INSURANCE NEWS
People Moves: Accredited Taps SCOR’s McMurdo to Lead UK, European Operations; Aon Promotes Barcock to Lead Aviation Reins., Admiral Stavridis Appointed to Board
This edition of International People Moves details appointments at program manager Accredited UK & Europe and insurance broker Aon. A summary of these new hires follows here. Accredited Taps SCOR’s McMurdo to Lead Its UK and European Operations Accredited Insurance …
Georgia Investment Manager Charged with Siphoning $6M from GEICO
A Georgia grand jury has indicted an investment manager, charging that he diverted almost $6 million from GEICO Insurance for his own use. Dwayne Peterson Davis, 54, of Atlanta, was a business partner with GEICO in a multimillion-dollar commercial development …
What Latest Inflation Report Shows Overall and for Auto Insurance, Medical Costs
The U.S. Bureau of Labor Statistics reported today that the Consumer Price Index (CPI) increased 0.2 percent in July, after declining 0.1 percent in June. Over the last 12 months, the all items index increased 2.9 percent. The core consumer …
Floods Threaten Europe as Searing Heat Gives Way to Storms
Extreme heat in parts of Spain and France is giving way to storms and flood warnings, while Greece is bracing for more blazes after the huge wildfire near Athens was brought under control. Orange alerts are in place for a …
An Estimated 290 Residences Damaged by Flooding From Lake Dammed by Alaska Glacier
Roughly 290 residences in Alaska’s capital city were damaged last week by flooding from a lake dammed by the Mendenhall Glacier, officials said. In addition to the homes and apartment and condo units, at least two businesses were damaged, Deputy …
People Moves: Chubb Appoints Ohsiek, Hagan and Le to Key Finance Posts
Chubb Appoints Ohsiek Chief Accounting Officer, Hagan CFO of Operations and Le as Chief Auditor Chubb made three executive appointments effective Sept. 4. Chubb appointed George Ohsiek as vice president and chief accounting officer of the Chubb Group. He currently …
Texas Sues GM for Allegedly Collecting Drivers’ Data, Then Selling it to Insurers
General Motors GM.N has been sued by the state of Texas, which accused the automaker of installing technology on more than 14 million vehicles to collect data about drivers, which it then sold to insurers and other companies without drivers’ …
Tropical Storm Ernesto Drenches Puerto Rico on Path Northward
Tropical Storm Ernesto pounded Puerto Rico with torrential rain and winds as it brushed by the island on a track that’s likely to see it become a hurricane later Wednesday. Ernesto was about 85 miles (135 kilometers) north-northwest of San …
Allstate to Sell Employer Voluntary Benefits Business to StanCorp for $2 Billion
Insurer Allstate has agreed to sell its subsidiaries that provide employer voluntary benefits to StanCorp Financial Group (The Standard) in a $2 billion cash deal, the company said in a regulatory filing on Tuesday. The deal comes at a time …
South Korean Alarm Over EV Fires Puts Spotlight on Safety Concerns
South Korea is urging automakers operating in the country to disclose the manufacturer of batteries used in electric vehicles (EV) as authorities try to calm fears over fires involving EVs, after a recent blaze in an underground parking lot that …
UK Insurer Aviva Beats Earnings Forecasts on Home, Motor Insurance Price Hikes
British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in …
Was July 2023 or July 2024 the Hottest Month on Record? Yes.
July saw record-breaking heat around the world, including the hottest day ever recorded and multiple national heat records. But whether it was the hottest month in history depends on who you ask. Last week, Copernicus — the EU’s climate science …