Miami Woman Arrested Over Fraudulent Insurance Claims, Attempt to Steal $178K

A Florida homeowner was arrested for insurance fraud and grand theft following her attempt to file a damage claim against a new insurance policy after already receiving a $60,000 insurance payout from her former insurance provider for the same damages. …

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Victim Compensation for Emotional Suffering: How Much Is Right?

If a company sends one of its workers to a crime-ridden neighborhood to repair a leaking roof and the worker is held up by gunpoint, has his wallet stolen and is so terrified that he can’t return to work, how …

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Express Scripts Not Looking But Open to Deal with an Insurer, Amazon

Express Scripts Holding Co.’s chief executive said he’s open to a deal with a health insurer or partnering with Amazon.com Inc. CEO Tim Wentworth’s pharmacy benefits company has been battered by departing clients and the vague specter of Amazon’s entry …

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GM Plans Fleets of Autonomous Robo-Taxis by 2019

General Motors Co. laid out its vision for self-driving vehicles on Thursday, telling investors it planned a commercial launch of fleets of fully autonomous robo-taxis in multiple dense urban environments in 2019, in a challenge to rivals such as Alphabet …

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How Payment Policies of Insurers, Government Discourage Opioid Alternatives

For the drug industry, building a better pain pill is a problem. Pharmaceutical companies have introduced new medicines to treat dependence, reverse overdoses, and deal with opioids’ side effects. But few effective and economically viable alternatives to addictive painkillers have …

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Woman Staying in Hotel During Tennessee Wildfires Claims PTSD in Lawsuit

A Tennessee woman who checked in to a hotel as deadly wildfires raged nearby says in a lawsuit that she was terrified she would die in the hotel and is suffering from post-traumatic stress disorder because of the experience. Holly …

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Miner Dies on Blackhawk Mining Property in West Virginia

West Virginia mining officials say that a 28-year-old equipment operator for a coal mining company has died. The Office of Miners’ Health, Safety and Training says the incident occurred about 3 p.m. Tuesday on property owned by Blackhawk Mining in …

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DEA Opens Kentucky Field Office to Target Opioid Abuse

The U.S. Drug Enforcement Agency is targeting opioid abuse in Appalachia by establishing a new field office in Kentucky to oversee a region ravaged by overdose deaths. The new Louisville field office will have a special agent in charge to …

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Texas Company Agrees to Pay $545.1K Penalty Following Worker Fatality

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) and Marshall Pottery Inc. in Marshall, Texas, have reached a settlement agreement including a penalty of $545,160, after the death of an assistant plant manager. The federal agency reported …

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Keystone Pipeline Leak Likely Caused by 2008 Construction Damage: Report

A federal agency says a leak in TransCanada Corp.’s Keystone oil pipeline in South Dakota likely was caused by damage during construction in 2008. The Pipeline and Hazardous Materials Safety Administration issued a corrective action report Tuesday on the estimated …

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Liberty Mutual Insurance Opens New Campus in North Texas

Liberty Mutual Insurance Chairman and CEO David H. Long officially opened the company’s one million square foot office complex in Plano, Texas, on Tuesday with a ribbon-cutting ceremony attended by Texas Governor Greg Abbott and City of Plano Mayor Harry …

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Officials Report Third Case of Legionnaires at Illinois Veterans Home

A third person has contracted Legionnaires’ disease at a western Illinois veterans home where two other cases were identified last month, state officials said. The Illinois Department of Veterans’ Affairs and Illinois Department of Public Health on Tuesday reported the …

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$300K Fire in Cincinnati Caused by Teen Trying to Kill Bed Bug

Officials in Ohio say a 13-year-old boy trying to kill a bed bug sparked an apartment building fire that displaced eight people and caused $300,000 in damage in Cincinnati. Officials say the fire was reported around 11 p.m. Tuesday and …

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Ex-Ohio State Star Spielman Widens Lawsuit over Commercial Use of Image

A former Ohio State and NFL star is asking a judge to let him expand a class-action lawsuit over allegations that marketing campaigns for dozens of big-time colleges and universities improperly used the images of thousands of current and former …

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Judge Limits Key Testimony in Armstrong Lawsuit

A federal judge has set some limits on key evidence and testimony in Lance Armstrong’s upcoming $100 million civil trial, including harm inflicted on former team sponsor U.S. Postal Service and whether the government should have known the cyclist and …

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Ironshore’s Boren, President of U.S. Field Operations, Retiring; Frediani to Succeed Him

Ironshore Inc. announced that industry veteran Joseph L. Boren, president of U.S. Field Operations and a noted environmental risk expert, will retire as of year-end 2017. Boren’s role as president of U.S. Field Operations will be assumed by David R. …

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Beazley Establishes Marine Insurance Platform In U.S.

B eazley has established its new U.S. marine platform with an initial focus on hull, protection & indemnity (P&I) and liability coverage for the marine and marine constructionmarine platform sectors. Beazley has been an insurer of marine risks in the …

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San Francisco Supervisors OK Rules for Recreational Pot Stores

Following weeks of emotional and detailed debate over where to allow new stores, San Francisco supervisors approved regulations for the sale of recreational marijuana when it becomes legal in California in January. The San Francisco Board of Supervisors voted for …

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Burns & Wilcox Opens Office in Downtown Los Angeles

Burns & Wilcox has opened an office in downtown Los Angeles. The office, located at 515 S. Flower St, is the second location in the greater Los Angeles area and seventh major location for Burns & Wilcox in California outside …

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GM Autonomous Car’s Jaunt Through San Francisco Streets Halted by Taco Truck

A self-driving General Motors Co. Bolt slowly drove more than two miles through crowded San Francisco streets in its media debut on Tuesday, but double-parked cars and orange traffic cones tripped up the computer driver, and a taco truck stumped …

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Who Is Most at Risk for Opioid Death and How to Help Them: Columbia University Research

Just over 60 percent of individuals who died from an opioid overdose had been diagnosed with a chronic pain condition, and many had been diagnosed with a psychiatric disorder, a study of more than 13,000 overdose deaths has found. Only …

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Insurers’ Asbestos Payments in 2016 Topped $3 Billion

While U.S. asbestos-related incurred losses dropped in 2016, property/casualty insurers’ payments for asbestos claims grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2 billion figure exceeds the long-term average of $2.4 …

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Aon Switzerland to Buy Swiss Broker Unidelta AG

Aon plc will acquire 100 percent interest in Unidelta AG, an insurance broker located in Rapperswil, St. Gallen, Switzerland. Unidelta AG was founded in 2004, and is an independent all-line insurance broker with a strong focus on personal injury management. …

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Chubb Expects $320 Million in Q4 Catastrophe Losses Including California Wildfires

Chubb Limited reported a preliminary loss estimate for the fourth quarter from natural catastrophes, including the California wildfires, of approximately $320 million pre-tax, or $249 million after tax. Chubb said its insured losses for the California wildfires are currently estimated …

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Virginia’s Towne Insurance Hires Rogerson to Manage Select Business Unit

Towne Insurance, an independent insurance agency headquartered in Hampton Roads in Virginia, has hired Christopher Rogerson as vice president and manager of its Select Business Unit. He will be responsible for further development of Towne’s Select Business Unit strategy, as …

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Cargill Accountant in New York Sentenced to Five Years for $3.1M Theft

An accountant who admitted to stealing $3.1 million from agribusiness giant Cargill, Inc. has been sentenced to five years in prison. Diane Backis was sentenced Tuesday in federal court in Albany to mail fraud and filing a false income tax …

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New York Logging Company Owner Sentenced to Prison for $83K Theft

The former owner of an upstate New York logging company who stole more than $80,000 in workers’ compensation benefits has been sentenced to up to three years in prison. Fifty-six-year-old David Sigl, of Auburn, N.Y., was sentenced Tuesday in Cayuga …

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Willis Towers Watson Launches Updated Capital Modeling Platform, Igloo 5

Willis Towers Watson has launched Igloo 5, an update to its financial modeling platform. The broker said Igloo 5 brings a number of key improvements including: Greatly improved model runtime Ready for use-based licensing and full implementation in the cloud …

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UK’s Aviva Plans to Return $4B of Extra Cash to Shareholders, Make Acquisitions

Aviva expects to generate an extra 3 billion pounds ($4 billion) in cash over the next two years and will make acquisitions as well as giving money back to shareholders, it said on Thursday, sending its share price to three-month …

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Global Banks Face ‘Significant Evolution’ in Cyber Threat Level: SWIFT

Global banks need to do more to protect themselves from cyber attacks after a “significant evolution” in the threat level in the last 18 months, according to the SWIFT global payments network. Hackers are deploying increasingly sophisticated ways of breaching …

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Uber’s UK Data Breach Exposed Accounts of 2.7M Customers in 2016

Uber Technologies Inc. said information from 2.7 million U.K. customers was taken in a 2016 security breach that hit 57 million riders and drivers globally and that the company kept secret from the public and authorities until recently. Uber said …

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Lawyer Pleads Guilty to Trying to Sell Sealed Whistleblower Lawsuits

A former partner at a major law firm in Washington pleaded guilty on Wednesday to charges that he tried to sell copies of sealed whistleblower lawsuits against corporations that he obtained while working at the U.S. Justice Department. Jeffrey Wertkin, …

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Index Shows Where People Are Moving in Next Few Months

