North Carolina’s Outer Banks Reopened as Maria Heads Out to Sea

Maria was finally racing east over the Atlantic on Thursday, giving the United States a rest from the constant threat of tropical weather for more than a month. No injuries have been reported on the U.S. mainland from Maria, which …

from News – Insurance Journal

Senate Democrats Kill House-Backed Private Flood Insurance Policy Measure

A day after the House passed legislation that included a provision to allow private flood insurance policies to satisfy flood coverage requirements, the Senate sidetracked the flood policy measure. The flood insurance policy provision (known as Ross-Castor) was inserted in …

from News – Insurance Journal

N.Y. Appellate Court Affirms Summary Judgement in $58M Insurance Dispute

The Appellate Division of the New York Supreme Court, First Department, has affirmed an earlier Supreme Court decision to grant summary judgement to TransCanada Energy USA and its subsidiaries, TC Ravenswood Services Corp. and TC Ravenswood, recognizing insurance coverage for …

from News – Insurance Journal

Fake Uber Driver in Illinois Accused Of Picking Up and Raping Women

Additional charges have been filed against a suburban Chicago man accused of posing as an Uber driver who picked up women outside bars and raping them. Musaab Afandi of Glenview appeared at a bond hearing Wednesday after DNA testing linked …

from News – Insurance Journal

Chicago Fililng Lawsuit in Massive Equifax Data Breach

The city of Chicago is suing the credit reporting company Equifax over a data breach that exposed personal information of about 143 million people. Mayor Rahm Emanuel’s office says the lawsuit accuses Equifax of violating Chicago’s consumer fraud ordinance and …

from News – Insurance Journal

Michigan High Court to Hear Arguments in Golf Cart Lawsuit

The Michigan Supreme Court is taking a swing at a golf cart dispute. The justices want to hear more about a golfer who was accidentally struck by a cart at Farmington Hills Golf Club in 2013. Ken Bertin and Doug …

from News – Insurance Journal

Canada’s Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer

Intact Financial Corp. said it has completed its acquisition of U.S. specialty insurer OneBeacon Insurance Group from Bermuda-based White Mountains Insurance Group. The purchase price was C$2.3 billion (US$1.7 billion). Toronto-based IFC said the deal makes it a leading provider …

from News – Insurance Journal

Database in Nevada Aims to Accurately Depict Opioid Crisis

Officials say a new state database will help paint a better picture of the opioid crisis in Nevada, as existing data shows opioid-related deaths dropped in 2016 even though hospitalizations and prescription rates rose. The Las Vegas Review-Journal reported that …

from News – Insurance Journal

Suspects in Deadly California Warehouse Fire Plead Not Guilty

Two men have pleaded not guilty in connection with a fire that killed 36 people in an illegally converted Northern California warehouse. Derick Almena and Max Harris entered pleas Wednesday to 36 counts of involuntary manslaughter each. Prosecutors say the …

from News – Insurance Journal

Generali in Germany Launches Next Phase of Restructuring Program

Generali Deutschland has launched the next phase of its restructuring program in Germany, which is one of Generali’s core markets. The program is designed to strengthen and streamline operations, while building the Generali Deutschland brand, said the company in a …

from News – Insurance Journal

SCC Names White as New Virginia Commissioner of Insurance

The State Corporation Commission (SCC) in Virginia has appointed Scott A. White to serve as Virginia’s 14th Commissioner of Insurance in the 111-year history of the SCC’s regulation of the insurance industry. White assumes the post on Jan. 1, 2018, …

from News – Insurance Journal

Boston Insurance Brokerage Opens Virginia Office, Promotes Driscoll

Boston Insurance Brokerage (BIB), a Boston, Mass.-based provider of commercial and high value personal insurance solutions, has announced the firm’s sales and support expansion by opening a regional office in Richmond, Va. Opening an office in Virginia will allow BIB …

from News – Insurance Journal

Beazley to Manage Data Breaches for Generali Brazil’s Cyber Insurance Clients

Beazley, a specialist in data breach response insurance, has partnered with Generali Brazil to manage data breaches for Generali’s corporate and commercial cyber insurance customers. Beazley will coordinate the breach response for policyholders, including IT experts, legal services, identity monitoring, …

from News – Insurance Journal

‘Curious Sinking’: Lawyers Blast Vermont Man Whose Mom Lost at Sea

Insurance company lawyers on Monday blasted a Vermont man whose mother was lost at sea, saying he made suspicious alterations to his boat before what they called its “most curious sinking.” Lawyers for Nathan Carman’s insurance company said in documents …

from News – Insurance Journal

Massachusetts’ XS Brokers Hires Buccinna to New York Office

XS Brokers, a Quincy, Mass.-headquartered independent insurance brokerage, has hired Peter Buccinna to head a new local office for the firm in East Chatham, N.Y. The hiring of Buccinna as assistant vice president and business development manager is a result …

from News – Insurance Journal

Climate Researchers Warn of Hotter Summers, More Wildfires, in Southern Europe

Climate researchers are warning that Europeans should prepare for the return of “Lucifer,” saying the hellishly named heat wave that hit parts of the continent this summer could become a regular occurrence due to man-made climate change. Hotter-than-usual temperatures in …

from News – Insurance Journal

Economic Costs of Mexico’s Earthquake Could Surpass $2B

President Enrique Pena Nieto said Wednesday [Sept. 27] that preliminary accounting of the damage caused by the two big earthquakes that hit Mexico this month could cost upward of $2 billion (38.1 billion pesos). Pena Nieto stressed that damage assessments …

from News – Insurance Journal

RMS Estimates Hurricane Maria’s Insured Losses Will Range Between $15B and $30B

RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated with wind, storm surge and inland flood damage …

from News – Insurance Journal

1987 Whittier Narrows Earthquake Anniversary A Reminder to Californians

The 30th anniversary of the 1987 magnitude 5.9 Whittier Narrows earthquake is Sunday, and the head of the California Earthquake Authority is using that to remind Californians to buy earthquake insurance. The quake was reported to have caused $358 million …

from News – Insurance Journal

Chubb Enters Bancassurance Distribution Agreement with Singapore’s DBS Bank

Chubb Ltd. announced it has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an exclusive or preferred basis through …

from News – Insurance Journal

Lockton Benefit Group Adds Buck Chief Medical Officer in Dallas

Dr. Shealynn Buck, an expert in employee wellbeing and improving health outcomes, has joined Lockton Benefit Group in Dallas as chief medical officer. Buck will advise employers on health strategies that improve employee wellbeing, reduce costs and improve productivity. Dr. …

from News – Insurance Journal

Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes

Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its 2017 earnings by about …

from News – Insurance Journal

A.M. Best Assigns A- Rating to Oklahoma’s Trisura Specialty Insurance

A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Trisura Specialty Insurance Co. (Trisura Specialty), based in Oklahoma City. The ratings outlook is stable. Trisura Specialty is a newly …

from News – Insurance Journal

Study Says Climate Change Could Lead to Rougher Roads

Expect some rough roads ahead. Literally, if a new study is any indication of how U.S. roads as they are currently being built might fare in a warmer world. A study by professors at Arizona State University shows that global …

from News – Insurance Journal

House Passes Bill to Assure Private Policies Satisfy Flood Insurance Requirement

The House of Representatives voted 264-155 today to pass bipartisan legislation that encourages the sale of private flood insurance in place of policies from the federal government in high risk areas where flood insurance is required. The bill would give …

from News – Insurance Journal

Firefighters Douse Hot Spots in California Blaze

Fire crews with support from a fleet of aircraft have continued to douse hot spots of a wildfire that burned up to canyon homes in Southern California. Orange County Fire Capt. Steve Concialdi says there are no more open flames …

from News – Insurance Journal

Chicago-based Clearcover Raises $11.5M to Launch Auto Insurtech Model

Chicago, Ill.-based Clearcover announced an initial funding round of $11.5 million led by Lightbank. Greycroft Partners, 500 Startups, Silicon Valley Bank, and other insurance and fintech investors also participated in the financing. Clearcover will use the funding to scale up …

from News – Insurance Journal

San Francisco Becomes the First City to Sue in Equifax Breach

San Francisco has filed a lawsuit against Equifax, becoming the first city in the country to sue the credit reporting company over a massive data breach that exposed the personal information of about 143 million Americans. The city’s lawsuit in …

from News – Insurance Journal

USI Insurance Services Acquires Pennsylvania’s David M. Banet & Associates

USI Insurance Services (USI) has acquired David M. Banet & Associates Inc. (Banet), an Exton, Penn.-based leader in benefits consulting and administration, human capital management and insurance brokerage and consulting services. Banet will combine with Emerson Reid, USI’s employee benefits …

from News – Insurance Journal

SEFCU Insurance to Transfer Commercial Practice to New York’s Rose & Kiernan

SEFCU Insurance Agency, a wholly owned subsidiary of SEFCU with offices in Schenectady, Cobleskill, Cooperstown, and Schoharie, N.Y., will transfer its commercial property and casualty and benefits practices to Rose & Kiernan Inc., an insurance brokerage firm headquartered in East …

from News – Insurance Journal

Alliant’s Boston Office Hires Bean as Senior Vice President

The Boston office of Alliant has hired Phil Bean as senior vice president within the company’s Alliant America’s division. In this role, Bean will provide targeted risk management and insurance solutions to clients throughout the Northeast as Alliant continues to …

from News – Insurance Journal

Key Committee Senators Reach Deal on Autonomous Vehicle Bill

Two U.S. senators said late on Wednesday that they had reached a bipartisan deal on legislation aimed at easing hurdles to getting self-driving cars to drivers. U.S. Senator John Thune, a Republican who chairs the Commerce Committee, and Senator Gary …

from News – Insurance Journal

Kmart Accused of Copyright Infringement Over Halloween Banana Costume

Kmart Corp. has been sued by a New Jersey company that accused the retailer of ripping off its full-body banana costume design for its “Totally Ghoul” banana men’s Halloween costumes. Rasta Imposta is seeking unspecified damages from Kmart and its …

from News – Insurance Journal

Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion

Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details will likely be known when …

from News – Insurance Journal

Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma

Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural catastrophes have been low in recent years, including in …

from News – Insurance Journal

Despite Rise in Catastrophe Losses, Home Insurance Loss Costs Decline

In 2016, Colorado and Texas homeowners suffered the greatest percentage of catastrophic losses due to extreme weather and other perils, according to a study of home insurance trends. The six-year LexisNexis Risk Solutions study indicates that despite the rise of …

from News – Insurance Journal

PERILS Raises Insured Loss Estimate for Cyclone Debbie to A$1.7B (US$1.34B)

The property insurance market’s loss for tropical cyclone Debbie has risen to A$1.7 billion (US$1.34 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This is the and third loss estimate PERILS has issued for …

from News – Insurance Journal

Top Challenges for London Mkt Re/Insurers Are Soft Market, Brexit, Regulations: IUA

The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire, members also cited the IT/cyber revolution, the challenge of innovating …

from News – Insurance Journal

Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B

Lloyd’s of London, the insurance and reinsurance market, announced a profit of £1.22 billion (US$1.58 billion) during the first half, which is a 16 percent drop from £1.46 billion ($1.96 billion) reported for the same period in 2016. Lloyd’s also …

from News – Insurance Journal

Global Reinsurers to Bear ‘Significant Share’ of Hurricane Maria Claims: A.M. Best

Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance of most …

from News – Insurance Journal

Berkshire Hathaway’s Gen Re Plans to Expand in Indian Market

General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world’s fastest-growing reinsurance market. The unit plans to expand in health and …

from News – Insurance Journal

EU Regulator Warns UK Insurers to Avoid ‘Fronting’ in Post-Brexit EU HQs

London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc’s insurance watchdog said. Insurance specialists say some insurers have been shopping around for jurisdictions which …

from News – Insurance Journal

Texas Homeowners Say They Weren’t Warned about Flooding Risks

More than 20 years before Hurricane Harvey, officials in suburban Houston were aware that a heavy storm could cause a reservoir to overflow and inundate nearby homes with water. So they issued a warning to potential home buyers. But they …

from News – Insurance Journal

Directors for Hawaii Workers’ Comp Insurer HEMIC Declare $3.5M Dividend

The board of directors of Hawaii Employers’ Mutual Insurance Company Inc. has declared a $3.5 million dividend payable to qualifying policyholders. This is $500,000 dollars more than HEMIC’s dividend last year, and is the 11th consecutive year that the HEMIC …

from News – Insurance Journal

Texas Regulators Seek Data on Insurers’ Hurricane Harvey Claims

The Texas Department of Insurance has issued a mandatory data call to both admitted and surplus lines insurance carriers seeking information about Hurricane Harvey-related claims in 62 counties impacted by the storm. The data call is designed to provide TDI …

from News – Insurance Journal

Mandatory Driver Safety Discounts for Mature Drivers

If you are 55 or older, chances are good you can get a discount on your auto insurance, and learn a thing or two in the process. Even if you have not been told you must take a senior driving course to keep or reinstate your driver’s license,...

