INSURANCE NEWS
A Year After Uproar over Demotech Ratings, Little Has Changed, But Questions Remain
A little more than a year ago, the Demotech financial rating firm ignited a storm of controversy in Florida when it sent letters to a reported 16 insurance carriers, warning that the companies were about to have their financial stability …
Police Respond to ‘Chaos’ as Florida Condo Owners Outraged Over Higher Insurance Fees
Shouts, shoves and chaos broke out and police had to be called when condominium owners in Pembroke Pines, Florida, objected to being shut out of an association meeting called to discuss higher fees due to spiking insurance premiums. Fortune magazine …
Oakbridge Acquires Georgia-based Cole Agency
Oakbridge Insurance Agency, one of the larger independent agencies in the country, has expanded again with the acquisition of the Cole Agency in Montezuma, Georgia. Cole has specialized in poultry insurance since 1989 but also offers coverage plans for others …
Maui Fire Lays Bare Utility Missteps Mirrored Across the Country
When flames ripped through the drought-parched town of Paradise in 2018, destroying homes and killing 85 in California’s deadliest-ever wildfire, it was a wake-up call to power companies across the country. Electric lines would ultimately be blamed for the blaze, …
Hawaii Wildfires Killed at Least 111, Burned 2K-Plus Homes and Businesses
The Hawaii wildfires have killed at least 111 people with many still unaccounted for, and they have burned more than 2,000 burned homes and businesses. CNN reported that Hawaii Gov. Josh Green said it’s likely that more than 1,000 residents …
Potential of ‘Life-Threatening Flooding’ from Hilary in SoCal Mountains, Deserts and Southwest Nevada
AccuWeather on Friday issued an alert warning of the potential of a “life-threatening, flooding disaster” in the mountains and deserts of Southern California and far southwest Nevada due to Hurricane Hilary. In the area, primarily east of Palm Springs and …
Texas Seeks Millions From Planned Parenthood in First-Of-Its-Kind Suit Against Abortion Provider
AUSTIN, Texas (AP) __ Texas wants Planned Parenthood to give back millions of dollars in Medicaid reimbursements __ and pay far more in fines on top of that __ in a lawsuit that appears to be the first of its …
People Moves: Ryan Specialty Appoints Guerville to Chief Underwriting Officer of Ryan Specialty Underwriting Managers
Ryan Specialty Appoints Guerville to Chief Underwriting Officer of Ryan Specialty Underwriting Managers Ryan Specialty, headquartered in Chicago, Ill. appointed Kathy Guerville to chief underwriting officer of its underwriting management specialty, Ryan Specialty Underwriting Managers. Guerville has 15 years of …
Private Equity Firm Hg Weighs Options for €1.5 Billion Insurance Broker GGW
Hg is weighing options for GGW Group, including a sale that could value the German insurance broker at about €1.5 billion ($1.6 billion), people familiar with the matter said. The software-focused private equity firm is working with advisers as it …
PFAS Contamination at Former Air Force Base in Michigan Prompts Deployment of Groundwater Treatment Systems
LANSING, Mich. (AP) – Groundwater treatment systems will be installed near a military base in northern Michigan to address contamination from high levels of toxic, widely used “forever chemicals,” the U.S. Department of Defense announced Thursday. Two systems will be …
Ohio to Vote on Legalizing Recreational Marijuana in November
COLUMBUS, Ohio (AP) – A proposal to legalize recreational adult use of marijuana in Ohio was cleared Wednesday to appear on statewide ballots this fall after the Republican-led state Legislature failed to act on it. The measure would allow adults …
Warren Buffett Gives $27M in Berkshire Hathaway Stock to an Unnamed Charity
Investor Warren Buffett has donated Berkshire Hathaway stock worth $27 million to an unnamed charity. Buffett disclosed the gift of 50 Class A shares of Berkshire stock in a filing with the Securities and Exchange Commission late Wednesday. This donation …