Insurers Looking Into Rise in Lawsuits Against Firms Over Lack of Diversity

U.S. insurers are taking a closer look at the recruiting and succession practices of corporate customers, worried about mounting lawsuits over a lack of diversity among top executives and directors, industry sources said. Insurers are meeting company officials to examine …

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Hyundai, Kia To Pay $210 Million U.S. Penalty for Failure to Recall Autos

Hyundai Motor Co. and Kia Motors’ U.S. units on Friday agreed to a record $210 million civil penalty after U.S. auto safety regulators said they failed to recall 1.6 million vehicles for engine issues in a timely fashion. The U.S. …

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Liquidation Requested for Texas Nonstandard Auto Insurer, ACCC

An application for an order of liquidation has been filed in a Travis County, Texas, district court for a Houston-based nonstandard auto insurer now in receivership. With the agreement of its board of directors, ACCC Insurance Co. was placed into …

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Recorded Texas Surplus Lines Premium Rose to $629.53 Million in October

The Surplus Lines Stamping Office of Texas (SLTX) recorded $629.53 million in Texas surplus lines premium during the month of October. The premium recorded year to date through October represents a 13.8% increase over the same period in 2019, according …

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Rawlins to Succeed Moore as President, CEO at Missouri’s Shelter Mutual Insurance

The Shelter Insurance, based in Columbia, Mo., has named Randa Rawlins as president and CEO, effective Jan. 1, 2021. Rawlins will succeed current President and CEO Matt Moore, who will retire in June 2021. Upon Mr. Moore’s retirement, Rawlins will …

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Michigan Car Insurance Fee for Medical Coverage to Go Down Again

Michigan drivers who want unlimited personal injury protection benefits will pay $86 per vehicle starting next summer, down from $100 currently. The fee was mandatory for decades but became optional beginning in July under a change in state law. The …

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Tornado Causes Damage, Injuries in Arlington, Texas

A pre-Thanksgiving Day tornado swept through parts of the Dallas-area city of Arlington on Nov. 24, damaging several apartment complexes and other buildings, displacing 75 families and causing minor injuries to three people, officials said. The Arlington Fire Department said …

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Montana Nursing Home Lawsuit Adding More Claims

A lawsuit against a long-term care facility in Whitefish, Mont., has been amended to add claims that it was part of a multi-state network of facilities that enriched corporate owners while residents received negligent care. The lawsuit was initially filed …

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New Mexico Cracking Down on Drunken Drivers

New Mexico authorities will be cracking down on drunken drivers throughout the month of December. State police issued the warning this week, saying sobriety checkpoints will be set up around the state. Officers also will be asking for driver’s licenses, …

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Minor Earthquake Reported in Massachusetts

A minor earthquake was registered Sunday in Massachusetts in roughly the same area where a more significant one struck earlier this month, the U.S. Geological Survey said. The agency’s National Earthquake Information Center reported a magnitude 2.0 earthquake about five …

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Maryland’s Westminster American Insurance Company Hires Whelan

Westminster American Insurance Company (WAIC) has hired David Whelan as vice president of underwriting. In this new role, Whelan brings 31 years of commercial lines experience to the team. He joins WAIC from GNY Insurance Companies, where he was a …

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HGTV’s ‘Property Brothers’ Sign With American Family Insurance as Spokesmen

American Family Insurance has chosen home renovation duo Drew and Jonathan Scott, the twin stars of HGTV’s “Property Brothers,” as the company’s newest brand ambassadors. The Scott brothers and American Family “share a passion for the places we call home. …

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Arthur J. Gallagher & Co. Acquires Pennsylvania’s JP Warner Associates

Arthur J. Gallagher & Co. has acquired Wayne, Penn.-based JP Warner Associates Inc., doing business as Warner Benefits. Terms of the transaction were not disclosed. Founded in 1997, JP Warner Associates is a traditional employee benefits consultant with offices in …

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Trials Delayed, Cases Pile Up as Too Few Jurors Volunteer Amid Coronavirus

Jury duty notices have set Nicholas Philbrook’s home on edge with worries about him contracting the coronavirus and passing it on to his father-in-law, a cancer survivor with diabetes in his mid-70s who is at higher risk of developing serious …

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Independent Film Productions Shut Down as Virus Insurance Is Hard to Find

For independent filmmakers, the Covid-19 pandemic has added a new hurdle to the already challenging task of lining up financing: finding insurance to cover virus-related interruptions. Lenders are demanding it, and it’s tough to get. So tough, in fact, that …

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Aviva in Talks to Sell Units in France, Poland and Italy, CEO Confirms

Aviva Plc Chief Executive Officer Amanda Blanc confirmed the company was in talks to sell units in France, Poland and Italy as part of her overhaul of the insurance giant. The company is still in the “early stages for considering …

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Latest Tesla Safety Probe Involves 115,000 Vehicles Over Front Suspension

The U.S. National Highway Traffic Safety Administration (NHTSA) on Friday said it had opened a formal investigation into around 115,0000 Tesla vehicles over a front suspension safety issue. The auto safety regulator said it was opening a preliminary evaluation into …

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Q&A on Mental Health Issues Among Employees and How AI Might Help

We are all familiar with the challenges of 2020, but we may still be underestimating how deep and wide they go. Seven in 10 employees say this has been the most stressful year of their working lives, according to a …

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Ant Group’s Massive, Suspended IPO May Not Be Revived Until 2022

The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to regulatory officials familiar with the matter. Ant …

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Lloyd’s Gets Nod to Transfer European Policies to Lloyd’s Europe in Time for Brexit

Lloyd’s, the world’s leading insurance and reinsurance market, has received final approval from the High Court of England and Wales to transfer policies in the European Economic Area to Lloyd’s Insurance Co. SA (Lloyd’s Europe), with its registered office in …

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HDI Global Specialty Renews Agreement with German MGA AMANIKI

HDI Global Specialty SE has announced the renewal of its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. The agreement also sees AMANIKI move from a co-insurance panel of capacity providers to a 100% exclusive binder with HDI …

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Ki Syndicate 1618 Binds 1st Risk with AmWINS’ Broking Unit THB

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced it has bound its first risk with THB, the International broking arm of global specialty wholesale broker, AmWINS Group Inc. The risk was bound by Ki on its Lloyd’s …

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AXA Sells Persian Gulf Business for $269 Million to Kuwaiti-Based Group

AXA SA sold its Persian Gulf business for $269 million to a Kuwait-based group, as the French insurance giant shifts its focus and exits some overseas investments to shore up its finances amid the coronavirus pandemic. The Paris-based insurer said …

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Vienna Insurance Bolsters Position in E. Europe with Purchase of Aegon Unit

Vienna Insurance Group AG bolstered its position as the biggest insurer in central and eastern Europe by agreeing to buy Aegon NV’s business in the region and in Turkey for 830 million euros ($990 million), outbidding NN Group NV and …

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Europeans Buy Older Cars to Avoid Public Transport During Pandemic

LONDON/MADRID – Want a cheap used car to nip around town without running the gauntlet of coronavirus on public transport? Welcome to Pandemic Motors, we have just what you need. Across Europe, people are snapping up old bangers, clunkers, Klapperkasten, …

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Insurers Winning Most, But Not All, Covid-19 Business Interruption Lawsuits

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since Covid-19 sparked government-ordered shutdowns in March, judges have dismissed more …

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Meatpacking Plants Linked to Up to 8% of Early U.S. COVID Cases

As many as one in 12 cases of Covid-19 in the early stage of the pandemic in the U.S. can be tied to outbreaks at meatpacking plants and subsequent spread in surrounding communities, according to a study. The findings highlight …

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COVID-19 Vaccines Could Be Sent to States Within 24 Hours of FDA’s OK: Official

The first Americans could receive a COVID-19 vaccine as soon as Dec. 11, the chief scientific adviser for the U.S. government’s vaccine program said on Sunday. “Within 24 hours from the approval, the vaccine will be moving and located in …

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Home Depot to Pay $17.5 Million to Settle With States Over 2014 Data Breach Claims

Home Depot Inc., the largest U.S. home improvement retailer, on Tuesday reached a $17.5 million settlement to resolve a multistate probe into a 2014 data breach where hackers accessed payment card data belonging to 40 million customers. The settlement with …

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Third Point Re and Sirius Group Get Shareholder Nod for $788M Merger

Third Point Reinsurance Ltd. and Sirius International Insurance Group Ltd. announced that their respective shareholders have voted to approve the merger of the two companies. Specialty reinsurer Third Point Re, and Sirius International Insurance Group, a multi-line insurer and reinsuer, …

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SCOR CEO Expects Double-Digit Reinsurance Rate Hikes in January Renewals

Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and chief executive of the French reinsurer SCOR, said on Wednesday. SCOR, one of the world’s largest reinsurers, has …

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Rawlins to Become President, CEO of Shelter Mutual as Rawlins Retires

The Shelter Insurance board of directors announced that Randa Rawlins would become Shelter Mutual Insurance Co.’s next president and CEO. At a meeting on Nov. 19, 2020, the board elected Rawlins to become president, effective Jan. 1, 2021, in anticipation …

