Chemours Suit Claims DuPont’s Clean-Up Liability Estimates ‘Spectacularly Wrong’

Chemours Co. claims its former parent DuPont Inc.’s estimates on liabilities the spun-off company should cover were “spectacularly wrong” and wants a judge to block the chemical maker’s requests for “unlimited indemnity.” A Delaware judge on Friday unsealed a lawsuit …

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Anxiety, Policy Limits Rising Ahead of California’s Sweeping Data Privacy Law

Robert L. Wallan’s clients are keeping him quite busy as they fret about the implementation next year of the nation’s most far-reaching data privacy law, which gives California consumers more control over their personal data. Wallan, a partner in Pillsbury …

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12 Miami School Bus Employees Arrested in $427K Insurance Fraud Scheme

Twelve current and former Miami-Dade School District school bus employees were arrested last week for allegedly filing fraudulent insurance claims totaling $426,933, according to a statement from Florida CFO Jimmy Patronis. The bus drivers and aides are accused of using …

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Suit Alleges Dangerous Conditions Caused Death at Atlanta Braves Stadium

The widow of a beer tap inventor who died inside a walk-in cooler at the Atlanta Braves’ stadium is blaming a faulty door mechanism and lethal carbon dioxide leaks. Angela Keeling made the allegations in a wrongful death lawsuit filed …

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OSHA Fines Florida Zoo $14.5K Over Worker Injured by Rhino

A Florida zoo has been fined more than $14,500 after a worker was injured by a 4,000-pound (1,800-kilogram) white rhinoceros earlier this year. The Florida Times-Union reported June 25 that the U.S. Department of Labor’s Occupational Safety and Health Administration …

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InsuraGuest, Venture Insurance to Offer Accident, Property Coverage to Hotel Guests

InsuraGuest, Inc. has partnered with Venture Insurance Programs to provide U.S. hotels with specialized insurance coverage for guests who are staying in the hotel utilizing InsuraGuest’s insurtech software. InsuraGuest’s API integrates with approximately 70 different hotel property management systems, with …

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North Carolina House Approves Safety Rules for Ridesharing Companies

New rules for drivers of ridesharing companies like Uber and Lyft operating in North Carolina have cleared the state House. The bill approved unanimously on Thursday is considered a safety measure following the March death of a university student in …

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Company in Fatal Biker Crash in New Hampshire Has History of Violations

The company that employed a Ukrainian-born truck driver whose collision with motorcyclists in New Hampshire left seven dead has a history of violations including mechanical problems and drug-related infractions. Volodymyr Zhukovskyy, 23, is being held without bail in Coos County …

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Massachusetts’ Fred C. Church Insurance Hires Lonsdale

Fred C. Church Insurance has hired Ian Lonsdale as an Employee Benefits client executive. The main focus of the Employee Benefits division at Fred C. Church is to serve and support its commercial clients. Utilizing five areas of expertise – …

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Bayer Shareholders React Positively About Plan to Resolve Glyphosate Lawsuits

Bayer shares jumped on Thursday after it revealed plans aimed at resolving multi-billion dollar lawsuits linked to glyphosate, a move welcomed by activist shareholder Elliott, which has taken a sizable stake in the chemicals company. Shares in the German group, …

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Specialist Re/Insurer Apollo Taps Steeds from XL Catlin as Political Risk U/W

Lloyd’s managing agency Apollo Syndicate Management has appointed William Steeds as senior political risk underwriter for Syndicate 1969, effective immediately. He reports to Chris King, head of crisis management at Apollo. Steeds joins Apollo with more than 20 years’ experience …

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S. Africa Insurer Discovery Opens Bank, Challenging Traditional Lenders

It took Discovery Ltd. 1.5 million man hours over four years to build a bank. When the startup opens to the public Monday it will challenge South African lenders with histories going back to 1838, and they’re ready for battle. …

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JBA Risk Management and FloodFlash Launch Parametric Flood Policy in UK

JBA Risk Management and FloodFlash have formed a partnership to provide event-based flood insurance, which uses parametric triggers for property exposures. The product is an industry first and will provide bespoke insurance for policyholders in frequently flooded areas who have …

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Blast of Hot Air from Sahara Triggers Record Heatwave Across Europe

Europeans fought to stay cool as a blast of hot air from the Sahara desert sent temperatures to records in large parts of the continent and whipped up concern about climate change. Germany imposed speed restrictions on usually limit-free stretches …

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China Creates Insurance Group to Take Over Troubled Insurer Anbang

China has created the new insurance group set to take over the main operations of Anbang Insurance Group Co., the once-acquisitive conglomerate that’s under state control. Beijing-based Dajia Insurance Group, which was established on June 25, has 20.4 billion yuan …

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Fire Destroys Furniture Building, Warehouse in Mississippi

Investigators are trying to determine what started a fire that destroyed a building in north Mississippi that houses a furniture business and storage for a refrigerator maker. No injuries were reported in the fire Wednesday in New Albany. The Northeast …

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West Virginia Medical Marijuana Program Could Take Years to Roll Out

West Virginia patients and caregivers waiting for the state’s medical cannabis program to officially start in July shouldn’t expect their program cards or physicians certificates anytime soon. The Dominion Post reports that the state has had little time to prepare …

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Cyber Risks Are Jeopardizing M&A Deals

Cybersecurity issues are increasingly becoming a concern in mergers and acquisitions, a new survey shows, and lapses can jeopardize deals or haunt purchasers long after the deal is done. Of more than 2,700 information technology and business decision makers surveyed …

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TATA Group’s Fitzsimons Joins AIG as Shared Services Global Chief

American International Group announced that Shane Fitzsimons is joining the company as global head of Shared Services. This is a newly created role at AIG that establishes a single point of accountability for key operational and financial capabilities across the …

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Uncertainty Follows Grief When Small Business Owners Die Without Succession Plans

When Jim McLaughlin died suddenly from a heart attack at age 64, his family assumed they would have to close his homebuilding business. He’d made no plans for someone to succeed him at McLaughlin Construction, and there was no employee …

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How Insys Bankruptcy Case Could Alter Fate of Thousands of Opioid Lawsuits

The fate of thousands of lawsuits seeking to hold drugmakers responsible for fueling the U.S. opioid epidemic hinges in part on a thorny legal question: Can a company can use a bankruptcy to stop lawsuits from cities and states? U.S. …

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Poll Shows Renters Are Confused About Security and Insurance Coverage

Renters are not taking enough precautions to protect their property and valuables and may actually be alerting would-be burglars that their homes are unoccupied, a new survey finds. While fewer home renters (41%) posted news of their vacation on social …

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Scooter Riders Urged to Beware of Insurance Pothole

We’ve all seen reports about head injuries, traffic accidents and even deaths that electric scooter riders have suffered as the popular new mobility option has pushed onto the streets in more than 100 cities worldwide. Despite the dangers, riders are …

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U.S. Jury Finds Huawei Stole Silicon Valley Startup’s Trade Secrets

A federal jury in Texas has ruled that Huawei stole trade secrets from a Silicon Valley startup, but it didn’t award any damages. After a three-week trial, jurors in U.S. District Court in Sherman, Texas, determined Wednesday that while Huawei …

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Cavignac & Associates in California Names French Employee Benefits Account Administrator

San Diego, Calif.-based Cavignac & Associates has added Denise French to its employee benefits team as an account administrator for special projects. French serves as the primary customer service person for enrolled members. She has five years of experience in …

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XS Brokers Hires Delmonico-Long, Hall to Florida Business Development Team

XS Brokers (XSB), an independent insurance underwriting and wholesale brokerage group, has hired Michelle Delmonico-Longo as Business Development manager and David Hall as senior vice president, Business Development for the Florida region. According to Lori Ault, executive vice president and …

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Attorney Says Young Girl Hit During Astros Game Had Skull Fracture

An attorney for the family of a 2-year-old girl struck by a foul ball during a game last month between the Chicago Cubs and Houston Astros said that the girl suffered a skull fracture. Attorney Richard Mithoff provided the first …

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Lawsuit: Workers at Iowa Pork Processor Fired for Work Conditions Complaints

Three workers have sued an Iowa pork processor they said fired them in retaliation for filing complaints about working conditions and talking with state health officials. Luis Aceves, Jose Moreno and Jose Magana filed three separate lawsuits last week against …

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Indiana Court: IBM Owes State More Than $70M in Automation Dispute

Indiana’s Supreme Court has decided IBM Corp. must pay the state more than $70 million over the company’s failed effort to automate much of the state’s welfare services. The court ruling upholds lower court rulings in the case that began …

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Insurance to Pay Most of Minnesota Diocese’s $34M Settlement with Abuse Victims

The Diocese of New Ulm in Minnesota has reached a $34 million settlement in its bankruptcy case with 93 people who say they were sexually abused by priests and others, the diocese and an attorney representing survivors said. Attorney Jeff …

