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Category: Insurance Journal

Minneapolis to Pay $150K Settlement to Witness in George Floyd Murder
Insurance Journal | April 29, 2024
Minneapolis to Pay $150K Settlement to Witness in George Floyd Murder
MINNEAPOLIS (AP) — The Minneapolis City Council has agreed to pay a $150,000 settlement to an eyewitness who tried to intervene to prevent George Floyd’s murder and who says he suffers from post-traumatic stress disorder as a result. Donald Williams, …
Florida Governor Signs Wind-Mitigation Funding Bills for Homes, Condos
Insurance Journal | April 29, 2024
Florida Governor Signs Wind-Mitigation Funding Bills for Homes, Condos
Florida’s governor has signed two bills that will provide more matching grants for homeowners and condominium associations to fortify properties against the growing threat of windstorms. Senate Bill 7028 will send an additional $200 million to the My Safe Florida …
Williams-Sonoma Must Pay Nearly $3.2M for Violating ‘Made in USA’ Order
Insurance Journal | April 29, 2024
Williams-Sonoma Must Pay Nearly $3.2M for Violating ‘Made in USA’ Order
Home products retailer Williams-Sonoma will have to pay almost $3.2 million for violating a Federal Trade Commission “Made in USA” order. Williams-Sonoma was charged with advertising multiple products as being “Made in USA” when they were in fact manufactured in …
People Moves: AEGIS London Hires AIG’s Johnson and Lambert for New Cyber Underwriting Team; Markel Promotes Gordge to Head of Terrorism in London
Insurance Journal | April 19, 2024
People Moves: AEGIS London Hires AIG’s Johnson and Lambert for New Cyber Underwriting Team; Markel Promotes Gordge to Head of Terrorism in London
This edition of International People Moves details appointments at Lloyd’s syndicate AEGIS London and Markel, the insurance operations within Markel Group. A summary of these new hires follows here. AEGIS London Hires AIG’s Johnson and Lambert for New Cyber Underwriting …
Fleming Acquires James River’s Casualty Reinsurance Business, Ending Legal Dispute
Insurance Journal | April 19, 2024
Fleming Acquires James River’s Casualty Reinsurance Business, Ending Legal Dispute
James River Group Holdings Ltd. announced that Fleming Intermediate Holdings has completed the $277 million acquisition of James River’s casualty reinsurance business – after a period of legal wrangling that had threatened to derail the deal. The transaction, which was …
People Moves: Chubb Names Scheffler COO of Personal Risk Services; AXIS Appoints Morley Head of US E&O
Insurance Journal | April 19, 2024
People Moves: Chubb Names Scheffler COO of Personal Risk Services; AXIS Appoints Morley Head of US E&O
Chubb said it has promoted Melissa Scheffler to chief operating officer of Personal Risk Services (PRS). Currently, Scheffler serves as regional executive officer for the Mid-Atlantic region. In a corresponding move, Bryce Graham, who currently serves as the Philadelphia and …
Severe Storms Cause Damage in Middle U.S.
Insurance Journal | April 19, 2024
Severe Storms Cause Damage in Middle U.S.
ST. LOUIS (AP) — Strong storms caused damage in parts of the middle U.S. this week and spawned tornadoes in Kansas and Iowa, including one that left two people hurt. An EF-1 tornado touched down shortly after 6 a.m. Tuesday …
County Prosecutor Accused of Misusing Insurance Funds Resigns, Denies Wrongdoing
Insurance Journal | April 10, 2024
County Prosecutor Accused of Misusing Insurance Funds Resigns, Denies Wrongdoing
The top prosecutor in a northwestern New Jersey county has resigned amid a state probe into allegations that the office lied about caseloads to pad its budget with state money meant for fraud investigations. James Pfeiffer, who had been the …
Markets/Coverages: Antares’ Syndicate Launches Credit and Political Risks Consortium
Insurance Journal | April 10, 2024
Markets/Coverages: Antares’ Syndicate Launches Credit and Political Risks Consortium
Antares Global, the multinational group of insurance and related service companies, announced that Antares Syndicate 1274 has launched a consortium for the underwriting of credit and political risk insurance. The maximum line for the consortium initially will be $40 million. …
Texas DWC Accepting Comments on Routine Rule Changes
Insurance Journal | April 10, 2024
Texas DWC Accepting Comments on Routine Rule Changes
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) sent out a notice to workers’ compensation system participants that it will review all sections in the following chapters in Title 28, Texas Administrative Code: Chapter 120 (Compensation Procedure–Employers); Chapter …