INSURANCE NEWS
American Airlines Must Face Lawsuit Over ESG Retirement Investing
American Airlines must face a lawsuit claiming it failed to prudently oversee employee retirement funds because it used asset managers that pursued sustainable investment strategies, a federal judge in Fort Worth, Texas ruled. U.S. District Judge Reed O’Connor said pilot …
Sotheby’s, Russians, Theft: Insurer Must Defend in High-end Miami Realty Suit
In the glittering world of high-end south Florida real estate, One Sotheby’s International Realty is known as one of the biggest players in the market. This month, the firm is handling the rental of NBA superstar Kevin Durant’s penthouse in …
ALKEME Acquires Ferrante Insurance Services in California
ALKEME acquired Ferrante Insurance Services in Concord, California. Ferrante Insurance Services specializes in providing commercial risk services to contractors throughout California including general liability, workers’ compensation, business auto and bonds. ALKEME is an insurance agency providing businesses and individuals commercial …
Texas Governor Names Ladner Chair, Appoints Houston To Risk Management Board
Texas Governor Greg Abbott has appointed Jeffrey Houston to the Risk Management Board for a term set to expire on February 1, 2025. Additionally, the Governor named Gerald Ladner, Sr. chair of the board. The Board coordinates, monitors, and directs …
Louisiana Lawmakers Push for Tougher Penalties in Response to Surge in Carjackings
BATON ROUGE, La. (AP) — In the moments before Linda Frickey was dragged to her death during a fatal carjacking, the 73-year-old had been sitting in her parked vehicle in New Orleans when she was surrounded by four teenagers. The …
People Moves: VIAA Names Drda Alliance Coordinator; Alliant Names Cohan Employee Benefits Group VP in Kansas City
VIAA Names Drda Alliance Coordinator Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois, hired David Drda as an alliance coordinator. Drda has 12 years of insurance industry experience, previously …
NC Insurance Agent with Multiple Businesses Pleads Guilty to Tax Evasion
A North Carolina insurance agent has pleaded guilty to tax evasion and could face up to five years in prison and a $250,000 fine, a federal prosecutor said Wednesday. Arturo Barcenas Gonzalez, is owner of Barcenas Insurance Agency and Barcenas …
Oklahoma Captive Insurance Program Achieves 31% Net Gain in 2023
Oklahoma’s captive insurance program reported a 31% net gain in 2023, the Oklahoma Insurance Department said. OID issued 20 new licenses in 2023 with six dissolutions, resulting in a net gain of 14 new captive insurers. Oklahoma’s total number of …
City of Chicago Sues Oil and Gas Corporations for Climate Change Deception
The City of Chicago is suing six oil and gas corporations and their largest trade association for deceiving Chicago consumers about the climate change dangers associated with their products, mayor Brandon Johnson announced this week. The city filed a nearly …
Nonprofits Ensnared in Georgia Push to Restrict Bail Funds
ATLANTA (AP) — When she was behind bars in Georgia, Nia Thomas would use toothpaste to stick handwritten flyers to the wall and spread the word about community bail funds that could pay inmates’ bonds, no strings attached. “I was …
Biden Approves Disaster Declaration for North Dakota December Ice Storm
BISMARCK, N.D. (AP) — President Joe Biden has approved North Dakota Gov. Doug Burgum’s request for a major disaster declaration related to a Christmastime ice storm that toppled power lines and left thousands of people without power. Burgum’s office announced …
Terror in Fire Mitigation Industry: New York Gang Member Convicted of Extortion, Racketeering
A gang member who ran a fire restoration company has been convicted of using violence, threats of violence, and extortion to terrorize and dominate the fire restoration industry in New York City. After presiding over a two-week bench trial in …