INSURANCE NEWS
Hub Acquires Michigan’s True North Group
Hub International Limited announced the acquisition of the assets of True North Group Insurance Services, LLC (True North Group). Terms of the transaction were not disclosed. Located in Howell, Michigan, True North Group is an independent insurance agency that focuses …
People Moves: IMA Financial Group Names Mizell Director of Energy & Marine Practice
IMA Financial Group, Inc., headquartered in Houston, named John Mizell as a director within IMA Houston’s energy and marine practice. Before joining IMA, John led McGriff Insurance Services, Inc.’s Houston office as executive vice president and energy and marine practice …
Houston Floodwaters Starts to Recede; 800 Structures Damaged
HOUSTON (AP) — Floodwaters in the Houston area and parts of Southeast Texas began to recede on Monday, allowing residents to begin returning to their homes and assess damages after days of heavy rainfall that pummeled the area and led …
People Moves: RT Specialty’s Environmental & Construction Professional Practice Promotes Six
RT Specialty made six promotions to leadership roles in its environmental & construction professional practice. Hannah Altomare was promoted to consultant. Altomare joined RT ECP six years ago. She previously served as commercial lines account manager at Dash & Love, …
Louisiana Governor Signs Package of Property Insurance Reform Bills
Louisiana governor Jeff Landry signed a package of insurance reform bills Tuesday aimed at encouraging insurers to write more business in the state’s property market. The legislation, endorsed by Louisiana Insurance Commissioner Tim Temple, will give property insurers more flexibility …
Ardonagh to Acquire Australia’s PSC Insurance Group for A$2.3 Billion
Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Australia’s PSC Insurance Group Ltd., in a deal valued at A$2.3 billion (US$1.5 billion). PSC is a diversified insurance services group that operates brokerage businesses and …
Lawsuit Alleges Decades of Child Sexual Abuse at Illinois Juvenile Detention Centers
CHICAGO (AP) — Child sexual abuse at Illinois juvenile detention centers was pervasive and systemic for decades, according to disturbing accounts in a lawsuit filed Monday by 95 men and women housed at the youth centers as children. The lawsuit …
Pfizer Agrees to Settle More Than 10,000 Zantac Cancer Lawsuits
Pfizer Inc. has agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug, according to people familiar with the deal, the biggest of the litigation. The agreements cover cases in state …
Markets/Coverages: FM Global Names Leadership for New Renewable Energy Unit
Commercial property insurer FM Global announced the launch of a renewable energy unit to help clients in the transition to alternative energy through research and innovation, and to support the overall advancement of the renewable energy industry. FM Global’s Renewable …
McMaster Requests Federal Help After Wind, Hail Storm That Damaged SC Homes
South Carolina Gov. Henry McMaster has requested a presidential disaster declaration to assist in recovery after wind and hail damaged homes the northern part of the state on April 20. “I have determined that the situation and survivor recovery needs …
In Tesla Autopilot Probe, US Prosecutors Focus on Securities, Wire Fraud
U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking …
International General Insurance Holdings Begins Trading at Lloyd’s on May 9
International General Insurance Holdings Ltd. announced it will begin trading for the first time at Lloyd’s on May 9, 2024, demonstrating the company’s long-term commitment to the London market. Located in the Lloyd’s underwriting room at One Lime Street, IGI …