Insurance Wiki How

An annual report made public by the Montana Department of Labor and Industry has shown that 2019 was slightly more deadly than the previous year in workplaces, with farming the most dangerous industry. The Census of Fatal Occupational Injuries released … from News – Insurance Journal https://ift.tt/3nZrrty

5.7 Earthquake Confirmed 127 Miles Off Oregon Coast

A magnitude 5.7 earthquake struck about 127 miles off the Oregon coast early Tuesday morning, the U.S. Geological Survey confirmed. The earthquake struck at 4:50 a.m. west of Bandon, Oregon, the agency said. The Northwest National Tsunami Warning Center in … from News – Insurance Journal https://ift.tt/3n6Wv9K

Washington Ambulance Company Settles Suit With Pregnant Employee

Ambulance company American Medical Response will settle a discrimination lawsuit after it refused to provide a pregnant Spokane, Washington employee a temporary reprieve from heavy-duty work, regulators announced Monday. AMR will pay $162,500 to a paramedic to resolve a lawsuit … from News – Insurance Journal https://ift.tt/2M9PtE7

UK’s M&A Watchdog Emerges from EU’s Shadow with Massive New Powers

The UK’s parting of the ways from the European Union means that an obscure 7-year-old watchdog is about to gain massive new powers over corporate mergers. Itself the product of a merger of two failing regulators, the Competition and Markets … from News – Insurance Journal https://ift.tt/3hrWQCD

Brexit Ends Britons’ Right to Live and Work in EU – And They Must Buy Travel Insurance

LONDON (AP) – So far, the large majority of British and EU citizens have not felt the realities of Brexit. Though the UK left the European Union on Jan. 31, it follows the bloc’s rules until the end of this … from News – Insurance Journal https://ift.tt/3px93Zx

How the NFL Pulled Off Playing During the Pandemic

It took playing games on all seven days of the week, a wide receiver starting at quarterback, numerous schedule changes and constant revisions to health and safety protocols for the NFL to reach Week 17 on time. That’s a remarkable … from News – Insurance Journal https://ift.tt/3hsEGR7

American Airlines Resumes Passenger Flights on Boeing 737 MAX Aircraft

Boeing’s 737 MAX resumed passenger flights in the United States for the first time on Tuesday after a 20-month safety ban was lifted last month. American Airlines Flight 718 landed at New York’s LaGuardia Airport around 1:08 p.m after departing … from News – Insurance Journal https://ift.tt/2M9tzAT

Court Upholds Trump Rule Requiring Hospitals to Disclose Health Insurer Prices

A federal appeals court on Tuesday upheld a White House-backed rule to require hospitals to disclose the prices they negotiate with insurers for an array of common tests and procedures. The 2-0 decision by the U.S. Court of Appeals for … from News – Insurance Journal https://ift.tt/2MjEzfg

European Freight Forwarders Reject UK Deliveries on Fears of Post-Brexit Border Chaos

European freight forwarders are rejecting contracts to take loads into the UK due to fears the chaos at Dover could be repeated post-Brexit. Transporeon, a German software company that monitors real-time data on freight traffic and rates for more than … from News – Insurance Journal https://ift.tt/34XOdui

Russia Expedites Work on Nord Stream 2 Gas Pipeline Before U.S. Tightens Sanctions

Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany. Construction of the 1,230-kilometer (764-mile) pipeline reached a milestone on Monday with … from News – Insurance Journal https://ift.tt/3htyZCj

The Hilb Group Acquires New York’s Hiram Cohen & Son Inc.

The Hilb Group LLC (THG) has acquired New York-based Hiram Cohen & Son Inc. (HCS). The transaction became effective on December 1, 2020. HCS, founded in 1919, is still operated by descendants of Founder Hiram Cohen, celebrating four generations in … from News – Insurance Journal https://ift.tt/3mX06H7

Insurance Journal’s Top Cyber Stories of 2020

Whether it was cyber risks related to the COVID-19 pandemic or ransomware attacks growing more severe and frequent, cyber insurers had a lot to pay attention to this year. As 2020 wraps up and cyber insurers prepare for a new … from News – Insurance Journal https://ift.tt/3n1Drt8

Acrobats Hurt in Rhode Island Circus Accident Reach $52.5M Settlement

Eight acrobats severely injured when the rigging suspending them by their hair plummeted to the floor during a circus performance in Rhode Island in 2014 have reached a $52.5 million settlement with the ownership and management of the arena where … from News – Insurance Journal https://ift.tt/3aUGtxe

New York Reaches Deal on Cleanup at Long Island Aerospace Site

New York has reached an agreement with defense contractor Northrop Grumman and the U.S. Navy on a $406 million plan to clean up a massive plume of underground contamination left from Long Island’s heyday as a hub of aerospace manufacturing, … from News – Insurance Journal https://ift.tt/3hvp3IQ

Rescuers Race to Find Survivors After Croatia’s Worst Earthquake in 140 Years

Rescuers raced to search for survivors amid strong aftershocks after Croatia’s worst earthquake in 140 years killed seven people and devastated cities and towns in one of the nation’s poorest regions. The 6.3-magnitude tremor on Tuesday damaged most of the … from News – Insurance Journal https://ift.tt/37XADZL

How Agents Can Help Floridians Navigate Hurricane Season Aftermath

The 2020 hurricane season was one for the books. From ferocious storms battering the Gulf Coast to heavy rains inundating the Florida Panhandle, the Atlantic saw an unprecedented amount of activity this year. The Weather Channel reported that this season, … from News – Insurance Journal https://ift.tt/2L3dMmI

20 Killed in Georgia Traffic Accidents Over Christmas Weekend

The Georgia State Patrol says 20 people died in crashes across the state over the Christmas weekend. Troopers said Monday that they investigated 251 crashes from 6 p.m. Thursday through Sunday, resulting in 91 injuries and 11 deaths. Nine other … from News – Insurance Journal https://ift.tt/3pxJNlH

Nebraska Lawsuit: Lincoln Liable in Worker’s Mesothelioma Death

A woman is suing the city of Lincoln, Neb., alleging that her sister died from mesothelioma after she was exposed to asbestos while working at the now shuttered Pershing Center arena. The Lincoln Journal-Star reports that Dixie Johnson filed the … from News – Insurance Journal https://ift.tt/34UiSZM

Kansas Regulators: Recent Wichita Quakes Not Caused by Oil, Gas Activity

A Kansas regulatory agency has determined that the oil and gas industry wasn’t to blame for a recent spate of Wichita earthquakes. The Kansas Corporation Commission looked at wastewater injection wells located within 6 miles (9.66 kilometers) of the epicenters … from News – Insurance Journal https://ift.tt/37WPMus

Introducing the 2020 Insurance Fraud Hall of Shame

The year 2020 would not be complete without a recap of America’s worst insurance fraud crimes. Homeless New Yorkers targeted in a $31.7 million slip-and-fall ring. A sober-home mogul trades sex for drugs. A billionaire insurance mogul attempts to bribe … from News – Insurance Journal https://ift.tt/38PeMD4

Judge Throws Out Apple Copyright Claims Against Security Software Startup Corellium

A federal judge in Florida on Tuesday dismissed Apple Inc.’s copyright infringement claims against a Florida startup whose software helps security researchers find vulnerabilities in Apple products including the iPhone. U.S. District Judge Rodney Smith ruled in favor of Corellium … from News – Insurance Journal https://ift.tt/2JymOYC

Administration Says Railroads Have Met Safety Technology Deadline

The U.S. Transportation Department announced Tuesday that anti-derailment technology positive train control, or PTC, is in operation on all required railroad route miles ahead of a Dec. 31 deadline set by Congress. The Federal Railroad Administration (FRA) has certified that … from News – Insurance Journal https://ift.tt/37Ym7RR

Constellation Affiliated Partners Acquires Coastal Insurance Underwriters, Cybercom of Florida

Constellation Affiliated Partners has acquired Florida-based MGU Coastal Insurance Underwriters and Cybercom. Financial terms of the transaction were not disclosed. Coastal Insurance Underwriters, founded by President and CEO Charles Bushong in 2007, is an insurance program administrator providing products to … from News – Insurance Journal https://ift.tt/3mWjdkB

Sompo Acquires Diversified Crop Insurance, Forms AgriSompo North America

Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property/casualty insurance and reinsurance, has acquired Lenexa, Kan.-based Diversified Crop Insurance Services (DCIS), a subsidiary of CGB Enterprises Inc. (CGB). DCIS and ARMtech, Sompo International’s existing U.S. federally sponsored multi-peril … from News – Insurance Journal https://ift.tt/3rArnTj

Drunken Driving Convictions, Related Offenses Down in Wisconsin

Yearly convictions for drunken driving and other related offenses dropped by nearly 18,000 in Wisconsin between 2004 and 2018, according to a report from the state Legislative Reference Bureau. Alcohol-related fatal crashes have also declined in Wisconsin in the past … from News – Insurance Journal https://ift.tt/2KJpaV2

AM Best Upgrades Capital Insurance Group in California

Monterey, Calif.-based Capital Insurance Group has been upgraded by AM Best. CIG received a rating of A (Excellent) from A- (Excellent). AM Best stated: “Concurrently, AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term … from News – Insurance Journal https://ift.tt/2L4NdgO

