U.S. retailer Walmart Inc. is in early-stage talks with health insurer Humana Inc. about developing closer ties, with the acquisition of Humana being discussed as one possibility, people familiar with the matter said on Thursday. Should the talks lead to …
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2018年3月30日星期五
2018年3月29日星期四
Youths’ Climate Change Suit Has Potential Impact on a Historic Scale for Insurance
A three-year-old lawsuit by a group of youths against the U.S. over climate change, which looks to now get a new trial date at some point this year, has the potential to open up lawsuits on a historic scale, according …
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Louisiana Senate Backs Higher Civil Penalties in Hazing Death Lawsuits
People who file civil lawsuits in Louisiana when someone dies from hazing could be in line for higher penalty payments, under a bill that won easy passage from the state Senate. Senators voted 28-3 Wednesday for Senate Bill 91 by …
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Texas’ Galveston County Looking to Elevate 200 Flood-Prone Homes
Preliminary estimates indicate that a hurricane recovery program in southeast Texas could elevate as many as 200 homes that have been repeatedly flooded. The Daily News reports that Galveston County commissioners received details about the plan on March 26 from …
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Nebraska Woman Sentenced to 10 Months for $300K-Plus Theft from Employer
An accountant accused of embezzling from the Nebraska Rural Electric Association has been sent to prison. Federal prosecutors say 42-year-old Sarah Batenhorst, of Lincoln, was sentenced to 10 months and ordered to pay restitution of nearly $344,000. She’d pleaded guilty …
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More than $1B Sought by Houston-Area Leaders for Flood Control
Officials in the Texas county hardest hit by Hurricane Harvey want to ask voters to approve up to $2 billion in bonds to fund critical flood-control projects, but worried Tuesday about potential roadblocks. Harris County, home to Houston, plans to …
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$1.27M Settlement Proposed in Ohio State Fair Death
A proposed $1.27 million settlement has been announced with the family of an 18-year-old killed in an accident last year at the Ohio State Fair. Court documents show the parents of Tyler Jarrell would receive $870,000, and the rest will …
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Third Person Charged in Waterslide Death of Kansas Boy
A man involved in the design of the world’s tallest waterslide into has been indicted along with two others in connection with the death of a 10-year-old boy at the Schlitterbahn Waterpark in Kansas City, Kansas. John Schooley was included …
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Oracle’s Java Copyright Violation Claim Against Google Not Dead After All
A U.S. appeals court on Tuesday resurrected a multi-billion dollar copyright case brought by Oracle Corp. against Alphabet Inc.’s Google. The U.S. Court of Appeals for the Federal Circuit said Google’s use of Oracle’s Java development platform to create the …
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Chubb Invests in Startup Bunker to Develop Gig Worker Insurance
Bunker and Chubb are working together to develop new insurance products focused on freelance workers. Chubb has also become a minority investor in Bunker, committing at least $2 million to the startup digital broker and its focus on the small …
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Internet Advertising by Unlicensed Marijuana Businesses Upset California Market
Online ads from unlicensed marijuana shops are creating turmoil in California’s emerging legal pot market. State regulators have warned the popular website Weedmaps to take down ads from illegal sellers or face possible penalties. But the company says it’s not …
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Arthur J. Gallagher & Co. Acquires McGregor & Associates in California
Arthur J. Gallagher & Co. has acquired McGregor & Associates in San Diego, Calif. Terms of the deal were not disclosed. George McGregor and his team will continue to operate from their San Diego location under the direction of Norbert …
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Flooding of East Coast Roads from High Tides Becoming Routine, Costly
High tide floods, or so-called “nuisance flooding,” that happen along shore roadways during seasonal high tides or minor wind events are occurring far more frequently than ever before. Researchers at the University of New Hampshire have found that in the …
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New Jersey Doctor Sentenced for Cheating Medicare, Insurers Out of $3M
A New Jersey doctor who defrauded Medicare and private insurers out of $3 million has been sentenced to three years in prison. Anthony Enrico, a podiatrist with offices in Paterson, Passaic, and Elizabeth, had pleaded guilty last October to health …
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Some Tornado Victims in Pennsylvania Struggle with Uninhabitable Homes
God put Brian Cross’s home in a bubble. That’s his explanation for why the tornado that blasted through Uniontown and North Union Township, Penn., last month didn’t inflict as much damage on his Millview Street home in the city as …
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New York Court Affirms Gas Company on the Hook for Environmental Cleanup Costs
The New York Court of Appeals has ruled that KeySpan Gas East Corporation is responsible for costs to clean up environmental contamination caused by manufactured gas plants owned by its predecessor during years when there was no pollution property damage …
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Uber Reaches Settlement with Family of Victim of Driverless Accident
The family of the woman killed by an Uber Technologies Inc. self-driving vehicle in Arizona has reached a settlement with the ride services company, ending a potential legal battle over the first fatality caused by an autonomous vehicle. Cristina Perez …
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Integro to Buy Lloyd’s Broker Tysers; Integro’s UK Wholesale Unit to Use Tysers’ Brand
Integro Insurance Brokers, the New York-based insurance brokerage and specialty risk management firm, announced it will acquire 100 percent of Hawkes Bay Holdings Ltd. (HBH), the privately owned parent company of Tysers & Co. Ltd., a specialist Lloyd’s broker. Further, …
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Specialty Insurer Fortegra Financial Corp. Launches EU Subsidiary in Malta
Fortegra Financial Corp., a Jacksonville-based international specialty insurer and subsidiary of Tiptree Financial, announced the creation of a wholly owned European subsidiary in Malta. The unit, called Fortegra Europe Insurance Co. Ltd. (FEIC), has received authorization from the Malta Financial …
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UK Regulators Seek to Reassure Insurers, Banks About Brexit Transition Period
U.K. financial regulators sought to reassure banks and insurers that they can rely on a transition period to ease their adjustment to Brexit, putting pressure on the European Union to do the same. The statements on Wednesday from the Bank …
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Former Chairman of China’s Anbang Pleads for Leniency in $10B Fraud Trial
The former chairman of China’s Anbang Insurance Group Co Ltd requested leniency at the end of his high-profile trial in Shanghai for alleged economic crimes, including fraud and embezzlement involving more than $10 billion, according to court statements. Wu Xiaohui …
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China’s Ping An Plans $3B IPO of Financial Management Portal OneConnect: Sources
Ping An Insurance (Group) Co., China’s largest insurer by market value, is starting preparations for an initial public offering of its OneConnect financial management portal that could raise as much as $3 billion, people with knowledge of the matter said. …
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SoftBank Edges Closer to Buying Stake in Swiss Re Valued at $9.6 Billion: Sources
Swiss Re AG jumped after people familiar with the matter said Japan’s SoftBank Group Corp. is edging closer to buying a stake in the company, valuing the reinsurer at as much as 37 billion francs ($39 billion). Billionaire Masayoshi Son’s …
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2018年3月28日星期三
Wildfires Cost Montana $240M In Visitor Spending, New Research Shows
University of Montana researchers say the 2017 fire season likely cost Montana about $240 million in visitor spending. The Institute for Tourism and Recreation Research said Tuesday that 12.5 million out-of-staters visited Montana last year and spent $3.36 billion. Economist …
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California Marijuana Resort is Asking People to Light up Privately
Plans to turn the old California ghost town of Nipton into a marijuana paradise are on the back burner for now, although visitors to the area an hour outside Las Vegas are still encouraged to toke up privately. David Gwyther, …
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Hanover Insurance Weighs Selling London Specialty Unit Chaucer
The Hanover Insurance Group is weighing the sale of its international specialty insurance business, London-based Chaucer. The Worcester, Mass.-based company issued a statement confirming that it “is undertaking a review of strategic alternatives, including a possible sale, for London-based Chaucer, …
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Brightway Insurance Opens New Agencies in Florida
Brightway Insurance continues to expand across the country, opening new stores in Florida, Michigan and Texas this month. Two new agencies were opened in Florida: Dave Lego became the new owner of Brightway, Julington Creek in St. Johns, Fla. Ryan …
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Ransomware Cyberattack Still Affecting City of Atlanta’s Computer Network
Atlanta’s mayor says the city continues to operate despite ongoing troubles caused by a cyberattack on its computer network last week. City officials announced Thursday that the city’s computer network had been attacked by ransomware that encrypted some city data. …
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3 Month-Old Oklahoma ‘Left Lane’ Law Results in Dozens of Citations
An Oklahoma law forbidding motorists on four-lane highways to impede traffic by traveling in the left lane has resulted in dozens of citations since going into effect last year. Records obtained by The Oklahoman show that 60 people were cited …
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Chicago’s Promont Insurance Advisors Names Sharkey Agency Sales Director
Chicago-based Promont Insurance Advisors, which specializes in hard-to-place coverages, has appointed Patti Sharkey as agency sales director. Sharkey’s expertise and experience provide a critical component in Promont’s mission to create and support coverage solutions for hard-to-place risks through excellent customer …
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Texas Sets Workers’ Comp Discount, Interest Rate at 5.58%
The Texas Department of Insurance, Division of Workers’ Compensation has set the workers’ comp interest/discount rate for April 1 through June 30, 2018, at 5.58 percent. This rate is computed by using the treasury constant maturity rate for one-year U.S. …
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Louisiana Bill Banning Forced Arbitration in Workplace Harassment Claims Fails
Louisiana lawmakers have jettisoned a measure that would have banned employers from requiring their workers to sign contracts that keep them from filing sexual harassment lawsuits in civil court. The House voted 50-42 against House Bill 578, with most Republicans …
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Schlitterbahn Co-Owner Arrested, Added to Kansas Waterslide Death Indictment
A water park company’s co-owner was being held in a Texas jail on murder and other charges on March 27 in connection to a Kansas criminal case in the death of a 10-year-old boy on what was promoted as the …
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How 2 University Researchers Hope to Protect Power Grid with Cyber Insurance Modeling
The failure of even parts of the nation’s power grid could cause rolling blackouts that paralyze health care, traffic and business systems. With the advent of “smart” infrastructures that send data to the internet, cybersecurity is becoming a prime concern …
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Family files Suit Over Teen’s Death After New Mexico Rodeo Competition
The family of a teenager who died after a bull riding competition is suing the organizers of the 2016 event. Brandon Charley died in Fruitland, N.M., while riding a bull named WhooWee. The lawsuit filed in state district court claims …
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Pot Landlord Sues Southern California City Over Marijuana Regulations
A woman who owns a business that claims to be California’s largest landlord of marijuana businesses sued the city of San Bernardino to overturn its pot regulation ordinance that could bar her from the industry. Stephanie Smith, the owner of …
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Uber Won’t Renew Autonomous-Vehicle License for California
Uber Technologies Inc. won’t renew a license to operate self-driving cars in California while the company evaluates how one of its vehicles killed a pedestrian in Arizona last week. The San Francisco-based company told the California Department of Motor Vehicles …
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U.S. Launches Investigation into Fatal Tesla Crash in California
A fatal crash and vehicle fire of a Tesla Inc Model X near Mountain View, Calif., last week has prompted a federal field investigation, the U.S. National Transportation Safety Board said, sparking a big selloff in Tesla stock. Late on …
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Federal Energy Regulator Warns on Cyber Attacks on Power Grid
Hackers increasingly threaten sites in the U.S. ranging from nuclear power plants to water processing systems, according to a member of the Federal Energy Regulatory Commission, adding his voice to warnings from several agencies and officials in recent weeks. “Cyberattacks …
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Uber Settles Employee Gender, Racial Bias Lawsuit for $10 Million
Uber Technologies Inc. has agreed to pay $10 million to settle a class-action lawsuit brought by two women engineers who accused the ride-services company of gender and race discrimination. The settlement, disclosed in a filing in the U.S. District Court …
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Working with Physicians, Cigna Cuts Prescription Opioid Use by 25%
Health insurer Cigna said it has achieved a 25 percent reduction in opioid use among its customers as a result of a partnership with more than 1.1 million prescribing physicians. The company said it reached this key metric one year …
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Penn State Frat Video Shows Pledges Being Plied with Alcohol
Security video shot in the basement of a Penn State fraternity house the night a pledge was fatally injured during an evening of hazing and drinking was played in court on Monday and shows fraternity members plying pledges with alcohol. …
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Lawsuit Advances Over Rotten Beams in Delaware Townhouses
A lawsuit against Delaware’s largest private landowner and other companies is moving forward, saying “systemic concealed defects” are threatening to collapse the terraces on 63 waterfront homes that were built in part with taxpayer dollars. The News Journal of Wilmington …
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Connecticut Homeowners Ask Legislature for Assistance on Bad Foundations
Connecticut homeowners said they need additional financial assistance to help with crumbling home foundations that threaten to collapse their houses. Dozens of homeowners arrived in Hartford on Monday to support a bill that proposes every insurance company cover the peril …
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AIG Launches Travel Insurance on Demand App in Canada
Travel Guard Group Canada, Inc., the Toronto-based subsidiary of AIG, has launched a travel insurance app allowing Canadian customers (except Quebec residents) to purchase coverage in blocks of time through their iPhone. Customers can now conveniently optimize travel insurance in …
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Arctic Winter Ice Covers 2nd Smallest Area on Record, Opening Region to Shipping
Winter sea ice on the Arctic Ocean covered the second smallest area on record this year, part of a thaw that is opening the region to shipping and oil exploration and may be disrupting weather far to the south, scientists …
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Final Loss Estimate for Australia’s Cyclone Debbie Is A$1.7B (US$1.3B): PERILS
The final property insurance loss estimate for Australia’s Tropical Cyclone Debbie is A$1.7 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Cyclone Debbie hit the Australian states of Queensland and New South …
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Brexit Effect: Lower Number of UK Financial Services Jobs Expected to Shift to EU
The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles, firms employing the bulk of UK-based workers in …
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How Will London’s Position as Global Financial Center Be Affected by Brexit?
Is London’s position as the largest international center of finance slipping as a result of Brexit? London has been a critical artery for the flow of money around the world for centuries. The financial services sector accounts for about 12 …
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Biggest Scandinavian Bank Lowers Debt Costs for Firms with Strong Cyber Defenses
Nordea Bank AB will start pricing debt products to reflect threats to data as the scandal engulfing Facebook Inc. redefines corporate risk. Mathias Leijon, co-head of corporate and investment banking at Nordea in Stockholm, says his team has been thinking …
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Anbang’s Former Chairman Goes on Trial, Accused of Masterminding $10.4B Fraud
A Shanghai court accused former Anbang Insurance Group Co. Chairman Wu Xiaohui of masterminding a 65.2 billion yuan ($10.4 billion) fraud, using unauthorized sales of investment-type policies to prop up the acquisitive company’s capital. Wu ordered up fraudulent financial statements …
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2018年3月27日星期二
Schlitterbahn, Former Park Operator Indicted in Kansas Waterslide Death
A Kansas waterslide hyped as the world’s highest was a “deadly weapon” that had already injured more than a dozen people before a 10-year-old boy was decapitated on it in 2016, according to a grand jury indictment unsealed on March …
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National Hurricane Center Gets New Leader
A meteorologist who aided emergency response efforts along the Gulf Coast after the 2010 oil spill has been tapped to lead the U.S. government’s hurricane forecasting hub in Miami. The National Oceanic and Atmospheric Administration announced Thursday that Kenneth Graham …
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Validus Specialty, Eagle Ocean America to Offer Marine Vessel Operator Coverage
The Marine & Upstream Energy insurance team of Validus Specialty Underwriting Services, Inc. has partnered with Eagle Ocean America, a full-service insurance facility operated by Eagle Ocean Agencies, to offer new hull, liability and ancillary covers to serve U.S. vessel …
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Chicago-Based Dentist Group Puts Teeth in Push to Curb Opioid Use
The American Dental Association, based in Chicago, wants dentists to drastically cut back on prescribing opioid painkillers. The association announced a new policy that “essentially says eliminate opioids from your arsenal if at all possible,” said Dr. Joseph Crowley, the …
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Holmes Murphy Expands Nebraska Main Street Program to Smaller Companies
Iowa-based Holmes Murphy has expanded Main Street, its captive insurance subsidiary built to give small businesses the same buying power as big corporations, to include businesses with 10 to 50 employees. Since its inception in 2014, Main Street has helped …
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Texas Oil Field Service Company Settles Oklahoma Pollution Lawsuit
A Texas-based oil field service company has settled a lawsuit with more than 100 southern Oklahoma residents who allege their homes and businesses were damaged by groundwater contamination caused by the company. Halliburton Energy Services acknowledges the pollution but disputes …
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Missouri Bill to Strengthen Workplace Arbitration Fails to Advance
A Missouri bill to strengthen employment contracts that require sexual harassment, discrimination and other work-related issues to be decided through arbitration has died an unusually early death that came as Congress considers moving in the opposite direction. At issue is …
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Workers’ Compensation Costs to Drop in Arkansas
Arkansas businesses will see a decrease in workers’ compensation insurance costs beginning in July. Arkansas Insurance Commissioner Allen Kerr today has approved a decrease in workers’ compensation cost of 15.4 percent in overall loss in the voluntary market and a …
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Fate of Flood-Control Projects’ Unclear 7 Months After Harvey
Large-scale projects long considered essential to easing Houston’s flooding woes went to the top of the area’s to-do list after Hurricane Harvey inundated large swaths of the nation’s fourth-largest city. Seven months later, local officials are still looking for funding …
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Startup Auto Insurer Root Raises $51 Million for Further Expansion
Columbus, Ohio-based auto insurer Root Insurance, which incorporates individual driver behavior data from mobile phone apps in every quote, announced the closing of a $51-million Series C funding round. Investors were led by Redpoint Ventures, with Scale Venture Partners and …
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Arizona Governor Halts Uber’s Self-Driving Car Testing
The governor of Arizona has suspended Uber’s ability to test self-driving cars on public roads in the state following a fatal crash last week that killed a 49-year-old pedestrian. The decision to block Uber Technologies Inc.’s autonomous testing is a …
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Markel Canada Appoints Crozier from Everest as President
Markel International, the specialist insurance subsidiary of Markel Corp., has appointed David A. Crozier to be president of Markel Canada, its business which operates across the country, with offices in Toronto, Montreal, Calgary and Vancouver. Crozier will take up his …
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Union Mutual of Vermont Companies Promotes Three
Union Mutual of Vermont Companies, a property and casualty insurance group, has promoted John W. Amick, Anna G. Coon and Emile F. Willett Jr. Amick was promoted to vice president of claims, and Coon was named executive communications coordinator and …
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Hartford Approves Deal for Connecticut to Pay City’s Debt
Hartford, Connecticut’s fiscally distressed capital city, will get a much-needed lifeline after its city council on Monday approved a deal to have the state pay its debt. The accord, part of a broader oversight plan that state lawmakers agreed to …
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New York Copter Straps That Trapped Riders May Have Also Cut Fuel
The pilot of the photo-tour helicopter that crash-landed in New York’s East River this month said a safety tether designed to keep passengers inside the open-door flight may have accidentally shut off the craft’s fuel, causing it to lose power. …
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Jury Orders AndroGel Maker AbbVie to Pay $3M After Judge Rejected $150M
A U.S. jury on Monday ordered AbbVie Inc. to pay more than $3 million to a man who claimed the company misrepresented the risks of its testosterone replacement drug AndroGel, causing him to suffer a heart attack, though the jury …
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More than 50,000 British Drivers Initiate ‘Dieselgate’ Suit Against VW
Lawyers for more than 50,000 British car owners kicked off a lawsuit against Volkswagen in London’s High Court on Tuesday in a battle for compensation over a diesel emissions scandal that has engulfed Europe’s largest carmaker since 2015. The three-day …
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Ryder Rolls Out Commercial Vehicle Sharing Program
The sharing economy is coming to the truck rental industry. Truck leasing and rental firm Ryder System is launching an online sharing platform that offers fleet owners with idle vehicles the opportunity to rent their underutilized commercial vehicles to other …
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Cyber Attacks Pose Biggest Threat to Swiss Financial System: Regulator
Cyber attacks pose the biggest threat to the Swiss financial system with risks from hacking incursions on the rise, watchdog FINMA warned on Tuesday, calling on Switzerland to step up its national defenses against the menace. “The risks connected with …
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TMK Launches Cyber & Services Cover, Protecting Clients Against Cyber Attack Impact
Tokio Marine Kiln (TMK), the London-based specialist and corporate insurance business, launched Cyber Ctrl, a new insurance and services policy to protect clients against the impact of cyber attacks. Addressing an overwhelming demand for more comprehensive coverage and prevention services, …
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Brazil Adopts Law Regulating Ride-Hailing Apps, with Insurance Requirement
Brazil President Michel Temer on Monday signed into law a bill regulating car-hailing apps like Uber without vetoing any provisions. The law will allow local governments to institute rules for the services, although Congress had voted to eliminate more stringent …
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Mastermind Behind ATM Malware Attacks Arrested in Spain
The mastermind behind malware attacks that programmed ATMs to spit out cash on demand and caused more than 1 billion euros ($1.2 billion) of losses, has been arrested in Spain. The leader of a criminal gang that carried out the …
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2018年3月26日星期一
Report on California Workers’ Comp Shows 227 Medical Providers Suspended
The California Department of Industrial Relations on Monday issued a progress report on its anti-fraud efforts, including updates on the suspension of 227 medical providers from treating California’s injured workers and the dismissal of 292,000 illegitimate liens with claims valued …
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IMA Names Ewing Chief Operations Officer in Colorado
The IMA Financial Group Inc. has named Anna Ewing chief operations officer. Ewing will oversee operational integration, business process optimization and human capital management to better align business initiatives within the insurance, wealth management and capital investment platforms of the …
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CIA-Leavitt in Colorado Adds Sipla as Agent
Colorado Springs, Colo.-based CIA-Leavitt Insurance Agency has named Kate Sipla as an insurance agent. She specializes in commercial insurance and employee benefits. Sipla previously sold software for SocialChorus, HVAC and mechanical services for commercial facilities at ABM, and office equipment …
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Kidde Recalls 500K Smoke Detectors
Nearly 500,000 smoke detectors are being recalled by the manufacturer, KIdde. Kidde has voluntarily recalled models PI2010 and PI9010 due to a defect, according to a Consumer Product Safety Commission (CPC) in a bulletin. About 452,000 of the units were …
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Lockton Acquires Benefits and Enrollment Firm E3 Solutions in Colorado
Lockton has acquired Jeff Connick and E3 Solutions to grow its employee benefits service offerings in the Mountain West region. Denver, Colo.-based E3 Solutions is an enrollment and benefits administration firm founded in 2014. Connick joins Lockton as a vice …
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Atlanta’s Computer Network Hit by Cyber Attack
City officials worked around the clock Friday to get things up and running again after a ransomware cyberattack that hobbled the city of Atlanta’s computer network last week. The city’s information security team noticed that something was amiss with the …
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Ocean International Reinsurance Opens Representative Office in Mexico
Ocean International Reinsurance Co. Ltd. has opened a representative office in Mexico to be headed by Rebecca Peña. The office was opened in Feb. 19, 2018, after receiving regulatory approval from Mexico’s National Insurance and Bonding Commission on Sept. 26, …
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1 in 4 Wisconsin Residents Binge Drink Once A Month, Study Shows
One-fourth of Wisconsin residents binge drink at least once a month, according to a new study from the U.S. Centers for Disease Control and Prevention. The study defined binge drinking as a woman having four or more drinks and a …
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Unextinguished Cigarettes Caused Fatal Fire in Minnesota, Investigators Say
Investigators say unextinguished cigarettes caused a fatal house fire in northeast Minneapolis last weekend. The Minneapolis Fire Department says the fire was started on the first floor by cigarettes that ignited a sofa in the living room. The cause of …
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Court Rules Release Form Protected Alaska Rafting Company in Man’s Death
A divided Alaska Supreme Court has sided with a river rafting company, deciding its release form protected it from liability in the 2013 death of a man on a rafting trip. The majority ruling, supported by three of the court’s …
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Jury Rules Montana Hospital Not Liable in Football Player’s Paralysis
A Montana hospital is not liable for the brain injury a 16-year-old Belt High School student suffered in a 2014 football game, a jury has ruled. Robert Back suffered a concussion on Sept. 5, 2014, and collapsed on the sidelines …
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Asbestos Concerns Halt Restoration of Century-Old Washington Hotel
Restoration work on a century-old former hotel in eastern Washington has been halted after air quality inspectors say they found signs of asbestos. The Spokesman-Review reported that the state Department of Labor and Industries stopped work on the Otis Hotel …
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5 Inured in Southern California Balcony Collapse
Four adults and a girl were injured after a second-story balcony collapsed at an apartment near downtown Los Angeles. The Los Angeles Fire Department says the South Park balcony collapsed, injuring three women, a man and a girl. The fire …
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Pinnacol Issues $50M in Dividends to Colorado Employers
Pinnacol Assurance is distributing $50 million in workers’ compensation dividend checks this month to its policyholders. Nearly 53,000 employers throughout the state will receive a dividend. Check amounts are calculated based on the policyholder’s premium size and performance. The average …
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Supreme Court Refuses to Hear Greenberg Appeal Over AIG Bailout
The U.S. Supreme Court on Monday handed a defeat to former American International Group Inc. CEO Maurice “Hank” Greenberg, refusing to hear an appeal he led arguing that the federal government illegally bailed out the insurer during the 2008 financial …
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In Reply to Cities’ Liability Suit, One Oil Firm Agrees Humans Causing Climate Change
A Chevron attorney said in court last Wednesday that the company supports scientific conclusions that humans are causing climate change, a response to a lawsuit that accuses five major energy producers of misleading the public for years about their role …
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Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’
The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative initiative of 15 global insurers and reinsurers who came …
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Students Lead March for Stronger Gun Safety Laws
Thousands of high school students and supporters gathered in Washington and across the U.S. Saturday to demand tougher gun laws from an older generation that’s delivered little change after years of mass shootings. Participants in the March for Our Lives …
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Assisted Living Facility Staffer Accused of Stealing Funds in New Jersey
Federal prosecutors say the business manager of an assisted living facility stole about $237,000 from an elderly victim under her care. Marcella Drakeford faces six counts of mail fraud. Prosecutors say that beginning in December 2016, Drakeford agreed to help …
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Doctor Says Penn State Pledge May Have Lived If Help Was Called Sooner
A forensic pathologist testified Friday that injuries that killed a Penn State fraternity pledge last year might not have been fatal if fraternity members had summoned help more quickly. Dr. Harry Kamerow took the stand in a preliminary hearing to …
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Worker Dies in Massachusetts Furnace Equipment Supplier Explosion
An explosion at a Massachusetts manufacturing facility has killed one worker and injured another. Officials say the man was an employee at Advanced Vacuum Systems in Ayer, about 40 miles northwest of Boston. The Middlesex District Attorney’s office says its …
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Aon’s Mullen to Re-Join Artex Risk Solutions as CEO
Artex Risk Solutions announced that Peter Mullen will be re-joining the company in March 2019 as CEO-elect. He will step into the role once he has fulfilled his contractual obligations to Aon Captive & Insurance Management, where he has been …
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Cash-Strapped Papua New Guinea Gov’t Struggles to Help Desperate Quake Survivors
Almost a month after a deadly earthquake, Papua New Guinea is struggling to get aid to desperate survivors, having allocated just a fraction of its relief funds, while a rent dispute left disaster officials briefly locked out of their offices. …
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Legacy Acquirer DARAG Forms Partnership with Asset Manager New Nordic Advisors
DARAG, the European legacy acquirer, and New Nordic Advisors, a London-headquartered investment management company, announced the formation of a strategic partnership. DARAG and New Nordic will join forces in a number of areas, including the provision of legacy, active business …
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BHSI Opens Perth Office; Chubb’s Prindiville & Shepard Named P/C Underwriters
Berkshire Hathaway Specialty Insurance (BHSI) announced it has opened an office in Perth, Western Australia, naming Anthony Prindiville to lead its casualty underwriting and Mark Shepard to lead property underwriting there. “Expanding our footprint into Western Australia will enhance our …
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2018年3月25日星期日
Federal Flood Insurance Renewed Through July But Reforms Stall
Advocates who have been pushing for renewal of the U.S. federal flood insurance programs in the wake of last year’s devastating hurricanes and floods praised Congress for extending the program through July 31. But advocates remained concerned that Congress has …
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2018年3月23日星期五
The Death of Underwriting and Underwriters
Underwriting is not dying. It is just being automated into digital algorithms versus analog human beings. Technology’s effect on life insurance underwriting is easiest to show by example. It is also further advanced in many ways. For example, what if …
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IAT Insurance Acquires Excess and Umbrella Business from Rockhill Insurance
IAT Insurance Group (IAT) has reached a definitive agreement to acquire the renewal rights and certain associated assets for a book of surplus lines excess and umbrella insurance business from Rockhill Insurance Group. Rockhill is a subsidiary of State Auto …
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Liquidation Order Issued for Auto Insurer with More Than 42K Policies in Pennsylvania
A Texas court has issued an order of liquidation for Access Insurance Company, an auto insurer that has 42,785 policies in Pennsylvania. This means Pennsylvanians that currently have auto insurance through Access Insurance will have no later than April 12 …
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Hamilton Re’s Chief Underwriting Officer Lefebvre to Leave Company
Hamilton Re Ltd., the Bermuda platform for Hamilton Insurance Group, announced that Claude Lefebvre, chief underwriting officer, Partnerships & Casualty Reinsurance, will be leaving the company to pursue other interests. Lefebvre, who was a founding member of Hamilton Re, has …
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Chinese Tech Giant Baidu to Test Self-Driving Cars in Beijing
China’s capital city has given the green light to tech giant Baidu Inc to test self-driving cars on city streets, an important step as the country looks to bolster its position in the global race for autonomous vehicles. Beijing has …
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Bank of England Will Update Insurers, Banks on Latest Brexit Approach
The Bank of England said it would update banks and insurers next week on its approach to Brexit given that Britain and the European Union have now adopted a transition deal. “The Bank of England welcomes the EU Council’s conclusion …
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Utah Subway Shop Suit over Wrongly Accused Worker Dismissed
A judge has dismissed a defamation lawsuit filed by owners of a Utah Subway shop where a worker was wrongly accused of drugging a police officer’s drink. U.S. District Judge Dee Benson ruled that police in Layton did not implicate …
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Utah Governor Signs Legislation Allowing Terminally Ill to Use Pot
Utah Gov. Gary Herbert has signed a bill allowing terminally ill people to use certain forms of marijuana. Herbert’s office announced Wednesday that he signed the measure allowing people to use the drug if a doctor has determined they have …
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California Chief Justice Expects an Influx Of Wildfire Claims
California courts are preparing for an influx of lawsuits tied to last year’s historically destructive wildfires and mudslides, Chief Justice Tani Cantil-Sakauye told lawmakers this week in her annual “state of the judiciary” address. Cantil-Sakauye, who has sparred with President …
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Arsenic in Groundwater? Virginia Coal Ash Case Before Court
Virginia’s largest electric utility asked a federal appeals court Wednesday to overturn a judge’s ruling that the company is violating federal law by discharging arsenic through groundwater into surrounding waters from a coal ash storage site. Dominion Energy argued before …
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Thousands Without Power in New Jersey After Latest Storm
Thousands of utility customers remain without power in New Jersey following the fourth major storm to hit the state in three weeks. The storm dropped around a foot of snow in some parts before leaving the region early Thursday, with …
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Walgreens Agrees to $5.5M Settlement with Massachusetts
Pharmacy chain Walgreens Co. has agreed to pay $5.5 million to resolve allegations that it overcharged for prescriptions covered by the Massachusetts workers’ compensation insurance system. State Attorney General Maura Healey says the “settlement ensures that Walgreens does not profit …
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Attritional Losses Take Their Toll at Lloyd’s, Along with 2017’s Natural Catastrophes
The Lloyd’s market’s pre-tax loss of £2 billion (US$2.8 billion) in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued deterioration in its attritional, or non-catastrophe losses …
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Cloud-Based Insurtech Startup Insly Raises €2.2M ($2.7M) in Funding
Insly, a cloud-based insurance platform, announced an investment of €2.2 million (US$2.7 million), led by Concentric and Black Pearls VC. Founded in 2015, Insly offers insurance policy management for insurance brokers and agents, as well as MGAs and wholesale. The …
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China’s Fosun Still Interested in Acquiring Greek Insurer if Winning Bid Collapses
Fosun International Ltd came up short in its bid to buy National Bank of Greece SA’s insurance unit, but the Chinese conglomerate is still willing to swoop in if the winning bid collapses, albeit at a different price this time. …
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2018年3月22日星期四
Uber’s Self-Driving Cars Insured by Old Republic
Old Republic International Corp., the Chicago-based insurer, provides commercial liability coverage of as much as $5 million for each of Uber Technologies Inc.’s self-driving vehicles. The policy covers bodily injury, death and property damage, an Uber spokeswoman said on Wednesday. …
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Daughter of Pedestrian Killed by Uber Driverless Car Hires Lawyer
The daughter of the woman killed by an Uber self-driving vehicle in Arizona has retained a personal injury lawyer, underlying the potential high stakes of the first fatality caused by an autonomous vehicle. The law firm of Bellah Perez in …
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JLT Specialty USA Names Dobos Leader of West Coast M&A Group
JLT Specialty USA has named Ted Dobos executive vice president and leader of JLT’s West Coast mergers and acquisitions practice. Dobos will be based in San Francisco, Calif. He has more than 25 years of finance, technology and insurance industry …
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$250K in Stolen Property Uncovered in Oklahoma Burglary Raid
An investigation continues in east-central Oklahoma after deputies found about $250,000 in stolen property while raiding a burglary stash house. The Shawnee News-Star reports that some of the stolen items discovered by Lincoln County deputies include several Purple Hearts, military …
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Michigan Oral Surgery Practice to Pay $47K to Settle Age Discrimination Suit
A Southfield, Mich.-based oral surgery practice will pay $47,000 to settle an age discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC’s lawsuit charged that Professional Endodontics P.C. violated federal law by …
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A.M. Best Removes from Under Review, Upgrades Ratings of Great Plains Casualty
A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” from “bbb+” of Great Plains Casualty Inc. (Great Plains) in …
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Amended Arkansas Open Container Law Approved
An Arkansas bill amending language in the state’s open container statute to comply with federal law has been passed by lawmakers and signed by the governor. Just last year the state passed an open container law making it illegal for …
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Oppenheim Named Partner at JLT Specialty’s Construction Risk Partners
JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), appointed Jon Oppenheim as partner to Construction Risk Partners. Based in Atlanta, Oppenheim will be a key leader in the development of JLT’s national construction practice, the …
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Brown, Keith Promoted at TDECU Insurance Agency in Texas
TDECU Insurance Agency LLC, based in Lake Jackson, Texas, has promoted Brooke Brown and Toni Keith. With more than 16 years of experience, including four years with TDECU Insurance Agency, Brown will now serve as the agency’s Personal Lines manager. …
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Legislation to Combat Online Sex Trafficking Clears Congress; Moves to President
Congress passed a bill to combat online sex trafficking that has split the tech industry, bringing one of the first measures to weaken legal protection for websites closer to becoming law as Big Tech faces a mounting backlash in Washington. …
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County in Utah Filed Suit Against Drugmakers, Doctors in Opioid Crisis
Officials of a northern Utah county are suing drug manufacturers, distributors and doctors in an effort to mitigate the consequences of the nation’s opioid crisis. Summit County has filed a lawsuit in state district court against 25 companies and individuals, …
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Oahu Has Seen A High Number of Crash Fatalities in 2018
Police say a fatal motorcycle crash has brought Oahu’s number of deadly crashes this year to 15. Police said the total is almost double last year at this time for the Hawaiian island, when eight traffic deaths were counted. The …
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Women Sue Utah City, Former Chief Over Misconduct Allegations
Five women claimed in a lawsuit that the city of Provo, Utah and former Mayor John Curtis failed to take action to protect them from alleged sexual harassment and assault by the city’s former police chief. The city and mayor …
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California Jury Awards $2.3M to Former Pitcher in Hand Injury Lawsuit
A Northern California jury has awarded $2.3 million to a former Major League Baseball pitcher injured after confronting a man high on LSD trying to break into his home. Greg Reynold’s attorney, Niall McCarthy, says a San Mateo County jury …
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Pool Re to Extend Terrorism Cover to Include Non-Damage Business Interruption
Pool Re welcomed the UK government’s commitment to amend the 1993 Reinsurance (Acts of Terrorism) Act to enable it to extend its cover to include non-damage business interruption losses resulting from acts of terrorism. The reinsurer is currently restricted by …
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Spring Nor’easter Targets Northeast with Heavy Snow, Winds
A spring nor’easter targeted the Northeast on Wednesday with strong winds and a foot or more of snow expected in some parts of the region. Airlines canceled flights and schools canceled classes ahead of the fourth major storm in three …
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Conviction Stands for Delaware Murder-for-Hire Mastermind
Delaware’s top court has denied the appeal of the man convicted of masterminding the murder-for-hire killings of his business partner and the partner’s wife. The News Journal reports the Delaware Supreme Court ruled Tuesday that Christopher Rivers’ first-degree murder conviction …
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Lemonade Enters Pennsylvania, Washington D.C. in National Expansion
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, has launched in both Pennsylvania and Washington D.C. It announced the expansion on social media. These mark the sixth and seventh states in which the company currently offers renters, …
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New York’s Broome Co-operative Taps New Leadership After CEO’s Retirement
Broome Co-operative Insurance Company, a Vestal, N.Y.-based regional property and casualty insurance company, has announced two senior leadership changes following the retirement of President and CEO Steven Coffey. Following Coffey’s retirement, Siobhan Davey has been named president and CEO, and …
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Police Release Video of Fatal Collision of Uber Driverless Vehicle with Pedestrian
Police in Arizona on Wednesday released a short video of a fatal collision between an Uber self-driving vehicle and a pedestrian, as investigators probe the accident that has put new focus on the safety of autonomous vehicles. The video, taken …
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ISO Says Cyber Insurance Program Now Available in 42 States
ISO’s cyber insurance program is now available to insurers in 42 states and U.S. territories. The ISO program features advisory loss costs using 17 different rating variables, which the Verisk company says is more than three times the number of …
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European Insurtech Investment Growth Surpasses North America in 2017: Accenture
Global investment in the insurance technology (insurtech) industry surged in 2017, with Europe emerging as a new insurtech hub outside the U.S., according to new research from Accenture. The research, which includes new analysis of CB Insights data on insurtech …
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Driving in Snow: Difficult for Humans and Driverless Cars
A Canadian town known for its annual theater festival is emerging as a hub of “snowtonomous” research, as automakers face demands to produce self-driving cars that can perform in snow and sleet. But testing driverless cars in cold climates brings …
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Facebook Will Dodge EU’s Tough New Data Rules – as GDPR Is Effective in May
Markets had already delivered their verdict before the European Union’s data privacy watchdogs could express outrage toward Facebook Inc. And while the social media giant lost as much as $60 billion in value earlier this week, Facebook is set to …
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Aon Benfield Bermuda Hires Carpenter’s Meyenhofer as CEO; Fox & Davies Promoted
Aon Benfield announced a new hire and expanded roles for its reinsurance team in Bermuda. Matthias Meyenhofer will join the firm on Sept. 1, in accordance with his existing contractual requirements, as chief executive officer of Aon Benfield Bermuda, subject …
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Deloitte Tap Europol’s Wainwright to Help Run Cyber-Security Practice
Europol Executive Director Rob Wainwright is leaving the EU intelligence agency he’s led for almost a decade to help run Deloitte LLP’s cyber-security practice, as companies wake up to the growing “systemic” threat of cyber crime. The 50-year-old MI5 veteran …
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2018年3月21日星期三
Willis Towers Watson Adds Chmielesk, Beasley to Corporate Health Care Team
Willis Towers Watson announced two senior appointments within its Corporate Risk and Broking (CRB) segment to strengthen its health care platform. Sue Chmieleski has been appointed health care industry leader, North America, CRB, where she will be responsible for strategy …
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Severe Storms Spawn Tornadoes, Damage Homes in Southeast
Severe storms that spawned tornadoes damaged homes and downed trees as they moved across the Southeast on Monday night. Forecasters warned that the storms could threaten more than 29 million people, raising the risk of powerful tornadoes, damaging winds and …
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Arkansas Cities Are Focus of Study on Limiting Pedestrian Deaths
A federally funded study focusing on two Arkansas cities will serve as an outline for statewide efforts to reduce pedestrian deaths. Two metropolitan planning organizations in Jonesboro and Little Rock are sharing a $100,000 grant from the Federal Highway Administration …
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Outlooks Revised to Stable for Louisiana’s Stonetrust Commercial Insurance
A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of workers’ compensation insurer, Stonetrust Commercial Insurance Co. (Stonetrust), headquartered in Baton Rouge, …
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Damage Cap Upheld in Fatal 2015 North Dakota School/Bus Train Crash
The North Dakota Supreme Court has upheld a $500,000 cap on damages in a 2015 fatal school bus-train crash near Larimore. The bus driver and a student died when the Larimore school bus with 13 students collided with a BNSF …
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Lawyer: Ex-Kansas VA Worker Subject of Nearly 100 Sex Abuse Lawsuits
The number of lawsuits accusing a former physician assistant at a Veteran’s Administration hospital in Kansas of sexual abuse is approaching 100. The Wichita Eagle reports that Kansas City attorneys Dan Curry and Sarah Brown filed three more lawsuits last …
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$1.8M Settlement Proposed for Teen Hurt on Broken Ohio Fair Ride
A young woman critically injured in a deadly ride accident at the Ohio State Fair would get nearly $1.8 million in a proposed settlement of her claims against the ride operator and companies that had inspected it. A carriage on …
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Hornsby Named VP, Business Development for Plexas Groupe in Dallas
Illinois-headquartered national insurance brokerage and risk management consultancy ,The Plexus Groupe (Plexus), has hired sales executive Wes Hornsby as a vice president of Business Development. Hornsby is based in Dallas. Hornsby brings more than 20 years of sales leadership, business …
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UK Broker Group BIBA Forms Agreement with WBN to Help EU Clients After Brexit
The British Insurance Brokers’ Association (BIBA) has formed an agreement with the Worldwide Broker Network (WBN) so that BIBA’s UK-based brokers are introduced to WBN’s EU-based brokers — thereby enabling continuity for BIBA members’ EU clients after Brexit. WBN has …
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DWI Fatalities New Mexico Fell 16 Percent in a Year
New Mexico’s DWI fatalities dropped 16 percent in 2017 from the previous year. Gov. Susana Martinez announced the decrease of alcohol-related fatalities from 173 in 2016 to 145 in 2017 on Friday as she said law enforcement agencies across the …
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Parent of Utah Child with Down Syndrome Suing Boy Scouts
The father of a boy who has Down syndrome is suing the Boys Scouts of America for blocking his son from becoming an Eagle scout and revoking his merit badges. Logan Blythe has been a scout through the National Parks …
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Arizona Sees No Need to Tighten Rules on Self-Driving Cars After Uber Fatality
Arizona officials said on Tuesday they saw no immediate need to tighten rules on the testing of self-driving cars in the state in reaction to a fatal accident involving an Uber autonomous vehicle that has focused attention on the safety …
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Chipmaker AMD to Release Patches to Fix Microprocessor Vulnerabilities
Chipmaker Advanced Micro Devices Inc. said on Tuesday it planned to release patches to fix some of the flaws in its microprocessors pointed out by CTS Labs last week. Israeli cyber security research firm CTS Labs in its report said …
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Lloyd’s CEO Warns Insurance Policies at Risk Under Brexit
Lloyd’s of London Chief Executive Officer Inga Beale said insurance contracts across Europe will remain at risk unless there’s an agreement on how they should be treated in post-Brexit Europe. “Regulators across Europe can actually come to an agreement themselves …
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Agency Best Practices for Avoiding, Rather Than Winning, E&O Suits
Insurance agents and brokers have long been targets of error and omission lawsuits. It’s also true that most agents and brokers have sought advice of counsel as to how to win a lawsuit. They will often be told that the …
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Continuity of Europe’s Insurance Contracts at Risk Without Brexit Agreement: Lloyd’s CEO
Lloyd’s of London Chief Executive Officer Inga Beale said insurance contracts across Europe will remain at risk unless there’s an agreement on how they should be treated in post-Brexit Europe. “Regulators across Europe can actually come to an agreement themselves …
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SIAA Hires Klemm as a Contracts Compliance Manager in New Hampshire
SIAA (Strategic Insurance Agency Alliance) has hired Gretchen Klemm as a contracts compliance manager at its Hampton, N.H., location. In this role, Klemm will manage the day-to-day interactions with independent agency members relative to their ongoing commitments. Prior to joining …
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Keating Adds Workers’ Comp Team in Pennsylvania and Massaschusetts
Keating Inc., a specialty property and casualty insurance distribution company in the U.S., has hired Tim Palmer as a national managing partner within its workers’ compensation practice. Palmer brings with him a team of brokers to manage and expand business …
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Big Oil to Face Questions on Climate Change as Cities’ Abatement Lawsuit Proceeds
Five of the world’s biggest energy producers will be questioned by a federal judge on Wednesday about climate change science, part of a lawsuit that accuses the companies of misleading the public for years about their role in global warming. …
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Anbang’s Plans for Waldorf Astoria Call for Fewer Luxury Condos
It’s official: Anbang Insurance Group Co. has filed a plan for the luxury condos it’s developing at Manhattan’s Waldorf Astoria, and it calls for fewer apartments than the company initially aimed for. The Chinese insurer’s project to convert many of …
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Foreign Insurers Benefit as China Tightens Rules on Local Firms
When Zhang Xixi, a 25-year-old staffer at an online financial company in China’s southern province of Guangdong, decided last year to buy personal insurance for the first time, he was swamped with options. Local insurers rushed to offer him products …
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NuTonomy Temporarily Halts Self-Driving Tests After Boston Asks
Self-driving startup NuTonomy halted its pilot tests on Boston’s public roads after city officials requested a pause following the death of a pedestrian struck by a self-driving Uber Technologies Inc. vehicle in Tempe, Arizona. “We are working with City of …
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China Names Guo as New Insurance Regulator
China has named Guo Shuqing as the head of the newly formed regulator for the banking and insurance sectors, financial publication Caixin reported on Wednesday without citing a direct source. Guo had been the head of the China Banking Regulatory …
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More School Districts Buying Active Shooter Insurance
Insurance broker Paul Marshall can count on his phone ringing in the aftermath of a school shooting. Since the Feb. 14 shooting at a Florida high school, where 17 people were killed and more than a dozen injured, seven South …
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Judge Says President Trump Not Immune to Defamation Lawsuit Tied to ‘Unofficial Conduct’
A New York state judge on Tuesday said U.S. President Donald Trump must face a defamation lawsuit by a woman who accused him of sexually harassing her after she appeared on his former reality TV show. The decision by Justice …
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Here Come the Mini-Flying Machines
Researchers at the Massachusetts Institute of Technology (MIT) have found a way to combine utrathin electronics with miniature particles, moving a step closer to creating microscopic machines, or tiny floating robots, that could be used to probe the human gut …
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Pembroke Managing Agency Gets Nod to Manage Lloyd’s Syndicate for India’s GIC Re
Pembroke Managing Agency Ltd., the London-based subsidiary of Ironshore, has been granted approval by Lloyd’s to establish and manage a syndicate for India’s GIC Re. GIC Syndicate 1947 has been granted permission to underwrite business, attaching on or after April …
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2018年3月20日星期二
How to Clear Your Driving Record and Save On Insurance
A bad driving record comes with consequences, none of them good. One of the most well-known negatives is that, when a ding to your record your car insurance rates can go up. Fortunately, you may be able to do something about it. The Point Syst...
from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles
Will Your Car Insurance Cover You Out of State?
As spring and summer head our way, you may be planning a cross-country drive. A common concern with drivers is whether or not their auto insurance policy will cover them if they are in an accident out-of-state. Unless you’re traveling to a f...
from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles
Woodruff-Sawyer Names DeVilbiss of Travelers P/C Leader in California
Woodruff-Sawyer & Co. has named Joel DeVilbiss the San Francisco, Calif. property/casualty practice leader. DeVilbiss is charged with driving the direction and development of Woodruff-Sawyer’s P/C practice in Northern California and has oversight of client service activities. He began his …
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Startup Agency Gabi CEO: ‘We Don’t Want to Eliminate Agents’
Editor’s Note: On Feb. 21, Insurance Journal reported on online personal lines insurance startup Gabi’s latest fundraising. (Personal Insurance Site Gabi Raises $9.5 Million; Now Selling in 6 States). In its description of Gabi’s business model, Insurance Journal wrote that …
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Tennessee Fines Chemical Plant $25K Over Hydrogen Explosion
Tennessee regulators have fined a chemical plant $25,000 for an explosion that shut down an interstate and put several schools on lockdown. WRCB-TV reported that the Tennessee Occupational Safety and Health Administration cited Wacker Chemie for seven violations stemming from …
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Amarillo Hospital-Area Fire Causes Smoke Damage but no Buildings Burned
A wildfire that burned around 500 acres inside the city limits of Amarillo, Texas, has been contained but not before threatening the city’s regional medical center. The fire was one of several that have plagued the Texas panhandle in the …
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Service Insurance Holdings Acquires Oklahoma’s American Healthcare Indemnity
Service Insurance Holdings Inc. (SIHI), parent of Texas-based workers’ compensation insurer, Service Lloyds Insurance Co., has acquired American Healthcare Indemnity Co. (AHIC), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Co. The acquisition is a …
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Startup California Construction Company Working on Robotic Vehicles
As a teenager working for his dad’s construction business, Noah Ready-Campbell dreamed that robots could take over the dirty, tedious parts of his job, such as digging and leveling soil for building projects. Now the former Google engineer is turning …
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California Utilities Commissioner Wants to Regulate Uber Like Tour Buses, Limos
Uber Technologies Inc. should be classified as the same type of transportation as limousines and tour buses, a California regulator said on Monday in a proposal that could change how the ride-hailing company is regulated in its home state. A …
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Arizona Became Autonomous Hotbed Prior to Uber’s Deadly Crash
The technology behind autonomous vehicles has originated from coders in Silicon Valley, engineers in Detroit and academic researchers in Pittsburgh. Much of it eventually lands on the streets of Arizona, a state that’s done more than any other to welcome …
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How Bad Was P/C Insurers’ Underwriting Loss in 2017?
The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The 2017 underwriting loss was mainly due …
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Former Federal Insurance Chief McRaith Joins Blacsktone’s New Insurance Investment Team
Michael McRaith, former director of the U.S. Department of the Treasury’s Federal Insurance Office (FIO), has been named managing director for Blackstone Insurance Solutions (BIS), a newly formed business offering Blackstone’s investment management services to insurers. McRaith’s appointment follows Blackstone’s …
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Grandisson Named CEO of Arch Capital, Succeeding Iordanou Who Has Retired
Marc Grandisson is the new CEO of Arch Capital Group. Ltd., following the previously announced retirement of longtime leader Constantine “Dinos” Iordanou. Arch disclosed in a regulatory filing that Grandisson, 50, most recently president and chief operating officer, has been …
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New York’s Senators Call for Probe of FAA Approval of Doors-Off Flights
New York’s senators are calling for a probe into how “doors-off” helicopter sightseeing flights and the tight harness systems were ever approved by the Federal Aviation Administration in the first place. U.S. Sens. Charles Schumer and Kirsten Gillibrand made the …
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Lloyd’s Appoints Black as Northeast Region Market Development Lead
Lloyd’s, a global specialist insurance and reinsurance market, has appointed Dawnmarie Black as the market development lead for Lloyd’s Northeast region. She will be based in the Boston, Mass., area in her new role and will be responsible for market …
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Massachusetts’ The Arbella Insurance Group Promotes Ramirez
The Arbella Insurance Group, a regional property and casualty insurance company headquartered in Quincy, Mass., has appointed Lynellen Ramirez to chief actuary and senior vice president of research analytics. In this position, Ramirez is responsible for actuarial, research analytics, data …
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Gallagher Bassett Appoints Simon Pemberton as UK Chief Executive Officer
Gallagher Bassett, the risk management services subsidiary of Arthur J. Gallagher, announced that Simon Pemberton will step into the role of CEO, Gallagher Bassett UK, on April 1, 2018. Nick Bonser, the current Gallagher Bassett (GB) UK managing director, announced …
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JLT Specialty USA Names Marsh’s Forbes as Senior Vice President for U.S. Property
Global specialty broker JLT Specialty USA said it has appointed Josh Forbes as senior vice president with its U.S. property team. Forbes will serve real estate clients by leveraging his experience in the field. Based in New York, Forbes brings …
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New European Privacy Rules (GDPR) Pose Major Challenge for Facebook
Facebook faces substantial business risks from new European Union privacy rules set to take effect in May, a looming reality that came into stark relief over the weekend with revelations that a controversial political consulting firm had improperly obtained personal …
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Uber Drivers in Turkey Fear for Lives After Alleged Attacks by Traditional Cab Drivers
An Uber driver keeps a metal rod close at hand during his daily drives through Istanbul. Alarmed by violent attacks in recent weeks allegedly carried out by angry yellow cab drivers who want Turkey to ban the ride-hailing company, Levent …
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from News – Insurance Journal
AXA Investment Managers Bullish About Europe as Asian Investors’ Interest Grows
Andrea Rossi doesn’t buy into the story that Europe is a dead end for growth. In fact, he sees luring Asian investors to his continent as one of the key ways AXA Investment Managers will expand in years to come. …
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from News – Insurance Journal
UK Insurers, Banks Push Ahead with Relocating HQs – Despite Brexit Transition Deal
London-based banks and other financial firms won’t put their Brexit moves on hold despite a transition deal between Britain and the European Union as it lacks full legal certainty, industry officials said on Monday. Banks and insurers have said they …
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EU Eyes Offering `Improved Equivalence’ for UK Financial Services After Brexit
The European Union will consider offering the U.K. “improved equivalence” for financial services after Brexit, according to the bloc’s latest negotiating guidelines, a system Britain has rejected as “wholly inadequate.” The addition to the draft guidelines, obtained by Bloomberg, makes …
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2018年3月19日星期一
Survey: Houston, Dallas Worst Cities for Towing Hassles
Houston and Dallas rank number one and two on the list of U.S. cities with the most hostile towing markets for consumers, and Texas is the state most in need of pro-consumer towing reforms, according to a national towing survey …
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from News – Insurance Journal
Wisconsin Study: Helmets Reduce Neck Injuries in Motorcycle Crashes
A study of University of Wisconsin Hospital trauma patients found that motorcyclists who don’t wear helmets are twice as likely to suffer neck injuries in crashes compared to those who use helmets. The study looked at more than 1,000 patients …
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Bussard Promoted to Underwriter at Arlington/Roe in Ohio
Jennifer Bussard has been promoted to commercial lines underwriter at the Ohio office of managing general agency and wholesale insurance broker Arlington/Roe. Bussard is a graduate of Franklin University and holds the Associate in Insurance Services (AIS), Associate in General …
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35 Counties in Indiana Designated Disaster Areas, Cancellation Moratorium in Place
On March 16 Gov. Eric Holcomb declared four more counties as disaster areas, bringing to of 35 the number of counties covered by disaster emergency declarations issued since Feb. 24. The state has been beset by widespread flooding and infrastructure …
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Uber Halts Road Tests After Autonomous Car Hits, Kills Pedestrian in Arizona
Uber Technologies Inc. halted autonomous vehicle tests after one of its cars struck and killed a woman in Tempe, Arizona, in what is likely the first pedestrian fatality involving the technology. The woman was crossing the road outside of a …
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from News – Insurance Journal
UK Government, Regulators to Examine Potential Risks from Cryptocurrencies
Britain’s government and regulators will look in detail at the potential risks from cryptocurrencies like bitcoin, British junior finance minister John Glen said on Monday. Glen said there had been an “explosion of growth” in crypto assets like bitcoin, which …
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Title Insurer Amrock’s Lawsuit Backfires to Tune of $706M
An affiliate of mortgage-lending firm Quicken Loans Inc. filed a fraud suit to back out of a software deal with a housing data-analytics firm, serving the complaint at a trade show in front of the startup’s customers and calling the …
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State Commissioners Assist Puerto Rico Insurance Department
The National Association of Insurance Commissioners (NAIC) says that since January, 10 state insurance departments have sent more than 20 regulators and NAIC has sent staff to support the office of Puerto Rico’s insurance commissioner. Puerto Rico has been recovering …
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Spinner Joins Creative Risk Solutions in Des Moines
John Spinner as joined the Creative Risk Solutions (CRS) team as an assistant vice president in Des Moines, Iowa. CRS is a subsidiary of Holmes Murphy & Associates. Spinner will lead the client services team at CRS, where he will …
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FAA Grounds ‘Doors-Off’ Helicopter Tours After New York Crash
Federal aviation regulators are grounding “doors-off” helicopter tour flights in which passengers are tethered to the aircraft as a result of the March 11 crash in New York that killed five people. The Federal Aviation Administration is taking immediate actions …
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Jury Awards $33.5M to Parents of California Man Killed by Deputy
A federal court jury has awarded $33.5 million in damages to the parents of a man who was fatally shot by a Southern California sheriff’s deputy in November 2015. The jury found that the San Bernardino County deputy unreasonably detained …
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Why Storm-Prone States Continue to Bypass Tough Building Codes
The showdown in the Florida statehouse last year had all the drama of a knock-down political brawl: Powerful industries clashing. Warnings of death and destruction. And a surprise last-minute vote, delivering a sweeping reform bill to the governor’s desk. The …
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California Couple to Get $2.5M After Called Abduction a Hoax
A couple has reached a $2.5 million settlement with a Northern California city and its police department after investigators dismissed her bizarre kidnapping as a hoax. Police in the city of Vallejo initially discounted a report by Denise Huskins and …
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from News – Insurance Journal
12 Arizona Counties Re-Designated Natural Disaster Areas
The U.S. Department of Agriculture announced the re-designation of 12 Arizona counties as primary natural disaster areas due to losses and damages caused by recent drought. The Mohave Valley Daily News reported farmers in eligible counties have eight months to …
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California Workers’ Compensation Institute Elects 2018 Board
Rose Barrett of the Berkshire Hathaway Group was elected chair of the California Workers’ Compensation Institute board of directors for 2018. Barrett was first elected to the CWCI board as a representative of AIG in 2014 and has been a …
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California Says Insurers Must Pass Tax Savings on to Policyholders
Insurance companies writing in California were sent a notice by the California Department of Insurance reminding them that under Proposition 103 their rates must not be excessive, inadequate, or unfairly discriminatory. The recent revision to the Federal Tax Schedule for …
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from News – Insurance Journal
UK, EU Agree to 21-Month Brexit Transition Period; Clock Starts Ticking in March 2019
The U.K. clinched a deal that will buy it time in Brexit talks in a move the European Union’s chief negotiator hailed as a decisive step. But it’s all still contingent on finding a solution to the most intractable issue …
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Wildfires in Southeast Australia Destroy More Than 70 Homes, Kill Livestock
More than 70 homes were destroyed as bushfires swept through the seaside town of Tathra in southeastern Australia at the weekend. Soaring temperatures and wind gusts fanned the fires about 500 kilometers (310 miles) south of Sydney, causing the blaze …
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Title Insurer Fidelity National to Buy Competitor Stewart for $1.2 Billion
Title insurer Fidelity National Financial Inc. has agreed to acquire Stewart Information Services Corp. for approximately $1.2 billion. The consideration will be $50 per share of common stick, paid 50 percent in cash and 50 percent in FNF common stock. …
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Helicopter Trade Group Had Fought Open-Door Tours for Years
The leading trade group for helicopter operators has, for at least two years, urged a halt to open-door tours such as the one that ended in the death of five people in the East River off Manhattan on March 11. …
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Massachusetts Court: Merck Can Be Sued Over Generic Drug Injury
Massachusetts’ top court on Friday opened the door for consumers to sue Merck & Co Inc and other makers of brand-name drugs over injuries blamed not on their own medications but on generic versions of their treatments made by other …
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Brit Names Walker from Marsh as Head of UK Property
Brit Ltd. announced it has appointed Neil Walker as head of UK Property. In this role, Walker reports to Tom Hillier, divisional director, Specialist Liability. Walker brings over 20 years’ of experience in the broking industry with a focus on …
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Retiring Commissioner Sevigny Talks State Regulation, Being a Good Leader
New Hampshire Insurance Commissioner Roger Sevigny is planning to retire this summer after 16 years with the New Hampshire Insurance Department. His current term ends on June 11. Prior to his 16 years working as a regulator in the state …
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Climate Change Worsens Effects of Natural Disasters, Costing Farmers Billions of Dollars
Natural disasters from droughts to floods are costing farmers in poorer countries billions of dollars a year in lost crops and livestock, and it’s getting worse thanks to climate change. Agricultural losses from weather events in developing nations totaled $96 …
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from News – Insurance Journal
XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting
XL Catlin’s London-based insurance operation has introduced a Brexit contract continuity clause. The clause addresses the risk that contracts written by XL’s London-based entities prior to Brexit may become impermissible if passporting rights are lost as a consequence of the …
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from News – Insurance Journal
2018年3月18日星期日
Wisconsin Has High Rate of Fatal Crashes Involving Elderly: Study
A study shows Wisconsin has the highest rate for fatal crashes involving elderly drivers in the country. The study conducted by TRIP, a national transportation research group, found 26 percent of fatal crashes in Wisconsin in 2016 involved someone 65 …
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from News – Insurance Journal
South Dakota Traffic Deaths Spiked in 2017
The South Dakota Office of Highway Safety says the number of traffic fatalities in the state continues to be among the lowest in the nation despite a spike in accidents near the end of 2017. Highway Safety Director Lee Axdahl …
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Northeastern Nebraska Plant Cited in Worker’s Death, Fined $188K
A federal workplace safety agency has cited a northeastern Nebraska egg processing plant where a worker was killed last year. The Occupational Safety and Health Administration said in a news release that the Michael Foods plant in Wakefield violated several …
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Missing Worker Presumed Dead After Texas Chemical Plant Explosion
The search for a man missing since a North Texas chemical plant exploded and caught fire on March 15 has been postponed because of dangerous site conditions. Cresson Mayor and Assistant Fire Chief Bob Cornett said Saturday that fires were …
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Trump Administration, McDonald’s Rush to Avoid Employer Liability Trial
The National Labor Relations Board is ignoring its own guidelines and rushing to settle a major workplace action involving McDonald’s Corp., lawyers for employees involved in the litigation alleged. If the workers win at trial, the case could have a …
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from News – Insurance Journal
2018年3月16日星期五
Rideshare Drivers Flocking to On-Demand Economy, Poll Shows
First there was the sharing economy, and then the gig economy. Now the buzz phrase to pay attention to may be “on-demand.” The on-demand economy, according to TheOnDemandEconomy.org, is defined as the economic activity created by digital marketplaces that fulfill …
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Rescue Efforts Continue After Florida University Pedestrian Bridge Collapse
A new pedestrian bridge collapsed onto a highway at a Miami-area college Thursday, crushing at least five vehicles under massive slabs. Several people were seen being loaded into ambulances and authorities launched search and rescue missions. Miami-Dade Fire Rescue tweeted …
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from News – Insurance Journal
Chubb’s Darling Honored for Industry Leadership, Cystic Fibrosis Work
Compassion and helping others were the key takeaways from a message that Jim Darling delivered to a group of several hundred insurance professionals gathered to honor him in Los Angeles, Calif. on Thursday night. Darling, regional executive officer for Chubb’s …
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from News – Insurance Journal
Oklahoma Gas Rig Explosion Draws 3rd Wrongful Death Lawsuit
A third wrongful death lawsuit has been filed over a natural gas rig explosion in Oklahoma that killed five workers. Julie Smith of McAlester, widow of Matthew Smith, filed the lawsuit Wednesday. The widows of Roger Cunningham and Parker Waldridge, …
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from News – Insurance Journal
Wildfires Bring Disaster Declaration in Kansas, Burn Ban in Nebraska
Gov. Jeff Colyer issued a disaster declaration for three wildfires currently burning in central Kansas. State officials announced that Rice County officials have asked for help from the Kansas National Guard to fight the fires. Colyer says the Guard will …
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Fire Damages, Destroys 5 Texas School Buses, Foul Play Not Suspected
Investigators are trying to determine what sparked a fire that damaged or destroyed five Texas school buses parked in a transportation lot during spring break. A statement from the Coldspring-Oakhurst Independent School District says authorities do not suspect foul play …
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from News – Insurance Journal
Survivor of South Dakota Building Collapse Sues Developer, Construction Company
A woman who survived beneath the rubble of a collapsed building in Sioux Falls is suing its developer and construction company. Emily Fodness was sleeping in an apartment above the Copper Lounge in December 2016 when Hultgren Construction removed a …
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from News – Insurance Journal
Proposal to Arm Alabama Teachers Draws Support, Fire
A proposal to let trained teachers carry firearms in public schools drew support and criticism during a legislative public hearing Wednesday as a committee grappled with the first action on a gun-related bill introduced in the wake of the fatal …
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from News – Insurance Journal
Harper Lee Estate Sues Over ‘Mockingbird’ Broadway Version
The estate of “To Kill a Mockingbird” author Harper Lee has filed suit over an upcoming Broadway adaptation of the novel, arguing that screenwriter Aaron Sorkin’s script wrongly alters Atticus Finch and other characters from the book. The suit, which …
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from News – Insurance Journal
Microsoft Internal Findings Say Gender Bias at Washington Tech Giant Rarely Founded
Microsoft Corp.’s investigators concluded that fewer than 1 percent of gender-discrimination complaints made internally were “founded,” according to data unsealed in an ongoing class-action lawsuit. The disclosure covers almost 120 complaints made from 2010 to 2016 by U.S. female employees …
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from News – Insurance Journal
San Francisco Becoming Haven for Amsterdam-Style Marijuana Lounges
The smoke was thick and business brisk at the Barbary Coast Dispensary’s marijuana smoking lounge, a darkened room that resembles a steakhouse or upscale sports tavern with its red leather seats, deep booths with high dividers, and hardwood floors. “There’s …
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Burnham Benefits in California Names Milla Chief Strategy Officer
Irvine, Calif.-based Burnham Benefits Insurance Services Inc. has named Luis Milla chief strategy officer to lead the firm’s technical unit. Milla joins Burnham Benefits with more than 23 years of experience in the employee benefits industry. Milla was previously a …
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from News – Insurance Journal
Ropes, Phone Lights Used in Rescue after Deadly Bus Plunge
Lulled asleep by the humming of their Texas-bound charter bus following a trip to Disney World, members of a high school band were jarred awake before dawn Tuesday when the rig ran off a highway and plunged into a deep …
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United Valley Insurance Services Adds Aguirre in California
United Valley Insurance Services Inc. has named Monika Aguirre member relationship manager. Aguirre’s responsibilities will be handling member relationships in Northern and Central California. She will also take the lead managing United Valley’s Preferred Vendor relationships. She has more than …
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Maine’s The MEMIC Group Promotes Carmody to Northeast Claims Director
Workers’ compensation specialist The MEMIC Group has promoted Michael Carmody to claims director of the northeast region, which includes MEMIC’s New Hampshire, Connecticut and New York offices. Carmody began his career in the claims industry more than 25 years ago …
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Milliman Adds Property and Casualty Team to Tampa Office, Taps Rollins to Lead
Milliman Inc., a global consulting and actuarial firm, has added a property and casualty team to its Tampa, Fla., office in response to the growing demand for the firm’s property insurance analytics. It has tapped consulting actuary John Rollins to …
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Massachusetts’ The Norfolk and Dedham Group Appoints Pepin COO
The Norfolk and Dedham Group (N&D), based in Dedham, Mass., has appointed Victor Pepin to its senior leadership team as chief operating officer. In this newly created role, he will provide executive oversight of its marketing, personal and commercial lines …
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Two Plead Guilty to Insurance Fraud by Arson in West Virginia
Two men pled guilty in federal court for their respective roles in a scheme to commit insurance fraud by arson. Dudley Bledsoe, age 63, of Hanover in Wyoming County, West Virginia, and Ricky Dwayne Gleason, age 54, of Peach Creek …
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Experts Behind Product Liability Suit Against Monsanto Herbicide Don’t Impress Judge
A lawsuit claiming Monsanto Co.’s popular weed killer Roundup causes cancer was dealt a blow by a judge’s conclusions that the opinions of the experts testifying against it are “shaky,” a potentially devastating development for the case getting to trial. …
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Women Suing Uber Claiming Driver Sexual Misconduct Fight Arbitration
Women suing Uber Technologies Inc. over claims that it’s failed to protect thousands of passengers from sexual misconduct by drivers are fighting back against the ride-hailing giant’s move to force them into arbitration. The women alleged Thursday that rather than …
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New Jersey’s Selective Insurance Company Makes Several Officer Appointments
Selective Insurance Company of America, a Branchville, N.J.-headquartered subsidiary of Selective Insurance Group Inc., has announced several officer appointments. Charles Musilli has been appointed to executive vice president and chief human resources officer. Musilli first joined Selective in 1981 as …
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Pilot Reported Engine Failure as Helicopter Crashed in New York City
A Texas firefighter, an Argentine woman and a video journalist were among five passengers killed when a helicopter plunged into New York City’s East River, with the pilot reporting the engine had failed. Investigators began working Monday to determine what …
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from News – Insurance Journal
U.S. Says Russia Behind Years of ‘Multi-Stage’ Cyber Attacks on Energy Grid
The Trump administration on Thursday blamed the Russian government for a campaign of cyber attacks stretching back at least two years that targeted the U.S. power grid, marking the first time the United States has publicly accused Moscow of hacking …
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Door From London’s Deadly Grenfell Tower Fails Fire Safety Test
Police say a door from a London high-rise that went up in flames, killing 71 people, has failed an expert fire safety test. The Metropolitan Police force said Thursday that an undamaged door from Grenfell Tower withstood flames for only …
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Lloyd’s Broker Endeavour Taps Bloodstock Specialist Stonehatch as Appointed Rep
Delegated authority specialist and Lloyd’s Broker Endeavour Insurance Services announced that niche broker Stonehatch Risk Solutions has become an appointed representative of the company. Based in London, Stonehatch was founded in 2014 and specializes in bloodstock and equine insurance, as …
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Luxembourg Aims to Attract More Insurers Seeking Post-Brexit Headquarters
Luxembourg is seeking to persuade at least two additional global insurers to make their post-Brexit home there after attracting American International Group Inc. and Sompo International Holdings Ltd., the head of its financial lobbying group said. “Contingency planning has started, …
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Equifax Sued by Australia’s Competition Regulator for Allegedly Misleading Consumers
Australia’s competition regulator said on Friday it was suing credit reporting company Equifax Pty Ltd, owned by U.S.-based Equifax Inc, alleging it misled consumers and used unfair tactics with people in financial hardship. The alleged consumer law breaches by Equifax’s …
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Aviation Gets Off to Bad Start in 2018 with 3 Deadly Crashes in 4½ Weeks
Three deadly air crashes that have killed 170 passengers in the past 4 1/2 weeks may indicate that 2017, the safest-ever year for aviation, represented a statistical blip. A total of five fare-paying customers lost their lives in just two …
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from News – Insurance Journal
China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking Expansion
JD.com Inc’s finance arm is looking to raise about 12 billion yuan ($1.9 billion) in fresh equity that could see its value double from last year to more than $20 billion, three people with knowledge of the matter said. The …
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from News – Insurance Journal
Markel International Ceases Writing London Open Market Property Business
Markel International, the London-based specialist insurance subsidiary of Markel Corp., will cease to write London open market property business with immediate effect. The development has no impact or implications for Markel Corp.’s U.S. and Bermuda property businesses which, for reasons …
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from News – Insurance Journal
2018年3月15日星期四
House Approves School Safety Bill
The House overwhelmingly approved a bill to improve school safety Wednesday, the first gun-related action by Congress since the shooting that left 17 dead at a Florida high school. The bill authorizes $500 million over 10 years for grants to …
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Federal Appeals Court Sides with Financial Firms, Voids Obama Fiduciary Rule
A federal appeals court on Thursday voided the U.S. Department of Labor’s “fiduciary rule,” which had been adopted in 2016 under the Obama administration to curb conflicts of interest among providers of financial advice to Americans planning for retirement. The …
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from News – Insurance Journal
Study Links Severe Winter Weather in Northeastern U.S. to Arctic Temps
The frequency of extreme winter weather in the U.S. is sensitive to Arctic temperatures, and that’s something those who are paying out on weather-related losses may want to take note of. After all, you can’t spell polar vortex without the …
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from News – Insurance Journal
Snow Causes 81-Vehicle Highway Pileup in Ohio
Authorities say a blinding, late-afternoon snow squall caused an 81-vehicle pileup on a major highway in central Ohio, but no one was seriously hurt. The crashes left vehicles crunched, tipped over and scattered at odd angles across lanes of Interstate …
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Judge Says Corps Is Responsible for Flooding, Damage in 4 Midwest States
A federal judge has ruled that the U.S. Army Corps of Engineers is responsible for causing recurring flooding that damaged farms and property in four Midwest states along the Missouri River. The ruling Tuesday in Washington says the government must …
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Flood Damage Surveys Ongoing in Indiana, Michigan
Officials say flooding last month in northern Indiana and southwestern Michigan damaged more than 2,000 homes. The South Bend Tribune reports the update comes as communities collect information on flood damage to line up state and federal aid. Estimates include …
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Citing Discrimination, Black Police Officers Sue Little Rock, Arkansas
Four black police officers are suing the city of Little Rock alleging age and racial discrimination, underscoring a growing divide between the city’s police chief and an organization for black officers. The federal lawsuit filed March 12 argued that Lt. …
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Pharmacy Benefit Manager Regulation Bill Advances in Arkansas
An Arkansas House panel advanced a proposal Tuesday to regulate pharmacy benefit managers, as lawmakers began a special session focused primarily on addressing a cut in reimbursements rates pharmacists have seen. The House Insurance and Commerce Committee endorsed a proposal …
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Texas Appeals Court Backs Arbitration Agreement in Dram Shop Case
An appeals court in Dallas has reversed a lower court’s denial of a motion to compel arbitration in a dispute between a night club and its contracted entertainer. In Dallas Food & Beverage LLC d/b/a Buck’s Cabaret v. Lantrip, Joy …
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In 5 States, 20% or More of Drivers Have No Insurance; Countrywide Average of 13% Increasing
Nearly one in eight U.S. motorists is driving around uninsured and putting insured drivers at greater risk in the event of an auto accident, according to a study. The study, directed by the Insurance Research Council (IRC) and co-sponsored by …
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Markel Appoints Chu as Chief Officer for Global Ceded Reinsurance
Markel Corp. has named Julia Chu as chief officer for Global Ceded Reinsurance. In this newly-created position, Chu will head up ceded reinsurance functions across Markel’s product lines and international insurance operations in 21 countries. She will work with executive …
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California Teacher Injures Students with Accidental Gun Discharge
Police say a teacher in California accidentally fired his gun in a classroom, injuring three students. It happened Tuesday at Seaside High School as Dennis Alexander was teaching a gun safety lesson for his administration of justice class. Police say …
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California Lawmaker Panel Rejects Government-Run Health Care
State lawmakers studying improvements to California’s healthcare system are rejecting a plan popular with Democratic activists to give everyone in the state government-funded health care. A panel created by Assembly Speaker Anthony Rendon this week recommended a variety of ways …
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from News – Insurance Journal
Third Nor’easter Fouls Roads, Moods as Millions Face Cleanup
The third major storm in two weeks has lashed the Northeast with hurricane-force winds, heavy snow and widespread power outages and now millions of people are facing yet another cleanup. The storm on Tuesday buried some towns beneath 2 feet …
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from News – Insurance Journal
Starr Companies Named Official Commercial Insurance Company of the New York Yankees
Starr Companies, a global insurance and investment organization, has entered into a multi-year sponsorship agreement with the New York Yankees of Major League Baseball. This sponsorship names Starr Companies as the official commercial insurance company of the New York Yankees …
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PIA Management Services Hires Csizmadia and Lillie in New York
PIA Management Services Inc. has hired Kimberly Csizmadia of Cohoes, N.Y., and Ashley Lillie of Canaan, N.Y. Csizmadia works in the PIA Industry Resource Center, and Lillie works in the Member Services Department. As the Industry Resource Center (IRC) representative, …
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Fatal Copter Tour Flew Under Looser Rules of Crop-Dusters
The open-door helicopter tour in which five people died in a crash landing in the East River off Manhattan on Sunday was operating under safety restrictions reserved for photography flights that are looser than those for commercial air-tour rides. Federal …
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from News – Insurance Journal
UK Broker BMS Launches Innovation Lab to Drive Company, Industry Transformation
BMS Group Ltd., the London-based re/insurance broking arm of Minova Insurance, announced the launch of BMS Innovation Labs, a platform that aims to drive change and innovation within the company and the wider insurance industry. BMS Innovation Labs will focus …
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Ride-Hailing Firm Grab Aims to Be Major Financial Services Player in SE Asia
After gaining success in ride-hailing, Grab co-founder Anthony Tan is pushing his startup into a new challenge: catering to those under-served by traditional financial institutions in Southeast Asia. Tan, together with GrabPay Southeast Asia Managing Director Jason Thompson, laid out …
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Marsh Joins Enterprise Ethereum Alliance to Support Open Source Blockchain Standards
Marsh has announced that it has joined the Enterprise Ethereum Alliance (EEA), the world’s largest open source blockchain initiative with more than 400 member companies. The EEA seeks to create open industry standards and frameworks for blockchain applications based on …
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ArgoGlobal Taps Chaucer’s Bull, QBE’s Garcia-Anton Lopez for Casualty Team
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, today announced the appointments of Geoffrey Bull, as casualty treaty underwriter, and Jaime Garcia-Anton Lopez, as professional indemnity (PI) underwriter. Bull and Garcia-Anton Lopez take up their roles immediately. Bull will …
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Law Firm at Center of Panama Papers Tax Evasion Scandal to Shut Down
Mossack Fonseca, the Panamanian law firm at the center of the “Panama Papers” scandal, said on Wednesday it was shutting down due to the economic and reputational damage inflicted by its role in the global tax evasion debacle. The so-called …
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London’s Future as Financial Center Uncertain Due to Brexit: UK Regulator
London’s future as a global financial center is uncertain because of Brexit and Britain faces a tough task to secure European Union market access for its banks and insurers, a top UK regulator said on Wednesday as he steps down. …
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from News – Insurance Journal
Munich Re Eyes Purchase of London Property, Which Could Become UK HQ: Sources
Munich Re, the world’s largest reinsurer, is in talks to acquire a plot that has approval for one of the tallest towers in the City of London financial district, people with knowledge of the plan said. The insurer is negotiating …
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2018年3月14日星期三
Good News on Opioid Usage for a Change – it’s Down in California Workers’ Comp
Efforts to curb the use of opioids in California’s workers’ compensation system appear to be paying off. New research from the California Workers’ Compensation Institute on prescription drugs used to treat injured workers shows that opioids now account for less …
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from News – Insurance Journal
California OKs Workplace Rule to Protect Hotel Housekeepers
California has adopted a new workplace safety and health regulation designed to reduce work-related injuries to housekeepers in the hotel and hospitality industry. This is the first ergonomic standard in the nation written specifically to protect hotel housekeepers, according to …
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from News – Insurance Journal
Water Samples Show Elevated Lead Levels in Flint, Michigan, Schools
Recent water tests at elementary schools in Flint have found an increase in samples showing lead levels above the federal action limit. The Michigan Department of Environmental Quality determined that 28 samples tested in February were above 15 parts per …
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$1.5B Settlement in s Syngenta Modified Corn Seed Lawsuit
A $1.5 billion settlement was reached in a class-action lawsuit covering tens of thousands of farmers, grain-handling facilities and ethanol plants that sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed. The settlement, reached March …
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from News – Insurance Journal
FBI: More than 100 School Threats in Louisiana Since Feb. 14
Authorities have investigated at least 106 threats of violence in or near schools in Louisiana since the Feb. 14 mass shooting at a Florida high school, state police and the FBI said. The news came as the University of New …
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Houston-Area Economy Got a Boost from Harvey
State figures show the spending that came in the aftermath of Hurricane Harvey generated jobs in construction, retail and other sectors, giving a surprising boost to the Houston-area economy. The Houston Chronicle reports that billions of dollars in insurance payments …
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from News – Insurance Journal
Holmes Murphy’s Jacobsen Recognized as Regional Safety Professional of the Year
Josh Jacobsen, Senior Loss Control Consultant for Des Moines, Iowa-based Holmes Murphy has received the Region V 2017 Safety Professional of the Year from the American Society of Safety Engineers (ASSE). ASSE only recognizes eight recipients of the award each …
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Burton Joins Missouri’s Wiley Insurance Agency
Wiley Insurance Agency in West Plains, Mo., has hired Melissa Burton as customer service representative/agent. Burton will write policies and enter information into the agency’s management system for new and existing clientele. She has earned her Missouri Property /Casualty license …
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from News – Insurance Journal
Some Houstonians Spend Huge Sums to Elevate Their Homes After Harvey
When Marni Axelrad and her family moved to Houston’s Meyerland neighborhood in 2015, they planned to stay there for years to come. They loved the community, and their kids were going to great schools. Then the floods came. The 2015 …
from News – Insurance Journal
from News – Insurance Journal
California Workers’ Comp Medical Review Volume Fell Slightly in 2017
New data on the Independent Medical Review process used to resolve California workers’ compensation medical disputes show that IMR volume dipped for the first time ever in 2017, but the outcomes were unchanged as IMR physicians again upheld 91.2 percent …
from News – Insurance Journal
from News – Insurance Journal
New Hampshire Insurance Commissioner Sevigny Set to Retire This Summer
New Hampshire Insurance Commissioner Roger Sevigny is planning to retire this summer after 16 years with the New Hampshire Insurance Department. With his current term ending on June 11, he told Insurance Journal his advice for his successor is based …
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from News – Insurance Journal
Female Firefighters In Washington Sue over Sex Harassment
Two women firefighters are suing Washington’s South Kitsap Fire and Rescue, alleging sexual harassment by a battalion chief who retired in January 2017 after he was notified of a proposal to fire him. The Kitsap Sun reports an internal investigation …
from News – Insurance Journal
from News – Insurance Journal
Work Begins to Reopen Idaho Mine Following Settlement
A northern Idaho mine could be put back into operation following the settlement of a federal lawsuit against the mine’s owner. The Spokesman-Review reported a settlement agreement was filed Monday in federal court in Boise that aims to resolve environmental …
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from News – Insurance Journal
Starr Companies Restructures Casualty Business Units
Starr Companies has made organizational and leadership changes within its Casualty business units to bette aligns underwriting and risk management in the liability marketplace. Financial Lines and Professional Liability are consolidating under the leadership of Brian Inselberg, senior vice president. …
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from News – Insurance Journal
Doable Dozen: 12 Sales, Marketing and Management Ideas for Agencies
Eggs, juries, roses, beer, even doughnuts– many good things come in a dozen. On the theory that more than 100 of anything seems like a lot to consider, but a dozen seems doable even on the busiest of days, here …
from News – Insurance Journal
from News – Insurance Journal
GEICO to Comply with New York Reg Banning Discriminatory Auto Insurance Rates
A third major automobile insurance company in the New York market has reached agreement with the New York Department of Financial Services (DFS) in compliance with the department’s final regulation prohibiting insurers from using an individual’s occupational status and/or educational …
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from News – Insurance Journal
Judge to Decide on Evidence to Allow in Monsanto Roundup Product Liability Litigation
Picture Iowa farmers bathing in Roundup weed killer. That was a federal judge’s takeaway after seeing slides that “sort of seared into my brain” that the main chemical in Monsanto Co.’s Roundup is ubiquitous in the Hawkeye state’s cropland. “I …
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from News – Insurance Journal
PIACT Young Insurance Professionals Elect Officers, Directors
Officers of the Professional Insurance Agents of Connecticut Inc. (PIACT) Young Insurance Professionals (CTYIP) were elected during PIACT’s Annual Convention, held at Foxwoods Resort Casino in Mashantucket, Conn. Kathleen Bailey of The Russell Agency in Southport, Conn., will serve as …
from News – Insurance Journal
from News – Insurance Journal
GM to Pilot Airbnb-Like Service for Autos This Summer
General Motors Co. plans to start a pilot program this summer that will enable car owners to rent out their vehicles when they aren’t using them, according to people familiar with the matter. The tests will begin in early summer …
from News – Insurance Journal
from News – Insurance Journal
Pleas Announced in Pennsylvania License Plate Ring
Authorities have announced pleas in a ring that they said made millions renting out fraudulently obtained Pennsylvania license plates. Fifty-one-year-old Rafael Levi of Brooklyn, New York, entered open guilty pleas Friday to three dozen counts in Dauphin County. Authorities said …
from News – Insurance Journal
from News – Insurance Journal
Nepal Plane Crash Followed Confused Chatter Between Pilot, Control Tower
“I say again, turn!” the air traffic controller called over the radio, his voice rising, as the flight from Bangladesh swerved low over the runway at Kathmandu’s small airport. Seconds later, the plane crashed into a field beside the runway, …
from News – Insurance Journal
from News – Insurance Journal
Flaws in AMD Chips Make Them Vulnerable to Hacks: Israeli Cyber Security Firm
An Israeli cyber security research firm with six employees on Tuesday said it had found flaws in Advanced Micro Devices microprocessors that made them vulnerable to hacks. AMD said it was investigating the claims, which were followed by heavy trade …
from News – Insurance Journal
from News – Insurance Journal
Argo Group Acquires Italian Specialty Insurer Ariscom
Argo Group International Holdings is the proud new owner of Italian specialty insurer Ariscom, giving it an efficient way to expand through Europe. Neither side disclosed financial details. Argo Group CEO Mark E. Watson III explained that the purchase helped …
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from News – Insurance Journal
Canopius Appoints Exari’s Davison as COO and Meyer from Brit as CFO
Canopius AG announced that Laurie Davison has been appointed group chief operating officer, while Nigel Meyer has been named group chief financial officer. With 20 years’ experience in technology and insurance, Davison was previously chief operating officer at software/technology company …
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from News – Insurance Journal
Odyssey’s Newline Group Opens Unit in Canada with Focus on SMEs
Newline Group announced the launch of its new service company, Newline Canada Insurance Ltd., based in Toronto. Newline Group is part of the Odyssey Group, a wholly owned subsidiary of Fairfax Financial Holdings. Newline Canada will offer a suite of …
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from News – Insurance Journal
Chubb to Provide Drivers’ Products for SE Asian Transportation/Fintech Platform Grab
Grab, the Southeast Asia on-demand transportation and fintech platform, announced a partnership with Chubb to offer insurance solutions for Grab’s drivers. Using the Grab app, drivers will be able to select different insurance options to protect their vehicles, their livelihoods …
from News – Insurance Journal
from News – Insurance Journal
2018年3月13日星期二
Physician Running for California Commissioner Wants Universal Healthcare
It’s probably no surprise to hear that Dr. Asif Mahmood, a practicing physician who’s running for the office of insurance commissioner of California, has made healthcare his top campaign platform. Mahmood, who was raised in the outskirts of Kharian, a …
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from News – Insurance Journal
Specialty Program Group Launches Flagship Marine Underwriters
Specialty Program Group LLC (SPG), an insurance holding company for specialty underwriting facilities, has launched Flagship Marine Underwriters, a new yacht and charter recreational marine underwriting facility. Based in Fort Lauderdale, Fla., Flagship specializes in global underwriting facilities for yacht, …
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Top Financial Services Groups to Merge
The Financial Services Roundtable (FSR) and The Clearing House (TCH) have announced plans to merge their association activities, with TCH President Greg Baer becoming chief executive officer for the new organization. FSR CEO Tim Pawlenty previously announced his plans to …
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from News – Insurance Journal
Couple Files Suit After Ohio Hospital Loses Embryos
An Ohio hospital where as many as 2,000 frozen eggs and embryos were damaged by a storage tank malfunction is being sued by a couple who lost two embryos. The lawsuit was filed on behalf of Amber and Elliott Ash. …
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from News – Insurance Journal
Oklahoma Gas Rig Explosion Draws 2nd Wrongful Death Suit
A second wrongful death lawsuit has been filed over a natural gas rig explosion in Oklahoma that killed five workers. Betty Jo Cunningham of Seminole, Oklahoma, filed the lawsuit on March 9. Cunningham is the widow of Roger Cunningham, one …
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from News – Insurance Journal
Verret Joins Worldwide Facilities in Chicago Sr. Vice President
National wholesale insurance brokerage and managing general agent Worldwide Facilities has announced that Brad Verret joined its Chicago office as a senior vice president specializing in transportation. Verret began his career in 2003 when he joined CRC Dallas. He moved …
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from News – Insurance Journal
Colorado Jury Gives Man $6M After Being Beaten by Guard
A federal jury in Denver, Colo. has awarded $6 million to a convicted murderer who was beaten by a guard so severely that he must now use a wheelchair. The Denver Post reports jurors determined Wednesday that Mitchell Mullen beat …
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from News – Insurance Journal
Lyft Driver Killed in Utah in Rollover Accident
Utah police say a Lyft driver has died after being ejected from the vehicle in a rollover accident east of Saltair. They have identified the man as 26-year-old Aaron Roll of Holladay. Unified Police say Roll was thrown from the …
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from News – Insurance Journal
California Car Wash Mogul Nailed for Cheating Hundreds of Workers Out Of Wages
The owner of some 100 local car washes and gas stations in Southern California has been charged with failing to pay minimum wage and overtime to some 700 workers. The Orange County Register reported prosecutors say Vahid David Delrahim and …
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from News – Insurance Journal
A Third of Nevada Drivers Could See Auto Insurance Rates Rise
About one in three Nevada motorists, or as many as 600,000 people, could face a 9 percent jump in auto insurance rates this summer when the state raises the basic required minimum levels of bodily injury and property damage coverage, …
from News – Insurance Journal
from News – Insurance Journal
Anglo American’s Ruptured Pipeline Is 2nd Mine Incident in Brazil in 2018
Anglo American Plc’s Brazilian iron-ore mine suffered operational delays after a pipeline ruptured Monday morning, the company confirmed by email. The good news is that no one was hurt, the company said. The troubling news is the mishap marks the …
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from News – Insurance Journal
Uber, Lyft and New York Loss Transfer
Ridesharing has officially arrived in New York, and confusion over New York no-fault insurance and PIP Loss Transfer has arrived with it. On June 29, 2017, the New York State Assembly approved and Governor Andrew Cuomo signed the state’s $153 …
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from News – Insurance Journal
Professional Insurance Agents of Connecticut Re-Elects Distel as President
Kenneth A. Distel of Avon, Conn., was re-elected president of the Professional Insurance Agents of Connecticut Inc. (PIACT), at the association’s Annual Convention held March 8-9 at the Foxwoods Resort Casino in Mashantucket, Conn. Distel is area vice president of …
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from News – Insurance Journal
Rhode Island’s Starkweather & Shepley Insurance Brokerage Hires Berry
Starkweather & Shepley Insurance Brokerage Inc., an East Providence, R.I.-headquartered independent insurance agency, has hired Joanmarie Berry as a financial insurance specialist. She is based in Milton, Mass. In her new role, Berry’s key responsibilities include assisting and offering a …
from News – Insurance Journal
from News – Insurance Journal
Why Driverless Delivery of Goods Likely to Arrive Before Passengers
In the wait for self-driving technology, cell-phone toting tech bros may have to cede their spot in line to pizzas, Craigslist couches and the mounting ephemera of e-commerce. The future—at least in the near-term—will not only be driverless, but sans …
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from News – Insurance Journal
Alliant Hires Former New Jersey State Senator Jennifer Beck
Alliant has added former New Jersey State Senator Jennifer Beck to its regional brokerage team. As vice president, Beck will provide insurance and risk management services to organizations across the Garden State. Beck joins the firm’s Fair Haven, N.J.-based Alliant/Boynton …
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AFL Insurance Brokers Launches Marine Division, Hires Mott from Ed to Lead Unit
Independent Lloyd’s broker AFL Insurance Brokers Ltd. announced the launch of a commercial marine division, and the appointment of Alex Mott as director of Marine. A senior marine insurance professional with 16 years of international experience, Mott previously managed the …
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from News – Insurance Journal
Michigan-Based Broker Acrisure Completes Acquisition of UK-Based Beach
London-based broker Beach & Associates announced the completion of its acquisition by Acrisure LLC, the Michigan-based retail consulting and insurance broker. Having obtained all necessary regulatory approvals, Acrisure has acquired 100 percent of the company’s equity from existing shareholders. These …
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from News – Insurance Journal
Barbican Names McGurk (from Standard Syndicate 1884) as D&O Class Underwriter
Barbican Insurance Group announced the appointment of Sarah McGurk as class underwriter for directors’ & officers’ liability insurance. Working as part of the financial lines division, she will report to Hans Sherman, underwriting manager D&O. McGurk has extensive experience in …
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from News – Insurance Journal
Global Fisheries’ Output to Drop by 20% by 2300 if Global Warming Isn’t Slowed: Study
Global fisheries output will slump by 20 percent by 2300 and by 60 percent in the worst-hit North Atlantic region if governments fail to slow long-term global warming, a U.S. team of scientists said on Thursday. Most studies of climate …
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from News – Insurance Journal
UK Insurtech Startup Flock Launches Pay-As-You-Fly Drone Insurance
Flock, a London based insurtech startup, has launched Europe’s first “pay-as-you-fly” drone insurance solution. The “Flock Cover” smartphone app provides on-demand insurance for commercial drone pilots in the UK, with policies starting from just £5 ($7) for up to eight …
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from News – Insurance Journal
China to Merge Banking, Insurance Regulators
China is merging its banking and insurance regulators, giving new powers to policymaking bodies such as the central bank and creating new ministries in the biggest government shake-up in years. The revamp is a cornerstone of President Xi Jinping’s agenda …
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from News – Insurance Journal
2018年3月12日星期一
Texas Accepting Input on Amendments to Agent Licensing Rules
The Texas Department of Insurance (TDI) published proposed updates to Chapter 19 of the Texas Administrative Code, regarding agent and adjuster licensing and continuing education requirements on March 9 and is accepting written comments on the proposals. If adopted, Chapter …
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from News – Insurance Journal
Missouri House Passes Bill Aimed at Limiting Awards in Asbestos Lawsuits
The Missouri House has passed legislation to change the rules for lawsuits over asbestos exposure, an effort praised by supporters as a way to stop plaintiffs from being overcompensated but criticized by others as limiting access to justice for those …
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from News – Insurance Journal
14 Arkansas Counties Declared Disaster Areas After Storms, Floods
The Arkansas governor has issued disaster declarations for 14 counties following severe storms, flooding and tornadoes that began late last month. Gov. Asa Hutchinson on March 9 declared the disasters citing damage to private property and public facilities from the …
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from News – Insurance Journal
Selnes Named AVP, Broker Distribution at at Church Mutual
Janet Selnes has been named assistant vice president – broker distribution for Merrill, Wisconsin-based Church Mutual Insurance Co. Selnes joined Church Mutual in 2003 as a regional representative and was promoted to division manager in 2012. Five years later, she …
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from News – Insurance Journal
Oklahoma County to Settle Suit Over Killing of Unarmed Black Man for $6M
An Oklahoma county will pay $6 million to settle a federal civil rights lawsuit filed by the family of an unarmed black man who was fatally shot by a white former sheriff’s reserve deputy, according to court documents filed on …
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from News – Insurance Journal
AM General Faces Breach of Contract Suit over $3M in Unpaid Bills
A Michigan company is suing AM General, alleging the vehicle manufacturer owes more than $3 million for contract work at its northern Indiana plant. Michigan-based Allied Industrial Group’s original contract called for $17.4 million in improvements at AM General’s commercial …
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from News – Insurance Journal
Emails Show Atmos Energy Investigated Leaks Before Deadly Dallas House Blast
An email sent by Atmos Energy to Texas regulators reveals company workers were investigating natural gas leaks involving fires at two Dallas homes some 12 hours before an explosion at another home killed a 12-year-old girl. The company did not …
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from News – Insurance Journal
20-Year-Old Oregon Man Sues Dick’s, Walmart Over New Gun Policies
A 20-year-old man from Oregon has filed lawsuits against Dick’s Sporting Goods and Walmart, alleging the two retailers discriminated against him when they refused to sell him a rifle this week because of his age. Dick’s and Walmart restricted gun …
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from News – Insurance Journal
Insurer for Oregon City to Pay $800K to Family of Man Killed By Police
The insurance company for the central Oregon city of Bend will pay $800,000 in a settlement agreement with the family of a man shot and killed by a Bend police officer. The Bulletin reports that the city in the agreement …
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from News – Insurance Journal
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