Watch Out Insurtechs: Nationwide Readies Own Digital Auto Insurance Platform

Nationwide plans on striking hard against digital insurer upstart competitors with the debut of Spire, a digital auto insurance platform with an eye on millennial customers. Spire, which will be rolled out in the 2019 fourth quarter, centers around the …

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How Restaurant Employees Who Steal Learn From Their Peers

Plenty of workplace research shows that people with helpful, mentoring colleagues tend to be helpful and perform better themselves. Few researchers have looked at whether bad behavior spreads among workplace colleagues. But now, three researchers from Olin Business School at …

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At $20K a Year, Health Insurance Costs Undermine Job-Based Health Insurance

The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force …

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Wildfire Risk in Georgia Increasing Amid Southern Drought

The ongoing drought has made outdoor burning in Georgia more dangerous than previous years, state officials said. In the past three months, the Georgia Forestry Commission says firefighters have responded to – on average – about 41% more fires. Drought …

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North Carolina Jury Awards $8.3M in Excessive Force Suit

A North Carolina jury has ordered three law enforcement officials to pay $8.3 million for violating a man’s civil rights when they beat and shot him while he was driving on his own property six years ago. WRAL-TV reports the …

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New Orleans Restaurant Pays $55.2K for Labor Law Violations After Child Injured

A New Orleans restaurant has paid more than $55,000 after an investigation revealed it had violated multiple U.S. child labor laws by hiring a 13 year-old, who subsequently was severely injured at the workplace. The U.S. Department of Labor’s Wage …

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Arthur J. Gallagher to Acquire Michigan’s LSG Insurance Partners

Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Bloomfield Hills, Michigan-based LSG Insurance Partners. Founded in 1968, LSG Insurance is an independent insurance, risk management and consulting services agency. LSG offers a broad range of employee …

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Lloyd’s Reveals Blueprint to Build ‘Most Advanced Insurance Marketplace’

Lloyd’s of London has unveiled a blueprint for action to facilitate its Future at Lloyd’s project, which aims to “build the most advanced insurance marketplace in the world.” This first blueprint, called “Blueprint One,” sets out six ideas of improved …

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Exam Doesn’t Find Cause of California Dive Boat Fire

U.S. investigators who examined the burned-out wreckage of a scuba diving boat have not been able to determine what ignited a fire that killed 34 people off the California coast, a law enforcement official said Friday, but two inquiries are …

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Council Recommends $4B Plan to Safeguard Oregon from Wildfires

A task force created by Oregon Gov. Kate Brown says climate change, overstocked forests and understaffed fire teams have placed Oregonians in extreme risk, necessitating a multi-billion-dollar program to safeguard the state from calamity. The Statesman Journal reported the council …

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Study Examines California Workers’ Comp Hospital Inpatient Stays

The number of California workers’ compensation inpatient hospital stays fell 1.9 percent between 2017 and 2018, for a net decline of nearly 31 percent since 2010, a new study shows. A study from the California Workers’ Compensation Institute traces much …

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Former California Insurance Agent Arrested for Grand Theft

Ex-insurance agent Yolanda De La Torre, 35, of Whittier, Calif., was arrested on Friday on one felony count of grand theft and one felony count of identity theft after allegedly collecting over $13,000 in insurance payments from 10 clients and …

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EagleView Wins $125M Patent Infringement Award Against Verisk

A New Jersey jury last week ordered insurance data services firm Verisk to pay $125 million to aerial imaging firm EagleView for lost profits linked to Verisk infringing on various EagleView patents. The jury verdict in the U.S. District Court …

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New York Court Denies Industry Request to Delay E-Cigarette Ban

A state judge has denied the vaping industry’s request to delay a New York emergency ban on flavored e-cigarette sales. Acting state Supreme Court Justice Gerald Connolly on Friday refused to issue a temporary restraining order on the regulations approved …

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London Market’s Early Modernization Program, LM TOM, Is Being Wound Down

The Board of the London Market Group (LMG) announced that the London Market Target Operating Model (LM TOM) has been wound down in its current form, having delivered the majority of proposed solutions and are now in “run” mode, being …

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Massachusetts Man Indicted for $45K Insurance Fraud Scheme

A Salem, Mass., man was indicted in connection with a scheme to set up a shell company to fraudulently collect benefits under a long-term care insurance policy, Massachusetts Attorney General Maura Healey announced. Benjamin Johnson, 47, was indicted by a …

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Massachusetts’ EverQuote Hires Watt as Senior VP of Distribution Services

EverQuote Inc., a Cambridge, Mass.-headquartered, online insurance marketplace in the U.S., has hired Jay Watt as senior vice president of Distribution Services. In this role, Watt will focus on growing EverQuote’s marketplace and launching products to connect more insurance shoppers …

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Risk Strategies Acquires New York’s Bedrick-Kaitz Agency

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Bedrick-Kaitz Agency Inc. (BKA), a New York City-based firm focused on helping high-net-worth individuals and businesses throughout the country protect their assets. Terms of the deal …

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Swizerland’s Helvetia to Begin Underwriting Worldwide Aviation Insurance in October

Helvetia Specialty Lines CH & International announced it will begin writing aviation insurance in October. Helvetia’s aviation team will offer worldwide insurance coverage for passenger liability, third-party liability and comprehensive cover. Helvetia said it is concentrating on worldwide major accounts …

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Update on Lawsuits Targeting Vaping; Litigation Expected to Grow

Several deaths and potentially hundreds of illnesses tied to e-cigarettes, which allow users to inhale nicotine vapor, often flavored, without smoking, have been reported by U.S. health agency. Lawsuits on behalf of young consumers have been filed against e-cigarette maker …

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Insured Losses from Typhoon Faxai Estimated at US$5 Billion to US$9 Billion: RMS

RMS, the Newark, Calif.-based risk modeling and analytics firm, has estimated that the insured loss from Typhoon Faxai will be between $5.0 and $9.0 billion (¥ 500 to ¥950 billion). This estimate includes property damage and business interruption caused by …

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U.K. Embraces E-cigarettes, as U.S. Scrambles to Crack Down on Vaping

While the U.S. scrambles to crack down on vaping, Britain has embraced electronic cigarettes as a powerful tool to help smokers kick the habit. The Royal College of Physicians explicitly tells doctors to promote e-cigarettes “as widely as possible” to …

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Here’s How EU Officials Rate Chances of Brexit Deal – as Deadline Looms

It’s endgame time (again) on Brexit. A month before the U.K.’s scheduled departure, it seems to be anyone’s guess whether Prime Minister Boris Johnson will get a revised divorce deal with the European Union, ask for another postponement or defy …

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Wholesale Broker H.W. Kaufman Buys U.K. MGA and Cyber Specialist Node International

H.W. Kaufman Group, the Farmington Hills, Mich.-based wholesale broker and managing general agent, announced the acquisition of Node International, a U.K. managing general agent that specializes in cyber risk and technology-related insurance solutions. Financial details of the transaction were not …

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How Early Signs of Lung Effects of Vaping Were Missed and Downplayed

Scientists, regulators and e-cigarette proponents missed, ignored or downplayed signs that vaping could significantly damage the lungs for nearly a decade, a review of medical literature, government documents and interviews with doctors shows. At least 15 incidents of lung injuries …

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Strong E&S Premium Growth in Response to Weak Results; Top 15 E&S Writers: Fitch

Direct written premiums in the U.S. excess and surplus (E&S) lines market during 2018 grew at its greatest rate since 2012, increasing 11% and representing the eighth consecutive year of premium growth, according to Fitch Ratings. The trend continued its …

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Trump Signs Stopgap Funding for Government That Includes Flood Program

President Donald Trump has signed a continuing resolution that will avoid a federal government shutdown by funding the government at current levels until Nov. 21. The Republican-led Senate voted 82-15 in favor the temporary funding resolution last Thursday after the …

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Analysts See Senate Joining House on Marijuana Banking Law

A stronger-than-expected 321-103 vote in the House in favor of the Secure and Fair Enforcement Banking Act, which allows banks to service the cannabis industry, sets the stage for likely passage in the Senate, according to analysts. The push for …

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Lawsuit Says Colorado Railroad Ignited Fires Prior to Wildfire

A federal lawsuit says nearly 50 fires in Colorado were ignited by a railroad company in the weeks leading up to a major wildfire. The Durango Herald reported Tuesday that The Durango & Silverton Narrow Gauge Railroad caused the smaller …

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AXA XL Appoints Ex-Zurich Executive Longo as Country Leader, Italy

AXA XL Insurance announced the appointment of Saverio Longo as country leader, Italy. He will join AXA XL in November and will be based in Milan. He succeeds Simona Fumagalli, who was appointed head of International Financial Lines, Europe. In …

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Parametric Catastrophe Facility CCRIF Pays US$12.8M to Bahamas for Dorian Damages

CCRIF has made two payouts to the government of The Bahamas totaling US$12.8 million in the aftermath of Hurricane Dorian, which caused widespread destruction in the northern part of the archipelago. The Bahamas has three tropical cyclone policies and three …

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Munich Re Syndicate Labuan Promotes Ng to General Manager and Principle Officer

James Ng has been promoted to general manager and principle officer for Munich Re Syndicate Labuan Ltd. (MRSLab). Based in Kuala Lumpur, Malaysia, Ng will have overall responsibilities for the Labuan operations and its business activities and will report to …

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EU Loses Faith in PM Johnson’s Ability to Deliver Brexit Divorce Deal by Oct. 31

The European Union is rapidly losing faith that U.K. Prime Minister Boris Johnson can deliver a divorce deal by the Oct. 31 deadline, as Brexit talks stumble. EU officials view Johnson’s inflammatory rhetoric against his opponents as a hindrance and …

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AM Best Revises Outlooks to Positive for New Hampshire’s Concord Group

AM Best has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A (excellent) and the long-term issuer credit ratings (ICRs) of a+ for New Hampshire-based Concord Group. “The ratings of Concord Group reflect …

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Maryland’s B.F. Saul Insurance Hires Raphael as Senior Vice President

B.F. Saul Insurance Inc., a Bethesda, Md.-based insurance brokerage and risk advisory firm, hired Lanie Raphael as senior vice president on September 16, 2019. Raphael will be the practice leader for Personal Insurance Lines at B.F. Saul Insurance. Prior to …

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Maine’s The MEMIC Group Appoints Roberts as Senior Production Underwriter

Benjamin Roberts has been appointed as a senior production underwriter by workers’ compensation specialist The MEMIC Group to support continued growth in the Vermont market. Roberts, a native of Vermont, previously worked the territory with Acadia Insurance. The MEMIC Group …

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System Change to Cause Delay in Hearing Dates for Injured Iowa Workers

Injured Iowa workers seeking benefits from their employers are waiting longer to get their hearing dates as a state agency transitions to a new filing system. Iowa Workers’ Compensation Commissioner Joseph Cortese told lawmakers in a letter on Sept. 24 …

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Fire Destroys Planes at Small Airport in North Texas

Emergency officials say several airplanes have been destroyed in a hangar fire at a small airport in North Texas. Fire officials say no one was hurt in a blaze at Caddo Mills Municipal Airport, about 35 miles (56.32 kilometers) northeast …

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U.S. Private Flood Insurance: The Journey to Build a New Market

Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood coverage from admitted private insurers would never exist. …

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The Nitsche Group’s Castro Appointed to Board of Austin Contractors, Engineers Assoc.

Frank Castro, a producer at Giddings, Texas-based independent insurance agency, The Nitsche Group, has been elected to the Austin Contractors & Engineers Association’s (ACEA) board of directors as secretary/treasurer for the 2019-2020 fiscal year. The ACEA is a group of …

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Hotels in Nebraska City Scramble to Complete Repairs After Flooding

It’s been over two and one-half months since July 9 floodwaters inundated south Kearney’s hotel district and forced the closure of all but 600 of Kearney’s hotel rooms. Kearney Visitors Bureau Executive Director Roger Jasnoch has said there now are …

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Insurers Balk at Study Questioning Value of Municipal Bond Insurance

Around noon one Wednesday in July, two school districts from California’s Central Valley auctioned off their bonds to Wall Street underwriters. Both had the same credit rating. The deals were of similar size. They were being issued for the same …

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Vaping Now Linked to 12 Deaths, 805 Illnesses in U.S.

