Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company’s directors and officers insurance (D&O), replacing it with a promise to personally provide his board members with “equivalent” coverage to …
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2020年4月30日星期四
States Under Pressure to Lift Coronavirus Restrictions as Unemployment Grows
As White House economic reopening guidance expired on Thursday after two weeks in place, half of all U.S. states forged ahead with easing restrictions on restaurants, retail and other businesses in hopes of reviving coronavirus-stricken commerce. The enormous pressure on …
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Trump Administration Defends Workplace Safety Record During Coronavirus Crisis
U.S. Labor Secretary Eugene Scalia on Thursday defended his department’s handling of workplace safety during the coronavirus pandemic, saying “the cop is on the beat” in response to union criticism about a lack of directives to protect workers. In a …
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Florida CFO Says China Owes State Financial Restitution from COVID-19 Outbreak
Florida Chief Financial Officer (CFO) Jimmy Patronis has sent a demand letter to Chinese Ambassador to the United States Cui Tiankai demanding financial restitution from the Communist Party of China (CPC) for “significant harm to the State of Florida and …
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Wisconsin High Court Won’t Let Unions Join Suit Against Stay-at-Home Order
The Wisconsin Supreme Court on April 28 refused a request by several labor unions to help defend Democratic Gov. Tony Evers’ stay-at-home order from a Republican effort to overturn it. The order, which was issued by state Department of Health …
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New Orleans Won’t Participate in Louisiana’s Partial Business Openings, Yet
In much of Louisiana, restaurant owners are cautiously looking forward to opening some outdoor tables, and mall stores to beginning curbside service. But New Orleans won’t be participating in those slight relaxations of rules set up to slow the spread …
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Oklahoma Drilling Contractor to Pay $650K in Age, Disability Discrimination Suit
An Oklahoma-based oil and gas drilling contractor will pay $650,000 to settle a federal age and disability discrimination lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) said Horizontal Well Drillers LLC (HWD), based a Purcell, Okla.-based oil and gas drilling …
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Nationwide’s Left the Building. Insurer Makes Remote Work Permanent in 5 States.
Nationwide said it plans to permanently transition to a hybrid operating model that comprises primarily working-from-office in four main corporate campuses and working-from-home in most other locations. The company said it will exit most buildings outside of four main campuses …
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How Cruise Ticket Legal Language May Foil Class Action Suits
After two passengers on their luxury cruise tested positive for Covid-19 in March, Emilio and Barbara Hernandez were so frantic to get off the ship, they wrote a note to the captain. The Costa Luminosa sailed on with them still …
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WCF Insurance Names Wall Regional Vice President in Arizona, Colorado, Nevada
WCF Insurance has named Mark Wall regional vice president over Arizona, Colorado and Nevada. Wall will report to Kevin Peterson, senior vice president of sales and distribution, and will be responsible for collaborating with WCF business leaders, developing agency relationships, …
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Alaska Villages Prepare for Possible Flooding Evacuations
Villages in an Alaska region are preparing for possible evacuations because of an increased possibility of spring flooding. The state’s emergency operations center is monitoring melting ice on rural rivers in the Yukon-Kuskokwim Delta, KYUK-AM reported. Entire villages may need …
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Markel Estimates COVID-19 Losses of $325 Million
Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses. The holding company for specialty insurance and reinsurance, ILS …
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Maryland Insurance Administration Approves Temporary Rule Change for Workers’ Comp
The Maryland Insurance Administration has reviewed and approved a filing from its authorized workers’ compensation rating organization, the National Council on Compensation Insurance (NCCI), regarding a temporary rule change for workers’ compensation insurance. This comes after the administration issued a …
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CFC Appoints Groeber as Executive Vice President in New York
CFC, a specialist insurance provider in emerging risk, has appointed Shannon Groeber to the newly created role of executive vice president. Working from CFC’s office in New York, Groeber will be responsible for leading the company’s cyber strategy for its …
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Everest Insurance Names Jafari as Director of Alternative Solutions Group
Everest Insurance has named Yashar Jafari as director of the Alternative Solutions Group, where he will lead the newly-formed Tax Liability underwriting team. Jafari will be based out of the company’s New York City office. Jafari joins Everest after spending …
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NYC Comptroller Urges Major Insurance Companies to Cut Ties with Coal Industry
New York City Comptroller Scott M. Stringer has called on three multi-national insurance companies to end business ties with the coal industry, a move he says will protect clients from the effects of climate change and ensure long-term value for …
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Lockton Re in London Taps Aon Re’s Mallon, Neon’s Foxall for North America, Int’l Teams
Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, announced two new appointments in its London office. Phillip Mallon will be joining the North American team on May 1 and Freya Foxall will join …
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Swiss Re Reports Q1 Loss of $225M as Impact of COVID-19 Crisis Begins to Hit
Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday. The Zurich-based company booked a hit of $476 million for anticipated and …
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UK Regulator Probes Events Firms for Failure to Pay Refunds During COVID-19 Crisis
Britain’s competition regulator said it has opened investigations into thousands of complaints about companies refusing to pay refunds for canceled weddings and other events during the coronavirus pandemic. Britain has been in lockdown since March, forcing people to stay at …
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Top Insurers Face Lawsuit from UK Hospitality Sector on Rejected Biz Interruption Claims
Top insurers such as AXA, RSA, QBE and Zurich face a potential multi-million-pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been rejected. A new Hospitality Insurance Action Group (HIGA) on …
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Georgia Coronavirus Deaths Top 1,000 Amid Reopening Effort
Georgia officials reported Tuesday the coronavirus has killed more than 1,000 people statewide as some local officials urged people to continue isolating at home in spite of the governor’s aggressive efforts to reopen businesses and reboot the economy. The Georgia …
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NTSB: Failure to Heed Warnings Led to Missouri Duck Boat Sinking
The primary cause of the sinking of a tourist-carrying duck boat on a Missouri lake in July 2018, in which 17 people were killed, was the continued operation of the vessel during severe weather, despite severe weather warnings issued by …
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2020年4月29日星期三
Court Nixes $64M Award Against Fireman’s Fund in Reinsurance Spat with Utica Mutual
A federal appellate court on Tuesday overturned a jury’s award of $64 million against Fireman’s Fund Insurance Co. for allegedly breaching the terms of a reinsurance agreement. The 2nd Circuit Court of Appeals found that Fireman’s Fund was not liable …
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After Crisis, It Won’t Be Business as Usual – It Will Be Business Done Better: Opinion
As the insurance industry begins to settle into the new norm of working from home (WFH), most companies will be questioning the very fundamentals of their day-to-day operating models. Staff will, of course, be looking forward to the day when …
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Most Businesses Have Some Cyber Insurance But Gaps in Coverage Remain
The majority of businesses are insured against traditional cyber risks, such as breaches of personal information, but most remain vulnerable to emerging risks, such as malware and ransomware, revealing a potential gap in their insurance coverage. A study commissioned by …
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Consumer Groups Oppose Immunity for Businesses From Coronavirus Lawsuits
U.S. consumer advocates are urging Congress to resist growing demands by companies for protections from coronavirus-related lawsuits as states start to ease pandemic restrictions and businesses begin to reopen. Led by Public Citizen and the Center for Justice and Democracy, …
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Company Settles Texas Disability Accommodation Suit for $66K
Assisted Living Concepts LLC, doing business as Enlivant, a national owner and operator of senior living facilities, has settled a federal disability discrimination lawsuit related to a facility in Dallas, Texas. The company will pay a former chef $66,000 and …
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Program Management Specialist R&Q Receives Equity Investment of $100M
Randall & Quilter Investment Holdings Ltd., the global program management and legacy acquisitions specialist, announced it has received an equity investment of US$100 million, which is designed to help it capitalize on opportunities in its specialty business areas. R&Q said …
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Caffeine Bought Online Killed Ohio Teen. Is Amazon at Fault?
Logan Stiner was just days from high school graduation when his brother found him unresponsive in their family’s home southwest of Cleveland, Ohio, in May 2014. Stiner, 18, died of cardiac arrhythmia and seizure from acute caffeine toxicity, a coroner …
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2 Injured in Explosion at Western Iowa Gas Station, Auto Shop
Two men who were inside a western Iowa gas station and auto repair shop when it was leveled by an explosion are expected to recover from their injuries. Dan Grote, co-owner of Earling Standard Shop, received stitches for cuts and …
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Chicago-Area Nursing Home Workers Threaten Strike in Midst of Pandemic
Workers at 40 Chicago-area nursing homes announced they have set a May 8 strike date over wages as many of the facilities are treating patients suffering from the coronavirus. Members of the Service Employees International Union, which represents more than …
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Velocity Risk Unveils New Coastal Homeowners Product for Florida, Texas
Velocity Risk Underwriters LLC has expanded its insurance products for homeowners in coastal areas of Florida and Texas. The company launched Velocity Flex Home as an additional homeowners product in Texas and Florida to give appointed agents the ability to …
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Lockton Promotes Marrero and Talym to Key Leadership Posts
Independent insurance brokerage Lockton two key leaders to support the company’s planned growth trajectory. Hiram Marrero, currently executive vice president and regional executive officer with Lockton, will assume the role of president, global growth officer, reporting to Ron Lockton, chairman …
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Beazley Expands M&A Insurance Team with 5 New Underwriters, Geographies
Specialist insurer Beazley has expanded its mergers & acquisitions (M&A) team with new locations and the appointment of five new underwriters. This follows several years of continuous growth in underwriting transaction risks, Beazley said in a statement. “We have seen …
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$1.4M to Mother of Homeless Man Killed by Police in California
A San Francisco Bay Area city has agreed to pay $1.4 million to the mother of a homeless man killed by police after they found him in a residential neighborhood with a gun in his hand. The April 23 vote …
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Recovered from COVID-19, Wary First Responders Back on Job
The new coronavirus doesn’t care about a blue uniform or a shiny badge. Police, firefighters, paramedics and corrections officers are just a 911 call away from contracting COVID-19 and spreading it. With N95 masks hanging off their duty belts and …
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Lippa Insurance Services in California Names Sage Vice President
Lippa Insurance Services Inc. in Laguna Niguel, Calif., has named Andrew Sage as vice president of accounting. Sage is a third-generation family member to join the firm. He was previously worked with RJS Insurance Services, and with Sage Risk Management …
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California Earthquake Authority Named Administrator of Wildfire Fund
The California Catastrophe Response Council, which oversees the Wildfire Fund, has formally named the California Earthquake Authority the fund’s administrator. The Wildfire Fund was established by the California Legislature, under Assembly Bill 1054 and Assembly Bill 111, and was signed …
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Hiscox Action Group Gears Up to Take Hiscox to Court over COVID-19 BI Exclusions
Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox’s pandemic exclusions to its commercial business interruption policies. More than 200 UK policyholders have joined the Hiscox Action Group, which has retained counsel and this week …
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Amid Coronavirus Unemployment Surge, Millions of Remote and ‘Essential’ Workers Plug Away
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home. The coronavirus crisis would appear to have put the entire U.S. economy on ice. Twenty-six million people have filed for …
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Federal, State Prosecutors Form Delaware COVID-19 Anti-Fraud Coalition
United States Attorney David C. Weiss and Delaware Attorney General Kathleen Jennings have announced the formation of a new Coronavirus (COVID-19) Anti-Fraud Coalition, aimed at better protecting the citizens of Delaware from criminal and civil fraud arising from the pandemic. …
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Guy Carpenter Taps Williams from AIG as Global Head of Client Support Services
Guy Carpenter & Co., LLC, the reinsurance brokerage business of Marsh & McLennan Cos., announced that George Williams has been appointed managing director, global head of Client Support Services, effective immediately. In this role, Williams will be responsible for setting …
