Chemours Suit Claims DuPont’s Clean-Up Liability Estimates ‘Spectacularly Wrong’

Chemours Co. claims its former parent DuPont Inc.’s estimates on liabilities the spun-off company should cover were “spectacularly wrong” and wants a judge to block the chemical maker’s requests for “unlimited indemnity.” A Delaware judge on Friday unsealed a lawsuit …

from News – Insurance Journal

Anxiety, Policy Limits Rising Ahead of California’s Sweeping Data Privacy Law

Robert L. Wallan’s clients are keeping him quite busy as they fret about the implementation next year of the nation’s most far-reaching data privacy law, which gives California consumers more control over their personal data. Wallan, a partner in Pillsbury …

from News – Insurance Journal

12 Miami School Bus Employees Arrested in $427K Insurance Fraud Scheme

Twelve current and former Miami-Dade School District school bus employees were arrested last week for allegedly filing fraudulent insurance claims totaling $426,933, according to a statement from Florida CFO Jimmy Patronis. The bus drivers and aides are accused of using …

from News – Insurance Journal

Suit Alleges Dangerous Conditions Caused Death at Atlanta Braves Stadium

The widow of a beer tap inventor who died inside a walk-in cooler at the Atlanta Braves’ stadium is blaming a faulty door mechanism and lethal carbon dioxide leaks. Angela Keeling made the allegations in a wrongful death lawsuit filed …

from News – Insurance Journal

OSHA Fines Florida Zoo $14.5K Over Worker Injured by Rhino

A Florida zoo has been fined more than $14,500 after a worker was injured by a 4,000-pound (1,800-kilogram) white rhinoceros earlier this year. The Florida Times-Union reported June 25 that the U.S. Department of Labor’s Occupational Safety and Health Administration …

from News – Insurance Journal

InsuraGuest, Venture Insurance to Offer Accident, Property Coverage to Hotel Guests

InsuraGuest, Inc. has partnered with Venture Insurance Programs to provide U.S. hotels with specialized insurance coverage for guests who are staying in the hotel utilizing InsuraGuest’s insurtech software. InsuraGuest’s API integrates with approximately 70 different hotel property management systems, with …

from News – Insurance Journal

North Carolina House Approves Safety Rules for Ridesharing Companies

New rules for drivers of ridesharing companies like Uber and Lyft operating in North Carolina have cleared the state House. The bill approved unanimously on Thursday is considered a safety measure following the March death of a university student in …

from News – Insurance Journal

Company in Fatal Biker Crash in New Hampshire Has History of Violations

The company that employed a Ukrainian-born truck driver whose collision with motorcyclists in New Hampshire left seven dead has a history of violations including mechanical problems and drug-related infractions. Volodymyr Zhukovskyy, 23, is being held without bail in Coos County …

from News – Insurance Journal

Massachusetts’ Fred C. Church Insurance Hires Lonsdale

Fred C. Church Insurance has hired Ian Lonsdale as an Employee Benefits client executive. The main focus of the Employee Benefits division at Fred C. Church is to serve and support its commercial clients. Utilizing five areas of expertise – …

from News – Insurance Journal

Bayer Shareholders React Positively About Plan to Resolve Glyphosate Lawsuits

Bayer shares jumped on Thursday after it revealed plans aimed at resolving multi-billion dollar lawsuits linked to glyphosate, a move welcomed by activist shareholder Elliott, which has taken a sizable stake in the chemicals company. Shares in the German group, …

from News – Insurance Journal

Specialist Re/Insurer Apollo Taps Steeds from XL Catlin as Political Risk U/W

Lloyd’s managing agency Apollo Syndicate Management has appointed William Steeds as senior political risk underwriter for Syndicate 1969, effective immediately. He reports to Chris King, head of crisis management at Apollo. Steeds joins Apollo with more than 20 years’ experience …

from News – Insurance Journal

S. Africa Insurer Discovery Opens Bank, Challenging Traditional Lenders

It took Discovery Ltd. 1.5 million man hours over four years to build a bank. When the startup opens to the public Monday it will challenge South African lenders with histories going back to 1838, and they’re ready for battle. …

from News – Insurance Journal

JBA Risk Management and FloodFlash Launch Parametric Flood Policy in UK

JBA Risk Management and FloodFlash have formed a partnership to provide event-based flood insurance, which uses parametric triggers for property exposures. The product is an industry first and will provide bespoke insurance for policyholders in frequently flooded areas who have …

from News – Insurance Journal

Blast of Hot Air from Sahara Triggers Record Heatwave Across Europe

Europeans fought to stay cool as a blast of hot air from the Sahara desert sent temperatures to records in large parts of the continent and whipped up concern about climate change. Germany imposed speed restrictions on usually limit-free stretches …

from News – Insurance Journal

China Creates Insurance Group to Take Over Troubled Insurer Anbang

China has created the new insurance group set to take over the main operations of Anbang Insurance Group Co., the once-acquisitive conglomerate that’s under state control. Beijing-based Dajia Insurance Group, which was established on June 25, has 20.4 billion yuan …

from News – Insurance Journal

Fire Destroys Furniture Building, Warehouse in Mississippi

Investigators are trying to determine what started a fire that destroyed a building in north Mississippi that houses a furniture business and storage for a refrigerator maker. No injuries were reported in the fire Wednesday in New Albany. The Northeast …

from News – Insurance Journal

West Virginia Medical Marijuana Program Could Take Years to Roll Out

West Virginia patients and caregivers waiting for the state’s medical cannabis program to officially start in July shouldn’t expect their program cards or physicians certificates anytime soon. The Dominion Post reports that the state has had little time to prepare …

from News – Insurance Journal

Cyber Risks Are Jeopardizing M&A Deals

Cybersecurity issues are increasingly becoming a concern in mergers and acquisitions, a new survey shows, and lapses can jeopardize deals or haunt purchasers long after the deal is done. Of more than 2,700 information technology and business decision makers surveyed …

from News – Insurance Journal

TATA Group’s Fitzsimons Joins AIG as Shared Services Global Chief

American International Group announced that Shane Fitzsimons is joining the company as global head of Shared Services. This is a newly created role at AIG that establishes a single point of accountability for key operational and financial capabilities across the …

from News – Insurance Journal

Uncertainty Follows Grief When Small Business Owners Die Without Succession Plans

When Jim McLaughlin died suddenly from a heart attack at age 64, his family assumed they would have to close his homebuilding business. He’d made no plans for someone to succeed him at McLaughlin Construction, and there was no employee …

from News – Insurance Journal

How Insys Bankruptcy Case Could Alter Fate of Thousands of Opioid Lawsuits

The fate of thousands of lawsuits seeking to hold drugmakers responsible for fueling the U.S. opioid epidemic hinges in part on a thorny legal question: Can a company can use a bankruptcy to stop lawsuits from cities and states? U.S. …

from News – Insurance Journal

Poll Shows Renters Are Confused About Security and Insurance Coverage

Renters are not taking enough precautions to protect their property and valuables and may actually be alerting would-be burglars that their homes are unoccupied, a new survey finds. While fewer home renters (41%) posted news of their vacation on social …

from News – Insurance Journal

Scooter Riders Urged to Beware of Insurance Pothole

We’ve all seen reports about head injuries, traffic accidents and even deaths that electric scooter riders have suffered as the popular new mobility option has pushed onto the streets in more than 100 cities worldwide. Despite the dangers, riders are …

from News – Insurance Journal

U.S. Jury Finds Huawei Stole Silicon Valley Startup’s Trade Secrets

A federal jury in Texas has ruled that Huawei stole trade secrets from a Silicon Valley startup, but it didn’t award any damages. After a three-week trial, jurors in U.S. District Court in Sherman, Texas, determined Wednesday that while Huawei …

from News – Insurance Journal

Cavignac & Associates in California Names French Employee Benefits Account Administrator

San Diego, Calif.-based Cavignac & Associates has added Denise French to its employee benefits team as an account administrator for special projects. French serves as the primary customer service person for enrolled members. She has five years of experience in …

from News – Insurance Journal

XS Brokers Hires Delmonico-Long, Hall to Florida Business Development Team

XS Brokers (XSB), an independent insurance underwriting and wholesale brokerage group, has hired Michelle Delmonico-Longo as Business Development manager and David Hall as senior vice president, Business Development for the Florida region. According to Lori Ault, executive vice president and …

from News – Insurance Journal

Attorney Says Young Girl Hit During Astros Game Had Skull Fracture

An attorney for the family of a 2-year-old girl struck by a foul ball during a game last month between the Chicago Cubs and Houston Astros said that the girl suffered a skull fracture. Attorney Richard Mithoff provided the first …

from News – Insurance Journal

Lawsuit: Workers at Iowa Pork Processor Fired for Work Conditions Complaints

Three workers have sued an Iowa pork processor they said fired them in retaliation for filing complaints about working conditions and talking with state health officials. Luis Aceves, Jose Moreno and Jose Magana filed three separate lawsuits last week against …

from News – Insurance Journal

Indiana Court: IBM Owes State More Than $70M in Automation Dispute

Indiana’s Supreme Court has decided IBM Corp. must pay the state more than $70 million over the company’s failed effort to automate much of the state’s welfare services. The court ruling upholds lower court rulings in the case that began …

from News – Insurance Journal

Insurance to Pay Most of Minnesota Diocese’s $34M Settlement with Abuse Victims

The Diocese of New Ulm in Minnesota has reached a $34 million settlement in its bankruptcy case with 93 people who say they were sexually abused by priests and others, the diocese and an attorney representing survivors said. Attorney Jeff …

from News – Insurance Journal

Sinkhole in North Carolina Parking Lot Reaches 27-Feet and Growing

A 27-foot (8 meter) long and 20-foot (6 meter) deep sinkhole continues to expand in a North Carolina parking lot. The sinkhole is about half the size of a tractor-trailer and about as deep as a giraffe’s height – and …

from News – Insurance Journal

With Governor’s Signature, Illinois Is 11th State to Legalize Recreational Marijuana

Illinois’ new governor delivered on a top campaign promise by signing legislation making the state the 11th to approve marijuana for recreational use in a program offering legal remedies and economic benefits to minorities whose lives critics say were damaged …

from News – Insurance Journal

High Street Acquires Assets of Michigan’s Tompkins Insurance Agency

High Street Insurance Partners (High Street), a provider specialty commercial property/casualty insurance, employee benefits services and personal lines, has acquired the assets of the Tompkins Insurance Agency (TIA), an independent insurance firm. Based in Traverse City, Michigan, TIA provides specialized …

from News – Insurance Journal

Complacency Cited in Fatal 2017 Washington Train Crash

The vice chairman of the National Transportation Safety Board in the final report on a deadly Amtrak derailment in Washington in 2017 blasted what he described as a “Titanic-like complacency” among those charged with ensuring train operations were safe. The …

from News – Insurance Journal

Online Marketplace EverQuote Enters Health and Renters Insurance Markets

One year after its initial public offering raised $84 million, online insurance marketplace EverQuote announced it is expanding into health insurance and renters insurance, building on its existing auto, home and life insurance marketplace offerings. The Cambridge, Mass.-based company says …

from News – Insurance Journal

Global Insurance Accounting Rules Under IFRS17 to Be Amended

An international standard setting body has proposed a one-year delay and changes to the first global accounting rule for insurance contracts following industry calls for a cut in compliance costs and more time. The International Accounting Standards Board (IASB) published …

from News – Insurance Journal

Official Says Driver in New Hampshire Motorcycle Wreck Should’ve Lost License

The head of the Massachusetts motor vehicle division has resigned for failing to terminate the commercial driving license of man whose collision with a group of motorcyclists in New Hampshire left seven dead. Volodymyr Zhukovskyy, 23, on Tuesday pleaded not …

from News – Insurance Journal

Couple Suing Maryland Town for Negligence Over Tram Accident

A Maryland woman who says a tram dragged her along the Ocean City boardwalk is suing the popular vacation town for negligence. Mona and Gregory Jones are seeking $75,000 in response to the September 2017 accident. Court documents state Mona …

from News – Insurance Journal

New Jersey Failing to Put Out Required Pollution Reports, AP Finds

New Jersey’s environmental regulators have failed for nearly a decade to meet a legal requirement they provide a detailed written account for each year of enforcement actions against polluters of state waterways, the Associated Press has found. The Clean Water …

from News – Insurance Journal

Delaware Data Breach Impacts 95K Residents

The Delaware Department of Insurance recently received notice of a data security breach suffered by Dominion National, an insurer and administrator of dental and vision benefits, that impacted 95,000 Delaware residents. On April 24, 2019, through its investigation of an …

