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Archive: August 2024

Beryl-Battered Grenada Becomes 1st Country to Use Government Bond Hurricane Clause
Insurance Journal | August 20, 2024
Beryl-Battered Grenada Becomes 1st Country to Use Government Bond Hurricane Clause
Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster. The move …
Supreme Court Keeps New Rules on Sex Discrimination in Education on Hold
Insurance Journal | August 20, 2024
Supreme Court Keeps New Rules on Sex Discrimination in Education on Hold
The Supreme Court on Friday kept on hold in roughly half the country new regulations about sex discrimination in education, rejecting a Biden administration request. The court voted 5-4, with conservative Justice Neil Gorsuch joining the three liberal justices in …
Ryan Specialty to Acquire Assets of MGU Greenhill From Alera
Insurance Journal | August 20, 2024
Ryan Specialty to Acquire Assets of MGU Greenhill From Alera
Ryan Specialty said it has signed a definitive agreement to acquire certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc. Terms of the deal were not disclosed. Houston-based Greenhill is a technology-enabled managing general underwriter focused on the …
Cops Vow to Avert Risk of Havoc From DNC Protesters Converging in Chicago
Insurance Journal | August 20, 2024
Cops Vow to Avert Risk of Havoc From DNC Protesters Converging in Chicago
Security is always tight at Chicago’s Accenture Tower, a skyscraper that connects to a downtown transportation hub and houses the Israeli consulate. This week it will resemble a fortress. Located less than two miles (3.2 kilometers) from where Vice President …
USAA President, CEO Peacock Retiring in 2025
Insurance Journal | August 20, 2024
USAA President, CEO Peacock Retiring in 2025
USAA announced that its chief executive officer and president, Wayne Peacock will retire during the first half of 2025, after 36 years at the company—serving the last five as CEO. In a letter Peacock sent to USAA teammates yesterday, the …
Upstate Jury Says Harley-Davidson Must Pay $287 Million for Fatal ‘Trike’ Accident
Insurance Journal | August 20, 2024
Upstate Jury Says Harley-Davidson Must Pay $287 Million for Fatal ‘Trike’ Accident
An upstate New York jury has awarded more than $287 million in punitive damages and other compensation to a man and the estate of his deceased girlfriend following a fatal accident involving their Harley-Davidson “trike” motorcycle. The Livingston County Supreme …
One Killed After Natural Gas Pipeline Explodes In Louisiana
Insurance Journal | August 20, 2024
One Killed After Natural Gas Pipeline Explodes In Louisiana
The US Coast Guard is investigating a fatal blast at a natural gas pipeline in Louisiana. A contractor working on a pipeline near South Pass, Louisiana, went missing after an explosion and fire late Saturday, Coast Guard spokesman Ryan Schultz …
CIAB: Clear Evidence of Softening Commercial P/C Market Conditions in Q2
Insurance Journal | August 20, 2024
CIAB: Clear Evidence of Softening Commercial P/C Market Conditions in Q2
Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of Insurance Agents & Brokers (CIAB) quarterly survey. Premiums …
Kansas to Pay $50K Settlement Over a Transgender Highway Patrol Employee’s Firing
Insurance Journal | August 20, 2024
Kansas to Pay $50K Settlement Over a Transgender Highway Patrol Employee’s Firing
TOPEKA, Kan. (AP) — Kansas will pay $50,000 to settle a federal anti-discrimination lawsuit filed by a former state Highway Patrol employee who claimed to have been fired for coming out as transgender. Democratic Gov. Laura Kelly and eight leaders …
Texas Grid Faces Biggest Test of Summer With Extreme Heat
Insurance Journal | August 20, 2024
Texas Grid Faces Biggest Test of Summer With Extreme Heat
Texas is facing its biggest test of the summer this week to keep the power on — and air conditioners running — as temperatures hit triple digits and push electricity consumption to all-time highs. Power use on the state grid …