INSURANCE NEWS
Exxon Sues California AG, Environmental Groups Over ‘Smear’
Exxon Mobil Corp. filed a lawsuit alleging that California Attorney General Rob Bonta and several environmental groups made defamatory comments about the oil company’s ability to recycle plastic. Exxon accused Bonta, the Sierra Group and others of making “false accusations” …
Winter Storm Brings Heaviest Snowfall in a Decade to Central U.S.
A blast of snow, ice, wind and plunging temperatures stirred up dangerous travel conditions in parts of the central U.S as a disruptive winter storm brought the possibility of the heaviest snowfall in a decade to some areas. Snow and …
Texas Snow Threatens to Unleash Blackouts and Travel Chaos
A winter storm is poised to pummel Texas and the US South later this week, putting the region at risk of blackouts and travel mayhem. About 4 to 6 inches (10 to 15 centimeters) of snow and ice will fall …
Musk’s Massive Tesla Lithium Plant Hunts for Water in Drought-Hit Texas
Twenty miles outside Corpus Christi, Texas — an area so dry the local water company distributes shower timers at high school football games — the world’s richest man is nearly done building a lithium refinery that could require as much …
AM Best Removes Negative Implications on Oklahoma’s Sutton National
AM Best has removed under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sutton Specialty Insurance Company (SSIC) and Sutton National Insurance Company (SNIC), which …
After Nautilus Insurance Wins Civil Suit vs. Murdaugh, Trial Starts for His Conspirator
Just days after convicted murderer Alex Murdaugh was ordered to pay almost $15 million to Nautilus Insurance Co., his friend and co-conspirator is set to start trial in a civil suit brought by Nautilus for his role in the alleged …
People Moves: World Insurance Associates Names Miller EVP, National Accounts
World Insurance Associates LLC, headquartered in Iselin, New Jersey, named Adam Miller as its executive vice president, national accounts. Miller, who is based in Chicago, has nearly 20 years of experience in the insurance industry, specializing in strategic leadership and …
Business Moves: Aon, Guy Carpenter, WTW Each Complete Previously Announced M&As
Insurance brokers Aon plc, Guy Carpenter and WTW announced they each have completed previously announced mergers and acquisitions. Aon’s acquisition of Griffiths & Armour, which was first announced in November 2024, officially completed on Jan. 1, 2025. Aon said the …
Core Specialty to Purchase London Aviation Underwriters
Core Specialty Insurance Holdings Inc. and its subsidiaries have agreed to purchase London Aviation Underwriters Inc. (LAU), in a stock and cash transaction. Financial details of the deal, which is expected to close early in 2025, were not disclosed. Upon …
1 Killed in Large Avalanche in Western Wyoming
An avalanche killed one skier and injured another after the group they were in triggered the large snowslide while ascending a mountain in western Wyoming. The avalanche happened Saturday in a backcountry area about 20 miles east of Grand Teton …
Viewpoint: Innovation Enhances Brokers’ Growth and Profits
Boosting growth and profitability is a goal for all U.S. insurance agents and brokers, but until recently that has been easier to assert than to achieve consistently. Booking organic growth is difficult, even for firms with strong sales cultures, and …
Ryan Specialty to Acquire Nashville-Based Velocity Risk Underwriters MGU
Ryan Specialty, a specialty insurance services firm and trading partner for agents and brokers, plans to acquire Nashville-based Velocity Risk Underwriters, with a closing date early this year. Velocity Risk, providing coverage for catastrophe-exposed properties, is a managing general underwriter …