Italian Insurer Cattolica Paves Way for Tie-Up with Generali

Shareholders in Italian cooperative insurer Cattolica Assicurazioni approved its conversion into a joint-stock company on Friday, paving the way to a tie-up with Generali to boost its capital position. Generali last month agreed to buy 24.4% of Cattolica and signed …

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Insurers’ $158 Billion CLO Bet Is Putting the Industry at Risk

They’ve been billed as a solution to the rock-bottom interest rates weighing down the returns of America’s asset managers. Collateralized loan obligations — which package and sell leveraged loans into chunks of varying risk and return — promise safety and …

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China-Backed Hackers ‘Targeted’ COVID-19 Vaccine Firm Moderna, Reuters Reports

Chinese government-linked hackers targeted biotech company Moderna Inc., a U.S.-based coronavirus vaccine research developer, this year in a bid to steal data, according to a U.S. security official tracking Chinese hacking. China on Friday rejected the accusation that hackers linked …

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PG&E Finds Fire Insurance Tough to Get and Costly After Bankruptcy, Fires

PG&E Corp. is finding it very costly to buy fire insurance after wildfires triggered by its power lines sent the company into bankruptcy and left it paying $25.5 billion for claims. It’s hoping customers will foot the bill. The San …

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Lloyd’s Launches Culture Dashboard, Sets Gender Target for Market

The Lloyd’s re/insurance market has launched a Culture Dashboard and has set a gender target for the market supported by a commitment to achieve parity between men and women over the next decade. These measures mark the fulfilment of Lloyd’s …

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COVID-19 Couldn’t Stop Robust Quarter for ILS Issuance: Aon

Usage of insurance linked securities the first six months of 2020 is already 20% higher than all of 2019, underscoring the sector’s momentum and resilience even with the coronavirus pandemic, Aon Securities said in a new report. Aon traced a …

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Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact

Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines in underlying earnings per share of between 10% …

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EU Begins to Tackle Cyber Warfare with Targeted Sanctions

Taking a firm geopolitical stand, the European Union imposed sanctions on targeted individuals and entities from Russia, China and North Korea in a sign that it was tackling cyber warfare head on. As part of the measures, the six individuals …

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S. Africa Insurers’ COVID-19 Payments May Be Too Little, Too Late, for Some Businesses

South African small businesses fighting rejected coronavirus-related claims said insurers’ offers of relief are too little too late for many and could leave some already struggling to survive with nothing at all. Insurers around the world have argued COVID-19 lockdowns …

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Alabama Environmental Regulator, 3M Reach Agreement on Contamination Cleanup

The Alabama Department of Environmental Management announced Friday that it has reached an agreement with chemical giant 3M regarding cleanup of “forever chemicals” at its plant in Decatur and at multiple sites in northwest part of the state. The state …

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USG Insurance Services Hires Florida-Based Morgan

USG Insurance Services, Inc., a national wholesaler and MGA, has hired Mark Morgan as producer/broker: Property, in Tampa, Fla. Morgan has 19 years of industry experience, most recently serving as director of New Business Development for CAT Program at Community …

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Swiss Re Confirms H1 Loss of $1.1B with Combined Ratio of 115.8%

Reinsurance company Swiss Re said on Friday the $2.5 billion in claims and reserves related to COVID-19 that it booked in the first half of the year would likely cover the bulk of its pandemic-related losses. The Zurich-based company, confirming …

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NYPD Reports $1M in Damage to 303 Police Cars Since Floyd Death

New York City police say 303 department vehicles have been vandalized since George Floyd’s May 25 death, causing nearly $1 million in damage. The department said Monday that 14 vehicles were a total loss because of fire damage, seven are …

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Pennsylvania Extends Grace Period for Expiring Driver Licenses

Pennsylvania reported more than 800 new confirmed coronavirus cases on Wednesday, as continuing concern about the virus prompted a new grace period for drivers with expiring licenses. The state Department of Transportation extended the expiration dates for driver licenses, identification …

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Insurance Broker PCF Acquires Avidity Insurance in Kansas

PCF Insurance Services (PCF), headquartered in Woodland Hills, Calif., has acquired Avidity Insurance, an Overland Park, Kansas-based independent insurance agency founded in 2013 by Will Wilson. Avidity offers home, auto, business, life and specialty insurance products and services. Founded in …

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Liberty Mutual’s Aldous Joins EverQuote as VP of Insurance Data, Product Services

EverQuote, Inc., an online insurance marketplace, has added Michael Aldous as vice president of Insurance Data and Product Services. Aldous joins EverQuote from Liberty Mutual Insurance, where he led teams responsible for the development and launch of digital accident & …

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Megadroughts Brought by Climate Change a Challenge for Texas Ranchers

Arthur Uhl III has been ranching for 30 years and routinely has the same lament: “It doesn’t rain enough.” Uhl, who works on his family’s San Angelo-area ranches, needs the rain to grow the grass that feeds his livestock. But …

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Schools, not Local Health Officials, Decide on Class Start, Texas AG Says

Local health officials in Texas do not have the authority to close schools to prevent spread of the coronavirus, state Attorney General Ken Paxton said July 28, pushing that decision solely into the hands of school officials. Paxton issued a …

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UPS Freight to Pay $75K to Resolve Kansas Disability Discrimination Lawsuit

UPS Freight will pay $75,000 to resolve a three-year old federal lawsuit over disability discrimination at its service center in Kansas City, Kansas, federal authorities said. The U.S. Equal Employment Opportunity Commission (EEOC) filed suit in August 2017 (Equal Employment …

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Former Michigan Insurance Agent Pleads No Contest to Embezzlement Charges

A plea deal has been reached with a former Genesee County, Michigan, insurance agent who allegedly embezzled from her clients and provided them with phony insurance certificates for home and auto insurance, the state’s department of insurance reported. The Michigan …

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Chubb CEO Says U.S. Failure to Manage Covid-19 Hurts Economy, Global Image

Global insurer Chubb’s employees have begun to return to their offices in many countries around the world as governments have brought the coronavirus pandemic under control. However, the United State government has not been able to get the virus under …

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As Benefits Expire, Senate Adjourns Without Congressional Deal on Coronavirus Aid

Just one day before a federal jobless benefit was set to expire, the U.S. Congress was no closer on Thursday to a deal extending or replacing the extra $600 per week in payments to tens of millions of Americans thrown …

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First Fidelity Brokerage of N.Y., Moulton Insurance of Ma., Acquired by PCF

PCF Insurance Services (PCF), headquartered in Woodland Hills, Calif., has acquired two brokerages based in the Eastern U.S. The brokerages that have joined PCF include: First Fidelity Brokerage, a New York City-based full-service property & casualty insurance broker with a …

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Reuters: Rite Aid Deployed China-Linked Facial Recognition in Poor Neighborhoods

Over about eight years, the American drugstore chain Rite Aid Corp quietly added facial recognition systems to 200 stores across the United States, in one of the largest rollouts of such technology among retailers in the country, a Reuters investigation …

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COVID-19 Pandemic to Intensify Risks for Insurers: EU Regulator

Insurers in the European Union are confronted with risks on several fronts that are intensified by the COVID-19 pandemic, and could face lengthy legal battles from claims relating to lockdowns, the bloc’s insurance watchdog said on Thursday. Insurers and reinsurers …

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Insurer Canopius Promotes Pike as Head of Credit & Political Risk

Canopius announced it has promoted Stephen Pike as head of Credit & Political Risk (CPR) team, part of the Credit, Political & Crisis (CPC) division, effective immediately. Pike joined Canopius as an Underwriter in CPR in 2017 from ED&F Man …

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AIR Worldwide Releases Updated Caribbean Cyclone and Earthquake Models

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Tropical Cyclone and Earthquake Models for the Caribbean. These models will provide insurers and reinsurers with a comprehensive view of risk across 29 countries and territories in …

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World Insurance Associates Acquires Airways International Insurance Services

World Insurance Associates LLC (WIA) acquired Airways International Insurance Services LLC (AIIS) of Mickelton, N.J., on May 1, 2020. Terms of the transaction were not disclosed. Alex Morris founded Airways International Insurance Services in 2006 after more than 30 years …

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Japan Government Urges Firms to Aim for 70% Telecommuting as COVID Cases Surge

Japan’s economy minister said on Monday [July 27] the government would urge businesses to aim for 70% telecommuting and enhance other social distancing measures amid a rise in coronavirus cases among workers, some infected during after-work socializing. Though Japan has …

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London Expects Only Half of Bankers to Return to Their Offices by Year-End

London’s normally buzzing financial districts will still be a pale shadow by the end of the year, as banks plan for no more than half their staff, who have mostly worked from home throughout the COVID-19 pandemic, to come to …

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Generali’s H1 Net Profit Drops 56.7% to €774M ($909.8M) with €84M ($98.7M) COVID Hit

Generali’s first half net profit dropped by 56.7% to €774 million ($909.8 million), compared with €1.8 billion (US$2.1 billion) reported for the same period in 2019. The combined ratio improved to 89.5% (91.8% in H1 2019), driven by the improvement …

