Pinnacol names new senior medical director
Colorado workers comp insurer Pinnacol Assurance said Thursday it named Dr. Gabriel Lockhart its new senior medical director.
Tennessee comp court OKs knee replacement
A Tennessee Court of Workers’ Compensation Claims judge on Wednesday approved knee replacement surgery for a 78-year-old oil company worker whose request for the operation was denied by his employer, who argued that the need for it stemmed from preexisting conditions.
OSHA issues more than $900,000 in penalties after worker drowns
The U.S. Labor Department cited a Florida painting contractor for willfully exposing employees to fall and drowning hazards after a worker fell into a river near Savannah, Georgia, and drowned.
Amwins buys MGA
Specialty broker Amwins said Thursday it has acquired managing general agent Applied Risk Capital.
On not fishing for healthier sushi or salads at gas stations
It’s just one more reason to grab a bag of Cool Ranch Doritos at the truck stop when you have the road trip munchies.
Brown & Brown integrates former Risk Strategies leaders
Brown & Brown said Thursday it named several former Risk Strategies leaders, including CEO John Mina, to senior positions in its retail division.
Vantage names successor to chief risk officer
Vantage Group Holdings announced Thursday it promoted Krista Robinson to chief risk officer, succeeding Peter Skerlj, who is retiring.
Vietnam estimates property damage from Typhoon at $300M
Typhoon Bualoi caused an estimated $303 million in property damage in Vietnam, damaging nearly 170,000 homes, destroying 34,000 hectares of crops, and disrupting transportation and power systems, according to the country’s government, Reuters reports. While industrial facilities largely escaped serious impact, widespread infrastructure losses and housing damage will drive significant recovery and insurance costs.
Europe’s four largest reinsurers on track for $2.3 earnings haul
Munich Re, Swiss Re, Hannover Re, and SCOR could collectively gain nearly €2 billion ($2.3 billion) in surplus earnings in 2025 thanks to unusually benign catastrophe activity following the $40 billion Los Angeles wildfire in Q1, according to a report by research firm Autonomous, Reinsurance News reports. The favorable loss environment could boost reinsurers’ pre-tax […]
Cat bond issuances on record pace
Catastrophe bond and related insurance-linked securities issuances reached $18.6 billion in the nine months ended Sept. 30, already surpassing prior annual records and putting the market on track to exceed $20 billion in a single year for the first time, according to Artemis. The quarter saw $1 billion in new deals across 23 transactions, with […]
Houthis vow to target U.S. oil exporters
Yemen’s Houthi militia announced it will target U.S. oil majors including Exxon Mobil, Chevron, and other firms operating in the Red Sea and Gulf of Aden, designating them as hostile entities subject to attack, Hellenic Shipping News reports citing Reuters. The move escalates risk for commercial shipping and energy supply chains in the region, where […]
Allshores’ profits surge nearly 900%
Allshores Ltd, the combined operations of the former Argus Group and BF&M, posted first-half net income of $75.8 million, an 884% jump from $7.7 million a year earlier., The Royal Gazette reports. While gross written premium held steady at $318.4 million, net earned premium rose 11% to nearly $200 million, reflecting stronger underwriting performance.
Quake collapses buildings, damages infrastructure and kills 69
A magnitude-6.9 earthquake struck Cebu province in the central Philippines, killing at least 69 people, collapsing homes and businesses, and severely disrupting infrastructure with roads, bridges, and power systems damaged, the Express reports. Search and rescue continues amid more than 600 aftershocks, intermittent rain, and suspended classes and government operations; a brief tsunami warning […]
B.P. Marsh takes minority stake in Oneglobal Broking
Private equity firm B.P. Marsh & Partners has taken a minority stake in U.K.-based Oneglobal Broking Holdings for £10 million ($13.5 million), Investing.com reports. Oneglobal will use proceeds to fund its growth strategy, including the acquisition of a Bermudian specialty broker and expansion into Asian markets, as it targets £50 million in brokerage revenue […]
Aon taps Polanco as GM of its Iberia Reinsurance Team
Aon has appointed Gerardo Polanco as General Manager of its Iberia Reinsurance team, where he will oversee collaboration across geographies and business lines to enhance client service, Reinsurance News reports. With more than 25 years of experience, including leadership in facultative reinsurance across Europe, Polanco will report to EMEA CEO Tomas Novotny from Madrid.
Coinbase to face narrowed shareholder lawsuit
A federal judge said Coinbase shareholders may pursue a narrowed lawsuit accusing the largest U.S. cryptocurrency exchange operator of concealing business risks, including whether it would be sued by the Securities and Exchange Commission.
Honeywell offloads asbestos liabilities to lift cash flow
Honeywell said on Wednesday that it has divested all of its Bendix asbestos liabilities, as well as certain non-Bendix asbestos liabilities, to corporate liability acquisition platform Delticus.