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Showing posts from November, 2020

Liquidation Requested for Texas Nonstandard Auto Insurer, ACCC

An application for an order of liquidation has been filed in a Travis County, Texas, district court for a Houston-based nonstandard auto insurer now in receivership. With the agreement of its board of directors, ACCC Insurance Co. was placed into … from News – Insurance Journal https://ift.tt/36kS45U

Broker Exchange: Hard market issues exacerbated by "rowing back"of local decision making

Local decision making is being eroded as a result of the hard market, viewers of the first panel session of Broker Exchange heard. from Insurer - insuranceage.co.uk https://ift.tt/37l7qGS

Montana Nursing Home Lawsuit Adding More Claims

A lawsuit against a long-term care facility in Whitefish, Mont., has been amended to add claims that it was part of a multi-state network of facilities that enriched corporate owners while residents received negligent care. The lawsuit was initially filed … from News – Insurance Journal https://ift.tt/37jnBUZ

New Mexico Cracking Down on Drunken Drivers

New Mexico authorities will be cracking down on drunken drivers throughout the month of December. State police issued the warning this week, saying sobriety checkpoints will be set up around the state. Officers also will be asking for driver’s licenses, … from News – Insurance Journal https://ift.tt/2Vlfgux

Minor Earthquake Reported in Massachusetts

A minor earthquake was registered Sunday in Massachusetts in roughly the same area where a more significant one struck earlier this month, the U.S. Geological Survey said. The agency’s National Earthquake Information Center reported a magnitude 2.0 earthquake about five … from News – Insurance Journal https://ift.tt/3qduKyJ

Maryland’s Westminster American Insurance Company Hires Whelan

Westminster American Insurance Company (WAIC) has hired David Whelan as vice president of underwriting. In this new role, Whelan brings 31 years of commercial lines experience to the team. He joins WAIC from GNY Insurance Companies, where he was a … from News – Insurance Journal https://ift.tt/33wF1MP

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

American Family Insurance has chosen home renovation duo Drew and Jonathan Scott, the twin stars of HGTV’s “Property Brothers,” as the company’s newest brand ambassadors. The Scott brothers and American Family “share a passion for the places we call home. … from News – Insurance Journal https://ift.tt/36nxlyl

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

Arthur J. Gallagher & Co. has acquired Wayne, Penn.-based JP Warner Associates Inc., doing business as Warner Benefits. Terms of the transaction were not disclosed. Founded in 1997, JP Warner Associates is a traditional employee benefits consultant with offices in … from News – Insurance Journal https://ift.tt/3fQ4mWS

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

Jury duty notices have set Nicholas Philbrook’s home on edge with worries about him contracting the coronavirus and passing it on to his father-in-law, a cancer survivor with diabetes in his mid-70s who is at higher risk of developing serious … from News – Insurance Journal https://ift.tt/33ume4Q

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

For independent filmmakers, the Covid-19 pandemic has added a new hurdle to the already challenging task of lining up financing: finding insurance to cover virus-related interruptions. Lenders are demanding it, and it’s tough to get. So tough, in fact, that … from News – Insurance Journal https://ift.tt/3lvid6x

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

Aviva Plc Chief Executive Officer Amanda Blanc confirmed the company was in talks to sell units in France, Poland and Italy as part of her overhaul of the insurance giant. The company is still in the “early stages for considering … from News – Insurance Journal https://ift.tt/3lmJcRp

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

The U.S. National Highway Traffic Safety Administration (NHTSA) on Friday said it had opened a formal investigation into around 115,0000 Tesla vehicles over a front suspension safety issue. The auto safety regulator said it was opening a preliminary evaluation into … from News – Insurance Journal https://ift.tt/37iAj6s

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

We are all familiar with the challenges of 2020, but we may still be underestimating how deep and wide they go. Seven in 10 employees say this has been the most stressful year of their working lives, according to a … from News – Insurance Journal https://ift.tt/3fNEawj

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

The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to regulatory officials familiar with the matter. Ant … from News – Insurance Journal https://ift.tt/2Jov9xV

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

Lloyd’s, the world’s leading insurance and reinsurance market, has received final approval from the High Court of England and Wales to transfer policies in the European Economic Area to Lloyd’s Insurance Co. SA (Lloyd’s Europe), with its registered office in … from News – Insurance Journal https://ift.tt/33tRz7U

HDI Global Specialty Renews Agreement with German MGA AMANIKI

HDI Global Specialty SE has announced the renewal of its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. The agreement also sees AMANIKI move from a co-insurance panel of capacity providers to a 100% exclusive binder with HDI … from News – Insurance Journal https://ift.tt/2HUt4ZS

HDI Global Specialty Renews Agreement with German MGA AMANIKI

HDI Global Specialty SE has announced the renewal of its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. The agreement also sees AMANIKI move from a co-insurance panel of capacity providers to a 100% exclusive binder with HDI … from News – Insurance Journal https://ift.tt/2HUt4ZS

Broker Exchange: How has Covid-19 impacted the UK economy?

Economic expert Paul Johnson tells delegates about the UK's current economic situation and discusses what we can expect from the next few years. from Insurer - insuranceage.co.uk https://ift.tt/2HQyuF8

CII says government can’t offer “zero failure” insurance regime

Body says higher taxation should provide a safety net to enable the country to avoid suffering. from Insurer - insuranceage.co.uk https://ift.tt/2VjJvlm

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

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced it has bound its first risk with THB, the International broking arm of global specialty wholesale broker, AmWINS Group Inc. The risk was bound by Ki on its Lloyd’s … from News – Insurance Journal https://ift.tt/3mmZew2

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

AXA SA sold its Persian Gulf business for $269 million to a Kuwait-based group, as the French insurance giant shifts its focus and exits some overseas investments to shore up its finances amid the coronavirus pandemic. The Paris-based insurer said … from News – Insurance Journal https://ift.tt/2ViBFIU

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

Vienna Insurance Group AG bolstered its position as the biggest insurer in central and eastern Europe by agreeing to buy Aegon NV’s business in the region and in Turkey for 830 million euros ($990 million), outbidding NN Group NV and … from News – Insurance Journal https://ift.tt/3fP2ZaX

Europeans Buy Older Cars to Avoid Public Transport During Pandemic

LONDON/MADRID – Want a cheap used car to nip around town without running the gauntlet of coronavirus on public transport? Welcome to Pandemic Motors, we have just what you need. Across Europe, people are snapping up old bangers, clunkers, Klapperkasten, … from News – Insurance Journal https://ift.tt/33oET1Z

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

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since Covid-19 sparked government-ordered shutdowns in March, judges have dismissed more … from News – Insurance Journal https://ift.tt/3lku9b3

Analysis: Is the Intact takeover of RSA UK good or bad news for brokers?

Mark Richardson examines Intact's track record when it comes to integrating acquisitions and its approach to working with brokers. from Insurer - insuranceage.co.uk https://ift.tt/39ku6tn

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

As many as one in 12 cases of Covid-19 in the early stage of the pandemic in the U.S. can be tied to outbreaks at meatpacking plants and subsequent spread in surrounding communities, according to a study. The findings highlight … from News – Insurance Journal https://ift.tt/3leMOF0

Aviva grows UKGI commercial lines premium by 10%

Overall premiums remain flat after the provider continues to shrink its personal lines business, as Aviva also revises its expected impact from Covid-19 related claims to around £100m. from Insurer - insuranceage.co.uk https://ift.tt/3nW0AhG

People Moves: 23 - 27 November 2020

Keep up-to-date with the latest market moves. from Insurer - insuranceage.co.uk https://ift.tt/2JfdTLa

Aston Lark launches joint MGA venture

The broker has teamed up with Spring Partners as the platform buys Neon Sapphire Underwriting. from Insurer - insuranceage.co.uk https://ift.tt/366zkah

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

Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and chief executive of the French reinsurer SCOR, said on Wednesday. SCOR, one of the world’s largest reinsurers, has … from News – Insurance Journal https://ift.tt/3fFACw4

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

The Shelter Insurance board of directors announced that Randa Rawlins would become Shelter Mutual Insurance Co.’s next president and CEO. At a meeting on Nov. 19, 2020, the board elected Rawlins to become president, effective Jan. 1, 2021, in anticipation … from News – Insurance Journal https://ift.tt/3q3JrEO

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

The University of Pennsylvania has announced that it will contribute $100 million to the School District of Philadelphia over the next decade to deal with environmental hazards such as asbestos and lead in school buildings. Officials said the contribution of … from News – Insurance Journal https://ift.tt/2IXO2Yr

Pennsylvania House Votes to Impose Fees on Electric Cars

Motorists who register an electric vehicle in Pennsylvania would have to pay an annual fee, under lame-duck session legislation approved by the state’s Republican-controlled House of Representatives on Thursday. The bill, backed by a 132-70 vote, goes to the Senate … from News – Insurance Journal https://ift.tt/365Xr94

Best Agency to Work for East: Stanton Insurance Group

While Stanton Insurance Group (SIG) is in the business of providing insurance for cars, homes and businesses, President David W. Stanton says the agency is also about much more than that. “As a local business, we have a responsibility to … from News – Insurance Journal https://ift.tt/39kKdax

Go Compare owner sold for almost £600m

GoCo has been bought four years after its Esure de-merger. from Insurer - insuranceage.co.uk https://ift.tt/3fzOc3Z

Join us for Broker Exchange next week

Our essential week-long event has been created for brokers to dip in-and-out of and features a TV-style show, top speakers, panel discussions and opportunities for networking. from Insurer - insuranceage.co.uk https://ift.tt/3fwX0Yl

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

Hippo Enterprises, an MGA insurtech focused on homeowners insurance, secured a $350 million capital investment designed to help fuel further growth. A related reinsurance agreement is also part of the deal. Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD … from News – Insurance Journal https://ift.tt/3pYgolO

Best Agency to Work For Southeast: Darr Schackow Insurance

There were many reasons that employees of Florida-based Darr Schackow Insurance nominated their employer as a Best Agency to Work For this year, including its work in the communities it serves and how hard it works for its customers. But … from News – Insurance Journal https://ift.tt/363fBbx

Debris Leaks Out from Cargo Ship on Georgia Coast During Removal

Debris is washing up from a cargo ship stranded on the Georgia coast as a salvage team cuts it into chunks. The leaks are not unexpected as salvagers demolish the Golden Ray, a South Korean ship that overturned in St. … from News – Insurance Journal https://ift.tt/3m6xBHn

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

A coal miner died Monday in a workplace accident in southern West Virginia, the governor’s office said. Taylor Meldin Halstead, 20, of Bob White, was killed in the accident at Panther Mining LLC’s American Eagle Mine in the Kanawha County … from News – Insurance Journal https://ift.tt/33gv2Lp

