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Supreme Court to Hear Dispute Over California Tailpipe Emissions, EV Standards
The U.S. Supreme Court agreed on Friday to hear a bid by fuel producers to challenge California’s standards for vehicle emissions and electric cars under a federal air pollution law in a major case testing the Democratic-governed state’s power to …
POSTED DECEMBER 13, 2024 9:01 PM |
California Commissioner Announces Regulation to Enable the Use of Modeling in Rates
California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a …
POSTED DECEMBER 13, 2024 6:25 PM |
AIG Leads Launch of Reinsurance Syndicate at Lloyd’s
American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. Commencing underwriting from Jan. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The syndicate, which will be managed …
POSTED DECEMBER 13, 2024 5:16 PM |
People Moves: Cincinnati Financial Names Givler and Den Heuvel SVPs
Cincinnati Financial Corporation, headquartered in Cincinnati, promoted several leaders in its commercial/life operations and personal/specialty operations effective January 1. Sean M. Givler, senior vice president, commercial lines, will lead the commercial/life insurance operations, overseeing commercial lines, management liability and surety, …
POSTED DECEMBER 13, 2024 4:44 PM |
Ryan Specialty Forms Contingency Unit, Joining Paradiso Risks and Alive Risk
Ryan Specialty, Chicago-based specialty insurance services firm, announced that Paradiso Risks is joining Alive Risk, Ryan Specialty’s sports, leisure and entertainment managing general underwriter. London-based Paradiso became part of Ryan after its acquisition of Castel Underwriting Agencies in May 2024. …
POSTED DECEMBER 13, 2024 4:12 PM |
New York in State of Emergency As It Faces Another Major ‘Lake Effect’ Snowstorm
New York State declared a state of emergency for portions of Western New York, Finger Lakes, Central New York and North Country regions as forecasts call for those areas to receive multiple feet of lake effect snow. Areas east of …
POSTED DECEMBER 13, 2024 4:09 PM |
New Orleans Attorneys Accused of Staging Car Accidents in Insurance Fraud Scheme
Eight people and two law firms have been charged in what authorities say was more than a decade-long scheme of staging vehicle crashes in the New Orleans area and then submitting fraudulent insurance claims, leading to what prosecutors allege was …
POSTED DECEMBER 13, 2024 4:01 PM |
Consulting Firm McKinsey to Pay $650M to Resolve US Opioid Probe
McKinsey & Co has agreed to pay $650 million to resolve a U.S. Department of Justice investigation into the consulting firm’s work advising opioid manufacturer OxyContin maker Purdue Pharma on how to boost sales. McKinsey has entered into a five-year …
POSTED DECEMBER 13, 2024 3:53 PM |
Hub Acquires Arkansas’ Hadfield Agency
Hub International Limited announced that it has acquired the assets of Hadfield Agency, Inc. (Hadfield Agency). Terms of the transaction were not disclosed. Headquartered in Little Rock, Arkansas, Hadfield Agency is an independent, multi-line insurance agency providing commercial and personal …
POSTED DECEMBER 13, 2024 3:42 PM |
Nonstandard Auto Segment Posts Profit for First Half 2024
While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two calendar years of record underwriting losses. Improving the overall quality of …
POSTED DECEMBER 13, 2024 3:41 PM |
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