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Sinkhole in North Carolina Parking Lot Reaches 27-Feet and Growing

A 27-foot (8 meter) long and 20-foot (6 meter) deep sinkhole continues to expand in a North Carolina parking lot. The sinkhole is about half the size of a tractor-trailer and about as deep as a giraffe’s height – and …

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With Governor’s Signature, Illinois Is 11th State to Legalize Recreational Marijuana

Illinois’ new governor delivered on a top campaign promise by signing legislation making the state the 11th to approve marijuana for recreational use in a program offering legal remedies and economic benefits to minorities whose lives critics say were damaged …

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High Street Acquires Assets of Michigan’s Tompkins Insurance Agency

High Street Insurance Partners (High Street), a provider specialty commercial property/casualty insurance, employee benefits services and personal lines, has acquired the assets of the Tompkins Insurance Agency (TIA), an independent insurance firm. Based in Traverse City, Michigan, TIA provides specialized …

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Complacency Cited in Fatal 2017 Washington Train Crash

The vice chairman of the National Transportation Safety Board in the final report on a deadly Amtrak derailment in Washington in 2017 blasted what he described as a “Titanic-like complacency” among those charged with ensuring train operations were safe. The …

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Online Marketplace EverQuote Enters Health and Renters Insurance Markets

One year after its initial public offering raised $84 million, online insurance marketplace EverQuote announced it is expanding into health insurance and renters insurance, building on its existing auto, home and life insurance marketplace offerings. The Cambridge, Mass.-based company says …

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Global Insurance Accounting Rules Under IFRS17 to Be Amended

An international standard setting body has proposed a one-year delay and changes to the first global accounting rule for insurance contracts following industry calls for a cut in compliance costs and more time. The International Accounting Standards Board (IASB) published …

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Official Says Driver in New Hampshire Motorcycle Wreck Should’ve Lost License

The head of the Massachusetts motor vehicle division has resigned for failing to terminate the commercial driving license of man whose collision with a group of motorcyclists in New Hampshire left seven dead. Volodymyr Zhukovskyy, 23, on Tuesday pleaded not …

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Couple Suing Maryland Town for Negligence Over Tram Accident

A Maryland woman who says a tram dragged her along the Ocean City boardwalk is suing the popular vacation town for negligence. Mona and Gregory Jones are seeking $75,000 in response to the September 2017 accident. Court documents state Mona …

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New Jersey Failing to Put Out Required Pollution Reports, AP Finds

New Jersey’s environmental regulators have failed for nearly a decade to meet a legal requirement they provide a detailed written account for each year of enforcement actions against polluters of state waterways, the Associated Press has found. The Clean Water …

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Delaware Data Breach Impacts 95K Residents

The Delaware Department of Insurance recently received notice of a data security breach suffered by Dominion National, an insurer and administrator of dental and vision benefits, that impacted 95,000 Delaware residents. On April 24, 2019, through its investigation of an …

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CNA’s Mizzi Joins AIG’s Blackboard Insurance as Head of Underwriting

Blackboard Insurance, an American International Group company, announced that John Mizzi will join the team as head of Growth and Underwriting. Mizzi will lead the underwriting team as Blackboard expands its use of data, analytics and technology to serve the …

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U.S. P/C Insurers’ Net Income Increased 69% in 2018: A.M. Best

The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and higher net investment income, ratings agency A.M. Best …

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Supreme Court Scales Back Doctrine Giving Deference to Regulatory Agencies

The U.S. Supreme Court on Wednesday constrained the power of federal agencies, scaling back a legal doctrine that calls for judges to give agencies deference to interpret their own rules but declining to eliminate it as four conservative justices wanted. …

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Wegener to Succeed Willaert as President of FERMA

The Federation of European Risk Management Associations (FERMA) has chosen as its next President Dirk Wegener, global head of Corporate Insurance for Deutsche Bank Group and a member of the German risk management association GVNW. Wegener, who is currently deputy …

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Sweltering Heatwave in Germany Sparks Wildfires, Forces Speed Cuts on Autobahn

A blistering heatwave prompted Germany to impose speed restrictions on usually limit-free stretches of its high-speed motorways Wednesday, the latest sign of extreme weather events ruffling Europe’s largest economy. State authorities are reducing speeds to as low as 100 kilometers …

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Moody’s Partners with Israel’s Team8 to Create Cyber Risk Index for Businesses

Ratings agency Moody’s Corp. and Israeli cyber group Team8 launched on Thursday a joint venture to assess how vulnerable businesses are to cyber attacks and create what they hope will become a global benchmark. Cyber attacks are in focus after …

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Higginbotham Named Swiss Re’s CEO Reinsurance Asia, Replacing Plunkett

Swiss Re announced that Russell Higginbotham has been appointed CEO Reinsurance Asia and regional president, effective July 8, 2019, and subject to necessary regulatory approvals. He is succeeding Jayne Plunkett, who has decided to pursue career opportunities outside Swiss Re. …

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Swiss Re’s UK Unit ReAssure to Be Valued at up to $4.2B in IPO

UK life assurance business ReAssure will be valued at up to 3.3 billion pounds ($4.2 billion) when it floats on the London Stock Exchange, its largest shareholder Swiss Re said on Thursday. Swiss Re, the world’s second-largest reinsurance company, set …

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Michigan Democratic Leader Says Businesses, Heavy Trucks Must Fix Roads

With Republicans firmly opposed to a 45-cents-a-gallon fuel tax hike, Democratic lawmakers want businesses to do more to help fix the roads. A new $1.2 billion proposal from House Democrats would raise the state’s corporate tax, create a new 6-cents-a-mile …

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National Weather Service Confirms Rare West Virginia Tornado

The National Weather Service says storm-related damage indicates that a rare tornado touched down in West Virginia. The weather service tweeted that a tornado hit the Alum Creek area Monday night along U.S. Route 119 southwest of Charleston. A survey …

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What Passed, What Didn’t: New Florida Laws Taking Effect July 1

The Florida Legislature looked at and passed many pieces of legislation in the 2019 session that will impact the insurance industry. The following are summaries of what passed — and what didn’t. What Passed HB 7065 – AOB Reform Provides …

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Discovery of New Risk with Boeing 737 to Prolong Grounding

The U.S. Federal Aviation Administration has identified a new risk that Boeing Co. must address on its 737 MAX before the grounded jet can return to service, the agency said on Wednesday. The risk was discovered during a simulator test …

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Georgia Court: Insurer Can’t Deny Coverage Despite Misinformation on Application

An insurer that extended its workers’ compensation coverage for 90 days after discovering the employer had violated the terms of its policy could not then deny coverage for a claim on the grounds that those terms had been violated, the …

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Washington State Utility Caused Fatal Fire, Lawsuit Contends

The family of a Washington man who died in a house fire has filed a lawsuit against a public utility. The Everett Herald reported that the family of 93-year-old Glen Allen filed the wrongful death lawsuit against the Snohomish County …

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Jump in Western U.S. Wildfires Means Smoke’s Health Impact Will Spread

Climate change in the Western U.S. means more intense and frequent wildfires churning out waves of smoke that scientists say will affect tens of millions of people and cause premature deaths to spike. That’s prompting people in cities and rural …

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Bondholders Propose Bankruptcy Exit Plan Up to $30B for PG&E

A committee of bondholders of PG&E Corp.’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires. …

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AIR Expands Europe Inland Flood Model, Updates UK Storm Surge Analysis

Catastrophe risk modeling firm AIR Worldwide announced it has released an expanded inland flood model for Central Europe to include the country of Poland in its model domain. AIR also announced that it has updated the storm surge component of …

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Student Loan Help, Paternity Leave, Telemedicine, Standing Desks: Tailoring Benefits to Multigenerational Workforce

While the United States’ stable job market and regulatory environment have kept employee benefits offerings steady, some benefits such as student loan repayment, paternity leave, telecommuting, standing desks and telemedicine are gaining notable upward traction. Companies are researching on their …

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Purdue’s Sackler Family Must Face Opioid Suits in New York

The billionaire owners of Purdue Pharma LP must face a New York lawsuit claiming they triggered the U.S. opioid epidemic, a judge ruled, handing an early victory to states and local governments seeking to recoup billions of dollars in social …

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Beazley Snares Cyber Underwriters from Chubb, Gallagher for U.S. Regions

Specialty insurer Beazley has hired two cyber and technology underwriters in the U.S. to meet growing demand from middle market businesses for insurance cover for cyber, data security and privacy exposures. Jennifer Lushbough Beard joins Beazley from Chubb where she …

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Judge Open to ‘Novel’ Idea of Local Government Class for Opioid Settlement Talks

A judge backed a push by U.S. cities and counties suing opioid makers such as Purdue Pharma LP and Johnson & Johnson to negotiate a settlement as a group but put off until August a final decision on the request. …

