Florida Borrows $2.25B for Hurricane Fund While Rates Are Low

With hurricane season barreling down on Florida, the state is seizing on low interest rates to borrow $2.25 billion for its catastrophe insurance fund. The State Board of Administration Finance Corp. is joining state and local governments that have rushed …

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Brazilian Reinsurer IRB Still Faces Liquidty Gap, Says CEO

Brazil’s largest reinsurer, IRB Brasil Resseguros SA, has concluded a 2.3 billion reais ($420 million) capital increase to address liquidity issues, but has not yet fully met regulatory requirements, its interim chief executive said on Monday. Antônio Cássio dos Santos …

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California Launches Remote Insurance Licensing Exams

The California Department of Insurance has launched remote testing for license examinations, designed to provide more flexibility and opportunities to thousands of insurance license candidates in light of existing COVID-19 social distancing requirements and local public health orders. T The …

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North Korean Hackers Targeting Banks Around the Globe

North Korean hackers are tapping into banks around the globe to make fraudulent money transfers and cause ATMs to spit out cash, the U.S. government warned on Wednesday. A technical cybersecurity alert jointly written by four different federal agencies, including …

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China Reinsurance Group’s Premiums Rise 20% in First Half

In the first half of 2020, China Re Group Corp. enjoyed rapid growth in premiums and steady profitability despite the pandemic. In the first half of 2020, gross written premiums increased 20.5% year-on-year to RMB102.1 billion. Gross written premiums by …

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Employers Must Pay Employees for All Hours Worked, Including Work at Home

The U.S. Labor Department is reminding employers that they must make a reasonable effort to keep track of all hours worked by non-exempt employees — even those working varied hours from home due to the COVID-19 pandemic. The department’s Wage …

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Cat Risk Modelers Air Worldwide, KCC Release Laura Insured Loss Estimates

Estimates for insured property losses associated with Hurricane Laura by catastrophe risk modeling firms Air Worldwide and Karen Clark and Co. (KCC) are similar — both fall into the $8 billion range — but they are not exactly the same. …

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Drones Help Insurance Companies Check Windstorm Damage in Iowa

Insurance adjusters who descended on Cedar Rapids, Iowa, after the Aug. 10 derecho storm are using drones to check roofs and asking homeowners with less severe damage to take their own photos. Some of this is due to the COVID-19 …

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In Anthem-Cigna Failed Merger ‘Soap Opera,’ Judge Hands Damages to Neither

A Delaware judge rebuffed efforts by both Cigna Corp. and Anthem Inc. to collect billions over their failed merger, saying Cigna had breached its obligations but the merger was likely to have been blocked on antitrust grounds anyway. Cigna, which …

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Insurer Overcomes California Restaurant’s COVID-19 Business Loss Claim

A federal court in California has dismissed a lawsuit filed by a Los Angeles restaurant seeking business interruption losses from Travelers Indemnity due to coronavirus-related restrictions on its business. Judge Stephen Wilson of the U.S. District Court for Central California …

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Damages Awarded to Colorado Woman Under New ‘Revenge Porn’ Law

A Denver, Colo., judge awarded $40,000 to a woman after a man she dated sent a sexually-explicit video of her to her estranged husband. The woman’s attorney says it is the first trial victory under Colorado’s “revenge porn” law. The …

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Family of Man Who Died in Custody in Washington Announces $30M Suit

The family of a Black man who died in Tacoma, Wash. police custody announced they plan to sue the police department for $30 million for his death. Seattle lawyer James Bible, who represents Manuel Ellis’ family in the legal action, …

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California Chicken Plant Shutting Down Due to Virus Outbreak

A chicken processing plant in central California has been ordered to shut down after it became the site of one of the largest and most severe COVID-19 outbreaks in the state, health officials said. The order to close the Foster …

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For 60% of Mid-Sized Businesses, Crisis Management Is Key Unmet Need

Nearly 60 percent of mid-sized businesses said crisis management remains a top unmet need in terms of reducing risk exposure. At the same time, a little over a third said they’re concerned about rising insurance rates, according to a new …

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McDonald’s Alleges Ex-CEO Duped Directors, Seeks to Claw Back $37 Million Severance

McDonald’s Corp. told a judge that ex-CEO Steve Easterbrook lied about four alleged sexual relationships with subordinates to dupe directors into letting him leave with stock awards as part of his severance. The fast food company, which is seeking to …

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Commuter Bus Slams Divider at NYC Terminal, 16 People Hurt

A commuter bus slammed into a divider at New York City’s main bus terminal on Saturday, injuring 16 people – one critically, the fire department said. The New Jersey Transit bus crashed around 9:30 a.m. on an upper ramp at …

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United Arab Emirates Ends Boycott, Opening Commerce With Israel

DUBAI, United Arab Emirates —The ruler of the United Arab Emirates issued a decree Saturday formally ending the country’s boycott of Israel amid a U.S.-brokered deal to normalize relations between the two countries. The announcement now allows trade and commerce …

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Roundup of New England COVID-19 Developments

Public health officials in Vermont said the state is considering becoming the second state to mandate flu shots as a way to ease the burden of influenza amid the coronavirus pandemic. Vermont Health Commissioner Mark Levine said Friday the rate …

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World Insurance Associates Acquires New Jersey’s Maximum Benefit Insurance Agency

World Insurance Associates LLC (WIA) acquired Maximum Benefit Insurance Agency Inc. of Saddle Brook, N.J., on August 1, 2020. Terms of the transaction were not disclosed. Founded in 1994, Maximum Benefit Insurance Agency Inc. is a property and casualty full-service …

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Check Up: The Post-Pandemic Future of the Current Telehealth Sensation

Telehealth is a bit of American ingenuity that seems to have paid off in the coronavirus pandemic. Medicare temporarily waived restrictions predating the smartphone era and now there’s a push to make telemedicine widely available in the future. Consultations via …

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Pandemic Shows Why Climate Change Is Major Economic Risk, Says Europe’s Schnabel

The coronavirus pandemic demonstrates in the clearest terms why central banks must take a bigger role in fighting climate change even if the issue at first appears unrelated to monetary policy, European Central Bank board member Isabel Schnabel said. Initially …

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Total Return Reinsurers Underperform Traditional Bermuda Reinsurers: AM Best

Although total return reinsurers, which like to take more risk on the investment side of their balance sheets than other reinsurers, have the potential to generate significantly higher investment returns than traditional reinsurers, AM Best says the results of those …

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Insured Loss for UK’s February Floods Estimated at £375 Million

The updated estimate of the insured property market loss for floods that hit February 9 to 29, 2020, across the United Kingdom is £375 million. PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, said it based its estimate …

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Safety Agency Offers App for Alerts on Vehicle Recalls

The U.S. government’s road safety agency is offering a smartphone app that will alert drivers if their vehicles are recalled. The National Highway Traffic Safety Administration was scheduled to roll out the free app for both Android and Apple phones …

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Britain Eyes Fast-Tracking Coronavirus Vaccines That Pass Safety, Quality Tests

Britain’s medical regulator will be able to grant temporary authorisation for any coronavirus vaccine that meets safety and quality standards but before it has received a full license, under new plans set out on Friday. The government said that under …

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Tennessee Gov. Extends Covid-19 State of Emergency

Tennessee Gov. Bill Lee has once again extended the state of emergency until the end of September. Lee, a Republican, initially imposed the state of emergency on March 12 in order to free up funding and relax rules regarding the …

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Sidewalk Collapse in Florida Kills Worker, Injures 3 Firefighters

A county worker was killed and three firefighters were injured after a sidewalk in a Florida suburb collapsed on Friday. The Seminole County Fire Department tweeted that firefighters responded to a report of a trapped person in Lake Mary. Officials …

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Uber Vows Better Disclosure of Safety Data on Self-Driving Cars

Uber Technologies Inc. vowed to make public more safety information regarding its self-driving cars after the National Transportation Safety Board placed partial blame for a fatal 2018 crash on the company’s policies. The company made the pledge in an update …

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Judge Allows Palin Defamation Suit Against New York Times

A federal judge on Friday rejected the New York Times’ bid to dismiss Sarah Palin’s defamation lawsuit over a 2017 editorial she said falsely linked her to a mass shooting. U.S. District Judge Jed Rakoff in Manhattan said that while …

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Fire at Hurricane-Hit Louisiana Chemical Plant Contained

A chlorine chemical fire that erupted last Thursday, triggering shelter-in-place orders and closing roadways in the aftermath of Hurricane Laura, has been brought under control, the plant’s owner said on Friday. KIK Custom Products said the site is secured and …

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CoreLogic Estimates Hurricane Laura Insured Losses at $8B to $12B

Property information, analytics and data provider, CoreLogic, has estimated residential and commercial insured losses from Hurricane Laura in Louisiana and Texas will come in at between $8 billion and $12 billion. That estimate includes losses from storm surge and wind, …

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UCLA Suing Under Armour, Seeking Damages in Excess Of $200 Million

UCLA filed a lawsuit against Under Armour this week in U.S. District Court in Los Angeles for breach of contract, seeking damages in excess of $200 million.. Under Armour announced in late June that it was ending its deal with …

