Brightway Insurance Opens Office in California

Brightway Insurance has opened an office in Redwood City, Calif. The firm this week also opened its first office in Kansas, as well as in Texas. Manny Aguilar is opening Brightway, The Aguilar Agency in Redwood City. Other Brightway openings …

from News – Insurance Journal

Nevada-based Insurtech Talage Offering Workers’ Comp, Liability, Property Online

Talage Inc. is an insurtech to its core – both in function and name. The Reno, Nev.-based software platform designed to help small business owners compare and quickly purchase a range of commercial insurance policies announced this week that it …

from News – Insurance Journal

Mulready Wins GOP Primary for Insurance Commissioner, Faces Fobbs in November

Glen Mulready, a long-time insurance professional and state representative, in the June 26 primary won the Republican nomination to be Oklahoma’s next insurance commissioner. He will face Democratic challenger Kimberly Fobbs in the November general election. Mulready has 35 years …

from News – Insurance Journal

Hanover Stone Names Loughridge as Sr. Advisor – Strategic Planning in Chicago

Hanover Stone Solutions, an advisory firm providing risk consulting services, including enterprise risk management (ERM), ORSA compliance and strategic planning consulting, to U.S. property/casualty and life insurance companies, has appointed Edward “Ned” K. Loughridge as a senior advisor in Chicago. …

from News – Insurance Journal

Beware ‘Tsunami’ Effect of Artificial Intelligence, Warns Allstate CEO Wilson

Artificial intelligence is coming for the service economy, according to Allstate Corp. Chief Executive Officer Tom Wilson. “It’s going to rip through this economy like a tsunami,” Wilson said Thursday in an interview on Bloomberg TV from Aspen, Colorado. Automation …

from News – Insurance Journal

XL Catlin’s Eells Joins Validus Specialty as Chief Operating Officer

Validus Specialty Underwriting Services announced the appointment of Bob Eells as senior vice president and chief operating officer of Validus Specialty, Western World and Crop Risk Services. Leading operations and business enablement will be among his chief responsibilities. Eells, who …

from News – Insurance Journal

Trump Administration Approves Disaster Assistance for Hawaii After Floods

President Donald Trump’s administration has approved federal disaster assistance for individuals affected by flooding on two Hawaii islands in April. People on Kauai and Oahu may apply for grants to cover damage to their homes, for disaster unemployment insurance and …

from News – Insurance Journal

Jury Awards $383M in Wrongful Death Suits Against Colorado Dialysis Provider

A federal jury in Denver, Colo. awarded $383.5 million to the families of three patients who died of cardiac arrest after treatments at clinics run by dialysis provider DaVita Inc. Attorneys for the families said the Denver-based company treated the …

from News – Insurance Journal

$47.5M Settlement for Boy Who Lost Leg During California Camping Trip

A boy who lost his leg and part of his pelvis after a tree fell on his tent during a camping trip at a public park will receive $47.5 million from a California municipality and utility in a lawsuit settlement, …

from News – Insurance Journal

Lloyd’s CEO Beale to Exit Next Year

Lloyd’s of London today announced that Chief Executive Officer Inga Beale will step down next year after leading the global insurance and reinsurance market for five years. An exact departure date has not yet been set. Beale joined Lloyd’s in …

from News – Insurance Journal

Massachusetts Raises Minimum Wage, Creates New Paid Leave Program

Massachusetts Governor Charlie Baker has signed into law an act that will mandate an annual August sales tax holiday, increase minimum wage over the next five years and create a new paid family and medical leave program in Massachusetts. The …

from News – Insurance Journal

Senate Passes Farm, Crop Insurance Bill with Flood Insurance Extension

The U.S. Senate passed (86-11) a Farm Bill that continues subsidies for farmers along with the federal crop insurance and food stamp programs for five years. The $867 billion Senate bill also contains an amendment to prevent the National Flood …

from News – Insurance Journal

Erie’s Banocy Joins Great American Insurance as Innovation Strategy VP

Great American Insurance Group has hired Christopher M. Banocy as divisional vice president for Innovation Strategy within its Property & Casualty Group. In this role, Banocy will provide leadership, strategy, and direction surrounding the company’s innovation efforts. He joins Great …

from News – Insurance Journal

How Workers’ Compensation Outpatient Payments Compare Across States by Fee Regulation

Hospital outpatient payments were higher and growing faster in states with percent-of-charge-based fee regulations or no fee schedules, finds a study from the Workers Compensation Research Institute (WCRI) that compares 35 states. States with percent-of-charge-based fee regulations had substantially higher …

from News – Insurance Journal

FERMA, LatAm’s Risk Management Assn. ALARYS Partner to Offer Rimap Certification

The Federation of European Risk Management Associations (FERMA) and Latin American risk management association ALARYS signed a memorandum of understanding to jointly promote the FERMA rimap® risk management certification program. The agreement allows ALARYS to offer the FERMA certification to …

from News – Insurance Journal

Employees Find Vacation Benefits Short-Lived, Don’t Offset Stressful Work Culture

Taking time off helps the majority of U.S. workers recover from stress and experience positive effects that improve their well-being and job performance, but for nearly two-thirds of working adults, the benefits of time away dissipate within a few days, …

from News – Insurance Journal

More Employers Offering Paid Parental Leave Benefit

More than one in three U.S. employers offers paid maternity leave beyond the amount required by law, up from one in six earlier this decade, according to new data from the Society for Human Resource Management. All 20 of the …

from News – Insurance Journal

Chubb Overseas General Promotes Hardy to Executive VP, Global Energy

Chubb has appointed Matthew Hardy as executive vice president, Global Energy, Chubb Overseas General. The appointment is effective July 1 and Hardy will report to Timothy O’Donnell, the newly appointed division president, Commercial Property & Casualty, Chubb Overseas General. Hardy …

from News – Insurance Journal

Hanover Stone Solutions Appoints Morrissey, Dubois as Senior Advisors in NYC

Hanover Stone Solutions, an advisory firm providing risk consulting services to U.S. property and casualty and life insurance companies, has appointed Joanne Morrissey and Gary Dubois as senior advisors based in New York City. The executives will have roles in …

from News – Insurance Journal

Connecticut College Savings Plan Accounts Breached, $1.4M Taken

State Treasurer Denise Nappier announced Wednesday that 21 Connecticut Higher Education Trust college savings accounts were recently breached, resulting in more than $1.4 million in unauthorized withdrawals. Nappier said her office was advised of the breach by TIAA-CREF Tuition Financing …

from News – Insurance Journal

Citibanamex, Chubb Announce Bancassurance Distribution Agreement in Mexico

Citibanamex, a subsidiary of Citigroup Inc., and Chubb Seguros México, an affiliate of Chubb Ltd., announced a definitive long-term agreement where Chubb will provide a range of non-life insurance products to Citibanamex’s consumer bank clients in Mexico, subject to regulatory …

from News – Insurance Journal

Official Says 30 Hospitalized After Hazmat Response at Massachusetts Plant

A possible chemical leak at a Massachusetts electronic cigarette manufacturer resulted in a hazmat response and the hospitalization of dozens of plant workers. Officials say a hazmat team was called to the e-cigarette plant in Salem Sunday afternoon to investigate …

from News – Insurance Journal

China Formalizes Easing of Foreign Investment Curbs on Range of Industries

China is slowly following through on pledges to open up to foreigners, as an impending trade war with the U.S. focuses attention on Beijing’s grip over doing business in the world’s second-largest economy. On Thursday the government formalized the easing …

from News – Insurance Journal

Chinese Tech Firms Seek to Shake Up Stake-Run Health Sector with AI and Big Data

In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked …

from News – Insurance Journal

Mississippi County Authorities Searching for Car Thieves on ATVs

Investigators in one north Mississippi County are looking for thieves who have been riding all-terrain vehicles to break into cars at night. WHBQ-TV reports that at least two dozen vehicles in a rural area of southern Panola County have been …

from News – Insurance Journal

REIN, Liberty Specialty Markets Launch On-Demand Drone Coverage

REIN, an insurtech company providing insurance for risks posed by robotics, mobility and online ecosystems, has launched its first digital portal, DroneInsurance.com, offering drone insurance for commercial drone operators. DroneInsurance.com is an online automated platform for commercial drone operators. For …

from News – Insurance Journal

Chocolate-Laden Trailer Goes Up in Flames in Iowa

That’s one way to burn calories. Des Moines television station KCCI reports that a semitrailer carrying chocolate from Hershey, Pennsylvania, caught fire Wednesday on Interstate 80 near Dexter in west-central Iowa. The Iowa State Patrol says the truck was headed …

from News – Insurance Journal

State Farm to Cut Auto Rates in North, South Carolina

State Farm Mutual Automobile Insurance Co. will decrease its auto rates in North and South Carolina, impacting more than 2 million customers in both states. According to a statement from the insurer, State Farm’s overall personal auto rate will drop …

from News – Insurance Journal

Family of Indiana Couple Settle Wrongful Death Lawsuit with Seattle for $13M

The family of a central Indiana couple who died after a repeat drunk driver struck them in Seattle has settled a wrongful death lawsuit against the West Coast city for $13 million. The family of Dennis and Judy Schulte settled …

from News – Insurance Journal

SUNUP Insurance Services Hires Westerman as President, COO

SUNUP Insurance Services has hired 35-year insurance industry veteran Jim Westerman as president and chief operating officer. In this role, Westerman will work with the SUNUP team to expand the distribution footprint across the U.S. market through the recruitment and …

from News – Insurance Journal

Texas Insurance Department Earns National Award for Support of Guard, Reserve Employees

The Texas Department of Insurance is one of 15 employers across the nation to earn the 2018 Secretary of Defense Employer Support Freedom Award, the highest honor given for support of National Guard and Reserve employees. TDI reported it was …

from News – Insurance Journal

One Man’s Solution After Harvey’s Floods? Build His Own Levee.

After Hurricane Harvey inundated David Bush’s Richmond, Texas, home with 20 inches of rain, he knew he wanted to rebuild but was worried about how his property could be protected from the next big storm. So, Bush came up with …

from News – Insurance Journal

Wisconsin’s Jewelers Mutual Insurance Recognizes Thomas with Legacy Award

Meredith Thomas, an independent broker of Neenah, Wisconsin-based Jewelers Mutual Insurance Group, was recently recognized for his outstanding achievements as the 2018 recipient of the company’s Legacy Award. The award was presented before an audience of his agent and broker …

from News – Insurance Journal

Hanover Stone Names Shew Holland Higher Education Practice Leader in Dallas

Risk management services firm, Hanover Stone Partners, has tapped Ellen Shew Holland to lead its newly established national higher education practice. She is based in Dallas. Shew Holland will lead a practice that will focus on providing a wide range …

from News – Insurance Journal

Fire that Destroyed 36 Homes in Florida Sparked by Controlled Burn

John Matthew Polous watched a “controlled-burn” fire for three days as it consumed foliage outside his tiny community on the Florida Panhandle. And then he watched as it quickly raged out of control. What he doesn’t understand is why it …

from News – Insurance Journal

8 Injured When Tornado Hits Eastern Kansas Town

The governor has declared an emergency after eight people were injured when a tornado slammed into a small town in eastern Kansas. The tornado touched down Tuesday night in the Greenwood County town of Eureka, about 60 miles (100 kilometers) …

from News – Insurance Journal

RHSB Adds Allen as AVP, Personal Client Services Practice

Texas-headquartered independent brokerage, RHSB, has added Lane Allen as assistant vice president in its Personal Client Services Practice. Based in Dallas, Allen will be a personal risk advisor providing concierge services to clients with emerging and established wealth who have …

from News – Insurance Journal

Dallas Federal Court Cuts $500M Verdict in Facebook VR Lawsuit in Half

A federal court in Dallas on June 27 halved the $500 million verdict that a jury ordered Facebook Inc., its virtual reality unit Oculus, and others to pay ZeniMax Media Inc., a video game publisher that alleged Oculus stole its …

from News – Insurance Journal

Despite Opposition, Oklahoma Voters Approve Medical Marijuana

Oklahoma voters on June 26 backed the medicinal use of marijuana, overcoming a late opposition campaign from law enforcement and business, faith and political leaders. State Question 788, the result of an activist-led signature drive launched more than two years …

from News – Insurance Journal

Missouri Brewing Company Wins Trademark Lawsuit Against Maine Brewer

A judge has ruled in favor of a Missouri-based brewery in a lawsuit alleging the company copied the name and can design of a Maine-based brewery’s signature export ale. U.S. District Judge Nanette Laughrey ruled in favor of Columbia’s Logboat …

from News – Insurance Journal

Wisconsin Supreme Court Caps Some Malpractice Damages at $750K

The Wisconsin Supreme Court upheld the state’s cap on noneconomic medical malpractice damages on June 27, reversing an appellate ruling that awarded $15 million to a woman who had all four limbs amputated after a mishandled infection. The court ruled …

from News – Insurance Journal

Senator Inserts Flood Insurance Renewal in Farm Bill

As the U.S. Senate prepared to consider amendments to its version of a farm bill, Sen. John Kennedy (R., La.) on Wednesday inserted a proposal to reauthorize the National Flood Insurance Program (NFIP) for six months. The program extension, which …

from News – Insurance Journal

California Commissioner Angry at Insurers for Altering Wildfire Bills

California Insurance Commissioner Dave Jones is irked that the insurance industry has worked to alter legislation he supports that he says is aimed at strengthening consumer protections for wildfire survivors. Senate Bill 894, authored by Senator Bill Dodd, D-Napa, is …

from News – Insurance Journal

Jury Awards Woman $31M in California Age Discrimination Lawsuit

A 58-year-old Southern California woman has been awarded $31 million in an age discrimination case against her former employer. Codie Rael of Ontario sued Washington-based Danaher Corp. and two subsidiaries, claiming that Rael’s bosses repeatedly made remarks that she was …

from News – Insurance Journal

California Marijuana Retailers Cut Prices Ahead of New Testing Rules

Bargain basement bud is on the menu in California, but you need to act fast to cash in on the cheap weed. Regulations being phased in six months after the state broadly legalized marijuana require that pot sold after Saturday …

from News – Insurance Journal

Another Building in San Francisco Appears to Be Sinking

A few blocks from the 58-story Millennium Tower, dubbed “the leaning tower of San Francisco,” another building appears to be sinking. An 18-story building in the city’s financial district appears to have settled up to three-eighths of an inch because …

from News – Insurance Journal

Amazon to Buy Online Pharmacy Startup PillPack as Entry Into Health Care

Amazon.com Inc. agreed to buy the online pharmacy startup PillPack, jumping into the health care business with a deal that will give the retail giant an immediate nationwide drug network. The move represents a formidable threat to pharmacy chains including …

from News – Insurance Journal

New Jersey’s Selective Insurance Group Announces Officer Appointments

Selective Insurance Company of America, a subsidiary of Branchville, N.J.-headquartered Selective Insurance Group Inc., has announced the following officer appointments. Maria Orecchio has been appointed to senior vice president and deputy general counsel. Orecchio joined Selective in 2014 as vice …

from News – Insurance Journal

Changes Urged Amid Probe of Fatal Pennsylvania Gas Explosion

Federal authorities investigating a gas explosion that leveled a Pennsylvania home last year, killing one utility worker and injuring two other workers, are urging changes to prevent incorrect installation of a gas distribution system component. The National Transportation Safety Board …

from News – Insurance Journal

Three Injured in Manhattan Construction Site Incident

Authorities say three people were hurt, one critically, at a Manhattan construction site when a mini crane rolled over and fell from the fourth floor to the street below. Officials said it happened Monday morning while workers were installing a …

from News – Insurance Journal

New Jersey Judge Injured in Fall Files $1M Claim Against City of Camden

A New Jersey judge who was injured in a fall outside a courthouse has filed a $1 million claim against the city of Camden. The Courier-Post reported Camden County Assignment Judge Deborah Silverman Katz says in her claim that she …

from News – Insurance Journal

Digital Insurance Agency EverQuote’s IPO Begins Today at $18 Per Share

Cambridge, Mass.-based online insurance agency EverQuote Inc. announced the pricing of its initial public offering of 4,687,500 shares of its Class A common stock at a public offering price of $18 per share. The shares are scheduled to begin trading …

from News – Insurance Journal

States Agree Not to Fine Equifax Over Data Breach

Equifax Inc. on Wednesday avoided fines in a deal with eight states’ banking regulators over a data breach that compromised sensitive data of more than 145 million people, as the credit reporting agency agreed to tighten up security. Equifax’s disclosure …

from News – Insurance Journal

Apple, Samsung Finally Settle Long-Running Patent Dispute

The biggest patent battle of the modern technology world has finally come to an end after seven years. Apple Inc. and Samsung Electronics Co. told a judge Wednesday they’d resolved the first filed but last remaining of the legal disputes …

from News – Insurance Journal

Generali Likely to Start Exclusive Talks to Sell German Life Book to Viridium: Source

Italy’s Generali is expected to start exclusive talks shortly over the potential sale of its 40 billion euro ($48 billion) German life insurance portfolio to private equity-backed Viridium, a person close to the matter said. Generali and Viridium declined to …

from News – Insurance Journal

Milliman Opens Office in Israel

Milliman Inc., the global consulting and actuarial firm, announced it is opening an office in Tel Aviv, which will provide the full gamut of insurance and actuarial consulting services. Benny Gabbay, a leading figure in the Israeli insurance industry, and …

from News – Insurance Journal

Auto Supplier Bosch Teams with Startup Mojio to Connect Vehicles to Digital Services

German auto supplier Robert Bosch GmbH is teaming with Canadian startup Mojio to get more vehicles connected wirelessly to a wide range of digital services, from insurance companies to emergency responders, the companies said on Wednesday. Bosch said it was …

from News – Insurance Journal

Malaysia Expected to Give Foreign Insurers More Time to Cut Local Stakes: Sources

Malaysia’s central bank is considering granting extensions to some foreign insurers to give them more time to trim stakes in their local ventures, people with knowledge of the matter said. Foreign insurers are expected to be given additional time to …

from News – Insurance Journal

China’s State-Run Insurance Funds Feel Strain of Baby Boom

Chinese President Xi Jinping wants women to have more babies. That’s proving to be a costly goal. After government-run insurance funds paying for maternity leaves suffered revenue shortfalls for the first time, Xi’s government has begun taking steps to shore …

from News – Insurance Journal

Florida-Based AssuredPartners Acquires B&W Brokers of London

AssuredPartners Inc., the Lake Mary, Fla.-based insurance broker, has acquired B&W Brokers Ltd. of London. Specializing in providing casualty and property insurance and placing binding authorities, B&W services clients in Canada, Australia, the United Arab Emirates (UAE) and North America. …

from News – Insurance Journal

JLT FAC Taps RSA’s Melbourne as Producer; Carpenter’s Vitale as Head of Casualty

JLT FAC, part of JLT Re, a global provider of reinsurance broking and consultancy, has appointed two senior executives in London and its U.S. team. In London, Nikki Melbourne will join the firm as partner. She joins from RSA where …

from News – Insurance Journal

10 Months After Harvey, Popular Texas Beach Town Still Recovering

Hurricane Harvey battered Deven Bhakta’s Port Aransas, Texas, hotel until it was uninhabitable. The Austin American-Statesman reports the Category 4 hurricane’s 130 mph winds blew out windows and stripped parts of the roof off the three-story Holiday Inn Express, while …

from News – Insurance Journal

Insurtech Agency CoverWallet Offers Its API for Other Small Businesses to Offer Insurance

Digital small business insurance agency CoverWallet, which is partly owned by insurers Zurich Insurance and Starr Companies, is expanding its distribution by letting other small businesses such as accountants and lenders offer its policies from leading carriers. The company is …

from News – Insurance Journal

North Dakota Businesses Hobbled by Trucking Delays

North Dakota businesses that rely on truck drivers for supplies have been experiencing delays due to mandated electronic logging devices. Delivery times to Dakota Gasification Co. have sometimes doubled or tripled after the Federal Motor Carrier Association began requiring the …

from News – Insurance Journal

Alliant Adds Hotard to Energy, Marine Group in Louisiana

Alliant Insurance Services Inc. has hired Brian Hotard as vice president within the firm’s Energy and Marine Group. He is based in Alliant’s Metairie, Louisiana, office. Hotard joins Alliant with extensive experience providing a full range of property/casualty insurance products …

from News – Insurance Journal

Iowa’s Holmes Murphy Taps Hurley as President, Property Casualty Brokerage

Iowa-based Holmes Murphy has named John Hurley II as president of Property Casualty Brokerage Services. Hurley was formerly senior vice president of Property Casualty, and this new title reflects the high-caliber work Hurley has done and will continue to accomplish. …

from News – Insurance Journal

New Nebraska Lake Expected to Reduce Flood Plain, Lower Insurance Rates

A Nebraska Natural Resources District is opening Omaha’s newest park and lake after spending nine years developing the $44 million project. The Omaha World-Herald reports that the Papio-Missouri River district will open Flanagan Lake on Wednesday. The area also includes …

from News – Insurance Journal

Lincoln, Nebraska, to Test All-Electric, Driverless Shuttle Technology

Lincoln officials are inviting residents to help test out an all-electric, driverless shuttle bus for a pilot program that could bring more autonomous vehicle services to the city. The public will have a chance to reserve a 15-minute ride on …

from News – Insurance Journal

Disaster Declaration Approved for Oklahoma Spring Fires

President Donald Trump has approved Oklahoma’s request for a disaster designation after wildfires scorched western parts of the state in the spring. Trump approved the declaration Monday and ordered federal assistance to supplement state and local recovery efforts in areas …

from News – Insurance Journal

Folgate Insurance Co. Gets UK License to Write Re/Insurance Business

Folgate Insurance Co. Ltd. has received approval from the UK’s Prudential Regulation Authority (PRA) to start writing primary insurance, as well as reinsurance. All business written through Folgate will be underwritten by managing general agent APC Underwriting – in a …

from News – Insurance Journal

Washington State University Football Player’s Brain was Damage at Suicide

The family of the Washington State University football player who died of suicide in January said the 21-year-old quarterback had extensive brain damage that’s been linked to concussions from playing the sport. Tyler Hilinski was found dead in his apartment …

from News – Insurance Journal

Nevada Pot Regulators Get More Money to Deal With Rampant Demand

Nevada’s marijuana regulators say they are trying to keep up with demands at recreational dispensaries, where sales continue to outpace projections. The Nevada Appeal reports the Interim Finance Committee approved an additional $1.5 million for the Department of Taxation to …

from News – Insurance Journal

Families of Pilots File Wrongful Death Suit in 2016 Arizona Helicopter Crash

The families of two pilots who died in a 2016 helicopter crash in western Arizona have filed a wrongful death lawsuit against the California-based manufacturer of the aircraft. The suit filed last Friday in Los Angeles County Superior Court alleges …

from News – Insurance Journal

Hogan Seeks Federal Disaster Declaration for Maryland Floods

Maryland Governor Larry Hogan is asking for a presidential disaster declaration following a severe storm and flooding that hit the Baltimore area last month, devastating Ellicott City. The governor announced the request Monday in a news release, which also said …

from News – Insurance Journal

With $30 Million in Private Equity, Agent Network Renaissance Alliance Eyes Expansion

The Massachusetts-based insurance agency partnership organization Renaissance Alliance Insurance Services (RAIS) said it has received $30 million investment from Long Arc Capital to accelerate its expansion outside the New England region. With this investment, the New York City-based private equity …

from News – Insurance Journal

Two Workers Killed By Falling Countertop Slabs in New York

Two workers have been killed by 800-pound slabs of countertop material that fell on them while being unloaded from a trailer in New York. The Niagara County sheriff’s office in New York says it appears 11 slabs of Corian-brand material …

from News – Insurance Journal

New Jersey Chiropractor Gets Prison Term for Medical Fraud Ring Role

A chiropractor involved in a medical fraud ring that bilked nearly $4 million overall from several insurers is now headed to prison. John Langeraap received a three-year sentence Friday. The 39-year-old Sparta, N.J., man had pleaded guilty to conspiracy to …

from News – Insurance Journal

Cycling Safety: Insurance Industry, Virginia Tech Study Assigns Safety Ratings to Biker Helmets

The next time you hop on a bicycle to head across town, consider this: your helmet may not perform well enough in an accident. A first-of-its-kind study using the latest techniques for simulating head injuries found significant variations in how …

from News – Insurance Journal

Safety Probe of Tesla Crash Cites Battery Fire Risk

A Tesla Inc. Model S involved in a May 8 fatal high-speed crash in Florida reignited twice after firefighters extinguished a fire in the electric vehicle, the National Transportation Safety Board (NTSB) said in a preliminary report on Tuesday. The …

from News – Insurance Journal

Soros See Mighty Big Gains in Investment Portfolios Made Out of Lawsuits

The billionaire George Soros has found a new way to make money from personal-injury lawsuits. Soros Fund Management is pushing into a branch of litigation finance that few hedge funds have entered. His family office is bankrolling a company that’s …

from News – Insurance Journal

Advent Launches Political Violence Pricing & Placing Platform for SMEs in MENA

Lloyd’s insurer Advent announced the launch of its online pricing and placing tool, PVPlus. Developed in partnership with CFC Underwriting, this solution gives low-ticket political violence (PV) businesses in the Middle East and North Africa (MENA) region access to highly …

from News – Insurance Journal

EU Needs to Prevent Brexit Threat to Derivative Contracts: Bank of England

The Bank of England stepped up pressure on the European Union to remove the threat that Brexit poses to trillions of pounds of derivative contracts. Unless the EU follows the U.K. government in taking action, there could be havoc in …

from News – Insurance Journal

Chicago Staffing Firm to Pay $30K to Settle Sex Harassment, Retaliation Suit

Anchor Staffing Inc., a Chicago-based staffing agency, will pay $30,000 to settle a sexual harassment and retaliation lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC’s lawsuit charged Anchor Staffing with violating an employee’s federal civil rights …

from News – Insurance Journal

IIAT Honors Shepard for Political Action; Davis as Account Manager of the Year

The Independent Insurance Agents of Texas (IIAT) honored Harlingen independent insurance agent Bob Shepard with its Paige Eiland Political Action Award at IIAT’s 121st Annual Conference and Trade Show in San Antonio. The Paige Eiland Award recognizes an agent whose …

from News – Insurance Journal

Ohio Excavating Company Fined $202K Following Fatal Trench Collapse

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited JK Excavating & Utilities Inc. after an employee suffered fatal injuries in a trench collapse in Ohio. OSHA has proposed penalties of $202,201 and placed the company in …

from News – Insurance Journal

Texas Attorney Sentenced for Insurance Fraud Involving Roof Claims

A former Texas attorney is headed to prison on charges of insurance fraud and barratry for a scheme involving fraudulent lawsuits filed after hail storms, the state insurance department announced. A Tarrant County judge today sentenced R. Kent Livesay to …

from News – Insurance Journal

Vehicles Damaged, Destroyed by Storms in Southwestern Oklahoma

Emergency management officials say more than a dozen recreational vehicles and campers were overturned by winds as strong storms moved across southwestern Oklahoma. Comanche County Emergency Management spokeswoman Ashleigh Hensch says 13 vehicles were overturned and several were destroyed shortly …

from News – Insurance Journal

BNSF Looks to Resume Service in Iowa After Derailment

BNSF Railway Co. on Monday said it could resume service Tuesday on a stretch of northwestern Iowa track damaged when a train left the track and crude oil spilled from derailed cars. The crude oil train derailed near Doon, Iowa, …

from News – Insurance Journal

Washington County Settles Sexual Harassment Suit for $350K

A Washington county agreed to pay $350,000 to settle a sexual harassment lawsuit brought by two women who accused a male supervisor at the human services department of unwanted hugging, kissing and comments. The Daily Herald reports the total combined …

from News – Insurance Journal

Northern California Wildfires Flare Up

Thousands fled their homes as major wildfires encroached on a charred area of Northern California still recovering from severe blazes in recent years, sparking concern the state may be in for another destructive series of wildfires this summer. Severe drought …

from News – Insurance Journal

Vermont School District Says $50K Stolen Electronically

A Vermont school district says $50,000 was stolen electronically from one of its bank accounts. Cindy Brownell, the board chair of the Pownal Elementary School District, says officials believe the theft occurred from outside the country, but they don’t know …

from News – Insurance Journal

State Farm Mutual Automobile Insurance Company to Cut Rates in Penn.

State Farm Mutual Automobile Insurance Company plans to cut its rates in Pennsylvania. The total state-wide expected impact of this rate change for State Farm Mutual in Pennsylvania is approximately $49.5 million, set to affect approximately 1.7 million policyholders. As …

from News – Insurance Journal

Rhode Island General Assembly Passes Auto Body Shop Bill

The Rhode Island General Assembly has passed H-8013/S-2679, which aims to effectively ban the use of aftermarket parts in the repair of vehicles. The bill is now awaiting Rhode Island Governor Gina Raimondo’s action. If signed, the legislation provides that …

from News – Insurance Journal

International Underwriting Association Publishes Brexit Contract Continuity Clause

A Brexit clause has been published by the International Underwriting Association (IUA) to help companies manage insurance contracts as the UK leaves the European Union. The Brexit Contract Continuation Clause aims to clarify how firms will continue to pay claims …

from News – Insurance Journal

Old Mutual Finishes Restructuring to Focus on S. African Market

South Africa’s prodigal insurer returned home to a lukewarm welcome on Tuesday. Old Mutual Ltd. started trading its stock in Johannesburg at 28.50 rand before swinging between 28.20 rand and 29.39 rand. The listing — done in conjunction with others …

from News – Insurance Journal

Some Big Employers Moving Away from High Deductible Health Plans

When Carla Jordan and her husband were hit with a cascade of serious medical issues, she knew that at least her family had health insurance through her job. What she didn’t realize was that even with that coverage, a constant …

from News – Insurance Journal

Court Nixes Cities’ Climate Change Public Nuisance Lawsuit Against Oil Firms

BP Plc, Exxon Mobil Corp. and Chevron Corp. escaped blame for the public costs of global warming when a U.S. judge ruled that lawsuits by cities against oil companies aren’t the answer to climate change. “The problem deserves a solution …

from News – Insurance Journal

Fine Art Theft Is Relatively Easy – but Selling Stolen Art Is Almost Impossible

Ten days ago, a Banksy print valued at about $40,000 was stolen from a Canadian exhibit of the artist’s work. It was a seemingly effortless crime—a man walked in, took the work off the wall, and walked out—but then, most …

from News – Insurance Journal

EU Will Not Ease Post-Brexit Market Access for UK Insurers, Banks: Official

The European Union’s default market access for foreign financial firms will not be eased for Britain after Brexit and improvements to the equivalence regime will apply to all third countries, an EU official told Reuters. The official’s comments raise the …

from News – Insurance Journal

Chubb Enhances Global Cyber Incident Response Management Capabilities

Chubb announced that it has enhanced its cyber incident response management capabilities and launched two new ways of accessing the service: a mobile application and a dedicated website. As the threat of cyber risks facing commercial enterprises increases, Chubb has …

from News – Insurance Journal

Generali Expands Stake in India’s Future Group to 49%

Generali Group announced it has signed an agreement with Future Group to increase its stake in its insurance ventures in India to 49 percent from 25.5 percent. Generali’s presence in India is currently in the form of two joint ventures …

from News – Insurance Journal

Sirius Group Plans Nasdaq Listing After Merger with Easterly Acquisition

Sirius International Insurance Group, Ltd., the Bermuda-based re/insurer, plans to become a publicly listed company, trading on Nasdaq, after a planned merger with Easterly Acquisition Corp. Under the terms of the merger agreement, Easterly would merge with a subsidiary of …

from News – Insurance Journal

Alera Group Acquires Menath Insurance in Nevada

Alera Group has acquired Incline Village, Nev.-based Menath Insurance. Terms of the deal were not announced. Menath Insurance also has offices in Reno, and South Lake Tahoe, as well as in Susanville, Caif. Alera Group announced last week it acquired …

from News – Insurance Journal

BNSF: Train Derailed in Iowa; Estimated 230,000 Gallons of Oil Spilled

An estimated 230,000 gallons (870,619 liters) of crude oil spilled into floodwaters in the northwestern corner of Iowa following a train derailment, a railroad official said Saturday. BNSF spokesman Andy Williams said 14 of 32 oil tanker cars just south …

from News – Insurance Journal

Lessons Learned From Hurricane Harvey Highlighted in Zurich Report

An inconsistent regulatory environment and a lack of awareness by residents of the potential flooding dangers in and around Houston were among the factors that contributed to the heavy damage inflicted by Hurricane Harvey, according to a report released on …

from News – Insurance Journal

Missouri’s Thomas Insurance Advisors Adds Johnson as Insurance Broker

Thomas Insurance Advisors in Chesterfield, Missouri, has hired Travis Johnson as an insurance broker. Johnson will provide specialized insurance products and services to small and mid-sized businesses. He also will handle automobile and homeowners’ insurance options for both new and …

from News – Insurance Journal

Marsh to Acquire Houston’s Wortham Insurance

Global insurance broker, Marsh, is acquiring Houston-based Wortham Insurance. Terms of the transaction, which is expected to close in the third quarter of 2018, were not disclosed. Founded in 1915, Wortham has more than 530 colleagues based in its Austin, …

from News – Insurance Journal

Quy Receives IIAT’s 2018 Drex Foreman Award; Crocker Named Young Agent of Year

The Independent Insurance Agents of Texas (IIAT) honored IIAT Director Cindy Quy with its Drex Foreman Award during the group’s 121st Annual Conference and Trade Show in San Antonio on June 15. Named after Drex Foreman, who served as the …

from News – Insurance Journal

Missouri Commercial Insurance Modernization Bill Signed Into Law

Missouri’s General Assembly has passed, and the governor has signed, a bill that exempts some commercial lines of insurance from rate filing requirements. The summary of SB 594 on the legislative website states that it “exempts certain lines and endorsements …

from News – Insurance Journal

Several Lawsuits Allege Racial Profiling in Oregon Businesses

Several African Americans are suing big-box stores and restaurants in Oregon, claiming employees at those places wrongly accused them of stealing because they were “shopping while black.” A Portland law firm has filed five lawsuits alleging racial profiling at businesses …

from News – Insurance Journal

Honolulu Bills Aimed at Taxi, Ridesharing Companies

Officials in Honolulu, Hawaii are introducing two bills that would make regulations on traditional taxicab companies more in line with regulations on ridesharing companies. Taxi companies such as Charley’s, The Cab and EcoCab have voiced disappointment over upstart transportation companies …

from News – Insurance Journal

Energy Company Cited for 25 Safety Violations After Fatality at N.H. Plant

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited EWP Renewable Corp., doing business as Springfield Power LLC, for 25 safety violations after an employee suffered fatal injuries when he was pulled into a conveyor at …

from News – Insurance Journal

Florida Man Sentenced to Five Years’ Probation for Workers’ Comp Fraud

A Trinity, Fla., man has been sentenced to five years’ probation, with the first six months to be served on home detention, for making a false statement in connection with his workers’ compensation benefits. As part of the sentence issued …

from News – Insurance Journal

Protecting the Planet from Asteroids, Comets

The U.S. government is stepping up efforts to protect the planet from incoming asteroids that could wipe out entire regions or even continents. The National Science and Technology Council released a report last week calling for improved asteroid detection, tracking …

from News – Insurance Journal

Flooding in Virginia Closes Airport, Traps Several Drivers

Officials say flooding and severe weather in Virginia have closed the state capital’s airport and trapped some motorists. Richmond International Airport tweeted that it was closing due to flooding for several hours Friday morning. Parts of Interstate 64 also shut …

from News – Insurance Journal

Residents Say Home Run Balls from Local Rhode Island Field Damage Property

Residents in a Newport, R.I., neighborhood say baseballs hit out of a field used by a collegiate summer league team are damaging their houses and cars. The Newport Daily News reports residents gathered at City Hall to discuss the errant …

from News – Insurance Journal

Restaurants, and Diners, Pay High Price for Food-Related Illnesses

A single foodborne illness outbreak could cost a restaurant millions of dollars in lost revenue, fines, lawsuits, legal fees, insurance premium increases, inspection costs and staff retraining, a new study from researchers at the Johns Hopkins Bloomberg School of Public …

from News – Insurance Journal

Here’s a Shocker: Insurance Industry Reserves Still Adequate

Although analysts at Conning didn’t actually use the word “shocked” in their latest report on the property/casualty industry’s loss reserve position, the title of the report—and the image on the front page—made it clear that the analysts didn’t see the …

from News – Insurance Journal

Rhode Island Quarry Blast That Injured Two Town Workers Ruled Accidental

Rhode Island officials have ruled the quarry blast that injured two town employees and damaged multiple buildings accidental. The Westerly Sun reported the state Fire Marshal’s Office found the blast at the Westerly quarry did not violate state law or …

from News – Insurance Journal

Florida Utility Contractor Faces Nearly $19K in Fines for Safety Hazards

South Florida utility contractor Douglas N. Higgins is facing $18,659 in proposed penalties after the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited the contractor for exposing employees to cave-in and other hazards at a Naples, Fla., …

from News – Insurance Journal

States’ Adjuster Licensing Requirements Come Under Scrutiny

It’s time for reciprocity across states in insurance adjuster licensing, according to a new report. The study by the Pacific Research Institute into state licensing requirements,“Breaking Down Barriers,” found that the average adjuster holds between 10 and 12 different state …

from News – Insurance Journal

Two Injured in North Carolina Highway Patrol Helicopter Crash

Two people were injured when a North Carolina Highway Patrol helicopter crashed shortly after takeoff at a patrol facility in Raleigh. Highway Patrol First Sgt. Mike Baker told reporters the helicopter was about 6 feet in the air when the …

from News – Insurance Journal

11 Vehicles Damaged in Parking Lot Fire at Amusement Park

Authorities say 11 vehicles have been destroyed after a fire in the parking lot of an amusement park. The Flint Hill Fire Department said it took about 30 minutes to put out the fire Friday afternoon in the Carowinds parking …

from News – Insurance Journal

Canada’s Western Financial Group Acquires Ontario Broker, Axion Insurance

Western Financial Group Inc. announced that it has acquired Axion Insurance Services Inc. of Ontario. The acquisition was completed on June 19, 2018 and will add 10 Ontario-based locations and approximately 60 insurance experts to Western’s existing network of insurance …

from News – Insurance Journal

Modernization, Underwriting Systems & Brexit Top COO Priorities: Lloyd’s Market Assn.

Market modernization, underwriting systems upgrades and Brexit preparations are the top three 2018 priorities of Lloyd’s market chief operating officers (COOs), a survey commissioned by the Lloyd’s Market Association revealed. The survey’s research findings include: Within market modernization initiatives, delegated …

from News – Insurance Journal

U.K. Businesses Caution that Thousands of Jobs at Risk over Slow Brexit Negotiations

Prime Minister Theresa May faces a new onslaught over her Brexit plans from corporate Britain, after the U.K.’s five main business lobbies urged her to make progress in the negotiations or risk losing jobs and investment. After facing down a …

from News – Insurance Journal

AXA Belgium Partners with Car Repair Platform Fixico

AXA, the Paris based insurance & asset management firm, and Fixico, a platform for cosmetic car repairs, after several months of joint testing, have just started to provide AXA’s customers in Belgium with an innovative and fully-digital damage handling proposition, …

from News – Insurance Journal

Fidelis’ MGA Firestone Rebrands to Oakside

Fidelis Insurance announced it has rebranded its managing general agent (MGA), Firestone Surety Ltd., to Oakside Surety Ltd. London-based Oakside is focused on the small and medium-sized enterprises sector of the surety market and is managed through Pine Walk Capital …

from News – Insurance Journal

Australia’s Scandal-Ridden CBA Overhauls Business, Eyes Sale of Insurance Arm

Commonwealth Bank of Australia said it would hive off its wealth management and mortgage broking businesses, and explore whether to divest its general insurance arm, as it narrows its focus down to traditional lending. Australia’s biggest bank also unveiled a …

from News – Insurance Journal

Saudi Women Finally Hit the Road as Driving Ban Ends

They hit the road in celebratory packs, whooping and ululating for joy. Teenagers gathered on Riyadh’s main boulevard to gawk. Men cracked jokes about how lucky they were to no longer have to chauffeur their wives around. Saudi Arabia’s infamous …

from News – Insurance Journal

Uber Girds for Court Battle to Continue Operating in London

In a TV ad currently airing in the U.K., a young woman leaves a bar alone and prepares to step into an Uber. “I know his license number and he’s made 3,000 trips and speaks four languages,” she says to …

from News – Insurance Journal

California Workers’ Comp Rating Bureau Exploring Blockchain, Behavioral Science

One wouldn’t normally associate blockchain with workers’ compensation, two completely different industries that seem worlds apart. But as it turns out, the technology is of value to at least one very important entity in the space. The Workers’ Compensation Insurance …

from News – Insurance Journal

Colorado Hailstorm Carries $169M Insurance Price Tag

Thousands of Fountain and Colorado Springs, Colo. area residents have spent the past week cleaning up and meeting with insurance adjusters after an unusual early morning June 13 storm pounded vehicles and roofs golf and baseball-sized hail. The storm caused …

from News – Insurance Journal

Alaska Marijuana Regulators to Discuss Onsite Use

Alaska regulators are set to discuss proposed rules for allowing onsite consumption of marijuana at certain shops in August. Regulators have gone back and forth on onsite use, adopting rules in late 2015 to allow people to use marijuana at …

from News – Insurance Journal

How Insurance Plans Contribute to Opioid Epidemic: Johns Hopkins Study

Health care insurers including Medicare, Medicaid and major private insurers have not done enough to combat the opioid epidemic, suggests a study led by researchers at Johns Hopkins Bloomberg School of Public Health. The Bloomberg School researchers examined major insurers’ …

from News – Insurance Journal

Motorcyclist Hit by Police SUV in California to Get $12M

Officials in Oakland, Calif. have agreed to pay $12 million to a motorcyclist who lost a leg and was badly hurt when struck by a police vehicle that allegedly ran a red light. The East Bay Times reported that the …

from News – Insurance Journal

Phillies Fan Injured by Flying Hot Dog Launched by Phanatic

It was a flying frankfurter and not a foul ball that left a baseball fan with a black eye in Philadelphia. Kathy McVay says she was at Monday night’s Phillies game when the team’s mascot, the Phillie Phanatic, rolled out …

from News – Insurance Journal

Tropical Weather System Drenches South Texas, Flooding Reported

The entire Texas coastline has been drenched this week with heavy rains resulting in flooding in many areas with several cities reporting rainfall totals in excess of 12 inches. The Insurance Council of Texas is issuing a reminder that record …

from News – Insurance Journal

Police Say Uber Driver Was Streaming Hulu Before Self-Driving Car Crash in Arizona

Police in Tempe, Arizona said evidence showed the “safety” driver behind the wheel of a self-driving Uber was distracted and streaming a television show on her phone right up until about the time of a fatal accident in March, deeming …

from News – Insurance Journal

Most Global Organizations Fail to Learn from Cyber Mistakes: WTW Survey

A majority of executives around the world feel their organizations can do better when it comes to learning from their past cyber mistakes, according to the results of a global survey conducted by The Economist Intelligence Unit (EIU) and Willis …

from News – Insurance Journal

Federal Judge Rules Against Consumer Financial Bureau Structure

A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts. The decision by U.S. …

from News – Insurance Journal

Chubb Announces Changes to North America Agriculture Unit Leadership

Chubb has announced leadership appointments in its North America Agriculture business, which includes commercial property/casualty insurance and the crop insurance franchise, Rain and Hail. Michael Coleman will assume the role of chairman of Chubb Agriculture and chairman of Rain and …

from News – Insurance Journal

Boston Approves NuTonomy Self-Driving Car Testing Citywide

A self-driving car company is getting the green light to test its vehicles on a Colonial-era street network with a reputation for aggressive human drivers. Boston city officials announced Wednesday that they’ve granted permission to NuTonomy to test its autonomous …

from News – Insurance Journal

Northern New England Storms Leave Many Without Power, Spark Tornado

More than 10,000 people were still without power Tuesday, a day after strong winds and rain from storms in northern New England sparked a tornado in New Hampshire and razed a historic barn in Vermont. Monday afternoon’s thunderstorms in New …

from News – Insurance Journal

Surgery, Not Pharma, Is Biggest Healthcare Cost Worry: Gawande

Dr. Atul Gawande, a surgeon who was named this week to head the company being formed by Amazon, Berkshire Hathaway and JPMorgan Chase to trim employee healthcare costs, on Thursday cited surgery as the single biggest U.S. healthcare cost and …

from News – Insurance Journal

Alliant Employee Benefits Hires Phares in Virginia

Alliant Employee Benefits has hired Beth Phares as senior vice president. The Richmond, Va.-area consultant will work with clients throughout the Eastern region to deliver strategic employee benefits solutions that address both the physical and financial health of the organization. …

from News – Insurance Journal

Postmates Wins New York Ruling Finding Couriers Not Employees

Postmates Inc.’s couriers aren’t employees, a New York state appeals court ruled in a decision that will fuel debate about the status of workers in the gig economy. The appeals court panel in a 3-2 decision on Thursday said a …

from News – Insurance Journal

Willis Towers Watson Launches Update of ResQ Reserving Software

Willis Towers Watson has launched a new version of its loss-reserving software, ResQ. ResQ 4.1 provides property and casualty (P/C) insurers with new reporting capabilities to further advance the software’s technical capability, in response to clients’ increasing need for faster …

from News – Insurance Journal

U.S. Missing Out on ‘Huge Economic Opportunity’ of Climate Change Fight: Canada

Canada has an environmental message for Donald Trump: you can’t stop the global campaign against climate change and you will hurt the U.S. by abandoning the battle. Canadian Environment and Climate Change Minister Catherine McKenna said countries around the world …

from News – Insurance Journal

Flying Cars Soon to Be Tested in Germany

Germany, land of the no-holds-barred Autobahn, is pushing the next level of transportation: flying cars. Chancellor Angela Merkel’s government signed a letter of intent with executives from Volkswagen’s Audi unit and plane maker Airbus SE to test air taxis in …

from News – Insurance Journal

8 Passengers Sue Southwest Airlines, Manufacturers Over Engine Blowout

Eight passengers have sued Southwest Airlines Co. over a catastrophic engine blowout in April that killed a passenger and injured several others. The plaintiffs, eight passengers from Flight 1380 on April 17 and one passenger’s husband, filed suit on Tuesday …

from News – Insurance Journal

XL Catlin Launches Specialty Aviation Insurance in Mexico

XL Catlin announced the launch of specialty aviation insurance in Mexico. The new product suite will initially focus on general aviation hull and liability risks. With an established presence in Latin America and aviation teams in Brazil, the United States …

from News – Insurance Journal

Timeline: More Than $1 Billion in Cryptocurrency Thefts Since September 2012

Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com, suffered a hack that saw about 35 billion won ($32 million) worth of coins stolen. The South …

from News – Insurance Journal

AmTrust Shareholders Approve Revised $2.95 Billion Plan to Go Private

Insurer AmTrust Financial Services said that AmTrust stockholders have approved a deal for it to become a private entity for $2.95 billion, a deal negotiated after activist investor Carl Icahn opposed a previous proposal. Th deal will pay $14.75 per …

from News – Insurance Journal

Louisiana in May Saw a 44.4K Annual Increase in Number of Employed

Louisiana Workforce Commission said as of May the state has experienced a year-over-year increase of 44,453 in the number of individuals employed in Louisiana. Louisiana’s civilian labor force is now 2,138,975, which is the highest number of individuals in Louisiana’s …

from News – Insurance Journal

University of Texas to Settle Ex-Coach’s Discrimination Lawsuit

The University of Texas has agreed to settle a race and sexual discrimination lawsuit filed by former women’s track coach Bev Kearney. Kearney attorney Jody Mask on Wednesday told The Associated Press that the case will be dismissed. University spokesman …

from News – Insurance Journal

Russ Named Assistant VP at Wisconsin’s Church Mutual Insurance

Guy Russ has been named assistant vice president of risk control for Church Mutual Insurance Co., based in Merrill, Wisconsin. He reports to Kevin Root, executive vice president – operations. Russ joined Church Mutual in 2012 as director of program …

from News – Insurance Journal

Chicago’s ISMIE Indemnity Expanding Medical Professional Liability Products Nationally

Chicago-based ISMIE Indemnity, an excess and surplus line division of ISMIE Mutual Insurance Co., plans to offer medical liability insurance products in every state in the U.S. With approval from state insurance regulators, ISMIE Indemnity is positioned to deliver its …

from News – Insurance Journal

Flooding Leads to State of Emergency Declaration for NW Wisconsin

A state of emergency has been declared for counties in Northwest Wisconsin impacted by widespread flooding. Gov. Scott Walker declared the emergency state for Ashland, Bayfield, Burnett, Douglas, and Iron counties, where severe thunderstorms produced torrential rain, damaging wind, and …

from News – Insurance Journal

Heavy Rains Bring Flooding to Harvey-Impacted Areas in Texas

Heavy rains in South Texas have caused flooding in areas that were hit hard by Hurricane Harvey less than a year ago. National Weather Service meteorologist Tyler Castillo said Wednesday that up to 15 inches (38 centimeters) of rain have …

from News – Insurance Journal

New Liability Coverage Minimums in Nevada Go into Effective in July

Nevada’s new liability coverage minimums go into effect next month. The new standards require drivers to be covered for at least $25,000 in bodily injury per person, $50,000 per crash and $20,000 for property damage per wreck. According to the …

from News – Insurance Journal

Beverly Hills Doctor Sentenced to 10 Years in Workers’ Comp Scam

A Beverly Hills, Calif. doctor has been sentenced to 10 years in federal prison for his role in a massive fraud scheme. The San Diego Union-Tribune reports Dr. Ronald Grusd was convicted in December of 39 charges, including conspiracy, honest …

from News – Insurance Journal

OneBeacon Surety Revamps Leadership Team, Expands Capacity

OneBeacon Surety Group recently announced changes to its U.S. leadership team. In addition, it is now offering up to $250,000,000 in aggregate surety bond capacity for qualifying clients. Chad Anderson has been named head of North American Surety. Anderson will …

from News – Insurance Journal

Report: California Self-Insured Workers’ Comp Claims Rose Only Slightly Last Year

California public self-insured workers’ compensation claims from fiscal year 2016-2017 rose less than 0.4 percent compared to the corresponding data from the prior year despite a 2.9 percent Increase in covered employees, according to a report out from the California …

from News – Insurance Journal

Why Businesses Need to Plan for Aging Workforce

The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing surprisingly little to prepare to meet the challenges …

from News – Insurance Journal

Marijuana Sales to Be Legal in Canada Starting in October: Trudeau

Marijuana sales will become legal in Canada beginning October 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use. Stocks of marijuana producers, which have rallied in anticipation of legalization, extended …

from News – Insurance Journal

Connecticut’s Paragon Insurance Holdings Hires Fuller

Paragon Insurance Holdings LLC, a national, multi-line specialty managing general agency (MGA) based in Avon, Conn., has hired Tonya Fuller as vice president of its Winery and Brewery division. Additionally, Ashley Forslund has become a member of the Paragon team …

from News – Insurance Journal

Alliant Employee Benefits Hires Kristofak in Virginia

Alliant Employee Benefits has hired Bob Kristofak. Kristofak is from the Richmond, Va.-area and will serve as Alliant Employee Benefits’ new senior vice president, working with a portfolio of clients to provide strategic employee benefits that reduce spending, increase performance …

from News – Insurance Journal

Railroads, Airlines Seek to Bypass States’ Paid Sick Leave Laws

Fed up with state and local laws that require private employers to offer paid sick days, the airlines and railroads have filed suit, claiming that the interstate nature of their businesses should make them exempt. Airlines for America, a trade …

from News – Insurance Journal

Exxon Still Isn’t Complying With Climate Subpoenas, New York Says

Exxon Mobil Corp. is refusing to turn over documents crucial to New York’s investigation into whether the oil giant’s public statements about climate change misled investors, the state’s top lawyer said. Exxon hasn’t complied with subpoenas for cash-flow projections reflecting …

from News – Insurance Journal

Guggenheim Exploring Stakes in Munich Re’s Asset Management Unit

Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds …

from News – Insurance Journal

EU Parliament Panel Backs Stricter Copyright Rules Opposed by Tech Leaders

Google, Facebook , Microsoft and other tech giants could face more curbs on their market power after a European Parliament committee voted in favor of tougher copyright rules on Wednesday. The copyright rules, proposed by the European Commission two years …

from News – Insurance Journal

Lewis Succeeds West as Leader of Chubb’s Mid-Market Commercial Lines; Rockwell Named Chief Underwriter

Chubb has appointed Paul Lewis North America Commercial Insurance Industry practice leader for its North American mid-market segment. He will be responsible for leading Chubb’s Commercial Insurance Industry practices in the United States and Canada, and will have oversight of …

from News – Insurance Journal

Chilton to Return to Capsicum Re Later in This Year After Leaving Gallagher Role

Capsicum Re, the London-based specialist reinsurance broker, announced that Grahame “Chily” Chilton will rejoin the business later this year. Chilton will work alongside CEO Rupert Swallow to drive global business development and help shape the strategic direction of the company …

from News – Insurance Journal

With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO

With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief …

from News – Insurance Journal

Hamilton Underwriting Taps Chubb’s Lee-Amies as Head of Treaty at Syndicate 3334

Hamilton Underwriting Ltd., the managing agency of Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, announced that Neil Lee-Amies has joined the agency as head of Treaty. Lee-Amies reports to Active Underwriter Miles Osorio. Osorio and Adrian Daws …

from News – Insurance Journal

PEMCO in Washington Adds Farmer, Jameson

PEMCO Insurance has named Noel Farmer to the company’s infrastructure and operations team, where he’ll lead and manage PEMCO’s internal technical support group. PEMCO has also named Rebecca Jameson a product manager for its auto line of business. Farmer’s primary …

from News – Insurance Journal

Illnesses at Houston Workplace Blamed on Carbon Monoxide

About two dozen people have been treated for apparent carbon monoxide poisoning at a Houston food distribution center. Firefighters were summoned to the center along the city’s Produce Row after workers reported experiencing nausea, headache and dizziness. Authorities say they …

from News – Insurance Journal

State Farm Auto to Cut Auto Insurance Rates in Missouri

State Farm Mutual Automobile Insurance Co. plans to lower auto insurance rates rates in Missouri by 3 percent overall. The company said the total statewide savings for all State Farm customers affected by this rate decrease in Missouri will be …

from News – Insurance Journal

Buffett’s Geico to Open Service Center in Lenexa, Kansas, Create 500 Jobs

Business icon Warren Buffett plans to open a new Geico Insurance service center that will bring 500 jobs to Lenexa, Kansas. The Kansas City Area Development Council said in a news release that the center will open in August and …

from News – Insurance Journal

Texas Attorney Charged with Workers’ Compensation Fraud

Workers’ compensation insurer, Texas Mutual Insurance Co. reported that a Travis County grand jury has indicted attorney Leslie Casaubon of Lewisville, Texas, on three counts of workers’ compensation fraud-related charges The indictment alleges that, from 2010 to 2014, Casaubon billed …

from News – Insurance Journal

Weiss Ratings Names Strongest, Weakest Homeowners Insurers in Texas

Palm Beach Gardens, Florida-based Weiss Ratings has named the six strongest providers of homeowners insurance doing business in Texas that are financially ready for the 2018 hurricane season. At the same time, Weiss Ratings has identified seven weak insurance companies …

from News – Insurance Journal

At Least One Dead in Widespread Flooding in Northern Wisconsin

Widespread flooding in the Upper Midwest was blamed for at least one death in Wisconsin, while officials in northern Michigan were assessing damage from flash-flooding that washed out roads, damaged businesses and caused dozens of sinkholes. The body of a …

from News – Insurance Journal

Amwins’ Davies Tapped to Lead New Property Underwriting Facility for Ryan Specialty Group

Chicago-based Ryan Specialty Group LLC (RSG) has named Katie Davies as president and CEO of a new, yet-to-be-named property catastrophe managing underwriting facility that will be exclusive to RT Specialty. Company spokesperson Alice Topping said the facility is in its …

from News – Insurance Journal

Nuclear Contamination Found on Worker at New Mexico Weapons Lab

Reports from an independent safety panel show radioactive contamination was found on a worker’s hands and other places at a nuclear weapons lab in New Mexico, the latest safety lapse at the facility as it ramps up work with nuclear …

from News – Insurance Journal

University of Washington to Pay $123K to Settle Free-Speech Lawsuit

The University of Washington will pay $122,500 to settle a lawsuit filed after the college billed a Republican club security fees for a rally. The UW College Republicans sued, saying the bill for $17,000 to cover security costs for the …

from News – Insurance Journal

Wife Files Wrongful Death Suit Against Colorado Rafting Company

The wife of a Maryland man who died during a rafting trip down the Roaring Fork River filed a lawsuit accusing a Colorado rafting company of negligence and fraud. The Aspen Times reports Allison Parker filed a lawsuit against Aspen …

from News – Insurance Journal

Court Rules Failed California Workers’ Comp Insurer Can’t Use Special Funds for Administrative Expenses

The Appellate Court of Illinois has issued a decision supporting California Insurance Commissioner Dave Jones and the California Insurance Guarantee Association’s position that Lumbermens California workers’ compensation deposits can’t be used to reimburse overhead and administrative expenses incurred in connection …

from News – Insurance Journal

Canada Set to Legalize Recreational Marijuana

Canada is set to become the first Group of Seven nation to legalize recreational marijuana after a bill from Justin Trudeau’s government won the backing of the upper chamber. The Senate’s approval in a vote Tuesday night in Ottawa clears …

from News – Insurance Journal

Two P/C Insurance Trade Groups — AIA and PCI— Plan to Merge

Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …

from News – Insurance Journal

Sulphuric Acid Leak at Vedanta India Copper Smelter Could Damage Environment

Vedanta Ltd. said on Wednesday a sulphuric acid leak from a tank at its southern Indian copper smelter was severe and inaction could lead to serious environmental consequences. The district administration had said on Sunday the leak was minor, and …

from News – Insurance Journal

Catastrophes Pushed Homeowners Insurers’ Combined Ratio Above 107 in 2017

After four years of sub-100 combined ratios for the U.S. homeowners insurers, the segment saw its combined ratio deteriorate to 107.1 in 2017 as a result of numerous catastrophes, according to an A.M. Best report. The new Best’s Market Segment …

from News – Insurance Journal

Boston to Sue Drug Companies Over Opioids Epidemic

Boston is retaining a law firm to sue pharmaceutical companies for damages from the deadly opioid epidemic. Democratic Mayor Marty Walsh announced Tuesday he’s tapped Motley Rice and expects the South Carolina law firm will file litigation by the fall. …

from News – Insurance Journal

Small Businesses That Ignore Lessons from Cyber Attack Likely to Suffer Another: Hiscox

While 47 percent of small businesses suffered at least one cyber attack in the past year, only 35 percent of them took action following a cyber security incident to mitigate against another. Forty-four percent of small businesses that reported a …

from News – Insurance Journal

The Hilb Group Adds Massachusetts’ BAR Insurance Brokerage

The Hilb Group LLC (THG) has added Needham, Mass.-based BAR Insurance Brokerage Inc. (BAR). The transaction became effective June 1, 2018. BAR is an employee benefits firm that provides a range of group benefits products and services to its customers. …

from News – Insurance Journal

Opioid Makers Endure Setback as Judge Lets New York Lawsuit Proceed

Purdue Pharma LP, Johnson & Johnson and other opioid makers faced one of the first extensive reviews of their legal defenses to claims they violated consumer-protection laws and created a public nuisance with the sale of the pain killers. They …

from News – Insurance Journal

Safety Agency Orders Tesla to Stop Selling Warning Reduction Feature

The Autopilot Buddy is marketed as a “nag reduction device” that can fool Tesla Inc.’s semi-autonomous driving system to circumvent a warning when a driver’s hands aren’t on the steering wheel, but U.S. regulators have another term for the product: …

from News – Insurance Journal

Hurricane-Proof Home Building Available But Pricey, Slow to Be Adopted

In a private waterfront resort on the northern tip of Key Largo, nestled between tropical forest and the Caribbean, Eric Soulavy is marketing luxury for the age of climate change: Coastal homes that are all but hurricane proof. The Florida-based …

from News – Insurance Journal

Tokio Marine to Acquire Thai, Indonesian Operations of IAG for $390M

Tokio Marine Holdings Inc. announced on June 19 it has entered into a definitive agreement to acquire Thailand and Indonesia insurance businesses of Insurance Australia Group Ltd. (IAG) for approximately A$525 million (42.8 billion Yen; $390 million) in cash. The …

from News – Insurance Journal

Aon Launches Updated Thai Flood Model to Support Underwriters in Market

Aon plc, the London-based professional services firm, has launched an updated Thailand flood catastrophe model to improve understanding of this peril and help insurers build resilience for businesses and communities. Following the flood of 2011 that caused more than US$15 …

from News – Insurance Journal

SoftBank Overhauls Top Management Team

Masayoshi Son elevated two SoftBank Group Corp. executives and one outsider to his inner circle, appointments that become official on Wednesday. The board approved the nominations of Marcelo Claure, Rajeev Misra and Katsunori Sago as executive vice presidents. Sago also …

from News – Insurance Journal

Toyota’s $1B Investment in Ride Hailer Grab Opens Door to Data-Driven Insurance

By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend …

from News – Insurance Journal

Liberty Mutual Taps Kelly, Dolan for Key Posts

Liberty Mutual announced that Shaun E. Kelly has been named president of Distribution for Global Risk Solutions (GRS). In this role, Kelly will lead distribution and marketing of the unit’s diversified commercial and specialty insurance and reinsurance product portfolio. Kelly …

from News – Insurance Journal

Hackers Steal $32M from S. Korean Cryptocurrency Exchange Bithumb

South Korean cryptocurrency exchange Bithumb said 35 billion won ($31.5 million) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital …

from News – Insurance Journal

Alera Group Acquires Kaercher Insurance in Nevada

Alera Group has acquired Las Vegas, Nev.-based Kaercher Insurance, which includes Kaercher Campbell, Kaercher Insurance Agency and Sundance Insurance. Terms of the deal were not disclosed. Kaercher Insurance offers employee benefit services, property/casualty insurance and workers’ compensation to clients throughout …

from News – Insurance Journal

Health Insurers Propose Lower Premiums for Minnesota Individual Market

Health insurers in Minnesota’s individual market are proposing mostly decreased premium rates for 2019, with average proposed decreases ranging from 3 percent to more than 12 percent for consumers, according to data released Friday by the Minnesota Department of Commerce. …

from News – Insurance Journal

Train Derails, Bursts Into Flames in Southwest Indiana

A freight train derailed and several train cars caught fire in southwest Indiana, forcing the mandatory evacuation of nearby homes and businesses. The Gibson County Sheriff’s Office says in a statement the train derailed Sunday evening about 2,100 feet (640 …

from News – Insurance Journal

Patients in Louisiana Could Get More Details About Medication Costs

Louisiana lawmakers are trying to offer patients more details about what happens at the pharmacy counter and whether they’ve gotten the most affordable medication for an ailment. In the regular legislative session, lawmakers passed bills requiring more transparency about the …

from News – Insurance Journal

How Businesses Can Limit Costs of Work-Related Crashes

Work-related motor vehicle crashes cost employers $56.7 billion in 2017, according to a report by a Boston-based vehicle management and reimbursement platform that offers ways employers ways to limit the costs of accidents. The firm, Motus, estimates that about 40 …

from News – Insurance Journal

Trump Labor Chief Readies Rule to Allow Small Business Health Plans

The Trump administration wants to make it easier for small businesses to join together to offer cheaper health insurance plans that would lack some of the protections required under Obamacare. The U.S. Labor Department on Tuesday said it plans to …

from News – Insurance Journal

Maine Employers Are Not Required to Reimburse Employees for Medical Marijuana Use

The Maine Supreme Court has ruled that employers in the state are not required to reimburse employees for their use of medical marijuana under the Maine workers’ compensation system because federal law preempts state law. This decision vacates a previous …

from News – Insurance Journal

Self-Driving Waymo Part of 5-Vehicle Crash in Arizona

Mesa police say a self-driving vehicle was among five cars involved in a collision, but no serious injuries were reported. The driver of the Waymo vehicle told authorities that the car wasn’t in autonomous mode at the time of Saturday …

from News – Insurance Journal

EPIC Adds Crystal & Co.’s Chu as Vice President in Southern California

EPIC Insurance Brokers and Consultants has named Brian Chu in Southern California as a vice president. Chu will be based in EPIC’s Downtown Los Angeles office, reporting to Jim Gillette, president of EPIC’s Pacific South region. He will be responsible …

from News – Insurance Journal

Safety Agency to Watch Tesla Car Fire Exam Following California Incident

The National Transportation Safety Board is sending a technical specialist to observe Tesla Inc.’s examination of a Model S that caught fire in California on Friday, the agency said in a statement. The action is not a formal probe of …

from News – Insurance Journal

Allianz’ CEO Seeks Big M&A – But He Doesn’t Want to Pay for It: Opinion

The CEO of Europe’s biggest insurer is up for a big deal. He just doesn’t want Allianz SE to pay for it. Oliver Baete is going to find it hard to have his cake and eat it. Three years into …

from News – Insurance Journal

B3i Chooses R3’s Corda Blockchain Platform for Development of Business Network

B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform, supplied by software firm R3. Following an extensive evaluation, which focused on the critical success factors of data privacy, …

from News – Insurance Journal

Maryland Governor Seeks Federal Disaster Declaration for Recent Floods

Maryland Governor Larry Hogan is asking for a presidential disaster declaration for Maryland following heavy rainfall and flooding that hit two western counties last month. The flooding in Frederick and Washington counties was the first of two major flooding events …

from News – Insurance Journal

Kaplansky Insurance Acquires Massachusetts’ Kelleher & Mackey Insurance Agency

Kaplansky Insurance, a Needham, Mass.-based, independent and locally owned agency, has acquired Kelleher & Mackey Insurance Agency (K&M) in Quincy, Mass. Following the acquisition, K&M will be merging into Kaplansky’s new Weymouth, Mass., location. The addition of K&M marks the …

from News – Insurance Journal

Appeals Court Lets Lawsuit Over NYPD Sound Cannons Proceed

A federal appeals court in New York says a lawsuit alleging the use of sound cannons by police constitutes excessive force can proceed toward trial. The 2nd U.S. Circuit Court of Appeals said that it agreed with a lower court …

from News – Insurance Journal

UK Regulators, Lawmakers Get Tough on ‘Poor Performance’ of Big 4 Auditing Firms;

The U.K. accounting watchdog is ramping up misconduct fines after being called useless and toothless by lawmakers irate at the failure of the accounting industry to prevent several high-profile corporate collapses. Over two days last week, the Financial Review Council …

from News – Insurance Journal

School Groundskeeper’s Cancer Trial Could Signal Fate of Other Monsanto Roundup Claims

Lee Johnson’s doctors didn’t think he’d live long enough to testify in court that exposure to Monsanto Co.’s Roundup weed killer caused his deadly cancer. But the 46-year-old is now first in line to go to trial against the agrochemical …

from News – Insurance Journal

Insurer Liberty Faces Scrutiny from South Africa Regulator over Cyber Attack

Insurer Liberty Holdings faced questions from South Africa’s Information Regulator on Monday, a day after the company said it had become the victim of a cyber attack. The regulator said it was concerned about the data breach and wanted to …

from News – Insurance Journal

Young Consumers Willing to Let Insurers Spy on Digital Data – If It Cuts Premiums

The majority of people between 18 and 34 would be willing to let insurance companies dig through their digital data from social media to health devices if it meant lowering their premiums, a survey shows. In the younger group, 62 …

from News – Insurance Journal

KPMG’s Audit Work Is of `Unacceptable Standard:’ UK Regulator

KPMG’s audit work in the U.K. is of an unacceptable standard, Britain’s accounting regulator said, fueling calls to reform the industry, including dismantling the “Big Four” players. In an unprecedented assessment, the Financial Reporting Council said auditors at KPMG don’t …

from News – Insurance Journal

Last Defendant in Louisiana’s Camp Minden Explosion Case Agrees He Owes $149K

The last defendant pleaded guilty to conspiracy and agreed that he owes the federal government $149,000 in a case involving a huge explosion at a Louisiana National Guard-owned site. William Terry Wright’s plea agreement was described in news release June …

from News – Insurance Journal

Michigan’s Kellogg Company Recalls Honey Smacks Due to Salmonella Potential

The Kellogg Company, based in Battle Creek, Mich., is voluntarily recalling some of its Honey Smacks cereal after salmonella infected 73 people in 31 states. The Centers for Disease Control and Prevention says most of the outbreaks were in California, …

from News – Insurance Journal

Feds Sue G2 Corporation, Alleging Sex Harassment at Texas Facility

G2 Corporation, doing business as Screen Tight, violated federal law by subjecting a female worker in the Patio Screen Door Fabrication warehouse in Corsicana, Texas, to unwelcome physical and verbal sexual harassment at the hands of her production manager and …

from News – Insurance Journal

Illinois’ Amsted Rail to Pay $4.4M for Discriminatory Hiring Practices

Amsted Rail Co. Inc., which manufactures steel castings for the rail industry, will pay $4.4 million and furnish other relief to settle a class disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC charged the …

from News – Insurance Journal

Appalachian Underwriters Hires Duran as Texas External Marketing Rep

Appalachian Underwriters Inc. has added Armando Duran as external marketing representative for Texas. He is based in the Dallas/Fort Worth area and will focus on agent relationships throughout the state. Duran comes to AUI with over 10 years of experience …

from News – Insurance Journal

4.0Mag Earthquake and Aftershock Shake Parts of Central Oklahoma

The U.S. Geological Survey says a 4.0 magnitude earthquake has shaken parts of central Oklahoma, but there were no immediate reports of damage. The USGS says the earthquake was recorded at 3:56 p.m. about 7 miles (12 kilometers) north of …

from News – Insurance Journal

Despite New Law, Nebraska Not Expected to See Self-Driving Cars Soon

Nebraska lawmakers may have cleared the way for companies to test self-driving vehicles with a law passed earlier this year, but don’t expect a large number to hit the streets anytime soon. Although industry officials say Nebraska has positioned itself …

from News – Insurance Journal

Iowa Supreme Court Reduces Liability of Governments for Road Safety

A recent Iowa Supreme Court decision involving a 2013 car accident on a northwest Iowa county road could make it more difficult for citizens to hold city, county and state officials responsible when people are hurt as the result of …

from News – Insurance Journal

Digital Insurance Agency EverQuote Launches IPO

Cambridge, Mass.-based online insurance agency EverQuote Inc. has commenced an initial public offering it hopes will produce $43 million in net proceeds for the company. EverQuote is offering 3,125,000 shares of its Class A common stock at an initial public …

from News – Insurance Journal

Oregon Marijuana Growers Turning to Hemp as CBD Extract Explodes

A glut of legal marijuana is driving Oregon pot prices to rock-bottom levels, prompting some nervous growers to start pivoting to another type of cannabis to make ends meet _ one that doesn’t come with a high. Applications for state …

from News – Insurance Journal

12,000-Plus Claims Filed for Hail Damage in Colorado

Insurance companies say they have received more than 12,000 claims for damage to vehicles and houses in Colorado Springs, Colo. after the city’s worst hail storm in 20 years. The Colorado Springs Gazette reported the storm also damaged about 250,000 …

from News – Insurance Journal

Coffee Doesn’t Need a Cancer Warning, California Agency Says

Starbucks Corp. and other coffee retailers are looking to get a reprieve in a legal battle over whether they need to post warnings in California that a cup of java contains chemicals known to cause cancer. The California Office of …

from News – Insurance Journal

Supreme Court to Hear Appeal Over Liability for Securities Fraud

The U.S. Supreme Court on Monday agreed to hear an appeal by a New York investment banker banned from the industry by the Securities and Exchange Commission in a case that could limit the scope of those who can be …

from News – Insurance Journal

Climate Change Lawsuits a Growing Threat: Opinion

Last month, a group of 10 families filed an action against the European Union at the European General Court, the EU’s second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) …

from News – Insurance Journal

Pennsylvania Allows ETP Mariner East 1 Pipeline to Resume Service

Pennsylvania’s Public Utility Commission (PUC) voted on Thursday to allow Energy Transfer Partners LP’s Sunoco Mariner East 1 natural gas liquids pipeline to return to service, reversing a suspension tied to safety concerns. The PUC stopped flows on Mariner East …

from News – Insurance Journal

CEO of VW’s Audi Arrested in Germany over Emissions Cheating Scandal

German authorities arrested the head of Volkswagen’s luxury arm Audi on Monday, the most senior company official so far to be detained over the carmaker’s emissions test cheating scandal. Munich prosecutors, who earlier this month widened their probe into Audi, …

from News – Insurance Journal

Maryland Suing EPA on Power Plant Pollution in Other States

A federal judge has ordered the Environmental Protection Agency to respond to Maryland’s request for a declaration that power plants in five upwind states are contributing to Maryland’s air quality problems. The judge on Wednesday ordered the EPA to take …

from News – Insurance Journal

Earthquake Hits Japan’s Industrial Heartland, Causing 3 Deaths; Trains, Factories Halted

Three people were confirmed dead and almost 100 injured after a strong earthquake hit Osaka on Monday morning, rattling one of Japan’s industrial heartlands and halting trains and factories across the region. The earthquake struck at 7:58 a.m. local time, …

from News – Insurance Journal

Insurer Must Defend Bill Cosby Defamation Suits, Court Says

A federal appeals court says an insurance company must pick up Bill Cosby’s tab to fight defamation lawsuits brought by women who accused him of sexual misconduct. But the ruling by the 1st U.S. Circuit Court of Appeals in Boston, …

from News – Insurance Journal

Custody Protection, Regulation, Insurance Paving Way for Shift to Cryptocurrencies

Hedge fund manager Kyle Samani embraces his job making multimillion-dollar bets on the wild market for cryptocurrencies, but he’s long contended with a headache: Ensuring his holdings aren’t stolen. Samani, a managing partner at Multicoin Capital, hopes to offload that …

from News – Insurance Journal

UK Court Rules Contractor Entitled to Employment Rights in Test Case for Gig Economy

A London plumber who claimed he was unfairly dismissed after years of working as a contractor won a court ruling Wednesday giving him employment rights, in a closely watched case testing labor rules in the so-called gig economy. Britain’s Supreme …

from News – Insurance Journal

Chilton to Step Down as CEO of Gallagher’s UK Operations; Succeeded by Matson

Arthur J. Gallagher & Co. announced that the head of the company’s UK-based brokerage and underwriting division, Grahame “Chily” Chilton, will be stepping down from his role as chief executive officer later this year. Subject to regulatory approval, Simon Matson, …

from News – Insurance Journal

South Africa Insurer Liberty Refuses to Pay Ransom Demand After Data Breach

Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails. The stock fell the most in a month. “We did …

from News – Insurance Journal

Vermont to Require That All Have Health Insurance

Vermont is moving forward with its quest to ensure that as many residents as possible have health insurance by enacting a law that will require all to be covered or be penalized. The law, signed with no fanfare by Republican …

from News – Insurance Journal

Russian Industrial Plants Turn to State Reinsurer to Take More Risk after U.S. Sanctions

Dozens of industrial plants in Russia have turned to the state’s reinsurance company for cover after an extension of U.S. sanctions made it difficult to get reinsurance elsewhere, the head of that firm told Reuters. The Russian National Reinsurance Co. …

from News – Insurance Journal

Wisconsin Contractor Cited, Fined $120.3K for Workplace Safety Hazards

Federal safety officials have cited a Wisconsin roofing contractor for exposing employees to falls and other safety hazards at two separate job sites. Penalties proposed for Appleton roofing contractor Hector Hernandez by the U.S. Department of Labor’s Occupational Safety and …

from News – Insurance Journal

Tornado, or Not? Occupied Truck Lifted During Storm in Iowa

A northern Iowa man was driving through a storm when his truck was lifted in the air and carried into a farm field. The Globe Gazette reports that 22-year-old Parker Brumm left Rockford on Saturday before the storm became severe …

from News – Insurance Journal

Univ. of North Dakota Sued for Discrimination by Former Women’s Hockey Players

Eleven former University of North Dakota women’s hockey players have filed a discrimination lawsuit seeking to reinstate the program that was cut 15 months ago. The federal complaint filed against the North Dakota University System alleges that the university violated …

from News – Insurance Journal

2014 Napa Quake Could be Linked to Groundwater Changes, Study Shows

Research suggests the magnitude 6.0 earthquake that rocked California wine country in 2014 may have been caused by an expansion of Earth’s crust because of seasonally receding groundwater under the Napa and Sonoma valleys. The vineyard-filled valleys flank the West …

from News – Insurance Journal

Texas Insurance Wholesalers Find Strength in Independence, Relationships

There’s no denying the robust mergers and acquisition trend among wholesale brokers in the property/casualty insurance industry nationwide, and Texas is no exception. But some Texas wholesale brokers and managing general agents (MGAs) with fiercely independent streaks say that while …

from News – Insurance Journal

RLI Appoints Davis VP, Corporate Services; Ferrell VP, Internal Audit

Specialty insurer RLI Corp., based in Peoria, Illinois, named Seth A. Davis vice president, Corporate Services, and promoted Patrick D. Ferrell to vice president, Internal Audit. Davis will lead the company’s assessment of internal controls over financial reporting, Sarbanes-Oxley compliance …

from News – Insurance Journal

Burgener Named Executive VP at JLT Re in Chicago

Reinsurance broker JLT Re (North America) Inc. (JLT Re) has appointed Todd Burgener as executive vice president in Chicago. Burgener will be working closely with healthcare captive clients and prospects to develop tailored risk transfer solutions that respond to the …

from News – Insurance Journal

Smith Joins UK’s Miller as Onshore Energy Specialist for North America

Ryanne Smith has joined London-based insurance broker, Miller, to further strengthen its energy capabilities for North American intermediaries and clients worldwide. Smith specializes in onshore energy. At Miller, she will be working with Daniel Nicholls and Graeme Valentine, focusing on …

from News – Insurance Journal

Former Cowboys Cheerleader Sues Team, Citing Wage Discrimination

A former Dallas Cowboys cheerleader has filed a federal lawsuit against the team, alleging she wasn’t paid for all her work and made less money than the team’s male mascot. Erica Wilkins, who worked for the Cowboys from 2014 to …

from News – Insurance Journal

Greenwalt Named General Counsel at Oklahoma’s Workers’ Comp Commission

The Oklahoma Workers’ Compensation Commission (WCC) has named Sarah Greenwalt as the agency’s new general counsel, effective June 25. Greenwalt most recently served as senior counsel to the administrator of the U.S. Environmental Protection Agency in Washington D.C. She also …

from News – Insurance Journal

PEMCO Insurance in Washington Adds Karumuri and Abu-Emarah

Seattle, Wash.-based PEMCO Insurance has named Venkata Karumuri a systems manager for the carrier’s digital business center. PEMCO also named Abeer Abu-Emarah manager of its underwriting department. Karumuri will lead the development and deployment of strategic plans for multiple PEMCO …

from News – Insurance Journal

California Wildfire Survivor Bills Pass Senate Committee

Four bills sponsored by the California Department of Insurance that the department believes will strengthen consumer protections for wildfire survivors have passed the Senate Insurance Committee with unanimous, bipartisan votes. Assembly Bill 1772 would extend the amount of time a …

from News – Insurance Journal

EEOC Sues Tapioca Express in California for Sexual Harassment

Tapioca Express, a South El Monte, Calif.-based milk tea franchise, and two of its franchisees violated federal law by subjecting female employees to sexual harassment and forcing some to quit because of the abuse, the U.S. Equal Employment Opportunity Commission …

from News – Insurance Journal

Germany Moves Toward U.S.-Style Class-Actions for Volkswagen Diesel Car Owners

Germany will allow interest groups to sue on behalf of consumers, taking a tentative step toward U.S.-style class-action lawsuits in a bid to make it easier to collect damages from big companies in the aftermath of Volkswagen AG’s diesel-cheating scandal. …

from News – Insurance Journal

Probe Says FAA Allowed Unsafe Charter Planes to Fly

Government aviation inspectors allowed unsafe aircraft to operate in U.S. commercial flight operations, a whistleblower investigation has concluded. The Federal Aviation Administration’s own review confirmed the allegations, according to the Office of Special Counsel, the agency charged with investigating complaints …

from News – Insurance Journal

Massive Cyber Attack of UK Retailer Dixons Carphone Prompts Data Watchdog Probe

The U.K.’s data-protection watchdog said it’s investigating a cyber attack at Dixons Carphone Plc that affected almost 6 million payment cards. The retailer, already struggling with a slowing mobile-phone market in the U.K. and the rise of Amazon.com Inc., said …

from News – Insurance Journal

Sompo International Launches Transaction Risk Insurance in Europe

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company’s European specialty platform has introduced a new transaction risk insurance line of business, expanding its professional lines insurance offerings in …

from News – Insurance Journal

Global Warming Likely to Exceed Paris Agreement Cap of 1.5°C by 2040: UN

Global warming is on course to exceed the most stringent goal set in the Paris agreement by around 2040, threatening economic growth, according to a draft report that is the U.N.’s starkest warning yet of the risks of climate change. …

from News – Insurance Journal

XL Catlin Offers TradeTapp Tool that Helps Contractors Pre-Qualify Subcontractors

XL Catlin’s North America Construction insurance business has teamed up with construction tech start up, TradeTapp, to provide Subcontractor Default Insurance (SDI) clients with access to the platform that helps contractors do a better job of evaluating subcontractors before hiring …

from News – Insurance Journal

Delaware Couple Arrested for $100K Insurance Fraud

A Delaware couple has been arrested for insurance fraud after filing false medical claims for an automobile accident that never occurred, leading their insurance provider to be billed more than $100,000. “We take insurance fraud seriously,” said Delaware Insurance Commissioner …

from News – Insurance Journal

UK MGU StartPoint Taps Liberty Specialty’s Selby to Lead Financial Institutions Team

London-based managing general underwriter StartPoint Executive Risks has appointed Mark Selby as head of its newly created financial institutions underwriting practice. The FI practice is a complement to the current management liability underwriting practice and a next stage in the …

from News – Insurance Journal

Wholesale Trading Insurance Services Hires Megenis in New York

Wholesale Trading Insurance Services LLC (WTIS) has hired Alex Megenis as a vice president and property and casualty broker in New York. Megenis most recently was a broker at Risk Placement Services, where he worked for just less than eight …

from News – Insurance Journal

Autonomous Cars to Bring Shift But Not Big Decline in Insurance: Report

It turns out robots need insurance too. As driverless vehicles reduce car ownership in coming years, insurers may not face the Armageddon that had been predicted, new research shows. “We do not expect revenues for auto insurance companies to experience …

from News – Insurance Journal

Disaster Declaration Approved for March Storm in New Jersey

President Trump has granted a major disaster declaration for the state of New Jersey for damage stemming from the severe winter storm and snowstorm March 6-7. The Federal Emergency Management Agency says the declaration issued Friday will release federal funds …

from News – Insurance Journal

MAPFRE Insurance Set to Exit New York, New Jersey Markets

MAPFRE Insurance has entered into definitive agreements with affiliates of The Plymouth Rock Company to exit the states of New York and New Jersey as part of MAPFRE’s previously announced strategy to focus on its core states and lines of …

from News – Insurance Journal

Oil Companies Ask to Throw Out New York’s Climate Change Lawsuit

A group of the world’s biggest oil companies asked a judge to throw out New York City’s lawsuit seeking to hold them responsible for costs related to climate change. ConocoPhillips, Exxon Mobil Corp. and Chevron Corp. argued in a hearing …

from News – Insurance Journal

Insurtech Can Help Agents, Brokers Build Their Businesses: Furtado of Ratehub.ca

In today’s increasingly digital world, consumers expect to be able to access online information on insurance products, compare prices and carrier options, and apply for coverage using a simple and efficient process. But many agencies and brokerages are falling short …

from News – Insurance Journal

Brown Appointed Texas Commissioner of Workers’ Compensation

Governor Greg Abbott has appointed Cassie Brown as Commissioner of Workers’ Compensation at the Texas Department of Insurance (TDI). Brown succeeds Ryan Brannan, who left the division in June. Her term expires Feb. 1, 2019. TDI’s Division of Workers’ Compensation …

from News – Insurance Journal

Salmonella Outbreak Linked to Pre-Cut Melon Expands to Iowa

Health officials say Iowa has been added to the list of states included in a salmonella outbreak linked to pre-cut melon that has sickened 60 people. The Centers for Disease Control and Prevention says consumers should not eat and retailers …

from News – Insurance Journal

New Wildfire Erupts Near Ski Resorts, Houses in Colorado

A wildfire erupted Tuesday in an area of Colorado known for its ski resorts, forcing the evacuation of more than 1,300 homes and marking the latest in a series of blazes that have ignited in the drought-stricken U.S. West. The …

from News – Insurance Journal

205 Tons of Beef Smoked Sausage Recalled by Texas Company

A Texas company is recalling more than 205 tons (186 metric tons) of beef smoked sausage due to an ingredient issue. The U.S. Department of Agriculture says the recall by J Bar B Foods of Waelder involves beef brisket smoked …

from News – Insurance Journal

AssuredPartners Acquires Bell Insurance in Dallas

AssuredPartners Inc. has acquired Dallas-based Bell Insurance. Bell Insurance has delivered quality insurance products and services to individuals and businesses throughout Texas for over 30 years. The team of 23 will continue operations under the leadership of President Vince Bell. …

from News – Insurance Journal

Insurance Council of Texas Hosting ‘Speed Interview Student Recruitment Event in July

The Insurance Council of Texas (ICT) in July will host what the association says is its largest student recruitment event ever held for insurance and risk management students. ITC’s 3rd Annual Speed Interview and Network Session takes place on Thursday, …

from News – Insurance Journal

Aussicker Named President at Ohio’s Thorn Valley Safety

Thorn Valley Safety, a Dayton, Ohio-based specialist in commercial auto risk control and claims advocacy, has appointed Mark Aussicker as president. Aussicker’s focus will be to challenge status quo thinking, develop and strengthen customer partnerships and to continually improve quality …

from News – Insurance Journal

Russia World Cup Insurance Premiums Rise on Risks of Terrorism, Hooliganism

The risk of terror attacks and damage from hooligans has pushed up premiums for businesses and players buying insurance for the soccer World Cup in Russia compared to the previous event in Brazil, brokers and insurers say. The insured value …

from News – Insurance Journal

Allied Insurance Promotes Beer to Sr. Account Manager for Midwest States

Allied Insurance Brokers has promoted Landin Beer to senior account manager for the territory that includes Illinois, Indiana, Michigan, Minnesota and Wisconsin. Beer will handle a book of business focusing on insurance and risk management products and services for the …

from News – Insurance Journal

Missouri Jury Orders Rams to Pay $12.5M for Reggie Bush Injury

A jury in St. Louis on Tuesday ordered the NFL’s Rams to pay former running back Reggie Bush $12.5 million for a severe knee injury he suffered in 2015, the team’s final season in St. Louis before moving to Los …

from News – Insurance Journal

Iowa Insurance Agent Arrested, Charged with Fraud

The Iowa Insurance Division reported that a Madrid, Iowa, insurance agent has been charged with fraud after an investigation by the division’s fraud bureau. The IID said Joy Marie Heldt, age 48, was charged with Fraudulent Submissions (Class D Felony). …

from News – Insurance Journal

Engineering Insurance Results Deteriorate but Better Times Could Be Ahead: Swiss Re

Underwriting performance in global engineering insurance has deteriorated over recent years – on declining premiums and rising claims in some construction sectors due to poor quality control, according to Swiss Re in its latest sigma study. “Some engineering insurers’ profit …

from News – Insurance Journal

How Prices for Injured Workers’ Medical Professional Care Compare in 35 States: WCRI

Prices paid for medical professional services vary significantly across states, ranging from 26 percent below the median in Florida to 158 percent above median in Wisconsin, according to a 35-state study. States with no fee schedules for professional services had …

from News – Insurance Journal

Sizing Up the Gig Economy

Look around, and it seems more Americans are working outside traditional full-time jobs — whether as freelance graphic designers or independent contractors or Uber drivers. Or maybe not. A government report this week suggested that the proportion of such jobs …

from News – Insurance Journal

Employers Waking Up to Costs of Employees Falling Asleep on the Job

An employer with 1,000 employees can expect to lose more than $1 million each year in missed workdays, lower productivity and increased healthcare due to employee fatigue, according to a new survey. About one-third of all employers report employee injuries …

from News – Insurance Journal

Ease Up On Commercial Drones, Scientists Advise Safety Regulators

Science advisers to the federal government say safety regulators are hindering the spread of commercial drones by being too cautious about the risks posed by the flying machines. The National Academies of Science, Engineering and Medicine said in a report …

from News – Insurance Journal

Cat Facility CCRIF Welcomes 2 New Members: British Virgin Islands, Montserrat

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that British Virgin Islands and Montserrat have joined the facility and purchased coverage for the 2018/19 policy year, beginning June 1. Both countries obtained tropical cyclone and excess rainfall policies …

from News – Insurance Journal

CFC Underwriting Offers Cover for Financial Institutions, Investment Managers

Specialist insurance provider, CFC Underwriting, has launched its first insurance solution for financial institutions. CFC’s Investment Management Insurance (IMI) policy is the first in a suite of products designed to address the challenging risk environment faced by investment managers. Combining …

from News – Insurance Journal

MGA Volante Obtains US$900M in Capacity to Support 9 Global Underwriting Teams

Volante Global Ltd., the new international managing general agent (MGA) platform, has successfully secured a US$900 million gross premium, multi-class, multi-territory “A+” capacity treaty agreement. The capacity will support nine new underwriting teams which will work across seven classes of …

from News – Insurance Journal

FEMA Staffing Stretched Thin as Hurricane Season Gets Underway

As Hurricane Irma bore down on Florida last September, the top U.S. disaster response official ordered all hands on deck. With 4,500 Federal Emergency Management Agency staffers already helping survivors of Hurricane Harvey in Texas, FEMA chief Brock Long told …

from News – Insurance Journal

Liberty Mutual Appoints Waters to National Insurance Specialty Unit

Liberty Mutual, a Boston, Mass.-headquartered global insurer, has appointed Matt Waters to lead the areas of its National Insurance Specialty unit that provide a full range of primary and excess products to large and mid-size construction and energy companies through …

from News – Insurance Journal

Massachusetts Sues Opioid Maker Purdue Pharma, Executives

Massachusetts on Tuesday filed a lawsuit against Purdue Pharma LP, accusing the OxyContin maker of illegally promoting the use of opioids, and became the first state to sue the drugmaker’s executives and directors to hold them responsible as well. The …

from News – Insurance Journal

Advent Insurance Management Launches Consultancy Division

Advent Insurance Management, the insurtech-led Lloyd’s & London market service provider, has launched Advent Insurance Consulting, following the appointment of Parminder Kaur as director. Advent Insurance Consulting will provide “cost-effective, hands-on support to drive greater operational efficiency and deliver change …

from News – Insurance Journal

FEMA Assessing Tornado Damage in Connecticut

Federal Emergency Management Agency officials on Monday began assessing damage from a tornado and a macroburst that hit Connecticut during severe storms last month, a process that could lead to federal aid. Officials reviewed damage from an EF1 tornado with …

from News – Insurance Journal

Pennsylvania’s Allied Insurance Brokers Promotes Beer to Senior Account Manager

Allied Insurance Brokers has promoted Landin Beer to senior account manager. In her new position, Beer will manage a territory that includes the states of Illinois, Indiana, Michigan, Minnesota and Wisconsin. She will handle a book of business focusing on …

from News – Insurance Journal

Farmers in California Names Howard as Chief Claims Officer

Los Angeles, Calif.-based Farmers Insurance has been named Rob Howard chief claims officer Howard was head of claims shared services. He joined Farmers in 1987 as a claims representative in St. Louis, Mo., relocating to Southern California in 2000 when …

from News – Insurance Journal

EPIC Adds McNulty as Wine & Beverage Practice Leader in California

EPIC Insurance Brokers and Consultants has named Michael McNulty managing principal and wine and beverage practice leader. McNulty will be based in San Francisco, Calif., and report to Curt Perata, EPIC’s Pacific North region president. McNulty’s primary responsibilities will include …

from News – Insurance Journal

Insurance Group of St. Charles County Hires Wies as Sales Producer

Missouri-based Insurance Group of St. Charles County has hired Brian Wies as a sales producer. Wies will generate leads and develop new business, as well as handle renewals and oversee existing accounts in the property/casualty marketplace. He has worked in …

from News – Insurance Journal

PCI: Louisiana Bills Allow Electronic Access to Insurance Information

Lawmakers in Louisiana enacted legislation this year that allows insurers to keep up with policyholder demands to conduct business electronically, according to the Property Casualty Insurers Association of America (PCI). Louisiana’s HB 370 authorizes electronic delivery of insurance coverage notices …

from News – Insurance Journal

Minnesota Supreme Court: Son Can Sue Father Over Hunting Accident

A Minnesota man has taken a lawsuit against his father all the way to the Minnesota Supreme Court. And dad is just fine with that. The Supreme Court this week clarified a state law on public access for hunting, clearing …

from News – Insurance Journal

Investor Group Acquires Kansas City Insurance Compliance Services Firm

A group of investors that own Affinity Worldwide and National Real Estate Insurance Group (NREIG) and led by Tim Norris, has purchased First Consulting and Administration Inc., a Kansas City-based insurance compliance service company. Established in 1969, First Consulting and …

from News – Insurance Journal

Malloy Appointed President of Acrisure’s Specialty Division

Caledonia, Michigan-based retail consulting and insurance brokerage, Acrisure, has appointed industry veteran William Malloy as president of its Specialty Division. Malloy has extensive leadership experience in the insurance industry, spending over a decade with AIG, where he held various executive …

from News – Insurance Journal

Acid Release at Louisiana Exxon Plant Sends 2 to Hospital

A sulfuric acid release sent two contractors at an ExxonMobil chemical plant in Louisiana to the hospital. Louisiana Department of Environmental Quality spokesman Greg Langley says the agency wasn’t immediately sure what caused the release Monday morning at the Baton …

from News – Insurance Journal

Hundreds of Complaints Filed Against Texas Contractors After Harvey

Homeowners have filed hundreds of complaints and lawsuits against contractors in Houston and other storm-damaged cities following Hurricane Harvey. The Houston Chronicle reports that the complaints vary from shoddy work and long delays to allegations of fraud schemes. The Better …

from News – Insurance Journal

Trump ‘Probably’ Will Back Lifting Federal Ban on Marijuana

President Donald Trump said last Friday that he was inclined to support a bipartisan effort in Congress to ease the U.S. ban on marijuana, a proposal that would dramatically reshape the nation’s legal landscape for pot users and businesses. The …

from News – Insurance Journal

‘Stable’ Flow Lets Some Hawaii Lava Evacuees Return to Homes

Officials on Hawaii’s Big Island let some people back into their homes and scaled down emergency operations this week as lava flowed into the ocean on a path that wasn’t threatening new areas. “We’ve pretty much thrown everything at this …

from News – Insurance Journal

Arizona Launches Driver Safety Campaign for Monsoon Season

A new safety campaign will remind Arizona drivers stuck in dust storms to pull over, turn off all car lights and wait until visibility is back before hitting the road again. The “pull aside, stay alive” campaign aims to keep …

from News – Insurance Journal

Oregon Earthquake Simulation Reveals Dangers

Researchers at Oregon State University say bridges and roads in the northwestern resort city of Seaside should be prioritized for improvement after a simulation discovered they would have higher mortality rates in an earthquake and tsunami. Researchers found that the …

from News – Insurance Journal

Charity First in California Names Dyson Area Executive Vice President

San Francisco, Calif.-based Charity First has promoted Maureen Dyson to area executive vice president. She will lead company operations, including program growth and direction, product offerings, marketing and staff development. Dyson has spent 16 years at Charity First, starting as …

from News – Insurance Journal

Report Says Rain Washout May Have Caused Virginia Train Derailment

A federal report says a train derailment last month near Washington appears to have been caused by heavy rains washing out the rocks supporting the track. WTOP-FM cites a preliminary National Transportation Safety Board report provided Monday on the freight …

from News – Insurance Journal

Accenture Offers Way to Erase Gender, Racial, Ethnic Bias in Artifical Intelligence

Consulting firm Accenture has a new tool to help businesses detect and eliminate gender, racial and ethnic bias in artificial intelligence software. Companies and governments are increasingly turning to machine-learning algorithms to help make critical decisions, including who to hire, …

from News – Insurance Journal

FEMA Looking to Expand Disaster Reinsurance Program

The federal government, seeking to protect itself from the growing cost of natural disasters, is borrowing a technique from the private sector and buying reinsurance. The Federal Emergency Management Agency, which started purchasing reinsurance last year for the National Flood …

from News – Insurance Journal

Winners Announced for 3rd Annual Efma-Accenture Innovation in Insurance Awards

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture announced the winners of the third annual Efma-Accenture Innovation in Insurance Awards. Showcasing the best examples of insurance technology innovations in multiple categories, the …

from News – Insurance Journal

UK Banks Should Be on ‘War Footing’ over Rising Cyber Threats: Regulator

The Bank of England told banks to be ready for war against the mounting threat of crippling cyber attacks. “I would like our firms to be on a WAR footing: withstand; absorb; recover,” Lyndon Nelson, deputy chief executive of the …

from News – Insurance Journal

Arthur J. Gallagher & Co. Announces Acquisition of New York’s H.R. Keller & Co.

Arthur J. Gallagher & Co. has announced the acquisition of Buffalo, N.Y.-based H.R. Keller & Co. Inc. Terms of the transaction were not disclosed. H.R. Keller & Co. Inc.’s Eric Keller, Andrew Coric and their associates will continue to operate …

from News – Insurance Journal

Orchid Insurance Expands Commercial Lines Division to Several East Coast States

Orchid Underwriters Agency LLC (Orchid Insurance), a specialty underwriter of catastrophe exposed property insurance, has expanded its Commercial Lines division into New York, Massachusetts, Maryland, Virginia, Georgia, Connecticut, Rhode Island and Delaware. This broadens Orchid’s commercial presence to a total …

from News – Insurance Journal

New York Top Court Narrows Martin Act in $11B Credit Suisse Case

New York’s highest court on Tuesday curbed the state attorney general’s ability to fight fraud on Wall Street, awarding a victory to Credit Suisse Group AG as it tries to end an $11 billion lawsuit over risky mortgage securities. By …

from News – Insurance Journal

Lloyd’s Lab Begins Global Search for Insurtech Talent

Lloyd’s Lab, the global insurance market’s new innovation sandbox, is launching a global search for tech talent to partner with the Lloyd’s market and develop solutions for its unique and rapidly changing needs. In order to support its digital evolution, …

from News – Insurance Journal

UK Insurance Entrepreneur Banks Accuses Lawmakers of `Witch Hunt’ to Derail Brexit

Arron Banks, one of the self-described “bad boys of Brexit,” said he has no business interests in Russia and there was no evidence of a conspiracy connected to Britain’s vote to leave the European Union. At a contentious Parliament hearing …

from News – Insurance Journal

ING, AXA Form Digital Bancassurance Partnership, Offering Cover in 6 Countries

ING and AXA announced a long term and exclusive, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform. Under the partnership, ING will provide its leading digital banking experience and AXA its expertise …

from News – Insurance Journal

UK Electronic Retailer Dixons Carphone Hit by Data Breach

British mobile phone and electrical retailer Dixons Carphone said on Wednesday it had become the latest victim of cyber crime after discovering unauthorized access to its payment card data. “We have taken action to close off this access and have …

from News – Insurance Journal

Everest Insurance Taps Chubb’s Koppang to Lead E&S Casualty Unit

Everest Re Group Ltd. has added Eric Koppang to the Everest Insurance Specialty Casualty team within the E&S Casualty unit. Based in Chicago, Koppang joins Everest as vice president and head of E&S Casualty. Koppang will be responsible for developing …

from News – Insurance Journal

Damage from June 6 Texas Hailstorm Estimated at $1B

Karen Clark & Co. has estimated the June 6 hailstorm that pummeled North Texas will generate around $1 billion in insured losses to residential and commercial properties and automobiles. Baseball sized hail was reported in Dallas, Tarrant and Denton counties …

from News – Insurance Journal