INSURANCE NEWS
Louisiana Dept. of Insurance to Hold Hurricane Prep Event
The Louisiana Department of Insurance (LDI) and Habitat for Humanity will hold a hurricane preparation session at Mandeville Community Center on September 26, 5:30 p.m. The session, Insurance Information on Preparing for Hurricane Season, will take policyholders through the components …
TWIA Names David Duren as General Manager
Today the Board of the Texas Windstorm Insurance Association selected its chief legal and legislative officer, David Durden, to be the association’s next General Manager after an extensive months-long search process, effective October 1, 2022. TWIA Board chair Chandra Franklin …
Markets/Coverages: Travelers, Google Cloud to Build Data System to Underwrite Commercial Risk
Google Cloud and The Travelers Companies said they are working together to create a cloud-based data ecosystem that will help Travelers’ underwriters more efficiently evaluate risks for large and middle market businesses The data ecosystem, built on Google Cloud, will …
Hurricane Fiona Losses Depend on Business Interruption, Cause
AM Best said it expects insured losses from Hurricane Fiona in Puerto Rico to be influenced by business interruption caused by widespread power outages but losses should be manageable for the industry. “It could take some time for claims adjusters …
People Moves: Maxwell Managing Director at Markel Specialty; Bouvier Hired as Compre Claims Director; Sensa Taps Brown as COO
Markel promotes Maxwell to Managing Director, Commercial Excess Wholesale Markel Corporation has appointed Sarah Maxwell managing director, commercial excess wholesale, for the Markel Specialty division. Maxwell joined Markel in 2009 and most recently served as senior director, commercial excess casualty …
People Moves: Strategic Risk Solutions Taps Marsh’s Meindersma to Lead Canada Expansion; Markel Int’l Promotes 3 in Wholesale Claims Leadership Team
This edition of International People Moves details appointments at Strategic Risk Solutions and Markel International. A summary of these new hires follows here. Strategic Risk Solutions Taps Marsh’s Meindersma to Lead Canada Expansion Strategic Risk Solutions (SRS), the independent insurance …
Agency Aggregator Union Bay Acquires Farrell Insurance in Pennsylvania
Union Bay Acquisition, a new aggregator of insurance agencies agent based in Princeton, New Jersey, reports it has acquired Farrell Insurance Associates Inc. of Lansdale, Pennsylvania. Terms were not disclosed. Jerry Farrell, who founded Farrell Insurance Associates in 1996, has …
Tesla Recalls Nearly 1.1 Million Vehicles to Update Window Reversing Software
Tesla is recalling nearly 1.1 million U.S. vehicles because the window automatic reversal system may not react correctly after detecting an obstruction, increasing the risk of injury. The electric vehicle manufacturer told the National Highway Traffic Safety Administration (NHTSA) it …
Britain Lifts Ban on Gas Fracking in England in Push for Energy Independence
Britain on Thursday formally lifted a moratorium on fracking for shale gas in England that has been in place since 2019, saying strengthening the country’s energy supply was an “absolute priority.” Energy prices have soared in Europe after Russia invaded …
Fatal Hawaii Ambulance Fire Linked to Oxygen Device
Preliminary findings from an investigation into an ambulance fire that killed a patient and injured a paramedic last month show the blaze originated in an oxygen device that is routinely used, officials in Hawaii said. The Aug. 24 fire killed …
$3M Settlement for Utah Family of Autistic Boy Shot by Police
A Utah family has reached a $3 million settlement with Salt Lake City in a lawsuit filed after officers shot a 13-year-old boy with autism, leaving him badly wounded after responding to his mother’s 911 call for help when he …
New York AG’s Financial Fraud Suit Against Trump Details Insurance Scenarios
Donald Trump and the Trump Organization used false and misleading statements of financial condition to obtain favorable real estate loans and insurance coverage over the last decade, according to a 222- page civil complaint filed by New York Attorney General …