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Antares Announces Leadership Team for New Commercial Division
Antares Global Management Ltd. announced three key appointments for its new Commercial Division, which comprises Syndicate 1274 and Bermuda-based Antares Re. Antares announced in November that it was restructuring its underwriting operations by spitting its Bermuda and UK re/insurance businesses …
POSTED DECEMBER 06, 2024 5:30 PM |
Aviva CEO Amanda Blanc Conquers Detractors and Direct Line
Amanda Blanc is determined to steer Aviva Plc to one of the biggest takeovers in its history, a highlight in a storied insurance career where she’s stood up to challenges including activist shareholders and sexist barbs. If her £3.6 billion …
POSTED DECEMBER 06, 2024 4:30 PM |
UK Issues Red Warning as Storm Darragh Brings Hurricane-Strength Winds
Storm Darragh has triggered a red weather warning for the west coast of Wales and the Bristol Channel on Saturday, with hurricane-force winds forecast. Wind speeds are expected to reach as high as 90 miles (145 kilometers) per hour, according …
POSTED DECEMBER 06, 2024 4:09 PM |
After 23 Years as CEO, Craft Moves to Producer Role at Palomar as Williford Takes Helm
Alabama-based Palomar Insurance, a 70-year-old agency with offices across the state and in Mississippi and Georgia, announced that longtime CEO Tony Craft will step down to be a producer in the company. Replacing Craft at the top is Jim Williford, …
POSTED DECEMBER 06, 2024 3:45 PM |
Insured Losses From Natural Disasters Top US$100B for 5th Consecutive Year: Swiss Re
Estimated insured losses from natural catastrophes are on track to surpass US$100 billion in 2024 – for the fifth consecutive year — and are even likely to hit US$135 billion-plus, according to Swiss Re Institute. Natural disasters are driving an …
POSTED DECEMBER 06, 2024 3:41 PM |
Failure to Produce Proof of Purchase Dooms Insurer’s Product Liability Case
A federal court in Pennsylvania recently affirmed that plaintiffs seeking to hold a seller or distributor liable for a faulty product must provide clear evidence of where they purchased their product. In a homeowners insurance subrogation case over water damage …
POSTED DECEMBER 06, 2024 3:39 PM |
Goldman Sachs Quits Global Climate Coalition for Banks
Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, marking the latest high-profile departure of a U.S. financial firm from the group. The U.S. investment …
POSTED DECEMBER 06, 2024 3:36 PM |
Fraud Ringleader in Washington Sentenced, Ordered to Pay $7.1M in Restitution
A Washington man has been sentenced to a dozen years in prison and ordered to pay $7.1 million for leading a fraud scheme that involved staged collisions. A U.S. District Judge sentenced William Oldham Mize to 144 months in federal …
POSTED DECEMBER 06, 2024 3:04 PM |
Missouri to See Reduction in Workers’ Comp Rates in 2025
The Missouri Department of Commerce and Insurance (DCI) announced that employers should see a reduction in workers’ compensation rates in 2025, marking the fourth straight year of decreased rates. The projected rate reduction is based off preliminary figures collected by …
POSTED DECEMBER 06, 2024 3:04 PM |
Texas Tire Distributor Faces $288K Fine After Forklift Operator’s Death
A U.S. Department of Labor investigation revealed that proper workplace safety training and correct storage of pallets taller than 16 feet could have prevented the fatal injuries suffered by a forklift operator at a tire distribution center in Elm Mott, …
POSTED DECEMBER 06, 2024 2:57 PM |
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