South Dakota Law Officers Sue to Overturn Pot Legalization Vote

Two South Dakota law enforcement officials want the courts to overturn a citizen-approved constitutional amendment legalizing marijuana in the state. The Argus Leader reports Pennington County Sheriff Kevin Thom and South Dakota Highway Patrol Superintendent Rick Miller filed a lawsuit … from News – Insurance Journal https://ift.tt/375Fd6T

Trucks Keep Striking Missouri Overpass, Again and Again

Despite the warning signs and flashing lights, trucks just can’t seem to stop hitting a Kansas City, Missouri, overpass. The Kansas City Star reports that the bridge on Independence Avenue is struck so often that it has its own satirical … from News – Insurance Journal https://ift.tt/3fEBlO4

Schumacher to Lead Midwest Underwriting, Sales at Frankenmuth Insurance

Frankenmuth Insurance in Frankenmuth, Michigan, has added Rich Schumacher as regional director for the Midwest Region. Schumacher brings 28 years of experience in the industry, most recently serving as associate vice president of sales for Harleysville/Nationwide Insurance where he worked … from News – Insurance Journal https://ift.tt/3fvejJn

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

Crest Insurance Group LLC of Scottsdale, Ariz., has added Taylor Bouve as a commercial broker. Bouve has more than six years of experience in insurance. He was previously an account executive at Sunbelt Insurance Holdings LLC, and was with Zenefits … from News – Insurance Journal https://ift.tt/398GUTE

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

Woodruff Sawyer in San Francisco, Calif., has named Judith Pearson to launch The Family Office & Trustee Liability Resource Group. Pearson educates individual and institutional trustees and other fiduciaries to identify and reduce risk as well as provide solutions to … from News – Insurance Journal https://ift.tt/3kXSweo

Best Agency to Work For: Upshaw Insurance Agency

One of the things the employees of Upshaw Insurance in Amarillo, Texas, say they like best about their agency is its caring spirit — not only in regard to the employees themselves but to the communities they serve. Founded in … from News – Insurance Journal https://ift.tt/2UXEdvE

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

Cute plastic animals with tiny accessories that pose a choking hazard, Black Panther-inspired claws with the potential to cause facial or eye injuries, and green slime that could be harmful if swallowed: These are just some of the items on … from News – Insurance Journal https://ift.tt/3l7RZGO

Best Agency to Work For West: The Buckner Co.

Words like “fair,” “ethical, and “accommodating,” may not top a list of words you’d think would energize workers, but there was no shortage of enthusiasm found in comments from employees who heaped praise on The Bucker Co. in Salt Lake … from News – Insurance Journal https://ift.tt/39fqlp4

Travel Insurance Surges Along with Coronavirus This Thanksgiving

U.S. websites have seen a surge in travelers seeking expensive ironclad insurance this Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to cover themselves against coronavirus-related risks. Data from insurance comparison website Squaremouth … from News – Insurance Journal https://ift.tt/3pXYTSL

Best Agency to Work For Midwest: Korotkin Insurance Group

Korotkin Insurance Group (KIG) in Southfield, Michigan, may be more than 100 years old, but it’s definitely not stagnating and that’s a definite plus, according to those who work there. With 55 employees and annual revenues in the $1 million … from News – Insurance Journal https://ift.tt/360BA2K

Lawsuit: Nebraska Meatpacking Plant Did Not Protect Workers from Virus

A Nebraska meatpacking plant has been accused in a lawsuit of failing to take adequate precautions to protect workers from the coronavirus. The American Civil Liberties Union filed the federal lawsuit on Nov. 23 against Noah’s Ark Processors in Hastings, … from News – Insurance Journal https://ift.tt/3q2rPcq

Usage-Based Insurer Metromile to Become Public Company

Metromile Inc., the pay-per-mile auto insurer, has reached a deal to go public by merging with Insu Acquisition Corp. II (Insu II), a special purpose acquisition company (SPAC). The merger will result in Metromile becoming a publicly listed company without … from News – Insurance Journal https://ift.tt/3l0Q9HG

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

While Minnesota insurance regulators saw an uptick in the number of fraud case referrals during 2019, agent and broker fraud referrals were down significantly that year, the most recent for which insurance fraud statistics for the state are available. In … from News – Insurance Journal https://ift.tt/3fuLjBj

Finnis Named a Central Region VP at Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance (BHSI) has named Lauren Finnis vice president, Customer & Broker Engagement, for the Central Region, based in Chicago. She was previously vice president of Customer & Broker Engagement for the Eastern Region. Finnis has more than … from News – Insurance Journal https://ift.tt/2Jc6H2s

Zywave Acquires Insurance Technologies Corporation (ITC)

Insurance technology provider Zywave announced the acquisition of Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and services to the insurance industry. Zywave said the acquisition enables it to deliver operations, sales and marketing solutions … from News – Insurance Journal https://ift.tt/3l2fn8K

Colorado Outfitter Sues Former Guide, Claims ‘Trade Secrets’

Stephen Bass approached Andy Sovick last year with a plan for writing a guide to snowmobile-access skiing around one of the most popular backcountry destinations in Colorado: Buffalo Pass near Steamboat Springs. Bass, a ski patroller at Utah’s Powder Mountain … from News – Insurance Journal https://ift.tt/3pYThHW

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

Carnival Corp.’s Princess Cruise Lines Ltd. failed to persuade a judge to dismiss negligence claims by 17 passengers who allege they suffered COVID-19 symptoms after being exposed to the coronavirus on a February voyage. Monday’s ruling doesn’t address the merits … from News – Insurance Journal https://ift.tt/338TWN2

COVID Passports Could Speed Up Revival of International Travel

Global airline lobby IATA is working on a mobile app that will help travelers demonstrate their coronavirus-free status, joining a push to introduce so-called COVID passports to speed up the revival of international travel. The Travel Pass will display test … from News – Insurance Journal https://ift.tt/2J4mm3C

Former Virginia Attorney Indicted on Multiple Fraud Charges

A federal grand jury has indicted a former Virginia attorney on charges that she defrauded elderly clients out of money which she used to buy real estate and make charitable donations, prosecutors said. Cherie Anne Washburn, 44, of Lynchburg, Virginia, … from News – Insurance Journal https://ift.tt/2UXptgo

COVID-19-Related Data Breach Affects Thousands in Delaware

Public health officials in Delaware on Sunday disclosed that the personal information of thousands of people who were tested for the coronavirus this summer was mistakenly shared with an unauthorized individual. The state’s Division of Public Health said the data … from News – Insurance Journal https://ift.tt/3pWlyih

Best Agency to Work For East: Deland, Gibson Insurance

At Deland, Gibson Insurance, being a lifelong learner isn’t just a hobby, it’s part of the agency’s core values held by all employees. And agency employees say access to resources and education, as well as a constant drive for improvement, … from News – Insurance Journal https://ift.tt/3frA50F

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

Swiss Re Corporate Solutions appoints Tina Baacke as global head Risk Engineering Services, effective Jan. 1, 2021. In this role, Baacke will be responsible for leading a global team of experts that provides ri sk knowledge, data insights, tools and … from News – Insurance Journal https://ift.tt/3l4zseu

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

Cigna Corp.’s chief executive officer and board used “black-ops style” tactics in a covert campaign to “blow up” a $48 billion merger with rival insurer Anthem Inc., Cigna investors claim in a lawsuit. A Massachusetts-based pension fund alleges that Cigna … from News – Insurance Journal https://ift.tt/2HuGxHw

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

Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80% holding in … from News – Insurance Journal https://ift.tt/2Hz47D8

Video: Payment Services

In another video with Close Brothers Premium Finance we learn more about its Payment Services proposition. from Insurer - insuranceage.co.uk https://ift.tt/39as7HT

Best Agency to Work For Southeast: Fisher Brown Bottrell Insurance

Opportunities for growth, a team-oriented culture and unwavering support during an unprecedented situation are just some of the reasons that employees of Fisher Brown Bottrell Insurance, Inc. nominated their employer as a Best Agency to Work For. The Insurance Journal … from News – Insurance Journal https://ift.tt/2KB0PQV

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

A federal appeals court on Thursday upheld a 2018 jury verdict that led to awarding monetary damages to neighbors of a North Carolina industrial hog operation for smells and noise they said made living nearby unbearable. But judges ruled the … from News – Insurance Journal https://ift.tt/3lZ171S

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

It’s clear that insurance touches many aspects of people’s lives. The holiday season alone can present all kinds of insurance risks. There’s pumpkin patch liability insurance to protect pick-your-own patches against any safety risks. Christmas tree lot insurance shields owners … from News – Insurance Journal https://ift.tt/2UX7CX6

States Prepare Second Antitrust Lawsuit Against Google for December

A bipartisan group of U.S. states plans to file an antitrust lawsuit against Google as early as next month, according to two people briefed on the matter, potentially beating a more widely anticipated lawsuit from a different group of states … from News – Insurance Journal https://ift.tt/39i4RaW

Best Agency to Work For Midwest: DSP Insurance Services

Always do what’s best for the customer. That’s one of the guiding principles at Schaumburg, Ill.-based DSP Insurance Services that employees cited over and over again in 2020 Insurance Journal’s Best Agencies to Work For survey as a reason why … from News – Insurance Journal https://ift.tt/35Z9wNd

Eberl in Colorado Names Morris Vice President of Sales

Lakewood, Colo.-based Eberl Claims Service has named Phillip Morris vice president of sales. Morris has more than 14 years of sales, marketing, claims-handling and insurance-industry experience. Previous workplaces include ThePowerMBA, Syndicate Claim Services Inc., the Hanover Insurance Group and Allstate … from News – Insurance Journal https://ift.tt/39nIQrF

Best Agency to Work For West: Liberty Company Insurance Brokers

The Liberty Company Insurance Brokers Inc. in Woodland Hills, Calif., offered the perfect Hollywood ending for founder Bill Johnson. Johnson started the brokerage fresh out of college in 1987, then took a break to get into the film industry with … from News – Insurance Journal https://ift.tt/39bGVGc

Best Agency to Work For South Central: INSURICA

With nearly six hundred employees and annual revenues of $115 million, Oklahoma City-based INSURICA may be a large agency with offices around the country but its employees still say that being at work is like being with family, albeit an … from News – Insurance Journal https://ift.tt/3nR6bG6

California Electrician Arraigned in $63K Workers’ Comp Scheme

Mark Redheffer, 48, of Fontana, Calif., was arraigned on felony counts of insurance fraud and attempted perjury after allegedly lying and concealing information in a workers’ compensation claim to receive more than $63,000 in temporary disability benefits from his employer, … from News – Insurance Journal https://ift.tt/35Z1ofJ

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

Hamilton Insurance Group Ltd. announced the launch of Ada Capital Management Ltd., a Bermuda-regulated insurance agent authorized to underwrite on behalf of Ada Re, a new Bermudian special purpose insurer. Ada Re has successfully secured capital commitments and, subject to … from News – Insurance Journal https://ift.tt/2UUk7T6

