INSURANCE NEWS
Historic Drought, Low River Levels Threaten to Cripple Trade Across Europe
In the midst of an arid summer that set heat records across Europe, the continent’s rivers are evaporating. The Rhine — a pillar of the German, Dutch and Swiss economies for centuries — is set to become virtually impassable at …
Higginbotham Adds Another with Acquisition of Holman in Georgia
Higginbotham, an independent insurance and human resources firm, has kept up its pace of steady growth with the recent acquisition of Georgia-based Holman and Co., a broker of commercial and personal lines property and casualty insurance and benefits. Employee-owned Higginbotham, …
UK Insurer Aviva Posts 14% Rise in H1 Operating Profit
Aviva plans to return more cash to shareholders, the British insurer said as it posted a better-than-expected 14% rise in first-half operating profit, sending its shares to the top of the FTSE 100 gainers on Wednesday. Activist investor Cevian Capital, …
Wildfires Rage in France, Destroying Homes, Forcing Evacuation of Residents
Wildfires tore through the Gironde region of southwestern France on Wednesday, destroying homes and forcing the evacuation of 10,000 residents, some of whom had clambered onto rooftops as the flames got closer. Black-and-orange skies, darkened by the smoke billowing from …
Indiana House Explosion Leaves 3 Dead, 39 Homes Damaged
An explosion at an Evansville, Indiana house killed three people and damaged 39 houses, officials said Wednesday afternoon. Evansville Fire Department Chief Mike Connelly said two of the people killed were in the house of the explosion, while the third …
Tadikonda to Replace Edmundson as CEO of Cyber MGA Corvus
Boston-based insurtech Corvus Insurance said Madhu Tadikonda will take over immediately as CEO, replacing founding CEO Phil Edmundson. Edmundson will assume the new role of executive chair and chair of the board of Corvus. In this full-time role, Edmundson will …
Miami PT Clinic Managers Convicted in Insurance Fraud Scheme
A Miami woman now living in North Carolina is awaiting sentencing after she was convicted of paying kickbacks and defrauding insurers of more than $34 million for physical therapy services that were never provided. A federal jury in Miami last …
Chipotle to Pay $20 Million to Workers for Unpaid Sick Leave, Scheduling Violations
Chipotle Mexican Grill Inc. agreed to pay $20 million to an estimated 13,000 current and former employees of its restaurants in New York City to settle a claim that the chain repeatedly violated laws governing sick leave and scheduling. The …
NCCI Releases Q2 Economics Briefing
Jobs are up, wages are up, inflation is up, and recession is unlikely in the short term. National Council on Compensation Insurance’s (NCCI) newly released Quarterly Economics Briefing – Q2 2022 examines these factors and their potential impact on workers …
AM Best Upgrades Ratings of Synergy Comp Insurance
AM Best has upgraded the ratings of workers’ compensation insurer Synergy Comp Insurance Co. based in Sharon Pennsylvania. The rating organization upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” …
Amazon Warehouse Walkouts Over Pay Seen Spreading Across UK
Hundreds of Amazon.com Inc.’s UK workers are planning walkouts in the coming days after logistics workers clashed with managers over pay. A series of walkouts and slowdown protests at at least seven facilities in Essex, Coventry, Bristol, Swindon, Chesterfield, Warrington …
IMA Group Acquires Mollie Kallen Case Management
The IMA Group, a provider of independent medical examinations and case management in workers’ compensation, continues to expand with its acquisition of Florida-based Mollie Kallen Case Management. The terms of the deal were not disclosed. IMA, headquartered in Tarrytown, New …