It’s possible to know where in the country more homebuyers will be moving over the next 30 to 90 days, thanks to what’s called a “pre-mover” index. It turns out that the U.S. markets with the highest “pre-mover” indices during …

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China Oceanside’s Acquisition of Genworth Again Delayed by U.S. Review

The closing deadline for China Oceanwide Holdings Group Co.’s proposed purchase of Genworth Financial Inc .has been extended for a second time, to April 1, to allow them to satisfy a U.S. review on foreign takeovers, they said on Wednesday. …

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Mining Jobs to Focus on Community Relations as Robots and Sensors Take Over

Some mines in the next decade will run without humans and instead rely on robots, virtual models and sensors, according to Anglo American Plc. Anglo is betting on technology, such as computerized drills with “chiseling ability as good as a …

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North Carolina Detects GenX in 34 Additional Wells

North Carolina officials say tests have detected elevated levels of an unregulated compound at 34 additional wells near a chemical company’s manufacturing facility. The Fayetteville Observer reports the results announced Monday bring the total number of wells contaminated by the …

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Ex-Coal Boss Blankenship Announces U.S. Senate Run From West Virginia

Donald Blankenship, the former Massey Energy chief executive who went to prison in the wake of a 2010 mine explosion that killed 29, plans to run for the U.S. Senate from West Virginia. Blankenship is filing election papers to run …

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Florida’s Hurricane Irma Recovery: The Cost, The Challenges, The Lessons

The hurricane season is officially over, but it didn’t go by without leaving a major mark on Florida and its insurance industry. Hurricane Irma, a name most in the state won’t soon forget, first hit the Florida Keys as a …

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New Sensors Tracking Earthquakes Across Texas

Note: This article originally appeared in The Texas Tribune. Three years ago, a series of quakes rattled North Texas — and some residents’ nerves. Larry Walden, a Parker County commissioner, remembers a public meeting at the time in which residents …

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Texas’ Hochheim Prairie Farm Mutual Ratings on CreditWatch; Harvey Cited

S&P Global Ratings has placed its ‘B+’ financial strength ratings for Hochheim Prairie Farm Mutual Insurance Assoc. (HPFMIA) and its subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC; collectively Hochheim) on CreditWatch with negative implications. Hochheim, headquartered in Yoakum, Texas, only …

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Safety National Awards 3 Safety First Grants

St. Louis, Missouri-based insurer, Safety National, has awarded its annual Safety First Grant to three policyholders for their creative risk control solutions. The first-place grant, in the amount of $10,000, was awarded to Alliance of Schools for Cooperative Insurance Programs …

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Munich Re’s Ergo Decides Not to Sell Run-Off Life Policies as Offers Too Low

Munich Re’s ERGO unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low. “In ERGO’s view, the current value of the portfolios and its potential appreciation is not adequately reflected …

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Michigan, Enbridge Reach Deal to Boost Pipeline Safety

Michigan Gov. Rick Snyder and Canadian oil transport company Enbridge Inc. announced a timeline Monday for determining the future of twin pipelines beneath the channel where Lakes Huron and Michigan converge. Options include shutting down the lines or routing them …

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Plant Death Leads to $224K in Fines for Indiana Company

State regulators have fined a southern Indiana auto parts plant $224,000 for alleged safety violations discovered following a worker’s death. The Indiana Occupational Safety and Health Administration issued the order Nov. 15 against Autoneum North America Inc. The Swiss-based company …

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Wildfire Risk High Remains in Arkansas

State forestry officials say the risk for wildfires remains high throughout Arkansas as dry conditions persist. The Arkansas Forestry Commission says firefighters have suppressed more than 100 wildfires since Thanksgiving. Those fires have burned a total of more than 1,800 …

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Lincoln, Nebraska, Studying Uses for Driverless Vehicles

The city of Lincoln has signed a nearly $100,000 contract with an engineering consultant to study how the city could one day implement driverless vehicles. HDR Inc.’s study will examine the latest technology, describe a potential pilot project, provide business …

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Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far

The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three storms. Lloyd’s brokers are receiving money from …

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Safety Concerns Remain at New Mexico Nuclear Waste Storage Site

A federal nuclear review panel still has some safety concerns about Los Alamos National Laboratory’s new multimillion-dollar storage facility for radioactive waste. The Defense Nuclear Facilities Safety Board said in a recent report that more reviews will be needed as …

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Former Washington Insurance Agent Jailed in $233K Workers’ Comp Scam

A Lake Stevens, Wash. man who ran an insurance agency while claiming he was too disabled to work must serve jail time. The Washington state Department of Labor and Industries says 53-year-old James Kooy was sentenced Monday to 60 days …

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Earthquake Center Confirms Moderate Temblor Felt in Alaska Towns

The Alaska Earthquake Information Center confirmed that a moderate earthquake jostled Alaska’s largest city, but there were no immediate reports of damage. The magnitude 5.3 earthquake hit Monday and was located at a depth of about 10 miles and centered …

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Terminix Fined $9.2M for Pesticide Use that Poisoned Delaware Family

A pest control company will pay more than $9 million in criminal fines tied to the use of a banned pesticide that sickened a Delaware family on vacation in the U.S. Virgin Islands in 2015. The News Journal of Wilmington …

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Meetings Planned in Connecticut Districts on October Storm Response

Connecticut lawmakers are planning public meetings in legislative districts to hear firsthand how communities were impacted by last month’s damaging windstorm that left more than 100,000 residents without power for multiple days. The General Assembly’s Energy and Technology Committee originally …

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100 Passengers Rescued from New York Ferry that Ran Aground Near Pier

More than 100 passengers have been rescued from a ferry that ran aground in New York’s East River. Police say it happened Monday evening just off a pier near the South Street Seaport in lower Manhattan. The U.S. Coast Guard …

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Manus Elected as President, Chief Brokerage Officer at Holborn in NYC

Holborn Corporation (Holborn), a U.S.-based independent reinsurance broker, announced that its board has elected Adam Manus as president and chief brokerage officer, effective immediately. Manus is based in the firm’s office in New York City. Frank Harrison will continue in …

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Most Americans with High Deductible Health Plans Don’t Shop or Save: Study

More and more Americans have health insurance that requires them to open their wallets for the first few thousand dollars’ worth of care they receive every year, before the insurance coverage kicks in. But a new study suggests that despite …

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Researchers Find Drones Can Cause Significant Damage to Aircraft

The millions of small civilian drones plying the nation’s skies can cause significant damage to airliners and business jets in a midair collision, new research commissioned by the U.S. Federal Aviation Administration concluded. While most drones weigh only a few …

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Hurricane Season Is Coming to a Close… Maybe

In 166 years, only 17 tropical storms and six hurricanes have formed in the Atlantic after the official Nov. 30 close of the season, according to the U.S. Hurricane Research Division in Miami. Could it happen again? Conditions across the …

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Chinese Startup Develops ‘Taxi Drone’ with Plans for 2018 Rollout

A Chinese startup has developed a flying car that it plans to roll out as soon as next year. EHang Inc.’s E-184 drone can carry one passenger in its small cockpit, but the firm says it’s working on a model …

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India’s Paytm Aims to Create World’s Largest Digital Bank; Insurance to Be Offered

Paytm Payments Bank aims to create the world’s largest digital bank with 500 million accounts, envisioning an online financial services provider of everything from wealth management to credit cards and stock market trading. The bank, backed by [India’s] largest digital …

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Markel Completes Acquisition of UK Building Services Insurer EC Insurance Co. (ECIC)

Markel International, the specialist insurer, has completed its acquisition of EC Insurance Co. Ltd., having received approval from the Prudential Regulation Authority. Sevenoaks, England-based ECIC provides a wide range of insurance products for contractors and affinity groups across the UK …

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Starr Cos. Forms Canadian A&H Division, with Claughton & Hughes at Helm

Starr Cos. has launched an Accident & Health Division, based in Toronto, Canada. A&H coverages provided include business travel accident; group basic and voluntary accidental death & dismemberment; critical illness; and emergency out-of-province medical. “Starr continues to expand its capabilities …

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Worldwide Facilities to Offer CBIC Design Professionals Program

Worldwide Facilities has been appointed by CBIC, an RLI Company, to offer its insurance program for design professionals. The program’s target classes include architectural firms, landscape architects, civil and structural engineers, surveyors, and interior designers. Construction and project management consultants …

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Hurricane Matthew Victims in 2 North Carolina Counties Now Eligible for Grants

Residents of two of the North Carolina counties hardest hit by Hurricane Matthew can now schedule an appointment to apply for reimbursement of their losses. The Fayetteville Observer reports state Department of Emergency Management Director Mike Sprayberry says Cumberland and …

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Lawsuits Claims Florida is Ignoring Medical Marijuana Law

A Florida nursery and a man who suffers from epilepsy filed a lawsuit against Gov. Rick Scott’s administration that contends that state officials are flouting the state’s new medical marijuana law. It’s the latest legal challenge against the way Florida …

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Patriot National to Reorganize for Acquiring Lenders; Subsidiaries to File Chapter 11

Patriot National Inc., which provides technology, outsourcing and underwriting services to the insurance industry, has announced a plan of reorganization as part of a restructuring support agreement (RSA) with its lenders, Cerberus Business Finance, LLC and its affiliates, and TCW …

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Wells Fargo Closing Down Its Personal Insurance Business

