$5 Trillion Investor Group Aims to Align Portfolios with Paris Climate Agreement

Thirty of the world’s largest investors managing a combined $5 trillion said on Tuesday they plan to set targets to lower their portfolio carbon emissions by as much as 29% over the next five years. All members of the Net-Zero …

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With Tech Tools Galore, It’s an Exciting Time for Insurtech McKenzie Intelligence

Advanced technological tools are making it an exciting time to be an insurtech – and an exciting time for those insurers and reinsurers that want to more accurately assess the risks on their books, according to Forbes McKenzie, CEO of …

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InsuraGuest to Offer Crum & Forster BOP Coverage to 130+ Classes Via Web Portal

InsuraGuest Technologies, Inc. through its wholly owned U.S. subsidiary Insure The People, LLC (ITP), has launched a new business owner policy (BOP) insurtech portal, www.InsureThePeople.com that is available to more than 130 class codes. ITP is powered by InsuraGuest’s insurtech …

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U.S. Dept. of Labor Orders Tennessee Restaurant Chain to Pay $563K in Back Wages

A small Tennessee restaurant chain has been ordered to pay $563,350 in back wages to 120 employees after the U.S. Department of Labor found it violated minimum wage and overtime rules. Don Pancho Mexican Restaurant kept a portion of servers’ …

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UK’s Post-Brexit Privacy Protections Fail EU Data Protections, Activist Warns

UK privacy protections were criticized by an activist who told the European Union that the British shouldn’t be trusted to protect user data after Brexit. The personal data of EU citizens “do not at present have an adequate level of …

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Insurers Remain Unfazed by Risks of Clinical Trials for COVID-19 Vaccine

The world is racing towards a vaccine in record time, stirring public concerns about safety to the extent that nine leading developers have felt compelled to issue a pledge to uphold scientific standards and testing rigor. Yet, while more than …

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Kansas Man Sues Trucking Firm, Driver Over Crash That Killed Wife, 4 Children

A Kansas man is suing a over a crash that killed his wife, three of his children and his stepdaughter. Jeffrey Williams, of Viola, is seeking more than $75,000 in damages in the wrongful death lawsuit filed against Andrew Specht …

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Iowa’s Derecho Crop Losses Increase by More Than 50%, Report Shows

A new report shows that crop loss estimates from a rare windstorm that slammed Iowa in August have increased by more than 50%. The U.S. Department of Agriculture said on Oct. 9 that the number of crop acres that Iowa …

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AccuRisk’s Share of Texas Non-Subscriber Market to Grow with Acquisition

Chicago-based managing general underwriter, AccuRisk Solutions LLC, is set to acquire the renewal rights to Great American Insurance Group’s book of Texas occupational illness and injury non-subscription business. The parties have come to a mutual agreement of terms and AccuRisk …

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Senator Calls on U.S. to Delay IPO by China’s Ant Group

Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of China’s Ant Group, the fintech arm of …

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Removal of Georgia Shipwreck Delayed Again Over Anchor Issue

An engineering problem has forced another delay before salvage crews can start removing an overturned cargo ship that’s been partially submerged on the Georgia coast for more than a year, officials said last week. The multi-agency command overseeing the salvage …

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Lockton Global Marine Adds Lochridge, Byrne in Florida

Lockton Global Marine has added Kyle Lochridge and Jake Byrne as vice presidents and account executives. They are based in South Florida. Lochridge has over 13 years of experience in marine insurance with a focus on blue water risks and …

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Returning After Hurricane Delta, Louisiana Evacuees Face Power Outages, Extreme Heat

10/11/2020 06:21 PM— Storm-weary coastal Louisiana residents who fled from the path of Hurricane Delta in recent days streamed back to their homes on Sunday to face cleanup and repairs from the second hurricane to batter their state over the …

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U.S. Olympics Sues Insurers Over Stalled Nassar Sex Abuse Settlement

The United States Olympic and Paralympic Committee (USOPC) said on Friday it has filed a lawsuit against its insurance providers for failing to fulfill obligations in reaching a settlement with survivors of the Larry Nassar sexual abuse scandal. Committee Chair …

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UK Financial Services Firms Become More Optimistic, Says Business Survey

Financial services firms in Britain turned more optimistic for the first time this year as a drop in business bottomed out, but big uncertainties remained about COVID-19 and a post-Brexit trade deal, according to a survey published on Thursday. A …

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Pennsylvania’s Erie Insurance Announces Senior Leadership Changes

Erie Insurance, based in Erie, Penn., has announced a series of senior leadership changes within the Claims, Sales & Products and Information Technology divisions. The organizational changes are in conjunction with the January 2021 retirement of Chris Zimmer, senior vice …

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Nigerian Insurance Market Faces Challenges to Realize Its Potential: AM Best

Nigeria’s insurance market has great potential given its position as Africa’s largest economy, its substantial oil and gas reserves and its young and growing population. Yet Nigeria’s insurance market has failed short on that promise due in part to the …

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Newfront in California Adds Alliant’s Parker to Run Carrier Partnerships

Newfront Insurance in San Francisco, Calif., has named Natalie Parker head of carrier partnerships. Parker will oversee carrier relationships for Newfront, and join its executive team. She joins Newfront from Alliant Insurance Services, where she spent 21 years. Newfront is …

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Crest Insurance Adds Kosiek in Arizona as Director of Risk Services

Crest Insurance Group has named Marc Kosiek director of risk services. Kosiek is based in Scottsdale, Ariz. He has a background in commercial insurance risk management, including experience in trucking, auto dealerships, habitational risks, restaurants and contractors. He was previously …

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Employees Say Rules at Britain’s Banks Block Use of Contact Tracing App

Branch staff at some of Britain’s biggest banks say rules that require them to store phones in lockers while at work are putting them at undue risk of COVID-19 from colleagues and customers, as they cannot use the country’s tracing …

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Firms’ Employee Benefit Offerings Reflect Pandemic-Reshuffled Priorities

During the past year, there is a good chance that you and your priorities changed significantly. The things you used to think were important are not so important anymore. And issues you did not even think about before are suddenly …

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Gulino to Lead The Hartford’s Middle/Large Commercial Insurance Central Division

Bob Gulino has been appointed as head of The Hartford’s Central Division for the company’s middle and large commercial insurance business. Gulino now leads the sales and underwriting operations for the company’s independent agents, brokers and customers across 13 Midwestern …

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Louisiana Insurance Commissioner: Pay Only 1 Hurricane Deductible Per Season

Louisiana’s single season named-storm/hurricane deductible law prohibits a homeowner from paying more than one named-storm/hurricane deductible in the same hurricane season, the state insurance department is reminding vulnerable policyholders in advance of Hurricane Delta. Louisiana Insurance Commissioner Jim Donelon wants …

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Exiting Insurers, Premium Hikes Frustrate Canada’s Struggling Hospitality Industry

Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and the sector’s risks. Even before COVID-19, insurers globally were …

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EPIC Adds MetLife’s Johnson to National Employer Consulting Practice in Atlanta

EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has added Robert Johnson as principal. Johnson’s primary focus will be new client acquisition and helping teams build client relationships through non-medical growth strategies. …

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M.J. Hall Adds Personal Lines Practice with Hugues in California

M.J. Hall & Co. has formed a personal lines insurance practice, adding April Hughes as a broker specializing in personal lines. Hughes is based in Stockton, Calif. Hughes has more than 20 years of industry experience. She was most recently …

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California Commissioner Makes Appointments to Insurance Boards

California Insurance Commissioner Ricardo Lara has added new members to the California Department of Insurance’s Curriculum Board, the California Life and Health Insurance Guarantee Association’s Board of Directors, and the California Workers’ Compensation Insurance Rating Bureau’s Governing Committee. Rene Swan …

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New MyFloodInsurance.com Offers Online Platform to Compare, Buy Flood Coverage

Florida-based flood insurance agency National Flood Insurance (NFI) has backed a new online platform for consumers and agents to quote, compare, and purchase flood insurance policies from multiple flood insurance companies, as well as from the National Flood Insurance Program …

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6 Stolen Vintage Vehicles Recovered in Minnesota

St. Paul, Minn., police said they have recovered six collector cars stolen from a body shop and are searching for suspects. The vintage vehicles were found abandoned in a wooded area of Woodbury, St. Paul police spokesman Steve Linders said. …

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Pre-Delta, Gov. Edwards Declares State of Emergency in Louisiana

Louisiana Gov. John Bel Edwards has declared a state of emergency ahead of Hurricane Delta, which is on track to hit his state later this week. The Democratic governor called Delta an “incredibly dangerous storm that will bring heavy winds, …

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Howden’s Acquisition of A-Plan Group to Create One of UK’s Largest Brokers

The international insurance broking group Howden recently announced that it has agreed to acquire A-Plan Group, one of the UK’s largest personal and commercial lines insurance brokers. The deal promises to create one of the UK’s largest insurance brokers managing …

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Hackers-for-Hire Group Targets Officials, Activists, Executives in Middle East

Saudi diplomats, Sikh separatists and Indian business executives have been among those targeted by a group of hired hackers, according to research published on Wednesday by software firm BlackBerry Corp. The report on the group, known publicly as Bahamut, the …

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Montana Climate Project Will Install Remote Weather Stations

University of Montana researchers recently received a $21 million government contract, bringing more support and longevity to what has been a grassroots effort to build a better climate monitoring network across the state. The funding from the U.S. Army Corps …

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AXIS Insurance Adds 4 Senior Underwriters to Management Liability Team

Specialty insurer AXIS Insurance has hired four experienced underwriters to its U.S. Management Liability team. Christina Segreti, Drew Kushnick, Matthew Holzinger and Sherry Alexakis have joined AXIS as senior underwriters to help support growth in the management liability market. Segreti …

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How Coronavirus Is Changing Claims, Risks, Workplaces, Habits, Supply Chains and More

The magnitude of the COVID-19 pandemic as an economic loss events is unprecedented for companies and insurers alike and claims trends and risk exposures are likely to evolve in both the mid- and long-term as a result of the pandemic, …

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EU Climate Service Says September Was World’s Warmest on Record

Last month was the world’s hottest September on record, with unusually high temperatures recorded off Siberia, in the Middle East, and in parts of South America and Australia, the European Union’s Copernicus Climate Change Service said on Wednesday. Extending a …

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Hub International Limited Acquires Assets of Maryland’s Bernstein Insurance

Global insurance brokerage Hub International Limited has acquired the assets of Bernstein Insurance LLC. Terms of the transaction were not disclosed. Bernstein Insurance’s principal owner, Jennifer Bernstein, was previously part of Nationwide Mutual Insurance Company’s exclusive distribution model and is …

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Metal Recycler Fined $2.7M for Improper Disposal of Waste

A metal recycler has been fined nearly $3 million for improperly disposing of hazardous waste on its site, the New Hampshire attorney general’s office said. The $2.7 million fine is the largest the state has issued for a hazardous waste …

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Seaplane Crashes Into New York City Pier, Killing One and Injuring Two

A single-engine seaplane skipped twice on the water of Long Island Sound while landing and crashed on top of a concrete pier in Queens, killing a passenger and sending the pilot and another passenger to the hospital with serious injuries, …

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Progressive CEO Says Move Into Life Insurance Possible: ‘More to Come’

Progressive Corp. could soon expand its horizons into life insurance. “We actually are considering that,” Chief Executive Officer Tricia Griffith said when asked about a possible move. “We have a life-insurance company filed in Ohio. More to come on that.” …

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Category 3 Hurricane Delta Hits Mexico; Expected to Strengthen, Then Move to U.S.

