Insurance
2 New Mexico Counties Were Added to Wildfire Disaster Declaration
Two more New Mexico counties were added to a federal disaster declaration issued in response to the state’s historic wildfire season. State officials said that Los Alamos and Sandoval counties will now be eligible for grant funding through the Federal …
Read More Mitsui Sumitomo Insurance to Buy Reinsurance Broker Transverse for $400 Million
Mitsui Sumitomo Insurance Company, a subsidiary of Japan’s MS&AD Insurance Group Holdings, will spend about $400 million to buy U.S. reinsurance broker Transverse, the Nikkei business daily reported on Sunday. The Japanese property insurer aims to gain know-how of the …
Read More Global Indemnity Agrees to Sell American Reliable Unit to Everett Cash Mutual
Global Indemnity Group said it agreed to sell subsidiary American Reliable Insurance Company (ARIC) to Everett Cash Mutual Insurance Co. (ECM), and it completed the disposition of ARIC’s farm, ranch and equine book of renewal business to ECM. Global Indemnity …
Read More Massachusetts Police Sued Over Wrongful Arrest Deny Racial Profiling Claim
A Massachusetts police department whose officers are accused of wrongfully arresting a Black man while pursuing a white suspect said Friday that an outside investigation found no evidence of racial profiling. The town manager for Arlington, a Boston suburb, and …
Read More Pipeline Agrees to Pollution Remediation, Watersheds Restoration in Pennsylvania
The developer of a major pipeline system that connects the Marcellus Shale gas field in western Pennsylvania to an export terminal near Philadelphia pleaded no contest Friday to criminal charges that it systematically polluted waterways and residential water wells across …
Read More Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by 908 million euros ($926 …
Read More CNA Hardy Online Raises Attachment Points for Excess-of-Loss Cover to £150M
CNA Hardy, the specialist commercial insurer that writes business within the Lloyd’s and company markets, announced increased flexibility in the attachment points available from its online excess-of-loss platform. By increasing the maximum attachment point capability from £25 million to £150 …
Read More Arkansas Supreme Court Asked to Put Marijuana Measure on Ballot
Supporters of a recreational marijuana initiative have asked the Arkansas Supreme Court to order election officials to put their measure on the November ballot. Responsible Growth Arkansas asked the court last week to reverse the State Board of Election Commissioners’ …
Read More Study: Dozens Got Sick Visting Kansas Splash Park
A new federal study said dozens of people got sick after visiting a splash park near Wichita, Kansas, last summer. The study by the federal Centers for Disease Control and Prevention said that 21 people contracted Shigella bacteria and six …
Read More People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE Berkshire Hathaway Specialty Insurance (BHSI) announced …
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