U.S. health officials on Thursday reported 805 confirmed and probable cases and 12 deaths so far from a mysterious respiratory illness tied to vaping, with the outbreak showing no signs of losing steam. Last week, the U.S. Centers for Disease …

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Local Officials from Across U.S. Pressure McDonald’s on Workplace Harassment Policies

Scores of local government officials from 31 U.S. states pressured McDonald’s Corp.’s on Thursday to do a better job of protecting workers from groping, obscene comments and other forms of sexual harassment, adding their voices to an employee-led campaign that …

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North Dakota Lawmakers Studying Pros, Cons of Recreational Pot

North Dakota lawmakers have begun studying the consequences of legalizing marijuana in the state, a move that comes amid a pair of proposed citizen-led initiatives that aim to make the drug legal for recreational use. Despite presentations from law enforcement, …

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South Carolina High School Arson Case Cracked After 23 Years by Fingerprint

A 40-year-old man was charged Tuesday with burning down his South Carolina high school more than 23 years after authorities say he set books and other papers on fire in the hallways. Daniel Scott Harris, 40 left his fingerprints in …

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1 Dead, Several Sick from North Carolina Legionnaires’ Outbreak

Health officials in western North Carolina say one person has died from Legionnaires’ disease and several others have been sickened. Kim Horton is a spokeswoman for the Henderson County Department of Public Health. She tells the Citizen Times one person …

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Cyber Insurer Coalition Expands Coverage to Businesses With Up To $1B in Revenue

Coalition, an cyber insurance company focused on small- and midsize-businesses, has expanded its cyber and technology errors and omissions coverage — previously only available to companies with less than $250 million in revenue — to include middle market companies with …

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McGriff, Seibels & Williams Adds Frist, Gupta to Financial Services Division in Atlanta

McGriff, Seibels & Williams has made two hires to its Financial Services Division in Atlanta. Lisa Frist has been added as a claims account executive. Frist joins McGriff with more than eight years of legal experience. Prior to joining McGriff, …

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Florida City Faces $200M in Repairs to Sewage, Water Line After Hurricane Michael

The biggest city devastated by Hurricane Michael last fall has had a recent series of sewage leaks, and local officials say it will cost more than $200 million to repair its sewage and water systems. Television station WMBB reports that …

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Imelda Blamed for Mass Release of Air Pollutants in Industrialized SE Texas

Flooding caused by Tropical Storm Imelda triggered the release of about 100,000 pounds (45,000 kilograms) of toxic air pollutants from chemical plants and refineries in Southeast Texas, state environmental records show. Industrial facilities are vulnerable when struck by storms like …

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Insurance Broker Acrisure Plans Michigan Expansion in Grand Rapids

Michigan Economic Development Corp. announced that Caledonia-based insurance broker Acrisure plans to invest $33 million in Grand Rapids to expand its future world headquarters in the western Michigan city. The project will include relocating 280 employees to downtown Grand Rapids …

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AI Specialist omni:us Awarded €1.6M from EU to Enhance Its AI-Powered Claims Platform

Artificial intelligence provider, omni:us has been awarded €1.6 million ($1.8 million) from the European Commission* to help it further develop its machine learning powered insurance claims platform. The grant to Berlin-based omni:us came from the commission’s European Innovation Council (EIC) …

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AIG Taps Eccles from Argo, Langdon from Chubb for Senior Global Specialty Roles

American International Group, Inc. announced the appointment of two senior leaders in its global specialty business. Steve Eccles will join AIG as global head of Aerospace, General Insurance. James Langdon will join AIG as UK head of Energy & Construction, …

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AXA XL, Accenture Partner to Provide Cyber-Security Services to AXA XL Clients

AXA XL and Accenture are partnering to offer global cyber-security expertise to AXA XL’s underwriters, brokers and clients to strengthen their cyber capabilities and recover from cyber attacks. AXA XL — AXA’s property & casualty (P&C) and specialty risk division …

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Everest Insurance Buys Remaining Shares of Canadian IT Consulting Firm Salus Systems

Everest Insurance announced it has purchased all outstanding remaining shares of its joint venture partner, Victoria, Canada-based Salus Systems LLC. Financial details of the transaction were not disclosed. An IT consulting firm and business solutions provider, Salus was founded in …

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Man Injured After Wall Collapses in New Hampshire Construction Accident

New Hampshire officials say a man was seriously injured after being pinned under a concrete wall in a construction accident. WMUR-TV reports Pelham fire and police officials were able to dig the unidentified man out by hand after a wall …

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Lawmaker Wants Rhode Island to Ban Flavored E-Cigarettes

A lawmaker in Rhode Island plans to introduce a bill to ban the sale of flavored e-cigarettes. Rep. Julie Casimiro says she’s planning to propose a ban after the new legislative session begins in January. She says the products need …

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Tractor Trailer Crash Forces Mandatory Evacuations in Upstate New York

About 80 homes were evacuated after a tractor trailer carrying compressed natural gas overturned on an upstate New York highway. Governor Andrew Cuomo says one person died after the trailer crashed north of Binghamton on Interstate 88 around 1 a.m. …

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Federal Agency Discusses Findings in Massachusetts Natural Gas Disaster

Federal officials are discussing their findings from a yearlong investigation into last September’s natural gas explosions and fires in Massachusetts. The National Transportation Safety Board met in Washington, D.C., on Tuesday to discuss and vote on its final report about …

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Oil from Capsized Cargo Ship Found Along Georgia Coast

Authorities say oil from an overturned cargo ship has reached several parts of Georgia’s shoreline, leaving a sheen in marshes and oiled debris on beaches. State and federal authorities overseeing the cleanup say crews have been working to clean up …

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Ocean Marine Insurers Face New Risks, Challenges in Changing Segment

Ocean marine insurance is the oldest line of insurance and today represents a small specialty line in the property/casualty insurance industry. Since those early days, marine products have evolved as risks and exposures have increased in both size and complexity. …

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ClearPath Mutual Hires Sellers as Production Underwriter in Tennessee

ClearPath Mutual Insurance Co. has appointed Kim Sellers as the company’s first production underwriter. Sellers will be based out of Burns, Tenn., and will handle agents in Kentucky and Tennessee. As production underwriter, Sellers is responsible for writing new business …

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U.N. Science Panel Warns Climate Impacts on Oceans Include Rising Seas, Dry Rivers

Scientists behind a landmark study of the links between oceans, glaciers, ice caps and the climate delivered a stark warning to the world on Wednesday: slash emissions or watch cities vanish under rising seas, rivers run dry and marine life …

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Judge Approves $54M Settlement in Duke University Hiring Lawsuit

A federal judge is closing a lawsuit that Duke University is settling over claims that it and nearby University of North Carolina conspired to hold down salaries of thousands of medical workers by not hiring staff away from each other. …

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RCV, ACV Policy Conditions Changes Are Coming, Texas Windstorm Insurer Says

The Texas Windstorm Insurance Association is alerting agents about an important, upcoming change to the policy conditions that determine how covered losses are settled. Current law says the type of loss settlement — replacement cost value (RCV) vs. actual cash …

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Chicago-Area Police Recover $1M in Goods Taken from Rail Cars

South suburban Chicago police say they’ve arrested five men in connection with the recovery of more than $1 million in goods stolen from rail cars. Markham police said the stolen goods were found in a storage facility. They say five …

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Ohio Workers’ Comp Bureau: 8 Fraud-Related Convictions Secured in August

The Ohio Bureau of Workers’ Compensation (BWC) reported it secured eight fraud-related convictions in August, bringing 2019’s total to 63. BWC assisted in the investigation that led to the Aug. 30 sentencing of nurse practitioner Amy Wood-Kirk of Grove City …

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AM Best Report: Credit Ratings of Farm Bureaus Remain Favorable

AM Best-rated farm bureaus within the U.S. property/casualty (P/C) insurance segment have experienced steady growth in net premiums written (NPW) in the past decade, unlike their life/annuity (L/A) counterparts, which have seen more premium fluctuation, according to a new AM …

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North Carolina Health Departments’ Invesigate Legionnaires’ Outbreak at Fair

Health departments in two North Carolina counties are looking into multiple cases of Legionnaires’ disease at the North Carolina Mountain State Fair. The N.C. Department of Health and Human Services said in a news release on Tuesday that it’s working …

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InsureTech Connect: Insurance Industry Needs to Understand What Business It’s In

LAS VEGAS — People who buy gasoline generally don’t care for the product or enjoy the experience of pumping gas: They just want to drive. Chris Colborn, chief experience officer for the Lippincott creative consulting firm, opened with that analogy …

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Boeing Vows New Safety Panel, Design Changes in Response to 737 Max Crashes

Boeing Co. aims to sharpen its focus on safety after the 737 Max’s grounding ends, forming a new oversight panel and recommending changes to the planemaker’s structure and design practices after two crashes that killed 346 people. The board’s new …

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Mutual Insurer Trade Group NAMIC’s CEO Chamness to Retire

The National Association of Mutual Insurance Companies announced that Charles Chamness, the chief executive officer of the organization, is retiring from the post he held for nearly 17 years. The official announcement came this week on the final day of …

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Crum & Forster Pet Insurance Group Expands Horse Program Into 6 States

Crum & Forster Pet Insurance Group has expanded its stand-alone, veterinary care insurance for companion horses to include six new states: California, Colorado, Connecticut, Kentucky, Oklahoma and Texas. Policies are underwritten by United States Fire Insurance Co. and produced by …

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PG&E Cuts Power to 48K California Customers to Avert Wildfire Risk

Pacific Gas & Electric cut power to 48,200 customers in seven counties in California’s Sierra Foothills and North Bay overnight because of high fire danger. The majority of those affected by the power outage, which took place around 2 a.m. …

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One Dead After Underground Tank Explodes at New York Gas Station

Authorities are investigating an explosion in an underground tank at an upstate New York gas station that killed a worker. State police say the explosion happened Friday afternoon at a Speedway station in the town of Dickinson in Broome County. …

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Massachusetts’ XS Brokers Announces New Executive Leadership Structure

XS Brokers (XSB), an independent insurance underwriting and wholesale brokerage group, has announced a new executive leadership structure. Eric Wirkus has been promoted to president, effective immediately. XSB Former President Adam Devine will become CEO. “The following changes come as …

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World Insurance Associates Acquires Maryland’s American Insurance Marketing

World Insurance Associates LLC (WIA) acquired American Insurance Marketing Corp. (AIMC) of Prince Frederick, Md., on September 1, 2019. Terms of the transaction were not disclosed. Founded in 1976, AIMC provides quality protection for thousands of individuals, families, businesses and …

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Risk Strategies Acquires New York’s Pro Safety Services

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Pro Safety Services LLC, a provider of safety and loss control services to construction companies, builders and a range of other industries. Terms of the deal …

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Apollo’s Insurer Unit, Athene Holding, Quietly Settles Harassment Case Against CEO

The allegations described a boss letting loose with profane tirades, sexist insults, racist comments, even physical intimidation. Purported incidents piled up for four years inside the sprawling investment empire of buyout mogul Leon Black, ending only when the accuser left …

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Tropical Storm Jerry Takes Aim at Bermuda, Just Days After Humberto’s Battering

Bermudians secured homes and businesses on Tuesday as they prepared for the arrival of Tropical Storm Jerry just a few days after Hurricane Humberto battered the archipelago and briefly knocked out power for most residents. Jerry is expected to pass …

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Broker Clements Worldwide Buys Dutch Financial Services Firm, The Financials

Clements Worldwide, a Washington, D.C.-based insurance broker for individuals and organizations who work across international borders, announced the acquisition of The Financials for an undisclosed amount. The Financials enhances Clements Worldwide’s presence in the Netherlands and expands its reach in …

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Uber Must Show London Regulator Its Drivers Are Insured, Trained for License Renewal

