National Section

CAC Specialty and Cobbs Allen Complete Merger

Specialty broker CAC Specialty and Cobbs Allen, a P/C and employee benefits broker, today announced the completion of their merger. The transaction creates a fully integrated specialty platform with the scale, resources and talent to serve a broad array of …

Major Texas Storm Surge Project Included in Defense Bill

Fourteen years after Hurricane Ike ripped through thousands of homes and businesses near Galveston, Texas — but mostly spared the region’s oil refineries and chemical plants — Congress has authorized the most expensive project ever recommended by the U.S. Army …

More Recalls Announced – For Cars, Chicken and Medications

U.S. and international companies have issued more recalls, for food, medicine, cleaning products and automobiles – and more recalls could be on the way. The Associated Press reported that Hyundai is telling the owners of more than 44,000 SUVs in …

Anger Building over Delays in Replacing Faulty CPAP Devices

A massive recall of millions of sleep apnea machines has stoked anger and frustration among patients, and U.S. officials are weighing unprecedented legal action to speed a replacement effort that is set to drag into next year. Sound-dampening foam in …

New Weed Products and Firms Mean Concerns, Opportunities for Underwriters

The legalized cannabis industry is rapidly evolving, with new, chemically concocted variants popping up almost monthly. On top of that, management of marijuana and hemp businesses is going through changes, with “weed cowboys” clashing with button-down capitalists – not to …

Bill Would Require Front-View Safety Cameras for New Vehicles

For several years now, new vehicles have been required to have rear-view cameras – a safety feature designed to help prevent autos and trucks from backing over children. But most vehicles on the road today do not have similar camera …

Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders

Investors who backstop Florida’s insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and push up insurance costs for residents. Ian’s landfall hammered Florida …

Citizens’ Early Estimate of $3.8B in Ian Losses; Florida OIR Suspends Use and File

Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims from the storm, although a few analysts and officials …

Truist Acquires Premium Finance Firm From Bank Holding Company

Truist Insurance Holdings Inc., one of the largest U.S. brokerages and a part of Truist Financial Corp., announced that it has agreed to acquire the national premium finance company BankDirect Capital Finance from Texas Capital Bancshares. BankDirect will now become …

Forged Signatures, Fake Policies? Lawsuits Raise Questions About Captive Plan

The owners of one of the oldest insurance agencies in Texas must have felt pretty surprised when they were named in a federal lawsuit brought by an AIG company, alleging the agency was part of an elaborate fraud that forged …

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