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New York AG Raises Concerns About Amazon’s Pandemic Safety Practices
Amazon.com Inc may have violated safety measures and labor practices amid the coronavirus pandemic as it fired a warehouse protest leader last month, New York Attorney General Letitia James’s office wrote in a letter to the company last week. “Amazon’s …
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Insurers Promote Federal Pandemic Insurance Plan to Congress
The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters. The campaign involves …
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Cruise Ship Passengers Seeking COVID-19 Class Action Suits Face Uphill Legal Battle
After two passengers on their luxury cruise tested positive for Covid-19 in March, Emilio and Barbara Hernandez were so frantic to get off the ship, they wrote a note to the captain. The Costa Luminosa sailed on with them still …
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2020年4月28日星期二
Unions Push Back on Trump Plan to Order Meat Processing Plants to Stay Open
President Donald Trump said on Tuesday he plans to order meat processing plants concerned about coronavirus outbreaks to stay open to protect the food supply in the United States, drawing a backlash from unions who said at-risk workers required more …
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How Coronavirus Shutdown Impacts Bayer Stance in Glyphosate Settlement
Bayer said the economic downturn and the need to preserve cash means it is taking a tougher stance in talks to settle claims over accusations that its glyphosate-based weedkillers cause cancer, even as its earnings rose. The pandemic has significantly …
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Many Tennessee Restaurants Get Green Light to Reopen Despite Virus Spread
Most of Tennessee’s restaurants were given the green light to allow dine-in service once again Monday as part of Gov. Bill Lee’s directive to begin reopening the state’s economy that had been largely closed due to the outbreak of COVID-19. …
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North Carolina Extends Emergency Order for Insurers to Defer Premium Payments
North Carolina Insurance Commissioner Mike Causey has extended an order issued last month to the insurance industry requesting that insurers defer policyholder payments for an additional 30 days, beginning April 27. The original order, issued March 27 and amended on …
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W. Va. Gov. Justice’s Coal Firms to Pay $1M in Fines, Penalties in Mine Contract Dispute
A federal judge in Kentucky has ordered companies owned by West Virginia Gov. Jim Justice to pay more than $1 million in fees and expenses in a lawsuit that accused them of defaulting on a mining contract. U.S. District Judge …
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Berkley Program Specialists Partners with Ohio’s IEPM
Berkley Program Specialists, a Berkley Company dedicated exclusively to program business, has entered into a partnership with Beachwood, Ohio-based International Excess Program Managers (IEPM), a division of One80 Intermediaries. IEPM has provided access to a full range of insurance products …
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Marsh JLT Specialty Expands Renewable Energy Team in UK, U.S., and Asia
Insurance broker Marsh announced key leadership appointments within Marsh JLT Specialty’s Renewable Energy team. Oliver Holme has joined Marsh in the newly created role of UK and U.S. Offshore Wind leader, reporting to Hamish Roberts, Power leader, and Amy Barnes, …
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Texas AG Accuses Largest Egg Producer in US of Price Gouging
Texas’ attorney general has accused the nation’s largest egg producer of price gouging during the coronavirus pandemic. A lawsuit filed by Republican Attorney General Ken Paxton alleges that Cal-Maine Foods raised generic eggs price by 300% even though the pandemic …
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Texas High Court Allows Prompt Payment Claim Against State Farm Lloyds
Texas’ high court recently reversed the ruling of an appeals court in a case involving whether an insurer’s payment of an appraisal award negates an insured’s claim against the carrier the Texas Prompt Payment of Claims Act (TPPCA). In Juan …
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Pilot Sues Colorado Hotel Over Dismissed Exposure Charge
A United Airlines pilot whose charge of indecent exposure was dismissed sued the Denver, Colo. airport hotel where his arrest occurred. An attorney for Andrew Collins filed the lawsuit against The Westin Denver International Airport in U.S. District Court Monday, …
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The Doctors Co. in California Names Spadacenta Claims Executive
The Doctors Co., based in Napa, Calif., has named Marco Spadacenta senior vice president of claims. Spadacenta oversees the claims function nationally of the admitted medical professional liability unit, reporting to Robert White, executive vice president of the unit. Spadacenta …
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Maryland Insurance Administration Announces Apprenticeship Program
The Maryland Insurance Administration is participating in an apprenticeship program designed to attract talent to the insurance industry. The program is led by Invest, which is affiliated with the Independent Insurance Agents and Brokers of America (The Big I) and …
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Analysis: Insurers Feel Rising Legal Heat for COVID-19 Business Interruption Exclusions
Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he battles for the …
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Massachusetts’ SecureRisk Insurance Agency Joins Satellite Agency Network Group
SecureRisk Insurance Agency has recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. The Burlington, Mass., agency will specialize in small business and offer personal insurance such as home, auto, flood, business, …
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Most Firms Neglected Pandemics in Annual Risk Assessments: Study
The risk of a pandemic was known prior to the current health crisis, yet in disclosing their risk factors to shareholders in 2018, public companies showed little foresight in terms of the impact and likelihood of a pandemic, according to …
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Beazley Hires Underwriting Team to Build Product Recall Insurance Offering
Specialist insurer Beazley is introducing a new product recall insurance policy for private enterprises in the U.S., with a planned launch in the second quarter of 2020. The company has appointed a new underwriting team specifically to support the offering. …
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Zaffino Exits Everest to Join Ascot as Group President
Ascot has announced the appointment of Jonathan M. Zaffino as group president. He will oversee the organization’s U.S. and Bermuda platforms and will also have executive responsibility for Ethos Specialty, a managing general underwriter in the U.S. market. Zaffino has …
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Inside Connecticut’s ‘Ground War’ Against Coronavirus at Nursing Homes
On Main Street in Bridgeport, Connecticut, across the road from a hospital grappling with the coronavirus crisis, a nondescript brick building is playing a key role in the state’s plan to free up acute-care beds and protect its ailing nursing …
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Top States, Cities For Insurance Claims for Hail Damage
Texas leads the nation in insurance claims for hail damage— far outdistancing other states with 23% of loss claims filed over the past three years. The National Insurance Crime Bureau released a three-year analysis of insurance claims associated with hail …
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Floods Hit Canada’s Oil Sands Hub in Fort McMurray, Forcing Some Evacuations
Floods have forced mandatory evacuations in parts of Fort McMurray, the hub for Canada’s oil sands industry, even as the province of Alberta tries to stem the spread of the coronavirus. The Regional Municipality of Wood Buffalo, which includes Fort …
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AXA XL Launches Virtual Risk Assessment Service Called ‘Remote Risk Dialogue’
AXA XL Risk Consulting has launched a new risk assessment service, Remote Risk Dialogue, to continue evaluating loss prevention across business lines amid COVID-19 restrictions. Using data captured from telephone calls, web tools and existing reports, Remote Risk Dialogue enables …
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German Economy Relies on Rhine River – But Levels Are Low Without April Rainfall
Germany’s spring showers haven’t materialized this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their destination. Typically one of the wettest months, Europe’s biggest economy has …
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2020年4月27日星期一
Talcum Lawsuits Against J&J Can Proceed with Testimony Limits
Thousands of plaintiffs who say that Johnson & Johnson’s baby powder and talc products caused cancer can go forward with their claims, but face limits on what expert testimony will be allowed in trials after a Monday ruling by a …
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6 Ways Insurance Brokers Can Be a Resource to Clients During COVID-19 Crisis
Risk managers at companies of all kinds have been forced to rapidly evaluate how the coronavirus pandemic is affecting their businesses. They’ve had to react quickly with limited information while trying to forecast future developments. At the same time, they …
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Employers Hope to Limit Liability by Catching Social Distancing Scofflaws on Video
Stores and workplaces eager to avoid spreading the novel coronavirus are equipping existing security cameras with artificial intelligence software that can track compliance with health guidelines including social distancing and mask-wearing. Several companies told Reuters the software will be crucial …
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$3M Claim in Washington Against Shipper for Damage to Marina and Boats
The Port of Kalama in Washington has filed a claim against the owners and operators of a container ship it believes is responsible for damaging the marina and boats when it passed by at an excessive speed earlier this month. …
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Washington State Officer Files $10M Claim in Wrongful Termination
A former sheriff’s department security officer in Washington state entered negotiations with county officials over a $10 million wrongful termination claim. Eric Salverda worked in the Yakima County Sheriff’s Office security department for 20 years before filing a claim against …
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Suit Filed Against Smithfield Over Working Conditions at Missouri Plant
A lawsuit filed on behalf of workers at a Smithfield Food plant in Missouri claims conditions at the plant are putting workers and the public at risk of contracting the coronavirus. The lawsuit, filed on April 23 by an advocacy …
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FBI Investigates Missouri Islamic Center Fire; Offers $5K Reward
The FBI is offering a $5,000 reward for information leading to the arrest of anyone connected to a fire that badly damaged an Islamic center in southeastern Missouri and that coincided with the start of a holy month for Muslims. …
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Chicago Transit to Pay $3M to Man Who Lost Leg After Being Hit by Bus
The Chicago Transit Authority will pay a $3 million settlement to a man whose leg had to be amputated after he was hit by a turning bus. The Chicago Sun-Times reports a Cook County judge approved the settlement Wednesday between …
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Supreme Court Backs Insurers Over $12 Billion in Obamacare ‘Risk Corridor’ Payments
The U.S. Supreme Court on Monday ruled in favor of health insurers seeking $12 billion from the federal government under a program set up by the Obamacare law aimed at encouraging them to offer medical coverage to previously uninsured Americans. …
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Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties
Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the COVID-19 crisis. In addition, 70% of its global workforce will see a 20% reduction in their salaries, while approximately 30% …
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Lawsuit Says Oregon Restaurant Served Man Fatal Enchilada Meal
A $2.5 million wrongful death lawsuit filed against a Bend, Ore. restaurant says a man died of salmonella after eating tainted chicken enchilada meals. The lawsuit was filed this week in Deschutes County Circuit Court against El Rodeo restaurant by …
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Small Earthquake Confirmed in Southern Oregon
A magnitude-3.1 earthquake struck in southern Oregon near Ashland, the U.S. Geological Survey confirmed. Just before 10 a.m. Friday, the quake rumbled about 10 miles southwest of Ashland at a depth of 1.6 miles, according to the USGS. The agency’s …
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Man Beaten in L.A. Dodgers Parking Lot Sues Team for Negligence
The Los Angeles Dodgers are being sued for negligence by a man who was attacked in the parking lot of Dodger Stadium and left with brain damage, his lawyers announced Friday. The lawsuit, filed this week by Rafael Reyna and …
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Coronavirus Business Interruption Insurance Claimants Seek to Consolidate Lawsuits
Two groups of plaintiffs — one in Philadelphia, the other in Chicago — are asking federal courts to consolidate lawsuits filed by businesses that are seeking coverage for business-interruption losses they claim are caused by coronavirus stay-home orders. Attorneys for …
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Supreme Court Rejects Trump Administration’s View of Clean Water Act
The Supreme Court ruled last week that sewage plants and other industries cannot avoid environmental requirements under landmark clean-water protections when they send dirty water on an indirect route to rivers, oceans and other navigable waterways. Rejecting the Trump administration’s …
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Three More Lawsuits Filed Against Virginia Tech in Hazing Case
Three Virginia Tech students are suing the university in federal court over how it handled allegations that they were involved in hazing. The lawsuits were filed last week by former Corps of Cadets members who say they were denied due …
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Auto Insurers Will Return Approximately $32M in Premiums to N.H. Consumers
At least 23 companies selling auto insurance in New Hampshire are returning premium to their policyholders, New Hampshire Insurance Commissioner Chris Nicolopoulos announced. These companies represent more than 90% of the written auto insurance premium in the state. The premium …
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Worldwide Facilities Hires Caplan as an Assistant Vice President in New York
Worldwide Facilities, a national wholesale insurance broker, managing general agent and program underwriter, has hired Frank Caplan as an assistant vice president in the New York office. Frank has nearly 20 years of experience in the insurance industry, specializing in …
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World Insurance Associates Acquires Connecticut’s Martin & Rowland Insurance
World Insurance Associates LLC (WIA) has acquired Martin & Rowland Insurance Inc. of Prospect, Conn., on April 1, 2020. Terms of the transaction were not disclosed. Established in 1845, Martin & Rowland Insurance Inc. is a full-service, independent insurance agency. …
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UK Insurers Urged by Treasury Committee to Pay Coronavirus Claims
Insurers need to pay out on more claims related to the coronavirus pandemic, according to the head of the UK parliamentary committee that oversees the financial industry. “We are concerned that the insurance sector goes the extra mile in meeting …
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Generali Confident of Rebuffing Takeovers Thanks to Strong Capital, Financial Position
Italy’s top insurer, Assicurazioni Generali, said on Saturday it was confident of being able to rebuff a potential takeover bid, thanks to a “solid” group of core domestic shareholders and a strong capital and financial position. In answers to investors …
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UK Insurers Expected to Pay $1.5B in Coronavirus Claims: Association of British Insurers
British insurers are on the hook for more than 1.2 billion pounds ($1.5 billion) in claims from businesses and individuals hit by the coronavirus pandemic, according to the industry’s trade body. Initial estimates put payments for business interruption at 900 …
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North Carolina Gov Extends Stay-Home Order for 2 Weeks, Unveils Reopen Plan
Resisting pressure as other Southern chief executives begin allowing businesses to reopen, North Carolina Gov. Roy Cooper said Thursday that the state’s stay-at-home order from COVID-19 will remain in place for at least another two weeks. The Democratic governor, who …
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2020年4月26日星期日
Tennessee Insurance Claims from Deadly March Tornadoes Top $1B
More than 15,600 insurance claims seeking more than $1.1 billion have been filed in Tennessee over deadly tornadoes that tore through the state early last month, state officials said Thursday. Tennessee Department of Commerce and Insurance Commissioner Hodgen Mainda told …
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How Chubb Is Navigating Coronavirus and Its Impact on Growth
Chubb Chairman and CEO Evan Greenberg insists his global P/C insurer has strong fundamentals, but warned at the same time that the ongoing pandemic crisis will spur unpredictable revenue challenges affecting many lines of coverage. Broadly speaking, the insurer will …
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U.S. Issues New Coronavirus Safety Guidance for Meat, Poultry Plants
The U.S. Labor Department issued new guidelines on Sunday for U.S. meatpacking and meat-processing plants that have seen a rash of coronavirus outbreaks, saying employees should be spaced at least 6 feet (1.8 m) apart and screened before they start …
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Employees Go Back to Work and Get Covid-19. What’s the Liability Picture?: Opinion
If America is going to restart its economy, at whatever pace, it needs to think about a major roadblock: liability from Covid-19. If a university or workplace reopens, and some employees or students get sick, should they have the right …
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McGriff Insurance Services Hires Cabrera as National Pharmacy Practice Leader in Florida
McGriff Insurance Services has added Denise Cabrera to the firm as National Pharmacy Practice leader in Orlando, Fla. Cabrera will develop and drive the strategic direction for McGriff’s Pharmacy Benefit Practice nationally. In her role, she will provide guidance to …
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2020年4月24日星期五
Some of World’s Largest Companies Warn About Security of Zoom Conferencing App
Some of the world’s largest companies have advised against the use of Zoom Video Communications Inc.’s conferencing app, fueling a growing backlash against a service that shot to prominence during the Covid-19 pandemic. Daimler AG, Ericsson AB and NXP Semiconductors …
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K2 Insurance Agrees to Acquire Pioneer Underwriters’ Portfolio
Pioneer Underwriters, the managing general agency, and K2 Insurance Services LLC, the specialty insurance services holding company, announced they have signed terms for a portfolio transfer, to facilitate K2’s purchase of Pioneer. Under the transaction, Pioneer’s ongoing underwriting portfolio, together …
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Alaska Native Group Sues Neiman Marcus Over Coat Design
An Alaska Native cultural organization is suing luxury retailer Neiman Marcus, saying the company violated copyright and American Indian arts protection laws in selling a knit coat with a geometric design borrowed from indigenous culture. In the lawsuit filed this …
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Randall & Quilter Completes Loss Portfolio Transfer with Repwest in Arizona
Randall & Quilter Investment Holdings Ltd. announced it has entered into a loss portfolio transfer reinsurance contract and a transfer agreement with Repwest Insurance Co. Repwest is based in Phoenix Ariz., and is a wholly owned subsidiary company of AMERCO. …
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Former XFL Commissioner Sues Claiming Wrongful Termination
Former XFL Commissioner Oliver Luck has filed a federal lawsuit claiming he was wrongfully fired by league owner Vince McMahon just before the professional football league shut its doors. The lawsuit, filed last week in Connecticut, alleges the commissioner received …
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Court Approves GM’s $120M Ignition Switch Lost Value Claims Settlement with Owners
General Motors Co. on Thursday won preliminary U.S. court approval of a $120 million settlement with owners who said defective ignition switches caused their vehicles to lose value. U.S. District Judge Jesse Furman in Manhattan granted approval at a hearing …
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Parents of UConn Student Settle Wrongful Death Lawsuit for $1M
The parents of a University of Connecticut student who was run over and killed by a campus fire department truck in 2016 have settled a wrongful death lawsuit against the state and other defendants for about $1 million, according to …
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The Concord Group Announces Plan to Return $2.4M to Policyholders During Pandemic
The Concord Group Insurance Companies has announced a plan to deliver $2,400,000 in return premium and expand several underwriting guidelines and coverage limits to its more than 150,000 policyholders throughout the four New England states in which the company does …
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Pennsylvania Outlines Temporary Licensure Process for Insurers During COVID-19
The Pennsylvania Insurance Department has submitted a notice to all state insurance companies and agencies outlining the process for issuing temporary licenses for Pennsylvania resident insurance producers during the COVID-19 pandemic. “The COVID-19 pandemic is impacting the operations of businesses …
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Reinsurance Rendez-Vous de Septembre Canceled due to Coronavirus Crisis
The 64th Rendez-Vous de Septembre (RVS) in Monaco, which was scheduled to be held Sept. 12-17, has been cancelled due to the uncertainties linked to the coronavirus pandemic. For 63 years, the RVS has brought together leading players in the …
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Some Auto Insurer Premium Discounts Should Be Bigger, Say Consumer Groups
Two consumer groups said on Thursday that some of the largest U.S. auto insurers, including billionaire Warren Buffett’s Geico Corp., are short-changing customers on premium rebates as Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak. …
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Insurance Premium Discounts, Other Accommodations Offered During Coronavirus Crisis
The group of property/casualty insurers offering auto insurance premium discounts to recognize that insureds are driving less during the coronavirus crisis continues to grow, and now includes all major auto insurers. Most discounts are for personal lines auto customers, however …
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College Sports Lack Options of Pro Sports for Getting Back in the Game
While professional sports leagues can ponder plans to isolate their athletes from the coronavirus and have them play in unusual, even secluded places, college sports have no such option. Pro sports leagues can get creative with solutions to save their …
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Pennsylvania’s PMA Companies Names Bell as Senior VP, Chief Financial Officer
PMA Companies, an insurance company headquartered in Blue Bell, Penn., has named Robert Bell as senior vice president and chief financial officer. Bell joined PMA Companies in July 2019 as senior vice president and deputy chief financial officer. He succeeds …
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Everest Re Estimates $150 Million in Pandemic-Related Losses During First Quarter
Everest Re Group estimated pre-tax losses of $150 million during the first quarter from claims related to the coronavirus pandemic. The company expects that the majority of pandemic losses will come from the Reinsurance Segment, although both its reinsurance and …
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French #MeToo Milestone: Court Orders Dentist to Pay Damages for Sexual Harassment
A dentist was ordered by France’s top court to pay damages for sexually abusing a female assistant after the man was cleared of related criminal charges. In a milestone ruling last month, the Cour de Cassation said the bar is …
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5 North Carolina Food Processors Have Employees Infected by COVID-19
Five food processing facilities in the state are each experiencing multiple cases of COVID-19 among employees, North Carolina health officials said Tuesday. A news release from state health and agriculture officials said there are outbreaks of two or more positive …
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Bouknight Joins Insurance Office Of America in South Carolina
Insurance Office of America has added Kip Bouknight to its growing South Carolina team. Bouknight joins IOA as a commercial lines producer serving out of its Columbia, South Carolina, branch office. Before joining IOA, Bouknight served as a vice president …
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2020年4月23日星期四
Disease Experts Are Better Than the Covid-19 Contrarians: Opinion
One of the most vexing questions in life is: Should you trust the experts? The fundamental conundrum is that sometimes the experts make big mistakes — think of medieval doctors who killed their patients by bleeding them. But without expertise …
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5,000 Meat, Food Plant Workers Exposed to Coronavirus, Union Says
More than 5,000 U.S. meat and food-processing workers have been infected with or exposed to the new coronavirus, and 13 have died, the country’s largest meatpacking union said on Thursday. The statistics reflect how the contagious respiratory illness has spread …
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LP Insurance Services Adds McGinty to Nevada Commercial Team
LP Insurance Services LLC has added Lisa McGinty to its southern Nevada commercial team. McGinty has been a commercial insurance broker for more than 35 years. She previously held roles with Liberty Mutual Insurance Co., Aon Risk Services, Marsh & …
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Mississippi Windstorm Insureds Eligible for Fortified Roof Replacement
The Mississippi Windstorm Underwriting Association (MWUA) will now provide – at no cost to homeowners – a FORTIFIED Roof endorsement on eligible new and renewing policies. The new endorsement will apply when a covered claim results in 50% or more …
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Patriot Growth Adds Florida Southern Insurance to Platform
Patriot Growth Insurance Services, LLC has added Florida Southern Insurance, LLC (FSI) to the its platform. The partnership with FSI will enhance Patriot’s existing property and casualty insurance capabilities and further support the platform’s expansion into the Florida marketplace. Based …
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More States Making Plans to Lift Coronavirus Restrictions
More states in the U.S. South and Midwest signaled readiness on Wednesday to reopen their economies in hopes the worst of the coronavirus pandemic had passed, but California’s governor held firm to sweeping stay-at-home orders and business closures. The patchwork …
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Earthquake Hits Croatia, a Month After Another Tremor Causes Damages of $6B
An earthquake rattled Croatia’s capital, a month after a stronger tremor left Zagreb in need of $6 billion for renovation, adding to a growing list of costs as the European Union battles the coronavirus. The 3.5-magnitude temblor on Thursday was …
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Woman Run Over While Sleeping on Sidewalk in Oregon Sues for $450K
A woman who was sleeping on a Portland, Ore. sidewalk when she was run over by a truck operated by a homelessness nonprofit organization has filed a $450,000 lawsuit against the driver. Daphne Taylor is suing driver Warren Schaupp as …
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Light Shaking as M3.7 Earthquake Hit South Los Angeles
Light shaking could be felt across the Los Angeles Basin after a magnitude 3.7 earthquake struck underneath South Los Angeles just after midnight Wednesday. The Los Angeles Times reported the earthquake, that occurred at 12:03 a.m., was calculated as occurring …
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White House Vows Liability Protections for Businesses Facing Coronavirus Claims
Donald Trump’s top economic adviser said the administration will look at limiting liability for businesses over the spread of the coronavirus. “I think liability reforms and safeguards are going to be a very important part of this,” Larry Kudlow, director …
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Tyson Foods Halts Work at Large Iowa Pork Plant to Curb Coronavirus Spread
Tyson Foods Inc. plans to indefinitely suspend operations at its largest pork plant in the United States to contain the rapid spread of the coronavirus, the company said on Wednesday. It said the Waterloo, Iowa plant had already been working …
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Specialist MGA Lions Gate Expands Canada Offering with Environmental Insurance Cover
Lions Gate Underwriting, the Vancouver-based specialist managing general agent, has launched a new Environmental Insurance product as part of its coverage offering. The program is being underwritten by Great American Insurance Group, which backs a number of Lions Gate products, …
