Texas, Louisiana Among States Most at Risk for Storm Surge, CoreLogic Says

Some 7.3 million U.S. homes with an estimated reconstruction cost of $1.8 trillion are at risk from storm surge, Irvine, California-based data analytics provider CoreLogic said in its 2019 Storm Surge Report, issued days before the start of the 2019 …

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Rains Ease but Risk of River Flooding in Central U.S. Still High

Rain-swollen rivers threatened more flooding on Thursday in Arkansas, Louisiana, Illinois and Oklahoma, as Tulsa’s mayor warned that the decades-old levee system in his city would be at risk even as waters receded through the weekend. Since early last week, …

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Risk Placement Services Creates North Central Region Transportation Team

Rolling Meadows, Illinois-based insurance wholesaler, managing general agent (MGA) and specialty insurance distributor, Risk Placement Services Inc. (RPS), has expanded its Transportation business unit with the creation of a new Transportation team for the North Central states of Wisconsin, Minnesota, …

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Iowa Insurance Agent Faces Fraud, Theft Charges

Iowa insurance agent Jonathan Adam Schlue, age 35, of Davenport, faces four counts of Fraudulent Sales Practices (Class D Felony), two counts of Fraudulent Submissions (Class D Felony), two counts of Conspiracy to Commit a Non-forcible Felony (Class D Felony), …

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Louisiana to United HealthCare: Insurance Producer Commissions Must Be Paid

Louisiana Insurance Commissioner Jim Donelon says United HealthCare Services Inc. and/or UnitedHealthcare Insurance Co., its subsidiaries and affiliates (collectively, “United”) can’t proceed with its intention to stop paying producer commissions on renewals of certain group health insurance products. Donelon issued …

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Gerger Joins Illinois Independent Agents Group as Education, Agency Resources Director

Brett Gerger, former chief deputy director of the Illinois Department of Insurance, has joined the Independent Insurance Agents of Illinois (IIA of IL) as director of Education & Agency Resources. In his new position, Gerger will have oversight over IIA …

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Oregon Man Settles With Hospital over Dead Wife’s Rings

An Oregon hospital has agreed to pay a settlement to the husband of a woman whose wedding rings disappeared within hours of her death. The Oregonian/OregonLive reported Wednesday that an insurance adjuster for Providence Portland Medical Center has agreed to …

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Los Angeles County Files Suit Against Bayer’s Monsanto over PCBs

Los Angeles County sued Monsanto Co. on Thursday, seeking to force the unit of Germany’s Bayer AG to help pay for reducing PCB contamination in dozens of bodies of water. The most populous U.S. county, which has about 10.1 million …

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Beer Settlement Offers Partial Refunds Over ‘Hawaii’ Claims

The maker of Kona beer agreed to offer partial refunds to settle a lawsuit claiming it misled consumers in the continental United States into believing the craft brew was actually made in Hawaii, causing them to overpay. Settlement papers were …

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PG&E Restructuring Plan Upped to $45B by Creditors

A group of PG&E Corp. creditors could preempt the embattled California utility’s own attempt to claw its way out of bankruptcy by presenting a restructuring plan that could be worth at least $45 billion, according to people familiar with the …

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Lawyers Professional Claims Grow in Severity, Complexity, Cost

The number of legal malpractice claims resulting in larger multimillion dollar payouts – as well as the dollar amounts involved – has surged in the past year, with at least two settlements exceeding $250 million. That’s according to the latest …

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Flying Is Less Safe Than It Was But It’s Not All Boeing’s Fault

Flying has become deadlier than it has been for years and it’s hard to pin it solely on Boeing Co.’s infamous 737 Max. Aircraft accidents occurred more frequently in almost every region worldwide in 2018 as the death toll climbed …

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New Hampshire Sues 3M, DuPont, Other Chemical Companies

New Hampshire has sued eight companies including 3M and the DuPont Co. for damage it says has been caused by a class of potentially toxic chemicals found in pizza boxes, fast-food wrappers and drinking water. The substances – known collectively …

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Aon to Expand Partnership with CoverWallet for Small-Medium Business Market

Global insurance broker Aon is partnering with digital insurance platform CoverWallet to serve clients in Australia. The parties also said they are in the process of expanding this partnership to additional geographies, including the United States. The Aon platform run …

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Governor Cuomo Says New Commission Will Tackle Shoreline Flooding

New York Governor Andrew Cuomo is creating a commission to find new ways to harden Lake Ontario’s shoreline as federal officials warn this year’s flooding will be worse than 2017’s records. The Democrat said Wednesday that it appears high water …

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Family of Maine Roofer Who Fell Files $2.5M Wrongful-Death Suit

The family of a Maine roofer who died in a fall has filed a $2.5 million wrongful-death suit against his employer. The Portland Press Herald reports that Alan Loignon’s family says Saco-based contractor, 44-year-old Shawn D. Purvis, discouraged the use …

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Philippine’s Yuchengco Offers Single App for Services from Insurance to Funerals

Yuchengco Group of Cos. is planning to launch a mobile app offering the full range of the Philippine family firm’s services — from insurance to holiday packages to funerals — using payment facilities from Yuchengco’s Rizal Commercial Banking Corp. The …

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Allianz Expansion Plan Includes $1 Billion for Insurers

Allianz SE agreed to buy two insurance businesses in the U.K. in deals valued at a combined $1 billion, transforming the firm into the second-biggest general insurer in the country. The Munich-headquartered company agreed to acquire the general-insurance business of …

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Opponents of Airport Expansion Plan to Use Drones to Close London’s Heathrow

Climate activists from Extinction Rebellion have drawn up plans to use drones to shut London’s Heathrow Airport this summer in a campaign to stop the construction of a third runway at Europe’s busiest airport, the group said. The internal proposal, …

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Facebook Rebuffed by Irish Supreme Court Over Data Transfer Case Referral

The European Court of Justice (ECJ) will hear a landmark privacy case regarding the transfer of EU citizens’ data to the United States in July, after Facebook’s bid to stop its referral was blocked by Ireland’s Supreme Court on Friday. …

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Costigan Joins Alliant Insurance Services’ in Miami

Alliant Insurance Services has added Jamie Costigan to the firm as senior vice president. Costigan will provide risk management services for healthcare clients across the U.S. Costigan joins Alliant with knowledge of the healthcare industry, working with a range of …

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4 Months of Mississippi Delta Flooding Taking a Toll on Farmers, Residents

Larry Walls should have been out working in his fields last week. Instead, his John Deere tractor is parked on high ground, just beyond the reach of the ever-encroaching floodwaters in the southern Mississippi Delta. Four months into what seems …

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Congress Renews Flood Insurance Program Until June 14

Having failed several times to pass a $19 billion disaster aid bill with a federal flood insurance reauthorization provision by unanimous consent, the House of Representatives managed on Thursday to pass a separate two-week extension of the federal flood insurance …

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California Utility Regulator OKs PG&E’s Wildfire Mitigation Plan

A Wildfire Mitigation Plan submitted by Pacific Gas & Electric Corp. was approved by the California Public Utilities Commission on Thursday. The state Legislature in 2018 enacted Senate Bill 901 mandating action by the CPUC on Wildfire Mitigation Plans submitted …

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Unusual If Not Unprecedented: 500 Tornadoes in 30 Days

The U.S. has been rocked by 500 tornadoes in the past 30 days with a trapped jet stream in the atmosphere “stuck in neutral,” according to the U.S. Storm Prediction Center. In the past seven decades, only 2003, 2004, 2008 …

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Severe Weather Impacting Oklahoma’s Canola, Wheat Crops

Oklahoma’s canola and wheat harvests could be smaller and come later than expected due to recent severe weather, agriculture officials said. Josh Lofton, the state’s agriculture secretary and Mike Schulte, executive director of the Oklahoma Wheat Commission, said that growers …

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Flooding Persists as River Nears Crest in West Arkansas

The Arkansas River neared a historic crest on May 29 in Arkansas’ second-largest city, but officials said the levee system was “performing admirably” from the rush of water coming downstream from rain-soaked Oklahoma and Kansas. Still, the river was nearly …

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Arkansas Imposes 60-Day Insurance Cancellation Moratorium for Flood Victims

The Arkansas Insurance Department announced a 60-day moratorium on the cancellation/non-renewal of policies for the non-payment of premiums by Arkansans affected by the flooding of the Arkansas River under Gov. Asa Hutchinson’s May 24 declaration of a State of Emergency …

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State of Emergency Declared in Ohio; Insurers Asked to Allow Deferred Payments

Ohio Insurance Director Jillian Froment has issued a bulletin to all insurance companies and other entities transacting the business of insurance in the state to allow leeway to insurance consumers in counties covered by a state of emergency declaration resulting …

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Insurance Paid Out $162K After Fuel Theft from Louisiana School System

A state audit says a Louisiana school bus mechanic allegedly stole about $200,000 in fuel by using a school board fuel card to fill log truck tanks. The audit says a phishing scam cost the Union Parish School Board another …

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Governor: Care for Injured Drivers in Michigan Will ‘Still Be There’ After Insurance Overhaul

Michigan Gov. Gretchen Whitmer on May 28 defended a pending overhaul of the state’s auto insurance law, saying treatment for injured drivers will “still be there” if they forego what has been a one-of-its-kind, mandatory unlimited personal injury protection benefit. …

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Milwaukee County Settles Jail Death Lawsuit for Nearly $7M

Wisconsin’s Milwaukee County paid nearly $7 million to settle a lawsuit from the family of a man whose dehydration death in jail was described by his attorneys as torture. Attorneys for 38-year-old Terrill Thomas called the settlement one of the …

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Colorado Governor Signs Bill Increasing Immigrant Driver’s License Locations

A bill increasing the number of locations where Colorado residents who are in the country illegally can obtain driver’s licenses has become law. Gov. Jared Polis signed the legislation on Tuesday. Farming, dairy and other business groups backed the initiative, …

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Colorado Man Files Negligence Suit in Deadly New Mexico Bus Crash

A Colorado man who survived a bus crash in New Mexico that killed three people including his wife last July has filed a lawsuit. Ramon Grajeda-Beltran and Olga Hernandez-Beltran of Rocky Ford were passengers on a commercial bus traveling from …

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Digital Tools Helping Captive Insurers Grow Their Third-Party Business: Marsh

The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the ways that organizations can provide and service insurance, according to global insurance broker Marsh. Technology advances, including mobile applications and …

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New Loan Program Could Help Connecticut Homeowners with Foundation Woes

Connecticut lawmakers are working to provide additional assistance to homeowners impacted by the crumbling foundations problem. The House of Representatives last week advanced a bill to the Senate, by a vote of 131-7, requiring the Connecticut Housing Finance Authority to …

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Gamblers in Pennsylvania Claim Illegitimate Decks of Cards Lost Them $250K

Two gamblers have filed a federal lawsuit against a Philadelphia casino claiming they lost $250,000 because of faulty shuffling machines and illegitimate decks of cards. The lawsuit against SugarHouse was filed in Philadelphia on Wednesday and accuses the casino of …

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Marsh FinPro’s Hopper Joins Starr to head Financial Institutions Practice for UK and Europe

Starr Insurance Companies today announced the appointment of Andrew Hopper as head of Financial Institutions for the UK and Europe. Hopper will be responsible for the strategy and profitable growth of the Financial Institutions division. Prior to Starr, Hopper was …

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Damage to Homes, Large Hail Reported in Pennsylvania After Severe Storms

Severe storms swept through Pennsylvania and several tornadoes were reported, causing damage to some homes but no immediate reports of injuries. Emergency dispatchers in eastern Pennsylvania’s Berks and Chester county reported roof damage and some partial collapses in Caernarvon Township, …

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Three Convicted in New York City Fake Accident Fraud Scheme

Three men have been convicted in a trip-and-fall scheme that recruited low-income people and the homeless to defraud New York City-area businesses and their insurance companies. Prosecutors say a federal jury in Manhattan Tuesday found Bryan Duncan, Robert Locust and …

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India’s Ambani Weighs Selling Reliance General Insurance to Reduce Debt

Beleaguered Indian tycoon Anil Ambani is in talks to sell his group’s general insurance unit to a shadow lender, people familiar with the matter said, as he seeks to reduce debt. Reliance Capital Ltd., controlled by Ambani, is discussing the …

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Debt Insurance Staging a Comeback with Investors As Distressed Situations Increase

Corporate debt insurance that fell out of favor after the financial crisis is returning to vogue as default rates rise and a series of high-profile failures pay off for short sellers. Credit-default swaps trading increased 7% this year, with average …

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Judge Dismisses Investors’ Claim Cboe Allowed Manipulation of Stock Market ‘Fear Gauge’

A federal judge on Wednesday dismissed a lawsuit in which investors accused the parent of the Chicago Board Options Exchange of letting anonymous traders rig Wall Street’s main gauge of future stock market volatility at their expense. U.S. District Judge …

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8 Considerations for Buyers and Sellers of Insurance Agencies

Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger agency transactions, there are …

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7 U.S. Exchanges Face Investors’ Claims for Favoring High Frequency Traders

A Manhattan federal judge has ordered seven U.S. stock exchanges to face proposed class-action claims that they defrauded ordinary investors by quietly enabling high-frequency traders to trade faster and at better prices. U.S. District Judge Jesse Furman on Tuesday said …

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Officials Investigating 3 Intentional Fires Set in Mississippi City

Fire officials in a Mississippi city say three recent fires in the same neighborhood were intentionally set. Vicksburg Fire Chief Craig Danczyk tells WLBT a vacant apartment building went up in flames on Saturday. The second fire occurred at a …

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Chicago Fitness Club to Pay $45K to Settle Sex Harassment Suit

A Chicago fitness club will pay $45,000 and provide other relief to settle a federal sex harassment and retaliation lawsuit brought The U.S. Equal Employment Opportunity Commission (EEOC) says an employee of Lakeshore Sport and Fitness filed a discrimination charge …

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AM Best Assigns Credit Ratings to Centerline Property & Casualty of Tennessee

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” to Centerline Property and Casualty Insurance Co., headquartered in Knoxville, Tenn. The outlook assigned to these Credit Ratings is stable. The …

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Jackson Sumner & Associates Adds Edmonds as HR/Office Manager in North Carolina

Jackson Sumner & Associates (JSA) has hired Laura Edmonds as human resources and office manager for the organization’s leadership team. Edmonds will helm all HR efforts including developing and communicating company policies and procedures to employees, managing the onboarding of …

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Remembering Chernobyl As World’s Nuclear Industry Seeks Role in Future of Sustainable Energy

A television series about the world’s worst nuclear accident is refocusing millions of viewers on atomic risks just as the industry struggles to gain traction in markets flooded with renewable power. Home Box Office Inc.’s mini-series “Chernobyl” is set to …

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European Business Leaders’ Confidence Drops Over Brexit

Uncertainty over Britain’s departure from the European Union has triggered a sharp drop in business confidence in Europe over the past six months, a survey showed on Thursday. Only 50% of European business leaders said they were confident about the …

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Father Testifies in J&J Opioid Marketing Trial on Death of His College Football Star Son

Austin Box was a home-grown football star at the University of Oklahoma in 2010 when back surgery to repair an injury got him started on powerful opioid painkillers that would end his life at 22, his father testified through tears …

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International Marine Underwriters Enhances Ocean Cargo Coverage

International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has enhanced its ocean cargo policy with new coverages to address the needs of an increasingly global ocean marine market and a redesigned form. The ocean cargo policy and extension …

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Several Injured by Deck Collapse at North Carolina Beach House

A deck collapsed Monday at a home in Ocean Isle Beach, injuring several people. Ocean Isle Beach Mayor Debbie Sloane Smith tells news outlets that the incident occurred Monday afternoon. Smith says she was told a group of people had …

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Nebraska’s Creighton University Launches FinTech Degree Program

Creighton University in Omaha, Nebraska, announced its Heider College of Business has launched what the university says is the first of its kind Finance and Technology (FinTech) major, a degree program that combines elements of the college’s Finance degree program …

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Sovos Acquires Iowa’s Eagle Technology Management

Global tax software provider Sovos is acquiring Iowa-based Eagle Technology Management (ETM), which provides statutory financial reporting and insurance premium tax software to insurers, and unclaimed property reporting products and services to financial institutions, corporations and insurance companies in the …

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Cavignac & Associates in California Names Enderby Account Manager

San Diego, Calif.-based Cavignac & Associates has named Melissa Enderby an account manager within the firm’s small business unit. Enderby’s responsibilities include completing requests for proposals, preparing presentations and proposals, planning and conducting open enrollment meetings, submitting applications and forms …

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California Commissioner Wants Insurers to Extend Living Expense Coverage for 2017 Wildfire Survivors

California Insurance Commissioner Ricardo Lara on Wednesday announced two new actions intended to assist survivors of the 2017 North Bay Fires who are facing unavoidable delays in rebuilding. The California Department of Insurance issued a notice to insurers requesting they …

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Dump Track Crashes Into Gloria Estefan Recording Studio in Miami, Injures 2

Authorities say a dump truck hit a sports utility vehicle before crashing into a recording studio owned by Gloria and Emilio Estefan. Miami-Dade Fire Rescue tweeted that two people were taken to the hospital and two others were treated at …

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Viewpoint: Ground Will Shake and Snakes Will Flee as the Mississippi Drains

I was on site in 2011 when the Army freed the Mississippi from a man-made barrier and unleashed it into a large swath of rural Louisiana — a harrowing trade off that flooded homes and farms to avoid catastrophe in …

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Risk Strategies Acquires Texas’ MainStreet Consulting Group

Boston-based insurance brokerage and risk management firm Risk Strategies has acquired MainStreet Consulting Group, a brokerage headquartered in Conroe, Texas, just north of Houston. Terms of the deal were not disclosed. Established in 2003, MainStreet Consulting Group is primarily focused …

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Ex- Clerk for Nebraska City Reaches $325K Settlement in Retaliation Suit

A former Nebraska City clerk who sued after he was essentially fired by the City Council in 2015 has agreed to a $325,000 settlement offered by the city. The Lincoln Journal Star reports that Arnold Ehlers’ lawsuit said the Nebraska …

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Minnesota Supreme Court Malpractice Ruling Has Doctors Concerned

A recent ruling from the Minnesota Supreme Court saying doctors can be sued for malpractice even if they’re not directly treating a patient is causing angst in the state’s medical and legal communities. The high court said in its ruling …

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Major Flooding on Rivers Increases 63% Over Last Five Days

The United States Geological Service and NOAA are reporting that 415 river gauges in the U.S. show flood conditions as of 9:26 AM New York time on May 29. 346 flood locations were in flood status on May 24 Major …

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Multiple Tornadoes Leave Trail of Destruction Across Indiana, Ohio

A rapid-fire line of apparent tornadoes tore across Indiana and Ohio overnight on May 27-28, packed so closely together that one crossed the path carved by another. There were no immediate reports of any deaths or serious injuries in the …

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Hawaii Eruption Caused $94M Loss in Economic Benefit

Communities near Hawaii Volcanoes National Park lost up to $94 million in economic benefit last year compared to the previous year due to the eruption of Kilauea Volcano, officials said. The National Park Service found the Big Island park had …

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8 Tornadoes, Hail Hit Colorado’s Northeastern Plains

Severe thunderstorms produced eight weak tornadoes over Colorado’s northeastern plains while snow fell in parts of the mountains on the unofficial start of summer. The National Weather Service says no damage was reported from Monday’s twisters. However, the storms that …

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Amid Expense Allegations, Argo Shareholders Handily Elect Board But Barely Approve Executive Pay

Argo Group International Holdings ended up having a fairly routine annual meeting on May 24, after spending months fending off accusations of excessive spending and other abuses from an activist shareholder. One exception: A tight vote on executive compensation. The …

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Long Island Rail Road Says Train Service to Hamptons Has Resumed After Derailment

The Long Island Rail Road says train service to the Hamptons has resumed after a derailment halted service for two days. The railroad said on Twitter Monday that the 7:04 train from Montauk would be the first westbound train to …

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The Hilb Group Acquires New England-Based 360 Corporate Benefit Advisors

The Hilb Group LLC (THG) has acquired New England-based 360 Corporate Benefit Advisors (360CBA). The transaction became effective May 1, 2019. With offices in Fairfield, Conn., and Wayland, Mass., 360CBA is an employee benefits consulting firm providing insurance brokerage, administration …

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Pennsylvania’s KMRD Partners Welcomes Back McPoyle

KMRD Partners has welcomed back Colin P. McPoyle in a new business development role. In this role, he will work to identify new business opportunities and develop relationships and strategies with organizations to reduce their cost of risk. Prior to …

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OSHA Calls for Review of Machine Safety Rule in Age of Robotics

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) is considering an update to the rules governing the use of machines in the workplaces in light of the increasing use of robotic technology. The agency said it is …

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Massachusetts’ Activer Solutions Appoints Feirer as Chief Marketing Officer

Activer Solutions, a Marlborough, Mass.-based, strategic service partner providing business process outsourcing to the property and casualty insurance industry, has appointed Ernie Feirer as chief marketing officer. This new role reflects the company’s preparation for growth, expansion of partnerships and …

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Insurers Face Minimal Losses from Peru and Ecuador Earthquake: A.M. Best

A.M. Best said it does not foresee a major impact to the domestic insurance markets in Peru or Ecuador following a significant earthquake centered in Peru that also affected several provinces in neighboring Ecuador. On May 26, 2019, an 8.0 …

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European Central Bank Calls for ‘Deeper Understanding’ of Climate Risks for Financial System

Climate change could hit bank balance sheets with a knock-on effect on financial stability, the European Central Bank warned on Wednesday. In a special feature for its semi-annual Financial Stability Review on Wednesday, the ECB said problems will materialize if …

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Texas Rubber Company Faces $530K in Penalties for Safety Violations

Federal safety officials have levied more than a half a million dollars in penalties against a Texas rubber products company for multiple workplace safety violations. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited Custom Rubber Products …

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Early Cannabis Insurance Claims Experience Differs from Expectations

It’s still early, but claims experience thus far in the cannabis insurance market is encouraging, according to one leading writer. “So far, we’re optimistic that we’re going to see that our experience is going to be better than our other …

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Oklahoma Says J&J ‘Deceitful’ Marketing Fed Opioid Epidemic; J&J Says It Did Nothing Wrong

Johnson & Johnson’s greed for more sales of its addictive opioid painkillers helped create a deadly epidemic in Oklahoma that claimed thousands of lives, and the company should pay billions of dollars as compensation, the state’s top law-enforcement officer told …

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Maersk’s Blockchain Platform Gains 2 Large Shippers

Two of the world’s biggest shipping groups will join a Maersk led blockchain platform aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. With Mediterranean Shipping Co (MSC) and CMA CGM, the second- and fourth-largest …

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Increasing Physician Prices Doesn’t Produce Better Results for Injured Workers

When the price of physician services increases relative to group health rates, injured workers report fewer problems getting the care they want but no significant improvement in physical function or speedier return to work, according to a study released Thursday …

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European Regulators Vow Independent Review of Boeing 737 Safety

European regulators assessing changes to Boeing Co.’s grounded 737 Max will scrutinize the jet’s entire flight-control system before a return to the skies can be approved. The review by the European Union Aviation Safety Agency will include the plane’s displays, …

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How Autonomous Vehicles Improve Traffic Flow