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New Hampshire Investigating Ventilation in Nursing Homes After Virus Outbreaks

New Hampshire health and fire safety officials will spend the next two weeks investigating whether ventilation systems have contributed to coronavirus outbreaks at nursing homes, Gov. Chris Sununu said Tuesday. More than 30 long-term care facilities have experienced outbreaks, and …

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Finland’s Sampo Oyj Explores Cash Offer of UK Insurer Hastings

Finnish insurance group Sampo Oyj is exploring an entry into the UK market with a potential bid for general insurer Hastings Group Holdings Plc. Sampo and Hastings’s biggest shareholder, Rand Merchant Investment Holdings Ltd., have approached the London-listed insurer about …

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Order by Connecticut Gov Presumes Workers Comp Benefits for Essential Employees

Connecticut Gov. Ned Lamont has signed an executive order that state union leaders predict will provide hundreds, possibly thousands, of front-line workers “presumptive eligibility” for workers compensation benefits if they contracted the coronavirus while on the job during the early …

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RB Jones Marine Hires Great American’s Gambino, Adds Ocean Cargo Product

RB Jones Marine, a business unit of H.W. Kaufman Group that focuses on the commercial marine and excess energy space, has launched an Ocean Cargo Stock Throughput Product in partnership with Atain Insurance Companies. RB Jones has also added John …

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Houston’s CrossCover Insurance Services Adds 3 to Leadership Team

Houston-based CrossCover Insurance Services, a managing general underwriter (MGU) of middle-market commercial properties, has expanded its leadership team with the appointments of Brett Dupre, director of Specialty and Underwriting; Sam McBirney, director of General Property; and Mason Rudloff, director of …

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New Orleans Archdiocese nears Settlement with US over Katrina Aid

The Roman Catholic Archdiocese of New Orleans is nearing a settlement with federal authorities in a lawsuit alleging fraud involving Hurricane Katrina aid, according to court records filed on July 27. The federal court filing in New Orleans says federal …

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Wisconsin Monitoring Contaminated Water Spill from Fire Extinguisher Maker

Wisconsin environmental officials said July 27 that they’re monitoring cleanup of what they’re calling an accidental release of contaminated river and groundwater at a Marinette plant that manufactures fire extinguishers and fire suppression systems. Department of Natural Resources officials said …

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Claiming Plaintiff Farmer Not Ruined, Bayer Says Herbicide Verdict Should Be Tossed

Bayer AG contended in court papers that a jury verdict in favor of a Missouri peach farmer was based on a false premise because a private investigator it hired found the farmer was still in business. A jury in U.S. …

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Without More Aid, Many Small Businesses Won’t Make It

OAKLAND, Calif./NEW YORK — After surviving two strokes at age 27, Olivia Colt threw herself into starting a catering business, a lifelong dream. Ten years and another stroke later, she had built Salt & Honey Catering Plus Events into a …

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CoreLogic Bidders Seek Shareholders’ Support to Replace Nine Directors

The investors seeking to take over CoreLogic Inc. plan to solicit support from fellow shareholders to replace nine directors, after the company rejected their $7 billion proposal to take it private. Cannae Holdings Inc. and Senator Investor Group previously said …

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The Importance of Forensic Accounting to Future Hurricane BI Claims

As a licensed general contractor and a certified public accountant in South Florida who has been advising clients in accounting- and construction-related issues for the past 15 years, I have seen hurricane seasons come and go – and I have …

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PCF Insurance Services Acquires Horizon Insurance of Florida

PCF Insurance Services (PCF), headquartered in Woodland Hills, Calif., has acquired Horizon Insurance, a Bradenton, Fla.-based provider of personal, commercial and financial services insurance. Horizon Insurance is an independent agent started in February 2004 when Lori P. Augustyniak purchased the …

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Police: Hell’s Angel Sparked Destructive Riots in Minneapolis

Police say a man captured on surveillance video breaking windows at a south Minneapolis, Minn., auto parts store in the days after George Floyd’s death is a Hell’s Angels member who was bent on stirring up social unrest. Dubbed “Umbrella …

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Washington Extends Relief for Employers Struggling to Pay Workers’ Comp

The Washington State Department of Labor & Industries is again extending the deadline for employers that are finding it difficult to pay their workers’ compensation premiums during the COVID-19 outbreak. Under L&I’s extension, employers who are participating in the Employer …

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Higginbotham Enters New Mexico with Pat Campbell Merger

Higginbotham and Pat Campbell Insurance, an independent agency in Las Cruces, N.M., have merged operations. Both firms broker commercial and personal property/casualty insurance, employee benefits and individual life and health insurance. This is Higginbotham’s first brick-and-mortar in New Mexico, adding …

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Hanover Insurance Sees Profit Jump, Limited COVID Impact in Q2

The Hanover Insurance Group Inc. reported net income of $115.2 million in the second quarter of 2020, compared to $74.0 million in the prior-year quarter. The insurer said it has experienced limited COVID-19-related loss activity to date, although it increased …

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Arkansas Music Festival Cited for Violations of Virus Safety Rules

An Arkansas music festival that attracted thousands of people last weekend was cited by the state for violating coronavirus safety rules after attendees were seen not wearing masks or following social distancing requirements. Arkansas Alcohol Beverage Control cited organizers of …

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COVID-19 Costs Push Chubb to $331M Loss in Q2

The coronavirus pandemic has forced global insurer Chubb’s net income to plunge, and in the second quarter, fall to a sizable loss. Chubb lost $331 million compared to net income of more than $1.1 billion during the same quarter in …

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Insurance Broker Acrisure Acquires Tulco’s Artificial Intelligence Insurance Business

Insurance broker Acrisure announced that it has acquired artificial intelligence (AI) company Tulco LLC’s insurance practice with the aim of bringing data science, AI and machine learning capabilities to the insurance brokerage industry. Acrisure said it will harness AI capabilities …

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Hawaii’s Battle is Now Complacency Following Another Hurricane Near-Miss

Hurricane Douglas joined a long list of hurricanes that have come near the Hawaiian Islands but didn’t cause major damage. Kauai Mayor Derek Kawakami said such experiences unfortunately help people become complacent and think disaster will never strike them. “What …

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Moderate Aftershock of M7.8 Quake Off Alaska Confirmed

A moderate earthquake, an aftershock of last week’s magnitude 7.8 quake off the Alaska Peninsula, occurred in the same region Monday, the Alaska Earthquake Center confirmed. The center said Monday’s quake had a preliminary magnitude of 5.5 and was located …

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Brown & Brown CEO Sees ‘Sporadic’ Economic Recovery Ahead After Own COVID Recovery

Insurance broker Brown & Brown, Inc. reported second quarter revenues of $598.8 million, an increase of $23.6 million, or 4.1%, compared to the second quarter of the prior year, Commissions and fees increased in the quarter by 4.4% and organic …

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Moped Sharing Firm Revel Halts New York Service After Second Reported Death

Electric moped sharing service Revel said on Tuesday it was suspending service in New York after a string of accidents and reports of a second rider killed in the city in recent weeks. Revel said in a statement it was …

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South Korea Investigates Suspected Safety Issues with Tesla Vehicles

South Korea said it is investigating suspected safety issues with vehicles made by U.S. automaker Tesla Inc, which is competing strongly with Hyundai Motor Co in the South Korean electric vehicle market. Braking and steering systems including the Autopilot function …

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Man Arrested in Connection with Delaware Church Fire Causing $250K in Damages

A Delaware man has been accused of setting multiple fires inside a church sanctuary. The Delaware State Fire Marshal’s office arrested Thomas Loftis III in connection with the blaze that erupted at Reach Church, news outlets reported. He was captured …

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First American Insurance Agency Acquires Massachusetts’ Morin & Foy

First American Insurance Agency, an independent insurance firm, has acquired Morin & Foy, a property and casualty firm situated in Brimfield, Mass. First American Insurance Agency is only acquiring the Brimfield, Mass., location. Morin & Foy serves its surrounding communities …

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InsurTech NY Opens Applications for October Cohort

InsurTech NY has announced that it will be accepting applications for its growth-stage InsurTech accelerator. The application window will be open from July 21 to August 17, and applications will be accepted through the InsurTech NY website. The program will …

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Aon and Insurtech Skytek Collaborate to Track Marine Assets During Hurricane Season

With the National Oceanic and Atmospheric Administration (NOAA) warning 2020 will see “above-normal” hurricane activity, Skytek, in collaboration with Aon plc, has responded to the needs of marine re/insurance companies with a new hurricane tracking system, which enables them to …

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Analysis: Fintech Funding Slides as Coronavirus Casts a Chill with Venture Capitalists

Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …

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First Insurance Company of Hawaii Launches Admitted Parametric Product

