New Hampshire Offers Lost Life Policy Locator Service to Residents

The New Hampshire Insurance Department has created a lost life policy locator service to assist Granite State residents and their families in locating life policies and annuity contracts that have been purchased in the state. “We developed this service to …

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Virginia Reminds Insurers: Rates, Rating Rules Must Be Cost-Based

Virginia Insurance Commissioner Jacqueline Cunningham has issued an administrative letter this month reminding insurers to review the rate standards outlined in Virginia Code § 38.2-1904 to ensure compliance. The administrative letter also indicates that so-called “price optimization” techniques that raise …

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Should You Get GAP Car Insurance?

Guaranteed Auto Protection, or GAP, is important to have under certain circumstances. Like its abbreviated name, GAP insurance fills in financially when an auto claim payout is less than the actual value of your vehicle, should it be totaled. Alwa...

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New York: Health Insurers Must Pay for Maternal Depression Screening

New York state will soon require health insurers to cover depression screening for pregnant women and new mothers. The move follows a recommendation from a federal panel that insurers cover maternal depression screening without a co-pay or deductible. Gov. Andrew …

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Kinsale Insurance Hires Manahan to Lead E&S Property in Virginia

Kinsale Insurance Company, a domestic excess and surplus lines insurance company based in Richmond, Virginia, has hired Stephen Manahan as senior vice president of Excess & Surplus Lines Property. In his new role, Manahan will be responsible for the continued …

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Texas Mutual Awards $600K in College Education Grants

Texas Mutual Insurance Co. announced it has awarded a combined $600,000 in grants to College of the Mainland in Texas City, Del Mar College in Corpus Christi, El Paso Community College, Kilgore College, Midland College and Amarillo College. The grants …

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Alaska Assisted Living Home Faces $75K Fine for Workplace Death

State labor officials have fined an Anchorage assisted living home $75,000 for alleged safety and health violations in the death of a caregiver who was killed by a resident of the home. The Alaska Department of Labor and Workforce Development …

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Chicago Jury Awards $22.7M to Widow for Work Zone Crash that Killed Spouse

The widow of a motorist who was killed when a speeding truck slammed into his car while he was stopped in an Illinois construction zone has been awarded $22.7 million. Theresa Swenson sued Missouri-based Hussmann Corp. for the May 2012 …

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Illinois Volunteer Firefighter Accused of Starting Fires with Cigarettes

A 20-year-old northern Illinois volunteer firefighter accused of starting five fires allegedly tossed lit cigarettes to spark at least two of the blazes, according to court documents. Kenneth Grabow of Orangeville was scheduled to appear in court on April 28 …

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Residents’ Group: Honolulu Rail Project at Risk for Flood Damage

A group of residents is prepared to take Honolulu officials to court over the city’s multi-billion-dollar rail project because of concerns that the rail could be vulnerable to flood damage. The Honolulu Star-Advertiser reports the “Do Rail Right” group laid …

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Police in Nevada Ticket 75 Distracted Drivers During 3-Week Blitz

Henderson, Nev., police say officers looking for distracted drivers during a three-week enforcement blitz ticketed 75 motorists for infractions like texting, checking emails, accessing the Internet or talking on cellphones. Police spokeswoman Kathleen Richards says officers reported making 605 traffic …

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$1M Settlement Reached with Building Owners in Fatal Illinois Apartment Fire

Relatives of six people who perished five years ago in an apartment building fire in suburban Chicago have reached a $1 million legal settlement. Surviving family members sued the building owners, claiming they did not supply smoke detectors, fire escapes …

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Oklahoma Ex-Reserve Deputy, Insurance Exec Convicted in Suspect’s Death

A former Oklahoma volunteer sheriff’s deputy who said he mistook his handgun for his stun gun when he fatally shot an unarmed suspect last year has been convicted of second-degree manslaughter. Jurors handed down the verdict in the case of …

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Houston Bakery to Pay $1M to Settle Race, National Origin Discrimination Suit

A large bakery in Houston will pay $1,042,000 as part of the settlement of a class race and national origin discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. The EEOC had charged that Lawler …

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Aon Reports 4% Drop in Q1 2016 Net Income to $315 Million

London-based Aon plc reported net income attributable to Aon shareholders of $315 million, or $1.15 per share, during the first quarter ending March 31, which is down 4 percent from $328 million, or $1.14 per share, from the same period …

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Florida Picks Deputy Altmaier to Be Next Insurance Commissioner

The Florida Cabinet has selected David Almaier to be the state’s new insurance commissioner. Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin McCarty, who is stepping down after 13 years …

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Vermont Mutual Promotes McDonnell to Executive VP, COO

Vermont Mutual Insurance Group has promoted Mark J. McDonnell to executive vice president and chief operating officer of the Group. McDonnell is an industry veteran with 30 years of property/casualty experience. He has been serving as senior vice president at …

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Virginia Sets Up Fund to Cope With Sea-Level Rise

Virginia has set up a new revolving loan fund designed to help property owners prepare for rising sea levels. But the Virginian-Pilot reports that the fund has no funds and may not have any money for several years. Still, Virginia …

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Delaware Fines Insurers $83K for Market Misconduct

The Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 for violating state insurance regulations. Fines generally result from a market conduct examination of a company’s practices performed by …

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Florida’s Universal Insurance Holdings Raises $10M in Share Sale

Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. Universal said it sold 583,771 shares of common stock to  RenaissanceRe Ventures Ltd., a subsidiary of RenaissanceRe Holdings Ltd. …

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Florida Braces for Rate Hikes, Litigation Due to Workers’ Compensation Fee Ruling

The Florida Supreme Court’s ruling that the state’s current attorney fee limits are unconstitutional will have serious ramifications on the workers’ compensation market in the state, according to Florida Insurance Commissioner Kevin McCarty and other workers’ compensation experts. Those ramifications …

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West Virginia Doctor Gets 8 Years in Drug, Health Care Fraud Case

A pain clinic doctor in Beckley, West Virginia, has been sentenced to eight years in federal prison for illegally prescribing a controlled substance and submitting false health care claims. Dr. Jose Gordinho was sentenced Wednesday in federal court in Beckley. …

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Alabama Medical Marijuana Bill Headed to Governor

The Alabama legislature on Wednesday voted to decriminalize medicinal marijuana oil possession. In a 95-4 vote in the House of Representatives and a 29-3 vote in the Senate, legislators supported a bill supporters say is a bid to help families …

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The Hartford Profit Fell 30% in Q1 Due to Higher Auto Losses, Lower Investment Income

The Hartford reported disappointing personal lines result for the first quarter of the year, which along with decreased investment income contributed to a 31 percent drop in profit for the quarter. First quarter 2016 net income totaled $323 million, down …

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Hackers in Bangladesh Bank Cyber Heist Pocketed About $70M; NY Fed Criticized

Hackers are likely to get away with about $70 million of Bangladesh’s foreign reserves after a brazen cyber-attack against the South Asian nation, according to Finance Minister Abul Maal Abdul Muhith. The Philippines — where most of the funds ended …

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QBE North America Promotes Burkhart to Head of Specialty Management, Professional Liability

QBE North America has promoted John Burkhart to senior vice president and head of Management Liability & Professional Lines (MLPL). In this newly created role, Burkhart will assume responsibility for QBE North America‘s entire Specialty MLPL portfolio, which includes its …

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How Model for Preventing Workers’ Chronic Pain Claims Was Born

In response to rising chronic pain claims, Travelers announced the development of a new patent-pending predictive model designed to identify claims and workers most at risk. The company, which developed the Early Severity Predictor (ESP) program, manages more than 250,000 …

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Large Insurers Eager But Cautious About Drone Insurance Market

A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone use. However, many insurers currently are proceeding with caution in light of uncertainty about how the drones will be used …

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Young Consumers More Trusting of Autonomous Vehicles: J.D. Power

Trust in automation technology including driverless cars is very much age dependent, as younger consumers have a notably higher level of confidence in the technology than their older counterparts, according to the J.D. Power 2016 U.S. Tech Choice Study. While …

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HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced the introduction of TechAdvantage™, its new standard equipment breakdown policy. The company said it is the first equipment breakdown insurance product covering undetectable physical damage …

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Zurich Canada Appoints Healey as Sr. VP, Distribution & Regional Management

Zurich Canada has appointed Patrick Healey as senior vice president, Distribution and Regional Management. Healey will be responsible for leading and managing broker relationships and supporting market-facing underwriting colleagues towards the goal of continuing to make Zurich more customer focused, …

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Swiss Re Q1 Net Income Down 15% to $1.23B; New Head of Reinsurance Named

Swiss Re AG, the world’s biggest reinsurer, reported first-quarter net income that beat analyst estimates after a quiet period for natural catastrophes. Net income fell to $1.23 billion from $1.44 billion a year earlier. Six analysts surveyed by Bloomberg estimated …

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Why People Overestimate the Risk of Black Swan Events

In his 2007 book “The Black Swan: The Impact of the Highly Improbable,” finance writer Nassim Nicholas Taleb attempted to educate the public about the danger of rare, unusual events. This is obviously important in the world of finance — …

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Lockton Benefit Group Adds Leopold as Chief Medical Officer

Lockton Benefit Group, based in Kanas City, Mo., has added Dr. Ronald S. Leopold to its national Lockton Health Risk Solutions practice. As leader of the practice, Dr. Leopold will combine his clinical knowledge with Lockton’s proprietary InfoLock data intelligence platform to improve …

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Oklahoma Commissioner to Insurers: Pay Roof Repairs that Meet Building Codes

In the midst of storm season, the Oklahoma Insurance Department (OID) is reminding insurance companies to cover roof repairs that meet state or local building codes. OID issued a bulletin to insurers on April 25 after receiving multiple consumer complaints. …

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EPIC’s McNeil Named to California Water JPA Risk Management Board

David McNeil, a principal in the EPIC Insurance Brokers and Consultants’ Inland Empire division, has been appointed to the advisory board of the California Association of Mutual Water Companies Joint Powers Risk and Insurance Management Authoriy. The authority is a …

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Climate Change and the Conservative Republican

If you’re a conservative Republican, there’s a decent chance that you believe in climate change. Compared with two years ago that is. Don’t tell this to Rush Limbaugh or presidential hopeful Donald Trump – though he seems to have warmed …

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Climate Change and the Conservative Republican

If you’re a conservative Republican, there’s a decent chance that you believe in climate change. Compared with two years ago that is. Don’t tell this to Rush Limbaugh or presidential hopeful Donald Trump – though he seems to have warmed …

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Florida Supreme Court Finds Attorney Fee Schedule Unconstitutional; Passes on Other Key Workers’ Comp Case

The Florida Supreme Court has ruled that the state’s mandatory attorneys’ fee schedule for workers’ compensation cases is unconstitutional under both Florida and the U.S. Constitution as a violation of due process. The state’s top court also declined to rule …

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Connecticut Gov. Signs Order Strengthening State Building Code

Connecticut Gov. Dannel Malloy announced that, as Connecticut faces more frequent and severe weather events as a result of global warming, he is directing state agencies to develop new building code standards that will better protect residential and commercial structures …

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TV Host Erin Andrews Settles Nashville Marriott Case, Ends Appeals

Sportscaster and TV host Erin Andrews on Monday settled with two hotel companies that were found partially to blame for a stalker posting secretly-recorded nude video of her on the Internet. A jury in March had already awarded Andrews $55 …

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Willis Capital Markets & Advisory Appoints Lien as Managing Director, Hong Kong

Willis Towers Watson has appointed Vincent Lien as managing director of Hong Kong for Willis Capital Markets & Advisory (WCMA), the firm’s investment banking business. Reporting to WCMA co-CEOs, Michael Guo and Rafal Walkiewicz, Lien will be based in Hong …