Updated Oct 7., 2020, 6:58 AM— Hurricane Delta weakened to a Category 3 storm just before slamming into the coast of Mexico, but remains life-threatening. Delta came ashore along the northeastern Yucatan Peninsula near Puerto Morelos, the National Hurricane Center …

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EU Sources Say Brexit Deal with Britain on Social Benefits ‘Closer’: Reuters

Britain and the EU are closer to agreement on reciprocal social security rights for their citizens after Brexit, two diplomatic sources said, with one describing talks last week on an elusive trade deal as “one of the most positive so …

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German Lawmakers Agree to Corporate Accounting Reforms After Wirecard Scandal

Germany’s coalition parties have agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal, a document seen by Reuters shows. Lawmakers launched a parliamentary inquiry in an effort to force the government to reveal …

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The MEMIC Group Appoints Nash as Underwriter for Carolinas

Sealy Nash of Charlotte, N.C. has been appointed as a senior production underwriter at The MEMIC Group, a specialty workers’ compensation insurance company serving the Eastern seaboard from Florida to Maine. She will report to Tod Austin, president of MEMIC’s …

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HIIG in Houston Hires Rollins as Director of Underwriting, Property

Houston International Insurance Group Ltd. (HIIG) has hired Jason Rollins to join its Commercial Property group as director of Underwriting. Rollins has 20 years of experience building highly profitable property books. He previously was the head property underwriter at International …

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Lawsuit: Omaha Police Used Excessive Force at Protests

A lawsuit accuses Omaha police of using excessive force when they responded to protests against police brutality and racial injustice in Nebraska’s largest city earlier this year. The American Civil Liberties Union of Nebraska filed a federal lawsuit on Oct. …

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Children of Deceased Tyson Worker in Iowa Allege Lax COVID-19 Safety

The children of a Tyson Foods worker who died of the coronavirus in April have filed a lawsuit claiming his plant took few safety precautions before he and others became infected in Iowa’s first major outbreak. Pedro Cano, 51, worked …

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Bender in California Names Abouelezz Business Development Manager

Sacramento, Calif.-based Bender Insurance Solutions has named Ramy Abouelezz business development manager. Abouelezz will drive organic growth initiatives across all lines of business. He has 25 years of experience in the financial services industry. He was previously a regional sales …

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SEC Warns GE of Possible Securities Violations in Its Insurance Accounting

General Electric said on Tuesday it has received a notice from U.S. Securities and Exchange Commission staff, warning that the company could face a civil action for possible violations of securities laws related to accounting practices for some of its …

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House Antitrust Panel Blasts Big 4 Internet Firms for Abuses; Seeks Reforms, Separations

A U.S. House of Representatives panel looking into abuses of market power by four big technology companies found they used “killer acquisitions” to smite rivals, charged exorbitant fees and forced small businesses into “oppressive” contracts in the name of profit. …

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Newfront Adds California-Based Brokers in Ag, Service and Manufacturing

Newfront Insurance has added a team of insurance brokers who were formerly part of Paramount Insurance in Fresno, Calif. The move reflects Newfront’s growing investment in agriculture, service and manufacturing. The new additions are: Danny Vance, principal and sales director. …

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North Carolina Sets Oct. 31 Continuing Education Deadline After COVID Delay

All licensed insurance producers and adjusters operating in North Carolina with a continuing education compliance period that ended in February, March, April, May and June 2020 must complete the state mandated CE requirements by Oct. 31, 2020 or face having …

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3 Dead, 1 Hurt in Partial Collapse of Houston High-Rise Under Construction

Three workers were killed on Oct. 5 when a stairwell collapsed inside a high-rise building under construction in Houston, according to fire department officials. The fire department said one injured worker was taken to a hospital and was listed in …

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Texas Surplus Lines Stamping Fee to Decrease in January

The stamping fee for recording surplus lines insurance policies in Texas will drop from the current rate of 0.15% of gross premium to 0.075%, after the request by the Surplus Lines Stamping Office of Texas (SLTX) to lower the rate …

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An Insurance Lyft: CSAA Forms Rideshare Carrier; Allstate, Liberty Mutual Offer Coverage

A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty Mutual in a handful of …

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Insurance Consumer Advice for Owners of High-Risk Homes: Liz Weston

When house hunting, the price of homeowners insurance probably isn’t top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save a homeowner a bundle. This could be …

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Family of Autistic Teen Getting $7.5M in California Golf Cart Death Settlement

The mother of an autistic teenager who died in a golf cart crash at a Southern California high school will receive $7.5 million in a lawsuit settlement. The agreement with the Orange Unified School District was announced by attorneys for …

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Alaska Pilot’s Blood Alcohol Was 5 Times Over Limit, Report Shows

The National Transportation Safety Board confirmed an Alaska airplane pilot involved in a fatal crash had a blood-alcohol level more than five times above the legal limit for pilots to fly. The final NTSB crash report said pilot Charles Weimer …

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Feds Fault Operator, Regulators in New York Limo Crash That Killed 20

State regulators repeatedly failed to properly oversee a poorly maintained stretch limousine with corroded brakes that hurtled down a hill at more than 100 mph and crashed in a ravine, killing 20 people, federal investigators said. National Transportation Safety Board …

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Hub International Limited Acquires Virginia’s WFG Benefits

Global insurance brokerage Hub International Limited has acquired the assets of WFG Benefits Inc. Terms of the transaction were not disclosed. Located in McLean, Va., WFG Benefits Inc. is an insurance and employee benefit planning firm with more than 30 …

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World Insurance Associates Acquires New York’s Paul Global Benefits

World Insurance Associates LLC (WIA) has acquired Paul Global Benefits Inc. (PGB) of Syosset, N.Y., on September 1, 2020. Terms of the transaction were not disclosed. PGB is an employee benefits consulting firm specializing in health/welfare and retirement services in …

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Rebuilding in Wildfire Zones: A One-Stop Shop for Wildfire Victims

California is on fire. Already this year, thousands of people have lost their homes, and communities are struggling to figure out how to rebuild. Nikki Pechet wants to be the person they turn to. Pechet co-founded Homebound Inc. in 2018 …

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Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns

Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest insurer of Hollywood studios, has set aside …

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Tropical Storm Delta Expected to Threaten Gulf Coast as Major Hurricane This Week

Tropical Storm Delta, the 25th named Atlantic storm this year, is moving toward the Gulf of Mexico and expected to take aim at the U.S. Gulf Coast this week as a major hurricane, the National Hurricane Center said. If Delta …

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Top EU Court Rules Mass Spying on Phone, Internet Data Is Unlawful

The European Union’s top court ruled on Tuesday that unrestrained mass surveillance of phone and internet data is unlawful, in a move which could curb the powers of spying agencies in France and other EU countries. Privacy rights advocacy groups …

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Allianz CEO Cautions European Governments on Spending for Coronavirus Recovery

Allianz CEO Oliver Baete said on Tuesday that European governments needed to be careful about spending record amounts on the COVID-19 crisis as many ordinary people would be angry when they were handed such a vast bill. The coronavirus pandemic …

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Hub International Buys Canadian Benefits Consultancy Firm, Clearpoint

Hub International Ltd., a Chicago-based global insurance broker, announced it has acquired Canadian benefits firm, Clearpoint, which comprises Clearpoint Advisory Group Inc., Clearpoint Retirement Solutions Inc. and Canwest Group Benefits Inc. Terms of the transaction were not disclosed. Located in …

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South Carolina Passes Flood Insurance Law to Boost Private Market

The state of South Carolina is aiming to foster new flood insurance coverage options through the enactment of the South Carolina Private Flood Insurance Act. South Carolina Gov. Henry McMaster signed the legislation, passed Sept. 23 by state lawmakers, into …

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The New Digital Normal and the Future of Work in Reinsurance

It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful scramble to conduct its business digitally at the onset of the COVID-19 crisis. This digital transformation is creating a new …

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Cypress P&C of Florida Promotes Rine to President, Taps Hillier as CFO & Treasurer

Cypress Property & Casualty Insurance Co. has promoted Jay Rine to president and new hire, Trevor Hillier will assume the role chief financial officer and treasurer. Rine joined Cypress in 2017, most recently serving as executive vice president, chief financial …

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Cypress P&C of Florida Promotes Rine to President, Taps Hillier as CFO & Treasurer

Cypress Property & Casualty Insurance Co. has promoted Jay Rine to president and new hire, Trevor Hillier will assume the role chief financial officer and treasurer. Rine joined Cypress in 2017, most recently serving as executive vice president, chief financial …

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Judge Orders Cisco to Pay $1.9 Billion in Cybersecurity Patent Lawsuit

A U.S. judge on Monday ordered Cisco Systems Inc. to pay $1.9 billion to a Virginia company that accused it of copying its cybersecurity patents. U.S. District Judge Henry Morgan in Norfolk, Virginia, concluded after a monthlong non-jury trial that …

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WCF Names Stireman Regional Vice President in Utah

WCF Insurance has promoted Laura Stireman to Utah regional vice president. Stireman and her team Kevin McGee, Randah Urbina, and Tovik Olsen, will now focus on assisting Utah agencies with WCF’s staged growth into multi-peril products. She will continue to …

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Personal Lines Insurtech Root Files IPO Proposal with SEC

Root, Inc., the parent company of Root Insurance Co., has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be offered and the price …

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Energy Firm Evacuations Underway as Another Major Storm, Delta, Threatens Gulf Coast

Energy companies on Monday began evacuating offshore oil platforms as the 25th named storm of the year formed in the Caribbean and was forecast to become a major hurricane before it entered the Gulf of Mexico and threatens the U.S. …

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California Workers’ Comp Premium for First Two Quarters of 2020 Down 11%

Written workers’ compensation premium in California for the first two quarters of 2020 was 11% below that for the first two quarters of 2019, according to a new report out. The Worker’s Compensation Insurance Rating Bureau of California released its …

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Illinois Topped 300,000 Coronavirus Cases, Adds 31 Deaths

Illinois topped 300,000 confirmed coronavirus infections since the pandemic hit the state about seven months ago, state health officials said over the weekend. The Illinois Department of Public Health has recorded 300,088 COVID-19 cases and 8,774 deaths across the state. …

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Michigan Governor’s Coronavirus Powers Upended After Court Ruling

A 1945 law repeatedly used by Gov. Gretcher Whitmer to respond to the coronavirus pandemic was declared unconstitutional Friday by the Michigan Supreme Court, a striking decision that puts months of restrictions in jeopardy while COVID-19 continues to flare up …

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Woman Shot in Back in Missouri Gets $2M Settlement

A St. Louis, Mo., suburb has agreed to pay $2 million to settle a federal lawsuit with a suspected shoplifter who was shot in the back by a police officer who said she intended to use her stun gun but …

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Judge Tosses Case Over Texas Chemical Plant Fire During Harvey

A judge has dismissed the criminal case against a chemical manufacturer and one of its former employees over a fire at its plant near Houston during Hurricane Harvey, saying prosecutors failed to present sufficient evidence to support the charges. A …

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More Illinois Auto Crashes with Deer Expected as Mating Season Begins

Illinois motorists should beware of more deer activity this time of year, particularly at dawn and dusk. Officials from the Illinois Departments of Natural Resources and Transportation note that it’s deer mating season, meaning more deer will be on the …

