Acrimonious, Disruptive No-Deal Brexit Is Growing Risk, Warns Fitch

Ratings agency Fitch said on Thursday that it saw a growing risk of a bitter and economically damaging Brexit that could lead to a further downgrade of Britain’s sovereign credit rating. “We no longer believe it is appropriate to identify …

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President Trump Urges U.S. Suit Against Opioid Manufacturers

President Donald Trump said Thursday he wants the U.S. government to sue pharmaceutical companies that manufacture opioids as part of his efforts to halt an epidemic of drug addiction. Trump said he’d like to bring a federal lawsuit, rather than …

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Aon Names Wanat U.S. Commercial Lines Broking Chief

Global broker has appointed Brian Wanat as chief broking officer of U.S. Commercial Risk Solutions. In his new role, Wanat will have direct management responsibility for Financial Services Group, National Property, National Casualty, Aviation, Crisis Management, Marine and Aon’s Global …

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Broker Protean Risk Taps Marsh’s Sargeaunt as Director of Fintech, Payment Services

Protean Risk, the London-based specialist Lloyd’s broker for asset management, financial services and technology firms, has appointed Tristan Sargeaunt as director of Fintech and Payment Services, where he will spearhead the development of insurance solutions for firms in this area. …

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Worker Dies After Falling Into Vat of Oil Near Disney World

Authorities say a worker has died after falling into a vat of oil at a facility near Walt Disney World. Lt. Emanuel Curry of the Orange County Sheriff’s Office told the Orlando Sentinel the 61-year-old man slipped and fell into …

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Ex-Alabama Police Officer Sentenced to 10 Years for Insurance Fraud, Theft

A former police officer in Alabama who pleaded guilty to insurance fraud and burglary has been sentenced to 10 years in prison. The Montgomery Advertiser reports 51-year-old Leon Todd Townson was sentenced Aug. 13. The former U.S. Marine is one …

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Insurer Downgrades Jumped in 2017 But Were Still Outnumbered by Upgrades: A.M. Best

Catastrophic weather events in 2017 helped spur an increase in rating downgrades for the U.S. property/casualty (P/C) industry during the first half of 2018, according to an A.M. Best report. But the report also notes that overall ratings activity in …

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