INSURANCE NEWS
Agency M&A Down 24% in 2023 but More Large Deals May Be Seen in 2024: OPTIS
There has been a somewhat return to normal when it comes to insurance-agency mergers and acquisitions, with traditionally active buyers preferring to remain inactive to focus on integration of agencies they’ve already acquired. According to the M&A database of investment …
EU Reinforces Tight Limits on Crypto Firms From Outside Bloc
Crypto companies based outside the EU will only be able to directly serve customers within the bloc under very limited conditions to avoid unfair competition, the European Securities and Markets Authority (ESMA) proposed on Monday. The EU approved the world’s …
Environmental Officials Working to Clean Up Fuel After Fiery Tanker Truck Crash in Ohio
MACEDONIA, Ohio (AP) — Environmental officials in Ohio were back on the scene Sunday of a fiery tanker truck crash, working to contain thousands of gallons (liters) of diesel fuel that spilled during the accident. The truck that crashed Saturday …
Banks, Insurers Set to Lose Reprieve From EU’s Toughest ESG Rule
Financial firms in the European Union look set to be hit by a new ESG requirement that they lobbied hard to avoid. The European Parliament and the European Council are moving toward an agreement that banks, asset managers and insurers …
NCCI: Wage Growth Likely to Continue Workers Comp Payroll Growth
Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …
Philips’ US Sales of Sleep Apnea Devices Face Years-Long Halt After FDA Deal
Dutch health technology company Philips will not sell new devices to treat sleep apnea in the U.S. in the coming years as it works to comply with a settlement with the Food and Drug Administration (FDA) announced on Monday. The …
Trader Joe’s Follows SpaceX in Arguing US Labor Board Is Unconstitutional
Grocery chain Trader Joe’s is joining Elon Musk’s SpaceX in arguing that the US labor board, which is prosecuting cases against both companies, is unconstitutional. At a Jan. 16 National Labor Relations Board hearing in Connecticut, an attorney for Trader …
Three in Miami Charged with Workers’ Comp Payroll Fraud
Three Miami-area construction labor suppliers have been charged with underreporting payroll and shorting their workers’ compensation insurers more than $220,000 in premiums. Juana Ledezma and Luis Ledezma, associated with Superior Group Management Inc., were arrested in mid-January after an investigation …
Home Fire in Alaska Kills Woman and 5 Children, Officials Say
A woman and five children have died in a fire at a home in a small northwest Alaska village, Alaska State Troopers said. The remains of the six have been recovered from the home in Noorvik, an Inupiat community of …
Resilience in California Expands Cyber Risk Management for Global Clients of $10B in Revenue
San Francisco, California-based Resilience expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The company reports that its expanded authorities come after a strong year of growth, with fewer than 5% of …
Small Farmers Hit by Extreme Weather Would be Helped by New Crop Insurance Program
Since catastrophic flooding hit Vermont in July and waterlogged crops, some farmers are trying to figure out how to get through the next season. Water washed away seeds planted in the summer at Bear Roots Farm, which grows about 20 …
NRA Chief LaPierre Defends His Spending, Luxury Travel in New York Civil Trial
Longtime National Rifle Association chief Wayne LaPierre took the stand in his New York civil trial Friday, defending himself against allegations that he violated the trust of the group’s 5 million members by spending tens of millions of dollars to …