INSURANCE NEWS
Boating Accident Claims Lives of 2 Men in Illinois Lake; Girl Survives
MARSEILLES, Ill. (AP) — Two Indiana men have died and a 7-year-old girl has been found safe after the boat they were fishing from was found capsized on an eastern Illinois lake. Police responded Sunday to a 911 call at …
Ohio Nursing and Rehab Facility to Pay $150K Over Discrimination Settlement
The Laurels of Athens, a nursing and rehabilitation facility in Athens, Ohio, owned and operated by Laurel Heath Care Company, Athens LTC, Inc., Ciena Healthcare Management, Inc., and Ciena Group, LLC, will pay $150,000 and provide other relief to settle …
Texans’ Bid to Stay Cool in Heat Lifts Power Use to New High
Texans set an unofficial record in electricity use Tuesday as soaring temperatures spurred homeowners, schools and businesses to crank up air conditioners. Power demand on the state grid rose to 85,559 megawatts at 6 p.m. local time, topping the August …
Florida Peninsula MGA Changes Name to Windward Risk Managers
Florida Peninsula Managers, the managing general agency for Florida Peninsula Insurance and Edison Insurance, has officially changed its name to Windward Risk Managers, the name of the company that has managed it for years. The change comes a month after …
Launched by Spinnaker, Mainsail Now to be Harbored by Emerald Bay Risk
One year after it was approved for the Florida market, Mainsail Insurance Co. has been sold to Emerald Bay Risk Solutions, an underwriter and fronting carrier that was launched earlier this year. The move will help expand business in the …
Kroger Seeks to Block FTC Case Against Albertsons Acquisition
Kroger Co. is seeking to block the Federal Trade Commission’s in-house case against its proposed purchase of rival grocer Albertsons Cos., claiming the proceeding is unconstitutional. The FTC, eight states and Washington, DC, challenged the Kroger-Albertsons tie-up in February, suing …
Malawi Gets Insurance Payout of $11.2 Million for El Niño-Linked Drought Disaster
The Malawian government has received an insurance payout of $11.2 million for a crippling El Niño-linked drought that led the southern African nation to declare a state of disaster earlier this year. The payout was given to Malawi this month, …
Wall Street Regulator Approves Tougher Rules for Accounting ‘Negligence’
Wall Street’s top regulator on Tuesday voted 3-2 to bless new rules making it easier for an audit watchdog to hold people responsible for audit firms’ violations. Divided along party lines, the five-member U.S. Securities and Exchange Commission approved a …
Storm Warnings in Place Across Europe, From Northern Greece to Poland
Thunderstorm alerts are in place for a swath of Europe from Poland and Hungary to Italy and Greece. There are orange warnings for northern Greece, as the summer heat gives way to violent storms and the risk of flooding. Serbia …
Markets/Coverages: Rokstone and Accredited Announce Multi-Year Capacity Agreement
Rokstone, the Aventum Group’s international re/insurance MGA, announced a multi-year, multi-strategy capacity agreement with Accredited Insurance Program Management, a leading global program manager. The partnership includes both US and international business. This strategic partnership marks a significant milestone for both …
Lynch, Bloomer, Others Feared Dead as Divers Search Sunken Yacht Off Coast of Sicily
Italian divers on Wednesday prepared for a third day of search and rescue efforts around a sunken yacht off Sicily, where British tech entrepreneur Mike Lynch, Morgan Stanley International chairman Jonathan Bloomer and four others were feared to have died …
US Firms Warn Against ‘Unprecedented’ Hong Kong Cyber Rules
US firms have warned that parts of a proposed cyber law could grant the Hong Kong government unusual access to their computer systems, highlighting the latest challenge to Western tech giants in the city. The Asia Internet Coalition, which includes …