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

Kemper Corp. has agreed to pay $370 million in cash for specialty auto insurer American Access Casualty Company and its related captive insurance agency, Newins Insurance Agency Holdings. Driving the deal: Growth potential among Hispanic and other niche markets. Plans … from News – Insurance Journal https://ift.tt/2UPCngy

BMS Names Madell as Director in New Financial Lines Division

BMS Group, the independent specialist re/insurance broker, announced the appointment of Chris Madell as director in BMS’ new Financial Lines division, effective immediately. Madell will be based in London, reporting to Ian Gormley, managing director of the BMS Global Risks … from News – Insurance Journal https://ift.tt/35Wu1di

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

The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one. While … from News – Insurance Journal https://ift.tt/33afdpQ

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

A fire at the renowned Jacob’s Pillow dance center in Massachusetts destroyed a theater building, but no one was hurt. The fire at the Doris Duke Theatre was reported at about 7 a.m., Becket Fire Chief Paul Mikaniewicz told The … from News – Insurance Journal https://ift.tt/3kXN5fi

Connecticut Town Officials Charged in Probe of Hazardous Waste Dumping

Five former or current officials of Fairfield, Connecticut, are among several people who have been arrested in connection with the illegal dumping of hazardous materials next to the town’s public works garage and efforts to hide the extent of the … from News – Insurance Journal https://ift.tt/2J4LKqn

Huge Vestas Wind Turbine Collapses in Northern Sweden in Rare Accident

A 230-meter tall wind turbine built by Vestas Wind Systems A/S collapsed at a site in northern Sweden over the weekend. The cause of the accident is unknown and the company is assembling a team that will investigate at the … from News – Insurance Journal https://ift.tt/3fq2BPY

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

Johnson & Johnson has been ordered by a New York state judge to pay $120 million in damages to a Brooklyn woman and her husband, after she blamed her cancer on asbestos exposure from using the company’s baby powder. Justice … from News – Insurance Journal https://ift.tt/3pPmdSJ

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

Not all insurance agents are created equal. At least that’s what William A. Smith & Son Insurance states on its website, a claim that serves as a testament to the agency’s mission of serving clients and employees through strong communication … from News – Insurance Journal https://ift.tt/3nOP9sa

Praedicat Develops Insurance Tool for COVID-19 Liability

Praedicat, the Los Angeles-based liability emerging risk modeling firm, has developed an insurance tool for the casualty insurance market, which allows insurers to track exposures, establish reserves, and manage aggregations in the face of this generation’s largest emerging risk, the … from News – Insurance Journal https://ift.tt/2J0sla0

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

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced the onboarding of its first trading partners to its proprietary digital platform, providing access to its algorithmic underwriting in readiness for writing business from Jan 1. Ki said it … from News – Insurance Journal https://ift.tt/2UUx1jX

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

British finance minister Rishi Sunak has said there is genuine progress in Brexit talks with the European Union, but that it would be better to walk away from a bad trade deal than tie Britain’s hands in the future. Sunak, … from News – Insurance Journal https://ift.tt/2J0kF7i

Arch develops terrorism policy

The cover has been developed for the UK regional market. from Insurer - insuranceage.co.uk https://ift.tt/2UP2AM8

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

Inigo Ltd., a new London-based insurance group, announced it has completed a capital raise of approximately $800 million from a consortium of global investors comprising (among others) funds controlled by Caisse de dépôt et placement du Québec (CDPQ), Enstar, J.C. … from News – Insurance Journal https://ift.tt/3pUJIJS

5 Leaders Promoted at SECURA Insurance in Wisconsin

SECURA Insurance, based in Neenah, Wis., has promoted five company leaders: Amy DeHart, senior vice president and chief actuary; Dan Ferris, chief legal officer; Tripp Humston, regional vice president–Sales; Tim O’Brien, vice president–controller; and Brett Purcell, regional vice president–Sales. The … from News – Insurance Journal https://ift.tt/3flMWBq

Best Agency to Work For Midwest: The Starr Group

“I LOVE working for this business. I look forward to working each day!!!” It’s not every day that you hear an employee of any given business say that, but it’s exactly what one respondent to Insurance Journal’s 2020 Best Agencies … from News – Insurance Journal https://ift.tt/337GWY5

Best Agency to Work For Overall: RightSure Insurance Group

From standup comedy and acting gigs to selling insurance – not the typical career path for the everyday independent agency owner but that is how Jeff Arnold, founder of RightSure Insurance Group, this year’s winner of Insurance Journal’s Overall Best … from News – Insurance Journal https://ift.tt/3nOALQI

Best Agency to Work for West: Wood Guttman & Bogart

The phrase “truly cares” truly gets thrown around a lot, but it is being used so often by employees at Wood Gutmann & Bogart Insurance Brokers that it was impossible to write off as a mere cliché. “WGB truly cares … from News – Insurance Journal https://ift.tt/3kZ4aFM

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

The team at G&G Independent Insurance in Fayetteville, Ark., is young, ambitious, motivated, and passionate about providing innovative, exceptional service to their customers. And they love where they work. G&G Independent Insurance was selected as Insurance Journal’s Gold Best Agency … from News – Insurance Journal https://ift.tt/3fvEq2L

America’s Best Agencies to Work For

The votes are in for the 2020 Best Independent Insurance Agencies to Work For. While 2020 has been an unusual year for agency employees – many of whom have worked remotely for months – the pressures that have come with … from News – Insurance Journal https://ift.tt/397gKRh

The Liberty Company Insurance Brokers Adds Cuevas to Florida Office

The Liberty Company Insurance Brokers has added Mike Cuevas to the firm’s Ft. Lauderdale, Fla., office. Cuevas has more than 30 years of experience with previous stops at Coastal Premier and Van Ameringen’s Insurance. Cuevas has worked with clients in … from News – Insurance Journal https://ift.tt/2HwvY6Y

Zurich in Talks to Acquire MetLife Unit for $4 Billion

Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people familiar with the matter. Zurich Insurance issued a statement … from News – Insurance Journal https://ift.tt/3kVYH2L

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

A judge on Nov. 20 declined to halt a three-week ban on indoor dining in Michigan that is one of the most recent coronavirus restrictions imposed by Gov. Gretchen Whitmer’s administration. The state health department, meanwhile, reported a new daily … from News – Insurance Journal https://ift.tt/2KrK4HD

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

Insurance broker Aon plc announced that Karen O’Donnell has been appointed as a client director within its Private Finance Initiative (PFI) and Infrastructure team, a specialist practice that sits within Aon’s Construction division within the Global Broking Centre. O’Donnell will … from News – Insurance Journal https://ift.tt/333WHiK

Insurtech Blink Launches Non-Damage Business Interruption Parametric Solution

Irish insurtech Blink has launched a hurricane non-damage parametric insurance solution which provides liquidity to small and medium-sized businesses in the immediate aftermath of a natural disaster. Called “Blink Interruption,” the product aims to cut average business interruption claims processing … from News – Insurance Journal https://ift.tt/36QJrPD

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

Specialty insurer Hudson Insurance Group has agreed to acquire the Allegheny Group Inc. (AGI) and its subsidiaries from its private shareholders. Hudson, by acquiring Pennsylvania-based AGI, will own Allegheny Surety Co., a Pennsylvania insurance company, and Allegheny Surety Agency, the … from News – Insurance Journal https://ift.tt/3ffHqAj

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

JOHANNESBURG – Santam on Friday it will appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s claim related to the coronavirus lockdown. Like insurers around the world, Santam has been battling with … from News – Insurance Journal https://ift.tt/334vZX9

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

The European Union warned that the UK hasn’t moved sufficiently to overcome the three main obstacles to a post-Brexit trade deal as three of the bloc’s leaders called for contingency plans to be stepped up in case one isn’t reached. … from News – Insurance Journal https://ift.tt/3pJmO8h

Swiss Re Confirms Financial Targets Despite Pandemic

Reinsurance company Swiss Re said it was committed to a stable or increasing dividend as it confirmed its financial targets on Friday despite the coronavirus pandemic that has pressured the industry. The reinsurer has swung to a loss in the … from News – Insurance Journal https://ift.tt/2IPGN4e

No firm deadline for Supreme Court BI judgment

Judges pledge to work quickly but there is no certainty on when policyholders and insurers will get a decision on the business interruption appeal as hearing concludes. from Insurer - insuranceage.co.uk https://ift.tt/334aHJd

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

Britain’s lawmakers launched an inquiry on Friday aimed at ensuring its financial services remain globally competitive after the country’s full departure from the European Union next month. “We’ll make a series of recommendations for how the government, public bodies and … from News – Insurance Journal https://ift.tt/3lOUIpQ

Interview: Paul Trail

Insurance Age meets the Close Brothers Premium Finance CEO. from Insurer - insuranceage.co.uk https://ift.tt/3kUMnQk

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

West Virginia officials announced a $101.3 million settlement last month in an antitrust suit against 11 asphalt and paving companies the state accused of cornering the market and driving up project costs. “We’re ending sweetheart deals all across West Virginia,” … from News – Insurance Journal https://ift.tt/38UxkDM

3 Weeks Later, Alabama Awaits Federal Relief for Zeta Damage

More than three weeks after Hurricane Zeta barreled across the Southeast and left destruction in its wake, Alabama is still waiting on a federal disaster declaration and the emergency relief that comes with it, according to state and federal agencies. … from News – Insurance Journal https://ift.tt/38Uxif8

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

Bidding to slow surging coronavirus cases and deaths in Kentucky, Gov. Andy Beshear announced new restrictions Tuesday on in-person gatherings at restaurants, schools and event venues. “I don’t take this lightly – I know this will cause some more harm … from News – Insurance Journal https://ift.tt/36TdFBj

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

The Kentucky Associated General Contractors Self-Insurers’ Fund, a workers’ compensation insurance provider in the state of Kentucky, will return more than $18.5 million, including special fund tax reimbursement, in dividends to qualifying members in March of 2021. The board of … from News – Insurance Journal https://ift.tt/3lPyCDw

Crest Insurance in Arizona Promotes Baldwin to Senior Vice President

Crest Insurance Group LLC of Scottsdale, Ariz., has promoted Yvonne Baldwin to senior vice president of personal lines. Baldwin joined the firm in 1984 following her time with Mueller and Associates. Crest has offices in throughout Arizona as well as … from News – Insurance Journal https://ift.tt/35MUHx1

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

Allstate Corp. hired solely banks owned by minorities, women or veterans for its bond sale, in the biggest corporate deal yet managed only by diverse firms. The insurer enlisted Loop Capital Markets, Academy Securities, Samuel A. Ramirez & Co., Siebert … from News – Insurance Journal https://ift.tt/36QGvm6

Tyson Suspends Meat Plant Managers Accused of COVID Betting Pool

Tyson Foods Inc. said it has suspended managers at an Iowa meatpacking plant accused in lawsuits of betting on how many workers would be infected in a Covid outbreak earlier this year. More than 1,000 of the 2,800 employees at … from News – Insurance Journal https://ift.tt/3kJqljn

