News

1. Carolina Investigation Busts Contractors for Tax Evasion, False Insurance Certificates

   For three years, undercover investigators watched as construction company owners in South Carolina met with a check-cashing company in parking lots, then walk away with bags of cash and fake insurance certificates, showing laborers were covered by workers’ compensation insurance. …

2. Risk Strategies Acquires New Jersey’s Corrigan Johnston Risk Advisors

   Risk Strategies, a national specialty insurance brokerage and risk management firm, acquired Corrigan Johnston Risk Advisors, an all-lines brokerage focused on transportation-related industries. Terms of the deal were not announced. Headquartered in Basking Ridge, New Jersey, Corrigan Johnston was founded …

3. UK-Based Broker KGJ Insurance Is Latest Acquisition for NFP

   NFP, a New York City-based insurance broker and consultant, has acquired UK-based KGJ Insurance Services Group Ltd. KGJ is a commercial insurance broker with specialization in combined risks for complex and non-standard programs. KGJ provides exclusive program facilities as well …

4. Connecticut Seeks Disaster Declaration for Flooding Caused by Ida

   Connecticut Governor Ned Lamont has submitted a request for a major disaster declaration to the Biden administration, seeking federal funds to help Connecticut recover from damage caused by the remnants of Hurricane Ida. The September 1 storm dumped as much …

5. Ex-Liberty University Spokesman Says He Was Fired for Raising Concerns

   A former spokesperson for Liberty University is suing the evangelical Virginia school after being fired, alleging in a lawsuit that his termination came in retaliation for voicing concerns that sexual misconduct accusations were mishandled. Scott Lamb, a vice president-level executive …

6. Aston Lark Acquires Birmingham Broker Bainbridge Collins

   London-based Aston Lark reported it has acquired Bainbridge Collins Ltd., a Midlands independent insurance brokerage focused on the mid corporate sector. Led by Cyril Gallagher, Bainbridge Collins was established more than 30 years ago in Birmingham. In addition to offering …

7. Global $10.5B Insurtech Funding Train Leaving Many Startups Behind, WTW Advises

   While global investment in insurtechs continues to rise, not all insurtechs are benefitting. Rather, much of the funding is focused on a relatively few startups. For example, in the second quarter, more than two-thirds of the total capital raised went …

8. As Strikes, Riots and Civil Commotion Risks Increase, Insurers Respond With Exclusions

   Insurers traditionally have offered protection against strikes, riots and civil commotion (SRCC) at no extra cost, but the increased frequency and severity of these risks means property insurers have begun excluding events of social unrest from policies, according to a …