A plastic label on a single loose wire that blocked the wire from being fully connected caused an electrical blackout that led to the fatal collision of the 984-foot-long containership Dali into Baltimore’s Francis Scott Key Bridge in 2024. Investigators from the National Transportation Safety Board (NTSB) yesterday reported that the loose wire in the … Read more
King Risk Partners, which said it is now the 51st largest insurance brokerage in the United States, has acquired Stuart Surles Insurance agency in Angier, North Carolina, near Raleigh. The Surles agency, founded some 30 years ago, specializes in farm insurance as well as home, auto, health and life insurance, the companies said in a … Read more
According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the third quarter 2025 rose by 1.6%, as premium increases in all lines of business were either flat or lower than the last quarter when premiums for all accounts increased 3.7%. “Q3 2025 showed clear … Read more
Hewlett Packard Enterprise is seeking nearly $1.8 billion from the estate of the late Mike Lynch over HP’s acquisition of his British tech firm Autonomy, the U.S. technology giant’s lawyers told London’s High Court on Tuesday. Hewlett Packard is seeking to recoup its losses from Lynch, who died last year when his luxury yacht sank … Read more
AM Best has downgraded the financial strength ratings of State Farm Mutual Automobile Insurance Company and its affiliates to A+ from A++, reflecting a revision to Best’s assessment of the group’s operating performance. The affiliates included in the rating action are State Farm Fire and Casualty Company and State Farm County Mutual Insurance Company of … Read more
Lloyd’s of London is investigating its former chief executive officer, John Neal, who was set to start at American International Group Inc. next month before the company disclosed he’s no longer joining due to “personal circumstances.” Lloyd’s Chairman Charles Roxburgh “became aware of market speculation concerning possible historic breaches of policy” and initiated an independent … Read more
A federal jury in south Florida this week convicted a formerly licensed insurance broker and the head of a marketing firm for their roles in a years-long scheme to fraudulently enroll homeless people in Affordable Care Act insurance plans. Cory Lloyd, 46, of Stuart, Florida, and Steven Strong, 42, of Mansfield, Texas, signed up enough … Read more
Chubb Appoints Hazelton COO of North America Field Operations Bill Hazelton Chubb, headquartered in New York City, named Bill Hazelton as chief operating officer (COO) for North America Field Operations, effective Dec. 1. Hazelton will oversee the delivery of Chubb’s full portfolio of personal and commercial insurance products and services to agent and broker distribution … Read more
This edition of International People Moves details appointments at the specialty insurer Tokio Marine Kiln and the MGA Augmented UW. A summary of these new hires follows here. TMK Taps Beazley’s Silvestre as Head of Cyber Reinsurance Solutions Tokio Marine Kiln (TMK), a Lloyd’s specialist insurer, announced the appointment of Cesar Silvestre as head of … Read more
CVS Pharmacy Inc. has settled alleged violations of the California False Claims Act with California Attorney General Rob Bonta and the United States Department of Justice. The settlement agreement requires CVS to pay $18.2 million. It resolves allegations that between 2010 and 2021, CVS submitted pharmacy claims to Medi-Cal using false electronic certifications that certified … Read more