Cross-Border Workers in Gibraltar to Retain Free Movement with Spain After Brexit

MADRID – Cross-border workers who commute between Gibraltar and Spain will be exempt from border controls after Brexit even if no agreement on free movement is reached with Britain, Spanish Foreign Minister Arancha Gonzalez Laya said on Monday. Madrid and … from News – Insurance Journal https://ift.tt/2L19OLw

Earthquake Confirmed in Northern California

A magnitude 3.9 earthquake rattled parts of Northern California on Sunday morning, the U.S. Geological Survey confirmed. The earthquake was reported at 6:44 a.m. about 14 miles from Chico. The quake was felt 25 miles away in Paradise, a town … from News – Insurance Journal https://ift.tt/37Ud0S3

Papadopoulo Promoted to President, Chief Underwriting Officer of Arch Capital Group

Arch Capital Group Ltd. (ACGL) announced that Nicolas Papadopoulo will be promoted to the position of president and chief underwriting officer, effective Jan. 1, 2021. Papadopoulo joined Arch in 2001 and currently serves as chairman and CEO of Arch Worldwide … from News – Insurance Journal https://ift.tt/2M9g1Fy

Cyber Attacks Cost Russian Companies and Citizens $49B in 2020: Sberbank

MOSCOW – Cyber attacks have cost Russian companies and citizens up to 3.6 trillion roubles ($49 billion) this year, the country’s largest lender Sberbank said. Russia has encouraged its citizens to switch to bank cards and limit cash use to … from News – Insurance Journal https://ift.tt/2KJI3Hs

Insurance Journal’s Most Noteworthy Topics of 2020: International

COVID-19, mergers and acquistions were just two of noteworthy topics of 2020 covered by the International section of Insurance Journal. Other noteworthy topics included business moves — from startups and existing companies — and natural and manmade catastrophes. We provide … from News – Insurance Journal https://ift.tt/3hqDI7M

U.S. Approves Small Drone Flights Over People at Night

The U.S. Federal Aviation Administration (FAA) on Monday said it is issuing long-awaited rules to allow for small drones to fly over people and at night, a significant step toward their use for widespread commercial deliveries. The FAA is also … from News – Insurance Journal https://ift.tt/2WVCSqp

Girl Scouts, Boy Scouts Trademark Tiff Over Use of ‘Scout’ Part of Recruitment Battle

The Girl Scouts are in a “highly damaging” recruitment war with the Boy Scouts after the latter opened its core services to girls, leading to marketplace confusion and some girls unwittingly joining the Boy Scouts, lawyers for the century-old Girl … from News – Insurance Journal https://ift.tt/34UKRs5

Heavily Criticized Pennsylvania Veterans’ Home Sued Over COVID-19 Outbreak

A state-run veterans’ home in Pennsylvania heavily criticized for its handling of a coronavirus outbreak inside its walls drew a federal wrongful death lawsuit, filed by family members of five residents who died of COVID-19. The family members accuse Southeastern … from News – Insurance Journal https://ift.tt/37XHqCS

Former N.Y. Corrections Officer Pleads Guilty to Stealing More Than $3K in Unearned Wages

A former New York State Department of Corrections and Community Supervision (DOCCS) officer has pled guilty to forging paperwork falsely claiming military service so that he could take time off. Kyle Bouille, of Corning, N.Y., took time off by falsely … from News – Insurance Journal https://ift.tt/2WVhqSp

Insurance Journal’s Most Noteworthy Topics of 2020: East Region

From questions over business interruption policy coverage spurred by the COVID-19 pandemic to property damage due to civil unrest, as well as significant court cases and state regulatory actions, it was a busy year for East region insurers. Here’s a … from News – Insurance Journal https://ift.tt/2WV44W5

Ant Group Weighs Forming Holding Company, Regulated Like Traditional Financial Firms

Ant Group Co Ltd is considering folding most of its online financial businesses, including consumer lending, into a holding company that would be regulated like traditional financial firms, two people with direct knowledge of the matter said. The regulators, mainly … from News – Insurance Journal https://ift.tt/3pt5GCT

Insurance Journal’s Most Noteworthy Topics of 2020: Southeast Region

It was another busy year for the Southeast region – from Florida’s distressed property insurance market to the COVID-19 pandemic, there was plenty of news to follow. Some of the top insurance topics this year included: Florida, Florida, Florida The … from News – Insurance Journal https://ift.tt/3rLxqVk

Insurance Journal’s Most Noteworthy Topics of 2020: Midwest Region

COVID 19: Lawsuits and More Hundreds, if not thousands, of lawsuits have been filed across the U.S. in relation to the COVID-19 pandemic that has gripped the nation and the world this year. The Midwest region has not been spared … from News – Insurance Journal https://ift.tt/2WOXyjT

Insurance Journal’s Most Noteworthy Topics of 2020: South Central Region

Hurricanes, Hurricanes and Tropical Storms It can’t come as any surprise that hurricanes and tropical storms topped the list of the most read subjects of interest in Insurance Journal’s South Central region. In a North Atlantic hurricane season for the … from News – Insurance Journal https://ift.tt/3mXVsZm

Insurers Not Quitting on Cyber Even as Risks Mount

It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded for network-monitoring software made by SolarWinds. Potentially significant … from News – Insurance Journal https://ift.tt/3aM1lql

Insurance Journal’s Most Noteworthy Topics of 2020- National Region

To suggest that the property/casualty insurance industry should count its blessings in the year of the coronavirus is by no means to suggest 2020 was not a challenging year for the industry. The industry faced plenty of challenges throughout the … from News – Insurance Journal https://ift.tt/3hrZCaI

Insurance Journal’s Most Popular Topics in 2020: West Region

The top stories for Insurance Journal’s Western region in 2020 were patently obvious to anyone who reads the news, namely coverage of COVID-19, and stories on the massive Western U.S. wildfires. However, other subjects made their way onto the list … from News – Insurance Journal https://ift.tt/2WUBeW1

How U.S. Government Will Handle COVID-19 Vaccine Injury Claims Is Largely a Secret

Lost in the U.S. launch of the coronavirus vaccine is a fact most don’t know when they roll up their sleeves: In rare cases of serious illness from the shots, the injured are blocked from suing and steered instead to … from News – Insurance Journal https://ift.tt/38FD7LH

Miami Beach Considers Homeowner Grants to Prepare Property for Sea Rise

Miami Beach is exploring a way to help residents cover the cost of floodproofing their properties from heavy rains and high tides made even higher by sea level rise – at least a little. The city is considering offering residents … from News – Insurance Journal https://ift.tt/34Rd4jw

BKS-Partners to Acquire Assets of Tanner, Ballew & Maloof of Atlanta

Baldwin Krystyn Sherman Partners, LLC (BKS-Partners), the middle-market indirect subsidiary of BRP Group, has entered into an agreement to acquire substantially all assets of Tanner, Ballew & Maloof, Inc. (TBM), an Atlanta, Ga.-based provider of commercial P&C insurance to middle … from News – Insurance Journal https://ift.tt/37T9o2K

Mink Captured Outside Oregon Farm Tests Positive for Virus

The Oregon Department of Agriculture said among animals captured during wildlife surveillance near a mink farm that recently had a coronavirus outbreak, a mink believed to have recently escaped confinement tested positive for low levels of the virus known to … from News – Insurance Journal https://ift.tt/3mWzuWC

W. R. Berkley Corp. Launches Special Purpose Reinsurer in Bermuda

W. R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with more than $250 million of equity from a small … from News – Insurance Journal https://ift.tt/3nWIiNA

Insurance Journal’s Top 10 (+1) Most Read Stories of 2020- National Region

There were, of course, recurrent topics and themes– from the coronavirus to business interruption to cyber to acquisitions to the Trump Administration to hurricanes — that dominated property/casualty insurance national news in 2020. At the same time, certain individual national … from News – Insurance Journal https://ift.tt/34OoKne

After Year’s Best IPO, Lemonade Insider Selling Lockup Expiration May Pressure Stock

The best-performing listing of 2020 is poised to enter the new year with extra volatility after insider selling restrictions expire this week. Insurance provider Lemonade Inc. is trading more than 350% above its July 1 initial public offering price, the … from News – Insurance Journal https://ift.tt/3hm21UB

SynchronoSure, American European to Offer General Liability for Small Trucking Firms

Synchrono Group, doing business under SynchronoSure, and American European Insurance Group (AEIG) have expanded their partnership to include trucker general liability insurance for small trucking companies. SynchronoSure will underwrite and administer the business on behalf of AEIG ultimately in 14 … from News – Insurance Journal https://ift.tt/3mNHkly

Insurance Journal’s Top 10 Most Read Stories of 2020: East Region

Here’s a look back at Insurance Journal’s most read stories of 2020 for the East region, based on readership metrics: 1. Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims A proposed New Jersey bill in March … from News – Insurance Journal https://ift.tt/38GNQFv

Philadelphia Insurance Promotes Pottle to Chief Strategic Operations Officer

Philadelphia Insurance Companies (PHLY) has promoted Bob Pottle to executive vice president and chief strategic operations officer (CSOO). The CSOO role is a newly created position that will use Pottle’s 34 years of leadership and experience at PHLY to enhance … from News – Insurance Journal https://ift.tt/2M9D7Mh

