INSURANCE NEWS
MGA Volante Global Launches Branch in Singapore, Managed by Asta
Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate, has launched Volante Singapore, according to Asta, the Lloyd’s third-party managing agent. “The launch of Volante Singapore is an early milestone in our own expansion into Asia. The region represents …
People Moves: Stephens Insurance Adds Bettina to Houston Team as P&C SVP
Stephens Insurance Adds Bettina to Houston Team as P&C SVP Stephens Insurance, LLC, an affiliate of Stephens Inc., has hired Chris Bettina as a senior vice president within the property and casualty practice. Bettina brings nearly 15 years of experience …
Renault Customers to Lodge Criminal Complaint in France Over Faulty Engines
Renault could face prosecution in France over faulty engines as a group of customers plans to lodge a criminal complaint against the carmaker next week, the group’s lawyer said on Friday. “We are going to file a complaint on Monday …
Report: Medical Professional Liability Headwinds Continue Despite Improvement in 2022
A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 2017. However, the industry still has …
Gallagher Keeps Expanding with HR Firm Acquisitions
Arthur J. Gallagher & Co. has acquired Nashville-based Bernard Benefits, an employee benefits brokerage serving clients in Tennessee, Indiana and Texas. Bernard, which focuses on small businesses, is a subsidiary of Bernard Health. Bernard’s Brian Tolbert, Matt Kleymeyer and the …
Regulators Turn Up Pressure on Air Bag Inflator Firm to Recall Devices
The U.S. government is turning up the pressure on Tennessee-based ARC Automotive to recall 67 million potentially dangerous air bag inflators by ordering the company to answer questions under oath and threatening fines if it doesn’t respond. NHTSA argues that …
Coal Firms Owned by Family of WV Governor Sued Over Unpaid Penalties
Thirteen coal companies owned by the family of West Virginia Gov. Jim Justice are being sued over unpaid penalties for previous mining law violations that the federal government says pose health and safety risks or threaten environmental harm. Justice, who …
3M, DuPont to Pay $100 Million to End Georgia Lawsuit Over Polluted Drinking Water
3M Co., DuPont de Nemours Inc. and other makers of per-and polyfluoroalkyl substances, or PFAS, have agreed to pay more than $100 million to resolve a Georgia city’s lawsuit claiming the chemicals polluted its drinking water, according to a person …
Chemical Makers to Set Aside $1.19B to Settle PFAS-Related Claims in U.S.
Chemical makers Chemours Co., DuPont de Nemours Inc., and Corteva Inc. said on Friday they would set up a $1.19 billion fund to settle PFAS-related drinking water claims in the United States. The companies are facing several lawsuits in the …
Former Hiscox CEO Masojada Named Chair of SiriusPoint
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment of Bronek Masojada as chair of the company’s Board of Directors, effective immediately. Masojada, who joined the board on May 2 this year, is an insurance market veteran with …
Kansas Insurance Commissioner: No Workers’ Comp Fund Assessment for FY 2024
Kansas Insurance Commissioner Vicki Schmidt announced there will not be a Workers Compensation Fund assessment this year. Carriers, pools, and self-insured businesses will not be required to pay into the assessment fund for fiscal year (FY) 2024. This will reduce …
Amputation Frees Woman From Collapsed Iowa Building
DAVENPORT, Iowa (AP) – One moment Lexus Berry and her wife were rushing toward the door of their fourth-floor apartment, and the next, Quanishia “Peach” Berry was gone. Their apartment had disappeared into a heap of bricks and steel far …