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Ridesharing Companies Spend Big in California to Oppose Even Costlier Gig Law

Uber Technologies Inc. and Lyft Inc. together are spending nearly $100 million on a November California ballot initiative to overturn a state law that would compel them to classify drivers as employees. That sum looks less huge, however, than the …

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Enstar Offers to Purchase Watford Holdings for $620 Million, Surpassing Arch’s Offer

Enstar Group Ltd. has made a 100% cash offer to purchase Watford Holdings Ltd.for $31.00 per ordinary share, which amounts to $620 million. The Enstar offer is higher than another offer received recently from Arch Capital Group and a group …

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Proposed Virginia Bill Making Localities Responsible for Protest Damage Stalls

A Virginia General Assembly bill is likely dead for the session that would have held localities accountable for damages caused by protesters if an adequate police response was not provided. Del. Mark Cole, R-Fredericksburg, said he proposed House Bill 5026 …

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CMIC Group Rebrands as Integris Group, Reorganizes as Mutual Holding Company

CMIC Group has rebranded as Integris Group and reorganized into a mutual insurance holding company, after having received approval by the Connecticut Insurance Department on September 17, 2020, as well as from the CMIC Group board and its membership. In …

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Worldwide Facilities Acquires New Jersey’s Hunt Jorgensen

Worldwide Facilities LLC, a national wholesale insurance broker, managing general agent and program underwriter, has acquired Hunt Jorgensen LLC, a managing general underwriter specializing in professional liability insurance and related risk management services. Hunt Jorgensen LLC is headquartered in Maywood, …

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Court Approves $800 Million Settlement For Las Vegas Shooting Victims

A court last week approved a settlement totaling $800 million from casino company MGM Resorts International and its insurers to more than 4,400 relatives and victims of the Las Vegas Strip shooting that was the deadliest in recent U.S. history. …

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Insurers Gain Early Wins in COVID-19 Business Interruption Lawsuits

Insurers have succeeded in dismissing COVID-19 business-interruption lawsuits in 17 out of 23 cases heard so far, with a growing number of judges finding that some tangible alteration of a property is required to trigger coverage under commercial property policies. …

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SCOR Global P&C Restructures with Aim to Be More Responsive on Regional Basis

SCOR Global P&C is making a number of changes to its organizational structure to be more responsive on a regional basis, according to SCOR Global P&C CEO Jean-Paul Conoscente, who sent a message to clients on Friday, Oct. 2. “We …

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Supreme Court Agrees to Hear Jurisdiction Question in Climate Damages Lawsuit

The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp., Exxon Mobil Corp. and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact …

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Westland Insurance Acquires 2 Brokerage Firms in Alberta, Canada

Westland Insurance Group Ltd. announced it has acquired two brokers, based in Alberta, Canada, effective October 1, 2020. Ironside Insurance Brokers is a family-owned brokerage located in Carstairs, Alberta. Its professional insurance advisors are experts in residential, auto, life, travel, …

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Harris Joins QBE as CEO of International Division

Jason Harris has joined QBE Insurance this month to take on the role of chief executive officer, International Division, which includes European Operations. He will succeed Richard Pryce who will retire from QBE during Q1 2021, a plan that was …

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UK Insurer LV= in Exclusive Talks with Bain Capital About Possible Deal

UK insurance company Liverpool Victoria said it’s in exclusive talks with Bain Capital LP over a potential deal. The company, known as LV=, began a strategic review in June that included the possibility of a full or partial sale. “Discussions …

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UK Business Interruption Test Case to Get Fast-Track Appeal at Supreme Court

A test case brought by Britain’s markets regulator against some of the world’s biggest insurers will jump straight to the Supreme Court after London’s High Court agreed to a fast-track appeal on Friday. Although expedited, the appeal will further delay …

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Alabama Insurance Dept. Makes COVID-Related Producer Licensing Modifications

The Alabama Department of Insurance has issued a bulletin providing information and directives regarding current deadlines/requirements in the Producer Licensing Division related to the COVID-19 emergency. The Oct. 1, 2020 bulletin modifies bulletins issued on March 25, April 29, May …

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Georgia Begins Weeklong Crackdown on Distracted Driving

In an effort to get drivers to keep their eyes on the road while they’re behind the wheel, law enforcement officers in Georgia plan to participate in a statewide crackdown on distracted driving. State and local officers are joining a …

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Appeals Court Reinstates Glaxo $235.5 Million Verdict Against Teva

A federal appeals court on Friday reinstated a 2017 jury verdict ordering Teva Pharmaceutical Industries Ltd. to pay GlaxoSmithKline Plc $235.5 million for selling a generic version of Glaxo’s heart drug Coreg. In a 2-1 decision, the U.S. Federal Circuit …

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IMA Names Hennessey in California Cannabis Practice Leader

IMA Inc. has named Michael Hennessey as vice president, cannabis national practice leader. Hennessey is based in California. He will lead business development and client service efforts across the U.S. He joins IMA after holding a leadership role at ABD …

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Judges Nix Consolidating COVID Business Interruption Suits Against Big Insurers

A panel of federal judges has decided against consolidation of hundreds of lawsuits seeking coverage for coronavirus-related business interruption claims against major national insurers Travelers, The Hartford, Cincinnati Insurance and Lloyd’s. The insurers had opposed consolidation; some plaintiffs sought the …

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Everest Insurance Appoints Harnett, Nikodem and Lightbown to Key Underwriting Posts

Everest Insurance announced today three executive appointments in its underwriting leadership. Mike Harnett has been named chief underwriting officer for North America; Erik Nikodem has been appointed global head of Property and Neil Lightbown is joining the organization as chief …

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Business Continuity Firm Agility Recovery Acquires Chicago’s Recovery Solutions

Agility Recovery, a Denver-based provider of business continuity services for banking and insurance companies, has acquired Chicago, Illinois-based Recovery Solutions. Recovery Solutions delivers audit-ready and Federal Financial Institutions Examination Council compliant business continuity services that help companies protect their people, …

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New Jersey Man Sentenced to One Year in Prison for Role in Insurance Fraud Scheme

A New Jersey man has been sentenced to 12 months and one day in prison for his role in an automobile accident scheme supporting fraudulent insurance claims. Luis G. Aguirre, of Hudson County, N.J., was sentenced for his role in …

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UK Insurtech Zego Partners with 2 Independent Broker Networks to Expand Fleet Offering

London-based insurtech Zego has partnered with two of the UK’s biggest networks of independent brokers that sit within Bravo Group. Zego will benefit from access to a community of over 700 brokers, more than 60% of the UK independent broking …

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Iowa Relaxing Quarantine Guidance Despite Rapid COVID Spread

Gov. Kim Reynolds announced a policy change this week to make it easier for Iowa students, teachers and business workers exposed to someone with COVID-19 to avoid a two-week quarantine, despite a surge in cases across the state. Under the …

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Illinois Schools Paying $400K in 2 Physical Force Lawsuits

Chicago’s public school district has agreed to pay a total of $400,000 to settle two lawsuits that alleged staff members used physical force to punish two special education students. The Chicago Board of Education would not comment to the Chicago …

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Lawsuit Filed Against Trucker in Kansas Crash That Killed Mother, 4 Kids

The paternal grandparents of a 10-year-old Kansas girl killed in a crash last week are suing the truck driver involved in the collision, along with his employer. The Wichita Eagle reports that Mark and Carrie Brady are seeking damages in …

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Louisiana Race Track Settles With for $2.8M over Manure, Urine Discharges

The owners of the horse racing track in New Orleans have agreed to pay a $2.8 million penalty for letting horse manure and urine into the city’s drainage system for at least six years and to spend twice that on …

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Boston Insurance Brokerage Promotes Treen to VP of Finance and Administration

Boston Insurance Brokerage LLC (BIB) has promoted Casie Treen to vice president of Finance and Administration. Treen has been a member of the BIB team since 2011. She joined BIB as an intern while pursuing a degree in finance at …

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Pennsylvania-Based MedRisk Hires Lisenbey as President

MedRisk, a King of Prussia, Penn.-based managed care organization dedicated to the physical rehabilitation of injured workers., hired Danielle Lisenbey as president, effective November 2. In this role, Lisenbey will oversee the company’s day-to-day operations and new business initiatives as …

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Judge Blocks Trump ‘Secretive’ Commission Report on Police and Civil Justice

Before a U.S. federal judge on Thursday halted the work of a Trump administration law enforcement commission – saying it had violated public meetings laws – the panel had been warned about shutting out public input by several of its …

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Coal Executive Murray Files for Federal Benefits to Treat His Black Lung Disease

U.S. coal baron Robert Murray, whose company Murray Energy filed for bankruptcy last year, has applied for federal benefits to treat his black lung disease after opposing more stringent coal dust regulations for years, according to report by West Virginia …

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COVID-Sniffing Robots Promise Fast Testing Alternative

A biotechnology startup called Koniku is trying to develop robots that could sniff out Covid-19 infections faster than conventional testing. The technology fuses neurons with a silicon chip to create a “smell cyborg” capable of detecting scents ranging from explosives …

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Amazon Reveals 19,000 Frontline Workers Contracted Coronavirus

Amazon.com Inc. on Thursday said more than 19,000 of its U.S. frontline workers contracted the coronavirus this year, or 1.44% of the total, a disclosure sought by labor advocates who have criticized the COVID-19 response by the world’s largest online …

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Traffic Deaths Fell But Fatality Rate Spiked During Coronavirus Lockdowns

U.S. traffic deaths fell during the coronavirus lockdowns but drivers engaged in riskier behavior as the fatality rate spiked to its highest level in 15 years, according to preliminary data released Thursday. The National Highway Traffic Safety Administration (NHTSA) reported …

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Generali Completes Legal Merger of Subsidiaries in Portugal

After the completion of the acquisition of Seguradoras Unidas S.A. in Portugal in January, Generali concluded the process of the legal merger of all its 100% owned insurance subsidiaries in Portugal on Oct. 1, 2020. Seguradoras Unidas S.A. is now …

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UK MGA Manchester Underwriting Mgmt Buys Renewal Rights of Pinpoint Underwriting

Manchester Underwriting Management Ltd. (MUM) has acquired the portfolio renewal rights of Pinpoint Underwriting. The underwriting team at Pinpoint will be joining MUM with immediate effect. Pinpoint is a well-established MGA, specializing in writing UK professional indemnity. Pinpoint is headed …

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Russia-Backed Hackers Behind Most Nation-State Cyber Attacks: Microsoft

Russia-based hackers are responsible for the majority of nation-state attacks on Microsoft customers, according to new data from company. Microsoft Corp. has issued 13,000 alerts about nation-state hacking attempts to its customers in the last two years, with 52% of …

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Argument in London Pub Between U.S., British Agents Is Focus of UK Employment Suit

An insult-laden spat at a London pub that strained relations between U.S. and British law-enforcement agencies is at the center of a employment tribunal lawsuit against the UK Serious Fraud Office. Tom Martin, an investigator at the SFO, was fired …

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Virus Restrictions on Businesses, Gatherings Lifted in Most Tennessee Counties

Businesses in 89 of Tennessee’s 95 counties will no longer have to adhere to social distancing guidelines, Gov. Bill Lee announced Tuesday, even though cases of COVID-19 in the state have been persistently high. The Republican governor said he would …

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Appalachian Underwriters Makes 3 Promotions in Tennessee

