INSURANCE NEWS
Marsh McLennan Agency Acquires Iowa’s Accel Holdings
Marsh McLennan Agency announced that it has reached an agreement to acquire Accel Holdings, Inc., a leading diversified independent insurance and advisory firm headquartered in Waverly, Iowa. Terms of the acquisition, which is expected to close in the third quarter, …
Severe Thunderstorms Across US Midwest Trigger Flood Warnings
The US Midwest and Ohio Valley, including Chicago and Cincinnati, face an enhanced, or level 3, risk of severe thunderstorms. That’s triggered numerous flood warnings and watches from Indiana into western Pennsylvania and Virginia, the National Weather Service said. As …
Taylor Farms, Taco Bell Face Multiple Lawsuits Over Cyclospora Outbreak
Multiple proposed class-action lawsuits have been filed over the nationwide cyclospora outbreak, blaming Taco Bell and Taylor Farms for selling contaminated lettuce that has sickened thousands and led to two deaths. At least two of the lawsuits are in federal …
People Moves: Younts Named Chair of NC Industrial Commission
The North Carolina General Assembly last month confirmed workers’ compensation attorney and former Deputy Commissioner Tyler Younts to a six-year term on the state Industrial Commission. A few days later, the state’s commissioner of labor, Luke Farley, designated Younts to …
Renewal Changes for Most Commercial Lines Decrease in July and Q2, Says Ivans
Year over year, average U.S. commercial premium renewals for July increased in all lines except workers’ compensation, according to the Ivans Index. However, month over month, commercial auto, business owners policy, general liability, commercial property and umbrella saw a decrease, …
Kellington Returns to ACORD to Take CEO Role
John Kellington, most recently executive vice president and chief information officer at Cincinnati Insurance for more than 16 years, has been appointed chief executive officer of ACORD. Kellington is no stranger to the standards-setting body for the insurance industry. He …
People Moves: O’Connor Promoted to NA Head of Pro Liability, Cyber at AIG; Canopius Appoints Kuchinski US CUO
American International Group (AIG) said it has promoted Christopher O’Connor to the role of head of professional liability and cyber, North America. O’Connor has been with AIG for more than 15 years. He was most recently North America head of …
Houthi Attack on Small Cargo Ship in Red Sea Kills Three Crew Members, Sources Say
A small cargo ship was attacked by Yemen’s Iran-aligned Houthis in the Bab el-Mandeb strait on Tuesday, killing three crew members, said two Yemeni coast guard sources and two military officials in the government. If confirmed, the fatalities on the …
Typhoon Season Forecast to Be Among Most Intense Ever for Asia
The current typhoon season in the Northwest Pacific Ocean is shaping up to be one of the most intense on record as the El Niño system strengthens, according to the latest projection by commercial forecaster Tropical Storm Risk. Typhoon development …
‘Chronic’ Heat Risk in Europe Draws Warning From Swiss Re Unit
As Europe comes to grips with its fifth heat wave this year, the research arm of Swiss Re AG is warning of far-reaching consequences that may not yet be fully understood. Though Europe’s wildfire risk “is still considered moderate, the …
Oman Says Spill From Grounded Shadow Oil Tanker Covers 400 Square Kilometers
Leaking crude oil from a tanker grounded off a nature reserve in Oman has created a slick covering almost 400 square kilometers, the country’s government said on Monday. The Caroline Bezengi is loaded with close to one million barrels of …
E-Scooter Use Surging in Germany Thanks to Private Demand, Rather Than Rental Fleets
Growth in e-scooter use in Germany is powering ahead thanks to private demand rather than the rental fleets that first drove their popularity, as operators like Lime and Bolt grapple with increasingly unfavorable business conditions. Last year, more than 80% …