INSURANCE NEWS
Whole Foods Supplier Hack Leaves Empty Shelves, Stalls Forklifts
United Natural Foods Inc., a grocery distributor for Amazon Inc.’s Whole Foods Market, is working to bring systems back online by June 15 and resume product deliveries after a cyberattack disrupted its operations, leaving some store shelves barren of ice …
Samsung Fire & Marine Insurance Increases Stake in Lloyd’s Insurer Canopius
Canopius Group, the London-based specialty and property/casualty insurer and reinsurer, announced that Samsung Fire & Marine Insurance (SFMI) has entered into an agreement to purchase an additional 21% equity stake, bringing its shareholding to 40%. This stake has been purchased …
Ategrity Specialty Seeks $113.3 Million in IPO
Ategrity Specialty Insurance Company Holdings announced today the pricing of its expected initial public offering (IPO)of 6,666,667 shares of common stock at a public offering price of $17.00 per share. The aggregate gross proceeds to the company from the offering …
Musician Conner Smith Fatally Struck a Pedestrian in Nashville. No Charges Yet
Country musician Conner Smith fatally hit a pedestrian while driving his truck in Nashville over the weekend, and he currently faces no charges as an investigation continues, police said. Metro Nashville Police said Smith, 24, hit Dorothy Dobbins, 77, Sunday …
North Carolina Auto Rates to Rise for Second Time This Year After Agreement
North Carolina automobile insurance rates are poised to increase statewide by a 5% average this fall as part of an agreement reached between state regulators and the insurance industry. The increase comes six months after lawmakers raised minimum auto liability …
US Commercial Lines Prices Up 5.3%, Continue Downward Trend: WTW CLIPS
U.S. commercial insurance rates went up again in the first quarter 2025, according to the latest findings from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS). Carriers reported an aggregate price increase of 5.3% during the first three months of 2025 …
Trump FAA Nominee Calls Near-Miss Incidents at DC Airport Unacceptable
President Donald Trump’s nominee to head the Federal Aviation Administration said on Tuesday that the 85 near-miss incidents at Reagan Washington National Airport since 2021 were unacceptable. On January 29, a Black Hawk helicopter collided with an American Airlines regional …
King Risk Partners Enters New York With Acquisition of Cameron Group
Florida-based insurance brokerage King Risk Partners announced it has acquired Cameron Group, Inc., an independent insurance agency located in Nanuet, New York. Cameron Group serves New York, New Jersey, and Connecticut with personal and commercial insurance. The Cameron acquisition is …
Insurers Must Pay Up for Jets Seized by Russia, UK Judge Rules
Insurance companies must compensate aircraft lessors and owners for planes that Russia seized when it took counter-sanction measures after the invasion of Ukraine, a UK judge ruled potentially leaving insurers on the hook for billions in payouts. The verdict comes …
Millions of Eggs Recalled After Dozens Sickened With Salmonella
The US Food and Drug Administration said more than 20 million eggs have been recalled after 21 people were hospitalized with salmonella. The eggs, distributed by the August Egg Company, were sold to retailers including Walmart Inc. and Safeway Stores …
Apollo to Tap Rich, Retail Clients in Asia for Asset Growth
Apollo Global Management Inc. said high-net-worth clients and access to retail investors are the biggest opportunities in Asia for growth in the coming years. Australia’s superannuation system, which will be the world’s second-largest pension by 2030, and Japanese savers that …
Markets/Coverages: MGA Aurora Launches Lloyd’s-Backed Property Insurance Offering
Aurora, the London-based digital managing general agent, has launched a property owners insurance product, aiming to enhance the way brokers access and place property risks. The new product, backed by Lloyd’s, leverages Aurora’s digital insurance platform and real-time data enrichment …