Argo Checking Out of Grocery, Restaurant and Other Retail Insurance Lines

Specialty insurer and reinsurer Argo Group International is exiting the grocery and retail lines of business, which include providing general liability and self-insured retention risk management programs for grocery stores, convenience stores, restaurants and other retail businesses. The company said …

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Insurance CEO Who Was Once a Man Brings Unique Gender-Equality Perspective

Caroline Farberger, the chief executive of a Swedish insurance company, remembers how she conducted meetings when she was a man. “I would unthinkingly turn to my favorites in the room, the ones I knew shared my views, and suddenly we …

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Ohio to Return $5B From Injured Workers Fund to Employers

Ohio employers will receive a record $5 billion in repayments from the state insurance fund for injured workers to help with the financial impact of the coronavirus pandemic, Gov. Mike DeWine and the fund’s administrator announced. The return of the …

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Waymo Issues Self-Driving Car Incident Score Card for Phoenix Area

Self-driving tech company Waymo, which this month opened its driverless taxi service in the Phoenix suburbs to the public, on Friday said its autonomous vehicles there had been involved in 18 minor incidents since 2019 during tests and actual rides. …

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Insight Service Group Acquires Pennsylvania’s Social Detection

Insight Service Group (ISG) has acquired Social Detection LLC., based out of Pennsylvania, to further expand its Social Media Technology platform. Together, ISG and Social Detection will provide a more expansive and integrated combination of investigation, medical and record management …

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California City to Pay $7M to Family of Man Killed by Officer

A San Francisco Bay Area city has agreed to pay $7.3 million to settle a lawsuit by the family of a man who died after an officer placed him in a controversial neck hold that has since been banned in …

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Officials Release Details About Deadly Hawaii Skydiving Crash

Federal officials released documents this week that provide details about one of the deadliest civil aviation accidents of the past decade, including testimony from people who had varying accounts of the crash pilot’s flight habits. The public docket contains reports …

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Jerry Falwell Jr. Files Suit Against Liberty University Claiming Reputational Damage

The former president and chancellor of Liberty University (LU), Jerry Falwell Jr., is suing the school for reputational damage following his August resignation, according to a complaint filed in the Commonwealth of Virginia Circuit Court for the City of Lynchburg. …

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Nautilus Insurance Names Joyce as President; Kuzma to Become Chairman

Scottsdale, Arizona-based specialty insurer Nautilus Insurance Group announced the appointment of Thomas Joyce as president. He is succeeding Tom Kuzma, who has been named chairman. These changes will take effect January 1, 2021. Joyce joined Nautilus as senior vice president …

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Pennsylvania Judge Allows COVID Business Loss Suit Against Lloyd’s to Advance

Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned aside objections to the suit raised …

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P/C Pandemic-Related Business Interruption Risk Is ‘Uninsurable,” Says Geneva Assn.

Property & casualty (P&C) insurers have nowhere near the capacity needed to absorb systemic business interruption losses from lockdown measures during a pandemic, according to a report from the Geneva Association (GA). However, P&C insurers have nowhere near the capacity …

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McDonald’s Black Franchisees File New Discrimination Lawsuit

McDonald’s Corp. was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores. The proposed class action led by James and Darrell Byrd, brothers …

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Reinsurers’ Investment Strategies Offer Buffer for Low Interest Rates, Pandemic: S&P

A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …

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NTSB Investigating Tennessee Bus Crash that Killed Child, Driver

Federal and state authorities on Wednesday investigated a crash between a school bus carrying 24 children and a utility vehicle that killed the bus driver and a 7-year-old girl in eastern Tennessee. Eight other children were injured when the utility …

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Florida Insurance Market Inches Closer to Crisis – Part 2

The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by multiple hurricanes in the last …

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Louisiana Issues Insurer Data Call for Hurricane Delta Damage Claims

Property/casualty insurance companies in Louisiana, including those that write private and/or excess flood coverage, as well as surplus lines insurers, have been directed to report claims data arising from Hurricane Delta to the state insurance department. It is the second …

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Nexus Specialty Adds Schneider, Fayette in Chicago

Nexus Specialty has hired Katie Schneider as assistant vice president, Management & Professional Liability, in the group’s Chicago, Ill., office. The company also named William K. Fayette, senior underwriter, Management & Professional Liability, also based in Chicago. Schneider will be …

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South Dakota School District to Pay $50K to Settle Suit with Former Employee

The Douglas School District in Box Elder, S.D., will pay a former district employee $50,000 to settle a lawsuit filed in February 2019, representatives from both sides said on Oct. 27. Patrick Ealy said he was wrongly terminated by the …

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Illinois Staffing Firm to Pay $25K to Settle Federal Sex Discrimination Suit

An Illinois-based staffing agency will pay $25,000 to settle a federal lawsuit alleging it refused to hire qualified females as receiving associates. LTI Services LLC in Burbank, Ill., also has agreed to other conditions to settle a sex discrimination lawsuit …

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The Coronavirus Pandemic and The Great Workplace Debate: Viewpoint

Decisions on where and how to work are embodied in trillions of dollars of investment worldwide, including the siting of commercial and residential real estate as well as transportation systems and other infrastructure. Even a small shift in work patterns …

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Republicans Eye ‘Jackhammer’ to Reform Tech Liability While Democrats Grab ‘Scalpel’

Big Tech’s decisions to block some posts and videos while letting other content viewed as inflammatory proliferate have drawn the ire of Republicans and Democrats alike, raising the prospect that a 24-year-old U.S. law that fostered the internet’s explosion will …

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How Government Plans to Make COVID-19 Vaccine Free for Every American

Federal health officials Wednesday issued insurance coverage rules designed to deliver on the promise that every American will have access to free COVID-19 vaccines when they are approved. The regulations from the Centers for Medicare and Medicaid Services, or CMS, …

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Why It’s a Good Time for Insurtechs to Be Thinking About Mergers

The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an insurance industry expert believes. “InsurTech is reaching a point where [startups] must decide whether …

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Illinois Governor Bans Indoor Dining in Chicago as Virus Cases Surge

Surging COVID-19 cases in Chicago has prompted Illinois Gov. J.B. Pritzker to ban indoor dining and bar services and limit the number of people gathering in one place. However, Chicago Mayor Lori Lightfoot says she isn’t sure Pritzker’s new restrictions …

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WHO to Form COVID Insurance Scheme for Vaccine Side-Effects in Poor Nations

BRUSSELS – A vaccine scheme co-led by the World Health Organization is setting up a compensation fund for people in poor nations who might suffer any side-effects from COVID-19 vaccines, aiming to allay fears that could hamper a global rollout …

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GM’s Cruise on Top in Consumer Reports Safety Ratings of Driving Assistance Systems

General Motors Co.’s Super Cruise once again edged Tesla’s Autopilot in an evaluation of 17 vehicles equipped with active driving assistance systems (ADAS) by Consumer Reports, the testing organization said on Wednesday. A Tesla Model Y fitted with Autopilot finished …

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Utility in California Slow to Pull Plug Before Wildfire Erupted

Facing extreme wildfire conditions this week that included hurricane-level winds, the main utility in Northern California cut power to nearly 1 million people while its counterpart in Southern California pulled the plug on just 30 customers to prevent power lines …

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Delaware Workers’ Comp Rates Drop for Fourth Year in a Row

Delaware workers’ compensation insurance rates will decrease for the fourth year in a row, effective December 1, 2020. This comes as the voluntary market is seeing yet another double-digit decrease in loss costs, with an average 11.56% reduction, and residual …

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Boston Insurance Brokerage Expands Specialty Offerings; Fell to Lead New Division

Boston Insurance Brokerage (BIB) has announced an expansion of its specialty offerings to include Programs & Compliance. The new division at BIB will be led by Senior Vice President Christopher Fell. BIB has a history of offering unique insurance solutions …

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Fast-Moving Zeta Wallops Louisiana, Causes Blackouts Across South; Damages Could Hit $5B

Tropical Storm Zeta is spinning across the U.S. South after walloping New Orleans, blacking out 1.9 million homes and businesses and leaving a trail of wreckage from Louisiana to North Carolina. Zeta made landfall near Cocodrie, Louisiana, with winds of …

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Sompo International Names New York’s Gundersen Head of Asian Risk Solutions

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Sara Gundersen as executive vice president and Asian Risk Solutions segment leader within its Sompo Global Risk Solutions (GRS) business unit. She will …

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New Storm Takes Aim at Philippines, Just Days After Devastation of Typhoon Molave

The Philippines is bracing for a new storm that will hit the Southeast Asian nation this weekend, days after Typhoon Molave left at least 16 people dead and thousands in evacuation sites. Goni, which developed into a severe tropical storm, …

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Typhoon Molave Slams Vietnam, Killing at Least 16: News Report