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Florida Supreme Court Hears Constitutional Challenge to Workers’ Comp System

Oral arguments were heard April 6, 2016 by the Florida Supreme Court in a case brought by an injured nurse challenging the constitutionality of the entire Florida Workers’ Compensation system. The high court could now be ready to decide on …

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CDI: Trucking Company Owners Cheated Workers’ Comp Carrier out of Millions

A pair of California trucking company owners were arrested for cheating their worker’s compensation insurer out of millions of dollars. Alvin Shin Chen, 54, and Fiona Xilin Chen, 46, both of La Cañada Flintridge, Calif., were arrested this week at …

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AAIS Offers Its First Personal Auto Program for Insurers; Includes 60 Endorsement Options

The property/casualty insurance advisory organization AAIS has unveiled its first standardized personal auto insurance program for use by insurers that it says is the first new auto program available to the industry in decades. The American Association of Insurance Services …

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NCCI Sees Stable Trends in New England

The National Council on Compensation Insurance says it is seeing generally stable trends in Connecticut, Maine, New Hampshire, Rhode Island and Vermont — five New England states where NCCI serves as a licensed rating and statistical organization. “Overall, the NCCI …

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Beecher Carlson Hires Miller as Managing Director in NYC

Beecher Carlson Insurance Services, a specialized large account risk management broker and a wholly-owned subsidiary of Brown & Brown Inc., has hired Megan Miller as managing director. She will be responsible for developing and managing large risk management accounts, with …

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Honolulu Rail Project at Risk of Flood Damage

A group of residents is prepared to take Honolulu, Hawaii officials to court over the city’s multibillion-dollar rail project because of concerns that the rail could be vulnerable to flood damage. The Honolulu Star-Advertiser reported the “Do Rail Right” group …

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EPA Nails Tesoro’s Washington Oil Refinery for Safety Violations

The U.S. Environmental Protection Agency has fined the Tesoro oil refinery in Anacortes, Wash. nearly $720,000 for alleged safety violations. The EPA said last week it filed a complaint seeking penalties for violations found during two facility inspections in 2011. …

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Marsh Reports Q1 Growth of 2%; Guy Carpenter 3%

Global insurance, risk and consulting firm Marsh & McLennan Companies Inc. reported growth across all of its companies in for the first quarter ended March 31, 2016. Consolidated revenue in the first quarter of 2016 was $3.3 billion, an increase …

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French Startup Drivy (‘Airbnb for Cars’) Raises $35M to Expand; Insured By Allianz

Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued expansion across Europe. Already operating …

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Volvo to Launch Autonomous Driving Trial in London in 2017

Swedish car maker Volvo plans to begin an autonomous driving trial in London in 2017. Volvo said it is pioneering the development of autonomous driving (AD) systems globally as part of its commitment “that no one will be seriously injured …

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Republicans Call for State Pools to Replace Obamacare Safeguards for Sickest Insureds

U.S. House of Representatives Speaker Paul Ryan called on Wednesday for an end to Obamacare’s financial protections for people with serious medical conditions, saying these consumers should be placed in state high-risk pools. In election-year remarks that could shed light …

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President Obama Gets Trade Secret Protection Bill Passed by Congress

The U.S. Congress on Wednesday passed and sent to President Barack Obama legislation strengthening legal protection for companies’ trade secrets, including manufacturing processes and computer methods. The House of Representatives voted 410-2 to approve the “Defend Trade Secrets Act” on …

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Uber’s $100M Class Action Settlement Falls Short for Some Drivers

Uber’s proposed settlement of a high-profile class-action lawsuit last week has drawn opposition from some drivers and other concerned parties as the ride-hailing service seeks to avoid reclassifying drivers as employees. The settlement, which still must be approved by a …

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PERILS Joins Singapore’s NatCatDAX, Helping to Close Asia Nat Cat Protection Gap

  PERILS, the Zurich-based independent organization providing industry-wide catastrophe insurance data, announced it has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, which has been set up to help increase data availability for natural catastrophe insurance in …

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Lloyd’s Market Urged to Use Oasis Open-Source Cat Models for Wider Risk View

Lloyd’s managing agents should take full advantage of Oasis, the open source catastrophe modeling platform in order to get wider views on catastrophe risks, urged Tom Bolt, Lloyd’s director of performance management. “Catastrophe models are valuable tools, but each model …

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Captive Manager Marsh IAS Promotes 2 Senior Leaders in Bermuda

Marsh IAS has appointed Jill Husbands as chairman of Marsh IAS Bermuda and Lawrence Bird as head of office in Bermuda. Husbands succeeds David Ezekiel who retired on Dec. 31, 2015. Husbands will focus on strategic growth initiatives and key …

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Robot Cars Complain About Humans’ Poor Roads, Lane Markings, Signage

Volvo’s North American CEO, Lex Kerssemakers, lost his cool as the automaker’s semi-autonomous prototype sporadically refused to drive itself during a press event at the Los Angeles Auto Show. “It can’t find the lane markings!” Kerssemakers griped to Mayor Eric …

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Texas Roofer Fined $80K for Repeated Workplace Hazards

Federal safety regulators have levied $80,280 in penalties against Quick Roofing LLC for repeatedly exposing workers to falls, ladder hazards and eye injuries. The Occupational Safety and Health Administration (OSHA) said the employer has been cited six times in three …

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Proposal for Food Inspection Cuts in Louisiana Raises Health Risk Concerns

More people could be exposed to foodborne illnesses in Louisiana if lawmakers approve a provision in the governor’s 2017 budget proposal which would lead to fewer inspections of the retail food industry, officials said. The Department of Health and Hospitals …

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Texas, Louisiana Residents Sue Toledo Bend Dam Operator Over Flooding

Nearly 240 Texas and Louisiana residents have sued the Sabine River Authority over March flooding that inundated hundreds of homes and closed Interstate 10. Communities in Southeast Texas and Louisiana were flooded by up to 20 inches of rain last …

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Michigan Regulators Recover Over $1.7M for Consumers in Marc

The Department of Insurance and Financial Services (DIFS) Office of Consumer Services assisted 8,353 consumers across the state and helped recover more than $1.7 million. “We strive to create and maintain active relationships with both consumers and licensees in the …

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Chubb Expands Environmental Insurance Products, Services

Chubb has broadened the availability of its premises pollution liability and other environmental insurance coverages and risk management products through its newly expanded distribution network. Chubb’s Environmental products distribution network has grown from nine to 48 branch offices, as a …

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Alabama Jury Orders Dollar General to Pay Injured Truck Driver $925K

A jury in Lauderdale County, Alabama has returned one of the largest personal injury verdicts in the county’s history, finding Dollar General at fault for injuries sustained by a Kentucky delivery driver five years ago. News outlets report that the …

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Board to Ponder Rules for Marijuana Consumption at Alaska Stores

Marijuana regulators in Alaska plan to consider rules this week for consuming marijuana products at authorized retail pot stores, a first among states that have legalized the recreational use of pot. Late last year, the Marijuana Control Board voted to …

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Motorists Insurance Group Reports Strong Results for 2015

The Motorists Insurance Group, based in Columbus, Ohio, announced it recorded a strong performance in 2015, which included underwriting profits across all lines, $729 million in direct written premium, and a combined ratio of 98.8 percent. The group released its …

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Brooks Joining Kemper as Senior VP, Chief Information Officer

Chicago-based Kemper Corp. announced that effective May 2, Charles T. Brooks will join the company as senior vice president and chief information officer Brooks will be based in Chicago and will report directly to Joseph P. Lacher, Jr., Kemper’s president …

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New York Comptroller Urges Tighter Rules, More Insurance for Oil Trains

New York state’s comptroller urged federal authorities Tuesday to strengthen safety measures against oil spills and require trains to carry sufficient insurance to cover cleanup costs from major accidents. Comptroller Thomas DiNapoli is administrator of New York’s $40 million Oil …

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UJA-Federation of N.Y. to Honor Casserley, Dangelo, Hershman

UJA-Federation of New York, a philanthropic organization, announced three honorees to be recogznied at this year’s General Insurance Annual Dinner. The event will be held on May 31 at Grand Hyatt New York in Manhattan. This year’s honorees are Dominic …

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Arkansas Measure Would Cap Medical Non-Economic Damages at $250K

Arkansas Attorney General Leslie Rutledge has approved the wording of a measure to limit lawsuit damages awarded against health care providers, clearing the way for supporters to try and put the proposal on the November ballot. Rutledge certified the proposed …

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Kingstone Hires AIG Exec Delaney as Senior VP in New York

Kingstone Companies Inc., a multi-line regional property/casualty insurance holding company based in New York, announced that David Delaney has joined the senior management team at its subsidiary Kingstone Insurance Company as senior vice president of Business Development. Delaney brings over …

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Kansas Tornado Damages 10 Homes, Destroys Trailer

The National Weather Service is surveying damage from a northern Kansas tornado that left two people with minor injuries, damaged about 10 homes and destroyed a trailer. National Weather Service meteorologist Brian Barjenbruch says the tornado hit at night on …

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Ohio Court Seeks Heirs in $2M Asbestos Claim Payout

A northeast Ohio court is trying to track down for heirs to hundreds of rubber workers who died or became very ill because of exposure to asbestos as it looks to pay out about $2 million in legal claims. Heirs …

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Pilots in Fatal 2015 Ohio Crash Were Fired from Previous Jobs: NTSB

  Both pilots in a chartered-jet crash last year in Akron, Ohio, that killed seven employees of a Florida real estate company had been fired from previous jobs for performance issues, investigators said. All nine people aboard the Hawker 125-700A …

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2 Ohio Property/Casualty Insurers Approved to Operate in Arkansas

Arkansas Insurance Commissioner Allen Kerr has approved Ohio-based All America Insurance Co. (AAIC) and Central Mutual Insurance Co. (CMIC) to do business in the state. The companies now have the authority to offer property, casualty, surety, and marine products in …

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Mercury Insurance Launches Ride-Hailing Coverage in Illinois

Mercury Insurance is now offering ride-hailing insurance to cover Uber, Lyft and other Transportation Network Company (TNC) drivers in Illinois. This new coverage will provide drivers with insurance that will bridge the gap between their personal auto insurance and the …

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FEMA: Nearly $30M in Disaster Assistance Going to Texas in Aftermath of March Storms

More than $29.9 million in federal and state aid to date is helping the residents of 13 Texas counties recover from the severe storms, tornadoes and flooding in March, the Federal Emergency Management Agency (FEMA) Assistance is ongoing and residents of Erath, Gregg, Harrison, Henderson, …

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Central U.S. States Hit with Tornadoes, Strong Storms

A powerful spring storm brought strong winds and baseball-sized hail to several central states on April 26, with tornadoes spotted in Kansas and Oklahoma as the severe weather marched east, forecasters said. The storm knocked down tree limbs and left …

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Some Senior Drivers Have Higher Crash Risk

Older drivers with a history of falling have a 40 percent higher risk of being involved in motor vehicle crashes. But despite this increased risk, drivers ages 40 – 80 still have a lower risk of being involved in a …

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West Virginia to Receive $8M From Wells Fargo in Marketing Practices Dispute

Wells Fargo will pay $8 million to West Virginia as part of a settlement of a decade-long dispute involving marketing practices. Attorney General Patrick Morrisey announced Monday that Wells Fargo will pay the money to the Office of the Attorney …

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Balcony Collapses Near South Carolina University, Injures 4

Authorities say about 15 people were standing on a balcony that collapsed at a house near South Carolina’s Clemson University, injuring several of them. The Greenville News reports that four people were taken to a hospital after the collapse April …

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Oregon Women Sue Kaiser Over Ex-Nurse Facing Sex Abuse Charges

