INSURANCE NEWS
Zurich Insurance Plc Plans to Redomicile From Ireland to Germany in Response to Brexit
Zurich Insurance Plc, the Dublin-based wholly owned subsidiary of Zurich Insurance Group, plans to relocate to Germany as a result of the UK’s exit from the European Union. As the Irish unit includes the insurer’s UK P&C business, Brexit required …
First U.S. Coral Insurance Marks the Rise of the Reef Brigades
Conservation group The Nature Conservancy’s vision for the future of coral protection involves speed boats, and a global army of snorkellers and divers deployed when tropical storms and hurricanes damage reefs. On Monday, the global ‘Reef Brigades’ plan came closer …
FHA Opens Special Flood Areas to Private Insurers
The Federal Housing Administration (FHA) has announced regulations to allow mortgagors the option to purchase private flood insurance on FHA-insured mortgages for properties located in Special Flood Hazard Areas. Beginning Dec. 21, the FHA will allow mortgagors to purchase private …
California Department of Insurance Investigation Leads to Arraignment Bail Agents
Unlicensed bail agent Jimmy Mai, 35, of Irvine, and licensed bail agent Jonathan Lahmani, 42, of Orange, California, were each arraigned in Los Angeles Superior Court on one felony count of negotiating bail without a license. The arraignments follow an …
New York Licenses First Cannabis Shops, Reminds Insurers to Not Use Expunged Crimes
New York has approved its first 36 marijuana retail dispensary licenses, awarding them to 28 applicants with prior cannabis convictions and eight nonprofits that serve those formerly incarcerated. New York officials wanted the state’s first legal adult-use retail dispensaries to …
Two Dead After Small Plane Crashes in North Carolina
A small plane crashed in Winston-Salem on Saturday, killing two people, authorities said. Winston-Salem Police Department spokeswoman Kira Boyd told the Winston-Salem Journal that two people died in the crash of the small plane in a residential area on Saturday …
Safer Snow Storms: NC DOT Adds Simulator Training for Snow Plow Operators
The North Carolina Department of Transportation’s winter weather prep is going digital this year with a snow plow simulator designed to give employees more training time without getting behind the wheel of an actual vehicle. The new simulator equipment has …
Cyber Risk Modeler DeNexus Opens UK Office
DeNexus Inc., the Sausalito, Calif.-based provider of cyber risk modeling, has opened an office in London as part of its strategy to build out its cyber expertise in Europe. The London office is headed up by seasoned professional Mitesh Chauhan. …
People Moves: Amwins Global Risks Promotes Cody to MD; Markel Bermuda Names Cardoso Head of Office; BMS Re Taps QBE Re’s Larson for Casualty Broking
This edition of International People Moves details appointments at Amwins Global Risks, Markel Bermuda and BMS Re. A summary of these new hires follows here. Amwins Global Risks Promotes Cody to Managing Director Amwins Global Risks, the international arm of …
U.S. Supreme Court Rebuffs Dispute Over Nursing Home COVID Suits
The U.S. Supreme Court on Monday declined to hear California nursing home operator Glenhaven Healthcare’s bid to avoid a lawsuit filed in state court over the COVID-19 death of a resident, turning away the company’s effort to move the case …
NBA Champion Golden State Warriors Are Sued Over FTX Collapse
The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action …
China to Fine Ant Group More Than $1B as Regulatory Revamp Nears End: Sources
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The …