Ontario Teachers’ Pension Plan (Lead ANV Investor) Assesses ‘Brexit’ Effect

The Ontario Teachers’ Pension Plan, one of the biggest investors in British infrastructure, said it is assessing daily the risk that Britain will leave the European Union and is considering hedging the currency risk on its investments. Ontario Teachers’, Canada’s …

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Ex-QBE Insurance Executive Sentenced to Jail for $2.6M Embezzlement Scheme

A former executive of QBE Insurance Group was sentenced on Thursday to 1-1/2 years in prison for conspiring to embezzle $2.6 million from the insurance company, some of which he used to buy a house and luxury vehicles. James Shea, …

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Amerisure Promotes Vaughn to AVP, Workers’ Comp Claims

Amerisure Mutual Insurance Co., based in Farmington Hills, Mich., has promoted Kimberly Vaughn to assistant vice president, workers’ compensation (WC) claims. In her new role, Vaughn oversees the day-to-day operations of the WC claims department. Vaughn began her career with …

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6 North Carolina Residents Accused of Staging Car Accident

Four North Carolina individuals have been arrested in connection with an alleged staged auto accident, according to North Carolina Insurance Commissioner Wayne Goodwin. Investigators are still seeking two other suspects in association with the case. Investigators accuse the group of …

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FEMA Denies Individual Assistance to Florida Tornado Victims

Some residents of the Florida Panhandle who sustained damage during two tornadoes that touched down in February will not receive individual assistance through FEMA. The News Journal reports that the Federal Emergency Management Agency denied the state’s request for individual …

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First Robot–Run Insurance Agency Opens for Business

Goodbye agency principals, producers and customer service reps, hello Roberto Siber, CPCU. Siber is the buff, blue-eyed and bald principal of the Buyonic Insurance Agency in Austin, Texas. This insurance android is more evidence that the future of mechanized businesses …

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3 Tornadoes Leave Behind Damage in Kentucky County

The National Weather Service says three tornadoes touched down in western Kentucky’s Christian County over the weekend when a severe storm passed through the area. The Kentucky New Era cited the National Weather Service in Paducah in reporting that an …

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Florida Trailer Park Residents Evacuated by Possible 60-foot Sinkhole

About 20 residents in six homes at a mobile home park along Florida’s Gulf Coast were evacuated Wednesday after a 60-foot-wide, 35-foot-deep hole opened in the ground. The residents at the Tarpon Shores Mobile Home Park in Tarpon Springs were …

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Progressive Insurance Snags Texas Uber Drivers Account

Uber Technologies Inc. will use Progressive Insurance to provide coverage for drivers in Texas beginning on Friday, in a pilot that could lead the ride-hailing market leader to diversify its U.S. insurance purchasing from its current sole provider, Uber and …

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Road, Bridge Damage from Louisiana Flooding Pegged at $20M

Louisiana’s transportation secretary says flooding from storms that struck the state in March caused up to $20 million in road and bridge damage. The Advocate reports Shawn Wilson described the damage in a House budget hearing, saying 455 roads and bridges were …

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Hays Promoted to VP, Chief Actuary at Great American Insurance

Great American Insurance Group, based in Cincinnati, Ohio, has promoted Lisa A. Hays to vice president and chief actuary of Great American’s Property and Casualty Group. She will succeed John Doellman who is retiring in May. Hays has over 25 …

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$5M Deal Reached Between California And TV component Makers

California Attorney General Kamala Harris says she has reached a nearly $5 million settlement with five electronics manufacturers accused of fixing prices on television and computer components. Harris’ office announced the deal with LG, Hitachi, Panasonic, Toshiba and Samsung on …

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Wage Hike Would Cost California Taxpayers $3.6B, Analyst Says

Raising the minimum wage in California to the highest statewide level in the nation would eventually cost taxpayers an additional $3.6 billion a year in higher pay for government employees, legislative analysts determined. The estimate was disclosed as an Assembly …

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Climate Change Easy Bet to be Hot Topic at Insurance Regulator Meeting

Mark down the Climate Change and Global Warming Working Group as the odds-on favorite committee to produce the most interesting chatter during the National Association of Insurance Commissioners meeting next week in The Big Easy. Climate change buzz has continued …

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40-Plus Structures Burned in Kansas, Oklahoma Wildfire

Officials say a wildfire that burned hundreds of square miles of rural land in Oklahoma and Kansas this week destroyed at least 41 structures in both states. Oklahoma Forestry Services spokeswoman Hannah Anderson says authorities in both states determined 16 …

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Former Kansas Insurance Company Employee Sentenced for Embezzlement

A former Topeka insurance company employee has been sentenced to a year and a day in federal prison for embezzlement. The U.S. attorney’s office says 47-year-old Erin Rebecca Thomas also was ordered to pay $215,000 in restitution. The former Topeka …

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Southeast Texas School District Estimates $12M in Flood Damage

The head of a Southeast Texas school district where flooding swamped an elementary campus with water 5-foot deep estimates $12 million in losses and little insurance. The superintendent of the Deweyville Independent School District said that efforts continue to resume …

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Model Home Fortified Against High Winds to Be Built in Tulsa

An insurer-backed property safety research organization announced it is helping to build a model home in Oklahoma that will be designed to withstand high winds and hail. The Insurance Institute for Business & Home Safety (IBHS) said the first FORTIFIED …

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CNA Adds Townsend as Sr. VP, Claim

Chicago-based CNA has appointed Joel Townsend as senior vice president, Claim. He will be head of claims customer service for CNA’s global Management Liability, Financial Institutions and Technology business units. Townsend previously served as senior vice president and worldwide specialty …

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Workers’ Comp Costs Decline in Arkansas

The state’s top insurance regulator has approved a decrease in workers’ compensation rates in Arkansas. Effective July 1, the overall loss cost in the voluntary market will decline by 4.3 percent and the overall average assigned risk will decrease by …

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Beazley Provides Data Breach Response Insurance in Canada

Beazley announced the launch of the company’s flagship Beazley Breach Response (BBR) product in Canada, which is data breach response insurance that protects the personal data of up to five million individuals per breach. Canada’s Digital Privacy Act, passed in …

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AIG CEO Hancock Sees Opportunity in MetLife Systemic Risk Win

A judge’s ruling that MetLife Inc. is not “too big to fail” opens up an opportunity for insurer American International Group Inc. to seek an exemption from the tag, AIG Chief Executive Peter Hancock said on CNBC on Thursday. However, …

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Utah Employers Must Accommodate Breast-Feeding Workers

Utah is joining more than a dozen states to require businesses to offer breast-feeding and pregnant employees accommodations such as extra breaks during work. Republican Gov. Gary Herbert signed a law this week that makes it a requirement for employers …

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Oregon PGE Sues Backers of Construction Bond for $180M over Shoddy Work

A Portland, Ore.-based electricity provider that fired the contractor building its natural gas plant in Boardman is suing the backers of a bond guaranteeing construction. The East Oregonian reported Portland General Electric filed the lawsuit March 23 against Liberty Mutual …

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Oregon Ice Cream Company Pays $55K Fine in EPA Settlement

The Oregon Ice Cream Co. has agreed to pay $55,000 for violating federal safety rules at its Eugene plant. In 2011, Environmental Protection Agency inspectors found that the company failed to meet industry safety standards for its ammonia refrigeration equipment …

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Company Passwords for Sale?

Employees don’t see it as their responsibility to safeguard corporate security processes and one in five would go so far as to sell sell their company’s passwords to an outsider. Of those who would sell their passwords, 44 percent would …

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CNA Names Chubb’s Townsend as Senior Vice President for Claims

Commercial property/casualty insurance carrier CNA has appointed Joel Townsend as senior vice president, Claim, responsible for claims customer service for CNA’s global Management Liability, Financial Institutions and Technology business units. Townsend has  25 years of experience in the claims area. …

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Class Action Settlements Topped $3 Billion in 2015: Cornerstone Research

There were 80 securities class action settlements approved in 2015, the highest number since 2010, and total settlement dollars rose to more than $3 billion, according to research by Cornerstone Research. The report, “Securities Class Action Settlements—2015 Review and Analysis,” …

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MetLife Victory Could Push AIG, Pru to Fight Systemic Risk Designations

After regulators slapped the too-big-to-fail label on MetLife Inc., Chief Executive Officer Steve Kandarian had several responses. One was to challenge government watchdogs in court — a move shunned by other insurers that got the TBTF tag. The CEO also …

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AIG’s United Guaranty Files for IPO

AIG’s mortgage insurance unit, United Guaranty Corp, filed for an initial public offering of up to $100 million with U.S. regulators, as part of a previously announced move to spin off the business. AIG announced in January it would spin …

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GM Wins Second ‘Bellwether’ Ignition Switch Trial

General Motors Co. won its second straight trial against drivers who blamed car wrecks on faulty ignition switches, boosting the company’s outlook for resolving hundreds of similar cases on more favorable terms. The crash of Dionne Spain’s 2007 Saturn Sky …

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Markel International Launches Fintech Business Protection Cover

Markel International, the London-based specialist insurance subsidiary of Markel Corp., has launched a policy offering comprehensive protection for businesses in the financial technology (fintech) sector, which includes trading platforms, forex platforms and peer-to-peer crowdfunding sites. In financial services businesses, where …

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Kenya Re Expects to Sell More Political Risk Cover in 2017, Boosting Earnings

Kenya Reinsurance Corp., the country’s only publicly traded reinsurer, expects increased political risk linked to presidential elections in the East African nation next year to boost earnings, Chief Executive Officer Jadiah Mwarania said. Kenya is scheduled to hold the vote …

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Everest Re Names Former Zurich Exec, Kerner, to Lead Strategy & Risk Mgmt.

Everest Re Group Ltd. hired Michael Kerner, who previously led Zurich Insurance Group AG’s general-insurance unit, to head the strategy and risk-management team as the Bermuda-based reinsurer reshapes management. Kerner will be an executive vice president, Everest Re said Wednesday …

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Zurich Chairman Predicts Improved Results; New CEO Greco Reviews Strategy

Zurich Insurance Group AG will see improving results this year after taking steps to cut costs and overhaul units following unexpected losses at its general insurance unit, according to Chairman Tom de Swaan. “The implementation of these measures is going …

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West Virginia Officials Propose $93K Fine Against Natural Gas Company

West Virginia environmental officials have proposed a $93,000 fine on an Antero Resources natural gas company for polluting waterways. In a consent order, state Department of Environmental Protection and Antero Midstream LLC agreed earlier this month on the proposed fines …

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West Virginia Pharmacists Reduce Hydrocodone Dispensing by Nearly 13M

West Virginia pharmacies are dispensing significantly fewer doses of the state’s most popular prescription painkiller, hydrocodone. The number of prescribed hydrocodone products dropped by nearly 13 million tablets last year, the Charleston Gazette-Mail reported, citing new data from the state’s …

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North Carolina Resident Accused of Using Insurance Claim Check for Personal Use

North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Alison Keli Underwood, 24, of Asheboro, N.C.; she is charged with one count of obtaining property by false pretense. NCDOI criminal investigators accuse Underwood of fraudulently obtaining $7,452.85 from Cincinnati …

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Imm Joins Maryland Insurance Administration as Public Affairs Director

Maryland Insurance Commissioner Al Redmer Jr. announced the appointment of Tracy Imm as the Maryland Insurance Administration’s (MIA) director of Public Affairs. In her role, Imm will serve as the agency’s point of contact for external and internal communications. Prior …

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Massachusetts Court Rules on ‘Equitable Contribution’ Case

