Weeks after Lighthouse Property Insurance announced it would stop writing new business in Florida, the insurer has been placed into receivership in Louisiana. Insurance Commissioner Jim Donelon placed Lighthouse into receivership last week in the 19th Judicial Circuit Court. Lighthouse …
Greensill Capital collapsed more than a year ago, but $9.3 billion of assets sold to investors as notes are yet to pay out. The lender, which collapsed in March 2021, sold short-term trade finance products to investors including funds run …
ALKEME acquired ERM Insurance Brokers in Santa Ana, California. ERM specializes in Hospitality, construction, cannabis, manufacturing, woodworking, cyber and retail/wholesale. Ladera Ranch, California-based ALKEME is backed by GCP Capital Partners. Its...
Inigo Ltd., the new Lloyd’s insurer, has entered the catastrophe bond market for the first time, less than 18 months after the firm began writing its portfolio of specialty insurance and reinsurance. Montoya Re, launched on April 1, is a …
A state appeals court ruled that a Southern California hospital can be held responsible for sexual abuse by an employee, upholding a jury’s damage award of $6.75 million to two elderly patients who were abused at a psychiatric hospital. The …
The U.S. Supreme Court on Tuesday wrestled with the circumstances under which doctors can be convicted of operating as drug dealers under the cover of their medical practices to illegally distribute opioid painkillers and other dangerous narcotics. The justices heard …
A man has filed a lawsuit against King County, Washington, and several corrections officers, alleging they fractured his spine when they knelt on his back and forcibly removed his clothing in jail. Todd Jones, 53, filed the lawsuit in King …
Global insurance broker Hub International has acquired the assets of Marketing Management Associates, Inc. of Landover, Maryland. Terms of the transaction were not disclosed. Marketing Management Associates is a commercial and personal lines insurance agency. The Marketing Management Associates team …
The Louisville City Council in suburban Denver voted in favor of allowing residents whose homes were significantly damaged or destroyed in Colorado’s most destructive wildfire to rebuild under less-stringent environmental standards. The Council voted 5-2 to allow affected residents to …
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry’s understanding of these risks, according to a report published by RMS. “Secondary …