from News – Insurance Journal

CNA’s Mizzi Joins AIG’s Blackboard Insurance as Head of Underwriting

Blackboard Insurance, an American International Group company, announced that John Mizzi will join the team as head of Growth and Underwriting. Mizzi will lead the underwriting team as Blackboard expands its use of data, analytics and technology to serve the …

from News – Insurance Journal

U.S. P/C Insurers’ Net Income Increased 69% in 2018: A.M. Best

The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and higher net investment income, ratings agency A.M. Best …

from News – Insurance Journal

Supreme Court Scales Back Doctrine Giving Deference to Regulatory Agencies

The U.S. Supreme Court on Wednesday constrained the power of federal agencies, scaling back a legal doctrine that calls for judges to give agencies deference to interpret their own rules but declining to eliminate it as four conservative justices wanted. …

from News – Insurance Journal

Wegener to Succeed Willaert as President of FERMA

The Federation of European Risk Management Associations (FERMA) has chosen as its next President Dirk Wegener, global head of Corporate Insurance for Deutsche Bank Group and a member of the German risk management association GVNW. Wegener, who is currently deputy …

from News – Insurance Journal

Sweltering Heatwave in Germany Sparks Wildfires, Forces Speed Cuts on Autobahn

A blistering heatwave prompted Germany to impose speed restrictions on usually limit-free stretches of its high-speed motorways Wednesday, the latest sign of extreme weather events ruffling Europe’s largest economy. State authorities are reducing speeds to as low as 100 kilometers …

from News – Insurance Journal

Moody’s Partners with Israel’s Team8 to Create Cyber Risk Index for Businesses

Ratings agency Moody’s Corp. and Israeli cyber group Team8 launched on Thursday a joint venture to assess how vulnerable businesses are to cyber attacks and create what they hope will become a global benchmark. Cyber attacks are in focus after …

from News – Insurance Journal

Higginbotham Named Swiss Re’s CEO Reinsurance Asia, Replacing Plunkett

Swiss Re announced that Russell Higginbotham has been appointed CEO Reinsurance Asia and regional president, effective July 8, 2019, and subject to necessary regulatory approvals. He is succeeding Jayne Plunkett, who has decided to pursue career opportunities outside Swiss Re. …

from News – Insurance Journal

Swiss Re’s UK Unit ReAssure to Be Valued at up to $4.2B in IPO

UK life assurance business ReAssure will be valued at up to 3.3 billion pounds ($4.2 billion) when it floats on the London Stock Exchange, its largest shareholder Swiss Re said on Thursday. Swiss Re, the world’s second-largest reinsurance company, set …

from News – Insurance Journal

Michigan Democratic Leader Says Businesses, Heavy Trucks Must Fix Roads

With Republicans firmly opposed to a 45-cents-a-gallon fuel tax hike, Democratic lawmakers want businesses to do more to help fix the roads. A new $1.2 billion proposal from House Democrats would raise the state’s corporate tax, create a new 6-cents-a-mile …

from News – Insurance Journal

National Weather Service Confirms Rare West Virginia Tornado

The National Weather Service says storm-related damage indicates that a rare tornado touched down in West Virginia. The weather service tweeted that a tornado hit the Alum Creek area Monday night along U.S. Route 119 southwest of Charleston. A survey …

from News – Insurance Journal

What Passed, What Didn’t: New Florida Laws Taking Effect July 1

The Florida Legislature looked at and passed many pieces of legislation in the 2019 session that will impact the insurance industry. The following are summaries of what passed — and what didn’t. What Passed HB 7065 – AOB Reform Provides …

from News – Insurance Journal

Discovery of New Risk with Boeing 737 to Prolong Grounding

The U.S. Federal Aviation Administration has identified a new risk that Boeing Co. must address on its 737 MAX before the grounded jet can return to service, the agency said on Wednesday. The risk was discovered during a simulator test …

from News – Insurance Journal

Georgia Court: Insurer Can’t Deny Coverage Despite Misinformation on Application

An insurer that extended its workers’ compensation coverage for 90 days after discovering the employer had violated the terms of its policy could not then deny coverage for a claim on the grounds that those terms had been violated, the …

from News – Insurance Journal

Washington State Utility Caused Fatal Fire, Lawsuit Contends

The family of a Washington man who died in a house fire has filed a lawsuit against a public utility. The Everett Herald reported that the family of 93-year-old Glen Allen filed the wrongful death lawsuit against the Snohomish County …

from News – Insurance Journal

Jump in Western U.S. Wildfires Means Smoke’s Health Impact Will Spread

Climate change in the Western U.S. means more intense and frequent wildfires churning out waves of smoke that scientists say will affect tens of millions of people and cause premature deaths to spike. That’s prompting people in cities and rural …

from News – Insurance Journal

Bondholders Propose Bankruptcy Exit Plan Up to $30B for PG&E

A committee of bondholders of PG&E Corp.’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires. …

from News – Insurance Journal

AIR Expands Europe Inland Flood Model, Updates UK Storm Surge Analysis

Catastrophe risk modeling firm AIR Worldwide announced it has released an expanded inland flood model for Central Europe to include the country of Poland in its model domain. AIR also announced that it has updated the storm surge component of …

from News – Insurance Journal

Student Loan Help, Paternity Leave, Telemedicine, Standing Desks: Tailoring Benefits to Multigenerational Workforce

While the United States’ stable job market and regulatory environment have kept employee benefits offerings steady, some benefits such as student loan repayment, paternity leave, telecommuting, standing desks and telemedicine are gaining notable upward traction. Companies are researching on their …

from News – Insurance Journal

Purdue’s Sackler Family Must Face Opioid Suits in New York

The billionaire owners of Purdue Pharma LP must face a New York lawsuit claiming they triggered the U.S. opioid epidemic, a judge ruled, handing an early victory to states and local governments seeking to recoup billions of dollars in social …

from News – Insurance Journal

Beazley Snares Cyber Underwriters from Chubb, Gallagher for U.S. Regions

Specialty insurer Beazley has hired two cyber and technology underwriters in the U.S. to meet growing demand from middle market businesses for insurance cover for cyber, data security and privacy exposures. Jennifer Lushbough Beard joins Beazley from Chubb where she …

from News – Insurance Journal

Judge Open to ‘Novel’ Idea of Local Government Class for Opioid Settlement Talks

A judge backed a push by U.S. cities and counties suing opioid makers such as Purdue Pharma LP and Johnson & Johnson to negotiate a settlement as a group but put off until August a final decision on the request. …

from News – Insurance Journal

New York City Uber Driver Gets Three Years for Kidnapping Sleeping Passenger

A man who drove for Uber in New York City has been sentenced to three years in federal prison for abducting a woman who fell asleep inside his vehicle. A judge Monday also ordered Harbir Parmar to pay more than …

from News – Insurance Journal

High School Student Sued for Activating Virginia Hotel Room Sprinkler

A hotel’s insurance company has sued a high school student it claims caused more than $690,000 in damage by activating a sprinkler inside one of its rooms. The Virginian-Pilot reports Landstown High School senior Cade Anderson stayed at the hotel …

from News – Insurance Journal

Philadelphia Refinery Fire Out, Probe into Cause of Blaze to Begin

A fire in a Philadelphia refinery struck by explosions and a pre-dawn blaze last week has now been extinguished as an investigation is launched into what caused it, authorities said. The blaze at the Philadelphia Energy Solutions Refining Complex, the …

from News – Insurance Journal

BHSI Names QBE’s Walker as UK Head of Customer and Broker Engagement

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its team in the UK with the appointment of Mark Walker as head of Customer and Broker Engagement. “I’m extremely pleased to have Mark leading our efforts to expand our broker …

from News – Insurance Journal

Arthur J. Gallagher to Acquire Minority Stake in Prague-Based Broker Renomia

Arthur J. Gallagher & Co. announced it has signed an agreement to purchase a minority stake in Prague-based Renomia. The deal is subject to regulatory approval and is expected to close in the third quarter of 2019. Financial details of …

from News – Insurance Journal

Global Telecoms Have Lost Vast Data to Chinese Hackers Over 7 Years, Cybersecurity Firm Reports

Hackers broke into the systems of more than a dozen global telecom firms and stole huge amounts of data in a seven-year spying campaign, researchers from a cyber security company said, identifying links to previous Chinese cyber-espionage activities. Investigators at …

from News – Insurance Journal

Lloyd’s Underwriters Form $67.5M Facility to Insure Complex, Emerging Risks

A group of Lloyd’s underwriters have launched a new facility with £53 million ($67.5 million) of capacity, which is designed to speed up re/insurance product development for today’s new and emerging risks. The Product Innovation Facility is led by senior …

from News – Insurance Journal

Ex-AIG Employees, Seeking Back-Bonuses of $100M, Win British Court Ruling

A group of former traders and managers at American International Group Inc. won a London judge’s backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn’t put forward …

from News – Insurance Journal

Jury Awards $3M-Plus in Michigan Misdiagnosed Epilepsy Case

A Michigan jury has awarded more than $3 million to a woman who was misdiagnosed with epilepsy, one of hundreds of people to accuse a Detroit-area doctor of misreading tests to enrich himself and his employer. Dr. Yasser Awaad was …

from News – Insurance Journal

Senators Eye Making Tech Giants Reveal How Much Customers’ Data Is Worth

As Congress bears down on big tech companies, two senators want to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The legislation floated this week by Sens. …

from News – Insurance Journal

Data-Driven Insurance Future Clouded by Data Ownership Uncertainty

Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out who owns the data. Presentations …

from News – Insurance Journal

Porsche Auto Maker Offers Mileage-Based Auto Insurance in 2 States

Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding …

from News – Insurance Journal

Florida Keys to Receive $21M for Hurricane Irma Recovery

Officials say the Florida Keys will receive $21 million for Hurricane Irma recovery, along with $35 million for affordable housing. Gov. Ron DeSantis announced the money during a Thursday news conference in Marathon. The $21 million comes from the Florida …

from News – Insurance Journal

North Carolina, Feds to Purchase 24 Generators for Use During Storms, Disasters

North Carolina and the federal government are paying over $1.4 million for 24 generators and other help so communities can keep the power on at public infrastructure during storms and disasters. The money will go mostly toward generators, with the …

from News – Insurance Journal

Kentucky Looks to Encourage Insurtech Investments Through Regulatory ‘Sandbox’

The Kentucky Legislature has passed the first state law in the U.S. providing comprehensive framework for an insurance regulatory “sandbox” for insurance technology products. The new regulatory sandbox, which will be administered by the Kentucky Department of Insurance (DOI), allows …

from News – Insurance Journal

Specialty Broker Ed Expands to Bermuda

Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda will provide its multiline broking services through TradEd, its proprietary trading platform. Opening in Bermuda underpins …

from News – Insurance Journal

Vote Expected on Federal Funds to Test Connecticut Crumbling Foundations

Federal legislation that sets aside $4 million in federal funds to study the effects of the mineral pyrrhotite on concrete aggregate has advanced in the U.S. Congress. Democratic U.S. Joe Courtney, whose eastern Connecticut district includes homeowners with basements crumbling …

from News – Insurance Journal

World Insurance Associates Acquires New Jersey’s Links Insurance Services

World Insurance Associates LLC (WIA), an independent insurance agency headquartered in Tinton Falls, N.J., has acquired Links Insurance Services LLC of Wall, N.J., on June 13, 2019. Links Insurance Services LLC was established in October 2001. The agency seeks to …

from News – Insurance Journal

Report Says Major Hurricane Could Cost Virginia $40B

Experts say that southeastern Virginia could suffer $40 billion in losses if it’s struck by a major hurricane. Professors from Old Dominion University said in a recent report that the damages could seriously puncture the regional economy. The June 12 …

from News – Insurance Journal

Tokio Marine Puts UK Insurer into Run-Off, Focusing on Lloyd’s Business

Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be taken in two parts: TMKI’s …

from News – Insurance Journal

Insurance for Middle East Oil Shipments Soars to More Than $500,000

The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the …

from News – Insurance Journal

Santander Pays $1.1B to Replace Allianz with Aegon, Mapfre in Spain Joint Venture

Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …

from News – Insurance Journal

Oklahoma Judge Approves Revised $85M Opioid Settlement With Teva

An Oklahoma judge has approved a revised $85 million settlement with Teva Pharmaceutical Industries Ltd. resolving claims by the state’s attorney general that the drugmaker helped fuel the U.S. opioid epidemic. The decision by Cleveland County District Judge Thad Balkman …

from News – Insurance Journal

Credit Rating of Federated Rural Electric Insurance Exchange in Kansas Upgraded

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Federated Rural Electric Insurance Exchange (Federated Rural) in Lenexa, Kansas. The outlook for the …

from News – Insurance Journal

Chicago Cargo Company to Pay $135K to Settle EEOC Harassment, Retaliation Suit

Federal officials say a Chicago-based cargo handling company will pay $135,000 to settle a sexual harassment and retaliation lawsuit. Alliance Ground International, a cargo handling company that performs cargo, mail and ramp handling services for multiple clients at several major …

from News – Insurance Journal

Federal Disaster Assistance Approved for 6 More Oklahoma Counties

Oklahoma Gov. Kevin Stitt says six more counties in the state have been approved for disaster assistance by the Federal Emergency Management Agency. Stitt announced on June 20 that individuals and business owners affected by severe storms since May 7 …

from News – Insurance Journal

Mississippi Floodgate Opened Again to Drain Delta

A floodgate in Mississippi has reopened as the Mississippi River falls, allowing a months-long flood in parts of the Mississippi Delta to begin draining. The U.S. Army Corps of Engineers says it opened the Steele Bayou floodgate north of Vicksburg …

from News – Insurance Journal

Ironshore Environmental Adds Contractors Pollution Liability Product to Online Portal

Ironshore Environmental has streamlined its Contractors Environmental Legal Liability (CELL) policy to be underwritten by broker partners through its online Quote & Bind Portal. The Ironshore CELL product responds to third party bodily injury, property damage and remediation of environmental …

from News – Insurance Journal

Signal Mutual, Trident to Offer Workers’ Comp for Marine Industry in Texas & Louisiana

Signal Mutual, a nationwide provider of Longshore and Harbor Workers’ Compensation Act coverage, has partnered with Trident Marine Managers (TMM), a unit of Ryan Specialty Group to offer workers’ comp coverage to waterfront employers in Texas and Louisiana. Under the …

from News – Insurance Journal

Tokio Marine Looking for Insurance Acquisitions in Asia, Other Markets

Tokio Marine Holdings Inc. is seeking acquisition opportunities in Asian emerging markets and elsewhere as it seeks to double profits from those regions, according to the new chief of Japan’s largest property-and-casualty insurer. “We have group companies in Southeast Asia …

from News – Insurance Journal

JetBlue Lawsuit Claims Walmart Violates Its Trademark with Jetblack Service

JetBlue Airways Corp. has sued Walmart Inc. for trademark infringement, in an effort to stop the world’s largest retailer from using the name Jetblack for its text-based personal shopping service. In a complaint filed on Friday night, JetBlue said Jetblack …

from News – Insurance Journal

Supreme Court to Hear Fight Over $12 Billion Obamacare Payments to Insurers

The U.S. Supreme Court on Monday agreed to decide whether insurers can seek $12 billion from the federal government under a program set up by the Obamacare law aimed at encouraging them to offer medical coverage to previously uninsured Americans. …

from News – Insurance Journal

Supreme Court Offs Ban on Foul Language Trademarks

The Supreme Court on Monday struck down a longstanding U.S. ban on trademarks on “immoral” or “scandalous” words and symbols, ruling in a case involving a clothing brand with an indelicate name that the law violates constitutional free speech rights. …

from News – Insurance Journal

Lloyd’s Suspends Broker Over Harassing Email

Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who forwarded the message outside …

from News – Insurance Journal

Trump Moves to Force Hospitals, Insurers to Disclose Prices

The Trump administration took a step toward making paying for health care more like paying for coffee, computers or clothing, by letting patients know prices up front — but what consumers could do with that information once they have it …

from News – Insurance Journal

Sinkhole Shuts Down Part of Major Florida Interstate

Parts of busy Interstate 75 was shut down in Florida after a sinkhole opened up. The southbound lanes were shut down just in time for rush hour traffic Friday. The Ocala Star-Banner reports the sinkhole is growing rapidly and was …

from News – Insurance Journal

North Carolina to Host Flood Insurance Conferences; Agents Eligible for CE Credits

The North Carolina Department of Insurance has set up five flood insurance conferences statewide between July and September designed to educate the public, insurance and real estate agents of the need to purchase flood insurance, NCDOI said in a statement. …

from News – Insurance Journal

12-Year-Old Boy Killed After Fall at North Carolina Trampoline Park

A 12-year-old boy who fell from a rock climbing wall at a North Carolina trampoline park has died. News outlets report Altitude Trampoline Park in Gastonia closed Friday out of respect for the boy’s family. Police say he died Thursday …

from News – Insurance Journal

Idaho Crop Insurance Company Will Pay $3.48M in Lawsuit

A crop insurance company has agreed to pay a southwestern Idaho farming family $3.48 million following a lawsuit. The Idaho Statesman reported that the Farm Bureau Mutual Insurance Company of Idaho agreed to pay Nate and Kristin Pancheri for damage …

from News – Insurance Journal

Washington Hotel Owner Faces Charges Over Asbestos Removal, Fined $355K

A Seattle, Wash. hotel owner is facing a felony perjury charge and state Clean Air Act violations after authorities said he lied about having uncertified workers remove asbestos during a renovation. Attorney General Bob Ferguson said Friday he filed the …

from News – Insurance Journal

M5.5 Quake Confirmed California Near Pacific Coast

The U.S. Geological Survey a magnitude 5.5 earthquake has hit near the Pacific coast of Northern California. The agency says the earthquake struck at 8:53 p.m. on Saturday at a spot 17.3 miles southwest of Scotia, a town of 850 …

from News – Insurance Journal

Viewpoint: Why Medical Marijuana Laws Are Not a Gateway to Adult Use Legislation

The 2018-2019 legislative sessions of Delaware, New Jersey, New York and Pennsylvania have all but ended without the passage of adult use cannabis legislation. This was especially surprising in New York and New Jersey, where adult use legislation reportedly failed …

from News – Insurance Journal

Small Fire Still Burning at Site of Philadelphia Oil Refinery Explosions

Officials say a very small fire continues to burn at a Philadelphia refinery following explosions and a pre-dawn blaze that shook homes and caused some minor injuries. Philadelphia Energy Solutions said Saturday that workers are trying to isolate the remaining …

from News – Insurance Journal

Virginia Officials Say Party Bus Did Not Have Legal Permit When Woman Fell to Death

Virginia officials say a party bus was operating without proper permits when a woman fell out of it last year and died. The Virginian-Pilot reports that the Virginia Department of Motor Vehicles says the bus that Kisha Marrow-Lott fell out …

from News – Insurance Journal

Vermont Man’s Sunken Boat Case Scheduled for Trial in August

A lawsuit over whether insurance companies must cover a Vermont man’s claim for his boat he says sank with his mother on board is heading to trial this summer. The Providence Journal reports that a judge on Wednesday set Aug. …

from News – Insurance Journal

Liberty Mutual Re Taps Voges from AXA as Senior Marine & Energy Underwriter

Liberty Mutual Re, part of Liberty Mutual Insurance Group, has appointed Jens Voges as senior underwriter and product leader Marine & Energy within its London Market Risks (LMR) team. The new role was created to support Liberty Mutual Re’s (LM …

from News – Insurance Journal

Workers’ Comp: Delivering for Our Neighbors

Every year there are more than two million workplace injuries in the United States. Behind each of those claims is a firefighter, a construction worker, or a mechanic. They’re our moms, dads, sisters, brothers, and neighbors. One of them is …

from News – Insurance Journal

As Lloyd’s Jettisons Some Ship Insurance Lines, Rivals Find New Opportunities

Rivals to Lloyd’s of London are riding a rising tide of marine insurance rates, leaving the 330-year-old market behind after it jettisoned sections of its oldest line of business last year. Premiums for marine insurance, which until 2018 had fallen …

from News – Insurance Journal

Iran Increases Cyber Attacks on U.S. Gov’t, Infrastructure: Cyber Security Firms

Iran has increased its offensive cyber attacks against the U.S. government and critical infrastructure as tensions have grown between the two nations, cyber-security firms say. In recent weeks, hackers believed to be working for the Iranian government have targeted U.S. …

from News – Insurance Journal

Facebook’s Cryptocurrency Faces Pushback from Global Financial Watchdogs

Facebook Inc. was hours away from the formal announcement of its ambitious foray into financial services, but French Finance Minister Bruno Le Maire was already broadcasting his discontent. “It’s out of the question” that the social-media giant’s digital money compete …

from News – Insurance Journal

Women Employees at Oracle Seek Class-Action Status in Gender Pay Lawsuit

Call it the class ceiling. Women suing major technology companies for gender discrimination would have much stronger leverage against their employers if they could press their claims on behalf of a large group of female colleagues. But last year, the …

from News – Insurance Journal

AXIS Re Hires Hands from CNA Hardy as Head of Australia

AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd. announced the expansion of AXIS Re Strategic Partners with the hiring of Robert Hands as a strategic account executive and head of Australia. In this role, Hands will be …

from News – Insurance Journal

Facebook Faces Lawsuit for Data Breach Affecting Nearly 30 Million Users

Facebook Inc. failed to fend off a lawsuit over a data breach that affected nearly 30 million users, one of several privacy snafus that have put the company under siege. The company’s disclosure in September that hackers exploited several software …

from News – Insurance Journal

Financial Services Provides Plenty of Jobs – from Coast to Coast: Opinion

There were 755,436 people working in financial activities in the New York metropolitan area last year, more than twice as many as in the next-biggest area for such jobs, metro Los Angeles. But this amounted to just 8% of New …

from News – Insurance Journal

UK’s Legal & General Is Divesting Exxon Shares Over Climate Change

One of Britain’s biggest fund managers started selling shares in Exxon Mobil Corp., saying America’s largest oil company isn’t doing enough to address climate change. Legal & General Investment Management, which oversees about $1.3 trillion and is one of Exxon’s …

from News – Insurance Journal

Dutch Insurer Weighs Cutting Cover for Gambling, Arms, Nuclear Power

Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …

from News – Insurance Journal

How the Florida ‘Omnibus’ Insurance Bill Will Impact Insurer Duty to Defend, Appraisal

While most of the news out of the 2019 Florida Legislative Session surrounding insurance has focused on House Bill 7065 and the wide-spread assignment of benefits (AOB) reform it promises, another piece of legislation that makes some big insurance-related changes …

from News – Insurance Journal

CSAA in California Names Acevedo Chief Information Officer, and Rogers Chief Information Security Officer

CSAA Insurance Group has named Paul Acevedo executive vice president and chief information officer. CSAA has also named Marlys Rodgers chief information security officer. Acevedo leads CSAA’s technology organization, with responsibilities including consumer- and agent-facing digital experiences. Acevedo joined CSAA …

from News – Insurance Journal

AXA XL Enhances Environmental Insurance Coverage

AXA XL’s Environmental business in North America has added supplemental coverage to its Pollution and Remediation Legal Liability (PARLL) policy which provides protection to owners, operators and developers of fixed facilities against loss, remediation expense and legal defense expense for …

from News – Insurance Journal

Kentucky Supreme Court: Trampoline Park Not Immune from Liability in Injury Case

The Kentucky Supreme Court has ruled that a damage waiver signed by a parent at a trampoline park does not protect the park from liability in the case of an injured child. The Courier Journal reports that the court said …

from News – Insurance Journal

Kentucky Distillery Trying to Save Thousands of Barrels at Storm-Damaged Warehouse

Kentucky distillery says efforts are underway to recover thousands of barrels of bourbon at a massive storage warehouse that partially collapsed during a thunderstorm. O.Z. Tyler Distillery in Owensboro said a section of the warehouse has been “successfully deconstructed” and …

from News – Insurance Journal

California Governor Wants Wildfire Fund to Help Utilities

California Gov. Gavin Newsom is pressing lawmakers on a wildfire fund that may be financed through bonds to help utilities pay for the catastrophic blazes their power lines keep igniting, according to people familiar with the proposal. Newsom is proposing …

from News – Insurance Journal

New Hampshire’s SAN Group Hires Gray as Commercial Lines Placement Specialist

Satellite Agency Network Group Inc. (SAN), a Hampton, N.H.-based alliance of independent insurance agencies in the Northeast, has hired Kathy Gray as commercial lines placement specialist. Gray, a licensed broker and notary public, brings more than 25 years of experience …

from News – Insurance Journal

Bird Knocks Out 84% of Massive California Solar Farm

An “avian incident” sparked a fire at one of California’s biggest solar farms, affecting 1,200 acres and knocking out 84% of the California Valley Solar Ranch’s generating capacity. The June 5 incident didn’t damage solar panels at the 250-megawatt power …

from News – Insurance Journal

Severe Weather Spurs Flooding, Disrupts Rail Service in Pennsylvania

Severe storms containing heavy rains and strong winds have spurred flooding in the suburbs of Philadelphia, disrupting travel and damaging some property. The storms started Wednesday night and continued for several hours through early Thursday. It was the latest round …

from News – Insurance Journal

Maine Eyes Compensation Fund for Property Crime Victims

A Maine proposal to more swiftly compensate victims of property crimes has passed a key test in the Senate. The Senate signed off Tuesday on a proposal to create a compensation fund for victims of the crimes. The sponsor, Democratic …

from News – Insurance Journal

Oil Shippers Continue Sailing Through Strait of Hormuz – with Heightened Security

