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Archive: March 2024

Ryan Specialty Q4 Net Income Up 28% on E&S Expansion
Insurance Journal | March 1, 2024
Ryan Specialty Q4 Net Income Up 28% on E&S Expansion
Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year, while full year …
Boat Rental Protection, Direct-Action Truck Bills Moving Forward in Georgia Assembly
Insurance Journal | March 1, 2024
Boat Rental Protection, Direct-Action Truck Bills Moving Forward in Georgia Assembly
Georgia legislation that could have a significant impact on insurance litigation and losses for transportation-related businesses are moving forward in the state General Assembly. The Georgia House of Representatives late last month approved House Bill 994, which would give some …
Supreme Court Opinion on Maritime Law Solidifies Insurer’s Choice-of-Law Clause
Insurance Journal | March 1, 2024
Supreme Court Opinion on Maritime Law Solidifies Insurer’s Choice-of-Law Clause
A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state insurance …
Texas Fires Trigger Drop for Xcel With Law Firm Alleging Link
Insurance Journal | March 1, 2024
Texas Fires Trigger Drop for Xcel With Law Firm Alleging Link
The worst-ever Texas wildfire sent shares of Xcel Energy Inc. plunging after a law firm said it might be linked to the disaster, the latest sign that potential ties between power companies and blazes are triggering volatility in once-sleepy utility …
Miami Beach Office Asking for Top Rent Signs First Tenant
Insurance Journal | March 1, 2024
Miami Beach Office Asking for Top Rent Signs First Tenant
New York-based hedge fund J. Goldman & Co. signed a lease at a new Miami Beach office building that’s seeking some of the highest rents ever seen in the market. J. Goldman agreed to take roughly 10,000 square feet (929 …
Sisters of Man Fatally Shot by Police in Chicago Suburb File Federal Lawsuit
Insurance Journal | March 1, 2024
Sisters of Man Fatally Shot by Police in Chicago Suburb File Federal Lawsuit
CHICAGO (AP) — The sisters of a man fatally shot in his home this month by suburban Chicago police filed a federal lawsuit Wednesday against the officers and their department, alleging wrongful death and other counts. Kyenna McConico and Kennetha …
Firefighters Race to Subdue Texas Wildfire Before Dangerous Weekend Conditions
Insurance Journal | March 1, 2024
Firefighters Race to Subdue Texas Wildfire Before Dangerous Weekend Conditions
FRITCH — A blanket of snow and rain that descended over the Texas Panhandle on Thursday helped firefighters to quell the spread of the largest wildfire in the state’s history, which has engulfed more than 1 million acres of land …
NTSB Report Casts Doubt That Truck’s Steering Locked in Crash That Killed Arizona Cyclists
Insurance Journal | March 1, 2024
NTSB Report Casts Doubt That Truck’s Steering Locked in Crash That Killed Arizona Cyclists
A newly released report on a fatal crash involving a pickup truck and a group of cyclists last year near Phoenix, Ariona, casts doubt about the driver’s claim that the vehicle’s steering locked up. The National Transportation Safety Board released …
New York’s High Court Broadens ‘Foreign Substances’ That Cause Slippery Surfaces
Insurance Journal | March 1, 2024
New York’s High Court Broadens ‘Foreign Substances’ That Cause Slippery Surfaces
New York’s highest court has put contractors and property owners on notice that they are responsible for slippery surfaces caused by substances that might be very different than the substances they typically worry about as creating a slip and fall …
People Moves: Marsh McLennan Names Liston US, Canada Chief Commercial Officer
Insurance Journal | March 1, 2024
People Moves: Marsh McLennan Names Liston US, Canada Chief Commercial Officer
Marsh McLennan, headquartered in New York, appointed David Liston as U.S. and Canada chief commercial officer (CCO) effective immediately. Liston previously served as Marsh U.S. and Canada corporate segment leader, and recently had an expanded role across Marsh and Mercer, …