Featured Articles Blog

0

Uncategorized

Business Moves: Everest Completes Sale of Canadian Retail Operations to Wawanesa; Arthur J. Gallagher & Co. Buys New Zealand’s Albany Insurance Services

Article 0 Comments Everest Group Ltd., the Bermuda-based specialty re/insurer, announced the completion of the previously announced sale of its Canadian retail Insurance operations, to Wawanesa Mutual Insurance Co. In connection with the Everest acquisition, Wawanesa launched a unit called “WSI,” which comprise former Everest Canada operations. “The introduction of WSI marks an important moment in the Canadian specialty market,” said Evan Johnston, President & CEO of Wawanesa. “We saw a company with remarkable characteristics and an impressive track record. We’re excited to build on that success and help WSI in creating something even greater for organizations across our country and the communities they serve.” “Operating as a distinct organization within the Wawanesa group of companies, WSI retains the highly sought-after expertise, outstanding talent, and underwriting discipline that established Everest Canada as a respected player in the specialty market,” Wawanesa said. “Now, with the backing of one of Canada’s largest mutual insurers, WSI is redefining what’s possible in the specialty market, helping organizations navigate complex risks so they can thrive in a changing world.” WSI will continue to deliver specialty insurance solutions across cyber, accident and health, aviation, marine, energy, construction, directors and officers liability, professional liability, property, and casualty....

0

Uncategorized

Florida Commissioner Suspends A-Cap’s Atlantic Coast Life Over Surplus Issues

Article 0 Comments Two weeks after South Carolina’s insurance regulator took steps to place Atlantic Coast Life Insurance into rehabilitation, another state’s commissioner has suspended the company amid concerns about its finances. “In making the decision to suspend Atlantic Coast’s COA (certificate of authority), the Office determined that Atlantic Coast is impaired and that another insurance supervisory official, namely the South Carolina Department of Insurance, initiated rehabilitation proceedings…” reads a final order from Florida Commissioner Michael Yaworsky, signed Wednesday, Sept. 30. Atlantic Coast Life is domiciled in South Carolina but was authorized to do business in Florida in 2006 as a life and health insurer. It is part of Advantage Capital Holdings, or A-Cap, led by CEO Kenneth King, which is in the midst of a scheduled takeover by Oaktree Capital Management. The life insurer and its reinsurance subsidiary, Southern Atlantic Re, are overexposed to collapsed investment firm 777 Partners, and have failed to disclose some investments with affiliate firms, the regulators have said. King Just days after SCDOI Director Michael Wise petitioned a court to place the insurers into rehab earlier this month, A-Cap filed suit against Wise, charging that he was acting recklessly. A day later, A-Cap dropped...

Life insurers under pressure: Capgemini reveals nearly half of consumers are confused and unconvinced by policies 0

Uncategorized

Life insurers under pressure: Capgemini reveals nearly half of consumers are confused and unconvinced by policies

Technical language (37%), affordability concerns (35%), and lack of relevance to life stage (25%) among top barriers to purchasing life insurance Half of consumers plan to use generative AI tools to discover and compare life insurance products Nearly 40% of policyholders rarely hear from their life insurer after purchasing a policy, while half of those who discontinue coverage do so within the first three years Best-in-class life insurers, representing 10% of the industry, achieve 41% higher revenue growth and 12% lower lapse rates by combining consumer-led strategies with intelligence-powered operations Paris, France (Sept. 17, 2026) – The life insurance industry is facing a relevance challenge. While consumers recognize the importance of financial protection, many struggle to see how life insurance fits into their lives, preventing insurers from building lasting customer relationships. The World Life Insurance Report 2027, researched jointly by the Capgemini Research Institute and LIMRA, finds that 47% of consumers say they are considering purchasing a life insurance policy, yet more than 40% of those feel confused, uncertain, or unconvinced with the information they find. As a result, one in four drop out of the purchase journey before completion. The report, which surveyed more than 6,100 consumers worldwide, discovered...