Flint, Michigan Water Lawsuit Settlement Rises to $641M

The proposed settlement of a lawsuit filed on behalf of residents of Flint, Michigan, who were harmed by lead-tainted water now totals about $641 million, officials revealed on Nov. 18. The lawsuit was the result of workers following state environmental … from News – Insurance Journal https://ift.tt/36PDrGI

Aon Targets M&A Market with Intellectual Property Assessment Offering

Insurance broker Aon has launched the Quality of Intellectual Property (QoIP) Solution that is designed to help companies receive higher transaction value by specifically articulating the quality of the seller’s IP portfolio in the M&A and capital markets. QoIP is … from News – Insurance Journal https://ift.tt/3nEyWFD

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

About 70 drivers and warehouse workers at a Fargo, N.D., food distributor have gone on strike because they don’t believe the company is doing enough to protect them from exposure to COVID-19. Members of Teamsters Local 120 walked a picket … from News – Insurance Journal https://ift.tt/2HisUuV

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

The parents of a Kansas City, Mo., man who died in a 2016 shooting have been awarded $4 million in a wrongful death lawsuit against a man who trafficked in firearms, as well as a gun dealer and manufacturer. Court … from News – Insurance Journal https://ift.tt/33hZEfR

Study: St. Louis Mask Mandates Cut Virus’ Spread

Mask mandates in St. Louis and St. Louis County slowed the spread of the coronavirus this summer when compared to neighboring counties that didn’t require face masks, a Saint Louis University study found. The study compared infections in St. Louis … from News – Insurance Journal https://ift.tt/2UIshhj

Louisiana Issues Hurricane Zeta Data Call

Louisiana is seeking information from property/casualty insurers in the state about the impact of Hurricane Zeta. This latest data call from the Louisiana Department of Insurance is the third hurricane-related data call this year. The department said insurers must submit … from News – Insurance Journal https://ift.tt/32Zwyl7

Insurance Executives Seek More Diversity in Executive Ranks

When Jerald Tillman and Mike James started their careers more than 20 years ago, working in the U.S. insurance industry was not on their radar, but programs to attract Blacks and other minorities brought them into the fold. Today, Tillman … from News – Insurance Journal https://ift.tt/3pM0FGf

Mobile Home Owner Files Lawsuit Stemming from Maine Blast

The owner of a mobile home park and other residences has filed a lawsuit against companies and a nonprofit group connected to the 2019 fatal propane explosion in Maine. The Farmington explosion killed fire Capt. Michael Bell and injured seven … from News – Insurance Journal https://ift.tt/35IP4Qo

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

Property/casualty specialty insurer RLI Corp. said current CEO Jonathan Michael is retiring at the end of 2021, and RLI Insurance President and Chief Operating Officer Craig Kliethermes will succeed him. Michael’s official retirement day is Dec. 31, 2021, which will … from News – Insurance Journal https://ift.tt/36TmTNU

Berkshire Hathaway Specialty Promotes Rootenberg, Scully to Claims Leadership

Berkshire Hathaway Specialty Insurance (BHSI) announced a pair of promotions in its Executive & Professional Lines Claims group, naming Shelby Rootenberg as senior vice president, head of U.S. Commercial Lines (Public) and Financial Institutions Claims, and Megan Scully as senior … from News – Insurance Journal https://ift.tt/2Kf8nbI

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

The U.S. communications regulator on Wednesday approved a plan to allow a growing number of wireless devices to use part of a spectrum previously set aside for automakers to develop methods for vehicles to communicate with each other, a decision … from News – Insurance Journal https://ift.tt/2UNxWm9
General Motors Co. on Wednesday launched an auto insurance program with the help of its OnStar subsidiary, joining a growing field of companies hoping to cash in on the vast amounts of data generated by increasingly automated and connected cars. … from News – Insurance Journal https://ift.tt/2ITunJ1

CMA fines ComparetheMarket £17.9m

The watchdog says the comparison website breached competition law by using clauses prohibiting home insurers to offer lower prices on other aggregator sites, resulting in higher premiums. from Insurer - insuranceage.co.uk https://ift.tt/3lN3DYG

Roberts Appointed as Global Renewable Energy Leader, Marsh JLT Specialty

Marsh, the insurance broker and risk adviser, announced the appointment of Hamish Roberts as global renewable energy leader, Marsh JLT Specialty. Effective 1 January, Roberts will continue to be based in London and will report to Andrew George, global head, … from News – Insurance Journal https://ift.tt/32YcgZ0

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

HSB Canada, part of Munich Re, has introduced “Sensor Systems by HSB,” a turnkey solution to help insureds reduce common property claims. The program monitors, predicts and alerts customers to risk events associated with water leaks, pipe freezing and critical … from News – Insurance Journal https://ift.tt/38WOkt9

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

AXA XL Insurance announced that Nicola Harris has been promoted to head of Energy, UK & Lloyd’s market. In her new role, Harris is responsible for developing the UK energy book, executing strategy and designing innovative insurance solutions for AXA … from News – Insurance Journal https://ift.tt/2IMiCUi

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

After a decade of buying up rivals to become Canada’s largest property and casualty insurer, Intact Financial Corp. is looking across the Atlantic with its biggest deal yet. Intact sealed an agreement Wednesday to buy the Canada, UK and international … from News – Insurance Journal https://ift.tt/35K3iAv

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

Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that … from News – Insurance Journal https://ift.tt/2Kqdl5P

Etier Appointed Assistant VP at Dwight Andrus Insurance

Dwight W. Andrus Insurance Inc. in Lafayette, La., has appointed Brandt Etier as assistant vice president of Property and Casualty Sales. Etier began his insurance career with Dwight Andrus Insurance in 2010, where he serves as a commercial lines sales … from News – Insurance Journal https://ift.tt/2UFEsvp

Homeowners of America Insurance Expands into Illinois

Homeowners of America Insurance Co. (HOAIC), an Irving, Texas-based property/casualty insurance provider, is now offering its insurance products in the state of Illinois. HOAIC President and CEO Spencer Tucker said the move marks HOAIC’s “first entry into the Midwestern market.” … from News – Insurance Journal https://ift.tt/2INhr7i

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

Today’s Lloyd’s of London market for casualty insurance is marked by rising prices, reduced capacity, and buyers embracing more self-insurance, according to underwriters at Lloyd’s. It is also marked by underwriters who still believe in the value of long-term relationships … from News – Insurance Journal https://ift.tt/32Y11Qo

The Liberty Company Insurance Brokers in California Adds Rodgers

The Liberty Company Insurance Brokers has named Amanda Rodgers a talent acquisition specialist. Rodgers will be working with Liberty offices nationwide to help fuel their growth strategies. Rodgers was previously with AppleOne Employment Services. The Liberty Company Insurance Brokers is … from News – Insurance Journal https://ift.tt/3fcRaew

Deadlines Set by Mississippi Supreme Court in State Medical Marijuana Battle

The Mississippi Supreme Court is setting deadlines for attorneys to file arguments in a mayor’s lawsuit that questions the legitimacy of the medical marijuana initiative that voters approved by a wide margin. Initiative 65 requires the state Health Department to … from News – Insurance Journal https://ift.tt/3nDZnvm

Intact, Resilience Insurance to Provide Cyber Risk Coverage, Services

Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (IFC) U.S. insurance company subsidiaries, has launched cyber insurance options that will be offered in partnership with program manager Resilience Insurance. Through the new partnership, standalone cyber coverages coupled with … from News – Insurance Journal https://ift.tt/3nzI3HK

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

T.H.E. Insurance Company (T.H.E.), an AXA XL insurance company and a McGowan Allied Specialty Insurance partner, has been upgraded to A+ (Superior)/XV by AM Best. This recent AM Best upgrade to A+ XV affirms the financial strength of AXA XL … from News – Insurance Journal https://ift.tt/3nII9wZ

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

U.S. Administrator Claims has promoted Michael Goff to senior director to lead all claim operations. In addition to this promotion, the company has also hired Greg Whalen to be director of General Liability and Property Claims. Formerly the director of … from News – Insurance Journal https://ift.tt/36NFNpE

Minnesota Insurance Agent Charged with Stealing $524K From Clients

A Minnesota insurance agent has been charged with client theft of approximately $524,000, the U.S. Justice Department says. On Nov. 18, U.S. Attorney Erica H. MacDonald reported that John David Paulson, 56, is under federal indictment, charged with two counts … from News – Insurance Journal https://ift.tt/2INAmPg

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

U.S. President-elect Joe Biden has an opportunity to start fresh with China, a move that would benefit both nations, Maurice “Hank” Greenberg, chairman of Starr Insurance Companies, told Reuters on Wednesday. “President-elect Biden is no stranger to that problem,” Greenberg … from News – Insurance Journal https://ift.tt/3ffanfO

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

Just hours before another shutdown, a restaurant trade group sued on Nov. 17 to try to stop a ban on indoor dining, attacking the latest restrictions from Gov. Gretchen Whitmer’s administration in response to a wave of coronavirus cases. The … from News – Insurance Journal https://ift.tt/3lNzmsT

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

Family members of a Black woman who was killed when a white police officer fired through a window of her mother’s Texas home have filed a wrongful death lawsuit against the officer and the city. The federal lawsuit was filed … from News – Insurance Journal https://ift.tt/2IFthRa

Norwegian Cruise Ship Operator SeaDream Cancels All Sailings After Virus Outbreak

Norwegian-owned cruise ship operator SeaDream Yacht Club has canceled all sailing for the remainder of 2020 after positive COVID-19 test results onboard one of its cruises, it said on Tuesday, dealing a fresh blow to the cruise industry. The decision … from News – Insurance Journal https://ift.tt/2UArCyz

Catlin’s Convex adds $1bn to coffers

The move means the insurer has raised $2.7bn in the past 18 months. from Insurer - insuranceage.co.uk https://ift.tt/3fcsAus

Blog: Change the front page

Biba’s Steve White considers the impact of recent headlines that don’t reflect the real truth about insurance. from Insurer - insuranceage.co.uk https://ift.tt/3kKJm4K

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

Insurance broker Aon plc has launched an Asia Pacific Capital Advisory unit within Reinsurance Solutions to deliver a holistic approach to capital optimization for re/insurers. The initiative follows Aon’s launch of similar Capital Advisory units in the UK and U.S., … from News – Insurance Journal https://ift.tt/32XfcW5

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

Recent research shows that more insurers are taking advantage of Cloud technology for data storage and managing business functions. According to a 2018 report from Novarica called Cloud Adoption in Insurance: Trends and Issues, more than 70% of insurers reported … from News – Insurance Journal https://ift.tt/3nDzAn5

Insurer QC accuses FCA of "hair splitting wordsmithery” as Supreme Court showdown continues

Insurers and the regulator set out their starkly differing views on the use of trends clauses on day two of the ongoing business interruption test case hearing at the Supreme Court. from Insurer - insuranceage.co.uk https://ift.tt/2UCSiyC