from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles

Nearly 17K Flood Claims Filed So Far in Florida From Irma

Nearly 17,000 flood insurance claims connected with Hurricane Irma have been filed, and more are expected in the coming weeks. The Sun-Sentinel reports that of 16,786 flood claims filed through Thursday, 3,969 were filed in Monroe County. FEMA data shows …

from News – Insurance Journal

Michigan Bill Would Cut Auto Premiums by 20%

Michigan drivers would no longer be required to buy unlimited medical insurance to cover serious crash injuries under bipartisan legislation high-ranking supporters proposed Tuesday aimed at reducing the country’s highest auto premiums by at least 20 percent. The bill backed …

from News – Insurance Journal

Police Say Drunk Driver Caused Power Outages at Schools in Georgia County

Power was knocked out to two college campuses and a high school in DeKalb County when a mini-van flipped and hit a utility pole. WSB-TV reports that the Monday morning crash happened in front of Georgia Piedmont Technical College. Police …

from News – Insurance Journal

Texas Sets Annual Workers’ Compensation Weekly Benefit Wage

The workers’ compensation state average weekly wage for dates of injury from Oct. 1, 2017, through Sept. 30, 2018, is set at $913.37, the Texas Division of Workers’ Compensation announced. The maximum weekly benefit rates for workers’ compensation income benefits …

from News – Insurance Journal

Louisiana Cities Experienced Economic Ups and Downs in 2016

Louisiana’s eight metropolitan areas included two of the nation’s fastest growing economies and two of its fastest shrinking ones in 2016. Lake Charles’ economy grew 8.1 percent, the fastest in the nation according to numbers released in September by the …

from News – Insurance Journal

Saudi Decision to End Women’s Driving Ban Boosts Auto Insurers’ Shares

Saudi Arabia’s decision to end a driving ban for women is likely to save families billions of dollars, boost industries from car sales to insurance, and reassure investors that the kingdom’s push to diversify its economy beyond oil is on …

from News – Insurance Journal

$1.3M From Archdiocese in Washington to Settle Sex Abuse Case

The Seattle Archdiocese in Washington has paid $1.3 million to settle a sex-abuse lawsuit involving a former member of a religious order who taught in its schools. A man sued the archdiocese in 2015, alleging the church knew Edward Courtney …

from News – Insurance Journal

Las Vegas Pot Testing Lab’s License Suspended by State

Officials confirmed a Las Vegas marijuana testing laboratory has been suspended. The Las Vegas Review-Journal reported that Department of Taxation spokeswoman Stephanie Klapstein says the department on Aug. 24 suspended the license of G3 Labs LLC. Klapstein says the Nevada …

from News – Insurance Journal

California Bought by Californians Could Bear Cancer Warning Labels

A future cup of coffee in California could give you jitters before you even take a sip. A nonprofit group wants coffee manufacturers, distributors and retailers to post ominous warnings about a cancer-causing chemical stewing in every brew and has …

from News – Insurance Journal

Firefighters Save Numerous Homes From Southern California Canyon Blaze

Firefighters working in steep canyons on Tuesday got help from retardant-dropping aircraft flying around-the-clock as they saved homes from a smoky blaze that surged through suburban canyons in Southern California and sent hundreds scrambling for safety. One structure burned, but …

from News – Insurance Journal

Alera Group Acquires Pennsylvania’s West Park Insurance and Risk Management

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired West Park Insurance and Risk Management of Allentown, Penn. Formed in 2002, West Park Insurance and Risk Management provides clients with business, medical …

from News – Insurance Journal

NYWCA Launches Campaign to Stop Cuts to Injured Worker Benefits

The New York Workers’ Compensation Alliance (NYWCA) has launched a broad-based campaign to fight proposed Workers’ Compensation Board (WCB) regulations and impairment guidelines that it says would drastically cut compensation awards for injured workers. In the New York State budget …

from News – Insurance Journal

Workers’ Compensation Insurers Report Slow Growth: A.M. Best

The workers’ compensation industry reported a record high $58.5 billion in direct premiums written in 2016 but year-after-year growth slowed for the first time in five years. According to an A.M. Best report, the deceleration in growth was due largely …

from News – Insurance Journal

Startupbootcamp Launches InsurTech Accelerator in Hartford

Startupbootcamp, a London-based insurance accelerator that focuses on identifying globally-located disruptive and collaborative insurance and technology innovations, has announced the launch of its new InsurTech Accelerator in Hartford, Conn., designed specifically to rapidly scale insurance-focused technology startups. The InsurTech Accelerator, …

from News – Insurance Journal

Hartford’s Rating Sinks Deeper Into Junk; Agencies Cite Possible Default

Hartford, Connecticut’s cash-strapped capital city, suffered a fresh round of credit rating downgrades deeper into junk territory by two Wall Street credit agencies on Tuesday, a day after the city’s bond insurers said they were open to debt restructuring. The …

from News – Insurance Journal

Allianz Partners with Cyence to Expand Capabilities in Cyber Risk Analysis

Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has teamed up with San Mateo, Calif.-based cyber risk analytics and modeling firm Cyence to boost its global cyber risk analysis capabilities. Cyence’s cyber analytics …

from News – Insurance Journal

Japan Court Rules Utility, not Government, Liable for Fukushima Disaster

A Japanese court ruled Friday [Sept. 22] that a utility, not the government, should pay compensation to dozens of former residents of Fukushima for losses to their livelihood caused by reactor meltdowns at a nuclear plant after a massive earthquake …

from News – Insurance Journal

China’s Former Insurance Regulator Faces Criminal Charges

China’s top anti-corruption agency says the country’s former insurance regulator has been expelled from the ruling Communist Party and turned over to prosecutors to face criminal charges. A weekend statement by the Central Commission for Discipline Inspection says Xiang Junbo …

from News – Insurance Journal

Mexico Calculates Economic Cost of Quake; Insurance Covers Small Part of Losses

Mexican government officials are still tallying up the economic losses of the magnitude 7.1 earthquake that caused widespread damage in the capital, but for the manager of a downtown restaurant it is already all too clear. Sitting in the entrance …

from News – Insurance Journal

Mounting Catastrophe Claims Could Weaken Re/Insurers’ Capital Reserves: Fitch

Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc. said in a report on Tuesday. …

from News – Insurance Journal

Dubai Stages First Public Test of Drone Taxi Service with Electric Volocopter

Talk about rising above the masses. Dubai staged the first public test of its drone taxi service on Monday, offering a peek at what it might—or will—be like to commute by flying car. The self-piloting, electric Volocopter is less noisy …

from News – Insurance Journal

Senate GOP Gives Up on Latest Bid to Replace Obamacare

Senate Republicans gave up on their last-ditch bid to repeal Obamacare Tuesday as opposition in their own ranks ended months of fruitless efforts to deliver on a seven-year promise, and leaders said they would turn instead to overhauling the U.S. …

from News – Insurance Journal

Chicago Container Manufacturer Faces $503K in OSHA Penalties

A Chicago manufacturer of rigid metal, plastic, and hybrid containers faces $503,380 in proposed penalties after inspectors from the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) responded to four separate reports of workers suffering injuries at the …

from News – Insurance Journal

State Auto Labs Launches $25 Million Innovation Venture Fund

State Auto Labs Corp., the innovation arm of Columbus, Ohio-based State Automobile Mutual Insurance Co., has launched a $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry. State Auto Labs said it is collaborating with …

from News – Insurance Journal

NAMIC Names Illinois’ Sen. Haine a State Legislator of the Year for 2017

The National Association of Mutual Insurance Companies has named Illinois state Sen. Bill Haine as one of two State Legislators of the Year for 2017. Arkansas state Sen. Jason Rapert also was honored with the award. Haine is the assistant …

from News – Insurance Journal

Arkansas’ Sen. Rapert Named a NAMIC State Legislator of the Year for 2017

The National Association of Mutual Insurance Companies has named Arkansas state Sen. Jason Rapert as one of two State Legislators of the Year for 2017. Illinois state Sen. Bill Haine also was honored with the award. Rapert currently serves as …

from News – Insurance Journal

Answer Financial Adds Rideshare Gap Coverage in 24 States

Answer Financial, a national auto and home insurance agency., has added rideshare gap coverage plans to its offerings on its insurance comparison shopping platform. Rideshare drivers can now compare specialized coverage plans from insurers like Safeco, Progressive and Mercury. Peter …

from News – Insurance Journal

Despite Low Unemployment Rates, Many Oklahoma Residents Without a Job

Many Oklahoma residents are out of the workforce despite the state’s low unemployment rates. The Tulsa World reports that about 25 percent of state residents between ages 25 and 54 don’t have a job. Shelley Cadamy is the executive director …

from News – Insurance Journal

FEMA Statement on Texas Toxic Sites Clarified by EPA

The Environmental Protection Agency said on Sept. 24 it has recovered 517 containers filled with unidentified, potentially hazardous material found floating in or washed up along Texas waterways after the devastating floods from Hurricane Harvey receded. The agency’s statement sought …

from News – Insurance Journal

Evacuations Ordered on North Carolina Outer Banks for Hurricane Maria

An evacuation was underway Tuesday on an island on North Carolina’s Outer Banks as Hurricane Maria moved north. The Hyde County Sheriff’s office said the evacuation began at 5 a.m. Monday on Ocracoke Island. It wasn’t immediately clear how many …

from News – Insurance Journal

UK SMEs Face BI Coverage Gaps After Terrorist Events: Pool Re Report

Many terrorism insurance policies are triggered when there is physical damage to a property. As a result, commercial insurance buyers may find that they are unprotected against business interruption losses if there is minimal or no damage to their properties …

from News – Insurance Journal

Ironshore’s New Iron-Excess MGA Is Based on Iron-Starr Excess Agency Model

Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of the Iron-Starr Excess underwriting agency business …

from News – Insurance Journal

Fire in Utah City Isn’t Expected to Dive up Insurance Rates

Insurance rates aren’t expected to go up in Ogden neighborhood where a wildfire destroyed three homes and caused the evacuations of hundreds. But authorities are warning the residents to be on high alert for landslides because the land is now …

from News – Insurance Journal

Damage From Rare Utah Tornado Still Being Felt a Year Later

Damage from a rare tornado that ripped through a Utah county a year ago still lingers in the homes and minds of people who live in its path. The twister gutted 12 homes and damaged dozens more in Weber County, …

from News – Insurance Journal

California Worker’s Family Gets $1.8M Settlement

The family of a California man who was killed when a bridge he was working on collapsed has received a $1.8 million settlement. The Press-Enterprise reported an investigation by the California Division of Occupational Safety and Health found fault with …

from News – Insurance Journal

S&P Says Latest Republican Health Plan’s Flexibility for States Comes at Cost to Economy

A report by Standard & Poor’s Global Ratings said on Monday that the Senate Republicans’ latest proposed healthcare bill designed to replace Obamacare would lead to less federal funding and more flexibility for states but would cost the economy and …

from News – Insurance Journal

Ex-Water Corporation Boss in New Jersey Gets 8 Years for $1M Fraud

The former head of a not-for-profit corporation formed to oversee the water services for Newark, N.J., was sentenced on Friday to more than eight years in prison for accepting nearly $1 million in kickbacks. Linda Watkins Brashear pleaded guilty in …

from News – Insurance Journal

Maine’s The MEMIC Group Appoints Payne as Senior Vice President of External Affairs

Workers’ compensation specialist The MEMIC Group, based in Portland, Maine, has appointed Anthony Payne to senior vice president of external affairs. In this role, Payne will oversee corporate communications and marketing, advertising, public relations, community relations, as well as legislative …

from News – Insurance Journal

Assured Guaranty to Offer Hartford Refinancing Plan to Avoid Bankruptcy

Securities insurer Assured Guaranty Ltd. said on Monday it would grant Hartford, the capital of Connecticut, a municipal bond that offers financial support, a move that could help the city avoid filing for bankruptcy. Hartford would likely seek to file …

from News – Insurance Journal

Massachusetts’ AG Healey Announces Data Breach Bill Following Equifax Hack

After bringing the nation’s first enforcement action against Equifax for its failure to protect the personal information of nearly three million Massachusetts residents, Attorney General Maura Healey announced updated legislation that will better protect consumers from data breaches. The new …

from News – Insurance Journal

Uber CEO Apologizes to Londoners for Taxi App’s Mistakes

Uber’s new boss Dara Khosrowshahi apologized to Londoners for the taxi app’s mistakes and pledged to make changes as the Silicon Valley firm tries to overturn a decision to strip it of its license in one of its major markets. …

from News – Insurance Journal

SEC Hackers Took Advantage of Firms Using Authentic Data for Testing: Reuters Exclusive

