Coronavirus Relief Loans Will Be Available for Small Businesses Friday

The United States’ new $350 billion small-business coronavirus rescue loan program could see millions of applications when it launches on Friday, senior Trump administration officials said on Tuesday. Officials from the U.S. Treasury and Small Business Administration, which are jointly …

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Insurance Office of America Adds Carroll And Ballew in Nevada

Insurance Office of America has added Paul Carroll and Jeri Ballew to its employee benefits services division in Las Vegas, Nev. Carroll founded The Westek Group, which specializes in the design, implementation, and administration of employee benefit plans, where he …

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Chemours Claims Against DuPont Over Environmental Liabilities Left to Arbitration

A Delaware judge has granted the DuPont Co.’s request to dismiss a lawsuit alleging that it massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours. Vice Chancellor Sam Glasscock III ruled Monday that he has no jurisdiction …

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National Weather Service Confirms EF-2 Tornado Struck Kentucky

A tornado hit Henderson County over the weekend, damaging homes and downing trees and electrical poles, but no injuries were reported, according to The Gleaner. On Sunday, the National Weather Service office in Paducah confirmed that a tornado hit Henderson …

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Marriott Reports Data Breach Affecting 5.2 Million Hotel Guests

Marriott International Inc. said on Tuesday information of about 5.2 million hotel guests was breached, the second such incident for the hotel operator in less than two years. It said the breached information, including contact details, loyalty account information and …

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Ohio Insurance Department Extends Licensing, Continuing Education Expiration Dates

The Ohio Department of Insurance announced the extension of license renewal dates during the state of emergency declared by Gov. Mike DeWine in response to the COVID-19 pandemic. The department said if a license expires during the state of emergency, …

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Texas Insurance Regulators Expediting Review of COVID-19 Coverage Filings

The Texas Department of Insurance (TDI) said it is expediting approvals for property/casualty filings that provide additional coverage or relief to policyholders during the COVID-19 outbreak. Recent filings related to COVID-19 include: Some auto insurers filed to remove delivery exclusions …

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North Dakota Insurance Commissioner Issues Guidelines in Response to COVID-19 Pandemic

North Dakota Insurance Commissioner Jon Godfread has issued a number of bulletins offering guidance to the insurance industry in response to executive orders made by Gov. Doug Burgum, and in the interest of protecting North Dakotans during the COVID-19 (coronavirus) …

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P/C Insurance Industry Backs New Government Fund to Help Businesses, Workers Hurt by Coronavirus Shutdowns

The property/casualty insurance industry has joined a broad business coalition in supporting and crafting a new federal relief fund for businesses and workers affected by the quarantine and stay-at-home measures necessitated by the coronavirus crisis. The new relief vehicle, the …

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New Hampshire Fire Destroys Several Apartment Buildings, Displaces 12 Families

A fire in New Hampshire destroyed several apartment buildings Friday and displaced 12 families. Manchester fire officials say that two multi-level apartment buildings were complete losses, WMUR-TV reported. Several surrounding buildings and several cars were damaged as well. The fire …

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Coronavirus Pandemic Reveals the Science of Risk That Shapes Our Lives

Hours after the results of a risk model reached the public, U.K. Prime Minister Boris Johnson and U.S. President Donald Trump asked nearly 400 million people to upend their lives. A group of epidemiologists at Imperial College London published the …

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Experts Count 100-Plus Aftershocks Since Nevada Quake

More than 100 small aftershocks were recorded since a 4.5 magnitude earthquake shook near Carson City on Friday, causing minor damages across the city, experts said. The largest recorded aftershock was a magnitude 3.2 temblor on Saturday, which could be …

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10 Nursing Homes in Colorado Have COVID-19 Outbreaks

The Colorado Department of Health has released the names and locations of nine of the 10 nursing homes and long-term care facilities that are facing outbreaks of COVID-19 in response to a public records request filed by The Denver Post. …

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Lawsuit Alleges Bullet at New Mexico School Harmed Student

The family of a boy is suing a police officer who mistakenly fired his weapon inside a southern New Mexico middle school and nearly hit the student. The family recently filed a lawsuit in U.S. District Court against officer Francisco …

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Maryland’s RCM&D Hires Kahn as Commercial Division Director

RCM&D, an independent risk management, insurance and employee benefits firm, has hired Matthew Kahn as the new Commercial Division director. Kahn will be working alongside current Commercial Division Director Bill Kable to lead the firm’s largest operating division, representing thousands …

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Rumbull Named Head of Willis Re Speciality in North America

Charles Rumball, currently executive vice president of Willis Re’s Specialty Reinsurance Division in Bermuda, is relocating to New York to assume the new role of head of Speciality for North America for Willis Re. Rumball brings considerable experience to his …

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Massachusetts Joins Ohio, N.J. in Proposing COVID-19 Business Interruption Bill

Massachusetts is one of the latest states to propose legislation that would mandate insurers to cover COVID-19 related business interruption claims despite virus exclusions in many policies. This comes as Insurance Journal reported legislators in New Jersey and Ohio have …

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Coronavirus Infections on Rise in Already-Strained Urban Police Departments

When nine police officers showed up to make an arrest near Melrose Avenue in the Bronx last Wednesday, none wore a mask or gloves to protect them from coronavirus. Similar scenes play out all over the city daily: officers making …

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Insurance Claims for February’s Australian ‘East Coast Low’ Estimated at A$794M

Initial insured property claims estimate for the Australian east coast low event, which hit the Australian east coast states of New South Wales and Queensland between Feb. 5-13, 2020, is estimated at A$794 million (US$488.3 million), according to PERILS, the …

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SCOR-Backed Channel Syndicate Taps Coulson from Lancashire as Senior Underwriter

Channel Syndicate, which is backed by reinsurer SCOR, has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance, effective immediately. Coulson started on March 23 and will report to Kade Spears, …

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Legacy Specialist Catalina Holdings Completes Purchase of Asia Capital Reinsurance

Catalina Holdings (Bermuda) Ltd., the legacy re/insurance acquisition specialist, announced it has completed the acquisition of Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-headquartered reinsurance business. Following regulatory approval from the Monetary Authority of Singapore and Bank Negara Malaysia, …

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New Argo Group CEO Rehnberg Aims for Transparency and Straight Shooting

Argo Group had been under fire for months over allegations that its board spent excessively on executive compensation when Kevin Rehnberg became interim CEO in November 2019. Three months later, Rehnberg was named as its full-time leader. Less than a …

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QBE Withdraws 2020 Financial Targets on COVID-19 Related Economic Uncertainty

QBE released its 2019 full year results on Feb. 17, 2020, which included an outlook statement that included combined operating ratio and net investment return targets for the 12 months ended Dec. 31, 2020. However, QBE has decided to withdraw …

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Global M&A Plunges 28% in Q1 as Coronavirus Hits Economies

Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. Deal …

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Judge Won’t Halt Salvage of Capsized Ship on Georgia Coast

A federal judge ruled she will not halt removal of a capsized cargo ship along the Georgia coast while a salvage company that lost the job to a competitor sues the U.S. Coast Guard. The decision by U.S. District Court …

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Sompo GRS Adds Carroll as Deputy Head of Life Sciences Practice in North Carolina

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Michael P. Carroll as senior vice president and deputy head of Life Sciences for Sompo Global Risk Solutions (GRS), reporting to Lisa Davis. …

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Mississippi Gov: Businesses that Remain Open Risk Lawsuits

Mississippi Gov. Tate Reeves is allowing many businesses to remain open amid the coronavirus pandemic, but he repeated Friday that some should voluntarily change the way they operate. The Republican added a new twist by implying a threat from trial …

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High-Flying Zoom Faces Privacy Suit Claiming It Fails to Protect User Data

Zoom Video Communications, which has seen its stock zoom by 115% since January, is being sued by a Sacramento user who claims the service unlawfully discloses users’ personal information. The video service has enjoyed a surge in popularity as people …

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Second Racial Bias Case Against Cable TV Wins Second Look

The U.S. Supreme Court on Monday ordered a lower court to reconsider its decision to let comedian-turned-media executive Byron Allen’s $10 billion lawsuit accusing cable television operator Charter Communications Inc. of discriminating against black-owned channels move forward. The justices sent …

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Oklahoma Lawmakers Call for First Responder Workers’ Comp Coverage for COVID-19

A group of Republican lawmakers from the Oklahoma House of Representatives are asking the Oklahoma Municipal League (OML), Oklahoma Municipal Assurance Group (OMAG), CompSource Oklahoma and self-funded municipalities to cover and provide workers’ compensation benefits to any first responder testing …

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Mississippi Residents Affected by February Floods Eligible for Disaster Aid

Mississippi businesses and residents who were hurt by Pearl River flooding in February are now eligible to receive disaster assistance. Gov. Tate Reeves, in a news release Thursday, said the U.S. Small Business Administration approved his request to make low-interest …

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North Carolina Stay-At-Home Order Takes Effect

North Carolina Gov. Roy Cooper announced Friday that a statewide stay-at-home order will start Monday, saying more movement restrictions are needed to blunt the new coronavirus and prevent hospitals from being overrun by cases. Cooper said the order will take …

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Carrozza Joins Texas Associates Insurors as Risk/Insurance Advisor

Texas Associates Insurors has hired Brad Carrozza as its newest risk and insurance advisor. He is based in Austin. Carrozza’s specialization is focused on quarries, equipment rental operations, utility and pipeline construction, and landscape contractors, particularly tree specialists. As an …

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P/C Insurers Put a Price Tag on Uncovered Coronavirus Business Interruption Losses

The property/casualty industry estimates that business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month — or a quarter to half of the total industry surplus available to pay all …

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Ohio County Reaches $3.5M Settlement in Woman’s Dog Mauling Death

The estate of an Ohio woman fatally mauled by her neighbors’ dogs will receive $3.5 million to settle a lawsuit against a county and its dog warden, a newspaper reported. The lawsuit was filed after Klonda Richey, 57, was killed …

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6 Hurt as Tornado Tears Through Arkansas College Town

A tornado ripped through northeast Arkansas on Saturday, leaving six people hurt after hitting commercial and residential areas in the college town of Jonesboro. The six people reported injured were taken to a local hospital with minor juries, Jonesboro E-911 …

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Severe Weather Spawns Tornadoes, ‘100-Year Flood’ in Midwest

A severe weather system tore through the Midwest over the weekend, bringing damaging high winds, tornadoes and flooding. Authorities say severe weather in Ohio spawned what forecasters are calling a “100-year flood” in Cleveland, Ohio. In Iowa, storms damaged an …

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Reavis Named Chief People Officer at Ohio Insurtech Root

Columbus, Ohio-based Root Inc., the parent company of online insurer Root Insurance, has appointed Annette Reavis as its first chief people officer. Reavis has more than 20 years of human resource and business experience. She previously spent a decade at …

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The Longer Coronavirus Crisis Lasts, the More Uncertain Is P/C Insurance Outlook

