INSURANCE NEWS
Sedgwick Acquires Appraisal Service in Mississippi
Sedgwick, the global benefits, risk management and claims management firm, has acquired Appraisal Service of Mississippi Inc., an auto and property valuation firm. The move further expands Sedgwick’s presence in auto and property claims, the company said in a news …
Oakbridge Adds Another: Wilson Insurance in Georgia
Oakbridge Insurance Agency has continued its growth plans with the acquisition of of Wilson Insurance in Waycross, Georgia. The move is the latest expansion for Atlanta-based Oakbridge, which said it is now one of the largest independent agencies in the …
Takeaways from Our Conversation on Insuring Cannabis Opportunities
Cannabis tax revenue in Colorado fell nearly $100 million in 2022, while California, Oregon, Nevada, and Washington all saw sales decline as the industry began its first downturn. Conversely, sales were up big time in Michigan, Illinois and Massachusetts. It …
Hub Acquires Brady Risk Management of New York
Global insurance broker Hub International Limited reported that it has acquired the assets of Brady Risk Management, Inc. of Huntington, New York. Brady Risk is a risk management, risk transfer and insurance firm that serves key industry segments, including restaurant …
Hannover Re Latest Company to Leave Net-Zero Insurance Alliance
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …
California Workers’ Comp Committee OK’s .03% Higher Pure Premium Filing
The Workers’ Compensation Insurance Rating Bureau of California’s Governing Committee voted on Wednesday to authorize the WCIRB to submit a Sept. 1, 2023 pure premium rate filing to the state’s Insurance Commissioner on average 0.3% above the average approved September …
TWIA to Maintain $4.6B Total Funding for 2023 Storm Season
The Texas Windstorm Insurance Association (TIWA) Board of Directors on Tuesday elected to forego additional reinsurance beyond the $2.24 billion it selected in January, bringing the insurer of last resort’s total funding for the 2023 storm season to $4.5 billion. …
Rural Texans Oppose Wind and Solar Development
FRANKLIN COUNTY — Volunteer firefighter Jim Emery grew emotional as he spoke to the crowd at an anti-solar development town hall meeting in his northeast Texas community. Emery, who worked for decades at the nearby coal power plant before it …
Ohio Doctor Acquitted in 14 Patient Deaths Sues Health System
DETROIT (AP) – An Ohio doctor acquitted in the deaths of 14 patients who died after they were given painkillers has filed a lawsuit against a national Catholic health system that operates the hospital where he worked in the intensive …
Ex-Cardinal Charged in Wisconsin With Sex Abuse
MADISON, Wis. (AP) – The defrocked Roman Catholic cardinal who became the face of the church’s clergy sex abuse crisis has been charged in Wisconsin with sexually assaulting an 18-year-old man more than 45 years ago, court records show. A …
AM Best Gives A- Rating to At-Bay Specialty; Fischel Hired as At-Bay CFO
At-Bay said insurance industry rating agency AM Best has assigned At-Bay Specialty Insurance Company a financial strength rating of A- (Excellent). At-Bay Specialty Insurance Company is a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) carrier, acquired by …
Snap Says It’s Wrongly Dragged Into Social Media Addiction Suits
nap Inc. says it can’t be sued for allegedly addicting young users and contributing to a mental-health crisis because its “ephemeral” messaging service is “fundamentally different” from other platforms including TikTok and Instagram that are at the center of a …