Hackers breached the U.S. Securities and Exchange Commission’s computer system last year by taking advantage of companies that used authentic financial data when they were testing the agency’s corporate filing system, according to sources familiar with the matter. The Federal …

from News – Insurance Journal

Pioneer Underwriters & Lloyd’s MGA Asta Get Initial Nod to Set Up Lloyd’s Syndicate

Pioneer Underwriters and Asta, the third party managing agent at Lloyd’s, announced they have received “in principle” approval from Lloyd’s to establish a syndicate. Pioneer commenced underwriting in 2011 and has built a hybrid underwriting operation in the Lloyd’s market, …

from News – Insurance Journal

Insured Losses in Caribbean from Hurricane Maria Estimated at $40B-$85B: AIR

Industry insured losses for Hurricane Maria in the Caribbean will be between US$40 billion and US$85 billion, according to catastrophe modeling firm AIR Worldwide. Puerto Rico alone accounts for more than 85 percent of the loss, said Boston-based AIR, which …

from News – Insurance Journal

Lloyd’s Appoints SCOR’s Mitchell-Wallace as Head of Risk Aggregation

Lloyd’s, the specialist insurance and reinsurance market, announced Dr. Kirsten Mitchell-Wallace has been appointed as the head of Risk Aggregation. The role reports to Jon Hancock, the director of Performance Management, and is responsible for leading the strategy and day …

from News – Insurance Journal

AXIS Capital to Complete Acquisition of Novae Group in October

AXIS Capital Holdings Ltd. said it will complete its acquisition of London-based Novae Group plc in two phases, beginning with the acquisition of Novae shares, which is expected on Oct. 2, 2017. This will be followed by management control and …

from News – Insurance Journal

Third ‘No’ Appears to Kill Latest Senate GOP Bid to Repeal Obamacare

Senator Susan Collins punctured any remaining GOP hopes of repealing Obamacare anytime soon, dealing a fatal blow by rejecting a last-gasp Republican health care bill. The Maine Republican became the third GOP senator to oppose the measure, issuing a blistering …

from News – Insurance Journal

As Puerto Rico Struggles to Recover from Maria, Burst Dam Brings More Suffering

In San Juan, it was as if Hurricane Maria left everyone to fend for themselves. Two days after Maria hit, electricity and mobile phone service was nonexistent in the capital and across most of Puerto Rico, which was already buckling …

from News – Insurance Journal

RIC Names Reese as Business Development Manager in Southern California

RIC Insurance General Agency has named Jason Reese a business development manager. Reese will work with retail insurance brokers and agents in San Diego and Orange County. Reese was a business development manager at Method Insurance Services Inc., specializing in …

from News – Insurance Journal

MJ Insurance Adds Glissmeyer in Arizona

MJ Insurance has named Melissa Glissmeyer a risk management consultant in the Phoenix, Ariz. office. Glissmeyer will be part of the commercial insurance and risk management department and be responsible for driving sales and service. Glissmeyer previously was a fire …

from News – Insurance Journal

MarketScout in Dallas Creates $25M InsurTech Venture Fund

Dallas-based insurance exchange and MGA MarketScout announced it has launched MarketScout InsurTech (MIT), which will make investments in tech-enabled insurance distribution. The initial funding comes exclusively from MarketScout Corp., parent of MIT. In the company’s announcement, MarketScout Founder and CEO …

from News – Insurance Journal

Deloitte Targeted by Hackers Accessing Data From Internal Email Platform

Following record results that flagged the growth of its cyber security business, Deloitte LLP has revealed that it has been successfully targeted by a cyber attack that let hackers access data from an internal email platform. The auditing and consulting …

from News – Insurance Journal

Mechura Joins Brady, Chapman, Holland & Associates’ Employee Benefits Team

Texas-based independent insurance agency Brady, Chapman, Holland & Associates Inc. has hired Julie Mechura as employee benefits risk advisor in Houston. She will focus on sustaining and developing client relationships, while functioning as the client’s risk advisor. Mechura has more …

from News – Insurance Journal

NFL Football-Maker Wilson Fined $65K for Safety Violations at Ohio Factory

An Ohio factory that makes footballs for the National Football League has been fined by federal regulators over workplace safety violations. Wilson Sporting Goods is facing more than $65,000 in fines after two inspections at its factory in Ada, which …

from News – Insurance Journal

Montana Will Take Over Deadly Asbestos Cleanup Site

The cleanup of a northwest Montana community where health professionals say hundreds of people have been killed by asbestos exposure has entered a new phase as officials turn their focus to keeping residents safe over the long term. The five-member …

from News – Insurance Journal

Final Lawsuit Settled in Deadly San Francisco Plane Crash

A California dentist who was aboard an Asiana Airlines plane that crashed in San Francisco four years ago, killing three girls and injuring roughly 200 others, has reached a settlement with the airline, ending what her attorney said was the …

from News – Insurance Journal

2 Wildfires In Northern California Destroy or Damage Multiple Homes

Authorities say multiple homes and other structures have been destroyed or damaged in two wildfires that broke out over the weekend in Northern California. Fire officials in Auburn northeast of Sacramento said flames that erupted Saturday afternoon damaged several structures. …

from News – Insurance Journal

Chubb’s Launches Business Pack Insurance for Australian SMEs

Chubb has launched a package insurance solution called Chubb Business Pack Insurance for small and medium enterprises in Australia. This solution aims to provide broad coverage for property and liability exposures to help protect business owners from a range of …

from News – Insurance Journal

Two of the Oldest Statewide Insurance Trade Groups in U.S. Launch New Brands

The Independent Insurance Agents & Brokers of New Jersey (IIABNJ) and The Independent Insurance Agents & Brokers of New York (IIABNY) launched new brands today for their respective associations. IIABNJ became Big I New Jersey and IIABNY is now also …

from News – Insurance Journal

RMS Names Dailey to Lead U.S. Inland Flood Model in California

RMS has named Pete Dailey vice president to lead flood model development in its California headquarters. Dailey will oversee the upcoming release of the RMS U.S. Inland Flood Mode, and he will lead the development of modeling tools. Dailey, an …

from News – Insurance Journal

CNA Names Dasher Underwriting VP for Small Business

Commercial lines insurer CNA has announced the appointment of Greg Dasher to vice president of underwriting for its Small Business segment. Dasher will be responsible for the small business segment’s strategic and operational underwriting objectives. Dasher is based in Chicago …

from News – Insurance Journal

AIG Restructures Again; Commercial Lines CEO Schimek to Leave

American International Group is reorganizing its underwriting businesses into three main segments—General Insurance, Life & Retirement, and a standalone technology-enabled platform—the company announced today. The company will no longer have Commercial and Consumer segments. Instead, General Insurance and Life & …

from News – Insurance Journal

Senate GOP Appears Short of Votes to Pass Graham-Cassidy Health Care Bill

Senators sponsoring a last-ditch Obamacare repeal bill raced to save it from near-certain death Sunday, circulating a new version aimed at winning over several GOP holdouts. Some of the changes, which come as Republicans face a Sept. 30 deadline to …

from News – Insurance Journal

Note to Texas, Florida: Insurance Fights Over Sandy Rage On

The destructive floodwaters of Superstorm Sandy receded quickly, but some storm victims are still neck-deep in a battle over insurance payouts. And many victims of this year’s storms in Texas, Florida and elsewhere should brace themselves for a similar fight, …

from News – Insurance Journal

S&P Assigns Odyssey Re Europe with ‘A-‘ Rating, Stable Outlook

S&P Global Ratings has assigned its ‘A-‘ long-term financial strength rating to Odyssey Re Europe S.A. (ORESA), with a stable outlook. The rating on ORESA is based on an explicit guarantee provided by Odyssey Reinsurance Co., which has an ‘A-‘ …

from News – Insurance Journal

Two Workers Die in Separate New York Building Construction Site Falls

Two construction workers, one of them a father of five children, fell to their deaths at separate building sites on Thursday. The first death occurred in the morning at a residential high-rise construction site in the financial district. Juan Chohillo …

from News – Insurance Journal

Woman Dies in New Jersey After Getting Caught in Jose-Spawned Rip Current

Authorities say a New York woman who was pulled unconscious from rough waters at a New Jersey shore beach this week has died. Asbury Park police say 42-year-old Erin Higgins, of Harriman, and 54-year-old Ronald Renshtie, of Wallkill, New York, …

from News – Insurance Journal

Lloyd’s Broker AFL Creates Energy Practice Led by Quick & Pearce from Tysers

AFL Insurance Brokers Ltd. (AFL) has created an energy practice headed by London market broking professionals Dominic Quick and Simon Pearce. AFL’s energy practice will serve both AFL’s clients and customers from other independent brokers connected to AFL through the …

from News – Insurance Journal

Japan Post’s Stock Sale Raises $11B, Although Demand Is Subdued

A government sale of Japan Post Holdings Co. stock raised $11 billion in the world’s second-biggest share sale this year, with the postal and financial giant’s attractive dividend yield helping drum up sufficient, albeit subdued, demand. The stock priced at …

from News – Insurance Journal

Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts

The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …

from News – Insurance Journal

Oversight Panel Makes No Changes in Systemic Risk Tags on Insurers

A panel of U.S. regulators decided after meeting on Friday to stick with its existing policy for stricter rules on a handful of large financial institutions it deems “systemically important.” The Financial Stability Oversight Council convened Friday to potentially remove …

from News – Insurance Journal

Legal Experts See Room for Deal in Equifax Data Breach Lawsuits

Equifax Inc. could get away with paying a mere $1 per person after failing to protect almost half of America’s credit data. While the 118-year-old credit-reporting firm has been hit with more than 100 consumer lawsuits over its massive security …

from News – Insurance Journal

Despite Indefensible Process, Senate Should Pass Graham-Cassidy Health Care Bill: Viewpoint

Before Obamacare, state governments were the chief regulators of health insurance. Obamacare put the federal government in that role. The latest Republican health-care bill, sponsored by Senators Lindsey Graham, Bill Cassidy and others, would partially reverse that shift in authority. …

from News – Insurance Journal

DUAL’s Construction Division in North Carolina Adds Mahar as Senior Underwriter

DUAL Commercial has hired John Mahar as a senior underwriter within its Construction Division. Mahar will be located in DUAL’s new office in Charlotte, NC. Mahar has more than 18 years of experience in the insurance industry with the majority …

from News – Insurance Journal

Federal Judge Tentatively Approves West Virginia Chemical Spill Settlement

A federal judge has tentatively approved a revised settlement to a class-action lawsuit over a West Virginia chemical spill that left up to 300,000 people without tap water for up to nine days. U.S. District Judge John Copenhaver on Thursday …

from News – Insurance Journal

2nd Sinkhole Opens in Florida Neighborhood

A second sinkhole opened up in a Florida neighborhood about a half-mile (.8 kilometers) from where a home was partially swallowed by one earlier the same week. Orange County Fire Rescue spokeswoman Kathleen Kennedy says the sinkhole reported Thursday morning …

from News – Insurance Journal

Kentucky AG Hires 4 Law Firms To Investigate Opioid Industry

Kentucky’s Democratic attorney general says he has hired four law firms to investigate and potentially sue several makers and marketers of opioid-based painkillers that have spurred a wave addiction across Appalachia. But Republican Gov. Matt Bevin’s administration said Andy Beshear’s …

from News – Insurance Journal

Scott Issues Emergency Order to Florida Nursing Homes After 11 Patient Deaths

After 11 nursing home residents died in the sweltering heat of hurricane-induced power outages, Florida’s nursing home industry is now on a collision course with Gov. Rick Scott. Days after Hurricane Irma ravaged the state, Scott used his emergency powers …

from News – Insurance Journal

New Online Tool From Travelers Helps Contractors Spot Vibration Damage Potential

Travelers has introduced a new online tool, ZoneCheck, to help contractors identify areas surrounding a jobsite that could be affected by vibrations from heavy equipment – a common cause of construction-related damage and project delays. ZoneCheck delivers a customized report …