Massachusetts’ top court ruled this month that a workers’ compensation insurer that has paid benefits under a policy has a right to pursue “equitable contribution” from a second insurer that also provided coverage to the same policyholder. The Massachusetts Supreme …

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DOL Sues U.S. Steel Corp. Over Injury Reporting Practices

The U.S. Department of Labor recently announced that it has sued U.S. Steel Corp. for allegedly retaliating against two Pennsylvania-based employees who violated the company’s immediate reporting policy for workplace injuries. The Department of Labor said on Feb. 22 that …

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Brown Promoted to Executive Vice President at Lockton Mountain West

Ted Brown has been promoted to executive vice president at Lockton’s Mountain West operation in Denver, Colo. Brown focuses on structuring solutions to optimize clients’ total cost of risk in the real estate, development, construction, and private equity industries. Brown …

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Arthur J. Gallagher Acquires Joseph Distel & Co. in Connecticut

Arthur J. Gallagher & Co. announced the acquisition of Joseph Distel & Co. Inc. in Farmington, Connecticut. Terms of the transaction were not disclosed. Founded in 1955, Joseph Distel & Co. is a managing general agent and wholesale insurance broker …

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OSHA, Anheuser-Busch’s N.J. Subsidiary Resolve Safety Violations

Federal labor officials have reached a deal with a New Jersey-based subsidiary of the world’s largest beer maker to settle claims of safety violations at a distribution warehouse. The Occupational Safety and Health Administration announced its deal with Anheuser-Busch Sales …

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West Virginia Coal Boss Should Face Maximum Sentence, U.S. Says

Former coal baron Donald Blankenship should face the maximum sentence of one year in prison for flouting mine-safety rules, prosecutors said, urging a judge to send a message to the coal industry. The government asked U.S. District Judge Irene Berger …

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Three Appointed to Texas Life/Health Insurance Guaranty Association Board

Texas Insurance Commissioner David Mattax has appointed three members to serve on the board of directors of the Texas Life and Health Insurance Guaranty Association. The board oversees the association, which helps to protect Texans if a life, accident or …

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Chubb Launches Healthcare Industry Practice, Taps Clouser to Lead

Chubb has launched a new industry practice providing insurance coverage and risk management options to the healthcare marketplace. Chubb’s Healthcare Industry Practice will offer a range of insurance products and services for healthcare customers, including hospitals, physicians, long-term care facilities, …

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Arkansas Man Sentenced to 15 Years in Prison for Insurance Fraud

An Arkansas man has been sentenced for 15 years in prison for two counts of insurance fraud, the state insurance department announced. Cody Martin, 29, pleaded guilty in Pulaski County Circuit Court in January to two counts of insurance fraud …

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Donegan to Step Down as Vermont Commissioner

Susan L. Donegan, who has been serving as commissioner of the Vermont Department of Financial Regulation (DFR) for past three years, will step down from her position. Donegan’s last day in office will be June 30, according to a department …

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Officials Raise the Number of Homes Destroyed in Kansas W

The biggest wildfire in Kansas history has been largely contained, but authorities said more homes were damaged than originally thought. The Kansas Adjutant General’s Office said that nine Barber County homes were destroyed in the fire, which started in Oklahoma …

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Motor Vehicle-Related Pedestrians Deaths Up in Ohio

A safety group’s report shows the number of pedestrians killed by motor vehicles in Ohio in the first six months of 2015 climbed and Ohio led all states in the percentage increase over the same period in 2014. The Dayton …

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Minot Acquiring Flood Protection Properties

Minot, N.D., has acquired more than 60 percent of the properties needed for a flood protection project that will begin construction next year. Finance Director Cindy Hemphill tells the Minot Daily News that the city has bought out 99 properties …

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Erhart, Rosen Promoted at Great American Insurance Group

Cincinnati, Ohio-based Great American Insurance Group promoted Sue A. Erhart to general counsel and Eve Cutler Rosen was named executive counsel within the company’s property and casualty legal group. Erhart will continue to have direct responsibility for the staff and …

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4 Parishes Added to Louisiana Disaster Declaration

Four more parishes have been added to a presidential disaster declaration that followed recent historic flooding in Louisiana. Sen. David Vitter’s office said that the latest additions are Jackson, Rapides, Red River and Sabine parishes. The disaster declaration makes public …

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MetLife Wins Court Appeal to Strike Down Systemic Risk Tag

MetLife Inc. beat back a U.S. attempt to label it too big to fail, which would’ve put America’s biggest life insurer under tougher government scrutiny and forced it to put more money in reserves. A federal judge in Washington struck …

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Hawaii Lawmakers: How Much Pot Is OK While Driving?

Hawaii lawmakers are asking how much marijuana a driver can safely consume before getting behind the wheel of a car. It’s an issue they want to tackle now that Hawaii is setting up medical marijuana dispensaries, so Rep. Cindy Evans …

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Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey

While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …

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First Autonomous Urban Drone Delivery in Nevada

A drone has delivered a package to a residential location in a small western Nevada town in what its maker says is the first fully autonomous, federally approved urban drone delivery in the United States. Flirtey CEO Matt Sweeney announced …

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New Mexico Weather Creating Dangerous Wildfires Conditions

Authorities are warning that weather conditions across much of New Mexico are creating conditions ripe for dangerous wildfires. A red flag warning has been issued for portions of southern, central and eastern New Mexico due to strong winds and low …

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Alliant Names Dobbs Vice President in Real Estate Group in California

Real estate specialist Mark Dobbs has joined Alliant Insurance Services as vice president within the company’s real estate group. Los Angeles, Calif.-based Dobbs will focus on organizations with portfolios spanning various product types. Dobbs’ background includes investment banking, real estate …

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Capp Joins Answer Financial to Sign More Business Partners

Tom Capp has joined the senior management team for the online auto and home insurance agency Answer Financial. Capp, as senior vice president of Business Development, will be working to grow the company’s network of business partners. Capp worked with …

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Split Supreme Court in Search of Birth Control Benefit Compromise

The U.S. Supreme Court called for additional briefing in a divisive clash over contraceptives and Obamacare, issuing an unusual order that suggests at least one justice may be eyeing a possible compromise. The order comes less than a week after …

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Insurance Safety Institute Finds Most Headlights Not Bright Enough

The Toyota Prius v is the only midsize car out of 31 evaluated to earn a good rating in the Insurance Institute for Highway Safety’s first-ever headlight ratings. The best available headlights on 11 cars earn an acceptable rating, while …

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AIG Executives’ Pay Trimmed for Missing Profit Goals

American International Group Inc., the insurer being pressured by activist investors to split up, cut short-term incentive pay for Chief Executive Officer Peter Hancock by 29 percent last year as he missed profit targets. The CEO received $2.5 million from …

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U.S. Promises Rules for Makers of Driverless Cars Within Months

U.S. regulators are making progress and will begin issuing guidelines to help the introduction of self-driving car technology within the next few months, Transportation Secretary Anthony Foxx said. The rapidly developing technology promoted by companies such as Google, Tesla Motors …

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AmWINS’ MGA Unicorn Names Nightingale as CEO; Cashen as Motor Fleet U/W

Charlotte, N.C.-based broker AmWINS Group Inc. announced the appointment of Darren Nightingale as chief executive officer of its London-based managing general agent, Unicorn Underwriting. Nightingale will be joined by Julian Cashen from Liberty Underwriting as class underwriter, motor fleet. Together …

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Bermuda-Based Artex Buys Hexagon Insurance PCC, to Boost ILS Capability

Artex Risk Solutions announced it has entered into a definitive agreement to acquire the cores of Guernsey-domiciled Hexagon Insurance PCC Ltd. and its subsidiaries. All regulatory approvals have been received and the deal is expected to close on March 31, …

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Insurance Claims from China’s Tianjin Port Blasts Rise to $3.5B: Swiss Re’s ‘sigma’

Insurance payouts from the chemical blasts at the Chinese Port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. The estimate of …

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Legacy Specialist Compre Arranges Deals with QBE and German Mutual

Compre, the London-based insurance and reinsurance legacy specialist, announced the signing of an agreement to acquire QBE’s share of the Ridgwell Fox & Partners’ (RFP) pool legacy reinsurance business. The transaction is structured as a loss portfolio transfer, to be …

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Ideas, Innovation and Mentorship Mix at Global Insurance Accelerator

Iowa, and Des Moines in particular, in the 1980s fostered a business climate that enabled insurance and financial institutions to prosper there. Today, the focus is on creating an environment that supports innovation and entrepreneurism in businesses that serve the insurance industry. “Des Moines …

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South Carolina Flood Relief Fund Awarding $760K to 18 Charities

South Carolina’s One SC relief fund is awarding $760,000 to 18 charities that are helping people recover from last October’s historic flooding. The awards announced Monday represent the second round of grants from the fund Gov. Nikki Haley launched in …

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Atlanta Airport, Uber Battle Over Background Checks for Drivers

A battle over background checks for Uber drivers at the world’s busiest airport comes as cities like Los Angeles and Austin, Texas, consider more thorough screenings to prevent criminals from getting behind the wheel. Uber has objected to the Atlanta …

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Scott Rejects CFO’s Pick for Florida Insurance Head, Application Reopened

Florida Gov. Rick Scott made it known Tuesday that his choice for the next Florida insurance commissioner would not be State Representative Bill Hager. “I won’t second it,” was Scott’s quick response to Chief Financial Officer Jeff Atwater’s motion to …

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Ames & Gough Hires Sinks as Broker in Virginia

Ames & Gough, a specialty insurance brokerage based in McLean, Virginia, has hired Cady M. Sinks as a broker. Sinks has more than 12 years of experience in risk and insurance services. At Ames & Gough, she is responsible for …

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Koeleveld Joins NYS Department of Financial Services as General Counsel

Celeste Koeleveld has been appointed general counsel at the New York State Department of Financial Services (DFS). Koeleveld will lead DFS’s Office of General Counsel and be responsible for all legal matters in the agency, reporting directly to the superintendent. …

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Startup Slice, Offering Insurance for On-Demand Workers, Raises $3.9M

Slice Labs Inc., an instech startup set to launch an on-demand platform to sell insurance to participants in the on-demand economy, said it has secured $3.9 million in seed funding led by Horizons Ventures and XL Innovate. The Slice on-demand …

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Self-Driving Cars to Create Long Term Challenges for Auto Insurers: Moody’s

Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10 years, a benefit for auto insurers. Longer term, self-driving …

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Indictment: Former N.J. Insurance Salesman Stole Elderly Woman’s Savings

An insurance salesman in New Jersey whose license was revoked for defrauding elderly clients is now facing charges that he stole the $305,000 life savings of a 90-year-old family friend, state authorities said Monday. Robert Berlin faces several counts in …

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Former Iowa Firefighter Pleads Guilty to Insurance Fraud

A former Iowa firefighter has pleaded guilty to insurance fraud related to a string of cases spanning Buchanan, Clayton and Delaware counties, the Iowa Department of Insurance reported. Terry Russell Groth, a former Strawberry Point firefighter, entered the plea on …

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Unertl Joins Chicago’s Alper Services asBusiness Development Associate

Alper Services, headquartered in Chicago, has added Matt Unertl as business development associate. With 11 years of experience in the industry, Unertl most recently worked as a producer at a large international insurance broker where he designed and implemented cost-sustainable …

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USGS Report: North Texas Earthquake Risk ‘Elevated’

A U.S. Geological Survey report concludes the risk of earthquakes for the Dallas-Fort Worth area is higher than it’s ever been. The USGS review incorporates “induced” earthquakes into federal seismic hazard maps. That refers to quakes caused when wastewater from …