Typhoon Molave hit Vietnam’s central coastline and northern Central Highlands with winds of up to 133 kilometers per hour on Wednesday, triggering landslides in Quang Nam province, VnExpress news website reported, citing local authorities. Authorities reported 16 deaths, 12 injured …

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James River Names Former Allied World Executive D’Orazio as CEO, Succeeding Abram

James River Group Holdings Ltd. announced that Frank D’Orazio has been named chief executive officer of the company, effective Nov. 2, 2020. J. Adam Abram, the company’s founder and current CEO will retire on Nov. 1, 2020. Abram will remain …

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Facebook Faces UK Legal Action Involving Cambridge Analytica Scandal

Facebook Inc. risks being dragged into a UK legal dispute involving almost 1 million British users affected by the Cambridge Analytica scandal, two years after revelations about the misuse of private data caused a global backlash. A group — Facebook …

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More Firms Need to Disclose Potential Financial Hit from Climate Change: Regulator

Too few companies specify their prospective financial hit from climate change under a voluntary global disclosure code that needs wider backing from asset managers and others to be fully effective, a global regulatory body said on Thursday. Climate change can …

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AXIS Insurance, Kennedys Law Launch Marine Cyber Product

AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, and Kennedys Law LLP, have collaborated on services for AXIS’ new marine cyber insurance product. This product offers coverage for the marine shipping market to protect against cyber …

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Wisconsin DNR Wants to Raise Mining Fees, Require More Detailed Plans

Mining applicants would have to pay more for permits and licenses, supply more detailed plans to state regulators, and work around a new list of areas deemed off-limits under regulations the Wisconsin Department of Natural Resources is developing. The DNR …

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QBE NA Appoints Steinsdoerfer as Central Regional Underwriting Leader

QBE North America has hired Bobby Steinsdoerfer as senior vice president, regional underwriting leader – central region. Steinsdoerfer joins QBE from AIG’s Blackboard Insurance Co., bringing 12 years of underwriting and strategic leadership experience in commercial and specialty insurance. Prior …

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Florida Property Insurance Market Inches Closer to Crisis – Part 1

After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from non-catastrophe water losses and rising reinsurance rates …

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Dozens of U.S. Hospitals Hit With String of Ransomware Attacks

Eastern European criminals are targeting dozens of U.S. hospitals with ransomware and federal officials on Wednesday urged healthcare facilities to beef up preparations rapidly in case they are next. The FBI is investigating the recent attacks, which include incidents in …

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Woodruff Sawyer Names McEvoy of Marsh Property Practice Leader in California

San Francisco, Calif.-based Woodruff Sawyer has named Mark McEvoy its property practice leader. McEvoy is based in San Francisco and will lead the practice nationally. McEvoy has more than 13 years of experience in both insurance and reinsurance. Prior to …

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Chubb Weathers $1 Billion in Catastrophes, Gains New Business in COVID Economy in 3Q

Chubb’s net income grew by 9 percent in the 2020 third quarter, which CEO Evan Greenberg credited to rate hikes and improving underwriting conditions despite a tough environment shaped by the COVID-19 pandemic. The tough environment also included pre-tax catastrophe …

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How Much Insurance Groups Have Given to Trump, Biden and House, Senate Candidates

Democratic presidential candidate Joe Biden has received more funds from insurance industry political committees than President Donald Trump in this 2020 election cycle. Biden has received $5.5 million compared to Trump’s $4.6 million, according to an analysis from the Center …

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CoreLogic Engaged in Takeover Talks With CoStar, Warburg

CoreLogic Inc. is in discussions with CoStar Group Inc. and a consortium consisting of Warburg Pincus and GTCR about a potential takeover, valuing the company at more than $80 a share, according to a person familiar with the matter. CoStar …

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Hurricane Zeta Slams Louisiana With High Winds, Storm Surge

Oct 28 06:10 PM. Hurricane Zeta smashed into Louisiana on Wednesday with 110-mile-per-hour (175 kph) winds and what government trackers called “a life-threatening storm surge,” the third hurricane to hit the U.S. Gulf Coast state this year. Zeta’s extremely dangerous …

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Wisconsin City’s Failure to Report Contamination Site Deemed an ‘Oversight’

A 2015 report identified hazardous substances on the site of the Sheboygan Municipal Armory near Lake Michigan, but contamination was only recently reported to the Wisconsin Department of Natural Resources at the request of state environmental regulators. Now, the DNR …

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Deadline for Louisiana Residents to Apply for Laura Aid Extended

Louisiana residents with damage from Hurricane Laura will get an extra month to sign up for disaster aid from the Federal Emergency Management Agency. The deadline to register with FEMA had been set for Tuesday. But the agency announced that …

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Higginbotham, Brisky & Perez Insurance Agency Merge in Texas

Independent insurance agency, Higginbotham, and Brisky & Perez Insurance Agency, an independent firm in Brownsville, Texas, have merged operations, expanding Higginbotham’s reach in South Texas. Both firms broker commercial and personal property/casualty insurance, employee benefits and individual life and health …

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AI-Based Risk Score Predicts Prognosis of Outpatients with COVID-19

A new artificial intelligence-based score considers multiple factors to predict the prognosis of individual patients with COVID-19 seen at urgent care clinics or emergency departments. The tool, nicknamed CoVA, was created by investigators at Massachusetts General Hospital (MGH) and can …

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Louisiana Hunkers Down as Zeta Takes Aim at State

Louisiana prepared for the sixth lashing this year from a Gulf Coast system as Tropical Storm Zeta sped off the Yucatan Peninsula bringing high winds and rain to a region still reeling from a series of storms. Zeta was about …

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Female Football Star in Utah Files Lawsuit for Schools to Offer Girls’ Teams

Sam Gordon’s staggering football skills made her famous at age 9. But they didn’t make her fully welcome on the field. As the only girl in a tackle football league in Utah, she heard parents from opposing teams urge their …

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PG&E Says Equipment May Have Sparked California Wildfire

Southern California Edison said its equipment may have sparked a fast-moving wildfire that forced evacuation orders for some 100,000 people and seriously injured two firefighters on Monday as powerful winds across the state prompted power to be cut to hundreds …

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Q3 Insurtech Fundraising Breaks Records, but Some Mid-Tier Firms See Funding Gap

Insurtech funding saw the largest number of deals and the highest amount of funding since data recording into insurtech began, with $2.5 billion raised by insurtech firms across 104 deals during the third quarter, according to a report published by …

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New York City Sued Over Clashes with Floyd Protesters

Two civil rights organizations are suing New York City on behalf of protesters who say they were assaulted and abused by police officers because they expressed anti-police views during nightly demonstrations in the spring in the wake of George Floyd’s …

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City of Baltimore to Compensate Family of Officer Shot Before Testimony

The city of Baltimore has agreed to pay workers compensation benefits to the family of a police detective who was fatally shot in the head a day before he was scheduled to testify before a grand jury investigating police corruption. …

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Berkshire Hathaway Specialty Insurance Hires Yozzi to its New York Office

Berkshire Hathaway Specialty Insurance (BHSI) has hired Renee Yozzi to lead Customer & Broker Engagement for the Eastern U.S. Region. Yozzi brings nearly 20 years of experience to BHSI. She most recently held the title of director of Strategic and …

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Ant Group Is About to Shatter IPO Records. Here’s Why.

HONG KONG – Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay — …

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Startup Auto Insurer Root Raises $724.4 Million in IPO

Automobile insurance startup Root Inc. sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has $200 million in debt, sold 26.8 million shares …

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London Must Clarify How Far It Will Diverge from EU Financial Rules: EU Official

Britain must spell out how far it wants to diverge from European Union rules if it wants access to the bloc’s financial market from January, a top European Commission official said on Tuesday. Britain has left the EU and access …

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The Next Global Economic Threat Is an Aging Population: Opinion

While the world wrestles with a deadly pandemic and how to confront climate change, there’s another, long-term global challenge that no one really knows how to deal with: population aging. As the human race transitions from a burgeoning, exploding species …

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Slabbert Succeeds Clementi as Chief Executive Officer of MS Amlin Underwriting Ltd.

MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s re/insurer, announced the appointment of Johan Slabbert as chief executive officer. Slabbert will take up the role on Nov. 1, 2020, subject to regulatory approval. Slabbert succeeds Tom Clementi, who will step …

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Introducing: The Insuring Cyber Podcast

Although National Cybersecurity Awareness Month is coming to an end this week, cybersecurity remains an ongoing focus for insurers particularly as the COVID-19 pandemic has pushed many companies to transition to remote working. With this in mind, Insurance Journal is …

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Risk Strategies Acquires LaRocca & Associates of Florida

Risk Strategies, a privately held national insurance brokerage and risk management firm, has acquired LaRocca & Associates, Inc., a specialty brokerage with expertise in health and welfare benefits across several industries. Terms of the deal were undisclosed. Established in 1980, …

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The Plexus Groupe Acquires D.H. Tank Insurance in Illinois

The Plexus Groupe has acquired D.H. Tank Insurance Agency located in the Chicago suburb of Naperville, Ill. Founded in 1968, the Tank Agency is an independent insurance agency specializing in commercial property/casualty and personal lines with an expertise in marine …

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Twitter, Facebook, Alphabet Executives to Defend Liability Shield Before Senate

The chief executives of Twitter Inc., Facebook and Alphabet Inc. will tell U.S. lawmakers at a hearing on Wednesday that a federal law protecting internet companies is crucial to free expression on the internet, according to written testimonies from the …

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EPA Denies Ban, Permits Farmers’ Use of Dicamba-Based Weed Killers for Five Years

The U.S. Environmental Protection Agency said on Tuesday it will allow farmers to spray crops with weed killers based on the chemical dicamba that are sold by Bayer AG and other companies, after a U.S. appeals court blocked sales in …

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The Liberty Company Insurance Brokers Adds Foster in California

The Liberty Company Insurance Brokers has added Christine Foster to the Woodland Hills, Calif., office. Foster has more than 27 years of experience. She was previously with Foster & Associates She has also worked for Barney & Barney, and Geico. …

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Tyson Gets OK to Use Employees, Technology for Safety Inspections at Meat Plant

Tyson Foods said on Tuesday it plans in January to have company employees take on duties from more than a dozen federal inspectors at a large Kansas beef plant, after getting a U.S. government waiver. Tyson said the change would …

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El Paso Judge Imposes Curfew as Virus Cases Overwhelm Hospitals

Residents in the Texas border city of El Paso have been urged to stay home for two weeks as a spike in coronavirus cases overwhelms hospitals, prompting the state to dedicate part of the city’s civic center as a makeshift …

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Typhoon Molave Heads to Vietnam After Killing at Least 9 People in Philippines

Typhoon Molave killed at least nine people and left 13 others missing in the Philippines, according to disaster-response officials, before heading over to the South China Sea on its way to Vietnam. The storm affected more than 900,000 in the …

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Winds Fanned California Fires and Kept Thousands of Evacuees Away

Crews tried to beat back two out-of-control wildfires in Southern California on Tuesday that have kept tens of thousands of people out of their homes. Fierce winds that drove twin fires through brushy hills near cities in Orange County a …

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Oregon Vineyards Lose Lawsuit Against Nearby Cannabis Operation

Two Oregon wine grape growers have failed to convince a state judge their grapes would be marred by odors from a neighboring marijuana operation. Yamhill County Circuit Court Judge Cynthia Easterday ruled that Smera Vineyard and Maysara Winery haven’t met …

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Five Hospitalized After Factory Store Evacuated in Maine

Five people were hospitalized after a report of chemical exposure at a factory store in Skowhegan that led to the building’s evacuation on Thursday. The exposure led to the evacuation of the New Balance Factory Store, the Morning Sentinel reported. …

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Hanover Insurance Enters Maryland Personal Lines Insurance Market

The Hanover Insurance Group Inc. (THG) has expanded its business in Maryland to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. The Hanover has a presence in the …

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Ensurise Merges with Maryland’s American Heritage Insurance Agency

Independent insurance agency Ensurise LLC has merged with the property and casualty insurance brokerage operations of American Heritage Insurance Agency Inc. The merger was effective October 1, 2020. American Heritage Insurance Agency will continue to operate from its Eldersburg, Md., …

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Insurers Face Liability Uncertainties as Ships Begin to Sail Through Arctic Waters

When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower is needed to navigate. Lookout shifts are kept to just one hour, so sailors don’t lose concentration and …

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Pandemic Having LittIe Effect on Insurance Agency M&A Activity: OPTIS Partners

There were 170 announced insurance agency mergers and acquisitions during the third quarter of 2020 compared to 173 for the same period in 2019, according to a report from consulting firm OPTIS Partners. The Chicago-based firm said deal activity was …

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Lawsuit Alleges Uber Uses ‘Biased’ Rider Ratings to Fire Drivers

Uber Technologies Inc. was accused in a lawsuit of violating the U.S. Civil Rights Act by firing minority drivers based on how they’re rated by customers. “Uber is aware that passengers are prone to discriminate in their evaluation of drivers, …

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Goldman Sachs Denies Accusations of Attempted Cover-Up of Sexual Misconduct

Goldman Sachs Group Inc. attempted to cover up allegations of workplace sexual misconduct by the bank’s global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed. The lawsuit was filed by Marla Crawford, a …

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How Auto Workers Are Keeping Factories Running and Masks On

When the coronavirus pandemic slammed the United States in March, the Detroit Three automakers shut their plants and brought their North American vehicle production to an unprecedented cold stop. Now, four months after a slow and sometimes bumpy restart in …

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China’s Ping An Insurance Reports 7.74% Hike in Q3 Profit

Ping An Insurance Group Co of China Ltd on Tuesday reported a 7.74% rise in net profit, its first quarterly profit increase in a year, as the country’s largest insurer by market value attracted more retail customers. Net profit rose …

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Hurricane Zeta Makes Landfall in Mexico, Threatens U.S. Gulf Coast

Zeta strengthened to a hurricane as it bore down on the Mexican cities of Cozumel and Cancun, where it was forecast to dump heavy rain before turning north to threaten the U.S. Gulf Coast from Louisiana to Mississippi. The hurricane …

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Gantz Named Senior VP – Finance at Church Mutual in Wisconsin

Dwayne “Dewey” Gantz has joined Merrill, Wis.-based Church Mutual Insurance Co. as senior vice president – Finance, He reports to Kevin Root, executive vice president – Operations, and will collaborate with Jeff Steffen, current senior VP and CFO, who will …

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Miami Braces for More King Tides, Asks Residents to Report Floods Via App

The highest tides of the year, known as king tides, are here again to flood roads, parks and the occasional home or business. This year, in addition to the army of flood pumps coastal cities deploy to keep streets dry, …

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Study: Kansas Farmers Will Be Disproportionately Affected by Rising Temps

Growing corn and soybeans will become increasingly challenging for Kansas farmers as the climate warms, according to a recent Kansas State University study. The study found that drought and heat are currently the biggest reason for crop yield losses and …

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COVID-19 Aid Deadline Extended for Louisiana Fisheries Following Storms

Damage from Hurricanes Laura and Delta has prompted Louisiana to extend the deadline for fisheries’ workers and businesses to apply for help under a coronavirus pandemic program. Instead of ending on Oct. 26, the application period will now last through …

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MH Insurance Centre Deemed Agency of Year by Illinois Agents Group

The Independent Insurance Agents of Illinois (IIA of IL) has presented MH Insurance Centre LLC of Marion, Ill., with the IIA of IL Agency of the Year Award. The Agency of the Year Award is presented to an IIA of …

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Honda, Arizona Agree to $5M Settlement Over Air Bags

Honda has agreed to a $5 million settlement with Arizona over allegations that it failed to disclose defects in air bags that led to two deaths there, the state’s top attorney said. Attorney General Mark Brnovich announced the settlement over …

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Judge in California OKs $78M Settlement by Air Medical Company

A judge has given final approval to a $78 million settlement by a medical helicopter company that was sued by its California flight crew employees over unpaid overtime and missed breaks. The decision last week by Alameda County Superior Court …

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Workers’ Compensation Should See Profit This Year But Maybe Not in 2021: Fitch

Despite the economic challenges from the coronavirus pandemic, the workers’ compensation insurance market is likely to report strong profitability in 2020 thanks to savings from lower claims frequency due that are currently outpacing pandemic-related losses, according to Fitch Ratings. However, …

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Lawsuit Filed Against Montana Nursing Home for Negligence in Virus Deaths

A long-term care facility in Montana has been sued after health officials said its staff was negligent and allowed the coronavirus to spread through the facility in Whitefish earlier this year. The lawsuit has been filed by the estates of …

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Investors Shrug Off U.S. Concerns as China’s Ant Group Nears $34.4 Billion IPO

Chinese financial technology giant Ant Group has set terms for a dual listing aimed at raising up to $34.4 billion from the world’s largest stock market debut, with investors scrambling for a piece of the fast-growing company. The deal would …

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Some Alaskans Beyond Danger Received Tsunami Warning

Some Alaska residents received tsunami warnings on their cellphones following an earthquake earlier this week, including customers in the Anchorage area who were outside the potential danger zone. There was no concern over a tsunami reaching Anchorage, more than 500 …

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Power Outages in California as Winds Boost Fire Danger

Large swaths of California had no electricity Monday as utilities tried to prevent the chance of their equipment sparking wildfires while the fire-weary state was buffeted by powerful winds and dangerously dry weather conditions. About 300,000 power customers, more than …

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Virginia State Officials Lay Out Plan to Address Rising Seas

Virginia state officials have laid out a plan to protect the state’s coastal communities from sea-level rise that could inundate land and roads and threaten property in the decades ahead. Governor Ralph Northam joined other state and local officials on …

