INSURANCE NEWS
Oklahoma Insurance Commissioner Provides Resources for Storm Victims
Oklahoma Insurance Commissioner Glen Mulready notified residents of where to seek help and report damage in response to severe storms that killed four and left more than 20,000 people without power. “Our hearts go out to the communities impacted by …
Tornadoes Kill 4 in Oklahoma, Leaving Trail of Destruction
SULPHUR, Okla. (AP) — Tornadoes killed four people in Oklahoma, including an infant, and left thousands without power Sunday after a destructive outbreak of severe weather flattened buildings in the heart of one rural town and injured at least 100 …
Q1 Global Insured Natural Disaster Losses Driven by Severe Convective Storms: Aon
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
Two Montgomery Workers Charged with Insurance Fraud in Alabama
Montgomery, Alabama, authorities have charged two workers – a contract employee and a firefighter – with insurance fraud in unrelated alleged scams. Local news outlet reported that Michael Granger Hicks, who worked for a third-party vendor for the city, was …
Hack That Paralyzed US Health Care Turns Up Scrutiny on Insurer
When a cyberattack on Change Healthcare paralyzed much of the US health-care system, some lawmakers saw it as proof its parent company, UnitedHealth Group Inc., was too big. UnitedHealth Chief Executive Andrew Witty saw it differently. He has said that …
Investors Are Increasingly Interested in a Novel Type of Weather Insurance
Interest in startups trying to shake up the insurance industry is on the rise as weather catastrophes worsen. The latest sign: New York-based Arbol has raised $60 million in a Series B funding round. Founded in 2018, Arbol specializes in …
Billionaire Ellison Is Moving Oracle to Nashville From Texas
Larry Ellison plans to make Nashville the world headquarters for Oracle Corp., only a few years after relocating the tech giant from Silicon Valley to Austin. Ellison said Oracle is developing a campus in the Tennessee city, moving it closer …
Sister of Mississippi Man Who Died After Police Stop Rejects Settlement
JACKSON, Miss. (AP) — A woman who sued Mississippi’s capital city over the death of her brother has decided to reject a settlement after officials publicly disclosed how much the city would pay his survivors, her attorney said Wednesday. George …
People Moves: WTW Appoints deLaricheliere to FIPS Leadership Role; Risk Strategies Names Heron National Real Estate Practice Leader
WTW Appoints deLaricheliere to Leadership Role Within Financial Institutions and Professional Services WTW, headquartered in London, appointed Alex deLaricheliere as Strategy and execution leader and banking subvertical leader within the financial institutions and professional services (FIPS) industry division of corporate …
Maine Alters ‘Yellow Flag’ Law, Expands Mental Health Care in Wake of Shootings
Democratic Gov. Janet Mills has signed into law a suite of gun safety legislation approved by lawmakers after the deadliest mass shooting in state history, expanding background checks for private sales of weapons, bolstering the state’s “yellow flag” law, criminalizing …
Ardonagh to Acquire Italian Commercial Lines Business Mansutti S.r.l
The Ardonagh Group, the London-based insurance distribution platform, announced it has agreed to acquire Mansutti S.r.l, the commercial lines business of Italian insurance broker, Mansutti SpA. Financial details of the deal were not disclosed. Founded in 1925, Mansutti SpA, which …
Tornado in Southern China Kills 5 People, Damages Factories in City of Guangzhou
A tornado struck the southern Chinese city of Guangzhou on Saturday, killing five people and damaging more than 140 factory buildings, state media said. The China Meteorological Administration said the tornado struck about 3 p.m. in the Baiyun district of …