A fleet of driverless cars working together to keep traffic moving smoothly can improve overall traffic flow by at least 35 percent, researchers have shown. The researchers, from the University of Cambridge, programmed a small fleet of miniature robotic cars …

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West Virginia AG Files Amended Suit Against State Catholic Diocese Over Abuse

West Virginia’s Roman Catholic diocese failed to publicly disclose decade-old allegations of sexual abuse of a student involving a Catholic school teacher, the state’s attorney general said May 21. Attorney General Patrick Morrisey announced an amended lawsuit against the Diocese …

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Cyber MGU At-Bay Launches Excess Policy for High Revenue Clients

Cyber insurance MGU At-Bay has launched an excess cyber insurance policy for clients with up to $5 billion in annual revenue, with available limits up to $10 million. At-Bay developed this product to fulfill broker demand for access to the …

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AAA Survey: Floridians Concerned for Upcoming Hurricane Season

Floridians are becoming more concerned about hurricane season, after enduring four major storms in the past three years, including a category five last year, according to a survey from AAA. The AAA survey, conducted online of 400 residents living in …

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Appalachian Underwriters Hires 3 to its Commercial Specialty Division

Appalachian Underwriters, Inc. has hired three new underwriters to its Commercial Specialty division. April Cook comes to AUI with background in the underwriting industry, starting as a property and casualty renewal underwriter with an agency and then moving into workers’ …

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New York Reclaims Top Financial Center Title from London

New York once again has bragging rights as the world’s leading financial center, having reclaimed the title from London where Brexit continues to cast a shadow of uncertainty over the UK economy. However, the Big Apple ought to be worried …

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Texas Surplus Lines Brokers Can Now Input Policy Limit Info Into EFS

Agents and brokers can now input policy limit information directly into the Surplus Line Stamping Office of Texas’ (SLTX’s) Electronic Filing System (EFS). A new field has been added to the system to allow input of the highest aggregate limit …

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Texas Would Lose Billions if Another Major Storm Hits Coast, Report Says

Housing sales in Texas would drop, gasoline prices would increase and the state would lose hundreds of billions of dollars in economic output if another major storm struck an unprotected coastline, according to a new study. The joint economic impact …

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Capital Insurance Group in California Officially Acquired by Auto-Owners Insurance

Capital Insurance Group is now a member of the Auto-Owners Insurance group of companies after regulatory approvals were cleared and closing documents were signed this week. CIG in February entered into an agreement to be acquired by Lansing, Mich. based …

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PIIB in California Names Bertolini Future President and CEO

El Dorado Hills, Calif.-based Pacific Interstate Insurance Brokers has named Tiffany Bertolini the future president of the firm. Current President and CEO Larry Manning will be retiring from his current duties on Dec. 31, 2020. Manning will remain with PIIB …

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Lawsuit: Insurer Says No-ah to Kentucky Ark Attraction’s Rain Damage Claim

In the Bible, the ark survived an epic flood. Yet the owners of Kentucky’s Noah’s ark attraction are demanding their insurance company bail them out after heavy rains caused nearly $1 million in property damage. The Ark Encounter says in …

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Arthur J. Gallagher Acquires Indiana’s Cairnstone Financial

Arthur J. Gallagher & Co. has acquired Zionsville, Indiana-based Cairnstone Financial LLC. Terms of the transaction were not disclosed. Founded in 2010, Cairnstone Financial is a benefits consultant offering group health, life, wellness, retirement, disability and dental coverages and services …

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Mississippi Floodgate Reopened as High Water Stands in Delta

A floodgate in the Mississippi Delta has been reopened as large stretches of rural land remain underwater. The Mississippi Levee Board says the Steele Bayou floodgate was opened Thursday. The structure north of Vicksburg helps regulate water levels inside a …

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Oklahoma Insurance Commissioner Puts Hold on Policy Cancellations

Oklahoma Insurance Commissioner Glen Mulready on May 24 issued a bulletin directing insurance companies to keep coverage in effect for storm victims for the next 30 days. The bulletin was issued following severe weather and flooding that swamped Oklahoma last …

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West Virginia to Get $106M in Federal Disaster Funds for 2016 Floods

West Virginia is set to get $106 million in federal disaster relief money. U.S. Sen. Joe Manchin on Thursday said the state would be getting the funds as part of a federal grant. The West Virginia Democrat says the money …

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Bill to Cut Auto Insurance Premiums Passed by Michigan Legislature

Michigan’s Legislature on May 24 passed a landmark bill that would cut the country’s highest auto insurance premiums by letting drivers forego a one-of-a-kind requirement to buy unlimited medical coverage for crash injuries. The votes followed the announcement of an …

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Weekend Tornadoes Rake Oklahoma, Killing 2, Injuring 29

A tornado leveled a motel and tore through a mobile home park near Oklahoma City overnight, killing two people and injuring at least 29 others before a second twister raked a suburb of Tulsa more than 100 miles (160 kilometers) …

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The MEMIC Group Appoints Kerr Director of Organizational Development & Training

Workers’ compensation specialist The MEMIC Group has appointed Kathleen Kerr as director of Organizational Development & Training. In this newly created role, Kerr will execute enterprise wide organizational development aimed at talent management, performance development, diversity and inclusion, change management, …

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New Haven Employee Pleads Guilty to Embezzling More Than $100K

A former New Haven employee has pleaded guilty to embezzling more than $100,000 from the Connecticut city. Daniel Lion, of Hamden, pleaded guilty to a federal wire fraud charge Wednesday. Court documents say New Haven employed the 64-year-old Lion for …

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Driver Involved in Washington Duck Boat Crash Gets $2M Settlement

The driver of a duck boat vehicle in the 2015 deadly crash in Seattle has accepted a $2 million settlement for his claims against the tour company. SeattlePI.com reports Eric Bishop announced the settlement Friday in response to a lawsuit …

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Log Ride Crash at California Amusement Park Leaves 3 Insured

Authorities say three members of a family were injured, one critically, when they were ejected from the log ride at a Southern California amusement park. Fire officials say the ride malfunctioned and one of the log-shaped vessels overturned Saturday at …

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Washington Man Pleads Guilty, 4 Others Charged in Pay-As-You-Crash Cases

One man was sentenced and four people were charged in separate insurance fraud investigations by Washington Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. Paul Albarella, of Kennewick, pleaded guilty in Franklin County Superior Court to first-degree attempted theft. He will …

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ICW Group in California Names Hartline Vice President of Information Technology

ICW Group Insurance Cos. has named Todd Hartline vice president of information technology. Hartline, who will lead the company’s IT function, will be based in the ICW Group corporate headquarters in San Diego and report to John Novak, ICW Group’s …

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Pedestrian Killed After Being Hit by Amtrak Train in Vermont

Police in Northfield, Vermont, are investigating the death of a man who was hit by the passing Amtrak Vermonter passenger train. WCAX-TV reports a resident in the Vermont town was at a pedestrian crossing in downtown Northfield when he stumbled …

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Worker Seriously Injured at Massachusetts Construction Site

A worker has been seriously injured at a construction site in Lynn, Mass. Lynn Deputy Fire Chief Arthur Richard says the 38-year-old man was taken by helicopter Friday morning to a Boston hospital after suffering the injuries. Officials say a …

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Title Insurer First American Says App Defect May Have Exposed Customer Data

U.S. real estate title insurance company First American Financial Corp. said on Friday it had learned of a design defect in one of its production applications that had made possible unauthorized access to customer data. The statement was sent in …

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Carlson Named CEO for Wells Media Group

Wells Media Group Chairman Mark Wells announced that Josh Carlson has been named CEO of Wells Media Group, Inc., effective immediately. Carlson has served as chief technology officer/chief innovation officer of Wells Media Group since 2015. He also serves as …

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Keyless Car Crime Drives 20% Hike in UK Motor Theft Claims in 1st Quarter

The cost of UK motor theft claims paid by insurers in the first quarter rose by more 20% from the same period last year, according to the Association of British Insurers (ABI). The ABI report revealed that the number of …

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Alibaba Plans $20B Listing in Hong Kong to Boost Technology Investments: Sources

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion float in New York. The deal, …

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Texas Windstorm Insurer Withdraws 10% Rate Increase Filing

Texas’ property insurer of last resort for wind and hail along the Texas coast voted at a May 24, 2019, meeting of its board of directors to withdraw a 10% rate increase filed last year that was subsequently put on …

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Valley Insurance Agency Alliance Hires Davis as Marketing Director

Valley Insurance Agency Alliance (VIAA), a network of over 120 independent insurance agencies in Missouri and Illinois, has hired Lauren Davis as director of Marketing. In this position, she will design and execute digital marketing strategies and campaigns for VIAA …

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Issuer Credit Rating Outlook Revised to Stable for Church Mutual Insurance Group

AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of Church Mutual Insurance Co. in …

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China’s Revamp of Anbang Insurance Includes Moving Business to New Company

The Chinese government is taking a major step in its efforts to sell a strategic stake in Anbang Insurance Group Co., the acquisitive insurer it took over last year amid a fraud investigation into its former chairman. Under a plan …

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MillerCoors Wins Partial Victory in Battle Against Bud Light’s Corn Syrup Ads

A U.S. court on Friday barred Anheuser Busch InBev NV, the world’s largest beer maker and brewer of Budweiser brand beers, from using parts of its marketing that said rival Molson Coors Brewing Co.’s MillerCoors used corn syrup in the …

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U.S. Court Clears Swiss Bank UBS in Whistleblower’s $20 Million Libel Suit

A New York appeals court has dismissed a U.S. whistleblower’s $20 million libel suit against Swiss bank UBS, his former employer, concluding that statements the Zurich-based bank made about him were at least “substantially true.” Court documents dated May 21 …

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Insurers and Others Gaining, Banks Losing Ground in Finance, Says European Central Bank Governor

The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard financial …

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U.S. Farmers Face Insurance, Aid Decisions as Persistent Rains Prevent Planting

Kansas farmer Mark Nelson has until Saturday to plant his corn or lose the insurance that protects him from a drop in prices or yield. Instead, he’s hopping on a plane to visit his father in Chicago. Nelson is now …

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China Financial Regulator Sees ‘Very Limited’ Impact from Trade War with U.S.

