INSURANCE NEWS
Afore Adds New Jersey’s BCA Insurance as Mid-Atlantic Partner
Afore Insurance Services, LLC has added BCA Insurance Group (BCA) of New Jersey to its platform as a partner in the Mid-Atlantic region. The acquisition allows BCA to expand its footprint by continuing to operate under the BCA name and …
UK Employers Warn Tax Rise Will Hit Investment and Pay
British employers have been caught off guard by a 25 billion-pound ($31 billion) tax rise at last month’s budget and plan to cut training, investment and jobs in response, a leading employers group said on Monday. The Confederation of British …
AM Best Improves Outlook on US Personal Auto Segment to ‘Stable’
Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, …
Secret Russian Oil Switching Gets New Greek Hotspot After Drills
The secret switching of Russian fuel cargoes between tankers at sea has migrated to new hotspots off the coast of Greece after the European country used naval drills to try and block the activity in one location. About 1 million …
Storm Bert Brings Flooding and Disruption to UK and France
Storm Bert left a trail of disruption across the UK, with hundreds of flood warnings in place for Wales and the west of England. Five people were reported to have died by local media, after the storm brought heavy rain …
Higginbotham Fitts in Another Alabama Agency
Higginbotham, an independent insurance and human resources firm based in Texas, has joined forces with Fitts Agency in Tuscaloosa, Alabama, further expanding Higginbotham’s presence in the state. Fitts CEO Forrest Fitts said the partnership is a good fit for both …
Generali and Natixis in Early Talks for Asset Management Tie-Up, FT Reports
France’s Natixis Investment Managers is holding early-stage talks with Italian insurer Generali about a potential tie-up, the Financial Times reported on Monday. The firms have not yet agreed to terms of a deal, and it remains uncertain whether the talks …
New York Fines GEICO $9.75M, Travelers $1.5M Over Auto Insurance Cyber Breaches
Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New …
Best Agency to Work For – East Gold Winner: Mackoul Risk Solutions
Instead of becoming a major league umpire, Ed Mackoul chose to help his father build an insurance empire. Ed wasn’t sure how his life would turn out before joining Mackoul & Associates in 1995. College didn’t give him an answer. …
Chinese Hackers Preparing for Conflict, Says US Cyber Official
Chinese hackers are positioning themselves in U.S. critical infrastructure in the event of a clash with the United States, a top American cybersecurity official said on Friday. Morgan Adamski, the executive director of U.S. Cyber Command, said ongoing Chinese-linked cyber …
UK Expands Sanctions Against Russian Oil Fleet and Its Insurers
The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie …
Contentious COP29 Deal Shows Climate Cooperation Fraying at Edges
When COP29 President Mukhtar Babayev stepped to the podium at the closing meeting of the Baku climate summit on Sunday morning, hoping to clinch a hard-fought agreement on global climate finance, he carried with him two speeches. One was crafted …