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Archive: June 2024

People Moves: Alliant Grows Midwest Benefits Team with Richard as VP, Schmidt as SVP
Insurance Journal | June 10, 2024
People Moves: Alliant Grows Midwest Benefits Team with Richard as VP, Schmidt as SVP
Alliant Insurance Services, headquartered in Irvine, California, expanded its Midwest team by adding Matt Richard as vice president and Tricia Schmidt as senior vice president within its employee benefits group. Richard, based in Kentucky, has more than 20 years of …
US Supreme Court to Hear Facebook Bid to Scuttle Shareholder Lawsuit
Insurance Journal | June 10, 2024
US Supreme Court to Hear Facebook Bid to Scuttle Shareholder Lawsuit
The U.S. Supreme Court agreed on Monday to hear a bid by Meta’s Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data …
Supreme Court Seeks U.S. Government Views on Honolulu Climate Suit Against Oil Companies
Insurance Journal | June 10, 2024
Supreme Court Seeks U.S. Government Views on Honolulu Climate Suit Against Oil Companies
The U.S. Supreme Court on Monday asked President Joe Biden’s administration to offer its views on a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of deceiving the public about climate change. The …
Attempted Bribe Doesn’t Stop Jurors From Convicting Defendants in $40M Fraud Scheme
Insurance Journal | June 10, 2024
Attempted Bribe Doesn’t Stop Jurors From Convicting Defendants in $40M Fraud Scheme
MINNEAPOLIS (AP) — A jury convicted five Minnesota residents and acquitted two others on Friday for their roles in a scheme to steal more than $40 million from a program that was supposed to feed children during the coronavirus pandemic. …
Financiers Plan to Launch Texas Stock Exchange
Insurance Journal | June 10, 2024
Financiers Plan to Launch Texas Stock Exchange
DALLAS (AP) — A group of financial firms and investors is planning to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq. The group, which includes BlackRock, Citadel Securities …
Austin Flood Mitigation Makes Residents Eligible for 25% Insurance Discount
Insurance Journal | June 10, 2024
Austin Flood Mitigation Makes Residents Eligible for 25% Insurance Discount
Austin residents can now receive up to a 25% discount on their flood insurance thanks to the city’s upgraded Community Rating System score from the Federal Emergency Management Agency (FEMA). Last month, FEMA notified the City of Austin that it …
North Carolina Commissioner Lands on 8% Rate Increase for Dwelling Policies
Insurance Journal | June 10, 2024
North Carolina Commissioner Lands on 8% Rate Increase for Dwelling Policies
North Carolina Insurance Commissioner Mike Causey has settled on an 8% average rate increase for dwelling insurance policies, starting Nov. 1. The North Carolina Rate Bureau, basing its request on data from property insurers, last summer had urged an average …
US Chamber of Commerce: Nuclear Verdicts’ Amount, Frequency Continue to Increase
Insurance Journal | June 10, 2024
US Chamber of Commerce: Nuclear Verdicts’ Amount, Frequency Continue to Increase
A recent report from The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has found that nuclear verdicts of $10 million or more are on the rise. Looking at verdicts from 2013 to 2022, ILR said the median nuclear …
California’s Capital Will See Temperatures Above 100F This Week
Insurance Journal | June 10, 2024
California’s Capital Will See Temperatures Above 100F This Week
California’s Central Valley will have another round of searing temperatures that will boost energy demand this week, reaching a high of 103F (39C) in Sacramento on Tuesday. A heat advisory is in place for the state capital through Wednesday night, …
People Moves: AXA XL Promotes Pearman to New Role of CUO, Bermuda; Lockton Re Taps Former Aon Execs for Marine & Energy Division, Lloyd’s Capital Unit
Insurance Journal | June 10, 2024
People Moves: AXA XL Promotes Pearman to New Role of CUO, Bermuda; Lockton Re Taps Former Aon Execs for Marine & Energy Division, Lloyd’s Capital Unit
This edition of International People details appointments at AXA XL and Lockton Re. A summary of these new hires follows here. AXA XL Promotes Pearman to New Role of Chief Underwriting Officer, Bermuda As part of its recently announced insurance …