First Insurance Company of Hawaii (FICOH) has launched a parametric product for Hawaii homeowners and renters. The FirstTrack product provides coverage for expenses that fall below most hurricane policy deductibles, including hurricane preparation and immediate post-hurricane expenses. According to FICOH, …

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S. African Insurers Bow to Policyholder Demands to Pay COVID Biz Interruption Claims

South African insurers are bowing to demands for the payment of losses that businesses suffered during the nation’s lockdown. Momentum Metropolitan Holdings Ltd.’s Guardrisk will make settlement payments to policyholders who submitted business-interruption claims for losses suffered when all but …

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Colonial Claims of Florida Appoints Cerasuolo as Chief Executive Officer

Colonial Claims, an independent insurance claims service company, has appointed John Cerasuolo as its new chief executive officer. Cerasuolo will work on Colonial’s executive management team, and will serve alongside founder Doug Branham, who will continue his involvement as chairman. …

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Kentucky Bars Ordered to Close, Restaurants to Reduce Capacity as Virus Spikes

Kentucky’s governor on Monday ordered that bars close and restaurants scale back indoor service and urged school districts to wait until later in August to resume in-person classes in a new round of actions to combat a spike in coronavirus …

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Rising Virus Cases Spark Concern for Florida Nursing Homes

The coronavirus transformed Florida’s nursing homes into closely guarded fortresses beginning in March, with the state banning family visits, isolating infected residents in separate wings and now requiring staff be tested every two weeks. But the explosion of cases statewide …

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Celebrating Insurers Warned Michigan COVID Ruling Not the Knockout Punch They Wanted

A recent ruling from a Michigan judge that business interruption claims payouts require tangible alteration to a property may have sounded like a knockout win for the insurance industry but a legal expert has a slightly different take. Tom Baker, …

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McConnell’s Liability Shield Among Hurdles for Coronavirus Relief Bill

Stimulus talks between President Donald Trump’s representatives and Democrats bogged down Tuesday over demands by Senate Majority Leader Mitch McConnell that his proposed changes to liability law be included wholesale in the aid package. House Speaker Nancy Pelosi said McConnell’s …

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Citing Safety, Union Sues to Block Trump Waivers That Speed Up Poultry Lines

A food workers’ union filed a federal lawsuit Tuesday to block Trump administration waivers that allow poultry plants to operate production lines at a faster pace, arguing the higher speeds endanger employees. The suit challenges the U.S. Department of Agriculture’s …

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COVID-19 Surge in Texas Amid Hurricane Hanna Cleanup in Texas

As recovery and cleanup efforts got underway on July 27 in South Texas in the wake of a downgraded Hurricane Hanna, worried residents confronted the prospect of undertaking the effort amid a surge in coronavirus cases that has left many …

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Karen Clark & Co. Estimates $350M Insured Loss from Hurricane Hanna

Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National Flood Insurance Program (NFIP) losses. …

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Hawaiian Islands Avoided Direct Hit From Hurricane Douglas

Hawaii avoided a direct hit from Hurricane Douglas and the Category 1 storm was swirling just north of the island chain. The Central Pacific Warning Center lifted the hurricane warning on Monday for the island of Kauai, the final remaining …

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Former USC Gynecologist Pleads Not Guilty to Six New Sex Charges

A former University of Southern California campus gynecologist accused of sexually assaulting 21 patients pleaded not guilty Friday to six new charges. George Tyndall, 73, entered pleas to five counts of sexual penetration of an unconscious person and one count …

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Guy Carpenter Names Piatti as Managing Director of Global Risk Solutions

Guy Carpenter announced today the appointment of Andrea Piatti as a managing director, Global Risk Solutions. Piatti will be responsible for serving clients in the customized reinsurance space across Europe and Middle East and North Africa (MENA), including structured reinsurance …

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GOP Senator Wants to Tie Internet Firms’ Liability Immunity to Curb on Behavioral Ads

Republican Senator Josh Hawley on Tuesday introduced legislation that would penalize large tech companies that sell or show targeted advertisements by threatening a legal immunity enjoyed by the industry — the latest onslaught on Big Tech’s business practices. The bill, …

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Firms Need Immediate Rethink on U.S. Data Transfers, Says EU Privacy Watchdog

Companies seeking to transfer data to the United States must revert to new arrangements with immediate effect after the Privacy Shield transatlantic pact was declared invalid last week, a European Union watchdog said on Friday. The privacy watchdog said the …

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Average Age of Cars Americans Are Driving Nears 12 Years: IHS Markit

Americans are hanging on to their cars and trucks longer, pushing the average age of vehicles on the road to the highest level in nearly 20 years even before the coronavirus hit, according to new data from IHS Markit Ltd. …

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Insurtech Zego Partners with E-Scooter Firm, Ginger, to Insure 1st UK E-Scooter Trial

London-based insurtech Zego has partnered with e-scooter company, Ginger, to provide insurance for the UK’s first ever e-scooter trial, which has just launched in the Tees Valley, a city region in the north east of England. The partnership follows the …

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The Duffy Family of Insurance Agencies Acquires The N. Pingree Insurance Agency

The N. Pingree Insurance Agency and its Georgetown and Haverhill, Mass., offices have joined the Duffy Family of Insurance Agencies. N. Pingree Insurance Agency was established in 1938 by H. Nelson Pingree. Brothers Robert and Calvin Pingree took over for …

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Court Rules New Jersey Can Shut Down Gym That Defied Closure

A state judge ruled that New Jersey authorities can shut down a gym that has repeatedly defied Governor Phil Murphy’s executive order to remain closed during the COVID-19 pandemic. The ruling held Atilis Gym of Bellmawr, in the Philadelphia suburbs, …

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Sapiens International Corporation Enters Agreement to Acquire Delphi Technology

Sapiens International Corporation, a global provider of software solutions for the insurance industry, has entered into a definitive agreement to acquire Delphi Technology Inc. (Delphi), a Boston, Mass.-headquartered vendor of software solutions for property and casualty carriers with a focus …

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Insurtech Fundraising Rises in Q2 with $1.6 Billion Invested

Following the COVID-19-induced slowdown in global insurtech investment during the first months of 2020, insurtech firms raised $1.56 billion during the second quarter. The total, up 71% over Q1, was driven in part by later-stage investments, including four “mega-rounds” in …

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Munich Re’s Head of Epidemic Risk Solutions Discusses Pandemic Insurance Market

Summary: Dr. Gunther Kraut, head of Epidemic Risk Solutions at Munich Re, discusses the current state of the pandemic insurance market and what can be expected for the future. He says one of the challenges of developing this market, aside …

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Removal of Wrecked Cargo Ship in Georgia Port Stalled by Virus, Hurricane Season

Efforts to cut apart and remove a capsized cargo ship off the Georgia coast are being delayed for more than two months because of hurricane season and challenges posed by the coronavirus, project leaders said Friday. Those operations will be …

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West Virginia City Faces Health Crisis from Water Outage

A southern West Virginia town has been without water service for several days after a pump broke, prompting concerns about a shortage of a precious resource during the coronavirus pandemic. Residents of the 563-customer system are having to scramble to …

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Judge Nixes 7% Plaintiffs Attorneys’ Fee on Opioid Settlements

A federal judge overseeing thousands of opioid lawsuits declined on Monday to grant a demand by plaintiffs attorneys for fees that could be worth billions of dollars, a request drug company defendants had said would jeopardize settlement talks. In February, …

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Trump Administration Wants FCC to Write Rules on Liability for Social Media Content

A U.S. Commerce Department agency on Monday petitioned the Federal Communications Commission to reinterpret a 1996 law to require transparency in how social media companies moderate content, after President Donald Trump asked it to intervene in the matter. Trump directed …

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U.S. Volkswagen Owners Cheated in Diesel Scam Receive $9.8 Billion in Settlements

U.S. buyers of polluting Volkswagen AG vehicles received more than $9.8 billion in settlements, the Federal Trade Commission (FTC) said on Monday. Volkswagen agreed to offer to buy back or repair more than 550,000 polluting diesel U.S. vehicles after it …

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California Scrutinizing Amazon’s Treatment of Workers During Coronavirus Outbreak

California’s attorney general and state and local agencies are investigating whether Amazon.com Inc. has taken adequate steps to protect its workers from the coronavirus pandemic, according to a court filing on Monday. Attorney General Xavier Becerra’s office, California’s Division of …

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Workers Compensation Rates Could Start Rising in 2021, Says W.R. Berkley CEO

For W.R. Berkley Corp. and most other workers’ compensation carriers, rates have declined for some time. That trend could start reversing itself starting in 2021, CEO W. Robert Berkley Jr. predicted recently. “I would not be surprised as we make …

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IAT Insurance Adds Open Lot Coverage for Franchised Auto Dealerships

IAT Insurance Group has expanded its multi-line DealerPack offerings for franchised auto dealerships to include dealers open lot insurance. Key elements of the policies include: Available as an option within the DealerPack package policy Guaranteed cost Available for “non-floored only” …

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Florida’s Citizens Won’t Resume Policy Cancellations in August After All

Florida’s state-run insurer Citizens Property Insurance Corp. will extend its moratorium on cancellations until the end of 2020 despite saying earlier this month it would resume processing them on Aug. 15. The decision comes after Florida CFO Jimmy Patronis urged …

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Credit Scoring Battle Brewing Between Washington Commissioner and Insurer Groups

Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums for auto, homeowners, renters and life insurance policies. Kreidler …

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Girl Killed in Michigan When Construction Equipment Falls Onto Car

A construction vehicle fell from a trailer onto a car at a suburban Detroit, Michigan, intersection on July 25 and killed a 10-year-old girl inside, police said. The backhoe loader was being pulled by a dump truck that appeared to …

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Pathfinder/LL&D Insurance Group Joins Texas’ Insurors Group

Insurors Group LLC, an alliance of independent insurance agents in Texas, has added Pathfinder/LL&D Insurance Group LLC located in Houston, as a member agency. Led by CEO Scott West, Pathfinder/LL&D Insurance Group was founded in 2001 by the merger of …

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California Governor Pledging to Support Essential Workers

California Gov. Gavin Newsom pledged Friday to do more to protect farm workers, grocery clerks and other essential workers – many of whom are Latino –from the health and economic harms of the coronavirus as the infection spreads through their …

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Harry And Meghan File Lawsuit Over Photo of Son at California Home

Prince Harry and Meghan Markle sued to stop the sale and publication of a photo of their son Archie that they say was shot at their Los Angeles-area home in invasion of their privacy. The royal couple gives a detailed …

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Windows Broken Fire Set During Seattle Protests

Protesters in Seattle broke through a fence Saturday where a youth detention facility was being built, with some people setting a fire and damaging a portable trailer, authorities said. Thousands of protesters ad gathered near downtown Seattle on Saturday in …

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Anchorage Tsunami Alerts Were Sent by Mistake, Officials Says

The magnitude 7.8 earthquake in the Aleutian Islands last week should not have sent tsunami alerts as far as Anchorage, Alaska’s most populous city, the Alaska Tsunami Warning Center said. The warnings were justified for coastal communities where they prompted …

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Berkshire Hathaway GUARD Offers Accountants Professional Liability in Pennsylvania

Berkshire Hathaway GUARD Insurance Companies recently announced it added Pennsylvania to the list of states where the insurer offers its Accountants Professional Liability product. In 2016, it began writing Professional Liability for a limited number of classes in 13 states …

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Delaware Judge Upholds Dismissal Call in Softball Injury Lawsuit

A Delaware judge has refused to overturn her decision to toss a lawsuit by a paralegal who said he was targeted for retaliation after being injured while playing on his law firm’s softball team and filing a workers’ compensation claim. …

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Concern Over Small Businesses Grows as Coronavirus Resurges, Federal Aid Expires

The number of outright failures of U.S. small businesses in the first months of the coronavirus pandemic was comparatively modest, but the months ahead look far grimmer as cash balances dwindle, federal help expires, and the disease surges back. That …

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AIR Worldwide Releases Updated Earthquake Model for Australia

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. These updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia (GA), which challenged established conceptions of Australia’s seismic …

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The Hilb Group Acquires Massachusetts’ Eldredge & Lumpkin Insurance Agency

The Hilb Group LLC (THG) has acquired Massachusetts-based Eldredge & Lumpkin Insurance Agency Inc. (E&L). The transaction became effective on July 1, 2020. Located in Chatham, Mass., E&L is a full–service agency primarily providing property and casualty insurance for personal …

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AXA XL Presents New Leadership Team for Americas

As part of the proposed changes to its insurance operating model announced in April, AXA XL has appointed its new Americas leadership team, reporting to Joe Tocco, chief executive officer for the Americas. The appointments include: Donna Nadeau to chief …

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Meat Packing Plant Owners Defend Operations During Pandemic

As part of an investigation into the spread of coronavirus at U.S. meat plants, Democratic Senators Elizabeth Warren and Cory Booker released responses from major producers that defended their operations during the pandemic. The four biggest meatpackers — Tyson Foods …

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AXA XL Announces Leadership Team for UK & Lloyd’s Region

AXA XL announced the new leadership team for its UK & Lloyd’s region. Effective immediately, the appointments are part of the proposed changes to the operating model of AXA XL’s Insurance business following a strategic review. They are in line …

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Germany to Reform Regulation of Insurers, Banks, Payment Firms on Wirecard Scandal

German Finance Minister Olaf Scholz intends to unveil a reform of the government’s financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of Chancellor Angela Merkel’s government. Scholz’s 16-point “action plan” would install …

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South Africa Retailer Steinhoff Offers $1B to Settle Global Accounting Fraud Lawsuits

South Africa’s Steinhoff has proposed to pay around $1 billion to settle outstanding legal claims following a massive accounting fraud, a fraction of the over 9 billion euros ($10.5 billion) claimants are seeking. The announcement sent its shares up over …

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Third Wave of Severe Flooding Expected in China

China warned that the worst of the deluges that have led millions to be evacuated may be yet to come, after a third wave of floods formed in the upper reaches of the Yangtze River on Sunday. “The flood control …

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South African Insurer Santam to Pay Virus Relief to Clients with Biz Interruption Cover

South Africa’s largest property and casualty insurer will pay as much as one billion rand ($60 million) in relief to clients with business-interruption cover hit financially by the coronavirus pandemic. Santam Ltd. will begin making relief payments next week, mainly …

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Kentucky Teen Settles Lawsuit Against Washington Post Over D.C. Encounter

A Kentucky teen and The Washington Post have settled a lawsuit over the newspaper’s coverage of his encounter with a Native American man at the Lincoln Memorial in Washington last year. The teen’s lawyers said on social media Friday that …

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Court Affirms Class Action Suit Against State Farm in Kentucky Claim Underpayment Case

A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000 policyholders. A 6th Circuit Court of …

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Workers’ Compensation Rates Won’t Be Adjusted for Coronavirus Experience This Year

The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and chief economist for the Insurance Information …

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Trump Signs Executive Orders to Lower Prescription Drug Prices

U.S. President Donald Trump on Friday signed four executive orders aimed at lowering the prices Americans pay for prescription drugs, as he faces an uphill re-election battle and criticism over his handling of the coronavirus pandemic. Trump has previously proposed …

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Indivior to Pay $600M to Settle Claims of Deceptive Marketing of Opioid Treatment

Indivior Plc has agreed to pay $600 million and have a subsidiary plead guilty to a felony charge to resolve U.S. allegations that it engaged in an illegal scheme to boost prescriptions of its opioid addiction treatment Suboxone. The U.S. …

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Hanna Pounds South Texas Coast Already Beset by COVID

Hurricane Hanna pummeled the south Texas coast on Saturday night with howling winds and a surging sea that threatened a broad area already contending with an intense spike in coronavirus deaths. Hanna is the first hurricane for the 2020 Atlantic …

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Worker Dies at ArcelorMittal East Chicago Steel Mill

A worker at an ArcelorMittal steel mill in northwestern Indiana died after he was struck by a vehicle, the company said. The man died July 21 after being hit by a coil tractor at the Indiana Harbor steel mill in …

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Chemical Firm BASF and Its Law Firm to Pay $72.5M to Close Talcum-Asbestos Claims

BASF SE, the world’s biggest chemical maker, and a law firm agreed to pay a combined $72.5 million to resolve claims they hid evidence that certain talc products contained asbestos in an effort to scuttle thousands of lawsuits. Executives of …

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Global Natural Catastrophe Losses During H1 Ranged from $68B to $75B: Munich Re, Aon

Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural disasters across the globe …

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Geico Sued for Allegedly ‘Woefully Inadequate’ Coronavirus Auto Insurance Discount

Berkshire Hathaway’s Geico, the country’s second largest auto insurer, is being targeted by a potential class action for allegedly overcharging its policyholders during the pandemic. A lawsuit filed in federal court in Illinois alleges that the 15% “Geico Giveback” premium …

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Anchorage Mayor Imposing New Restrictions Amid COVID-19 Cases

The mayor of Anchorage is limiting gathering sizes and the number of people allowed in bars, restaurants and entertainment venues in response to rising coronavirus cases. The order, by Mayor Ethan Berkowitz, takes effect Friday and says that due to …

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Clint Eastwood Files Suit in California Against CBD Sellers Over Use of His Name

Clint Eastwood sued several companies that sell CBD supplements on Wednesday, alleging that they are falsely using his name and image to push products he would never agree to endorse. Two lawsuits filed in federal court in Los Angeles include …

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New York Company to Pay $200K in Penalties for Safety Violations

A home and personal care fabric products manufacturer will correct hazards at its five manufacturing facilities in New York and pay $200,000 in penalties to resolve safety violations after an investigation by the U.S. Department of Labor’s Occupational Safety and …

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Global Risk Solutions Acquires Connecticut’s William Kramer & Associates

Global Risk Solutions Inc. (GRS), a provider of claims adjusting and environmental risk management solutions, has acquired William Kramer & Associates (WKA). Terms of the acquisition were not disclosed. GRS Complex Claims Solutions (CCS) specializes in large and complex claims, …

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The Central Insurance Companies Promotes Zollner to Northeast Regional VP

The Central Insurance Companies has promoted Matt Zollner to vice president of the Northeast regional office. In his new role, Zollner will be relocating to the Boston area this fall. He will replace Vice President Jocelyn Pfeifer, who is being …

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Everest Insurance Promotes Karmilowicz to President, CEO; Mulray to COO

Everest Insurance reports that Michael Karmilowicz has been named president and chief executive officer and Michael Mulray has been named the chief operating officer. They assume these new positions immediately. Karmilowicz joined Everest Insurance in July of 2015, and most …

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Facebook’s WhatsApp to Expand Indian Partnerships to Offer Pensions, Insurance

Facebook Inc.’s WhatsApp plans to team up with more Indian lenders to expand banking services in rural areas and for lower income individuals, the messaging platform’s country head said on Wednesday. WhatsApp, which counts India as its biggest market with …

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Insurers Exploring ‘New World’ of Police Officer Professional Liability

U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police misconduct. They see a potential market …

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London’s International Underwriting Association Publishes New Motor Terrorism Clause

A new model clause for clarifying coverage of motor terrorism risks has been published by the International Underwriting Association. It has been developed after a growing spate of terrorist attacks using vehicles led to concern about a potential concentration of …

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Plastic Pollution in Oceans Expected to Triple by 2040

The annual flow of plastics into our oceans is on a trajectory to triple over the next 20 years, which could add up to 110 pounds of plastic trash for every meter of coastline worldwide, a new report finds. That …

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Everest Insurance Division Names Karmilowicz as President & CEO, Mulray as COO

Everest Re Group Ltd. announced today that Michael Karmilowicz has been named president and CEO of the Everest Insurance Division with Michael Mulray being named the division’s chief operating officer. Karmilowicz and Mulray assume these positions with immediate effect. Karmilowicz …

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London Broker Tysers Appoints Buesnel from Deloitte as CEO

Tysers, the independent, London-based wholesale insurance broker, announced that Clive Buesnel will become its next chief executive officer, subject to regulatory approval. Buesnel has spent much of his career in both operational and strategic roles in the UK and global …

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German Prosecutors Arrest Ex-Wirecard Execs on Suspicion of Running Criminal Racket

German prosecutors arrested three former top executives of Wirecard on Wednesday, saying it suspected them of masterminding a criminal racket to fake the company’s accounts and bilk creditors of billions of euros. Former Chief Executive Markus Braun, already a suspect, …

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UK, EU Clash Over Post-Brexit Trade Deal as End-of-Year Transition Period Looms

Britain and the European Union clashed on Thursday over the chances of securing a free trade agreement, with Brussels deeming it “unlikely” but London holding out hope one could be reached in September. Since Britain left the bloc in January, …

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North Carolina Capital City Bans Late-Night Alcohol Sales

A North Carolina mayor has banned alcohol sales in the city after 11 p.m. in an effort to curb the coronavirus spread. Raleigh Mayor Mary-Ann Baldwin signed an executive order Monday announcing the sale ban in bars, restaurants and grocery …

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$3.5M Settlement Reached in Death of Black Man Shot 22 Times by West Virginia Police

A West Virginia city has agreed to settle an excessive force lawsuit filed by the family of a homeless Black man who was shot 22 times by police, an attorney said. Christopher E. Brown, the attorney for the family of …

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Former Athlete, Others Sue University of Nebraska over Assault Claims

A former University of Nebraska-Lincoln volleyball player and eight other women have sued the university, alleging it did not properly investigate complaints of sexual assault and harassment. The complaint filed in U.S. District Court in Nebraska outlines an alleged pattern …

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State Insurance Commissioners Vow to Probe Role of Race in Insurance

The nation’s state insurance commissioner said they are forming a special committee to address issues of race in insurance including the level of diversity in the industry and insurance product design and pricing practices that disadvantage minorities. “It is the …

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Crest in Arizona Names McGee Vice President/Producer in Commercial Lines

Crest Insurance Group of Tucson, Ariz., has named Mike McGee a vice president/producer in the commercial lines division. McGee has a background in risk management. He has worked as a Hotshot & Helitack Firefighter and also served in the U.S. …

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Home, Auto MGA Branch Plans Conversion to Reciprocal Exchange After Raising $24M

Branch, an insurtech startup focused on bundling digital home and auto insurance, is eying national expansion through 2021 after nailing down $24 million in new financing. The managing general agent (MGA) also plans to add a reciprocal exchange to its …

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Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims

British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural catastrophe. The Lloyd’s of London insurer …

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New Lloyd’s Syndicate-in-a-Box Created to Insure Transport of Future COVID-19 Vaccine

Lloyd’s, the specialist insurance and reinsurance market, announced the creation and in principle approval of its newest “syndicate-in-a-box,” Syndicate 1796,* set up to insure the storage and transportation of a COVID-19 vaccine – once its developed – to emerging economies. …

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Travelers Reports Q2 Loss on Catastrophes, Investments; Only Modest COVID Impact

The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. The insurer said difference was primarily due to higher catastrophe losses, …

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Swiss Re Appoints Pasricha as Global Head P&C Solutions, Succeeding Schuh

Swiss Re announced that Pranav Pasricha, currently CEO of Intellect SEEC, has been appointed global head P&C Solutions of Swiss Re’s global Reinsurance Business Unit, effective Aug. 3, 2020. Pasricha succeeds Eric Schuh, who is leaving Swiss Re to pursue …

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Swiss Re to Report $1.1 Billion Loss During First Half on Hit from COVID-19

Reinsurance company Swiss Re said on Wednesday that claims and reserves of $2.5 billion related to COVID-19 will lead to a net first half loss of about $1.1 billion. The company, which reported the loss ahead of its regularly planned …

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Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline

Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous groups. All financial services companies are under pressure from …

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Smith to Retire from Chicago’s RT Specialty

Scott H. Smith intends to retire from Chicago-based R-T Specialty LLC (RT Specialty) at the end of the year. Smith joined R-T Specialty with the acquisition of his specialty brokerage company, S. H. Smith & Company, in September 2013. He …

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North Carolina Road Test Waived for Adult Drivers License Applicants

Road tests still aren’t being performed by examiners from the North Carolina Division of Motor Vehicles due to COVID-19. So now certain adults are exempt from passing one to obtain a regular license. The DMV announced that starting Wednesday it’ll …

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Northeast Insurer Plymouth Rock Assurance Launches Umbrella Coverage

Plymouth Rock Assurance, an auto and home insurance provider in the Northeast, has launched a new umbrella insurance product for customers across the six states in which it does business. Plymouth Rock’s new umbrella product was designed to give customers …

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Nashville Orders Restaurants to Close Earlier to Curb Virus

Nashville is barring restaurants from staying open late starting Friday in an effort to slow the spread of the coronavirus, Mayor John Cooper said Tuesday. In a virtual news conference, Cooper said an order will require restaurants, restaurants that have …

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King Appointed Chief Colleague Officer of Florida-Based BRP Group

BRP Group, Inc., an independent insurance distribution firm, has appointed Erin King as chief colleague officer. As a key member of BRP Group’s executive leadership team, King will continue to build and foster a culture focused on attracting, retaining and …

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Ohio’s Golden Eagle Insurance, Florida’s Innovative Risk Solutions Merging

Ohio-based Golden Eagle Insurance and Innovative Risk Solutions are merging to form a new company, Unitas Financial Services. The merger is expected to be completed by Jan. 1, 2021. Innovative Risk Solutions is headquartered in DeBary, Florida. Both companies are …

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Kohal Named President of Brokerage Division at Wisconsin’s ARMR Network

Middleton, Wisconsin-based American Risk Management Resources Network LLC’s brokerage division has appointed Kari Dybdahl Kohal as the organization’s next president. Kohal brings to the position a wealth of knowledge including an array of experience in business and the environmental insurance …

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Committee Recommends No Rate Hike for Texas Windstorm Insurer

The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board of directors. The Texas …

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Mendenhall Appointed President of Sleeper Sewell Insurance in Dallas

Dallas-based independent insurance agency, Sleeper Sewell Insurance, has named Myles Mendenhall as president. Mendenhall joined Sleeper Sewell Insurance in 2013. Prior to Sleeper Sewell, he served as president and was a shareholder of Planned Benefits Inc. DBA Foster Financial Group. …

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Cannabis Broker Spotlight: Parenti with PCF Loves Cannabis and Pizza

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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Four Ex-Employees Seek Class Action Status for Gender Pay Claims Against Google

Four female former employees of Alphabet Inc.’s Google are trying to persuade a state court to let them represent more than 10,000 peers in a gender-pay disparity suit against the company, setting the stage for the next big battle over …

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Half of Insurance Agencies Lack a Digital Strategy, Applied Systems Survey Finds

A little more than half (51%) of independent insurance agencies and brokerages say they have some sort of digital strategy in place, with larger firms more likely than smaller to have one. That’s according to insurance technology company Applied Systems …

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Traffic Down 25%, Motor Vehicle Fatalities Down 8% in May During Lockdowns

Preliminary estimates indicate that deaths from motor vehicle accidents fell in May but the death rate per miles driven jumped considerably. According to the National Safety Council, it was the third month in a row when there were fewer deaths …

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Vegas Casino Unions Drop MGM from COVID-10 Safety Suit

Unions representing 65,000 Las Vegas-area casino workers have dropped two MGM Resorts International properties from a lawsuit accusing companies of skimping on protective measures and putting employees at risk of illness and death during the coronavirus pandemic. Culinary Union executive …

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Candidate for Montana Auditor, Insurance Commissioner May Face Campaign Fines

A primary election contest that spilled over into the campaign finance arena has led to potential fines for the Republican state auditor candidate who won and another GOP candidate. The state’s Commissioner of Political Practice Jeff Mangan determined last week …

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Northern California Wildfire Growing, 2 Firefighters Injured

Firefighters and aircraft are working to halt the spread of two forest fires in rural northeastern California as unstable weather brought the risk of gusty winds, thunderstorms and lightning strikes that could start new blazes. The Gold Fire in northern …

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Nevada Gig Workers Should Get Stopped Benefits, Judge Rules

A Nevada judge said the state unemployment office has to begin paying pandemic relief benefits to out-of-work gig and independent workers who haven’t completely stopped working and were cut off from receiving payments. Judge Barry Breslow in Reno ruled that …

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Miner BHP Calls $6.3B English Lawsuit over Brazil Dam Collapse ‘Pointless and Wasteful’

Anglo-Australian miner BHP has dismissed as pointless and wasteful a 5 billion pound ($6.3 billion) English lawsuit by 200,000 Brazilian people and groups over the 2015 collapse of a dam that led to Brazil’s worst environmental disaster. Kicking off an …

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Magnitude 3.7 Earthquake Hits Southwest Utah

A minor earthquake struck a remote corner of Utah early Tuesday, the U.S. Geological Survey confirmed. The USGS reported that the magnitude 3.7 quake shook the desert at 3:44 a.m. local time. The epicenter was in Utah’s southwest corner, about …

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California Court Upholds Monsanto Cancer Verdict, Slashes Damages to $21.5M

A California appeals court has upheld a groundbreaking verdict that Monsanto’s widely used weed killer caused cancer in a school groundskeeper but the panel also slashed the damage award from $78.5 million to $21.5 million. The 1st District Court of …

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Coronavirus, Civil Riot, Investment Losses Take Bite Out of W.R. Berkley Q2 Profit

Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley’s 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall. Net income for the quarter reached $72.3 million The same period …

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Inconsistent Data Hinders Climate Risk Comparisons for Insurers, Banks: Regulator

Comparing how banks and insurers from different countries cope with climate change is being hampered by a lack of consistent data, the Financial Stability Board said on Wednesday. Regulators are asking financial firms to gauge “physical” and “transition” risks from …

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First Charges Filed Under New York’s Cyber Reg Involve First American Data Leak

The New York State Department of Financial Services (DFS) has filed cybersecurity charges against a title insurance provider for exposing millions of documents containing consumers’ personal information. The charges are the first to be filed under DFS’ cybersecurity regulation, Part …

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AIG Will Move to New Manhattan Headquarters in 2021

American International Group is moving its global headquarters in 2021 as part of a continued push to modernize its operations, the company disclosed on July 21. The property/casualty insurance giant will still maintain a Manhattan corporate address, which it has …

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Cyber Insurance Agency Coalition Now Offering Lloyd’s-Backed Excess Coverage for Middle Market

With new surplus lines capacity backed by Lloyd’s, cyber insurance and security company Coalition is moving beyond offering primary insurance coverage and entering the excess cyber insurance market. The San Francisco-based managing general agency (MGA) says it will now provide …

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Liberty Mutual Loses Bid to Charge Employer $1.7M for Claims Paid from Exempt Workers

A workers’ compensation insurer cannot charge an employer an extra $1.7 million in premiums for the risk presented by employees who were exempt from coverage under Iowa’s workers’ compensation law, a federal appellate court ruled Monday. The 8th Circuit Court …

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New Jersey’s BCA Insurance Group Partners with NJM Insurance Group

BCA Insurance Group has contracted with NJM Insurance Group (NJM) as an NJM Premier Agent, expanding its ability to connect the business needs of its clients with NJM’s insurance solutions. As an NJM Premier Agent, BCA can provide access to …

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BroGue Insurance & Financial Services Hires Wilbur, Kinney in Maine

BroGue Insurance & Financial Services has added to its team of insurance professionals in Bangor, Maine. Joining its staff are Licensed Sales Producer Amanda Wilbur and Sadie Kinney, Commercial Lines customer service representative. Wilbur has years of experience in customer …

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Boeing 737 Likely to Remain Grounded by FAA Until October: Reuters

The Federal Aviation Administration (FAA) said on Tuesday it plans to issue a proposed airworthiness directive for the Boeing 737 MAX in the “near future” to address changes made since the plane was grounded in March 2019 after two fatal …

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Brit’s Digital Syndicate Ki Taps Hearsum from Marsh JLT Specialty as Managing Director

Ki, the first fully digital and algorithmically driven Lloyd’s of London syndicate, launched in collaboration with Brit Ltd. and Google Cloud, has announced the appointment of Dan Hearsum as managing director. Hearsum will report into Mark Allan, CEO of Ki. …

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Chubb Promotes 2 in Leadership Changes at Westchester and Financial Lines Businesses

Global insurer Chubb announced that Scott Meyer will succeed retiring Bruce Kessler as senior vice president, Chubb Group and division president of Westchester, the company’s wholesale and excess and surplus lines insurance business. As division president of Westchester, Meyer will …

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Insurer Beazley Launches Cyber and Financial Lines Insurance in Colombia

Specialist insurer Beazley has launched a suite of cyber and financial lines insurance products to protect against the risks facing businesses and senior executives in Colombia. Beazley has tailored an information security and privacy (InfoSec) policy that protects against a …

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Excessive Floods Endanger Aging Chinese Dams and Could Cause ‘Black Swan’ Disaster

The dam at a small reservoir in China’s Guangxi region gave way last month after days of heavy rain in a collapse that could be a harbinger of sterner tests for many of the country’s 94,000 aging dams as the …

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Appeals Court Rejects Florida Hotel’s Coverage Interpretation in Suit Against Insurer

A recent opinion by the Eleventh Circuit Court of Appeals involving a case against the insurer of a Florida hotel could clarify an issue of sublimits and have a significant impact on how policies are written in the future, including …

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Missouri’s Insurance Plus Joins Valley Insurance Agency Alliance

Insurance Plus LLC, a newly formed agency based in Columbia, Mo., has joined Valley Insurance Agency Alliance (VIAA), a network more than 130 independent insurance agencies in Missouri and Illinois. Insurance Plus, which has merged with VIAA member Mulligan Insurance, …

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Pfeifer Promoted to Senior VP, Underwriting at Ohio’s Central Insurance

The Central Insurance Companies, based in Van Wert, Ohio, has promoted Jocelyn Pfeifer to senior vice president of Underwriting. Pfeifer will lead the entirety of the company’s underwriting organization including Commercial Lines Underwriting, Personal Lines Underwriting, Loss Control, and Underwriting …

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Ohio’s Wallace & Turner: Turning 150 During a Pandemic

What’s the secret of longevity for an insurance agency, or really any business, that has been in operation for 150 years and shows no sign of slowing down? “At the end of the day you take care of your clientele, …

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Workers Turn Into Sleuths to Track Sicknesses Where Employers Keep Covid Data Secret

Jana Jumpp spends eight hours a day updating a spreadsheet — not for work, but a recent hobby: figuring out how many of Amazon’s 400,000 warehouse workers have fallen sick with the coronavirus. Amazon won’t give a number, so Jumpp …

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Vegans’ Suit Over Impossible Burger Lacks Class Action Ingredients, Judge Rules

A federal judge has dismissed a lawsuit accusing Burger King of deceiving vegan, vegetarian and other customers into thinking it cooked the plant-based patties for its “Impossible Whopper” on different grills than those used to cook beef and chicken. In …

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One Killed, Three Hurt in Manhattan Scaffolding Collapse

A worker repairing the facade of a Manhattan building was killed and three others were injured on Thursday in an equipment collapse that left a metal platform dangling on its side and scaffolding buckling under, officials said. Emergency personnel responded …

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Massachusetts Sues Company Over Sale of Flavored Vapes

An online e-cigarette company continued to sell flavored tobacco products to Massachusetts consumers, and failed to protect against delivery of their products to minors, in violation of state law, state Attorney General Maura Healey said in a lawsuit. The complaint …

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New York’s ENV Insurance Agency Joins AssuredPartners

ENV Insurance Agency LLC of Liverpool, N.Y., has joined AssuredPartners Inc. The team of 26 will remain under the operational leadership of Ed Vaughn and Terry Engels. The agency currently reports $7.5 million in annualized revenues. Headquartered in Lake Mary, …

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Everest Insurance Hires DeBlasi to Retail Property Group in New York

Everest Insurance has hired Dean DeBlasi to its Retail Property group as vice president and East region manager. In this role, he will be responsible for overseeing the retail property portfolio and developing and maintaining trading partner relationships across the …

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Lawsuit Against Fox News Alleges Rape, Culture of Sexual Misconduct

Two women sued Fox News, accusing former anchor Ed Henry of rape and claiming several of the network’s biggest stars participated in a culture of sexual harassment and misconduct. Jennifer Eckhart, a former Fox News associate producer, and Cathy Areu, …

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Home Insurance Insurtech Hippo Raises $150M As It Readies for IPO in 2021

Hippo Enterprises Inc., hot on the heels of rival home insurance technology business Lemonade Inc. going public, has closed a $150 million financing round. The Palo Alto, California-based startup is valued in the investment at $1.5 billion, according to the …

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After Olympic High, Bankruptcy Low, Rulon Gardner Now Wrestles With Insurance Risks

Rulon Gardner is living a quiet life, just the way he likes it. He is 48 now, sells insurance and has a second job coaching wrestling at a Salt Lake City-area high school. It’s been 20 years since Gardner, a …

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Wirecard Hires Forensic Investigator, Say Sources. Findings Could Aid in D&O Litigation.

German payments company Wirecard has hired Alix Partners for a forensic investigation of the accounting scandal that led to its collapse, people close to the matter said. The blue-chip company filed for insolvency last month, owing creditors almost $4 billion …

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January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS

The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The figure is based on …

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UK Insurtech Startup battleface Offers COVID-19 Travel Insurance Package

Travel insurance provider battleface announced a new COVID-19 travel insurance package. The new policy will give travelers the peace of mind they have been looking for to venture out safely, including to countries currently advised against traveling to by the …

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BHSI Names Amandi from Allianz as Head of Financial Institutions in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has named Dr. Frank Amandi as head of Financial Institutions, for Executive and Professional Lines in Germany. Amandi has more than 20 years of experience spanning international insurance, underwriting, claims and product …

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Uber Braces for UK Legal Battles that Could End Its Reign in London

Uber Technologies Inc. is bracing for a long summer of legal battles that could see the end of its reign in London and entitle its drivers to a long list of workers’ rights. A dispute over whether its drivers should …

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France Weighs Insurance Options to Protect Companies, Jobs from Future Pandemics

The French government is looking at ways to shield companies from the impact of future pandemics. The goal is to protect companies and jobs from the damage that major events such as pandemics can cause, Finance Minister Bruno Le Maire …

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Florida Company Deploys Drones to Sanitize Facilities in Virus Fight

Upward Drone Solutions was only in business for a few months before the coronavirus pandemic hit and much of its work cleaning the exteriors of buildings dried up. Andy Godfrey, CEO of the Pensacola Beach-based business, said that’s when he …

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Mississippi Gov Looks to Expand COVID Restrictions to More Counties

Mississippi Gov. Tate Reeves says he is likely to extend the time for restrictions in counties with rapidly expanding cases of the new coronavirus, and he could add several other counties to the list. The current restrictions started last week …

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SAGE Program Underwriters Launches Program for Ground Delivery Contractors

SAGE Program Underwriters, a national specialty program administrator, has launched a new workers’ compensation program for the ground delivery industry. SAGE has worked with the ground delivery and transportation for more than 30 years through its retail agency partners nationwide. …

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Kentucky Supreme Court Blocks Efforts to Halt Governor’s COVID-19 Rules

Kentucky’s highest court on Friday put a temporary stop to efforts by a top Republican to rein in the Democratic governor’s ability to control the coronavirus outbreak with restrictions on public behavior. The state Supreme Court stepped into the dispute …

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Keystone Adds Kevin Brewer & Associates in North Carolina

Keystone Insurers Group (Keystone) has continued its expansion in the mid-south region through a partnership with Kevin Brewer & Associates of Charlotte, N.C. According to Jim Trotter, Keystone state vice president for North Carolina, Brewer has experience as a Nationwide …

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California Court Denies Bayer Appeal of Roundup Verdict But Reduces Damages

Bayer AG failed to persuade a California appeals court to overturn a verdict favoring a school groundskeeper who claimed its Roundup weed killer caused his cancer but reduced the amount of damages by 74% to $20.5 million. The decision by …

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Dulich Added to California Workers’ Comp Ethics Advisory Committee

California Division of Workers’ Compensation Administrative Director George Parisotto has appointed Jill A. Dulich to serve as a member of the Workers’ Compensation Ethics Advisory Committee. Dulich will fill the position of a member of the public representing self-insured employers, …

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Robots Gain as Pandemic Lockdowns, Safety Issues Cause Factories to Turn to Automation

While a resurgence in coronavirus cases in Texas has brought many businesses to a screeching halt, eight robots have kept All Axis Machining’s metal fabrication facility in Dallas humming. The small, nimble robots perform multiple jobs, such as machine-tending, sanding, …

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Bishops Should Report Sex Abuse to Police Even If Law Doesn’t Require, Says Vatican

The Vatican told bishops around the world last Thursday they should report cases of clergy sex crimes to police even when not legally bound to do so, in its latest effort to compel church leaders to protect minors from predator …

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CAC Specialty Adds Regueiro as Sr. VP, Marketing Account Exec in Houston

CAC Specialty has added Robert Regueiro as senior vice president and marketing account executive in its Financial Lines Practice in Houston. Regueiro comes to CAC Specialty with extensive industry expertise and knowledge. Prior to joining CAC Specialty, Regueiro most recently …

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Whole Foods Sued Over Disciplining Workers Wearing Black Lives Matter Face Masks

Whole Foods Market Inc. was sued on Monday by employees who accused the upscale grocery retailer of disciplining and retaliating against workers who wear “Black Lives Matter” face masks on the job, including one who said she was fired. The …

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Aviation Firm Denies Negligence in Fatal Wyoming Glider Accident

An aviation company disputes a claim it is responsible for the death of a glider passenger in response to a lawsuit filed by the family of a victim in a Wyoming crash. Teton Aviation was named in a wrongful death …

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Harassment Lawsuit Against Wynn Resorts in Vegas Dismissed

A federal judge has dismissed a lawsuit filed by nine women who alleged they were sexually harassed by former casino mogul Steve Wynn. The women, manicurists and makeup artists in a salon at the Wynn Las Vegas, were unnamed in …

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Oakland Pay $32.7M to Settle Deadly Warehouse Fire Lawsuits

Oakland will pay $32.7 million to settle lawsuits filed over a 2016 fire at an illegally converted warehouse dubbed the Ghost Ship that killed 36 people, the city announced Thursday. The City Council authorized settlements of lawsuits filed by the …

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Twitter Offers Some Details on How Hackers Accessed Data

Twitter Inc. said on Saturday that hackers were able to download account information for up to eight accounts involved in the hack of its systems this week, but said none of them were verified accounts. The company said the unidentified …

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Priate Equity Firm Thoma Bravo to Acquire Insurance Software Firm Majesco for $594M

Cloud insurance software firm Majesco said it has agreed to be acquired by Thoma Bravo, a private equity firm focused on the software and technology services sectors, in a transaction valuing the company at $594 million. Following the closing of …

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Mintz Adds Five to Insurance and Reinsurance Practice in Washington D.C., New York

Law firm Mintz has added a group of five practitioners to its Insurance and Reinsurance Practice. Deirdre G. Johnson, Paul W. Kalish, Suman Chakraborty and Ellen MacDonald Farrell joined as members, and Elaine Panagakos joined as special counsel. All five …

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Derwart Named Chief of Staff for Maryland Insurance Administration

Maryland Insurance Commissioner Kathleen A. Birrane has named Gregory M. Derwart as chief of staff for the Maryland Insurance Administration (MIA). Derwart has experience in state government. From 2015 to 2019, he was managing director of Administration & Customer Experience …

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NFL’s Washington Redskins Team Hires Law Firm to Review Harassment Claims

The Washington Redskins hired a law firm to review allegations of misconduct after 15 female ex-employees told the Washington Post they were sexually harassed. The NFL team hired D.C. lawyer Beth Wilkinson and her firm, Wilkinson Walsh, to investigate the …

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CoreLogic Says It Will Only Open Its Books If Bidders Increase Takeover Offer

Property data and analytics firm CoreLogic Inc. said on Monday it would not open its books to investment firms Senator Investment Group LP and Cannae Holdings Inc. unless they raise their $7 billion offer to buy the company. Earlier in …

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Risk of Airborne Coronavirus Adds to Challenge of Making Workspaces Safe

