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Category: Insurance Journal

Aon: Business Leaders Say Recession Looms; What Sets Prepared Companies Apart?
Insurance Journal | November 1, 2022
Aon: Business Leaders Say Recession Looms; What Sets Prepared Companies Apart?
Despite a majority of global business leaders expecting a recession within the next year, many still have a positive outlook on the economy. Some leaders even reported feeling very prepared heading into a recession. That’s according to Aon’s 2022 Executive …
Wells Fargo Says SEC Is Examining its Hiring Practices
Insurance Journal | November 1, 2022
Wells Fargo Says SEC Is Examining its Hiring Practices
Wells Fargo & Co said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed with the SEC, the fourth-largest …
Exclusion Wording Not Clear, Florida Appeals Court Says in Air Quality Case
Insurance Journal | November 1, 2022
Exclusion Wording Not Clear, Florida Appeals Court Says in Air Quality Case
Despite repeated references to “water damage,” the ambiguous wording of a policy exclusion by Southern-Owners Insurance Co. does not necessarily bar those types of claims, a Florida appeals court found in a win for a well-known mold testing firm. “While …
State Inspector Cites Regulatory Lapses in Fatal New York Limo Crash
Insurance Journal | November 1, 2022
State Inspector Cites Regulatory Lapses in Fatal New York Limo Crash
New York regulators failed to do all they could to sideline a poorly maintained stretch limousine that careened down a hill and crashed in 2018, killing 20 people, according to a state watchdog. State Inspector General Lucy Lang released a …
Arthur J. Gallagher & Co. Acquires Minnesota’s f3 Companies
Insurance Journal | October 31, 2022
Arthur J. Gallagher & Co. Acquires Minnesota’s f3 Companies
Arthur J. Gallagher & Co. announced the acquisition of the f3 Companies. Terms of the transaction were not disclosed. Included in the acquisition are Burnsville, Minnesota-based f3Logic, LLC; Burnsville, Minnesota-based f3Investment Management, LLC; Richmond, Virginia-based Financial Consultants of America, Inc.; …
Oklahoma House Fires Leaves 8 Dead
Insurance Journal | October 31, 2022
Oklahoma House Fires Leaves 8 Dead
BROKEN ARROW, Okla. (AP) – Eight people were found dead in a burning Tulsa-area house in what was being investigated as multiple homicides, police said. The fire was reported about 4 p.m. Thursday, Oct. 27 in a quiet residential area …
USI Acquires Oklahoma’s Beasley & Company
Insurance Journal | October 31, 2022
USI Acquires Oklahoma’s Beasley & Company
USI Insurance Services announced the acquisition of Tulsa, Oklahoma-based Beasley & Company. Founded in 1992, Beasley & Company is a regional benefit consulting firm specializing in retirement, executive compensation and health & welfare benefit plans. The company’s operations will be …
South Dakota Sees Increase in Medical Pot Cards
Insurance Journal | October 31, 2022
South Dakota Sees Increase in Medical Pot Cards
SIOUX FALLS, S.D. (AP) – South Dakota has seen a rapid rise in people registering to use medical marijuana in recent months, as many obtain their patient cards through temporary consultation sites rather than their regular medical providers, a state …
Hurricane Ian’s Lucrative Cleanup Deals Generating New Tempests
Insurance Journal | October 30, 2022
Hurricane Ian’s Lucrative Cleanup Deals Generating New Tempests
It has been a month since Hurricane Ian wiped out parts of southwest Florida. Now multimillion-dollar cleanup contracts are generating new tempests in the Category 4 storm’s wake. Contractors who remove debris and perform post-storm repairs are fighting over local …
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Insurance Journal | October 28, 2022
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a result of the break-up …