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Petersburg hotel operator files $28M claim in LeClairRyan bankruptcy case
Petersburg Regency LLC seeks relief in insurance dispute
Virginia hotel operator Petersburg Regency LLC filed a $28 million claim in the LeClairRyan bankruptcy case Thursday in Richmond, according to the federal court filing. Petersburg Regency is seeking relief from an automatic stay in LeClairRyan’s handling of an insurance dispute from 2003’s Hurricane Isabel. An automatic stay ensures equality of distribution by preventing one
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Genworth completes $1.8B sale of Canadian unit
The mortgage insurance deal is part of its effort in gain approval for China Oceanwide takeover.
Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD)
Clear and present dangers
Commercial insurance rates respond to cyberattacks, weather and #MeToo
In March, a Seattle software engineer hacked into Capital One’s servers, stealing personal data belonging to 106 million of the McLean-based bank’s customers and credit card applicants. Prosecutors would later say that the hacker was also found to possess terabytes of stolen data from 30 other organizations, including companies and universities. Cyberattacks and data breaches
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Alan I. Kirshner retiring as Markel Corp. executive chair
Steven Markel will succeed Kirshner as board chairman for the Henrico-based insurance holding company.
Hilb Group buys North Carolina employee benefits agency
Henrico-based insurance agency now has more than 90 offices in 21 states.
Markel buys fire safety and security company
Ashland-based VSC has more than 1,200 employees.
The Carlyle Group to take majority stake in Henrico-based insurance broker
The Hilb Group has made more than 60 acquisitions since 2015.
Towne Insurance acquires Richmond firm
Deal marks company’s 23rd acquisition.
Richmond area insurance agency acquires Carolina firm
The deal went into effect Dec. 1.
#MeToo impact
Companies scrutinize liability coverage after spike in harassment claims
The #MeToo movement has many businesses taking a harder look at their insurance policies.