from News – Insurance Journal

EPA Won’t Say Which Texas Sites Toxic Waste Has Been Removed From After Harvey

The Environmental Protection Agency says it has recovered 517 containers of “unidentified, potentially hazardous material” from highly contaminated toxic waste sites in Texas that flooded last month during Hurricane Harvey. The agency has not provided details about which Superfund sites …

from News – Insurance Journal

Judge Tosses One Michigan ‘Halal Pepperoni’ Lawsuit Against Little Caesars

A judge dismissed a $100 million lawsuit against Little Caesars Pizza that alleged that pork was sold as “halal pepperoni” at a restaurant in a Detroit suburb that has a large Muslim population. Wayne County Circuit Court Judge Susan Hubbard …

from News – Insurance Journal

Chubb, Homeowners Settle High-Dollar Suit over Ohio Mansion Fire

A dispute over a multi-million-dollar insurance claim for a suburban Cincinnati mansion that burned down in 2014 has been settled weeks before a scheduled trial. A federal court filing says attorneys for Jeffrey and Maria Decker and their insurer informed …

from News – Insurance Journal

ISMIE Mutual Insurance to Offer Medical Liability Coverage in Michigan

ISMIE Mutual Insurance Co. and ISMIE Indemnity, based in Chicago, announced the companies are expanding service and product offerings in Michigan. Having operated in Michigan for many years, with a recent updated rate filing the companies will offer medical liability …

from News – Insurance Journal

Seeman Holtz Property & Casualty Acquires Austin’s RateGenius Insurance Agency

Seeman Holtz Property & Casualty Inc., based in Boca Raton, Florida, has acquired RateGenius Insurance Agency Inc., an affiliate of RateGenius, headquartered in Austin, Texas. Serving all of Texas for almost 10 years, RateGenius Insurance provides auto, home, boat and …

from News – Insurance Journal

Storm Watch Issued for North Carolina as Puerto Rico, Markets Weigh Maria’s Economic Costs

Storm watches have been issued for North Carolina as the U.S. is threatened by a hurricane for the fourth time in a month. Tropical storm watches, meaning winds of at least 39 miles (63 kilometers) per hour could reach the …

from News – Insurance Journal

How Home Values Track with High, Low Risk of Natural Hazards: ATTOM Data

Americans are still buying homes in areas with high risk of natural hazards and the homes in those cities continue to appreciate in value far faster than homes in low natural hazard locales. However, the effect of being a high …

from News – Insurance Journal

Ratings of Illinois’ Prime Insurance Company Upgraded

A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Prime Insurance Company (PIC) in Chicago, Ill. The outlook of these ratings has been revised …

from News – Insurance Journal

Ohio Increases Fines Against Pipeline Developer to $2.3M

Ohio’s environmental regulators have more than doubled the proposed fines against a company building a natural gas pipeline from West Virginia to Michigan, saying the two sides are at an impasse. The fines now stand at $2.3 million and stem …

from News – Insurance Journal

Jump in Energy Contract Lawsuits Expected in Harvey’s Wake

Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Hurricanes and other natural disasters …

from News – Insurance Journal

U.S. and EU Sign Covered Agreement on Insurance Regulation

The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the agreement, also known as a …

from News – Insurance Journal

Researchers: FEMA’s Houston Flood Maps Outdated Long Before Harvey

The Federal Emergency Management Agency’s flood plain maps for parts of southeastern Houston were woefully out-of-date long before Hurricane Harvey ravaged the Texas coast, a new study suggests. Researchers at Rice University and Texas A&M University at Galveston studied one …

from News – Insurance Journal

Minnesota Gov. Cranks Up Pressure on Feds to Protect Health Programs

Minnesota Gov. Mark Dayton blasted federal health officials on Sept. 20 for holding up approval of a program meant to lower health insurance costs and threatening millions of dollars in cuts to health care for the working poor. State lawmakers …

from News – Insurance Journal

Sullivan Appointed as Texas Insurance Commisioner

Texas has a new insurance commissioner. Texas Gov. Greg Abbott has named Kent Sullivan to serve as insurance commissioner and head of the Texas Department of Insurance. His term expires Feb. 1, 2019. The post has been vacant following the …

from News – Insurance Journal

SEC Hacking Latest in Series of Government Agency Cyber Breaches

A major computer hack at America’s top stock market regulator is the latest sign that data stored in the highest reaches of the U.S. government remains vulnerable to cyber attacks, despite efforts across multiple presidencies to limit high-profile breaches that …

from News – Insurance Journal

New Bridge Design Tested by Nevada Quake Lab Following Mexico Quake

Scientists at a Nevada earthquake lab this week tested new bridge designs with connectors they say are innovative and created to better withstand violent temblors and speed reconstruction efforts after major quake damage. University of Nevada, Reno engineers performed the …

from News – Insurance Journal

General Star Names 4 to New Primary Casualty Specialist Team

General Star Management Co. has crated a new Primary Casualty Specialist Team within the Casualty Brokerage Division. The new team will consist of Maria Manuli (Primary practice leader), Ed Felcyn, Michelle Yoshida and Brianna Gatto. Manuli is vice president and …

from News – Insurance Journal

California Workers’ Comp Division Suspends 6 Medical Providers for Fraud

The California Division of Workers’ Compensation has suspended six more medical providers from participating in the state’s workers’ comp system, bringing the total number of suspended providers to 38. The suspensions were made possible by the passage last year of …

from News – Insurance Journal

Heffernan Names Grootendorst Branch Manager in Oregon

Heffernan Insurance Brokers has promoted Brenda Grootendorst to branch manager of the firm’s Portland, Ore. Grootendorst, who is a senior vice president in the firm, has more than 30 years of insurance and risk management. Grootendorst was a principal shareholder …

from News – Insurance Journal

XL Catlin in Iberia Taps Marsh’s Herrero as Head of Political Risk, Credit & Bond

XL Catlin’s insurance operation in Iberia announced new local underwriting capabilities with the appointment of Santiago Herrero as head of Political Risk, Credit & Bond (PRCB) – Iberia. Herrero will be based in Madrid and reports to Dan Riordan, XL …

from News – Insurance Journal

London Decides to Strip Uber of Its License; Uber Will Appeal

London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world’s biggest cities. Regulator Transport for …

from News – Insurance Journal

Natural Disasters Begin to Hit Profits of Global Reinsurers

A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. …

from News – Insurance Journal

Official Says Bus in Deadly New York Crash Going Twice the Speed Limit

Federal safety investigators say a charter bus that blew through a red light in New York City and caused a horrific crash that killed three people was traveling at nearly double the posted speed limit. National Transportation Safety Board investigator …

from News – Insurance Journal

Lawyers Say Vermont Man Whose Kin Died is Withholding Information

Insurance company lawyers say a Vermont man suspected of killing his millionaire grandfather refuses to answer questions about the day his boat sank with his mother onboard. Nathan Carman’s boat sank last year. His mother is presumed dead. In a …

from News – Insurance Journal

U.S. Safety Board Says Train Crash Engineers Had Undiagnosed Sleep Disorder

The engineers in two New York City area commuter train crashes suffered from sleep apnea that had not been diagnosed, the U.S. National Transportation Safety Board said on Thursday. The NTSB released factual findings on Thursday regarding its investigations into …

from News – Insurance Journal

Russia National Reinsurance Co. to Expand into China, India, Middle East & Africa

Russian National Reinsurance Co. (RNRC) aims to expand into China, India, the Middle East and Africa to increase income from premiums and diversify beyond Russia, the chief executive said. State-owned RNRC was set up mainly to offer reinsurance to firms …

from News – Insurance Journal

MGA Agora Receives ‘in Principle’ Approval to Set Up Lloyd’s Syndicate

Asta, the leading third-party managing agent at Lloyd’s, announced it has received “in principle” approval from the Lloyd’s Franchise Board to establish and manage Agora Syndicate 3268. In 2015, Asta and leading marine insurance provider Skuld announced the launch of …

from News – Insurance Journal

Woodruff-Sawyer Names Kyle Vice President in Oregon

Woodruff-Sawyer & Co. has named Brandi Kyle vice president in employee benefits in the firm’s Portland, Ore. office.e Kyle has 15 years of insurance experience. She was previously with Wells Fargo Insurance as an employee benefits consultant. She was a …

from News – Insurance Journal

Employer Leadership in Disaster Recovery and the Power of Return-to-Work

Businesses and their leaders have a unique role to play in helping communities and individuals recover from the devastation of a storm like Hurricane Harvey, and they should not underestimate the power of getting employees back to work and re-establishing …

from News – Insurance Journal

Texans Helping Texans: Independent MGAs Join Forces for Targeted Harvey Relief

A group of independently owned Texas managing general agents (MGAs) have come together to provide targeted, direct, local relief to communities affected by Hurricane Harvey. Texas MGAs for Disaster Relief is working with local officials and emergency coordinators to identify …

from News – Insurance Journal

A.M. Best Upgrades Credit Rating for Columbia Lloyds Companies

A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Columbia Lloyds Insurance Co. and MDOW Insurance Co., which are collectively referred to as …

from News – Insurance Journal

Michigan’s Auto-Owners Insurance Named PIA National’s Company of the Year

The National Association of Professional Insurance Agents (PIA) has named Lansing, Mich.-based Auto-Owners Insurance Co. as recipient of its 2017 Company Award of Excellence. “Auto-Owners is highly deserving of this, our association’s highest company honor,” said PIA National President Gary …

from News – Insurance Journal

Minnesota City Settles Police Bias Case for $1M

The city of Rochester, Minnesota, will pay a police officer $1 million to settle a discrimination and retaliation claim. Lt. Elisa Umpierre filed the claim saying she was suspended for comments she made on Facebook in support of protesters at …

from News – Insurance Journal

Air Monitoring Company Joins Texas Chemical Plant Fire Negligence Lawsuit

Air monitoring company Bureau Veritas SA has been added to a negligence suit alleging first responders inhaled dangerous fumes during a fire at a chemical plant, lawyers for Texas police and emergency workers said. The suit, filed in Harris County …

from News – Insurance Journal

Company to Settle Missouri Butter Flavoring Case for $5M

A company has agreed to pay $5 million to settle claims that its butter flavoring chemicals harmed the lungs of a worker who handled the product at a Missouri plant. The St. Joseph News-Press reports that Carmi Flavor and Fragrance …

from News – Insurance Journal

SEC Discloses It Was Hacked, Now Fears Hackers Used Data for Illicit Trading

Wall Street’s top regulator faced questions on Thursday about its defenses against cyber criminals after admitting hackers breached its electronic database of corporate announcements and may have used it for insider trading. The incursion at the Securities and Exchange Commission …

from News – Insurance Journal

Oregon’s Cellphone And Distracted Driving Law Brings Bigger Fines, Jail

Oregon drivers soon can be pulled over for not only texting and talking on their cellphones, but also for navigating, using social media and any other “hands-on” cellphone and electronics use. The changes, which begin Oct. 1, call for repeat …

from News – Insurance Journal

Fire That Threatened 100 Homes in Nevada Began at Construction Site

Fire investigators say a blaze on the west edge of Reno, Nev. that threatened as many as 100 homes and destroyed two construction trailers started at a home construction site. Truckee Meadows Fire Chief Charlie Moore says the specific cause …

from News – Insurance Journal

Complaint from Whistleblower Targets California Utility Regulator

The former chief administrative law judge at California’s powerful utility regulator said this week she was fired for cooperating with investigators looking into collusion between regulators and executives from Pacific Gas & Electric. Karen Valentia Clopton announced that she’s filing …

from News – Insurance Journal

2 Northern California Cities Are Suing Big Oil Firms Over Climate Change

California cities San Francisco and Oakland filed separate lawsuits against five oil companies on Wednesday seeking billions of dollars to protect against rising sea levels they blamed on climate change, according to public documents. The lawsuits, filed in state courts …

from News – Insurance Journal

Liberty Specialty Markets Appoints Hobbs, Winkel, Short & Smith to Senior Roles

London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has announced the appointment of four senior roles (subject to regulatory approval). Phil Hobbs has been named deputy managing director. Hobbs previously was chief actuary. Dieter Winkel has been named …

from News – Insurance Journal

Insurance Industry Foundation Opens Charity Fund for Hurricane Irma Victims

The Insurance Industry Charitable Foundation (IICF), a nonprofit organization for insurance industry charitable giving, has launched a new disaster relief fund to assist the millions affected by the catastrophic damage of Hurricane Irma. IICF says the need for assistance is …

