INSURANCE NEWS
Demotech Likely Won’t Rate Any New Florida Insurers, Petrelli Says
The head of the Demotech insurance rating firm said the company likely won’t take on new clients in Florida, due to the turbulent insurance market and an outcry from state officials last summer. The Business Observer in Sarasota, Florida, reported …
Attack on North Carolina Electrical Stations Leaves 40,000 Without Power
A shooting attack on two North Carolina electrical substations has knocked out power to some 40,000 homes and businesses and prompted local officials to declare a curfew Sunday night. Local and national news outlets reported that utility crews found that …
Web Designer Opposed to Gay Marriage at Center of U.S. Supreme Court Clash
The wedding websites that Colorado-based web designer Lorie Smith would like to create for clients might offer ceremony details, pictures, a story about the couple and a biblical quote celebrating how through marriage they “become one flesh.” They would not, …
Data on Natural Disaster Risks Crucial for Australia’s Climate Resilience
Public data on natural disaster risks for homeowners and businesses will be crucial for making Australia’s economy more resilient to climate change, according to the head of sustainable finance at National Australia Bank Ltd. There’s a growing collective effort by …
MGA Pixel Re Launched for Global Property, Energy Risks of $500M and Above
Connect Underwriting Ltd., a London-based specialist reinsurance managing general agent, announced the availability of new capacity via Pixel Re, a new dedicated, monoline reinsurance vehicle for global property and downstream energy risks. With exclusive Lloyd’s and London-market sourced capacity, Pixel …
Many Ethnic Minorities in UK Financial Services Face Racism, Discrimination: Survey
The UK may be more ethnically and racially diverse than ever, but minorities working in the financial services industry continue to face discrimination, according to a new study. About 70% of ethnic minorities working in finance have experienced discrimination at …
Ardonagh Advisory Acquires UK Broker The Professional Indemnity Co.
Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group, announced it has acquired The Professional Broking Group Ltd., which trades as The Professional Indemnity Co. Financial details of the deal were not disclosed. Based in Chester, England, and established …
Here’s What You Need to Know About Russia Oil Sanctions, Effective Today
After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain. The Group of Seven clinched a last-minute deal to cap the price …
Lapsus$ Hacking Group Will Be Focus of DHS Cyber Review Board
The Department of Homeland Security’s Cyber Safety Review Board said it will study the Lapsus$ hacking group, which has been accused of carrying out breaches at major US companies this year. The board, comprised of senior government cyber officials and …
Uvalde Shooting Victims Seek $27B, Class Action in Lawsuit
Victims of the Uvalde school shooting that left 21 people dead have filed a lawsuit against local and state police, the city and other school and law enforcement officials seeking $27 billion due to delays in confronting the attacker, court …
Pickleball Explosion in Florida Creating New Hits and Misses for Insurers, Agents
If the insurance industry hasn’t noticed, the sport known as pickleball is exploding across the country, especially in Florida, where more than 15 indoor clubs, replete with air conditioning, cafes, locker rooms, video training and other amenities are planned or …
Despite Some Progress, Feral Hogs Cause $2.5B in Damage Per Year, Mostly in South
Eight years into a U.S. program to control damage from feral pigs, the invasive animals with big appetites and snouts that uproot anything that smells good are still a multibillion-dollar plague on farmers, wildlife and the environment. These prolific hogs …