Beazley Launches Consortium at Lloyd’s for Wage & Hour Risks

Beazley has launched a new consortium at Lloyd’s to bring increased capacity for wage & hour risks, expanding the choices available to U.S. organizations. Building on Beazley’s experience in employment practices liability (EPL), and the 2015 launch of Workplace Protect, …

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Regulators Propose $2.2M Settlement with CSX Over West Virginia Derailment

Federal officials have announced a $2.2 million proposed settlement with CSX Transportation to resolve the company’s liability for water pollution violations stemming from a train derailment that caused an oil spill in West Virginia. The U.S. Environmental Protection Agency, the …

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Texas Petrochemical Contractor to Pay $135K in Disability Suit Settlement

A Texas petrochemical services company that fired three brothers because of a blood disorder that they shared will pay $135,000 to settle a lawsuit filed by federal officials over the firing. Signature Industrial Services LLC in Beaumont has also committed …

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Miami Man Accused of Torching 40 Golf Carts at Beckham Soccer Stadium Site

A 20-year-old man is accused of arson after police say he set fire to a Miami golf course where David Beckham hopes to build a soccer stadium. The Miami Herald reports Carlos Crespo was arrested late Wednesday. Police said around …

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Commentary: How Florida’s Flood Insurance Model Could Work Nationwide

While Congress works on various reforms to the National Flood Insurance Program (NFIP), the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood coverage. Last month in Salt …

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FEMA Grows Its Flood Reinsurance Plan with $500 Million Cat Bond

The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for the first time is directly backed by capital markets investors. FEMA has entered into a three-year reinsurance agreement, effective August …

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Atlas General, Accredited Surety to Offer Workers’ Comp Coverage in California

Atlas General Insurance Services, LLC, a national multi-line program administrator, has added an exclusive new workers’ compensation insurance program with Accredited Surety & Casualty Co. Accredited recently expanded its insurance offerings to include workers’ compensation and selected Atlas as its …

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Hite Opens Third Brightway Insurance Franchise in Florida

Josh Hite, owner of Brightway Insurance agencies in Boynton Beach, Fla., and Bluffton, S.C., is the new owner of an agency in Lake Worth, Fla., making him the first Brightway franchisee to own three stores, according to the company. The …

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Another 2K California Homeowners Eligible for Retrofit Grants

More than 2,000 homeowners will get free money to retrofit their homes to help them better withstand earthquakes, according to the top official at the California Earthquake Authority. The homeowners were on a waiting list for the Earthquake Brace + …

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Cavignac & Associates in California Names Cortez Professional Liability Account Administrator

San Diego, Calif.-based Cavignac & Associates has named Jasmin Divino Cortez an account administrator within the agency’s professional liability department. Cortez will provide support and assistance to the department’s account executive and account manager. She is responsible for processing endorsements, …

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Crest Insurance Acquires Colorado Restaurant Insurance

Crest Insurance Group has acquired Colorado Restaurant Insurance. Colorado Restaurant Insurance will operate as Crest Restaurant Insurance. Sean Pechan will remain president of Crest Restaurant Insurance and the company will maintain its current management team and product offerings. Crest Insurance …

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Senate Agrees with House to Renew Flood Insurance Program for 4 Months

Congress avoided a lapse in the federal flood insurance program when the Senate today voted to extend authorization for the program four months to Nov. 30. The National Flood Insurance Program would have expired at the end of today had …

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ProHost Launches Wine Valuation Endorsement for Restaurant Wine Collections

ProHost USA, a national program administrator specializing in restaurant insurance, is rolling out a property insurance coverage valuing bottled wine at its selling price rather than at replacement cost. The new endorsement will give restaurants the advantage of covering the …

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Lockton to Administer Attorney Protective Lawyer Program in the East

Lockton Affinity will be the exclusive administrator for Attorney Protective’s Professional Liability Insurance Program for attorneys in Washington D.C., Maryland and Virginia. The Attorney Protective program was developed to protect attorneys, their reputation and assets. The program is administered by …

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Possible Tornado Damages Homes Along Georgia Coast

Emergency officials say a possible tornado has left a trail of damage on the Georgia coast. No injuries were reported after a funnel cloud was spotted Friday afternoon on Whitemarsh Island, east of Savannah. The Chatham County Emergency Management Agency …

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Flood Insurance Uptake Rates Rise in Texas Following Harvey

Little more than two months before Hurricane Harvey slammed the Gulf Coast of Texas, Alberto Castaneda let his home’s flood insurance lapse. He had never filed a claim on the policy in 10 years and he needed the extra cash …

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Midlands Management Enters Oklahoma Marijuana Insurance Market

Oklahoma City-based wholesale insurance broker and program manager, Midlands Management Corp., has introduced comprehensive coverage for the marijuana industry in Oklahoma. The Midlands program offers products liability, general liability, professional liability, excess liability and more for all segments of the …

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Alliant Adds Morris as Sr. VP, Employee Benefits, in New Orleans

Alliant Insurance Services, based in Newport Beach, California, has added Brett Morris in New Orleans as senior vice president in the company’s Employee Benefits Group. Prior to joining Alliant, Morris was senior vice president with a large regional insurance and …

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Nationwide Invests in Online Business Financing Startup BlueVine

Nationwide said it is making a new venture-capital investment in BlueVine, a provider of online working capital financing for small- and medium-sized businesses. The BlueVine announcement is part of Nationwide’s commitment to invest more than $100 million of venture capital …

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Ohio Chipotle Restaurant Closed After Reports of Illness

Chipotle Mexican Grill Inc. has shut a restaurant in Ohio following reports of customers falling sick after eating there, the burrito chain said on Monday. At least two customers wrote on food safety website iwaspoisoned.com that they suffered nausea and …

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Texas Countertop Maker Faces $318.6K in Fines for Workplace Hazards

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Tyler, Texas-based Berry Marble Company Inc. – doing business as U.S. Granite – for exposing employees to machine hazards. The natural stone countertop manufacturer faces $318,687 in …

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Kansas Grain Bin Operator Contests Citations, $500K in Penalties for Worker Deaths

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Gavilon Grain LLC – operator of a grain bin based in Wichita, Kansas – after two workers were fatally engulfed in a soybean storage bin. The company …

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$100M Lawsuit Filed in Fatal Missouri Duck Boat Sinking

The owners and operators of a tourist boat that sank this month in Missouri, killing 17 people, put profits over people’s safety when they decided to put the Ride the Ducks boat on a lake despite design problems and warnings …

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Suit Filed Against Escalator Manufacturer over Utah Child Who Lost 2 Fingers

A 3-year-old Utah girl had two fingers amputated when they were caught in a faulty grocery store escalator, her family says in a lawsuit filed against the store and the escalator manufacturer. The girl’s mother, Silvia Zamora , said in …

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Judge Allows Suit Against Crow Nursing Home in Montana to Proceed

A federal judge is allowing a woman to proceed with a lawsuit that claims the Crow tribe’s nursing home leaders in Montana conspired to fire her for reporting that a patient had been molested. Tammy Wilhite is a former nurse …

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Damage in Colorado from Severe Storm Could Include Possible Tornadoes

Trees and power lines are knocked over and small planes are flipped upside down after a severe storm, which including tornado sightings and hail, moved across the plains of northeastern Colorado. A team from the National Weather Service is in …

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Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources

Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. The review, coming after a …

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Broker Ed Appoints Jordan from Lloyd & Partners as Divisional Director, Marine

Ed, the global reinsurance, wholesale and specialty broker, today announced the appointment of Patrick Jordan as divisional director, Marine. Based in London, he takes up his role with immediate effect and reports to Heather Clarkson, managing director, Marine. Jordan brings …

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Northern California Wildfires Threaten 10,000 Homes

A pair of wildfires tearing through vineyards and brushy hills threatened some 10,000 homes in Northern California on Tuesday. The two fires straddling Mendocino and Lake counties had burned seven homes by Monday night along with some 107 square miles …

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Court to Revisit Dismissal of $210 Million Hyundai-Kia Fuel Economy Settlement

A U.S. appeals court will reconsider its decision to throw out a $210 million nationwide class-action settlement for owners of Hyundai Motor Co. and Kia Motors Corp. vehicles whose fuel economy was inflated. The 9th U.S. Circuit Court of Appeals …

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Business Email Attacks on the Rise; Office 365 Users Hardest Hit: Beazley

Attacks targeting business email accounts continued to climb in the second quarter. Hardest hit were organizations using Office 365, the popular cloud-based product, according to data released by specialty insurer Beazley. Email compromises accounted for 23 percent of incidents reported …

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Lawsuit Says Equipment Led Delaware Firefighter to Fall from Helicopter

A lawsuit charges that improper equipment led a Delaware firefighter to fall to his death from a helicopter during a 2016 training exercise. The News Journal of Wilmington reported that firefighter Timothy McClanahan’s family filed the lawsuit this month. The …

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Maryland Hits Record-High Drug Deaths, Fueled by Fentanyl

Maryland, a state that already had one of the country’s most punishing overdose mortality rates, notched a record-high number of drug deaths last year. The grim milestone was fueled by an alarming increase of fentanyl-related fatalities. Despite renewed efforts to …

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Boy’s Death During Boating Safety Lesson in New York Results in New Law

A Long Island county where a 12-year-old boy died during a boating safety lesson now has a new law aimed at preventing such tragedies from happening again. Newsday reports that Suffolk County Executive Steve Bellone signed Ryan’s Law on Saturday …

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India Weighs Comprehensive Data Privacy Bill, Similar to EU’s GDPR

A draft of a sweeping data privacy bill has been submitted to India’s government that, if enacted, will restrict the transfer and storage of information on more than 1 billion people by global technology corporations from Facebook Inc. to Google. …

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Travelers Seeks Review of Court Ruling on Crime Insurance and Loss Involving Email Fraud

Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime insurance policy’s computer fraud clause covered a loss due to money transfer involving fraudulent emails. In seeking an en banc …

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Hanover Hires Munich Re’s Cernak to Head Cyber Practice

The Hanover Insurance Group, Inc. has appointed Eric C. Cernak has the head of its cyber practice. In this role, Cernak is responsible for overseeing corporate cyber strategy across all of its commercial lines and specialty businesses, to ensure a …

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Hong Kong Insurer FWD Group Eyes Singapore Listing

Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the matter said. FWD is discussing with advisers the …

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AXIS Launches AXIS Digital Ventures to Accelerate Innovation via InsurTech Partners

AXIS Capital Holdings Ltd. announced the launch of AXIS Digital Ventures, a new unit that will lead enterprise-wide efforts to partner with insurtech companies that focus on high value re/insurance applications, new product opportunities and new distribution and re/insurance business …

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UK Retailer Dixons Carphone Reveals 2017 Cyber Attack Hit 10 Million Data Records

British electricals and mobile phone retailer Dixons Carphone said on Tuesday that about 10 million records containing personal data of customers may have been obtained in a cyber attack in 2017, much higher than its earlier estimates. The company, which …

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Supreme Court Lets Teens’ Climate Lawsuit Proceed to Trial

The U.S. Supreme Court refused to halt a novel and sweeping lawsuit pressed by children and teenagers seeking to force the federal government to take steps against climate change. Rejecting a Trump administration request, the high court let the case …

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Uber Halts Driverless Truck Manufacturing to Focus on Cars

Uber will stop developing self-driving trucks that have been hauling cargo on U.S. highways, the ride-hailing company said on Monday, seeking to focus its autonomous-vehicle technology solely on cars. Through its acquisition of Otto in 2016, Uber had sought to …

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1 Arrested, Second Suspect Sought in Georgia Roofing Insurance Fraud Scheme

Fraud investigators with the Georgia Department of Insurance have arrested a Columbus, Ga., roofing contractor and issued warrants on his employer for intentionally vandalizing the roofs of two homes in Muscogee County, according to a statement from Georgia Insurance Commissioner …

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Arch Capital to Open Headquarters in North Carolina

Arch Capital Group Ltd. (ACGL), a globally diversified financial services group providing insurance, reinsurance and mortgage insurance, will open an operational hub in Raleigh, N.C., and create 365 new jobs over four years, according to a statement from North Carolina …

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Frontline Insurance Secures First Cat Bond of $350M for Southeast Storms

Swiss Re Capital Markets has structured and placed the issuance of $350 million of insurance-linked securities by Frontline Re Ltd. on behalf of Frontline Insurance. The transaction is Frontline’s debut catastrophe bond and covers named storms in Alabama, Florida, North …

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Insurer Settles Suit Over Toddler Death in Hot Oregon Apartment for $100K

An insurance company for a Portland apartment complex has agreed to pay $100,000 to settle a lawsuit filed by the mother of a 2-year-old girl who died in her bedroom after a heater malfunctioned. In a lawsuit that had sought …

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Michigan State Stops Victim Payments, Sues Insurers Over Nassar Claims Coverage

Michigan State University has halted payments from a $10 million fund it set up for counseling services for victims of now-imprisoned former sports doctor Larry Nassar amid concerns about possible fraudulent claims. It also has filed suit against 13 insurance …

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Higginbotham, Sellers-Patterson Insurance Merge Operations in Tyler, Texas

Higginbotham and Sellers-Patterson Insurance have merged operations in Tyler, Texas. Sellers-Patterson, led by Linda Sellers, is Higginbotham’s second office in Tyler; the first established in 2014 when Higginbotham entered the market. The union gives the combined firm a local workforce …

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Lopata to Take Over as President, CEO at Farmers Alliance Companies

Brian D. Lopata has been named president and chief executive officer for McPherson, Kansas-based Farmers Alliance Companies, effective Aug. 27, 2018. As president and CEO, Lopata will have day-to-day responsibility for all functional areas of the companies, working directly with …

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LWC’s Office of Workers’ Comp Administration Adds Lee as Fraud Manager

Darrick Lee, a licensed attorney in both Louisiana and Texas, has been appointed fraud manager in the Office of Workers’ Compensation Administration (OWCA) at the Louisiana Workforce Commission. Lee has 13 years of civil service experience. Prior to this appointment, …

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Feds Approve Waiver for Wisconsin for Health Reinsurance Program

The federal government has granted Republican Gov. Scott Walker’s request to offer a reinsurance program designed to lower premium rates for most people in the individual market in 2019. The federal waiver will allow Wisconsin to offer a $200 million …

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Wisconsin Refinery Damaged by Explosion, Fire Expects 2020 Restart

A Wisconsin refinery damaged by an explosion and fire earlier this year is not expected to resume operations until 2020. WDIO-TV reports Canada-based Husky Energy said in its second-quarter earnings statement Thursday that the refinery in Superior, Wisconsin, is not …

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Oklahoma Quake Lawsuit Against Oil Company Moves to Class-Action Status

Central Oklahoma residents won’t get a trial this fall for a case against an oil company accused of triggering earthquakes that damaged homes and buildings. The Journal Record reports that a Cleveland County judge outlined rules for the class-action case …

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California Supreme Court: Starbucks, Others Must Pay Workers for Off Clock Work

Starbucks and other employers in California must pay workers for minutes they routinely spend off the clock on tasks such as locking up or setting the store alarm, the state Supreme Court ruled. The unanimous ruling was a big victory …

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Hearst Joins Lockton as Construction Leader in the Mountain West Region

Insurance broker Lockton has added Brian Hearst as senior vice president and construction manager for the Mountain West region. Hearst has nearly 30 years of experience in construction broking, underwriting, risk management and claims. He started his insurance career with …

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Northern California Wildfire Rages; More Deaths, Evacuations Reported

Thousands of dazed evacuees struggled to keep their emotions in check while trying to take care of themselves and their pets as a deadly wildfire in Northern California raged into its fourth day. Anna Noland, 49, was evacuated twice in …

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Student Hit in Eye by Baseball Sues New Hampshire’s Dartmouth College

A Dartmouth College student who was seriously injured during baseball practice is suing the Ivy League school. In a lawsuit filed Thursday, Colton French said he was pitching to a batter in a narrow indoor area enclosed by netting in …

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RSG to Acquire Certain Assets of New York’s ARC Specialty Brokerage

Ryan Specialty Group LLC (RSG) and ARC Excess & Surplus LLC (ARC) have entered into a definitive agreement in which RSG will acquire certain assets of ARC Specialty Brokerage LLC, the P&C Division of ARC, a wholesale insurance brokerage based …

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City Council Aims to Make New York First U.S. City to Cap Uber, Others

New York City is moving toward becoming the first major U.S. municipality to cap ride-sharing services, sparking a tsunami of protest on Friday from Uber and others, which warned that those living in far-flung neighborhoods will suffer most. The City …

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AGCS Taps AIG’s Davì-Greer as Regional Head of Financial Lines

Allianz Global Corporate & Specialty (AGCS) has appointed Stefania Davì-Greer to head of Financial Lines for Regional Unit London (RUL). Based in London, Davì-Greer will join in October with responsibility for the strategic direction and management of AGCS’ financial lines …

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Flood Insurance Will Lapse If Senate Does Not Act

There is not a lot time left to avoid a lapse in the federal government’s flood insurance program. The Senate is expected to follow the House, which voted last week to temporarily reauthorize the program. Senate Majority Leader Mitch McConnell …

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Where Oil Prices Meet Trucker Fatalities: ‘Death Highway’

Route 285 is the formal designation for one of the main roads used to carry supplies to and from the oilfields of West Texas. Locals call it something else: “Death Highway.” Last year, 93 people died in accidents involving trucks …

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Malaysia Airlines Flight 370 Was Likely Steered Off Course Deliberately: Report

Malaysia Airlines Flight 370, missing since 2014, was probably steered off course deliberately and flown to the southern Indian Ocean, according to the Malaysian government’s safety report into the disaster. MH370 vanished on March 8, 2014, en route to Beijing …

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Strong Earthquake Hits Indonesia’s Lombok Island, Killing at Least 14 People

A strong and shallow earthquake early Sunday killed at least 14 people and injured more than 160 on Indonesia’s Lombok island, a popular tourist destination next to Bali, officials said. The quake damaged more than 1,000 houses and was felt …

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Chubb Partners with DynaRisk to Offer Cyber Loss Mitigation Service

Chubb has partnered with cyber security company DynaRisk to offer a cyber loss mitigation service to Chubb’s Cyber Enterprise Risk Management policyholders in the UK and Ireland. The DynaRisk service assesses a person’s devices and digital footprint to provide a …

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French Insurer CNP Declines to Comment About Merger Speculation

French insurer CNP, which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. CNP’s first-half net profits rose 2.3 percent to 672 million euros ($783.55 million). Excluding the effects …

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Tropical Storm Hits Japan, Heads for Region Still Recovering from Floods

A tropical storm in Japan disrupted transportation and knocked out power to thousands of homes in its path as it headed west toward a region still recovering from devastating rains earlier this month. At least 16 people have been injured, …

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Jury Awards IBM $83 Million in Closely-Watched Patent Dispute with Groupon

A U.S. jury last Friday awarded International Business Machines Corp. $83 million in a patent dispute with e-commerce company Groupon Inc. A jury in Delaware said Groupon used IBM’s patented e-commerce technology without authorization following a two-week trial. “IBM invests …

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Jury Awards $1.25 Million in University Harassment Case But Denies Retaliation Claim

A jury awarded $1.25 million to a former Columbia University finance professor whose senior colleague sent dozens of emails disparaging her to industry professionals after she lodged a harassment complaint against him. The verdict is a fraction of the $16 …

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First Facebook Investor Suit Filed Over Plunge in Shares

Facebook Inc. and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth. …

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Security First Insurance Co. Enters Florida’s Growing Private Flood Market

A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First Insurance Co. has launched an optional …

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350 People Sickened by Norovirus at Kentucky Mall Food Court

The food court illness that sickened 350 people in Kentucky has been identified as norovirus. Citing a Lexington-Fayette County Health Department release, the Lexington Herald-Leader reports that test results from those who had gone to the Fayette Mall food court …

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Tennessee to Appeal Federal Ruling Over Revoking Driver’s Licenses

Tennessee is appealing a landmark federal court ruling that says it’s unconstitutional for the state to revoke or suspend driver’s licenses over unpaid court costs. David Purkey, commissioner of the state Department of Safety and Homeland Security, filed a notice …

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New NAS Cyber Product Targets High Net Worth Individuals

NAS Insurance has launched a stand-alone cyber insurance product for high net worth individuals and their families. NetGuard SELECT provides cyber protection, fraud detection, and dark web and social media monitoring services to fight evolving cyber risks. More than the …

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Texas Seeks Input on Draft of Revisions to Catastrophe Data Call Standard

Texas insurance regulators have responded to insurer requests for revisions to its standards for catastrophe data calls and is seeking input on the proposed changes. The Texas Department of Insurance said following Hurricanes Ike and Harvey, insurers participating in data …

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Northern California Wildfire Kills One; Hundreds Evacuate

At least one person died in a wildfire that swept through Northern California, destroying buildings and forcing hundreds of residents to evacuate late Thursday. The blaze, which killed a bulldozer operator working on fire lines, ripped through the villages of …

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Hartford’s Q2 Results Reflect Big Commercial Lines Gain

The Hartford reported improved results for the second quarter compared to the same quarter last year, particularly in its commercial lines and group benefits businesses. Overall net income was $582 million in second quarter 2018 compared with a net loss …

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Three Workers Hurt in Virginia Custom Machinery Plant Explosion

An explosion has injured three workers at a company in Virginia that makes custom machinery. News outlets report the employees were hurt Wednesday in the explosion at Thomas Industrial Fabrication in Woolwine, Va. Patrick County Emergency Services Coordinator Steve Allen …

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Massachusetts’ Rogers & Gray Insurance Hires Marshall

Rogers & Gray Insurance, a South Dennis, Mass.-headquartered, independent insurance agency, has appointed Patrick Marshall as a business insurance consultant. Marshall comes to Rogers & Gray from Denver, Colo.-based Xactly Corporation, a cloud-based software company, where he served as an …

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Brightway Insurance Opens Second Store in New York

Brightway Insurance, a national property/casualty insurance retailer selling through a network of franchised independent stores, has opened its second store in New York. Julio Ramirez opened Brightway, The Ramirez Agency in New Rochelle, N.Y., on July 23. The news of …

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Pittsburgh Sees Hands-On Restart of Uber’s Self-Driving Cars

Uber has taken the first step toward relaunching its self-driving cars on Pittsburgh-area streets four months after a fatal accident involving one of the cars in Arizona. A spokeswoman said the company put a handful of vehicles back on the …

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Gun Control Advocates Take Aim at 3-D Printed Guns Deal by Trump Administration

A Texas nonprofit firm’s plan to publish technical designs for firearms online so anyone with a 3-D printer can use them to manufacture fully operational “downloadable” guns is drawing fire from New Jersey and national gun-control groups. Defense Distributed would …

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Chubb Takes New Steps in Its Brexit Preparations to Redomicile to France

Chubb European Group announced it has achieved an important regulatory step in its Brexit preparations to redomicile its businesses to France. This provides Chubb’s customers “with continuous, uninterrupted service regardless of the outcome of Brexit negotiations between the UK and …

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Markel’s New German Insurer Rated ‘A’ by A.M. Best

Markel Corp. announced that its newly licensed German insurance company, Markel Insurance SE (MISE), has been given an “A” financial strength rating by A.M. Best. MISE has been established to meet the insurance needs of clients located or with risk …

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International Underwriting Association Issues 2nd Brexit Contract Continuity Clause

A second Brexit contract continuity clause has been published by the International Underwriting Association (IUA). The association in June issued a policy clause to help companies manage insurance contracts as the UK leaves the European Union and this has now …

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Nigerian Regulator Triples Insurers’ Minimum Capital Requirement

Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new levels of capital by Jan. 1, according to …

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Fires, Floods & Heatwaves on 3 Continents; Blame the Jet Stream, a Warming World

Sweltering? Swimming? Choking on wildfire smoke? Blame it on the jet stream and a warming world. Kinked, buckled, stuck or stalled, it doesn’t matter how you describe it, the jet stream — the ribbon of wind that circles the Earth …

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After Recent Historic Floods, Japan Readies for Typhoon Jongdari

Typhoon Jongdari is set to make landfall on Japan’s mainland this weekend, bringing heavy rain and strong winds to much of a country hit in recent weeks by a deadly heatwave and historic flooding. The typhoon was located off Chichijima, …

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2 Florida Towns No Longer Designated as Top U.S. Speed Traps

After being number 1 for almost a quarter of a century, the Florida towns of Waldo and Lawtey are now no longer designated “Traffic Traps” by AAA. AAA’s Florida public affairs director Matt Nasworthy tells The Gainesville Sun they’ve removed …

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Engine Flaws Similar to Southwest’s Found at Other Airlines

Flaws in jet engine fan blades like one that cracked and broke loose in April, killing a Southwest Airlines Co. passenger, have been discovered on planes operated by several carriers, and the manufacturer is moving to further tighten inspections. General …

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Five Key Takeaways from California’s Watershed Privacy Law

California recently enacted a sweeping new privacy law, the California Consumer Privacy Act of 2018, which is likely to have broad implications for organizations providing services to, or collecting data from, California consumers. The CCPA shares similar themes with the …

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California Workers’ Comp Changes Helping System, Division Chief Says

California’s workers’ compensation system has undergone numerous changes since the implementation of the sweeping reforms that started in 2013 with Senate Bill 863. In the last few years medical provider fraud has been addressed by subsequent new laws, a plague …

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Crypto Prediction Market on Blockchain Raises Regulatory Concerns

The next confrontation between government regulators and a blockchain startup appears set to ensnare a prediction market platform that goes by the name Augur. After going live on July 10, Augur allows anyone to create contracts to predict future events …

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Rivera Named CEO of Tokio Marine HCC

Tokio Marine HCC announced that Susan Rivera has been appointed its next chief executive officer effective Sept. 1, 2018, replacing Christopher J.B. Williams, the current CEO. Williams is taking on a new role as managing executive officer and co-head of …

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A.M. Best Upgrades Ratings of North Carolina Members of IFG Companies

A.M. Best has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of A (Excellent) of the members of the IFG Companies (IFG): First Financial Insurance Co., its subsidiary, Alamance Insurance Co., …

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Mississippi Police Officer Awarded $20K by Jury in Mold Complaint Suit

A police officer in Mississippi has been awarded $20,000 in damages after a federal jury ruled his police department retaliated against him for complaining about mold in his office. The Northeast Mississippi Daily Journal reported that Brandon Garrett was a …

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Texas Contractor Ordered to Pay $250K After Worker Fatality at Dallas Site

A Texas construction contractor has been ordered to pay $250,000 in criminal and civil penalties an employee suffered a fatal fall at an apartment complex in Dallas, federal safety officials said. U.S. District Court Judge Ed Kinkeade ordered Design Plastering …

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Recent Hail Damage in South Dakota’s Northern Black Hills Costing Millions

Recent hail damage to public buildings in Deadwood, South Dakota, is expected to exceed $2 million. Transportation and Facilities Director Tom Kruzel says a $1.8 million damage estimate involves only the 45 public structures in town, and doesn’t include city …

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New Brightway Agency Opens in Baton Rouge

Richard Ingram has opened Brightway, The Ingram Agency in Baton Rouge, La. Michael Snow joins him as an agent in the new agency. A U.S. Army veteran who lost his left arm after being struck by a roadside bomb in …

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A.M. Best Revises Outlooks to Negative for Wisconsin Municipal Mutual Insurance

A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” for Wisconsin Municipal Mutual Insurance Co. (WMMIC) in Madison, Wisconsin. The company provides …

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Wisconsin’s Integrity Insurance Names Collies as VP, Sales and Marketing

Integrity Insurance in Appleton, Wisconsin, has appointed Bobbie Collies vice president of Sales and Marketing. In her new role, Collies leads the development and execution of sales and marketing strategies that address business needs to deliver profitable growth and enhance …

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Petrobras Reaches $3.5M Settlement in Texas Refinery Emissions Case

A U.S. unit of Brazilian state-run company Petrobras agreed to pay $3.5 million to settle a lawsuit over alleged toxic emissions from its Pasadena, Texas, oil refinery, the company said. The settlement, which is subject to approval by a federal …

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PG&E to California Governor on Fire Liability Plan: It’s Not Enough

California Governor Jerry Brown issued a plan this week to help the state’s embattled utilities facing liabilities from wildfires. For PG&E Corp., it’s not good enough. “It’s insufficient,” PG&E Chief Executive Officer Geisha Williams said on the company’s second-quarter earnings …

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Oregon School Settles Lawsuit Over Student’s Pro-Trump Shirt

Lawyers for an Oregon high school student who was disciplined for wearing a T-shirt promoting President Donald Trump’s effort to build a border wall say they have reached a settlement of his lawsuit. The lawyers say that settlement entails a …

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Two Women Sentenced in Washington for Insurance Fraud

Two Washington state women have been sentenced after pleading guilty to committing insurance fraud, the state insurance department announced. The sentencing is the result of an investigation conducted by the Criminal Investigations Unit (CIU) at Washington Office of the Commissioner …

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XL Catlin to Build On-Demand Cyber Insurance Product With Slice Labs

Slice Labs Inc., a U.S. company offering cloud-based on-demand insurance, has partnered with XL Catlin to offer an on-demand cyber insurance product for U.S. small and medium-sized business (SMBs) built on the Slice Insurance Cloud Services (ICS) platform. The ICS …

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Gun Safety Legislation Proposed for Seattle Area

Seattle-area officials are considering five pieces of legislation that would require warning signs outside of gun shops and secure firearm storage among other things. King County Council Chairman Joe McDermott and Councilmember Jeanne Kohl-Welles introduced the five-piece legislation on Tuesday. …

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Berkshire Hathaway GUARD Now Writing Accountants Professional Liability in Texas

Berkshire Hathaway GUARD Insurance Companies is now offering professional liability insurance for accountants in Texas. The new accountants’ professional liability product is designed to meet the needs of smaller firms with less than 10 accountants and less than $1 million …

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Aspen MGA, Tower Hill Specialty Partner on Property Programs in Texas

Aspen Managing General Agency, a division of Atlanta-based Allstar Financial Group, has partnered with Tower Hill Specialty (THS) to offer property programs in Texas. Tower Hill Specialty offers a range of coverages for homes valued up to $500,000, including owner, …

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Wisconsin Dental Benefits Firm to Pay $98K to Settle Race Discrimination Suit

Scion Dental, a Wisconsin-based dental benefit administration company, has agreed to pay $98,000 and to provide other relief to settle a race discrimination case brought by the U.S. Equal Employment Opportunity Commission (EEOC). According to a lawsuit filed by the …

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Tornado Confirmed in Eastern Alabama

The National Weather Service says a tornado toppled trees and damaged homes in Opelika in eastern Alabama. Al.com reports it was an EF-0 tornado with winds of 85 miles per hour that touched down on Saturday evening. No injuries have …

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South Dakota Moves to Liquidate Surety Insurer ReliaMax

ReliaMax Surety Co. has been placed into liquidation by the South Dakota Division of Insurance. The South Dakota DOI petitioned the Hughes County Circuit Court on June 12, 2018, to place ReliaMax into liquidation due to insolvency. Judge Patricia J. …

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Texas Woman Gets 30 Years Prison for Arson, Insurance Fraud

A Dallas woman with a history of filing 31 insurance claims against a dozen companies got burned when one turned out to be arson, the Texas Department of Insurance announced earlier this month. Genevieve Thompson was sentenced to 30 years …

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Indiana Schools to Receive 3,200 Metal Detectors

Hundreds of Indiana schools have requested more than 3,200 hand-held metal detectors under a state program aimed at improving school safety that offers the devices for free. Republican Gov. Eric Holcomb announced the program in early July, weeks after a …

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California Governor Backs Change to Wildfire Liability Standards for Utilities

California Gov. Jerry Brown is backing softening the standard that makes electric utilities financially liable when their equipment causes wildfires as the state faces more severe blazes in the midst of climate change. Brown sent lawmakers draft legislation that would …

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Assured Risk Cover Expands StormPeace Parametric Insurance to Florida Businesses

Assured Risk Cover, a provider of parametric hurricane insurance, launched a commercial insurance policy for small businesses in Florida under the StormPeace name. The policy contains all the features of the StormPeace residential policy, plus business interruption coverage with or …

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Missouri’s U.S. Sen. McCaskill Wants Tighter Rules on Duck Boats After Accident

Democratic U.S. Sen. Claire McCaskill announced that she wants to enshrine into law federal recommendations to improve duck boat safety such as getting rid of canopies that can trap passengers if the vehicles sink, a move that comes after a …

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Pennsylvania Warns Consumers, Insurers About Rising National Auto Theft Rates

Pennsylvania Insurance Commissioner Jessica Altman has reminded drivers to take precautions to prevent auto theft, as a recent report shows the rate of car theft nationally rising by more than four percent in the first half of 2017. She also …

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Marsh & McLennan Reports Q2 Revenues Up

Marsh & McLennan Companies reported consolidated revenue was $3.7 billion, an increase of 7 percent over the second quarter of 2017. Operating income was $691 million for the quarter. In the Risk & Insurance Services unit, revenue was $2.1 billion …

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Construction Company Indicted for Wage Theft, Insurance Fraud in New York

CRV Precast Construction LLC (CRV) and six of its employees have been indicted for misclassifying workers as lesser-skilled, underpaying them and falsifying information about payroll and employees, including a worker who was killed at a company job site. The defendants …

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Pennsylvania Flash Flooding Leads to Evacuations, Amusement Park Closing

Heavy downpours soaked parts of central Pennsylvania, causing evacuations and forcing an amusement park to close for the second time this week. Hersheypark announced it would be closed Wednesday. The park closed Monday after heavy rain and flash flooding caused …

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Corporate Fines, Penalties Plummet Under Trump Administration

While Donald Trump has positioned himself as a tough, “law and order” president, he has mostly excluded one group of offenders from his sights: those of the corporate class, according to a report released Wednesday by Washington-based watchdog Public Citizen. …

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Marsh to Sell Risk Management Software Unit ClearSight to Riskonnect

Risk management services company Riskonnect said it has agreed to acquire Marsh ClearSight, a risk, safety, and claims software and services and a business unit of insurance broker Marsh. Terms of the transaction, which is expected to close in the …

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Jury Could Define University Liability in Sexual Harassment Trial

A federal jury will decide what really happened between a former junior finance professor and the tenured Columbia Business School staff member she said sexually harassed her — and whether the university did enough to protect her once she reported …

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Trump, EU Agree to Trade Talks; Place Auto Tariffs on Hold

In what the EU chief called a “major concession,” U.S. President Donald Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade …

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India’s HPCL Cancels Iran Oil Purchase After Insurer Refuses to Provide Cover: Sources

India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, …

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Qatar Re Ceases Writing Business from Singapore Branch Office

Qatar Reinsurance Co. Ltd. has announced that, with effect from 20 July 2018, it has ceased writing new and renewal business from its branch office in Singapore. The company will work closely with its Singapore-based staff, its clients and broking …

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Global 1H Insured Natural Disaster Losses 40% Lower than 10-Year Average: Aon

Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according …

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Insurers, Banks Warned to Prepare for Market Turmoil on Brexit Day

The Bank of England is war-gaming with lenders and insurers for potential market turmoil on Brexit day. Sam Woods, the central bank’s top supervisor, said contingency planning for Britain’s withdrawal from the European Union will be similar to its preparations …

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Reinsurer SCOR Reports 37% Drop in Q2 Net Profit on U.S. Tax Reform

French reinsurer SCOR said its net profit in the second quarter of this year fell 37 percent to 96 million euros ($112.58 million) because of an accounting charge related to tax reforms in the United States. Excluding the 62 million …

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MGA Sciemus Rebranded as Occam Underwriting, New CEO Appointed

Sciemus, a specialty managing general agency (MGA), is undertaking a series of changes starting with a new name, Occam Underwriting. “Taking its name from ‘Occam’s razor,’ the problem-solving principle that the most straightforward solution is best, Occam Underwriting will bring …

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Brexit Is Greatest Structural Challenge Facing London Company Market: IUA Chairman

Brexit is the greatest structural challenge facing the London company market, said the chairman of the International Underwriting Association, Malcolm Newman. The UK’s break from the EU is affecting insurers, brokers and clients in varying ways, but none felt as …

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Extreme Weather in Europe and Asia Sparks Wildfires, Floods

Extreme weather that’s gripping northern Europe and parts of Asia may persist through early August, prolonging a deadly heatwave that’s parched crops and sparked devastating forest fires. Temperatures have risen to a record from Japan to Norway because of a …

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Seeman Holtz Acquires Lakes Insurance Group of Florida

Seeman Holtz Property & Casualty, Inc. has acquired Lakes Insurance Group, a South Florida agency specializing in commercial insurance serving thousands of South Florida business owners. With this acquisition, Seeman Holtz Property & Casualty continues to strengthen its commercial insurance …

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Canadian Insurer Backs Autonomous Car Startup in Florida Retirement Community

There’s a village in Florida where self-driving cars rule the road, and a Canadian insurance firm wants to come along for the ride. Toronto-based Intact Financial Corp. is investing $3 million in startup Voyage as the companies seek to shape …

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9 California Restaurants Cited for Failing to Provide Workers’ Comp

A joint enforcement strike force issued more than $200,000 in administrative fines to nine Contra Costa County, Calif. restaurants for failing to provide workers’ compensation insurance. Investigators from the Contra Costa District Attorney’s Office, Department of Industrial Relations’ Labor Commissioner’s …

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San Francisco May Screen Insurers for Their Fossil Fuels Investments

The San Francisco Board of Supervisors has become what is believed to be the first U.S. municipal body to try to force insurance companies to stop insuring and investing in fossil fuels. The board on Tuesday voted unanimously in favor …

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House Passes Another Stop-Gap Flood Insurance Extension; Senate Expected to Follow

The House of Representatives passed a measure to reauthorize the nation’s flood insurance program for four months beyond its current July 31 expiration date. The House measure to renew the National Flood Insurance Program (NFIP) until November 30, 2018, contains …

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Auto Insurers Lose Appeal for Dismissal of Complaint in Louisiana Claims Dispute

In late June, the Louisiana Supreme Court ruled against a pair of insurers that sought summary judgement dismissing complaints against them in a case involving auto insurance claims. At issue was whether or not the insurance companies and their insureds …

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Texas Sees 10.6% Growth in Surplus Lines Premium at Mid-Year

May 2018 was the highest-grossing month for surplus lines premium in Texas, with $681 million recorded, the Surplus Lines Stamping Office of Texas (SLTX) reported. Total premium in Texas has increased to $3.06 billion, as of June 30, 2018. This …

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Two Illinois IHOP Restaurants to Pay Nearly $1M to Settle Sexual Harassment Suit

Two International House of Pancakes (IHOP) franchises in southern Illinois will pay $975,000 and furnish other relief to settle a systemic sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today. The EEOC …

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12 Sent to Hospital After Carbon Monoxide Leak at San Antonio Hotel

Authorities say a carbon monoxide leak at a Texas hotel blamed on a water heater has sent 12 guests to a hospital but all should recover. The San Antonio Fire Department reports the leak was discovered around 2 a.m. Tuesday …

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Kansas Insurance Commissioner Sues Governor Over $8M Fund Transfer

The Kansas insurance commissioner seeking the Republican gubernatorial nomination is trying to prevent Gov. Jeff Colyer from taking $8 million this year from a state insurance fund. Ken Selzer has filed a lawsuit seeking a court order to block Colyer …

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Michigan Commission: Investigate LGBT Discrimination Claims Despite AG’s Opinion

The Michigan Civil Rights Commission has directed an agency to continue investigating complaints of discrimination based on sexual orientation and gender identity, days after the state attorney general declared the basis for the probes to be invalid because state law …

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K&K Launches Program for Aerial Attractions

K&K Insurance Group, Inc. has launched a new program in conjunction with Hibbs-Hallmark & Company offering insurance designed specifically for aerial attractions such as zip lines operators, canopy tours, ropes/challenge courses and aerial adventure parks. No prior appointment or agreement …

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Heavy Rainstorm Damaged New Mexico Homes, Infrastructure

Raging waters from the Santa Fe River and arroyos have caused damage to Santa Fe, N.M. homes, city facilities and infrastructure following a heavy rainstorm. More than 3 inches of rainfall were reported in some areas of northern Santa Fe …

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Colorado Cleaning Up After Mudslides, Flooding

People in southern Colorado are cleaning up after heavy rain triggered mudslides and flooding and hail piled up like snow. Residents and businesses in Manitou Springs near Colorado Springs were told to evacuate because of Monday’s rain. Flood sirens were …

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California Governor Taking PG&E Closer to Fire Law Changes

California utility giants PG&E Corp. and Edison International are one step closer to changing a state law that has exposed them to billions of dollars in wildfire liabilities. Late Tuesday, California Gov. Jerry Brown proposed a bill that would require …

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Ascot Creates U.S. Trade Credit Division; Hires Collins, Barrett to Lead

Bermuda-based specialty insurer Ascot has created a trade credit insurance division with the appointments of Doug Collins as executive vice president of Trade Credit and Anthony Barrett as senior vice president of Trade Credit. Collins, who will lead all aspects …

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Chubb Q2’s Results Reflect Continued P/C Pricing Momentum

Chubb has a very good second quarter in both underwriting and investments, reporting net income of $1,294 million compared with $1,305 million for the same quarter last year. P/C net premiums written increased 5.6 percent to $7.5 billion and global …

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Burns & Wilcox Hires Cunningham to New York City Office

Burns & Wilcox, a wholesale insurance broker and underwriting manager, has hired Jeffrey R. Cunningham to its New York City office as a senior broker in its Environmental Insurance practice. Cunningham previously served in leadership roles at American Risk Management …

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A.M. Best Assigns Credit Ratings to Clearwater Select Insurance Company

A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ to Clearwater Select Insurance Company, an insurance company based in Stamford, Conn., that specializes in auto, home, life and business insurance. …

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The Maryland Insurance Administration Continues Efforts to Stop Insurance Fraud

In the first half of 2018, Maryland Insurance Administration (MIA) investigations led to the criminal prosecution of 12 people for committing insurance fraud and the issuance of 25 civil fraud orders. These enforcement efforts resulted in a combined total of …

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Willis Towers Watson Strengthens Facultative Reinsurance Team in France

Willis Towers Watson announced it has reinforced its existing facultative reinsurance business in France by strengthening and growing its Paris-based team. The global advisory, broking, and solutions company has strengthened its proposition by creating an independent and dedicated team of …

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Lyft Faces Patent Suit by Professor Over Ridesharing Model

A retired Georgia Institute of Technology engineering professor described as a “pioneer” in developing the idea of ride sharing sued Lyft Inc., claiming it infringed his patent for technology underlying the core of its business model. According to a complaint …

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Engineers Struggled for 24 Hours to Prevent Laos Dam Collapse; at Least 19 Dead

As the search continues in Laos for hundreds of people still missing in deadly floods caused by a collapsed dam, the South Korean firm helping to build the damaged hydropower project said it warned the government and began evacuating villages …

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Study Warns of Cyber Hacking Risk to Firms, Agencies Using SAP, Oracle Management Software

At least a dozen companies and government agencies have been targeted and thousands more organizations are exposed to data breaches by hackers exploiting old security flaws in management software, two cyber security firms told Reuters. The U.S. Department of Homeland …

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UK Financial Services Sector to Remain Largely Unscathed from Brexit: Barclays’ Chairman

Britain’s banking industry will emerge largely unscathed from Brexit and retain its position as one of the world’s top two financial centers for the foreseeable future, Barclays’ Chairman John McFarlane told Reuters. Home to the world’s highest number of banks …

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Flood Model Development Helps Hiscox Re & ILS Enter U.S. Flood Protection Market

Less than 12 percent of U.S. homeowners have a flood insurance policy, despite the fact that flooding is the country’s most common natural disaster, said Katy Sivyer, underwriter for North America and the Caribbean at Hiscox Re & ILS, in …

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Chinese Acquisitions of High-Tech Firms Pose Security Risk: German Spy Chief

Chancellor Angela Merkel’s top counterintelligence official said Chinese acquisitions of high-tech companies in Germany represent a potential national-security threat. The head of Germany’s top domestic intelligence agency, Hans-Georg Maassen, highlighted the issue in an annual report on security risks that …

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Fewer Than 5,000 UK Financial Services Jobs Expected to Move by ‘Day One’ of Brexit

Fewer than 5,000 financial jobs might move out of Britain by “Day One” of Brexit and future relocations will depend on new trading terms with the European Union, Bank of England Deputy Governor Sam Woods said on Wednesday. “We have …

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China’s Fosun Weighs Acquisition of Belgian Insurer Ageas

Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of Belgian insurer Ageas in what could be its boldest move to expand its international footprint, people familiar with the matter …

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West Virginia to Get $690M for Flood Management Projects

West Virginia will receive $690 million in federal funding for flood management and repair projects. U.S. Sens. Joe Manchin and Shelley Moore Capito announced the funding July 18 from the U.S. Army Corps of Engineers. A statement from the senators …

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Court: Georgia Worker Not Protected from Firing Because of Sexual Orientation

A federal appeals court in Atlanta last week reaffirmed its decision that workers aren’t protected against workplace discrimination based on sexual orientation, though two of the 11 judges strongly disagreed. Gerald Lynn Bostock asserted in a lawsuit originally filed in …

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Miami Beach Building Collapse Injures 1

Police say a 12-story building on Miami Beach that was slated to be torn down has collapsed, injuring one person. Miami Beach police officials tweeted that the victim was taken to Jackson Memorial Hospital in Miami on Monday morning. A …

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Alliant Adds 3 to Georgia-Based Construction Services Team

Alliant Insurance Services, a nationwide specialty insurance brokerage firm, has made three additions to its Construction Services Group headquartered in Alpharetta, Ga. Danielle Maxey has joined as account executive. In this role, she will continue to service clients operating in …

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BondExchange Upgrades Surety Bond Agent Platform

In response to feedback from its agents, BondExchange, a wholesale surety broker, has upgraded its insurance agent platform, which offers access to a database of more than 10,000 different surety bonds for their customers. The new system was designed based …

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Chicago Insurance Exec Accused of $13.5M Fraud

A Chicago-based vice president of an insurance underwriting group fraudulently obtained more than $13.5 million from a corporate client by fraudulently issuing and collecting premium payments on “matching deductible” policies, according to federal criminal charges filed today by the U.S. …

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Wildfires Burn in Texas as High Heat, Low Humidity Persist

Triple digit temperatures, low humidity and extreme drought conditions across much of Texas have firefighters battling wildfires and residents doing their best to escape the heat. The state’s largest wildfire, the Harmon Road Fire, continues to burn in Coryell County …

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Nebraska Lawmakers Mull Stricter Texting Ban

A year after Iowa began cracking down on texting while driving, advocates and lawmakers in Nebraska hope to implement a similar policy. Nebraska and Iowa both banned texting while driving in 2010 but classified the infraction as a “secondary offense,” …

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Louisiana State Police Arrest 5 in Staged Crash Case

Louisiana State Police detectives with the Insurance Fraud/Auto Theft Unit have arrested five people for violations of Louisiana insurance fraud laws in relation to an alleged staged crash in Evangeline Parish. The LSP reported that an initial investigation revealed in …

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Pedestrian Deaths on the Rise in Nebraska

Nebraska’s highway safety administrator says it’s tough to explain why more pedestrians have been killed this year on the state’s roads compared to last year. Figures from the Nebraska Department of Transportation’s Highway Safety Office show that 13 pedestrians have …

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Texas Energy Services Firm to Pay $39K in North Dakota Racial Harassment Suit

The U.S. Equal Employment Opportunity Commission says a Texas-based oilfield service company operating in North Dakota will pay $39,900 to settle a racial harassment lawsuit. The EEOC’s lawsuit accused Cudd Energy Services of violating an employee’s civil rights by subjecting …

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M&A Deals Likely to Become More Challenging as Sellers Seek High Deal Values

The current operating environment continues to prompt mergers & acquisitions (M&A) among insurers and reinsurers. However, the number of potential M&A candidates has declined and sellers’ expectations of high deal values could make future transactions more challenging, according to a …

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Tropical Storm in Vietnam Triggers Floods, Killing at Least 20 People

Flooding triggered by a tropical storm has killed at least 20 people and left over a dozen missing in northern Vietnam, local media reports said. Ten people drowned in floods caused by heavy rain in Yen Bai province after Tropical …

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Second Group Reaches $11.5M Settlement in Washington Landslide

A second group of relatives of people killed in the deadly Oso landslide has reached an $11.5 million settlement with Washington state and a timber company that logged an area above the site of the collapse. The Daily Herald reported …

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Dam Outburst Creates Flooding Concern in Alaska City

Rising water levels have some residents of Alaska’s capital city on edge, following the release of water from a glacially dammed lake. Jessica Voveris is meteorologist with the National Weather Service in Juneau. She says water levels are expected to …

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Utah Bikers Looking for Response to Rising Deadly Traffic Crashes

Utah bikers vented their frustrations about the state of driving safety in response to an unprecedented number of deadly motorcycle crashes. The Deseret News reports a group of about 30 motorcyclists met with law enforcement officials last week in Midvale …

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California Wildfire Continues to Grow Near Yosemite

California firefighters worked in worsening heat Monday to contain a forest fire outside Yosemite National Park. The Ferguson Fire had scorched nearly 53 square miles of timber and brush in the Sierra Nevada west of Yosemite and was just 13 …

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Virginia’s The Hilb Group Acquires Southern Maryland Insurance

The Hilb Group LLC (THG) has acquired Southern Maryland Insurance Inc. (SMI). The transaction became effective July 1, 2018. Located in Bowie, Md., SMI is primarily a property/casualty insurance agency offering coverages to businesses throughout the Mid-Atlantic area. Following the …

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EPIC Insurance Brokers & Consultants Hires D’Agostino in New York City

EPIC Insurance Brokers & Consultants, a retail property and casualty and employee benefits insurance brokerage and consulting firm, has announced that Lou D’Agostino and his Iron Cove Partners team have joined the firm. D’Agostino has more than 17 years of …

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Lift Touches Power Line, Kills Worker at Pennsylvania Industrial Park

Authorities say a lift touched a power line in an industrial park in northeastern Pennsylvania, killing a construction worker. The Luzerne County coroner’s office says 43-year-old Jason Evans of Clarks Summit died from an apparent electrocution. Evans was pronounced dead …

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Baltimore Officials Seek New Rules as Scooters Appear Throughout City

As more people are scooting around Baltimore officials are scrambling to create regulations for the mode of transportation that’s become popular among some residents and raised concerns including safety for others. The Baltimore Sun reported Monday that more than 60 …

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National Security Agency Chief Forms Task Force to Counter Russian Cyber Threats

Paul Nakasone, U.S. cyber commander and director of the National Security Agency, confirmed that he’s created a special task force to address Russian threats in cyberspace. Russia has “great capabilities on which we will certainly be called upon,” Nakasone said …

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The Legal Engine Driving More Than 800 Lawsuits Against Opioid Makers

The place might sound familiar, even if you’ve never been there: the Appalachian foothills, down by the Ohio River, where the sirens scream addiction and death. Twenty-six overdoses in one afternoon. The highest death rate in the state. One in …

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Growing Headache for Corporate Mexico: Robberies of Cargo Trains

Head southeast out of Mexico City for about four hours or so and you will come upon the town of Acultzingo. It is an impoverished, dusty little place nestled up against the rugged peaks of the Sierra Madre. Most inhabitants …

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Metromile Secures $90M in Financing Led by Tokio Marine, Others

San Francisco, Calif.-based startup Metromile Inc. on Tuesday announced $90 million in Series E funding co-led by leading insurance companies Tokio Marine Holdings and Intact Financial. The financing included participation from existing and new investors NEA, Index, Future Fund and …

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Sweden Wildfires Destroy More Than $100M Worth of Forested Land

Swedish authorities said the risk of fires spreading across the country will hit “extreme” levels this week as emergency services battle dozens of blazes that have already destroyed more than $100 million worth of forested land. The Swedish Civil Contingencies …

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Greek Wildfires Claim at Least 49 Lives in Worst Blazes Since 2007

Greek firefighters say that at least 49 people were killed in wildfires near the country’s Attica region as a summer heatwave has increased the risk of blazes across Europe. The fires struck two coastal resorts popular with vacationers from Greece’s …

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UK Faces ‘Abject Future’ After Brexit, Warns Former Lloyd’s Chairman

The U.K. is facing a grim future after Brexit because of the failure of the its politicians to govern responsibly, the former chairman of insurance market Lloyd’s of London wrote in a letter to the Financial Times. “Never in over …

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U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’

The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …

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2 Tornadoes Knock Out Power for 20K People in Kentucky

The National Weather Service has confirmed two tornadoes during severe storms in Kentucky that toppled trees and power lines. The weather service in Louisville says storms on Friday produced an EF-1 tornado in Hart County and an EF-0 tornado in …

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3 Arrested in Georgia for Slip-And-Fall Fraud Scheme, 4th Suspect Sought

Three men were arrested last week for their participation in a staged accident ring operating in South Georgia, according to a statement from the Georgia Department of Insurance. Insurance Commissioner Ralph Hudgens said arrest warrants were issued to Germain Baynard, …

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Ratings Agency Ignites Controversy Over Financial Strength of Florida Insurers

With Florida about to enter peak hurricane season, a state insurance association representing more than a dozen insurers in Florida is hitting back against a recent report from ratings agency Weiss Ratings that identified 10 Florida-based insurers as “weak.” The …

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Contractor Cited in Worker’s Death at Indiana University

Indiana regulators have cited a contractor for serious workplace safety violations found following a worker’s death at an Indiana University construction site. Thirty-five-year-old William M. Brown Jr. of Bloomington died in April when a 10-foot-long limestone slab fell and killed …

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Remodeler of Collapsed South Dakota Building Files for Bankruptcy

The Sioux Falls company that was remodeling the Copper Lounge building when it collapsed in December 2016 has filed for bankruptcy protection. The Argus Leader reports Hultgren Construction’s Chapter 11 filing will enable the company to reorganize as it faces …

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Unexpected Iowa Tornadoes Flatten Buildings, Injure at Least 17

Thousands of people were without power Friday after a flurry of unexpected tornadoes swept through central Iowa, injuring at least 17 people and flattening buildings in three cities. The storms even surprised weather forecasters when they hit the region Thursday …

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Inspector Last Year Reported Sunken Missouri Duck Boat Had Design Flaws

A private inspector said Saturday that he warned the company operating duck boats on a Missouri lake about design flaws putting the watercraft at greater risk of sinking, less than a year before the accident that killed 17 people during …

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AssuredPartners Acquires Hutson Insurance Group in Texas

AssuredPartners Inc. has acquired the Hutson Insurance Group located in Plano, Texas. The Hutson Insurance Group is a full-service insurance broker that has served the Plano and the North Texas marketplace for over twenty years under the leadership of Brian …

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Brown & Riding Adds Pike as Property Broker in Dallas

Brown & Riding Insurance Services Inc. has hired Ryan Pike as a property broker in its Dallas office. Pike specializes in placing difficult manufacturing as well as Property and Inland Marine risks in the oil and gas sector. He in …

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Jury Awards $640K to Washington Man in Excessive Force Case

A federal jury has awarded a Federal Way, Wash. man $640,000 after finding a police officer used excessive force when arresting him at an accident scene in 2014. The Seattle Times reported that the jury gave Josiah Hunter $40,000 for …

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$750K Settlement in Utah Sexual Misconduct Suit

The city of Provo, Utah has reached a $750,000 settlement with five women who say it failed to take action to protect them from alleged sexual harassment and assault by a former police chief. Mayor Michelle Kaufusi said in a …

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Hawaii Jury Sides with Couple in Disability Discrimination Suit

A jury in Hawaii has sided with a Maui couple in a $1.9 million disability discrimination lawsuit against their condo association which fined them thousands of dollars for uncarpeted floors and attempted to sell their unit in foreclosure. Lawyer Eric …

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UK Motor Insurers to Mutualize Claims for Terrorist Attacks Using Vehicles as Weapons

UK motor insurers have voted for the Motor Insurers Bureau (MIB) to handle and pay the claims from victims involved in a terrorist event where a vehicle is used to kill or injure. MIB is the UK’s not-for-profit body which …

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What’s New in Today’s Construction Insurance Market

Brokers who specialize in the construction industry love their clients and are very committed to keeping up with their needs. Ask them, “So what’s new?” and the conversations inevitably veer off in various directions: risk management, pricing, hot areas, technology, …

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GEICO Board of Directors Promotes Connor to VP of New York, New Jersey Offices

The GEICO Board of Directors has promoted Jeremy Connor to vice president of the company’s regional office in Buffalo, N.Y., and its claims office in Marlton, N.J. Connor had served as assistant vice president of claims in Buffalo since 2016. …

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Greenlight Re’s Chief Operating Officer Belfatti to Step Down for Personal Reasons

Greenlight Capital Re, known informally as Greenlight Re, is losing its chief operating officer after he joined the company less than a year ago. The specialist property/casualty reinsurer disclosed that Michael Belfatti would be stepping down as of Sept. 1, …

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Baltimore Lawsuit Blames Oil and Gas Companies for Climate Change

The city of Baltimore filed a lawsuit on Friday against 26 oil and gas companies and entities, including BP Plc, Chevron Corp and Exxon Mobil Corp, for knowingly contributing to what the city called the catastrophic consequences of climate change. …

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Pennsylvania Blocked Again in Bid to Take Insurer’s Cash

A federal judge is blocking a third attempt in as many years by Governor Tom Wolf and state lawmakers to take at least $200 million in surplus cash from a state-chartered medical malpractice insurer of last resort. U.S. District Judge …

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There Is ‘Real Risk of Brexit No-Deal by Accident,’ Warns UK Foreign Secretary

British Foreign Secretary Jeremy Hunt said the U.K. will not “blink” in Brexit negotiations, as he warned the European Union it risks forcing the country to crash out of the bloc with no deal. On his first trip to Berlin …

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SoftBank Plans Digital Payments Service in Japan, Eyeing Entry into Insurance, Banking

SoftBank Group Corp. plans to announce within days that it will start a mobile digital payments service in Japan by the end of 2018 as billionaire founder Masayoshi Son seeks to expand in the sector, people familiar with the matter …

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Tokyo Prosecutors Have Indicted Kobe Steel Over Data Falsification Scandal

Tokyo prosecutors indicted Kobe Steel Ltd. over the faked data crisis that rocked Japan’s manufacturing industry last year. The company was indicted on suspicion of breaching Japan’s unfair competition law in connection with falsified inspection reports for the year through …

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Sweden Battles 50 Wildfires with Help of Firefighters Across Europe

As wildfires raging through Sweden exhaust local emergency services, Europe is sending hundreds of people to help contain multiple blazes across the country. France, Germany and Denmark have dispatched more than 100 firefighters while Poland is sending 139 people to …

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Bayer to Discontinue Sales of Essure Birth Control Device as U.S. Lawsuits Mount

The maker of a permanent contraceptive implant subject to thousands of injury reports and repeated safety restrictions by regulators said Friday that it will stop selling the device in the U.S., the only country where it remains available. Bayer said …

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UK Insurance Entrepreneur Banks Denies New Allegation of Links with Russia

British businessman Arron Banks has denied an allegation made by a former business partner that he approached Russians about investing in his diamond mines, and that the money raised went instead to his campaign to leave the European Union. Banks, …

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Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that …

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Texas Stamping Office: E&S Insurance Premium Up 9.4% at Mid-Year

Excess and surplus lines (E&S) insurance premium recorded by the 15 managing service offices in the United States increased 9.4 percent as of the 2018 mid-year point, the Surplus Lines Stamping Office of Texas (SLTX) reports. Total premium reported reached …

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Protective Insurance, AmWINS to Offer For-Hire Commercial Trucking Product

Protective Insurance Co., a property-casualty insurer specializing in trucking and workers’ compensation, has partnered with AmWINS Transportation Underwriters (ATU) to offer a program to support for-hire commercial trucking fleets with up to 24 trucks beginning in the fourth quarter of …

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Court Allows Trial in Children’s Lawsuit Against U.S. Over Climate Change

A federal appeals court in San Francisco on Friday rejected the Trump administration’s renewed bid to dismiss a lawsuit by young activists who say the U.S. government is ignoring the perils of climate change. By a 3-0 vote, the 9th …

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Warren G. Bender Co. in California Names Wood Personal Lines Manager

Warren G. Bender Co. in Northern California has named Jeffrey Wood manager of its personal lines department. He has 21 years of experience in personal insurance. He was previously an agent with Albano, Dale, Dunn & Lewis Insurance Services Inc. …

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Fire at North Carolina Apartment Complex Injures 4, Damages 16 Units

At least four people have been hurt after a fire started at an apartment complex in North Carolina’s largest city. The Charlotte Fire Department said firefighters were called around 4:30 a.m. Friday and had to call more firefighters to help …

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Mississippi Insurance Producer Surrenders License After Cease & Desist Order

A Mississippi insurance producer has surrendered his licensed after being served a cease and desist order by the Mississippi Insurance Department. According to a statement from MID, James Michael Brand surrendered his insurance producer’s license on June 22. The license …

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Appalachian Underwriters Adds Stavrakos to Brokerage Division in Florida

Appalachian Underwriters, Inc. has added Peter Stavrakos to its brokerage office in Sarasota, Fla. He will be joining the Professional Liability team where he will focus on the coverage needs of both smaller and larger professional and management liability accounts. …

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Study Examines California Worker’s Comp Prescription Drug Outcomes Under New Formulary

A new analysis offers a preliminary look at Utilization Review and Independent Medical Review outcomes involving pharmaceutical requests for California injured workers since the state implemented a workers’ compensation formulary in January. The analysis from the California Workers’ Compensation Institute …

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UK Security Officials Flag Possible Cyber Vulnerabilities from Huawei Products: Sources

Senior British security officials say they can give only limited assurances that Chinese firm Huawei’s UK operations pose no threat to national security, downgrading their previous position, two people with knowledge of the matter told Reuters. The assessment, in a …

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Blaze at Chicago-Area Condo Complex Displaces Hundreds

Fire has left homeless hundreds of residents of a suburban Chicago condominium complex. About 150 firefighters from 50 departments near Prospect Heights battled the fire, which Prospect Heights Fire Chief Drew Smith said began about 1:30 p.m. Wednesday and continued …

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Baker Appointed Assistant VP at RHSB in Texas

Texas-based independent insurance brokerage firm, RHSB, has added Mike Baker as assistant vice president. He will be a part of the growing Commercial Property & Casualty sales practice. Baker has over a decade of experience assisting commercial clients with their …

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Explosion, Fire at Oklahoma Disposal Well Injures 3

Central Oklahoma authorities say three people have been injured in an explosion and fire at a saltwater disposal well. Kingfisher County emergency management officials say the explosion occurred shortly after 3 p.m. Wednesday at a saltwater disposal well south of …

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Ohio Chemical Plant Explodes, Catches Fire, Prompts Evacuations

An Ohio chemical manufacturing plant has exploded and caught fire, prompting authorities to evacuate a large area around it. Emerald Performance Materials says it evacuated the plant in Akron and notified the fire department after the Wednesday afternoon explosion. It …

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Arkansas Approves Rules with Opioid Prescription Limits

An Arkansas panel has given final approval to regulations that will require doctors who prescribe high doses of opioid pain medication to follow guidelines meant to limit potential abuse, including exploring alternative treatments and limiting prescriptions. The Legislative Council’s Administrative …

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Alaska Cannabis Festival Under Investigation for Allowing Pot Consumption

Organizers of an Alaska cannabis festival who allowed adult participants to consume pot in public are facing an investigation and possible fine. The director of the Alaska Alcohol and Marijuana Control Office will recommend a penalty for Alaska Hempfest, a …

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$10M Award to Man Hit By Garbage Truck Reinstated by Oregon Court

The Oregon Court of Appeals has ruled that a trial judge shouldn’t have reduced a jury’s award to a man whose leg was severed by a garbage truck in downtown Portland. In reinstating the award, the Appeals Court said the …

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Montana Jury Awards $300K in Youth Center Sex Abuse Case

A Montana jury has awarded $300,000 to a mother who claimed a Billings youth treatment center failed to protect her son from being sexually abused by other residents. The Billings Gazette reports the jury awarded the damages Wednesday on claims …

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Lyft Will Beef Up Background Checks Following California Driver Arrest

Ridesharing company Lyft said Wednesday that it’s beefing up its background checks after a driver arrested for rape was found to be in the United States illegally. The company’s “enhanced detection processes” will apply to new applicants and existing drivers, …

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Insurance Salesman Sentenced for Stealing Man’s Inheritance in New Jersey

An insurance salesman convicted of stealing a client’s inheritance is now headed to prison. Federal prosecutors say Patrick McCullagh received a three-year sentence Wednesday. The 70-year-old Georgetown, Kentucky, man must also pay $98,067 in restitution. Prosecutors say McCullagh defrauded the …

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12 Sickened By Carbon Monoxide at Maryland Work Site

Officials in Maryland say 12 construction workers were taken to a hospital after they were sickened by carbon monoxide at a work site. Anne Arundel County Fire Department officials say firefighters were called to the Navy Federal Credit Union in …

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Core Assurance Partners Acquires Virginia’s E.L. Creech & Co.

Core Assurance Partners, a financial services company headquartered in Hampton Roads, Va., has acquired E. L. Creech & Co. Inc., a fourth-generation, family-owned property and casualty firm based in Virginia Beach, Va., where it will maintain its offices. Terms of …

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New York’s Global Warming Suit Against Oil Companies Tossed

A U.S. judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. U.S. District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp., Chevron Corp., …

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Thieves Steal $10 Million of Cobalt from Vollers Group Rotterdam Warehouse

It’s not just hedge funds that have noticed the cobalt boom — thieves have too. About 112 metric tons of cobalt was stolen from a warehouse in Rotterdam run by Vollers Group Gmbh earlier this month, according to a statement …

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U.S. Energy Regulator Pushes for Disclosure of Cyber Attacks on Electric Grid

The U.S. government on Thursday asked power generators to disclose more information about cyber attacks amid growing concern that foreign hackers could disrupt the electric grid. The Federal Energy Regulatory Commission (FERC), an energy industry regulator, called for the power …

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Climate Change Is Beginning to Shift Planet’s Seasons: Scientists

Pouring through four decades of satellite data, climate scientists have concluded for the first time that humans are pushing seasonal temperatures out of balance—shifting what one researcher called the very “march of the seasons themselves.” Ever-mindful of calculable uncertainty and …

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Markel Licensed to Form Insurer in Germany, Securing Post-Brexit EU Access

Markel Corp. announced it has been granted a license by the German federal financial supervisory authority, BaFin, to establish an insurance company in Germany. Following Brexit, the United Kingdom’s exit from the European Union, Markel Insurance SE (MISE) will be …

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Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass

Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance industry. ChainThat made a similar move …

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AXIS Insurance Promotes Randell to Head of Canada Insurance & Chief Agent, Canada

AXIS Insurance, a business segment of AXIS Capital Holdings Ltd., announced the promotion of Brad Randell to head of Canada Insurance, and chief agent, Canada, subject to review and/or approval of various Canadian regulatory entities. Randell will oversee AXIS’ insurance …

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Drug Firms Sue Illegal Web Sites for Opioid Crisis

Two pharmaceutical companies say the real culprits in the opioids epidemic are illegal dealers of the painkillers and want them to be on the hook financially for any damages potentially assessed against drugmakers. Endo International Plc and Mallinckrodt Plc sued …

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Wells Fargo Begins Refunds of Add-On Product Fees

Wells Fargo & Co. is issuing refunds for monthly fees it charged on so-called add-on products that customers may not have fully understood. “We are reviewing add-on products sold to consumers by the bank or its service providers and if …

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Cybersecurity Tops D&O Liability Risks

Cybersecurity is the top directors and officers (D&O) liability concern for organizations today, while claims brought by employees, including claims for harassment or discrimination, and regulatory enforcement risks are also critical D&O exposures. According to Willis Towers Watson’s 2018 Management …

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Safety Agency Finds 10% of Veteran Coal Miners Have Black Lung Disease

More than 10 percent of America’s coal miners with 25 or more years of experience have black lung disease, the highest rate recorded in roughly two decades, according to a government study released on Thursday that showed cases concentrated heavily …

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Bond Insurer Urges Receiver for Puerto Rico’s Bankrupt Utility

MBIA Inc.’s National Public Finance Guarantee is urging Puerto Rico’s federal board to consider putting a receiver in charge of the island’s bankrupt power utility after the electricity provider lost two chief executive officers last week amid an uproar over …

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7th Lawsuit Against Opioid Makers Filed by Kentucky AG

The company’s website claimed its product would “enable patients to stay in the workplace, enjoy interaction with family and friends and remain a member of society.” But Kentucky’s Attorney General is more interested in what the company did not say: …

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North Carolina Scrap Metal Yard Fire Leads to Neighbor Evacuations, Power Outages

A fire caused heavy damage at a North Carolina scrap metal yard, forced evacuations from a nearby neighborhood and cut electricity to around 1,400 customers. Officials in Salisbury said in a statement the fire erupted Wednesday at Holmes Iron and …

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Brooks Insurance Appoints Sammons to Lead Florida/Southeast Market Expansion

Brooks Insurance Agency, a multi-line wholesaler and broker, has hired Robert Sammons as vice president and broker. In his new role, Sammons will be responsible for wholesale brokering and servicing small- and medium- sized retail agencies and brokers with a …

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Michigan Court Backs Insurer Denying $300K Payout in Head-On Crash

An insurance company refused to pay $300,000 in a head-on crash that killed a Michigan man and his mother after a doctor came up with a key conclusion: Robert Krugman likely drifted out of his lane because of a heart …

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Brown & Brown Subsidiary Acquires Texas MGA and Arkansas Affiliate

Texas Security General Insurance Agency LLC, a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Loving and Etheredge Inc. d/b/a Texas Commercial Insurance Facilities (TCIF) and its affiliate, Arkansas Insurance Facilities Inc. (AIF). TCIF …

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Missouri Employers Mutual’s Walleck Named to NCCI Underwriting Committee

Roger Walleck, vice president of Underwriting at Missouri Employers Mutual, has been elected to serve on the national underwriting committee for the workers’ compensation rate making organization, National Council on Compensation Insurance (NCCI). Members are selected based on their underwriting …

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Texas Insurers’ Trade Group Honors Gerik with Raymond Mauk Award

The Insurance Council of Texas (ICT) has honored Mike Gerik, executive vice president at the Texas Farm Bureau Mutual Insurance Co., with the 2018 Raymond Mauk Leadership Award. ICT presented the Mauk Leadership Award to Gerik during its 26th Annual …

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Arkansas Recovers $3.67M for Insurance Consumers in First Half of 2018

The Consumer Services Division (CSD) at the Arkansas Insurance Department has recovered $3,673,940 for Arkansas insurance customers in the first half of 2018, the agency reported. Recoveries are dollar amounts recovered for Arkansas consumers by CSD in excess of the …

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North Dakota Looking at New RV Safety Standards After Deadly Tornado

A deadly tornado that recently struck a western North Dakota city has prompted state and local officials to call for increased safety standards for RV parks that often house oilfield workers and families. McKenzie County leaders expect to meet with …

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Explosions, Fire at Texas Gas, Cylinder Company Spur Evacuations but No Injuries

Authorities say nobody has been hurt in several explosions and a fire at a gas and cylinders company in rural Central Texas. Austin County Sheriff Jack Brandes said the accident at Western International Gas & Cylinders was reported around 6 …

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Fire Damages Giant ‘Gold Pyramid’ Tourist Attraction in Northern Illinois

Authorities say fire severely damaged a giant pyramid home that doubles as a tourist attraction in northern Illinois. Gurnee Fire Department firefighters responded to a report that an elderly man in a wheelchair and his dog were trapped by the …

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Iowa’s Holmes Murphy Welcomes 14 New Employee Shareholders

Iowa-based insurance services firm, Holmes Murphy, recently added 14 new employee shareholders. Holmes Murphy shareholders help lead the company in its mission to promote health, protect wealth, and deliver peace of mind. Team members joining the existing group of shareholders …

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Risk Services’ Eppers Elected to Louisiana Agents & Brokers Group Board

Rob Eppers, chief operating officer for Risk Services of Louisiana, was recently sworn in as an elected board member of the Independent Insurance Agency & Brokers of Louisiana (IIABL). As a board member, Eppers will be involved with insurance legislation, …

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Indiana’s Butler University to Launch Online Master’s in Risk, Insurance

The Lacy School of Business at Indiana’s Butler University plans to launch an online Master of Science in Risk and Insurance (MSRI) program beginning in January 2019. The school says the program is among the first of its kind in …

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California Suspect in Serial Rapes Was a Lyft Driver

Ridesharing company Lyft said this week that it’s investigating how a former driver now charged in a series of rapes passed a background check even though federal immigration officials say the suspect was living in the country illegally. The San …

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Honolulu Mayor Tells City to Prepare for Climate Change

Honolulu Mayor Kirk Caldwell has directed city departments and agencies to prepare for the effects of climate change and sea level rise. The Honolulu Star-Advertiser reported the mayor issued the mandate this week, requiring the departments and agencies under his …

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Massachusetts Storms Bring Floods, Lightning Strikes, Flight Cancellations

Thunderstorms have caused flights to be delayed and knocked out power in some parts of Massachusetts. A flood warning was issued by the National Weather Service for the areas of Springfield, Clinton, Boston and Northborough July 18, and a flash …

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Agency Network Exchange Hires Foley in New Jersey

Agency Network Exchange LLC (ANE) has added Linda Foley as director of field operations based in New Jersey. In this role, she will work with member agencies to develop and implement growth plans and maintain agency relationships. She will also …

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New Jersey’s APIC Appoints Hicks as Company Controller

American Property Insurance Company (APIC), a licensed and admitted commercial insurance carrier headquartered in Eatontown, N.J., has appointed Steven T. Hicks as company controller. Reporting to the chief financial officer, Hicks will supervise internal management information reporting as well as …

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Cook Maran & Associates Acquires New York’s Joseph P. Price Agency

Cook Maran & Associates, a New York and New Jersey insurance broker and the New York metropolitan area platform for Prime Risk Partners (PRP), has acquired Joseph P. Price Agency (Price). Price is a Long Island, N.Y.-based insurance agency that …

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Travelers Profit Dips in Q2 Due to Hail, Harvey

Travelers Companies reported that catastrophe losses from wind and hail storms in several regions of the United States cut into its second quarter profit. Net income for the quarter was $524 million compared to $595 million for the same quarter …

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Willis Towers Watson Board Extends Contract of CEO Haley to 2012

Willis Towers Watson, the global advisory, broking and solutions company, announced that its board of directors has extended the contract of its chief executive officer, John Haley, until Jan. 1, 2021. “We are pleased to retain John Haley’s leadership as …

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Oasis Loss Modelling Framework Offered Open Source, Free of Charge

Not-for-profit catastrophe modeling platform Oasis Loss Modelling Framework announced that all components of its catastrophe modeling software are now open source and downloadable from GitHub, free of charge. This step means that Oasis is making sophisticated catastrophe modelling more accessible …

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UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator

Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday. “With eight months until we exit the European Union in March 2019, …

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China’s Anbang to Sell Overseas Properties Worth $10B in Ongoing Rescue: Sources

China’s Anbang Insurance Group Co. Ltd. is looking to offload overseas properties worth about $10 billion to shore up its balance sheet as part of a government-backed rescue, three people with knowledge of the matter said. The sales are likely …

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Generali Plans to Sell Wealth Management, Services Units for $476M

Assicurazioni Generali SpA agreed to sell wealth-management and service units in Ireland and Guernsey for 409 million euros ($476 million), pushing the Italian insurer above its target for international disposals. The Generali Worldwide and Generali Link businesses will be purchased …

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Philadelphia Launches Pool, Spa Contractors Program

Philadelphia Insurance Companies’ (PHLY) has launched a new Pool and Spa Contractors Program in response to increased demand for pool construction. The PHLY comprehensive package product includes coverage for pool and spa contractors with a single carrier approach. Coverages offered …

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Neighbors of North Carolina Chemical Plant to be Tested for GenX Compounds

North Carolina and federal health officials want to test whether neighbors of a chemical company are carrying little-understood industrial compounds in their bodies. North Carolina’s Department of Health and Human Services said Tuesday it is working with the U.S. Centers …

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Lawmakers Eye Holding Social Media Firms Liable for User Posts

Top Republican lawmakers on Tuesday attacked one of the legal protections most prized by social media companies such as Alphabet Inc.’s Google and Facebook Inc., questioning whether they should be held liable for content posted by users. House Judiciary Chairman …

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MGM Facing Boycott for Suing Las Vegas Shooting Victims

It took just minutes for the hashtag #BoycottMGMResorts to appear on Twitter, and for people to declare they would no longer patronize the largest casino owner on the Las Vegas Strip. “Was going to stay in November already changed my …

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Safety Agency Faulted for Delayed Action on Auto, Airbag Recalls

A government audit released on Wednesday faulted the National Highway Traffic Safety Administration’s oversight of auto safety recalls and said its “delayed action” may have delayed the expansion of a record-setting callback of millions of vehicles for Takata air bag …

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Auto Insurers Warn Tariffs on Auto Parts Could Raise Insurance Costs

A threat by the U.S. government to impose tariffs of up to 25 percent on imported auto parts could hit consumers in unexpected ways: higher repair costs, insurance premiums and even the theft of more cars for their parts, the …

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Florida Agencies Clegg Insurance Group, Advanced Insurance Brokerage Merge

Clegg Insurance Group and Advanced Insurance Brokerage (AIB), both in the Tampa, Fla., area – signed off on a new deal last month that will merge the companies’ property and casualty coverage portfolios. Together, the two companies will offer new …

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How the Florida Insurance Industry Hopes to Rein In AOB Crisis

“I think the number one thing the insurance industry can do is link AOB (assignment of benefits) to the impact that it’s having on the individual consumer and the huge impact it’s having on the premiums that the consumer’s paying,” …

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AIG Completes $5.5 Billion Acquisition of Validus

American International Group Inc. said it has completed its acquisition of Bermuda reinsurer and specialist insurer Validus Holdings. The $5.56 billion all-cash transaction was first announced in January, about eight months after Brian Duperreault took over at AIG as president …

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WSS California Operation Adds Bertram, McLeod

WSS, part of XPT, a new specialty insurance distribution company, has named Lynn Bertram senior broker/underwriter in the commercial lines department, while Stefanie McLeod will serve as vice president and senior production underwriter in the personal lines department. Bertram previously …

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Paragon Opens New Office in California, Adds Etzler as Director of Workers’ Comp

Paragon Insurance Holdings LLC is expanding in San Diego, Calif. with the opening of a new office in downtown and the hiring of Robert Etzler. He will serve as senior vice president and director of workers’ compensation. Prior to joining …

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Worker Killed at North Carolina Campbell’s Soup Plant

Oan has died and another was hurt when a trash container fell off a forklift at a soup plant in North Carolina. The Robeson County Sheriff’s Office told news outlets that 59-year-old Alex Radford of Laurinburg died late Sunday morning …

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EPIC Insurance Brokers Adds Close to Energy Construction Practice in Alabama

EPIC Insurance Brokers and Consultants has tapped Josh Close as client services coordinator in the firm’s Birmingham, Ala.-based national energy construction practice, reporting to EPIC Principal Brian Tanner. Close will be involved in all aspects of client support, account rounding …

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Fire Sparked by Air Conditioning Unit at Tennessee Assisted Living Facility Injures 1

A fire official says a blaze at a Tennessee assisted living facility injured one person and led to dozens of others being evacuated from the building. Officials told news outlets that an air conditioning unit caught fire Monday night in …

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Alabama Farmer Pleads Guilty in $919K Crop Insurance Scam

Authorities say an Alabama farmer has acknowledged falsifying documents that allowed him to receive $919,000 in crop insurance money he wasn’t entitled to. The Dothan Eagle reported last month that Dexter Day Gilbert pleaded guilty recently to submitting false applications …

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Police Close to Decision on Charges in Fatal Wisconsin Blast

Police say they’ll soon decide whether to recommend prosecutors file charges in connection with a natural gas explosion that killed a Wisconsin firefighter. Authorities say a construction crew struck a gas main in downtown Sun Prairie on July 10, resulting …

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Oklahoma Attorney General Assembles Team of Lawyers over Marijuana Rules

Oklahoma’s attorney general says he’s assigning a team of lawyers to advise him on matters surrounding the Board of Health’s decision to insert last-minute restrictions on the state’s new medical marijuana industry. Attorney General Mike Hunter announced his intentions in …

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Monsoon Brings 100-Year Flooding Event to Arizona

The National Weather Service says the storm that swept across northern Arizona over the weekend amounted to a 100-year event. The Arizona Daily Sun reported that those types of storms have a 1 percent chance of happening every year and …

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State Farm Not Liable for Wisconsin Hunter’s Injuries

An insurance company isn’t liable for a hunter who was accidentally shot in the head nearly four years ago. According to court documents, David Devine shot Patrick Humfeld in the head while both men were hunting on John Marsh’s property …

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Uber Said to be Facing Probe into Alleged Gender Discrimination

Uber is facing a U.S. government investigation into allegations that the ride-hailing service set up a pay structure that discriminated against its female workers. The U.S. Equal Employment Opportunity Commission opened the probe in August 2017, according to a person …

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SCM Acquires Affirmative Risk Management in Arkansas

SCM Insurance Services has acquired Affirmative Risk Management in Little Rock, Arkansas. ARM will continue to be led by David Elliott, its president. Elliott will report to Scott Goodreau, chief operating officer of USA SCM Insurance Services. ARM provides adjusting …

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Fired Worker in Massachusetts Argues Pot Use Didn’t Violate Company Policy

A Massachusetts woman who was fired by a food services company for her recreational marijuana use says she was wrongfully terminated. The Eagle-Tribune reports that 55-year-old Bernadette Coughlin was fired last month from her job as a supervisor with Sodexo …

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First Driverless Shuttle Demonstration Held in NYC by COAST Autonomous

New York City’s first driverless shuttle has arrived. In Times Square, a self-driving P-1 shuttle from COAST Autonomous was demonstrated Tuesday along an approximately 150-yard course. “It’s historic,” said Pierre Lefevre, inventor of the first low speed autonomous shuttle and …

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Massachusetts’ Arbella Insurance Appoints O’Donoghue as VP of Sales, Marketing

The Arbella Insurance Group has appointed Andrew O’Donoghue to the position of assistant vice president of sales and marketing. In this role, O’Donoghue will report to Steve Jacobs, vice president of sales and marketing, and will continue to work closely …

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Risk Strategies Acquires Maryland’s Oxford Risk Management Group

Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired Oxford Risk Management Group, a Sparks, Md.-based provider of alternative risk and captive insurance and consulting. Terms of the deal were not disclosed. Established …

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ISO Grows Fire Hydrant Database by 700K

ISO said it has enhanced its Public Protection Classification (PPC) program with the inclusion of location data for an additional 700,000 U.S. fire hydrants, increasing the number of hydrants in the database to 9 million. Hydrant data is part of …

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Doctors Sue Anthem Over Denial of Emergency Room Charges

The health insurer Anthem Inc. was sued by doctors in Georgia for declining to pay for some emergency-room care, escalating a long-running battle over how far insurance plans can go to push patients to seek lower-cost treatment. The American College …

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MGAs Increasingly Work with Insurtech Firms to Bolster Customer Centricity: Survey

Managing general agents (MGAs) are increasingly interested in working with insurtech firms to enable their businesses to become more customer-centric, according to a new survey of UK MGAs. More than 42 percent of survey respondents feel insurtech helps MGAs evolve …

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Lindeboom Retires as Co-Managing Director of THB Europe, Succeeded by Borges

THB, the London-based specialist insurance and reinsurance broker, announced new leadership at THB European Division, based in Amsterdam. Paul Lindeboom, co-managing director of the division, will retire as planned from his post on July 31. Ricardo Borges, director at THB, …

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Some Recreational Cannabis Products to Remain Banned Under New Canada Law

A key segment of Canada’s marijuana industry will remain banned for up to a year after the drug becomes legal for recreational use — making it harder for Justin Trudeau to kill off the black market. Edibles, beverages, and pot …

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Reinsurers, Insurtech Startups Increasingly Seek Mutually Beneficial Partnerships

Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments have? There are a number of reasons reinsurers are getting involved …

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MGM Files Suit to Limit Liability for Las Vegas Shooting

MGM Resorts International sued the victims of a Las Vegas music festival mass shooting in an effort to block any potential compensation claims against it. The owner of the Mandalay Bay hotel claims a 2002 federal statute wipes out liability …

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U.S. Labor Judge Nixes McDonald’s Deal to Avoid Joint Employer Tag

A judge with a U.S. labor agency on Tuesday rejected McDonald’s Corp.’s proposed settlement of a major case on whether the fast-food company is accountable for alleged labor law violations by franchisees across the country. The settlement proposed in March …

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Ford to Pay Consumers $299 Million to Settle Takata Airbag Lawsuit

Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls. The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners …

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Washington Asbestos Removal Company Fined $229K for Unsafe Conditions

An Edmonds, Wash.-based asbestos removal contractor has been cited by the Washington Department of Labor & Industries for multiple willful safety violations for improper handling of asbestos. Along with the citations, the company faces fines totaling $229,700. L&I has cited …

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Mueller Industries Settles Disability Discrimination Suit in California for $1M

The U.S. Equal Employment Opportunity Commission has settled a disability discrimination lawsuit in California against a global metal goods manufacturer Mueller Industries Inc. for $1 million and other injunctive relief. According to the EEOC, Memphis, Tenn.-based Mueller violated federal law …

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Oklahoma City Spending to Improve Traffic Issues, Prepping for Self-Driving Cars

A city in central Oklahoma is spending millions of dollars preparing for self-driving cars while working to alleviate traffic problems. Edmond Traffic Engineer Tom Minnick told The Oklahoman that the city is laying down infrastructure for autonomous vehicles. The $5 …

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Loss Estimate for Europe’s Storm Friederike (aka DAVID) Rises to €1.7B ($2.0B): PERILS

The third insured loss estimate for extratropical Cyclone Friederike, also known as “David,” has risen to is €1.7B ($2.0 billion), according to PERILS, the independent Zurich-based organisation that provides industry-wide catastrophe insurance data. PERILS’ third estimate of the insured property …

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QBE, AmWINS Launch E&O Coverage for Architects, Engineers, Design Businesses

QBE North America has formed a partnership with AmWINS Program Underwriters (APU) to offer errors and omissions coverage for architects, engineers and design (A&E) businesses. The launch is part of QBE’s initiative to expand its specialized portfolio. APU’s A&E program …

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Court Finds Travelers Crime Insurance Policy Covers Money Transfer Loss Due to Email Spoofing

For the second time in about a week, a federal appeal court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. …

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Baylor in Texas Settles Suit with Woman Who Accused Players of Rape

Baylor University has settled a federal Title IX lawsuit brought by a former volleyball player who alleged that she was drugged and gang raped by at least four football players in 2012. Terms of last week’s settlement with the woman, …

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Feds Investigating Crane Vs. Power Line Worker Death at Ohio Home

The federal worker safety agency is investigating the death of a man in southwest Ohio who was electrocuted when a crane touched a power line at a home under construction. WLWT-TV reports the accident occurred last week in Butler County’s …

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Passenger Bus Crash in New Mexico Kills 3, Injures 24

A crash involving a commercial passenger bus and three other vehicles on a New Mexico highway early Sunday killed three people and injured 24 others, some critically, authorities said. One of the people killed was in a car that struck …

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The Dentists Insurance Co. in California Names Spinelli CEO

The boards of directors for the Sacramento, Calif.-based Dentists Insurance Co., Northwest Dentists Insurance Co. and Dentists Benefits Insurance Co. have named Bob Spinelli president and CEO. In addition to leading all operations at TDIC, DBIC and NORDIC, Spinelli will …

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RMS Strengthens Asia-Pacific Capabilities in Version 18 of Modeling Software

RMS, the Newark, Calif.-based risk modeling and analytics firm, announced it has strengthened the Asia Pacific capabilities of its Version 18 catastrophe risk management software. The Asia Pacific model suit is being expanded to include new peril models for India …

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The Business Council of New York State Touts Workers’ Comp Savings in N.Y.

The Business Council of New York State Inc. has touted the newly approved 11.7 percent reduction in loss cost rates, which are the basis for setting workers’ compensation premiums for 2019, as being significant toward workers’ compensation savings for most …

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Chubb Hires Everest’s Watt to Lead North America Claims

Chubb has appointed Megan Watt, as executive vice president, head of North America Claims. In this role, she will lead all aspects of Chubb North America claims management, service and administration for the commercial and personal insurance businesses. Watt has …

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KBW Hires Sarkar to Its Insurance Investment Banking Group in New York

Keefe, Bruyette & Woods Inc. (KBW), a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and a wholly owned subsidiary of Stifel Financial Corp., has hired Rajib Sarkar as managing director in its Insurance Investment …

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Supreme Court Nominee Kavanaugh Seen as Business Friend, Regulation Skeptic

Brett Kavanaugh could add a powerful new voice on the Supreme Court to restrain what government agencies can do, ushering in a new era of tougher scrutiny of federal regulations loathed by businesses. In a dozen years on the U.S. …

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Connecticut’s CMIC Hires Cronin as Director of Underwriting

CMIC, a Glastonbury, Conn.-based, member-owned medical professional liability insurance company, has hired Garrett P. Cronin to the CMIC Group team as the director of underwriting. Prior to joining CMIC, Cronin worked for Chubb Corporation as a national underwriting manager within …

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Travelers: Use Current Auto Insurance Model for Autonomous Future

Auto insurance should continue to be the primary compensation model for accident victims as the driving population transitions to and then fully adopts autonomous vehicles, according to the insurer that issued the nation’s first auto liability policy in 1897. “This …

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Munich Re CFO Schneider to Retire, Succeeded by ERGO’s Jurecka

Munich Re’s Chief Financial Officer Jörg Schneider, who turns 60 this year, will retire from the Munich Re board of management at his own request on Dec. 31, 2018. The Supervisory Board of Munich Re has appointed Christoph Jurecka as …

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Industry Needs to ‘Question and Call Out’ Rogue MGAs, Says Chilton of Gallagher

While there’s a bright future for managing general agents that “get it right,” Grahame Chilton, CEO of Gallagher UK, warns against tolerating the few rogue MGAs who could ruin the reputation of the entire sector. (Chilton will be stepping down …

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Health Officials Investigating Tennessee Zipline Sickness Outbreak

The Tennessee Department of Health says its investigation continues into gastrointestinal illness that affected more than 500 people who visited a zipline attraction. Officials have said E. coli bacteria caused the sickness, but the Health Department said Thursday that some …

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