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China’s Ping An Reports Q1 Profit Drop of 42.7% on Coronavirus Business Disruption
Ping An Insurance (Group) Co of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its businesses. Ping An, the country’s largest …
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Obsidian Insurance Holdings Hires Larkin as Chief Underwriting Officer
Obsidian Insurance Holdings Inc., a new fronting insurance holding company, has added to its senior management team with the appointment of Dan Larkin as chief underwriting officer. Obsidian was recently formed in partnership with insurance industry executives and Genstar Capital. …
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Preferred Mutual Launches Relief Program for Auto Customers During Pandemic
Preferred Mutual Insurance Company has announced its Stay Home, Stay Assured Auto Program, which will provide more than 65,000 customers with a 15% credit on their April and May personal auto insurance premiums. The credit will be given to New …
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Brokerslink Network Expands in Latin America with Two Broker Affiliates
Global broking business Brokerslink announced the addition of two Latin American affiliates to its network: Asescor S.R.L. Corredor de Seguros (Asescor), based in Bolivia, and CyR Consultores in El Salvador. Asescor, headquartered in Santa Cruz de la Sierra, is a …
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New York Charges Mallinckrodt with Insurance Fraud Over Opioid Claims
New York state brought civil charges on Tuesday accusing Mallinckrodt Plc of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, leading to medically unnecessary prescriptions. Governor Andrew Cuomo said the charges brought by New York’s Department …
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SCOR Global P&C Sees Price Increases of 6.6% During April Renewals
During the April reinsurance renewals, SCOR Global P&C said it grew gross premiums by 5.7% to €504 million, while benefiting from broadly improving market conditions as shown by a 6.6% overall increase in pricing. Asia-Pacific represents 57% of SCOR’s portfolio …
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China Slams Coronavirus Lawsuit Brought by Missouri as ‘Very Absurd’
China on Wednesday slammed a lawsuit brought against it by the U.S. state of Missouri over the coronavirus pandemic as “very absurd.” Foreign ministry spokesman Geng Shuang said the legal action has “no factual and legal basis at all” and …
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2020年4月22日星期三
Governor Aims for South Carolina to Recover ‘More Quickly Than Any Other State’
South Carolina’s governor is rolling out details of a program that his office says will allow the state’s economy to “recover more quickly than any other state’s in the country” from the new coronavirus outbreak. Gov. Henry McMaster on Monday …
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Oregon Fines Aerospace Company $70K for Waste Mishandling
The Oregon Department of Environmental Quality has fined a manufacturer of parts for the aerospace industry near Albany more than $70,000 for citations related to its mishandling of hazardous waste materials. A Selmet company spokesman did not return an email …
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Georgia Gambles on Reopening Business Amid Pandemic
A handful of mostly southern U.S. states will begin loosening economic restrictions this week in the midst of a still virulent pandemic, providing a live-fire test of whether America’s communities can start to reopen without triggering a surge that may …
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Travelers, W.R. Berkley CEOs Sound Alarm Over Coronavirus Lawsuits, Workers’ Comp
During an earnings conference call Tuesday, the leader of Travelers insurance alerted listeners to the possibility that frivolous lawsuits by plaintiffs lawyers could slow down the economic recovery from COVID-19 shutdowns. Alan Schnitzer, whose company reported net income of $600 …
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Philadelphia Insurance Cos. Names Burgess Regional VP of Marketing for Rocky Mountains
Philadelphia Insurance Cos. has named Yvonne Burgess regional vice president of marketing for the company’s Rocky Mountain region. Based in the company’s Englewood, CO office, she has been responsible for overseeing sales team members, achieving her own production goals, and …
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Georgia Businesses May Be Slow to Reopen Despite Governor’s Encouragement
Gov. Brian Kemp’s call to reopen shuttered businesses in Georgia left many business owners wary and confused this week as they considered how to protect themselves and their customers in a state where coronavirus deaths exceed 800 and confirmed infections …
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CoreLogic: Rebuilding Costs from Southeast Tornado Outbreak Total Nearly $3B
The more than 86 tornadoes that ravaged through the Southeast earlier this month caused damage to 23,448 structures with a reconstruction value estimated at $2.95 billion, according to CoreLogic. CoreLogic said more than 40,000 structures were affected across all regions …
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North Carolina Regulator Offers Agent Licensing Options During Shutdown
The North Carolina Department of Insurance (NCDOI) is taking steps to continue licensing insurance agents in the state as quickly as possible amid the shutdown of application processing centers due to the pandemic, according to a statement. Working with Pearson …
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AssuredPartners Acquires Transportation Insurance Advisors of Florida
AssuredPartners, Inc. has acquired Transportation Insurance Advisors, LLC located in Sanford, Fla. The team of 55 will remain under the operational leadership of Scott Light. The agency currently reports $14 million in annualized revenues. According to Light, the agency works …
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Wisconsin Real Estate Company to Pay $75K Fine in Iowa Asbestos Case
A Milwaukee, Wisconsin, real estate company will pay $75,000 to Iowa for violating several asbestos regulations at one of its former buildings in Newton, the Iowa Attorney General’s office announced. Phoenix Investors LLC, agreed to a consent order on April …
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Some Onsite Agent, Adjuster Licensing Exams Now Available in Texas
Texas insurance regulators say agents and adjusters can now take licensing exams at select sites in the state. The testing locations for Pearson VUE, the state’s testing contractor, had previously been closed do to the COVID-19 pandemic. The Texas Department …
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Chubb Reports Q1 Net Income Drop; Sees ‘Meaningful’ Coronavirus Impact Ahead
Chubb said that the coronavirus pandemic’s effects on its bottom line were relatively benign in the 2020 first quarter. But all bets are off for the months ahead. The global property/casualty insurer reported net income of $252 million, or $0.55 …
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PG&E’s Bankruptcy Plan Heads Toward Approval in California
California regulators are being advised to approve Pacific Gas & Electric’s plan to emerge from bankruptcy with new controls designed to prevent a recurrence of the utility’s past bad behavior that has resulted in deadly wildfires, infuriating blackouts and high …
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Families Sue Helicopter Company in California in Kobe Bryant Crash
Family members of four passengers killed in a helicopter crash with Kobe Bryant and his daughter have joined the NBA star’s widow in filing wrongful death lawsuits against the companies that owned and operated the aircraft. The suits on behalf …
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Insurtech ‘Babel Cover’ Collaborates with Maltese Insurer Atlas to Offer Bicycle Insurance
Babel Cover, a British insurtech start-up, is working with Maltese insurer Atlas and emerging technology firm Piprate to insure bicycles of competitive cyclists, triathletes and commuters of Malta. The intention of the pilot is to perform live and controlled product …
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First Pitch: Fans Sue Major League Baseball Teams, Ticket Vendors for Refunds
A pair of fans in New York sued Major League Baseball, Commissioner Rob Manfred and the 30 teams, asking for their money back for tickets and for certification of class-action status. The lawsuit was filed Monday in U.S. District Court …
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Putting Autonomous Driving Back on the Road: Roundtable
The self-driving car was a dream deferred even before the Covid-19 outbreak brought the U.S. economy to a standstill. By early 2020, plans to launch robotaxi services had been pushed back or scaled down as excitement over driverless cars gave …
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Broker NFP Buys UK’s Johnson Fleming Group Ltd.
NFP Corp., the New York City-based insurance broker and consultant, announced the acquisition of Johnson Fleming Group Ltd. and Johnson Fleming Future Life Planning Ltd. (together, Johnson Fleming). The transaction closed on Jan. 17, 2020 for an undisclosed sum. Johnson …
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Massachusetts’ C&S Insurance Hires Quealy, Trabulsie, McLaughlin to Executive Team
Massachusetts’ C&S Insurance has hired Chuck Quealy, Kelly Trabulsie and Eric McLaughlin to its team. McLaughlin, who comes aboard as a partner and executive vice president, brings more than 10 years of insurance sales experience to the C&S family, along …
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Pennsylvania’s Erie Insurance Announces $200M in Relief for Customers
Erie Insurance, based in Erie, Penn., will provide $200 million in dividends directly to personal and commercial auto insurance customers in the 12 states and the District of Columbia where the company does business. This relief represents about 30% of …
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New Jersey-Based AIG Director Delaney Joins Board for Virginia’s Invest
Invest, an insurance industry classroom-to-career education program, has named Diane Delaney, assistant vice president and sales and marketing director for AIG Private Client Group, as its newest board member. Delaney is based in New Jersey and is responsible for overseeing …
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Sompo Int’l Forms Agricultural Insurance Partnership with Portuguese MGA ATLAS
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that its global agriculture platform, AgriSompo, has entered into a partnership with Portuguese managing general agent ATLAS Segurmina, to offer innovative crop insurance solutions …
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Hannover Re, Parent Firm Talanx Withdraw 2020 Profit Guidance on Virus Uncertainties
In view of the ongoing COVID-19 crisis and the associated uncertainties surrounding both the claims development and the capital market environment, Hannover Re and its parent company, Talanx, have withdrawn their profit guidance for 2020. “It is still too soon …
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Aon’s Reinsurer Trading Portal, ABConnect, Receives Accreditation from Lloyd’s
Insurance and reinsurance broker Aon has received accreditation from Lloyd’s for its reinsurer trading portal, ABConnect Placements. Following the recent deployment of Aon’s binding function, the Lloyd’s Franchise Board provided “conditional recognition” of Aon’s ABConnect Placements platform so valid contracts …
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Conspiracy Theorists Set Fire to Europe’s 5G Network Towers, Claiming Link to COVID-19
The CCTV footage from a Dutch business park shows a man in a black cap pouring the contents of a white container at the base of a cellular radio tower. Flames burst out as the man jogs back to his …
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Brokerslink Network Strengthens African Presence with Broker in Republic of Congo
Global broking business Brokerslink has announced the addition of African broker Gramon to its international network. Based in Brazzaville, Congo, the broker strengthens Brokerslink’s presence in the Africa region, an area of strategic significance to the organization. Established in 2012, …
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Georgia Governor Gives Certain Businesses Greenlight to Reopen Friday
Georgia’s governor announced plans Monday to restart the state’s economy before the end of the week, saying many businesses that closed to mitigate the spread of the coronavirus could reopen as early as Friday. The governor in neighboring Tennessee planned …
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Florida Dive Shop Alleges Insurer Breach of Contract, Bad Faith in BI Coverage Denial Suit
A dive shop in South Florida is one of the first businesses in the state to file suit against its insurer for the denial of a business interruption claim initiated because of the current coronavirus pandemic. The lawsuit, Mace Marine …
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2020年4月21日星期二
Mutual Insurance Company of Arizona Declares $12M Dividend to Help in COVID-19 Pandemic
Mutual Insurance Company of Arizona has declared a special dividend designed to provide economic relief to its members. The company will distribute a $12 million dividend to all members with policies in-force as of April 30. The dividend will be …
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North Carolina Farm Bureau Insurance to Give Insureds 20% Dividend on Auto Premiums
North Carolina Farm Bureau Insurance will provide a 20% dividend payment to its automobile policyholders for April and May 2020 in light of the COVID-19 pandemic. The company announced the “Here for You Promise” 20% dividend was approved by its …
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When Companies Need to Report They Have Infected Workers: Q&A
Almost all U.S. companies are likely to include in their quarterly filings broad statements on risks the ongoing coronavirus pandemic poses to their businesses. Should they be disclosing more? Smithfield Foods Inc., the world’s biggest pork processor, recently announced it …
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Latest Class Actions Over Business Interruption Target 6 Insurers
A Minnesota dentist, an Ohio bridal shop and a New York pizzeria are among six small businesses that are the latest to sue insurers seeking compensation for business interruption claims due to the coronavirus crisis. The lawsuits, which are class …
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TWFG Acquires Personal, Commercial Business of Texas’ Panoptic Insurance
TWFG Insurance Services LLC (TWFG) has acquired the personal and commercial insurance business of The Woodlands, Texas-based Panoptic Insurance. The acquisition is effective April 17, 2020. Panoptic Insurance,founded in 2008 by Arden Hetland, is a national independent insurance agency that …
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Iowa Beef Plant Reopens After 177 Workers Test Positive for Virus