U.S. companies are raising new questions about how they can make workplaces safe after the world’s top public health agency acknowledged the risk that tiny airborne droplets of the novel coronavirus may contribute to its spread, industry healthcare consultants said. …

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Private Equity Firm Aquiline Closes Investment in Dutch Broker Quintes Holding

Aquiline Capital Partners, a global private investment firm specializing in financial services and technology, announced it has closed its investment in Quintes Holding, one of the largest independent insurance brokers in the Netherlands. Financial terms of the transaction were not …

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Swiss Re Appoints Bewersdorf as CEO of iptiQ, Its Digital Insurance Platform

Swiss Re announced it has appointed Carlo Bewersdorf as CEO of iptiQ, its digital platform. Bewersdorf will start in this newly created role on Oct. 1, 2020, reporting to group CEO Christian Mumenthaler. Bewersdorf’s appointment follows the announcement in June …

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Aviation Broker Piiq Risk Partners Receives License to Operate in France

Piiq Risk Partners, the global aerospace re/insurance broker, announces that it has received regulatory approval to operate in France. Piiq’s French operation will act as a base for expanding its services across the French and European markets. It reinforces Piiq’s …

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SoftBank-Backed Indian Fintech Startup Seeks IPO Valuation of More Than $3.5B

Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in …

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Coronvirus Business Interruption Claims Take Center Stage in London Court Case

A trial to decide who should pay for the rising costs associated with the coronavirus pandemic is about to start in London. The UK financial regulator took Europe’s largest insurers to court in a case that starts Monday to establish …

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China to Offer Additional Insurance, Financial Support for Flood-Hit Regions

China’s banking and insurance regulator on Saturday announced measures to further increase credit and lending support and insurance protection for areas that suffered from recent floods. The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement that financial …

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China Regulator Raises Cap on Equity Investments Made by Domestic Insurers to 45%

China’s banking and insurance regulator said it was raising the cap on how much the country’s insurers can invest in equity assets, an effort trying to bring more long-term funds into the capital market. The China Banking and Insurance Regulatory …

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Canadian Insurer Manulife Plans to Increase Diversity by 30% Within 5 Years

Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at workplaces. The Canadian insurer is …

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Crest Insurance in California Adds Vaccaro

Crest Insurance Group in San Diego, Calif. has added Hunter Vaccaro to the California branch. Hunter previously worked as a financial consultant with Whiteboard Risk & Insurance Solutions. He was a senior analyst with JTaylor before that. Crest writes insurance …

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U.S. Extends Ban on Cruise Ships Through September as Coronavirus Cases Rise

Federal health officials are extending the U.S. ban on cruise ships through the end of September as coronavirus infections rise in most U.S. states, including Florida. The Centers for Disease Control and Prevention announced Thursday that it was extending a …

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Pinnacol in Colorado Adds Golombek and Salazar to Board, Announces New Chair

Colorado workers’ comp insurer Pinnacol Assurance has added Ellen Golombek and Jesus Salazar to its board of directors, while farm and ranch representative Joseph A. Hoff will serve as board chair. Both Golombek and Salazar were appointed by Gov. Jared …

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Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch

After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from Fitch Ratings. The ongoing pandemic is “substantially affecting” …

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Starkweather & Shepley Insurance Brokerage Acquires Newport Insurance Agency

Starkweather & Shepley Insurance Brokerage Inc. (S&S) has acquired Newport Insurance Agency Inc. (NIA). Located in Middletown, R.I., with 13 associates on staff, Newport Insurance is an independent agency serving commercial and personal lines clients throughout southern New England. Newport …

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Maryland Governor Announces $501M Unemployment Insurance Fraud Case

Maryland uncovered a massive criminal enterprise involving identity theft and more than 47,500 fraudulent unemployment insurance claims in the state adding up to more than $501 million, Governor Larry Hogan said Wednesday, saying the case relates to activity in at …

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Virginia First State to Adopt COVID-19 Worker Safety Rules

Virginia officials on Wednesday passed temporary new workplace safety rules designed to protect employees from the coronavirus, becoming the first state to adopt such measures. The Virginia Safety and Health Codes Board voted to approve rules for businesses that include …

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Coronavirus Claims of Estimated €80B Are ‘Manageable’ for Europe’s Insurers: Moody’s

The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a report. Central bank intervention has reversed much of …

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Investors, Insurers Warned of Risk of U.S. Sanctions Russian Pipeline

U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and Turkey. Pompeo told a …

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Insurers Shift Real Estate Investments from Offices to Warehouses

Global insurers want to increase investments in commercial warehouses as their stakes in office space become riskier because of employees working remotely during the novel coronavirus pandemic, Goldman Sachs Asset Management (GSAM) executives said. The pandemic is hastening a shift …

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Amynta Group Acquires the Surety Operations of Aspen Insurance

Amynta Group, a provider of property/casualty and warranty protection products and services, has acquired the surety operations of Aspen Insurance. The business will now operate as Amynta Surety Solutions. As part of the transaction, Amynta said it will partner with …

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Castel Acquires Dutch Marine Business from The Hartford

Castel Underwriting Europe B.V. has agreed to acquire the renewal rights for a Navigators Europe book of predominantly of Dutch marine cargo, inland hull, land-based equipment and liability business from The Hartford. Navigators Europe is the trading name of the …

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London Market Group Launches Template for Free Trade in Financial Services

The London Market Group (LMG) launched a paper outlining an ambitious approach to free trade in financial services, using the forthcoming UK-Switzerland trade discussions as a template for an approach to other third countries. The LMG is asking the government …

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Billion-Dollar Hailstorm Event in June Is One of Canada’s Costliest Thunderstorm-Related Events: Aon

Canada saw powerful a series of powerful thunderstorms in June, which brought hail greater than the size of tennis balls and caused extensive damage and flooding throughout the greater Calgary metro region, said Aon in its monthly Global Catastrophe Recap …

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Houston Firm to Pay $35K to Settle Disability Discrimination Lawsuit

Houston-based Brock Services LLC, part of the Brock Group, will pay $35,000 to settle a disability discrimination lawsuit, federal officials say. In its lawsuit, the U.S Equal Employment Opportunity Commission (EEOC) alleged Brock Services forced an employee to take three …

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Berkshire Hathaway GUARD Adds Missouri, Washington, Wisconsin for Homeowners Coverage

Berkshire Hathaway GUARD Insurance Companies has added Missouri, Washington and Wisconsin to the list of states where the insurer offers its homeowners insurance product. With the expansion to the three new states, the company offers personal lines products in 15 …

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A Look at the 32% of Businesses Located in Hurricane-Vulnerable Counties

As the 2020 hurricane season gets underway, emergency officials pay attention to the growing share (29%) of the U.S. population in the nation’s 255 coastline counties. They’re also looking at ways to minimize the impact of a hurricane on coastline …

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Berkley Crime Names Platt Assistant Vice President/Underwriter for West

Berkley Crime, a division of Berkley FinSecure, a Berkley Co., has named Brian Platt assistant vice president-Underwriter. Platt will be focused on developing stand-alone fidelity/crime business across a spectrum of businesses within the West region. He will be based in …

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Crest Insurance in California Names Jacquelin Head of Ocean Marine

Crest Insurance Group in San Diego, Calif. has named P.J. Jacquelin II to oversee its ocean marine practice. Jacquelin has more than 20 years of experience in insurance and risk management. After graduating from the California Maritime Academy, he was …

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GOP’s Proposal Would Limit Coronavirus Liability Claims Against Businesses, Schools, Caregivers

Senate Majority Leader Mitch McConnell wants to give federal courts jurisdiction over liability claims arising from coronavirus infections to limit the legal exposure of businesses, schools and other organizations as they reopen, according to a summary of legislation he plans …

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West Virginia Sued Over Non-Compliance of Coal Reclamation Fund

Environmental groups have sued the West Virginia Department of Environmental Protection over what they say is the agency’s failure to adhere to federal reporting requirements for a coal mine reclamation fund. The lawsuit filed Thursday by the West Virginia Highlands …

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Florida Official Pleads Guilty in $5M Hurricane Fraud Scheme

A Florida city official pleaded guilty Tuesday to his role in a scheme to bilk the federal government out of $5 million in Hurricane Michael cleanup money, the U.S. attorney’s office announced. Former Lynn Haven community services director David Wayne …

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North Carolina’s Outer Banks Island Ravaged by Storms, Virus Restrictions

When Hurricane Dorian pounded the wisp of earth that is Ocracoke Island, a wall of Atlantic seawater flooded Bob Chestnut’s home, surf shop and four vehicles. Seven months later, his shop was ready for business. But the coronavirus pandemic kept …

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Risk Placement Services Enhances Crisis Management Service for Businesses

Risk Placement Services, Inc., has enhanced its Crisis Protect product for clients, in response to the evolving risk landscape. In partnership with R3 Continuum, a U.S. crisis consulting firm, the Crisis Protect product now gives clients access to additional professional …

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