INSURANCE NEWS

People Moves: Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions; BMS Re Hires 3 for Fac Team; QBE Canada Hires Liberty Mutual’s Mason as U/W Mgr, Property

This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has appointed Ali Shahkarami as …
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Canada’s Record Wildfire Season Set to Worsen as Heat Builds

Canada is bracing for higher-than-normal wildfire activity to continue into August, as soaring temperatures and drought turn much of the country’s vast forests into kindling. The Canada fire season, which normally runs from April to September, is barely half over …
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Tampa Installer Banned for Life After Leaving Hundreds of Pools Unfinished

Florida’s attorney general has taken extraordinary measures against a Tampa-based pool company, shutting down the company and securing a lifetime business ban against the owner, who left hundreds of swimming pools unfinished around the area. In a consent judgment in …
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World Sees Hottest June on Record as North Atlantic Temperatures Rise

Last month was the warmest June of the past three decades globally, with several places in western Europe hitting all-time records for the month, according to a report by Europe’s earth observation agency Copernicus. Ocean temperatures also rose to their …
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Nevada Secures $285M Opioid Settlement with Walgreens

The state of Nevada has reached a $285 million settlement with Walgreens regarding the pharmacy chain`s role in the opioid epidemic, the state`s top lawyer announced. The last in a series of multiyear settlements with pharmaceutical companies, retailers and others, …
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Ransomware Criminals Are Dumping Kids’ Private Files Online After School Hacks

The confidential documents stolen from schools and dumped online by ransomware gangs are raw, intimate and graphic. They describe student sexual assaults, psychiatric hospitalizations, abusive parents, truancy — even suicide attempts. “Please do something,” begged a student in one leaked …
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Two New Jersey Firefighters Died Battling Fire on Cargo Ship Carrying 5,000 Cars

Two firefighters were killed battling a blaze that began when cars caught fire deep inside a cargo ship carrying 5,000 cars at a New Jersey port, Newark`s fire chief said Thursday. Responding firefighters found five to seven vehicles already on …
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Ukraine Finance Chief Sees Urgent Need for War-Risk Insurance

Ukraine’s wartime defense spending will remain high next year, underscoring the need for allies to provide war-risk insurance to help attract investment, the nation’s finance minister said. “Without international support, without war-risk insurance, we will not attract as much investment …
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Siemens Energy’s Turbine Troubles Rattle Wind Sector

Siemens Energy’s disclosure of quality issues in its newer wind turbine models has exposed broader challenges in a sector suffering from rushed development, soaring materials costs and a flawed market design. Siemens Energy shocked the wind sector in late June …
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World Insurance Buys Schlegel & Schlegel Brokers on Cape Cod

Insurance broker World Insurance Associates announced that it acquired the business of Schlegel & Schlegel Insurance Brokers Inc. of West Yarmouth, Massachusetts on July 1, 2023. Schlegel & Schlegel has been providing home, auto and business insurance to customers in …
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90 Vermont Schools Sue Monsanto Over Toxic PCB Contamination of Buildings

Dozens of Vermont school districts have sued chemical giant Monsanto over toxic contamination in educational buildings from now-banned industrial chemicals known as PCBs. Last year, Vermont became the first state in the country to require older schools to test their …
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Generali Buys U.S. Asset Manager Conning Under Deal With Cathay Life

Generali has agreed to buy Connecticut-based asset manager Conning Holdings as part of a partnership with Cathay Life, a unit of Taiwan’s Cathay Financial Holding, the Italian insurer said on Thursday. The deal, structured as an exchange of assets without …
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