An Iowa beef processing plant that was idled after a coronavirus outbreak resumed production Monday, one day after the state said 177 workers there have tested positive. The Iowa Premium plant in Tama, owned by National Beef, had suspended production …
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California Worker’s Comp Rating Bureau Submits Special Filing in Response to COVID-19
The Workers’ Compensation Insurance Rating Bureau of California has submitted a special regulatory filing to the California Insurance Commissioner with proposals to address the COVID-19 pandemic. The WCIRB governing committee last week voted unanimously on the special regulatory filing. The …
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North Dakota Insurance Commissioner: Online Producer License Testing Now Available
An online, remotely proctored testing application called ProProctor, offered by Prometric, the producer licensing testing and assessment provider for North Dakota, is now available in that state, according to North Dakota Insurance Commissioner Jon Godfread. Individuals who want to sell …
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Nuclear Plants Allowed to Extend Workers’ Hours, Delay Inspections
Nuclear power plants can now implement longer shifts for workers and delay some inspections, raising concerns that as the coronavirus pandemic upends basic operations the industry may be bending the rules too far. The Nuclear Regulatory Commission is already allowing …
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California Details Nursing Homes with COVID-19 Outbreaks
California has for the first time released details about nursing homes facing coronavirus outbreaks, with three facilities in Los Angeles among the hardest-hit, as the numbers of COVID-19 cases and deaths across the state continued to rise. The Department of …
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AXA XL Forms New Leadership Team, Aims to Restructure with Regional Business Units
AXA XL announced a new leadership team and proposed changes to the operating model of its Insurance business following a strategic review. Key proposed changes to the operating model include the creation of a single global insurance Underwriting Function and …
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The Hilb Group Hires Tarmey as a Producer in Rhode Island
The Hilb Group LLC (THG) has acquired a book of business from CBIZ Inc. and hired Business Unit President Peter Tarmey as a producer. The transaction became effective April 1, 2020. Based in Cranston, R.I., Tarmey will join THG’s New …
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Businesses Press Congress for Immunity When States Lift Coronavirus Lockdowns
Major U.S. business lobbying groups are asking Congress to pass measures that would protect companies large and small from coronavirus-related lawsuits when states start to lift pandemic restrictions and businesses begin to reopen. Their concerns have the ears of congressional …
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Investigation Begins into Cause of Massive Paper Mill Blast in Maine
State and federal investigators began searching Thursday for the cause of a paper mill explosion that shook the ground and sent debris and a slurry of chemicals raining down on nearby cars and buildings. Elation over the stunning news that …
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From Google to Webex to Teams to Zoom: How to Choose a Videoconferencing App
The coronavirus crisis has seen millions locked in their homes turn to videoconferencing apps, bringing with it question marks over security and privacy and a new verb – Zoombombing – the practice of uninvited users crashing into conversations. From easy-access …
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New York Nurses Sue State and Two Hospitals Over ‘Inadequate’ Virus Protection
The New York State Nurses Association sued the state and two hospitals on Monday to force them to provide equipment and adopt safety measures to prevent the spread of COVID-19 among the association’s members in the hard-hit state. The association …
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Travelers, Law Firm Insured Spar Over Civil Authority Business Income Loss Claim
Travelers Cos. has gone to federal court in California seeking a declaratory judgment that it is not obligated to pay any business income losses of a law firm it has insured under two business owner policies. Its law firm insured, …
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Swiss Re Corporate Solutions Appoints Grass as CFO, Succeeding Mueller
Swiss Re Corporate Solutions appoints Matthias Grass as chief financial officer, where he will be responsible for ensuring the Swiss Re business unit achieves its financial targets and implements its strategy. He will oversee a team of around 200 finance …
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Beazley Gets Approval to Launch Malaysia Company to Build Asia Pacific Distribution
Specialist insurer Beazley has extended its distribution capabilities in Asia Pacific following the authorization by the Labuan financial regulator of a new service company. The new company, Beazley Labuan Ltd., will support Beazley in building its presence in the Malaysian …
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UniCredit Hackers Try to Sell Employee Data on Cyber-Crime Forums
Data on about 3,000 UniCredit SpA employees was put up for sale on cyber-crime forums after a hacking attack. The data went on sale on April 19 and contained what the hacker said was information on UniCredit workers, including emails, …
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Ferrari Provides Coronavirus Tests so Employees Can Return to Work
Workers at Ferrari are signing up en masse for voluntary coronavirus screening so they can return to work as soon as possible in an ambitious scheme that could serve as a blueprint for manufacturers desperate to resume production. Under its …
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Danish Insurer Tryg Expects Wave of Travel Claims as Customers Cancel Holidays
Danish insurer Tryg expects to be hit by a wave of travel insurance claims as customers cancel their summer holidays due to travel restrictions imposed to tackle the coronavirus pandemic, it said on Tuesday. Denmark’s biggest insurance company said it …
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UK Insurance Industry Leaders Form Steering Group to Propose Pandemic Response, Chaired by Catlin
UK Insurance industry leaders have combined to form a steering group, which will work with terrorism reinsurer Pool Re, with the primary objective to ensure that, working alongside the industry to support customers and communities in the current crisis, the …
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4 Tyson Foods Poultry Workers in Georgia Die of Coronavirus
Four employees of a major poultry producer’s operations in rural southwest Georgia have died after becoming infected with the coronavirus, a company spokesman said Friday. Tyson Foods spokesman Gary Mickelson said three of the employees worked at the company’s chicken …
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South Carolina: Hurricane Response Plan a ‘Good Question’ Amid Virus Outbreak
With hurricane season less than two months away, officials in South Carolina said they don’t yet have a good plan in place if a storm hits during the coronavirus outbreak, particularly for people potentially displaced from their homes in the …
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On the Front Lines: Georgia Insurance Commissioner Deployed by National Guard
Georgia Insurance Commissioner John F. King has been on the front lines during times of crisis for the United States for most of his career. A former Georgia police chief and current Major General in the U.S. Army National Guard, …
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2020年4月20日星期一
States Easing Path to Workers’ Compensation Benefits for Coronavirus Workers
Sympathetic state lawmakers and regulators in states both red and blue promise to make COVID-19 a major cost driver for workers’ compensation insurers. The governors of Kentucky, Arkansas, North Dakota and Florida and state regulators in Illinois, Washington, Michigan and …
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Missouri Lawsuit: Christian Ministries Aliera, Trinity Healthshare Pushed Deceptive Plans
A Christian health care sharing ministry sold “inherently unfair and deceptive health plans” to Missouri residents and failed to provide them with coverage, a class action lawsuit alleges. The federal lawsuit against Aliera Companies and Trinity Healthshare comes as millions …
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Supreme Court Sides with BP Unit to Curtail Montana Superfund Cleanup Suits
The U.S. Supreme Court on Monday threw out a lower court ruling that had allowed litigation by Montana landowners to proceed against BP Plc unit Atlantic Richfield Co. seeking a more extensive cleanup of a hazardous waste site than the …
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British Court Awards $11 Million to EY Whistleblower Who Exposed Money Laundering
A British court awarded $11 million in damages and expenses on Friday [April 17] to a former partner at global accounting firm Ernst & Young who exposed money laundering at a major gold refinery in the United Arab Emirates. Amjad …
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UK Insurers in Talks with Government About Creating Trade Credit Backstop
British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …
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Oregon Nursing Home Reports 14 Virus Deaths, State Finds Violations
Workers at a Portland, Ore. nursing home that has reported 14 coronavirus deaths failed to wash their hands, didn’t use protective masks properly and weren’t trained on how to control the spread of infection, the state said Thursday. Healthcare at …
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Lawsuit Seeking Greater Protections for Washington Farmworkers
Advocates for farm workers in Washington state have filed a lawsuit against the state seeking safer working conditions as the harvest season begins amid a coronavirus pandemic. Thousands of workers are already pruning grapevines and fruit trees and getting ready …
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Layoffs, Small Business Exits Are Likely Major Coronavirus Effects on Workers’ Comp: NCCI
A new analysis of the economic effects of the coronavirus finds that while layoffs of workers will have the most immediate effect on workers’ compensation, a rise in business failures could pose a major challenge later. Unemployment claims for the …
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Next Up, Locusts? Maine Had Five Potential Disasters in a Week
A third of the state lost power because of a freak snowstorm and a powerful windstorm as residents were locked down because of the pandemic. Rivers swelled because of heavy rain. Then an explosion ripped through a paper mill. It …
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Massachusetts’ Miniter Group Hires Adams as VP of Operations and Tracking
Miniter Group has hired Kelly Adams as the vice president of Operations and Tracking. Adams will be responsible for the overall management of Miniter’s Borrower-Centric insurance tracking operations in this role. Before joining Miniter Group, Adams had 20 years of …
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Equifax to Pay $18M Over Data Breach Affecting Nearly Three Million Mass. Residents
One of the largest consumer credit reporting agencies in the country has agreed to pay $18.2 million and undertake significant injunctive relief following a massive data breach in 2017 that compromised the personal information of nearly three million Massachusetts residents, …
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Employers May Exclude Payroll to Employees Not Working for Workers’ Comp: NCCI
Businesses that have suspended operations due to COVID-19 but continue to pay employees who are at home but not working will not have to include the payroll paid to these employees in the calculation of their workers’ compensation premium. The …
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Lloyd’s Gathers Business Interruption Data for UK Regulator
Lloyd’s of London is collating details of insurers’ business interruption coverage for the Prudential Regulation Authority and is in discussions about a government backstop to cover future pandemics, it said in a letter seen by Reuters. It asked its members …
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Amazon Extends French Warehouse Closures on COVID-19 Safety Dispute with Workers
Amazon will keep its six warehouses in France closed until at least April 22 after a stand-off with unions over sanitary conditions amid the coronavirus outbreak, it said on Sunday. The Seattle-based e-commerce giant has been under scrutiny over its …
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Notre Dame Restoration Halted by Coronavirus
Notre Dame Cathedral stands crippled and alone, locked in a dangerous web of warped scaffolding one year after a cataclysmic fire gutted its interior, toppled its famous spire and horrified the world. Some of the 40,000 metal bars — erected …
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CyberCube Releases New Edition of Cyber Accumulation Model
CyberCube, the cyber analytics provider for the insurance industry, has released an updated version of Portfolio Manager, the cyber risk modeling platform. Portfolio Manager allows insurers to stress test re/insurance portfolios against a range of systemic cyber-related scenarios, including data …
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Pandemic Crisis Story: Moving 1000-Plus Employees in 7 Countries in Just 2 Weeks
Amit Tiwari, chief operating officer at Xceedance, the Boston-based insurance consulting, managed services, and insurtech company, explains the challenges of enabling business continuity plans in the face of a global pandemic and moving an international workforce of well over a …
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Mississippi Disaster Declaration Approved for Easter Storms
President Donald Trump has approved a disaster declaration for Mississippi for strong storms that struck the state on Sunday, April 12, including several tornadoes. The storms swept through several states from Texas to Maryland on Sunday and Monday, killing at …
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TDI Modernization Efforts Paying Off During Pandemic, Commissioner Says
The employees of the state agency in charge of regulating the insurance industry in Texas might not put it this way, but in a sense, operationally at least, they have been preparing for the current health crisis brought on by …
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2020年4月19日星期日
New E-Book, Online Guide Aims to Help Insurance Agencies Deal with Disruptions
Tony Caldwell, CEO of the Oklahoma-based agency network One Agents Alliance, has collaborated with two other insurance agency leaders and developers to create a, e-book and online resource guide to provide independent insurance agents across the country with steps and …
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Businesses Fear Lawsuits from Sick Employees, Patrons After Reopening
