INSURANCE NEWS
Oil Company Settles Criminal Cases In California Spill
An oil company on pleaded guilty in federal court to negligently discharging crude off the Southern California coast when its underwater pipeline ruptured last year, a spill that closed miles of shoreline and shuttered fisheries. Meanwhile, in state court, Houston-based …
Forest Fuel Restarted After Pause Runaway New Mexico Blaze
The U.S. Forest Service is resuming its practice of intentionally lighting fires to clear brush and small trees from forested areas nationwide after a three-month hiatus to review the risks of runaway wildfires under increasingly severe climate conditions, the agency …
Threat from Western Wildfires Persists Despite Help of Weather
Firefighters made progress against a huge Northern California wildfire that was still growing and threatening thousands of mountain homes on Sunday, while crews also battled major blazes that blanketed large swaths of Oregon and Washington in smoke. The Mosquito Fire …
Price Increases Continue at 6% for U.S. Commercial Insurance in Q2: WTW
U.S. commercial insurance prices increased again during the second quarter 2022, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was nearly 6%. The survey compared prices charged on policies underwritten …
People Moves: Donavan CUO at Boost; Tasker New Head of AGCS Energy, Construction
Boost Insurance Appoints Emy Donavan as Chief Underwriting Officer Boost appointed Emy Donavan as chief underwriting officer. She will oversee the company’s program underwriting, product development, and portfolio management in collaboration with Boost’s insurtech and embedded partners along with the …
Florida Butt-Lift Doctor Banned from Surgery After Second Patient Dies at Clinic
A second patient has died after surgery at a Brazilian butt-lift clinic in south Florida, and the state medical board has banned a surgeon there from performing the procedures. The Miami Herald reported that Dr. John Sampson will be allowed …
Supreme Court Temporarily Blocks LGBTQ Order at New York’s Yeshiva University
The Supreme Court has temporarily blocked a court order that would have forced Yeshiva University to recognize an LGBTQ group as an official campus club. The court acted Friday in a brief order signed by Justice Sonia Sotomayor that indicated …
G7’s Price Cap on Russia Oil Takes Shape but Will Russia Sidestep Insurance Rules?
The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost …
People Moves: Everest Re Taps Nationwide’s Rudow as Head of Cyber Reinsurance; BMS Re Names McDowell as Bermuda CEO, Binetti as Head of Casualty Treaty
This edition of International People Moves details appointments at Everest Reinsurance and BMS Re. A summary of these new hires follows here. Everest Re Taps Nationwide’s Rudow as Global Head of Cyber Reinsurance Everest Reinsurance, the reinsurance division of Everest …
Lockton Re Forms Capital Markets Unit
Lockton Re, the global reinsurance business of independent insurance broker Lockton, has formed Lockton Re Capital Markets (LRCM), designed to serve clients by accessing broader pools of capital, thereby providing complementary solutions to existing client offerings. “This investment underscores our …
MS Amlin AG to Rebrand as ‘MS Reinsurance’
MS Amlin AG announced it would rebrand this month to MS Reinsurance, which is a reflexion of parent company MS&AD’s commitment to building a leading, globally diversified reinsurer. The company said that MS Reinsurance clients will continue to benefit from …
Autonomous Cars May Always Need Remote Human Supervisors, Experts Say
MILTON KEYNES, England — Autonomous vehicle (AV) startups have raised tens of billions of dollars based on promises to develop truly self-driving cars, but industry executives and experts say remote human supervisors may be needed permanently to help robot drivers …