INSURANCE NEWS
People Moves: Tokio Marine Boosts UK Trade Credit Division With Underwriting Hires From Atradius, Coface; BHSI Promotes Ruddlesdin to Head of PI & Cyber in London
This edition of International People Moves details appointments at Tokio Marine and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Tokio Marine Hires Underwriters from Atradius, Coface for UK Trade Credit Tokio Marine HCC International …
Homeowners of America Applies for Texas Reciprocal Exchange
Porch Group, Inc. announced that its insurance business, Homeowners of America (“HOA”), has filed an application to form and license a Texas reciprocal insurance exchange (a “Reciprocal”) with the Texas Department of Insurance (TDI). If approved and fully implemented by …
AM Best Downgrades Credit Ratings of Topa in California
AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+ (Good) from “a-” (Excellent) of Topa Insurance Co. in Calabasas, California, and its subsidiary, Dorchester Insurance Company Ltd. …
Moseley Law Firm, Mitchell Adjusting Under More Legal Troubles
A judge in Louisiana and a prosecutor in Texas have taken action to block two separate insurance fraud schemes: One by a law firm whose lawyers admitted filing claims on behalf of homeowners it did not represent and another by …
Arthur J. Gallagher & Co. Acquires Indiana’s SBP
Arthur J. Gallagher & Co. today announced the acquisition of Fort Wayne, Indiana-based Stewart, Brimner, Peters & Company, Inc. (SBP). Terms of the transaction were not disclosed. SBP is a retail insurance broker offering a variety of commercial and personal …
Reliance Acquires Assets of Truck Team Insurance in Utah
Reliance Partners acquired the assets of Truck Team Insurance in Salt Lake City, Utah. Truck Team Insurance Owner Brent Tate will also join Reliance Partners’ team as vice president of sales. He has more than 20 years of commercial insurance …
NSM Insurance Adds 3 Medical Stop Loss, Managed Care Specialty Firms
Pennsylvania-based insurance program specialist NSM Insurance Group has completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance. The firms are Sequoia Reinsurance Services in Minnesota, and IOA Re’s two …
‘Climate Time Bomb Ticking’, Warns UN Chief, Urging Faster Cuts to Emissions
U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate …
California Care Home Charged in Connection With COVID Deaths
A Southern California residential care home company and three of its managers have been charged in connection with 14 COVID-related deaths at one of its facilities three years ago, prosecutors said. The criminal complaint alleges Silverado Senior Living Management failed …
Hawaii Officers, Sued Charged in Alleged Crash Coverup
Honolulu prosecutors filed charges against four police officers alleging a cover-up in connection with a high-speed car chase that they say resulted in a crash and a traumatic brain injury to the driver of another car. Honolulu Prosecuting Attorney Steve …
Alabama Jury: Delivery Worker to Get $1.9M After Fall at Dollar General Store
An Alabama jury has decided that Dollar General stores must pay almost $2 million to a delivery worker who was injured when a ramp collapsed at a store. Driver Jason Agee in 2019 was pushing a rolling cart full of …
Chile Completes $630M Earthquake Insurance Deal With World Bank
Chile has agreed to an earthquake insurance program with the World Bank protecting it from $630 million worth of damage from strong earthquakes, in an effort to shore up risks to public debt from possible natural disasters. The insurance will …