INSURANCE NEWS
Lawsuit Says Florida Aviation Firm Didn’t Verify Inspections of Troubled Learjet
A British aviation firm contends in a lawsuit that a Florida aircraft management company failed to properly inspect a Learjet, botched repairs to landing gear – which allegedly caused a tire blowout on landing – then failed to verify inspection …
California Security Company Owner Sentenced in $3.4M Workers’ Comp Fraud Case
The owner of a San Jose-based security company was sentenced after a California Department of Insurance investigation reportedly uncovered a multiyear scheme to underreport payroll and avoid paying workers’ compensation insurance premiums. Raul Chavez, 40, pleaded guilty to felony premium …
State Farm Still Wants a 30% Rate Increase in California
State Farm isn’t done seeking a rate increase in California, upping its request a week after getting the OK for a large rate hike to what the company had originally wanted before being rejected and agreeing to an interim deal …
Shortage of Overnight Truck Parking Blamed for 2023 Fatal Greyhound Bus Crash in Illinois
Overnight parking for long-haul truckers at interstate rest stops is critically short and was a key contributor to a 2023 Greyhound bus crash in Illinois that killed three people, federal regulators said Tuesday. The National Transportation Safety Board said driver …
Austin, Texas Bar to Pay $42K Over Pregnancy Discrimination Lawsuit
Corner Bar, which operates on South Lamar Boulevard in Austin, Texas, will pay $42,000 and provide other equitable relief to settle a pregnancy discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The lawsuit …
First MainStreet Adds 2 Midwest Agencies
First MainStreet Insurance (FMSI), a division of TrueNorth Companies, announced the continued expansion of its platform with two new strategic partnerships and a notable merger, marking a dynamic start to 2025. Effective May 1, 2025, FMSI has partnered with Rentz …
People Moves: CIS Promotes Gardea, Jr., Adds Felder to Leadership Team
Construction insurance Services (CIS), an MGA/MGU based in Dallas focused on the construction industry in all 50 states, announced a promotion and addition to its leadership team. CIS is a subsidiary of the Curley Financial Group based in Dallas. Hector …
EU to Propose Removing Business Barriers to Enhance Competitiveness Amid US Tariffs
The European Commission set out plans on Wednesday to remove barriers to business within the European Union as part of a push to boost competitiveness and counteract the impact of U.S. tariffs. The International Monetary Fund has estimated that internal …
Former Progressive CEO Renwick, 69, Dies
The Progressive Corp. published a statement that the company mourned the loss of its former chief executive officer and chairman, Glenn Renwick. According to the statement, Renwick passed away on Friday, May 16 at the age of 69. “Glenn’s contributions …
Hack of Contractor Was at Root of Massive Federal Data Breach
A software company that handles sensitive data for nearly every US federal agency was the victim of a cyber breach earlier this year due to a “major lapse” in security measures, according to documents reviewed by Bloomberg News. Opexus, which …
Acrisure Secures $2.1 Billion Funding Round for M&A, Tech
Acrisure said it has entered into a definitive agreement for the issuance of new convertible senior preferred stock in a $2.1 billion capital raise led by Bain Capital. Acrisure said the company’s valuation stands at $32 billion—a nearly 40% increase …
People Moves: World Insurance Associates Names Youshock Head of Personal Lines; Belair Appointed President of Technology at Intact Insurance Specialty Solutions
World Insurance Associates Names Youshock Head of Personal Lines World Insurance Associates LLC, headquartered in Iselin, New Jersey, named Michelle Youshock head of personal lines, replacing Jim Hickey, who is taking over carrier consolidation efforts. Youshock, based in Las Vegas, …