North American property/casualty insurers reported improved 2019 operating performance, but near-term performance will likely be more challenging with the onset of coronavirus and the resulting economic impact, according to a report from Fitch Ratings. Fitch’s rating outlook for the U.S. …

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Ohio Bill Would Expand Business Interruption Coverage During COVID-19 Emergency

Two Democratic state representatives in Ohio have filed a bill in the General Assembly that would require insurers that provide business interruption insurance to cover losses that arise from viruses and pandemics, regardless of whether their policies contain exclusions for …

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PG&E to Use California Wildfire Victims Fund to Pay for Past Crimes

Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly Northern California wildfire by taking money away from a fund set up to …

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Connecticut Calls on Auto Insurers to Extend Coverage to Personal Delivery Drivers

Connecticut Insurance Department Commissioner Andrew N. Mais has called on insurers to immediately institute an extension of coverage for personal delivery drivers in light of the disruption caused by the COVID-19 pandemic. “The emergency social distancing and closing of restaurants …

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Fire Damages Popular Presidential Campaign Trail Restaurant in New Hampshire

A fire caused about $80,000 worth of damage on Wednesday to a New Hampshire restaurant that’s a popular campaign trail stop for candidates in the first-in-the-nation presidential primary state. WMUR-TV reports fire crews responded to the Puritan Backroom shortly after …

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New York City Subway Driver Killed in Fire Being Investigated as Crime

A New York City subway driver was killed and several other people were injured early Friday in a fire on a train that is being investigated as a crime, officials said. Fires were reported at three other stations nearby at …

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Insured Losses from Europe’s Storm Victoria (aka Dennis) Estimated at €286M: PERILS

The initial insured property loss estimate for Europe’s extratropical cyclone “Victoria,” also known as “Dennis,” is an estimated €286 million (US$318.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The event affected the British …

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Allianz Australia Taps Laybutt from Deloitte as Chief Risk Officer, Succeeding Callahan

Allianz Australia announced the appointment of Tara Laybutt as Allianz Australia’s chief risk officer, effective May 11, 2020. Laybutt has extensive experience in guiding the risk functions of large, financial services companies through complex and challenging periods, the company said …

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South Korean Insurers Hit Hard by Evaporating Investment Returns

Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month. Hanwha Life Insurance Co. has …

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Sirius International Launches Formal Process to Find a Buyer

Sirius International Insurance Group, Ltd. (Sirius Group) announced it has launched a formal process to sell the company after a strategic review. The company said it has approved the launch of a sales process, after reviewing multiple expressions of interest …

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How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London

Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tools of …

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GM Settles Faulty Ignition Switch Cases for $120 Million

General Motors Co. has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths. The preliminary settlement was filed on Friday night with the …

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From Free Coverage to Medical Masks. P/C Insurers Deliver Some Good.

While the property/casualty insurance industry is fighting attempts to force it to pay for the huge business income losses that it says most policies were never intended to cover, some individual insurers are finding small ways to assist the businesses …

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World Insurance Associates Acquires Texas’ TAB Insurance Agency

World Insurance Associates LLC (WIA), based in Tinton Falls, New Jersey, has acquired TAB Insurance Agency LLC of Frisco, Texas. Terms of the transaction were not disclosed. TAB Insurance Agency a full service, independent insurance agency that offers both personal …

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Florida Declared Federal Disaster Due to Virus

President Donald Trump declared Florida a disaster area Wednesday because of the new coronavirus outbreak, while another of the state’s largest metropolitan areas moved toward a near-shutdown. The president acted a day after Gov. Ron DeSantis requested the declaration, becoming …

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Ferguson Settles Lawsuit Over Court Fees Deemed Discriminatory for $1.7M

The city of Ferguson, Missouri, has agreed to a $1.7 million settlement of a class-action lawsuit that accused its municipal court of charging illegal court fees, attorneys involved in the case said. A judge on March 24 approved a preliminary …

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Ohio Workers’ Comp Insurance Provider OKs Deferred Premium Payments

The Ohio Bureau of Workers’ Compensation (BWC), the exclusive provider of workers’ compensation insurance in the state, is allowing insurance premium installment payments due for March, April, and May to be deferred until June 1. The BWC serves 249,000 public …

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AM Best: Outlooks Negative for Wisconsin’s McMillan Warner Mutual Insurance

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of McMillan Warner Mutual Insurance Co. (MWM) in Marshfield, Wisconsin The Credit Ratings …

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Tech Issues Hampered Information on Tsunami Watch for Hawaii

Technical issues made it difficult to get information about a tsunami watch for Hawaii and its subsequent cancellation, the National Weather Service said Wednesday. The brief tsunami watch was canceled Tuesday after a 7.5 magnitude earthquake struck in the northern …

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PG&E’s Falling Stock Price Worries California Wildfire Victims Eyeing Deal

The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric’s $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A …

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California Commissioner Wants Data on Business Interruption Coverage

California Insurance Commissioner Ricardo Lara has directed insurance companies to submit data to the California Department of Insurance regarding coverage of commercial business interruption related to COVID-19. It is hoped the data will help state policymakers understand the scope of …

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Chubb Investigating Possible Cyber Attack; Says Network Unaffected

Chubb confirmed that is looking into a possible hack attack, though a spokesperson said the insurance giant’s network appears at this point to be unaffected. “We are currently investigating a computer security incident that may involve unauthorized access to data …

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Owner of WWII-Era Bomber Prohibited from Carrying Passengers After Connecticut Crash

The Federal Aviation Administration revoked a foundation’s permission to carry passengers aboard its World War II-era planes after a deadly crash in October. The agency cited safety concerns in its decision to prohibit the Collings Foundation from chartering its historic …

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Judge Declines to Dismiss Class-Action Suit Against New Hampshire Gun Manufacturer

A judge has denied a motion to dismiss a class-action lawsuit against New Hampshire based gun manufacturer SIG Sauer. Judge Joseph Laplante found Monday that Derick Ortiz, who filed the lawsuit in September, had adequately proved his standing for litigation, …

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Aetna Waiving Patient Co-Pays for Coronavirus Hospital Stays

One of the nation’s biggest health insurers is waiving patient payments for hospital stays tied to the coronavirus. CVS Health’s insurer Aetna said Wednesday that many of its customers will not have to make co-payments or other forms of cost …

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Employers Deploy Spy Software to Monitor At-Home Workers

The email came from the boss. We’re watching you, it told Axos Financial Inc. employees working from home. We’re capturing your keystrokes. We’re logging the websites you visit. Every 10 minutes or so, we’re taking a screen shot. So get …

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Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal

Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too early for the market to assess the …

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Blenheim Gets Initial Approval from Lloyd’s to Launch New Managing Agency

Blenheim Underwriting announced it has been granted ‘approval in principle’ by the Lloyd’s board to establish a new managing agency. Blenheim said it can now submit an application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) …

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China’s Factories Hit with 2nd Blow from Coronavirus as External Demand Drops

Since last week, emails from foreign clients have been flooding into export manager Grace Gao’s in-box, asking to delay orders already made, putting goods ready to be shipped on hold until further notice, or asking for payment grace periods of …

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Former Lloyd’s CEO Beale to Become Chair of South Africa’s Mediclinic

Mediclinic International Plc has appointed former chief executive of Lloyd’s of London, Inga Beale, as an independent non-executive director and its next chairwoman, the company said on Friday. Beale will succeed Chairman Edwin Hertzog after his retirement on July 22, …

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COVID-19 Quarantined Doctors Turn to Telemedicine to Keep Seeing Patients

Marie-Pascale Schuller started feeling sick last week. The 57-year-old doctor specializes in respiratory illnesses, and she had a strong suspicion as to what her fever, cough and aches meant. She wanted to keep seeing patients without the risk of exposing …

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Florida Insurers Omega, Tower Hill Select to Merge into Tower Hill Signature

A proposed merger of Florida-based insurers Omega Insurance Co. and Tower Hill Select into Tower Hill Signature Insurance Co. has been approved by Florida regulators. The Florida Office of Insurance Regulation approved the merger March 25 following a complete review, …

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West Virginia Nursing Home Now ‘Ground Zero’ for Virus

A West Virginia nursing home with at least 20 coronavirus cases has become “ground zero” for the state’s growing virus caseload, officials said Wednesday. Carl Shrader, medical director for the Sundale nursing home in Morgantown, said 16 residents and four …

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Just in California Announces Telematics Product for Low-Income Drivers

Los Angeles, Calif.-based Just Auto Insurance Inc. has launched a telematics-based auto insurance for lower income consumers. Just’s pricing model is based on an in-house telematics model, which uses data from more than 12,000 drivers. The firm says it will …

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Home Health Providers at ‘Breaking Point’ as Coronavirus Ups Demand, Saps Supplies

Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus — and how to ensure that the providers themselves neither catch nor spread it. A Texas-based company …

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Gig Drivers Ruled Employees Eligible for Unemployment Benefits in New York

Drivers for the online food delivery service Postmates Inc. are employees who are eligible for state unemployment insurance, New York’s top court has ruled. The ruling upsets the “gig” business model of courier service Postmates and other platforms like transportation …

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In Suit, Nurse Says Chicago Hospital Fired Her for Warning About Masks

A former nurse is suing a Chicago hospital for allegedly firing her in retaliation for warning colleagues that masks provided by the hospital to treat COVID-19 patients would not sufficiently protect them from contracting the disease. Lauri Mazurkiewicz contends in …

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Favorable Flood Forecast Offers Relief to Parts of Minnesota

While leaders in Fargo and Moorhead, Minnesota, have been taking steps to limit the coronavirus, it appears they won’t have to deal with a significant flood on top of the pandemic. Fargo Mayor Tim Mahoney tells KFGO radio that a …

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Man Dies in Accident at Tyson Meats Plant in Kansas

A 30-year-old Garden City man died at a Tyson Fresh Meats plant in western Kansas, authorities said. Kendrick Gregory was doing maintenance work on an assembly line early Monday at the plant in Garden City when he was injured, the …

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Texas Surplus Lines Stamping Office Postpones Launch of New Online Filing System

The release of the Surplus Lines Stamping of Office of Texas’ (SLTX’s) new online filing system, SMART, will be postponed due to the global coronavirus (COVID-19) pandemic. SLTX said the system was originally scheduled for release in March but will …

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Oklahoma Commissioner: Allstate Eases Personal Auto Terms for Delivery Drivers

Oklahoma’s insurance commissioner says Allstate Insurance Co. is voluntarily easing certain policy restrictions to aid delivery drivers using their personal vehicles for delivery of food and medicine during the COVID-19 health emergency. The Oklahoma Insurance Department said Allstate has notified …

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Hamilton Named Partner at Hotchkiss Insurance in Texas

Texas-based Hotchkiss Insurance, a full-service independent agency, has named Chris Hamilton as its newest partner. Hamilton has extensive experience as an employee benefits and risk management consultant, with previous roles in corporate finance and banking. He has been with Hotchkiss …

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U.S. Oil Industry Seeks Easing of Environmental Regulations During Coronavirus Pandemic

