Exclusion Wording Not Clear, Florida Appeals Court Says in Air Quality Case

Despite repeated references to “water damage,” the ambiguous wording of a policy exclusion by Southern-Owners Insurance Co. does not necessarily bar those types of claims, a Florida appeals court found in a win for a well-known mold testing firm. “While …

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State Inspector Cites Regulatory Lapses in Fatal New York Limo Crash

New York regulators failed to do all they could to sideline a poorly maintained stretch limousine that careened down a hill and crashed in 2018, killing 20 people, according to a state watchdog. State Inspector General Lucy Lang released a …

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Insured Losses for Australia’s October 2021 Storms Estimated at A$972M: PERILS

Insured losses for the severe storms, which hit Southern Australia on Oct. 28-30, 2021, are estimated at A$972 million (US$623.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final estimate dropped …

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South Korea Begins Investigation Into Deadly Halloween Crush, as Death Toll Rises

South Korean investigators combed footage on Monday from more than 50 state and private closed-circuit TV cameras as well as from social media looking for answers to how a surge in Halloween party-goers trapped in narrow alleys killed so many. …

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Australia’s Hacking Frenzy Spurred by Understaffed Cybersecurity Workforce

A swathe of hacks on some of Australia’s biggest companies has made the country a target for copycat attacks just as a skills shortage leaves an understaffed, overworked cybersecurity workforce ill-equipped to stop it, technology experts said. As Monday saw …

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3 Maryland State Police Officers File Discrimination Lawsuit

Three Maryland State Police officers have filed a proposed federal class-action lawsuit against the department, alleging widespread racial discrimination in the agency. The lawsuit, filed Monday in U.S. District Court in Greenbelt, alleges that the state police disciplines officers of …

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Post-Sandy Repairs Help But Not But Enough for Next Big Storm

After Superstorm Sandy struck the northeast U.S. in 2012, an unprecedented effort began to fortify the densely populated coastline against the next big storm. Thousands of homes were raised on pilings. Concrete and steel walls meant to help hold back …

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Hurricane Ian’s Lucrative Cleanup Deals Generating New Tempests

It has been a month since Hurricane Ian wiped out parts of southwest Florida. Now multimillion-dollar cleanup contracts are generating new tempests in the Category 4 storm’s wake. Contractors who remove debris and perform post-storm repairs are fighting over local …

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Harvard, UNC Race-Based Admissions Cases Put Supreme Court Justices on Collision Course

A showdown over college affirmative action at the US Supreme Court next week pits the court’s liberal wing against Chief Justice John Roberts and his dream of a constitutional ban on racial preferences. The court will hear arguments Monday on …

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Credit Suisse to Sell Most of Securitized Product Unit to Apollo, PIMCO

Credit Suisse Group AG has signed an exclusivity agreement with a group of investors led by Apollo Global Management Inc. to sell the bulk of its securitized products group business. If the deal happens, the group, which also includes Pacific …

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Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes

Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5 billion in claims related to …

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Dubai Aerospace Sues 11 Insurers, Including Lloyd’s, AIG, Chubb, for Jets Stuck in Russia

Aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd’s of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600 million for 19 aircraft stuck in Russia. The …

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Police Think Crash That Killed 4 Teens May Be Linked to TikTok Challenge

A car crash in Buffalo, N.Y. that left four teenagers dead may have been linked to a TikTok challenge, a police commissioner said. A total of six teenagers were in a speeding Kia that crashed about 6:30 a.m. Monday, Buffalo …

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Mechanical Issue May Have Caused Deadly Seaplane Crash Off Washington Island

SEATTLE (AP) – A mechanical issue may have caused the seaplane crash that killed 10 people off an island in Washington state last month, U.S. investigators said Monday. The National Transportation Safety Board, the agency investigating the Sept. 4 crash …

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No Reports of Damage From 5.1 Quake Strike in San Francisco Bay Area

SAN FRANCISCO (AP) – A magnitude 5.1 earthquake rattled the San Francisco Bay Area on Tuesday, causing delays of some commuter trains. There were no immediate reports of damage or injuries. The U.S. Geological Survey said the 11:42 a.m. quake …

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China’s Fosun Weighs Options for Hong Kong-Based Peak Re: Sources

Fosun International Ltd. is weighing strategic options for its Hong Kong-based Peak Reinsurance Co. as the Chinese conglomerate looks to pay down debt, according to people familiar with the matter. Fosun is working with a financial adviser as it considers …

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Indiana Man Pleads Guilty to Arson of Barn Fires

A man has pleaded guilty in connection with a series of barn fires set last year in several northern Indiana counties. An Elkhart County judge gave preliminary approval Monday to the plea agreement with Joseph Hershberger who was charged with …

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Buffalo Diocese Agrees to Clergy Oversight Plan as Part of Abuse Settlement With State

The Roman Catholic Diocese of Buffalo has agreed to strengthen its oversight of clergy accused of sexual misconduct to settle a lawsuit brought by New York’s attorney general alleging the church mishandled abuse claims and protected predatory priests, authorities said …

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Rhode Island Bus Service, Health Insurer Sued Over Data Breach Victims Sue

Two people whose personal information was compromised in a data breach at Rhode Island’s public bus service that affected about 22,000 people sued the agency and a health insurer this week seeking monetary damages and answers. The class-action suit filed …

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Moody’s Cuts Fosun International’s Credit Rating Amid Concerns Over Asset Sales

Global credit rating agency Moody’s downgraded Fosun International Ltd. by one notch on Tuesday and revised its outlook to “negative” from “ratings under review” amid concerns over the firm’s accelerated asset sales. The downgrade to B2 from B1 followed the …

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Flexsteel to Pay $9.8M For Contamination Cleanup at Indiana Site

Flexsteel Industries Inc. has agreed to a consent decree that requires it to pay $9.8 million for the cleanup of contamination at the Lane Street Ground Water Contamination Superfund Site (Lane Street Site) in Elkhart, Indiana, and to reimburse the …

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Britain’s Financial Services Execs Hope Sunak Can Steady the Ship After Market Chaos

After seven weeks in which Britain’s reputation for financial credibility has been rocked by political missteps, senior finance executives have given new prime minister Rishi Sunak a cautious welcome. Sunak is a known quantity to Britain’s banks, asset managers and …

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Berkley Cooling On Professional Lines, Firing Up Property Cat Re Engines

Property cat reinsurance: “More.” Professional liability insurance: Not so much. The president and chief executive officer of W.R. Berkley Corp., Robert Berkley, Jr., shared his company’s appetite for short-tail and long-tail coverages during an earnings conference call on Monday—flagging property …

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Fagan to Replace Koscielny at Florida Peninsula Insurance

The Florida Peninsula Insurance group of companies announced that Joe Fagan will replace Michael Koscielny as vice president of underwriting for Peninsula and its subsidiary, Edison Insurance Co. Fagan has spent 16 years in leadership positions with Travelers Insurance, including …

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New England Patriots Owner Alleges Insurer Fumbled Media Liability Claims

Kraft Sports and Entertainment, owner of the NFL’s New England Patriots, has sued Hiscox Insurance alleging the insurer has failed to respond under media liability insurance policies to multiple claims of copyright infringement brought against the sports company. Kraft Sports, …

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Bill Would Require Front-view Safety Cameras for New Vehicles

For several years now, new vehicles have been required to have rear-view cameras – a safety feature designed to help prevent autos and trucks from backing over children. But most vehicles on the road today do not have similar camera …

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People Moves: HDI Global Specialty UK Promotes Wilcox in DA; Howden RE Hires 3 From Aon for New Disability, L&H Reins. Unit; IQUW Taps Volante’s Waltier for Prof. Lines

This edition of International People Moves details appointments at HDI Global Specialty, Howden RE and HDI Global Specialty. A summary of these new hires follows here. HDI Global Specialty UK Promotes Wilcox as Director of Delegated Authority Specialty lines insurer …

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Companies Increasingly Keep Climate Pledges Secret as ‘Green Hushing’ Takes Off

Companies are increasingly trying to keep their climate pledges away from public scrutiny. The phenomenon, known as green hushing, has become pervasive even as businesses set more ambitious internal targets, according to a survey by South Pole, a climate consultancy …

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AmTrust Purchases DUAL North America’s Middle Market Management Liability Practice

AmTrust Financial Services Inc. announced it has acquired the middle market management liability business of DUAL North America, which includes its underwriting team and renewal rights to the portfolio. As part of the transaction, seven DUAL professionals will join AmTrust’s …

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Re/Insurers Grapple With How to Respond to Claims From Nord Stream Pipeline Blasts

With the mystery of the blasts that destroyed undersea gas pipelines between Russia and Germany unsolved, Nord Stream 1’s insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars in potential claims. Munich Re and …

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Maryland to Audit 100 Deaths of People in Police Custody

Maryland will review about 100 autopsies of people who died in police custody involving physical restraint because of concerns about the state’s former medical examiner’s testimony in the death of George Floyd, the state’s attorney general said. A team of …

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Toymaker Mattel Agrees to Pay $3.5M to Settle SEC Charges

California-based Toymaker Mattel Inc has agreed to pay $3.5 million to settle U.S. Securities and Exchange Commission (SEC) charges over financial misstatements in 2017, the agency said on Friday. Mattel, which makes Barbie and Fisher-Price toys, incorrectly reported its losses …

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Everest Insurance Launches Branches in France and Germany

Everest Insurance, the insurance division of Everest Re Group Ltd., announced its further expansion into the European market with the opening of two new branches in Paris, France and Düsseldorf, Germany. Plans for a third European branch opening in Madrid, …

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Full Self-Driving Won’t Be Approved For Teslas This Year: Musk

Tesla Inc.’s advanced driver assistant software won’t gain regulatory approval in 2022, CEO Elon Musk said in remarks last week, which indicate the company is not yet able to satisfy authorities that its cars can be driven without someone behind …

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Biden ‘Social Cost of Carbon’ Climate Risk Measure Upheld by U.S. Appeals Court

A U.S. appeals court on Friday upheld the “social cost of carbon” calculation used by President Joe Biden’s administration, which sharply boosts the price tag policy makers will put on the environmental impact of greenhouse gas emissions from that used …

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India’s Reliance Industries to Create Financial Services Unit for Its Consumer Businesses

Reliance Industries Ltd., will create a financial services unit to feed its consumer businesses that are contributing an increasing share of profits to the retail-to-refining conglomerate. It will also restructure the engineering and projects divisions as it sets about carrying …

