INSURANCE NEWS
Allstate’s $1.7M RICO Claims Fraud Suit Merits Trial, Not Arbitration: NJ High Court
New Jersey’s high court has ruled that Allstate Insurance has a right to a jury trial for its fraud and conspiracy claims brought against more than 30 medical providers under the state’s Insurance Fraud Prevention Act (IFPA) and the Anti-Racketeering …
Marsh Reports 6% Revenue Increase in Q2, as Reinsurance Unit Sees 2% Decline
Insurance broker Marsh reported consolidated revenue of $7.4 billion during the second quarter, an increase of 6% over Q2 2025, or 5% on an underlying (organic) basis. Q2 operating income increased 4% to $1.9 billion, while net income attributable to …
Markets/Coverages: WBN Launches Duty of Care Offering for Mobile Workforces; Rokstone Gains Capacity for Autotransporter Solution
Independent insurance broking and employee benefits network Worldwide Broker Network (WBN) launched Duty of Care Zone, a dedicated resource designed to help multinational organizations build coordinated, gap-free strategies to ensure globally mobile workforces are supported and compliant. The launch comes …
People: Georgia’s Walker Named President of National Benefits and Insurance Group
Mychal Walker, owner of an insurance agency in Duluth, Georgia, has been named president of the National Association of Benefits and Insurance Professionals. He succeeds Susan Rider. Walker is president of The Walker Agency, a retirement planning firm, and is …
Iran’s Forces Attack Bahrain and Kuwait After US Hits Iranian Ports and Cities
U.S. forces bombed Iran’s south and west after President Donald Trump said Tehran would pay dearly for the deaths of American soldiers, while Iran targeted U.S. sites in Bahrain, Kuwait and Jordan on Tuesday and a tanker was hit in …
Buffalo Man Pleads Guilty to Arson That Destroyed The Old Pink
In the early morning hours of June 17, 2024, the Buffalo Fire Department (BFD) responded to the scene of a fire at 223 Allen Street, a restaurant/bar known as The Old Pink. The building was engulfed in flames and was …
WR Berkley Reports Q2 Net Income Increase of 12.7%
Second quarter 2026 net income at W.R. Berkley Corp. increased about 12.7% compared to the same period a year ago to about $452.3 million. Operating income for the second quarter was $497.1 million, up from $420.5 million during the same …
Ten Workers Die After India Hydro Project Tunnel Collapses
At least 10 workers died and more maybe trapped after an under-construction tunnel at a hydroelectric project collapsed in India’s northeastern state of Sikkim. The tunnel at state-run NHPC Ltd.’s 500-megawatt Teesta-VI project caved in around midday on Monday after …
Rising Professional Boxer Killed in Texas Bicycle Incident
A rising professional boxer who was riding her bicycle along a rural Texas road died after officials say a motorist drove by her, stopped and then reversed into her. Hannah Rapp, 26, was riding with another person Saturday morning when …
Red Sea War Insurance Costs Rise After Houthi Blockade, Sources Say
The insurance cost of shipping goods through the Red Sea rose on Monday after Yemen’s Iran-aligned Houthis said they were imposing a naval blockade on Saudi Arabia, escalating risks for merchant shipping, insurance industry sources said. The move by the …
Insurance Woes Amid US-Iran War Stall Airlines’ Return to Dubai
Challenges in securing insurance as hostilities between the US and Iran escalate are slowing the return of some foreign airlines to Dubai, the chief executive of the entity that owns and manages its airports said. International carriers’ operations to Dubai …
People Moves: MacLean Named VP, Head of Surety at Frankenmuth
Frankenmuth Insurance promoted Keith MacLean to vice president, head of surety. MacLean has over 20 years of industry experience and most recently served as vice president, commercial surety field operations. In his new role, MacLean will be responsible for setting …