The Environmental Protection Agency said this week that it’s reviewing a request from the oil and gas industry to ease enforcement of hazardous air and water pollution and other regulatory issues during the coronavirus pandemic. The proposal is drawing objections …

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Settlement Reached in Lawsuit Involving Wyoming Coal Workers

Attorneys representing Wyoming coal miners reached a settlement in a class action lawsuit against a bankrupt coal operator. The settlement with Blackjewel LLC of West Virginia requires final approval by a federal judge, The Casper Star-Tribune reports. The lawsuit alleged …

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Boeing Suspending Production in Seattle over Virus

Boeing will suspend operations at its Seattle area facilities due to the spread of coronavirus, idling tens of thousands of aerospace workers, the company said Monday. At least 110 people have died from COVID-19 in Washington state, mostly in the …

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U.S. Lawsuit Wants China to Pay for Business Income Losses from Coronavirus

An attorney who represented victims of the Las Vegas shooting massacre has filed a federal lawsuit against China’s government over the new coronavirus, saying that officials hid information about the outbreak and that U.S. small businesses should receive billions of …

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Cyber Insurance Sales to U.S. Businesses Picking Up: Marsh

The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing Trends Report found that 42 percent of …

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Pandemic Hampers World’s Weather Forecasts with Halting of Commercial Flights

The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial eye in the sky has weakened just as spring flood …

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Massachusetts Contractor to Pay for Clean-Up Costs Following Chemical Explosion

A Sutton, Mass.-based contractor has agreed to pay $120,000 to reimburse the state for the cost of responding to a 2017 explosion and fire of a backyard shed at a Shrewsbury residential property, Massachusetts Attorney General Maura Healey announced. The …

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Willis Re Appoints Melanson as SVP, Health Practice Leader in Massachusetts

Willis Re, the reinsurance business of Willis Towers Watson, a global advisory, broking and solutions company, has appointed Dan Melanson as senior vice president and Health Practice leader. He is based in Boston, Mass. In this role, Melanson will serve …

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Freeborn & Peters LLP Hires Gould in Virginia

Freeborn & Peters LLP has hired Beth Gould as an associate in the Litigation Practice Group and a member of the Insurance/Reinsurance Industry team. Prior to joining the firm, Gould was an associate at Kalbaugh, Pfund & Messersmith, P.C. She …

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Insurer Ageas Uses AI to Create End-to-End Car Damage Assessments in UK

Ageas is using artificial intelligence (AI) to create end-to-end assessments and estimates of vehicle damage, which it says is a first for a UK insurance company. Ageas is using an AI solution, developed by technology company Tractable, to support some …

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Australia Firms Begin to Use Legal Clause to Terminate M&A Deals Amid Virus

Several Australian companies are reviewing or even terminating takeover deals by using a legal escape route because of the devastating impact of the coronavirus, a template that some lawyers expect to be replicated in other countries. Three listed companies this …

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Lloyd’s, in ‘Strong Position’ to Respond to COVID-19, Reports Return to 2019 Profit

While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also confirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s posted pre-tax profit of £2.5 billion (US$3 billion) …

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Florida Regulator Outlines How Industry Can Help Insureds During COVID-19 Response

The Florida Office of Insurance Regulation has issued an additional memorandum related to the coronavirus outbreak to all the insurers and entities it regulates in an effort to provide general guidance on the treatment of policyholders, according to a statement …

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Suspected Tornado Causes Damage Along Mississippi-Alabama Line

A suspected tornado heavily damaged a store and other structures Tuesday in northern Mississippi and Alabama as a severe storm system crossed the Deep South, authorities said. Police Chief Mike Kemp in Tishomingo, Mississippi, told broadcast outlet WTVA that minor …

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How Policy Silence on Pandemics May Bedevil Insurers on Coronavirus Claims

Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an insurtech that specializes in analyzing insurance policy language suggested recently, explaining that without specific words addressing pandemic risks, insurers might face claims down the road. In …

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400 Cybersecurity Pros Volunteer to Fight Hacking Tied to Coronavirus

An international group of nearly 400 volunteers with expertise in cybersecurity formed on Wednesday to fight hacking related to the novel coronavirus. Called the COVID-19 CTI League, for cyber threat intelligence, the group spans more than 40 countries and includes …

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Pinnacol Assurance Distributing $70M in Dividends to Colorado Companies

Pinnacol Assurance announced it is distributing general dividend checks to its customers totaling $70 million. This is the fifth straight year the state’s largest workers’ compensation provider has distributed dividends. Most (95%) of Pinnacol’s policyholders are eligible to receive a …

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Louisiana Governor Seeks Federal Disaster Declaration for State

Louisiana’s governor has asked the White House to declare a major disaster in his state to free up more direct federal aid to cope with the surging coronavirus outbreak, warning that the New Orleans area could run out of hospital …

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NCCI Moves Workers’ Compensation Issues Symposium Online for May 12

The workers’ compensation rating and information organization National Council on Compensation Insurance (NCCI) said it is converting its Annual Issues Symposium from a live to a virtual event due to the coronavirus pandemic. NCCI said it will hold its AIS …

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Overturned Tanker Yields Large Oil Spill Near California Dam, Cleanup Needed

A tanker truck overturned down an embankment, spilling up to 6,000 gallons of crude oil into a river that flows into a dam and reservoir near the city of Santa Maria, authorities said. The driver was no injured and the …

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Ex-Library Director in Idaho Files Lawsuit Alleging Sexual Harassment

A former library director has sued Lewiston, Idaho, over her termination two years ago, alleging sexual harassment, a hostile work environment and other charges dating back to when she was hired in 2012. The Library Board of Trustees put Alexa …

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Utah Residents Reporting Damage Days After M5.7 Quake

Days after a magnitude 5.7 earthquake shook parts of Utah, residents continue to report damage. The Greater Salt Lake Municipal Services District asked those within its boundaries to submit online notices of home or business damage from the March 18 …

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As Coronavirus Threatens Gig Workers, Uber Presses for New Worker Classification

As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours. But as the coronavirus brings large parts of the country to a halt, drivers and companies are facing the downside of …

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Some Details of the $2 Trillion U.S. Senate Coronavirus Rescue Bill

U.S. senators will vote on Wednesday on a $2 trillion bipartisan package of legislation to alleviate the devastating economic impact of the coronavirus pandemic, hoping it will become law quickly so they can get out of Washington. Here are major …

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AM Best Warns Losses Could Be Big for P/C Insurers Writing Event Cancellation Business

Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant, according to a new AM Best commentary. Losses on …

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Kirkland & Ellis Hires Hassouri in New York as Partner in Corporate Practice Group

Kirkland & Ellis LLP has hired Parimah Hassouri to its New York office as a partner in the Corporate Practice Group. Her appointment follows the recent addition of Rajab Abbassi as a partner in New York and bolsters Kirkland’s ability …

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Maine’s Rios Agency Joins Satellite Agency Network Group

Rios Agency recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. Rios Agency provides all lines of property, casualty, life and health insurance coverages to clients in Falmouth and Portland, Maine. Owner …

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Iowa Battery Manufacturer Cited for Safety Violations, Fined $42K

A battery manufacturer in eastern Iowa has been fined $42,000 for workplace safety violations, authorities said. The Iowa Occupational Safety and Health Administration said Exide Technologies, of Manchester, was cited for five different violations and originally faced a penalty of …

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How East Insurance Regulators Are Responding to the Coronavirus Pandemic

As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond. “There is almost no aspect of the insurance business that would …

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Zurich Expands Marine Insurance Platform into Additional Countries, Regions

Zurich Insurance Group is expanding the roll-out of a new marine insurance platform for small and medium cargo, following its successful introduction in selected markets around the world. The Zurich Swift Insurance Platform provides intuitive, web-based access to insurance that …

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Dudley, CEO of Aon’s UK Global Broking Centre, Named Chair of LIIBA

Richard Dudley, CEO of Aon’s UK Global Broking Centre, will become the new chair of the London & International Insurance Brokers’ Association, according to LIIBA’s board. He succeeds Roy White of Marsh, who served a two-year term. White will remain …

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UK, U.S. Banks and Regulators Warn of Wave of Coronavirus Scams

UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes. With British households …

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Guy Carpenter Announces Partnership with RiskGenius to Expand Silent Cyber Analysis

Guy Carpenter & Co., LLC, the reinsurance brokerage business of Marsh & McLennan Cos., announced it has entered into a strategic relationship with RiskGenius, to expand the detection and qualitative analysis of silent cyber exposure across various lines of business. …

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India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses

Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased work from …

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Olympics Postponement Likely to Cost Insurers Less than Cancellation

Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed …

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Georgia Adjuster Accused of Stealing $215K from Business Affected by Hurricane Michael

An insurance adjuster was charged with stealing more than $215,000 in insurance money from a Georgia business damaged by Hurricane Michael, authorities said. Steven Eric Chastain is accused of stealing insurance checks from a business in Albany, Georgia, and was …

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What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus Impact

As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A. Sampson, president and CEO of the American …

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Idaho Insurance Producer Ordered to Cease and Desist for Misusing Premiums

The Director of the Idaho Department of Insurance issued an order to cease and desist against Charlotte Jane Sheppard of Lincoln County after it was reported that Sheppard violated Idaho Code § 41-1016(1)(d) and (h) on numerous occasions. The department …

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ONI Risk Partners Adds Wood as Commercial Insurance Risk Advisor in Kentucky

ONI Risk Partners, an EPIC Company, has hired Brian Woods as a Commercial Insurance Risk Advisor in Kentucky. Wood will consult with mid-to-large commercial insurance clients in the Louisville area to identify, assess, and manage the overall impact and cost …

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Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL

A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among the defendants named in …

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Michigan’s Top Court: Jury Should Decide Liability in Case of Woman Hurt at Party

It might be the most talked-about Christmas party at the Michigan Supreme Court. The justices on Friday let stand an appeals court decision and said a jury should decide whether an Oakland County couple is liable for a woman’s injuries …

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The Hilb Group Acquires Ohio’s Healthcare Liability Consultants Agency

The Hilb Group LLC (THG) has acquired Healthcare Liability Consultants Agency Inc., and hired owner and medical malpractice insurance specialist, Julie Paton, as a producer. Paton is based in Cleveland, Ohio. The transaction became effective March 1, 2020. Paton will …

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Wisconsin Commissioner: Insurers Must Offer Free Coverage for Restaurant Deliveries

Wisconsin’s insurance commissioner has directed insurers to provide insurance coverage for delivery drivers for restaurants during COVID-19 Public Health Emergency, even if those drivers/restaurants previously did not have coverage for such activities. The extra coverage must be provided at no …

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Texas Modifies Licensing, CE Requirements for Insurance Agents, Adjusters

The Texas Department of Insurance (TDI) said certain licensing requirements for insurance agents and adjusters will be waived during the state’s response to the COVID-19 health emergency. TDI said the measures will ensure agent and adjuster services remain available. New …

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Ransomware Attacks, Sums Demanded Soared in 2019: Beazley

The number of ransomware attack notifications against insurance clients increased by 131 percent in 2019 and the funds demanded by the attackers surged along with the counts. A new report from specialty insurer Beazley’s Breach Response (BBR) Services, cybercriminals have …

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M4.7 Earthquake Confirmed off Coast of Northern California

A magnitude 4.7 earthquake struck Sunday morning off the coast of Northern California, the U.S. Geological Survey confirmed. The quake hit at 8:27 a.m. about 50 miles west of Ferndale, a coastal town of 1,300 people. A police dispatcher said …

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PG&E Will Plead Guilty to Involuntary Manslaughter in California Wildfire

Pacific Gas & Electric said it will plead guilty to 84 counts of involuntary manslaughter in connection with the 2018 fire in Northern California that killed 84 people and decimated three towns. The utility said in a statement will also …

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Beazley’s Bernacki Named President of AmWINS Special Risk Underwriters

Global specialty insurance wholesaler AmWINS Group announced that Mark R. Bernacki will join the firm as president of AmWINS Special Risk Underwriters (SRU) and executive vice president of AmWINS Group, effective March 30, 2020. In his role, Bernacki will drive …

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Insured Losses for Europe’s Storm Sabine (aka Ciara) Estimated at €1.55B: PERILS

The initial loss estimate for extratropical cyclone Sabine”, also known as “Ciara” and “Elsa,” is €1.55 billion (US$1.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The event hit the British Isles, and Western …

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Tokyo Games Delayed to 2021 in 1st Postponement in Olympics’ 124-Year History

Japan and the Olympics movement decided on Tuesday to delay this year’s Tokyo Games into 2021 as the coronavirus crisis obliterated the world’s last major imminent sporting event. It was the first time in the Olympics‘ 124-year history that they …

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Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?

