INSURANCE NEWS
IMA Financial Spreads Into Florida Market with Wallace Welch & Willingham
IMA Financial Group, a large brokerage specializing in wealth management and risk advice, is moving into the Florida commercial property insurance market with the acquisition of Wallace Welch & Willingham Inc. WW&W, based in the St. Petersburg area, is considered …
Construction Firm to Pay $50K to Settle Retaliation Claim
Pro Pallet, LLC, a Pennsylvania-based construction company, will pay $50,000 and furnish other relief to settle a retaliation lawsuit filed by the Equal Employment Opportunity Commission (EEOC). According to the EEOC’s lawsuit, a human resources manager received a complaint of …
Judge Allows Vermont Suit Alleging Police Bias, Excessive Force Against Black Teen
A Vermont judge has denied the city of Burlington’s request to dismiss a lawsuit alleging that police used excessive force and discriminated against a Black teenager whose mother had called law enforcement to teach him a lesson about stealing. When …
California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …
Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Liberty Mutual Holding Co. continued to put 2023’s losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of $585 million for the same period in …
July North Dakota Derailment the Latest Crash to Involve Weak Tank Cars
The fiery North Dakota derailment that burned for days early last month was the latest train crash to involve the flawed tank cars that the National Transportation Safety Board has been trying to get off the tracks for decades. The …
4 Killed When Small Airplane Crashes in Oklahoma City
Four people were killed when a small airplane crashed Tuesday afternoon in Oklahoma City, local authorities said. The plane crashed about 1:30 p.m. at Sundance Airport, a small airport on the outskirts of the city, according to Oklahoma City Fire …
Illinois City Ordered to Pay $22M in Wrongful Conviction Settlement
The city of Naperville must pay $22.5 million in damages for the wrongful conviction of a man accused of arson and murder. A federal jury awarded the damages to William Amor’s estate, the Chicago Tribune reported Tuesday. Amor was found …
Judge Dismisses Most Claims in Lawsuit Alleging Hair Discrimination at Houston High School
HOUSTON (AP) — A federal judge on Tuesday dismissed most of the claims in a lawsuit filed by a Black high school student who alleged that school officials committed racial and gender discrimination when they punished him for refusing to …
Warner Pacific Acquires Texas’ Ashmore Agency
Warner Pacific announced it has completed its acquisition of the General Agency of Ashmore Agency, Inc. Terms of the deal were not disclosed. Founded in 1984 by Elizabeth “Beth” Ashmore and her husband Will Ashmore, and headquartered in Lubbock, Texas, …
Legacy Acquirer DARAG to Sell North America, Bermuda Units to Fairfax’s RiverStone
DARAG Group, the Malta-based legacy acquisition company, announced it has agreed to sell its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. The sale, which is subject to regulatory approvals, is …
Heritage Sees Improved Profits, Plans to Resume Writing in Florida, Other States
Tampa-based Heritage Insurance, enjoying improved profits for the second quarter this year, said it plans to resume writing new policies in Florida and Northeastern states, two years after it ceased new business in the areas. “Importantly, we have now reached …