INSURANCE NEWS
Alera Group Buys Med Mal Insurer CLS Healthcare Liability
Alera Group, an insurance and financial services firm in the U.S., announced the acquisition of CLS Healthcare Liability Specialists. Based in North Palm Beach, Florida, CLS provides malpractice coverage for physicians, surgeons, hospitals, locum tenens firms, nurse staffing firms and …
Robinhood Settles Massachusetts Regulators’ Trading Case for $7.5 Million
Online brokerage Robinhood on Thursday agreed to pay a $7.5 million fine and overhaul its practices to resolve allegations by Massachusetts’ securities regulators that it encouraged inexperienced investors to place risky trades. Massachusetts Secretary of State Bill Galvin filed an …
Safety Investigators Find No Engine Problems With News Helicopter That Crashed
A television news helicopter that crashed in a southern New Jersey forest last month, killing the pilot and a photographer, had no engine problems that would have prevented normal operation, federal investigators said Wednesday. The National Transportation Safety Board released …
Deep Freeze Across South Central US Forces LNG Exporters to Cancel, Delay Cargoes
The recent freeze across Texas and Louisiana disrupted scheduled exports of US liquefied natural gas, temporarily tightening some supply of the heating and power-plant fuel. The Cameron LNG export plant in Louisiana canceled at least one scheduled shipment, according to …
Illinois Manufacturer Faces in $298K Penalties for Safety Machine Violations
An Illinois manufacturer faces $298,000 in penalties after an investigation by the U.S. Department of Labor’s Occupational Safety and Health Administration found the company failed to guard industrial equipment, develop a lockout/tagout program and train workers on machine safety procedures, …
People Moves: VIAA Promotes Kaatman to Director of Growth; Krieger Joins Alliant in Iowa
Valley Insurance Agency Alliance Promotes Kaatman to Director of Growth Valley Insurance Agency Alliance (VIAA), headquartered in St. Louis, Mo., promoted Bill Kaatman to director of growth. Kaatman brings 17 years of experience in the insurance industry, previously serving as …
Iowa Man Sentenced for Disaster-Related Insurance Fraud
An Iowa man was sentence last week to 21 months in prison after pleading guilty to crimes of insurance fraud. Timothy Daryle Sletten, age 32, of Marshalltown, was sentenced on January 11, 2024. The charges against Sletten stem from an …
Inszone Acquires Texas’ Dina King Insurance
Inszone Insurance Services has announced the acquisition of Dina King Insurance. This acquisition is a major move for Inszone Insurance as they expand in Texas. Dina King Insurance, founded by Dina King in 1985, has been a part of the …
10 Largest Auto Insurers Each Raised Rates by Double Digits in 2023
According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its private-auto insurance peers in the U.S. did the same. All 10 of the …
Arthur J. Gallagher Acquires New England’s Rowley Agency
Global insurance broker Arthur J. Gallagher & Co. announced it has acquired Concord, New Hampshire-based The Rowley Agency. The Rowley Agency is a retail insurance broker providing property/casualty, surety and employee benefits products to commercial and personal lines clients primarily …
Georgia Saw Most Frozen-Pipe Claims in 2022-2023, State Farm Says
Georgia was, by far, the state with the most frozen pipe and water damage claims, State Farm Insurance reported as much of the country faces the first deep freeze for winter 2024. The insurer said in an article on its …
Connecticut Sees Growth in Captive Insurers for Fourth Straight Year
Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive insurers and 13 new cell risk-bearing entities. With …