World Insurance Associates Acquires Arkansas’ Corporate Risk Services

World Insurance Associates LLC (WIA) has acquired Corporate Risk Services LLC and Midwest Risk Management Services Inc. (collectively Corporate Risk Services) of Rogers, Arkansas. Terms of the transaction were not disclosed. Corporate Risk Services is an independent insurance brokerage firm. …

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Guerrero Joins Alliant Insurance Services in Houston

Jessie Guerrero has joined Alliant Insurance Services in Houston as senior vice president, Energy & Marine. Guerrero has extensive experience in all segments of the private and public energy sectors. He will be drawn upon to deliver enhanced consulting solutions …

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Crash Victims’ Families Seek Boeing CEO Testimony; Lawmakers Seek FAA Records

Relatives of victims of a Boeing Co. 737 MAX crash in Ethiopia that occurred five months after an Indonesian Lion Air disaster are stepping up pressure on the American planemaker and the federal government, according to a court filing and …

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House Votes to Extend Civil and Labor Rights to LGBTQ Americans; Fate in Senate Uncertain

The Democratic-led House passed a bill Thursday that would enshrine LGBTQ protections in the nation’s labor and civil rights laws, a top priority of President Joe Biden, though the legislation faces an uphill battle in the Senate. The bill passed …

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Investor Suit Alleges Chemours Directors Misled About Firm’s Financials, Liabilities

Chemours Co.’s directors were accused in a lawsuit of duping shareholders about its financial health and the extent of its legal liability at the time it was spun off from a predecessor of DuPont de Nemours Inc. When the former …

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U.S. to Urge Barriers, Elevation to Fight New Jersey Back Bay Flooding

The federal government will recommend flood control measures including storm surge barriers, floodwalls and elevating homes and other buildings in a report later this year on combating back bay flooding, a major problem in New Jersey that gets comparatively less …

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Biden Extends Unemployment Insurance for Workers Fearing COVID Risk

The Biden Administration is expanding eligibility for unemployment benefits for workers who feel they are forced to choose between working in an unsafe environment and refusing work to avoid the risk of coronavirus infection. The U.S. Department of Labor is …

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Virginia Lawmakers Advance Consumer Data Protection Act

The Virginia General Assembly is advancing legislation that allows Virginia consumers more protection with their online data, though opponents say the measure does not include the ability for people to file private lawsuits against companies that breach the proposed law. …

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Ascot Promotes Thompson to CEO, Bermuda, as Berger Retires

Ascot announced the promotion of Ian Thompson to chief executive officer, Bermuda. Thompson will assume leadership of Ascot’s multi-faceted business on the island, which includes specialty insurance, reinsurance and alternative capital capabilities underwritten from the group’s “A”-rated Bermudian platform. The …

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Conner Strong & Buckelew Names Jampana as Senior VP, Chief Information Officer

Conner Strong & Buckelew, an insurance, risk management and employee benefits brokerage and consulting firm, has named 25-year technology leader Anil Jampana as its senior vice president and chief information officer. In this newly created position, he will oversee all …

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One80 Intermediaries Acquires New York’s Edward E. Hall and Company

One80 Intermediaries has acquired Edward E. Hall and Company (EE Hall). Terms of the deal were not disclosed. One80 is a national wholesale broker, program manager, third-party administrator (TPA), warranty and lender-based insurance provider and insurance aggregator headquartered in Boston, …

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Beazley Forms Digital Business Unit to Transform Tech Strategy, Led by Fantozzi

Specialist insurer Beazley has unveiled a new digital business unit to transform how the company develops, underwrites and delivers digital insurance solutions for clients and brokers. Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be …

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D&O-Focused MGA, Rising Edge, to Launch in 1st Half

Rising Edge, a London-based managing general agent (MGA), writing directors’ and officers’ (D&O) insurance, is set to launch in the first half of 2021. The new company will be led by Chief Executive Officer Philippe Gouraud, a well-known industry executive …

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Senator Says Microsoft Failed to Fix Cloud Software Issue Used by SolarWinds Hackers

Microsoft Corp.’s failure to fix known problems with its cloud software facilitated the massive SolarWinds hack that compromised at least nine federal government agencies, according to security experts and the office of U.S. Senator Ron Wyden. A vulnerability first publicly …

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AI-Driven Insurance Distribution Platform Wins $11 Million Financing Round

A startup centered around an AI-driven platform for insurance distribution secured $11 million in Series A financing. Zelros plans to use the money, in part to propel its North American expansion, with a new regional headquarters set to launch in …

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EU Seeks More Protection Against Climate Risks by Raising Resilience, Insurance Cover

The European Union is bolstering its 14-trillion-euro ($17 trillion) economy against damage caused by the impacts of climate change, from droughts to floods and forest loss. Under an updated climate adaptation strategy unveiled Wednesday, the European Commission is calling for …

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Canadian Insurtech Farmers Edge Raises $100 Million in IPO

Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the top end of its marketed range, according to people familiar with the transaction. Farmers Edge sold shares for about C$17 …

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UK Insurer RSA Reports 15% Hike in 2020 Operating Profit

UK insurer RSA has reported a 2020 business operating result of £751 million ($1.1 billion), up 15% from £656 million ($926 million) reported during 2019. The group paid out some £4.6 billion ($6.5 billion) in “normal” claims while also providing …

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Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims

DUBLIN – Irish insurer FBD more than doubled the money set aside to cover lockdown-linked claims to 65 million euros ($79 million) after it lost a test case brought by four publicans over a policy that included business-interruption losses. Ireland’s …

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Texas Marine Services Firm to Pay $125K to Settle Disability Discrimination Suit

A Galveston, Texas-based marine services company, will pay $125,000 and furnish significant equitable relief to settle a disability discrimination lawsuit, federal officials say. The U.S. Equal Employment Opportunity Commission (EEOC) lawsuit alleges T&T Subsea LLC fired a commercial diver because …

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Texas Mom Seeks to Raise Fire Safety Awareness after 4 Die in Frigid Home

A Houston-area woman whose mother and three children were killed during the widespread power outages in Texas says she hopes to use money from a fundraising campaign to increase awareness about fire safety. Jackie Nguyen, 41, said that amid frigid …

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Judge Dismisses Georgia Lawsuit by Transgender Fire Chief Over Technicality

A federal judge has dismissed a discrimination lawsuit by a transgender fire chief who led a rural Georgia city’s fire department for more than a decade, then got fired 18 months after first coming to work as a woman. U.S. …

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SIU Adds Kiernan to Marine Brokerage Team in Georgia

Southern Insurance Underwriters, Inc. (SIU) has added John Kiernan to its Marine Brokerage team. He will be based in Alpharetta, Ga. Kiernan comes to SIU with experience in underwriting all classes of hull, marine liability and recreational marine business. Kiernan …

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Poms & Associates Adds Roque and Evaniuck in California

Poms & Associates has named Jo Anne Roque vice president of risk services, and Nikki Evaniuck senior account manager. Roque is a member of the Poms & Associates risk services team that serves the New Mexico Public Schools Insurance Authority. …

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Insurance Employment Impresses With Insurers Adding 20K Jobs During Pandemic

Levels of employment for the insurance industry are “holding up much stronger than the overall economy,” the leader of an insurance search firm said recently, reporting that insurers have added almost 20,000 jobs since March 2020. The actual number, 19,700 …

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Affirmative Action Foes Ask Supreme Court to Weigh Harvard’s Use of Race in Admissions

Opponents of policies used by universities to increase their numbers of Black and Hispanic students asked the U.S. Supreme Court on Thursday to prohibit Harvard University’s consideration of race in undergraduate admissions in a case that could end such affirmative …

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PPIB in California Names Etter President

Petaluma, Calif.-based Professional Program Insurance Brokerage has promoted Susan Etter to president. Etter will oversee and manage all daily operations of PPIB. The move coincides with the promotion of PPIB founder and current President Susan Preston to vice president of …

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Risk Management (or Lack Thereof) and Texas’ Deep Freeze Energy Failures

While renewable energy sources such as wind turbines and solar panels fuel a fraction of the state’s energy grid, the bulk of Texas’ power is supplied by natural gas, coal and nuclear plants, with natural gas power plants generating nearly …

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Most of Texas Deep Freeze $90 Billion in Losses Avoidable, Modeler Says

Texas’s deep freeze and power outages last week could cost as much as $90 billion in losses, and most of it could have been avoided, according to Enki Research disaster modeler Chuck Watson. Arctic cold brought ice and sub-zero temperatures …

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World Insurance Associates Acquires New Jersey’s Szerlip & Company

World Insurance Associates LLC (WIA) acquired Szerlip & Company of Millburn, New Jersey, on January 1, 2021. Terms of the transaction were not disclosed. Szerlip & Co. is a third generation insurance agency founded by Herbert Szerlip in 1934. His …

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Glatfelter Insurance Appoints Murray as President of Claims Management Business

Glatfelter Insurance Group (GIG), an American International Group Inc. (AIG) company, has appointed Conor Murray as president of Glatfelter Claims Management (GCM), effective February 8, 2021. He will report directly to James Partridge, chief operating officer of Glatfelter Insurance Group. …

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Crawford & Company Appoints Pageau as VP, Managing Director in New England Region

Crawford & Company, a publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations, has appointed Robert Pageau as vice president and managing director of U.S. Loss Adjusting for the New England region. In this …

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Zurich North America Names Aviva’s Kundi as Canada Chief Risk Officer

Sonia Kundi has joined the Zurich North America Group Risk Management team as Canada chief risk officer, effective immediately. She reports to North America Chief Risk Officer Colleen Zitt and will be a member of her leadership team. She will …

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Appeal Over Dictionary Use Denied in University of Virginia Lacrosse Slaying

A federal judge has rejected an appeal from a former University of Virginia lacrosse player that his 2012 murder conviction should be tossed out because of a claim the jury improperly consulted a dictionary. George Huguely V is serving a …

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Kenya Seeks More Crop Insurance to Cover Small Farms from Climate Change Risks

Kenya’s agriculture ministry has opened bids for crop insurance providers to cover more smallholder farmers from the risks and shocks of climate change, under a government program, according to a statement in state-owned MyGov newspaper. Companies have until March 16 …

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Britain Reviews Rulebooks to Keep Financial Services Sector Competitive After Brexit

Britain is conducting a review of its financial rulebooks and policies to see how it can keep its 130 billion pound ($184 billion) finance sector competitive after Brexit left it largely cut off from the European Union. The government is …

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Texas Lawmakers Told Insurers Want ‘Seat at Table’ As Power Blackout Probe Begins

Texas state legislators on Thursday begin digging into the causes of deadly power blackouts that left millions shivering in the dark as frigid temperatures caught its grid operator and utilities ill-prepared for skyrocketing power demand. Hearings are expected to highlight …

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AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion

AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in full-year 2019. The combined ratio for AXA’s P/C business increased 3.2 points to 99.5%, largely reflecting the impact from COVID-19 …

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UK Prime Minister Warns Climate Change Is Threat to World Security

British Prime Minister Boris Johnson warned world leaders Tuesday that climate change is a threat to security of all nations and sharply criticized people across the globe who say this is “green stuff from a bunch of tree-hugging, tofu-munchers and …

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Joseph Schauer Named President, CEO at Ohio Agency, Schauer Group

Joseph D. Schauer has been named president and chief executive officer at Schauer Group Inc., a Canton, Ohio-based risk management, business insurance and human capital services firm. Schauer represents the fourth generation of the 102-year-old company. In addition, Aimee B. …

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Aviva Pushes Back Deadline for Final Offers for Polish Operations: Sources

LONDON – Aviva has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland, sources …

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Texas’ Upland Capital Group Launches Excess Transportation Liability Program

Newly launched specialty lines insurer, Dallas-based Upland Capital Group (Upland), has added an Excess Transportation Liability (XTL) specialty insurance offering targeting fleet sizes up to 250 revenue producing vehicles. Upland will be writing the program in all 50 states on …

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Kentucky High School Athletic Association Sued Over Coronavirus Policy

A Kentucky parent has filed a lawsuit against the Kentucky High School Athletic Association over a policy on when student athletes can return to competition after testing positive for COVID-19. Jon Kelly Johnson, a dentist from Mount Sterling, filed the …

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Texas Insurance Exec, Harrison, Honored by Big ‘I’ with Woodworth Memorial Award

Longtime Texas insurance agency executive, William “Bill” E. Harrison Jr., has been honored by the Big “I” with its Woodworth Memorial Award, the national independent insurance agency association’s highest honor. The Woodworth Memorial Award recognizes individuals who serve the insurance …

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Liberty Mutual Boosts Profit for Q4 and Year

Liberty Mutual reported net income of $162 million for the fourth quarter and $758 million for the full year 2020, versus a fourth quarter net loss of $301 million and net income $1.037 billion for full year 2019 Liberty Mutual …

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Insurance Technowledgy: Hippo, Vertafore, Monte Carlo, Coterie, Buckle and More

InsurTech Hippo is partnering with ADT to add professionally installed and monitored smart home services and discounts for home insurance customers. Hippo customers in select states who enroll in its smart home program will be offered free installation of an …

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Workers’ Compensation and COVID: More Data on Evolving Claims

Workers’ compensation insurers aren’t getting the large aggregate volumes of COVID-related claims projected during the early months of the pandemic, but different data sources give varying readouts on developments for individual U.S. states and classes of workers. In fact, while …

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Fatal Crash in Florida Keys Cuts Power, Shuts Down 3 Schools

A fatal car crash in the Florida Keys on Tuesday morning caused traffic delays and caused officials to close three schools. The crash, which happened around 5:30 a.m. in Key Largo, also knocked down some power lines, the Monroe County …

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Bill to Limit COVID-19 Lawsuits Approved in Missouri Senate

Missouri senators have passed a bill to shield hospitals, manufacturers and other businesses from lawsuits over alleged wrongdoing during the pandemic. The GOP-led Senate voted 20-13 in favor of the bill, which now goes to the Republican-led state House. Republican …

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Truck/Train Collision in Texas Results Large Explosion, Fire

A tractor-trailer and a freight train collided Tuesday morning in central Texas, causing a large explosion and fire, authorities said. There were no immediate reports of injuries after the collision in Cameron, about 130 miles (210 kilometers) south of Dallas. …

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Deadly Power Outages Lead to Board Resignations at Texas Grid Operator

Top board leaders of Texas’ embattled power grid operator have resigned following outrage over more than 4 million customers losing electricity during the mid-February deadly winter storm, including many whose frigid homes lacked heat for days in subfreezing temperatures. The …

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California Governor Wants Vaccines for Central Valley Farmworkers

More vaccines are headed to California’s vast Central Valley, an agricultural region whose workers and residents have been hard hit by coronavirus, Gov. Gavin Newsom said Monday. The multi-county region, which includes the cities of Fresno and Bakersfield, will get …

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Nevada Ski Resort Sued for Negligence After Fatal Avalanche

The widow and a friend of a man killed in an avalanche at a Lake Tahoe ski resort last year have filed separate lawsuits accusing the resort of negligently rushing to open the slopes in unsafe conditions for a holiday …

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Construction Worker Hurt in Accident at New Jersey College

A construction worker was injured when a gasket burst and struck him in the head at a college in northern New Jersey, authorities said. Workers were conducting a standard pressure test on a chiller line in the Learning Commons Library …

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Massive SolarWinds Hack Prompts Calls for U.S. Law Requiring Cyber Breach Reporting

A bipartisan group of senators on Tuesday recommended that the U.S. consider requiring companies to disclose when they have been hacked. At the first public hearing before Congress since a massive cyber-attack by suspected Russian hackers was disclosed in December, …

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Suspect Arrested in June 21 Fatal Shooting in Connecticut Hotel

A suspect has been arrested in a fatal shooting last June in a Meriden hotel, police said. Trevor Outlaw, 33, was arrested Friday in the June 21, 2020 death of Giovanni Rodriguez at the Comfort Inn on East Main Street, …

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New Members Appointed to New York State Insurance Advisory Board

The New York State Department of Financial Services (DFS) has appointed members to serve a three-year term on the New York State Insurance Advisory Board. Members of the board include representatives of the insurance industry and consumer advocates, as required …

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Allianz Global Corporate & Specialty Promotes Fioretti in New York

Allianz Global Corporate & Specialty (AGCS) has named Katie Fioretti as regional head of portfolio steering for financial lines in North America, effective immediately. She assumes the role from Alessandro Carriglio, now head of claims reporting and analytics. Fioretti reports …

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French Privacy Watchdog Probes Massive Leak of Sensitive Health Data

France’s privacy watchdog said it’s investigating the leak of sensitive health data on half a million people and said the companies involved could face heavy penalties if they don’t come forward with details of the breaches. The leaks were of …

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Finland’s Sampo Steps Up Move to Become Pure Insurance Group, Cutting Nordea Stake

Finnish financial group Sampo plc is continuing its transformation into a pure insurance group with an announcement that it will substantially cut its 15.9% stake in Nordea Bank. Sampo’s board and management said the company will focus on high-quality P/C …

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EPIC Realigns Leadership With O’Neil as President; Creates New Regional Lineup

EPIC Insurance Brokers and Consultants announced organizational and restructuring changes across the company. Tom O’Neil has been named president of EPIC and will work directly with CEO Steve Denton to grow the business across its entire platform – from Private …

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Furtschegger Appointed Global Head of Entertainment Line of Business at AGCS

Michael Furtschegger has been appointed as global head of Entertainment at Allianz Global Corporate & Specialty (AGCS), reporting directly to Dr. Renate Strasse, AGCS SE board member and chief underwriting officer specialty. Based in Munich, Furtschegger has led the global …

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AXA, Other Mega-Investors Seek to Avoid Portfolios with Global Warming Potential

All good money managers expect to outperform their benchmark, and by one such metric the French insurer and investor AXA SA recently scored a market-beating success. Not by delivering higher returns, but by generating a lower level of global warming. …

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Italy’s Top Insurer Generali to Invest €3.5B in COVID-Hit European Countries

MILAN – Italy’s top insurer Generali said on Wednesday it launched a 3.5 billion euro ($4.26 billion) investment plan over five years to support the recovery of European countries hit by COVID-19. The plan, dubbed Fenice 190 to celebrate the …

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Plans to Reform UK Insurance Capital Rules Not Part of ‘Deregulatory Agenda’: Minister

Britain’s plans to change capital requirement rules for insurers following its departure from the European Union are about tailoring them to local conditions rather than any “gratuitous deregulatory agenda,” its financial services minister said. Britain inherited the Solvency II insurance …

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Willis Towers Watson, Liberty Specialty Markets Launch Reputational Crisis Coverage

Willis Towers Watson and Liberty Specialty Markets have partnered to offer reputational crisis insurance that enables organizations to transfer the financial risk associated with certain types of reputational crises and provides access to non-insurance capabilities, including AI-powered data analysis. The …

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Florida Legislature Weighs Options to Address Rising Homeowners Insurance Costs

Three bills currently working their way through the Florida Legislature are designed to tackle the rising costs of homeowner roof claims, the costs of attorney fees in homeowner’s claims and issues surrounding notice to insurance carriers. The proposed legislations come …

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Minick Retiring from Texas Workers’ Comp Alternatives Risk Managing Firm, PartnerSource

Bill Minick, founder of Texas-based workers’ compensation risk management firm, PartnerSource, will retire at the end of March. Jennifer Hurless, president of PartnerSource, will continue in her current role leading the company. Minick began his professional career as a corporate …

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Bills to Block Mandatory Worker Vaccines Falter in the States: Stateline

Lawmakers in at least 23 states, often encouraged by vaccine skeptics, have proposed banning employers from requiring workers to get vaccinated against COVID-19 or other infectious diseases. Most bills are sponsored by Republicans, who say employees shouldn’t have to choose …

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Aviation Regulator Sees Pandemic Bringing New Safety Risks

U.S. Federal Aviation Administration chief Steve Dickson warned on Tuesday of a changed industry in the wake of the COVID-19 pandemic that has shaken air travel over the past year and created new safety risks that must be addressed. “The …

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Insurers Plan to Continue Hiking Liability Rates for Architects, Engineers: Ames Gough

Most professional liability insurers covering architects and engineers (A/E) achieved varied premium growth last year as the U.S. construction industry remained resilient during the COVID-19 pandemic. Yet, worsening claims experience is prompting these insurers to seek larger rate increases, according …

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Smith Joins Palomar Insurance in Georgia

Palomar Insurance has added Reese Smith, III to its expanding sales team as an acount executive specializing in the transportation industry. Smith has experience with trucking insurance and personalized service and will work to assist clients in understanding their company’s …

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Worker Injuries Rise as Oklahoma Pork Plant Speeds Up Slaughtering

One of America’s leading pig slaughterhouses is running faster than ever as meatpackers hustle to keep pork in grocery stores during the COVID-19 pandemic. Plant worker Hector Ixquier says it’s time to slow down. Ixquier said he sought medical treatment …

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$1B Class-Action Suit Filed Against Texas Wholesale Electricity Provider, Griddy

A Chambers County, Texas, resident has filed a class-action lawsuit against electricity retailer Griddy, accusing the provider of price gouging customers during last week’s freeze. She is seeking $1 billion in relief for affected customers. Attorneys for Lisa Khoury said …

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Unstable Construction Crane Spurs Evacuations in Downtown Atlanta

Crews Sunday worked to take down a crane outside of a 31-story building that began tilting precariously on Friday, forcing officials to evacuate several buildings in downtown Atlanta and close surrounding streets. The company said in a statement Sunday that …

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Aspen’s Bonds Joins CRC as Chief Officer for Property Programs

National wholesale broker CRC Group announced that Alex Bonds has joined the company as chief officer for Property Programs to lead CRC’s exclusive Insurisk brand’s property facility development. Bonds joins the CRC Group team from Aspen Insurance where he was …

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UK, EU to Create Financial Services Cooperation Forum for Market Access Talks

Plans by Britain and the European Union to set up a new financial cooperation forum by the end of March have made some progress but this will not automatically lead to market access, senior officials said on Tuesday. Britain’s trade …

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More Insurer Partnerships, Tech Investments, Divestitures to Come in 2021, Says Bain

Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and mergers and acquisitions will help them get there as it did in 2020, according to a Bain & Co. report. “We anticipate that …

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Northwest Alaska City Declares Disaster Following Power Outage

A small northwest Alaska city of about 900 people has declared a disaster after suffering a power outage that shut off water lines. While power has been restored in the city of Selawik, only some water lines are operational again. …

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California Lawmakers Introduce Proposal to Ban Fracking by 2027

New legislation would ban all fracking in California by 2027, taking aim at the powerful oil and gas industry in the state already planning to ban the sale of new gas-powered cars by 2035. Progressive California has long been a …

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Settlement Reached in California Suit Alleging Franco Sexual Misconduct

A settlement agreement has been reached in a lawsuit that alleged James Franco intimidated students at an acting and film school he founded into gratuitous and exploitative sexual situations. A status report jointly filed by the two sides in Los …

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Lloyd’s Survey Results Show More Inclusive Culture, but Improvement Still Needed

Lloyd’s has made notable progress in its push to become more inclusive, according to its 2020 culture survey, but it still has plenty of room for improvement—especially when it comes to the experiences of Black and minority ethnic talent. The …

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Nine Injured, Two Seriously, in Explosion at New York City Residence

Authorities said nine people were injured, two seriously, after an explosion Thursday at a three-story New York City residence that blew out windows and sent a door flying into power lines. The report of an explosion on Paulding Avenue in …

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Facebook Employee Called Inflated Ad Metrics ‘Deeply Wrong’

Facebook Inc. internal emails made public in court reveal an employee’s concerns the company misrepresented advertisers’ estimated audience, calling the practice “deeply wrong.” But senior executives didn’t want to fix the problem because the impact on revenue would have been …

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Teen Sought in Fatal Bowling Alley Shooting Near Philadelphia Turns Himself In

A 17-year-old boy sought in connection with a bowling alley shooting near Philadelphia that left one person dead and four others injured has turned himself in, authorities said Monday. The teen faces numerous counts, including murder, attempted murder and aggravated …

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High Street Insurance Partners Acquires New York’s Badge Agency

Huron Capital Partners LLC, a lower middle-market private equity platform, has announced that its full-service insurance brokerage platform, High Street Insurance Partners (HSIP), has acquired Badge Agency Inc. Founded in 1968, Woodbury, New York-based Badge Agency is a full-service, multi-line …

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MAPFRE Insurance Hires Sjolin as Vice President of Business Development

MAPFRE Insurance has hired Gary Sjolin as vice president of Business Development. Sjolin, a 30-year industry veteran, will build and lead business development strategies in Massachusetts to reinforce and expand the company’s market position. Prior to joining MAPFRE, Sjolin held …

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Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions

A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction …

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Lloyd’s Insurer Brit to Stop Insuring Australia’s Adani Coal Mine

Major Lloyd’s of London insurer Brit will not insure Adani Enterprises’ Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd’s insurers who have made similar pledges. Carmichael has provoked controversy in Australia with its …

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BHSI Appoints MSIG’s Neumann as Head of Casualty in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced it has named Mathias Neumann as head of Casualty in Germany. Mathias has more than 20 years of experience in the insurance industry in Germany. He spent the last 14 years at MSIG Insurance …

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UK’s Aviva to Sell French Business for $3.9 Billion, Continuing Core-Market Strategy

Aviva Plc agreed to sell its French business for 3.2 billion euros ($3.9 billion), the largest deal so far in Chief Executive Officer Amanda Blanc’s push to streamline the UK insurer. The unit was sold to French mutual insurer Aema …

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U.S. Fraud Crackdown Eroding Private Equity’s Liability Shield

Insiders said one company pushed unnecessary pain medication to the U.S. military; another promoted an unproven treatment for children with cancer; and a third used unlicensed counselors to treat poor people with mental illness. In all three cases, taxpayers footed …

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Arch to Back Coalition Cyber Insurance Programs with Long-Term Capacity

Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Errors & Omissions insurance programs. The capacity will be available through Arch Insurance North America’s …

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Texas Ranchers Scrambled to Keep Animals Alive in Extreme Cold

Texas ranchers worked overtime to haul water and hay to cattle to keep them alive during a freak winter storm, but some cows succumbed to unusual icy temperatures that also killed chickens, idled meat plants and threatened crops. The deaths …

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Family of Woman Killed in New Orleans Float Accident Sues Carnival Krewe

The family of a woman killed in a float accident during the 2020 Nyx parade is suing the krewe, its captain, and the City of New Orleans. The family of Geraldine Turner Carmouche claims that the city, the Mystic Krewe …

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Judge Tosses Wife’s Suit Blaming Employer for Her Husband’s Covid

A federal judge tossed out a first-of-its-kind lawsuit that sought to hold an employer responsible for a worker’s spouse getting sick with Covid-19. U.S. District Judge Maxine M. Chesney in San Francisco on Monday dismissed the complaint filed by Corby …

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Mother of 11-Year-Old Who Died in Texas Freeze Sues Power Companies for $100M

The mother of an 11-year-old boy who died after they lost electricity and heat in their Texas mobile home during last week’s freeze has filed a $100 million lawsuit against two power companies for gross negligence. Maria Pineda said the …

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Drought Could Increase Fire Threat in Wyoming, Officials Say

Meteorologists in Wyoming have warned that low levels of precipitation across the state could increase the threat of wildfires over the summer. Tim Troutman, a meteorologist at the National Weather Service office in Riverton, told the Wyoming Tribune Eagle on …

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Cyberattack Strikes Pandemic-Besigned Navajo Nation Hospital

A pandemic-besieged hospital on the edge of the Navajo Nation says it has been the focus of a cyberattack. The nonprofit operator of Rehoboth McKinley Christian Hospital in Gallup issued a brief statement acknowledging “unauthorized activity” on its computer network. …

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Washington Port Commissioner Faces Suit over Helicopter Crash

Three people have filed a personal injury lawsuit against a Port of Skagit commissioner over alleged injuries sustained in a helicopter crash near Cypress Island. Helicopter passengers Christopher Neibauer and Ashley Walker, and Hannah Neibauer, who is married to Christopher …

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QBE Reports Full-Year 2020 Loss of $1.5 Billion; No Final Dividend Declared

QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance group pre-announced in late mid-December. The result represents nearly $1 billion downward swing from a $522 million net profit reported …

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Third Point Re Announces Appointments to SiriusPoint Leadership Team

Third Point Reinsurance Ltd. has announced additional executive and senior underwriting roles at SiriusPoint Ltd., the new company created as a result of the anticipated merger of Third Point Re and Sirius International Insurance Group Ltd. The leadership team announcements …

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Bills That Help First Responders Hit by COVID-19 Advance in Virginia

Virginia lawmakers have passed bills that allow certain first responders to file workers’ compensation benefits for being disabled from COVID-19, but still need to reach agreement on some differences. The measures would make COVID-19 an occupational disease for firefighters, emergency …

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Risk Strategies Promotes Hoffman, Smith to Managing Directors

Risk Strategies, a national specialty insurance brokerage and risk management firm, has promoted Tracy Hoffman and Matthew Smith to managing directors as part of planned leadership successions in both its Managed Health Care and Reinsurance practices. In her new role, …

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Big I Advantage Promotes Juratovic to Assistant Vice President for E&O

The Big “I” announced that Amanda H. Juratovic has been promoted to assistant vice president of errors & omissions operations at Big I Advantage. Juratovic will lead the Big “I” Professional Liability program, which offers member-only agency E&O coverage with …

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Ensurise Merges with Insurance Brokerage Operations of Howard Eales

Independent insurance agency Ensurise LLC has merged with the insurance brokerage operations of Howard Eales Inc., effective January 1, 2021. Howard Eales will continue to operate from its Washington D.C. location following the acquisition. Currently in its fourth generation of …

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Debris Could Threaten Operations in Space – as Well as Earthbound Activities

Hiscox, the specialist insurer, has called for action to tackle the growing problem of manmade space debris and the threat posed to current and future space operations. According to figures from the European Space Agency, there are believed to be …

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Fight Brewing over Insurer-Backed California Bill That Includes Autobody Shops

An insurance industry-backed California bill to create a new regulatory board for towing and storage companies under the California Department of Consumer Affairs has drawn opposition from the auto body industry. Assembly Bill 294 was introduced by Assemblyman Miguel Santiago, …

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Bursting Pipes, Sagging Roofs Strain Texas Adjusters, Contractors

After the big freeze in Texas comes the big thaw — and the big demand for workers to repair the broken pipes and sagging roofs the retreating ice and snow will reveal. It could take months for contractors to fix …

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About 1,000 EU Finance Firms, Such as Insurers, Eye Opening Post-Brexit Outposts in UK

Around 1,000 European Union finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory …

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Airlines Urged to Ground 777 Jets After United Falling Debris Incident

Boeing Co. urged airlines to suspend the use of 777 jets with the same type of engine that shed debris over Denver at the weekend after U.S. regulators announced extra inspections and Japan suspended their use while considering further action. …

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Uber’s UK Court Loss Likely to Trigger More Complaints from Gig Workers Across Europe

Uber Technologies Inc.’s defeat in a UK legal battle over the way it treats its drivers is set to trigger a wave of complaints from workers across the region. Britain’s Supreme Court ruled Friday that Uber must treat its drivers …

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Israeli Insurtech Earnix Reaches $1 Billion Valuation After Financing Round

Israeli startup Earnix Ltd., which uses advanced analytics to help insurers and banks offer personalized financial products, reached a $1 billion valuation in a financing round led by Insight Partners. Existing investors Jerusalem Venture Partners, Vintage Investment Partners and Israel …

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Insurer Wins Case Filed by New Orleans Restaurant that Filed Early COVID Claim

A New Orleans judge denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of the COVID-19 pandemic. The lawsuit …

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Risks of Business Failures ‘Remain Considerable,’ Says Fed

The risks of ongoing business failures in the United States “remain considerable” even as the economy emerges from the coronavirus pandemic, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress. Business borrowing “now stands near …

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Insurers Seek to Question Abuse Claimants, Lawyers in Boy Scouts Bankruptcy

The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores of them under oath …

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Researchers Testing If Wearable Wristwatch Can Detect COVID-19 Infection

University of Miami Miller School of Medicine researchers are recruiting health care workers to study whether a wearable device, a wristwatch, can capture real time data that can be used to alert wearers of subtle physiological changes that may indicate …

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Miami Business Owners Accused of Evading $300K in Workers’ Comp Premiums

An investigation by the Florida Department of Financial Services’ Division of Investigative and Forensic Services (DIFS), Bureau of Workers’ Compensation Fraud, has led to the arrest of two business owners for allegedly failing to pay more than $300,000 in workers’ …

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World Insurance Associates Acquires LCL Insurance of North Carolina

World Insurance Associates LLC (WIA) has acquired LCL Insurance LLC (LCL) of Charlotte, N.C. on Feb. 1, 2021. Terms of the transaction were not disclosed. According to Rich Eknoian, CEO and Co-Founder of WIA, the acquisition of LCL Insurance LLC …

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Insurance Losses From Texas Storm May Set First Quarter Record: A.M. Best

Insurers could suffer record first-quarter catastrophe losses after the historic Texas winter storm, which crippled the state’s electrical grid and caused extensive property damage including collapsed roofs and broken pipes, insurer credit rating agency A.M. Best said on Friday. The …

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Sovereign Claims Appoints Humphreys, Conolly to its Executive Team

Sovereign Claims LLC, an insurance risk management consultancy serving underwriters in the real estate development, general contracting and construction industries, has appointed John Humphreys and Neal Conolly to its executive team. Humphreys steps into the newly created role of chief …

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Lloyd’s Expects to Reopen Underwriting Room in April or May

Lloyd’s expects to reopen its underwriting room on Lime Street in London after Easter from April 12, or after the early May UK holiday on May 4. The decision will depend on the UK government’s update on the roadmap out …

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Viewpoint: Biometric Information Privacy Statutes Could Be a Minefield for Insurers

In recent years, there has been a dramatic increase in private entity use of biometric-dependent technology to assist with employee timekeeping, financial transactions and security. In turn, privacy concerns regarding biometric information have intensified, prompting legislators to enact statutory protections …

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A.M Best Upgrades E&S Insurance; Praises Resiliency, Clear Terms Amid Pandemic

A.M. Best has upgraded its outlook for the U.S. excess & surplus lines insurance sector citing its resiliency in the face of pandemic challenges. A.M. Best revised its outlook for U.S. E&S to Stable from Negative. “Despite the widespread impact …

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Fitch Sees ‘Modest’ Homeowners Insurance Underwriting Loss for 2020

The homeowners insurance industry is poised to shift to a modest underwriting loss for 2020, reports Fitch Ratings, citing losses from natural catastrophes and managing operations amid the global pandemic. However, barring another overly severe catastrophe season in 2021, the …

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UK to Set Up Green Finance Hubs to Encourage Banks, Insurers to Invest in Renewables

The UK will set up green finance hubs in Leeds and London as part of efforts to encourage lenders and insurers to invest in renewable energy and sustainable agriculture. The two cities will host the new UK Centre for Greening …

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Insurers Expect ‘Hundreds of Thousands’ of Claims from Texas Storm

U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of its losses from a winter storm that has crippled its electrical grid. Insurers’ losses could stretch into billions …

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UK Court Rules Uber Drivers Should Be Classed as Workers, in Blow to Business Model

LONDON – A group of Uber drivers are entitled to worker rights such as the minimum wage, Britain’s Supreme Court ruled on Friday in a blow to the ride-hailing service that has ramifications for millions of others in the gig …

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SPAC Backed by AmTrust Executives Files for $300M IPO

A blank-check firm, backed by AmTrust Financial Services Chief Executive Officer Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on Friday. Pine Technology Acquisition Corp. said it plans to sell 30 …

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Caribbean Agricultural Workers Keep Fighting for Compensation from Pesticide Exposure

SAN JUAN, Puerto Rico – Agricultural workers who have long sought compensation for contamination from a pesticide banned in France but used in the country’s Caribbean islands of Martinique and Guadeloupe have finally had a day in court after a …

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Swiss Re Reports Larger-Than-Expected Annual Loss of US$878 Million

Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects a return to profit in 2021. Swiss Re and …

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Specialty Lines MGA Ensurance Completes New Capacity Deal with AXA

Ensurance, the London-based specialty managing general agent, has announced a new capacity deal with AXA Insurance UK plc for its core construction and engineering products. AXA replaces Swiss Re as the MGA’s main capacity provider, effective from Feb. 1, 2021. …

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Officials: ‘Freak Storm’ Caused Deadly North Carolina Tornado

North Carolina Gov. Roy Cooper said Wednesday that the state must learn from the surprise tornado that struck Ocean Isle Beach with little or no warning, leaving three people dead and 10 injured. The governor surveyed the brunt of the …

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North Carolina Offering Altered Road Test for Teen Drivers to Receive Licenses

North Carolina’s Division of Motor Vehicles has started offering road tests to teen drivers again. The Raleigh News & Observer reports that the DMV had largely stopped the tests last March to prevent the spread of the coronavirus. The agency …

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Crum & Forster Adds Quaranta, Borovski to East, Southeast eRisk Teams

Crum & Forster has expanded its eRisk team with the addition of Cassie Quaranta as an executive underwriter in the Northeast Region and Vlad Borovskyi as an underwriter in the Southeast Region. Quaranta and Borovskyi will focus on underwriting cyber …

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Allianz Reports 2.2% Decrease in Q4 Net Profit

FRANKFURT – German insurer Allianz on Friday posted a smaller-than-expected 2.2% fall in fourth-quarter net profit, amid pressure on business from the coronavirus pandemic. The company posted net profit attributable to shareholders of 1.817 billion euros ($2.20 billion) in the …

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Citing Bias, Black Franchise Owner, Ex-MLBer, Sues McDonald’s

The Black owner of 14 McDonald’s franchises says the company has shown more favorable treatment to white owners and denied him the opportunity to buy restaurants in more affluent communities, according to a civil rights lawsuit filed in federal court …

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Why Industry Must Take Measurable Steps to Increase Diversity

A key takeaway from 2020 is the acknowledgement that change of a magnitude greater and more frequent than anyone had anticipated is upon us. One of the best ways for insurers and their business partners to embrace this momentum in …

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Oklahoma Legislation Would Require Tornado Safety Information in Hotels

Under legislation passed by the Oklahoma House of Representatives, new or renovated hotels and motels would be required to tornado safety information in every room and common areas. Rep. Denise Crosswhite Hader, R-Piedmont, who authored House Bill 1748, said the …

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$23.9M Returned to Missouri Insurance Consumers in 2020

The Consumer Affairs and Market Regulation divisions of the Missouri Department of Commerce and Insurance (DCI) helped consumers receive an additional $23.9 million from their insurance companies in 2020, the department reported. The monies were returned as a result of …

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OSHA: Missouri Plumbing Contractor Fined $299.5K for Trench Safety Violations

Barely two years after an Oak Grove, Missouri, plumbing contractor agreed to adopt a comprehensive trench safety program following the December 2016 death of an employee in an unprotected trench, federal inspectors responding to a complaint in August 2020 found …

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Winter Storm Uri to Generate Billions in Insured Losses: Moody’s

The massive winter storm that barreled through the mid-section of the United States and across the South in mid-February, hitting Texas particularly hard, will generate billions in insured losses, according to commentary by Moody’s Investors Services. The storm, which has …

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AIG Hikes Rates Up to 45%; Reports Interest in Life/Retirement Unit Sale

American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief executive on …

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Global Risk Partners Agrees to Acquire Marsh’s UK Networks Business

Global Risk Partners (GRP) has entered into an agreement to acquire the UK Networks business of Marsh, the global insurance broker and risk adviser. Terms of the transaction, which is subject to regulatory approval, were not disclosed. Completion is expected …

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Boeing Issues Safety Warning to Global Pilots in Wake of Indonesian 737 Crash

Boeing Co. has issued a safety bulletin reminding pilots of the steps required to ensure they maintain control of their aircraft in the wake of last month’s deadly plunge of an Indonesian jetliner into the Java Sea. The Flight Operations …

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Union Mutual of Vermont Companies Hires Hanus as Marketing Representative

Union Mutual of Vermont Companies has hired Jennifer Hanus as a marketing representative responsible for the southern New England writing territories of Connecticut and Western Massachusetts. She is currently based in Rhode Island. Hanus brings more than 10 years of …

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Captain Pleads Not Guilty to Manslaughter in California Dive Boat Fire

The captain of a scuba diving boat that burned and sank off the California coast, killing 34 people, pleaded not guilty this week to manslaughter charges. Jerry Boylan was arraigned in federal court in Los Angeles on 34 counts of …

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Risk Placement Services Hires Harvey as Executive VP in Its Brokerage Division

Risk Placement Services (RPS) has hired Jeff Harvey as executive vice president of casualty for its brokerage division. In this role, he will support growth of the large casualty practice in the Northeast region and provide additional support for the …

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Earthquake Warning System Rolling Out in Oregon, Washington

The earthquake early warning system known as ShakeAlert will be capable of delivering alerts directly to wireless devices in Oregon on March 11 and to Washington state in May, completing the West Coast rollout, the U.S. Geological Survey said. The …

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Five People, Four Companies Issued Fraud, Licensing Violation Orders in Maryland

The Maryland Insurance Administration (MIA) has issued civil administrative orders carrying penalties of nearly $500,000 against five individuals and four companies for insurance fraud and acting as public adjusters without a license. The administration noted in a press release that …

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Berkshire Hathaway Specialty Names 3 Regional Executives for Professional Lines

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its U.S. Executive & Professional Lines leadership team, naming Shelley Norman as senior vice president, Management Liability, Central region, and promoting Kevin Gallagher to senior vice president, Management Liability, East region, and Sean …

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Wife Sues Husband’s Employer Over COVID-19 Infection

A federal judge is weighing what she called a first-of-its-kind lawsuit that would hold an employer responsible for a worker’s spouse getting sick with Covid-19. Plenty of families have sued businesses, from retailers to meatpacking plants, claiming that unsafe workspaces …

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U.S. Charges 3 North Koreans in $1.3B Hacking of Banks, Sony, Others

The United States has charged three North Korean computer programmers with a massive hacking spree aimed at stealing more than $1.3 billion in money and cryptocurrency, affecting companies from banks to Hollywood movie studios, the Department of Justice said on …

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Many Firms Aren’t Paying OSHA Fines Levied for COVID-19 Safety Violations: Reuters

U.S. workplace safety regulators have announced more than $4 million in penalties on more than 300 employers they say put workers at risk during the COVID-19 pandemic. But about two-thirds of these employers aren’t paying up. Only 108 companies had …

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France to Boost Cyber Security Defenses After Attacks

President Emmanuel Macron announced new investment to bolster France’s cyber security defenses after two hospitals were struck by ransomware and the national security agency linked a large cyber attack spanning three years to Russian hackers. The government is earmarking around …

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Collapse of Stack at ArcelorMittal South Africa’s Steel Plant Kills 3

JOHANNESBURG – The bodies of three workers were found overnight at ArcelorMittal South Africa’s Vanderbijlpark Works, after the collapse of a coke battery stack at the steel plant the previous morning, the company said on Thursday. Africa’s biggest steel producer, …

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HDI Global Resets International Strategy for Liability Line, Expands Management Team

HDI Global SE (HDI) is resetting the strategy of its Liability Line and is expanding its management team that reports to Dr. Mukadder Erdönmez, member of the HDI Global SE Executive Board. Joining the management of the Liability Line (underwriting) …