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New York City Uber Driver Gets Three Years for Kidnapping Sleeping Passenger

A man who drove for Uber in New York City has been sentenced to three years in federal prison for abducting a woman who fell asleep inside his vehicle. A judge Monday also ordered Harbir Parmar to pay more than …

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High School Student Sued for Activating Virginia Hotel Room Sprinkler

A hotel’s insurance company has sued a high school student it claims caused more than $690,000 in damage by activating a sprinkler inside one of its rooms. The Virginian-Pilot reports Landstown High School senior Cade Anderson stayed at the hotel …

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Philadelphia Refinery Fire Out, Probe into Cause of Blaze to Begin

A fire in a Philadelphia refinery struck by explosions and a pre-dawn blaze last week has now been extinguished as an investigation is launched into what caused it, authorities said. The blaze at the Philadelphia Energy Solutions Refining Complex, the …

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BHSI Names QBE’s Walker as UK Head of Customer and Broker Engagement

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its team in the UK with the appointment of Mark Walker as head of Customer and Broker Engagement. “I’m extremely pleased to have Mark leading our efforts to expand our broker …

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Arthur J. Gallagher to Acquire Minority Stake in Prague-Based Broker Renomia

Arthur J. Gallagher & Co. announced it has signed an agreement to purchase a minority stake in Prague-based Renomia. The deal is subject to regulatory approval and is expected to close in the third quarter of 2019. Financial details of …

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Global Telecoms Have Lost Vast Data to Chinese Hackers Over 7 Years, Cybersecurity Firm Reports

Hackers broke into the systems of more than a dozen global telecom firms and stole huge amounts of data in a seven-year spying campaign, researchers from a cyber security company said, identifying links to previous Chinese cyber-espionage activities. Investigators at …

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Lloyd’s Underwriters Form $67.5M Facility to Insure Complex, Emerging Risks

A group of Lloyd’s underwriters have launched a new facility with £53 million ($67.5 million) of capacity, which is designed to speed up re/insurance product development for today’s new and emerging risks. The Product Innovation Facility is led by senior …

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Ex-AIG Employees, Seeking Back-Bonuses of $100M, Win British Court Ruling

A group of former traders and managers at American International Group Inc. won a London judge’s backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn’t put forward …

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Jury Awards $3M-Plus in Michigan Misdiagnosed Epilepsy Case

A Michigan jury has awarded more than $3 million to a woman who was misdiagnosed with epilepsy, one of hundreds of people to accuse a Detroit-area doctor of misreading tests to enrich himself and his employer. Dr. Yasser Awaad was …

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Senators Eye Making Tech Giants Reveal How Much Customers’ Data Is Worth

As Congress bears down on big tech companies, two senators want to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The legislation floated this week by Sens. …

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Data-Driven Insurance Future Clouded by Data Ownership Uncertainty

Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out who owns the data. Presentations …

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Porsche Auto Maker Offers Mileage-Based Auto Insurance in 2 States

Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding …

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Florida Keys to Receive $21M for Hurricane Irma Recovery

Officials say the Florida Keys will receive $21 million for Hurricane Irma recovery, along with $35 million for affordable housing. Gov. Ron DeSantis announced the money during a Thursday news conference in Marathon. The $21 million comes from the Florida …

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North Carolina, Feds to Purchase 24 Generators for Use During Storms, Disasters

North Carolina and the federal government are paying over $1.4 million for 24 generators and other help so communities can keep the power on at public infrastructure during storms and disasters. The money will go mostly toward generators, with the …

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Kentucky Looks to Encourage Insurtech Investments Through Regulatory ‘Sandbox’

The Kentucky Legislature has passed the first state law in the U.S. providing comprehensive framework for an insurance regulatory “sandbox” for insurance technology products. The new regulatory sandbox, which will be administered by the Kentucky Department of Insurance (DOI), allows …

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Specialty Broker Ed Expands to Bermuda

Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda will provide its multiline broking services through TradEd, its proprietary trading platform. Opening in Bermuda underpins …

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Vote Expected on Federal Funds to Test Connecticut Crumbling Foundations

Federal legislation that sets aside $4 million in federal funds to study the effects of the mineral pyrrhotite on concrete aggregate has advanced in the U.S. Congress. Democratic U.S. Joe Courtney, whose eastern Connecticut district includes homeowners with basements crumbling …

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World Insurance Associates Acquires New Jersey’s Links Insurance Services

World Insurance Associates LLC (WIA), an independent insurance agency headquartered in Tinton Falls, N.J., has acquired Links Insurance Services LLC of Wall, N.J., on June 13, 2019. Links Insurance Services LLC was established in October 2001. The agency seeks to …

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Report Says Major Hurricane Could Cost Virginia $40B

Experts say that southeastern Virginia could suffer $40 billion in losses if it’s struck by a major hurricane. Professors from Old Dominion University said in a recent report that the damages could seriously puncture the regional economy. The June 12 …

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Tokio Marine Puts UK Insurer into Run-Off, Focusing on Lloyd’s Business

Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be taken in two parts: TMKI’s …

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Insurance for Middle East Oil Shipments Soars to More Than $500,000

The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the …

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Santander Pays $1.1B to Replace Allianz with Aegon, Mapfre in Spain Joint Venture

Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …

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Oklahoma Judge Approves Revised $85M Opioid Settlement With Teva

An Oklahoma judge has approved a revised $85 million settlement with Teva Pharmaceutical Industries Ltd. resolving claims by the state’s attorney general that the drugmaker helped fuel the U.S. opioid epidemic. The decision by Cleveland County District Judge Thad Balkman …

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Credit Rating of Federated Rural Electric Insurance Exchange in Kansas Upgraded

AM 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 Federated Rural Electric Insurance Exchange (Federated Rural) in Lenexa, Kansas. The outlook for the …

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Chicago Cargo Company to Pay $135K to Settle EEOC Harassment, Retaliation Suit

Federal officials say a Chicago-based cargo handling company will pay $135,000 to settle a sexual harassment and retaliation lawsuit. Alliance Ground International, a cargo handling company that performs cargo, mail and ramp handling services for multiple clients at several major …

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Federal Disaster Assistance Approved for 6 More Oklahoma Counties

Oklahoma Gov. Kevin Stitt says six more counties in the state have been approved for disaster assistance by the Federal Emergency Management Agency. Stitt announced on June 20 that individuals and business owners affected by severe storms since May 7 …

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Mississippi Floodgate Opened Again to Drain Delta

A floodgate in Mississippi has reopened as the Mississippi River falls, allowing a months-long flood in parts of the Mississippi Delta to begin draining. The U.S. Army Corps of Engineers says it opened the Steele Bayou floodgate north of Vicksburg …

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Ironshore Environmental Adds Contractors Pollution Liability Product to Online Portal

Ironshore Environmental has streamlined its Contractors Environmental Legal Liability (CELL) policy to be underwritten by broker partners through its online Quote & Bind Portal. The Ironshore CELL product responds to third party bodily injury, property damage and remediation of environmental …

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Signal Mutual, Trident to Offer Workers’ Comp for Marine Industry in Texas & Louisiana

Signal Mutual, a nationwide provider of Longshore and Harbor Workers’ Compensation Act coverage, has partnered with Trident Marine Managers (TMM), a unit of Ryan Specialty Group to offer workers’ comp coverage to waterfront employers in Texas and Louisiana. Under the …

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Tokio Marine Looking for Insurance Acquisitions in Asia, Other Markets

Tokio Marine Holdings Inc. is seeking acquisition opportunities in Asian emerging markets and elsewhere as it seeks to double profits from those regions, according to the new chief of Japan’s largest property-and-casualty insurer. “We have group companies in Southeast Asia …

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JetBlue Lawsuit Claims Walmart Violates Its Trademark with Jetblack Service

JetBlue Airways Corp. has sued Walmart Inc. for trademark infringement, in an effort to stop the world’s largest retailer from using the name Jetblack for its text-based personal shopping service. In a complaint filed on Friday night, JetBlue said Jetblack …

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Supreme Court to Hear Fight Over $12 Billion Obamacare Payments to Insurers

The U.S. Supreme Court on Monday agreed to decide whether insurers can seek $12 billion from the federal government under a program set up by the Obamacare law aimed at encouraging them to offer medical coverage to previously uninsured Americans. …

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Supreme Court Offs Ban on Foul Language Trademarks

The Supreme Court on Monday struck down a longstanding U.S. ban on trademarks on “immoral” or “scandalous” words and symbols, ruling in a case involving a clothing brand with an indelicate name that the law violates constitutional free speech rights. …

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Lloyd’s Suspends Broker Over Harassing Email

Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who forwarded the message outside …

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Trump Moves to Force Hospitals, Insurers to Disclose Prices

The Trump administration took a step toward making paying for health care more like paying for coffee, computers or clothing, by letting patients know prices up front — but what consumers could do with that information once they have it …

