INSURANCE NEWS
Texas Manufacturing Company Fined $400,000 Over Worker’s Injuries
A federal workplace safety investigation found that a temporary worker suffered serious injuries on Jan. 3, 2022, after being struck by a large mold at a Texas concrete polymer manufacturing company. It was determined that the employer failed to install …
People Moves: Gray Insurance Co. Names Boudreaux as President; Beacon Hill Adds Radcliffe, Skiles
The Gray Insurance Company Names Borne “Paul” Boudreaux, III as President The Gray Insurance Company announced that Borne “Paul” Boudreaux, III will be named President of the Company, effective July 1, 2022. In his new position, he will take a …
Marsh & McLennan Acquires Illinois’ CS Insurance Strategies
Marsh & McLennan Agency LLC acquired CS Insurance Strategies, full-service insurance broker based in Chicago. CS Insurance Strategies was founded in 2009 by Charles Smith, creating a minority-owned brokerage providing employee health and benefits, business insurance, and risk management consulting …
Family of Boy Killed in Iowa Amusement Park Accident Sues Facility
The family of an 11-year old boy who died on a water ride at an Iowa amusement park a year ago filed a wrongful death lawsuit in state court last week, alleging the park failed to properly maintain and repair …
Markets/Coverages: Physicians Mutual Unleashes Pet Insurance; Allianz Expands Cyber Capacity for Coalition
Physicians Mutual Launches Pet Insurance Physicians Mutual has launched pet insurance for dogs and cats. Physicians Mutual Pet is the company’s first entry into the property/casualty market. Physicians Mutual Pet is currently available in 34 states amid a national rollout. …
Drug Distributors Prevail in $2.5 Billion West Virginia Opioid Case
Major U.S. drug distributors McKesson Corp., AmerisourceBergen Corp., and Cardinal Health Inc. are not responsible for fueling an opioid epidemic in a part of West Virginia, a federal judge ruled on Monday. U.S. District Judge David Faber rejected efforts by …
Gang Members Charged With Violent Takeover of New York Fire Mitigation Industry
FBI, Homeland Security and New York police officials have charged nine defendants including gang members with a violent racketeering and extortion conspiracy in attempting to take over an entire industry designed to help victims after a fire. The defendants, who …
Generali Completes Acquisition of La Médicale from Crédit Agricole Assurances
Generali has completed the acquisition of La Médicale from Crédit Agricole Assurances, following receipt of the necessary approvals from relevant regulatory and competition authorities, for €435 million (US$453.8 million) The acquisition, which was first announced in February, also includes the …
Stricken Bulk Carrier Remains Stranded Near Sydney as Rescue Efforts Fail for 21 Crew
Twenty-one crew members remain aboard a bulk carrier which lost power in turbulent waters near Sydney, after overnight rescue attempts failed. The MV Portland Bay, which has been without power since early Monday, has been off the coast of New …
Howden Buys New Zealand Broker Wallace McLean
Howden, the London-based insurance broker, announced the acquisition of Wallace McLean, which further strengthens its local expertise and provides an enhanced platform for its strategic growth plans in New Zealand. Wallace McLean was founded in 2001 and is a well-established …
Ardonagh Europe to Acquire Léons Group in the Netherlands
Ardonagh Europe Ltd., the Dublin-based subsidiary of The Ardonagh Group, announced it has agreed to acquire Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons …
Italian Court Turns Down Request to Lift Freeze on Russian Businessman’s Yacht
ROME – An Italian court has thrown out requests to unfreeze billionaire Alexey Mordashov’s yacht which was seized by the police as part of a drive by Western states to target wealthy Russians after the invasion of Ukraine. Mordashov’s 65 …