Rhode Island’s Providence Mutual Appoints Streton as President, CEO-Elect

Providence Mutual, a Warwick, R.I.-based mutual property/casualty insurance company, has appointed Michele Streton, former vice president and chief operating officer for Personal Lines at Hanover Group, as the company’s new president and CEO-elect. Streton will join Providence Mutual on January … from News – Insurance Journal https://ift.tt/37TepbF

Argo Group Agrees to Sell Its Italian Business

Argo Group International Holdings Ltd., a Bermuda-based underwriter of specialty insurance products, announced an agreement to sell its Italian operations, ArgoGlobal Assicurazioni S.p.A (AGA) to Perfuturo Capital AG, a Swiss holding company. Perfuturo is fully owned by Philantra Holding AG … from News – Insurance Journal https://ift.tt/3hpLpLq

Insurance Journal’s Top 10 Most Read Stories of 2020: International

The top international news story of 2020 was the announcement in March of Aon’s proposed merger with Willis Towers Watson. The subject was of such interest to international readers that four of the 15 most-read articles involved the Aon-WTW merger. … from News – Insurance Journal https://ift.tt/34QGZIJ

Insurance Journal’s Top 10 Most Read Stories of 2020: Southeast Region

Here’s a look back at Insurance Journal’s most read stories of 2020 for the Southeast region, based on readership metrics: 1.) Florida Supreme Court Suspends Attorney Behind Thousands of Insurer Lawsuits Florida attorney Scot Strems was suspended by the Florida … from News – Insurance Journal https://ift.tt/34PxmK9

China Pushes for Restructuring of Ant Group in Latest Blow to Founder Ma

BEIJING – China’s central bank disclosed on Sunday it had asked the country’s payments giant Ant Group Co Ltd. to shake up its lending and other consumer finance operations, the latest blow to its billionaire founder and controlling shareholder Jack … from News – Insurance Journal https://ift.tt/3mTe8JV

What Will Brexit Trade Deal Mean for City of London?

LONDON – Britain, which left the European Union in January, loses full access to the bloc under transition arrangements that end at 2300 GMT on Dec. 31. The 27-nation EU is Britain’s biggest financial services customer, worth about 30 billion … from News – Insurance Journal https://ift.tt/34NU1qu

Insurance Journal’s Top 10 Most Read Stories of 2020: Midwest Region

Motorcycle helmets, protest damage and COVID-19 pandemic-related lawsuits dominated the headlines in Insurance Journal’s Midwest region in 2020. Here’s a look back at some of most read stories for the Midwest region, based on readership metrics: Governor Signs Missouri Bill … from News – Insurance Journal https://ift.tt/3nSOlmw

Wisconsin Appeals Court Upholds $5.5M Award in Fatal Bike Crash

A Wisconsin appeals court has upheld a $5.5 million judgment against a driver who killed a 23-year-old bicyclist in Madison. Brian Hodgson was driving on the city’s west side in June 2015 when he crashed into Emilly Zhu as she … from News – Insurance Journal https://ift.tt/3o6gXZi

Flint. Michigan, Joins $641M Deal to Settle Suits over Lead-Tainted Water

The Flint, Michigan, City Council has signed off on its portion of a $641 million settlement with residents of the poor, majority-Black city who were exposed to lead-tainted water. The city’s insurer would kick in $20 million as part of … from News – Insurance Journal https://ift.tt/38CpMnn

Core Specialty Adds Tokio Marine’s Jacobs to E&O, Professional Liability Team

Cincinnati-based Core Specialty Insurance Holdings reported that Jeff Jacobs has joined as senior vice president, head of Errors and Omissions Professional Liability. Jacobs has 30 years of insurance sector experience leading professional liability, management liability and other commercial property and … from News – Insurance Journal https://ift.tt/3hkgaBI

Insurance Journal’s Top 10 Most Read Stories of 2020: South Central Region

The weather, as usual, made for many headlines in Insurance Journal’s South Central region in 2020. COVID-19 related lawsuits and transactions involving nonstandard auto business also made news. Here’s a look back at some of the most read stories for … from News – Insurance Journal https://ift.tt/3aNohWg

Can Insurance-Related Firms Compel Employees to Get COVID-19 Vaccination?

The long-awaited and highly anticipated COVID-19 vaccine is here. The first to arrive on the scene, from Pfizer-BioNTech, received emergency use authorization from the Food and Drug Administration several days ago. On the heels of that, Moderna’s version got the … from News – Insurance Journal https://ift.tt/37Tm6yA

Insuring Cannabis Summit: Talking to Clients About Risk Starts with Education

Editor’s note: This is part of a series of articles based on panels and presentations during Insurance Journal’s 2020 Insuring Cannabis Summit on Nov. 19. Believe it or not, talking to cannabis businesses about risk isn’t much different than talking … from News – Insurance Journal https://ift.tt/2KJ4Lzj

Insurance Journal’s Top 10 Most Read Stories of 2020- West Region

Wildfires were the big story in the Western U.S. in 2020. And a big underlying theme in those stories is what was being done to deal with them. One of the top stories in Insurance Journal’s Western region was when … from News – Insurance Journal https://ift.tt/2Jp2ysl

Drug Firms Win Court Bid Halting White House Rule Aimed at Lowering Drug Prices

A late-term maneuver by President Donald Trump to use lower drug prices paid overseas to limit some of Medicare’s own costs suffered a legal setback last Wednesday that appears likely to keep the policy from taking effect before the president … from News – Insurance Journal https://ift.tt/34Kum1x

2 Months After Hurricanes, Recovery Elusive for Louisiana Residents

As southwest Louisiana recovers from the back-to-back hurricanes that hammered the region this year, signs of progress compete with lingering evidence of mass destruction. The fallen trees that carpeted neighborhoods have mostly been chopped up and hauled away, but the … from News – Insurance Journal https://ift.tt/2WO7U3h

EU and UK Clinch Narrow Brexit Deal, Just Days Before Transition Period Expires

December 24, 2020

LONDON/BRUSSELS – Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs in its most significant global shift since the loss of empire. The … from News – Insurance Journal https://ift.tt/34YJtoz

Smaller Websites Nervous Over Giant Facebook’s Support for Liability Reform

Facebook Inc. says it’s time to rethink the legal immunity that protects it from lawsuits over what users post online, a position that’s leaving smaller websites concerned about the cost of accepting more responsibility for what appears on their platforms. … from News – Insurance Journal https://ift.tt/3rlt86V

Google Adds Extra Scrutiny of Its Scientists’ Research on ‘Sensitive Topics’

Alphabet Inc.’s Google this year moved to tighten control over its scientists’ papers by launching a “sensitive topics” review, and in at least three cases requested authors refrain from casting its technology in a negative light, according to internal communications … from News – Insurance Journal https://ift.tt/38zsqdH

Chubb Global Markets Promotes Driscoll, Rowley in Professional Indemnity Teams

Chubb announced leadership promotions to its professional indemnity teams for Chubb Global Markets (CGM). Under the changes, Steve Driscoll is appointed head of Professional Indemnity for CGM and also for the United Kingdom & Ireland (UK&I). CGM comprises Chubb’s London … from News – Insurance Journal https://ift.tt/37IKti2

DealerPolicy Purchases Insurance Business from Granite State Independent Insurance

DealerPolicy Insurance Agency of Williston, Vt., has purchased the insurance business associated with Granite State Independent Insurance of Tilton, N.H. Granite State Independent Insurance will cease to operate effective with this transaction. Its personal and commercial insurance customers will now … from News – Insurance Journal https://ift.tt/3hbnhw6

Owner to Rebuild After Upstate New York Sports Dome Collapses Under Snowfall

The owner of a sports complex in the upstate New York city of Binghamton says he plans to rebuild after its air-supported dome collapsed under this week’s record-breaking snowfall. No one was injured when one of the state’s largest indoor … from News – Insurance Journal https://ift.tt/3mKk73q

Worker Pinned, Seriously Injured While Removing Snow in Massachusetts

A landscape worker was seriously injured after becoming pinned by his equipment while removing snow, Chelmsford police said. A worker in the building called 911 after hearing a man yelling for help. Police and firefighters found the man pinned between … from News – Insurance Journal https://ift.tt/3mLSF5z

Brexit-Trade-Deal Talks Remain Snagged with Just 8 Days to Year-End Deadline

LONDON/BRUSSELS – The United Kingdom and the European Union have still not clinched a Brexit trade deal to avoid a turbulent split in just eight days time because of serious disagreements about competition and fishing, a British minister said on … from News – Insurance Journal https://ift.tt/37G9z1d

Allianz’ Real Estate Unit Bets on London with Purchase of Office Buildings for $539M

Allianz SE’s real estate unit will take a majority stake in a portfolio of buildings owned by British Land Co. in London’s virus-roiled West End district. The insurance giant has agreed to pay 401 million pounds [$539 million] for a … from News – Insurance Journal https://ift.tt/2Jd47t9

Data Theft at Defense Firm Leonardo Targeted Details of Military Aircraft: Arrest Warrant

MILAN – An investigation into a data theft at Leonardo has found that a hacker working inside the Italian defense group appeared to target details of Europe’s biggest unmanned fighter jet program and aircraft used by the military and police, … from News – Insurance Journal https://ift.tt/2KmJ0W9

