What is Known, Unknown About Lung Illnesses Linked to Vaping

Government public health officials are continuing to advise people to stop e-cigarette or vaping products, especially with THC, the main psychoactive ingredient in marijuana. The Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) issued …

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Supreme Court’s High-Profile Cases in Its New Term

The biggest cases before the Supreme Court are often the last ones to be decided, and the focus on the court will be especially intense in June, just a few months before the 2020 election. A look at some of …

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Recent Fatal Crashes Involving Vintage Aircraft

Last Wednesday’s crash of a World War II B-17 bomber in Connecticut was the latest in a long list of fatal crashes involving vintage planes used or designed for military purposes. Some other recent fatal crashes in the U.S. and …

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Study Points to Toxic Chemicals as Likely Cause of Vaping Lung Ailments

Vaping-related lung injuries are most likely caused by exposure to toxic chemicals rather than fatty substances like mineral oils, according to a new analysis of patient tissue by Mayo Clinic pathologists. The results, based on lung biopsies from 17 patients …

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Tokio Marine to Buy High Net Worth Insurer Pure for $3.1 Billion

Tokio Marine Holdings, Inc. has agreed to buy U.S. high net worth insurer Privilege Underwriters Inc. and its subsidiaries, known as Pure Group, for $3.1 billion (approximately JPY 325.5B). Tokio Marine will acquire 100% of Privilege Underwriters Inc.’s shares from …

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New Specialty Re/Insurer Convex Authorized to Write Excess and Surplus Lines in U.S.

Convex Group, the Bermuda-based international specialty insurer and reinsurer, announces that its UK insurance subsidiary, Convex Insurance UK Ltd., has been added to the National Association of Insurance Commissioners (NAIC) Quarterly Listing of Alien Insurers with effect from Oct. 1, …

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Hurricane Lorzeno Lashes Azores, Causing Minor Damage, with Ireland as Next Stop

Hurricane Lorenzo powered across the Atlantic Ocean on Wednesday, lashing the Azores Islands with heavy rains, powerful winds and high waves but causing only minor damage, according to authorities. The Azores Civil Protection Agency said the Category 2 hurricane felled …

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Taiwan Bridge Collapse Claims 4 Lives with 2 People Missing

Searchers have recovered four bodies and are looking for two people missing from three fishing boats that were struck when a bridge collapsed in Taiwan. The National Fire Agency on Wednesday identified two of the victims as Indonesian and another …

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Canopius Completes Acquisition of AmTrust at Lloyd’s

Canopius Group announced it has completed its acquisition of AmTrust at Lloyd’s. The merger provides Canopius with significant additional underwriting expertise and a broader product offering, creating a leading Lloyd’s insurer of increased scale and enhanced relevance to its clients …

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Hub International Buys Canada Employee Benefits Consultant, Regency Advisory Corp.

Hub International Ltd., the Chicago-based insurance broker, announced it has acquired the Canadian employee consulting firm, Regency Advisory Corp. Terms of the transaction were not disclosed. Located in Saskatoon, Saskatchewan, Canada, Regency Advisory Corp. “provides innovative and proprietary benefit solutions …

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Google Faces $3.9B iPhone Privacy Lawsuit After London Court Reinstates Case

A U.K. lawsuit filed against Google by millions of iPhone users over data-collection claims was given the go-ahead by London appeals judges who overturned an earlier ruling that had thrown out the case. The group, known as Google You Owe …

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Generali Weighs at Least $3.3B in Mid-Sized Insurance, Asset Management M&A

Assicurazioni Generali SpA, Italy’s biggest insurer, may invest at least 3 billion euros ($3.3 billion) to grow through mid-size acquisitions in insurance and asset management, according to Chief Executive Officer Philippe Donnet. “I don’t believe in big consolidation, because of …

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Louisiana Auto Insurance Provider, GoAuto, to Lower Rates

A rate reduction has been approved for the Louisiana-based auto insurance provider, GoAuto, the Louisiana Department of Insurance reports. The 3.6% rate reduction for GoAuto Insurance Co. impacts 74,000 Louisiana drivers. The newly approved rates will be effective on Oct. …

