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Economists Say Los Angeles Fire to Have Limited National Economic Impact
Devastating fires in the Los Angeles area are likely to put modest pressure on the U.S. national economy in the near term but are unlikely to derail strong forward momentum, economists say. Forecasters reckon the fires’ destruction of property and …
POSTED JANUARY 16, 2025 6:14 AM |
Generali Near Deal With Natixis for Asset Management Venture
Assicurazioni Generali SpA and Natixis SA are close to a deal for a joint venture in asset management to cut costs and team up on distribution, according to people familiar with the matter. The two firms are still finalizing details …
POSTED JANUARY 16, 2025 6:10 AM |
Florida Appeals Court Upsets Applecart on Workers’ Comp Statute of Limitations
A recent decision and concurring opinion by a Florida appeals court may have upset years of practice and could raise costs for workers’ compensation insurers. Some claims that carriers were once ready to close out of due to the statute …
POSTED JANUARY 16, 2025 6:01 AM |
New York City Lawsuit Against Exxon, BP, Shell Over Climate Change Dismissed
A judge has dismissed New York City’s lawsuit seeking to hold Exxon Mobil, BP and Shell liable for misleading the public about their products, and their commitment to renewable energy and fighting climate change. In a decision on Tuesday, state …
POSTED JANUARY 16, 2025 6:00 AM |
Kuderer Sworn in as Washington Insurance Commissioner
Patty Kuderer was sworn in as Washington’s ninth insurance commissioner on Wednesday. She is one of only 11 elected insurance commissioners in the U.S., and she’s Washington’s first new commissioner in 24 years. Kuderer defeated Republican Phil Fortunato in the …
POSTED JANUARY 16, 2025 6:00 AM |
OSHA Wants Soap Maker to Clean Up Its Act in Response to Chemical Release
A Chambersburg, Pennsylvania soap and detergent manufacturer faces $161,310 in federal penalties after an Occupational Safety and Health Administration (OSHA) investigation of a chemical gas release that sent a dozen workers to the hospital in July 2024. OSHA opened an …
POSTED JANUARY 16, 2025 6:00 AM |
Trucordia Acquires Insurance Business of Boulder Insurance in Colorado
Trucordia acquired the insurance business of Boulder Insurance Solutions in Colorado. Boulder Insurance Solutions is full-service brokerage in serving small- to mid-sized businesses. Trucordia, formerly PCF Insurance Services, is the group name for the brokerage headquartered in Lindon, Utah.
POSTED JANUARY 16, 2025 6:00 AM |
California Expands Moratorium on Homeowners Insurance Cancellations, Non-Renewals
California Insurance Commissioner Ricardo Lara expanded emergency insurance protections for Southern California homeowners, adding new ZIP Codes to those already under a mandatory one-year moratorium on insurance non-renewals and cancellations. The expanded order shields those within the perimeters or adjoining …
POSTED JANUARY 15, 2025 6:13 PM |
People Moves: Lockton Re’s International P/C Division Names Moruzzi, Cope as Senior Brokers; Westfield Specialty Int’l Appoints Nugent, Beltran for Professional Indemnity
This edition of International People Moves details appointments at Lockton Re and Westfield Specialty International. A summary of these new hires follows here. Lockton Re’s International P/C Division Appoints Moruzzi and Cope as Senior Brokers Reinsurance broker Lockton Re announced …
POSTED JANUARY 15, 2025 5:44 PM |
Legacy Specialist Enstar Agrees $196M Loss Portfolio Transfer With Atrium Syndicate
Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced its Lloyd’s syndicate has agreed a ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609, managed by Atrium Underwriters Ltd. The transaction involves Syndicate 609’s discontinued portfolios, comprising marine treaty reinsurance, …
POSTED JANUARY 15, 2025 5:21 PM |
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