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Climate Change at Top of Insurers’ Concerns, Followed by War-Related Risks

Climate change remains at the top of insurance companies’ biggest concerns even as Russia’s invasion of Ukraine stokes geopolitical and energy-related fears within the industry. Global warming is considered as the biggest risk to society in the next five to …

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Republican National Committee Sues Google Over Email Spam Filters

he Republican National Committee (RNC) filed a lawsuit against Alphabet Inc’s Google on Friday for allegedly sending its emails to users’ spam folders. The U.S. political committee accuses the tech giant of “discriminating” against it by “throttling its email messages …

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Harvard, Zurich Insurance At Odds Over $15M in Insurance for Admissions Program Defense

Harvard University has already exhausted $25 million in insurance coverage defending its affirmative action admissions program and is in court trying to force another of its insurers to cover up to $15 million more. While the $25 million costs to …

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Amazon Faces $1 Billion UK Class-Action Lawsuit Over Use of ‘Secretive’ Algorithm

Amazon.com Inc. faces a UK class-action lawsuit over claims the tech giant uses a “secretive” algorithm to abuse its dominant position in the online marketplace. Amazon has made millions of customers pay more by hiding better deals on platforms to …

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Taiwan’s Watchdog Says Insurers Have Enough Capital to Withstand COVID Claim Surge

Taiwan’s insurance industry has buffered itself against surging COVID claims after raising capital, the head of the island’s market regulator said. The property insurance companies have no problems fulfilling their obligations in paying claims so far, Huang Tien-mu, the chairperson …

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Global Natural Disasters Cost Insurers $99B in Q3, With Economic Losses of $227B: Aon

Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion – of which $99 billion was covered by public and private insurers, which means that insured losses will top $100 billion …

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Crist’s Claim of Cutting Insurance Rates ‘Mostly True,’ Politifact Says

A fact-checking publication known for its thorough examination of claims made by politicians has deemed Charlie Crist’s statement that he once reduced Florida property insurance rates by 10% to be “mostly true.” Crist, the Democratic nominee for Florida governor, has …

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New Hampshire County Defeats ‘Deliberate Indifference’ Claim Over Inmate’s Death

A federal court has dismissed claims that New Hampshire’s Hillsborough County, along with the nurses and outside medical providers for the county’s Valley Street Jail, are liable in the death of an inmate who experienced alcohol withdrawal and later died. …

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Climate Concern Dropped Amid the Pandemic, but Not for Everyone

Evidently, climate concern dropped last year. A new Gallup World Risk Poll shows fewer than half of those questioned said climate change poses a “very serious threat” to their nations in the next 20 years. It was down overall, but …

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Federal Judge Dismisses FedEx From Indiana Shooting Lawsuit, Citing Work Comp Act

A federal judge has dismissed FedEx from a lawsuit filed by relatives of five of the eight people who were fatally shot last year at an Indianapolis warehouse by a former employee of the shipping giant. U.S. District Judge James …

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Pakistan’s Catastrophic Flood Damage Estimated to Cost $40 Billion: Officials

The damage from this summer’s catastrophic flooding in Pakistan is now estimated at $40 billion, as much as 25% higher than projections a month ago in another blow to the cash-strapped country. The new estimate was shared in the first …

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Insurers Increasingly Withdraw From Fossil Fuel Projects: Climate Activists’ Report

Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a dozen groups that track what policies insurers …

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Australia’s No. 1 Health Insurer Confirms Massive Data Breach, Theft of Patient Details

Australia’s biggest health insurer said on Thursday a criminal had apparently stolen customers’ medical information as part of a massive breach of data, fueling concern about a wave of high-profile cyber attacks. Medibank Private Ltd., which covers one-sixth of Australians, …

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Pipeline Operator Agrees to $50M California Spill Settlement

A pipeline operator has agreed to pay $50 million to thousands of Southern California fishermen, tourism companies and property owners who sued after an offshore oil spill last year near Huntington Beach. A proposed settlement between Amplify Energy Corp., which …

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$32M to Settle California Lawsuit Over Boy’s Abuse Death

Los Angeles County agreed to pay $32 million to the family of a 10-year-old boy who died after allegedly being tortured and abused by his mother and her boyfriend. The Board of Supervisors unanimously approved a deal in a lawsuit …

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Brexit Results in ‘Substantial Negative Impact’ on Trade Between UK and EU: Report

Brexit resulted in a “substantial negative impact” for trade in both directions between the European Union and the UK, according to Ireland’s Economic and Social Research Institute. Trade from UK to the EU dropped 16% while there was a 20% …

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People Moves: Lockton Re Taps CyberCube’s Brew for London Cyber Practice; Howden Hires Tysers Godfrey for Equine Division; Carpenter’s Delegated Authority Unit Hires 3

This edition of International People Moves details appointments at three brokers: Lockton Re’s Cyber Practice, Howden’s Equine division and Guy Carpenter’s delegated authority unit. A summary of these new hires follows here. Lockton Re Taps CyberCube’s Brew to Lead London …

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Australian Insurer Medibank Says Hackers Claim to Have Stolen Customer Data