J.M. Wilson Promotes Gibbons to Sr. Transportation Underwriter in Ohio

Managing general agency and surplus lines insurance broker J.M. Wilson has promoted Ryan Gibbons as senior transportation underwriter in its Westerville, Ohio. office. Gibbons is responsible for underwriting new and renewal accounts for a wide variety of commercial transportation risks, … from News – Insurance Journal https://ift.tt/38tfIgv

Tennnessee High Court: Presumption Law Protects Agents, Carriers

Under Tennessee law, policyholders who pay their premiums create a legal presumption that they have accepted the terms of coverage. The statute limits lawsuits by underinsured policyholders who thought they had enough coverage but found after a loss that they … from News – Insurance Journal https://ift.tt/3pfB3AI

Michigan Recovers More than $16.2M for Insurance Consumers

The Michigan Department of Insurance and Financial Services (DIFS) says it helped recover more than $16.2 million for consumers during the 2020 fiscal year, which ended Sept. 30. DIFS’ Office of Consumer Services helped consumers recover $9 million in settled … from News – Insurance Journal https://ift.tt/3nWzCah

Judge: Government Must Pay Lower Missouri River Landowners for Flood Damage

The federal government must pay some landowners along the lower Missouri River for flooding damage caused by changes the Army Corps of Engineers made to the river to protect endangered species, a judge has ruled. The ruling this week by … from News – Insurance Journal https://ift.tt/3aBYrnO

Aon’s Eldredge Named General Counsel at Broker TigerRisk

Insurance broker/advisor TigerRisk has appointed Daniel J. “Tad” Eldredge as partner and general counsel. He is located in Minneapolis, Minn. Eldredge comes to TigerRisk from Aon where he was chief counsel, Corporate and Americas, served on the Global Executive Committee … from News – Insurance Journal https://ift.tt/3nIpi5y

Texas Surplus Lines Stamping Office: Fee Decreases on Jan. 1, 2021

The Surplus Lines Stamping Office of Texas (SLTX) is reminding wholesale agents and brokers that the stamping fee for recording surplus lines insurance policies in Texas will be lower beginning on Jan. 1, 2021. The stamping fee will drop from … from News – Insurance Journal https://ift.tt/2KMLRYf

Indiana Lawmakers to Push for Coronavirus Liability Shield

Indiana’s governor and legislative leaders are lining up in favor of giving a legal shield to businesses from COVID-19 lawsuits when the General Assembly returns to action next month. Supporters argue the liability protection is needed for factories, stores, restaurants … from News – Insurance Journal https://ift.tt/34FxrQB

Masks Help Curb COVID-19’s Spread But May Not be Enough at Close Distances

Simply wearing a face mask may not be enough to prevent the spread of COVID-19 without social distancing. In a new project Physics of Fluids, by AIP Publishing, researchers tested how five different types of mask materials impacted the spread … from News – Insurance Journal https://ift.tt/34D5WXW

Insuring Cannabis Summit: Legal Cannabis Space Moving at Light Speed

Editor’s note: This is part of a series of articles based on panels and presentations during Insurance Journal’s 2020 Insuring Cannabis Summit on Nov. 19. Things aren’t just moving fast in the legal cannabis space, they are moving very fast. … from News – Insurance Journal https://ift.tt/3hc8L7c

Walmart Denies U.S. Charges It Fueled Opioid Crisis by Filling ‘Illegitimate Prescriptions’

The U.S. Justice Department sued Walmart Inc. on Tuesday, accusing the world’s biggest retailer of fueling the opioid crisis in the United States, ignoring warning signs from its pharmacists and filling thousands of invalid prescriptions. In a civil lawsuit in … from News – Insurance Journal https://ift.tt/34CZWP4

Challenges Facing Healthcare Pros on COVID Vaccine Frontlines: Q&A with Aon Experts

Is the U.S. healthcare industry prepared to shoulder the massive responsibility of administering an estimated 300 million COVID-19 vaccinations? Healthcare professionals will face challenges, according to experts at insurance broker Aon. Most of those giving the shots will have experience … from News – Insurance Journal https://ift.tt/34zoyYM

Cover Whale Expands Trucking Offering to Include Fleets

Cover Whale, an insurtech with a specialty niche in the trucking and transportation segment, has expanded its trucking insurance products to include a fleet insurance program. Fleet managers and select insurance brokers now have access to the Cover Whale online … from News – Insurance Journal https://ift.tt/2KTTHzm

New AAIS Fire Risk Model Approved by Florida Regulator

Insurance advisory organization AAIS (American Association of Insurance Services) has received approval from the Florida Office of Insurance Regulation for its new predictive model. The AAIS Fire Loss and Mitigation Evaluation Score (FLAMES) was designed to improve on existing methods … from News – Insurance Journal https://ift.tt/2Jh2pHm

Combined Losses from Laura and Delta Top $5B in Louisiana

Reported insured losses from Hurricanes Laura and Delta collectively have topped more than $5 billion as of Nov. 20, the state insurance department said. More than 236,938 claims had been reported as of Nov. 20 for the two hurricanes that … from News – Insurance Journal https://ift.tt/3nL02eH

Louisiana Virus Rules Dispute Returned to Lower Court

The Louisiana Supreme Court on Dec. 21 sent a legal feud between Gov. John Bel Edwards and House Republicans over coronavirus restrictions back to district court, saying the judge ruled too quickly that the state law the GOP used to … from News – Insurance Journal https://ift.tt/3hcGfTh

Kilauea Volcano Erupting on Hawaii’s Big Island

The Kilauea volcano on Hawaii’s Big Island has erupted, the U.S. Geological Survey said. The eruption began late Sunday within the within Halema’uma’u crater. The volcano is located within Hawaii Volcanoes National Park. A magnitude 4.4 earthquake hit about an … from News – Insurance Journal https://ift.tt/2WFfYTT

Sompo Acquiring W. Brown & Associates in California

Sompo International Holdings Ltd. has acquired W. Brown & Associates Insurance Services in Irvine, Calif. Brown has been a managing general underwriter for Sompo International since 2016. The W. Brown operations will remain intact, leveraging the MGU’s management and underwriting … from News – Insurance Journal https://ift.tt/3nHohe3

California COVID-19 Workers’ Comp Claim Volume Trending up Again

California workers’ comp COVID-19 monthly claim volume, which fell sharply in August and September, is now trending up again, climbing 9.0% in October, then more than doubling in November, according to a California Workers’ Compensation Institute. The CWCI reviewed claims … from News – Insurance Journal https://ift.tt/3pfPzZ7

Brown & Brown Agrees to Acquire Irish Broker O’Leary Insurances

Brown & Brown Inc., the Daytona Beach, Fla.-based broker, announced it has entered into an agreement to acquire the general insurance operating companies of O’Leary Insurances (OLI) in Ireland. The transaction is expected to close in January 2021, subject to … from News – Insurance Journal https://ift.tt/3ph3mi9

New Group Launched for Senior Claims Managers in London Insurance Market

A new group for senior claims managers in the London insurance market has been established by the International Underwriting Association (IUA). The Claims Strategy Committee will oversee and coordinate all claims-related issues discussed by companies. It has been set up … from News – Insurance Journal https://ift.tt/2JaPypZ

Legacy Specialist DARAG Completes First Acquisition in Luxembourg

DARAG Group Ltd., the Malta-based legacy acquirer, announced the completion of its purchase of Arisa Assurances SA, a Luxembourg-based automobile and travel insurance company previously owned by ADAC Versicherung AG. The transaction, announced in August, was conducted through DARAG’s German … from News – Insurance Journal https://ift.tt/3rifGAt

Brexit Trade Talks Remain Snagged but Agreement Edges Closer

BRUSSELS – Britain and the European Union narrowed the gap on access to fish stocks from 2021 but the politically sensitive matter was still in the way of a new trade pact, Brussels sources said on Tuesday ahead of a … from News – Insurance Journal https://ift.tt/3nGFx2N

Here’s What’s In the $900 Billion COVID-19 Bill

U.S. congressional leaders said on Sunday they had reached agreement on a $900 billion package to provide the first new aid in months to an economy hammered by the novel coronavirus pandemic, with votes on Monday. Here’s what is in … from News – Insurance Journal https://ift.tt/3mK3hBQ

Different Federal, State Rules Confuse Employers Seeking COVID Vaccine for Workers

U.S. companies and industry groups trying to move their workers to the front of the line for a COVID-19 vaccine remain confused about conflicting state and local guidelines on how shots will be administered and to which workers, even as … from News – Insurance Journal https://ift.tt/3h8jKid

Viewpoint: How the Northeastern U.S. Private Flood Market Can Close the Coverage Gap

The northeastern U.S. is one of the key areas of the country at risk for flooding, as evidenced by the billions in losses from Superstorm Sandy, which saw more than $8.1 billion in 144,000 NFIP (National Flood Insurance Program) claims. … from News – Insurance Journal https://ift.tt/2KNVdTi

Thomas Miller Americas Appoints Arralde as Senior Claims Director in New Jersey

Thomas Miller Americas, a provider of insurance services, has appointed Noreen Arralde as senior claims director in its New Jersey office. Arralde rejoins Thomas Miller Americas from another protection and indemnity provider, where she spent two years serving as a … from News – Insurance Journal https://ift.tt/37H2Sfj

The Hilb Group Acquires New Jersey’s William H. Connolly & Co.