from News – Insurance Journal

Former New York Insurance Broker Sentenced to Prison for $1.8M Scheme

A former insurance broker in Long Island, N.Y., who pleaded guilty to grand larceny and fraud has been sentenced to serve three to nine years in prison. Suffolk County District Attorney Thomas Spota said Tuesday that 44-year-old Kimberly Graziano, of …

from News – Insurance Journal

Unlicensed Health Insurance Companies Targeting Delaware Seniors

Senior citizens are being warned to be on the lookout for unlicensed health insurance companies in Delaware. The companies have been marketing and selling plans to residents of long-term care and nursing home facilities in Delaware and other states, according …

from News – Insurance Journal

JLT Specialty USA Appoints Cornish as Director Based in New York City

JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), has announced the appointment of Keith Cornish as director based in New York City. The appointment is part of JLT’s continued investment into construction specialty, further supporting …

from News – Insurance Journal

Defamation Suit Over Rolling Stone Article Is Revived on Appeal

A defamation lawsuit suit against Rolling Stone magazine over its retracted 2014 article about an alleged gang rape at the University of Virginia was partially revived by a federal appeals court in New York. The lower-court judge was wrong to …

from News – Insurance Journal

Zurich North America CEO Foley Leaving; Savio Named Successor

Zurich North America CEO Mike Foley plans to leave his position at the end of 2017 after more than a decade with the Swiss insurance giant. His successor has already been chosen. She is Kathleen Savio, who has been president …

from News – Insurance Journal

East Coast Watching Effect of ‘Zombie’ Storm Jose on Maria’s Path

Hurricane Maria continued its thunderous roll northward as forecasters struggled to pin down a trajectory. Whether the storm makes landfall again could be determined by a zombie. That’s what former Hurricane Jose will soon be in the meteorological vernacular, a …

from News – Insurance Journal

In New Approach, Zenefits to Offer Benefits Software to Insurance Brokers

Zenefits, the software startup that has faced a number of regulatory penalties, said on Thursday it is changing its business to provide software to insurance brokers. This marks the latest attempt by Zenefits to regain its footing after it was …

from News – Insurance Journal

PartnerRe Forms Partnership with Fintech Money Transfer Specialist, RemitRadar

PartnerRe has entered into a strategic cooperation agreement with RemitRadar, a London-based money transfer specialist. PartnerRe and RemitRadar said they have formed this agreement “to capitalize on RemitRadar’s money transfer ecosystem, web presence and social media channels, including AI [artificial …

from News – Insurance Journal

Global Reinsurers Face Exposures to Mexico City Earthquake: Morgan Stanley

Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling of a number …

from News – Insurance Journal

Talanx Warns 2017 Profits Could Be Hit by Hannover Re’s Catastrophe Claims

German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer, Hannover Re, is being hit by major claims from a series of hurricanes and an earthquake in Mexico. Reinsurers face big losses from Hurricanes Harvey …

from News – Insurance Journal

AIA Buys Commonwealth Bank of Australia’s Life Insurance Business for A$3.8B

AIA Group Ltd. agreed to buy Commonwealth Bank of Australia’s life insurance business for A$3.8 billion (more than $3 billion), in its most ambitious foray beyond the Hong Kong-based company’s core markets in Asia. AIA will team up with Commonwealth …

from News – Insurance Journal

Unemployment Is Top Business Risk, Says WEF Survey, Published by Zurich, Marsh

Unemployment is the biggest risk for businesses globally, according to a World Economic Forum survey of business leaders published on Wednesday. The company executives put unemployment or underemployment as the top risk over the next 10 years, followed by fiscal …

from News – Insurance Journal

Hurricane Maria Carves Path of Destruction Through Puerto Rico

Hurricane Maria, the strongest storm to strike Puerto Rico in nearly 90 years, carved a path of destruction through the U.S. territory on Wednesday, causing widespread flooding and knocking power out across the island after killing at least nine people …

from News – Insurance Journal

XL Catlin Adds EPLI, Cyber Coverage for Design Professionals in Canada

XL Catlin has added two optional coverages to its professional liability insurance for architects, engineers and other design businesses in Canada: employment practices liability (EPL) Insurance and cyber insurance coverage. The optional EPL coverage is designed to help architects, engineers …

from News – Insurance Journal

Georgia Gov Pledges State Funds for Local Community Irma Cleanup

Describing Hurricane Irma as a “catastrophic event” after viewing its destruction from the air, Gov. Nathan Deal promised last week that the state will pay local governments’ share for cleaning up storm debris along the Georgia coast. Deal got a …

from News – Insurance Journal

After the Storm: Insurance Agents E&O Lessons Learned

Editor’s Note: This is a republication of a January, 2013 article by Sally Coombs, who was then with Fireman’s Fund Insurance Co, which is now integrated into Allianz Global Corporate & Specialty (AGCS). Also, Insurance Journal’s Academy of Insurance will …

from News – Insurance Journal

Landlord Settles Lawsuit Over Deadly Ohio House Fire for $360K

The owner of an Ohio home where a fire killed two adults and two girls is settling a lawsuit claiming she’s liable because the rental property lacked smoke detectors. Cleveland.com reports owner Joni Laidig and her insurer agreed to pay …

from News – Insurance Journal

Small Earthquake in Illinois Felt in 3 States

The U.S. Geological Survey reports that a small earthquake in southeastern Illinois was felt across parts of Illinois, Indiana and Kentucky. The USGS says the preliminary 3.8-magnitude earthquake occurred at 6:47 a.m. Central Time on Sept. 19 about 7 1/2 …

from News – Insurance Journal

FEMA Not Relying on Trailers to House Hurricane Victims

The hurricanes that battered Texas and Florida have likely spawned the worst disaster-created housing crisis since Hurricane Katrina left hundreds of thousands of Gulf Coast residents without homes more than a decade ago. The Federal Emergency Management Agency said it’s …

from News – Insurance Journal

Zebra Online Insurance Agency Gets $40M from Investors and New CEO from Kayak

The Zebra, an online auto insurance comparison marketplace, plans to use $40 million in new venture funding to double down on brand building, product expansion and customer outreach. Company co-founder and Chief Operating Officer Joshua Dziabiak told Carrier Management via …

from News – Insurance Journal

24 Indicted in Staged Crash Case in Vegas Involving $500K in Claims

Nevada’s top state prosecutor says 24 people have been indicted in a scheme alleging they staged car crashes and filed about $500,000 worth of fraudulent insurance claims in Las Vegas. Attorney General Adam Laxalt said the 68-count indictment filed last …

from News – Insurance Journal

Small Quake in Los Angeles Had Southern California’s Lighting up Twitter

A small earthquake with an epicenter just outside Los Angeles had people in Southern California talking on social media. The U.S. Geological Survey confirmed a magnitude-3.6 quake hit at about 11:20 Monday night. Its epicenter was about 3.6 miles northwest …

from News – Insurance Journal

A.M. Best Warns on Hurricane Maria Impact on Caribbean/Puerto Rican Insurers

Many insurers and reinsurers in the Caribbean and in Puerto Rico will be tested as they brace for Hurricane Maria, the second hurricane to hit the region in two weeks, according to ratings agency A.M. Best. Hurricane Maria could be …

from News – Insurance Journal

Agency E&O in a Disaster: How to Avoid Errors While Helping Insureds

Insurance Journal’s Academy of Insurance announced an exclusive online discussion called “After the Storm: Preventing Agent E&O Claims in a Disaster” to be held on Thursday, Sept. 21, 2017 at 1:30 p.m. Eastern. Insurance Journal’s Academy Director Patrick Wraight will …

from News – Insurance Journal

New York State Prepares Long Island for Hurricane Jose’s Impact

New York state officials have deployed members of the National Guard and specialized emergency response units to Long Island to prepare for potentially severe weather caused by Hurricane Jose. Gov. Andrew Cuomo says 100 members of the National Guard, 13 …

from News – Insurance Journal

Kansas Banker Sentenced to Prison for Defrauding Bank, Insurance Company

Prosecutors say a former Kansas banker has been sentenced to prison eight months in prison for a wire fraud scheme that included the theft of funds from a bank and an insurance company as well as filing false tax returns. …

from News – Insurance Journal

MarketScout Hires U.S. Risk’s Vincent as VP in Houston

MarketScout, the Dallas, Texas based insurance exchange and specialty MGA, has expanded its Professional Liability Division with the addition of Michele Vincent as vice president, healthcare practice leader. Vincent joins the professional liability practice with more than 20 years of …

from News – Insurance Journal

Former New Jersey Postal Worker Went Zip-Lining While on Disability

A former postal worker who had claimed a wrist injury prevented him from working posted photos of himself zip-lining and rappelling, state authorities said Monday as they announced insurance fraud and theft charges. Robert McGeehan, of Lower Township, N.J., is …

from News – Insurance Journal

2 New Insurers Approved to Do Business in Arkansas

Arkansas Insurance Commissioner Allen Kerr has approved two new companies to begin conducting insurance business in his state. Kerr granted a Certificate of Authority to Security First Insurance Co. (SFIC) of Ormond Beach, Fla., to sell property/casualty products in Arkansas …

from News – Insurance Journal

Papadopoulo to Succeed McElroy as CEO of Arch Worldwide Group; Rajeh Moves to CEO Worldwide Reinsurance

Arch Capital Group Ltd. announced that Nicolas Papadopoulo will become chairman and CEO of Arch Worldwide Insurance Group and chief underwriting pfficer for Property & Casualty operations. Papadopoulo, who joined Arch in 2001 and currently serves as chairman and CEO …

from News – Insurance Journal

IIABNY Appoints Lounsbury as Permanent President and CEO

The Independent Insurance Agents & Brokers of New York (IIABNY) has announced that Lisa K. Lounsbury has been appointed as the organization’s permanent president and chief executive officer. She has been acting on an interim basis in that role since …

from News – Insurance Journal

Company in Fatal Queens Bus Crash Has Been Cited for Safety

The tour bus company involved in a crash with a city bus that killed three in New York City has been cited for several safety violations and was involved last year in another deadly collision, according to federal regulators. The …

from News – Insurance Journal

XL Group Picks Dublin for Post-Brexit EU Headquarters

XL Group is the latest property/casualty insurer to make plans to move its European insurance company headquarters from the United Kingdom in response to its vote to leave the European Union. The insurer and reinsurer (parent company of XL Catlin) …

from News – Insurance Journal

Most Produce Farmers Hit by Recent Hurricanes Not Covered by Federal Crop Insurance

In the U.S, government-backed insurance plans help compensate farmers for losses after natural disasters. Unfortunately for the produce growers that were ravaged by recent hurricanes, a lot of the nation’s vegetable and fruit crops aren’t covered. Hurricanes Irma and Harvey, …

from News – Insurance Journal

Category 4 Hurricane Maria Barrels Into Puerto Rico

Hurricane Maria slammed into southeastern Puerto Rico as a Category 4 storm with the potential to inflict $30 billion in damages just two weeks after Irma ravaged the cash-strapped island. Top winds reached 155 miles (249 kilometers) per hour as …

from News – Insurance Journal

Search for Survivors Underway after Mexico Earthquake; Hundreds Killed

Mexican search and rescue teams worked through the night after an earthquake rocked one of the world’s largest urban centers, killing hundreds and reducing buildings to rubble. Military police, paramedics and volunteers, aided by giant flood lights, sifted through the …

from News – Insurance Journal

FedEx Goes Cyber Insurance Shopping After Profit Takes Hit from Attack

Package delivery company FedEx Corp. said on Tuesday a June cyber attack on its Dutch unit slashed $300 million from its quarterly profit, and the company lowered its full-year earnings forecast. The company said the cyber attack slashed 79 cents …

from News – Insurance Journal

EU Seeks More Control Over Insurers and Financial Sector

The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU’s grip on the industry as the bloc prepares for the departure of London, its main financial …

from News – Insurance Journal

California Commissioner Sums up Trump Battle, High on Cannabis Insurance

It’s David vs. Goliath. That about sums up California Insurance Commissioner Dave Jones’ feelings on his efforts to keep the remnants of Obamacare up and running in his state while President Trump does his best to repeal and replace it. …

from News – Insurance Journal

Travelers’ Cunningham Joins Liberty Mutual to Lead National Insurance Property

Liberty Mutual Insurance has appointed Gregg Cunningham as executive vice president, National Insurance, and general manager, National Insurance Property. Cunningham, who has 25 years of commercial insurance experience, leads the area of Liberty Mutual that provides property insurance, inland marine …