Australia’s Medibank Private Ltd. said on Wednesday an unnamed hacker group had contacted it negotiate about customer data it claimed to have retrieved from the health insurer’s IT systems. The news comes six days after Medibank reported an attempted ransomware …

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EU’s Sanctions Against Russia Could Deprive Some of World’s Tanker Fleet of Insurance

The European Union’s latest sanctions on Russian petroleum could end up depriving a swath of the world’s tanker fleet of industry standard insurance, a move that threatens to undermine US efforts to avert an oil supply shock. The bloc’s eighth …

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People Moves: New QBE Marine Hires; Hirschorn Joins Lockton as U.S. Cyber Claims Lead

QBE Appoints New Marine VPs QBE International Markets is increasing its presence in the US marine insurance space and has appointed Sean Dollahon, vice president, US marine manager, and Katie McCord, vice president, senior marine underwriter, to its team. With …

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Washington Chemical Processor Fined Nearly $200K for 60-Plus Safety Violations

A manufacturing company that works with dangerous chemicals in Moses Lake, Washington, faces $192,620 in fines for 46 serious and 17 general safety and health violations. Two Rivers Terminal LLC formulates products for agricultural fertilizer, airports, pulp and paper, and …

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Agents Want End to California Auto Insurance Rate Moratorium

An insurance agent group in California is opining on the impact of California Insurance Commissioner Lara’s recent auto insurance rate decisions on California consumers. They do not like Lara’s auto insurance rate moratorium. “Commissioner Lara’s Rate Moratorium and his refusal …

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ExxonMobil Exits Russia After Putin Expropriates Assets Valued at More Than $4 Billion

Exxon Mobil Corp. said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. Exxon did not say …

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Russia Oil Exporter Rosneft Moves Into Tanker Chartering as Western Sanctions Loom

Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said. Previously, state controlled Rosneft, which produces …

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Swiss Re Expects Claims From Hurricane Ian to Bring Q3 Loss

Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately $1.3 billion. “While the 2022 target of 10% Group ROE is unlikely to be reached …

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South Carolina Approves Cut in Credit Property Insurance Rates

The South Carolina Department of Insurance has approved new, tentative rates for credit property insurance in the state. The allowed rates amount to a 9.1% decrease from 2021’s levels, acting Director Michael Wise said in a bulletin posted this week. …

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Takeaways from Our Conversation on Must-Know Cannabis Lawsuits

The lay of the legal land in cannabis today largely involves investor suits, trademark issues, and employment practices litigation. But legal matters arising out of compliance complaints may be among the biggest suits worth noting, such as the lawsuit against …

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Federal Judge Dismisses Multiple Pennsylvania COVID-19 Claims

A Western Pennsylvania federal district judge has dismissed eight cases seeking payment for COVID-19 business interruption coverage from several insurers including Cincinnati Insurance, Travelers Insurance and Hartford. Financial Services. Citing the district’s court’s own previous ruling in 30 cases against …

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Delaware Workers’ Compensation Rates to Drop by Double Digits: Navarro

Delaware workers’ compensation insurance rates will decrease for the sixth year in a row, effective December 1, 2022. Both the voluntary market and the residual market will see rate decreases in the double digits. The Delaware Compensation Rating Bureau (DCRB) …

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Muscle Car Theft Ring Arrests Follow Postal Worker Holdup

Thieves are using cloned key fobs to steal Dodge muscle cars and other high-powered vehicles directly from dealerships and even automakers in Michigan, then selling them for tens of thousands of dollars less than their value, according to authorities and …

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Inszone Insurance Completes Acquisition of Precision in Colorado

Inszone Insurance Services acquired Precision Insurance in Colorado. Precision Insurance was opened in November of 2017 by Heather McBroom. Inszone was founded in 2002 and is headquartered in Sacramento, California. Inszone provides property/casualty insurance, along with employee benefits solutions.

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District Sues Chemical Manufacturer Over Anacostia River Pesticide Pollution

The District of Columbia filed a lawsuit in D.C. Superior Court Thursday against chemical manufacturer Velsicol Chemical, LLC, claiming it violated city environmental laws by polluting a major waterway, the Anacostia River and the surrounding area for decades. A complaint …

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Climate Activists Appear in UK Court After Throwing Soup on Van Gogh Painting

Three climate activists appeared in a London court on Saturday on charges of criminal damage after protests including throwing soup over Vincent van Gogh’s “Sunflowers” painting in the National Gallery. Two women, age 20 and 21, were charged in relation …

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Series of Tesla Fires in Florida Linked to Saltwater Damage From Hurricane Ian

A Florida senator is calling for action from the Transportation Department and automakers after a series of electric vehicle fires tied to Hurricane Ian. The storm caused flooding and destruction across the state, and fire officials say they are still …

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AXIS to Stop Insuring Energy, Mining Without Backing of Indigenous Community

Reinsurer AXIS Capital said it would refuse to underwrite energy, mining and other projects that did not have the backing of local indigenous communities, in a move welcomed by campaigners as setting a new industry standard. The decision follows years …

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5 Years On, Key #MeToo Voices Take Stock of the Movement

Once again, disgraced mogul Harvey Weinstein sits in a courtroom, on trial in Los Angeles while the reckoning the accusations against him launched marks a significant milestone this month: It’s been five years since a brief hashtag – #MeToo – …

