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Archive: January 2023

Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Insurance Journal | January 10, 2023
Insurance Pricing: True D&O Buyer’s Market; Stabilized Commercial Auto
Insurance brokerage USI is forecasting that half of 32 commercial insurance product lines analyzed will experience softer pricing in the first half of 2023—including a predicted “buyer’s market” for directors and officers liability with some caveats. Comparing USI’s forecasts for …
Root Investigating at Least $9.5M Unauthorized Payments by Former Employee
Insurance Journal | January 10, 2023
Root Investigating at Least $9.5M Unauthorized Payments by Former Employee
Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, is conducting an internal investigation into a series of payments made without prior disclosure to the company’s management by a former senior marketing employee last year. The transactions …
Alera Group Continues SE Expansion with Sutter McLellan Agency in Georgia
Insurance Journal | January 10, 2023
Alera Group Continues SE Expansion with Sutter McLellan Agency in Georgia
Alera Group, a national property insurance and benefits firm, has acquired Atlanta area-based Sutter, McLellan & Gilbreath, a full-service agency. Terms of the deal were not disclosed. The move will expand Alera’s presence in the Southeast. Sutter McLellan, headquartered in …
Pennsylvania Gov. Wolf Seeks Child Sex Abuse Claim Window
Insurance Journal | January 10, 2023
Pennsylvania Gov. Wolf Seeks Child Sex Abuse Claim Window
]Pennsylvania’s new state House speaker declared Friday that no other legislation will pass his chamber until it approves a constitutional amendment granting child sexual abuse victims the power to file what would otherwise be outdated claims. House Speaker Mark Rozzi, …
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Insurance Journal | January 10, 2023
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent. …
People Moves: McGriff Appoints 2 Leaders for Texas Operations
Insurance Journal | January 9, 2023
People Moves: McGriff Appoints 2 Leaders for Texas Operations
McGriff Appoints Two New Leaders for Texas Operations McGriff, headquartered in Charlotte, North Carolina, has hired two insurance industry veterans for new leadership positions in its Texas operations. David Garrett joins McGriff as executive vice president and Texas practice leader …
Oil Worker Dies After Falling Into North Dakota Pit
Insurance Journal | January 9, 2023
Oil Worker Dies After Falling Into North Dakota Pit
BISMARCK, N.D. (AP) – A worker from Texas is dead after falling at an oil rig site in North Dakota. Daniel Navarrete, 42, of New Braunfels, Texas, fell through an open hatch Thursday in a pit at a Nabors Industries …
Wisconsin GOP Lawmakers Move Closer to Legalizing Medical Marijuana
Insurance Journal | January 9, 2023
Wisconsin GOP Lawmakers Move Closer to Legalizing Medical Marijuana
MADISON, Wis. (AP) – Republican lawmakers who control the Wisconsin Legislature are moving closer to supporting the legalization of medical marijuana, after years of fighting efforts to loosen the state’s laws, the GOP leader of the state Senate said Thursday. …
Texas’ Combined Agents of America Adds 24 Partner Agencies
Insurance Journal | January 9, 2023
Texas’ Combined Agents of America Adds 24 Partner Agencies
Combined Agents of America (CAA) – a privately held aggregator group based in Austin, Texas – announced the additions of 23 new partner agencies to the organization. The group will now be comprised of 94 agencies across nine states and …