On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or curtailment of a restaurant due to …

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Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact

Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and the related impacts on the credit quality of …

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Liability Insurers Report Rise in Claims Against Architects and Engineers

Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & Gough said in a report. The brokerage, based in McLean, Va., …

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World Insurance Associates Acquires Virginia Insurance Partners

World Insurance Associates LLC (WIA) has acquired Virginia Insurance Partners (VIP). The transaction was effective February 1, 2020, and terms of the deal were not disclosed. VIP is an independent insurance agency that offers commercial, personal, farm, life and benefits …

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Peachtree Special Risk Brokers Acquires Massachusetts’ RLA Insurance Intermediaries

Peachtree Special Risk Brokers LLC, a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of RLA Insurance Intermediaries. RLA Insurance Intermediaries was founded in 2010 by Jeff Hays and Chris Skaletsky as a wholesale insurance …

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A.M. Best Downgrades Rhode Island’s Providence Mutual

The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer’s financial strength rating to “B++” (Good) from “A-” (Excellent) comes even as the insurer …

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Swiss Re Names da Victoria Lobo as Market Executive for Western, Southern Europe

Swiss Re has announced that Nikhil da Victoria Lobo, currently managing director and head of Americas for its Public Sector Solutions (PSS) Division, has been appointed market executive for Western and Southern Europe (WSE) for reinsurance, effective July 1, 2020. …

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BMS Buys Spanish Specialist Insurance Broker Jurado Mata

BMS Group, the independent specialist re/insurance broker, announced its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker. Financial details of the transaction were not disclosed. Founded in 1990, Jurado Mata has provided a range …

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UK Travel Insurers Expect to Pay Record Coronavirus Claims of US$319M

UK travel insurers expect to pay record claims of at least £275 million (US$319 million) due to the coronavirus pandemic, according to first estimates from the Association of British Insurers (ABI). The vast majority of payouts will be for cancellations, …

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West Virginia Couple Get 3 Years in Renter’s Insurance Fraud Case

A West Virginia couple were sentenced to more than three years each after pleading guilty in a scheme to fraudulently collect renter’s insurance benefits. Jimmie Thompson, 27, and Thanikwa Thompson, 25, of Martinsburg, were sentenced to 37 months each on …

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Georgia Resort Violated Labor Laws, Underpaid Workers by $46K

Newly released documents show a coastal Georgia resort violated labor laws more than 500 times and collectively underpaid employees by more than $46,000. The Brunswick News obtained the documents relating to violations at the Sea Island Resort earlier this month …

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Former Mississippi Attorney General Jim Hood Joins Policyholder Defense Practice

Former Mississippi Attorney General Jim Hood has Weisbrod Matteis & Copley PLLC, a litigation firm with with a focus on representing policyholders affected by natural disasters. He will serve as counsel in the firm’s Jackson, Miss., office. Hood, a Democrat, …

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Consumer Groups Want Auto Premiums to Reflect Coronavirus Curb on Driving

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. …

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Tornado-Bearing Storms Spread Damage Across Parts of Arkansas, Texas

Severe storms, including at least one possible tornado, struck parts of Arkansas on the evening of March 19, damaging homes and causing widespread damage to trees and power lines. Additionally, the National Weather Service has confirmed tornadoes are to blame …

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Howard to Serve as President of Southeastern Carrier Lighthouse

Lighthouse Property Insurance Corp. has hired David Howard as president, pending regulatory approvals. Howard will serve as president for Lighthouse and Lighthouse Excalibur Insurance Co., a wholly owned subsidiary. The news follows Lighthouse’s announcement that it will acquire sister company, …

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Western Supply Chains Begin to Buckle on Expanding Coronavirus Lockdowns

Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy. While China’s draconian …

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Ban on Holding Cellphone While Driving Begins July 1 in Indiana

Drivers will be banned from using handheld cellphones on Indiana roads starting in July under legislation Gov. Eric Holcomb has signed into law to combat distracted driving. Holcomb signed the measure on March 18, making Indiana the 22nd state to …

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Wisconsin High Court Rules Against Farm in Case Over Pay for Time Spent Dressing

Workers can’t negotiate away their right to compensation for time spent donning and removing protective gear, the Wisconsin Supreme Court ruled in a long-running legal battle between a Jefferson County farm and its employees. Nearly 230 current and former workers …

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Coronavirus Outbreak Exposes Flaws in Design of Pandemic Bonds

To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall Street firms that would help …

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California’s State Fund Announces Credit Extensions, Moratorium on Cancellations

California’s State Compensation Insurance Fund announced several steps to support policyholders during the COVID-19 crisis, including a moratorium on policy cancellations and late payment penalties. State Fund also said it will extend credit to any business negatively impacted by COVID-19 …

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French Insurers to Contribute $216M to Solidarity Fund for Businesses

French insurance lobby FFA said on Monday insurers would contribute up to 200 million euros ($216 million) to funds set up by the government to help companies deal with a significant drop in activity due to the coronavirus crisis. French …

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Construction Contractor Getting $184M in Colorado Settlement

The Denver International Airport has settled a dispute for more than $180 million with a contracting company that was fired before completing a terminal renovation project. The airport filed an agreement Friday in a bondholder disclosure system, detailing more than …

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Corrections Officer in Oregon Files $7M Hazing Lawsuit

An Oregon Department of Corrections officer is suing the state, a former coworker and corrections officials for $7 million after he was attacked with a stun gun. The civil rights lawsuit filed last week on behalf of Michael Kilgus accuses …

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Cannabis Home Delivery Surges in California Amid Outbreak

One company rushed to expand its delivery fleet. Another has seen sales triple. The global coronavirus pandemic has left millions of people locked out of bars, restaurants and theaters, but it’s been an unexpected boost for some U.S. pot shops. …

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Officials Confirm Earthquake Caused Minor Damage in Nevada

A 4.5 magnitude earthquake that struck near Carson City, Nev., on Friday night caused minor damages across the city, authorities confirmed. Some damage to items on shelves inside stores was reported and one building shut off its gas as a …

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NSM Insurance Group to Buy UK’s Kingsbridge Group

NSM Insurance Group (NSM), a Pennsylvania-headquartered managing general underwriting agency and program administrator for specialty insurance programs, has entered into a definitive agreement to acquire Kingsbridge Group Ltd., a provider in the UK of specialist insurance for skilled contractors and …

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Treasury Secretary Mnuchin Says Coronavirus Lockdown to Last Until June

The lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Americans are …

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Tesla, Drivers, Regulators All to Blame for Fatal Crash, Says Safety Board

The National Transportation Safety Board says two drivers, Tesla and lax regulation of new partially automated driving systems are to blame for a fatal 2019 crash in Florida involving a Tesla on Autopilot. The NTSB, in a report issued last …

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New Jersey Food Manufacturer Faces $77K in Penalties After Worker Injury

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited D.O. Productions LLC for lockout/tagout violations after unguarded machinery caused severe hand injuries to an employee at the frozen food manufacturer’s Lodi, N.J., facility. The company faces …

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Construction Worker Killed in Fall at Housing Site in New Jersey

A construction worker has died after a fall at a housing site in northern New Jersey, authorities said. The accident occurred around 5:20 p.m. Wednesday in Florham Park. Wander Santos, 47, of Newark, fell about 30 to 35 feet and …

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Pennsylvania Governor Wolf Retrenches Sweeping Order Amid Complaints, Lawsuits

Under fire from business groups and Republican lawmakers and facing lawsuits over a broad shutdown order designed to slow the spreading of the coronavirus, Pennsylvania Governor Tom Wolf’s administration defended its actions as critical to preventing hospitals from being overwhelmed, …

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Donelan Named CEO of Sompo International’s Reinsurance Unit, Succeeding Young

Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that, subject to regulatory approval, Christopher Donelan, currently the deputy CEO of Sompo International (SI) Reinsurance will assume the position of chief executive …

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Fitch Revises Global Re Sector Outlook to Negative; Rating Outlook Stable

Fitch Ratings announced a dimmer “sector outlook” for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch offer two types of outlooks for segments of the insurance and reinsurance markets—sector outlooks and …

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Wedding Insurance Excludes Pandemics, and Couples Find They Have No Cover

Weddings are happy events, now hard to find in the age of the coronavirus. They’re being canceled, which means lost work for florists, dressmakers, organists and bands, but not for Eden Denevan, an enterprising wedding invitation designer now offering this …

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Spring Floods in U.S. Should Be Moderate Compared to Last Year: NOAA

Too often disasters come in threes. But the year of global pandemic and record wildfires in Australia will not also be a year of historic floods in the U.S., forecasters predict. Last year saw record floods in several regions of …

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Resource-Shy FEMA Tackles COVID-19 Response While Also Facing Past Disasters, Spring Flood Season

It wasn’t until Wednesday, five days after President Donald Trump declared a national emergency, that the Federal Emergency Management Agency announced it was “leading the federal coordination” to the Covid-19 pandemic in the U.S. While the disaster-response agency is better …

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Kansas Insurance Dept. Suspends ‘Deemed Approved’ Policy; Delays in Licensing, Filing Approvals LIkely

The Kansas Insurance Department reports that the agency has implemented alternative working arrangements for its staff, and that there will potentially be delays in processing license applications and company filing approvals. The KID also said it has suspended “all regulatory …

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Cruel Paradox: Beating Virus Means U.S. Recession

