INSURANCE NEWS
TDCI Hosts SE Regulators Conference in Nashville in November
The Tennessee Department of Commerce and Insurance will host the 2024 Southeastern Regulators Association conference in Nashville, promising a number of familiar faces in the insurance and legal industries as keynote speakers. The Nov. 3-5 conference is co-hosted by Insurors …
Wisconsin Contractor Faces $144K Fine for Endangering Workers
A suburban Madison, Wisconsin contractor with a history of federal safety failures – including violations that led to an employee’s fatal injuries in 2022 – has again been found exposing workers to the construction industry’s most deadly hazard – falls …
Jewelers Mutual Expands to NC Office Tower, Warns About Store Break-ins Nationwide
Jewelers Mutual Insurance, one of the largest and oldest jeweler-focused insurers in the country, plans to lease a full floor of a new officer tower in downtown Raleigh, North Carolina, a move that will create about 200 jobs, according to …
Unnamed Storm in Carolinas Caused $7 Billion in Damage, AccuWeather Says
The storm that swamped parts of the Carolinas this week wasn’t organized enough to be named but it still has caused $7 billion in damage, according to a preliminary estimate from AccuWeather. That was approaching the $9 billion in damage …
Ex-Google Executive’s Startup to Use AI to Forecast the Weather
A startup founded by a former Google executive aims to use artificial intelligence to improve weather forecasting, joining technology behemoths like Nvidia Corp. and Huawei Technologies Co. in an increasingly crowded field. Brightband has raised a $10 million series A …
Sir Charles Roxburgh Named Next Chair of Lloyd’s, Succeeding Carnegie-Brown
Lloyds of London, the re/insurance marketplace, announced that Sir Charles Roxburgh has been named its next chair, subject to regulatory approval. Sir Charles will take up the position on May 1, 2025, succeeding Bruce Carnegie-Brown after his eight-year term. Sir …
Washington Metal Fabricator Faces Felony in $340K Workers’ Comp Scam
A Washington man who claimed he was too injured to work while operating a metal fabrication shop faces a felony charge in an alleged $340,000 workers’ compensation scam. Travis Lee Johnson, 52, of Spokane Valley, pleaded not guilty recently to …
Report: Over 250,000 US Properties Have Repeated NFIP Claims
More than a quarter million U.S. properties have repeated claims for federal flood insurance, costing the National Flood Insurance Program billions of dollars in claims, according to new federal data compiled by the National Resources Defense Council. Four states account …
Families of 3 Construction Workers Killed in Baltimore Bridge Collapse to Sue
Three families of immigrant construction workers killed when Baltimore’s Francis Scott Key Bridge collapsed after it was hit by the cargo ship Dali plan to challenge the attempt by the ship owner and operator to limit their liability for the …
Lockton Gets Regulatory Approval to Operate Reinsurance Brokerage in Colombia
Lockton, the Kansas City, Missouri-based insurance brokerage firm, announced it has received regulatory approval to operate a reinsurance brokerage business in Colombia. “Lockton’s continued growth in Latin America is bolstered by this expansion of our capabilities in Colombia,” said Andrew …
People Moves: Vantage Promotes Granda to Head of Political Risk and Credit; Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation
This edition of International People Moves details appointments at the Bermuda-based re/insurer Vantage Group Holdings and the insurance broker Miller. A summary of these new hires follows here. Vantage Promotes Granda to Head of Political Risk and Credit Vantage Group …
Markets/Coverages: Mosaic Offers Syndicated Terrorism Cover for Fine Art & Specie
Mosaic Insurance, the Bermuda-based specialty insurer, has launched customized global terrorism and sabotage coverage for fine art and specie insureds, with syndicated capacity extending up to $215 million per risk. The new product offers coverage for physical loss or damage …