Monthly Archives: <span>July 2021</span>

Rising COVID Outbreaks on Ships Endanger Maritime Workers, Risk Trade Disruptions

Global vaccinations of seafarers are going too slowly to prevent outbreaks on ships from causing more trade disruptions, endangering maritime workers and potentially slowing economies trying to pull out of pandemic slowdowns. Infections on vessels could further harm already strained …

Canadian Municipalities Face Surging Liability Insurance Costs

TORONTO – Canadian municipalities reeling from a pandemic-driven hit to revenues are facing an added blow from surging liability insurance costs, forcing them to raise property taxes or even cut services for residents. The increase in premiums, about 20% to …

Missouri Grain Facility Cited for Safety Failures, Fined $215.5K

A Missouri grain facility faces more than $215,000 in penalties after being cited for one willful and six serious safety violations following an explosion that seriously injured an employee. According to the U.S. Department of Labor Occupational Safety and Health …

Report: Uptake of Earthquake Insurance in Missouri Drops to Historic Low

New report from Missouri insurance regulators shows earthquake coverage plummeting amid sharply escalating insurance premiums. The new Earthquake Insurance Market Report from the Missouri Department of Commerce and Insurance (DCI) shows that earthquake coverage in the six-county New Madrid region …

Officials Link Cases of Legionnaires’ Disease to Minnesota Hotel Spa

State health officials are investigating cases of Legionnaires’ disease linked to an Albert Lea, Minn., hotel. Early evidence suggests the source of the respiratory disease may be the spa at the at the Ramada by Wyndham, according to the Minnesota …

Admitted FAIR Plan Alternative Actively Writing Business Throughout California

Are you tired of working with the market of last resort? San Diego, CA First Cap Property Insurance Solutions has announced a new admitted Dwelling Fire program for California residential risks. The program is designed to be an alternative to …

Insurance Marketplace Policygenius in Talks to Go Public Via SPAC

Policygenius Inc., an online insurance marketplace, is in talks to go public through a merger with the blank-check company PWP Forward Acquisition Corp. I, according to people with knowledge of the matter. A valuation for the transaction hasn’t yet been …

Ryan Specialty Launches Initial Public Offering with 57M Shares

Chicago-based insurance broker Ryan Specialty Group Holdings has filed for its planned initial public offering. Ryan Specialty is offering 56,918,278 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the Securities and …

Crest Insurance Group Acquires SpringbergMcAndrew in Arizona

Crest Insurance Group has acquired SpringbergMcAndrew Insurance in Lake Havasu City, Ariz. Principal Mike McAndrew joined the firm in 1989. McAndrew and longtime co-owner Brian Springberg have since grown the company to one of the largest firms in Mohave County. …

Transitioning from FastBonds to a Standard Bond Program

This post is part of a series sponsored by Old Republic Surety. Especially now, at the leading edge of the post-pandemic construction boom, your agency’s contractor clients may need to increase their bonding capacity to take on more and larger …