The coronavirus is dealing a death blow to the longest U.S. economic expansion on record, triggering layoffs and putting intense strain on the nation’s financial system. In a cruel paradox, the very steps that are needed to contain the outbreak …

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European Insurers’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI

Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result of the coronavirus outbreak because pandemic-related claims are excluded from most business interruption policies in the three countries, said Moody’s …

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California Governor Issues ‘Stay Home’ Order

California issued an unprecedented statewide ‘stay at home” order for its 40 million residents as Washington warned Americans to return home or stay abroad indefinitely, as the number of coronavirus deaths in the country hit 200. Governor Gavin Newsom’s directive, …

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Swiss Re, Zurich Insurance in Talks with Swiss Regulator About Coronavirus Impact

Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the matter. The watchdog contacted Swiss Re AG, Zurich Insurance …

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Pressure Builds on Insurers to Be Part of Coronavirus Business Solution

While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty commercial insurers to do more than explain why insurance coverage is …

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$1.2M Sex Discrimination Suit Filed Against Oregon Hospital

A former pharmacist is suing Central Oregon’s largest health care provider for $1.2 million saying the hospital maintained a hostile work environment that included gender discrimination and sexual harassment. Darcy Martin filed the lawsuit against St. Charles Health System in …

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M5.7 Earthquake in Utah Confirmed

With much of normal life at a screeching halt to combat the coronavirus, millions of people in Utah are hunkered down in the safety of their homes. But on Wednesday morning, even that protection felt fragile as an earthquake strong …

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Coronavirus Strikes Post-Brexit Trade Talks with Top Negotiators in Isolation

The coronavirus has struck at the heart of the post-Brexit trade talks between Britain and the European Union, with both sides’ top negotiators now in isolation. David Frost, the UK’s chief negotiator, is isolating himself after showing symptoms of the …

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Virginia’s Kinsale Capital Group Announces Underwriting Promotions

Kinsale Capital Group Inc. has announced four underwriting promotions. Patrick L. Dalton was named senior vice president of Casualty, John R. Bowen Jr. was named vice president of Construction, Jason E. Hoover was named vice president of Allied Health, and …

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Insurers Reject House Members’ Request to Pay for Coronavirus Business Interruptions

A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders. Eighteen House members made their case in a March 18 letter addressed to the leaders …

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Exxon Loses Jurisdiction Fight in Massachusetts Climate Suit

Exxon Mobil Corp. suffered a setback in a climate change case when a federal judge ruled that a consumer protection lawsuit filed by Massachusetts should go back to state court. U.S. District Judge William G. Young in Boston on Tuesday …

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Swedbank Slapped with Record $386M Fine for Money-Laundering Breaches

Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Sweden’s oldest retail bank saw its …

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NY Regs Ask Insurers for Details of Business Interruption Policies in Wake of COVID-19

The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers regarding COVID-19. The instructions were issued on …

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Analysis: How a Recession Affects Return to Work by Injured Workers

With the COVID-19 virus causing economic disruption, the Workers’ Compensation Research Institute would like to share the findings from a study it published in 2010 that sheds light on how a typical recession affects the return to work of injured …

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AXA XL Launches Insurance Policy for Autonomous Vehicles

AXA XL announced the launch of an insurance solution designed to cover the risks associated with autonomous vehicles. The offering will help companies developing or using the technology to better manage and transfer those new and evolving risks. The policy, …

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Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak

Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact on state insurance operations, agents and policyholders. In some cases, regulators …

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Alera Group Acquires Fall River Employee Benefits in Colorado

Alera Group has acquired Fall River Employee Benefits in Denver, Colo. Terms of the deal were not disclosed. Fall River joins Alera Group through Benefit Commerce Group, an Alera Group company. The Fall River team will continue serving clients in …

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Judge Warns of Jury Harassment, Intimidation in N.C. Insurance Bribery Case

A federal judge on Wednesday ordered two men convicted of trying to bribe a North Carolina insurance regulator not to contact jurors from their recently completed trial after learning a consultant attempted to do so on their behalf. U.S. District …

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South Carolina University Student Suspected of Setting 20 Campus Fires

A student accused of setting an off-campus fire is the only suspect in about 20 fires set on the campus of the University of South Carolina Upstate, police said. Brandon Michael Burt, 19, of Suwanee, Georgia, was booked Monday in …

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Life Insurers Go Sow on New Policies to Limit Coronavirus Risk

U.S. life insurers are trying to curb their own risks to coronavirus by imposing waiting periods for applicants who have traveled to regions with widespread outbreaks, industry experts said. Life insurers are worried about insuring U.S. customers who have traveled …

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California Places All Residents Under ‘Stay at Home’ Order

California’s governor on Thursday issued a statewide “stay at home order” directing residents to leave their homes only when necessary during the coronavirus pandemic. Governor Gavin Newsom said that modeling has shown that 56 percent of California residents were expected …

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Turning 50, Invest High School Program Eyes Apprenticeships for Independent Agencies

A new apprenticeship program aimed at attracting and developing talent in the independent agency system is being rolled out by an insurance education organization that celebrates its 50th anniversary this year. Invest, the insurance education program affiliated with the Independent …

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Texas Stamping Office Still Processing Policies, Fees Amid Pandemic Precautions

Its employees are now working remotely but the Surplus Lines Stamping Office of Texas (SLTX) reports that all duties and responsibilities, including policy processing and fee collections, continue to be met. SLTX said it enacted a work-from-home policy for staff …

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Broker BMS Appoints Pfeffer from OneBeacon as U.S. Chief Casualty Officer

BMS Group, the independent specialist re/insurance broker, announced the appointment of Jonah Pfeffer as chief casualty officer at BMS Re U.S., effective immediately. He will report to Pete Chandler, president and CEO at BMS Re U.S., and focus on the …

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Home, Business Evictions Banned in Kansas until May 1

Kansas Gov. Laura Kelly has ordered financial institutions to temporarily suspend business and residential evictions to help those financially affected by the spread of the coronavirus. The executive order signed by Kelly says it will allow Kansans to “retain their …

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Company to Pay South Dakota $3.4M in 911 Call System Lawsuit

South Dakota officials have announced the state will receive $3.4 million in a settlement with the company that used to provide its 911 call system. After a series of alleged 911 call failures, the state decided to switch its emergency …

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Florida Woman Pleads Guilty to Hurricane Disaster Assistance Fraud

A Florida woman has pleaded guilty to lying about damage caused by Hurricane Irma. Bernita Willette Carswell, 36, pleaded guilty in Jacksonville federal court last week to one count of disaster assistance fraud, according to court records. She faces up …

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UK Regulator Warns Insurers to Have ‘Robust’ Coronavirus Contingency Plans

The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus pandemic. The FCA expects firms to have “sufficiently robust systems and …

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Colorado Man And His Insurer to Pay $500K Over 2017 Wildfire

A Colorado man and his insurance company paid $500,000 to the U.S. government over a wildfire that burned federal land in the state. Dale Owns and Grange Insurance Association made the payment to resolve liability for the 2017 blaze that …

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California Calling for 60-Day Premium Grace Period Amid COVID-19 Outbreak

California Insurance Commissioner Ricardo Lara is asking insurers for a grace period on paying premiums. Lara today issued a notice requesting that all insurance companies provide their policyholders with at least a 60-day grace period to pay insurance premiums to …

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Alera Group Acquires Pennsylvania’s Trilogy Group Benefits

Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, has acquired Trilogy Group Benefits LLC, effective February 28, 2020. Trilogy joins Alera Group through local firm AIA, Alera Group. The Trilogy team will continue …

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Netflix Sued by Former Prosecutor Over Portrayal in ‘Central Park Five’ Miniseries

A former prosecutor who ran the sex crimes unit in the Manhattan District Attorney’s office in 1989 sued Netflix on Wednesday for defamation over her portrayal in “When They See Us,” claiming the miniseries about the “Central Park Five” fabricated …

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Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims

A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation like this. “The New Jersey legislation would alter multiple …

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Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns

A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close by civil …

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Willis Towers Watson Taps Marsh’s Finbow as Head of FINEX Financial Institutions

Willis Towers Watson announced the appointment of Susan Finbow as global head of FINEX (financial, executive and professional risks) Financial Institutions. Based in Toronto, Finbow will be responsible for the direction and servicing of FINEX Financial Institutions teams and client …

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UK’s Prudential to Buy Thai Bancassurance Partnership from FWD Group

Prudential Plc, the UK insurer besieged by activist investor Third Point, has agreed to acquire a bancassurance partnership in Thailand from FWD Group Ltd. in a 24.5 billion baht ($753 million) deal. Prudential’s Thai unit will buy the exclusive rights …

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Growing Exodus of Workers from City of London Cripples Small Businesses

At lunch hour, James Leahy’s Burrito Joe stall in the City of London’s financial district is usually buzzing as people line up from around the corner for their fajitas, tacos, quesadillas and rice-and-meat bowls. Now, those same finance sector employees …

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Lloyd’s Closes London Underwriting Room in Response to Coronavirus Crisis

After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its underwriting room in response to the coronavirus outbreak. “Last Friday, Lloyd’s closed the underwriting room to test that the market …

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A Good Piece of Advice from RMS’ CEO About Assessing a Change in Roles

Karen White, CEO of RMS, said one of the best decisions in her career was to join Oracle, which took her career on a different trajectory. At the time, in 1993, she had a very secure position as CEO with …

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RMS CEO White: Embracing Change in a Transforming Industry

During her career, Karen White, the CEO of RMS, has had a front-row seat to observe what happens with companies and industries in transformation and how enormous value—and disruption—can be created. While some people are afraid of change, White embraces …

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EG Insurance Takes Over Policies of Defunct Windhaven MGA The Hearth

A new managing general agent has taken over the policies of Windhaven Insurance Company subsidiary The Hearth Group and will begin writing new business in Florida and Texas in the near future. EG Insurance Agency, based in Florida and Texas, …

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TigerRisk Names O’Neill Florida Client Executive

TigerRisk Partners LLC, a risk/capital management and strategic advisory firm, has named Brian O’Neill partner and client executive, Florida Business. In his new role, O’Neill will foster the development of property catastrophe products in Florida and other coastal states. O’Neill …

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Cisco Systems Agrees to Resolve Alleged Pay Discrimination in California

Cisco Systems Inc. has agreed to pay $2 million in lost wages and interest to affected employees in San Jose, Calif., and provide at least $2.7 million in pay-equity adjustments to its employees nationwide in the next five years in …

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Insurance Will Help But NCAA Faces Loss of Millions Due to Lost Tournament

The NCAA made more than $1 billion last year, almost $867 million from the men’s Division I basketball tournament, and most of that from a massive television rights deal with CBS and Turner that runs through the 2032 tournament. The …

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California Department of Insurance Has Man Extradited from Poland in $2.6M Fraud Ring

California Department of Insurance detectives took Yeghishe Msryan, 67, into custody after he was arrested in Poland and extradited back to Los Angeles by the U.S. Marshals Service for his alleged involvement in an organized fraud ring in which he …

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Spring Forecast: 65% Chance of No El Niño or La Niña

