INSURANCE NEWS
Ardonagh Europe Agrees to Acquire French Broker, Groupe Leader Insurance
Ardonagh Europe, part of The Ardonagh Group and headquartered in Dublin, Ireland, has agreed to acquire Groupe Leader Insurance (GLI), one of the top 10 wholesale and multi-specialist brokers in France. Founded in 2003 by entrepreneur Yoann Chery, GLI has …
People Moves: Lockton Re Taps Le Flufy From Gallagher Re as Global Head of Cyber; Marsh McLennan Promotes McGowan as Chief Commercial Officer, International
This edition of International People Moves details appointments at Lockton Re and Marsh McLennan. A summary of these new hires follows here. Lockton Re Taps Le Flufy From Gallagher Re as Global Head of Cyber Lockton Re, the reinsurance business …
Wildfire Smoke Set to Cause Mounting Deaths and Economic Losses
Increased wildfire smoke could lead to 1.4 million premature deaths globally each year by the end of this century, according to a new study. Scientists at China’s Tsinghua University found that early deaths linked to particulate matter in wildfire smoke …
Generali’s $2.2 Trillion Natixis Tie-Up Faces Growing Doubts
Eight months after Assicurazioni Generali SpA and BPCE SA announced their intention to create Europe’s second-biggest asset manager, their plan is looking increasingly fragile. Neither firm has yet submitted the contract for signing to their respective boards even though that …
China’s EV Boom Saddles Its Auto Insurers With Chronic Losses
China’s giant electric vehicle insurance market is flailing. Losses are piling up, as companies’ risk models haven’t kept up with changes in vehicle economics and driver behaviors. The country now has tens of millions of electric cars on its roads, …
Super Typhoon Lashes Philippines on Track Toward Hong Kong
Hong Kong is bracing for widespread damage and disruption from the approaching Super Typhoon Ragasa, which is currently churning off the northeast coast of the Philippines with tree-snapping winds. The powerful storm is packing maximum sustained winds of 230 kilometers …
Europe Air Travel Snarls Continue After Cyberattack
Airports in Berlin, London and Brussels faced continued delays on Sunday after a cyberattack on a key airline check-in system forced staff to process passengers manually. The outage stems from a cyber incident at Collins Aerospace that knocked out its …
FTC Says Live Nation, Ticketmaster Joined With Ticket Brokers to Exploit Fans
The U.S. Federal Trade Commission and seven states accused Live Nation and its ticketing arm Ticketmaster of costing fans millions of dollars by tacitly allowing ticket brokers to scoop concert tickets and sell them to at a significant markup, the …
Starbucks Workers Sue Over Company’s New Dress Code
Starbucks workers in three states took legal action against the coffee giant Wednesday, saying it violated the law when it changed its dress code but refused to reimburse employees who had to buy new clothes. The employees, who are backed …
Judge Throws Out Trump’s $15B Lawsuit Against New York Times
A federal judge on Friday threw out U.S. President Donald Trump’s $15 billion defamation lawsuit against the New York Times over its content, calling it a “decidedly improper and impermissible” effort to attack his adversaries. U.S. District Judge Steven Merryday …
Insurers Fighting $345M Georgia School Abuse Award, With Policy Wording at Issue
In one of the grimmest, longest-running and most-litigated episodes of alleged child sexual abuse at a private school, the key question in a case now before the Georgia Court of Appeals is whether insurers’ recent policies barred coverage for incidents …
Court Upholds New York’s Gun Restrictions, Including Times Square and Subway Bans
No guns for Elmo, Spider-Man or anyone else in New York’s Times Square — and don’t try sneaking them into the subway, either. That is the decision last Friday from a federal appeals court effectively upholding a New York state …