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Archive: July 2024

Arthur K. Gallagher & Co. Acquires Texas’ Zayla Partners
Insurance Journal | July 1, 2024
Arthur K. Gallagher & Co. Acquires Texas’ Zayla Partners
Arthur J. Gallagher & Co. announced the acquisition of Katy, Texas-based Zayla Partners, LLC (Zayla). Terms of the transaction were not disclosed. Zayla is an executive compensation strategy firm that serves clients across a variety of sizes and industries. Chris …
Maui Officials Highlight Steps Toward Rebuilding As 1-Year Mark of Deadly Wildfire Approaches
Insurance Journal | July 1, 2024
Maui Officials Highlight Steps Toward Rebuilding As 1-Year Mark of Deadly Wildfire Approaches
Nearly a year after wind-whipped flames raced through Kim Ball’s Hawaii community, the empty lot where his house once stood is a symbol of some of the progress being made toward rebuilding after the deadliest U.S. wildfire in more than …
Fidelis Partnership Syndicate 3123 Begins Underwriting Business at Lloyd’s
Insurance Journal | July 1, 2024
Fidelis Partnership Syndicate 3123 Begins Underwriting Business at Lloyd’s
The Fidelis Partnership and Fidelis Insurance Holdings Ltd. jointly announced that Syndicate 3123 has formally begun underwriting business at Lloyd’s. Syndicate 3123, also known as The Fidelis Partnership Syndicate, was launched by The Fidelis Partnership in collaboration with Fidelis Insurance …
Uber and Lyft Agree to Higher Wages, Work-Accident Insurance in Mass. Settlement
Insurance Journal | July 1, 2024
Uber and Lyft Agree to Higher Wages, Work-Accident Insurance in Mass. Settlement
BOSTON (AP) — Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour and will be eligible for occupational accident insurance paid by the companies for up to $1 million for work-related injuries under a …
Minivan Slams into Long Island Nail Salon, Killing 4, Injuring 9
Insurance Journal | July 1, 2024
Minivan Slams into Long Island Nail Salon, Killing 4, Injuring 9
A minivan slammed into a Long Island nail salon Friday, killing four and injuring nine people inside the business at the time, a Suffolk County fire official said. The vehicle came to a stop at the back of the Hawaii …
Cyber Insurance Rates Drop as Businesses Improve Security, Report Says
Insurance Journal | July 1, 2024
Cyber Insurance Rates Drop as Businesses Improve Security, Report Says
Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cyber-attacks rocketed in …
Markerstudy Completes Purchase of Ardonagh’s Personal Lines Broking Business
Insurance Journal | July 1, 2024
Markerstudy Completes Purchase of Ardonagh’s Personal Lines Broking Business
Markerstudy, the UK insurance group, has completed the purchase of the Ardonagh Group’s personal lines broking business, Atlanta Group, in a deal that was first announced in September 2023. While financial details of the transaction were not disclosed, the Atlanta …
Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
Insurance Journal | July 1, 2024
Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan Specialty and …
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
Insurance Journal | July 1, 2024
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …
US Roof Maintenance Lags: Hanover
Insurance Journal | July 1, 2024
US Roof Maintenance Lags: Hanover
More than half of U.S. homeowners did not check their roofs for issues between February 2023 and 2024, according to a recent report by The Hanover Insurance Group. Only 38% of survey respondents reported checking for roof issues — including …