Florida Regulator Calls Open Hurricane Michael Claims ‘Discouraging’; Plans Data Call

With more than 20,000 claims related to Hurricane Michael still open nine months after the storm hit the Florida Panhandle, Florida’s top insurance regulator is calling on the insurance industry to take “all actions necessary” to bring policyholder claims to …

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World Insurance Associates Acquires West Coast Insurance Group, Combs Insurance of Florida

World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, N.J., has expanded its presence in Florida with the acquisitions of West Coast Insurance Group and Combs Insurance, effective July 1, 2019. West Coast Insurance Group of Saint …

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Capital One Data Breach Clouds Technology Strategy; Puts $400M Cyber Insurance in Play

Capital One Financial Corp., in recent years, has beat the drum every chance it got: The cloud is cheaper. The cloud is faster. And the cloud is far more secure. Then a hacker got into the cloud, siphoning off sensitive …

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Roof Collapses at Houston Construction Site, Injuring 9 Workers

The Houston Fire Department says nine workers were taken to hospitals after they were injured when part of the roof of a building under construction collapsed. Firefighters responded to the roof collapse Monday morning at a hotel under construction north …

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Company Faces $724K in Federal Fines for Hazards at Ohio Plant

An automotive glass manufacturer has been cited by federal workplace safety officials for exposing employees to multiple safety and health hazards at its production plant in Moraine, Ohio. Fuyao Glass America Inc. faces $724,380 in penalties imposed by the U.S. …

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Nebraska’s Omaha National Expanding to Illinois and Pennsylvania

Workers’ compensation insurance carrier, Omaha National, is expanding into Illinois and Pennsylvania, issuing policies with an effective date of Sept. 1 or later. In addition to workers’ compensation insurance, Omaha National also provides payroll services to small and mid-size businesses. …

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Experts Say Organizers Should Check Emergency Plans After California Festival Shooting

Experts say organizers should take another look at their emergency plans in the wake of the deadly shooting at a California food festival to see if they can make additional safety improvements. The shooting Sunday at the Gilroy Garlic Festival …

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Los Angeles Jury to Decide Damages Owed By Katy Perry For ‘Dark Horse’

A jury’s verdict that Katy Perry’s 2013 hit “Dark Horse” improperly copied a 2009 Christian rap song represents a rare takedown of a pop superstar and her elite producer by a relatively unknown artist, and sets up a battle over …

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AXA XL Appoints Fumagalli as Head of International Financial Lines, Europe

AXA XL Insurance announced the appointment of Simona Fumagalli as head of International Financial Lines, Europe, based in Milan. In her new role, Fumagalli will be responsible for developing the business line’s underwriting strategies and product offering for Europe. In …

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Arch Capital to Acquire UK-Based Barbican Group Holdings

Arch Capital Group Ltd. has entered into an agreement to purchase Barbican Group Holdings Ltd. from funds managed by Carlson Capital, a U.S.-based alternative asset management firm, subject to regulatory approval. The acquisition includes Barbican Managing Agency Ltd., Lloyd’s Syndicate …

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Space Insurance Premiums Could Double After European Vega Rocket Crash

Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …

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Allstate Says Q2 Results Reflect Strategy Momentum

The Allstate Corp. said its second quarter results show that its strategy of increasing its market share in property and liability insurance products while also expanding into other protection products is working. Overall net income was $821 million compared to …

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Businesses Believe Cyber Insurance Covers More Than It Does: Survey

Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee, however, are rarely covered …

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Swiss Re-Backed Insurer FWD Eyes China Expansion Ahead of Potential IPO

Fast-growing insurer FWD is seeking to launch operations in China ahead of any public offering and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the region’s insurance sector. FWD, controlled …

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Swiss Re H1 Profit Takes Hit from Ethiopian Airlines Crash, Grounding of Boeing 737 MAX

Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from last year’s …

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University Lawsuit Accuses Big Retailers of Infringing ‘Reinvented’ Light Bulb Patent

Five major retailers, including Amazon.com Inc and Walmart Inc, were sued on Tuesday by the University of California over what it called the “existential threat” when foreign manufacturers infringe schools’ patents. Amazon, Walmart, Target Corp., Ikea AB and Bed Bath …

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The Hilb Group Acquires Rhode Island’s Damiano Agency

The Hilb Group LLC (THG) has acquired Rhode Island-based Damiano Agency (DA). The transaction became effective July 1, 2019. For more than 30 years, DA has been delivering property and casualty insurance for businesses and individuals in the Rhode Island …

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Capital One Investors Wary of Reputational Impact of Data Breach

Capital One Financial Corp.’s assurances that a major data breach would have a limited impact on customers or profit failed to convince investors on Tuesday, with the bank’s shares closing down 5.9%. Capital One said the prior day that 106 …

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Congress Looks to Jump Start Stalled Driverless Vehicle Bill

Two key committees in the U.S. Congress on Tuesday said they will revive efforts to pass long-stalled legislation to speed the adoption of self-driving cars. The House Energy and Commerce Committee and Senate Commerce Committee sent automakers, safety groups and …

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Vermont Water System Operators Told to Test for PFAS Contamination

The Vermont Agency of Natural Resources says it has notified public drinking water system operators to start testing for a class of potentially toxic chemicals. It said that the move is part of an expanded effort to identify sources of …

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Moody’s Acquisition Could Signal Shift in Pricing of Climate Risk: Viewpoint

The acquisition of California-based Four Twenty Seven, Inc., by Moody’s Corporation could signify the beginning of a major shift in how markets price risks related to climate change. Up until now, these risks largely have been absent from investors’ models, …

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Sexual Harassment Scandal Rocks Florida CFO’s Office; Banking Regulator Fired

The Florida Cabinet fired the state’s top banking regulator last week, a week after the release of a state investigator’s report asserting that the official misused his public office and subjected women to sexual harassment. The firing of Financial Regulation …

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Kentucky Teen’s $250M Defamation Suit Against Washington Post Dismissed

A federal judge has thrown out a Kentucky teen’s lawsuit accusing the Washington Post of falsely labeling him a racist following an encounter with a Native American man at the Lincoln Memorial. Nicholas Sandmann, a student at Covington Catholic High …

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Why Agencies Shouldn’t Be Afraid of Insurtech and Need to Adopt It – Now

There’s been a barrage of insurtech products hitting the market for several years now, creating confusion for some agency owners trying to decipher what is relevant to them, how to implement these products and whether to wait for new agency …

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Epoq Legal Introduces Business Risk Protection Service for Legal Claims

Insuretech service provider Epoq Legal has rolled out a new service designed for small- to medium-sized enterprises as either an optional or mandatory product sold alongside insurance and financial services products. The product was designed to help SMEs become more …

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North Carolina Residents Hit by 2 Hurricanes Still Waiting on Long-Term Aid

The heating and air conditioning in Carrie Johnson’s home – damaged by Hurricane Matthew in 2016 – still wasn’t fixed when Hurricane Florence flooded her house last September. Now, her home of over 50 years is gutted, the flooring and …

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Willis Towers Watson, Lockton, Markel International Appoint New Cyber Chiefs

Willis Towers Watson, Lockton and Markel International each have appointed new cyber chiefs. Willis Towers Watson has appointed Peter Foster as chairman of Global FINEX Cyber and Cyber Risk Solutions. Foster has been with WTW for more than 14 years …

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New Norman-Spencer Insurance Program Targets Delayed Real Estate Closings

Norman-Spencer Agency, based in Dayton, Ohio, is now offering an insurance program that provides expense coverage due to closing delays for home buyers — Insure My Closing. The new program is backed by an A++ rated carrier and is available …

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Detroit Company to Pay $120K to Settle Pregnancy Discrimination Suit

Federal officials say an airline ramp and cargo handling company that operated at Detroit Metropolitan Airport will pay $120,000 to settle a pregnancy discrimination lawsuit. The suit filed by the U.S. Equal Employment Opportunity Commission (EEOC) charged that Simplicity Ground …

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Third Round of Flooding, Cleanup Takes Toll on Iowa Merchants

A third bout of flooding and cleanup is taking a toll on people who operate some small businesses along Iowa Highway 2 in southwestern Iowa. They heavily rely on north-south traffic from nearby Interstate 29 and on westbound travelers being …

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Rice U. Says its Plan to Protect Houston From Hurricanes Better Than $20B Coastal Barrier

For about a decade, two of Texas’ top universities have pushed dueling plans to protect the Houston-Galveston region from hurricanes. A concept championed by Texas A&M University at Galveston appears to be winning out as the federal and state governments …

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With $100M in New Financing, Digital Agency Hippo Plans Further U.S. Expansion

Online insurance agency Hippo Insurance said it has secured a $100 million financing round that will help propel a broader U.S. expansion of its super-quick online homeowners insurance. Global technology investment firm Bond led the Series D financing, which also …

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Trial in Deadly Northern California Warehouse Fire Wraps up

