Nigeria increased capital requirements for insurance businesses fivefold and gave operators a year to comply or risk losing their licenses. The capital threshold for non-life insurers was raised to 15 billion naira ($9.8 million) from 3 billion naira that of …
Nigeria Gives Insurers a Year to Boost Capital Fivefold Read More »
A poll of workers recently hired into the property/casualty insurance industry conducted during a Travelers Institute webinar last month produced some unusual results, surprising one webinar panelist who leads a key business segment at Travelers. Only 20 percent of responding …
Mission, Purpose Not High on Wish Lists of Industry Newbies: Informal Talent Poll Read More »
Sen. Adam Schiff recently reintroduced his Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to create a federal catastrophic reinsurance program. The insurance industry promptly reintroduced their opposition. “The INSURE Act may sound helpful on paper but would …
Senator Schiff Brings Back Idea of Federal Reinsurance Program Read More »
Former University of Georgia and NFL quarterback Jake Fromm has been hired as client advisor for Georgia-based insurance broker Sterling Seacrest Pritchard. “I’m excited to start this new chapter of my life, building new and long-lasting relationships, and helping people …
People: Sterling Seacrest Pritchard Adds QB Jake Fromm to the Backfield Read More »
It was supposed to simplify and speed the process for insurance agents trying to find private coverage for Citizens policyholders, a vital link in depopulating Florida’s oversized insurer of last resort. But a year after the $36 million Citizens clearinghouse …
$36M Clearinghouse System Has Problems, Some Fla. Agents Say. Citizens Disagrees Read More »
The Hanover Appoints Mitchell President of Technology and Life Sciences Business The Hanover Insurance Group, Inc., headquartered in Worcester, Massachusetts, appointed Toni E. Mitchell as president of its technology and life sciences business. Mitchell previously served as the regional executive …
People Moves: The Hanover Appoints Mitchell; MEMIC Promotes Kelley Read More »
Brown & Brown Dealer Services has acquired the assets of Tire Shield. The Tire Shield team will join Brown & Brown Dealer Services and continue to operate from their offices in Las Vegas, Nevada. The team will report to William …
Brown & Brown Acquires Assets of Tire Shield in Nevada Read More »
Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. The lawsuit in a New York …
New York AG Sues Zelle, Claims Lax Security Led to $1 Billion Consumer Fraud Losses Read More »
A large-scale workers’ compensation fraud and tax evasion scheme that came to light when an employee was killed while removing a sign from a brewery has resulted in the sentencing of a construction firm owner. According to New York State …
Owner Sentenced, Fined $1.2M for Workers’ Comp Scheme Uncovered After Tragedy Read More »
An employer has pleaded guilty to criminal charges after investigation into deadly nitrogen leak held the company responsible. California Ranch Foods, a subsidiary of Golden West Food Group, pleaded guilty to two misdemeanor counts after being criminally charged in connection …
California Employer Pleads Guilty to Charges Over Deadly Nitrogen Leak Read More »