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Japan Opens Door to ‘Fintech’ Revolution with Plans to Ease Investment Rules

A laggard in embracing the ‘fintech’, or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals’ cash deposits. Strict regulation, …

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Kansas Forest Service: Giant Wildfire Mostly Contained

The biggest wildfire in Kansas history is largely contained, although firefighting efforts could be hindered by more gusty winds. The Kansas Forest Service says crews were patrolling areas hit by the wildfire that has burned at least 620 square miles …

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Why Companies Won’t Be Opting Out of Opt-Out Anytime Soon

A recent ruling by the Oklahoma Workers’ Compensation Court undercutting so-called “opt-out” systems has set off a flurry of speculation about such systems, including whether this ruling signals the beginning of their end. The short answer is: no. While this …

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EPIC Adds McKenzie to Southeast Benefits Consulting Team

EPIC Insurance Brokers & Consultants (EPIC), a retail property, casualty insurance brokerage and employee benefits consultant, announced today that Stephen McKenzie has joined the firm’s Employee Benefits Consulting team in Atlanta. Joining as a Benefits consultant, McKenzie brings 6 years of employee benefits …

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Cross Insurance Adds 2 New Account Executives in Maine

Cross Insurance, an insurance agency headquartered in Bangor, Maine, has hired Abram Treadwell as account executive/Personal Lines and Sean Doyle as account executive/Commercial Lines. Both will be based in Cross Insurance’s Lewiston, Maine, office. Treadwell has more than a decade …

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Ash from Southwest Alaska Volcano Rises 20,000 Feet

A remote and active volcano on Alaska’s Aleutian Islands erupted, sending ash 20,000 feet into the air, scientists said. The U.S. Geological Survey says the Pavlof Volcano, which is about 600 miles southwest of Anchorage and roughly 40 miles from …

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Take1 in California Now a Lloyd’s Cover Holder

Take1 Insurance announced that it is now a cover holder with Lloyd’s of London to provide excess liability coverage capacity of up to an additional $5 million in limits. Minimum rates start at $750 per each million dollars of coverage. …

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The Top 5 Drone Markets and Future of Commercial Drone Use

There could be 7 million small drones in the sky by 2020, according to U.S. aviation officials, who believe that as many as 2.7 million of them will be used for commercial purposes. These same officials predict that small unmanned …

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Arthur J. Gallagher Acquires Continuum Solutions in New York

Arthur J. Gallagher Risk Management Services Inc, the retail property/casualty brokerage operation of Arthur J. Gallagher & Co., announced the acquisition of Continuum Solutions Ltd. in New York City. Terms of the transaction were not disclosed. Continuum Solutions provides business …

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British SME Owners Develop Contingency Plans for Potential ‘Brexit’

Above a factory floor of machines carving metal to within a millionth of a meter, Stephen Cheetham is preparing his company for the unknown: a British exit from the European Union. Since the government announced a referendum on Britain’s future …

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CEO of UK-Based Aviva Paid $8M in 2015, More Than Double His 2014 Paycheck

British insurer Aviva chief executive Mark Wilson’s take-home pay more than doubled to 5.67 million pounds ($8.1 million) last year, after the purchase of rival Friends Life, Aviva’s annual report showed on Tuesday. Aviva completed the 5.6 billion pound acquisition …

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AmWINS Gets Backing for Unicorn MGA from Berkshire Hathaway International

U.S.-based global insurance distributor AmWINS Group Inc. announced it has secured backing from AA+ rated Berkshire Hathaway International Insurance Ltd. for its London-based managing general agent (MGA), Unicorn Underwriting, to write motor fleet business. Unicorn will focus initially on specialist …

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Marketform Commited to All Current Underwriting Lines After Strategic Review

Specialist Lloyd’s underwriter Marketform has confirmed its commitment to all its current underwriting lines after completing a strategic review. These remaining lines are: accident & health, travel; bloodstock & livestock; cargo; financial lines; marine & energy liability; marine hull & …

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Hedge Funds Settle Press Release Hacking Claims for $18M

A Moscow-based hedge fund manager, his investment firms and two Paris-based funds have agreed to pay nearly $18 million to resolve a U.S. regulator’s claims that they engaged in insider trading using hacked press releases from newswire services. The U.S. …

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Federal Disaster Declared in 3 Mississippi Counties After Floods

President Barack Obama has declared a disaster in three Mississippi counties following flooding this month. Residents in the Bolivar, Coahoma and Washington counties can apply for individual assistance, including grants for temporary housing and repairs worth up to $33,000, as …

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Miner Killed in Eastern Kentucky Mining Accident

State officials say an eastern Kentucky coal miner has died in an accident at a Harlan County mine. A statement from the Energy and Environment Cabinet says 48-year-old Mark Frazier of Line Fork died Friday after being hit by falling …

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Swiss Re Corporate Solutions Adds Southern California Aviation Team

Swiss Re Corporate Solutions has established a regional aviation insurance team that operates out of the Santa Ana, Calif. office. Swiss Re Corporate Solutions offers a range of aviation insurance products, from physical aircraft damage insurance to liability coverages for …

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Arkansas Orders Florida Health Plan to Stop Selling in State

Insurance Commissioner Allen Kerr has issued a cease and desist order against Health Plan Intermediaries Holdings LLC., dba Health Insurance Innovations (HII), a Tampa, Florida-based company, alleging the company has used fraudulent and dishonest practices in attempting to sell short-term …

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U.S. Seismic Risk Maps Now Include Earthquakes Caused by Humans

Earthquakes caused by human activity will now be included in the U.S. Geological Survey’s seismic risk maps, the agency said on Monday after a sharp rise in temblors linked to wastewater disposal wells used by the oil and gas industry …

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Uber Launches Service in Montpelier, Vermont

The ride-hailing service Uber is now operating in Montpelier, Vermont. The San Francisco-based company says riders requesting a car in Montpelier can be dropped off at points outside the city, including in Barre, Hyde Park, Waitsfield and Charlotte. Mayor John …

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Pioneer Bank to Acquire Anchor Agency in New York

Pioneer Bank, based in Troy, New York, announced that it will acquire Anchor Agency Inc., an independent insurance agency in Albany, New York. Terms of the transaction were not disclosed. Established in 1960, Anchor Agency has been providing personal insurance, …

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ISO Introduces Drone Coverage Options for Commercial Inland Marine Market

ISO has launched inland marine insurance forms for businesses using commercial drones to protect them from the costs potential crashes, including damage to the drones, their equipment, and their cargo. The new ISO forms offer underwriting tools to address commercial …

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China’s Anbang Insurance Ups Offer for Starwood Hotels to $14B

China’s Anbang Insurance Group Co. has raised its offer for Starwood Hotels & Resorts Worldwide Inc. to almost $14 billion in its latest challenge to the U.S. hotel operator’s merger with Marriott International Inc. The bidding war for Starwood has …

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FEMA to Louisiana Flood Victims: Don’t Wait to Begin Repairs

The Federal Emergency Management Agency is urging Louisiana residents whose homes were damaged during recent floods not to wait for a FEMA inspector before beginning to clean up and conduct repairs. FEMA spokeswoman Deanna Frazier said in a news release …

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Federal Disaster Aid OK’d for 6 More Texas Counties

Six more Texas counties hard-hit by flooding and severe storms this month are now eligible for federal disaster aid. The Federal Emergency Management Agency announced that Erath, Gregg, Harrison, Hood, Marion and Parker counties have been added to a federal disaster …

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Louisiana Governor Seeks Disaster Declaration for 9 More Parishes

Gov. John Bel Edwards has asked President Barack Obama to amend the federal disaster declaration for the state to include nine additional parishes: Catahoula, East Carroll, Franklin, Jackson, Lincoln, Rapides, Red River, Sabine, and St. Helena. In a news release, …

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South Dakota Bill Allowing Insurance Tax Credits for Scholarships Signed

South Dakota insurance companies would get tax credits for donating to private school scholarships under a measure Gov. Dennis Daugaard signed into law, providing the financial backing for a school choice program that supporters say gives parents an opportunity to …

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Hospital in Iowa City Reports Patient Information Breach

An Iowa City hospital is warning patients that some of their personal information may have been accessed through a computer virus. The Iowa City Press-Citizen reports an investigation revealed that a computer virus that is designed to capture personal data …

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Worldwide Facilities Adds Collins, Sheehan in Dallas

National wholesale brokerage and managing general agent Worldwide Facilities LLC is adding two new members to its team in Dallas Philip Collins joins Worldwide Facilities as senior vice president, Financial Services. With more than a decade of experience placing risk …

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Oklahoma Insurance Commissioner: Man Scammed Moore Tornado Victims

An Oklahoma City man is facing felony charges for scamming a Moore couple out of $3,577.53. The money was part of the insurance settlement the couple received after their home was damaged in the March 25, 2015 tornado. “We will …

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March 31: Deadline for Early Registration for Global Insurance Symposium

The early bird registration deadline for the third annual Global Insurance Symposium is Thursday, March 31. The Global Insurance Symposium will be held on April 26-28, 2016 in Downtown Des Moines, Iowa. It is hosted by the Iowa Insurance Institute, …

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Chicago Auto Insurance Fraud Ring Can Be Tried in Iowa: Court

Three people from Wisconsin or Illinois who are charged with operating a car insurance fraud ring can be prosecuted in Iowa, even though they never set foot in the state, the Iowa Supreme Court ruled. Police say the trio staged …

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Delaware Prohibits Limiting Transgender Health Care Coverage

Insurance companies in Delaware will be prohibited from limiting health care coverage for transgender individuals. The News Journal of Wilmington, Delaware, reports that Delaware has become the 15th state in the country to prohibit private insurers from denying, canceling, terminating …

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New Jersey Bill Would Make Texting While Walking Illegal

Jared Schumacher is among the hundreds of thousands of New Jerseyans who routinely use electronic devices to text, listen to music or do other tasks as they walk outdoors. But if a “distracted walking” measure recently proposed by a state …

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Utah Woman Files Suit Against Polygamy Reality TV Show for Trespassing

A Utah woman who is part of a polygamous group alleges that makers of a reality TV show barged into her house without permission and pressured her daughter into being in a series about people leaving polygamy. Susan Nelson alleges …

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Energy Downturn Driving Populous from Wyoming

More people are leaving Wyoming than are coming to the state in the wake of thousands of jobs being lost in the fossil fuels extraction industry, and it’s a trend that an economist doesn’t see reversing until oil and gas …

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Washington Man’s Suit Claims Medical Device Caused Brain Damage

A Washington man is suing a California company, claiming its medical device used to treat aneurysms malfunctioned and caused him to suffer brain damage. The Penumbra Coil 400 was used to treat an aneurysm Dennis Montgomery suffered in 2013, according …

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How to Use Social Media, Surveillance to Catch Workers Compensation Lies

As workers’ compensation fraud costs top out at an estimated $7.2 billion a year, according to the National Insurance Crime Bureau, insurers are looking at ways to combat the crime. There are several warning signs that a workers’ compensation claim …

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Ironshore International Buys Sydney-Based Savannah Insurance Agency

Ironshore International has acquired the Savannah Insurance Agency of Sydney, Australia, effective immediately. The Savannah Agency team of underwriters will join Ironshore Australia offices, broadening its regional presence by offering select specialty business lines. Katherine Simmonds, managing director of Ironshore …

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Fairfax Financial to Buy 33% Stake in India’s Bangalore Airport for $322 Million

Indian airport operator GVK Power & Infrastructure Ltd. said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings Ltd., helping cut debt. The shares rose. Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 …

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Chubb Appoints P&C Risk Engineering Leadership Team in Asia Pacific

