AXA XL Adds Cybersecurity Services to Cyber Insurance Program

AXA XL, a division of AXA, has added complimentary proactive cybersecurity services for its primary cyber & technology insurance clients to improve their cybersecurity preparedness. During their first cyber insurance policy year, AXA XL’s cyber clients can choose one of …

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Texas’ Hotchkiss Insurance Hires 2 in Employee Benefits Division

Hotchkiss Insurance, a Texas-based full-service independent agency, has expanded its employee benefits division with the addition of Chris Hamilton as the employee benefits practice leader and Natalie Cooper as an account executive. Hamilton and Cooper will serve clients statewide from …

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Merk Tapped as Next Executive VP, CEO at Wisconsin’s Rural Mutual

Madison, Wisconsin-based property/casualty insurer, Rural Mutual Insurance Co. (Rural), has appointed Daniel J. Merk as executive vice president and CEO. Merk will work with current executive VP and CEO Peter Pelizza in a transitional period while holding the title of …

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Lion Air Crash Demonstrates Unintended Consequences of Cockpit Automation

As Boeing Co. was developing its latest version of the 737 airliner, it discovered the design was slightly more prone to a loss of control. So the company added a computer-driven safety feature — one that is now a focus …

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Harvey Relief Fund Grants Total Nearly $114M

A relief fund established after heavy rain from Hurricane Harvey swamped parts of Houston has provided its final grants in an overall nearly $114 million charitable effort. Leaders of the Hurricane Harvey Relief Fund on Nov. 28 announced $3 million …

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Explosion at ChemChina’s Hebei Plant Caused by Gas Leak

A gas leak at a plant owned by a ChemChina subsidiary caused a blast that killed 23 people and injured 22 this week in Zhangjiakou, Hebei province, ChemChina said in a statement on Friday. PVC producer Hebei Shenghua Chemical Industry …

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MillerCoors, Pabst Settle Suit Over Brewing Contract

MillerCoors and Pabst Brewing Co. settled a lawsuit on Nov. 28 in which the hipster’s brand of choice claimed the bigger brewer lied about its ability to continue brewing Pabst’s beers to put that company out of business. The settlement …

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Modeler: Insured Losses from Woolsey Fire in Southern California at Least $2.5B

Catastrophe risk modeling firm AIR Worldwide on Friday said it estimates that insured losses from the Woolsey Fire in Southern California will be at least $2.5 billion. Moody’s on Thursday released estimates showing property/casualty insurers and reinsurers total insured losses …

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Hawley to Reintroduce McCaskill’s Duck Boat Bill

Republican Sen.-Elect Josh Hawley of Missouri says he’ll reintroduce a duck boat safety bill that his campaign rival Sen. Claire McCaskill proposed after a duck boat sank in July, killing 17 people. Hawley said he’ll bring the legislation up again …

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Beazley Adds QBE’s Lever to Marine Underwriting Team in Houston

Beazley has appointed Reese Lever as a U.S. marine underwriter for the Southwest region. Reese joins Beazley’s office in Houston, Texas, from QBE where he was a vice president, marine, based in the same city. A seasoned all lines marine …

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Survivors of Arkansas Nightclub Shooting Sue Owners

Nineteen people who survived a shooting last year at a Little Rock, Arkansas, nightclub filed a lawsuit against the club’s owners, alleging negligence in security and in staff training. At a press conference, two survivors and their lawyers said they …

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Marriott Starwood Assessing Impact of 4-Year Long Data Breach

Marriott International said on Friday hackers stole about 500 million records from its Starwood Hotels reservation system in an attack that began four years ago, exposing personal data of customers including some payment card numbers. Shares of the company were …

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California Mobile Home Residents Awarded $34M in Suit over Living Conditions

A jury has awarded $34 million in damages to 51 current and former residents of a Southern California mobile home park they say is rife with problems including sinkholes, sewage backups and rats. The Los Angeles Times reported the damages …

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Colorado Agency Targeted in Massive Ransomware Scheme

No money was paid and no information was lost during a ransomware cyberattack that exploited a cloud-based vulnerability in the Colorado Department of Transportation’s computer network last spring, officials said. CDOT was one of several government agencies across the country …

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Hartford InsurTech Hub Announces 2019 Cohort of Startups

Hartford InsurTech Hub, powered by Startupbootcamp, has unveiled the 2019 cohort of startups for its acceleration program. The chosen startups cover a range of abilities, from property insurance claims to peer-to-peer insurance (P2P). The 10 teams, selected from more than …

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New Virginia Building Code Could Alter Coastal Neighborhoods

A regulation in Virginia’s new building code could alter the look and feel of some neighborhoods near the state’s coast in the coming decades. The Virginian-Pilot reported Tuesday that the change will impact some of the Hampton Roads region’s historic, …

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CVS Says It Closed on Deal to Buy Aetna But Judge Balks

In an unusual move on Thursday, a federal judge raised the prospect of not approving CVS Health Corp.’s deal to buy insurer Aetna Inc., which closed earlier this week, during a routine portion of the legal process. Judge Richard Leon …

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Family of Woman with Opioid Addiction Sues a Mass. Police Department for Records

The family of a 30-year-old Vermont woman whose obituary gained national attention for its discussion about her opioid addiction are suing a Massachusetts police department for information about the days leading up to her death. The lawsuit was filed Tuesday …

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Massachusetts Pot Shops Report Sales Above $2.2M in 1st Week of Operation

The first commercial pot shops in Massachusetts sold more than $2.2 million worth of marijuana products during the first five days they were open for business. That’s according to figures released Tuesday by the Cannabis Control Commission. The stores in …

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AXIS Consolidates 4 Businesses Into Single Global Cyber and Technology Unit

AXIS Insurance said it is merging its U.S. Cyber, Technology, Media and Miscellaneous Professional Liability businesses into one major division to better address “borderless risks.” Dan Trueman has been appointed as global head of the division, dubbed the Global Cyber …

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British, Dutch Regulators Fine Uber for 2016 Cyber Attack

British and Dutch regulators on Tuesday [Nov. 27] fined ride-hailing service Uber for failing to protect customers’ personal information during a 2016 cyber attack involving millions of users. Names, mobile phone numbers and email addresses were compromised in the breach, …

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UK’s EU Draft Divorce Deal Preferable to No-Deal Brexit, Says FCA

Britain’s draft divorce settlement with the European Union is preferable to a no-deal Brexit even though this would leave it without a say over EU financial rules, its finance industry watchdog said on Thursday. The Financial Conduct Authority’s report was …

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Justice Department Vows to Pursue Individual Executives in Corporate Crime Cases

The U.S. Justice Department will make executive accountability a part of every investigation of corporate wrongdoing, Deputy Attorney General Rod Rosenstein said. “Under our revised policy, pursuing individuals responsible for wrongdoing will be a top priority in every corporate investigation,” …

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Democrats’ Climate Change Concern Ebbs When Congress Faces Flood Insurance

A Congressional stalemate over flood insurance highlights the difficulty of enacting the type of reforms urged last week in a U.S. government report on climate change — even for Democrats, who embraced the report’s findings. The heavily indebted National Flood …

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Judges Weigh Consolidating Firefighting Foam, Other Water Chemical Lawsuits

Creating a massive lawsuit over cancer-linked chemicals found in around a third of Americans’ drinking water got a skeptical reception in federal court Thursday. A panel of seven judges in Manhattan repeatedly asked whether cases across the U.S. should be …

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Democrats, Republicans Tentatively Agree on Farm Bill with Crop Insurance, Food Stamps

Democrats and Republicans said they reached a tentative deal on farm legislation after jettisoning controversial work requirements for food stamp recipients demanded by President Donald Trump and conservatives in the House. Lawmakers said Thursday they expect both chambers to take …

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J.M. Wilson Promotes Silverman to Transportation Underwriter in South Carolina

J.M. Wilson has promoted Cassandra Silverman to Transportation underwriter in its North Charleston, S.C., office. Silverman is responsible for underwriting new and renewal business, corresponding with carrier underwriters, and assisting independent agents in Georgia, North Carolina, South Carolina and Tennessee. …

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Company Building West Virginia Pipeline Fined $122K for Environmental Violations

A company building a natural gas pipeline in West Virginia has agreed to pay $122,350 for environmental violations. The Charleston Gazette-Mail cited a consent order made public Monday in reporting that Columbia Gas Transmission agreed to pay the amount to …

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Beck to Become Next Georgia Insurance Commissioner

Georgia Republican and former deputy insurance commissioner Jim Beck has been elected as the state’s next insurance commissioner, according to final election results. In a close race against insurance agent Janice Laws in the state election to replace Georgia Insurance …

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North Carolina Requests $8.8B in Florence Recovery Funds from Congress

North Carolina’s governor is asking Congress for more federal funding to recover from Hurricane Florence, saying the total $8.8 billion requested is comparable to the help Washington has provided for other disasters since Hurricane Katrina in 2005. Gov. Roy Cooper …

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Flood Insurance Lapse Avoided But Longer Term Extension Still Uncertain