A series of attacks on oil tankers near the Persian Gulf has ratcheted up tensions between the U.S. and Iran – and raised fears over the safety of one of Asia’s most vital energy trade routes, where about a fifth …

from News – Insurance Journal

Huge Fire Rips Through Philadelphia Refinery, No Casualties Reported

Fire ripped through a Pennsylvania oil refinery early on Friday, triggering a huge explosion that local media said rocked homes several miles away. Video footage showed the 335,000-barrels-per-day Philadelphia Energy Solutions refinery, where another fire broke out 11 days ago, …

from News – Insurance Journal

Hamilton Re Sponsors Issuance of Its First Cat Bond

Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its Hamilton Capital Partners business unit. Specifically, the deal is with Cerulean …

from News – Insurance Journal

Intel’s Mobileye Aims to Launch Trial of Self-Driving Cabs on Israeli Roads in 2020

Intel Corp.’s Mobileye NV unit expects to launch a trial of robo-cabs next year in Israel, the company told Bloomberg News on Sunday [June 16]. Intel Chief Executive Officer Bob Swan rode a Mobileye autonomous car through Jerusalem congestion Sunday …

from News – Insurance Journal

Billions at Stake from Opioid Suits but Damages Unlikely to Top $200B Tobacco Windfall

An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for governments hoping to recoup costs associated with the public …

from News – Insurance Journal

Walmart Agrees to Pay $282 Million to End 7-Year Global Bribe Investigation

Walmart Inc. agreed to pay $282 million in penalties and a Brazilian unit admitted to violating a U.S. anti-bribery law, providing a relatively subdued ending to a seven-year investigation that spanned the globe and at one point looked poised to …

from News – Insurance Journal

2 Ex-AIG Employees Win $10M in France, Ahead of Separate $100M Bonus Case in UK

Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they’d already earned to cover for its huge losses. The Paris court …

from News – Insurance Journal

AIR Worldwide Releases Update of New Zealand Earthquake Model

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake sequence, the 2016 Kaikoura earthquake, and earthquakes worldwide to provide …

from News – Insurance Journal

Tesla’s Autopilot System Confuses Drivers About Extent of Automation: Safety Report

Automakers including Tesla Inc. are stoking confusion among motorists by choosing names for their automated-driving systems that wrongly suggest they’re more capable than is actually the case, according to the Insurance Institute for Highway Safety. Almost half of respondents to …

from News – Insurance Journal

Canada’s Desjardins Blames Employee for Leak of Personal Details of 2.9M Customers

Desjardins Group, the largest financial co-operative in North America, said an “ill-intentioned” employee illegally exposed the personal information of some 2.9 million credit union members in one of Canada’s largest data leaks. Laval police alerted the Quebec-based institution on June …

from News – Insurance Journal

Ghost of Harvey Looms Large as 2019 Hurricane Season Gets Underway

Compared with 2017, last year’s hurricane season was a relatively quiet one for the Gulf Coast states of Louisiana and Texas, with major U.S. storm systems such as Hurricanes Michael and Florence staying well to the east, impacting Florida and …

from News – Insurance Journal

Subrogation Waiver in Construction Contract Upheld by Wisconsin Court

A subrogation waiver in a construction contract blocks an insurer’s claim against a contractor whose alleged shoddy construction caused the collapse of a barn that cost more than $600,000 to replace, the Wisconsin Supreme Court ruled in a split decision. …

from News – Insurance Journal

EPIC Adds 4 to Employee Benefits Team in Houston

EPIC Insurance Brokers and Consultants, a retail property/ casualty insurance brokerage and employee benefits consultant, has added Principal Ed Oravetz, Principal Keith McNeely, Principal David Potts, Client Executive Elisha Johnson and Client Manager Marilu Alejandre to its employee benefits consulting …

from News – Insurance Journal

2 Injured, Multiple Structures Destroyed by Fire on Alabama-Florida Line

An overnight fire near the Alabama-Florida state line has destroyed multiple condominiums near the beach at Perdido Key and injured a resident and a firefighter. Escambia County officials say the blaze broke out early Wednesday at a development within yards …

from News – Insurance Journal

Lawrence Sworn In as Interim Tennessee Insurance Commissioner

Tennessee Gov. Bill Lee has sworn in a new interim commissioner of commerce and insurance. The state Department of Commerce and Insurance tweeted out a photo of Carter Lawrence taking the oath of office this week. Lawrence previously served as …

from News – Insurance Journal

North Carolina Insurance Fraud Round-Up: May

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

from News – Insurance Journal

Corvus Insurance Taps Stantzos to Lead New Chicago Office

Corvus Insurance, an insurtech specializing in commercial insurance, hired Amanda Stantzos as vice president of Cyber Underwriting, based in the company’s new location in Chicago. Stantzos joins Corvus from NAS Insurance Services, where she was assistant vice president of Underwriting, …

from News – Insurance Journal

Retired Judge to Mediate Dispute Over Oklahoma Opioid Settlement Funds

A former Oklahoma State Supreme Court justice will attempt to resolve a dispute over how to disburse an $85 million settlement of a state lawsuit with Teva Pharmaceuticals. Cleveland Count District Judge Thad Balkman said Monday that retired Judge Steven …

from News – Insurance Journal

Climate Change Forcing Some Alaskan Villages to Relocate

Accelerating erosion is forcing villages in western Alaska to begin making plans to move, officials said. Erosion caused by climate change threatens village infrastructure and could force the relocation of communities such as Quinhagak, Alaska’s Energy Desk reported Monday. A …

from News – Insurance Journal

Utah Movie-Filtering Company Ordered by Jury to Pay $62M to Studios

A Utah-based movie-filtering company has been ordered to pay more than $62 million to Disney and other Hollywood studios. A California jury decided the damages this week against the company VidAngel, which had ripped the movies from DVDs and then …

from News – Insurance Journal

Cancer Patient Another to Accuse UCLA Gynecologist of Assault

A cancer patient is the latest woman to accuse a retired University of California, Los Angeles gynecologist of sexually abusing her during treatment. The Los Angeles Times reports the 44-year-old unnamed woman has sued UCLA and Dr. James Heaps, alleging …

from News – Insurance Journal

How PG&E’s $1B to Local Governments for Wildfire Damage Will be Paid

A California utility agreed Tuesday to pay $1 billion to 14 local governments to cover damages from a series of deadly wildfires caused by its downed power lines. The settlement is a sliver of the more than $30 billion in …

from News – Insurance Journal

AIG’s Klepper Joins AXA XL as Chief Underwriter for Short Tail Insurance Lines

AXA XL, the property/casualty and specialty risk division of AXA, has named Robert Klepper as chief underwriting officer for Short Tail Insurance Lines. In his new role, Klepper will be responsible for developing underwriting and product profitability strategies for short …

from News – Insurance Journal

Consortium Seeks Data on Issues, Opportunities for Women in Insurance

There is an effort underway to develop a better understanding of issues and opportunities for women in the insurance industry. The Million Women Mentors’ Women in Insurance Consortium (WII) will be spearheading what is being billed as a first-of-its-kind project, …

from News – Insurance Journal

Auto Insurance Buyers’ Satisfaction Rises When They Are in Driver’s Seat

U.S. auto insurance consumers are quite happy about their coverage, and a growing shift to direct-to-consumer models has driven much of their good feelings. In a new report, J.D. Power says overall customer satisfaction with carriers rose in 2019 to …

from News – Insurance Journal

R&Q’s CEO to Step Down, Succeeded by Co-CEOs Quilter and Sellek from AM Best

Randall & Quilter Investment Holdings Ltd. the non-life legacy insurance investor and capacity provider of U.S. and European MGA program business, announced that Ken Randall will step down as group CEO, but will continue as executive chairman of the group. …

from News – Insurance Journal

Penn. Governor Wolf Wants Power Plant Emission Plan to Fight Climate Change

Pennsylvania Governor Tom Wolf is asking Pennsylvania’s Republican-controlled Legislature to take steps toward authorizing the state to join a regional consortium that sets a price and caps on greenhouse gas emissions from fossil fuel-fired power plants. The Democratic governor’s move …

from News – Insurance Journal

New York to Adopt Aggressive Emission Reduction Goals

New York would adopt some of the nation’s most aggressive emission reduction goals under a proposal worked out by state leaders and set for a vote in the state Legislature Tuesday night. Under the proposal, New York would reduce greenhouse …

from News – Insurance Journal

NY1 News Anchors Sue Charter For Age, Gender Discrimination

Five female news anchors sued Charter Communications Inc., claiming rampant age and gender discrimination at the company’s popular New York One news channel has rendered their decades of experience meaningless. “NY1 has blatantly marginalized them and cast them aside in …

from News – Insurance Journal

Motor Vehicle Accident Deaths Declined 1% Last Year

An estimated 36,760 people died in motor vehicle crashes last year, about a 1% decrease from the year before, according to the National Highway Traffic Safety Administration’s Early Estimates of Motor Vehicle Fatalities in 2018. To be included in the …

from News – Insurance Journal

NFL Passing Player Injury Prevention Research and Ideas onto Colleges

The NFL’s top medical experts are asking college football physicians and trainers to help make the game safer. They want the NCAA to pitch in, too. Dr. Allen Sills and Jeff Miller, the NFL’s executive vice president for health and …

from News – Insurance Journal

Cold War Era Satellite Images Reveal Acceleration of Asian Glacier Melt

Himalayan glacier melt has doubled over the last 40 years, according to new research made possible by declassified cold war era satellite imagery. The 650 glaciers under study in parts of China, India, Bhutan and Nepal were found to be …

from News – Insurance Journal

Lloyd’s Gathers Group of Industry Heavy-Hitters as Advisers for Its Strategy for Future

Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg of Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that will help support and develop …

from News – Insurance Journal

Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS

Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the independent Zurich-based organization that provides …

from News – Insurance Journal

Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase

Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit agreements and will reduce unnecessary litigation responsible for driving …

from News – Insurance Journal

Holmes Murphy Adds Payne as Organizational Wellbeing Practice Leader

Ali Payne has joined insurance services firm Holmes Murphy in Waukee, Iowa, as practice leader for Organizational Wellbeing. Payne brings more than 19 years of experience developing holistic, innovative solutions to enhance both the employee experience and engagement. Payne spent …

from News – Insurance Journal

Tower Hill Specialty Expands Into Arkansas

Tower Hill Specialty is now offering manufactured housing and dwelling fire insurance policies in Arkansas. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown option provides coverage for items such as appliances and HVAC systems. Discounts …

from News – Insurance Journal

Senator Calls for Facebook, YouTube, Twitter to Lose Lawsuit Immunity If Politically Biased

Technology platforms such as Facebook Inc. and Google’s YouTube could face a flood of lawsuits unless they can demonstrate their treatment of users’ content is politically neutral, under a measure that U.S. Senator Josh Hawley’s office said he would offer …

from News – Insurance Journal

Hudson River Pilot ‘Sully’ Urges More 737 Training, Aircraft Certification Reform

Chesley “Sully” Sullenberger, who in 2009 landed a US Airways flight safely on the Hudson River in New York, told a congressional panel on Wednesday that pilots of the now-grounded Boeing 737 MAX should get new simulator training before the …

from News – Insurance Journal

South Carolina Governor Looks to Tackle State’s Flooding Woes

Gov. Henry McMaster started his Saturday in a South Carolina town devastated by flooding twice in three years to try to help make things better in the short and the long term. McMaster and other volunteers helped clean trash and …

from News – Insurance Journal

AIG Consolidates Reinsurance into New AIG Re; Taps Marsh’s Schaper as CEO

American International Group announced the formation of AIG Re, which consolidates the company’s assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty, into one global business. AIG completed its acquisition of Bermuda reinsurer and specialist insurer Validus Holdings last …

from News – Insurance Journal

Sandy Hook Shooting Victims’ Parents Win Defamation Suit Against Conspiracy Theory Authors

