INSURANCE NEWS
Wells Fargo to Move Wealth Headquarters to West Palm Beach
Wells Fargo & Co. is moving the headquarters for its wealth-management business to West Palm Beach, becoming the first big bank to run that operation from the heart of the wealth boom in South Florida. The San Francisco-based firm signed …
Texas Faces Freeze While Weekend Snow Risks Rise in New York
A massive winter storm will sweep across a huge swath of the US starting Friday, freezing Texas before roaring up the East Coast, where New York City and Boston are seeing a strong chance of heavy snow by Sunday. Air …
Trucordia Continues Expansion With Acquisition of Florida Insurance Inc.
Trucordia, ranking in the top 20 largest U.S. insurance brokerages, has again expanded its reach, this time with the acquisition of Florida Insurance Inc. in Dunedin, near Tampa. Trucordia, based in Lindon, Utah, offers commercial and personal lines and employee …
Insurtech Lemonade Starts Autonomous Car Product With Tesla’s Data
Insurtech Lemonade said it has launched Lemonade Autonomous Car insurance, and will begin with a technical collaboration with Tesla that gives the insurer access to vehicle data. For starters, Lemonade said the new offering cuts per-mile rates for Tesla’s full …
Japan’s TEPCO Restarts Nuclear Reactor for First Time Since Fukushima Disaster in 2011
Tokyo Electric Power Co. (TEPCO) Wednesday restarted a reactor at the Kashiwazaki-Kariwa nuclear power plant after inspections were completed, its first such move since the Fukushima disaster in 2011. TEPCO put online the 1.36 gigawatt (GW) reactor No. 6, one …
Experts Can Testify About Suspected J&J Talc Products’ Cancer Link
In a victory for thousands of women suing Johnson & Johnson over claims that the company’s baby powder and other talc products caused their ovarian cancer, a court-appointed special master recommended on Tuesday that they be allowed to present testimony …
EU ‘Fully Prepared’ to Hit Back Over Trump’s Greenland Tariffs
The European Union is ready to strike back at Donald Trump over his tariff threats as he seeks to take Greenland, European Commission President Ursula von der Leyen said, toughening her rhetoric against the US president. “We are at a …
CEO Revenue Confidence Hits 5-Year Low: PwC Survey
Only three in 10 chief executives are confident in their companies’ revenue growth prospects over the next year, the lowest level in five years, according to a global survey by professional services group PwC released on Monday. The annual survey …
PE Firm TowerBrook Takes Stake in Insurance Claims Company MSA Mizar
Investment firm TowerBrook is acquiring a majority stake in MSA Mizar, an insurance claims management services provider, marking its first deal in Italy since it opened an office in Milan last year. MSA Mizar’s existing investor Columna Capital and the …
Viewpoint: Inside the Machinery of Medical Abuse in Liability Claims
Within the realms of general liability (GL) and workers’ compensation (WC) insurance lines, medical abuse is often considered in narrow terms — excessive treatment, unnecessary surgeries, inflated bills. While such behaviors are indeed problematic, a wider spectrum of medical abuse …
The battle between Applied Systems and Comulate has taken a new turn with a new federal antitrust lawsuit from Comulate. Late last year the competitors in the insurance technology market traded litigation. Applied Systems sued Comulate on allegations that Comulate …
Allianz Executive Pushes EU to Pressure US With Market Volatility
European policymakers should fuel market turbulence to pressure US President Donald Trump to back down from his Greenland claim, according to a senior executive at Allianz Global Investors. “If I were an adviser to some European governments, I would say …