INSURANCE NEWS
Ardonagh Europe Completes Acquisition of Dutch Broker Léons Group
Ardonagh Europe Ltd., a subsidiary of The Ardonagh Group, announced that it has completed the acquisition of Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. Headquartered in Amsterdam and founded in 1951 by Max Léons, …
NFP Unifies Irish Subsidiaries to Support European Expansion
NFP, the New York City-based property/casualty insurance broker and consultant, announced it will rebrand two acquired firms in Ireland: Aiken Insurances and ReSure Corporate Brokers. By combining the two firms’ commercial insurance expertise and capabilities, NFP said it is streamlining …
Norway Sends Soldiers to Guard Major Oil & Gas Plants After Nord Stream Leaks
Norway’s military said on Monday it had posted soldiers to help guard major onshore oil and gas processing plants, part of a wider effort to boost security amid suspicion that sabotage caused leaks in the Nord Stream gas pipelines last …
Tool to Measure Workplace Mental Health Backed by 40 Corporate Partners (Including AXA, Aon)
A coalition of corporate, academic and nonprofit partners including Bank of America Corp. and insurer AXA SA has developed a tool that employers can use to measure and improve the mental health of their workers. The assessment, known as the …
MGA Arcadian Risk Capital Gets Regulatory Approval for London, Dublin Companies
Arcadian Risk Capital Ltd., a Bermuda-based managing general agent (MGA) and part of the “Class of 2020” announced that it has received regulatory approvals for new London and Dublin companies. Arcadian UK standalone authorization was approved by the Financial Conduct …
UK Bond Market Crash Takes Shine Off Plans to ‘Unshackle’ City of London
Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her “Big Bang” plan for financial services. Markets took fright last …
Michigan Supreme Court to Hear Car Insurance Case
The Michigan Supreme Court agreed last week to decide whether major changes in car insurance law apply to people who were catastrophically injured before summer 2019. The case is being closely watched by insurers, health-care providers and long-term victims of …
Mississippi to Get $221M to Address Flood Risks
The U.S. Army Corps of Engineers said on Monday it will spend almost $800 million to address flood mitigation, coastal storm damage protection and address supply chain resilience. About $221 million will address flooding for the Pearl River in Jackson, …
Police Investigate Dallas House Fire After 3 Bodies Found
Police in suburban Dallas are investigating after three adult family members were found dead in house fire, one with a gunshot wound to the head and two with signs of trauma. Carrollton police said firefighters who responded to the Saturday …
Pay-As-You-Go Cargo MGA Closing Insurance Protection Gap for Shippers
After many years working as a freight and logistics broker in the London market, Johnny McCord understood where the freight industry’s “pain points” were and thought technology and artificial intelligence (AI) could solve some of the underinsurance problems facing SMBs. …
Florida Cities Crushed by Ian Face Highest Borrowing Costs in Decade
Florida cities looking to rebuild from the devastation of Hurricane Ian will be financing their efforts during the worst environment for municipal borrowing in more than a decade. Washed-out roads and bridges are only the most glaring examples of urgent …
Hurricane Ian, Anti-Concurrent Loss Language, and Ambiguities
On September 28, 2022, the nearly Category 5 Hurricane Ian made landfall in southwest Florida with maximum sustained winds clocked at approximately 150 MPH. Reports out of Lee County, Florida have been particularly devasting, with images of communities wiped out …