Two Oregon women who claim they were sexually abused by a nurse at a Beaverton clinic have filed a $1 million lawsuit against Kaiser Permanente over claims of negligence. The Oregonian reported the suit filed this week claims Kaiser failed to …

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Average to Below-Average Wildfire Season Expected for Colorado

Firefighters said Tuesday they expect another average or below-average wildfire season in Colorado in 2016, the third mild year in a row. “That’s always good news,” Gov. John Hickenlooper said after announcing the outlook. But even an average year can …

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Champion Risk Acquires Adams Clay Insurance in California

San Diego, Calif.-based Champion Risk & Insurance Services has acquired Clay Insurance Brokerage Co. in Rancho Santa Margarita. Terms of the deal weren’t released. The acquisition is effective May 1. Robert Swanson, owner of Adams Clay, will join Champion Risk. …

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Ironshore Product Recall Coverage for Food Industry Covers Rehabilitation, Loss of Income

Ironshore Pembroke Managing Agency Ltd. is offering  Product Contamination Recall Insurance, focusing on risk exposure within the food and beverage industries. Contamination and subsequent recall occurrences can be triggered by accidental human error, malicious product tampering and product extortion throughout …

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10 Things Young Insurance Agents Like, and Don’t Like, About Their Jobs

Overall, young agents are happy with their career choice. They enjoy the freedom and challenges that come with being independent agents. But they are not thrilled with every aspect of their career choice. Who is? The April 4  issue of …

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Munich Re Issues First Quarter Profit Warning on Lower Equity Investments

Munich Re, the world’s second-biggest reinsurer, fell the most since August 2013 after saying first-quarter profit will be lower than it previously expected. Earnings for the quarter will also be lower than a year earlier after market turmoil caused the …

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Global Insurance Fintech Investment Grows by 237% in 2015: Accenture Research

While insurance historically has been a laggard in the fintech race, it is increasingly a high-growth investment area in the fintech field, according to research from Accenture. Accenture’s fintech research reveals that the overall increase in global insurance investment levels …

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Aon Launches Next Generation of ReMetrica for Risk & Capital Modeling

Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, has launched ReMetrica Version 7.0 – its next generation platform for risk and capital modeling. Following Solvency II and equivalent regulation, insurers are demanding more value from their …

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Global Risk Partners Backs LONMAR’s MBO, Supporting Its Growth Strategy

Global Risk Partners, the acquisitive insurance broking and managing general agency (MGA) investment vehicle, has agreed to back the management buyout of LONMAR GLOBAL RISKS, the specialist Lloyd’s broker. The transaction is subject to regulatory approval. LONMAR’s management team, led …

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Mitsubishi Motors Faces Uncertain Future as Fuel Test Scandal Deepens

For the second time in about a decade, Mitsubishi Motors Corp. faces a scandal that poses an existential threat. The Japanese automaker has improperly tested the fuel economy of its cars for the past quarter century, widening the scope of …

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Aspen Re Appoints Cardona as Managing Director for Latin America & Caribbean

Aspen Insurance Holdings Ltd. announced that its reinsurance segment, Aspen Re has appointed Hugo A. Cardona as managing director for Latin America and Caribbean. Cardona will join Aspen on May 2 from Odyssey Reinsurance Co. where he was chief underwriting …

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Plaintiff Seeks Future Revenues to Settle Led Zeppelin Copyright Spat

Lawyers suing members of rock supergroup Led Zeppelin say their client is willing to settle a lawsuit over the band’s most famous song–a claim potentially worth millions of dollars–for just $1. The catch is that band members Robert Plant and Jimmy Page would …

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Reuters Special Report: How Google Is Winning Acceptance of Driverless Economy

The Alamo Drafthouse Cinema Plaza in Austin, Texas is a strip mall with a pet-accessories store, a Thai restaurant and a yogurt shop, an unlikely venue to display the high-tech future. But one Saturday morning in March, Google did just …

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Conn. Court: Law Doesn’t Bar Suits Against Cigarette Manufacturers

Cigarette manufacturers aren’t immune to lawsuits by smokers who get sick, Connecticut’s highest court ruled Monday in a decision that bolsters the case of a smoker who was stricken with laryngeal cancer and won a $28 million judgment against R.J. …

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New York Among States With Highest Rate of Motorcycle Theft

The New York Insurance Association (NYIA) advises that motorcycle thefts in New York increased by 23 percent from 2014 to 2015. According to a report from the National Insurance Crime Bureau (NICB), motorcycle thefts nationwide increased by 6 percent during …

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Florida Gov, CFO at a Standstill Over Next Insurance Commissioner

For the second time in a month, Florida Gov. Rick Scott and Chief Financial Officer Jeff Atwater could not reach an agreement over who will become the next insurance commissioner for the state. At the April 26 Florida Cabinet Meeting, …

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JenCap Holdings Acquires Trivedi-Capacity in New Jersey

JenCap Holdings LLC, a portfolio company of private-equity giant Carlyle Group, has acquired Trivedi-Capacity Associates LLC, a specialist MGA and wholesaler based in Mahwah, New Jersey. Terms of the transaction were not disclosed. Trivedi-Capacity is a provider of specialty programs …

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JenCap Holdings Acquires Trivedi-Capacity in New Jersey

JenCap Holdings LLC, a portfolio company of private-equity giant Carlyle Group, has acquired Trivedi-Capacity Associates LLC, a specialist MGA and wholesaler based in Mahwah, New Jersey. Terms of the transaction were not disclosed. Trivedi-Capacity is a provider of specialty programs …

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Vermont’s Latest Captive Bill Signed Into Law

Vermont Gov. Peter Shumlin has signed new legislation, H-538, that allows sponsored or industrial insured captives that are inactive to enter a dormant status. This status would allow such types of captives to be exempted from premium taxes but stay …

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Xl Catlin Appoints McGrath as Fine Art & Specie Underwriter in NYC

Xl Catlin has appointed Kyle McGrath as Fine Art & Specie underwriter. She is based in New York City. In her new role, she will underwrite Fine Art and General Specie coverage for clients throughout the U.S. and will be …

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Investors Back Trov, On-Demand Platform for ‘Insurable Moments’ and Items, with $35M

Investors have pledged $39 million for a technology platform that allows consumers to insure their valuable things and turn the coverage on and off whenever they want with swipe of a finger on their smartphone. In the words of the …

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Port Authority of N.Y.-N.J. Could Block $10M Newark-Uber Deal

A tentative deal between Newark, New Jersey, and ride-hailing company Uber has hit a roadblock. The Port Authority of New York and New Jersey, which operates Newark Liberty International Airport, is raising concerns about the city’s proposal to receive $1 …

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A.M. Best: Texas Hail Storm Damage Poised to Exceed 9-Year U.S. Average

A.M. Best says year-to-date 2016 results in Texas alone appear to have already met the nine-year average for hail storm damage in the United States. According to Best’s Briefing, titled, “Texas Hail Storm Damage Poised to Exceed Nine-Year Average—And It’s …

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Ratings of State Automobile Mutual Insurance Co. and Subs Afirmed

A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Columbus, Ohio-based State Automobile Mutual Insurance Co. (State Auto) and its operating subsidiaries. Concurrently, A.M. Best has affirmed the ICR of …

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Worker Falls into Vat; World’s Largest Sauerkraut Cannery Fined $143.5K

A Wisconsin food cannery faces $143,550 in federal penalties after a 35-year-old worker fell more than 17 feet into an empty sauerkraut vat and broke multiple bones. It marks the fourth time since 2011 that the U.S. Department of Labor’s Occupational …

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Labrie Joins Hanover Stone Partners in Connecticut

Hanover Stone Partners, a risk management services firm based in Jersey City, New Jersey, has hired Daniel Labrie as senior risk advisor. Based in Berlin, Connecticut, Labrie will help provides a wide array of governance and related advisory services for …

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Michigan Manufacturer to Pay $187.5K to Settle EEOC Disability Discrimination Suit

A paper and packaging manufacturer with a facility located in Battle Creek, Mich., will pay $187,500 to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC said its lawsuit charged that RockTenn Company …

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Japan Aims to Beef up Nuke Safety Check Competency After Bad Review

Japanese nuclear regulators said Monday they will revise laws, nearly double inspection staff and send some inspectors to the U.S. for training to address deficiencies cited by the International Atomic Energy Agency. The Nuclear Regulation Authority announced the plans in …

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Howard Promoted to Shareholder, Vice President at Gillis, Ellis & Baker

New Orleans-based insurance and risk management firm, Gillis, Ellis & Baker (GEB), announced that Jeff Howard has been promoted to shareholder and vice president of the firm. Howard joined Gillis, Ellis & Baker in 2011 as an insurance producer. He …

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Reconstruction of Quake-Damaged Heritage Sites Begins in Nepal

Nepal’s prime minister announced this week the start of reconstruction of key heritage sites in and around the capital that were damaged by an earthquake that killed nearly 9,000 people and devastated the country one year ago. Prime Minister Khadga …

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FEMA Grants Proof of Loss Extension to Louisiana NFIP Policyholders

Louisiana Insurance Commissioner Jim Donelon announced that the Federal Emergency Management Agency (FEMA) has granted a 60-day extension on filing the Proof of Loss form for National Flood Insurance Program (NFIP) policyholders who were affected by storms across the state …

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AIG, Hamilton, Two Sigma to Launch to Small-Medium Business Joint Venture

American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to form create a technology-enabled insurance platform for sales to the small to medium-sized enterprise (SME) market. The announcement said …

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Retrofitting in Utah, Nevada Spurred by Earthquake Report

A new report raising the likelihood of a destructive earthquake striking Salt Lake City, Utah in the next half century has underscored the urgency to retrofit more than 30,000 older brick homes and other unreinforced buildings at high risk of …

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EPIC Adds McKinney and Neer in Northern California

EPIC Insurance Brokers and Consultants has added Victoria McKinney as a team leader and employee benefits consultant and Robin Neer as an account executive. Both will be based in EPIC’s Gold River office in the Sacramento area under the leadership …

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Who Wins, Loses In a Driverless Car Economy?

