INSURANCE NEWS
Brown & Brown’s Bridge Specialty International to Buy Singapore-Based Broker Acorn
Brown & Brown Europe’s wholesale and specialty brokerage group, Bridge Specialty International, announced it has agreed to acquire Acorn International Network Pte Ltd., a Singapore-based insurance broker. The transaction is expected to be completed in the first quarter of 2024, …
Survey: Carrier Connectivity Top of Mind for Agents
Agents continue to favor carriers and MGAs that offer automation, ranking ease of doing business and time savings at the top of the list of value they get from connectivity, according to a newly released survey by Ivans. The annual …
OSHA Announces Penalty Increases for 2024
The Occupational Safety and Health Administration said it is slightly raising civil penalty amount for 2024, effective Jan. 16. The Department of Labor’s OSHA said maximum penalties for serious and other-than-serious violations will increase from $15,625 per violation to $16,131 …
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate increases for non-catastrophe property …
Alabama’s Starke Agency Acquires University Insurance in Auburn
Starke Agency, an insurance brokerage in Montgomery, Alabama, has acquired University Insurance Agency in Auburn, one of the oldest brokers in the city. The terms of the deal were not disclosed. Starke said in a news release that it further …
US Supreme Court to Hear Case on Starbucks Firing Pro-Union Workers in Tennessee
(Reuters) – The U.S. Supreme Court on Friday agreed to hear a challenge by Starbucks to a judicial decision that required the coffee chain to rehire seven employees at one of its cafes in Memphis, Tennessee who a federal agency …
The Avalanche Risk is High in Much of Western U.S.
As a massive winter storm dumped snow across much of the western U.S., some hardy winter sport enthusiasts headed to ski resorts and backcountry slopes despite frigid temperatures during the long Martin Luther King Jr. Day weekend. But in many …
NTSB Investigating After High-Speed Rail Crashes Killed 3 People in Florida
FORT LAUDERDALE Fla. (AP) — The National Transportation Safety Board said Saturday it will investigate two crashes involving Florida’s Brightline train that killed three people at the same railroad crossing on the high speed train’s route between Miami and Orlando. …
Former Finance Manager of WV Disaster Assistance Sentenced to 3 Years for Theft
CHARLESTON, W.Va. (AP) — A former finance manager of a nonprofit organization that assists West Virginia disaster victims was sentenced Thursday to more than three years in prison for the theft of $871,000 from the group. Benjamin Cisco, 31, of …
Boeing Sued by Alaska Air Passengers Over 737 Max 9 Door Blowout
Boeing Co. was sued by passengers on an Alaska Airlines Inc. flight that was forced to make an emergency landing in Portland, Oregon, last week after a mid-air blowout of a so-called door plug on the 737 Max 9 jet. …
Daihatsu Loses Certification for Three Cars After Safety Scandal
The Japanese government has revoked certification for three Daihatsu Motor Co. vehicles after an investigation found the Toyota Motor Corp. affiliate had been manipulating collision safety test results for decades. Transport Minister Tetsuo Saito delivered an order of improvement to …
Repsol Sued in Class Action for $1 Billion Over Peru’s Worst Oil Spill
Repsol SA is being sued for $1 billion by an English law firm representing around 35,000 alleged victims for its involvement in Peru’s largest oil spill in 2022. Tom Goodhead, chief executive officer of Pogust Goodhead, said the lawsuit was …