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Why Damage from Hurricanes Keeps Rising

A destructive storm rising from warm waters. Again. America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura, which menaced the U.S. Gulf Coast, because of a combination of increased coastal development, natural …

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New Zealand’s Stock Exchange Resumes Trading After Cyber Attacks

New Zealand’s stock exchange resumed trading on Friday, after facing disruptions for four consecutive days in the wake of cyber attacks this week, while the government said national security systems had been activated to support the bourse. There is no …

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Post-Covid Cold War World Will Be Tough for China’s Ant: Opionion

Ensconced in a lucrative niche at home, Jack Ma’s Ant Group nevertheless has to look outward. And expanding overseas has never looked so difficult for China’s biggest payments app, even with the war chest from what may be a world-record …

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Revel Brings Electric Moped Sharing Back to New York City; Helmets Required

Electric moped sharing company Revel on Thursday said it was returning to the streets of New York City with a new safety protocol, a month after it voluntarily suspended operations in the city following a string of deadly crashes. Revel …

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FBI Thwarts Cyber Attack on Tesla Factory

Elon Musk said on Thursday that Tesla Inc.’s factory in Nevada was a target of a “serious” cybersecurity attack, confirming a media report that claimed an employee of the company helped the Federal Bureau of Investigation (FBI) thwart the attack. …

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UK Supreme Court Denies Patent Appeals by Huawei and ZTE Over Mobile Technology

The United Kingdom’s Supreme Court on Wednesday unanimously dismissed appeals by China’s Huawei and ZTE in patent disputes over mobile data technology with Unwired Planet International and Conversant Wireless. The first appeal concerned an action brought by Unwired against Huawei …

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Black Farmers Sue to Force Roundup Weedkiller Ban or Product Warnings

A group of Black U.S. farmers filed a federal lawsuit on Wednesday, seeking to force Bayer AG to either stop selling its widely used weedkiller Roundup or roll out new product warnings. The National Black Farmers Association’s filing is the …

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NTSB Finds Limo Owner Evaded Safety Rules Before Fatal New York Crash

The owner of the stretched limousine that crashed and killed 20 people in upstate New York repeatedly changed the listed number of seats in the vehicle and took other steps to avoid safety regulations, according to documents released Wednesday by …

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Exotic Dancer Involved in 2010 Crash Gets $8.6M from Insurer

A former exotic dancer seriously injured in a 2010 car crash with an off-duty Massachusetts police officer has been paid about $8.6 million by the insurance company for the strip club, according to court records. Kailee Higgins was paid by …

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Insured Pandemic Losses ‘Manageable’ as Earnings’ Event, Not a Capital Event

While COVID-19 losses are large and significant for the insurance sector, they are an earnings’ event, rather than a capital event, according to report issued by Hyperion X, the data and analytics division of Hyperion Insurance Group. In its second …

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Software Firms, MGA Systems and NetRate, Merge

Two technology providers for managing general agency marketplace are merging their products and firms. MGA Systems Inc., a provider of software for MGAs and excess and surplus brokers, said it has executed a merger with NetRate Systems Inc., a commercial …

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Bayer’s $11 Billion Roundup Settlement Hits Some ‘Bumps’

German drug company Bayer AG said on Thursday there were “bumps” in sealing its $11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer after a U.S. judge cast doubt on the progress of the agreement. Bayer …

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How to Build an Insurance or Any Business with Community at the Center

It’s a common corporate practice to use philanthropic pursuits to improve both their communities and public images. Some organizations donate both funding and manpower through formal philanthropy programs. Others choose to give regularly to selected charities. But for Pamela Davis, …

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Analytics Helping Insurers Identify Workers’ Compensation ‘Mega’ Claims More Quickly

The share of “mega” workers’ compensation claims — those expected to cost $3 million or more — climbed steadily since 2013 after dropping as construction employment declined sharply during the Great Recession, according to a report by the National Council …

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CFC to Expands Coverage to FinTechs with Package Policy

CFC, a specialist insurance provider of emerging risks, has expanded its suite of products for financial institutions with the launch of a new product built specifically to cover the risks faced by organizations operating in the fintech space. According to …

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North Carolina Fines Gerber Life Insurance Co. $1.1 million for Claims Violations

The North Carolina Department of Insurance has entered into a voluntary settlement agreement with Gerber Life Insurance Company that includes a $1.1 million penalty for numerous violations related to its claims practices for accidental death and dismemberment policies, according to …

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North Carolina Insurance Donor to Appeal Conviction, Accuses Commissioner of Perjury

An insurance company founder and big political donor heading to prison after being convicted of attempting to bribe North Carolina’s top elected regulator of the industry remains confident he’ll get a new trial or overturned conviction. In a letter sent …

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FBI Recovers $3M in Stolen Ventilators in South Florida

A $3 million shipment of ventilators stolen that was stolen earlier this month was recovered in South Florida, the FBI said in a news release. The agency said the ventilators were being prepared for shipment to El Salvador by the …

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North Dakota High Court: Dem Insurance Commissioner Candidate Ineligible

The North Dakota Supreme Court has ruled that the Democratic nominee for insurance commissioner is ineligible for the November ballot. In a unanimous opinion, the high court upheld a lower court ruling that concluded Travisia Martin hasn’t lived in the …

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World Insurance Associates Acquires Kansas’ Peoples Insurance Group

World Insurance Associates LLC (WIA) has acquired Peoples/Commercial Insurance Services LLC (d/b/a Peoples Insurance Group) in Topeka, Kansas. The transaction, the terms of which were not disclosed, was effective Aug. 1. Peoples Insurance Group, founded in 1917, is the largest …

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Damage from Whopper Hurricanes Increasing for Many Reasons

America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura because of a combination of increased coastal development, natural climate cycles, reductions in air pollution and man-made climate change, experts say. The list …

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Arkansas Sees Near-Record Increase in COVID-19 Deaths

Arkansas on Wednesday reported its second-highest one-day increase in COVID-19 deaths so far and 649 new confirmed cases of the coronavirus that causes the illness. The Department of Health said the 21 new deaths bring the state’s death toll to …

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California Residents with Hoses Target Fires as Crews Urge Them to Stop

California residents have organized to put out flames themselves in a large swath of land burning south of San Francisco, defending their homes despite orders to evacuate and pleas by officials to get out of danger. They are going in …

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UK Broker Ed Hires Paragon’s Head as Professional, Cyber Lines Producer

London-based brokerage Ed announced the appointment of John Head as a broker and producer. Head will support the growth of the professional and executive risk portfolio, a key area of focus and development for Ed, and also represent the firm’s …

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European Union Safety Agency to Start 737 MAX Flight Tests

The European Union Aviation Safety Agency (EASA) said on Thursday it plans to begin flight tests of U.S. planemaker Boeing Co.’s 737 MAX plane in Vancouver, Canada, in the week starting Sept. 7. The test flights will start more than …

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Where ‘DeFi’ Crypto Users See Sure Bets During COVID, Critics See Unregulated Risks

It sounds like a surefire bet. You lend money to a borrower who puts up collateral that exceeds the size of the loan, and then you earn interest of about 20%. What could possibly go wrong? That’s the proposition presented …

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Global Reinsurers’ Coronavirus Claims Jumped in Q2: Moody’s

During the second half of 2020, global reinsurers reported anemic earnings amid an increase in coronavirus claims, although investment returns rebounded, Moody’s Investors Service reported. A bright spot was strong pricing momentum and capital levels remains healthy, but a high …

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New Jersey Driver Accused of Texting Gets Prison in Pedestrian’s Death

A New Jersey woman has been sentenced to five years in prison in the death of a pedestrian that prosecutors said occurred as the driver was texting – an accusation the defendant denied on the stand. Alexandra Mansonet, 51, of …

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Virginia Man Pleads Guilty to $1M Virus Fraud Scheme

A northern Virginia man has pleaded guilty to a $1.4 million fraud scheme to obtain federal funds meant for businesses struggling under the coronavirus pandemic. Tarik Jaafar, 42, of Woodbridge, admitted in U.S. District Court in Alexandria that he created …

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UConn Receives $768K for Study of Crumbling Foundations

The federal government has awarded the University of Connecticut $768,000 to fund ongoing research into the problem of crumbling home foundations in eastern Connecticut. The goal of the research is to better understand of the scope of the crisis and …

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4 of 5 Workers Remain Working from Home in UK Cities

Only 17% of workers in British cities had returned to their workplaces by early August, underscoring the challenge for Prime Minister Boris Johnson to steer the country away from its coronavirus shutdown, data published on Thursday showed. The Centre for …

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Teens and Seniors More Likely to Drive Less Safe Cars

Teen drivers and drivers 65 years and older – two age groups at a higher risk of being involved in an automobile accident – are more likely to be driving vehicles that are less safe, putting them at even higher …

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Is Your Agency a Best Agency to Work For? Nominate Now

Do you love your agency? Is your agency a Best Place to Work? Then don’t wait – nominate your agency today as a “Best Agency to Work For” in 2020. You must be a current employee of the agency you …