Whenever U.S. stores, restaurants and theaters reopen from coronavirus shutdowns, they may face an unexpected problem: lawsuits from sick patrons and workers. Business owners hit hard by Covid-19 are eager to get back to work as the outbreak shows signs …
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White House Moves to Weaken EPA Rule on Toxic PFA Compounds in Consumer Products
The Trump White House has intervened to weaken one of the few public health protections pursued by its own administration, a rule to limit the use of a toxic industrial compound in consumer products, according to communications between the White …
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South Carolina Insurance Dept. Makes Staff Changes, Names New Deputy Directors
The South Carolina Department of Insurance will be implementing a variety of organizational changes that will become effective May 1, 2020. These changes include: Joe Cregan has been named chief deputy of Insurance Operations. In this role, Cregan will directly …
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Cowbell Cyber Adds Social Engineering Coverage, Opens Platform to Non-Insureds
Cowbell Cyber, a startup insurtech using artificial intelligence (AI)-powered cyber insurance for small to mid-sized businesses (SMBs), has added social engineering coverage to its Cowbell Prime 100 cyber insurance product. The update mitigates financial losses from phishing or fraudulent emails. …
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2020年4月17日星期五
Coronavirus Confirmed on Offshore Oil Platforms in Gulf
The new coronavirus that causes COVID-19 has been confirmed in more than two dozen people working on oil platforms in the Gulf of Mexico, the Coast Guard said. While an offshore rig might seem like an unlikely place for the …
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Midwest Insurance Agency Alliance Adds Stallard as Agency Development Specialist
Midwest Insurance Agency Alliance Inc. (MIAA), based in Lincoln, Neb., has hired Sam Stallard as an agency development field specialist for Kansas and Missouri. Stallard will be directly responsible for agency development and consulting services of MIAA member agencies in …
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Tyson Foods: 2 Iowa Pork Plant Employees Dead After Virus Outbreak
Two employees have died following a coronavirus outbreak that has sickened scores of Tyson Foods workers at a large pork plant in southeastern Iowa, the company said. The deaths of the workers at Tyson plant in Columbus Junction are the …
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Louisiana Extending License Renewal Dates for Insurance Agents, Adjusters
The Louisiana Department of Insurance says a new emergency rule extends the renewal dates for licenses of insurance producers and adjusters who have been negatively impacted by the business closures brought on by the COVID-19 pandemic. Emergency Rule 44 applies …
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Hacking Attacks Against Corporations Double as Employees Work From Home
Hacking activity against corporations in the United States and other countries more than doubled by some measures last month as digital thieves took advantage of security weakened by pandemic work-from-home policies, researchers said. Corporate security teams have a harder time …
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4.2 Magnitude Aftershock Hits Utah
Some Utah residents felt the largest aftershock yet since the 5.7 magnitude quake hit in March, officials said. The University of Utah Seismograph Stations reports Tuesday night’s “light” earthquake of magnitude 4.2 was in the northwester Salt Lake Valley near …
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New Mexico Mom Suing Company for Overturned Bounce House That Trapped Children
A Santa Fe, N.M., woman is suing Meow Wolf after she says her children were injured when wind overturned the arts and entertainment company’s rented-bounce house. The Santa Fe New Mexican reports attorneys for Anita Vargas didn’t say in court …
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California Nursing Home Reports 154 Virus Cases, 8 Deaths
A Central California nursing home has 154 cases of the coronavirus and eight residents have died in one of the largest single outbreaks in the state, it was reported. The numbers reported by Redwood Springs Healthcare Center in Visalia, a …
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Unico in California Offering Covid-19 Suspended Operations Insurance
Calabasas, Calif.-based Unico American Corp. announced that in response to the forced closure of so many small businesses due to the Covid-19 situation in California, Unico’s general agency subsidiary, Unifax Insurance System Inc., is now offering a Suspended Operations insurance …
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Mass. Attorney General Calls on Division of Insurance to Lower Auto Premiums
Massachusetts Attorney General Maura Healey’s office has called on the Massachusetts Division of Insurance (DOI) to direct all auto insurance companies doing business in the state to lower premiums during the COVID-19 pandemic. In a letter sent Monday to Massachusetts …
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Insurers’ Pause of Dividends Likely Shows Caution, Rather Than Credit Risks: S&P
Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won’t have to worry about their credit quality, S&P Global Ratings said in a recent report. “Insurers’ decision to curb …
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Explosion Causes Significant Damage to Maine Paper Mill; No Injuries
An explosion at a paper mill in Maine shook the ground Wednesday and produced a plume of black smoke that was visible for miles around, but it appeared no one was injured. The blast rocked the Androscoggin Mill in Jay, …
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New York’s NYCM Insurance Announces Credit to Auto Policyholders
NYCM Insurance will be issuing a credit to its approximately 230,000 auto policyholders. All auto policyholders as of April 30, 2020, will receive a 15% credit back from their April and May premiums. Customers will not need to do anything …
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European Risk Mgmt Group FERMA Supports National Backstops for Future Pandemics
The Federation of European Risk Management Associations (FERMA) support the development of government backstops to increase financial resilience against future pandemic risks – similar to what already exists in many countries for terrorism and natural catastrophes. While many European businesses …
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Get Too Close, Get Buzzed. Ford Tests Wearables to Keep Workers at Safe Distances.
A dozen Ford Motor Co. workers are experimenting with wearable social-distancing devices that could be deployed more widely once the carmaker reopens idled manufacturing plants. The small group of volunteers at a Ford factory in Plymouth, Michigan, are trying out …
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New Business Interruption Insurance Poses Risks to Chinese Insurers, Says Fitch
At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended consequences. Fitch Ratings cautions that the move could pose risks to the …
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Amazon Shuts Warehouses in France over Worker Safety During COVID-19 Crisis
Amazon has no clarity yet on when its warehouses in France might reopen, the head of its French business said on Thursday, after the e-commerce giant clashed with unions over the measures taken to limit the risks of coronavirus contagion. …
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Facebook Revamps Its Libra Cryptocurrency in Response to Regulatory Backlash
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval. The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense scrutiny …
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Coronavirus Will Cause ‘Massive’ Losses Across Insurance Industry, Says Allianz CEO
Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses across the industry. The virus has forced closures across the entire economy and not just in a limited number of …
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South Carolina Lakeside Restaurants Sued for Over Serving by Family of Boat Crash Victims
Family members of a South Carolina boat crash victim are suing two restaurants accused of serving too much alcohol to the man charged with causing the crash. The lawsuits filed Tuesday allege that the restaurants on Lake Murray served suspect …
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2020年4月16日星期四
FBI Says Foreign Government Hackers Target Coronavirus Treatment Research
A senior FBI cybersecurity official said on Thursday that foreign government hackers have broken into institutions conducting research into treatments for COVID-19, the sometimes fatal respiratory illness caused by the new coronavirus. Federal Bureau of Investigation Deputy Assistant Director Tonya …
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As Attacks Rise, Paladin Offers Cybersecurity Platform Free to Insurance Agencies
Paladin Cyber is offering independent agents and brokers throughout the U.S. free one-year enrollment in its Paladin Shield cybersecurity platform. The offer is in response to more employees working at home and a sharp rise in cyber attacks related to …
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Chubb CEO Greenberg Warns Retroactive Measures Would ‘Bankrupt’ Insurance Industry
Chubb Ltd. Chief Executive Officer Evan Greenberg has a stark warning for policy makers pushing insurers to pay out some uncovered business-interruption losses. “The insurance industry is a fundamental part of the economic plumbing of this country,” Greenberg said in …
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Washington Attorney General Sues Facebook Over Campaign Ads
Washington state is suing Facebook – again – for selling political ads without disclosing all necessary information about who’s behind them. Attorney General Bob Ferguson first sued Facebook over the issue in 2018, with the company agreeing to a $238,00 …
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PG&E’s Plan to Pay $19M from California Wildfire Victims Fund OK’d
The Northern California victims of catastrophic wildfires caused by Pacific Gas & Electric’s decaying electrical grid will have at least $19 million siphoned way from a $13.5 billion fund for their losses to cover administrative costs. A bankruptcy judge said …
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Fears of ‘Wild West’ as Unregulated COVID-19 Tests Hit the Market
Blood tests for the coronavirus could play a key role in deciding whether millions of Americans can safely return to work and school. But public health officials warn that the current “Wild West” of unregulated tests is creating confusion that …
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Progressive Gives $2M to Big ‘I’ Fund to Aid Agencies Affected by Coronavirus Crisis
Progressive Insurance has donated $2 million dollars to establish the Trusted Choice COVID-19 Relief Fund in response to the economic and operational challenges the coronavirus crisis has presented to independent agencies. The grant will be dispersed directly to independent agencies …
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Analysts See Auto Insurers’ Coronavirus Rebates As a Solid Short-Term Move
Auto insurers have seen something new with the coronavirus pandemic: an historic reduction in driving due to millions of customers staying home and sheltering in place. That change led to carriers issuing between $8 billion and $10.5 billion in customer …
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Utica National Provides Insurance Premium Payback to Personal Auto Customers
As a result of changing driving habits due to the COVID-19 pandemic, the member companies of the Utica National Insurance Group have announced that they will provide policyholders with a 15 percent payback of their personal auto insurance premiums for …
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Judge Clears Way for Shareholder Suit Against Tesla, Musk Over Going-Private Tweet
A federal judge said Tesla Inc. and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction. U.S. …
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Harvard Professor Drops ‘Clickbait’ Lawsuit After NYT Alters Story
A Harvard University law professor dropped his defamation lawsuit against The New York Times on Monday after the newspaper changed the headline and first paragraph in a story relating to his views about donations from financier Jeffrey Epstein. In the …
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AIR Worldwide Launches Free COVID-19 Catastrophe Modeling Tool
AIR Worldwide has launched a free COVID-19 catastrophe modeling tool, one that predicts cases and offers death projections for the weeks ahead. The company said its COVID-19 Projection Tool, designed with AIR’s pandemic modeling data, will provide COVID-19 case and …
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Alera Group Acquires Maryland’s Georgetown Insurance Service
Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, has acquired Georgetown Insurance Service Inc., effective March 1, 2020. The Georgetown Insurance team will continue serving clients in their current roles following the acquisition. …
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Arch Capital’s Estimated COVID-19 Losses During 1st Quarter Could Hit $145 Million
Arch Capital Group Ltd. said its estimated pre-tax losses for claims incurred due to the COVID-19 pandemic could reach $145 million. Breaking down the total, Arch said COVID-19 claims across its property casualty insurance and reinsurance segments ranged from $85 …
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New York Taps McKinsey to Develop ‘Trump-Proof’ Economic Reopening Plan
New York Governor Andrew Cuomo has hired high-powered consultants to develop a science-based plan for the safe economic reopening of the region that can thwart expected pressure from President Donald Trump to move more rapidly, state government sources told Reuters …
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UK Insurers, Banks Are Weathering Effects on Capital of COVID-19 Crisis: BoE’s Woods
Britain’s banks have enough funds to keep lending to the economy even under the deep recession scenario outlined by a government watchdog, Bank of England Deputy Governor Sam Woods said on Wednesday. The BoE has allowed banks to tap 23 …
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Pandemic Bonds Get Stay of Execution but Prospect of Wipeout Looms
A ruling last week not to wipe out holders of a World Bank financial instrument providing emergency funds to poor countries in a pandemic, was just a stay of execution if bond markets are to be believed. The riskier $95 …
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Beazley Appoints Greenwood as Head of Cyber & Executive Risk, Succeeding Donovan
Specialist insurer Beazley has appointed Bethany Greenwood as global head of cyber & executive risk (CyEx) from July 2020. She will join Beazley’s executive committee at the same time. Greenwood joined Beazley last September to lead the London market and …
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Hiscox Says Its Business Interruption Exposure Is Limited in Europe, U.S.
Hiscox’s core policy wordings do not provide cover for business interruption as a result of the general lockdown measures taken by the UK government in response to the coronavirus pandemic, said the company in a market update about its business …
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Howden Broking Group Buys Greece’s Matrix Insurance & Reinsurance Brokers
Howden Broking Group, the London-based independent specialty broker, announced it has acquired Matrix Insurance and Reinsurance Brokers in Greece. Financial details of the deal were not disclosed. Founded in 2003 and headquartered in Athens, independent broker Matrix became a broker …
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Florida to Aggressively Test Nursing Home Patients, Staff
Florida Gov. Ron DeSantis said Monday the state will more aggressively inspect nursing homes to detect patients and staff who are infected with the coronavirus while officials said it appears the disease’s expansion in the state may be reaching a …
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South Carolina Begins Clean Up After At Least 9 Tornadoes Hit State
South Carolina continued to clean up Tuesday from the state’s deadliest tornado outbreak in 36 years. Nine people were killed as a series of twisters moved from one end of the state to the other Monday morning. Meteorologists have counted …
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Brightway Insurance to Offer Deferred Cost Option to New Franchisees During Pandemic
Brightway Insurance has made changes to its franchise contract in a move that is designed to make it easier to attain franchise ownership during the current coronavirus pandemic. According to Brightway President and CEO Michael Miller, the company will offer …
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2020年4月15日星期三
Why Leaders Need to Resist Rewriting Insurance Contract Language
Soon after the attacks on the World Trade Center and other locations on the morning of September 11th, President Bush declared that the atrocities were “an act of war.” That statement prompted a call to me from a friend and …
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Farmers in California Names Conte Head of Exclusive Agent Distribution
Woodland Hills, Calif.-based Farmers Insurance has named Krista Conte head of exclusive agent distribution. Conte joins Farmers after more than 15 years at Allstate, where she was most recently field vice president in the California region. Farmers Insurance Group is …
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Mastos Was a Staple in Nevada’s Insurance Community
Louis T. Mastos was stepped in myriad sectors of Nevada’s insurance community, and he was someone who early on recognized the value of surplus lines, those who knew him say. Mastos, who served as Nevada’s second insurance commissioner, died on …
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Montana Seeking $43M in Disputed Tobacco Settlement Payments
Montana is asking a judge to force a group of tobacco companies to make more than $43 million in payments to the state that they have disputed over the past 15 years, Attorney General Tim Fox said this week. The …
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MAPFRE Launches Staying Home Refund for Policyholders During Pandemic
MAPFRE Insurance has announced its Staying Home Refund program, which will return 15 percent of April and May premium to its voluntary personal auto policyholders in Massachusetts, totaling more than $30 million. On average, most policyholders will receive a credit …
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Massachusetts’ Safety Insurance to Reduce Auto Premiums During COVID-19 Pandemic
Safety Insurance has announced a premium reduction plan and several other steps to meet policyholder and community needs during the ongoing COVID-19 pandemic. The Safety Personal Auto Relief Credit offers eligible Safety Insurance personal auto policyholders that have a policy …
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Vandal on Backhoes Causes Damage at New Jersey Construction Site
A vandal used a backhoe to damage numerous items at a southern New Jersey construction site, including the backhoe. Bridgeton police responded to the site around 8:30 p.m. Saturday after someone called 911, authorities said. They were told a man …
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Many Insurance Policies Bought by Small UK Firms Don’t Cover Pandemic: Regulator
Most insurance policies bought by smaller UK companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on Wednesday, as insurers come under fire for being slow to …
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OSHA Inspectors to Prioritize Health Facilities Over Other Sites During Coronavirus Crisis
The U.S. agency that enforces workplace safety laws has said it will prioritize work site inspections of healthcare facilities over other “essential” businesses that remain open during the coronavirus outbreak. The Occupational Safety and Health Administration (OSHA) said in guidance …
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Insurance Australia Group, AMMB Seek to Sell Their Malaysian Auto Insurer: Sources
The owners of AmGeneral Insurance Bhd., Malaysia’s second-biggest auto insurer, have restarted a sale process and are seeking as much as $1 billion for the company, people with knowledge of the matter said. Kuala Lumpur-listed AMMB Holdings Bhd. and Insurance …
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Willis Towers Watson’s Climate & Resilience Hub Taps Scott from BofE as Senior Director
Willis Towers Watson announced the appointment of Matt Scott as a senior director in its Climate and Resilience Hub. Scott played an integral role in the Bank of England’s climate team under Governor Mark Carney from 2014 and led delivery …
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QBE Insurance Plans US$825M Capital Raise on COVID-19 Economic Uncertainties
QBE Insurance is planning to raise about US$825 million in capital as a result of the economic and investment market uncertainty created by the coronavirus crisis. The company will raise approximately $750 million of equity via an institutional placement and …
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Miller Launches Quote and Bind Platform for Yacht Insurance
Miller Insurance Services LLP has launched a quote and bind platform called “Atlantic,” which aims to provide “a more sophisticated approach to the submission, placement and management of yacht policies.” Designed for intermediaries across the globe, Atlantic handles full binder, …
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Europe Needs Its Own Approach to Coronavirus Tracing, Say German Tech Startups
Europe should not cede its sovereignty to Silicon Valley when it comes to using technology to help trace those at risk of coronavirus infection, the German developers of a smartphone app said on Tuesday. Apple and Google said last week …
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Farm Bureau Insurance of Tennessee to Distribute $30M to Policyholders
Farm Bureau Insurance of Tennessee said it will issue $30 million in special payments to its auto policyholders in the state in response to economic stresses caused by the coronavirus emergency. The special payment is based on approximately 24% of …
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NIA Adds Reimbursement Coverage for Nonprofit Employee Auto Claims in California
Nonprofits Insurance Alliance (NIA), a nationwide insurer exclusively serving 501(c)(3) nonprofits, has introduced auto coverage that reimburses California nonprofits for payments made to their employees for auto physical damage caused on personal vehicles during work-related activities. The coverage is effective …
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Ohio’s Encova Insurance Issuing 15% Personal Auto Policy Credit
Columbus, Ohio-based Encova Insurance plans to issue a 15% policy credit to more than 80,000 personal auto policyholders for the months of April and May. Data has continued to show that as fewer vehicles are on the road due to …
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Iowa Beef Plant Suspends Operations Due to Worker Virus Infections
A beef processing plant in one of Iowa’s coronavirus hot spots has suspended production after several workers have become infected. National Beef announced that its Iowa Premium plant in Tama will be idled until April 20. The company said numerous …
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Georgia Contractor Fined $170K After Worker Falls to Death
A Georgia construction company was fined around $170,000 after a worker fell to his death in February at the Interstate-285/Georgia 400 interchange, officials said. Martin-Pinero Construction was cited by the U.S. Department of Labor’s Occupational Safety and Health Administration for …
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2020年4月14日星期二
North Carolina Creates Process for Insurers to Legally Offer Pandemic Premium Relief
The North Carolina Department of Insurance says it is working with insurers to allow them to offer financial relief to policyholders without filing for department approval or risking violating state law during the current coronavirus pandemic. Many automobile insurers are …
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Businesses Warn Fear of Liability Lawsuits Could Stall Rebooting of Economy
Litigation surrounding coronavirus responses is already underway and businesses are warning that the fear of more lawsuits could hinder the reboot of the U.S. economy. Returning America to work will require coordination between government and business and resolution of a …
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Preventing Losses Due to Growing Cyber Crime During the Coronavirus Crisis
The insurance industry needs to spend time educating clients on how to best protect themselves as cyber criminals continue to capitalize on new vulnerabilities in the wake of the COVID-19 pandemic. Educating clients is as important as getting them the …
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How Insurance Claims Pros Are Adjusting to Pandemic Complications
The coronavirus pandemic has not shut down the day-to-day business of adjusting claims, but the workload is lighter and claims managers are coping with evolving government regulations and guidelines. Crawford & Co. says it has added a new step to …
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Venbrook in California Names Ahuja Chief Operations Officer
Los Angeles, Calif.-based Venbrook Group LLC has named Sonia Ahuja chief operations officer. Ahuja will be responsible for growth through organic initiatives and strategic acquisitions and partnerships and will oversee operations efficiencies and margin improvements for Venbrook Group and its …
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Meat Plant Closures, Absenteeism Rise With Workers’ Fear of Coronavirus, Lack of Safety
CHICAGO/WINNIPEG, Manitoba — At a Wayne Farms chicken processing plant in Alabama, workers recently had to pay the company 10 cents a day to buy masks to protect themselves from the new coronavirus, according to a meat inspector. In Colorado, …
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California Tells Insurers to Investigate All COVID-19 Business Interruption Claims
California Insurance Commissioner Ricardo Lara on Tuesday issued a notice requiring insurance companies and other California Department of Insurance licensees to comply with their obligations to fairly investigate all business interruption claims caused by COVID-19. The notice follows numerous complaints …
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One80 Intermediaries Acquires Ohio’s International Excess Program Managers
One80 Intermediaries (One80), a national wholesale insurance broker and program manager headquartered in Boston, has acquired Beachwood, Ohio-based International Excess Program Managers (IEPM), a wholesale insurance brokerage and program manager operating in all 50 states. Terms of the deal were …
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300 Homes, Buildings Damaged by Tornadoes in Louisiana
Though tornadoes were reported in Arkansas, Lousiana and Texas over the Easter weekend, in the South Central region, northern Louisiana bore the brunt of the storm system that swept across the South on Sunday. The weather service reported multiple tornadoes …
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Distinguished Programs Taps Chisenhall to Lead Midwest Sales Team
Distinguished Programs, a national insurance program manager, has hired John Chisenhall as regional sales executive of its Midwest territories. He is based in St. Louis, Mo. Chisenhall brings 15 years of experience in workers’ compensation and commercial insurance to his …
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Widespread Damage, At Least 19 Deaths from Easter Storms Across South
Severe weather swept across the South Monday, killing at least 19 people and damaging hundreds of homes from Louisiana into the Appalachian Mountains. Many people spent part of the night early Monday sheltering in basements, closets and bathroom tubs as …
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Cyber Criminals Increasingly Will Target Top Executives in Ransomware Attacks: Report
Senior executives increasingly will be targeted by cyber criminals looking for ways to steal money from large corporations, according to a report from cyber analytics provider CyberCube. Organized criminals and hackers are moving away from high volume, low-value methods of …
from News – Insurance Journal
from News – Insurance Journal
Smithfield’s South Dakota Pork Plant Closed After 100s Test Positive for Virus
Virginia-based Smithfield Foods announced Sunday that it is closing its pork processing plant in Sioux Falls, South Dakota, until further notice after hundreds of employees tested positive for the coronavirus — a step the head of the company warned could …
from News – Insurance Journal
from News – Insurance Journal
Amazon Fires Two Employees Who Criticized Working Conditions at Warehouses
Amazon.com Inc. said on Tuesday it terminated two employees, who criticized the working conditions at the e-commerce giant’s warehouses in the wake of the coronavirus pandemic, for “repeatedly violating internal policies.” The termination of Emily Cunningham and Maren Costa, who …
from News – Insurance Journal
from News – Insurance Journal
Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded
President Donald Trump has staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay. Trump spoke about the issue for a minute and a half during his daily coronavirus task force …
from News – Insurance Journal
from News – Insurance Journal
Report on Arizona Plane Crash That Killed 6 Cites Weight, Drugs
An investigation into a 2018 plane crash that killed all six people aboard found that one of two pilots aboard the aircraft had drugs in his system and that the plane exceeded its weight limit according to a federal report. …
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from News – Insurance Journal
What if California Faces a Disaster During The Pandemic?
