Woodruff-Sawyer Names Pasek Assistant Vice President in California

Woodruff-Sawyer & Co. has named Josh Pasek assistant vice president in the property/casualty practice of the firm’s Southern California office. Pasek will be responsible for developing strategic risk management programs for clients, with a focus on industrial companies in the …

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Report: Number of Qualified Medical Evaluators in California Workers’ Comp Fell

The number of qualified medical evaluators resolve disputes over California workers’ compensation claim issues fell 20 percent between January 2012 and September 2017, according to a new California Workers’ Compensation Institute study. However, the CWCI study shows that the impact …

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Wisconsin Governor to Sign Health Reinsurance Bill

Wisconsin Gov. Scott Walker plans to sign into law a measure that’s designed to lower health insurance premiums for people buying plans through the Affordable Care Act. Walker announced that he would sign the bill that had bipartisan support. Walker’s …

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Wisconsin’s SECURA Promotes 5 to New Officer Positions

Appleton, Wisconsin-based SECURA Insurance promoted five leaders to newly created positions: Tamara Bates, regional vice president – Sales; Amy DeHart, vice president – chief actuarial officer; Jennifer Fisher, vice president – Property Claims; Carol Wedig, vice president – Continuous Improvement; …

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Chicago Aldermen Back $20M Settlement in Police ‘Code of Silence’ Case

A Chicago City Council committee has recommended paying a total of $20 million to families of two men who were killed when a drunken off-duty police detective slammed into their car nine years ago. The committee backed the settlement after …

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6 Months After Storm, Texas Launches Harvey Recovery Funds Tracker

Texas has launched a public online tool to track incoming and outgoing funds for Hurricane Harvey recovery, six months after the storm hit and two months after The Associated Press reported that it did not have one. Gov. Greg Abbott …

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Oklahoma Highway Safety Agency: Road Debris Increasing Crash Risk

More accidents are being caused by road debris as traffic volume in Oklahoma City increases, a state agency spokeswoman said. Traffic volume increased in the city by 35 to 40 percent over the last two decades, Oklahoma Department of Transportation …

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Oklahoma School District Settles Fraud Lawsuit with Food Distributor Sysco

Public school officials in suburban Oklahoma City have approved a private financial settlement with a food distribution company accused of fraudulently overcharging the district by more than $700,000. Terms of the settlement between Yukon Public Schools and the food distributor, …

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California Officials Lacked Good Fire Alert Plan, Report Shows

Officials in a Northern California county were ill-prepared, disorganized and lacked sufficient training when deadly, fast-moving wildfires broke out last October endangering about 100,000 people, according to a report from California emergency managers. Sonoma County officials requested the state review …

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Autonomous Car Testing Without Backup Drivers Approved in California

Driverless cars will be tested in California for the first time without a person behind a steering wheel under new rules that state regulators approved Monday for the fast-developing technology. The regulations are a major step toward getting autonomous vehicles …

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Stone Creek Insurance Agency Opens Washington Office, Adds Staff

Stone Creek Insurance Agency Inc. has opened a new office in the Paulsen building in downtown Spokane, Wash. and added several insurance professionals to staff the new location. Thomas Lynch has also been named vice president of operation for Stone …

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Sports Play Beats Age as Indicator of New Drivers’ Ability: Study

New male teen drivers are better than new male drivers in their 20s and male and female students who play sports are better drivers than those who do not. Video game experience, on the other hand, does not have any …

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Liberty Mutual Net Income Fell in 2017 Due to Catastrophes, Commercial Auto, Taxes

Liberty Mutual reported $17 million in net income for 2017, down substantially from more than $1 billion in 2016. The insurer pointed to catastrophe losses, adverse development in its commercial automobile business and a charge related to the Trump tax …

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Pennsylvania’s Radian Group Announces Two Executive Appointments

Radian Group Inc., a Philadelphia, Penn.-headquartered provider of private mortgage insurance, risk management products and real estate services to financial institutions, has announced two executive appointments. Derek Brummer has been promoted to the newly created position of senior executive vice …

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Judge Nixes Medical Benefits Challenge to Federal Marijuana Laws

A judge on Monday dismissed a lawsuit challenging federal laws criminalizing marijuana as unconstitutional, saying the five plaintiffs had failed to pursue changes in the drug’s legal status by first going through the Drug Enforcement Administration. U.S. District Judge Alvin …

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Landslides Close Roads, Damage Vehicles in Pittsburgh Area

Landslides in the Pittsburgh, Penn., area closed roads and damaged vehicles. Allegheny County officials said Saturday a Duquesne Heights landslide prompted closure of a street and evacuation of a home after materials slid down a slope against the home. Another …

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Judge Denies Wells Fargo Bid to Dodge Shareholder Lawsuit

A federal judge denied Wells Fargo & Co.’s request to dismiss a shareholder lawsuit triggered by the bank’s plummeting stock price after it admitted in 2016 to creating millions of fake accounts, starting the worst financial scandal in its modern …

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Pennsylvania District Reopens After Fire Destroyed, Damaged Several Buses

Schools are reopening in a Pennsylvania district where a fire destroyed or damaged more than two dozen school buses. Classes were canceled after the fast-moving blaze broke out Friday at a Parkland school district garage in South Whitehall, near Allentown, …

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Australia Orders Recall of 2.3M Vehicles with Takata Air Bags

Australia has ordered the recall of 2.3 million vehicles fitted with Takata Corp air bags that have been linked to deaths worldwide, in the country’s biggest compulsory product recall. The manufacturers of the vehicles will have to pay for the …

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JLT Acquires U.S. Trade Credit and Political Risk Broker IRC

Global broker Jardine Lloyd Thompson Group (JLT) has acquired International Risk Consultants (IRC), a U.S. broker specializing in specialist trade credit and political risk insurance. Based in Columbus, Ohio, and operating across U.S., Brazil, China and Hong Kong, IRC provides …

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Earthquake in Papua New Guinea Causes ‘Massive Disruptions’

Severe damage to phone networks and roads from a powerful earthquake in Papua New Guinea was hindering efforts to assess the extent of the destruction Tuesday, although officials in the remote central region feared dozens of people may have been …

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Bees Endangered by Neonicotinoid Pesticides: EU Food Safety Regulator

Wild bees and honeybees are put at risk by three pesticides from a group known as neonicotinoids, Europe’s food safety watchdog said on Wednesday, confirming previous concerns that prompted an EU-wide ban on use of the chemicals. The European Food …

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Commercial Insurance Prices Rise in Q4 2017, Reversing 4½ Years of Rate Cuts: Marsh

Average global insurance pricing in the fourth quarter of 2017 increased for the first time since Q1 2013, driven largely by global property insurance pricing following the third quarter’s large catastrophe losses, according to Marsh’s latest Market Index report. The …

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Europe’s Storm Friederike (aka David) to Cost Insurers €1.5B (US$1.8B): PERILS

The initial insured price tag for Extratropical Cyclone Friederike, also known as David, is an estimated €1.5 billion (US$1.8 billion), according to PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data. The event caused significant property damage across …

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UK Poised to Reject EU’s Draft Brexit Deal

Prime Minister Theresa May is preparing to reject the European Union’s draft Brexit deal when it’s published Wednesday, a senior official said, as her government steps up its fight with the bloc over the terms of Britain’s departure. With just …

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Navion Acquires Assets of California-Based James LasCola Insurance Services

Navion Insurance Associates has acquired the assets of Laguna Hills, Calif.-based James LasCola Insurance Services. Terms of the deal were not disclosed. LasCola’s leadership team will join Navion Insurance Associates. James LasCola will remain a part of the transition and …

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Burnham Benefits Names Medina Account Executive in California

Burnham Benefits Insurance Services Inc. has named Mirna Medina an account executive in the Los Angeles, Calif. office. Medina will help accelerate growth and strengthen the delivery of Burnham’s employee benefits capabilities. Medina was previously senior client manager at Arthur …

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Tornadoes, Flooding From Severe Storms Cause Damage, Deaths in Appalachia

The death toll rose to at least five on Sunday after severe thunderstorms swept through the central U.S., spawning a tornado that flattened homes, gale force winds and widespread flooding from the Upper Midwest to Appalachia. The system that stretched …

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Flooding Along Ohio River Expected to Continue

Forecasters expect flooding to persist through the week in the Cincinnati region, and authorities said Monday that will hinder efforts to assess damage. The National Weather Service said the Ohio River crested Sunday at around 60.5 feet (18.4 meters) and …

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Iowa Town: Flammable Stover at DowDuPont Plant Cause of Concern

Public safety officials are concerned about up to 500,000 bales of flammable stover that are stored across central Iowa and will be left over after a cellulosic ethanol plant is sold. The newly merged DowDuPont is selling its $225 million …

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Weather Service Confirms 2 Weekend Tornadoes in Arkansas

The National Weather Service says two tornadoes struck northeast Arkansas during the weekend, including one that killed a man before moving into southeast Missouri. The weather service says an EF-2 tornado with winds of up to 115 miles per hour …

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South Dakota’s Pine Ridge Duplex Explosion Draws Another Lawsuit

Another lawsuit has been filed over a duplex explosion that killed four people on the Pine Ridge reservation. The lawsuit filed in Oglala Lakota County Court this month on behalf of 13 plaintiffs names Nebraska-based Western Cooperative Company and South …

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NTSB Investigating Deadly Dallas House Explosion

Federal investigators arrived in Dallas Sunday to look into a suspected natural gas leak that caused an explosion at a newly renovated house, killing a 12-year-old girl and injuring four other members of her family. Ravi Chhatre, head of a …

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Church Mutual Subsidiary OK’d to Do Business in Arkansas

CM Select Insurance Co. of Merrill, Wisconsin, has been approved to do business in Arkansas, the state insurance department reported. CM Select is a subsidiary of Church Mutual Insurance Co. (CMIC), which specializes in insuring churches and religious institutions. CMIC …

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Avoiding Post-Brexit Chaos in Insurance Market Is Top Concern of Bank of England

Avoiding chaos in the insurance market due to Britain’s European Union exit is a top Bank of England priority and making sure cross-border contracts continue to pay out after Brexit is a major concern, its deputy governor Sam Woods said. …

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Allianz Investment Unit Provides Funding for Fintech Startup C2FO

Financial technology startup C2FO raised $100 million in funding in a new round led by the investing arm of global insurance and asset management giant Allianz SE as well as Abu Dhabi’s Mubadala Investment Co. With Tuesday’s announcement, C2FO has …

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University of Alaska Data Breach Hits Staff, Students

Officials say a data breach at the University of Alaska has impacted dozens of current and former employees and students. KTVA-TV reported that a university statement says security officials first started looking into the breach when problems arose with password-protected …

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Las Vegas Homeowners Association Ordered to Pay $20M for Faulty Swing Set

A jury says a Las Vegas, Nev. homeowners association must pay a man $20 million after a swing set collapsed on him as a teen and left him with brain damage. A Clark County District Court jury returned the verdict …

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Tribes Left out of California Marijuana Pondering Growing Their Own

American Indian tribes that say they have been cut out of California’s legal marijuana market have raised the possibility of going their own way by establishing pot businesses outside the state-regulated system that is less than two months old. The …

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Facebook Settles Shareholders’ Claims Over 2012 IPO

Facebook Inc and Chief Executive Mark Zuckerberg have reached a $35 million settlement of class-action litigation accusing them of hiding worries about the social media company’s growth prior to its May 2012 initial public offering. The settlement was filed on …

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20 States Sue, Claiming Obamacare Unconstitutional Since Individual Mandate Repeal

A coalition of 20 U.S. states sued the federal government on Monday over Obamacare, claiming the law was no longer constitutional after the repeal last year of its requirement that people have health insurance or pay a fine. Led by …

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Broker Lockton Joins Chubb, MetLife in Withdrawing from NRA Insurance Programs

Insurance broker Lockton is ending its participation in an insurance program for members of the National Rifle Association, joining MetLife, United Airlines and other companies that have been canceling their business affiliations with the gun owners’ organization. Lockton has been …

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XL Catlin Launches Protect & Assist in Australia

XL Catlin has launched Protect and Assist, an accident and health insurance solution designed to help Australian businesses protect their people and meet their duty of care in the face of emerging risks and heightened security threats. Protect and Assist …

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PERILS Releases Final Loss Estimate of €248M for Cyclone Thomas/Doris

Extratropical cyclone Thomas, also known as Doris in the UK and Ireland, had an insured price tag of €248 million ($305.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final insured …

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Vermont Agency is Newest Addition to Satellite Agency Network Group

Neshobe Falls Insurance Agency recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. Neshobe Falls Insurance is a full-service insurance agency founded in 2017 that provides all lines of personal and commercial …

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Willis Towers Watson Appoints Seaborg to Public Entity Practice in Maryland

Willis Towers Watson, a global advisory, broking and solutions company, has appointed Eric Seaborg as a client advocate for its public entity practice within its education department. Seaborg will be based in the company’s Hunt Valley, Md., office in his …

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Woman Pleads Guilty to Embezzling $1.1M from Connecticut Car Dealership

A former employee of a luxury Connecticut car dealership has pleaded guilty to stealing more than $1 million from the business. Federal prosecutors say 50-year-old Vanessa Vence-Small, of New Windsor, New York, waived indictment and pleaded guilty to wire fraud. …

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Officials Say Massachusetts Trolley Driver Paid Man $2K to Attack Him on Job

Authorities say a Massachusetts trolley driver paid a man $2,000 to attack him while wearing a Halloween mask so the driver could fraudulently collect workers’ compensation and disability insurance. A Suffolk County grand jury indicted Thomas Lucey on charges of …

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Papua New Guinea Quake Kills at Least 14; ExxonMobil Shuts $19B LNG Plant

Up to 14 people were killed in landslides and by collapsed buildings during a powerful earthquake in the remote Papua New Guinea highlands, police and a hospital worker said on Tuesday, with unconfirmed reports of up to 30 dead. The …

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Bank of England Will Not ‘Go Soft’ on Enforcing EU Solvency II Capital Rules

The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, although it will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor Sam Woods …

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Appeals Court Rules Firing Over Sexual Orientation Is Illegal

Gay workers and their corporate supporters won a legal victory over the Trump administration as a federal appeals court ruled that firing people over their sexual orientation is a form of illegal sex discrimination. The appeals court in Manhattan overturned …

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Record Number of Californians Applied for Earthquake Retrofit Grants

The Earthquake Brace + Bolt program closed its latest registration with more than 7,500 California homeowners applying for 2,000 retrofit grants. The EBB, funded primarily by the California Earthquake Authority, closed registration on Friday. The CEA reported the turnout on …

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EPIC Adds Edwards, Palmer to Risk Management Team in Houston

San Francisco-based EPIC Insurance Brokers and Consultants, has added veteran Maurice (Moe) Edwards and Walter Palmer to its team of risk assurance and asset protection professionals in Houston. This new national practice will operate as EPIC Integrated Risk Solutions with …

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Home Improvement, Imposter Scams Top Iowa 2017 Complaint List

While home improvement troubles topped the list of complaints consumers filed with the Iowa Attorney General’s Consumer Protection Division in 2017, followed by imposter scams, insurance still made it into the top 10, the AG’s office announced. Out of approximately …

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Corps Says Agency Did Work to Inform Public on Harvey Flood Risk

The U.S. Army Corps of Engineers said on Feb. 23 that leading up to and during Hurricane Harvey it “worked diligently” with officials to inform the public on flooding risks from Houston reservoirs that ended up inundating thousands of homes. …

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Iowa Father and Son Sentenced in Grinnell Mutual Insurance Fraud Case

A father and son were sentenced in early February in a case involving insurance fraud perpetrated against Grinnell Mutual Reinsurance Co., the Iowa Insurance Division reported. Richard H. Hartman, age 69, of Manchester, Iowa, and Tobin L. Hartman, age 44, …

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Outlooks Revised to Positive for Louisiana Farm Bureau Mutual

A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Louisiana Farm Bureau Mutual Insurance Co. (Louisiana Farm Bureau) in Baton …

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Ratings Assigned to Wisconsin’s JM Specialty Insurance

A.M. Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” to JM Specialty Insurance Co. (JMSI) in Neenah, Wisconsin. The outlook assigned to these Credit Ratings (ratings) is stable. These ratings …

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Oregon Court Upholds $60K in Damages for Woman With Service Dogs

The Oregon Court of Appeals upheld a ruling that the owner of a Eugene convenience store must continue to pay damages to a woman who was refused entry with her two service dogs. The Oregonian/OregonLive reported the court upheld the …

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California Looking for Balancing Act for Harassment Discipline

California Sen. Tony Mendoza’s resignation this week spared his fellow lawmakers from a difficult decision about appropriate punishment after an investigation found he likely engaged in flirtatious and sexually suggestive behavior with a half-dozen women. But the Legislature’s reckoning with …

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Report: Los Alamos Workers Exposed by Lapses in Handling of Toxic Metal

A new federal report says Los Alamos National Laboratory violated regulations to protect workers from exposure to a metal that can cause lung disease and cancer. The Energy Department inspector general’s report says the nuclear weapons lab didn’t properly track …

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Maintenance Issues Led to Hawaii Helicopter Crash, Federal Report Shows

A Hawaii tour helicopter was not properly maintained when it crashed into waters near Pearl Harbor two years ago, according to a federal report. The final report from the National Transportation Safety Board indicated that increased inspections by the Federal …

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How to Change Teens’ Attitudes on Drinking in 40 Seconds

Alcohol is frequently featured in entertainment media targeting teenagers, but can a simple message alter their attitudes about drinking? According to research from a professor at American University, the answer is yes. Cristel Russell, an associate professor at the university’s …

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BMW to Recall 11,700 Cars to Fix Engine Management Software

German carmaker BMW said on Friday [Feb. 23] it would recall 11,700 cars to fix their engine management software after it discovered that the wrong programming had been installed on its luxury 5- and 7-Series models. “In the course of …

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D&O Insurers Warned on Competitive Pricing, Troubling Claims Trends

Property/casualty insurers in the directors and officers (D&O) liability insurance market may find it more difficult to maintain underwriting performance in 2018 than in recent years, according to Fitch Ratings, as market pricing remains highly competitive and claims trends are …

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Workers’ Comp Losses Could Mean Savings for Maine Businesses

Maine businesses could save as much as $27 million this year thanks to a projected decline in workers’ compensation insurance claims. Maine Superintendent of Insurance Eric Cioppa said he approved a 12 percent average decrease in expected workers’ compensation loss …

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Markel Corporation Hires Hungate-Noland in Virginia

Markel Corporation has hired Beth Hungate-Noland as a managing director. In this role, Hungate-Noland will join the team at Markel that is responsible for oversight of the company’s Markel Ventures operations and will be based out of Markel Corporation’s headquarters …

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New Jersey City, Electrical Inspector Not Liable in Multi-Unit Home Fire Lawsuit

The Supreme Court of New Jersey has ruled a city and its electrical inspector are not liable for claims resulting from a fatal fire within a multi-unit home that was allegedly caused by faulty wiring. The court stated in its …

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NBA Opening Hotline for Reporting Workplace Issues

The NBA is establishing a confidential hotline for league and team employees to report concerns about misconduct in their workplace. The move comes after a Sports Illustrated report that described a hostile environment for women in the Dallas Mavericks organization. …

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Quake in Papua New Guinea Leads Exxon to Shut Production, Processing

Exxon Mobil Corp. has shut production platforms and a processing plant in the highlands of natural gas exporter Papua New Guinea after an earthquake struck the Pacific nation. The U.S. oil giant closed the facilities to assess damage from a …

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UK Invests in Natural Disaster Hedge Fund Focused on Insurance in Developing Nations

Britain is backing a hedge fund that aims to raise $200 million to give developing countries access to climate risk insurance. Britain’s Department for International Development (DFID) is investing 25 million pounds ($35 million) over a 20-year period in the …

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Puerto Rico Governor Orders Review of Hurricane Death Count

Puerto Rico’s governor has announced that a team of experts at George Washington University will lead an independent, in-depth review to determine the number of deaths caused by Hurricane Maria amid accusations that the U.S. territory has undercounted the toll. …

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Europe Regulator Proposes Hacking, Geo-Awareness Protections for Drones

Europe’s aviation safety authority has proposed anti-hacking measures and geo-awareness technology for small drones to avoid collisions with aircraft or people, taking an important step toward Europe-wide regulation. The reworked proposal published by the European Aviation Safety Agency (EASA) on …

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Global Directors Beware: Are You Ready for EU’s Data Protection Regulation?

On May 25, 2018, the European Union (EU) General Data Protection Regulation (GDPR) will go into effect in the 28 EU member states. Companies, the world over, are now rushing to meet the deadline for compliance but how many will …

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Zurich Acquires QBE’s Latin American Operations for US$409M

Zurich Insurance Group has entered into an agreement to acquire the operations of Australian insurer QBE Insurance Group Ltd. in Latin America for a total aggregate price of US$409 million, subject to closing adjustments. The transaction, which is subject to …

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Cyber Attacks Pose Greatest Threat to UK Businesses, Investors: PwC Survey

Investors and chief executives say cyber attacks pose the greatest threat to businesses operating in the U.K., outweighing other material risks including populism, trade protectionism and over-regulation, according to PricewaterhouseCoopers LLP. An annual survey carried out by the accountancy firm …

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China’s Anbang ‘Committed’ to Overseas Units After Government Takeover

Anbang Insurance Group Co Ltd. said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company and remains committed to the development of its overseas subsidiaries. These are the first comments by Anbang …

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PEMCO in Washington Names Simonson Learning and Development Manager

PEMCO Insurance in Washington has added Curt Simonson to the carrier’s people and brand team as the department’s learning and development manager. Simonson’s responsibilities include managing employee training programs and leadership development strategies, with a focus on creating opportunities for …

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Do You Need Non-Owner Car Insurance?

Don’t own a car? You might still need to own an auto insurance policy. Called non-owner auto insurance, this kind of coverage can be a good idea and, in some states and circumstances, even required. Non-owner car insurance is a unique po...

from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles

How Much Will Your Auto Insurance Rates Go Up After an Accident?

