Monthly Archives: <span>May 2018</span>

NRA Should Name Teens in Suit Over New Florida Gun Law, State Says

The National Rifle Association failed to provide evidence that two 19-year-olds who wish to join in the group’s lawsuit over Florida’s new gun-control law would have their privacy violated or be put at risk of physical harm by being publicly …

AXA Raises $2.75 Billion in Year’s Biggest IPO

U.S. initial public offerings have the seismic changes in the insurance industry to thank for 2018’s biggest share sale. Axa Equitable Holdings Inc. sold 137.25 million shares at $20 each on Wednesday to raise $2.75 billion. That’s well short of …

Zurich Insurance CFO: ‘We Don’t Exist to Do M&A’

Zurich Insurance has no plans for a big merger, it said on Wednesday, despite speculation of a pick-up in dealmaking in the industry and that the Swiss company could get involved. The insurer’s comments came as it beat analysts’ forecasts …

AIG Shareholders Approve $43 Million Compensation for CEO Duperreault

American International Group Inc said shareholders approved a $43.1 million pay package for 2017 for Chief Executive Officer Brian Duperreault during the company’s annual meeting on Wednesday. A nonbinding resolution to endorse the executive compensation passed with 441,882,782 shares in …

Hawaii Insurance Commissioner Says Homes Destroyed by Kilauea Lava are Covered

Hawaii’s insurance commissioner has made it clear that homes destroyed or damaged in the recent lava flow into a Hawaii neighborhood are covered for the damage under homeowners insurance policies. Gordon Ito, who has been the state’s insurance commissioner since …

Former Zenefits CEO Surrenders Insurance License Following California Enforcement

Parker Conrad has surrendered his insurance license for his alleged role in licensing compliance violations that occurred at Zenefits during his tenure as CEO, California Insurance Commissioner Dave Jones announced on Wednesday. It was the conclusion of an enforcement action …

North Carolina Party Bus Owner Cited Over License, No Insurance After Passenger Death

A North Carolina party bus owner was cited for insurance and license plate problems after a college student fell out of the vehicle last week and died when she was hit by two cars. The Charlotte-Mecklenburg Police Department announced Monday …

Two Killed in Tesla Car Crash in Florida

A Tesla car crashed and caught fire in Fort Lauderdale, Florida on Tuesday, killing two people, local police said on Wednesday. A third person in the Model S sedan was taken to a hospital, the Miami Herald reported late on …

Texas Windstorm Association Seeking $175M Assessment for Harvey Losses

The board of directors of the Texas Windstorm Insurance Association has authorized staff to seek regulatory approval for a $175 million assessment to TWIA’s insurance company members for losses associated with Hurricane Harvey. The assessment OK’d by the association’s board …

Stolen Indiana Travel Trailers Worth $600K Recovered in Michigan

Michigan State Police say they’ve recovered 17 travel trailers worth about $600,000 that were reported stolen from northern Indiana. Police say the sheriff’s office in LaGrange County, Indiana, contacted them for help locating and recovering the trailers. Detectives in Indiana …