from News – Insurance Journal

Percent of Indiana Residents Without Health Insurance Declines

A U.S. Census Bureau report has found that Indiana had 373,000 fewer people without health insurance last year than three years earlier. The report released last week said about 8 percent of Indiana residents, or about 530,000 people, lacked medical …

from News – Insurance Journal

Workers’ Comp Rate to Decline in 2018; Debate On as to Why

The Iowa governor’s office and the organization that sets workers’ compensation rates are disputing over whether a new law influenced a recent rate reduction in premiums for employers. The National Council on Compensation Insurance announced an 8.7 average premium reduction …

from News – Insurance Journal

Ohio Insuretech, Bold Penguin, Appoints Metcalf as Chief Financial Officer

Bold Penguin, a Columbus, Ohio-based insurtech providing an online marketplace for commercial lines property and casualty (P/C) agents, has hired former Ohio Deputy Treasurer Seth Metcalf as the company’s chief financial officer (CFO). Most recently, Metcalf spearheaded several successful, award-wining …

from News – Insurance Journal

Rain And Snow Help Montana Wildfires But Won’t End Season

Rain snow and cold have replaced heat and smoke after about two dry months on Montana’s fire lines, leaving crews scrambling for extra sleeping bags, heaters, coats and long underwear. While the change in weather is welcome, it brings its …

from News – Insurance Journal

Advocates Rally Behind New Federal Bill to Fix New York’s Scaffold Law

The Lawsuit Reform Alliance of New York (LRANY) today will join the New York State Association for Affordable Housing (NYSAFAH), Habitat for Humanity, MWBE contractors and other construction and business organizations to applaud Rep. John Faso for introducing the Infrastructure …

from News – Insurance Journal

M5.1 Quake Rattles Alaska

A Magnitude 5.1 earthquake shook Alaska about 135 miles northwest of the state’s capital city Juneau, the Alaska Earthquake Center confirmed. Coincidentally, the City and Borough of Juneau’s Disaster Preparedness Expo was winding down as the earthquake hit Saturday afternoon. …

from News – Insurance Journal

Dietz, Gilmor & Chazen Makes 3 Partner Promotions in California

Dietz, Gilmor & Chazen has promoted Robert E. Robinson, Richard A. Lynn and Robert Lance to partners in the firm in California. All three newly promoted partners were previously with Dietz, Gilmor & Associates, before the firm became Dietz, Gilmor …

from News – Insurance Journal

The Hilb Group Acquires Massachusetts’ Mid-State Insurance Agency

The Hilb Group LLC (THG), a property and casualty insurance and employee benefits broker based in Richmond, Va., has announced the acquisition of Massachusetts-based Mid-State Insurance Agency Inc. (MSIA). The transaction became effective September 1, 2017. MSIA is THG’s 37th …

from News – Insurance Journal

New York’s Cuomo Proposes Regulation in Wake of Equifax Security Breach

In response to the recent cyberattack that exposed the personal private data of nearly 150 million consumers nationwide, New York Governor Andrew M. Cuomo has directed the New York Department of Financial Services (DFS) to issue new regulation making credit …

from News – Insurance Journal

What If an Irma-Like Hurricane Hit the New York City Metro Area?

It sounds like a Hollywood disaster movie. A Category 5 hurricane churning in the mid-Atlantic suddenly veers northwest – and heads straight for New York City. The good news is that, for now, experts agree a Cat 5-sized deluge appears …

from News – Insurance Journal

Financially-Strapped Puerto Rico Faces Hurricane Maria After $1 Billion Hit by Irma

Two weeks ago, Puerto Rico was spared a devastating hit when Hurricane Irma ripped up the Caribbean. This time, it may not be so lucky. The bankrupt island, already contending with the aftermath of a storm that left as much …

from News – Insurance Journal

Ed Names Jani Chief Executive for Middle East, North America, India

Ed, the global reinsurance, wholesale and specialty broker, has announced the appointment of Minesh Jani as chief executive of Middle East North America (MENA), India and Indian sub-continent. Jani brings two decades of reinsurance experience to Ed. He joins from …

from News – Insurance Journal

Autonomous Vehicle Regulation Highlights Federal vs. State Divide

As the U.S. Congress moves quickly to pass the first federal law governing self-driving cars, some state and city officials are pushing back over fears that the measure will limit their ability to regulate vehicle safety at the local level. …

from News – Insurance Journal

Qatar Insurance Closes UAE Branch as Diplomatic Crisis Continues

A Qatari insurance company is closing its branch in Abu Dhabi because authorities there have not renewed its license, a sign of how the region’s diplomatic crisis is starting to have long-term effects on its economy. Qatar’s stock index also …

from News – Insurance Journal

Insurers Hope Insurtech Will ‘Nudge’ Customers to Less Risky Behaviors

Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising to save …

from News – Insurance Journal

Expert’s Advice to Florida Agents: Report Claims That Fall Below Hurricane Deductible

With many agents currently assisting clients in determining if they have claims and the insurance claim filing process in the aftermath of Hurricane Irma, one most common question received by the Florida Association of Insurance Agents has been: Should you …

from News – Insurance Journal

4 West Virginians Get Prison For Roles in Staged Crashes

Federal authorities say a West Virginia man has been sentenced to almost three years in prison for a staged vehicle crash, faked injuries and false insurance claim for a $41,000 settlement. According to prosecutors, 34-year-old Michael Sine, of Fairmont, also …

from News – Insurance Journal

4 Hurricane Irma-Affected U.S. Attorney Offices Form Fraud Task Forces

The National Center for Disaster Fraud (NCDF) along with U.S. Attorneys’ Offices in the District of Puerto Rico, Southern District of Florida, Middle District of Florida and Northern District of Florida have formed task forces comprised of local, state and …

from News – Insurance Journal

Florida’s Insured Losses From Irma Reach Nearly $2B & Growing

Florida policyholders so far have filed nearly $2 billion in claims to insurers for damage from Hurricane Irma, the state’s insurance regulator said on Monday. The estimate of insured losses is based on preliminary statewide data that insurers filed with …

from News – Insurance Journal

Markel Enhances Professional Liability Coverage for Hard-to-Place Law Firms

Markel Corporation has enhanced its policy form and protections for hard-to-insure law firms which can no longer secure coverage in the admitted markets. This coverage is available on an excess and surplus (E&S) lines basis using a claims-made policy form. …

from News – Insurance Journal

Chinese Insurer ZhongAn Initiates $1.5 Billion Hong Kong IPO

ZhongAn Online P&C Insurance Co., China’s largest online insurer, started taking orders for a Hong Kong initial public offering that could raise as much as $1.5 billion. The Shanghai-based company is offering 199.3 million new shares at HK$53.70 to HK$59.70 …

from News – Insurance Journal

Category 5 Hurricane Maria on Course for Virgin Islands, Puerto Rico

The fourth major Atlantic hurricane of the year, Maria, strengthened into a rare Category 5 storm, as it churned through the eastern Caribbean, bearing down on the tiny island nation of Dominica while on a likely collision course with the …

from News – Insurance Journal

Sunderman Appointed President of Hotchkiss Insurance Programs

Hotchkiss Insurance Programs LLC, based in Dallas, has appointed Timothy Sunderman as president. He will assume operational responsibility and will report to Michael Hotchkiss, the company’s chief executive officer. Sunderman’s primary focus will be to preserve, optimize and grow Hotchkiss …

from News – Insurance Journal

Hub International Acquires Louisiana’s Benefit Advisory Group

Chicago-based insurance brokerage Hub International Limited (Hub), has acquired the assets of Benefit Advisory Group LLC (Benefits Advisory Group), with offices in New Orleans and Baton Rouge, La. Terms of the acquisition were not disclosed. Benefit Advisory Group specializes in …

from News – Insurance Journal

‘Future-Proofing’ Texas a Political, Bureaucratic Challenge for Harvey Recovery Czar

The man tasked with overseeing Texas’ Hurricane Harvey rebuilding efforts sees his job as “future-proofing” before the next disaster, but he isn’t empowered on his own to reshape flood-prone Houston or the state’s vulnerable coastline, which has been walloped by …

from News – Insurance Journal

Employers Expect Above-Average Rise in Cost of Employee Benefits in 2018: Mercer Survey

Employers expect that their average cost per-employee for health benefits will rise by 4.3 percent in 2018, which is above the average increase of 3 percent of the past five years. Early responses from Mercer’s National Survey of Employer-Sponsored Health …

from News – Insurance Journal

Iowa Judge: ‘Shadow Insurance’ Documents Are Confidential

An Iowa judge has ruled that the details of “shadow insurance” subsidiaries created by several life insurers can remain confidential. Indiana University professor emeritus Joseph Belth sought the documents last year under Iowa’s open records law, saying he believes they …

from News – Insurance Journal

Hurricane Harvey-Caused Oil, Chemical Spills Dwarfed by Katrina’s

More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of natural gas and hundreds of tons of other toxic substances, a Reuters …

from News – Insurance Journal

Hurricanes to Usher in Short-Term Hard Market for Property Risks: Survey

Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report downplayed initial concerns that …

from News – Insurance Journal

Arizona Gets $3.1M in Funding to Combat Opioid Abuse

Arizona’s efforts to combat opioid abuse are getting a $3.1 million boost from federal taxpayers. The U.S. Department of Health Services says the funding provided the state Department of Health Services is included in $144.1 million of grants awarded nationwide …

from News – Insurance Journal

Lawsuit Filed against Google by Three Former Female Employees in California

Google faces a new lawsuit accusing it of gender-based pay discrimination. A lawyer representing three female former Google employees is seeking class action status for the claim. The suit, filed in San Francisco Superior Court, follows a federal labor investigation …

from News – Insurance Journal

California Governor Signs Plan to Spend $1.5B in Climate Money

California Gov. Jerry Brown has signed two bills that outline a plan to spend $1.5 billion on environmental initiatives using money from the state’s recently renewed cap and trade program. The bills were signed over the weekend, soon after lawmakers …

from News – Insurance Journal

How One German Company Is Making Workplace Robots Safer for Humans

Two years ago, a robot crushed a 22-year-old man to death at a Volkswagen AG factory in Germany after the maintenance worker became trapped in an area usually off-bound to humans. While this type of tragedy is still relatively rare, …

from News – Insurance Journal

Audi Goes Full Speed on Automated Driving, While Competitors Wary of Liability, Regulation

German carmaker Audi is taking a lead in bringing more automated driving to roads, but rivals seem in no rush to follow while legal and regulatory uncertainties still cloud the technology. At the Frankfurt car show, Audi paraded the A8 …

from News – Insurance Journal

Britain to Lose Out on 10,000 Finance Jobs in First Wave of Brexit Reaction: Reuters Survey

Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers …

from News – Insurance Journal

Hundreds Run in New Jersey Charity Race Marred Last Year by Bombing

Hundreds of runners came out Saturday for a Marine Corps charity race on the New Jersey shore, a race run without incident one year after a pipe bomb detonated at the event site and forced its cancellation. Security was beefed …

from News – Insurance Journal

Northeast U.S. Marinas, Coastal Dwellers Cast Wary Eye on Jose

Marinas, coastal residents and others in the Northeastern U.S. are keeping a wary eye on Hurricane Jose as it spins in the Atlantic Ocean, threatening to menace the region by the middle of this week. At the Brewer Fiddler’s Cove …

from News – Insurance Journal

Maine Supreme Court Weighs Issue of Medical Marijuana and Workers’ Comp

The Maine supreme court on Wednesday began considering whether a paper millworker left suicidal by narcotic painkillers should receive workers’ compensation for medical marijuana. It’s the first time the court has considered the question of insurance reimbursement for medical marijuana. …

from News – Insurance Journal

RLI Hires Fowler as VP, Chief Information Officer

RLI Corp. in Peoria, Ill., has added Bryan Fowler to serve as its new vice president, chief information officer (CIO). Fowler will be responsible for leading RLI’s IT strategy and initiatives to support company business goals. He comes to RLI …

from News – Insurance Journal

Seeman Holtz Property & Casualty Acquires DernCo Insurance in Wisconsin

Seeman Holtz Property & Casualty Inc. has acquired DernCo Insurance, headquartered in Milwaukee, Wis. Serving both Wisconsin and Colorado for more than 25 years, Rich Dern and his team have been offering a full spectrum of insurance products from numerous …

from News – Insurance Journal

Linhardt Named Regions Insurance’s State Exec for Arkansas, Texas

Regions Insurance, an affiliate of Regions Bank, has hired David Linhardt as state executive for Arkansas and Texas. As state executive, Linhardt will oversee Regions Insurance operations in the Little Rock, Fayetteville and Fort Smith markets in Arkansas, and the …

from News – Insurance Journal

Some Insurance Adjusters Camping Out in Texas after Harvey

To process tens of thousands of auto and property claims with losses already well into the billions of dollars, insurance companies have adjusters camping out across Texas. The Houston Chronicle reports in one case, the adjusters — many of whom …

from News – Insurance Journal

Hey Congress, Hurricanes and Health Care Have a Lot in Common: Bloomberg View

As Congress continues to struggle with health insurance reform, members should be ruminating on the scenes of “recovery” beaming in from East Texas and Florida, where the majority of households — many now severely damaged or destroyed — had not …

from News – Insurance Journal

Firms Hit by Harvey, Irma Hope Business Interruption Coverage Pays Off

Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers. Exclusions in the fine print of policies, along with waiting …

from News – Insurance Journal

Trump Administration Now Open to Remaining in Paris Climate Accord Under Certain Conditions

