INSURANCE NEWS
Warmer Winters Could Mean More Tornadoes in December, Like Those in NC, TN
Residents of Garner, North Carolina, have spent the week cleaning up after an F1 tornado damaged more than 20 homes and left four of them uninhabitable. The Raleigh News & Observer reported that warmer winters already have resulted more storms …
Howden Acquires Denmark’s NORTH Risk
Howden, the London-based insurance group, announced an agreement to acquire Denmark’s fourth largest insurance intermediary NORTH Risk, thereby establishing a retail presence in the Danish market and strengthening its geographical presence in the Nordic region of Europe. NORTH was founded …
Range Rovers Become Thief-Magnets, Causing Insurance Premiums to Skyrocket
Tim Coen, a property investor, loved his Range Rover Sport but decided it was time to go green. He wanted to trade in the gas-guzzling sport utility vehicle for an electric Porsche. There was a snag, however. A string of …
AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s
AXIS Capital Holdings Ltd. announced it has received in-principle approval from Lloyd’s to launch a syndicate that will focus on providing capacity for new energy projects with a critical role in supporting the transition to net zero. Through Energy Resilience …
NTSB Finds Chicago Train Operator Was Not at Fault for November Crash
CHICAGO (AP) – The operator of a Chicago commuter train that collided with snow- removal equipment last month was not at fault for the crash, which could have been prevented by a more sophisticated signal system, the National Transportation Safety …
TWIA Board Votes to Maintain Agent Commissions at 16% After Hearing Testimony on Impact
The Texas Windstorm Insurance Association held its final quarterly meeting on Dec. 12 in Corpus Christi, where the board of directors voted to approve the association’s budget for 2024. The board also voted to keep agent commissions unchanged after listening …
Armed Guards on Tanker Exchange Fire With Boat Near Yemen
Armed guards on a fuel tanker exchanged gunfire with a small boat in the Red Sea, another sign of escalating risks in one of the world’s most crucial waterways. The frequency of attacks in the maritime corridor handling about 12% …
Harassment of Women in Financial Services Eclipses Other Industries: Aviva CEO Blanc
Amanda Blanc, the CEO of insurer Aviva, told British lawmakers on Wednesday that physical and verbal harassment of women in financial services eclipsed other industries and that she had heard “absolutely appalling” stories. Blanc, giving evidence to the Treasury Committee …
Trends in Auto Thefts Add to Rising Claim Costs
Vehicle theft rates continue to put pressure on the personal auto insurance market. CCC Intelligent Solutions said in its year-end report that the number of vehicle thefts in the U.S. increased 2% in the first half of 2023 after rising …
GM’s Cruise Robotaxi Unit Dismisses Nine Execs After Safety Probe
General Motors’ Cruise robotaxi unit dismissed nine key people amid an ongoing safety investigation, according to a memo seen by Reuters on Wednesday, which the company confirmed included Chief Operating Officer Gil West. The investigation relates to an October incident …
Crews Work to Contain Gas Pipeline Spill in Washington
Responders set up a containment boom after a gasoline spill from the weekend failure of part of a pipeline in northwest Washington, but federal regulators reported no signs of any fuel reaching the Skagit River. About 25,660 gallons of gasoline …
People Moves: Marsh Announces Group of Promotions in UK, Global Placement Team; Klingspor Succeeds Papanikolaou as CEO, Allianz Central Europe
This edition of International People Moves details appointments at Marsh and Allianz Central Europe. A summary of these new hires follows here. Marsh Announces Group of Promotions in UK, Global Placement Team Marsh, the insurance brokerage business of Marsh McLennan, …