INSURANCE NEWS
US Insurance Deals Outlook: More, More, More
In mid-December, PwC tallied a surge in M&A deals in the U.S. insurance industry in the second half of 2024, and predicted an active year in 2025 with brokerage and MGA deals leading the way. According to PwC’s U.S. Insurance …
JetBlue Stowaway Deaths Probed After Florida Flight From New York
Local law enforcement officials in Fort Lauderdale are investigating the deaths of two individuals found in the landing gear compartment of a JetBlue Airways Corp. plane after it arrived at the Florida airport on Monday. A representative for the Broward …
Mercury to Return to Paradise California as Rebuilding Efforts Gain Momentum
Mercury Insurance announced this week that the company will begin writing new homeowners insurance policies in the town of Paradise, California. Mercury says it is the first major insurance company to begin offering policies to Paradise homeowners since the town …
People Moves: Baum to Succeed Swedlow as President of CWCI
The board of directors of the California Workers’ Compensation Institute named the institute’s chief operating officer, Gideon L. Baum, as its next president. Baum will succeed Alex Swedlow when Swedlow retires next summer. Swedlow announced in November he planed to …
MLB Players Affiliate Withdraws Image Lawsuit Against Pirates’ Parent Company
An affiliate of the Major League Baseball Players Association withdrew its lawsuit against the parent company of the Pittsburgh Pirates and the convenience store chain Sheetz Inc. that alleged unlicensed use of players’ names and images on social media. MLB …
Agency Network Renaissance Acquires Consolidated Insurance Agents in Buffalo
Independent insurance agency network Renaissance reports it has has acquired the agency network business of Consolidated Insurance Agents Inc. (CIA), an agency network based in Buffalo, New York. Renaissance said CIA’s 23 members collectively represent $47 million in premium and …
Exxon Sues California AG, Environmental Groups Over ‘Smear’
Exxon Mobil Corp. filed a lawsuit alleging that California Attorney General Rob Bonta and several environmental groups made defamatory comments about the oil company’s ability to recycle plastic. Exxon accused Bonta, the Sierra Group and others of making “false accusations” …
Winter Storm Brings Heaviest Snowfall in a Decade to Central U.S.
A blast of snow, ice, wind and plunging temperatures stirred up dangerous travel conditions in parts of the central U.S as a disruptive winter storm brought the possibility of the heaviest snowfall in a decade to some areas. Snow and …
Texas Snow Threatens to Unleash Blackouts and Travel Chaos
A winter storm is poised to pummel Texas and the US South later this week, putting the region at risk of blackouts and travel mayhem. About 4 to 6 inches (10 to 15 centimeters) of snow and ice will fall …
Musk’s Massive Tesla Lithium Plant Hunts for Water in Drought-Hit Texas
Twenty miles outside Corpus Christi, Texas — an area so dry the local water company distributes shower timers at high school football games — the world’s richest man is nearly done building a lithium refinery that could require as much …
AM Best Removes Negative Implications on Oklahoma’s Sutton National
AM Best has removed under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sutton Specialty Insurance Company (SSIC) and Sutton National Insurance Company (SNIC), which …
After Nautilus Insurance Wins Civil Suit vs. Murdaugh, Trial Starts for His Conspirator
Just days after convicted murderer Alex Murdaugh was ordered to pay almost $15 million to Nautilus Insurance Co., his friend and co-conspirator is set to start trial in a civil suit brought by Nautilus for his role in the alleged …