The Ontario Teachers’ Pension Plan, one of the biggest investors in British infrastructure, said it is assessing daily the risk that Britain will leave the European Union and is considering hedging the currency risk on its investments. Ontario Teachers’, Canada’s …
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Thursday, March 31, 2016
Ex-QBE Insurance Executive Sentenced to Jail for $2.6M Embezzlement Scheme
A former executive of QBE Insurance Group was sentenced on Thursday to 1-1/2 years in prison for conspiring to embezzle $2.6 million from the insurance company, some of which he used to buy a house and luxury vehicles. James Shea, …
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VIDEO: Turtle treated for buoyancy disorder
A turtle in Seattle has undergone experimental therapy involving a hyperbaric chamber to try and treat its buoyancy disorder.
Amerisure Promotes Vaughn to AVP, Workers’ Comp Claims
Amerisure Mutual Insurance Co., based in Farmington Hills, Mich., has promoted Kimberly Vaughn to assistant vice president, workers’ compensation (WC) claims. In her new role, Vaughn oversees the day-to-day operations of the WC claims department. Vaughn began her career with …
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6 North Carolina Residents Accused of Staging Car Accident
Four North Carolina individuals have been arrested in connection with an alleged staged auto accident, according to North Carolina Insurance Commissioner Wayne Goodwin. Investigators are still seeking two other suspects in association with the case. Investigators accuse the group of …
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FEMA Denies Individual Assistance to Florida Tornado Victims
Some residents of the Florida Panhandle who sustained damage during two tornadoes that touched down in February will not receive individual assistance through FEMA. The News Journal reports that the Federal Emergency Management Agency denied the state’s request for individual …
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First Robot–Run Insurance Agency Opens for Business
Goodbye agency principals, producers and customer service reps, hello Roberto Siber, CPCU. Siber is the buff, blue-eyed and bald principal of the Buyonic Insurance Agency in Austin, Texas. This insurance android is more evidence that the future of mechanized businesses …
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Tesla launches 'affordable' Model 3
Tesla unveils its much-anticipated Model 3 electric car saying it will cost $35,000 and have a range of at least 215 miles (346km) per charge.
McDonalds to open 1,250 China outlets
McDonald's is to open 1,250 new restaurants in China as part of Asian expansion plans as it focuses on high-growth markets to boost sales.
3 Tornadoes Leave Behind Damage in Kentucky County
The National Weather Service says three tornadoes touched down in western Kentucky’s Christian County over the weekend when a severe storm passed through the area. The Kentucky New Era cited the National Weather Service in Paducah in reporting that an …
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Florida Trailer Park Residents Evacuated by Possible 60-foot Sinkhole
About 20 residents in six homes at a mobile home park along Florida’s Gulf Coast were evacuated Wednesday after a 60-foot-wide, 35-foot-deep hole opened in the ground. The residents at the Tarpon Shores Mobile Home Park in Tarpon Springs were …
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VIDEO: China and US to cooperate on nuclear safety
China and the United States agree to work together more closely on nuclear safety.
Progressive Insurance Snags Texas Uber Drivers Account
Uber Technologies Inc. will use Progressive Insurance to provide coverage for drivers in Texas beginning on Friday, in a pilot that could lead the ride-hailing market leader to diversify its U.S. insurance purchasing from its current sole provider, Uber and …
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Stars turn out for Bowie tribute
An all-star tribute concert to David Bowie, announced hours before he died in January, takes place in New York.
US and China to co-operate over N Korea
China and the United States will work together to prevent further nuclear missile tests by North Korea, US President Barack Obama says.
Road, Bridge Damage from Louisiana Flooding Pegged at $20M
Louisiana’s transportation secretary says flooding from storms that struck the state in March caused up to $20 million in road and bridge damage. The Advocate reports Shawn Wilson described the damage in a House budget hearing, saying 455 roads and bridges were …
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Hays Promoted to VP, Chief Actuary at Great American Insurance
Great American Insurance Group, based in Cincinnati, Ohio, has promoted Lisa A. Hays to vice president and chief actuary of Great American’s Property and Casualty Group. She will succeed John Doellman who is retiring in May. Hays has over 25 …
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California on track for $15 minimum wage
The US state is set to be the first to raise its minimum wage $15 per hour after a proposal passed both houses of the state legislature.
New evidence of Viking life in America?
A new discovery has revealed that the Vikings may have travelled hundreds of miles further into North America than previously thought.
VIDEO: World On The Move: The Dancer
Dancer Richard Peacock explains why he is leaving the US to train with an Indian dance company in Mumbai.
$5M Deal Reached Between California And TV component Makers
California Attorney General Kamala Harris says she has reached a nearly $5 million settlement with five electronics manufacturers accused of fixing prices on television and computer components. Harris’ office announced the deal with LG, Hitachi, Panasonic, Toshiba and Samsung on …
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Wage Hike Would Cost California Taxpayers $3.6B, Analyst Says
Raising the minimum wage in California to the highest statewide level in the nation would eventually cost taxpayers an additional $3.6 billion a year in higher pay for government employees, legislative analysts determined. The estimate was disclosed as an Assembly …
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Climate Change Easy Bet to be Hot Topic at Insurance Regulator Meeting
Mark down the Climate Change and Global Warming Working Group as the odds-on favorite committee to produce the most interesting chatter during the National Association of Insurance Commissioners meeting next week in The Big Easy. Climate change buzz has continued …
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VIDEO: Aerial footage shows US tornado damage
Buildings, including homes and churches, have been destroyed or severely damaged after a series of tornadoes struck southern US states.
VIDEO: Ex-US football star: 'No more excuses'
Briana Scurry, Former goalkeeper for the US Women's team, tells the BBC "there are no more excuses" for paying the women less than the men.
'At least three shot' at US bus station
A gunman opened fire in a Greyhound bus station in Richmond, Virginia, and multiple people were hurt, local media report.
Man shot by US police 'begged for life'
An unarmed man shot and killed by a police officer in the US state of Arizona had begged for his life, according to newly released reports.
US and China to sign climate treaty
The world's two largest carbon emitters have issued a joint statement confirming that both countries will sign the Paris Climate Agreement next month.
Controversy over Hamilton casting call
Multicultural musical Hamilton comes under fire for seeking "non-white men and women" for future roles in the show.
VIDEO: Trump's twists and turns on abortion
Republican front-runner Donald Trump has changed his view on abortion several times, from pro-choice in 1999 to pro-life with exceptions today.
US travel 'Not a 10' tweet prompts scorn
The US State Department apologises for tweeting that Americans not considered attractive should not fall victim to scams overseas.
40-Plus Structures Burned in Kansas, Oklahoma Wildfire
Officials say a wildfire that burned hundreds of square miles of rural land in Oklahoma and Kansas this week destroyed at least 41 structures in both states. Oklahoma Forestry Services spokeswoman Hannah Anderson says authorities in both states determined 16 …
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Former Kansas Insurance Company Employee Sentenced for Embezzlement
A former Topeka insurance company employee had been sentenced to a year and a day in federal prison for embezzlement. The U.S. attorney’s office says 47-year-old Erin Rebecca Thomas also was ordered to pay $215,000 in restitution. The former Topeka …
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Southeast Texas School District Estimates $12M in Flood Damage
The head of a Southeast Texas school district where flooding swamped an elementary campus with water 5-foot deep estimates $12 million in losses and little insurance. The superintendent of the Deweyville Independent School District said that efforts continue to resume …
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Model Home Fortified Against High Winds to Be Built in Tulsa
An insurer-backed property safety research organization announced it is helping to build a model home in Oklahoma that will be designed to withstand high winds and hail. The Insurance Institute for Business & Home Safety (IBHS) said the first FORTIFIED …
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CNA Adds Townsend as Sr. VP, Claim
Chicago-based CNA has appointed Joel Townsend as senior vice president, Claim. He will be head of claims customer service for CNA’s global Management Liability, Financial Institutions and Technology business units. Townsend previously served as senior vice president and worldwide specialty …
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Cyber criminals 'hacked law firms'
Cyber criminals have been targeting major law firms in what may be an attempt to gather information for insider trading deals, according to reports.
Workers’ Comp Costs Decline in Arkansas
The state’s top insurance regulator has approved a decrease in workers’ compensation rates in Arkansas. Effective July 1, the overall loss cost in the voluntary market will decline by 4.3 percent and the overall average assigned risk will decrease by …
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Beazley Provides Data Breach Response Insurance in Canada
Beazley announced the launch of the company’s flagship Beazley Breach Response (BBR) product in Canada, which is data breach response insurance that protects the personal data of up to five million individuals per breach. Canada’s Digital Privacy Act, passed in …
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GE aims to lose 'too big to fail' label
General Electric's financing arm - GE Capital- asks regulators to remove it from the list of institutions deemed "too big to fail" after having shrunk its business.
AIG CEO Hancock Sees Opportunity in MetLife Systemic Risk Win
A judge’s ruling that MetLife Inc. is not “too big to fail” opens up an opportunity for insurer American International Group Inc. to seek an exemption from the tag, AIG Chief Executive Peter Hancock said on CNBC on Thursday. However, …
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Utah Employers Must Accommodate Breast-Feeding Workers
Utah is joining more than a dozen states to require businesses to offer breast-feeding and pregnant employees accommodations such as extra breaks during work. Republican Gov. Gary Herbert signed a law this week that makes it a requirement for employers …
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Oregon PGE Sues Backers of Construction Bond for $180M over Shoddy Work
A Portland, Ore.-based electricity provider that fired the contractor building its natural gas plant in Boardman is suing the backers of a bond guaranteeing construction. The East Oregonian reported Portland General Electric filed the lawsuit March 23 against Liberty Mutual …
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Oregon Ice Cream Company Pays $55K Fine in EPA Settlement
The Oregon Ice Cream Co. has agreed to pay $55,000 for violating federal safety rules at its Eugene plant. In 2011, Environmental Protection Agency inspectors found that the company failed to meet industry safety standards for its ammonia refrigeration equipment …
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US women footballers sue over pay
Five senior members of the World Cup-winning women's US football team sue the national federation for wage discrimination.
Company Passwords for Sale?
Employees don’t see it as their responsibility to safeguard corporate security processes and one in five would go so far as to sell sell their company’s passwords to an outsider. Of those who would sell their passwords, 44 percent would …
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CNA Names Chubb’s Townsend as Senior Vice President for Claims
Commercial property/casualty insurance carrier CNA has appointed Joel Townsend as senior vice president, Claim, responsible for claims customer service for CNA’s global Management Liability, Financial Institutions and Technology business units. Townsend has 25 years of experience in the claims area. …
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Class Action Settlements Topped $3 Billion in 2015: Cornerstone Research
There were 80 securities class action settlements approved in 2015, the highest number since 2010, and total settlement dollars rose to more than $3 billion, according to research by Cornerstone Research. The report, “Securities Class Action Settlements—2015 Review and Analysis,” …
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MetLife Victory Could Push AIG, Pru to Fight Systemic Risk Designations
After regulators slapped the too-big-to-fail label on MetLife Inc., Chief Executive Officer Steve Kandarian had several responses. One was to challenge government watchdogs in court — a move shunned by other insurers that got the TBTF tag. The CEO also …
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AIG’s United Guaranty Files for IPO
AIG’s mortgage insurance unit, United Guaranty Corp, filed for an initial public offering of up to $100 million with U.S. regulators, as part of a previously announced move to spin off the business. AIG announced in January it would spin …
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GM Wins Second ‘Bellwether’ Ignition Switch Trial
General Motors Co. won its second straight trial against drivers who blamed car wrecks on faulty ignition switches, boosting the company’s outlook for resolving hundreds of similar cases on more favorable terms. The crash of Dionne Spain’s 2007 Saturn Sky …
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Markel International Launches Fintech Business Protection Cover
Markel International, the London-based specialist insurance subsidiary of Markel Corp., has launched a policy offering comprehensive protection for businesses in the financial technology (fintech) sector, which includes trading platforms, forex platforms and peer-to-peer crowdfunding sites. In financial services businesses, where …
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Kenya Re Expects to Sell More Political Risk Cover in 2017, Boosting Earnings
Kenya Reinsurance Corp., the country’s only publicly traded reinsurer, expects increased political risk linked to presidential elections in the East African nation next year to boost earnings, Chief Executive Officer Jadiah Mwarania said. Kenya is scheduled to hold the vote …
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FBI agrees to unlock another iPhone
The FBI offers to unlock another iPhone for police after revealing it could access the handset used by San Bernardino killer Syed Farook.
VIDEO: Giant sinkhole opens up in Florida
Residents have been forced to leave their homes on a mobile home Park in Tarpon Springs, Florida, after a large sinkhole appeared nearby.
Everest Re Names Former Zurich Exec, Kerner, to Lead Strategy & Risk Mgmt.
Everest Re Group Ltd. hired Michael Kerner, who previously led Zurich Insurance Group AG’s general-insurance unit, to head the strategy and risk-management team as the Bermuda-based reinsurer reshapes management. Kerner will be an executive vice president, Everest Re said Wednesday …
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Zurich Chairman Predicts Improved Results; New CEO Greco Reviews Strategy
Zurich Insurance Group AG will see improving results this year after taking steps to cut costs and overhaul units following unexpected losses at its general insurance unit, according to Chairman Tom de Swaan. “The implementation of these measures is going …
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Wednesday, March 30, 2016
VIDEO: Tornados tear through Oklahoma
At least nine people were injured when a series of tornadoes tore through the US state of Oklahoma.
VIDEO: US to put more soldiers in Europe
Russia has criticised a US plan to station around 4,000 more soldiers in Europe from the beginning of 2017.
West Virginia Officials Propose $93K Fine Against Natural Gas Company
West Virginia environmental officials have proposed a $93,000 fine on an Antero Resources natural gas company for polluting waterways. In a consent order, state Department of Environmental Protection and Antero Midstream LLC agreed earlier this month on the proposed fines …
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West Virginia Pharmacists Reduce Hydrocodone Dispensing by Nearly 13M
West Virginia pharmacies are dispensing significantly fewer doses of the state’s most popular prescription painkiller, hydrocodone. The number of prescribed hydrocodone products dropped by nearly 13 million tablets last year, the Charleston Gazette-Mail reported, citing new data from the state’s …
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North Carolina Resident Accused of Using Insurance Claim Check for Personal Use
North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Alison Keli Underwood, 24, of Asheboro, N.C.; she is charged with one count of obtaining property by false pretense. NCDOI criminal investigators accuse Underwood of fraudulently obtaining $7,452.85 from Cincinnati …
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Imm Joins Maryland Insurance Administration as Public Affairs Director
Maryland Insurance Commissioner Al Redmer Jr. announced the appointment of Tracy Imm as the Maryland Insurance Administration’s (MIA) director of Public Affairs. In her role, Imm will serve as the agency’s point of contact for external and internal communications. Prior …
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Massachusetts Court Rules on ‘Equitable Contribution’ Case
Massachusetts’ top court ruled this month that a workers’ compensation insurer that has paid benefits under a policy has a right to pursue “equitable contribution” from a second insurer that also provided coverage to the same policyholder. The Massachusetts Supreme …
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DOL Sues U.S. Steel Corp. Over Injury Reporting Practices
The U.S. Department of Labor recently announced that it has sued U.S. Steel Corp. for allegedly retaliating against two Pennsylvania-based employees who violated the company’s immediate reporting policy for workplace injuries. The Department of Labor said on Feb. 22 that …
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US to transfer more Guantanamo inmates
The Pentagon plans to move roughly a dozen inmates from the US military prison at Guantanamo Bay in Cuba to at least two countries.
US $86m spy plane 'never used'
The US Drug Enforcement Agency spent $86m (£60m) on a spy plane to be flown in Afghanistan, but it was never used, a government report says.
Brown Promoted to Executive Vice President at Lockton Mountain West
Ted Brown has been promoted to executive vice president at Lockton’s Mountain West operation in Denver, Colo. Brown focuses on structuring solutions to optimize clients’ total cost of risk in the real estate, development, construction, and private equity industries. Brown …
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NYC may regulate costumed performers
New York City's council is considering legislation to restrict where performers dressed as characters like Elmo and Spiderman can solicit business.
Trump: Punish women for illegal abortions
Republican presidential candidate Donald Trump calls for "some form of punishment" for women who have abortions, if it becomes illegal.
Arthur J. Gallagher Acquires Joseph Distel & Co. in Connecticut
Arthur J. Gallagher & Co. announced the acquisition of Joseph Distel & Co. Inc. in Farmington, Connecticut. Terms of the transaction were not disclosed. Founded in 1955, Joseph Distel & Co. is a managing general agent and wholesale insurance broker …
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Sex worker spied by drone pleads guilty
A woman in Oklahoma pleads guilty to a lewdness charge after being caught on camera by a local "drone vigilante".
OSHA, Anheuser-Busch’s N.J. Subsidiary Resolve Safety Violations
Federal labor officials have reached a deal with a New Jersey-based subsidiary of the world’s largest beer maker to settle claims of safety violations at a distribution warehouse. The Occupational Safety and Health Administration announced its deal with Anheuser-Busch Sales …
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West Virginia Coal Boss Should Face Maximum Sentence, U.S. Says
Former coal baron Donald Blankenship should face the maximum sentence of one year in prison for flouting mine-safety rules, prosecutors said, urging a judge to send a message to the coal industry. The government asked U.S. District Judge Irene Berger …
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No charges over fatal US police shooting
Minneapolis police officers will not be charged in the fatal shooting of unarmed black man Jamal Clark.
Three Appointed to Texas Life/Health Insurance Guaranty Association Board
Texas Insurance Commissioner David Mattax has appointed three members to serve on the board of directors of the Texas Life and Health Insurance Guaranty Association. The board oversees the association, which helps to protect Texans if a life, accident or …
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Chubb Launches Healthcare Industry Practice, Taps Clouser to Lead
Chubb has launched a new industry practice providing insurance coverage and risk management options to the healthcare marketplace. Chubb’s Healthcare Industry Practice will offer a range of insurance products and services for healthcare customers, including hospitals, physicians, long-term care facilities, …
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Arkansas Man Sentenced to 15 Years in Prison for Insurance Fraud
An Arkansas man has been sentenced for 15 years in prison for two counts of insurance fraud, the state insurance department announced. Cody Martin, 29, pleaded guilty in Pulaski County Circuit Court in January to two counts of insurance fraud …
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Donegan to Step Down as Vermont Commissioner
Susan L. Donegan, who has been serving as commissioner of the Vermont Department of Financial Regulation (DFR) for past three years, will step down from her position. Donegan’s last day in office will be June 30, according to a department …
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Donegan to Step Down as Vermont Commissioner
Susan L. Donegan, who has been serving as commissioner of the Vermont Department of Financial Regulation (DFR) for past three years, will step down from her position. Donegan’s last day in office will be June 30, according to a department …
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Officials Raise the Number of Homes Destroyed in Kansas W
The biggest wildfire in Kansas history has been largely contained, but authorities said more homes were damaged than originally thought. The Kansas Adjutant General’s Office said that nine Barber County homes were destroyed in the fire, which started in Oklahoma …
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Motor Vehicle-Related Pedestrians Deaths Up in Ohio
A safety group’s report shows the number of pedestrians killed by motor vehicles in Ohio in the first six months of 2015 climbed and Ohio led all states in the percentage increase over the same period in 2014. The Dayton …
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Minot Acquiring Flood Protection Properties
Minot, N.D., has acquired more than 60 percent of the properties needed for a flood protection project that will begin construction next year. Finance Director Cindy Hemphill tells the Minot Daily News that the city has bought out 99 properties …
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Erhart, Rosen Promoted at Great American Insurance Group
Cincinnati, Ohio-based Great American Insurance Group promoted Sue A. Erhart to general counsel and Eve Cutler Rosen was named executive counsel within the company’s property and casualty legal group. Erhart will continue to have direct responsibility for the staff and …
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4 Parishes Added to Louisiana Disaster Declaration
Four more parishes have been added to a presidential disaster declaration that followed recent historic flooding in Louisiana. Sen. David Vitter’s office said that the latest additions are Jackson, Rapides, Red River and Sabine parishes. The disaster declaration makes public …
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MetLife Wins Court Appeal to Strike Down Systemic Risk Tag
MetLife Inc. beat back a U.S. attempt to label it too big to fail, which would’ve put America’s biggest life insurer under tougher government scrutiny and forced it to put more money in reserves. A federal judge in Washington struck …
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Chicago murder rate up 84% this year
Chicago's troubled police force has a new boss, as new figures show murders up 84% so far in 2016 compared with last year.