Appalachian Underwriters, Inc. (AUI) has promoted three in-house Marketing team members Marketing representatives in its Oak Ridge, Tenn. Headquarters. The three members will service agents in their specific territories. The promotions include: Dakota Stiles, who will service the Delta area, …

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California Nursery Worker Arraigned for Alleged Workers’ Comp Fraud

Fernando Torres Garcia, 46, self-surrendered and was arraigned at the Kern County Superior Court in California this week on nearly a dozen felony counts of insurance fraud after allegedly misrepresenting an injury in order to receive undeserved workers’ compensation insurance …

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Narragansett Bay Insurance Expands into Delaware, Maryland

Narragansett Bay Insurance Company (NBIC) began writing property and casualty insurance in Delaware and Maryland, effective Oct. 1, 2020. The two states mark the seventh and eighth states where the company provides homeowners insurance. NBIC already provides homeowners insurance in …

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Researchers Film How Conversation Spreads Virus Inside Buildings

With implications for the transmission of diseases like COVID-19, researchers have found that ordinary conversation creates a conical ‘jet-like’ airflow that quickly carries a spray of tiny droplets from a speaker’s mouth across meters of an interior space. “People should …

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Pandemics Surpass Climate Change as Biggest Worry for Insurance Professionals: Study

Pandemics became the top concern for insurance professionals this year as the COVID-19 crisis roils the industry worldwide. Infectious diseases and pandemics were ranked as the most significant risks to society over the next five to 10 years in a …

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Uber, Lyft Seeking to Kill California Law App-Based Drivers

Californians are being asked decide if Uber, Lyft and other app-based drivers should remain independent contractors or be eligible for the benefits that come with being company employees. The battle between the powerhouses of the so-called gig economy and labor …

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Next Insurance Adds 24 States to Its Workers’ Compensation Market Map

Next Insurance has expanded its workers’ compensation offering into 24 additional states, including Arizona, Connecticut, South Carolina, Indiana and Virginia. The digital small business insurer said that the coverage is now available in 30 states overall, increasing its workers compensation …

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Massachusetts Natural Gas Company to Provide $10M in Grants to Nonprofits

The charitable arm of the gas company blamed for a series of natural gas explosions and fires in Massachusetts two years ago said it will provide $10 million to support nonprofits in the three communities affected by the disaster. The …

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Vermont Department of Economic Development Hires Nevins

The Vermont Department of Economic Development (DED) has hired Brittany Nevins as the new Captive Insurance Economic Development director. She replaces Ian Davis, Vermont’s former director of Financial Services. Nevins will be responsible for the marketing and business development of …

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Distinguished Programs Hires Guerrero as Regional Sales Executive in New York

Distinguished Programs, a national insurance program manager, has hired Brando Guerrero as a regional sales executive in New York. In this role, Guerrero will oversee growth/broker partners in Manhattan, the Hudson Valley and the rest of greater New York. He …

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Trump Signs Stopgap Government Funding Measure with 1 Year Flood Insurance Renewal

President Donald Trump signed a funding measure that will keep the federal government running until Dec. 11. The continuing resolution (HR 8337), which the House passed last week 359 to 57, was approved by the Senate in a 84-10 vote …

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Sedgwick Acquires Portuguese Loss Adjusting and Claims Management Firm

Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has acquired Perigest, a loss adjusting and claims management company in Portugal. “The transaction represents an important step for Sedgwick as a market leader in Spain and Portugal …

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More Than 7,500 Financial Services Jobs Move to Europe from London: EY Brexit Tracker

More than 7,500 finance jobs and a trillion pounds in assets have already left Britain for the European Union as banks prepare for full-blown Brexit in January, consultants EY said on Thursday. Banks, insurers and asset managers have opened new …

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France Urges Parts Review After Airbus A380 Engine Blowout Caused by Metal Fatigue

French investigators have called for a review of the design and maintenance of titanium alloy engine parts to ensure they guard against the risks of metal fatigue following an engine blowout on an Airbus A380 exactly three years ago. France’s …

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Centauri Insurance Taps Knutson as VP of Capital, Reinsurance Strategy

Centauri Specialty Insurance Holdings and its subsidiaries have appointed Paul Knutson vice president of Capital & Reinsurance Strategy. As a member of the executive team, Knutson is responsible for the design, negotiation and implementation of tailored internal and external products …

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UK COVID-19 Insurance Dispute Could Be Heading to Supreme Court as Talks Falter

Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to small businesses battered by the coronavirus pandemic, dashing hopes that a Supreme Court appeal could be easily avoided. The Financial …

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Carolina Construction Worker Fired, Punched for Complaining About Drunk Boss Wins Case

A federal appeals court has ruled that a North Carolina employee who was attacked and fired after he complained about his supervisor’s intoxication on the job is entitled to more than $1 million in damages and legal costs. Construction worker …

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G&G Independent Insurance Acquires Arkansas Insurance Advisors in Little Rock

G&G Independent Insurance (G&G) in Fayetteville, Ark., has acquired the Little Rock-based agency, Arkansas Insurance Advisors (AIA). The transaction became effective on Sept. 25, 2020. Founded in 2015, AIA is an independent insurance agency that focuses on ensuring clients have …

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Alera Group in Illinois Promotes Corrigan, Caracciolo and Cox

Deerfield, Ill.-based Alera Group has promoted several employees within the company’s executive leadership team: Brian Caracciolo will assume the role of chief financial officer; and Carolyn L. Cox will assume the role of general counsel; William Corrigan, the agency’s former …

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Allstate to Cut 3,800 Jobs as Latest Step in Multi-Year Growth Plan

The Allstate Corp. said it will cut approximately 3,800 jobs in claims, sales, service and support functions as part of its continuing plan to grow its property/casualty market share. The layoffs will affect about eight percent of the insurer’s 45,780 …

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FAA Chief Completes Boeing 737 Test Flight: Likes What He Saw But Process Not Done

Federal Aviation Administration (FAA) Chief Steve Dickson conducted a nearly two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a milestone for the jet to win approval to resume flying after two fatal crashes. Dickson, a …

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Cease and Desist Order Issued for Louisiana Agent for Alleged Premium Theft

The Louisiana Department of Insurance has issued a cease and desist order and summary suspension of producers license to a Lake Charles, La., agent for alleged misappropriation of premium funds. Valerie M. Muse reportedly confessed to her employer that she …

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Kennedy Named President and CEO of The Mahoney Group in Arizona

T. Scott Kennedy has been named as the president and chief executive officer of M&O Agencies Inc., which operates The Mahoney Group in Arizona. Kennedy has more than 30 years of insurance industry experience. His past positions include serving as …

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Plymouth Rock Assurance Launches Motorcycle Insurance in N.J., Pennsylvania

Plymouth Rock Assurance launched motorcycle insurance for riders across New Jersey and Pennsylvania. The launch of the product comes than a year after the company acquired Rider Insurance Co., which has focused on the motorcycle community for 50 years. Plymouth …

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AXA XL Expands Construction Offering to ‘Highly Protected Projects’

AXA XL’s North America Construction insurance business has expanded its insurance programs and services for construction projects to include customized coverage for risks that qualify as a “Highly Protected Project” (HPP) because of their implementation of technologies designed to reduce …

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Berkshire Hathaway GUARD Expands Commercial Package Coverage into Illinois

Berkshire Hathaway GUARD Insurance Companies has added Illinois to the list of states where the insurer offers its Commercial Package Policy. The product includes commercial property featuring limits up to $120 million per location (higher limits considered), with an enhanced …

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Former Kansas Employee Settles Case for $125K

A former employee of the Unified Government of Wyandotte County/Kansas City, Kansas, has won a $125,000 settlement after her boss was convicted of grabbing her by the shirt and pushing her into a wall. The Kansas City Star reports that …

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Minnesota Man Shot During Raid Settles Lawsuit for $6M

A Minnesota man who was shot by a sheriff’s deputy during a raid last year has settled a federal lawsuit for about $6 million. Shawn Olthoff, 35, was left paralyzed and uses a wheelchair after a Carlton County deputy shot …

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Kansas Sees Another COVID-19 Spike, Counties Worry About Aid

Kansas reported another seven-day record for new coronavirus cases, with 16% of the tests for the virus during that period coming back positive on Monday. The continued spike in confirmed and probable cases comes as officials in some Kansas counties …

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Gas Leak Leads to Explosion in Iowa, Several Homes Damaged

Fire officials are blaming a gas leak for an explosion that destroyed one Dubuque, Iowa home and damaged several others. KCRG reports that Chief Rick Steines with the Dubuque Fire Department said a machine struck a gas main Monday while …

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New California Law Comes From Crash That Killed Kobe Bryant

Gov. Gavin Newsom has approved legislation prompted by the helicopter crash that killed Kobe Bryant and eight other people that makes it a crime for first responders to take unauthorized photos of deceased people at the scene of an accident …

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Allianz Adds 3 From Argo to Cyber Insurance Team

Allianz Global Corporate & Specialty (AGCS) has made several hires to strengthen its cyber insurance underwriting team: Tresa Stephens as regional product leader; Josh Navarro, executive underwriter; and Ed Lee, underwriting specialist. Based in New York, Stephens will lead the …

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Personal Finance Firm Credit Karma to Offer Checking Account in U.S.

Personal-finance company Credit Karma said on Tuesday it would launch a checking account to U.S. members this year, making it the latest fintech to join the crowded digital banking market. Credit Karma Money Checking will initially be available only to …

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Rourke Appointed as SVP, General Manager of The Church Insurance Companies

The Church Pension Group (CPG), a financial services organization that serves The Episcopal Church, has appointed Christopher R. Rourke as senior vice president and general manager of The Church Insurance Companies (CIC). In this role, he will be responsible for …

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New Hampshire Music Fan Seriously Hurt by Stage Diver Wins $2M Settlement

A New Hampshire man who suffered serious spinal injuries when a stage diver landed on his head during a concert in New Jersey has reached a $2 million settlement with the show’s organizer. Jason Kooken, 46, of Exeter, was injured …

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Report: Nearly 2M Homes at Elevated Risk of Wildfire

Nearly 2 million homes, mostly in the Western U.S., with a rebuilding value of more than $638 billion are at an elevated risk of wildfire damage, a report out today shows. An annual wildfire report from data provider CoreLogic comes …

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The State of Surplus Lines Insurance: Busy Solving Risk Puzzles in a Complex World

Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly shedding undesirable accounts. Busy adapting to a market that …

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LL Global Selects Poklar to Lead Its Insurance Research Unit

LL Global, the Windsor, Conn.-based parent company for LIMRA, LOMA and Secure Retirement Institute, has tapped Mark Poklar to lead its insurance research unit. He will report to Alison Salka, senior vice president and head of LIMRA Research. During the …

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FAA Chief to Conduct Own Test Flight of Boeing 737 MAX

Federal Aviation Administration (FAA) Chief Steve Dickson is due to conduct a two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a key milestone for the jet to win approval to resume flying after two fatal …

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Amazon Workers’ Injury Higher Than Industry Average, Report Says

Amazon.com Inc. warehouse workers in the U.S. are getting hurt at a higher rate than the industry average, according to an investigative report. The rate of injuries contradicts more rosy assertions the company has made to lawmakers and the public, …

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Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln

Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …

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Private Equity Firm Hg Invests in Hyperion in Transaction Valued at US$5 Billion

Hg, the European private equity investor focused on software and service businesses, announced it will make a significant long-term equity investment in Hyperion Insurance Group Ltd., the insurance intermediary. The transaction values the business at an enterprise value of around …

