INSURANCE NEWS
Louisiana Gov. Landry Raises Concerns Over $3B Coastal Restoration Project
NEW ORLEANS (AP) — Louisiana Gov. Jeff Landry raised serious objections Thursday to a $3 billion project long hailed as key to restoring the state’s eroding coastline, decrying the growing cost and predicting dire harm to a coastal culture dependent …
Wisconsin Man Charged With Crop Insurance Fraud
A Wisconsin man has been charged with defrauding the Federal Crop Insurance Program, the U.S. Attorney’s Office for the Western District of Wisconsin announced. Lance G. Meier, 52, Ogema, is charged with defrauding the federal crop insurance program. The indictment …
Tank Containing Oil Drilling Byproducts Explodes Near GM Plant in Michigan
BRIGHTON Mich. (AP) — A tank containing byproducts from oil drilling operations exploded and caught fire Tuesday near the General Motors Proving Ground in southeastern Michigan, damaging two nearby homes but causing no injuries, a fire chief said. Fire crews …
AM Best Upgrades Credit Rating of Texas Mutual
AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a+” (Excellent) of Texas Mutual Insurance Company (Texas Mutual) based in Austin, Texas. The outlook of …
Patronis to Leave Florida CFO Job to Run for Gaetz’ Seat in Congress
Florida’s chief financial officer, Jimmy Patronis, whose office oversees insurance agent and adjuster licensing, along with insurance fraud investigations, plans to step down and run for Congress next year. News outlets reported that Patronis, a staunch supporter of President-elect Donald …
People Moves: Coalition Taps Munich Re’s Foster as Head of London Mkts.; Hamilton Re Expands Into Credit, Bond & Political Risk Reinsurance With Lottimore Appointment
This edition of International People Moves details appointments at the MGA Coalition and Hamilton Re. A summary of these new hires follows here. Coalition Taps Munich Re’s Foster as Head of London Markets Coalition, the San Francisco-based cyber managing general …
GM, Ford Fall on Trump Tariffs Seen Adding $3,000 to Car Prices
Shares of US automakers tumbled on worries that a new round of tariffs imposed by President-elect Donald Trump will cause sticker prices to soar even further. Trump said that he would impose additional 10% levies on goods from China and …
Leavitt Inland Pacific Merges with Troy Insurance Agency in Idaho
Leavitt Inland Pacific is merging with Troy Insurance Agency in Idaho. Both agencies are locally owned and affiliates of Leavitt Group, a network of insurance brokers. This strategic partnership enables Leavitt Inland Pacific to offer service team support and use …
United Says FAA Staffing Shortages Causing Disruption at Newark Hub
United Airlines said on Tuesday that an acute shortage of air traffic controllers was causing “significant disruption” for travelers at its busy Newark, New Jersey, hub outside of New York City. The airline said the Federal Aviation Administration has been …
Maine Joins States Suing Big Oil to Recover Costs of Climate Change ‘Deception’
Maine Attorney General Aaron Frey has filed suit in state court against Exxon, Shell, Chevron, BP, Sunoco, and the American Petroleum Institute for allegedly “deceiving Mainers for decades about the role of their fossil fuel products in causing climate change.” …
Aon to Purchase In-House Insurance Agency of Mitsubishi Chemical Group in Japan
Insurance broker Aon plc announced it has signed a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), enhancing Aon’s risk and health capability offering in Japan. Financial details of the deal were not disclosed. …
Unite and Conquer: How the Insurance Industry Can Deflate Social Inflation
At one of the early meetings of American Legal Connections, Rich Henderson, a senior vice president for reinsurer TransRe, bumped into a concerned client from a hospital insurance company who brought his team members to the event. The insurer was …