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Category: Insurance Journal

Insurtech Root Says it Has No ‘Actionable’ Bid
Insurance Journal | June 30, 2023
Insurtech Root Says it Has No ‘Actionable’ Bid
Root Inc. said Thursday that it does not currently have an actionable bid for its acquisition after reports that it received a bid from Embedded Insurance. The Columbus, Ohio-based parent company of Root Insurance said its board “has always considered …
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters
Insurance Journal | June 30, 2023
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters
Insurer GEICO has agreed to pay $805,000 total to settle class action lawsuits by claims adjusters alleging they were entitled to unpaid wages for overtime worked between May 27, 2019 and May 27, 2022. The settlement affects 91 plaintiffs involved …
Fidelis Insurance Valued at $1.5 Billion in Lukewarm Market Debut
Insurance Journal | June 30, 2023
Fidelis Insurance Valued at $1.5 Billion in Lukewarm Market Debut
Fidelis Insurance Holdings notched a valuation of $1.5 billion on Thursday after shares of the reinsurer fell 6.4% on debut. The company joins a list of firms that have gone public this year as the IPO market gains momentum following …
WHO Cancer Research Arm to Say Aspartame Sweetener a Possible Carcinogen: Sources
Insurance Journal | June 30, 2023
WHO Cancer Research Arm to Say Aspartame Sweetener a Possible Carcinogen: Sources
One of the world’s most common artificial sweeteners is set to be declared a possible carcinogen next month by a leading global health body, according to two sources with knowledge of the process, pitting it against the food industry and …
French, UK Cyber Watchdogs Say Hackers-for-Hire Are Targeting Law Firms
Insurance Journal | June 30, 2023
French, UK Cyber Watchdogs Say Hackers-for-Hire Are Targeting Law Firms
Mercenary hackers increasingly are targeting law firms in a bid to steal data that could tip the balance in legal cases, French and British authorities say, echoing a Reuters investigation that uncovered the phenomenon last year. In a pair of …
IIHS: Safety Concerns for Small Pickup Rear Seated Passengers
Insurance Journal | June 30, 2023
IIHS: Safety Concerns for Small Pickup Rear Seated Passengers
The latest crash tests by the Insurance Institute for Highway Safety reveals most small pickups fall short when it comes to rear seated passengers. “Our updated moderate overlap front crash test proved to be challenging for small pickups,” said IIHS …
Gallagher’s June Insurance Market Report: Key Highlights and Implications for Buyers
Insurance Journal | June 30, 2023
Gallagher’s June Insurance Market Report: Key Highlights and Implications for Buyers
How does the 2023 insurance market look so far? It depends on where you stand. Property is facing its most challenging market in 20 years. But D&O rates are down after spiking in 2020. Cyber is evolving to limit exposure. …
Starting July 1, Florida Insurers Face New Guardrails on Forced-Placed Insurance
Insurance Journal | June 30, 2023
Starting July 1, Florida Insurers Face New Guardrails on Forced-Placed Insurance
Starting Saturday, insurers and mortgage lenders for Florida homeowners will face some new restrictions on lender-placed insurance policies, thanks to a bill approved by state lawmakers this year. House Bill 793 takes effect July 1 and it bars what some …
People Moves: McGriff Names Ledford Strategic Growth Officer
Insurance Journal | June 30, 2023
People Moves: McGriff Names Ledford Strategic Growth Officer
The insurance broker McGriff, part of Carolina-based Truist Insurance Holdings, has hired Rodney Ledford as strategic growth officer for its small business and personal lines division. Ledford has 18 years of experience in the lines, most recently as vice president …
Talk With Fox’s Jesse Watters Leads to Big I CEO Rusbuldt’s ‘Disappointing’ Early Exit
Insurance Journal | June 29, 2023
Talk With Fox’s Jesse Watters Leads to Big I CEO Rusbuldt’s ‘Disappointing’ Early Exit
Bob Rusbuldt — set to retire in about two months as chief executive of the Independent Insurance Agents and Brokers of America (The Big I) — was relinquished of his duties after a conversation he had with Fox News Host …