Insurers Taking Note of Big Verdicts, But Trial Lawyers Say Don’t Count on Safety Changes

When CVS Pharmacies, just weeks after a Georgia appeals court upheld a $43 million premises liability verdict against the company, announced that it was closing 900 stores around the country, some saw it as a sign of the times. “Yes, …

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Labor Group Calls for Probe of Amazon’s Reporting of Covid Cases at Facilities

Amazon.com Inc. provided “misleading or grossly incomplete” data about the number of Covid-19 infections potentially spread in its U.S. facilities, according to a labor group calling on the federal government to investigate the company. Of the almost 20,000 employees the …

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Biden Administration Extends Comment Period on OSHA Vaccine Rule to Jan 19

The Biden administration on Tuesday extended the comment period on its sweeping workplace COVID-19 vaccine rule by 45 days as it seeks feedback from various stakeholders including private employers on whether a recently issued emergency temporary standard should become a …

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Judge Asks If Opioid Maker Purdue’s Owners Abused Bankruptcy to Shield Assets

A U.S. judge on Tuesday questioned whether members of the Sackler family that owned Purdue Pharma abused the bankruptcy system, as she considers whether to overturn a ruling that shielded the Sacklers from liability over the opioid epidemic. U.S. District …

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The Liberty Company Insurance Brokers Acquires D.E.P. in California

The Liberty Company Insurance Brokers acquired D.E.P. Insurance Services Inc. in Huntington Beach, California. Terms of the deal were not disclosed. D.E.P. Insurance Services is owned by Don Phoenix, and has been in business since 2001. The firm specializes in …

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New York Seeks Monitor to Oversee Amazon Worker Safety

New York state’s attorney general on Tuesday asked a state judge to appoint a monitor to oversee worker safety at an Amazon.com Inc. fulfillment center in New York City, citing the retailer’s alleged rollbacks of COVID-19 safety measures that were …

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Indianapolis School District Joins Vaping Lawsuit

Indianapolis Public Schools has become the latest Indiana school district to join a lawsuit that accuses e-cigarette giant Juul Labs of marketing its vaping products to young people. IPS is one of hundreds of U.S. school districts, including 10 others …

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Average Price of Washington Workers’ Com Going up Slightly in 2022

The Washington Department of Labor & Industries announced a 3.1% increase in the average worker’s compensation premium rate for hours worked in 2022. “A modest hike is needed because of the rising costs to provide workers’ compensation coverage. It’s the …

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Brightway Insurance Expands into Nevada, Opens More Locations in California

Brightway Insurance opened of 12 new franchise locations in October and November, with new locations in Nevada and California. Richard Hancock opened Brightway, The Hancock Agency in Las Vegas, Nevada, the first of the franchise’s units in that state. The …

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M3.0 Earthquake Confirmed in Southern Utah

A minor earthquake struck parts of southern Utah, the U.S. Geological Survey confirmed. The quake struck on Friday morning, had a preliminary magnitude of 3.0 and was centered about 7 miles west of Panguitch, the USGS said. It happened at …

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Some Lessons Learned from Wildfire That Nearly Destroyed Tahoe

The devastation starts on the western slope. Many of the cabins that once lined the highway between here and Sacramento are now gone. Instead, brick and stone chimneys stand sentinel, visible through blackened toothpick trees that dot the mountainsides. Gray …

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Where Employers Stand on Vaccine Mandates, ‘New Normal’ Workplace, Remote Work, Travel

Although more than half (57%) of U.S. employers say they require or plan to require COVID-19 vaccinations of employees, much of that support depends on whether courts approve the Biden Administration’s emergency workplace safety rule requiring vaccinations or weekly testing, …

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Big Fire Gutted Large Commercial Building in California

A raging fire gutted a textile business in a large commercial building south of downtown Los Angeles. The fire, which occurred on Thursday, was the second fire at the site that week. The fire was reported just before 8 p.m. …

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OSHA Fines Georgia Grading Contractor $20,480 after Worker’s Death

If federal workplace safety requirements had been followed, a 24-year-old Georgia worker would not have been killed in a front-end loader accident in May, the U.S. Occupational Safety and Health Administration said. OSHA fined Mathis Grading Inc. $20,480 after an …

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Tennessee Approves 5.6% Cut in Workers’ Comp Loss Costs; COVID Impact Uncertain

The Tennessee commissioner of commerce and insurance has ratified a 5.6% decrease in workers’ compensation loss costs for voluntary market in 2022, which will result in the ninth straight year of rate decreases for many businesses in the state. “These …

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Zywave Acquires Insurance Distribution, Quoting Software Firm ClarionDoor

Milwaukee-based Insurance technology firm Zywave reports it has acquired Santa Barbara, Calif.-based ClarionDoor, a seller of insurance product distribution software for the property/casualty market. Zywave said ClarionDoor’s digital distribution products for carriers and managing general agencies complement its own configure, …

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Lawsuit Alleges Discrimination at Wilmington Fire Department

A firefighter in Delaware is accusing the Wilmington Fire Department of years of racial and religious discrimination that he says created a hostile work environment. The News Journal reported that the lawsuit was filed in federal court by veteran firefighter …

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Applied Specialty Underwriters Launches New Infrastructure, Construction Practice

Applied Specialty Underwriters has launched a new infrastructure and construction practice and named Christopher Day as president. Additionally, John Schlosser has been named to lead the infrastructure underwriting section. The newly formed practice will respond to increased demand for infrastructure …

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Delaware Workers’ Compensation Insurance Rates to Decrease for Fifth Year

Delaware Insurance Commissioner Trinidad Navarro announced that workers’ compensation insurance rates in the state will decrease for the fifth year in a row, effective December 1, 2021. The voluntary market is seeing another double-digit decrease in voluntary market loss costs, …

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People Moves: QBE Names Liberty Mutual’s Hunter as Dir. of Canada; Amwins Global Risks Hires Apollo’s Graham for Casualty; Ardonagh Promotes 2 Snr. Leaders

This edition of International People Moves details appointments at the insurer QBE Canada and brokers Amwins Global Risks and Ardonagh Group. A summary of these appointments follows here. QBE Appoints Liberty Mutual’s Hunter as Director of Canada QBE has appointed …

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China’s Regulator Issues New Rules for Risk Management of Insurance Groups

China’s banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate their investments in other companies. The move is aimed at curbing …

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Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.

Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer, effective from …

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Bain Capital Makes Final Pitch for UK Mutual Insurer LV=

Bain Capital has made a final pitch to members of British insurer LV= to back its takeover bid, after a lengthy sale process that’s drawn a dozen offers as well as political heat about preserving mutual firms. The deal will …

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China Sets Rules to Protect Drivers’ Rights in Ride-Hailing Industry, Requiring Insurance

BEIJING – China outlined new rules on Tuesday to safeguard the rights of drivers in its giant ride-hailing industry, requiring operators of the services to provide them with social insurance and make their earnings public. In a statement, the transport …

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Australia’s Westpac Bank to Pay $80.6M in Penalties, Admits Charging Dead People

Westpac Banking Corp. agreed to pay A$113 million ($80.6 million) in penalties after the Australian regulator alleged the lender had widespread compliance failures that included charging dead people. The case includes a claim that Westpac charged more than A$10 million …

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Owners of Thai Insurer Syn Mun Kong Explore Sale of Majority Stake

The controlling shareholders of Thai insurer Syn Mun Kong Insurance Pcl are exploring the sale of a majority stake in the firm and have picked several strategic players to advance into the next round of bidding, according to people familiar …

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McGriff Names Two to National Positions

Charlotte-based Insurance broker McGriff, a subsidiary of Truist Holdings, announced the promotion of two long-time officers. Crystal Sanderson, now senior vice president and director of McGriff’s sales center, will become practice leader for national personal lines and small business, the …

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Georgia, North Carolina Move to Beef up Benefits for First Responders

Two Southern states have taken steps to provide improved benefits for first responders who suffer from mental conditions and from cancers that may be linked to workplace hazards. In North Carolina, lawmakers approved a state budget that includes a supplemental …

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Fired Engineers Claim Google Failed to Honor Its Own ‘Don’t Be Evil’ Motto

A group of former Google employees sued the Alphabet Inc. unit on Monday alleging that it breached their employment contracts by not honoring its famous motto “don’t be evil.” In the lawsuit filed in California state court in Santa Clara …

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Why Jury’s Opioid Verdict Against Pharmacy Chains May Not Survive Appeal

While a Cleveland jury concluded Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. exacerbated Ohio’s opioid epidemic with lax oversight of prescription painkillers, the verdict may not survive on appeal, according to legal experts. The companies, which vowed …

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Takeaways from Our Conversation on State Cannabis Regulations and Their Impact on Insurance

Ever heard of a gram shop law? It’s a thing, and if you’re an insurance broker in Michigan focused on the cannabis space, then you and your clients are well aware of the term. The law, signed by Gov. Gretchen …

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How Common Are Ransomware Attacks? Lawmakers Want to Find Out.

After his local library had to shut down because of a ransomware attack, Indiana state Rep. Mike Karickhoff realized the state didn’t know much about the frequency of such security breaches. Spurred by similar crimes across Indiana last year, he …

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California Turning Down Most Fracking Permits Ahead of 2024 Ban

California regulators haven’t approved permits for the controversial oil and gas extraction process known as fracking since February, effectively phasing out the process ahead of Gov. Gavin Newsom’s 2024 deadline to end it. The state’s Geologic Energy Management Division, known …

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Toxic Cables to be Removed from Lake Tahoe Under Settlement with AT&T’s Pac Bell

AT&T’s Pac Bell subsidiary has settled a lawsuit conservationists filed under a U.S. law more typically cited in Superfund cases, agreeing to spend up to $1.5 million to remove 8 miles of toxic telephone cables that were abandoned on the …

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Lawsuit Says Dairy Company is Misrepresenting Hawaii Links

A food distributor in Hawaii has filed a federal lawsuit against a dairy company because milk from the mainland is allegedly being sold under a name that advertises local ties. The lawsuit filed by Hawaii Foodservice Alliance claims Meadow Gold …

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Maryland Attorney General Sues Monsanto, Alleges Harm to Natural Resources

Maryland’s attorney general filed a lawsuit Tuesday against chemical company Monsanto and two spinoffs, alleging that chemicals Monsanto manufactured harmed the state’s waters, fish and wildlife and seeking to recover damages and clean-up costs. The lawsuit filed in the Circuit …

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Allstate Inks $232M Deal to Sell Most of Campus in Illinois

The Allstate Corp. announced it has reached an agreement to sell the property making up the majority of its campus in Northbrook, Illinois, to Dermody Properties for approximately $232 million. The sale is expected to close in 2022. Allstate has …

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Universal Raises $100M for Future Growth

Universal Holdings, parent company of Universal Property and Casualty Insurance Co., Florida’s largest private P&C carrier, announced it had placed $100 million in notes to aid in future growth plans. The oversubscribed private placement was for 5.625% senior unsecured notes …

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Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO

Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive said. Chief Executive Officer Rowan Saunders said the …

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Moody’s Analytics Launches Asset-Liability Management Tool for Insurance Investment

Moody’s Analytics has launched an asset-liability management (ALM) solution for insurance companies called of RiskIntegrity™ Investment Insight. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers to build liability-aware investment portfolios and better evaluate …

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Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively; Hiscox Hires Hartford’s Pearsall as Line U/W for D&O

This edition of International People Moves, covers two promotions at Chubb and a new hire at Hiscox. A summary of these appointments follows here. Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively Chubb announced two …

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Collecting $26M Award From White Nationalists May Be Challenging

Nine people who sued white nationalist leaders and organizations over the violence at a deadly rally in Charlottesville in 2017 won a $26 million judgment for the injuries and trauma they endured. But whether they will be able to collect …

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As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best

European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both elements, according to a new AM Best market …

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Activist Group Calls on Insurers to Sue Oil Companies for Climate Damages

FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The …

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Travelers Weigh Canceling, Delaying Trips as Countries Tighten Rules on Omicron Fears

SYDNEY/SINGAPORE – Some would-be travelers are considering canceling or delaying trip plans in response to fresh curbs prompted by the Omicron variant of the coronavirus, travel agents said on Monday, threatening an already fragile recovery for the global tourism industry. …

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Ship Master Spent 50 Hours Sleepless Before Crash off Louisiana

An oil tanker hit an offshore oil platform at night off Louisiana because its Turkish operating company didn’t give the ship’s master time to recover from days of sleepless travel, federal investigators have found. The master, or person in charge …

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Wisconsin Insurance Commissioner Stepping Down

Wisconsin Insurance Commissioner Mark Afable is stepping down next month, Gov. Tony Evers said. Evers appointed Afable to the post in December 2018. Afable had previously worked for American Family Insurance and served as the company’s chief legal officer before …

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Alabama DOI Relaxing Rate Filing Requirements on Flood Insurance

In an effort to increase the number of flood insurance policies in the state, the Alabama Department of Insurance is relaxing requirements that carriers file flood insurance rates, except for those covering vehicles. “More than 20% of the claims filed …

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Florida Appeals Court Dismisses Lawyers’ Complaint Against CFO in Rubin Saga

Florida’s top financial and insurance regulator may have landed in the middle of a political mess, but he and other state officials were within their rights in hiring an agency head who was later forced out over allegations of sexual …

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Florida Lawmaker Holds Town Hall Meetings on Insurance Crisis

In a sign that Florida’s property insurance problems continue to be a hot-button issue, a Florida state representative will hold town hall meetings next week to hear from stakeholders. State Rep. Kamia Brown, D-Orlando, announced the “State of the Insurance …

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When Is an Employer Immune from Tort Claims? Florida High Court Could Review after DCA Reversal

One of the largest utility companies in Florida may, after all, be shielded from tort claims by the grand bargain of workers’ compensation law, even though it had contracted maintenance work to another firm, a Florida appellate court has decided …

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Organized Fraud Ring in California Sentenced for 15 Staged Collisions

Los Angeles, California residents Victor Valle-Diaz, 55, Eduardo Retana, 25, and Ausencio Gomez, 46, were sentenced to serve in state prison after pleading no contest to charges of insurance fraud and assault for their involvement in the organized ring. The …

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Memo Cites Lessons from Ransomware Payments by CNA, JBS and Colonial Pipeline

In March 2021, CNA Financial Corp., one of the country’s largest insurance companies, suffered a ransomware attack from a cybercriminal group called Phoenix. The attackers pressured the insurer to pay up quickly by raising the ransom demand, claiming the data …

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People Moves: Lemonade Names Burgess Chief Claims Officer; Newfront in California Adds Naranjo

Lemonade named Sean Burgess chief claims officer. Burgess will oversee the company’s key claims functions across the U.S. and EU. Burgess will be filling the role of Jim Hageman, Lemonade’s first hire in this role when founded six years ago. …

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50 Years Late, Miami Courthouse Gets Inspected after Condo Collapse

The historic courthouse in downtown Miami is set to reopen after an engineering inspection that was spurred by the collapse of a nearby beachfront condominium. The 27-story Dade County Courthouse, built in 1928, never completed its required 40-year safety recertification …

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People Moves: New Chief Claims Officers at Lemonade, IAT Insurance Group

Lemonade Appoints Burgess as Chief Claims Officer Lemonade, the insurance company powered by artificial intelligence, appointed Sean Burgess as chief claims officer. As part of this move, Burgess will be filling the role of Jim Hageman, Lemonade’s first hire in …

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Three Dead, Six Seriously Injured in Baltimore Rowhouse Fire

Three people were killed and six people, including five children, were seriously injured after a fire broke out in an East Baltimore rowhouse early Monday, fire officials said. News outlets report that firefighters called to the home on North Patterson …

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Tennessee Governor’s Counsel Warned that Anti-Vax Bills Illegal

Tennessee Gov. Bill Lee’s office warned lawmakers that their sprawling bill limiting COVID-19 restrictions would violate federal law that protects people with disabilities and put the state at risk of losing federal funds, according to records obtained by The Associated …

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Arizona Attorney General Reaches $14.5M Settlement with JUUL

Arizona Attorney General Mark Brnovich announced a settlement with e-cigarette maker Juul Labs Inc. requiring the company to pay $14.5 million and make changes to its corporate practices to ensure JUUL products are not marketed or sold to youth in …

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New York City Aims to Be First to Rein in AI Hiring Tools

Job candidates rarely know when hidden artificial intelligence tools are rejecting their resumes or analyzing their video interviews. But New York City residents could soon get more say over the computers making behind-the-scenes decisions about their careers. A bill passed …

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Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection

Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021 wildfire season and that it raised a Series A …

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Thai Activists’ iPhones Targeted by ‘State-Sponsored Attackers,’ Warns Apple

BANGKOK – Apple Inc. issued on Wednesday alert messages to at least six Thai activists and researchers who have been critical of the government, warning it believed their iPhones had been targeted by “state-sponsored attackers,” according to activists and the …

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North Carolina Homeowners Premiums to Rise 7.9% on Average

North Carolina homeowners will see insurance premiums climb an average of 7.9% next year, but that’s much less of an increase that a state rating bureau had requested, the state insurance commissioner announced. The North Carolina Rate Bureau had proposed …

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Louisiana Kicks Off $11 Million Housing Program for Hurricane Laura

Nearly 15 months after Hurricane Laura struck, Louisiana is kicking off $11.3 million in housing repair and rebuilding programs for the southwestern city of Lake Charles while it waits for hundreds of millions in promised federal aid to arrive. Gov. …

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Inflation, Loss Severity May Curb Nonstandard Auto Market’s Positive Momentum

Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive market trends, AM Best reports. Also, smaller players in …

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IncubEx, Led by Industry Veteran Eckert, Buys UK Insurtech Platform Insurwave

IncubEx Inc., a Chicago-based company that is chaired by industry veteran Neil Eckert and designs and develops new financial products in global environmental, climate risk and related commodity markets, announced the acquisition of Insurwave Ltd. Insurwave is an insurtech platform …

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Reuters Special Report: Burnout: Firefighter Trauma Rises in Western States

Cal Fire Battalion Chief Miguel Watson wakes to the wind whipping through the trees. The whole night is ahead of him. He lies there and then, feeling restless, gets up and walks to his pickup truck. He listens to the …

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Two Experts Debunk Some of the Biggest Myths Around Cyber Insurance

Cyber attacks are continuously evolving, and companies that don’t stay educated about the space could be caught off guard, experts say. “A lot of times, I think cyber has this type of mentality that it’s not going to happen to …

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Wall Street Faces $22 Trillion Ticking Carbon Time Bomb

The clock is ticking for banks, insurers and asset managers still providing support to oil, gas and coal producers. It’s not just the moral imperative—that fossil-fuel use is destroying the atmosphere and life on Earth with it. It’s that their …

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Claims Services Provider McLarens Forms Strategic Alliance With Polish Firm Saltex

McLarens, the Atlanta-based insurance services provider, has entered into a strategic alliance with Saltex, a Polish claims management and loss adjusting firm with offices in Warsaw and Wroclaw. Operating as McLarens’ exclusive affiliate in Poland, the partnership with Saltex will …

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Ohio Jury Finds Major Pharmacy Chains Fueled Opioid Crisis

A Cleveland jury concluded Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. helped create a public-health crisis by failing to properly monitor opioid prescriptions, the drug industry’s latest loss in the expanding litigation over the painkillers. The federal-court …

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Investor Warburg Cuts Valuation of Ant Group by 15% to Below $200B: Source

HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …

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Washington Paper Mill Fined $140K for Failing to Protect Workers from COVID

A Cowlitz County, Washington, papermaking plant is facing nearly $140,000 in fines after one worker died and more than a dozen machine operators got sick with COVID-19. An inspection by the Department of Labor & Industries reportedly revealed that during …

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U.S. Gunmakers Claim Mexico’s $10B Lawsuit Shows ‘Clash of National Values’

Gun makers including Smith & Wesson and Sturm, Ruger & Co. on Monday asked a U.S. judge to dismiss a lawsuit by the Mexican government accusing them of facilitating the trafficking of weapons to drug cartels, leading to thousands of …

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Study: California Drops to 45th Nation in Highway Conditions

A new study out ranks California’s highway system 45th in the nation in overall cost-effectiveness and condition. The Annual Highway Report published by Reason Foundation is a two-spot drop from 43rd overall in the previous report. This is in part …

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Report: California Workers’ Comp Covid Claim Volume Trending Down After Summer Surge

The summer surge of COVID-19 claims that hit the California workers’ compensation system in July and August appears to have run its course, according to the California Workers’ Compensation Institute. A CWCI analysis released on Tuesday shows the number of …

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Guy Carpenter and Marsh to Combine South Africa Facultative Reinsurance Businesses

Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective Jan. 1, 2022. The new unit will operate under the Guy Carpenter …

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Reliance Expands Auto Quote Platform to Tennessee

Reliance Global Group, which utilizes artificial intelligence and data mining to assist agents in writing auto insurance policies, announced it has launched 5MinuteInsure.com in Tennessee, its fifth new state in recent months. The web-based platform is designed to provide consumers …

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Guyana Weighs Raising Requirements for Insurance Cover for Oil Spills: Official

Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance, a type of insurance, …

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Indiana Push for Marijuana Legalization Faces GOP Opposition

A renewed push for Indiana to join more than two-thirds of states with some form of legalized marijuana use appears to face the same roadblock from Statehouse Republicans who have opposed such a step for many years. Legislative Democrats and …

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Warrants Issued for Woman After False Claims Filed in Georgia

Georgia authorities are searching for a Virginia woman wanted for insurance fraud after she allegedly filed false claims on personal property. Georgia Insurance Commissioner John King said in a bulletin that warrants had been issued for Cassondra Daniele Fuller, of …

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Uber UK Accused of Undermining Court Ruling on Worker Rights

Nine months after the UK Supreme Court made a crucial decision that effectively forced Uber Technologies Inc. to provide worker rights for its riders, the firm is back in court accused of trying to undermine the judgment. Uber has challenged …

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Arthur J. Gallagher Acquires Real Estate Insurance Solutions in Utah

Arthur J. Gallagher & Co. acquired Park City, Utah-based Real Estate Insurance Solutions. Terms of the deal were not disclosed. Chris Nangle and his associates will remain in their current location under the direction of Kevin Garvin, head of Gallagher …

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Renominated Federal Reserve Chair Powell Committed to Addressing Climate Risk

U.S. Federal Reserve Chair Jerome Powell underscored his commitment to putting climate change at the center of the central bank’s policymaking decisions during his conversations with President Joe Biden, the White House said on Monday. Biden on Monday renominated Powell, …

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People Moves: New Hires at Risk Strategies, NFP, Ames & Gough

Risk Strategies Hires Murphy to Private Client Services Division Risk Strategies, a national specialty insurance brokerage and risk management firm, hired Alison Murphy as national practice leader of private client services. In this role, Murphy will develop and lead the …

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U.S. Climate Pledge to Be Tested in Senate

After talking the climate talk at U.N. negotiations in Scotland, the Biden administration now tests whether a divided United States can walk the climate walk: push a massive investment for a new era of clean energy through the narrowest of …

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Police Arrest Suspect in Shootings at Three Baltimore County Buildings

A person arrested early Sunday on suspicion of firing a gun at three buildings in Baltimore County appeared to be having a mental health crisis, police said. The Baltimore Sun reports that no injuries were reported in the shootings by …

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Generali in Preliminary Talks to Buy Credit Agricole Subsidiary La Medicale

Assicurazioni Generali SpA is in early talks on a possible takeover of Credit Agricole subsidiary La Medicale, as part of plans to expand in European non-life and health insurance businesses, according to people with knowledge of the matter. The firm, …

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Trial of Ex-Teacher in Massachusetts Charged with Assault on Student to Start

A former Massachusetts middle school teacher accused of inappropriately touching a student is scheduled to go on trial Monday. Jeffrey Knight, a former Cohasset Middle School teacher, faces multiple indecent assault and battery on a child charges in Quincy District …

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Brokers Report Cyber Insurers Requiring Security Steps Along With Higher Premiums

Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27,6%, according to The Council’s Commercial Property/Casualty Market Index for the third …

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Talcum Cancer Victims Rebuff J&J’s Push for Settlement Talks

Johnson & Johnson will likely have to wait until next year before it can restart negotiations to resolve 38,000 lawsuits filed by people who claim one of its oldest products, baby powder, causes cancer and other diseases. A federal judge …

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Australia’s Weather Bureau Declares La Niña for 2nd Consecutive Year

Australia’s weather bureau said on Tuesday a La Niña weather phenomenon had developed in the Pacific Ocean for the second year in a row that could bring above average rainfall across the country’s center, north and east. La Niña is …

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Des Moines, Iowa Officials to Investigate Pungent Odor from Pork Plants

Parts of downtown Des Moines have been so transformed in the past decade by new apartments, trendy shops and microbreweries, it’s sometimes hard to reconcile the present with the not-so-distant past. But one strong reminder of the city’s heritage remains: …

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Generali Investor De Agostini to Sell Stake, But Will Vote at AGM

Italian publisher Gruppo De Agostini said on Monday it had started the process to sell its 1.44% stake in Generali but would still be in a position to exercise its voting rights at the insurer’s next shareholders’ meeting. De Agostini …

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Louisiana’s Entergy Owes up to $4.4 Billion for Ida Storm Restoration

Entergy Louisiana told utility regulators last week that it owes up to $4.4 billion for getting the lights back on after a string of storms and needed a $1 billion loan to meet those costs in the short-term. The Advocate …

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Alabama Agents Vow to Fight Tax Breaks That Mostly Benefit Two Carriers

Independent insurance agents in Alabama are trying again to crack open what they say is the state’s “good ol’ boy” system and end three decades of tax breaks that mostly benefit two insurance carriers at the expense of others. Ending …

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Alera Group Acquires Schwartz Insurance Agency in Arizona

Alera Group acquired Schwartz Insurance Agency in an Arizona. Schwartz Insurance will expand Alera Group’s footprint in Arizona. Schwartz Insurance joins Alera Group through Benefit Commerce Group, an Alera Group company based in Scottsdale. The Schwartz Insurance team will relocate …

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DoorDash Paying $5M in San Francisco Worker Misclassification Probe

