News Archives - Insurance Journal

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30 09, 2024

Tata iPhone Component Plant in India Halts Production Indefinitely After Fire

By | September 30th, 2024|Uncategorized|Comments Off on Tata iPhone Component Plant in India Halts Production Indefinitely After Fire

Production will remain suspended indefinitely at a Tata Electronics plant in southern India that makes Apple iPhone components after a fire at the weekend, officials said on Monday as they acted to prevent further damage from the blaze. “We have …

30 09, 2024

EU Privacy Regulator Fines Meta €91M Over Password Storage, Adding to GDPR Violations

By | September 30th, 2024|Uncategorized|Comments Off on EU Privacy Regulator Fines Meta €91M Over Password Storage, Adding to GDPR Violations

The lead European Union privacy regulator fined social media giant Meta 91 million euros ($101.5 million) on Friday for inadvertently storing some users’ passwords without protection or encryption. The inquiry was opened five years ago after Meta notified Ireland’s Data …

30 09, 2024

Marsh McLennan to Buy TIH’s McGriff Insurance for $7.75B

By | September 30th, 2024|Uncategorized|Comments Off on Marsh McLennan to Buy TIH’s McGriff Insurance for $7.75B

Marsh McLennan says it has a deal in place to acquire McGriff Insurance Services for $7.75 billion, funded by cash and debt financing. U.S. retail broker McGriff, an affiliate of private-equity backed Truist Insurance Holdings (TIH), had $1.3 billion of …

30 09, 2024

Hurricane Helene Halts Poultry Plants, Damages Pecan Trees

By | September 30th, 2024|Uncategorized|Comments Off on Hurricane Helene Halts Poultry Plants, Damages Pecan Trees

Hurricane Helene has halted chicken processing plant operations and caused severe damage to some flocks, while also downing pecan trees and flattening cotton crops, as floodwaters swamped the southern US. Wayne-Sanderson Farms said its Moultrie, Georgia, processing facility will not …

30 09, 2024

What Testimony on Titan Submersible Disaster Revealed

By | September 30th, 2024|Uncategorized|Comments Off on What Testimony on Titan Submersible Disaster Revealed

Last year, five people hoping to view the Titanic wreckage died when their submersible imploded in the Atlantic Ocean. A Coast Guard panel that’s investigating the Titan submersible disaster heard two weeks of testimony that ended Friday. Previous witnesses provided …

30 09, 2024

4.2 Magnitude Earthquake Hit California South of San Francisco

By | September 30th, 2024|Uncategorized|Comments Off on 4.2 Magnitude Earthquake Hit California South of San Francisco

An earthquake registering magnitude 4.2 shook part of central California early Sunday, the United States Geological Survey confirmed. The earthquake was detected at 2:47 a.m. local time about 2 miles (3.2 kilometers) northwest of Aromas with a depth of 7.4 …

27 09, 2024

Tropical Storm Helene Lashes Florida With Powerful Winds, Rain

By | September 27th, 2024|Uncategorized|Comments Off on Tropical Storm Helene Lashes Florida With Powerful Winds, Rain

Hurricane Helene barreled into the western coast of Florida with dangerous winds, knocking out power for more than a million customers and threatening to unleash deadly flooding across several states. Helene made landfall near Perry with top sustained winds of …

27 09, 2024

New York State Insurance Fund Swapped Coal Assets for Responsible Index ETF

By | September 27th, 2024|Uncategorized|Comments Off on New York State Insurance Fund Swapped Coal Assets for Responsible Index ETF

Moving money from coal assets to a new responsible-investment exchange-traded vehicle provided the sort of quick win the New York State Insurance Fund was looking for when evaluating the climate and social impacts of its holdings, a top executive said …

27 09, 2024

Study: 75% of Independent Agencies Report Revenue Gains From 2022-23

By | September 27th, 2024|Uncategorized|Comments Off on Study: 75% of Independent Agencies Report Revenue Gains From 2022-23

Despite challenging conditions, 75% of independent insurance agencies saw revenue gains from 2022 to 2023, according to the 2024 Agency Universe Study. That number is significantly higher than between 2020 and 2021, during which 62% of agencies experienced gains. According …

27 09, 2024

Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected

By | September 27th, 2024|Uncategorized|Comments Off on Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected

Hundreds of claims adjusters were set to move out across Florida, Georgia and western parts of the Carolinas Friday morning as Hurricane Helene brought high storm surge and 140 mph winds to a region that has faced three hurricanes in …