Lloyd’s Register, one of the world’s top ship certifiers, is stopping services to Russia after sanctions were imposed on Moscow for its invasion of Ukraine, the company said on Thursday. Classification societies including LR provide services such as checking that …
California Insurance Commissioner Ricardo Lara approved increases in the limits of coverage to the California FAIR Plan Association’s commercial programs offered to businesses, no later than May 1. Lara’s action allows businesses unable to secure insurance coverage in the normal …
The judge overseeing Purdue Pharma’s bankruptcy on Wednesday approved a $6 billion opioid settlement funded by its Sackler family owners, overruling objections from the Department of Justice and 20 states that opposed the deal. Under the settlement, the Sacklers would …
Reflecting growing animosity across the United States toward Russia after its invasion of Ukraine, lawmakers in New Jersey’s largest city have voted to suspend the licenses of gas stations branded with the name of a major oil company based in …
Mosaic Insurance has entered into an agreement to purchase the Lloyd’s managing agency of SiriusPoint as part of a transaction in which the global re/insurer will become a strategic investor in Mosaic. Under the deal, which is subject to Lloyd’s …
Tesla and other car makers represent a growing threat to incumbent auto insurers, even though they have little direct impact on the insurance market today, Moody’s Investors Services said. In a report titled, “Tesla’s insurance venture puts incumbents under added …
Marsh McLennan, the world’s largest insurance broker, said on Thursday it would exit all of its businesses in Russia, while its rival Aon suspended operations in the country. “We intend to transfer ownership of our Russian businesses to local management …
Almost extinct are the days when only men sat on U.S. corporate boards. But the speed at which boards have brought more women to the table has slowed, and it’s likely to be a decade before boards are evenly split …
The AM Best rating firm has downgraded the credit rating and the outlook for Florida Family Insurance and its subsidiary, Florida Family Home Insurance Co. The rating firm said the companies’ long-term issuer credit rating has dropped from “bbb+ (good)” …
This edition of International People Moves details appointments at AXA XL, Marsh and The Hartford. A summary of these new hires follows here. AXA XL Names Bewlay as Chief Executive Reinsurance, Succeeding Cooper AXA XL announced Nancy Bewlay has been …
