UK Proposals for Financial Services ‘Unacceptable:’ EU Brexit Negotiator

LONDON – British proposals to give the City of London access to the European Union are “unacceptable” because they seek to maintain the benefits of the single market without the obligations, the bloc’s chief Brexit negotiator Michel Barnier said on …

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Exclusive Coronavirus Survey: P/C Insurance Return to ‘Normal’ Office May Take Time

Many property/casualty insurance professionals, most of whom have been working at home during the pandemic, may need some convincing not only to return to an office anytime soon but also to engage in typical business activities with colleagues and customers. …

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Missouri Contractor Fined $224K after Trench Collapse, Employee Injuries

A Missouri contractor has been cited by federal workplace safety officials for trenching and excavation violations after an employee suffered severe injuries when a 20-foot trench collapsed during excavation of Creve Coeur Sanitary Sewer Trunk in Creve Coeur, Missouri. The …

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Aon Reverses Salary Cuts Announced in May for Most Employees

Aon will end the salary cuts announced in early May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon will end the salary cuts and repay colleagues for the lower pay, although a …

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Chicago Staffing Companies to Pay $568.5K in Race, Sex Discrimination Suit

Federal employment officials say two Chicago-based staffing companies will pay $568,500 to resolve a race and sex discrimination lawsuit. In its lawsuit, the U.S. Equal Employment Opportunity Commission (EEOC) alleged that Personnel Staffing Group LLC, doing business as Most Valuable …

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Phone Use While Driving a 1st Offence in South Dakota on July 1

Drivers in South Dakota who use their cellphones can be pulled over and ticketed purely for that offense starting July 1. A new state law taking effect July 1 makes it a Class 2 misdemeanor to use a cellphone while …

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California Governor Orders Bars in 7 California Counties to Close

Gov. Gavin Newsom has ordered bars that have opened in seven California counties, including Los Angeles, to immediately close and urged bars in eight other counties to do the same, saying the coronavirus was rapidly spreading in those parts of …

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Workers Killed in Industrial Accident at Colorado Cheese Plant

Two men were killed while working on a pipe extension project at a cheese plant in northern Colorado. Weld County Coroner Carl Blesch says 25-year-old Odaniz Javier Ortiz Quinones, of Greeley, and 47-year-old Joseph Jarvis Jr., of Greensboro, North Carolina, …

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California Workers’ Comp Bureau Issues Report on Losses and Expenses for 2019

The Workers’ Compensation Insurance Rating Bureau of California has released its report on workers’ comp losses and expenses for 2019. Findings in the WCIRB report, 2019 California Workers’ Compensation Losses and Expenses, include: Medical losses paid in 2019 were $4.6 …

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U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best

The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting results, according to a new AM Best report. Indeed, the …

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New York’s LiquidX Appoints Lynady as Managing Director

LiquidX has appointed Todd Lynady as managing director and global head of Insurance Sales and Business Development. In this newly created role, Lynady will be responsible for leading the firm’s sales, origination and business development strategy for LiquidX’s trade credit …

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Safeco, Heritage Agree to Offer Renewals to AIG’s Upper Middle Market Clients

American International Group (AIG) announced it has entered into an agreement with Safeco Insurance, a Liberty Mutual subsidiary, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transfer their upper middle market personal insurance …

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New York Insurance Broker Arrested, Charged in $1M Fraud Scheme

A New York state insurance broker has been arrested and charged with wire fraud, attempted wire fraud and aggravated identity theft and is facing a maximum penalty of 20 years in prison. U.S. Attorney James P. Kennedy Jr. announced the …

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Boston Task Force Aims to Crack Down on Illegal Fireworks

Boston Mayor Marty Walsh has created a new task force aimed at cracking down on illegal fireworks amid an explosion of complaints. Walsh said the task force will include the mayor’s chief of civic engagement, the four at-large city councilors, …

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Australia to Spend Nearly $1 Billion on Cyber Security During Next Decade

SYDNEY – Australia will spend A$1.35 billion ($926.1 million) over the next 10 years to boost its cyber security defenses, Prime Minister Scott Morrison said on Tuesday, as Canberra seeks to combat a wave of attacks. The announcement comes just …

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FCCI Insurance Names Welch President/CEO, Replacing Johnson Who Exited in May

FCCI Insurance Group’s board of directors has named Christina “Cina” Welch as president & CEO, replacing Craig Johnson who was terminated from his role in May 2020 after an incident with police in a Sarasota restaurant. Welch began her career …

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Potential New ‘Pandemic Virus’ Has Been Found in Pigs, Warns China Study

A new flu virus found in Chinese pigs has become more infectious to humans and needs to be watched closely in case it becomes a potential “pandemic virus,” a study said, although experts said there is no imminent threat. A …

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Car Crashes Deadlier During Global Lockdowns as Drivers Speed on Empty Roads

LONDON – Coronavirus lockdowns led to huge reductions in traffic and fewer car crashes this spring, but as drivers sped up on quieter roads, the collisions became deadlier in several cities, a Reuters analysis shows. In New York City, the …

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Mining Groups Should Be Required to Buy Insurance for Tailings Dams: Report

Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, …

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Renaissance Alliance Insurance Services Adds 6 Agency Members in Florida

Renaissance Alliance Insurance Services, a membership alliance for independent insurance agencies, has added six independent insurance agencies to its Florida network. The new members include: AFG Insurance (American Fidelity Group) of Spring Hill, Fla. an independent agency offering a full …

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Florida Restaurant Fined More Than $314K for Stealing Tips, Wages

Federal officials say a Florida restaurant chain with six locations has been fined more than $314,500 for taking employee tips and wages. The U.S. Department of Labor reported Friday that the Vietnamese chain Pho 79 “illegally diverted” federal overtime pay …

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West Virginia Trail Derailment Caused by Engineer Error: Report

An engineer error caused a CSX freight train to derail as it crossed the Potomac River near Harpers Ferry, West Virginia, sending two cars into the water and damaging a footbridge that is part of the Appalachian Trail, according to …

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North Carolina-Based BB&T Rebrands as Truist Insurance Holdings

BB&T Insurance Holdings, Inc., a subsidiary of Truist Bank, is officially now doing business as Truist Insurance Holdings, Inc. With $30 billion in premium in 2019, Truist Insurance Holdings is the fifth-largest insurance broker in the U.S. and sixth-largest in …

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Nationwide’s Transition to Independent Agency Insurance Company Complete

Nationwide says the process of transitioning the company to operate as an independent insurance agency carrier is complete, effective July 1. For the past 18 months, the Columbus, Ohio-based insurer has been working on the transition. The company says more …

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Insurance Dept: Required Premium Relief Has Saved California Drivers $1.2B

California automobile insurance companies have agreed to provide $1.21 billion in savings to drivers, the state insurance department says. Insurance Commissioner Ricardo Lara in May issued an order requiring insurers to provide premium relief to policyholders affected by the COVID-19 …

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Families of 3 Deceased Workers Sue Tyson Over Iowa Virus Outbreak

The families of three workers who died after contracting the coronavirus in an Iowa meat plant outbreak sued Tyson Foods and its top executives on June 25, saying the company knowingly put employees at risk and lied to keep them …

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Atlanta Residents Advised to Boil Water After Water Main Break

Atlanta officials say they continue to advise residents in much of Atlanta and people who live in some suburbs to continue boiling their water after a weekend water main break. The city said on Sunday that that its boil water …

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PETA Alleges Neglect by Oklahoma Zoo in Netflix’s ‘Tiger King’

Federal officials are investigating an Oklahoma zoo made famous in Netflix’s “Tiger King” series after an animal rights group accused it of neglect. People for the Ethical Treatment of Animals sent requests to the U.S. Department of Agriculture to investigate …

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Starting July 2, Michigan Drivers Will Have New Insurance Choices

Michigan drivers who renew or buy car insurance face a choice starting July 2: stick with unlimited medical coverage, go with less or — for seniors with Medicare — opt out entirely. The decision, a signature feature of a new …

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As Florida Virus Cases Spike, Officials Shut Down Bars, Restaurants

The state of Florida set on Saturday another record in daily confirmed coronavirus cases. Florida health officials reported more than 9,500 new COVID-19 cases, surpassing the previous day’s total by more than 600 confirmed cases. The figures come as officials …

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UBS Settles Lawsuit with Former Trainee Who Alleged Rape by Senior Employee

UBS Group AG settled a lawsuit brought by a former trainee in London who said she was raped by a senior employee, according to her attorney. The Swiss lender agreed to settle the claim after the trainee, who was identified …

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Brit Global Specialty USA Transfers Renewal Rights for Cargo Business to Falvey Cargo

Brit Global Specialty USA will transfer the renewal rights for its cargo business to Falvey Cargo Underwriting, effective July 2. As part of the deal, Will Frohne and Yasu Saegusa will move from Brit to Falvey Cargo as underwriters. Brit …

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Bank of England Tells Insurers, Banks to Continue Analyses of Impact of Climate Risk

The Bank of England (BoE) has told banks and insurers to press ahead with analyzing the impact of climate change on their operations, saying that guidance published on Monday would be followed by targets next year. The guide drawn up …