The automotive and tech companies pursuing the driverless car share a utopian belief: Autonomous vehicles will benefit society, eventually saving most of the nearly 33,000 people each year killed in road accidents in America alone. “If the situation was reversed, …

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Google, Ridesharing Firms, Automakers Form Lobby Group for Self-Driving Cars

A group of companies including Alphabet Inc.’s Google, Ford Motor Co. and Uber Technologies Inc., are forming a coalition to advocate for safety regulations for self-driving cars and to bring them to American roads. The group, which also includes Volvo …

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Assurant to Pick Up Policies as Nationwide Exits Federal Flood Insurance Program

Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it plans to begin …

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Family of Atlanta Man Who Fell to Death at Braves Stadium Sues Team, MLB

The family of the fan who plunged to his death last year from an upper deck at Turner Field has filed a lawsuit against the Atlanta Braves and Major League Baseball. The Atlanta Journal-Constitution reports that the family of 60-year-old …

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Fire at Orlando Apartment Complex Damages 22 Units

More than 50 residents were displaced following a fire at an apartment complex in Orlando on April 21. Fire officials tell news outlets that crews were called to the Regency Gardens condominium around 2 p.m. Orlando police Cpl. Jason Engelhardt …

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Assurant Names Waghray Chief Technology Officer in Atlanta

Assurant, Inc. has appointed Ajay Waghray to the role of chief technology officer and to the company’s management committee, effective May 9, 2016. In this newly created role, Waghray will drive technology strategy and align IT with business objectives across …

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Paragon Names Bay-Weber President of Excess And Surplus in California

Paragon Insurance Holdings LLC in California has named Jill Bay-Weber president of its excess and surplus commercial business division. Bay-Weber has been responsible for the development and underwriting of many specialty programs over the last 20 years. She most recently held …

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Burnham Benefits Names Corp Senior Account Manager in California

Burnham Benefits Insurance Services Inc. has named Sara Corp a senior account manager. Corp will be located in the Sacramento, Calif. area. She has more than 15 years of experience working in employee benefits. Corp spent four years as an …

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KMRD Partners Adds 2 Risk Managers in Pennsylvania

KMRD Partners, an insurance brokerage and risk management services firm based in Warrington, Pennsylvania, has hired John Garber and Karl Granlun as risk managers. Garber’s role as risk manager, Client Advisory Services, will include responsibilities for risk management, human capital, …

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Allied World Launches Product Recall Insurance in North America

Allied World Assurance Company Holdings, AG has added product recall insurance products for the U.S. and Canada through its Global Crisis Management Division. The product recall insurance offers both first party and third party coverage and it allows clients to …

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Hostetter Joins Jack Martin & Associates in Maryland

Jack Martin & Associates, a division of Easton, Maryland-based Avon-Dixon Agency, announced that Damon Hostetter has rejoined the firm. Hostetter will be the agency’s Yacht Division executive. He most recently was senior vice president of Chubb Recreational Marine, formerly ACE …

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Uber Hit With $11M Fine in Pennsylvania

Pennsylvania regulators fined Uber $11.4 million on April 21 — a record for the utility commission — for operating for six months in 2014 without the required approval. The company said it would appeal. The Public Utility Commission, which also …

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Oklahoma Law Limits Fines for Failure to Show Proof of Auto Insurance

Legislation now signed into law by Oklahoma Gov. Mary Fallin will keep some motorists with insurance from receiving a fine when they fail to carry their insurance verification form. House Bill 2473, by state Rep. Ken Walker, would remove the …

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New York Commences Liquidation Proceedings for Health Republic

The New York State Department of Financial Services (DFS) announced that it has commenced a liquidation proceeding for the failed insurance cooperative Health Republic. The New York State Supreme Court will be supervise the liquidation proceeding, with the DFS superintendent …

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Report: Missouri Recovered $15M-Plus for Insurance Consumers in 2015

The Missouri Department of Insurance, Financial Institutions and Professional Registration has released its 2015 Annual Report highlighting insurance industry data and department accomplishments, including the recovery of more than $15 million for insurance consumers in the state. “This report illustrates …

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Arkansas Admits New Life, Accident, Health Insurance Provider

Atlantic Coast Life Insurance Company (ACL) has been approved to do business in Arkansas, the state insurance department announced. ACL, a South Carolina domestic insurer since 1925, currently offers a variety of life, preneed and limited benefit accident and health products …

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Remaining Flood-Displaced Houstonians Get Temporary Housing

Officials in Houston have closed the last of the city’s shelters and moved more than 150 families into temporary housing following the torrential rains that claimed eight lives and displaced thousands of people in the region. Mayor Sylvester Turner said …

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California Public Utilities Commission Oks New Ridesharing Regulations

The California Public Utilities Commission has approved new regulations for ridesharing companies like Uber and Lyft, including where identifying logos should go and stricter vehicle inspections. The San Francisco Examiner reported that the companies will now need to open their …

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Hawaii Teenager Says Uber Driver Sexually Assaulted Her

A man who worked as an Uber driver is charged in the sexual assault of a 16-year-old passenger in Hawaii. Uber deactivated the driver, who was charged with two counts of first-degree sexual assault and one count of attempted sex …

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California Uber and Lyft Car Rental Decision Delayed

The first major product of General Motors Co.’s $500 million investment in Lyft Inc. was a short-term car-rental program. Last month, the companies began leasing Chevrolets in Chicago for up to eight weeks as part of the Express Drive program, …

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2016 Atlantic Hurricane Season Should See Normal Activity of 12 Names Storms: CSU

The coming Atlantic hurricane season should produce a near-average 12 named storms before it ends in November, according to Phil Klotzbach, lead author of the pioneering Colorado State University forecast. At least five of those storms will reach hurricane status, …

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Colorado State Hurricane Forecaster Gray Passes Away

He changed the way the world looks at hurricanes, and in later years he challenged the science behind climate change, but most people will probably remember Bill Gray as the creator of the modern seasonal forecast for Atlantic storms. Gray …

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Ryan Specialty Launches Marine Unit; AIG’s Pecci and Stahl to Lead

Specialty insurance firm Ryan Specialty Group (RSG) has formed a specialty marine underwriting business and tapped two executives who were formerly with American International Group (AIG) to lead it. The newly-formed specialty marine underwriting manager is named Safe Waters and …

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Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS

RMS, the Newark, Calif.-based catastrophe risk management firm, estimated that economic property damage for both the April 15 moment magnitude (Mw) 7.0 earthquake and April 14 Mw6.4 earthquake in Japan’s Kumamoto Prefecture to be between $2.5 billion and $3.5 billion. …

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U.S. Issues Zika Safety Guidelines for Outdoor Workers, Business Travelers

U.S. health and safety officials issued new guidelines on Friday to help protect workers from exposure to Zika, a mosquito-borne and sexually-transmitted virus that causes the birth defect microcephaly and other neurological disorders. The new rules, issued by the Centers …

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Australia Nears Record for Fewest Cyclones Since 1970 – Thanks to El Niño

El Niño is getting some of the credit as Australia nears a record for the fewest tropical cyclones since 1970. “With the end of the season approaching and only three cyclones so far, the 2015-16 Australian region tropical cyclone season …

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Bangladesh Bank Cyber-Heist Hackers Exploited Vulnerabilities in SWIFT Software

The attackers who stole $81 million from the Bangladesh central bank probably hacked into software from the SWIFT financial platform that is at the heart of the global financial system, said security researchers at British defense contractor BAE Systems. SWIFT, …

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Factbox: An Overview of Effects of ‘Brexit’ on UK Financial Services

Britain, Europe’s biggest financial center, votes on June 23 on whether to leave the European Union. The country’s banking and fund management industries are among those that could lose most from a so-called Brexit, many analysts have said, though much …

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Carpenter Promotes Stubbings as CEO of Bermuda Unit; Keegan Named Sr. VP

Guy Carpenter & Co. has promoted Peter Stubbings as CEO of the firm’s Bermuda operations, with immediate effect. In addition, Richard Keegan will join the Bermuda team as senior vice president in May. Previously chairman of the Bermuda office, in …

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Trucking Co. to Settle Fatal Crash of 5 Georgia Students for Millions

The employer of a tractor-trailer driver blamed for a fiery interstate crash that killed five Georgia nursing students has agreed to settle wrongful death lawsuits for large sums, with at least one victim’s family receiving $14 million, attorneys in the …

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250 Homes in South Carolina Still Need Work 6 Months After Floods

Leaders of nonprofit groups in Horry County, South Carolina, say that, six months after historic rains inundated South Carolina, volunteers are needed to help repair hundreds of homes in the county. The Sun News reports many of those homes are …

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Fallout from Travelers CGL Cyber Ruling: Buyers and Sellers Beware

Experts are cautioning both insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Experts are cautioning both insurance buyers and sellers not to overreact …

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Key Florida Players to Highlight Importance of Catastrophe Reinsurance

Although the role of catastrophe reinsurance in a wind exposed region is intuitively obvious to an insurance professional and most insurer rating agencies, the need for transparency, education and open dialogue on this important topic is necessary. Consumers, members of …

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The Crichton Group in Tennessee Promotes 2

The Crichton Group, an independent insurance agency in Middle Tennessee, has promoted Austin Madison, a partner, to senior vice president, and Blake Weidman to partner and vice president. As senior vice president, Madison will continue to manage and lead the …

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Flood Mapping Tools to Help Residents in South Dakota’s Big Sioux River Basin

The state of South Dakota is working on new online flood mapping tools for the Big Sioux River Basin. The Google maps-style program should allow cities, counties, developers and emergency managers to test the flooding potential of increased flows in …

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Insurer Among Parties Arguing over Cause of Flooded Homes in Nebraska

The city of Bellevue, Neb., the Metropolitan Utilities District, a plumbing contractor and its insurance company disagree about who’s to blame for a ruptured water line that flooded about 12 homes in February. The Omaha World-Herald reported that Gearhart Plumbing, …

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$17M Award in Asbestos Death of Navy Civilian Employee in Arizona

A federal jury in Phoenix, Ariz. on Friday awarded $17 million in damages to the family of a retired civilian employee of the U.S. Navy who died from the fatal asbestos disease mesothelioma after working for years in the Norfolk …

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Ultra Risk Advisors in Washington Names McDonald Underwriting Director

Bellevue, Wash.-based Ultra Risk Advisors has named Karen McDonald underwriting director for its program providing liability coverage for senior living facilities. McDonald has more than 10 years of underwriting experience in the senior living sector. Ultra Risk Advisors is a …

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4 More Upstate New York Mayors Join Call to Let Uber Expand

The mayors of four cities in upstate New York have joined an effort to allow Uber to expand outside of New York City. Mayors in Ithaca, Utica, Rome and Hornell on Thursday endorsed a proposal before the state Legislature which …

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Willis Towers Watson Upgrades Credit Risk Trading Platform

Willis Towers Watson, has launched a next generation version of Mercury, its credit risk placement platform which offers clients the ability to bind credit insurance policies themselves over an online portal. Originally developed in the 1990s, the concept was moved …

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Donegal Group Reports $11.8M Q1 Net Income

Donegal Group Inc. reported net income of $11.8 million for the first quarter of 2016, a 73 percent increase over $6.9 million for the first quarter of 2015. The Marietta, Pennsylvania-based insurer said net premiums written for the 2016 first …

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Safety Specialty Insurance Co. Assigned A Rating by A.M. Best

A.M. Best has assigned a financial strength rating of A+ (Superior) and an issuer credit rating of “aa-” to Safety Specialty Insurance Co., based in St. Louis, Mo. The outlook assigned to each rating is stable. According to A.M. Best, …

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Medical Marijuana Expansion Bill Passes in Louisiana Senate

A day after falling one vote short, backers of a proposal to expand Louisiana’s medical marijuana law to cover more diseases found success in the state Senate. Senators voted 21-16 for the proposal from Sen. Fred Mills, R-Parks on April …

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NBAs Thunder Among Groups Opposing Oklahoma Gun Bills

Firearms bills to allow most Oklahoma adults to openly carry guns without any training or background checks have led to a showdown in Oklahoma between supporters of expanded gun rights and the state’s business community, including the NBA’s Oklahoma City …

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Outgoing Florida Commissioner McCarty Talks How Hes Changed Whats Next

Serving in a highly-scrutinized government position like insurance commissioner for any state, let alone one facing such serious catastrophe risks as Florida, certainly has its challenges. Outgoing Florida Insurance Commissioner Kevin McCarty says during his nearly 13-year tenure he’s tried …

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Motorcycle Helmet Repeal Bill Defeated in Louisiana House

A bid to repeal Louisiana’s motorcycle helmet requirement narrowly failed in the state House. House Bill 337 fell shy of the 53 votes needed to advance to the Senate for consideration. Lawmakers voted 49-46 in support of the measure. Rep. …

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OSHA Fines Storage Tank Company $95K for Missouri Workplace Hazards

A federal agency has found that a storage tank manufacturer is continuing to expose workers in Missouri to hazardous levels of a chemical than can cause lung cancer and other health problems. The Occupational Safety and Health Administration said that …

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New Trial Granted for South Dakota Woman Convicted in Arson for Insurance Case

A woman convicted of setting fire to a bar and grill she co-owned in the South Dakota town of Herreid to get insurance money has been granted a new trial. A jury in February found 42-year-old Lori Brandner guilty of …

