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INSURANCE NEWS
Marsh McLennan Reports Better Than Expected First Quarter Profit
Marsh McLennan reported a better-than-expected quarterly profit on Thursday, helped by an increase in interest income the insurance brokerage earned from funds held on behalf of clients. The company’s shares rose about 2% to $201 before the bell. The U.S. …
CFC Acquires Solution Underwriting in Australia
CFC, the London-based specialist insurer, announced it has agreed to acquire Australian managing general agent, Solution Underwriting. Financial details of the deal, which is expected to complete on April 30, 2024, were not disclosed. CFC has been trading in Australia …
Investor Climate Group Sets Target for Assets in Private Equity, Debt
The world’s leading group of asset owners committed to turning their investment portfolios green said on Thursday it had set guidance for private assets for the first time and would also look to improve assessment of emissions tied to sovereign …
Arthur J. Gallagher & Co. Acquires Louisiana’s Fontenelle & Goodreau
Arthur J. Gallagher & Co. announced the acquisition of Metairie, Louisiana-based Fontenelle & Goodreau Insurance, LLC. Terms of the transaction were not disclosed. Fontenelle & Goodreau Insurance offers commercial property/casualty coverages specializing in large apartment accounts in the Louisiana market …
Texas DWC Adopts Amendments to Accident Prevention Services
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced this week that it has adopted amendments the 28 Texas Administrative Code concerning certain submission requirements for insurance companies about their accident prevention services (APS). The rule will be …
People Moves: McGill Expands Global Property Team; Lawrence Joins Alliant; Berkshire Specialty Promotes Bowman
McGill Hires Milne and Cabot to US Property Team McGill and Partners, headquartered in London, appointed Duncan Milne and Cabot Lyman as partners to the firm’s U.S. property team. Milne joins the firm as a partner and head of U.S. …
Global Insured Natural Disaster Claims Again Dominated by Severe US Storms: Gallagher
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
Survey Shows Majority of Florida, California Homeowners Seeing Higher Insurance Costs
It will come as a surprise to no one that the majority of Florida and California homeowners say they have been affected by rising property insurance costs. A survey by Redfin, a U.S. real estate broker, found that just over …
Attorney Wants Footage of Fatal Chase in Mississippi But Town Says None Exists
JACKSON, Miss. (AP) — Civil rights attorney Ben Crump demanded Tuesday that police in a small town in Mississippi release camera footage of a chase that ended in the death of a Black teenager, but the city attorney said the …
NC Governor’s Pandemic Rules for Bar Closures Were ‘Illogical’ Court Says
RALEIGH, N.C. (AP) — North Carolina Gov. Roy Cooper’s orders during the COVID-19 pandemic that directed standalone bars to remain shuttered for safety while restaurants that serve alcohol got to reopen were “illogical” and violated the state constitution, an appeals …
3 Construction Workers Killed Doing Overnight Sealing on I-83, Police Say
LEWISBERRY, Pa. (AP) — Three construction workers on a maintenance project along a Pennsylvania interstate were struck and killed by a truck early Wednesday, state police said. Investigators said a 24-year-old man was driving a large box truck at about …
Brooklyn Diocese Settles with New York AG for Mishandling Clergy Sex Abuse Cases
New York Attorney General Letitia James announced an agreement with the Roman Catholic Diocese of Brooklyn to address years of reported mismanaging clergy sexual abuse cases. According to the Office of the Attorney General, its investigation found the diocese failed …