It’s common knowledge that if you’re in an auto accident and file a claim your insurance rates are likely to go up. Many people decide not to report minor damage in fear of seeing their rates skyrocket. According to one report, if...

from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles

Chubb Decided to Quit NRA Insurance Program 3 Months Ago

Giant insurer Chubb has joined a list of companies that are halting business deals with the National Rifle Association (NRA). However. the insurer confirmed to Insurance Journal that the decision was made several months ago, before the latest mass shooting …

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Rivers Still Rising in Midwest; Evacuations Continue

Shelters have been opened to assist people forced from their homes by flooding in the Midwest, as rivers swollen by heavy rain and melting snow continue to rise in Indiana, Michigan and other states. Flood warnings were in effect across …

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Records: Corps Failed to Release Harvey Flood Prediction to Public

The U.S. Army Corps of Engineers predicted ahead of Hurricane Harvey’s arrival that reservoirs in Houston would fill to record levels, flooding adjacent neighborhoods, but never shared the concern with the public, government records reveal. A Corps forecast on Aug. …

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Texas’ Combined Agents of America Adds 3 New Agencies

Austin, Texas-based Combined Agents of America LLC, has added three new partner agencies to its network. The latest additions are: Patterson & Associates Insurance in Richardson, Texas; NP Dodge Insurance in Omaha, Nebraska; and Ryder Rosacker McCue & Huston Insurance …

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Visa’s Kereere Joins Board of Grange Mutual Casualty

Suzan Kereere has joined the board of directors at Columbus, Ohio-based Grange Mutual Casualty Co. Kereere heads both the European Merchant Sales & Solutions team and the Global Merchant Accounts team at Visa. There, she leads a group that helps …

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Fareway Chicken Salad Produced at Iowa Processing Plant Recalled

The federal government issued a recall of chicken salad made by an Iowa processing company and distributed by Fareway Stores which has now sickened more than 100 people in five states and prompted lawsuits in Illinois, Iowa and South Dakota. …

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Texas Appeals Court Upholds $351M Award Against Credit Suisse

Credit Suisse said it would fight on after a Texas appeals court upheld a $351 million award against the Swiss bank over its role in a Las Vegas resort project whose finances collapsed a decade ago. The Texas Court of …

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Private School System in Hawaii Schools Agrees to Pay $80M to Abuse Victims

A private school system in Honolulu, Hawaii has agreed to pay $80 million to the victims of a doctor accused of sexually abusing students and other patients for decades. Kamehameha Schools has also agreed to create new safeguards and methods …

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Hershey’s in Trademark Battles with California Marijuana Businesses

Cannabis businesses, beware: The Hershey Co. is on the warpath. Perhaps the most famous confectionery peddler in the world has a well-documented history of actively protecting its trademarks, and the marijuana industry is no exception. Although Hershey’s has been relatively …

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Damage Claim Filed in Washington Over Ex-Mayor Abuse Allegations

The former foster son of ex-Seattle Mayor Ed Murray has filed a claim for damages against the city, saying that last year it negligently failed to investigate his and other men’s allegations that Murray sexually abused them decades ago. The …

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CEO Says Swiss Re Open to Anchor Shareholder After Softbank Inquiry

Swiss Re AG’s chief said the reinsurer would welcome an anchor investor after being approached by billionaire Masayoshi Son’s SoftBank Group Corp. In a business where results can change radically from one year to the next, “it’s not a bad …

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Q&A on China’s Takeover of Giant Anbang Insurance

The once-mighty Anbang Insurance Group Co. has been temporarily taken over by China’s regulators and its boss is facing prosecution on charges including fundraising fraud and embezzlement. Anbang’s meteoric rise was fueled by surging sales of high-yield products, which helped …

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NTSB: Truck Hit by GOP Train in Virginia Was on Tracks After Warning

Witnesses told investigators that a garbage truck struck by a train carrying Republican congressmen through rural Virginia entered the railroad crossing after the safety gates had come down, the National Transportation Safety Board said in a preliminary report released Wednesday. …

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Pennsylvania Couple Loses Home in Mudslide

A Pennsylvania couple has lost their home in a mudslide, and they say their insurance company likely won’t cover the damage. Lynn Eash says she was inside her Johnstown, Penn., home when she heard a loud cracking noise. She ran …

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Pennsylvania’s Erie Insurance Appoints Kaercher as Corporate Marketing Officer

Erie Insurance, an Erie, Penn.-based automobile, homeowner’s, life and business insurer, has appointed Kim Kaercher as corporate marketing officer with oversight of Erie’s marketing strategy and functions. Kaercher’s background spans advertising, marketing, communications, program management and strategy development. Before coming …

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Home Security Camera’s Face Recognition Even Knows Family Dog

A team of engineers that worked on self-driving cars and helped invent Google Street View wants to help people guard their homes against intruders using the same style of facial recognition that unlocks smart phones. Lighthouse AI, their startup, on …

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China Seizes Control of Anbang; Dealmaking CEO to Be Prosecuted for Fraud

China’s government will seize temporary control of Anbang Insurance Group Co. and prosecute founder Wu Xiaohui for alleged fraud, cementing the downfall of a politically connected dealmaker whose aggressive global expansion came to symbolize the financial overreach of China’s debt-laden …

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Drone Segment Will be Biggest Growth in Aviation Insurance in 50 Years, Experts Say

Now’s the time to get in on the ground floor of the business of insuring drones. That’s according to panel of experts speaking recently in a drone insurance webinar hosted by Insurance Journal. The consensus from the panelists was that …

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Dallas Mavericks Investigating Allegations of Hostile Workplace, Harrassment

The Dallas Mavericks have hired outside counsel to investigate allegations of inappropriate conduct by former team president Terdema Ussery in a Sports Illustrated report that described a hostile workplace for women. Ussery was accused of making sexually suggestive remarks to …

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HDI Adds to U.S. Engineering, Construction Divisions

HDI Global SE has appointed John Schossler has been appointed assistant vice president, Casualty Construction manager, based in Chicago. Schossler will lead all efforts in the development of this segment by cultivating deeper relationships with producers and accelerating HDI’s market …

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Huck Named VP of Fidelis Group Holdings’ Marine Division in Houston

Fidelis Group Holdings LLC (FGH), with its subsidiary Continental Underwriters Ltd., has hired Darrin Huck as vice president of its Marine Division. He is based in Houston. Huck serves as a senior underwriter within the group’s Brown Water Hull, Liabilities …

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Midwest Battered by Deadly, Damaging Storms

Sandbags were holding back floodwaters in parts of Michigan as a storm system moved across several Midwest and Great Plains states on Wednesday, bringing heavy rain, snow and ice to the region. The weather has already been blamed for hundreds …

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Worker’s Death on Gulf Platform Subject of Federal Probe

Federal regulators are investigating the weekend death of a worker on an oil production platform in the Gulf of Mexico. The contractor was removing out-of-service fire suppression equipment when he was fatally injured on the offshore platform Saturday, according to …

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Survey: Minnesota’s Increase in Uninsured Led by Drop in Private Coverage

The number of Minnesota residents without health insurance jumped by 116,000 in the past two years, the state Department of Health said. A biennial survey by the department and the University of Minnesota School of Public Health found that the …

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XL Catlin Names Thyme as Director of Emerging Markets Development

XL Catlin has appointed Claudia Thyme to the role of director, Emerging Markets Development. In this role, Thyme will contribute to XL Catlin’s emerging market strategies, with a particular focus on Latin America. Thyme has 20 years’ experience in the …

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Law Enforcement Officers 3 Times More Likely to Be Injured Than Other Workers

An estimated 669,100 law enforcement officers were treated in emergency departments across the nation for nonfatal injuries between 2003 and 2014, according to a study by researchers at the National Institute for Occupational Safety and Health (NIOSH). Law enforcement officers …

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UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017

Even higher payouts for RSA shareholders are likely in 2018, chief executive Stephen Hester said on Thursday after the company posted an above-forecast 2017 operating profit and boosted its dividend by 23 percent. Analysts had been looking for a special …

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Alaska Governor Wants $10M for Seismic Surveying

Gov. Bill Walker’s administration has asked the Alaska Legislature for permission to spend $10 million on seismic surveying in the coastal plain of the Arctic National Wildlife Refuge. The seismic survey funding was included last week in a supplemental spending …

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California Law Preventing Actor Ages from Being Posted Struck Down

A California law that sought to prevent age discrimination in the entertainment industry by blocking a popular Hollywood website from posting the ages of actors was struck down Tuesday as unconstitutional. U.S. District Court Judge Vince Chhabria in San Francisco …

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UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ

British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a license to establish …

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How Insurance Agencies Fared in Q4

Insurance agencies and brokerage firms ended 2017 with gains in organic growth and profitability in the fourth quarter. The 175 midsize and large agencies and brokerages participating in Reagan Consulting’s Organic Growth and Profitability (OGP) Survey reported overall growth. Agency …

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Ryan Specialty Group to Acquire New Jersey’s New Day Underwriting Managers

Ryan Specialty Group LLC (RSG) has reached a definitive agreement to acquire the assets and operations of New Day Underwriting Managers LLC (New Day), a specialty intermediary with offices in Hamilton, N.J. New Day will become part of R-T Specialty …

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Bipartisan Momentum Building in Congress for Cryptocurrency Regulations

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in …

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Demarco Joins Maritime Program Group’s Private Client Division

Connecticut-based marine insurance program manager Maritime Program Group has hired Michael Demarco as senior underwriter in its Private Client Services division. MPG’s Private Client Services division specializes in high-net worth and hard-to-place personal lines placements due to location or loss …

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After Poor Results, Greenlight Re ‘Repositioning,’ Entering New Classes of Business

Hedge fund manager David Einhorn said a shift in favor of value stocks may soon be coming even after his firm posted its worst underperformance in almost two decades. “While we’ve never underperformed like this, our prior worst underperformance compared …

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New Jersey Fire Destroys Squad’s Five Ambulances, Causes $2M in Damage

A fast-moving fire has gutted an ambulance squad’s building in New Jersey, destroying five ambulances and causing at least $2 million in damage. The fire at the American Legion Ambulance Association in Woodstown, N.J., broke out early Monday and was …

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Amtrak: NJ Transit Trains Could Be Banned from New York

Amtrak could prevent New Jersey Transit trains from entering New York if NJ Transit doesn’t finish installing positive train control. Amtrak President and CEO Richard Anderson told a House subcommittee that Amtrak is worried passengers are being put at risk …

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Risk Strategies Acquires New York City’s Prosurance Redeker Group

Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired New York City-based Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers. Terms of the deal were not disclosed. Formed in 1991 …

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AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO

French insurer AXA posted higher-than-expected 2017 net profits and stronger earnings in the United States, ahead of the planned flotation of its American life insurance and asset management businesses in the second quarter this year. AXA, which ranks as Europe’s …

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CAL Insurance Names Coffey Account Manager in California

CAL Insurance & Associates Inc. has named Aletha Coffey an account manager on its commercial lines team. Coffey was previously a commercial account executive with GS Insurance Solutions. She was a marketing representative for BizInsure before that. CAL Insurance is …

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First Surety Bond Program for California Cannabis Industry OK’d

California Insurance Commissioner Dave Jones has approved the first surety bond program for the cannabis industry in the California. Continental Heritage Insurance Co. is the first insurer in the state to be approved to offer surety bonds for the cannabis …

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Brown Tapped to Chair Oklahoma Senate Insurance Committee

Oklahoma state Sen. Bill Brown will serve as the chair of the Senate’s Pensions, Retirement and Insurance Committee for the 2018 legislative session. Other members of the committee are Vice Chair Marty Quinn, Sen. James Leewright, Sen. Lonnie Paxton, Sen. …

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Businesses Closed After Historic Ohio Building Collapses

A historic building has collapsed in Ohio, leading officials to close nearby businesses until it is stabilized or torn down. Medina Fire Chief Bob Painter says the back canopy of the three-story Medina building collapsed Sunday during the town’s Ice …

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Arkansas Governor Says Special Session on Pharmacy Rates Possible

Arkansas Gov. Asa Hutchinson says he’ll call a special legislative session to address reimbursement rates for pharmacies and to amend the state’s open container law if there is consensus among lawmakers on the proposals. Legislative leaders have asked for a …

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New Program for Pet Services Professionals Available From Acadia Insurance

Acadia Insurance, a Berkley Company, is now offering specialized coverage beyond what is typically covered in a standard business owner policy for pet-focused businesses including: Kennels and daycare Pet groomers Pet trainers Veterinarians and pet hospitals Pet stores Pet food …

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Wisconsin Tweaks Pricing for Dairy Insurance Program

Wisconsin lawmakers have tweaked a federal price insurance program following criticism from dairy farmers. The La Crosse Tribune reports that the Margin Protection Program for Dairy allows farmers to buy insurance that pays out when the cost to produce milk …

