Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew had just barreled through …
Nearly 25 percent of employee thefts involve large-scale losses of more than $1 million and 29 percent are carried out over five or more years. According to a study on embezzlement by specialist insurer Hiscox, high-loss cases often result from …
A Delaware judge has dismissed a class-action lawsuit filed by former stockholders of Martha Stewart Living Omnimedia over the company’s 2015 acquisition by Sequential Brands. The lawsuit said that Stewart leveraged her position as controlling stockholder to secure greater consideration …
Harvey, which could strengthen into the first hurricane to strike Texas since 2008, forced workers off Gulf of Mexico platforms, sent cotton rallying and has airlines preparing for flight disruptions. Tropical Storm Harvey, which has shut oil and natural gas …
Researchers are turning to the sky to help stop earthquakes from rumbling deep beneath the Oklahoma soil. The U.S. Geological Survey in coordination with the Oklahoma Geological Survey and other groups last week began using a modified small airplane to …
Illinois Gov. Bruce Rauner has vetoed a workers’ compensation reform bill that has been strongly opposed by the insurance industry. Rauner on Aug. 18 vetoed HB 2622, which would have created the Illinois Employers Mutual Insurance Co. by allowing the …
The U.S. Ninth Circuit court of Appeals affirmed Wednesday that the Los Angeles Lakers are not entitled to insurance coverage for class action allegations that the team violated the Telephone Consumer Protection Act. During a game the team evidently invited …
Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance Regulation. According to an amended consent order for administrative supervision dated …
Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty), headquartered in Dallas. The outlook assigned to these credit …
St. Louis, Mo.-based Powers Insurance and Benefits recently changed its name to Powers Insurance & Risk Management. Founded in 1991, the company is one of the largest family owned and operated independent insurance agencies in the bi-state region. Powers Insurance …