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University of Pennsylvania Vows $100M to Fix School Building Hazards

The University of Pennsylvania has announced that it will contribute $100 million to the School District of Philadelphia over the next decade to deal with environmental hazards such as asbestos and lead in school buildings. Officials said the contribution of …

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Pennsylvania House Votes to Impose Fees on Electric Cars

Motorists who register an electric vehicle in Pennsylvania would have to pay an annual fee, under lame-duck session legislation approved by the state’s Republican-controlled House of Representatives on Thursday. The bill, backed by a 132-70 vote, goes to the Senate …

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Best Agency to Work for East: Stanton Insurance Group

While Stanton Insurance Group (SIG) is in the business of providing insurance for cars, homes and businesses, President David W. Stanton says the agency is also about much more than that. “As a local business, we have a responsibility to …

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Hippo Gets $350M Investment, Reinsurance Cover From Mitsui Sumitomo

Hippo Enterprises, an MGA insurtech focused on homeowners insurance, secured a $350 million capital investment designed to help fuel further growth. A related reinsurance agreement is also part of the deal. Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD …

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Best Agency to Work For Southeast: Darr Schackow Insurance

There were many reasons that employees of Florida-based Darr Schackow Insurance nominated their employer as a Best Agency to Work For this year, including its work in the communities it serves and how hard it works for its customers. But …

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Debris Leaks Out from Cargo Ship on Georgia Coast During Removal

Debris is washing up from a cargo ship stranded on the Georgia coast as a salvage team cuts it into chunks. The leaks are not unexpected as salvagers demolish the Golden Ray, a South Korean ship that overturned in St. …

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Death of West Virginia Miner Marks 6th US Coal Mining Fatality of 2020

A coal miner died Monday in a workplace accident in southern West Virginia, the governor’s office said. Taylor Meldin Halstead, 20, of Bob White, was killed in the accident at Panther Mining LLC’s American Eagle Mine in the Kanawha County …

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South Dakota Law Officers Sue to Overturn Pot Legalization Vote

Two South Dakota law enforcement officials want the courts to overturn a citizen-approved constitutional amendment legalizing marijuana in the state. The Argus Leader reports Pennington County Sheriff Kevin Thom and South Dakota Highway Patrol Superintendent Rick Miller filed a lawsuit …

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Trucks Keep Striking Missouri Overpass, Again and Again

Despite the warning signs and flashing lights, trucks just can’t seem to stop hitting a Kansas City, Missouri, overpass. The Kansas City Star reports that the bridge on Independence Avenue is struck so often that it has its own satirical …

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Schumacher to Lead Midwest Underwriting, Sales at Frankenmuth Insurance

Frankenmuth Insurance in Frankenmuth, Michigan, has added Rich Schumacher as regional director for the Midwest Region. Schumacher brings 28 years of experience in the industry, most recently serving as associate vice president of sales for Harleysville/Nationwide Insurance where he worked …

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Crest Insurance in Arizona Adds Sunbelt’s Bouve as Commercial Broker

Crest Insurance Group LLC of Scottsdale, Ariz., has added Taylor Bouve as a commercial broker. Bouve has more than six years of experience in insurance. He was previously an account executive at Sunbelt Insurance Holdings LLC, and was with Zenefits …

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Woodruff Sawyer in California Adds Pearson to Launch Family Office & Trustee Liability Group

Woodruff Sawyer in San Francisco, Calif., has named Judith Pearson to launch The Family Office & Trustee Liability Resource Group. Pearson educates individual and institutional trustees and other fiduciaries to identify and reduce risk as well as provide solutions to …

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Best Agency to Work For: Upshaw Insurance Agency

One of the things the employees of Upshaw Insurance in Amarillo, Texas, say they like best about their agency is its caring spirit — not only in regard to the employees themselves but to the communities they serve. Founded in …

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Safety Group Lists Its Top 10 ‘Worst’ Toys of This Holiday Season

Cute plastic animals with tiny accessories that pose a choking hazard, Black Panther-inspired claws with the potential to cause facial or eye injuries, and green slime that could be harmful if swallowed: These are just some of the items on …

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Best Agency to Work For West: The Buckner Co.

Words like “fair,” “ethical, and “accommodating,” may not top a list of words you’d think would energize workers, but there was no shortage of enthusiasm found in comments from employees who heaped praise on The Bucker Co. in Salt Lake …

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Travel Insurance Surges Along with Coronavirus This Thanksgiving

U.S. websites have seen a surge in travelers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks. Data from insurance comparison website Squaremouth …

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Best Agency to Work For Midwest: Korotkin Insurance Group

Korotkin Insurance Group (KIG) in Southfield, Michigan, may be more than 100 years old, but it’s definitely not stagnating and that’s a definite plus, according to those who work there. With 55 employees and annual revenues in the $1 million …

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Lawsuit: Nebraska Meatpacking Plant Did Not Protect Workers from Virus

A Nebraska meatpacking plant has been accused in a lawsuit of failing to take adequate precautions to protect workers from the coronavirus. The American Civil Liberties Union filed the federal lawsuit on Nov. 23 against Noah’s Ark Processors in Hastings, …

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Louisiana Ag Commissioner Pushing Farmers, Ranchers to Apply for Virus Aid

Louisiana’s agriculture commissioner is urging the state’s farmers and ranchers to turn in their applications for federal coronavirus assistance ahead of next month’s deadline, and he’s worried some who are eligible may be missing out on available aid. The U.S. …

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Usage-Based Insurer Metromile to Become Public Company

Metromile Inc., the pay-per-mile auto insurer, has reached a deal to go public by merging with Insu Acquisition Corp. II (Insu II), a special purpose acquisition company (SPAC). The merger will result in Metromile becoming a publicly listed company without …

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Minnesota Fraud Bureau: Insurance Fraud Referrals Up in 2019 but not for Agents

While Minnesota insurance regulators saw an uptick in the number of fraud case referrals during 2019, agent and broker fraud referrals were down significantly that year, the most recent for which insurance fraud statistics for the state are available. In …

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Finnis Named a Central Region VP at Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance (BHSI) has named Lauren Finnis vice president, Customer & Broker Engagement, for the Central Region, based in Chicago. She was previously vice president of Customer & Broker Engagement for the Eastern Region. Finnis has more than …

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Zywave Acquires Insurance Technologies Corporation (ITC)

Insurance technology provider Zywave announced the acquisition of Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and services to the insurance industry. Zywave said the acquisition enables it to deliver operations, sales and marketing solutions …

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Colorado Outfitter Sues Former Guide, Claims ‘Trade Secrets’

Stephen Bass approached Andy Sovick last year with a plan for writing a guide to snowmobile-access skiing around one of the most popular backcountry destinations in Colorado: Buffalo Pass near Steamboat Springs. Bass, a ski patroller at Utah’s Powder Mountain …

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Carnival’s Princess Cruise Lines Must Face Passengers’ COVID-19 Lawsuit

Carnival Corp.’s Princess Cruise Lines Ltd. failed to persuade a judge to dismiss negligence claims by 17 passengers who allege they suffered COVID-19 symptoms after being exposed to the coronavirus on a February voyage. Monday’s ruling doesn’t address the merits …

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COVID Passports Could Speed Up Revival of International Travel

Global airline lobby IATA is working on a mobile app that will help travelers demonstrate their coronavirus-free status, joining a push to introduce so-called COVID passports to speed up the revival of international travel. The Travel Pass will display test …

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Former Virginia Attorney Indicted on Multiple Fraud Charges

A federal grand jury has indicted a former Virginia attorney on charges that she defrauded elderly clients out of money which she used to buy real estate and make charitable donations, prosecutors said. Cherie Anne Washburn, 44, of Lynchburg, Virginia, …

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COVID-19-Related Data Breach Affects Thousands in Delaware

Public health officials in Delaware on Sunday disclosed that the personal information of thousands of people who were tested for the coronavirus this summer was mistakenly shared with an unauthorized individual. The state’s Division of Public Health said the data …

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Best Agency to Work For East: Deland, Gibson Insurance

At Deland, Gibson Insurance, being a lifelong learner isn’t just a hobby, it’s part of the agency’s core values held by all employees. And agency employees say access to resources and education, as well as a constant drive for improvement, …

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Swiss Re Corporate Solutions Hires Allianz’ Baacke as Head of Risk Engineering Services

Swiss Re Corporate Solutions appoints Tina Baacke as global head Risk Engineering Services, effective Jan. 1, 2021. In this role, Baacke will be responsible for leading a global team of experts that provides ri sk knowledge, data insights, tools and …

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Cigna’s CEO and Board Sued for ‘Black-Ops Style’ Tactics to Kill Merger with Anthem

Cigna Corp.’s chief executive officer and board used “black-ops style” tactics in a covert campaign to “blow up” a $48 billion merger with rival insurer Anthem Inc., Cigna investors claim in a lawsuit. A Massachusetts-based pension fund alleges that Cigna …

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UK Insurer Aviva Sells Stake in Italian Life Unit for $475 Million

Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80% holding in …

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Best Agency to Work For Southeast: Fisher Brown Bottrell Insurance

