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Category: Insurance Journal

Crash Involving Speeding Truck in Uvalde, Texas Kills 2, Injures 10
Insurance Journal | September 30, 2022
Crash Involving Speeding Truck in Uvalde, Texas Kills 2, Injures 10
Two people were killed and 10 others injured when a pickup truck crashed into two other vehicles in the Texas city of Uvalde, authorities said. Uvalde Police Chief Daniel Rodriguez said U.S. Border Patrol agents saw the truck speeding Wednesday …
Michigan Train Derailment Sends Several Rail Cars Off Tracks
Insurance Journal | September 30, 2022
Michigan Train Derailment Sends Several Rail Cars Off Tracks
A train derailment sent a dozen rail cars off the tracks Thursday morning near Detroit, snarling traffic while emergency responders assessed the damage, officials said. Warren Mayor Jim Fouts said 12 of the train’s 151 cars derailed about 7:30 a.m. …
Australia’s AUB Completes Acquisition of Lloyd’s Broker Tysers from PE Firm Odyssey
Insurance Journal | September 30, 2022
Australia’s AUB Completes Acquisition of Lloyd’s Broker Tysers from PE Firm Odyssey
Australia’s AUB Group Ltd. (AUB) announced it has completed its acquisition of leading Lloyd’s wholesale broker Tysers from Odyssey Investment Partners. The acquisition, which was first announced in May 2022, has a purchase price of A$880 million (US$570.3 million) with …
California Doctor Prescribing Unneeded Drugs Guilty of Insurance Fraud
Insurance Journal | September 30, 2022
California Doctor Prescribing Unneeded Drugs Guilty of Insurance Fraud
A physician pleaded guilty to defrauding California’s Medi-Cal system by prescribing unnecessary drugs to more than 1,000 patients, prosecutors said. Dr. Mohammed El-Nachef entered pleas in Orange County to one count of insurance fraud and one count of aiding and …
California Governor Approves Farmworker Unionization Law
Insurance Journal | September 30, 2022
California Governor Approves Farmworker Unionization Law
A broadly smiling California Gov. Gavin Newsom joined about two dozen jubilant, cheering farmworkers camped outside the state Capitol this week to sign one of the most contentious bills before him this year, reversing course on a measure to help …
178 Medical Providers from California’s Workers’ Comp System
Insurance Journal | September 30, 2022
178 Medical Providers from California’s Workers’ Comp System
The California Department of Industrial Relations’ Division of Workers’ Compensation and DIR’s Anti-Fraud Unit suspended 178 medical providers during the first eight months of 2022. Providers are suspended from the workers’ compensation system when they have been convicted of fraud-related …
India Regulator to Restart Review Process for IPO of Fairfax’s Digit Insurance: Sources
Insurance Journal | September 30, 2022
India Regulator to Restart Review Process for IPO of Fairfax’s Digit Insurance: Sources
India’s markets regulator will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance issues that had led to the regulator putting the process on hold, two sources told Reuters on …
Storm Noru Brings Floods to Thailand, Forcing 5,000 People to Seek Shelter
Insurance Journal | September 30, 2022
Storm Noru Brings Floods to Thailand, Forcing 5,000 People to Seek Shelter
Water up to waist-high flooded some riverfront neighborhoods and other areas of Thailand on Thursday after a tropical depression dumped heavy rains and knocked down trees, causing at least one death. The heaviest rainfall, about 22 centimeters (8.5 inches) in …
Allianz’s Digital Investments Arm Acquires German Insurtech simplesurance
Insurance Journal | September 30, 2022
Allianz’s Digital Investments Arm Acquires German Insurtech simplesurance
Allianz X, the digital investments arm of Allianz Group, will acquire 100% of the shares in Berlin-based simplesurance. Allianz X has been a strategic investor in the Berlin-based insurtech company since 2016 and most recently expanded its involvement in 2019. …
Arthur J. Gallagher to Acquire M&T Bank’s Insurance Agency of Buffalo
Insurance Journal | September 30, 2022
Arthur J. Gallagher to Acquire M&T Bank’s Insurance Agency of Buffalo
Global insurance broker Arthur J. Gallagher & Co. has agreed to acquire Buffalo, New York-based M&T Insurance Agency, Inc. (MTIA), an indirect subsidiary of M&T Bank Corp. In connection with the transaction, Gallagher said it will become the preferred insurance …