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Verisk to Acquire Property Data Provider, BuildFax, in Austin

Verisk, which provides data analytics services to the insurance, energy and specialized markets, and financial services industries, has signed a definitive agreement to acquire BuildFax, an Austin, Texas-based provider of property condition and history data, from its shareholders. The majority …

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Alabama Hospital System Halts Admissions Amid Malware Attack

A hospital system that serves a large part of rural west Alabama temporarily quit accepting new patients after a ransomware attack crippled some of its computer systems Tuesday. Brad Fisher, a spokesman for DCH Health System, said its hospitals in …

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Beecher Carlson Names Darr Client Solutions Leader in Atlanta

Beecher Carlson Insurance Services, LLC, a specialized large account insurance broker, has appointed Brad Darr as Client Solutions leader, based in Atlanta. In this role, Darr will report directly to Joe Siech, chief executive officer (CEO) of Beecher Carlson. As …

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Investors Betting Against U.S. Mortgage Market Are Banking on Mispriced Flood Risk

David Burt helped two of the protagonists of Michael Lewis’ book The Big Short bet against the U.S. mortgage market in the run-up to the 2008 financial crisis. Now he’s betting against the market again, but this time, the risk …

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Workplace Quality, Not One Factor, Determines Worker Health, Job Safety: Study

The terms and conditions of employment — including pay, hours, schedule flexibility and job security — influence employees’ overall health as well as their risk of being injured on the job, according to new research from the University of Washington. …

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How the Future of Insurtech Innovation Is Tied to the Traditions of Regulation

It’s no secret: Innovators and regulators often clash. But both are needed to help enable a dynamic, consumer-friendly property/casualty industry in the future, insurance and insurtech experts said recently. “There will be more innovation and empowerment of the consumer, but …

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Fire that Destroyed 6 Homes in North Carolina Beach Town Under Investigation

A huge fire destroyed six homes and damaged a seventh home in a North Carolina beach town, and officials are trying to determine what sparked it. News outlets report the fire first broke out around 6 p.m. Sunday, and it …

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Georgia Sheriff’s Deputy Sues Over Lack Of Transgender Insurance Coverage

A sheriff’s deputy in Perry, Ga., filed a lawsuit in federal court Wednesday against the county where she works over its refusal to allow her health insurance plan to cover her gender-affirmation surgery. Sgt. Anna Lange came out as transgender …

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HSB to Offer Leak, Freeze Damage Sensor for Small Businesses

HSB, part of Munich Re, has introduced a cellular IoT sensor product designed to help smaller businesses and organizations prevent property damage. The device leverages IoT-specific cellular networks and connects to the internet to utilize proprietary algorithms to monitor for …

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Worker Dies from Injuries at BP’s Refinery in Whiting, Indiana,

A contract worker died from injuries received while working at BP Plc’s 430,000 barrel-per-day (bpd) Whiting, Indiana, refinery on Wednesday, a company spokesman said. “BP confirms that a contract worker was injured today at the Whiting refinery,” said company spokesman …

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AmeriTrust Group Names McGuire as New Chief Claims Officer

Southfield, Michigan-based commercial insurance underwriter and insurance administration services provider, AmeriTrust Group Inc., has promoted Traci McGuire to chief claims officer. She is based in the company’s Westerville, Ohio, office. McGuire previously served as senior vice president, Claims. McGuire joined …

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Survey Suggests Little or no Midwest Economic Growth on Horizon

The Mid-America Business Conditions index fell further below growth neutral, hitting 49.1 last month compared with 49.3 in August. The figure was 52.0 in July. The decline was the fifth in six months for the overall index, which had remained …

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11 Earthquakes Recently Recorded in Kansas’ Jewell County

The Kansas Geological Survey reports 11 earthquakes were recorded in a northern Kansas county last weekend. The agency’s data shows the cluster of quakes struck north and east of Randall in Jewell County Saturday and Sunday. Four of the earthquakes …

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Pep Boys Settles California Environmental Suit for $3.7M

The Pep Boys auto parts chain will pay $3.7 million to settle allegations that it illegally disposed of used motor oil and other hazardous waste at its California stores. The settlement announced Monday resolves a lawsuit filed by district attorneys …

