INSURANCE NEWS
UK at High Risk of ‘Catastrophic’ Cyberattack Affecting Critical Infrastructure: Report
The UK is at high risk of a “catastrophic” ransomware attack that could bring critical national infrastructure to a standstill and cost the country tens of billions of pounds, according to a parliamentary report. Departments responsible for national infrastructure across …
Farmers Direct Asks for 20% Auto Rate Increase in West Virginia
The West Virginia Insurance Commissioner’s Office is accepting comments on a proposed 19.9% auto liability insurance rate increase for Farmers Direct Property and Casualty Insurance Co. The proposed increase is one of the latest in auto insurance price hikes across …
Illinois Roofing Contractor Fined $275K for Failing to Provide Fall Protection
Federal workplace safety inspectors found a Palatine, Illinois contractor did not provide roofing employees with required fall protection, exposing them to the risk of falls from elevation, the construction industry’s leading cause of workplace deaths, the Occupational Safety and Health …
Relation Insurance Acquires Kansas-Based Kane Insurance Agency
Relation Insurance Services acquired the assets of Kane Insurance Agency. The transaction went into effect on December 1, 2023 and terms of the transaction were not disclosed. Serving Illinois individuals and businesses for more than 60 years, Kane is located …
Family of Chicago Woman Who Died in Hotel Freezer Accepts $10 Million Settlement
CHICAGO (AP) – The family of a Chicago woman who froze to death after she became locked in a hotel freezer has agreed to a $10 million legal settlement. Kenneka Jenkins` mother, Tereasa Martin, will receive about $3.7 million, according …
Washington College Student Dies, Others Sickened in Apparent Carbon Monoxide Leak
Authorities brought in outside experts to find the source of carbon monoxide believed to have killed one student and sickened two others at a college in Washington. The experts, from a forensic engineering firm that specializes in carbon monoxide investigations, …
Webster Bank to Buy Insurance Settlement Funds Administrator
Stamford, Connecticut-based Webster Bank has agreed to acquire Ametros Financial Corp., a Wilmington, Massachusetts-based custodian and administrator of medical funds from insurance claim settlements. The bank is acquiring the firm from funds managed by Long Ridge Equity Partners. Terms were …
Oakbridge Expands with M D Iverson Group in Georgia
Oakbridge Insurance Agency has continued its expansion plans with the acquisition of M D Iverson Group, an Atlanta-area agency and brokerage that focuses on commercial products and high-net-worth individuals. M D Iverson will continue to operate its Fairburn, Georgia, office. …
South Carolina Education Chief Wants Police to Have Maps of Schools for Response
GILBERT, S.C. (AP) — South Carolina’s top education official plans to ask lawmakers for $5 million to put a digital map of every school in the state online and make those maps immediately available on police officers’ mobile devices as …
Some UK Financial Services Firms Keep Flexible Working to Boost Women in Workforce
As firms across the City of London consider clamping down on working from home, Schroders Plc is sticking to its policy of letting workers decide how much time they spend in the office. “Flexible working provides a strong link to …
New Hampshire Insurance Regulator, New England College Offer Course With Internship
The New Hampshire Insurance Department and New England College have announced they will partner for the second year of a course aimed at teaching students about insurance and providing staffing for the industry. Scheduled to commence in the Spring 2024 …
Maersk Tankers’ Fleet of Fuel Carriers Could Opt to Avoid Red Sea as Attacks Escalate
Maersk Tankers is to insist its fleet of fuel carriers have the option to avoid the Red Sea following an escalation in attacks on merchant ships in the area. The decision, set out in a notice seen by Bloomberg, doesn’t …