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Hacker Gets $50 Million in Heist of DeFi’s Mango

The community of decentralized-finance application Mango DAO on Saturday got back a portion of about $100 million stolen this week after letting the hacker keep about $50 million of the funds. The settlement wraps up several days of tense negotiations …

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Hemphill Installed as PIA President

Gerald F. Hemphill was installed as president of the National Association of Professional Insurance Agents during the organization’s Sept. 22 board of directors meeting held in San Diego, California. Hemphill, of Richmond, Virginia, was sworn in together with his four …

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Florida Building Codes Made a Big Difference for Newer Homes in Ian, Reports Show

In the hardest-hit parts of southwest Florida, many newer structures survived remarkably intact in Hurricane Ian’s winds, suggesting that updated Florida building codes are making a difference in reducing property losses, according to early assessments. “From what I saw, the …

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Flash Floods Again Lash Southeast Australia, Forcing Evacuations

Thousands of people across Australia’s southeast were asked to evacuate their homes on Friday, including some in a western suburb of Melbourne, after two days of incessant rains triggered flash flooding and fast-moving waters burst river banks. Large parts of …

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Plastic Pollution Could Trigger $20 Billion in Lawsuit Payouts

Litigation could cost the plastics industry and its insurers $20 billion in the US over the next eight years, according to a report backed by the United Nations and an Australian billionaire. Companies including petrochemical and consumer goods firms may …

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Andy Warhol, Prince at Center Stage in Supreme Court Case

Andy Warhol and Prince held center stage in a copyright case before the Supreme Court on Wednesday that veered from Cheerios and “Mona Lisa” analogies to Justice Clarence Thomas’ enthusiasm for the “Purple Rain” showman. Despite the light nature of …

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Illinois Home Warranty Company to Pay $175K in Disability Discrimination Settlement

Pivotal Home Solutions, a home warranty company headquartered in Naperville, Illinois, will pay $175,000 and furnish other relief to settle a disability discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced According to the …

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World’s Big Polluters Promise Net-Zero but Most Have Little to Show: Report

When it comes to net-zero, a lot of companies are more talk than action. That’s the conclusion of a new report from Climate Action 100+, an investor alliance with combined assets of more than $68 trillion, which shows that promises …

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Four in Five of World’s Cities at Risk From Heat Waves, Floods, Droughts: Study

Four in five cities across the world are facing significant climate hazards such as heat waves, floods and droughts, data from environmental disclosure non-profit CDP showed on Thursday. CDP’s report “Protecting People and the Planet” surveyed 998 cities from across …

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Federal Court Saves New York’s Gun Law Pending Review of Lower Court Order

A federal appeals court on Wednesday allowed New York to continue enforcing its new gun law as it considers a lower court ruling that would block key provisions. The decision from the 2nd U.S. Circuit Court of Appeals came six …

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Cyber MGA Coalition and BDT Capital Partners Launch Bermuda Reinsurer Ferian Re

Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …

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U.S. to Issue New Cybersecurity Requirements for Critical Aviation Systems

A U.S. transportation security agency said Wednesday it plans to issue new cybersecurity requirements for some key aviation systems after several U.S. airport websites earlier this week were hit with apparently coordinated denial-of-service attacks. The Transportation Security Administration (TSA) said …

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People Moves: Aon Announces New Lineup for UK Commercial Risk Team; Zurich Appoints Seach as Group CUO, Succeeding Robinson

This edition of International People Moves details appointments at Aon and Zurich Insurance. Aon Announces New Lineup for UK Commercial Risk Team A summary of these new hires follows here. Insurance broker Aon plc has announced a new lineup for …

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Australian Health Insurer Medibank Reports Cyber Incident

Australian health insurer Medibank Private said on Thursday it will isolate and remove access to some customer-facing systems as it detected unusual activity on its network. The company said it took “immediate steps to contain the incident, and engaged specialized …

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People Moves: PEMCO Adds Sipes in Washington; Fernandez Named to Professional Independent Insurance Agents of Colorado Board

PEMCO Mutual Insurance has welcomed Heather Sipes to the Seattle, Washington-based insurer’s marketing communications as a communications manager. Sipes has more than11 years of experience in marketing communications, most recently serving as managing editor for Inspira Literary Solutions. Sipes will …

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Report: More than Half of California COVID-19 Workers’ Comp Claims in Healthcare

More than a half of all reported COVID-19 indemnity claims in California continue to arise from workers in the healthcare sector, according to a new report from the Workers’ Compensation Insurance Rating Bureau. The WCIRB released the information this week …

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Learning to Time Travel: Why Insurers Should Embrace Both the Future and the Past

The first insurance company in the U.S., The Friendly Society, was established in Charleston, South Carolina, in 1735, according to the Insurance Information Institute’s insurance handbook, meaning the industry is now nearly 300 years old. But experts at the Insuretech …

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Extreme Weather Poses as Big a Threat to Global Energy Security as Ukraine War: WMO

Energy infrastructure will become more vulnerable to extreme weather such as heatwaves and hurricanes, the World Meteorological Organization warned on Tuesday, with a senior official saying that climate change poses as big a threat to global energy security as the …

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Stonybrook Capital Says Hurricane Ian Is Largest-Ever Insured Loss Event at Over $75M

According to Stonybrook Capital, the damage from Hurricane Ian will result in the largest-ever insured loss event in nominal dollars. The advisory and investment banking firm focused on the insurance industry said the all-in insured loss and loss adjustment expenses …

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US Airport Websites Knocked Offline by Pro-Russia Hackers

A pro-Russian hacktivist group is claiming credit for a series of disruptions that temporarily knocked the websites of some US airports offline. The group, called Killnet, has engaged in a series of cyberattacks in recent months against Western targets, including …

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People Moves: Duffey at RPS, Drumwright at Starke Agency

RPS Elevates Duffey as President of Signature Programs Risk Placement Services, a specialty insurance distributor, announced that Russell Duffey will be president of its program administration division, known as RPS Signature Programs. Duffey, based in Georgia, joined RPS in 2000 …

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Virginia Healthcare Firm Ordered to Pay $703K for Overtime Pay, Retaliation, Damages

The U.S. Department of Labor reported that it has obtained a default judgment to recover $703,609 in back wages and liquidated damages for 38 employees denied overtime pay by a Chesapeake, Virginia home healthcare company and its owner who officials …

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$2.5M in Underreported Payroll by California Business Owners

Karamjit Nijjar, 57, his wife Rajinder Kaur Nijjar, 55, and their daughter Mandip Nijjar, 31, were arraigned today on four felony counts each for their involvement in a workers’ compensation insurance fraud scheme after allegedly underreporting over $2.5 million in …

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C3 Risk and B. Wood in California Merge Employee Benefits Practice

C3 Risk & Insurance Services and B. Wood Insurance in San Diego, California, have joined to expand employee benefits plan services. The merger went into effect on Oct. 1. The company will operate under the C3 Risk & Insurance Services …

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Lloyd’s Finds No Evidence of Data Compromise From Cyber Attack

Lloyd’s of London said on Monday that its investigation into a possible cyberattack had found no evidence of data compromise. “The investigation has concluded that no evidence of any compromise was found and as such Lloyd’s has been advised that …

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Information Expected to Emerge Slowly in Hospital Chain Cyberattack

Details of an apparent cyberattack on one of the largest health systems in the U.S. were slow to emerge as security experts on Oct. 7 warned that it often takes time to assess the full impact on patients and hospitals. …

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Mississippi River Reopens to Barge Traffic After Low Water Closures

Two stretches of the southern Mississippi River were reopened to commercial traffic over the weekend after dredging operations deepened the shipping channel near Memphis, Tennessee, and near Stack Island, Mississippi, the U.S. Coast Guard said on Monday. The major shipping …

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California Doctor Admits Illegally Prescribing 120K Opioid Pills

A Southern California doctor has pleaded guilty to writing prescriptions for more than 120,000 opioid pills over a six-year span, including to an impaired driver who struck and killed a bicyclist, federal prosecutors said. In his plea agreement, Dr. Dzung …

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Insurers’ Claims Investigation Work Product Protected After Alabama High Court Ruling

A company cannot be compelled to turn over its risk management work product that may include attorney-client information and claims investigators’ opinions, the Alabama Supreme Court decided. The case involved the Federal Employers’ Liability Act (FELA), which applies mostly to …

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Discriminatory Policing suit Against Virginia Town to Go Forward

A lawsuit against a Virginia town that alleges its police department has operated in a way that led to unlawful racial discrimination and violated individuals’ constitutional rights can move forward, a judge ruled Thursday. The Office of the Attorney General …

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FAA Warns About Type of Seaplane that Crashed in Washington

Federal authorities have issued a warning about a part of the tail in the type of seaplane that crashed in Washington state’s Puget Sound last month, killing 10 people. The Seattle Times reports that the Federal Aviation Administration has issued …

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Air France and Airbus Face Manslaughter Trial in French Court Over Rio-Paris Crash

PARIS (AP) – Nicolas Touillou had just proposed marriage to his girlfriend. Nelson Marinho Jr. was heading off on a new oil exploration job. Eric Lamy was about to celebrate his 38th birthday. They were among 228 people killed in …

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Mom Whose Son’s Death Led to Missouri Jail Reforms Wins $1.2 Million Settlement

A mother whose son died less than an hour after he was transported from a Missouri jail to a state prison has won a $1.2 million settlement in a case that helped lead to suspensions, firings and reforms. The St. …

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Ian Death Toll in US Hits 100 Across Three States

The death toll from Ian reached 100 on Friday, making it the third most deadly hurricane to hit the mainland in a decade. The number of confirmed deaths across three states continues to climb nine days after Ian roared ashore …

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RMS Range of Insured Losses from Ian $53-$74B, ‘Best Estimate’ of $67B

Catastrophe modeler RMS chimed in on Hurricane Ian with an estimate of private-market insured losses from the storm of $67 billion. The Moody’s Analytics company said the amount was a “best estimate,” and also supplied a range of between $53 …

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Insured Damages From Hurricane Ian $31-$53B: CoreLogic

Property data and analytics provider CoreLogic included new and updated projections of storm surge and flood losses for Hurricane Ian for a final tally of between $41 billion and $70 billion in insured and uninsured flood and wind losses. Insured …

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Ending Florida Agency Led to More Development, Losses in Ian, Report Says