The father of a victim of the Sandy Hook Elementary School massacre has won a defamation lawsuit against the authors of a book that claimed the shooting never happened — the latest victory for victims’ relatives who have been taking …

from News – Insurance Journal

Maine Farmer Becomes Board Chair of The MEMIC Group

From broccoli to the board room, Lance Smith has cultivated a reputation for collaboration, hard work and common sense. A partner in Smith’s Farm, the largest producer of broccoli and one of the largest growers of cauliflower in the East, …

from News – Insurance Journal

Explosion Levels New Jersey Home, Injuring Lone Occupant

An explosion leveled a home in New Jersey on Monday, injuring the lone occupant, who was pulled from the burning rubble by an off-duty police officer and first responders. Heavy flames and a large plume of smoke rose from the …

from News – Insurance Journal

Enrollment Opens for Dairy Farm Insurance Program

Vermont dairy farmers can now sign up for an improved insurance program to help them when the gap between milk prices and feed prices reaches a certain level. The new insurance program was created as part of the 2018 farm …

from News – Insurance Journal

Drug Makers’ Supply Chain Probed as Blood Pressure Pill Tests Positive for Carcinogens

An online pharmacy told U.S. regulators it found another cancer-causing chemical in widely prescribed blood-pressure pills, raising new questions about a complex global web of companies that produces medicine for millions of people. A solvent called dimethylformamide was discovered in …

from News – Insurance Journal

Lloyd’s Must Demonstrate Progress in Tackling Sexual Harassment: Bank of England

The Bank of England called for Lloyd’s of London to demonstrate progress in tackling the insurance market’s culture of sexual harassment. The BOE’s director of insurance supervision Anna Sweeney said she would work together with the Financial Conduct Authority to …

from News – Insurance Journal

Bayer Asks Judge to Overrule $2 Billion Monsanto Roundup Verdict

Bayer AG has asked a California judge to overrule a $2 billion verdict by jurors who found the company’s glyphosate-based Roundup weed killer responsible for a couple’s cancer, arguing the jury decision was not supported by evidence. The German drugmaker …

from News – Insurance Journal

Vietnam Culls More Than 2.5M Pigs to Contain Deadly African Swine Fever: Officials

Vietnam has culled more than 2.5 million pigs to contain the spread of an African swine fever outbreak that is in danger of infecting every province of the country, an agriculture ministry official said on Tuesday. The virus, which is …

from News – Insurance Journal

Greenhouse Gas Emissions Must Be Halved by 2030 to Avoid 3C Warming: Scientists

Emissions need to be halved by 2030 to limit warming to 1.5 degrees Celsius but temperatures are on track to reach double that by the end of the century even if countries’ current plans are fully implemented, research by scientists …

from News – Insurance Journal

Legacy Specialist Compre Completes 3 Run-Off Acquisitions

Compre, the London-based independent re/insurance legacy specialist, announced it has signed three transactions involving Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Co. Ltd. (Helvetia), and an undisclosed European insurance group. Compre has acquired each company’s share of the Gibbon Pools, …

from News – Insurance Journal

Caribbean Insurers’ Net Income Rebounds After 2016-2017 Hurricane Seasons: AM Best

An analysis of AM Best-rated property/casualty insurers based in the Caribbean found that overall net income rebounded significantly following the 2016-2017 hurricanes to $32.2 million in 2018 compared with a $4.3 million loss in the previous year. After losses in …

from News – Insurance Journal

Aspen Taps Brekenfeld from Lloyd’s as Director of Global Corporate Development

Aspen Insurance Holdings Ltd. announced that Joshua (Josh) Brekenfeld has been appointed director of Global Corporate Development. Brekenfeld joins Aspen from Lloyd’s of London where he spent six years in senior roles, most recently leading the business oversight relationship between …

from News – Insurance Journal

Alera Group Selects Englert as National P&C Leader

Alera Group, a national employee benefits, property/casualty, risk management and wealth management firm based in Deerfield, Illinois, has appointed Mark Englert as national property/casualty practice leader. Englert will be responsible for continuing Alera Group’s path toward building world-class property/casualty solutions. …

from News – Insurance Journal

Higginbotham in Texas Buys Commercial Insurance Unit of Extraco Banks

Extraco Banks has sold its commercial insurance operation to Fort Worth, Texas-based independent insurance broker, Higginbotham. Extraco Insurance is a group of five property/casualty insurance professionals operating in Waco, Temple and Hamilton, Texas, for 19 years. The group will continue …

from News – Insurance Journal

Company Cited, Fined $341K After Fatality at Texas Tire Retreading Facility

A Mississippi company faces more than $341,000 in penalties for failing to protect employees from serious safety hazards, a practice that led to a worker’s death at a plant in Texas, federal safety officials say. The U.S. Department of Labor’s …

from News – Insurance Journal

Chicago Staffing Firm to Pay $50K to Settle Sex Harassment Lawsuit

Chicago-based Staff Management | SMX (SMX), which provides temporary employees to the light-industrial sector worldwide, will pay $50,000 to a female former employee and furnish other relief to settle a sexual harassment lawsuit filed by federal officials. The U.S. Equal …

from News – Insurance Journal

Midwestern Floodwaters Harming Louisiana, Mississippi Seafood Businesses

This is a bad year for people who make their living from seafood in Louisiana and Mississippi. Floods from the Midwest are killing oysters, and driving crabs, shrimp and finfish out of bays and marshes, into saltier water where they …

from News – Insurance Journal

Viewpoint: Fixing America’s Flood Insurance Problem in 5 Steps

The National Flood Insurance Program (NFIP) was originally created by Congress to transfer U.S. flood insurance risk to private insurers. However, in 1978, (when private insurance carriers assumed over 40 percent of the nation’s flood insurance risk), NFIP administrators used …

from News – Insurance Journal

Facebook Plans Global Cryptocurrency, Entry into Financial Services

Facebook Inc. announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, …

from News – Insurance Journal

State Regulators Reviewing Proposed Sale of Workers’ Comp Specialist Applied Underwriters

A possible sale of workers’ compensation specialist Applied Underwriters looks to be a step closer to reality. The California Department of Insurance is reviewing an application for the sale of the Calif.-based Berkshire Hathaway subsidiary. CDI officials confirmed with Insurance …

from News – Insurance Journal

Tower Hill Specialty Adds Coverage Options in Mississippi

Tower Hill Specialty has further expanded into the Southeast and is now offering manufactured housing and dwelling fire insurance policies in Mississippi. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown option provides coverage for items …

from News – Insurance Journal

10 Arrests Made in Florida Unlicensed Contractor, Workers’ Comp Fraud Sting

Ten individuals have been arrested in a three-day unlicensed contracting and workers’ compensation fraud sting in Pinellas County, Fla., according to a statement from Florida CFO Jimmy Patronis. The joint operation between fraud detectives with the Florida Department of Financial …

from News – Insurance Journal

Kentucky Bourbon Warehouse Damaged in Partial Collapse

Part of a bourbon warehouse in western Kentucky collapsed during a thunderstorm. News outlets report the partial collapse of the O.Z. Tyler Distillery rickhouse was reported early Monday. Master Distiller Jacob Call says around 20,000 barrels are stored at the …

from News – Insurance Journal

Stringent Climate Policy Poised to Pass in Oregon

Oregon is on the precipice of becoming the second state after California to adopt a cap-and-trade program, a market-based approach to lowering the greenhouse gas emissions behind global warming. Supporters call it the United States’ most progressive climate policy, saying …

from News – Insurance Journal

Cal/OSHA Cites Solar Panel Installer $193K for Willful Fall Protection Violation

Cal/OSHA has cited an Anaheim, Calif. solar panel installation company $193,905 for multiple serious workplace safety hazards including one willful serious accident-related violation, following an investigation of a worker who was seriously injured after they fell from the roof of …

from News – Insurance Journal

Professional Insurance Agents of New Jersey Elects Blum President

Professional Insurance Agents of New Jersey (PIANJ) has elected Bruce Blum of Somerset, N.J., president at the association’s annual business meeting at Harrah’s in Atlantic City. Blum is owner of Blum & Walsh Group Inc., a division of T.E. Freuler …

from News – Insurance Journal

New York Senator Schumer Calls for Repairs to Lake Ontario Infrastructure

New York Senator Chuck Schumer plans to call on the Army Corps of Engineers to provide funding for repairs to flood-ravaged infrastructure at Little Sodus Bay Harbor on Lake Ontario. A pier and a barrier bar began to collapse in …

from News – Insurance Journal

Sen. Rubio Bill Would Block Patent Damage Claims by Foreign Firms on Watch List

U.S. Senator Marco Rubio filed legislation on Monday that would prevent Huawei Technologies Co. Ltd. from seeking damages in U.S. patent courts, after the Chinese firm demanded that Verizon Communications Inc. pay $1 billion to license the rights to patented …

from News – Insurance Journal

Operator Cleared of Fault in Boston Red Line Derailment

Transit officials say the operator of a Red Line train that derailed in Boston this week was not at fault in the mishap. An MBTA spokesman tells The Boston Globe that the investigation into last Tuesday’s derailment, the second within …

from News – Insurance Journal

Spragg Named President of Berkley Select

W.R. Berkley Corp. announced the appointment of Daniel R. Spragg as president of its specialty unit, Berkley Select. Spragg has 30 years of experience in the specialty insurance and insurance consulting industries. He most recently served as founding partner of …

from News – Insurance Journal

MS Amlin Names RSA’s Vogiatzidou as Senior Marine Underwriter in Dubai

MS Amlin, the London-based re/insurer, announced the appointment of Mary Vogiatzidou to the role of senior marine underwriter. Vogiatzidou will be based in MS Amlin’s Dubai office and will be responsible for the continued development and growth of the marine …

from News – Insurance Journal

Digital Car Repair Platform Fixico Raises €7M to Expand Internationally

Fixico, the Amsterdam-based digital platform for car damage repair, has raised €7 million ($7.9 million) to grow its international footprint and fleet and insurance partnerships. The technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, …

from News – Insurance Journal

Arthur J. Gallagher Acquires Australia Workplace Risk Consultant P2 Group

Arthur J. Gallagher & Co. announced the acquisition of Hawthorn, Victoria-based P2 Group. Terms of the transaction were not disclosed. Founded in 2003, P2 Group helps employers proactively manage occupational health and reduce the risk of worker injuries and WorkCover …

from News – Insurance Journal

Lloyd’s of London Aims to Revamp Auto Coverage as Era of Driverless Cars Looms

Lloyd’s of London, the 330-year-old insurance market, is pushing to revamp auto coverage as the rise of driverless cars looms. Chief Executive Officer John Neal said that Lloyd’s is talking with automakers about how to set up different policies to …

from News – Insurance Journal

China’s Fosun Eyes Purchase of Bayer’s Animal Health Business: Sources

Fosun International Ltd. is considering a bid for Bayer AG’s animal-health business, people familiar with the matter said, a move that could mark a return to big-ticket deals for the Chinese conglomerate backed by billionaire Guo Guangchang. Fosun has held …

from News – Insurance Journal

PERILS Buys Canada’s Catastrophe Loss & Exposure Analysis Firm CatIQ

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has acquired Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ). Financial details of the deal were not disclosed. Established in 2014, CatIQ provides catastrophe loss and exposure information in Canada, …

from News – Insurance Journal

What to Expect from Florida’s AOB Reform Law Taking Effect July 1

The countdown is on for Florida assignment of benefits (AOB) reform that will take effect July 1, and the insurance industry is getting ready to respond to new requirements as a result of the law as well as evaluating how …

from News – Insurance Journal

After Lawmakers Abolish State Plumbing Licensing Board; Texas Governor Revives It

Heading off the prospect of everyone in Texas being able to call themselves plumbers, Gov. Greg Abbott extended the Texas State Board of Plumbing Examiners and its licensing law until 2021 via an executive order. The Texas State Board of …

from News – Insurance Journal

Chicago to Partner with Gallagher in Overhaul of City’s Workers’ Comp Program

Chicago Mayor Lori E. Lightfoot said the city will partner with Gallagher Bassett, an international public sector claims administrator, as well as Gallagher Global Brokerage Risk Program Administrators, to overhaul and professionalize Chicago’s workers’ compensation program after an independent audit …

from News – Insurance Journal

Michigan’s High Street Insurance Names Tuitas Sr. Partner, CFO

High Street Insurance Partners (High Street), a Michigan-based provider of commercial insurance, personal lines and employee benefits services, has appointed Dave Tuitas as senior partner and chief financial officer. Tuit joins a management team led by High Street executives Scott …

from News – Insurance Journal

Overcoming Dearth of Data Remains Key to Cyber Insurance Underwriting, Say Experts

While there are “huge opportunities” on the horizon for the cyber insurance industry, cyber insurance underwriters still face the challenge of not having enough historical data to work with. “It’s really scary to underwrite something when you just don’t know …

from News – Insurance Journal

D&O Insurance Costs Soar as Investors Run to Court Over IPOs

Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A rise in securities class-action cases involving initial …

from News – Insurance Journal

Supreme Court Returns Gay Wedding, Religion Rights Case to State

The U.S. Supreme Court ordered reconsideration of a $135,000 award against an Oregon bakery that refused to make a cake for a same-sex wedding in a case that revived a fractious debate over religious rights and equal treatment. After more …

from News – Insurance Journal

Court Relieves Insurers of $65 Million Payment Linked to Stanford Ponzi Scheme

A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …

from News – Insurance Journal

Former Tenn. Insurance Head McPeak Joins Greenberg Traurig Law Firm in Nashville

Former Tennessee Insurance Commissioner Julie Mix McPeak, who stepped down as the head of the Tennessee Department of Commerce and Insurance Commissioner last month, will join the global law firm Greenberg Traurig, P.A., in the firm’s Insurance Regulatory and Transactions …

from News – Insurance Journal

Hub Acquires Assets of Atlanta-based Insurtech In-Fi; Hires Chasteen

Hub International Limited, has acquired the assets of CBIS, LLC, d/b/a “In-Fi” (In-Fi). Terms of the transaction were not disclosed. Established in 2016 by co-founder Jon Chasteen, In-Fi developed a distribution platform for financial institutions, which utilizes technology and automation …

from News – Insurance Journal

Alexa, Why Was a Lawsuit Filed Against You?

