INSURANCE NEWS
SageSure to Debut Private Flood Insurance in Texas
SageSure announced the introduction of a new admitted, proprietary residential flood program initially available in Texas. SageSure will distribute flood insurance through its network of contracted producers while also handling all servicing and claims. The company said the program will …
Federal Gov’t Designates 2 Wind Energy Areas in Gulf of Mexico
The Bureau of Ocean Energy Management (BOEM) announced this week it has finalized two Wind Energy Areas (WEAs) in the Gulf of Mexico, with the potential to produce enough clean wind energy to power nearly 3 million homes. The first …
People Moves: J.m. Wilson Adds Struck and Cook; Indium Appoints Ternes CEO
J.M. Wilson Names Struck and Crook as Property and Casualty Underwriters J.M. Wilson has promoted Chris Struck to property and casualty underwriter for their Indiana team. Struck is responsible for underwriting a wide variety of new and renewal property and …
Louisiana Train Derailment, Acid Leak Prompts Evacuations
The derailment of six train cars and a subsequent acid leak prompted road closures and evacuations Wednesday in a Louisiana community, officials said. No injuries were reported in the derailment in the community of Paulina in St. James Parish, about …
Chubb, Hudson Upheld in Denying Insurance to Couple Accused of Delaying Son’s Murder Case
Pennsylvania parents who are alleged to have found but not turned over to authorities a gun believed used by their son to murder a friend are not entitled to insurance for their defense against emotional distress claims brought by the …
North Carolina Rate Bureau Wants 87% Hike in Mobile Home Rates over 2 Years
The North Carolina Rate Bureau is requesting an average 87.5% increase in insurance rates for mobile home fire policies over the next two years, and a 53.4% increase in casualty policies. The rate requests may seem large, but they are …
Hurricane Ian Wrecked Man-Made Reefs, Brings Algae Bloom to Florida
Hurricane Ian not only ravaged southwest Florida on land but was destructive underwater as well. It destroyed man-made reefs and brought along red tide, the harmful algae blooms that kill fish and birds, according to marine researchers who returned last …
Drug Manufacturer Teva to Pay $523M to New York in Opioid Settlement
Teva Pharmaceutical Industries Lts. will pay up to $523 million to New York State as part of a nationwide settlement of lawsuits alleging the company helped fuel the U.S. opioid epidemic. The settlement with New York adds an additional $300 …
People Moves: Dale Enters Marine Re With 2 MS Amlin Hires; Chubb Taps AGCS’ Turberville as Head of Hull, Global Mkts.; Argenta Names Blackwell Head of Property
This edition of International People Moves details appointments at Dale Underwriting Partners, Chubb and Argenta. A summary of these new hires follows here. Dale Underwriting Offers Marine Reinsurance With 2 Hires From MS Amlin Dale Underwriting Partners (DUP), the trading …
Gallagher Buys Irish Broker Doyle Mahon, Rebrands Innovu From Recent Acquisition
Gallagher announced it has acquired Doyle Mahon Insurances, bolstering its presence in Ireland and demonstrating its commitment to expand its customer and employee base in the country. This follows Gallagher’s acquisition of Innovu in June this year, which it has …
Robust Business Continuity Plans Need Regular Updates – and Insurers Play Vital Role
Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and don’t update them on a regular basis. …
Ukraine War, Geopolitics Fuel Cyber Attacks: EU agency
Geopolitics such as Russia’s invasion of Ukraine has led to more damaging and widespread cybersecurity attacks in the year to July, EU cybersecurity agency ENISA said in its annual report on Thursday. ENISA’s study follows concerns about the role of …