Uber Technologies Inc. has been granted a two-month license to operate in London as the ride-hailing app makes stuttering progress in winning over the city’s regulator. Transport for London had previously declined to grant Uber a private-hire license, but said …

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Insurers Continue to Cover Beach Resorts Despite Spate of Caribbean Hurricanes

Frenchman’s Reef, the largest resort on St. Thomas, was smashed by Hurricane Irma, which breached roofs, caved in walls and felled trees across the oceanfront property. Two years later, the hotel remains closed as its owner quarrels with insurers over …

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Insurers to Offer up to $5B in Capacity to Hike Developing Nations’ Climate Resilience

Insurers are partnering with the United Nations and other public groups to help the poorest countries bounce back from natural disasters that may become a more regular occurrence. As part of the program, as much as $5 billion in insurance …

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Chubb Names Hobson, Formerly with Aon, to New Flood Insurance Post

Insurer Chubb announced that Louis Hobson has joined the company as senior vice president of Flood Insurance for its North America operations. In this new role, Hobson will work in conjunction with Chubb’s personal and commercial lines of business, and …

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Marsh Pilots Blockchain-Powered Insurance Placement and Binding Process

Insurance broker Marsh is piloting a digital insurance placement platform that it says has the potential to let clients, carriers and its brokers share real time information and feedback on the placement and binding process. The platform, called Risk Exchange, …

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Rent Default Coverage Available to Real Estate Investors, Property Managers

Insurance broker Next Wave Insurance Services and industry veteran Aaron DiCaprio have collaborated to launch Rent Rescue, a rent default insurance product for real estate investors and property managers. Rent default insurance reimburses property owners for up to six months …

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U.S. Aviation Regulator Denies It Misled Congress on 737 Max Inspectors

American aviation regulators misled Congress about a whistle-blower’s allegation that many inspectors performing safety assessments on the now-grounded Boeing Co. 737 Max airplane weren’t properly qualified to certify pilots or assess pilot training, a government watchdog agency has concluded. The …

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Men and Women Respond Differently When Natural Disasters Strike, Researchers Say

Women are quicker to take cover or prepare to evacuate during an emergency, but often have trouble convincing the men in their life to do so, suggests a new University of Colorado Boulder study of how gender influences natural disaster …

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How U.S. Is Attempting to Manage Risk from ‘Insider’ Terrorist Threat in Aviation

The arrest of an airline mechanic suspected of being sympathetic with terrorists and charged with sabotaging a jetliner has renewed fear about the “insider threat” to aviation security. Despite security upgrades since the hijacking terror attacks of 2001, breaches including …

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Profitability Returning to D&O Liability as Rate Hikes Take Hold: Fitch

After being down, the U.S. directors and officers (D&O) liability insurance sector is looking up. Carriers are raising rates and restoring profitability, according to Fitch Ratings, after several years of flat premium growth and less favorable claims trends in a …

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Hurricane Florence, A Year Later: Many North Carolinian’s Lack Resources to Recover

Tanika Outlaw was working as the food and beverage manager at the Doubletree Hotel in New Bern last September when Hurricane Florence began shoving feet of water into the city’s downtown area. Ultimately, the storm flooded at least 4,325 homes …

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Policygenius to Open 2nd Headquarters in North Carolina, Create 377 Jobs in State

Online insurance platform Policygenius plans to open a new technical and operations center in Durham County, North Carolina, according to a statement from Governor Roy Cooper. Policygenius’ new location plan calls for the creation of at least 377 jobs over …

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Mississippi Woman Ordered to Pay $2M Over Car Crash Caused by Loose Donkey

A Mississippi woman whose loose donkey caused a fatal car crash has been ordered to pay more than $2 million in a wrongful death lawsuit last month. The Greenwood Commonwealth reports K.K. Henderson Kent was sued by Sandra Santos, whose …

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The Hanover Enters Vermont Personal Lines Insurance Market

The Hanover Insurance Group, Inc. has expanded its business in Vermont to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. According to The Hanover, the launch in Vermont …

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Thousands of Californians Face Power Shutoffs Due to Wildfire Risk

California utilities are warning that they may shut off electricity to thousands of customers across the state as hot, dry and windy weather raises the risk of another catastrophic wildfire sparked by a power line. PG&E Corp., forced into bankruptcy …

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Minneapolis Federal Reserve: With Floods Comes a Torrent of Data

One of the biggest problems with the Federal Emergency Management Agency’s flood insurance program is that, nationwide, few property owners actually choose to buy into it. But that’s not the case in many counties in the Federal Reserve’s Ninth District. …

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Texas Insurance Department’s New Division to Focus on Health Market

The Texas Department of Insurance has created a new division to focus exclusively on the complex issues facing health insurance and selected Richard Lunsford as the deputy commissioner of the new Life and Health Division. Previously, policy decisions related to …

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Iowa’s Holmes Murphy Acquires Global Captive Management

Waukee, Iowa-based Holmes Murphy, an employee-owned and controlled insurance brokerage, has expanded its footprint into the international space by acquiring Global Captive Management (GCM). GCM is no stranger to Holmes Murphy, specifically the Innovative Captive Strategies (ICS) subsidiary. GCM manages …

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Workers’ Comp Loss Costs to Drop 5% in Oklahoma Next Year

A 5.1% percent decrease in workers’ compensation insurance loss costs in Oklahoma for 2020 has been approved by Insurance Commissioner Glen Mulready, the state insurance department announced. Loss costs are the average cost of lost wages and medical payments of …

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Risk Strategies Adds Gabbard in Ohio to National Health Care Practice

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has appointed longtime health care industry veteran, Brad W. Gabbard, as a senior vice president to its national health care practice. He is based in Columbus, Ohio. Most …

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Travelers Gives Agents Aerial Property Damage Viewer to Helps Expedite Disaster Claims

Property/casualty insurer Travelers is now providing its insurance agents and brokers with before-and-after photos of areas affected by disasters. The Travelers Catastrophe Map Viewer provides access to searchable, high-resolution aerial images that are often available within one or two days …

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U.K. PM Johnson Vows to Exit EU (With or Without a Deal) After Historic Court Defeat

A defiant Boris Johnson vowed to force the U.K. out of the European Union with or without a deal next month, despite suffering an unprecedented legal defeat over his Brexit strategy from the highest court in the land. In a …

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Alaska Has This Year’s Most Expensive Wildfire in U.S.

The nation’s most expensive wildfire this year is one that has been burning for months on Alaska’s Kenai Peninsula. The Swan Lake Fire has so far cost about $46 million to fight, according to the National Interagency Fire Center in …

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Lloyd’s Culture Survey Reveals ‘Unacceptable’ Levels of Sexual Harassment

Lloyd’s announced the results of its culture survey, which was commissioned in March in the wake of press reports of rampant sexual harassment in the market. “I’m appalled to say that 8% of people told us they’d witnessed sexual harassment …

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Excess & Surplus Market Soars as Standard Carriers, Lloyd’s Drop Accounts

Demand for surplus lines insurance rose dramatically in 2018 and is continuing to expand this year, so much so that some in the sector are feeling a bit overwhelmed. The excess and surplus lines sector is enjoying its largest growth …

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Boeing 737 Fund Will Pay Crash Victims’ Families $145K Each

Boeing Co. will pay the families of 346 people killed in two fatal 737 MAX crashes $144,500 each from a $50 million financial assistance fund announced in July, the fund’s administrators said on Monday. The fund, overseen by Washington lawyers …

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Police Investigate $350K in Jewelry Thefts at Manhattan’s Trump Tower

Detectives are investigating the alleged thefts of about $350,000 worth of jewelry from residents in Manhattan’s Trump Tower. Police say the jewelry was stolen from inside two apartments in the building where U.S. President Donald Trump owns a penthouse triplex. …

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Investigators Wrap Up Work at Explosion Site in Maine

The Maine Fire Marshal’s Office has finished its work at the site of a deadly explosion in Farmington, but isn’t ready to release any conclusions. Maine Public Safety Department spokesman Steve McCausland said investigators turned the scene over to its …

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Massachusetts’ Activer Solutions Hires Cassata as Assistant Vice President

Activer Solutions, a Marlborough, Mass.-based provider of business process outsourcing to the property and casualty insurance industry, has hired Cindy Cassata as assistant vice president of Product Solutions and Design. This new role will focus on developing and deploying the …

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Risk Strategies Appoints Gabbard as Senior Vice President to Health Care Practice

Risk Strategies, a Boston, Mass.-headquartered, privately held insurance brokerage and risk management firm, has appointed health care industry veteran Brad W. Gabbard as a senior vice president to its national health care practice. Most recently, Gabbard was an executive vice …

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Allianz, MS&AD, Other Suitors in Race to Buy Aviva’s Asia Units for Up to $2.5B: Sources

German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain’s Aviva in a deal likely to be worth up to $2.5 billion, sources said. Canada’s Sun Life Financial is …

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Many Major Central Banks, Minus U.S. Fed, Taking Action on Climate Change Risks

Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” …

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BHSI Opens Office in Spain, Names Almazan from RSA as Country Manager

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has further expanded its global footprint, opening a new office in Madrid, naming Ignacio Almazan as country manager for Spain. BHSI will initially underwrite property, casualty, financial lines, construction and engineering insurance, …

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Travelers to Transfer European Business to Dublin Subsidiary in Preparation for Brexit

Travelers Insurance Co. Ltd., the U.K. subsidiary of The Travelers Cos., has received approval from the High Court of England and Wales to transfer the portfolios of all relevant in-force policies and historic liabilities written out of its Irish, French, …

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Rethinking the Limits of Parametric Insurance

It’s time to rethink the limits of parametric insurance. The concept behind parametric insurance is not new. Insurance payouts automatically triggered by an event exceeding an index level have existed for decades. It’s traditionally been applied to events like natural …

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Monarch E&S Insurance Services Opens Florida Branch

Monarch E&S Insurance Services, a division of SPG Insurance Solutions, a full-service MGA and wholesale broker, has opened a new branch in Florida. The new branch is part of the company’s plans to expand its reach nationwide. The Southeast branch …

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How Medical Community Can Overcome Error of Its Ways in Opioids and Vaping: Opinion

When the medical community makes mistakes, it’s like shooting down a few hundred airplanes every year. That’s a dramatic metaphor that has stuck in my mind since I first heard it from a doctor, and an apt way to describe …

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Canal Insurance Co. of South Carolina Appoints Rzepinski CFO

Canal Insurance Company’s board of directors has approved the addition of John Rzepinski to its senior leadership team as senior vice president, chief financial officer and treasurer, effective Sept. 16, 2019. Rzepinski most recently served as the CFO of CapSpecialty, …

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CAC Specialty Names Former Aon, JLT Specialty Executive Rice as CEO

Newly-launched specialty insurance broker CAC Specialty announced the appointment of Michael D. Rice II as its chief executive officer. Rice brings years of experience in the brokerage industry. Most recently, he served as the founding CEO and executive chairman of …

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2 Vaping Sellers Settle Suit in Los Angeles for $350K, Won’t Sell to Minors

Two vaping companies have agreed not to promote their products to minors under a settlement with Los Angeles prosecutors. The city attorney’s office announced a lawsuit settlement Friday with NEwhere Inc. and VapeCo Distribution LLC. The LA-based companies also will …

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Dive boat, Ghost Ship Fires in California a Lesson in Proving Negligence

One was a ship in name only, an artist commune set up in an Oakland warehouse. The other was a bona fide boat afloat on the ocean off Santa Barbara. Both became fiery death traps for a combined 70 souls, …

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Bus in Utah With Chinese-Speaking Tourists Crashes in, Killing 4

A tour bus crashed on a highway running through the red-rock landscape of southern Utah on Friday, killing four people from China and injuring dozens more. The bus from Southern California rolled onto a guard rail, crushing its roof and …

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AM Best Revises Outlooks to Negative for Quincy Mutual Group Members

AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A+ (superior) and the long-term issuer credit ratings of aa- for the members of Quincy Mutual Group. The group includes the lead company, …

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Hub International Acquires Pennsylvania’s WhartonHill Advisors

Hub International Limited, a global insurance brokerage, has acquired certain assets of WhartonHill Retirement Services LLC, Strategic Planning Resources Inc. and Karen McCloskey, collectively doing business as WhartonHill Advisors. Terms of the transaction were not disclosed. Located in Ft. Washington, …

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Arthur J. Gallagher & Co. Acquires Pennsylvania’s Allied Insurance Brokers

Arthur J. Gallagher & Co. has acquired Pittsburgh, Penn.-based Allied Insurance Brokers and its subsidiary, Ascinsure Specialty Risk. Terms of the transaction were not disclosed. Founded in 1982, Allied Insurance Brokers specializes in offering insurance and risk management services to …

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‘Putrid’ Smell of Carcasses Over Newark Prompts New Jersey Lawsuit

Newark – part of it, anyway – stinks. Residents of New Jersey’s largest city have been complaining about the stench of carcasses emanating from Darling Ingredients Inc.’s rendering plant, which turns animal byproducts and grease into feed and fuel. It’s …

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Airlifting Drugs to Doorstep: Walgreens, Google’s Wing Testing Drone Deliveries

Walgreens and a Google affiliate are testing drone deliveries that can put drugstore products on customer doorsteps minutes after being ordered. Snacks like Goldfish Crackers or gummy bears as well as aspirin for sick kids will be delivered starting next …

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C3 Risk & Insurance Services Acquiring Mission West in California

C3 Risk & Insurance Services has acquired Mission West Insurance, an Orange County, Calif.-based insurance brokerage. Terms of the deal were not disclosed. Mission West is an independent agency offering business, personal and employee benefits insurance services. C3 is a …

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U.K. Travel Insurer Saga Secures Flights for Clients Hit by Collapse of Thomas Cook

Saga Plc said on Monday it was securing alternative flights, where possible, for customers who are due to travel imminently and have been impacted by the collapse of Thomas Cook. The over-50s tourism and insurance firm said in an email …

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Swiss Re Corporate Solutions Appoints Semprini from HDI Global as Head Italy

Swiss Re Corporate Solutions has appointed Francesco Semprini as head Italy, effective Nov. 1, 2019. Based in Milan, Semprini will be responsible for managing the strategy, development and performance of Swiss Re Corporate Solutions’ business in Italy. Semprini has more …

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Dangers of Booming Securitized Loan Market Highlighted by Bank for Int’l Settlements

Lending standards in the rapidly growing loan market are deteriorating and complex financial products that mask risks to banks have parallels with the run-up to the 2008 financial crisis, the Bank for International Settlements warned on Sunday. The number of …

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Bellomi to Replace Semprini Who Will Step Down as HDI Global’s Head of Italy Branch

HDI Global SE announced that Francesco Semprini, the long serving managing director of its Italy branch is leaving the company on Oct. 31 at his own request to take a role outside the group. He will be succeeded by Alberto …

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Typhoon Tapah Disrupts Flights in Japan and South Korea

Hundreds of domestic flights in Japan were canceled because of Typhoon Tapah, and the storm caused similar disruptions in South Korea as it moved to make landfall later Sunday. Airlines operating in Japan called off more than 420 domestic flights …

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Brazil Police Accuse Mining Firm Vale, Auditor of Fraud Related to Deadly Dam Collapse

Brazilian federal police proposed criminal charges against Vale SA, auditor TÜV SÜD and 13 of their employees, alleging fraud in relation to a deadly dam collapse in January, according to a document seen by Reuters on Friday. Federal police accused …

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Good Leaders Challenge the Status Quo—and Themselves: SCOR’s Conoscente

Jean-Paul Conoscente became the CEO of SCOR Global P&C in April 2019 when his predecessor, Victor Peignet, retired after 35 years with the company. Before Peignet left the company, he offered Conoscente a sage piece of advice about taking a …

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Staying Profitable in an Increasingly Fragmented World: SCOR Global P&C CEO

There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions Conoscente, who became the CEO of SCOR …

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Commercial Lines Insurtech Bold Penguin Raises $32 Million in Latest Round

Bold Penguin, a Columbus Ohio commercial insurance technology provider, said it has completed a $32 million Series B funding round, bringing the total capital it has raised to more than $50 million since it started in 2016. The participation included …

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Music Copyright Law in Search of New Standard for Infringement

Willie Nelson has famously said a country song is “three chords and the truth.” It might not be so simple anymore. A flood of lawsuits is threatening to upend that concept, making trivial similarities in songs the basis for a …

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Judge Allows Tesla Investor’s Claim Over Musk’s ‘Extraordinary’ $56B Performance Pact

A Delaware state judge has rejected a request by the board of Tesla Inc. to dismiss a stockholder complaint over an “excessive” 2018 performance award to CEO Elon Musk. In the spring of 2018, shareholders of the electric car-maker approved …

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How Communities Are Trying to Adapt to Growing Wildfire Threat

Unless it’s Sunday, Kelly Loew is steering her rusty red Jeep down the same mail route in Shingletown, as she has six days a week for the last seven years. But she delivers less mail these days as California’s persistent …

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House OKs Government Stopgap Funding That Extends Flood Insurance Until Nov. 21

The Democratic-controlled House of Representatives last week passed a continuing resolution to extend federal government funding through Nov. 21 and avoid a government shutdown at the end of the month. The bipartisan vote of 301-123 saw three Democrats vote no …

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EPIC Adds Beazley’s Bejean to Georgia-Based Greyling Division

EPIC Insurance Brokers and Consultants has added Lionel Bejean to the firm’s Greyling Division, based in Alpharetta, Ga., as senior vice president. In his new position, Bejean will be responsible for serving the risk management, professional liability and property/casualty insurance …

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Essary Out as Executive Director of Texas Surplus Lines Stamping Office

The Surplus Lines Stamping Office of Texas (SLTX) board of directors announced that SLTX Executive Director Norma Essary will separate from employment, effective Oct. 17, 2019. The board voted Sept. 17 to relieve Essary of her duties. Essary will be …

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Transgender Man Can Sue Catholic Hospital Over Hysterectomy

A California transgender man can go ahead with a discrimination lawsuit against a Catholic hospital that canceled his hysterectomy, an appeals court ruled Tuesday. The decision by the 1st District Court of Appeal in San Francisco overturns a lower court …

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California Now Looking for Ways to Preserve Environmental Clout

The Trump administration’s decision to stop California from setting its own emission standards for cars and trucks would undermine the state’s ability to convince the world’s largest automakers that they should make more environmentally friendly vehicles. “We will not let …

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Starr Promotes Puffer and Geoghean in the Western U.S.

Starr Insurance Cos. announced leadership promotions and a new structure for its Western sales region. Starr’s Western region sales operation has been split into two units, Pacific Northwest and Southwest, and two new leaders have been named to head these …

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Massachusetts Man Indicted in Connection with $110K Workers’ Comp Fraud Scheme

A Worcester, Mass., man who operated a temporary employment agency was indicted in connection with a scheme to evade more than $110,000 in workers’ compensation premiums, according to a press release issued by Massachusetts Attorney General Maura Healey’s office. Sovane …

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The Institutes RiskStream Collaborative Hires Brown in Pennsylvania

The Institutes RiskStream Collaborative has hired Kenneth Brown as head of Security and Controls in its Malvern, Penn., office. As an insurance industry blockchain consortium, RiskStream Collaborative aims to serve policyholders and help lower industry and consumer costs by streamlining …

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Hub International Acquires New York’s EPIC Retirement Services Consulting

Hub International Limited, a global insurance brokerage, has acquired the assets of EPIC Retirement Services Consulting LLC. Terms of the transaction were not disclosed. Located in New York, N.Y., EPIC is an independent investment consulting firm specializing in 401(k), 403(b) …

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Alliant Insurance Services Hires Riley as Vice President in New York

John Riley has joined Alliant as vice president within the firm’s White Plains, N.Y., office. As part of the firm’s growing Northeast property and casualty team, Riley will service a diverse portfolio of clients with operations in the Northeast and …

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Aviation Industry Braces for Double-Digit Premium Hikes After 737 MAX Groundings

The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co.’s 737 MAX jets following two fatal crashes, …

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Sectors Under Pressure, Such as Insurance, Remain Private Equity Targets: Apollo Exec

Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and profit from, especially away from the public markets. “Certainly, this is not a value-oriented environment,” said Harris, senior managing director of Apollo Global Management, …

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African Swine Fever Spreads in Philippines

Blood samples from pigs in backyard farms in the Philippine capital Manila tested positive for African swine fever, the Department of Agriculture said on Friday, less than two weeks after it declared the country’s first outbreak of the disease. The …

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Generali Launches U.S. Specialty Insurance Division, Focusing on Warranty Services

Generali US Branch, the U.S. arm of Generali Group, announced the launch of its Specialty Insurance Division, which will focus on providing warranty services and solutions. The Specialty Insurance Division will provide both insurance and obligor services for warranty programs …

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Pilot Chuck Yeager, Who Broke Sound Barrier, Sues Airbus for Trademark Infringement

Chuck Yeager, the retired U.S. Air Force pilot who broke the sound barrier, has sued Airbus SE, accusing the aerospace company of using his name and likeness without permission to promote a new high-speed helicopter. In a complaint filed on …

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France’s CNP Assurances Reaches Bancassurance Deal with Brazil’s Caixa Worth $1.7B

France’s CNP Assurances SA has reached a deal worth 7 billion reais ($1.7 billion) with Caixa Economica Federal to sell insurance in the bank’s more than 3,000 branches, the Brazilian state-owned lender said on Thursday. Earlier on Thursday, Reuters reported …

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Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail

By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer is set to …

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Bermuda’s Brit Re Gets ‘A’ Rating from AM Best as Firm Prepares to Write Casualty Treaty

AM Besthas assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Brit Reinsurance (Bermuda) Ltd. The outlook assigned to these credit ratings is stable. The ratings reflect Brit Re’s balance sheet strength, …

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Hurricane Humberto Grazes Bermuda, Causing Little Damage

Cleanup crews in Bermuda were busy at work on Thursday after Hurricane Humberto grazed the island, which escaped major harm despite winds that reached around 100 miles per hour (161 kph) snapping power poles and lifting off roofs. Debris including …

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AXA Liabilities Managers Buys Non-Life Legacy Portfolio of Munich Re Malaysia

AXA Liabilities Managers announced it has completed the acquisition of the non-life legacy portfolio of Munich Re Malaysia (a branch of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in Munich). The portfolio transfer will become effective on October 1, 2019. Financial details of the …

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Marsh’s Torrent Technologies Expands Private Flood Coverage for Small Businesses

Torrent Technologies, a Marsh company, has launched FloodPlus Commercial – a comprehensive private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients. Underwritten by Bermuda-based Hiscox through Johnson & Johnson, Inc., a Mount Pleasant, …

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Florida Governor Wants Stiffer Fines for Cities That Pollute

Florida Gov. Ron DeSantis will ask the Legislature to increase fines for local governments that pollute state waters and give the Department of Environmental Protection more power to enforce pollution laws. DeSantis announced his proposal Sept. 11 at the Conservancy …

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South Carolina Farmers Say Crops In Danger as Drought Grows

Many farmers in South Carolina say a growing drought is threatening to devastate their crops right at harvest time and officials said there are plenty of indications the dry weather will spread. A special committee that reviews drought in the …

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Nearly $80K in Wigs Stolen from South Florida Warehouse

Police in South Florida say thieves stole up to $80,000 in merchandise from a wig warehouse. The owner of Prime Trading Hair and Wigs told detectives in Miami Gardens that he was notified overnight Tuesday that the alarm at the …

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Federal Settlements in South Dakota Wildfire Total More Than $700K

Landowners in South Dakota have received over $700,000 in a lawsuit accusing a federal agency of burning their properties in an April 2013 prescribed fire that blazed out of control, destroying more than 10,000 acres. The U.S. Forest Service aimed …

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Arkansas Plant Board Approves New Rules for Dicamba Use in 2020

An Arkansas panel has approved new rules for the use of an herbicide that has drawn complaints from farmers who say it has drifted onto their crops and caused damage. The Plant Board has approved an amended rule for the …

