INSURANCE NEWS
People Moves: Island Insurance in Hawaii Names Hokama Vice President
Island Insurance named Reid Hokama vice president, personal lines and marketing. Reid has nearly three decades of financial experience and most recently was vice president and investment strategy manager in Central Pacific Bank’s Wealth Management Group. Other previous positions include …
America’s Venice? Study Finds New York City Is Slowly Sinking From Its Own Weight
If rising oceans aren’t worry enough, add this to the risks New York City faces: The metropolis is slowly sinking under the weight of its skyscrapers, homes, asphalt and humanity itself. New research estimates the city’s landmass is sinking at …
State Farm’s California Halt Reflects Overall Poor Underwriting Experience, Ratings Agency Says
State Farm’s announcement last week that the carrier was no longer writing new personal or business property casualty policies in California “reflects the poor underwriting experience for California homeowners’ writers,” a ratings agency said on Wednesday. Fitch Ratings issued a …
People Moves: VIAA Promotes, Hires Team Members
Valley Insurance Agency Alliance Promotes, Hires Team Members Valley Insurance Agency Alliance recently promoted Amy Russell to lead pod marketer and hired Michael Welch as commercial marketer. Russell, who previously served as marketing specialist and account manager, has over 30 …
Louisiana Dept. of Insurance Reminds Residents of Roof Coverage Ahead of Hurricane Season
The Louisiana Department of Insurance (LDI) is reminding residents to review and assess their roof insurance coverage ahead of the 2023 Atlantic Hurricane Season, which begins June 1. LDI recommends policyholders review their policy to see what deductibles they have …
Environmental Platform Urges 1,600-Plus High-Emitting Firms to Disclose Data
More than 1,600 companies identified by non-profit platform CDP as having the biggest impact on the environment are not disclosing environmental data, it said as it launched its latest campaign to get firms to provide the information. CDP, which has …
Minnesota Governor Prepares to Sign Bill Legalizing Recreational Cannabis
ST. PAUL, Minnesota (AP) – Minnesota Democratic Gov. Tim Walz is scheduled to sign a bill Tuesday that legalizes recreational marijuana for people over the age of 21, making Minnesota the 23rd state to legalize the substance for adults. Former …
Hazards at Oklahoma Dollar General Stores Lead to $267K in Penalties
When federal workplace safety investigators opened inspections in December 2022 at two Dollar General stores in southeast Oklahoma, they found blocked exit routes and walkways exposing employees to fire hazards, the same types of violations investigators discovered in stores across …
People Moves: Hong Kong’s FWD Names Former SiriusPoint CEO as Group CFO; Lloyd’s Names Beazley’s Turk as Chief Underwriting Officer
This edition of International People Moves details appointments at FWD Group and Lloyd’s of London. A summary of these new hires follows here. Hong Kong’s FWD Group Names Former SiriusPoint CEO as Group CFO FWD Group Holdings Ltd. announced the …
SEC Seeks to Recover Funds from NC Insurance Agent’s Alleged Investment Scam
The U.S. Securities and Exchange Commission has asked a federal court to bar a North Carolina insurance agent and financial advisor from trading securities and to disgorge ill-gotten gains from a real estate scam, according to court papers filed Tuesday. …
Markets/Coverages: U.S. Cannabis-Focused MGU Opens for Business in Europe
The North American managing general underwriter CannGen Insurance Services (CannGen) has launched a European operation amid expectations that the continent’s legal cannabis market is set for substantial growth. CannGen Insurance Europe SRL (CGEU) now operates as a property/casualty MGU, providing …
U.S. Warns China Could Hack Infrastructure, Including Pipelines, Rail Systems
The U.S. State Department has warned that China was capable of launching cyber attacks against critical infrastructure, including oil and gas pipelines and rail systems, after researchers discovered a Chinese hacking group had been spying on such networks. A multi-nation …