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Sinkhole Shuts Down Part of Major Florida Interstate

Parts of busy Interstate 75 was shut down in Florida after a sinkhole opened up. The southbound lanes were shut down just in time for rush hour traffic Friday. The Ocala Star-Banner reports the sinkhole is growing rapidly and was …

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North Carolina to Host Flood Insurance Conferences; Agents Eligible for CE Credits

The North Carolina Department of Insurance has set up five flood insurance conferences statewide between July and September designed to educate the public, insurance and real estate agents of the need to purchase flood insurance, NCDOI said in a statement. …

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12-Year-Old Boy Killed After Fall at North Carolina Trampoline Park

A 12-year-old boy who fell from a rock climbing wall at a North Carolina trampoline park has died. News outlets report Altitude Trampoline Park in Gastonia closed Friday out of respect for the boy’s family. Police say he died Thursday …

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Idaho Crop Insurance Company Will Pay $3.48M in Lawsuit

A crop insurance company has agreed to pay a southwestern Idaho farming family $3.48 million following a lawsuit. The Idaho Statesman reported that the Farm Bureau Mutual Insurance Company of Idaho agreed to pay Nate and Kristin Pancheri for damage …

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Washington Hotel Owner Faces Charges Over Asbestos Removal, Fined $355K

A Seattle, Wash. hotel owner is facing a felony perjury charge and state Clean Air Act violations after authorities said he lied about having uncertified workers remove asbestos during a renovation. Attorney General Bob Ferguson said Friday he filed the …

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M5.5 Quake Confirmed California Near Pacific Coast

The U.S. Geological Survey a magnitude 5.5 earthquake has hit near the Pacific coast of Northern California. The agency says the earthquake struck at 8:53 p.m. on Saturday at a spot 17.3 miles southwest of Scotia, a town of 850 …

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Viewpoint: Why Medical Marijuana Laws Are Not a Gateway to Adult Use Legislation

The 2018-2019 legislative sessions of Delaware, New Jersey, New York and Pennsylvania have all but ended without the passage of adult use cannabis legislation. This was especially surprising in New York and New Jersey, where adult use legislation reportedly failed …

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Small Fire Still Burning at Site of Philadelphia Oil Refinery Explosions

Officials say a very small fire continues to burn at a Philadelphia refinery following explosions and a pre-dawn blaze that shook homes and caused some minor injuries. Philadelphia Energy Solutions said Saturday that workers are trying to isolate the remaining …

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Virginia Officials Say Party Bus Did Not Have Legal Permit When Woman Fell to Death

Virginia officials say a party bus was operating without proper permits when a woman fell out of it last year and died. The Virginian-Pilot reports that the Virginia Department of Motor Vehicles says the bus that Kisha Marrow-Lott fell out …

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Vermont Man’s Sunken Boat Case Scheduled for Trial in August

A lawsuit over whether insurance companies must cover a Vermont man’s claim for his boat he says sank with his mother on board is heading to trial this summer. The Providence Journal reports that a judge on Wednesday set Aug. …

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Liberty Mutual Re Taps Voges from AXA as Senior Marine & Energy Underwriter

Liberty Mutual Re, part of Liberty Mutual Insurance Group, has appointed Jens Voges as senior underwriter and product leader Marine & Energy within its London Market Risks (LMR) team. The new role was created to support Liberty Mutual Re’s (LM …

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Workers’ Comp: Delivering for Our Neighbors

Every year there are more than two million workplace injuries in the United States. Behind each of those claims is a firefighter, a construction worker, or a mechanic. They’re our moms, dads, sisters, brothers, and neighbors. One of them is …

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As Lloyd’s Jettisons Some Ship Insurance Lines, Rivals Find New Opportunities

Rivals to Lloyd’s of London are riding a rising tide of marine insurance rates, leaving the 330-year-old market behind after it jettisoned sections of its oldest line of business last year. Premiums for marine insurance, which until 2018 had fallen …

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Iran Increases Cyber Attacks on U.S. Gov’t, Infrastructure: Cyber Security Firms

Iran has increased its offensive cyber attacks against the U.S. government and critical infrastructure as tensions have grown between the two nations, cyber-security firms say. In recent weeks, hackers believed to be working for the Iranian government have targeted U.S. …

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Facebook’s Cryptocurrency Faces Pushback from Global Financial Watchdogs

Facebook Inc. was hours away from the formal announcement of its ambitious foray into financial services, but French Finance Minister Bruno Le Maire was already broadcasting his discontent. “It’s out of the question” that the social-media giant’s digital money compete …

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Women Employees at Oracle Seek Class-Action Status in Gender Pay Lawsuit

Call it the class ceiling. Women suing major technology companies for gender discrimination would have much stronger leverage against their employers if they could press their claims on behalf of a large group of female colleagues. But last year, the …

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AXIS Re Hires Hands from CNA Hardy as Head of Australia

AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd. announced the expansion of AXIS Re Strategic Partners with the hiring of Robert Hands as a strategic account executive and head of Australia. In this role, Hands will be …

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Facebook Faces Lawsuit for Data Breach Affecting Nearly 30 Million Users

Facebook Inc. failed to fend off a lawsuit over a data breach that affected nearly 30 million users, one of several privacy snafus that have put the company under siege. The company’s disclosure in September that hackers exploited several software …

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Financial Services Provides Plenty of Jobs – from Coast to Coast: Opinion

There were 755,436 people working in financial activities in the New York metropolitan area last year, more than twice as many as in the next-biggest area for such jobs, metro Los Angeles. But this amounted to just 8% of New …

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UK’s Legal & General Is Divesting Exxon Shares Over Climate Change

One of Britain’s biggest fund managers started selling shares in Exxon Mobil Corp., saying America’s largest oil company isn’t doing enough to address climate change. Legal & General Investment Management, which oversees about $1.3 trillion and is one of Exxon’s …

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Dutch Insurer Weighs Cutting Cover for Gambling, Arms, Nuclear Power

Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …

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How the Florida ‘Omnibus’ Insurance Bill Will Impact Insurer Duty to Defend, Appraisal

While most of the news out of the 2019 Florida Legislative Session surrounding insurance has focused on House Bill 7065 and the wide-spread assignment of benefits (AOB) reform it promises, another piece of legislation that makes some big insurance-related changes …

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CSAA in California Names Acevedo Chief Information Officer, and Rogers Chief Information Security Officer

CSAA Insurance Group has named Paul Acevedo executive vice president and chief information officer. CSAA has also named Marlys Rodgers chief information security officer. Acevedo leads CSAA’s technology organization, with responsibilities including consumer- and agent-facing digital experiences. Acevedo joined CSAA …

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AXA XL Enhances Environmental Insurance Coverage

AXA XL’s Environmental business in North America has added supplemental coverage to its Pollution and Remediation Legal Liability (PARLL) policy which provides protection to owners, operators and developers of fixed facilities against loss, remediation expense and legal defense expense for …

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Kentucky Supreme Court: Trampoline Park Not Immune from Liability in Injury Case

The Kentucky Supreme Court has ruled that a damage waiver signed by a parent at a trampoline park does not protect the park from liability in the case of an injured child. The Courier Journal reports that the court said …

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Kentucky Distillery Trying to Save Thousands of Barrels at Storm-Damaged Warehouse

Kentucky distillery says efforts are underway to recover thousands of barrels of bourbon at a massive storage warehouse that partially collapsed during a thunderstorm. O.Z. Tyler Distillery in Owensboro said a section of the warehouse has been “successfully deconstructed” and …

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California Governor Wants Wildfire Fund to Help Utilities

California Gov. Gavin Newsom is pressing lawmakers on a wildfire fund that may be financed through bonds to help utilities pay for the catastrophic blazes their power lines keep igniting, according to people familiar with the proposal. Newsom is proposing …

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New Hampshire’s SAN Group Hires Gray as Commercial Lines Placement Specialist

Satellite Agency Network Group Inc. (SAN), a Hampton, N.H.-based alliance of independent insurance agencies in the Northeast, has hired Kathy Gray as commercial lines placement specialist. Gray, a licensed broker and notary public, brings more than 25 years of experience …

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Bird Knocks Out 84% of Massive California Solar Farm

An “avian incident” sparked a fire at one of California’s biggest solar farms, affecting 1,200 acres and knocking out 84% of the California Valley Solar Ranch’s generating capacity. The June 5 incident didn’t damage solar panels at the 250-megawatt power …

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Severe Weather Spurs Flooding, Disrupts Rail Service in Pennsylvania

Severe storms containing heavy rains and strong winds have spurred flooding in the suburbs of Philadelphia, disrupting travel and damaging some property. The storms started Wednesday night and continued for several hours through early Thursday. It was the latest round …

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Maine Eyes Compensation Fund for Property Crime Victims

