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2 Big Cannabis Insurance Providers Say Losses from California Storms Not as Bad as Feared

27 Jan 2023 20:12


Just how big an impact the recent historic California storms had on the state’s cannabis industry is still coming into focus, and while two of the biggest players in California’s cannabis insurance market are starting to see upticks in claims, …


Wisc. Court: Homicide Conviction Doesn’t Mean Baby’s Death Wasn’t an Accident

27 Jan 2023 17:53


The mother of a baby girl who was killed by her father may pursue a claim against the father’s insurer because of unresolved questions, including whether the death was an accident, a divided Wisconsin Supreme Court ruled Thursday. In a …


Inszone Acquires Texas’ Austin Insurance

27 Jan 2023 17:30


Inszone Insurance Services announced the acquisition of Austin Insurance. Established in 2005 by Cole Austin, Austin Insurance has provided insurance services in Grand Prairie, Texas for over a decade. Operations for Austin Insurance will continue under Inszone Insurance’s Dallas location. …


Illinois’ Miller Mid-America Joins VIAA

27 Jan 2023 17:21


Springfield, Illinois-based Miller Mid-America Insurance Agency recently joined Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois. Founded in 2022, the veteran-owned and operated Miller Mid-America Insurance Agency was created …


Boeing Arraigned in Texas Court Over Max Jet Crashes

27 Jan 2023 17:13


FORT WORTH — In an unusual proceeding for a corporation accused of a crime, Boeing officials were arraigned Thursday in a federal courtroom in Fort Worth for the company’s actions leading to two plane crashes in Indonesia and Ethiopia in …


January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle

27 Jan 2023 17:02


The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients facing even higher prices, according to John Doyle, president and chief executive officer of Marsh McLennan Cos. …


Risk Strategies Deal for Tanenbaum-Harber Agency Includes California-based Firm

27 Jan 2023 17:00


Risk Strategies, a national insurance brokerage, acquired Florida’s Tanenbaum-Harber, a risk management and insurance advisor. Based in Miramar, Florida, Tanenbaum-Harber traces its beginnings to 1860, the companies said in a news release. It is considered one of the largest independent …


New York Prosecutors Allege Workers’ Comp Premium Fraud in Two Schemes Worth $10M

27 Jan 2023 15:46


Manhattan District Attorney Alvin Bragg, Jr. within the past week announced two separate indictments alleging workers’ compensation fraud, one totaling $7 million in premiums and the other, $3 million. In one case, Juan Escobar, and his drywall and carpentry companies, …


Worker Falls to His Death on Ship at Port of Los Angeles

27 Jan 2023 15:22


A worker fell to his death on a ship at the Port of Los Angeles, authorities said. He fell about 50 feet from an upper deck to a lower one shortly before 5 p.m. on Wednesday, the Los Angeles Fire …


Dollar General Cited Again for Safety Issues: $15M in OSHA Fines Since 2017

27 Jan 2023 15:13


Dollar General Corp. is once again facing stiff penalties for workplace safety violations, this time in Florida and Alabama. The U.S. Department of Labor said that just weeks after the nationwide chain of discount stores was hit with citations for …


Kentucky Contractors Workers’ Comp Insurance Fund Moves Into New Headquarters

27 Jan 2023 14:47


One of the largest providers of workers’ compensation insurance in Kentucky has a new home. Or, rather, a home – its first physical headquarters. The Kentucky Associated General Contractors Self Insurers’ Fund has brought all operations in-house, added staff and …


People Moves: Insurtech Send Expands With Riley in Marketing; NFP Hires Smith for Employee Benefits

27 Jan 2023 14:43


Insurtech Send Announces Senior Hire for North American Expansion Insurtech Send Technology Solutions Ltd. has appointed New York-based Charlie Riley as vice president of marketing, North America, following a $10 million Series A funding round in November 2022. This is …


$1.5B Dike Repair Finally Done at Florida’s Okeechobee, Protecting Thousands of Home

27 Jan 2023 14:18


After 18 years, a $1.5 billion project was officially completed to repair the sprawling dike around Florida’s Lake Okeechobee that protects thousands of people from potentially catastrophic flooding during hurricanes. The Herbert Hoover Dike project overseen by the U.S. Army …


Report on Mass Shootings Urges Workplace Violence Prevention Plans

27 Jan 2023 13:58


As the nation reels from a week of high-profile shootings, a new report on mass attacks calls for communities to intervene early when they see warning signs of violence, encourages businesses to consider workplace violence prevention plans and highlights the …


‘A Tale of Two Halves’ for 2022’s Insurance Mergers and Acquisitions

27 Jan 2023 13:42


Last year was a tale of two halves for insurance mergers and acquisitions. OPTIS Partners reports 987 agency mergers and acquisitions were announced in 2022 – down 8% from 2021. A significant rise in interest rates and economic uncertainty may …