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A.M. Best: Ratings of National Unity Insurance Downgraded Withdraw

A.M. Best reported it has both downgraded and withdrawn the ratings for National Unity Insurance Company (National Unity) in San Antonio, Texas. National Unity specializes domestic non-standard auto business, as well as  in insuring Mexican cars and commercial trucks traveling …

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Rhode Islands Falvey Yacht Insurance Adds 2 to Underwriting Team

Falvey Yacht Insurance, a North Kingstown, Rhode Island-based managing general underwriter specializing in yacht insurance, has hired Laura Sherrod and Craig McGinnes to join the firm’s group of yacht underwriting experts. Sherrod will be senior vice president and McGinnes will …

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UPC Insurance Receives Approval to Acquire Interboro in New York

United Insurance Holdings Corp. (UPC Insurance), a property/casualty insurance holding company based in St. Petersburg, Florida, announced that it received formal approval from the New York State Department of Financial Services (NYDFS) to acquire Interboro Insurance Company. UPC Insurance first …

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Groups: California Auto Repair Regs Will Increase Auto Insurance Rates

As the California Department of Insurance stages hearings on proposed regulations designed to give more money to auto body repair shops, a handful of property/casualty insurance trade associations are voicing their opposition to the proposals. The groups are: The American …

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Big I Agents Honor Wilson with Yates Lifetime Achievement Award

The Independent Insurance Agents & Brokers of America (Big “I”) has awarded Bill Wilson with the Jeff Yates Lifetime Achievement Award, the highest honor the association bestows on a non-agent, for a lifetime of work in the independent agency system. …

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Cameras Trained on Mountains around Lake Tahoe Help Wildfire Battle

A growing network of cameras trained on the mountains around Lake Tahoe is changing the way crews fight Western wildfires by allowing early detection that triggers quicker, cheaper, more tactical suppression than traditional war-like operations, experts said this week. The …

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At Least 36 Killed by Distracted Driving in Arizona Last Year

State transportation officials say 36 people died and more than 8,000 were involved in accidents as the result of distracted driving last year. April is national Distracted Driving Awareness Month and Arizona Department of Transportation officials are sending a message …

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Uber to Settle Suit for $100M Drivers Stay Independent Contractors

Uber has agreed to pay up to $100 million to settle a class-action lawsuit which resolves a major challenge to its business model by allowing the ridesharing service to keep its California and Massachusetts drivers as independent contractors. The lawsuit …

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Plaintiffs Suing Dating Site Ashley Madison Over Data Breach Must Identify Themselves: U.S. Judge

Plaintiffs leading a lawsuit against online dating website Ashley Madison over a security breach that exposed the personal data of customers must publicly identify themselves to proceed with the case, a U.S. judge has ruled. Forty-two plaintiffs, seeking to represent …

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XL Catlin Names Zurichs Riordan to Head Global Political Risk Trade Credit Unit

XL Catlin has appointed Dan Riordan as president, Global Political Risk & Trade Credit (PRTC), reporting to Neil Robertson XL Catlin’s chief executive, Global Specialty, Insurance.  The appointment also marks a structural change at XL Catlin with PRTC becoming a …

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Uber Settlement Doesnt Settle Gig Economys Independent Contractor vs. Employee Dispute

Uber Technologies Inc. resolved the biggest threat to its business by settling with California drivers suing to be treated more like traditional employees, a move that could have broad-ranging implications for companies across the sharing economy. The agreement calls for …

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Rental Car Firms Losing Out to Ridesharing

Taxis aren’t the only ones that may be stressing out about Uber Technologies Inc. Transactions from the ride-hailing startup have surpassed rental cars among American professionals, according to Certify, the second-largest provider of travel and expense management software in North America. Uber accounted …

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100-Year Floods Happen More Often Than People Think

Eleven months ago, Houston had a deadly flood. This week, the city had another. Events like these are often called “100-year floods,” and that can be misleading. The U.S. government began using the term in the 1960s to describe a …

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Aspen Q1 Operating Income Decreases to $89.9M from $98M in Q1 2015

Bermuda-based Aspen Insurance Holdings Ltd. reported net income after tax of $114.4 million, or $1.68 per diluted share for the first quarter of 2016, compared with $128.0 million reported for the same quarter in 2015. Operating income after tax for …

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Indias 1st Insurer IPO Paves Way for More Public Offerings in $60B-Plus Industry

India will get its first life-insurance listing since it opened up to private-sector investors 16 years ago, paving the way for more companies seeking to go public in an industry that’s since grown to more than $50 billion. Housing Development …

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Hiscox Appoints Hussain as Group Chief Financial Officer

Hiscox Ltd. announced that Hamayou Akbar (‘Aki’) Hussain will join the Hiscox Group as group chief financial officer. Hussain will join Hiscox from Prudential plc, where he spent seven years; latterly as chief financial officer of Prudential UK & Europe. He sits on …

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SCOR Raises P&C Premiums by 4.7% During April Renewals; Profits on Target

SCOR Global P&C increased gross written premiums by 4.7 percent at the recent April renewals, based on constant exchange rates, with total premiums rising from €420 million ($474.7 million) to €440 million ($497.3 million). Premiums renewing on or around April …

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West Virginia Supreme Court Reverses Dismissal of Age Discrimination Case

The West Virginia Supreme Court has reversed a previous ruling it made that dismissed a lawsuit alleging age discrimination. The Charleston Gazette-Mail reports that the court on April 14 reversed its decision to uphold a judge’s ruling which dismissed 65-year-old …

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Athlete Attorney: NCAA Also to Blame for UNC Academic Fraud Scandal

An attorney representing two ex-North Carolina athletes says the school and NCAA are both responsible for UNC’s long-running academic fraud scandal that he says denied athletes a quality education. Michael Hausfeld said April 19 in a hearing in federal court …

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Obama Makes Impassioned Appeal for Britain to Stay in European Union

U.S. President Barack Obama made an impassioned appeal on Friday for Britain to remain in the European Union, saying membership had magnified Britain’s place in the world and made the bloc stronger and more outward looking. Fearful that a British …

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Ecuadorto Raise Taxes Sell Assets to Fund Multi-Billion Dollar Quake Rebuilding

Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multi-billion dollar reconstruction after a devastating 7.8 magnitude quake, a somber President Rafael Correa said on Wednesday. The death toll from Ecuador’s …

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Florida to Interview 2 More for Insurance Commissioner McCarty Delays Departure

The Florida Cabinet will interview two new candidates for the soon-to-be-open Florida insurance commissioner post at its April 26 meeting, in addition to the two candidates interviewed last month. In the meantime, current Florida Insurance Commissioner Kevin McCarty notified the …

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Fatal Occupational Injuries Fell in California in 2014 Latest Report Shows

The number of Californians who died on the job fell in 2014, according to the latest data available from the California Department of Industrial Relations. The DIR compiled the data from the Census of Fatal Occupational Injuries and reported it …

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Maine Police Step Up Distracted Driving Enforcement

The Augusta, Maine, Police Department says officers in the state’s capital city will be more focused on cracking down on distracted driving from now until September. Sgt. Christian Behr says extra patrols dedicated to limiting distracted driving will be deployed …

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Allstate Racks Up Big March Losses from Southwestern Hailstorms

The Allstate Corp. this week announced estimated catastrophe losses for the month of March of $638 million pre-tax, and an estimated $827 million pre-tax for first quarter 2016, in the wake of severe hailstorms in the Southwestern and Southern U.S. Catastrophe losses …

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New Hampshires Minkler Honored With Big I Woodworth Memorial Award

The Independent Insurance Agents & Brokers of America has awarded Tom Minkler with the Woodworth Memorial Award, the highest honor the association bestows on one of its members, during the annual Big “I” Legislative Conference. Minkler is president of the …

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Peoples United Acquires Eagle Insurance in Massachusetts

People’s United Bank, N.A. in Bridgeport, Connecticut, announced Thursday that its subsidiary, People’s United Insurance Agency, has acquired Eagle Insurance Group, a Raynham, Massachusetts-based insurance brokerage. Terms of the transaction were not disclosed. Formed in 2010, Eagle Insurance Group provides …

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Travelers Profit Drops 17% in Q1 Due to Texas Storms

The Travelers Companies Inc. reported net income of $691 million for the quarter ended March 31, 2016, down 17 percent from  $833 million in the prior year quarter. Operating income in the current quarter was $698 million compared to $827 …

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NYS Department of Financial Services Names Fischer to Lead Insurance Division

New York’s financial regulator promoted Scott Fischer to be the state’s top insurance watchdog, a position that involves overseeing about 1,700 companies with more than $4 trillion of assets. Fischer, 44, a former corporate attorney, was named executive deputy superintendent …

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Florida Commissioner McCarty Saying Goodbye: Its Been a Labor of Love

“It’s not for the faint of heart, I can tell you that… Anyone who comes in here and thinks it’s an easy job really does not have any idea what they’re getting into. But it’s been a joy… It’s been …

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Employers Pay As 32% of Opioid Prescriptions Are Abused: Report

Nearly one out of every three (32 percent) opioid prescriptions, which are subsidized by America’s employers, is being abused, according to a report by a healthcare data and technology company. San Francisco-based Castlight Health Inc. released the study, “The Opioid …

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American Lung Association Says California Has Nations Dirtiest Air

Millions of Californians live in places with dirty air, according to an annual report card issued this week that ranks two major urban areas in the state as the nation’s most polluted. Bakersfield tops the list for having the most unhealthy …

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Montana Medical Marijuana Backers Launch Ballot Measure to Loosen Limits

Advocates for medical marijuana in Montana have begun gathering signatures for an initiative that would ask voters to undo legislation limiting the use of the substance. But backers of I-182 have just nine weeks to collect the 24,175 valid signatures …

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California High Court to Review Industry Custom in Liability Cases

The California Supreme Court has granted review to consider when and if evidence of industry custom and practice is admissible in a strict products liability action. In Kim v. Toyota Motor Corp. plaintiff William Jae sued Toyota for injuries Kim …

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Stolen 1981 Ferrari Recovered After 29 Years: NICB

A 1981 Ferrari GTSI that has been missing for 21 years has been recovered, according to the National Insurance Crime Bureau (NICB). The car, reported stolen in 1987 from Newport Beach, Calif. while on consignment at a dealership, was recovered …

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Stolen 1981 Ferrari Recovered After 29 Years: NICB

A 1981 Ferrari GTSI that has been missing for 21 years has been recovered, according to the National Insurance Crime Bureau (NICB). The car, reported stolen in 1987 from Newport Beach, Calif. while on consignment at a dealership, was recovered …

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Cyber Thieves Working Overtime Before Credit Card Chips Curtail Their Retail Business

Cyber-thieves see new credit card chip technology being adopted by U.S. retailers closing a lucrative window of opportunity to steal your data. So they want to move fast. “We’ve actually seen a number of discussions, in some cybercrime communities, where they’re …

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OSHA: 3 in South Central States Killed when Riding Mowers Overturn

In the past month, three landscape company employees have died in Louisiana, Texas and Arkansas when riding mowers or tractors overturned into water or a stream bed — equaling the total in the previous six years, a federal safety official …

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Wrongful Death Lawsuit Limits Upheld in Missouri

The Missouri Supreme Court has ruled that caps on how much money someone can win in a wrongful death lawsuit do not violate the constitution. The decision says a person’s right to a jury trial in those cases is not …

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Guilty Plea Expected for Fire at North Dakota Somali Restaurant

An attorney for a Minnesota man accused of firebombing a Somali restaurant across the North Dakota border in Grand Forks said that any racial overtones were overblown by people who aren’t familiar with the case. Defense attorney Ted Sandberg made …