A Maine proposal to more swiftly compensate victims of property crimes has passed a key test in the Senate. The Senate signed off Tuesday on a proposal to create a compensation fund for victims of the crimes. The sponsor, Democratic …

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Oil Shippers Continue Sailing Through Strait of Hormuz – with Heightened Security

A series of attacks on oil tankers near the Persian Gulf has ratcheted up tensions between the U.S. and Iran – and raised fears over the safety of one of Asia’s most vital energy trade routes, where about a fifth …

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Huge Fire Rips Through Philadelphia Refinery, No Casualties Reported

Fire ripped through a Pennsylvania oil refinery early on Friday, triggering a huge explosion that local media said rocked homes several miles away. Video footage showed the 335,000-barrels-per-day Philadelphia Energy Solutions refinery, where another fire broke out 11 days ago, …

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Hamilton Re Sponsors Issuance of Its First Cat Bond

Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its Hamilton Capital Partners business unit. Specifically, the deal is with Cerulean …

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Intel’s Mobileye Aims to Launch Trial of Self-Driving Cabs on Israeli Roads in 2020

Intel Corp.’s Mobileye NV unit expects to launch a trial of robo-cabs next year in Israel, the company told Bloomberg News on Sunday [June 16]. Intel Chief Executive Officer Bob Swan rode a Mobileye autonomous car through Jerusalem congestion Sunday …

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Billions at Stake from Opioid Suits but Damages Unlikely to Top $200B Tobacco Windfall

An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for governments hoping to recoup costs associated with the public …

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Walmart Agrees to Pay $282 Million to End 7-Year Global Bribe Investigation

Walmart Inc. agreed to pay $282 million in penalties and a Brazilian unit admitted to violating a U.S. anti-bribery law, providing a relatively subdued ending to a seven-year investigation that spanned the globe and at one point looked poised to …

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2 Ex-AIG Employees Win $10M in France, Ahead of Separate $100M Bonus Case in UK

Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they’d already earned to cover for its huge losses. The Paris court …

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AIR Worldwide Releases Update of New Zealand Earthquake Model

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake sequence, the 2016 Kaikoura earthquake, and earthquakes worldwide to provide …

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Tesla’s Autopilot System Confuses Drivers About Extent of Automation: Safety Report

Automakers including Tesla Inc. are stoking confusion among motorists by choosing names for their automated-driving systems that wrongly suggest they’re more capable than is actually the case, according to the Insurance Institute for Highway Safety. Almost half of respondents to …

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Canada’s Desjardins Blames Employee for Leak of Personal Details of 2.9M Customers

Desjardins Group, the largest financial co-operative in North America, said an “ill-intentioned” employee illegally exposed the personal information of some 2.9 million credit union members in one of Canada’s largest data leaks. Laval police alerted the Quebec-based institution on June …

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Ghost of Harvey Looms Large as 2019 Hurricane Season Gets Underway

Compared with 2017, last year’s hurricane season was a relatively quiet one for the Gulf Coast states of Louisiana and Texas, with major U.S. storm systems such as Hurricanes Michael and Florence staying well to the east, impacting Florida and …

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Subrogation Waiver in Construction Contract Upheld by Wisconsin Court

A subrogation waiver in a construction contract blocks an insurer’s claim against a contractor whose alleged shoddy construction caused the collapse of a barn that cost more than $600,000 to replace, the Wisconsin Supreme Court ruled in a split decision. …

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EPIC Adds 4 to Employee Benefits Team in Houston

EPIC Insurance Brokers and Consultants, a retail property/ casualty insurance brokerage and employee benefits consultant, has added Principal Ed Oravetz, Principal Keith McNeely, Principal David Potts, Client Executive Elisha Johnson and Client Manager Marilu Alejandre to its employee benefits consulting …

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2 Injured, Multiple Structures Destroyed by Fire on Alabama-Florida Line

An overnight fire near the Alabama-Florida state line has destroyed multiple condominiums near the beach at Perdido Key and injured a resident and a firefighter. Escambia County officials say the blaze broke out early Wednesday at a development within yards …

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Lawrence Sworn In as Interim Tennessee Insurance Commissioner

Tennessee Gov. Bill Lee has sworn in a new interim commissioner of commerce and insurance. The state Department of Commerce and Insurance tweeted out a photo of Carter Lawrence taking the oath of office this week. Lawrence previously served as …

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North Carolina Insurance Fraud Round-Up: May

The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of May 2019. Insurance fraud costs American consumers approximately $80 billion a year. According to North Carolina Insurance Commissioner Mike Causey, fraud costs North Carolinians between …

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Corvus Insurance Taps Stantzos to Lead New Chicago Office

Corvus Insurance, an insurtech specializing in commercial insurance, hired Amanda Stantzos as vice president of Cyber Underwriting, based in the company’s new location in Chicago. Stantzos joins Corvus from NAS Insurance Services, where she was assistant vice president of Underwriting, …

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Retired Judge to Mediate Dispute Over Oklahoma Opioid Settlement Funds

A former Oklahoma State Supreme Court justice will attempt to resolve a dispute over how to disburse an $85 million settlement of a state lawsuit with Teva Pharmaceuticals. Cleveland Count District Judge Thad Balkman said Monday that retired Judge Steven …

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Climate Change Forcing Some Alaskan Villages to Relocate

Accelerating erosion is forcing villages in western Alaska to begin making plans to move, officials said. Erosion caused by climate change threatens village infrastructure and could force the relocation of communities such as Quinhagak, Alaska’s Energy Desk reported Monday. A …

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Utah Movie-Filtering Company Ordered by Jury to Pay $62M to Studios

A Utah-based movie-filtering company has been ordered to pay more than $62 million to Disney and other Hollywood studios. A California jury decided the damages this week against the company VidAngel, which had ripped the movies from DVDs and then …

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Cancer Patient Another to Accuse UCLA Gynecologist of Assault

A cancer patient is the latest woman to accuse a retired University of California, Los Angeles gynecologist of sexually abusing her during treatment. The Los Angeles Times reports the 44-year-old unnamed woman has sued UCLA and Dr. James Heaps, alleging …

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How PG&E’s $1B to Local Governments for Wildfire Damage Will be Paid

A California utility agreed Tuesday to pay $1 billion to 14 local governments to cover damages from a series of deadly wildfires caused by its downed power lines. The settlement is a sliver of the more than $30 billion in …

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AIG’s Klepper Joins AXA XL as Chief Underwriter for Short Tail Insurance Lines

AXA XL, the property/casualty and specialty risk division of AXA, has named Robert Klepper as chief underwriting officer for Short Tail Insurance Lines. In his new role, Klepper will be responsible for developing underwriting and product profitability strategies for short …

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Consortium Seeks Data on Issues, Opportunities for Women in Insurance

There is an effort underway to develop a better understanding of issues and opportunities for women in the insurance industry. The Million Women Mentors’ Women in Insurance Consortium (WII) will be spearheading what is being billed as a first-of-its-kind project, …

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Auto Insurance Buyers’ Satisfaction Rises When They Are in Driver’s Seat

U.S. auto insurance consumers are quite happy about their coverage, and a growing shift to direct-to-consumer models has driven much of their good feelings. In a new report, J.D. Power says overall customer satisfaction with carriers rose in 2019 to …

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R&Q’s CEO to Step Down, Succeeded by Co-CEOs Quilter and Sellek from AM Best

Randall & Quilter Investment Holdings Ltd. the non-life legacy insurance investor and capacity provider of U.S. and European MGA program business, announced that Ken Randall will step down as group CEO, but will continue as executive chairman of the group. …

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Penn. Governor Wolf Wants Power Plant Emission Plan to Fight Climate Change

Pennsylvania Governor Tom Wolf is asking Pennsylvania’s Republican-controlled Legislature to take steps toward authorizing the state to join a regional consortium that sets a price and caps on greenhouse gas emissions from fossil fuel-fired power plants. The Democratic governor’s move …

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New York to Adopt Aggressive Emission Reduction Goals

New York would adopt some of the nation’s most aggressive emission reduction goals under a proposal worked out by state leaders and set for a vote in the state Legislature Tuesday night. Under the proposal, New York would reduce greenhouse …

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NY1 News Anchors Sue Charter For Age, Gender Discrimination

Five female news anchors sued Charter Communications Inc., claiming rampant age and gender discrimination at the company’s popular New York One news channel has rendered their decades of experience meaningless. “NY1 has blatantly marginalized them and cast them aside in …

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Motor Vehicle Accident Deaths Declined 1% Last Year

An estimated 36,760 people died in motor vehicle crashes last year, about a 1% decrease from the year before, according to the National Highway Traffic Safety Administration’s Early Estimates of Motor Vehicle Fatalities in 2018. To be included in the …

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NFL Passing Player Injury Prevention Research and Ideas onto Colleges

The NFL’s top medical experts are asking college football physicians and trainers to help make the game safer. They want the NCAA to pitch in, too. Dr. Allen Sills and Jeff Miller, the NFL’s executive vice president for health and …

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Cold War Era Satellite Images Reveal Acceleration of Asian Glacier Melt

Himalayan glacier melt has doubled over the last 40 years, according to new research made possible by declassified cold war era satellite imagery. The 650 glaciers under study in parts of China, India, Bhutan and Nepal were found to be …

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Lloyd’s Gathers Group of Industry Heavy-Hitters as Advisers for Its Strategy for Future

Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg of Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that will help support and develop …

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Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS

Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the independent Zurich-based organization that provides …

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Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase

Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit agreements and will reduce unnecessary litigation responsible for driving …

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Holmes Murphy Adds Payne as Organizational Wellbeing Practice Leader

Ali Payne has joined insurance services firm Holmes Murphy in Waukee, Iowa, as practice leader for Organizational Wellbeing. Payne brings more than 19 years of experience developing holistic, innovative solutions to enhance both the employee experience and engagement. Payne spent …

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Tower Hill Specialty Expands Into Arkansas

Tower Hill Specialty is now offering manufactured housing and dwelling fire insurance policies in Arkansas. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown option provides coverage for items such as appliances and HVAC systems. Discounts …

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Senator Calls for Facebook, YouTube, Twitter to Lose Lawsuit Immunity If Politically Biased

Technology platforms such as Facebook Inc. and Google’s YouTube could face a flood of lawsuits unless they can demonstrate their treatment of users’ content is politically neutral, under a measure that U.S. Senator Josh Hawley’s office said he would offer …

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Hudson River Pilot ‘Sully’ Urges More 737 Training, Aircraft Certification Reform

Chesley “Sully” Sullenberger, who in 2009 landed a US Airways flight safely on the Hudson River in New York, told a congressional panel on Wednesday that pilots of the now-grounded Boeing 737 MAX should get new simulator training before the …

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South Carolina Governor Looks to Tackle State’s Flooding Woes

Gov. Henry McMaster started his Saturday in a South Carolina town devastated by flooding twice in three years to try to help make things better in the short and the long term. McMaster and other volunteers helped clean trash and …

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AIG Consolidates Reinsurance into New AIG Re; Taps Marsh’s Schaper as CEO

American International Group announced the formation of AIG Re, which consolidates the company’s assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty, into one global business. AIG completed its acquisition of Bermuda reinsurer and specialist insurer Validus Holdings last …

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Sandy Hook Shooting Victims’ Parents Win Defamation Suit Against Conspiracy Theory Authors

The father of a victim of the Sandy Hook Elementary School massacre has won a defamation lawsuit against the authors of a book that claimed the shooting never happened — the latest victory for victims’ relatives who have been taking …

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Maine Farmer Becomes Board Chair of The MEMIC Group

From broccoli to the board room, Lance Smith has cultivated a reputation for collaboration, hard work and common sense. A partner in Smith’s Farm, the largest producer of broccoli and one of the largest growers of cauliflower in the East, …

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Explosion Levels New Jersey Home, Injuring Lone Occupant

An explosion leveled a home in New Jersey on Monday, injuring the lone occupant, who was pulled from the burning rubble by an off-duty police officer and first responders. Heavy flames and a large plume of smoke rose from the …

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Enrollment Opens for Dairy Farm Insurance Program

Vermont dairy farmers can now sign up for an improved insurance program to help them when the gap between milk prices and feed prices reaches a certain level. The new insurance program was created as part of the 2018 farm …

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Drug Makers’ Supply Chain Probed as Blood Pressure Pill Tests Positive for Carcinogens

An online pharmacy told U.S. regulators it found another cancer-causing chemical in widely prescribed blood-pressure pills, raising new questions about a complex global web of companies that produces medicine for millions of people. A solvent called dimethylformamide was discovered in …

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Lloyd’s Must Demonstrate Progress in Tackling Sexual Harassment: Bank of England

The Bank of England called for Lloyd’s of London to demonstrate progress in tackling the insurance market’s culture of sexual harassment. The BOE’s director of insurance supervision Anna Sweeney said she would work together with the Financial Conduct Authority to …

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Bayer Asks Judge to Overrule $2 Billion Monsanto Roundup Verdict

Bayer AG has asked a California judge to overrule a $2 billion verdict by jurors who found the company’s glyphosate-based Roundup weed killer responsible for a couple’s cancer, arguing the jury decision was not supported by evidence. The German drugmaker …

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Vietnam Culls More Than 2.5M Pigs to Contain Deadly African Swine Fever: Officials

Vietnam has culled more than 2.5 million pigs to contain the spread of an African swine fever outbreak that is in danger of infecting every province of the country, an agriculture ministry official said on Tuesday. The virus, which is …

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Greenhouse Gas Emissions Must Be Halved by 2030 to Avoid 3C Warming: Scientists

Emissions need to be halved by 2030 to limit warming to 1.5 degrees Celsius but temperatures are on track to reach double that by the end of the century even if countries’ current plans are fully implemented, research by scientists …

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Legacy Specialist Compre Completes 3 Run-Off Acquisitions

Compre, the London-based independent re/insurance legacy specialist, announced it has signed three transactions involving Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Co. Ltd. (Helvetia), and an undisclosed European insurance group. Compre has acquired each company’s share of the Gibbon Pools, …

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Caribbean Insurers’ Net Income Rebounds After 2016-2017 Hurricane Seasons: AM Best

An analysis of AM Best-rated property/casualty insurers based in the Caribbean found that overall net income rebounded significantly following the 2016-2017 hurricanes to $32.2 million in 2018 compared with a $4.3 million loss in the previous year. After losses in …

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Aspen Taps Brekenfeld from Lloyd’s as Director of Global Corporate Development

Aspen Insurance Holdings Ltd. announced that Joshua (Josh) Brekenfeld has been appointed director of Global Corporate Development. Brekenfeld joins Aspen from Lloyd’s of London where he spent six years in senior roles, most recently leading the business oversight relationship between …

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Alera Group Selects Englert as National P&C Leader

Alera Group, a national employee benefits, property/casualty, risk management and wealth management firm based in Deerfield, Illinois, has appointed Mark Englert as national property/casualty practice leader. Englert will be responsible for continuing Alera Group’s path toward building world-class property/casualty solutions. …

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Higginbotham in Texas Buys Commercial Insurance Unit of Extraco Banks

Extraco Banks has sold its commercial insurance operation to Fort Worth, Texas-based independent insurance broker, Higginbotham. Extraco Insurance is a group of five property/casualty insurance professionals operating in Waco, Temple and Hamilton, Texas, for 19 years. The group will continue …

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Company Cited, Fined $341K After Fatality at Texas Tire Retreading Facility

A Mississippi company faces more than $341,000 in penalties for failing to protect employees from serious safety hazards, a practice that led to a worker’s death at a plant in Texas, federal safety officials say. The U.S. Department of Labor’s …

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Chicago Staffing Firm to Pay $50K to Settle Sex Harassment Lawsuit

Chicago-based Staff Management | SMX (SMX), which provides temporary employees to the light-industrial sector worldwide, will pay $50,000 to a female former employee and furnish other relief to settle a sexual harassment lawsuit filed by federal officials. The U.S. Equal …

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Midwestern Floodwaters Harming Louisiana, Mississippi Seafood Businesses

This is a bad year for people who make their living from seafood in Louisiana and Mississippi. Floods from the Midwest are killing oysters, and driving crabs, shrimp and finfish out of bays and marshes, into saltier water where they …

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Viewpoint: Fixing America’s Flood Insurance Problem in 5 Steps

The National Flood Insurance Program (NFIP) was originally created by Congress to transfer U.S. flood insurance risk to private insurers. However, in 1978, (when private insurance carriers assumed over 40 percent of the nation’s flood insurance risk), NFIP administrators used …

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Facebook Plans Global Cryptocurrency, Entry into Financial Services

Facebook Inc. announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, …

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State Regulators Reviewing Proposed Sale of Workers’ Comp Specialist Applied Underwriters

A possible sale of workers’ compensation specialist Applied Underwriters looks to be a step closer to reality. The California Department of Insurance is reviewing an application for the sale of the Calif.-based Berkshire Hathaway subsidiary. CDI officials confirmed with Insurance …

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Tower Hill Specialty Adds Coverage Options in Mississippi

Tower Hill Specialty has further expanded into the Southeast and is now offering manufactured housing and dwelling fire insurance policies in Mississippi. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown option provides coverage for items …

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10 Arrests Made in Florida Unlicensed Contractor, Workers’ Comp Fraud Sting

Ten individuals have been arrested in a three-day unlicensed contracting and workers’ compensation fraud sting in Pinellas County, Fla., according to a statement from Florida CFO Jimmy Patronis. The joint operation between fraud detectives with the Florida Department of Financial …