Delivery company DoorDash Inc. is paying more than $5 million to settle an investigation by San Francisco into alleged labor law violations, with the bulk of the money going to delivery workers, the city attorney said on Monday. DoorDash will …

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Deadline Nears for FEMA Aid for Hurricane Ida

Louisiana residents impacted by Hurricane Ida’s destruction in August have a week remaining to seek individual assistance from the Federal Emergency Management Agency. The deadline for individuals and families to apply for federal aid for rental assistance, temporary housing, home …

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Resilience Cyber Closes $80M Funding Round to Further Expand Into Middle Market

Resilience, which offers cyber insurance and security solutions, reported that that it closed an $80 million Series C funding round as it plans for further middle market expansion and international growth. The funding round was co-led by General Catalyst and …

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Colorado Suburb Paying $15M to Settle Elijah Mcclain Suit

The Denver, Colorado suburb of Aurora has agreed to pay $15 million to settle a lawsuit brought by the parents of Elijah McClain, a Black man who died after suburban Denver police stopped him on the street and put him …

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K2 Launches Parametric MGA in California Headed Carpinteri

K2 Insurance Services LLC launched a managing general agency called K2 Parametric, which is being led by Scott Carpinteri, who has experience in the parametric insurance space. K2 Parametric will be based out of California. Carpinteri has more than 25 …

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Insurtech Slide Closes $100M Fundraising Round

Slide, an insurtech company based in Tampa, announced it is closing its oversubscribed, $100 million Series A fundraising round. Slide uses data, artificial intelligence and machine learning to let homeowners create insurance policies, and the fundraising will help the firm …

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New Jersey Man Indicted in Connection with Auto Insurance Fraud Scam

A Hudson County, New Jersey, man was indicted for allegedly causing fraudulent automobile insurance applications to be submitted on his behalf in an attempt to avoid paying the policy premiums. John A. Loor (also known as John A. Loor-Benitez) of …

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Biden’s Proposed Inflation Cap on Drug Prices Includes Privately Insurance Plans

Workers and families with private health insurance would reap savings on prescription drugs from a little-noticed provision in President Joe Biden’s sweeping social agenda bill. It’s meant to break the cycle of annual price increases for widely used medicines. That …

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Crash Kills 2 Missouri Highway Workers

Two state Department of Transportation workers were killed and another was seriously injured Thursday after they were hit by a car on an interstate ramp in eastern Missouri, authorities said. The collision occurred as the workers were repainting stripes on …

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Pennsylvania Lawmakers Try Anew to Toughen Penalty for Repeat DUI Drivers

The Pennsylvania House of Representatives approved legislation aiming to increase penalties for motorists who have multiple DUI convictions to end what critics have called Pennsylvania’s “revolving door” for the most serious drunk drivers. The bill passed, 168-32, and goes to …

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Habart Named Director of Tennessee’s Surging Captive Section

The Tennessee Department of Commerce and Insurance has promoted the Captive Insurance Section’s acting manager to be director of the section. Jonathan Habart has been acting director since Aug. 3 and was assistant director for 10 months prior to that, …

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Operator of Boat That Crashed in Massachusetts, Killing One, Pleads Not Guilty

A businessman who was operating a luxury powerboat that crashed in Boston Harbor last summer, leaving one passenger dead and five others injured, has pleaded not guilty to involuntary manslaughter and multiple assault and battery charges. A judge set bail …

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Amazon and Its Algorithms Blamed for Crashes by Delivery Drivers

Ans Rana was in the back seat of his brother’s Tesla Model S when they stopped behind a disabled car just before 9 p.m. on Atlanta’s busy Interstate 75. Seconds later, a blue Amazon.com Inc. delivery van slammed into them …

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Apollo’s Syndicate 1971 to Open for Trading in 2022

Apollo Syndicate Management, the independent specialist insurer and reinsurer, announced it has received Lloyd’s approval to establish and manage ibott Syndicate 1971 for the 2022 year of account. It has also been granted permission to underwrite in accordance with the …

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Climate Change Could Fuel Atmospheric Rivers, Which Caused Recent Canada Floods

Atmospheric rivers of the kind that drenched California and flooded British Columbia in recent weeks will become larger — and possibly more destructive — because of climate change, scientists said. Columns in the atmosphere hundreds of miles long carry water …

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Fertilizer-Maker Yara to Debut World’s 1st Autonomous Electric Container Ship

OSLO – The world’s first fully electric and self-steering container ship, owned by fertilizer maker Yara, is preparing to navigate Norway’s southern coast and play its part in the country’s plans to clean-up its industry. The Yara Birkeland, an 80-meter-long …

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Wind Turbine Maker Vestas’ Shares Drop as Cyber Attack Risks Output Delays

Shares in Vestas Wind Systems A/S dropped to a two-week low after one of the world’s top makers of wind turbines was hit by a cyber attack. The Danish company said data was compromised, but that there are no signs …

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Texas High School Band Bus Crash Kills 3

The three men killed in a fiery West Texas crash involving a school bus carrying members of a high school band included the band director, the Texas Department of Public Safety said Saturday. Andrews High School band director Darin Johns, …

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UK Competition Regulator Ends Probe Into Gallagher’s Planned Purchase of Willis Re

Britain’s competition watchdog said on Monday it will not refer insurance broker Arthur J Gallagher & Co’s planned $3.25 billion purchase of Willis Towers Watson’s treaty reinsurance brokerage business to an in-depth investigation. The Competition and Markets Authority said it …

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Report: Texas Still at Risk of Winter Power Failures

Texas is still at risk of power blackouts this winter in the event of extreme weather like the catastrophic February storm that buckled the state’s electrical grid and left millions of people without heat for days, the nation’s grid monitor …

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Independent Agents Can Access Tech Training, Tools with Catalyit

Independent agent associations in seven states have teamed up with the technology company Catalyit to help agencies assess and improve their use of data and technological innovations in the insurance arena. “Every day, agents reach out to FAIA with questions, …

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Insureds May be Cooling to Digital Claims Experience

Policyholders are starting to pull back from digital channels as the COVID-19 pandemic eases and revert to in-person ways to file insurance claims, a senior executive at Zurich Insurance Group told the Reuters Connected Claims USA event this week. The …

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California Commissioner Orders FAIR Plan to offer More Commercial Coverage

California Insurance Commissioner Ricardo Lara on Friday ordered the FAIR Plan to implement his mandated increases to its decades-old commercial property coverage limits offered to businesses. “My order is part of an ongoing commitment to helping businesses in California thrive …

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Florida Supreme Court Suspends Witness-Coaching Attorney for 90 Days

The Florida Supreme Court has suspended a workers’ compensation defense lawyer for 91 days, after he was caught coaching a deposition witness through text messages, then being less than candid about it to a judge. Derek James, of Maitland, Florida, …

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$5M Settlement in Arizona Suit over Man’s Death During Arrest

Phoenix, Arizona officials agreed to pay $5 million to settle a lawsuit over the January 2017 death of a Black man during an arrest attempt in which he cried out that he couldn’t breathe as officers held him down. The …

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Texas Crane Company to Pay $24,000 to Worker Who Refused to Violate Law

A federal whistleblower investigation led the U.S. Department of Labor’s Occupational Safety and Health Administration to order a Houston mobile crane rental company to pay a former employee nearly $24,000 in back wages, interest and damages after firing the worker …

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Son of Black Man Killed by California Police Settles Lawsuit for $1.3M

The child of a Black man who was fatally shot by Southern California police in 2018 – and whose death spurred lawmakers to enact a state law that decertifies officers who act criminally or with bias – has settled a …

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Lawsuit Says Baldwin Had No Reason to Fire in New Mexico Movie Set Shooting

A lawsuit alleges that Alec Baldwin recklessly fired a gun when it wasn’t called for in the script when he shot and killed cinematographer Halyna Hutchins and injured director Joel Souza on the New Mexico set of the film “Rust.” …

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California Couple’s $86M Award in Monsanto Pesticide Case Stands

California’s highest court rejected has a challenge by Monsanto Co.’s to $86.2 million in damages to a couple who developed cancer after spraying the company’s Roundup weed-killer in their yards for three decades. The state Supreme Court’s denial of review …

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Brit Completes $380M Loss Portfolio Transfer With Legacy Specialist RiverStone

Brit Ltd. announced it has completed a loss portfolio transfer (LPT) agreement with RiverStone International. The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is …

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Live Nation, Apple, Travis Scott Face $2 Billion Over Astroworld Crush

A Texas trial attorney has filed a $2 billion lawsuit following the Astroworld music festival crush that killed 10 people and left hundreds more injured. The lawsuit filed by Houston attorney Thomas J. Henry is on behalf of 282 victims …

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Damp Jersey Shore Town Ponders a Fix for ‘Sunny Day’ Floods

An elite but often-underwater beach town at the Jersey Shore is looking for its own solutions to back bay flooding, deciding it can’t wait for state and federal officials to agree on a fix. Bay Head is studying options to …

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Women Sue Yale Over Fentanyl Switch-Up at Fertility Clinic

Seven women who say they suffered excruciating pain after a nurse stole fentanyl for her personal use and replaced it with saline sued Yale University on Wednesday, alleging it of failing to safeguard its supply of the painkilling opioid at …

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Kaplansky Insurance Acquires Massachusetts’ Judith M. Flynn Agency

Kaplansky Insurance acquired Judith M. Flynn Insurance Agency Inc., located in Dorchester, Massachusetts. This deal serves as Kaplansky’s fourth acquisition of 2021 and 38th overall and contributes to its growth across New England. Judith M. Flynn Insurance Agency has offered …

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Swiss Re and China Tech Giant Baidu Partner to Advance Autonomous Driving Industry

Swiss Re and Chinese tech giant Baidu are teaming up to further develop the autonomous driving industry, announced Swiss Re. The partnership between Swiss Re and Baidu aims to further develop the autonomous driving industry by advancing risk management research …

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State Farm and Generali Join Investors in Computer Vision Startup Nexar

State Farm and Generali joined the $53 million financing round for Nexar, an artificial intelligence computer vision startup based in New York. The technology startup provides crowdsourced visual data that is contextualized with AI and is designed to provide insights …

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New U.S. Rule Requires Banks to Promptly Report Cyber Incidents

U.S. banking regulators on Thursday finalized a rule that directs banks to report any major cybersecurity incidents to the government within 36 hours of discovery. Separately, the banking industry said it had successfully completed a massive cross-industry cyber security drill …

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Australia’s Corporate Regulator Sues MLC Life for Causing Financial Harm of $13M

Australia’s corporate regulator said on Friday it was suing MLC Life Insurance for causing financial harm of A$17.5 million ($12.73 million) to over a quarter million customers by not paying benefits and charging premiums without notice. MLC is a part …

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Canada Insurer Definity Surges on Market Debut After $1.6B IPO Backed by Swiss Re

TORONTO – Insurer Definity Financial Corp jumped as much as 36% on its stock market debut on Thursday after raising C$2.1 billion ($1.6 billion) in Canada’s second-largest IPO. Waterloo, Ontario-based Definity priced its IPO at C$22.00 per share, the top …

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Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount

LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts. Faced with increased demand, major European and U.S. …

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Victims of Indianapolis FedEx Shooting Seeking $2.1 Million From City

Three members of the Sikh community affected by a mass shooting at an Indianapolis FedEx facility in April are seeking compensation from the city over claims that local officials failed to pursue a court hearing that could have prevented the …

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Russia Missile Test Creates New Belt of Space Junk, Escalating Threat to Satellites

The Russian missile test that shattered a dead satellite this week highlights a growing threat of space debris just as companies such as SpaceX and Boeing Co. make plans to launch as many as 65,000 commercial spacecraft into orbit in …

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BRP Group to Acquire Missouri’s Brush Creek Partners

BRP Group, Inc., through an indirect subsidiary, has entered into an agreement to acquire substantially all the assets of Brush Creek, LLC. Based in Kansas City, Missouri, Brush Creek Partners, also operating as “bcp tech,” is a provider of commercial …

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Staying Focused on Surplus Lines: Amwins’ President Drinkwater

It’s an interesting time in the surplus lines industry with insurance rates increasing and capacity being limited in some classes of business. It’s a time when maintaining focus is critical to finding success, according to the president of Amwins Group, …

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Insuring Cannabis Summit: Broker Quick Hits Panel Advice Covered EPLI, Exclusions, Lounges, Labs

This is part of a series of articles from Insurance Journal’s annual Insuring Cannabis Summit on Oct. 14. You can find more articles from the summit at the bottom of this one. Employee practice liability insurance, exclusions, onsite lounges, testing …

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Transgender Woman Sues in California After Cell Beating

A transgender woman is suing the San Diego County Sheriff’s Department after she was placed in a jail cell with three men and beaten so badly that her jaw was broken, according to the lawsuit. Kristina Frost was “viciously attacked” …

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Boston Police Detective Who Alleged Sex Discrimination Awarded $2M

A federal jury has awarded $2 million to a high-ranking Boston police detective who said in a lawsuit against the department and her former supervisor that she was the victim of gender discrimination. The jury Monday after a four-week trial …

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New York Man Charged with Murdering Woman in Murder-for-Hire Scheme

A Queens, New York, man has been charged with murdering a woman for life insurance benefits. A superseding indictment was filed in federal court in Brooklyn charging Cory Martin with murder-for-hire and conspiracy to commit murder-for-hire. Martin was previously charged …

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People Moves: Accelerant Taps Data Scientist

Accelerant, an insurtech for underwriters who serve small and medium-sized businesses, has named Kenny Holms chief decision scientist. Holms will bring together data science, artificial intelligence, machine learning and actuarial experience to develop insurance solutions, the Georgia-based company said in …

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World Insurance Associates Acquires Massachusetts’ Pope Insurance Agency

World Insurance Associates LLC (WIA) acquired Pope Insurance Agency Inc. of Plainville, Massachusetts, on October 1, 2021. Terms of the transaction were not disclosed. Pope Insurance Agency Inc. is a multi-line insurance agency. It offers personal insurance for car, home …

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Risk Strategies Acquires Connecticut’s TriPoint Insurance

Risk Strategies, a national specialty insurance brokerage and risk management firm, acquired TriPoint Insurance Inc., a national specialist providing Performance Based Insurance (PBI) solutions to middle market companies in the construction, manufacturing, wholesale and skilled nursing verticals. TriPoint’s PBI solutions …

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Jury Acquits 4 Coal Officials in Dust Collection Tampering Trial

A federal jury has cleared four former coal company officials who were accused of skirting dust rules in two underground Kentucky mines. The jury in U.S. District Court in Louisville deliberated Wednesday for about two hours before returning not guilty …

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North Carolina Attorney General Sues E-Cig Makers

North Carolina Attorney General Josh Stein is suing the founders of an e-cigarette maker over his concerns that their product is being marketed to children through kid-friendly flavors and poor age verification. Stein announced at a news conference that he …

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Insurer Sues Florida Mom of Boys Killed by Husband

An insurance company is suing the mother of two boys killed by her estranged husband over a $4 million life insurance payout which claims she may not have been legally entitled to receive. Meanwhile, she is trying to collect $10 …

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China’s Ant Group Reports 39% Rise in Profits on Investment Gains

Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for private enterprise. The company contributed 6.5 …

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Finance System Is Getting More Dangerous, Not Safer: Allianz CEO

FRANKFURT – Allianz Chief Executive Officer Oliver Baete said on Thursday that the financial world was getting more dangerous, not safer, setting an ominous tone for investors. Baete, who oversees one of the world’s largest insurers and asset managers, pointed …

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‘Extraordinary’ Storms Cut Off Road, Rail Access to Vancouver

Vancouver, Canada’s third-largest city, is cut off from the rest of the country by land after days of storms caused flooding and mudslides that have blocked major highways and rail lines. In response to what local officials are calling the …

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Oklahoma Attorney General Joins Suit Over Health Vaccine Mandate

Oklahoma is among 12 state attorneys general filing a federal lawsuit over the Biden administration’s COVID-19 vaccine mandates for health care workers. Attorney General John O’Connor said Nov. 16 that Oklahoma has a shortage of nurses as it was, and …

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India’s Paytm Tumbles 26% in Market Debut, as Investors Question Lack of Profits

MUMBAI – Indian digital payments firm Paytm tumbled 26% on its maiden day of trade, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever IPO. While there had been some expectations that …

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Zurich Insurance on Track to Deliver 2022 Targets

Zurich Insurance Group is on track to deliver on its 2022 targets, it said ahead of an investor day presentation on Thursday, stressing its strategy and business mix allow “superior” returns to shareholders and support its dividend policy. Europe’s fifth-largest …

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P/C Insurer Definity Raises $1.1B in Largest Canadian IPO of 2021

Definity Financial Corp., the property and casualty insurer formerly known as Economical Mutual Insurance Co., raised about C$1.4 billion ($1.1 billion) in the largest Canadian initial public offering of the year. A total of 63.6 million shares were sold for …

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Former Montana Women’s Basketball Coach Sues for Discrimination

Former Montana women’s basketball coach Shannon Schweyen has sued the university in federal court, alleging she was the victim of sexual discrimination during her employment and when her contract was not renewed. Her lawsuit, filed in Missoula, alleges she received …

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Aspen Institute Report Calls for Regulation, Local Media to Fight Internet Misinformation

Misinformation is jeopardizing efforts to solve some of humanity’s greatest challenges, be it climate change, COVID-19 or political polarization, according to a new report from the Aspen Institute that’s backed by prominent voices in media and cybersecurity. Recommendations in the …

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People Moves: Alliant Names Johnson Managing Director in Oregon; XPT Adds Mansfield in Washington

Alliant Insurance Services named Peter Johnson executive vice president and managing director. Johnson is based in Portland, Ore., and will focus on providing strategic risk management solutions for agribusiness clients across the country. Johnson has 28 years of experience in …

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P/C Insurers’ Increased Reliance on Reinsurance Portends Premium Hikes

American International Group Inc. and other insurers avoided steep losses from a spate of extreme weather this year thanks in part to the reinsurance industry. But increased reliance on those policies probably means price hikes are coming. “This year we’re …

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Archdiocese of New Orleans to Pay More Than $1 Million Over Katrina-Related False Claims

The Roman Catholic Archdiocese of New Orleans has agreed to pay more than $1 million to resolve allegations that it violated the False Claims Act by knowingly submitting false claims for payment to the Federal Emergency Management Agency for the …

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Idaho Lawmakers Advancing Vaccine Workers’ Comp Legislation

A bill making it easier for Idaho residents to get workers’ compensation if they become ill after taking an employee-mandated vaccine sailed through the House and headed for the Senate this week. The measure passed the House on a 67-3 …

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Cyclist Paralyzed in Crash to Get $24M Payout from California City

San Diego, California has agreed to a nearly $24 million settlement with a cyclist paralyzed seven years ago when a car driven by an intoxicated driver collided with him on a blind turn. The City Council approved the payout to …

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Adjacent Condo Construction Triggered Surfside Collapse, Lawsuit Charges

A Miami lawsuit charges that a luxury condominium tower built just a few feet away from Champlain Towers South caused structural damage to the already ailing building in Surfside, leading to the collapse that killed 98 people in June. The …

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USI Opening San Diego Office to Expand Southern California Presence

USI Insurance Services opened of its first San Diego, California-based office. The new office at 4370 La Jolla Village Drive in San Diego’s University City neighborhood, opened on Monday, and it accommodates a team of local property/casualty and employee benefit …

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Eight Dead from COVID, 89 Infected at Connecticut Nursing Home

Eight residents of a nursing home in Connecticut have died during a coronavirus outbreak while 89 residents and employees have tested positive for the disease, nursing home officials say. The outbreak at the Geer Nursing and Rehabilitation Center in Canaan …

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Massachusetts Gig Worker Ballot Measure Backers Submit Signatures

Backers of a measure that asks Massachusetts voters to treat drivers for app-based companies like Uber Technologies Inc and Lyft Inc as independent contractors rather than employees said on Tuesday they had gathered enough signatures to get it on the …

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BKS Partners Enters Agreement to Acquire Construction Risk Partners

Baldwin Krystyn Sherman Partners LLC (BKS Partners) entered into an agreement to acquire all the outstanding equity interests of Construction Risk Partners LLC (CRP). The transaction is expected to close on or around December 1, 2021, subject to certain closing …

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Demex and Vave Offer Parametric Extreme Temperature Insurance for U.S. Businesses

A technology firm and a managing general agent are partnering to offer extreme temperature insurance to commercial properties across the United States. According to Vave, an algorithmic underwriting MGA, and The Demex Group, a climate risk analytics and technology firm, …

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Tesla Seeks Retrial, Cut in ‘Staggering’ $137M Award in Racial Bias Workplace Claim Case

Tesla has asked a federal court to reject what is calls a “staggering” $136.9 million jury award or order a new trial in a case involving an employee’s claim that the car maker did not do enough to protect him …

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Rise in Insurance Demand Likely to Break Premium Records in 2022: Swiss Re

Strong growth and record premiums are projected for the global insurance industry, as demand for risk protection increases, according to Swiss Re Institute’s latest sigma study. The global insurance market is set to exceed US$7 trillion in premiums for the …

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Allianz Becomes First Wholly Foreign-Owned Life Insurer in China

Allianz said on Wednesday that its Chinese life insurance business had received regulatory approval that will allow it to become the first wholly foreign-owned life insurer in China created from a joint venture. Many foreign financial institutions are looking to …

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FAA in Talks With Telecoms Over Aviation Safety Concerns of 5G Wireless

The Federal Aviation Administration said on Tuesday it is in direct talks with the telecom industry about its aviation safety concerns involving the planned use of spectrum for 5G wireless communications. “We are having very productive discussions and we will …

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6th Circuit to Hear Consolidated Lawsuits Challenging Biden Workplace Vaccine Rule

A judicial panel on Tuesday consolidated 34 lawsuits challenging the Biden administration’s workplace COVID-19 vaccine rule in the 6th U.S. Circuit Court of Appeals, a venue favored by opponents of the rule. President Joe Biden announced plans for the vaccine …

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Supreme Court Rejects VW Bid to Halt State, Local Emissions Scandal Suits

The Supreme Court on Monday turned away appeals from Volkswagen that sought to stop state and local lawsuits related to the 2015 scandal in which the automaker was found to have rigged its vehicles to cheat U.S. diesel emissions tests. …

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Lexington’s Levinson on Why E&S Is More Relevant Now Than Ever

When Lou Levinson became president and CEO of Lexington Insurance in late 2018, he knew the company needed a change. He believed that Lexington should be a wholesale focused distribution channel and that the company should remain focused and disciplined …

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South Africa Sued Over Plans to Construct New Coal-Fired Power Plants

South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new coal-fired power plants. Plans for the construction of 1,500 megawatts of coal-fired generation capacity are included in the …

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‘Storm of Century’ Halts Traffic at Canada’s Biggest Port, Adding to Supply Chain Woes

Traffic at Canada’s largest port has been cut off by what local officials are calling the storm of the century, the latest snag to hit the North American supply chain. Days of torrential rain have pelted British Columbia, triggering floods …

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People Moves: Sompo Names QBE’s Reid Head of Casualty Int’l; AXA XL Promotes Shing to Lead U/W Mgmt, UK & Lloyd’s; Jensten’s Siggery to Oneglobal for Risk & Compliance

This edition of International People Moves covers appointments at Sompo International, AXA XL and OneGlobal Broking. A summary of these new hires follows here. Sompo Int’l Appoints QBE’s Reid as Head of Casualty, International Insurance Sompo International Holdings Ltd., a …

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Smithfield to pay $13,494 Over Coronavirus Hazards at South Dakota Facility

Smithfield Packaged Meats Corp. – the country’s largest pork processor – has agreed to assemble a team of company and third-party experts to develop an infectious disease preparedness plan that the company will implement at all of its processing facilities …

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Austin-Based Landlord Insurer Steadily Raises $31 Million

Austin-based landlord insurance company Steadily has completed its latest investment round, bringing its total funding to $31 million. Steadily serves 17 million individual rental property owners who collectively own single family and small apartment rentals across the U.S. The latest …

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Willis Towers Watson to Acquire Israeli Broker Leaderim

Insurance broker Willis Towers Watson announced it has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel. Financial terms of the deal were not disclosed. Leaderim is one of the top brokers in …

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India Shuts 5 Coal-Fired Power Plants to Combat Air Pollution in New Delhi

NEW DELHI—India has temporarily shut down five coal-fired power plants around the capital New Delhi as part of its drive to combat air pollution, according to an order from the federal environment ministry panel on air pollution. The Commission for …

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Settlement Bans Coal Storage in California City by 2027

A private port operator in the San Francisco Bay Area that stores coal from Utah before it’s shipped to Asia has been given until 2027 to continue those operations under terms of a settlement. Officials in Richmond, where the port …

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California Officials Promising Improved Response After Oil Spill

California officials on Monday said better communication and detection technologies could improve the state’s response to an oil spill like last month’s crude pipeline leak off the Orange County coast. State lawmakers held an oversight hearing in Costa Mesa to …

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SullivanCurtisMonroe Acquires Stan Burns in California

SullivanCurtisMonroe acquired Stan Burns Insurance Services in Long Beach, California. Terms of the deal were not disclosed. Stan Burns specializes in commercial, personal, employee benefits and life insurance. Irvine, California-based SCM is a locally managed insurance brokerage firm and offers …

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Former Coach, ESPN Commentator Gruden Sues NFL Over Leak of Emails

Former Las Vegas Raiders coach Jon Gruden has sued Commissioner Roger Goodell and the National Football League, alleging that a “malicious and orchestrated campaign” was used to destroy Gruden’s career by leaking old emails he had sent that included racist, …

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Want Wearable Tech With That Workers’ Comp Policy? Kinetic Teams With Nationwide.

New York-based safety technology firm Kinetic has formed an underwriting partnership with Nationwide’s E&S/Specialty division. Acting as program manager, Kinetic Insurance is offering workers’ compensation coverage combined with workplace safety technology. The Kinetic workers’ compensation offering equips policyholders with wearable …

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Canadian Storms Force Shut Down of Trans Mountain Oil Pipeline

OTTAWA/CALGARY, Alberta – Canada’s Trans Mountain oil pipeline has been shut down temporarily because of rainstorms pounding parts of the province of British Columbia, the operating company said in a statement on Monday. The Canadian government-owned pipeline ships 300,000 barrels …

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People Moves: New Hires at XPT, InsurBanc, Distinguished Programs

XPT Hires Bewick as Senior Vice President in Massachusetts XPT, a national specialty insurance wholesale distribution company, hired industry veteran Gordon Bewick as senior vice president. He will be based in Boston, Massachusetts. Bewick’s experience combined with the support of …

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Swiss Re CEO Mumenthaler Appointed Chairman of Geneva Association

The Geneva Association announced that Christian Mumenthaler, CEO of Swiss Re, was appointed the new chairman of the organization. Mumenthaler, who has been vice chairman since November 2019, succeeds outgoing Chairman Charles Brindamour, CEO of Intact Financial, who remains on …

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Liberty University Responds to Ex-Spokesman’s Suit, Seeks Gag Order

Liberty University is responding to a former spokesman’s lawsuit alleging he was fired in retaliation for raising concerns about the handling of sexual misconduct accusations. The evangelical Virginia school filed its responses to Scott Lamb’s suit last week, seeking more …

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Rochester Mayor Declares Emergency Amid Gun Violence Spike

Police in Rochester, New York, are investigating a string of fatal shootings that came just hours after Mayor Lovely Warren declared a local state of emergency to combat rising gun violence. The recent killings, including three within a 12-hour period, …

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Rare November Tornadoes Hit Connecticut, Rhode Island

Three tornadoes that hit Rhode Island and southeast Connecticut this weekend were the first since at least 1950 to strike the area in November, the National Weather Service said Sunday. The service confirmed the three tornadoes touched down Saturday evening. …

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People Moves: WTW Names Aon’s Wegbrans as Head of Broking; EmergIn Risk Hires Occam’s Paraskeva; Aon’s Norris to Gallagher Re as Cyber ILS Broker

This edition of International People Moves details appointments at Willis Towers Watson; Ryan Specialty’s MGU, EmergIn Risk; and Gallagher Re. A summary of these new hires follows here. WTW Names Aon’s Wegbrans as Global Head of Broking Insurance broker Willis …

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Shipowners Make Payments to Free Vessels Detained by Indonesian Navy: Sources

SINGAPORE – More than a dozen shipowners have made payments of about $300,000 apiece to release vessels detained by the Indonesian navy, which said they were anchored illegally in Indonesian waters near Singapore, according to sources with direct knowledge of …

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Markel Corp. Puts Retrocessional ILS Fund Manager Into Run-Off

Markel Corp. announced it is winding down Lodgepine Capital Management Ltd., its retrocessional insurance linked securities (ILS) fund manager, based in Bermuda. Markel launched Lodgepine in 2019, with product offerings focused on property catastrophe retrocessional investments. In 2021, Lodgepine wrote …

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7.7% Workers’ Comp Decrease Recommended in Missouri

The Missouri Department of Commerce and Insurance is recommending a 7.7 percent decrease in workers’ compensation insurance loss costs for 2022. This marks the largest overall decrease since 2009. “Recommended loss costs are decreasing significantly for 2022, due to the …

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New History Project Documents New Orleans Mid-Century Black Insurance Companies

New Orleans resident Raynard Sanders can detail the many ways Black businesses and culture thrived under the canopy of oak trees along Claiborne Avenue: the Black insurance companies, the corner lot home to the Black musicians union, the church that …

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Miami Homeowner Rejects Settlement, Must Now Pay Insurer’s Attorney Fees

Florida insurance carriers and agents have complained for years about what they say are exorbitant plaintiffs’ attorney fees in claims dispute litigation, fees that can be four or five times the settlement or judgment amount. An appeals court decision flips …

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Hedge Funds Turn Lawsuit Bets Into a $39 Billion Industry

Hedge funds, private equity and sovereign wealth funds are piling billions into the outcome of high stakes court cases at a faster rate than ever before. Litigation finance — the practice of paying legal fees up front with a promise …

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Pharmacies Defend Actions as Ohio Opioid Trial Nears Its End

Lawyers for pharmacy chains including CVS and Walgreens on Monday argued they were not to blame for the U.S. opioid epidemic, as jurors prepared to consider whether to hold them responsible for the devastation the drug crisis caused in two …

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Washington State Blames Drug Distributors in $95 Billion Opioid Trial

Washington state’s attorney general on Monday argued in court that three large drug distributors’ excessive shipments of pain pills helped fuel the U.S. opioid epidemic, calling it the “worst man-made public health crisis in history,” as the state sought to …

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Will Forever Chemicals, PFAS, Lead to Never-Ending Lawsuits?

Claims and regulatory actions involving per- and poly- fluoroalkyl substances (PFAS) are continuing to evolve at a rapid pace across the country. From the ongoing multi-district litigation in District Court of South Carolina, involving hundreds of claims, to the U.S. …

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9/11 Victim Fund Director Feinberg to Mediate for J&J Talcum Fight

The lawyer who oversaw payments to victims of the Sept. 11 terrorist attacks has agreed to mediate part of the fight between Johnson & Johnson’s former talc supplier and thousands of women who claim the company’s baby powder causes ovarian …

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People Moves: Monarch E&S Promotes Borisoff in California; Topa Names Lay Director of Programs

Monarch E&S Insurance Services, a division of Specialty Program Group/SPG Insurance Solutions in California, promoted Devon Borisoff to vice president, commercial lines leader of Monarch E&S’ West Coast operation. Borisoff has more than a decade of insurance experience. Monarch E&S …

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AM Best Upgrades Credit Ratings of Selective Insurance Group, Subsidiaries

AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” (superior) from “a+” (excellent) of the pooled members of Selective Insurance Group. Additionally, AM Best …

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Vermont Company to Pay $34M in Chemical Contamination Lawsuit

A chemical company has agreed to pay $34 million to compensate residents of a Vermont town for chemical contamination in groundwater and soil. The ChemFab plant in Bennington, owned by Saint-Gobain Performance Plastics, used industrial chemicals that spread throughout the …

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Aston Lark Continues Buying Spree With Purchase of UK Broker Philip Williams & Co.

Aston Lark, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced the acquisition of Philp Williams & Co. as the latest addition to the group. Philip Williams & Co. was established in …

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Commercial Auto Insurers Improved Results in 2020: AM Best

The U.S. commercial auto insurance market turned in results for 2020 that were the best it has seen in several years, although it still did not achieve an underwriting profit. Despite several years of price increases and corrective underwriting actions, …

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Auto Safety Regulators Looking into Complaint from Michigan Tesla Driver

U.S. auto safety regulators are looking into a complaint from a Tesla driver that the company’s “Full Self-Driving” software caused a crash. The driver was beta testing the “Full Self-Driving” software, and the Tesla SUV went into the wrong lane …

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USI Acquires Washington-Based Griffin MacLean

USI Insurance Services has acquired Bellevue, Washington-based Griffin MacLean Insurance Brokers. Founded in 1981, Griffin MacLean is an independent insurance brokerage operation serving businesses and individuals throughout Washington and Alaska. Terms of the transaction were not disclosed. USI is one …

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Alera Group Acquires California’s McSherry & Hudson Insurance Services

Alera Group, an independent, national insurance and wealth management firm, has acquired McSherry & Hudson Insurance Services, an independent, full-service insurance brokerage firm offering property and casualty, industry-specific risk management, surety, loss control, claims and employee benefits. Terms of the …

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CVS, Walgreens, Walmart to Make Closing Arguments in Ohio Opioid Trial

A jury is set to hear closing arguments on Monday in a trial in federal court in Cleveland focused on claims by two counties in Ohio that three major retail pharmacy chains – CVS, Walgreens and Walmart – fueled the …

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Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses

All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related claims, strong premium growth and resilient investment …

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COP26 Climate Agreement Targets Fossil Fuels as Key Driver of Global Warming

GLASGOW – U.N. climate talks ended Saturday with a deal that for the first time targeted fossil fuels as the key driver of global warming, even as coal-reliant countries lobbed last-minute objections. While the agreement won applause for keeping alive …

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Louisiana Apartment Complex Still Reeling From Laura Damaged by Tornado

Rising after a hard knock can be wrenching, but for Claudette Price _ who has just endured her fourth punch _ accepting defeat is not an option. In the three years she has been the leasing manager for the Claire …

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Insurers to Hike Private Market Investments; Environmental Focus Grows: BlackRock

GLASGOW / NEW YORK – Insurers plan to increase their allocations to private markets to 14% from 11% over the next two years in the hunt for yield, as they add more money to environmentally focused investment funds, BlackRock Inc …

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Berkshire Hathaway General Reinsurance Unit Launches Mideast Office in Dubai

DUBAI — The General Reinsurance unit of Warren Buffett’s Berkshire Hathaway Inc has set up a Middle East office in Dubai, Dubai International Financial Centre (DIFC) said on Monday. Gen Re will provide life and health reinsurance services across the …

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Paytm’s IPO Oversubscribed but Doesn’t See Blow-out Demand From Investors

BENGALURU – Paytm’s $2.5 billion initial public offering (IPO), India’s largest, was oversubscribed at the close of bidding on Wednesday, although investors showed less enthusiasm than for some other tech firms that have ridden the country’s IPO boom. The company, …

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Louisiana Seeks Takeover of Pair of Regional Insurance Companies Facing Insolvency

The Louisiana insurance commissioner is seeking a government takeover of Access Home Insurance Co. and State National Fire Insurance Co., two regional insurance companies that are facing insolvency due to losses from Hurricane Ida to ensure the company’s policyholders are …

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Insolvency Pool Can’t Yet Seek Reimbursement from Injured Worker

The Georgia Insurers Insolvency Pool’s demand for a refund from an injured worker must first be addressed by the state workers’ compensation board, the Georgia Court of Appeals has decided. The comp board should now decide if Victoria Palmer, who …

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Time Limit and Gap in Comp Benefits Not Unconstitutional, Florida Court Says

What happens when a worker’s injury needs follow-up surgery many years later, requiring the employee to miss months of paychecks? In Florida, he’s probably out luck if he’s hoping for workers’ compensation wage-loss benefits. But the law that created that …

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People Moves: Monarch E&S Promotes Borisoff in California; WSS Names Bernstein Senior Vice President

Monarch E&S Insurance Services, a division of Specialty Program Group/SPG Insurance Solutions in California, promoted Devon Borisoff to vice president, commercial lines leader of Monarch E&S’ West Coast operation. Borisoff has more than a decade of insurance experience. Monarch E&S …

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From Baby Powder to Implants: J&J’s Biggest Legal Liabilities As It Prepares to Split

Johnson & Johnson on Friday said it would split into two companies , hiving off its consumer health division that sells Band-Aids and Baby Powder from its pharmaceuticals and medical devices business. The separate companies will have to divide up …

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Former Governor Focuses on Saving California Forests from Wildfires

As smoke lingered in the air amid another destructive California wildfire season, former Gov. Jerry Brown invited a group to his ranch for an urgent conversation: What more could be done to save California’s forests from wildfires? The reality of …

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Pinnacol in Colorado to Decrease Workers’ Comp Rates in 2022

Pinnacol Assurance in Colorado announced it will lower rates for the carrier’s 53,000-plus policyholders in Colorado by an average of 11% in 2022. The decrease will become effective Jan. 1, 2022. Pinnacol has decreased rates for seven consecutive years for …

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Federal Court Continues Stay on OSHA’s COVID Vaccine/Test Mandate on Businesses

A federal court declined Friday to lift its stay on the Biden administration’s vaccine mandate for businesses with 100 or more workers. The New Orleans-based 5th U.S. Circuit Court of Appeals granted an emergency stay last Saturday of the requirement …

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Connecticut Aircraft Parts Manufacturer Cited for Workplace Safety Violations

A Connecticut aircraft parts manufacturer did not take required steps to identify potential exposures and protect employees from hexavalent chromium and cadmium – both known carcinogens – at its Bloomfield facility, a U.S. Department of Labor workplace safety inspection found. …

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The Pittsburgh Penguins Settle Suit Over Ex-Minors Coach Accused of Assault

The Pittsburgh Penguins have settled a federal lawsuit filed by a former minor league assistant and his wife, who accused the team of negligently retaining a coach who sexually assaulted and harassed her and then retaliating against him for reporting …

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Insuring Cannabis Summit: Too Many Cannabis Operators View Coverage as Compliance Check Box

This is part of a series of articles from Insurance Journal’s annual Insuring Cannabis Summit on Oct. 14. You can find more articles from the summit at the bottom of this one. One big reason carriers aren’t offering a broad …

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California Preparing for Possible Winter Pandemic Surge

California has begun positioning equipment and locking in contracts with temporary health care workers in preparation for another possible winter surge of coronavirus cases, Gov. Gavin Newsom said. The most populous state in the country still is doing comparatively well …

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Roadkill Report Names California’s Deadliest Highways, Costs

Tens of thousands of mountain lions, bears, bighorn sheep, squirrels, birds and lizards have met their fate in collisions with vehicles across California, according to a “roadkill” report that names a San Francisco Bay Area highway as the state’s deadliest …

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Three Plead Guilty in Health Care Scam Involving Orthotic Braces

Two New Jersey men and a Florida man pleaded guilty to running a health care fraud scheme involving orthotic braces. Nicholas Defonte, 73, and Christopher Cirri, 63, both of Toms River, New Jersey, and Pat Truglia, 53, of Parkland, Florida, …

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‘Rust’ Crew Member Sues Alec Baldwin, Others in California over Shooting

The head of lighting on the film “Rust” filed a lawsuit Wednesday over Alec Baldwin’s fatal shooting of cinematographer Halyna Hutchins on the New Mexico set of the Western, alleging negligence that caused him “severe emotional distress” that will haunt …

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Boeing Reaches Compensation Terms With Victims of Ethiopian Airlines Crash

Boeing Co. agreed on Wednesday to acknowledge liability for compensatory damages in lawsuits filed by families of the 157 people killed in the 2019 Ethiopian Airlines 737 MAX crash, according to a filing in U.S. District Court in Chicago. As …

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Draft COP26 Climate Deal Aims to Balance Demands of Developing and Richer Nations

GLASGOW – A new draft agreement for the U.N. climate conference in Glasgow on Friday presses countries to be more ambitious in their plans to tackle global warming, while walking a fine line between the demands of developing and richer …

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People Moves: Chubb Promotes Walker to Head of Aerospace; Fidelis Names Stewart, Davern as Co-Deputy CUOs, Bellamy as Head of Property Reinsurance

This edition of International People Moves details promotions at the insurers Chubb and Fidelis Insurance. A summary of these new hires follows here. Chubb Promotes Walker to Head of Aerospace Chubb announced the promotion of Emma Walker as head of …

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KPMG Sued for $600M Over Role in Insolvency of Dubai Private Equity Firm Abraaj

KPMG LLP was sued for at least $600 million over its role in the insolvency of Dubai private-equity firm Abraaj Group, the latest in a string of complaints of sloppy auditing made against the Big Four firm. The claimants, two …

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NFP Acquires Western Canada’s Foster Park Brokers Inc.

NFP, the New York City-based insurance broker and consultant, announced the acquisition of Canada’s Foster Park Brokers Inc. Details of the transaction, which closed on Nov. 1, 2021, were not disclosed. Foster Park is one of Western Canada’s largest independent …

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Berkshire Hathaway Specialty Insurance Opens Third Office in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded in Germany, opening a new office in Frankfurt. The company already has offices in Cologne and Munich. “BHSI is committed to building long-term relationships by providing sustainable technical underwriting solutions and …

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Hannover Re Sells Stake in HDI Global Specialty to Position Itself as Pure Reinsurer

Hannover Re is selling its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE, effective Dec. 31, 2021. HDI Global SE will then hold 100% of the shares. Financial details of the …

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Chinese Insurer Ping An Plans to Sell $2.1B Stake in Autohome: Sources

HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently the biggest shareholder of …

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Shipping Firms in Crosshairs as Investors, Insurers Shun Coal

Shipping companies that transport the world’s coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign …

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Astroworld Festival Death Tolls Rises to 9

A Texas A&M University student critically injured in the Astroworld music festival has died, making her the ninth person to die from a crowd surge that crushed people so tightly they couldn’t breathe. Bharti Shahani, a 22-year-old, died Wednesday, Nov. …

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Judge Approves $625 Million Settlement in Flint, Michigan Water Litigation

A judge approved a $626 million deal to settle lawsuits filed by Flint residents who found their tap water contaminated by lead following disastrous decisions to switch the city’s water source and a failure to swiftly acknowledge the problem. Most …

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Insurers for Stores in High Crime Areas on Notice after Georgia Appeals Court Affirms $43 Million Verdict

A Georgia appeals court has upheld a $43 million premises liability verdict against the CVS Pharmacy chain, ruling that the company failed to take security measures to prevent the shooting of a patron in 2012. The case is the latest …

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Risky Business: Climate Change Turns Up Heat on Insurers, Policyholders

Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home …

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Pork Plants Allowed to Operate Faster in Trial Program

The U.S. Department of Agriculture said on Wednesday that nine pork plants can apply to operate faster processing-line speeds under a one-year trial, after a federal judge in March struck down a Trump-era rule that removed line speed limits. Faster …

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Westfield Insurance to Buy Argo’s U.S. Specialty Property Renewal Rights

Specialty insurer Argo Group International Holdings has agreed to sell the renewal rights of its U.S. specialty property business to Westfield Insurance of Ohio. This transaction includes Argo’s shared and layered property business, which underwrites catastrophic-focused excess and surplus property …

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