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Report Highlights Need for Better Risk Management on Europe’s Container Ship Routes

A Dutch safety watchdog said Thursday [June 25] that it is “undesirable” for large container ships to use a shipping route through an environmentally sensitive, shallow sea off the coast of the Netherlands, Germany and Denmark in heavy northwesterly storms …

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Data and Analytics Firm CoreLogic Weighs Unsolicited Acquisition Bid

Data and analytics firm CoreLogic disclosed it has received an unsolicited acquisition bid from an investment firm and hedge fund. Cannae Holdings and Senator Investment Group offered to acquire all outstanding common shares of the company for $65 per share …

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Liberty Mutual Re Taps Steiner from RenRe for U.S. Casualty Treaty Team

Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, has appointed Sara Steiner to the role of vice president and director of Assumed Reinsurance. Steiner is based in LM Re’s office in Stamford, Connecticut and reports to Thomas …

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Police Say Maryland Man Charged in Church Arson Case

A Maryland man faces multiple arson-related charges after police say he confessed to setting fires at a church where investigators found a Molotov cocktail in a vestibule. David Francis Creager, 47, was detained Friday and admitted to setting fire to …

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Maine Reminds Reopening Businesses to Comply with Insurance Contract Terms

Maine Superintendent of Insurance Eric Cioppa has reminded business owners of the importance of complying with the terms of their insurance policies as they begin the reopening process. As businesses reopen, Cioppa said they should consider Governor Janet Mills’ COVID-19 …

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RT Specialty Promotes Slaugenhoup to Vice President in Its New Jersey Office

RT Specialty LLC has promoted David M. Slaugenhoup to vice president within its Environmental and Construction Professional (RT ECP) practice. Since joining the team in 2013, Slaugenhoup has diligently worked with RT ECP customers nationwide to strategically manage the daily …

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Government-Produced Flood Maps May Have Underestimated Properties at Risk

First Street Foundation, a nonprofit agency, is making accurate climate change-adjusted flood scores available for every property in the U.S. today. There are government-produced maps showing 8.7 million homes and properties at significant flood risk—and it turns out those may …

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Chile’s Environment Regulator Files Charges Against Codelco for Mining Waste Pollution

Chile’s environmental regulator on Thursday said it had filed charges against state mining company Codelco over a 2016 tailings spill and river and estuary contamination at its Andina mine in a mountainous region near the capital Santiago. The Environmental Superintendent …

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RKH Specialty Appoints 14 New Aviation Experts in London, Colombia

RKH Specialty, the London-headquartered wholesale insurance and reinsurance broker, announced the appointment of 14 new senior Aviation experts in London and Colombia, as part of RKH’s wider plan of building the largest independent logistics team incorporating its resources across aviation, …

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Tesla Sued Over Highway Crash When Model 3’s Airbags Malfunctioned

Tesla Inc. was sued over a Maryland highway crash last year in which a Model 3’s airbags failed to deploy, leaving a college professor with brain damage. Elon Musk, the company’s co-founder, has touted the Model 3 as the “safest …

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Italy’s Generali Eyes Possible Acquisition of U.S. Asset Manager Brightsphere: Sources

Assicurazioni Generali SpA has approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday. A deal would expand the U.S. footprint of Italy’s top insurer while enabling …

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The Liberty Company Insurance Brokers Adds Mehta in California

The Liberty Company Insurance Brokers has named Sanjay Mehta senior vice president. Mehta works out of the Irvine, Calif., office. He has more than 20 years of experience in the industry and was most recently at McGriff Insurance Services, and …

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Arthur J. Gallagher Acquires Cunnington & Associates in Idaho

Arthur J. Gallagher & Co. has acquired Meridian, Idaho-based Cunnington & Associates Inc. Greg and Nick Cunnington and their associates will continue to operate from their current location under the direction of Jim Buckley, head of Gallagher’s Northwest region retail …

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Insurtech MGA Delos, Canopius to Offer Wildfire Protection Coverage in California

Delos Insurance Solutions, a property insurtech managing general agent (MGA), has created a new insurance product with Canopius US Insurance designed to improve the homeowners insurance options for those living in wildfire regions in California and across the United States. …

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Tennessee Refunds $2.2M to Insurance Consumers So Far in 2020

Tennessee consumers have been repaid over $2.2 million so far in 2020 through mediation efforts by the Tennessee Department of Commerce & Insurance’s (TDCI) that resulted in denied claims being overturned for policyholders, the department said in a statement. The …

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Texas Bars Ordered to Close Again, Restaurants Reduced to 50% Occupancy as Virus Spreads

Gov. Greg Abbott has taken his most drastic action yet to respond to the post-reopening coronavirus surge in Texas, shutting bars back down and scaling back restaurant capacity to 50%. He also shut down river-rafting trips, which have been blamed …

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Abusive Ohio State Doc Placed Above Accountability, Lawsuit Says

A former Ohio State University student health director acknowledged he knew of a doctor’s practice of conducting a genital exam on every patient he saw, according to an updated lawsuit against the university over the doctor’s abuse. Ted Grace confirmed …

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Week Before Trump’s Visit, Wildfire Burns Near Mount Rushmore

South Dakota brought in more resources on June 25 to fight a wildfire burning near Mount Rushmore ahead of next week’s visit to the monument by President Donald Trump for Independence Day celebrations. The fire that started in Custer State …

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Missouri Appeals Court Upholds Owned-Vehicle Uninsured Motorist Exclusion

In Johnson v. State Farm Mutual Auto Insurance Company, Johnson appealed a Missouri trial court’s grant of summary judgment in favor of State Farm, which upheld an owned-vehicle uninsured motorist (UM) exclusion clause in two auto policies covering vehicles not …

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Italy’s Generali Moves to Become Cattolica Major Shareholder, Strategic Partner

Italy’s largest insurer Assicurazioni Generali SpA said it will become a major shareholder in Cattolica Assicurazioni SC and a strategic partner with Cattolica in several areas of mutual opportunity. Generali said it has committed to becoming a major shareholder, acquiring …

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Obsidian Insurance Holdings Appoints Armstrong as Chief Client Officer

Obsidian Insurance Holdings Inc., a fronting insurance holding company, has appointed Stacy Armstrong as chief client officer. Armstrong is a senior executive with more than 25 years of insurance and reinsurance industry experience. Her new role will include responsibility for …

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Cybersecurity Firm Exposes Chinese Tax Software’s Malware That Accesses Users’ Networks

When a U.K.-based technology vendor started doing business in China, it hired a cybersecurity firm to proactively hunt for any digital threats that could arise as part of doing business in the country. The firm discovered a problem, one with …

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Maryland Home Builder to Pay More Than $700K for Violating Consumer Protection Laws

Maryland Attorney General Brian E. Frosh has announced that his Consumer Protection Division issued a final order finding that Clark P. Turner and Clark Turner Homes LLC of Harford County violated Maryland’s Consumer Protection Act, New Home Deposits Act and …

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District of Columbia Sues 4 Oil Majors for Misleading Consumers on Climate Change

The attorney general for the District of Columbia on Thursday filed a lawsuit against Exxon Mobil Corp, BP Plc, Chevron Corp, and Royal Dutch Shell Plc for “systematically and intentionally misleading” consumers about the role their products play in causing …

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Lenders With the Best Climate Data Will Be in a Position to Discriminate: Viewpoint

We now live in a world where climate gentrification exists: People and institutions are starting to assess and appraise properties based on their susceptibility to climate impacts. The idea was largely hypothetical as recently as 2016, but over the past …

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Canadian Privacy Panel Finds LifeLab’s Data Breach Was One of Biggest

Canadian laboratory testing company LifeLabs failed to adequately protect sensitive health information of millions of people, resulting in one of the biggest data breaches in the country last year, privacy commissioners for the provinces of British Columbia and Ontario said …

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SoftBank May Sue Wirecard Accountant EY; EU Probes Germany’s Regulator

The European Union is investigating Germany’s financial regulator over the collapse of payments company Wirecard in a rare move that heaps embarrassment on Berlin days before it is due to take over the EU’s rotating presidency. Wirecard’s implosion on Thursday, …

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Trump Administration Backs GOP Governors’ Supreme Court Bid to Repeal Obamacare

President Donald Trump’s administration has asked the U.S. Supreme Court to invalidate the Obamacare law introduced by his predecessor that added millions to the healthcare safety net but has been a major political controversy. Government advocate Noel Francisco argued in …

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Mississippi Lawmakers Seek to Limit COVID-19 Liability to Businesses

The Mississippi Senate is working to limit lawsuits by customers who say they were exposed to the new coronavirus at businesses or medical offices. Senate Bill 3049 would shield businesses, health care providers, religious organizations and other entities from lawsuits …

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Washington Firefighters Prep for Wildfire Season Amid Pandemic

Washington state firefighters are preparing for a season of potential summer wildfires while adopting new health safety measures amid the ongoing coronavirus pandemic. The COVID-19 pandemic has added a new layer of uncertainty to the work of preparing for wildfire …

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California Adopts Workplace Safety Standards Protecting Nighttime Ag Workers

