INSURANCE NEWS
Cannabis Vote Has Oklahoma Hungry to Rake in Green From Texas
Tens of thousands of Texans from the bustling Dallas-Fort Worth area routinely drive across the Red River to gamble in glitzy, Las Vegas- style tribal casinos or to relax at cabins or swim and ski in lakes that dot southern …
Half of California Freed From Drought Thanks to Rain, Snow
Tremendous rains and snowfall since late last year have freed half of California from drought, but low groundwater levels remain a persistent problem, U.S. Drought Monitor data showed. The latest survey found that moderate or severe drought covers about 49% …
Hub Acquires Assets of Glacier Insurance in Montana
Hub International Ltd. acquired the assets of Glacier Insurance of Libby Inc. in Montana. Kevin Peck and Kim Peck, Owners, and the Glacier Insurance of Libby team will join Hub Mountain. Glacier Insurance is an independent agency providing commercial and …
West Virginia House Backs Cap on Workers’ Damages in Deliberate Intent Cases
Republicans in the West Virginia House passed a bill last week that would cap some of the damages workers and their families can receive if their employer deliberately puts them in harm’s way on the job. The 52-45 vote was …
People Moves: Aon Names Mgoqi as CEO for South Africa; Tokio Marine Kiln Appoints AIG’s Green to Head Aviation War Risks
This edition of International People Moves details appointments at Aon and Tokio Marine Kiln. A summary of these new hires follows here. Aon Names Mgoqi as CEO for South Africa Aon plc, a leading global professional services firm, has named …
Arthur J. Gallagher & Co. Acquires UK’s Bay Risk Services Ltd.
Arthur J. Gallagher & Co. announced its reinsurance division Gallagher Re has acquired the business and assets of UK-based Bay Risk Services Ltd., a member of the Optio Group. Terms of the transaction were not disclosed. Founded in 2016 as …
Ariel Re Raises $270M of Capital to Support Growth Opportunities
Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has announced it has secured $270 million of capital from five new institutional and family office investors to support exciting growth opportunities in 2023. Ariel Re …
Ford Taps Vehicle Data to Attract Customers in Commercial Van Market
Ford Motor Co.’s push to use reams of data generated by its vans and trucks – from engines to oil filters or brake pads – to attract more customers in the European and U.S. commercial vehicle market plays out on …
Before Fatal Quake Collapse, Turkish Building Skirted Code Thanks to Erdogan Policy
MALATYA, Turkey (Reuters) — The Trend Garden Residence, an upscale serviced apartment building in the Turkish city of Malatya, boasted a gym, freshly-furnished rooms and a roof-top cafeteria. But when a powerful earthquake jolted the city in the early hours …
Indonesia to Relocate Residents or Move Fuel Facility After Fire Kills 16
Indonesia will relocate residents living near a fuel-storage fire that killed 16 people or remove the depot owned by state energy company Pertamina to a safer location, President Joko Widodo said on Sunday. The decision will rest with State-Owned Enterprise …
Judge: Michigan School, Staff Immune From Shooting Lawsuits
PONTIAC, Mich. (AP) – A Michigan judge has ruled that staff and administrators at Oxford High School cannot be sued for a mass shooting that left four students dead and seven others wounded. Oakland County Circuit Judge Mary Ellen Brennan …
P/C Carriers Losing Ground to MGAs in Talent War
During a webinar about an insurance industry labor market survey last month, an industry recruiter said that insurance carriers are losing ground to managing general agents in the war for talent. “On the property and casualty side, primarily in the …