UK Insurer RSA Accepts $9.6 Billion Cash Takeover Offer

LONDON – British insurer RSA is backing a 7.2 billion pound ($9.55 billion) cash offer from Canada’s Intact Financial and Denmark’s Tryg in one of Europe’s biggest financial takeover bids this year. Insurers have become an attractive proposition since the … from News – Insurance Journal https://ift.tt/32XguAh

Hastings sale to Finnish/South African consortium completed

Takeover, which valued the business at £1.66bn, sees Hastings delist from the London Stock Exchange. from Insurer - insuranceage.co.uk https://ift.tt/3pyFVlv

RSA suitors agree cash offer

RSA board says it will recommend the £7.2bn deal to shareholders as Intact and Tryg take next step to buy and split the insurer. from Insurer - insuranceage.co.uk https://ift.tt/2HctBpH

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

A Cape Town court ordered Santam Ltd. to pay out business-interruption claims to two South African hospitality companies, potentially opening up the industry to cover losses suffered because of the coronavirus pandemic. The court agreed with the approach of the … from News – Insurance Journal https://ift.tt/3nDeIML

Atlanta-Based INSUREtrust Adds Waldrep as Account Manager

Atlanta-based INSUREtrust has added Patrick Waldrep as an account manager in Georgia. Before joining INSUREtrust, Patrick worked as a sales manager for State Farm where he was responsible for growing and servicing all aspects of the agent’s book, including gathering … from News – Insurance Journal https://ift.tt/35DIivo

West Virginia Boarding School Settles Abuse Lawsuit for $52M

A lawsuit alleging widespread abuse at a now-closed northern West Virginia boarding school has been settled for $52 million. The lawsuit was filed by 29 students of the former Miracle Meadows School in Salem in 2017. It was settled late … from News – Insurance Journal https://ift.tt/2IC3n0D

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

After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a majority stake in ownership to Hudson Structure Capital … from News – Insurance Journal https://ift.tt/36PpPeu

Insurers Are Using Counter-Intuitive Arguments to Escape COVID Liabilities, UK Regulator Tells Court

Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain’s markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which … from News – Insurance Journal https://ift.tt/2IH809b

Gray Surplus Lines Insurance to Launch Dec. 1 in Louisiana

Metairie, La.-based Gray Insurance Co. is expanding its excess casualty capabilities with the launch of Gray Surplus Lines Insurance Co. on Dec. 1, 2020. Domiciled in Louisiana and with an A.M. Best rating of A- (Excellent), Financial Size Category of … from News – Insurance Journal https://ift.tt/3fbKCwU

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

Despite education programs and state laws, phone-based driving distraction is still on the rise—and is likely responsible for far more accidents than widely reported, says a new study from Cambridge Mobile Telematics (CMT). CMT’s analysis of 54 million trips recorded … from News – Insurance Journal https://ift.tt/3nvKN99

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

Fairfax Financial Holdings and its subsidiary Allied World Assurance Co. have agreed to sell their majority interests in Florida-based high-net worth insurer Vault E&S Insurance Co. to private equity investor Cornell Capital and asset manager Hudson Structured Capital Management. Fairfax, … from News – Insurance Journal https://ift.tt/32ViCsb

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

Close to 90,000 sexual abuse claims have been filed against the Boy Scouts of America as the Monday deadline arrived for submitting claims in the organization’s bankruptcy case. The number far exceeds the initial projections of lawyers across the United … from News – Insurance Journal https://ift.tt/2UFWRYM

Crest Insurance in Arizona Names Wimmer Personal Lines Manager

Crest Insurance Group LLC of Scottsdale, Ariz., has added Sarah Wimmer as a personal lines manager. Wimmer will oversee employees within the personal lines department from all seven branches including Tucson, Scottsdale, Sierra Vista, Flagstaff, San Diego, Denver and Ft. … from News – Insurance Journal https://ift.tt/3lKD8mP

Oklahoma Places New Restrictions on Bars, Restaurants Amid Virus Surge

Oklahoma Gov. Kevin Stitt has announced new restrictions on bars and restaurants and plans to require mask wearing inside state buildings, the first state restrictions imposed since the economy reopened in May, as officials attempt to control the surging number … from News – Insurance Journal https://ift.tt/3kAmLYE

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

The city of Columbus, Ohio, plans to pay $1 million to the family of a woman killed by an undercover officer in August 2018, according to documents filed in Franklin County Probate Court. The payout would be the largest in … from News – Insurance Journal https://ift.tt/38QZxLJ

Tornado in Arkansas on Sunday Injured 4 People, Destroyed Homes

A tornado in northeast Arkansas on Nov. 15 left four people injured and destroyed buildings and mobile homes, authorities said. The severe weather Sunday was near Romance, an unincorporated community about 23 miles (37 kilometers) west of Searcy, the Arkansas … from News – Insurance Journal https://ift.tt/32PP3IA

Hine Elected President of Texas Surplus Lines Association

Amicia Hine, executive vice president with Worldwide Facilities LLC, MHI-MGA Division, in San Antonio, has been elected president of the Texas Surplus Lines Association Inc. Justin Kotrla, senior vice president, Property, at AmWINS Group in Dallas will serve as vice … from News – Insurance Journal https://ift.tt/2HgXQvK

Arch Insurance N. America Hires Former Guarantee CEO Ruschak as Exec VP, Surety

Arch Insurance North America announced that Stephen Ruschak has been hired as executive vice president, Surety. Ruschak most recently was chief executive officer of The Guarantee Company of North America. In this role, Ruschak will have responsibility for Arch’s Surety … from News – Insurance Journal https://ift.tt/32Qbvl2

Zywave Snatches Up Advisen in Move to Accelerate Global Growth

Insurance technology company Zywave snatched up Advisen, a global insurance data provider, in a deal expected to fuel more rapid international growth. The acquisition includes Web Connectivity Ltd. (WCL), a UK-Based Advisen subsidiary whose technology supports the electronic placement of … from News – Insurance Journal https://ift.tt/35EjzXV

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

Specialty insurer and reinsurer Convex Group Ltd. announced it has secured commitments for an additional $1.0 billion of equity capital, subject to the requisite regulatory approvals. Bermuda-based Convex launched in April 2019 with $1.7 billion of initial committed capital. This … from News – Insurance Journal https://ift.tt/3fbXent

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

Three Mid-Columbia farms are among those receiving the biggest fines in the state from the Washington state Department of Labor and Industries for serious violations of agriculture regulations to prevent the spread of the coronavirus. More than 20 farms have … from News – Insurance Journal https://ift.tt/3kN8wjv

Magnitude 5.5 Earthquake Confirmed in Remote Corner of Nevada

A magnitude 5.5 earthquake struck a remote corner of Nevada early Friday, shaking the desert and a nearby town, the U.S. Geological Survey confirmed. The quake struck at 1:13 a.m. and was centered about 21 miles southeast of Mina, a … from News – Insurance Journal https://ift.tt/38Ukfdw

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

Employers that embrace flexible working after the COVID-19 pandemic could boost applications from women for top jobs by as much as 20%, according to a study by Zurich Insurance. Between March 2019 and February this year, Zurich’s UK subsidiary gained … from News – Insurance Journal https://ift.tt/2K6EUkb

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

An apparent steam explosion in a maintenance building at a Veterans Affairs hospital in Connecticut killed two people Friday, and a third person is missing, officials said. “We received a report this morning that an explosion occurred at the West … from News – Insurance Journal https://ift.tt/36IEg4f

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

Kaufman Dolowich & Voluck LLP (KDV), a national law firm serving the business and insurance communities and headquartered in Woodbury, N.Y., has hired John Mancebo as a partner in its New York City office. Mancebo, who was previously chair of … from News – Insurance Journal https://ift.tt/3lJCN3O

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

TigerRisk Partners has appointed Bill O’Keefe as its head of Strategy. In this new role, O’Keefe will identify growth initiatives, advise the company’s leadership and consult with clients to drive results. O’Keefe comes to TigerRisk from McKinsey & Company, where … from News – Insurance Journal https://ift.tt/3ffeIj2

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

As the development, and possible mass production, of COVID-19 (C-19) vaccines gather speed, the transportation and logistics industry will need to turn its attention to how the product can be safely and efficiently distributed. Recent figures from the International Air … from News – Insurance Journal https://ift.tt/35DEydd

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

Swiss Re announced the appointment of Agis Kitsikis as head of Client Markets P&C for Canada and English Caribbean, effective immediately. Kitsikis succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of Business Development for EMEA. In … from News – Insurance Journal https://ift.tt/2IzBsOT

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

The world’s 10 largest insurance markets are cumulatively expected to see their gross domestic product (GDP) decrease by 4.5% in 2020 compared to 2019 because of COVID-19, according to a new Insurance Information Institute (Triple-I) report. “All things being equal, … from News – Insurance Journal https://ift.tt/3ntXEsk

Most Powerful Atlantic Hurricane of 2020 Hits Central America

Hurricane Iota slammed into Central America late Monday with ferocious winds and rain, threatening to cripple a region already reeling from a deadly storm two weeks ago. Iota, the most powerful Atlantic hurricane in a record-setting season, is moving along … from News – Insurance Journal https://ift.tt/32Su7AL

Insurers launch their appeals as FCA BI Supreme Court battle begins

The Supreme Court heard arguments from lawyers representing QBE, Argenta and MS Amlin on 16 November as insurers began their appeal of the September judgment handed down in the FCA’s business interruption test case. from Insurer - insuranceage.co.uk https://ift.tt/36LSeCn

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

Some of Canada’s largest banks and insurers are set to participate in a pilot project to better understand the risks to the financial system from the transition to a low-carbon economy, Canada’s central bank and financial regulator said on Monday. … from News – Insurance Journal https://ift.tt/38QXebi

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

U.S. life insurers face questions about their ability to cover a sudden rush of claims after the Federal Reserve highlighted liquidity and leverage risks in a report this week. Issues the Fed focused on are not new: Life insurers have … from News – Insurance Journal https://ift.tt/36Xq47F

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

The U.S. National Highway Traffic Safety Administration (NHTSA) said on Monday it was expanding a probe into nearly 159,000 Tesla Model S and Model X vehicles, upgrading it to an engineering analysis, a step required before it can seek to … from News – Insurance Journal https://ift.tt/3lF9OOH

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

State Farm is sending sensors that can detect hazards in electric wiring to 40,000 homeowners in California, Arizona and Texas as part of a pilot project that will measure potential savings and customer acceptance. Mike Fields, a State Farm vice … from News – Insurance Journal https://ift.tt/3kB8fA0

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

MJ Hall & Co. has added Maaika Marsh as a lead broker. Marsh is based in Chandler, Ariz. She has more than 10 years of experience in insurance brokerage in Arizona and California. Marsh has been focused on new business … from News – Insurance Journal https://ift.tt/3pv76h3

