INSURANCE NEWS
Iowa Jury Awards $27M Verdict in Misdiagnosed Flu Case
DES MOINES, Iowa (AP) – An Iowa jury has returned a $27 million verdict against a Des Moines medical clinic after a man with bacterial meningitis was misdiagnosed with the flu, suffered strokes and said he has been permanently injured. …
Indiana Man Awarded $25M in Lawsuit Against Ex-Cop
HAMMOND, Ind. (AP) – A federal jury has awarded a Gary man $25.5 million in his lawsuit alleging that a now-retired police officer violated his civil rights and deprived him of a fair trial in a case involving a 1980 …
Maryland AG Overrules Past Racially Discriminatory Opinions
Maryland’s attorney general announced that he has overruled opinions that upheld or applied unconstitutional racially discriminatory laws. In an opinion addressed to General Assembly leaders, Attorney General Brian Frosh formally overruled the opinions, saying that while changes in the law …
People Moves: Tysers Insurance Brokers Names Former Chubb Exec Kendrick as Chair; Tokio Marine HCC Int’l Promotes Herrero as CEO for European Operation
Tysers Insurance Brokers Names Former Chubb Exec Kendrick as Chair Tysers Insurance Brokers, the London-based broker, announced the appointment of Andrew Kendrick as non-executive chair. The appointment is effective Dec. 1, 2022, and subject to regulatory approval. Peter Haynes will …
Tesla Recalls More Than 80,000 Cars in China on Software, Seat Belt Problems
Tesla Inc. is recalling almost 81,000 electric cars in China — more than it typically ships from its Shanghai factory in any given month — due to a software issue and seat belt problems. The US EV maker will call …
Central Florida’s Insurance Land Joins Renaissance Alliance
Insurance Land, an independent agency with offices in Sanford and Deland, Florida, has joined the Renaissance Alliance network of agencies, the firm said in a news release. The agency, in business since 1984, offers commercial and personal lines and will …
Fidelis Receives Regulatory Nod to Create New MGU, Split Business
Fidelis Insurance Holdings Ltd. announced it has received regulatory approval to create a new managing general underwriter (Fidelis MGU), which is separate from the existing balance sheet insurance companies – known as the Fidelis Insurance Group. Originally announced and agreed …
Markel International Merges Professional and Financial Risks Division With Cyber Team
Markel International, a subsidiary of Markel Corp., announced it will merge its professional and financial risks (PFR) division with its recently expanded cyber team. The decision to merge the two divisions is part of the wholesale business’ efforts to simplify …
Climate Activists’ Attacks on Paintings Add to Insurers’ Worries About Threats to Art
Climate activists’ attacks on some of the world’s most precious paintings have added to insurers’ worries about the threat to art from climate change itself, concerns seen as leading to higher art insurance premiums. In recent weeks, activists have drawn …
Ford Recalls 634,000 Vehicles Worldwide Over Fire Risks
Ford Motor Co is recalling 634,000 sport utility vehicles (SUVs) worldwide over fire risks from possible cracked fuel injectors and will urge owners to have their cars inspected, it said on Thursday. America’s No.2 automaker by sales said the recall …
Private Equity Firm KKR Nears €2.3 Billion Deal for French Insurance Broker April Group
French insurance broker April Group said private equity firm KKR & Co. has become its new majority shareholder, according to a statement posted on its website. The statement, which confirmed a Bloomberg News report, didn’t disclose deal terms. KKR is …
Hazard Assessments Lag at Restaurant Companies: Marsh
Formal hazard assessments at restaurants are key in reducing worker injuries and insurance claims. In recent years, however, a sizeable number of companies have not conducted the required inspections. According to a Marsh survey, 49% of companies haven’t conducted a …