INSURANCE NEWS
AIG Sues Newly Launched Dellwood Insurance and its Founders
American International Group and a group of its excess and surplus lines subsidiaries have filed suit against Dellwood Insurance Group and three former AIG executives who launched the nationwide E&S lines insurance holding company about a month ago. According to …
Top US Egg Maker Idles Texas Plant After Bird Flu Outbreak
Cal-Maine Foods Inc., the biggest egg producer in the US, has culled roughly 3.6% of its flock after birds at a Texas facility tested positive for avian flu, adding to concerns over a widening outbreak. Nearly 1.6 million laying hens …
People Moves: Tokio Marine HCC CPLG Names New VPs and Head of Emerging Markets
Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), a member of the Tokio Marine HCC group of companies based in Houston, Texas, named two new vice presidents and a head of emerging markets. CPLG appointed Patrick Gallic as …
People Moves: BHSI Appoints 3 in Transactional Liability, Claims and Customer & Broker Engagement Teams
Berkshire Hathaway Specialty Insurance (BHSI) named a new head of Transaction Liability in Canada and has also promoted two executives in Europe within the claims and customer & broker engagement teams. Chres Lee has been named head of Transactional Liability …
Jensten Acquires UK Specialist Broker Henry Seymour & Co.
Jensten, the London-based independent insurance broking group, announced the acquisition of Henry Seymour & Co. The deal, which is subject to regulatory approval, will introduce to the business a team of 22 professionals, an office located in Sutton, England, as …
IPFS Acquires Texas’ Stonemark
Imperial PFS (IPFS) has acquired Stonemark, Inc., a privately held premium finance organization. The transaction closed on April 1, 2024. Frisco, Texas-based Stonemark’s existing client base of over 4,000 agencies, along with their entire team, are joining IPFS with this …
US, Britain Announce Partnership on Artificial Intelligence Safety, Testing
The United States and Britain on Monday announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next-generation versions. Commerce Secretary Gina Raimondo and British Technology Secretary Michelle Donelan signed a memorandum of understanding …
States Across the US Midwest Are on Alert for Tornadoes: Weather Watch
Storms and tornadoes are in the forecast for states across the Midwest in the US, with further weather warnings and advisories stretching further east. There is a moderate risk of severe thunderstorms — which could bring hail, tornadoes, and straight-line …
Devonshire Underwriting Launches MGA Specializing in Transactional Risk Solutions
Devonshire UW Ltd. and its affiliate Devonshire UW Europe GmbH (known collectively as “Devonshire Underwriting”) announced the launch of a managing general agent specializing in transactional risk solutions. Focused on positively disrupting the transaction risk insurance market, the MGA will …
Florida Supreme Court Lets Recreational Marijuana Stay on November Ballot
U.S.-listed shares of pot producers rose premarket on Tuesday after the Florida Supreme Court on Monday allowed voters to decide on the fate of recreational use of marijuana in the state through a referendum on the November ballot. If voters …
Trump $175 Million Bond Arranged by Billionaire Supporter’s Firm
A billionaire Donald Trump supporter whose California company is known for subprime auto loans offered to arrange the former president’s $175 million appeal bond in New York state’s civil fraud suit, though he said politics had nothing to do with …
Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
In September, Hyundai and Kia issued a recall of 3.4 million of its vehicles in the United States with an ominous warning: The vehicles should be parked outdoors and away from buildings because they risked catching fire, whether the engines …