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Agencies Form Venture to Accelerate, Invest in Insurtech Startups for Agents, Brokers

Six insurance agencies from across the country have joined together to form a program specifically for investors and innovators behind technology innovations for insurance agencies and brokerages. The new entity, BrokerTech Ventures, aims to invest in the research and testing …

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Insurance Highway Institute Gives Tesla’s Model 3 Top Safety Rating

Tesla Inc.’s Model 3 electric sedan has earned the top safety rating from the Insurance Institute of Highway Safety (IIHS), becoming the first Tesla to do so. The IIHS has given the Model 3 its highest rating, top safety pick+. …

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California Retailer to Pay $1.2M to Settle Sex-Assault Claims

A Northern California store as agreed to pay $1.2 million to settle claims that a supervisor sexually assaulted employees in a walk-in freezer. The California Department of Fair Employment and Housing announced a settlement this week with 99 Cents Only …

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Idaho Insurance Agent Fined $46K for Submitting Unauthorized Applications

The Idaho Department of Insurance revoked the insurance producer license of Bryce Joseph Vance for violations of the Idaho Insurance Code and imposed an administrative penalty of $46,000. Vance was charged and admitted to violations of Idaho Code, Title 41, …

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Group Says FEMA’s Flood Home Buyouts Take Too Long

For those who want to move out of a flood zone, the wait time for a home buyout can stretch five years or more, according to the Natural Resources Defense Council (NRDC), which analyzed nearly 30 years of data from …

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Lloyd’s to Open Miami Office to Expand Its Latin American and Caribbean Business

Lloyd’s plans to set up an office in Miami to support business development in the Latin American and Caribbean markets. “Latin America is a key market for Lloyd’s, with premium close to US$1.5 billion,” said Daniel Revilla, regional head, Latin …

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JGS Insurance Acquires Maryland’s John Manougian Insurance Agency

Jacobson, Goldfarb & Scott Inc. (JGS Insurance) has acquired the John Manougian Insurance Agency (JMI) located in Silver Spring, Md. Following the acquisition, JMI Founder John Manougian will remain as a consultant, while Chris Manougian and Robin Manougian will serve …

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U.S. Consumer Agency Says Financial Complaint Database to Remain Public

The top U.S. consumer watchdog will keep consumer complaints against financial firms public despite pressure from the companies, but the agency said on Wednesday it will make changes to the way those complaints are filed. The decision to retain the …

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New Jersey Governor Phil Murphy Signs Executive Order on Gun Safety

New Jersey Governor Phil Murphy has signed Executive Order No. 83, directing the New Jersey Department of Treasury, the Division of Purchase and Property, and the New Jersey Department of Banking and Insurance to promote responsible gun safety practices for …

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Delaware Woman Indicted for Insurance Fraud Following Motor Vehicle Accident

A Delaware woman has been indicted by a Sussex County Grand Jury for two counts of insurance fraud and one count of identity theft following an investigation by the Delaware Department of Insurance Fraud Prevention Unit. Janet Lane, 59, formerly …

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World Insurance Associates Acquires Rhode Island’s Bucci Insurance Group

World Insurance Associates LLC (WIA) acquired Bucci Insurance Group of West Warwick, R.I., on September 1, 2019. Terms of the transaction were not disclosed. Founded in 1981, Bucci Insurance Group serves the New England community with personal, commercial and benefit …

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Markel Hires Slade from Hamilton Capital as President of Its New ILS Fund, Lodgepine

Markel Corp. announced it has hired Brenton “Brent” Slade as president of Lodgepine Capital Management Ltd., its new retrocessional insurance linked securities (ILS) fund based in Bermuda. Slade comes to Lodgepine from Hamilton Capital Partners, where he had been senior …

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Arch Insurance (UK) and Marsh Launch ‘Blue Vault,’ Insurance Cover for Digital Assets

Arch Insurance (UK) Ltd., in collaboration with Marsh, the insurance broker and risk adviser, announced the launch of Blue Vault, a new solution to provide insurance protection for the secure storage of digital asset private keys held in traditional vault …

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Atlantia CEO Resigns 13 Months After Fatal Genoa Bridge Collapse

Atlantia SpA Chief Executive Officer Giovanni Castellucci resigned as leader of the Benetton family infrastructure unit, 13 months after a fatal bridge collapse in Genoa sparked an investigation into maintenance practices. Castellucci, who spearheaded Atlantia’s transformation into the world’s biggest …

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As Brexit Fatigue Grows, the Political Will to Prevent No-Deal Exit Is Evaporating

Brexit from afar is looking like a disaster about to happen. One European official, watching the situation up close, compared it to two cars driving at high speed toward each other with each expecting the other to swerve out of …

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How Pharmacies Are Resisting Amazon’s Attempt to Corner Their Business

Getting into the pharmacy business was easy for Amazon.com: It paid $753 million to buy the mail-order startup PillPack. The hard part has been prying patients away from their local drugstore. Since being acquired by the internet giant, PillPack has …

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Nationwide’s Digital Storefront Targets Small Business Market

Nationwide said it has formally launched a commercial insurance digital storefront targeted to small businesses. Small business owners will be able to use the site online directly to generate a quote and bind a policy, or do the same thing …

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BHSI Taps Executives from AIG and AXA XL as Claims & Product Line Leaders in France

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its leadership team in France, naming Katell Pouliquen as head of Claims, Louis du Ché as head of Property and Ludovic Ruiller as head of Environmental. With more than 15 years …

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Comedian Sacha Baron Cohen Asks Judge to Dismiss Roy Moore Defamation Suit

Comedian Sacha Baron Cohen asked a federal judge to dismiss Roy Moore’s defamation lawsuit over a television segment that lampooned Moore in the wake of sexual misconduct allegations. Lawyers for Baron Cohen, Showtime Networks and CBS wrote last week in …

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Hurricane Humberto Knocks Out Power Lines, Plunging Bermuda into Darkness

Hurricane Humberto knocked out power lines in Bermuda on Wednesday night, plunging nearly the whole Atlantic archipelago into darkness, as the storm whipped the British territory with powerful winds and heavy rain. Even as Hurricane Humberto was moving away, Miami-based …

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Damaged Barge Removed After Spilling 117K Gallons of Oil in Mississippi Waterway

Crews have removed a damaged barge that spilled oil from Tennessee-Tombigbee Waterway in northeast Mississippi. U.S. Coast Guard Lt. David Schneider tells WTVA-TV that the Jamie Whitten Lock remains closed as cleanup continues and the barge’s cargo is removed. The …

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Spencer Educational Foundation Taps Miller for New Executive Director Position

The Spencer Educational Foundation announced the addition of Megan Miller as executive director, a new position. Miller will oversee the foundation’s day-to-day operations including the administration of grants, the Risk Manager in Residence program for universities, and the scholarship and …

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California Spending $20M on Campaign to Warn Public of Vaping Dangers

California will spend $20 million on a public awareness campaign about the dangers of vaping nicotine and cannabis products and step up efforts to halt the sale of illicit products amid a rise in vaping-related illnesses. Democratic Gov. Gavin Newsom …

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Cover in California Names Mercury’s Houlihan Chief Insurance Officer

Cover in San Francisco, Calif., has named Robert Houlihan chief insurance officer. He becomes part of the management team in the company’s U.S. headquarters. Houlihan has more than 20 years of industry experience. He joins Cover following positions at Progressive …

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PG&E Tells Fire Safety Critics Utility is Going Beyond Call of Duty

PG&E Corp. sought to assure a judge it’s making progress on fire prevention, saying it’s exceeding regulatory requirements to clear vegetation from power lines. Kevin Orsini, a lawyer for the utility, on Tuesday acknowledged criticism from a court-appointed compliance monitor, …

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New York Moves to Enact Statewide Flavored E-Cigarette Ban

New York Governor Andrew Cuomo is pushing to enact a statewide ban on the sale of flavored e-cigarettes amid growing health concerns connected to vaping, especially among young people. The Democrat announced Sunday that the state health commissioner would be …

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Hub International Acquires Assets of New York’s StoneStreet Pearl River

Hub International Limited (Hub), a global employee benefit and insurance brokerage firm, has acquired the assets of StoneStreet Pearl River LLC. Terms of the transaction were not disclosed. Based in Pearl River, N.Y., and led by Barbara Delaney, StoneStreet is …

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Americans, Businesses Failing to Act on Cyber Risk Concerns, Chubb Survey Finds

When it comes to cybersecurity, Americans and American businesses say they are concerned, but many are not taking the preventative steps needed to protect themselves from a cyber attack. According to Chubb’s Third Annual Cyber Report, complacency seems to have …

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Saxe Doernberger & Vita P.C. Hires Crawford to Northeast Office

Saxe Doernberger & Vita P.C. (SDV) has hired Associate Janet E. Crawford to its Northeast office. Crawford brings experience from a career in litigation to her new role. In addition to insurance coverage, she has worked on a range of …

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Conner Strong & Buckelew Hires Trullinger, Keating in New Jersey

Conner Strong & Buckelew, an insurance, risk management and employee benefits brokerage and consulting firm, has hired Thomas Trullinger as senior vice president of Mergers and Acquisitions. He will be based in the firm’s Camden, N.J., headquarters. In this role, …

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FAA Invites Global Regulators to Meet Over Boeing 737 Status

Federal Aviation Administration chief Steve Dickson has invited about 50 aviation safety regulators from around the world to an informal briefing in Montreal next week on the status of the grounded Boeing 737 MAX, according to an email seen by …

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Business Leaders Spend Less Than 1 Day a Year Focusing on Cyber Risk: Marsh Survey

A majority of busy board members and senior executives, who are responsible for their organization’s cyber risk management, spent less than a day in the last year to focus on cyber risk issues, according to a new report published by …

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Risk of No-Deal Brexit Is Now ‘Palpable,’ Says EU’s Juncker

European Commission President Jean-Claude Juncker said on Wednesday that the risk of a no-deal Brexit on Oct. 31 is now “palpable,” sparking a drop in the pound. Juncker, speaking to the European Parliament in Strasbourg, France, after a meeting with …

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Lloyd’s Expects ‘Sobering’ Results from Survey of Workplace Culture

Lloyd’s of London expects “sobering” results from a survey of the workplace culture at its member firms, the insurance market’s chairman said on Wednesday as a rise in investment income drove a four-fold profit rise. In May the 330-year old …

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Lloyd’s Names Sansom Chief Risk Officer, Announces Departure of Chief People Officer

Lloyd’s announced that David Sansom has been confirmed as chief risk officer, subject to regulatory approval. Sansom’s remit includes all areas of risk management within the Corporation of Lloyd’s as well as oversight for market-level risks. He also manages Lloyd’s …

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Lloyd’s Returns to Profit in 1st Half After 2 Full Years of Losses

Lloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses. The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds ($2.8 billion) in the first six months …

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BNP Broker Wins Sex Discrimination Lawsuit, Highlighting Unequal Pay, Laddish Culture

A broker at BNP Paribas SA who complained about being paid less than male colleagues won her employment suit after a London judge ruled that she suffered sexual discrimination. Stacey Macken, a prime brokerage product manager who still works at …

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As Legacy Acquisitions Boom, What Will Happen to Deal Pricing?

