INSURANCE NEWS
Football Player Araiza Dropped From California Rape Lawsuit
Former Buffalo Bills punter Matt Araiza is being dropped from a lawsuit filed by a woman who alleged she was raped by San Diego State University football players in 2021, it was announced. The woman agreed to dismiss Araiza from …
Trump Again Denied Presidential Immunity in Carroll Defamation Case
A federal appeals court panel has rejected former President Donald Trump’s attempt to shield himself from a defamation suit by claiming presidential immunity. The three-judge Second Circuit Court of Appeals panel agreed with a federal district court that Trump waived …
Allianz D&O Outlook: ESG Claims ‘Here to Stay’ and AI Rapping at the Door
While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns associated with environmental, social, and governance issues. Agree or not with the premise …
Parent of Key SiriusPoint Shareholder Goes Into Receivership; Ratings Impact Neutral
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced that the parent company of a key shareholder has been taken into private receivership by its lenders in Singapore. CMIG International Holding Pte Ltd (CMIH) is the parent company of CM …
SC Appeals Court: Insurer’s Bad Faith Meant Award Was 10X Policy Limit
Jose Castillo didn’t ask his insurance company to defend him from a lawsuit that alleged his shoddy construction caused millions of dollars in water damage to a townhouse project, so his insurer didn’t provide a defense. That turned out to …
Markel International Launches Specialty Division, Led by 2 Hires From Brit
Markel, the insurance operation within Markel Group Inc., has launched a Specialty practice within its International Wholesale division, which will be spearheaded by Tom Hillier as divisional managing director. The Specialty unit will be supported by the addition of a …
Warmer Winters Could Mean More Tornadoes in December, Like Those in NC, TN
Residents of Garner, North Carolina, have spent the week cleaning up after an F1 tornado damaged more than 20 homes and left four of them uninhabitable. The Raleigh News & Observer reported that warmer winters already have resulted more storms …
Howden Acquires Denmark’s NORTH Risk
Howden, the London-based insurance group, announced an agreement to acquire Denmark’s fourth largest insurance intermediary NORTH Risk, thereby establishing a retail presence in the Danish market and strengthening its geographical presence in the Nordic region of Europe. NORTH was founded …
Range Rovers Become Thief-Magnets, Causing Insurance Premiums to Skyrocket
Tim Coen, a property investor, loved his Range Rover Sport but decided it was time to go green. He wanted to trade in the gas-guzzling sport utility vehicle for an electric Porsche. There was a snag, however. A string of …
AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s
AXIS Capital Holdings Ltd. announced it has received in-principle approval from Lloyd’s to launch a syndicate that will focus on providing capacity for new energy projects with a critical role in supporting the transition to net zero. Through Energy Resilience …
NTSB Finds Chicago Train Operator Was Not at Fault for November Crash
CHICAGO (AP) – The operator of a Chicago commuter train that collided with snow- removal equipment last month was not at fault for the crash, which could have been prevented by a more sophisticated signal system, the National Transportation Safety …
TWIA Board Votes to Maintain Agent Commissions at 16% After Hearing Testimony on Impact
The Texas Windstorm Insurance Association held its final quarterly meeting on Dec. 12 in Corpus Christi, where the board of directors voted to approve the association’s budget for 2024. The board also voted to keep agent commissions unchanged after listening …