0

Uncategorized

Passengers Avert Crash Tackling Pilot Who Stabbed Colleague

Article 0 Comments A pilot of a jet carrying more than 170 passengers to Tel Aviv stabbed his colleague and tried to crash the plane in what Israeli Prime Minister Benjamin Netanyahu branded a serious security incident. Catastrophe was narrowly avoided after a passenger and members of crew stormed the cockpit of the Flydubai plane that had taken off in Dubai and managed to stabilize the jet, after it plunged more than 14,000 feet (4,300 meters) in less than 30 seconds at almost the speed of sound. “They prevented a huge disaster,” Netanyahu said at a briefing on Wednesday. The jet later made an emergency landing in Tabuk, Saudi Arabia, where the attacker, whose identity has not been disclosed, is being questioned by local authorities. Read more: Murder-Suicides by Pilots Are Increasing Share of Aviation Fatalities The dramatic landing hundreds of miles from its planned destination followed a harrowing descent about two hours into the journey. The Boeing Co. 737 plummeted before it regained altitude and transmitted a general emergency distress signal, followed by a so-called unlawful interference call suggesting a possible hijacking, according to data from Flightradar24. After briefly entering Jordanian airspace, the flight turned back 180 degrees before...

The Advisory Advantage: Why Insurance Distribution Automation Must Go Beyond Speed 0

Uncategorized

The Advisory Advantage: Why Insurance Distribution Automation Must Go Beyond Speed

By the ReSource Pro Editorial Team — When insurance organizations talk about insurance distribution automation, the conversation gravitates almost immediately toward speed. How fast can a submission move through the pipeline? How quickly can a policy be checked and issued? These are legitimate efficiency questions, but they are also the wrong questions to anchor strategy in 2026. Key Takeaways for Distribution Leaders: The real threat: Competitors using AI to eliminate low-value work and focus on client advisory. The orchestration layer: Controlling how AI components connect to serve the client is now a strategic asset. The ReSource Pro view: Standardizing back-office operations is required to capture the advisory advantage. A panel discussion at InsurTech NY’s Spring Conference† surfaced something that many distribution leaders sense but rarely state plainly: the industry has been automating the wrong things first. Backend reconciliation, margin efficiency, data entry between systems — these are getting faster. The front-end advisory work that actually determines whether a client renews, refers, or defects is largely untouched. The problem is structural, not just tactical This distinction matters most to agency principals, COOs, and distribution strategy leaders. The value of a commercial lines broker has never actually been a fast submission. It has been the...

0

Uncategorized

Missouri Man Pleads Guilty to Destroying Property at Tesla Dealership

Article 0 Comments A Barnhart, Missouri man pleaded guilty to destroying property at a Telsa dealership in Kansas City, Missouri and to unlawfully possessing an unregistered destructive device. Kevin Harkins, 28, entered a guilty plea today in federal court to one count of malicious destruction of property related to arson and one count of unlawful possession of an unregistered destructive device. Harkins was initially charged by complaint on Sept. 12, 2025. According to court documents, on Feb. 13, 2025, at approximately 9:25 p.m., Kansas City, Missouri Police officers were dispatched in the vicinity of the Kansas City Tesla Center to investigate reports of the sounds of gunshots. At the same time, Kansas City Fire Department officials were also dispatched to the same location due to a reported fire. Police and Fire Department personnel discovered that a Telsa Cybertruck had sustained fire damage and had been shot with a firearm approximately nine times. Officers observed what appeared to be a flammable fluid on the vehicle, broken glass, a charred cloth, propane hand torch, and a cigarette lighter on the ground. Officers also noticed that a nearby Tesla Model Y vehicle had approximately seven bullet holes located on the hood. Officers also...

