Trial in RICO Case Against State Farm Set for Trial in Illinois Federal Court

A class action lawsuit against insurance giant, State Farm, alleging the company recruited a judge to run for an opening on the Illinois Supreme Court and funded, without disclosing, his the election campaign is set to go to trial in …

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Lawsuit Planned Against Brad Pitt Foundation over New Orleans Homes

An attorney plans to sue actor Brad Pitt’s foundation over the degradation of homes built in an area of New Orleans that was among the hardest hit by Hurricane Katrina. The forthcoming lawsuit against Pitt’s Make It Right foundation will …

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Prosecutors: Possible Negligence in Missouri Duck Boat Sinking

The U.S. Coast Guard has found probable cause that the sinking of a tourist boat on a Missouri lake last month that killed 17 people “resulted from the misconduct, negligence, or inattention to the duties” by the captain of the …

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6 Small Businesses Share Disaster Recovery Stories

As small business owners in Hawaii and California clean up following Hurricane Lane and wildfires, they’ll find there’s no one formula for recovery. The same disaster can devastate businesses in divergent ways – a hurricane might tear the roof off …

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Bill to Expand Harassment Training Requirements Passes California Assembly

The California Assembly on Thursday voted unanimously on a plan to address workplace sexual harassment and expand a requirement for harassment training to small businesses. Current law requires all employers with 50 or more employees to provide two hours of …

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Markel to Acquire Insurance-Linked Securities Manager Nephila

Specialty insurer Markel Corp. has agreed to acquire all of the outstanding shares of Nephila Holdings, a standalone insurance-linked securities manager. Nephila, has more than $12 billion of assets under management for over 300 investors. Its revenue is primarily from …

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Woodruff Sawyer in California Names Scales Vice President

San Francisco, Calif.-based Woodruff Sawyer has named Jen Scales vice president and account executive in its employee benefits practice. Scales has more than 15 years of experience in the insurance industry, having spent time in business development and risk consulting …

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Solar Projects in Oregon Getting Insurance to Guarantee Production

GCL New Energy Holdings Ltd. is managing the risk related to the unpredictable nature of the sun, with an insurance-like policy that will guarantee the production from solar projects it’s building in Oregon. KWh Analytics, a San Francisco-based risk-management software …

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A.M. Best Upgrades Ratings of PURE Group

A.M. Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” for both members of the PURE Group of Insurance Companies (PURE). The members, both domiciled …

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Delaware Teen Charged in Store Fire That Caused $3M in Damage

A Delaware teen is accused of starting a fire at a Family Dollar store that caused an estimated $3 million in damages. Harry Miller with the State Fire Marshal’s Office tells news outlets that the 16-year-old boy was charged Wednesday …

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Indictment Says Maryland Restaurateur Plotted to Burn Restaurant, Frame Wife

Federal prosecutors say a Maryland restaurant owner was under pressure, facing an impending divorce and financial ruin. His solution, they say, was to burn down his restaurant for insurance money, and implicate his soon-to-be ex-wife as a terrorist. The Capital …

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SIAA Promotes Tombarelli and Holmes, Expands Their Roles

National independent agency alliance SIAA (Strategic Insurance Agency Alliance) has promoted two executives, Steve Tombarelli and Jeff Holmes, and expanded their roles. Tombarelli is now senior vice president, Business Expansion & Innovation. He will retain overall responsibility for the commercial …

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Shareholder Suit Alleges Pizza Chain Papa John’s Hid Executives’ Misbehavior

Papa John’s International Inc. founder John Schnatter will be questioned by the pizza chain’s lawyers about his demand for internal files related to directors’ handling of his ouster from the company. Schnatter sued last month in Delaware Chancery Court for …

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State Farm Mutual Automobile Insurance Company Announces New York Rate Cut

State Farm Mutual Automobile Insurance Company has announced it will cut its rates in New York. As a result, its overall personal auto rate will drop by 3.4%. The total state-wide expected impact for State Farm Mutual by this rate …

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Foremost Auto Insurance Business Being Rebranded to Bristol West

Foremost Insurance Group, a member of the Farmers Insurance Group, said the Foremost automobile insurance book of business will be rebranded as Bristol West. The company said this rebranding will be phased in over the next several months and completed …

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Lloyd’s Commercial Officer Vandendael to Exit Lloyd’s to Take Executive Role at Everest

Lloyd’s announced that its chief commercial officer, Vincent Vandendael, has decided to leave the corporation after almost six years. He will be moving to Everest Insurance as CEO of International Insurance in early 2019. A Lloyd’s representative explained that the …

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Zurich Insurance Begins Competition to Find Cutting-Edge InsurTech Startups

Zurich Insurance Group believes a competition will help it find cutting-edge startups and entrepreneurs with whom to collaborate in the insurtech space. The Swiss insurer launched what it is calling the Zurich Innovation World Championship, billing it as a global …

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Canopius Signs Partnership with Credit and Political Risk MGA, Anvil Underwriting

Canopius announced it has signed a partnership with Anvil Underwriting Ltd., a credit and political risk managing general agent (MGA). The agreement is effective from Sept. 3 and will allow Anvil to underwrite credit insurance, contract frustration and political risks …

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ILS Issuance in H1 Tops $7B, Reflecting Capital Markets’ Re/Insurance Appetite: Swiss Re

The first half of 2018 aptly demonstrated that the insurance-linked securities (ILS) market has an undiminished appetite to provide re/insurance protection – despite last year’s expensive insured natural catastrophe losses, according to Swiss Re Institute’s sigma publication While not quite …

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Elkann Steps Down as Chairman of PartnerRe, Succeeded by Dowd

PartnerRe Ltd. announced that Brian Dowd will succeed John Elkann as chairman of the company’s board of directors, effective Sept. 1. Elkann, who is chairman and CEO of PartnerRe’s parent company, EXOR, will remain on the board. Before he retired …

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Allianz Names Schlatmann from Russia’s Sberbank as CEO of European Direct Business

Allianz announced that it has named Bart Schlatmann as CEO of its European direct business, effective Sept. 1. Schlatmann joins Allianz from Russia’s Sberbank, where he served as chief transformation officer, responsible for the digital overhaul of client services. Before …

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Justice Department Supports Case Alleging Harvard Bias in Admissions

The U.S. Justice Department on Thursday threw its support behind a lawsuit accusing Harvard University of discriminating against Asian-American applicants, saying the Ivy League school’s race-based admissions process disadvantaged them. The department, which has been investigating Harvard for potential civil …

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Calm August No Guarantee of Hurricane-Free September

Where are all the big Atlantic storms? A year ago, Hurricane Harvey made landfall in Texas, kicking off a parade of destructive storms that made 2017 the costliest Atlantic season ever. So far in 2018, the region has been oddly …

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Court Asked to Force EPA Reversal of Monsanto Weedkiller Approval

Environmental groups argued in federal appeals court on Wednesday the U.S. Environmental Protection Agency failed to analyze the risks Bayer AG Monsanto’s dicamba-based weed killer posed to nearby crops before approving it in 2016. The groups, which filed a lawsuit …

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2 Workers Killed in Scaffolding Collapse Near Disney World

Two construction workers fell to their deaths when scaffolding collapsed as they were pouring concrete on the seventh floor of a 16-story hotel under construction near Disney World early Wednesday, Orange County Sheriff’s officials said. The accident happened just outside …

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State Farm Purchases Naming Rights to Atlanta Hawks Arena

Philips Arena in Atlanta is being renamed for State Farm after a $192.5 million renovation. The Atlanta Hawks and the insurance company announced Wednesday they have reached a 20-year deal on naming rights for the arena, currently in the final …

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Holman Insurance Services Expands Offerings in Florida, Acquires Murray Insurance

Holman Insurance Services, a full-service brokerage offering personal and commercial insurance products headquartered in New Jersey, has expanded its personal insurance coverage into the Florida market. Offering a comprehensive lineup of personal insurance products including automotive, home, life and recreational …

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Houston’s Myron Steves Adds Tilford to Lead Claims Unit

Amanda Tilford has joined Houston-based managing general agency, Myron Steves, to lead the company’s Claims operations. She will be responsible for operating the claims processing unit, including the timely and proper disposition of claims in accordance with bound coverage. She …

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Farm Bureau Insurance of Michigan Names Taylor Marketing VP

Farm Bureau Insurance of Michigan has appointed Matt Taylor as its vice president of Marketing, effective Sept.7, 2018. Taylor began his insurance career serving in many positions at State Farm Insurance, including as an agent owner, an agency manager, and …

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Houston Eyeing Designer Bonds to Pay for $15B Ike Dike

A massive dike to hold back storm-driven floods surging in from the Gulf of Mexico was first proposed after Hurricane Ike devastated the Houston-area coast a decade ago. Last year’s Hurricane Harvey disaster brought fresh enthusiasm for the languishing project …

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EEOC Sues California Restaurant Chain Preferred Hiring Females Over Males

Burgers & Beer, a chain of Southern California restaurants, violated federal law when it denied males with the same employment opportunities as their female counterparts, the U.S. Equal Employment Opportunity Commission announced in lawsuit filed today. The EEOC contends that …

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Lockton Names Hill Personal Lines Leader in Nevada

Lockton has named Connie Hill to its signature client group in the Mountain West region. Hill is located in Lockton’s Las Vegas, Nev., office and will lead on providing advice and counsel to successful individuals and families. Hill has more …

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Illinois Governor Sends Workers’ Comp Bill Back to Lawmakers

Illinois Gov. Bruce Rauner has vetoed, with recommended changes, a workers’ compensation measure that would have allowed for interest to be paid on delayed payment in disputes between insurers and medical service providers. In his letter explaining his veto action, …

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New Workers’ Comp Program for California’s Cannabis Industry

California Insurance Commissioner Dave Jones today announced a new workers’ compensation insurance program for California’s cannabis industry. The program was created by Atlas General Insurance Services to serve businesses and workers in the cannabis industry. This program is designed to …

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Marsh’s Parks Joins The Hartford to Head Sales for National Accounts in Specialty Commercial Sales

After 30 years at brokerage Marsh, George Parks is joining The Hartford to become head of sales and field operations for national accounts in the insurer’s Specialty Commercial business. Parks will oversee national accounts client management and retention, new client …

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Church Mutual Launches New Online Insurer, CM Select

Church Mutual Insurance Co., based in Merrill, Wisconsin, has launched CM Select Insurance Co., which offers online access to products and serves created specifically for smaller churches and other religious organizations. Through CM Select, such organizations can obtain quotes, purchase …

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Allstate Says Brownsville, Texas, Has the Nation’s Safest Drivers

Illinois-based insurer, Allstate, has named Brownsville, Texas, the city with America’s safest drivers. The ranking is based on Allstate claims data. The 14th annual Allstate America’s Best Drivers Report spotlights safe driving leading up to the busy Labor Day travel …

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3 New Insurers OK’d to Do Business in Arkansas

Arkansas Insurance Commissioner Allen Kerr has approved three new insurance companies to conduct insurance business in that state. Authority was granted to West Bend Mutual Insurance Co. (WBM) of West Bend, Wisconsin, to offer property, casualty (including workers’ compensation), surety, …

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Seeman Holtz Acquires Indiana Agency, Ritman & Associates

Seeman Holtz Property & Casualty Inc. has acquired Noblesville, Indiana-based Ritman & Associates Inc., which specializes in professional liability insurance. Jennifer Ritman has built a boutique insurance agency specializing in all things property/casualty with an emphasis on professional liability insurance …

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Ex-CEO of Oklahoma Ambulance Service Settles Kickback Case for $80K

The former CEO of an Oklahoma ambulance service has agreed to pay tens of thousands of dollars to settle a civil kickback case. The U.S. Justice Department revealed Monday that Stephen Williamson will pay an $80,000 settlement, the Oklahoman reported. …

