INSURANCE NEWS

Markets/Coverages: Everspan, MGA Ledgebrook Partner on GL Program

Everspan Group said it has partnered with specialty MGA Ledgebrook on a new program offering general liability and supported excess liability to mid-market businesses. Coverage will be distributed through wholesale brokers. Built upon the foundational expertise of underwriters John Mullen …
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Supreme Court Tackles Religious Bias Claim Against Postal Service

The U.S. Supreme Court on Tuesday is set to hear an evangelical Christian former mail carrier’s claim of religious discrimination against the U.S. Postal Service after he was disciplined for refusing to work on Sundays in a case that could …
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Markets/Coverages: Resolute Global Partners Launches New Type of Reinsurance Contract

Resolute Global Partners, an investment adviser specializing in insurance and reinsurance, announced the launch of “Footprint,” a new type of reinsurance contract, which the firm created in collaboration with global reinsurance broker Gallagher Re and catastrophe modeling firm Karen Clark …
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China Expected to Cut Fine on Ant Group to About $700M: Sources

Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms. …
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Pro MGA Global Solutions Announces Incubation Partnership With MGA Nirvana

Pro MGA Global Solutions, the independent managing general agent (MGA) incubator, announced its incubation partnership with specialty MGA Nirvana. Nirvana is led by CEO Kabir Chanrai and Executive Chairman Rob Jones, along with Thomas Mannsdorfer, head of Europe, and Glenn …
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Climate Activists Sue EU for Labeling Gas and Nuclear Investments as ‘Green’

Greenpeace and other campaign groups are set to take the European Commission to court on Tuesday, seeking to overturn European Union rules that class nuclear energy and natural gas as climate-friendly investments. The groups are targeting the EU’s “taxonomy,” a …
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People Moves: WTW Names Doddington N.A. Proposition Leader; HUB Adds to Private Client Leadership Team

WTW Names Doddington North America Proposition Leader WTW has appointed Laura Doddington as North America proposition leader – pricing, product, claims and underwriting personal lines for insurance consulting and technology. Doddington is based in Toronto, Canada. Doddington joins London, England-based …
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Nine More States Join Federal Lawsuit Against Google Over Ad Tech

Nine states, including Michigan and Nebraska, have joined a U.S. Department of Justice lawsuit against Alphabet’s Google which alleges the search and advertising company broke antitrust law in running its digital advertising business, the department said on Monday. The states …
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Supply Chain Hack in Japan Provides Warning for Businesses Across the Globe

Kojima Industries Corp. is a small company and little-known outside Japan, where it produces cup holders, USB sockets and door pockets for car interiors. But its modest role in the automotive supply chain is a critical one. And when the …
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Japanese Insurer’s Plan to Sell Foreign Debt Flashes Market Warning

A Japanese insurer with $65 billion of assets plans to offload all its currency-hedged foreign debt holdings, foreshadowing what may become a renewed wave of selling by some of the biggest investors in global bond markets. Fukoku Mutual Life Insurance …
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FTX Celebrity Promoters Say Crypto Investors Cannot Sue Over Accounts

Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing …
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Church Tried to Exclude Named Storms, But Appeals Court Says Coverage Due Anyway

In 2015, the Shilo Christian Center in Melbourne, Florida, cut its property insurance premiums in half by asking its insurer to drop coverage for named windstorms. Hurricane Matthew struck the next year, ripping the roof of the church and unleashing …
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