Insurance
ExxonMobil Exits Russia After Putin Expropriates Assets Valued at More Than $4 Billion
Exxon Mobil Corp. said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. Exxon did not say …
Read More Russia Oil Exporter Rosneft Moves Into Tanker Chartering as Western Sanctions Loom
Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said. Previously, state controlled Rosneft, which produces …
Read More Swiss Re Expects Claims From Hurricane Ian to Bring Q3 Loss
Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately $1.3 billion. “While the 2022 target of 10% Group ROE is unlikely to be reached …
Read More South Carolina Approves Cut in Credit Property Insurance Rates
The South Carolina Department of Insurance has approved new, tentative rates for credit property insurance in the state. The allowed rates amount to a 9.1% decrease from 2021’s levels, acting Director Michael Wise said in a bulletin posted this week. …
Read More Takeaways from Our Conversation on Must-Know Cannabis Lawsuits
The lay of the legal land in cannabis today largely involves investor suits, trademark issues, and employment practices litigation. But legal matters arising out of compliance complaints may be among the biggest suits worth noting, such as the lawsuit against …
Read More Federal Judge Dismisses Multiple Pennsylvania COVID-19 Claims
A Western Pennsylvania federal district judge has dismissed eight cases seeking payment for COVID-19 business interruption coverage from several insurers including Cincinnati Insurance, Travelers Insurance and Hartford. Financial Services. Citing the district’s court’s own previous ruling in 30 cases against …
Read More Delaware Workers’ Compensation Rates to Drop by Double Digits: Navarro
Delaware workers’ compensation insurance rates will decrease for the sixth year in a row, effective December 1, 2022. Both the voluntary market and the residual market will see rate decreases in the double digits. The Delaware Compensation Rating Bureau (DCRB) …
Read More Muscle Car Theft Ring Arrests Follow Postal Worker Holdup
Thieves are using cloned key fobs to steal Dodge muscle cars and other high-powered vehicles directly from dealerships and even automakers in Michigan, then selling them for tens of thousands of dollars less than their value, according to authorities and …
Read More Inszone Insurance Completes Acquisition of Precision in Colorado
Inszone Insurance Services acquired Precision Insurance in Colorado. Precision Insurance was opened in November of 2017 by Heather McBroom. Inszone was founded in 2002 and is headquartered in Sacramento, California. Inszone provides property/casualty insurance, along with employee benefits solutions.
Read More People Moves: LSM Switzerland Promotes Hefel to Country Mgr; BHSI Names Bruce-Kahn as CE, Singapore; Howden CAP Taps Marsh’s van Kuffeler Chief Commercial Officer
This edition of International People Moves details appointments at Liberty Specialty Markets (LSM), Berkshire Hathaway Specialty Insurance (BHSI) and Howden CAP. A summary of these new hires follows here. Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk …
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