INSURANCE NEWS
Chubb Records 13.3% Uptick in Q1 Net Income on Underwriting
Chubb started 2024 off with first quarter net income up 13.3%, compared to the same time a year ago, to about $2.1 billion. The first three months of 2024 followed a year Chubb CEO Evan G. Greenberg called the “best …
Michigan Doctor Faces Trial for Alleged $400K Disability Insurance Fraud
A Michigan doctor was bound over last week in the 48th District Court in Bloomfield Hills on charges stemming from an allegedly fraudulent disability insurance claim and subsequent years of receiving fraudulent payments, Michigan Attorney General Dana Nesse announced. She …
Ohio Manufacturer Fined $314K Following Fatal Workplace Incident
An Ohio subsidiary of one of the world’s largest automotive suppliers could have prevented a 26-year-old employee in Franklin from being fatally crushed in October 2023 if the company had provided proper machine guarding. Investigators with the U.S. Department of …
People Moves: Arch Insurance International Promotes Valder to Deputy CEO; Carbon Underwriting Taps Everest Re’s Crocker as Active Underwriter
This edition of International People Moves details appointments at Arch Insurance International and the MGA Carbon Underwriting. A summary of these new hires follow here. Arch Insurance International Promotes Valder to Deputy CEO Arch Insurance International has announced the appointment …
Baltimore to Court: ‘No Way’ Should Ship’s Liability for Bridge Collapse Be Limited
The city of Baltimore is fighting the attempt by the owner and operator of the cargo ship Dali that crashed into the Francis Scott Key Bridge to limit their liability under maritime law. “In no way should their liability be …
What to Know About New Rights for Pregnant Workers
Pregnant employees have the right to a wide range of accommodations under new federal regulations for enforcing the Pregnant Workers Fairness Act that supporters say could change workplace culture for millions of people. The Equal Employment Opportunity Commission, the agency …
Risk Perception Drops After Hurricanes: Study
As time passes after hurricanes, new analysis by Stanford University researchers shows perception of personal risk, including the likelihood of injury and home damage, decline. The findings suggest that programs and policies that aid households to think beyond stocking up …
Cape Coral Says FEMA Giving More Time on Questioned Rebuilding Info After Ian
The Federal Emergency Management Agency has granted the city of Cape Coral a 30-day extension to provide more information on rebuilding in the area after Hurricane Ian. The announcement came Monday, three weeks after FEMA notified local officials in southwest …
New York AG, Trump Attorneys Agree to Changes in $175M Bond in Civil Fraud Case
Lawyers for former President Donald Trump and the New York attorney general on Monday agreed to changes in the terms of the $175 million surety bond Trump secured with Knight Specialty Insurance Co. (KSIC). Attorney General Letitia James had objected …
Wildfires in Canada’s Oil Sands Region Prompts Evacuation Orders
Wildfires erupted across Canada’s main oil producing province of Alberta and an evacuation order was issued as the region braces for a repeat of last year’s unprecedented season. Members of the indigenous first nation community of Cold Lake Number 149, …
OPTIS: Insurance Agency M&A Down 18% in Q1 2024
The first quarter of 2024 was the slowest for insurance agency mergers and acquisitions since the middle of the pandemic, according to investment banking and financial firm OPTIS Partners. OPTIS Partners’ M&A database counted 155 announced insurance agency mergers and …
Savannah Ordinance: Vehicles Should be Locked When Guns Left Inside
SAVANNAH, Ga. (AP) — Coastal Georgia’s largest city will require guns left in empty vehicles be securely stored, an effort that Savannah Mayor Van Johnson says is meant to cut down on gun thefts from unlocked cars. “We are not …