Wells Fargo & Co. announced it is exiting the personal insurance business and will immediately begin winding down its marketing. The company said the exit process should be completed during the first quarter of 2018. Until that time, it will …

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Insurance Industry Increases Spending With California Diverse Suppliers By $670M

California Insurance Commissioner Dave Jones announced at the 6th Annual Insurance Diversity Summit this week that California diverse businesses supplied $1.6 billion in goods and services to insurance companies last year. That’s a $670 million increase since 2012, according to …

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State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy

Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31, 2021. LaRocco has been …

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Bedrock Insurance Group Holdings to Acquire Ashmere Insurance Co. of Florida

Bedrock Insurance Group Holdings LLC (BIGH), based in New York, has entered into a definitive agreement to acquire Deerfield Insurance Holdings, Inc. and its operating subsidiary Ashmere Insurance Company (AIC), a workers’ compensation specialty insurance company. Based in Fort Lauderdale, …

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SageSure Insurance Managers Names Morrow Regional VP in Ohio

Independent residential property managing general underwriter SageSure Insurance Managers, a subsidiary of Insight Catastrophe Group (ICG), has appointed Suzanne Morrow as regional vice president of Sales for the company’s western region. Based in Cincinnati, Ohio, Morrow will lead the sales …

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Baylor University Honors The Nitsche Group with Community Commitment Award

Independent insurance agency, The Nitsche Group, based in Giddings, Texas, has been presented the 2017 Community Commitment Award by Baylor University’s Institute for Family Business. This distinction is awarded by Baylor University to a successful family business that demonstrates a …

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Day Laborers Being Exploited in Texas after Harvey, Advocates Say

Guillermo Miranda Vazquez starts his day in a parking lot near the Home Depot where he easily finds work alongside other day laborers who are cleaning up Houston after Hurricane Harvey. Some days, he clears rotted drywall and hauls out …

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ONI Risk Partners Acquires Indiana’s HBG Insurance & Bonds

Indianapolis-based independent insurance broker, ONI Risk Partners (ONI), is acquiring HBG Insurance & Bonds (HBG), a privately owned agency based in Greencastle, Indiana. Led by President Rick Bittles, the HBG team joins ONI’s 300-plus insurance professionals serving business and individual …

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Personal Insurance Startup Berkley One Launches in Illinois

Berkley One, a startup insurance provider of personal insurance, has launched in Illinois, the first state of a planned national state-by-state rollout. Working with a select group of independent agents, Berkley One offers home, automobile, fine art and collectibles, and …

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Oklahoma Sees Increase in Number of Volunteer Firefighters

Almost 200 new volunteer firefighters have joined rural fire departments in Oklahoma two years after successful legislation eliminated the age limit for new volunteers, according to state lawmakers. House Bill 2005, authored by Rep. Mike Sanders and Sen. AJ Griffin, …

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Guy Carpenter Chairman Newhouse to Retire at Year End

Guy Carpenter Chairman Britt Newhouse is retiring at the end of 2017, a company spokesperson has confirmed. Newhouse has been chairman of the reinsurance broker/strategic advisory firm as part of leadership changes at the unit in 2008. Newhouse joined Guy …

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Las Vegas ZIP Code Has Most Drone Hobbyists in Nation

Researchers say the ZIP code containing the highest number of registered hobbyist drone users in the country is in Las Vegas. The Las Vegas Review-Journal reported drone researchers at Bard College in New York analyzed data from the Federal Aviation …

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Brexit Transition Period, Insurance Deal Vital for UK Economy: Bank of England

British banks may have unanimously passed Bank of England stress tests, but that clean bill of health came with concern about a messy Brexit, courtesy of Governor Mark Carney. The central bank told lenders to add another 6 billion pounds …

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Tribal First Acquires American Indian Health Services in Washington

Tribal First, a division of Alliant Specialty Insurance Services Inc., has acquired American Indian Health Services. Brendan McKenna, president of AIHS, and his team will join Alliant and continue to serve clients from its Sammamish, Wash. location. Terms of the …

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Marsh’s Combined Jelf and Bluefin Businesses in UK to Be Rebranded as ‘Jelf’

Marsh announced that its combined Jelf and Bluefin business in the UK will, from early 2018, begin rebranding as Jelf. With almost 3,000 colleagues serving over 250,000 clients from 80 locations, the new Jelf will be one of the UK’s …

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Gallagher Names Anderson to Lead Rossborough Insurance in Channel Islands

Gallagher announced the appointment of James Anderson as group managing director of Rossborough Insurance – its personal and commercial lines broking business based in the Channel Islands and Isle of Man – subject to regulatory approval. Anderson succeeds Clive de …

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Unlicensed Massachusetts Contractor Pleads Guilty to Dozens of Charges

An unlicensed home improvement contractor who left an elderly woman’s home in ruins has pleaded guilty. The Salem News reports that 49-year-old Jaime Ford’s guilty pleas Monday to 42 charges including larceny, forgery, insurance fraud, and being a common and …

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Insurer Says Troubled Vermont Town Must Comply with Conditions

A Vermont organization that serves the state’s municipal governments says the town of Victory must comply with certain conditions of probation or lose its insurance. The Caledonian Record reports that the conditions were made public this past week. The Vermont …

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Puerto Rico Agrees FEMA to Approve How Disaster Aid Is Spent

Puerto Rico Governor Ricardo Rossello said the island has agreed to give the Federal Emergency Management Agency unprecedented power to oversee disaster-relief spending, a step that may mollify Congress as the territory seeks billions to recover from Hurricane Maria. Rossello, …

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Maritime Program Group Hires Roper to New Hampshire Office

Maritime Program Group Inc. (MPG) of Westbrook, Conn., has hired Matthew Roper as manager of its Commercial Recreational Marine program. In this role, Roper assumes responsibility for the growth, development and profitability of MPG’s core recreational marine portfolio. He is …

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Trump Disaster Aid Includes $12B for Cities Battling Climate Change Flooding

Hidden in the Trump administration’s $44 billion emergency budget request is a plan to expand an Obama-era effort to make cities and towns resilient to the more frequent storms tied to climate change. While President Donald Trump has dismissed global …

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Heritage to Acquire Rhode Island’s Narragansett Bay Insurance

Heritage Insurance Holdings Inc. (Heritage), a Clearwater, Fla.-headquartered property and casualty insurance holding company, has secured regulatory approval from the Insurance Division of the Rhode Island Department of Business Regulation to proceed with its acquisition of NBIC Holdings Inc. NBIC …

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2017 Hurricane Season Ranks as Costliest Ever for U.S.

This year’s U.S. Atlantic hurricane season is officially the most expensive ever, racking up $202.6 billion in damages since the formal start on June 1. The costs tallied by disaster modelers Chuck Watson and Mark Johnson surpass anything they’ve seen …

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Pool Re to Include Physical Damage from Cyber Terrorism, Effective April 2018

Pool Re, the UK’s terrorism reinsurance pool, announced it will extend its cover to include material damage and direct business interruption caused by acts of terrorism using a cyber trigger. The new cover will be available as of April 2018. …

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Millions of Devices in Europe Remain Undefended Against Cyber Attacks: Report

A year after a wave of denial-of-service attacks knocked out major websites around the world, millions of unsecured printers, network gear and webcams remain undefended against attack across major European cities, a report published on Tuesday said. Computer security company …

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Brit Appoints Brock as President of Newly Formed Scion Underwriting Managers

Brit Ltd. announced that insurance industry veteran, Scott Brock, has joined as president of newly formed specialty platform Scion Underwriting Managers. In this role, Brock will be responsible for building and managing the operations of Scion, which will partner with …

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Supreme Court Conservative Justices Raise Doubts About U.S. Patent Review Process

U.S. Supreme Court justices on Monday appeared divided over whether a federal agency’s in-house process for challenging patents violates the constitutional rights of patent owners, leaving the fate of a system that has led to a high rate of patent …

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Florida Department of Financial Services Names Alexopoulos Farrar Communications Director

Anna Alexopoulos Farrar will join the Department of Financial Services (DFS) as Communications Director, according to a statement by Chief Financial Officer Jimmy Patronis. In this capacity, she will oversee the communications strategy for the department. Alexopoulos Farrar has more …

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$4M West Virginia Diesel Spill Settlement Gets Preliminary Approval

A judge has given preliminary approval to a $4 million class action settlement over a January 2015 tanker truck diesel fuel spill in southern West Virginia that briefly shut down tap water supplies for about 12,000 people. According to The …

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Lawsuits Filed Over West Virginia Warehouse Fire

Three lawsuits seeking damages following the industrial warehouse fire that burned for a week in Parkersburg have been moved from state to federal court. The Charleston Gazette-Mail reports that the defendants sought the transfer from Wood County Circuit Court because …

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Woodruff-Sawyer Names Williams Southern California Practice Leader

Woodruff-Sawyer & Co. has named Brendan Williams its Southern California practice leader. Williams will be assuming leadership of the Southern California region in early 2018 upon the retirement of Ron Packouz, founder and current practice leader in the region. He …

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Neon Names Heppell from MS Amlin as CFO

Neon has announced the appointment of Richard Heppell as chief financial officer, effective Nov. 20. Most recently CFO at MS Amlin, Heppell oversaw the complex integration of the Amlin and Mitsui Sumitomo Insurance Lloyd’s syndicates, having previously been finance director …

