INSURANCE NEWS
Big I President & CEO Rusbuldt to Retire Next Year
The longest tenured top executive of the Independent Insurance Agents & Brokers of America (Big I) has decided to step down. Bob Rusbuldt, who has been the CEO of Big I since 2001, informed the association’s national board of directors …
Storm Battering Western Alaska Caused Widespread Flooding
A powerful storm sweeping north through the Bering Strait on Saturday caused widespread flooding in several western Alaska coastal communities, knocking out power and sending residents fleeing for higher ground. The force of the water moved some homes off their …
Puerto Rico Begins Restoring Power After Storm Snuffs Grid
Power is slowly being restored to parts of Puerto Rico Sunday after Atlantic storm Fiona clipped the island as a Category 1 hurricane, knocking out electricity to the entire US territory and causing “catastrophic damage,” Governor Pedro Pierluisi said. Packing …
State Farm Agrees to Settle Katrina Claims Lawsuit with Mississippi AG
Mississippi has quietly settled its lawsuit against State Farm Fire and Casualty Co. for allegedly minimizing its Hurricane Katrina payments to policyholders, leaving the state to compensate homeowners. The settlement says the $12 million payment represents “restitution for damage, which …
People Moves: Gambale Joins AGCS From AIG; AXA XL Appoints 2 to Group Captives Unit
AGCS Strengthens North American Distribution Team with Strategic New Hire and Reorganization Allianz Global Corporate & Specialty (AGCS) has named John Gambale as regional head of distribution NA, large corporate, effective Oct. 3. He will be based in New York …
U of Vermont President Denies Allegations of Anti-Jewish Bias on Campus
The president of the University of Vermont issued a blistering denial Thursday of allegations the university failed to adequately respond to complaints of anti-Jewish behavior on the Burlington campus. In a message to the university community, President Suresh Garimella said …
Howden Acquires Born Consulting AG in Switzerland
Howden, the London-based independent insurance broker, announced the acquisition of Swiss broker Born Consulting AG. Founded in 2003 and based in Bern, Switzerland, Born Consulting is an independent insurance broker for national and international intermediaries, large companies and the public …
Teva Pharm expects to start paying U.S. opioid settlement in 2023: CEO
Teva Pharmaceutical Industries expects to finalize an opioid settlement in the United States by year-end and start paying in 2023, its chief executive said on Sunday, while confirming he was unlikely to renew his contract next year. After years of …
Assets of World’s Largest Companies at Growing Risk of Climate Impact: S&P
Over 90% of the world’s largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday. From heatwaves …
Powerful Typhoon Unleashes Torrential Rain, Floods, Winds in Japan
A powerful typhoon barreled through southwest Japan on Monday, unleashing torrential rains and lashing winds that killed at least two people, triggered floods and caused thousands to evacuate to safety. Typhoon Nanmadol is heading on a northeast path along the …
‘Quirky’ Wording Sinks Evanston’s Exclusion, Appeals Court Finds in Sex Assault Case
The New Year’s Eve sexual assault of a patient at a Miami hospital’s mental health ward made headlines around Florida in 2019. Three days after the incident, Fernando Felix Ramos-Garcia, a technician at Westchester General Hospital, was arrested. The man …
InsureScan Expands Auto Insurance Tech Approach to Alabama
InsureScan, a company that says its software can help agents quote and bind auto coverage in a few minutes, has expanded to Alabama. CEO Mark Chappell, who is based in Alabama, said that while some insurance companies are bypassing local …