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10th Child Dies After Chicago Fire

The deadliest residential fire in years in Chicago claimed its tenth and final victim on Tuesday, as a 14-year-old boy who barely survived the blaze died at a hospital. Although authorities initially believed that two of the people killed by …

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Severe Storms Leave Trail of Damage in Wisconsin

An 11-year-old boy nearly lost his life in a waterlogged drainage ditch in eastern Wisconsin but was pulled to safety by an eagle-eyed firefighter who spotted his finger poking through a manhole cover, officials said, following another round of storms …

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Virginia Reminds Homeowners to Review Property Coverage Before a Hurricane

Although hurricane activity in the Atlantic has been relatively quiet so far for 2018 with only five named storms to date, the Virginia State Corporation Commission’s (SCC) Bureau of Insurance is reminding Virginians not to let their guard down. With …

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School District in California Settles Sex Abuse Cases for $15M

A Southern California school district agreed to pay more than $15 million to settle lawsuits by eight former students who say they were sexually abused by teachers and staff members, attorneys announced this week. The three cases involved former female …

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Judge Says FEMA Can End Motel Payments for Hurricane Maria Evacuees

A federal judge on Thursday rejected a request to block the U.S. government from cutting off aid to hundreds of Puerto Rican families who fled the hurricane-ravaged island in 2017 and are living in hotels and motels across the United …

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FDA Says Coffee Doesn’t Deserve California’s Cancer Risk Warning

The top U.S. regulator of food and health products endorsed a plan by California officials to exempt coffee from a state law that would have made Starbucks, Dunkin’ Donuts and other coffee shops add a cancer warning to cups of …

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Roost Partners with New York-Based Kingstone Insurance

Roost, a provider of home telematics for property insurance carriers, has partnered with New York-based Kingstone Insurance. Roost is a technology company headquartered in Sunnyvale, Calif. Kingstone is a property and casualty insurance holding company whose principal operating subsidiary, Kingstone …

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QBE North America Names Kearns to New Distribution, Engagement Post

Specialty insurer QBE North America has appointed Dennis Kearns as head of Distribution and Major Trading Partner Engagement, a newly expanded role with the organization. Based in New York City, Kearns will work closely with QBE’s regional executives and be …

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Pennsylvania’s Erie Insurance Group Names Pesta VP and Chief Internal Audit Officer

Erie Insurance has named Pam Pesta as vice president and chief internal audit officer, effective September 4, 2018. In this role, she will manage the overall operations of the Internal Audit Department and provide strategic, risk-based insight to the organization. …

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TransRe Buys Renewal Rights from Maiden Re; Hires Treaty Team

TransRe has acquired the exclusive renewal quotation rights to all of Maiden Maiden Reinsurance North America’s U.S. treaty customers from their diversified business. TransRe has also and has hired the U.S. treaty team from Maiden Re. The deal does not …

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Sizing Up Ridesharing and the Gig Economy

How big is the gig economy? The answer depends on how one defines “gig economy.” Because there is no broadly accepted definition and no straightforward way to classify workers or jobs as “gig” or “not gig,” this report will focus …

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Germany Echoes UK Concerns over Post-Brexit Risk to Insurance, Derivative Contracts

European Union and U.K. authorities must agree on a political solution to the threat Brexit poses to trillions of dollars in derivatives and insurance contracts, according to Germany’s top financial regulator. Felix Hufeld, the president of BaFin, said the industry …

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Nuclear Defense Facility Safety Board Raises Concerns Over Change in Policy

An independent safety panel that provides oversight of some of the nation’s highest risk nuclear facilities voiced concerns Tuesday that new federal policies could limit inspections and curtail access to key information. The Defense Nuclear Facilities Safety Board peppered Energy …

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AXIS Names Ventresca to New Position of Chief Strategy Officer

AXIS Capital Holdings Ltd. announced that Linda Ventresca has been appointed to the newly created position of chief strategy officer. Reporting directly to president and CEO Albert Benchimol, Ventresca will be responsible for guiding the development of the company’s strategic …

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As Arctic Ice Melts, New Energy Shipping Trade Route Opens

A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area. This year is likely to …

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China’s Largest Ride-Hailing Firm Didi Suspends Service After 2nd Passenger Killing

China’s largest ride-hailing company Didi Chuxing has suspended its carpooling service after a passenger was killed, and is likely to face tighter oversight that will squeeze driver numbers and extend customer waiting times. The incident, which follows a similar grisly …

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Hong Kong Seeking Talent in Marine Insurance, Cyber Security, Actuarial Science, etc.

If you’re a waste treatment specialist, actuary or naval architect, Hong Kong wants you. The government this week unveiled a talent list to attract skilled workers in 11 professions that the city is seen as needing most. Experts in asset …

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Santander Bank Settles Auto Finance, Insurance Claims

A unit of European lender Banco Santander SA has agreed to settle claims by a U.S. consumer watchdog that it misled drivers about the costs of loans and the coverage of related insurance policies, said three people with direct knowledge …

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Some Question Independence of Proposed Catholic Laity-Led Sex Abuse Investigations

A committee created by the Catholic Church specifically to prevent sexual misconduct by clergy on Tuesday issued a damning assessment of the failings to stem the abuse, calling it an “evil” caused by “a loss of moral leadership.” The National …

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New Online Insurer CM Select to Target Small Churches, Religious Organizations

Church Mutual Insurance Co. has launched CM Select Insurance Co. – an online insurer offering access to an insurance product specifically for smaller churches and other religious organizations. These organizations can obtain quotes, purchase policies and manage their insurance needs …

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Shooting at Florida Gaming Tournament Highlights Event Security Issues

A champion gamer’s decision to open fire Sunday afternoon during a video competition in Jacksonville, Fla. – killing two people and wounding nine others before killing himself – has prompted calls from gamers for more security at esports tournaments. “It’s …

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Mississippi Ship Builder Error Causes Fuel Spill Into Pascagoula River

Hundreds of gallons of diesel fuel spilled into a river in Mississippi after a mechanical error at a ship builder. WLOX-TV reported the fuel spilled into the mouth of the Pascagoula River from a ship at Ingalls Shipbuilding. The Mississippi …

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Tennessee Court Dismisses DUI Conviction Over ‘Unconstitutional’ Roadblock

The Tennessee Court of Criminal Appeals has dismissed a drunken driving conviction, ruling that a roadblock that led to the man’s arrest in Chattanooga was unconstitutional. The Chattanooga Times Free Press reports 58-year-old Robert Franklin was convicted in 2016 of …

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Insurers Looking to Continue Hiring in Very Competitive Labor Market

Insurance companies are hoping to hire additional employees over the rest of 2018 in a labor market that remains extremely competitive, according to a study from The Jacobson Group and Aon’s Ward Group. About 63 percent of companies said they …

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California Legislature Passes Bill Aimed Collecting Data and Helping Wildfire Victims

The California Legislature has passed Senate Bill 824, a bill aimed at provided information to the California Department of Insurance related to fire risk information on the residential property policies issued by insurers. The bill prohibits insurers from canceling or …

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Deadline Next Week: Nominate Your Agency as a Best Agency Today!

Do you love your agency? Is it a Best Place to Work For? If so, don’t forget to nominate your agency to be named as one of Insurance Journal’s Best Agencies to Work For in 2018. The deadline to submit …

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A.M. Best: Insurers Equipped to Handle Hurricane Lane Losses

A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance Program’s reinsurance program into …

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Cybercube in California Adds Swiss Re’s Weber to Board

CyberCube has added Matthias Weber to its board of directors. Weber was previously group chief underwriting officer and member of the group executive committee at Swiss Re. San Francisco, Calif.-based CyberCube is a provider of cyber risk analytics for the …

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Louisiana Sees 10-Month Increase in Not Seasonally Adjusted Nonfarm Jobs

Louisiana’s not seasonally adjusted nonfarm employment increased by 26,000 jobs from July 2017 to 1,980,200, marking 10 consecutive months of increases, the Louisiana Workforce Commission reported. Over the same time period, not seasonally adjusted private sector employment increased by 28,500 …

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SLTX: Houston City Council to Buy $30M in Cyber Insurance Coverage

The Houston City Council voted unanimously to purchase $30 million in cyber insurance coverage at a total premium cost of $471,000. The policy provides first-party coverage for the city’s operations, third-party coverage for the city’s liability to others, and coverage …

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Official Says Fireworks, Cigarettes May Have Caused Deadly Chicago Blaze

Investigators seeking the cause of Chicago’s deadliest fire in well over a decade were searching the porch area where the blaze started for evidence of fireworks, cigarettes or other smoking materials, a fire official said. Fire Department spokesman Larry Langford …

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Maday Joins J.M. Wilson as Assistant Property/Casualty Underwriter

Managing general agency and surplus lines broker J.M. Wilson has added Mark Maday as assistant property/casualty underwriter in the company’s Arlington Heights, Illinois, office. Maday is responsible for underwriting new and renewal business, corresponding with carrier underwriters, and assisting independent …

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CorLife LLC Launches Home Health Service for Workers’ Comp

CorLife LLC, a Green Bay, Wisconsin-based provider of ancillary benefits and home modification services for workers’ compensation carriers nationwide, has added a new company, CorCare LLC, which provides skilled, home health services to workers’ comp insurers. CoreCare offers all levels …

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Tulsa, Oklahoma, CBD Shops Multiply Amid Medical Pot Legalization

Tulsa’s market growth for cannabis-derived products without the high of THC was inevitable regardless of Oklahoma’s medical marijuana legalization, according to advocates. Proponents of medical marijuana have fielded questions about whether entrepreneurs are opening cannabidiol, or CBD, shops with the …

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India Government Recommends J&J Pay Compensation for Recalled Hip Implants

A government panel has recommended that Johnson & Johnson (J&J) pay compensation of at least $28,500 to each Indian patient who suffered from artificial hip implants the U.S. healthcare firm recalled eight years ago. The ASR hip implants were recalled …

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Last Year’s Wine Country Fires in California Leave Homeowners Struggling

Construction crews have already put up the frame on Cheri Sharp’s new house, but she still questions whether rebuilding was the right choice after California’s most destructive wildfire took her old home in wine country nearly a year ago. She’s …

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New Mexico Couple Wins $74M for Baby’s Brain Damage in Delivery

A jury has awarded a New Mexico couple $74 million in a medical malpractice lawsuit involving a son left with brain damage. KOB-TV in Albuquerque reported the jury this month ruled that a women’s health clinic in Hobbs, New Mexico, …

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AP Intego Names Victor Director of West Coast Operations

AP Intego Insurance Group has named Pamela Victor director of West Coast operations. The company announced its plan to open a West Coast sales, service and business development office in the San Francisco Bay Area with Victor leading the new …

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Kushner Cos. Fined $210K by New York for False Documents

The Kushner family real estate company was fined $210,000 by New York City regulators on Monday following an Associated Press investigation earlier this year that showed it routinely filed false documents with the city claiming it had no rent-regulated tenants …

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Agencies Focus on Growing for Larger Accounts: Channel Harvest Survey

Independent agents and brokers are focusing on growing the average size of their commercial lines accounts, according to “Agent Voices 2018,” a report based on a survey conducted earlier this year and cosponsored by Channel Harvest Research and Insurance Journal. …

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Lawsuit Against Connecticut Bar Seeks More Than $50K in Damages After Fatal Crash

Relatives of a Waterbury, Conn., man who died in a car crash that also killed the wife of longtime ESPN broadcaster Chris Berman has filed a lawsuit against a Connecticut restaurant. A lawyer for the restaurant declined comment on the …

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Pastor Pleads Guilty to Setting Fire to His Washington D.C. Rental Apartment

The pastor of a Baltimore, Md., church has pled guilty to setting fire to an apartment he rented in Southeast Washington in a plan to collect insurance money. Jamel Carelock, the pastor of Lead Church, pled guilty in the Superior …

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UK, EU Officials Drop October Deadline for Brexit Divorce Deal: Sources

The UK and the European Union still say in public they want a Brexit deal wrapped up in the next seven weeks. Behind the scenes, though, senior officials on both sides admit this is unlikely. They now aim to finalize …

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Hiscox Appoints Peterson to Miscellaneous Professional Liability Product Head in N.Y.

