INSURANCE NEWS
Michigan Regulators to Start Enforcing 2020 Industrial Farm Pollution Law
More than five years after first announcing stricter controls on industrial farm pollution in Michigan, state environmental regulators will finally start enforcing them. Regulations issued Wednesday by the Michigan Department of Environment, Great Lakes and Energy require the state’s largest …
UBS Warns of Systemic Risk From Weak US Insurance Regulation
UBS Group AG’s chairman warned against looming risks in the US insurance industry, citing weak and complex regulations amid an unprecedented boom in private financing. “We’re beginning to see huge rating agency arbitrage in the insurance business,” Chairman Colm Kelleher …
People Moves: Ryan Appointed CMO of Howden US; McCrosson Joins AXA XL Reinsurance as Sr. Underwriter, US Property Treaty
McCrosson Joins AXA XL Reinsurance as Senior Underwriter, US Property Treaty AXA XL Reinsurance hired Dan McCrosson to the U.S. property treaty reinsurance team in Stamford, Connecticut, as a senior underwriter, U.S. Property Treaty. McCrosson’s career spans several years at …
CNA Net Income for Q3 Up 42% on Lower Catastrophe Losses
CNA Financial Corp. recorded third quarter net income of $403 million compared with $283 million a year during the same period. Pretax catastrophe losses were $41 million for Q3, down more than $100 million from the prior year quarter. CNA’s …
Assailants Attack Tanker off Somalia in Suspected Pirate Strike
Armed assailants attacked a commercial tanker off the coast of Mogadishu on Monday, firing at the vessel after attempting to board the ship in the first suspected Somali piracy incident of its kind since 2024, maritime sources said. If confirmed, …
People Moves: Starkweather & Shepley Welcomes Leamy
Starkweather & Shepley Insurance Brokerage, Inc., headquartered in East Providence, Rhode Island, hired Dennis Leamy as a commercial risk advisor. Leamy joins the firm with nearly 20 years of experience in property, casualty, and life insurance, along with a record …
California Labor Commish Fines Costco, Others $868K for Misclassifying Drivers
Costco, Ryder Last Mile Inc. and Mega Nice Trucking LLC $868,128 citation has been issued by the California Labor Commissioner’s Office for worker misclassifying and labor law violations affecting 58 delivery drivers. The LCO reports that Ryder Last Mile Inc. …
People Moves: Encova Insurance Names Webber and Rao as VPs
Encova Insurance, headquartered in Columbus, Ohio, named Zach Webber as vice president, corporate actuarial, and Boppana Rao as vice president, enterprise digitization, AI and data. Webber has nearly two decades of actuarial experience across both commercial and personal lines, with …
Wreck of the Edmund Fitzgerald Still Resonates 50 Years Later
Spend enough time along the shores of Lake Superior and it won’t be long before there’s some reminder of what happened “when the gales of November came early.” This year marks the 50th anniversary of the wreck of the Edmund …
ReSource Pro Acquires Indiana-Based Supportive Insurance Services
ReSource Pro, a strategic operations partner serving the insurance industry, announced the acquisition of Supportive Insurance Services (SIS), a provider of licensing and renewal services. SIS’s deep specialization in adjuster licensing and compliance services complements ReSource Pro’s existing offerings, which …
Lawsuit Seeks to Overturn Dallas Ordinances, Including LGBTQ+ Protections
Two years after state lawmakers passed a sweeping law aimed at preventing Texas cities from adopting progressive policies, that law may finally get its first major test. Three Dallas residents sued the city in Denton County District Court Wednesday to …
NAIC Announces Johnston Interim CEO as Anderson Departs
The National Association of Insurance Commissioners (NAIC) said late last week that its chief executive officer, Gary Anderson, stepped down to “pursue other endeavors.” Anderson left the NAIC on Oct. 29. NAIC Chief Regulatory Affairs Officer Jeff Johnston will serve …