INSURANCE NEWS
People Moves: WTW Hires Kharkavets as North America Head of ICT Claims
WTW, with U.S. headquarters in Arlington, Virginia, appointed Alena Kharkavets as North American head of claims in its insurance consulting and technology (ICT) business. Kharkavets comes to WTW from Intact Financial Corporation, where she held progressively senior roles and spent …
Intense Downpours are More Frequent, But Flooding Severity Remains Hard to Predict
It’s not just Texas and North Carolina. Intense rain is falling more frequently in many areas of the U.S. — though where it occurs and whether it causes catastrophic flooding is largely a matter of chance, according to experts. More …
Car Manufacturer Sued for Refusing to Allow Jewish Employee to Observe the Sabbath
FCA US, LLC, an international automobile manufacturer of Chrysler, Dodge, Jeep, Ram and Fiat car brands, violated federal law by refusing to accommodate an employee’s request to observe the Sabbath and take unpaid leave for Passover, the U.S. Equal Employment …
White Mountains Buys Majority Ownership of Distinguished Programs for $230M
White Mountains Insurance Group on Monday said it has a deal in place to acquire about 50% of Distinguished Programs for $230 million. With the buy of the outstanding equity shares, White Mountains will own 51% of Distinguished, an independent …
SEC, SolarWinds Reach Settlement to End Lawsuit Related to 2020 Breach
The U.S. Securities and Exchange Commission and software company SolarWinds Corp. have reached a settlement, ending a federal lawsuit that alleged investor fraud and known cybersecurity vulnerabilities. Early this month the SEC and SolarWinds jointly filed to stay the case, …
Chantal Flooding Forces Dozens to Flee Homes in North Carolina
CHAPEL HILL, N.C. (AP) — Floodwaters from the remnants of Tropical Storm Chantal swept a woman in her car from a rural road and forced dozens of people to flee their homes, officials in North Carolina said Monday. Parts of …
Containment Increases on California Wildfire That Forced Evacuations
Firefighters are making progress on the biggest wildfire in California this year. Containment has increased on the Madre Fire to 35%. The wildfire on the central coast of California has burned 80,603 acres, prompting evacuation orders and closing part of …
Governor Signs Bill That Ends One State-Backed Reinsurance Layer, Reduces Another
Florida Gov. Ron DeSantis last week put his signature on House Bill 5013, which ends one state-backed level of reinsurance and slashes another one, a move that could create a little more demand for private reinsurance coverage in the state. …
Appeals Court Nixes Class Actions Against Progressive Over Actual Cash Value
Progressive Insurance will not have to face two class actions by Pennsylvania insureds alleging that the insurer systematically underestimated the actual cash value (ACV) of their totaled vehicles and thus breached its insurance agreements with them under state law. The …
People Moves: Liberty Specialty Promotes Fraigneau to President, Europe; Insurance Industry Charitable Foundation Launches in Canada With Gladki as Exec Director
This edition of International People Moves details appointments at Liberty Specialty Markets in Luxembourg and the Insurance Industry Charitable Foundation in Canada. A summary of these new hires follows here. Liberty Specialty Promotes Fraigneau to President, Europe, as Sinz Retires …
Virginia Sends Swift Water Rescue Teams to Help Texas Flood Recovery Efforts
In response to the catastrophic flooding impacting portions of Texas, Virginia Governor Glenn Youngkin announced the deployment on Monday of two Virginia swift water rescue Teams to assist in the ongoing recovery efforts. The deployment is at the request of …
Market/Coverages: Willis Launches $200M Cargo Facility for Rising Geopolitical Risks
Willis, a WTW business, has launched ‘Undercover,’ a new $200 million facility, combining coverage for a range of geopolitical exposures faced by cargo owners worldwide. Developed by Willis in a joint proposition with specialist insurer, Markel, Undercover offers a unique …