Topa Insurance in California Names Pavone Vice President of Underwriting

Calabasas, Calif.-based Topa Insurance Group has promoted Susan Pavone to vice president of underwriting. Pavone will oversee the commercial underwriting of Topa Insurance Co. and be responsible for setting underwriting strategies, overall underwriting portfolio management, guidelines, and production. Pavone joined … from News – Insurance Journal https://ift.tt/3pAkIaB

Nurses in North Dakota Worry About Working with Sick Colleagues

Like many medical workers around the world, the coronavirus pandemic is a burden that Fargo emergency room nurse Adam Johnston can’t escape. The grim reality follows him everywhere: at work, where people die every shift; at the grocery store, where … from News – Insurance Journal https://ift.tt/3pzqfhR

Carter to Lead Tennessee Insurance Department

Tennessee Governor Bill Lee has selected Carter Lawrence to serve in his cabinet as commissioner of the Tennessee Department of Commerce & Insurance, effective immediately, according to a statement form the governor’s office. “Carter is a proven public servant who … from News – Insurance Journal https://ift.tt/2IHBR1C

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

Several changes came to Florida’s Citizens Property Insurance Corp. Board of Governors this month with two new appointments and the approval of one board member to serve as a representative for the Florida Insurance Guaranty Association (FIGA). Florida Chief Financial … from News – Insurance Journal https://ift.tt/3pCsssI

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

Major insurance companies told the UK Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses devastated by the coronavirus crisis. Opening a … from News – Insurance Journal https://ift.tt/32RAGDD

Hub Acquires Assets of The Vitolo Company in Washington

Hub International Limited has acquired the assets of The Vitolo Co. in Seattle, Wash. Terms of the deal were not disclosed. Mike Vitolo, founder and president of The Vitolo Co., as well as the Vitolo team, will be joining Hub … from News – Insurance Journal https://ift.tt/35yFO15

Massachusetts Septic Hauler to Pay Fine to Settle Illegal Dumping Lawsuit

A Massachusetts septic hauling company has agreed to pay up to $500,000 to settle allegations that it dumped waste into a local town’s sewer system to avoid paying disposal fees. State Attorney General Maura Healey said Friday that as part … from News – Insurance Journal https://ift.tt/3ntXph4

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

Independent insurance agents and their carrier partners face strong headwinds in their efforts to maintain their dominance among distribution channels due to increased competition and evolving consumer expectations, according to new research. According to the J.D. Power 2020 U.S. Independent … from News – Insurance Journal https://ift.tt/3fb8EIb

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

World Insurance Associates LLC (WIA) acquired Danaher-Skewes & Associates Inc. of Manassas, Va., on November 1, 2020. Terms of the transaction were not disclosed. Established in 1963, Danaher-Skewes is an independent insurance agency, serving residents and businesses in Alexandria, Va., … from News – Insurance Journal https://ift.tt/3psf3Dw

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

Alera Group, a Deerfield, Ill.-based insurance and financial services firm, has named Brian Parker as vice president of Employee Benefits Technology & Services, effective November 1, 2020. He will be based out of Philadelphia, Penn. In this role, Parker will … from News – Insurance Journal https://ift.tt/38MsbNW

Obsidian Specialty Insurance Company Receives A- Rating from AM Best

AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier serving managing general agents, managing general underwriters and program managers. … from News – Insurance Journal https://ift.tt/3f1rcdY

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

Iota became the thirteenth hurricane of the Atlantic season early Sunday, threatening to bring another dangerous system to Nicaragua and Honduras – countries recently clobbered by a Category 4 Hurricane Eta. Iota was already a record-breaking system, being the 30th … from News – Insurance Journal https://ift.tt/32OA9T2

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

After a standoff with global regulators, management turmoil and a massive safety review, Boeing Co. is set to win U.S. approval on Wednesday to resume flights of its grounded 737 MAX. But the largest U.S. airplane maker faces headwinds from … from News – Insurance Journal https://ift.tt/3f2m09u

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

Chaucer, the London-based specialty re/insurance group, announced the launch of a reinsurance branch in Bermuda to provide U.S. clients with greater access to its underwriting expertise and capacity. This follows the receipt of the necessary regulatory approvals from the Bermuda … from News – Insurance Journal https://ift.tt/2IHezsz

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

HSB is expanding its engineering services to deliver consultancy services that enable businesses to improve efficiency and meet their compliance obligations. Using the technical knowledge and expertise of its engineers, HSB’s new range of consultancy services will provide businesses with … from News – Insurance Journal https://ift.tt/3nwAeT0

Lloyd's to review the future of its underwriting room - report

The market says underwriting room is "here to stay" as the Daily Mail reports that a consultation next year could see the room scaled back. from Insurer - insuranceage.co.uk https://ift.tt/32KmlsA

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

Medical costs of German COVID-19 patients who have left hospitals are on average 50% higher than before they were admitted, data from a major insurer showed, a sign that even those who have recovered struggle to regain full health. The … from News – Insurance Journal https://ift.tt/3kBjIze

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

AXA SA was ordered to pay tens of millions of euros in back taxes last year after French fiscal authorities deemed a Luxembourg-based structure was improperly used to avoid tax payments in France, Mediapart reported on Sunday. French fiscal authorities … from News – Insurance Journal https://ift.tt/38HivV0

Flooding in North Carolina Prompts State of Emergency

Flooding from heavy rains across North Carolina prompted Gov. Roy Cooper to declare a state of emergency on Friday as searchers looked for a 1-year-old and an adult who disappeared when high water swept through a campground. In addition to … from News – Insurance Journal https://ift.tt/3kvXFu5

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

Lockton has added Casey Stine as a vice president and Business Development consultant for the firm’s Midwest Series. Stine, who has nearly a decade of experience in employee benefits and corporate human resource consulting, is located in the firm’s St. … from News – Insurance Journal https://ift.tt/2IEABMJ

World Insurance Associates Acquires Indiana’s Ball Insurance

Ball Insurance Services (Ball Insurance) of Northwest Indiana has been acquired by World Insurance Associates LLC. Ball Insurance, based in Merrillville, Ind., is a property/casualty-focused agency, specializing in auto and motorcycle insurance. The agency has been in business since 1962. … from News – Insurance Journal https://ift.tt/2UxH8el

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

General Motors Co. said on Friday it was recalling 68,677 electric cars worldwide that pose a fire risk after five reported fires and two minor injuries. The recall is for 2017-2019 model year Chevrolet Bolt EVs with high voltage batteries … from News – Insurance Journal https://ift.tt/36TSFe3

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

Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to the III executive behind the move. III CEO … from News – Insurance Journal https://ift.tt/3pwKJHP

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

McDonald’s Corp. will inspect all its U.S. restaurants to ensure compliance with safety standards as coronavirus cases surge again and “COVID fatigue” sets in, according to an internal note seen by Reuters on Friday. “It is apparent we are entering … from News – Insurance Journal https://ift.tt/3lAR6Yq

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

The Texas Department of Insurance (TDI) has approved the request by the Texas Automobile Insurance Plan Association (TAIPA) for a 4.8% increase in commercial auto rates, with an effective date of March 1, 2021. TAIPA members include all insurers authorized … from News – Insurance Journal https://ift.tt/3kz5dfz

Orchid Insurance, Homesite Launch Homeowners Insurer TRUE in Florida

Orchid Underwriters Agency, LLC (Orchid), a specialty underwriter of catastrophe-exposed property insurance, and Homesite Group, a national property insurer, have created TRUE, a reciprocal insurance company to protect homeowners in coastal states. TRUE (Trusted Resource Underwriters Exchange) is domiciled in … from News – Insurance Journal https://ift.tt/36BmG24

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

Hub International Limited (Hub), a global insurance brokerage, has acquired the insurance brokerage assets of Larry Dean Massey, Jr. (Massey). Terms of the transaction were not disclosed. With legacy operations in Memphis, Tenn., and now in Oxford, Miss., Massey offers … from News – Insurance Journal https://ift.tt/334Pkrt

Judge Throws Out Trump Campaign’s Libel Claim Against CNN

A U.S. judge on Thursday dismissed a libel lawsuit filed by President Donald Trump’s re-election campaign against CNN over a 2019 opinion piece which it said suggested the campaign would be open to Russian interference, according to a court document. … from News – Insurance Journal https://ift.tt/2IvrDAZ

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

As of Sept. 27, workers’ compensation insurance carriers in Texas had reported more than 25,000 COVID-19 claims and 103 fatalities to the state’s regulators. The numbers cover virus-related claims reported to insurers through June 30, 2020. A report released by … from News – Insurance Journal https://ift.tt/2IB6vtl

Brookfield Asset Management to Launch Reinsurer; Distribute Shares to Investors

Brookfield Asset Management Inc. is launching a reinsurance business and plans to distribute shares in the new entity to its investors in the form of a $500 million special dividend. Bruce Flatt, Brookfield’s chief executive officer, said in a letter … from News – Insurance Journal https://ift.tt/35sOdDm

California’s Wine Country Adapting to Annual Wildfire Threat

Harvest season in Northern California’s wine country is what dream weddings are made of: ripe grapevines and golden sunsets provide ceremonies an alluring backdrop that every year draws millions of visitors. But harvest season now overlaps with fire season as … from News – Insurance Journal https://ift.tt/2K9APfn

Cross Insurance Hires Moriarity as Chief Information Officer Based in Maine

Cross Insurance, a subsidiary of Cross Financial Corp. and an independent insurance provider in New England, has hired Timothy Moriarity as chief information officer (CIO). He will be based in Bangor, Maine. In this new role, Moriarity is responsible for … from News – Insurance Journal https://ift.tt/32YeJTF

World Insurance Associates Acquires New Jersey’s Fairways Insurance

World Insurance Associates LLC (WIA) has acquired Fairways Insurance Inc. of Cinnaminson, N.J., on November 1, 2020. Terms of the transaction were not disclosed. Fairways is a full-service insurance agency serving clients throughout New Jersey, Pennsylvania and Delaware. WIA is … from News – Insurance Journal https://ift.tt/2UqPDry

Apartment Builders Settle Claims of Illegal Asbestos Work in Massachusetts

The builders of an apartment complex have agreed to pay $335,000 to settle allegations that workers improperly handled asbestos-containing material during the redevelopment of a former manufacturing site in Lawrence, Massachusetts Attorney General Maura Healey said Tuesday. The agreements settle … from News – Insurance Journal https://ift.tt/3nlEHId

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

The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. “Acute hazards, … from News – Insurance Journal https://ift.tt/3luXRuT

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

Goldman Sachs has poached Barclays’ insurance banker Marguerite Bion to win more business from Europe’s biggest insurers as industry consolidation heats up amid anemic profitability and tightening regulation. Bion, who started her career at Citigroup in 2001 and spent the … from News – Insurance Journal https://ift.tt/3lu6ZzQ