There is about a 65% chance that neutral weather conditions will prevail in the Northern Hemisphere this spring with no El Niño or La Niña, up from 60% last month, a U.S. government weather forecaster said March 12. The El …

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Weekend Blaze at Georgia Paper Mill Under Investigation

Fire investigators are trying to determine what started a blaze that caused extensive damage to a paper mill in northwest Georgia over the weekend. A large building at the International Paper mill in Coosa, about 12 miles (19 kilometers) from …

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Illinois Manufacturer Fined $258K for Exposing Employees to Machine Hazards

An Arcola, Illinois-based manufacturer faces over $258,000 in penalties and numerous citations for violations of federal machine safety standards, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) reported. Monahan Filaments LLC was cited after an employee suffered …

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Illinois Casualty to Suspend Billing to Restaurants, Taverns in COVID-19 Response

Beginning on March 20, Rock Island, Ill.-based Illinois Casualty Co. (ICC), a wholly owned subsidiary of ICC Holdings Inc., will temporarily suspend all insurance premium billing for 30 days. The company said the action is in response to growing COVID-19 …

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Patriot Insurance Enters Nebraska with Addition of The Olson Group

Patriot Growth Insurance Service LLC (Patriot), a national insurance agency headquartered in Fort Washington, Penn., has added Omaha, Neb.-based The Olson Group (Olson) to the Patriot platform. The partnership with Olson significantly strengthens Patriot’s existing employee benefits capabilities and further …

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Oklahoma Workers’ Comp Commission Extends COVID-19 Related Closures

The Oklahoma Workers’ Compensation Commission (WCC) and the Court of Existing Claims (CEC) announced on Tuesday that the COVID-19 related office closures in Oklahoma City and Tulsa will continue for the remainder of the week, March 18 through March 20. …

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Some Telemedicine Regulations Waived in Texas in Effort to Expand Access

The Texas Department of Insurance has issued an emergency rule aimed at helping doctors across the state to continue treating patients during the crisis created by COVID-19, the disease stemming from the new coronavirus. Gov. Greg Abbott waived certain telemedicine …

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EU Insurers Must Preserve Capital Positions as Coronavirus Crisis Escalates: Watchdog

Insurance companies should take measures to preserve their capital position and be prudent about dividend and bonus payments as the coronavirus outbreak disrupts households and businesses, the European insurance watchdog said. “Insurers are likely to face progressively difficult conditions in …

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AIR Worldwide Provides Update on COVID-19 Cases Across the Globe

AIR Worldwide, the Boston-based catastrophe risk modeling firm, projected the number of severe cases of COVID-19 could range between 200,000 and 900,000 globally, with deaths ranging from 10,000 to 30,500 for the remainder of the month of March. During the …

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Inszone Insurance Acquires Global Pro Insurance Services in California

Inszone Insurance Services has acquired Global Pro Insurance Services in Pleasanton, Calif. Terms of the deal were not disclosed. Global Pro provides property/casualty insurance services to individual and businesses throughout the Bay Area. Inszone Insurance Services is a privately held …

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N.J. Worker Fired for Medical Marijuana Use Can Pursue Disability Discrimination Claim

The New Jersey Supreme Court has ruled that an employee can pursue a disability discrimination claim under the New Jersey Law Against Discrimination (NJLAD) after being fired due to his legal use of medical marijuana outside of work. This decision …

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Olympics Organizers Remain Committed to Holding Games, Despite Coronavirus

The International Olympic Committee remains committed to holding the Tokyo Olympics this year and is confident steps taken around the world will help contain the novel coronavirus, but the group is now talking in more cautious terms about the potential …

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AM Best to Test Insurers for Coronavirus Impact; Fitch Lowers Allstate Outlook

Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and …

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New York OTDA Employee Arrested For Nearly $12K Sick-Leave Fraud

A New York State Office of Temporary and Disability Assistance (OTDA) employee has been arrested after allegedly submitted 13 forged doctors’ notes over the course of six months to obtain 75 days of paid sick leave, totaling $11,867.74. Jacob R. …

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Massachusetts’ Governor Baker Announces $10M Small Business Recovery Fund

Massachusetts Governor Charlie Baker has announced a $10 million small business recovery loan fund to help companies struggling because of efforts to slow the coronavirus pandemic. Baker said Monday the fund will provide emergency capital up to $75,000 to Massachusetts-based …

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Governor Wolf Orders COVID-19 Shutdown Across Pennsylvania

Pennsylvania Governor Tom Wolf extended a shutdown order Monday to the entire state of Pennsylvania in an effort to halt the spread of the coronavirus, although he also maintained that he will not send the National Guard or state police …

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Aspen Appoints Chidwick as Chief Financial Officer, Succeeding Kirk

Aspen Insurance Holdings Ltd. announced that Kevin Chidwick has been appointed group chief financial officer, effective May 1, 2020. Chidwick, who will report to Mark Cloutier, executive chairman and group chief executive officer, succeeds Scott Kirk, who will leave Aspen …

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P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best

In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent report. The special report, “AM …

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Lloyd’s Asks Market Insurers to Provide Estimates for Coronavirus Losses

Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impact of the …

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Florida Regulator Directs Insurers to Prepare for Coronavirus-Related Interruptions

The Florida Office of Insurance Regulation (OIR) is directing all insurers to review and update their business continuity and/or continuity of operations plans in light of the current outbreak of coronavirus strain COVID-19. In a memorandum issued by OIR March …

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Investor Suit Alleges Pharma Company Made False Claim of COVID-19 Vaccine

Pennsylvania-based Inovio Pharmaceuticals is the target of a planned class action lawsuit alleging it falsely claimed it has developed a vaccine for COVID-19 that would go into testing as soon as next month. But the pharmaceutical firm has said the …

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Alliant Adds White to Northwest Employee Benefits Team

Alliant Insurance Services Inc. has added Sean White to its employee benefits team as first vice president. White will provide strategic benefits solutions to clients throughout the Northwest. He will be based in Boise, Idaho. White has experience in the …

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Study Finds Bias Against Job Candidates Motivated by Pay, Benefits

People with work they are passionate about say it doesn’t even feel like a job. But that doesn’t have to mean one’s sole motivation has to come from the work itself. People can also be motivated by the salary and …

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Cattle Ranchers Worry Despite Having Tech to Track Diseases

Before June 2018, finding cattle that were potentially exposed to diseases was time-consuming and complicated, requiring a patchwork of information from auction houses, feedlots, producers and meatpacking plants. That’s when Kansas spearheaded U.S. CattleTrace, filling a void when it comes …

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Workers’ Comp Dockets Temporarily Closed in Oklahoma; Louisiana WC Court Appearances Still On

The Oklahoma Workers’ Compensation Commission (WCC) said it is striking all commission dockets in Oklahoma City and Tulsa set during the week of March 16, and has closed the administrative offices in both Oklahoma City and Tulsa for two days …

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Crawford’s Global Technical Services U.S. President Hunt to Retire

Crawford & Company, a provider of claims management and outsourcing products to carriers, brokers and corporates, announced that Terry Hunt will retire from his role as U.S. President of Global Technical Services, effective May 15, 2020. Crawford is in the …

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2 Barges of Grain Sink in Mississippi River in Tugboat Crash

A tugboat leading a train of barges of grain crashed into a Louisiana bridge near Luling, causing two of the barges to sink in the Mississippi River. The tugboat, identified as Cooperative Spirit, collided with the Luling Bridge early Sunday …

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Fink Joins AAdvantage Insurance Group as Sales Agent in Illinois

AAdvantage Insurance Group in Glen Carbon, Illinois, has hired professional soccer player, Sam Fink, as a sales agent. In this position, Fink will be responsible for generating prospects, developing new relationships, and handling existing accounts to ensure total customer satisfaction …

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Indiana Insurance Dept.: Childcare Facilities Not in Danger of Losing Liability Coverage

In response to concerns that have apparently been raised regarding the status of liability insurance coverage for facilities that provide services such as childcare and meals to the community, the Indiana Department of Insurance said such facilities would retain their …

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International General Insurance and Tiberius Acquisition Complete Merger

International General Insurance Holdings Ltd. (IGI) and the special purpose acquisition company Tiberius Acquisition Corp. have completed their previously announced merger. The business combination, which was first announced in October 2019, was approved by Tiberius stockholders at a special meeting …

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U.S. Agency Rewrite of Rules Will Speed Up Arrival of Self-Driving Cars

The National Highway Traffic Safety Administration (NHTSA) said Tuesday it was proposing sweeping changes to U.S. safety requirements to speed the deployment of self-driving vehicles without human controls. The agency said it is proposing to rewrite 11 safety standards that …

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New Mexico District Settles for $475K After Teacher Punched 9-Year-Old

A New Mexico school district has agreed to pay $475,000 to settle a lawsuit filed by the family of a boy who was punched by a music teacher. The Santa Fe New Mexican reports a copy of the settlement says …

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Willis Towers Watson Launches Business Aviation Community Group

Willis Towers Watson announced the launch of “A Class,” a community group focused on delivering data, knowledge and solutions to its business aviation clients. A Class focuses on data analytics and risk strategy, equipping business aviation operators with data and …

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Innovation, Economic Growth Depend on Taking Risks, Tolerating Failure: Viewpoint

While concerns loom over an impending recession caused by the spread of COVID-19, policymakers and business leaders have implemented radical strategies, such as slashing interest rates to invigorate the country’s weakened economy. Research and Development (R&D) has long been key …

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Everest Re Restructures Risk Management Function, Naming Mango CRO, Chief Actuary

Everest Re Group Ltd. announced the promotion of Don Mango to Everest Group chief risk officer and chief actuary, effective March 30th. In this new role, Mango will report to Everest Re Group President and CEO Juan C. Andrade. He …

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Maine Moves to Help Businesses, Workers as Closures Mount

Maine’s governor announced steps Sunday designed to protect businesses and workers as closures mount amid the coronavirus pandemic. Governor Janet Mills said she has submitted emergency legislation to temporarily expand eligibility for unemployment insurance. She also called on the federal …

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Virginia’s Kinsale Capital Group Promotes Haney, Petrucelli, Marson

Kinsale Capital Group Inc. has promoted Brian D. Haney to executive vice president and chief operating officer, Bryan P. Petrucelli to executive vice president, chief financial officer and treasurer, and Ann Marie Marson to executive vice president and chief claims …

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Lockton Hires Asencio to Northeast Region as Employee Benefits Practice Leader

Lockton has hired John Asencio to its Northeast region as Employee Benefits Practice leader. With more than 25 years of experience in health and welfare benefits consulting, Asencio will oversee operations in New York, Philadelphia, Washington D.C., Hartford and Boston. …

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EU Regulators Ask Firms to Delay M&A Antitrust Filings Due to Coronavirus

European Union regulators have asked companies seeking to complete their desired mergers to delay submitting antitrust filings due to the coronavirus outbreak. That could affect the timelines of agreed deals. Among the biggest is the London Stock Exchange’s proposed acquisition …

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Most British Companies Don’t Have Insurance for Coronavirus Closures: ABI

