INSURANCE NEWS
Illinois Contractor Faces $287K Fine for Safety Violations
Federal inspectors have cited 595 Construction LLC – a Crystal Lake, Illinois contractor with a history of exposing employees to fall hazards – for eight safety violations after finding employees framing a residential structure without required protections three times at …
Minnesota County to Pay $3.4M to Settle Suit Over Detainee’s Death
MINNEAPOLIS (AP) — Minnesota’s most populous county will pay $3.4 million to settle a lawsuit that alleged jail workers ignored the pleas of a 41-year-old man who died of a perforated bowel after spending days begging to be taken to …
Iowa Couple Pleads Guilty to Insurance Fraud
An Iowa couple pleaded guilty to insurance fraud, forgery and theft, the Iowa Insurance Division announced. Des Moines – Lance Seastrand, age 52, and his wife, Staci Seastrand, age 56, of Davenport, were sentenced on October 31, 2024, after pleading …
People Moves: Price Forbes Taps BMS’s Morgan for Global Construction Team; MGA Altea Insurance Names Dixon as Senior Underwriter
This edition of International People Moves details appointments at the broker Price Forbes and the MGA Altea Insurance. A summary of these new hires follows here. Price Forbes Taps BMS’s Morgan for Global Construction Team Price Forbes, the London-based broker, …
South Carolina Lab Recaptures 5 More Escaped Monkeys But 13 Still on the Loose
YEMASSEE, S.C. (AP) — Employees at a South Carolina compound that breeds monkeys for medical research have recaptured five more animals that escaped last week from an enclosure that wasn’t fully locked. As of Monday afternoon, 30 of the 43 …
Investment Firm Executive Lindberg Admits $2 Billion Fraud
North Carolina investment firm founder Greg Lindberg, already convicted this year on bribery charges, pleaded guilty to a separate $2 billion fraud. Lindberg, who founded Eli Global LLC, admitted in federal court in Charlotte on Tuesday that he bought a …
Global CO2 Emissions to Hit Record High in 2024, Report Says
Global carbon dioxide emissions, including those from burning fossil fuels, are set to hit a record high this year, pulling the world further off course from averting more destructive climate extremes, scientists said on Wednesday. The Global Carbon Budget report, …
Markets/Coverages: Aviva’s Lloyd’s Insurer Probitas Launches 5 New Lines of Business
Aviva’s Lloyd’s business Probitas announced it began to quote for five new classes of business – marine (cargo, fine art & specie, and ports & terminals), construction, renewable energy, contingency/event cancellation, and mergers & acquisitions (M&A), effective Nov. 1. This …
GM to Recall More Than 461,000 Vehicles Over Transmission Issues: NHTSA
General Motors will recall 461,839 vehicles over an issue with transmission, the National Highway Traffic Safety Administration said on Wednesday. The recall involves some models of 2020-2022 Chevrolet Silverado, GMC Sierra, 2021 Cadillac Escalade, Chevrolet Tahoe and GMC Yukon, among …
World Insurance Adds Skylands Insurance Group of New Jersey
National insurance broker World Insurance Associates reports it acquired the business of Skylands Insurance Group of Flanders, New Jersey on August 1, 2024. Terms of the transaction were not disclosed. Skylands was founded in 2017 and provides commercial and personal …
Cevian’s Baloise Move Triggers European Insurers to Study Deal
Baloise Holding AG has become one of the most-discussed takeover candidates in the European financial sector, after agitation by an activist investor triggered top industry players to take fresh looks at the Swiss insurer. Zurich Insurance Group AG, AXA SA …
Jury Finds Defense Contractor Liable in Torture at Abu Ghraib Prison
A federal jury on Tuesday found U.S. defense contractor CACI International liable for its role in torture at the Abu Ghraib prison near Baghdad during the Iraq war and ordered it to pay $42 million in damages. The jury’s verdict …