INSURANCE NEWS
Authorities are Cleaning Up an Oil Spill in Southeast Louisiana
Federal authorities are seeking to contain and clean up the damage from a decades-old oil well in southeast Louisiana that spewed crude and natural gas for more than a week. Upwards of 79,000 gallons (299,047 liters) of “oily water mixture” …
Markets/Coverages: Chaucer Launches Standalone TPL Cover for AI Underperformance
Chaucer Group, the specialty re/insurance group, announced the launch of a standalone third-party liability (TPL) insurance product in collaboration with Armilla AI, the Toronto-based managing general agent that provides specialized insurance and risk management solutions for artificial intelligence. The TPL …
US Seeks Forced Sale of Google Ad Technology Products
Alphabet Inc.’s Google should be forced to sell off two of its businesses that help websites buy, sell and serve online advertising after a judge found the company illegally monopolized those markets, the Justice Department said. The company should be …
Delta Must Face Passenger Lawsuit Over Massive CrowdStrike Computer Outage
Delta Air Lines must face a proposed class action by passengers who said it refused to offer full refunds after delaying or canceling their flights following a massive computer outage last July, a federal judge ruled on Tuesday. U.S. District …
Berkshire Shareholders Reject Diversity, AI Proposals
Berkshire Hathaway shareholders on May 3 rejected a resolution requiring the company to report on risks from its subsidiaries’ race-based initiatives, one of seven proposals tied to diversity, artificial intelligence and other issues that were voted down. Shareholders also voted …
Business Moves: Gallagher Acquires Turkish Re/Insurance Broker Aspera
Gallagher announced it has acquired Turkey-based Aspera Sigorta ve Reasürans Brokerliği A.Ş. (Aspera). Terms of the transaction were not disclosed. Established in 2022, Aspera is a boutique insurance and reinsurance broker specializing in industrial property, power & energy, plus construction. …
Copper Cable Theft in Spain Delays Thousands of High-Speed Rail Passengers
Thousands of rail passengers in Spain were hit with delays after copper cables used in the signaling system of a high-speed line traveling south from Madrid to Seville were stolen at five locations, authorities said Monday. The theft, which happened …
World Insurance Acquires Upstate New York Agencies
Insurance broker World Insurance Associates LLC has acquired the business of Christopher Williams Agency and Barrett Millard LLC of Pittsford, New York. The Christopher Williams Agency began in 1961, and it purchased Barrett Millard in 2023. The agencies sell personal …
New Louisiana Law Mandates Discount Disclosures for Insurance Companies
Louisiana Insurance Commissioner Tim Temple sent out an announcement this week to all property and casualty insurance companies notifying of a statue that requires insurers to disclose all available discounts that could lead to reduced premiums for current or prospective …
Benefit Advisors Network Adds Texas’ Carroll Insurance as New Member
Benefit Advisors Network (BAN), an international network of progressive and visionary employee benefit brokers and consulting firms from across the United States and Canada, announced Houston, Texas-based Carroll Insurance has been accepted for membership into the organization. Serving a diverse …
Rivian Deepens Illinois Ties With $120 Million EV Supplier Park
Rivian Automotive Inc. is investing $120 million in a new supplier park in Illinois, another win for Governor JB Pritzker after the company announced a $1.5 billion plan to expand its plant in the state. The 1.2 million-square-foot park in …
People Moves: Encova Insurance Names Lingala EVP and CIO
Encova Insurance, headquartered in Columbus, Ohio, hired Ramu Lingala as the successor to Tony Laska, executive vice president and chief information officer. Laska announced his plans for retirement at the end of 2025 last year. Lingala joined Encova in February. …