export plant, as soon as possible to allow sufficient time for …
Read More Arthur J. Gallagher & Co. Acquires Texas’ Tejas American General Agency
Arthur J. Gallagher & Co. announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Cedar Park, Texas-based Tejas American General Agency, LLC (TAGA). Terms of the transaction were not disclosed. Founded …
Read More Marsh McLennan Acquires Texas-Based Focus
Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Focus Insurance, a leading personal insurance brokerage firm based in Houston, Texas. Terms of the acquisition were not disclosed. Founded in 2001, Focus Insurance specializes in customized personal …
Read More FedEx Will Appeal $366 Million Jury Award in Worker’s Racial Bias Case
FedEx Corp. said it will challenge what may be the largest-ever jury verdict won by a worker suing over racial bias, $366 million awarded to a Black former saleswoman who claimed the company fired her after she complained about discrimination. …
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