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Texas Officials: At Least 1 Traffic Death per Day Since 2000

At least one person has died on Texas roadways every day since November 2000, state traffic safety officials say. The Texas Department of Transportation said that since Nov. 7, 2000, fatalities resulting from motor vehicle crashes on Texas roadways have …

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Chubb Forms Partnership with China’s Largest Insurer, PICC

Giant insurer Chubb Limited has entered into a 10-year strategic cooperation agreement with PICC Property & Casualty Company of China that will provide PICC’s customers and other Chinese-affiliated companies around the world access to Chubb’s global capabilities. As part of …

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UK, Ireland’s Storm Ophelia to Cost Insurers an Estimated $70.1M: PERILS

Insurance losses for Storm Ophelia, which hit Ireland and the United Kingdom on Oct. 16-17, are estimated at €60 million (US$70.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The majority of the damage …

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Additional Runway Incidents at San Francisco Airport Under Investigation

U.S. officials are investigating two more incidents at San Francisco International Airport where planes could have wound up on the same runway, the National Transportation Safety Board said . The incidents include an event in December 2016 when a SkyWest …

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$8M Suit Filed by Oregon Couple After Death of Daughter in Hot Apartment

An Oregon couple has filed an $8 million lawsuit against their apartment company, claiming their 2-year-old daughter died because a heater in their unit raised the temperature in her room to a lethal level. Portland attorney Jane Paulson, who’s representing …

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Utah Seeing Increase in Drug-Related Deadly Crashes, Report Shows

The number of fatal car crashes linked to drivers on drugs has spiked in the last two years in Utah while alcohol-related fatal wrecks have declined slightly, state figures show. The state Legislature’s annual report on driving under the influence …

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How to Help Clients Protect Payment Processing Systems

The holidays are coming, bringing heightened anticipation. Families look forward to time together, children can’t wait for presents, merchants envision boosted sales and criminals dream of a wealth of unprotected data just waiting to be hacked. Retailers are especially susceptible …

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Supreme Court to Hear Whistleblower Retaliation Case

The Supreme Court is set to hear on Nov. 28 a case that could determine whether corporate whistleblowers have the same job protections against retaliation when they report concerns about their employers’ misconduct only to their employers as they do …

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Virginia’s Elephant Insurance Names Schiavon as CEO

Elephant Insurance, the Henrico-based, direct-to consumer insurance specialist, has announced Alberto Schiavon as its new CEO. Founded in 2009, Elephant is a direct-to-consumer insurance company offering auto, home, motorcycle and life products to customers nationally. Headquartered in Richmond, Va., it …

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Hub International Acquires the Assets of Massachusetts’ Summit

Global insurance brokerage Hub International Limited (Hub) has acquired the assets of Summit Financial Corporation and Summit Financial Insurance Agency Inc. (Summit). Terms of the acquisition were not disclosed. Headquartered in Burlington, Mass., Summit provides plan design, consulting, actuarial, administration …

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Massachusetts SJC Issues Decision in Auto Insurance Dispute

The Supreme Judicial Court in Massachusetts (SJC) has answered a question regarding the priority of coverage for two automobile insurance policies covering a single motor vehicle accident. In its ruling, the SJC decided both excess policies cover the accident equally …

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Ascot Group Launches Bermuda Reinsurer; Berger Appointed CEO

Ascot Group Ltd. has launched Ascot Reinsurance Co. Ltd., after receiving approval from the Bermuda Monetary Authority (BMA). Ascot Re has received an additional injection of $1 billion of funds and has been given an “A” rating by A.M. Best, …

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UK Financial Services Industry Pays Record Taxes, ‘Underlining Need’ for Brexit Deal

Britain’s financial services industry paid a record 72.1 billion pounds ($96.2 billion) in tax during the past fiscal year, PwC said in a report that piles pressure on the government to secure favorable trading terms for banks after Brexit. Tax …

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Tourists Stranded, Evacuations Ordered as Bali Volcano’s Eruption Expected

Indonesia raised its warning for Bali’s Mount Agung volcano to the top level four alert on Monday, closed the holiday island’s airport and told residents around the mountain to immediately evacuate, warning of an “imminent” risk of a larger eruption. …

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Zurich Insurance Plans to Double Allocation to Impact Investments, Earmarking $5B

Zurich Insurance Group AG plans to more than double its allocation to impact investments, earmarking $5 billion for a broader range of assets after devoting $2 billion to green bonds in recent years. While it didn’t specify a period, Zurich …

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How Much Harm Did Harvey Do to Texas Homes?

Note: This story originally appeared in The Texas Tribune. As the state undertakes what could be the biggest housing recovery in American history after Hurricane Harvey, potentially thousands of Texas renters and homeowners trying to rebuild their lives are in …

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Houston Arts Groups Working to Recover from Hurricane Harvey

Houston Ballet artistic director Stanton Welch looked flushed as he stood at the edge of the Hobby Center’s Sarofim Hall stage during a break in the company’s annual Jubilee of Dance performance. The Houston Chronicle reports his military-style jacket seemed …

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Report: Opioid Deaths in Missouri May Top Traffic Fatalities

Deaths from opioid overdose could exceed traffic fatalities in Missouri this year, for the first time ever. The Columbia Daily Tribune reports that the Missouri Department of Health and Senior Services has recorded 733 opioid overdose deaths through Aug. 31, …

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Florida Keys Insurance Agent Accused of Defrauding Citizens Insurance

A Florida insurance agent has been arrested after allegedly submitting a fraudulent insurance policy to Citizens Property Insurance Corp., according to a statement from Florida CFO Jimmy Patronis and the Florida Department of Financial Services (DFS). Richard Joseph Girard, a …

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Workers’ Compensation Still Under Pressure from Drug Repackagers, Compounding Pharmacies

Though the number of physician dispensed prescriptions has declined considerably from just a few years ago, the workers’ compensation industry continues to battle a market seeking to maintain high prices by changing drug strength and formulations. The impact of physician …

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Slew of Republican Judicial Appointments Could Bode Well for D&O Insurers

Directors and officers (D&O) insurance has faced major losses in recent years, due in part, to what some call a significant increase in shareholder securities class action lawsuits. But a slew of new judicial appointments through the Republican-led Congress could …

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Trump Wants NAFTA to Limit Liability of Internet Firms Including Google, Facebook

The Trump administration is pushing to add legal protections in the North American Free Trade Agreement (NAFTA) that would limit the liability of internet giants such as Google and Facebook, marking the latest in a tug-of-war as policy makers balance …

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120 Evacuated After Roof Collapse at Florida Apartment Building

Officials say about 120 people were evacuated after strong storms caused an apartment roof to collapse in Florida. The Daytona Beach News-Journal reports that The Overlook at Daytona Apartment Homes was evacuated early Friday morning. Officials say water flowed onto …

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Insurer Says Policy Doesn’t Cover Collapse of Mississippi Building

An insurer says it shouldn’t have to pay for the collapse of a building in a southwest Mississippi city. Hudson Specialty Insurance has sued in federal court in Natchez to nullify its policy, saying the policy was voided after the …

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Explosion at North Carolina Wastewater Treatment Plant Kills 1

Police in a North Carolina town says one person is dead after a plant explosion. Authorities in Nash County told local media outlets that a fire tank exploded at Pennco, Inc., on U.S. Highway 264 in Middlesex at around 9:30 …

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Number of Road Construction Work Zone Deaths High in Iowa

Iowa officials say a surge in construction projects and an increase in miles driven by motorists have led to a high number of people dying in road construction work zone crashes this year. Ten people have died in work zone …

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Victims of Michigan Cancer Doctor Could Receive $4.1M

An expert is recommending approval of $4.1 million in claims, including $2 million in funeral costs, filed by victims of a Detroit-area doctor who committed fraud by putting hundreds of patients through needless cancer treatments. Randi Roth gave an update …

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Oklahoma Woman Awarded $1M in Transgender Discrimination Lawsuit

A federal jury has awarded a transgender woman more than $1 million after finding Southeastern Oklahoma State University discriminated against her and wrongfully denied her tenure. The Oklahoman newspaper reports jurors sided with former English professor Rachel Tudor on Monday. …

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Best Agencies to Work For Midwest: R&R Insurance Agency — Bronze

Investing in Growth and Community, Sharing Success From leadership style, to growth in a sluggish economy, to profit sharing, to career opportunities, to doing the right thing for customers, and more, employees of R&R Insurance Services in Waukesha, Wisconsin, say …

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Best Agencies to Work For South Central: Garrett Insurance Agency – Bronze

A Century Young and Still Going Strong A family-owned insurance agency doesn’t make it to 100 years and counting without doing a lot of things right, and the fact that Garrett Insurance Agency (GIA) in Kerrville, Texas, celebrates a century …

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Some Businesses in Dickinson, Texas, Still Recovering from Harvey

Some Dickinson business owners are getting back on their feet — or trying — after flooding from Hurricane Harvey swamped more than 80 shops, restaurants and offices. The Galveston County Daily News reports Keith Lilley, owner of two popular Dickinson …

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NTSB Cites Broken Rail in 2015 Derailment in South Dakota; BNSF Says Changes Made

The National Transportation Safety Board has determined a broken rail probably caused the derailment of a train carrying ethanol two years ago in South Dakota. The NTSB report says BNSF Railway’s decision to defer track maintenance and operate trains carrying …

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Wisconsin Corn Milling Plant Fined over $1.8M After Fatal Grain Dust Explosion

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has proposed $1,837,861 in fines against Didion Milling Inc. in Cambria, Wisconsin, following a May 31, 2017, explosion that killed five workers and injured 12 others, including a 21-year-old …

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Commercial Insurance Rate Decreases Slowing Globally: Marsh

Average global insurance rates decreased for the 18th consecutive quarter, although the rate of decline slowed in the third quarter (down 1.6 percent) as compared to the prior quarter (down 2.2 percent), according to broker Marsh’s Global Insurance Market Index …

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Insurance Journal Seeks Industry Charity Stories for 2017

Insurance Journal’s Charity Issue will highlight some of the many charitable tales in insurance. Share your firm’s story on how you support the community. Enter your photos and a brief description of the event here. Deadline for inclusion is December …

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California Policyholders Have 24 Months to Collect Wildfire Insurance Money

California’s insurance commissioner says homeowners who lost their homes in last month’s wildfires in Northern California have up to 24 months to collect insurance payments. Dave Jones said this week some out-of-state insurance adjusters brought in by companies to help …

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Another Settlement Reached in Berkeley Balcony Collapse Lawsuit

Another lawsuit settlement has been reached over a 2015 balcony collapse in Berkeley, Calif. that killed six college students and injured seven other people. A lawyer for victims and families of the dead announced this week that a partial settlement …

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California Workers’ Comp Department Suspends 9 Medical Providers for Fraud

The Division of Workers’ Compensation has suspended nine more medical providers from participating in California’s workers’ compensation system, bringing the total number of providers suspended this year to 94. The providers were suspended for fraud or other criminal actions. The …

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Uber Paid Hackers to Hide Breach of 50 Million Customer, Driver Records

Hackers stole the personal data of 57 million customers and drivers from Uber Technologies Inc., a massive breach that the company concealed for more than a year. This week, the ride-hailing firm ousted its chief security officer and one of …

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Four Missing in Pennsylvania Senior Home Inferno

Four people are missing and presumed dead following last week’s fire at a Pennsylvania senior living community. The massive blaze tore through Barclay Friends Senior Living Community in West Chester late Thursday, injuring more than two-dozen people and displacing 133 …

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Small Business Owners Want More Self-Service Workers’ Compensation Tools: Survey

Nearly a quarter (23 percent) of America’s small business owners believe workers’ compensation carriers could improve their customer service if they offered more online or self-service tools. Better communication and faster claims resolution also topped the list of small businesses’ …

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A Family Environment at New York’s Seely & Durland Insurance

As a fourth generation, family-run organization, Warwick, N.Y.-based Seely & Durland Insurance understands the importance of creating a welcoming, family environment in the workplace, according to President Garrett Durland. “We like to treat both our clients and our employees like …

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Probe Underway Into Fatal Blasts, Fire at New York Cosmetics Factory

State and local authorities are trying to determine what triggered explosions and a fire at a cosmetics factory in New York’s Hudson Valley that killed one employee and injure nearly three dozen other workers and firefighters. The blasts occurred about …

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Fatal Crashes on Private Planes at Lowest in 50 Years

The rate of fatal crashes on privately owned aircraft in the U.S. dropped to the lowest level in 50 years in 2016. The fatal-accident rate was less than 1 per 100,000 flight hours, the first time it has reached that …

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As Re/Insurers’ Results Are Hit, ‘Substantial’ Rate Hikes Expected: Swiss Re

Non-life re/insurers’ full-year underwriting results are likely to be severely impacted from the second half’s three hurricanes and earthquakes in Mexico, which will lead to rate hardening for non-life insurers and reinsurers, according to a report published by Swiss Re. …

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Starr Cos. Forms Agreement with SMARTT MGA for General Aviation Business

Starr Cos. announced an agreement with SMARTT MGA to act as agents for Starr International (Europe) Ltd. to provide automated quotes and policy documentation for light general aviation business. “We have built a close and fruitful relationship with SMARTT and …

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BHSI Introduces Contractors Plant & Equipment Cover in Australia

Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has introduced a new Contractors Plant & Equipment (CP&E) policy for customers in Australia. “With this new policy, contractors can easily and efficiently address their property damage and liability exposures, including road …

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Airbus Aims to Develop Single Pilot, Autonomous Aircraft to Cut Crew Needs

Airbus SE is looking to develop autonomous aircraft and technologies that will allow a single pilot to operate commercial jetliners, helping cut costs for carriers, Chief Technology Officer Paul Eremenko said. “The more disruptive approach is to say maybe we …

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Best Agencies to Work For West: Kulchin Ross – Bronze

There are no worries about who will take over at Kulchin Ross Insurance Services LLC when the agency principals decide to hang it up. The agency, which has grown from a handful of employees to more than 30 employees since …

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Go Ahead and Start a Climate Change Debate at the Thanksgiving Table

When you pass the turkey gravy on Thursday consider stuffing a hunk of climate change discourse down your uncle Jeb’s gullet. Let him stew until he’s good and fermented, then agitate as needed to see the fruits of your labor. …

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UK Accounting Regulator Urged to Slap Larger Fines on ‘Big Four’

Misdeeds by the world’s “Big Four” accounting firms should be punished with much bigger fines, Britain’s accounting watchdog was advised in a report released on Tuesday. “Fines greater than those that have heretofore been imposed may be appropriate in really …

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Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters

Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling continues to improve, weather stations more …

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Why Employees Cheat at Work

It can happen in the branch office or the boardroom. Volkswagen did it to pass emissions tests. Wells-Fargo did it to squeeze more profits from their customers. Some school districts have it done it to boost their standardized test scores. …

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Family of 4 Indicted for $550K Insurance Fraud Scheme in West Virginia

A man, his ex-wife and two sons are accused of burning down two West Virginia homes and pocketing over $550,000 in insurance claims. The Charleston Gazette-Mail reports 66-year-old Windel Lester, his ex-wife, 41-year-old Georgetta Lester, and his sons, 40-year-old Gregory …

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CAMICO Simplifies Professional Liability Application for Small Accountant Firms

CAMICO, a nationwide CPA-directed program of insurance and risk management for the accounting profession, has introduced a new insurance application for smaller CPA firms. The online, interactive application guides users through a three-step process for accountants professional liability (APL) insurance. …

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Florida Nursing Home to Congress: Patient Deaths After Hurricane Irma Not Staff’s Fault

A Florida nursing home under investigation for the deaths of 13 patients after Hurricane Irma says in a letter to Congress that staff members did everything possible but couldn’t overcome a lack of power to the central air conditioner. In …

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Two Injured, Buildings Damaged by Tornadoes in Kentucky

The National Weather Service says two people were hurt in two moderate tornados in Kentucky. The weather service says both tornados touched down Saturday and were rated EF-1. The first happened shortly before 3:30 p.m. CST in Beaver Dam, Ohio …

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Best Agencies to Work For Southeast: Jones Insurance Agency – Bronze

Employees of Jones Insurance Agency in Garner, N.C., understand they aren’t just selling an insurance policy, they are carrying on a mission put in place when the company was founded in 1956. Jerry Jones, the company’s current CEO and chairman, …

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California-based Insurance Law Firm Segdgwick Closing Offices

Segdgwick LLP, a San Francisco, Calif.-based law firm that represented numerous insurance clients, is closing. The news of the closure came in the form of a letter sent out to this week making it known that Sedgwick will be closing …

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Gardner, Berger Appointed to Louisiana Citizens Property Insurance Commission

Louisiana Gov. John Bel Edwards has appointed Susan Denise Gardner and Eric S. Berger to serve on the Louisiana Citizens Property Insurance Commission. Gardner, of Clinton, is a certified financial examiner and market conduct manager, and the former chief deputy …

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The Carlyle Group to Acquire Dallas-Based BenefitMall

The Carlyle Group, a global alternative asset manager, is acquiring Dallas-based BenefitMall, a provider of employee benefits and payroll services to small and medium sized businesses across the U.S., from an investor group led by Austin Ventures. The transaction is …

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Gov. Mark Dayton has appointed Jessica Looman to serve as Minnesota Commerce Commissioner to replace Mike Rothman who resigned from the post last week, announcing he was launching a campaign to become the state’s attorney general. The commerce department oversees …

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Best Agencies to Work For Midwest: Esser Hayes Insurance Group — Silver

A Mission to Attract and Retain Quality People One of the hallmarks of Esser Hayes Insurance Group is that its employees tend to stick around for a long, long time — not because they have to but because they find …

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Best Agencies to Work For South Central: Insgroup — Silver

Prepared for the Future Even before its offices were inundated with 10 feet of water by Hurricane Harvey, Insgroup’s employees were proclaiming the agency’s virtues and lobbying for its inclusion as an Insurance Journal Best Agency to Work For. But …

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3M Faces New Cancer Claims in Minnesota’s $5B Lawsuit

Chemicals once used by 3M Co. for Scotchgard, fire retardants and other products have shown links to cancers and premature births, Minnesota’s State Attorney General said in a request to update a $5 billion lawsuit against the company. Minnesota, which …

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Smith Named President of Ironshore Environmental, Replacing O’Brien