Hiscox, an international specialist insurer, has appointed Tyler Peterson to miscellaneous professional liability product head in New York. Peterson joined Hiscox in 2012 as a professional risks underwriter and most recently drove product development and expansion across Hiscox UK’s Media …

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Travelers’ Chapman to Lead IAT’s New Surety Unit After IFIC Acquisition

IAT Insurance Group has hired Ken Chapman as executive vice president, Surety, to lead IAT’s new surety business following IAT’s acquisition of IFIC Surety Group that is expected to close in the third quarter. Chapman will join the company’s leadership …

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Barnes & Noble Calls Fired CEO’s Defamation Claims ‘Lies and Mischaracterizations’

Barnes & Noble Inc. was sued on Tuesday by a former chief executive officer who said the largest U.S. bookstore chain falsely accused him of violating its sexual harassment policy before firing him after 14 months on the job. In …

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Litigation Financing Emerges as Alternative Asset Class for Wealthy Investors

When shares of AMP Ltd. plunged earlier this year after the firm was engulfed in a fee-for-no-service scandal, the Australian wealth manager was hit within weeks by the first of five separate class action lawsuits. It wasn’t just the seriousness …

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THB Announces New Strategy, Leadership for UK Wholesale Broking Operation

THB, the London-based specialist insurance and reinsurance broker, announced new leadership and a new multi-sector strategy for THB UK Risk Solutions, its wholesale broking operation which places UK risks on behalf of some 1300 brokers. Declan Durkan, who joined THB …

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Google Partners with Indian Banks to Attract Users to Its Digital Payments Services

Alphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital …

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Insurers Increasingly Seek Legacy Transfers to Shed Long-Tail Liabilities

Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve disposals in 2017, bolstered by continued momentum in early 2018, indicate …

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Credit Ratings Assigned to New Horizons Insurance Co. of Missouri

A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to New Horizons Insurance Company of Missouri (New Horizons). The outlook assigned to these Credit Ratings (ratings) is …

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Small Earthquake Shakes North Alabama

No damage is being reported after a minor earthquake rattled northern Alabama. The U.S. Geological Survey says a magnitude 2.1 earthquake happened around 7:22 a.m. Monday about 15 miles north of Huntsville near the Tennessee state line. The Geological Survey …

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Opioid Deaths Continue to Rise in South Carolina

South Carolina officials say the number of deaths caused by opioids has increased for the third year in a row. The state’s Opioid Emergency Response Team met Aug. 20 and officials noted in a news release that South Carolina had …

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Lighter, Lower Cost Smart Clothing Shows Potential in Injury Rehabbing

Clothing and footwear that detect human movement could soon become the preferred fashion choice for people recovering from injuries or trying to avoid them as the technology is becoming lighter and less expensive. A team of engineers at the University …

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P/C Insurance Industry Delivered Improved Results in First Half

Mid-year results for U.S. property/casualty insurers and reinsurers show they are on the mend following a trying 2017, according to Fitch Ratings. Operating performance moderately improved for P/C (re)insurers during the first half of the year thanks to improved core …

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NCCI Proposes 13% Rate Decrease for Florida Workers Comp, Notes Future Challenges

Florida businesses could see another significant rate decrease in workers’ compensation rates next year if Florida regulators approve the latest filing from the National Council on Compensation Insurance (NCCI). But the recent trend of lower rates may not last for …

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Wildfire Insurance Bill Signed by California Governor

California Gov. Jerry Brown on Monday signed into law a bill that is intended to combat what are believed underinsurance issues revealed by 2017 wildfires. AB 1797 by Assemblyman Marc Levine, D-Marin County, is expected to create a requirement for …

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1-in-5 Consumers Say They’d Use Amazon or Google for Home Insurance

One-in-five consumers say they would use Amazon or Google for their home insurance, a J.D. Power released a survey released today shows. And most of those who took the survey (80 percent) already have insurance with a large national carrier. …

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Education Is Reason Behind Replica of Katrina Flood-Damaged Home

In a dynamic before-and-after project, a nonprofit organization has partially restored a home ravaged by a catastrophic rush of floodwater when a New Orleans levee failed 13 years ago during Hurricane Katrina, re-creating two rooms to look like a typical …

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First Medical Marijuana Patient Licenses Awarded in Oklahoma

More than 1,600 people and businesses applied for Oklahoma medical marijuana licenses on the first day that applications were made available. The online application system went live at 10 a.m. Saturday at www.OMMA.ok.gov for all potential medical marijuana patients, growers, …

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Keystone Insurers Group Adds 2 More Wisconsin Agencies

Keystone Insurers Group has added Family Insurance Center of Seymour, Wisconsin, and the Walker Agency Inc., with locations in Berlin, Montello and Westfield, Wisconsin, to its growing list of partners in that state. Family Insurance Center was established in 1988 …

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Radar Coverage in North Dakota to Be Improved After Deadly Tornado

The National Weather Service is taking steps to improve weather radar coverage for western North Dakota after a deadly tornado in the area raised awareness of gaps in coverage. The National Oceanic and Atmospheric Administration has committed to studying whether …

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Hernandez Named Interim Texas State Fire Marshal

Orlando Hernandez, a 28-year veteran of the fire and emergency services professions, has been selected to serve as the interim state fire marshal, the Texas Department of Insurance announced. Hernandez has been the life safety coordinator at the Texas Department …

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CPA Mutual Acquires Michigan’s Professional Management Consultants Assoc.

CPA Mutual, headquartered in Gainesville, Florida, has acquired Michigan-based Professional Management Consultants Association of America (PMCA) in a move to expand brand awareness among more CPA firms, particularly those that serve the healthcare industry. Since 2014, PMCA has been an …

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Vermont Residents Learn More About River Regulations for Flooding

The Norwich Planning Commission in Vermont says it is gathering information on implementing proposed river corridor regulations. The commission and municipal Planning Director Rod Francis met last Thursday with about 15 town residents to discuss adopting language recommended in the …

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Nevada Court Dismisses Casino Mogul Defamation Case Against News Outlet

A Nevada judge has dismissed a defamation lawsuit by casino mogul Steve Wynn against The Associated Press and an AP reporter based on a report about two women’s accounts to police alleging sexual misconduct by Wynn. Clark County District Court …

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Vermont State Police Investigating Plane Crash

A plane has crashed in northern Vermont, killing its sole occupant. WCAX-TV reports the Vermont State Police are investigating the crash in Island Pond. The crash happened Saturday afternoon, near the John H. Boylan Airport. Emergency crews responding to a …

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Tesla Driver in California Blames Autopilot for Firetruck Crash, Arrested for DUI

Authorities say a Tesla driver, who said he thought his car was in Autopilot mode, crashed into the back of a firetruck in San Jose. The California Highway Patrol says the Tesla rear-ended a fire engine that was stopped with …

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At-Bay in California Names Sadoff of Hiscox Head of Insurance

Mountain View, Calif.-based At-Bay announced that Brett Sadoff will join the company as head of insurance. Sadoff will be responsible for design and deployment of At-Bay’s insurance program, field operations, and underwriting. He will report to Rotem Iram, CEO, and …

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Landlord in Maine Fire That Killed Six Begins Jail Sentence

The owner of a Maine apartment where six people died in a fire has begun serving his jail sentence for a safety code violation. Fifty-two-year-old Gregory Nisbet reported to Cumberland County Jail Wednesday. He was sentenced to serve a three-month …

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Lloyd’s Provides Insurance for Cryptocurrency Storage

Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The move by Kingdom Trust, which has $12 …

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Goldman Sachs Wants Whistleblower’s Claims Sent to Arbitration

Goldman Sachs Group Inc. says claims by a former executive that the bank retaliated against him for blowing the whistle on its failure to comply with anti-money-laundering policies should be heard outside of court or dismissed. The former executive, Chris …

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Cape Town Drought Highlights Risk to South African Companies: UBS

Cape Town’s water crisis, which saw the drought-hit city come within 90 days of turning off the taps earlier this year, highlights the threats to South African companies from a repeat event and should serve as a warning to vulnerable …

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Finding the Missing Pieces in the Condo Insurance Coverage Puzzle

Have you ever watched someone try to finish a jigsaw puzzle with pieces missing? There are still a few hundred pieces to place, but there is one open space in the middle of a grove of trees that beckons to …

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Country Financial CEO Bock Plans to Retire in January

Kurt Bock will retire as chief executive officer of Illinois-based Country Financial effective January 31, 2019, after serving in the leadership role for seven years. The company said a search for his successor is underway. Bock has been chief executive …

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Ban on Publishing Blueprints for 3-D Guns Extended by Judge

A U.S. judge extended a ban on publishing blueprints for 3-D printed guns online, handing a procedural victory to states and gun-control groups that argue the practice will make it easy for criminals and terrorists to get their hands on …

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Startup’s Newest Employee Benefit, Stem Cell Storage, Is Forever

As MyCrypto mulled what benefits to offer employees, the new blockchain startup asked them what they wanted. “Surprisingly, we found that the traditional health benefits and 401(k) benefits—they had no interest in those,” said Taylor Monahan, the company’s founder and …

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Harvard Blasts Plaintiff in Seeking Dismissal of Admissions Discrimination Claim

Harvard University said a lawsuit by Asian-Americans who claim the school discriminated against them during the admissions process should be dismissed because their arguments are based on “invective, mis-characterizations and in some cases outright misrepresentations.” The Ivy League school told …

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No-Deal Brexit Won’t Be ‘End of the World’: UK Prime Minister

The U.K. can still make a success of Brexit if it tumbles out of the European Union without a deal, Prime Minister Theresa May said, striking an upbeat tone as the clock ticks down on Britain’s departure from the bloc. …

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Lloyd’s Market Assn. Appoints Navigators’ Cameron as CEO, Succeeding Gittings

Sheila Cameron, currently head of International Operations at Navigators Underwriting Ltd., is to become the next CEO of the Lloyd’s Market Association (LMA), following the announcement that David Gittings will be stepping down at the end of the year after …

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Hong Kong’s FWD to Buy HSBC’s Stake in Malaysia Insurance Joint Venture: Sources

Hong Kong-based insurer FWD Group has agreed to buy HSBC Holdings Plc’s stake in a Malaysian insurance joint venture as part of a plan to expand its presence in Asia, three people familiar with the matter said. FWD, owned by …

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Berkshire Invests in One97, Operator of India’s Biggest Digital Payments Firm

Berkshire Hathaway Inc. bought a stake in the company behind Paytm, India’s biggest digital-payments brand, in the conglomerate’s first foray into the country’s startups. Warren Buffett, Berkshire’s chairman and chief executive officer, wasn’t directly involved in the investment in One97 …

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Private Equity Firm Apollo Agrees to Purchase Aspen Insurance Holdings for $2.6B

Apollo Global Management LLC agreed to acquire Aspen Insurance Holdings Ltd. as private equity firms seek to grow the assets they oversee. Apollo will pay $42.75 a share for the Hamilton, Bermuda-based insurer, a premium of 6.6 percent to Monday’s …

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Western Kentucky University Developing Drought Warning System for State