The United States could remain in the Paris climate accord under the right conditions, Secretary of State Rex Tillerson said on Sunday. President Donald Trump was willing to work with partners in the Paris agreement if the United States could …

from News – Insurance Journal

Ex-Coal CEO Asks Supreme Court to Toss West Virginia Mine Blast Conviction

Attorneys for former Massey Energy CEO Don Blankenship have made a last pitch to the U.S. Supreme Court to throw out his conviction connected to a 2010 West Virginia mine explosion that killed 29 miners. Attorneys for Don Blankenship say …

from News – Insurance Journal

Berkley to Offer Per Project Primary Limits for Design Firms

Berkley Design Professional (Berkley DP), a division of Berkley Alliance Managers, a Berkley Company, has enhanced its coverage for the architects & engineers professional liability segment with a new “Per Project Primary Limits” coverage for design firm customers. This new …

from News – Insurance Journal

What Went Wrong at Florida Nursing Home Where 8 Residents Died

The first 911 call from the Rehabilitation Center at Hollywood Hills didn’t sound ominous: A nursing home patient had an abnormal heartbeat. An hour later, came a second call: a patient had trouble breathing. Then came the third call. A …

from News – Insurance Journal

Georgia Insurance Head Directs Insurers to Exercise Leniency in Wake of Irma

Georgia’s insurance commissioner hase issued a stern message to the insurance industry in the aftermath of Hurricane Irma, saying in a directive to insurance companies on Thursday that they are to exercise leniency in dealing with Georgia residents that may …

from News – Insurance Journal

A.M. Best: Hurricane Irma to Test Florida Market Newbies

Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and …

from News – Insurance Journal

Hurricane Maria Threatens Already-Battered Caribbean Islands

A second powerful storm in as many weeks was bearing down on a string of battered Caribbean islands, with forecasters saying that Maria had strengthened into a hurricane on Sunday and would intensify before hitting the Leeward Islands on Monday …

from News – Insurance Journal

Miami’s Downed Construction Cranes Spark Debate on Safety

In Miami’s central Edgewater district along Biscayne Bay on Wednesday, a collapsed construction crane hung from the top of a high-rise condominium under development, dangling over low-rise apartments below. Residents wondered why it hadn’t been taken down or better secured …

from News – Insurance Journal

Cincinnati’s Fifth Third Insurance Agency to Acquire Epic Insurance Solutions

Fifth Third Insurance Agency Inc., an indirect, wholly owned subsidiary of Cincinnati, Ohio-based Fifth Third Bancorp, has agreed to acquire Epic Insurance Solutions Agency LLC, which also recently announced it will acquire Integrity HR Inc. Both transactions are expected to …

from News – Insurance Journal

Ex-Illinois County Chairman, State Farm Consultant Sentenced in Fraud Case

A former Illinois county board chairman who also previously worked for State Farm Insurance Co. as a consultant has been sentenced to 12 months and a day in federal prison after being convicted of a wire fraud scheme. In November, …

from News – Insurance Journal

Donaghy Joins Iowa’s Crop Pro Insurance as Director of Data Science

Crop Pro Insurance, a Des Moines, Iowa-based managing general agent (MGA) specializing in crop insurance, has expanded its experienced leadership team with the addition of Brian Donaghy as director of Data Science. Donaghy brings more than 20 years of experience …

from News – Insurance Journal

Buchanan Promoted to VP at RHSB in Dallas

Keleigh Buchanan was recently promoted to vice president at Dallas-based independent insurance broker, RHSB. She has been with RHSB for five years and has 16 years of experience in the insurance industry. Buchanan is a licensed insurance professional working with …

from News – Insurance Journal

ICT Pegs Hurricane Harvey Insured Losses at $19B

The Insurance Council of Texas (ICT) has placed the insured losses from Hurricane Harvey at $19 billion. That number includes an estimated $11 billion in flood losses insured by the National Flood Insurance Program. Insured windstorm and other storm-related property …

from News – Insurance Journal

Workers’ Comp Loss Costs to Fall 16.3% in Oklahoma Next Year

Workers’ compensation loss costs for 2018 will decrease by 16.3 percent in Oklahoma according to a filing by the National Council on Compensation Insurance (NCCI), the Oklahoma Workers’ Compensation Commission (WCC) reported. Loss costs are an insurance industry term for …

from News – Insurance Journal

California Worker’s Comp Insurer Written Premium Down 4% in First Half of 2017

The Workers’ Compensation Insurance Rating Bureau has completed its report on statewide workers’ comp insurer loss and premium experience through June 30. The major findings of the report include: California written premium for the first half of 2017 was $9.1 …

from News – Insurance Journal

Fines for Workplace Deaths in Nevada Reduced Often

Companies that contested Nevada workplace safety citations after an employee died on the job received reduced fines about half the time. An analysis of state and federal Occupational Safety and Health Administration fatality records by the Las Vegas Review-Journal showed …

from News – Insurance Journal

Arizona Supreme Court Won’t Review Lower Court Ruling on Medical Marijuana

The Arizona Supreme Court is letting stand a lower court’s ruling that the state’s medical marijuana law is constitutional in requiring counties to approve reasonable zoning regulations. Maricopa County Attorney Bill Montgomery had appealed a Court of Appeals ruling last …

from News – Insurance Journal

FTC, Congress, States Investigating Equifax Over Data Breach

The U.S. Federal Trade Commission and a powerful Congressional committee are investigating the data breach at Equifax Inc., deepening government scrutiny of the cyber attack that may have compromised the privacy of 143 million U.S. consumers. The probes by the …

from News – Insurance Journal

Google Faces Lawsuit Alleging Employment Bias Against Women

Three female former employees of Alphabet Inc.’s Google filed a lawsuit on Thursday accusing the tech company of discriminating against women in pay and promotions. The proposed class action lawsuit, filed in California state court in San Francisco, comes as …

from News – Insurance Journal

How New EU Rules Make It Tougher for Insurers, Hedge Funds to Manage Current Risk

New European Union regulations on foreign exchange trading will make it harder and more expensive to manage currency risk, traders said, especially for large financial counterparties such as hedge funds and insurance companies. The regulations will impose “variation margins” on …

from News – Insurance Journal

AIA and Zurich Make Separate Bids for Australian Insurance Businesses: Reuters

Hong Kong-based insurance giant AIA Group Ltd. has shown interest in buying Commonwealth Bank of Australia’s insurance business, which is likely to be valued at about $4 billion, people with knowledge of the matter said. Separately, Zurich Insurance Group AG …

from News – Insurance Journal

Fire Destroys Large Section of New York Motel

Investigators are trying to determine what caused a fire that destroyed a large section of a northern New York motel in the heart of a popular Thousand Islands tourist destination. Officials say the fire broke out around 12:30 a.m. Wednesday …

from News – Insurance Journal

Standard Chartered Meets with British Authority Overt Indonesia Bribe Allegations

Standard Chartered was to meet Britain’s Financial Conduct Authority this week over allegations of corruption at an Indonesian power plant company majority-owned by its private equity arm, a source familiar with the matter said on Monday. The bank in September …

from News – Insurance Journal

Uninsured Rate Keeps Dropping in Pennsylvania, Census Says

The number of people without health insurance in Pennsylvania continues to decline, reaching what Democratic Gov. Tom Wolf’s office says is the lowest uninsured rate on record. U.S. Census Bureau data released this week shows Pennsylvania’s 2016 uninsured rate at …

from News – Insurance Journal

Pennyslvania’s Ascinsure Hires Goff as Senior Vice President

Ascinsure Specialty Risk LLC, based in Pittsburgh, Penn., has hired Michael Goff to join the Ascinsure team as its senior vice president. Within this role, Goff will manage Ascinsure’s underwriting and wholesale divisions, including spearheading business development goals and overseeing …

from News – Insurance Journal

Obama Coal Ash Waste Regulation Getting New Look by Trump EPA

The U.S. Environmental Protection Agency on Thursday said it will reconsider a rule regulating coal ash waste from power plants in a win for utility industry groups that petitioned for changes. The EPA, the lead environmental regulator in the United …

from News – Insurance Journal

Driverless Vehicle Makers Get to Steer Own Safety Oversight

The U.S. Transportation Department unveiled a new policy that permits companies developing autonomous vehicles to self-police the technology’s safety, a move that drew plaudits from automakers but criticism from safety advocates. Transportation Secretary Elaine Chao said the policy incorporates concerns …

from News – Insurance Journal

Axa Eyes Options for European Asset Management Unit

French insurer Axa SA is reviewing options for its European asset management unit amid consolidation in the sector, according to people familiar with the matter. Axa is considering a merger or joint venture for the business, the people said, asking …

from News – Insurance Journal

INSUREtrust Adds Hoeflinger as Professional Lines Broker in Atlanta

INSUREtrust has added Hannah Hoeflinger to the company as Professional Lines broker. In this role, Hoeflinger will further grow INSUREtrust’s multi-city Cyber Boot Camps, build broker relations, and manage cyber, tech, and MPL accounts. She will be working on Executive …

from News – Insurance Journal

Judge Allows Ex-AIG Leader Greenberg’s Defamation Claim Against Ex-AG Spitzer

Maurice “Hank” Greenberg, former chief executive of American International Group Inc., may pursue large parts of his defamation lawsuit against former New York Attorney General Eliot Spitzer, a New York state appeals court ruled. Wednesday’s decision by the Appellate Division …

from News – Insurance Journal

Study Shows California Workers’ Comp Medical Review Volume May Be Leveling off

The volume of workers’ compensation independent medical reviews in California appears to be tapering off, a new study shows. The IMR process was established by California lawmakers to resolve medical disputes. A study from the California Workers’ Compensation Institute shows …

from News – Insurance Journal

Green Cat Bonds Aren’t a Thing – Yet

Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of people in the …

from News – Insurance Journal

FEMA: 25% of Florida Keys Homes Destroyed by Irma

With 25 percent of the homes in the Florida Keys feared destroyed, emergency workers Tuesday rushed to find Hurricane Irma’s victims – dead or alive – and deliver food and water to the stricken island chain. As crews labored to …

from News – Insurance Journal

30 Recalled Volkswagens Stolen from Michigan Parking Lot

Michigan investigators and out-of-state police are tracking down over 30 recalled diesel vehicles that were stolen from the parking lot of a shuttered arena in eastern Michigan. Indiana State Police Sgt. Jerry Goodin says the Volkswagen cars were part of …

from News – Insurance Journal

MJ Insurance Adds Lahr, Wells to Risk Management, Commercial Insurance Team

MJ Insurance, headquartered in Indianapolis, Ind., has added Olivia A. Lahr and Amy Wells to the commercial insurance and risk management team as risk transfer specialists. Lahr and Wells will be responsible for developing client risk financing and transfer strategies. …

from News – Insurance Journal

Police at California University Get to Use Pepper Spray at Violent Protests

The Berkeley City Council this week gave police permission to use pepper spray to repel demonstrators attacking officers and others during violent protests of the kind that have repeatedly hit the city this year. The 6-3 vote by the council …

from News – Insurance Journal

New Mexico Prosecutor, Insurance Company Spar Over Premium Taxes

A standoff over millions of dollars in unpaid insurance premium taxes is escalating between New Mexico’s attorney general and the state’s largest health-care insurance provider. New Mexico Attorney General Hector Balderas this week renewed accusations that a for-profit insurance arm …

from News – Insurance Journal

M4.2 Earthquake Shakes Central Alaska

A magnitude 4.2 earthquake has hit central Alaska, the Alaska Earthquake Center has confirmed. According to the center, the earthquake struck at 11:32 p.m. on Tuesday and its epicenter was 39 miles north of the town of Talkeetna, which has …

from News – Insurance Journal

Man Sentenced to Prison After Admitting to Scamming New Jersey Company

An Ohio man has been sentenced to over two-and-a-half years in federal prison for defrauding a New Jersey company out of nearly $1 million. Authorities say 44-year-old John Tekulve owned a medical supply company that sold products to the Essex …

from News – Insurance Journal

PIANY Elects Holender President, Names Directors and Officers

Professional Insurance Agents of New York Inc. has elected Fred Holender as president at an annual meeting of the association’s board of directors in Glenmont, N.Y. Holender is director of administration for Lawley Service Inc. in Buffalo, N.Y. As a …

from News – Insurance Journal

Small Businesses Can Manage, Cancel Own Policies with Insurtech Next Insurance Offers

