INSURANCE NEWS
NOAA Increases Prediction for Atlantic Hurricane Season to “Above-Normal”
The National Oceanic and Atmospheric Administration is increasing its prediction for the ongoing 2023 Atlantic hurricane season to “above-normal” activity. Warmer-than-normal sea surface temperatures across much of the tropical and subtropical Atlantic are likely to offset the usually limiting atmospheric …
People Moves: WTW Hires Bryce From Magnes for Personal Lines, Canada; Markel Taps PwC’s Feng as Warranty & Indemnity U/W; RSA Names Godfrey as Transformation Dir.
This edition of International People Moves details appointments at WTW, Markel and RSA Insurance. A summary of these new hires follows here. WTW Hires Bryce for Personal Lines, Canada Insurance broker WTW announced the appointment of Allison Bryce as the …
Antarctica Risks ‘Cascades of Extreme Events’ as Earth Warms: Study
Extreme weather in Antarctica, including ocean heat waves and ice loss, is set to become more intense unless urgent policy action reduces the burning of fossil fuels, a new study has found — the latest to sound the alarm on …
Norfolk Southern Falls Short of Safety Standards, Says Federal Regulators
OMAHA, Neb. (AP) __ Norfolk Southern made improvements after one of its trains derailed, caught fire and spilled toxic chemicals near an Ohio town, but the company is nowhere near the “gold standard for safety” it is striving to be, …
Growing ‘Greenlash’ Fuels Fears for Europe’s Environmental Ambitions
A growing ‘greenlash’ against Europe’s environmental agenda has not so far derailed its decarbonization plans, but looming elections could put future climate and nature measures at risk. The European Union (EU) has burnished its role as a leader on climate …
Grass Fire Near Austin, Texas Destroys Building, Displacing Hundreds of Residents
CEDAR PARK, Texas (AP) – A grass fire near Austin, Texas, spread into trees near an apartment complex and condominiums, destroying one of the buildings and forcing hundreds of residents from their homes. Two people suffered minor injuries in the …
Train Derails in Swiss Gotthard Tunnel, Halting Key Freight Route
A freight train derailed in the Gotthard tunnel in Switzerland, blocking passage through a key route linking Northern and Southern Europe. The accident in the world’s longest railway tube — which goes through the Gotthard massif in the Swiss Alps …
Ukraine Announces ‘Humanitarian Corridor’ for Ships Stuck in Black Sea Ports
Ukraine announced a “humanitarian corridor” in the Black Sea on Thursday to release cargo ships trapped in its ports since the outbreak of war, a new test of Russia’s de facto blockade since Moscow abandoned a deal last month to …
Global Insurance M&A Drops Sharply in First Half 2023
Regulatory changes and a reduced appetite for insurtechs are driving down insurance carrier mergers and acquisitions (M&A), a new report has found. M&A were down 17% worldwide during the first half of 2023, according to Clyde & Co’s Insurance Growth …
Political Violence in Polarized US at Its Worst Since 1970s
As Kristen King’s husband lay dying in their yard from three gunshots to his head, the 911 operator asked her: Did she know who killed him – or why? Sobbing, King identified the shooter as her neighbor in the small …
Embattled Louisiana Law Firm Raised $40M from Florida Hedge Fund, Partner Says
McClenny Moseley & Associates, the embattled law firm that filed thousands of hurricane-damage lawsuits in Louisiana, raised a total of $40 million from private investors, one of its founding partners said during a court hearing on Tuesday. Zachary Moseley provided …
Heritage Insurance Reports Third Straight Quarter of Profit after Shedding Policies
Tampa-based Heritage Insurance Holdings reported a $7.8 million profit for the second quarter of this year, along with an improved combined ratio, thanks in part to higher premiums and reduced exposure in Florida. The black ink is a marked improvement …