National News

People Moves: World Insurance Names Woosley Head of National Practice Groups; Former Ascot Re CEO Berger Joins Coaction Board

World Insurance Associates Names Woosley EVP, Head of National Practice Groups World Insurance Associates LLC, headquartered in Iselin, New Jersey, named Thaddeus Woosley as executive vice president and head of national practice groups. Woosley is based in Chicago. Woosley’s background …

Zantac Not a Cause of Woman’s Cancer, Jury Says in First Trial Over Drug

A jury in Chicago on Thursday rejected an Illinois woman’s claim that the now discontinued heartburn drug Zantac caused her colon cancer, in the first trial out of thousands of lawsuits making similar allegations. The jury in Cook County, Illinois …

Boeing Faces ‘Long Road’ on Safety Issues, FAA Says

U.S. planemaker Boeing faces a “long road” to address safety issues, the head of the Federal Aviation Administration said on Thursday as it prepares to receive the company’s plan to address concerns. In late February, FAA Administrator Mike Whitaker gave …

Are You a Top Account Manager/CSR? Submit a Nomination Today

Customer service representatives and account managers are the heart of agencies. That’s why Insurance Journal wants to recognize these valuable players for the critical work they do! We’re looking for the 2024 MVPs: Account Managers/CSRs. The ones who retain valuable …

NOAA Chimes in With Prediction of Above-Average Atlantic Hurricane Season

The National Oceanic and Atmospheric Administration (NOAA) today predicted an 85% chance of an above-average Atlantic hurricane season, with up to 25 named storms. “The upcoming Atlantic hurricane season is expected to have above-normal activity due to a confluence of …

US Sues to Break Up Live Nation-Ticketmaster

The U.S. Justice Department and a group of 30 states and the District of Columbia Thursday sued to break up Live Nation, arguing the big concert promoter and its Ticketmaster unit illegally inflated concert ticket prices and hurt artists. “It …

Biden Overtime Pay Rule Challenged by US Business Groups

A coalition of U.S. business groups has filed a lawsuit seeking to block a Biden administration rule that would extend mandatory overtime pay to 4 million workers, saying it goes too far. The groups filed a complaint in U.S. District …

US Home Insurers Post Net Combined Ratio Over 110: S&P

The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence. The net combined ratio for the homeowners business, excluding policyholders’ dividends, was 110.5 in 2023, …

SEC Fines NYSE Parent Intercontinental Exchange $10M Over Cyber Incident

The company that runs global financial exchanges and clearing houses has agreed to a $10 million fine to settle charges it delayed notifications of a cyber intrusion about 3 years ago. The U.S. Securities and Exchange Commission (SEC) on May …

People Moves: TMPAA Names Abbey New Executive Director; AIG Appoints Browne Global Head of Specialty

American International Group, Inc., headquartered in New York, appointed Gordon Browne as global head of specialty, effective June 11. Browne will serve on the international insurance leadership team. Browne has over 20 years of industry experience in the U.S. and …

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