INSURANCE NEWS
Global Insurance M&A Drops Sharply in First Half 2023
Regulatory changes and a reduced appetite for insurtechs are driving down insurance carrier mergers and acquisitions (M&A), a new report has found. M&A were down 17% worldwide during the first half of 2023, according to Clyde & Co’s Insurance Growth …
Political Violence in Polarized US at Its Worst Since 1970s
As Kristen King’s husband lay dying in their yard from three gunshots to his head, the 911 operator asked her: Did she know who killed him – or why? Sobbing, King identified the shooter as her neighbor in the small …
Embattled Louisiana Law Firm Raised $40M from Florida Hedge Fund, Partner Says
McClenny Moseley & Associates, the embattled law firm that filed thousands of hurricane-damage lawsuits in Louisiana, raised a total of $40 million from private investors, one of its founding partners said during a court hearing on Tuesday. Zachary Moseley provided …
Heritage Insurance Reports Third Straight Quarter of Profit after Shedding Policies
Tampa-based Heritage Insurance Holdings reported a $7.8 million profit for the second quarter of this year, along with an improved combined ratio, thanks in part to higher premiums and reduced exposure in Florida. The black ink is a marked improvement …
Takeaways from Our Conversation on Insurtechs in Cannabis
You don’t hear a lot about insurtechs and cannabis, but one firm aims to change that paradigm. SquareRisk principals say they aim to transform the wholesale distribution model for specialty insurance, building partnerships with more than 15 specialty insurance carriers …
Jamie Dimon, JPMorgan Board Defeat Shareholders’ Jeffrey Epstein Lawsuit
A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein. In a Wednesday evening decision, U.S. District Judge Jed Rakoff …
AccuWeather: Damage and Economic Loss from Wildfires in Hawaii $8B to 10B
AccuWeather’s preliminarily estimate of the total damage and economic loss from the wildfires burning in Hawaii is from $8 billion to 10 billion. The worst of the fires hit the Island of Maui, with the Lahaina area especially hard hit. …
People Moves: Assurex Global President and CEO Hildebrandt Elected to Western National Mutual Insurance Company’s Board of Directors
Assurex Global President and CEO Hildebrandt Elected to Western National Mutual Insurance Company’s Board of Directors Dean Hildebrandt, president and CEO of Assurex Global, headquartered in Columbus, Ohio, was elected to join the board of directors of Western National Mutual …
Missouri’s Cameron Mutual Placed Into Rehabilitation
Cameron Mutual Insurance Company and its wholly owned subsidiary, Cameron National Insurance Company, were placed into rehabilitation this week by the Circuit Court of Cole County, Missouri. Missouri Department of Commerce and Insurance (DCI) Director Chlora Lindley-Myer was named rehabilitator …
Zurich American Off the Hook on Harvard’s Legal Costs in Affirmative Action Case
Even the smartest institutions in the land can miss deadlines – and can lose $15 million in insurance coverage because of it, a fedeal appeals court decided Wednesday. The U.S. 1st Circuit Court of Appeals upheld a lower court ruling …
Attorneys in MMA Case Argue Punishment Disproportionate, Seek Fair Treatment
Three former attorneys for the McClenny Moseley & Associates are urging a judge to lift a nine-month suspension that bars them from practicing in the federal Western District of Louisiana and pin blame for the law firm’s ethical issues on …
Fire at a Texas Apartment Complex Causes Hundreds of Evacuations
CEDAR PARK, Texas (AP) __ A fire with flames shooting up to 60 feet (18 meters) in the air damaged an apartment complex and condominiums near Austin, Texas, and forced hundreds of residents from their homes but caused no major …