INSURANCE NEWS
Blu Clarity Names Irys Insurtech as Foundational Technology Platform
Blu Clarity, a value-based risk management solutions, has chosen Irys Insurtech as its foundational technology platform. This strategic move empowers Blu Clarity, an MGA, to quote and bind policies in real-time with any Irys platform user. Houston, Texas-based Blu Clarity …
Agency Aggregator Union Bay Acquires Michigan’s Skar Insurance
Union Bay Acquisition LLC, an aggregator of insurance agencies agent based in Lansdale, Pennsylvania, has acquired Skar Insurance Group of Rockford, Michigan. Terms were not disclosed. Skar Insurance specializes in trucking insurance with presence in Illinois, Indiana, Michigan, Mississippi, Ohio …
Iowa Enters Settlement With Cryptocurrency Firm Abra
The Iowa Insurance Division announced it entered a settlement in principle with a group of affiliated companies commonly known as Abra. The settlement addresses Abra’s alleged offer and sale of interest-bearing cryptocurrency depository products referred to as Abra Boost and …
New Orleans Bakery Sued for Pregnancy Discrimination
Gracious, LLC, a company based in New Orleans and doing business as Gracious Bakery + Café, violated federal law when it fired an employee because of a medical condition related to her pregnancy, the U.S. Equal Employment Opportunity Commission (EEOC) …
Verisk’s Annual Profit Forecast Falls Short Amid Spending Uncertainty
Verisk Analytics forecast 2024 adjusted profit below market estimates last Wednesday, as the broader data and analytics industry grapples with worries that an uncertain economy would potentially trigger spending cutbacks from clients. The company’s products primarily cater to U.S. property …
Subterranean Termites Creating a ‘New Norm’ in Florida, Damaging Homes and Trees
Some of the most insidious and damaging species of termites are spreading across Florida, causing damage to homes as swarming season approaches in March, experts say. The South Florida Sun Sentinel reported that entomologists at the University of Florida are …
Lithium Ion Battery Caused Fatal Fire in Harlem Apartment Building, Say Officials
A lithium ion battery sparked a fire that killed one person and injured 17 others at a New York City apartment building, fire officials said Saturday. Friday’s two-alarm fire began just after 2 p.m. on the third floor of a …
People Moves: Florida Peninsula Hires Compliance Officer from Citizens
Florida Peninsula Insurance Co., one of Florida’s larger residential insurers, has named attorney Nancy Staff to be director of corporate compliance. The position is a new one for Florida Peninsula, where Staff will be responsible for developing and managing the …
Jury Finds Former NRA Chief LaPierre Misspent Gun Group’s Funds, Owes $4.4M
The longtime head of the National Rifle Association, Wayne LaPierre, misspent millions of dollars of the organization’s money, using the funds to pay for an extravagant lifestyle that included exotic getaways and trips on private planes and superyachts, a New …
Bank of England Builds ‘Proactive Case’ to Regulate Non-Bank Sector
Regulators need broader oversight of financial firms to prevent a crisis in the vast non-bank sector wreaking havoc on the economy, Britain’s central bank said on Monday. The Bank of England was forced to step in and buy UK government …
Germany Passes Law Legalizing Personal Use of Cannabis
German lawmakers approved a controversial bill legalizing personal use of cannabis, paving the way for controlled consumption of the drug from April 1. The legislation introduced by Chancellor Olaf Scholz’s government — a first step toward a planned broader legalization …
People Moves: QBE Promotes Shallow to Executive Director for International Markets; DUAL UK Taps Allianz’s Dixon as CUO, AXA’s Corner as Chief Distribution Officer
This edition of International People Moves details appointments at QBE’s International Markets division and Howden’s DUAL. A summary of these new hires follows here. QBE Names Shallow to Executive Director for International Markets QBE announced the appointment of Kevin Shallow …