INSURANCE NEWS
Man Is Charged With Truck Arson While Out on Bail on Other Arson Charge
A Maine man out on bail for an April 2024 arson charge has been charged with a new arson incident. According to officials, on the evening of January 5, the Maine State Fire Marshal (FMO) assisted with an investigation of …
McDonald’s Retires Some Diversity Goals in Latest Corporate Retreat
McDonald’s Corp. is revamping its approach to diversity, equity and inclusion, becoming the latest large company to change its strategy as the once-ubiquitous goals come under pressure from conservative advocates. The company will no longer set “aspirational representation goals” and …
California Winds Drive Severe Fire Danger in Rain-Starved LA
Exceptionally powerful, dry winds expected across Southern California this week are set to send wildfire risk skyrocketing in a region that’s endured more than eight months without significant rain. Forecasters predict the strongest Santa Ana wind event of the season …
People Moves: XS Brokers Promotes Buccinna in New York; Leadership Changes at Falvey Insurance
XS Brokers Promotes Buccinna to Regional Leader of New York XS Brokers, headquartered in Quincy, Massachusetts, promoted Peter Buccinna to vice president and regional leader of New York. Buccinna has over 26 years of industry experience and joined XS Brokers …
Denver Group Lands NWSL Team for $110M Expansion Fee, Owners Include IMA and Parsyl Execs
The NWSL’s 16th team is headed to Denver for a record $110 million expansion fee, Sportico.com reported. It’s more than double the previous NWSL record for new teams and the largest expansion fee ever in U.S. women’s sports. Groups from …
People Moves: AXIS Taps Chubb’s Farrup to Lead Global Mkts, Succeeding Gregory; Agile’s Lloyd’s Syndicate Hires AXA XL’s Hughes for London Marine Operation
This edition of International People Moves details appointments at AXIS Capital Holdings and Agile Insurance Group. A summary of these new hires follows here. AXIS Appoints Chubb’s Farrup as Head of Global Markets, Succeeding Gregory AXIS Capital Holdings Ltd. announced …
CFPB Sues Walmart, Scheduling Platform for Alleged Illegal Pay Practices for Gig Drivers
The Consumer Financial Protection Bureau has sued Walmart and work scheduling platform Branch Messenger for allegedly forcing delivery drivers that are part of the discounter’s gig program to use costly deposit accounts to get paid and mispresented how they could …
Drivers Skid and Crash as Wintry Mix Blasts Central US
Road conditions were deteriorating over the weekend in the central U.S. as a winter storm brought a mix of snow, ice and plunging temperatures, with forecasts calling for the dreaded combo to spread eastward in the coming days. “Winter returned,” …
Relation Acquires Illinois’ Forest
Relation Insurance Services acquired the assets of Forest Insurance Agency. The transaction went into effect on December 1, 2024; terms of the transaction were not disclosed. Specializing in personal and business insurance, Forest is based in Forest Park, Illinois. The …
AM Best: Increasing Political, Terror Risk Could Lead to More Demand for Coverage
Authorities have said there is no evidence that the truck attack in New Orleans on New Year’s Day was directed by the Islamic State but the incident – as well as the same-day truck explosion outside a hotel in Las …
Fire in Dallas Shopping Center Kills Hundreds of Animals
DALLAS (AP) — A fire that broke out at a shopping center in Dallas on Friday morning killed more than 500 animals, most of which were small birds, authorities said. The 579 animals in the pet shop at Plaza Latina …
Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter
Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the cost of reinsurance based on premium as …