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3M Settles Minnesota Scotchgard Lawsuit for $850 Million

3M Co. has settled a lawsuit with Minnesota’s Attorney General Lori Swanson for $850 million, putting an end to eight years of litigation over a former Scotchgard ingredient that got into the state’s drinking water. The funds will be used …

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Rubel Joins Myron Steves as Chief Underwriting Officer, Commercial Line

Houston, Texas-based managing general agent and insurance wholesaler, Myron F. Steves and Co., has added Greg Rubel as chief underwriting officer, commercial lines. Rubel will lead the Texas-based company’s commercial lines operations and be a member of the Myron Steves …

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Personal Insurance Site Gabi Raises $9.5 Million; Now Selling in 6 States

San Francisco-based personal insurance shopping site Gabi has raised $9.5 million in Series A funding, led by Canvas Ventures. Also joining the round are Correlation Ventures, Northwestern Mutual Future Ventures, Securian Ventures and prior investors Capital Ventures and Project A. …

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California Marijuana Growers Lagging in Getting Licenses, New Report Shows

Nearly two months after recreational marijuana became legal in California, less than 1 percent of the state’s known growers have been licensed, according to a report released by a pot industry group. The 38-page report from the California Growers Association …

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Report: MTA Knew Baltimore Metro Violated Standards in 2016

A Maryland Transit Administration report says the agency knew Baltimore Metro’s subway rails didn’t meet safety standards in 2016, more than a year before it declared an emergency shutdown. The Baltimore Sun cites a 2018 MTA report that says 17 …

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Bonding Awarded to Launch Crumbling Foundations Entity in Connecticut

A Connecticut panel has awarded funding to launch a new not-for-profit insurance company that will manage state dollars that will help homeowners with crumbling foundations. The State Bond Commission approved $350,000 Friday in start-up money for the Connecticut Foundations Solutions …

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Travelers Taps Gifford for New Chief Data and Analytics Officer Position

The Travelers Companies has named Bruce Gifford to the newly-created role of enterprise chief data and analytics officer to further strengthen the company’s data and analytics capabilities. Gifford previously served as senior vice president and chief actuary for the company’s …

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Study Finds Teen Drivers Ignore Texting Bans; Urges Bans on Hand-held Calls

State laws banning hand-held cellphone calls while driving can be effective in reducing teens’ hand-held conversations while driving, but texting bans are not effective in reducing texting while driving, according to a new study. The study, led by the Center …

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New Jersey’s Innovative Coverage Concepts Appoints Eighmy as Director of Claims

Innovative Coverage Concepts LLC (ICC), a Parsippany, N.J.-based national wholesale broker and managing general agency (MGA), has appointed Brian L. Eighmy as director of claims. Eighmy has 20 years of experience in claims management, including in senior leadership positions at …

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Trump Administration Encourages More Short-Term, Cheaper Health Plans

The Trump administration is proposing to expand the availability of short-term insurance plans, offering a cheaper health coverage option for consumers, while taking another step to undercut Obamacare. The Department of Health and Human Services proposed allowing short-term plans to …

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Pennsylvania’s V3 Insurance Partners Names Janitschke Chief Operating Officer

V3 Insurance Partners LLC, a Newtown, Penn.-based specialty insurance program administrator, has named Brian Janitschke chief operating officer. He will be based in V3’s Newtown offices. Janitschke began his insurance industry career as an assistant actuary at the St. Paul …

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Everest Specialty Expands Private Company Financial Lines Team

Everest Insurance has expanded the financial lines division of Everest Specialty Underwriters (ESU ), naming five professionals to its new Private Company/Not-For-Profit unit. The Private/NFP team is targeting small, middle and large private/not-for-profit companies and organizations on a primary and …

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AXA to Sell Non-Life Operations in Azerbaijan

AXA announced it had entered into an agreement with Mr. Elkhan Garibli to sell all AXA’s insurance operations in Azerbaijan. Under the terms of the agreement, Garibli would acquire 100% of the non-life entity (AXA MBask Insurance Company OJSC). The …

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SMEs Underestimate Cyber Risks Which Could Prove ‘Fatal’: Allianz Report

Small- and medium-sized enterprises are waking up to the realities of cyber risks but still underestimate their exposures, which could prove catastrophic for some, according to a report published by Allianz Global Corporate & Specialty (AGCS). For medium-sized companies with …

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U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting

The U.S. Supreme Court on Tuesday declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order requiring the insurer to reduce its homeowner insurance rates …

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Woodruff-Sawyer in California Names Johnston Vice President of Aviation

San Francisco, Calif.-based Woodruff-Sawyer & Co. has named Drew Johnston vice president of aviation. Johnston will develop the strategy and steer the growth of the newly formed aviation practice, which will focus on insurance and risk management solutions for the …

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Safeco to Take Up Mapfre’s Tennessee, Kentucky, Indiana Business

MAPFRE Insurance, which last year decided to exit five states and focus on 11, is turning over its personal lines business in three of the five states it is leaving to Safeco Insurance, a Liberty Mutual unit. MAPFRE has agreed …

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Leavitt Group Adds Field Waldo’s Esper in Idaho

Leavitt Group of Boise, Idaho is has named Rosie Esper as a personal insurance agent. Esper focuses on home and auto insurance for families and individuals. Esper has been in the insurance industry since 2012 and has 12 years of …

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Flooded Out North Dakotans Offered Incentives to Buy New Homes

Minot residents whose homes were damaged by the 2011 Souris River flooding or are being bought out for flood protection might be eligible to up to $60,000 for help purchasing another home. The flood damaged or destroyed more than 4,000 …

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Judge Say Administrators Not Liable for Ohio School Shooting

Five former administrators at a northeastern Ohio school district where three high school students were fatally shot and a fourth permanently disabled are not liable for the shootings six years ago, a judge presiding over a lawsuit filed on behalf …

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Lawyer: 13-Year-Old Oil Leak Off Louisiana Coast a ‘Long-Term Problem’

A 13-year-old oil leak in the Gulf of Mexico remains a “long-term problem” without a clear solution for eliminating chronic slicks that often stretch for miles off Louisiana’s coast, a government lawyer recently told a federal judge. Up to 16 …

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Kansas House Panel Rejects Earthquake-Prevention Bill

A Kansas House committee has rejected a bill that was designed to prevent earthquakes that experts say are caused by oil and gas production wastewater disposal methods. The Sierra Club and several Kansas residents who say their homes were damaged …

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Hamilton Underwriting Reorganizes Lloyd’s Underwriting Team

Hamilton Underwriting Ltd., the managing agency of Syndicate 3334 and the Lloyd’s operations of Bermuda-based Hamilton Insurance Group, announced the details of a reorganization of its underwriting team. Pending approval from Lloyd’s, the following promotions will take effect: Head of …

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Texas Mutual Hires Redpoint’s Siddons as VP, Business Development

Austin-based workers’ comp insurer, Texas Mutual Insurance Co., has added Benjamin A. Siddons as vice president of business development. Siddons joins Texas Mutual with more than 15 years of experience in the insurance industry, with seven of those in the …

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Monsanto Loses Bid to Stop Arkansas Ban on Herbicide Dicamba

An Arkansas judge has dismissed a Monsanto Co. lawsuit aiming to stop Arkansas from blocking the use of a controversial farm chemical the company makes, dealing a blow to its attempts to increase sales of genetically engineered seeds. Monsanto, which …

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California Construction Workers Injured in Elevator Shaft Fall

Authorities say four construction workers were hurt, three critically, after plunging 30 feet down an elevator shaft at an unfinished Los Angeles building. The Fire Department says the men were working on a five-story building in North Hollywood when they …

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Washington Wheat Farmers Oppose Proposed Trump Budget Cuts to Crop Insurance

Washington state wheat farmers are protesting cuts to their safety net programs in a budget proposal released by President Donald Trump this week. The Spokesman-Review review reports growers are concerned about Trump’s proposal to reduce federal spending on crop insurance …

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Former Colorado Police Officer Sentenced for Defrauding Homeowners Insurer

A former Colorado police officer has been sentenced to 45 days in jail and five years of probation for felony insurance fraud. The Post Independent reported that ex-Silt police Col. Michael Taylor was also ordered to pay more than $70,000 …

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Wyoming Bill Seeking Prison for Deadly Texting While Driving Fails

Lawmakers in the Wyoming House have voted down a bill that would have meant prison time for drivers who cause a deadly wreck while texting on their phones. Texting while driving in Wyoming currently is a misdemeanor punishable by a …

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Lloyd’s Market Association Launches Claims Development Training Tool

The Lloyd’s Market Association (LMA) has launched the Claims Development Pathway, an interactive training and development tool that will provide support to claims professionals in the Lloyd’s market, at every stage of their careers. Modernizing claims handling at Lloyd’s is …

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Prosecutors Say New Jersey Diner Owner Paid Friend to Burn It Down

Prosecutors say a New Jersey diner owner hired his friend to burn it down last month so he could collect on an insurance claim. Thomas Giannisis, a 51-year-old Bellmawr resident who owned the Country Town Diner in Berlin, and 56-year-old …

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New York’s The Iroquois Group Promotes McKay to Regional Vice President

The Iroquois Group, an Allegany, N.Y.-based service provider for independent property and casualty insurance agencies, has promoted Kevin McKay to regional vice president of its Northeast region. McKay is a Londonderry, N.H.-based, 30-year industry veteran who served as a producer …

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Insurance Industry Hiring Stabilizes; Key Jobs Remain Difficult to Fill: Study

Fifty-eight percent of insurance companies plan to increase staff during the next 12 months in part due to expected increase in business and new markets, according to the Semi-Annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and …

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Brown & Brown of New York Acquires the Assets of New York’s yourPFO Consulting

Brown & Brown of New York Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Purchase, N.Y.-based yourPFO Consulting LLC (yourPFO). yourPFO represents many large company clients in the design and implementation of …

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The Cost of Cyber Attacks to U.S. Economy

Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday. The estimate comes in a Council of Economic Advisers report on the impact of cyber attacks on U.S. government and …

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AXIS’ A.M. Best Ratings Revised to Negative; Insurance Arm Blamed

AXIS Capital Holdings’ money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its performance. “The revised outlooks are based on unfavorable trends in the …

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Growing Number of Firms Sell Telematics Data, Including Israeli Startup Otonomo

The road to profits is paved with good data. Every hour, a modern car processes about 25 gigabytes of information — the equivalent of about seven full-length high-definition movies — on everything from engine temperature and tire pressure to what’s …

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India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System

India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial platform. The comments come after the small private lender on …

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What 11 Top Executives Think About Insurance Careers

The third annual Insurance Careers Month kicked off with the annual Insurance Careers Movement (ICM) Town Hall on Feb. 1 in Chicago. Co-hosted by A.M. Best and ICM, the virtual event assembled executives from companies around the world. Since 2016, …

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The Hartford to Acquire Foremost’s Commercial Lines Business

The Hartford has agreed to acquire Foremost Insurance branded small commercial lines business from Farmers. The Hartford is acquiring the renewal rights on $200 million in small commercial lines premium sold through about 5,000 independent agents and brokers. The business …

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Aspen Ceases Underwriting Property Insurance from Bermuda Platform

Aspen Insurance Holdings confirmed on Friday, Feb. 16 that it has ceased underwriting property insurance on its Bermuda platform, effective immediately, as a result of the company’s 2017 catastrophe losses. The move was made in response to CEO Chris O’Kane’s …

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Texas Petro-Chemical Contractor Sued for Disability Discrimination

A blood disorder led to the unlawful firing of three laborers at a Texas-based petro-chemical contractor, federal officials say. the U.S. Equal Employment Opportunity Commission (EEOC) has charged in a lawsuit that Signature Industrial Services LLC (SIS) unlawfully fired the …

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Detroit Suburb Settles Fatal Police Shooting for $1.25M

A Detroit suburb agreed to a $1.25 million settlement in a lawsuit filed by the family of a woman who was fatally shot by police near a shopping mall, according to a document released on Feb. 15. A Dearborn officer …

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Consumers Warned of Hepatitis Exposure at Arkansas Restaurant

State health officials say people who visited a Taco Bell restaurant in northeast Arkansas may have been exposed to hepatitis A after an employee tested positive for the virus. The health department says the affected restaurant is in Corning, about …

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Associated Benefits and Risk Acquiring Wisconsin’s Diversified Insurance

Associated Benefits and Risk Consulting (ABRC) announced it will acquire Diversified Insurance Solutions (Diversified), based in Milwaukee, Wisconsin. The transaction is expected to close next month. Terms of the transaction were not disclosed. Based in Green Bay, Wisconsin, ABRC is …

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Former Texas Agent Gets Life Sentence for Insurance Scam

A former Lubbock, Texas, insurance agent has been sentenced to life in prison and ordered to pay back $810,000 to his victims, the Texas Department of Insurance (TDI) reported. Officers with the Texas Department of Insurance Fraud Unit found that …

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Owner of Arizona Car Rental Companies Hit with $1.8M Verdict

A judge has ruled that the owner of two rental car companies in Phoenix, Ariz. must pay $1.85 million for defrauding Arizona consumers. The verdict was announced this week by the Arizona Attorney General’s Office. State prosecutors filed a consumer …

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Coal Company Cited for Safety Issues in Wyoming Miner’s Death

Rocky Mountain Power has been cited with a safety violation for the death of a miner in September. Jaimie Olivas was killed in the Bridger Underground Coal Mine when part of a wall of coal collapsed on him. The Casper …

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Hundreds of Illegal Pot Shops Operating in Los Angeles, Police Say

Los Angeles has issued licenses to nearly 100 marijuana retailers but police estimate there are at least two times that number operating illegally in the city and undercutting those who are playing by the rules. Police have shut down eight …

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New York Working to Deter Fraud, Manipulation in Virtual Currency Markets

New York Department of Financial Services (DFS) has issued guidance reminding all virtual currency entities licensed by New York State, including those that hold a money transmitter license, that they are required to implement measures designed to detect, prevent and …

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Motor Vehicle Deaths in U.S. Again Top 40,000

Motor vehicle accidents claimed 40,100 deaths in 2017, almost the same as in 2016 when 40,327 were reported. The National Safety Council says its preliminary 2017 estimate is six percent higher than the number of deaths in 2015 and, if …

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Virginia Woman Gets Four Years for Fraud, Fake Death Notice

A Virginia woman has been sentenced to four years in prison for an identity fraud scheme that included publishing a fake death notice. The Daily Press reports 50-year-old Alexandra Hatcher also has to pay almost $203,000 in restitution to victims …

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Maryland Man Sentenced in Felony Theft Scheme with Value of at Least $10K

Maryland Attorney General Brian E. Frosh has announced that Jamar Marlyn Jones, of Edgewood, Md., pleaded guilty and was sentenced on one count of a felony theft scheme having a value of at least $10,000 but less than $100,000. “Insurance …

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XL Catlin Names Carpenter’s Xue as CEO/General Manager of XL Insurance (China)

XL Catlin announced the appointment of Phil Xue as chief executive officer (general manager) of XL Insurance (China) Co. Ltd. The appointment is pending regulatory approval. Xue will also act as country manager for XL Catlin in China, coordinating all …

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Zurich, Insurtech Startup CoverWallet Offer End-to-End Insurance for Spanish SMEs

Zurich Insurance has launched ZurichEmpresas.es, a new digital distribution channel, which initially will provide insurance solutions for small-and-medium-sized enterprises (SMEs) in Spain. The platform, powered by CoverWallet, will provide end-to-end insurance solutions, streamlining the entire process for business owners and …

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Trump’s FTC Appointee Eyes Task Force to Investigate Drug Prices

President Donald Trump’s nominee to lead the Federal Trade Commission said he’s “very concerned” about price increases for prescription drugs and will explore forming a task force to monitor whether higher prices are due to anti-competitive conduct. Joe Simons, a …

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Europe’s Windstorm Burglind (aka Eleanor) to Cost an Estimated $802.5M: PERILS

Initial insured losses for Extratropical Cyclone Burglind (also known as Eleanor) are estimated at 643 million (US$802.5 million), according to PERILS, the Zurich-based organization that provides industry-wide catastrophe insurance data. On Jan. 2-3, the event caused significant damage across Austria, …

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London Unveils New Rules for Uber’s Drivers, Cars; Fleet Insurance Also Eyed

London’s transport authority unveiled proposed new rules for private hire taxi companies such as Uber by requiring them to limit working hours for their drivers, share data on travel patterns and ensure provision of wheelchair-accessible vehicles. Companies “should ensure that …

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Cyber Risk Management Fails to Measure Up to Escalating Cyber Risks: Marsh, Microsoft

Few organizations are highly confident in their ability to manage the risk of a cyber attack, despite viewing cyber security as a top risk management priority, according to a new global survey conducted by Marsh and Microsoft Corp. In the …

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Allianz Reports 22% Drop in Q4 Profit but Still Plans Dividend Hike

A record year for natural-disaster insurance claims worldwide and a decline in fourth quarter profit wasn’t enough to stop Allianz SE from raising its dividend. Europe’s biggest insurer will increase the dividend for 2017 by 5.3 percent to 8 euros …

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Siemens Joins 8 Industry Partners (Including Allianz) to Fight Cyber Crime

Siemens AG is joining with companies including Airbus SE and IBM to try to counter large-scale hacking attacks that threaten to cost $8 trillion in damage over the next five years. The group plans to sign a charter Friday at …

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UK Supports Post-Brexit Mutual Recognition System for London: FT Report

Britain’s government is ready to push for the kind of Brexit regulation plan that the City of London has long favored but which has already run into opposition in Brussels, the Financial Times reported on Friday. Finance minister Philip Hammond …

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Senate Confirms Smith as Head of Oregon Consumer and Business Services

The Oregon State Senate has confirmed Cameron Smith as director for the Department of Consumer and Business Services. Smith has served as acting director for the department since Gov. Kate Brown nominated him in December 2017. Smith previously was director …

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London Will Be Weakened as Financial Center After Brexit, Warns Bundesbank Exec

The U.K.’s exit from the European Union will be a watershed moment for the City of London and weaken its role as one of the world’s leading financial centers, Bundesbank Executive Board member Joachim Wuermeling said on Thursday. Speaking in …

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Former Iowa Insurance Agent Sentenced for Ongoing Criminal Conduct

A former insurance agent in Bettendorf, Iowa, has been sentenced to five years’ supervised probation for insurance fraud, the Iowa Insurance Division reported Billie J. Holmberg pleaded guilty in Scott County District Court to the charge of Ongoing Criminal Conduct, …

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Federal Suit Alleges Texas Coach Helped Student Accused of Sexual Assault

A federal lawsuit alleges a Prairie View A&M University coach helped a male student accused of sexual assault flee Texas to avoid arrest. An unidentified female athlete filed the lawsuit in Houston. It accuses the university of creating a hostile …

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Zurich’s Safi Joins Everest Insurance in Chicago as VP in U.S. Property Unit

Everest Re Group Ltd. announced Shaun Safi has joined the Everest Insurance U.S. Property team as vice president based in Chicago. Safi will oversee the retail property portfolio in the central region as well as the continued development of trading …

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Texas Family Awarded $8M for Body Missing from Funeral Home

A jury has awarded $8 million to a couple after finding a San Antonio funeral home was negligent in the loss of their daughter’s body before she was to be cremated. The San Antonio Express-News reports that Sharlotte and Timothy …

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AFL Insurance Brokers Taps JLT Re’s Rowland, Alston Gayler’s Cavani for Wholesale Property Team

Independent Lloyd’s broker AFL Insurance Brokers Ltd. hired re/insurance professionals Barry Rowland and Chris Cavani to augment its wholesale property team. Formerly a facilities and binder partner at JLT Re, Rowland joins AFL as director, Property & Casualty. Cavani joins …

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Brit’s Expands Capacity for Bermuda Sidecar Versutus & Lloyd’s Syndicate 298

London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking the fourth annual renewal and continued expansion of this vehicle, Versutus …

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Montana Investment Board OKs Transfer of State Fund Money

The Montana Board of Investments approved the transfer of $14.7 million from the Montana State Fund to the state’s firefighting fund by April 1. During a special legislative session in November, lawmakers set a temporary 3 percent management fee on …

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Family of Actor Bill Paxton Sues Hospital in California for Wrongful Death

The family of Bill Paxton has filed a wrongful death lawsuit against a Los Angeles hospital and the surgeon who performed the actor’s heart surgery shortly before he died. The suit filed against Cedars-Sinai Medical Center alleges the surgeon, used …

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Idaho’s ‘Freedom’ Plans Ignore Obamacare, But Have Limits

After Idaho’s Republican governor promised to find creative ways to get around Obamacare, one health plan in the state plans to offer skimpy coverage that may violate many of the law’s protections for patients. Blue Cross of Idaho said Wednesday …

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Integro Names Neal as Principal in Marine Practice in California

Integro Insurance Brokers has named Jacquelyn Neal as a principal in the marine practice. Neal is based in the San Francisco, Calif. office. She will manage a book of existing marine clients and develop new cargo and marine liability business. …

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The High Cost of Cybercrime to Insurers and Banks

Cyberattacks cost financial-services firms more to address than any other industry and the rate of breaches in the industry has tripled over the past five years, according to a report from Accenture and the Ponemon Institute. However, while cyberattacks have …

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Fire at Decades-Old Maryland Tavern Caused $500K in Damage

Firefighters say a blaze at a decades-old Maryland tavern in a Washington, D.C. suburb has caused damage costing roughly $500,000. Pete Piringer with Montgomery County Fire & Rescue Service tells WTTG-TV it appears the flames at Hank Dietle’s Tavern in …

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Maryland Insurance Administration Recovers $11.7M in Claims Settlements in 2017

The Maryland Insurance Administration (MIA) responded to 12,188 consumer complaints and inquiries in 2017, facilitating claims settlements and refunds totaling $11,766,213 for Maryland consumers, according to a press release issued by the administration. While the Insurance Administration cannot actually settle …

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Widespread Market Firming Unlikely Even as Property Rates Rise: WTW

Commercial property insurers are seeking double-digit rate hikes on catastrophe-exposed insurance programs following 2017’s record catastrophes; however, abundant capacity in the form of traditional and alternative capital is likely to depress widespread market firming, according to global advisor Willis Towers …

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Massive Pennsylvania Gas Pipeline Project to Resume; Sunoco Fined $12M

Sunoco has agreed to a $12.6 million fine over problems with a massive natural gas pipeline project, but work will resume under a consent agreement, Pennsylvania regulators said. The Department of Environmental Protection said Sunoco Pipeline has made changes since …

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How High Costs of Car Parts Drive Car Theft: Insurance Crime Bureau

The National Insurance Crime Bureau (NICB) says today’s vehicles are loaded with expensive parts and technology that do more than increase the costs of repairs, even in minor accidents. The organization says those same expensive parts are continuing to drive …

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Peak Re to Get Capital Boost with Prudential Financial’s Purchase of 13.1% Stake: A.M. Best

A wholly owned subsidiary of Prudential Financial Inc. (PFI) has signed definitive agreements to purchase a 13.1 percent stake in Peak Reinsurance Holdings Ltd., the sole shareholder of Hong Kong-based Peak Reinsurance Co. Ltd. Prior to the transaction, Fosun International …

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Gas Trading Platform Pegas Developing Temperature Products to Hedge Weather Risks

European gas trading platform Pegas said it is developing temperature products, which if approved could go live next year and help energy operators hedge weather risks. “A final plan will be presented to the exchange’s top management in the third …

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TWIA Policy Center for Commercial and Manufactured Home Policies Now Available

The Texas Windstorm Insurance Association (TWIA) announced that its Policy Center for commercial and manufactured home policies is live and available for agents to use. TWIA said agents must now use Policy Center for all new policy submissions, regardless of …

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Worker Injury Incidence Rate in Louisiana in 2016 Among the Lowest

The Louisiana Workforce Commission (LWC) reports that the rate of nonfatal work-related injuries and illnesses among Louisiana’s private sector employers remained steady in 2016, according to a federal Bureau of Labor Statistics (BLS) survey. The state’s rate of non-fatal accidents …

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Texas Petro-Chemical Contractor Sued for Alleged Disability Discrimination

A blood disorder led to the illegal firing of three laborers at a Texas-based petro-chemical contractor, federal officials say. The U.S. Equal Employment Opportunity Commission (EEOC) has charged in a lawsuit that Signature Industrial Services LLC (SIS) unlawfully fired the …

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Insurers Express Support Wisconsin Governor’s Reinsurance Plan

Gov. Scott Walker’s $200 million plan to reduce health care costs for people purchasing insurance through the private marketplace won support from Wisconsin’s health insurance providers, doctors and medical community at a public hearing, even as Democrats raised concerns about …

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Property Manager in Iowa City Ordered to Pay $5.6M in Worker’s Death

A jury has ordered a prominent Iowa City landlord to pay $5.6 million to the widow of a maintenance worker who fell to his death. The Johnson County jury returned the verdict on Feb. 12 against Jeffrey Clark, the manager …

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Up to 29 Vehicles Involved in Fatal Wisconsin Highway Crash

Authorities say the number of vehicles involved in a fatal crash in the fog on a southern Wisconsin highway is now up to 29. Dane County sheriff’s spokeswoman Elise Schaffer says one person —a 53-year-old woman — died and six …

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Coastal Communities Hit by Harvey to Get $1B for Hazard Mitigation

Texas communities slammed by Hurricane Harvey can now apply for a share of a half-billion dollars in federal money that will cover everything from buying out flood-prone homes to building new seawalls and restoring sand dunes, Gov. Greg Abbott told …

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California Lawmakers Want to Beef up Dam Checks After Oroville

California would beef up dam inspections under legislation sent to Gov. Jerry Brown, a year after a near disaster prompted the evacuation of nearly 200,000 residents living downstream from the tallest U.S. dam. The Assembly unanimously gave final approval to …

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Utah Ready to Sue California Over Coal Power Fee

Utah lawmakers want the state to set aside $2 million to sue California over rules that make coal-fired power more expensive. The proposal from Republican Rep. Mike Noel passed through a subcommittee this week with only one Democratic lawmaker raising …

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XL Group’s McGavick Cuts Exposure to Hedge Funds to Boost Investment Yield

XL Group Ltd., the insurer with about $38 billion of investments, is reducing its exposure to hedge funds, Chief Executive Officer Mike McGavick said. “We still do see some value there, but at this time we’ve seen it advantageous to …

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Poizner Wants Former California Insurance Commissioner Job

A Silicon Valley entrepreneur and unsuccessful gubernatorial candidate is running to retake his old seat as California’s top insurance watchdog. But this time Steve Poizner is running for insurance commissioner as an independent, not a Republican. He filed paperwork Monday …

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Southwest Airliner Catches Fire at California Airport, 139 Passengers Evacuate

A fire on a Southwest Airlines plane forced passengers to evacuate before takeoff at a Southern California airport. Officials from John Wayne Airport say the crew of the Boeing 737 decided that the 139 passengers should evacuate Monday night using …

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What to Expect in Workers’ Compensation Pricing in 2018

Workers’ compensation rates in 2018 will be mixed, with some programs seeing pricing flat to down and others seeing spikes, according to a market prediction from the broker USI. In other words, market trends should continue as they did in …

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Hiscox Names McLaughlin as CFO in U.S.

Specialty insurer Hiscox has appointed David McLaughlin as chief financial officer in the U.S.. McLaughlin is based in Atlanta and will report to Ben Walter, chief executive officer for Hiscox in the U.S. McLaughlin brings 20 years of operational and …

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Help Wanted: Data Protection Officers for Global Firms Anxious to Comply with EU Data Law

They may not have the cachet of entrepreneurs, or geek chic of developers, but data protection officers are suddenly the hottest properties in technology. When Jen Brown got her first certification for information privacy in 2006, few companies were looking …

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New York Judge Awards Graffiti Artists $6.7M After Works Destroyed

A judge awarded $6.7 million Monday to graffiti artists who sued after dozens of spray paintings were destroyed on the walls of dilapidated warehouse buildings torn down to make room for high-rise luxury residences. U.S. District Judge Frederic Block in …

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Court Declines to Tear Up New Jersey’s $225M Settlement with Exxon

A New Jersey appeals court on Monday turned down a request from environmental groups and a former state senator to undo a $225 million pollution settlement between the state and Exxon Mobil. Appellate Division Judge Carmen Messano, writing on behalf …

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Allianz Raises Stake in Credit Insurer Euler Hermes to 92.43%

Allianz Group has successfully increased its stake in the leading credit insurer Euler Hermes to 92.43 percent. In November, Allianz first announced it intended to increase its 63 percent shareholding in Euler Hermes by buying out minority shareholders. Since then, …

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Caride Named Acting Commissioner of N.J. Department of Banking and Insurance

New Jersey Governor Phil Murphy has named Marlene Caride acting commissioner of the New Jersey Department of Banking and Insurance (DOBI), effective January 16, 2018. In this new role, Caride oversees New Jersey’s insurance, banking and real estate industries. She …

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Calls for Regulation of Hobbyist Drones Follow Latest Close Encounter Report

A video from a drone that flew within feet of an airliner over Las Vegas and prompted outrage on the internet has spurred three influential U.S. aviation lobbies to call for tighter regulations on hobby drones. Legislation exempting certain hobbyist …

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UK’s Pool Re Launches Terrorism Risk Assessment Tool to Help Insureds Cut Premiums

Pool Re, the UK terrorism reinsurer, announced the launch of the Vulnerability Self-Assessment Tool (VSAT). Aimed at medium and large businesses, this tool will enable Pool Re member insurers to offer a 5 percent premium discount to insureds which “implement …

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Marine P&I Clubs Face Intense Pricing Pressures in February Renewals: A.M. Best

While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline will be tested over the February 2018 renewal period, according to a report by A.M. Best. Intense competition, exacerbated by a …

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London Unprepared to Be Early Adopter of Autonomous Vehicles: Report

London is ill-prepared to become an early adopter of cutting-edge transport technology including driverless cars and retail deliveries by drone, according to the city’s lawmakers. While the U.K. government has predicted that connected and autonomous vehicles, or CAVs, will be …

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Kemper to Acquire Nonstandard Auto Insurer Infinity in $1.4 Billion Deal

Chicago-based insurer Kemper Corp. has agreed to acquire Birmingham-based Infinity Property and Casualty Corp. in a cash and stock transaction valued at approximately $1.4 billion, or $129.00 per share, creating an insurer with increased scale in the nonstandard auto insurance …

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Clearcover Insurtech Announces California Launch

Clearcover, a data-driven auto insurtech startup, announced the California launch of its platform today and is officially selling car insurance policies to residents in the state. The firm is promising that “consumers can save hundreds of dollars on their auto …

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TDI: Hurricane Harvey Brought Nearly 670K Property Insurance Claims

Hurricane Harvey resulted in nearly 670,000 in combined personal and commercial property insurance claims to private insurers, the Texas Windstorm Insurance Association (TWIA) and the Texas Fair Access to Insurance Requirements Plan (FAIR Plan), insurance regulators said in a presentation …

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Indiana Testing Whether Smelter Workers Expose Their Kids to Lead

Health officials are testing lead levels in the blood of children whose parents work at a central Indiana lead smelting plant amid concerns those workers are tracking lead home on their clothing, exposing their kids to the toxic metal that …

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Public, Lawmakers Consider Wisconsin Governor’s Health Reinsurance Plan

The public got a chance Monday to comment on Wisconsin Gov. Scott Walker’s $200 million plan to reduce health care costs for people purchasing insurance through the private marketplace. Walker is pushing the idea, along with a plan to bolster …

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All Types of Disasters Covered at Oklahoma’s National Tornado Summit

The Oklahoma Insurance Department reports that national experts will share innovative strategies in recovering from tornadoes, wildfires, flooding, hurricanes and more at the 2018 National Tornado Summit to be held in Oklahoma City. The 7th annual event will be held Feb. …

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Texas Sees Increase in Auto Fatalities in 2017

More than 3,700 people were killed on Texas roadways last year marking a 10 percent increase in traffic deaths from 2016, according to data from the Texas Department of Transportation. The Insurance Council of Texas reports that since 2010, traffic deaths …

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Nebraska Lawmakers Eye State as Test Site for Self-Driving Cars

Nebraska lawmakers could open the door to self-driving cars and trucks this year with new legislation designed to attract the industry while maintaining public safety. A legislative committee is considering two measures that would let researchers test self-driving vehicles in Nebraska to prepare …

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Alera Group Acquires Wilson Albers in Alaska

Alera Group has acquired Wilson Albers & Company LLC located in Anchorage, Alaska. Terms of the deal were not disclosed. Wilson Albers & Company, LLC, parent company of The Wilson Agency, LLC, Albers & Company Inc. in Tacoma, Wash., and …

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California Dam Crisis Driving National Examination

One year after the worst structural failures at a major U.S. dam in a generation, federal regulators who oversee California’s half-century-old, towering Oroville Dam say they are looking hard at how they overlooked its built-in weaknesses for decades. The Federal …

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Buckner Names Butler President of Colorado

The Buckner Co. has named Lance Butler president of Colorado operations. Butler will be responsible for managing the top line growth and operations in the state. Butler has more than 25 years of experience in large commercial accounts. Buckner reports …

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Vital Names Matlach Vice President of Product Development in Arizona

Vital Insurance Partners has named Meg Matlach vice president of product development. Matlach, who will be based in Phoenix, Ariz., will be responsible for product development and program enhancement within the specialty insurance marketplace. She will work with program administrators, …

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Why Wholesale Insurance Brokers Are Under Continuing Pressure to Sell

Wholesale insurance brokers have been selling off their businesses and it’s not because they are all ready to retire. As in the retail agency segment, consolidation among wholesale brokerages is being driven by buyers with plenty of money to spend, …

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CNA Reports Solid Q4, Year Despite Despite Catastrophes

Insurer CNA saw its fourth quarter 2017 combined ratio improve and its quarterly net income dip only slightly despite catastrophe losses. For the full year 2017, it achieved net income of nearly $900 million, which was higher than the year …

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New York’s Distinguished Programs Hires Beaumont and Hunke

Distinguished Programs, a New York, N.Y.-based national insurance program manager, has expanded its Data & Actuarial Science department with the addition of Perry H. Beaumont as head of the department and Steven Hunke as the department’s actuary. In his new …

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National Guard Helping After Chemicals Found in Delaware Town’s Wells

Delaware Governor John Carney has authorized the National Guard to assist residents of a southern Delaware town after the discovery of high levels of toxic chemicals in municipal wells. Authorities said that the Guard has provided two, 400-gallon portable water …

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Ironshore Names Russo VP, Mid-Atlantic Regional Executive in Philadelphia

