INSURANCE NEWS
Thousands Still Without Power in Northern California Following M6.4 Quake
Thousands of customers are still without power following a large earthquake in Northern California. A magnitude 6.4 earthquake struck northern California on Tuesday, according to the U.S. Geological Survey. Very strong shaking was reported from the quake, which struck in …
Ohio’s Oberlin College Completes Paying Out $25M Judgment in Libel Lawsuit
OBERLIN. Ohio (AP) – Oberlin College has completed paying out a $25 million judgment to an Ohio bakery that won a libel lawsuit against the school after a shoplifting incident involving three Black students. The store’s owners, Allyn Gibson and …
People Moves: Ohio Dept. of Insurance Restructures Office of Legal Services; N.D. Commissioner Godfread Elected VP of NAIC
Ohio Department of Insurance Office of Legal Services Restructured, Fitch Named Chief Legal Officer Ohio Department of Insurance has promoted several employees in the department’s Office of Legal Services, including naming Whitney Fitch as chief legal officer. Fitch, who joined …
Texas Bankruptcy Judge Allows Sandy Hook Cases Against Jones to Proceed
HOUSTON (AP) – Cases can move forward against Alex Jones regarding the nearly $1.5 billion he’s ordered to pay families of Sandy Hook victims over his conspiracy theories about the 2012 school massacre, a federal bankruptcy judge ruled Monday, but …
Cadence Insurance Acquires Texas-Based Warriner & Associates
Cadence Insurance, Inc. announced the acquisition of certain assets of Houston, Texas-based Warriner & Associates Insurance Services, Inc. and Warriner Solutions, LLC effective December 1, 2022. With roots tracing back to 1992, Warriner & Associates has specialized in insurance coverage …
Tenn. Chalks 10% Cut in Workers’ Comp Loss Costs, Marking a Decade of Reductions
Tennessee’s insurance commissioner has approved a 10.2% average decrease in workers’ compensation loss costs for the voluntary market, marking the 10th-straight reduction for the state. The Dec. 14 order from Commissioner Carter Lawrence approved a recommendation from the National Council …
Arthur J. Gallagher Acquiring Brazilian Broker Interbrok
Arthur J. Gallagher & Co. announced the acquisition of São Paulo, Brazil-based Interbrok Group. Financial terms of the deal were not disclosed. In a media statement, J. Patrick Gallagher, Jr., chairman, president and chief executive officer of Arthur J. Gallagher, …
City of Buffalo Sues Gunmakers Under Public Nuisance Law
The upstate New York city of Buffalo on Tuesday filed a lawsuit in state court accusing major gun manufacturers of fueling violence through irresponsible marketing and sales practices. Defendants in the lawsuit include Smith & Wesson Brands Inc., Beretta USA …
White Mountains Subsidiary Ark Sponsors Prop-Cat Re Sidecar
White Mountains Insurance Group, Ltd. announced today that Ark Insurance Holdings Limited, its specialty property/casualty reinsurance and insurance subsidiary, has sponsored the formation of a reinsurance sidecar to provide collateralized reinsurance capacity for its global property catastrophe portfolio. Outrigger Re …
Georgia Appeals Judge, Former Insurance Department Counsel, Dies Unexpectedly
A Georgia Court of Appeals judge and former attorney for the state Department of Insurance has died at age 64. Judge Clyde Reese died on Saturday, the court announced, saying he died unexpectedly after a short hospital stay. No cause …
EPA Finalizes Tough Emissions Rules to Cut Pollution From Heavy-Duty Trucks
The U.S. Environmental Protection Agency on Tuesday finalized new emissions standards to drastically cut smog- and soot-forming emissions from heavy-duty trucks, the first of a series of actions planned to cut vehicle pollution. The new standards, the first update to …
Exxon Avoids Hiring Tankers That Previously Transported Russian Oil
Exxon Mobil Corp., is avoiding hiring oil tankers that previously carried cargoes from Russia, putting itself in the same camp as Shell Plc with a move that pressures owners to choose whether to serve Moscow’s interests or not. The largest …