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AmWINS Group to Acquire Stealth Partner Group in Arizona

AmWINS Group Inc. has signed a definitive agreement to acquire Scottsdale, Ariz.-based Stealth Partner Group. The deal is expected to close in the fourth quarter of 2019, pending regulatory approval and customary closing conditions. Terms were not disclosed. In early …

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New Jersey’s Selective Insurance Group Announces Officer Appointments

Selective Insurance Company of America, a Branchville, N.J.-headquartered subsidiary of Selective Insurance Group Inc., has announced the following officer appointments. Christopher Cunniff has been appointed as chief risk officer. Cunniff joined Selective in July 2018 as senior vice president of …

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Officials Say Road Paving Prep Led to Latest Lawrence Gas Leak

Officials say preparations for a road paving project triggered a gas leak that caused hundreds of residents of a Massachusetts city still reeling from last year’s destructive gas explosions to be temporarily evacuated. The state Department of Public Utilities, utility …

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Parents of Connecticut Teen Gun Accident Victim Settle Lawsuit for $1M

The parents of a 15-year-old Connecticut boy who accidentally shot and killed himself at a friend’s house have settled their lawsuit against the gun owner for $1 million. The Hartford Courant reported Monday that Kristen and Michael Song filed the …

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Hines Joins Everest’s Specialty Insurance Group in Underwriting

Kurt Hines has joined insurer Everest Insurance as vice president of Underwriting in the Specialty Insurance Group, which offers coverages for the sports, leisure and entertainment industries. In this role, Hines will be responsible for overseeing all underwriting activities for …

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New CEO Levinson on Rebuilding Lexington Insurance

Success for a specialty lines carrier is about discipline. It’s about walking away from classes of business or lines of business when rates are no longer adequate. It’s about having the courage to make substantial changes. That’s according to Lou …

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Growth Frenzy Around Middle-Market CLOs Expected to Continue

It’s a marriage between two of Wall Street’s hottest products. Collateralized loan obligations — typically chock-full of broadly-syndicated debt — are increasingly being stuffed with private loans made to highly leveraged medium-sized companies with limited access to bank financing. Known …

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Bridge in Eastern Taiwan Collapses; Divers Search for Victims

A towering arch bridge over a bay in eastern Taiwan collapsed Tuesday, sending a burning oil tanker truck falling onto boats in the water below. An air force helicopter, fishing vessels and more than 60 military personnel, including divers were …

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Willis Re Specialty Taps Aspen’s Harrell as Managing Director & Chief Operating Officer

Reinsurance broker Willis Re announced the appointment, with immediate effect, of Donald Harrell as managing director & chief operating officer of Willis Re Specialty. Harrell joins with more than 25 years’ broking and underwriting experience in the specialty insurance sector. …

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Arthur J. Gallagher & Co. Acquires U.K.’s Anthony Hodges Consulting Ltd.

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Anthony Hodges Consulting Ltd. (AHC) in the United Kingdom. Terms of the transaction were not disclosed. Founded in 1996, AHC is a pension, change and reward …

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Canada Insurer Intact Financial Corp. Completes Acquisition of On Side Restoration

Intact Financial Corp., the Toronto-based property and casualty insurer, announced it has completed the acquisition of On Side Developments Ltd., the parent company of On Side Restoration. With more than 1,200 employees and 35 branches across Canada, Vancouver-based On Side …

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UK PM’s Ultimatum to EU: Negotiate Brexit on His Terms, or Face No-Deal Divorce

Boris Johnson is poised to issue an ultimatum to the European Union on Wednesday: negotiate Brexit on his terms within the next nine days, or face a no-deal divorce. A key EU player has already rejected the prime minister’s plan. …

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Buffett-Owned Chemical Firm Lubrizol Faces Lawsuits After Fire in Rouen, France

More than 5,250 tonnes of chemicals, oil and fuel additives have burned in a massive fire at U.S. specialty chemical firm Lubrizol in Rouen, France, last week, the local prefecture said in a statement on Tuesday. Following days of protests …

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Hurricane Lorenzo Loses Power but Swells in Size as It Heads Toward Ireland, Scotland