Activity in the legacy insurance market has boomed. However, as capital pours in, perhaps it is best to understand how pricing will develop in the space and whether increased capital will drive price deterioration. For a start, it is widely …

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Insurtechs Poised to Challenge Traditional Home Insurers: J.D. Power

Traditional home insurers appear to be in need of an image change, and that, in turn, could create a big opportunity for insurtech startups, according to the latest J.D. Power U.S. Home Insurance study. Approximately 74 percent of their customers …

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Gays’ Job Rights at Stake in Upcoming Supreme Court Cases

Gerald Bostock says he’s convinced his participation in a gay softball league was why he was fired from his job running the child-advocate program at the juvenile court in Clayton County, Georgia. The Atlanta-area county’s decision sent “a homophobic message …

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New Hog Slaughterhouse Rules Please Firms, Worry Food Safety Advocates

U.S. food safety and the health of plant workers will be at risk from new federal rules that allow meat companies to slaughter hogs as fast as they want and shift the role of government inspectors, food and environmental advocates …

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Southern Fidelity Insurance Recruiting New Agents in Mississippi

Southern Fidelity Insurance Company, a regional insurance company serving consumers throughout the Southeast, is looking to recruit local agents in Mississippi after expanding into the state in July. The company, which has been doing business since 2005, said it is …

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Georgia Man Accused of Faking Burglary to Business for Insurance Payout

A man trashed his pizza restaurant and ice cream shop near Atlanta to fake a racially motivated burglary so he could file an insurance claim, police said. Gwinnett County police officers responded just before 9:30 p.m. on Sept. 11 after …

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Chubb Personal Auto Service Protects Insured Info for Total Loss Vehicles

Chubb has launched a new service designed to help personal auto clients remove sensitive electronic information from their vehicles in the event of an insured total loss. “While hands-free GPS and mobile connectivity has made driving more convenient and safer, …

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Iowa’s Global Insurance Accelerator to Host 17 Firms for InsurTech Week 2019

The Global Insurance Accelerator (GIA), a Des Moines, Iowa-based InsurTech accelerator focused on innovation for the insurance industry, says 17 companies will participate in its fifth annual InsurTech Week, being held Oct. 14-18. Designed to amplify the industry outreach and …

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Prime Minister Johnson’s Brexit Plan Goes to Court as Latest EU Talks End in Failure

Boris Johnson’s Brexit strategy has been on trial ever since he became prime minister eight weeks ago, and on Tuesday his lawyers will defend it in the U.K.’s highest court. Fresh from being lambasted by a fellow European leader after …

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Synthetic Marijuana Sold as CBD in Los Angeles, Tests Show

An Associated Press investigation shows a dark side to booming sales of the cannabis extract CBD. Some people are substituting cheap and dangerous street drugs for the real thing. As part of the investigation, a reporter in Los Angeles purchased …

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CopperPoint Acquires Alaska National Insurance Company

CopperPoint Insurance Cos. has agreed to acquire Alaska National Corp. and its wholly owned subsidiary Alaska National Insurance Co., an Alaska-domiciled workers’ compensation and commercial insurance carrier. The transaction is expected to close once customary regulatory reviews and approvals are …

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Feds Investigating How U.S. Olympic Boards Handled Sex Abuse Claims

Federal investigators are looking into the way the U.S. Olympic and Paralympic Committee and national governing bodies of Olympic sports handled sex-abuse allegations, people with knowledge of the investigations told The Associated Press. The probes, first reported by The Wall …

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Here’s How Aon’s New Reinsurance Auction Works

The broker Aon plc has launched an auction capability for the Jan. 1, 2020 reinsurance renewals, which is designed to provide additional options for insurer clients by reducing the timeframe around pricing negotiations while providing contract certainty to secure pricing …

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Smart Insurance Forms Platform Broker Buddha Raises $4.5 Million

Broker Buddha, a company that simplifies the commercial insurance application and renewal process, announced a $4.5 million funding round led by Vertex Ventures. Broker Buddha’s technology converts PDF insurance applications into user-friendly interactive smart forms. It also offers a web …

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AssuredPartners Acquires Connecticut’s Alton E. Woodford Insurance Agency

AssuredPartners Inc. has acquired Alton E. Woodford Insurance Agency Inc., located in West Hartford, Conn. The team of nine will remain under the operational leadership of Tallison Noble and Nerissa Smith following the acquisition. Headquartered in Lake Mary, Fla., and …

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Fairmatic Bets On Driver-Driven Premium Adjustments to Score in Commercial Auto

Managing general agent (MGA) Fairmatic has introduced a usage-based insurance model that features monthly commercial auto premium adjustments based on an insured’s driving behaviors. Fairmatic’s “performance-priced commercial auto insurance” product is currently available to commercial fleets and on-demand delivery and …

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Rochester Woman Arraigned for Defrauding Workers’ Comp System of More Than $5K

A Rochester, N.Y., woman has been arraigned on charges that she defrauded the workers’ compensation system of more than $5,000 by endorsing and cashing wage reimbursement checks intended for her deceased grandmother. “This is an egregious case where an individual …

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Hub International Limited Acquires Assets of Virginia’s Washington Financial Group

Hub International Limited , a global insurance brokerage and financial services firm, has acquired the assets of Wash Financial L.L.C., doing business as Washington Financial Group (WFG). Terms of the transaction were not disclosed. Headquartered in McLean, Va., and led …

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Probe into Deadly Genoa Bridge Collapse Reveals Falsified Safety Reports: Police

The long-standing head of Italian infrastructure group Atlantia is ready to step down as a probe into a deadly bridge collapse snowballs, prompting its top shareholder, the Benetton family, to pull support, sources said on Monday. Giovanni Castellucci, who masterminded …

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Massachusetts, New York Signal Purdue Faces Stiff Court Fight

The attorneys general of Massachusetts and New York gave Purdue Pharma LP a preview of the opposition it’s facing in bankruptcy court as the embattled maker of the OxyContin painkiller seeks approval of a roughly $10 billion settlement stemming from …

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Marsh Taps AIG’s Manson, Aon’s Mills for U.K. Mgmt Liability, Wholesale Placement Roles

Marsh, the insurance broker and risk adviser, announced the appointments of Stephanie Pestorich Manson as chief client officer for Management Liability and head of Directors’ & Officers’ (D&O) Product and Jason Mills as wholesale leader in the U.K. Financial & …

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18-Karat Gold Toilet Stolen From Winston Churchill’s Birthplace

Burglars overnight broke into England’s Blenheim Palace [on Saturday, Sept. 14] the birthplace of Winston Churchill, and stole an 18-karat gold toilet on display as part of an art exhibition. The thieves took the “high-value” item, causing significant damage and …

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Specialty Lines Insurance: Innovating at the Edges of Society and the Economy

Emerging risks with little or no claims history can be notoriously difficult to underwrite—but many specialty lines companies are finding ways to put their toes in the water to insure these new risks, especially when customer demand is there. In …

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Catastrophe Modelers: U.S. Insured Losses from Dorian Could Reach $1.5B in U.S.

Catastrophe modeling firms Karen Clark & Co. and RMS have released insured loss estimates for Hurricane Dorian, ranging from $500 million to $1.5 billion. According to KCC, Dorian reached peak intensity of 185 mph while over the Bahamas, one of …

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Experts Not Worried About Saudi-Like Drone Attack Knocking Out U.S. Oil Production

The style of attack used against oil plants in Saudi Arabia that knocked out half of the country’s production on Saturday is unlikely to be a risk in the United States, energy and security experts say. “The U.S. oil industry …

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Centers for Disease Control Prioritizes Investigations into Vaping-Related Illnesses

The U.S. Centers for Disease Control and Prevention (CDC) said on Monday it has activated its emergency operations center to coordinate the investigation into hundreds of cases of severe lung illnesses linked to e-cigarette use. The CDC’s Emergency Operations Center …

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Lawsuits Targeting E-Cigarettes Increase Along with Death, Illness Reports

Several deaths and potentially hundreds of illnesses have been tied to e-cigarettes, which allow users to inhale nicotine vapor, often flavored, without smoking. Lawsuits have been filed against e-cigarette maker Juul and more are expected amid increasing scrutiny. The following …

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Berkshire Hathaway GUARD Expands Commercial Package Coverage Into New Jersey

Berkshire Hathaway GUARD Insurance Companies has expanded its Commercial Package product into New Jersey. This offering includes: Commercial property with limits up to $120 million per location with an enhanced causes of loss form which includes built-in equipment breakdown and …

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Florida-Based We Insure Group Adds Plfueger, Crowe to Executive Team

We Insure Group has expanded its executive team with two new hires – Chris Pflueger has joined as chief development officer and Peter Crowe as chief revenue officer. Pflueger will execute strategies to drive We Insure’s growth and joins We …

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Agency Vows Lower Cyber Insurance Deductible for Multi-factor Verification

Coalition, a cyber insurance agency for small and midsize businesses, has launched an incentive program to reward policyholders who implement multi-factor authentication (MFA, also commonly known as 2FA) on their business email accounts. Coalition said recent reporting shows that enabling …

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Santa Ana Winds Return to California Brining Wildfire Danger

The Santa Ana winds have returned to California, a signal to the state’s residents that the wildfire season has begun in earnest. The winds are created by high pressure over Nevada’s Great Basin as cool weather starts to arrive in …

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Victims of Washington Amtrak Derailment to Get $16.75M

A jury has awarded three plaintiffs injured in a 2017 Amtrak derailment outside DuPont, Wash. a total of $16.75 million in damages, Luvera Law Firm said in a statement. The plaintiffs, Dale Skyllingstad, Blaine Wilmotte and Madison Wilmotte, are the …

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California Governor Says He’ll Veto So-Called Trump Insurance Bill

California Gov. Gavin Newsom plans to veto a bill approved by the Democrat-controlled legislature that sought to preserve federal environmental and worker safety standards in the face of any Trump administration rollbacks. Under SB 1, if federal officials weaken certain …

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Alliant Insurance Services Forms Alliant Mergers & Acquisitions in New York City

Alliant Insurance Services has formed a new brokerage service vertical, Alliant Mergers & Acquisitions. Falling under the Alliant Specialty retail umbrella, Alliant Mergers & Acquisitions will provide expertise to private equity firms and alternative asset investors to ensure transactions are …

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Sentinel Marine Underwriters Hires Chung in New York City, Klein in Baltimore

Sentinel Marine Underwriters (SMU), a specialty managing general agency that is part of AmWINS Underwriting and is dedicated to providing cargo-in-transit and cargo stock-throughput insurance for a variety of insureds in the global manufacturing, wholesale and retail trade industries, has …

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Startup Agency Zeguro Helps Businesses Manage Cyber Risk and Insurance Premiums

Insurtech Zeguro has launched its platform designed to help small and midsize companies manage cyber threats in multiple ways. The San Francisco-based managing general agency describes itself as an “end-to-end cyber safety platform and insurance provider.” Its new platform includes …

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New York Finds $1B in Hidden Transfers by Purdue Pharma’s Sackler Family

The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York’s attorney general contends in court papers filed Friday. New York – asking a judge to enforce subpoenas of …

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Amazon Under Scrutiny Over Claims of Unsafe Conditions for Delivery Drivers

Three U.S. senators on Thursday said Amazon.com Inc should stop working with delivery contractors that violate labor laws by imposing unfair conditions on drivers delivering packages for the e-commerce company. The senators, in a letter to Chief Executive Officer Jeff …

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Facing Thousands of Opioid Lawsuits, Purdue Pharma Officially Files for Bankruptcy Protection

OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic. Purdue’s board met Sunday evening to approve the long-expected bankruptcy filing, …

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Bankrupt Philadelphia Refinery Expects $50M Advanced Insurance Payment

Insurers of a fire-damaged Philadelphia refinery have indicated they would make a $50 million initial advance payment in connection with a June blaze that led to the plant’s closure, court documents showed. The infusion of funds would buy cash-strapped Philadelphia …

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Electronic Marketplace AkinovA Donates Data Assets to ACORD for Industry Standards

AkinovA, the independent electronic marketplace for the transfer and trading of re/insurance risk, has donated key insurance linked security (ILS) data assets to ACORD, the global standards-setting body for the re/insurance industry,. The donated assets include data definitions and collection …

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RSA Ireland Names Thompson from Insurance Ireland as CEO

Kevin Thompson has been appointed chief executive of RSA Ireland after being approved by the regulator Central Bank of Ireland. He will replace Ken Norgrove, who is moving to the role of CEO of Codan/Trygg-Hansa, RSA Group’s Scandinavian business. Thompson …

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VIBE Syndicate Mgmt Closes Accident & Health, Property Direct & Facultative Units

VIBE Syndicate Management (VIBE), announced the closure of its Accident & Health and Property Direct & Facultative (D&F) business units with immediate effect. “As we continue our strategic review of the VIBE business we have decided to cease underwriting new …

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Insured Losses for Typhoon Faxai Estimated at US$3B-US$7B: AIR Worldwide

