INSURANCE NEWS
Cybersecurity Firm Group-IB to Split Russian, International Businesses
Cybersecurity outfit Group-IB will split its Russian and international business into two separate companies in a bid to maintain a presence in both the Russian and overseas markets, the company said on Wednesday. (Reuters issued a statement with this article: …
Ryan Specialty Expands European Presence With Launch of Madrid Office
Ryan Specialty announced it has opened an office in Madrid as a next step in the evolution of the firm’s transactional risk managing general underwriter, Ryan Specialty Transactional Risks International. Madrid is the firm’s third European/UK office, the second in …
UK Government Chaos Sparks Fears in City of London of More Post-Brexit Limbo
City of London executives have expressed anxiety that the turmoil rocking the UK government may delay or derail post-Brexit reforms aimed at boosting competition and growth. The resignations of Chancellor Rishi Sunak and John Glen, economic secretary to the Treasury, …
US Testing New Fire Retardant, Critics Push Other Methods
U.S. officials are testing a new wildfire retardant after two decades of buying millions of gallons annually from one supplier, but watchdogs say the expensive strategy is overly fixated on aerial attacks at the expense of hiring more fire-line digging …
Independent Agency Customer Platform GloveBox Raises $5.5 Million
GloveBox, which provides independent agencies with a platform for aggregating insurance policy documents, regardless of carrier, in one centralized location, announced it has raised $5.5 million in Series A funding. The Denver-based insurtech serves as a client experience platform (CXP) …
Miami Jury Orders Bar That Served Drunken Driver to Pay $96M in Damages
A Miami-Dade jury has returned one of the largest verdicts ever in an automobile accident, awarding $95 million in damages plus attorneys’ fees to a South Florida family whose daughter was killed and whose son was catastrophically injured by a …
Southeast Business Moves: Risk Strategies, Acrisure, Alabama Agencies
Risk Strategies Expands on Florida’s East Coast Risk Strategies, a national specialty insurance brokerage and risk management firm based in Boston, has acquired Sebastian Insurance Group of Florida. Sebastian, headquartered in Sebastian, Florida, on the state’s eastern coast, offers policies …
Louisiana Extends Ida Mediation Program Through End of 2022
Louisiana’s Hurricane Ida Mediation Program is being extended through December 31, 2022, Louisiana Insurance Commissioner Jim Donelon announced. The voluntary Hurricane Ida Mediation Program, which is open to authorized property and casualty insurers and surplus lines insurers, was created to …
Kansas Hobby Lobby Store Sued For Disability Discrimination
Hobby Lobby Stores, Inc., a national arts-and-crafts retailer, violated federal law when it refused to reasonably accommodate a cashier at its Olathe, Kansas store by allowing her to use a service dog and then fired her because of her disabilities, …
Texas Division of Workers’ Comp Seeks Input on MQRP rule changes
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) said it is accepting public comments on a proposed rule amending 28 Texas Administrative Code §180.62, concerning the Medical Quality Review Panel (MQRP). The Legislature enacted Texas Labor Code §413.05122 …
Nebraska Medical Marijuana In Danger of Not Qualifying for Ballot
A campaign to legalize marijuana for medicinal use in Nebraska is in danger of missing its signature goal to qualify for the November general election ballot, organizers said. Nebraskans for Medical Marijuana still needs to gather thousands of signatures ahead …
Maine Mining Superfund Site to Receive $21M
A Maine superfund mining site is receiving $21 million in Environmental Protection Agency funding to expedite contamination cleanup efforts. The Callahan Mine superfund site in Brooksville originally received $9 million from the bipartisan federal infrastructure bill passed in November last …