Italy’s UnipolSai Stays on Profit Track Despite Coronavirus Resurgence

UnipolSai, Italy’s second-largest insurer, confirmed its full-year targets on Friday after a 37.7% rise in nine-month earnings, despite an uncertain economic outlook caused by the resurgence of the COVID-19 pandemic. The company said its consolidated net profit for the first … from News – Insurance Journal https://ift.tt/2UmTqpM

Ageas reports 94.6% COR

The provider said Q3 numbers were “healthy” and reflected lower claims frequency and strong prior year releases. from Insurer - insuranceage.co.uk https://ift.tt/35pNlPW

Intact secures billions in funding as RSA sale talks forge ahead

If a firm offer is made Intact will buy RSA's Canadian and UK & International operations. from Insurer - insuranceage.co.uk https://ift.tt/3lsMNyr

North Carolina Insurers Seek 24.5% Rate Hike for Homeowners

The North Carolina Rate Bureau has requested an average statewide rate increase of 24.5% on homeowners insurance rates in the state, according to a statement from the North Carolina Department of Insurance. The NCRB is not part of the NCDOI … from News – Insurance Journal https://ift.tt/3ltZhWi

Homeowners Insurer Openly Enters Ohio

Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media release. The company said its entrance to the state provides … from News – Insurance Journal https://ift.tt/32HRZqD

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

Distinguished Programs, a national insurance program manager, has added Mike Schleich as regional sales executive covering the North Central Territory. This region includes Indiana, Michigan, Ohio, and Kentucky, as well the city of Chicago. Schleich, who is based in Cleveland, … from News – Insurance Journal https://ift.tt/36rNuSa

Hurricanes Staying Stronger Longer After Landfall Than in Past

Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as … from News – Insurance Journal https://ift.tt/2K5yX7h

Chinese Grain Plant in Argentina Resumes Operations Following Fatal Accident

A grains crushing plant of Chinese farm giant COFCO International partially resumed operations on Thursday, after halting them on Tuesday after an incident in which three contractor workers died, a spokesman told Reuters. Argentina is the world’s leading exporter of … from News – Insurance Journal https://ift.tt/2UriLyQ

Professional Liability Underwriters Feeling Pressure From COVID: AM Best

The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report. With its Best’s Special Report, “Professional Liability … from News – Insurance Journal https://ift.tt/3pqSfUQ

Irish Brewer Guinness Recalls Non-Alcoholic Stouts As Safety Precaution

Irish brewer Guinness said Wednesday that it is recalling cans of its recently launched non-alcoholic stout in Britain over contamination concerns. The recall, which the brewer described as “precautionary” and related to a “microbiological contamination,” impacts the British market as … from News – Insurance Journal https://ift.tt/2Ulk2HJ

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

A U.S. appeals court on Thursday upheld Harvard University’s use of race in undergraduate admissions, rejecting a challenge by affirmative action opponents who said the Ivy League school’s policy discriminates against Asian-Americans. Opponents of the decision, by the 1st U.S. … from News – Insurance Journal https://ift.tt/36CL5Eu

EQ One Adds Earthquake Capacity, Expands Limits through Munich Re

EQ One, a West Coast earthquake insurance underwriter, has added additional capacity to its earthquake offering through Munich Re Specialty Insurance. This increased capacity will allow EQ One team to write larger earthquake risks. EQ One is a difference in … from News – Insurance Journal https://ift.tt/3kweDIt

GRS Appoints Keenan to Head Learning, Marketing Operations

Global Risk Solutions, Inc., a provider of claims adjusting and environmental risk management services based in Miami, has added Colm Keenan as executive vice president and chief of Learning & Marketing. Keenan will be based in Sarasota, Fla. and report … from News – Insurance Journal https://ift.tt/2K5tdub

Slice Labs, AXIS Insurance to Offer Home Based Business Coverage

Slice Labs Inc. and AXIS Insurance have partnered to distribute AXIS Home Based Business insurance, an on-demand digital commercial insurance product designed for home businesses not covered by traditional homeowners insurance policies. AXIS Insurance is the specialty insurance business segment … from News – Insurance Journal https://ift.tt/3nkcl0Z

Citrus Groves, Plant Nurseries Near New Orleans Pummeled by Zeta

Hurricane Zeta hit Louisiana’s citrus growers right at harvest time, and hit them hard. “We have some growers with up to 75% of their citrus laying on the ground,” LSU AgCenter horticulture agent Joe Willis said in a news release. … from News – Insurance Journal https://ift.tt/2K7uGAl

Bridge Linking Ohio, Kentucky Closed by Fiery Crash

A fiery crash on a bridge linking Ohio and Kentucky could force the span to remain closed for days as officials tried to determine the amount of damage to the bridge that serves as a crucial link for interstate commerce, … from News – Insurance Journal https://ift.tt/32EKz7G

Meat Company Suing New Mexico to Remain Open After Virus Cases

A U.S. meat company that supplies Walmart and Costco is suing New Mexico to fight a state order that seeks to close a production facility where more than 100 workers have tested positive for COVID-19. The lawsuit from Stampede Meat … from News – Insurance Journal https://ift.tt/3lrSr3x

Nonprofits The Institutes and Insurance Information Institute to Complete Affiliation Nov. 16

The insurance education and research nonprofit The Institutes said it will finalize its affiliation with its fellow nonprofit Insurance Information Institute (Triple-I) on November 16, 2020. According to the announcement, the Triple-I will retain its offices in New York City … from News – Insurance Journal https://ift.tt/3njJABK

Ex-Federal Worker Pleads Guilty to Disability Benefits Fraud

A former Federal Air Marshal employee pleaded guilty Tuesday to fraudulently collecting nearly a quarter of a million dollars in government disability benefits while owning and operating a martial arts business in Rhode Island, U.S. Attorney for Rhode Island Aaron … from News – Insurance Journal https://ift.tt/3lDphyR

Insurance Tech Firm Insurity Acquires Personal Lines Management Suite CodeObjects

Insurance systems and data analytics provider Insurity reported that it has completed the acquisition of California-based CodeObjects, which offers a management program for personal lines. The deal expands Hartford-based Insurity’s portfolio of products that is focused on commercial lines. The … from News – Insurance Journal https://ift.tt/3krs6Bk

Oakland Settling Final Lawsuit From Deadly Ghost Ship Fire

The Oakland City Council has agreed to pay $399,000 to settle the last lawsuit over a 2016 fire at an illegally converted warehouse dubbed the Ghost Ship that killed 36 people. The city doesn’t acknowledge any wrongdoing in the settlement … from News – Insurance Journal https://ift.tt/32AzPas

Small Tornado Confirmed in Oregon, Buildings Damaged

The National Weather Service confirmed a tornado touched down north of Portland in St. Helens, Ore. The weather service confirmed the tornado at about 2 p.m. Tuesday. It touched down around 12:20 p.m., KPTV reported. Damage to the roof of … from News – Insurance Journal https://ift.tt/32GptWy

LA Times Paying $3M to Settle Journalist Discrimination Suit

The Los Angeles Times and Tribune Publishing have agreed to pay $3 million to settle a lawsuit that said minority journalists and women were paid less than white reporters. Nearly 240 current and former reporters and editors will benefit from … from News – Insurance Journal https://ift.tt/35mHQBm

Reiss Appointed President of International Bond & Marine Brokerage

James Reiss has been appointed as president of International Bond & Marine Brokerage Ltd. (IB&M), a brokerage providing risk management solutions to the international trade industry. The brokerage was recently acquired by Intact Insurance Specialty Solutions, a brand of Intact … from News – Insurance Journal https://ift.tt/3knaExR

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

World Insurance Associates LLC (WIA) has acquired Brian S. O’Neill & Associates Inc., d/b/a Collier O’Neill & Associates., of Trenton, N.J., on November 1, 2020. Terms of the transaction were not disclosed. Collier O’Neill is a full-service insurance agency serving … from News – Insurance Journal https://ift.tt/3eSrHqt

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

Zurich Insurance Group saw increased commercial lines insurance sales and a modest impact from COVID-19 related claims for the first nine months of the year, according to its third quarter report. Growth was supported by higher premium rates, which continued … from News – Insurance Journal https://ift.tt/3f4bCOR

QBE North America Hires Berkshire Hathaway’s Fortin, Greeley for Financial Lines

QBE North America has appointed Dan Fortin as president and Todd Greeley as chief operating officer for Financial Lines. Both executives joined QBE NA from Berkshire Hathaway Specialty Insurance. With the hires, QBE NA said it aims to expand it … from News – Insurance Journal https://ift.tt/3lkBpo2

RSA launches FNOL commercial claims portal

Provider says new platform had been built in collaboration with brokers and designed to simplify the claim reporting process. from Insurer - insuranceage.co.uk https://ift.tt/32CWH9a

Arch unveils UK regional marine hull and machinery product

Offering was designed exclusively for fleets and single vessels operating throughout inland and coastal waters of the UK and Western Europe. from Insurer - insuranceage.co.uk https://ift.tt/3poWTCz

Generali develops PI for SMEs

The product is available to UK brokers and aimed at SMEs and the self-employed. from Insurer - insuranceage.co.uk https://ift.tt/3nhtf0l

Workers Who Lost Jobs Due to COVID May Need Help Getting Coverage This Fall

Michelina Moen lost her job and health insurance in April. Only weeks earlier she had begun to feel ill and not her usual energetic self — in what she describes as a textbook case of “really bad timing.” The Orlando, Florida, resident sought treatment in May. After a series of tests, doctors told Moen she had a rare kidney condition that would require months of treatment. “Losing the coverage ended up being worse than losing the job,” said Moen, 36, a dancer who had worked for both Walt Disney World and Universal Studios. “It was very stressful.” Moen rushed to find replacement coverage. With help from a social service agency, she enrolled in a plan through healthcare.gov, the federal Affordable Care Act insurance marketplace. Because she and her husband, Brett, were not working — he had been laid off by Disney, too — they qualified for federal subsidies, so the coverage cost her just $35 a month. Most of her medical expenses, which involve traveling frequently to Jacksonville for s...

Blog: What’s the point of insurtech?

