12 11, 2024

Howden Broadens Asia Footprint With Acquisition of Hong Kong Broker Storfield

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Howden, the London-based insurance intermediary group, announced the acquisition of Storfield Insurance Consultants Ltd., a specialist in general insurance for small-to-medium sized enterprises (SMEs) and high-net-worth (HNW) clients. Financial details of the transaction were not disclosed. This strengthens Howden’s position …

12 11, 2024

Specialist Risk Group Acquires UK Claims Specialist One Claim Ltd.

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Specialist Risk Group (SRG), the London-based specialist insurance intermediary, announced the acquisition of One Claim Ltd. Based in Essex, England, One Claim provides broker partners and their clients with claims management support from initial notification through to settlement. The One …

12 11, 2024

Global Warming Is Already on the Cusp of 1.5C, New Research Finds

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A newly proposed method for calculating the global temperature suggests that countries may have already failed their main climate goal: to limit warming to below 1.5C. Scientists using the method say the world was 1.49C hotter than in pre-industrial times …

12 11, 2024

Malaysia’s Top Bank Is Said to Weigh Options for Insurer Etiqa

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Malayan Banking Bhd. is considering options including buying out Ageas SA’s minority stake in Etiqa as Malaysia’s biggest lender seeks to boost the value of the Southeast Asian insurer, according to people with knowledge of the matter. Maybank, as the …

12 11, 2024

Inszone Acquires Nugent Insurance Brokers in California

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Inszone Insurance Services acquired Nugent Insurance Brokers LLC in Chico, California. Valerie and Tom Nugent Jr., and Tom Jr.’s daughter, Marissa, will remain with Inszone. Nugent Insurance will also expand into personal lines by gaining access to Inszone Insurance’s markets …

12 11, 2024

California Insurance Commissioner Orders 1-Year Moratorium on Cancellations for Wildfire Victims

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California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 11,000 policyholders affected by the Shelly Fire located in Siskiyou County and the Bear Fire located in Sierra County. …

12 11, 2024

Judge Says New York Can’t Use ‘Antiquated, Unconstitutional’ Law to Block Migrant Buses from Texas

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New York City can’t use an unconstitutional, two-century-old “anti-pauper” law to block the state of Texas from offering migrants free bus rides to the city from the southern border, a state judge has ruled. The court on Thursday dismissed a …

12 11, 2024

Hawaiian Electric Removes Going Concern Doubts After Q3 Loss and Wildfire Settlement

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Hawaiian Electric reported a third-quarter loss after the utility removed a warning about its ability to remain in business, saying that a recent capital raise helped mitigate the concerns. The utility had raised going concern doubts after disclosing that it …

12 11, 2024

Abiomed to Pay $57K to Resolve Alleged Gender-Based Promotion Discrimination

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The U.S. Department of Labor has announced that its Office of Federal Contract Compliance Programs and Abiomed Inc., a federal medical equipment supplier, have entered into a conciliation agreement to resolve allegations of gender-based promotion discrimination at the company’s Danvers, …

12 11, 2024

Progressive to End Offering Dwelling Fire Insurance

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Progressive said it will stop offering dwelling fire insurance, with nonrenewal notices going out as early as Nov. 19. The Mayfield, Ohio-based insurer late last week said the decision to discontinue writing the coverage, often dubbed “landlord insurance,” for non-primary …