INSURANCE NEWS

Brown & Brown Dealer Services Buys Connecticut Auto Dealer F&I Firm

Brown & Brown Dealer Services has acquired Finance Builders, a Canton, Connecticut firm providing finance and insurance (F&I) products and sales support to auto dealers in Connecticut and Massachusetts. The Finance Builders operations, owned by Donald Ellis, will become part …
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Washington University Cop Accused of Sexual Misconduct

A Washington State University police sergeant accused of sexual misconduct while on duty in Pullman has resigned. Police Sgt. Matt Kuhrt submitted his resignation effective this week, KXLY-TV reported. A university investigation found Kuhrt engaged in predatory grooming behavior, made …
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4 Workers Injured by Gas Release at Los Angeles Airport

Four workers were injured, including one critically, by a release of carbon dioxide in a Los Angeles International Airport utility room, authorities said. One man was initially in grave condition but was upgraded to critical on arrival at a hospital, …
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World Insurance Acquires CDR Group in Connecticut

National insurance broker World Insurance Associates reports that it acquired CDR Insurance Group, Inc. of Waterbury, Connecticut on October 1, 2022. CDR was founded in 1992 by Rick Rice. The agency provides commercial and personal insurance products and services in …
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40 States Obtain $16M Settlements with Experian, T-Mobile Over Data Breaches

A coalition of 40 state attorneys general has obtained two multistate settlements for $12.67 million with credit data firm Experian concerning data breaches in 2012 and 2015 that compromised the personal information of millions of consumers nationwide. The attorneys general …
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Former Danske Bank CEO Cleared in $322M Investor Lawsuit

Danske Bank’s former chief executive Thomas Borgen was cleared by a Danish court on Tuesday of any liability for shareholder investment losses linked to the lender’s involvement in one of the world’s largest money-laundering scandals. A group of 155 institutional …
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World Bank to Host Facility for Climate Disaster Risk

The World Bank will host a new facility that will help countries that suffer heavy economic loss due to climate change-driven disasters, its president David Malpass said on Tuesday. Malpass announced the new instrument, called the Global Shield Financing Facility, …
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Australian Corporate Watchdog Investigates Firms for ‘Greenwashing’

Australia’s corporate watchdog is investigating several companies and financial institutions for “greenwashing,” or exaggerated claims regarding environment-friendly investment and products, a senior official said on Tuesday. The Australian Securities and Investment Commission (ASIC) has been increasing its oversight of climate-related …
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Rochester Diocese $55M Sex Abuse Settlement Does Not Include Insurance Amount

The Roman Catholic Diocese of Rochester will pay $55 million to survivors of sexual abuse committed by clergy members under a settlement announced by Rochester Bishop Salvatore Matano last week. The $55 million from the upstate New York diocese, its …
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Grounded Oil Supertanker Could Take Month to Free: Indonesian Navy

Indonesian authorities said on Monday it could take up to a month to free a crude oil tanker stuck in its waters, while the United States slapped sanctions on the vessel for alleged links to Hezbollah and a branch of …
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Reuters: Crypto Exchange Binance Helped Iran Firms Trade $8B Despite U.S. Sanctions

Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show. Almost all the funds, some $7.8 billion, flowed between …
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Lloyd’s Broker Servca Acquires MedMal Specialist Medicas

Independent Lloyd’s retail broker Servca Group announced the acquisition of Medicas, an independent insurance specialist that offers a wide range of medical indemnity, medical malpractice and healthcare liability insurance for healthcare groups, entities and individual practitioners. Financial details of the …
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