INSURANCE NEWS
Miller Acquires Spanish Specialty Re/Insurance Broker Bruzon
Miller, the London-based specialist re/insurance broker, announced the acquisition of Madrid-based commercial insurance and reinsurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and its subsidiary Bruzon Services S.A., subject to regulatory approval. Financial details of the deal, which is …
FBI Takes Down Huge Global Army of Zombie Computer Devices
The FBI said it has dismantled what is likely the world’s largest botnet — an army of 19 million infected computers — that was leased to hackers for cybercrimes. The botnet, which was spread across more than 190 countries, enabled …
Supreme Court Backs NRA in First Amendment Claim Against New York Regulator
The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization’s First Amendment rights by coercing insurers and banks to terminate their business relationships with the NRA …
Everest Launches Mexico Operations, Expanding Its Global Insurance Network
Everest, the Bermuda-based specialty re/insurer, announced it has received regulatory approval to begin operating in Mexico. Trading as Compañía de Seguros Generales Everest México S.A. de C.V., the unit is headquartered in Mexico City and is led by Jaime Chaves …
Minnesota Program Fails to Deter Alcohol Overservice
A strategy aimed at preventing Minnesota restaurants and bars from serving alcohol to patrons who are already intoxicated does not appear to be effective, according to a study recently published in Alcohol: Clinical and Experimental Research. Overservice, that is, serving …
ARCW Acquires CLC Insurance Agency in Clearwater
Clearwater-based CLC Insurance Agency has merged with ARCW Insurance, a Leavitt Group affiliate, the companies said in a news release this week. CLC, founded four years ago by Crystal Callahan Lawson, now Callahan-Estes, will relocate to ARCW’s Pinellas Park offices. …
Irish Court Case on Russia Jet Insurance Claims to Begin on June 11
Ireland’s High Court is to begin hearing a dispute around insurance claims for aircraft stuck in Russia on June 11, a week later than scheduled, after parties in the case asked for additional time to prepare, a court spokesman said …
Kentucky Families Struggling After Being Hit Second Time by Tornadoes
BARNSLEY, Ky. (AP) — Devin Johnson’s life was uprooted for a second time when a tornado flattened his home over the Memorial Day weekend — on the same lot in Kentucky where another storm left him homeless in 2021. Johnson, …
Latest Texas Storms Bring Damaging Winds, Baseball-Sized Hail
HOUSTON (AP) — Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving one person dead and about 1 million businesses and homes without power as much of the U.S. recovered from severe weather, including tornadoes, that …
Texas Panhandle Braces for Damaging Hail and Wind: Weather Watch
Severe thunderstorms are set to sweep across Texas Panhandle, including Lubbock and Amarillo on Thursday. The risk will drop on Friday and Saturday but destructive systems will still be possible, the US Storm Prediction Center said. “A tumultuous weather pattern …
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the reinsurance business of Howden. These decreases follow a …
32.7M Homes at Risk of Hurricane Damage, CoreLogic Report Shows
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk Report, which comes …