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Many Financial Firms and Governments See Cryptocurrencies as Risky: Survey

Financial firms and governments overwhelmingly see cryptocurrencies as risky, a major survey found on Tuesday, with the potential for bitcoin and other digital tokens for use in money laundering and sanctions busting among the chief worries. Around 60% of respondents …

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Florida Attorney Behind Thousands of Insurer Lawsuits Violated 14 Bar Rules: Judge

Embattled Florida attorney Scot Strems, who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last several years, has been found by a court-appointed referee to have violated more …

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Equity Volatility Is Most Significant Risk for Investors: AIA Group CIO

Heightened equity market volatility extending beyond the U.S. presidential election is the most significant risk for investors, AIA Group’s chief investment officer said on Tuesday. Mark Konyn, group CIO at the insurance and securities firm in Hong Kong, told the …

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HDI Global Specialty Taps Inter Hannover’s Barenthein as MD of Scandinavian Branch

HDI Global Specialty SE has appointed Thomas Barenthein as the managing director of its Scandinavian Branch. Barenthein joins the specialty lines insurer from Inter Hannover where he was managing director, Sweden. The Scandinavian branch of HDI Global Specialty in Stockholm …

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COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks

Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks, which could also include a global …

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Texas Records $717.76M in Surplus Lines Premium in August

The Surplus Lines Stamping Office of Texas (SLTX) recorded $717.76M in Texas surplus lines premium during the month of August. SLTX said the premium recorded year to date through August represents an 11.1% increase over the same period in 2019. …

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Agents Warned of ‘Creative’ Attorneys, Virus Lawsuits

Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants start looking around for other sources of reimbursement …

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Chubb Names Updyke as Division President of Chubb Small Business

Insurer Chubb has named Jeffrey Updyke as vice president, Chubb Group, and division president, Chubb Small Business. In this capacity, Updyke will have executive responsibility for Chubb’s retail insurance business that serves small commercial clients in the U.S. and Canada. …

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Trump Plan Would Restrict Retirement Plans from Sustainable Investments: Viewpoint

Interest in sustainable investing is soaring, as more people become convinced that making a positive impact can be profitable as well as good for the planet and society. Unfortunately, the Labor Department doesn’t think these investments belong in your 401(k). …

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Connecticut Workplace Shooter Says Gun Fired By Accident

A man charged with wounding his boss and another employee in a shooting at a Connecticut trucking company told police his handgun fired by accident and he only intended to scare his manager, according to an arrest warrant released Thursday. …

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The Big Question Is Can U.S. Restrain Worsening Wildfires?

This is one of a series of interviews by Bloomberg Opinion columnists on how to solve pressing policy challenges. This conversation has been edited and condensed. Romesh Ratnesar: The American West is suffering through a devastating fire season. Wild fires …

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Pennsylvania’s Strickler Insurance Agency Joins Agency Network Exchange

Agency Network Exchange LLC (ANE) has added Strickler Insurance Agency Inc. in Lebanon, Penn., to its network to sixteen agencies in the state. Strickler Insurance Agency has been insuring individuals and businesses throughout the Mid-Atlantic region since 1860. Established in …

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Marsh Appoints Franklin as Chief Digital, Data and Analytics Officer

Insurance broker and risk adviser Marsh has appointed Tamara Simpkins Franklin as chief digital, data and analytics officer, effective October 1. Based in New York, she reports to Marsh President and CEO John Doyle. In this role, Franklin will be …

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Pandemic Brings Shift in Younger Workers’ Views of Employee Benefits

The coronavirus pandemic has led to a greater emphasis on employee benefits that help people plan for unexpected life events and provide financial protection, according to a study by The Hartford. The Hartford’s Future of Benefits Study found that 40% …

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Meat Plant Workers Being Denied Workers’ Compensation for COVID-19: Reuters

Saul Sanchez died in April, one of six workers with fatal COVID-19 infections at meatpacker JBS USA’s slaughterhouse in Greeley, Colorado, the site of one of the earliest and deadliest coronavirus outbreaks at a U.S. meatpacking plant. Before getting sick, …

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Uber Granted 18-Month License Extension in London After Legal Review

Uber Technologies Inc. won the ability to continue operating in its biggest European market after a London judge granted the ride-hailing service an 18-month license extension. Uber did enough to satisfy the court that it was now “fit and proper” …

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Howden Acquires London-Based Broker St Giles Legal & Professional Risks

Howden, the independent employee-owned insurance broker, announced it has reached an agreement to acquire St Giles Legal & Professional Risks, a London-based professional indemnity insurance broker specializing in the UK solicitor sector, a market in which Howden is already a …

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Executives Reassess Work-Life Balance After Experiencing Coronavirus Blues: Survey

Nearly eight out of 10 corporate executives have experienced poor mental health during the coronavirus crisis, prompting a number of them to re-evaluate and improve work-life balance, a survey showed on Monday. Many top company officials in France and Egypt …

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Guy Carpenter Taps Miller from Aon to Lead Property Catastrophe UK, Global Specialties

Guy Carpenter & Co., the reinsurance brokerage business of Marsh & McLennan Cos., announced the appointment of Paul Miller to lead Guy Carpenter’s Property Catastrophe value proposition for UK, Global Specialties and key global clients, effective September 2021. Miller will …

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Insurers, UK Regulator Seek Clarity About Ruling on Business Interruption Disputes

RSA Insurance Group Plc and other insurers will try to take a dispute over COVID-19 payouts directly to the UK Supreme Court if they can’t reach a deal with regulators. Several insurance firms and UK regulators filed applications to “leapfrog” …

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MGA New Paradigm Aims to Bridge the Natural Catastrophe Protection Gap

Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully addressing the needs of commercial property insurance …

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Envelop Risk Paves the Way as Insurtech Reinsurance MGA

Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber reinsurance from an underwriting perspective,” said Jonathan …

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Reinsurance Experience in Africa, Asia Sets MGA Tempo Underwriting Apart

Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering, you have to …

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Finding Niches: Reinsurance MGAs Carving Out Special Market Slices

Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not commodity players. They aim to bring …

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Close Call with Laura Renewed Debate over Houston Storm Surge Barrier

Houston, a Gulf Coast city that barely rises above sea level, has long worried about a worst-case weather scenario — a direct hit from a powerful storm that sends a wall of water barreling into the region’s petrochemical facilities, possibly …

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Florida Supreme Court Caps High School Shooting Liability at $300K

The Florida Supreme Court ruled Thursday that a school district can’t be forced to pay more than $300,000 total to the victims or their families in the Parkland high school massacre that left 17 people dead and another 17 wounded. …

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CAC Specialty Adds Martin, Flynn, Kasperkowiak to M&A Solutions Group

CAC Specialty has made several new hires to its M&A Solutions Group. Cameron Martin and Katie Flynn have been named senior vice presidents to the M&A Solutions Group, and Erica Kasperkowiak was named senior vice president of the newly created …

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NFP Acquires Hutch Hubby & Associates in Austin

National insurance broker NFP has acquired the Austin, Texas-based employee benefits firm, Hutch Hubby & Associates. The acquisition is NFP’s third in central Texas in 2020. The firm’s principal, L. Hutch Hubby, brings NFP over 40 years of experience serving …

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White House Vows 150 Million Rapid COVID Tests for Schools, Seniors

President Donald Trump, under fire over his handling of the coronavirus epidemic, announced on Monday the federal government would ship 150 million rapid tests to U.S. states and warned an increase in positive cases is likely in the days ahead. …

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U.S. Pension Funds Sue Allianz After $4 Billion in Coronavirus Losses

Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown. Market panic around the …

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SterlingRisk Insurance Promotes DelPrete to Chief Marketing Officer

SterlingRisk Insurance, a Woodbury, N.Y.-based, independently owned insurance brokerage, has promoted Geraldine DelPrete to chief marketing officer. According to SterlingRisk CEO David Sterling, DelPrete will oversee the strategy for all carriers across all SterlingRisk platforms, including large commercial and select, …

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Police Say Connecticut Workplace Shooter Extradited, Charged with Assault

A truck driver accused of shooting his boss and wounding another person outside a Connecticut industrial building was charged Wednesday with assault and other crimes after being brought back from Massachusetts, where police arrested him at gunpoint on a highway. …

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Major U.S. Tech Firms Look to Be Ignoring Europe’s Data Privacy Rules

Technology firms’ compliance with European restrictions on transatlantic data transfers is shockingly poor, Austrian privacy campaigner Max Schrems said on Monday, publishing a survey of companies including Facebook and Netflix. The Court of Justice of the European Union (CJEU) ruled …

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Even Failed Claims Against Nurses Cost Insurers $20K, Liability Study Shows

Liability claims that involve nurses cost an average of $210,513 if a large indemnity payment is made, but even claims that are dropped, defeated or dismissed end up costing more than $20,000, according to a report released by CNA and …

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Wildfire Forces Home, Hospital Evacuations in California’s Napa Valley Wine Area

A wind-driven wildfire erupted on Sunday in the heart of northern California’s Napa Valley wine country to spread across nearly 2,000 acres (809 hectares), forcing the evacuation of a hospital and hundreds of homes, authorities said. Fire crews were out …

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Munich Re Subsidiary NewRe Names Braune as CEO, Succeeding Strasser

New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020, succeeding Dr. Renate …

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Beazley Expands Life Sciences Insurance Offering in UK

Specialist insurer Beazley has enhanced its life sciences insurance offering in the UK with the launch of a new policy designed to protect the sector’s small and start-up research & development-focused organizations. This follows the UK launch of Beazley’s internationally …

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Florida Peninsula Promotes Gonzalez to Director of Agency Support

The Florida Peninsula Insurance family of companies, which includes Edison Insurance Co., has promoted Mariella Gonzalez to director of Agency Support. In addition to her current role as director of Community Involvement, Gonzalez will now oversee all agent support functions …

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Mississippi Receives $23M in Federal Funds for Flood Relief

Mississippi has received nearly $23 million in emergency relief funds from the U.S. Department of Transportation to repair federal roadways that were damaged by severe flooding. U.S. Sen. Cindy Hyde-Smith announced the five Federal Highway Administration awards on Thursday, according …

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Insurer Ping An Taps Rising Demand for Chinese Assets with Offshore Management Arm

Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants intensifies. The overseas asset management arm aims to increase …

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Opinion: Missouri Appeals Court Ruling Shrinks Insurers’ Right to Intervene

The Western District of the Missouri Court of Appeals has again construed the effect of the 2017 amendments to Mo. Rev. Stat. § 537.065, which gave insurers a limited right to intervene and protect their interest when their insured enters …

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Texas Agency, A-MAX Auto, Expands in Houston Area

Dallas-based A-MAX Auto Insurance has opened two new locations opening in the Houston, Texas, area. With the two new locations — one in Houston and one in nearby Tomball, Texas, the company now has 193 offices statewide. A-MAX Auto Insurance …

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UK Insurer LV= Says Talks Continue with Number of Parties About Possible Merger

UK insurance company Liverpool Victoria said it remains in talks with a “number of parties” about a possible transaction after Sky News reported it was negotiating a merger with rival Royal London. The company known as LV= “confirms that as …

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Reinsurance Demand Rises, Along with Flight to Quality, Say Industry Experts

Not only has reinsurance buying increased, but there also has been a flight to quality reinsurers by ceding insurance companies, according to several reinsurers and brokers in recent webinars held in lieu of what would have been the reinsurance Rendez-Vous …