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Kentucky Bourbon Warehouse Damaged in Partial Collapse

Part of a bourbon warehouse in western Kentucky collapsed during a thunderstorm. News outlets report the partial collapse of the O.Z. Tyler Distillery rickhouse was reported early Monday. Master Distiller Jacob Call says around 20,000 barrels are stored at the …

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Stringent Climate Policy Poised to Pass in Oregon

Oregon is on the precipice of becoming the second state after California to adopt a cap-and-trade program, a market-based approach to lowering the greenhouse gas emissions behind global warming. Supporters call it the United States’ most progressive climate policy, saying …

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Cal/OSHA Cites Solar Panel Installer $193K for Willful Fall Protection Violation

Cal/OSHA has cited an Anaheim, Calif. solar panel installation company $193,905 for multiple serious workplace safety hazards including one willful serious accident-related violation, following an investigation of a worker who was seriously injured after they fell from the roof of …

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Professional Insurance Agents of New Jersey Elects Blum President

Professional Insurance Agents of New Jersey (PIANJ) has elected Bruce Blum of Somerset, N.J., president at the association’s annual business meeting at Harrah’s in Atlantic City. Blum is owner of Blum & Walsh Group Inc., a division of T.E. Freuler …

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New York Senator Schumer Calls for Repairs to Lake Ontario Infrastructure

New York Senator Chuck Schumer plans to call on the Army Corps of Engineers to provide funding for repairs to flood-ravaged infrastructure at Little Sodus Bay Harbor on Lake Ontario. A pier and a barrier bar began to collapse in …

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Sen. Rubio Bill Would Block Patent Damage Claims by Foreign Firms on Watch List

U.S. Senator Marco Rubio filed legislation on Monday that would prevent Huawei Technologies Co. Ltd. from seeking damages in U.S. patent courts, after the Chinese firm demanded that Verizon Communications Inc. pay $1 billion to license the rights to patented …

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Operator Cleared of Fault in Boston Red Line Derailment

Transit officials say the operator of a Red Line train that derailed in Boston this week was not at fault in the mishap. An MBTA spokesman tells The Boston Globe that the investigation into last Tuesday’s derailment, the second within …

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Spragg Named President of Berkley Select

W.R. Berkley Corp. announced the appointment of Daniel R. Spragg as president of its specialty unit, Berkley Select. Spragg has 30 years of experience in the specialty insurance and insurance consulting industries. He most recently served as founding partner of …

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MS Amlin Names RSA’s Vogiatzidou as Senior Marine Underwriter in Dubai

MS Amlin, the London-based re/insurer, announced the appointment of Mary Vogiatzidou to the role of senior marine underwriter. Vogiatzidou will be based in MS Amlin’s Dubai office and will be responsible for the continued development and growth of the marine …

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Digital Car Repair Platform Fixico Raises €7M to Expand Internationally

Fixico, the Amsterdam-based digital platform for car damage repair, has raised €7 million ($7.9 million) to grow its international footprint and fleet and insurance partnerships. The technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, …

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Arthur J. Gallagher Acquires Australia Workplace Risk Consultant P2 Group

Arthur J. Gallagher & Co. announced the acquisition of Hawthorn, Victoria-based P2 Group. Terms of the transaction were not disclosed. Founded in 2003, P2 Group helps employers proactively manage occupational health and reduce the risk of worker injuries and WorkCover …

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Lloyd’s of London Aims to Revamp Auto Coverage as Era of Driverless Cars Looms

Lloyd’s of London, the 330-year-old insurance market, is pushing to revamp auto coverage as the rise of driverless cars looms. Chief Executive Officer John Neal said that Lloyd’s is talking with automakers about how to set up different policies to …

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China’s Fosun Eyes Purchase of Bayer’s Animal Health Business: Sources

Fosun International Ltd. is considering a bid for Bayer AG’s animal-health business, people familiar with the matter said, a move that could mark a return to big-ticket deals for the Chinese conglomerate backed by billionaire Guo Guangchang. Fosun has held …

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PERILS Buys Canada’s Catastrophe Loss & Exposure Analysis Firm CatIQ

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has acquired Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ). Financial details of the deal were not disclosed. Established in 2014, CatIQ provides catastrophe loss and exposure information in Canada, …

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What to Expect from Florida’s AOB Reform Law Taking Effect July 1

The countdown is on for Florida assignment of benefits (AOB) reform that will take effect July 1, and the insurance industry is getting ready to respond to new requirements as a result of the law as well as evaluating how …

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After Lawmakers Abolish State Plumbing Licensing Board; Texas Governor Revives It

Heading off the prospect of everyone in Texas being able to call themselves plumbers, Gov. Greg Abbott extended the Texas State Board of Plumbing Examiners and its licensing law until 2021 via an executive order. The Texas State Board of …

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Chicago to Partner with Gallagher in Overhaul of City’s Workers’ Comp Program

Chicago Mayor Lori E. Lightfoot said the city will partner with Gallagher Bassett, an international public sector claims administrator, as well as Gallagher Global Brokerage Risk Program Administrators, to overhaul and professionalize Chicago’s workers’ compensation program after an independent audit …

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Michigan’s High Street Insurance Names Tuitas Sr. Partner, CFO

High Street Insurance Partners (High Street), a Michigan-based provider of commercial insurance, personal lines and employee benefits services, has appointed Dave Tuitas as senior partner and chief financial officer. Tuit joins a management team led by High Street executives Scott …

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Overcoming Dearth of Data Remains Key to Cyber Insurance Underwriting, Say Experts

While there are “huge opportunities” on the horizon for the cyber insurance industry, cyber insurance underwriters still face the challenge of not having enough historical data to work with. “It’s really scary to underwrite something when you just don’t know …

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D&O Insurance Costs Soar as Investors Run to Court Over IPOs

Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A rise in securities class-action cases involving initial …

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Supreme Court Returns Gay Wedding, Religion Rights Case to State

The U.S. Supreme Court ordered reconsideration of a $135,000 award against an Oregon bakery that refused to make a cake for a same-sex wedding in a case that revived a fractious debate over religious rights and equal treatment. After more …

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Court Relieves Insurers of $65 Million Payment Linked to Stanford Ponzi Scheme

A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …

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Former Tenn. Insurance Head McPeak Joins Greenberg Traurig Law Firm in Nashville

Former Tennessee Insurance Commissioner Julie Mix McPeak, who stepped down as the head of the Tennessee Department of Commerce and Insurance Commissioner last month, will join the global law firm Greenberg Traurig, P.A., in the firm’s Insurance Regulatory and Transactions …

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Hub Acquires Assets of Atlanta-based Insurtech In-Fi; Hires Chasteen

Hub International Limited, has acquired the assets of CBIS, LLC, d/b/a “In-Fi” (In-Fi). Terms of the transaction were not disclosed. Established in 2016 by co-founder Jon Chasteen, In-Fi developed a distribution platform for financial institutions, which utilizes technology and automation …

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Alexa, Why Was a Lawsuit Filed Against You?

If Big Brother isn’t watching, maybe his little sister is listening. An international law firm has filed a federal lawsuit against Amazon.com Inc., alleging that the company’s Alexa virtual assistant product violated privacy laws in Massachusetts and seven other states …

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Alabama Tyson Foods Plant Waste Water Spill Spreads E. Coli in Rivers

Alabama environmental officials say another waste water spill from a Tyson Foods plant has contaminated rivers with E. coli and killed an untold number of fish. News outlets report up to 800,000 gallons of waste water spilled last week from …

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Small Quake Confirmed Near Central California Town

The U.S. Geological Survey confirmed a magnitude 3.2 earthquake hit central California. The agency says the earthquake hit a spot 11.4 miles southwest of Darwin, a town of about 36 people, at 6:48 p.m. The agency says the earthquake had …

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TigeRisk Names Frase Partner in California

TigerRisk Partners LLC has named Lindsey Frase a partner and member of its North American current client division. Frase will report to Wade Gulbransen, global head of reinsurance. Frase started her reinsurance industry career working for Guy Carpenter. In 2006 …

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Trump Declares Disaster in Six Vermont Counties

President Donald Trump has made a disaster declaration for Vermont’s Bennington, Essex, Orange, Rutland, Washington and Windsor counties for flooding in April. Vermont Gov. Phil Scott says a preliminary assessment by the Federal Emergency Management Agency identified more than $2 …

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Officials Say Multi-Million Dollar Loss in Nine-Alarm Boston Fire

Authorities in Boston say a fire that started at a vacant property and spread to nearby homes likely caused millions of dollars in damages. The Boston Fire Department tweeted that the cause of Saturday evening’s nine-alarm fire on the border …

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Moving Companies Owner Pleads Guilty to More Than $1M Fraud Conspiracy

A New Jersey man who owned moving companies has admitted cheating customers by low-balling estimates and then jacking up prices once the goods were on his trucks. Rami Zubidat of Clifton on Wednesday pleaded guilty in federal court to conspiracy …

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Insurer Must Cover Defendant in Fatal Bathroom Fight Lawsuit

A Delaware judge says an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a school bathroom attack captured on cellphone video that left a 16-year-old girl dead. The judge ruled Wednesday …

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How Trump Is Remaking Health Insurance Without Repealing Obamacare

President Donald Trump’s attempt to transform American health insurance is almost complete. Twenty months ago, frustrated after attempts to repeal Obamacare fell apart in the Republican-controlled Senate, Trump pledged to use executive power to do what Congress failed to legislate. …

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Geneva Association Elects 4 Board Members from Ping An, Prudential, PICC and Aviva

The Geneva Association, the global organization of insurance and reinsurance chief executive officers (CEOs), announced the election of four new board members. They are: Yuansiong Lee, co-CEO, Ping An Insurance Co. of China; Charles F. Lowrey, CEO, Prudential Financial; Jianmin …

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UK Business Executives Grow Increasingly Angry at Brexit Deadlock

There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on leaving the European Union …

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InsurTech Innovation Challenge European Winner Is Riskbook, Says ACORD

ACORD, the global standards body for the insurance industry, has announced that Riskbook was the winner of the London semi-final round of the ACORD InsurTech Innovation Challenge (AIIC), with RITA and Optimiz.Claims named as runners up. Riskbook is focusing on …

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Russian Aeroflot Plane Hit by Lightning Before It Crashed, Killing 41: Investigators

Lightning struck a Russian Sukhoi Superjet 100 aircraft knocking out its auto pilot system shortly before it crash landed in Moscow last month killing 41 people, investigators said on Friday, adding it had approached too fast and been too heavy. …

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City of London Tackles Its Daytime Drink Problem – One Institution at a Time: Opinion

For most of the traders, bankers, lawyers and accountants who populate the City of London, the era of excessive daytime boozing is long gone. Pubs and pints have been replaced by coffee shops and lattes. Dealmaking hasn’t suffered for it. …

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Iranian Forces Were Likely Responsible for Attacks on Tankers, Says Insurer DNK

Iranian forces were likely responsible for the attacks that occurred Thursday on two tankers in the Gulf of Oman, according to a report seen by Bloomberg from DNK, the insurer of one of the ships. The Norwegian insurer has raised …

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War Risk Insurance Premiums Surge for Oil Tanker Owners After Gulf Attacks

Oil tanker owners face spiraling insurance costs to load cargoes from the world’s largest crude-export region after the latest round of attacks on vessels. War risk premiums that owners pay each time they go to the Persian Gulf have now …

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Florida Hopes to Lure Autonomous Car Companies Under New Law

Self-driving vehicles with no humans on board will be able to operate in Florida – once they’re finally ready for prime time – under a bill signed Thursday by Gov. Ron DeSantis. DeSantis said he hopes to use the law …

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PURE Programs Expands High Value Homeowners Coverage into 5 New States

PURE Programs has expanded its coverage for high value homeowners into Texas, Louisiana, Mississippi, Alabama, and Georgia. Across the region, PURE Programs will offer coverage for homes with a rebuilding cost of $1 million to $50 million that do not …

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Kansas Supreme Court Throws Out Personal Injury Damages Cap

The Kansas Supreme Court on Friday ruled that the state’s cap on damages for noneconomic injuries in personal injury lawsuits is unconstitutional. The court ruled 4-2 that capping damages an injured person is able to recover in a lawsuit violates …

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Drugmakers Sue to Halt Rule on Prices in TV Ads

U.S. drugmakers on Friday filed a lawsuit to prevent the companies from disclosing the list price of prescription drugs in direct-to-consumer television advertisements as per a newly proposed government regulation. The lawsuit was jointly filed by Amgen Inc, Merck & …

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Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008

In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached $19 billion in inflation-adjusted …

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Plaintiffs Suing Drug Firms Propose Opioid Settlement to Involve Every U.S. County, Municipality

Lawyers representing county and municipal governments accusing drug manufacturers and distributors of fueling the U.S. opioid epidemic proposed a novel plan on Friday that would allow every community nationally to participate in negotiating billions of dollars in settlements. The proposal …

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Kochilaris Joins Florida Homeowners Insurer Olympus as Sales Manager

Florida-based Olympus Insurance Co. has added Nathan Kochilaris as the company’s new Southwest Florida Sales manager. Kochilaris will work under Vice President of Sales and Marketing Crystal McInnis. Kochilaris has experience in both the insurance and real estate sectors. He …

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Uber, Lyft Appeal for Deal on Driver Status as Independent Contractors

Faced with legislation in California that endangers their business model, Uber Technologies Inc. and Lyft Inc. are urging a compromise that would keep their drivers from being considered employees. “We can make independent work better if we update century-old employment …

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Rebranded Crime App Aims for ‘People-Powered Public Safety Net’

One afternoon in late October 2017, hundreds of students from the elite Avenues private school in Manhattan were loaded onto buses, ready to head home. Suddenly, school principal Abby Brody got a disturbing smartphone alert. The crime-tracking app Citizen buzzed …

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AGCS Appoints Kadow as Global Head of Marine; Fadden Named Global Head of Aviation

Allianz Global Corporate & Specialty SE (AGCS) is rearranging roles in the management team of its Specialty business segment. Effective July 1, 2019, Ulrich Kadow will be appointed as AGCS global head of Marine. Effective immediately, Tom Fadden will be …

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El Niño Conditions Likely to Continue Through Summer

There is a 66% chance that the Northern Hemisphere will see persisting El Niño conditions in the summer of 2019, the National Weather Service’s Climate Prediction Center (CPC) said in its monthly forecast on Thursday. “The current downwelling oceanic Kelvin …

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OSHA Proposes Nearly $1.8M in Fines After Roofer’s Death in Maine

The federal Occupational Safety and Health Administration has proposed nearly $1.8 million in fines for a Maine roofing contractor after an employee died in December. An OSHA spokesman told the Portland Press Herald that the fine against Shawn Purvis is …

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Threat of No-Deal Brexit Isn’t Likely to Win EU Concessions: UK Business Chief

Threatening to leave the European Union without a deal isn’t likely to win Britain concessions from the bloc, the country’s biggest business group said in a warning to candidates jostling to succeed Prime Minister Theresa May. “I’ve never felt it …

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Insurers Appoint Dutch Marine Engineer to Salvage Oil Tankers in Gulf of Oman

Dutch marine engineer Boskalis said on Friday it had has been appointed to salvage both tankers that were hit in the Gulf of Oman in a suspected attack. Boskalis said the condition of the Front Altair tanker, carrying a cargo …

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China ‘Should Focus’ on Financial Market Reforms, Rather Than Restricting U.S. Firms

China should focus on market reforms and avoid restricting access for U.S. financial firms if the trade war escalates and spills into the financial sector, said a lobby group representing global banks and asset managers. The Asia Securities Industry & …

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Maryland’s Frederick Mutual Promotes Showalter to Vice President

Frederick Mutual, a Frederick, Md.-based insurance company, has promoted Jill Showalter to vice president and chief insurance operations officer. Showalter initially joined Frederick Mutual on October 2, 2017, as its new regional vice president. In this role, she was responsible …

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Canada Expands Credit Insurance for Canola Exporters as China Dispute Continues

Ottawa increased the insurance coverage available for canola exporters, a government corporation said on Thursday, as it seeks to reduce trade risks amid a dispute with China. China halted purchases of Canadian canola in March, citing pests in shipments by …

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Swiss Re’s UK Unit, ReAssure, Gets Ready for IPO in July

Swiss Re AG confirmed that its U.K.-based ReAssure Group Plc unit intends to undertake an initial public offering, giving the business firepower to expand its closed life and pension business. The company is expected to begin trading in London in …

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Official Says Pilot Who Crashed Helicopter in NYC Radioed He Was Lost

The pilot killed when his helicopter hit the roof of a New York City skyscraper in rain and fog radioed that he was lost and trying to get back to the heliport but couldn’t find it, an official briefed on …

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Insurance Rates for Crude Oil Tankers to Jump After Gulf Attacks

Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their ships paused bookings on Thursday as …

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Oklahoma Workers’ Comp Commission to Hire External Consultant for Fee Schedule Review

The Oklahoma Workers’ Compensation Commission (WCC) reports that as a result of the passage of legislative revisions to 2013 workers’ compensation reforms, it is required to review and update the schedule of fees by which doctors who treat injured workers …

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Texas Company to Pay $75K to Settle Disability Discrimination Suit

L-3 Communications, a large defense contractor with facilities in Texas, will pay $75,000 and furnish other relief to settle a federal disability discrimination lawsuit. According to the lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), an engineer hired …

from News – Insurance Journal http://bit.ly/2XMnGum
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