INSURANCE NEWS
Evergrande Liquidators Seek to Quash Regulator’s PwC HK Deal
China Evergrande’s liquidators have asked a court to void a HK$1 billion ($127.6 million) shareholder compensation deal a regulator struck with PricewaterhouseCoopers’ Hong Kong affiliate. The fund was part of an agreement with Hong Kong’s Securities and Futures Commission in …
To Carriers’ Relief: New Florida Rule Won’t Count Mediation Requests as Complaints
At long last, Florida property insurers may be thinking, state regulators have revised a consumer complaint tabulation methodology that many had criticized as skewed, unrealistic and out of line with most other states. Under Rule 69O-138.003, published last week, the …
Second Firefighter Dies From Injuries at Maine Lumber Mill Explosion
A second firefighter has died from injuries suffered while fighting a fire and explosion at a Maine lumber mill last month. The May 15 fire at Robbins Lumber in Searsmont sent plumes of black smoke into the sky and necessitated …
Russian Warship Fires Warning Shots Near British Yacht
The UK is investigating the firing of warning shots by a Russian warship near a British yacht just outside of its territorial waters. The UK received reports from a UK-registered yacht alleging Russia’s Admiral Grigorovich-class frigate fired the shots at …
People Moves: Lockton Appoints Lespérance as CEO of Canadian Business; Aon Taps Marsh’s Desmond as Head of Construction for UK Commercial Risk
This edition of International People Moves details appointments at the brokers Lockton and Aon. A summary of these new hires follows here. Lockton Appoints Lespérance as CEO of Canadian Business Lockton, the privately held independent insurance brokerage, announced the appointment …
ANV Agrees to Buy Open Lending Corp in All-Cash Deal
ANV Group Holdings Ltd. said it has entered a definitive merger agreement with Open Lending Corporation. ANV said it will acquire all outstanding shares of Open Lending common stock for $3.15 per share through an all-cash tender offer. The transaction …
ANV Acquires Texas-Based Open Lending
ANV Group Holdings, a global insurance intermediary platform, and Open Lending Corporation, a provider of insurance-backed lending enablement and risk analytics solutions for financial institutions, announced that they have entered into a definitive agreement whereby ANV will acquire all outstanding …
Alabama GOP Dismisses Tuberville Residency Challenge Brought by Insurance Agent
The Alabama Republican Party said U.S. Sen. Tommy Tuberville will remain the party’s gubernatorial nominee, rejecting a claim on Sunday that he had not lived in the state long enough to run for governor. The unanimous decision came after the …
People Moves: Lawley Expands Team Across Its Footprint
Lawley, headquartered in Buffalo, New York, named three new team members. Stéphane Legris, insurance advisor, based in Buffalo and serving the Saratoga, New York region. As an insurance advisor, Legris specializes in business insurance, captive solutions, and construction, transportation, and …
Latent Construction Defects: A Hidden Source of Disputed Water Losses in Fast-Built Texas Markets
A nail driven through a supply line during original construction. It happens more often than most claims professionals would expect. In one North Texas home, the fastener sat embedded in the pipe wall for years, gradually weakening the line until …
Lawsuit Dismissed of Ex-Yosemite Ranger Fired for Hanging Transgender Flag
A federal judge has dismissed a lawsuit brought by a former Yosemite National Park ranger who was fired after flying a giant transgender pride flag from a rock wall that looms over the California park’s main thoroughfare. U.S. District Judge …
Markets/Coverages: Nationwide, Barn Owl Partner to Monitor Rural Property Owners
Insurer Nationwide looks to its customers in taking a new approach to rural property monitoring through a relationship with Barn Owl, a provider of solar-powered, cellular-connected remote camera systems designed specifically for farms, ranches and rural agribusiness operations. Nationwide said …