The U.S. escalation of trade tensions won’t solve any of its problems but will create volatility in global markets and hurt the world economy, according to China’s top financial regulator. Higher U.S. tariffs will have a “very limited” impact on …

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State Farm to Cut Auto Rates by 5.5% in West Virginia

State Farm Mutual Automobile Insurance Co. said it plans to cut overall personal auto rates in West Virginia by 5.5%. The expected total statewide impact for State Farm Mutual by this rate decrease in West Virginia will be approximately $17.7 …

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Glatfelter Updates, Expands Workers’ Compensation Product

Glatfelter Program Managers has unveiled a new workers’ compensation program now available in most states. The new program gives clients and agents access to Glatfelter’s industry-specialized risk management team and online safety library, medical management services to help identify hazards …

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Oklahoma Will Get $85 Million from Drug Firm Teva to Avoid Trial Over Opioid Marketing

Teva Pharmaceutical Industries Ltd. agreed to pay $85 million to settle an Oklahoma lawsuit claiming that illegal marketing of its opioid painkillers contributed to a public health crisis in the state. The deal, announced Sunday, was reached just as the …

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Opioid Litigation Tests Public Nuisance Claim Theory

Determining who foots the bill for America’s growing opioid epidemic may depend on how well the state of Oklahoma deploys a high-risk legal strategy this week against Johnson & Johnson and Teva Pharmaceutical Industries Ltd. At least 42 states and …

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GOP Lawmaker Sidetracks Disaster Bill Including Flood Insurance Extension

A single Republican House member temporarily blocked fast-track passage Friday of a $19 billion disaster-aid plan, likely meaning lawmakers will vote when they return in early June from a week-long recess. Freshman Representative Chip Roy of Texas objected to the …

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Watchdog Report: North Carolina Delayed Spending Federal Hurricane Matthew Funds

Administrative mistakes and a lack of expertise caused delays in North Carolina’s spending of federal funds for Hurricane Matthew recovery, according to a report released Monday from the General Assembly’s government watchdog agency. The non-partisan Program Evaluation Division also found …

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Recovery Begins in Missouri’s Capital After Tornado Sweeps Area

A tornado tore apart buildings in Missouri’s capital city as part of an outbreak of severe weather across the state overnight that left at least three people dead and dozens injured. The National Weather Service confirmed that the large and …

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Speedy Reactor Cleanups May Carry Both Risks and Rewards

Companies specializing in the handling of radioactive material are buying retired U.S. nuclear reactors from utilities and promising to clean them up and demolish them in dramatically less time than usual – eight years instead of 60, in some cases. …

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Oklahoma’s Opioid Trial Against Drugmakers J&J, Teva Set to Begin

Gail Box vividly remembers the day in May 2011 when she first learned her 22-year-old son Austin, a University of Oklahoma linebacker, was abusing opioid painkillers: It was the day he died of an overdose. In a few months he …

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GuideOne in Iowa Names Pearson Sr. VP, Chief Underwriting Officer

West Des Moines, Iowa-based GuideOne Insurance has appointed Doug Pearson senior vice president and chief underwriting officer. In this role, Pearson is responsible for niche product management, home office underwriting, underwriting compliance and business systems. Pearson brings extensive underwriting and …

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CFC Designs New Broker Platform for Its Cyber Insurance Products

Specialist insurer CFC is debuting a new broker platform designed to facilitate the sale of its cyber insurance products to small- and medium-sized businesses. The idea is that London, UK-based company’s cyber insurance platform will enable brokers to instantly access …

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Alaska City Votes to Adopt Climate Action Plan

The Anchorage Assembly has adopted a climate action plan setting goals for the Alaska city. Alaska Public Media reported that the city officials voted this week to adopt the 100-page document outlining aims such as reducing carbon emissions by 80 …

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Forecasters Say Hawaii May Have Busy Hurricane Season

Hawaii and the Central Pacific could experience more storms than normal during this year’s hurricane season. The National Oceanic and Atmospheric Administration predicted Wednesday there will be five to eight named tropical cyclones in the region from June 1 through …

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Arizona Claim Seeks $45M for Incapacitated Woman Who Gave Birth

Lawyers for an incapacitated woman who later gave birth at a Phoenix long-term care facility have filed a $45 million notice of claim against the state. The precursor to a lawsuit says the woman allegedly was raped repeatedly before giving …

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FAA Chief ‘Very Encouraged’ by Talk with World’s Aviation Regulators on Grounded Boeing 737

The chief U.S. aviation regulator said he was very encouraged by a one-day discussion with his counterparts from around the world on the steps needed to return Boeing Co.’s grounded 737 Max jetliner to service, including the need for additional …

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As Many as 8 Hurricanes Forecast for ‘Near Normal’ 2019 Hurricane Season

As many as 8 hurricanes may form in the Atlantic in 2019, a “near normal” season following two years of storms that have left a trail of death and destruction in the Caribbean and U.S. coast. Nine to 15 named …

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VOOM Raises $5M to Expand On-Demand Insurance for Episodic Mobility Usage

VOOM, the Tel Aviv-based on-demand, telematics-based insurance platform for drones and other specialized mobility services such as e-scooters, announced it has closed a $5 million Series A funding round. The round was led by Arbor Ventures with participation from returning …

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Pianist Injured in Massachusetts Building Facade Collapse Files Lawsuit

An aspiring concert pianist whose career was likely ended when she lost a finger and suffered other severe injuries when a Boston restaurant’s brick and concrete facade collapsed on her has sued. The Boston Globe reports that the suit filed …

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Big I New York Elects Cofini as Board Chair

Big I New York, the state’s independent insurance producer trade association, has elected John Cofini as its chair of the board for the 2019-2020 term. Cofini was sworn in during a May 21 ceremony at Big I New York’s Go …

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Rochester Property Owner Indicted for Defrauding Banks, Insurance Companies

Prominent upstate New York landlord Robert Morgan is charged in a 114-count federal indictment with defrauding banks and insurance companies out of millions of dollars by inflating property values and insurance claims while managing his expansive real estate portfolio. The …

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UK Prime Minister to Resign on June 7, Paving Way for Possible No-Deal Brexit

Fighting back tears, Theresa May said on Friday she would quit, setting up a contest that will bring a new British prime minister to power who could pursue a cleaner break with the European Union. May’s departure will deepen the …

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Ransomware Attacks Skyrocketed in Q1: Beazley

Ransomware attacks skyrocketed in the first quarter of 2019, according to the Beazley Breach Response (BBR) Services team, which reported a 105% increase in the number of ransomware attack notifications against clients compared to Q1 2018. In Q1 2019, the …

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Generali to Sell Life Run-Off Portfolio of UK Branch to Reinsurance Group of America

Generali has signed an agreement to sell the life run-off portfolio of its UK Branch to a subsidiary of Reinsurance Group of America Inc., the St. Louis, Mo.-based life and health reinsurance company. The run-off portfolio, which consists of mainly …

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Deadly African Swine Fever Now `Endemic’ in Two Regions of China: UN

China’s attempts to control African swine fever have been insufficient to stem further spread of the disease, with the deadly pig contagion now endemic in two regions, a United Nations group said. The virus that causes the disease is entrenched …

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State Auto Innovation Unit: $25M; 5 Insurtechs; 18 Months

State Auto Labs, the innovation arm of the State Automobile Mutual Insurance Co., says in the 18 months after launching its $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry, it has invested in five …

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Auto Insurance Drives Personal Lines Improvement

U.S. personal lines insurance saw strong premium growth of 8% in 2018 and the sector’s statutory combined ratio of 99% for 2018 represented the market’s best results since 2013, according to a new special report from Fitch. “Strong performance was …

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Managing Sexual Harassment Risk in the #MeToo Era

Since October 2017 when the #MeToo era began and sexual harassment claims against Hollywood mogul Harvey Weinstein were revealed, insurers have seen an uptick in not only the number but also the size of sexual harassment claims. “[W]e’re going into …

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Weinstein, Accusers Reach Tentative $44 Million Deal, Reports WSJ

Harvey Weinstein, women who accused him of sexual misconduct, his former film studio’s board members and the New York attorney general’s office have reached a tentative $44 million deal to resolve lawsuits and compensate alleged victims of the Hollywood producer, …

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The Hanover Adds Watercraft Coverage to Personal Lines Product Suite

The Hanover Insurance Group, Inc. has expanded its suite of personal lines insurance products to include a new watercraft insurance offering. As part of the new offering, The Hanover’s watercraft product will offer: Broadened range of coverage for watercrafts including …

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Gulfstream Insurance Co. of Florida Appoints Natherson President, CEO

Gulfstream Property and Casualty Insurance Co. has appointed Ronald E. “Nate” Natherson, Jr. as president and CEO. Natherson joins Gulfstream having previously served as chief operating officer for Southern Oak Insurance Co. in Ponte Vedra Beach, Fla. He has more …

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Florida Governor Signs AOB Reform Bill; Law to Take Effect July 1

Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …

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Cost of Flood-Prone Home Buyouts in Missouri, Elsewhere: $5B and Rising

The residents of the small riverside town of Mosby, Missouri, have become accustomed to watching floods swamp their streets, transform their homes into islands and ruin their floors and furniture. Elmer Sullivan has replaced his couch, bed and television. He’s …

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Oklahoma Senate OKs Workers’ Comp Reforms; Bill Goes to Governor

The Oklahoma Senate has approved legislation that makes changes to Oklahoma’s workers’ compensation system that lawmakers say will preserve and strengthen reforms adopted in 2013. An increase in benefits paid to injured workers is included among the provisions of House …

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Mississippi River’s Morganza Floodway May Be Opened for Third Time in History

A major barrier that keeps the Mississippi River in its current path may be opened for just the third time in its history, potentially flooding a large part of rural Louisiana. Concern is growing that heavy rains will cause the …

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Gorst & Compass in California Names Mulford Senior Transportation Broker

Chatsworth, Calif.-based Gorst & Compass has named Kristi Mulford a senior transportation broker/underwriter. Mulford, who is based in San Marcos, has 18 years of commercial auto insurance experience. She was previously a broker with R.E. Chaix & Associates. She was …

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Congress Agrees on $19 Billion Disaster Aid Bill with Flood Insurance Program Brief Extension

Lawmakers said that they agreed to a $19.1 billion disaster-aid bill after months of disagreement and that President Donald Trump said he will sign it. Senate Appropriations Chairman Richard Shelby called the agreement a “good deal.” He added that he …

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At Least 3 Dead in Central US Storms

A flooded Oklahoma on Wednesday was deluged once again following days of severe weather that’s blamed for at least three deaths after also battering Iowa, Kansas and Missouri, “The biggest concern is more rain. I mean, there’s more rain in …

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Texas Insurance Department: Continuing Ed Service for Agents, Adjusters Improved

A year ago, it took months for insurance agents and adjusters to get continuing education transcripts, course credit and other information from the Texas Department of Insurance. Today, it takes about two weeks, according to the state agency. The improvement …

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Texas Environmentalists Plan Pollution Lawsuit Against Valero

Three Texas environmental groups have notified Valero Energy Corp of plans to file a lawsuit under the U.S. Clean Air Act for pollution at the company’s Port Arthur, Texas, refinery, the organizations said. Environment Texas, the Sierra Club and the …

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Attorneys Say Ohio State Must Reveal Who Knew About Abuse by Team Doctor

Administrators at Ohio State University should release the names of all coaches, trainers and personnel who knew of but failed to act on complaints about a now-dead team doctor who sexually abused male students for nearly two decades, said attorneys …

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South Dakota Judge Sides With Liberty Mutual in Bad Faith Dispute

A federal judge in South Dakota has dismissed part of a lawsuit filed by a couple who had to tear down their Sioux Falls house after a long-running dispute with their neighbors. Judge Roberto Lange recently granted Liberty Mutual Insurance’s …

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Surplus Lines Insurance Bills Sent to Texas Governor

Legislation impacting the surplus lines insurance industry in Texas have been passed by state lawmakers and are headed to the governor’s desk, the Surplus Lines Stamping Office of Texas (SLTX0 reported. Both bills, HB 1306 and HB 1940 support the …

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Woman Who Claimed Abuse Was Ignored Reports Gets $1.7M

Washington state has agreed to pay $1.7 million to a woman who claimed social workers failed to investigate reports of neglect and sexual abuse three decades ago. The Seattle Times reported a judge signed off on the settlement to the …

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Colorado Refocuses Rules on Safety, Won’t Halt Drilling

Colorado officials said that they had no plans to stop energy companies from drilling for oil and gas while regulators overhaul state rules to make health, safety and the environment their top priority. Dan Gibbs, chief of the state Department …

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Alaska Air Carrier Suspends Operations After 2nd Crash

An Alaska air carrier involved in two deadly floatplane crashes in a week has voluntarily suspended operations, federal officials said. The halt of flightseeing and commuter flights is in place indefinitely, according to the Federal Aviation Administration. The action comes …

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Washington Couple Charged with Auto Insurance Fraud

Brittany Jones and Steven Jones, of Marysville, Wash., each were charged with one count of filing a false insurance claim in Snohomish County Superior Court on May 14. The charges stem from an auto insurance claim and follow an investigation …

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EPA Begins Rewrite of Rules on Costs, Benefits of Environmental Regulations

The Trump administration is planning to write new rules for how it weighs the human costs and benefits of environmental regulations, a move that could make it harder for future presidents to stiffen limits on pollution and combat climate change. …

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Growth in Construction, Freight Industries Has Been Good News for Inland Marine Insurance

The inland marine insurance segment has grown steadily in the past decade in tandem with increases in construction spending and the transport of goods, with direct premiums written nearly doubling to $24.5 billion in 2018 from $13.3 billion in 2009, …

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Report Says Many New York City Uber, Lyft Drivers Fail to Respond to Recalls

One out of six Uber and Lyft drivers in the New York City and Seattle areas are driving vehicles with outstanding recalls, according to Consumer Reports. But taking a taxi or limousine isn’t necessarily a safer option: nearly a quarter …

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AXA XL Names Chiusano to Lead North America Property Insurance Team in Northeast

AXA XL, a division of AXA, has named Raymond Chiusano to lead its North America Property Insurance team’s Northeast region, based in New York. Chiusano is assuming the role currently held by Joseph Moylan, who announced his planned 2020 retirement. …

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Massachusetts’ Sullivan Insurance Group Hires Russell as a Principal

Sullivan Insurance Group has hired Peter Russell as a principal. Russell has worked in the insurance industry for more than 30 years and is responsible for the management of client insurance and risk management programs, as well as new business …

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Jimcor Agency Hires Burke in Massachusetts

Jimcor Agency Inc., a Montvale, N.J.-based independent managing general agent and insurance wholesaler, has hired Joshua Burke in its Hopkinton, Mass., location as it seeks to expand its footprint in the New England region. Prior to joining Jimcor Agencies, Burke …

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‘Phone Becomes Car’ as Ride-Hailing Services Promote Vehicle Sharing Over Ownership

Ride-hailing apps like those of Uber Technologies and Lyft Inc. are expected to alter the state of car ownership towards subscription-based services and shared ownership, auto industry experts said at a conference on Wednesday. At the annual Collision Conference in …

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Parties Differ on Data Privacy Legislation Over Liability, Duty of Care

Three Democratic senators helping write a privacy bill are seeking to allow individuals to sue companies for mishandling their data, according to Republican Senator John Thune. The measure would raise the burden on businesses and could imperil Congress’s ability to …

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Bankruptcy Judge Approves PG&E $105 Million Assistance Fund for Wildfire Victims

PG&E Corp. may set up a $105 million housing fund for victims of 2017 and 2018 wildfires in California, which set records for devastation and were blamed on the utility’s equipment, the judge overseeing the bankruptcy of the investor-owned power …

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EU’s Landmark Data Privacy Law, GDPR, Already Is Providing a Global Standard

A landmark European privacy law is making waves worldwide a year after it came into force, fundamentally changing the way data are handled as Facebook, Apple and Google face increasingly frequent complaints. Adopted on May 25 last year, the General …

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Feinberg Named Mediator for Bayer Roundup Liability Settlement

A U.S. judge on Wednesday appointed prominent attorney Kenneth Feinberg as mediator for court-mandated settlement talks in the federal litigation over allegations that Bayer AG’s glyphosate-based Roundup weed killer caused cancer. Feinberg has been instructed to meet with lawyers for …

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Clyde & Co. Launches Connected Parametric Insurance Contract

Global law firm Clyde & Co has launched an off-the-shelf connected parametric insurance contract for use by insurers through its smart contract consultancy, Clyde Code. “A connected contract is a digital agreement which links external software systems and data sources …

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Argo Shareholder Voce Ends Battle over Board Members, Alleges ‘Underhanded Tactics’

An activist Argo shareholder that had accused the insurer of extravagant spending and other corporate missteps has ended its battle to nominate a slate of new board members. Voce Capital Management said on May 21 it has withdrawn its nominations …

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Verisk Reorganizes Geomni Business to Enhance UK and Europe Solutions

Verisk’s GeoInformation Group, a provider of geospatial products, has been folded into Verisk’s Geomni business and renamed Geomni UK. The addition of Geomni UK to Verisk’s Geomni business will enhance its offering for customers in the UK and Europe, said …

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Liberty Mutual Reinsurance Launches Operation Using Lloyd’s Mexico Platform

Liberty Mutual Reinsurance the reinsurance arm of Liberty Specialty Markets, announced it has launched a reinsurance operation under Lloyd’s registration in Mexico to serve clients in Mexico and Central America. The operation will be headed up by Rosa Flores, general …

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Reinsurer SCOR Acquires Fund Manager Specializing in Insurance Linked Securities

French reinsurer SCOR said it had agreed to buy 100% of Coriolis Capital, an asset manager specialized ininsurance-linked securities, for an undisclosed amount. Coriolis Capital invests mainly in natural disaster bonds, options, collateralized reinsurance and climate derivatives. SCOR said the …

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Allianz Invests in Canadian Robo Adviser Wealthsimple, Leading $75M Funding Round

Wealthsimple, the Canadian robo adviser company controlled by Power Financial Corp., is gaining another behemoth shareholder as it slowly gears up for an initial public offering. Allianz X, the tech investment fund of Munich-based insurer and asset manager Allianz SE, …

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AXA XL Promotes Gauder in Illinois to Lead North Central Region

AXA XL has promoted Brian Gauder to lead its North Central region out of Chicago, Ill. AXA also named Raymond Chiusano to lead its North America property insurance team’s Northeast region out of New York. Chiusano is assuming the role …

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Sand-Bag Barrier in Mississippi Overwhelmed by River Flooding

Floodwaters overwhelmed a miles-long sandbag barrier over the weekend, drenching another community in the southern end of the Mississippi Delta. Volunteers, prisoners and others had stacked 100,000 sandbags and more than 600 wire flood-control baskets, trying to keep water out …

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HSB Launches Cyber Insurance Endorsement for Farmers

Hartford Steam Boiler (HSB) has launched a new HSB Farm Cyber Insurance product designed to protect farmers and farm technology from hackers, malware and other cyber attacks. According to James Hajjar, who leads the cyber practice for HSB’s reinsurance client, …

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Mississippi Seeks to Reduce Rising Fire Deaths with Free Smoke Alarms

The Mississippi Fire Marshal’s office is giving away smoke alarms to try to reduce fire deaths. Mike Chaney is the state insurance commissioner and fire marshal. He says having a smoke alarm can cut the risk of fire death in …

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North Carolina Department of Insurance Releases Smartphone App for Agents

The North Carolina Department of Insurance has released a smartphone app for insurance agents offering information such as educational opportunities, NCDOI agent services contact info, and agent notifications from the department. The new MyDOi smartphone app went live May 22, …

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Willis Towers Watson Appoints 8 to Florida Risk Management Operations

Willis Towers Watson has made a series of personnel appointments across its Corporate Risk and Broking (CRB) operations in Florida. CRB’s has focused on delivering innovative products to clients with an emphasis on the real estate, construction, health care and …

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Tennessee Joins Federal Lawsuit Against Generic Drug Makers

Tennessee has joined a federal lawsuit in Connecticut against 20 generic drug manufacturers, alleging manipulation of prices. State Attorney General Herbert Slatery’s office says in a release that the drugs treat diseases and conditions including basic infections, diabetes, cancer, epilepsy, …

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Kentucky Marina Damaged by Large Fire

A large fire has damaged a Lake Cumberland marina in southern Kentucky. News outlets report the fire at Conley Bottom Resort in Monticello started around 2 a.m. Monday. Firefighters say no one was injured. Marina co-owner Freddie Piercy told WKYT-TV …

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Charter Bus Collision in Florida Injures 34

Authorities say two charter buses carrying Florida children with learning disabilities crashed, sending 34 people to a hospital with minor injuries. The Tampa Bay Times reports 91 children and seven adults were traveling in the buses that collided Friday in …

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What Might Happen If Congress Fails to Renew Terrorism Reinsurance Program

The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is set to expire in Dec. 31, …

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Testimony Ends in Texas Suit over Harvey-Related Overflow Dams, Floods

Testimony has ended in the lawsuit by some Texas residents seeking U.S. government compensation after their land flooded when two federally owned reservoirs overflowed during Hurricane Harvey. Testimony wrapped up Friday in Houston, and Judge Charles Lettow of the U.S. …

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The Hilb Group Acquires The Keane Insurance Group in Missouri

The Hilb Group LLC has acquired Missouri-based The Keane Insurance Group Inc. The transaction became effective May 1. Terms were not disclosed. KIG’s associates and John Keane, the agency leader, are joining THG under their existing name and will continue …

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McDonald’s Workers in Chicago Asking OSHA to Look into Pattern of Violence

Every 36 hours on average, American local news outlets deliver a new report on violence at a McDonald’s. A group of employees in Chicago say workers bear the brunt of such incidents, enough to constitute a pattern of regular on-the-job …

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Small Quake Confirmed off Oregon’s Pacific Coast

The U.S. Geological Survey confirmed a magnitude 3.7 earthquake hit along Oregon’s Pacific coast. The agency says the earthquake struck a spot 1.3 miles southwest of Rose Lodge, a town of about 1,900 people, at 9:23 a.m. Sunday. The earthquake …

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New Hampshire Governor Signs Workplace Safety Bill

New Hampshire Governor Chris Sununu was surrounded by the family of a deceased highway department worker as he signed a bill aimed at improving workplace safety for New Hampshire’s public sector employees. Tom Wooten, of Belmont, was working for the …

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University of Alaska, Former Professor Sued over Sexual Misconduct Allegations

A lawsuit has been filed against a retired University of Alaska Anchorage anthropology professor who is banned from campus over sexual misconduct allegations by multiple women. David Yesner is named in the federal lawsuit filed Wednesday along with The University …

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Hawaii Condo Owners Suing Building Contractor

Members of a Hawaii condominium association have filed a lawsuit saying the building is unsafe and uninhabitable. The Honolulu Star-Advertiser reported that the lawsuit filed by owners of units in the 3-year-old Waiea tower in the Kakaako neighborhood of Honolulu …

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California Legislature Mulling Electric Scooter Regulation

The California Assembly has approved new rules for electric bikes and scooters. Businesses like Bird and Spin have deployed scooters to cities across California and the country in recent years. Often local governments have not set up permits or regulations …

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Employee Charged with Stealing $900K from New Jersey Insurance Broker

A former accounting specialist in the Ridgefield Park, N.J., office of an insurance broker was arrested and charged with allegedly defrauding her employer of approximately $900,000, Acting U.S. Attorney William E. Fitzpatrick announced. Violeta McGough, 55, of Bergenfield, N.J., has …

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WCRI: Average Total Cost of Penn. Workers’ Comp Claims Highest of Studied States

The average total cost of a Pennsylvania workers’ compensation claim is among the highest of 18 states studied, with litigation costs a key driver of higher overall benefit delivery expenses, according to a recent study by the Workers Compensation Research …

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Arthur J. Gallagher & Co. Acquires RPA, Innovative Coverage Concepts

Arthur J. Gallagher & Co. has acquired Parsippany, N.J.-based RPA Insurance Services LLC and Innovative Coverage Concepts LLC. RPA Insurance Services is a provider of insurance and risk management services to the restaurant and hospitality industries. It operates from offices …

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25 New Sexual Harassment Complaints Brought Against McDonald’s

McDonald’s Corp. was accused on Tuesday in 25 new lawsuits and regulatory charges of condoning sexual harassment in the workplace and retaliating against employees who speak up. The cases announced by the American Civil Liberties Union (ACLU), the labor group …

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AGCS Offers Crisis Management Response Services with Its Pollution Liability Cover

Allianz Global Corporate & Specialty (AGCS) announced it is offering expanded emergency response services as part of its Environmental Impairment Liability (EIL) coverage when pollution and/or contamination events occur. AGCS has formed strategic partnerships with GM Consultant (global) and HETI …

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Generali in Early Negotiations to Buy MetLife’s Central European Assets: Sources

Assicurazioni Generali SpA is in early talks to buy the Central European assets of MetLife Inc. as the Italian insurer seeks to expand through acquisitions in high-growth markets, according to people with knowledge of the matter. The business may be …

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Chemical Multinationals Must Stop Cutting Corners in Sourcing: Report on China Blast

A prominent Chinese environmental group has called on chemicals multinationals to stop “cutting corners” by outsourcing business to Chinese suppliers that violate safety regulations after an investigation into a deadly explosion at a factory in March. In a new study, …

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Fairfax Announces Death of CFO Bonham; Varnell Named Interim CFO

Fairfax Financial Holdings Ltd. announced that, David Bonham, vice president and chief financial officer of Fairfax, died suddenly this past weekend. “The entire Fairfax family mourns the sudden and unexpected loss of our dear friend and partner, Dave Bonham,” said …

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Oil Tankers in the Persian Gulf Face Highest Risk Since 2005

Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. The Joint War Committee of London’s Lloyd’s Market Association said Friday that it would expand its so-called “listed areas” — those regions …

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Armour Group Appoints Parry from Lloyd’s as Group Chief Financial Officer

Bermuda-based Armour Group Ltd. announced the appointment of John Parry as group chief financial officer. Parry will assume his new position in June and report directly to the group executive committee. A seasoned senior financial services executive with extensive insurance …

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Wood-Panel Producer Norbord Halts Mill Production Following Alberta Wildfires

Norbord Inc said on Tuesday it suspended production at its oriented strand board (OSB) mill in High Level, Alberta, to comply with evacuation orders following nearby wildfires. More than 4,000 people from High Level and the Bushe River First nations …

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Instec Promotes Fagan to President of Operations

Naperville, Illinois-based Instec, a provider of insurance software for commercial program and specialty writers, has promoted Mike Fagan to president of Operations. Most recently, Fagan was vice president of Engagement and Product Management. In his new role, Fagan will lead …

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Valentine Named Sr. VP, Chief Insurance Officer for Farmers Alliance Companies

Aaron Valentine has been named senior vice president, chief insurance officer for the Farmers Alliance Companies in McPherson, Kansas. This is a new position at the companies, added to ensure the proper organizational structure to support the companies’ future. Valentine …

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Company Cited, Fined $106K After Employees Injured in Nebraska Trench Collapse

Federal safety officials cited an excavation company after two employees suffered serious injuries when a trench collapsed at a construction site in Lincoln, Nebraska. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) also proposed penalties of $106,078 …

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Brinson, Myers, Milvo Named to Texas Surplus Lines Office Board

Teri Brinson, Randy Myers and Leslie Milvo have been named to the Surplus Lines Stamping Office of Texas (SLTX) board of directors, with three-year terms set to run through Dec. 31, 2021. Brinson is vice president at LP Risk Inc. …

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Texas House OKs Bill to Spend More Than $3B for Flood Control Projects

Nearly two years after Hurricane Harvey ravaged the Texas coast, the Texas House approved legislation that would pull more than $3 billion from the state’s rainy day fund to help pay for flood control projects statewide. The House version of …

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Johnson & Johnson Hit with $25 Million Talc Verdict; Also Cleared by Another Jury

Johnson & Johnson was ordered to pay at least $25 million to a woman who said she contracted a rare asbestos-related cancer through decades of daily use of J&J’s Baby Powder or its other talc product, Shower to Shower. The …

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Boeing Sued in U.S. for $276 Million Over Ethiopian Crash by French Widow

A French woman whose husband died in the crash of a Boeing 737 MAX airliner in Ethiopia has filed a U.S. lawsuit against the planemaker, seeking at least $276 million in damages. The crash of Ethiopian Airlines flight 302 in …

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Only 55% of AIG Shareholders OK $21 Million Compensation for CEO Duperreault

American International Group Inc. said shareholders approved a $21 million pay package for Chief Executive Officer Brian Duperreault by only a narrow margin during the company’s annual meeting on Tuesday. A non-binding resolution to endorse the firm’s executive compensation received …

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Selective Insurance Launches Auto Recall Alert System

Selective Insurance Company of America, the lead insurance company of Selective Insurance Group, Inc., is working with its independent insurance agency partners to help customers become aware of recalls affecting their vehicles through notifications from its new Recall Alert System. …

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Baldwin Promoted to CEO of Florida-Based Baldwin Risk Partners

Baldwin Risk Partners (BRP), a Tampa, Fla.-headquartered insurance distribution and consulting holding company, has appointed Trevor Baldwin as chief executive officer. He will take over for Lowry Baldwin, who will maintain an active role in the organization as chairman and …

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North Carolina Insurance Fraud Round-Up: April

The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of April 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North Carolina Insurance Commissioner Mike Causey, fraud costs North Carolinians …

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Hiscox Enhances Security Incident Response Product for Businesses

Hiscox has enhanced its Security Incident Response (SIR) product to provide additional protection for ‘business integrity risks’ including corruption and fraud. The new SIR policy also includes cover for expenses incurred by a business when dealing with an insured event. …

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West Virginia Fines Pipeline Builder $266K for Environmental Violations

The West Virginia Department of Environmental Protection and Mountain Valley Pipeline have agreed the latter will pay $266,000 for environmental violations dating back to April 2018. The Charleston Gazette-Mail reports the consent agreement dated April 19 was made public last …

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Tennessee Governor Appeals Federal Denials of Individual Flood Aid

Tennessee Gov. Bill Lee has filed an appeal after the federal government denied his request for individual aid for residents in five counties battered by flooding and severe storms. A news release from the Tennessee Emergency Management Agency says the …

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Texas Moves Against Unlicensed Georgia Firm Selling Health Insurance Plans

The Texas Department of Insurance (TDI) has filed an action to stop Georgia-based Aliera Healthcare from selling health insurance in Texas without a state license. The public hearing will begin at 9 a.m. May 28 at the State Office of …

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Texans in Congress Push for Release of Billions in Federal Harvey Aid

After urging the Trump administration for over a year to release billions in long-awaited disaster relief funding to Texas and other disaster-affected states to no avail, Texans in Congress are now taking more aggressive measures. This week, U.S. Reps. Randy …

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Missouri Lawmakers Act to Relax Helmet, Vehicle Safety Inspection Laws

Missouri lawmakers have given final approval to a measure that could relax a pair of roadway safety provisions. The legislation sent to Gov. Mike Parson on Friday would do away with the need for vehicle safety inspections on an estimated …

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Quicken Loans’ Gilbert Starts Ballot Drive to Cut Michigan Auto Premiums

Billionaire businessman Dan Gilbert is starting a ballot drive as a “failsafe” in case Michigan’s Republican-led Legislature and Democratic Gov. Gretchen Whitmer don’t enact legislation to cut the country’s highest auto insurance premiums. Quicken Loans vice president of government affairs …

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Liberty Specialty Markets Taps Kunzer to Lead New Trade Credit Product Line

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, appointed Paul Kunzer to the role of head of Trade Credit Multi-Buyer and Excess of Loss (XOL). Based in Chicago, Kunzer will lead the development of LSM’s new Trade Credit offering …

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Storm-and-Twister Threat Moves to Arkansas-Missouri Farm Belt

The heavy rain, high winds and hail that swept across the southern Great Plains is now headed to Arkansas and Missouri, where farmers are already struggling to get crops in the ground in a brutally wet spring. The massive outbreak …

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P/C Insurance Industry’s Net Income Up 24% in Q1, Reports A.M. Best

The U.S. property/casualty industry posted net underwriting income of $4.2 billion in first-quarter 2019, a 24.0% increase from the same period in the previous year, according to preliminary financial results. According to Best’s Special Report, “First Look—3 Month Property/Casualty Financial …

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Nevada Reaches Tentative Settlement Homeowners and Insurers in Wildfire Suit

The state of Nevada has reached a tentative settlement with dozens of homeowners and insurance companies that filed an $80 million negligence lawsuit after a fire destroyed 24 homes when strong winds reignited a smoldering prescribed burn south of Reno …

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New Mexico Mayor’s Plan Would Bill Drivers for Emergency Costs

A New Mexico mayor has proposed billing drivers involved in car accidents resulting in hazardous material cleanup or victim extractions. The Albuquerque Journal reported that Mayor Tim Keller’s budget proposal for fiscal year 2020 includes a new “cost recovery” channel …

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U.S. Post Office Testing Driverless Trucks Between 2 Cities

The United States Postal Service is going to put mail on self-driving trucks. Starting on Tuesday morning, letters and packages moving between Phoenix and Dallas will travel on customized Peterbilt trucks run by TuSimple, an autonomous startup based in San …

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Monarch E&S Insurance Services in California Names Romano Vice President

Burbank, Calif.-based Monarch E&S Insurance Services hired Matt Romano as vice president to launch the firm’s flood practice. Romano for the last seven years has worked both as a retailer and wholesaler specializing in private market flood insurance. He was …

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Computerized Eyewear Looking for Success in Factories and Field

Remember Google Glass? The vaunted debut of the company’s computerized eyewear six years ago was one of Silicon Valley’s more spectacular flops. Deemed too awkward and pretentious, early users were disparaged as “glassholes” by a critical public. Parent company Alphabet …

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Zurich North America Names Winters Head of U.S. Commercial Insurance Sales

Brian Winters has been appointed head of Sales and Distribution, U.S. Commercial Insurance, for Zurich North America. Zurich said the appointment is part of its effort to strengthen relationships with customers and brokers. Toward that end, Zurich is also integrating …

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Supreme Court Sends Merck Warning Label Case Back to Lower Court

The U.S. Supreme Court on Monday gave Merck & Co. a new opportunity to avoid lawsuits accusing the company of failing to properly warn patients of debilitating thigh-bone fractures from taking its osteoporosis drug Fosamax, throwing out a lower court …

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Facing Complaints, McDonald’s Outlines New Anti-Harassment Policy

McDonald’s Corp., in the face of criticism for its handling of harassment complaints, said it’s training workers to deal with the issue and is starting a hotline for victims. In a letter responding to an inquiry from U.S. Senator Tammy …

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New York Firefighters Seek Insurance Payments for Ambulance Funding

Firefighters from around New York state are asking state lawmakers to change the law so fire departments can recoup the cost of emergency medical calls from patient insurance plans. Under current law, volunteer ambulance corps and private ambulance companies can …

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Kaufman Dolowich & Voluck Hires Stroili in New York City

Kaufman Dolowich & Voluck LLP (KDV), a national law firm, has hired Peter A. Stroili as an insurance coverage partner in its New York City office. Stroili has 30 years of experience in insurance coverage, professional liability and directors and …

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Massachusetts Restaurant Customers Warned of Potential Hepatitis Exposure

Massachusetts health officials say a seafood restaurant worker has tested positive for hepatitis A and are warning customers they may have been exposed to the disease. The state Department of Public Health and local health officials are urging customers who …

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Arthur J. Gallagher Buys Minority Stake in India’s Edelweiss Insurance Brokers

Arthur J. Gallagher & Co. announced it has purchased a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a wholly owned subsidiary of Edelweiss Group, the Indian diversified financial services conglomerate. The deal is subject to approval by the Insurance …

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Sompo International Taps Pützer from Amlin as Head of Financial Lines in Germany

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced that Udo Pützer has joined the company’s European insurance platform as head of Financial Lines Insurance in Germany. Pützer is based in the company’s Düsseldorf office …

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China’s Ant Financial Provides Health Coverage to 65 Million Clients for Pennies a Month

Ping An Insurance (Group) Co. employed about 1.4 million people to peddle policies last year. Yet it’s Jack Ma’s newest online disruptor that is stealing the show –- with 50 workers and visions of serving 300 million customers. Ma’s Ant …

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Nigeria Raises Insurers’ Minimum Capital Requirement

Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while it is effective immediately for the issue of …

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Vale’s Gongo Soco Mine Tailings Dam Faces 10%-15% Risk of Collapse: Brazil Official

Brazilian miner Vale‘s tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state’s environment secretary said on Monday. The dam at Vale‘s Gongo Soco mine is about 40 …

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MS Amlin Buys Equity Stake in Specialist Reinsurance MGA Envelop Risk

MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial intelligence-driven cyber risk modeling. The investment sees MS Amlin take a minority strategic stake …

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UK Financial Services Industry Will Emerge Stronger from Brexit: Gov’t Ministers

Britain’s finance industry will emerge stronger from Brexit, remaining one of the world’s top financial centers, ministers in Prime Minister Theresa May’s government forecast on Monday. Since Britain voted to leave the European Union three years ago, London’s financial services …

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State Farm Cuts Homeowners Rates by 14.4% in Florida

State Farm has reduced its homeowners insurance rates by an average of 14.4 percent in Florida for current and future home insurance customers. The new rates went into effect May 15, 2019 for new business and July 1, 2019 for …

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Country Star Travis Tritt’s Tour Bus Involved in Fatal Wreck in South Carolina

Country music star Travis Tritt says his tour bus was “sideswiped” in a multi-vehicle crash that left two people dead in South Carolina. News outlets report the crash occurred early Saturday on Highway 22 in Horry County. One person suffered …

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Insurance Agency Tragedy: 3 Hilb Group Executives Die in Plane Crash

The Hilb Group, headquartered in Richmond, Va., has confirmed that three regional executives died in a plane crash near Roatán, Honduras, on Saturday, May 18. Rob Miller, regional leader, Hilb Group – New England, and managing director of Dowling & …

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Billionaire Paying Off College Students’ $40 Million Debt Has Ties to Insurance Industry

The billionaire technology investor and philanthropist who has promised to wipe out the $40 million student debt of the entire graduating class at Morehouse College has ties to the insurance industry. Robert F. Smith, who addressed the nearly 400 graduating …

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Direct Written Premium Fell in California Workers’ Comp System in 2018

Total direct written premium in the California workers’ compensation system fell for the second consecutive year in 2018, declining 3.8 percent to less than $12.3 billion as nine of the 10 largest insurer groups in the state wrote less premium …

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Florida InsurTech HoneyQuote to Offer Technology Platform to Business Partners

Digital insurance agency HoneyQuote.com launched a new partnership program that allows businesses across industries to use HoneyQuote services for customers to purchase homeowners insurance. As part of the program, businesses can add home insurance to their list of services through …

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Motorist Deaths Prompt Speed Limit Reduction on West Virginia Interstate

Speed limits have been reduced along a stretch of Interstate 77 in southern West Virginia where 12 motorists have died since 2016. The state Division of Highways lowered the speed limit last month along I-77 in Mercer County from 70 …

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New Orleans Council Backs Strong Short-Term Vacation Rental Limits

A ban on “whole home” short-term vacation rentals in residential areas of tourism-dependent New Orleans has won unanimous backing from the City Council. It was a preliminary vote. A final one is expected in 90 days. But the council made …

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Tornadoes Rake Texas, Oklahoma, Plains

A spate of tornadoes raked across the Southern Plains, leaving damage and causing few injuries, and parts of the region were bracing for more severe thunderstorms and possible flooding. Twisters destroyed at least two homes and left one person with …

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Equal Pay Lawsuit Settled With Kansas School District

The U.S. Equal Employment Opportunity Commission has settled its lawsuit against a Kansas school district that paid a female principal less than it paid the man she had replaced and less than the man who succeeded her. A consent decree …

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Michigan Governor Not in Favor of Zero Coverage Option for Drivers

Michigan Gov. Gretchen Whitmer said she opposes Republicans’ proposal to let drivers fully forgo mandatory, unlimited medical benefits covered by their auto insurance premiums, saying she must “draw a line” but is open to requiring a minimum level of coverage. …

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Safe Auto in Ohio Files Registration Statement with SEC for IPO

Columbus, Ohio-based Safe Auto Insurance Group Inc. announced it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common shares. The number of shares to …

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Grinnell Mutual in Iowa Promotes Brunk and Augustin

Grinnell Mutual in Iowa has named Andrea Brunk vice president of strategic experience and Lauren Augustin vice president of product transformation and delivery. Brunk was assistant vice president of the PMO. She joined Grinnell Mutual 2016 after working in health …

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Why Employers Should Stop Hiring Based on Work History

A common hiring philosophy used for generations is being flipped on its head by new research from Florida State University. Screening job applicants based on their prior work experience is often a mistake among employers, according to Chad Van Iddekinge, …

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Greenlight Re Invests in California Dispute Resolution Business Fairclaims

Greenlight Re Innovations has made a strategic investment in FairClaims, an online insurance and consumer dispute resolution startup based in Los Angeles, Calif. FairClaims is the sixth insurance technology business which Greenlight Re Innovations has invested in since it was …

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Army Corps of Engineers Raises Risk Assessment on Southern California Dam

The U.S. Army Corps of Engineers has changed Prado Dam’s risk characterization from moderate urgency to high urgency, based on a recent assessment. More than 1.4 million people live and work in 29 cities downstream of Prado Dam, with more …

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WCD’s Spessard Joins Beazley to Head Expanded Environmental Claims Team

Specialist insurer Beazley has hired Cal Spessard to head the team responsible for handling claims arising from the company’s environmental liability business. Spessard joins Beazley from environmental risk management specialists WCD Group, where he served as director, claims and litigation …

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Court Approves San Francisco’s Uber-Nuisance Probe

Uber Technologies Inc. was ordered to turn over to the city of San Francisco data about how many of its drivers are responsible for illegal parking, traffic congestion and safety hazards. A California appeals court rejected Uber’s argument that the …

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Claims Insurtech Snapsheet Raises $29 Million to Expand Into All P/C Lines and Globally

Virtual insurance claims services company Snapsheet has closed on $29 million in Series E funding. The company said it will use the funds to expand beyond auto into all lines of property/casualty insurance and expand globally as well as enhance …

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New Jersey Chemical Plant Fire Prompts Warnings, Bridge, Road Closures

Authorities say a fire at a chemical plant in New Jersey has been brought under control, but road and bridge closures remained in effect and local residents were urged to remain indoors because of potential danger from fumes. Kearny fire …

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Baltimore to Get Property Sales Moving Amid Cyber Attack

Baltimore, Md., officials say they have a plan to get the city’s real estate market moving again in the midst of a crippling ransomware attack. A manual workaround for property sales during the recovery will begin Monday. The ransomware shut …

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Is Sea Rise Wrecking Coastal Home Values? The Answer: Maybe

For sale: waterfront property with sweeping views of the Atlantic Ocean. Waves erode beach regularly. Flooding gets worse every year. Saltwater damage to lawn. Asking price: anyone’s guess. Some research suggests rising sea levels and flooding brought by global warming …

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Airlines Urge Nations’ Regulators to Avoid Competing Safety Rules

Global airlines urged regulators on Friday not to compete over setting new safety rules, after two crashes led to the grounding of the Boeing 737 MAX and raised questions about the international influence of the U.S. aviation authority. The U.S. …

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Violations of IMO 2020 Emissions Rules for Shipping Could Hit Insurance Cover

Tougher rules on sulfur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades. United Nations shipping agency the International Maritime Organization (IMO) met in London this week for …

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UK Risk Managers List Brand Damage, Brexit, Cyber Attacks as Top 3 Business Risks

The top three risks facing UK risk managers are reputational damage, Brexit and cyber attacks, according to Aon’s 2019 Global Risk Management Survey of thousands of risk managers across 60 countries and 33 industries. In comparison, survey respondents globally ranked …

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Driverless Electric Truck Delivers Freight on Public Road in Sweden

Resembling the helmet of a Star Wars stormtrooper, a driverless electric truck began daily freight deliveries on a public road in Sweden on Wednesday [May 15], in what developer Einride and logistics customer DB Schenker described as a world first. …

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HDI Global Specialty Taps Jackson from Neon as Head of Aviation and Space

HDI Global Specialty SE, the specialty lines insurer, has recruited Martin Jackson as head of aviation and space. Jackson joins the London office on May 20 from Neon, where he was class underwriter, marine and transport. He succeeds Tim Slade. …

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Thailand Intensifies Efforts to Stop ‘Pig Ebola’ from Crossing Border

Thailand, one of Asia’s top pork producers, is intensifying efforts to hold off a lethal pig virus that’s causing havoc as it spreads across the region. African swine fever — a disease that kills nearly all the pigs it infects …

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UK Companies Fed Up with Politicians as Cost of Brexit Uncertainty Mounts

As the cost of the Brexit turmoil mounts for British companies, business leaders are fed up with the U.K.’s political class. And with Prime Minister Theresa May’s tenure coming to an end, they worry about the alternatives. “The anger is …

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Retired Players in NFL Concussion Settlement Balk at Limits on ‘Doctor Shopping’

Retired NFL players seeking testing as part of a $1 billion concussion settlement must see a doctor close to home to prevent fraud and “doctor shopping,” the federal judge overseeing the case ruled. Lawyers for thousands of ex-players complain their …

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MGM Sees $800 Million Las Vegas Shooting Settlement; $751 Million Covered by Insurance

Casino giant MGM Resorts told federal regulators last Thursday it might pay up to $800 million to settle liability lawsuits stemming from the 2017 mass shooting in Las Vegas — the deadliest in modern U.S. history. “The company believes it …

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Facebook Reported Agreeing to 20-Year Pact on Privacy Oversight by Government

The social media giant Facebook Inc. is headed toward an agreement with the U.S. government over its privacy policies and practices that would put it under 20 years of oversight, according to a source knowledgeable about the discussions. The agreement …

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African American Strippers in Mississippi Awarded $3M in Discrimination Case

A Mississippi jury has awarded a total of more than $3 million to five African American strippers after a federal judge found the women worked under worse conditions than their white colleagues. U.S. District Judge Henry T. Wingate ruled in …

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Florida Gov Signs Bill Making Texting While Driving Primary Offense

Florida will become one of the last states to make texting while driving a primary traffic offense under a bill signed by Republican Gov. Ron DeSantis on Friday. The new law will also ban the use of any handheld wireless …

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Austin Association of Insurance Professionals Installs 2018 Officers And Directors

The Austin Association of Insurance Professionals held their 2019 installation dinner on Tuesday at Balcones Country Club in Austin, Texas. The 2019/20 officers and directors for AAIP were installed. In addition, the AAIP past presidents in attendance were recognized, and …

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Louisiana House Gives Nod to Medical Marijuana Inhaler Bill

Louisiana’s medical marijuana patients would be able to inhale cannabis, if senators agree to a proposal that won overwhelming support from lawmakers in the House. Rep. Ted James, a Baton Rouge Democrat, says his bill shouldn’t be seen as an …

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Frederick H. DiMeo Acquires Ozwald and Speaker in California

The Frederick H. DiMeo Insurance Agency Inc. has purchased the personal lines division of Oakland, Calif.-based Ozwald and Speaker Insurance Services Inc. The acquisition includes the purchase of six books of business, adding a reported $1.2 million of written premium …

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Ohio Launches Campaign Urging Safety Belt Use by Drivers

The Ohio State Highway Patrol has begun a campaign urging Ohio motorists to wear their safety belts. The patrol says troopers will be encouraging drivers to “buckle up” to save lives. A statement released by the patrol this week says …

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Nearly $1M Settlement in Wyoming Shooting Of Man

A city in Wyoming has settled a lawsuit over a fatal shooting by two police officers. Attorneys for the estate of John Randall Veach said Tuesday they settled the lawsuit for $925,000 in damages. Rawlins Police Sgt. Jared Frakes and …

