INSURANCE NEWS
UK Temperatures Hit Record High: Met Office
Temperatures in the UK hit a record high of 39.1 degrees Celsius (102.38 degrees Fahrenheit) provisionally recorded at Surrey, breaking the previous record of 38.7°C set at the Cambridge Botanic Garden on July 25, 2019, according to the Met Office. …
Record Heatwave Scorches Europe, as Wildfires Continue to Rage in France, Spain
Britain was forecast to see temperatures hit 40C (104F) for the first time on Tuesday after logging its warmest night on record, while wildfires raged across parched countryside in France, Spain and elsewhere. As a heatwave that settled over southern …
New UK Finance Minister Targets Flexibility of Post-Brexit Financial Regs, Solvency II
Britain’s government must focus on sound public finances and avoid further fueling inflation by pumping up demand, new finance minister Nadhim Zahawi is due to say in his first major speech on Tuesday. Zahawi will address the City of London’s …
UK Regulator May Lack Bandwidth to Push Post-Brexit Competitiveness: Policymaker
The Bank of England may not have enough resources to implement an extra objective of maintaining Britain as a competitive global financial center, a policymaker designate said on Monday. Britain’s government is due this week to unveil a draft law …
U.S. Senate Democrats Plan Bill Aiming to Restore ‘Net Neutrality’
Two U.S. Senate Democrats active in internet issues are working on a bill to restore landmark “net neutrality” rules that would bar telecommunications companies from blocking or throttling traffic or offering paid fast lanes. Senators Edward Markey and Ron Wyden …
Uber Settles Lawsuit Over Disabled Riders, Vows to Waive Fees
Uber Technologies Inc. will pay more than $2 million and waive wait time fees for disabled passengers to settle U.S. allegations that the ride share company had violated the Americans with Disabilities Act, the Department of Justice said on Monday. …
People Moving: Matz to Producer’s; Rafalko to Hylant
Matz Leaves Tower Hill for Producer’s National Donald Matz Jr., the longtime president of Tower Hill Insurance Group in Florida, will soon take over as president and CEO of Producer’s National Corp., an insurance holding company. During his 26-year tenure …
Starbucks Ordered to Pay $9M After Woman Hit in Drive-Thru Lane
Starbucks Corp. has appealed a nearly $9 million verdict rendered against it after a customer was struck by a vehicle in the drive-through lane at a Fernandina Beach, Florida, coffee shop. The driver and the property owner settled claims against …
Alera Acquires Vermont’s Noyle Johnson Group
Independent agency Alera Group reports it has acquired Noyle Johnson Group, a Vermont agency with offices in Montpelier, Danville and Bethel. Noyle Johnson Group offers personal and commercial lines of coverage from more than 30 carriers. The agency specializes in …
Michigan Construction Worker Fatally Struck by Bulldozer
A construction worker in suburban Detroit died last Friday after a bulldozer struck him, police said. A man was standing outside his dump truck around 11 a.m. while a bulldozer moved pieces of concrete that had been broken up, Chesterfield …
Major Disaster Declared for Many North Dakota Counties Damaged by Storms
President Joe Biden has issued a major disaster declaration for many of North Dakota’s 53 counties which sustained damage caused during a series of snow storms in April. The declaration was approved for 40 of the state’s 53 counties, and …
First Half Insurance Agency M&A Above 5-Year Average: OPTIS
Agency consultancy OPTIS Partners said the pace of insurance agency mergers and acquisitions during the first six months of 2022 was above the average of activity during the same period over the last five years – a time regarded as …