INSURANCE NEWS
BREAKING: Florida Citizens’ CEO Gilway Announces Retirement
He waited until the Florida Legislature had passed long-sought reforms but now Citizens Property Insurance Corp. CEO Barry Gilway is ready to retire after almost 11 years at the helm. Gilway announced at the Citizens Board of Governors meeting today, …
Michigan Sues Paper Company Over PFAS-Contaminated Waste
PORT HURON, Mich. (AP) _ The state of Michigan is accusing a former paper mill owner of sending contaminated waste to a composting site for decades in the Thumb region. The lawsuit seeks payments from Domtar Industries for identifying the …
Michigan’s Proctor Financial to Pay $67K Over Retaliation Suit
Proctor Financial, Inc., an insurance company based in Troy, Michigan that provides insurance products for residential and commercial properties, will pay $67,000 to settle a retaliation lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC). According to the EEOC’s …
Buffalo Bus Driver Gets 5 Years Probation for Workers’ Compensation Claims Fraud
A former bus driver for the Niagara Frontier Transportation Authority (NFTA) has been sentenced to five years of probation for fraudulently obtaining workers’ compensation benefits by misrepresenting her injuries. She must also pay full restitution to the NFTA for money …
Texas Officials Confident in Power Grid as Temperatures Plummet
State officials warned residents Wednesday to prepare their homes and vehicles for the coming freeze while trying to reassure on-edge Texans that the electric grid will stay online. Temperatures are expected to plummet Thursday into single digits — with even …
Howden Acquires Italian TV and Film Broker Assimovie
Howden, the international insurance broker, announced it has agreed to acquire Assimovie, the leading TV, film and advertising insurance broker in Italy. The transaction underlines Howden’s continued commitment to invest in expertise by creating a Sport and Entertainment specialty for …
Women Sexually Abused by ICU Nurse Sue Colorado Hospital
Two women who say a nurse sexually assaulted them while they were unconscious in intensive care filed a lawsuit against the Colorado hospital where they were being treated, alleging the hospital’s management didn’t do enough to prevent the abuse. The …
Chinese Electric Automaker Nio Hit by Ransomware Attack
China-based Nio Inc. said on Tuesday that hackers had breached its computer systems and accessed data on users and vehicle sales, in the latest hacking incident to hit the global auto industry. The hackers had sent an email to the …
ACORD Study Highlights Drivers of High Performance Among Top U.S. Insurers
ACORD recently conducted the U.S. Value Creators Study focused on the 100 largest property/casualty insurance groups in the U.S., representing nearly 90% of premiums written and almost 100% of the industry’s market capitalization – $9.1 trillion over the 20 years …
Suits Over Carolina Cheerleader Abuse Allegations Now Include Racketeering Claims
A series of lawsuits beginning in South Carolina have detailed the alleged sexual abuse of at least 20 cheerleaders across six states. The anonymous plaintiffs have accused coaches, choreographers and others of illicit drug provision, child pornography solicitation and rape. …
Verisk to Acquire Swedish Claims Insurtech Mavera
Verisk, the global data analytics provider, has entered into an agreement to acquire Mavera, a Sweden-based insurtech firm that operates a personal injury claims management platform. Financial details of the transaction were not disclosed. This addition of the Nordics personal …
Gallagher to Acquire HR, Benefits Firm Buck For $660 Million
Global broker Arthur J. Gallagher & Co. has agreed to acquire the partnership interests of BCHR Holdings, L.P., which does business under the name Buck. Buck provides of retirement, human relations, and employee benefits consulting and administration services. The organization …