Chubb has appointed Darren Cant as its head of Risk Engineering for Property and Casualty in Asia Pacific. He will continue to lead the region’s P&C Risk Engineering Services team, comprising 32 risk engineers based in 10 countries. In addition, he will retain his …

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Most Doctors Overprescribe Opioids: NSC Survey

Most doctors– 99 percent — are prescribing highly addictive opioid medicines for longer than the three-day period recommended, according to a national survey. Twenty-three percent prescribe at least a month’s worth of opioids. Also, according to the survey by the …

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Carpenter Launches New Version of Client Portfolio, Risk Management Platform

Guy Carpenter & Co. announced the launch of GC AdvantagePoint® 2.0, the latest release of its client portfolio and risk management platform. With GC AdvantagePoint 2.0, clients are able to easily leverage the technology to make strategic decisions through the …

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ISO to Collect Terrorism Insurance Data for Treasury

The property/casualty insurance data and rating organization ISO will collect and help analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with gauging the effectiveness of the federal terrorism risk insurance program. ISO, …

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Prepare for Disruption in High Net Worth Insurance Segment

ACE’s $28.3 billion purchase of Chubb will create a major disruption in the luxury insurance market.  When the integration of the two insurers is complete, the new company is anticipated to control approximately $6 billion of annual premiums on personal …

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Collector Comics Worth Over $200k Stolen From Georgia Store

Rare “Justice League” and “X-Men” comic books valued at more than $200,000 have been stolen from a central Georgia store. Will Peavy, owner of Comics Plus in Macon tells WMAZ-TV that someone broke into the store on the night of …

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West Virginia Governor Approves Stiffer Penalties for Passing School Buses

West Virginia Gov. Earl Ray Tomblin has approved increased penalties for passing stopped school buses. Tomblin signed the bill March 24. On a first offense, drivers passing a school bus that stopped to pick up or drop off students could …

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Tennessee Doctors Sued for Operating Pill Mill, Defrauding Government

The United States government and the state of Tennessee have sued a Lenoir City chiropractor and a Manchester doctor, accusing them both of fraud and operating pill mills. Officials with the U.S. Attorney’s office in Nashville say the men are …

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The Final 2: Bragg, Hager Last Men Standing for Florida Commissioner Job

For the first time in 13 years, Florida is preparing to appoint a new insurance commissioner. The pool of 55 candidates has been whittled down to just two. Per recommendation of the Florida Cabinet, Jeffrey Bragg and Florida State Rep. …

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New York Set to Legalize Professional Mixed Martial Arts

New York’s Assembly voted 113-25 on March 22 to legalize mixed martial arts, clearing the way for fights late this year and expanding the combat sport into the last state to still prohibit it. New York Gov. Andrew Cuomo supports …

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Penn. Encourages Motorcyclists to Take Actions to Reduce Risk This Spring

Pennsylvania Insurance Commissioner Teresa Miller is advising all drivers to be aware of motorcycles, as warmer weather means more motorcyclists on Pennsylvania roadways. Miller is also encouraging motorcyclists to consider safety measures which can save lives, reduce injuries, and save …

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Security Worker Dies, Possibly from Nitrogen Exposure, in Ohio Steel Plant

A security worker at a steel plant in Ohio may have died from nitrogen exposure, federal investigators said. The Occupational Safety and Health Administration said the 32-year-old worker was found dead inside TimkenSteel’s Faircrest Plant in Canton on March 20. …

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Lawyers Seek Mercy for Ex-New York Senate Leader Skelos and Son

New York’s former Senate leader and his son, who were convicted alongside one another on charges that the once-powerful Republican used his office to extort about $300,000 in salary and other benefits for the son, asked a federal judge on …

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Iardella Joins Arthur J. Gallagher as VP, Investor Relations

Itasca, Ill.-based Arthur J. Gallagher & Co. has added Raymond Iardella as vice president, Investor Relations. Iardella spent the last 13 years in various roles within the insurance, equity research and asset management industries. Most recently, he was an analyst …

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Homes Damaged by Severe Storms in Northwest Arkansas

Three homes were damaged and another was destroyed in northwest Arkansas when severe weather swept through the area. The Washington County Sheriff’s Office says the damage was reported late on March 23 in Evansville, which is about 35 miles west …

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Higginbotham, Capps Insurance Agency Merge

Independent insurance broker Higginbotham, headquartered in Fort Worth, and Mount Pleasant, Texas-based Capps Insurance Agency have joined forces. Higginbotham’s partnership with Capps brings its total number of employees to 750 in 24 offices throughout the state. Both firms have long …

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State Farm Latest Company to Stop Donating to N.J. Rep. Garrett

Add the nation’s largest property-casualty insurer to the growing list of financial companies that won’t be donating to U.S. Representative Scott Garrett in the wake of his alleged anti-gay remarks. State Farm Mutual Automobile Insurance Co., which contributed $2,000 to …

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Archdiocese in Washington Settles 8 Abuse Cases for $9M

The Seattle Archdiocese in Washington will pay just over $9 million to eight women who were sexually abused as children by a former priest in Whatcom and Skagit counties. The abuse occurred between 1968 and 1974 at churches in Burlington, …

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Investor Group Urges California to Delay Retirement Plan

California should delay action on a proposed state-run retirement savings plan for private-sector employees because it could end up leaving taxpayers on the hook, the Investment Company Institute said in a letter Thursday to state Treasurer John Chiang. The program, …

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Wells Media’s Dunford Departs

San Diego-based Wells Media Group announced that Mitch Dunford, chief executive officer, has resigned to pursue other career opportunities. Dunford, a former San Diego police officer, has been with Wells Media for 15 years. After leaving the San Diego police …

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2015 Global Insured Losses Lowest Since 2009 Despite El Niño Effects: Carpenter

One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and flooding in …

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10 ACP Re Insurers Miss Deadline; A.M. Best Places Ratings Under Review

A.M. Best said it has placed under review with negative implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of ACP Re Ltd., based in Hamilton, Bermuda and 10 of its reinsured …

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Lloyd’s Insurers Lead New Trend to Sell Legacy Portfolios: Willis Towers Watson

The majority of Lloyd’s businesses (77 percent) are considering legacy portfolio disposals, with more than half of firms based in western Europe (53 percent) expecting to make at least one sale in the next three years, according to Willis Towers …

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OSHA Issues Final Rule on Silica Exposure Protections; Industries Vow to Overturn

Capping a decades-long effort, U.S. workplace regulators on Thursday announced a final rule to boost protections against occupational exposure to crystalline silica, a carcinogenic dust ubiquitous in construction, foundries and fracking. Some industry groups have vowed to fight it in …

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How Much Do U.S. Health Insurance Tax Breaks and Subsidies Cost?

U.S. taxpayers will fork over $660 billion this year to subsidize health insurance for people under 65, the vast majority of whom have coverage through their employers, the Congressional Budget Office said on Thursday. In its most comprehensive report on …

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Judge Grants VW More Time for Diesel Fix

Volkswagen AG was given four more weeks to reach an agreement with regulators for getting 600,000 diesel vehicles off U.S. roads as it faces hundreds of lawsuits for rigging pollution control systems to cheat emissions tests. U.S. District Judge Charles …

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Obamacare Exchanges Enrolled Estimated 12 Million This Year

About 12 million people will be covered through Obamacare’s insurance marketplaces this year, the Congressional Budget Office said Thursday in a new estimate, a sign of the government’s continuing difficulties in getting people signed up for insurance under the 2010 program. …

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Re/Insurers Must Respond to Evolving Terrorist Risk with Relevant Products: JLT

The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty Ltd. Indeed, evidence that insurance has absorbed …

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Ageas UK Appoints Cardinus Risk Management to Provide Risk Surveys & Platform

Ageas UK has hired Cardinus Risk Management to provide both risk management survey software and on-site survey services to support commercial lines underwriting. Risk surveys, which are obtained by a visit to a client’s business, are an important part of …

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Chubb’s Overseas General Appoints Puleo as Head of Custom Industry Solutions

Chubb announced that Bill Puleo has been appointed senior vice president, head of Custom Industry Solutions for Overseas General Insurance, the company’s international general insurance business, with immediate effect. In his new role, Puleo will be responsible for leading the growth and …

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North Carolina-Based Duke Energy to Turn Pig Poop Into Power

Duke Energy Corp. announced plans to expand its renewable energy from livestock waste, adding poop power to investments the country’s largest electric company has made in whirring wind turbines and acres of solar arrays. The Charlotte-based utility said it contracted …

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OSHA Cites West Virginia Saw Mill for Safety, Health Violations

Federal regulators have cited a Princeton saw mill for alleged workplace safety and health violations, including a lack of protective equipment worn during the operation of a chainsaw. The Occupational Safety and Health Administration says in a news release that …

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South Carolina’s Clemson University Settlement Includes Anti-Hazing Program

South Carona’s Clemson University has agreed to create more anti-hazing programs as part of a lawsuit settlement involving a former soccer player. The Greenville News reported the school will spend $40,000 on the programs after a female soccer player said …

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Safety National Appooints Divine as Sr. VP – Finance

Safety National Casualty Corp., based in St. Louis, Mo., has appointed Steve Divine to the position of senior vice president – Finance. In addition to leading Safety National’s Finance Department, in his new role, Divine will become a member of …

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Hailstorms Pummel North Texas, Again

Large hail and strong winds caused considerable damage in heavily populated areas of north Texas overnight on March 23. It is the second time in March that the area has been pummeled by hail. Car windows and sky lights were …

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New York Trains More Than 100K Residents in Disaster Response

More than 100,000 New York state residents are now trained in how to help out during a natural or man-made disaster. New York Gov. Andrew Cuomo says the Citizen Preparedness Corps reached the milestone on March 21. The training program …

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O’Grady Joins Maryland Insurance Administration as Associate Commissioner

Maryland Insurance Commissioner Al Redmer, Jr., announced the appointment of Vincent P. O’Grady as the Maryland Insurance Administration’s (MIA) new associate commissioner, Examination and Audit. O’Grady brings three decades of executive-level finance experience to MIA, including time with public accounting …

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Illinois Agency Joins Missouri-Based Insurance Agency Alliance

Larry Goss Insurance in Mt. Vernon, Ill., has joined Valley Insurance Agency Alliance (VIAA), a network of 100 independent insurance agencies in Missouri and Southern Illinois. Larry Goss Insurance is a full-service insurance agency that specializes in home, business, auto, …

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Arkansas Jury Sides with City in Employee Discrimination Suit

A jury has cleared Little Rock, Ark., of claims that city officials discriminated in their salary considerations for a black diversity manager. The Arkansas Democrat-Gazette reports that the all-white jury determined that the city didn’t base its 2010 decision to …

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PERILS Raises Insured Property Loss Estimate for UK Storms Eva & Frank to £578M

Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to the initial loss estimate of £526 million ($745.2 million), according to PERILS, the independent Zurich-based organization that provides …

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Report: State of Michigan ‘Fundamentally Accountable’ for Flint Water Crisis

The state of Michigan is “fundamentally accountable” for Flint’s lead-contaminated water crisis because of decisions made by its environmental regulators and state-appointed emergency managers who controlled the city, an investigatory task force concluded on March 23. The panel, appointed by …

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Universal Property & Casualty’s Expansion Continues With License in N.Y.

Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has been approved by the New York State Department of Financial Services as a licensed insurance …

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Thousands of Acres Burn in Oklahoma, Kansas

Authorities say a wildfire that started in Oklahoma and spread into Kansas has burned tens of thousands of acres of rural land. The National Weather Service says the fire started Tuesday night near the Kansas border in Woods County, Oklahoma. …

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Michigan Auto Insurance Fee for Catastrophic Injuries to Increase

The annual auto insurance fee that Michigan drivers pay toward caring for people catastrophically injured in crashes is rising to $160, a $10 increase. The Michigan Catastrophic Claims Association announced the new per-car assessment for the 12 months starting July …

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Texas Regulators March Hail Storm Was Insurance ‘Catastrophe’

The Texas Department of Insurance has determined the weather-related event that occurred March 16, 2016, through March 17, 2016, in the counties of Dallas, Tarrant, Johnson, and Parker is a catastrophe for the purpose of claims processing. The designation allows …

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Michigan Insurance Regulators: Over 8,600 Consumers Assisted in February

The Michigan Department of Insurance and Financial Services said its Office of Consumer Services assisted 8,698 consumers across the state and helped recover $422,195 during February. DIFS Director Patrick McPharlin said some notable recoveries staff assisted with were: Helping a …

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R-T Specialty to Acquire Hartan Brokerage in New York City

R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC in Chicago, announced that it has reached an agreement to acquire substantially all of the assets of Hartan Brokerage, a wholesale insurance brokerage operation based in New York …

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Kentucky Sues Volkswagen Over Diesel Emissions Cheating

Kentucky sued Volkswagen AG and its luxury units on Tuesday claiming the German automaker’s diesel emissions cheating scheme violated the state’s Consumer Protection Act. “Volkswagen must be held accountable for its false and misleading promotion and sales of its vehicles …

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PartnerRe Appoints EXOR’s Elkann as Chairman; Clarke Named CEO

EXOR SpA Chief Executive Officer John Elkann was named chairman of PartnerRe, the reinsurer that his investing firm acquired for [$6.9 billion on March 18, 2016 in its largest takeover]. PartnerRe President Emmanuel Clarke was named CEO of the reinsurer, …

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Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports

Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new reports. “Stripping out these two factors, …

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Uber, Lyft Will Begin Operations at Seattle Airport

Ridesharing services, like Uber and Lyft, will soon be allowed to pick up riders at Washington’s Seattle-Tacoma International Airport. Seattlepi.com reported the Port of Seattle announced this week it would allow the companies to operate at the airport as part of a …

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Treasure Island Restaurant on Vegas Strip Evacuated After Kitchen Fire

Officials say no one was hurt in a small kitchen fire at a restaurant at the Treasure Island hotel-casino property on the Las Vegas Strip. Casino spokeswoman Michelle Knoll said the grease fire in the Senor Frog’s Restaurant and Bar …

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VW May Miss Court Deadline for Diesel Fix with U.S. Regulators

Volkswagen AG will probably miss a Thursday court deadline to reach a comprehensive agreement with U.S. authorities over its tainted diesel engines, possibly exposing the carmaker to daily fines and other sanctions. While talks have intensified in recent days, Volkswagen …

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Health Insurers Working to Improve Provider Network Directories

Some health insurers are hoping to ease headaches that can flare when customers try to confirm whether a doctor is covered in a plan’s network of providers. The trade association America’s Health Insurance Plans will soon start testing a more …

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How Telematics Saves on Claims, Improves Customer Experience

Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …

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Fidelis Insurance Promotes Savill to Group Chief Underwriting Officer

Fidelis Insurance announced that Ben Savill has been promoted to group chief underwriting officer, subject to approval from the Bermuda Department of Immigration. He assumes this role from Richard Brindle who held it jointly with his position as group chief …

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Lloyd’s Underwriter Marketform Sells Medical Malpractice Businesses to Beazley

Specialist Lloyd’s underwriter Marketform announced it has sold its UK Open Market Medical Malpractice and UK / International Delegated Authority Insurance businesses to Beazley. The team being transferred is led by Alex Wakeley, a Marketform veteran of more than 20 …

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AIR Says Brussels Attacks Have Limited Insurer Impact; FERMA Issues Comment

The deadly coordinated attacks in Brussels on March 22, which killed 33 people and wounded 260. are expected to have limited impact on the insurance industry, according to catastrophe modeling firm AIR Worldwide. Loss of life and injuries to individuals …

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Florida Beach City Businesses Say Spring Break Laws Hurting Sales

Businesses in Panama City Beach, Fla., say new laws aimed at cutting down excessive spring break drinking are also hurting sales and forcing layoffs. Bars, restaurants, scooter shops and other businesses say they’re letting employees go as sales have dropped …

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Officials: Mississippi Flood Damage Most Widespread Since Hurricane Katrina

Mississippi officials say the damage from floods this month is the most widespread the state has had since Hurricane Katrina. Mississippi Emergency Management Agency Director Lee Smithson tells The Clarion-Ledger federal and state assessment teams have been on the ground …

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$250K in Boat Motors Stolen from South Carolina Marine Dealership

Investigators say thieves have stolen $250,000 worth of boat motors from a marine dealership on Lake Murray. Lexington County deputies said in a news release that a white van broke into the lot at Captain’s Choice Marine on U.S. Highway …

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Federal Appeals Court Sides with Lexington Insurance in Deductible Dispute

A federal appeals court in New Orleans has upheld a lower court’s ruling in favor of an insurance company in a breach of contract suit brought by a Houston-based oil and gas exploration and production company. The dispute in Saratoga …

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Chubb Names Leaders for Expanded Small Commercial Division for North America

Chubb has launched its Small Commercial Insurance division for North America, which will offer management and professional liability and standard insurance coverages for small businesses with annual revenues up to $10 million. The insurer said Chubb Small Commercial Insurance, which already has financial …

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ACIC’s Sektnan Named Chair of Civil Justice Association of California

Association of California Insurance Companies President Mark Sektnan has been named chairman of the board for the Civil Justice Association of California. Sektnan will serve a two-year term as chai. His duties will include overseeing board meetings and serving on …

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Thompson Named Iroquois Group General Manager in Southern California

Bruce Thompson has joined The Iroquois Group as a regional manager in Southern California. His background is in property/casualty, as well as life insurance, and includes experience as a producer, agency owner, and carrier territory manager. Thompson was the territory manager …

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London-Based Chubb Global Markets Announces Lineup of Management Team

Chubb Global Markets, the London-based wholesale insurance division of Chubb, has announced the lineup of its management team. All appointments are effective immediately. As previously announced, Matthew Shaw will serve as executive vice president, Europe, and division president, Chubb Global Markets. Each of the following …

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Newtown Families Tout Progress of Federal Mental Health Bill

Some family members of the Sandy Hook Elementary School shooting victims in Connecticut are cheering the recent committee passage of a bipartisan, federal mental health bill that’s moving through Congress. Much of the legislation, known as the Mental Health Reform …

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Northwest Bank to Acquire Best Insurance Agency in Pennsylvania

Northwest Bank, based in Warren, Pennsylvania, announced that it has signed a definitive agreement, effective April 1, to acquire Best Insurance Agency Inc., an employee benefits and property/casualty insurance agency in Butler, Pennsylvania. Terms of the transaction were not disclosed. …

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Texas Seeks Data on Weather-Related Property Claims, Lawsuits

The Senate Business and Commerce and the House Insurance Committees of the Texas Legislature have requested data from the Texas Department of Insurance related to weather-related property claims, the incidence of lawsuits related to these claims, and the impact this …

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Lim Named Asst. VP, Management Liability Zone Leader at CNA

Chicago-based insurer, CNA, has appointed David Lim as assistant vice president, management liability zone leader for the Northern Zone. In this role, Lim is responsible for providing overall underwriting expertise for the public and private company management liability book of business in the …

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Jury Awards $20.6M to Missouri Woman Exposed to Carcinogen

A southwest Missouri woman has been awarded $20.6 million in damages after federal jurors found that a company exposed her to a toxic chemical that left her with permanent disabilities. The Joplin Globe reports that a jury hearing Jodelle Kirk’s …

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With Property Claims Added, North Texas Hail Damage May Reach $600M

An insurer trade group says it estimates that damage caused by hailstorms that rolled through the Fort Worth area last week will reach $600 million in auto and property claims. Mark Hanna, a spokesman for the Insurance Council of Texas, …

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Fire Warning Covers more than Half of Oklahoma’s Counties

More than half the counties in Oklahoma are under a red flag warning as extreme fire conditions are expected through today. Oklahoma Forestry Services officials say the warning affects 44 counties — particularly in northwestern Oklahoma, where some wind gusts …

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Ridesharing Insurance Bill Signed by South Dakota Governor

Legislation addressing insurance gaps for commercial ridesharing drivers has been signed by South Dakota Gov. Dennis Daugaard, the Property Casualty Insurers Association of America (PCI) reported. House Bill 1091 was approved by the South Dakota Legislature March 10, 2016. PCI …

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$5.8M Award Against Tyson Foods in Iowa Pay Dispute Upheld

The U.S. Supreme Court has ruled for more than 3,000 workers at a Tyson Foods Inc. pork-processing plant in Iowa in a pay dispute with the company. The justices voted 6-2 on to reject new limits Tyson asked them to …

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NJM Insurance Hires Marrero as Consumer Safety Administrator

NJM Insurance Group, one of New Jersey’s leading automobile insurers, has hired Violet Marrero as its consumer safety administrator. She is based in NJM’s West Trenton, New Jersey, headquarters office. In her new role, Marrero will manage the day-to-day activities …

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Brit Leads New Commercial General Aviation Consortium at Lloyd’s

Brit Ltd., the global specialty insurer, has launched a Lloyd’s consortium for commercial general aviation. Now quoting business, the consortium is being led by Brit with capacity also being provided by Kiln, Hiscox, Apollo and Pritchard, and is the only …

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Worker Claims Retaliation over Asbestos Report at Wyoming’s Old Faithful Inn

A maintenance worker at Yellowstone National Park in Montana said a park concession company retaliated against him after he reported that he and five other employees were exposed to asbestos at a more than century-old lodge. Jon Kline told The Associated …

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SAN Group Hires Prouty as Eastern Massachusetts Regional VP

Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast, has hired Cindy Prouty as regional vice president of Eastern Massachusetts. In this position, Prouty is responsible for membership service, development, and insurance company relations …

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Fire Causes Hotel Evacuation in Las Vegas Strip

An escalator fire sent smoke billowing into parts of Las Vegas’ glitzy Caesars Palace, sending three hotel workers to the hospital with smoke inhalation and leading to an evacuation early Monday, officials said. The blaze reported about 3:30 a.m. came …

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FDA Extends Required Warnings to Short-Acting Opioid Painkillers

Short-acting opioid painkillers will carry strong new warnings under U.S. Food and Drug Administration requirements announced on Tuesday that will bring information about addiction and abuse in line with that on long-acting pills. The FDA’s action comes a week after …

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AIG Continues with Job Cuts; Warns 242 in New York Next to Go

American International Group Inc., the insurer that’s been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City. The reductions will take place through Sept. 30, and include its Water Street …

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Lloyd’s Profit Drops 30% in 2015 on Weak Prices and Lower Investment Income

Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001. Earnings declined to 2.1 billion pounds ($3 …

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Supreme Court Rules for Workers in Class Action Against Tyson

The U.S. Supreme Court on Tuesday handed a loss to Tyson Foods Inc. over the company’s challenge to an almost $5.8 million class action judgment in a case won by workers at an Iowa pork-processing facility who contended they were …

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P&I Clubs Plug Shortfall in Iran Oil Cover; US Reinsurers Still Barred by Sanctions

Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …

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Former U.S. Security Specialist’s MGA Ridge Global Tackling Cyber Risks

It may be surprising to some that a former governor and head of National Security started an insurance company focused on cyber risk, but Tom Ridge, president and CEO of Ridge Global says it shouldn’t be. “While the world is …