The House and the Senate have approved a seven-day extension of the federal flood insurance program that keeps the program from lapsing Friday. That short extension will take the program to Dec. 7, the day by which Congress must pass …

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California Regulator Requiring PG&E to Implement Safety Recommendations

California’s top utilities regulator on Thursday ordered the embattled power utility Pacific Gas and Electric Co. to implement safety recommendations the agency’s staff outlined in an independent third-party report. The move by the California Public Utilities Commission comes as it …

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Survey from Regulator of Largest U.S. Insurance Market Shows More Coal Divestment by Insurers

California Insurance Commissioner Dave Jones on Thursday revealed he’s had some success with his 2018 Climate Risk Carbon Initiative Coal Divestment Follow-Up Survey. Jones said the results of the survey reflect an increase in the number of insurers that divested …

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Insurtech Oyster Opens up Its Pay-as-You-Go Workers’ Comp Model in California

A new insurtech wants to provide pay-as-you-go workers’ compensation to as many small businesses in California as possible, and it hopes to use the momentum it’s built following a quiet launch in the East earlier this year to do just …

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California OKs $16.3M Rate Reduction for Earthquake Policyholders

California Insurance Commissioner Dave Jones has approved a rate reduction for California Earthquake Authority residential earthquake policyholders that he says will bring millions of dollars in premium savings for 10s of thousands of homeowners and renters in the state. Jones …

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Laughlin Named Chief of Staff Insurance for Commissioner-Elect Mulready

Insurance Commissioner-Elect Glen Mulready has tapped Oklahoma native and longtime conservative adviserTyler Laughlin as chief of staff and first deputy insurance commissioner. Laughlin, currently a deputy commissioner for the Oklahoma Insurance Department, will lead Mulready’s transition into the post. Commissioner-elect …

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Starr Insurance to Offer Ski, Snowboard Rescue & Evacuation Insurance

Starr Insurance Companies has formed an agreement with Safe Descents, Inc. to provide the an insurance program for rescue and evacuation for skiers and snowboarders in the United States. The policy, underwritten by Starr Indemnity & Liability Co. and sold …

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Issuer Credit Rating of Texas Mutual Insurance Upgraded by A.M. Best

A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Texas Mutual Insurance Company (Texas Mutual) in Austin, Texas. The outlook of the Long-Term …

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J.M. Wilson Adds Henard as Commercial Bond Underwriter in Indiana

Managing general agency and surplus lines broker J.M. Wilson has hired Aimee Henard as a commercial bond underwriter in its Carmel, Indiana, office. Henard is responsible for underwriting new and renewal commercial and fidelity bonds, as well as corresponding with …

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Arkansas Plant Board Committee: Regulate Dicamba Use in 2019

An Arkansas Plant Board committee recommended that the state allow farmers to use the herbicide dicamba next year but extend protections to prevent the weed killer from drifting and damaging crops. The board’s pesticide committee voted Monday to allow in-crop …

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Ohio Has Fewest Traffic Deaths Since 1991 Over Thanksgiving Holiday Period

The State Highway Patrol says six people were killed in Ohio traffic crashes over this year’s Thanksgiving travel season — the lowest number of traffic fatalities for that travel period in 27 years. A patrol release says the six people …

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Legionnaire’s Crisis Behind Illinois Damage-Award Veto Override

People who are harmed or injured in incidents that are the state government’s fault will be eligible for damage awards of as much as $2 million after the state House voted to override a veto by Gov. Bruce Rauner. The …

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2.9M Colorado Residents Now Living in Areas at Risk Of Wildfire

The number of Coloradans whose homes are at risk from wildfires soared 45 percent in five years, reflecting the state’s booming population and changing uses of agricultural land, state officials said. The Colorado State Forest Service said 2.9 million people …

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USG Names Sewell AVP in Southern California

USG has named Larry Sewell business development assistant vice president in the Irvine, Calif. branch. Sewell will support the overall effort to expand USG’s Southern California footprint. He will also be a part of USG’s agency relationship management team, where …

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Moody’s Says Losses from California Wildfires Will Impact P/C Insurer And Reinsurer 4Q Earnings

Moody’s has released estimates showing property/casualty insurers and reinsurers total insured losses at $10 billion $15 billion from the California wildfires, which destroyed more than 20,000 residential and commercial structures, and damaged nearly 1,000 structures. Moody’s says it expects insured …

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Vermont Town Votes to Join Law Firm’s Opioid Lawsuit

A Vermont town’s select board has voted to work with a national law firm that plans to sue opioid makers over the drug crisis. The Bennington Banner reports Bennington will not have to pay for litigation as part of the …

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Hub International Reports Minority Investment by Canada’s Altas

Chicago-based global insurance broker Hub International Limited said it has received a “substantial minority investment” from funds managed by Altas Partners, an investment firm based in Toronto. Funds managed by Hellman & Friedman (H&F) remain the largest investor in Hub …

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Prep School Grad in Sex Assault Case Asks for New Trial

An elite prep school graduate convicted of using a computer to lure an underage student for sex is asking the New Hampshire Supreme Court for a new trial by arguing he had ineffective counsel. Owen Labrie, of Tunbridge, Vermont, was …

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New Jersey Blast Destroys Home, Damages School

Authorities say an explosion in a northwestern New Jersey home destroyed the residence and damaged a high school across the street. No injuries were reported in the blast, which occurred shortly before 11 p.m. Tuesday in Hardyston. Officials say no …

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Senators Encouraged by Talks on Farm Bill

U.S. lawmakers are very close to reaching a consensus in days on the Farm Bill, two senior senators said on Wednesday, after months of bitter partisan debate over the legislation to fund $867 billion in food and agriculture programs. “We …

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Applied Systems Among Firms Layering Loans to Pay Equity Owners

First the companies tapped the loan market. Not long after that, they came back for more. Corporations like Bausch Health Cos., a drugmaker, telecom provider Sprint Corp. and Applied Systems Inc., an insurance software provider, borrowed again this month after …

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Browne and Hunt Named CEO and Deputy CEO of AGCS UK

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty SE (AGCS) has announced that Sinéad Browne will assume the role of AGCS UK CEO in addition to her responsibilities as chief regions and markets officer, subject to regulatory approval. …

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Danish Prosecutors Charge Danske with Alleged Money Laundering Violations

Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch. The country’s biggest lender was placed under investigation in August over concerns that transactions worth …

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Timeline: Australia’s Inquiry of Misconduct at Banks, Insurers, Wealth Managers

For nine months a quasi-judicial public inquiry into Australia’s financial system has heard allegations of bribery, fraud, board-level cover-up, abuse of power and the charging of fees for no service. As the inquiry nears its end, the following is a …

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Australia Inquiry into Bank Misdeeds Could Trigger Sweeping Financial Sector Reform

An inquiry that has exposed rampant greed and wrongdoing in Australia’s major banks and wealth managers wraps up this week ahead of a final report which could trigger sweeping reform of the financial sector of the world’s 12-largest economy. Dismissed …

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No-Deal Brexit Could Be Worse for UK Economy than 2018 Financial Crisis: BoE

Britain risks suffering an even bigger hit to its economy than during the global financial crisis 10 years ago if it leaves the European Union in a worst-case Brexit scenario in four months’ time, the Bank of England said on …

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2M Patients Impacted by Data Breach at North Carolina-Based Health Care Group

A North Carolina-based health provider says more than 2 million of its patients may have had personal information compromised in a data breach of billing information. News outlets report Atrium, headquartered in Charlotte, said Tuesday the hacking of billing vendor …

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5 Killed, 200 Crashes on Mississippi Highways Over Thanksgiving

Five people have died in wrecks on Mississippi highways during the Thanksgiving holiday period. Mississippi Highway Patrol Capt. Johnny Poulos says that on Saturday, 61-year-old George Henyard Jr. of Morgan City, Louisiana, got his foot stuck in the tire of …

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FDA Vows Overhaul of Medical Device Approval System

U.S. health officials said this week they plan to overhaul the nation’s decades-old system for approving most medical devices, which has long been criticized by experts for failing to catch problems with risky implants and medical instruments. The Food and …

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What Insurers Want and Get from Insurtech Partnerships

Remember the scene in the 1989 movie When Harry Met Sally? During lunch with Harry at a deli, Sally very publicly fakes a wild orgasm. A nearby patron, when asked what she’d like to order, signals in Sally’s direction and …

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Puerto Rico Reforms Claims, Surplus Lines, Other Insurance Laws

The governor of Puerto Rico overhauled the U.S. territory’s insurance laws on Tuesday to help protect policyholders as thousands of claims remain unresolved more than a year after Hurricane Maria. Gov. Ricardo Rossello signed six laws into effect as he …

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How Insurer Deployed Technology to Expedite Wildfire Claims

As wildfires raged this month in California, insurance claims experts at Travelers sat in a command center 3,000 miles (4,828 kilometers) away in Connecticut, monitoring screens showing satellite images, photos from airplane flyovers and social media posts describing what was …

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Florida Principal Arrested in $16K Hurricane Irma Insurance Fraud Attempt

