News Archives - Insurance Journal

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1 02, 2023

MPL Insurers Curi and Constellation Agree to Merge

By | February 1st, 2023|Uncategorized|Comments Off on MPL Insurers Curi and Constellation Agree to Merge

Curi Holdings, Inc. and Constellation, Inc., two of the nation’s leading providers of medical professional liability (MPL) insurance, have signed an agreement to merge. Curi CEO Jason Sandner will remain CEO of Curi Holdings, Inc. Constellation President & CEO Ryan …

1 02, 2023

Attacks on U.S. Power Grids Rose to All-Time High in 2022

By | February 1st, 2023|Uncategorized|Comments Off on Attacks on U.S. Power Grids Rose to All-Time High in 2022

Attacks on US power grids rose to an all-time high last year, further straining the sprawling and aging network. The number of direct physical attacks, including acts of vandalism and other suspicious activity, that potentially threatened grid reliability rose 77% …

1 02, 2023

$32M Settlement in California Child Welfare Lawsuit

By | February 1st, 2023|Uncategorized|Comments Off on $32M Settlement in California Child Welfare Lawsuit

Central California’s Tulare County will pay $32 million to settle a lawsuit alleging its child welfare agency failed to respond to reports of abuse involving an infant boy who was hospitalized for malnutrition and suffered brain damage, plaintiffs’ attorneys said …

1 02, 2023

Chubb Q4 Net Income Down 39%

By | February 1st, 2023|Uncategorized|Comments Off on Chubb Q4 Net Income Down 39%

Fourth quarter 2022 net income at Chubb Ltd. was about $1.3 billion, nearly 39% lower than the same period the prior year, due to catastrophe losses and results in the company’s agriculture business from a below-average crop year. The P&C …

1 02, 2023

Feds Grant $132M to Improve California to ve Roads and Tackle Traffic Fatalities

By | February 1st, 2023|Uncategorized|Comments Off on Feds Grant $132M to Improve California to ve Roads and Tackle Traffic Fatalities

U.S. Transportation Secretary Pete Buttigieg announced $800 million in grant awards through the new Safe Streets and Roads for All Grant Program includes 50 grants for communities in California. The competitive grant program, established by President Joe Biden’s infrastructure law, …

1 02, 2023

Florida Citizens Shucks Nationwide Search, Names Cerio New CEO

By | February 1st, 2023|Uncategorized|Comments Off on Florida Citizens Shucks Nationwide Search, Names Cerio New CEO

The Citizens Property Insurance Corp. Board of Governors, in a special meeting Tuesday, surprised some in the Florida insurance industry by naming its general counsel as CEO – without a nationwide search. The board voted unanimously to elevate Tim Cerio …

27 01, 2023

U.S. Says It ‘Hacked the Hackers’ to Bring Down Hive Ransomware Gang

By | January 27th, 2023|Uncategorized|Comments Off on U.S. Says It ‘Hacked the Hackers’ to Bring Down Hive Ransomware Gang

The FBI on Thursday revealed it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 …

27 01, 2023

CFOs Now Occupy Hottest Seat in Boardroom and Most Acute Labor Shortage

By | January 27th, 2023|Uncategorized|Comments Off on CFOs Now Occupy Hottest Seat in Boardroom and Most Acute Labor Shortage

It’s not just truck drivers and nurses. The most acute labor shortage for many companies right now is the chief financial officer. Assignments for CFO appointments across Europe, the Middle East and Africa are up almost a third on this …

1 02, 2023

$225K Settlement Ends Police Brutality Suit in Ohio’s Largest City

By | February 1st, 2023|Uncategorized|Comments Off on $225K Settlement Ends Police Brutality Suit in Ohio’s Largest City

COLUMBUS, Ohio (AP) _ Officials in Ohio’s largest city have reached a $225,000 settlement with a man who said police officers used improper force during a 2017 arrest. The Columbus City Council voted unanimously Monday to approve the deal with …

27 01, 2023

2022 ‘A Tale of Two Halves’ for Insurance Mergers and Acquisitions

By | January 27th, 2023|Uncategorized|Comments Off on 2022 ‘A Tale of Two Halves’ for Insurance Mergers and Acquisitions

Last year was a tale of two halves for insurance mergers and acquisitions. OPTIS Partners reports 987 agency mergers and acquisitions were announced in 2022 – down 8% from 2021. A significant rise in interest rates and economic uncertainty may …