The trial against two men arrested after a deadly warehouse fire in the San Francisco Bay Area is wrapping up. Prosecutors began closing arguments Monday against Derick Almena and Max Harris, both charged with involuntary manslaughter after the December 2016 …

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U.S. Urges Ships to Keep Tracking Devices Turned on for Safety, Transparency

The United States wants all ships to keep their tracking transponders on to cut down on illicit activity and smuggling, and to increase transparency with movements of ships around the world, a senior State Department official told Reuters. Automatic identification …

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U.S. Captives Remain Profitable, Outperform Commercial Casualty Insurers, Reports A.M. Best

U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according to an A.M. Best special report. The new …

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Misdiagnosis a Leading Cause of Medical Malpractice Claims, Studies Show

Two recent research papers both point to the significance of diagnostic errors as a source of medical malpractice claims. A peer-reviewed paper published in Diagnosis on July 11 found that inaccurate or delayed diagnoses were cited in 34% of medical …

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Big I New York Welcomes Lombardo as AVP of Learning and Development

Big I New York has welcomed Jim Lombardo as the association’s AVP of Learning and Development. Lombardo will be responsible for expanding the association’s education and research offerings to meet the needs and expectations of 21st century learning. Lombardo joins …

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Man Charged with Arson After Maine Business Fire Causing $150K in Damages

Prosecutors in Maine say a man has been charged with arson in connection with a fire that badly damaged two businesses in the northern part of the state. The Bangor Daily News reports Cody Ferguson has also been charged with …

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Massachusetts Hearing into RMV Lapses Exposed by Deadly Crash Resumes

Massachusetts lawmakers will again attempt to hold a hearing into lapses at the state motor vehicle department exposed by a New Hampshire crash that killed seven motorcyclists. The Legislature’s Joint Committee on Transportation will reconvene its hearing into the Registry …

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NiSource Settles Massachusetts Gas Explosion Lawsuits for $143M

Utility operator NiSource Inc on Monday said it will pay $143 million to resolve class action lawsuits brought by residents and businesses that suffered losses caused by a series of gas explosions in three Massachusetts communities last year. NiSource and …

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Viewpoint: What Insurance Industry Should Acknowledge About Small Business Cyber Risk

The 2018 Verizon Data Breach Investigations Report cited that 58% of cyber-attack victims were small businesses, and the 2019 Symantec Internet Threat Report stated that employees working at small businesses were more likely to be targeted by email threats (e.g., …

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Florida Regulator Approves Post-AOB Reform Rates for Citizens Policyholders

Florida’s insurance regulator has established 2019 rates for Citizens Property Insurance Corp. after the insurer resubmitted its rate filing as part of a requirement of the new assignment of benefits law that adjustments be made to proposed policyholder rates this …

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UK Recorded Highest-Ever Temperature in Last Week’s Heatwave

The U.K. was never hotter. Last week temperatures reached 101.6 degrees Fahrenheit (38.7 Celsius) at the Cambridge Botanic Garden on July 25, the highest ever recorded in the U.K., according to a statement from the Met Office. Sweltering temperatures gripped …

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UK Aims to Renegotiate a Brexit Deal – with Resistant EU

UK Prime Minister Boris Johnson will spend the next few weeks pressing the European Union to negotiate a better Brexit deal, his office said, while preparing the country to leave the bloc in case he fails. A messy no-deal divorce …

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Chubb Names Kopp Head of A&H for APAC, Nisbet Appointed Thailand Country President

Chubb announced two leadership appointments for the company’s Asia Pacific business, which are effective from Oct. 1, 2019. Edward Kopp, currently country president of Chubb’s general insurance business in Thailand, has been appointed to the position of senior vice president, …

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Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective

Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its customers with a …

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The Buckner Co. in Utah Names Kupfer Chief Sales Officer of Employee Benefits

The Buckner Co. has named Brad Kupfer chief sales officer of employee benefits. Kupfer will manage Buckner’s sales process for employee benefits in six offices. As a member of the senior executive team, Kupfer will help set the company’s strategy …

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Nearly $2M Related to North Carolina Insurance Donor Bribery Case Taken by Feds

Federal authorities have grabbed nearly $1.5 million that a North Carolina insurance magnate intended to use as political donations, arguing the funds may be forfeited for an attempt to bribe the state’s top insurance regulator. Federal court records unsealed Friday …

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Capital One Reports Data Breach of 100 Million Accounts; Hacker Arrested

Capital One Financial Corp. said on Monday personal information including names, addresses, phone numbers and credit scores of about 100 million individuals in the United States and 6 million people in Canada were obtained by a hacker who has been …

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Authorities: Texas Woman Cooked Up Raw Beef Insurance Scam

Authorities are accusing a Texas woman of taking part in an undercooked scheme in which she claimed she was served raw hamburger meat at two different locations of a fast food chain. Cassandra Brooks, a former lieutenant with the Texas …

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Argo Group Warns Q2 Earnings Will Take a Hit

Argo Group International Holdings Ltd. is warning that its results for its 2019 second quarter will take a hit due to losses affecting operations in London, Europe and Bermuda. Issues at play include: Prior year losses of about $22.5 million, …

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EPA Official: Montana Site Suited for Superfund Status

A U.S. Environmental Protection Agency official says a Montana area emitting toxic vapors is a candidate to become a federal Superfund site. The Billings Gazette reports contaminants from old dry cleaning solvents are evaporating at several spots in an 855-acre …

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Oregon Lagging on Disaster Preparedness, Scientists Warn

Oregon state lawmakers abandoned a multimillion-dollar project to develop early warning systems for earthquakes and wildfires, and scientists warn that the funding shake-up could endanger public safety and put Oregon further behind other West Coast states in preparing for natural …

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High Levels of Global Insurtech Investments Continued During Q2: WTW

Insurtech investment worldwide continued at high levels during the second quarter of 2019, marking the fourth consecutive quarter during which total new funding commitments exceeded $1.2 billion, according to the new Quarterly InsurTech Briefing from Willis Towers Watson. The report …

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Schools, Lawmakers, Tech Firms Taking Steps to Curb Rising Cyberbullying

Rachel Whalen remembers feeling gutted in high school when a former friend would mock her online postings, threaten to unfollow or unfriend her on social media and post inside jokes about her to others online. The cyberbullying was so distressing …

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Alex and Ani Jeweler Alleges Lending Gender Bias by Bank of America

A few short years ago, jewelry maker Alex and Ani LLC was the public example of a happy Bank of America Corp. customer. Now, it’s suing the lender for more than $1 billion in damages and alleging discrimination. The female-led …

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New Connecticut Task Force to Begin Study of PFAS Chemicals

A new interagency task force will soon begin work on a plan to minimize the impact of a group of potentially dangerous industrial compounds known as “forever chemicals” on Connecticut residents. The group of about 20 state officials representing 18 …

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Rhode Island AG Gains Access to Nearly 70 Years of Records from Diocese of Providence

As part of an ongoing review of allegations of clergy child sexual abuse within the Diocese of Providence, Rhode Island Attorney General Peter F. Neronha has entered into a Memorandum of Understanding (MOU) with the Bishop of Providence that will …

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Arthur J. Gallagher & Co. Acquires Maryland’s The Novick Group

Arthur J. Gallagher & Co. has acquired Rockville, Md.-based The Novick Group Inc. Founded in 1987, The Novick Group is a retail property and casualty broker focused on providing insurance products and services to nonprofits and association clients throughout the …

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S. Korea Balcony Collapse Kills 2, Injures 16, Including U.S., Other International Athletes

A balcony inside a nightclub in South Korea collapsed on Saturday, killing two people and injuring 16, including American and other athletes at the world swimming championships, officials said. Hundreds were at the nightclub in the southern city of Gwangju …

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Tropical Storm Erich Forms, Expected to Become Hurricane as It Heads Toward Hawaii

Tropical Storm Erich has formed in the Pacific far off the western coast of Mexico and is predicted to become a hurricane by Monday night as it moves over open waters on a path that could take it near the …

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Wind Could Spread Oil Leak from Pertamina’s Undersea Well in Indonesia

Wind is threatening to spread a growing 52-mile (84-kilometer) oil sheen in Indonesia from an undersea well that began leaking about two weeks ago into the Java Sea. State crude producer PT Pertamina plans to install more booms in the …

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Judge Reduces $2 Billion Roundup Jury Verdict to $86 Million

A California judge on Thursday reduced a $2 billion jury verdict, slashing the award for a couple who blamed Bayer AG’s glyphosate-based weed killer, Roundup, for their cancer to $86.7 million. Superior Court Judge Winifred Smith of the California Superior …

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AXA XL Appoints 3 Senior Executives to London Reinsurance Team

AXA XL announced three senior appointments to its London Reinsurance team, with the promotion of Megan Kempe, coupled with the additions of Nick Pascall and Conor Gaffney. Kempe has been promoted to head of US Property London, effective Sept. 1. …

