INSURANCE NEWS
Flash Flooding Closes Roads into Death Valley National Park
Roads in and out of Death Valley National Park were closed after lanes mud and debris inundated lanes during weekend flash floods in eastern California, western Nevada and northern Arizona. Storm cells dumped localized heavy rain across the region, prompting …
2 Bodies Found Inside Vehicle in Path of Big California Wildfire
Authorities said two bodies were found inside a burned vehicle in the path of a raging Northern California wildfire that is one of several major blazes burning across the U.S. West amid hot, dry, gusty conditions. The McKinney Fire exploded …
Boy Scouts Ruling Threatens $250 Million Abuse Deal With Mormons
The Boy Scouts of America may be forced to cut $250 million from its proposal to set up a trust fund for sex abuse victims after a judge rejected a key provision of a deal the youth group signed with …
Maryland’s Wage Law Can Cover Travel Required by Employer, Court Finds
Maryland’s wage and hour law may extend beyond the time an employee spends at a prescribed workspace to include time spent getting to the work site using transportation required by the employer, Maryland’s highest court has decided. In a 7-0 …
Markets/Coverages: Sayata Adds CFC to Platform; Cowbell Cyber Partners With Amwins
Boston-based Sayata said it has added CFC to the Sayata platform, offering brokers full access to CFC’s award-winning cyber insurance offering for small and medium businesses (SMBs). CFC’s cyber insurance solution offers proactive threat intelligence to help customers identify and …
Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re
A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the first …
Howden’s Aston Lark Ireland Acquires Sparrow Insurances
Aston Lark Ireland, the insurance broker that recently became part of Howden Broking Group, announced the acquisition of Sparrow Insurances Ltd. Financial details of the transaction were not disclosed. Sparrow Insurances has a history of success and growth across Leinster …
Jensten Group Acquires UK MGA Origin UW
The Jensten Group, the London-based independent insurance broking group, has completed the acquisition of Origin UW Ltd., following regulatory approval. Origin UW is a boutique managing general agent that provides commercial insurance solutions for SME businesses and professionals. Origin specializes …
England Records Driest July Since 1935 Amid Searing Heat Wave
England had the driest July since 1935 amid a searing heat wave that pushed infrastructure to the brink and severely disrupted travel. The unusually dry weather came as temperatures rose above 40 degrees Celsius (104 Fahrenheit) for the first time. …
UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny James said on Tuesday the …
Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations. Generali, which on Wednesday will kick …
Sandy Hook Families Cast Wary Eye on New Infowars Bankruptcy
Families of Sandy Hook school shooting victims have quickly raised the alarm over the latest legal maneuver from far-right radio show Infowars and its proprietor, Alex Jones. The ultimate parent of Infowars, Free Speech Systems LLC, filed for Chapter 11 …