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China’s Fosun Weighs IPO for Ironshore, Just 4 Months After Acquiring Insurer

Fosun International Ltd., the Chinese conglomerate led by billionaire Chairman Guo Guangchang, is weighing a possible initial public offering for Ironshore Inc., just months after acquiring the insurer. Fosun may also pursue a sale of Bermuda-based Ironshore, according to a …

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Chubb Global Cyber Practice Launches Service to Combat Ransomware Attacks

In response to a 430-percent growth rate in Chubb’s criminal-related cyber losses over the past five years, Chubb’s Global Cyber Risk Practice has launched a service to assist policyholders with ransomware attacks. This is the first new offering from Chubb’s …

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Explosion at Georgia College Under Investigation, Worker Seriously Injured

The president of an Atlanta-area college says an explosion that seriously injured a food worker could be linked to a buildup of gases in a sewer line. A statement from Georgia Gwinnett College President Stas Preczewski says an unknown spark …

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Roundabouts Reduce Accidents, Injuries in South Carolina

More traffic circles are being built in South Carolina and figures from the state Department of Transportation show they help reduce the number of accidents and injuries at intersections. The Independent Mail of Anderson reports that 15 traffic circles have …

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Florida Insurer Launches Company Offering Admitted, Standalone Flood Coverage

A Florida-based homeowners insurer has beefed up its flood insurance offering with the launch of a new flood-coverage only company called TypTap. The new company, a wholly owned subsidiary of Homeowners Choice Property & Casualty Insurance (HCI), one of the …

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California Workers’ Compensation Institute Elects 2016 Board

Susan Gordon, head of workers’ compensation underwriting at Zurich North America, was elected board chair of the California Workers’ Compensation Institute for 2016. Gordon was elected at CWCI’s 52nd annual meeting in Oakland. Gordon has been a member of the …

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CSAA Exec Named California Insurance Guarantee Association Chair

Jeff Huebner, vice president of treasury for CSAA Insurance Group, has been named chairman of the board of governors for the California Insurance Guarantee Association. Huebner joined CSAA Insurance Group in 2001 as manager of risk finance and captive operations, …

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Woodruff-Sawyer Taps Richards in Southern California

Woodruff-Sawyer & Co. has named Kyle Richards an associate producer in the Southern California office. Richards will develop new client relationships. His specialties include real estate, technology and manufacturing. Richards was an associate client executive at Marsh prior to Woodruff-Sawyer. …

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Digital Insurance Agency MassDrive Expands Online Platform to All States

MassDrive Insurance Group, a digital insurance agency and affinity marketing firm, has made its auto insurance comparison shopping service MyLifeProtected available nationally. MyLifeProtected uses a mobile-first, customer-centric focus and affinity distribution model. The company enables retailers, digital media companies, financial …

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New Hampshire, Maine Monitoring Struggling Health Insurance Co-Op

New Hampshire insurance regulators are working with their counterparts in Maine to monitor a financially struggling health insurance cooperative that serves both states. Community Health Options, based in Lewiston, Maine, was the only cooperative in the country to make money …

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WT Phelan Acquires Martini Agency in Massachusetts

WT Phelan & Co., an independent insurance agency based in Belmont, Massachusetts, announced that it has acquired Martini Insurance Agency in Woburn, Massachusetts. Terms of the transaction were not disclosed. Martini Insurance was founded in 1960 by John C. Martini, …

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35% of Arkansas Banks Closed in Past Decade

A lack of succession planning, the costs of fighting cyberattacks and competition with online mortgage companies that have no brick and mortar branches are some of the reasons the number of banks in Arkansas has fallen by 35 percent over …

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Navigating Change in Today’s Volatile Flood Insurance Market

If you are an insurance agent trying to survive in today’s competitive marketplace, you may have dipped your toes in the flood insurance waters, so to speak. If you have not, get ready to jump in, because there’s a “perfect …

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Appeals Court: Michigan Woman Can Collect Dead Ex-Husband’s Insurance

A woman can collect a $120,000 insurance windfall after the death of her former husband, despite their divorce years ago, the Michigan appeals court says. John “Jerry” Lett never removed Nancy Henson as the beneficiary before he died in 2014. …

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Finnorn Named VP, General Counsel at Amerisure

Amerisure Mutual Insurance Co., based in Farmington Hills, Mich., has appointed Joanne Finnorn as vice president and general counsel. Finnorn is responsible for all aspects of Amerisure’s Office of Legal Counsel, and is charged with oversight of corporate compliance with …

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Southeast Texas Floods Bring Federal Disaster Declaration

President Barack Obama has declared a major disaster in three Texas counties following severe storms including tornadoes and flooding earlier this month. The declaration covers Jasper, Newton and Orange counties in southeast Texas. It enables residents to received federal grants …

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Hail Damage in North Texas Could Cost $300M in Car Repairs

Hailstorms that rolled through the Fort Worth, Texas, area last week could result in $300 million in vehicle repairs. Mark Hanna, a spokesman for the Insurance Council of Texas, estimated that 50,000 vehicles were damaged by the morning storms on …

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Insurance Journal Survey for Young Agents: Speak Now!

Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. The results will be …

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Gawker, Publisher to Pay $25M in Punitive Damages in Hulk Hogan Lawsuit

A Florida jury awarded punitive damages totaling $25 million on Monday in a second blow to Gawker, coming on top of the $115 million the online news outlet must pay for posting a sex tape of the former professional wrestler …

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Insurance Society of Philadelphia Hires Zapalac as Director of Education

The Insurance Society of Philadelphia has hired Melodye Zapalac as director of Education. In her new role, Zapalac will be responsible for the Insurance Society of Philadelphia’s professional development and continued education programs. She will also lead the organization’s outreach …

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Pi Chubb, 81, Former Chubb Vice Chairman, Dies

Percy Chubb, III, the former vice chairman of The Chubb Corp., has died at the age of 81. Pi Chubb, as he was known, was the great-grandson of Thomas Caldecot Chubb and grandson of Hendon Chubb, who founded Chubb & …

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L.A. Gives Nod to $30M Gang Injunction Suit Settlement

The city of Los Angeles has agreed to spend up to $30 million to settle a lawsuit that challenged widespread injunctions that restrict the movements of thousands of suspected gang members. The City Council voted to fund nonprofit organizations to …

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Oregon Woman Files $1M Suit Nursing Home Death of Father

A woman has filed a nearly $1 million lawsuit against a Florence, Ore. nursing home that cared for her 83-year-old father, claiming that it didn’t do enough to address health symptoms that led to his death. The Register-Guard reported that …

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Samsung-Apple iPhone Patent Damages Headed to Supreme Court

The U.S. Supreme Court on Monday stepped into the high-profile patent fight between the world’s two fiercest smartphone rivals, Apple and Samsung, agreeing to hear Samsung’s appeal of what it contends were excessive penalties for copying the patented designs of …

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For Greenbergs Post-AIG, Business Is $650M Family Affair

Long after leaving American International Group Inc., members of the Greenberg family are expanding financial ties through companies they now oversee. Evan Greenberg’s Chubb Ltd., previously known as Ace Ltd., has paid more than $650 million in commissions over the …

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Court Finds Law Firms Not Liable in Financier Stanford’s Ponzi Scheme

Two big New York law firms that represented the now-imprisoned financier Allen Stanford persuaded a federal appeals court on Thursday to throw out a lawsuit claiming that they helped conceal his $7.2 billion Ponzi scheme. Reversing a lower court ruling, …

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Risk Appetite Statements Driving Shift in Reinsurance Buying Decisions: Willis Re

The rising adoption of formal risk appetite statements is having a dramatic effect on reinsurance buying decisions, with purchasing power increasingly moving to the center, according to the findings of a new global survey by Willis Re, the reinsurance business …

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Arthur J. Gallagher to Buy Kane Group’s Insurance Management Operations

Itasca, Ill.-headquartered Arthur J. Gallagher & Co. announced it has reached an agreement with Kane Group to acquire its insurance management operations (KIM). This acquisition is expected to close on or about March 31, 2016 and is subject to certain closing conditions. Other terms …

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Mauritius-Based Reinsurance Solutions Launches London Subsidiary

Reinsurance Solutions Group announced the launch of its London subsidiary, Reinsurance Solutions London Ltd. Reinsurance Solutions is a Mauritius-based reinsurance broking group trading across Africa with subsidiaries in Kenya, Cote d’Ivoire, and now London. The group, established 20 years ago, …

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2 Explosions Rip Through Brussels Airport; Deaths & Injuries Reported

Two explosions ripped through the Brussels airport departure hall on Tuesday morning, causing deaths and injuries, according to initial Belgian news reports. Passengers said the bombs went off in rapid succession around 8 a.m., the peak check-in hour for morning …

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Shipping Industry Had Safest Year in a Decade in 2015: Allianz Report

The shipping industry saw its safest year in a decade in 2015, according to a new report from Allianz Global Corporate & Specialty (AGCS), with 85 total losses reported worldwide last year, down from 88 in 2014 and well below …

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Chubb Names Claims Management Team in Europe

Chubb announced a number of appointments within its claims management team in Europe, with immediate effect. All the following positions will report to Peter Murray, director of claims for Chubb in Europe and will be based in London, unless otherwise stated: Steve Parry, formerly UK and …

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Affirmative Insurance Liquidation Hearing Set for March 24 in Illinois

On March 1, 2016, Affirmative Insurance Co. was declared insolvent by at least $31 million by Acting Illinois Insurance Director Anne Melissa Dowling, who filed with the Illinois Supervising Court a Complaint for Liquidation with a Finding of Insolvency against the insurer. A …

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North Dakota Insurance Department Recovers $3.4M for Consumers in 2015

North Dakota’s chief insurance regulator says his agency recovered or saved $3.4 million for the state’s citizens in 2015. This number represents money recovered through the North Dakota’s Insurance Department’s hotline, through complaints filed by consumers against insurance companies and …

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Alabama Supreme Court Overturns $12.6M Verdict in Workplace Accident Case

The Alabama Supreme Court has overturned a $12.6 million judgment in a lawsuit resulting from a workplace accident. The justices sided with Dothan-based South Alabama Brick Co. in a decision released Friday. A Mobile County court returned the judgment against …

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South Carolina Paid $40M to Settle Road Claims Since 2010

A newspaper in South Carolina has reported the state has paid about $40 million since 2010 to settle road claims and lawsuits against the Transportation Department, with much of that money going to settle cases involving damages caused by potholes. …

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Mississippi Sisters Arrested For Workers’ Comp Fraud

Deputies in Harrison County, Mississippi, have arrested two relatives in an ongoing case of worker’s compensation fraud that occurred at a Gulfport business. The Sun Herald reports Sheriff Troy Peterson said 39-year-old Detria L. Vogle, of Biloxi, and 26-year-old Rachel …

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Rating Agency Warns P/C Insurers on Taking On Too Much Cyber Risk

If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty within many industries and thus “aggressive expansion” by insurers …

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Texas Seeking Employer Representative for Workers’ Comp Appeals Panel

The Texas Department of Insurance is seeking an employer representative to serve on the Texas Workers’ Compensation Appeals Panel. The panel resolves policyholder disputes with insurance carriers that are referred by the National Council on Compensation Insurance (NCCI). The panel …

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EPIC Names McDonnell Managing Principal in California

Edgewood Partners Insurance Center has named Brian McDonnell a managing principal, and the formation of a national construction specialty group. McDonnell will be based in EPIC’s Concord, Calif. office and report to Derek Thomas, chief strategy officer and co-leader of EPIC’s …

