INSURANCE NEWS
Louisiana Fertilizer Company to Pay $1.5M Over Hazardous Waste Violations
The Environmental Protection Agency (EPA), the Justice Department, and the Louisiana Department of Environmental Quality (LDEQ) announced a settlement with PCS Nitrogen Fertilizer, L.P. (PCS Nitrogen), to remedy hazardous waste issues at its former fertilizer manufacturing facility in Geismar, Louisiana. …
Washington Seafood Processing Company to Pay $92,000 Settlement
A seafood processing company west of Aberdeen, Washington, will pay more than $92,000 in a settlement agreement over water quality violations, Washington state ecology officials said. Pacific Seafood – Westport, LLC’s payment will settle an appeal of a larger penalty …
United Property & Casualty Says It Is Exploring Potential Sale or Merger
United Insurance Holdings Corp., parent company of one of Florida’s largest property insurers – and one that has seen heavy losses in the last two years – announced that its board of directors is now exploring a range of options …
‘BazarCall’ Malware Uses Call Centers to Target Small Businesses: CFC
CFC, a specialist insurance provider and market leader in cyber, warned brokers and their clients today of an emerging method of ransomware attack – dubbed ‘BazarCall’ – which is targeting small businesses. According to CFC’s in-house cyber threat analysis team …
Allianz Aims to Grow Global Program Business with New Multinational Team
Global insurer Allianz is moving to substantially expand its business from customers in the global insurance program sector and serve the increasing demand from large and medium-size companies needing cross-border coverage. Its international corporate insurance carrier, Allianz Global Corporate & …
Atlantic Hurricane Season May Get Boost From Lingering La Nina
La Nina will probably stick around for at least several more months, potentially leading to more hurricanes and tropical storms across the Atlantic during the heart of the season. There’s now a 62% chance of cool waters across the equatorial …
Alabama Closes Bond Deal to Build Two Mega-Prisons
Alabama on Tuesday closed a $509 million bond deal to help build two supersize prisons amid lawsuits by inmates bidding to block the project. The Alabama Finance Department confirmed that the bond sale, which had been approved last month, was …
People Moves: Aon Adds 3 to M&A; Shing Heads AXA XL International Casualty; UIB Marine Welcomes Waller
Aon Adds 3 to M&A and Transaction Practice in the UK Global broker Aon has strengthened its Mergers & Acquisitions and Transaction Solutions team in the UK with the appointments of Sam Bridges, Tanya Hickson, and Guy Ruddy. Bridges joins …
Alex Murdaugh’s Lawyer Says State Ready to Pursue Murder Charges
A lawyer for disgraced South Carolina attorney Alex Murdaugh said Tuesday that investigators have indicated they intend to pursue murder charges against him for the deaths of his wife and son, who were fatally shot outside their home more than …
Lawsuit Challenges New York’s Revised Gun Safety Law
A federal lawsuit challenging part of New York’s new gun law was filed by Republican congressional candidate Carl Paladino, one of multiple legal challenges expected against state handgun licensing rules approved after a recent Supreme Court ruling. New York lawmakers …
Settlement Delays Likely to Worsen UK Motor Insurance Claims Inflation, WTW Finds
Delays in motor claims processing may be hiding the true threat of inflation to insurers, according to global broker WTW in a benchmarking report that concludes that UK motor claims inflation is expected to accelerate in 2022. The inflation rate …
VW Sees EU Top Court Ruling Against Its Emissions Software as Confirmation
Volkswagen’s software that altered car emissions constituted an illegal defeat device in certain driving conditions, the EU’s top court ruled on Thursday, while the automaker said the ruling confirmed its software was legal. The Court of Justice of the European …