INSURANCE NEWS
New York in State of Emergency As It Faces Another Major ‘Lake Effect’ Snowstorm
New York State declared a state of emergency for portions of Western New York, Finger Lakes, Central New York and North Country regions as forecasts call for those areas to receive multiple feet of lake effect snow. Areas east of …
New Orleans Attorneys Accused of Staging Car Accidents in Insurance Fraud Scheme
Eight people and two law firms have been charged in what authorities say was more than a decade-long scheme of staging vehicle crashes in the New Orleans area and then submitting fraudulent insurance claims, leading to what prosecutors allege was …
Consulting Firm McKinsey to Pay $650M to Resolve US Opioid Probe
McKinsey & Co has agreed to pay $650 million to resolve a U.S. Department of Justice investigation into the consulting firm’s work advising opioid manufacturer OxyContin maker Purdue Pharma on how to boost sales. McKinsey has entered into a five-year …
Hub Acquires Arkansas’ Hadfield Agency
Hub International Limited announced that it has acquired the assets of Hadfield Agency, Inc. (Hadfield Agency). Terms of the transaction were not disclosed. Headquartered in Little Rock, Arkansas, Hadfield Agency is an independent, multi-line insurance agency providing commercial and personal …
Nonstandard Auto Segment Posts Profit for First Half 2024
While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record underwriting losses. Improving the overall quality of …
Ohio Bill Seeks to Prohibit Mandating Firearm Liability Insurance
A bill making its way through the Ohio General Assembly would prohibit requiring firearm liability insurance. Senate Bill 58 passed the House by a 61-27 vote and now heads to the Ohio Senate, where legislators in the chamber will have …
Firefighters Getting Handle on California Blaze That Threatened Malibu
Firefighters are getting a better handle on a California wildfire that was threatening the city of Malibu as the winds that fanned the flames begin to subside. The Franklin Fire is now 30% contained and has burned 4,037 acres, according …
Player’s Health Announces $60M Funding Round
Players Health, a provider of athlete safety and sports insurance solutions, has announced the closing of its $60 million Series C funding round. The round was led by Bluestone Equity Partners, an institutionally backed global private equity firm focused on …
Gallagher Buys Butler, a Georgia Benefits Agency
Arthur J. Gallagher, the global insurance brokerage, announced it has acquired Georgia-based Sheila J. Butler & Co., an employee benefits firm. Butler and team will remain in their office locale in Carrollton, Georgia, under the direction of Colby Paxton, head …
Texas Accuses Allstate-Owned Arity of Data Privacy Violations
Texas Attorney General Ken Paxton has filed a notice of violation against Allstate-owned Arity, a mobile data company that collects drivers’ information, for breaching the Texas Data Privacy and Security Act (TDPSA). The Nov. 29 notice alleges Arity fails to …
7 in South Carolina Plead Guilty to Defrauding Aflac But Get No Jail Time
Seven people in South Carolina pleaded guilty this week to a scheme to defraud Aflac Insurance and other insurers out of more than $70,000 by making false claims with forged documents. But they won’t be going to prison. The South …
‘Delay, Deny:’ Woman in Florida Charged with Threatening BCBS After Claim Denial
A Lakeland, Florida, woman was charged this week with threatening mass violence after she reportedly told her health insurance company: “Delay, deny, depose. You people are next” – echoing words allegedly used by the shooter of the UnitedHealthcare CEO. Briana …