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Arizona’s Resecō Group Adds Gard as Senior Advisor

Jason Gard has joined Reseco Insurance Advisors LLC, a partner with United Benefit Advisors (UBA) and Insurance Agency Network (ISU), as senior advisor. Gard brings 25 years of expertise in the insurance industry, specializing in employee benefits. He will be …

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A.M. Best Warns of Effects of Hurricane Laura Losses on P/C Insurers

Ratings analysts at A.M. Best expect losses from Hurricane Laura to stress their rated insurance companies’ balance sheets, which they add have already been weakened by the COVID-19 pandemic. While reinsurance may help mitigate losses, the losses from the hurricane …

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EU Officials Erase Brexit from Meeting Agenda Citing Lack of Progress in Talks with Britain

A discussion about the negotiations over Britain and the European Union’s post-Brexit relationship has been dropped from the agenda of a meeting of EU envoys next week because the talks have stalled, an EU diplomat said on Wednesday. Earlier, the …

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Employers Face Increase In COVID-19 Wrongful Death Lawsuits

As COVID-19 cases and deaths continue to rise, so too does the number of lawsuits filed against employers. Recently, an increasing number of families of employees who died from COVID-19 have asserted wrongful death actions against employers for failing to …

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P/C Insurance First-Half Underwriting, Net Income Drops Tied to COVID

U.S. property/casualty insurance underwriting income dropped 5.5 percent in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are to blame, according to an A.M. Best report. …

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Worker Killed Working on Outer Banks Bridge in North Carolina

A person has died while working on a new bridge on North Carolina’s Outer Banks. The Virginian-Pilot reports that the fatal injury occurred on Monday. The bridge is going up over the Pamlico Sound in Rodanthe. Tim Hass, spokesman for …

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University of Alabama Reports More than 500 COVID Cases, City Closes Bars

The University of Alabama has recorded 531 cases of COVID-19 on campus since the fall semester began last week, according to numbers the university system released Tuesday as officials try to clamp down on student parties, bars and other gatherings …

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As FAIA Chief Grady Says Goodbye, He Shares His Top 10 Moments

For 22 years, the Florida Association of Insurance Agents has been led by Jeff Grady, president and chief executive officer, who admits that when he started all those years ago he did not expect to “fall in love with insurance …

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Summer Camp Hosted 1,000 Visitors While Successfully Managing Coronavirus

Four overnight camps in Maine successfully stemmed the spread of the novel coronavirus and conducted sessions with over 1,000 attendees from 41 states and international locations this summer, according to a new report published on Wednesday. The findings in the …

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Hurricane Laura Threatens ‘Unsurvivable Storm Surge’; 620,000 Ordered to Evacuate

PORT ARTHUR, Texas, Aug 26 – Hurricane Laura barreled toward the Gulf Coast on Wednesday as a massive Category 4 storm that was strengthening and forecast to cause catastrophic damage and “unsurvivable storm surge” along the Texas and Louisiana border, …

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California Commissioner Issues Emergency Notice to Expedite Wildfire Claims

California Insurance Commissioner Ricardo Lara on Wednesday issued an emergency notice to all property/casualty insurance companies doing business in California, requesting they expedite claims handling for California wildfire survivors in order to help them begin the recovery and rebuilding process …

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California Workers’ Comp Bureau Submits Premium Rate Filing

The Workers’ Compensation Insurance Rating Bureau of California has submitted its Jan. 1, 2021 pure premium rate filing to the California Department of Insurance, proposing advisory pure premium rates that are on average 2.6% above the average approved Jan. 1, …

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Risk Strategies Acquires Ohio’s McCamon Hunt Insurance Agency

Risk Strategies, a privately held national insurance brokerage and risk management firm, has acquired Boardman, Ohio-based, McCamon Hunt Insurance Agency Inc. Terms of the deal were not disclosed. McCamon Hunt adds to Risk Strategies’ existing footprint in Ohio. Founded in …

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Wells Fargo to Pay $7.8 Million to Workers to Settle Hiring Discrimination Charges

Wells Fargo Bank has agreed to pay $7.8 million in back wages and interest to resolve allegations of hiring discrimination. The U.S. Department of Labor’s said it has entered into an agreement with the financial institution over charges that Wells …

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Hurricane Laura Expected to Be Category 4 When It Hits Texas, Louisiana

Wed., Aug 26, 09:29 AM —Hurricane Laura was expected to rapidly strengthen to a Category 4 hurricane on Wednesday on a steady track to hit the Texas-Louisiana Gulf Coast after dark, causing catastrophic damage, the National Hurricane Center said. The …

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Accredited Enters New Program Underwriting Partnership with Surround Insurance

Accredited Surety & Casualty Company Inc., a wholly owned subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q) and a Florida-domiciled insurance company licensed in all 50 states to write admitted business, has entered into a new program partnership with …

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Public Confidence, Often Inscrutable, Now Pivotal for Recovery: Viewpoint

Public confidence in virus control, rather than the length and stringency of government lockdowns, may be the best way to gauge how economies emerge from this year’s pandemic – though tracking that confidence can be a bewildering business. Apparent gaps …

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Virginia’s Markel Corporation Appoints Chu as Chief Risk Officer

Markel Corporation has appointed Julia Chu as chief risk officer, effective immediately. In this new role, Chu will be responsible for Markel’s enterprise risk management, capital planning and ceded reinsurance placements. Each of these functions serve a critical role in …

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Widower Files Suit Over Woman’s Death from Falling Debris in Manhattan

A widower whose wife died when she was hit by falling debris on a Manhattan street filed a lawsuit against the building’s owner and the city, claiming negligence and wrongful death. The civil suit from Steven Tishman in connection to …

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Coronavirus Erodes Countries’ Economic Resilience; Global Insurance Gaps Widen

The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same time, the combined global protection gap for …

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Natural Catastrophe Claims Cost Insurers More Than Coronavirus in First Half: Fitch

COVID-19-related claims were not the biggest driver of the North American property/casualty insurance industry’s overall combined ratio during the first six months of 2020. Natural catastrophes cost insurers more, Fitch Ratings concluded in its latest report. Pandemic-related claims increased the …

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Limited Liability Protection for Drugmakers Hampers EU Coronavirus Vaccine Deals

The European Union is offering only partial protection to vaccine makers against legal risks from side-effects of their potential COVID-19 shots, European officials said, in a move that is hampering deals and contrasts with U.S. policy. With vaccines being developed …

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Miami Dolphins Face Criticism Over Plan to Host 13K Fans at Home Opener

The Miami Dolphins will allow up to 13,000 socially distancing fans to attend their home opener against Buffalo on Sept. 20, a decision that divided political leaders and upset Bills coach Sean McDermott. The same plan will be followed for …

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5 Firefighters Injured in South Carolina Industrial Plant Fire

Five firefighters were injured while battling a large fire at a South Carolina industrial plant. News outlets report that the fire began before dawn Monday at the Carolina Poly plant in Chester County. The plant is located along state Route …

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New COVID Clusters Appear at One North Carolina University

East Carolina University reported new COVID-19 clusters at two more dormitories on Monday, two days before the school transitions to online instructions. The school issued an alert saying six positive cases had been reported each at Jones Hall and White …

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Ziegler Joins CopperPoint Insurance as Senior VP, Operations

CopperPoint Insurance Companies, a super regional commercial insurance company based in Phoenix, Ariz., has hired Kathleen Ziegler in a newly created role as senior vice president, Operations. Ziegler will be responsible for overseeing business operations, procedures and efficiency to support …

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Former Washington State Student Sues School District Over Mass Shooting

A former student at a high school in Washington state who survived a school shooting is suing the district for what she claims was a preventable attack. The mass shooting killed four students and the gunman in 2014. Carmen Lopez, …

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Johnson & Johnson to Acquire Assets of Georgia-Based National Program Management

Johnson & Johnson will expand its presence in Georgia by acquiring the assets of National Program Management (NPM) located in Alpharetta. The parties expect the transaction to close Sept. 1, 2020. National Program Management’s origins date back to the mid-1980s …

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U.S. to Fine Nursing Homes That Fail to Meet Testing Mandate

Nursing homes in the United States will now be required to test staff for COVID-19 and offer testing to residents, the Centers for Medicare & Medicaid Services (CMS) said on Tuesday. The new rules also mandate nursing homes to share …

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U.S. Charges Teva With Conspiring to Fix Generic Drugs Prices

The U.S. Justice Department charged Teva Pharmaceutical Industries Ltd. on Tuesday with conspiring with competitors to raise prices for generic drugs. The Justice Department has been investigating allegations the company colluded with other drugmakers to push up the prices of …

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MS Amlin Names Everest Re’s Carrier as Chief Underwriting Officer as 3 Step Down

MS Amlin Underwriting Limited, the Lloyd’s (re)insurer, has appointed Andrew Carrier to the new position of chief underwriting officer. Carrier will be responsible for managing all of MS AUL’s underwriting business, including the syndicate’s Reinsurance and Specialty Insurance divisions. He …

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Honda to Pay $85 Million to States Over Defective Takata Air Bags Claims

Units of Honda Motor Co. have agreed to pay $85 million to settle an investigation by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday. The …

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Crest Insurance in Arizona Names Benedetto Senior Vice President

Crest Insurance Group of Scottsdale, Ariz., has named Frank Benedetto a senior vice president of the employee benefits division. Benedetto has more than 30 years of experience. He held numerous positions in the healthcare industry, including as executive director of …

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Carnival Cancels 2 Early 2021 Princess Cruises Over COVID-19 Restrictions

Carnival Corp.’s Princess Cruises said on Monday it would cancel early 2021 cruises on two ships, citing travel, border and port restrictions due to the COVID-19 pandemic. Cruise lines, hammered by a crisis that has seen some ships turn into …

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Hurricane Laura’s Timing, Direction Bring Harvey, Katrina to Mind

Tropical Storm Laura morphed into a hurricane on Aug. 25, 2020 — three years to the day after Hurricane Harvey swept ashore on the Texas Gulf Coast and is expected to make landfall just days before the 15-year anniversary of …

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Hurricane Laura Expected to Slam Energy Coast; On Track for $5-12B in Losses

Hurricane Laura is poised to strengthen rapidly and come ashore along the Texas-Louisiana coast as a tree-snapping Category 3 storm, forcing residents to flee their homes despite the threat of Covid-19. Laura’s winds will likely peak at 115 miles (185 …

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Texas Cities Issue Mandatory Evacuation Orders as Hurricane Laura Advances

The mayor of Galveston, Texas, has called for a mandatory evacuation of the city after Tropical Storm Laura strengthened into a hurricane and its path shifted westward, increasing the chances that it could strike the Houston area. Galveston residents have …

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Coronavirus Pandemic Makes Politically Risky World Even Riskier

The global COVID-19 pandemic has exacerbated an “already volatile political risk landscape” with most countries recording elevated political risk. According to a midyear update to insurance broker Marsh JLT Specialty’s Political Risk Map 2020, all 197 countries rated for the …

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Alphabet’s Verily to Launch Insurer Focused on Employer Medical Stop Loss Market

San Francisco-based Verily, an Alphabet company, is creating a subsidiary, Coefficient Insurance Co., to compete in the medical stop loss market. The new business will be backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re …

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Lloyd’s Gets to Keep $3 Million Because FDIC Waited Too Long to Collect

Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action …

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Taiwan Claims Alibaba-Linked Site Is Cyber Security Risk

Taiwan declared an e-commerce platform linked to China’s Alibaba Group a potential security risk and has told its operator to register as a company from the rival mainland or dispose of its ownership stake. The order adds to mounting pressure …

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Storm Damages New Hampshire Cottages, Creates Waterspout Over Lake

A strong storm damaged vacation cottages on New Hampshire’s Lake Winnipesaukee Saturday. The fast-moving system brought strong winds and heavy rain and created a waterspout over the lake. WMUR-TV reports that at Clearwater Lodges in Wolfeboro, two cottages were destroyed …

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Maryland County Washing Away, Residents Face Hard Choices

High tides surging from a narrow creek destroyed the car Kathy Blake once parked in her gravel driveway here. Over the past two decades, the water has ruined half a dozen of them. Since October, when one of those floods …

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Conn. Offers Coverage Guidance Due to Power Outages After Tropical Storm Isaias

In the aftermath of Tropical Storm Isaias, Connecticut Governor Ned Lamont and Insurance Commissioner Andrew N. Mais are reminding policyholders to review their homeowners insurance policies to understand their coverage for property damage due to loss of power as the …

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Lloyd’s Appoints Canal’s Bond as U.S. Head of Claims

Lloyd’s of London has named Carey Bond as U.S. head of Claims, a newly created role that stems from the Future at Lloyd’s strategy. Based in Greenville, South Carolina, he’ll be responsible for overseeing U.S. claims processing across the Lloyd’s …

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Insurance Run-Off Specialist Marco Capital Acquires British Reserve from Allianz

Newly-launched insurance run-off specialist Marco Capital Holdings said it has agreed to purchase British Reserve Insurance Co. Ltd., a UK non-life insurance company, from Allianz. The transaction, Marco’s first, is subject to regulatory approval. Marco said the transaction provides the …

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Sierra Leone Residents’ Damages Suit Against Miner Is Part of Activist Trend

FREETOWN – At the foot of a slag heap some 40 meters high, Adi Kalie Bangura showed the black welts that dot his arms and legs that he says are the result of drinking and bathing in water contaminated by …

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Judge Dismisses Shareholder Lawsuit Against Danske Bank and Officers

A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni …

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Alibaba’s Ant Group Files for Dual Listing; Could Be World’s Largest IPO Ever

Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, filed for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR Market on Tuesday and could raise as much as $30 billion in what would be the …

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2 Washington State Agribusinesses Settle Federal Discrimination Suit for $325K

Two agribusinesses in Washington state will distribute $325,000 among 105 Thai farm workers to settle a federal national origin and race discrimination lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) said the settlement with defendants Green Acre Farms Inc. and …

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Tanner Tapped to Lead Hylant’s Family Office Practice in Beverly Hills

Toledo, Ohio-based insurance services firm, Hylant, has added personal insurance veteran, Paul Tanner, to lead its Family Office Practice in Beverly Hills, Calif. The addition of Tanner represents Hylant’s expansion to California. Tanner is a Certified Advisor of Personal Insurance …

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Mortenson Joins Pinnacle Actuarial Resources in Denver Area

Property/casualty insurance consulting firm, Pinnacle Actuarial Resources Inc. (Pinnacle), has added Erick Mortenson as a consulting actuary in the Denver area. Mortenson joins Pinnacle after a tenure at Willis Towers Watson, where he was a senior vice president focused on …

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Georgia Dept. of Public Safety Claims Police Wrote Tickets Outside Jurisdiction

A small Georgia city’s police department wrote more than 130 speeding tickets on a road where it had no jurisdiction, a state agency’s investigation found. Citations issued on Kildare Road over a two year period by police in the city …

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11 Charged in Louisiana Staged Truck Crash Insurance Fraud Scheme

Eleven people have been in indicted in what law enforcement officials say is an expanding probe into tractor-trailer accidents staged in New Orleans, Louisiana, to defraud trucking and insurance companies. The 11 accused — 10 from Louisiana and one from …

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Former Oregon School District Student Sues, Says Principal Molested Him

A former student of the Gresham-Barlow School District in Oregon has filed a $3 million lawsuit against the district and former Deep Creek Elementary School principal Jeff Hays, saying he was sexually abused by Hays. The former student is the …

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Insurance Office Of America Promotes Peters to Chief Operating Officer

Insurance Office of America (IOA) has promoted Robert J. Peters to the role of chief operating officer (COO). Peters formerly held the role of COO as part of his over 25 years’ experience in the insurance industry. Peters joined IOA …

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Universal Property Insurance Expands into Tennessee

The wholly-owned subsidiary of Universal Insurance Holdings, Inc.’s Universal Property & Casualty Insurance Co. (Universal Property), has received a certificate of authority in Tennessee, approving Universal Property as a licensed insurance entity in Tennessee. According to Universal Insurance Holdings, Inc. …

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Anbang, Andy Bang, $1 Trillion in Claims. Ritz-Carlton Mystery Gets Its Day in Court.

When a 26-year-old Uber driver walked into a California deeds office two years ago, it was the real-estate equivalent of a butterfly flapping its wings and causing a tsunami half a world away. Hired by an elderly Chinese passenger to …

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Earthquake Shakes Southeast Corner of Michigan

A magnitude 3.2 earthquake occurred on Aug. 21 near Monroe in the southeastern corner of Michigan, the U.S. Geological Survey said. The depth was about 5.7 miles (9.17 kilometers). The earthquake was felt in the Detroit area and in Ohio, …

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FBI Investigating South Dakota COVID-19 Data Breach Linked to Netsential

The FBI is investigating a data breach that may have compromised the identity of people with the COVID-19 virus in South Dakota. Paul Niedringhaus, who directs the South Dakota Fusion Center that handles emergency calls, sent a letter to people …

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FEMA Aid OK’d for Iowa County Hardest Hit by Storm

President Donald Trump has approved Federal Emergency Management Agency funding for eastern Iowa’s Linn County, which was the county that was hardest hit by last week’s rare hurricane-strength windstorm. Gov. Kim Reynolds’ office announced the approval. The FEMA individual assistance …

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Two Bodies Found, Two Missing After Explosion in Texas Port

The bodies of two missing crew members of a dredging boat were found on Saturday, Aug. 22 following an explosion a day earlier in the Port of Corpus Christi in Texas, according to the U.S. Coast Guard. The search for …

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EPA to OK Use by American Airlines of Surface Coating to Fight COVID-19

The U.S. Environmental Protection Agency is set to announce it will issue an emergency exemption to the state of Texas permitting it to allow American Airlines Group Inc. to use a new surface coating that kills coronaviruses for up to …

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How the Coronavirus Spread So Quickly Across U.S.

As the United States exceeds 5 million reported coronavirus cases — the world’s first country to do so — epidemiologists have pinpointed what helped to set the country on this path. Research from the University of Notre Dame estimates that …

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China Regulator Pledges Continued Backing of Hong Kong as Financial Center

China’s banking regulator pledged its backing for Hong Kong as a finance hub and reiterated a commitment to opening up the Chinese financial sector amid a deepening standoff with the U.S. China will provide support for its financial institutions doing …

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Hedge Fund Collects $3 Billion in Bet on Wildfire Insurance Claims

Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people with knowledge of the …

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Berkshire Hathaway Specialty Adds ERGO’s Keune to Head Executive Lines in Germany

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Dr. Carsten Keune as head of Executive & Professional Lines in Germany. Carsten has more than 20 years of industry experience. He was most recently head of global commercial lines underwriting at ERGO …

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Marco Capital Targets Europe’s P/C Insurance Run-Off Market

Newly-launched Marco Capital Holdings Limited plans to pursue property/casualty insurance run-off opportunities in Continental Europe, the UK and Lloyd’s of London. Marco enters the European run-off arena with capital resources provided by majority investor Oaktree and Marco’s own management. The …

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Britain, EU Report Little Progress on Post-Brexit Deal

Britain and the European Union made scant progress towards a deal on future ties in talks last week, and their chief negotiators blamed each other for the stalemate as time ticks down to an end-of-year deadline. “Those who were hoping …

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New Jersey High Court Sides with Pfizer Over Religious Discrimination Suit

A former Pfizer employee who said she was fired for refusing a vaccine on religious grounds can’t proceed with a discrimination lawsuit because she waived that right, New Jersey’s Supreme Court ruled Tuesday in a decision two justices called potentially …

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Global Dividends Outcome ‘Worst Since Global Financial Crisis’

The coronavirus crisis will see the world’s biggest firms slash dividend payouts between 17%-23% this year or what could be as much $400 billion, a new report has shown, although sectors such as tech are fighting the trend. Global dividend …

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Property Insurer Not Off the Hook for Claim Stemming from Fight Over Fish

A policy that excludes damages caused by “physical abuse” does not take a property insurer off the hook for a claim by an insured who agreed to pay $500,000 to settle a lawsuit stemming from injuries caused by an alleged …

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U.S. Needs an SEC for Its Health Care System: Opinion

The U.S. health care system suffers from a lack of transparency. Employers, insurers and individual consumers pay varying prices for treatments, drugs and digital information of varying quality, without knowing whether the prices are relatively high or low, or whether …

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California Electrical Contractor to Pay $1.25M to Settle Racial Harassment Suit

A San Jose, Calif.-based electrical subcontractor at the Apple Park construction project, will pay will pay $1,250,000 and provide other relief to settle a racial harassment lawsuit. Air Systems Inc. (ASI) will pay the $1,250,000 to eight African American former …

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Trump Administration, Airlines Can’t Agree on Contact Tracing Plan

The Trump administration’s efforts to require airlines to collect contact tracing information from U.S.-bound international passengers has stalled, five people briefed on the matter told Reuters on Friday, adding such a mandate is unlikely this year. Major airlines and administration …

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Crest Insurance in Arizona Names Nelson COO of Employee Benefits Division

Crest Insurance Group of Tucson, Ariz., has named Matt Nelson chief operating officer of the employee benefits division. Nelson joined Crest Insurance in 2020 as a benefits and commercial lines consultant. He was a vice president with Lovitt & Touche …

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Lockton Adds Henry to Transaction Liability Team in California

Lockton has added Philip Henry to its transaction liability. Henry is based in San Francisco, Calif. He is a former mergers and acquisitions attorney and representations and warranties insurance underwriter whose practice focused on both domestic and cross-border private equity …

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3 Kentucky Businesses Damaged by Roof Collapse

A structural engineer was expected to investigate on Saturday what caused a roof to collapse in western Kentucky, damaging at least three businesses. Shattered glass and debris were found in the street when authorities responded late Friday in downtown Henderson, …

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Wright National Expands Flood Products into Virginia

Wright National Flood Insurance Services (WNFIS) has introduced two private flood insurance products for Virginia residential property owners – The Wright Residential Private Flood Insurance Program and Hiscox FloodPlus. The company now offers Hiscox FloodPlus in a dozen states and …

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How COVID-19 Could Impact Post-Hurricane Loss Inflation in Florida: AIR Worldwide

By the end of March 2020 people were wondering what the impact of COVID-19 on the upcoming hurricane season would be. There is no historical event to provide evidence for how the scenario might unfold, so we need to start …

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Dueling Storms Marco, Laura Hit Haiti, Dominican, Cuba on Way to Gulf Coast

SUNDAY, 08/23/2020, 06:23 PM— Hurricane Marco and Tropical Storm Laura tore through the Caribbean and Gulf of Mexico on Sunday, forcing thousands of coastal residents in Louisiana and Cuba to evacuate and flooding roads in Haiti’s capital, with damage across …

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Gulf Coast Braces for Tropical Storm Marco; States Declare Emergencies

08/22/2020 05:30 PM — Marco, one of two tropical storms headed for the U.S. Gulf Coast, was forecast to strengthen into a hurricane later on Saturday as coastal governors urged residents to prepare for the unprecedented weather event amid the …

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Federal Panel Backs Workers’ Comp for Washington State Hanford Employees

A federal appeals court has unanimously ruled that Washington has a right to create laws giving employees of the Hanford Nuclear Reservation easier access to health benefits if they become ill at work. The decision by a panel of judges …

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Japan Ship Behind Oil Spill in Mauritius Deviated From Regular Shipping Lane

The Japanese-owned bulk carrier that ran aground off Mauritius and spilled oil over pristine waters and fragile coral reefs diverted more than 100 kilometers from a regular shipping lane, data from a maritime analysis firm showed. The MV Wakashio, owned …

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Class Action Targets Commonwealth Bank of Australia Over Insurance Advising

Commonwealth Bank of Australia (CBA) said on Friday a class action lawsuit was filed over advice given on life insurance policies issued and recommended by three former subsidiaries. The lawsuit was filed by Shine Lawyers against financial advisors Commonwealth Financial …

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Direct Insurance Names Business Development Manager for Its Lloyd’s Brokers

Direct Insurance Group has appointed Simon England to business development manager for its Lloyd’s broker division, Direct Insurance London Market (DILM). England joins from Compass where he was strategic accounts manager. He has 20 years’ experience as a business development …

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Weather Service Probes Damage in New Jersey to Determine if Tornado Hit

National Weather Service officials on Thursday were trying to determine if a tornado touched down as a severe thunderstorm moved across a portion of New Jersey. Heavy rain and powerful winds sent residents scrambling in the Lincroft section of Middletown …

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N.Y. Regulator Fines Assurant Subsidiary $2.8M for Violating State Insurance Laws

The New York State Department of Financial Services (DFS) has fined The Signal, LP, an Assurant Company, $2.8 million for failing to comply with New York insurance laws. A DFS press release alleged that The Signal provided inadequate consumer disclosures …

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Randall & Quilter to Acquire World Marine & General Insurance From BHP

Randall & Quilter II Holdings Limited has agreed to acquire the entire issued share capital of The World Marine & General Insurance Co. from BHP Group Limited. WMG was incorporated in England & Wales in 1894 and was purchased in …

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Alera Group Acquires Maryland’s FNL Insurance Group

Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, has acquired FNL Insurance Group, effective August 1, 2020. For more than 40 years, FNL Insurance Group has been helping clients with their employee benefit …

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Morse Insurance Agency Adds Polutchko as Commercial Lines Sales Account Executive

Morse Insurance Agency Inc. has added industry veteran David Polutchko as its newest commercial lines sales account executive. Polutchko brings more than 22 years of insurance experience to the local independent agency. In his new role, Polutchko is responsible for …

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Judge Agrees to Some VW Requests to Limit SEC Lawsuit Over Diesel Scandal

A U.S. judge on Thursday dismissed portions of a U.S. Securities and Exchange Commission lawsuit accusing Volkswagen AG of defrauding American investors in connection with the automaker’s diesel emissions scandal. U.S. District Judge Charles Breyer in San Francisco granted VW’s …

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S&P Says Underwriting in Lloyd’s Market Continues to Improve

The Lloyd’s market looks unlikely to turn an underwriting profit in 2020 given the pandemic and hurricane season. However, there a signs of improvement, according to analysts at S&P Global Ratings. S&P notes that the COVID-19 pandemic has already caused …

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Hong Kong to Begin Widespread COVID-19 Testing Sept. 1

Hong Kong leader Carrie Lam said on Friday that mass testing of residents for coronavirus in the Asian financial hub will begin on Sept. 1, as she warned people not to be complacent despite a steady fall in the number …

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West Virginia AG Sues Walmart, CVS Over State Flooding State of Opioids

West Virginia’s attorney general sued Walmart and drugstore chain CVS on Tuesday, saying they failed to monitor and report suspicious orders of prescription painkillers to their retail pharmacies in a state ravaged by the opioid epidemic. Patrick Morrisey’s lawsuits allege …

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Convicted North Carolina Insurance Donor Gets 7 Years in Bribery Case

A major political donor convicted of attempting to bribe a North Carolina elected official to secure preferential regulatory treatment for his insurance business was sentenced Wednesday to more than seven years in prison. Billionaire businessman Greg E. Lindberg was handed …

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Valley Insurance Agency Alliance Adds Piccione as Missouri Regional Manager

St. Louis-based independent insurance agency network organization, Valley Insurance Agency Alliance (VIAA), has named Susan Piccione as its regional manager for Missouri. Piccione will oversee new business development and cultivation of the company’s Independent Strategic Member (ISM) alliance. This includes …

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Florida Mayor, City Attorney Charged in $5M Hurricane Michael Fraud Scheme

The mayor and city attorney of a Florida Panhandle city are the latest to be charged in the theft of $5 million in Hurricane Michael debris removal funds, prosecutors announced Wednesday. Lynn Haven Mayor Margo Anderson and City Attorney Adam …

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The Liberty Company Insurance Brokers Adds Leavitt’s Larson in California

The Liberty Company Insurance Brokers has named Judy Larson a benefits producer in the San Jose, Calif. office. Larson has more than 30 years of benefits experience. She has previously worked for Willis, Risk Strategies, and most recently with Leavitt, …

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Bayer to Pay $1.6 Billion to End 90% of U.S. Claims for Essure Birth Control Device

German drugs and pesticides group Bayer said on Thursday it will pay around $1.6 billion to settle the majority of U.S. claims involving its Essure birth-control device. The agreement follows a $10.9 billion settlement in June of U.S. lawsuits claiming …

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Brazilian Court Orders JBS to Require Worker Distancing After COVID Outbreak at Plant

A Brazilian court this week ordered JBS SA to impose a 1.5-meter (5-feet) distance between workers in the production line at its beef plant in Pontes e Lacerda to stop the spread of the novel coronavirus, prosecutors told Reuters on …

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U.S. Charges Uber’s Former Security Chief With Deliberately Concealing Major 2016 Hackingh

In an unprecedented case, a former chief security officer for Uber Technologies was criminally charged on Thursday with trying to cover up a 2016 hacking that exposed personal information of about 57 million of the ride-hailing company’s customers and drivers. …

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Alera Group Acquires Banasky Insurance in Utah

Alera Group has acquired Banasky Insurance Inc., which has locations in Price and Draper, Utah. Terms of the deal were not disclosed. Banasky Insurance offers property/casualty insurance solutions for clients, including commercial, life & health, and personal lines solutions. The …

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Michigan Governor Assessing Risk of Reopening Long-Closed Businesses

Gov. Gretchen Whitmer said that her administration is assessing the risk of reopening Michigan businesses that have been closed for five months under her orders to curb the spread of the coronavirus, saying she will have more to say next …

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Iowa’s Mandate to Reopen Schools Causing Chaos

An aggressive push by Iowa’s pro-Trump governor to reopen schools amid a worsening coronavirus outbreak has descended into chaos, with some districts and teachers rebelling and experts calling the scientific benchmarks used by the state arbitrary and unsafe. The clash …

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California Says Fire Evacuees May Be Eligible for Reimbursement from Insurer

California residents who have been ordered to evacuate due to the hundreds of wildfires burning across the state my be able to recoup their evacuation costs from their insurance company, the California Department of Insurance says. Thousands of California residents …

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As Texas Restaurant Industry Struggles, So Does Food Supply Chain

Before the coronavirus hit Texas earlier this year, Eric Silverstein celebrated one year of opening his newest restaurant, Bar Peached, in Austin. But ever since the pandemic led to business shutdowns and the public’s fear of catching the virus, business …

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QBE Appoints Mann Head of Credit & Surety in North America

Insurer QBE has named Harpreet Mann as head of Global Credit & Surety for its North America division. In this role, she will develop strategy for enhancing the this book of business in North America while building relationships with prospective …

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Downed Power Line Blamed for Large Blaze at Dallas-Area Factory

A large fire believed to be ignited by a falling power line burned Wednesday at a Dallas-area factory that makes trash bags and other plastics, authorities said. There were no reports of injuries from the massive blaze at the Poly-America …

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Chubb Signs Onto Multi-Year Sponsorship of U.S. Tennis Open

The U.S. Tennis Association announced that insurance carrier Chubb has become the official insurance sponsor of the U.S. Open under a multi-year agreement that begins immediately. Chubb’s branding will be featured in on-court signage in Arthur Ashe Stadium, Louis Armstrong …

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Willis Re’s Livingston Joins Guy Carpenter in New Global Head of Sales Role

Reinsurance broker Guy Carpenter & Co. has named Jeffrey Livingston as global head of Sales, effective September 1. Livingston will also join the Guy Carpenter Executive Committee. In this newly created role, Livingston will be responsible for leading all of …

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Court Deals Blow to Litigation Funders With False Claims Act Suits

A federal appellate court dealt a blow against litigation funding companies by ruling that the U.S. Justice Department can dismiss any False Claims Act lawsuits that it deems meritless without first proving that dismissal is justified. The 7th Circuit Court …

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New York Regulator Issues Insurance Fraud Action Against Two Opioid Manufacturers

The New York State Department of Financial Services (DFS) has filed charges and initiated administrative proceedings against Teva Pharmaceutical Industries Ltd. and its subsidiaries, as well as Allergan PLC and its subsidiary Allergan Finance LLC, in connection with the opioid …

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State Media Reports 14 Missing After Cargo Ship and Tanker Collide Off Shanghai

BEIJING— An oil tanker carrying 3,000 tonnes of gasoline collided with a cargo ship near Shanghai on Thursday, leaving 14 people missing, state media reported. State broadcaster CCTV showed footage of the oil tanker burning at sea as coastguard ships …

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The Union Mutual Companies Promotes Burrall in Vermont

The Union Mutual Companies recently announced the promotion of Alexis Burrall to assistant vice president of marketing. Having graduated from The University of Vermont in 2009, Burrall began her career in financial planning for a Boston, Mass.-based company. With prior …

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Dispute Among EU Regulators Delays Twitter Data Privacy Fine

Some European Union regulators objected to Ireland’s preliminary ruling in a landmark privacy investigation of Twitter, the lead regulator said on Thursday, triggering a process where a majority decision will be sought. Twitter had looked set to become the first …

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Limitations Period for Reimbursement Claims Does Not Apply in Industrial Accident Case

Reimbursement claims made against the town of Adams, Mass., by the town’s workers’ compensation insurer are not subject to the two-year statute of limitations established in a Department of Industrial Accidents (DIA) regulation, a Massachusetts Appeals Court has ruled. This …

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Japanese Lunar Exploration Firm ispace Raises $28M and Inspires Moon Insurance

The Japanese lunar exploration firm, ispace, which is developing spacecraft to carry people to the moon, just raised $28 million from the four organizations for its Series B investment round. The firm, which aspires to be a “gateway for the …

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Court Grants Facebook Preliminary OK to Settle Facial Recognition Privacy Claims

Facebook Inc. won preliminary approval late on Wednesday from a federal court for settlement of a lawsuit that claimed it illegally collected and stored biometric data of millions of users without their consent. The social media company had in July …

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Chinese Crowdfunding, Insurance Site Waterdrop Raises $230 Million, Plans U.S. IPO

Chinese online insurance technology platform Waterdrop Inc. has raised $230 million in a new funding round led by reinsurer Swiss Re and Chinese internet giant Tencent Holdings, it said on Thursday. Waterdrop’s existing investors, including IDG Capital and Wisdom Choice …

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The Upton Group of Alabama Partners with Acrisure

The Upton Group has entered into a partnership with global insurance broker Acrisure, which will enable The Upton Group to build on its insurance and risk management services for franchise business clients, with a special emphasis in pizza and food …

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Tennessee Gov Signs COVID-19 Business, School, Nursing Home Liability Law

Tennessee Gov. Bill Lee has signed into law sweeping protections for businesses, schools and nursing homes against coronavirus lawsuits. Lee on Monday touted the legislation as “historic” and argued the law would protect businesses from “frivolous lawsuits.” The GOP-dominated Statehouse …

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Ohio Department of Insurance Adds Barron to Senior Team

Lori Barron has joined the Ohio Department of Insurance as a senior policy advisor. Barron has more than 20 years of experience in the insurance and financial services industry, having served in business and product strategy, innovation, product development, underwriting, …

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Insurance Office Of America Adds Mongold to Employee Benefits Team in Florida

Insurance Office of America (IOA) is has added Jared Mongold to its expanding team. Mongold joins the Melbourne, Fla., branch office as an employee benefits specialist. Before joining IOA, Mongold was a senior benefits advisor at Brown & Brown of …

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Drug Costs for COVID-19 Patients in U.S. Hospitals Drop But May Rise Again

Medication costs for COVID-19 patients hospitalized in the United States have dropped sharply since May, reflecting advances in treatment, shorter stays and use of cheaper generic drugs. But costs may rise again as hospitals start to pay for Gilead Sciences …

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Cold Chain Mystery: Does Coronavirus Spread Via Contaminated Food Packaging?