For the third time in three years Europe is bracing for a storm-driven October as warm Atlantic waters fuel a record-setting hurricane that’s headed toward Ireland and Scotland. Lorenzo on Saturday became the strongest storm to form in the eastern …

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Florida Law Banning Cellphones While Driving in School, Construction Zones Takes Effect

Better keep your hands off that cellphone if you are driving near a school or through a construction zone in Florida. As of Tuesday, it is against the law to hold a cellphone while driving in those places. Florida earlier …

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11 South Carolina Counties to Receive Federal Aid for Hurricane Dorian Damage

President Donald Trump has issued a declaration approving specific federal assistance for South Carolina areas affected by early September’s Hurricane Dorian. The White House on Monday ordered that federal aid be used to supplement emergency work and replacement of facilities …

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J&J to Pay $20.4M to Settle Ohio Counties’ Opioid Claims

Johnson & Johnson said on Tuesday it will pay $20.4 million to settle claims by two Ohio counties in a lawsuit that accused the drugmaker of contributing to an U.S. opioid addiction epidemic. The company said in a statement the …

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Imagine a World Without Insurance

Have you ever wondered what the world would be like without insurance? The Insurance Information Institute has. It’s probably safe to say that life would be a lot different and probably not as exciting. The economy would not be as …

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Judge Rules Harvard’s ‘Fine Admissions Policy’ Passes Constitutional Test

Harvard University’s undergraduate admissions program does not discriminate against Asian-American applicants, a federal judge ruled on Tuesday, rejecting a lawsuit brought by opponents of affirmative action and backed by the Trump administration. The lawsuit was brought by a group hoping …

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UPS Approved to Operate First U.S. Drone Airline for Non-Residential Deliveries

United Parcel Service Inc. on Tuesday said it won the U.S. government’s first full approval to operate a drone airline, which gave it a lead in the nascent U.S. drone delivery business over rivals Amazon.com Inc. and Alphabet Inc. The …

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New Firm’s Services for Consolidated Dairy Industry Include Crop Insurance

Two traditional U.S. Midwest brokerages serving the dairy market are combining their businesses as the industry consolidates. Chicago-based Rice Dairy LLC and Commodity Risk Management Group of Platteville, Wisconsin, are partnering to form a company with about 1,700 clients, the …

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XPT Group, Watford Insurance Launch Trucking Program for Underserved Risks

W.E. Love & Associates, LLC, a subsidiary of XPT Group LLC, has launched a new Platinum Trucking program with Watford Insurance Co. to offer coverages for high-quality, experienced trucking firms that just miss being considered “prime” risks. According to John …

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Nebraska Woman Convicted of $246K Insurance Fraud

A Kearney, Nebraska, woman has been convicted of submitting a fraudulent insurance claim of nearly $246,000. Hall County District Court records say a jury found 49-year-old Debra Shriner guilty of the fraud and of misdemeanor false reporting. Her attorney, James …

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Louisiana Hospital Owners, Operators to Settle Whistleblower Case for $530K

A whistleblower claim brought a $530,000 settlement from a Louisiana hospital. A news release from U.S. Attorney David Joseph says the claim targeted owners and operators of University Health Hospital in Shreveport. The statement says Biomedical Research Foundation of Northwest …

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Imelda-Impacted Texans Still Don’t Know if They Qualify for FEMA Aid

Stacy Fernández and Davis Rich Two state officials are optimistic that southeast Texans whose homes were flooded by Tropical Storm Imelda will qualify for federal aid. And since it could be weeks before the destruction is fully inventoried, many leaders …

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Cyber-Attacks Named as Top Business Risk in U.S., Canada and Europe, by WEF Survey

Cyber-attacks are named as the leading risk for business executives in the United States, Canada and Europe, according to a survey of business leaders published by the World Economic Forum, in partnership with Zurich Insurance Group and Marsh & McLennan …

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Roamnet in California Adds Amorelli as Marketing Manager

Ontario Calif.-based Roamnet Insurance Marketing has hired Anthony Amorelli III as the new marketing manager. He will reporting to Anthony Amorelli, the firm’s president, and be responsible for new business development. He has previously worked at CompWest Insurance, and Beach …

