INSURANCE NEWS
People Moves: EPIC Adds Frechmann, Mayfield and Snitzer in Midwest Region
EPIC Insurance Brokers & Consultants announced an expansion of its expertise in specialized areas with the addition of three new professionals in the Midwest. Rick Frechmann, Joleen Mayfield, and Bradley Snitzer bring decades of experience in employee benefits consulting and …
UnitedHealth Executive Fatally Shot in NYC on Investor Day
Brian Thompson, a longtime UnitedHealth Group Inc. executive, was fatally shot in midtown Manhattan early Wednesday morning, the New York Police Department said. Thompson, 50, was shot in the chest before 7 a.m. outside the New York Hilton Midtown, where …
Alaska Airlines Tech Issue Briefly Grounded Planes in Seattle, Disrupted Bookings on Cyber Monday
A technology issue at Alaska Airlines resulted in the temporary grounding of flights in Seattle on Monday morning and problems into the afternoon for people trying to book flights on its website, the airline said. The Seattle-based company said in …
AM Best: US P/C Reverses Nine-Month Underwriting Loss
Growth in net earned premiums outpaced a slight increase in losses and loss adjustment expenses to result in the U.S. property/casualty industry posting a nine-month 2024 underwriting profit of $4.1 billion versus a loss of $32.1 billion last year. According …
Agents Charged in $250 Million Off-Shore Insurance Scheme
Manhattan District Attorney Alvin Bragg, Jr. announced the indictment of officers of Inter-Insurance Agency Services Ltd. and the firm for their roles in an eight-year scheme in which they allegedly provided more than $250 million in coverage to clients while …
Pemex Vowed No More Fatalities. At Least Six Workers Have Died Since.
Mexico’s state-run oil company, facing heightened scrutiny over a string of deadly accidents at its facilities, set an ambitious goal early this year: No more fatalities. Just weeks after announcing that target, an explosion at a Petroleos Mexicanos oil platform …
Mattel Sued Over ‘Wicked’ Dolls With Porn Website Link
Mattel was sued on Tuesday by a South Carolina mother for mistakenly putting a link to a pornographic website on packaging for dolls tied to the blockbuster movie “Wicked.” In a proposed class action filed in federal court in Los …
Insurer Fortegra Launches Subsidiary in UK
The Fortegra Group Inc., the Jacksonville, Florida-based specialty insurer and subsidiary of Tiptree Inc., announced it has received regulatory approval to launch a UK subsidiary, called Fortegra Insurance Company UK. The Prudential Regulation Authority (PRA) granted Fortegra UK the license, …
Viewpoint: Artificial Intelligence Faces New Era of Regulatory Oversight
Executive Summary: With over 70% of insurers planning to deploy gen-AI tools over the next two years, AI promises much, and the keen adopters likely will be rewarded – but it’s a path that must be navigated carefully, keeping a …
Inigo Owners Said to Weigh Options for Lloyd’s of London Insurer
The owners of Inigo Ltd. are exploring options for the British specialist insurance group including a potential sale, according to people familiar with the matter. The shareholders, which include buyout firm JC Flowers & Co. and Qatar Investment Authority, are …
US Official Fighting Chinese Telecom Intrusions Urges More Encryption
A senior U.S. official who is among those working to evict alleged Chinese hackers from American telecom companies has a word of advice for his fellow Americans: Use encryption. During a call with reporters on Tuesday, Cybersecurity and Infrastructure Security …
FTC Hits Pair of Data Brokers for Unlawfully Tracking and Selling Consumer Data
The Federal Trade Commission said it has issued an order prohibiting data brokers Mobilewalla and Gravy Analytics from selling consumer data without consent—including location information related to visits to healthcare facilities, places of worship, and participation in protests. According to …