Digital small business insurance provider Next Insurance has unveiled a new online portal giving small businesses more control over their insurance policies. The portal offers what Next says are several unique insurance services, including the option to cancel a policy …

from News – Insurance Journal

Massachusetts’ Insurance Recovery Group Appoints James as President and CEO

Paul James has been appointed to the role of president and chief executive officer of Insurance Recovery Group Inc. (IRG) by David A. Jollin, IRG’s chairman of the board. IRG is a national subrogation, second injury fund, COLA recovery and …

from News – Insurance Journal

Allianz Specialty Goes Live with ‘Insurtech’ for Small Business Brokers, Policyholders

Borrowing ideas from some insurtech startups, Allianz Global Corporate & Specialty has a new platform for brokers and their Main Street customers “from barber shops to bakeries and toy stores to tailor.” The site, AllianzGo, promises U.S. brokers and policyholders …

from News – Insurance Journal

Exxon Must Disclose Accounting Details in New York Climate Probe

Exxon Mobil Corp.’s attempt to use “accountant-client privilege” to avoid handing over audit documents in a politically charged climate-change probe was dealt a final blow by New York’s top court. The finding on Tuesday affirms a 2016 ruling that Exxon …

from News – Insurance Journal

Harvey and Irma Jeopardize 2017 Earnings, Says Munich Re

Munich Re, the world’s largest reinsurer, said storms led by Hurricanes Harvey and Irma will probably wipe out third-quarter profit and threaten the company’s ability to meet its full-year earnings target. “These two events are expected to result in high …

from News – Insurance Journal

Some Banks Already Follow Consumer Bureau’s Softer Arbitration Policy

Senator Elizabeth Warren, who opposes efforts to dismantle a new rule allowing customers to sue financial companies in class actions, released letters on Tuesday from U.S. bank CEOs in which they declined to defend lobbying against the measure and several …

from News – Insurance Journal

New Construction Coverage From Liberty Mutual, Ironshore Targets Integrated Projects

Liberty Mutual and Ironshore’s dedicated construction practices have introduced an Integrated Primary Wrap Up/Project Specific program offering general liability (GL) and professional liability (PL) protection for medium and large construction projects developed through design-build or integrated project delivery (IPD). Workers’ …

from News – Insurance Journal

Irma’s Path, Girth Created Bizarre Storm Surge in Florida

Hurricane Irma’s devastating storm surge came with weird twists that scientists attribute to the storm’s girth, path and some geographic quirks. A combination of storm surge, heavy rains and swollen rivers sent some of the worst flooding into Jacksonville, Florida, …

from News – Insurance Journal

Florida Insurance Regulator Issues Irma-Related Emergency Order

The Florida Office of Insurance Regulation has suspended and activated certain insurance rules and statutes for the health, safety, and welfare of Florida’s policyholders in the aftermath of Hurricane Irma, according to an emergency order from Insurance Commissioner David Altmaier …

from News – Insurance Journal

Seeman Holtz Property & Casualty Acquires Stirling Insurance of Florida

Seeman Holtz Property & Casualty, Inc. (SHP&C) has acquired Stirling Insurance Services, Inc., headquartered in Boca Raton, Florida. Stirling has served all of Florida for over 28, led by Terry Sgammato and his team who provide all insurance products and …

from News – Insurance Journal

Minnesota Construction Company to Pay $125K to Settle Race Harassment Lawsuit

A Hugo, Minn., construction company will pay $125,000 to settle a racial harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency reported. The EEOC’s lawsuit charged that JL Schwieters Construction Inc. violated federal law when …

from News – Insurance Journal

Number Drops but Texas Still Has Highest Rate for People Without Health Insurance

The number of people without health insurance in Texas continues to decline, but the state still has more residents without coverage than anywhere in the nation. U.S. Census Bureau data released Tuesday shows Texas’ 2016 rate of uninsured at 16.6 …

from News – Insurance Journal

Missouri’s HALO Insurance & Benefits Adds Lankford, Vaughn

Maplewood, Mo.-based HALO Insurance & Benefits Group has hired Brenden Lankford as a personal lines account manager and Denean Vaughn as an insurance producer. Lankford previously worked in personal lines insurance for an Edwardsville, Illinois, insurance agency. Vaughn has more …

from News – Insurance Journal

Texas AG Sues 2 Businesses for Price Gouging During Hurricane Harvey

Attorney General Ken Paxton has filed lawsuits against three Texas businesses, accusing them of unlawful price gouging while consumers were in need of fuel, shelter and other essentials as a result of Hurricane Harvey. Texas law prohibits vendors from charging …

from News – Insurance Journal

Waiting Period Suspended for Harvey-Related Claim Payouts for Totaled Vehicles

Texas Gov. Greg Abbott has suspended a state statute in ordered to help facilitate the payment of insurance claims for vehicles that were totaled by Hurricane Harvey, the governor’s office said. Abbott temporarily suspended a law that required a 30-day …

from News – Insurance Journal

Buckner Co. Names Butler Senior Vice President in Colorado

The Buckner Co. has named Lance Butler senior vice president of Colorado. Butler will be responsible for managing the top line growth and development of Colorado. Butler has more than 25 years of experience in large commercial accounts. The Buckner …

from News – Insurance Journal

Florida Begins Slow Recovery After Irma’s Hard Hit

Aid rushed in to hurricane-scarred Florida early Tuesday as officials pieced together the scope of Irma’s destructive path and displaced residents awaited word on hard-hit areas including the Florida Keys. It was difficult to get detailed information on the condition …

from News – Insurance Journal

Texas Mutual Creates $10M Fund for Policyholders Affected by Hurricane Harvey

Workers’ compensation insurance provider Texas Mutual Insurance Co. has established a grant of $10 million to policyholders affected by Hurricane Harvey. The grant program is intended to support the recovery of business operations throughout the Gulf Coast region. Grant applications …

from News – Insurance Journal

Proposal Aims to Make Deadly Indiana Highway Safer

The Indiana Department of Transportation has proposed a way to make a deadly stretch of highway in western Indiana safer. Department officials told the Vincennes Sun-Commercial that an intersection of U.S. 41 near Oaktown may be turned into a J-turn …

from News – Insurance Journal

Irma’s Path Through the Southeast Causes Flooding; Kills 2 in Georgia, 2 in South Carolina

The remnants of Hurricane Irma forced Atlanta’s international airport – the world’s busiest passenger airport – to cancel nearly 200 flights early Tuesday. The storm also claimed two lives in Georgia and two in South Carolina. The flights canceled at …

from News – Insurance Journal

Drugmakers for Dismissal of Ohio AG’s Opiate Lawsuit

Five drugmakers are asking a judge to dismiss a lawsuit filed by the Ohio attorney general that alleges they helped perpetrate the state’s addictions epidemic. Attorney General Mike DeWine accuses the companies of intentionally misleading patients about the dangers of …

from News – Insurance Journal

Gibbons Joins J.M. Wilson as Assistant Transportation Underwriter in Ohio

Managing general agency and surplus lines broker J.M. Wilson has added Ryan Gibbons as assistant transportation underwriter in its Westerville, Ohio office. Gibbons is responsible for assisting underwriters on a wide variety of commercial transportation risks, as well as quoting …

from News – Insurance Journal

U.S. Investigating Arkema’s Safety Practices After Texas Fires

The U.S. Environmental Protection Agency is investigating whether chemical maker Arkema SA followed safety rules at its Crosby, Texas, plant where chemical containers exploded and burned for days after flooding from Hurricane Harvey, an EPA official said. The EPA sent …

from News – Insurance Journal

Willis Towers Watson: Hurricane Harvey Could Upend Commercial Insurance Prices

Hurricane Harvey could upend a trend of nearly flat commercial insurance prices that has continued since 2015, Willis Towers Watson said in its latest industry survey. “Insurers are bracing for a significant volume of complex commercial property claims, as well …

from News – Insurance Journal

U.S. Flood Insurance Program Expects $11B in Texas Flood Payouts

The U.S. federal flood insurance program estimates it will make $11 billion in payments through the government-run program for flooding in Texas caused by Hurricane Harvey, the program’s administrator Roy Wright said. Additionally, in an attempt to make those payments …

from News – Insurance Journal

Sciemus Partners with HSCM Bermuda and Is Renamed Argon Underwriting

Sciemus, a specialty Lloyd’s MGA, is forming an investing partnership with HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets across all lines of business. The deal also calls for Sciemus to change its name as it evolves …

from News – Insurance Journal

Ohio Supreme Court: Apology Expressing Fault Can’t Be Used in Lawsuits

The Ohio Supreme Court has ruled that an apology by a medical provider that includes an admission of liability can’t be used in a later lawsuit against the provider. At issue in the court’s Tuesday decision was the state’s “apology …

from News – Insurance Journal

Cat Facility CCRIF to Pay 6 Caribbean Nations $29.6M for Hurricane Irma Damage

Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma. CCRIF’s parametric tropical cyclone insurance policies will pay $6.8 million to Antigua & Barbuda; $6.5 million …

from News – Insurance Journal

Troubled California Gas Facility Has One Third of Wells Shut Down

The largest gas storage facility in the West halted using a third of the wells pumping methane underground at high pressure just weeks after it resumed operations following a blowout that crippled it for nearly two years. Southern California Gas …

from News – Insurance Journal

Chubb Names Capparelli as North America Global Casualty Executive VP

Chubb has appointed Lou Capparelli as executive vice president of its Global Casualty business unit, which provides a full range of domestic and foreign casualty insurance coverage offerings to large national and multinational companies within the company’s North America Major …

from News – Insurance Journal

QBE Group CEO Neal to Exit; Regan to Succeed Him in January

QBE Insurance Group today announced that John Neal, Group chief executive officer, will be stepping down after five years in the role. The board of directors has appointed Patrick Regan, chief executive officer Australian and New Zealand operations and previously …

from News – Insurance Journal

Florida on Alert for AOB Abuse as Irma Recovery Begins

As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …

from News – Insurance Journal

Statewide Municipal Group in Vermont May End Town’s Insurance Coverage

The Vermont League of Cities and Towns is considering defeat for the town of Victory, Vt. The Caledonian-Record reports two of Victory’s selectmen were sent a letter from the nonprofit that provides insurance to municipal governments, explaining the town was …

from News – Insurance Journal

Colony Specialty Appoints York as North Region Casualty Manager

Colony Specialty, a member of Argo Group International Holdings Ltd., has appointed Mike York as regional manager of the North Region within its U.S. Casualty Division. York will report to Tim Williams, vice president of underwriting at Colony Specialty. In …

from News – Insurance Journal

New York’s Brady Risk Program Managers Hires Three

Brady Risk Program Managers and its partner companies, Tritan Risk Management Group and Healthcare Risk Management Group, have announced that Michael McKeown has joined the firm as senior vice president of brokerage and program management services. In this role, McKeown …

from News – Insurance Journal

CopperPoint Acquires Pacific Compensation Insurance in California for $150M

CopperPoint Mutual Insurance Co. announced it has entered into a definitive agreement to acquire California-based workers’ compensation carrier Pacific Compensation Insurance Co. from Alleghany Insurance Holdings LLC for $150 million in cash. The combined book of underwriting business for the …

from News – Insurance Journal

Irma Leaves Behind Death and Destruction in Cuba

The historic but often decrepit buildings of Havana and other colonial Cuban cities couldn’t stand up to Hurricane Irma’s winds and rainfall, collapsing and killing seven people in one of the highest death tolls from the storm’s passage through the …

from News – Insurance Journal

Death Toll from Mexico Earthquake Rises to 96

The death toll from Mexico’s 8.1 magnitude earthquake rose to 96 on Monday as more victims were confirmed in the hard-hit southern states of Oaxaca and Chiapas and residents worked to repair shattered homes and small businesses. The Foreign Relations …

from News – Insurance Journal