INSURANCE NEWS
Generali Weighs Deal With U.S. Asset Manager Guggenheim Partners
Assicurazioni Generali SpA is exploring a deal with US investment firm Guggenheim Partners to bolster its asset management business, according to people familiar with the matter. Italy’s biggest insurer has held informal talks on options ranging from a full acquisition …
Peloton, Lululemon Settle Lawsuit Over Women’s Apparel Line
Peloton Interactive Inc. has reached a settlement of a lawsuit in which Lululemon Athletica Inc. accused the exercise bike maker of infringing its patents by developing a line of apparel for women. Without admitting wrongdoing, Peloton has agreed to phase …
Judge Dismisses Mexico Lawsuit Against Gun Manufacturers
A U.S. federal judge on Friday dismissed a lawsuit brought by the Mexican government against U.S. gun manufacturers arguing their commercial practices has led to bloodshed in Mexico. Judge F. Dennis Saylor in Boston ruled Mexico’s claims did not overcome …
Confie Acquires CoWest Insurance Group in Colorado
Confie acquired Colorado-based CoWest Insurance Group and the firm’s 30 insurance agency network. The acquisition underscores Confie’s plans to create an insurance agency network for independent agents within their national brand, InsureOne. CoWest will continue to operate under its current …
Ian Storm Surge Devastated Part of Florida, But Many Without Flood Coverage
FORT MYERS, Fla. – Dave Lusk, who lives on San Carlos Island, sandwiched between Fort Myers and devastated Fort Myers Beach, Florida, told the story of how his daugther and her family decided to ride out Hurricane Ian in their …
Takeaways from Our Conversation on Cannabis Risk Management
Some organizations view risk management as merely slowing down and planning before proceeding, while others make it a key organizational building block. Risk management in the cannabis industry is still new, and underdeveloped, according to one expert on the topic. …
Jurors to Decide Damages Amount in Sandy Hook Defamation Suit
After watching days of testimony that included the parents of slain children breaking down on the witness stand, a Connecticut jury soon will have the difficult task of coming up with a dollar amount that conspiracy theorist Alex Jones should …
Jury Says Funeral Home Must Pay $5.5M for Not Refrigerating Bodies
A funeral home operator accused of leaving bodies unattended without refrigeration must pay $5.5 million to the daughter of a man whose body lay decomposing for up to two weeks. The jury’s award on Friday marked the conclusion of the …
KCC Estimates Near $63B in Hurricane Ian Insured Losses
Catastrophe modeler Karen Clark & Company (KCC) late Friday said the firm estimates insured losses from Hurricane Ian will near $63 billion. Should KCC’s calculations hold true, Ian will surely be remembered as one of the costliest hurricanes in U.S. …
California Workers’ Comp Written Premium up 27% in First Half of 2022
The Workers’ Compensation Insurance Rating Bureau of California released its Quarterly Experience Report, which reflects an increase in written premium due to economic recovery from the pandemic. The report is an update on California statewide insurer experience valued as of …
People Moves: AXA XL Reinsurance Promotes Twite to CEO, Bermuda; MGA Rokstone Hires 3 Engineering Underwriters From Globe
This edition of International People Moves details appointments at AXA XL Reinsurance and the MGA Rokstone. A summary of these new hires follows here. AXA XL Reinsurance Promotes Twite to CEO, Bermuda AXA XL Reinsurance announced it has appointed Mark …
Insurer Off the Hook in Defending Western Union Against Terrorist Financing Suit
An insurer’s war and financial services exclusions relieve it of having to provide coverage for an insured being sued for allegedly aiding international terrorists responsible for the crash of Malaysia Airlines Flight 17 in eastern Ukraine in 2014. The U.S. …