INSURANCE NEWS
People Moves: Price Forbes Re Taps Howden’s Waterhouse as Head of Property Fac; AXA XL Appoints Underwriters and Claims Adjusters for UK Cyber Team
This edition of International People Moves details appointments at Price Forbes Re and AXA XL. A summary of these new hires follows here. Price Forbes Re Taps Howden’s Waterhouse as Head of Property Fac Price Forbes Re, the London-based specialist …
Cape Cod Margaritaville Contractor Owes $300K in Workers’ Pay Plus $70K Penalty
A Virginia-based construction company converting a Cape Cod hotel into a Margaritaville Resort has reached a settlement with the state of Massachusetts over wage violations affecting 78 workers. Massachusetts Attorney General Andrea Joy Campbell announced a settlement with Remby Contractors, …
Cal/OSHA Cautioning Employers to Protect Workers From Wildfire Smoke
Cal/OSHA is urging employers to protect workers from unhealthy air due to wildfire smoke. The Line Fire is impacting air quality in areas around San Bernardino and Riverside counties. Employers are required to monitor air quality, adjust work practices, and …
Canada’s Axis Insurance Acquires Employee Benefits Specialist O’Neill Group
Axis Isurance Managers Inc., the Vancouver, Canada-based insurance broker, announced it has acquired the O’Neill Group, one of British Columbia’s premier employee group benefits, life insurance, and wealth advisory firms. Financial details of the deal were not disclosed. O’Neill Group …
Shippers Scramble for Workarounds Ahead of Threatened Port Strike
U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains …
Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market
Sompo, the Bermuda-based provider of commercial and consumer property/casualty insurance and reinsurance, announced the launch of a new national marine insurance proposition for the United Kingdom. Sompo’s Marine Cargo UK policy and its Transport & Logistics propositions are both designed …
Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index
For the fourth time in six years, cyber risk ranked highest as a concern for business leaders. In fact, this year cyber as a top concern reached an all time high, according to the 2024 Travelers Risk Index. Cyber was …
WTW Launches China Client Division With Yan Appointed as Division Leader
Insurance broker WTW has launched a new China Client Division within Corporate Risk and Broking, North America (CRB NA), as part of its strategy to expand its presence and broaden offerings focused on the Chinese market. The new China Client …
Lawyers Say Other Victims Could Sue Mississippi Sheriff Over Brutality Claims
JACKSON, Miss. (AP) — Attorneys for two Black men who were tortured by Mississippi law enforcement officers said Monday that they expect to file more lawsuits on behalf of other people who say they were brutalized by officers from the …
Central European Insurers’ Financial Strength to Remain Solid Despite Severe Floods
The heavy rains and severe floods of Storm Boris, which inundated Central and Eastern Europe during the second week in September, will be the most severe flood event in about a decade, carrying an insurance price tag of an estimated …
Alkeme Cooks Up Acquisition of Surry Insurance in North Carolina
Alkeme, a large insurance brokerage based in California, announced the acquisition of Surry Insurance, one of the oldest insurance agencies in Nouth Carolina. Alkeme officials said in a statement that the move expands Alkeme’s presence in the Southeast and boosts …
Vanguard Investments Fined for Greenwashing as Australia Eyes ESG Claims
Australia’s federal court has fined Vanguard Investments Australia Ltd. A$12.9 million ($8.9 million) for making misleading claims about a fund, the highest penalty issued in the country so far over greenwashing. In March, the court found the investment giant made …