Hawaii Lawmakers: How Much Pot Is OK While Driving?
Hawaii lawmakers are asking how much marijuana a driver can safely consume before getting behind the wheel of a car. It’s an issue they want to tackle now that Hawaii is setting up medical marijuana dispensaries, so Rep. Cindy Evans …
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Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey
While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …
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First Autonomous Urban Drone Delivery in Nevada
A drone has delivered a package to a residential location in a small western Nevada town in what its maker says is the first fully autonomous, federally approved urban drone delivery in the United States. Flirtey CEO Matt Sweeney announced …
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New Mexico Weather Creating Dangerous Wildfires Conditions
Authorities are warning that weather conditions across much of New Mexico are creating conditions ripe for dangerous wildfires. A red flag warning has been issued for portions of southern, central and eastern New Mexico due to strong winds and low …
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Alliant Names Dobbs Vice President in Real Estate Group in California
Real estate specialist Mark Dobbs has joined Alliant Insurance Services as vice president within the company’s real estate group. Los Angeles, Calif.-based Dobbs will focus on organizations with portfolios spanning various product types. Dobbs’ background includes investment banking, real estate …
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Capp Joins Answer Financial to Sign More Business Partners
Tom Capp has joined the senior management team for the online auto and home insurance agency Answer Financial. Capp, as senior vice president of Business Development, will be working to grow the company’s network of business partners. Capp worked with …
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Backlash over 'anti-transgender' US law
Major firms including Bank of America reject North Carolina's new law which ends anti-discrimination protection for gay and transgender people.
VIDEO: Clinton labels Trump a 'political arsonist'
Hillary Clinton has called Republican presidential candidate Donald Trump a "political arsonist".
VIDEO: The world's most expensive trainers
The most expensive pair of trainers have been unveiled in New York, designed by Bicion and Mache Customs
Split Supreme Court in Search of Birth Control Benefit Compromise
The U.S. Supreme Court called for additional briefing in a divisive clash over contraceptives and Obamacare, issuing an unusual order that suggests at least one justice may be eyeing a possible compromise. The order comes less than a week after …
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N Marianas rush to restrict gun access
"Sweeping" legislation is in the works after US court strikes down Pacific territory's handgun ban.
Insurance Safety Institute Finds Most Headlights Not Bright Enough
The Toyota Prius v is the only midsize car out of 31 evaluated to earn a good rating in the Insurance Institute for Highway Safety’s first-ever headlight ratings. The best available headlights on 11 cars earn an acceptable rating, while …
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Trump withdraws nominee pledge
US Republican frontrunner Donald Trump says he will not support any nominee but himself, backing away from a previous pledge to party unity.
AIG Executives’ Pay Trimmed for Missing Profit Goals
American International Group Inc., the insurer being pressured by activist investors to split up, cut short-term incentive pay for Chief Executive Officer Peter Hancock by 29 percent last year as he missed profit targets. The CEO received $2.5 million from …
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U.S. Promises Rules for Makers of Driverless Cars Within Months
U.S. regulators are making progress and will begin issuing guidelines to help the introduction of self-driving car technology within the next few months, Transportation Secretary Anthony Foxx said. The rapidly developing technology promoted by companies such as Google, Tesla Motors …
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AmWINS’ MGA Unicorn Names Nightingale as CEO; Cashen as Motor Fleet U/W
Charlotte, N.C.-based broker AmWINS Group Inc. announced the appointment of Darren Nightingale as chief executive officer of its London-based managing general agent, Unicorn Underwriting. Nightingale will be joined by Julian Cashen from Liberty Underwriting as class underwriter, motor fleet. Together …
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VIDEO: Donald Trump to 'stick by' aide
Donald Trump has said he will 'stick by' the campaign manager, Corey Lewandowski, who has been charged with assaulting a journalist.
Bermuda-Based Artex Buys Hexagon Insurance PCC, to Boost ILS Capability
Artex Risk Solutions announced it has entered into a definitive agreement to acquire the cores of Guernsey-domiciled Hexagon Insurance PCC Ltd. and its subsidiaries. All regulatory approvals have been received and the deal is expected to close on March 31, …
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Insurance Claims from China’s Tianjin Port Blasts Rise to $3.5B: Swiss Re’s ‘sigma’
Insurance payouts from the chemical blasts at the Chinese Port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. The estimate of …
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Legacy Specialist Compre Arranges Deals with QBE and German Mutual
Compre, the London-based insurance and reinsurance legacy specialist, announced the signing of an agreement to acquire QBE’s share of the Ridgwell Fox & Partners’ (RFP) pool legacy reinsurance business. The transaction is structured as a loss portfolio transfer, to be …
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Tuesday, March 29, 2016
Ideas, Innovation and Mentorship Mix at Global Insurance Accelerator
Iowa, and Des Moines in particular, in the 1980s fostered a business climate that enabled insurance and financial institutions to prosper there. Today, the focus is on creating an environment that supports innovation and entrepreneurism in businesses that serve the insurance industry. “Des Moines …
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South Carolina Flood Relief Fund Awarding $760K to 18 Charities
South Carolina’s One SC relief fund is awarding $760,000 to 18 charities that are helping people recover from last October’s historic flooding. The awards announced Monday represent the second round of grants from the fund Gov. Nikki Haley launched in …
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Atlanta Airport, Uber Battle Over Background Checks for Drivers
A battle over background checks for Uber drivers at the world’s busiest airport comes as cities like Los Angeles and Austin, Texas, consider more thorough screenings to prevent criminals from getting behind the wheel. Uber has objected to the Atlanta …
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Mississippi woman guilty in IS case
A Mississippi woman pleads guilty to charges that she tried to join the so-called Islamic State militant group in Syria.
Scott Rejects CFO’s Pick for Florida Insurance Head, Application Reopened
Florida Gov. Rick Scott made it known Tuesday that his choice for the next Florida insurance commissioner would not be State Representative Bill Hager. “I won’t second it,” was Scott’s quick response to Chief Financial Officer Jeff Atwater’s motion to …
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Ames & Gough Hires Sinks as Broker in Virginia
Ames & Gough, a specialty insurance brokerage based in McLean, Virginia, has hired Cady M. Sinks as a broker. Sinks has more than 12 years of experience in risk and insurance services. At Ames & Gough, she is responsible for …
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Koeleveld Joins NYS Department of Financial Services as General Counsel
Celeste Koeleveld has been appointed general counsel at the New York State Department of Financial Services (DFS). Koeleveld will lead DFS’s Office of General Counsel and be responsible for all legal matters in the agency, reporting directly to the superintendent. …
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Startup Slice, Offering Insurance for On-Demand Workers, Raises $3.9M
Slice Labs Inc., an instech startup set to launch an on-demand platform to sell insurance to participants in the on-demand economy, said it has secured $3.9 million in seed funding led by Horizons Ventures and XL Innovate. The Slice on-demand …
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'Several dead' in Canadian plane crash
At least six people die after a small plane crashes on an island off the east coast of Quebec, Canadian media report.
'No charges' over US balcony collapse
A district attorney investigating a balcony collapse in Berkeley, California, that killed five Irish students and one Irish-American says she will not be bringing any criminal charges in connection with the incident.
Oscar-winning US actress Patty Duke dies
American actress Patty Duke, who won an Oscar for playing Helen Keller in The Miracle Worker in 1963, dies aged 69.
Self-Driving Cars to Create Long Term Challenges for Auto Insurers: Moody’s
Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10 years, a benefit for auto insurers. Longer term, self-driving …
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Indictment: Former N.J. Insurance Salesman Stole Elderly Woman’s Savings
An insurance salesman in New Jersey whose license was revoked for defrauding elderly clients is now facing charges that he stole the $305,000 life savings of a 90-year-old family friend, state authorities said Monday. Robert Berlin faces several counts in …
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Yellen: Fed should 'proceed cautiously'
US Federal Reserve chair Janet Yellen has said global risks mean that the Fed should "proceed cautiously" before raising interest rates.
Former Iowa Firefighter Pleads Guilty to Insurance Fraud
A former Iowa firefighter has pleaded guilty to insurance fraud related to a string of cases spanning Buchanan, Clayton and Delaware counties, the Iowa Department of Insurance reported. Terry Russell Groth, a former Strawberry Point firefighter, entered the plea on …
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US orders families out in S Turkey
The US military says it is ordering families of defence personnel out of southern Turkey amid fears for their safety.
Unertl Joins Chicago’s Alper Services asBusiness Development Associate
Alper Services, headquartered in Chicago, has added Matt Unertl as business development associate. With 11 years of experience in the industry, Unertl most recently worked as a producer at a large international insurance broker where he designed and implemented cost-sustainable …
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USGS Report: North Texas Earthquake Risk ‘Elevated’
A U.S. Geological Survey report concludes the risk of earthquakes for the Dallas-Fort Worth area is higher than it’s ever been. The USGS review incorporates “induced” earthquakes into federal seismic hazard maps. That refers to quakes caused when wastewater from …
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Japan Opens Door to ‘Fintech’ Revolution with Plans to Ease Investment Rules
A laggard in embracing the ‘fintech’, or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals’ cash deposits. Strict regulation, …
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Kansas Forest Service: Giant Wildfire Mostly Contained
The biggest wildfire in Kansas history is largely contained, although firefighting efforts could be hindered by more gusty winds. The Kansas Forest Service says crews were patrolling areas hit by the wildfire that has burned at least 620 square miles …
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Why Companies Won’t Be Opting Out of Opt-Out Anytime Soon
A recent ruling by the Oklahoma Workers’ Compensation Court undercutting so-called “opt-out” systems has set off a flurry of speculation about such systems, including whether this ruling signals the beginning of their end. The short answer is: no. While this …
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EPIC Adds McKenzie to Southeast Benefits Consulting Team
EPIC Insurance Brokers & Consultants (EPIC), a retail property, casualty insurance brokerage and employee benefits consultant, announced today that Stephen McKenzie has joined the firm’s Employee Benefits Consulting team in Atlanta. Joining as a Benefits consultant, McKenzie brings 6 years of employee benefits …
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Trump aide charged with assault
Donald Trump campaign manager Corey Lewandowski is charged with assaulting a female journalist at a campaign event.
US pulls Tanzania aid over Zanzibar poll
A US government aid agency pulls $472m (£331m) of funding for a Tanzanian electricity project after criticising elections in Zanzibar.
Cross Insurance Adds 2 New Account Executives in Maine
Cross Insurance, an insurance agency headquartered in Bangor, Maine, has hired Abram Treadwell as account executive/Personal Lines and Sean Doyle as account executive/Commercial Lines. Both will be based in Cross Insurance’s Lewiston, Maine, office. Treadwell has more than a decade …
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Obama blames media for Trump's success
US President Barack Obama says the media is partly to blame for the rise of Republican Donald Trump as a political force.
Ash from Southwest Alaska Volcano Rises 20,000 Feet
A remote and active volcano on Alaska’s Aleutian Islands erupted, sending ash 20,000 feet into the air, scientists said. The U.S. Geological Survey says the Pavlof Volcano, which is about 600 miles southwest of Anchorage and roughly 40 miles from …
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Take1 in California Now a Lloyd’s Cover Holder
Take1 Insurance announced that it is now a cover holder with Lloyd’s of London to provide excess liability coverage capacity of up to an additional $5 million in limits. Minimum rates start at $750 per each million dollars of coverage. …
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The Top 5 Drone Markets and Future of Commercial Drone Use
There could be 7 million small drones in the sky by 2020, according to U.S. aviation officials, who believe that as many as 2.7 million of them will be used for commercial purposes. These same officials predict that small unmanned …
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Arthur J. Gallagher Acquires Continuum Solutions in New York
Arthur J. Gallagher Risk Management Services Inc, the retail property/casualty brokerage operation of Arthur J. Gallagher & Co., announced the acquisition of Continuum Solutions Ltd. in New York City. Terms of the transaction were not disclosed. Continuum Solutions provides business …
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British SME Owners Develop Contingency Plans for Potential ‘Brexit’
Above a factory floor of machines carving metal to within a millionth of a meter, Stephen Cheetham is preparing his company for the unknown: a British exit from the European Union. Since the government announced a referendum on Britain’s future …
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CEO of UK-Based Aviva Paid $8M in 2015, More Than Double His 2014 Paycheck
British insurer Aviva chief executive Mark Wilson’s take-home pay more than doubled to 5.67 million pounds ($8.1 million) last year, after the purchase of rival Friends Life, Aviva’s annual report showed on Tuesday. Aviva completed the 5.6 billion pound acquisition …
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AmWINS Gets Backing for Unicorn MGA from Berkshire Hathaway International
U.S.-based global insurance distributor AmWINS Group Inc. announced it has secured backing from AA+ rated Berkshire Hathaway International Insurance Ltd. for its London-based managing general agent (MGA), Unicorn Underwriting, to write motor fleet business. Unicorn will focus initially on specialist …
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Marketform Commited to All Current Underwriting Lines After Strategic Review
Specialist Lloyd’s underwriter Marketform has confirmed its commitment to all its current underwriting lines after completing a strategic review. These remaining lines are: accident & health, travel; bloodstock & livestock; cargo; financial lines; marine & energy liability; marine hull & …
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Hedge Funds Settle Press Release Hacking Claims for $18M
A Moscow-based hedge fund manager, his investment firms and two Paris-based funds have agreed to pay nearly $18 million to resolve a U.S. regulator’s claims that they engaged in insider trading using hacked press releases from newswire services. The U.S. …
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Monday, March 28, 2016
Federal Disaster Declared in 3 Mississippi Counties After Floods
President Barack Obama has declared a disaster in three Mississippi counties following flooding this month. Residents in the Bolivar, Coahoma and Washington counties can apply for individual assistance, including grants for temporary housing and repairs worth up to $33,000, as …
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Miner Killed in Eastern Kentucky Mining Accident
State officials say an eastern Kentucky coal miner has died in an accident at a Harlan County mine. A statement from the Energy and Environment Cabinet says 48-year-old Mark Frazier of Line Fork died Friday after being hit by falling …
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Swiss Re Corporate Solutions Adds Southern California Aviation Team
Swiss Re Corporate Solutions has established a regional aviation insurance team that operates out of the Santa Ana, Calif. office. Swiss Re Corporate Solutions offers a range of aviation insurance products, from physical aircraft damage insurance to liability coverages for …
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FBI breaks into dead gunman's iPhone
The FBI has managed to unlock the iPhone of the dead San Bernardino gunman without Apple's help, ending a court case, US officials say.
VIDEO: US shooting 'act of a single person'
Capitol Police Chief Matthew Verderosa says he believes a gun suspect at the US Capitol building's visitor centre in Washington acted alone.
Arkansas Orders Florida Health Plan to Stop Selling in State
Insurance Commissioner Allen Kerr has issued a cease and desist order against Health Plan Intermediaries Holdings LLC., dba Health Insurance Innovations (HII), a Tampa, Florida-based company, alleging the company has used fraudulent and dishonest practices in attempting to sell short-term …
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VIDEO: 'They told us to hit the floor so we did'
A man who was in the US Capitol building's visitor centre when shots were fired describes the moment they were told to get down.
VIDEO: Visitor Centre 'told us to be quiet'
Tourists Madelyn and Jared Morris describe what happened when shots broke out during their trip to the US Capitol building's visitor centre in Washington.
Valeant boss to testify on drug pricing
The chief executive of Valeant Pharmaceuticals has been ordered to give evidence about rising drug prices to a Senate committee.
VIDEO: Footage of Washington shooting scene
Gunshots have been reported at the visitor centre at the US Capitol in Washington and workers have been told to take shelter.
'Gunshots' at US Capitol in Washington
Gunshots are reported at the visitor centre at the US Capitol in Washington DC and workers are told to take shelter.
U.S. Seismic Risk Maps Now Include Earthquakes Caused by Humans
Earthquakes caused by human activity will now be included in the U.S. Geological Survey’s seismic risk maps, the agency said on Monday after a sharp rise in temblors linked to wastewater disposal wells used by the oil and gas industry …
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Anbang ups offer for Starwood to $14bn
Chinese insurance firm Anbang raised its offer for Starwood Hotels to $14bn (£9.8bn), extending a bidding war with Marriott.
Music streaming service boss departs
Shares in Pandora have fallen more than 10% after the US music streaming service said chief executive Brian McAndrews had left the company.
Uber Launches Service in Montpelier, Vermont
The ride-hailing service Uber is now operating in Montpelier, Vermont. The San Francisco-based company says riders requesting a car in Montpelier can be dropped off at points outside the city, including in Barre, Hyde Park, Waitsfield and Charlotte. Mayor John …
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Pioneer Bank to Acquire Anchor Agency in New York
Pioneer Bank, based in Troy, New York, announced that it will acquire Anchor Agency Inc., an independent insurance agency in Albany, New York. Terms of the transaction were not disclosed. Established in 1960, Anchor Agency has been providing personal insurance, …
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ISO Introduces Drone Coverage Options for Commercial Inland Marine Market
ISO has launched inland marine insurance forms for businesses using commercial drones to protect them from the costs potential crashes, including damage to the drones, their equipment, and their cargo. The new ISO forms offer underwriting tools to address commercial …
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China’s Anbang Insurance Ups Offer for Starwood Hotels to $14B
China’s Anbang Insurance Group Co. has raised its offer for Starwood Hotels & Resorts Worldwide Inc. to almost $14 billion in its latest challenge to the U.S. hotel operator’s merger with Marriott International Inc. The bidding war for Starwood has …
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FEMA to Louisiana Flood Victims: Don’t Wait to Begin Repairs
The Federal Emergency Management Agency is urging Louisiana residents whose homes were damaged during recent floods not to wait for a FEMA inspector before beginning to clean up and conduct repairs. FEMA spokeswoman Deanna Frazier said in a news release …
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Federal Disaster Aid OK’d for 6 More Texas Counties
Six more Texas counties hard-hit by flooding and severe storms this month are now eligible for federal disaster aid. The Federal Emergency Management Agency announced Saturday Erath, Gregg, Harrison, Hood, Marion and Parker counties have been added to a federal …
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Louisiana Governor Seeks Disaster Declaration for 9 More Parishes
Gov. John Bel Edwards has asked President Barack Obama to amend the federal disaster declaration for the state to include nine additional parishes: Catahoula, East Carroll, Franklin, Jackson, Lincoln, Rapides, Red River, Sabine, and St. Helena. In a news release …
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South Dakota Signs Bill Allowing Insurance Tax Credits for Private School Scholarships
South Dakota insurance companies would get tax credits for donating to private-school scholarships under a measure Gov. Dennis Daugaard signed into law, providing the financial backing for a school-choice program that supporters say gives parents an opportunity to be more …
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Hospital in Iowa City Reports Patient Information Breach
An Iowa City hospital is warning patients that some of their personal information may have been accessed through a computer virus. The Iowa City Press-Citizen reports an investigation revealed that a computer virus that is designed to capture personal data …
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Worldwide Facilities Adds Collins, Sheehan in Dallas
National wholesale brokerage and managing general agent Worldwide Facilities LLC is adding two new members to its team in Dallas Philip Collins joins Worldwide Facilities as senior vice president, Financial Services. With more than a decade of experience placing risk …
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Oklahoma Insurance Commissioner: Man Scammed Moore Tornado Victims
An Oklahoma City man is facing felony charges for scamming a Moore couple out of $3,577.53. The money was part of the insurance settlement the couple received after their home was damaged in the March 25, 2015 tornado. “We will …
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March 31: Deadline for Early Registration for Global Insurance Symposium
The early bird registration deadline for the third annual Global Insurance Symposium is Thursday, March 31. The Global Insurance Symposium will be held on April 26-28, 2016 in Downtown Des Moines, Iowa. It is hosted by the Iowa Insurance Institute, …
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Chicago Auto Insurance Fraud Ring Can Be Tried in Iowa: Court
Three people from Wisconsin or Illinois who are charged with operating a car insurance fraud ring can be prosecuted in Iowa, even though they never set foot in the state, the Iowa Supreme Court ruled. Police say the trio staged …
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Delaware Prohibits Limiting Transgender Health Care Coverage
Insurance companies in Delaware will be prohibited from limiting health care coverage for transgender individuals. The News Journal of Wilmington, Delaware, reports that Delaware has become the 15th state in the country to prohibit private insurers from denying, canceling, terminating …
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New Jersey Bill Would Make Texting While Walking Illegal
Jared Schumacher is among the hundreds of thousands of New Jerseyans who routinely use electronic devices to text, listen to music or do other tasks as they walk outdoors. But if a “distracted walking” measure recently proposed by a state …
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Georgia vetoes 'religious freedom' bill
The governor of the US state of Georgia vetoes a "religious freedom" bill after facing pressure from business interests.
Utah Woman Files Suit Against Polygamy Reality TV Show for Trespassing
A Utah woman who is part of a polygamous group alleges that makers of a reality TV show barged into her house without permission and pressured her daughter into being in a series about people leaving polygamy. Susan Nelson alleges …
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Energy Downturn Driving Populous from Wyoming
More people are leaving Wyoming than are coming to the state in the wake of thousands of jobs being lost in the fossil fuels extraction industry, and it’s a trend that an economist doesn’t see reversing until oil and gas …
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Washington Man’s Suit Claims Medical Device Caused Brain Damage
A Washington man is suing a California company, claiming its medical device used to treat aneurysms malfunctioned and caused him to suffer brain damage. The Penumbra Coil 400 was used to treat an aneurysm Dennis Montgomery suffered in 2013, according …
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Toronto says goodbye ex-mayor Rob Ford
The former mayor of Toronto, Rob Ford, who died of cancer this month, is lying in repose in a ceremony in Toronto and visitors are paying their respects.
Cracks emerge in US Supreme Court fight
Several Republican senators are considering Merrick Garland's nomination to the Supreme Court despite calls to leave the selection to the next president.
Fidel Castro scorns Obama's Cuba visit
Fidel Castro breaks his silence over President Obama's Cuba visit in a damning letter published in a state-run newspaper.
How to Use Social Media, Surveillance to Catch Workers Compensation Lies
As workers’ compensation fraud costs top out at an estimated $7.2 billion a year, according to the National Insurance Crime Bureau, insurers are looking at ways to combat the crime. There are several warning signs that a workers’ compensation claim …
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Ironshore International Buys Sydney-Based Savannah Insurance Agency
Ironshore International has acquired the Savannah Insurance Agency of Sydney, Australia, effective immediately. The Savannah Agency team of underwriters will join Ironshore Australia offices, broadening its regional presence by offering select specialty business lines. Katherine Simmonds, managing director of Ironshore …
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Fairfax Financial to Buy 33% Stake in India’s Bangalore Airport for $322 Million
Indian airport operator GVK Power & Infrastructure Ltd. said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings Ltd., helping cut debt. The shares rose. Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 …
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Chubb Appoints P&C Risk Engineering Leadership Team in Asia Pacific
Chubb has appointed Darren Cant as its head of Risk Engineering for Property and Casualty in Asia Pacific. He will continue to lead the region’s P&C Risk Engineering Services team, comprising 32 risk engineers based in 10 countries. In addition, he will retain his …
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Most Doctors Overprescribe Opioids: NSC Survey
Most doctors– 99 percent — are prescribing highly addictive opioid medicines for longer than the three-day period recommended, according to a national survey. Twenty-three percent prescribe at least a month’s worth of opioids. Also, according to the survey by the …
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Carpenter Launches New Version of Client Portfolio, Risk Management Platform
Guy Carpenter & Co. announced the launch of GC AdvantagePoint® 2.0, the latest release of its client portfolio and risk management platform. With GC AdvantagePoint 2.0, clients are able to easily leverage the technology to make strategic decisions through the …
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US museum returns statue to Cambodia
A US museum returns to Cambodia an ancient statue of a Hindu god, stolen from the South East Asian country during its civil war.
ISO to Collect Terrorism Insurance Data for Treasury
The property/casualty insurance data and rating organization ISO will collect and help analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with gauging the effectiveness of the federal terrorism risk insurance program. ISO, …
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Prepare for Disruption in High Net Worth Insurance Segment
ACE’s $28.3 billion purchase of Chubb will create a major disruption in the luxury insurance market. When the integration of the two insurers is complete, the new company is anticipated to control approximately $6 billion of annual premiums on personal …
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Sunday, March 27, 2016
TV nun Mother Angelica dies aged 92
Mother Angelica, a US Roman Catholic nun who founded a global media empire, dies aged 92.
Collector Comics Worth Over $200k Stolen From Georgia Store
Rare “Justice League” and “X-Men” comic books valued at more than $200,000 have been stolen from a central Georgia store. Will Peavy, owner of Comics Plus in Macon tells WMAZ-TV that someone broke into the store on the night of …
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West Virginia Governor Approves Stiffer Penalties for Passing School Buses
West Virginia Gov. Earl Ray Tomblin has approved increased penalties for passing stopped school buses. Tomblin signed the bill March 24. On a first offense, drivers passing a school bus that stopped to pick up or drop off students could …
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Tennessee Doctors Sued for Operating Pill Mill, Defrauding Government
The United States government and the state of Tennessee have sued a Lenoir City chiropractor and a Manchester doctor, accusing them both of fraud and operating pill mills. Officials with the U.S. Attorney’s office in Nashville say the men are …
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Batman v Superman takes $424m globally
Batman v Superman: Dawn of Justice takes $424m (£300m) at the box office worldwide in its first five days - despite poor reviews.
Trump laments 'ripped off' America
US presidential hopeful Donald Trump vows an "America First" foreign policy and says many nations, including allies, have "ripped off" the US.
Saturday, March 26, 2016
Tribeca festival withdraws MMR film
New York's Tribeca film festival will not show Vaxxed, a controversial film about the MMR vaccine, its founder Robert De Niro says.
VIDEO: US police find Mexico border drug tunnel
US police have released pictures of a drugs smuggling tunnel that runs from a restaurant in Mexico to a house in California.
Activist investor wants new Yahoo board
Activist investor Starboard Value calls for replacement of entire Yahoo board after its "dismal performance".
Sanders battles to claw back Clinton
Bernie Sanders takes his battle with the frontrunner for the Democratic nomination for the US presidency, Hillary Clinton, to Hawaii, Washington and Alaska.
Brussels shows a vast gap between US parties
Will Clinton bring parties together on counter-terrorism?
Friday, March 25, 2016
VIDEO: Bird steals the show at Sanders rally
US Democratic presidential candidate Bernie Sanders was interrupted by a bird landing on the podium at a campaign rally.
The families whose homes were demolished by mistake
The families who lost their homes in a disastrous mistake
Cruz blames Trump for 'tabloid smear'
The feud between Republican presidential candidates Ted Cruz and Donald Trump is becoming increasingly personal, with Mr Cruz accusing "sleazy Donald" of spreading rumours.
Long voting lines in Arizona decried
Officials in Arizona are asking the US Department of Justice to investigate the lack of polling stations in poor or minority areas for the state's primary.
The Final 2: Bragg, Hager Last Men Standing for Florida Commissioner Job
For the first time in 13 years, Florida is preparing to appoint a new insurance commissioner. The pool of 55 candidates has been whittled down to just two. Per recommendation of the Florida Cabinet, Jeffrey Bragg and Florida State Rep. …
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New York Set to Legalize Professional Mixed Martial Arts
New York’s Assembly voted 113-25 on March 22 to legalize mixed martial arts, clearing the way for fights late this year and expanding the combat sport into the last state to still prohibit it. New York Gov. Andrew Cuomo supports …
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Penn. Encourages Motorcyclists to Take Actions to Reduce Risk This Spring
Pennsylvania Insurance Commissioner Teresa Miller is advising all drivers to be aware of motorcycles, as warmer weather means more motorcyclists on Pennsylvania roadways. Miller is also encouraging motorcyclists to consider safety measures which can save lives, reduce injuries, and save …
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Security Worker Dies, Possibly from Nitrogen Exposure, in Ohio Steel Plant
A security worker at a steel plant in Ohio may have died from nitrogen exposure, federal investigators said. The Occupational Safety and Health Administration said the 32-year-old worker was found dead inside TimkenSteel’s Faircrest Plant in Canton on March 20. …
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Lawyers Seek Mercy for Ex-New York Senate Leader Skelos and Son
New York’s former Senate leader and his son, who were convicted alongside one another on charges that the once-powerful Republican used his office to extort about $300,000 in salary and other benefits for the son, asked a federal judge on …
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Iardella Joins Arthur J. Gallagher as VP, Investor Relations
Itasca, Ill.-based Arthur J. Gallagher & Co. has added Raymond Iardella as vice president, Investor Relations. Iardella spent the last 13 years in various roles within the insurance, equity research and asset management industries. Most recently, he was an analyst …
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Homes Damaged by Severe Storms in Northwest Arkansas
Three homes were damaged and another was destroyed in northwest Arkansas when severe weather swept through the area. The Washington County Sheriff’s Office says the damage was reported late on March 23 in Evansville, which is about 35 miles west …
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Higginbotham, Capps Insurance Agency Merge
Independent insurance broker Higginbotham, headquartered in Fort Worth, and Mount Pleasant, Texas-based Capps Insurance Agency have joined forces. Higginbotham’s partnership with Capps brings its total number of employees to 750 in 24 offices throughout the state. Both firms have long …
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State Farm Latest Company to Stop Donating to N.J. Rep. Garrett
Add the nation’s largest property-casualty insurer to the growing list of financial companies that won’t be donating to U.S. Representative Scott Garrett in the wake of his alleged anti-gay remarks. State Farm Mutual Automobile Insurance Co., which contributed $2,000 to …
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Archdiocese in Washington Settles 8 Abuse Cases for $9M
The Seattle Archdiocese in Washington will pay just over $9 million to eight women who were sexually abused as children by a former priest in Whatcom and Skagit counties. The abuse occurred between 1968 and 1974 at churches in Burlington, …
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Investor Group Urges California to Delay Retirement Plan
California should delay action on a proposed state-run retirement savings plan for private-sector employees because it could end up leaving taxpayers on the hook, the Investment Company Institute said in a letter Thursday to state Treasurer John Chiang. The program, …
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Wells Media’s Dunford Departs
San Diego-based Wells Media Group announced that Mitch Dunford, chief executive officer, has resigned to pursue other career opportunities. Dunford, a former San Diego police officer, has been with Wells Media for 15 years. After leaving the San Diego police …
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El Niño and North Atlantic Oscillation Key Climate Drivers in 2015: Guy Carpenter
One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and flooding in …
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US man arrested over old video rental
A North Carolina man is arrested after he failed to return a movie he rented 14 years ago.
10 ACP Re Insurers Miss Deadline; A.M. Best Places Ratings Under Review
A.M. Best said it has placed under review with negative implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of ACP Re Ltd., based in Hamilton, Bermuda and 10 of its reinsured …
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US man 'stole N Korea state secrets'
A US citizen detained in North Korea says he stole military secrets to aid South Korea, during a press conference organised by Pyongyang.
Lloyd’s Insurers Lead New Trend to Sell Legacy Portfolios: Willis Towers Watson
The majority of Lloyd’s businesses (77 percent) are considering legacy portfolio disposals, with more than half of firms based in western Europe (53 percent) expecting to make at least one sale in the next three years, according to Willis Towers …
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US economic growth revised upward
The US economy grew at an annualised rate of 1.4% in the fourth quarter of 2015, according to official figures.
OSHA Issues Final Rule on Silica Exposure Protections; Industries Vow to Overturn
Capping a decades-long effort, U.S. workplace regulators on Thursday announced a final rule to boost protections against occupational exposure to crystalline silica, a carcinogenic dust ubiquitous in construction, foundries and fracking. Some industry groups have vowed to fight it in …
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How Much Do U.S. Health Insurance Tax Breaks and Subsidies Cost?
U.S. taxpayers will fork over $660 billion this year to subsidize health insurance for people under 65, the vast majority of whom have coverage through their employers, the Congressional Budget Office said on Thursday. In its most comprehensive report on …
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Judge Grants VW More Time for Diesel Fix
Volkswagen AG was given four more weeks to reach an agreement with regulators for getting 600,000 diesel vehicles off U.S. roads as it faces hundreds of lawsuits for rigging pollution control systems to cheat emissions tests. U.S. District Judge Charles …
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Obamacare Exchanges Enrolled Estimated 12 Million This Year
About 12 million people will be covered through Obamacare’s insurance marketplaces this year, the Congressional Budget Office said Thursday in a new estimate, a sign of the government’s continuing difficulties in getting people signed up for insurance under the 2010 program. …
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Re/Insurers Must Respond to Evolving Terrorist Risk with Relevant Products: JLT
The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty Ltd. Indeed, evidence that insurance has absorbed …
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VIDEO: John Kerry: 'We will not be intimidated'
The US Secretary of State John Kerry has delivered a message of defiance to so-called Islamic State militants while visiting Brussels.
Ageas UK Appoints Cardinus Risk Management to Provide Risk Surveys & Platform
Ageas UK has hired Cardinus Risk Management to provide both risk management survey software and on-site survey services to support commercial lines underwriting. Risk surveys, which are obtained by a visit to a client’s business, are an important part of …
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Chubb’s Overseas General Appoints Puleo as Head of Custom Industry Solutions
Chubb announced that Bill Puleo has been appointed senior vice president, head of Custom Industry Solutions for Overseas General Insurance, the company’s international general insurance business, with immediate effect. In his new role, Puleo will be responsible for leading the growth and …
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VIDEO: US and Russia in Syria peace process pledge
US Secretary of State John Kerry says he has agreed with Russia to accelerate work towards a political transition in Syria.
Thursday, March 24, 2016
North Carolina-Based Duke Energy to Turn Pig Poop Into Power
Duke Energy Corp. announced plans to expand its renewable energy from livestock waste, adding poop power to investments the country’s largest electric company has made in whirring wind turbines and acres of solar arrays. The Charlotte-based utility said it contracted …
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OSHA Cites West Virginia Saw Mill for Safety, Health Violations
Federal regulators have cited a Princeton saw mill for alleged workplace safety and health violations, including a lack of protective equipment worn during the operation of a chainsaw. The Occupational Safety and Health Administration says in a news release that …
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South Carolina’s Clemson University Settlement Includes Anti-Hazing Program
South Carona’s Clemson University has agreed to create more anti-hazing programs as part of a lawsuit settlement involving a former soccer player. The Greenville News reported the school will spend $40,000 on the programs after a female soccer player said …
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Safety National Appooints Divine as Sr. VP – Finance
Safety National Casualty Corp., based in St. Louis, Mo., has appointed Steve Divine to the position of senior vice president – Finance. In addition to leading Safety National’s Finance Department, in his new role, Divine will become a member of …
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Hailstorms Pummel North Texas, Again
Large hail and strong winds caused considerable damage in heavily populated areas of north Texas overnight on March 23. It is the second time in March that the area has been pummeled by hail. Car windows and sky lights were …
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VIDEO: Driver survives fall from rooftop car park
Baltimore County officials have released security camera footage showing the moment a car fell from the fourth floor of a parking garage.
VIDEO: BBC Pop Up heads to India
India is not only home to the world's largest democracy, but it will soon also be home to our travelling documentary unit, BBC Pop Up.
New York Trains More Than 100K Residents in Disaster Response
More than 100,000 New York state residents are now trained in how to help out during a natural or man-made disaster. New York Gov. Andrew Cuomo says the Citizen Preparedness Corps reached the milestone on March 21. The training program …
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O’Grady Joins Maryland Insurance Administration as Associate Commissioner
Maryland Insurance Commissioner Al Redmer, Jr., announced the appointment of Vincent P. O’Grady as the Maryland Insurance Administration’s (MIA) new associate commissioner, Examination and Audit. O’Grady brings three decades of executive-level finance experience to MIA, including time with public accounting …
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Illinois Agency Joins Missouri-Based Insurance Agency Alliance
Larry Goss Insurance in Mt. Vernon, Ill., has joined Valley Insurance Agency Alliance (VIAA), a network of 100 independent insurance agencies in Missouri and Southern Illinois. Larry Goss Insurance is a full-service insurance agency that specializes in home, business, auto, …
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Arkansas Jury Sides with City in Employee Discrimination Suit
A jury has cleared Little Rock, Ark., of claims that city officials discriminated in their salary considerations for a black diversity manager. The Arkansas Democrat-Gazette reports that the all-white jury determined that the city didn’t base its 2010 decision to …
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PERILS Raises Insured Property Loss Estimate for UK Storms Eva & Frank to £578M
Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS, the independent Zurich-based organization that provides …
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Report: State of Michigan ‘Fundamentally Accountable’ for Flint Water Crisis
The state of Michigan is “fundamentally accountable” for Flint’s lead-contaminated water crisis because of decisions made by its environmental regulators and state-appointed emergency managers who controlled the city, an investigatory task force concluded on March 23. The panel, appointed by …
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Universal Property & Casualty’s Expansion Continues With License in N.Y.
Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has been approved by the New York State Department of Financial Services as a licensed insurance …
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Thousands of Acres Burn in Oklahoma, Kansas
Authorities say a wildfire that started in Oklahoma and spread into Kansas has burned tens of thousands of acres of rural land. The National Weather Service says the fire started Tuesday night near the Kansas border in Woods County, Oklahoma. …
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Michigan Auto Insurance Fee for Catastrophic Injuries to Increase
The annual auto insurance fee that Michigan drivers pay toward caring for people catastrophically injured in crashes is rising to $160, a $10 increase. The Michigan Catastrophic Claims Association announced the new per-car assessment for the 12 months starting July …
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Texas Regulators March Hail Storm Was Insurance ‘Catastrophe’
The Texas Department of Insurance has determined the weather-related event that occurred March 16, 2016, through March 17, 2016, in the counties of Dallas, Tarrant, Johnson, and Parker is a catastrophe for the purpose of claims processing. The designation allows …
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Michigan Insurance Regulators: Over 8,600 Consumers Assisted in February
The Michigan Department of Insurance and Financial Services said its Office of Consumer Services assisted 8,698 consumers across the state and helped recover $422,195 during February. DIFS Director Patrick McPharlin said some notable recoveries staff assisted with were: Helping a …
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R-T Specialty to Acquire Hartan Brokerage in New York City
R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC in Chicago, announced that it has reached an agreement to acquire substantially all of the assets of Hartan Brokerage, a wholesale insurance brokerage operation based in New York …
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Kentucky Sues Volkswagen Over Diesel Emissions Cheating
Kentucky sued Volkswagen AG and its luxury units on Tuesday claiming the German automaker’s diesel emissions cheating scheme violated the state’s Consumer Protection Act. “Volkswagen must be held accountable for its false and misleading promotion and sales of its vehicles …
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PartnerRe Appoints EXOR’s Elkann as Chairman; Clarke Named CEO
EXOR SpA Chief Executive Officer John Elkann was named chairman of PartnerRe, the reinsurer that his investing firm acquired for [$6.9 billion on March 18, 2016 in its largest takeover]. PartnerRe President Emmanuel Clarke was named CEO of the reinsurer, …
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Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports
Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new reports. “Stripping out these two factors, …
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Uber, Lyft Will Begin Operations at Seattle Airport
Ridesharing services, like Uber and Lyft, will soon be allowed to pick up riders at Washington’s Seattle-Tacoma International Airport. Seattlepi.com reported the Port of Seattle announced this week it would allow the companies to operate at the airport as part of a …
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Treasure Island Restaurant on Vegas Strip Evacuated After Kitchen Fire
Officials say no one was hurt in a small kitchen fire at a restaurant at the Treasure Island hotel-casino property on the Las Vegas Strip. Casino spokeswoman Michelle Knoll said the grease fire in the Senor Frog’s Restaurant and Bar …
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VW May Miss Court Deadline for Diesel Fix with U.S. Regulators
Volkswagen AG will probably miss a Thursday court deadline to reach a comprehensive agreement with U.S. authorities over its tainted diesel engines, possibly exposing the carmaker to daily fines and other sanctions. While talks have intensified in recent days, Volkswagen …
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Health Insurers Working to Improve Provider Network Directories
Some health insurers are hoping to ease headaches that can flare when customers try to confirm whether a doctor is covered in a plan’s network of providers. The trade association America’s Health Insurance Plans will soon start testing a more …
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How Telematics Saves on Claims, Improves Customer Experience
Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …
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Fidelis Insurance Promotes Savill to Group Chief Underwriting Officer
Fidelis Insurance announced that Ben Savill has been promoted to group chief underwriting officer, subject to approval from the Bermuda Department of Immigration. He assumes this role from Richard Brindle who held it jointly with his position as group chief …
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Lloyd’s Underwriter Marketform Sells Medical Malpractice Businesses to Beazley
Specialist Lloyd’s underwriter Marketform announced it has sold its UK Open Market Medical Malpractice and UK / International Delegated Authority Insurance businesses to Beazley. The team being transferred is led by Alex Wakeley, a Marketform veteran of more than 20 …
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AIR Says Brussels Attacks Have Limited Insurer Impact; FERMA Issues Comment
The deadly coordinated attacks in Brussels on March 22, which killed 33 people and wounded 260. are expected to have limited impact on the insurance industry, according to catastrophe modeling firm AIR Worldwide. Loss of life and injuries to individuals …
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Wednesday, March 23, 2016
Florida Beach City Businesses Say Spring Break Laws Hurting Sales
Businesses in Panama City Beach, Fla., say new laws aimed at cutting down excessive spring break drinking are also hurting sales and forcing layoffs. Bars, restaurants, scooter shops and other businesses say they’re letting employees go as sales have dropped …
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Officials: Mississippi Flood Damage Most Widespread Since Hurricane Katrina
Mississippi officials say the damage from floods this month is the most widespread the state has had since Hurricane Katrina. Mississippi Emergency Management Agency Director Lee Smithson tells The Clarion-Ledger federal and state assessment teams have been on the ground …
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$250K in Boat Motors Stolen from South Carolina Marine Dealership
Investigators say thieves have stolen $250,000 worth of boat motors from a marine dealership on Lake Murray. Lexington County deputies said in a news release that a white van broke into the lot at Captain’s Choice Marine on U.S. Highway …
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VIDEO: Obama invited to tango in Argentina
US President Barack Obama and First Lady Michelle Obama were both invited to step out and try Argentina's national dance, the tango, at an official state dinner.
Federal Appeals Court Sides with Lexington Insurance in Deductible Dispute
A federal appeals court in New Orleans has upheld a lower court’s ruling in favor of an insurance company in a breach of contract suit brought by a Houston-based oil and gas exploration and production company. The dispute in Saratoga …
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VIDEO: 'Dog carer' for cheetah cubs born by C-section
Five cheetah cubs who lost their mother just after they were born, are being taken care of by a companion dog at the Cincinnati Zoo in the US.
Chubb Names Leaders for Expanded Small Commercial Division for North America
Chubb has launched its Small Commercial Insurance division for North America, which will offer management and professional liability and standard insurance coverages for small businesses with annual revenues up to $10 million. The insurer said Chubb Small Commercial Insurance, which already has financial …
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ACIC’s Sektnan Named Chair of Civil Justice Association of California
Association of California Insurance Companies President Mark Sektnan has been named chairman of the board for the Civil Justice Association of California. Sektnan will serve a two-year term as chai. His duties will include overseeing board meetings and serving on …
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Thompson Named Iroquois Group General Manager in Southern California
Bruce Thompson has joined The Iroquois Group as a regional manager in Southern California. His background is in property/casualty, as well as life insurance, and includes experience as a producer, agency owner, and carrier territory manager. Thompson was the territory manager …
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London-Based Chubb Global Markets Announces Lineup of Management Team
Chubb Global Markets, the London-based wholesale insurance division of Chubb, has announced the lineup of its management team. All appointments are effective immediately. As previously announced, Matthew Shaw will serve as executive vice president, Europe, and division president, Chubb Global Markets. Each of the following …
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Newtown Families Tout Progress of Federal Mental Health Bill
Some family members of the Sandy Hook Elementary School shooting victims in Connecticut are cheering the recent committee passage of a bipartisan, federal mental health bill that’s moving through Congress. Much of the legislation, known as the Mental Health Reform …
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Northwest Bank to Acquire Best Insurance Agency in Pennsylvania
Northwest Bank, based in Warren, Pennsylvania, announced that it has signed a definitive agreement, effective April 1, to acquire Best Insurance Agency Inc., an employee benefits and property/casualty insurance agency in Butler, Pennsylvania. Terms of the transaction were not disclosed. …
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Texas Seeks Data on Weather-Related Property Claims, Lawsuits
The Senate Business and Commerce and the House Insurance Committees of the Texas Legislature have requested data from the Texas Department of Insurance related to weather-related property claims, the incidence of lawsuits related to these claims, and the impact this …
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Lim Named Asst. VP, Management Liability Zone Leader at CNA
Chicago-based insurer, CNA, has appointed David Lim as assistant vice president, management liability zone leader for the Northern Zone. In this role, Lim is responsible for providing overall underwriting expertise for the public and private company management liability book of business in the …
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Jury Awards $20.6M to Missouri Woman Exposed to Carcinogen
A southwest Missouri woman has been awarded $20.6 million in damages after federal jurors found that a company exposed her to a toxic chemical that left her with permanent disabilities. The Joplin Globe reports that a jury hearing Jodelle Kirk’s …
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With Property Claims Added, North Texas Hail Damage May Reach $600M
An insurer trade group says it estimates that damage caused by hailstorms that rolled through the Fort Worth area last week will reach $600 million in auto and property claims. Mark Hanna, a spokesman for the Insurance Council of Texas, …
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Fire Warning Covers more than Half of Oklahoma’s Counties
More than half the counties in Oklahoma are under a red flag warning as extreme fire conditions are expected through today. Oklahoma Forestry Services officials say the warning affects 44 counties — particularly in northwestern Oklahoma, where some wind gusts …
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Ridesharing Insurance Bill Signed by South Dakota Governor
Legislation addressing insurance gaps for commercial ridesharing drivers has been signed by South Dakota Gov. Dennis Daugaard, the Property Casualty Insurers Association of America (PCI) reported. House Bill 1091 was approved by the South Dakota Legislature March 10, 2016. PCI …
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$5.8M Award Against Tyson Foods in Iowa Pay Dispute Upheld
The U.S. Supreme Court has ruled for more than 3,000 workers at a Tyson Foods Inc. pork-processing plant in Iowa in a pay dispute with the company. The justices voted 6-2 on to reject new limits Tyson asked them to …
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NJM Insurance Hires Marrero as Consumer Safety Administrator
NJM Insurance Group, one of New Jersey’s leading automobile insurers, has hired Violet Marrero as its consumer safety administrator. She is based in NJM’s West Trenton, New Jersey, headquarters office. In her new role, Marrero will manage the day-to-day activities …
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Brit Leads New Commercial General Aviation Consortium at Lloyd’s
Brit Ltd., the global specialty insurer, has launched a Lloyd’s consortium for commercial general aviation. Now quoting business, the consortium is being led by Brit with capacity also being provided by Kiln, Hiscox, Apollo and Pritchard, and is the only …
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Worker Claims Retaliation over Asbestos Report at Wyoming’s Old Faithful Inn
A maintenance worker at Yellowstone National Park in Montana said a park concession company retaliated against him after he reported that he and five other employees were exposed to asbestos at a more than century-old lodge. Jon Kline told The Associated …
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SAN Group Hires Prouty as Eastern Massachusetts Regional VP
Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast, has hired Cindy Prouty as regional vice president of Eastern Massachusetts. In this position, Prouty is responsible for membership service, development, and insurance company relations …
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Fire Causes Hotel Evacuation in Las Vegas Strip
An escalator fire sent smoke billowing into parts of Las Vegas’ glitzy Caesars Palace, sending three hotel workers to the hospital with smoke inhalation and leading to an evacuation early Monday, officials said. The blaze reported about 3:30 a.m. came …
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FDA Extends Required Warnings to Short-Acting Opioid Painkillers
Short-acting opioid painkillers will carry strong new warnings under U.S. Food and Drug Administration requirements announced on Tuesday that will bring information about addiction and abuse in line with that on long-acting pills. The FDA’s action comes a week after …
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AIG Continues with Job Cuts; Warns 242 in New York Next to Go
American International Group Inc., the insurer that’s been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City. The reductions will take place through Sept. 30, and include its Water Street …
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Lloyd’s Profit Drops 30% in 2015 on Weak Prices and Lower Investment Income
Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001. Earnings declined to 2.1 billion pounds ($3 …
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Supreme Court Rules for Workers in Class Action Against Tyson
The U.S. Supreme Court on Tuesday handed a loss to Tyson Foods Inc. over the company’s challenge to an almost $5.8 million class action judgment in a case won by workers at an Iowa pork-processing facility who contended they were …
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P&I Clubs Plug Shortfall in Iran Oil Cover; US Reinsurers Still Barred by Sanctions
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …
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Former U.S. Security Specialist’s MGA Ridge Global Tackling Cyber Risks
It may be surprising to some that a former governor and head of National Security started an insurance company focused on cyber risk, but Tom Ridge, president and CEO of Ridge Global says it shouldn’t be. “While the world is …
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China’s Fosun Weighs IPO for Ironshore, Just 4 Months After Acquiring Insurer
Fosun International Ltd., the Chinese conglomerate led by billionaire Chairman Guo Guangchang, is weighing a possible initial public offering for Ironshore Inc., just months after acquiring the insurer. Fosun may also pursue a sale of Bermuda-based Ironshore, according to a …
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Tuesday, March 22, 2016
Chubb Global Cyber Practice Launches Service to Combat Ransomware Attacks
In response to a 430-percent growth rate in Chubb’s criminal-related cyber losses over the past five years, Chubb’s Global Cyber Risk Practice has launched a service to assist policyholders with ransomware attacks. This is the first new offering from Chubb’s …
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Explosion at Georgia College Under Investigation, Worker Seriously Injured
The president of an Atlanta-area college says an explosion that seriously injured a food worker could be linked to a buildup of gases in a sewer line. A statement from Georgia Gwinnett College President Stas Preczewski says an unknown spark …
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Roundabouts Reduce Accidents, Injuries in South Carolina
More traffic circles are being built in South Carolina and figures from the state Department of Transportation show they help reduce the number of accidents and injuries at intersections. The Independent Mail of Anderson reports that 15 traffic circles have …
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Florida Insurer Launches Company Offering Admitted, Standalone Flood Coverage
A Florida-based homeowners insurer has beefed up its flood insurance offering with the launch of a new flood-coverage only company called TypTap. The new company, a wholly owned subsidiary of Homeowners Choice Property & Casualty Insurance (HCI), one of the …
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Trump and Clinton win big in Arizona
US presidential front-runners, Democrat Hillary Clinton and Republican Donald Trump, have won the Arizona primaries, US media project.
Trudeau: More spending to lift economy
Canadian Prime Minster Justin Trudeau's Liberal government delivers its first budget, hoping to spur the fragile economy with government spending.
US air strike 'kills Yemen militants'
A US air strike kills dozens of fighters from al-Qaeda in the Arabian Peninsula (AQAP) in a mountainous region of Yemen, the Pentagon said.
VIDEO: Cubans hear of Obama's 'hand of friendship'
On the last day of his historic visit to Cuba, President Barack Obama has urged Cubans to look to the future with hope.
Trump struggles to win over Mormons
Presidential candidate Donald Trump has won over large blocs of religious voters, but one group of faithful conservatives has resisted - Mormons.
California Workers’ Compensation Institute Elects 2016 Board
Susan Gordon, head of workers’ compensation underwriting at Zurich North America, was elected board chair of the California Workers’ Compensation Institute for 2016. Gordon was elected at CWCI’s 52nd annual meeting in Oakland. Gordon has been a member of the …
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CSAA Exec Named California Insurance Guarantee Association Chair
Jeff Huebner, vice president of treasury for CSAA Insurance Group, has been named chairman of the board of governors for the California Insurance Guarantee Association. Huebner joined CSAA Insurance Group in 2001 as manager of risk finance and captive operations, …
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Woodruff-Sawyer Taps Richards in Southern California
Woodruff-Sawyer & Co. has named Kyle Richards an associate producer in the Southern California office. Richards will develop new client relationships. His specialties include real estate, technology and manufacturing. Richards was an associate client executive at Marsh prior to Woodruff-Sawyer. …
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Digital Insurance Agency MassDrive Expands Online Platform to All States
MassDrive Insurance Group, a digital insurance agency and affinity marketing firm, has made its auto insurance comparison shopping service MyLifeProtected available nationally. MyLifeProtected uses a mobile-first, customer-centric focus and affinity distribution model. The company enables retailers, digital media companies, financial …
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New Hampshire, Maine Monitoring Struggling Health Insurance Co-Op
New Hampshire insurance regulators are working with their counterparts in Maine to monitor a financially struggling health insurance cooperative that serves both states. Community Health Options, based in Lewiston, Maine, was the only cooperative in the country to make money …
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WT Phelan Acquires Martini Agency in Massachusetts
WT Phelan & Co., an independent insurance agency based in Belmont, Massachusetts, announced that it has acquired Martini Insurance Agency in Woburn, Massachusetts. Terms of the transaction were not disclosed. Martini Insurance was founded in 1960 by John C. Martini, …
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35% of Arkansas Banks Closed in Past Decade
A lack of succession planning, the costs of fighting cyberattacks and competition with online mortgage companies that have no brick and mortar branches are some of the reasons the number of banks in Arkansas has fallen by 35 percent over …
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Navigating Change in Today’s Volatile Flood Insurance Market
If you are an insurance agent trying to survive in today’s competitive marketplace, you may have dipped your toes in the flood insurance waters, so to speak. If you have not, get ready to jump in, because there’s a “perfect …
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Appeals Court: Michigan Woman Can Collect Dead Ex-Husband’s Insurance
A woman can collect a $120,000 insurance windfall after the death of her former husband, despite their divorce years ago, the Michigan appeals court says. John “Jerry” Lett never removed Nancy Henson as the beneficiary before he died in 2014. …
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Finnorn Named VP, General Counsel at Amerisure
Amerisure Mutual Insurance Co., based in Farmington Hills, Mich., has appointed Joanne Finnorn as vice president and general counsel. Finnorn is responsible for all aspects of Amerisure’s Office of Legal Counsel, and is charged with oversight of corporate compliance with …
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Southeast Texas Floods Bring Federal Disaster Declaration
President Barack Obama has declared a major disaster in three Texas counties following severe storms including tornadoes and flooding earlier this month. The declaration covers Jasper, Newton and Orange counties in southeast Texas. It enables residents to received federal grants …
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Hail Damage in North Texas Could Cost $300M in Car Repairs
Hailstorms that rolled through the Fort Worth, Texas, area last week could result in $300 million in vehicle repairs. Mark Hanna, a spokesman for the Insurance Council of Texas, estimated that 50,000 vehicles were damaged by the morning storms on …
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Insurance Journal Survey for Young Agents: Speak Now!
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. The results will be …
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Obama invokes 'future of hope' for Cuba
In his keynote speech during his visit to Cuba, US President Barack Obama says it is time to bury the past and build a brighter future of US-Cuban relations.
Gawker, Publisher to Pay $25M in Punitive Damages in Hulk Hogan Lawsuit
A Florida jury awarded punitive damages totaling $25 million on Monday in a second blow to Gawker, coming on top of the $115 million the online news outlet must pay for posting a sex tape of the former professional wrestler …
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Insurance Society of Philadelphia Hires Zapalac as Director of Education
The Insurance Society of Philadelphia has hired Melodye Zapalac as director of Education. In her new role, Zapalac will be responsible for the Insurance Society of Philadelphia’s professional development and continued education programs. She will also lead the organization’s outreach …
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Former Toronto Mayor Rob Ford dies
Former Toronto mayor Rob Ford has died at 46 after fighting cancer, his family says.
Pi Chubb, 81, Former Chubb Vice Chairman, Dies
Percy Chubb, III, the former vice chairman of The Chubb Corp., has died at the age of 81. Pi Chubb, as he was known, was the great-grandson of Thomas Caldecot Chubb and grandson of Hendon Chubb, who founded Chubb & …
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L.A. Gives Nod to $30M Gang Injunction Suit Settlement
The city of Los Angeles has agreed to spend up to $30 million to settle a lawsuit that challenged widespread injunctions that restrict the movements of thousands of suspected gang members. The City Council voted to fund nonprofit organizations to …
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