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No-Deal EU Exit ‘Now a Very Real Prospect’, Says Head of Newly Formed Brexit Cabinet

U.K. Prime Minister Boris Johnson’s high-level Brexit cabinet holds its first meeting Monday, and will gather every day to ensure the country leaves the European Union on Oct. 31. Michael Gove, named to a job that makes him Johnson’s top …

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1K Guests at Hotel Near Florida SeaWorld Evacuated After Room Fire

Officials say more than 1,000 guests were temporarily evacuated from a Florida hotel near SeaWorld after a fire broke out in a room. Orange County Fire Rescue posted on Twitter that Thursday morning’s blaze at the Renaissance Orlando hotel was …

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Florida-Based Insurance Office of America Names Peters SVP of Operations

Insurance Office of America has added operational leader Robert J. Peters to its Longwood, Fla., headquarters. Peters joins IOA’s growing team as senior vice president of insurance operations, a newly created enterprise role focused on driving operational standardization and efficiency …

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Insurer Pulls Plug on Socially-Conscious Investment Platform Targeting Millennials

In 2017, Pacific Life Insurance Co. introduced a socially conscious, online investing platform tailored to thirtysomethings eager to use their assets to make the world a better place. Those investors proved more expensive and rare than the company thought, and …

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CopperPoint in Arizona Names Boca-Bommarito Assistant Vice President

CopperPoint Insurance Cos. in Phoenix, Ariz. has named Paula Boca-Bommarito assistant vice president, enterprise brand and community strategy. Boca-Bommarito has experience in corporate responsibility, strategic planning and event management. She was most recently executive director of the Arizona Chapter of …

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From Entering Confined Spaces to Painting Large Buildings, Drones Take On Riskiest Jobs

Here’s a job any worker would be happy to pass off to a drone: Imagine crawling down a ladder into the vast darkness of a 20-story-high storage tank filled with toxic chemical fumes to spend hours searching for corrosion. More …

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Costs, Underinsurance Bigger Challenge Than Uninsured in U.S. Health System

America’s much-maligned health care system is covering 9 out of 10 people, a fact that hasn’t stopped the 2020 presidential candidates from refighting battles about how to provide coverage, from Bernie Sanders’ call for replacing private insurance with a government …

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Car Thefts Up 60% in Southwest Georgia City

Police in one southwest Georgia city say they’re seeing a spike in stolen cars. Albany police say vehicle thefts are up 60 percent so far over the same period a year ago. That’s 159 vehicles reported stolen so far this …

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Union Not Siding with Rideshare Operators on California Labor Law

Uber and Lyft suffered a setback in their months-long fight against rules that could force them to reclassify California drivers as employees. The ridesharing companies, along with other businesses that depend on gig-economy work, have been talking with unions about …

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Amazon Should Be Held Partially Responsible for Third Party Sellers: Viewpoint

One day in January 2015, Heather Oberdorf took her dog for a walk, using a $20 retractable leash she had bought from Furry Gang, a third-party seller on Amazon. It did not go well: her dog lunged, causing the collar …

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Allergan Halts Sale of Textured Breast Implants Linked to Cancer by FDA

Allergan Plc will stop selling some breast implants after the U.S. Food and Drug Administration said that textured implants had been associated with a rare type of blood cancer. Allergan’s textured Biocell saline-filled and silicone-filled breast implants and tissue expanders …

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Risk Strategies Acquires Connecticut’s Gerard B. Tracy Associates

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has added to its employee benefits practice with the acquisition of Gerard B. Tracy Associates Inc. Based in Fairfield, Conn., Gerard B. Tracy Associates Inc. was founded in …

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Massachusetts Governor to Seek Disaster Declaration for Cape Cod Tornado

Massachusetts Governor Charlie Baker says he’ll seek a federal disaster declaration to support cleanup and recovery efforts on Cape Cod after a tornado and high winds caused extensive damage and knocked out power to tens of thousands. The Republican on …

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Schwab to Buy USAA Investment Management Firm’s Assets for $1.8 Billion

The Charles Schwab Corp. has agreed to acquire assets of USAA’s investment management company, including brokerage and managed portfolio accounts, for $1.8 billion in cash. The companies have also agreed to enter into a long-term referral agreement that will make …

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OSHA Fines Virginia Shipbuilder More Than $13K for Safety Violation

The Occupational Safety and Health Administration has fined Newport News Shipbuilding more than $13,000 for a safety violation after investigating the death of an employee. However, the violation was unrelated to the death. The Daily Press of Newport News reports …

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Bank Drops Objection to Financing Request by Bankrupt Philadelphia Energy Solutions

A bank dropped its objection on Tuesday to Philadelphia Energy Solutions Inc’s initial bankruptcy requests after the two sides struck an agreement over the terms of new financing. PES filed for Chapter 11 bankruptcy protection on Sunday after a fire …

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Data-Deprived Auto Insurers Cautious About Discounts for Advanced Safety Features

Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise control. The global market for advanced driver assistance systems, known …

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Risk of No-Deal Brexit Rises as EU Rejects PM Johnson’s Demands for Better Exit Deal

The scale of the challenge facing Boris Johnson to break Britain’s political deadlock was laid bare in his first days as prime minister, as the European Union immediately rejected his demands for a better Brexit deal. Johnson told European Commission …

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African Telecom Firm Africell Plans to Expand in Micro-Insurance, Mobile Payments

African telecom firm Africell plans to spend part of a $100 million U.S. credit line on expanding its infrastructure and fintech services, its chief executive said on Friday. The 18-year-old company, which has 15 million subscribers across its four African …

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CFC Underwriting Taps Francis from Aon/Stroz Friedberg as Cyber Claims Director

CFC Underwriting, the London-based managing general agent that specializes in emerging risks, announced the appointment of Roger Francis as Cyber Claims director. Francis will lead CFC’s cyber claims and incident response organization, as well as oversee CFC’s cyber risk management …

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Ohio State Hit With More Suits by Ex-Athletes Over Sex Abuse by Team Doc

More former football players and other ex-athletes are suing Ohio State University over allegations that they were sexual assaulted by a university doctor during exams decades ago. Like at least a six other pending federal lawsuits, the case filed Monday …

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Iowa’s Holmes Murphy Names McCarty New Chief Strategy Officer

Waukee, Iowa-based Holmes Murphy has added Lori McCarty as chief strategy officer (CSO). McCarty brings more than 25 years of financial services experience at both small and Fortune 500 and 100 companies. McCarty joins Holmes Murphy with a breadth of …

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Houston’s Dean & Draper Insurance Agency Joins Assurex Global

Houston-based Dean & Draper Insurance Agency has become a partner in Assurex Global, the privately held commercial insurance, risk management and employee benefits brokerage group. The firm is now one of 108 independent brokerages that are Assurex Global partners around …

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Georgia Reports Drop in Arson Fires in First Half of 2019

The Georgia State Fire Marshal’s Office, part of the Georgia Department of Insurance, said of the 215 fires investigators responded to in the first half of 2019, 30% (65) of those fires have been ruled arson. These numbers are down …

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West Virginia Jury Finds Bar, Landowner Responsible in Drunken Driving Death

A jury says a now defunct West Virginia bar and the company that owned the land under the bar are mostly responsibly in a drunken driving death. The Journal of Martinsburg reported Tuesday that Dirty Dawg Saloon LLC was found …

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Sparks, Sonderman to Lead Alabama-Based Cobbs Allen Specialty Insurance Brokerage

Cobbs Allen has hired industry veterans Paul Sparks and Darren Sonderman to lead its new specialty insurance brokerage. Sparks and Sonderman each bring more than 25 years of experience from founding and leading the Financial Services Division of McGriff, Seibels …

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17K Oysters Stolen from Florida Seafood Company

Pensacola Bay Oyster Co. posted photos on Instagram of more than 35 empty bags that were tossed into a wooded area along the beach in East Bay on Tuesday. They’re offering a reward for information that leads to the arrest …

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Wildlife Protection Rezoning Could Mean Flood Insurance Aid for 900 Coastal Mansions

On an exclusive Connecticut peninsula, where signs warn outsiders to stay off private roads, eight multimillion-dollar homes with sprawling yards along the Long Island Sound are poised to become eligible for taxpayer-funded disaster aid. That’s despite the fact that the …

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Lawmakers Request McDonald’s Provide Update on Anti-Harassment Policy

Several dozen U.S. Representatives have sent a letter to McDonald’s Corp. Chief Executive Officer Steve Easterbrook asking for a progress report on the company’s efforts to combat what workers say is sexual harassment. In a letter dated July 23, Rep. …

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Droz Joins Alliant Insurance Services in San Francisco

Michelle Droz has joined Alliant Insurance Services in San Francisco as vice president in the company’s Employee Benefits Group. She has 25 years of experience in the employee benefits field. Prior to joining Alliant, Droz was partner and senior vice …

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Colorado Company to Pay $82.5K to Settle Federal Discrimination and Retaliation Lawsuit

