INSURANCE NEWS
Injured While ‘Simply Walking’ Not Covered by Workers’ Compensation
Not all accidents are compensable merely because they happen at work, the Virginia Workers’ Compensation Commission (WCC) reminded in denying workers’ compensation benefits to a school bus driver for an injury that happened while he was simply walking from his …
ALKEME Conjures Another Acquisition with Georgia’s Professional Benefits Consultants
California-headquartered ALKEME, ranked as one of largest U.S. insurance brokerages, has continued its growth spurt with the recent acquisition of Professional Benefits Consultants, based in Canton, Georgia. The move underscores ALKEME’s expansion in the Southeast and the growth of its …
Alabama Now Requiring Quarterly Reports From Surplus Lines Brokers
Starting this spring, surplus lines brokers in Alabama must file quarterly reports showing all surplus lines transactions, the state Department of Insurance said this week. The rule is in keeping with state law and took effect Jan. 1. The quarterly …
Lloyd’s CEO Neal Appointed Aon CEO of Reinsurance, Chairman of Climate Solutions
Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance and chairman of Climate Solutions, effective following the conclusion of Neal’s notice period at Lloyd’s of London where he has served as CEO since October …
Thousands Flee From Uncontrolled Wildfires Burning Near Los Angeles
Millions of people in California face at least two more days of dry, hot winds that have fanned fires across Los Angeles County and sent residents fleeing for their lives. Hurricane-force wind gusts of as much as 86 miles (138 …
Deep Vector Closes $1.5M Round Co-Led by Aperture and InsurTech NY
Deep Vector, an artificial intelligence (AI) platform for analyzing underwriting documents, closed its seed round of $1.5 million, co-led by Aperture Venture Capital and InsurTech NY. Deep Vector helps insurers and brokers translate analog documents used for underwriting risk—claims loss …
Lawsuit Alleges Fox Sports Ex-Host Harassed Hairstylist, Offered $1.5M for Sex
A woman who worked as a hairstylist for Fox Sports alleges in a lawsuit that former host Skip Bayless made repeated, unwanted advances toward her — including an offer of $1.5 million to have sex with him. Attorneys for Noushin …
Virginia’s Andrew Agency Acquires Richmond Insurance Agency
The Andrew Agency has acquired Garriques, Lloyd & McMahon in Richmond, Virginia. Founded in 1963, GLM Insurance is a third-generation family-owned agency providing personal and commercial insurance throughout Virginia and North Carolina. The Andrews Agency is an independent agency based …
South Korea Reviews Airport Runway Walls After Fatal Jeju Crash
South Korea plans to review the concrete walls positioned just beyond the end of some airport runways after an aircraft attempting an emergency landing smashed into one just over a week ago, killing almost everyone on board. Authorities will alter …
Israel Cyber Firms Raise $4 Billion in 2024 on Surge of Cloud, AI Security Needs
Israeli cybersecurity firms raised $4 billion in 2024, more than double that of 2023, led by firms seeking to protect the cloud along with a surge in artificial intelligence, global venture capital firm YL Ventures said on Tuesday. Cybersecurity has …
Oil Tanker Linked to Subsea Cable Damage Has Serious Deficiencies, Finland Says
Finland’s public transport agency said on Wednesday that an oil tanker suspected of damaging undersea cables in the Baltic Sea has been found to have serious deficiencies and will not be allowed to operate until repairs have been made. Baltic …
Artificial Intelligence Energy Demand Is Driving Climate Tech Investing
Energy startups have overtaken the makers of electric cars and batteries as the top global climate tech investment for the first time since 2020. They’ve done so as the growing demand for artificial intelligence has driven interest in technologies that …