The Hilb Group LLC (THG) has acquired New Jersey-based William H. Connolly & Co. LLC (WHC). The transaction became effective on December 1, 2020. Founded in 1950 by William H. Connolly Sr., WHC is currently owned and run by his … from News – Insurance Journal https://ift.tt/37FU75f

Babies Born Addicted to Opioids Can Sue Drug Makers: Tennessee High Court

The Tennessee Supreme Court has ruled that opioid producers can be sued under the state’s Drug Dealer Liability Act, allowing a lawsuit filed on behalf of children born dependent to opioids to move forward. The high court made the unanimous … from News – Insurance Journal https://ift.tt/3rhdxoJ

Florida Market Stabilization Critical to Reducing Citizens’ Exposure: Study

Florida’s fluctuating and volatile private market may be instigating long-term policy growth for Citizens Property Insurance Corp. and creating serious obstacles to its position as the state’s residual insurer, according to a new study. The 236-page “Exposure Reduction and Depopulation … from News – Insurance Journal https://ift.tt/3mGIkHS

Florida Investigating Server Hacking Through SolarWinds Software

Florida officials acknowledged Friday that state servers appear to have been compromised by overseas hackers who gained entry by imbedding malicious code into networking software from a Texas-based software company, SolarWinds. Two Florida officials who have knowledge of the matter … from News – Insurance Journal https://ift.tt/3axs4qo

J.M. Wilson Promotes Goecker to Branch Manager in Kansas City

Managing general agency and surplus lines insurance broker J.M. Wilson has promoted Tyler Goecker to branch manager in its Kansas City, Mo., office. He will plan the day to day operations of the Kansas City office, coordinate the staff, and … from News – Insurance Journal https://ift.tt/3haqNH2

Judge Dismisses Excessive Ticketing Lawsuit Against Georgia City

A federal judge has dismissed a lawsuit claiming that an Atlanta suburb improperly relied on fines and fees to finance its budget. U.S. District Judge Richard Story last week dismissed a case brought against the city of Doraville by four … from News – Insurance Journal https://ift.tt/3mD9ek1

Illinois Harley-Davidson Dealer to Pay $193.75K to Settle Harassment, Retaliation Suit

Three companies operating a now-closed Harley-Davidson dealership in Glenview, Ill., have agreed to pay a former employee $193,750 and furnish other relief under a consent decree to settle a federal sex harassment and retaliatory firing lawsuit. The U.S. Equal Employment … from News – Insurance Journal https://ift.tt/3nHXaPM

Michigan’s AF Group Makes Executive Changes in Workers’ Comp Division

AF Group, based in Lansing, Mich., has made several executive appointments and promotions within its Workers’ Compensation division. Michelle McLane, named senior vice president of Business Development. With a strong background in underwriting, broker relations and territory management, McLane has … from News – Insurance Journal https://ift.tt/3aEpsqZ

Lockton Adds Marsh’s Urias to Expand Southern California Business

Lockton Pacific has added Dan Urias as a vice president and producer to grow its commercial insurance presence in the Orange County and Inland Empire regions of Southern California. Urias is part of the Lockton’s Pacific region, which encompasses eight … from News – Insurance Journal https://ift.tt/3p9g2HG

Insurance M&A Rebound to Continue Into 2021: PwC

Insurance mergers and acquisitions (M&A) rebounded from COVID-19 challenges in the second half of 2020. The trend should continue well into 2021 as companies unload non-core assets and purse cost-effective advancements in technology, PwC said in a new report. The … from News – Insurance Journal https://ift.tt/2Wzk0x1

Cybersecurity Firm Transmosis, Cysurance to Offer Small Business Cyber Protection

Transmosis, a provider of small business cybersecurity protection, has launched an integrated product offering with cyber insurance provider Cysurance, a Chubb company. The new cyber liability insurance product works with the CyberOPS A.I. software and 24/7 live virtual Security Operations … from News – Insurance Journal https://ift.tt/2KLGb0q

International Paper Relocates Captive from Vermont to Tennessee

Memphis-based global fiber-based packaging, pulp and paper products leader International Paper has relocated its captive insurance company from Vermont to Tennessee, according to a statement from The Tennessee Department of Commerce & Insurance’s (TDCI) Captive Insurance Section. International Paper has … from News – Insurance Journal https://ift.tt/37CLvMK

Wichita, Kansas, Records More Quakes, Including Largest in 5 Years

Multiple earthquakes rattled Wichita, Kan., on Dec. 19, with the largest measuring 3.7 on the Richter scale. That makes the trembler the largest on record in the city in the last five years, although it’s still is considered relatively small. … from News – Insurance Journal https://ift.tt/37DuSk7

Through November, Texas Surplus Lines Premium 12% Higher than Last Year

Texas surplus lines premium recorded by the Surplus Lines Stamping Office of Texas (SLTX) rose to $587.46 million in November. The recorded premium year to date as of November is 12.3% higher than that of the same period in 2019, … from News – Insurance Journal https://ift.tt/3rkgzZx

Washington Drug Chain Settles over Invalid Prescriptions

The U.S. Department of Justice says it and Bartell Drugs have resolved allegations that the pharmacy chain filled invalid prescriptions between July 2016 and August 2020 in violation of the Controlled Substances Act. U.S. Attorney Brian T. Moran said under … from News – Insurance Journal https://ift.tt/3nGHbS5

Small Earthquake Confirmed Near Colorado-Utah Border

A small earthquake hit a rural area Saturday near the Colorado-Utah border, the University of Utah Seismograph Stations confirmed. The magnitude 4.3 earthquake took place at 7:11 p.m on Saturday. The epicenter was 3 1/2 miles southwest of Bedrock, Colorado, … from News – Insurance Journal https://ift.tt/2Wy2AAS

Montana Requires $285M Cleanup Bond from Coal Company

Montana environmental regulators have forced the owners of a power plant to provide a $285 million cleanup bond, a move some local organizations hailed as a victory for conservation. But Talen Energy, the owner of the Colstrip Power Plant, filed … from News – Insurance Journal https://ift.tt/3h96A4v

Lloyd’s Syndicate Dale and DUAL Launch MGU with Focus on U.S. Property Insurance

Dale Underwriting Partners and DUAL announced a new joint venture, Dale DUAL MGU Ltd. (DDML), in collaboration with Aviva with immediate effect. This partnership has been brought together by Howden Reinsurance Broking led by head of Global Specialty Reinsurance, Gordon … from News – Insurance Journal https://ift.tt/3mHezH0

Licensing, Other Changes for Insurance Agents in Virginia to Take Effect Jan. 1

Changes in licensing, fees and continuing education due dates for insurance agents in Virginia will take effect January 1, 2021. These changes, as provided by Virginia law, have been in the works for more than two years and are among … from News – Insurance Journal https://ift.tt/3nKq4Py

Bettencourt Approved as New Hampshire Deputy Insurance Commissioner

New Hampshire Governor Chris Sununu has approved the nomination of Policy Director D.J. Bettencourt as the next deputy commissioner of the New Hampshire Insurance Department. Bettencourt, a former state representative from Salem, N.H., who has served as the Governor’s liaison … from News – Insurance Journal https://ift.tt/2Kokh3y

Many Nations Close Borders to British Travelers over Fears of New Coronavirus Strain

DOVER, England – A slew of countries closed their borders to Britain on Monday over fears of a highly infectious new coronavirus strain, heightening global panic, causing travel chaos and raising the prospect of UK food shortages days before the … from News – Insurance Journal https://ift.tt/2KHPrCL

Files Raise Questions About Purdue Pharma Family’s Transfer of $10B Over Decade

Members of the wealthy Sackler family, owners of OxyContin maker Purdue Pharma LP, have long denied that the $10 billion they transferred from their company over the course of a decade was an unlawful attempt to shield assets in anticipation … from News – Insurance Journal https://ift.tt/3rhuEqw

UK Broker Specialist Risk Group to Be Acquired by Private Equity Firm HGGC

Specialist Risk Group (SRG), a London-based specialist insurance broker, announced it has signed a definitive agreement to be acquired by middle-market private equity firm HGGC. SRG’s management team will invest alongside HGGC and continue to hold a significant stake in … from News – Insurance Journal https://ift.tt/3mDDEmi

PM Johnson Faces Deal-Or-No-Deal Choice as EU Balks at UK Brexit Demands

Boris Johnson faces a choice in the next few hours that will define his premiership: accept a trade deal with the European Union or go it alone. It could scarcely have come at a more difficult time for him. As … from News – Insurance Journal https://ift.tt/2WxvzVs

Hanleigh Hires Cremens as Sales Director in Connecticut Office

Hanleigh, a subsidiary of CRC Group – a nationwide wholesale distributor of specialty insurance products – has hired Scott Cremens as sales director, based in its Windsor, Conn., office. Hanleigh is a managing general underwriter offering high limit disability, personal … from News – Insurance Journal https://ift.tt/37BdNHb

University of North Carolina Suspends 3 Fraternities Accused of Drug Trafficking

The University of North Carolina at Chapel Hill announced Friday that it has suspended three fraternities that have been linked to a drug trafficking ring that federal prosecutors say funneled large amounts of drugs into three college campuses. The U.S. … from News – Insurance Journal https://ift.tt/3p7PF59

JM Wilson Adds Yohn as Assistant Transportation Underwriter in South Carolina

JM Wilson has has hired Jamie Yohn as assistant transportation underwriter in its Charleston, S.C., office. Yohn is responsible for assisting underwriters on a wide variety of transportation risks, quoting new and renewal business, corresponding with carrier underwriters, and assisting … from News – Insurance Journal https://ift.tt/3h696IB

49 Georgia Businesses Caught in 5-Person Burglary Ring

A Georgia prosecutor says a burglary ring hit 49 businesses a total of 58 times over four months, and five people are accused. Targets included gas stations, dollar stores and popular restaurants in Macon, and burglaries occurred from Dec. 23, … from News – Insurance Journal https://ift.tt/38pW7gT

J.M. Wilson Hires Cella, Tokarz as Assistant Underwriters in Illinois

Managing general agency and surplus lines broker J.M. Wilson has added Scott Cella as assistant property/casualty underwriter and Ryan Tokarz as assistant transportation underwriter in its Arlington Heights, Ill., office. Cella and Tokarz are responsible for assisting with new and … from News – Insurance Journal https://ift.tt/38opWyp

Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty (P/C) subsidiaries of United Fire Group Inc. … from News – Insurance Journal https://ift.tt/2WAB7ii

Cyber Experts Race to Secure Networks Following Broad Cyber Attack on U.S.

Russian hackers who broke into U.S. government agencies also spied on less high-profile organizations, including groups in Britain, a U.S. internet provider and a county government in Arizona, according to web records and a security source. More details were revealed … from News – Insurance Journal https://ift.tt/38oEiPy

Court Allows Dr. Seuss’s Estate to Sue ComicMix Over ‘Star Trek’ Mashup

Dr. Seuss’s estate may sue the publisher of a “Star Trek”-themed “mash-up” of the famed children’s author’s final book because it was not protected as “fair use,” a federal appeals court ruled on Friday. Reversing a lower court ruling, the … from News – Insurance Journal https://ift.tt/3aHElc7

Insuring Cannabis Summit: There Were Crop Risks Aplenty in 2020

Editor’s note: This is part of a series of articles based on panels and presentations during Insurance Journal’s 2020 Insuring Cannabis Summit on Nov. 19. Is there a lot of risk in cannabis crops that insurance professionals should know about? … from News – Insurance Journal https://ift.tt/37yF6C5

Moderna Vaccine Distribution Begins; CDC Urges Priority for Frontline Workers, Elderly

An advisory panel on Sunday recommended U.S. frontline essential workers and people 75 and older should be next in line to get inoculated as the distribution of Moderna Inc.’s vaccine, the second approved coronavirus vaccine, began across the country. The … from News – Insurance Journal https://ift.tt/3h2KqAU

Suspected Russian Hack of U.S. Government: Espionage or Act of War?

December 20, 2020

The suspected Russian hack of U.S. government agencies has led to heated rhetoric from lawmakers, with U.S. Senator Dick Durbin calling it “virtually a declaration of war” and U.S. Senator Marco Rubio saying that “America must retaliate, and not just … from News – Insurance Journal https://ift.tt/34xnnZN

SEC Lawsuit Alleges Biotech Firm, CEO Misled Investors About COVID-19 Tests

The U.S. Securities and Exchange Commission sued Decision Diagnostics Corp. and its chief executive for allegedly misleading investors by promising the biotechnology company could test for COVID-19 with a finger-prick of blood and provide accurate results in less than one … from News – Insurance Journal https://ift.tt/38hQhOQ

Q&A - Ian Donaldson

The Atlanta CEO reviews the past 12 months and concludes 2021 should be about more than Ebitda and KPIs. from Insurer - insuranceage.co.uk https://ift.tt/3apEJM2

‘If Not One Thing, It’s Another’: Storm Rolls into Northeast

A major snowstorm rolled into the Northeast on Wednesday at a key moment in the coronavirus pandemic, days after the start of the U.S. vaccination campaign and in the thick of a virus surge that has throngs of people seeking … from News – Insurance Journal https://ift.tt/2Wubqj7

Judgment in UK COVID Business Interruption Appeal Will Be Handed Down in January

LONDON – There will be no judgment in an appeal over business interruption insurance this year, Britain’s markets watchdog said on Tuesday, dashing hopes of an early outcome in a case that could affect billions of pounds in claims. Britain’s … from News – Insurance Journal https://ift.tt/3rcztBA

S. African Insurer Guardrisk Will Not Challenge Court Ruling on COVID-19 Claims

JOHANNESBURG – South African insurer Guardrisk will not further challenge a court process that has found it liable to pay clients’ rejected coronavirus-related claims, it said late on Thursday. Guardrisk, the country’s fourth-largest non-life insurer, and its peers around the … from News – Insurance Journal https://ift.tt/3mxuFTu

AssetSure Hires Karlunas as Vice President, Personal Insurance Practice Leader

Independent insurance agency AssetSure has hired Ted Karlunas as vice president and Personal Insurance Practice leader. In this role, Karlunas will lead personal insurance operations as the agency expands its outreach to new territories. He will be involved in the … from News – Insurance Journal https://ift.tt/3r8d0Fs

Risk Strategies Acquires New York’s FBA National

Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired FBA National, a specialist in developing employee benefits solutions that align with an organization’s goals and workforce needs. FBA National was represented by MidCap Advisors in … from News – Insurance Journal https://ift.tt/3mt8w8V

Worry+Peace launches new platform

The business says the tool, which is targeted at brokers, insurers and MGAs, is designed for non-core business lines where a fully e-traded system would be too expensive. from Insurer - insuranceage.co.uk https://ift.tt/2J3Ve5e

Climate Change Poses Much Greater Existential Risk for the World Than COVID-19

Similar to the COVID-19 pandemic, climate change ultimately will be managed by “bending the curve” of temperature rises and lowering greenhouse gas emissions, according to Rowan Douglas, Head of Climate and Resilience Hub at Willis Towers Watson. But that’s where … from News – Insurance Journal https://ift.tt/2K6wcD9

COVID Vaccine Rollout Spurs Demand for Extra Insurance Coverage

LONDON – Speedy global delivery of COVID-19 vaccines by air and sea in ultra cold conditions will lead to a jump in cargo insurance rates and spur demand for new areas of coverage, leaving underwriters on high alert. Pharmaceutical companies … from News – Insurance Journal https://ift.tt/37wr7N8

4 Georgia Firms Form Southeast-Focused Oakbridge Insurance Agency

Four retail insurance brokers – Founders Insurance, Hutchinson Traylor Insurance, McGinty-Gordon & Associates, and Waites & Foshee – have signed definitive agreements to combine to form Oakbridge Insurance Agency LLC, a new insurance brokerage firm serving clients across Georgia and … from News – Insurance Journal https://ift.tt/3haVMmB

Insuring Cannabis Summit: Industry at Diversity Crossroads

Editor’s note: This is part of a series of articles based on panels and presentations during Insurance Journal’s 2020 Insuring Cannabis Summit on Nov. 19. Diversity needs to be more than a mere buzzword in the cannabis industry. That was … from News – Insurance Journal https://ift.tt/3gVSUd4

Hospital Charges Rise Despite Fewer Visits to Emergency Rooms

Auto casualty claimants are avoiding hospital emergency rooms during the COVID-19 pandemic but are generating increased hospital charges anyway, according to a new report by Mitchell, a San Diego-based claims administrator. “Anecdotally, we have heard that some people have been … from News – Insurance Journal https://ift.tt/2J3oWY4

Topa Insurance Group in California Names Eyre to Board

Calabasas, Calif.-based Topa Insurance Group has named William Eyre to the board of directors. Eyre has more than 40 years of experience in the reinsurance industry, both in executive positions and sales. Eyre is currently managing director at Pinnacle Risk … from News – Insurance Journal https://ift.tt/2WEfrBX

National Labor Board Says Amazon Illegally Fired Protesting Employee

The U.S. National Labor Relations Board on Tuesday alleged Amazon.com Inc. illegally fired an employee this year who was raising alarm about workplace safety during the COVID-19 pandemic. Amazon associate Gerald Bryson was helping lead a protest outside a company … from News – Insurance Journal https://ift.tt/38dKjP0

Openly, High-End Home Insurance MGA, Secures $40M for National Expansion

Openly, an insurtech managing general agency for high-end homeowners insurance, raised $40 million of venture capital from multiple investors. The investment will fuel a national expansion, hiring and further technological development. “The reception has been phenomenal,” Openly co-founder and CEO … from News – Insurance Journal https://ift.tt/2KjhKrf

Berkshire Hathaway GUARD Expands Accountants Policy Into Georgia

Berkshire Hathaway GUARD Insurance Companies has added Georgia to the list of states where it company offers its Accountants Professional Liability policy. Georgia is now the sixth state that the insurer offers this product to go along with Arizona, Illinois, … from News – Insurance Journal https://ift.tt/37w7Paw

Origami Risk Tools Track COVID-19 Vaccinations, Outbreaks

Origami Risk, a risk, safety and insurance software as a service (SaaS) technology firm, has developed new online tools for healthcare providers, nursing homes and employers in all sectors to track employee COVID-19 vaccinations as well as to monitor and … from News – Insurance Journal https://ift.tt/37uFvFF