A Colorado plumbing and mechanical contracting services provider has agreed settle a settle a national origin and color discrimination and retaliation lawsuit filed by federal officials for $82,500. In addition, AMI Mechanical Inc. will furnish other relief to settle the …

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U.S. Appeals Court: Ohio Work Comp Solicitation Ban at Odds with U.S. Free Speech Law

In siding with a law firm in a case involving access to workers’ compensation claimant information and the use of that information for solicitation, the U.S. Court of Appeals for the Sixth Circuit has declared provisions of an Ohio state …

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Why Chinese Crypto Entrepreneur Was No-Show for $4.5M Buffett Charity Lunch

Chinese cryptocurrency entrepreneur Justin Sun, who cited health issues in postponing his charity lunch with Warren Buffett this week, issued a broad apology to just about everyone for touting the plan to dine with one of America’s richest people, noting …

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Insurers Owed $20 Billion File Own Rescue Plan for PG&E in Bankruptcy Court

Insurance companies that say Pacific Gas & Electric owes them more than $20 billion from wildfire claims wants to take over the California utility and pull it out of bankruptcy. The group of insurers filed court documents Tuesday seeking to …

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New York’s Kingstone Insurance Company to Exit Commercial Liability Lines

Kingstone Companies Inc., a Northeast regional property and casualty insurance holding company, has announced that its wholly owned subsidiary, Kingstone Insurance Company (KICO), has decided to no longer underwrite commercial liability risks. These include business owners, artisans (CraftPak), special multi-peril …

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Charges Dismissed Again in Deadly Philadelphia Amtrak Crash

For the second time, a Philadelphia judge has dismissed all criminal charges filed against an Amtrak engineer in a deadly high-speed derailment in Philadelphia that killed eight and injured about 200 people. The decision Tuesday followed defense arguments that any …

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More Than 67K Still Without Electricity in New Jersey Following Storms

More than 67,000 homes and businesses in New Jersey are still without electricity two days after a line of thunderstorms downed trees and power lines. Most are Jersey Central Power and Light customers in Monmouth and Ocean counties. Public Service …

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High Winds, Tornado Rip Off Cape Cod Hotel Roof, Lead to Power Outages

High winds and one radar-confirmed tornado ripped off a hotel roof, downed trees that blocked roads, and knocked out power to thousands on Cape Cod on Tuesday during the peak of tourist season. A tornado struck Yarmouth just after noon, …

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ProSight Prices IPO at $14 per Share

Specialty insurer ProSight Global announced the pricing of the initial public offering (IPO) of 7.8 million shares of common stock at a price to the public of $14.00 per share. The shares are expected to begin trading on the New …

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Chubb Q2 Saw Net Income Dip, Premium Growth

Global insurer Chubb’s saw its net income dip slightly and its P/C combined ratio nudge higher during the 2019 second quarter, but price increases led to solid premium gains. “This quarter was about growth and pricing and we have good …

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H1 Natural Disasters Cost Global Insurers $20B, Down 26% from 18-Year Average: Aon

Global insured losses from natural disasters during the first half were estimated at US$20 billion, which is 26% lower than the H1 average of US$27 billion seen during the years 2000-2018, according to Aon’s “Global Catastrophe Recap: First Half of …

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Allergan Announces Global Recall of Textured Breast Implants

Allergan Plc said on Wednesday it was recalling its Biocell textured breast implants and tissue expanders across markets, citing concerns over a rare form of cancer, after the U.S. health agency asked the drugmaker to pull the products. The Food …

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Aon Names Barrett Regional Managing Director EMEA, Captive & Insurance Mgmt.

Aon has appointed Vincent Barrett as regional managing director EMEA for its Captive & Insurance Management business. In his new role, he will serve as account chair on numerous complex global client accounts and lead the captive business development team …

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French Reinsurer SCOR Reports 9.2% Rise in Net Profit During 1st Half

French reinsurer SCOR said its net profit for the first half rose 9.2% from the same period a year ago, helping the company meet financial targets it set three years ago. SCOR’s net profit in the first half rose to …

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African Swine Fever Detected at Another Bulgarian Pig Farm

Bulgaria has detected another outbreak of African swine fever at a pig breeding farm near the north eastern city of Ruse, after the deadly virus was discovered earlier this month, the food safety agency said on Wednesday. That was the …

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HDI Global Specialty Buys Specialist Swedish MGA, Svedea AB

HDI Global Specialty SE has strengthened its position in Sweden with the acquisition of alternative specialty lines managing general agent, Svedea AB. Svedea is one of the three largest insurers of yachts, motorcycles and snowmobiles in the Swedish market, with …

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N.Sure Opens All Digital Home, Auto Insurance Agency in Florida

Boca Raton, Fla.-based Nsure.com has launched an online, digital home and auto insurance agency in Florida that offers comparison quotes from more than 25 insurers. The new, fully-licensed company’s technology gives instant quote comparisons through a user-friendly digital platform that …

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North Carolina College Requests Camping Shooting Suit Be Dismissed

A North Carolina university is asking a federal judge to dismiss a lawsuit stemming from a fatal shooting on its campus in 2018. The Winston-Salem Journal reports that Wake Forest University is disputing the allegations lodged by Jemel Dixon, the …

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Lyft Vows to Make Driverless Data Public

Lyft Inc. is making research data on self-driving technology available to the public in a bid to accelerate the development of robotic cars, which is seen as critical to the ride-hailing giant’s future viability. Billing it as the largest such …

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Democrats File Bills in House, Senate to Legalize, Tax Marijuana

Bills that would legalize and tax marijuana at the national level, and provide opportunities for people convicted of federal pot crimes to clear their records, were introduced Tuesday in Congress. The companion legislation in the House and Senate were introduced …

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Pets Account for Nearly 400 Workers’ Comp Claims A Year in Oregon

Slip and falls, flying tools, poor posture. The workplace can be dangerous, and now you can add pets to the risks that Oregon workers face. Dogs and cats have accounted for more than 1,900 claims since 2014 received by SAIF, …

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J&J Questions Methods Used by Scientists Who Claim Baby Powder Had Asbestos

Johnson & Johnson, seeking to head off claims by thousands of women that its iconic Baby Powder caused their cancer, took aim at some of the science cited in lawsuits alleging the company’s talc-based products were tainted in the past …

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Washington Commissioner Fined Carriers, Producers and Others $724K in June

Washington Insurance Commissioner Mike Kreidler disciplined and issued fines in July totaling $724,000 against insurance companies, agents and brokers and others who violated state insurance regulations. Following are the names and fines provided by Kreidler’s office: Insurance companies Molina Healthcare …

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2019 Deadliest Boating Year On Alabama’s Lakes, Rivers Since 1998

Alabama has already had its deadliest year in two decades for boaters – and the summer isn’t nearly over yet. Boating accidents in the first 6 1/2 months of 2019 have killed 25 people, Al.com reported . Already, that makes …

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Powerful Storms Leave Many Without Power in New Jersey

Crews are working to restore electricity for hundreds of thousands of people in New Jersey after powerful storms blew across the state. Utilities say 246,193 homes and businesses were without service Tuesday morning. At one point Monday, more than 300,000 …

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U.S. Announces $5 Billion Fine Against Facebook, Other Privacy Settlement Terms

Facebook Inc. will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and the social media giant will restructure its approach to privacy, the U.S. Federal Trade Commission said on Wednesday. The FTC voted …

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Insurance Agency Mergers Hit Near-Record in First Half 2019

There were 328 announced U.S. and Canadian insurance agency mergers and acquisitions during the first half of 2019, the second-highest six-month total, trailing only the first half of 2017 when 333 transactions were reported, according to OPTIS Partners’ M&A database. …

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Key Finance Committee Senators Unveil Bipartisan Drug Price Bill

The top Republican and Democrat on the U.S. Senate Finance Committee announced a proposal to lower prescription drug prices on Tuesday that could save $100 billion in costs to government healthcare programs, and said the committee would vote on the …

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Hiscox Offers New Security Product for Ships Seized by Nation States

Specialist insurer Hiscox has developed a new security product designed to help protect shipping targeted by nation states. Called “Malicious Vessel Seizure,” the will respond to a single peril of a ship taken by a foreign government, providing loss of …

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Rhine River Shipping Faces Another Historic Shutdown as Drought Hits Water Levels

The bustling boat traffic on Europe’s Rhine river ground to a halt for the first time in living memory last year, as shrinking alpine glaciers and severe drought made the key transport artery impassable. Those historic conditions could be repeated …

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Hiscox Appoints Hughes as Managing Principal for Insurance-Linked-Securities Unit

Specialist insurer Hiscox has promoted Andrew Hughes to the role of managing principal, Hiscox ILS. His appointment is subject to Department of Immigration and Bermuda Regulatory approval. Hughes has been with Hiscox ILS in Bermuda since 2015, working as general …

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Cost of Norsk Hydro Cyber Attack Higher than Expected at Nearly $75 Million

Aluminum producer Norsk Hydro has managed to ramp up operations at its Alunorte refinery in Brazil despite a cyber attack in March, the firm said on Tuesday, boosting its shares. The Norwegian company’s stock rose as much as 6% in …

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Japan Post’s Share Sale Could Be Delayed by Scandal at Insurance Unit

The government’s plan to sell over $10 billion worth of shares in Japan Post Holdings Co. has been clouded by a scandal at its insurance unit. The subsidiary, Japan Post Insurance Co., is voluntarily refraining from active product sales amid …

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Madrid Court Rules Deliveroo Food-Delivery Couriers Are Employees, Not Freelancers

A Madrid court ruled on Tuesday that couriers for online food delivery group Deliveroo are company employees, not just freelancers, clearing the way for workers to demand a formal contract and corresponding benefits. So-called gig workers, such as food-delivery couriers, …

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Missouri Contractor Faces $212K in Penalties Over Trench Hazards

Federal workplace safety officials have cited a Missouri contractor for exposing employees to trench engulfment hazards and imposed more than $212,000 in penalties. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited R.V. Wagner Inc. – based …

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Flood-Hit Midwest Businesses Struggle to Bring Customers Back

Some Nebraska and Iowa businesses are still struggling to recover from flooding that damaged their properties or otherwise kept customers away from their doors. The Federal Emergency Management Agency estimated that in Nebraska alone, more than 1,000 businesses were affected …

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Oklahoma Manufacturer Cited, Fined $187K for Serious Workplace Hazards

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited HE&M Inc., a Pryor, Oklahoma-based metalworking band saw manufacturer, for exposing employees to fall, machine guarding, struck-by, and electrical hazards. HE&M faces penalties totaling $187,533. OSHA initiated …

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Surety Specialists Feighl, Hohlt Join EPIC in Houston

San Francisco-based EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has added Eric Feighl and John Hohlt in its Houston office. Feighl has joined the firm as a principal and Southwest Region …

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Ensurance Expands Terrorism, Sabotage Coverage to US; Hires 2 New Underwriters

Ensurance, the specialist MGA and Lloyd’s of London Coverholder, has launched a new terrorism and sabotage insurance offering for the U.S. market. The product will support the U.S. property market and is backed by an A-rated London company and Lloyd’s …

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J.M. Wilson Promotes Tucker-Lorenz to Surety Underwriter in Indiana

J.M. Wilson has promoted Shelly Tucker-Lorenz to surety underwriter in its Carmel, Indiana, office. With this new role, she is responsible for underwriting new and renewal commercial and contract bonds, corresponding with carrier underwriters, and assisting independent insurance agents on …

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EEOC Sues McDonald’s Over Religious Discrimination Against Florida Job Applicant

The U.S. Equal Employment Opportunity Commission (EEOC) has sued the owner of multiple McDonald’s restaurants in Central Florida for violating federal law for refusing to hire a job applicant who would not shave his beard due to his religious beliefs. …

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Congress Passes Sept. 11 Victims Compensation Fund

The U.S. Senate voted to replenish a fund that provides lifelong medical help and other compensation for firefighters, police officers and other first responders affected by the Sept. 11 terrorist attacks, sending the long-stalled legislation to President Donald Trump. The …

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Roundup Not Only Monsanto Legal Woe For Bayer; PCB Claims Still Coming

The widening legal nightmare over Roundup weedkillers isn’t the only potential multi-billion-dollar liability Bayer AG inherited last year when it acquired Monsanto Co. While thousands of damage claims over Roundup have grabbed headlines and hogged the attention of investors, the …

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California Financial Advisor Sentenced to 10 Years for Embezzling $1M

California financial advisor Tom Fallon, 65, has been sentenced in Long Beach Superior Court after being convicted in an open plea of 25 criminal counts of money laundering and grand theft. Fallon was sentenced to 10 years and four months …

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Investigators Blame CSX Safety Lapses for Fatal Amtrak Collision in South Carolina

CSX Corp.’s lax approach to safety caused a fatal collision between a passenger train and one of the company’s parked freight trains last year, U.S. accident investigators concluded Tuesday. The National Transportation Safety Board cited what it called multiple layers …

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Addressing Florida’s Rising Tide of Flood Exposures

In the past five years, all 50 states have experienced some type of flooding. Flooding has led to disasters throughout the decades, and this year, it is expected to become unprecedented yet again. Despite a long history of flood-related disasters …

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California Commissioner and U.N. to Develop Sustainable Insurance Roadmap

The California Department of Insurance and the United Nations Environment Program on Tuesday announced the launch of a yearlong effort to develop a “Sustainable Insurance Roadmap” to confront California’s climate risks. Insurance Commissioner Ricardo Lara and Butch Bacani, who leads …

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Connecticut Consumers Urged to Review Policies Ahead of Storm Season

Connecticut Insurance Commissioner Andrew N. Mais is urging homeowners to review their insurance policies before the upcoming tropical storm season. Peak hurricane season in Connecticut begins in mid-August and runs through late October. Mais says policyholders should discuss with an …

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Pennsylvania Resort Employee Injured in Bear Attack During ‘Safari Tour’

Officials say a worker at a western Pennsylvania resort was injured in a bear attack while guiding a routine “Safari Tour” of wildlife kept at the property. Nemacolin Woodlands Resort says the Himalayan bear reached through a wire fence Saturday …

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More Funds Sought for Those Exposed to Radiation from Nuclear Weapons Test

A compensation program for those exposed to radiation from years of nuclear weapons testing and uranium mining would be expanded under legislation that seeks to address fallout across the western United States, Guam and the Northern Mariana Islands. U.S. Rep. …

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Philadelphia Energy Solutions Files for Bankruptcy After Refinery Fire

Philadelphia Energy Solutions filed for Chapter 11 bankruptcy protection, the company said on Monday, its second such filing in less than two years, after a fire last month prompted it to close the largest refinery on the U.S. East Coast. …

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Travelers Profit Up 6.3% in Q2 on Lower Catastrophe Losses, Higher Investments

The Travelers Companies managed to boost its net income to $557 million for the second quarter, six percent more than the $524 million in the prior year quarter. The insurer reported lower catastrophe losses and higher net investment income, partially …

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U.S. Close to $5 Billion Penalty Against Facebook Over Cambridge Analytica Data

The U.S. Federal Trade Commission is expected to announce a roughly $5 billion settlement with Facebook Inc. as early as this week of its investigation into the social media company’s handling of user data, two sources briefed on the matter …

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Equifax’s $700 Million Data Breach Settlement Criticized

Credit-reporting company Equifax Inc will pay up to $700 million to settle claims it broke the law during a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that was nonetheless criticized by consumer advocates and …

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Insurer Beazley’s 1st Half Earnings Nearly Triple on Higher Premium Rates

Lloyd’s of London insurer Beazley Plc said on Tuesday its first-half earnings nearly tripled from last year, as it wrote more policies at higher rates and said it expects double-digit premium growth over the year. While the industry has struggled …

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Death Toll Rises from Chinese Gas Plant Explosion

Authorities in central China said Sunday the death toll in a gas plant explosion has risen to 15 with another 15 seriously injured. Three people who were previously missing have been found dead, said local authorities. About 270 firefighters and …

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Driverless Bus Hits Pedestrian in Vienna, Halting Trials

Authorities are investigating why a driverless bus struck a pedestrian in Vienna, an incident that resulted in minor injuries but stopped Austrian trials of the technology. The Navya SAS vehicle was driving at 12 kilometers (7.5 miles) an hour on …

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UK Lawyers Could Be Forced Out of EU Courts with No-Deal Brexit

UK lawyers with lucrative careers in European Union law are fighting to save their jobs after the bloc’s top courts warned that a no-deal Brexit would forbid them from representing clients. In an April letter, a senior official at the …

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Britain Reviews How to Improve Financial Services Regulation After Brexit

Britain has kicked off a review of how regulation of finance could be improved after Brexit, saying it would not tweak the existing set-up of watchdogs introduced in the aftermath of the financial crisis a decade ago. The European Union …

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North Carolina Company Accused of Selling $4M in Mislabeled Meat as Blue Crab

A North Carolina seafood company has been charged with selling almost 200,000 pounds of foreign crab meat falsely labeled as domestic Atlantic blue crab for $4 million. Charges filed last month by the U.S. Attorney in the Eastern District of …

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Europe Faces Heatwave with London and Paris Expected to Break July Records

Europe is facing a second heatwave this summer, just weeks after the hottest June on record, intensifying concern over climate change and the rise in extreme weather events. Swathes of northwest Europe will struggle to remain cool as a blast …

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Greenlight Re Invests in New Zealand Insurtech Startup Cove

Greenlight Re Innovations (GRI), a subsidiary of specialist property and casualty re/insurer Greenlight Capital Re Ltd., announced it has made a strategic investment in Cove Ltd., a New Zealand-based personal lines managing general agent and Lloyd’s coverholder. The amount of …

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Brit Taps Birch from VC Firm Hambro Perks for Newly Created Role, Head of Innovation

Brit Ltd. announced that James Birch has been appointed to the newly created role of head of Innovation. Reporting to CEO Matthew Wilson, Birch started his new role on July 22. Birch will be responsible for managing the innovation process …

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New Barry Insured Loss Estimate: Not More Than $500M, RMS Says

Global risk modeling and analytics firm, RMS, has estimated that the insured U.S. losses from Hurricane Barry will not exceed $500 million. This estimate represents insured losses associated with wind, storm surge and inland flood damage, including losses to the …

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Two Workers Die After Being Trapped in Ohio Grain Silo

A shipping business in Ohio says two workers died after they were trapped in a silo filled with grain. The workers became trapped Friday morning inside the silo operated by The Andersons in Toledo. A Toledo fire department spokesman says …

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Botti Promoted to Assistant Fleet Underwriter at J.M. Wilson in Michigan

J.M. Wilson has promoted Stephen Botti to assistant fleet underwriter in its Portage, Michigan, office. Botti is responsible for assisting underwriters on a wide variety of commercial transportation risks, as well as quoting new and renewal business, corresponding with carrier …

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Garcia Tapped as Communications Director at Insurance Council of Texas

Camille Garcia has been named director of Communications and Public Relations for the Insurance Council of Texas (ICT). Garcia spent 20 years with State Farm Insurance and for 14 years she led its communications and philanthropic efforts in the California …

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Sage Program Underwriters Launches Workers’ Comp Program for Shooting Sports Industry

Sage Program Underwriters, Inc. has launched a new national workers’ compensation program for the shooting sports industry. The exclusive program targets all aspects of the industry including: Indoor & outdoor ranges Trap & skeet Sporting clays & five Sstand Ranges …

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FCCI Insurance Group Taps Burnside to Lead Southeast Region

Super-regional business insurance company FCCI Insurance Group has promoted Kimberly Burnside to Regional vice president leading the Southeast Region. She will be based out of Atlanta. Burnside has been with FCCI for nearly 3 years. She began as the managing …

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Duke Energy Sued Over Environmental Damage to Dan River from 2014 Coal Ash Spill

The federal, North Carolina and Virginia governments asked a court Thursday to declare the country’s largest electricity company liable for environmental damage from a leak five years ago that left miles of a river shared by the two states coated …

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Town Leveled by California Wildfire Reopens Its Public Pool

The public swimming pool in Paradise, California, is reopening for the first time since a catastrophic wildfire destroyed much of the town. CBS13 in Sacramento reports state firefighters used their hoses last week to refill the pool with clean water …

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Utah Medical Marijuana Program Getting on Track, 8 Growers Picked

Utah chose eight companies to legally grow medical cannabis for the first time in the conservative state, though the decision to award a smaller number of licenses raised concerns among advocates about whether supply would be robust enough. The state’s …

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Utility Customers Sue Over California Wildfire Law

Two Pacific Gas & Electric customers want the federal judge overseeing the company’s bankruptcy to strike down a new California law that Gov. Gavin Newsom has championed as a way of shoring up the state’s major electric utilities in the …

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Fire Forces Philadelphia Energy Solutions to File for Bankruptcy Again

Philadelphia Energy Solutions (PES) filed for its second Chapter 11 bankruptcy in less than two years on Sunday, a court filing showed, a month after a fire and explosion led to the permanent shutdown of the biggest oil refinery on …

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AIG Names Ling Chief Human Resources Officer

American International Group has named Karen L. Ling as executive vice president, chief human resources officer. Ling will lead AIG’s global human resources department and be responsible for aligning AIG’s talent strategy with the company’s long-term strategic, operational and financial …

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Safety Rules Proposed After Child Dies in Grease Trap at New York Restaurant

The death of a 3-year-old boy in a restaurant’s underground grease collection tank has prompted two state lawmakers to draft new safety legislation. Police say the child fell through an unsecured plastic cover over a grease trap behind a Tim …

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Court Orders New Jury to Review $1.8M Award in New Jersey Transit Bus Attack

New Jersey Transit may not be solely responsible for a $1.8 million jury award to a woman injured when a fellow bus passenger hit her with a bottle, a court has ruled. A state appeals court ruled this week that …

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Paris Court Rejects Compensation Claim from 1994 Estonian Ferry Disaster

A Paris court rejected a compensation claim Friday related to the 1994 sinking of an Estonian ferry, which remains one of Europe’s deadliest maritime disasters. The court ruled on the claim from more than 1,000 survivors and relatives of victims …

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U.S. Charges Ohio Opioid Distributor with Profiting from Epidemic

An Ohio drug wholesale distributor and two former executives on Thursday were charged with profiting from the U.S. opioid epidemic by selling millions of pills despite signs the addictive drugs were being misused. Federal prosecutors in Cincinnati charged Miami-Luken Inc. …

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Equifax’s $650 Million Data Breach Settlement Includes $300 Million for Consumers

Credit-reporting company Equifax Inc. will pay up to a record $650 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday. The largest-ever settlement for a data breach draws …

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RSA Names AXA’s Rueegg as Middle East CEO

RSA Insurance has appointed Martin Rueegg as the new chief executive of the Middle East and United Arab Emirates (UAE). Rueegg joins from AXA where he was general insurance managing director for Hong Kong. He replaces Lloyd East who moves …

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Liberty Specialty Markets Forms Cyber Centre of Excellence; Rigby Named Chief Cyber Officer

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jon Rigby to the newly created role of chief cyber officer. He will report to Peter Smith, executive underwriting officer. Rigby will be based in London and takes …

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Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter

DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, DARAG’s German carrier. The acquisition is subject to regulatory …

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China Opens Financial Sector to Increased Foreign Investment

China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry. Foreign investors can take a stake or control entities including wealth …

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Ryan Specialty Group Opens Barcelona Office, Focusing on Transactional Risk Business

Ryan Specialty Group announced it will open an office in Barcelona as the next step in the evolution of the company’s transactional risk business, expanding both geographically and by product offering. This office will be led by Luc Joordens and …

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French Bank Natixis Denies Reports of Takeover Talks for Credit Insurance Unit Coface

French bank Natixis said on Monday that it was not in talks over a possible takeover offer for Coface, the credit insurance subsidiary in which Natixis has a stake of around 41.7%. “Natixis states that, as previously indicated, its investment …

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Method Insurance Brings Specialty Workers’ Comp Program to Illinois

Method Insurance Service is expanding and offering its specialty workers’ compensation program for underserved high-hazard, debit mod, mid-market risks in Illinois. Method is a program administrator for Service American Indemnity Company and now offers workers’ comp in 16 states focused …

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Kentucky Supreme Court Rules Police Can Be Sued Over Deadly Car Chases

The Kentucky Supreme Court has ruled that police can be sued for damages when their car chases lead to the death or injury of third parties. The Lexington Herald-Leader reports the court’s 6-1 ruling last month overturned a 1952 decision …

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North Carolina Zoo Worker Killed During Rescue Drill

Officials at the North Carolina Zoo say a worker was killed after falling from a tree during a rescue drill. News outlets report the state Department of Labor says the zoo worker was an arborist participating in the aerial drill …

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Report: Florida Pill Mills Helped Fuel Opioid Crisis

Florida survives on tourism, but a decade ago thousands of visitors made frequent trips to the state not to visit its theme parks or beaches. Instead, they came for cheap and easy prescription painkillers sold at unscrupulous walk-in clinics. For …

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Google to Pay $11 Million to Settle Age Bias Employment Claims

Google agreed to pay $11 million to end a lawsuit accusing the internet giant of discriminating against older job applicants, a deal that amounts to an average payout of more than $35,000 for 227 people who joined the class action. …

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Chamber Legal Study Says Private Suits Over Privacy Don’t Help Consumers

Statutes allowing plaintiff lawyers to enforce privacy laws through private rights of action are clogging courts and provide no real benefit to consumers, a report from the U.S. Chamber of Commerce’s Institute for Legal Reform (ILR) claims. By contrast, privacy-related …

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Senate Vows to Vote This Week on Sept. 11 Victims Fund

The Senate will vote Tuesday on a bipartisan bill to ensure a victims’ compensation fund related to the Sept. 11 attacks never runs out of money, Senate Majority Leader Mitch McConnell said Thursday. The announcement came after Democratic Sens. Kirsten …

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Nevada Wants Feds to Restudy Seismic Risk at Nuke Dump Site

Nevada’s governor and congressional delegation are pointing to earthquakes this month in the California desert and calling for the U.S. Energy Department look again at seismic risks of burying the nation’s most radioactive nuclear waste at a site in the …

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Report: California Private Self-Insured Employers Comp Claim Frequency Rose Last Year

