INSURANCE NEWS
Howden Buys New Zealand Broker Wallace McLean
Howden, the London-based insurance broker, announced the acquisition of Wallace McLean, which further strengthens its local expertise and provides an enhanced platform for its strategic growth plans in New Zealand. Wallace McLean was founded in 2001 and is a well-established …
Ardonagh Europe to Acquire Léons Group in the Netherlands
Ardonagh Europe Ltd., the Dublin-based subsidiary of The Ardonagh Group, announced it has agreed to acquire Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons …
Italian Court Turns Down Request to Lift Freeze on Russian Businessman’s Yacht
ROME – An Italian court has thrown out requests to unfreeze billionaire Alexey Mordashov’s yacht which was seized by the police as part of a drive by Western states to target wealthy Russians after the invasion of Ukraine. Mordashov’s 65 …
Typhoon Sinks Ship Southwest of Hong Kong, Killing at Least 12 Crewmembers
Chinese search and rescue officials pulled 12 bodies on Monday from waters southwest of Hong Kong after an engineering vessel snapped in two as tropical storm Chaba passed through, state television said. Maritime authorities of the southern province of Guangdong …
What Is Causing Australia’s Incessant Rain?
MELBOURNE — Torrential rain is lashing Australia’s southeast coast, forcing thousands of people from their homes because of the danger of floods and landslides in a region battered by major flooding four times in the past 18 months. Some areas …
Midyear Prop-Cat Reinsurance Capacity Down For First Time in Decades: Aon
For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a recently released report. While the reinsurance market remained stable on the casualty side, property …
Shipowners That Still Transport Russian Crude Are Reaping Big Rewards
A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade. Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the …
Torrential Rain Brings More Flooding to Sydney, Forcing Thousands to Evacuate
Thousands of people on the outskirts of Sydney were told to leave their homes or prepare to evacuate as days of torrential rain leads to widespread flooding. With more bad weather on its way, authorities issued dozens of evacuation orders …
Florida Workers’ Comp Admin, Second-Injury Fund Fees to Remain Steady for 2023
The surcharge for Florida’s Workers’ Compensation Administration Trust Fund and for the second-injury fund will remain the same for 2023 – at near-historically low rates. The Division of Workers’ Compensation announced that the assessment on compensation insurers and self-insurers will …
Georgia Construction Company Must Remain Defendant in Wetlands Suit, Court Finds
A federal court in Georgia has refused to dismiss a construction company from a lawsuit over wetlands violations, even though the company did not own the property at the time of the alleged dumping of dredge material. The contractor, TowneClub …
Lawsuits Advance Against Virginia School System Over Sex-Assault Response
FALLS CHURCH, Va. — A pair of lawsuits that for years has plagued Virginia’s largest school system with allegations that it ignored students’ accusations of sex assaults are back in front of federal judges. One of the lawsuits includes allegations …
New York Overhaul of Gun Rules Expected to Draw Legal Challenges
New York lawmakers approved a sweeping overhaul Friday of the state’s handgun licensing rules, seeking to preserve some limits on firearms after the Supreme Court ruled that most people have a right to carry a handgun for personal protection. The …