INSURANCE NEWS
CannGen Launches Workers’ Comp Program Through Crum & Forester
CannGen Insurance Services LLC is now offering workers’ compensation coverage for the legal cannabis industry through specialty insurance provider Crum & Forster. The program is available in all 50 states. CannGen policyholders can access C&F Connect, an online portal designed …
Canadian Man Sentenced for Shootings That Damaged Pipeline and Power Station in Dakotas
A Canadian man has been sentenced to 25 years in federal prison for shootings at an oil pipeline in South Dakota and an electrical substation in North Dakota that caused $1.7 million in damages after a judge found that his …
Four Charged in Death of 5-Year-Old Michigan Boy in Oxygen Chamber Explosion
Four people have been charged in the death of a 5-year-old boy who was “incinerated” inside a pressurized oxygen chamber that exploded at a suburban Detroit medical facility, Michigan’s attorney general said Tuesday. Thomas Cooper from Royal Oak, Michigan, was …
Texas Stock Exchange Hires Nasdaq, Cboe Executives for ETP Push
An upstart stock exchange based in Texas has poached top talent from its big-name rivals as it prepares its push into the $11 trillion exchange-traded fund world. Cboe Global Market’s former head of exchange-traded products listings Robert Marrocco will join …
AM Best Places Michigan’s Wolverine Mutual Under Review With Positive Implications
AM Best has placed under review with positive implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b” (Marginal) of Wolverine Mutual Insurance Company (Wolverine) based in Dowagiac, Michigan. The Credit Ratings …
Explosion in Manhole at Texas Tech University Prompts Campus Evacuations
Several buildings at Texas Tech University in Lubbock were evacuated Wednesday night after officials said an explosion in a manhole near a substation caused multiple fires that could be seen emerging from underground across parts of the campus and widespread …
ACORD Solutions Group Launches ADEPT Bermuda Regional Hub for Digital Messaging
ACORD Solutions Group, a provider of digital solutions for the global insurance industry, announced the launch of the ADEPT Bermuda Regional Hub. As part of the data exchange hub’s launch, ACORD Solutions Group will give away one million free digital …
North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits
The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …
She Took Out 40 Insurance Policies Worth $20 Million, Scamming Insurers and Investors
A federal jury convicted a Maryland woman yesterday for conspiracy to commit insurance fraud, and related charges for wire fraud, money laundering and filing false tax returns. According to court documents, Maureen Wilson, of Owings Mills, conspired with her husband …
Ardonagh Advisory Acquires UK Broker Anderson & Co.
Ardonagh Advisory, the Ardonagh Group’s SME broking platform, announced it has acquired Anderson & Co. (Holdings) Ltd., along with its wholly owned subsidiary Anderson & Co (Insurance Brokers) Ltd. (ACIB). Financial details of the transaction were not disclosed. Established over …
Man Torches Tesla Chargers in South Carolina But Catches His Clothes on Fire
NORTH CHARLESTON, S.C. (AP) — A man burned three Tesla chargers in a South Carolina parking lot and also apparently inadvertently set his clothes on fire, police said. The man spray-painted “long live the Ukraine” and a crude reference to …
Heritage Insurance Profits Down for Q4 But Up 36% for 2024
TAMPA, Fla. (AP) — Heritage Insurance Holdings Inc. (HRTG) on Tuesday reported net income of $20.3 million in its fourth quarter, a 34% drop from Q4 in 2023. The Tampa-based company said it had net income of 66 cents per …