CFOs Now Occupy Hottest Seat in Boardroom and Most Acute Labor Shortage

27 Jan 2023 12:43


It’s not just truck drivers and nurses. The most acute labor shortage for many companies right now is the chief financial officer. Assignments for CFO appointments across Europe, the Middle East and Africa are up almost a third on this …


U.S. Says It ‘Hacked the Hackers’ to Bring Down Hive Ransomware Gang

27 Jan 2023 12:03


The FBI on Thursday revealed it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 …


British Financial Services Damaged by Slow Supervisors, Report Warns

27 Jan 2023 10:32


Britain’s regulators can be slow, inefficient and unpredictable, raising costs and slowly damaging the financial sector’s global competitiveness, industry body TheCityUK said in a report. Complex, opaque and slow authorizations, such as for a new chief executive or a new …


Amazon Rainforest Is Deteriorating Too Fast for Species and Climate to Adapt: Reports

27 Jan 2023 09:47


Two new scientific review articles by international teams of researchers paint a bleak picture of the state of the Amazon rainforest: The critical ecosystem is being damaged at an unprecedented pace, they warn, which may usher in “a qualitatively different …


EU Eyes $100/Barrel Cap on Russian Premium Oil Products in Next Round of Sanctions

27 Jan 2023 09:26


The European Commission is proposing that the EU set a $100 per barrel price cap on premium Russian oil products like diesel and a $45 per barrel cap on discounted products like fuel oil, European Union officials said on Thursday. …


British Motor Insurer Direct Line’s CEO James Steps Down

27 Jan 2023 09:18


Direct Line Insurance Group’s chief executive of nearly four years, Penny James, will step down with immediate effect after the British motor and home insurer faced “significant headwinds” in recent months, the company said on Friday. James, who joined Direct …


Tesla, Insurers Address Expensive Repairs in Sharply Different Ways

27 Jan 2023 09:08


Tesla Inc.’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles …


Risk Strategies Buys Tanenbaum-Harber Agency in Florida

27 Jan 2023 06:01


Risk Strategies, a national insurance brokerage, has acquired Florida’s Tanenbaum-Harber, a risk management and insurance advisor. Based in Miramar, Florida, Tanenbaum-Harber traces its beginnings to 1860, the companies said in a news release. It is considered one of the largest …


Alera Group Acquires Hackney Agency in North Carolina

27 Jan 2023 06:01


Alera Group, an independent insurance and wealth management firm, has acquired the John Hackney Agency in North Carolina. Hackney, with offices in Wilson, in the eastern part of the state, was founded in 1895 by the Hackney brothers’ great-grandfather, the …


Maryland AG Files Environmental Complaint Against Recycling Firm for Open Dumps

27 Jan 2023 06:00


Maryland Attorney General Anthony G. Brown has filed a civil complaint, on behalf of the Maryland Department of the Environment, against World Recycling Co. and three related entities (WRC). The complaint, filed in the Circuit Court for Prince George’s County, …


Tesla Confirms Nevada Expansion to Make More Electric Trucks

27 Jan 2023 06:00


Tesla confirmed it intends to invest $3.6 billion to expand its manufacturing capabilities in Nevada for “high-volume” production of electric semi-trucks and make enough cell batteries for 2 million light-duty vehicles annually. Nevada Gov. Joe Lombardo had said during his …


Virginia Teacher’s Lawyer: Administrators Were Warned 3 Times Boy Had Gun

27 Jan 2023 06:00


NEWPORT NEWS, Va. (AP) — Concerned staff warned administrators at a Virginia elementary school three times that a 6-year-old boy had a gun and was threatening other students in the hours before he shot and wounded a teacher, but the …


Light Earthquake Confirmed in Southern California

26 Jan 2023 20:40


A light earthquake centered offshore gave Southern California an early morning wake-up call Wednesday, the U.S. Geological Survey confirmed. There were no reports of damage. The 2 a.m. quake occurred beneath the ocean 10.6 miles south of Malibu, the USGS …


Elevated Sentry Tournament of Champions Opens PGA 2023 Calendar

26 Jan 2023 17:52


The PGA Tour 2023 calendar year teed off in Kapalua, Hawaii earlier this month with the Sentry Tournament of Champions, sponsored by Sentry Insurance. The tournament marked the first of 13 new elevated PGA Tour events this year with increased …


Swiss Re’s CUO Léger Appointed CEO of SCOR, as Rousseau Steps Down

26 Jan 2023 17:25


The SCOR Board of Directors has appointed Swiss Re’s Chief Underwriting Officer Thierry Léger as chief executive officer of SCOR. Léger will take up his post as CEO of SCOR with effect from May 1, 2023. Léger has 25 years …

        
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