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NC Commissioner Fires Top Fire Marshal Officials as Feud with Lawmakers Continues
Insurance Journal | November 1, 2023
NC Commissioner Fires Top Fire Marshal Officials as Feud with Lawmakers Continues
North Carolina Insurance Commissioner Mike Causey appears to have escalated a feud with lawmakers, firing three officials at the state fire marshal’s office after legislation stripped Causey of the marshal’s job. Causey, insurance commissioner since 2017, recently sent a top …
Global Insurance Prices Continue to Stabilize in Q3 as US Cyber Premiums Drop: Marsh
Insurance Journal | November 1, 2023
Global Insurance Prices Continue to Stabilize in Q3 as US Cyber Premiums Drop: Marsh
Global commercial insurance prices increased 3% in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index released by the insurance broker Marsh, a business of Marsh McLennan. The third quarter marks …
Verisk Tops Q3 Expectations on Resilient Demand From Insurers
Insurance Journal | November 1, 2023
Verisk Tops Q3 Expectations on Resilient Demand From Insurers
Verisk Analytics beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk. The data analytics company’s products cater to insurers across sectors ranging from real estate to manufacturing. Insurance company …
Southern California Wildfire Prompts Evacuation Order for Thousands as Winds Fuel Flames
Insurance Journal | November 1, 2023
Southern California Wildfire Prompts Evacuation Order for Thousands as Winds Fuel Flames
A wildfire fueled by Santa Ana winds ripped through rural land southeast of Los Angeles, forcing about 4,000 people from their homes, fire authorities said. The Highland Fire erupted at about 12:45 p.m. Monday in dry, brushy hills near the …
Bayer Ordered to Pay $332M in Another Roundup Cancer Trial
Insurance Journal | November 1, 2023
Bayer Ordered to Pay $332M in Another Roundup Cancer Trial
A California jury on Tuesday found Bayer liable in a case brought by a man who claimed his cancer was due to exposure to the company’s Roundup weed killer, and ordered it to pay $332 million in damages. The verdict …
Trump Children to Testify in New York Civil Trial
Insurance Journal | November 1, 2023
Trump Children to Testify in New York Civil Trial
Ivanka Trump’s testimony at her father’s New York civil fraud trial is being delayed until next week so there is sufficient time for her to be questioned, a judge said Monday. Former President Donald Trump’s eldest daughter had been set …
Bayer Investor Calls for Rethink After Latest Glyphosate Defeat
Insurance Journal | November 1, 2023
Bayer Investor Calls for Rethink After Latest Glyphosate Defeat
Bayer investor Union Investment said on Wednesday the German group should reconsider its litigation strategy for glyphosate after it lost a trial over the weed killer’s alleged carcinogenic effects for a third time in a row. A California jury on …
China Eases Investment Rules for Insurers in Bid to Boost Flows Into Stocks
Insurance Journal | November 1, 2023
China Eases Investment Rules for Insurers in Bid to Boost Flows Into Stocks
China has taken a move that effectively allows insurance firms to make longer-term investment in shares, adding to a drumbeat of support measures to revitalize the country’s stock market. The Ministry of Finance will from now on evaluate insurers’ return …
Insurance Premiums Are Big Driver of Australian Inflation
Insurance Journal | November 1, 2023
Insurance Premiums Are Big Driver of Australian Inflation
Australian inflation is being driven by climate change, geopolitical shocks and government policies — factors typically beyond the Reserve Bank’s control. Yet economists still anticipate it will have to respond with monetary tightening as soon as next week. In a …
NFP Acquires Ireland-Based Health and Safety Consultancy, SeaChange Ltd.
Insurance Journal | November 1, 2023
NFP Acquires Ireland-Based Health and Safety Consultancy, SeaChange Ltd.
NFP, a New York City-based property/casualty broker, announced it has acquired SeaChange Ltd., a health and safety consultancy based in Naas, County Kildare, in Ireland. This acquisition expands NFP’s European health and safety capabilities and solutions for the company’s Irish, …