News Archives - Insurance Journal

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1 07, 2024

Uber and Lyft Agree to Higher Wages, Work-Accident Insurance in Mass. Settlement

By | July 1st, 2024|Uncategorized|Comments Off on Uber and Lyft Agree to Higher Wages, Work-Accident Insurance in Mass. Settlement

BOSTON (AP) — Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour and will be eligible for occupational accident insurance paid by the companies for up to $1 million for work-related injuries under a …

12 07, 2024

Allstate Seeking 34% Rate Hike on California Homeowners Insurance

By | July 12th, 2024|Uncategorized|Comments Off on Allstate Seeking 34% Rate Hike on California Homeowners Insurance

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023. The initial rate request …

1 07, 2024

‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean

By | July 1st, 2024|Uncategorized|Comments Off on ‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean

Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday. Beryl’s winds roared across the region at 120 miles (195 kilometers) per hour, making it a Category 3 hurricane …

1 07, 2024

Minivan Slams into Long Island Nail Salon, Killing 4, Injuring 9

By | July 1st, 2024|Uncategorized|Comments Off on Minivan Slams into Long Island Nail Salon, Killing 4, Injuring 9

A minivan slammed into a Long Island nail salon Friday, killing four and injuring nine people inside the business at the time, a Suffolk County fire official said. The vehicle came to a stop at the back of the Hawaii …

1 07, 2024

Cyber Insurance Rates Drop as Businesses Improve Security, Report Says

By | July 1st, 2024|Uncategorized|Comments Off on Cyber Insurance Rates Drop as Businesses Improve Security, Report Says

Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cyber-attacks rocketed in …

1 07, 2024

Markerstudy Completes Purchase of Ardonagh’s Personal Lines Broking Business

By | July 1st, 2024|Uncategorized|Comments Off on Markerstudy Completes Purchase of Ardonagh’s Personal Lines Broking Business

Markerstudy, the UK insurance group, has completed the purchase of the Ardonagh Group’s personal lines broking business, Atlanta Group, in a deal that was first announced in September 2023. While financial details of the transaction were not disclosed, the Atlanta …

1 07, 2024

Maui Officials Highlight Steps Toward Rebuilding As 1-Year Mark of Deadly Wildfire Approaches

By | July 1st, 2024|Uncategorized|Comments Off on Maui Officials Highlight Steps Toward Rebuilding As 1-Year Mark of Deadly Wildfire Approaches

Nearly a year after wind-whipped flames raced through Kim Ball’s Hawaii community, the empty lot where his house once stood is a symbol of some of the progress being made toward rebuilding after the deadliest U.S. wildfire in more than …

1 07, 2024

Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO

By | July 1st, 2024|Uncategorized|Comments Off on Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO

Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan Specialty and …

1 07, 2024

Arthur K. Gallagher & Co. Acquires Texas’ Zayla Partners

By | July 1st, 2024|Uncategorized|Comments Off on Arthur K. Gallagher & Co. Acquires Texas’ Zayla Partners

Arthur J. Gallagher & Co. announced the acquisition of Katy, Texas-based Zayla Partners, LLC (Zayla). Terms of the transaction were not disclosed. Zayla is an executive compensation strategy firm that serves clients across a variety of sizes and industries. Chris …

1 07, 2024

US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair

By | July 1st, 2024|Uncategorized|Comments Off on US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair

This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …