Illinois Treasurer Looking into How Life Insurance Companies Avoid Payouts

Illinois Treasurer Michael Frerichs is launching a series of public hearings to explore how life insurance companies avoid paying death benefits. The first hearing is set for this morning in the city council chambers in Normal. The state treasurer’s office said …

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Beazley Offers Revenue Protection Cover for UK Events Hit by Wet Weather

London-based insurer Beazley has launched “Cancellation Plus” for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when a specified amount of rainfall occurs at their event. Beazley said it provides …

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A.J. Gallagher’s Carroll Joins JLT Re Specialty’s Energy, Financial Teams

JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group (JLT), reports it has added Kathryn Carroll as senior vice president. Based in New York, Carroll will be focused on two specialty areas: Energy, including Heavy Chemicals, and Financial …

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China’s Ping An H1 Profit Rises 18% on Higher Premiums, Banking Income

Ping An Insurance (Group) Co., China’s second-largest insurer, said first-half profit rose 18 percent as growth in premiums and banking revenue helped offset the impact of stock-market declines that have hit rivals. Net income climbed to 40.8 billion yuan ($6.2 …

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USGS: Small Quakes Jolts Southern California Suburbs

A small earthquake rattled a populated swath of Southern California but there were no reports of damage or injury. The U.S. Geological Survey says the magnitude 3.0 quake hit at 12:17 a.m. Tuesday about a mile from Yorba Linda in …

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Watford Specialty Looking to Build Program Business with U.S. Acquisition

Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of Columbia. The previously dormant …

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Litigation Insurance Reimburses Plaintiff Lawyers Losing Cases on Contingency

When David Brill lost a trial for a client who fell off his neighbor’s ladder, it was a rare failure for his three-member Florida law firm. It also cost him $30,000 in expenses since he’d taken the case on contingency, …

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