Industry News

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Minnesota School District Sued by Parents of Students Who Were Sexually Exploited
January 17, 2020
The parents of two students are suing the Bemidji school district, alleging it was negligent in allowing a former assistant principal to sexually exploit their children. Brandon Bjerknes, who was arrested in 2017, is serving a federal prison sentence …

Brown & Brown Acquires Assets of Texas All Risk
January 17, 2020
Brown & Brown Inc. through its subsidiary, Hull & Company LLC, has acquired substantially all of the assets of Dallas-based Texas All Risk, a managing general agent (MGA) placing a wide range of property/ casualty insurance for businesses and …

Hurricane Dorian’s Bahamas Storm Toll: $3.4 Billion in Damages, 3 Years of Rebuilding
January 17, 2020
The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in coming months as it …

California Lawmaker Wants Probe of PG&E’s Chief Regulator
January 17, 2020
A state lawmaker is demanding an extensive review of the California Public Utilities Commission to determine whether regulators’ lax oversight enabled neglect at Pacific Gas & Electric that triggered catastrophic wildfires, a messy bankruptcy and …

California Sleep Apnea Company Pays $37.5M to Settle Kickback Lawsuits
January 17, 2020
ResMed, a San Diego, Calif.-based company that sells sleep apnea machines, will pay $37.5 million to settle allegations that it provided kickbacks to obtain customer referrals, federal prosecutors announced this week. The settlement covers five whist …

Forex Firm Travelex Resumes Customer-Facing Operations After Ransomware Attack
January 17, 2020
More than two weeks after a crippling ransomware attack forced Travelex staff to use pen and paper to calculate foreign currency exchanges, the company said the first of its customer-facing systems in Britain was up and running again. The cyber …

USG Adds Aguilar as a Producer in Arizona
January 17, 2020
USG Insurance Services Inc. has named Jay Aguilar a producer/broker in commercial lines in the Scottsdale, Ariz. office. Aguilar will work to expand USG’s Southwestern territory. Aguilar has 23 years of insurance industry experience, most recently at …

MGA Incubator Castel Taps Carlos from Arch Insurance as Head of Specialty
January 17, 2020
Castel Underwriting Agencies Ltd., the managing general agent and club-style MGA formation platform, has announced the appointment of Raoul Carlos as head of Specialty as it structures its underwriting cells and MGAs into a number of centres of excel …

Three Massachusetts Workers Shocked When Scaffolding Touches Power Line
January 17, 2020
Three people were injured, one critically, on Tuesday when scaffolding they were working with at a Massachusetts home came in contact with power lines, police said. Beverly police responded to a report that two workers had fallen from the roof …

SterlingRisk Insurance Promotes DelPrete to President of Programs
January 17, 2020
SterlingRisk Insurance, a Woodbury, N.Y.-based independently owned insurance brokerage, has promoted Geraldine DelPrete to president of Programs. According to SterlingRisk CEO David Sterling in a company press release, DelPrete’s background in reinsu …

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