The shuttering of a state agency that was created to manage growth in Florida’s vulnerable coastal areas may have helped fuel the steady development that during Hurricane Ian resulted in some of the largest insured property losses in state history. …

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AM Best Says Tower Hill ‘Rearranging the Furniture;’ Faces Surplus, Capital Problems

The downgrade of one of Tower Hill’s insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian nosed into southwest Florida, has led to new speculation that Tower Hill could be the next insurer to falter …

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Two New York Hospitals to Pay $165M to Victims of Abuse by Gynecologist

Two New York hospitals have agreed to pay more than $165 million to 147 former patients who have accused a former gynecologist of sexual abuse and misconduct. Columbia University Irving Medical Center and NewYork-Presbyterian announced the agreement Friday. Last year, …

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City of Rochester Agrees to Pay $12M to Family of Black Man Killed by Police

City officials agreed to pay $12 million to the children of Daniel Prude, a Black man who died after police held him down until he stopped breathing on a snowy street in Rochester, New York. A federal judge approved the …

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Munich Re Commits to Stricter Policies for Oil & Gas Underwriting, Investments

Munich Re, the world’s largest reinsurer, on Thursday announced stricter policies for investing in and underwriting oil and gas projects, drawing praise from environmental activists. The German reinsurer said on its website that as of April 2023 it would not …

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Florida Citrus Industry Squeezed by Hurricane Ian; Crop Insurance to Cover Some Losses

The waters have receded, but the stink lingers. As Emma Reynolds Ezell surveys the damage that a night of 100 mile-per-hour winds wrought on her orange groves, she just can’t get over the stench. It’s nothing like the usual sweet …

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Comp Insurer Antum Risk to Study Hospital Violence in South Carolina

The South Carolina Hospital Association plans to use data to address the growing issue of workplace violence, an effort that could ultimately affect workers’ compensation claim frequency and severity. The association announced it has hired South Carolina-based Antum Risk, a …

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People Moves: Arch Ins. Int’l Names Lockton’s Stallard as Cargo U/W; Beazley Hires van Ommeren as Financial Lines U/W; Aon Reinsurance Taps Sompo’s Shedden for Analytics

This edition of International People Moves details appointments at Arch Insurance International, Beazley, and Aon Reinsurance Solutions. A summary of these new hires follows here. Arch Insurance Int’l Names Lockton’s Stallard as Cargo U/W Arch Insurance International announced the appointment …

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Indonesia’s Deadly Soccer Stampede Blamed on Locked Doors, Steep Stairs

Locked stadium doors were a key reason why an Indonesian soccer riot turned so deadly, President Joko Widodo said on Wednesday, ordering an urgent review of safety in stadiums and suggesting that the sport’s governing body FIFA could help fix …

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Gallagher’s Pen Underwriting Agrees to New Capacity Deal With Aviva

Pen Underwriting, the London-based managing general agent and Arthur J. Gallagher subsidiary, announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100 million …

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CFC Launches Innovation Hub in London

CFC, the specialist managing general agent, announced the launch of a dedicated Innovation Hub. Located in new premises on Whittington Avenue in the City of London, CFC’s Innovation Hub will act as CFC’s research and development center supporting over 100 …

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Howden’s Aston Lark Ireland Acquires Pembroke Insurances

Aston Lark Ireland, a Howden company, announced the acquisition of Pembroke Insurances Ltd. Set up by Graham Weir and John McGuire, Pembroke Insurances has been providing commercial insurance solutions since 2007 and has grown to be a trusted name within …

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Real-Time Tech: Supply Chain Analysis Tools

Transparency is the key to managing supply chain risk. But some businesses only focus on selective financial information from their suppliers, which can leave them exposed. Beyond creditworthiness, there are many additional threats to consider—such as second-, third- and fourth-tier …

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Hub Acquires Assets of Guide Insurance Services in Washington

Hub International Limited acquired the assets of Guide Insurance Services Inc. in Washington Guide Insurance Services has offices in Lynden, Colville and Republic, and provides commercial and personal insurance solutions to individuals and businesses in the region. Owners Joel Kok …

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Keystone to Add Bainswest Agencies in Oklahoma, Missouri

Keystone welcomed a group of Bainswest agencies from Oklahoma and Missouri to its network of growing agencies across the nation, effective January 1, 2023. Bainswest formed in Tulsa, OK in 1994. Bainswest ranks No. 18 in Insurance Journal’s Top 20 …

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Ariel Re Obtains Approval to Launch Managing Agent at Lloyd’s

Ariel Re, a global reinsurance business with offices in Bermuda, London and Hong Kong, has obtained approval to launch a managing agent at Lloyd’s of London. The new managing agency, Ariel Re Managing Agency (ARMA), will assume the management of …

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Frustration and Desperation Mount as Ian’s Effects Linger

Days after the skies cleared and the winds died down in Florida, Hurricane Ian’s effects persisted Monday, as people faced another week without power and others were being rescued from homes inundated with lingering floodwaters. Ten additional deaths were blamed …

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California School District Says Hackers Accessed Massive Database

The Los Angeles public school system, the second-largest in the US, said an extortionist group had accessed a massive database but had not leaked as much sensitive information from it as initially feared. Student and staff data of the Los …

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School Executives Arrested in California Workers’ Comp Fraud Scheme