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Louisiana Utility: Hurricane Laura Repair Costs Now at $1.4B

A Louisiana utility says the cost to restore electricity and repair power lines damaged in the state during Hurricane Laura is now up to $1.4 billion. Entergy Corp., the New Orleans-based utility serving many of the areas affected by the …

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Alphabet Settles Suit Over Executives’ Exit Pay, Coverups Linked to Sexual Misconduct

Alphabet Inc. on Friday settled a shareholder lawsuit that accused the Google parent of covering up lavish exit packages to executives found responsible for sexual misconduct, saying it would overhaul workplace policies and increase oversight of its diversity efforts. The …

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CopperPoint in Arizona Reelects Directors Patrick and Tully to Board

Judith Patrick and Mike Tully have been reelected to the board of directors for CopperPoint Mutual Insurance Holding Co. The results of the election were announced at the annual members’ meeting in mid September. Patrick and Tully will serve terms …

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Crest in Colorado Promotes VanGotten to Assistant Commercial Lines Manager

Crest Insurance LLC of Denver, Colo., has promoted Jason VanGotten to assistant commercial lines manager. His prior experience includes ownership of a home inspection company, and a producer for Colorado Restaurant Insurance. He joined Crest Insurance in 2018 as a …

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EU Strikes Low-Cost Deal With AstraZeneca to Pay COVID-19 Vaccine Claims

European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its potential COVID-19 vaccine, under different terms to a deal struck with Sanofi, an EU official told Reuters. The deals reflect different strategies by two of …

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UN Envoy Carney Backs Investors’ Call for Increased Climate Risk Disclosure

United Nations climate envoy Mark Carney on Thursday threw his weight behind a growing push by investors for companies to more accurately reflect climate-related risks in their financial accounts. Such risks can range from physical dangers such as water levels …

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D&O Insurers Under Pressure But Big Enough to Handle Pandemic Claims, Says Fitch

As claims related to the economic fallout from the pandemic emerge in the U.S. directors & officers (D&O) liability insurance segment, insurers can expect the claims to take several years to pay out and underwriting losses to continue over the …

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Four Senior-Level Black Managers Including Diversity Leaders Exit AIG

American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer’s ranks. Global inclusion head Vievette Henry and Walter Hurdle, who had previously run diversity efforts …

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U.S. to Research Transmission of COVID-19 in Beef Supply Chain

The U.S. Department of Agriculture is funding a $1 million research project to identify how the virus that causes COVID-19 might be transmitted in the nation’s beef supply chain, from cattle on the farm to the packages of meat inside …

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Michigan House Passes Bills Shielding Employers from Virus Lawsuits

A divided Michigan House voted on Sept. 23 to shield health providers and businesses from coronavirus-related lawsuits filed by patients, employees or customers, advancing bills that majority Republicans said would give businesses more comfort to reopen and block frivolous complaints. …

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Texas Software Provider to Local Governments Reports Data Breach

A Texas-based provider of software services to local governments and schools across the United States, Tyler Technologies, told customers on Sept. 23 that an unknown intruder broke into its phone and information technology systems. It could not immediately be determined …

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Dismissal Rejected; Arkema Chemical Fire Criminal Trial Resumes in Houston

A criminal case against the U.S. arm of a French chemical maker accused of releasing pollution that injured 21 people resumed on Sept. 24 under a cloud as a judge ruled out a motion to dismiss the case. Prosecutors unintentionally …

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Louisiana Agent’s License Suspended for Misappropriation, False Insurance Certificates

A Lake Charles, Louisiana, insurance producer has been issued a cease and desist order and had her license suspended amid an investigation into misappropriation of insurance premiums and the issuing of false insurance certificates to customers. The Louisiana Department of …

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California Governor Planning to Ban Sale of New Gas Vehicles in 15 Years

California will ban the sale of new gasoline-powered passenger cars and trucks in 15 years, Gov. Gavin Newsom announced Wednesday, establishing a timeline in the nation’s most populous state that could force U.S. automakers to shift their zero-emission efforts into …

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Western Wildfires Taint Vineyards With Taste Of Smoke

Smoke from the West Coast wildfires has tainted grapes in some of the nation’s most celebrated wine regions with an ashy flavor that could spell disaster for the 2020 vintage. Wineries in California, Oregon and Washington have survived severe wildfires …

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Lockton Names Huston Senior Vice President in Washington

Lockton Cos. has named Danielle Huston a senior vice president. Huston will support the growth of Lockton’s Washington office and oversee the introduction of benefits consulting services to the local market. She was previously with Propel Insurance. Lockton is an …

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New York Again Ranks as Top Global Financial Hub But London Gains in Volatile Index

New York again heads the rankings of the world’s leading global financial centres. The Global Financial Centres Index 28, launched by London think tank Z/Yen Group in partnership with the China Development Institute (CDI), shows London improved its performance in …

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New York Drywall Installer Arrested for Failing to Provide Workers’ Comp Insurance

New York State Inspector General Letizia Tagliafierro has announced the arrest of a capital region area drywall installer who allegedly failed to provide legally required workers’ compensation insurance to his employees. Dennis R. Hammonds, 40, owner and operator of Hammonds …

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Boston Insurance Brokerage Appoints Driscoll as CEO

Boston Insurance Brokerage LLC (BIB) has appointed Keith Driscoll as CEO. Driscoll has been a member of the BIB team since 2013, beginning as vice president of the Workers’ Compensation Division before being promoted to executive vice president and chief …

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Pacific Resources Benefits Advisors Names Judd as CEO, Vaughan as President

Pacific Resources Benefits Advisors LLC, a Boston, Mass.-based subsidiary of Brown & Brown Insurance and a non-medical employee benefits consulting firm, has announced Chris Judd as the company’s new CEO and Ken Vaughan as the company’s new president, along with …

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Travelers Offers Artificial Intelligence for Companies to Assess Worker Safety

The Travelers Companies said it has started using artificial intelligence to offer business customers virtual and onsite ergonomic assessments. Travelers claims to be the first insurance carrier to provide the service. According to the insurer, the new offering combines AI-based …

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New Crash Test Dummy Is a 3-Year Old

The National Highway Traffic Safety Administration has a new crash test dummy. Known as the Q3s, the new crash test dummy represents a 3-year-old child and is the first child side impact dummy in federal regulations. Q3 was specifically designed …

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Swiss Re Announces Plans to Streamline Structure of Group

Swiss Re announced further streamlining of the legal entity structure of the group. Following the announcement on June 19, 2020 that the Life Capital Business Unit will be disbanded, Swiss Re also intends to reorganize the legal entity structure of …

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Formation of More ‘Class of 2020’ Reinsurers Unlikely

The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring …

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What Ever Happened to Hedge Fund Reinsurers?

The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of …

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Alabama City Officials Drop Chemical Contamination Lawsuit

Officials in the northwest Alabama city of Guin have dropped a lawsuit against chemical giant 3M that alleged chemicals from its manufacturing plant had entered a creek that supplies drinking water to the community. The Guin Water works & Sewer …

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A.J. Gallagher Alleges Alliant’s Poaching ‘Playbook’ Has Cost It Employees, Clients

California-based insurance broker Alliant is again being sued over an alleged poaching scam, this time by rival Arthur J. Gallagher & Co. Gallagher claims Alliant, with assistance and capital from its private equity partner Stone Point Capital, has engaged in …

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Lloyd’s CEO Neal Sees Appeal of COVID Business Insurance Ruling Coming

Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be appealed. London judges ruled that some of the world’s …

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Court Nixes Opioid Proposal That Would Have Included Cities That Have Not Sued

A federal appeals court on Thursday overturned a judge’s approval of a novel plan by lawyers representing cities and counties suing drug companies over the U.S. opioid crisis that would bring every community nationally into their settlement talks. The 6th …

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Brazil’s State-Owned Caixa Again Postpones IPO of Its Insurance Unit

Brazilian state-owned lender Caixa Economica Federal said on Thursday that it had indefinitely postponed plans for an initial public offering of its insurance unit Caixa Seguridade, the second time this year the high-profile deal has been put off. Caixa Economica …

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Arch Forms Underwriting Partnership with ProHost for Restaurant Industry Program

Arch Insurance has formed an underwriting partnership with ProHost USA, a Minneapolis-based insurance program administrator providing specialty packages to the restaurant industry. ProHost USA is part of Distinguished Programs, a national program administrator. Retail agents can now learn about and …

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Chinese Companies Lag Far Behind in Climate Risk Disclosure

A report on the current state of climate risk disclosures among the largest companies in China and the United States found that Chinese companies lag significantly behind their global peers in the S&P 500 in climate risk disclosures and need …

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NTSB: Loose Joint Caused Train Derailment that Killed Man in Texas

A loose, improperly fastened rail joint led to a 2017 derailment in a North Texas rail switching yard that killed a worker, the National Transportation Safety Board has found. A misaligned rail joint allowed the flange of a freight car …

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New Mexico Disabled Woman Getting $300K Settlement

New Mexico State Police have reached a $300,000 settlement with a disabled woman who accused an officer of grabbing and handcuffing her after she refused to provide ID in 2016. Jessica Guttman claimed in her 2018 lawsuit that she and …

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Oregon Businesses Threatening to Sue Over Virus Restrictions

Several Oregon businesses have threatened a class action lawsuit against the state over COVID-19 restrictions implemented by Gov. Kate Brown to slow the pandemic. A lawyer representing the businesses argues that Oregon officials should draft a plan to compensate small …

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Peak Re Appoints Pioneer’s Souter as Director of Markets for P/C Business

Hong Kong-based Peak Re announced the appointment of Andrew Souter as director of markets responsible for developing the company’s property/casualty reinsurance business. Souter brings with him 18 years of experience in the finance industry. He joins Peak Re from Pioneer …

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Ant Group Eyes Raising $17.5 Billion via Hong Kong IPO Without Cornerstone Investors

China’s Ant Group plans to raise about half of its $35 billion dual listing via the Hong Kong leg, without setting up a cornerstone tranche and betting on strong demand from institutional investors even without lock-up commitments, sources said. Backed …

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Most Important Climate Pledges Aren’t the Splashy Ones

It’s Climate Week in New York, which brings with it a raft of announcements from companies outlining their new decarbonization targets and clean investment strategies. Some of the declarations are hefty, like Walmart Inc.’s plan to reach zero emissions across …

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Mutual Insurer Group NAMIC Names Merchants Mutual’s Zak as Chair

The National Association of Mutual Insurance Companies welcomed its new chairman – Robert Zak, president and chief executive officer of Merchants Mutual Insurance Co. – this week during its all-virtual 125th annual convention. Zak, a 35-year mutual insurance industry veteran, …

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More Firms Turning to Insurance Captives in Tightening Market: Marsh

More organizations are using captives for insurance protection and financial flexibility in response to today’s risk and insurance landscape. In its 2020 captive report, insurance broker Marsh says that that tightening global insurance market conditions throughout 2019 led to higher …

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Next Insurance Attracts $250M in New Financing; Its $631M to Date Beats Lemonade

Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings. CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in …

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As Wildfires Spread, Public Safety Tech Startups Lack Venture Capitalists’ Backing

Silicon Valley’s innovation engine has been slow to produce useful new tools to help firefighters like Dave Winnacker extinguish the deadly blazes that each year fill California’s skies with smoke. Winnacker, a fire district chief who led a team against …

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SEC Toughens Rules on Shareholder Proposals