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Lawsuit Says Utah Bus Driver Was Sick, Tired Before Fatal Crash

A Greyhound driver who authorities say fell asleep before the bus careened off a road in the Utah desert two years ago was tired, sick and should never have been behind the wheel, according to a new lawsuit over the …

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London Marine Insurers Expand Middle East Threat After Saudi Ship Attacks

London’s marine insurance market has extended the list of waters deemed as high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday. The London insurance market’s Joint War Committee …

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Insurer Says Iran’s Guards Likely Facilitated Saudi Tanker Attacks: Reuters

Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers’ report seen by Reuters. The UAE, Saudi …

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California Bill to Expand Customer Ability to Sue over Handling of Data Fails

California’s senate blocked a bill on Thursday that would have expanded the ability of consumers to sue companies over their handling of personal data, a win for tech industry groups concerned about wide-ranging privacy lawsuits. Under California’s data privacy law, …

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AXA XL Names Bertha to Lead U.S. East Region Multinational Casualty Group

AXA XL has promoted Marc Bertha as team lead for the U.S. Eastern Region Multinational Casualty group. Based in New York, Bertha will be leading the region’s underwriting team whose overall mission is to partner with new and existing clients …

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First Connecticut Crumbling Foundation Repaired with State’s Help

Work has been completed on the first Connecticut home with a crumbling foundation, using funds from a captive insurance company created by the General Assembly in 2017. It took about six weeks to replace Kevin and Aisling McCloskey’s basement in …

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Eight Days After Cyberattack, Baltimore’s Network Still Hobbled

More than a week after a cyberattack hobbled Baltimore’s computer network, city officials said Wednesday they can’t predict when its overall system will be up and running and continued to give only the broadest outlines of the problem. Baltimore’s government …

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Prosecutor Says Limo Company Operator Knew of Vehicle Problems in New York Crash

Prosecutors say the limousine company operator charged in connection with an upstate New York crash that killed 20 people was aware of prior passenger complaints about the ill-fated vehicle and had even refunded fares. In a document filed last week …

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Sompo Global Risks Forms Life Sciences Team Led by Ex-OneBeacon Exec Lauer

Sompo Global Risk Solutions (GRS) has formed a new team offering insurance to clients in the life sciences industry. The GRS Life Sciences team is led by Todd Lauer who has joined Sompo GRS as senior vice president. Lauer brings …

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Senators Urge Allies to Heed Trump’s Warning on China’s Huawei

U.S. senators warned allies that Chinese telecommunications companies such as Huawei Technologies Co. can’t meet security standards for advanced networks due in part to Chinese law that demands cooperation with security agencies. “There is no way in hell China can …

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Brazil’s Vale Warns Another Mine Tailings Dam at Risk of Collapse

Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 …

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Aon Makes Leadership Changes in Global Reinsurance Clients Team

Aon plc announced organizational changes within its Global Reinsurance Clients team, which supports 25 of the largest global insurers. Part of Aon’s Reinsurance Solutions business, the team was launched in 2014 to ensure that the firm consistently delivers the full …

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Jet-Powered Flying Taxi Completes Debut Flight Near Munich

The world’s first all-electric vertical takeoff and landing passenger jet has been unveiled after completing its first flight. German startup Lilium aims to have a fleet of the five-seat aircraft — which can operate with a pilot or in drone …

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AM Best Affirms Ratings of Third Point Re While Revising Outlook to Negative

AM Besthas revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Bermuda-based Third Point Reinsurance Co. Ltd. (TPRE) and Third Point Reinsurance …

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Bank of England Warns Against Weakening Rules for Insurers, Banks After Brexit

Weakening rules for banks and insurers after Brexit would be “anathema,” but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on Thursday. “So as far as the stringency …

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Boeing 737 Max Crashes Could Cost European Insurers $450 Million

Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate that Chief …

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Update: Georgia Gov Suspends Insurance Commissioner Beck Over Indictment

Georgia Governor Brian Kemp has suspended Insurance Commissioner Jim Beck from his position while he faces a 38-count indictment from a federal grand jury. On May 16, Kemp issued an executive order suspending Beck, effective immediately. The order came in …

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Willis Towers Watson’s Ross and Team to Join Higginbotham in Oklahoma City

Higginbotham has forged an agreement with with Willis Towers Watson, under which Fort Worth-based Higginbotham will acquire an Oklahoma City group of insurance professionals led by broker Richard Ross who formerly were with Willis Tower Watson. The transaction expands Higginbotham’s …

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Bills Proposing Climate Change Studies Stall in Texas Legislature

A few months before this year’s biennial legislative session, a report commissioned by Gov. Greg Abbott on lessons learned from Hurricane Harvey declared a dire need to “future-proof” the state. Some progressives hoped that might involve planning for climate change …

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Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation

In Missouri, insurance companies owe a contractual duty to defend civil actions that allege liability of their insureds that is potentially covered under the terms of the subject insurance policy. As part of that duty, the insurer must act in …

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Proposed Ohio Bill Bars Towing Services from Hiring ‘Spotters’

A bill that would prohibit towing services from hiring “spotters” to report illegally parked vehicles is up for consideration in an Ohio House committee. A spotter as described in the bill is a person whose task is to report the …

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Louisiana Court: Law Doesn’t Prohibit Forum Selection Clause in Commercial Policy

The Louisiana Supreme Court has determined that state law does not expressly prohibit a clause in a commercial property insurance policy that specifies that any coverage dispute ending up in litigation must be heard in a forum, or venue, named …

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‘Pooey Puitton’ Lawsuit Against Louis Vuitton Goes Nowhere

Louis Vuitton has won the dismissal of a lawsuit by a California toy company that accused the French luxury goods maker of trying to interfere with its sales of a poop-shaped toy purse for children, Pooey Puitton. U.S. District Judge …

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Bayer’s Strategy on Roundup Litigation Rests on EPA Glyphosate Finding

Bayer AG plans to argue that a $2 billion jury award and thousands of U.S. lawsuits claiming its glyphosate-based weed killer Roundup causes cancer should be tossed because a U.S. regulatory agency said the herbicide is not a public health …

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5 More States Sue Purdue Over OxyContin Marketing

Purdue Pharma LP and its billionaire owners are being sued by five more states alleging the company’s aggressive marketing of the OxyContin painkiller triggered a vast addiction epidemic that has claimed hundreds of thousands of lives in the U.S. The …

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Munich Re to Offer Coverage for Curv Digital Assets, Cryptocurrency

Curv, a cloud-based institutional digital asset wallet service, has partnered with Munich Re to provide insurance protection of up to $50 million for digital assets offered through its service. Munich Re will offer an opt-in solution to Curv’s customers that …

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North Carolina Town Damaged by Tornado

Officials say that a tornado roared through Wake County, North Carolina for up to eight miles, uprooting trees and damaging houses and roads throughout the town of Zebulon. No injuries have been reported. Two rounds of severe weather moved through …

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Arrest Made in Arson Fires to Homes Owned by South Carolina Gov

A 21-year-old man has been charged with intentionally setting a fire that damaged two Columbia rental properties owned by South Carolina Gov. Henry McMaster, causing hundreds of thousands of dollars in damage. Frank John Wilberding was arrested Tuesday and charged …

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California’s Deputy Commissioner for Climate and Sustainability in Talks with Insurers

Michael Peterson has had about five months to come in and tackle a what promises to be unique job. Peterson is California’s deputy commissioner for climate and sustainability. After California Insurance Commissioner Ricardo Lara named Peterson to the newly created …

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California Agent Allegedly Steals Over $65K From Small Business Owners

California Insurance agent Francis Okyere, 67, self-surrendered this week at the Los Angeles County Superior Court after being charged with four felony counts of grand theft. The charges arose from an investigation by the California Department of Insurance’s investigation division …

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Hartford to Close on $2.1 Billion Acquisition of Navigators on May 23

The Hartford said it has received all regulatory approvals needed to complete its acquisition of Navigators Group on May 23. “This acquisition is a significant milestone for our company and accelerates the achievement of key strategic objectives. We are excited …

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Commercial Insurance Prices Were Up 3% Globally, 1.1% in U.S. in Q1: Marsh

Average global commercial insurance prices increased 3% in the first quarter of2019, according to broker Marsh. This represents the sixth consecutive quarter of average commercial insurance pricing increases, Marsh said in its Global Insurance Market Index for the first quarter …

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A.M. Best Warns of Ratings Downgrades If Terror Reinsurance Act Not Renewed

Property/casualty insurers that have relied heavily on the federal terrorism reinsurance program face the risk of rating downgrades if the program isn’t renewed by the end of 2020, ratings firm A.M. Best has warned. A.M. Best said that the Terrorism …

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Musk Battles Defamation by Tweet Claim Brought by British Diver

A British diver who is suing Tesla CEO Elon Musk for defamation can’t recover damages because the diver allegedly started the spat and his reputation hasn’t been harmed, a new attorney for Musk says in a court filing. Vernon Unsworth …

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Colorado Begins Work on New Safety-Focused Oil and Gas Rules

Colorado oil and gas regulators are outlining some of their first planned rule changes under a new law that makes public safety and the environment their top priorities. The Oil and Gas Conservation Commission will meet with industry representatives and …

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California Dioceses Creating Abuse Compensation Program

Six Roman Catholic dioceses in California are creating a program to compensate people who were sexually abused by priests as children, in return for them promising not to sue. The program announced Tuesday includes the Archdiocese of Los Angeles and …

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A.I.M. Mutual Expands Workers’ Comp Coverage to Maine

After 30 years as a workers’ compensation insurance carrier in New England, A.I.M. Mutual has announced its expansion of coverage to Maine. Already serving Massachusetts, New Hampshire, Vermont and Connecticut, this move for 2019 extends A.I.M. Mutual’s operational territory across …

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U.S. Blacklisting of China’s Huawei to Disrupt Global Technology Supply Chain

The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment. The …

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Maryland Businessman Pleads Guilty to Stealing Up to $1.5M in Wine

A Maryland man pleaded guilty Tuesday to embezzling up to $1.5 million in upscale wine from customers who paid him to store the bottles, which he sold without their knowledge. A plea agreement calls for William Lamont Holder, 54, of …

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Maker of OxyContin Gets Hit with Another State Lawsuit

The company that makes OxyContin did not stop pitching the powerful opioid painkiller to doctors even when its sales representatives raised concerns that they were prescribing the drug inappropriately, the Pennsylvania attorney general’s office said in a lawsuit announced Tuesday. …

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Marsh’s Stevens Joins Victor Insurance to Lead International Business

Victor Insurance Holdings, a managing general underwriter (MGU), announced the appointment of Anthony Stevens as president of Victor International. Stevens is responsible for advancing Victor’s insurance strategy outside of North America with a focus on new insurance products and digital …

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U.S. Delays Review of Spectrum for Vehicles to Communicate

Federal Communications Commission Chairman Ajit Pai on Wednesday delayed plans to begin in June a comprehensive review of a valuable band of spectrum reserved for vehicles to communicate with one another. Pai on Tuesday had called for the FCC “to …

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Munich Re Forms Global Partnership with Telematics Provider The Floow

Munich Re disclosed it will partner globally with telematics provider The Floow. The deal will help strengthen Munich Re’s telematics consulting offering but also allow The Floow’s products and services to be provided to insurance clients globally. Both companies hope …

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Generali’s Net Profit Rises 28% in First Quarter, Boosted by Asset Sales

Generali, Italy’s biggest insurer, reported a larger-than-expected 28 percent rise in first-quarter net profit helped by asset sales, though capital ratios fell due to regulatory changes. Generali’s solvency ratio, a key measure of financial strength, stood at 207% at the …

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