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Category: Insurance Journal

People Moves: Marsh Promotes Barnes as Global Head of Energy & Power, Herring as Team’s Chair
Insurance Journal | March 19, 2025
People Moves: Marsh Promotes Barnes as Global Head of Energy & Power, Herring as Team’s Chair
People Moves: Marsh Promotes Barnes as Global Head of Energy & Power, Herring as Team’s Chair Marsh, the insurance brokerage business of Marsh McLennan, announced the appointment of Amy Barnes as global head of Energy & Power, effective immediately. Based …
Detroit Area CBP Director Charged in FEMA Fraud Scheme
Insurance Journal | March 19, 2025
Detroit Area CBP Director Charged in FEMA Fraud Scheme
A federal criminal complaint was unsealed today charging the Director of United States Customs and Border Protection’s (CBP) Center for Excellence and Expertise over Automotive and Aerospace Engineering with engaging in a scheme to defraud the Federal Emergency Management Agency …
Swiss Re to Sell Entire 10.05% Stake in Canada’s Definity Financial for C$655 Million
Insurance Journal | March 19, 2025
Swiss Re to Sell Entire 10.05% Stake in Canada’s Definity Financial for C$655 Million
Swiss Re is selling its entire 10.05% stake in Definity Financial, the Canadian property/casualty insurer, for C$655 million ($458.1 million) — a decision the reinsurer made after a review of its investment portfolio. On March 19, Swiss Re was due …
World Insurance Acquires Archambault Associates of Connecticut
Insurance Journal | March 10, 2025
World Insurance Acquires Archambault Associates of Connecticut
World Insurance Associates LLC reports it acquired the business of Archambault Insurance Associates of Putnam, Connecticut in December. Terms of the transaction were not disclosed. Archambault was founded in 1928 by Joseph A. Archambault. Today the third-generation, family-owned, full-service agency …
AM Best Assigns Excellent Rating to MEM
Insurance Journal | March 10, 2025
AM Best Assigns Excellent Rating to MEM
AM Best has assigned Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” (Excellent) to Previsor Insurance Company (Centennial, Colo., MEM Protect Insurance Company, MEM Shield Insurance Company and MEM Secure Insurance Company. The outlooks assigned …
South Dakota Law Raises Questions About Future of Massive Midwest Pipeline
Insurance Journal | March 10, 2025
South Dakota Law Raises Questions About Future of Massive Midwest Pipeline
A new law in South Dakota prohibiting the use of eminent domain to acquire land for carbon capture pipelines raises questions about the viability of a proposed 2,500 mile (4,023-kilometer) project snaking through five Midwest states. Summit Carbon Solutions, the …
FTC: Consumers Lost $12.5 Billion to Investment, Other Scammers in 2024
Insurance Journal | March 10, 2025
FTC: Consumers Lost $12.5 Billion to Investment, Other Scammers in 2024
Consumers lost more than $12.5 billion to fraud in 2024, which represents a 25% increase over the prior year, according to newly released Federal Trade Commission data. The FTC said while the number of fraud reports remained stable at about …
Texas Judge Awards Nearly $2M for Negligent FBI Agent’s Fatal Shooting
Insurance Journal | March 10, 2025
Texas Judge Awards Nearly $2M for Negligent FBI Agent’s Fatal Shooting
A federal judge has awarded nearly $2 million in damages as part of a civil lawsuit after concluding an FBI agent was negligent when he fatally shot a kidnapped Texas man during a botched rescue attempt in 2018. The family …
Florida Citizens Moving to Safer Jacksonville Office Away from Downtown
Insurance Journal | March 10, 2025
Florida Citizens Moving to Safer Jacksonville Office Away from Downtown
Florida’s Citizens Property Insurance Corp. is planning to move its Jacksonville office, due in part to security concerns at its current downtown location where more than 800 employees have worked for the last 10 years. The Citizens Board of Governors …
8 Hurt When Driver Plowed Vehicle into California Car Dealership
Insurance Journal | March 10, 2025
8 Hurt When Driver Plowed Vehicle into California Car Dealership
Eight people were injured over the weekened when a driver plowed a vehicle into a CarMax location in the Los Angeles area. Two people were critically hurt at the dealership in Inglewood, while the other six had minor injuries, Los …