INSURANCE NEWS
Maryland Approves $2.75 Million Settlement in State Police Discrimination Case
Maryland officials approved a $2.75 million settlement on Wednesday to resolve a federal investigation into discriminatory hiring practices affecting Black and female applicants to the Maryland State Police. The settlement, approved by the Maryland Board of Public Works, will include …
Environmental Group Turns to Oyster Shells to Rebuild Sinking Louisiana Coastline
Jonathan Phillips says he thinks about Louisiana’s disappearing coastline every day. As a commercial fisherman and member of the Atakapa-Ishak/Chawasha tribe, he sees water levels rising in Plaquemines Parish firsthand. He grew up in Marrero but spent a lot of …
Texas’ Abbott Touts Dallas Finance Hub as New Bourse Makes Hires
Texas Governor Greg Abbott said the upstart Texas Stock Exchange will help transform Dallas into the country’s top financial center and boost businesses’ access to capital. “Dallas, Texas, is already a massive financial center, but when you put a stock …
Brown & Brown Acquires Minnesota’s The Canopy Group
Brown & Brown announced the acquisition of the assets of The Canopy Group, a a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. Based in Le Sueur, Minnesota, The Canopy Group serves …
People Moves: Starwind Specialty Welcomes Conrad as Chief Underwriting Officer
Starwind Specialty Insurance Services, headquartered in New York City, named Kirk Conrad as chief underwriting officer. Conrad, based in Dallas, has over two decades of experience across multiple industry sectors, spanning roles in commercial and personal lines, risk management and …
McGriff Amps Up SE Benefits Offerings With Acquisition of Amity in Tampa
McGriff, a large retail insurance brokerage headquartered in Charlotte, announced it has acquired Amity Benefits, an employee benefits brokerage based in Tampa. Amity, founded in 2017, has specialized in the auto dealer space. The acquistion will expand McGriff’s capabilities in …
State Investigating Tenn. Plastics Factory After Flooding Killed 11 Workers There
A Tennessee plastics factory kept workers going until it was too late to evacuate before Hurricane Helene flooding swamped the building, employees have said. Now, the company is likely facing liability lawsuits and heightened workers’ compensation costs after the deaths …
Lloyd’s Focuses on Delegated Authority Arrangements as Looming Market Risk
While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. During a recent market briefing, Rachel Turk, Lloyd’s chief underwriting officer, …
AssuredPartners Acquires Halstead Agency of Massachusetts
Global insurance broker AssuredPartners announced it has acquired Halstead Insurance Agency, a Fitchburg, Massachusetts-based agency offering personal and commercial insurance. The Halstead team will remain under the operational leadership of agency president Anthony P. Trapasso, Jr. and agency vice president, …
American Dams Weren’t Built for Today’s Climate-Charged Rain and Floods
As flooding hammered Appalachia in the aftermath of Hurricane Helene, residents became intimately familiar with a new norm in the US’s post-storm script: dams at imminent risk of failing. Officials last week said multiple dams were on the brink, including …
Biden Says Prolonged Port Strike Would Be ‘Man-Made Disaster’
President Joe Biden ratcheted up pressure on US port employers and shipping lines to restart talks with striking dock workers, warning that the unfolding strike could turn into a “man-made disaster.” Biden spoke about the strike that has shuttered every …
Maui Fire Caused by Broken Power Lines, County and US Find
The fire that razed the historic Maui town of Lahaina last year was caused when Hawaiian Electric Industries Inc. re-energized broken utility lines that caused sparks to ignite unmaintained dry vegetation, the Maui Fire Department said. The blaze was a …