INSURANCE NEWS
Tropical Storm Ernesto Drenches Puerto Rico on Path Northward
Tropical Storm Ernesto pounded Puerto Rico with torrential rain and winds as it brushed by the island on a track that’s likely to see it become a hurricane later Wednesday. Ernesto was about 85 miles (135 kilometers) north-northwest of San …
Allstate to Sell Employer Voluntary Benefits Business to StanCorp for $2 Billion
Insurer Allstate has agreed to sell its subsidiaries that provide employer voluntary benefits to StanCorp Financial Group (The Standard) in a $2 billion cash deal, the company said in a regulatory filing on Tuesday. The deal comes at a time …
South Korean Alarm Over EV Fires Puts Spotlight on Safety Concerns
South Korea is urging automakers operating in the country to disclose the manufacturer of batteries used in electric vehicles (EV) as authorities try to calm fears over fires involving EVs, after a recent blaze in an underground parking lot that …
UK Insurer Aviva Beats Earnings Forecasts on Home, Motor Insurance Price Hikes
British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in …
Was July 2023 or July 2024 the Hottest Month on Record? Yes.
July saw record-breaking heat around the world, including the hottest day ever recorded and multiple national heat records. But whether it was the hottest month in history depends on who you ask. Last week, Copernicus — the EU’s climate science …
Markets/Coverages: Liberty Mutual Re, Insurtech Sprout Offer Parametric Cover for Kenyan Coffee Farmers Facing Climate Risk
Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has partnered with insurtech firm Sprout Inc. and the Kenyan insurer Britam to launch a parametric insurance product, which aims to protect Kenyan coffee growers from financial losses due …
Drax Global Reports Violating Air Emissions Limits at Louisiana Plants
NEW ORLEANS (AP) — British energy giant Drax Global, already under scrutiny for running afoul of environmental laws in multiple states, has disclosed to the state of Louisiana that its wood pellet production facilities emit hazardous air pollutants above their …
Markets/Coverages: Amwins, Floodbase Unveil Flood Insurance for Golf Courses; Aegis Pro Risk Partners With Sentry on E&O Program
Amwins announced the launch of its “Tees-to-Green” flood insurance program powered by Floodbase to reimburse U.S. golf courses for lost revenue due to flooding. Golf courses are often built on land prone to flooding. Yet, resorts and courses generally only …
Health Systems Increasingly Targets of Cyberattacks But They Can be Ready
Just as a Southeastern U.S. blood center tries to recover from another cyberattack on a health system, others who have lived through the pain offered some words of wisdom in a webinar Tuesday that could help providers minimize disruption as …
Vineyard Wind Allowed to Resume Limited Offshore Turbine Installation
Vineyard Wind and GE Vernova on Tuesday said U.S. safety officials have allowed them to resume limited construction on an offshore wind farm off the Massachusetts coast where a turbine blade shattered last month. Vineyard Wind, owned by Avangrid and …
Reporting High Electric Bills Helps Nab Illegal Marijuana Farms But Raises Privacy Issues
Operators of illegal marijuana grow enterprises hidden inside rural homes in Maine don’t have to worry much about prying neighbors. But their staggering electric bills may give rise to a new snitch. An electric utility made an unusual proposal to …
ALKEME Acquires Dunhill Marketing and Insurance Services in California
ALKEME acquired Dunhill Marketing & Insurance Services in San Diego, California. Founded in 1992, Dunhill Insurance Services offers insurance services and specializes in life insurance and annuities with a focus on high-end markets. Ladera Ranch, California-based ALKEME is an insurance …