Hammond, Indiana, to Pay $80.75K to Resolve Disability Discrimination Charge

Hammond, Ind., has agreed pay up to $80,750 and furnish other relief to resolve a federal disability discrimination finding. The U.S. Equal Employment Opportunity Commission (EEOC) said an investigation found reasonable cause to believe that the City of Hammond subjected … from News – Insurance Journal https://ift.tt/3nwKdbF

Iowa Police Chief Sues Law Enforcement Academy Over Toxic Gas Leak in 2018

A police chief is suing the Iowa Law Enforcement Academy for injuries he suffered from a 2018 carbon monoxide leak that exposed dozens of recruits to unsafe levels of the toxic gas. Justin Lyman, police chief in the northwestern Iowa … from News – Insurance Journal https://ift.tt/2WnnAKR

2 Dead in Louisiana Salt Mine Ceiling Collapse

Two people died when the ceiling in a salt mine fell in Louisiana, authorities and the mine operator said. A portion of the ceiling in a part of the underground mine on Avery Island came down on Dec. 14. Sixteen … from News – Insurance Journal https://ift.tt/3agN0Su

9 Appeals Court Judges Recuse Themselves in Louisiana Church Sex Abuse Suit

All nine judges in Louisiana’s Second Circuit Court of Appeal have recused themselves from a sexual abuse lawsuit against the Catholic Diocese of Shreveport and a late priest. Following the full court recusal, the Louisiana State Supreme Court reassigned the … from News – Insurance Journal https://ift.tt/3r7xzlz

Lawmakers: Insurance Disputes, Slow Response Hinder Louisiana Storm Recovery

Southwest Louisiana lawmakers on Dec. 16 criticized the insurance industry’s handling of claims from Hurricanes Laura and Delta, describing slow responses, low-balled damage estimates and drones used to assess destruction instead of people. “We’re almost four months ago (since Laura), … from News – Insurance Journal https://ift.tt/3mqiQ1n

Contractors Involved in California Stadium Construction Death Cited

California’s workplace safety agency has cited two companies for violations in connection with the death of a construction worker who fell from the roof at SoFi Stadium, the new home of the NFL’s Los Angeles Rams and Los Angeles Chargers. … from News – Insurance Journal https://ift.tt/3ah7Gtz

Lloyd’s Moves to End Insurance and Investments in Coal for Climate Sustainability

The Lloyd’s market is moving to end its insurance of coal and oil sands businesses while at the same time ceasing investments in such carbon-producing assets by Jan. 1, 2022. As part of its plan to accelerate the transition to … from News – Insurance Journal https://ift.tt/3nsbETO

Exxon Argues Massachusetts Climate Fraud Lawsuit Punishes It for Opinion

Exxon Mobil Corp. told a judge that a fraud lawsuit filed by Massachusetts last year amounts to illegal punishment for the energy giant’s views about fossil fuels, the latest twist in their bitter clash over climate change. The suit by … from News – Insurance Journal https://ift.tt/3nusoKi

First Coronavirus Business Interruption Trial Gets Underway

The owners of a restaurant in the heart of the New Orleans French Quarter are asking a Louisiana judge to order some Lloyd’s of London insurers to cover losses from the Covid-19 outbreak — the first of a growing number … from News – Insurance Journal https://ift.tt/3gZKdyu

Maryland Woman Charged with Insurance Fraud After Setting Fire to Her House

After a lengthy investigation, deputies of the Maryland State Fire Marshal’s Office have charged a Caroline County woman for intentionally setting fire to her house. The fire was reported to 911 by a passer-by around 5 a.m. on June 15, … from News – Insurance Journal https://ift.tt/3gUv8xY

Canada Reports 20-Year High in Overseas Investment in Insurance M&A

Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021. … from News – Insurance Journal https://ift.tt/3r2qBhE

Shell Fights Landmark Case Alleging Its Climate Change Stance Harms Human Rights

Royal Dutch Shell Plc is in court in The Hague for the final hearing in a landmark case that could force it to reduce its carbon footprint. The case brought by the Dutch arm of Friends of the Earth, Milieudefensie, … from News – Insurance Journal https://ift.tt/2LLeipS

Q&A - Allianz's Sarah Mallaby

Mallaby reviews 2020 and looks to 2021 in our quickfire Q&A. from Insurer - insuranceage.co.uk https://ift.tt/37wPTwR

Solvency II Capital Rules for Insurers Need Changing: EU Watchdog

The European Union’s capital rules for insurers need changing to reflect low interest rates and the need stronger supervisory powers to tackle risks, the bloc’s insurance watchdog said on Thursday. The EU is reviewing its Solvency II capital requirements for … from News – Insurance Journal https://ift.tt/3r5Arzm

South Africa Court Dismisses Insurer Guardrisk’s Appeal in Coronavirus Claims Case

JOHANNESBURG – A South African court on Thursday dismissed insurer Guardrisk’s appeal against a previous ruling that found it was liable pay a Cape Town cafe’s rejected coronavirus claim. Like other insurers in South Africa and around the world, Guardrisk, … from News – Insurance Journal https://ift.tt/3mta42A

The Hilb Group Acquires New York’s Moran, Moran, & Dauphin Inc.

The Hilb Group LLC (THG) has acquired New York-based Moran, Moran, & Dauphin Inc. (MMDI). The transaction became effective on November 1, 2020. Founded in 2006, MMDI operates as a full-service agency primarily providing property/casualty insurance products mostly for personal … from News – Insurance Journal https://ift.tt/3anfaeu

Marshall & Sterling Insurance to Acquire New York’s Jaeger & Flynn Associates

Marshall & Sterling Insurance, a 100% employee-owned company, has entered into an agreement to acquire Jaeger & Flynn Associates Inc. (JFA), an employee benefits broker and third-party administrative services (TPA) provider in New York’s greater capital region. This acquisition will … from News – Insurance Journal https://ift.tt/3gTHYwz

Japan Post’s Insurance Unit Plans $2.9 Billion Buyback of Shares from Parent

Japan Post Holdings Co.’s insurance unit plans to buy back about 300 billion yen ($2.9 billion) of shares from its parent, giving the insurer more freedom to expand its business, according to people with knowledge of the matter. The holding … from News – Insurance Journal https://ift.tt/37pBT7J

RSA directors urge shareholders to vote in favour of Intact/Tryg takeover

Shareholders are set to vote on the deal, which would see the UK part of the business sold to Canadian provider Intact, in January. from Insurer - insuranceage.co.uk https://ift.tt/38bMfHx

Citizens to Delay Rate Increases, For Now

Citing a flood of new policies entering Citizens Property Insurance Corp. and a growing disparity between its rates and rising rates of private insurance companies, the board of Florida’s insurer of last resort voted unanimously to postpone final action on … from News – Insurance Journal https://ift.tt/389uFnH

North Carolina Labor Chief Faces Backlash Over Response to New COVID Rules

North Carolina worker and civil rights advocates are unhappy with the outgoing state labor commissioner’s refusal to put more regulations upon employers they say will protect employees from COVID-19. Representatives of the groups that petitioned Commissioner Cherie Berry unsuccessfully this … from News – Insurance Journal https://ift.tt/3aguqKc

Tyson Fires 7 Managers at Iowa Plant Over Betting on COVID-19 Cases

Tyson Foods Inc. said on Wednesday it had fired seven managers at an Iowa pork plant after investigating allegations that they took bets on how many employees would catch COVID-19. The independent investigation, led by former U.S. Attorney General Eric … from News – Insurance Journal https://ift.tt/3gUHO84

Cannabis Broker Spotlight: Balian with Wood Gutmann Focuses on the Long-Term

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for … from News – Insurance Journal https://ift.tt/3r4RDFa

SCA Appraisal in California Promotes Bewley, Napier

Burbank, Calif.-based SCA Appraisal has named Mark Bewley assistant vice president of field operations. SCA Appraisal has also named Nick Napier vice president of operations. Bewley will be responsible for SCA’s national field appraisal operations across insurance carriers, third-party administrators, … from News – Insurance Journal https://ift.tt/2IVjl5V

Cyber Insurers Scale Back as Ransomware Attacks Rise

Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer showed. The total costs … from News – Insurance Journal https://ift.tt/3p0QXPa

New Everest Architects & Engineers Policy Offers PL, Pollution, Cyber Coverage

Everest Insurance has released a new architects and engineers professional liability policy to provide design professionals with professional, pollution and cyber liability coverage. Everest Elevation was developed to address the coverage needs of architectural, design, engineering and construction firms, and … from News – Insurance Journal https://ift.tt/2IVzjwU

Texas Workers’ Compensation System’s Path to Wellness

Since 2003, insurance rates in the Texas workers’ compensation system have dropped by nearly 72 percent, according to a new study released by a research group within the state’s insurance department. In 2003, the Texas workers’ compensation system was in … from News – Insurance Journal https://ift.tt/3mr00HB

Pfizer Vaccine Faces Some Storage, Production, Snowstorm Challenges

The first days of Pfizer Inc.’s COVID-19 vaccine rollout have seen unexpected hitches including some vaccines being stored at excessively cold temperatures and Pfizer reporting potential challenges in its vaccine production, U.S. officials said on a Wednesday press call. At … from News – Insurance Journal https://ift.tt/2K5gbNM

