INSURANCE NEWS
People Moves: BevCap Management Names Vehovic VP of Dealer Risk Services; Skyward Specialty Adds Miglin and Smith
BevCap Management, LLC, headquartered in McKinney, Texas, hired Danny Vehovic as vice president of dealer risk services. Vehovic will be focusing on risk consulting and business development for Dealer Management Group, a homogeneous group captive for franchise auto dealers and …
Indiana Contractor Faces $199K Fine for Exposing Workers to Deadly Falls
Twice in less than two weeks, federal workplace safety inspectors found an Indiana contractor exposing employees to deadly risks of falls from elevation while they did framing work at two homes under construction in Perrysburg, Ohio Inspectors with the U.S. …
Typhoon Remnants Bring Rains, Floods That Kill Four in China
Torrential rain and floods killed four people and spurred the evacuation of thousands from homes in China’s southern province of Hunan, lashed by record rainfall from the remnants of Typhoon Gaemi, state media said on Tuesday. Days of heavy rain …
Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022
SCOR SE reported its first quarterly loss since 2022, delivering a setback to Chief Executive Officer Thierry Leger. The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analyst estimates. The result …
Ohio Supreme Ct.: Chicken Wings Advertised as ‘Boneless’ Can Have Bones
Consumers cannot expect boneless chicken wings to actually be free of bones, a divided Ohio Supreme Court ruled last week, rejecting claims by a restaurant patron who suffered serious medical complications from getting a bone stuck in his throat. Michael …
Texas Crude Oil Pipelines Are Full to the Brim and Getting Worse
Crude oil pipelines connecting the busiest Texas oil fields to a critical export hub across the state are nearly out of space, threatening to cap US oil exports at a time when the world needs more. Key pipelines that transport …
Companies ‘Paralyzed’ as Australia Plans Tough Climate Rules
Australia’s plans to introduce stringent rules on climate disclosures are driving up concerns among businesses about compliance in one of the world’s biggest per-capita emitters. More than 6,000 companies including listed and unlisted firms, financial institutions and asset owners will …
Insurance Comparison Site The Zebra Buys Marble
Personal lines insurance comparison site The Zebra said it has acquired Marble, a digital platform for managing and saving on insurance. The acquisition is effective as of July 25, 2024. Terms of the deal, the first in The Zebra’s 12-year …
Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
The average price for directors & officers liability insurance decreased 5.2% per $1 million in limits in the second quarter, according to Aon Commercial Risk Solutions. Aon said the decrease compared to the same quarter in 2023 was the ninth …
Nationwide Plans 5% Reduction in Employee Headcount
Insurer Nationwide said late last week that it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply …
Confie Acquires Insurance Agencies in Texas, Florida, North Carolina
Confie, a California-based personal lines distributor, has acquired three insurance agencies in the South, the firm said last week. Affordable Insurance in Hendersonville, North Carolina; US1 Insurance in Miami; and Bridgepoint Insurance in McAllen, Texas, are now part of the …
People Moves: Gov. Moore Appoints Grant as Next Maryland Insurance Commissioner
Maryland Governor Wes Moore has named Marie Grant, an attorney with nearly 20 years of experience in insurance and health care policy and regulation, as his state’s next insurance commissioner. Grant currently serves as assistant secretary for health policy at …