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Alaska City Officials Might Prevent Pot Companies from Opening

Alaska city officials have sponsored protests that could stop two cannabis companies from opening despite having approved licenses. KYUK-AM reported that the state Marijuana Control Board recently approved licenses for two marijuana stores, but Bethel City Council has delayed the …

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Tornado, Hail, Snow Sweep Through California

The National Weather Service confirmed that a tornado touched down in a California field as thunderstorms swept through the central part of the state. Cellphone video posted online shows the towering vortex spinning Saturday near Davis. NWS forecaster Emily Heller …

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New York Could Add Menthol to Flavor Ban as Vaping Groups Sue

New York officials want to add menthol to the state’s first-in-the-nation ban on the sale of flavored e-cigarettes as the vaping industry seeks to block it, according to the governor’s office. Democratic Governor Andrew Cuomo said he’s directing his administration …

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New York Files Suit Against Dunkin’ Donuts Over Security Breaches

Dunkin’ Donuts violated state law by not notifying almost 20,000 customers, including more than 2,000 in New York, about cyberattacks on their accounts in 2015 and inadequately warning more than 300,000 customers in 2018 about another attack, the New York …

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World Insurance Associates Acquires Pennsylvania’s KPB Insurance Services

World Insurance Associates LLC (WIA) has acquired KPB Insurance Services Inc. of Warminster, Penn., on September 1, 2019. Terms of the transaction were not disclosed. Founded in 1982, KPB Insurance Services provides insurance and financial solutions to individuals, families and …

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Three Hurt in Pennsylvania Helicopter Crash at Fair

Authorities in Pennsylvania say three people have been hurt in a helicopter crash at a state fair. WNEP-TV reports a pilot and two passengers were in the helicopter when it crashed Saturday about 7:30 p.m. in the parking lot of …

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Third Point Re’s Wilson Joins Hamilton to Head U.S. Casualty, Specialty Reinsurance Unit

Bermuda-based specialty insurer and reinsurer Hamilton Insurance Group announced that Steve Wilson has been appointed senior vice president, head of Casualty & Specialty, for its new U.S. reinsurance platform. Wilson comes to Hamilton from Third Point Re, where he was …

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Cyber Tops All Other Risk Concerns for Businesses of All Sizes

Cyber risks are the top concern among businesses of all sizes. Of the 1,200 business leaders who participated in an insurer-sponsored survey, 55% said they worry some or a great deal about cyber risks, ahead of medical cost inflation (54%), …

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Typhoon Mitag Lashes Eastern China, Heads to South Korea

After lashing parts of Taiwan and Japan’s southernmost Ryukyu Islands on Monday, Typhoon Mitag is passing eastern China today and then takes aim at South Korea and the remainder of Japan later this week, according to weather.com meteorologists, in a …

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Fellow Drugmakers Eye Purdue’s Bankruptcy As Way to Settle Opioid Claims: WSJ

Endo International Plc, Johnson & Johnson and other drugmakers that face litigation over the opioid crisis are exploring a way to settle the cases by participating in Purdue Pharma LP’s bankruptcy, the Wall Street Journal reported, citing internal documents and …

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MS Amlin Exits 9 Non-Core Classes of Business, with a New Focus on 3 Core Markets

MS Amlin, the London-based re/insurer and subsidiary of MS&AD, announced a new underwriting strategy that focuses on three core, non-commodity markets, while exiting nine non-core markets, which no longer fit in its long-term strategy. Following a comprehensive underwriting review, MS …

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AGCS Names Kang as Head of Reinsurance and Catastrophe Risk Management

Allianz Global Corporate & Specialty (AGCS), the corporate insurance carrier of Allianz Group, has appointed Hyeji Kang as global head of Reinsurance and Catastrophe Risk Management, effective Oct. 1, 2019. She will succeed Bernhard Arbogast, who will retire at the …

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Philippines Warns Hog Traders Who Ignore Quarantine Rules as Swine Fever Spreads

The Philippines’ Department of Agriculture on Tuesday threatened legal action against hog traders ignoring strict animal quarantine rules as it confirmed new cases of African swine fever infections in metropolitan Manila and a northern province. Agriculture Secretary William Dar said …

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