INSURANCE NEWS
People Moves: Rothwell Joins Cowbell in California as Controller
Vivien Rothwell joined Cowbell as controller. Rothwell has more than 20 years of experience in corporate finance and accounting, working across the real estate, insurance, and FinTech sectors. Rothwell began her career at Deloitte & Touche LLP in their California …
Illinois Chemical Manufacturer Reaches $400K Settlement With EPA
The U.S. Environmental Protection Agency announced a settlement for alleged violations of the Clean Air Act with Nalco Production LLC and Nalco Co. LLC. The companies manufacture polymer blend chemicals at their facility at 6216 W. 66th Place in Chicago, …
Patriot Growth Partners With Texas’ Ladd Gardner Aviation Insurance
Patriot Growth Insurance Services announce its partnership with Ladd Gardner Aviation Insurance (LGA), an aviation insurance agency based in Addison, Texas. Founded in 2007 by aviation enthusiast and industry veteran, Ladd Gardner, the agency brings deep expertise, a client-centric approach, …
Texas Legislators Seek Solutions to Rising Home Insurance Rates
Texas lawmakers hope to rein in homeowners’ rising insurance bills even as they acknowledge there’s only so much they can do to tackle costs. Legislators have advanced bills to limit how much insurance companies can hike rates and help homeowners …
People Moves: SiriusPoint Promotes Fenn to Global Head of Marine; Arch Insurance International Promotes Mansouri to UK PI Underwriting Manager
SiriusPoint Promotes Fenn to Global Head of Marine SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the promotion of Chris Fenn to global head of Marine, in addition to two strategic appointments to strengthen its global marine offering. Previously …
Business Moves: Clear Group’s Shape Underwriting Acquires HNW Specialist Protect Underwriting; Optio Buys UK PI Specialist MGA, Custodian Management
Clear Group’s Shape Underwriting Acquires HNW Specialist Protect Underwriting Shape Underwriting, the London-headquartered managing general agent, has acquired Protect Underwriting LLP, a specialist MGA in private client high-net-worth business. Financial details of the deal were not disclosed. This transaction marks …
Minnesota YMCA to Pay $140K to Settle Sexual Harassment Lawsuit
The St. Cloud Area Family YMCA will pay $140,000 and provide other relief to settle a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced this week. The EEOC charged in its suit …
Abu Dhabi’s IHC, BlackRock Start $1 Billion Reinsurance Firm
International Holding Co., Abu Dhabi’s largest listed company that’s overseen by a key member of the emirate’s royal family, is setting up a $1 billion reinsurance venture with BlackRock Inc. The yet-to-be-named firm will launch with more than $1 billion …
20 Charged in Alleged Theft of 126 Cars Worth $4.6 Million in NYC and Suburbs
New York law enforcement officials reported that 20 men and women have been indicted and charged with participating in a scheme to steal cars throughout New York City and its suburbs. The vehicles — which officials said were valued at …
New Mexico Utilities Tell Residents to Prepare for Outages When High Fire Risk is High
Electric providers in New Mexico told the state’s utility regulator at citizens at a hearing on Thursday in Santa Fe that residents should be prepared to potentially lose power when high winds and dry conditions raise wildfire risk in their …
Why Trump’s Plan to Stop Tallying Weather Losses Matters to the Insurance Industry
Extreme weather is an increasingly expensive problem in the US. Last year, fires, droughts and storms caused more than $182 billion in damages — but going forward, the federal government won’t be keeping track. The National Oceanic and Atmospheric Administration, …
FTX Lawsuit Against Tom Brady, Stephen Curry, Others Is Narrowed
A federal judge narrowed but stopped short of dismissing a lawsuit by investors seeking to hold celebrities like sports stars Tom Brady, Stephen Curry and Shohei Ohtani liable for promoting the collapsed cryptocurrency exchange FTX. The investors said the defendants …