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Insurance Journal | November 9, 2023

Russian Missile Strike on Merchant Ship Threatens Ukraine’s Exports

A Russian missile strike on a commercial ship at a major Ukrainian Black Sea port is adding to risks for commodity exports just as farmers in the war-battered nation are in the midst of this year’s harvest. A 750-feet iron …

Insurance Journal | November 9, 2023

Court Revives Retaliation Claim by Syracuse University Student Who Reported Sexual Assault

Syracuse University must face a claim by a female student who alleges school officials retaliated against her after she filed a sexual assault complaint against a male athlete. A federal district court in September 2022 dismissed Jane Doe’s deliberate indifference, …

Insurance Journal | November 1, 2023

Four Minnesota Men Indicted in Multi-Million-Dollar Scheme to Transport Stolen Catalytic Converters

MINNEAPOLIS (AP) – Federal officials have charged four Minnesota men in a multi- million-dollar scheme to transport stolen catalytic converters to buyers in several states. U.S. Attorney Andrew M. Luger in Minneapolis announced the indictments Tuesday. All four men are …

Insurance Journal | November 1, 2023

Patriot Growth Acquires Ohio’s Douce James Agency

Patriot Growth Insurance Services, LLC (Patriot), one of the nation’s largest and fastest-growing insurance services firms, expanded its presence in Ohio and Pennsylvania with its partnership with the Douce James Agency. This partnership adds additional property and casualty expertise to …

Insurance Journal | November 1, 2023

Missouri Manufacturer Agrees to Settle Discrimination Suit

Tapco Inc, a manufacturer and molder of farm equipment in Bridgeton, Missouri, agreed to conciliate two federal discrimination charges alleging sexual harassment and constructive discharge with the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. According to the charges, …

Insurance Journal | November 1, 2023

Bank Completes Sale of Eastern Insurance to Gallagher

Eastern Bankshares, Inc., the stock holding company for Eastern Bank, has completed the previously disclosed sale of its insurance operations, which conduct business as Eastern Insurance Group, to Arthur J. Gallagher & Co. Under the agreement, Gallagher acquired Eastern Insurance …

Insurance Journal | November 1, 2023

UK’s Ardonagh Acquires Commercial Broker for SMEs in Switzerland

The Ardonagh Group, the London-based independent insurance distribution platform, has agreed to acquire ASSEPRO, the largest independent commercial broker for small and medium-sized enterprises (SMEs) in Switzerland, with operations in Austria and Liechtenstein. Ardonagh will fund the transaction with a …

Insurance Journal | November 1, 2023

Whistleblower Says Southern Co. Should Repay $382M for Failed Clean Coal Plant

(AP) — A former employee is suing to force a Mississippi utility to repay $382 million that the federal government gave to build a failed coal- fueled power plant. Kelli Williams, a former construction manager for Atlanta-based Southern Co., filed …

Insurance Journal | November 1, 2023

Insurtech Layr Closes $10M Funding to Expand Reach for Brokerage Platform

Layr, an Atlanta-based insurtech that promises to digitize insurance brokerage operations, said it has raised $10 million to expand operations, marketing and functionality. “One of every four dollars in the GDP goes through the insurance industry,” yet the industry is …

Insurance Journal | November 1, 2023

RenRe Completes $3.3 Billion Acquisition of Validus Re From AIG

RenaissanceRe Holdings Ltd. announced it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group. AIG received total consideration of $3.3 billion in cash, including a pre-closing dividend, and approximately $275 million in RenaissanceRe common …