INSURANCE NEWS
What Latest Ivans Index Shows About Commercial Lines Renewal Rate Changes
All major commercial lines premium renewal rates were higher in July than in June, except commercial property which decreased, according to the latest monthly Ivans Index. Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced …
People Moves: Arch Insurance International Promotes Penberthy to CFO; Price Forbes Singapore Names Coates as Chief Broking Officer
This edition of International People moves details appointments at Arch Insurance International and Price Forbes Singapore. A summary of these new hires follows here. Arch Insurance International Promotes Penberthy to CFO Arch Insurance International announced the promotion of Marie Penberthy …
UK Faces High Wildfire Risk After Spell of Warmer Weather
Europe’s wildfire risks are extending as far north as the UK after a recent spell of hot weather. Parts of southeastern England, including areas around London, face high wildfire risks later this week, according to forecasts from Copernicus. Wildfires have …
Google Monopolized Search Through Illegal Deals, Judge Rules
Google illegally monopolized the search market through exclusive deals, a judge ruled Monday, handing the government a win in its first major antitrust case against a tech giant in more than two decades. Judge Amit Mehta in Washington said that …
Hurricane Debby Brings Six Deaths, Widespread Flood Losses in Florida, Georgia, SC
Hurricane Debby left at least six people dead Monday along with widespread flooding in the same parts of Florida and Georgia that were swamped by Hurricane Idalia less than a year ago. Debby made landfall near Steinhatchee, in the Big …
California’s Park Fire Continues to Slowly Grow to 647 Square Miles
The Park Fire continues to slowly grow to 647 square miles, as thousands of firefighters continue to work to gain more control over the Northern California blaze, which is now the state’s fourth largest on record. The fire runs across …
Two More Wirecard Executives Charged in Germany Over Accounting Scandal
German prosecutors have charged another two former Wirecard executives, according to a statement from their Munich office on Tuesday, casting their net wider in investigations into one of Germany’s biggest corporate scandals. Wirecard collapsed in June 2020 over a 1.9 …
GSK Wins Latest Trial Over Zantac Cancer Claims
GSK won the latest trial over claims that discontinued heartburn drug Zantac caused cancer, as a jury on Monday found that the drug was not responsible for an Illinois woman’s illness, a company spokesperson said. Carrie Joiner had alleged in …
Nearly a Third of Carbon Credits Fail New Benchmark Test
Nearly a third of existing carbon credits have failed to meet criteria for a new standard that aims to serve as the global benchmark for the voluntary carbon market, its board said on Tuesday. In the voluntary market, companies can …
Hub Acquires Pennsylvania Commercial Lines Agency IMC
Global insurance brokerage Hub International Limited announced it has acquired Insurance Management Company (IMC). Located in Erie, Pennsylvania, IMC provides commercial insurance and risk management services to commercial, industrial, institutional and construction risks, with offerings that complement Hub’s existing specialty …
UK’s Thames Water Seeks Deal to Escape £104 Million Sewage Fine
Cash-strapped Thames Water is seeking to strike a deal with its regulator to avoid a fine of £104 million ($133 million) for polluting rivers. Industry regulator Ofwat said the utility released raw sewage from wastewater treatment works for years without …
New Hampshire’s HPM Insurance Acquires Insurance Savers
HPM Insurance of Amherst, New Hampshire reports it has acquired Insurance Savers Agency, a personal and commercial lines agency with offices in the towns of Littleton and Thornton. The purchase of Insurance Savers Agency expands the footprint of HPM Insurance …