INSURANCE NEWS
Judge Dismisses Most Claims in Lawsuit Alleging Hair Discrimination at Houston High School
HOUSTON (AP) — A federal judge on Tuesday dismissed most of the claims in a lawsuit filed by a Black high school student who alleged that school officials committed racial and gender discrimination when they punished him for refusing to …
Warner Pacific Acquires Texas’ Ashmore Agency
Warner Pacific announced it has completed its acquisition of the General Agency of Ashmore Agency, Inc. Terms of the deal were not disclosed. Founded in 1984 by Elizabeth “Beth” Ashmore and her husband Will Ashmore, and headquartered in Lubbock, Texas, …
Legacy Acquirer DARAG to Sell North America, Bermuda Units to Fairfax’s RiverStone
DARAG Group, the Malta-based legacy acquisition company, announced it has agreed to sell its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. The sale, which is subject to regulatory approvals, is …
Heritage Sees Improved Profits, Plans to Resume Writing in Florida, Other States
Tampa-based Heritage Insurance, enjoying improved profits for the second quarter this year, said it plans to resume writing new policies in Florida and Northeastern states, two years after it ceased new business in the areas. “Importantly, we have now reached …
European Insurers Enjoy Big Profits After Premium Hikes
Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …
UK Insurers Pull Back From Offering Cover as Flood Threats Rise
Increased flooding in Britain from overflowing rivers and blocked drains is leading insurers to pull back from offering cover, particularly for commercial properties and residential landlords, industry representatives say. London was among British cities hit by flash floods last week …
Florida CFO Issues Order on ‘Despicable’ Public Adjusters as Debby Floods Carolinas
Significant flooding was expected across southeast North Carolina and eastern South Carolina Thursday and Friday as Tropical Storm Debby made a second landfill just north of Charleston. “Debby will continue to slowly move over the Carolinas, bringing heavy to torrential …
Heatstroke Death of Baltimore Sanitation Worker Prompts Calls for Workplace Safety
Elected officials and union leaders in Baltimore are calling for safer and more humane working conditions for the city’s public works employees after a man collapsed and died from heatstroke last week while collecting trash during hot summer weather. Critics …
Maryland Hikes Penalties for Violations of Insurance Laws
The Maryland Insurance Administration (MIA) is notifying the insurance industry that the maximum penalties that may be imposed for certain violations of the state’s insurance laws will be going up substantially starting October 1. The legislature (House Bill 67 and …
Titan Sub Victim’s Family Seeks $50 Million Over Fatal Implosion
The family of renowned French diver and Titanic expert Paul-Henri Nargeolet is seeking $50 million after he was killed in the implosion of OceanGate’s Titan submersible last year. In a wrongful death lawsuit filed Tuesday in Washington state court, Nargeolet’s …
UK Insurer Beazley Upgrades 2024 Forecast After H1 Profit Nearly Doubles
British insurer Beazley upgraded its combined ratio forecast for 2024 on Thursday after first-half pretax profit nearly doubled, boosted by growth in its property risks premiums and fewer catastrophe losses, sending its shares up 10%. The insurer, which commands about …
Taylor Swift Shows in Vienna Canceled After Terrorism Threat
Taylor Swift shows planned for this week in Vienna have been canceled after Austrian police arrested two people on suspicion of planning a terrorist attack. Concerts for the American pop megastar were canceled after the Austrian government confirmed the planned …