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AXIS and Stone Point Credit Launch Monarch Point Re, Raising Over $400M of Capital
AXIS Capital Holdings Ltd., together with its direct and indirect subsidiaries and branches, announced that it has partnered with Stone Point Credit Adviser LLC to launch Monarch Point Re, a newly created collateralized reinsurer. The launch was accompanied by a …
POSTED SEPTEMBER 29, 2023 6:58 PM |
Texas Comptroller: State Revenue Driven by Increasing Insurance Premiums
When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget earlier this year, Texas Comptroller …
POSTED SEPTEMBER 29, 2023 4:32 PM |
Keystone Adds Oklahoma’s Ascent to Growing Agency Network
Keystone, the participant-owned insurance agency network, has added Ascent Insurance Group (formerly LBV Insurance) based in Edmond, Oklahoma to its growing network of agencies. Ascent is a boutique style commercial lines insurance brokerage specializing in workers’ compensation and commercial insurance. …
POSTED SEPTEMBER 29, 2023 4:28 PM |
Invasive Spotted Lanternflies Found in Illinois, Threatening Crops and Native Tree
SPRINGFIELD, Ill. (AP) – Illinois is the latest state to find invasive spotted lanternflies, a winged insect that`s spreading across the eastern U.S. and is subject to squish-on-sight requests in New York and elsewhere. First detected in the U.S. nearly …
POSTED SEPTEMBER 29, 2023 4:18 PM |
Ohio Adopts Four International Building Codes
The state of Ohio has adopted four of the 2021 International Codes including the 2021 editions of the International Building Code, the International Mechanical Code, the International Plumbing Code and the International Existing Building Code. The decision comes after careful …
POSTED SEPTEMBER 29, 2023 4:15 PM |
AM Best Downgrades Credit Ratings of Michigan’s Wolverine
AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb-” (Fair) from “bbb” (Good) of Wolverine Mutual Insurance Company, based in Dowagiac, Michigan. The outlook of these Credit …
POSTED SEPTEMBER 29, 2023 4:10 PM |
Agents, Insureds Said Surprised by Nationwide’s 10,000 Nonrenewals in NC
In February, Nationwide Mutual Insurance filed notice with the North Carolina Department of Insurance that it would non-renew some 10,525 homeowner policies in the state due in large part to the growing risk from climate change and hurricanes. The move …
POSTED SEPTEMBER 29, 2023 3:51 PM |
Small Businesses Underestimate Cyber Risks Despite Increased Threats: IBC Survey
Most small businesses don’t believe they will experience a cyber attack, yet many employees are concerned they are putting their organizations at risk, according to a recent poll by Insurance Bureau of Canada (IBC). IBC’s 2023 Cyber Security Survey found …
POSTED SEPTEMBER 29, 2023 2:59 PM |
US Supreme Court Takes Up Case Over Corporate Trend Disclosures
The U.S. Supreme Court on Friday agreed to consider whether shareholders can sue companies for fraud when they flout a rule requiring them to disclose trends expected to affect their bottom line in a case involving a suit by hedge …
POSTED SEPTEMBER 29, 2023 2:43 PM |
Subway Restaurant Franchise in Manhattan Pays for Wage Violations, Retaliatory Firing
The operator of a Subway restaurant franchise in Manhattan’s Lower East Side who the Department of Labor said fired an employee during its investigation has paid damages to the employee and back pay to 18 employees, the department’s wage and …
POSTED SEPTEMBER 29, 2023 2:22 PM |
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