INSURANCE NEWS
Vehicle Crashes Into Tree in Wisconsin, Killing 5
Five people died in a fiery vehicle crash in Wisconsin, authorities said Saturday. The Dane County Sheriff’s Office said in a statement that the vehicle crashed into a tree Friday night off a roadway just south of Verona, a town …
Texas Agency Seeks $100M to Tackle Well Blowouts
Unable to keep up with the growing number of leaking and erupting wells in the state’s oil fields, the Texas Railroad Commission, which regulates the state’s oil and gas industry, has asked lawmakers for an additional $100 million in emergency …
Helicopter Pilot Was Talking With Air Traffic Controller at Time of Fatal Houston Crash
HOUSTON (AP) — A helicopter pilot was speaking with an air traffic controller in Houston when the aircraft crashed into a radio tower, killing all four people on board, according to a preliminary report by the National Transportation Safety Board. …
People Moves: Aon Underwriting Managers Appoints LSM’s Clapham as CUO; Lloyd’s Taps Aviva’s Adams as Chief People Officer, Succeeding Gomez
This edition of International People Moves details appointments at Aon Underwriting Managers and Lloyd’s of London. A summary of these new hires follows here. Aon Underwriting Managers Appoints LSM’s Clapham as CUO Aon plc, the global professional services firm, announced …
Spain’s Floods to Cost Insurers More Than €1 Billion: Morningstar DBRS
Southern Spain’s devastating floods are expected to cost insurers well above €1 billion ($1.1 billion), given the significant damage to people, properties, vehicles and businesses as well as to the region’s agriculture sector, according to a commentary from Morningstar DBRS. …
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal Emergency Management Agency(FEMA), administrator of the NFIP, said the change was …
NC Insurers Warned on Flood Denials in Underwriting; NFIP Allows Monthly Premiums
North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance indemnity or federal assistance. In most cases, the …
Markets/Coverages: Marsh Offers Insurance to Manage Risks of Fake Carbon Credits
Marsh, the insurance broker and business of Marsh McLennan, has partnered with We2Sure, a specialist in insurance and risk management solutions for carbon credit certificates, to launch a new insurance facility to help organizations in the UK, EU, and US …
Hawaii Attorney General Probe into Deadly Wildfire Won’t Lead to Criminal Charges
An investigation by the Hawaii attorney general’s office into the deadliest U.S. wildfire in more than a century, which destroyed most of the historic town of Lahaina, won’t lead to any criminal charges. Hawaii Attorney General Anne Lopez launched an …
Vienna Insurance Group Launches Specialist Cyber Security Company
Vienna Insurance Group has launched a specialist cyber security company focused cyber risk management for small and medium-sized companies. Called Cyber Risk Solutions GmbH (CyRiSo), the company provides comprehensive support to help companies reduce cyber risks and to prevent and …
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third quarter underwriting income with Berkshire Hathaway’s insurance insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases in losses from prior year claims. In releasing its earnings …
Facebook, Nvidia Ask Supreme Court to Spare Them From Securities Fraud Suits
The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies …