INSURANCE NEWS
People: McGriff Names Hodo as Chief Strategic Growth Officer
Truist subsidiary McGriff, an insurance broker, has announced that Doug Hodo will rejoin the firm as chief strategic growth officer, based in Texas. Hodo spent the past year working as director of large relationships for a national brokerage. Previously he …
Florida’s Citizens Tops 1 Million Policies, Making it Largest in State by a Third
Florida’s Citizens Property Insurance Corp., created by lawmakers as a last-resort option, has become the largest property insurer in the state with more than 1 million policies in force – and growing. Stakeholders did not celebrate the milestone and some …
New York Insurance Fund Refunds $550M to Employers for Workplace Safety
The New York State Insurance Fund reported that it returned more than $550 million over the past year to businesses through its workers’ compensation safety discounts and dividends programs. The state agency provides dividends for companies that belong to a …
Hub Buys Delaware’s KT&D
Insurance broker Hub International Limited has acquired KT&D, Inc. in Wilmington, Delaware. Terms of the transaction were not disclosed. KT&D provides multi-line insurance services, including medical malpractice, commercial and personal, and employee benefits coverage. Scott Yerkes, CEO, and Kelly McGovern, …
People Moves: MEMIC Welcomes Safety National’s Hoff; Delaware to Name New Captive Chief; Arthur Hall Names Mackarevic Partner
MEMIC Names Hoff Vice President of Loss Control and Safety The MEMIC Group has named Maryann Hoff, a 17-year insurance industry veteran, its new vice president of loss control and safety. Hoff comes to MEMIC from Safety National Casualty Corp., …
Wildfires Burn, Farmers Struggle as Another Heatwave Bakes Western Europe
European nations sent firefighting teams to help France tackle a “monster” wildfire on Thursday, while forest blazes also raged in Spain and Portugal and the head of the European Space Agency urged immediate action to combat climate change. More than …
Partial Settlement in 2018 Killing of Maryland Teen Targets Police and Justice Reforms
Family members of Anton Black and the Coalition for Justice for Anton Black announced they have resolved part of their federal court litigation charging police and municipal officials in three Maryland communities with the unconstitutional killing of the Black teenager …
J&J to End Global Sales of Talc-Based Baby Powder
Johnson & Johnson will stop selling talc-based baby powder globally in 2023, the drugmaker said on Thursday, more than two years after it ended U.S. sales of a product that drew thousands of consumer safety lawsuits. “As part of a …
Cross Insurance Acquires Maine Insurance Agency
Cross Insurance reported it has acquired Maine Insurance Agency of Portland. The acquisition of Maine Insurance Agency, a fifth-generation family-owned business, expands the coastal region division of Cross. Founded in l905, Maine Insurance Agency offers insurance for homes, autos, recreational …
Weakening UK Regulators Would Undermine Financial Services, Bank of England Warns
Weakening the independence of regulators would undermine reforms to bolster Britain’s finance industry, the head of the Bank of England said on Thursday, in a rebuff to proposals from the leading candidate to be the country’s next prime minister. The …
Britain’s Proposed Post-Brexit Financial Reform Explained
Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest markets reform in two decades is expected by May …
Indiana Metalworking Lubricants Company to Pay $310,000 over Clean Air Act Violations
The U.S. Environmental Protection Agency and Indiana Department of Environmental Management announced a settlement on August 5 with Metalworking Lubricants Co. for alleged violations of the Clean Air Act at its used oil processing facility in Indianapolis. Under the terms …