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Archive: December 2022

Amwins Buys Franklin Street’s Arena Special Risks Wholesale Book
Insurance Journal | December 1, 2022
Amwins Buys Franklin Street’s Arena Special Risks Wholesale Book
Amwins, an international distributor of specialty insurance products, has purchased Atlanta-based Arena Special Risks’ wholesale business from Franklin Street. The move will allow Franklin Street to concentrate on retail insurance for the real estate market, the company said in a …
Hurricane Ian Drives Year-to-Date Insured Losses of $115B From Natural Disasters
Insurance Journal | December 1, 2022
Hurricane Ian Drives Year-to-Date Insured Losses of $115B From Natural Disasters
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost insurers an estimated $115 billion so far this year, according to a report published by Swiss Re …
PCF Insurance Services Acquires Georgia-based VB@Work
Insurance Journal | December 1, 2022
PCF Insurance Services Acquires Georgia-based VB@Work
PCF Insurance Services, one of the larger brokerage firms in the country, has acquired Georgia-based Voluntary Benefits at Work. VB@Work, as it is abbreviated, said it designs employee benefits packages that minimize client administrative overhead. The merger will expand VB’s …
Hawaii Volcano Eruption Has Some on Alert, Draws Onlookers
Insurance Journal | December 1, 2022
Hawaii Volcano Eruption Has Some on Alert, Draws Onlookers
The first eruption in 38 years of the world’s largest active volcano is attracting onlookers to a national park for “spectacular” views of the event, and it’s also dredging up bad memories among some Hawaii residents who have been through …
Vet’s California Lawsuit Blaming Antimalarial Drug For Psychosis Tossed
Insurance Journal | December 1, 2022
Vet’s California Lawsuit Blaming Antimalarial Drug For Psychosis Tossed
– A federal judge threw out a lawsuit against the maker of an anti-malarial drug blamed for causing psychotic behavior and neurological damage to U.S. servicemembers, ruling that the case had no right to be filed in California. The proposed …
Harvard to Appeal Missed Insurance Claim Deadline Ruling That Cost It $15M
Insurance Journal | December 1, 2022
Harvard to Appeal Missed Insurance Claim Deadline Ruling That Cost It $15M
Harvard University has signaled its intention to appeal last month’s federal court ruling that cost it as much as $15 million for failing to notify its insurer of its claim by the policy deadline. The law firm Anderson Kill on …
K2 Insurance Services Announces New Private Equity Partner
Insurance Journal | December 1, 2022
K2 Insurance Services Announces New Private Equity Partner
K2 Insurance Services, an independent specialty insurance program manager, announced that Warburg Pincus, a global growth investor, has agreed to acquire the company from Lee Equity Partners LLC, a middle market private equity firm. According to K2, the investment will …
UK ‘Just Getting Started’ on Post-Brexit Boost to London’s Competitiveness: Minister
Insurance Journal | December 1, 2022
UK ‘Just Getting Started’ on Post-Brexit Boost to London’s Competitiveness: Minister
Britain is just at the beginning of post-Brexit efforts to keep London a top global financial center, but deregulation will be selective to ensure high standards are kept, financial services minister Andrew Griffith said on Thursday. Finance represents one in …
People Moves: Convex Re Bermuda Names AXA XL’s Simons Deputy CEO, Promotes Slater to CUO; AGCS Promotes Zschech to Head of Industry Solutions & Client Mgmt
Insurance Journal | December 1, 2022
People Moves: Convex Re Bermuda Names AXA XL’s Simons Deputy CEO, Promotes Slater to CUO; AGCS Promotes Zschech to Head of Industry Solutions & Client Mgmt
This edition of International People Moves details appointments at Convex Re Bermuda and Allianz Global Corporate & Specialty (AGCS). A summary of these new hires follows here. Convex Group Ltd., the London-based international specialty re/insurer, announced that Convex Re Bermuda …
Google Sued in UK by 130,000 Alleged Victims of Its Online Advertising Dominance
Insurance Journal | December 1, 2022
Google Sued in UK by 130,000 Alleged Victims of Its Online Advertising Dominance
Google and its parent Alphabet Inc. were sued in a UK court over alleged antitrust abuses in a group claim by 130,000 businesses that argues the tech giant’s approach to advertising that may have cost companies billions of pounds in …