If Big Brother isn’t watching, maybe his little sister is listening. An international law firm has filed a federal lawsuit against Amazon.com Inc., alleging that the company’s Alexa virtual assistant product violated privacy laws in Massachusetts and seven other states …

from News – Insurance Journal

Alabama Tyson Foods Plant Waste Water Spill Spreads E. Coli in Rivers

Alabama environmental officials say another waste water spill from a Tyson Foods plant has contaminated rivers with E. coli and killed an untold number of fish. News outlets report up to 800,000 gallons of waste water spilled last week from …

from News – Insurance Journal

Small Quake Confirmed Near Central California Town

The U.S. Geological Survey confirmed a magnitude 3.2 earthquake hit central California. The agency says the earthquake hit a spot 11.4 miles southwest of Darwin, a town of about 36 people, at 6:48 p.m. The agency says the earthquake had …

from News – Insurance Journal

TigeRisk Names Frase Partner in California

TigerRisk Partners LLC has named Lindsey Frase a partner and member of its North American current client division. Frase will report to Wade Gulbransen, global head of reinsurance. Frase started her reinsurance industry career working for Guy Carpenter. In 2006 …

from News – Insurance Journal

Trump Declares Disaster in Six Vermont Counties

President Donald Trump has made a disaster declaration for Vermont’s Bennington, Essex, Orange, Rutland, Washington and Windsor counties for flooding in April. Vermont Gov. Phil Scott says a preliminary assessment by the Federal Emergency Management Agency identified more than $2 …

from News – Insurance Journal

Officials Say Multi-Million Dollar Loss in Nine-Alarm Boston Fire

Authorities in Boston say a fire that started at a vacant property and spread to nearby homes likely caused millions of dollars in damages. The Boston Fire Department tweeted that the cause of Saturday evening’s nine-alarm fire on the border …

from News – Insurance Journal

Moving Companies Owner Pleads Guilty to More Than $1M Fraud Conspiracy

A New Jersey man who owned moving companies has admitted cheating customers by low-balling estimates and then jacking up prices once the goods were on his trucks. Rami Zubidat of Clifton on Wednesday pleaded guilty in federal court to conspiracy …

from News – Insurance Journal

Insurer Must Cover Defendant in Fatal Bathroom Fight Lawsuit

A Delaware judge says an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a school bathroom attack captured on cellphone video that left a 16-year-old girl dead. The judge ruled Wednesday …

from News – Insurance Journal

How Trump Is Remaking Health Insurance Without Repealing Obamacare

President Donald Trump’s attempt to transform American health insurance is almost complete. Twenty months ago, frustrated after attempts to repeal Obamacare fell apart in the Republican-controlled Senate, Trump pledged to use executive power to do what Congress failed to legislate. …

from News – Insurance Journal

Geneva Association Elects 4 Board Members from Ping An, Prudential, PICC and Aviva

The Geneva Association, the global organization of insurance and reinsurance chief executive officers (CEOs), announced the election of four new board members. They are: Yuansiong Lee, co-CEO, Ping An Insurance Co. of China; Charles F. Lowrey, CEO, Prudential Financial; Jianmin …

from News – Insurance Journal

UK Business Executives Grow Increasingly Angry at Brexit Deadlock

There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on leaving the European Union …

from News – Insurance Journal

InsurTech Innovation Challenge European Winner Is Riskbook, Says ACORD

ACORD, the global standards body for the insurance industry, has announced that Riskbook was the winner of the London semi-final round of the ACORD InsurTech Innovation Challenge (AIIC), with RITA and Optimiz.Claims named as runners up. Riskbook is focusing on …

from News – Insurance Journal

Russian Aeroflot Plane Hit by Lightning Before It Crashed, Killing 41: Investigators

Lightning struck a Russian Sukhoi Superjet 100 aircraft knocking out its auto pilot system shortly before it crash landed in Moscow last month killing 41 people, investigators said on Friday, adding it had approached too fast and been too heavy. …

from News – Insurance Journal

City of London Tackles Its Daytime Drink Problem – One Institution at a Time: Opinion

For most of the traders, bankers, lawyers and accountants who populate the City of London, the era of excessive daytime boozing is long gone. Pubs and pints have been replaced by coffee shops and lattes. Dealmaking hasn’t suffered for it. …

from News – Insurance Journal

Iranian Forces Were Likely Responsible for Attacks on Tankers, Says Insurer DNK

Iranian forces were likely responsible for the attacks that occurred Thursday on two tankers in the Gulf of Oman, according to a report seen by Bloomberg from DNK, the insurer of one of the ships. The Norwegian insurer has raised …

from News – Insurance Journal

War Risk Insurance Premiums Surge for Oil Tanker Owners After Gulf Attacks

Oil tanker owners face spiraling insurance costs to load cargoes from the world’s largest crude-export region after the latest round of attacks on vessels. War risk premiums that owners pay each time they go to the Persian Gulf have now …

from News – Insurance Journal

Florida Hopes to Lure Autonomous Car Companies Under New Law

Self-driving vehicles with no humans on board will be able to operate in Florida – once they’re finally ready for prime time – under a bill signed Thursday by Gov. Ron DeSantis. DeSantis said he hopes to use the law …

from News – Insurance Journal

PURE Programs Expands High Value Homeowners Coverage into 5 New States

PURE Programs has expanded its coverage for high value homeowners into Texas, Louisiana, Mississippi, Alabama, and Georgia. Across the region, PURE Programs will offer coverage for homes with a rebuilding cost of $1 million to $50 million that do not …

from News – Insurance Journal

Kansas Supreme Court Throws Out Personal Injury Damages Cap

The Kansas Supreme Court on Friday ruled that the state’s cap on damages for noneconomic injuries in personal injury lawsuits is unconstitutional. The court ruled 4-2 that capping damages an injured person is able to recover in a lawsuit violates …

from News – Insurance Journal

Drugmakers Sue to Halt Rule on Prices in TV Ads

U.S. drugmakers on Friday filed a lawsuit to prevent the companies from disclosing the list price of prescription drugs in direct-to-consumer television advertisements as per a newly proposed government regulation. The lawsuit was jointly filed by Amgen Inc, Merck & …

from News – Insurance Journal

Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008

In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached $19 billion in inflation-adjusted …

from News – Insurance Journal

Plaintiffs Suing Drug Firms Propose Opioid Settlement to Involve Every U.S. County, Municipality

Lawyers representing county and municipal governments accusing drug manufacturers and distributors of fueling the U.S. opioid epidemic proposed a novel plan on Friday that would allow every community nationally to participate in negotiating billions of dollars in settlements. The proposal …

from News – Insurance Journal

Kochilaris Joins Florida Homeowners Insurer Olympus as Sales Manager

Florida-based Olympus Insurance Co. has added Nathan Kochilaris as the company’s new Southwest Florida Sales manager. Kochilaris will work under Vice President of Sales and Marketing Crystal McInnis. Kochilaris has experience in both the insurance and real estate sectors. He …

from News – Insurance Journal

Uber, Lyft Appeal for Deal on Driver Status as Independent Contractors

Faced with legislation in California that endangers their business model, Uber Technologies Inc. and Lyft Inc. are urging a compromise that would keep their drivers from being considered employees. “We can make independent work better if we update century-old employment …

from News – Insurance Journal

Rebranded Crime App Aims for ‘People-Powered Public Safety Net’

One afternoon in late October 2017, hundreds of students from the elite Avenues private school in Manhattan were loaded onto buses, ready to head home. Suddenly, school principal Abby Brody got a disturbing smartphone alert. The crime-tracking app Citizen buzzed …

from News – Insurance Journal

AGCS Appoints Kadow as Global Head of Marine; Fadden Named Global Head of Aviation

Allianz Global Corporate & Specialty SE (AGCS) is rearranging roles in the management team of its Specialty business segment. Effective July 1, 2019, Ulrich Kadow will be appointed as AGCS global head of Marine. Effective immediately, Tom Fadden will be …

from News – Insurance Journal

El Niño Conditions Likely to Continue Through Summer

There is a 66% chance that the Northern Hemisphere will see persisting El Niño conditions in the summer of 2019, the National Weather Service’s Climate Prediction Center (CPC) said in its monthly forecast on Thursday. “The current downwelling oceanic Kelvin …

from News – Insurance Journal

OSHA Proposes Nearly $1.8M in Fines After Roofer’s Death in Maine

The federal Occupational Safety and Health Administration has proposed nearly $1.8 million in fines for a Maine roofing contractor after an employee died in December. An OSHA spokesman told the Portland Press Herald that the fine against Shawn Purvis is …

from News – Insurance Journal

Threat of No-Deal Brexit Isn’t Likely to Win EU Concessions: UK Business Chief

Threatening to leave the European Union without a deal isn’t likely to win Britain concessions from the bloc, the country’s biggest business group said in a warning to candidates jostling to succeed Prime Minister Theresa May. “I’ve never felt it …

from News – Insurance Journal

Insurers Appoint Dutch Marine Engineer to Salvage Oil Tankers in Gulf of Oman

Dutch marine engineer Boskalis said on Friday it had has been appointed to salvage both tankers that were hit in the Gulf of Oman in a suspected attack. Boskalis said the condition of the Front Altair tanker, carrying a cargo …

from News – Insurance Journal

China ‘Should Focus’ on Financial Market Reforms, Rather Than Restricting U.S. Firms

China should focus on market reforms and avoid restricting access for U.S. financial firms if the trade war escalates and spills into the financial sector, said a lobby group representing global banks and asset managers. The Asia Securities Industry & …

from News – Insurance Journal

Maryland’s Frederick Mutual Promotes Showalter to Vice President

Frederick Mutual, a Frederick, Md.-based insurance company, has promoted Jill Showalter to vice president and chief insurance operations officer. Showalter initially joined Frederick Mutual on October 2, 2017, as its new regional vice president. In this role, she was responsible …

from News – Insurance Journal

Canada Expands Credit Insurance for Canola Exporters as China Dispute Continues

Ottawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China. China halted purchases of Canadian canola in March, citing pests in shipments by …

from News – Insurance Journal

Swiss Re’s UK Unit, ReAssure, Gets Ready for IPO in July

Swiss Re AG confirmed that its U.K.-based ReAssure Group Plc unit intends to undertake an initial public offering, giving the business firepower to expand its closed life and pension business. The company is expected to begin trading in London in …

from News – Insurance Journal

Official Says Pilot Who Crashed Helicopter in NYC Radioed He Was Lost

The pilot killed when his helicopter hit the roof of a New York City skyscraper in rain and fog radioed that he was lost and trying to get back to the heliport but couldn’t find it, an official briefed on …

from News – Insurance Journal

Insurance Rates for Crude Oil Tankers to Jump After Gulf Attacks

Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their ships paused bookings on Thursday as …

from News – Insurance Journal

Oklahoma Workers’ Comp Commission to Hire External Consultant for Fee Schedule Review

The Oklahoma Workers’ Compensation Commission (WCC) reports that as a result of the passage of legislative revisions to 2013 workers’ compensation reforms, it is required to review and update the schedule of fees by which doctors who treat injured workers …

from News – Insurance Journal

Texas Company to Pay $75K to Settle Disability Discrimination Suit

L-3 Communications, a large defense contractor with facilities in Texas, will pay $75,000 and furnish other relief to settle a federal disability discrimination lawsuit. According to the lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), an engineer hired …

from News – Insurance Journal

Hicks Named Sr. VP, Chief Human Resources Officer for Farmers Alliance Cos.

Ryan Hicks has been named senior vice president, chief human resources officer for the Farmers Alliance Companies in McPherson, Kansas. With this promotion, Hicks becomes a member of the executive management team. Hicks joined Farmers Alliance in early 2016, after …

from News – Insurance Journal

Feds Cite Texas Cancer Center For Patient Care, Safety Problems

A prominent cancer hospital in Houston will be subject to more aggressive federal oversight after authorities found the facility in violation of serious hospital requirements for patient care and safety. The clampdown on MD Anderson Cancer Center follows an “adverse …

from News – Insurance Journal

16 More Alumni Sue Ohio State Over Abuse by Team Doctor

Sixteen more Ohio State University alumni have sued the university over how school officials dealt with a team doctor who an investigation recently concluded had sexually abused at least 177 young men between 1979 and 1997. The federal case filed …

from News – Insurance Journal

Iowa Woman Gets Probation in $14K Insurance Fraud Case

A southeastern Iowa woman has been sentenced to two years’ probation and ordered to pay more than $14,000 in restitution and penalties for insurance fraud. The Iowa Insurance Division said in a news release that 39-year-old Brandy Voss, of Oskaloosa, …

from News – Insurance Journal

Family Sues Cruise Line, Alleging It Would Not Let Heart Attack Victim Off Ship

The family of Jeffrey Eisenman, a 65-year-old passenger on the Carnival Sunshine, alleges in a lawsuit that the world’s largest cruise company wouldn’t let him off of the ship after he suffered a heart attack last December. Eisenman died on …

from News – Insurance Journal

Scientists Vow to Report Flood Risk for Every U.S. Property for Free

In a major research undertaking, a group of scientists and a technology nonprofit technology organization have set a mission to calculate the past, current and future flood risk of every property in America. While institutional real estate investors and insurers …

from News – Insurance Journal

BB&T, SunTrust to Rebrand as Truist; North Carolina Headquarters Announced

BB&T Corporation and SunTrust Banks, Inc., will rebrand as Truist after the two companies combine through their planned merger, announced earlier this year. According to the companies, Truist will be the sixth-largest U.S. bank holding company serving more than 10 …

from News – Insurance Journal

Georgia Gov Appoints Police Chief King as Insurance Head During Beck Suspension

An Atlanta-area police chief was appointed by Georgia’s governor Wednesday to head the state’s insurance commission after the previous commissioner was indicted on federal charges. Republican Gov. Brian Kemp announced that Doraville Police Chief John King will fill the office …

from News – Insurance Journal

U.S. Safety Board: Fatal Oklahoma Well Blast shows Need for New Rules

An investigation into an explosion at an Oklahoma natural gas drilling rig that killed five workers last year faulted inadequate training and equipment and called for new regulations, the U.S. safety regulator said. The Pryor Trust gas well in Pittsburgh …

from News – Insurance Journal

$200M Settlement Reached in Tribune Leveraged Buyout Fraud Case

Real estate billionaire Sam Zell and other former officers and directors of Tribune Co. have reached a $200 million settlement resolving allegations of fraudulent transactions related to the media company’s disastrous 2007 leveraged buyout. Marc Kirschner, a litigation trustee representing …

from News – Insurance Journal

Wyoming Expecting Average Wildfire Conditions

Average conditions are predicted for the Wyoming wildfire season this year, but officials say they expect the season to be less severe than last year. Wyoming Public Radio reports State Forester Bill Crapser says fire predictions are below average for …

from News – Insurance Journal

Berkley Names Argo’s Edwards as President of Verus Underwriting Managers

W. R. Berkley Corp. has appointed Marlo M. Edwards as president of Verus Underwriting Managers. Edwards succeeds Dale H. Pilkington, who is retiring. Edwards joins Verus with 20 years of experience in the property/casualty insurance industry. She most recently served …

from News – Insurance Journal

Washington Insurance Fraud Cases Result in Guilty Pleas

Two insurance fraud suspects pleaded guilty and one suspect entered a diversion program after investigations by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. Abdikarin A. Mohamed pleaded guilty in King County Superior Court to one count of filing a false …

from News – Insurance Journal

Stereotype of Salesperson as Liar Too Often Accepted as Sign of Competence

Everybody says they don’t like liars. But when it comes time to negotiating a big sale, it turns out people tolerate those who stretch the truth, and even expect it. New research from the University of Chicago Booth School of …

from News – Insurance Journal

California Man with Brain Damage to Get $5.2M in Taser Lawsuit

Sacramento will pay $5.2 million to the family of a man who was repeatedly shocked by police Tasers and left with severe brain damage, according to a newspaper report. The City Council voted in a closed-door session to settle an …

from News – Insurance Journal

Lawsuit Filed for ‘Defective’ Products Linked to London’s Grenfell Tower Fire Disaster

Three U.S. companies have been slapped with a wrongful death and products liability lawsuit for manufacturing products linked to London’s Grenfell tower fire. The fire, which has been called the worst UK residential fire since the 2nd World War, killed …

from News – Insurance Journal

Fitch Says 2019 Could Be Better Than 2018 for Commercial Insurance

Fitch Ratings said it maintains a stable outlook for U.S. commercial lines, reflecting the potential for moderately better underwriting profits and the ability of insurers to withstand potential adversity due to capital strength. Direct statutory written premiums in the U.S. …

from News – Insurance Journal

Massachusetts’ PMC Insurance Group Hires Coalson as VP, Senior Broker

PMC Insurance Group, a Bedford, Mass.-based, national workers’ compensation program administrator, wholesaler and solution provider, has hired Chris Coalson as vice president and senior broker. Prior to joining PMC, Coalson held the position of chief marketing officer at All Insurance …

from News – Insurance Journal

Cook Maran Hires Roberts in NYC as Private Client Advisor for Personal Insurance

Cook Maran, a Prime Risk partner, recently hired Elliot Roberts as a private client advisor for Personal Insurance. He will operate out of the Cook Maran office in New York City. Roberts was previously vice president of Fine Art Underwriting …

from News – Insurance Journal

Emails Suggest CEO Zuckerberg Aware of Facebook’s Privacy Faults, WSJ Reports

Facebook Inc. emails appear to show Chief Executive Officer Mark Zuckerberg’s involvement in discussions about its much criticized privacy practices, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The newspaper said reporters had not seen …

from News – Insurance Journal

Boston Transit Head Seeks Outside Review After Two Derailments

The head of the Boston-area transit system promised an independent review of recent subway derailments after one during Tuesday’s morning rush caused widespread disruption for commuters. Steve Poftak, general manager of the Massachusetts Bay Transportation Authority, said investigators were trying …

from News – Insurance Journal

Pilot Killed in New York Crash Wasn’t Certified to Fly in Bad Weather

The pilot killed Monday when his helicopter slammed into the roof of a New York City skyscraper was not authorized to fly in limited visibility, according to his pilot certification, raising questions about why he took off in fog and …

from News – Insurance Journal

Britain Commits to Net Zero Greenhouse Gas Emissions by 2050

Britain has announced it will enshrine a new commitment to reach net zero greenhouse gas emissions by 2050 into law, marking a first among G7 nations facing increasingly severe impacts from the climate crisis. With global carbon emissions at record …

from News – Insurance Journal

Jury Orders J&J, Colgate to Pay Almost $10 Million in Talc Case

Johnson & Johnson and Colgate-Palmolive Co. must pay almost $10 million to a dying California woman who blamed the companies’ talc-based products for her rare cancer. The jury verdict in state court in Oakland is another setback for J&J, the …

from News – Insurance Journal

Two Oil Tankers Damaged Near Strait of Hormuz After ‘Suspected Attack’

The U.S. Fifth Fleet said two oil tankers were damaged in an incident near the Strait of Hormuz that one of the ships’ operators described as a suspected attack. Oil prices surged. The development will inflame already-rising political tensions in …

from News – Insurance Journal

EU Says It’s Ready for ‘Undesirable’ No-Deal Brexit, but Some Insurers Are Unprepared

The European Union said it’s ready for the U.K. to leave the bloc without a deal and isn’t planning any further contingency measures. In a progress report on its no-deal Brexit planning, the European Commission said Britain departing without an …

from News – Insurance Journal

Reinsurance Broker Guy Carpenter Suspends Two Over Harassing Email

A Lloyd’s of London insurance broker, Guy Carpenter & Co., suspended an executive for sending a sexually suggestive email about a female colleague. A second employee was suspended for forwarding the message outside the firm. “We take all incidents of …

from News – Insurance Journal

North Carolina Lawmakers Disagree Over Watered Down Hands Free Bill

Weeks after North Carolina House members watered down a distracted driving bill, state senators want to restore robust language that would prohibit drivers from holding their cellphones. Republican lawmakers and parents of children who died in distracted driving accidents held …

from News – Insurance Journal

Talk of Managing Earth as an Asset Wins Over Congressional Climate Change Skeptic

In a break from years of acrimony over basic science, House Budget Committee members on Tuesday tripped over each other to agree that climate change is not only real but caused by humans. “The last decade has seen dramatic advances …

from News – Insurance Journal

Atlas Hires Caldwell as Account Manager in North Carolina

Atlas Insurance Management, a captive insurance management firm, has hired Spencer Caldwell as an account manager to its office in Charlotte, N.C. Spencer previously worked as a captive financial analyst for the North Carolina Department of Insurance, in Raleigh, N.C. …

from News – Insurance Journal

Former Florida Association for Insurance Reform Expands Nationally, Focus on Flood

The Federal Association for Insurance Reform (FAIR), formerly the Florida Association for Insurance Reform, is expanding nationwide with a focus on reducing uninsured flood risk across the United States. FAIR is a non-partisan, non-profit consumer advocacy group focused on providing …

from News – Insurance Journal

Aon’s Specht Joins Cyber Insurance Agency Coalition as the Head of Affinity

Cyber insurance and cybersecurity agency Coalition announced the addition of Brian Specht as the head of Affinity to help the agency reach a broader spectrum of businesses and industries. Specht brings 30 years of experience from Aon, Ryan Specialty Group, …

from News – Insurance Journal

California Heat Stokes Fire Risk, Residents Asked to Curb Power Use

A second day of unrelenting heat is scorching California, sending temperatures to near record levels, raising risk of wildfires and prompting calls for energy conservation. Temperatures surged past 100 degrees Fahrenheit in parts of Northern California Tuesday, with heat advisories …

from News – Insurance Journal

BHSI Opens Office in S. Australia, Taps Holland from Chubb as Underwriting Manager

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its presence in Australia to South Australia, opening an office in Adelaide and naming Monica Holland as underwriting manager. Holland will work closely with BHSI’s team in Melbourne to deliver the …

from News – Insurance Journal

AXIS Re Names Sweeting from Vibe Syndicate as Head of Lloyd’s Casualty Reinsurance

AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd., announced the hiring of Joe Sweeting as head of Lloyd’s Casualty Reinsurance. In this role, Sweeting will be responsible for managing all aspects of AXIS Re’s casualty business at …

from News – Insurance Journal

British Hacker Gets 4 Years in Jail for TalkTalk Data Breach

A British man who hacked TalkTalk Telecom Group Plc, blackmailed executives and offered to supply customer data has been jailed for four years. Daniel Kelley, 22, was sentenced after pleading guilty to 11 charges of hacking and blackmailing TalkTalk, London …

from News – Insurance Journal

Medical Errors in Massachusetts Cost Hundreds of Millions

A new survey has found that nearly 62,000 medical errors in Massachusetts in one year cost about $617 million for follow-up care. The Boston Globe reports that the survey released Monday by the Betsy Lehman Center for Patient Safety is …

from News – Insurance Journal

China’s Anbang Insurance to Begin Selling Waldorf-Astoria Luxury Condos

China’s Anbang Insurance Group Co. is scouring the globe for condo buyers looking for a little — or a lot — of Park Avenue glamour. Four years after buying the famed Waldorf Astoria for a record $1.95 billion, the insurer …

from News – Insurance Journal

New Jersey’s SageSure Insurance Managers Appoints Lange, Scott as Vice Presidents

SageSure Insurance Managers, a Jersey City, N.J.-headquartered subsidiary of Insight Catastrophe Group (ICG), has appointed Alan Lange as vice president of Homeowners Pricing Actuary and Tawana Scott as vice president of Commercial Insurance Product. In 2018, SageSure announced it will …

from News – Insurance Journal

Risk Strategies Adds Humphreys to National Health Care Practice in Philadelphia

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has added Ward Humphreys as senior vice president to the reinsurance team of its National Health Care Practice. His hiring is part of an ongoing strategic effort by …

from News – Insurance Journal

Al Specialists omni:us and FRISS Partner to Offer Claims, Fraud Detection Services

Two artificial intelligence providers — omni:us and FRISS — are teaming up to “supercharge” insurance claims management and fraud detection. omni:us is a provider of AI-based cognitive claims management service, while FRISS is a provider of AI-powered fraud and risk …

from News – Insurance Journal

Video Believed to Show Helicopter Flying Erratically Before New York Crash

The helicopter that slammed into the roof of a Manhattan high-rise building on Monday was apparently captured on video minutes earlier flying erratically, and investigators are trying to determine whether the pilot should have taken off in the decaying weather. …

from News – Insurance Journal

Motorbike Taxi Firms to Offer E-payment, Insurance Services in West Africa

Motorcycle taxi companies are expanding in West Africa with backing from investors betting that the meteoric rise of two-wheeled taxi firms in Asia can be replicated in some of the fastest growing countries in the world. Four bike taxi firms …

from News – Insurance Journal

Hub International Acquires Canada Retirement Consulting Firm Porchlight Financial

Insurance broker Hub International Ltd. announced it has acquired Porchlight Financial, based in Vancouver, British Columbia. Terms of the transaction were not disclosed. Porchlight Financial is a full-service group retirement plan consulting firm with 25 years of experience in helping …

from News – Insurance Journal

Lemonade’s European Expansion Begins in Germany

Lemonade is making good on its promise to expand into Europe, with news that it is now open for business in Germany. The New York-based startup said it has started offering contents and liability insurance in Germany, instantly, anytime and …

from News – Insurance Journal

UK’s Legal & General Partners with Amazon to Create Blockchain System for Pensions

British insurer Legal & General has teamed up with Amazon to establish what it said is the first blockchain system for corporate pension deals. The insurer said it would use a managed blockchain system launched by Amazon Web Services (AWS) …

from News – Insurance Journal

Everest Insurance, All Risks Expand Workers’ Comp Coverage for Marine Risks

Everest Insurance has joined with All Risks, Ltd. to expand its workers’ compensation capabilities for the marine industry. Through this program, brokers will have access to workers’ compensation, United States Longshore & Harbor Workers (USL&H) and marine employers liability (MEL) …

from News – Insurance Journal

Florida Insurer American Integrity Appoints Ritchie as COO

Tampa, Fla.- based American Integrity Insurance has appointed Executive Vice President Jon Ritchie as chief operating officer. He will continue to report to Bob Ritchie, president and CEO. In this role, Jon Ritchie will work closely with the CEO and …

from News – Insurance Journal

Report: North Carolina Agency Mishandled Distribution of $9M in Matthew Recovery Funds

The North Carolina Department of Public Safety broke the law and didn’t follow legislative directives when distributing $9 million of state money after Hurricane Matthew hit in 2016, according to a report Monday from the General Assembly’s government watchdog agency. …

from News – Insurance Journal

West Virginia Governor to Pay $1M Fine Ordered Against Family Company

West Virginia Gov. Jim Justice has agreed to pay a $1.23 million court-ordered sanction against one of his family’s companies. Justice’s lawyers and federal prosecutors said in a joint court filing Thursday that they’ve reached a deal for Justice Energy …

from News – Insurance Journal

New ‘Prepare Florida’ Initiative Offers Hurricane Preparedness Resources

Florida Chief Financial Officer (CFO) Jimmy Patronis has launched an initiative designed to encourage Floridians to prepare now before a hurricane makes landfall. According to a statement from the Florida Department of Financial Services, the new Prepare Florida initiative will …

from News – Insurance Journal

U.S. Spends Billions on Disaster Aid Over Investing in More Lasting Preparedness

Forecasters are expecting this year’s North Atlantic hurricane season to be roughly average, with about 14 named storms including six full-fledged hurricanes. Last week, the government finally dealt with the fallout from 2018, enacting a $19.1 billion relief package to …

from News – Insurance Journal

Study Debunks Theory That Legalized Marijuana Helps Prevent Opioid Deaths

A new study shoots down the notion that medical marijuana laws can prevent opioid overdose deaths, challenging a favorite talking point of legal pot advocates. Researchers repeated an analysis that sparked excitement years ago. The previous work linked medical marijuana …

from News – Insurance Journal

Doctor in Oklahoma Trial Says J&J Pushed Opioids Even After Abuse Became Known

Oklahoma’s star witness told a state judge that Johnson & Johnson pressed doctors to prescribe its painkillers even as the potentially fatal addictive threat posed by the drugs became clear more than a decade ago. The judge, Thad Balkman, is …

from News – Insurance Journal

California Surplus Lines Stamping Fee Goes to 0.25% in 2020

The Surplus Line Association of California board has voted to adjust the stamping fee to 0.25%, effective Jan. 1, 2020, the group announced on Tuesday. The stamping fee has been set at 0.2 percent for seven years, the longest recorded …

from News – Insurance Journal

London Market Broker BMS Partners with BitSight to Provide Cyber Risk Analysis

BMS Group, the London-based independent specialist re/insurance broker, has partnered with BitSight, a cyber security ratings company, to provide cyber risk analysis services to BMS clients across all lines of business. “BitSight’s security ratings platform provides the most comprehensive and …

from News – Insurance Journal

Regulators Warn But Slow to Fix Blind Spots on Rising Risky Corporate Debt

The steady drumbeat of warnings over the surge in risky corporate borrowing is growing louder and louder. Time and again, regulators in the U.S. and Europe have pointed to the hazards of businesses taking on too much debt. At issue …

from News – Insurance Journal

Aon Hires 2 Former Co-Heads of JLT’s Insurance-Linked Securities Unit

Aon Securities, the insurance-linked securities unit of Aon, announced it has hired Michael Popkin and Rick Miller, the former co-heads of JLT Capital Markets. Miller and Popkin start their new roles with immediate effect, reporting to Paul Schultz, chief executive …

from News – Insurance Journal

Elk Damage to Washington Farms Estimated at $1.4M

The growing elk population in the Skagit County, Wash. is costing farmers $1.4 million a year, according to a new estimate. That figure is slightly down from the $1.5 million estimate released in January, the Skagit Valley Herald reported Saturday. …

from News – Insurance Journal

EPA Drilling into Colorado Mine for Superfund Cleanup Investigation

The U.S. Environmental Protection Agency plans to drill a test well into an inactive mine tunnel in southwestern Colorado to get information for a Superfund cleanup, the agency said. The EPA said it will drill into the American Tunnel next …

from News – Insurance Journal

Hammer Sparks Led to California’s Mendocino Blaze

California fire officials say sparks from a hammer driving a metal stake into the ground ignited a 2018 blaze in Northern California that killed a firefighter and became the largest wildland fire in state history. The California Department of Forestry …

from News – Insurance Journal

Moose Vs. Auto Incidents on Rise in Western Wyoming

Cars and trucks are killing a lot of moose near an intersection in western Wyoming. Recently vehicles killed two moose in a week near the intersection of Wyoming highways 22 and 390 a few miles (5 kilometers) west of Jackson. …

from News – Insurance Journal

MGA InsurTech GetSafe Lands $17M Financing to Fuel European Expansion

A managing general agent in Germany that relies on artificial intelligence for its customer platform has raised $17 million in first-round financing. Getsafe’s new money will help propel an expansion into Great Britain and the rest of Europe, and millennials …

from News – Insurance Journal

BHSI Gets French Insurance License, Names d’Huart from AXA XL as Country Manager

Berkshire Hathaway Specialty Insurance (BHSI) announced it has received its insurance license in France, established a new office in Paris, and appointed François-Xavier d’Huart as country manager. “We are pleased to continue our strategic expansion in Europe, with our new …

from News – Insurance Journal

Massachusetts Construction Industry Confronts Drug Addiction Among Ranks

Massachusetts construction companies and labor unions held work stoppages at project sites across the state on Wednesday as their industry attempts to confront a high rate of fatal opioid overdoses among its ranks. Robert Petrucelli, CEO of the Associated General …

from News – Insurance Journal

OneBeacon Financial Institutions Hires Hamilton in New York City

OneBeacon Financial Institutions, a member of OneBeacon Insurance Group, has hired James Hamilton as vice president overseeing regional operations and contributing to the management of the company’s public bank and insurance company portfolio. Hamilton reports to Kevin Koehler, president of …

from News – Insurance Journal

How Insurers Are Digitizing Claims with Apps, Photos, Videos, E-Payments and More

The digital transformation of the insurance industry isn’t just for insurtech startups any more. At Allstate, 60 percent of claims are now filed with a cell phone application that allows policyholders to take photos of the damage, Chief Claims Officer …

from News – Insurance Journal

Helicopter Pilot Killed on Manhattan High-Rise Had Reported a Problem

The pilot of a helicopter who was killed in a crash-landing on a high-rise building in Manhattan had reported a problem and said he wanted to return to the heliport he had taken off from minutes earlier. The copter instead …

from News – Insurance Journal

Two Killed When Small Plane Crashes on Long Island

A small plane crashed on New York’s Long Island on Saturday, killing the man and woman on board, authorities said. The Federal Aviation Authority said in a statement that the single-engine Beechcraft A36 plane crashed in Southold at around 9:15 …

from News – Insurance Journal

U.S. May Allow Flooded Farmers Filing Insurance Claims to Also Get Trade Aid

The U.S. Department of Agriculture is looking into ways to allow farmers who have been unable to plant crops due to rains and waterlogged fields to qualify for farm aid payments, Agriculture Secretary Sonny Perdue said on Monday. The government …

from News – Insurance Journal

2 Execs at Lloyd’s Insurer TMK Forced to Resign After Sexual Harassment Allegations

Two executives at a top Lloyd’s of London insurance company have resigned following allegations of sexual harassment. One was accused of groping colleagues at a booze-fueled party, the other of stalking a junior employee. The first executive was said to …

from News – Insurance Journal

IronPro to Offer Two-Term Policy Endorsement for Small Businesses

IronPro, the professional liability unit of Ironshore, has introduced a two-term policy endorsement for its miscellaneous professional liability (MPL) product for small business accounts. The MPL policy endorsement was designed to streamline underwriting to reduce the brokers’ administrative costs associated …

from News – Insurance Journal

Supreme Court Accepts 3 Cases Seeking to Limit Lawsuits Against Businesses

The U.S. Supreme Court bolstered its next term with three new business cases, agreeing to consider curbing lawsuits over environmental cleanups, employee retirement plans and allegations of racial bias. The justices said Monday they will hear an appeal by a …

from News – Insurance Journal

Most U.S. Commercial Insurance Prices Rose Again in Q1; Auto, D&O Lead the Pack

Commercial insurance prices in the U.S. increased in the first quarter about 2%, according to insurance broker and advisor Willis Towers Watson. The company’s Commercial Lines Insurance Pricing Survey (CLIPS) survey compared carriers’ prices charged on policies underwritten during the …

from News – Insurance Journal

Some Claims of Medical Cannabis Lack Scientific Evidence

Marijuana has been shown to help ease pain and a few other health problems, yet two-thirds of U.S. states have decided pot should be legal to treat many other conditions with little scientific backing. At least 1.4 million Americans are …

from News – Insurance Journal

Atlanta Officials Look to Crack Down on Electric Scooters

Atlanta officials are considering ways to crack down on the throngs of electric scooters clogging the city’s sidewalks and streets. WAGA-TV reports that city leaders want to implement new regulations to stop scooter abuse by riders and company owners. City …

from News – Insurance Journal

Heavy Rain Causes Flooding in North Carolina, 3 Deaths

A chunk of North Carolina’s mountains and foothills are facing flash flooding that’s being blamed for three deaths. The National Weather Service said Sunday that six inches or more of rain had fallen in parts of the region between Boone …

from News – Insurance Journal

Wells Fargo Settling California Car Loan Suit for $385M

Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their vehicles repossessed. The bank …

from News – Insurance Journal

Company Settles for $6M with Nevada Dispensary Co-Owner

A cannabis company paid a $6.3 million settlement to a Nevada dispensary co-owner who claimed the company skimmed millions of dollars from dispensary profits, according financial documents. California-based Terra Tech reached a settlement with Heidi Loeb Hegerich, a co-owner of …

from News – Insurance Journal