Evidence shows that food is an unlikely route of transmitting the coronavirus across borders, but contaminated items continue to grab the spotlight, deepening the uncertainty over whether the $220 billion cold chain industry could be implicated in the spread of …

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Supreme Court’s Next Obamacare Test to Happen a Week After Election

The U.S. Supreme Court said it will hear its blockbuster clash over the constitutionality of the Affordable Care Act on Nov. 10, a week after an election in which Democrats are seeking to make health care a central focus. The …

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Pandemic Hits Insurer AIA Group’s New Business in Hong Kong, China

Hong Kong-based insurer AIA Group Ltd. on Thursday reported a 37% fall in new business for the first half of the year, as the COVID-19 pandemic dented sales of its insurance products in its main markets of Hong Kong and …

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Report: Iowa Will Only Get Part of $4B Disaster Relief Request, for Now

President Donald Trump said he had signed an emergency declaration for Iowa to help supply federal money to help the state recover from an unusual wind storm that struck a week ago but federal emergency management officials later confirmed he …

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Wisconsin Reinsurance Group’s Credit Rating Outlook Drops From Positive to Stable

AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICRs of “bbb” of Wisconsin Reinsurance Corporation (WRC) and …

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Judge: North Dakota Insurance Commissioner Candidate Not Eligible to Run

A South Central District judge has concluded the Democratic-NPL nominee for North Dakota insurance commissioner hasn’t lived in the state long enough to hold the office. The decision by Judge Thomas Schneider about Travisia Martin now goes to the state …

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Randall & Quilter to Acquire Inceptum

Randall & Quilter II Holdings Limited has agreed to acquire the entire issued share capital of Inceptum Insurance Co. Inceptum is closed to new business and the company’s principal activities are the run-off of general insurance business, settling claims and …

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Montana Officials Drop Proposed Ban on Flavored Vaping Products

The Montana health department has decided to withdraw a proposed rule that would ban flavored vaping products in the state. The decision came after 13 state senators and seven representatives, all Republicans, signed letters last month opposing the rule and …

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Colorado Banning Open Fires as State Battles 4 Wildfires

Gov. Jared Polis issued a 30-day ban on open fires such as campfires, fireworks and other open sources of ignition on Tuesday as the state battles four separate wildfires. The ban does not include home barbecues, public grills, camp stoves …

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Aon’s New Capital Partners Aims to Tap Additional Sources of Capital for Reinsurance

Global broker Aon has formed a new team in its Reinsurance Solutions business that will focus on building global investor relationships in order to identify additional sources of capacity to clients. The new Capital Partners team will initially bring third-party …

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Settlement in Triple-Murder Lawsuit in Washington Includes Gun Retailer

A wrongful death lawsuit involving the fatal shooting of three 19-year-old friends murdered at a Washington state house party in 2016 has reached a settlement. The lawsuit was filed in 2019 by David Bui, the brother of Anna Bui, one …

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Roadmaps for Wildfire Mitigation Provide Guidance for Suburban Neighborhoods

New wildfire guidelines from an insurance industry home safety organization offer guidance for adapting suburban communities to the growing threat of wildfire. The Insurance Institute for Business & Home Safety (IBHS) said its Suburban Wildfire Adaptation Roadmaps offer a detailed …

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SpottedRisk Acquires Completion Bonds Agency Media Guarantors

Entertainment insurance provider SpottedRisk has acquired Media Guarantors, a specialized managing general underwriter focused on completion bonds for the film industry. West Hollywood, Calif.-based Media Guarantors, launched in 2018, has been a subsidiary of Cast & Crew, a payroll, human …

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Marsh’s Russell-Vick Joins Willis to Head Broking for Finex Business for Britain

Global broker Willis Towers Watson announced the appointment of Mark Russell-Vick as its new head of broking for its Financial, Executive and Professional (Finex) line of business in Great Britain within its Corporate Risk & Broking (CRB) segment. Russell-Vick will …

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Philadelphia Officer’s Widower Charged with Fraud in Benefits Collection

The widower of a Philadelphia police officer who died while on duty has been charged with fraud after authorities say he collected hundreds of thousands of dollars worth of workers’ compensation death benefits after he had remarried. The Philadelphia district …

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Twelve Hurt as Commuter Buses Crash on New Jersey Turnpike Ramp

A crash early Monday involving two New Jersey Transit buses on a New Jersey Turnpike exit ramp left roughly 12 people injured, authorities said. The accident in Secaucus occurred around 7:15 a.m., state police said. One bus rear-ended the other …

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Arceo.ai Names Gamble in New York to Lead Broker Relations

Cyber analytics firm Arceo.ai has named Thomas Gamble as executive vice president and global chief distribution officer. Gamble will be based in Arceo’s New York offices. Gamble has experience in mergers and acquisitions and risk management. He was previously a …

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China Makes Investor Class Actions Easier in Crackdown on Corporate Fraud

China wants its army of mom-and-pop investors to take corporate fraudsters to task with landmark class action lawsuits, but heavy government involvement means they are not likely to be as common as in other legal systems, lawyers and investors said. …

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20% of Meat Plant Workers Infected with Covid in Large Exporter Brazil, Union Says

One in five workers at Brazil’s meat plants have been infected with coronavirus, according to union estimates. That would make the country home to one of the world’s worst workplace outbreaks. The estimate comes from Nelson Morelli, the president of …

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UK Working With Heathrow on COVID Testing as Alternative to Quarantine

Britain is working with London’s Heathrow Airport on a plan to use COVID-19 testing to help shorten quarantine times, in an effort to help airlines and airports kickstart travel and the wider economy. Heathrow said on Wednesday that a testing …

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North Carolina Lt. Gov Abandons Lawsuit Challenging Virus Orders on Businesses

North Carolina Republican Lt. Gov. Dan Forest ended a testy legal battle with campaign rival and Democratic Gov. Roy Cooper last week after a judge rejected Forest’s demand to block Cooper from shuttering businesses during the COVID-19 pandemic. Forest sued …

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Florida Unveils $10M Loan Program to Aid Hurricane Michael-Ravaged Panhandle

Gov. Ron DeSantis announced a $10 million housing loan program that could benefit hundreds of home buyers in the Florida Panhandle, which was devastated two years ago by Hurricane Michael. DeSantis traveled to Panama City Monday to make the announcement. …

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Mauritius Arrests Captain of Japanese Oil Spill Ship

Mauritius has arrested the captain of a Japanese bulk carrier that ran aground off its coast, causing a devastating oil spill in one of the world’s most pristine maritime environments, police said on Tuesday. The MV Wakashio struck a coral …

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Class Action Claims E*Trade Failed to Warn About Risks From Oil Price Crash

One of the biggest U.S. brokerages has been hit with a class action lawsuit after the oil price crash in April led to hundreds of thousands of dollars in losses for its clients and allegations that the firm failed to …

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Constructing a Post-Pandemic Construction Market

The construction industry may emerge from the pandemic strong or relatively unscathed compared to other segments of the economy. But it also faces its share of challenges in managing exposures, delays, added costs and shutdowns in this COVID-19 world. Construction …

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States Seek $26.4 Billion From Drug Firms in Opioid Litigation – WSJ

U.S. states are seeking a combined $26.4 billion from three major drug distributors and Johnson & Johnson to settle opioid litigation against the companies, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. About a dozen …

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SCM Insurance Services in California Adds Jetté and Melbon to Ownership Team

Two owners have been added to in Irvine, Calif.-based SullivanCurtisMonroe’s ownership team: Skip Jetté, who has been with SCM for 19 years and manages the Corona office, and John Melbon, who joined SCM seven years ago and is part of …

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Old, Underground Coal-Storage Vaults Still a Threat in Indiana City

A northern Indiana city still has more than two dozen underground coal-storage vaults that need addressing more than eight years after a man walking on a sidewalk plunged into one of the chambers. Goshen officials began mapping and inspecting the …

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Large Apartment Fire in North Dakota Ignited by Smoking Materials

A big fire at an apartment building in Mandan, N.D., last week started accidentally with improperly discarded smoking materials, police said. The determination was made after examination of physical evidence and interviews with building occupants and witnesses, Deputy Police Chief …

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Texas Insurance Commissioner Sullivan Returning to Private Sector

Texas Insurance Commissioner Kent Sullivan will resign from his post in September and return to the private sector, the Texas Department of Insurance reported. In his three years at the agency, Sullivan, who took the top leadership job in October …

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Commissioner Notes New Auto Insurance Rate Reductions in Louisiana

Louisiana’s insurance commissioner has approved new rate decreases for private passenger auto policies for two major auto insurers in the state. Insurance Commissioner Jim Donelon has approved Progressive Insurance Group’s filing for a rate decrease of 2.3% on new business …

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Inventor Peddles a Wildfire Spray to Desperate Homeowners. Not All Are Buying It.

Jim Moseley stands poolside, aviator sunglasses perched on his head, holding a blowtorch. He’s got a stick that’s been treated at one end with SPF 3000, the fire-prevention spray he invented. We’re on the side of a mountain in Malibu …

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Washington Reporting 576 New Coronavirus Cases

The Washington State Department of Health is reporting 576 new confirmed cases of COVID-19 and 15 deaths. King County continues to have the highest numbers in Washington, with 17,623 cases and 694 deaths. Yakima County is second, with 10,625 cases …

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Oregon Wildfire in Mop-up Phase, 36 Structures Destroyed and 660 Threatened

A wildfire burning in the scenic Columbia River Gorge that has destroyed dozens of structures is 65% contained, according to authorities. Some evacuation orders were downgraded as of Monday because of the containment progress. The fire has burned nearly 1,000 …

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IGI Appoints Neon’s James as Class Underwriter for Cargo in London

Specialist insurer International General Insurance Holdings announced the appointment of Brian James as class underwriter for Cargo. James will be based in IGI’s London office and will be responsible for developing a niche portfolio of general cargo business, focusing on …

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Allianz Benelux Sells Closed Life Insurance Book to Monument Assurance Belgium

Allianz Benelux in Belgium reported it will transfer a closed book of life retail insurance business together with 4.500 mortgage loans to Monument Assurance Belgium (MAB) within 18 months after regulatory approvals. The transaction includes a portfolio of 95.000 policies …

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Massachusetts’ Covenir Hires Guarino as National Sales Manager

Covenir, a Worcester, Mass.-based insurance business process outsourcing firm, has hired Robert Guarino as its national sales manager. In this role, Guarino will develop relationships and service agreements with insurers and managing general agencies striving to scale their businesses without …

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Heavy Rains in Virginia Close Roads, Prompt Evacuations at Dams

Torrential weekend rains in central Virginia led to scores of road closings in low-lying areas and prompted home evacuations near a pair of small dams. Between three inches and 10 inches of rain fell in the greater Richmond area, particularly …

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Griffin Owens Insurance Specialists Affiliates with Leavitt Group

Griffin Owens Insurance Specialists has affiliated with Leavitt Group. Agents and staff will continue to work with their current clients from their current location following the affiliation. The affiliation will not affect current accounts, and clients will continue to work …

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As Harvest Losses Continue, German Farmers Seek Insurance Subsidy

Germany’s 2020 grain harvest will fall below average for the third year in a row as farmers grapple with extreme weather conditions, the DBV farmer’s association said on Tuesday. The grain harvest this year is expected to amount to 42.4 …

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NFP Acquires Ireland’s HMP Insurance

New York-based insurance brokerage NFP said it has acquired HMP Insurance & Pension Advisors Limited (HMP), based in Dublin, Ireland. Terms were bot disclosed. HMP provides employee benefits, pension and group risk advice to corporate and individual clients. Formed in …

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Airlines, Airports Urge UN to Accept COVID Testing Over Quarantines

Airlines and airports will ask a UN-led task force meeting on Tuesday to recommend countries accept a negative COVID-19 test within 48 hours of travel as an alternative to quarantines that have decimated demand for travel, according to a document …

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Europe Urged to Focus on Those Who Must Pay Off Debt After Pandemic

Rebuilding Europe after the coronavirus pandemic will be akin to the post-World War II reconstruction effort and the bloc must reaffirm its core values despite challenges from global powers, former European Central Bank President Mario Draghi said. The pandemic risked …

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Business, Insurers Face Survival Showdowns Over Pandemic Coverage

PILANESBERG NATIONAL PARK, South Africa— Wynand du Toit’s safari camp in South Africa’s Pilanesberg National Park lies abandoned, its tents ripped open by baboons and its survival in the balance after his insurer rejected his COVID-19 claim. In the United …

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Toyota Building Cloud-Based Data Services Including Insurance With Amazon’s Help

Amazon.com Inc.’s cloud computing unit will help Japan’s Toyota Motor Corp. build a platform to help manage and monetize data gathered from the automaker’s global vehicle fleet, the companies said on Monday. Toyota said its Mobility Services Platform will enable …

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Auto Insurance Shopping Rebounds After Dropping During Spring

Auto insurance shopping and new business growth rebounded in May and June after a drop in late March and early April due to COVID-19 shutdowns, civil unrest and other events. However, there was little impact on the annual shopping rate, …

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States Say OxyContin Maker Purdue Pharma Owes $2.2 Trillion for Opioid Epidemic

U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down …

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Pandemic-Afflicted Cruise Operator Carnival Hit by Ransomware

Cruise operator Carnival Corp. said on Monday it launched an investigation into a ransomware attack on one of its brand’s information technology systems. Carnival, which operates AIDA, Carnival and Princess cruises among others, in a regulatory filing said the attack …

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Root Insurance Hopes Others Join Its Vow to End Use of Credit Scoring

Root Insurance pledged to eliminate the use of credit scoring from its car insurance pricing model by 2025, a move the insurtech said will help remove bias and discrimination from the process. “Eliminating credit scores is a major and necessary …

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Former Florida Rep Diaz Appointed to Citizens Board of Governors

Former Florida State Representative Jose Felix Diaz Florida has been appointed to the Citizens Board of Governors for a three-year term beginning August 1. Diaz was appointed by House Speaker Jose Oliva, R-Miami. Diaz currently serves as executive vice president …

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Weather Service: Storms Spawn at Least 6 Tornadoes in Minnesota

The National Weather Service has confirmed that storms on Aug. 14 spawned at least six tornadoes in Minnesota. Survey crews determined the strongest tornado was an EF1 in McLeod County packing winds estimated at up to 95 mph (153 kph). …

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Louisiana to Get $205M in BP Spill Money for Coastal Restoration

Louisiana is getting another $205 million in BP oil spill money to restore its coast. Most of that — $176 million — will use sediment dredged from the Mississippi River to build 1,200 acres (485 hectares) of marsh in Jefferson …

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Family Sues Illinois Meatpacking Plant After Man’s Death from COVID-19

The family of a suburban Chicago woman who died of complications related to COVID-19 has filed a wrongful death lawsuit against a meatpacking plant where her husband worked and contracted the virus. The family of Esperanza Ugalde alleges in their …

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Wisconsin Board Delays Rules Setting New Restrictions on PFAS Chemicals

Environmental regulators in Wisconsin has voted to table rules setting new restrictions on firefighting foam containing PFAS chemicals. The Department of Natural Resources’ policy board made the decision in a unanimous vote, the Wisconsin State Journal reported. The department has …

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Federal Judge Advances Business Interruption Dispute Between Law Firm, Travelers

A federal judge in California disappointed a law firm suing Travelers Insurance over coronavirus lockdown related business interruption claims in refusing to remove its case to state court and denying its request for a dismissal or stay of a countersuit …

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Los Angeles County Owes $8M to Man Killed Like George Floyd, Court Rules

Los Angeles County must pay a full $8 million damage award to the family of a Black man whose death had similarities to the police killing of George Floyd in Minneapolis, the California Supreme Court ruled. While subduing Darren Burley …

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Arizona Reports 933 Additional Virus Cases, 69 More Deaths

Arizona has reported 933 additional confirmed COVID-19 cases with 69 more deaths, increasing the state’s totals to 192,654 cases and 4,492 deaths. The latest COVID-19-related hospitalization metrics posted Saturday by the state Department of Health Services were at levels last …

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Connecticut Boat Explosion That Sent Six Into the Water Being Investigated

Connecticut officials are investigating the cause of a boat explosion that forced six people to jump to safety into Norwalk Harbor. Multiple people called 911 to report the explosion at about 6 p.m. Thursday. All six people aboard were rescued, …

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Brown & Brown of Massachusetts Acquires Assets of Amity Insurance Agency

Brown & Brown of Massachusetts Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Amity Insurance Agency. Amity Insurance was founded in 1978 and offers insurance products and services, specializing in risk management …

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Nexus Unites Trade Credit Broking Business Under ‘Xenia’ Brand

Xenia Broking Group, the independent trade credit broking arm of Nexus Group, announced it is uniting under one trading name and brand: Xenia. Nexus acquired Credit Risk Solutions in October 2017 and Credit and Business Finance in April 2019. The …

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Japanese Bulk Carrier Splits Apart as Mauritian Authorities Work to Contain Oil Spill

A Japanese bulk carrier that ran aground on a reef in Mauritius last month threatening a marine ecological disaster around the Indian Ocean island has broken apart, authorities said on Saturday. The condition of the MV Wakashio was worsening early …

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Heatwaves Raising California’s Wildfire Risk

The current heatwave broiling Californians like no event in decades is also elevating the risk for another potential disaster in the weeks ahead: wildfires. While heat and dry conditions have contributed to the Lake and Ranch fires burning now in …

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Global Insurance M&A Surges in First Half but Lull Expected in H2

Mergers and acquisitions (M&A) in the global insurance industry rose in the first half of 2020 with 201 completed deals worldwide, up from 197 in the second half of 2019, according to Clyde & Co’s “Insurance Growth Report” mid-year update. …

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