Monthly Archives: <span>September 2024</span>

Alera Group Acquires Louisiana’s Insurance Underwriters Ltd.

Alera Group announced the acquisition of Insurance Underwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits. IUL provides customizable insurance solutions designed to keep businesses competitive and …

Newsmax Settles Smartmatic Defamation Suit Over False Election Claims

Newsmax Media reached a confidential settlement of a lawsuit by Smartmatic, the voting machine maker that had alleged it was defamed by the news outlet’s false claims that its machines were rigged to help steal the 2020 U.S. presidential election …

Xceedance Acquires Illinois’ Millennium Information Services

Xceedance announced it has acquired Millennium Information Services, a property inspection and data analytics company based in Chicago. With the acquisition, the Xceedance Americas team adds nearly 200 team members and a nationwide contractor network of more than 1,300 inspectors, …

Ardonagh Marks Crucial Step Toward Completing A$2.3B Acquisition of Australia’s PSC

The Ardonagh Group, the London-based independent insurance distribution platform, announced that PSC Insurance Group Ltd.’s shareholders voted in favor of its proposed acquisition. The transaction, which is valued at A$2.3 billion (US$1.6 billion) and was first announced in May 2024, …

GEICO Can’t Sue or Void Invoices from Auto Glass Shops, Florida Supreme Court Says

In the long war between auto insurers and windshield repair shops, the Florida Supreme Court this week sided with glass companies, leaving GEICO with little choice but to ask lawmakers to change the law if it feels repair prices have …

AM Best Revises Outlooks to Negative for Members of Coverys Companies

AM Best has revised the outlooks to negative from stable while affirming the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) of Boston-based Medical Professional Mutual Insurance Co., and its …

AI Being Used to Scam Small Business Owners, Says Nationwide Survey

Just when employees have learned to ignore scammy texts and emails from the boss, along comes the next generation of impersonation using artificial intelligence. Cybercriminals increasingly use generative AI, including voice calls and video, to scam businesses. And small businesses …

FTC Crackdown on Companies Using AI Includes ‘Robot Lawyer,’ Content Generator

As its authority is routinely questioned, the Federal Trade Commission has filed complaints against five companies it said use artificial intelligence (AI) to “supercharge deceptive or unfair conduct.” “Using AI tools to trick, mislead, or defraud people is illegal,” said …

Britain Targets Russian LNG Sector With Fresh Shipping Sanctions

Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly. “Earlier this year, the …

Acrisure Launches Bermuda Operation, Led by Industry Veteran Scope

Acrisure, the Grand Rapids, Michigan-based insurance broker and fintech specialist, has launched an office in Bermuda to focus on wholesale insurance broking for its global clients. Trading as Acrisure Bermuda Ltd., the new business unit aims to complement current reinsurance …