Industry insured losses from Typhoon Faxai, which made landfall in Japan on Sept. 9, will be between 340 billion Japanese yen (US$3 billion) and 740 billion yen (USD 7 billion), estimated Boston-based catastrophe risk modeling firm AIR Worldwide. Typhoon Faxai …

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JBA Risk Management Launches Probabilistic Global Flood Model

The global leader in flood risk management, JBA Risk Management, launched the first probabilistic global flood model, which allows re/insurers to model river and surface water flood at 30 meters (98.4 feet) resolution worldwide. The Global Flood Model not only …

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Humberto Strengthens into 3rd Atlantic Hurricane of 2019, Heading to Bermuda

Tropical storm Humberto has now intensified into the third Atlantic hurricane of 2019 with top sustained winds of 75 mph, according to weather.com meteorologists in a report issued on Sept. 15. The majority of the showers, thunderstorms and strongest winds …

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Reith to Step Down as Group CEO of Neon

American Financial Group Inc. announced that Martin Reith intends to resign his executive roles with Neon, including stepping down as group CEO of Neon, effective Sept. 30, 2019. He will remain a member of the Neon Underwriting Ltd. (NUL) Board …

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Bill Would Allow Service Members to Sue Military for Medical Malpractice

U.S. Senators John Kennedy (R-La.) and Mazie Hirono (D-Hawaii) have introduced legislation to allow active duty service members to sue the military for medical malpractice and negligence. A Supreme Court decision in 1950 banned active duty service members from suing …

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Pharmacies, Distributors Say Opioid Case Judge Biased, Seek Removal

AmerisourceBergen Corp., Cardinal Health Inc., CVS Health Corp. units and other prescription drug distributors and pharmacies moved to bounce Cleveland federal judge Dan Polster from the massive opioid liability case he’s overseeing, claiming he’s likely biased against them. The Saturday …

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Alera Group Acquires Makro Enterprises in Nevada

Alera Group has acquired Makro Enterprises in Las Vegas, Nev. Makro will join Alera Group through local firm GLB Insurance. Terms of the deal were not disclosed. Makro offers employee benefits and insurance services for clients throughout Las Vegas and …

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North Carolina Gov Requests Hurricane Dorian Disaster Declaration

North Carolina Gov. Roy Cooper is seeking a federal disaster declaration for 13 counties affected by Hurricane Dorian. Cooper made the request to President Donald Trump’s administration Friday. If approved, money would be available to help with the cost of …

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Willis Towers Watson, Sompo GRS Launch Middle Market Commercial Real Estate Platform

Willis Towers Watson has entered into a strategic partnership with Sompo Global Risk Solutions (GRS) to create an integrated insurance platform to serve the needs of the middle market commercial real estate segment. The Willis Towers Watson Retail, Office and …

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PMA Companies Insurance Group Names Mtchell Claims AVP in Southeast ß Photo

PMA Companies Insurance Group has named Sabrina Mitchell as Claims assistant vice president, Southeast Region. Mitchell will be responsible for leading PMA’s Southeast Region insurance claims operations and will report directly to Ray DiCello, senior vice president and chief claims …

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Coast Guard Issues Safety Recommendations After California Dive Boat Fire

The Coast Guard announced it has issued new safety recommendations in the wake of a fatal boat fire off the Southern California coast that killed 34 people. The agency recommended limiting the unsupervised charging of lithium-ion batteries and the use …

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California Lawsuit Over Profits From Fox Series “Bones” is Settled

A lawsuit over profits between the producers and stars of the show “Bones” and 21st Century Fox has been settled. The two sides in the long-running lawsuit over the hit Fox TV show filed documents saying the lawsuit was settled …

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Uber Being Sued Over Resistance to California ‘Gig’ Contractor Law

A driver for Uber has sued the company for misclassifying its drivers as independent contractors, hours after California legislators voted to help thousands of those workers become, and enjoy the benefits of being, employees. The proposed class action filed on …

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Alaska Grand Jury Indicts GE’s Baker Hughes for Exposing Workers to Toxic Chemicals

A grand jury in Alaska this week indicted General Electric’s Baker Hughes, two of its subsidiaries and an employee, for 25 felony charges of assault relating to toxic chemical releases at a construction site, according to authorities. The indictment charges …

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PG&E Reaches $11B Settlement Relating to California Wildfire Claims

ower producer PG&E Corp. said on Friday it has reached an $11 billion settlement agreement with entities representing about 85% of insurance subrogation claims relating to 2017 and 2018 wildfires. The company said these claims were based on payments made …

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U.K. Police Drop Probe Into Pro-Brexit Group Leave.EU, Co-Founded by Insurance Exec

U.K. police dropped an investigation into whether Brexit supporting campaign Leave.EU breached electoral law, saying there was insufficient evidence to justify any further criminal probe. While Leave.EU made some “technical breaches” of the law when it comes to the spending …

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Euro Zone to Launch Public Cryptocurrency in Response to Threat of Facebook’s Libra

Euro zone governments and central banks are working on a long-term plan to launch a public digital currency that they hope would make redundant projects like Facebook’s Libra, which is seen as a risk to financial stability, officials said on …

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Insurers Looking to Add Jobs in Low Unemployment, High Tech Environment

About 62 percent of insurance companies polled said they intend to increase staff in the next 12 months, according to the latest U.S. Insurance Labor Outlook Study conducted by recruitment firm The Jacobson Group and insurance and professional services firm …

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U.K. Telematics Insurer Finds Motorists 32% More Likely to Crash on Friday the 13th

Analysis of almost five billion miles of driving data and associated claims in the U.K. shows that Friday is the most likely day for motorists to have a road traffic incident, and when it falls on the 13th of the …

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Allianz Risk Names Bavishi as Deputy Regional Head of Americas

Allianz Global Corporate & Specialty has appointed Parag Bavishi as deputy regional head of the Americas with its Alternative Risk Transfer (ART) division. In this role, Bavishi will lead ART’s structured corporate and integrated business. As vice president of Underwriting …

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States Report 380 Cases of Lung Disease, 6 Deaths Linked to Vaping

The Centers for Disease Control and Prevention updated the number of confirmed and probable cases of lung disease associated with e-cigarette product use, or vaping, to 380. As of September 11, cases were reported by 36 states and the U.S. …

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Edwards Named CEO OF Aspen Insurance UK and Aspen Managing Agency

Aspen Insurance Holdings Ltd. announced that Clive Edwards has been appointed chief executive officer of Aspen Insurance UK Ltd. (AIUK) and Aspen Managing Agency Ltd. (AMAL), subject to regulatory approval. Edwards succeeds Mike Cain who, as previously announced, has been …

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New Tropical Storm Threatens Bahamas and Could Set Sights on Eastern Florida

Tropical storm warnings have been declared for the Bahamas, which was just battered by Hurricane Dorian, evidence of strengthening in a system that forecasters say is moving toward Florida or the Gulf of Mexico. The storm is set to drop …

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Tokio Marine Kiln Announces Leadership Changes, Including New CEO

Tokio Marine Kiln (TMK) announced that after 11 years as chief executive officer, Charles Franks is assuming new responsibilities within the Tokio Marine Group (TMG). He will be succeeded by Brad Irick as CEO of TMK from Jan. 1, 2020, …

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Virginia is Latest State to Sue Purdue Pharma Family

Virginia has joined a growing number of states suing members of the family that owns Purdue Pharma for their alleged role in the nation’s opioid crisis. Attorney General Mark Herring announced Wednesday that the state has amended a lawsuit it …

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TigerRisk Partners Appoints Gupta as Chief Operating Officer in New York

TigerRisk Partners LLC, a risk, capital and strategic advisor to the global insurance and reinsurance industries, has appointed Manoj Gupta as chief operating officer. Prior to joining TigerRisk, Gupta was president of Third Point Reinsurance Ltd.’s U.S. subsidiary. He held …

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Professional Insurance Agents of New York Names Tomassi as President

John R. Tomassi was named president of the Professional Insurance Agents of New York (PIANY), at a meeting of the association’s board of directors today at PIANY headquarters in Glenmont, N.Y. Tomassi is a partner in CLG Insurance in Clifton …

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UK Prime Minister Warned that Parliament Will ‘Forcefully’ Try to Stop No-Deal Brexit

Boris Johnson’s Brexit troubles deepened as the Speaker of the House of Commons warned him Parliament will “forcefully” try to stop him taking Britain out of the European Union without a deal. The premier believes the only way out of …

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Mississippi Proposes New Labeling Regulations for Plant-Based Foods

Mississippi is considering new rules that let companies continue to use food-labeling terms such as “veggie burger” and “vegan bacon,” as long as the terms are prominently displayed so consumers understand the products are not meat. The state agriculture department …

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North Carolina to Receive $51M in Federal Aid for Storm-Ravaged Roads, Bridges

North Carolina will get some much-needed money to help with mounting repair costs the state has incurred in response to devastating hurricanes and other storms. The Federal Highway Administration said in a statement Tuesday that North Carolina would get $51 …

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Hardening Markets, Social Inflation, E&S Business, Strategy: Berkley, AIG Execs Face Analysts

The commercial general liability line will be the next property/casualty line to harden, the chief executive of W.R. Berkley Corp. predicted at an industry conference. Speaking at the Keefe, Bruyette & Woods Insurance Conference last week, W. Robert Berkley Jr., …

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NFL Innovation Challenge: $3 Million for a Better Helmet

The National Football League wants a better helmet, and for the first time, it’s willing to pay for it. The richest and most-watched U.S. sports league has created the NFL Helmet Challenge, a $3 million, 18-month contest to see who …

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Gene Therapy Drugs That Cost Millions Have Employers and Health Plans Worried

Employers and health plans fear they could be swamped financially by a coming wave of expensive new genetic therapies for rare diseases. Regulators have recently approved two treatments that sell at many multiples of the prices of routine treatments for …

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Uber Refusing to Label Drivers as Employees Under California Law

Facing the most serious threat yet to its business model, Uber Technologies Inc. is dusting off a legal argument it has employed with mixed results: that it’s a technology platform, not a transportation company. Now, as a new California law …

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California Truckers Worrying over New ‘Gig Worker’ Rules

California trucking companies that haul everything from summer strawberries to cars and Christmas toys say they are under threat from a bill that could turn so-called gig workers into employees. California state Senators late on Tuesday passed AB5, proposed legislation …

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Liberty Specialty Markets Promotes Montoya to President of U.S., Bermuda and LatAm

Liberty Specialty Markets (LSM) announced the appointment of Alexander Montoya as president of U.S., Bermuda and LatAm, effective immediately. LSM also announced Wilhelm Schaugg has joined Montoya’s team. Wilhelm Schaugg, joins LSM as head of Strategy – U.S., Bermuda and …

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Another Hard Market Harbinger: U.S. Commercial Lines Prices Up 4% in Q2, Says Willis Towers Watson

In yet another sign of a hardening market, U.S. commercial insurance prices grew at an accelerated rate compared to a year ago, according to Willis Towers Watson’s latest Commercial Lines Insurance Pricing Survey. Pricing jumped by nearly 4 percent in …

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Vermont Anti-Poverty Group Fined for Asbestos and Safety Hazards

A state investigation details a Vermont anti-poverty group didn’t tell its employees that one of its facilities contained asbestos, exposing workers to health and safety risks. The investigation that concluded in May shows that the Northeast Kingdom Community Action paid …

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Gallagher Hires Kambos to New York Management Liability Practice

Gallagher, a global insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Ill., has hired Mike Kambos as its area senior vice president for New York’s Management Liability Practice. Kambos brings more than 30 years of experience …

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Assurance Hires Warren to Mid-Atlantic Office in Virginia

Assurance, an independent insurance brokerage in the U.S., has hired Chris Warren. Warren will be based in the Assurance Mid-Atlantic office in Arlington, Va., and serve as a risk management consultant for Assurance’s construction and real estate practices. In this …

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Statewide Insurance Joins Satellite Agency Network Group

Statewide Insurance has joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast, after recently opening in Walpole, Mass. Statewide Insurance provides all lines of personal and commercial coverages to local clients in Massachusetts …

