INSURANCE NEWS
PG&E Cut Power to 2,000 as Extreme Heat Bakes California
PG&E Corp. cut power to about 2,000 homes and businesses in Northern California as triple-digit temperatures, strong winds and low humidity heightened the risk of wildfires. The utility said it preemptively shut power across small areas of eight counties and …
Marshall Elected Chair of Virginia Workers’ Compensation Commission
Wesley G. Marshall has been elected to a three-year term as chairman of the Virginia Workers’ Compensation Commission (VWC), effective July 1, 2024. He succeeds Commissioner Robert A. Rapaport, whose term ended June 30, 2024. Marshall, of Richmond, was appointed …
Robots, Drones and Driverless Tractors Usher In New Age of Farming
Tractors plow the farm fields without drivers, guided by satellites and iPhones. Solar-powered robots tend to plants on the ground like giant outdoor Roombas, while drones fly overhead spraying the crops. It may sound like science fiction — perhaps Uncle …
People Moves: IMA Financial Names Arons Rosen as Dallas Market President
IMA Financial Group, an independent insurance brokerage and risk management consulting firm, announced that Jordyn Arons Rosen will be its new Dallas Market President, effective July 1, 2024. Arons Rosen will succeed insurance industry veteran Robert Broz, who played a …
Patrick Watkins Receives Drex Foreman Award by IIAT
Watkins Insurance Group announced that Patrick Watkins has been awarded the distinguished Drex Foreman Award by the Independent Insurance Agents of Texas (IIAT). This prestigious accolade recognizes exemplary leadership and significant contributions to the insurance industry. As CEO and majority …
Coverys Launches London Market Insurer, Approved to Write US E&S Business
Coverys Ltd., a UK entity in the Coverys Group of Companies, has received regulatory authority to launch a London company market insurer, effective June 26. Coverys Ltd. is part of Coverys’ dedicated London platforms which include both insurance company and …
Ryan Specialty Shuffling Continues; McCormack Named CEO of RT Specialty
A day after Ryan Specialty Holdings announced a handful of executive moves following the retirement of founder Patrick G. Ryan, the company continued to promote from within by naming Edward F. McCormack chief executive officer of RT Specialty. McCormack is …
North Carolina, Florida Home Sellers Facing New Flood Disclosure Requirements
As of this week, home sellers in North Carolina must now disclose previous flood damage to properties. And come Oct. 1, Floridians must make similar disclosures, potentially boosting the demand for flood insurance. The North Carolina Real Estate Commission this …
Supreme Court Rejects Challenge to Workplace Safety Agency
The U.S. Supreme Court declined on Tuesday to hear a challenge by an Ohio company to the power of the federal workplace safety regulator as the justices avoided another legal effort to pare back the authority of federal agencies. The …
Delaware Law to Allow Big Investors Greater Sway Over US Corporate Boards
Delaware is poised to adopt changes to its widely used corporate law that critics argue could weaken U.S. boards of directors in favor of influential investors such as private-equity firms. State lawmakers last week approved a bill that gives a …
Japan Insurers Plan to Sell $3.1 Billion Worth of Honda Shares, Reuters Reports
Japan’s four top property and casualty insurers, along with other financial firms, are planning to sell around ¥500 billion ($3.1 billion) worth of shares in Honda Motor Co., Reuters reported. Tokio Marine Holdings Inc., Sompo Holdings Inc. and two units …
Right-Wing Political Tilt in Countries Across Globe Will Not Derail Climate Action
A political tilt to the right in Europe and a potential Trump presidency in the U.S. will not derail climate efforts as businesses are increasingly locked into green strategies, delegates at London Climate Action Week heard. A big election year, …