INSURANCE NEWS
Hub Acquires Louisiana’s Demarie Insurance
Hub International Limited announced that it has acquired the assets of FGLP Equity Partners, LLC dba Demarie Insurance Agency (Demarie Insurance). Terms of the transaction were not disclosed. Located in Lake Charles, Louisiana, Demarie Insurance is a full-service insurance agency …
UnitedHealth Sued by Shareholders Over Reaction to Backlash From Executive’s Killing
UnitedHealth Group was sued on Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook. In a proposed class action filed …
Chairman of South Korea’s SK Group Apologizes for Massive Data Leak at SK Telecom
SK Group Chairman Chey Tae-won apologized on Wednesday for a massive data leak at South Korea’s largest mobile carrier, SK Telecom, which has caused concern among its 23 million users over the possible theft of personal and financial information. The …
UK Cyber Security Chief Names China as Dominant Hacking Threat
The UK has named China as the dominant threat to national cybersecurity after a series of hacks and breaches involving British government departments and critical infrastructure. “China remains the pacing threat in the cyber realm,” Richard Horne, the chief of …
EU to Propose More Sanctions on Russia’s ‘Shadow’ Oil Tankers
The European Union’s executive arm is set to propose a new package of sanctions targeting Moscow’s covert fleet of oil tankers as it seek to crank up pressure on Russia over its war against Ukraine. The sanctions suggested by the …
Viewpoint: Challenging P/C Market Generates Opportunities for Surplus Lines’ Writers
The U.S. surplus lines market notched double-digit year-over-year (YoY) premium growth from 2018-2023, as wholesale brokers tapped this market with greater frequency to explore coverage solutions for businesses amid expanding risks. The magnitude of the YoY growth peaked at 30% …
Colorado Committee Kills Homeowners Insurance Bill to Control Costs Through 1% Charge
A Colorado bill to impose a 1% charge on homeowners insurance policies died in a committee in state Legislature this week. The Senate Finance Committee voted 6-2 to kill House Bill 1302, which was pushed by Gov. Jared Polis and …
NTSB Says a Utility Wasn’t Marked Before a Deadly Natural Gas Explosion in Missouri
A deadly explosion that leveled one Missouri home and damaged two others happened after a subcontractor drilled into an unmarked underground gas main while installing fiber optic cable, the National Transportation Safety Board announced Monday. One person was killed and …
Midwest Carbon Dioxide Pipeline Could Face More Hurdles
A proposed carbon-capture pipeline that would traverse through several Midwestern states could face more hurdles in Iowa as a dozen Republican state senators try to force the issue to a vote. Summit Carbon Solutions already will likely have to readjust …
American Airlines Sues Chicago Over O’Hare Gates for United
American Airlines Group Inc. sued the city of Chicago in a fight with rival United Airlines Holding Inc. over valuable gate space at O’Hare International Airport. The airport is a hub for both airlines, making it the only dual-hub airport …
Texas Bill Would Put Restraints on Businesses Wanting to Tap Into Energy Grid
exas will need a lot more energy in the future. Driven largely by demand from businesses such as data centers and the oil and gas industry, the Electric Reliability Council of Texas, the state’s grid operator, predicts the state’s energy …
South Carolina Lawmakers Reach Agreement on Liquor Liability Relief Bill
With just two days left in South Carolina’s 2025 legislative session, House and Senate negotiators appear to have reached a compromise on a plan to ease liquor liability costs for struggling bars and restaurants. House Bill 3430 does not provide …