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Noonan Named Principal of Cavignac & Associates in California

Matthew Noonan has been named principal of San Diego, Calif.-based Cavignac & Associates. He joins Jeff Cavignac, Jim Schabarum, Scott Bedingfield, Patrick Casinelli and Matthew Slakoff in part ownership of Cavignac & Associates, participating on the company’s executive board of …

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Farmers CEO Remembers Joplin Tornado at California Gala

Jeff Dailey, CEO of Farmers Insurance, turned what could have been a mere acceptance speech into a lesson-filled personal account of his first time seeing the devastation wreaked by the May 2011 tornado in Joplin, Mo. “Joplin was a major …

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N.H. Report Recommends More Planning Against Coastal Hazards

A report says New Hampshire’s coastal communities’ exposure to future flood risks is significant, and now’s the time to plan to minimize that. The New Hampshire Coastal Risk and Hazards Commission spent 2 1/2 years looking at areas vulnerable to …

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Ironshore Environmental Expands Spill Coverage to Real Estate Segment

Ironshore Environmental is expanding its industry SPILLS program to the real estate sector, offering blanket coverage for all owned and leased residential and commercial properties without the need to schedule properties. The policy includes comprehensive coverage for remediation expenses, emergency response expenses, bodily …

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Survey: NW Arkansas Companies Seek to Hire Thousands, Expand Rapidly

A regional employer survey suggests that northwest Arkansas companies want to create more than 3,100 jobs and invest more than $336 million in expansion during the next three years. Arkansas Business reports that a quarter of the companies interviewed by …

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Virginia to Hold Hearing on Anthem’s Proposed Acquisiton of Cigna

Virginia’s State Corporation Commission (SCC) announced that it will hold a public hearing in May to consider the competitive impact of Anthem Inc.’s proposed acquisition of Cigna Corporation and its subsidiaries. As part of that merger, the SCC must consider …

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Iowa Lawmakers Say No to Higher Speed Limits

Efforts to increase speed limits on Iowa freeways and rural roads failed in the Legislature this year amid safety concerns, but officials acknowledged such moves are popular with drivers and likely will come before lawmakers again. Several bills were introduced …

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Iowa Egg Farm Wastewater Spill Case Sent to Attorney General

One of the nation’s largest egg farms, which lost millions of hens in last year’s bird flu outbreak, is defending itself against legal action by the state over a wastewater spill that fouled 18 miles of stream in northwest Iowa …

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Indiana Mans Gets 2 Life Sentences in Deadly House Blast

A judge sentenced an Indianapolis man to more than two life sentences in prison for his role in a 2012 house explosion that killed two people and destroyed or damaged dozens of homes in a scheme to collect insurance money. …

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Guilty Plea in $1.5M Insurance Settlement Theft in Louisiana

A Lafayette, La., man is facing a possible 20-year prison sentence for stealing about $1.5 million from an insurance settlement received by his sister. U.S. Attorney Stephanie Finley said that 37-year-old Kevin Ralph Andrus pleaded guilty to one count of …

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Storms Set Oil Field Equipment on Fire Near Houston

Lingering thunderstorms were blamed for a fire that damaged an oil field equipment site on March 19 near Houston and power outages in South Texas that left more than 50,000 homes and businesses without electricity. Emergency officials said no injuries …

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New York’s E-Prescribing Law Takes Effect This Month

The scribbled, cryptic doctor’s prescription is headed toward eradication in New York, where the nation’s toughest paperless-prescribing requirement takes effect this month. Instead of handing patients slips of paper, physicians soon must electronically send orders directly to pharmacies for everything …

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N.Y. Announces Plan to Stop Zika Virus; Conn. Identifies 1st Zika Case

New York state will monitor and target a type of mosquito that officials fear could spread the Zika virus, part of a new plan to combat the disease that also includes distributing prevention kits to pregnant women. The state has …

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Washington Officials Say 26 Homes in Chelan County at Risk of Landslide

Emergency management officials in Washington say a neighborhood of 26 homes near Wenatchee is at imminent risk for a landslide. The Chelan County Sheriff’s Office said Thursday the slope between 4900 and 5200 Whispering Ridge Road has been determined to …

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Oregon Man Suing Over ‘Dangerous’ Llama

An Oregon man is suing farm owners after he broke his leg in a confrontation with their llama. The Mail Tribune reported that 33-year-old Justin Stranberg is suing for $332,675, saying the owners of Holleywood Farm failed “to warn of …

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Wyoming Workplace Safety Meetings Planned Around State

Responding to the trend of workplace shootings that have happened around the country, the state of Wyoming is offering free workplace training in April and May to inform workers and supervisors how to respond to active shooter situations and other …

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Oregon Woman’s $1M Suit Claims Massage Was Assault

An Oregon woman who claims a massage she received last month was sexual battery has filed a $1 million lawsuit in Multnomah County Circuit Court. KOIN-TV reports the complaint was filed last week. It says the woman received a massage …

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Famed California Seismologist Retiring From USGS

Seismologist Lucy Jones, the face of earthquake science and safety in Southern California, is retiring from the U.S. Geological Survey. Jones said in a Twitter posting Friday that she’s leaving federal service but will remain at the California Institute of …

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Supreme Court Lets NFL Players’ Image Rights Claims Proceed

The U.S. Supreme Court on Monday rejected Electronic Arts Inc.’s bid to revive its free speech defense in a lawsuit filed by former NFL players who accused the videogame maker of using their likenesses in the popular Madden NFL series …

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Ridesharing Firm Could Bypass Drivers by Building Own Autonomous Fleet

Ride-hailing service Uber has sounded out car companies about placing a large order for self-driving cars, an auto industry source said on Friday. “They wanted autonomous cars,” the source, who declined to be named, said. “It seemed like they were …

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Why Ridesharing Won’t Hurt Car Sales

Car sharing usage will significantly increase, particularly in urban areas among young residents, however most consumers will still opt to own their own cars and car sharing will not significantly hurt car sales, according to a new report. Car sharing …

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PartnerRe’s $6.9B Sale to EXOR Completed; Fitch Issues Downgrade

PrtnerRe’s new owner EXOR has closed its $6.9 billion acquisition of the Bermuda-based reinsurer, and Fitch Ratings quickly responded with a ratings downgrade that reflects some pessimism over the transaction and the broader market. Fitch said it downgraded PartnerRe’s insurer financial …

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‘Brexit’ Could Cost U.K. $145B in Economic Output & 950,000 Jobs by 2020: Study

Leaving the European Union might cost the U.K. 100 billion pounds ($145 billion) in lost economic output and 950,000 jobs by 2020, the Confederation of British Industry said as it stepped up its campaign against a so-called Brexit. A vote …

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New Chubb’s O’Brien Traverses High Wire of Integrating High Net Worth Businesses

Its acquisition of Fireman’s Fund’s business in April, 2015 provided ACE Ltd. with an idea of what’s involved in integrating two leading high net worth insurance businesses. Frances D. O’Brien is now using those corporate insights along others she has …

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FlyDubai CEO Defends Decision to Land Plane in Bad Weather Before Fatal Crash

FlyDubai’s top executive said conditions for landing were appropriate when one of its flights crashed at a windy airport in southern Russia, even though three other carriers rerouted flights to other destinations. “As far as the operation of the flight, …

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AXA’s Chairman & CEO De Castries to Retire Early; Buberl to Step into Role

AXA SA Chairman and Chief Executive Officer Henri de Castries is leaving earlier than expected, handing over the post of CEO to Thomas Buberl as France’s largest insurer splits its top jobs. De Castries, 61, will retire at the start …

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Zika Exclusion Now Commonplace in Cancellation Cover for Latin America Events

Organizers of rock concerts and conferences in Latin America or fringe events at the Rio Olympics beware: if you still need insurance to cover cancellation due to the Zika virus, it’s probably too late. The International Olympic Committee (IOC) should be fine. …

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Dry, Windy Weather in North Carolina Increasing Mountain Wildfires

Windy and dry conditions are causing an increase in the number of wildfires in the North Carolina mountains. Media outlets report that a 60-acre fire near Bearwallow Mountain southeast of Asheville that firefighters have been battling this week is largely …

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Severe Hail, Wind Storm Mississippi on Heels of Severe Floods

Hail and damaging thunderstorms raked southern parts of Mississippi on Thursday as people across the state tried to recover from flooding earlier in the week. The National Weather Service counted 44 hail reports in 15 counties, with baseball-sized hail reported …

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Florida Jury Awards Hulk Hogan $115M in Sex Tape Lawsuit Against Media Company

A jury in Florida awarded wrestling star Hulk Hogan an eye-popping $115 million on Friday in his sex tape lawsuit against Gawker Media – and the award isn’t Hogan’s final round in the suit. Next up, the jury will return …

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Commentary: Florida’s Failure to Pass AOB Reforms Will Impact State Insurance Market

Following the 2016 Florida Legislative Session’s failure to pass essential assignment of benefit (AOB) reforms, the insurance industry and Citizens Property Insurance Corp. are working in tandem with the Florida Office of Insurance Regulation (OIR) to find workable administrative measures …

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Obama OKs Disaster Aid for N.J.’s January Snowstorm Damage

President Barack Obama has signed a disaster declaration to help parts of New Jersey recover costs stemming from the blizzard dumped nearly 3 feet of snow in January. The White House says federal funding is available to state and local …

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Massachusetts Regulators Examine Zenefits

The Massachusetts Division of Insurance said this month that it has opened an investigation into Zenefits, a human resources software startup. Founded in 2013, the San Francisco-based Zenefits offers software to small- and mid-sized businesses to help automate their HR …

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Flooded Interstate 10 in Southeast Texas to Remain Closed for Days

Highway officials say flooded Interstate 10 in Southeast Texas will stay closed through the weekend. Transportation officials closed the eastbound lanes early on March 15 as rising waters from excessive rains flooded the roadway. Westbound lanes were closed on March …

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Midwest Pounded by Tornado-Packing Storms

The National Weather Service confirmed that on tornadoes touched down this week in parts of eastern Iowa that also endured heavy rain and hail as large as golf balls. Tornadoes also touched down at least five times in central and …

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Missouri Lawmakers Favor Statewide Regulations for Uber

Missouri lawmakers in both chambers say passing statewide regulations for app-based car services will lead to thousands of new jobs. Uber’s general manager for Missouri Sagar Shah said that regulations making their way through the Legislature would allow the company …

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Iowa City $59M Flood Prevention Project in the Works

Iowa City is preparing to start work on a $59 million flood recovery and mitigation project. The Iowa City Press-Citizen reports that crews began removing trees last week in preparation for the Gateway Project, which was prompted by the record-setting …

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Oklahoma Treatment Plant Operator to Pay $1M for Drinking Water Violations

The operator of Hugo’s water treatment plant will pay nearly $1 million to help small Oklahoma communities upgrade water treatment facilities as part of a settlement of drinking water violations that left thousands of local residents with unsafe water for …

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July Explosion Leads to OSHA Fine for New Mexico Pot Business

A medical marijuana dispensary in New Mexico has been fined for safety violations after an explosion badly burned two workers. The Albuquerque Journal reports that the federal Occupational Safety and Health Administration spent about eight months investigating the July 23 …

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Pennsylvania Agency Employee Accused of Embezzling $530K From Work

The attorney for a central Pennsylvania woman charged with stealing $530,000 from two insurance agencies says she’s addicted to slot machines. Attorney Herbert Goldstein says 65-year-old Diane Fabian is cooperating with authorities and undergoing counseling for the gambling that fueled …

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2 Auto Lenders Settle in Massachusetts, Agree to Pay $7.4M in Relief

