INSURANCE NEWS
West Texas Has More Fatal Crashes Than State Average, Report Finds
ODESSA — Severe and fatal vehicle crashes occur at a higher rate in the Permian Basin than the rest of Texas, a new report released Wednesday by the Texas A&M Transportation Institute found. Commissioned by the Permian Road Safety Coalition, …
Ares Leads $3.3 Billion Private Loan for UK Insurance Broker Ardonagh at Low Rate
Ares Management Corp. is leading a $3.3 billion private credit loan for UK insurance broker Ardonagh Group Ltd., with the debt’s pricing among the lowest seen in direct lending, people with knowledge of the matter said. Ardonagh’s loan is set …
JPMorgan, State Street Quit Climate Group, BlackRock Steps Back
JPMorgan Chase’s and State Street’s investment arms on Thursday both quit a global investor coalition pushing companies to rein in climate-damaging emissions, while BlackRock said it has transferred its membership to its international arm, limiting its involvement. The decisions together …
Cyber Risk Management Specialist KYND Secures New Funding for Global Growth Plans
KYND, the London-based provider of cyber risk management solutions, has disclosed “a substantial investment” to propel expansion and further growth. The investment comes from Verisk, a leading global data analytics and technology provider, and existing backer BGF, one of the …
Under New Owners, Florida’s TRUE Gets Slight Downgrade, Withdraws from AM Best
Six weeks after Trusted Resource Underwriters Exchange, a Florida-based reciprocal property insurer, announced it had received a $1.25 billion capital investment and new majority ownership, the AM Best rating firm has slightly downgraded the exchange’s financial strength and credit ratings. …
Waymo Recalls 444 Self-Driving Vehicles Over Software Error
Alphabet’s Waymo unit has recalled 444 self-driving vehicles after two minor collisions in quick succession in Arizona because a software error could result in them inaccurately predicting the movement of a towed vehicle. All of the vehicles are in the …
Georgia, NC Women Face Insurance Fraud Charges After Auto Accident Claims
Georgia law enforcement authorities were searching for a Lawrenceville woman who allegedly submitted fabricated medical records in an auto insurance claim in an effort to collect $15,000, the state insurance commissioner said. The insurer was not named in the bulletin …
US Offers Up to $10M Reward for Info Leading to Leaders of Notorious Ransomware Gang
If you’ve got information on one of the world’s most prolific ransomware gangs, you could stand to make a cool $10 million. The Department of State on Thursday announced a reward of up to $10 million for anyone who can …
Canada’s Co-operators Enters Home-Services Business With Carson Dunlop Purchase
Co-operators Financial Services Ltd. announced the acquisition of the parent company of Carson Dunlop & Associates Ltd., a consulting engineering firm that provides advice to help homeowners make better, more informed decisions about their homes, while also providing education and …
New Bill Would Still Permit Smoking in Atlantic City Casinos But With More Restrictions
Atlantic City casinos would be able to continue to allow gamblers to smoke on the casino floor under a new bill that would impose additional restrictions on lighting up. New Jersey state Sen. John Burzichelli introduced a bill Monday giving …
Pennsylvania’s State Courts Restore Website Services Disrupted by Cyber Attack
The Pennsylvania state court system has restored all of its digital platforms that were disrupted by a February 4 cyber attack. In an update, Chief Justice Debra Todd reported that the system’s news, statistics, court opinions and the civics educational …
People Moves: Swanick and Hayes Join Centri; Haan Heads World Insurance HR; Carson Joins Risk Strategies
Swanick and Hayes Join Centri Centri Business Consulting, headquartered in Philadelphia, hired John Swanick as senior director and Joe Hayes as managing director to lead its insurance practice. Swanick and Hayes bring over 70 years of combined insurance and financial …