California has evacuation plans for earthquakes, floods, mudslides and, of course, wildfires, but what if one of those disasters occurs as the state is dealing with the coronavirus outbreak when everyone is being urged to stay home? State and local …
from News – Insurance Journal
from News – Insurance Journal
Australia’s Westpac Expects $578M Fine for Money Laundering Linked to Child Abuse
Australia’s Westpac Banking Corp said it expects a A$900 million ($578 million) fine over accusations it enabled millions of illegal payments including between known child sex offenders, the first time it has put a price on the scandal. The country’s …
from News – Insurance Journal
from News – Insurance Journal
Court Revives Privacy Violation Claims Against Facebook for Tracking Users
A federal appeals court last Thursday revived nationwide litigation accusing Facebook Inc. of violating users’ privacy rights by tracking their internet activity even after they logged out of the social media website. The 9th U.S. Circuit Court of Appeals in …
from News – Insurance Journal
from News – Insurance Journal
Employee Class Action Accuses McDonald’s of Climate of ‘Pervasive Sexual Harassment’
McDonald’s Corp. has been hit with a class action lawsuit accusing it of subjecting female employees in its corporate-owned fast-food restaurants in Florida to widespread sexual harassment. The lawsuit, filed on Friday in federal court in Chicago, says the company …
from News – Insurance Journal
from News – Insurance Journal
Virginia Workplace Safety Regulators Field Virus-Related Complaints
State regulators have received more than 150 complaints about insufficient precautions being taken against coronavirus at Virginia workplaces. The Department of Labor and Industry has contacted the employer in most of the 165 complaints received as of Thursday and requested …
from News – Insurance Journal
from News – Insurance Journal
Hoverboard Suspected in Fire That Damaged Two-Family Home in Massachusetts
Authorities are blaming a hoverboard malfunction for starting a fire that damaged a two-family home north of Boston. Andover Fire Chief Michael Mansfield and State Fire Marshal Peter Ostroskey said investigators determined the hoverboard – which had been charging on …
from News – Insurance Journal
from News – Insurance Journal
Deadly Storm Buffets New York and East Coast After Lashing South
A powerful storm that unleashed deadly tornadoes across the South was expected to shake trees and snap power lines in New York and other cities along the U.S. East Coast. Rainy gusts of up to 60 miles per hour were …
from News – Insurance Journal
from News – Insurance Journal
BHSI Expands Cover for UK Financial Institutions with D&O and Civil Liability Policies
Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance. “Both policies clearly articulate broad coverage for liability exposures …
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Suddenly There Is Big Demand for Pandemic Cover, Says Third Point Re Underwriter
In the midst of this pandemic, insurance buyers and their brokers are looking for COVID-19 pandemic coverage, which is like buying property insurance when your house is on fire, according to Tracey Gibbons, senior vice president, Underwriting, at Third Point …
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from News – Insurance Journal
Officials: Health Care Workers Account for 15% of Alabama Virus Cases
More than 450 health care workers in Alabama had been infected with COVID-19 as the total cases in the state neared 3,000, the Alabama Department of Public Health said Friday. The Alabama Department of Public Health said that 464 employees …
from News – Insurance Journal
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Mississippi Doctor Claims Voicing Virus Concerns Led to Firing in Lawsuit
A Mississippi doctor who was fired after raising concerns about her hospital’s safety measures in the coronavirus pandemic is now suing. News outlets reported Dr. Samantha Houston was fired from Oxford’s Baptist Memorial Hospital after she wrote a Facebook post …
from News – Insurance Journal
from News – Insurance Journal
Jackson Sumner & Associates of North Carolina Names Shockley Controller
Jackson Sumner & Associates (JSA) has added Keith Shockley as controller and head of the accounting department. He will report directly to JSA President and CEO, Danielle Wade. Shockley’s past experience includes working for BB&T as an analyst and portfolio …
from News – Insurance Journal
from News – Insurance Journal
2020年4月13日星期一
Warehouse Workers Risk COVID-19 Shipping Knick-Knacks, Luxury Goods Ordered Online
As U.S. authorities ordered shutdowns of non-essential businesses to fight coronavirus, retailer Nordstrom Inc. closed hundreds of stores and gave in-store workers three weeks’ pay, calling their safety its top priority. That benefit did not extend to Meagan Christensen, 34, …
from News – Insurance Journal
from News – Insurance Journal
Alabama Regulator to Ease Process for Auto Insurers to Reduce Policyholder Premiums
The Alabama Department of Insurance says it will waive filing fees and allow for immediate implementation of premium reductions by insurers in an effort to provide some relief to Alabama consumers. In a bulletin issued last week, Alabama Insurance Commissioner …
from News – Insurance Journal
from News – Insurance Journal
Louisiana Insurance Commissioner: State Farm Cutting Auto, Homeowners Rates
Louisiana Insurance Commissioner Jim Donelon has approved overall base rate decreases of 3.5% for homeowners’ policies issued by State Farm Insurance Co., which follows his approval of an additional decrease of 2.3% for State Farm auto policies in March. “In …
from News – Insurance Journal
from News – Insurance Journal
DOXA Acquires Specialty Insurance Agencies in Florida, Missouri
Specialty insurance agencies Lawrence E. Smith & Associates (LESA) of greater St. Louis, Mo., and Scholastic Insurance of Florida (SIF) of greater Orlando, Fla., have been acquired by DOXA Insurance Holdings LLC (DOXA). The two agencies specialize in insurance programs …
from News – Insurance Journal
from News – Insurance Journal
Woodlands Insurance Acquiring Gulfstream’s Texas Homeowners Renewal Rights
The Woodlands Insurance Co. (TWICO) has completed a renewal rights agreement with Florida’s Gulfstream Property & Casualty Insurance Co. (Gulfstream) to acquire Gulfstream’s book of homeowner business in Texas. The transaction will result in the transfer of approximately $4 million …
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from News – Insurance Journal
Olympus Insurance of Florida Appoints Citizens’ Bitar as CEO
Gemini Financial Holdings Corporation (GFHC), the parent company of Olympus Insurance Company, has hired Steve Bitar, former chief of Underwriting and Agency Services for Citizens Property Insurance Corporation, will officially join Olympus on April 20, 2020, as chief executive officer …
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from News – Insurance Journal
India’s Future Group to Sell Stake in Insurance Joint Venture with Generali
India’s Future Group has picked UBS Group AG to lead the sale of its stake in an insurance joint venture with Italy’s Assicurazioni Generali SpA, according to people familiar with the matter. Future Group is working with the Swiss bank …
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from News – Insurance Journal
Pandemic Insurance to Become Essential Cover for Sports, Music Organizers: GlobalData
The Wimbledon tennis tournament had the foresight to buy around £1.5 million (US$1.9 million) per year in pandemic insurance since the SARS outbreak in 2003, said GlobalData in a recent bulletin. Paying out roughly £25.5 million (US$31.7 million) in premiums …
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from News – Insurance Journal
Arizona Dispensary Ordered to Stop Selling Virus ‘Stabilizer’
Arizona’s top prosecutor has ordered a Phoenix, Ariz., dispensary to stop marketing its products as treatments for the coronavirus. Attorney General Mark Brnovich says he sent a cease-and-desist letter to YiLo Superstore Dispensary on Friday over claims of having a …
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from News – Insurance Journal
Washington Nursing Home Sued Over Coronavirus Death
The daughter of a woman who died of a suspected coronavirus case at a Seattle-area nursing home connected to dozens of COVID-19 deaths is suing the company that owns the Life Care Center of Kirkland. The Life Care Center has …
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from News – Insurance Journal
M5.2 Earthquake Rattles California-Nevada State Line
An earthquake with a preliminary magnitude of 5.2 rattled the remote California-Nevada state line but no damage or injuries were reported. The quake just struck after 7:36 a.m. Saturday and was centered near Bodie, a former gold-mining town that is …
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Pennsylvania Court Voids $10M Payout in Fatal Spinal Surgery Case
A $10 million award allotted in the death of a Pennsylvania woman following a spinal surgery was voided after the court determined the amount is not in line with others granted in similar medical malpractice cases. The state ordered a …
from News – Insurance Journal
from News – Insurance Journal
SAN Group Welcomes Two Massachusetts Agencies to Its Network
Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast, has welcomed two Massachusetts-based insurance agencies to its network. Get One Insurance is based in Lynn, Mass., and owned by Jannete Nieto. The agency offers …
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from News – Insurance Journal
P/C Insurance Is Industry Least Likely to Default Due to Coronavirus, Says S&P Credit Analysis
Compared to others, the property/casualty insurance industry is weathering the coronavirus crisis rather well. The property/casualty insurance is the least-impacted industry by the coronavirus pandemic, at least so far, according to an analysis from S&P Global Market Intelligence. S&P compiled …
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from News – Insurance Journal
Courts Allows Shareholder Class Action Against Goldman Sachs Tied to 2008 Crisis
Goldman Sachs Group Inc. must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis. In a 2-1 …
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from News – Insurance Journal
New Jersey Directs Insurers to Provide Emergency Grace Period Amid COVID-19
The New Jersey Department of Banking and Insurance has directed insurers to provide financial relief to residents and businesses, as they continue to suffer financial hardship due to the COVID-19 pandemic. The guidance issued to regulated entities follows Executive Order …
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from News – Insurance Journal
CEO of Tokyo Games Can’t Guarantee Postponed Olympics Will Be Held Even in 2021
As the coronavirus spreads in Japan, the chief executive of the Tokyo Games said Friday [April 10] he can’t guarantee the postponed Olympics will be staged next year – even with the long delay. Japanese Prime Minister Shinzo Abe issued …
from News – Insurance Journal
from News – Insurance Journal
Railroads Resist Oil Companies’ Demands for Storage in Rail Cars Citing Safety Concerns
Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling. Oil demand is expected to …
from News – Insurance Journal
from News – Insurance Journal
California Orders Insurers to Refund Premiums to Drivers, Businesses Hit by COVID-19
California Insurance Commissioner Ricardo Lara on Monday ordered insurance companies to return insurance premiums to consumers and businesses and provide financial relief during the COVID-19 emergency. The commissioner’s bulletin covers premiums paid for at least the months of March and …
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from News – Insurance Journal
BHSI Launches Management Liability & Association Liability Cover in New Zealand
Berkshire Hathaway Specialty Insurance Co. (BHSI) has expanded its executive & professional lines offerings in New Zealand with the introduction of Management Liability and Association Liability Insurance policies. BHSI’s Management Liability policy is designed to address the wide range of …
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from News – Insurance Journal
Italy’s Generali to Pay 2019 Dividend, Resisting EU Regulatory Guidance
Italy’s biggest insurer Generali on Friday said it would pay its 2019 dividend in two tranches, confirming a total payout of 0.96 euros per share, citing its strong capital position. The announcement flies in the face of calls by industry …
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from News – Insurance Journal
2020年4月12日星期日
How P/C Insurance Industry Can Maximize Its Response to Coronavirus: Crisis Manager
“I’m shocked, just shocked that you’re suggesting that during a crisis that insurance companies might in fact be considered the villains. I’ve never heard that before.” That’s Richard Levick speaking. Levick, who has a public affairs, crisis and reputation risk …
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from News – Insurance Journal
Auto Insurers Offering $8-$10B in Discounts in Coronavirus Relief Effort: Updated List
The group of property/casualty insurers offering auto insurance premium discounts to recognize that insureds are driving less during the coronavirus crisis continues to grow, and now includes all major auto insurers. State Farm and Nationwide late last week joined the …
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from News – Insurance Journal
Quote Requests to Insurance Agencies Down 30% Since Coronavirus Shutdowns
While consumers may have more time to consider their insurance needs during this period of stay at home orders and non-essential business shutdowns brought on by the nationwide COVID-19 pandemic, they aren’t necessarily contacting their insurance agents with requests for …
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from News – Insurance Journal
Eli Lilly Begins Clinical Trial for COVID-19 Therapies
Eli Lilly and Co. reports it has begun clinical trials for testing therapies for COVID-19. The drug company said it has entered into an agreement with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes …
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from News – Insurance Journal
2020年4月9日星期四
Coast Guard Orders Cruise Ships in Galveston to Form Medical Plans
The U.S. Coast Guard has determined that crew members on cruise ships and vessels in Galveston, Texas, present a public health risk of spreading the new coronavirus and urged operators to form medical plans to care for sick workers. In …
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from News – Insurance Journal
Appellate Court Drops Victim Suit Against Florida Nightclub Shooter’s Employer
A Florida appellate court upheld a lower court’s ruling that a security firm employing the gunman responsible for a gay nightclub shooting can’t be held liable for failing to investigate complaints against the shooter, giving him firearm training and allowing …
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from News – Insurance Journal
Texas Surplus Lines Filings Up 14.5% in Q1 2020 Compared with Q1 2019
The Surplus Lines Stamping Office of Texas (SLTX) reports that excess and surplus lines insurance premium recorded for the first quarter of 2020 is up 14.5% compare with the same period last year. Additionally, the Q1 2020 filings represent a …
from News – Insurance Journal
from News – Insurance Journal
Explosion at North Carolina Fuel Plant Damages Nearby Homes; No Serious Injuries
An explosion at a hydrogen fuel plant in North Carolina has damaged nearby homes but left workers without any serious injuries. News outlets report that the explosion occurred at the OneH2 Inc. hydrogen fuel facility in the town of Long …
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from News – Insurance Journal
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