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Rhode Island Fines, Closes Four Bars Over Alleged COVID Violations

Rhode Island has fined and temporarily shut down four more bars over alleged violations of state rules meant to control the spread of the coronavirus, state health officials said Friday. State inspectors found various violations at the establishments, including remaining …

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Insureds Seeking COVID Premium Cuts Must Try State Regulator Before Court, Judge Rules

A federal judge has ruled that State Farm Fire and Casualty Co. does not have to return premiums to a small business customer because of the insured’s reduced business during the pandemic. The judge in Missouri found that the plaintiff, …

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Connecticut AG Wants Reimbursements for Poor Response to Power Outage

Connecticut’s attorney general asked regulators Wednesday to order reimbursements for utility customers who lost food and medicine during August’s dayslong power outage in the wake of Tropical Storm Isaias. Attorney General William Tong spoke as the Public Utilities Regulatory Authority …

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Canada’s Brookfield Business Partners to Buy Remainder of Insurer Genworth for $1.2B

Genworth MI Canada said on Monday real estate service provider Brookfield Business Partners will buy the remaining 43% stake it does not hold in the mortgage insurer for about C$1.6 billion ($1.21 billion). Brookfield, which owns about 57% of the …

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W.R. Berkley Says Rate Increases Averaging 14.5% Contributed to Solid 3Q Results

W.R. Berkley Corp.’s 2020 third-quarter financial results landed on the strong side despite a dip in net income and more COVID-19 losses, a result the company credits to rate hikes and underwriting discipline. The commercial lines specialty insurer and reinsurer …

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Coverys European Holdings Acquires Bridge Insurance Broker in Italy

Coverys European Holdings (CEH), an agency platform and network specializing in European markets, has completed the 100% acquisition of Bridge Insurance Broker S.R.L, a Lloyd’s wholesale broker and coverholder based in Lucca, Italy. Bridge provides a full suite of property, …

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Business Interruption Cyber Risks Demand More Insurer Attention as 5G Dawns

Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and its ongoing disruption …

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BP Evacuates Staff from 4 Gulf of Mexico Oil Platforms as Tropical Storm Zeta Intensifies

BP on Sunday said it has begun to evacuate four offshore U.S. Gulf of Mexico oil platforms and secure facilities as Tropical Storm Zeta sprang up in the Caribbean Sea. The 27th named storm of this year’s Atlantic Hurricane season, …

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Remote Workforce to Double in 2021 Due to Improved Productivity: CIO Survey

The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR). ETR in September …

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Mining Giants BHP, Vale Accused of Colluding to Cut Payouts to Victims of Dam Collapse

Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam …

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Big Tech Lobby Seeks EU Liability Cover to Tackle Hate Speech, Illegal Content

Big technology platforms are calling on the European Union to protect them from legal liabilities for removing hate speech and illegal content as government scrutiny over how platforms manage user posts grows worldwide. A safeguard protecting companies that actively manage …

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Australia’s Westpac Takes A$1.2B Charge Against Q2 Earnings for Laundering, Refunds

Westpac Banking Corp. has taken a A$1.2 billion ($871 million) charge against second-half earnings to cover a record money-laundering fine and the mounting cost of compensating customers for years of misconduct. The charge is the latest blow to Australia’s oldest …

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More Companies Turn to Captives as Rates Rise, Terms & Conditions Tighten

Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the coronavirus pandemic, companies are turning to in-house insurance firms. These so-called “captive” insurers are already common among large firms, with …

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Scott Benefit Services Expands Senior Living Practice in Southeast

Scott Benefit Services, a division of Scott Insurance, will expand its Senior Living Practice into additional markets in the Southeast region. The Senior Living Practice, led by Pim Jager, vice president and branch leader of the agency’s Richmond, Va. office, …

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Scientists Identify Nuclear Plants Facing Highest Risks From Earthquakes

The U.S. nuclear power reactors facing the highest risks of a meltdown from earthquakes are not in tremor-prone California, but states including South Carolina and Missouri, an analysis of government data published on Thursday said. The chances of an earthquake …

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McDonald’s Seeks Dismissal of Racial Bias Claims by Black Former Franchise Owners’

McDonald’s Corp. on Friday urged a U.S. judge to dismiss a lawsuit by dozens of Black former franchise owners who accused the fast-food giant of racial discrimination for selling them underperforming stores, saying it did not want them to fail …

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Oregon Contractor Fined for Multiple Job Safety Violations

Oregon OSHA has fined a general contractor in Roseburg more than $38,000 for multiple serious job safety violations, including repeatedly failing to follow the minimum requirements to protect workers from fall hazards that could reportedly kill them. The division cited …

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Amazon Injuries Could Spark Higher Workers’ Comp Rates for Fulfillment Centers

Injuries in Amazon.com Inc. warehouses could damage more than just the company’s reputation. They could start to hurt the e-commerce giant’s bottom line, as well. Washington state’s workplace safety regulator says workers in Amazon’s highly automated warehouses are injured at …

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Wrongful Death Suit Filed in California Over Woman Who Died After Ingesting Marijuana

The law firm CaseyGerry has filed a lawsuit in San Diego Superior Court on behalf of the parents of Le’Sharia Bre’Aun Steele, a 28-year old flight attendant from Alabama who died in San Diego, Calif. after reportedly consuming a KushyPunch …

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Ex-Blue Bell Creameries CEO Kruse Again Charged in Deadly Listeria Case

The former president of Blue Bell Creameries has been charged with wire fraud for allegedly trying to cover up a 2015 listeria outbreak linked to the company‘s ice cream that killed three people in Kansas and sickened several others, federal …

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Illinois Agents Association Names Brown & Brown’s Miano Agent of the Year

Brooke Miano with Brown & Brown of Illinois in Naperville, Ill., has been presented with the Independent Insurance Agents of Illinois (IIA of IL) Agent of the Year Award during the association’s annual convention, held virtually. The Agent of the …

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AIG Settles Foreign Tax Credit Dispute With U.S.

American International Group Inc. settled a case involving cross-border transactions the government claimed amounted to improper tax shelters. The insurer agreed to pay a 10% penalty and disallow more than $400 million in foreign tax credits as part of the …

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Safety Regulator Vows to ‘Closely Monitor’ New Tesla Self-Driving Software

The U.S. auto safety regulator said on Thursday it was closely watching Tesla Inc.’s release of a software version intended to allow its cars to drive themselves, saying it stood ready to protect the public against safety risks. Tesla on …

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Swiss Re Capital Markets Places $775M Cat Bond for California Earthquake Authority

Swiss Re Capital Markets has successfully structured and placed the issuance of USD $775 million of insurance-linked securities by Ursa Re II Ltd. to be used for the protection of the California Earthquake Authority. CEA reports more than 1 million …

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IRS Takes Aim at ‘Abusive Micro-Captive Practices’ with Another Settlement Offer

As the pandemic and rising insurance costs fuel greater interest by large firms in creating captive insurance organizations, the Internal Revenue Service continues to question small captive operations that it has long argued are tax avoidance vehicles and not valid …

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FCCI Insurance Group Writes First Policy in Pennsylvania

Sarasota, Fla.-based property and casualty insurer FCCI Insurance Group (FCCI) has written its first policy in Pennsylvania with the agency Babb Inc. This comes as September 2020 marks FCCI’s first month of operation in the state and reflects the company’s …

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Italy’s Tax Police Raid Offices of Generali in Probe About Insurance Contracts

Italy’s tax police raided the offices of state railway Ferrovie dello Stato (FS) and Generali to gather documents in a probe related to the awarding of contracts to the Italian insurer, a document seen by Reuters on Friday showed. A …

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Uber, Lyft Must Reclassify Drivers as Employees, Rules California Appeals Court

A California appeals court on Thursday unanimously ruled against ride-hailing companies Uber Technologies Inc. and Lyft Inc., saying they must reclassify their drivers in the state as employees. While the ruling does not take effect before a Nov. 3 company-sponsored …

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Pennsylvania Justices Review Priest Abuse Lawsuit’s Ruling on Time Limits

Pennsylvania’s highest court on Tuesday grappled with whether a woman’s lawsuit on claims of sexual abuse by a priest decades ago should be allowed to proceed – a lower-court ruling that has launched many other lawsuits since it was issued …

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Chubb Canada’s President Moore to Retire, Succeeded by Alfieri

Ellen Moore, the current president of Chubb Canada, has announced her retirement, which will take effect at the end of the year. She is succeeded by John Alfieri, Chubb’s current executive vice president, North America Major Accounts Field Operations, effective …

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Judge Rules New York City Crosswalks Fail to Protect Blind Pedestrians

Most crosswalks in New York City violate laws protecting people with disabilities by failing to properly protect blind and low-vision pedestrians, a judge ruled Tuesday. U.S. District Judge Paul A. Engelmayer in Manhattan said the city has violated three laws …

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Insurer to Appeal Restaurants’ Win in North Carolina COVID Business Interruption Case

A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Superior Court Judge Orlando F. Hudson Jr. ruled on Oct. 7 that closure …

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Everest Re Estimates Third Quarter 2020 Catastrophe Losses of $300 Million

Everest Re Group Ltd. is estimating pre-tax net catastrophe losses of $300 million for the third quarter 2020. The estimate includes the impact of Hurricanes Laura, Isaias and Sally, wildfires in California and Oregon, and other events including the Midwest …

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QBE Appoints Pryce as Interim Group CEO After Regan’s Forced Exit in September

QBE Insurance Group announced that will assume the role of interim group chief executive officer while the search process for a permanent replacement is underway. With Pryce assuming the role of interim group chief executive officer, Mike Wilkins will now …

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Bayer’s Monsanto Loses Final Appeal in French Farmer’s 2004 Weedkiller Accident

Bayer’s Monsanto division on Wednesday [Oct. 21] lost a final appeal in a long-running French legal battle in which the crop chemical maker has been held liable for the accidental inhalation of a weedkiller by a crop farmer. Monsanto had …

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Hurricane Epsilon Bypasses Bermuda and Heads into North Atlantic

Bermuda has been spared the worst of Hurricane Epsilon, which passed 200 miles to the east of the island and is heading , according to a report from Weather Underground. However, Epsilon’s large size, at times, brought some tropical storm …

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Top African Insurer Sanlam Refocuses on Home Market After 2018 Acquisition Misfires

Paul Hanratty, the new chief executive officer of Sanlam Ltd., is refocusing on the South African insurer’s home market and plugging holes from its largest-ever acquisition to squeeze higher returns out of its businesses. It’s been two years since the …

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Judge in North Carolina Favors Policyholders in COVID-19 Closure Lawsuit

A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business interruption lawsuit. Superior Court Judge Orlando F. Hudson Jr. ruled on Oct. 7 that …

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Washington Begin Develops Wildfire Smoke Worker-Safety Rules

The Washington Department of Labor & Industries is developing new workplace safety and health rules regarding wildfire smoke. The L&I announced the move this week in response to an increasing number of acres burned by wildfires in the state each …

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U.S. Consumer Agency Weighs Update of Rules on Access to Personal Financial Data

The U.S. Consumer Financial Protection Bureau (CFPB) on Thursday said it is seeking public comment on a proposal to modify rules governing the access and use of consumer financial data which is collected by a growing number of online financial …

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Walmart Sues U.S. to Clarify Pharmacy Liability in Opioid Crisis

Walmart Inc. said on Thursday it had filed a lawsuit against the federal government, seeking clarity on the roles and legal responsibilities of pharmacists and pharmacies in filling opioid prescriptions. Walmart said certain officials in the U.S. Justice Department are …

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Markel to Provide Excess Liability Capacity to Tangram Insurance Propane & Fuel Program

Tangram Insurance Services, Inc., a managing general agency, and Markel Corporation on behalf of its affiliated insurance companies have launched a program to provide excess liability capacity above Tangram’s current offering in the propane and fuel distribution niche. Tangram’s program …

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Argo Group Estimates $71M in Catastrophe, COVID Losses During Third Quarter

Argo Group International Holdings Ltd. announced that its results for the third quarter of 2020 will be adversely affected by estimated losses of $71 million related to various natural catastrophe events and the continued impact of the COVID-19 pandemic. The …

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Monitor: PG&E in California Prioritized Targets Over Reducing Wildfire Risk

PG&E Corp. prioritized meeting inspection targets over meaningful reduction of wildfire risk, according to a monitor overseeing the utility’s program of trimming trees and vegetation that pose a threat of igniting devastating blazes in California. Among the court-appointed compliance monitor’s …

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AM Best’s Estimates for U.S. Insurers’ Asbestos & Environmental Losses Unchanged

AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S. property/casualty industry remain unchanged as of year-end 2019. In a report, AM Best notes that A&E loss reserves have declined …

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Golden Bear in California Upgraded by AM Best

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Golden Bear Insurance Co. in Stockton, Calif. The outlook of these ratings has been revised …

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Talanx Acquires Italian Non-Life Insurer Amissima

The Talanx Group, the Hanover, Germany-based insurance group, announced it is expanding its business in Italy by making a bolt-on acquisition, via its Italian subsidiary. HDI Assicurazioni, a subsidiary of HDI International AG, Talanx Group’s Retail International Division, is buying …

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EPA Permit May Curb Phosphorous Discharge from New Hampshire Fish Hatchery

A new federal water permit for a New Hampshire fish hatchery that has been accused of polluting local waterways could cut the amount of phosphorous the hatchery can discharge in half. The permit for the Powder Mill Fish Hatchery, in …

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Eastern Insurance Group Acquires Assets of Massachusetts’ Auburn Insurance Agency

Eastern Insurance Group LLC, a wholly owned subsidiary of Eastern Bank, has acquired the assets of the Auburn Insurance Agency Inc., a full-service, family-owned insurance agency based in Natick, Mass. Founded in 1982 by President Janice Ryan, Auburn Insurance specializes …

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Dick Insurance Agency, Merrimack Financial Services Announce New Hires

Dick Insurance Agency, along with sister company Merrimack Financial Services, both of Tewksbury, Mass., have announced four new hires. Matthew Keefe joins Dick Insurance Agency and Merrimack Financial Services as a licensed account executive and debt management consultant. Prior to …

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Self-Driving’s Latest Turn: GM’s Cruise Seeks OK for Cars Without Steering Wheel, Pedals

Self-driving car maker Cruise said on Wednesday it and majority shareholder General Motors Co. would seek U.S. regulatory approval in coming months to deploy a limited number of Cruise Origin vehicles without steering wheels or pedals. At the same time, …

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Hurricane Epsilon, 10th of Season, Expected to Approach Bermuda Tonight

Hurricane Epsilon, the 10th of this very busy Atlantic season, was moving toward Bermuda on Wednesday. Epsilon is expected to make its closest approach to the island on Thursday night, and there is a risk of a direct impact, according …

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Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to Support Mutuals

Asta, the third-party managing agent at Lloyd’s, announced the Council of Lloyd’s granted in-principle approval for the launch of Picnic Syndicate PIC 2460, a syndicate-in-a-box (SIAB). Picnic will commence underwriting on Jan. 1, 2021, subject to completion of the Lloyd’s …

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China’s Ant Group Wins Final Nod from Securities Watchdog for $35B IPO

China’s Ant Group has won the final nod from the country’s top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion dual-listing. Ant, the fintech company …

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Insurers Drop Appeal Against UK Court Ruling on 3 COVID Business Interruption Policies

Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to the brink of collapse by the COVID-19 …

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North Carolina Agency Owner Sentenced to 5.5 Years for $400K Loan Scheme

A North Carolina insurance agent has been sentenced to 5.5 years in prison in federal court after being found guilty of orchestrating a $400,000 fraudulent loan scheme involving insurance premiums, according to the U.S. Attorney for the Western District of …

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MJ Insurance Names BridgePoint’s Sargent Director of Personal Insurance in Arizona

MJ Insurance has named Leighann Sargent director of personal insurance. Sargent is based in Phoenix, Ariz., and will lead MJ’s personal insurance strategy, operations and support the company’s growth. Sargent comes to MJ from BridgePoint Risk Management, where she served …

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FCC Says It Has Authority to Change Social Media Liability Shield

The top lawyer at the U.S. Federal Communications Commission (FCC) said Wednesday the telecommunications regulator has legal authority to redefine the immunity shield protecting social media companies that could make it easier for users to file lawsuits challenging content removal …

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California Trucking Firm Owners Charged in Alleged $450K Workers’ Comp Fraud

Trucking company owners Hardip Singh, 44, and Amandeep Kaur, 36, were charged this week with multiple counts of insurance fraud after allegedly misclassifying employees as independent contractors in a scheme to underreport payroll by more than $1.4 million, resulting in …

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1 in 4 Businesses Has Experienced Cyber Event, Travelers Survey Finds

Nearly one in four respondents (22%) out of more than 1,200 business leaders surveyed in 2020 Travelers’ Cyber Risk Index said their firm was the victim of a cyber event – the highest percentage since the annual survey began in …

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California Electrician Sentenced for Defrauding Workers’ Comp Providers, Employers

Michael Ray Williams, 37, of Daly City, Calif., was sentenced to 60 days in county jail and three years formal probation after pleading no contest to two felony counts of insurance fraud after illegally working for multiple employers while simultaneously …

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Cryptocurrency Exchange Bitstamp Adds Lloyd’s-Backed Crime Insurance Policy

Bitstamp, a cryptocurrency exchange, has expanded the insurance offered to its customers with an additional crime insurance policy. The crime insurance policy is offered by specialist insurance brokers, Paragon International Insurance Brokers in coordination with Woodruff Sawyer, and underwritten by …

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USI Insurance Services to Acquire Findley of Tennessee

USI Insurance Services has entered into a definitive agreement to acquire Nashville, Tenn.-based Findley, Inc. Subject to customary closing conditions, including regulatory approvals, the transaction is expected to close in November 2020. Founded in 1969, Findley is an independent human …

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North Carolina Insurance Magnate Begins Prison Term

A North Carolina insurance magnate and prolific political donor has started serving a federal prison sentence for corruption-related convictions. Greg E. Lindberg was in custody on Tuesday at a minimum-security prison in Montgomery, Alabama, according to Scott Taylor, a spokesman …

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Purdue Pharma to Plead Guilty, Pay $225M Over Opioid Practices; Critics Balk at Terms

Purdue Pharma LP agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidestepped paying billions of dollars in penalties and stopped short of criminally charging …

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1 Killed, Another Injured in Minnesota Construction Accident

One person was killed and another critically injured Friday when a construction truck boom fell near Litchfield, Minn., according to the Meeker County Sheriff’s Office. The Star Tribune reports the accident occurred at 11:46 a.m. at a construction site in …

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Dell Sued in Dallas for Violation of Equal Pay Laws

Texas-based Dell Inc. violated federal law by paying lesser wages to a female IT analyst than it paid to a male employee performing work that required substantially equal skill, effort and responsibility, according to a recently filed federal lawsuit. According …

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Munich Re Reports €800M of COVID-19-Related Losses During Q3

Munich Re reports approximately €800 million (US$935 million) in COVID-19-related losses in reinsurance during the third quarter. The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health …

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California Could See More Fire-Prevention Power Shutoffs

Electricity may be shut off to 50,000 Northern California utility customers this week to try to prevent power lines from sparking and igniting new wildfires during a predicted new round of gusty, hot and dry weather. Customers in parts of …

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Mexico Government Could Absorb Some Liabilities Arising from COVID-19 Vaccine

Mexico’s government could absorb some liabilities arising from unexpected side effects of COVID-19 vaccines but is not considering creating a fund to do so, a top official said. As various vaccine candidates make their way through different stages of clinical …

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RSG Underwriting Managers Names Wuller Executive Vice President

Ryan Specialty Group (RSG) announced the appointment of Miles Wuller as executive vice president of RSG Underwriting Managers, the managing underwriting division of Ryan Specialty Group that provides centralized governance, shared services, executive leadership and oversight to its specialty underwriting …

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Election Security: Retailers Board Up Stores Amid Fear Over More Civil Unrest

This time last year, shoppers on Chicago’s Magnificent Mile were waiting for Louis Vuitton to debut its whimsical holiday window decorations. Now those same windows are hidden behind a wall of wood panels painted bright orange. While still open for …

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Getting Digital Currency Right More Important Than U.S. Being First, Says Fed’s Powell

In any development of a cross-border digital currency, it is more important for the United States “to get it right than be first,” U.S. Federal Reserve Chair Jerome Powell said on Monday. “We do think it’s more important to get …

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Nearly 50% of UK Firms Less Prepared for Brexit Because of Coronavirus: Survey

About half of UK firms are less prepared for Brexit compared to last year due to the impact of the coronavirus pandemic, a sign of Britain’s vulnerability to disruption when it quits the European Union’s single market and customs union …

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Target to Enhance Safety at 200 Northeast U.S. Stores in Department of Labor Settlement

The U.S. Department of Labor has executed a region wide corporate settlement agreement with Target Corp. to correct exit access and storage hazards and enhance worker safety at about 200 of the retailer’s stores in Connecticut, Massachusetts, New Jersey and …

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World Insurance Associates Acquires Virginia’s Hampton Insurance Agency

World Insurance Associates LLC (WIA) has acquired Hampton Insurance Agency LLC of Hampton, Va., on October 1, 2020. Terms of the transaction were not disclosed. Hampton Insurance is a property and casualty insurance agency serving personal and commercial clients throughout …

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Insurtech Vouch Insurance Expands Coverage to New York

Vouch Insurance, a business insurance platform for startups, has expanded its coverage into New York. The expansion is an effort to bring risk mitigation to local startups as they scale their technologies, according to a Vouch Insurance press release. Vouch …

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After Helping Shepherd Pandemic Loans, Banks Now Brace for Regulatory Risks

Banks that facilitated the U.S. government’s Paycheck Protection Program at first saw the effort as a small revenue booster with a patriotic bonus, shepherding $525 billion in loans to businesses slammed by the fallout of the COVID-19 pandemic. But as …

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Chubb Names Forman from Swiss Re as Casualty Manager for UK and Ireland

Chubb announced the appointment ofAlex Forman as casualty manager for the United Kingdom and Ireland (UK&I). In this role, Forman will be responsible for the profitability and growth of Chubb’s UK&I casualty portfolio with product line oversight of all casualty …

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As Employees Have Stressed Out During Pandemic, Many Employers Have Stepped Up

The coronavirus pandemic has put millions of Americans out of work. But many of those still working are fearful, distressed and stretched thin. A quarter of U.S. workers say they have even considered quitting their jobs as worries related to …

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Brokerslink Expands Global Network with Affiliates in Central America, APAC and Africa

Global broking business, Brokerslink, has continued the expansion of its global network with three new affiliates from Africa, Central America and Asia-Pacific further demonstrating its multinational capabilities and commitment to supporting the growth and development of independent broking. The new …

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Applied Underwriters Sues California Over ‘Bad Faith’ Insurer Conservatorship Plan

Workers’ compensation specialist Applied Underwriters is suing California Insurance Department officials to halt a state plan its says would force its workers’ compensation partner California Insurance Co. (CIC) to stop doing business in the state and would damage Applied Underwriters’ …

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COVID-19 Crisis Accelerates Labor Shift from Humans to Robots: WEF Survey

Robots will destroy 85 million jobs at mid-sized to large businesses over the next five years as the COVID-19 pandemic accelerates changes in the workplace likely to exaggerate inequalities, a World Economic Forum (WEF) study has found. Surveys of nearly …

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Hiscox Appoints Former Hamilton Executive Reardon as CEO of Hiscox Re & ILS

Hiscox Ltd., the international specialist insurer, announced the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS, subject to regulatory approval. Reardon succeeds Mike Krefta, who, as announced in August, will be stepping down in early 2021. Most …

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Drunk Driving Arrests in Alabama County Spike During Pandemic

A spike in drunk driving cases in an Alabama county has led to speculation that the stresses associated with the coronavirus pandemic may be behind the increase. Morgan County sheriff’s spokesman Mike Swafford said his department made 43 DUI arrests …

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The Main Street America Group Rebrands, Expands Commercial Offering

The Main Street America Group, a U.S. provider of property-casualty insurance through independent agents, has unveiled a new name and brand – Main Street America Insurance. The brand refresh was announced in conjunction with product expansion in the company’s commercial …

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Burns & Wilcox Adds Personal Lines Cyber Protection for Homes, Families, Individuals

Burns & Wilcox has launched Cyberman365, a new exclusive product line designed to mitigate personal cyber risks for individuals, families and homes. A collaboration between Burns & Wilcox and Node International, Cyberman365 provides personal cyber protection for the entire household, …

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New Mercury Insurance Programs Target California Homeowners’ Wildfire Risk

Mercury Insurance has launched two new programs designed to help Californians better protect their homes and families if they live in areas prone to wildfires. Homeowners who take one or more steps to either harden their homes against wildfires or …

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Ratings of Texas’ Hallmark Financial Removed from Under Review with Negative Implications

AM Best has removed from under review with negative implications and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” and the Long-Term Issue Credit Ratings (Long-Term IR) of Hallmark Financial Services Inc. (Hallmark Financial), headquartered in Dallas. Concurrently, …

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Disneyland Unions Tell California Governor Resort Can Be Reopened Safely Despite Virus

Unions representing over 10,000 Disney theme park workers have told California Gov. Gavin Newsom that the Disneyland Resort in Anaheim, Calif., can safely reopen when its location moves into the state’s “orange tier” of COVID-19 test positivity and adjusted case …

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Survey Finds 78% of Risk Managers Now Buying Cyber Insurance

The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase some level of cyber insurance — compared to only 34% in 2011. Of this record of 78% with some cyber …

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Enstar Offers $34.50 per Share for Watford Holdings, Surpassing Arch Capital’s Bid

Watford Holdings Ltd.’s board of directors announced they are considering an acquisition offer of $34.50 per share from Enstar Group which it said could be a “superior proposal” to the recent offer from Arch Capital Ltd. for approximately $622 million, …

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Man Accused of Tampering with Pizza Dough Held Without Bail

A man accused of putting razor blades in pizza dough sold at a supermarket in Saco, Maine, has been ordered held without bail. Nicholas Mitchell, 38, made his first court appearance on Friday after his extradition from New Hampshire, where …

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Second Search of Virginia Blast Site Finds No More Victims

Fire officials have completed another search of the site of a weekend explosion and fire in Harrisonburg, Va., and determined there are no additional victims, the city announced Sunday night. An explosion rocked a strip mall Saturday morning, followed by …

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BenefitMall Adds Poli as Mid-Atlantic Market Director Based in Maryland

BenefitMall, a provider of next-generation broker services, has added Robert Poli as the new Mid-Atlantic market director. Bringing more than 30 years of experience in the health insurance industry, Poli will report to Barb Taylor, regional vice president of the …

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Battery Fires Make Headlines As Electric Vehicle Sales Take Off

First, Hyundai Motor Co. made headlines about its electric cars catching fire. Five days later, it was General Motors Co. and Ford Motor Co. The next day, it was BMW AG. Vehicles going up in flames aren’t new to the …

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Travelers Reports Strong 3Q with Profit More Than Doubling

The Travelers Companies had a strong third quarter, reporting net income grew to $827 million, up from $396 million in the prior year quarter. An increase in the quarter’s core income to $798 million compared to $378 million in the …

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Tropical Storm Epsilon Grows in Strength as It Heads Toward Bermuda

Tropical Storm Epsilon has formed in the central Atlantic and will move northwest, probably growing into a hurricane as it nears Bermuda late this week. Epsilon’s winds have reached 40 miles (64 kilometers) per hour southeast of Bermuda, the U.S. …

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Startup Personal Lines Insurer Root Looking to Raise $604 Million in IPO

Automobile insurance startup Root Inc. said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq, the latest in a line of insurers looking to tap the current boom in U.S. …

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HDI Global Specialty Enters German Fine Art, High Net Worth Market with Hire from AXA

HDI Global Specialty SE is entering the German Fine Art and high net worth insurance market with the appointment of Dr. Alexander Wiebe from AXA. He joins the specialty lines insurer as head of Fine Art & Lifestyle Continental Europe, …

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Post-Brexit Reality: Europe Will Still Need London for Finance and Business – Opinion

Brexit could one day give the European Union an opportunity to challenge the City of London’s dominance as a global financial hub. Right now, however, the EU is in no condition to take advantage. As talks on Britain’s future relationship …

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Japan to Take Countermeasures to Prevent Cyber Attacks from Derailing Tokyo Games

Japan said on Tuesday it would take countermeasures to ensure next year’s Tokyo Olympics are not derailed by cyber attacks after Britain and the United States accused Russia of orchestrating efforts to disrupt the Games. Olympics organizers reported no significant …

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4 Accused of Staging Louisiana Big Rig Crash Settle for $4.7M

Four people have been charged in what prosecutors say was a staged wreck that was settled for $4.7 million. The indictment brought the total to 32 people accused of faking accidents with tractor-trailers to get insurance money, federal prosecutors in …

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Dean of S.C. Law School Apologizes for Emailing Private Student Bar Results

The dean of South Carolina’s largest law school is apologizing for forwarding an email that contained the names of students who failed the exam to become a lawyer and the confidential bar exam grades of every student. University of South …

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Sompo International Adds D&O Coverage for Public Companies to MAP Platform

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has launched a new directors and officers liability insurance policy form for publicly traded companies. Sompo International’s public D&O product is the latest addition to …

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Report: Cost of Damage from August Midwest Windstorm Up to $7.5B

Damage estimates from a rare windstorm that slammed Iowa and some other parts of the Midwest in August are growing, with the total now at $7.5 billion, according to a new report. The Aug. 10 storm hit Iowa hard but …

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South Carolina School District Faces $3M in Repairs from Mold Damage

Officials for a South Carolina school district say it could cost up to $3 million to fix damage and prevent the future spread of mold that was discovered in two buildings. Construction workers found the mold from high water activity …

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Halloran to Lead New PointeNorth Management & Executive Liability Practice

PointeNorth Insurance Group, LLC (PNIG), an independent insurance agency in the Southeast, has launched a management & executive liability practice to help businesses prepare and proactively manage executive liability exposures. Product offerings include but are not limited to: Directors & …

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Midwest Farmers Receive Record Federal Aid, Crop Insurance Payments Under Trump

U.S. President Donald Trump is assuring a bumper year for farmers as the Nov. 3 election approaches, with record government subsidies projected to make up more than a third of farm income in 2020. The aid programs could be key …

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CDC Issues ‘Strong Recommendation’ for Mask-Wearing by All in Travel Settings

The U.S. Centers for Disease Control and Prevention on Monday issued a “strong recommendation” that all passengers and employees on airplanes, trains, subways, buses, taxis and ride-share vehicles should wear masks to prevent the spread of COVID-19. The interim guidance …

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Trump EPA Saves Coal Plants Millions With Delay on Coal Ash Pond Closures

The Trump administration will let some leaking or otherwise dangerous coal ash storage ponds stay in operation for years more and some unlined ponds stay open indefinitely under a rule change announced last Friday. The move by the Environmental Protection …

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3 Workers Injured in Riceland Rice Plant Blast in Arkansas

Three Riceland Rice employees were injured, none seriously, in an explosion at a Riceland plant in Stuttgart, Ark., according to company spokesperson Kevin McGilton. The employees suffered minor injuries that were not life-threatening in the Thursday blast that damaged the …

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Nebraska to Hold Flood Insurance Manual Workshop for Insurance Agents on Oct. 29

The Nebraska Department of Insurance is planning brief, one-hour, biannual workshops for insurance agents each October and April to discuss the changes in the Flood Insurance Manual. The first such workshop will be held on Oct. 29. The department said …

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Minnesota Trucking Firm to Pay $165K to Settle Federal Retaliation Lawsuit

A Minnesota-based transportation company will pay $165,000 and furnish other relief to settle a retaliation case, federal officials say. The Equal Employment Opportunity Commission (EEOC) sued Stan Koch & Sons Trucking Inc. after the company refused to rehire a former …

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Major Disaster Declaration Approved for Louisiana

The Trump Administration has approved a major disaster declaration for Louisiana, making federal assistance available to supplement state and local recovery efforts after Hurricane Delta. President Donald Trump’s action makes federal funding available to affected individuals in Acadia, Calcasieu, Cameron, …

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Houston Arson Investigator, Arson Suspect Fatally Shot

An arson investigator and an arson suspect were killed during a shootout early Friday in Houston after the investigator pursued the suspect, city police and fire officials said. Investigator Lemuel Bruce, 44, died at a hospital where he was taken …

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Oregon Gas Station Sued for Allegedly Denying Service

A Black man who said he was prohibited from buying gas by a white gas station attendant in Oregon has filed a $350,000 racial discrimination lawsuit against the station. Dominique DeWeese said in the lawsuit filed Wednesday that he asked …

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Light Earthquake Confirmed in Alaska’s Largest City, No Damage

A light earthquake shook Alaska’s major population center, but there were no reports of damage, the Alaska Earthquake Center confirmed. The magnitude 4.0 earthquake shook Anchorage and nearby communities, including Wasilla about 50 miles north in a neighboring borough, on …

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New Mexico Lawmakers Say Farmers Shortchanged on Disaster Aid

New Mexico’s congressional delegation is calling for more oversight of a federal agency after some farmers and ranchers were shortchanged on disaster aid and Hispanic farmers who rely on traditional acequias to irrigate their crops have been told they’re ineligible …

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Several Injured in Blast, Fire at Virginia Shopping Center

Officials said an investigation was underway into the cause of an explosion and large fire at a shopping center in Harrisonburg, Virginia, Saturday morning that injured several people. Three people were hospitalized as a result of the incident that was …

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CRC Group Sets New Leadership Roles for Brennan, Kessler As Helveston to Retire

National wholesaler insurance broker CRC Group announced changes to the company’s senior leadership team effective January 1, 2021. Ron Helveston currently CEO, Commercial Solutions, is retiring and will be succeeded by Mike Brennan, who is currently president, Commercial Solutions. In …

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Richmond Diocese to Pay $6.3M to Sexual Abuse Victims

The Catholic Diocese of Richmond announced Thursday that it is paying $6.3 million to 51 people who experienced sexual abuse as minors by clergy. The diocese released details in a report on its website. In February, Bishop Barry Knestout directed …

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Alera Group Acquires Massachusetts’ Gordon Atlantic Insurance Agency

Alera Group has acquired Gordon Atlantic Insurance Agency, effective October 1, 2020. Gordon Atlantic joins Alera Group through local firm Sylvia Group. The Gordon Atlantic team will continue serving clients in their existing roles. Terms of the transaction were not …

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Aspen Taps Hiscox’s Rai as Head of Claims for Aspen Ins. UK, Aspen Managing Agency

Aspen Insurance Holdings Ltd. has appointed Tony Rai as head of claims for Aspen Insurance UK (AIUK) and Aspen Managing Agency Ltd. (AMAL). Rai will join Aspen in early 2021 from Hiscox, where he has been head of London market …

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Pandemic Amplified Security Gaps for Public Sector Cyber Officials