An elementary school principal in Jacksonville, Fla., has been arrested in an alleged attempt to commit more than $16,000 in insurance fraud related to Hurricane Irma, according to a statement from Florida CFO Jimmy Patronis, who leads the state’s Department …

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Crum & Forster A&H Division Forms Captive Facility in Cayman Islands

The Accident & Health Division of Crum & Forster has launched Crum & Forster SPC, a Captive Facility in the Cayman Islands. The A&H Segregated Portfolio Company (SPC) Captive is rated A by A.M. Best. The Crum & Forster SPC …

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Florida Deputy Insurance Commissioner Murphy Receives Dineen Award from NAIC

Florida Deputy Insurance Commissioner Susanne Murphy has been awarded the Robert Dineen Award for Outstanding Service and Contribution to the State Regulation of Insurance from the National Association of Insurance Commissioners (NAIC). Murphy was presented the award at the Opening …

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Negative Credit Implications from California Wildfire Could Emerge for Reinsurance, Fitch Says

The “downside credit risks” from the California wildfires are the most pronounced for investor-owned utilities, which could face large liabilities if IOU equipment is found to have ignited the fires. And negative credit implications could emerge for the reinsurance industry …

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Credit Ratings of Texas Hospital Insurance Exchange Upgraded

A.M. Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Texas Hospital Insurance Exchange (THIE) in Austin, Texas. The outlook of the …

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Sanchez Joins RHSB as Employee Benefits AVP in Dallas

Sebastian Sanchez joined RHSB (Roach Howard Smith & Barton) as assistant vice president in the Dallas-based agency’s Employee Benefits division. Sanchez is a benefit consultant with an emphasis in small to mid-market employers. His bilingual proficiency and multi-cultural background position …

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Texas Mutual Awards $100K Grant to Houston Construction Trade Training Center

Workers’ compensation carrier Texas Mutual Insurance Co. has awarded a $100,000 grant to the nonprofit Construction Career Collaborative (C3) to strengthen the skilled craft workforce in the Greater Houston region. C3 is a nonprofit alliance of owners, general contractors, specialty …

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J.M. Wilson Adds Vansyckle in Wisconsin

Managing general agency and surplus lines broker J.M. Wilson has hired Landen VanSyckle as sales and agency relations specialist in its Madison, Wisconsin, office. VanSyckle will be the primary resource and liaison for independent insurance agents in Wisconsin and Illinois …

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NAS Insurance Names Jacobs to Lead Underwriting Operations

NAS Insurance has named Jeff Jacobs to lead its Underwriting Operations. He is based in Chicago. Jacobs previously worked to establish NAS insurance’ regional operations in Chicago, New York and Atlanta. This new role expands his responsibilities for the company. …

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Missouri University Settles Former Baseball Player’s Lawsuit for $200K

State records show that former Southeast Missouri State University baseball player Broc Kreitler settled a lawsuit over an injury he suffered during a practice for $200,000. The Southeast Missourian reports that the settlement was reached earlier this year, although the …

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Kansas Company: Feed Truck Caused Amtrak Derailment

The upcoming trial over the Kansas derailment of an Amtrak passenger train has been cancelled after Cimarron Crossing Feeders admitted its runaway feed truck damaged the railroad track. Trial had been scheduled to start next week to determine who is …

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Small Quake Rattles West Central California Valley

A magnitude-4.0 earthquake rattled the rural west side of the San Joaquin Valley early, the U.S. Geological Survey confirmed. No damages were reported. The USGS reported the temblor occurred at 5:07 a.m. on Tuesday and was centered 6 miles northwest …

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QBE Group CEO Regan: Role-Modeling QBE DNA to #RampItUp #Together

This article is part of Carrier Management’s Cultural Q&A series featured in the Nov/Dec 2018 print edition. Q: Do you spend more time on culture or strategy? Pat Regan, Group CEO, QBE Insurance: Definitely culture. We spent a bit of …

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NAS Names D’Anna Chief Financial Officer in California

NAS Insurance Services LLC has expanded its senior management team with several new appointments, including naming Marcus D’Anna chief financial officer. D’Anna’s appointment as CFO comes after five years of service as a leader in the NAS accounting team. D’Anna …

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PG&E Decided Not to Cut Power as Winds Raged Before California Wildfire

In the days before California’s deadliest wildfire erupted near a PG&E Corp. power line during a windstorm, the company kept a close eye on the weather, warned customers it might shut off electricity in the area, and finally decided conditions …

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Investigators Say Broken Rail Caused Pennsylvania Derailment Over Summer

Investigators say a broken rail caused a freight train derailment in Pittsburgh over the summer that disrupted service for weeks. Norfolk Southern issued the findings Wednesday in a report to the Federal Railroad Administration. The report says the Aug. 5 …

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Former Students Sue Massachusetts College that Abruptly Closed

Students who attended a Massachusetts college that abruptly shut its doors filed a class-action lawsuit Monday against the school and former administrators and trustees, alleging they were victims of fraud, misrepresentation and invasion of privacy. The suit, filed in U.S. …

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Markel International to Partner with Yacht Insurer Pantaenius

Markel International, the specialist insurer, will partner with Pantaenius GmbH, the European yacht insurance provider, to strengthen and broaden the capabilities and services that together they provide their clients globally. Through offices across Europe, the U.S. and Australia, Pantaenius has …

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One Killed, Six Injured When Car Drives into NYC Pedestrians

A 70-year-old driver trying to parallel park on a New York City street Monday lost control of his minivan and struck several pedestrians standing next to a fruit stand, killing one person and injuring six others, police said. “The car …

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AXA to Buy Remaining 50% Stake in AXA Tianping for China Growth

AXA announced it has entered into an agreement with the current domestic shareholders of AXA Tianping Property & Casualty Insurance Co. Ltd. to acquire the remaining 50 percent stake of the company. Total consideration for the acquisition of the 50 …

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Hong Kong M&As Slump in 2018 with Insurance Sector Deals Hardest Hit

Mergers and acquisitions targeting Hong Kong financial firms have slumped this year, with insurance sector deals particularly hard hit, as China’s moves to tighten capital controls and crack down on corporate debt have driven mainland buyers away. Hong Kong’s financial …

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UK Economy Could Take 10.7% Economic Hit with No-Deal Brexit: Gov’t Report

The U.K. will suffer a major economic hit if Parliament rejects Theresa May’s Brexit deal and the country crashes out of the European Union with no new trade arrangements in place, according to official analysis. A government report on Wednesday …

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AXA Expects Profits to Be Boosted by Its $15 Billion XL Deal

AXA, Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. The French insurer said profits …

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Ironshore Environmental Enhances Contractors Ability Coverage for Pollution Incidents

Ironshore Environmental has enhanced its Contractors Environmental Legal Liability (CELL) program to include coverage for damages resulting from pollution incidents caused by the contractor’s work. CELL is offered on an occurrence basis and can be underwritten as a practice, project …

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Kentucky Woman Sues Texas Roadhouse Chain Over Being Told to Cover Up While Breastfeeding

A Kentucky woman who says a Texas Roadhouse employee told her to cover up while she was breastfeeding is suing the restaurant chain for emotional distress. Sadie Durbin is quoted by news outlets as saying the employee rushed over with …

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IBM Joins Critics Calling for Regulation of Tech Firms’ Personal Data Use

International Business Machines Corp. Chief Executive Officer Ginni Rometty joined a growing chorus of tech executives lambasting web platforms, like Google and Facebook Inc., over their collection of user data and urged governments to target regulation at those companies. Without …

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How Taxpayers Subsidize Rebuilding Homes After Flooding… Repeatedly

Floodwaters rose about 15 inches (40 centimeters) into Danielle Rees’ home in September when Hurricane Florence drenched this tidewater city on the Pamlico River and overwhelmed a local creek and marshland. The first floor was a sopping mess of gritty, …

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Concerned Bankers, Investors Warn Federal Reserve About Leveraged Credit Market

Bankers, executives and investors are warning Federal Reserve officials behind closed doors that record leveraged lending to companies from lightly-regulated corners of Wall Street could make any economic downturn harder to manage. With the second-longest U.S. expansion in its advanced …

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Managing Natural Disasters Becomes Priority for Nation’s Governors

Governors have a wide range of priorities they want to tackle in the coming year, from tax reform to education. Yet it’s a topic that receives less attention on the campaign trail and in their speeches that could determine their …

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Analysts Weigh Chances Next Congress Will Actually Reform Flood Insurance

With the clock ticking on the National Flood Insurance Program’s authorization that is set to run out this Friday, Nov. 30, Congress is expected to renew the program short-term by taking one of two routes, either passing a bill to …

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Florida CFO: Insurers Must Step Up Response to Hurricane Michael Claims

Citing a “troubling” number of Hurricane Michael-related consumer complaints and claims denials, Florida’s top financial regulator is urging insurers to respond more quickly and adequately to consumers recovering from the major storm that devastated the Florida Panhandle in October. Florida …

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Fire Damages Macy’s Distribution Center in West Virginia

