Monthly Archives: <span>July 2023</span>

Train Derails Outside Rural Wisconsin Village, Authorities Say No Hazardous Materials Leaked

REESEVILLE, Wis. (AP) __ Investigators are looking into what caused a freight train to derail outside a small village in south-central Wisconsin. The train derailed just west of the village of Reeseville in Dodge County around 2 p.m. Tuesday. the …

Chicago Flooding a Reminder of Vulnerability of Major Cities During Extreme Weather

Heavy rains that flooded Chicago neighborhoods, rendered freeways impassable and wreaked havoc on NASCAR street races downtown Sunday are serving as stark reminders of urban centers’ vulnerability during extreme weather events. After a historic deluge in April in Fort Lauderdale, …

Fast Facts about Fidelity Bonds and Public Official Bonds

This post is part of a series sponsored by Old Republic Surety. When do commercial or government entity clients require bonds rather than insurance? Does commercial crime coverage eliminate the need for a fidelity bond? What’s the difference between a …

Viewpoint: What Role Could Insurance Premium Finance Have Played in Recent Bank Failures?

On March 10, while most Americans were diligently toiling away in their jobs, very few people likely understood the silently ticking time-bomb sitting inside the balance sheets of many of our bank-brethren in our important banking industry. Few would have …

LAAIA and the Spencer Educational Foundation Join Forces to Empower Latino Students in Risk Management & Insurance Industry with Scholarships

Miami, FL, July 6, 2023 – The Latin American Association of Insurance Agencies (LAAIA) is proud to announce its continued partnership with the Spencer Educational Foundation in providing scholarships to top-ranking Latino students aspiring to build careers within Risk Management …

A.J. Gallagher Acquires The Andersen Group in Virginia

Global insurance broker Arthur J. Gallagher & Co. announced it has acquired Chantilly, Virginia-based The Andersen Group. The Andersen Group is a retail insurance agency serving non-profit trade associations, government contractors and engineering services companies in the greater Washington, D.C. …

AM Best Issues Improved Outlooks for Barnstable Group in Massachusetts

AM Best has revised its outlooks to stable from negative and affirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” (Excellent) for the members of Barnstable Group, which includes Barnstable County Mutual Insurance Co. …

Georgia Trial Lawyer Surrenders License After Using Insurance Settlement Proceeds

The Georgia Supreme Court has accepted the voluntary license surrender of a plaintiffs’ attorney who had been in practice for more than 45 years. Richard L. Middleton Jr., of Savannah, acknowledged that he had violated Georgia Bar rules by using …

As Global Temperatures Set New Records, Policyholder Advocates Continue to Deny the Science

We learned this week that July 4’s average global temperature of 62.92 degrees Fahrenheit was the world’s hottest day since at least 1979, when the U.S. National Centers for Environmental Prediction began keeping records, and potentially the hottest in about …

Appetite for Cat Exposures Returns; Reinsurers Stay Disciplined in Mid-Year Renewals

Capacity was more readily available during the mid-year renewals, which brokers described as “orderly,” in comparison to the turbulent January renewals. At the same time, prices saw some moderating trends while reinsurers continued to maintain underwriting discipline, according to reports …