Marsh McLennan Agency (MMA), headquartered in White Plains, New York, appointed Adam Balentine as President of National Business Insurance. Based in Kansas City, Missouri, Balentine leads the development of strategic growth initiatives for MMA’s property and casualty business, oversees the …
Category: Insurance Journal
Markets/Coverages: Fidelis Launches Construction Consortium to Cover AI Data Centers
The Fidelis Partnership (TFP), the Bermuda-based managing general underwriter, announced the launch of a consortium that targets risks associated with the construction of AI data centers. With estimates suggesting that the AI data center market could rapidly represent billions in …
Explosion at Mississippi Chemical Plant Causes Ammonia Leak, Evacuations
An explosion at a hydrogen and nitrogen product manufacturer in Mississippi on Wednesday caused an ammonia leak and forced nearby residents to evacuate, officials said. Mississippi Gov. Tate Reeves said in a post on the social platform X that emergency …
Louisiana Farm Bureau to Benefit From Demutualization, AM Best Says
AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Louisiana Farm Bureau Mutual Insurance Company (Louisiana Farm Bureau), an action that follows the …
Former Injury Lawyer and SC House Member Indicted on Charges of Defrauding Clients
A former South Carolina state lawmaker and injury lawyer has been indicted on federal allegations that he schemed to defraud his legal clients. According to court papers, a federal grand jury on Wednesday indicted former Rep. Marvin Pendarvis, a Democrat …
NAIC Announces Johnston Interim CEO as Anderson Departs
The National Association of Insurance Commissioners (NAIC) said late last week that its chief executive officer, Gary Anderson, stepped down to “pursue other endeavors.” Anderson left the NAIC on Oct. 29. NAIC Chief Regulatory Affairs Officer Jeff Johnston will serve …
WV OIC Accepting Input on American Modern’s 47% Auto Rate Increase Request
The West Virginia Office of the Insurance Commissioner is accepting comments about a proposed 47.38% average increase in auto liability rates filed by American Modern Property and Casualty Insurance Co. About 504 policyholders will be affected. Written comments will be …
Bank Sells Tompkins Agencies to A. J. Gallagher for $223 Million
Tompkins Financial Corp. has closed on the sale of its wholly owned subsidiary, Tompkins Insurance Agencies, Inc. (TIA), to Arthur J. Gallagher & Co. for approximately $223 million in cash. The transaction generates a pre-tax gain of $183 million, the …
Monkey Escape in Mississippi Gives Glimpse Into Secret World of Animal Research
The recent escape of several research monkeys after the truck carrying them overturned on a Mississippi interstate is the latest glimpse into the secretive industry of animal research and the processes that allow key details of what happened to be …
Nation’s Largest Fleet of Police Cybertrucks to Patrol Vegas
The nation’s largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private …