The U.S. Securities and Exchange Commission (SEC) voted 3-2 on Wednesday to make it tougher for shareholders to push companies on issues such as climate change, social justice and diversity, with Democratic commissioners dissenting against the move. The rule, first …

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Two Wounded in Connecticut Workplace Shooting, Suspect in Custody

A shooter opened fire and wounded two people outside a Connecticut business Tuesday and was taken into custody at gunpoint on a highway in Massachusetts, police said. Both victims were treated at a hospital and discharged. Authorities identified the alleged …

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Reliance Global Group Acquires New York’s UIS Agency

Reliance Global Group Inc. has acquired the assets of UIS Agency LLC, a Thiells, N.Y.-based insurance agency serving the commercial transportation industry. Reliance Global Group CEO Ezra Beyman said in a company press release that UIS will compliment Reliance’s existing …

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World Insurance Associates Acquires New Jersey’s Gateway Agency National

World Insurance Associates LLC (WIA) acquired Gateway Agency National of Highlands, N.J., on September 1, 2020. Terms of the transaction were not disclosed. Founded in 1981, Gateway specializes in home, automobile, boating and life insurance needs for clients across New …

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Berkshire Hathaway Guard Professional Liability Products Expanded Into New States

Berkshire Hathaway GUARD Insurance Companies has furthered expanded the company’s professional liability products, which include coverage for lawyers, architects and engineers, accountants, as well as nearly 100 other classes of business. Most recently, the company has added professional liability coverage …

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Beecher Carlson Taps James as Director of Diversity & Inclusion

Beecher Carlson Insurance Services, LLC, a specialized large account insurance broker, has promoted Raven James to director of Diversity & Inclusion. In this newly created role, James will lead the Diversity & Inclusion (D&I) council in setting D&I strategies for …

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What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights

Lockton Re’s Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are exactly the same. For the two men personally, …

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Businesses Face Fewer Cyber Events, But the Attacks Are More Costly

The stakes are higher than ever for businesses when it comes to cyber risk, especially with the added complexity of COVID-19 thrown into the mix. Yet, even before the global pandemic struck, companies had been taking more action than ever …

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Texas Staffing Firm Sued for Disability Discrimination

Federal officials have sued a Houston-based staffing firm over allegations of workplace disability discrimination. Swift Technical Services LLC, doing business as Airswift, a Houston-based staffing firm focused on the oil and gas industry, violated federal law when it refused to …

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The Liberty Company Insurance Brokers Adds Borchardt in California

The Liberty Company Insurance Brokers has named Sean Borchardt a partner in the Woodland Hills, Calif., office. Borchardt has more than 15 years of experience. He previously has held positions at Gallagher, Relations Insurance and Tolman & Wiker. The Liberty …

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Congress Parks Self-Driving Car Regulation Until 2021

The U.S. Congress will try again in 2021 to try to approve long-stalled reforms to speed the adoption of self-driving cars, a key Democratic lawmaker said Wednesday. U.S. lawmakers have been divided for years over how to reform regulations governing …

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Insurers May Cut Allocations to Poorly Performing Hedge Fund Investment Sector

Having complained for years about hedge funds’ high fees and lackluster performance, insurance firms may be preparing to cut allocations to the sector after its poor performance during recent market upheaval left many of them nursing losses. That would be …

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Crest Insurance in Arizona Names Hankal Commercial Lines Manager

Crest Insurance Group LLC of Scottsdale, Ariz. has promoted Lisa Hankal to commercial lines manager. Hankal will be overseeing employees within the commercial lines department from all seven branches including Tucson, Scottsdale, Sierra Vista, Flagstaff, San Diego, Denver and Ft. …

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CAC Specialty in Colorado Adds Movafaghi to its Tax Insurance Practice

Denver, Colo.-based CAC Specialty has named Matt Movafaghi a senior vice president in its tax insurance practice. Movafaghi was most recently a senior tax counsel for Chevron Corp., where he was responsible for implementing tax planning strategies and advising management …

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Few Resources, Old-Growth Forest Allowed Growth of California Wildfire

A lack of firefighting resources in the hours after it was sparked allowed a fast-moving wildfire to make an unprecedented run through Southern California mountains and eventually find fuel in old-growth trees to become one of Los Angeles County’s largest …

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For Carnival Cruse Lines, 1920 ‘Death on the High Seas Act’ Curbs Coronavirus Damages

Carnival Corp. is poised to dramatically curb monetary damages for passengers killed by the coronavirus under the latest court decision to side with the company. If a ruling Monday by a Los Angeles federal judge is followed by others, it …

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Juul’s Defense of Its Marketing E-Cigarettes to Youth Questions Use of Organized Crime Law

Juul Labs Inc. has the Mafia to thank for the most potent legal claims accusing the e-cigarette maker of igniting an epidemic of youth nicotine addiction. The company will try to persuade a federal judge Monday that consumers and school …

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Justice Department Set to Unveil Plan to Limit Internet Firms’ Liability Protections

The U.S. Justice Department will unveil later on Wednesday a proposal that seeks to limit legal protections for internet platforms on managing content, a person briefed on the matter confirmed. The proposal, which takes aim at Facebook Inc., Twitter Inc. …

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House Votes to Extend Flood Insurance Program 1 Year; Senate Yet to Vote

The House of Representatives yesterday extended the National Flood Insurance Program until Sept. 30, 2021 as part of a measure to fund the federal government through December 11. The flood insurance program is currently set to expire in a week …

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MMG Insurance Company Hires McPherson as Senior Vice President of Operations

MMG Insurance Company has hired David McPherson as senior vice president of operations, effective September 1, 2020. McPherson will work closely with Matt McHatten, current executive vice president and chief operating officer, to transition into his role. This new position …

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The Hilb Group Acquires Connecticut’s Ganim Group

The Hilb Group LLC (THG) has acquired Connecticut-based Ganim Group Inc. (Ganim Benefits) from Ganim Financial Inc. The transaction became effective on September 1, 2020. The Ganim Benefits team, including Valerie Koch, will join THG of New England and continue …

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Small Plane Crash Lands on Street in Pennsylvania, Two Injured

A small plane traveling from Vermont crash landed on a residential street in Pennsylvania, injuring the pilot and a passenger. The single-engine aircraft was trying to land at Wilkes-Barre/Scranton International Airport on Sunday night when the pilot apparently had engine …

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Citing U.S. Sanctions, Insurers Won’t Cover Ships For Russia, Turkey Pipelines Projects

The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to the International Group of P&I Clubs, including …

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Florida OKs Emergency Adjusters, Brings In Fraud Strike Teams for Sally Recovery

The Florida Department of Financial Services has deployed its Disaster Fraud Action Strike Team (DFAST) to the Florida Panhandle, as well as activated the state’s emergency adjuster license system to assist with recovery efforts from Hurricane Sally. According to a …

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Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B

Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and reinsurers. “Because Sally appears to be primarily a flood event, …

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Texas’ Blue Bell Creameries to Pay $17.25M in Penalties for Listeria Contamination

Texas-based Blue Bell Creameries L.P. has been ordered to pay $17.25 million in criminal penalties for shipments of contaminated ice cream products linked to a 2015 listeriosis outbreak, according to the U.S. Justice Department/ Blue Bell pleaded guilty in May …

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Independent Brokers Will Remain Competitive by Adding Value to the Value Chain

The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. Indeed, Esser said, the COVID-19-related coverage disputes involving business interruption pandemic …

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Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change

Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary …

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Texas Auto Insurance Plan Association Requests 4.8% Commercial Rate Hike

The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in commercial automobile rates. TAIPA proposed an effective …

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Lockton Pacific Promotes Hostovich and Barnes in California

Lockton Insurance Brokers LLC, the Pacific region of global insurance broker Lockton Cos., has named Teena Hostovich vice chair of Lockton Pacific and Greg Barnes president of Greater Los Angeles. Barnes and Hostovich are based in Lockton’s Los Angeles office. …

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Shopify Customer Data Likely Exposed by 2 Employees Attempting to Steal Records

Shopify Inc. said on Tuesday data of customers who shopped at fewer than 200 merchants listed on the company’s e-commerce platform was likely exposed after two employees tried to steal transaction records. The data exposed includes email, name, and address, …

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Confident Russia Vows to Shoulder Some of the Legal Liability of Its COVID-19 Vaccine

Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project …

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Toyota Insurance in Europe Joins Swiss Re’s Vehicle Risk Rating System

Toyota is the newest partner in the Swiss Re platform that provides a risk score on vehicles so insurers can develop premiums that reflect new safety features. Through this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Europe, Swiss Re …

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Labor Department Eyes Simpler Rule for Classifying Independent Contractors

The U.S. Department of Labor on Tuesday said it would soon propose a rule that could make it easier to classify workers as independent contractors rather than employees, a major issue for the “gig economy” and other industries that use …

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Arch Insurance Forms Single Managing Agency to Manage 4 Lloyd’s Operations

Arch Insurance International has formed Arch Managing Agency Limited to mange its Lloyd’s units. Arch Managing Agency Limited, which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency Ltd. into a single operation, will manage Syndicate 2012, Syndicate 1955, …

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Copperpoint in Arizona Names Pytel Vice President, Marketing Chief

CopperPoint Insurance Cos. has named Thomas Pytel vice president, chief marketing and corporate communications officer. Pytel ‘s responsibilities include leading the marketing and communications functions for the CopperPoint family of insurance companies. He was most recently vice president, marketing and …

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New York Calls on Insurers to Address Climate-Related Financial Risks

New York State Department of Financial Services (DFS) Superintendent Linda Lacewell today implemented several new initiatives to address climate-related financial risks, calling on insurers to begin integrating these practices into their risk management and business strategies. This move comes amidst …

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Tree on Power Line Apparent Start of Washington Fire

A tree that made contact with a power line apparently started a wildfire that burned dozens of homes in eastern Washington, according to a utility company. The fire burned the vast majority of homes in Malden and Pine City, including …

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P/C Mutual Insurers Improved Underwriting in 2019; Top 10 Hold 72% of Market: AM Best

Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to grow surplus. According to the AM Best Market Segment Report, “U.S. Mutuals’ Strong …

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University of Washington Student Suing for Refund Because of Online Classes

A graduate student at the University of Washington filed a lawsuit demanding tuition reimbursement after the school shifted most of its classes online for the remainder of the year. Alexander Barry wrote in the complaint filed Wednesday in King County …

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California Wildfire Threatening More Than 1,000 Homes

A wildfire burning through brush and timber from the mountains to the desert northeast of Los Angeles threatened more than 1,000 homes on Tuesday as crews across the West battled dozens of other major blazes. The Bobcat Fire in Southern …

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Music Festivals Testing ‘Bubble’ Strategies to Bring Back Outdoor Events

A 200-strong coterie of mostly men gathered in the Poconos Mountains earlier this month to engage in what some regard as this pandemic era’s ultimate taboo: a bacchanalian party. The Utopia music festival took place over the Labor Day holiday …

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California Burnin’ — a Warning Against One-Party Rule: Opinion

“California, folks, is America fast forward.” Thus said Governor Gavin Newsom, hoarsely, amid brown smoke at the North Complex Fire on Sept. 11. “What we’re experiencing right here is coming to a community all across the United States of America …

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Coronavirus Safety: U.S. Behind Global Rivals in Protecting Meat Plant Workers

The U.S. government is falling behind global rivals when it comes to protecting meatpacking workers from Covid-19 infections, even though the nation’s plants were among the first to confront rampant cases across factories. In Germany, the government is ready to …