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Ex-Insurance Agent in East Texas Sentenced to 3 Years for Fraud

A former insurance agent in East Texas must serve three years in prison for running a $5 million medical investment scam. Robert B. Hahn was sentenced in federal court in Tyler. The 64-year-old Tyler man in November pleaded guilty to …

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Ex-Insurance Agent in East Texas Sentenced to 3 Years for Fraud

A former insurance agent in East Texas must serve three years in prison for running a $5 million medical investment scam. Robert B. Hahn was sentenced in federal court in Tyler. The 64-year-old Tyler man in November pleaded guilty to …

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Chubb Tempest Re Names Lee-Amies Head of Marine & Energy Succeeding Neave

Chubb Tempest Re, the global reinsurance division of Chubb, has appointed Neil Lee-Amies to the role of head of Marine and Energy, Chubb Tempest Re. Formerly Marine & Energy Excess of Loss underwriter at legacy Chubb, Lee-Amies will be responsible …

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China Suspends New Registrations of Internet-Based Finance Firms: News Report

China suspended new registrations of finance companies nationwide as authorities started a crackdown on internet finance, business magazine Caixin reported, citing unidentified people familiar with the matter. Applicants with finance-related names or businesses can no longer simply register with local …

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Ruschlikon Expands Global Reach in 2015; Use of ACORD Standards Rises 20%

Ruschlikon, the global community of insurers, brokers and reinsurers with a mission to optimize industry administrative costs and enhance client services, announced achieved several important milestones in 2015 — a year that saw an expansion of its global footprint. Ruschlikon* …

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VW Reported Close to $10 Billion Deal with U.S. for Diesel Fraud

Volkswagen AG has agreed to set aside at least $10 billion to resolve civil claims by the U.S. government and lawsuits by American car owners over diesel vehicles rigged to cheat pollution controls, a person with direct knowledge of the …

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Allied Worlds Q1 Investment Income Rises 20%; Combined Ratio Worsens to 96%

First, the good news about Allied World’s 2016 first quarter: investment income grew by nearly 20 percent. Many other things for Allied World Assurance Company Holdings AG, however, were on a downward trajectory compared to the same period in 2015, …

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Willis Aon and Verisk Agree: Q1 Cat Bonds Hit Record Issuance

There’s more evidence that catastrophe bond issuance hit record territory again during Q1. This time, Aon Securities and a division of Willis Towers Watson are making the call, after a Verisk arm did so earlier in April. The Aon Benfield …

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Japanese Earthquakes Could Cost Insurers $2.9 Billion: AIR Worldwide

An earthquake that struck southern Japan on April 16 will probably cost insurers as much as 320 billion yen ($2.9 billion), according to catastrophe modeler AIR Worldwide. The cost might be as low as 180 billion yen, the company said …

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Starr Companies Enhance Cyber Terror Response Offering

Starr Companies has formed an agreement to offer services from NYA International (NYA) and Abernathy MacGregor as part of the organization’s newly launched Cyber and Terror Response offering. The coverage provides comprehensive coverage for the losses associated with cyber attacks, …

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Tennessee Says At Least 15% of State Affected by UnitedHealth Withdrawal

The Tennessee Department of Commerce & Insurance (TDCI) is notifying consumers that UnitedHealthcare Insurance Company will no longer offer coverage to Tennessee consumers through the Federally Facilitated Marketplace (FFM). UnitedHealth Group Inc. announced this week it will drop out of …

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Kentucky Worker Electrocuted While Trimming Trees

Kentucky State Police say a man has been electrocuted while trimming trees in Breathitt County. Police said in a statement that 23-year-old Justin Miller of Perry County, died Monday morning while cutting tree limbs in the Whick community. Witnesses told …

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The Keating Group in Arizona Rebrands As tKg Wholesale Brokerage

Phoenix, Ariz.-based The Keating Group, the wholesale brokerage arm of Keating Cos., has rebranded as tKg Wholesale Brokerage. James Keating, CEO of tKg and parent Keating Cos., said the change is to show the brokerage is a national wholesaler with …

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San Antonio Storm Costliest Hail Event in Texas History

More than 110,000 vehicles and thousands of homes in Texas regions of north San Antonio and Bexar County were pelted by large hail in what will become the costliest hailstorm in Texas history, according to the Independent Insurance Agents of …

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Do Drunk Drivers Have Constitutional Rights?

Can you be charged with a crime for refusing to take a Breathalyzer test when stopped on suspicion of drunken driving? It’s hard to think of a constitutional rights question that affects more people. On Wednesday, the Supreme Court will …

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Massachusetts Workers Comp Rates to Rise an Average of 1.5%

Massachusetts Gov. Charlie Baker’s administration announced Wednesday that the state’s workers’ compensation rates will rise an average 1.5 percent beginning July 1. Officials said this nominal increase is the result of a settlement between the Division of Insurance’s State Rating …

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MarketScout Expands Workers Compensation Division with Atlanta Hire

MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, has expanded its Workers’ Compensation division by adding three insurance professionals in San Francisco, Las Vegas and Atlanta. Jonathan Maloney will be based in Atlanta and joins MarketScout …

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Unaddressed Cultural Clashes Cause Many M&A Failures: Willis Towers Watson

Many insurers see cultural integration as a major post-deal challenge, but few use employee engagement as an indicator of integration success, according to a survey of senior insurance executives conducted by Willis Towers Watson M&A Risk Consulting in conjunction with …

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Uber Agrees to $10M Fee in Deal With Newark New Jersey

The mayor of Newark, New Jersey, has released details on a tentative agreement he’s reached with ride-hailing company Uber to operate in the state’s largest city. The deal calls for Uber to pay Newark $1 million a year for 10 …

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Sandy Hook Families Lawsuit Against Bushmaster Gets Trial Date

The maker of the assault rifle used in the 2012 massacre of more than two dozen students and teachers at Sandy Hook Elementary School was ordered to allow its executives to be questioned ahead of a trial of a lawsuit …

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Sierras Along California Nevada Line Long Overdue for Big Quake

Scientists say the Sierra’s eastern front is long overdue for a large earthquake along the California-Nevada line, where a magnitude-7 event expected on average every 30 years hasn’t occurred in six decades. Nevada Seismology Laboratory Director Graham Kent says the …

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USI Acquires Brooks Insurance in Ohio

USI Insurance Services has acquired Toledo, Ohio-based Brooks Insurance. Brooks employees will remain at their Toledo and Bowling Green locations. Terms of the deal were not disclosed. Brooks provides property/casualty, employee benefits, bonds and surety, homeowners, renters, automobile, watercraft and personal …

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Heaven Moves from Aon to Markel Internationals Credit & Political Risk Division

Markel International, the London-based specialist insurer and subsidiary of Markel Corp., has appointed Lida Heaven as an underwriter in its trade credit and political risk division. Heaven previously worked as a political risk and structured credit broker at Aon Risk Solutions. …

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One-Size Doesnt Fit All in Todays Evolving Homeowners Market

The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and new pieces that address …

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Global Financial Leaders Warn About Dangers of Negative Interest Rates

The chorus of global financial leaders warning about the fallout from negative interest rates is getting bigger. Nobuyuki Hirano, president of Mitsubishi UFJ Financial Group Inc., lambasted the Bank of Japan’s negative rates last week for putting banking stability at …

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Liberty International Names Capicchioni to Head U.S. Railroad Line

Liberty International Underwriters, part of Liberty Mutual Insurance, has appointed Robert Capicchioni to vice president of its U.S. Railroad product line. Previously, Capicchioni was underwriting manager in LIU’s Casualty group. In his new role, Capicchioni will be responsible for underwriting, …

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Gen Res Benet Joins Beazley to Head Partners Solutions Group

Specialty insurer Beazley has appointed Elizabeth Benet, formerly of General Re,  to head  new business development for its partner solutions focus group. Beazley’s specialty treaty team partners with insurance carriers to provide them with turnkey insurance products such as employment …

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Fire Risk Prompts Recall of 133000 Polaris All-Terrain Vehicles

Polaris Industries Inc., of Medina, Minn., is cooperating in a recall of about 133,000 all-terrain vehicles due to a fire risk, according to the Consumer Product Safety Commission (CPSC). The recalled ATVs include Polaris model years 2013-2016 RZR 900 and …

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Catastrophe Exposure Grows with Selective Use of Alternative Capital: A.M. Best

Insurers in the London, Europe and Bermuda markets writing catastrophe-exposed business take a different approach to retention of risk at the 1-in-100-year return level in comparison to the 1-in-250-year level, according to report published by A.M. Best. At the lower …

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CGSC Appoints Wallin as Group Commercial Director with M&A Expertise

Cooper Gay Swett & Crawford (CGSC), the London-based reinsurance, wholesale and specialty broker, announced the appointment of Andy Wallin as group commercial director. He takes up the role with immediate effect. Wallin brings to his new role over a decade …

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AmTrust Seeks to Boost Lloyds Presence with Purchase of Specialty Insurer ANV

AmTrust Financial Services said it has agreed to buy specialty insurance company ANV Holdings B.V. and its Lloyd’s affiliates for $218.7 million in cash. The seller is the Ontario Teachers’ Pension Plan. As part of the acquisition deal, AmTrust said …

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Brexit Would Risk Londons Role as Top Financial Center: Bank of Englands Carney

The City of London should expect its preeminent role in the global financial system to fade if Britain leaves the European Union, according to Mark Carney. The governor of the Bank of England — the de facto custodian of the …

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UnitedHealth to Drop Individual Obamacare Plans in Multiple States

UnitedHealth Group Inc. will drop out of government-organized health insurance markets in at least 16 states as the U.S. industry leader tries to stem losses from participating in Obamacare, the healthcare overhaul that has brought coverage to millions of people. …

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South Florida Zoo Reopens After Deadly Tiger Attack

The South Florida zoo where a veteran keeper was attacked and killed by a Malayan tiger reopened Monday as authorities from several local, state and federal agencies continue investigating what led to the deadly attack on April 15. Speaking in …

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QBE Enhances Equipment Breakdown Coverage to Address New Technologies

QBE North America, an operating division of QBE Insurance Group, has enhanced its equipment breakdown coverage with equipment breakdown and technology insurance to cover losses resulting from microelectronic failures. Microelectronics, with circuitry thousands of times smaller than a human hair, …

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Commentary: Navigating Floridas Comparative Fault Statute

During the life of a Florida claim, risk managers, adjusters or clients often ask, “What kind of jurisdiction is Florida for fault?” And all too often, the answer given since 2006 is, “purely comparative.” This is a reference to the …

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Fire at Tennessee Apartment Complex Kills 1 Destroys 11 Homes

One person has died and 11 homes have been destroyed following a fire at an apartment complex in Harriman, Tenn. Harriman Fire Department Chief David Bailey tells news outlets that the fire broke out Sunday morning at the Oasis Apartments …

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Oklahoma Bill Aimed at Stopping repeat DUI Offenders

A measure to track and keep repeat impaired drivers off Oklahoma roads has passed the state Senate. House Bill 3146, authored by Sen. Greg Treat and Rep. Mike Sanders, will require all driving under the influence (DUI) cases to be …

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Outlook for Columbia Insurance Revised to Stable: A.M. Best

A.M. Best has revised the outlooks to stable for Columbia Insurance Group (Columbia) and its subsidiaries. Additionally, the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” are reaffirmed. According to A.M. Best, the outlook revisions to …

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Outlook for National Lloyds Insurance Revised to Stable

A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a” of National Lloyds Insurance Co. (National Lloyds). Additionally, A.M. Best has affirmed the …

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Sanford Joins ECC Insurance Brokers in Illinois

ECC Insurance Brokers Inc., a subsidiary of Brown & Brown Inc., has added Stephen Sanford in Oak Brook, Ill., as vice president. Sanford joins ECC from Hiscox Insurance’s Executive Liability Group where he was lead underwriter for D&O, EPL, fiduciary, …

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Iowa State Basketball Coach Sued by Former Star Player for Discrimination

Former Iowa State basketball star Nikki Moody has sued coach Bill Fennelly, the university and the state for racial discrimination and retaliation, saying she was repeatedly called a “thug” and labeled a selfish player despite being the program’s career assists …

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Report: Ammonium Nitrate Still Close to Schools Houses in Texas

A newspaper analysis has found that while some safety steps have been taken across Texas following the deadly 2013 explosion at a plant in West, tons of the same kind of fertilizer that exploded there can still be found near …

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Supreme Court Hears Claim Against Hospital for Allegedly Defrauding U.S.