Opportunities for growth, a team-oriented culture and unwavering support during an unprecedented situation are just some of the reasons that employees of Fisher Brown Bottrell Insurance, Inc. nominated their employer as a Best Agency to Work For. The Insurance Journal …

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Pork Producer Smithfield Settles Nuisance Lawsuits in N.C. as Court Affirms Verdict

A federal appeals court on Thursday upheld a 2018 jury verdict that led to awarding monetary damages to neighbors of a North Carolina industrial hog operation for smells and noise they said made living nearby unbearable. But judges ruled the …

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Thanksgiving Fowl Play? No Problem. Whole Foods, Progressive Offer ‘Turkey Insurance’

It’s clear that insurance touches many aspects of people’s lives. The holiday season alone can present all kinds of insurance risks. There’s pumpkin patch liability insurance to protect pick-your-own patches against any safety risks. Christmas tree lot insurance shields owners …

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States Prepare Second Antitrust Lawsuit Against Google for December

A bipartisan group of U.S. states plans to file an antitrust lawsuit against Google as early as next month, according to two people briefed on the matter, potentially beating a more widely anticipated lawsuit from a different group of states …

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Best Agency to Work For Midwest: DSP Insurance Services

Always do what’s best for the customer. That’s one of the guiding principles at Schaumburg, Ill.-based DSP Insurance Services that employees cited over and over again in 2020 Insurance Journal’s Best Agencies to Work For survey as a reason why …

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Eberl in Colorado Names Morris Vice President of Sales

Lakewood, Colo.-based Eberl Claims Service has named Phillip Morris vice president of sales. Morris has more than 14 years of sales, marketing, claims-handling and insurance-industry experience. Previous workplaces include ThePowerMBA, Syndicate Claim Services Inc., the Hanover Insurance Group and Allstate …

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Best Agency to Work For West: Liberty Company Insurance Brokers

The Liberty Company Insurance Brokers Inc. in Woodland Hills, Calif., offered the perfect Hollywood ending for founder Bill Johnson. Johnson started the brokerage fresh out of college in 1987, then took a break to get into the film industry with …

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Best Agency to Work For South Central: INSURICA

With nearly six hundred employees and annual revenues of $115 million, Oklahoma City-based INSURICA may be a large agency with offices around the country but its employees still say that being at work is like being with family, albeit an …

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California Electrician Arraigned in $63K Workers’ Comp Scheme

Mark Redheffer, 48, of Fontana, Calif., was arraigned on felony counts of insurance fraud and attempted perjury after allegedly lying and concealing information in a workers’ compensation claim to receive more than $63,000 in temporary disability benefits from his employer, …

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Vallejo $750K to End Lawsuit Over Police Beating

A handyman who was left bloodied after he was beaten and choked by Vallejo police will receive $750,000 from the city, it was announced Friday. The San Francisco Bay Area city agreed Thursday to settle a civil rights lawsuit filed …

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Hamilton Launches New Bermuda Special Purpose Insurer Called ‘Ada Re’

Hamilton Insurance Group Ltd. announced the launch of Ada Capital Management Ltd., a Bermuda-regulated insurance agent authorized to underwrite on behalf of Ada Re, a new Bermudian special purpose insurer. Ada Re has successfully secured capital commitments and, subject to …

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Kemper to Pay $370M for Specialty Insurer Focused on Hispanic Market

Kemper Corp. has agreed to pay $370 million in cash for specialty auto insurer American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings. Driving the deal: Growth potential among Hispanic and other niche markets. Plans …

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BMS Names Madell as Director in New Financial Lines Division

BMS Group, the independent specialist re/insurance broker, announced the appointment of Chris Madell as director in BMS’ new Financial Lines division, effective immediately. Madell will be based in London, reporting to Ian Gormley, managing director of the BMS Global Risks …

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Ping An’s Goal to Pivot from Finance Group to Tech Giant Is Now Threatened

The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one. While …

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Theater at Renowned Jacob’s Pillow Dance Center in Massachusetts Burns Down

A fire at the renowned Jacob’s Pillow dance center in Massachusetts destroyed a theater building, but no one was hurt. The fire at the Doris Duke Theatre was reported at about 7 a.m., Becket Fire Chief Paul Mikaniewicz told The …

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Connecticut Town Officials Charged in Probe of Hazardous Waste Dumping

Five former or current officials of Fairfield, Connecticut, are among several people who have been arrested in connection with the illegal dumping of hazardous materials next to the town’s public works garage and efforts to hide the extent of the …

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Huge Vestas Wind Turbine Collapses in Northern Sweden in Rare Accident

A 230-meter tall wind turbine built by Vestas Wind Systems A/S collapsed at a site in northern Sweden over the weekend. The cause of the accident is unknown and the company is assembling a team that will investigate at the …

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Johnson & Johnson to Pay $120 Million in NY Baby Powder Case

Johnson & Johnson has been ordered by a New York state judge to pay $120 million in damages to a Brooklyn woman and her husband, after she blamed her cancer on asbestos exposure from using the company’s baby powder. Justice …

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Best Agency to Work For East: William A. Smith & Son Insurance

Not all insurance agents are created equal. At least that’s what William A. Smith & Son Insurance states on its website, a claim that serves as a testament to the agency’s mission of serving clients and employees through strong communication …

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Praedicat Develops Insurance Tool for COVID-19 Liability

Praedicat, the Los Angeles-based liability emerging risk modeling firm, has developed an insurance tool for the casualty insurance market, which allows insurers to track exposures, establish reserves, and manage aggregations in the face of this generation’s largest emerging risk, the …

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Digital Lloyd’s Syndicate Ki Goes Live with List of Broker Trading Partners

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced the onboarding of its first trading partners to its proprietary digital platform, providing access to its algorithmic underwriting in readiness for writing business from Jan 1. Ki said it …

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UK Finance Minister Is Optimistic About Brexit Deal – But Not at Any Price

British finance minister Rishi Sunak has said there is genuine progress in Brexit talks with the European Union, but that it would be better to walk away from a bad trade deal than tie Britain’s hands in the future. Sunak, …

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New Insurance Group Inigo Raises $800M of Capital; Founded by Former Hiscox Execs

Inigo Ltd., a new London-based insurance group, announced it has completed a capital raise of approximately $800 million from a consortium of global investors comprising (among others) funds controlled by Caisse de dépôt et placement du Québec (CDPQ), Enstar, J.C. …

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5 Leaders Promoted at SECURA Insurance in Wisconsin

SECURA Insurance, based in Neenah, Wis., has promoted five company leaders: Amy DeHart, senior vice president and chief actuary; Dan Ferris, chief legal officer; Tripp Humston, regional vice president–Sales; Tim O’Brien, vice president–controller; and Brett Purcell, regional vice president–Sales. The …

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Best Agency to Work For Midwest: The Starr Group

“I LOVE working for this business. I look forward to working each day!!!” It’s not every day that you hear an employee of any given business say that, but it’s exactly what one respondent to Insurance Journal’s 2020 Best Agencies …

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Best Agency to Work For Overall: RightSure Insurance Group

From standup comedy and acting gigs to selling insurance – not the typical career path for the everyday independent agency owner but that is how Jeff Arnold, founder of RightSure Insurance Group, this year’s winner of Insurance Journal’s Overall Best …

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Best Agency to Work for West: Wood Guttman & Bogart

The phrase “truly cares” truly gets thrown around a lot, but it is being used so often by employees at Wood Gutmann & Bogart Insurance Brokers that it was impossible to write off as a mere cliché. “WGB truly cares …

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Best Agency to Work for South Central: G&G Independent Insurance

The team at G&G Independent Insurance in Fayetteville, Ark., is young, ambitious, motivated, and passionate about providing innovative, exceptional service to their customers. And they love where they work. G&G Independent Insurance was selected as Insurance Journal’s Gold Best Agency …

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America’s Best Agencies to Work For

The votes are in for the 2020 Best Independent Insurance Agencies to Work For. While 2020 has been an unusual year for agency employees – many of whom have worked remotely for months – the pressures that have come with …

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The Liberty Company Insurance Brokers Adds Cuevas to Florida Office

The Liberty Company Insurance Brokers has added Mike Cuevas to the firm’s Ft. Lauderdale, Fla., office. Cuevas has more than 30 years of experience with previous stops at Coastal Premier and Van Ameringen’s Insurance. Cuevas has worked with clients in …

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Zurich in Talks to Acquire MetLife Unit for $4 Billion

Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people familiar with the matter. Zurich Insurance issued a statement …

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Judge Declines to Halt Michigan’s Recent Ban on Indoor Dining

A judge on Nov. 20 declined to halt a three-week ban on indoor dining in Michigan that is one of the most recent coronavirus restrictions imposed by Gov. Gretchen Whitmer’s administration. The state health department, meanwhile, reported a new daily …

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Health Officials Hope New Coronavirus Contact Tracing Apps Attract More Users

A new wave of mobile apps that help track exposure to the coronavirus is coming to U.S. states ahead of the holidays as public health officials bet that recently introduced features from Apple Inc. and Alphabet Inc.’s Google will significantly …

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Chief Actuary Antonello to Be Next CEO of Employers Holdings

Small business workers’ compensation insurance specialist Employers Holdings Inc. has named Katherine H. Antonello as its president and chief executive officer. She will take over upon the retirement of Douglas D. Dirks on April 1, 2021. Dirks will be retiring …

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Aon Hires Marsh’s O’Donnell as Client Director in PFI and Infrastructure Team

Insurance broker Aon plc announced that Karen O’Donnell has been appointed as a client director within its Private Finance Initiative (PFI) and Infrastructure team, a specialist practice that sits within Aon’s Construction division within the Global Broking Centre. O’Donnell will …

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Insurtech Blink Launches Non-Damage Business Interruption Parametric Solution

Irish insurtech Blink has launched a hurricane non-damage parametric insurance solution which provides liquidity to small and medium-sized businesses in the immediate aftermath of a natural disaster. Called “Blink Interruption,” the product aims to cut average business interruption claims processing …

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Hudson to Acquire Pennsylvania’s Allegheny Group and Its Surety Operations

Specialty insurer Hudson Insurance Group has agreed to acquire the Allegheny Group Inc. (AGI) and its subsidiaries from its private shareholders. Hudson, by acquiring Pennsylvania-based AGI, will own Allegheny Surety Co., a Pennsylvania insurance company, and Allegheny Surety Agency, the …

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South African Insurer Santam to Appeal COVID-19 Business Interruption Ruling

JOHANNESBURG – Santam on Friday it will appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s claim related to the coronavirus lockdown. Like insurers around the world, Santam has been battling with …

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UK Hasn’t Compromised Enough for Brexit Trade Deal as Deadline Looms, EU Warns

The European Union warned that the UK hasn’t moved sufficiently to overcome the three main obstacles to a post-Brexit trade deal as three of the bloc’s leaders called for contingency plans to be stepped up in case one isn’t reached. …

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Swiss Re Confirms Financial Targets Despite Pandemic

Reinsurance company Swiss Re said it was committed to a stable or increasing dividend as it confirmed its financial targets on Friday despite the coronavirus pandemic that has pressured the industry. The reinsurer has swung to a loss in the …

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Lawmakers Aim to Ensure UK Financial Services Stay Competitive Globally After Brexit

Britain’s lawmakers launched an inquiry on Friday aimed at ensuring its financial services remain globally competitive after the country’s full departure from the European Union next month. “We’ll make a series of recommendations for how the government, public bodies and …

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Road Paving Companies to Pay West Virginia $101.3M Over Antitrust Violations

West Virginia officials announced a $101.3 million settlement last month in an antitrust suit against 11 asphalt and paving companies the state accused of cornering the market and driving up project costs. “We’re ending sweetheart deals all across West Virginia,” …

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3 Weeks Later, Alabama Awaits Federal Relief for Zeta Damage

More than three weeks after Hurricane Zeta barreled across the Southeast and left destruction in its wake, Alabama is still waiting on a federal disaster declaration and the emergency relief that comes with it, according to state and federal agencies. …

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Kentucky Aims to Slow Virus Spread with New Restrictions on Restaurants, Events

Bidding to slow surging coronavirus cases and deaths in Kentucky, Gov. Andy Beshear announced new restrictions Tuesday on in-person gatherings at restaurants, schools and event venues. “I don’t take this lightly – I know this will cause some more harm …

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Kentucky AGC Self-Insurers’ Fund to Return $18.5M In Dividends, Decrease Rates

The Kentucky Associated General Contractors Self-Insurers’ Fund, a workers’ compensation insurance provider in the state of Kentucky, will return more than $18.5 million, including special fund tax reimbursement, in dividends to qualifying members in March of 2021. The board of …

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Crest Insurance in Arizona Promotes Baldwin to Senior Vice President

Crest Insurance Group LLC of Scottsdale, Ariz., has promoted Yvonne Baldwin to senior vice president of personal lines. Baldwin joined the firm in 1984 following her time with Mueller and Associates. Crest has offices in throughout Arizona as well as …

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Allstate Hires Only Banks Owned by Minorities, Women, Veterans for Big Bond Sale

Allstate Corp. hired solely banks owned by minorities, women or veterans for its bond sale, in the biggest corporate deal yet managed only by diverse firms. The insurer enlisted Loop Capital Markets, Academy Securities, Samuel A. Ramirez & Co., Siebert …

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Tyson Suspends Meat Plant Managers Accused of COVID Betting Pool

Tyson Foods Inc. said it has suspended managers at an Iowa meatpacking plant accused in lawsuits of betting on how many workers would be infected in a Covid outbreak earlier this year. More than 1,000 of the 2,800 employees at …

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Flint, Michigan Water Lawsuit Settlement Rises to $641M

The proposed settlement of a lawsuit filed on behalf of residents of Flint, Michigan, who were harmed by lead-tainted water now totals about $641 million, officials revealed on Nov. 18. The lawsuit was the result of workers following state environmental …

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Aon Targets M&A Market with Intellectual Property Assessment Offering

Insurance broker Aon has launched the Quality of Intellectual Property (QoIP) Solution that is designed to help companies receive higher transaction value by specifically articulating the quality of the seller’s IP portfolio in the M&A and capital markets. QoIP is …

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Workers at North Dakota Company Go on Strike over COVID-19 Safety Concerns

About 70 drivers and warehouse workers at a Fargo, N.D., food distributor have gone on strike because they don’t believe the company is doing enough to protect them from exposure to COVID-19. Members of Teamsters Local 120 walked a picket …

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Missouri Couple Wins $4M Wrongful Death Suit Against Gun Dealer, Manufacturer

The parents of a Kansas City, Mo., man who died in a 2016 shooting have been awarded $4 million in a wrongful death lawsuit against a man who trafficked in firearms, as well as a gun dealer and manufacturer. Court …

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Study: St. Louis Mask Mandates Cut Virus’ Spread

Mask mandates in St. Louis and St. Louis County slowed the spread of the coronavirus this summer when compared to neighboring counties that didn’t require face masks, a Saint Louis University study found. The study compared infections in St. Louis …

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Louisiana Issues Hurricane Zeta Data Call

Louisiana is seeking information from property/casualty insurers in the state about the impact of Hurricane Zeta. This latest data call from the Louisiana Department of Insurance is the third hurricane-related data call this year. The department said insurers must submit …

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Insurance Executives Seek More Diversity in Executive Ranks

When Jerald Tillman and Mike James started their careers more than 20 years ago, working in the U.S. insurance industry was not on their radar, but programs to attract Blacks and other minorities brought them into the fold. Today, Tillman …

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Massachusetts’ Sayata Labs Hires Reardon, Regilio

Sayata Labs has hired Mat Reardon as business development manager for the East Coast and Tim Regilio to manage West Coast activities also as business development manager. Reardon will manage all current and prospective partner relationships on the East Coast. …

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Mobile Home Owner Files Lawsuit Stemming from Maine Blast

The owner of a mobile home park and other residences has filed a lawsuit against companies and a nonprofit group connected to the 2019 fatal propane explosion in Maine. The Farmington explosion killed fire Capt. Michael Bell and injured seven …

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RLI Corp. CEO Michael to Retire in 2021; Kliethermes Will Replace Him

Property/casualty specialty insurer RLI Corp. said current CEO Jonathan Michael is retiring at the end of 2021, and RLI Insurance President and Chief Operating Officer Craig Kliethermes will succeed him. Michael’s official retirement day is Dec. 31, 2021, which will …

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Berkshire Hathaway Specialty Promotes Rootenberg, Scully to Claims Leadership

Berkshire Hathaway Specialty Insurance (BHSI) announced a pair of promotions in its Executive & Professional Lines Claims group, naming Shelby Rootenberg as senior vice president, head of U.S. Commercial Lines (Public) and Financial Institutions Claims, and Megan Scully as senior …

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Transportation Chief, Car Makers Say FCC’s Wi-Fi Ruling Undermines Auto Safety

The U.S. communications regulator on Wednesday approved a plan to allow a growing number of wireless devices to use part of a spectrum previously set aside for automakers to develop methods for vehicles to communicate with each other, a decision …

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General Motors to Sell Use-Based Auto Insurance Through Onstar

General Motors Co. on Wednesday launched an auto insurance program with the help of its OnStar subsidiary, joining a growing field of companies hoping to cash in on the vast amounts of data generated by increasingly automated and connected cars. …

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Roberts Appointed as Global Renewable Energy Leader, Marsh JLT Specialty

Marsh, the insurance broker and risk adviser, announced the appointment of Hamish Roberts as global renewable energy leader, Marsh JLT Specialty. Effective 1 January, Roberts will continue to be based in London and will report to Andrew George, global head, …

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HSB Canada Launches ‘Sensor Systems by HSB’ to Help Cut Commercial Water Claims

HSB Canada, part of Munich Re, has introduced “Sensor Systems by HSB,” a turnkey solution to help insureds reduce common property claims. The program monitors, predicts and alerts customers to risk events associated with water leaks, pipe freezing and critical …

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AXA XL Promotes Harris to Head of Energy, UK & Lloyd’s Market

AXA XL Insurance announced that Nicola Harris has been promoted to head of Energy, UK & Lloyd’s market. In her new role, Harris is responsible for developing the UK energy book, executing strategy and designing innovative insurance solutions for AXA …

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Canada’s Intact Financial Caps Decade of Acquisitions with $9.4 Billion RSA Deal

After a decade of buying up rivals to become Canada’s largest property and casualty insurer, Intact Financial Corp. is looking across the Atlantic with its biggest deal yet. Intact sealed an agreement Wednesday to buy the Canada, UK and international …

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Global COVID-19 Insurance Losses to Be Higher than Early Estimates: Lloyd’s Chairman

Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …

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Etier Appointed Assistant VP at Dwight Andrus Insurance

Dwight W. Andrus Insurance Inc. in Lafayette, La., has appointed Brandt Etier as assistant vice president of Property and Casualty Sales. Etier began his insurance career with Dwight Andrus Insurance in 2010, where he serves as a commercial lines sales …

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Homeowners of America Insurance Expands into Illinois

Homeowners of America Insurance Co. (HOAIC), an Irving, Texas-based property/casualty insurance provider, is now offering its insurance products in the state of Illinois. HOAIC President and CEO Spencer Tucker said the move marks HOAIC’s “first entry into the Midwestern market.” …

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How Lloyd’s Underwriters Are Viewing Todays’ Casualty Insurance Environment

Today’s Lloyd’s of London market for casualty insurance is marked by rising prices, reduced capacity, and buyers embracing more self-insurance, according to underwriters at Lloyd’s. It is also marked by underwriters who still believe in the value of long-term relationships …

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The Liberty Company Insurance Brokers in California Adds Rodgers

The Liberty Company Insurance Brokers has named Amanda Rodgers a talent acquisition specialist. Rodgers will be working with Liberty offices nationwide to help fuel their growth strategies. Rodgers was previously with AppleOne Employment Services. The Liberty Company Insurance Brokers is …

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Deadlines Set by Mississippi Supreme Court in State Medical Marijuana Battle

The Mississippi Supreme Court is setting deadlines for attorneys to file arguments in a mayor’s lawsuit that questions the legitimacy of the medical marijuana initiative that voters approved by a wide margin. Initiative 65 requires the state Health Department to …

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Intact, Resilience Insurance to Provide Cyber Risk Coverage, Services

Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (IFC) U.S. insurance company subsidiaries, has launched cyber insurance options that will be offered in partnership with program manager Resilience Insurance. Through the new partnership, standalone cyber coverages coupled with …

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AM Best Upgrades Rating of T.H.E. Insurance Co. of Florida

T.H.E. Insurance Company (T.H.E.), an AXA XL insurance company and a McGowan Allied Specialty Insurance partner, has been upgraded to A+ (Superior)/XV by AM Best. This recent AM Best upgrade to A+ XV affirms the financial strength of AXA XL …

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U.S. Administrator Claims of Tennessee Adds Goff, Whalen as Managers

U.S. Administrator Claims has promoted Michael Goff to senior director to lead all claim operations. In addition to this promotion, the company has also hired Greg Whalen to be director of General Liability and Property Claims. Formerly the director of …

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Minnesota Insurance Agent Charged with Stealing $524K From Clients

A Minnesota insurance agent has been charged with client theft of approximately $524,000, the U.S. Justice Department says. On Nov. 18, U.S. Attorney Erica H. MacDonald reported that John David Paulson, 56, is under federal indictment, charged with two counts …

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Starr’s Greenberg Sees Opportunity for Fresh Start for U.S.-China Relations Under Biden

U.S. President-elect Joe Biden has an opportunity to start fresh with China, a move that would benefit both nations, Maurice “Hank” Greenberg, chairman of Starr Insurance Companies, told Reuters on Wednesday. “President-elect Biden is no stranger to that problem,” Greenberg …

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Restaurants Sue to Stop New Michigan Governor’s Ban on Dining

Just hours before another shutdown, a restaurant trade group sued on Nov. 17 to try to stop a ban on indoor dining, attacking the latest restrictions from Gov. Gretchen Whitmer’s administration in response to a wave of coronavirus cases. The …

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Texas Officer, City Sued by Family of Black Woman Shot Through Window

Family members of a Black woman who was killed when a white police officer fired through a window of her mother’s Texas home have filed a wrongful death lawsuit against the officer and the city. The federal lawsuit was filed …

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Connecticut’s Summit Financial Group Joins Satellite Agency Network Group

Satellite Agency Network (SAN) Group Inc., a Hampton, N.H.-based alliance of independent insurance agencies in the Northeast, has announced that Summit Financial Group Inc. of Milford, Conn., has become a member of the network. Established in 1985 by Kenneth Ponelli, …

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S&P Finds U.S. Insurers Made Modest Gains in Diversity Over Decade

The U.S. insurance industry has achieved only modest gains in increasing diversity over the last 10 years, according to government data compiled by S&P Global Market Intelligence. S&P found that the percentage of Black or African-American employees in the insurance …

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FAA Safety Agency Clears Boeing 737 MAX to Fly Again

After nearly two years of scrutiny, corporate upheaval and a standoff with global regulators, Boeing Co. won approval on Wednesday from the U.S. Federal Aviation Administration to fly its 737 MAX jet again after two fatal disasters. The FAA detailed …

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Pfizer Reports 95% Success Rate in COVID-19 Vaccine Final Trial

Final results from Pfizer Inc.’s COVID-19 vaccine trial showed its shot had a 95% success rate and two months of safety data, paving the way for the drugmaker to apply for an emergency U.S. authorization within days, it said on …

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Enstar to Sell Starstone’s Lloyd’s Managing Agency to New Re/Insurance Venture Inigo

Enstar Group Ltd. and Stone Point Capital LLC announced they have signed definitive agreements to sell StarStone Underwriting Ltd. (SUL), the Lloyd’s managing agency, together with the right to operate Lloyd’s Syndicate 1301, to Inigo Ltd., a new specialty re/insurance …

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Norwegian Cruise Ship Operator SeaDream Cancels All Sailings After Virus Outbreak

Norwegian-owned cruise ship operator SeaDream Yacht Club has canceled all sailing for the remainder of 2020 after positive COVID-19 test results onboard one of its cruises, it said on Tuesday, dealing a fresh blow to the cruise industry. The decision …

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Aon Launches Asia Pacific Capital Advisory Unit to Assist Re/insurer Clients

Insurance broker Aon plc has launched an Asia Pacific Capital Advisory unit within Reinsurance Solutions to deliver a holistic approach to capital optimization for re/insurers. The initiative follows Aon’s launch of similar Capital Advisory units in the UK and U.S., …

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The Insuring Cyber Podcast Episode 2: Forget the Stars, Insurers are Shooting for the Cloud

Recent research shows that more insurers are taking advantage of Cloud technology for data storage and managing business functions. According to a 2018 report from Novarica called Cloud Adoption in Insurance: Trends and Issues, more than 70% of insurers reported …

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UK Insurer RSA Accepts $9.6 Billion Cash Takeover Offer

LONDON – British insurer RSA is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada’s Intact Financial and Denmark’s Tryg in one of Europe’s biggest financial takeover bids this year. Insurers have become an attractive proposition since the …

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South African Insurer Santam Loses COVID-19 Business Interruption Test Case

A Cape Town court ordered Santam Ltd. to pay out business-interruption claims to two South African hospitality companies, potentially opening up the industry to cover losses suffered because of the coronavirus pandemic. The court agreed with the approach of the …

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Atlanta-Based INSUREtrust Adds Waldrep as Account Manager

Atlanta-based INSUREtrust has added Patrick Waldrep as an account manager in Georgia. Before joining INSUREtrust, Patrick worked as a sales manager for State Farm where he was responsible for growing and servicing all aspects of the agent’s book, including gathering …

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West Virginia Boarding School Settles Abuse Lawsuit for $52M

A lawsuit alleging widespread abuse at a now-closed northern West Virginia boarding school has been settled for $52 million. The lawsuit was filed by 29 students of the former Miracle Meadows School in Salem in 2017. It was settled late …

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HSCM Bermuda Takes Majority Stake in Florida Insurer Southern Fidelity After Merger

After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a majority stake in ownership to Hudson Structure Capital …

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Insurers Using Counter-Intuitive Arguments to Escape COVID Liabilities: UK Regulator

Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain’s markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which …

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Gray Surplus Lines Insurance to Launch Dec. 1 in Louisiana

Metairie, La.-based Gray Insurance Co. is expanding its excess casualty capabilities with the launch of Gray Surplus Lines Insurance Co. on Dec. 1, 2020. Domiciled in Louisiana and with an A.M. Best rating of A- (Excellent), Financial Size Category of …

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Despite Warnings and Laws, Drivers Continue to Be Distracted by Phones

Despite education programs and state laws, phone-based driving distraction is still on the rise—and is likely responsible for far more accidents than widely reported, says a new study from Cambridge Mobile Telematics (CMT). CMT’s analysis of 54 million trips recorded …

