INSURANCE NEWS
EU Agrees to Path to Compete in Clean Tech Production
European Union policymakers agreed new rules on Tuesday to promote local production of equipment for solar and wind power, fuel cells and other clean technologies and help Europe’s industry compete with Chinese and U.S. rivals. The bloc aims to set …
CoreLogic: California Storms Put 543K Homes at Risk of Flash Flood Damage
CoreLogic estimated that across the greater Los Angeles area, nearly 543,000 single- and multifamily homes with a combined reconstruction cost value (RCV) of more than $258 billion are at risk of flash flood damage. Reconstruction cost value is the cost …
Regulators Detail Progress from California, Oregon, and Washington Insurers on 2015 Paris Agreement Targets
A new report warns insurance companies could face billions of dollars in losses if they stay on the current course of investments that contribute to climate change, at “a scale exceeding some of the worst wildfires in California’s history.” The …
People Moves: Hotchkiss Promotes Lindsey to VP of Sales
Hotchkiss Insurance Promotes Gary D. Lindsey to Vice President of Sales Hotchkiss Insurance, an independent insurance agency in Texas, announced the promotion of Gary D. Lindsey to the position of vice president of sales. Lindsey, CIC, CRM, has been an …
Railroads Say They’re Making Safety Changes to Reduce Derailments After Ohio Crash
OMAHA, Neb. (AP) — The changes railroads announced after last year’s fiery crash in East Palestine, Ohio, haven’t yet made a major difference, statistics show, and reforms have stalled in Congress. A few key measures in the latest Federal Railroad …
People Moves: Burns & Wilcox Names Wood Head of Professional Liability Practice; Ryan Specialty Promotes Jankovic to Chief Audit and SOX Officer
Burns & Wilcox Names Wood Head of Professional Liability Practice Burns & Wilcox, headquartered in Farmington Hills, Mich., hired Andy Wood as vice president and practice group leader, professional liability. Most recently, Wood, based in Chicago, Ill., led Hiscox across …
TWIA to Consider 1:100 PML for 2024 Storm Season at Upcoming Meeting
The Texas Windstorm Insurance Association’s (TWIA) Actuarial & Underwriting Committee will meet on Tuesday, Feb. 13 to discuss and potentially make a recommendation to the Board of Directors for determining TWIA’s statutorily required 1:100 probable maximum loss (PML) for the …
Bridge Specialty Opens Dallas, Texas Office
Bridge Specialty Insurance Brokerage (BSIB), who provides access to an extensive range of wholesale and specialty insurance solutions, announced the opening of its Dallas, Texas office. The new office will provide additional capabilities for the retail partners that currently work …
People Moves: Falvey Group Names Olsen to Marine Cargo
Falvey Insurance Group Names Olsen as Vice President, Marine Cargo Falvey Insurance Group, headquartered in North Kingstown, Rhode Island, named Jason Olsen as vice president, marine cargo. Olsen is based in Seattle, Washington, focusing on a California-based underwriting portfolio. He …
Germany Hit by Strikes as Workers Demand Better Pay and Conditions
Germany has been hit by a series of strikes since the start of 2024 as unions press for higher wages and improved working conditions to make up for high inflation and staff shortages in Europe’s largest economy. The industrial action …
Honda Recalls 750,000 Vehicles Over Air Bag Defect
Honda Motor Co said on Tuesday it was recalling 750,000 vehicles in the United States over a defect involving air bags which could deploy unintentionally during a crash. The front passenger seat weight sensor may crack and short circuit, failing …
People Moves: Schaninger Joins Arthur Hall; Virginia Reappoints WC Commissioner Marshall
Arthur Hall Insurance, headquartered in West Chester, Pennsylvania, named Mike Schaninger its small business unit (SBU) team lead and account manager. Schaninger currently serves as an adjunct professor at Widener University. He previously worked as medtech sales manager at Inogen …