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Archive: May 2024

B&B Adds Georgia-based Public Entities Team in Latest Acquisition
Insurance Journal | May 20, 2024
B&B Adds Georgia-based Public Entities Team in Latest Acquisition
A part of Brown & Brown’s wholesale insurance group has acquired Public Entities of America LLC, a brokerage based in Alpharetta, Georgia, that has catered to the public sector and risk management marketplace. PEA will now be part of Apex …
Florida’s 125% Surge in Property-Insurance Bills Sows Havoc
Insurance Journal | May 20, 2024
Florida’s 125% Surge in Property-Insurance Bills Sows Havoc
For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up. So in March, she finally decided to …
After Loss at Alabama Mercedes Plants, UAW Vows to Regroup and Try Again
Insurance Journal | May 20, 2024
After Loss at Alabama Mercedes Plants, UAW Vows to Regroup and Try Again
TUSCALOOSA, Ala. (AP) — A decisive vote against the United Auto Workers union at two Mercedes factories in Alabama on Friday sidetracked the UAW’s grand plan to sign up workers at nonunion plants mainly in the South. But newly elected …
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Insurance Journal | May 20, 2024
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the 7.7% average increase in Q1 compared to 7% …
Former Executive Alleges Gender Bias, Retaliatory Firing by NEXT Insurance
Insurance Journal | May 20, 2024
Former Executive Alleges Gender Bias, Retaliatory Firing by NEXT Insurance
A former chief corporate officer for NEXT Insurance is accusing the company and its chief executive officer of gender and disability discrimination in the workplace and of firing her in retaliation for her request for medical leave for cancer surgery. …
English Fishing Village Told to Boil Water After Parasite Outbreak Sickens Over 45 People
Insurance Journal | May 20, 2024
English Fishing Village Told to Boil Water After Parasite Outbreak Sickens Over 45 People
A scenic fishing village in southwestern England was under instructions to boil its tap water for a third day on Friday after a parasite sickened more than 45 people in the latest example of Britain’s troubled water system. Around 16,000 …
Zimbabwe to Get Over Half of $60 Million Payout for El Niño-Hit African Nations
Insurance Journal | May 20, 2024
Zimbabwe to Get Over Half of $60 Million Payout for El Niño-Hit African Nations
Zimbabwe will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster …
China-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US Says
Insurance Journal | May 20, 2024
China-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US Says
A China-bound oil tanker in the Red Sea was struck and temporarily disabled by a ballistic anti-ship missile fired by Houthi militants, the US Central Command said. The strike Saturday on the Greek-owned M/T Wind caused flooding that knocked out …
Up to 2,000 Gallons of Oil Spilled into Galveston Bay After Barge Accident
Insurance Journal | May 20, 2024
Up to 2,000 Gallons of Oil Spilled into Galveston Bay After Barge Accident
GALVESTON, Texas (AP) — Early estimates indicate up to 2,000 gallons of oil may have spilled into surrounding waters when a barge carrying fuel broke free from a tugboat and slammed into a bridge near Galveston, Texas, the U.S. Coast …
Nearly All Sanctioned Russian Oil Tankers Remain Idle and Empty Months After Sanctions
Insurance Journal | May 20, 2024
Nearly All Sanctioned Russian Oil Tankers Remain Idle and Empty Months After Sanctions
Dozens of tankers remain stuck doing nothing months after being sanctioned by the Treasury Department — a signal of the US’s scope to disrupt Moscow’s petroleum supply chain if it chooses to. Since October, 40 ships involved in Russia’s oil …