INSURANCE NEWS
People Moves: Markel’s Colosimo Joins CRC; Risk Strategies Consulting Names Piltch
CRC Group, headquartered in Birmingham, Alabama, hired Vince Colosimo as executive vice president in the company’s New York City downtown office. Colosimo will assume the role of office president in mid-2025, with current Office President Fred Curatolo taking on a …
People Moves: Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO; Marsh Names Fort From McGill and Partners as Int’l Cyber Product Leader
This edition of International People Moves details appointments at the brokers Price Forbes and Marsh. A summary of these new hires follows here. Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO Sarah Horler has been appointed as Price …
Family Dollar to Pay $41M Fine Over Rodent-Infested Distribution Center
Family Dollar agreed this week to pay $41.7 million for holding food, drugs, medical devices, and cosmetics under insanitary conditions at company’s West Memphis, Arkansas, distribution center. A criminal information unveiled Feb. 26 in federal court in Little Rock, Arkansas, …
Iowa Meat Processing Plant Accused of Illegally Hiring Children
DES MOINES, Iowa (AP) — U.S. authorities have accused another sanitation company of illegally hiring at least two dozen children to clean dangerous meat processing facilities, the latest example of illegal child labor that officials say is increasingly common. The …
Illinois Insurance Agent Sentenced to 7 Years in Prison for Swindling Premiums
The owner of a suburban Chicago insurance agency has been sentenced to seven years in federal prison for swindling more than $1 million from clients by collecting annuity premiums for policies that he never purchased, the U.S. Attorney’s Office, Northern …
Six Charged in Alleged $1M Auto Insurance Claims Scheme in Massachusetts
Six people have been indicted in connection with the alleged filing of fraudulent insurance claims through their auto body repair business in Everett, Massachusetts. Four of the defendants were arraigned this week in Middlesex Superior Court, while two others also …
Signers National, Acrisure Mark Expansions in Southeast
Signers National, the New York-based parent of several insurance companies, said it has acquired Ballantyne Insurance Group in Charlotte, North Carolina. Ballantyne specializes in coverage for human service organizations. It is own by William Bradley, who will stay on as …
IVF Clinic Insurance Affected by Ruling as Alabama Lawmakers Look for a Fix
MONTGOMERY, Ala. (AP) — Lawmakers began scrambling for ways to protect Alabama in vitro fertilization services after multiple providers paused treatment in the wake of a state Supreme Court ruling that frozen embryos could be considered children under a state …
EU Lawmakers Approve Tougher Penalties for Environmental Crimes
The European Parliament on Tuesday approved tougher penalties for environmental crimes such as illegal timber trade, with offenses punishable by up to 10 years in prison and company directors prosecuted for corporate wrongdoing. “It is about time we fought cross-border …
Nvidia’s $70M Florida Supercomputer Hobbled by DeSantis Law
(Bloomberg) — When Chris Malachowsky, a billionaire founder of chip giant Nvidia Corp., bankrolled one of the world’s biggest supercomputers at the University of Florida, Ron DeSantis predicted the machine would be a magnet for artificial intelligence talent. Almost four …
Employee Wins Workers’ Compensation Under Exception to ‘Coming-and-Going’ Bar
An exception to the workers’ compensation “coming-and-going” rule applies where the employer provides the transportation even if the employer says there was no explicit agreement that he would supply rides. The exception can apply where there is credible evidence to …
Clyde & Co: M&A Activity to ‘Start to Increase Through 2024’
The number of worldwide mergers and acquisitions in the insurance sector in 2023 dropped to 346 in 2023, down from 449 in the previous year, according to a new report from Clyde & Co. But the global law firm believes …