INSURANCE NEWS
Viewpoint: What Role Could Insurance Premium Finance Have Played in Recent Bank Failures?
On March 10, 2023, while the majority of Americans were diligently toiling away in their jobs, very few people likely understood the silently ticking time-bomb sitting inside the balance sheets of many of our bank-brethren in our important banking industry. …
A.J. Gallagher Acquires The Andersen Group in Virginia
Global insurance broker Arthur J. Gallagher & Co. announced it has acquired Chantilly, Virginia-based The Andersen Group. The Andersen Group is a retail insurance agency serving non-profit trade associations, government contractors and engineering services companies in the greater Washington, D.C. …
AM Best Issues Improved Outlooks for Barnstable Group in Massachusetts
AM Best has revised its outlooks to stable from negative and affirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” (Excellent) for the members of Barnstable Group, which includes Barnstable County Mutual Insurance Co. …
Georgia Trial Lawyer Surrenders License After Using Insurance Settlement Proceeds
The Georgia Supreme Court has accepted the voluntary license surrender of a plaintiffs’ attorney who had been in practice for more than 45 years. Richard L. Middleton Jr., of Savannah, acknowledged that he had violated Georgia Bar rules by using …
Appetite for Catastrophe Exposures Returns but Reinsurers Maintain Discipline in Mid-Year Renewals: Brokers
Capacity was more readily available during the mid-year renewals, which brokers described as “orderly,” in comparison to the turbulent January renewals. At the same time, prices saw some moderating trends while reinsurers continued to maintain underwriting discipline, according to reports …
‘Ongoing Storm Rule’ Clears Costco of Liability for Customer’s Fall While Snow Falling
A New Jersey business is not liable for injuries suffered by a customer who falls in its snow-covered parking lot in the middle of a snowstorm, before the lot can be cleared. A Costco Wholesale store in North Plainfield, and …
Oakbridge Insurance Acquires JHA Risk Management in North Carolina
Georgia-based Oakbridge Insurance Agency, one of the largest independent agencies in the country, has continued its growth with the acquisition of JHA Risk Management agency in North Carolina. JHA, based in Rocky Mount, specializes in personal and commercial property and …
People Moves: AIG’s Jainchill Joins Lockton as U.S. Cyber & Technology Product Leader
Lockton Adds Jainchill as U.S. Cyber & Technology Product Leader Lockton in New York, N.Y has hired Chuck Jainchill as its U.S. cyber and technology product leader. Jainchill joins Lockton after 16 years at AIG, where he most recently served …
Cleanup Begins After Asphalt Binder Spill into Montana’s Yellowstone River
Globs of asphalt binder that spilled into Montana’s Yellowstone River during a bridge collapse and train derailment could be seen on islands and riverbanks downstream from Yellowstone National Park a week after the spill occurred, witnesses report. Officials with the …
Churchill Downs Extends Baffert Suspension Through 2024
Churchill Downs is extending Hall of Fame trainer Bob Baffert’s suspension through 2024, keeping the two-time Triple Crown winner from entering horses in the Kentucky Derby and other races for an additional year. Churchill Downs Inc. announced Monday it was …
Investigators Visit Carolina Amusement Park After Crack Found in Roller Coaster
State investigators were on site Monday at a North Carolina amusement park after a crack was discovered on a support beam on one of their popular roller coasters. Tommy Petty, chief of the state Department of Labor’s Amusement Device Bureau, …
NHTSA Seeks Updates From Tesla in Autopilot Probe
U.S. auto safety regulators said on Thursday they are seeking updated responses and current data for an ongoing probe into 830,000 Tesla vehicles and the automaker’s advanced driver assistance system Autopilot. The National Highway Traffic Safety Administration (NHTSA) sent Tesla …