Most companies in Britain don’t have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday. The government recommended on Monday that people avoid restaurants, bars and clubs, and work from home where …

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Florida Agency Reps Cleared to Work Remotely Amid Coronavirus Outbreak

Florida’s state of emergency due to the rapid spread of coronavirus in the state, and throughout the country, has created a need for many workers to work remotely. However, certain licensed insurance employees were restricted from doing so by a …

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Watch Out for Coronavirus-Tied Cyber Attacks on Remote Workers, Warns Tech Professor

The heightened fear and anxiety that COVID-19 is causing people worldwide brings vulnerable targets for cyber hackers. “We are living in a heightened time of cyber risk. Cyber criminals will take advantage of public fear and due diligence health measures …

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Virus Impact on Workers’ Compensation Limited But Some Workers May Be Covered

The outbreak of coronavirus has already resulted in some workers’ compensation claims and more are expected. But whether those claims are going to succeed depends on the individual circumstances and the state where the infection occurred. While compensability issues will …

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Insurance Office of America Adds Paul to Entertainment Division in California

Insurance Office of America has added Keith Paul to its entertainment division as a risk management consultant. Paul will be based in the Encino, Calif. office. Before joining IOA, he was a client executive at NFP in its entertainment group …

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PG&E Approved by Judge for $23B Bankruptcy Financing Package

Power producer PG&E Corp. said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Gov. Gavin Newsom dropped his opposition to those financing commitments. The U.S. bankruptcy court of Northern California …

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Meetings Update: Target Markets Mid-Year Called Off; RIMS Cancels Colorado Conference

The Target Market Program Administrators Association has become the latest insurance organization to cancel a meeting. TMPAA Executive Director Ray Scotto announced that the 2020 TMPAA Mid-Year Meeting planned for Tampa on May 4-6 will not be held. “With travel …

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Some TDI Meetings, Events to Go Online, Some Postponed or Cancelled

The Texas Department of Insurance (TDI) is postponing or creating online options for several upcoming meetings and events to help prevent the spread of COVID-19. March 26: Stakeholder meeting on SB 1264 data reporting. Status: There will be a webinar …

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Tornado Death Toll Rises to 25 in Tennessee

The death toll from storms that unleashed powerful tornadoes in Tennessee early this month has risen to 25, authorities said Thursday as they announced that a man had died of his injuries. The death raised the number of storm-related fatalities …

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Arkansas’ Southern Pioneer P/C Insurance Acquired by Biglari Holdings; Ratings Unchanged

AM Best said the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of Southern Pioneer Property and Casualty Insurance Co. (Southern Pioneer), based in Jonesboro, Ark., remain unchanged following its acquisition by …

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Alabama Senate Approves Medical Marijuana Bill

A medical marijuana bill cleared its first floor vote Thursday in the Alabama Legislature as advocates hope to make headway after years of setbacks. The Alabama Senate vote 22-10 for the bill by Republican Sen. Tim Melson after five hours …

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U. of Kansas to Pay $144K Settle Retaliation Lawsuit in Age Discrimination Case

The University of Kansas will pay $144,000 and furnish other relief to settle a federal retaliation lawsuit related to the firing of an employee for reporting age discrimination. The lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) alleges …

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Update: Florida Bans Nursing Home Visits as Coronavirus Spreads

Gov. Ron DeSantis on Saturday banned most visits to nursing homes statewide as he acknowledged the coronavirus has likely spread into the general population. Meanwhile, officials closed world-famous South Beach to prevent college spring breakers from congregating. During a news …

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Circus Circus in Las Vegas Faces Suit in 2019 Beating Death

The husband of a California woman who was found beaten to death at a Nevada casino is suing the hotel and casino. An attorney for Robert Morris filed the lawsuit in Washoe County District Court in connection with the death …

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Pipeline Owner Agrees to Pay $60M in 2015 California Spill

The owner of an oil pipeline that spewed thousands of barrels of crude oil onto Southern California beaches in 2015 will pay $60 million to to settle allegations that it violated safety laws, the U.S. Environmental Protection Agency announced. Texas-based …

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Arthur J. Gallagher Acquires McConnell, Manit & Trout in California

Arthur J. Gallagher & Co. has acquired McConnell, Manit & Trout Insurance Services LLC in San Louis, Obispo, Calif. Terms of the deal were not disclosed. Rick McConnell, Mike Manit, Doug Trout and their associates will continue to operate from …

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Canopius Acquires Bermuda-Based Specialty Reinsurer Multi-Strat Holdings

Canopius Group Ltd. has purchased a majority stake in Bermuda-based Multi-Strat Holdings Ltd. Financial details of the transaction were not disclosed. MultiStrat is a specialty reinsurance group that writes both prospective and retrospective casualty reinsurance sourced through select reinsurance intermediaries. …

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New York Woman Sentenced for Defrauding Workers’ Comp System of More Than $5K

New York State Inspector General Letizia Tagliafierro has announced the sentencing of a Rochester, N.Y., woman who defrauded the workers’ compensation system of more than $5,000 by endorsing and cashing wage reimbursement checks intended for her deceased grandmother. Brandy Sheppard …

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Driver Injured in Accident Not Eligible for Workers’ Comp After Failing to Wear Seat Belt

The Court of Appeals of Virginia has upheld a Virginia Workers’ Compensation Commission decision that workers’ comp benefits cannot be awarded to a truck driver injured in an accident after failing to wear a seat belt. This decision comes after …

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Workers at High Risk for Coronavirus Exposure and How to Protect Them

According to the Occupational Safety and Health Administration (OSHA), which is responsible for workplace safety regulations, certain workers are at higher risk than others for exposure to the coronavirus and the disease COVID-19. Nurses, doctors, lab and morgue workers are …

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Fire Kills Five People at Petronas-Aramco Oil Refinery in Malaysia

A fire killed five people at an oil refining complex in southern Malaysia owned by Petronas and Saudi Aramco, forcing the closure of the facility that was set to begin full commercial operations this year. It was the second fire …

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Unions, Groups Want OSHA to Require Steps to Protect Coronavirus Workers

Nearly 30 unions and advocacy groups on Friday urged the U.S. employee safety regulator to impose a suite of emergency measures to safeguard public-facing workers against the new coronavirus. In a letter, the groups asked the Operational Safety and Health …

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Pilot Dies After Small Plane Crashes in Massachusetts

The pilot of a small plane that crashed into a wooded and swampy area shortly after takeoff from a Massachusetts airport has died, authorities say. The Cessna 177 single-engine plane crashed about 100 yards north of the runway after taking …

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British Insurers Suspend Sale of Travel Insurance to New Customers

British insurers Admiral, Aviva and Direct Line are no longer offering travel insurance to new customers, they said on their websites on Friday. “The ongoing global situation with coronavirus means there’s much greater likelihood of disruption to people’s travel plans, …

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RMS Appoints Steel as Global Head of Business Development

RMS, the catastrophe risk modeling company, announced the appointment of Michael Steel as global head of Business Development, joining the RMS Executive Committee. Steel first joined RMS in 2016 to help drive innovations to solve the key risk management challenges …

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After Australia’s 2019 Floods, Insurers Begin to Bail, Banks Keep Lending

Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …

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PERILS to Include Australian Motor in Industry Catastrophe Exposure Update

PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it will extend its line of business reporting to include Australian motor for personal and commercial lines. PERILS will include Australian motor as part of its industry exposure …

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Europe’s Soccer Clubs May Face $1B Bill if Coronavirus Forces Season Cancellation

If the coronavirus forces Europe’s soccer leagues to cancel the rest of the season, TV networks may be able to demand more than $1 billion in compensation. The move to suspend international games and competitions in England, Spain and Italy …

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Prepared Insurance of Florida to be Acquired by Lighthouse Property Insurance Corp.

Lighthouse Property Insurance Corp. plans to acquire its sister carrier, Prepared Insurance Company (Prepared), from Prepared Holdings Group. Lighthouse is a Louisiana-domiciled property and casualty insurance carrier authorized to write policies in Louisiana, Texas, North Carolina and South Carolina. Prepared …

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Insurer Closed Missouri Office for 1 Day After Likely Employee Contact with Virus Reported

Last Friday, American Family Insurance Co. closed a regional office out of concern that an employee may have been exposed to an airline passenger on a March 4 domestic flight who later tested positive for COVID-19. According to American Family, …

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Meetings Update March 14: RIMS Huddles to Decide Fate of Annual Conference in Colorado

Following the continued spread of the coronavirus, Colorado’s ban on gatherings of more than 250 people and the closing of the Colorado Convention Center until April 12, the global risk managers’ organization RIMS is having to decide whether to continue …

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Texas Insurance Department: New Building Codes to Strengthen Coastal Properties

Texas insurance regulators have adopted stronger building codes for homes and buildings in counties along Gulf Coast. The Texas Department of Insurance (TDI) said the new construction standards apply any new building or property repairs in which the owner seeks …

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Insurer Responsible for Liability Claims Despite Uninsured Premises Exclusion

The Massachusetts Supreme Judicial Court has ruled that an insurer is responsible for paying liability claims resulting from the improper use of a portable generator, despite an uninsured premises exclusion in the insured’s homeowners policy. This comes after four people …

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Dubai’s IGI Bermuda to Begin Writing E&S in U.S.

Dubai, United Arab Emirates-based International General Insurance Holdings said that its Bermuda subsidiary, International General Insurance Co., has been granted provisional approval to begin writing U.S. excess and surplus lines business effective April 1, 2020. The company said the approval …

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Not All Workers Have Same Options for Avoiding Virus

A barber in Beijing is supporting his wife and child by charging food and other expenses to a credit card while he waits for his employer’s shop to reopen. A waiter at a barbecue restaurant in Kansas City, Missouri, washes …

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P/C Insurers Expect Smaller M&As to Continue in 2020

Despite a sharp decline in M&A activity in 2019 and continuing economic uncertainty, more than half of the property/casualty insurance executives surveyed by Deloitte still expect to complete an M&A transaction in the next two years. Insurance carriers still view …

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Indiana State University Wins First Place in Selective Insurance Collegiate Competition

Indiana State University has won first place in Selective Insurance’s Collegiate Competition. Second place was claimed by Middle Tennessee University, while Appalachian State University placed third. The month-long, intensive collegiate competition for risk management and insurance students is designed to …

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California City is Paying $42.6 M to Settle Sex Abuse Claims

Santa Monica will pay $42.6 million to nearly two dozen victims of a city employee and former youth volunteer who killed himself after being charged with molestation, according to a newspaper report. The City Council on this week agreed to …

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Meetings Update March 13: No In-Person Audience for Buffett’s Annual Meeting

Warren Buffett, CEO, said there will be a Berkshire Hathaway annual meeting as usual on May 2 but it will be unusual in that it will not be attended by thousands of shareholders, employees and media representatives as in the …

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VW Launches Software It Hopes Will Make Car Accidents Obsolete by 2050

Volkswagen will launch a new software operating system this year that it hopes will make accidents involving its cars a thing of the past by 2050, the company said on Thursday. Next generation cars will be equipped with software, sensors …