Workers’ compensation claim frequency reported by private self-insured employers in California rose last year, as the incidence of both indemnity and medical-only claims rose from the 2017 levels, the California Workers’ Compensation Institute reported. This is the second consecutive year …

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Investigation Uncovers Widespread Fraud in the New York City Towing Industry

The NYC Department of Consumer and Worker Protection (DCWP) Commissioner Lorelei Salas has announced an in-depth investigation into the tow truck industry that suggests widespread insurance and workers’ compensation fraud. DCWP is in the process of notifying approximately 130 tow …

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Hartford InsurTech Hub Opens Applications for Accelerator Program’s Third Year

Hartford InsurTech Hub, powered by Startupbootcamp, has opened applications for the third year of its accelerator program. Insurance Technology (InsurTech) startups that have shown strong traction and are looking to connect with several of the biggest insurance companies in the …

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Nuclear Industry Looks to Save Money Under Reduced U.S. Safety Oversight

Fewer mock commando raids to test nuclear power plants’ defenses against terrorist attacks. Fewer, smaller government inspections for plant safety issues. Less notice to the public and to state governors when problems arise. They’re part of the money-saving rollbacks sought …

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New Hampshire Committee to Consider Tough Water Standards for Chemicals

A New Hampshire legislative committee will consider a proposal to create some of the nation’s toughest drinking water standards for a class of toxic chemicals that have caused widespread contamination in the state. On Thursday, the New Hampshire Joint Legislative …

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Scholarship Organization Forms in Maine to Assist Children of Injured Workers

Representatives of employers, organized labor, insurance companies, plaintiff’s attorneys, medical providers and defense attorneys have formed Kids’ Chance of Maine to provide scholarships to the children of workers who have been seriously injured or killed on the job. The Maine …

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Expert Outlines 5 School Insurance Liability Issues to Watch

Lilian A. Vanvieldt, senior vice president, educational entities practice leader for the national insurance agency Alliant, has spent more than three decades insuring schools across the country. Her book of business spans from the small school district in Maine that …

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Regulatory Issues Causing Ping An-Backed Lufax to Exit P2P Lending: Reuters

Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance, plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters. The move by …

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Concern Over Pig Virus Prompts Philippines to Ban German Pork

The Philippines restricted pork imports from Germany, citing concerns about food safety in one of the world’s major shippers, as Asian countries battle to stop a deadly pig virus spreading. From July 2, the Philippines temporarily banned pork from German …

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Germany’s Merkel Says UK Should Be Given More Time for Brexit If Needed

German Chancellor Angela Merkel said the U.K. should be given more time to leave the European Union if it needs it, as she pointed to a way out of the Brexit impasse that falls far short of what the U.K.’s …

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U.K. Networks Could Become Less Secure If Is Huawei Banned , MPs Say

Barring Huawei Technologies Co. from operating in the U.K. could lower security standards and make networks less resilient to malicious attacks, according to Parliament’s intelligence and security committee, which urged the government to speed up its decision on the Chinese …

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Nutrien Says 34 Workers Trapped in Potash Mine in Saskatchewan Are Safe

July 3– Workers at Nutrien Ltd.’s Cory potash mine in Saskatchewan have been stuck underground since Tuesday afternoon, but are safe. The 34 maintenance workers became trapped underground after the service shaft stopped operating, Will Tigley, a spokesman for the …

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Judge Supports Reducing $2 Billion Damages in Bayer Roundup Glyphosate Case

Germany’s Bayer AG welcomed on Friday a call by a U.S. judge to cut a $2 billion damages award to a Californian couple by a jury which found that its glyphosate-based weed killer had caused their cancer. The company had …

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Catalina Holdings Appoints Ryland from Armour as Chief Executive of Catalina UK

Legacy acquisition firm Catalina Holdings (Bermuda) Ltd. announced the appointment of Steve Ryland as chief executive of Catalina UK. With over 30 years of insurance and reinsurance experience, Ryland joins the business from Armour where he was a member of …

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Mississippi City Sues FEMA for $15M Over Post-Katrina Recovery Project

A city on the Mississippi Gulf Coast is suing a federal agency that rejected expenses for a Hurricane Katrina recovery project. Biloxi is seeking $15.5 million from the Federal Emergency Management Agency for drainage, water and sewer systems, the Sun …

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Texas Supreme Court Closes ‘Trapdoor’ of Pretrial Negligence Admission Requests

Insurance companies should take note of a recent ruling by the Supreme Court of Texas that closes a “trapdoor” pretrial discovery gambit by plaintiffs’ lawyers that exposed defendants to sanctions for denying negligence in pretrial requests for admissions and then …

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Southern Fidelity Insurance Expands into Mississippi

Southern Fidelity Insurance Co. has expanded into Mississippi and will offer HO-3 homeowners coverage and customer service in the state. Southern Fidelity was founded in 2005 by Jimmy Graganella in Tallahassee, Fla. Since then, the company has grown its financial …

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Nearly 3 Dozen Injured in Scooter Crashes in North Carolina Cities Since 2018

State records show that nearly three dozen people have been injured in scooter crashes in two North Carolina cities since early 2018. Citing numbers from the N.C. Division of Motor Vehicles, The Charlotte Observer reports 16 people were hurt in …

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Risk Placement Services Expands Lawyers Liability Program to New York, Texas

Rolling Meadows, Illinois-based Risk Placement Services (RPS) has expanded its exclusive admitted lawyers professional liability program into New York and Texas, states considered to have the largest number of attorneys in the U.S. With the product expansion, independent agents and …

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Arthur J. Gallagher Acquires DPI Benefits in Kansas

Arthur J. Gallagher & Co. has acquired Manhattan, Kansas-based Darrell Phillips Inc., dba DPI Benefits. Terms of the transaction were not disclosed. Operating since 2008, DPI Benefits is an independent benefits broker and consultant offering qualified retirement plans and group …

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Chair Maker Blamed in Michigan Fire That Killed Record-Setting Cats

The suburban Detroit owners of two record-setting cats killed in a house fire have filed a lawsuit blaming the maker of a massage chair for the blaze. William and Lauren Powers of Farmington Hills seek more than $1 million in …

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Environmentalists Lose Bid to Restore EPA Ban on Chlorpyrifos Pesticide

The Environmental Protection Agency on Thursday said it will not ban the use of the pesticide chlorpyrifos, which has been linked to health issues in children, from use on U.S.-grown fruits and vegetables. The agency denied the petition by a …

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Hamilton Appoints Krishnamoorthy to Newly Created Role of Chief Technology Officer

Hamilton Insurance Group Ltd. announced that Venkat Krishnamoorthy has been appointed to the newly established position of chief technology officer. Reporting to Group CEO Pina Albo, Krishnamoorthy will be responsible for the ongoing development of the company’s data-driven technology strategy …

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Specialty Insurer ProSight Hopes to Raise $140 Million with IPO

ProSight Global Inc. announced its IPO terms, which include expectations of raising at least $140 million. The specialty insurer said the company’s initial public offering would involve more than 8.8 million shares of common stock. Broken down, ProSight is selling …

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No Workers’ Compensation Loss History? No Problem, Says Valen Analytics

Workers’ compensation carriers can now accurately score a policy even where there is no loss history on the account, according Valen Analytics, a data analytics and predictive modeling firm for the property/casualty insurance industry. Valen has released the latest in …

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New Jersey Man Charged in Murders Facing Insurance Fraud Charge

A New Jersey man charged with killing his brother and the brother’s wife and two children is facing a new charge of insurance fraud. The Monmouth County Prosecutor’s Office refused to give any details of the latest charge against Paul …

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Pennsylvania’s Harvey Insurance Group Rebrands as AssetSure

Harvey Insurance Group LLC (HIG), a West Chester, Penn.-based independent insurance agency, has changed its name and brand to AssetSure to more accurately reflect the company’s expertise in protecting the financial well-being of clients through alliances with financial advisors and …

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Teen Boy Dies After Accidental Fall During Pennsylvania YMCA Camping Trip

Authorities say a 15-year-old boy attending a teen wilderness camp in western Pennsylvania has died after he was injured during an outing. But it’s not yet known how the accident occurred. Authorities say the teen fell Monday and was flown …

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Cellphones Still a Flight Danger on Some Boeing Jets

U.S. government officials in 2014 revealed an alarming safety issue: Passenger cellphones and other types of radio signals could pose a crash threat to some models of Boeing 737 and 777 airplanes. More than 1,300 jets registered in the U.S. …

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Charles Schwab Eyes Purchase of USAA Wealth Management, Brokerage Units: WSJ

Charles Schwab Corp. is in talks to buy brokerage and wealth-management operations from USAA for about $2 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The deal, which could bring Schwab roughly $100 billion …

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Government Data Shows How Opioid Epidemic Spread Across America

Newly released federal data shows how drugmakers and distributors increased shipments of opioid painkillers across the U.S. as the nation’s addiction crisis accelerated from 2006 to 2012. The data, released this week by a federal court in Ohio as part …

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Legacy Acquirer DARAG Purchases Book of Run-Off Business from UK’s One Re

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into agreement to buy a book of run-off business from One Re Ltd., a London-based non-life reinsurance company. The transaction will be conducted through DARAG’s German risk carrier, DARAG …

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No-Deal Brexit Could Push UK Economy into Recession, Says Fiscal Watchdog

A no-deal Brexit could plunge the British economy into recession, hammer the pound and drive up government borrowing, according to the U.K fiscal watchdog. The analysis from the Office for Budget Responsibility is based on the “less disruptive” of two …

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Bulgaria Fights Spread of African Swine Fever

Bulgaria has stepped up measures to prevent the spread of deadly African swine fever and protect the country’s 600-million lev ($344 million) pig-breeding industry, the agriculture minister said on Wednesday. The highly contagious disease, which is incurable in pigs but …

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Allied World CEO Carmilani Moves to New Role at Fairfax; Iglesias Named His Successor

Scott Carmilani, the founder and CEO of Allied World, has moved to a new role Fairfax Insurance Group, which aims to promote organic growth and collaboration initiatives across the company’s global insurance and reinsurance operations. Carmilani is being succeeded as …

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Florida’s AssuredPartners Acquires UK-Based Hettle Andrews

AssuredPartners Inc. has acquired Birmingham, England-based Hettle Andrews & Associates Ltd. The transaction is subject to customary approval by the Financial Conduct Authority and the deal terms have not been disclosed. Hettle Andrews is an integrated risk management and insurance …

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Norris Now Sole Owner, CEO of National Real Estate Insurance Group in Missouri

Tim Norris has taken the helm as sole owner and chief executive officer of Kansas City, Missouri-based National Real Estate Insurance Group (NREIG). Norris founded the agency in 2008 but stepped back from day-to-day operations after the firm merged with …

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Nearly 25K Citations Issued in First Year of Georgia Hands-Free Law

Citations for distracted driving have jumped in the past year since Georgia made it illegal to drive while holding a cellphone. A state law that took effect July 1, 2018, prohibits drivers from holding a cellphone while they’re behind the …

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Illinois Governor Asks Residents to Report Flood Damage

Illinois Gov. J.D. Pritzker is urging residents of his state to report flood damage to their county’s emergency management agencies. He says such action will increase the likelihood the state will qualify for federal disaster aid. According to the governor’s …

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With Expansion, Iowa’s Cottingham & Butler Bringing 25 Jobs to Dysersville

Dubuque, Iowa-headquartered insurance broker, Cottingham & Butler, is opening a new office in Dyersville, Iowa, and is looking to hire account managers and customer service representatives. The firm provides property/casualty and employee benefits products and services. It plans to add …

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Boeing Creates $50M Crash Victims’ Fund; Hires Feinberg to Oversee

Boeing Co. said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with veteran U.S. compensation expert Ken Feinberg hired …

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FAA Hit for New Delay in Remote Drone Tracking Program

The Federal Aviation Administration has again delayed plans to propose new rules requiring the remote identification of drones, according to records and a member of Congress on Wednesday. Congress directed the FAA in 2016 to issue regulations or guidance by …

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California Settles 19-Year Old Public Nuisance Claim Against Lead Paint Makers

When Californian counties and cities first sued paint makers in 2000, they wanted the companies to pay billions to remove dangerous old lead paint from hundreds of thousands of homes. After a 19-year legal struggle, they have finally succeeded in …

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Jim Beam Thanks Firefighters, Says It Regrets Environmental Impact of Kentucky Warehouse Fire

Jim Beam has written an open letter to some newspapers to thank firefighters for battling a fire that recently burned down a storage warehouse in Kentucky. The producer of the world’s best-selling bourbon writes that it regrets the environmental impact …

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Suspected Tornado in Mississippi From Hurricane Barry Damages Homes

A suspected tornado struck a rural area of north Mississippi on Tuesday, damaging homes and knocking down trees and power lines as the wet remnants of Hurricane Barry rumbled through several states, officials said. A storm that may have included …

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Senators’ Flood Insurance Measure Includes Premium Cap, Mitigation Funds, Claims Reforms

A bipartisan group of U.S. senators from coastal states — including three running for president– unveiled a comprehensive flood insurance reform measure they see as an alternative to measures recently passed by a House committee. The Senate proposal, which builds …

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Judge Recommends $14M Award to Montana Neo-Nazi Trolling Victim

The publisher of a neo-Nazi website should have to pay the victim of an internet trolling campaign over $14 million and remove all posts that encouraged his readers to contact the Montana real estate agent, a magistrate judge recommended on …

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Minor Injuries When Roof Collapses at California Casino

Eleven people suffered mostly minor injuries when a roof collapsed Monday at a Los Angeles area casino, raining debris into the lobby area, authorities said. The Los Angeles County Fire Department received multiple calls following the collapse around 10 a.m. …

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Jury Says Toyota Must Pay $16M to Southern California Dealer in Lawsuit

Toyota has been ordered to pay nearly $16 million to a Southern California dealer who alleged the company’s Prius recalls didn’t fix safety problems. The Los Angeles Times says an Orange County jury decided Monday that Toyota had breached “good …

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CFC Adds Range of Risk Management Services to Tech Insurance Offering

Specialist insurance provider CFC Underwriting has added a range of free risk management services to its insurance offering for technology companies. CFC, which is a London-based managing general agent, said it has teamed up with experts from around the globe …

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Insurance AI Firm RiskGenius Reports Additional Financing

RiskGenius, which provides natural language tools for improving the quality and accuracy of insurance policies, has completed a Series B financing led by Hudson Structured Capital Management. The company said it has also expanded partnerships with insurance carriers Everest Insurance, …

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Financial World’s Blockchain Euphoria Gives Way to Pragmatism as Projects Stall

Two years ago Nasdaq Inc. and Citigroup Inc. announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it “a milestone in the global financial sector.” But the …

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Chemical Contamination Found in Wells Near Delaware Air Force Base

Businesses and residents near Dover Air Force Base in Delaware are being provided bottled water after chemical contaminants were found in private wells near the base at levels far exceeding federal health advisory levels. State officials said in a news …

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Pie Insurance Begins Providing Workers’ Comp Insurance in New Hampshire

Pie Insurance has begun providing workers’ compensation insurance to small businesses in New Hampshire. It simultaneously announced that it has begun providing workers’ comp insurance in Mississippi, Utah and West Virginia, now offering coverage in 29 states and the District …

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Plymouth Rock Assurance to Acquire New Jersey’s Rider Insurance Company

Plymouth Rock Assurance has agreed to expand its investment in the motorcycle insurance segment with the acquisition of Rider Insurance Company, subject to regulatory approvals. A New Jersey-based motorcycle insurance carrier with $21 million in annual premiums, Rider Insurance was …

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Digital Workers’ Compensation Provider Pie Insurance Enters 4 Additional States

Pie Insurance said it has begun providing workers’ compensation insurance to small businesses in Mississippi, New Hampshire, Utah and West Virginia. With these additions, Pie now offers coverage in 29 states and the District of Columbia. In June, Pie Insurance …

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Shipping Firms Begin Hiring Unarmed Guards for Voyages in Middle East Gulf

Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said. Relations between Iran and the West are increasingly strained after …

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Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i

John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018. Carolin’s work experience spans the risk transfer industry …

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Freak Weather Risks India’s Renewable Energy Goals, Affecting Insurers, Lenders

India’s ambitious plan to take the leadership position among nations as one of largest producers of renewable energy may have run into some unfavorable weather. Freak climatic conditions are damaging renewable energy projects, threatening a business which survives on wafer-thin …

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By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting

It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward improving underwriting—ultimately with happier insurance-buying customers. Since its launch in 2014, …

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Alabama Towing Firms Under Investigation for Overcharging Drivers

Police in Alabama have searched five towing companies that are under investigation for possible insurance fraud. New outlets report officers executed search warrants Friday at more than a dozen locations. Mobile Police Chief Lawrence Battiste says some of the companies …

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Florida Gets Ready for Peak Hurricane Season After 3 Years of Major Storms

Floridians are on alert as the state heads into to peak hurricane season after three straight years of being impacted by major storms. Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that devastated the region as a Category …

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Harris Promoted to P/C Underwriter at J.M. Wilson in Michigan

J.M. Wilson has promoted Lacey Harris to property/casualty underwriter in its Portage, Michigan, office. Lacey is responsible for quoting new and renewal commercial property and casualty risks and serving independent insurance agents in the state of Michigan. Harris has been …

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Senators Want to Reconsider Lawsuit Immunity for Google and Internet Giants

U.S. senators used a Congressional hearing on Tuesday to push the idea of overhauling a law that protects YouTube, Facebook and other internet services from being sued for the content users post. The Senate Judiciary subcommittee hearing, led by Senator …

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