While the pandemic has highlighted the resilience of public sector cyber officials, it has also called attention to chronic challenges facing state information technology organizations including securing adequate budgets and talent, and coordinating security steps across agencies, a new report …

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Insurance Losses for April’s Queensland Hailstorms Estimated at A$604M: PERILS

The insurance industry’s loss footprint for the April 2020 Central Queensland hailstorms is estimated at A$604 million (US$423.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. During the first three months following the event …

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Employees Reporting Harassment Suffer Retaliation for Complaining: Time’s Up Study

Three years into the #MeToo movement, there may be more awareness around workplace sexual harassment. But a new report finds that almost three-quarters of people reporting such harassment suffer from retaliation if they complain. More than 7 out of 10 …

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BHSI Introduces D&O Liability, Professional Indemnity Policies in Dubai, Middle East

Berkshire Hathaway Specialty Insurance (BHSI) announced it has developed proprietary directors & officers (D&O) liability and professional indemnity (PI) policy wordings for customers in the UAE and throughout the Middle East. “Companies in the Middle East are increasingly concerned about …

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Vast Majority of COVID-19 Workers’ Compensation Claims Are Small, Says NCCI

If COVID-19 behaves like other workers’ compensation lung and disease claims, about two out of 100 cases may result in some degree of permanent partial disability and one out of 5,000 may result in permanent total disability, according to a …

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Bank of England to Require Company Disclosures on Climate Risks

Current rules on company disclosures to help markets price in risks from climate change will become mandatory, a senior Bank of England official said on Friday. It is the latest push in the financial sector to harmonize standards globally so …

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UK Data Protection Watchdog Slaps Biggest-Ever Fine on British Airways

Britain’s data protection watchdog said on Friday it has fined British Airways 20 million pounds – its biggest such penalty to date – for failing to protect data that left more than 400,000 of its customers’ details the subject of …

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UK Should Adjust Rules for Financial Services to Stay Competitive After Brexit: Study

Britain should tweak financial rules after full Brexit to keep London’s financial hub competitive and deepen ties with growth markets in Asia, a think tank said in a study on Monday. Britain accounted for nearly a third of financial activity …

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North Carolina-Based Curi Taps Sandner as Next CEO

Curi—a provider of professional liability and other lines of insurance, as well as services for physicians—has appointed Jason Sandner as its next chief executive officer. Sandner will take the helm on July 1, 2021, when current CEO Dale Jenkins steps …

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What P/C Insurance Industry Can Expect If Biden Wins or If Trump Is Re-Elected

If Republican President Donald Trump wins re-election, the property/casualty insurance industry is not likely to see much change from the status quo. If Democrat Joe Biden wins the presidency, however, the P/C insurance industry can expect a flurry of legislative …

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Commissioner: Oklahoma Completes First Insurance Business Transfer in U.S.

The District Court of Oklahoma County has approved Providence Washington Insurance Company (PWIC) to complete its Insurance Business Transfer (IBT) Plan, making it the first such transfer in the United States, according to Oklahoma Insurance Commissioner Glen Mulready. The Oklahoma …

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Louisianans Warned of Contractor Fraud Following Dual Hurricanes

Louisiana Insurance Commissioner Jim Donelon and State Representative Jonathan Goudeau are warning residents affected by Hurricanes Laura and Delta that both the Louisiana Department of Insurance and Rep. Goudeau’s office have received complaints of contractors working in hard-hit areas requesting …

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Las Vegas Resort Sued Over 2019 Fatal Shooting of Armed Man

The family of an armed man shot and killed by security guards in a suburban Las Vegas casino-resort last year is suing. The Las Vegas Review-Journal reported that the son of 53-year-old Shannon Howell filed a wrongful death lawsuit last …

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California Heat Wave Prompts Power Shutdowns, Wildfire Danger

More than 50,000 California utility customers were without power and others around the state were urged to conserve electricity Thursday amid a fall heat wave that brought another round of extreme wildfire danger. The National Weather Service issued heat advisories …

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CUNA Mutual Acquires Digital Consumer Lending Platform CuneXus

CUNA Mutual Group is expanding its digital capabilities by acquiring CuneXus, an online and mobile lending platform. CUNA Mutual Group became an early-stage investor in CuneXus through its venture capital entity, CMFG Ventures, in 2017. Terms of the transaction were …

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Grocery Chain Slow to Report Tampering at One of Its Maine Stores

It took two months for a supermarket chain to alert police and customers about the discovery of razor blades in fresh pizza dough sold at one if its stores in Maine, a newspaper reported. Product tampering at a store in …

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Maryland Auto Insurance Launches New Auto Insurance Fraud Initiative

Maryland Auto Insurance has launched an initiative aimed at combatting auto insurance fraud in Maryland. This comes as the FBI projects insurance fraud accounts for more than $40 billion in costs annually, according to a Maryland Auto Insurance press release. …

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New York’s NFP Hires Pendergast to P&C Division as Senior Vice President

NFP, a New York, N.Y.-headquartered insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions, has hired Andrew Pendergast to its P&C division as senior vice president. In this role, Pendergast will lead the …

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Malpractice Claims Against Hospitals Hold Steady But Severity Increases

The frequency of hospital professional liability claims is holding steady, but the cost of those claims is expected to increase by 3% next year, according to an actuarial analysis by Aon and the American Society of Health Care Risk Management. …

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Amerisure’s Crabb Elected Chair of Insurance Trade Group APCIA

The American Property Casualty Insurance Association of America (APCIA) elected new officers, effective January 1, 2021. Greg Crabb, president and CEO of Amerisure Companies, was elected as APCIA’s chair. Crabb joined Amerisure in April 2008 as chief administrative officer with …

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AXA Completes €1B Sale of in Central, Eastern Europe Business to UNIQA

AXA said that it has completed the sale of its life and savings, property and casualty, and pension businesses in Poland, Czech Republic and Slovakia to Austria’s UNIQA Insurance Group AG for a total cash consideration of Euro 1.0 billion. …

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New Unicorn Wealthsimple Plans Insurance, Mortgage Products Buildout Before IPO

Fresh off achieving a $1 billion valuation, Wealthsimple Inc.’s top executive says the firm has more work to do before pursuing an initial public offering. The online investment company, which on Wednesday announced a new funding round that raised C$114 …

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France Plans €20 Billion in State-Backed Loans to Avoid Small Firm Failures

France plans to raise 20 billion euros ($23 billion) in quasi-equity loans for small firms hit by the coronavirus crisis by offering investors a state guarantee against the first 2 billion euros in losses, officials said. Fearing failures among firms …

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FCC Chief Vows to Advance New Social Media Company Liability Rules

Federal Communications Commission chairman Ajit Pai said Thursday the agency will move forward to set new rules to clarify the meaning of a key legal protection for social media companies. The announcement came as Republicans expressed anger over Twitter Inc.’s …

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California Permits GM’s Driverless Car to Cruise Streets of San Francisco

The race for driverless autonomous vehicles is heating up and on Thursday Cruise became the first to receive a permit to test cars without anyone in them on the streets of San Francisco from California’s Department of Motor Vehicles. Cruise, …

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Insurance Acquisition Completes Shift Auto Retailer Deal; IPO Launches

Shares of Shift Technologies Inc. fell 6.7% in their Nasdaq debut on Thursday after the online used-car seller went public through a reverse-merger deal with blank check firm Insurance Acquisition Corp. Shift shares were trading at $10.86 in morning trade, …

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MGA DUAL Plans to Use Its Own Underwriting Capital Alongside Capacity Providers

DUAL, the London-based managing general agency, announced it will deploy its own group underwriting capital alongside its existing capacity providers. “This is a game-changing moment for DUAL. Now, by providing capital to DUAL, we move to the next stage of …

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INSTANDA Launches Cyber Insurance Product in Africa

INSTANDA, the customer and policy management platform for the insurance industry, has launched its first African insurance market product on its platform with newly onboarded client, Standard Bank South Africa. INSTANDA said it has worked closely with Standard Bank Insurance …

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Lack of Clarity on Liability Could Cause Delay with WHO Coronavirus Vaccine Drive

BRUSSELS – Who foots the bill if people in poor countries fall sick with unexpected side-effects from coronavirus vaccines? It’s not clear and that’s a big problem in the battle to beat COVID-19. The World Health Organization (WHO) has so …

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What 3Q Catastrophe Losses Mean for U.S. P/C Results

Driven by an elevated frequency of events during the quarter, third quarter natural catastrophe losses for the U.S. property/casualty insurance industry will be the largest since the third quarter of 2017, according to Fitch Ratings. Fitch said the (re)insurers it …

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Employers Asked to Reveal Data to Test Their Diversity Pledges

More data disclosure will help investors, employees and customers judge the pledges many American companies have made to diversify their workforces and boardrooms, activists and analysts said on Tuesday. Companies should release specific information such as on the racial backgrounds …

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