Nara Health Raises $14M to Reinvent Health Insurance Through AI Benefits Administration and Alternative Health Plans 0

Uncategorized

Nara Health Raises $14M to Reinvent Health Insurance Through AI Benefits Administration and Alternative Health Plans

Khosla Ventures leads the round as Nara Health crosses $600M in processed claims and more than 25,000 members on its health plans Nara (formerly Avant Health) is an AI-native benefits administrator revolutionizing healthcare through technology. We’re building an AI tech stack for the healthcare benefits ecosystem that makes quality care more accessible and affordable. Chicago, IL (Sept. 14, 2026) – Nara Health, the AI-native Third Party Administration platform rebuilding health insurance from the ground up, is pleased to announce $14 million [USD] in total funding across a pre-seed and seed round led by Khosla Ventures, with participation from Long Journey Ventures and Superior Studios, along with other investors and angels. 170 million Americans get health coverage through work each year, yet most struggle to use it. The average family premium was $27,000 last year, leading nearly half of insured Americans to skip healthcare altogether because they can’t afford it. Despite employers spending tens of thousands of dollars per employee annually on health benefits, the American healthcare experience remains slow, confusing, and reactive, held together by manual processes and fragmented software that reviews paperwork, processes claims, and leaves patients on hold when they call for answers about their coverage. Nara Health is...

0

Uncategorized

Michigan Transportation Company Sued for Sexual Harassment

Article 0 Comments Davis Cartage Co., a transportation, warehousing and logistics company headquartered in Corunna, Michigan, violated federal law by allowing its president of logistics to sexually harass two female employees at its Owosso, Michigan location, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit announced. According to the EEOC’s lawsuit, in 2023, the president of logistics, who is also on the board of directors and part owner of the company, passed over more qualified applicants to hire two young women whose photos he found on social media. He then subjected both women to harassing and possessive behavior, including regular comments on their appearance and dress; trying to discuss their personal lives; telling them they owed him for overlooking their criminal histories; inviting one or both to stay at his cabin, to go out drinking or to stay in his hotel room; closely monitoring them with the company cameras while they performed clerical work; and leaning over within inches of them at their desks. The suit also alleges Davis Cartage knew of the executive’s sexually harassing conduct and failed to correct it. In 2020, Davis Cartage received a complaint from a female employee who alleged that he had...

0

Uncategorized

Minnesota Settles Over Fraudulent Claims for Child Nutrition Funds

Article 0 Comments Minnesota Attorney General Keith Ellison announced that he has filed a civil lawsuit and an $18.5 million settlement of the civil lawsuit with Partners in Nutrition, d/b/a Partners in Quality Care (“PIN”), that resolves claims that the non-profit knowingly defrauded the State of Minnesota out of millions of dollars in federal child nutrition funds during and after the COVID-19 pandemic, in violation of the Minnesota False Claims Act. Federal child nutrition programs provide funding to ensure that children have consistent access to healthy, nutritious foods. Minnesota Department of Education (“MDE”) administers federal nutrition programs in Minnesota. Under federal program rules, “sponsors” are responsible for overseeing and managing food distribution sites. PIN applied for and sponsored hundreds of sites in the wake of the COVID-19 pandemic and submitted thousands of monthly claims to MDE based on the purported service of millions of meals to children. In the civil lawsuit, Ellison alleged that from October 2020 to February 2022, PIN took advantage of its role as food program sponsor by knowingly and repeatedly submitting false claims to MDE for meals that were not served and facilitating widespread fraud in the food distribution sites it claimed to be monitoring. In...

0

Uncategorized

Louisiana Manufacturing Company Sued for Disability Discrimination

Article 0 Comments Hunt Forest Products, L.L.C., a Ruston, Louisiana-based wood products manufacturing company, violated federal law when it terminated a laborer’s employment after learning he had a seizure while not at work, the U.S. Equal Employment Opportunity Commission (EEOC) alleged in a lawsuit. According to the EEOC’s lawsuit, Hunt Forest Products required the worker to undergo an examination because of a seizure he had in May 2023. The examining neurologist recommended that the worker refrain from driving or operating heavy machinery for six months. Although the worker’s duties did not involve these restricted tasks, and the worker was able to continue performing his job safely, Hunt Forest Products terminated him because of the restrictions. Such alleged conduct violates the Americans with Disabilities Act (ADA), which prohibits employers from discharging an employee because of their disability. The EEOC filed suit (EEOC v. Hunt Forest Products, L.L.C., Case No. 1:26-cv-03770) in the U.S. District Court for the Western District of Louisiana, after first attempting to reach a pre-litigation settlement through its conciliation process. Source: EEOC Topics Lawsuits Louisiana Manufacturing Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you!...