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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 …
POSTED APRIL 23, 2024 1:34 PM |
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, …
POSTED APRIL 23, 2024 1:23 PM |
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 …
POSTED APRIL 23, 2024 1:18 PM |
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 …
POSTED APRIL 23, 2024 1:10 PM |
South Carolina Allows Out-of-State Adjusters After Massive Hail Storm In the wake of last week’s widespread hail storm that damaged homes and automobiles, the South Carolina director of insurance said that emergency rules allow out-of-state adjusters and appraisers to work claims, as long as they are licensed in other …
POSTED APRIL 23, 2024 12:34 PM |
W.R. Berkley Reports 50.4% Increase in Q1 Net Income First quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million. The Greenwich, Connecticut-based commercial insurer started 2024 …
POSTED APRIL 23, 2024 12:30 PM |
Delaware High Court Hands Agency a New Shot at Malpractice Claim Against Law Firm A Delaware insurance agency has won another chance at proving a law firm was negligent in defending it in a non-compete dispute with another agency, a dispute it ended up settling for $1.2 million. The Delaware Supreme Court has reversed …
POSTED APRIL 23, 2024 12:14 PM |
Munich Re Says Beating Target More Likely After Strong Quarter Munich Re said it might beat its profit target for the year after first-quarter profit jumped amid benign expenditures to cover major losses and a strong investment result. Net income rose to about €2.1 billion ($2.2 billion) in the three …
POSTED APRIL 23, 2024 11:18 AM |
Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first, building-specific, sensor-based, parametric earthquake re/insurance product to clients globally. …
POSTED APRIL 23, 2024 11:05 AM |
Musk Decries Australian Court ‘Censorship’ of Terror Posts on X Elon Musk lashed out at Australia’s prime minister on Tuesday after a court ordered his social media company X take down footage of an alleged terrorist attack in Sydney, and said the ruling meant any country could control “the entire …
POSTED APRIL 23, 2024 10:07 AM |
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