INSURANCE NEWS
People Moves: Rockford Mutual Promotes Kriens to Claims VP as Kennedy Retires
Rockford Mutual Insurance Company (RMIC), headquartered in Rockford, Illinois, promoted Ann Kriens to the position of claims vice president. Kriens joined RMIC in 2014 with 20 years of claims experience at Economy/MetLife, serving as an adjuster, support supervisor, property subrogation …
Cyberattack on Brazil Tech Provider Hits Reserve Accounts of Some Financial Institutions
Brazil’s central bank said on Wednesday that technology services provider C&M Software, which serves financial institutions lacking connectivity infrastructure, had reported a cyberattack on its systems. The bank did not provide further details of the attack, but said in a …
Business Moves: Specialist Risk Group Acquires Generation Underwriting From WF Risk Group; Ardonagh Acquires Majority Stake in Apex Insurance in Hong Kong
Specialist Risk Group Acquires Generation Underwriting From WF Risk Group Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of managing general agent Generation Underwriting, which has offices in Newcastle and Belfast, from WF Risk Group. Financial details …
Aon’s Albert G. Ruben Joins Relation Insurance
Relation Insurance Services said late last month that it acquired Aon’s Albert G. Ruben, a brokerage for the entertainment industry for the last 65 years. Terms of the deal were not disclosed. The Albert G. Ruben name and team will …
Florida Taps Contractors With No Detention Experience for ‘Alligator Alcatraz’
On June 20, nearly three weeks into the Atlantic hurricane season, Florida disaster-management officials assembled a group of emergency relief contractors in Tallahassee and asked them to do something they had never done before. Governor Ron DeSantis wanted to construct …
Data Call: South Carolina DOI Sets August Deadline for Liability Insurance Info
In keeping with state law, the South Carolina Department of Insurance is again asking carriers to submit extensive data on commercial liabilty and liquor liability coverage in the state. The data should be submitted by Aug. 31 and should include …
Zurich Insurance Buys Canadian Insurance Technology Firm BOXX
Zurich Insurance Group AG agreed to buy BOXX Insurance Inc, a Canadian cyber risk management firm, marking the Swiss insurer’s latest push into the insurance technology sector. The acquisition will see BOXX becoming part of Zurich’s platforms business, Zurich Global …
Reinsurance Renewal Prices Moderate as Capacity Exceeds Cedent Demand: Brokers
Strong returns in the reinsurance sector are attracting capital and leading to favorable pricing outcomes for buyers — but underwriting discipline continues, according to renewal reports from three reinsurance brokers. Despite heavy natural catastrophe losses in the first quarter, reinsurance …
Retailers Sue New York to Block Algorithmic Pricing Law
New York state was sued on Wednesday by the National Retail Federation over a new law requiring retailers to tell customers when their personal data are being used to set prices, known as surveillance pricing. The world’s largest retail trade …
Massachusetts High Court Orders Workers’ Comp Trust Fund Payments
In two separate rulings, the Massachusetts Supreme Judicial Court has found that an insurer in runoff and the state’s insolvency fund were both wrongly denied certain payments they are entitled from the state’s workers’ compensation fund. The high court found …
Trump Asks Supreme Court to Allow Removal of Consumer Product Safety Commissioners
President Donald Trump’s administration asked the U.S. Supreme Court on Wednesday to intervene in his bid to fire three Democratic Consumer Product Safety Commission members by putting on hold a judicial order calling for their reinstatement. In the latest fight …
Mount Everest’s Trash-Covered Slopes Are Being Cleaned by Drones
Human waste, empty oxygen cylinders, kitchen leftovers and discarded ladders. Sherpas working on Mount Everest carry all that and more — 20 kilograms (44 pounds) per person — navigating a four-hour hike that traverses crumbling glacial ice and treacherous crevasses …