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Three Suffer Minor Injuries When New York City Subway Hits Debris and Derails

Three passengers suffered minor injuries Sunday when a New York City subway train derailed after hitting construction debris that had been thrown onto the tracks, authorities said. The derailment happened at about 8:15 a.m. at the 14th Street and Eighth …

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Davies Acquires Massachusetts’ TriPlus Service in North American Expansion

Davies, a specialist professional services and technology business, has acquired TriPlus Service Inc, a long-term care insurance third party administrator (TPA) based in Massachusetts. TriPlus provides its long-term care carrier clients with claims and policy administration management solutions as well …

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UK Seeks to Reform How Motor, Home Insurers Treat Loyal Customers

The Financial Conduct Authority has set its sights on revamping the UK motor and home insurance marketplace to help customers, especially loyal policyholders, save money. The FCA is proposing reforms of these markets that it says will “enhance competition, ensure …

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2 Cruise Lines Submit 74 Safety Steps to Convince CDC to Lift No-Sail Order

A panel set up by Royal Caribbean Group and Norwegian Cruise Line Holdings Ltd. said on Monday it had submitted a report to the U.S. Centers for Disease Control and Prevention (CDC) detailing health and safety protocols, hoping to set …

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COVID-19 Vaccine Makers Expect EU Liability Shield for Unexpected Side-Effects

Vaccine makers will be indemnified in Europe if their COVID-19 shots cause unexpected side-effects, an industry official said on Tuesday, as nearly 40 firms pursue talks on possible authorisation for shots in development. The European Commission has confidential liability clauses …

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Banks, Insurers Await ‘Brexit Dividend’ of ‘British-Style’ Regulation

Britain will adopt tough but less bureaucratic financial rules after Brexit, starting with simpler regulation of small banks, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain will soon unveil new legislation for regulating the City of London, …

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AAIS Pandemic Policy Endorsement Approved in 6 States

AAIS (the American Association of Insurance Services) has received approval from six state insurance departments for its health-emergency policy endorsement, clarifying coverage and cancellation provisions in the wake of COVID-19. To date, the endorsement has been approved in Arkansas, Arizona, …

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Minnesota Warns of Possible Health Care Patient, Donor Data Breach

Patients and donors to at least four different health care providers in Minnesota are being notified that their personal information may have been compromised. The potential data breach involves hundreds of thousands of patients and donors at Children’s Minnesota, Allina …

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5th Circuit Reasserts Bad Faith Not Necessary to Win Interest Penalty Against Texas Insurers

A Houston plaintiff’s attorney defeated State Farm Lloyd’s for the fourth time on the same issue, this time coming away with a federal appellate court ruling that policyholders don’t have to prove that their insurer acted in bad faith in …

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3 Alabama Counties Receive Federal Disaster Declaration for Sally Damage

President Donald Trump on Sunday declared a major disaster in three Alabama counties battered by Hurricane Sally. Storm surge and torrential rains swamped Mobile and Baldwin counties on either side of Mobile Bay when slow-moving Sally made landfall Wednesday on …

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Frequent Wildfires Decimating Forests Becomes Concern Worldwide

Wildfires among ponderosa pines and Douglas firs of the U.S. West have long been part of nature’s cycle of renewal, as much as the changing of the seasons. But as climate change makes the region more arid, wildfires have grown …

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International Conference to Examine Abusive Behavior in Gymnastics

The international gymnastics federation will hold a conference next month to discuss misconduct and abuse in elite programs and develop new rules of conduct, the body said Friday. Gymnasts from countries including Britain, the Netherlands and Australia have come forward …

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Pubs, Eateries Face Restrictions As England Faces Virus Resurgence

All pubs, bars, restaurants and other hospitality venues across the whole of England must start closing at 10 p.m. from Thursday as Prime Minister Boris Johnson tackles a second wave of COVID-19 infections. Johnson, who will address both parliament and …

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Burnham Benefits in California Names Martin Chief Growth Officer

Irvine, Calif.-based Burnham Benefits Insurance Services Inc. has named Chris Martin chief growth officer. Martin has 30 years of experience in the healthcare and insurance industry. He was previously chief business development officer at Crossover Health Burnham Benefits is a …

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Florida’s Citizens Board of Governors: Beruff In, State Rep Diaz Out

Florida’s Citizens Property Insurance Corp., the state-run insurer of last resort, announced two recent changes to its board of governors. Joining the board in August was Carlos Beruff, a Manatee County businessman. Beruff was appointed by Senate President Bill Galvano, …

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Hurricane Sally Adds to Mounting Losses in Historic Gulf Coast Storm Season

Hundreds of thousands of people were without power Friday along the Alabama coast and the Florida Panhandle in the aftermath of Hurricane Sally as officials assessed millions of dollars in damage that included a broken bridge in Pensacola and ships …

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9 More Indicted in Louisiana Truck/Auto Staged Accident Schemes

With the addition of nine new indictments, 28 people now have been charged in a federal probe into the staging of automobile accidents in Louisiana, according to U.S. Attorney Peter G. Strasser. The nine defendants were charged in a seven-count …

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Lockton Partners with Michigan Minority Enterprise Brokerage, Birwood Services Group

Lockton has formed a strategic alliance with Birwood Services Group, a Detroit-based certified minority business enterprise (MBE) insurance brokerage. Lockton’s alliance with Birwood is part of the company’s strategy to fill a void in the insurance marketplace by building a …

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AmRisc Wholesale in Texas Is Now Waypoint Wholesale

AmRisc Group, a Houston, Texas-based managing general underwriter for catastrophe and special property insurance, has rebranded its AmRisc Wholesale division to Waypoint Wholesale. In addition to the new brand, there is a new logo — a compass rose with the …

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Well Repairs Off Texas Coast Halted Due to Tropical Storm Beta

Repairs to a leaking gas well just off the Texas coast have been halted because of Tropical Storm Beta, according to the city of Corpus Christi. “Due to deteriorating weather conditions, offshore repairs are temporarily on hold on the Magellan …

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Kansas Supreme Court Weighs Guidelines for Compensating Injured Workers

The Kansas Supreme Court has waded into the fray over obscure medical guidelines that will determine how much money workers injured on the job can collect. Justices on Sept. 17 heard legal arguments on Zoom over which edition of the …

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Fire on Indianapolis Lot Damages, Destroys About 20 Trucks

A fire that damaged or destroyed about 20 trucks on an Indianapolis lot is being investigated as arson. The blaze was reported about 3:30 a.m. on Sept. 17 at M&K Truck Center. Fire officials said smoke from the fire was …

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Slow-Moving Storm Beta Set to Drench Texas, Louisiana Coasts

Beta, a slow-moving tropical storm, will bring flooding rains to Texas and Louisiana as well as raking offshore energy fields with high winds, but may not reach hurricane strength. Beta’s winds will likely hold at 50 miles (80 km) per …

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California Governor Signs Workers’ Comp Law Protecting Workers from Virus

California companies must warn their workers of any potential exposure to the coronavirus and must pay their employees workers compensation benefits if they get sick with the disease under two laws that Gov. Gavin Newsom signed last week. Newsom, a …

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Utah’s Wildfire Costs Soar with Human-Caused Blazes

Utah’s wildfire season has broken records for the number of human-caused fires and the costs to taxpayers. During a presentation of the Utah State Legislature’s powerful Executive Appropriations Committee, the Utah Division of Forestry, Fire & State Lands said it …

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Land Unstable After Landslide Blocks River, Causes Emergency in Maine City

A state of emergency remained in effect Thursday in the city of Westbrook, Maine, where workers have been assessing landslides that blocked the Presumpscot River. Westbrook Fire Chief Andrew Turcotte said Thursday that the immediate threat of flooding subsided, but …

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Connecticut Insurance Department Names Liu as Director of Captive Insurance Division

Connecticut Insurance Department Commissioner Andrew N. Mais has named Fenhua Liu as the new director of the department’s Captive Insurance Division. Liu has more than 25 years of global experience in insurance and risk management that will serve the department …

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Arthur J. Gallagher & Co. Acquires The Merriam Agency

Arthur J. Gallagher & Co. has acquired Charles W. Merriam & Son Inc., d/b/a The Merriam Agency. Terms of the transaction were not disclosed. Founded in 1895, The Merriam Agency is a full-service insurance agency with offices in upstate New …

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Zurich Insurance Supports Reforestation in Brazil’s Atlantic Forest With 1 Million Trees

Zurich Insurance Group said it will sponsor a reforestation project in Brazil to convert barren farmland back into native forest that is rich in plant and animal life. The eight-year project will help to restore Brazil’s Atlantic Forest, the “other” …

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Fed Leader Says ‘Pernicious’ Effects of Redlining Against Blacks Still Persist

The “pernicious and persistent” impact of long-outlawed policies like “redlining” Blacks out of white neighborhoods continues to influence the ability of minority families to amass wealth, and requires a deeper look at how those longstanding problems might be addressed, Atlanta …

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FCA to Insurer CEOs: Don’t Delay in Paying Valid COVID Business Interruption Claims

In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority (FCA) is advising insurers that they must pay all valid claims “in full at the earliest possible date to support …

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The Villages of Florida Adds 3 from State Farm to Personal Lines Team

The Villages Insurance Partners has added 3 former State Farm employees to its Personal Lines Insurance team. Specializing in home, auto and golf car insurance, Chelsea Allen, Julia Skillman and Lacey Maher collectively bring over 10 years’ experience in the …

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How Insurance Industry Might Respond if a Pandemic Is an Act of Terror

Imagine a scenario where COVID-19 was manufactured in a lab and was released as an act of terror. Tracey Gibbons, senior vice present, Underwriting, at Third Point Re, considers this possibility during a presentation for Carrier Management’s new series of …

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Startups Developing Technologies to Clean Air in Workplaces of Coronavirus

Smithfield Foods Inc. thought it was doing great. In the first quarter of this year, the pork giant’s earnings were up 190% over the same period in 2019. Then the pandemic hit, and the close quarters of meatpacking plants made …

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Facebook Tells Irish Court That It Needs Data Transfer Mechanism to Operate

Facebook has told Ireland’s High Court it cannot see how its services could operate in the European Union if regulators freeze its data transfer mechanism, the Sunday Business Post reported, citing court documents seen by the paper. The U.S. social …

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Carpenters Restoring Notre Dame Face Challenge of Using Original Materials, Design

With precision and boundless energy, a team of carpenters used medieval techniques to raise up — by hand — a three-ton oak truss Saturday in front of Notre Dame Cathedral, a replica of the wooden structures that were consumed in …

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USI Affinity, Crum & Forster to Provide Cyber Coverage to American Bar Assoc. Law Firms

USI Affinity and the American Bar Association (ABA) have partnered with Crum & Forster to offer a cyber liability insurance program for law firms nationwide. As the broker for the ABA Insurance Program, which provides insurance and financial products for …

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MetLife Looks to Sell P&C Auto and Home Insurance Business: KBW Analysts

MetLife is pursuing a sale of its property/casualty auto and home insurance business, according to a report by analysts following the company Keefe, Bruyette & Woods (KBW) analysts, Ryan Krueger and Meyer Shields, said the insurer is looking at a …

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Next Funding Round for Next Insurance May Double Insurtech’s Valuation to $2.25 Billion

Next Insurance is in talks to raise new capital in a round that values the insurance technology startup at about $2.25 billion, according to people familiar with the matter. Alphabet Inc.’s CapitalG is in talks to lead the roughly $250 …

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