INSURANCE NEWS
RB Jones Acquires ‘Smart’ Ocean Cargo Business From Corvus
Specialty risk broker RB Jones announced its marine and energy division has acquired the Smart Cargo Insurance business from Boston-based managing general agent Corvus Insurance. The Corvus ocean cargo product offers an insurtech product for temperature-sensitive cargo such as food …
Gallagher, Alliant Agree to Settle Latest Dispute of Alleged Poaching
Brokers Arthur J. Gallagher and Alliant Insurance Services jointly filed to tell a judge they have agreed to work out a settlement to end a short but contentious dispute over employee-poaching accusations. According to a status report filed in the …
Damage Assessments Begin in Flooded Alaska Villages
Authorities in Alaska were making contact this week with some of the most remote villages in the United States to determine their food and water needs, as well as assess the damage after a massive storm flooded communities on the …
$600K for Woman Attacked by Police Dog in California
San Diego, California, officials approved a $600,000 payout to a woman who was severely injured when a police dog attacked her in her own yard after escaping from its trainer’s home nearby. A lawsuit filed by Jenna Cole in March …
New York City Lifts COVID-19 Vaccine Mandate for Private Businesses
New York City Mayor Eric Adams is encouraging private businesses to put in place their own vaccine policies after making the private sector vaccine mandate optional. The city has also now made vaccines optional for students who participate in extracurricular …
People Moves: Epic Insurance Names Rains Managing Principal in Tennessee
EPIC Insurance Brokers, a property and casualty insurance brokerage and employee benefits consultant, announced that is has named Parker Rains as managing principal for its property/casualty practice. Rains, based in Nashville, will oversee business development and client management, the company …
Britain Proposes Reforms for Insuring Apartment Blocks After Deadly Grenfell Tower Fire
Britain’s financial watchdog has proposed reforming how apartment blocks are insured after the deaths of 72 people in the Grenfell Tower fire in London led to rocketing premiums on policies. The Financial Conduct Authority said on Wednesday that since the …
Autobrake Performance Dips After Sundown
A nighttime test of pedestrian automatic emergency braking (AEB) systems to address the high percentage of pedestrian crashes that occur on dark roads has been introduced by the Insurance Institute for Highway Safety (IIHS). Four of the first 23 midsize …
Britain’s Haleon Rejects Potential Zantac Liabilities in U.S.
Haleon believes it is not liable for any claims that may arise from U.S. litigation over the heartburn drug Zantac, the London-listed company’s CEO Brian McNamara told Reuters on Tuesday. More than 2,000 legal cases related to Zantac have been …
Lockton Re Launches SAGE 2.0 to Boost Reinsurance Analytics
Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, launches Lockton Re SAGE 2.0, its next level of analytics features and tools as part of Lockton Re’s proprietary software platform. “Lockton Re’s SAGE is …
Miller Launches Delegated Authority Team in Canada, Hires 5 From Tysers
Miller, the leading independent specialist re/insurance broker, announced the expansion of its Delegated Authority team with the appointment of five new hires to form a dedicated Canadian unit. The new team will be formed by Steve Maslen, Matt Dear, Mike …
ECB to Limit Purchases of Longer-Term Debt Issued by Climate Laggards
The European Central Bank will limit purchases of longer-term debt issued by companies that rank poorly under a new scoring system created to screen out polluters and tackle climate change. The maturity limit will cut the “longer-term exposure of the …