INSURANCE NEWS
Survivors’ Lawyers Allege Decades of Systemic Abuse in Illinois Detention Facilities
Illinois has one of the nation’s worst problems with child sex abuse at juvenile detention centers, attorneys representing more than 900 survivors who have filed lawsuits said Wednesday. Dozens of complaints, including several filed this week in Chicago, allege decades …
Cayman Islands Approves 21 New International Insurance Licenses During H1
The Cayman Islands Monetary Authority (CIMA), which represents the international insurance industry in the British overseas territory, reported that licenses have been approved for 21 new international insurers during the first half of this year. Between April and June, CIMA …
Neptune Adds Capacity to Bring Flood Insurance Product Nationwide
Flood insurer Neptune Flood said recently it secured over $400 million in premium capacity and has launched in Alaska to officially become available in all 50 states. Neptune said its capacity panel now includes more than 30 insurance and reinsurance …
Former Tennessee Agent Sentenced For Continuing to Sell Insurance Products
A former Tennessee insurance agent who lost his license in 1999 but continued to sell insurance products has been sentenced to 10 years in prison. Most of that jail time was suspended by a judge. Johnny Ray Jackson, 55, of …
People Moves: Aon Appoints Key Leaders in EMEA Commercial Risk Team; AXA XL Promotes Wilkinson to Head of International Casualty, Retail, UK & Lloyd’s
This edition of International People Moves details appointments at Aon and AXA XL. A summary of these new hires follows here. Aon Appoints Key Leaders in EMEA Commercial Risk Team Insurance broker Aon plc announced several key leadership appointments within …
Trump Nominates Two Lawyers to Seal Republican Control of US Labor Board
President Donald Trump has moved to install a Republican majority at the federal board that hears private-sector labor disputes and oversees union elections, which has been paralyzed by his unprecedented firing of a Democratic member. The White House sent the …
King Risk Adds Equestrian Specialist Agency in South Carolina
King Risk Partners, a national insurance brokerage with home offices in Gainesville, Florida, has acquired Cummings Insurance Agency in Aiken, South Carolina. Cummings, founded in 2014, has specialized in agricultural and equestrian clients, the companies said in a news release. …
Alaska Tsunami Warning Had Residents Scrambling for High Ground After M7.3 Quake
Communities along a 700-mile stretch of Alaska’s southern coast ordered residents to higher ground after a powerful offshore earthquake Wednesday, but officials quickly downgraded and then canceled a tsunami warning for the region. There were no reports of significant damage. …
AI Models With Systemic Risks Given Pointers on How to Comply With EU AI Rules
The European Commission set out guidelines on Friday to help AI models it has determined have systemic risks and face tougher obligations to mitigate potential threats comply with European Union artificial intelligence regulation (AI Act). The move aims to counter …
Jury Awards $100M in Shooting Death of Former Florida State Senator’s Son
A Miami jury this week awarded a former Florida state senator $100 million in a wrongful death lawsuit brought against the condominium complex where her son was shot to death in 2021. Daphne Campbell, who served for eight years in …
Lightning Strike at New Jersey Archery Range Kills 1, Injures 13
A lightning strike at an archery range in Jackson, New Jersey killed a man and injured 13 others Wednesday evening, according to police. Around 7:15 p.m., police were notified that multiple people were struck by lightning at the Black Knight …
EU’s New Russia Sanctions Aim for More Effective Oil Price Cap
The European Union on Friday agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry. The EU will set a moving price cap …