INSURANCE NEWS
Insurance Technology: Aon Tool Analyzes and Quantifies Potential D&O Losses
Corporate risk managers looking to gauge the likelihood that their directors and officers will be sued and how much that might cost have a new digital tool to help them. Global insurance broker Aon has launched its Directors and Officers …
Remnants of Hurricane Ernesto Trigger Wind and Rain Warnings in Scotland
Yellow weather warnings are in place for Scotland on Thursday, as the remnants of Hurricane Ernesto bring strong winds and heavy rain. There’s an alert for rain across western Scotland, with more than 100 millimeters (4 inches) forecast for higher …
Unseasonal Winter Heat Across Australia Raises Wildfire Risks
Australia is facing elevated wildfire risks months ahead of the summer fire season, as an unusually warm winter scorches parts of the continent and threatens to set temperature records. Heat is forecast to bake vast areas of the country in …
Swiss Re First-Half Profit Beats Estimates on Lower Catastrophe Claims
Swiss Re AG’s first-half net income beat estimates, as the re-insurer avoided higher claims from natural catastrophes that have impacted the broader insurance industry. Profit for the second quarter was $996 million, resulting in net income of $2.1 billion for …
Yacht Insurer OMAC Is Hull Carrier for Sunken Yacht in Sicily, Sources Say
Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …
WV Governor Scrambles to Halt Foreclosure of His Greenbrier Hotel
CHARLESTON, W.Va. (AP) — West Virginia Gov. Jim Justice, deep in the middle of a U.S. Senate race, is also in a mad-dash legal fight to keep a historic West Virginia hotel at his luxury resort before it’s auctioned off …
Disney Drops Bid to Toss Allergy Suit Because Plaintiff Signed Disney+ Arbitration
NEW YORK (AP) — Disney is no longer asking a Florida court to dismiss a wrongful death lawsuit on the grounds that the victim’s family had signed up for its streaming service Disney+. The company filed a notice in Orange …
Titan Aerospace Acquires Plimsoll Specialty, Boosting Aviation Insurance Range
Atlanta-based Titan Aerospace Insurance, one of the larger aviation insurance brokers, has acquired Plimsoll Specialty Markets, a boutique aviation and aerospace brokerage house also based in Atlanta. Michael Clark, president of Plimsoll, is now president of Titan Specialty Markets, the …
Maine Can Forbid Discrimination by Religious Schools Taking State Money
Maine didn’t violate the U.S. constitutional rights of religious schools by requiring them to abide by the state’s antidiscrimination law to receive taxpayer-funded tuition assistance, a federal judge ruled. But the judge also acknowledged that a higher court will ultimately …
Compounding Disasters in Lake Charles Highlight Need for Disaster Preparedness
Most Americans will remember 2020 as the year when the pandemic changed everything. But for Lake Charles, Louisiana, and its neighbors along the Gulf Coast, it was also the year of record-setting disasters, when “once-in-a-lifetime” storms hit in such rapid …
People Moves: Alliant Insurance Services Adds Heter to Midwest Team
Alliant Insurance Services, headquartered in Irvine, California, named Brad Heter as vice president and producer within its employee benefits group serving Alliant’s Midwest region, specifically in the Ohio market. Heter has over 20 years of experience as an employee benefits …
People Moves: Alliant Appoints Aguirre to Lead New Commercial Surety Practice
Alliant Insurance Services, headquartered in Irvine, California, named Alliant Specialty Senior Vice President Orlando Aguirre as the leader of its newly launched Alliant Commercial Surety. Based in Houston, Aguirre joined Alliant as senior vice president in 2021 and has experience …