Two national auto lenders have agreed to provide a total of $7.4 million in relief to more than 2,000 Massachusetts car buyers over allegations they charged excessive interest rates on their subprime auto loans. Massachusetts Attorney General Maura Healey announced …

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Wrongful Death Suit Filed in Washington Man’s Excavator Death

A wrongful death lawsuit has been filed on behalf of a man who was killed when the excavator he was driving tumbled down a cliff about 25 miles southeast of Tacoma, Wash. The News Tribune reports that 22-year-old Jared Lanphear, …

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Dallas Jury Orders Johnson & Johnson to Pay $500M in Hip Implants Case

Johnson & Johnson was ordered to pay $502 million to a group of patients who accused the company of hiding flaws in its Pinnacle artificial hips that caused the devices to prematurely fail and left them facing surgeries and pain, …

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California Judge: Lyft Lawsuit Against Uber Exec Should Go to Trial

An Uber executive lost a bid to throw out a breach of contract lawsuit filed against him by his former employer, Lyft, in advance of a trial scheduled for next month, according to a tentative ruling by a California state …

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Allstate’s Pickford Named InVEST Director, Replacing Retiring Mattis

Deborah M. Pickford has joined InVEST, the insurance industry’s classroom-to-career education program that is in more than 600 colleges and high schools, as executive director. Pickford will replace Diane Mattis, who served as InVEST executive director since 2010 and will …

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Insurance Rates for Architects, Engineers Not Going Anywhere

After three straight years of moderate increases, insurance premiums for architects and engineers professional liability leveled off in 2015. A new survey by insurance broker Ames & Gough also found that insurers plan to keep rates stable this year in …

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Bangladesh Launches Cyber Heist Probe; Cash Packed into Manila Banker’s Car

Bangladesh police launched a criminal investigation on Thursday into the cyber theft of $81 million from the central bank’s U.S. account but said it was too early to pinpoint any suspects. The money was transferred to accounts in the Philippines, and a …

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Fitch Upgrades Ageas’ IDR to ‘A’, Following Former Fortis Group Settlement

Fitch Ratings has upgraded Ageas SA/NV’s long term Issuer Default Rating (IDR) to ‘A’ from ‘A-‘. The outlook on the IDR is stable. Ageas SA/NV is the ultimate holding company of the Ageas group (Ageas). Fitch has also affirmed Ageas …

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Vehicles ‘Increasingly Vulnerable’ to Hacking, Warns FBI

The FBI and U.S. National Highway Traffic Safety Administration (NHTSA) issued a bulletin Thursday warning that motor vehicles are “increasingly vulnerable” to hacking. “The FBI and NHTSA are warning the general public and manufacturers – of vehicles, vehicle components, and …

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Chubb Names Leadership Team for Insurance Operations in Bermuda

Chubb Ltd. has named the leadership team for its insurance operations in Bermuda, effective immediately. On Jan. 14, 2016, ACE completed its acquisition of Chubb. ACE Bermuda is expected to become Chubb Bermuda in the second quarter of 2016. Joseph S. Clabby will continue to serve …

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EnPro Agrees to $480 Million Settlement of Garlock Asbestos Claims

EnPro Industries Inc. said it has agreed to a $480 million settlement to resolve current and future personal injury claims related to its asbestos-lined gaskets used in pipes, valves and other industrial applications. The settlement was between EnPro, its now …

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Vienna Insurance 2015 Pretax Profit Down 67% on Romanian, Polish Writedowns

Vienna Insurance Group AG fell the most since 2009 after writedowns at its Romanian and Polish businesses added to earlier impairments of computer systems and helped push pretax profit for last year 67 percent lower. The shares fell as much …

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Generali Q4 Net Income Rises on Higher Operating Income; Donnet Named CEO

Assicurazioni Generali SpA, which named Philippe Donnet as its new chief executive officer on Thursday, said fourth-quarter profit rose on higher operating income in the non-life segment. Net income rose to 304 million euros ($344 million) from 81 million euros …

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Lloyd’s Appoints Garigiparthy as Country Manager for India

Lloyd’s announced the appointment of Shankar Garigiparthy as country manager for India. In this new role Garigiparthy will be responsible for market development, representing Lloyd’s in discussions with regulators and building business relationships as Lloyd’s seeks to grow its presence …

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General Star Adds Product Liability Coverages for Manufacturers, Distributors

General Star Management Co. has launched a trio of specialized product liability coverages called “Encore!” designed to protect manufacturers, importers and distributors from product liability exposures arising out of discontinued products, mergers or acquisitions, or other past product exposures. Discontinued …

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12 Horses Killed by Fire at Florida Equestrian Center

An electrical malfunction started a barn fire that killed 12 horses and injured 11 at an equestrian complex in suburban Palm Beach, Florida, investigators said Wednesday. Palm Beach County fire investigators concluded the blaze at the South Florida Trotting Center …

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Georgia Judge Awards $64M to Man Beaten in Assisted Living Home

A judge in Wilkinson County, Georgia, has awarded $64.6 million to a man who claimed he was beaten by several employees in a personal-care home. Media outlets report that in January, Judge William Prior issued the final judgment against the …

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North Carolina Couple Charged with Defrauding Insurance Company

A Fayetteville, North Carolina, couple is accused by authorities of trying to defraud an insurance company after submitting altered receipts for property they said was stolen. The Fayetteville Observer reports Maria Alta Bruno and Luidor Lamour, both 34, are charged …

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Ridesharing Gets Green Light in West Virginia

Companies like Uber and Lyft can soon start offering rides in West Virginia under a new law approved by Gov. Earl Ray Tomblin. The Democrat signed a bill Tuesday letting ridesharing companies operate in the state. The Republican-led Legislature passed …

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Burns & Wilcox Opens New Office in Orlando, Siegel to Lead

Burns & Wilcox has opened a new office in Orlando, Fla., extending the company’s footprint to three locations in Florida, which also include Daytona Beach and Tampa. Burns & Wilcox has operated in Florida for over 30 years and is …

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How Will Paris Agreement Change The Insurance Industry?

The sweeping agreement to reduce carbon emissions and battle climate change hammered out by world leaders last year could be greatly transformative for the insurance and reinsurance industry, if you listen to industry experts who have read and thoroughly analyzed …

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Drowning in Negative Publicity, SeaWorld Ends Killer Whale Breeding

Bowing to years of pressure from animal rights activists, U.S theme park operator SeaWorld said on Thursday it would stop breeding killer whales and that those currently at its parks would be the last. Orlando-based SeaWorld has faced sagging attendance …

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The Hartford’s Grab of Maxum Specialty ‘Smart Move’: Analyst

The Hartford’s plan to pay $170 million in cash for excess and surplus lines insurer Maxum Specialty is a “smart move” that should help it grow its small commercial lines unit by getting more into new industry classes, says an …

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Marsh Hires McDonough as Northeast Construction & Surety Practice Leader

Marsh announced that Rob McDonough is joining the broker to lead its Construction & Surety Practice in the Northeast. In this role, McDonough will be responsible for overseeing Marsh’s risk advisory and transactional services to the firm’s growing roster of …

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Penn. Lawmakers Start Debating Medical Marijuana Bill

The Pennsylvania House of Representatives took up a proposal this week to permit the use of marijuana for medical purposes, a potential breakthrough for supporters who have worked for several years to get legalization through the Republican-controlled Legislature. The debate …

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North Texas Commuters Hit with Damaging Hailstorms

Severe thunderstorms moved in and around the Dallas/Fort Worth area this morning producing heavy rain, strong winds and hail as large as baseballs, the Insurance Council of Texas (ICT) reported. Several businesses including the Arlington Police Department reported extensive damage …

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Insurance Trade Groups Oppose Minnesota Auto Insurance Bill

Property/casualty insurance trade groups, the American Insurance Association (AIA) and the National Association of Mutual Insurance Companies (NAMIC), have submitted testimony to the Minnesota Legislature in opposition to a proposed auto insurance regulation bill the groups say is misguided. According …

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Penn. Hails House Committee Passage of Private Flood Insurance Bill

Pennsylvania Insurance Commissioner Teresa Miller hailed a recent vote by the U.S. House of Representatives Financial Services Committee approving the Flood Insurance Market Parity and Modernization Act (H.R. 2901). Miller said this legislation encourages more private insurers to write flood …

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Oklahoma Insurance Commissioner: Department Can Fund Itself

Oklahoma Insurance Commissioner John D. Doak has requested that the Oklahoma Insurance Department (OID) no longer receive appropriated funds from the state. He said his office as the has the ability to function on the licensing fees it collects. With …

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NTSB: Feed Truck Shifted Track Before Kansas Amtrak Accident

A truck used to deliver feed to a business where cattle are fattened hit a train track and shifted it at least a foot before an Amtrak train derailed in southwest Kansas and injured at least 32 people, an investigator …

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Rising Rivers, Bayous Force Texas Evacuations

Residents were evacuating their homes in Southeast Texas on March 15 as rivers swollen by days of heavy rain displaced thousands of people, forced the temporary closure of a major interstate and overwhelmed small towns along the Louisiana border. People …

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Judge Throws California Lawsuit over Duracell Batteries Guarantee

A federal judge threw out a lawsuit accusing Procter & Gamble Co of misleading consumers by guaranteeing that Duracell batteries would not fail for 10 years, when in fact the batteries might leak when used or stored normally. In a …

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Jury Awards $5.2M in Fatal Tent St. Louis Collapse

A St. Louis, Mo., jury has awarded $5.2 million in a wrongful death and personal injury lawsuit filed over a fatal tent collapse at a sports bar near Busch Stadium. The verdict was announced Monday. The St. Louis Post-Dispatch reports …

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NWS Confirms F-1 Tornado Caused Damage in Southwest Ohio

The National Weather Service confirms a tornado caused damage in a southwest Ohio village near Dayton. There were no immediate reports of injuries from the March 14 tornado. The National Weather Service says the EF-1 tornado touched down in Phillipsburg …

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Universal Property & Casualty Licensed in New Jersey

Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) was issued a certificate of authority from the New Jersey Department of Banking and Insurance approving …

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Chubb Changes Transactional Insurance Team; Plans for Growth

Chubb announced changes in its leadership team for its transactional risk protection products that help facilitate merger and acquisition (M&A) activity and other transactional deals. Edward Markovich, senior vice president, and Randy Hein, senior vice president, will be responsible for managing …

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Gallagher’s Agnew Named Chair, London & International Insurance Brokers’ Assn.

Arthur J. Gallagher International announced that Andrew Agnew, managing director of specialty and member of its executive committee, has been appointed chairman of the London & International Insurance Brokers’ Association (LIIBA). He succeeds Steve Hearn of CGSC and takes up …

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Automatic Braking, Due by 2022 in U.S. Cars, Could Prevent 20% of All Crashes

Major automakers will announce Thursday they have agreed to install automatic emergency braking systems in nearly all U.S. vehicles by September 2022, three sources briefed on the plans said. The U.S. National Highway Traffic Safety Administration (NHTSA) announced in September …

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The Hartford Expands E&S Capabilities with Acquisition of Maxum Specialty

The Hartford has agreed to purchase Northern Homelands Co., the holding company of excess and surplus lines insurer Maxum Specialty Insurance Group, for $170 million in cash. According to the announcement, Maxum will maintain its brand and wholesale distribution model …

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Los Angeles Sidewalk Plan Passes off Responsibility for Future Repairs

A joint City Council committee has backed a sidewalk repair plan that calls for Los Angeles to cover the cost of the first repair, then hand off the responsibility for future fixes back to the property owner. The Los Angeles …

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