INSURANCE NEWS
UK Broker Kingfisher Insurance Acquires MIS Motorsport’s Commercial Business
Kingfisher Insurance Services Ltd., the London-based specialist insurance broker, has acquired MIS Motorsport’s commercial business in the UK and Ireland. Financial details of the transaction were not disclosed. As part of the acquisition, a new entity will be created called …
Ryan Specialty Completes Purchase of Certain Assets of Geo Underwriting Europe
Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has completed the acquisition of certain assets of the European managing general agent, Geo Underwriting Europe BV (Geo Europe), part of The Ardonagh Group. The deal was completed on Oct. …
UK Finance Firms’ Concern Over Geopolitics at Record Level
The share of UK financial services firms worried about geopolitical risks is at its highest level since the 2008 crash, the Bank of England said. The BOE’s biannual systemic risk survey, which began during the financial crisis, said on Wednesday …
Typhoon Krathon Hits Taiwan With Dangerous Winds, Heavy Rain
Typhoon Krathon crossed the southwest coast of Taiwan packing dangerous winds, with the storm leaving thousands of customers without power and shutting the stock exchange a second day. Krathon had maximum sustained winds of 126 kilometers (78 miles) per hour …
AXA, Aircraft Lessor DAE Clinch Deal as UK Battle Over Jets ‘Seized’ in Russia Kicks Off
Aircraft lessor Dubai Aerospace Enterprise (DAE) has secured a settlement with insurer AXA AXAF.PA over jets retained in Russia since the 2022 invasion of Ukraine, raising the prospect of further deals as a London High Court “mega trial” kicked off. …
Hybrid Jeep Owners Should Park Outside Pending Recall Fix, NHTSA Says
The U.S. National Highway Traffic Safety Administration said owners of 154,000 Jeep plug-in hybrid electric SUVs should park outside and away from buildings or other vehicles until they get recall repairs completed. Jeep-parent Stellantis on Sept. 30 said it was …
Amazon Hit With US Labor Board Complaint Over ‘Joint Employment’ of Drivers
Amazon.com has been accused by a U.S. labor board of illegally refusing to bargain with a union representing drivers employed by a contractor, the agency announced on Wednesday. The complaint from the National Labor Relations Board claims that Amazon is …
Miami Condo President Charged With Skimming $1.5 Million in Association Fees
The long-time president and engineer of an upscale Miami-area condominium remained in jail late Wednesday after he was charged with stealing $1.5 million in association fees over the last seven years. It’s the second time in two years that a …
Inszone Acquires Dan Davis Insurance Solutions in California
Inszone Insurance Services acquired Dan Davis Insurance Solutions in San Jose, California. Dan Davis Insurance Solutions is an insurance agency that specializes in serving the homeowner association board members, HOA members and community managers segment. Sacramento, California-based Inszone is an …
Modeler KCC Puts Privately Insured Losses at $6.4B From Helene
Karen Clark & Co., the well-regarded storm modeling and analytics firm, estimates that privately insured losses from Hurricane Helene will be about $6.4 billion – from wind, storm surge and inland flooding in nine states. The figure includes residential, commercial …
California Wildfires Have Burned 1M Acres So Far This Year. Heat Wave Poses More Risk
The total acres burned in California this year surpassed 1 million as spiking temperatures this week added to the challenges facing firefighters struggling to contain a stubborn blaze in the mountains northeast of Los Angeles that flared up over the …
Louisiana Department of Insurance Warns of Online Scams Post Francine
The Louisiana of Department of Insurance (LDI) is warning residents to be cautious of online scams related to Hurricane Francine insurance claims. The LDI has detected an increase in online advertising activity related to Hurricane Francine, some of which attempts …