INSURANCE NEWS
Fecal Contamination in Perrier Well Adds to $300 Billion Sector’s Hurdles
In the arid highlands near the town of Vergèze in southern France, the sun beats down on a small stone house as the buzz of cicadas fills the air. Until a few months ago, beneath this tile-roofed structure, a pump …
Fresh Appetite for Risk Can Help Arrest Britain’s Downward Spiral, Think Tank Says
Britain’s decade-long economic downward spiral could be reversed with a fresh appetite for risk that might help boost annual investment by a required 100 billion pounds ($131 billion) over the next decade, a leading think tank said on Friday. In …
People Moves: Zurich N.A. Hires AIG’s Hattauer to Head Financial Lines; Aon Promotes Leaders Within US Financial Services Group
Zurich N.A. Hires AIG’s Hattauer to Head Financial Lines Zurich North America hired Nora Hattauer as head of financial lines for Zurich’s U.S. national accounts and middle market businesses. Hattauer officially starts her role at Zurich on Oct. 21. Based …
Howden Alleged to Have Poached Insurance Rival’s Team in UK Suit
One of the UK’s top insurers is accused of using a team of “recruiting sergeants” to poach talent from a rival that led to mass resignations in Brazil and London. Aon UK Ltd. sued Howden Group Holdings Ltd. in the …
Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-Year Update, which details emerging cyber trends and their impact on …
Group of Scientists Say Climate Change Drove Helene Impacts
Climate change was a key driver of the devastating impacts of Hurricane Helene, a group of scientists said this week. Hurricane Helene made landfall as a Category 4 major hurricane west-southwest of Perry, Taylor County, Florida on Sept. 27, with …
Anaheim Marriott Cited $12.5M for Violating California Worker Recall Law
A state investigation found that Anaheim Marriott hotel violated California’s worker recall law, resulting in estimated damages for the violations of $12.5 million. The damages will go to 28 workers who were laid off during the pandemic and were reportedly …
Former California Agent Pleads Guilty to 90 Counts of Insurance Fraud
A former insurance broker has pleaded guilty to a number of charges including insurance fraud for collecting premiums without placing coverage. Karen Marie Dondanville, 56, a former broker from Mission Viejo, pleaded guilty to 90 counts including grand theft auto, …
Louisiana Contractor Charged for Allegedly Damaging Homeowners’ Roof
On an early August morning, a roofing contractor arrived at a Lafayette, Louisiana couple’s house and requested permission to inspect the home’s roof. The roofer’s arrival wasn’t unexpected. The couple, who go by Jordan and Sarah, had been approached days …
5 Dead After Small Plane Crashes on Island off Southern California Coast
Five people were killed when a small plane crashed during takeoff from Santa Catalina Island off the Southern California coast, authorities said. The twin-engine Beechcraft 95 crashed shortly after 8 p.m. Tuesday, just moments after it departed from Catalina Airport …
First MainStreet Adds Two Agencies
First MainStreet Insurance L.C. (FMSI) announced addition of two new agencies, one in Minnesota and the other in Iowa. Joining in September was Kozlowski Insurance Agency, headquartered in Pipestone, Minnesota and two satellite offices in Luverne, MN and Brookings, SD. …
Exxon Granted Largest US Offshore Carbon Storage Site in Texas
Exxon Mobil Corp. won the right to pump carbon dioxide beneath Texas state waters in the Gulf of Mexico, in what will be the largest concession of its kind in the US. The lease granted by the Texas General Land …