California has adopted new workplace safety standards to protect agricultural employees who work at night. These are reportedly the first lighting standards in the nation written specifically to protect agricultural workers who harvest, operate vehicles and do other jobs between …

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Municipal Bond Insurance Industry Busier Than Ever After Decade-Long Slump

As the coronavirus pandemic rips through the finances of state and local governments, municipal-bond insurers are busier than they’ve been in years. Since early May, about 10% of new bond sales have been offered with insurance, nearly double the average …

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Even With $11 Billion Settlement, Bayer Still Has 30,00 Claims to Roundup

While Bayer AG said it took a major step toward wrapping up litigation over its Roundup weedkiller with a settlement of almost $11 billion, the company still faces about 30,000 unresolved cancer claims that could cost billions, and lawyers are …

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Chilean Union Workers Want Probe Into Coronavirus Deaths at Codelco Copper Mine

SANTIAGO— Unionized mine workers in Chile late on Wednesday demanded an investigation into the death of a third miner from coronavirus at state-run Codelco, increasing pressure on the world´s largest copper producer as cases soar throughout the South American nation. …

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The Institutes to Add Insurance Information Institute to Its Affiliates Roster

The Insurance Information Institute, since 1960 a source of insurance data and information for the media and consumers, has agreed to affiliate with The Institutes, an expanding education, research, event and publishing organization that includes the CPCU Society. The boards …

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21 Shipping Containers Fall Overboard off Hawaiian Islands

At least 21 shipping containers fell from overboard into the ocean near Hilo this week, the U.S. Coast Guard said. Nine of the 40-foot shipping containers were located and 12 remained missing, the Coast Guard said. The crew of the …

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Family of Man Killed During Washington Traffic Stop Files $25M Claim

The family of a North Carolina man killed by a police officer during a traffic stop in Washington state filed a $28 million wrongful-death claim. The family of 26-year-old Said Joquin filed the claim against the city of Lakewood, its …

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Orchid Insurance, Specialty Lines Startup CrossCover Form CAT-Focused MGU

Orchid Underwriters Agency, LLC, an independent managing general underwriters focused on catastrophe-exposed residential and commercial lines properties, has launched CrossCover Insurance Services, a new MGU that will underwrite middle-market commercial properties for wholesale broker clients. Formed in partnership with Scott …

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Oil Firms Slam Brakes on Return-to-Work as Texas Virus Cases Soar

U.S. energy companies slammed the brakes on returning staff to their Houston offices as COVID-19 cases soared and top hospitals warned they could soon run out of beds for the most severely ill patients. A record number of new illnesses …

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Reopening of Disneyland in California Delayed Beyond July 17

Walt Disney Co.’s reopening of theme parks and resort hotels in California will be delayed until Disneyland receives approval from the state, the company said on June 24. Disney had originally planned to reopen the Disneyland Park and Disney California …

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Washington D.C.’s Incapsulate Hires Siegel to Insurance Industry Team

Incapsulate has hired insurance veteran Stephen Siegel to its insurance industry team. For more than 25 years, Siegel has worked with companies in all segments of insurance including life, property and casualty, group, health and long term care. He serves …

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Vermont Unemployment Insurance Decrease Aims to Help During COVID

Vermont businesses are going to be getting a break on the costs of their unemployment insurance, and people collecting unemployment benefits will be getting more money, Governor Phil Scott said Tuesday. Starting July 1, the Vermont Department of Labor will …

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Tolley to Lead Marsh’s New Sport, Entertainment & Media Group in UK, Ireland

Global insurance broker Marsh has created a dedicated Sport, Entertainment & Media (SEM) industry group in the United Kingdom and Ireland. Led by global events specialist Richard Tolley, the group brings together 60 client management, technical, placement and risk management …

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Jewish Sleepaway Camp Operators Sue for New York Coronavirus Closures

A group of Jewish summer camp operators has filed a lawsuit against New York Governor Andrew Cuomo for his decision to keep overnight camps closed this summer due to the coronavirus pandemic. The Association of Jewish Camp Operators and a …

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Global Mining Standard Omits Ban on Upstream Dams Sought by Civil Groups

A sweeping global standard that sets out how the world’s largest miners care for waste dams falls short of measures environmental and civil society groups say are needed to avert future disasters, according to a copy of the final draft …

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Howden Broking Group Expands to Belgian Market; Kerremans Named CEO of Unit

London-based independent insurance broker Howden Broking Group reports it been granted its licence to operate in the Belgian market, further strengthening the Group’s presence in Europe. Herman Kerremans will lead this latest opening as CEO of Howden Belgium. Kerremans, previously …

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Insurer Lemonade Seeks to Raise $286 Million in IPO

Insurance startup Lemonade Inc., which is backed by SoftBank Group Corp., said on Thursday it was looking to raise up to $286 million in its U.S. initial public offering (IPO), as the IPO market gains momentum after COVID-19 put many …

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Ireland, Luxembourg Lag in Support for Policing EU Data Privacy Compliance

Ireland and Luxembourg, European headquarters to Google, Facebook, Twitter and Amazon, need a substantial boost in resources to deal with data breaches by U.S. tech giants, a European Union report said. The report by the European Commission, seen by Reuters, …

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Bayer Gambles on Science to Let It Keep Selling Roundup, Mitigate Future Claims

FRANKFURT/NEW YORK— Seeking to forestall further claims, Bayer AG is taking a risky bet that an independent scientific review will ultimately show that its widely used weed killer Roundup does not cause cancer, legal experts said. The company on Wednesday …

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Senators Propose ‘Scalpel, Rather Than Jackhammer’ to Reform Internet Liability

Two U.S. senators on Wednesday introduced legislation to reform part of a federal law that largely exempts tech platforms such as Facebook and Twitter from legal liability for the material their users post. The legislation, titled the Platform Accountability and …

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California Wants Judge to Force Uber, Lyft to Classify Drivers as Employees

California plans to ask a state court judge to force Uber Technologies Inc. and Lyft Inc. to classify their ride-hail drivers as employees rather than contractors, ratcheting up the tension over a new gig worker law. Shares of both companies …

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‘The Money’s Gone’: Wirecard Collapses Owing $4 Billion

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal. The implosion of the payments company came a week after auditor EY refused to sign off its 2019 …

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The Future of Work in America Is in the Office: Opinion

Ever since the coronavirus sent millions of people home to work, people have been predicting that remote work will endure after the pandemic is over. Color me skeptical. I can’t imagine everyone not wanting to race back into the office …

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COVID-19 Could Rank Among Re/Insurance Sector’s Most Expensive Events: Carpenter

Although considerable uncertainty remains over its ultimate cost, the COVID-19 pandemic looks set to rank among the re/insurance sector’s most expensive events, according to a report issued by reinsurance broker Guy Carpenter. Not only does the pandemic have the potential …

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Georgia County Hires Independent Firm to Test Water Wells for Coal Ash

county in Georgia has announced it’s hiring an independent firm to investigate possible coal ash contamination of residential water wells. An environmental consulting group will test wells of residents near Georgia Power Co.’s Plant Scherer in Juliette due to ongoing …

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United Insurance Holdings of Florida Appoints Peed as Chairman, CEO

The Board of Directors of United Insurance Holdings Corp., a property and casualty insurance holding company based in Florida, has appointed R. Daniel Peed as chairman of the board of directors and chief executive officer, effective July 1, 2020. Peed …

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Arizona Man Accused of Selling LSD Sues for Wrongful Arrest

A Flagstaff, Ariz. man who was wrongfully arrested on suspicion of selling LSD has filed a federal lawsuit against the city, saying police ignored evidence that showed he wasn’t a drug dealer. Tremayne Nez, who is Navajo, spent more than …

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Cannabis Broker Spotlight: Boden With Crouse Went All-in on the Budding Industry

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for …

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FAA Issues Final Directive on Boeing 737 MAX Airplane Inspections

The Federal Aviation Administration (FAA) on Wednesday finalized a directive requiring airlines to complete inspections of a key component of Boeing 737 MAX airplanes that, if faulty, could result in a loss of power to the engines. The FAA, in …

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Exclusive: How P/C Insurance Pros Are Faring Working From Home During Pandemic

According to Dorothy in the Wizard of Oz, there’s no place like home. For many in the property/casualty insurance industry, home is where their job has been during the pandemic. While millions of people in other industries have been laid …

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Bayer to Settle 100,000 Roundup Weedkiller Cancer Claims for $10.9 Billion

FRANKFURT/NEW YORK- Bayer AG, after more than a year of talks, agreed to pay as much as $10.9 billion to settle close to 100,000 U.S. lawsuits claiming that its widely-used weedkiller Roundup caused cancer, resolving litigation that has pummeled the …

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Upmarket Homeowners Insurance Platform Openly Raises $15 Million

Boston-based Openly, a platform that sells upmarket homeowners insurance through independent agents, said it has closed a $15 million Series A investment. The round was led by Obvious Ventures, with participation from existing investors including Gradient Ventures (Google’s AI-focused Venture …

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No Damage, Injuries from M4.6 Earthquake in Central California

