INSURANCE NEWS
Ford Recalls 2.24M Ford Explorer SUVs Over Trim-Retention Clips
Ford Motor said Wednesday it was recalling 2.24 million older Explorer sport utility vehicles worldwide because trim retention clips may not be properly engaged. The recall includes 1.89 million SUVs in the United States and covers 2011 through 2019 model …
Webster Bank Closes Acquisition of Medical Claims Firm Ametros
Connecticut-based Webster Bank has completed the acquisition of Ametros Financial Corp., a firm that administers medical claims settlements. Ametros provides post-settlement medical administration for those receiving funds from workers’ compensation and liability settlements though a technology platform, CareGuard. CareGuard provides …
Specialty Market ‘Particularly Attractive’; Reason to Pause Elsewhere: Berkley CEO
W.R. Berkley CEO W. Robert Berkley, Jr. said he’s still got eyes on the specialty market, but maintains a cautious, more disciplined outlook on some lines of business, such as professional liability—especially public D&O. “The specialty market in general continues …
Risk Strategies Acquires Medical Liability Agency in Virginia
National specialty insurance brokerage Risk Strategies announced it has acquired Professional Risk Associates, Inc. (PRA), a Virginia-based specialty healthcare insurance agency focused on medical professional liability. Founded in 1989 and licensed in 36 states, PRA counts more than 6,000 medical …
Mississippi Investment Firm Launches Insurance Agency
A Mississippi investment firm is braving a tight market and entering the commercial property/casualty world with a startup insurance agency. Twain Capital, formed in 2021, has launched Twain Insurance Agency, based in Ridgeland, Mississippi. Principals John Lawrence, Tom Davis and …
Maryland Settles Lawsuit With Tri-Gas & Oil Over Fuel Leak at Storage Facility
Maryland Attorney General Anthony G. Brown announced the settlement of a lawsuit against an Eastern Shore fuel storage facility, including a $600,000 penalty for pollution to groundwater and a nearby creek. The settlement resolves a lawsuit brought against Tri-Gas & …
911 Call Shows What Happened When Young Man Entered Wrong House in SC
COLUMBIA, S.C. (AP) — A concerned college student asked police if they’d seen his fraternity brother early one Saturday morning after he’d sent the 20-year-old home from a sports bar in an Uber. He hadn’t heard from his friend in …
Elderly Man Fatally Shoots Wife, Self at Florida Assisted Living Facility
ST. PETERSBURG, Fla. (AP) — An elderly man fatally shot his wife and then himself at an assisted living facility in Florida, police said Tuesday. Staff at the Addington Place at College Harbor facility found the couple dead in the …
Cyclone Kirrily Makes Landfall in Australia as Severe Storm
Australia is being lashed by damaging winds and heavy rainfall as Severe Tropical Cyclone Kirrily makes landfall, the biggest system to hit the Queensland coast in almost five years. Kirrily is crossing near Townsville as a Category 3 system, and …
Disney Asks for Delay in Board’s Lawsuit Due to ‘Distracted District’
ORLANDO, Fla. (AP) — Disney this week requested a second delay in a state court case involving its legal battle with Gov. Ron DeSantis’ appointees over who controls Walt Disney World’s governing district, as the company accused them and the …
EU Auditors Say Real CO2 Emissions From Most Cars Have Not Fallen
Real CO2 emissions from most passenger cars on EU roads are the same as 12 years ago despite reduction targets set in 2010 for newly registered vehicles, putting in jeopardy Europe’s green agenda, the European Court of Auditors (ECA) said …
After $70 Billion Hit, Insurers Wake Up to Growing Risks of Severe Convective Storms
The insurance industry is grappling with a new kind of weather risk that’s increasingly driving its biggest loss category. While no single weather event caused more than $10 billion in losses for insurers last year, there were 37 thunderstorms that …