INSURANCE NEWS
Risk Placement Services Acquires Litchfield Special Risks in Texas
Risk Placement Services acquired El Paso, Texas-based Litchfield Special Risks Inc. Bill Brenton and his team will remain in their current location under the direction of Ash Thomas, vice president of the Western Region for RPS. LSR is a wholesale …
Fidelis Partnership Launches International Casualty MGA, Writing Primary, Excess Cover
Pine Walk Capital Ltd., the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of an international casualty MGA called Sevanta Specialty Liability Ltd. Sevanta will focus on niche international specialty liability, writing business …
Auto Insurer Root to Pay New York $975K Over Data Breach
New York Attorney General Letitia James has secured $975,000 in penalties from auto insurance company Root over a data breach that exposed the personal information of about 45,000 New Yorkers. Root does not offer insurance in New York, but scammers …
People Moves: Marsh Promotes Russell as Global Head of Wholesale; Markel Boosts Wholesale Claims Team With 3 Key Promotions, Technical Claims Hire
This edition of International People Moves details appointments at insurance broker Marsh and the insurer Markel. A summary of these new hires follows here. Marsh Promotes Russell as Global Head of Wholesale, Meah as Head of Strategy, Global Placement Marsh, …
UK Pledges Anti-Bribery Cooperation With French, Swiss After US Retreat
British, French and Swiss prosecutors agreed to form a new intelligence sharing partnership in a bid to tackle overseas corruption following the pullback of US authorities from international bribery cases. The three senior prosecutors announced the initiative Thursday [March 20] …
AI Chatter Hits Record on European Earnings Calls Across Sectors
The chatter around artificial intelligence on earnings calls in Europe is scaling new peaks as even companies beyond technology-related sectors are embracing it to boost efficiency and competitiveness. Mentions of “AI” on fourth-quarter earnings calls of companies in the Stoxx …
Michigan Taco Bell Franchises Sued for Sexual Harassment
Six related entities operating Taco Bell restaurants in Michigan violated federal law when they allowed a senior area manager to sexually harass female employees, including multiple teenage employees, he supervised, and fired a local assistant manager the same day she …
As Mountain Glaciers Melt, Risk of Catastrophic Flash Floods Rises for Millions
In mountain ranges around the world, glaciers are melting as global temperatures rise. Europe’s Alps and Pyrenees lost 40% of their glacier volume from 2000 to 2023. These and other icy regions have provided freshwater for people living downstream for …
Texas Measles Outbreak Could Become National Epidemic: Public Health Experts
With its measles outbreak spreading to two additional states, Texas is on track to becoming the cause of a national epidemic if it doesn’t start vaccinating more people, according to public health experts. Measles, a highly contagious disease that was …
Top Fund Managers Ask Federal Court to Dismiss Climate-Related Antitrust Lawsuit
BlackRoc, Vanguard and State Street have asked a federal court in Texas to dismiss a state lawsuit accusing the top fund managers of conspiring through climate activism to discourage coal output, with the firms saying the allegations rest on “half-baked …
Markets/Coverages: SiriusPoint, Broker Holmes Murphy Offer Umbrella Excess for Captives
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced a new strategic partnership with the independent insurance broker Holmes Murphy. SiriusPoint has partnered with Holmes Murphy, headquartered in Waukee, Iowa, and its wholly owned subsidiary and managing general agent Innovative …
FCC Chairman Threatens to Block M&A for Companies With DEI
The US Federal Communications Commission is prepared to block mergers and acquisition proposals from companies that promote “invidious” DEI policies, according to chairman Brendan Carr. The move could threaten billions of dollars worth of deals in the communications sector, with …