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Category: Insurance Journal

Brazil Insurer Caixa Seguridade Files for Secondary Share Offering
Insurance Journal | March 10, 2025
Brazil Insurer Caixa Seguridade Files for Secondary Share Offering
Brazilian state-run insurance firm Caixa Seguridade said late on Sunday it had filed for a follow-on share offering that will comprise a secondary sale of stock owned by controller Caixa Economica Federal. The move was widely expected since the company …
Citi Fined by Swiss Exchange Regulator Over 2022 Fat-Finger Flash Crash
Insurance Journal | March 10, 2025
Citi Fined by Swiss Exchange Regulator Over 2022 Fat-Finger Flash Crash
Citigroup Inc. was fined 500,000 Swiss francs ($568,000) by Switzerland’s stock exchange regulator for failures after a London staffer’s fat-finger trade caused a flash crash in European stocks in 2022. The total value of the erroneous trades executed on the …
Regulators Ask Gallagher for More Information on $13.4 Billion AssuredPartners Acquisition
Insurance Journal | March 10, 2025
Regulators Ask Gallagher for More Information on $13.4 Billion AssuredPartners Acquisition
Arthur J. Gallagher & Co. reported that it has received a second request for information from federal officials relating to its proposed $13.45 billion acquisition of AssuredPartners, Inc. Gallagher said it is actively responding to the request and expects that …
Cyclone Alfred Weakens to Tropical Low, Sparing Any Major Damage
Insurance Journal | March 10, 2025
Cyclone Alfred Weakens to Tropical Low, Sparing Any Major Damage
Ex-Tropical Cyclone Alfred weakened to a tropical low and was still lingering off the coast of Brisbane on Saturday afternoon, sparing Australia’s third-biggest city from any major damage. The storm still threatens to bring high winds and flooding to an …
FEMA Cancels Classes at National Fire Academy Amid Federal Funding Cuts
Insurance Journal | March 10, 2025
FEMA Cancels Classes at National Fire Academy Amid Federal Funding Cuts
The country’s preeminent federal fire training academy canceled classes, effective immediately, on Saturday amid the ongoing flurry of funding freezes and staffing cuts by President Donald Trump’s administration. The Federal Emergency Management Agency announced that National Fire Academy courses were …
As Some States Welcome More Captives, Alabama DOI Declares Moratorium on Them
Insurance Journal | March 10, 2025
As Some States Welcome More Captives, Alabama DOI Declares Moratorium on Them
Just as several other U.S. states are bragging about the growing number of captive insurers domiciled there – and are making changes to attract more captives – Alabama regulators have declared a temporary moratorium on those types of insurance companies. …
Virginia’s Top Court Rejects Amazon’s ‘Zig-Zag’ in Upholding Flex Drivers as Employees
Insurance Journal | March 10, 2025
Virginia’s Top Court Rejects Amazon’s ‘Zig-Zag’ in Upholding Flex Drivers as Employees
The Virginia Supreme Court has upheld a ruling that Amazon Flex drivers are employees and not independent contractors while criticizing the company for changing its arguments after it lost in prior decisions. Amazon Logistics failed to convince the high court …
Cascading Extreme Weather Events Unleash Billions in Damages Globally
Insurance Journal | March 10, 2025
Cascading Extreme Weather Events Unleash Billions in Damages Globally
First came a dry spell that parched the land, then a spark, followed by some wind. Suddenly, swaths of South Carolina were consumed by voracious flames. More than 100 fires ignited in the state last weekend — an unusually high …
Honolulu Allowing Some Developers to OK Their Own Projects
Insurance Journal | March 10, 2025
Honolulu Allowing Some Developers to OK Their Own Projects
More than a year after the Honolulu City Council created a program to reduce the city’s backlog of building permit applications, the city’s permitting department director said she’s close to starting the program. The delay, said Department of Planning and …
Long Island Brush Fires Prompt Emergency Declaration
Insurance Journal | March 9, 2025
Long Island Brush Fires Prompt Emergency Declaration
March 8— Multiple brush fires burned in Long Island State Pine Barrens Reserve, a wooded area near bedroom communities outside New York City, prompting Governor Kathy Hochul to declare a state of emergency. The fires in the 105,000-acre preserve in …