INSURANCE NEWS
People Moves: Acrisure Re Hires Carpenter’s Furlong; HDI Global Specialty Promotes Button for Distribution & Biz Devel.; Tokio Marine Names Former QBE Exec for Board
This edition of International People Moves details appointments at broker Acrisure Re and two insurers: HDI Global Specialty and Tokio Marine Europe. A summary of these new hires follows here. Acrisure Re Hires Carpenter’s Furlong Acrisure Re, the re/insurance division …
UK Insurers, Banks Risk Fines Under New Reforms Unless They Put Customers First
Financial firms may be fined and stripped of their regulatory authorization unless they put their customers’ needs first under far-reaching reforms from the UK City regulator. Banks, insurers and other companies will have to ensure their services are actually good …
Woman Pleads Guilty in Louisiana Staged Auto Collision Scheme
United States Attorney Duane A. Evans announced that Stacie Wheaton, age 51, of Fairburn, Georgia, pled guilty on July 21, 2022 to count one (1) of her indictment, charging Conspiracy to Commit Mail Fraud in violation of Title 18, United …
Powerful 7.1 Magnitude Quake Hits Philippines, Killing at Least 4
A powerful 7.1 magnitude earthquake struck the northern Philippine island of Luzon on Wednesday killing four people, damaging buildings and sending strong tremors through the capital, Manila. Two people were killed in Benguet province, one in Abra province, and one …
Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon
Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18% higher than the 21st century average of $33 billion, driven by persistent severe convective storm (SCS) events, according to Aon in …
Michigan Jury Gets Flint Water Case About Liability for Engineers
Jurors heard closing arguments last week in the only trial to arise thus far from the Flint water crisis, a dispute over whether two engineering firms should be held partially responsible for the city’s lead contamination in 2014-15. Attorneys representing …
Officials Investigate Missouri Theme Park Worker’s Death
An employee of Silver Dollar City near Branson, Missouri has died from head injuries while working at the park, federal officials said. The employee was hospitalized Wednesday with “head injuries allegedly sustained during maintenance and testing of a rollercoaster,” said …
Brown & Brown’s GRP Acquires Insurance Portfolio of WM Brokers Ltd.
Global Risk Partners (GRP), part of Brown & Brown, announced it has acquired the general insurance portfolio of Woodward Markwell Insurance Brokers Ltd. (WM Brokers Ltd). The deal marks GRP’s 100th acquisition since 2013, when the business was founded. Financial …
Ford Bronco Engine Failures Prompt US Safety Investigation
Ford Motor Co.’s hot-selling Bronco sport-utility vehicle is the subject of a safety investigation by federal regulators for catastrophic engine failure that can cause the vehicle to lose power at highway speeds. The US National Highway Traffic Safety Administration said …
Teva Reaches Proposed $4.35 Billion Settlement of Opioid Lawsuits
Teva Pharmaceutical Industries on Tuesday announced a $4.35 billion proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker’s alleged role in the U.S. opioid epidemic. The proposal calls for Teva to pay state and local governments up …
California Commissioner Announces Action to Protect Residents from Non-Renewals
California Insurance Commissioner Ricardo Lara on Tuesday sent out a message to residents in Mariposa County who have been ordered to evacuate due to the Oak Fire that they may have homeowners or renters insurance to help with evacuation and …
Chubb Q2 Net Income Drops $1 Billion; Books Record Insurance Results
Chubb Ltd. late Tuesday said second quarter net income was about $1.22 billion, more than a 46% fall from $2.27 billion in net income logged during the same period a year ago. The insurer said it lost $565 after tax …