INSURANCE NEWS
Aon: Business Leaders Say Recession Looms; What Sets Prepared Companies Apart?
Despite a majority of global business leaders expecting a recession within the next year, many still have a positive outlook on the economy. Some leaders even reported feeling very prepared heading into a recession. That’s according to Aon’s 2022 Executive …
Wells Fargo Says SEC Is Examining its Hiring Practices
Wells Fargo & Co said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed with the SEC, the fourth-largest …
Exclusion Wording Not Clear, Florida Appeals Court Says in Air Quality Case
Despite repeated references to “water damage,” the ambiguous wording of a policy exclusion by Southern-Owners Insurance Co. does not necessarily bar those types of claims, a Florida appeals court found in a win for a well-known mold testing firm. “While …
State Inspector Cites Regulatory Lapses in Fatal New York Limo Crash
New York regulators failed to do all they could to sideline a poorly maintained stretch limousine that careened down a hill and crashed in 2018, killing 20 people, according to a state watchdog. State Inspector General Lucy Lang released a …
Arthur J. Gallagher & Co. Acquires Minnesota’s f3 Companies
Arthur J. Gallagher & Co. announced the acquisition of the f3 Companies. Terms of the transaction were not disclosed. Included in the acquisition are Burnsville, Minnesota-based f3Logic, LLC; Burnsville, Minnesota-based f3Investment Management, LLC; Richmond, Virginia-based Financial Consultants of America, Inc.; …
Oklahoma House Fires Leaves 8 Dead
BROKEN ARROW, Okla. (AP) – Eight people were found dead in a burning Tulsa-area house in what was being investigated as multiple homicides, police said. The fire was reported about 4 p.m. Thursday, Oct. 27 in a quiet residential area …
USI Acquires Oklahoma’s Beasley & Company
USI Insurance Services announced the acquisition of Tulsa, Oklahoma-based Beasley & Company. Founded in 1992, Beasley & Company is a regional benefit consulting firm specializing in retirement, executive compensation and health & welfare benefit plans. The company’s operations will be …
South Dakota Sees Increase in Medical Pot Cards
SIOUX FALLS, S.D. (AP) – South Dakota has seen a rapid rise in people registering to use medical marijuana in recent months, as many obtain their patient cards through temporary consultation sites rather than their regular medical providers, a state …
Maryland’s Boudreau Agency Joins The Liberty Company
Boudreau Insurance of Annapolis, Maryland has joined The Liberty Company Insurance Brokers network. The deal marks Liberty’s first partnership in Maryland. Boudreau Insurance specializes in personal and commercial risks, with an emphasis on boat and yacht coverage. The agency was …
Comment to Pro-Union Starbucks’ Worker Was Threat, U.S. Labor Board Alleges
Starbucks Corp. interim Chief Executive Officer Howard Schultz made comments during an April meeting with employees that US labor officials view as an illegal anti-union threat, according to a complaint Friday. In that meeting, an employee asked Schultz about retaliation …
Judge Dismisses $6.5M Suit in 2016 Nevada Plane Crash
A federal judge has ruled against the family of a pilot killed in 2016 who sought more than $6.5 million from in a lawsuit that blamed air traffic controllers for a fatal plane crash near Reno-Tahoe International Airport. The widow …
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner said. Commissioner Michael Conway provided the …