An investigation by the California Department of Insurance resulted in the arrest last week of Rene Carlos Aguero, 71, and Gustavo Adolfo Lopez, 56, for allegedly submitting fraudulent vocational training vouchers for workers’ compensation claims and failing to provide the …

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California Labor Commissioner Recovers $282K for Car Wash Wage Citations

The California Labor Commissioner’s Office recovered more than $282,000 for wage theft violations affecting 22 car wash workers in Long Beach, who were not paid for the time they were on premises. The workers were reportedly not paid overtime or …

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Tool to Measure Workplace Mental Health Backed by 40 Corporate Partners (Including AXA, Aon)

A coalition of corporate, academic and nonprofit partners including Bank of America Corp. and insurer AXA SA has developed a tool that employers can use to measure and improve the mental health of their workers. The assessment, known as the …

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Mississippi to Get $221M to Address Flood Risks

The U.S. Army Corps of Engineers said on Monday it will spend almost $800 million to address flood mitigation, coastal storm damage protection and address supply chain resilience. About $221 million will address flooding for the Pearl River in Jackson, …

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Police Investigate Dallas House Fire After 3 Bodies Found

Police in suburban Dallas are investigating after three adult family members were found dead in house fire, one with a gunshot wound to the head and two with signs of trauma. Carrollton police said firefighters who responded to the Saturday …

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Pay-As-You-Go Cargo MGA Closing Insurance Protection Gap for Shippers

After many years working as a freight and logistics broker in the London market, Johnny McCord understood where the freight industry’s “pain points” were and thought technology and artificial intelligence (AI) could solve some of the underinsurance problems facing SMBs. …

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Florida Cities Crushed by Ian Face Highest Borrowing Costs in Decade

Florida cities looking to rebuild from the devastation of Hurricane Ian will be financing their efforts during the worst environment for municipal borrowing in more than a decade. Washed-out roads and bridges are only the most glaring examples of urgent …

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Virginia Police Deny Excessive Force Claim by Son of Man Who Died After Traffic Stop

FRONT ROYAL, Va. (AP) –The son of a 77-year-old man who died after sustaining injuries during a traffic stop in Virginia earlier this year has filed a $6 million lawsuit that alleges the deputies involved in his father’s arrest used …

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Scottish American Acquires Hawkeye Wholesale in Washington

Scottish American acquired Hawkeye Wholesale Insurance Services Inc. in Liberty Lake, Washington. Hawkeye was founded in 2012. It has capabilities of underwriting in California, Idaho, Oregon, Texas and Washington. Scottish American was founded in 2009 and grew out of an …

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Generali Weighs Deal With U.S. Asset Manager Guggenheim Partners

Assicurazioni Generali SpA is exploring a deal with US investment firm Guggenheim Partners to bolster its asset management business, according to people familiar with the matter. Italy’s biggest insurer has held informal talks on options ranging from a full acquisition …

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Peloton, Lululemon Settle Lawsuit Over Women’s Apparel Line

Peloton Interactive Inc. has reached a settlement of a lawsuit in which Lululemon Athletica Inc. accused the exercise bike maker of infringing its patents by developing a line of apparel for women. Without admitting wrongdoing, Peloton has agreed to phase …

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Judge Dismisses Mexico Lawsuit Against Gun Manufacturers

A U.S. federal judge on Friday dismissed a lawsuit brought by the Mexican government against U.S. gun manufacturers arguing their commercial practices has led to bloodshed in Mexico. Judge F. Dennis Saylor in Boston ruled Mexico’s claims did not overcome …

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Confie Acquires CoWest Insurance Group in Colorado

Confie acquired Colorado-based CoWest Insurance Group and the firm’s 30 insurance agency network. The acquisition underscores Confie’s plans to create an insurance agency network for independent agents within their national brand, InsureOne. CoWest will continue to operate under its current …

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Ian Storm Surge Devastated Part of Florida, But Many Without Flood Coverage

FORT MYERS, Fla. – Dave Lusk, who lives on San Carlos Island, sandwiched between Fort Myers and devastated Fort Myers Beach, Florida, told the story of how his daugther and her family decided to ride out Hurricane Ian in their …

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Takeaways from Our Conversation on Cannabis Risk Management

Some organizations view risk management as merely slowing down and planning before proceeding, while others make it a key organizational building block. Risk management in the cannabis industry is still new, and underdeveloped, according to one expert on the topic. …

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Jurors to Decide Damages Amount in Sandy Hook Defamation Suit

After watching days of testimony that included the parents of slain children breaking down on the witness stand, a Connecticut jury soon will have the difficult task of coming up with a dollar amount that conspiracy theorist Alex Jones should …

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Jury Says Funeral Home Must Pay $5.5M for Not Refrigerating Bodies

A funeral home operator accused of leaving bodies unattended without refrigeration must pay $5.5 million to the daughter of a man whose body lay decomposing for up to two weeks. The jury’s award on Friday marked the conclusion of the …

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KCC Estimates Near $63B in Hurricane Ian Insured Losses

Catastrophe modeler Karen Clark & Company (KCC) late Friday said the firm estimates insured losses from Hurricane Ian will near $63 billion. Should KCC’s calculations hold true, Ian will surely be remembered as one of the costliest hurricanes in U.S. …

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