How can broker leverage insurtech products to provide the best solutions for customers? Leakbot’s Craig Foster weighs in. from Insurer - insuranceage.co.uk https://ift.tt/3ninteR

HUB Acquires Assets Of Florida-Based Leading Edge Benefit Advisors & Affiliates

HUB International Limited (Hub), a leading global insurance brokerage, has acquired the assets of Leading Edge Benefit Advisors, LLC, Raimey, Corp., Leading Edge Human Resource Services, LLC, Leading Edge Companies, LLC, Leading Edge Financial Group, LLC, Leading Edge Retirement Plan … from News – Insurance Journal https://ift.tt/36qFAIN

Pandemic Risks to Last for Months, Warns Swiss Financial Market Supervisor

Financial risks related to the coronavirus pandemic will last for months if not years, Switzerland’s financial market supervisor FINMA said on Wednesday, pointing to particularly heightened risk of defaults on corporate loans. “Thanks to the cushion of liquidity and capital … from News – Insurance Journal https://ift.tt/2GTQfTF

U.S. Sanctions to Target Insurers In Fight Against Russia-to-Germany Nord Stream 2

The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost a year. House and Senate negotiators … from News – Insurance Journal https://ift.tt/3luBrtO

How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment

While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious. Had the outbreak struck … from News – Insurance Journal https://ift.tt/36w5tqq

Employers Facing Wave of Lawsuits by Parents Fired During Pandemic

Parents who’ve lost their jobs during the pandemic are driving a surge of litigation, alleging their employers discriminated against them for taking care of their kids when schools closed. Since March, working parents have filed at least 40 lawsuits accusing … from News – Insurance Journal https://ift.tt/2IyZIjq

UK Hopes New Task Force Reassures Business Leaders Over Brexit

Britain will attempt to reassure nervous business leaders that it appreciates the need for clarity on rules outside of the European Union by setting up a task force to discuss challenges 50 days before the transition period ends. The United … from News – Insurance Journal https://ift.tt/2IuLbpf

Coverys Managing Agency Placing Lloyd’s Syndicate 1991 Into Runoff

Coverys Managing Agency Ltd. announced that its DTW Syndicate 1991 at Lloyd’s of London will stop accepting new and renewal business starting December 31, 2020. “Every effort has been made to implement remediation measures on underperforming business over the past … from News – Insurance Journal https://ift.tt/2UlLYLU

Rate hardening expected to speed up insurance sector recovery from pandemic recession

Swiss Re chief economist says the insurance industry is more resilient than expected, while the global economic outlook remains fragile. from Insurer - insuranceage.co.uk https://ift.tt/36liljg

Aston Lark buys MS Amlin division

The broker has purchased specialist marine pleasure craft insurance provider, Haven Knox-Johnston, for an undisclosed sum. from Insurer - insuranceage.co.uk https://ift.tt/2IgwSF5

Syndicate 1991 to go into run-off

The Lloyd's syndicate will stop writing business on 31 December in another loss for the liability market. from Insurer - insuranceage.co.uk https://ift.tt/2IvZE3W

People Moves: 9 - 13 November

Keep up to date with the latest market moves. from Insurer - insuranceage.co.uk https://ift.tt/3eORTlS

Brokers hope "inevitable" RSA sale will inject new life into the "sleeping monolith"

Some brokers expect potential deal to re-energise RSA, while others criticise the provider's "poor performance" and predict an uncertain future for its UK operations. from Insurer - insuranceage.co.uk https://ift.tt/32zfzG3

Mason Named Chief Strategy Officer at Instec in Illinois

Naperville, Ill.-based insurance software provider, Instec, has promoted Kevin Mason chief strategy officer, a newly created position. He will be responsible for shaping and executing business and product strategies, ensuring the company continues to deliver increasingly greater value to its … from News – Insurance Journal https://ift.tt/35hJsg0

Iowa Insurance Agent Charged with Insurance Fraud

An Iowa insurance agent has been charged with one count each of Insurance Fraud (Class D Felony), Fraudulent Sales Practices – Over $10,000 (Class C Felony), Theft – 2nd degree (Class D Felony), Fraudulent Practices – 2nd Degree (Class D … from News – Insurance Journal https://ift.tt/3p9ZZKN

EU Still Seeking Clarity Over Britain’s Financial Services, Insurance Rules

The European Commission is still waiting for Britain to say if it will diverge from European Union rules before Brussels can decide on UK financial market access, a spokesman for the EU executive body said on Tuesday. Daniel Ferrie, the … from News – Insurance Journal https://ift.tt/3nbS6Tm

Task Force Nabs California Man for Insurance Fraud, Reporting False Vehicle Theft

Juan Camilo Vargas, 62, of Escondido, Calif., was arrested on multiple felony counts of insurance fraud and reporting a false vehicle theft after allegedly misrepresenting when and where his vehicle was stolen from in order to receive an undeserved insurance … from News – Insurance Journal https://ift.tt/3li865n

CWCI: California Workers’ Comp Virus Claim Count Tops 50,000

There have been 50,592 COVID-19 claims reported to the state Division of Workers’ Compensation (DWC) so far this year – including 282 death claims, according to latest tally by the California Workers’ Compensation Institute. That translates to one out of … from News – Insurance Journal https://ift.tt/38uNKCs

Three Quakes Confirmed in Alaska’s Largest City, No Damage Reports

Three earthquakes early Saturday morning struck Alaska’s largest city, The Alaska Earthquake Center confirmed. There were no immediate reports of damage. The strongest of the three, at magnitude 5.0, was recorded just before 3:30 a.m. The center says that was … from News – Insurance Journal https://ift.tt/2UcFfUl

Alaska Governor Makes New Emergency Virus Declaration

Alaska’s governor has announced a new COVID-19 disaster declaration for the state that will take effect Nov. 16 and last 30 days. Republican Gov. Mike Dunleavy announced the updated declaration on Friday, ahead of the scheduled expiration of the emergency … from News – Insurance Journal https://ift.tt/35f9Re3

Hamilton Promotes 3 at Lloyd’s Operations as Agency CEO Glover, CUO White Resign

Hamilton Insurance Group announced three promotions in the leadership team at its Lloyd’s operations following the resignations of Hamilton Managing Agency Limited CEO Tim Glover and Chief Underwriting Officer David White. The company gave no reason for the resignations of … from News – Insurance Journal https://ift.tt/3pg2ACU

One Dead, Two Firefighters Injured in New Jersey Blaze

Authorities say one person was killed and several dozen people displaced following a fire in New Jersey in which two firefighters were also injured. NorthJersey.com reports that fire crews called to a Paterson street at about 10 a.m. Sunday found … from News – Insurance Journal https://ift.tt/3eLOuEo

New York Sues Sotheby’s for Helping Client Escape Sales Taxes on Artwork

Sotheby’s was sued on Friday by New York’s attorney general, who accused the auction house of defrauding the state by helping an important client avoid millions of dollars of sales taxes on art he purchased. Attorney General Letitia James said … from News – Insurance Journal https://ift.tt/2UbWuVZ

COVID-19 Cases in Nursing Homes Rising in States Hit by Latest Virus Surge

Despite Trump administration efforts to erect a protective shield around nursing homes, coronavirus cases are surging within facilities in states hard hit by the latest onslaught of COVID-19. An analysis of federal data from 20 states for The Associated Press … from News – Insurance Journal https://ift.tt/3lgEoxK

Three Charged in Break-In at Science Museum of Virginia

Three men have been charged with felonies, and authorities are seeking a fourth man following an investigation of a break-in at the Science Museum of Virginia during a night of riots and looting, Virginia Capitol Police said. A news release … from News – Insurance Journal https://ift.tt/3natFp7

Tropical Storm Eta’s Rains Threaten Floods for South Florida, Cuba, Bahamas

Nov 10, 2020, 4:33 AM— After coming ashore in the Florida Keys overnight, Tropical Storm Eta is now hovering just north of the Yucatan Channel and is set to re-strengthen as it meanders over the south-eastern Gulf of Mexico on … from News – Insurance Journal https://ift.tt/36sNW2K

Supreme Court Again Weighs Fate of Affordable Care Act

The conservative-majority U.S. Supreme Court on Tuesday dives back into politically perilous waters as it hears arguments over a Republican challenge backed by President Donald Trump’s administration aiming to invalidate the Obamacare healthcare law. President-elect Joe Biden has criticized Republican … from News – Insurance Journal https://ift.tt/3eOiLCv

FOS: Covid complaints continue

But PPI remains the most complained about product as body highlights proposed fee structure in wake of coronavirus. from Insurer - insuranceage.co.uk https://ift.tt/32xC4LD

Flood Waters Keep Rising in South Florida from Tropical Storm Eta

Beaches and coronavirus testing sites were closed, public transportation shut down and some evacuations in place early Monday after Tropical Storm Eta made landfall in the Florida Keys, bringing heavy rains to already flooded city streets after leaving scores of … from News – Insurance Journal https://ift.tt/36kM4ZN

Florida Regulator Calls for Further Workers’ Comp Rate Decrease

Florida’s insurance regulator has called for a further decrease to proposed workers’ compensation insurance rates in response to a filing by the National Council on Compensation Insurance (NCCI). In an order issued Oct. 30, Florida Insurance Commissioner David Altmaier said … from News – Insurance Journal https://ift.tt/2IhSq3E

London Stock Market to Require Climate Disclosures for Listed Companies

Companies listed on the London Stock Exchange will have to improve disclosures on the risks they are facing from climate change from January, Britain’s financial watchdog said on Monday. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said … from News – Insurance Journal https://ift.tt/2Ucu6mE

Reduced Driving Turns Into Fewer Injuries and Workers’ Compensation Claims

The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance projects that workers’ compensation claims caused by motor … from News – Insurance Journal https://ift.tt/2U8t6jk

Mediator Reports ‘Substantial Progress’ by Bayer in Resolving Roundup Cancer Lawsuits

A court-appointed mediator on Monday said Bayer AG has made “substantial progress” toward resolving tens of thousands of remaining claims that its Roundup weedkiller causes cancer. The mediator Kenneth Feinberg spoke at a Zoom hearing in San Francisco federal court, … from News – Insurance Journal https://ift.tt/2U9xpL1

Philippine Insurers Under Pressure to Meet New Capital Requirement Amid Pandemic

AM Best believes local companies in the Philippine insurance industry will still face significant pressure on underwriting growth and profitability amid the ongoing COVID-19 pandemic with the recent rejection of a proposal to relax minimum capital requirements. A new Best’s … from News – Insurance Journal https://ift.tt/35dJRzO

Study Shows COVID-19 Patients at Greater Risk of Mental Health Problems

Many COVID-19 survivors are likely to be at greater risk of developing mental illness, psychiatrists said on Monday, after a large study found 20% of those infected with the coronavirus are diagnosed with a psychiatric disorder within 90 days. Anxiety, … from News – Insurance Journal https://ift.tt/3kdj7E0

Justices Bound to See ACA as ‘Indispensable,’ Says Californian Leading Defense

SACRAMENTO — When the U.S. Supreme Court hears a case Tuesday that could decide the fate of the Affordable Care Act, California will be leading the defense to uphold the federal law that touches nearly every aspect of the country’s health care system. It’s usually the federal government’s job to defend a federal law, but President Donald Trump’s administration wants this law, also known as Obamacare, to be overturned. So California Attorney General Xavier Becerra, backed by more than 20 other states, is defending the law against the challenge brought by a coalition of Republican state officials two years ago. Becerra has been one of Trump’s most formidable adversaries, taking the administration to court scores of times over its policies, ranging from immigration and birth control to climate change. He is considered one of the leading contenders to fill the Senate vacancy that will open now that Sen. Kamala Harris of California has been elected vice president. “Just as vigorously as...