INSURANCE NEWS
Kansas’ Conrade Insurance Group Discloses Data Breach
Conrade Insurance Group this week reported a data breach upon identifying unusual activity in its email system. The Newton, Kansas-based insurance agency posted a Notice of data Event on its website stating an investigation determined that one employee email account …
Ryan Specialty Q4 Net Income Up 28% on E&S Expansion
Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year, while full year …
Boat Rental Protection, Direct-Action Truck Bills Moving Forward in Georgia Assembly
Georgia legislation that could have a significant impact on insurance litigation and losses for transportation-related businesses are moving forward in the state General Assembly. The Georgia House of Representatives late last month approved House Bill 994, which would give some …
Supreme Court Opinion on Maritime Law Solidifies Insurer’s Choice-of-Law Clause
A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state insurance …
Texas Fires Trigger Drop for Xcel With Law Firm Alleging Link
The worst-ever Texas wildfire sent shares of Xcel Energy Inc. plunging after a law firm said it might be linked to the disaster, the latest sign that potential ties between power companies and blazes are triggering volatility in once-sleepy utility …
People Moves: AXIS Promotes Ashby to Chief Commercial Officer; Miller Launches Parametric Team Headed by Glenister From Mastercard
This edition of International People Moves details appointments at the re/insurer AXIS Capital Holdings and insurance broker Miller. A summary of these new hires follows here. AXIS Promotes Ashby to Chief Commercial Officer AXIS Capital Holdings Ltd. announced it has …
Miami Beach Office Asking for Top Rent Signs First Tenant
New York-based hedge fund J. Goldman & Co. signed a lease at a new Miami Beach office building that’s seeking some of the highest rents ever seen in the market. J. Goldman agreed to take roughly 10,000 square feet (929 …
Sisters of Man Fatally Shot by Police in Chicago Suburb File Federal Lawsuit
CHICAGO (AP) — The sisters of a man fatally shot in his home this month by suburban Chicago police filed a federal lawsuit Wednesday against the officers and their department, alleging wrongful death and other counts. Kyenna McConico and Kennetha …
New York’s High Court Broadens ‘Foreign Substances’ That Cause Slippery Surfaces
New York’s highest court has put contractors and property owners on notice that they are responsible for slippery surfaces caused by substances that might be very different than the substances they typically worry about as creating a slip and fall …
People Moves: Marsh McLennan Names Liston US, Canada Chief Commercial Officer
Marsh McLennan, headquartered in New York, appointed David Liston as U.S. and Canada chief commercial officer (CCO) effective immediately. Liston previously served as Marsh U.S. and Canada corporate segment leader, and recently had an expanded role across Marsh and Mercer, …
Last Year Was Safest Ever to Fly, With No Jetliner Fatalities
Last year was the safest ever for commercial flying by a number of measures, the airline industry’s global lobby said, with no fatal accidents involving passenger jets in 37.7 million flights. No hull losses to passenger jets were recorded either, …
Marsh McLennan, Ukraine, Lloyd’s Expand Insurance Facility for Non-Military Shipments
Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide war risk insurance for grain shipments and other critical food …