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Report: $221B in Western U.S. Homes at Extreme Risk of Wildfire Damage

Nearly 776,000 homes with a reconstruction cost value of more than $221 billion are at extreme risk of wildfire damage, a new report out Thursday shows. The 2019 CoreLogic Wildfire Risk Report examines single-family and multifamily residential properties at risk …

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Markel Corp. Launches Bermuda Retrocessional ILS Platform and Reinsurer

Markel Corp. announced the launch of Lodgepine Capital Management Ltd., its new retrocessional Insurance Linked Securities (ILS) fund manager in Bermuda, together with a reinsurance company, Lodgepine Re. Lodgepine’s initial product offering will be the Lodgepine Fund, a property catastrophe …

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Hurricane Dorian Drowned People Taking Refuge in Attics with Storm-Surge of 20-25 Ft

Teams of dog handlers from the U.S., Canada and Belgium are uncovering more and more dead bodies among the debris of Bahamas homes hit by Hurricane Dorian, the Health Ministry said. The Category 5 storm was so powerful that it …

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Cyber Risk Modeling Company Kovrr Raises $5.5 Million

Kovrr, a Tel Aviv-based predictive cyber risk modeling company, announced a $5.5 Million financing round. The funding round was led by StageOne Ventures, Mundi Ventures and Innocells (the corporate venture arm and digital innovation hub of Banco Sabadell), and other …

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U.K. Insurer RSA Merges Commercial Risk Solutions, Global Risk Solutions Businesses

RSA UK & International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single business unit focused on commercial lines. This move follows another restructuring in 2016 when the two divisions — CRS …

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SOBC DARAG Acquires New Mexico P&C Insurance Company

SOBC DARAG has acquired New Mexico P&C Insurance Co. SOBC DARAG has received approvals from New Mexico OSI and Florida OIR for the transaction. Terms of the deal weren’t disclosed. SOBC DARAG Holdings is ultimately owned by DARAG Group investors. …

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Reuters Report: How Court Lets Merck Hide Secrets About Baldness Drug Propecia’s Risks

By the time Kelly Pfaff got home from driving her son to school that morning, it was too late. Her husband, John, was supposed to be taking their 4-year-old daughter to school. But the girl and the nanny were still …

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States Split Over Purdue’s $12 Billion Opioid Epidemic Settlement Plan

Purdue Pharma LP, maker of the highly addictive Oxycontin painkiller, is pitting state against state with its offer of about $12 billion to resolve the company’s liability for the massive public-health crisis tied to opioid abuse that’s swept the U.S. …

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Hawaii Employers Mutual Declares $3.5M Dividend for Workers’ Comp Policyholders

The board of Hawai`i Employers’ Mutual Insurance Company Inc. has declared a $3.5 million dividend payable to qualifying policyholders. HEMIC says that with this dividend it will have returned over $38 million dollars to Hawaii businesses over the last 13 …

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Hometown Jury Says J&J Must Pay $37.2 Million for Cancers Linked to Baby Powder

Johnson & Johnson must pay at least $37.2 million to four consumers who blamed asbestos-tainted talc for their cancers in the company’s latest loss in nationwide litigation over its iconic baby powder. A jury in J&J’s hometown of New Brunswick, …

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ARAG, Morrison Insurance Solutions Launch Coverage for FosterTalk Legal Guardians

Leading legal expenses insurance provider ARAG plc has developed a product with specialty insurance broker Morrison Insurance Solutions to offer legal advice and protection to special guardians. The product has been created for the independent, not-for-profit organization FosterTalk, which provides …

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AXA XL Partners with Insurtech Neptune Flood to Expand Private Flood Insurance

AXA XL is partnering with digital private flood insurance program manager Neptune Flood in a strategic underwriting partnership that will more than double Neptune’s capacity across the country. According to CEO Jim Albert, the new partnership doesn’t change Neptune’s core …

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Canadian Insurtech Apollo to Offer Educators Liability Coverage in California

Apollo Insurance Solutions, a Canadian insurance marketplace, has entered the American market with a liability insurance product tailored for educators in California. The product allows consultants, instructors, and therapists to purchase their mandatory liability coverage that school districts require online. …

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Driver Killed, 8 Children Injured in Mississippi School Bus Crash

A school bus driver is dead and eight children have injuries after a school bus rolled over in northern Mississippi. The Mississippi Highway Patrol tells news outlets that the bus driver died in the Tuesday morning incident, with the bus …

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Wright National Flood Insurance, Zurich Launch Private Flood Product in Florida

Wright National Flood Insurance Services, LLC (WNFIS) and Zurich North America have introduced Zurich Residential Private Flood Insurance program. This stand-alone admitted product launched exclusively in Florida on September 3, with plans to expand the coverage to 11 additional states …

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High Street Insurance Partners Acquires Michigan’s Ottawa Kent Insurance Agency

High Street Insurance Partners (High Street), an ExecFactor full-service insurance brokerage platform owned by private equity firm Huron Capital, has acquired Ottawa Kent Insurance Agency (Ottawa Kent), an outsourced risk management and independent insurance agency with four offices in West …

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Texas Again Has the Most People Without Health Insurance

The rate of Texans without health insurance rose for the second year in a row, making it once again the most uninsured state in the nation, according to data released Tuesday by the U.S. Census Bureau. In 2018, 17.7% of …

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Hula Hoop Tree Raises Liability Concerns for Iowa County

Liability concerns have been raised about the Hula Hoop Tree that sits alongside a county road in eastern Iowa. The Jones County Board of Supervisors was scheduled to discuss the concerns at the board meeting in Anamosa. The discussion could …

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Bill to Tighten “Gig” Worker Rule Passed by California Senate

The California State Senate voted on Tuesday to pass a bill that would make it much more difficult for gig economy companies like Uber Technologies Inc. and Lyft Inc. to classify workers as independent contractors rather than employees. The bill, …

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Michigan Pipeline Company to Shut Down, Pay $509K for Trenching Safety Violations

Under an agreement with federal safety officials, a Grand Rapids, Michigan, pipeline company will close down and pay just over $509,000 for exposing workers to serious trenching and excavation hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration …

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Dallas Utility Company to Pay $50K to Settle Federal Disability Discrimination Suit

A Dallas-based electric utility company will pay $50,000 and furnish other relief to settle a disability discrimination lawsuit, federal officials said. A consent decree in the U.S. Equal Employment Opportunity Commission’s (EEOC) lawsuit against Oncor Electric Delivery Company LLC was …

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Harlos Joins Texas Security General Agency as VP, Operations

Texas Security General Insurance Agency LLC (TSGA), based in San Antonio, Texas, has added Marian Harlos as vice president of Operations. Harlos brings 38 years of insurance industry experience. She began her career in the insurance industry in 1981 working …

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DARAG Buys Zurich’s German Architects & Engineers Professional Indemnity Portfolio

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has reached an agreement with Zurich Insurance plc to acquire Zurich’s German architects and engineers (A&E) professional indemnity insurance portfolio. The transaction is subject to relevant regulatory and court approvals, in …

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Tornado Touched Down Near Portland, NWS Confirms

A storm cell that passed over Portland, Ore., prompted two tornado warnings after trained storm spotters saw funnel clouds north and south of the Columbia River. The Oregonian/OregonLive reported that forecasters said the Sunday evening storm that created the funnel …

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Criminal Investigation Underway in California Dive Boat Fire

U.S. authorities are conducting a criminal investigation into the fiery dive boat disaster that killed 34 people off the coast of California, the FBI said. The FBI, Coast Guard and U.S. attorney in Los Angeles are participating in the investigation …

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Liberty Mutual Appoints Perez as Chief Underwriting Officer, North America

Liberty Mutual Insurance has appointed David Perez to the post of chief underwriting officer, North America, for its Global Risk Solutions commercial and specialty lines insurer and reinsurer. In this new role, Perez will partner with underwriting leaders in GRS’s …

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States Take Aim at SEC’s New Broker-Dealer Adviser Rule

New York and a half dozen other states accused the Securities and Exchange Commission of botching a final regulation intended to protect broker-dealer customers from conflicts of interest under the landmark Dodd-Frank Act passed nearly a decade ago. The new …

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Aspen Appoints Kotch from Validus as Chief Information Officer

Aspen Insurance Holdings Ltd. announced that Mary Kotch has been appointed chief information officer, with immediate effect. Kotch has more than 20 years’ experience in strategic technology innovation, application shared services, managing a global project management office, infrastructure, architecture, and …

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Judge: Facebook ‘Could Not Be More Wrong’ in Cambridge Analytica Privacy Suit Defense

Facebook Inc. users suing over the social network’s worst-ever privacy scandal gained leverage to pry into its internal records to back up their claims that it failed to safeguard their personal data, exposing the company to potentially billions of dollars …

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Conservative TV Channel Sues MSNBC’s Maddow for Calling It ‘Paid Propaganda’

A conservative television network has sued MSNBC’s Rachel Maddow for more than $10 million for calling it “paid Russian propaganda.” One America News filed the federal defamation suit in San Diego. The small, family-owned network based in San Diego is …

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Hagerty Acquires the Greenwich Concours d’Elegance in Connecticut

Hagerty, an automotive lifestyle brand and provider of specialty insurance to vintage vehicle enthusiasts, has acquired the Greenwich Concours d’Elegance in Greenwich, Conn. Following this move, Hagerty expects to add hands-on-the-wheel opportunities for show-goers, including its “Ride & Drives” that …

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The Hilb Group Acquires Massachusetts’ The Incentive Group

The Hilb Group LLC (THG) has acquired Massachusetts-based The Incentive Group LLC (IG). The transaction became effective September 1, 2019. IG is a full-service employee benefits consulting and brokerage firm providing solutions for a variety of industries and sizes. Located …

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Trial Begins in East Village Gas Explosion That Killed Two

A construction scheme to service high rent tenants created a virtual bomb, causing the 2015 gas explosion in Manhattan’s East Village that killed two people, injured 19 others and leveled three buildings, prosecutors said Monday during the start of trial. …

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Delaware Attorney General Targets Sackler Family in Opioid Lawsuit

Delaware’s attorney general is suing members of the family that controls OxyContin maker Purdue Pharma, accusing them of consumer fraud, negligence and creating a public nuisance. Monday’s court filing follows more than a dozen similar lawsuits by other state attorneys …

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North Carolina Police Report Rise in Gun Thefts from Cars

A North Carolina police department says it’s concerned about a sharp increase in the number of firearms stolen from vehicles. The Charlotte-Mecklenburg Police Department told a news conference last week that it’s seen an increase of nearly 20% in the …

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FEMA Officials Arrested on Fraud Charges Linked to Puerto Rico Hurricane Maria Aid

Federal Emergency Management Agency officials who oversaw the reconstruction of Puerto Rico’s electrical grid and the former president of Cobra Acquisitions were arrested on fraud and conspiracy charges linked to recovery efforts from Hurricane Maria, according to federal prosecutors. FEMA’s …

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Insurance Linked Securities in 2019: Asking the Right Questions

The record losses we saw in 2017 and 2018 were felt heavily by the insurance industry, and there is no denying that two years of losses have affected investor sentiment. While such a statement is hardly surprising, it is notable …

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NCCI Proposes 5.4% Decrease in Florida Workers’ Comp Rates

Florida businesses will see another workers’ comp rate decrease next year if the latest filing by the National Council on Compensation Insurance (NCCI) is approved by Florida regulators. Carrier results continue to be favorable in the segment thanks to many …

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Officials: Half of Texas Local Governments Hit by Ransomware Have Recovered

Texas authorities say they aren’t aware of any money paid to hackers who used ransomware to target more than 20 communities last month. The Texas Department of Information Resources said in a statement that more than half of the local …

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3 Industry Veterans Relish Fresh Start for Their Latest Legacy-Free Ventures

Although the insurance market is awash with capacity and competition, two new specialty companies—a re/insurer and a broker—formed earlier this year, aiming to create something new and different for their clients. First, well-known industry veterans Stephen Catlin and Paul Brand, …

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