The U.S. Supreme Court on Tuesday struggled with the question of when federal contractors can be sued for defrauding the government in a case involving a 19-year-old Massachusetts woman who suffered a fatal 2009 seizure at a mental health facility. …

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Business Risk Partners Adds 2 New Underwriters in Connecticut

Business Risk Partners (BRP), a specialty underwriter and program administrator based in Windsor, Connecticut, has added two new underwriters to its professional liability team: Maggie Mae Kores as senior underwriter for miscellaneous professional liability (MPL) and Michael DiClemente as underwriter …

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IIABNY CEO Poppa to Retire After 38-Year Career

The Independent Insurance Agents and Brokers of New York (IIABNY) announced that president and CEO Richard Poppa will retire at the end of 2016 after leading the association for nearly 20 years. Poppa has served as IIABNY’s chief staff executive …

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Three Northern California Insurance Firms Merge

McDermott Costa Insurance, Mello Insurance Services and Myers‐Stevens Mello & Co. have merged. The firms will conduct business out of the McDermott Costa office in San Leandro. Mello Insurance is based in Fremont and provides business and personal insurance coverage. …

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New York AG Sues Health Insurer Over Hepatitis C Treatment

New York’s attorney general has filed a lawsuit against an Albany-area health insurer that he says broke the law by denying coverage for expensive hepatitis C treatments until patients showed advanced symptoms of the disease such as moderate to severe …

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AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance

AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group. The new venture, called “AXA Africa Specialty Risks,” will be dedicated to covering specialty insurance lines in Africa, focusing on …

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South Carolina Beach City Says Rented Mopeds Golf Carts Must be Registered

Myrtle Beach, South Carolina, is giving companies that rent mopeds, powered scooters, golf carts and other low-speed vehicles a month to have the vehicles inspected and registered with the city. Local media outlets report there have been numerous complaints about …

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TigerRisk Hires Swiss Res Kusche as Partner in New York

TigerRisk Partners LLC, a reinsurance broker and risk/capital management advisory firm, has hired Philipp Kusche as partner and global head of Insurance-Linked Securities(ILS) and Capital Solutions. Based in TigerRisk’s New York City office, Kusche will develop next-generation ILS and other …

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Pennsylvania Becomes 24th State to Legalize Medical Marijuana

Pennsylvania has become the 24th state to legalize a comprehensive medical marijuana program. Democratic Gov. Tom Wolf signed the bill into law Sunday afternoon surrounded by a jubilant crowd of supporters at the Capitol building in Harrisburg. “Marijuana is medicine …

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Budget Cuts Hamper Ability of Kansas Forest Service to Fight Fires

The Kansas Forest Service has faced budget constraints as it works to deal with wildfires, including the largest in state history that scorched hundreds of square miles of land last month. Larry Biles, director of the Kansas Forest Service, told …

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XL Catlin Appoints Guest as Country Manager Singapore Insurance

XL Catlin’s insurance segment has appointed David Guest as country manager for Singapore. In this role, he is responsible for the development and growth of XL Catlin’s insurance business in Singapore, in addition to his current role as regional leader for crisis …

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More Crashes Fewer Tickets in Ohio as Speed Limits Rise

A newspaper analysis has found that an increase in the speed limit along stretches of rural Ohio interstates has resulted in more accidents and fewer tickets. The Columbus Dispatch reports that state troopers wrote 55,000 tickets last year on rural …

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Idaho Ski Park Developer Settles with EPA over Asbestos Violation

A Boise, Idao ski and snowboard park developer has agreed to pay the federal government $10,000 to settle a claim that it violated asbestos removal regulations. The Idaho Statesman reported that Gateway Parks LLC was accused of not giving the …

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Former Southern California Fire Official Gets $704K in Age Discrimination Suit

A jury has awarded $704,000 to a former division chief for the San Bernardino County Fire Protection District who alleged in a lawsuit he was fired due to his age. The Sun newspaper reported that the 62-year-old George Corley was …

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Rural Utah Fire Departments Grind to Keep Up Daytime Manpower

Fire chiefs in rural Cache Valley say when someone calls 911, they always manage to send a team to help, but the harsh reality is they don’t have enough volunteers to handle daytime calls. “It’s a tough time to scare …

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White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment

White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that total, White Mountains used $160 million to …

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Former N.J. Chiropractor Accused of Role in $4M Insurance Fraud Ring

New Jersey authorities say a chiropractor whose license was revoked more than a decade ago played a role in a medical fraud ring that allegedly stole nearly $4 million from insurance companies. Philip Potacco faces numerous counts, including conspiracy and …

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Oklahoma to Hold Hearing on Earthquake Insurance Rate Increases

Concerned about a competitiveness in the state’s earthquake insurance market, Oklahoma Insurance Commissioner John D. Doak has ordered a public hearing to investigate rising rates. The May 24 hearing will include data gathered by the Oklahoma Insurance Department as well as …

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XL Catlin Exec Chairs Public-Private Initiative to Close Protection Gap for Disasters

The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly from the burden of uninsured economic losses after natural disasters. The Insurance …

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Court Upholds NFLs $765 Million Concussion Settlement as Fair

The National Football League’s $765 million concussion settlement was found by a federal appeals court to be fair, if imperfect. The decision sets in motion the resolution of thousands of lawsuits covering more than 20,000 retired players. About 1 percent opted …

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States with Ignition Lock Laws Curb Drunk Driving Deaths by 15%

State laws that require drivers who’ve been convicted of drunk driving to pass a breathalyzer-type test before starting their cars saved an estimated 915 lives between 2007 and 2013, according to a new study. The findings represent a 15 percent …

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Advent Solutions Targets $100M Expansion in Global Delegated Authority Market

Advent Solutions Management, the specialist provider of support services for start-ups, entrepreneurs and managing general agents, announced plans to create a multi-discipline insurance business with gross assets of US$100 million. Advent will target growth in the global delegated authority market …

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General Star Management Adds Title Agents E&O Program

General Star Management Co. has launched a new E&O program for title agents. Available in all jurisdictions except for Alaska, Hawaii, Louisiana, and West Virginia, the program is offered through American Insurance Professional LLC, of Phoenix, the sole program administrator …

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Owner of 9 Group Homes in Alabama Decertified by State

The Alabama Department of Mental Health decertified the owner of nine group homes in northern Alabama. State officials delivered the notice to K&D Group Home executive director Katie M. Smith that the state was immediately revoking her license, the Decatur …

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Autism Insurance Coverage Bill Passed by Oklahoma Senate

The Oklahoma Senate has approved legislation that requires health insurers to cover the treatment of children with autism. The Senate voted 36-5 for House Bill 2962 and returned it to the House for consideration of Senate amendments. The legislation requires …

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Farmers Launches Rideshare Insurance Coverage in Georgia

Farmers Insurance has introduced new rideshare insurance coverage for drivers in Georgia. According to Mariel Devesa, head of product innovation for Farmers Insurance, the coverage is available to ridesharing drivers as part of their Farmers personal auto insurance policies. Farmers …

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Alliant Insurance Services Hires Johnson Court as Fine Art Specialist in Miami

Fine art specialist Sarah Johnson Court has joined Alliant Insurance Services as vice president servicing a diverse portfolio of high-net-worth clients around the world while playing a key role in expanding Alliant’s reach within the fine art sector. She is …

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Louisiana Insurance Commissioner Seeks Extension of Flood Claim Deadline

Insurance Commissioner Jim Donelon is asking the Federal Emergency Management Agency (FEMA) to extend its deadline for Louisiana homeowners impacted by flooding, the insurance department announced. A federal disaster declaration issued March 13 has been expanded to cover 36 Louisiana …

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Cordes Insurance Joins Missouri-Based Insurance Alliance

Valley Insurance Agency Alliance (VIAA), a network of nearly 100 independent agencies in Missouri and Southern Illinois, recently added Cordes Insurance Agency in Shelbyville, Ill. Cordes Insurance Agency, owned by Mark Cordes and Angie Durbin, is a full-service insurance agency …

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Tarpey Insurance Acquires W.C. Huntress Insurance in Massachusetts

Tarpey Insurance Group Inc., a family-owned and operated independent insurance agency with five locations and headquartered in Wakefield, Massachusetts, announced that it recently acquired W.C. Huntress Insurance Agency in the Boston suburb of Melrose, Massachusetts. Terms of the transaction, which …

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New York Launches New Effort to Increase Teen Driver Safety

New York state is launching a new effort to reduce teen driver deaths and injuries. Timed to coincide with high school proms, spring dances and graduations, the campaign includes public awareness and stepped up law enforcement near high schools around …

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Miller Named Executive VP and COO at SFM Mutual Insurance

Terry Miller has been appointed executive vice president and chief operating officer at Bloomington, Minn.-based SFM Mutual Insurance Co. Miller was the company’s original controller. He rose through the ranks in his 30-plus years at SFM to become vice president of …

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Rhode Island Bills Aim to Regulate Uber, Lyft

Rhode Island could become the latest state to set rules for ride-hailing companies such as Uber and Lyft, but first lawmakers must come to agreement on dueling bills — one favored by Uber and the other by traditional taxi operators. …

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Wisconsin Jury Awards $940M to Epic Systems in Tata Trade Secret Case

A jury in Wisconsin has awarded medical software company Epic Systems $940 million in damages in a trade secret lawsuit against Indian information technology provider Tata Consultancies, believed to one of the largest trade-secrets verdicts on record. Epic first sued …

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Company to Pay $10.3M for Cleanup of South Dakota Mine

A Colorado mining company will pay $10.3 million to the state of South Dakota and the federal government to cover part of environmental cleanup costs at an abandoned gold and silver mine in the northern Black Hills, a federal agency …

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Randall, Smith Top Allstate’s List of Stormiest Texas Counties

Texas storms affected more Allstate insured homes in Randall county than any other part of the state over the past five years, while Smith county saw the highest frequency of lightning. Allstate tallied the top 25 Texas counties affected by severe weather; identifying areas with …

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House Committee OKs Use of Automated License Plate Readers

Legislation approved this week in a House committee would authorize the use of automated license plate readers to flag uninsured motorists at a time when Oklahoma leads the nation in uninsured motorists on the road. One in four vehicles in …

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Texas Inundated as Storms Dump More than a Foot of Rain

A slow moving weather system has dumped up to 20 inches of rainfall west and northwest of Houston causing flooding and travel cancellations. Heavy rain primarily east of Austin has sent the Colorado River rising an additional 25 feet causing …

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Proposed Restrictions Building in Oregon’s Flood Plains

Building in flood zones is about to get harder across much of Oregon, due to new federal recommendations. The government published the recommendations, called a biological opinion, in response to a lawsuit from environmental groups. The Audubon Society of Portland, …

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Hawaii Lawmakers Want to Regulate Rideshare Companies

Hawaii lawmakers are considering a bill to close the gap in car insurance coverage for transportation network companies like Uber and Lyft. Supporters of the bill say that, right now, Uber and Lyft drivers might not be covered by insurance …