An earthquake rattled Central California Monday evening but no damage or injuries were immediately reported, the U.S. Geological Survey confirmed. A magnitude-4.6 temblor struck at 5:25 p.m. southeast of the community of Lone Pine in Inyo County, according to the …

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Palomar Holdings in California Proposing Public Offering of Common Stock

La Jolla, Calif.-based Palomar Holdings Inc. announced the underwritten public offering of 1 million shares of the company’s common stock, par value $0.0001 per share, to fund growth. Palomar Holdings Inc. also announced it has formed Palomar Excess and Surplus …

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Palomar Excess and Surplus Insurance Company Formed in Arizona

Palomar Holdings Inc. has formed Palomar Excess and Surplus Insurance Co. Palomar Holdings Inc. announced the underwritten public offering of 1 million shares of the company’s common stock PESIC has received all necessary regulatory approvals to operate as an excess …

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Investment Manager Nephila Capital to Launch Lloyd’s Syndicate with ILS Specialty

Nephila Capital announced that the Lloyd’s Council has given in-principle approval to Nephila’s plan to form a new syndicate. Bermuda-based Nephila is the largest institutional asset manager dedicated to investing in natural catastrophe and weather risk. Nephila’s Syndicate 2357 at …

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U.S. Economic Losses from Severe Weather During May Topped $4 Billion: Aon

Severe weather outbreaks across the United States, with a lot of hailstorm damage, resulted in another costly month for insurers as a significant proportion of the US$4 billion economic cost was covered by insurance, according to Aon’s monthly Global Catastrophe …

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Judge to Schedule Trial in Delaware Day Care Death Lawsuit

A Delaware couple who filed a wrongful death lawsuit after their infant son died at a home day care center has lost a bid to have a judge rule in their favor without a trial. Carlita and Charles Laws argued …

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Synagogue Shooting Victims Sue Smith & Wesson for Negligence

Firearms manufacturer Smith & Wesson Brands Inc. negligently marketed the AR-15 style semiautomatic rifle that was used in a 2019 mass shooting at a California synagogue, victims and survivors claim in a lawsuit. The company illegally designed and marketed its …

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Feds Charge Man with Setting Fires During Raleigh Protests

Federal authorities say that a North Carolina man is facing charges related to setting fires in two businesses in downtown Raleigh during protests against racism and police brutality. The Raleigh News & Observer reports that agents with the Bureau of …

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Florida Farmers Offer Reward After Watermelon Crop is Destroyed

A family of farmers in North Florida is seeking answers after a field of watermelons was sprayed with damaging chemicals. Hugh Martin told the Gainesville Sun his family is offering a $10,000 reward for information that helps lead to the …

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The Plexus Groupe Acquires Florida’s Community Insurance Group

The Plexus Groupe, a privately held broker, has acquired Community Insurance Group (CIG) of Brandon, Fla. This is the first entrance into the Florida market for Plexus, which has locations in Atlanta, Chicago, Dallas, Los Angeles and Oklahoma City. The …

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Alliant Hires Schoenberg as Co-Leader of Its Mergers & Acquisitions Division

Alliant has hired Dan Schoenberg as co-leader of Alliant Mergers & Acquisitions. Schoenberg has experience in representations and warranties insurance, tax insurance and litigation insurance, as well as insuring other contingent risks in M&A and non-M&A-related situations. Based in New …

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World Insurance Associates Acquires New York’s Millennium Medical Solutions Corp.

World Insurance Associates LLC (WIA) acquired Millennium Medical Solutions Corp. of Armonk, N.Y., on June 1, 2020. Terms of the transaction were not disclosed. Millennium Medical Solutions Corp. is an employee benefits consulting boutique agency that specializes in commercial healthcare. …

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Arthur J. Gallagher & Co. Acquires Florida’s Barrett, Liner & Buss

Arthur J. Gallagher & Co. has acquired Ocala, Fla.-based Barrett, Liner & Buss LLC. Terms of the transaction were not disclosed. Founded in 1981, Barrett, Liner & Buss offers a range of employee benefit solutions to Florida employers representing a …

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Judge Sides with Trump Over Hospitals on Price Disclosure Rule

A federal judge on Tuesday dismissed a challenge by hospital groups to a federal rule requiring them to disclose prices they quietly negotiate with insurers, in a victory for White House efforts to make healthcare pricing more transparent to patients. …

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More Than 10,000 People Join Lawsuit Against EasyJet for Massive Data Breach

EasyJet Plc faces a lawsuit over a data breach disclosed last month that potentially exposed private details of 9 million passengers. More than 10,000 people have joined the suit since it was filed last month, according to law firm PGMBM. …

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Global Institutional Investors, Including Insurers, Urge Brazil to Control Deforestation

A group of 29 global investment firms that manage $3.7 trillion are demanding meetings with Brazilian diplomats around the world to call on right-wing President Jair Bolsonaro’s government to stop soaring deforestation in the Amazon rainforest. The investors, led by …

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UK, EU Likely to Miss Deadline for Accessing Financial Services After Brexit: Sources

Britain and the European Union are set to miss their end-June deadline for assessing future cross-border trade in financial services, leaving just six months before a potentially messy UK exit, financial industry and EU officials say. Britain left the EU …

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Tropical Storm Dolly Becomes 4th Named Storm with Early Start to Hurricane Season

Tropical Storm Dolly spun up southeast of Halifax, Nova Scotia, becoming the Atlantic’s fourth named storm of 2020, marking the third-fastest start to a storm season in more than a century. The system’s winds reached 45 miles (72 kilometers) per …

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Minor League Baseball Teams Sue Insurers for Coronavirus Business Income Losses

Fifteen U.S. minor league baseball teams on Tuesday sued several insurers for not paying out claims for business interruption losses after the cancellation of “much or all” of the league’s season as a result of the coronavirus pandemic, according to …

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Rival Wholesale Brokers Ryan Specialty Group and All Risks Agree to Merge

Two of the largest property/casualty insurance wholesalers are looking to merge. The deal will unite Chicago-based Ryan Specialty Group and its nearly $12 billion in premium, and All Risks, headquartered in Delray Beach, Florida, which has close to $2.6 billion …

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Berkley One Launches Recreational Marine Product, Enhances Other Offerings

Berkley One has launched a recreational marine product and made other product enhancements in five states. Recreational Marine insurance, already offered by Berkley, has been relaunched through Berkley One with new technology and coverage innovations. According Kathy Tierney, president of …

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California Workers’ Comp Classification Inspection Report Expanded for Agents

The Workers’ Compensation Insurance Rating Bureau of California is expanding its Special Inspection Report program to allow agents and brokers to request a WCIRB physical inspection of their clients’ California business operations. The new service, which goes into effect July …

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Guardrail Company Accused of Negligence, Fraud in Missouri Lawsuit

A Missouri commission is suing a company that makes guardrails, saying its equipment is defective. The Missouri Highways and Transportation Committee, a six-member board that governs the Missouri Department of Transportation, is suing Lindsay Corp. for negligence and fraud, KSHB-TV …

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4.2 Magnitude Earthquake Strikes Northern Oklahoma

A magnitude 4.2 earthquake shook northern Oklahoma on June 20 and was felt in parts of Tulsa as protesters filled the city’s downtown streets after President Donald Trump’s campaign rally. The U.S. Geological Survey recorded the quake at 10:15 p.m. …

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New Trial Ordered in Suit Against Contractor Over Nebraska Library Sprinkler Damage

Wahoo city officials will get another chance to try to prove a contractor’s negligence after a sprinkler system in their local library burst and caused an estimated $160,000 in damage, the Nebraska Supreme Court said. The court ordered a new …

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Cannery Workers in California Forced Into Hotel Quarantine Without Pay, Lawsuit Says

About 150 seasonal workers hired by a salmon cannery in Alaska are being forced to quarantine without pay at a hotel in Los Angeles after three of them tested positive for the coronavirus, a lawsuit claims. The workers, most of …

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Disneyland Workers in California Say Proposed July Reopening May Be Too Early

Unions representing 17,000 workers at Walt Disney Co.’s Disneyland Resort in California have told the state’s governor they are not convinced the theme park will be safe enough to reopen by the company’s July target date. In a letter to …

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Business Cyber Losses Soar but Firms Fight Back with Extra Security Spending: Study

Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox. Total cyber losses among the study group rose from …

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Millions of Abandoned Oil and Gas Wells Pose Environmental, Health Risks

In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The fumes made the retired couple feel nauseous, dizzy, and short of breath. Regulators responding …

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Fireworks Blamed for Fire That Destroyed New York Apartment Building

Fireworks may have started a fire that destroyed a three-story apartment building in Yonkers, injured 12 firefighters and left six families homeless, a fire department official said Sunday. The Journal News reported that more than 100 firefighters responded to the …

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North Carolina Electric Distributor Cited for Safety Hazards at Florida Worksite

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Florida Progress LLC, operating as Duke Energy Florida LLC, for exposing employees to excavation hazards at a Zephyrhills, Fla., worksite. The Charlotte, N.C.-based electric power distributor faces …

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UK Insurance Broker Ardonagh Group Secures $2 Billion Loan for Acquisitions

UK insurance broker The Ardonagh Group has secured the largest-ever loan from a group of private credit funds led by Ares Management, according to a statement by the lender. The group is refinancing its debt with a 1.575 billion pound …

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Pennsylvania’s Erie Insurance Names Habursky Senior VP, Chief Investment Officer

Erie Insurance has named Ronald Habursky as senior vice president and chief investment officer, effective July 2. Habursky joined Erie Insurance in 1999 as a fixed income securities analyst, was promoted to alternative investment analyst in 2000, and later to …

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LGBTQ Employees Still See Equality Gaps After Supreme Court Ruling on Firing

Even with this week’s Supreme Court ruling, the workplace will be far from equal for lesbian, gay, bisexual and transgender Americans. While the nation’s highest court says you can’t be fired for your sexual orientation or gender identity under the …

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Global Risk Solutions Hires Wiswell, Daneman as Executive General Adjusters

Global Risk Solutions Inc., a provider of claims adjusting and environmental risk management solutions, has expanded its marine claims capabilities with the addition of two claims executives. Peter Wiswell and Joe Daneman have joined Global Risk Solutions’ Environmental Risk Management …

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Bullying and Harassment Increase for Some Workers in Pandemic Lockdown: Opinion

Working from home should have liberated employees from toxic workplace behavior such as bullying and harassment. Amid the lockdowns, gone are undesired office encounters, business trips, round-the-clock conferences and much after-hours socializing. Yet, far from ending misconduct, the pandemic lockdowns …

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Bayer Reported to Be Near $8-10 Billion Roundup Settlement: Handelsblat

Bayer AG is close to agreeing a settlement worth $8-10 billion over claims its glyphosate-based Roundup weedkiller causes cancer, German business daily Handelsblatt reported on Tuesday. The company’s supervisory board was due to discuss and vote on the settlement, which …

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Parametric Catastrophe Facility CCRIF Pays US$3.6M to Guatemala for Excess Rainfall

Parametric catastrophe facility CCRIF paid the government of Guatemala approximately US$3.6 million under its excess rainfall (XSR) parametric insurance policy for nine days of rain that occurred during Tropical Storms Amanda and Cristobal. The policy was triggered by rains that …

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Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion

FRANKFURT – Former Wirecard Chief Executive Markus Braun has been arrested on suspicion of falsifying company revenue to make it appear stronger and more attractive for investors and customers, prosecutors said in a statement on Tuesday. Wirecard had said on …

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A Picasso, an $18M Hole, a Casino Owner, an Auctioneer, an Insurer and a Contractor

Insurance specialist LeConte Moore and professional fine art appraiser Vincent Wiener deal with high-profile performers and artists and their works so hearing talk of big dollar figures is not unusual. Moore says he and his insurance colleagues are not surprised …

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U.S. Court Nixes Cancer Warning on Bayer’s Roundup Weed Killer

A U.S. federal appeals court on Monday blocked California from requiring that Bayer AG label its glyphosate-based weed killer Roundup with a cancer warning, handing the company a victory in its ongoing litigation over the product. In his ruling, U.S. …

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Relation Insurance Acquires Summers Thompson Lowry of North Carolina

Relation Insurance Services, a privately owned insurance brokerage that offers property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands across the United States, has acquired Summers Thompson Lowry, Inc., a privately owned insurance brokerage …

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West Virginia Mayor Accused of Taking Flood Relief Money

A mayor in West Virginia is accused of taking federal flood relief funds intended for her city and paying herself extra money for working with a flood recovery team. Richwood Mayor Chris Drennen was indicted on federal felony charges June …

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Hiscox, Thimble to Offer Short-Term Business Insurance Plans

Hiscox has partnered with Thimble, a short-term liability insurance provider for small businesses, to offer coverage available by the hour, day or month. The partnership will allow Hiscox to give businesses flexibility, with customers having control of their policy via …

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Tennessee Plumbing Company Hit with Penalties for Labor Violations

A Tennessee plumbing company has been ordered to pay back wages, damages and civil penalties for violating federal requirements related to overtime, record keeping and child labor laws, the U.S. Department of Labor said. The department said Tim Jurisin Plumbing …

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Bankruptcy Court Approves PG&E’s Chapter 11 Reorganization Plan

PG&E Corp. said its Chapter 11 reorganization plan has been confirmed by the United States Bankruptcy Court for the Northern District of California, bringing the power provider one step closer to emerging from bankruptcy and participate in a state-backed wildfire …

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Winners Announced for 5th Annual Efma-Accenture Innovation in Insurance Awards

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture, the professional services company, have announced the winners of the fifth annual Innovation in Insurance Awards during a virtual awards ceremony. The awards competition, …

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In U.S., 1 in 4 COVID-19 Deaths Are Residents of Nursing Homes

Nursing home residents account for nearly 1 in 10 of all the coronavirus cases in the United States and more than a quarter of the deaths, according to an Associated Press analysis of government data released Thursday. As federal data …

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Life Care Accused of Retaliation Against Nursing Home Staffers Who Spoke to Reuters

A nursing home owned by Life Care Centers of America Inc. has fired one nurse and banned another from the premises after the two were quoted in a Reuters investigation detailing horrific conditions, a staff exodus and a botched management …

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Beazley Launches Contingency Policy Covering Virtual Event Organizers

Specialist insurer Beazley has launched a contingency policy designed to cover event organizers if a transmission failure disrupts or cancels a live virtual event. The insurer acknowledged that streaming live events is not new but the policy responds to an …

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New Jersey Manufacturer Fined for Failing to Correct Machine Hazards

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Bravo Pak Inc. for failing to abate hazards at its Pennsauken, N.J., facility. The company owes $259,760 in penalties. In June 2019, OSHA cited the shipping supplies …

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Gym Reopening Order Declined Amid Challenge to New Jersey Governor

A federal judge has declined to allow a southern New Jersey gym to reopen as it continues a constitutional challenge to the state order that shut down businesses deemed non-essential in order to help stem the spread of the coronavirus. …

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EverQuote Hires Connolly as Senior Vice President of Agency Sales

EverQuote Inc, an online insurance marketplace, has hired Mike Connolly as senior vice president of Agency Sales and Customer Success. Connolly joins EverQuote from CarGurus, where he led their North American sales and service organizations. Prior to CarGurus, he helped …

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China Says Food Unlikely to Be Cause of New Virus Outbreak, but Blocks Tyson Imports

China suspended poultry imports from a Tyson Foods Inc. plant where hundreds of employees tested positive for Covid-19, stoking concerns over the broader implications for U.S. and global meat exports. All products from the plant in Springdale, Arkansas, where Tyson …

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Brokerslink Network Continues African Expansion with Tunisian Broker

Brokerslink announced a further expansion of its footprint in Africa with Tunisian brokerage Karé Kamoun becoming the latest affiliate to join the global broking business. The Tunis-based insurance and reinsurance broker, specializes in core lines of business in Tunisia including …

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UK Insurer Saga Refunds £44M to Customers on COVID-19 Travel Interruptions

Saga has refunded 44 million pounds ($54.45 million) of advance payments to customers whose travel was interrupted by the coronavirus outbreak, the British over-50s holidays and insurance specialist said on Monday. The company, which has canceled all travel departures up …

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Governor Signs Louisiana Bills Shielding Businesses from Virus Lawsuits

Louisiana businesses are receiving state protection from most lawsuits involving COVID-19 deaths or injuries, after Gov. John Bel Edwards signed into law a package of measures that provides the sweeping liability limitations. Three Republican-sponsored bills offering the lawsuit shields won …

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Louisiana Lawmakers Block Bill Allowing Lawsuits Against Officers

A Louisiana lawmaker’s effort to eliminate police officers’ wide immunity from lawsuits and allow people injured by law enforcement to sue for damages in civil court was shelved by Republicans on a state House committee. The House civil law committee …

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No Aid for South Dakota Residents After Sinkhole Collapse, FEMA Says

Several South Dakota residents who evacuated from their homes after a sinkhole collapsed, exposing an abandoned mine, in April are not eligible to receive federal aid, according to the Federal Emergency Management Agency. FEMA told Sen. Mike Rounds in a …

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Allstate: May 2020 Catastrophe Losses Mostly in Midwest, Texas

Allstate says severe weather events in Texas and the Midwest account for the majority of its $350 million in catastrophe losses in May 2020. Northbrook, Illinois-based Allstate Corp. has estimated catastrophe losses for the month of May of $350 million, …

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Wisconsin to Insurers: Give Restaurants 10-Day Notice on Expiring Delivery Coverage

Wisconsin Insurance Commissioner Mark Afable has asked insurers that provided coverage under personal auto policies for food delivery services during the COVID-19 pandemic to help restaurants by giving the businesses at least 10 days written notice if their hired and …

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Online Used Car Retailer Shift Talking Merger With Blank-Check Firm Insurance Acquisition

Shift Technologies Inc., an online retailer for used cars, is in talks to merge with blank-check company Insurance Acquisition Corp., according to people familiar with the matter. The companies could announce a transaction within a month, said the people, who …

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Colleges Asking Returning Athletes to Sign COVID-19 Risk Forms

Ohio State calls it the Buckeye Acknowledgment and Pledge, a two-page document the school asked its athletes to sign before they could begin using team facilities during the pandemic. The document SMU is requiring its athletes to sign is much …