Western Kentucky University is developing a statewide drought warning system with the help of a $200,000 federal grant. The Bowling Green Daily News reports the Kentucky Climate Center at Western Kentucky University received the two-year grant from the National Oceanic …

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Trinity Underwriting Managers Adds Kirchen as Underwriter in Georgia Office

Trinity Underwriting Managers (TUMI), a division of Worldwide Facilities, has added Haley Kirchen as underwriter. She will be based in the Savannah, Ga., office. Kirchen has more than 15 years of experience to her new position including roles at Nationwide …

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North Carolina Suspends Printing of Driver’s Licenses Due to Card Errors

The North Carolina Division of Motor Vehicles has suspended the printing of new driver’s licenses after people noticed errors on new cards. The News & Observer reports the DMV has asked contractor IDEMIA to stop printing and issuing licenses until …

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Serial Arsonist Arrested for Torching RVs at Florida Dealership

A serial Florida arsonist has been arrested and charged with 10 counts of 2nd degree arson in Palm Beach County for setting fires to $300,000 worth of RVs, according to a statement from Florida CFO and State Fire Marshal Jimmy …

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Report Shows California Wildfires, Climate Change Altering Insurance Landscape

Insurers may be non-renewing more in wildfire-prone areas of California, sending an increasing number of people to the residual market or to surplus lines insurers. A report released on Monday shows that market shares of the FAIR Plan, the state’s …

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West Virginia AG Reaches Settlement Over Unlawfully Repossessed Vehicles

West Virginia’s attorney general says his office has reached a settlement over allegations that a leasing company unlawfully repossessed vehicles. Attorney General Patrick Morrisey said in a release that the settlement with Auto Trakk LLC was valued at nearly $900,000. …

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The Villages Insurance Partners of Florida Promotes Connell

The Villages Insurance Partners (TVIP) has promoted Rose Connell to Personal Lines executive manager. Connell’s new leadership role will have her working directly with the Personal Lines division to ensure client satisfaction and firm profitability. Other responsibilities include the planning …

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Indiana Sees Decline in Workplace Injuries

Work is getting safer in Indiana, with employment-related injuries hitting an all-time low. The (Northwest Indiana) Times reports that recently released federal statistics from 2016 show the state hit an all-time low that year of 3.5 per injuries for every …

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Louisiana Company to Pay $165K Resolve Disability Discrimination Suit

An Allemands, Louisiana-based provider of marine transportation services will pay $165,000 to settle a disability discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC said Otto Candies LLC also will provide other relief to settle the …

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Texan Sentenced on Workers’ Comp Fraud Charges

Texas Mutual Insurance Company reported that a Travis County district court has sentenced Christopher Colligan of Baytown on workers’ compensation fraud charges. The company said Colligan reported a job-related injury while working as a driver for Macro Oil Company Inc. …

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New Crop Insurance Program May Benefit Wisconsin Dairy Farmers

A new federal crop insurance program may help Wisconsin dairy farmers protect against low milk prices. Wisconsin Public Radio reports that the American Farm Bureau Federation and its insurance company recently announced the Dairy Revenue Protection program, which starts in …

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Houston-Area Voters Approve Flood-Control Bond Measure

Voters in Houston and its surrounding county marked the anniversary of Hurricane Harvey coming ashore by approving the issuance of $2.5 billion in bonds to fund flood-control projects that might mitigate the damage caused by future storms. With nearly all …

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Largest Chicago Apartment Fire in Years Kills 8

Eight people, including six children, were killed when a fire broke out before dawn Sunday at a Chicago apartment in one of the deadliest fires in the nation’s third-largest city in years, officials say. Two other people were hospitalized in …

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In Suit, Kansas Woman Blames Crash on ‘Pokemon Go’

A Kansas woman alleges in a lawsuit that she was struck and injured by a driver playing “Pokemon Go” not long after the game’s release. The Wichita Eagle reports that Angeligue Farris is seeking more than $75,000 in damages from …

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Argo Names Duncan to Lead U.S. Specialty Programs

Specialty insurer Argo Group has appointed Marsh Duncan to serve as senior vice president U.S. Specialty Programs, effective immediately. In this role, Duncan will lead the company’s strategy to offer customized insurance products and services through specialized program administrators. Duncan …

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Washington City, Insurer Settle with Utility over Fire Started by Police

A city in eastern Washington state has agreed to a settlement with a power company after a large fire started last year during a gun-shooting training exercise for local police officers. The Yakima Herald-Republic reports the Yakima city council on …

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Storm Passes Through Hawaii After Massive Rains

A once-powerful hurricane twisted and drifted away from Hawaii, leaving behind heavily saturated ground on the Big Island and many residents on other islands relieved it didn’t wreak more havoc. Firefighters on the Big Island rescued 39 people from floodwaters …

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California’s Plan to Help Utilities Deal With Fire Costs

California lawmakers outlined a proposal to help PG&E Corp. and other utilities cope with billions of dollars of potential damages from deadly wildfires that ravaged the state last year. The plan, part of a broad package addressing the growing threat …

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California’s 1st Cannabis Insurer Expands Coverage

California Insurance Commissioner Dave Jones approved a filing from Golden Bear Insurance Co. amending its California Cannabis program product to lower rates, expand coverage options, and expand the classes of business they will cover. Jones last year approved a Golden …

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Allstate to Acquire Identity Theft Protection Firm InfoArmor

The Allstate Corp. has agreed to acquire InfoArmor, a provider of employee identity protection, for $525 million in cash. The insurer said it sees “significant opportunity to cross sell” the new product through its own Allstate Benefits customer relationships and …

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Two in Serious Condition After Being Rescued from Massachusetts Plane Crash

Authorities say two people were seriously injured when a plane crashed near a small airport south of Boston, Mass. NBC Boston reports the small plane crashed near Cranland Airport in Hanson on Thursday afternoon and left two people trapped in …

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Massachusetts Regulators Approve Testing Labs, Moving First Pot Sales Closer

Massachusetts marijuana regulators have approved licenses for two independent testing labs, a move that could help clear the way for the first retail pot shops in the eastern U.S. to open soon. The Cannabis Control Commission on Thursday voted to …

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Lagging on Safety System, New Jersey Transit Nixed for Federal Grant

New Jersey Transit has been rejected for additional federal money as it scrambles to install a required safety system by year’s end. The Federal Railroad Administration on Thursday announced more than $200 million in grants for 28 railroads to implement …

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Airbnb Sues New York City to Block User-Data Bill Over Privacy

Home-rental providers Airbnb Inc. and HomeAway are suing New York City over a recently passed law that allows the collection of data on the websites’ hosts, claiming the ordinance violates users’ constitutional rights. Airbnb is hoping to avoid millions in …

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Why Insurance Agencies at Crossroad Are Turning to Aggregators: Viewpoint

Even as they look back on several years of steady growth and success, many owners of independent insurance agencies now find themselves at a crossroad where they are pressed to make critical strategic decisions about the future of their firms. …

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The Co-operators Offers Storm Surge Insurance to Homeowners in Atlantic Canada

The Co-operators Group Ltd. is offering storm surge insurance to homeowners in the provinces of Atlantic Canada: New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador. Most recently released in Nova Scotia, The Co-operators Comprehensive Water insurance is …

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Senate Republicans Prepare Pre-Existing Condition Bill in Case Obamacare Nixed

Ten Senate Republicans have introduced legislation that would reinstate Obamacare rules that prohibit insurers from turning away people with pre-existing conditions if a new lawsuit that seeks to invalidate the healthcare law succeeds. The legislation comes two weeks before oral …

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GoCompare.com Attracts Interest From KKR, Other Private Equity Firms

GoCompare.com Group Plc attracted takeover interest from potential acquirers, including private equity firm KKR & Co., in recent weeks, according to people familiar with the matter. The U.K. insurance comparison company and its board decided to stay independent after holding …

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Canada Should Require Stronger Rail Cars for Crude Before 2025 Deadline: Official

Canada ought to require stronger tank cars for transporting flammable liquids sooner than the current deadline in 2025, Transportation Safety Board Chair Kathy Fox said on Thursday, noting that crude-by-rail shipments are expected to rise in the country. “We understand …

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What Will Happen to EU Financial Services Firms After No-Deal Brexit?

Britain will unilaterally accept some European Union rules and give EU financial services firms continued access to the U.K. market in order to maintain stability if the country crashes out of the bloc without a deal, the country’s top negotiator …

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Express Scripts, Cigna Shareholders Vote in Favor of $52 Billion

Cigna Corp. shareholders on Friday voted in favor of the health insurer’s proposed $52 billion acquisition of pharmacy benefit manager Express Scripts Holding Co., although the deal still needs clearance from antitrust authorities. The vote in favor of the merger …

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German Wildfire Southwest of Berlin Detonates Buried WWII Ammunition

Firefighters struggled Friday to tame a wildfire southwest of Berlin but had to maneuver carefully as the blaze set off old World War II ammunition that is still buried in the forests around the German capital. Flames forced the evacuation …

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Tennessee Slaugterhouse Hit With $41K in Fines Over Safety Violations

A state inspection that took place days after an immigration raid at a Tennessee slaughterhouse has resulted in more than $41,000 in fines for working conditions at the plant. The Tennessee Occupational Safety and Health Administration lists 27 violations, including …

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South Carolina Supreme Court Appoints Judge to Manage Opioid Lawsuits

South Carolina’s high court has appointed a single judge to handle any lawsuits related to opioids in the state system. On Thursday, the state Supreme Court assigned Circuit Court Judge Perry Gravely to the task. Gravely, based in Pickens, has …

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Alcohol in Any Amount Found Unsafe; Linked to 3 Million Deaths a Year: Global Study

A new scientific study concludes there is no safe level of drinking alcohol. The study shows that in 2016, nearly 3 million deaths globally were attributed to alcohol use, including 12 percent of deaths in males between the ages of …

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Indiana Fire Marshal Threatens to Shutter Pallet Factory Over Safety Issues

A northern Indiana fire marshal has threatened to shut down a pallet company because factory conditions pose a threat to worker safety. Michigan City Fire Marshal Kyle Kazmierczak wants to shutter Calumet Pallet’s plant until company officials improve safety conditions, …

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Combs Named Oklahoma Deputy Commissioner of Insurance Business Transfers

Oklahoma Insurance Commissioner John Doak has named Buddy Combs the new deputy commissioner of insurance business transfers at the Oklahoma Insurance Department. The move is in preparation for the new Insurance Business Transfer (IBT) law, which becomes effective in November. …

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Detroit Mayor, 8 Motorists Sue Insurance Commissioner Over Michigan’s No Fault Law

Asserting that Michigan’s no-fault auto insurance law is unfair to the poor, Detroit Mayor Mike Duggan filed a lawsuit in US District Court, seeking to have the 45-year-old law declared unconstitutional. The suit names Director of the Department of Insurance …

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China’s Giant Ping An Insurance Sues U.S. Broker Over Use of Name

China’s giant Ping An Insurance Group is suing a California-based wholesale brokerage over its use of the name Ping An. The Chinese financial services firm is demanding that Ping An Insurance Center (www.pingan-is.com), based in El Monte, Calif., cease using …

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Ohio Jury Awards $3.4M to Female Ex-Firefighter in Harassment Claim

A federal jury has awarded $3.35 million to a female ex-firefighter in Ohio who says she was the longtime victim of sexual harassment. Amie Morningstar of the Circleville Fire Department alleged she was subjected to equipment tampering, clothing destruction and …

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In Harvey’s Wake: 68 Dead, Damage Costs in the Billions

Hurricane Harvey slammed into Texas last August as a powerful Category 4 storm, killing dozens of people and causing billions of dollars in damage. Though its fiercest winds quickly dissipated, the storm hovered for days as it trudged inland, dumping …

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One Year Post-Harvey, Recovery Toughest for the Poor

Shirley Paley’s life before Hurricane Harvey was already a struggle: The 61-year-old former postal worker was raising her 17-year-old autistic grandson while dealing with a workplace injury that left her legally blind, on disability and in need of three cornea …

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U.S Traffic Fatalities Dip Slightly in First Half of 2018

Preliminary estimates indicate a leveling off of the recent upward trend in motor vehicle deaths, with the number of fatalities in the first six months of 2018 dipping just slightly – less than 0.5 percent – from six-month 2017 estimates. …

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M6.3 Earthquake Confirmed on Remote Alaskan Island

A magnitude 6.3 earthquake struck Wednesday night in Alaska, the Alaska Earthquake Center confirmed. The center reported the quake occurred in the remote Andreanof Islands region of Alaska, but was felt almost 70 miles away in Adak. It had a …

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Rains from Hurricane Pummel Hawaii, Causing Floods and Landslides

Hurricane Lane has brought record rainfall to Hawaii, where flooding threatens $8 billion of homes and few can remember such torrential downpours. In 12 hours, 16.48 inches of rain fell on the Big Island of Hawaii and daily records were …

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Hurricane Lane Nears Hawaii as FEMA Promises to Do Better This Time

As a Category 4 hurricane roars toward Hawaii, the Federal Emergency Management Agency said it’s learned the lessons of last year’s devastation of Puerto Rico and is vowing a better response. Calling 2017 “historic,” Jeff Byard, FEMA’s associate administrator for …

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Sixth Tornado of the Year Confirmed in Pennsylvania

Weather officials say a tornado touched down in western Pennsylvania, but no injuries were reported. The National Weather Service office in Pittsburgh says Tuesday’s EF-1 tornado was confirmed in Jefferson County just south of Brockway packing winds of 85 to …

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Wilson Elser Hires Sharp in New Jersey

Wilson Elser has hired James Sharp as of counsel in its New Jersey office. Sharp’s practice focus is professional liability and insurance defense with a particular emphasis on health care. He most frequently represents hospitals and health care facilities, physicians, …

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Kaplansky Insurance Acquires Massachusetts’ Lit-Flynn Insurance Agency

Kaplansky Insurance, an independent, locally owned agency in the Northeast, has acquired Lit-Flynn Insurance Agency in Randolph, Mass. Lit-Flynn Insurance Agency offers coverage on individual and personal insurance policies. The addition of the agency marks Kaplansky Insurance’s 30th overall acquisition …

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New York Health Officials Investigating Illnesses Linked to McDonald’s Outlet

New York state health officials said on Thursday they were investigating reports of multiple illnesses potentially associated with a McDonald’s Corp restaurant in Jamestown, N.Y. The state health department and the Chautauqua County Health Department said 22 individuals reported symptoms …

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Big Insurers Still Taking a Pass on Marijuana Profits

Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are taking a pass. Allianz SE, Hartford Financial …

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South Korea Braces for Typhoon Soulik, While Typhoon Cimarron Aims at Japan

An approaching typhoon has whipped up strong winds, waves and heavy rain in southern South Korea, leaving one person missing and one injured, while another typhoon headed for western Japan on Thursday. Typhoon Soulik is forecast to make landfall at …

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AFL Insurance Brokers Appoints Gagg from Towergate Insurance as CFO

Independent Lloyd’s broker AFL Insurance Brokers Ltd. (AFL) has appointed Chris Gagg as chief financial officer and a member of the AFL board of directors, effective Sept. 1. Most recently group head of Treasury at Towergate Insurance (the Ardonaugh Group), …

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Bayer’s Monsanto Faces 8,000 U.S. lawsuits on Glyphosate-Based Weedkillers

The number of U.S. lawsuits brought against Bayer’s newly acquired Monsanto has jumped to about 8,000, as the German drugmaker braces for years of legal wrangling over alleged cancer risks of glyphosate-based weedkillers. Bayer had previously disclosed 5,200 such lawsuits …

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Swiss Re Names Higginbotham as CEO Reinsurance EMEA, Succeeding Henchoz

Swiss Re announced that Russell Higginbotham has been appointed CEO Reinsurance EMEA and regional president EMEA and member of the group executive committee, effective Sept. 1, 2018. Higginbotham succeeds Jean-Jacques Henchoz, who has decided to leave Swiss Re to become …

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Genoa Bridge Was Crumbling onto Homes Below for Many Years Before Disaster

People living under the Italian bridge that collapsed last week with the loss of 43 lives had known for years it was crumbling: pieces kept falling on their homes and cars. A month earlier, residents met officials in charge of …

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Stunt Coordinator Injured on Atlanta Set of ‘MacGyver’ Series

A stunt coordinator has been injured on the set of the CBS TV series “MacGyver” in Atlanta. CBS Television Studios said in a statement Wednesday that Justin Sundquist was injured late Monday after an accident. The studio says he remains …

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Chairman of Florida Citizens Board Gardner Resigns, Aubuchon Appointed Interim Chair

Christoper Gardner, chairman of the Board of Governors of Citizens Property Insurance Corp., Florida’s insurer of last resort, has resigned. Gary Aubuchon, formerly vice chair, has been appointed as interim chair by Florida Chief Financial Officer Jimmy Patronis. Gardner notified …

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Kentucky Fines Justice Companies Additional $3M Over Coal Mine Clean-Ups

West Virginia Governor Jim Justice’s family coal companies are breaching their environmental responsibilities, according to Kentucky regulators, who are seeking millions in additional fines for surface mining areas that haven’t been cleaned up. The Justice companies, which are now being …

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Report Outlines Climate Change Risks Faced by Insurance Sector

A newly issued report that’s being touted as the “first important review of climate risk by an international financial standard setting body” may get the attention of the insurance community. If it does, mission accomplished. That’s what the report was …

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EU Action Needed to Ensure Post-Brexit Continuity of Cross-Border Insurance: UK

Britons living in the European Union could lose access to their UK bank account services and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit, the British government said on …

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California High Court: Workers’ Comp Law Provides Exclusive Remedy in Utilization Review Case

The California Supreme Court issued an opinion today that utilization review physicians cannot be sued for malpractice, upholding established law that the workers’ comp system provides injured employees an exclusive remedy against an employer for compensable work-related injuries. The court …

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Texas Seeking Money for Coastal Spine,’ Government Protection from Climate Change

As the nation plans new defenses against the more powerful storms and higher tides expected from climate change, one project stands out: an ambitious proposal to build a nearly 60-mile “spine” of concrete seawalls, earthen barriers, floating gates and steel …

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Survey: 10% of Texans Displaced by Harvey Still Haven’t Gone Home

One year after Hurricane Harvey slammed the Texas coast, 10 percent of the people impacted by the disaster have not been able to return to their homes, according to a report from two nonprofits that surveyed Texans about how the …

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Hull Insurance Agency, Higginbotham Join Forces in Fort Worth

Higginbotham and the Hull Agency have merged their insurance services operations in Fort Worth, Texas. The Hull Agency will partner with Higginbotham’s downtown offices to service its more than 300 commercial and personal property/casualty clients and expand its services to …

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Wisconsin’s Coverra Insurance Joins Keystone Insurers Group

Keystone Insurers has expanded into 12 states with the addition of Coverra Insurance Services in Sparta, Wisconsin, its first agency partner in that state. Coverra Insurance Services opened in 1984 and today employs 25 insurance professionals. The growing agency has …

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Home Depot to Pay $100K to Settle Illinois Disability Discrimination Lawsuit

Home Depot, the large national home improvement retailer, has agreed to pay a former employee $100,000 and provide other relief to settle a disability discrimination lawsuit, according to the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC said Home Depot …

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J&J Vows to Appeal After Missouri Judge Affirms $4.69B Talc Verdict

A Missouri trial court judge has affirmed the massive $4.69 billion verdict against Johnson & Johnson in a case involving 22 women and their families who alleged the company’s talc-based products, including its baby powder, contain asbestos and caused them …

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NFP Names Ongkiko HR Services Vice President, to Support West Relationships

NFP has named Michael Ongkiko vice president for HR services. Ongkiko will be responsible for overseeing HR services in the West region and driving integrated selling by delivering HR consulting for both current and prospective clients. Ongkiko has more than …

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Markel Appoints Beazley’s Lam as Professional & Financial Risks Underwriter

Markel International, the London-based specialist insurer, has appointed Gordon Lam as a senior professional and financial risks (PFR) underwriter. He will be based in Singapore initially and is expected to relocate to the Hong Kong office in due course. He …

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Hawaii’s Big Island Feels Effects of Approaching Hurricane Lane

As emergency shelters opened, rain began to pour and cellphone alerts went out, the approaching hurricane started to feel real for Hawaii residents. Hurricane Lane was forecast to continue i Hurricane Lane was forecast to continue its northwest turn into …

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Venture Capital Firm, Beat Capital, Partners with Investment Vehicle Paraline UK

Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support independent underwriting businesses.” As a result of …

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California Attorney General Expects State to Play Role in Opioid Deal

California’s attorney general signaled that he expected to play a major role in settling a nationwide legal fight over the opioid crisis even though the state hasn’t been as hard-hit as others. Drugmakers and pharmaceutical wholesalers are facing more than …

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Startup Root Raises $100 Million, Prepares to Go National

Root Insurance raised a $100 million financing round in a bid to fuel market expansion and hiring as the auto insurance startup with its telematics-based platform goes national. Tiger Global Management led the Series D funding round, with Redpoint Ventures, …

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Investors Betting on Workplace Medical Clinics to Help Employers Contain Costs

A group of investors is putting up $165 million to fuel an expansion of Paladina Health, bringing a recent surge of private funds flowing into companies that run primary-care clinics to more than a half-billion dollars. The venture capital firm …

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New Hampshire’s Beals Insurance Agency Joins The Northern United Agents Alliance

Beals Insurance Agency LLC has joined the Northern United Agents Alliance (NUAA) as a participating member. With offices in Bedford and Londonderry, N.H., Beals Insurance is a full-service independent insurance agency specializing in home, auto, commercial and life insurance. Headquartered …

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New Hampshire’s Satellite Agency Network Group Hires Collins

Satellite Agency Network Group Inc. (SAN), a Hampton, N.H.-based alliance of independent insurance agencies in the Northeast, has hired Sondra Collins as a commercial lines placement specialist for its AccessPlus department. In this role, Collins is responsible for the placement …

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Ex-Employee Sues Connecticut’s Pratt & Whitney Over Jet Engines

A former engineer for jet engine maker Pratt & Whitney has filed a federal false claims lawsuit alleging the company knowingly sold “flawed” engines to the U.S. Air Force, which resulted in the likelihood of premature wear or even “catastrophic …

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Distributors Who Didn’t Get Rich Sue Herbalife Over ‘Circle of Success’ Events

Patricia and Jeff Rodgers figured they did everything right to get rich beyond their wildest dreams selling Herbalife health and personal care products. They attended all of the “Circle of Success” events, brought in new recruits, met their quotas on …

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Commercial Lines Premiums Up 2% in Q2: CIAB Survey

The trend of increasing commercial insurance premiums that began in the fourth quarter of 2017 continued last quarter. Average premiums across all sized accounts increased by 1.5 percent in Q2, according to The Council of Insurance Agents & Brokers’ latest …

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Brand Name Drug Maker Not Liable for Injuries from Generic Version: Court

A U.S. appeals court on Wednesday tossed a $3 million verdict against GlaxoSmithKline over the suicide of an attorney who took a generic version of the company’s antidepressant Paxil, finding the company could not be held liable for injuries allegedly …

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Insurance Data for Sale in China – Despite Strict Data Protection Laws

When William Zhang’s car insurance was about to expire in March, he didn’t need to look far for renewal options. In the two months before the policy was up Zhang received calls almost daily from insurers trying to sell him …

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Australia Bans China’s Huawei from Supplying Mobile Equipment, Citing Hacking Risks

Australia has banned Chinese telecoms firm Huawei Technologies Co Ltd. from supplying equipment for a 5G mobile network, citing risks of foreign interference and hacking which Beijing dismissed as an “excuse” to tilt the playing field against a Chinese firm. …

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Operator of Genoa Bridge Says New Steel Bridge Can Be Built in 8 Months

The board of the private company that controls the bridge that collapsed in Genoa approved on Tuesday an initial 500 million euros ($576 million) in funding to help victims and finance a new steel bridge that it says can be …

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New World of Digital Recruiting: Chatbots, Videos and Social Media

Long gone are the days when employees printed their resumes and cover letters on fancy paper, worried about choosing the proper font, and put both documents in the mail. The idea of employers printing paper job advertisements is also a …

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CopperPoint in Arizona Names Johnston Chief Marketing Officer

Phoenix, Ariz.-based CopperPoint Insurance Cos. has named Jennifer J. Johnston chief marketing officer and executive vice president of marketing and communications. Johnston has more than 25 years of experience in strategic marketing and communications. She was most recently chief strategic …

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Reliance Partners of Tennessee Names Howell Chief Operating Officer

Reliance Partners, a commercial insurance agency headquartered in Chattanooga, Tenn., has promoted Laura Ann Howell to the position of chief operating officer. Prior to the promotion, Howell began her career with Reliance Partners in 2015 as vice president, overseeing HR …

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Back-to-School Delayed for Alabama Students After Fire Damages High School

More than 400 students are missing class this week after a fire damaged their high school in Alabama. News outlets report that Booker T. Washington Magnet High School in Montgomery caught fire early Saturday. Montgomery Fire Capt. R.C. Wood says …

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Former Jacksonville Jaguar Player Arrested in $78K Insurance Fraud Scheme

Former Jacksonville Jaguars NFL player and assistant coach Marlon Tarron McCree has been arrested for insurance fraud totaling nearly $78,000, according to a statement from Florida Chief Financial Officer (CFO) Jimmy Patronis. McCree was drafted by the and played for …

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Kentucky Distillery Sues Bob Dylan Whiskey Company Over Trademark

Heaven Hill Distillery of Kentucky is taking Bob Dylan’s whiskey company to court, claiming trademark infringement involving its logo. Heaven’s Door Spirits is co-owned by the musician and debuted this year. WDRB-TV reports a Heaven Hill lawyer sent a cease-and-desist …

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Hurricane Lane Threatens 48K Hawaii Homes with Reconstruction Value of $8B

A new analysis shows 48,617 homes in Hawaii with a total reconstruction cost value of roughly $8 billion are at extreme-to-very high risk of hurricane-driven flood damage from Hurricane Lane. The CoreLogic analysis issued late Wednesday is based on National …

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Hurricane Lane Weakening as it Approaches Hawaii, But Still Strong

Hurricane Lane has weakened as it approaches Hawaii but was still expected to pack a wallop, forecasters said Wednesday, as people hurried to buy water and other supplies and the Navy moved its ships to safety. The National Weather Service …

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Missouri Insurance Department: Medical Professional Liability Insurers Saw Tiny Profit in 2017

In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net worth. Last year, insurers were in the …

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Outlooks Upgraded to Stable for Michigan’s Farmers Mutual Insurance

A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of “b” of Farmers Mutual Insurance Company of Michigan (FMIBC) in Coldwater, Michigan. The ratings …

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University of Texas Pays $600K to Settle Kearney Discrimination Lawsuit

The University of Texas agreed to pay $600,000 to settle former women’s track coach Bev Kearney’s race and gender discrimination lawsuit, according to documents released Monday. Kearney and the school agreed to settle her nearly five-year-old lawsuit in June. Terms …

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Risen Named President of Meadowbrook Insurance Agency in Michigan

Brian L. Risen, senior vice president, Mackinaw Underwriters, Retail Distribution Management, a member of the AmeriTrust Group Inc., has been promoted to president of the Meadowbrook Insurance Agency in Southfield, Michigan. Risen brings extensive experience in strategic planning, sales, marketing …

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EPIC Insurance Brokers Adds Morales, Siddons as Principals in Southwest Region

Sam Siddons and Craig Morelos have joined the property/casualty practice at EPIC Insurance Brokers and Consultants as a principal, reporting to EPIC Managing Principal and Southwest Region Director KJ Wagner. Siddons will be responsible for new business development, the design, …

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New Task Force to Address High Auto Insurance Rates Louisiana

A new task force created to investigate the high cost of auto insurance in Louisiana held its first meeting on Aug. 21, the Louisiana Department of Insurance reports. The Louisiana High Auto Rates Task Force was formed by Insurance Commissioner …

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Explaining, Apologizing for Medical Errors Cut Liability Claims 66%: Research

Hospital staff and physicians who are willing to explain, apologize for and resolve adverse medical events significantly reduce legal defense and liability costs, according to a study led by Dr. Florence R. LeCraw, an Atlanta anesthesiologist and adjunct professor at …

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Cincinnati Financial’s Scherer to Retire in Year; Company Announces Executive Changes

Cincinnati Financial Corp. announced that Jacob F. Scherer Jr., chief insurance officer and executive vice president of its lead subsidiary, The Cincinnati Insurance Co., plans to retire in August 2019. The company also announced his replacement and other leadership changes …

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Experian’s Hickman Joins Marsh as Global Head of Data Science Unit

Global insurance broker Marsh has appointed Andrew Hickman as global head of Data Science within its broader Digital, Data and Analytics Practice. In this newly-created role, Hickman is responsible for advancing Marsh’s risk modeling and actuarial capabilities. He will build …

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Hawaii Bracing for Blow from Hurricane Lane

Hawaii is bracing for a grazing blow from Category 5 Hurricane Lane, now packing 160-mile-per-hour winds, enough to collapse frame buildings, cause power outages that could last weeks or months and snap trees off at the root. The storm was …

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Boeing Over Duwamish Contamination of Washington River

A new lawsuit says the Boeing aircraft company is poisoning the Duwamish River by pumping out pollution that is far and away above the legal limit. KOMO-TV reported environmental groups Puget Soundkeeper and Waste Action Project say the Military Delivery …

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How, Why and Where Insurance Agencies Should Use Data Analytics

As the data insurance agencies and brokerages continues to grow, agency managers are faced with having to answer how, why and where they can successfully analyze and use all of this data. The answer to the “why” is simple: To …

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Disaster Declaration Approved for Connecticut’s Tornado Recovery

U.S. President Donald Trump has approved a disaster declaration for Connecticut following severe storms that included four tornadoes. The tornadoes touched down in six towns in Connecticut during the May 15 storms. Connecticut Gov. Dannel P. Malloy asked the federal …

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New Jersey Investigating NRA-Sponsored Carry Guard Insurance

The New Jersey Department of Banking and Insurance is investigating the marketing and sale in New Jersey of insurance sponsored by the National Rifle Association for potential violations of state insurance laws. The Department is examining Overland Park, Kansas-based Lockton …

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UK Could See Surge in Subsidence Claims Due to Prolonged Drought: Sedgwick

The UK could see a surge in subsidence due to the prolonged spell of hot and dry weather across the country, according to Sedgwick, a London-based provider of technology enabled risk, benefits and integrated business solutions. Based on the company’s …

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Mass. SJC Says Hospital Does Not Have Duty of Care in Former Patient’s Stabbing Suit

The Massachusetts Supreme Judicial Court has ruled that Steward Carney Hospital does not have a duty of care after a patient released from an involuntary psychiatric commitment fatally stabbed his neighbor. The court found the order of civil commitment to …

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The Hartford to Acquire Specialty Insurer Navigators in $2.1 Billion Deal

The Hartford Financial Services Group has agreed to acquire specialty insurer The Navigators Group in a transaction that values Navigators at approximately $2.1 billion. Under the terms of the agreement, Navigators stockholders will receive $70.00 per share in cash upon …

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Guy Carpenter Partners with RPC Consulting to Offer Re/Insurance Analytic Platform

Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., announced a multi-year, global strategic partnership with Reynolds Porter Chamberlain Consulting (RPCC) to license and develop proprietary applications to run within …

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Insurance Premiums from Insurtech to Exceed $400 Billion by 2023: Study

Insurance premiums generated by emerging insurtech services will exceed $400 billion by 2023, up from an estimated $187 billion in 2018, according to a new study from U.K.-based Juniper Research. The study found that while insurtech enables rapid transformation of …

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Engineers Determined in February Genoa Bridge Had Weakened by 20%: Report

Engineering experts determined in February that corrosion of the metal cables supporting the Genoa highway bridge had reduced the bridge’s strength by 20 percent – a finding that came months before it collapsed last week, Italian media reported Monday. Despite …

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Workers Win $1.9 Million Sexual Harassment Settlement with Uber

The cost of Uber Technologies Inc.’s sexual harassment scandal is now itemized: 56 current and former employees who filed claims stand to collect an average of $33,928.57. In addition, almost 500 female and minority engineers covered by a 2017 class-action …

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QBE’s Restructuring Gains Momentum with Its Focus on Profitable Underwriting

QBE’s restructuring over the last year has focused on exiting loss-making businesses and portfolios, while emphasizing profitable underwriting across the group. Good progress has been made — as demonstrated in the financials, along with strong premium rate increases, top line …

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Google Accused of Illegally Tracking, Violating Privacy of Smartphone Users

Google has been accused in a lawsuit of illegally tracking the movements of millions of iPhone and Android phone users even when they use a privacy setting to prevent it. According to a complaint filed late Friday, Google falsely assures …

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Hannover Re’s CEO Wallin to Retire, Succeeded by Swiss Re’s Henchoz

Hannover Re announced that Chief Executive Officer Ulrich Wallin will retire following the company’s annual general meeting on May 8, 2019. He will be succeeded on that date by Jean-Jacques Henchoz (53), who has been appointed as a member of …

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Corless Promoted to CEO of Workers’ Comp Provider AF Group in Michigan

Lisa Corless has been promoted to president and CEO of AF Group, a subsidiary of Blue Cross Blue Shield of Michigan. Corless assumes CEO duties from Elizabeth Haar, who is now BCBSM executive vice president and president of emerging markets. …

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Federal Judge Keeps Duke Energy Water Pollution Lawsuit Alive

A federal judge is keeping alive a lawsuit accusing the country’s second-largest electricity company of violating water pollution laws by allowing potentially toxic coal ash sludge into neighboring waterways. U.S. District Judge Loretta Biggs ruled this week that environmentalists can …

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Run-Off Venture Targets Florida Auto Insurer Peachtree Casualty for First Acquisition

International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and Bermuda/Caribbean run-off markets. SOBC DARAG’s first acquisition will be Peachtree Casualty …

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High-Net Worth Insurer Vault Enters South Carolina

Vault, an insurer focused on the high net-worth personal insurance market, has officially opened for business in South Carolina. Vault offers insurance coverage and services for high-value homes, art, jewelry, cyber and personal excess liability coverage. Vault’s business model, built …

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Gellermann Named Chief Deputy Commissioner in Washington

Washington Insurance Commissioner Mike Kreidler has named AnnaLisa Gellermann chief deputy commissioner. She begins Aug. 27. Gellerman is currently the deputy commissioner for the policy and legislative affairs division. She joined the insurance commissioner’s ofice in 2013 as the deputy …

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CSAA Chief Downey to Retire after 45 Years

Paula Downey, president and CEO of CSAA Insurance Group in California since 2010, will retire following a search for her successor. Downey recently led the AAA insurer through a six-year infrastructure transformation. She was in the insurance business for 45 …

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Farmers in California Names Wilson Chief Information Officer

Woodland Hills, Calif.-based Farmers Insurance has named Paul Wilson the new chief information officer. Wilson will serve as a member of the insurer group’s senior leadership team and oversee the development and application of all strategic IT initiatives. Wilson joins …

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California Commissioner OKs State’s First Insurtech Title Insurer

California Insurance Commissioner Dave Jones has approved a license for States Title, the first insurtech title insurer licensed and domiciled in California. States Title Insurance Company of California will use data-driven technology to predict the risk and severity of a …

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11 Ways to Balance Technology with Personal Touch to Engage Customers

Technology does a lot but it can’t do everything. Sometimes business people forget that. They become so dependent on email and social media that they lose sight of what people really need from them. Yes, clients expect to connect with …

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New York Man Pleads Guilty in the Killing of His Girlfriend’s Mother

A New York man charged in the killing of his girlfriend’s mother for insurance money has pleaded guilty. WHEC-TV in Rochester reports Knowledge Couser entered his plea Thursday to murder charges in connection with the death of 52-year-old Julie Martin. …

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Missouri Man Files Lawsuit Over Deadly 2015 Shooting of Son

The father of a man killed in a St. Louis, Mo. police shooting has filed a wrongful death lawsuit. The St. Louis Post-Dispatch reported that the federal lawsuit alleges that Mansur Ball-Bey was unarmed in August 2015 when he was …

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Weather Service Confirms Tornado in Southwest Missouri

Authorities say storms have damaged trees, downed power lines and churned up at least one small tornado in southwest Missouri. National Weather Service meteorologist Drew Albert says an EF-0 tornado has been confirmed near Diggins in Webster County. It uprooted …

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Heavy Rain Dumped by North-Central Arkansas Storm

Storms moved across northern Arkansas, dumping heavy rain and causing flooding in the town of Clinton. National Weather Service meteorologist Sean Clarke in Little Rock says 5.1 inches of rain fell in about a two-hour period Sunday night in the …

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Oklahoma Concert-goers Injured by Powerful Storm

An Oklahoma casino says 14 people suffered cuts and bruises when a powerful rainstorm toppled entrance trusses and disrupted the start of an outdoor concert by the Backstreet Boys. Kym Koch-Thompson, spokeswoman for the WinStar World Casino and Resort, says …

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UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report

In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit, according to a report published …

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Federal Government Will Shrink California Beach City’s Flood Zone

A report says a Southern California beach city has persuaded federal officials to exclude about 2,700 coastal properties from updated flood maps, saving homeowners thousands in insurance costs. The Los Angeles Times reported that as a result, homeowners in parts …

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Colorado Rafting Outfit Says Waiver Means It’s Not Liable for Death

A Colorado rafting company says it can’t be held responsible for the 2016 death of a Maryland man because the victim signed a waiver before entering the boat. Aspen Whitewater Rafting filed a counterclaim Aug. 8 in the U.S. District …

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FBI Seeks Help to Find Art Depicting Old West Stolen from New York City Home

The FBI is seeking the public’s help in rounding up more than a half-million dollars’ worth of artworks that were stolen in 1983 from the New York City home of an artist known for his scenes of the American West. …

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Study Says Uber Had No Impact on Some Crash Rates in Virginia

A recent study finds no evidence that ride-hailing app Uber reduced the number of serious car wrecks in Virginia. The research also found no change in the likelihood that a fatal crash involved alcohol. The College of William & Mary …

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Repko Joins AIG as AIG Chief Information Officer, Replacing Gallo

American International Group announced that John P. Repko will join the company as executive vice president, chief information officer, effective September, succeeding Martha Gallo, who the insurer said is leaving AIG to pursue other interests. Repko will be responsible for …

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Lafreniere Joins Slice Labs as Chief Growth Officer to Work with Insurers

On-demand insurance platform Slice Labs Inc. has hired Philippe Lafreniere as chief growth officer to work with carriers on the development of digital insurance products serving business and consumers. Lafreniere brings 25 years of global insurance technology experience to the …

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Augmented Reality Property Claims Venture Raises $3.9 Million

PLNAR, an augmented reality service that creates, fully measured, real-time 3D models of any room, has raised $3.9 million in a Series A investment round led by insurtech and healthcare venture capital fund ManchesterStory Group. Additional funding came from The …

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Republicans Move to Clarify Tax Provision on Sexual Harassment Claims

U.S. Senate Republicans on Thursday sought to correct a section of President Donald Trump’s tax overhaul that threatened to prevent sexual harassment victims from claiming a tax deduction for the legal costs they incur while pursuing their cases. In a …

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Chubb Appoints Wong as Country President for Hong Kong, Taiwan & Macau

Chubb has appointed Stanley Wong as country president for Hong Kong, Taiwan & Macau, effective Oct. 1, 2018. He replaces Doug White, who was appointed to the role of head of the Major Accounts Division for Chubb in Asia Pacific. …

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AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B

Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to Boston-based catastrophe modeling firm AIR Worldwide. …

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Genoa Bridge’s ‘Unusual’ Design Investigated as Possible Contributor to Collapse

The bridge that collapsed in the Italian port city of Genoa was considered a feat of engineering innovation when it was built five decades ago, but it came to require constant maintenance over the years. Its design is now being …

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China’s Ping An Insurance Profits Rise 34% in First Half

Ping An Insurance Group Co. of China, the country’s second-largest insurer by market value, on Tuesday reported a 34 percent rise in first-half net profit on strong growth at its life insurance and asset management businesses. Net profit came in …

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Extreme Weather Risk Grows as Warming Earth Disrupts High-Altitude Winds: Study

Scorching summer heatwaves and downpours are set to become more extreme in the northern hemisphere as global warming makes weather patterns linger longer in the same place, scientists said on Monday. They said there was a risk of “extreme extremes” …

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VW’s CEO Knew About Cheating Software Before Scandal Emerged: Der Spiegel

Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said. Der Spiegel’s story, based on recently unsealed …

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Benetton Family’s Wealth Drops by $2B After Genoa Bridge Disaster

Fallout from the Genoa bridge disaster has erased about $2 billion of net worth from one of Italy’s richest families. The billionaire Benettons control 30.25 percent of Atlantia SpA, the construction company and toll-road owner that operated the Morandi Bridge …

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Artist R. Kelly Accused of Damaging Georgia Rental Homes in Lawsuit

An Atlanta-area property company is suing Grammy-winning R&B artist R. Kelly for $203,400 over “extensive damage” to two homes he rented. The Atlanta Journal-Constitution reports SB Property Management Global, LLC., based in East Point, filed the lawsuit Wednesday. It says …

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Sentenced for Workers’ Comp Fraud, Ohio Home Remodeler Must Repay $255K

The owner of a residential construction business in Dayton who under reported his payroll by millions of dollars to lower his workers’ comp premiums has been sentenced for workers’ compensation fraud, the Ohio Bureau of Workers’ Compensation (BWC) reported. Honorato …

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Ohio Tool Manufacturer Faces $213K in OSHA Penalties for Amputation Hazards

Federal safety officials have proposed $213,411 in penalties against an Ohio manufacturer for amputation hazards at the company’s workplace. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited ArtiFlex Manufacturing for exposing workers at its Wooster location …

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Why Organizations Cover Up Sex Abuse Scandals

Of all the horrific details contained in the Pennsylvania grand jury report on child sexual abuse in the Catholic Church, one sentence stands out: “The main thing was not to help children, but to avoid `scandal.”’ When sex-abuse cases dominate …

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Texas Workers’ Comp Fraudster Sentenced for Double Dipping

A Travis County, Texas district court has sentenced Gary Hunt of Austin on workers’ compensation fraud charges. Hunt reported a job-related injury while working as a sales coach for Radiant Plumbing Service Inc., and claimed he was unable to work …

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Monsanto Has Another Legally Risky Chemical Product

Some Bayer AG investors were surprised to learn about the thousands of farmers lining up before U.S. courts to argue that Roundup — the blockbuster weedkiller the German company recently acquired when it bought Monsanto Co. — had given them …

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Baldwin Risk Partners of Florida Appoints Valentine as Chief Partnership Officer

Baldwin Risk Partners (BRP), the Tampa, Fla.-based insurance distribution and consulting holding company, is pleased to announce the appointment of John Valentine as chief partnership officer. Valentine joins BRP with more than 17 years’ experience closing mergers and acquisitions in …

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A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers

Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports last week. Everest Re was among those negatively impacted, with a preannounced net reserve charge of …

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Explosion at Georgia Coffee Shop Injures 3

An explosion and fire destroyed a coffee shop Friday in a rural south Georgia city, seriously injuring three people and prompting a warning from city officials for residents to avoid the downtown area. The blast rocked tiny Homerville, a city …

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California’s Plan for PG&E Bonds to Cover Fire Damages in Final Stages

California is finalizing the details of a plan that could let PG&E Corp. issue bonds to cover potential damages from wildfires that destroyed thousands of homes last year. The details are still being worked out, and a proposal may be …

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California Workers’ Compensation Bureau Submits Lower Pure Premium Filing

The Workers’ Compensation Insurance Rating Bureau of California on Monday submitted an advisory pure premium rate filing lower than last year’s approved rate to the California Insurance Commissioner. The advisory pure premium rates proposed to be effective Jan. 1, 2019 …

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Damage Reported in Mississippi City Hit by EF1 Tornado

The National Weather Service confirms a tornado hit the central Mississippi city of Madison. The agency, in a Twitter post Saturday, said a survey team confirmed Friday’s damage was the result of an EF1 tornado. Several trees were snapped along …

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Washington Lawmaker Sues University, Investigator over Firing

Republican Rep. Matt Manweller is suing Central Washington University and the investigator it hired to look into allegations of inappropriate conduct. Manweller, a political professor at the college since 2003, was fired from the school last week, and immediately filed …

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Jury Rules Nevada Liable for 2017 Wildfire That Burned 23 Homes

A jury has found the Nevada Division of Forestry liable for the loss of 23 homes and 17 other buildings in a 2016 wildfire after strong winds re-ignited a prescribed burn. The verdict set the stage for future court proceedings …

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Dry Fall And Worsening Drought in Oregon Portends Wildfires

A climate prediction report issued by the National Weather Service says Oregon will remain hot, dry and smoky well into autumn this year. The Statesman Journal reported that forecast in the report released last week means that the state’s existing …

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Changes in California Fire-Liability Law Looking Less Likely

California utilities won’t get a break from lawmakers who were weighing changes to state liability laws that expose the companies to billions in potential damages from last year’s wildfires. Lawmakers don’t have enough time to study and pass a bill …

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Jewelers Mutual Acquires Shipping Software Firm TransGuardian

Specialty insurer Jewelers Mutual Group has purchased the assets of TransGuardian Inc., a high-value item shipping and logistics software company. Terms of the transaction were not disclosed. Jewelers Mutual partnered with TransGuardian in 2017 to develop its JM Shipping Solution, …

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Trump Asks SEC to Study 6-Month Instead of Quarterly Corporate Filings

President Donald Trump said on Friday he had asked the U.S. Securities and Exchange Commission to study the impact of allowing companies to file reports with the financial regulator every six months instead of every quarter. “That would allow greater …

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Pennsylvania Governor Declares Disaster After Recent Floods

Days after touring areas of eastern Pennsylvania that were hard-hit by flooding, Governor Tom Wolf has signed a “disaster emergency” proclamation for the area. Friday’s move allows the state to ask for a federal disaster declaration and seek funding for …

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Massachusetts Dessert Company Awarded $720K in Fight Over Ice Cream

A Massachusetts dessert company that accused its ice cream supplier of destroying its business by secretly altering the recipe has been awarded $720,000. The jury verdict came Friday in the legal battle between 600 lb Gorillas Inc. and New Jersey-based …

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Socius Insurance Services Hires Ascolese in New York City

Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has hired Jerry Ascolese to join its casualty practice as vice president. Ascolese will be based in New York City – a new region for Socius. Ascolese brings 25 …

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A.M. Best Upgrades Ratings for Palisades Group, High Point Homeowners Group

Plymouth Rock Assurance has announced that A.M. Best Rating Services Inc. upgraded the financial strength ratings of the Palisades Group and High Point Homeowners Group to A- (Excellent). In addition, their long-term issuer credit ratings have been upgraded to a-. …

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Swiss Re’s DePiero Joins Sompo Pro’s U.S. Cyber Practice

Richard DePiero has joined Sompo Pro, the U.S. professional liability insurer unit of Sompo International, as senior vice president, U.S. Cyber Product leader. DePiero will be responsible for Sompo Pro’s U.S. cyber and network security offerings. He brings more than …

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China Imports with Iranian Oil Tankers and Insurance, Amid Sanctions: Sources

Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States. …

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As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.

Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study released by insurance industry …

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India Hit with Worst Floods in Century, Bringing Damages of $3B, 350-Plus Deaths

Some 800,000 people have been displaced and over 350 have died in the worst flooding in a century in southern India’s Kerala state, as authorities rushed to bring drinking water to the most affected areas, officials said Sunday. At least …

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Steamship Mutual Authorized to Establish Branch in Hong Kong

Steamship Mutual P&I Club announced the Hong Kong Insurance Authority has formally authorized the Club to establish a branch in Hong Kong from Aug. 17, 2018. Steamship Mutual said it is the first P&I Club to gain authorization from the …

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China’s Online Insurer ZhongAn to Get Investment from SoftBank for Overseas Growth

ZhongAn Online P&C Insurance Co. Ltd., the first internet-only insurer in China, announced its subsidiary ZhongAn International will receive a strategic investment from SoftBank Vision Fund, which will support the growth of ZhongAn’s technology solutions businesses outside China. The amount …

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No-Deal Brexit: A Lose-Lose for UK and EU Financial Stability

With Brexit talks back from the summer holidays, it’s worth considering one way in which failure to reach a deal before the U.K.’s departure in March would also be bad for the European Union. Such an outcome would unsettle the …

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Chubb Launches Major Accounts Division in Asia-Pacific Region, Headed by White

Chubb announced the establishment of a Major Accounts Division in the Asia Pacific region, a dedicated premium service that encompasses underwriting, risk engineering and claims for the region’s large, global and multi-national clients and business partners. The new Major Accounts …

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Spokesman: City’s Insurer, not Kansas Family’s, Paid for Broken Sculpture

An Overland Park, Kansas, official admits he was mistaken about who paid for a $132,000 sculpture at the city’s community center that was damaged by a young boy. City spokesman Sean Reilly said in July that the insurance company for …

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Phi Delta Theta Fraternity, LSU Sued by Parents After Son’s Death

The parents of a Louisiana State University freshman who died of alcohol intoxication last year after an alleged fraternity hazing filed a federal lawsuit against the university board, the fraternity and several of the fraternity’s members. Stephen and Rae Ann …

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Kansas Commissioner: Enrollment Rises in College Insurance Programs

Enrollment in courses eligible for the Kansas Insurance Certificate Program at several Kansas higher learning institutions is rising, according to the state insurance department. The department says around 500 students have enrolled in the certificate program for the 2018 fall …

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Ohio Work Comp Bureau to Distribute $1.1M in Grants to Fire Depts.; $1.2M to Employers

Through a program to protect firefighters from carcinogens and other harmful health hazards encountered by firefighters during their daily work activities, the Ohio Bureau of Workers’ Compensation (BWC) will distribute $1.1 million in safety grants to more than 100 fire …

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Arkansas ‘Tort Reform’ Advocates Stunned by Church Group’s Opposition

So-called tort reform has been an easy sell in states controlled by Republicans, and backers of a lawsuit-limiting proposal on the ballot in Arkansas this fall expected little trouble winning passage until they ran into a surprising obstacle from a …

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Finding Toyota Negligent in Accident, Texas Jury Awards $242M to Family

A Texas jury awarded damages of $242 million to a Dallas family after finding that defects in the family’s Lexus sedan caused injuries to their two children during a rear-end collision, the law firm representing the plaintiffs said on Friday. …

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Stanford Study Links Medical Errors to Physician Burnout

The epidemic of physician burnout may be the source of even more medical errors than unsafe medical workplace conditions, a new study led by Stanford researchers has found. Physician burnout is at least equally responsible for medical errors as unsafe …

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Millennials in Insurance Talk Age and Tech Gaps, Insurance Being a ‘Well-Kept Secret’

What is the best part about working in insurance? For a group of millennials speaking with Insurance Journal at a July roundtable, the answer was simple. “The people,” roundtable participants agreed. At the same event, when asked about one challenge …

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Court Says Trump Administration Must Implement Chemical Safety Rule

A federal appeals court on Friday ordered the Trump administration to immediately implement an Obama-era chemical safety rule introduced in response to a 2013 explosion at a fertilizer plant in Texas that killed 15 people. The D.C. Circuit Court ruling …

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FEMA: Alabamians Need Flood Insurance

The Federal Emergency Management Agency (FEMA) is encouraging those in Alabama to purchase flood insurance. Though flooding is Alabama’s second-most common natural hazard, occurring on average every 12 days, FEMA says only a small percentage of people living in Alabama …

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12 People Hurt in Tent Collapse at Alabama Traditions Bank Event

Authorities say 12 people have been hospitalized, including three who were seriously injured, after a tent collapsed at a bank’s shareholders’ event. WBMA-TV says about 400 people were under the tent Thursday night when it came crashing down, some ducking …

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Cabrillo Coastal Launches Flood Coverage Endorsement for Florida Homeowners

Cabrillo Coastal General Insurance Agency, headquartered in Gainesville, Fla., is now offering a flood endorsement for new or existing homeowners policies for their admitted programs in Florida. Cabrillo’s flood product was built from a different rating structure than the National …

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After Delay, Louisiana OKs Planting of Medical Marijuana

Louisiana’s first legal crop of medical marijuana can be planted this week. Agriculture Commissioner Mike Strain, whose agency regulates the burgeoning industry, loosened a regulatory logjam that created a months-long delay. The Monroe News-Star reports that Strain’s team met with …

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AIR Worldwide Updates Wildfire Model with Event-Based Risk Management Approach

Catastrophe risk modeling firm AIR Worldwide (AIR) has released an updated Wildfire Model for the United States designed to provide a comprehensive view of the risk of wildfire to property within the 13 westernmost conterminous states. The event-based modeling approach …

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School System in North Carolina County Lawsuit Accused of Neglect, Discrimination in Suit

A lawsuit filed against a North Carolina school system and its board of education says an elementary school in need of repairs was discriminated against because of race. The Winston-Salem Journal reports the lawsuit, filed Monday against the Winston-Salem/Forsyth County …

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SECURA Insurance Adds Switzer as Market Manager in Kentucky

Appleton, Wis.-based SECURA Insurance has added Lisa Switzer as market manager for Kentucky. Switzer brings 28 years of experience in the insurance industry to her new role with a diverse mix of commercial, personal, and specialty lines roles. She was …

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ICT to Begin Annual Texas ‘Hurricane Tour’

The Insurance Council of Texas (ICT) is set to launch its annual “hurricane tour” aimed at reminding coastal residents to be ready in case a hurricane or tropical storm should make landfall this year. Beginning on Aug. 20, ICT’s Mark …

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York Named Chief Underwriting Officer at CM Vantage

Michael York II has been named chief underwriting officer for CM Vantage Specialty Insurance Co., reporting to President Alan Ogilvie. York will oversee CM Vantage’s underwriting operations and work closely with CM Vantage’s distribution partners. Prior to joining CM Vantage, …

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Hy-Vee Sued by Minnesota Family Sickened by Tainted Pasta Salad

A Minnesota family sickened by eating pasta salad contaminated with salmonella is suing the Iowa-based grocery store chain that distributed the food. The lawsuit was filed Tuesday against Hy-Vee Inc. The suit alleges a woman, her daughter and her grandson …

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Missouri Corrections Officers Awarded $113.7M in Overtime Lawsuit

A jury has awarded Missouri prison guards compensation for work they performed before and after their shifts. A Cole County jury on Aug. 14 awarded $113.7 million to 13,000 current corrections officers or those who worked at the Department of …

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Federal Safety Board Links Plugged Drill Pipe to Deadly Oklahoma Well Fire

There were signs that a natural gas well was not fully sealed before it exploded in January, killing five workers, the U.S. Chemical Safety Board said in an updated report on the accident on Thursday. The incident, which took place …

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Washington Lawsuit Says College Dean Raped Assistant

A woman has filed a lawsuit against Bellevue College claiming the school, and by extension Washington state, fostered a hostile work environment by failing to protect her from a former dean. SeattlePI.com reported the woman’s attorney Julie Kays filed the …

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Hawaii to Allow Rideshare Operators at Honolulu Airport

Hawaii will allow ridesharing services to operate at the Honolulu airport on a permanent basis after changes were approved to administration rules. Uber and Lyft, which the state refers to as transportation network companies, have operated at the Daniel K. …

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Study Looks at Polypharmacy Claims in California Workers’ Comp

A study from the California Workers’ Compensation Institute shows the likelihood that indemnity was paid on a workers’ comp claim increased with the number of concurrent prescriptions the injured worker was on. Concurrent use of multiple medications to treat one …

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The Liberty Co. Acquires Majority Ownership of Mitchell & Mitchell in California

The Liberty Company Insurance Brokers has acquired majority ownership in Mitchell & Mitchell Insurance Agency of Novato, Calif. Liberty will become majority owner joining with several former shareholders of Mitchell & Mitchell, including Gary Mitchell who will continue as president. …

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ACORD Launches Data Toolkit for London Market Reinsurance, Big Commercial Risks

ACORD, the global standards body for the insurance industry, has launched an Adoption Toolkit to support the application of data standards for global reinsurance and large commercial risks in the London market. “The benefits of implementing data standards are being …

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Seeman Holtz Property & Casualty Continues Expansion into Pennsylvania

Seeman Holtz Property & Casualty Inc. has continued its expansion into Pennsylvania with its acquisition of Merchants Preferred Insurance Services, headquartered in Erie, Penn. This acquisition will strengthen Seeman Holtz Property & Casualty’s foothold in the Northeast, according to a …

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Engineering Study Last Year Warned Operator About Stability of Genoa Bridge: Reports

An engineering study commissioned by Italian highway operator Autostrade last year warned about the state of the concrete-encased cable stays that held up a bridge that collapsed this week in Genoa, two Italian newspapers reported on Friday. Autostrade per l’Italia, …

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Recovery Underway in New York Region Hit by Flash Flooding

Clean-up and recovery efforts continued Wednesday in several upstate New York counties where flash flooding damaged homes, vehicles and infrastructure from the Finger Lakes region to the Binghamton area. Tuesday’s pre-dawn downpours caused flash flooding that uprooted trees, inundated homes …

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Tighter Regulations in NYC Could Take Bite Out of Airbnb Profits

Airbnb faces tightening regulations in New York City that could take a big bite out of its profits, and on Wednesday the short-term rental company offered a counter-measure designed to appease hostile politicians: a $10 million contribution to charities. At …

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