INSURANCE NEWS
Higginbotham Fitts in Another Alabama Agency
Higginbotham, an independent insurance and human resources firm based in Texas, has joined forces with Fitts Agency in Tuscaloosa, Alabama, further expanding Higginbotham’s presence in the state. Fitts CEO Forrest Fitts said the partnership is a good fit for both …
Generali and Natixis in Early Talks for Asset Management Tie-Up, FT Reports
France’s Natixis Investment Managers is holding early-stage talks with Italian insurer Generali about a potential tie-up, the Financial Times reported on Monday. The firms have not yet agreed to terms of a deal, and it remains uncertain whether the talks …
New York Fines GEICO $9.75M, Travelers $1.5M Over Auto Insurance Cyber Breaches
Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New …
Best Agency to Work For – East Gold Winner: Mackoul Risk Solutions
Instead of becoming a major league umpire, Ed Mackoul chose to help his father build an insurance empire. Ed wasn’t sure how his life would turn out before joining Mackoul & Associates in 1995. College didn’t give him an answer. …
Chinese Hackers Preparing for Conflict, Says US Cyber Official
Chinese hackers are positioning themselves in U.S. critical infrastructure in the event of a clash with the United States, a top American cybersecurity official said on Friday. Morgan Adamski, the executive director of U.S. Cyber Command, said ongoing Chinese-linked cyber …
UK Expands Sanctions Against Russian Oil Fleet and Its Insurers
The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie …
Contentious COP29 Deal Shows Climate Cooperation Fraying at Edges
When COP29 President Mukhtar Babayev stepped to the podium at the closing meeting of the Baku climate summit on Sunday morning, hoping to clinch a hard-fought agreement on global climate finance, he carried with him two speeches. One was crafted …
Class Action Lawsuit on AI-Related Discrimination Reaches Final Settlement
Mary Louis’ excitement to move into an apartment in Massachusetts in the spring of 2021 turned to dismay when Louis, a Black woman, received an email saying that a “third-party service” had denied her tenancy. That third-party service included an …
Hyundai Issues Recalls of Electric Cars for Loss of Power, SUVs Over Wiring Issue
South Korean carmaker Hyundai Motor is recalling about 145,235 electrified vehicles in the United States due to a loss of drive power, the National Highway Traffic Safety Administration said on Friday. The recall includes certain IONIQ 5 and IONIQ 6 …
Nissan Persuades Appeals Court to Decertify Brake Defect Class Actions
Nissan persuaded a federal appeals court on Friday to decertify 10 class actions accusing the Japanese automaker of selling cars and SUVs with defective automatic emergency braking systems that caused vehicles to stop suddenly for no reason. The 6th U.S. …
SEC’s Penalties, Relief Hit All-Time Record of $8.2 Billion
The US Securities and Exchange Commission’s fines and investor relief hit an all-time record in fiscal 2024. The agency’s enforcement actions led to $8.2 billion in penalties and reimbursement to investors, though the number of cases declined 26% compared with …
My Safe Florida Condo Program Runs Out of Funding in One Week
Just a week after a pilot program for strengthening Florida condominiums was launched it reached maximum capacity and is no longer accepting applications. The overwhelming response could underscore the need for wind mitigation and could set the stage for more …