The New York State Department of Financial Services (DFS) has issued final guidance to New York-regulated domestic insurers regarding their management of the financial risks from climate change. After issuing a proposed version of the guidance in March, DFS received …
Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report. “October is typically considered a ‘second season’ for severe weather in …
AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” (superior) from “a+” (excellent) of the pooled members of Selective Insurance Group. Additionally, AM Best …
A chemical company has agreed to pay $34 million to compensate residents of a Vermont town for chemical contamination in groundwater and soil. The ChemFab plant in Bennington, owned by Saint-Gobain Performance Plastics, used industrial chemicals that spread throughout the …
Aston Lark, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced the acquisition of Philp Williams & Co. as the latest addition to the group. Philip Williams & Co. was established in …
The U.S. commercial auto insurance market turned in results for 2020 that were the best it has seen in several years, although it still did not achieve an underwriting profit. Despite several years of price increases and corrective underwriting actions, …
U.S. auto safety regulators are looking into a complaint from a Tesla driver that the company’s “Full Self-Driving” software caused a crash. The driver was beta testing the “Full Self-Driving” software, and the Tesla SUV went into the wrong lane …
USI Insurance Services has acquired Bellevue, Washington-based Griffin MacLean Insurance Brokers. Founded in 1981, Griffin MacLean is an independent insurance brokerage operation serving businesses and individuals throughout Washington and Alaska. Terms of the transaction were not disclosed. USI is one …
Alera Group, an independent, national insurance and wealth management firm, has acquired McSherry & Hudson Insurance Services, an independent, full-service insurance brokerage firm offering property and casualty, industry-specific risk management, surety, loss control, claims and employee benefits. Terms of the …
A jury is set to hear closing arguments on Monday in a trial in federal court in Cleveland focused on claims by two counties in Ohio that three major retail pharmacy chains – CVS, Walgreens and Walmart – fueled the …
