Insurance Journal News Feed

Insurance Journal news feed

1. Natural-Disaster Insurance Gap Now Exceeds $420 Billion Globally

   The value of uninsured natural-catastrophe losses rose more than 7% globally last year to $424 billion, with North America the most exposed region, according to a fresh analysis. While insurance coverage has broadly kept pace with rising catastrophe exposure, the …

2. SEC, Musk Defend Settlement After Judge Cites ‘Red Flags’

   A proposed settlement between Elon Musk and the Securities and Exchange Commission to end the agency’s Twitter Inc. stake lawsuit came after almost a year of negotiations, attorneys for the agency said Monday after a judge raised concerns about the …

3. Business Moves: Buy of Fortegra Completed by Korean Insurer DB

   The Fortegra Group said its acquisition by South Korea’s DB Insurance Co. has been completed. Jacksonville, Florida-based Fortegra will operate independently and keep its existing leadership team as well as distribution relationships. “Agents, distribution partners, and customers will continue to …

4. Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete

   Brokerage Acrisure has filed a federal lawsuit, accusing a former employee of using employees and intellectual property to peal away at least 50 clients to a company he started—named after one Acrisure acquired in 2016. The Grand Rapids, Michigan-based global …

5. 97,000 More Connecticut Residents Will Have Medical Debt Erased

   More than 97,000 Connecticut residents will receive letters in the mail starting this week informing them that some or all of their medical debt has been erased. Governor Ned Lamont’s administration launched the program in partnership with the national nonprofit …