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Florida’s Citizens Accuses Embattled Law Firm, Others of Sham Lawsuits, Racketeering

Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme of “sham” claims by the law …

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AmTrust Exec Launches Commercial Crime Product for Businesses

AmTrust Exec, a division of AmTrust Financial Services, Inc., has introduced a commercial crime product designed to provide coverage for a range of medium- and large-sized businesses. The monoline commercial crime product covers loss from employee and third-party theft of …

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North Carolina Lawmakers Send Bill to Allow More Business Re-Openings to Governor

North Carolina legislators sent another bill on Thursday to Democratic Gov. Roy Cooper designed to overturn parts of his executive order for COVID-19 that’s kept several types of retail businesses shuttered for months. The General Assembly finalized a measure to …

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Worker Injured at Georgia Pyrotechnic Plant Previously Cited for Safety Violations

An explosion and flash fire badly burned the head, face and hands of a worker at a pyrotechnic plant in Georgia, an official said. The unidentified employee at Pyrotechnic Specialties, Inc. in Byron was airlifted June 17 to a hospital …

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Florida Congresswoman Requests Longer Hurricane Season

Even though the six-month Atlantic hurricane season lasts as long as a typical Major League Baseball season, a Florida congresswoman thinks it needs to be longer. Democratic U.S. Rep. Stephanie Murphy sent a letter to the National Oceanic and Atmospheric …

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Supreme Court Rejects Appeals Over Police ‘Qualified Immunity’

The U.S. Supreme Court this week refused to take up a new test of “qualified immunity,” rejecting several appeals that challenged the legal doctrine that has become a broad liability shield for police officers accused of civil rights violations. Qualified …

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Justice Department Outlines Proposed Overhaul of Social Media Immunity

The Justice Department on Wednesday outlined a broad overhaul of legal protections for online platforms such as Alphabet Inc.’s Google and Facebook Inc. if they deliberately promote illegal speech on their websites. The proposals, which could upend the companies’ business …

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Southern California Edison Sued Over Oktoberfest Explosions

A Southern California restaurant owner who was among five injured when an underground transformer exploded during an Oktoberfest celebration last year is suing Southern California Edison. Flames shot into the sky from the blasts that blew a vault door off …

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China Finds Coronavirus Contamination in Seafood and Meat in Beijing Food Market

China has found the trading sections for meat and seafood in Beijing’s wholesale food market to be severely contaminated with the new coronavirus and suspects the area’s low temperature and high humidity may have been contributing factors, officials said on …

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Judge Halts Limit on California Governor’s Emergency Powers

An appellate judge on Wednesday stayed a lower court’s order barring Gov. Gavin Newsom from issuing directives that might conflict with state law, freeing him to take additional executive actions during the coronavirus pandemic. Sutter County Superior Court Judge Perry …

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What It Takes for a New Insurance Agent to Succeed

Developing young talent to become successful young agents is not easy. Chris Burand, president of Burand & Associates, an insurance agency consulting firm, estimates that the new producer failure rate is as high as 70% to 80%. Other estimates have …

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Hotels’ Coronavirus Recovery Offerings Include Robots, Purifiers, Nonstop Elevators

Set in the kelly-green hills of Ireland’s County Clare, Dromoland Castle is the type of getaway that never sits empty. Why would it, with a pampering spa tucked behind 16th century walls, a par-72 championship golf course, and more stars …

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Trident Marine Managers Hires Smith, Opens Boston Office

Trident Marine Managers (TMM), a managing general underwriter for the specialty marine and offshore energy industries and a part of Ryan Specialty Group (RSG), has appointed Clarke Smith as director of Underwriting. This move was announced simultaneously along with the …

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The Hartford Hires Steinberg as Head of Wholesale Property for Navigators

The Hartford has hired William H. Steinberg as head of wholesale property for Navigators, a brand of The Hartford. Steinberg reports to Vince Tizzio, head of the Global Specialty business at The Hartford. As head of wholesale property, Steinberg will …

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High Court to Decide Lawsuit Seeking End to Pennsylvania Disaster Order

Pennsylvania’s highest court on Wednesday granted the Democratic governor’s request and took over a lawsuit by legislative Republicans that could end his pandemic shutdown order. The Supreme Court announced it will decide the case filed by Senate Republicans, seeking to …

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Swiss Re’s Chief Underwriting Officer Schmid Is Stepping Down, Succeeded by Léger

Swiss Re announced the appointment of Thierry Léger as the group chief underwriting officer, effective Sept. 1, 2020. At the same time, the reinsurer announced it is restructuring its life businesses. Léger succeeds Edouard (Edi) Schmid, who has decided to …

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Some Facts About London’s Role in Insuring the Atlantic Slave Trade

London is facing up to its role in insuring the slave trade as part of a sweeping global reassessment of history and racism. This reappraisal was triggered by the death of George Floyd, a black man who died after a …

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State-Based Hackers Target Australia Government, Critical Infrastructure: Prime Minister

Australia’s government, health and education services and various industries are being targeted by sophisticated state-based cyber attacks, Prime Minister Scott Morrison said Friday. Morrison said that while the threat wasn’t new, the frequency of the attacks had been increasing over …

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Nitsche Named Chair of Independent Insurance Agents of Texas’ Board

Robert Nitsche, CEO of the Giddings, Texas-based independent insurance agency The Nitsche Group, has been appointed chair of the board of directors for the 2020-2021 year by the Independent Insurance Agents of Texas (IIAT). Nitsche was installed as chair of …

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Haley Appointed Chief Risk Officer at Educators Insurer Horace Mann in Illinois

Horace Mann Educators Corp., headquartered in Springfield, Ill., has appointed Vice President Paul Haley as chief risk officer. Haley has led risk assessments for the company’s business development efforts since 2018. Haley’s insight into Horace Mann’s business strategy and actuarial …

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Oklahoma Court Says Home Warranty Contract Is Insurance, Nixes Forced Arbitration

A home warranty contract is an insurance contract. That’s the conclusion of the Oklahoma Supreme Court in a case in which the plaintiffs challenged a mandatory arbitration provision in a home warranty contract, maintaining such provisions are not legal under …

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New Law Expands Access to Medical Marijuana in Louisiana

More Louisiana residents will have access to medical marijuana under a significant expansion of the state’s therapeutic cannabis program that was signed into law by Gov. John Bel Edwards. The changes in the law, which take effect in August, allow …

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Ohio May Force GM to Repay $60M in Incentives after Plant Shut Down

Ohio officials are considering forcing General Motors to repay $60 million in public incentives because of its decision to close a massive assembly plant near Youngstown. At issue is an economic development deal from more than a decade ago that …

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Bold Penguin Partners with Ohio’s State Auto on Commercial Insurance

Bold Penguin, a commercial insurance technology provider, has added Columbus, Ohio-based State Automobile Mutual Insurance Co. (State Auto) to its platform, expanding its commercial auto insurance offering launched in March 2020. This integration allows users of Bold Penguin’s platform access …

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Insurers Alert to Avoiding Legionnaire’s Disease Outbreaks as Buildings Reopen

Commercial insurers are scrutinizing building managers’ efforts to avoid outbreaks of Legionnaires’ disease as they re-open movie theaters, gyms, schools and offices that had been closed for months due to the coronavirus pandemic, industry sources told Reuters. Legionnaires’ disease is …

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Marsh, AXA XL Launch Usage-Based Delivery Coverage for Businesses

Marsh, the world’s leading insurance broker and risk advisor, has launched Marsh deliveryPRO, a customizable insurance product designed to make it more efficient for U.S. businesses to meet the increased demand for same-day delivery of their products. Many grocers, delivery …

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Beazley, Vizient Insurance Services to Offer Active Shooter Coverage

Beazley has established a contracted relationship with Vizient Insurance Services, LLC, a subsidiary of Vizient, Inc., to offer active shooter coverage. This coverage is available immediately to Vizient members. Under the terms of the agreement, the policy includes prevention and …

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Texas’ Bexar County Orders Face Mask Use to Fight COVID-19; Fines Possible

Officials in the San Antonio area have ordered people to wear face masks in public when social distancing isn’t possible and warned that businesses could face fines of up to $1,000 for failing to comply with county health policies in …

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AmTrust, CFO to Pay $10.5M to Settle SEC Charges Of Improper Reporting

The Securities and Exchange Commission (SEC) has charged insurance company AmTrust Financial Services and Ronald E. Pipoly Jr., its former chief financial officer, with failing to disclose material facts about how the company estimated its insurance losses and reserves for …

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Worker Sues Oregon Store for $2M After Being Fired Following Racism Complaint

A former Fred Meyer employee who says he was fired from a Portland, Ore., store after he complained about a pattern of racism has filed a $2 million lawsuit against the grocery store chain. Michael Mangum, who is 26 and …

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Markel International Exits Personal Accident, Contingency Insurance on COVID-19 Impact

Markel International, the London-based specialist insurer and division of Markel Corp., has announced its wholesale business will now focus solely on the entertainment book of business within its personal accident, contingency and entertainment (PACE) portfolio. As a result, with immediate …

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US Assure to Issue Residential Builders Risk Policies Via New Online Application

US Assure, the program administrator for the Builders Risk Plan insured by Zurich, has launched XPressBIND, an online application that gives agents the ability to quickly issue residential builders risk policies. The application allows agents to quote and issue builders …

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S&P’s Outlook for AGCS Revised to Negative on ‘Weak Underwriting Performance’

S&P Global Ratings has revised its outlook on Allianz Global Corporate & Specialty SE (AGCS) to negative from stable, while at the same time affirmed the insurer’s “AA” financial strength and issuer credit ratings. The outlook revision reflects S&P’s view …

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MEMIC to Distribute Early $17M Dividend for Eligible Maine Policyholders

In recognition of economic stress being experienced by many of its 18,000 Maine workers’ compensation insurance policyholders, Portland, Maine-based MEMIC’s board of directors has authorized the immediate distribution of a $17 million dividend to eligible employers. The 2020 MEMIC dividend …

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Plymouth Rock Hires Kordes, Announces Changes to Massachusetts Team

Plymouth Rock Assurance has hired Charlie Kordes as vice president of Direct Marketing for its direct-to-consumer auto insurance business. In this newly created role, Kordes will be responsible for advancing Plymouth Rock’s direct marketing operations and organizational practices in its …

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Renaissance Alliance Expands Its New England Insurance Company Network

Renaissance Alliance Insurance Services, a Wellesley, Mass-based membership alliance for independent insurance agencies, has been newly appointed by two insurance companies – Arbella Insurance and Vault Reciprocal Exchange. This serves to expand the carrier network available to Renaissance Alliance’s members, …

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U.S. Automakers Revving Up Production, Stressing Covid Safety at Work and Home

Automakers are speeding up U.S. assembly lines to meet recovering demand, increasingly confident coronavirus safety protocols are working to prevent outbreaks in their plants but wary of the challenges workers face outside. Screening workers for COVID-19 using temperature scans and …

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Reuters: Google Chrome Users Targeted in Major Spyware Campaign

A newly discovered spyware effort attacked users through 32 million downloads of extensions to Google’s market-leading Chrome web browser, researchers at Awake Security told Reuters, highlighting the tech industry’s failure to protect browsers as they are used more for email, …

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Lloyd’s of London Apologizes for Its ‘Shameful’ Role in Atlantic Slave Trade

The Lloyd’s of London insurance market has apologized for its “shameful” role in the 18th and 19th Century Atlantic slave trade and has agreed to fund charities and organizations promoting opportunities for black and ethnic minority groups. About 17 million …

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Lloyd’s Insurers Get Ready to Re-Open in September After Coronavirus Lockdown

Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd’s of London insurance workers will see when they return to the office in September. Having shut its London “underwriting room” …

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Appeals Court Rejects Qualified Immunity for West Virginia Police in Excessive Force Suit

A federal appeals court has vacated part of a finding that cleared five West Virginia police officers on qualified immunity grounds in an excessive force lawsuit, which was filed by the estate of a homeless black man shot 22 times. …

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Florida Residual Workers’ Comp Plan Issues $27.6M in Premium Refunds

Nearly 13,000 policyholders of the Florida Workers’ Compensation Joint Underwriting Association (FWCJUA) will receive workforce premium refunds totaling $27.6 million over the next few months. According to the Florida Department of Financial Services, FWCJUA, the state’s self-funded residual market, recently …

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Third Coast Underwriters Promotes Hueneke to Southeast Regional Director

Third Coast Underwriters (3CU) has promoted Marica Hueneke to regional director for the company’s Southeast Region. She will be based in Nashville, Tenn. According to Mike Valiante, vice president Business Development, Underwriting and Data Analytics, Marica will assume leadership responsibilities …

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COVID-19 Keeps 100s Off the Job at South Dakota Smithfield Plant

Hundreds of workers are still absent from the Smithfield meatpacking plant in Sioux Falls because of the coronavirus pandemic, according to union leaders. AFL-CIO secretary treasurer BJ Motley says between 800 and 1,200 of the plant’s 3,700 employees are either …

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Air Safety Regulator, Boeing Made Mistakes on 737 MAX, Says Federal Aviation Chief

The head of the Federal Aviation Administration, Steve Dickson, acknowledged on Wednesday that Boeing Co. and the U.S. air safety agency both made mistakes on the 737 MAX jet, but rejected senators’ accusations the FAA was “stonewalling” probes after two …

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Health Workers Processing Shock of Virus Fight, Uneasiness in Current Quiet

Outside a back door to a hospital where the coronavirus hit like a hurricane, a half-dozen staffers gathered recently to look back, and look inward. “I am still scared,” Dr. Gwen Hooley told her colleagues at Elmhurst Hospital, which was …

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Lawmaker Wants Government to Require Masks for Airline Passengers

A U.S. senator said on Wednesday he was hoping for bipartisan support in Congress for mandatory rules on masks for air travel after the head of the Federal Aviation Administration again resisted calls for a mandate. While most U.S. airlines …

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Judge OK’s Addition of Louisiana to Spillway Lawsuits

A federal judge in Mississippi has approved Louisiana’s request to be added as a defendant in two lawsuits challenging the way a major Mississippi River flood control structure is operated. The lawsuits filed in December say that more frequent and …

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South Dakota Motorcycle Rally Still On After Sturgis Council Vote

The roar of motorcycles will return to South Dakota’s Black Hills this summer with the Sturgis Motorcycle Rally, but with some major modifications. The Sturgis City Council has voted to proceed with preparations for the Aug. 7-16 rally, now in …

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Arkansas AG Sues TV Pastor Bakker over Virus Treatment Claims

Arkansas’ attorney general sued Missouri-based TV pastor Jim Bakker over his promotion of a product falsely touted as a cure for the illness caused by the coronavirus. Attorney General Leslie Rutledge filed the lawsuit in Arkansas against Bakker and Morningside …

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Backers of Controversial California Homeowners Insurance Bill Like Its Momentum, Timing

Backers of a controversial bill in California, which they say is designed to increase insurance coverage in high-risk wildfire areas by amending Proposition 103, believe it has the right timing and plenty of momentum to go all the way. The …

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Insurtech Buckle Acquires Atlas Financial’s Commercial Auto Subsidiary, Gateway

Buckle, an insurtech startup focused on rideshare insurance, has acquired Gateway Insurance Co., a subsidiary of Schaumburg, Illinois-based Atlas Financial Holdings, for an undisclosed price. The move allows Buckle to expand its commercial auto coverage capacity and reach via a …

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How Americans Feel About Social Media Content Liability, Moderation

Most Americans do not trust social media companies to make the right decisions about what should be allowed on their platforms, but trust the government even less to make those choices, according to a poll released on Tuesday by Gallup …

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Trump Administration to Unveil Proposal for Changing Immunity for Tech Platforms

The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet’s Google and Facebook have had for decades, a department official said on Wednesday, speaking on condition of anonymity. …

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Sailors Stranded by COVID Restrictions Could Refuse to Work, Causing Trade Disruption

Merchant ship crew members stranded at sea for months due to coronavirus-related travel restrictions could now start refusing to further extend their contracts and stop working, potentially disrupting global trade, the International Transport Workers’ Federation said late Monday [June 15]. …

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Colorado Wildfire Grows to 4.2 Square Miles

A lightning-caused wildfire in southwestern Colorado that has led to the evacuation of more than two dozen homes has grown to about 4.2 square miles. The fire started Saturday and was burning on private and U.S. Bureau of Land Management …

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PG&E Will Plead Guilty to Deaths From California Wildfire

Pacific Gas & Electric is expected to plead guilty to 84 felony counts of involuntary manslaughter during a court hearing in which the nation’s largest utility will be confronted with its history of neglect and greed that culminated in a …

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New Marine Cyber Specialist Astaara Gets Investment from West of England P&I Club

Astaara, a marine insurance services business, announced it has secured a significant investment from UK marine insurer West of England P&I Club. Astaara is a new company, focused on risk management and loss prevention, which has developed a marine cyber …

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Liability Waivers Not Always Effective But Employers Take ‘Better Safe Than Sorry’ View

As businesses reopen across the U.S. after coronavirus shutdowns, many are requiring customers and workers to sign forms saying they won’t sue if they catch COVID-19. Businesses fear they could be the target of litigation even if they adhere to …

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FCCI Insurance Group to Begin Writing Commercial Insurance in Pennsylvania

Sarasota, Florida-based property and casualty insurer FCCI Insurance Group (FCCI) is expanding its geographic reach, announcing it will begin writing commercial insurance in the state of Pennsylvania as of September 1, 2020. The Pennsylvania operations will be coordinated through FCCI’s …

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AXA XL Taps Clarke from WTW, Generali’s Warke for UK Broker Management Team

AXA XL announced two additions to its UK broker management team: Michael Clarke has been appointed Regional Broker Distribution leader while Robyn Warke has been named Broker Distribution leader. As Regional Broker Distribution leader, Clarke is responsible for leading AXA …

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Massachusetts’ A.I.M. Mutual Insurance Companies Hires Pitruzzello

Burlington, Mass.-based A.I.M. Mutual Insurance Companies has hired Glen Pitruzzello as director of Claim, responsible for claim operations throughout New England. In this capacity, he reports to President and CEO Michael Standing. Pitruzzello brings 30 years of claim and workers’ …

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Investors’ Suit Alleges Firm Inflated Stock with Misleading Claims About Its Covid Test

An investor lawsuit against a Utah company alleges its principals falsely claimed its coronavirus diagnostic test was “100% accurate” and when questions arose about the claim, directors and officers of the company began selling off their own stock. The securities …

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New Jersey Files Lawsuit Against Trenton, Utility Over Water

New Jersey’s attorney general and environmental protection department have announced a lawsuit against Trenton and its water utility calling for improvements to the city’s water system, including reducing the risk of lead and pathogens in drinking water. The suit announced …

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When UK Firms Transfer Pension Obligations to Insurers, They See Share Boost: Report

Most London-listed companies that transferred pension obligations to insurance companies saw their share prices rise by up to 3% more than sector peers in the six months after completing the deals, a report showed on Wednesday. Two-thirds of the more …

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SUVs More Deadly to Pedestrians Than Passenger Cars, Insurance Study Says

SUVs are more likely than passenger cars to injure or kill pedestrians, according to a new U.S. insurance industry study which recommended design changes to improve safety. Sport utility vehicles “seem to be more deadly to pedestrians than cars are,” …

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Appeals Court Strikes Down Trump TV Ad Drug Price Rule

A U.S. appeals court on Tuesday upheld a ruling that struck down a Trump administration rule that required pharmaceutical companies to include the wholesale prices of their drugs in television advertisements. The U.S. Court of Appeals for the District of …

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Morgan Stanley Sued by Ex-Diversity Officer Alleging Racial Bias in Firing

A former Morgan Stanley diversity officer sued the bank on Tuesday, alleging racial discrimination, retaliation and violation of equal pay laws, according to a court filing. The plaintiff, Marilyn Booker, was a managing director for 26 years until she was …

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Russia Aims to Complete Nord Stream Gas Pipeline, Despite U.S. Objections

Russia’s Gazprom PJSC has made a request with the Danish government to deploy new vessels in the Baltic Sea for work on the disputed Nord Stream 2 gas pipeline, Denmark’s environmental protection agency said. The application is the latest signal …

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China Pacific Insurance Co.’s Shares Rise on $1.8 Billion London Market Debut

Shares in China Pacific Insurance Co. (CPIC) rose on their London market debut on Wednesday, in a boost for a stock exchange link-up between Britain and China designed to improve investment and trade relations between the countries. CPIC said it …

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UK Insurers Cite Swedish Example in Bid to Dodge Coronavirus Biz Income Payouts

Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown. The strategy was raised at the first …

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Lighthouse Completes Merger with Florida’s Prepared Insurance Co.

Lighthouse Property Insurance Corp. has completed its previously announced merger plans with sister carrier, Prepared Insurance Co. Lighthouse will assume the Prepared portfolio and write directly in the state of Florida, resulting in a unified carrier with over $200 million …

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Beazley to Offer Occurrence-Based Media Liability Policy for SMEs

Specialist insurer Beazley has launched an occurrence media liability policy designed to the risks faced by small to medium-sized media outlets and publishers in the United States. Beazley’s media liability policy provides professional indemnity cover written on an occurrence basis. …

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The Liberty Company Insurance Brokers Adds Ausec in California

The Liberty Company Insurance Brokers has added Jamie Ausec to the Irvine, Calif. Ausec specializes in employee benefits. She started her career in insurance 16 years ago and has worked at ADP, Alliant, and most recently Newfront Insurance. The Liberty …

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Taylor Joins POWERS Insurance and Risk Management in St. Louis

POWERS Insurance & Risk Management in St. Louis, Missouri, has hired Patty Taylor as personal lines account manager. In this position, she will handle the ongoing management of personal lines accounts, retaining new and renewal clients, and promoting new business. …

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Texas Returning to Normal Temporary License Process on Aug. 15

The Texas Department of Insurance will return to normal processing for temporary licenses beginning on Aug. 15. Anyone with a temporary license issued August 15 or earlier will have until Nov. 13 to get a regular license. Those with temporary …

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Coor Promoted to COO at BevCap Management

BevCap Management LLC (BevCap), a captive insurance program manager based in McKinney, Texas, has promoted Lynn Coor to the role of chief operating officer. Coor oversees the agency’s daily operations, manages/develops carrier relationships, runs human resources and accounting, and she …

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California Has Now Recorded More Than 5,000 COVID-19 Deaths

California has recorded more than 5,000 COVID-19 deaths as cases continue to climb in several parts of the state. The state Department of Public Health reported 148,855 confirmed cases of the coronavirus and 5,063 deaths since the beginning of the …

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Man Hospitalized After Fatal Las Vegas Fire Suing Building Owner

A 48-year-old man hospitalized since December after being injured in a downtown Las Vegas apartment fire that killed six people is the latest person to sue the building’s owner and others for negligence. Christian Spangler suffered “significant and severe” burns …

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Moody’s Assigns First-Time A3 Rating to Fosun-Backed Peak Re

Moody’s Investors Service has assigned an A3 insurance financial strength rating (IFSR) to Hong Kong-based Peak Reinsurance Co. Ltd. with a stable rating outlook. Peak Re’s A3 IFSR reflects its good franchise in the Asian reinsurance market, solid capitalization, expanding …

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Vermont Governor Signs New Captive Insurance Industry Legislation

Vermont Governor Phil Scott has signed new legislation that aims to strengthen Vermont’s captive insurance laws, increase efficiencies and add flexibility to regulatory policy and procedures. “COVID-19 has dramatically changed the way we all work, live and play, however it …

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No-Deal Brexit Would Deepen Economic Pain for UK’s Coronavirus-Hit Companies

Trade talks between the EU and UK have struggled in recent weeks, increasing the prospect that Britain departs the bloc without a deal and that businesses face an extreme shock when the divorce takes effect. It’s a scenario that would …

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Allianz Global Corporate & Specialty Launches ‘Cyber Protect’ Product for UK Market

Allianz Global Corporate & Specialty (AGCS) announced the launch of a new Allianz Cyber Protect product in the UK. AGCS, Allianz’s entity for large-scale corporate and specialty risks, released its new Allianz Cyber Protect policy that provides a full suite …

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Health Experts Caution Over Disinfectants, Cleaning Methods Used in Rush to Reopen

Businesses across the U.S. have begun intensive Covid-19 disinfection regimens, exposing returning workers and consumers to some chemicals that are largely untested for human health, a development that’s alarming health and environmental safety experts. The rush to disinfect is well-intentioned. …

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N.Y. AG Urges Apple, Google to Protect Consumers Using Contact Tracing Apps

New York Attorney General Letitia James has urged Apple, maker of the iPhone, and Google, developer of the Android operating system, to take steps to protect consumer information and privacy as New Yorkers and Americans continue to battle with COVID-19. …

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Woman Looks to Postpone Suit in New Hampshire Crash that Killed 7 Bikers

A woman who lost her partner in a collision that killed seven motorcyclists last year in New Hampshire wants to put a pause on her lawsuit against the company that employed a pickup truck driver involved in the crash. Mediation …

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Aon’s Seyfried Joins Axis Cyber Insurance Leadership in U.S.

Specialty insurer AXIS Insurance reported it has hired Eric Seyfried as Head of Cyber U.S. Open Market. In this new role, Seyfried will help implement the U.S. strategy for AXIS Insurance’s global cyber and technology business while overseeing underwriting results …

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Smart Cameras at Amazon Provide Real-Time Social Distancing Feedback to Employees

Amazon Inc. is pairing cameras with artificial intelligence to enforce social distancing among employees in its offices and warehouses. The system gives employees real time feedback on whether they are complying with the six feet social distancing rule. “Given social …

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CEO Watsa Buys US$149M of ‘Ridiculously Cheap’ Fairfax Shares

Fairfax Financial Holdings Ltd. announced that Prem Watsa, its chair and CEO, has purchased in the market 482,600 subordinate voting shares of Fairfax for a cost of approximately US$148.95 million. “At our AGM and on our first quarter earnings release …

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Next LGBT Legal Battle for Supreme Court Will Be Religious Exemptions: Analysis

The U.S. Supreme Court’s ruling protecting LGBT rights in the workplace sets the stage for another major legal fight over the scope of religious-rights exemptions to certain federal laws that could dilute the landmark decision’s impact. The justices ruled 6-3 …

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Charles Taylor Taps Former AXA Executive Brown as Group CEO

Charles Taylor, the London-based provider of services and technology solutions to the global insurance market, has appointed Rob Brown as group chief executive officer. With more than three decades of industry experience, Brown has worked as an underwriter, a broker …

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Swiss Re-Backed Nigerian Life Insurer Sees Sales Surge as Pandemic Starts Taking Hold

Nigeria’s biggest insurer is seeing more demand from the government and employers of health workers for life cover as the coronavirus pandemic starts taking hold in Africa’s most populous country. “Health workers are demanding it, other state governments and municipalities …

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