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Allied World Sells Majority Stake in High-Net Worth Insurer Vault

Fairfax Financial Holdings and its subsidiary Allied World Assurance Co. have agreed to sell their majority interests in Florida-based high-net worth insurer Vault E&S Insurance Co. to private equity investor Cornell Capital and asset manager Hudson Structured Capital Management. Fairfax, …

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Nearly 90,000 Sexual Abuse Claims Filed Against Boy Scouts in Bankruptcy

Close to 90,000 sexual abuse claims have been filed against the Boy Scouts of America as the Monday deadline arrived for submitting claims in the organization’s bankruptcy case. The number far exceeds the initial projections of lawyers across the United …

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Crest Insurance in Arizona Names Wimmer Personal Lines Manager

Crest Insurance Group LLC of Scottsdale, Ariz., has added Sarah Wimmer as a personal lines manager. Wimmer will oversee employees within the personal lines department from all seven branches including Tucson, Scottsdale, Sierra Vista, Flagstaff, San Diego, Denver and Ft. …

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Oklahoma Places New Restrictions on Bars, Restaurants Amid Virus Surge

Oklahoma Gov. Kevin Stitt has announced new restrictions on bars and restaurants and plans to require mask wearing inside state buildings, the first state restrictions imposed since the economy reopened in May, as officials attempt to control the surging number …

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Columbus, Ohio, Plans to Pay $1M to Family of Woman Killed by Officer

The city of Columbus, Ohio, plans to pay $1 million to the family of a woman killed by an undercover officer in August 2018, according to documents filed in Franklin County Probate Court. The payout would be the largest in …

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Tornado in Arkansas on Sunday Injured 4 People, Destroyed Homes

A tornado in northeast Arkansas on Nov. 15 left four people injured and destroyed buildings and mobile homes, authorities said. The severe weather Sunday was near Romance, an unincorporated community about 23 miles (37 kilometers) west of Searcy, the Arkansas …

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Hine Elected President of Texas Surplus Lines Association

Amicia Hine, executive vice president with Worldwide Facilities LLC, MHI-MGA Division, in San Antonio, has been elected president of the Texas Surplus Lines Association Inc. Justin Kotrla, senior vice president, Property, at AmWINS Group in Dallas will serve as vice …

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Cyber Security Top Concern for Businesses in ‘Age of Risk,’ Marsh’s Glaser Says

Cyber security has emerged as the most pressing exposure for business confronting a new “age of risk,” topping the coronavirus pandemic and climate change, in part because cybercrime is so pervasive, the head of insurance broker and consulting firm Marsh …

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Arch Insurance N. America Hires Former The Guarantee CEO Ruschak as EVP, Surety

Arch Insurance North America announced that Stephen Ruschak has been hired as executive vice president, Surety. Ruschak most recently was chief executive officer of The Guarantee Company of North America. In this role, Ruschak will have responsibility for Arch’s Surety …

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Zywave Snatches Up Advisen in Move to Accelerate Global Growth

Insurance technology company Zywave snatched up Advisen, a global insurance data provider, in a deal expected to fuel more rapid international growth. The acquisition includes Web Connectivity Ltd. (WCL), a UK-Based Advisen subsidiary whose technology supports the electronic placement of …

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Specialty Re/Insurer Convex Group Raises $1B in Additional Capital

Specialty insurer and reinsurer Convex Group Ltd. announced it has secured commitments for an additional $1.0 billion of equity capital, subject to the requisite regulatory approvals. Bermuda-based Convex launched in April 2019 with $1.7 billion of initial committed capital. This …

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20 Farms in Washington Fined for Not Protecting Workers From COVID-19

Three Mid-Columbia farms are among those receiving the biggest fines in the state from the Washington state Department of Labor and Industries for serious violations of agriculture regulations to prevent the spread of the coronavirus. More than 20 farms have …

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Magnitude 5.5 Earthquake Confirmed in Remote Corner of Nevada

A magnitude 5.5 earthquake struck a remote corner of Nevada early Friday, shaking the desert and a nearby town, the U.S. Geological Survey confirmed. The quake struck at 1:13 a.m. and was centered about 21 miles southeast of Mina, a …

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Flexible Work Could Boost Applications from Women for Senior Roles by 20%: Zurich

Employers that embrace flexible working after the COVID-19 pandemic could boost applications from women for top jobs by as much as 20%, according to a study by Zurich Insurance. Between March 2019 and February this year, Zurich’s UK subsidiary gained …

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Two Dead, One Missing in Blast at Veterans Hospital Outbuilding in Connecticut

An apparent steam explosion in a maintenance building at a Veterans Affairs hospital in Connecticut killed two people Friday, and a third person is missing, officials said. “We received a report this morning that an explosion occurred at the West …

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Kaufman Dolowich & Voluck Hires Mancebo as a Partner in New York City

Kaufman Dolowich & Voluck LLP (KDV), a national law firm serving the business and insurance communities and headquartered in Woodbury, N.Y., has hired John Mancebo as a partner in its New York City office. Mancebo, who was previously chair of …

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Connecticut’s TigerRisk Partners Appoints O’Keefe as Head of Strategy

TigerRisk Partners has appointed Bill O’Keefe as its head of Strategy. In this new role, O’Keefe will identify growth initiatives, advise the company’s leadership and consult with clients to drive results. O’Keefe comes to TigerRisk from McKinsey & Company, where …

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Is the Aviation Insurance Market Ready for a COVID-19 Vaccine?

As the development, and possible mass production, of COVID-19 (C-19) vaccines gather speed, the transportation and logistics industry will need to turn its attention to how the product can be safely and efficiently distributed. Recent figures from the International Air …

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Swiss Re Names Kitsikis as Head of Client Markets P&C for Canada, English Caribbean

Swiss Re announced the appointment of Agis Kitsikis as head of Client Markets P&C for Canada and English Caribbean, effective immediately. Kitsikis succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of Business Development for EMEA. In …

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Ten Largest Insurance Markets Likely to See 4.5% Drop in GDP During 2020

The world’s 10 largest insurance markets are cumulatively expected to see their gross domestic product (GDP) decrease by 4.5% in 2020 compared to 2019 because of COVID-19, according to a new Insurance Information Institute (Triple-I) report. “All things being equal, …

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Most Powerful Atlantic Hurricane of 2020 Hits Central America

Hurricane Iota slammed into Central America late Monday with ferocious winds and rain, threatening to cripple a region already reeling from a deadly storm two weeks ago. Iota, the most powerful Atlantic hurricane in a record-setting season, is moving along …

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Canada’s Banks, Insurers to Participate in Pilot Climate Risk Project

Some of Canada’s largest banks and insurers are set to participate in a pilot project to better understand the risks to the financial system from the transition to a low-carbon economy, Canada’s central bank and financial regulator said on Monday. …

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Federal Reserve Raises Questions Over Life Insurers’ Risk of Coronavirus Claims

U.S. life insurers face questions about their ability to cover a sudden rush of claims after the Federal Reserve highlighted liquidity and leverage risks in a report this week. Issues the Fed focused on are not new: Life insurers have …

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U.S. Safety Agency Expands Probe Into 159,000 Teslas Over Touchscreen Failures

The U.S. National Highway Traffic Safety Administration (NHTSA) said on Monday it was expanding a probe into nearly 159,000 Tesla Model S and Model X vehicles, upgrading it to an engineering analysis, a step required before it can seek to …

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State Farm Fire Prevention Pilot Tests Sensors That Detect Home Electrical Wiring Defects

State Farm is sending sensors that can detect hazards in electric wiring to 40,000 homeowners in California, Arizona and Texas as part of a pilot project that will measure potential savings and customer acceptance. Mike Fields, a State Farm vice …

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M.J. Hall Adds Marsh from Risk Placement Services in Arizona

MJ Hall & Co. has added Maaika Marsh as a lead broker. Marsh is based in Chandler, Ariz. She has more than 10 years of experience in insurance brokerage in Arizona and California. Marsh has been focused on new business …

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Topa Insurance in California Names Pavone Vice President of Underwriting

Calabasas, Calif.-based Topa Insurance Group has promoted Susan Pavone to vice president of underwriting. Pavone will oversee the commercial underwriting of Topa Insurance Co. and be responsible for setting underwriting strategies, overall underwriting portfolio management, guidelines, and production. Pavone joined …

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Nurses in North Dakota Worry About Working with Sick Colleagues

Like many medical workers around the world, the coronavirus pandemic is a burden that Fargo emergency room nurse Adam Johnston can’t escape. The grim reality follows him everywhere: at work, where people die every shift; at the grocery store, where …

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Carter to Lead Tennessee Insurance Department

Tennessee Governor Bill Lee has selected Carter Lawrence to serve in his cabinet as commissioner of the Tennessee Department of Commerce & Insurance, effective immediately, according to a statement form the governor’s office. “Carter is a proven public servant who …

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Citizens People Moves: Thomas Joins Board, Beruff Becomes Chair, Dunbar to Rep FIGA

Several changes came to Florida’s Citizens Property Insurance Corp. Board of Governors this month with two new appointments and the approval of one board member to serve as a representative for the Florida Insurance Guaranty Association (FIGA). Florida Chief Financial …

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California Couple Charged with Insurance Fraud After 4-Car Collision

Jamil Reinery Flores, 39, and Nelly Patricia Turcios, 32, a married couple from Fullerton, Calif., were charged with multiple felony counts of insurance fraud after allegedly misrepresenting when a car accident occurred in order to receive an undeserved insurance payout. …

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Insurers Tell UK Supreme Court They Cannot Provide Unlimited Cover During Pandemic

Major insurance companies told the UK Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses devastated by the coronavirus crisis. Opening a …

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Hub Acquires Assets of The Vitolo Company in Washington

Hub International Limited has acquired the assets of The Vitolo Co. in Seattle, Wash. Terms of the deal were not disclosed. Mike Vitolo, founder and president of The Vitolo Co., as well as the Vitolo team, will be joining Hub …

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Massachusetts Septic Hauler to Pay Fine to Settle Illegal Dumping Lawsuit

A Massachusetts septic hauling company has agreed to pay up to $500,000 to settle allegations that it dumped waste into a local town’s sewer system to avoid paying disposal fees. State Attorney General Maura Healey said Friday that as part …

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Independent Agents Seek Digital, Product Support From Carriers to Battle Direct Writers

Independent insurance agents and their carrier partners face strong headwinds in their efforts to maintain their dominance among distribution channels due to increased competition and evolving consumer expectations, according to new research. According to the J.D. Power 2020 U.S. Independent …

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World Insurance Associates Acquires Virginia’s Danaher-Skewes & Associates

World Insurance Associates LLC (WIA) acquired Danaher-Skewes & Associates Inc. of Manassas, Va., on November 1, 2020. Terms of the transaction were not disclosed. Established in 1963, Danaher-Skewes is an independent insurance agency, serving residents and businesses in Alexandria, Va., …

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Alera Group Names Parker as VP of Employee Benefits Technology & Services

Alera Group, a Deerfield, Ill.-based insurance and financial services firm, has named Brian Parker as vice president of Employee Benefits Technology & Services, effective November 1, 2020. He will be based out of Philadelphia, Penn. In this role, Parker will …

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Obsidian Specialty Insurance Company Receives A- Rating from AM Best

AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier serving managing general agents, managing general underwriters and program managers. …

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Hurricane Iota Threatens Honduras, Nicaragua, Just Days After Storm Eta

Iota became the thirteenth hurricane of the Atlantic season early Sunday, threatening to bring another dangerous system to Nicaragua and Honduras – countries recently clobbered by a Category 4 Hurricane Eta. Iota was already a record-breaking system, being the 30th …

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U.S. Expected to Grant Safety Clearance for Boeing’s 737 MAX This Week

After a standoff with global regulators, management turmoil and a massive safety review, Boeing Co. is set to win U.S. approval on Wednesday to resume flights of its grounded 737 MAX. But the largest U.S. airplane maker faces headwinds from …

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Specialty Re/insurer Chaucer Launches Bermuda Reinsurance Branch for U.S. Business

Chaucer, the London-based specialty re/insurance group, announced the launch of a reinsurance branch in Bermuda to provide U.S. clients with greater access to its underwriting expertise and capacity. This follows the receipt of the necessary regulatory approvals from the Bermuda …

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HSB Offers Consultancy Services in UK, Ireland to Help Firms Improve Life of Equipment

HSB is expanding its engineering services to deliver consultancy services that enable businesses to improve efficiency and meet their compliance obligations. Using the technical knowledge and expertise of its engineers, HSB’s new range of consultancy services will provide businesses with …

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Medical Costs of COVID Patients 50% Higher Than Before Hospitalization: German Study

Medical costs of German COVID-19 patients who have left hospitals are on average 50% higher than before they were admitted, data from a major insurer showed, a sign that even those who have recovered struggle to regain full health. The …

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AXA Disputes Ruling that It Must Pay Millions of Euros in Back Taxes: News Report

AXA SA was ordered to pay tens of millions of euros in back taxes last year after French fiscal authorities deemed a Luxembourg-based structure was improperly used to avoid tax payments in France, Mediapart reported on Sunday. French fiscal authorities …

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Flooding in North Carolina Prompts State of Emergency

Flooding from heavy rains across North Carolina prompted Gov. Roy Cooper to declare a state of emergency on Friday as searchers looked for a 1-year-old and an adult who disappeared when high water swept through a campground. In addition to …

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Lockton Hires Aon’s Stine as Midwest Series VP in St. Louis

Lockton has added Casey Stine as a vice president and Business Development consultant for the firm’s Midwest Series. Stine, who has nearly a decade of experience in employee benefits and corporate human resource consulting, is located in the firm’s St. …

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World Insurance Associates Acquires Indiana’s Ball Insurance

Ball Insurance Services (Ball Insurance) of Northwest Indiana has been acquired by World Insurance Associates LLC. Ball Insurance, based in Merrillville, Ind., is a property/casualty-focused agency, specializing in auto and motorcycle insurance. The agency has been in business since 1962. …

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GM Recalling 69,000 Chevy Bolt Electric Cars Over Fire Risk

General Motors Co. said on Friday it was recalling 68,677 electric cars worldwide that pose a fire risk after five reported fires and two minor injuries. The recall is for 2017-2019 model year Chevrolet Bolt EVs with high voltage batteries …

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Kevelighan: Talks with Institutes on Creating 21st Century Triple III Began Years Ago

Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to the III executive behind the move. III CEO …

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McDonald’s Plans Safety Checks of All Restaurants as COVID Cases Surge

McDonald’s Corp. will inspect all its U.S. restaurants to ensure compliance with safety standards as coronavirus cases surge again and “COVID fatigue” sets in, according to an internal note seen by Reuters on Friday. “It is apparent we are entering …

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Texas Automobile Insurance Plan’s 4.8% Commercial Auto Rate Hike Approved

The Texas Department of Insurance (TDI) has approved the request by the Texas Automobile Insurance Plan Association (TAIPA) for a 4.8% increase in commercial auto rates, with an effective date of March 1, 2021. TAIPA members include all insurers authorized …

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Orchid Insurance, Homesite Launch Homeowners Insurer TRUE in Florida

Orchid Underwriters Agency, LLC (Orchid), a specialty underwriter of catastrophe-exposed property insurance, and Homesite Group, a national property insurer, have created TRUE, a reciprocal insurance company to protect homeowners in coastal states. TRUE (Trusted Resource Underwriters Exchange) is domiciled in …

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HUB Acquires Assets of Miss.-Based Larry Dean Massey, Jr.

Hub International Limited (Hub), a global insurance brokerage, has acquired the insurance brokerage assets of Larry Dean Massey, Jr. (Massey). Terms of the transaction were not disclosed. With legacy operations in Memphis, Tenn., and now in Oxford, Miss., Massey offers …

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Judge Throws Out Trump Campaign’s Libel Claim Against CNN

A U.S. judge on Thursday dismissed a libel lawsuit filed by President Donald Trump’s re-election campaign against CNN over a 2019 opinion piece which it said suggested the campaign would be open to Russian interference, according to a court document. …

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25K Virus-Linked Claims Filed with Texas Workers’ Comp Carriers Through June 30

As of Sept. 27, workers’ compensation insurance carriers in Texas had reported more than 25,000 COVID-19 claims and 103 fatalities to the state’s regulators. The numbers cover virus-related claims reported to insurers through June 30, 2020. A report released by …

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Hiscox USA Appoints Fiddler as Chief Marketing Officer

Regine Fiddler has been appointed chief marketing officer for insurer Hiscox in the U.S. Fiddler, who previously served as the chief marketing officer and head of Product at BankMobile, will report to and succeed Russ Findlay, who was promoted to …

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Everest Insurance Promotes Wu to E&S Excess Casualty National Leader

Everest Insurance announced that Edward Wu has been promoted to the role of vice president and national leader, Excess & Surplus Excess Casualty. In this role, Wu will be responsible for strategy, underwriting discipline and production for the E&S Excess …

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Brookfield Asset Management to Launch Reinsurer; Distribute Shares to Investors

Brookfield Asset Management Inc. is launching a reinsurance business and plans to distribute shares in the new entity to its investors in the form of a $500 million special dividend. Bruce Flatt, Brookfield’s chief executive officer, said in a letter …

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California’s Wine Country Adapting to Annual Wildfire Threat

Harvest season in Northern California’s wine country is what dream weddings are made of: ripe grapevines and golden sunsets provide ceremonies an alluring backdrop that every year draws millions of visitors. But harvest season now overlaps with fire season as …

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Cross Insurance Hires Moriarity as Chief Information Officer Based in Maine

Cross Insurance, a subsidiary of Cross Financial Corp. and an independent insurance provider in New England, has hired Timothy Moriarity as chief information officer (CIO). He will be based in Bangor, Maine. In this new role, Moriarity is responsible for …

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World Insurance Associates Acquires New Jersey’s Fairways Insurance

World Insurance Associates LLC (WIA) has acquired Fairways Insurance Inc. of Cinnaminson, N.J., on November 1, 2020. Terms of the transaction were not disclosed. Fairways is a full-service insurance agency serving clients throughout New Jersey, Pennsylvania and Delaware. WIA is …

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Apartment Builders Settle Claims of Illegal Asbestos Work in Massachusetts

The builders of an apartment complex have agreed to pay $335,000 to settle allegations that workers improperly handled asbestos-containing material during the redevelopment of a former manufacturing site in Lawrence, Massachusetts Attorney General Maura Healey said Tuesday. The agreements settle …

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For First Time, Federal Reserve Cites Climate as Financial Stability Risk

The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. “Acute hazards, …

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Goldman Eyes More Business From Europe’s Insurers With Barclays Hire

Goldman Sachs has poached Barclays’ insurance banker Marguerite Bion to win more business from Europe’s biggest insurers as industry consolidation heats up amid anemic profitability and tightening regulation. Bion, who started her career at Citigroup in 2001 and spent the …

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Italy’s UnipolSai Stays on Profit Track Despite Coronavirus Resurgence

UnipolSai, Italy’s second-largest insurer, confirmed its full-year targets on Friday after a 37.7% rise in nine-month earnings, despite an uncertain economic outlook caused by the resurgence of the COVID-19 pandemic. The company said its consolidated net profit for the first …

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North Carolina Insurers Seek 24.5% Rate Hike for Homeowners

The North Carolina Rate Bureau has requested an average statewide rate increase of 24.5% on homeowners insurance rates in the state, according to a statement from the North Carolina Department of Insurance. The NCRB is not part of the NCDOI …

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Homeowners Insurer Openly Enters Ohio

Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media release. The company said its entrance to the state provides …

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Distinguished Programs Adds AIG’s Schleich as Midwest Regional Sales Executive

Distinguished Programs, a national insurance program manager, has added Mike Schleich as regional sales executive covering the North Central Territory. This region includes Indiana, Michigan, Ohio, and Kentucky, as well the city of Chicago. Schleich, who is based in Cleveland, …

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Hurricanes Staying Stronger Longer After Landfall Than in Past

Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as …

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Chinese Grain Plant in Argentina Resumes Operations Following Fatal Accident

A grains crushing plant of Chinese farm giant COFCO International partially resumed operations on Thursday, after halting them on Tuesday after an incident in which three contractor workers died, a spokesman told Reuters. Argentina is the world’s leading exporter of …

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Professional Liability Underwriters Feeling Pressure From COVID: AM Best

The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report. With its Best’s Special Report, “Professional Liability …

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Irish Brewer Guinness Recalls Non-Alcoholic Stouts As Safety Precaution

Irish brewer Guinness said Wednesday that it is recalling cans of its recently launched non-alcoholic stout in Britain over contamination concerns. The recall, which the brewer described as “precautionary” and related to a “microbiological contamination,” impacts the British market as …

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Court Upholds Harvard’s Use of Race in Admissions; Opponents Eye Supreme Court

A U.S. appeals court on Thursday upheld Harvard University’s use of race in undergraduate admissions, rejecting a challenge by affirmative action opponents who said the Ivy League school’s policy discriminates against Asian-Americans. Opponents of the decision, by the 1st U.S. …

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EQ One Adds Earthquake Capacity, Expands Limits through Munich Re

EQ One, a West Coast earthquake insurance underwriter, has added additional capacity to its earthquake offering through Munich Re Specialty Insurance. This increased capacity will allow EQ One team to write larger earthquake risks. EQ One is a difference in …

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GRS Appoints Keenan to Head Learning, Marketing Operations

Global Risk Solutions, Inc., a provider of claims adjusting and environmental risk management services based in Miami, has added Colm Keenan as executive vice president and chief of Learning & Marketing. Keenan will be based in Sarasota, Fla. and report …

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Slice Labs, AXIS Insurance to Offer Home Based Business Coverage

Slice Labs Inc. and AXIS Insurance have partnered to distribute AXIS Home Based Business insurance, an on-demand digital commercial insurance product designed for home businesses not covered by traditional homeowners insurance policies. AXIS Insurance is the specialty insurance business segment …

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Citrus Groves, Plant Nurseries Near New Orleans Pummeled by Zeta

Hurricane Zeta hit Louisiana’s citrus growers right at harvest time, and hit them hard. “We have some growers with up to 75% of their citrus laying on the ground,” LSU AgCenter horticulture agent Joe Willis said in a news release. …

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Bridge Linking Ohio, Kentucky Closed by Fiery Crash

A fiery crash on a bridge linking Ohio and Kentucky could force the span to remain closed for days as officials tried to determine the amount of damage to the bridge that serves as a crucial link for interstate commerce, …

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Bass Pro Shop Facing Lawsuit Over Alligator Meat Contract

Bass Pro Shops is being sued by a Louisiana seafood company that alleges the outdoor retailer did not buy enough alligator meat. Big Pop’s Fresh Louisiana Seafood alleges in a federal lawsuit filed last week that Bass Pro agreed to …

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AIG’s Fato Adds Communications to Government Duties; Garbaccio Promoted

American International Group announced that Lucy Fato, executive vice president and general counsel, has assumed additional responsibilities in the newly created position global head of Communications and Government Affairs. In her expanded role, Fato has assumed responsibility for Global Communications …

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Japan Electric Company Gets Local Approval to Restart Nuclear Reactor

Japan’s Tohoku Electric Power said on Wednesday it had received the green light from a local governor to restart one of its nuclear reactors, nearly a decade after it was damaged in the earthquake and tsunami that caused the Fukushima …

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3 Killed in Accident at Chinese Grain Plant in Argentina

Activity at an Argentine grains crushing plant of Chinese commodities giant COFCO International was halted on Tuesday after an accident that killed three workers, the company said. “We regret to inform that at our plant in the town of Saforcada, …

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Aon Invests $30 Million to Create 10,000 Apprenticeships Nationwide by 2030

Global insurance broker Aon said it is expanding its corporate apprenticeship program with an investment of $30 million over the next five years. With this expansion, Aon hopes to develop a nationwide network of employers to create 10,000 apprenticeships across …

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Meat Company Suing New Mexico to Remain Open After Virus Cases

A U.S. meat company that supplies Walmart and Costco is suing New Mexico to fight a state order that seeks to close a production facility where more than 100 workers have tested positive for COVID-19. The lawsuit from Stampede Meat …

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Nonprofits The Institutes, Insurance Information Institute to Affiliate Nov. 16

The insurance education and research nonprofit The Institutes said it will finalize its affiliation with its fellow nonprofit Insurance Information Institute (Triple-I) on November 16, 2020. According to the announcement, the Triple-I will retain its offices in New York City …

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Ex-Federal Worker Pleads Guilty to Disability Benefits Fraud

A former Federal Air Marshal employee pleaded guilty Tuesday to fraudulently collecting nearly a quarter of a million dollars in government disability benefits while owning and operating a martial arts business in Rhode Island, U.S. Attorney for Rhode Island Aaron …

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Insurance Tech Firm Insurity Acquires Personal Lines Management Suite CodeObjects

Insurance systems and data analytics provider Insurity reported that it has completed the acquisition of California-based CodeObjects, which offers a management program for personal lines. The deal expands Hartford-based Insurity’s portfolio of products that is focused on commercial lines. The …

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Oakland Settling Final Lawsuit From Deadly Ghost Ship Fire

The Oakland City Council has agreed to pay $399,000 to settle the last lawsuit over a 2016 fire at an illegally converted warehouse dubbed the Ghost Ship that killed 36 people. The city doesn’t acknowledge any wrongdoing in the settlement …

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Small Tornado Confirmed in Oregon, Buildings Damaged

The National Weather Service confirmed a tornado touched down north of Portland in St. Helens, Ore. The weather service confirmed the tornado at about 2 p.m. Tuesday. It touched down around 12:20 p.m., KPTV reported. Damage to the roof of …

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LA Times Paying $3M to Settle Journalist Discrimination Suit

The Los Angeles Times and Tribune Publishing have agreed to pay $3 million to settle a lawsuit that said minority journalists and women were paid less than white reporters. Nearly 240 current and former reporters and editors will benefit from …

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Reiss Appointed President of International Bond & Marine Brokerage

James Reiss has been appointed as president of International Bond & Marine Brokerage Ltd. (IB&M), a brokerage providing risk management solutions to the international trade industry. The brokerage was recently acquired by Intact Insurance Specialty Solutions, a brand of Intact …

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World Insurance Associates Acquires New Jersey’s Collier O’Neill & Associates

World Insurance Associates LLC (WIA) has acquired Brian S. O’Neill & Associates Inc., d/b/a Collier O’Neill & Associates., of Trenton, N.J., on November 1, 2020. Terms of the transaction were not disclosed. Collier O’Neill is a full-service insurance agency serving …

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Zurich Insurance Reports Sales Growth, Higher Rates, Modest COVID-19 Claims

Zurich Insurance Group saw increased commercial lines insurance sales and a modest impact from COVID-19 related claims for the first nine months of the year, according to its third quarter report. Growth was supported by higher premium rates, which improved …

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