M4.4 Earthquake Confirmed at Hawaii Island Volcano Area

The U.S. Geological Survey confirmed an earthquake struck Hawaii’s Big Island on Monday. The magnitude 4.4 quake was centered about 12 miles southeast of Waimea, Hawaii, at a depth of about 16 miles. The earthquake was located on the flank … from News – Insurance Journal https://ift.tt/3ag10Mj

Marsh Names Hobson as Affinity Leader, International Division, in Newly Created Role

Insurance broker Marsh announced the appointment of Phil Hobson as affinity leader, International Division. Effective Jan. 1, 2021, Hobson will join the International Executive Committee and report to Flavio Piccolomini, president of Marsh’s International Division. He will relocate from Hong … from News – Insurance Journal https://ift.tt/3gT5gm1

UK Insurtech Zego Gets Dutch Broking License, Enabling Post-Brexit Growth in EU

Zego, the London-based fleet and mobility insurance provider, has received a broking license from the Dutch regulator AFM. The license provides a foundation for the company’s continued expansion across Europe, enabling it to work with EU-based insurance partners and customers, … from News – Insurance Journal https://ift.tt/37oYC3V

Virginia City Plants Trees to Slow Flooding Woes

In Ocean Lakes, 100 more trees will soon be popping up in yards throughout the flood-prone neighborhood in southern Virginia Beach, each gifted at no cost from a local environmental group. And in nearby parks and other green areas, dozens … from News – Insurance Journal https://ift.tt/37lvdaN

Freeman Mathis & Gary Hires Santocki as a Partner in its New York City Office

Freeman Mathis & Gary LLP (FMG), a nationwide litigation law firm with 200 attorneys and 19 offices in 10 states, has hired Alicia Santocki as a partner in the New York City office. Santocki also will practice in firm’s offices … from News – Insurance Journal https://ift.tt/2LLnsCV

Tech Firms Form Coalition to Defend Internet Liability Shield Law

A number of internet companies that are not big social media players are organizing to defend the law that shields them from lawsuits. The companies have formed a coalition called Internet Works to protect what they see as the benefits … from News – Insurance Journal https://ift.tt/3r3otq4

Applied Underwriters Forms EU Subsidiary for Specialty Business in Europe, Middle East

Omaha-based insurer Applied Underwriters Inc. announced it has formed Applied Financial Lines Ltd., a new European subsidiary, which will operate from Paris and Cologne. The new company will underwrite several specialty lines, including professional indemnity and directors and officers, in … from News – Insurance Journal https://ift.tt/3npF0lD

Italy’s Banco BPM to Acquire Full Control of Insurance Joint Ventures with Cattolica

MILAN — Italy’s Banco BPM said it would end an insurance partnership with Cattolica by acquiring full control of their joint-ventures, in a move that may ease a mooted tie-up with BPER Banca. Banco BPM said late on Tuesday it … from News – Insurance Journal https://ift.tt/34iG5o9

Global Natural and Manmade Disasters Cost Insurers US$83B in 2020: Swiss Re

Insurance industry losses from natural catastrophes and man-made disasters across the globe amounted to US$83 billion in 2020, making it the fifth-costliest year for the industry since 1970, according to the Swiss Re Institute in its preliminary sigma estimates. Natural … from News – Insurance Journal https://ift.tt/34iHpak

Insuring Cyber Podcast Episode 4: What to Know About Recent Ransomware Advisories

As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the spotlight. Ransomware is a type of malicious software that … from News – Insurance Journal https://ift.tt/3oYzN4U

Lloyd’s and Parsyl launch insurance for distribution of Covid-19 vaccines

Public-private collaboration, including 14 global (re)insurers, addresses critical risks faced by Covid-19 vaccines and other health commodities during distribution from Insurer - insuranceage.co.uk https://ift.tt/3mq34Ur

Curley Associates Acquires Maine’s Robert L. Haley Agency

Curley Associates, an insurance agency based in Sanford, Maine, has acquired Robert L. Haley Agency Inc. of Gray, Maine. The acquisition was effective October 16, 2020. According to Curley, the Gray location will remain open at this time with key … from News – Insurance Journal https://ift.tt/34ltnoC

Directors & Officers Risk Landscape Shaped by Insolvencies, COVID, Activism: Allianz

While the COVID-19 pandemic presents risks for directors and officers (D&O), it is far from the only force these insureds and their insurers will be dealing with in the year ahead. Rising insolvency exposures, growing cyber security threats and persistent … from News – Insurance Journal https://ift.tt/3gQGL94

FCA bares teeth on insurance product value as it launches thematic review

Brokers have just three weeks to respond to the watchdog as it zones in on Covid-19 response, product value and customer service. from Insurer - insuranceage.co.uk https://ift.tt/3mrOcES

North Carolina Insurers File for 18.7% Increase on Dwelling Policies

The North Carolina Rate Bureau, which represents all companies writing property insurance in the state, is seeking an 18.7% statewide average increase in dwelling policies. The North Carolina Department of Insurance said it received the filing for the rate hike … from News – Insurance Journal https://ift.tt/2KpV4p4

The Doan Group of Georgia Adds Crowley as VP of Sales & Operations

The Doan Group, a Woodland Capital Holdings Co., has added Roger Crowley to the company in the role of vice president of Sales and Operations. According to Tim Davis, Jr. of Woodland Capital, Crowley has significant experience at an insurance … from News – Insurance Journal https://ift.tt/34e9wr5

Officials Assess Damage from Tornado Touchdown in Alabama

Weather officials say they’re still assessing the effects of a tornado that touched down in Alabama over the weekend. The National Weather Service said Monday that a storm survey team had found preliminary evidence of a tornado that touched down … from News – Insurance Journal https://ift.tt/3aeBrv5

Neptune Flood Coverage Now Available Nationwide, New Policy System Released

Neptune Flood has expanded its residential products to five more states – Montana, South Dakota, Utah, Vermont, Wyoming, and Washington, DC, completing the company’s nationwide rollout of all residential, commercial and RCBAP flood insurance products. Neptune has also completed the … from News – Insurance Journal https://ift.tt/3oUy9RJ

GEICO’s Massaro Joins BTIS Underwriting Team

Philip Massaro has joined small business intermediary BTIS as vice president of Underwriting. Massaro has 25 years of commercial insurance underwriting and product management experience. Most recently, he was with GEICO as director of Auto and Excess for 20 western … from News – Insurance Journal https://ift.tt/2ISaBgU

Top Performing Auto Insurers During COVID and What’s Driving Customer Behavior

Spurred by a combination of financial hardship, a decrease in miles driven and a general lack of awareness of the historic relief efforts the industry initiated in 2020, auto insurance customer loyalty has given way to a nationwide surge in … from News – Insurance Journal https://ift.tt/3mpURzk

Minnesota Senate Passes $216M Virus Aid Package for Businesses, Workers

The Minnesota Senate has voted on Dec. 14 to pass a $216 million relief package aimed at businesses and workers who took the biggest hit from a four-week “pause” ordered by Gov. Tim Walz as increasing coronavirus cases threatened to … from News – Insurance Journal https://ift.tt/34f3pTq

Joint Louisiana Insurance Committees to Hear About Hurricane Claims, Pandemic

The insurance committees of the Louisiana Senate and House of Representatives will hear about the impact of multiple 2020 hurricanes and the COVID-19 pandemic on insurance rates in a joint meeting on Dec. 16. Presenters include representatives from the Louisiana … from News – Insurance Journal https://ift.tt/3nj6vxn

Georgia Nonstandard Auto Insurer to Assume Business of Troubled Texas Carrier, ACCC

A portion of the personal auto insurance business of a Texas insurance company that appeared to be headed for liquidation at the end of November is being assumed by a Georgia-based insurer. Embark General, headquartered in Atlanta, said it is … from News – Insurance Journal https://ift.tt/2WgloVg

District Attorney Questions Deutsche Bank, Aon Employees Over Trump Organization

Prosecutors from the office of Manhattan District Attorney Cyrus Vance Jr. have interviewed employees of Deutsche Bank and insurance broker Aon as part of their investigation of the Trump Organization, according to people familiar with the matter. The interviews, which … from News – Insurance Journal https://ift.tt/3gW1pon

FDA Appears Close to Approving ‘Highly Effective’ Moderna COVID-19 Vaccine

Moderna Inc.’s COVID-19 vaccine appeared to be set for regulatory authorization this week after U.S. Food and Drug Administration staff members did not raise any major new concerns about it in documents released on Tuesday. The FDA reviewers said a … from News – Insurance Journal https://ift.tt/3mfgSB2

Vermont Hospital Cyber Attack Cost Estimated at $1.5M a Day

A late October cyber attack on the computer systems of the University of Vermont Medical Center is costing the hospital about $1.5 million a day in lost revenue and recovery costs, its CEO said. The Oct. 28 attack crippled the … from News – Insurance Journal https://ift.tt/34e9yj1

Arthur J. Gallagher & Co. Acquires Pennsylvania’s Premier Brokerage Services

Arthur J. Gallagher & Co. has acquired Jenkintown, Penn.-based Premier Brokerage Services Inc. Terms of the transaction were not disclosed. Founded in 1995, