INSURANCE NEWS

Tropical Disturbance Expected to Bring Flash Flooding to Louisiana

A tropical disturbance is expected to make landfall near the northern Gulf Coast Thursday afternoon, creating flash flooding conditions for parts of south-central Louisiana. A moderate risk of excessive rainfall is in place along the south-central Gulf Coast of Louisiana, …
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Travelers Q2 Net Income Soars on Less Losses, Favorable Reserves

The Travelers Cos. increased second quarter net income $975 million for a total of about $1.5 billion, and reversed an underwriting loss posted last year for the same period. Travelers’ second quarter underwriting profit was about $1 billion compared to …
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Oklahoma Farmer Killed in Water Buffalo Attack, Police Say

A farmer in a rural suburb outside of Oklahoma City was fatally attacked by a pair of water buffaloes he purchased at a livestock auction a day earlier, police said. Bradley McMichael, a farmer in the small town of Jones …
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Air India Junior Pilot Asked Captain Why He Turned Off Fuel Switches

A cockpit voice recording of doomed Air India Flight 171 indicates the younger co-pilot asked his more experienced colleague why he turned off the plane’s fuel-supply switches, according to people familiar with the matter. The information, from people who asked …
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People Moves: Hotchkiss Adds Three Partners

Hotchkiss Insurance, headquartered in Dallas, Texas, recently added three new partners: Riley Dearing, Jessica Goehring and Heather Etheredge. Dearing leads the West Texas region for the Hotchkiss Benefits Division. He gained experience across multiple industries before founding InCore Group, which …
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Camp Mystic Leader May Not Have Seen Alert Before Flood, Family Spokesman Says

The leader of Camp Mystic had been tracking the weather before the deadly Texas floods, but it is now unclear whether he saw an urgent warning from the National Weather Service that had triggered an emergency alert to phones in …
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How Hot Can It Get? Scientists Are Struggling to Find an Answer

How hot can a heat wave really get? Before June 2021, scientists thought they knew. That’s when one of the most extreme heat spikes ever observed hit western North America, leaving at least 1,400 people dead. Lytton, British Columbia, smashed …
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People Moves: Guy Carpenter Promotes Hakes as Global Head of Marine, Energy, and Technical Lines; Moody’s Names Aquino as Global Co-Head of Insurance

This edition of International People Moves details appointments at Guy Carpenter and Moody’s Ratings. A summary of these new hires follows here. Guy Carpenter Promotes Hakes as Global Head of Marine, Energy, and Technical Lines Guy Carpenter, the reinsurance brokerage …
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Insurance Supervisors’ Group Seeks Collaboration to Cover Disaster Losses

Collaboration between the public and private sectors, beyond just insurance, is essential to narrowing the so-called protection gap, as losses from natural disasters increase, said the head of a global insurance supervisors’ organization. The protection gap refers to the difference …
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Trade Credit Specialist Coface Gets Nod From Lloyd’s to Launch Syndicate

Coface, the Paris-based trade credit risk management specialist, announced it has received an “in principle approval” from Lloyd’s to launch a short-term trade credit syndicate. The syndicate – Coface Lloyd’s Syndicate 2546 – is expected to commence underwriting in 2025 …
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Trump Administration Sued by States for Cutting Disaster Prevention Grants

A group of 20 mostly Democrat-led U.S. states filed a lawsuit on Wednesday seeking to block the Trump administration from terminating a multibillion-dollar grant program that funds infrastructure upgrades to protect against natural disasters. The lawsuit filed in Boston federal …
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People Moves: Society Insurance Names Felton to Board of Directors

Society Insurance, headquartered in Fond du Lac, Wisconsin, elected Chris Felton of Burlington, Wisconsin, as a director Felton is president and chief executive officer of Corporate Central Credit Union, leading strategy, innovation and operations. In addition to Felton, Society’s board …
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