INSURANCE NEWS
Cleanup Begins After Hurricane Idalia Hits Gulf Coast
Cleanup and recovery from Hurricane Idalia began on Thursday along Florida’s Gulf Coast, where property damage, loss of life and power disruptions paled in comparison to the last major hurricane that struck the state nearly a year ago. Idalia crashed …
Australia Settles Lawsuit Over Climate-Related Systemic Risks to Sovereign Bonds
The Australian government has agreed to settle a class action lawsuit which alleged it had failed to disclose climate change-related risks to investors in the country’s sovereign bonds, court filings showed. The terms of the settlement, if approved by the …
Investors Call on Proxy Adviser ISS to Overhaul its Net-zero Proxy Advice
More than 30 investors have called on proxy advisor ISS to improve the guidance it gives to clients wanting companies to decarbonize faster, saying its policies had failed to keep pace with rising climate change risks. Institutional Shareholder Services (ISS) …
NFL-Style Lawsuit and Brain-Injury Concerns Hang Over Rugby World Cup
Alix Popham traveled the world as a rugby player. He played 33 times for Wales and competed at two Rugby World Cups, and even got to meet Nelson Mandela before a match in South Africa. Or so he’s told. He …
India’s Reliance Hunts for CEO of Jio Financial Services’ Newly Created Insurance Biz
Reliance Industries Ltd. is in discussions with global and domestic executive headhunters to find a leader for Jio Financial Services Ltd.’s newly created insurance business, according to people familiar with the matter. Executives from Reliance have met several firms in …
Coal Producers Forced to Self-Insure as They Are Cut Adrift by Insurers
Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for …
FBI, European Partners Seize Major Malware Network in Blow to Global Cybercrime
U.S. officials said Tuesday that the FBI and its European partners infiltrated and seized control of a major malware network used for more than 15 years to commit a gamut of online crimes including crippling ransomware attacks. They then remotely …
King Insurance Partners Adds Hartley to the Team in Florida
King Insurance Partners, a brokerage based in Gainesville, Florida, has acquired Hartley Insurance Services, the firms announced this week. Hartley, with offices in Port Orange, Florida, was founded in 2012 by Paul Hartley. He will remain in charge of its …
New York AG: Trump Should Be Found Liable For Bank, Insurance Fraud, Even Before Trial
New York’s attorney general on Wednesday asked a state judge to declare, even before the start of a trial, that Donald Trump committed fraud by submitting false statements to bankers and insurers and overstating his net worth by up to …
Risk Strategies Acquires Benefit Design Group in Oregon
Risk Strategies acquired Benefit Design Group LLC in Oregon. The purchase of BDG adds to Risk Strategies’ presence in the Pacific Northwest. It builds upon the firm’s previous acquisition of the Fournier Group, a commercial and personal lines retail insurance …
Connecticut Adds Cancer Presumption to Firefighters’ Workers’ Compensation
A new Connecticut law making it easier for firefighters who develop cancer to receive workers’ compensation benefits will go into effect on October 1, 2023. Approved as part of the state budget bill, this law creates a presumption during the …
Ohio Bureau of Workers’ Compensation Announces 3.9% Rate Reduction for Public Employers in 2024
The Ohio Bureau of Workers’ Compensation announced a 3.9% rate reduction for the state’s public employers, a a rate cut that will go into effect Jan. 1, 2024. The rate reduction will result in nearly $8 million less in premiums …