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Australia Regulator Raises Antitrust Concerns over $30B Aon-Willis Towers Watson Deal

Australia’s competition regulator on Thursday raised initial concerns over Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, close on the heels of a similar move by EU antitrust regulators. The merger could significantly …

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Minnesota Business Owners Ruined by Protests Plead for Rebuilding Help

Owners of Minneapolis and St. Paul, Minn., businesses that were raided and burned during the violent protests over the death of George Floyd are appealing to state lawmakers for help with rebuilding. Several store owners in Minneapolis and St. Paul …

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Palomar Teams Up with Austin’s Technical Risk Underwriters on Builder’s Risk

Palomar Holdings Inc., a specialty property insurance headquartered in La Jolla, Calif., has forged an agreement with Technical Risk Underwriters (TRU), an Austin, Texas-based subsidiary of Ryan Specialty Group LLC (RSG), to facilitate Palomar’s expansion in the builder’s risk market. …

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Newfront Insurance in California Adds AmTrust Surety’s Spruill-Iqbal

San Francisco, Calif.-based Newfront Insurance has named Lindsay Spruill-Iqbal a principal and surety producer. Spruill-Iqbal joins Newfront from AmTrust Surety. Spruill-Iqbal has more than 15 years of marketing and underwriting experience within the surety industry. Newfront is a tech-enabled insurance …

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Berkshire Hathaway Discloses $499M Investment in Marsh & McLennan

Warren Buffett’s Berkshire Hathaway Inc. on Tuesday announced two major new investments, revealing an $8.6 billion stake in the phone company Verizon Communications Inc. and a $4.1 billion stake in oil company Chevron Corp. The investments were disclosed in a …

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3 Scenarios for Who Owns the Future of the Insurance Industry

The question is not whether the future of the insurance industry is bright. “Few industries are better positioned for outstanding growth over the next 15 years,” insists Verisk’s Mark Anquillare. Anquillare points to the giant global protection gap between what …

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100 Animals Killed in Fire at Indianapolis Pet Store

An estimated 100 animals died when an overnight fire filled an Indianapolis pet store with thick smoke and deadly gases, fire officials said. It took firefighters about an hour to extinguish the blaze at Uncle Bill’s Pet Center on Monday …

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NTSB Will Investigate Deadly 130 Vehicle-Plus Crash in Texas

National Transportation Safety Board said it would investigate a massive crash involving more than 130 vehicles on an icy Texas highway that killed six people and injured dozens more. The NTSB said on Twitter that its safety investigation would focus …

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NTIS Transportation Insurance Services in California Moves to Las Vegas

NTIS Transportation Insurance Services has relocated from Laguna Hills, Calif., to Las Vegas, Nev. The California staff will now work remote. The firm has also added new staff and additional truck insurance markets. NTIS is a wholesale broker and program …

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AHT Insurance Partner Schermerhorn Elected as Chairman of TechAssure Association

AHT Insurance, a Baldwin Risk Partner, has announced that Partner Brian Schermerhorn was recently elected as chairman of TechAssure Association Inc., a consortium of independent insurance agents and brokers who focus on technology-related risks and have expertise in technology, life …

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New York Attorney General Sues Amazon Over COVID-19 Shortfalls

New York Attorney General Letitia James sued Amazon.com Inc on Tuesday over its handling of worker safety issues around the COVID-19 pandemic at two warehouses, just days after the retailer filed its own lawsuit seeking to block her case. In …

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Spain Prepares Labor Laws that Could Force Food Delivery Apps to Employ Gig Workers

The Spanish government is preparing strict labor law changes that could mean food-delivery platforms have to formally employ the couriers they rely on. Under rules expected to be proposed as soon as this week, companies such as Uber Eats, Deliveroo …

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Corporate Filings Reveal Pay Gap for Female Executives Narrows But Persists

Even women who make it to the top ranks of U.S. corporations face a persistent pay gap compared with men in leadership roles, a new study of corporate filings found. Among companies in the Russell 3000 index, covering most of …

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Ex-UniCredit CEO Teams Up with France’s Richest Man to Form SPAC for Financial Deals

PARIS – Former UniCredit boss Jean-Pierre Mustier is teaming up with France’s richest man Bernard Arnault to launch a special purpose acquisition company (SPAC) aimed at European financial deals, as a boom in blank check vehicles spreads from the United …

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UK Highlights Rising Political Risk in New Business Guidance on Hong Kong

The UK highlighted increasing political risks in its latest guidance on conducting business in Hong Kong, pointedly dropping references to relations with its former colony as “positive” and “beneficial.” The UK government updated its guidance Tuesday for the business risk …

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Swiss Re Corporate Solutions Appoints Neon’s Dougall as Global Head Casualty

Swiss Re Corporate Solutions has appointed Andrew Dougall as global head casualty, effective Feb. 22, 2021. In this leadership role, Dougall will be responsible for driving the success and overall profitability of the Bespoke Casualty portfolio globally. As well as …

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As Metal Prices Rise, Atlanta Sees Theft of Catalytic Converters

Soaring prices for precious metals contained in some auto components is driving a rash of thefts in coastal Georgia. The Brunswick News reports 18 catalytic converters have been stolen from three truck rental companies in Brunswick in recent weeks. Thieves …

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Explosion at Florida Sanitation Complex Destroys 5 Garbage Trucks

An explosion and fire destroyed five garbage trucks and damaged two others at a sanitation complex in the Florida Panhandle. The flames erupted Sunday afternoon at the station in Escambia County, Emerald Coast Utilities Authority said in a statement. The …

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Miami Insurance Agent Arrested in Identity Theft Fraud Scheme

A Miami insurance agent has been arrested for allegedly stealing personal account information to file false insurance applications and collect commissions from the insurance company, according to a statement from the Florida Department of Financial Services. An investigation conducted by …

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$4.5M Settlement Offered in Police Shooting of Alton Sterling in Louisiana

After a $5 million proposed settlement fell through, officials in a Louisiana parish are now offering $4.5 million to settle the civil lawsuit brought by the family of Alton Sterling, a Black man who was killed in 2016 by police …

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Indiana COVID-19 Lawsuit Shield Legislation Sent to Governor

A bill giving Indiana businesses and others broad protections from lawsuits by people blaming them for contracting COVID-19 has been given final approval by state lawmakers. The Republican-dominated state Senate voted 39-7 to send the bill to GOP Gov. Eric …

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Brence Named Shareholder at Swingle Collins & Associates in Dallas

Dallas-based Swingle Collins & Associates has named Collin Brence as the agency’s newest shareholder. Brence is the youngest individual to earn the shareholder title in the agency’s 39 years. He joined Swingle Collins as a commercial producer in 2015 after …

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AIG Sees ‘Continued Progress’ Despite P/C Underwriting Loss of $171 Million in Q4

American International Group’s property/casualty business booked a $171 million underwriting loss in the 2020 fourth quarter, barely a year after the insurer celebrated the division’s return to profitability. COVID-19 and other catastrophe losses contributed largely to the General Insurance division’s …

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IVANS Survey Finds Agencies and Insurers Seek Greater Connectivity

Both agents and insurers express strong support for agent-insurer connectivity and digital collaboration in distribution and servicing. On agency demand for connectivity, 71% of agencies rank the availability of digital connectivity as the highest priority when selecting an insurer with …

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The Liberty Company Adds Ruggles in California

The Liberty Company Insurance Brokers has added Mark Ruggles. Ruggles will be based in Northern California. He has more than 30 years in the industry with past stops at Brown & Brown, McGriff, and most recently DSS. The Liberty Company …

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Uber Urges EU to Recognize GIG Business Model As UK Court Is Set to Rule

Uber on Monday called on EU regulators to recognize the value of independent contracts in job creation as they consider new rules to protect gig economy workers. The company has been criticized for classifying its drivers as independent contractors rather …

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New QBE Custom Property Coverage Form Targets Mid-Size Company Risks

QBE North America has launched a new modular property form designed to give underwriters and brokers the ability to tailor a program for each individual customer. The QBE Custom Property product contains 33 additional coverages, 50 property endorsements, and 22 …

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Monahan Returns to Appalachian Underwriters in Florida as P&C Senior Broker

Appalachian Underwriters, Inc. (AUI) has appointed Kimberly Monahan to its Brokerage Department as a property and casualty broker. Monahan is located in Daytona Beach, Fla., and will be working to cover the Northeast Coast of Florida over to the Panhandle. …

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150 Years of Spills: Philadelphia Refinery Cleanup Reveals Toxic Legacy of Fossil Fuels

Wearing blue hard hats, white hazmat suits and respirator masks, workers carted away bags of debris on a recent morning from a sprawling and now-defunct oil refinery once operated by Philadelphia Energy Solutions (PES). Other laborers ripped asbestos from the …

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Citrus Crop Losses Expected in Texas After Deep Freeze

The historic cold snap that has frozen Texas this week with brutal winter weather and brought snow all the way to beaches along the Gulf of Mexico is also bringing headaches for citrus growers at the southern tip of the …

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Done Deal: Bold Penguin Is Now a Subsidiary of American Family

Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses. The Bold Penguin technology is used by insurance agents, brokers and other distributors to match, quote and bind policies from …

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Freeze Slams Texas; Power Could Be Out for Days

The deep freeze that has forced the shutdown of U.S. refineries, oil wells and meat plants, disrupted shipments of soybeans and corn, and is still leaving more than 3 million customers without electricity could continue to keep parts of Texas …

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UK Judge Rules Newspaper Violated Duchess Meghan’s Privacy in Publishing Letter

LONDON — A newspaper invaded the Duchess of Sussex’s privacy by publishing personal letter to her estranged father, a British judge ruled Thursday, in a major victory for the royal in her campaign against what she sees as media intrusion. …

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Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits

Waitr Inc. never had the resources of rivals Grubhub Inc. and UberEats. Yet in November 2018 the online food ordering and delivery business went public through a merger with blank-check firm Landcadia Holdings Inc. Landcadia had some powerful names behind …

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Macif Seen as Favorite to Buy $3.6B Aviva France; Talks to Sell Italian Unit Advance

Aviva Plc, the British insurer, is in advanced talks on a sale of its Italian operations as it pushes ahead with about 6 billion euros ($7.3 billion) of divestments, people with knowledge said. The U.K. company is in negotiations to …

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Most Oregonians Applying for Disaster Aid After 2020 Wildfires Denied

More than 24,000 Oregonians applied for federal disaster assistance after the catastrophic 2020 wildfires and about 57% of them were denied. Jefferson Public Radio reports that nearly 14,000 Oregonians have been denied aid, according to data provided by the Federal …

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USI Insurance Services Acquires Inland Insurance in Washington

USI Insurance Services has acquired Spokane, Wash.-based Inland Insurance Inc. Terms of the deal were not disclosed. Inland Insurance is an independent risk management and employee benefits agency serving businesses and individuals throughout eastern Washington. Valhalla, N.Y.-based USI is an …

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Progressive to Buy Transportation Insurer Protective for $338 Million

The Progressive Corp. is acquiring Indiana-based trucking industry insurer Protective Insurance Corp. in a move that will increase its stake in the commercial lines insurance market. Progressive has agreed to pay $23.30 per share in cash, for a total transaction …

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Ice Storm Leaves Thousands Without Power in Mid-Atlantic

Ice and freezing rain from a winter storm moving through the mid-Atlantic region knocked down trees and power lines and left tens of thousands of people without power Saturday. Dominion Energy reported some 130,000 customers in Virginia without power Saturday …

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With Crashes Down, Massachusetts Lawmakers Want Lower Car Insurance Rates

Lawmakers and the attorney general’s office want a state agency to force car insurance providers to lower rates for Massachusetts customers. The pandemic has kept many drivers off the road, meaning thousands of fewer accidents in 2020 compared with the …

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Core Assurance Partners Names Brandau as President, Russell as Vice President

Core Assurance Partners Inc. has named Zack Brandau as the organization’s president and Will Russell as vice president. Brandau will continue to lead the firm’s daily operations and drive strategic growth initiatives. He is a founding principal of the firm. …

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AXA XL Names O’Malley as U.S. Country Manager

AXA XL has appointed Matthew V. O’Malley as U.S. Country manager. In October 2020, AXA XL launched a new operating model which included a new zone structure in the U.S. In the new structure, O’Malley was appointed AXA XL’s East …

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Fire at Indian Firecracker Factory Kills at Least 12, Police Report

At least 12 people were killed in a fire at a firecracker factory in the southern Indian state of Tamil Nadu last Friday, police said. Raja Narayanan, a regional police official, said an investigation was under way into what caused …

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Zaffino to Succeed Duperreault as CEO of AIG March 1

American International Group (AIG) has officially named Peter S. Zaffino as chief executive officer, succeeding Brian Duperreault, AIG’s current CEO, who will become executive chairman of the board. Both moves are effective March 1, 2021. Duperreault’s move to executive chairman …

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Brown Reappointed as Texas Workers’ Compensation Commissioner

Cassie Brown has been reappointed by Gov. Greg Abbott as Commissioner of Workers’ Compensation at the Texas Department of Insurance (TDI) for a term set to expire on Feb. 1, 2023. Brown has led the Division of Workers’ Compensation since …

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Post-Pandemic: Will Employers or Workers Have Upper Hand?

It’s been a year now since we came under the relentless domination of the coronavirus. After all this time, the picture isn’t pleasant. The end is uncertain and the implications for the future are far from clear. McKinsey reports that …

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California Commissioner Names Morales Diversity Task Force Leader

California Insurance Commissioner Ricardo Lara has named Mark Morales to lead the California Department of Insurance’s Diversity Task Force, the first LGBTQ+ person named to the post. Morales replaces Sal Peinado, Jr. He will lead the first quarterly meeting of …

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California Mother, Son Arrested for Fraud Involving Aston Martin

Ahmad Haris Tajyar, 45, and his mother, Malalay Tajyar, 70, both of Porter Ranch, Calif., were arrested on one felony count of insurance fraud each after allegedly filing a false auto insurance claim and making fraudulent statements in order to …

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Lloyd’s Construction Specialists Say They Are Ready For U.S. Infrastructure Boom

Construction insurance specialists at Lloyd’s of London are hoping to see more U.S. business from increased government investment in infrastructure projects in 2021. That will be welcome after a period of dealing with requests to step in on U.S. construction …

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Newfront in California Adds Gallagher’s Pedisich

San Francisco, Calif.-based Newfront Insurance has added Nick Pedisich as a principal and commercial insurance broker. He joins Newfront from Gallagher, where he was the area vice president. Prior to that, he had leadership and sales roles at EPIC Insurance …

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GM Settles With California Over Ignition Switch Statements for $5.75M

General Motors Co. agreed to a $5.75 million settlement to resolve allegations it made false statements to California’s largest pension system and other investors over its deadly ignition switch recalls. California Attorney General Xavier Becerra said the largest U.S. automaker …

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Microsoft Exec Calls SolarWinds Hack ‘Largest, Most Sophisticated Attack’ Ever

A hacking campaign that used a U.S. tech company as a springboard to compromise a raft of U.S. government agencies is “the largest and most sophisticated attack the world has ever seen,” Microsoft Corp. President Brad Smith said. The operation, …

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Former School Bus Employee Arrested in $50K Florida Insurance Fraud Scheme

A former Miami-Dade County school bus driver was arrested for allegedly filing numerous fraudulent insurance claims and collecting approximately $50,000 from the alleged scheme, according to a statement from the Florida Department of Financial Services. This case is part of …

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Ullico Partners, Hagerty Group to Offer Collector & Classic Car Coverage to Union Members

Ullico has partnered with The Hagerty Group, LLC to offer Hagerty’s insurance for classic, collector and enthusiast vehicles. Per the partnership, Hagerty’s insurance will be offered through UnionCare, a Ullico Casualty Group affiliate that markets insurance and other products to …

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Insurors of Tennessee Promotes Layman, Smith

Insurors of Tennessee has promoted Jim Layman to general counsel and appointed Daniel Smith as chief operating officer. The two will continue in their efforts to help grow the association – which represents independent insurance agents across the state. Layman, …

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UK Supreme Court Allows Suit Against Shell by Nigerian Farmers, Fishermen Over Oil Spills

The UK Supreme Court on Friday allowed a group of 42,500 Nigerian farmers and fishermen to sue Royal Dutch Shell (RDS) in English courts after years of oil spills in the Niger Delta contaminated land and groundwater. Senior judges said …

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UK Supreme Court to Rule This Week on Workers’ Rights for Uber Drivers

LONDON — Britain’s Supreme Court will announce a decision on Feb. 19 in a case regarding workers’ rights at taxi app Uber that could have ramifications for millions of others earning a living in the gig economy. In a case …

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Q&A With David Altmaier, President, National Association of Insurance Commissioners

Florida’s insurance regulator has a busy year ahead, and it won’t just include overseeing his own state’s insurance market, one of the most dynamic and complicated insurance markets in the world. Rather, for the next year, Insurance Commissioner David Altmaier …

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Oil Company Paying $1.9M for Wyoming spills

An oil company has agreed to pay almost $2 million for spilling crude oil and wastewater at two central Wyoming oilfields. The spills happened between the fall of 2016 and spring of 2018. One was in the Linch Complex Field …

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Montana Governor Signs Virus Lawsuit Liability Shield

Montana Gov. Greg Gianforte signed a bill this week intended to protect businesses and health care providers from coronavirus-related lawsuits. Gianforte said the new law will allow businesses to safely open during the pandemic. He also said enough vulnerable Montana …

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Investors Eye Windfall From Denied COVID-19 Insurance Claims

A growing market niche where investors profit from others’ legal troubles is getting a boost from Covid. Distressed-investing funds and litigation-finance boutiques are likely to be spoiled for choice after a landmark U.K. court ruling last month rejected pleas from …

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Germany’s Cabinet Advances Bill to Ban Farmers’ Use of Glyphosate by 2024

Farmers in Germany will have to gradually reduce their use of glyphosate and stop using it completely from 2024 in order to preserve clean habitats for insects, under draft legislation passed by the country’s cabinet on Wednesday. “The exit from …

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Marsh & McLennan Hires Diversity Officer With Experience at Starbucks, NBA

Global insurance and professional services firm Marsh & McLennan Cos. announced that Nzinga Shaw will join the company as chief Inclusion & Diversity officer effective February 16. Shaw most recently served as Starbucks Coffee Co.’s global chief Inclusion & Diversity …

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Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling

Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the regulator. Ireland’s High Court ruled on Feb. …

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Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake

Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected earnings hit was offset by …

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Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims

Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings. Insurers have faced hefty claims from event cancellations and …

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Bond Insurer MBIA Agrees to Settle Mortgage Claims Against Credit Suiss

New York-based municipal bond insurer MBIA Inc.’s unit MBIA Insurance Corp. entered an agreement to settle a litigation it filed in 2009 against lender Credit Suisse and certain affiliated entities over property debt in the United States. The settlement followed …

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New York Woman Arrested for Fraudulently Obtaining More Than $200K of iPhones

A Bronx, New York, woman has been arrested and charged with fraudulently obtaining more than $200,000 worth of iPhones, Acting U.S. Attorney Rachael A. Honig announced. Rosanna Lucrecia Cruel Blanco, 39, was charged by criminal complaint with one count of …

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Baltimore County School Board to Address Ransomware Attack

The Baltimore County Board of Education has approved more than $1.7 million in contracts for services that were necessary after a ransomware attack on school systems in November. Administrators told board members that they expect the school system’s cyber insurance …

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Florida Consumers ‘Flabbergasted’ by Property Insurance Rate Hikes

Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to award them big fees. The …

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Amazon Sues New York Over COVID Workplace Safety, Firing Lawsuit

Amazon.com Inc. on Friday sued New York’s attorney general to stop the state from taking legal action over its early COVID-19 response, including its firing of activist Christian Smalls. The retailer drew scrutiny 10 months ago when workers protested conditions …

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Lawmakers Vote to Extend Georgia COVID Lawsuit Shield by One Year

The Georgia state House has voted in favor of extending by one year a law that protects businesses from being sued by a person that blames them for contracting COVID-19. The protection is currently set to expire on July 14. …

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Cody Appointed President of Orchid Insurance

Kathy Cody has been appointed president of Orchid Underwriters Agency, LLC (Orchid Insurance), a specialty underwriter of catastrophe-exposed property insurance. Brad Emmons, chief executive officer at Orchid, said Cody, who joined Orchid Insurance in 2019 as chief operating officer, has …

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Parkland Parents Lose Bid to Hold District Liable for Not Warning of Student Danger

A Florida judge has ruled that a local school district had no responsibility to warn students and faculty at Marjory Stoneman Douglas High School of the danger posed by a former student who would later be accused of a mass …

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Kotch Joins Core Specialty Insurance in Ohio as Chief Information Officer

Core Specialty Insurance Holdings Inc. (Core Specialty), based in Cincinnati, Ohio, has appointed Mary Kotch as chief information officer and member of the company’s executive committee. Kotch has more than 20 years’ experience in strategic technology innovation, application shared services, …

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Robles Joins XPT Partners in Texas as VP, Senior Transportation Broker

XPT Partners, a national specialty insurance distribution company, has added excess transportation expert Alex Robles as vice president and senior broker in its Plano, Texas, office. Robles will concentrate on excess transportation brokerage while also contributing to XPT’s National Transportation …

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EU Experts Hit Roadblock in Trying to Resolve Tech, Carmakers’ Patent Dispute

European Union efforts to resolve a patent dispute between tech companies and carmakers have hit a roadblock after experts enlisted for advice failed to agree on the level of royalties or who should pay them. Tech firm Nokia and automaker …

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CIG in California Names Cummins Assistant Vice President, Hepner Regional Field Executive

Monterey, Calif.-based Capital Insurance Group has promoted Scott Cummins to assistant vice president in personal lines, and Pauleen Hepner to regional field executive. Cummins will oversee personal lines underwriting, product, and processing, as well as client services for all states …

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South Dakota’s Noem Plans to Stall Legalization of Medical Pot

South Dakota Gov. Kristi Noem promised she will honor the will of voters to legalize pot for medical use, just not this year. The Republican governor announced a plan to delay legalization of medical marijuana until July 1, 2022, saying …

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Wisconsin Gov. Proposes Legalized Marijuana — Recreational and Medical

Wisconsin Gov. Tony Evers has proposed legalizing marijuana and regulating and taxing it like the state does alcohol. Evers made the proposal in his 2021-23 biennial budget, which estimates that legal marijuana would generate more than $165 million annually beginning …

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In Succession Move, Canopius Names AXA XL’s Robertson Deputy CEO

Specialty insurer and reinsurer Canopius Group announce that Neil Robertson has been appointed Group deputy chief executive officer, with effect from May 4, 2021. In this capacity, Robertson will report to Michael Watson, Group chairman and CEO. The company said …

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Massachusetts Superior Court Says Woman’s Medical Malpractice Claims Can Proceed

A Massachusetts superior court has ruled that a woman can bring claims for medical malpractice and unfair consumer practices against a hospice company for overmedicating her with narcotics and falsely certifying that she was hospice eligible. Plaintiff Patricia Marble and …

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Florida Cyber Attack Raises Alarms Over Security of Water Treatment Plants

A hacker’s botched attempt to poison the water supply of a small Florida city is raising alarms about just how vulnerable the nation’s water systems may be to attacks by more sophisticated intruders. Treatment plants are typically cash-strapped, and lack …

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Securities Regulators Back International Climate Risk Disclosure Body

Global market regulators have thrown their weight behind plans for a new international standards body for company disclosures on climate risks and sustainability, saying it would cut the scope for so-called greenwashing. The current patchwork of voluntary public and private …

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Brexit Boosts Amsterdam Ahead of London as Europe’s Top Stock Trading Center

Amsterdam has displaced London as Europe’s biggest share trading center after Britain left the European Union’s single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday. Stock exchanges in the …

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Preliminary Report Finds Throttle Problem in Sriwijaya Air Jet That Crashed

JAKARTA —The Sriwijaya Air plane that crashed last month killing 62 people had an imbalance in engine thrust that eventually led the plane into a sharp roll and then a final dive into the sea, a preliminary report by investigators …

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Pittsburgh Building at Least 141 Years Old to be Demolished After Fire

Authorities say a multistory building on Pittsburgh’s South Side built at least 141 years ago will be demolished on safety grounds after a massive fire and partial collapse. “After a partial collapse, the structure is considered structurally unsound,” Pittsburgh Public …

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Another Winter Storm Brings More Snowfall to Northeast

Another winter storm brought additional snowfall to the Northeastern U.S. on Tuesday on top of a major snowstorm that hit the region Sunday. The snow totals are expected to be far less than the storm that pushed through the region …

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German Court Says EY Auditors Must Testify Before Parliamentary Panel About Wirecard

Two Ernst & Young auditors were told by a German court that they must testify before a parliamentary committee about their accounting work for scandal-ridden Wirecard AG. The ruling gives EY clarity about how much information it may disclose under …

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A Snowstorm that Cost Nearly $2.2B and Other January Natural Catastrophes: Aon

A snowstorm in Spain, called “Filomena,” caused business interruption and property losses estimated at nearly €1.8 billion ($2.2 billion), according to Aon’s monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during …

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Kin Insurance Launches Landlord Insurance in Florida Market

Kin, an insurance technology company, has launched its landlord insurance plans in the Florida market. Kin’s landlord insurance applies to property owners who rent out their detached homes and townhouses. It also covers investors who rent properties on Airbnb. This …

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Allianz Makes Personnel Changes to Georgia-Based Aviation Team

Allianz Global Corporate & Specialty’s (AGCS) North American Aviation team has promoted two executives and hired a new underwriting specialist, effective immediately. Lamont Rosemond has been promoted to regional head of Aviation Programs and Product Development in North America. He …

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Head of South Carolina Workers’ Comp Fund Ousted Over Deal with Husband’s Firm

South Carolina Gov. Henry McMaster on Monday removed the head of the State Accident Fund, calling for an investigation into whether she improperly steered a $600,000 government contract to her husband’s company. In a letter, McMaster asked State Inspector General …

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