INSURANCE NEWS
South Korean Firm Hanwha Plans $2.5B in Solar Panel Plants in Georgia
A South Korean solar panel maker will invest more than $2.5 billion to build factories in Georgia, hiring 2,500 new employees and making components usually manufactured outside the United States, the company announced Wednesday. Qcells, a unit of Hanwha Solutions, …
Geico Saves $5.2M as Award to Woman Who Contracted STD in Car Is Overturned
Geico is off the hook, at least for now, from paying a Missouri woman $5.2 million because she said she contracted a sexually transmitted disease in the car of a man who is insured by the company. The Missouri Supreme …
WTW Launches Online Platform for Aerospace Clients
Insurance broker WTW launched a customized online platform for the aerospace sector which enables access to WTW expertise across the globe on a 24/7 basis. The creation of an online knowledge platform will allow clients to access technical expertise, news …
People Moves: Howden Italy Taps Aon’s Casini as CEO; BIBA Extends Evans’ Tenure as Chair; Sedgwick Promotes Simoncic to President, Property and International
This edition of International People Moves details appointments at Howden Italy, the British Insurance Brokers’ Association (BIBA), and Sedgwick. A summary of these new hires follows here. Howden Italy Taps Aon’s Casini as CEO Howden, the London-based insurance broker, announced …
Mosaic Launches 7th Regional Underwriting Hub With Opening of Dubai Office
Bermuda-based Mosaic Insurance has opened an office in Dubai, United Arab Emirates, as a strategic regional platform to access risks from across the Middle East, Africa, and South Asia (MEASA) market. Three specialist underwriters, along with a finance team member, …
Britain’s Royal Mail Faces Severe Disruption to Export Services After ‘Cyber Incident’
Britain’s Royal Mail said on Wednesday it was facing severe disruption to its international export services following what it described as “a cyber incident.” “We are temporarily unable to despatch items to overseas destinations,” Royal Mail, one of the world’s …
France’s Verlingue Buys Broker Cabinet Depeyre and MGA Depeyre Solutions
French broker Verlingue, a subsidiary of Adelaïde Group and specialist in corporate protection, is continuing its external growth strategy with two new acquisitions that will consolidate its presence in the Grand Est region of France. Financial details of the deal …
Closed Illinois Plant’s Ex-Operator Settling Suits For $408M
WILLOWBROOK, Ill. (AP) – The former operator of a suburban Chicago medical equipment cleaning plant has agreed to pay $408 million to settle hundreds of lawsuits alleging that the now-shuttered facility exposed residents to a toxic industrial gas and caused …
Missouri Dairy Producer to Settle $140K Disability Discrimination Suit
ST. LOUIS – Hiland Dairy Foods, a Springfield, Missouri-based producer and distributor of dairy products, will pay $140,000 to resolve a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the …
UK Financial Services Firms Fear Rise in Loan Defaults: CBI/PwC Survey
An increasing number of the UK’s financial services firms expect a rise in loan defaults in the next three months, the latest reminder of a gloomy economic outlook. A balance of 23% of respondents to the CBI/PwC Financial Services Survey …
People Moves: TDI Announces New Executive Leadership; Cadence Hires Bryant as Cyber Practice Leadership
TDI Announces New Executive Leadership The Texas Department of Insurance (TDI) has announced its chief deputy commissioner and new leadership for its Administrative Operations, Life and Health, and General Counsel divisions. Jessica Barta is TDI’s new general counsel. Since 2014, …
Indianapolis Fire Sends 5 Into Cardiac Arrest
INDIANAPOLIS (AP) – An Indianapolis apartment fire left a 28-year-old man and four children ages 1, 3, 12 and 14 unconscious, in cardiac arrest and hospitalized in critical condition, authorities said Tuesday. Indianapolis firefighters performed CPR on the five victims …