INSURANCE NEWS
Clearcover Expands Non-Standard Auto Coverage to Texas
Digital car insurer Clearcover announced the launch of Clearcover General Agency to serve the non-standard auto insurance market in Texas. Policies will be underwritten by Old American County Mutual Fire Insurance Company, bringing Clearcover’s digital-first insurance solutions to more drivers. …
Berkshire Shareholder Seeks Committee to Oversee AI at Buffett’s Company
A Berkshire Hathaway shareholder wants a committee of independent directors to oversee risks associated with artificial intelligence at the dozens of companies in Warren Buffett’s conglomerate. Tulipshare, an activist investor group based in London, said on Tuesday it submitted a …
Tibet Earthquake Kills at Least 126 People, Leaves Many Trapped
A strong earthquake shook a high-altitude region of western China and areas of Nepal on Tuesday, damaging hundreds of houses, littering streets with rubble and killing at least 126 people in Tibet. Many others were trapped as dozens of aftershocks …
People Moves: The Piexus Group Names Fawcett as President
The Plexus Groupe, a national commercial insurance brokerage and consulting firm, announced the appointment of Gerald Fawcett as President. Fawcett joined Plexus in February 2020 to lead the Industry and Specialty Practices. He was involved in vetting technology solutions and …
DOJ: Oklahoma City Police Discriminate Against People With Behavioral Disabilities
Oklahoma City and its police department have discriminated against people with behavioral health disabilities, the U.S. Department of Justice said last week after releasing the latest in a series of investigations into state and local law enforcement agencies. In its …
Settlements Eclipse $40 Billion in 2024 as PFAS, Reverse Discrimination Claims Emerge
Once again, settlements from class-action litigation topped $40 billion in 2024, according to an extensive analysis of more than 1,400 cases by law firm Duane Morris. Gerald L. Maatman, partner at the firm and co-author of its 650-page report, said …
Injured While ‘Simply Walking’ Not Covered by Workers’ Compensation
Not all accidents are compensable merely because they happen at work, the Virginia Workers’ Compensation Commission (WCC) reminded in denying workers’ compensation benefits to a school bus driver for an injury that happened while he was simply walking from his …
ALKEME Conjures Another Acquisition with Georgia’s Professional Benefits Consultants
California-headquartered ALKEME, ranked as one of largest U.S. insurance brokerages, has continued its growth spurt with the recent acquisition of Professional Benefits Consultants, based in Canton, Georgia. The move underscores ALKEME’s expansion in the Southeast and the growth of its …
Alabama Now Requiring Quarterly Reports From Surplus Lines Brokers
Starting this spring, surplus lines brokers in Alabama must file quarterly reports showing all surplus lines transactions, the state Department of Insurance said this week. The rule is in keeping with state law and took effect Jan. 1. The quarterly …
Lloyd’s CEO Neal Appointed Aon CEO of Reinsurance, Chairman of Climate Solutions
Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance and chairman of Climate Solutions, effective following the conclusion of Neal’s notice period at Lloyd’s of London where he has served as CEO since October …
Thousands Flee From Uncontrolled Wildfires Burning Near Los Angeles
Millions of people in California face at least two more days of dry, hot winds that have fanned fires across Los Angeles County and sent residents fleeing for their lives. Hurricane-force wind gusts of as much as 86 miles (138 …
Deep Vector Closes $1.5M Round Co-Led by Aperture and InsurTech NY
Deep Vector, an artificial intelligence (AI) platform for analyzing underwriting documents, closed its seed round of $1.5 million, co-led by Aperture Venture Capital and InsurTech NY. Deep Vector helps insurers and brokers translate analog documents used for underwriting risk—claims loss …