INSURANCE NEWS
Man’s Body Found After Suburban Chicago Home Explodes
LAKE ZURICH, Ill. (AP) — The body of a 77-year-old man has been found after a house exploded in suburban Chicago. First responders found the home leveled after the explosion about 8:30 p.m. Tuesday in Lake Zurich, according to the …
People Moves: AXIS Appoints Boulos and Ryan to Head US Ocean Marine
AXIS Capital Holdings Limited, headquartered in Pembroke, Bermuda, appointed Paul Boulos and Rob Ryan as heads of ocean marine. Boulos and Ryan will be responsible for building a suite of ocean marine-related products into a comprehensive offering. Most recently, Boulos, …
After 11 Deaths, Lawsuit, Arrests at Jail, Travelers Drops NC Sheriff’s Liability Coverage
After multiple deaths in the jail, criminal charges against an employee and alleged sexual relationships with inmates, a North Carolina sheriff’s office has lost its law enforcement liability insurance coverage from Travelers. The News & Observer and other news outlets …
Texas County to Pay Female Deputies $1.5M to Settle Sexual Misconduct Suit
HOUSTON (AP) — A Texas county has agreed to pay a group of female deputies $1.5 million to settle a federal lawsuit that claimed they were abused and harassed when a constable’s office turned undercover operations into a drunken “playground …
Netflix Sued in $170M ‘Baby Reindeer’ Defamation Lawsuit
Netflix was sued on Thursday for at least $170 million by a Scottish woman who said she was defamed over her portrayal as a stalker in the hit mini-series “Baby Reindeer.” The plaintiff Fiona Harvey has publicly claimed to be …
Massachusetts Drivers Lose Second Bid for Class Certification Over Lost Resale Value
Three Massachusetts drivers have hit a dead end for the second time in their drive for court certification of a class action against auto insurers over missing payments for the lost resale value of vehicles. Superior Court Justice Kenneth Salinger …
Close Call at South Carolina Bridge as Out-of-Control Freighter Loses Power
A large cargo ship lost control of its engines and went nearly full throttle through a South Carolina harbor Wednesday, prompting the closure of one of the busiest bridges in the state. Harbor pilots were able to help the nearly …
Brown & Brown Acquires Minnesota’s McNamara Company
Brown & Brown, Inc. announced it has acquired the assets of McNamara Company. McNamara Company is a family-owned agency that has been servicing customers in all 50 states for four generations. Established in 1970 in Minnesota, McNamara Company provides a …
Growing Reliance on Big Tech for AI Carries New Risks, Banks Say
The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud …
Markets/Coverages: MGA Nirvana Renews Media, Tech & Cyber Binder With Increased Media Liability Line
Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10 million media liability line. Effective on June 1, the renewal also provided expanded …
People Moves: Ascot Underwriting Names Thompson as CEO, Keith Named Head of Ascot Bermuda; Geneva Assn. Appoints AIA’s Top Executive as Chair
This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association. A summary of these new hires follows here. Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the appointments …
Amazon Accused of Misusing Small Sellers’ Data in $1.3 Billion UK Lawsuit
Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), an umbrella body grouping …