INSURANCE NEWS
People Moves: AIG Names Twiningdavis EVP, Chief Administrative Officer; Lopez joins CFC USA as Senior Executive Underwriter
AIG Names Twiningdavis Executive Vice President, Chief Administrative Officer American International Group, Inc. (AIG), named Melissa Twiningdavis executive vice president and chief administrative officer, effective September 1. She will join AIG’s executive leadership team and be based in New York. …
P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast
Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to a report from the Insurance Information Institute (Triple-I) …
AIG Files Amended Suit Against Former Execs, Dellwood Insurance
American International Group and a group of its companies have filed a new, amended complaint against Dellwood Insurance Group, started earlier this year by a group of former AIG executives. The lawsuit filed July 10 in U.S. District Court for …
Dollar General to Pay $12M Penalty, Improve Safety
Discount store operator Dollar General has agreed to pay $12 million in penalty for alleged safety violations that led to blocked exits and fire extinguishers and unsafe storage, the U.S. Labor Department said in a statement. The company is also …
Georgia Governor Reappoints Bahl to Workers’ Comp Board
Georgia Gov. Brian Kemp has reaapointed Neera Bahl to another term on the state Board of Workers’ Compensation. The three-member board, which includes Director Benjamin Vinson and Chairman Frank McKay, acts as the appeals panel, hearing appeals from administrative law …
Washington Roofers Fined $1.27M for Putting Workers at Risk of Falling
Four Washington roofing companies are facing $1.27 million in fines from the Washington State Department of Labor & Industries for safety violations including allowing workers on top of homes without fall protection. L&I cited and fined Allways Roofing Inc. $345,700 …
Novatae Acquires Missouri-Based Denali Specialty Group
Novatae Risk Group announced that it has acquired the assets of Denali Specialty Group, LLC of St. Louis, MO on July 1, 2024. Terms of the transaction were not disclosed. Founded in 2019, Denali is a full-service insurance intermediary that …
Michigan AG Reminds Residents to Avoid Scams After Flooding
Michigan Attorney General Dana Nessel is urging residents to be vigilant against scammers targeting those affected by the heavy rains from the remnants of Hurricane Beryl. The storm flooded communities, damaged homes, and left thousands without power. “Education and awareness …
UK, EU States to Target Russia’s Shadow Oil Fleet With More Checks
The UK plans to launch a “call to action” this week with a group of European nations to target the so-called shadow fleet of oil tankers that Russia uses to skirt international sanctions, according to people familiar with the matter …
Lloyd’s Insurer AEGIS London Launches Data Science and Analytics Team
AEGIS London, the London-based Lloyd’s syndicate, has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives. Led by Giuseppe D’Angelo, head of Data Analytics and Portfolio Underwriting, the newly formed team is comprised of …
Parametric Insurance’ Helps Farmers and Others Hit Hard by Extreme Weather
Joemar Flores, a spindly 28-year-old, gestured across his family’s farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance. They’re still there, producing food and an income for him, thanks in …
Hub Acquires Swanson Insurance Agency in Louisiana
Hub International Limited announced the acquisition of the assets of Swanson Insurance Agency, Inc. & Swanson & Associates, Inc. (collectively, Swanson Insurance Agency). Terms of the transaction were not disclosed. Located in New Orleans, Louisiana, Swanson Insurance Agency is a …