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Archive: August 2024

Howden to Acquire Allianz UK’s Musical Insurance Book
Insurance Journal | August 1, 2024
Howden to Acquire Allianz UK’s Musical Insurance Book
Howden, the global insurance intermediary group, today announces that it has agreed to acquire the Musical Insurance book from Allianz UK and will incorporate its customer base and marketing and operations teams into Howden’s established music scheme, Lark Music. Financial …
Markets/Coverages: Coalition Introduces Active Cyber Insurance in Germany
Insurance Journal | August 1, 2024
Markets/Coverages: Coalition Introduces Active Cyber Insurance in Germany
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced the launch of its Active Cyber Insurance in Germany through its subsidiary, Coalition Insurance Solutions GmbH. Coalition’s offerings became available on Aug. 1, 2024. Cyberattacks and IT system …
UK Financial Firms Spur IPO Optimism as Europe Rebound Stutters
Insurance Journal | August 1, 2024
UK Financial Firms Spur IPO Optimism as Europe Rebound Stutters
Potential initial public offerings by a slew of UK financial services firms could drive the next stage of Europe’s recovery after momentum in new listings slowed sharply. Such hopes have arisen after Bloomberg reported that backers of Canopius Group are …
Arch Completes Acquisition of Allianz’s U.S. MidCorp and Entertainment Businesses
Insurance Journal | August 1, 2024
Arch Completes Acquisition of Allianz’s U.S. MidCorp and Entertainment Businesses
Arch Insurance North America it has closed the acquisition of the U.S. MidCorp and Entertainment insurance businesses from Allianz. Nearly 500 former Allianz MidCorp and Entertainment employees have joined Arch and will provide continuity to clients and brokers as Arch …
Ardonagh’s Geo Underwriting to Acquire Navigators & General
Insurance Journal | August 1, 2024
Ardonagh’s Geo Underwriting to Acquire Navigators & General
Geo Underwriting, the managing general agency and subsidiary of Ardonagh Advisory, announced it will acquire Navigators & General (N&G) from Zurich UK. Financial details of the deal were not disclosed. Founded in 1921 by Captain William Coombs, a merchant navy …
District of Columbia Sues StubHub Claiming It Inflates Ticket Prices With Deceptive Fees
Insurance Journal | August 1, 2024
District of Columbia Sues StubHub Claiming It Inflates Ticket Prices With Deceptive Fees
The attorney general for Washington, D.C., sued StubHub on Wednesday, accusing the ticket resale platform of advertising deceptively low prices and then ramping up prices with extra fees. The practice known as “drip pricing” violates consumer protection laws in the …
Hurricane Would Blow Through Florida Cat Fund’s Reserves. But That May be OK, Report Says
Insurance Journal | August 1, 2024
Hurricane Would Blow Through Florida Cat Fund’s Reserves. But That May be OK, Report Says
A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s reserves, potentially forcing it to place a small surcharge on Florida insurance premiums to finance more debt. But that may …
Missouri Trucking Company Sued for Refusing to Hire a Deaf Job Applicant
Insurance Journal | August 1, 2024
Missouri Trucking Company Sued for Refusing to Hire a Deaf Job Applicant
The U.S. Equal Employment Opportunity Commission (EEOC) sued Missouri- based trucking company Transportation Management Group, doing business as Wilson Logistics, for violating federal law when it refused to hire a deaf job applicant because of his disability. According to the …
Symphony Risk Opens Austin Office, Names Burns President of Specialty Business
Insurance Journal | August 1, 2024
Symphony Risk Opens Austin Office, Names Burns President of Specialty Business
Symphony Risk Solutions announced it is opening an office in Austin, Texas to be led by Matt Burns, who was named president of the firm’s growing specialty business. As the leader of Symphony Build, Burns will oversee due diligence, evaluation, …
Officials Cleaning Up Oil Spill in Southern Louisiana Parish
Insurance Journal | August 1, 2024
Officials Cleaning Up Oil Spill in Southern Louisiana Parish
NEW ORLEANS (AP) — A storage tank spilled tens of thousands of gallons of crude oil in a southern Louisiana parish, threatening drinking water and wildlife as officials work to clean it up. The storage tank spilled Saturday morning southwest …