A fire official says operations have been suspended at a Macy’s distribution center in West Virginia after a fire broke out. No one was hurt. Hedgesville Volunteer Fire Capt. Brian Mulligan tells The Herald-Mail of Hagerstown, Maryland, that the state …

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Valley Insurance Agency in Washington Joins Leavitt Group

Leavitt Group has made Valley Insurance Agency part of Leavitt Group Northwest. Terms of the deal were not disclosed. Valley Insurance Agency’s Robert Bush, Sheila Siggins and Ginger Patton will remain with the merged agency. Bush and Siggins will work …

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Storm System Cancels Flights, Creates Treacherous Driving Conditions in Midwest

A wintry storm brought blizzard-like conditions to parts of the Midwest early Monday, grounding hundreds of flights and causing slick roads for commuters as they returned to work after the Thanksgiving weekend. The Chicago area was slammed with up to …

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2 Tornadoes Cause Damage in North Carolina

Two tornadoes have caused damage in coastal North Carolina. The National Weather Service said two tornadoes touched down Saturday afternoon. One tornado hit Emerald Isle and the other hit near Cape Carteret. There were no reported injuries or deaths. The …

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J.M. Wilson Announces Promotions, New Hires in Transportation Unit

Managing general agency and surplus lines broker, J.M. Wilson, has made a number of personnel changes in its transportation department with promotions and new hires in the Midwest. Josh Mauk was promoted to senior transportation underwriter in J.M. Wilson’s Carmel, …

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Alliant Insurance Services Adds Langley in Houston

Alliant Insurance Services has hired Jeff Langley as a vice president in its Houston office. Langley will provide a full range of risk management and insurance solutions to a diverse client base, further expanding Alliant’s reach and capabilities both in …

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Report: Hurricane Harvey Was a Sign of Things to Come, Climate-Wise

Texas should brace for more — and worse — Hurricane Harveys, according to a major scientific report made public on Nov. 23 by the Trump administration. Based on the research of hundreds of government and academic scientists, including several in …

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UK Regulator to Punish Financial Services Firms for Failures with Cyber Defenses

Britain’s Financial Conduct Authority will punish firms that are failing to get the basics right on cyber defenses, or whose botched IT projects harm consumers, a senior official at the markets watchdog said on Tuesday. Outages at banks such as …

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Hawaii’s Big Island Gets $10M For Lava Recovery

Hawaii is giving a $10 million grant to the Big Island to help jump-start recovery efforts following the Kilauea volcano eruption. The Hawaii County Council adopted a resolution last week to accept the funding, the Hawaii Tribune-Herald reported. The funds …

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Report Puts Losses from California Wildfires at $15B to $19B

Total losses from the wildfires in Northern and Southern California could reach from $15 billion to $19 billion, a report out on Tuesday shows. The report from industry data provider CoreLogic shows total losses from the Camp Fire, the most …

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Bill to Give PG&E Relief from California Wildfire Burden Bill Nears, But Long-Term Fix Is Elusive

PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. An assemblyman plans to introduce a bill in January that would give the state’s largest utility owner …

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Insurtech MGA Corvus Raises $10 Million to Expand Commercial Lines Business

Corvus Insurance has secured $10 million in new venture financing that the Boston-based insurtech managing general agency plans to use to jump into additional lines of commercial insurance. Two firms led the startup’s Series A financing: .406 Ventures and Hudson …

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Vermont Seeking Public Input on Regulating Contractors

Vermont officials are seeking a second round of feedback from the public on a proposal to regulate home improvement and construction contractors. Lauren Hibbert, of the Office of Professional Regulation with the Secretary of State, says the initiative began after …

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Ex-Bookkeeper to be Sentenced for Stealing Over $326K from Connecticut Business

A Virginia woman who embezzled more than $326,000 from a small family business in Connecticut is seeking home confinement instead of a prison sentence. Miriam Dubay, of Purcellville, Va., was scheduled to be sentenced in federal court in Bridgeport. She …

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Alera Group Acquires New Jersey’s CRISP Insurance Advisors, Two Additional Firms

Alera Group, a Deerfield, Ill.-based, national employee benefits, property and casualty, risk management and wealth management firm, has acquired three new firms: CRISP Insurance Advisors, Lively Insurance and Loretz Insurance LLC. Terms of the transactions were not disclosed. CRISP Insurance …

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Big I New York Appoints Hobson as Director of Government Relations

Big I New York, the state’s oldest insurance producer trade organization, has appointed Scott W. Hobson as its director of government relations. In this role, Hobson is responsible for developing and advancing Big I New York’s government relations strategy and …

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Brewery Defeats Trademark Complaint by Conservative Icon Schlafly’s Heirs

Relatives of the late conservative activist Phyllis Schlafly on Monday lost their appeal to block a St. Louis, Missouri, craft brewery from trademarking the Schlafly name. In a 3-0 decision, the U.S. Federal Circuit Court of Appeals ruled in favor …

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Marsh Awarded Abu Dhabi’s First Captive Insurance Management Licence

Insurance broker Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi. Operating as Marsh Management Services (MENA) Limited, the firm has been authorised to provide captive insurance management services by Abu Dhabi Global …

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Research Finds Fire-Resistant Building Codes Do Not Raise Home Prices

Homes in wildfire-prone areas around the U.S. could be built to better withstand blazes without increasing the cost of construction, according to a new report. The research released Tuesday was sponsored in part by the insurance industry and marks the …

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Greenhouse Gases Reach Level Last Seen 3-5 Million Years Ago: WMO Report

Greenhouse gas levels in the atmosphere reached a record not seen since sea levels were 10 meters to 20 meters (33 feet to 66 feet) higher than they are now, the World Meteorological Organization said in a report. Concentrations of …

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Brexit Deal Could Reduce UK Economy by 4% by 2030: Think Tank

The British government’s Brexit deal with Brussels is likely to mean Britain’s economy will be 3.9 percent smaller by 2030 than if it were to stay in the European Union, a leading think tank said on Monday. The hit would …

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Exclusive: Insiders Symington, Lehmann Analyze Mid-Term Elections for P/C Insurance

The voters have spoken. Republicans have increased their slight advantage in the Senate, while Democrats have flipped the House and will now be in control there. Of course, President Trump, a Republican, still occupies the White House. Now what? What …

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Burns & Wilcox to Offer Cybersecurity Services Through BreachAware

Burns & Wilcox has formed an exclusive partnership with London-based BreachAware, a cybersecurity company specializing in data breach research and analysis. This risk management program will serve as an extension of the cyber products and services offered by Burns & …

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Florida Mall Faces 10 Lawsuits Over Video Game Tournament Shooting

Ten lawsuits have been filed against the owners of a Florida outdoor mall where authorities say a gunman opened fire at an online video game tournament, killing two people, wounding several others and then fatally shooting himself. The Florida Times-Union …

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CLO Fever: Small Insurer Bets Big on Booming Leveraged Loan Market

Advantage Insurance of San Juan, Puerto Rico, is no one’s idea of a financial colossus. But this little insurance company is making a giant bet on some of the hottest investments around: collateralized loan obligations. That a company with about …

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OSHA Fines Alabama Steel Firm $320K Over Safety Hazards

An Alabama steel company is being fined more than $320,000 by the Occupational Safety and Health Administration over hazardous working conditions. Al.com reports OSHA announced the fine Nov. 13 for Montgomery-based Sabel Steel Service Inc. An agency news release says …

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North Carolina to Order Chemours to Reduce GenX Emissions, Pay $12M Fine

State environmental officials have proposed a consent order calling on a North Carolina chemical plant to reduce emissions of a compound and pay a $12 million civil penalty. The N.C. Department of Environmental Quality said in a news release Nov. …

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Texas’ Murex Petroleum to Pay $50K to Settle Race Harassment Suit

A Texas-based oil and gas company will pay $50,000 to settle a racial harassment lawsuit involving a black employee in North Dakota. The U.S. Equal Employment Opportunity Commission announced the settlement Wednesday with Houston-based Murex Petroleum Corp. According to the …

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Duck Boat Owner, Missouri Family Settle Suit Over Fatal Sinking

The company that owns a duck boat that sank on a Missouri lake in the summer, killing 17 people, has settled the first of several lawsuits filed in the accident. William Bright, 65, and his 63-year-old wife, Janice, of Higginsville, …

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Arthur J. Gallagher Acquires Buckman-Mitchell in California

Arthur J. Gallagher & Co. has acquired Buckman-Mitchell Inc., with offices in Visalia and Fresno, Calif. Terms of the deal were not disclosed. Clifford Dunbar, Judy Fussel, Brent Swanson, Todd Williams, Stephan Chrisman, Linda Loflin and their associates will continue …

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XL Insurance to Cut Coal Industry Business Under Parent AXA’s Climate Order

AXA, France’s biggest insurer, has extended its climate change policy to its recently acquired XL division, joining a growing list of European insurers that have taken action to help to tackle global warming. AXA, Europe’s second largest insurer after Allianz, …

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Texas Food Manufacturer Recalls Pork Rolls in Listeria Outbreak

Authorities have traced a multi-state listeria outbreak which has hospitalized four people to a Houston-based Vietnamese food manufacturer. The U.S. Department of Agriculture said Long Phung Food Products issued a recall for seven types of pork rolls that have been …

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Worker in Arkansas Electrocuted at Pine Bluff Plant

Authorities say a worker in Pine Bluff, Ark. has died after he was electrocuted at a cottonseed oil plant. Pine Bluff police say the employee was changing switches in an electrical cage at Planters Cotton Oil Mill on Monday when …

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Study Looks at Multiple Landslides in Minnesota

A study has determined that nearly 500 landslides have happened in the Mankato area in recent years. Minnesota State University Earth Science Programs Director Phillip Larson with the help of students mapped out the area’s ravines, bluffs, nooks and crannies …

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Records Show Woman Admitted Setting Iowa Fires for Insurance Money

A woman has been accused of setting two fires in Cedar Rapids, Iowa. Linn County court records say 48-year-old Carolyn Mittman is charged with two counts of arson. Her attorney didn’t immediately return a call from The Associated Press. Mittman’s …

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Indiana Man Suffers Brain Injuries, Seeks Damages

A northwestern Indiana man alleges in a federal lawsuit that he suffered a traumatic brain injury when a police officer ran a red light and struck his vehicle in 2016. Carlos Gallegos-Esqueda of Hammond is suing the Lake County Sheriff’s …

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WSS Names Singer Senior Vice President in California

WSS has named Tami Singer senior vice president of the commercial lines department. Singer will work out of the Sherman Oaks, Calif. office. She has more than 30 years of insurance experience with a focus on E&S. She has been …

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AI Enhances Highway Safety in Las Vegas

Artificial intelligence is helping improve safety along a stretch of Las Vegas’ busiest highway. The Nevada Highway Patrol says a yearlong partnership between public safety agencies and a startup technology firm resulted in a 17 percent reduction in crashes along …

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Utah Lawmakers Draft Bill on Marijuana, Set for Consideration

Utah lawmakers and others involved in forging legislation to revise a voter-approved medical marijuana law say they’ve settled on a new version for consideration during an anticipated December special session. The Utah Medical Cannabis Act set to be discussed during …

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Wildfire Relief for PG&E in California May Not Include Fix Utility Wants

PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. As early as Dec. 3, a lawmaker plans to introduce a bill that would give the state’s …

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Lawsuit Filed Against Operators of Limo in Fatal New York Crash

The operators of a limousine that crashed and killed 20 people in upstate New York were grossly negligent in putting the “dangerous and defective” vehicle on the road, according to a lawsuit filed by one of the victim’s parents. Amanda …

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Mass. Pot Shops May Be Open, but Workers Can Still Be Fired Over Weed

The long-awaited opening of the first recreational marijuana stores in Massachusetts was cheered by cannabis enthusiasts and entrepreneurs, but it doesn’t change the reality that workers can be fired or face disciplinary action from employers for marijuana, even when they …

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Frenkel & Company Hires Power as a Principal in New York

Frenkel & Company – an EPIC Company has hired risk management and insurance professional Michael Power as a principal. Power will be based in Frenkel’s New York, N.Y., office and report to Phil Remig, the firm’s Northeast region senior vice …

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Wells Fargo Seeks to Limit Payout for Faulty Auto Insurance Plan

Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. …

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Employers Mutual Looks to Acquire Outstanding Stock of EMC Group

Employers Mutual Casualty Co. has proposed to purchase all the outstanding common stock of its affiliate EMC Insurance Group Inc. As the parent company, Employers Mutual Casualty currently owns approximately 55 percent of the outstanding shares of EMC Insurance Group’s …

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BHP Readies for Largest English Group Lawsuit over 2015 Brazil Mine Disaster

Mining giant BHP says it will fight an unprecedented English lawsuit filed by hundreds of thousands of Brazilians for multi-billion pound damages over Brazil’s worst environmental disaster. SPG Law, a British offshoot of a U.S. litigator, represents 240,000 individuals in …

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Aon Launches Intangible Asset Cover for Gig Economy Companies

Aon plc announced the launch of a new non-damage business interruption (NDBI) cover which is designed to protect the income streams of the growing number of companies with high levels of intangible assets, such as those operating in the gig …

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Global Property, Mortality Protection Gap Hits $500B: Swiss Re

Households and businesses face a $500 billion global property and mortality protection gap, according to Swiss Re’s latest sigma study. Swiss Re’s report said that the figure illustrates increasing risk vulnerabilities emerging around the world but also presents an opportunity …

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EU Leaders Approve Brexit Treaty, Which Faces Rejection in UK Parliament

European Union leaders finally sealed a Brexit deal on Sunday, saying the package agreed with Prime Minister Theresa May was the best Britain will get in a warning to the British parliament not to reject it. “Those who think that, …

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Allianz Extends Contract of CEO Oliver Baete

The supervisory board of Allianz SE has decided to extend Oliver Baete’s contract as chairman of the board of management until September 2024. The original contract was to expire end of September 2019. “Under Mr. Baete’s leadership, Allianz has developed …

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A.M. Best: National Farmers Union Property and Casualty Ratings Under Review

A.M. Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of National Farmers Union Property and Casualty Co. (NFU P&C) in Sun Prairie, Wisconsin. These …

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North Carolina School System, Insurer Settle for $1.5M With Woman Who Lost Leg in Fall

A North Carolina school system and its insurance carrier have agreed to pay $1.5 million to a woman whose left leg was amputated after she fell at a school in 2015. The News & Observer of Raleigh reports Karen Clark …

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Red Tide Found in Gulf Off Alabama Shore

The Alabama Department of Health says that red tide has been found in water samples taken near Orange Beach and Gulf Shores. WKRG-TV reports the department says water samples taken from Alabama Point to Little Lagoon Pass showed the presence …

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Sears Investors Allege Improper Moves by Credit Insurance Seller Cyrus

Investors who bought insurance meant to mitigate losses from Sears Holdings Corp.’s bankruptcy proceedings are claiming that a hedge fund that sold the insurance is improperly influencing market proceedings, according to a letter seen by Reuters. According to the letter, …

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Florida County Hit Hard by Michael Takes Out $50M Bond for Recovery

A county on Florida’s Panhandle has voted to take out a $50 million bond to help recover from Hurricane Michael. The News-Herald reports that Bay County Commission voted Nov. 20 to use the money to cover debris removal, stormwater system …

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Report by 13 U.S. Agencies Warns of Dire Economic Effects from Climate Change

Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, hitting everything from health to infrastructure, according to a government report issued on Friday that the White House called inaccurate. The congressionally …

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Judge Nixes U.S. Suit Against Malaysia Airlines, Insure Allianz Over Plane Disappearance

A U.S. judge has dismissed nationwide litigation over the disappearance of Malaysia Airlines Flight MH370 in which victims’ families sought to hold the carrier, its insurer Allianz SE and Boeing Co. liable for the still-unexplained disaster. U.S. District Judge Ketanji …

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If UK Lawmakers Don’t Approve Brexit Deal, What Comes Next?

Theresa May has now presented the results of her two-year Brexit negotiation to Parliament. Next month she’s set to ask lawmakers to approve the deal. And everyone — except perhaps the prime minister — agrees that she’ll probably lose the …

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Factbox: Key Elements of EU-UK Draft Deal Encompassing Post-Brexit Ties

Britain and the European Union have agreed in principle on a text setting out their future relationship. The deal is pending endorsement by the bloc’s leaders at a summit on Sunday. Here are some key elements of the 26-page draft …

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EU, UK Agree Draft Text for Post-Brexit Ties in Time for Upcoming Summit

Britain and the European Union have agreed a draft text setting out a close post-Brexit economic relationship, paving the way for a summit of EU leaders to endorse the deal, European Council President Donald Tusk said on Thursday. Britain is …

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SCOR Launches Paris-Based P/C Specialty Insurer to Ensure Post-Brexit Continuity

SCOR announced the formation of SCOR Europe SE, a Paris-based P/C specialty insurance company, to ensure the continuity of services after Brexit. With effect from Jan. 1, 2019, SCOR Europe SE, a fully owned subsidiary of SE, will underwrite all …

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Researchers: Houston Skyscrapers Slowed Hurricane Harvey, Causing More Rain

Humans helped make recent devastating U.S. hurricanes wetter but in different ways, two new studies find. Hurricane Harvey snagged on the skyscrapers of Houston, causing it to slow and dump more rain than it normally would, one study found. The …

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Louisiana to Get Another $164 Million in BP Oil Spill Restoration Grants

Louisiana is getting $161.4 million in restoration grants from the 2010 BP Gulf of Mexico oil spill to restore two barrier islands and a headland in the Terrebonne Basin. The work will restore Timbalier and Trinity islands, which “are currently …

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Louisiana Posts 13 Straight Months of Job Gains

Seasonally adjusted data released by the Bureau of Labor and Statistics shows that seasonally adjusted nonfarm employment in Louisiana increased by 19,400 jobs to 1,989,700 since October 2017. According to the Louisiana Workforce Commission (LWC), seasonally adjusted nonfarm jobs have …

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Ohio State Researchers: Road Design Impacts Frequency of Distracted Driving Crashes

A new study from The Ohio State University’s Risk Institute reveals road design modifications can reduce the frequency and severity of distracted driving crashes. According to the Property Casualty Insurers Association of America (PCI), which funded The Risk Institute’s study, …

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Pilot, Paramedic, Nurse Killed in North Dakota Air Ambulance Crash

An air ambulance on its way to pick up a patient crashed shortly after taking off in North Dakota, killing all three people on board, and military officials involved in the response said the plane may have broken up in …

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Navajo Nation President Extends Crop Insurance Amid New Mexico Drought

Outgoing Navajo Nation President Russell Begaye has extended the tribe’s crop insurance amid ongoing extreme drought conditions. The Gallup Independent reports Begaye signed the insurance contract earlier this month. He says it will protect the tribe’s pastures, rangelands and forage …

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Earthquake Confirmed in Washington’s Olympic Peninsula

A magnitude 4.1 earthquake has shaken an area beneath Olympic National Park south of Port Angeles, the U.S. Geological Survey has confirmed. The USGS reported the earthquake hit just after 3 a.m. Monday. There were no immediate reports of damage. …

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Chubb Partners with Conservation Group on Flood Protection in Miami

Chubb announced that it is partnering with The Nature Conservancy, the world’s largest conservation organization, to work together in Miami to reduce the risk from storm impacts and rising sea levels on the vulnerable coastline. The collaboration, funded by a …

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EPA Warns on Chemical Found in Nonstick Coatings

Long-term exposure to a chemical compound currently used for making nonstick coatings appears to be dangerous, even in minute amounts, according to draft findings released by the Environmental Protection Agency. It was the first time EPA weighed in on newer, …

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Generali Earmarks €4 Billion ($4.6 Billion) for Acquisitions, Growth

Generali has earmarked up to four billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia to fuel earnings. Italy’s top insurer — which generates most of its revenues in …

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NFL Hands Off $35 Million to Concussion Researchers

The National Football League is awarding more than $35 million in funding to five organizations conducting research into diagnosis and treatment of brain injuries. Through its Scientific Advisory Board established as part of its “Play Smart. Play Safe” initiative, the …

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Lloyd’s Chief Operating Officer Khoury-Haq to Leave the Corporation

Lloyd’s of London announced that its chief operating officer, Shirine Khoury-Haq, has decided to leave the corporation, after nearly five years. Khoury-Haq joined Lloyd’s in 2014 and is a member of Lloyd’s executive committee. Her responsibilities include global operations, information …

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Mass. Appeals Court Rules Medical Device Manufacturer Illegally Fired Employee

A Massachusetts Appeals Court has ruled that Dielectrics, a Massachusetts-based medical device manufacturer, illegally fired Ileana Bermudez after she collected workers’ compensation benefits and filed a lawsuit against the company. The case, Ileana Bermudez vs. Dielectrics, Inc., came about after …

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S.C. Department of Insurance Director Farmer Named President-Elect at NAIC

South Carolina Department of Insurance Director Ray Farmer was elected to the position of president-elect at the NAIC (National Association of Insurance Commissioners) Fall National Meeting on November 18. Previously, Farmer served as secretary-treasurer and vice president at the NAIC. …

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UK Companies’ Role in Danske Money Laundering Scandal Called a ‘Disgrace’

British company structures which hide the identity of their beneficiaries are a “disgrace,” the whistleblower who brought to light an alleged 200 billion euro ($228 billion) money laundering scandal involving Danske Bank said. Howard Wilkinson, who headed Danske Bank’s Baltics …

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Family of Girl Electrocuted at MGM Resort in Maryland Plans to Sue

The family of a then-6-year-old girl who was electrocuted at the MGM National Harbor resort just outside Washington plans to sue. News outlets obtained a copy of a forthcoming lawsuit from the family of Zynae Green, who turned 7 Sunday …

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U.S. Senate Committee Holding Hearing on Massachusetts Natural Gas Incident

U.S. senators are holding a hearing in Lawrence, Mass., to review the response to the September natural gas explosions that rocked Merrimack Valley communities. The Senate Committee on Commerce, Science, and Transportation will hold its oversight hearing at the South …

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One Man Killed, Another Injured in North Georgia Plane Crash

A plane crash in north Georgia left one man dead and another injured. Gainesville police say 68-year-old Robert Carlisle Alberhasky of Cumming, who was believed to have been the pilot of the small plane, was killed in the Saturday night …

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A.M. Best Discusses What’s Ahead for UK Insurers as Brexit Deadline Looms

When the UK withdraws from the EU, and at the end of any transition period, passporting rights that currently exist between the UK and countries in the European Economic Area (EEA) are expected to cease, said A.M. Best in a …

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Aon Taps Jones from Guy Carpenter as Exec. Chairman, Asia Reinsurance Solutions

Aon plc has appointed Richard Jones as executive chairman of its Reinsurance Solutions business in Asia. Jones will be responsible for business development and supporting clients across the Asia region. Based in Singapore, Jones will join Aon in May 2019 …

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UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions

British companies selling everything from washing machines to flights, food and mortgages plan to spend tens of millions of pounds in case the political brinkmanship gripping the country leads to a disorderly Brexit. With barely four months until the world’s …

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JLT Re’s Chairman Howard Named Vice Chairman of Guy Carpenter

Guy Carpenter & Co., the global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Cos. (MMC), announced a new leadership appointment from Jardine Lloyd Thompson Group plc (JLT). Effective upon closing of the transaction between …

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Healthier Workplaces Help to Reduce Group Insurance Costs, Says Manulife

When Canadians hit the gym, they’re not the only ones who benefit. Their insurers stand to gain as well. “If we can have a healthier workplace it is going to decrease disability costs, it’s going to decrease general health costs …

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A.M. Best Upgrades Credit Ratings of Kansas’ Upland Mutual Insurance

A.M. Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Upland Mutual Insurance Inc. in Junction City, Kansas. The outlooks of these …

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Judge Picks First Case for Trial in Federal Monsanto Weedkiller Litigation

A U.S. judge overseeing the federal litigation against Bayer AG’s Monsanto unit over glyphosate-based weed-killers allegedly causing cancer on Tuesday selected the first case to be tried in federal court in February 2019. U.S. District Judge Vince Chaabria in San …

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Beach Town Developers Now Believe in Stronger Building Codes, Construction

Developer Jeff Lamkin knew the risks when he paid $250 million for 63 acres of an island off the Texas coast. But he saw only upside in the quaint little beach town of Port Aransas. Over the next 10 years …

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Santander Bank to Pay $11.8 Million to Settle Auto Loan, Insurance Claims

Santander Consumer USA Holdings Inc., a leading subprime auto lender, will pay $11.8 million to settle claims that it misled customers about the cost and terms of auto loans and insurance, a U.S. consumer watchdog said on Tuesday. Santander Consumer, …

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Court: Travelers Insurer Off the Hook in Florida Hotel Chain Data Breach Suit

A U.S District Court in Florida’s ruling could have wide-reaching effects with respect to an insurer’s duty to defend commercial general liability policyholders in data breach cases resulting from the acts of third parties. The Sept. 28 decision came in …

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Gallagher Affinity Launches Online Cyber Suite for Small, Midsize Federal Contractors

Gallagher Affinity and Secure CyberID, a provider of cybersecurity services, have launched an online, discounted suite of cybersecurity products for small to mid-sized companies under contract with the federal government. The 360 Coverage Pros portal is designed to meet the …

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A.M. Best: Insurers Have Limited Exposure to PG&E Volatility from California Wildfires

Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to a daily briefing from A.M. Best. It was recently determined that a second power line of PG&E Corp. …

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Alera Group Acquires Orion Risk Management Insurance Services in California

Alera Group has acquired Orion Risk Management Insurance Services. Terms of the deal were not disclosed. Orion is a commercial insurance broker and risk management firm with three locations throughout Southern California. Deerfield, Ill.-based Alera Group provides employee benefits, property/casualty, …

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USG Names Gray Producer in Southern California

USG Holdings Inc. has named Ali Gray a producer/broker in the Irvine, Calif. branch. Gray will continue to build his book of business and assist with the expansion of USG’s West Coast footprint. He has 9 years of experience in …

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Minnesota Workplace Injury Rate Fell to an All-Time Low in 2017

Minnesota’s Department of Labor and Industry (DLI) in early November reported that the state’s estimated workplace injury and illness rate for 2017 is the lowest rate since the measurement started in 1973. According to the annual Survey of Occupational Injuries …

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Bank of England Pressures EU to Deliver No-Deal Brexit Fix for Financial System

The Bank of England turned up the pressure on the European Union to deliver legislation within weeks to avert a breakdown of access to London’s crucial financial infrastructure in a no-deal Brexit. “By early to mid-December, there would have to …

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Willis Towers Watson Announces Ganzi Will Succeed McCann as Board Chairman

Willis Towers Watson announced that James McCann will be succeeded as chairman of the board by Victor Ganzi, effective Jan. 1, 2019. McCann will complete his term as chairman three years after the merger of Willis and Towers Watson. He …

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Texas Surplus Lines Stamping Office to Launch ‘SMART’ Online Filing System in 2019

The Surplus Lines Stamping Office of Texas (SLTX) plans to launch “SMART,” its new online filing system in 2019. SLTX unveiled the new online system in a video presentation at the Texas Surplus Lines Association 2018 Annual Meeting in Austin …

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Credit Ratings of Wisconsin Mutual Insurance Upgraded

A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Wisconsin Mutual Insurance Co. (Wisconsin Mutual) in Madison, Wisconsin. The outlook of these ratings has …

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PG&E’s $1.4B in Wildfire Insurance May Not Be Enough, But Was ‘Regular Amount’

PG&E Corp.’s $1.4 billion in wildfire insurance may not be enough to cover all its potential liabilities from the deadliest blaze in California history. But the company wasn’t necessarily skimping on coverage. That level of coverage is a “regular amount” …

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Lawmaker in California Working on Fire Relief Legislation for PG&E

A bill that would help PG&E Corp. absorb liabilities from this year’s fatal wildfires in California is being drafted at the request of a state assemblyman who helped shepherd earlier legislation on the issue. Kellie Smith, an adviser to assemblyman …

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Texas Woman Sentenced for ‘Double Dipping’ on Workers’ Comp

A New Braunfels, Texas, woman must perform community service and pay more than $7,000 in restitution after being sentenced on workers’ compensation fraud charges. Texas Mutual Insurance Co. reported that Carolina Villanueva was sentenced in a Travis County district court …

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American Financial Group Hires Dunn as VP, Internal Audit

Cincinnati, Ohio-based American Financial Group Inc. (AFG) has hired Anthony W. Dunn as vice president, overseeing the internal audit function for the company and its subsidiaries. Dunn has 20 years of experience in the insurance and financial services industry. Prior …

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Reliance Partners Opens Austin Office, Names Richards Chief Sales Officer

Reliance Partners, which specializes in commercial insurance, has added Brandon Richards as chief sales officer and opened a new office in Austin, Texas. Richards is a veteran insurance professional with more than 17 years in the commercial transportation insurance space. …

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London’s Electronic Placements Exceed Targets; Beazley Syndicate 3623 Ranks #1

The London market’s electronic placing platform, PPL Ltd., exceeded targets during the third quarter as more and more syndicates and companies accepted risks via the platform. Beazley Syndicate 3623 topped the league table of those Lloyd’s syndicates that have embraced …

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New Jersey’s RT Specialty/New Day Appoints Reynolds as an Assistant Vice President

RT Specialty/New Day, a Hamilton, N.J.-based division of R-T Specialty LLC, has named Joe Reynolds as an assistant vice president in the National Environmental and Construction Professional Liability Practice (formerly New Day Underwriting Managers). In this role, he is responsible …

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Frenkel & Company Hires Nili to Join New York Operations

Frenkel & Company – an EPIC Company has hired risk management and insurance professional Tandis Nili to join its operations in New York as senior vice president and leader of the Global Services Division. Nili is based in Frenkel’s New …

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First Legal Pot Stores in Massachusetts Open at Same Time

The first two recreational marijuana stores in Massachusetts opened at the same exact time this week. A spokeswoman for Cultivate in Leicester said Saturday the store planned to move up its regular 10 a.m. start time to 8 a.m. on …

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Ryan Insurance & Financial Merges with S.S. Nesbitt Insurance in Florida

Ryan Insurance & Financial, a DeLand, Fla.-based independent insurance firm, has merged with S.S. Nesbitt Insurance, located in Clermont, Fla. The merger was finalized on October 1, 2018. Headquartered in Birmingham, Ala., with locations throughout the southeast, S.S. Nesbitt provides …

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Ironshore’s O’Brien Joins Ascot U.S. to Launch Environmental Business

Ascot has named environmental insurance veteran John O’Brien as executive vice president and head of Environmental. O’Brien will be responsible for launching an environmental liabilities and related specialty product business unit accessing both the admitted and excess and surplus capabilities …

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Corps Study Seeks Solution to Jefferson County Flooding

The U.S. Army Corps of Engineers is looking at solutions to the persistent problem of flooding in Jefferson County near downtown Birmingham, Ala. WBMA-TV reports that a three-year study by the agency will look at multiple options. County Commission President …

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CVS Acquisition of Aetna Expected to Close After Thanksgiving

CVS Health Corp. said on Tuesday that it expects to close its $69 billion purchase of health insurer Aetna Inc. after the Thanksgiving holiday. The pharmacy chain and benefits manager had previously expected the transaction to close by Nov. 22. …

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U.S. Court Affirms Dismissal of IPO Investors’ Claims Against Barclays

Barclays Plc is not liable to investors who bought its U.S.-listed stock a few months before the 2008 financial crisis and accused the British bank of hiding its risky debt exposure and a capital shortfall, a U.S. court ruled on …

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Lowell Joins The Hartford to Head Small Business Innovation Lab

The Hartford has appointed Christopher Lowell to lead its Small Business Innovation Lab, which will design and test new products and business models to meet the needs of The Hartford’s small business customers. “The lab is part of the company’s …

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Finnish Software Firm Basware Confirms Takeover Bid, Backed by Investors Including Ping An

Finnish software maker Basware confirmed the unsolicited takeover approach it received was from payment-technology startup Tradeshift Holdings Inc. The indicative proposal came from San Francisco-based Tradeshift, Basware said in a statement Tuesday in response to a Bloomberg News report. The …

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Prime Minister May’s Brexit Deal Has Fatal Defect: Opinion

Last week Theresa May unveiled her draft agreement with the European Union on the terms of Britain’s exit. The reaction was exactly as expected. Remainers despaired because the deal is so much worse than staying in the union — which …

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Commonwealth Bank of Australia CEO Blames Predecessor for Insurance Mis-Selling

Commonwealth Bank of Australia Chief Executive Officer Matt Comyn has pinned the blame on predecessor Ian Narev for failing to stop selling credit card insurance that some customers couldn’t claim on. Narev told Comyn to “temper your sense of justice” …

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Report Identifies P/C Insurance Companies with the Best Reputations

USAA Insurance has the highest and best overall reputation among insurers, according to a new report from the Reputation Institute. The insurer landed in the top spot based on criteria including strong reputation, relevancy, expressiveness (brand strength, informativeness, relevancy), products …

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AXA XL Buys 100% of New Ocean to Build Alternative Capital Business

AXA XL’s reinsurance operation has completed the acquisition of all third party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Ltd. New Ocean is now a wholly owned subsidiary within AXA XL’s alternative capital business, under …

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Brexiteer Plot to Oust UK Prime Minister May Falters

Evidence is mounting that the plot to oust U.K. Prime Minister Theresa May is faltering. To trigger a vote of no confidence in her leadership, a total of 48 Conservative lawmakers need to submit letters, texts or emails calling for …

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How Insurance Market Will Expand in Age of Autonomous Vehicles

Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is expected to recover through new lines of coverage, according to a report by …

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Florida Picks Up the Pieces from Powerful Hurricane Michael

It has been just over a month since Hurricane Michael slammed the Florida Panhandle as a Category 4 hurricane with wind speeds reaching just shy of Category 5 status. The devastation from the storm that killed at least 35 people …

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Keating Expands Property Coverage Options with Monoline, Package Product

Keating, Inc., a specialty property and casualty wholesale intermediary and program manager, has launched a new in-house monoline property package product. The new program features the monoline property coverage as well as package capabilities including general liability and equipment breakdown …

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S&P Upgrades Outlook for CNA Group

CNA Group gained an outlook upgrade from Standard & Poor’s based on improvement of its commercial lines business. S&P Global Ratings revised its outlook for CNA to positive from stable. The ratings agency also affirmed its “A” long-term issuer credit …

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United Valley Adds IWV in California Maki in Arizona

United Valley Insurance Services Inc. has added IWV Insurance Agency LLC of Ridgecrest, Calif., and Maki Insurance Group of Anthem, Ariz. IWV offers personal and businesses insurance services throughout California. Maki Insurance offers personal, commercial and life/health insurance services. United …

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Topa CFO Morrison to Retire, Genalo Named Successor of California Company

Calabasas, Calif.-based Topa Insurance Group announced that Cynthia Morrison, senior vice president and chief financial officer, will retire. Morrison is retiring effective Jan. 31, 2019. Lawrence Genalo, assistant vice president of financial planning and analysis, has been named is replace …

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Missouri’s Lindley-Myers Elected Treasurer of Interstate Insurance Product Regulation Commission

Missouri Director of Insurance Chlora Lindley-Myers has been elected treasurer of the Interstate Insurance Product Regulation Commission (IIPRC). The Insurance Compact also selected Ohio Insurance Director Jillian Froment as chair and Rhode Island Insurance Superintendent Beth Dwyer as vice chair. …

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3 Louisiana Parishes Designated USDA Natural Disaster Areas

The U.S. Department of Agriculture (USDA) has designated three Louisiana parishes as contiguous disaster areas as the result of excessive rain and flooding that occurred April 1 to June 30, 2018, according to Agriculture and Forestry Commissioner Mike Strain, D.V.M. …

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Reiter Named Deputy General Counsel at Oklahoma Insurance Department

Oklahoma Insurance Commissioner John D. Doak has appointed Ron Kreiter as deputy general counsel at the Oklahoma Insurance Department (OID). Kreiter previously worked at the OID from 1980-1987 as an assistant commissioner and staff attorney. He brings with him more …

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North Dakota Oil Industry Pushing to Loosen Crude Oil Safety Rules

North Dakota oil industry leaders are pushing to loosen the state’s oil conditioning regulations, but an environmental group is arguing to tighten rules. The North Dakota Industrial Commission is considering changing regulations adopted nearly four years ago to make Bakken …

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School’s Insurer to Cover Michigan Runner’s $4.5M Injury Lawsuit Settlement

A runner who sued his Michigan high school cross-country coach after he was severely injured during a dark early-morning practice has settled the case for $4.5 million. In 2011, Kersch Ray was a 13-year-old member of the Chelsea High School …

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Texas’ Hochheim Mutual Insurers Removed From Credit Watch Negative

S&P Global Ratings has removed Texas-based Hochheim Prairie Farm Mutual Insurance Assn. (HPFMIA) and its subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC, collectively Hochheim) from CreditWatch Negative, where the companies were initially placed on Nov. 28, 2017. S&P Global Ratings …

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Woman Sues Hospital in New Mexico for Resuscitating Her

A New Mexico woman who was brought back to life is suing the hospital for violating her rights. The Albuquerque Journal reports lawyers for Jamie Sams filed a lawsuit last week in New Mexico state district court against Santa Fe’s …

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Latest Estimate of Insured Losses from California Wildfires at $9B to $13B

New estimates for insured losses from the Camp and Woolsey wildfires in California will be between $9 and $13 billion, according to catastrophe modeler RMS. RMS’ latest estimates released on Monday show $7.5 billion to $10 billion for the Camp …

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PG&E Says There Was Another Outage on Morning of California Wildfire

California utility PG&E Corp , facing investor concerns over its possible role in the deadly Camp Fire in Northern California, has reported another power-line outage that it experienced on the morning of Nov. 8 when the blaze started. The incident …

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Willis Towers Watson Launches Cyber Solution for Airports

In response to cyber and digital risk being identified as the top concern facing airports today¹, Willis Towers Watson has introduced CyFly for Airports, an insurance solution specifically tailored to cover cyber exposures affecting airports around the globe. CyFly is …

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Winter Storm Packs Snowy, Icy Punch in Pennsylvania, Making Roads a Mess

Pennsylvanians have dealt with their first taste of wintry weather this season, and the storm brought much more snow than predicted, making roads around the state icy and treacherous. A meteorologist told the Allentown Morning Call the storm was “an …

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Thousands of Homes Still Lack Gas Service after Massachusetts Blasts

The company at the center of the natural gas explosions in Massachusetts in September says it has restored gas service to about 60 percent of affected homes, but nearly 1,760 families remain in temporary housing. The Sept. 13 blasts in …

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Flood Insurance Program to Expire Nov. 30 Unless Congress Acts

Once again the fate of the nation’s flood insurance program is coming down to the wire. Authorization for the program is set to expire Friday, Nov. 30 unless Congress acts. The most likely action will be another short-term extension. Sens. …

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Head of Connecticut Crumbling Foundations Entity Concerned About Funding Delay

The superintendent of the new entity charged with distributing millions of dollars to Connecticut homeowners with crumbling foundations says he’s within weeks of shutting down if state bonding isn’t released. Michael Maglaras told members of several legislative committees on Friday …

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Danske Bank Whistleblower Says U.S., European Banks Helped Launder Money

The whistleblower who revealed suspected money laundering involving Danske Bank said on Monday that two major U.S. and one European banks were among several which had helped process suspicious payments. Payments totaling 200 billion euros ($228.5 billion) made through Danske …

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Explaining Danske Bank’s €200 Billion Money Laundering Scandal

Danske Bank has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark’s biggest bank to the problem, testified before the Danish parliament on Monday. HOW BIG A SCANDAL IS THIS? …

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Brit Launches Sussex Capital UK

Brit Ltd., the specialty insurer and reinsurer, announce the launch of Sussex Capital UK PCC Ltd., a new multi-arrangement insurance special purpose vehicle (MISPV). Sussex Capital UK is the first transformer vehicle to be given permission by the Prudential Regulation …

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China’s Ping An Invests $47M in German Fintech Incubator Finleap

Ping An Insurance Group Co., China’s biggest insurer by market value, led investors in injecting 41.5 million euros ($47 million) into Germany’s Finleap GmbH in its latest round of funding. The Chinese behemoth’s $1 billion-Global Voyager Fund led the investment …

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China Eyes Allowing Foreign Insurers to Own Local Joint Ventures: Sources

China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator …

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AutoNation On-Demand Used Car Subscription Service Bundles Maintenance, Insurance

AutoNation Inc., the country’s largest automotive retailer, has announced a partnership with Fair, a digital subscription service, that will allow consumers to lease used vehicles on a month-to-month basis rather than buying them. Consumers can shop and sign for a …

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CREST Insurance Group in Arizona Names Baena President of Employee Benefits

CREST Insurance Group LLC of Arizona has named Cristina Baena president of the employee benefits division. Baena will be overseeing 32 employees from the Tucson, Scottsdale, Sierra Vista, Flagstaff, as well as San Diego, Calif., and Denver, Colo., office locations. …

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State Insurance Regulators Elect Maine’s Cioppa President of NAIC for 2019

State insurance regulators have elected new officers of the National Association of Insurance Commissioners (NAIC). The following officers will assume their duties on Jan. 1, 2019: President: Maine Insurance Superintendent Eric A. Cioppa. Cioppa joined the Maine regulatory bureau in …

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Medical Professional Liability Insurers Post Underwriting Loss Again

U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For the second consecutive year, the medical …

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What Agents Should Know About Cryptocurrency Insurance Market

Cryptocurrency and blockchain entities may seem like a hot market for insurance agents looking to specialize, but right now there are not many insurers willing to write it. Before jumping in, agents would be wise to consider partnering with a …

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28 Streamflow Records Broken in Carolinas by Hurricane Florence Floods

A federal report shows Hurricane Florence broke records in a key flooding measure at more than two-dozen stream gauges in the Carolinas. The U.S. Geological Survey released a report Nov. 13 on streamflow, which measures how much water passes a …

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Judge Says Tennessee Waffle House Shooting Suspect Liable in $100M Death Suit

A judge says the man charged with killing four people at a Tennessee Waffle House is liable in a $100 million wrongful death lawsuit filed by a victim’s mother. News outlets report a Davidson County Circuit Court judge found 29-year-old …

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At Least 1K Doctors in Georgia Have Yet to Register for Opioid Monitoring Program

About 1,100 doctors in Georgia have not signed up for a program to monitor opioid use. The Atlanta Journal-Constitution reported doctors were supposed to sign up by Jan. 1 for the state’s prescription drug monitoring program. The doctors were supposed …

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$8.6B Worth of Homes at High or Extreme Risk from California Fires

A report out on Friday shows 23,044 homes with a total reconstruction cost value of $8.6 billion are at high or extreme risk of wildfire damage within the perimeters of the Camp Fire in Northern California and the Woolsey Fire …

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Delle Joins Missouri’s Town and Country Insurance Agency

Troy, Missouri-based Town and Country Insurance Agency has hired Angie Delle as a Medicare specialist and producer. Delle will handle everything from Centers for Medicare & Medicaid Services (CMS) compliance and field underwriting to customer service and personal insurance reviews. …

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Early Snowstorm Shuts Down Schools, Businesses in Eastern Missouri

Snow arrived early in eastern Missouri this year, forcing hundreds of schools and many businesses to close on Nov. 15 and causing numerous traffic accidents. The snowstorm moved into the region Wednesday night and had dumped 4-6 inches (10-15 centimeters) …

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Leicht Elected President of Texas Surplus Lines Association

At its recent annual meeting, the Texas Surplus Lines Association Inc. elected Matt Leicht, owner/underwriter at the Houston-based wholesale insurance firm, Craig & Leicht, as the group’s president. Jennifer Mier, executive vice president with AmWINS Group in Dallas, was named …

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UK Prime Minister Defiantly Battles to Save Brexit Divorce Deal – and Her Job

British Prime Minister Theresa May won the backing of the most prominent Brexiteer in her government on Friday as she fought to save a draft European Union divorce deal that has stirred up a plot to force her out of …

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Michigan Man Sentenced to Prison for Stage Auto Crash Fraud Scheme

A Michigan man who pled guilty to participating in a multi-state staged auto accident/insurance fraud scheme has been sentence to prison, according to the United States Attorney’s Office. Marvin David Ramirez, 45, of Grand Rapids, Michigan, was sentenced to 37 …

from News – Insurance Journal https://ift.tt/2Frx2XX
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