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Worldwide Facilities Hires Curry as Senior Vice President in New York Office

Worldwide Facilities, a national wholesale insurance broker, managing general agent and program underwriter, has hired John Curry as senior vice president in its New York, N.Y., office location. Curry’s recent experience includes a role as vice president, in which he …

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Mother Whose Son Drowned After Drinking Alcohol at Game Sues TD Garden

The mother of a Massachusetts man who drowned in the Charles River after drinking alcohol at a Boston Celtics game is suing TD Garden and its parent company for unspecified damages. Lori Kelleher filed a wrongful death lawsuit Wednesday alleging …

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Italian Companies, Including Generali, to Provide Funds for Coronavirus Crisis

Italy’s biggest insurer Generali on Friday joined a rising number of companies that have rushed to provide funds to fight the coronavirus crisis. Italy has been hardest hit by the outbreak in Europe, with 15,113 confirmed cases of coronavirus, which …

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Coronavirus Drives Patients to Online Doctors, Spurring Telemedicine Sector

The new coronavirus that’s forcing lockdowns and roiling economies is spurring a silent revolution in the field of telemedicine. As COVID-19 spreads across Europe, leaving new patients in its wake, the fear of infection and a saturated health-care system are …

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Italy’s Generali Posts Record Operating Result for 2019

Italy’s biggest insurer Assicurazioni Generali confirmed all its targets through 2021 on Friday, after posting a record operating result for 2019, despite coronavirus-related uncertainty and soaring market volatility. Italy has been hardest hit by the outbreak in Europe, with 15,113 …

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Oman Insurance Considers Making Bid for AXA’s Middle East Operations

Oman Insurance Co. PSC is considering making a bid for the Middle Eastern operations of French insurer AXA SA, according to people familiar with the matter. The company that’s backed by Dubai-based bank Mashreq PSC is working with Barclays Plc …

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Florida Passes Bill to Combat Blue-Green Algae Blooms

The Florida Legislature is attempting to rein in the blue-green algae blooms that have hurt tourism and wildlife, sending Republican Gov. Ron DeSantis a bill that seeks to reduce nutrients reaching the state’s waterways and groundwater. The bill is a …

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Visits to Florida Nursing Homes Restricted Amidst Coronavirus Spread

Gov. Ron DeSantis placed limits Wednesday on who can can visit Florida’s nursing homes and other assisted living facilities, bidding to protect the state’s sizeable and vulnerable elderly population from the new coronavirus. The governor took the step by executive …

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Oklahoma’s First United Insurance Merges with Independent Insurance Group

First United Insurance, headquartered in Durant, Oklahoma, has merged with Dallas-based Independent Insurance Group. First United Insurance President Howard McClure said the partnership with Independent Insurance Group will give First United the opportunity to continue growing its business in Texas. …

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Katz Named Executive VP, General Counsel for Ryan Specialty Group in Chicago

Chicago-based Ryan Specialty Group (RSG) has appointed Mark S. Katz executive vice president, general counsel. In his new position, Katz will lead RSG’s Legal, Compliance and Regulatory functions. Katz joined Ryan Specialty Group in February 2019 as senior vice president …

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Iowa’s First MainStreet Insurance Acquires 3 New Agencies

First MainStreet Insurance (FMSI), a Cedar Rapids, Iowa-based affiliate of TrueNorth Companies, has closed on its acquisition of three new agencies. The firm expanded to Western Iowa with the merger of EGR Insurance in Moville. A dedicated staff of 10, …

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Coronavirus Work-from-Home Response May Expand Cyber Risk

As U.S. employers ask employees to work from home to avoid exposure to coronavirus, they may be exposing themselves to another kind of risk: Cyberattacks. Aon recently issued an advisory cautioning employers to take steps to ensure that work-from-home employees …

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Despite China Deal, U.S. Farmers Still Dependent on Government Aid: Analysis

As U.S. President Donald Trump touted the signing of a U.S.-China trade deal in January, he told cash-strapped farmers they would soon need bigger tractors and “a little more land” to meet additional Chinese demand for U.S. agricultural goods. His …

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Judge OKs $34M Settlement with Minnesota’s New Ulm Diocese in Sex Abuse Case

A bankruptcy judge has approved a $34 million settlement between the Diocese of New Ulm in Minnesota and nearly 100 people who say they were sexually abused by priests and others. Bishop John LeVoir apologized to sexual abuse survivors during …

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West Virginia Lawmaker Loses Suit Blaming Indiana Bar for Blindness

The Indiana Supreme Court has ruled against a lawsuit filed by a West Virginia delegate over a 2006 parking lot brawl that left him blinded years before he was elected to office. The lawsuit said Cavanaugh’s Sports Bar & Eatery, …

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Wisconsin Governor Proposes Flood Bills Hoping to Bring Lawmakers Back

Democratic Gov. Tony Evers has proposed a multimillion-dollar package of legislation designed to control spring flooding, hoping to convince Republicans to reconvene the state Assembly to pass them. Assembly Republicans adjourned their two-year session in February and aren’t expected to …

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Hub Acquires Assets Harris, Madden, Powell, Stallings & Brown of Tennessee

Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Harris, Madden, Powell, Stallings & Brown, Inc. (HMP). Terms of the transaction were not disclosed. HMP is an independent, full-service commercial, surety, employee benefits and personal lines …

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London’s EC3 Brokers Starts U.S. Property Wholesale Unit; 3 Jeffery Brothers to Head

London-based EC3 Brokers has launched a U.S. property wholesale division based in London, with the appointments of Matthew Jeffery as managing director and David and Daniel Jeffery as divisional directors. The brothers, who joined EC3 Brokers at the end of …

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Update March 12: Insurance Conferences Canceled, Postponed, Going Virtual

The roster of insurance-related conferences being canceled, postponed or moved to virtual in response to the coronavirus threat keeps changing. Here is an updated list of changes: March Property Liability Research Bureau (PLRB) called off its 2020 Claims Conference scheduled …

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Coronavirus Cases in at Least 10 Washington Nursing Homes

At least 10 long-term care facilities in the Seattle area have reported COVID-19 cases, with deaths at three of them _ a worrying development as health officials have cautioned that the elderly and those with underlying conditions are especially at …

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California Governor Warns of More Restrictions to Stop Virus

California Gov. Gavin Newsom urged the state’s nearly 40 million residents to avoid sporting events, concerts and large gatherings to prevent the spread of the coronavirus and adamantly warned the elderly to stay away from cruise ships as he pondered …

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Lloyd’s to Shut London Building for Coronavirus Stress-Test – But Trading Will Continue

Lloyd’s is shutting its London underwriting room at 1 Lime Street for one day for a contingency planning exercise in response to the coronavirus outbreak. Starting at midnight tonight and for 24 hours, Lloyd’s will stress-test its alternative trading protocols, …

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QBE North America Appoints Moore Chief Operating Officer

QBE North America announced the appointment of Dan Moore as chief operating officer, effective immediately. In this role, he will lead Claims, Technology and Operations and oversee communications and branding. He had been serving as the chief operating officer on …

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Maine Gas Utility Will Be Fined $50K for Safety Problems

Maine regulators are going to fine a gas utility $50,000 for failures to meet safety requirements. The company, Maine Natural Gas of Brunswick, is a subsidiary of Avangrid, which also owns Central Maine Power. Maine Natural Gas delivers pipeline gas …

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Governor Murphy Waives Fees for COVID-19 Testing for Some New Jersey Residents

New Jersey Governor Phil Murphy said Tuesday the state will waive fees for COVID-19 testing for more than 2 million residents on certain health plans. The waivers apply to residents with health insurance through their jobs with the state and …

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Mercier and Kosinski Insurance Joins Rhode Island’s Thompson Insurance Group

Mercier and Kosinski Insurance Inc. (MKI) has joined the Thompson Insurance Group to provide its customers with greater access to insurance companies, improved technology and additional insurance services. As a fourth-generation, family owned insurance agency, MKI has served the insurance …

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The Hilb Group Acquires Massachusetts’ LifePlus Insurance Agency

The Hilb Group LLC (THG) has acquired Massachusetts-based LifePlus Insurance Agency Inc. (LPINS). The transaction became effective March 1, 2020. Established in 2004, LPINS is a full-service ancillary benefits agency, primarily providing insurance for group life, worksite, dental and workers’ …

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Swiss Re Launches Digital Market Center Supported by Microsoft Data Analytics, AI Tools

Swiss Re has formed a strategic alliance with Microsoft Corp., which is providing digital tools to support Swiss Re’s new Digital Market Center. The Digital Market Center is designed to help develop next-generation, large-scale tools to transform the way the …

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China Non-Life Insurers See Big Drop in Car Accident Claims in Coronavirus Silver Lining

Chinese non-life insurers are discovering a silver lining to the cloud spreading over China’s economic performance from the coronavirus outbreak – a sharp drop in car accident claims. Beijing’s efforts to contain the new coronavirus have included widespread travel and …

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Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis

Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …

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Return-to-Work Rates on the Rise in Texas Workers’ Comp System: Report

The return-to-work (RTW) rate for employees in the Texas workers’ compensation system who received temporary income benefits (TIBs) for their injuries increased by 5% over the decade from 2007 to 2017. That’s the finding of a report recently released by …

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Idaho Woman Acknowledged She Sought Auto Coverage After Vehicle Hit Deer

An Idaho woman has been charged for insurance fraud over damage to her vehicle from a deer. Callene Zink, of Jefferson County, was charged and pled guilty to insurance fraud in violation of Idaho code 41-293(1)(c). Zink reportedly purchased an …

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Drugs Found in 1 in 4 Pilots Killed in Crashes

More than one in four pilots involved in fatal crashes have drugs in their system, and the number is up slightly since researchers first studied the problem. The National Transportation Safety Board said Tuesday that 28% of pilots who died …

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Florida Construction Co. Owner Accused of Evading $74K in Workers’ Comp Premiums

A construction company owner in Florida has been arrested for allegedly evaded paying nearly $74,000 in workers’ compensation insurance premiums, according to a statement from the Florida Department of Financial Services. Chief Financial Officer (CFO) Jimmy Patronis announced the arrest …

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U.S. Commission Explains Why It Thinks Insurance Is Failing Cybersecurity

The following excerpt is from the new report, “A Warning from Tomorrow,” on U.S. cybersecurity strategy by the Cyberspace Solarium Commission. The report contains about 75 recommendations on what the country should do to defend itself from cyber warfare and …

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U.S. Cybersecurity Report Calls for Major Government Role in Cyber Insurance

A major government report on cybersecurity that warns the nation is seriously underprepared for cyber attacks calls for the creation of a federally-funded center to develop cybersecurity insurance certifications and a public-private partnership on cyber risk models. The report, “A …

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Coronavirus Likely to Trigger Pandemic Bond Payouts to Poor Countries

The severity of the global coronavirus epidemic has reached levels almost certain to trigger a financial instrument sold by the World Bank to raise money for developing countries in a pandemic. The bonds, which were sold in 2017, are quoted …

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