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Industry News

Florida New Litigated Claims Fell 35% in August

New litigated claims for Florida’s largest property and casualty insurers dropped to 4,313 in August, a 35% decrease from July, according to data compiled by litigation management software provider CaseGlide. The month-over-month drop is the largest percentage decline since September …
Surfside Commissioners Reject Proposed Land Swap at Site of Condo Collapse

Commissioners in Surfside, Florida, have rejected a proposal to trade public beachfront to the eventual buyer of the condominium collapse site so that a memorial to the 98 victims could be built there. The decision followed an emotional meeting Tuesday …
Zurich Insurance Weighs Selling Some Australian Non-Core Assets

Zurich Insurance Group AG is considering a sale of some of its general insurance assets in Australia as the Swiss firm seeks to streamline its portfolio, according to people familiar with the matter. The insurer is working with an adviser …
People Moves: Beazley Names Sanchez to New Cyber Role; AGCS Promotes Vassallo for Energy & Construction; Dyer and Adams Join Marsh’s UK Marine & Cargo Practice

This edition of International People Moves covers London-based appointments at Beazley, Allianz Global Corporate & Specialty (AGCS) and Marsh. A summary of these promotions and new hires follows here. Insurer Beazley Names Sanchez for Newly Created Global Head of Cyber …
Oakbridge Partners with Georgia-Based Snider Killingsworth

Oakbridge Insurance Agency LLC (Oakbridge) announced a new partnership with Snider Killingsworth Insurance & Risk Management (Snider Killingsworth) based in Griffin, Georgia. The partnership adds to Oakbridge’s footprint in Georgia, particularly within the growing Metro Atlanta region, and sets the …
Texas Plastics Company to Pay Nearly $3M for Clean Air Act Violations

A plastics company will pay $2.85 million in civil penalties to resolve alleged Clean Air Act violations at its petrochemical manufacturing plant in Point Comfort, Texas, federal environmental protection officials said. Formosa Plastics Corporation, Texas, also agreed improve its risk …
Louisiana Restaurant Sued for Pregnancy Discrimination

Federal authorities have sued a Louisiana restaurant for allegedly violating federal law against pregnancy discrimination in hiring. The U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit that Bourne’s House LLC, doing business as Bourne’s House Restaurant, violated federal …
Chicago to Pay $20.5M to 2 Men Allegedly Framed by Detective

Chicago’s City Council agreed to pay a total of $20.5 million to two of at least a dozen men who have had murder convictions dismissed after being allegedly framed by the same police detective. With the vote to settle the …
DOXA Insurance Acquires Caitlin Morgan Insurance Services in Indianapolis

Fort Wayne, Indiana-based DOXA Insurance Holdings LLC (DOXA) acquired Caitlin Morgan Insurance Services, a managing general underwriter (MGU) and wholesale brokerage in Indianapolis that helps independent agents place business and develop package programs for select industry niches. Caitlin Morgan will …
Allstate: Most August 2021 Cat Losses Occurred in Louisiana

The Allstate Corporation estimates catastrophe losses for August 2021 at of $876 million or $692 million, after-tax. The bulk of those losses are the result of Hurricane Ida and the majority occurred in Louisiana, the company said. Catastrophe losses for …

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