Ironshore Inc. announced that Toby Smith has been appointed president of Ironshore Environmental. Smith assumes the role from John O’Brien, who recently left recently the company to pursue new opportunities. Smith will lead the global environmental unit, reporting to Shaun …

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Everest Re CEO Addesso Contract Is Extended Through 2019

Dominic Addesso, president and CEO of Bermuda-based Everest Re Group Ltd., has gotten a contract extension. The Bermuda-based reinsurer and insurer said he will remain in both roles through Dec. 31, 2019. Addesso has issued a short statement about the …

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Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers

Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different approach to assessing risk which …

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UK P&I Club Chooses Dublin as EU Headquarters After Brexit

British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …

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Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters

Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are insurers’ plans for EU subsidiaries (in …

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China’s Ping An Is World’s 2nd Largest Insurer by Market Value After Berkshire

A surge in Ping An Insurance (Group) Co.’s shares this year has made it the world’s second-largest insurer by market value behind only Berkshire Hathaway Inc. And the rally may not be done yet. Shares of the Chinese insurer, which …

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California Lawmakers May Limit Liability of Autonomous Carmakers

California regulators are embracing a General Motors recommendation that would help makers of self-driving cars avoid paying for accidents and other trouble, raising concerns that the proposal will put an unfair burden on vehicle owners. If adopted, the regulations drafted …

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Best Agencies to Work For West: Wood Gutmann – Silver

One can say the managers of Wood Gutmann & Bogart Insurance Brokers have made a long-term commitment to their workers. “Employee engagement” is a term Kevin Bogart, CEO of the firm, almost couldn’t use enough. “I can’t tell you anything …

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Uber, Transitioning to Fleet Operator, Orders 24,000 Driverless Cars from Volvo

Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the U.S. firm from an app used to summon a taxi to the owner and operator of a fleet of cars. The non-binding framework deal …

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Insurers Can Protect Ratings with Cautious Approach to Cyber Risk: Fitch

The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New York, Fitch …

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Some Massachusetts Towns Going to Pot, After All

They may not be mad about reefer, but a growing number of Massachusetts communities are leaving their borders open to commercial marijuana businesses, bucking a wave of bans and moratoriums that followed voter approval of legal recreational pot. Recent votes …

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Global Insurer Hiscox Hires Dorr in Massachusetts

Specialist global insurer Hiscox has appointed Glenn Dorr as head of business development and broker relationships for North America within its London market business. Dorr joins Hiscox from Lloyd’s USA, where he was responsible for managing cover holder and broker …

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Pennsylvania’s KMRD Partners Works Hard to Never Stop Improving

One of the first messages that appears on KMRD Partners Inc.’s website is a slogan that says, “We never stop improving for you.” The Warrington, Penn.-headquartered, boutique risk management and human capital solutions firm works hard to take that idea …

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Insurers Asked to Pay $90 Million to Settle Shareholder Claims Over Fox News Sexual Harassment

Twenty-First Century Fox Inc. has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor Bill O’Reilly. The settlement, …

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Conservatives Now Want to Abolish Board They Hoped Would Curtail Patent Suits

In August, a dozen inventors gathered around a fire pit outside the headquarters of the U.S. Patent and Trademark Office in Alexandria, Virginia, and set alight patents they said had been rendered worthless by an overreaching federal government. “It’s time …

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Hiscox Launches Coverage Suite for Financial Services Firms

Hiscox has launched a new suite of professional and management liability coverages for financial services firms across the U.S. The new platform, Hiscox FS, is an expansion of Hiscox’s current offering to financial services firms. Hiscox FS provides financial services …

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Florida Puts Workers’ Comp Carrier Guarantee Insurance In Receivership

Florida insurance regulators have placed workers’ compensation carrier Guarantee Insurance Co. in receivership due to inadequate reserves. According to documents from the Florida Office of Insurance Regulation (OIR), the company was materially under-reserved at year end 2016 and consented to …

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North Carolina Rate Bureau Requests 18.7% Increase for Homeowners Insurance

The North Carolina Rate Bureau has filed notice with the N.C. Department of Insurance request a statewide average increase in homeowners insurance rates of 18.7 percent for 2018, according to Insurance Commissioner Mike Causey. The NC Rate Bureau represents the …

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Best Agencies to Work For Southeast: Frank H. Furman – Silver

As a Florida-based agency, employees at Frank H. Furman understand the value of insurance and the important role they play as advisors. And they say the company’s team-focused and supportive environment motivates them to go above and beyond for their …

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Father And Son in California Sentenced in $400K Workers’ Comp Scheme

Jaime Rosario Del Real, 61, and son Israel Del Real, 37, have both pleaded guilty to four felony counts for their role in a $400,000 insurance fraud scheme denying workers’ compensation insurance and medical care for injured workers. The father …

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Bickmore Adds Portello in Northern California

Bickmore has named William Portello has joined the Sacramento, Calif. He will serve as the director of litigation management and will oversee the litigation management team and assist pool members throughout California with developing contract requirements and provide employment practices …

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Minnesota Settles with 13th Life Insurance Company Over Unpaid Claims

The Minnesota Commerce Department has reached a settlement agreement with a major life insurance company that owed money to Minnesotans for unpaid insurance policies, annuity contracts and retained asset accounts. The settlement with the American International Group (AIG) represents the …

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Oklahoma Joins International Insurance Information Exchange Agreement

Victoria Saporta, chair of the Executive Committee of the International Association of Insurance Supervisors (IAIS), has announced that the Oklahoma Insurance Department has joined an international supervisory cooperation and information exchange agreement. Since the first jurisdiction was admitted in June …

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Texas Governor Calls White House Disaster Aid Bill ‘Inadequate’

Republican Texas Gov. Greg Abbott on Friday criticized as “completely inadequate” the Trump administration’s $44 billion request to Congress for disaster relief in his hurricane-ravaged state and other areas hammered by storms. The White House shot back that Texas may …

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Crashes, Fatalities Jumped After Ohio Went to 70 Mph: Highway Patrol

The state highway patrol says crashes and fatalities jumped after Ohio adopted a 70 mph speed limit on many roads and highways. A patrol report released Thursday found a 24 percent increase in crashes on 70 mph roads, including 22 …

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Best Agencies to Work For South Central: BKCW — Gold

Employees at BKCW say there’s a lot to like at the Central Texas-based insurance agency, including its hiring practices, its friendly culture, its leadership, its outstanding reputation and its growth-with-balance attitude. All that, plus the fact that it has been …

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Best Agencies to Work For Midwest: Gibson — Gold

Where Every Employee Is an Owner As one employee stated: “This is not a great place to work — Gibson is the BEST place to work.” That’s the sentiment expressed by numerous employees at Indiana-based Gibson, which was selected as …

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Best Agencies to Work For Southeast: LassiterWare – Gold

LassiterWare employee praise of the agency they say is the Best to Work for in the Southeast increased so much this year, the company was selected as Insurance Journal’s 2017 Best Agency to Work For Gold Award winner in the …

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California District Settles Suit over Boy Killed While Walking to School in Fog

A California school district has settled a lawsuit from the family of a 9-year-old boy who was killed by a vehicle while walking to school in fog in 2015. The Fresno Bee reported the Parlier Unified School District will pay …

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LP Insurance is Where Being Connected Also Means Talking

When people use the word “connected,” they’re typically referring to the cool vastness of cyberspace, where they can surf the web, send and receive email or Facebook with one another. Often regarded as the Neanderthal cousin of modern communication, another …

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California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says

No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds to substantial catastrophe losses …

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450 Las Vegas Shooting Victims and Family Members of Deceased File Lawsuits

Attorneys representing more than 450 victims of the Oct. 1 Las Vegas mass shooting have filed lawsuits against the hotels where the shooting occurred. Attorneys Mo Aziz of Abraham, Watkins, Nichols, Sorrels, Agosto & Aziz and Chad Pinkerton, of The …

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Best Agencies to Work For: Morris & Garritano – Overall Winner

It’s no easy feat to survive as a small business let alone to survive and thrive after 132 years in operation. That’s what Morris & Garritano (M&G) — winner of Insurance Journal’s 2017 Best Agencies to Work For 2017 Overall …

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How Lemonade Is Deciding Who Else May Sell Its Insurance

Digital insurer Lemonade reports that more than 400 businesses applied to sell its insurance within the first 24 hours after it offered to make its sales platform widely available. On October 12, Lemonade announced it launched a public API (application …

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Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best

Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion, according to calculations issued by A.M. Best. “We …

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USAA Among Backers of Home Water Damage Prevention Startup Flo

Flo Technologies has unveiled Flo, an intelligent home water monitoring and conservation system that promises to help reduce water damage insurance claims. The startup has raised a total of $11.5 million from investors led by Crosslink Capital with participation from …

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GOLD Best Agency to Work For – East: Mackoul & Associates

Working toward joining the Minor Leagues as an umpire to becoming the CEO of an insurance agency may seem like a big career change, but for Ed Mackoul, CEO and president of Mackoul & Associates Inc. in Island Park, N.Y., …

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Rolling Stone Slams Defamation Claim in University of Virginia Rape Story

Rolling Stone is defending itself against a defamation lawsuit over a discredited article about a University of Virginia gang rape by arguing that members of a school fraternity knew about discrepancies in the woman’s claims weeks before the article was …

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$1.3M Settlement in New Hampshire Paralyzed School Football Player Case

A New Hampshire city and its insurance carriers have agreed to pay a former high school football player who was paralyzed in a 2010 practice $2,000 a month as part of a $1.3 million settlement of his negligence lawsuit. The …

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Penn. Couple Suing Police, Insurance Company After Hibiscus Mistaken for Pot

A couple who say they were handcuffed for hours in a police patrol car after their hibiscus plants were confused for marijuana are suing the police and an insurance company. Edward and Audrey Cramer say in a lawsuit filed Tuesday …

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XL Catlin Taps Coladon from The Guaranty as Fine Art & Specie U/W in Canada

XL Catlin has appointed Farzina Coladon as underwriter, fine art and specie (FAS) in Canada. Coladon is responsible for underwriting fine art, jewelers block and general specie insurance across Canada. Based in Toronto, Coladon, joined on Nov. 6 and is …

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Pen Underwriting Builds on QBE Partnership with Irish P/C Capacity Deal

Pen Underwriting has extended its strategic relationship with QBE into the Republic of Ireland, with a new property & casualty capacity partnership in the highly specialist area of hazardous goods & environmental industries. The new partnership takes effect on Jan. …

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Technology Risk Mgmt Association TechAssure Names New Member in Germany

TechAssure, the international nonprofit association of insurance and risk management experts for technology-related risks, has named German insurance brokerage BüchnerBarella as a new member, effective immediately. Headquartered in Giessen, Germany, BüchnerBarella is an independent, full-service insurance brokerage firm that specializes …

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UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub

British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a move. Insurers are making …

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Despite Recent Natural Disasters, Homeowners Fail to Enhance Coverage: Clearsurance

A recent online survey of 1,000 U.S. individuals uncovered that the majority (87 percent) are concerned about a natural disaster striking their area but very few have taken action to protect themselves from being uninsured or underinsured. Of those that …

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Only a Third of U.S. Vehicles with Defective Takata Air Bags Repaired

Nearly two-thirds of the U.S. vehicles containing defective air bag inflators made by Takata Corp. remain unrepaired as automakers have made varying degrees of progress addressing the largest auto recall in U.S. history. As of mid-September, 20 million vehicles containing …

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Schiavone Takes Over Allianz Global Specialty’s Alternative Risk Team; Coppola to Head Financial Lines

Paul Schiavone has been appointed as global head of Allianz Global Corporate & Specialty’s Alternative Risk Transfer (ART) business, taking over from Bill Guffey who is leaving Allianz for other opportunities after 15 years at the company. Laura Coppola takes …

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Drugmaker Purdue Moves to Settle States’ Claims Over Opioids

Oxycontin maker Purdue Pharma LP is proposing a global settlement in an attempt to end state investigations and lawsuits over the U.S. opioid epidemic, according to people familiar with the talks. Purdue’s lawyers raised the prospect with several southern-state attorneys …

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RMS Comments: What’s Next If Flood Insurance Reform Passes? If It Fails?

Last week, the House of Representatives voted 237-189 to pass the 21st Century Flood Reform Act (H.R. 2874) – a package of seven bills that reauthorizes the National Flood Insurance Program (NFIP) until 2022 and introduces various reforms. The fate …

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Palomar Specialty Expands Residential Earthquake Product Into Additional States

Palomar Specialty Insurance Company has expanded its Flex Choice residential earthquake insurance product into the following states: Arkansas, Tennessee, Kentucky, Illinois, Indiana and Utah. Flex Choice allows consumers to customize their residential earthquake coverage to meet their specific needs and …

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Family Claims Safety Hazard Killed 5-Year-Old at Atlanta Rotating Restaurant

The family of a 5-year-old boy killed when he became caught in a rotating Atlanta restaurant is suing the company, saying it failed to prevent a “longstanding safety hazard.” The lawsuit comes after Charlie Holt died in the Sun Dial, …

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Fire Caused by Ventilation Fan Destroys Mississippi Factory

An electrical fire inside a ventilation fan is believed to have fed a Thursday fire that destroyed a northeast Mississippi factory. Alcorn County Deputy Fire Coordinator Jackie Farr tells The Daily Cornithian that Palmer-Handrail Custom Millwork employees tried to put …

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Gresham to Lead Expansion of Pinnacle Actuarial Resources into Carolinas

Consulting Actuary Legaré W. Gresham has established Pinnacle Actuarial Resources Inc.’s presence the Carolinas with the opening of an office in Charleston, South Carolina, as the firm continues to grow both domestically and internationally. Gresham has more than 10 years …

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Tesla Debuts 500-Mile Electric Heavy Duty Truck

Tesla Inc. upstaged its own debut of an electric heavy duty truck on Thursday when a red Roadster pulled out of the big rig’s trailer and Chief Executive Elon Musk said the new $200,000 sports car would be the fastest …

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Texas Surplus Lines Premium Up 6% for the Year

Texas has recorded $4.6 billion in surplus lines premium through the end of October 2017, a 6 percent increase over 2016, according to the Surplus Lines Stamping Office of Texas (SLTX). Providing an update at the annual meeting of the …

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Louisiana Business, Industry Group Names LUBA Workers’ Comp Company of the Year

LUBA Workers’ Comp, a regional casualty insurance company, was named Company of the Year in the 100 employees or less category of the Louisiana Association of Business and Industry’s 2017 Free Enterprise Awards. The awards recognize companies with an unparalleled …

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Minnesota Commerce Commissioner Rothman to Run for State Attorney General

Minnesota Commerce Commissioner Mike Rothman announced that he is leaving his post to run a campaign for state attorney general. In a statement, Rothman said he is stepping down as of 11 a.m. today. “I have made the decision to …

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Rate Increases Approved for Texas Automobile Insurance Plan Association

Texas Insurance Commissioner Kent Sullivan has approved changes in the rates for private passenger and commercial automobile insurance provided through the Texas Automobile Insurance Plan Association (TAIPA), which is the state’s assigned risk plan. The changes, which are effective March …

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Historic Indiana Fieldhouse Hit by Storm Insured for Nearly $10M

A central Indiana fieldhouse that’s one of the nation’s largest high school basketball venues was insured for nearly $10 million when a severe thunderstorm recently damaged it, school officials say. The historic Muncie Fieldhouse was valued at $9,858,130 on Feb. …

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Miralles to Lead Enterprise Risk Management at CNA as Chief Risk Officer

Chicago-based commercial, CNA, has appointed Al Miralles as chief risk officer (CRO), effective Jan. 1, 2018. Miralles joined CNA in 2011 as senior vice president and treasurer and has been leading the Long Term Care business since 2014. In addition …

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Markel Finalizes Acquisition of State National Companies

Markel Corp. has completed its previously announced acquisition of State National Companies, a specialty provider of property/casualty insurance services that operates two core businesses, program services and lender services. Markel, a Virginia-based in Virginia holding company for insurance, reinsurance and …

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UK’s IUA Publishes Good Practice Guide for Delegated Authorities

A guide to good practice for delegated authority arrangements in the London company market has been published by the International Underwriting Association, the group that represents non-Lloyd’s international and wholesale insurance and reinsurance companies in the London Market. The guide …

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United Valley Insurance Services in California Adds De La Torre in Marketing

Fresno, Calif.-based United Valley Insurance Services Inc. has named Maggie De La Torre a marketing team assistant. De La Torre holds a will provide support to the United Valley marketing team and will market high net worth personal lines, flood …

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China Tightens Rules on $15 Trillion Asset Management Sector to Cut Systemic Risks

China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines unified rules covering asset management …

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Assurance Adds Wolfrey to Washington D.C. Team as Risk Management Consultant

Assurance, a Top 50 U.S. insurance brokerage, has hired Eric Wolfrey to its Washington D.C. team to serve as a risk management consultant. Wolfrey will provide business insurance and risk management solutions to a variety of industries with a concentration …

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Patron Injured After Car Crashes Into Maine Diner

Police in Maine say a man has been injured and another man arrested after a car involved in a collision barreled into a diner. According to police, three vehicles were involved in a collision in Sanford around 3:36 p.m. Tuesday. …

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The American Arbitration Association Opens Office in Upstate New York

The American Arbitration Association (AAA), a provider of conflict management and dispute resolution services, has opened a new office in Buffalo, N.Y., offering local arbitration support in a region that has experienced an increase in arbitration requests for no-fault auto …

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Barbican Insurance Launches U.S. Specialty Property MGA Targeting Southeast Coast

Barbican Insurance Group has launched Barbican Specialty US, a new managing general agency (MGA) providing wholesale excess and surplus (E&S) property insurance for small-to-medium-sized commercial operations along the southeastern coast of the United States. Based in Atlanta and Kansas City, …

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California Jury Sides with J&J Against Talcum Powder Cancer Claims

A California jury on Thursday ruled in favor of Johnson & Johnson in a lawsuit by a woman who said she developed the cancer mesothelioma after being exposed to asbestos in the company’s talc-based products including J&J’s Baby Powder. The …

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Court Orders J&J to Pay $247 Million, Another Big Loss Over Hip Implant Product

Johnson & Johnson was ordered to pay $247 million to half a dozen patients who claimed the company hid defects in its Pinnacle artificial hips, its third big-dollar loss over the products. Officials of the company’s DePuy unit, which makes …

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Markel’s Crowley to Retire at End of 2017

