INSURANCE NEWS
Toyota, Mazda, Mercedez-Benz Issue Recalls, NHTSA Says
Toyota Motor Corp is recalling over 42,000 U.S. vehicles over loss of power brake assist that can extend the distance required to stop, the National Highway Traffic Safety Administration said on Friday. The recall affects certain 2023-2024 Corolla Cross Hybrid …
Cargo Carriers Fear Port Strike Will Paralyze Half of US Trade
The world’s top container carrier is urging customers to move US cargo through East and Gulf Coast ports before the planned start on Tuesday of a dockworker strike that threatens to paralyze as much as half the nation’s seaborne trade …
Florida Storm Surge Swamps Nuclear Plant, Pro Golfer’s Home, Many More
Hurricane Helene’s storm surge along Florida’s western edges is being called the most devastating since 1921, responsible for destroying or heavily damaging hundreds of homes and businesses in the area. One of those homes belonged to pro golfer John Daly, …
Florida Suspends Doctor’s License After Fatal Surgery That Removed Wrong Organ
A Florida surgeon’s license was suspended last week after he reportedly removed the wrong organ from a patient, leading to the man’s death. Dr. Thomas Shaknovsky, working at Ascension Sacred Heart Emerald Coast Hospital near Fort Walton Beach, made repeated …
Early Lessons From Helene Show Catastrophes Are Here to Stay, Flood Insurance Vital
Hurricane Helene made landfall late Thursday, Sept. 26, in the Florida Big Bend, a sparsely-populated 150-mile coastal stretch from Apalachee Bay, south of Tallahassee, to Waccasassa Bay in the south. All told, the population of the area amounts to less …
People Moves: AXA XL Promotes Flanagan to Lead P&C Bermuda; Intangic Names Cryer as Dir. of Client Solutions; Dale Names Daniel Head of Global Property Reinsurance
This edition of International People Moves details appointments at AXA XL Bermuda, the MGA Intangic, and the Lloyd’s insurer Dale Underwriting Partners. A summary of these new hires follows here. AXA XL Promotes Flanagan to Head of P&C Bermuda AXA …
Louisiana Fortify Homes Program Doubles Grants as Registrants Surge
Louisiana Insurance Commissioner Tim Temple said the number of grants has doubled for the latest round of the Louisiana Fortify Homes Program due to high volume of registrants. Temple increased the number of grants this round from 300 to 600 …
The Fidelis Partnership Launches MGA Seraphina, Led by Sanders From Probitas 1492
Pine Walk Capital Ltd., the specialist MGA incubator platform and wholly owned subsidiary of The Fidelis Partnership, announced the launch of the MGA Seraphina. Seraphina will write a broad portfolio of international property business, complementing and diversifying The Fidelis Partnership’s …
Judge Approves $600M Settlement for Residents Near Ohio Train Derailment
A federal judge on Wednesday approved a $600 million class-action settlement Wednesday that Norfolk Southern railroad offered to everyone who lived within 20 miles (32 kilometers) of last year’s disastrous derailment in East Palestine, Ohio. Judge Benita Pearson gave the …
Inmate Who Was Beaten in Patrol Car in Arkansas Files Federal Lawsuit
LITTLE ROCK, Ark. (AP) — An inmate who was beaten by an Arkansas police officer in the back of a patrol car filed a lawsuit Tuesday against the former officer and his police chief, accusing them of violating his constitutional …
Canada’s Axis Insurance Acquires P/C Broker Baker Insurance
Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced the acquisition of Baker Insurance, a property/casualty brokerage based in Calgary. Financial details of the deal were not disclosed. This strategic move strengthens Axis’ presence in the region and enhances …
Court Upholds Finding That Montana Clinic Submitted False Asbestos Claims
A federal appeals court has upheld a lower court determination that a Montana health clinic submitted hundreds of false asbestos claims on behalf of patients. A jury decided last year that the clinic in a town where hundreds of people …