INSURANCE NEWS

People Moves: AGCS Taps Chaucer’s Graham for Marine Team; BHSI Names De Wilde Head of Property, Switzerland; HDI Global Specialty Promotes Spafford in Canada Branch

This edition of International People Moves details appointments at Allianz Global Corporate & Specialty (AGCS); Berkshire Hathaway Specialty Insurance (BHSI), and HDI Global Specialty. A summary of these new hires follows here. AGCS Taps Chaucer’s Graham for Marine Team in …
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OSHA Cites Connecticut Contractor for Worker’s Death in Trench Collapse

A federal investigation has found a Connecticut contractor’s failure to provide legally required safeguards and make sure they were in place to prevent trench collapses contributed to the death of an employee buried when an 8-foot-deep trench caved in. Investigators …
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Swiss Re Revamps Structure by Splitting Reinsurance Biz, Creating Client Business Unit

Swiss Re announced plans to streamline its organizational structure by splitting its current Reinsurance Business Unit into P&C Re and L&H Re, while creating a new business unit called Global Clients and Solutions. Swiss Re Corporate Solutions will continue as …
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Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes

As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue. Results were in comparison to net income of $790 million for Q4 2021. …
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Thousands of Nigerians Join Landmark Lawsuit Against Shell in UK

More than 13,500 Nigerians joined their communities in a lawsuit against Shell Plc before a landmark UK trial that could have far-reaching implications for parent-company responsibility over the actions of foreign subsidiaries. The residents of the crude-rich Niger Delta are …
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ION Trading UK Indicates Cyber Attack Could Take 2-3 Days to Resolve

ION Trading UK, the software firm hit by a cyberattack, has indicated it could take two to three days to resolve the situation, people familiar with the matter said. The London-based firm gave that time frame to some of the …
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Britain’s Finance Ministry Issues Draft Rules to Regulate Cryptoassets

Britain’s finance ministry laid out its first set of rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks that need addressing. Cryptoassets, such as bitcoin BTC=BTSP, have little direct …
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Shell Accused of Greenwashing by Climate Group in SEC Claim

A climate activist group is urging the US Securities and Exchange Commission to investigate whether Shell Plc’s claims about its investments in renewable energy are misleading to investors. Global Witness said that it filed a complaint with the SEC’s Climate …
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GoodRx Pays $1.5 Million to Settle Health Privacy Allegations

U.S. healthcare firm GoodRx Holdings has agreed to pay $1.5 million to settle allegations that it failed to notify customers that it shared personal health information with Alphabet’s Google, Meta’s Facebook and others, the Federal Trade Commission said on Wednesday. …
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Wheelchair-Bound Woman Injured While Boarding Flight Has Died a Year Later

One year after a Florida woman was paralyzed while trying to board a Southwest Airlines flight in Fort Lauderdale, she has died. Her family’s lawsuit against the airline and a staffing company continues. The South Florida Sun Sentinel newspaper and …
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Freddie Mac Accepts KBRA Insurer Ratings, Giving Fla. Agents, Mortgagees More Options

Freddie Mac, one of two mortgage-buying companies that buttress the U.S. home-lending market, has agreed to accept the Kroll Bond Rating Agency as a rating firm for homeowners’ insurance companies. “We have expanded our list of eligible rating providers to …
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People Moves: LP Adds Richesin in California; Buckner Appoints New Executives

LP Insurance Services LLC in Reno, Nevada added Doug Richesin and DLR Insurance Solutions. Richesin provides services and guidance to employee benefits clientele. Richesin joins LP Insurance as a member/owner and will continue serving clients throughout the Fresno, California and …
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