Ironshore Inc. has named David D. Russo as vice president and regional executive of the Mid-Atlantic region, based in Philadelphia, Penn. In his new role, Russo will be responsible for the management, oversight and operational execution of Ironshore’s business development …

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Equifax Breach Exposed More Consumer Data Than First Disclosed

The Equifax data breach exposed more of consumers’ personal information than the company first disclosed last year, according to documents given to lawmakers. The credit reporting company announced in September that the personal information of 145.5 million consumers had been …

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Bank Danamon Indonesia’s Insurance Unit ‘Attracts Interest’ From Foreign Suitors

PT Bank Danamon Indonesia, the nation’s fifth-largest lender by market value, is fielding interest from foreign suitors seeking a stake in its insurance subsidiary, people familiar with the matter said. Jakarta-based Danamon is working with an adviser as it weighs …

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XL Catlin Promotes Powell to Chief Underwriting Officer for International Financial Lines

XL Catlin’s insurance operations announced that Tim Powell has been promoted to chief underwriting officer for international financial lines (IFL), effective March 1. Powell will be responsible for the underwriting performance of XL Catlin’s financial lines portfolio in all geographies …

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Billionaire Chief of SoftBank Bets on Autonomously Driven World: Opinion

It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire chief of SoftBank Group …

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Nexus Acquires D&O and Financial Institutions MGA Apsley Specialty

Independent specialty managing general agent Nexus Group announced it has completed the acquisition of Apsley Specialty Ltd., a registered Lloyd’s coverholder. Financial details of the transaction were not disclosed. Established in 2012, Apsley Specialty is a London-based specialist directors & …

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Ryan Specialty Group Agrees to Buy UK P&I Insurer Lodestar Marine from Tawa

Ryan Specialty Group LLC (RSG) announced it has reached a definitive agreement to acquire London-based Lodestar Marine Ltd., an MGA in the protection & indemnity (P&I) fixed premium marine market, from Tawa Associates Ltd.* Lodestar’s operations will become part of …

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Vital Insurance Partners Names Matlach VP, Product Development in Arizona

Vital Insurance Partners, an insurance consultant and program intermediary, has named Meg Matlach vice president of Product Development. Based in Phoenix, Arizona, she is responsible for product development and program enhancement within the specialty insurance marketplace. She will work closely …

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Report: San Antonio Fire Department Mishandled Deadly Shopping Center Blaze

A peer review of the San Antonio Fire Department reveals that commanders and firefighters made several mistakes while battling a blaze at a shopping center that killed one of them. Fire Chief Charles Hood provided an overview of the review’s …

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Tribe Continues Suit Against Drug Distributors; Refiles in State Court

The Cherokee Nation has refiled a lawsuit against opioid distributors in state court after a federal judge ruled that tribe’s court system had no jurisdiction over the companies. Lawyers filed the suit in Sequoyah County, which is part of the …

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Thieves Steal Tires from 40 Vehicles at Oklahoma Dealership

Investigators in Norman, Oklahoma, say the theft of tires and rims from vehicles at a Norman car dealership appears similar to thefts reported in Texas. Police say tires and rims were discovered missing removed from about 40 vehicles at a …

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Federal Flood Insurance Gets Another Short Extension

Once again, the government’s flood insurance program has been given a short lease on life. On February 9, 2018, President Donald Trump signed legislation passed by both houses of Congress that extends the National Flood Insurance Program’s authorization to March …

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Fresh Kiwi Blamed for Physical Reactions at 14 Rhode Island Schools

Rhode Island health officials are investigating after students at 14 schools had physical reactions after eating kiwi fruit. The state’s Department of Health says approximately 34 students in cities including Providence and Woonsocket suffered itching of the lips and mouth, …

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Brit USA Expands Marine Practice with Robinson, Saegusa

Brit Ltd. has appointed Marc Robinson and Yasuaki Saegusa to the Marine business of Brit Global Specialty USA. Robinson joins BGSU as assistant vice president and will be based in the Hartford, Connecticut office. He will be responsible for the …

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Vermont Legalizes Marijuana, but Lake Champlain is Considered Federal

While possessing small amounts of marijuana will be legal in Vermont later this year, it will remain off-limits on the waters of Lake Champlain. The lake is considered federal water because it borders Canada. The Burlington Free Press reports that means those …

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Fire Destroys Two Buildings in Cumberland’s Historic District

Officials say a fire has destroyed two buildings in Cumberland, Maryland’s historic district. The state fire marshal’s office said Saturday no injuries have been reported. Nearly 125 firefighters from Maryland and West Virginia were alerted to the blaze shortly after …

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Share Your Story: Sexual Harassment and the Insurance Workplace

From Hollywood to the corporate world, sexual harassment — the making of unwanted sexual advances or obscene remarks — is drawing greater public scrutiny than ever before. Victims (mostly women) and their supporters have taken on the cause, publicizing the …

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Judge Voids Verdict on Arab Bank Liability for Terrorism; Triggers Settlements

A U.S. appeals court has thrown out a 2014 jury verdict finding Arab Bank Plc liable for knowingly supporting militant attacks in Israel linked to Hamas, a decision that triggers a settlement agreement with hundreds of plaintiffs. Friday’s decision by …

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Hub International Acquires Canadian Broker Kindersley Insurance

Hub International Limited (Hub), a Chicago-based insurance broker, announced it has acquired the shares of Canadian broker Kindersley Insurance Ltd. Terms of the acquisition were not disclosed. Headquartered in Kindersley, Saskatchewan, with an office in Dodsland, Kindersley Insurance Ltd. is a …

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Liberty Specialty Markets’ French Operation to Expand Product Range, Increase Team

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, is to broaden the range of product lines underwritten by its French operation and increase the size of its team. It will also make a series of investments in its French …

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ArgoGlobal Launches Lloyd’s Market Motor Treaty Consortium, Supported by Barbican

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the launch of the first Lloyd’s market consortium for motor treaty business. The consortium, led by ArgoGlobal and supported by Barbican Insurance Group, was established in time for Jan. 1 …

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Aspen Looks to Rebound from ‘Considerable Poor Performance’ by Insurance Unit

Aspen Insurance Holdings lost nearly $185 million in the 2017 fourth quarter, or $3.25 per diluted share. The struggling Bermuda-based insurer and reinsurer also saw its consolidated combined ratio hit 152.6. While California wildfire catastrophe costs contributed greatly to Aspen’s …

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First-Hand Knowledge of Industry’s Problems Led to Idea for InsurePal’s Social Proofing

After spending 15-plus years in and around the insurance industry, Matt Peterman and Tom Volk had first-hand experience of the industry’s systemic problems with fraud and rising premiums. They decided to do something about it, developing what they think will be …

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Distributed Social Proof Insurance: The Next Industry Game-Changer?

InsurTech startup InsurePal is developing an insurance platform that aims to revolutionize the industry’s model for risk selection and fraud prevention by “social proofing” insurance products. With a pilot for motor insurance due to be launched in the UK within …

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Arson Arrest Made For Fire At Mississippi Delta Community College

A joint investigation between the Mississippi State Fire Marshal’s Office, Mississippi Delta Community College (MDCC) Police Department, Mississippi Bureau of Investigation, Sunflower County Sheriff’s Department, and the Sunflower County Emergency Management has resulted in the arrest of an individual for …

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Wife of Conductor Killed in Deadly S.C. Train Crash Sues Rail Companies for Negligence

The wife of a conductor killed in the crash of an Amtrak train with a parked freight train in South Carolina earlier this month filed suit Thursday against Amtrak and the other rail company, saying they were to blame for …

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Study Finds Houston’s Apartment Safety Programs Are Flawed

A report by the University of Texas School of Law has found that Houston’s programs designed to ensure apartment safety are “flawed, fractured and improperly managed.” The 16-month study released Feb. 6 is called “Out of Order: Houston’s Dangerous Apartment …

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Kentucky Advances Legislation Aimed at Revising State’s Medical Malpractice System

Following up on a big change made last year to Kentucky’s medical malpractice system, state lawmakers are considering a measure that would further alter the process of pursuing lawsuits claiming medical error or neglect. The bill advanced by the Senate …

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Ohio’s Wichert Insurance Appoints Thomas as President

Wichert Insurance, an Ohio-based independent insurance agency and wholesaler, has appointed Al Thomas to the position of president. Thomas has worked in the capacity of principal of Confluence Insurance Advisors LLC (CIA) as a consultant to Wichert’s acquisition strategy and …

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Caldiero Joins Worldwide Facilities as VP in Los Angeles

National wholesale insurance brokerage and managing general agent Worldwide Facilities has hired Klayton Caldiero to serve as vice president in its Los Angeles office. Caldiero started his insurance career in 2001 as a retail agent where he built a wealth …

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IICF Raises Over $900K for Nonprofits in Texas and the Region

The Insurance Industry Charitable Foundation (IICF), a nonprofit organization working with the insurance industry to help communities and enrich lives, announced that 650 insurance professionals and industry supporters attended its sixth annual Southeast Benefit Dinner on Feb. 1 at the Ritz …

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Ohio Sues Dupont, Chemours over Cancer-Linked Teflon Toxin

DuPont Co. and its spinoff  Chemours Co. have been sued by Ohio for dumping a chemical used in Teflon, an action the state said went on for 60 years even though the company knew it was toxic to humans. Ohio’s Attorney …

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Fracking Earthquakes Pop Up in Unexpected Corner of Oklahoma’s Shale Patch

The oil prospectors of Oklahoma, it appeared, finally had a solution to their earthquake problem. Ordered by regulators to curb the wastewater they were dumping deep into the ground, they watched with satisfaction as tremors plunged to fewer than two …

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Fracking Earthquakes Pop Up in Unexpected Corner of Oklahoma’s Shale Patch

The oil prospectors of Oklahoma, it appeared, finally had a solution to their earthquake problem. Ordered by regulators to curb the wastewater they were dumping deep into the ground, they watched with satisfaction as tremors plunged to fewer than two …

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Ohio Collects more than $20M in Past Due Taxes from Insurance Agents

A state of Ohio program established to collect past due taxes from insurance agents has surpassed the $20 million threshold, Ohio Department of Insurance Director Jillian Froment announced. The vast majority of the nearly 220,000 agents licensed by the ODI …

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Feds Sue Staffing Company over Sexual Harassment at Kansas Site

An international staffing company violated federal law when it allowed a manager at a Kansas City, Kan., worksite to repeatedly sexually harass female workers on a manufacturing line, the U.S. Equal Employment Opportunity Commission (EEOC) has charged in a lawsuit …

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Oklahoma Recovers Over $3M for Consumers in 2017

The Oklahoma Insurance Department (OID) recovered more than $3 million for policyholders in 2017. The money was paid out to Oklahoma consumers who had claim disputes with their insurance company. OID’s Consumer Assistance/Claims Division, which processes and investigates all complaints …

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Waymo, Uber Reach Settlement in Trade Secret Dispute

Alphabet Inc.’s Waymo self-driving vehicle unit and ride-hailing firm Uber Technologies Inc. have settled their legal dispute over trade secrets, the two companies said on Friday. A trial to decide the case, which started earlier this week, has been dismissed by the …

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AIG’s Doubling of Q4 Loss Pinned on Wildfires, Tax Act

American International Group reported a net loss of $6.7 billion for the fourth quarter of 2017, compared to a net loss of $3.0 billion in the prior-year quarter. The fourth quarter of 2017 net loss included a charge of $6.7 …

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Amtrak Engineer Ordered to Stand Trial in Philadelphia Crash

Amtrak engineer Brandon Bostian sat stunned Tuesday as a judge reinstated twice-rejected criminal charges and ordered him to stand trial for a deadly 2015 train wreck in Philadelphia. Judge Kathryn S. Lewis ruled that another judge erred in dismissing the …

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Teens Charged in Fire That Destroyed Century-Old Maryland Home

Two teenage boys have been charged with arson that destroyed a century-old home on Maryland’s Kent Island. The Office of the State Fire Marshal in Maryland reported that the two teens, age 14 and 15, pulled old Christmas trees into …

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Maryland Property Insurer Left Client Data Temporarily Exposed Online

The Maryland Joint Insurance Association left data about some of its customers exposed online, but there’s no evidence it was accessed improperly. The Baltimore Sun reported Wednesday that a California-based cybersecurity firm known as UpGuard found the exposed data and …

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U.S. Judge Rules ‘Gig Economy’ Driver Is Independent Contractor

A U.S. judge in San Francisco on Thursday said a former Grubhub Inc. delivery driver was an independent contractor and not the company’s employee, in the first case of its kind against a “gig economy” company that went to trial. …

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Brokerslink Appoints Legrand as CEO, Succeeding Fonseca

Brokerslink announced the appointment of Jacqueline Legrand as CEO, succeeding José Manuel Fonseca, who is stepping back to focus his efforts on managing the growth of MDS Group, a Brokerslink reference shareholder, of which he is CEO. Legrand is chief …

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January Windstorms to Cost Europe’s Insurers More Than $2B: Aon

European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Of the Atlantic storm systems that hit …

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Sompo International to Buy Italian Agriculture Insurer A&A

Sompo International said it has agreed to buy an Italian agriculture insurer in a bid to broaden the reach of a new, recently launched global technology platform focused on the sector. The Bermuda-based specialty property/casualty insurer and reinsurer expects to …

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From Bermuda to Switzerland, Reinsurers Lure Variety of Potential Investors

The $500 billion reinsurance industry is experiencing a flurry of deal talks. One reason: Companies are finally for sale as a rash of natural disasters has depressed valuations and a influx of competitors has made it harder to raise rates. …

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Climate Change and The ‘Fire Insurance Predicament’

A Washington-based conservative group is suing for information on the U.S. government’s “backstage work” on the Paris agreement it says will help pave the way for president Trump’s withdrawal from the agreement. The Competitive Enterprise Institute recently filed a lawsuit …

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California Department of Insurance Says it Recovered $81.3M for Consumers

Insurance Commissioner Dave Jones announced on Thursday that the California Department of Insurance recovered more than $81.3 million for consumers during 2017 through consumer complaint investigations and market conduct examinations of insurance companies. Last year the department’s consumer hotline reportedly …

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HVACi Acquires Kentucky-Based Donan Engineering’s HVAC Forensics Division

HVAC Investigators (HVACi), a national provider of HVAC damage assessments for insurance claims, has acquired Donan Engineering’s HVAC Forensics division, based in Louisville, Ky. The consolidation of two brands in is anticipated to benefit the customer bases of both organizations …

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Underground Coal Miner Killed in West Virginia

Authorities say a coal miner has been killed at an underground mine in northern West Virginia. The West Virginia Office of Miners’ Health, Safety and Training says the incident occurred shortly before 4 a.m. Tuesday at Wolf Run Mining LLC’s …

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South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements

South Carolina has alerted insurers of several changes to loss costs for the state’s voluntary and assigned risk workers’ compensation markets, and has issued a requirement that updated loss cost multipliers be filed in response to the recent termination of …

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Texas Appeals Court Says Federal Law Preempts State on Air Ambulance Fees

An appellate court in Texas has ruled that federal law, as opposed to state regulation, prevails when it comes to the amount an air ambulance service may charge insurance companies for its services. The ruling of the Austin Court of …

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Tort Reform Upstages Effort to Put Road Funding Measure on Arkansas Ballot

The Arkansas Highway Commission has voted to drop an effort to put a road funding plan on the November ballot and instead will try again with a proposal it will advocate to lawmakers next year. Commissioners cited the difficulties they …

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Validus Specialty Launches Standalone Cyber Insurance Product

The Cyber and Technology insurance group of Validus Specialty Underwriting Services, Inc. have expanded its offering with a standalone cyber insurance product focused on privacy and network protection coverage. The product is tailored for U.S. companies with revenue between $150 …

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South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates

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South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates

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South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements

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U.S. Weather Service Test Became False Tsunami Warning on East Coast

A tsunami warning was erroneously sent Tuesday to some mobile phones along the East Coast and other coastal locations, less than a month after a false notification of a missile attack in Hawaii was sent by that state’s emergency service …

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Did HUD Just Restore Obama Federal Flood Rule Nixed by Trump?

The Trump administration’s stance on climate change became a little less clear this week. Six months ago, President Donald Trump revoked an Obama-era rule requiring federally funded projects to account for the increased flood risk associated with global warming. Critics …

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Ex-Alaska Airlines Pilot to Plead in California to Flying While Drunk

A former Alaska Airlines pilot will plead guilty in California to a charge of flying a passenger plane while drunk. Federal prosecutors say David Hans Arntson of Newport Beach agreed this week to enter the plea at a later hearing. …

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Arizona Man Gets Jail Time for Selling Fake Insurance Policies to Businesses

An Arizona man has been sentenced to 3 1/2 years in prison for selling fake insurance policies to commercial environmental businesses. Prosecutors say Brian McFarland must also pay full restitution of more than $450,000 to the 87 defrauded businesses. The …

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HUB International Names Greene Vice President of Employee Benefits in California

HUB International of California has named Lynn Greene vice president of the employee benefits practice. Greene’s primary role will be the design, placement, and maintenance of healthcare programs and human-resource solutions for mid-market and large companies. Greene has more than …

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Investments, Tax Cuts Boosted Allstate Profit in Q4

The Allstate Corp., like many carriers, faced an enormous hit from natural catastrophe losses in the 2017 fourth quarter. Investment returns soared by double digits, however, and the Trump tax cuts gave it a one-time gain, helping to ensure the …

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Massachusetts Launches Online Portal for Data Breach Reports

Massachusetts Attorney General Maura Healey has unveiled a new online portal to let businesses and organizations report data breaches. The Democrat said the online portal should make it easier to alert her office to the potential theft of information. Since …

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Repairs After Massachusetts Library Flooding Estimated to Cost $300K

Officials estimate it will cost about $300,000 to repair a Massachusetts library after a burst pipe dumped thousands of gallons of water into the building. The Pollard Memorial Library in Lowell, Mass., remains closed after a pipe broke in early …

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New York’s 21 Club Closes to Fix Flood Damage

The tony 21 Club in midtown Manhattan has been closed for renovations following a flood. The restaurant was damaged in early January after broken pipes set off fire sprinklers which sent gallons of water gushing throughout the clubby interior. The …

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Alera Group Acquires Three East Region Firms

Alera Group, a Deerfield, Ill.-based national employee benefits, property/casualty, risk management and wealth management firm, has acquired three East region firms, effective February 1, 2018. Aisling Partners Insurance Brokerage LLC, located in Worcester, Mass., is an independent employee benefits brokerage …

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Hiscox Names Walter as CEO Hiscox Global Retail; Langan as CEO of Hiscox USA

Hiscox Ltd. announced that Ben Walter, the current CEO of Hiscox USA, will relocate to London to take up the newly created role of CEO Hiscox Global Retail. He will be succeeded as CEO Hiscox USA by Steve Langan, the …

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Zurich Insurance Raises Dividend as Cost Cuts Bear Fruit

Zurich Insurance Group AG overcame a record year for natural-disaster claims in the industry to deliver its first dividend increase since 2011. Switzerland’s biggest insurer raised its dividend for 2017 by 6 percent to 18 Swiss francs ($19.10) a share, …

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Everest Insurance Hires Aspen’s Sanders to Lead Europe Credit & Political Risk Business

Everest Re Group Ltd. announced that Paul Sanders has joined Everest Insurance as head of their European Credit and Political Risk insurance business. Sanders joins Everest with over 20 years of experience in the London market as a broker, underwriter, …

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XL Group Attracts Interest from Allianz, Other Rivals as Potential Buyers

Bermuda-based insurer XL Group Ltd. is attracting interest from rivals including Allianz SE of Germany, according to people with knowledge of the matter. Interest from insurers in potentially acquiring XL, which has a market value of almost $10 billion, is …

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Japan’s SoftBank in Talks to Buy Stake in Swiss Re

Swiss Re is in preliminary discussions with Japan’s SoftBank Group on a potential minority investment in the Swiss reinsurer, the Zurich-based group said on Wednesday. The statement followed a report in the Wall Street Journal that the two groups were …

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Alera Group Acquires Davidson Benefits Planning in Oregon

Alera Group has acquired Davidson Benefits Planning, headquartered in Tigard, Ore. Alera made the purchase along with the purchase of three other firms effective Feb. 1, bringing the total number of acquisitions since launching in January 2017 to 20. Davidson …

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‘Dancing with the Stars’ Bus Crashes in Iowa Pileup

Officials say a bus carrying the touring cast and crew of “Dancing with the Stars” was involved in a large pileup during a snow storm in central Iowa, but no one on the bus was seriously hurt. Iowa State University …

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Martin Joins MarketScout as Technology Analyst

MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has added Manoj Martin to its internal technology team. Martin will provide technical support to MIT, MarketScout InsurTech ventures. He has more than 20 years’ experience in …

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UK Supermarket Group Tesco Faces Potential Equal Pay Claim of $5.6B

Supermarket group Tesco is facing a potential bill of up to 4 billion pounds ($5.6 billion) in a record equal pay claim involving mainly women workers at its British stores, according to the law firm pursuing the case. If the …

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Report: Lawsuit Settlements Cost Missouri Taxpayers $23M in 2017

Lawsuits against the state of Missouri cost taxpayers at least $23 million last year, according to a new report from Attorney General Josh Hawley. A year-end report from Hawley, a Republican, showed that 16 of the 45 major payouts were …

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Treasury to Look Into Consumer Financial Bureau’s Handling of Equifax Breach

U.S. Treasury Secretary Steven Mnuchin on Tuesday said he wants to know how the Consumer Financial Protection Bureau is handling a probe into a hack of credit bureau Equifax Inc. after a report that the agency’s chief has pulled back …

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Atlantic Casualty Adds Tokuda as Vice President in Arizona

Atlantic Casualty Insurance Co. has named Tim Tokuda assistant vice president in business development and marketing. Tokuda will work to develop marketing strategies and distribution channels for multiple states within the company. He will work out of the Scottsdale, Ariz. …

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Oregon Woman Sues Over Newborn’s Death After 2-Day Birth

A Bend, Ore. woman has filed a $9 million wrongful death lawsuit against the St. Charles Health System after her daughter died following a difficult childbirth. The Bulletin reported that Grace Louise Marchant-Hubbs was born unconscious after a 2-day delivery …

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Oregon School District Settles Suit Filed by Parent Boy Who Was Attacked

The Eugene School District in Oregon has paid $24,000 to settle a lawsuit filed by a parent whose child was attacked at school. Olga Telsheva sought $625,000 when the suit was filed last year. She alleged that officials failed to …

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Brit Adds Ballantyne to Claims Team for North America

Christopher Ballantyne joined specialty insurer Brit Ltd.s claims team in the newly-created role of vice president of Delegated Claim Authority. Ballantyne will be responsible for the day-to-day oversight and performance management of Brit’s North American claims service providers, as well …

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U.S. Safety Board Blames Two NYC-Area Commuter Crashes on Sleep Disorders

A U.S. investigative agency said on Tuesday that two New York City area commuter train crashes were the result of engineers with undiagnosed sleep disorders. The National Transportation Safety Board (NTSB) criticized the lack of safety systems in both crashes …

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