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CEA Says It Could Pay All Claims if San Francisco 1906 Quake Hit Today

The California Earthquake Authority is taking the opportunity to tout its financial strength on the 110-Year anniversary of 1906 San Francisco Earthquake. CEA, a not-for-profit publicly managed organization that provides residential earthquake insurance, said it would be able pay all covered claims …

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Washington Workplace Deaths in 2015 Fell to Near-Historic Low

Workplace deaths in Washington fell to a near-historic low in 2015, according to a Department of Labor & Industries report. Last year there were 58 work-related deaths in the state, 18 fewer than in 2014, and L&I data shows only …

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California Consumer Group Wants State Farm Homeowners Rate Reduction

State Farm has overcharged its customers roughly $78 million since at least July 2015, and should be required to refund that money, Consumer Watchdog told the California Department of Insurance last week. The group wants State Farm to cut its rates …

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Bangladeshi Investigators Identify 20 Foreign Suspects in Cyber Bank Heist

Bangladeshi investigators have identified 20 foreigners – 12 Philippine nationals and eight Sri Lankans – suspected to have been involved in the cyber heist of tens of millions of dollars from its central bank, a police officer said on Monday. The officer …

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RIMS 2016: Keep Eye on Captives as Cyber Risk Solution

Are cyber captives on the horizon? More and more organizations are considering using captives to address their cyber risks but just as the risk is evolving so is the role of captives in this area, according to an Aon expert. …

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Why Employers Are Sending Retirees to Exchanges for Health Insurance

Planning for retirement is tough enough – and it gets even tougher when retirement benefits you expect to receive from an employer are changed on short notice. But a growing number of U.S. employers are capping their risk of rising …

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Swiss Re’s Revamped U.S. P/C Leadership Team Headed by Wolfe, Ruff, Michaelson

Swiss Re Americas announced a new structure and leaders for the company’s U.S. property/casualty markets. The changes follow Bill Donnell’s departure as president of Swiss Re Americas’ U.S. property/casualty markets to become president and CEO of the workers’ compensation rating …

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EU Contributes $15.8M to Caribbean Catastrophe Risk Insurance Facility

The European Commission has agreed to contribute €14 million ($15.8 million) so the governments of Central American countries and the Dominican Republic can access to “low cost, high quality catastrophe risk insurance.” The agreement will be executed by the World …

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Hearn of CGSC to Become CEO of Lloyd’s Broker CGNMB After Newman Retires

CGNMB LLP, the London-based Lloyd’s broker, announced that Gordon Newman will retire from his role as CEO on April 20. Subject to regulatory approvals, his role and responsibilities will be assumed by Steve Hearn, CEO of Cooper Gay Swett & …

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U.S. Finalizes Offshore Oil Safety Rules

The Obama administration last Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico. The Interior Department’s Bureau of Safety and Environmental …

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U.S. Lags Belgium, France, Other Nations in Domestic Security

The U.S. is less capable of managing security issues within its borders than 32 other nations, including France and Belgium, according to a new global ranking. Singapore is the most capable of maintaining domestic security in the world, while Nigeria …

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Ecuador Earthquake’s Death Toll Rises; AIR Worldwide Comments

World leaders from the Vatican to Washington offered support to Ecuador as casualties mounted following one of the strongest earthquakes to strike the South American country in decades. By Sunday evening, the number of dead had climbed to at least …

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Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined

The death toll from earthquakes that struck southern Japan rose to 42 and the economic impact began to reverberate Monday as companies surveyed damage and the potential effects on production from supply-chain disruptions. The series of quakes that struck the …

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Investor Lawsuit Against SeaWorld Dismissed

A judge in southern California has dismissed a securities fraud lawsuit brought by investors in SeaWorld Entertainment, Inc. who claimed company officials misled them about the impact of the documentary “Blackfish” on the company’s financial performance and attendance at its …

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The Hartford Launches Energy Practice, Taps Pena to Lead

The Hartford has launched a dedicated energy practice to provide specialized underwriting, insurance coverage and risk management services for energy companies. To help lead the company’s overall strategy for the energy industry, The Hartford has named Ric Pena vice president …

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Former UPS Workers Awarded $5.3M in Discrimination Lawsuit

Eight black men won a $5.3 million jury award April 14 in a lawsuit over claims that they endured a hostile work environment at UPS in Lexington, Kentucky, and that an effigy of a black UPS driver was hung from …

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A.M. Best Revises Outlook for Mississippi Farm Bureau Insurance

A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Mississippi Farm Bureau Casualty Insurance Co. in Jackson, Miss. The rating actions reflect …

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Florida-Based SUNZ Insurance Hires Whittle as General Counsel

SUNZ Insurance Co., based in Sarasota, Fla., has hired Russell S. Whittle as the company’s in-house general counsel. Whittle will be responsible for corporate governance as it relates to contracts, regulatory compliance and general corporate matters for SUNZ. In addition, …

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RIMS 2016: Star Trek Tools, Workers Comp’s Future Help Draw Biggest Crowd in 13 Years

Workers’ compensation, geopolitical risks, recalls, disaster response, the captive industry and cyber security were among the topics of sessions held throughout the final day of the annual RIMS conference for risk management and insurance professionals in San Diego, Calif. The …

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Former Connecticut Agency Owner Gets More Than 6 Years for $2M Fraud

A Connecticut insurance agent authorities say defrauded a specialty lender, insurance carriers, the city of Hartford and the state of Connecticut out of more than $2 million to fund a lavish lifestyle has been sentenced to more than six years …

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In Texas Court, Exxon Files to Block Climate-Change Document Subpoena

Exxon Mobil Corp. is squaring off against government investigators who believe the energy giant covered up knowledge of how fossil fuels contribute to climate change. Exxon went to state court this week in Texas to quash a subpoena issued last …

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BKS-Partners in Florida Appoints Ingram to Commercial Risk Management Group

Florida-Based Baldwin Krystyn Sherman Partners (BKS-Partners), has appointed Amy Ingram as managing director of the Commercial Risk Management Group. She will be based in company’s Tampa office. Ingram joins BKS-Partners with more than 20 years of experience in the insurance …

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Von Haden Named PIA 2016 Young Insurance Professional of the Year

Ryan Von Haden, partner and vice president of Business Accounts with TRICOR insurance in Madison, Wis., has been named the 2016 PIA National Young Insurance Professional of the Year. “You know that a young agent is destined to make his mark on …

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Berkley FinSecure Adds Cyber Breach Services to Management Liability Policies

Berkley FinSecure, a W. R. Berkley Company, has enhanced its management liability coverage for policyholders with the electronic banking option to include access to CYBER Carry*Thru, powered by NetDiligence. CYBER Carry*Thru is a private mobile-friendly portal containing information and technical …

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Florida Announces Exit from Multi-State Surplus Lines Clearinghouse NIMA

The Florida Surplus Lines Office (FLSLO) has announced that Florida has made the decision to withdraw from the Nonadmitted Insurance Multi-State Agreement (NIMA), effective June 1, 2016. The decision marks the second state to leave the Agreement, with Louisiana previously …

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5 Accused in California of More than $635K in Tax, Insurance Fraud

Five defendants have been arraigned in California for committing over $635,000 in tax and insurance fraud and failing to pay employees prevailing wage on public works contracts, the California Department of Industrial Relations reported. Babak Brian Abghari, 36, Newport Coast, …

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Water in 19 Detroit Schools’ Contains High Copper or Lead Levels

Elevated lead or copper levels have been found in the water at 19 Detroit schools, amid testing that is also going on at schools around the country in response to the lead-tainted water crisis in nearby Flint. The district says …

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Former California Fire Official Wins Age Discrimination Suit, Awarded $704K

A jury has awarded $704,000 to a former division chief for the San Bernardino County Fire Protection District in California who alleged in a lawsuit he was fired due to his age. The Sun newspaper reported that the 62-year-old Corley …

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Texas Republican Congressman Named Big ‘I’ Legislator of the Year

Rep. Mike Conaway (R-Texas), chairman of the U.S. House of Representatives Committee on Agriculture, is the Gerald Solomon-Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Legislator of the Year for 2015, the association reported. Chairman Conaway …

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Ohio Lawmakers Want Medical Marijuana Legal by Summer

Medical marijuana will be legalized in Ohio by summer, state representatives pledged, calling their legislative effort more responsible and comprehensive than any ballot proposal. The Ohio legislation comes as the national Marijuana Policy Project pursues a medical marijuana issue for …

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Louisiana Lawmakers Back Motorists Bills: License Plate Scans; Texting; Seatbelts

Louisiana lawmakers have approved several bills related to driving safety. A proposal filed by Republican Sen. Ronnie Johns to allow law enforcement agencies to automatically scan motorists’ license plates was passed by a vote of 30-3 in the Senate. Former …

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Most U.K. Public Companies Haven’t Formed ‘Brexit’ Contingency Plans: Survey

More than three-quarters of U.K. public companies surveyed by an auditors’ group haven’t discussed contingency planning for the nation’s potential exit from the European Union with the chairman or the head of the board’s audit committee. Over 60 percent of …

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Chubb Enters into Distribution Agreement with Chinese Retail Giant Suning

Chubb Ltd. announced it has entered into a long-term preferred provider distribution agreement with Suning, one of the largest and most recognized retail brands in China. Under the terms of the agreement, Chubb and Suning will partner to develop and market …

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Verisk Opens Commercial Property Data to MGAs, Program Managers

Verisk Insurance Solutions said it is making its data for loss estimating of commercial properties available to managing general agents (MGA), managing general underwriters (MGU), and program administrators and others in excess and surplus lines. The data had been only …

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Judge: Sandy Hook Families’ Suit Against Bushmaster Can Move Forward

The maker of the assault rifle used in the 2012 massacre of more than two dozen students and teachers must face a lawsuit by victims’ families accusing Bushmaster Firearms International LLC of wrongfully selling the weapon to civilians. Connecticut State …

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Where Prescription Drug Prices Are Headed in U.S.

Spending on medicines increased by double digits for a second year in 2015 and reached $425 billion based on invoice prices. After adjusting for rebates and other price concessions by manufacturers, net spending was $310 billion, up 8.5 percent over …

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Women-Only Rideshare Services Raise Legal Questions

Ride-hailing companies catering exclusively to women are cropping up and raising thorny legal questions, namely: Are they discriminatory? In Massachusetts, Chariot for Women is promising to launch a service featuring female drivers picking up only women and children. Drivers will …

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Rail Union Blames Corporate Changes at Amtrak for Worker Deaths

Railroad union leaders say a “perfect storm” of corporate changes at Amtrak is largely to blame for two workers being killed on tracks near Philadelphia. In a letter sent on April 13 to Amtrak President Joe Boardman, maintenance-of-way and other …

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Maryland Doctor Gets 9 Years in $3M Health Care Fraud Scheme

A Potomac, Maryland, physician who owned and operated a pain management clinic has been sentenced to 9 years in prison for a $3 million health care fraud scheme. Sixty-year-old Paramjit Singh Ajrawat was also ordered to forfeit and pay restitution …

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New York AG Probes Retailers Over Use of On-Call Shifts

New York Attorney General Eric T. Schneiderman, along with officials from attorneys general offices from seven other states and the District of Columbia, recently sent letters to a number of large retail companies regarding their use of “on-call” shifts. Schneiderman …

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Top 10 Most Stolen Motorcycles

The National Insurance Crime Bureau (NICB) reports that motorcycle theft rose six percent in 2015. A total of 45,555 motorcycles were reported stolen in 2015 compared with 42,856 reported stolen in 2014. Motorcycle thefts have been on a nine-year decline …

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