Markel Corp. announced that F. Michael Crowley, the company’s vice chairman, plans to retire on December 31, 2017. Crowley will transition his duties and responsibilities as well as his relationships with key producers and clients to designated employees through the …

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Canada’s Economical Restructures to Strengthen Broker Relationships, Profits

Economical Insurance announced the creation of a new organizational structure, with three market-facing regions. The restructuring is designed to improve profits, strengthen relationships with broker partners, capture more market share in small business, and expand capabilities in middle market and …

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EU Wants Insurers to Plug Investment Gap, but Bank Partners Needed: Regulator

Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU insurance capital rules known as Solvency …

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EU Insurers Have Raised Their Exposure to Riskier Investments: EU Regulator

Insurance companies, in their search for yield, have increased their exposure to bonds with lower credit ratings and to less liquid securities like non-listed equities and loans, according to a survey by Europe’s insurance watchdog published Thursday. The survey, looking …

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Ships Must Meet Emission Rules or Be Called ‘Unseaworthy,’ Lose Insurance: IMO

Ships which do not meet cuts to the amount of sulfur they can burn in their engines risk being declared “unseaworthy,” the International Maritime Organization (IMO) said on Thursday. Shippers and refiner are not sure how they will comply with …

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Chicken Processor Settles Florida Water Pollution Suit for $1.4M

A major chicken processing plant that has been cited for polluting the Suwannee River settled a lawsuit on Wednesday that was brought by environmental groups in Florida. Pilgrim’s Pride Corp. settled the suit with Environment Florida and the Sierra Club, …

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How To Stop the Next Harvey Weinstein: Viewpont

In the 26 years since the Anita Hill hearings focused national attention on the issue of sexual harassment in the workplace, significant progress has been made. Most employers take seriously allegations of sexual and ethnic harassment and show little tolerance …

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House Passes Tax Cut Package; Debate Moves to Senate

Congressional Republicans took an important step on Thursday toward the biggest U.S. tax-code overhaul since the 1980s as the House of Representatives approved a broad package of tax cuts sought by senior lawmakers and President Donald Trump. The House vote …

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How Consolidation Has Changed Crop Insurance Sector: Conning

Crop insurance was once a sector full of smaller players, but a mergers-and-acquisitions (M&A)-driven push for efficiency and scale has left it dominated by fewer and larger carriers, and analysts at Conning predict a continuation of the trend. “We expect …

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Paid ‘Climate Leave’ May Be Next Employee Benefit

Even the workplace has to adapt to the warming world. As climate change creates more intense storms, companies have started preparing for work disruptions due to extreme weather. In a sign of the times, Fog Creek, a software company based …

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Alabama Department of Insurance Launches Online Help Chat for Agents, Consumers

The Alabama Department of Insurance has launched a new online chat to offer consumers another avenue to have their insurance questions answered quickly. Representatives are now available at www.aldoi.gov to help with common insurance-related questions. The chat box is located …

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The Hilb Group Acquires David Hill and Associates of North Carolina

The Hilb Group, LLC (THG) has acquired David Hill & Associates, Inc. (DHA) of Wilmington, N.C. DHA will be joining the existing Hilb Group office in Wilmington to build an expanded benefits practice. DHA represents THG’s 41st acquisition since 2009 …

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Modeler: Insured Losses for California Wildfires Could Reach $10.5B

Loss estimates for the October California wildfire siege could reach up to $10.5 billion, according to catastrophe modeling firm AIR Worldwide. Boston, Mass.-based AIR on Thursday updated its loss estimates for the recent wildfires after analyzing findings from its damage …

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California’s Nonfatal Worker Injuries Remained Steady in 2016

The California Department of Industrial Relations has released the 2016 occupational injury and illness data on employer-reported injuries that shows nonfatal worker injured remained steady in the state. Estimates provided by the U.S. Bureau of Labor Statistics’ Survey of Occupational …

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H.W. Kaufman Group, Burns & Wilcox Promote 22 Insurance Pros in North America

H.W. Kaufman Group and Burns & Wilcox have promoted 22 insurance industry veterans across 15 locations in the United States and Canada. The promotions were announced at a recognition dinner during the annual 2017 Kaufman Leadership Meeting. They include: Matthew …

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Indianapolis Sues Several Opioid Makers, Distributors

The city of Indianapolis sued several manufacturers and distributors of prescription painkillers in federal court on Nov. 14, alleging that their actions are to blame for the city’s growing opioid crisis. The lawsuit contends that the “dramatic increase” in painkiller …

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Ohio Company Pays $75M to Settle Suits over Alleged False Hospice Claims

An Ohio corporation has paid the U.S. government a record $75 million to settle lawsuits stemming from alleged false claims about hospice patients. The U.S. Department of Justice says that between 2002 and 2013 Chemed subsidiary Vitas knowingly submitted false …

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Credit Ratings of Michigan’s Great Lakes Casualty Insurance Co. Withdrawn

A.M. Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+”, each with a stable outlook, of Great Lakes Casualty Insurance Co. (Great Lakes) in Grand Rapids, Michigan. The rating withdrawals reflect …

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Texas Weather Forensics Company Unveils Hail Intensity Assessment Product

Plano, Texas-based weather forensics company, Dynamic Weather Solutions (DWS) dba HailStrike, announced the launch of a product that indicates the intensity of hail within an area of a storm. The value of this specified information is that it accurately quantifies …

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Former Oklahoma Seismologist Says He Was Pressured not to Link Quakes, Oil and Gas

Oklahoma’s former lead seismologist says he felt pressured by an official at the University of Oklahoma to not link the state’s surge in earthquakes to oil and gas production. The Tulsa World reports that Austin Holland’s sworn testimony came in …

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Louisiana Parishes Have Been Designated Disaster Areas Due to Harvey

The federal government has designated several Louisiana parishes disaster areas due to damages caused by flooding from Hurricane Harvey. Agriculture and Forestry Commissioner Mike Strain says the U.S. Department of Agriculture’s Farm Service Agency recently gave Cameron, Grant, Natchitoches and …

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California-based Insurtech Selling Risk Management as Part of Cyber Product

A California insurtech startup with a new cyber product has launched today to offer brokers and their clients what it calls “redesigned insurance, with cyber security expertise at its core.” Mountain View, Calif.-based At-Bay launched out of stealth mode along …

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California Utility Blamed in 3 Suits for Deadly Wildfires

Pacific Gas and Electric Co. was blamed in three lawsuits filed this week for negligence in the wildfires that killed more than 40 people and destroyed over 8,000 homes in Northern California last month. The lawsuits allege the San Francisco-based …

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Chicken Dish Recalled by California Company over Listeria Fears

A California-based Indian food company has recalled pre-packaged chicken tikka masala products over possible listeria contamination. The U.S. Department of Agriculture’s Food Safety and Inspection Service said this week that the recalled dishes by Sukhi’s Gourmet Indian Foods have a …

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California Companies Ordered to Stop Selling Workers’ Comp Policies

California Insurance Commissioner Dave Jones has issued an order requiring a central valley company and its affiliates to stop selling workers’ compensation and liability policies because it is not properly licensed with the California Department of Insurance. In October 2016, …

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Trade Groups Push for National Labeling Law to Override States’ Requirements

The Grocery Manufacturers Association and dozens of other trade groups are pushing for a federal law that could override state ingredient-disclosure rules and warning labels, including California’s landmark Proposition 65. About 50 trade organizations have backed an effort for a …

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NTSB: Amtrak’s Lax Safety Led to Penn. Crash That Killed Two Workers

Two maintenance workers who were struck and killed by a speeding Amtrak train near Philadelphia last year were the victims of a lax safety culture that had permeated the government-owned railroad, federal investigators said Tuesday. The National Transportation Safety Board …

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New Hampshire House Committee Rejects Marijuana Legalization Bill

A bill that would legalize marijuana in New Hampshire has been rejected by a House committee. The Concord Monitor reports the Criminal Justice and Public Safety Committee on Tuesday voted not to recommend the bill to the House. Under the …

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The Hilb Group Acquires Majority of Assets from New Jersey’s IOA Northeast NY Inc.

The Hilb Group LLC (THG) has acquired the majority of the assets of IOA Northeast NY Inc. (IOANE), a division of IOA National Inc. The transaction became effective November 1, 2017. Located in Florham Park, N.J., IOANE provides property and …

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Delaware Woman Faces Sentencing in $6M Fraud Case

Federal prosecutors say a Delaware woman charged with transferring more than $6 million from the operating account of the financial services company where she worked into her own bank accounts over several years deserves to spend at least five years …

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UK Regulator Broker Probe May Make London Market More Competitive: Fitch

The Financial Conduct Authority’s review of the wholesale insurance broker market could help counter the trend of rising expenses for London market insurers, according to a Fitch Ratings briefing. This could make London more competitive with smaller hubs in other …

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Insured Losses for Cyclone Xavier in Germany Estimated at $343.6M: PERILS

The initial estimate of the insured property market loss for Extratropical Cyclone Xavier, which primarily affected Germany on Oct. 5, 2017, is €291 million (US$343.6 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. In …

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Blockchain Is Littered with ‘Smart Contracts’ Gone Bad: Opinion

Smart contracts were supposed to revolutionize finance. So far, however, they have proven adept mainly at helping people lose their money. The digital contracts make use of blockchain technology to get around trusted intermediaries like banks. Let’s say you want …

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