INSURANCE NEWS
Ryan Specialty Acquires Texas’ Point6
Ryan Specialty announced it has signed a definitive agreement to acquire certain assets of Point6 Healthcare, LLC (“Point6”), a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third party administrators. …
Florida Commissioner Names Two to Top Regulatory Spots
Florida’s insurance commissioner has appointed two longtime veterans of the department to high-level regulatory positions. Virginia Christy’s name will be familiar to anyone who has read Florida Office of Insurance Regulation consent orders when property insurers are deemed insolvent. Since …
Viewpoint: Impact of Florida Tort-Reform Bill Becomes Clear, But Litigation Expected
On March 24, 2023, Governor Ron DeSantis signed into law House Bill 837, resulting in the enactment of sweeping tort reform (“the Act”). The Act impacts various aspects of the civil justice system. The most salient features of this latest …
Airlines Urge Co-Operation to Help Curb Emissions
Airlines on Tuesday called for co-operation on a broad front to reach “very tough” emission targets and pledged at the end of a three-day summit to release interim climate targets next year. The International Air Transport Association (IATA), grouping 300 …
Jury Should Decide ‘Borrowed Employee’ Liability, New Jersey High Court Affirms
The New Jersey Supreme Court has affirmed that whether an employer is vicariously liable under the borrowed-employee doctrine is a question of fact that should be decided by the jury, not the judge, unless the evidence is obviously one-sided. The …
Ford Recalls 125,000 Vehicles Over Engine Failures That Can Cause Fires
Ford Motor Co said on Tuesday it is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire. The recall covers various Escape and Lincoln Corsair SUVs and Maverick compact …
Chaucer CEO Fowle to Step Down
Chaucer said Group CEO John Fowle has decided to step down at the end of June. Fowle has been with Chaucer since 2002 and was appointed CEO in January 2017, having previously served as Chaucer’s chief underwriting officer. Rob Callan …
Ryan Specialty to Acquire ACE Benefit Partners in Idaho
Ryan Specialty signed a definitive agreement to acquire certain assets of ACE Benefit Partners Inc. in Eagle, Idaho. The acquisition is expected to close in July 2023. ACE Benefit Partners is a medical stop loss general agent founded in 2014. …
UAE to Tighten Insurance Cover for Ships Flying its Flag
The United Arab Emirates is tightening insurance requirements for vessels registered under its flag, according to a government advisory, amid growing concerns over ships sailing without top tier cover in the event of an oil spill. Ships typically have protection …
Insurance Broker CBIZ Buys Information Security Consultant Pivot Point
Cleveland-based insurance and financial advisory firm CBIZ, Inc. announced that it acquired information security consulting firm, Pivot Point Security, of Hamilton, New Jersey, effective June 1, 2023. Founded in 2001, PPS serves small and middle market businesses with certification and …
Lawsuit Claiming Racism at Tesla Draws Almost 240 Black Workers Saying ‘Me Too’
A Black former assembly line staffer at Tesla Inc. is moving to add hundreds of other workers to his 2017 lawsuit in which he called the electric-car maker’s production floor a “hotbed for racist behavior.” Marcus Vaughn says class-action status …
Google Antitrust Suit Over Ad Tech Sent Back to State Court
A judicial panel on Monday transferred antitrust litigation against Alphabet Inc.’s Google filed by state attorneys general back to a federal court in Texas, citing a law passed by Congress in December. The decision by the Judicial Panel on Multidistrict …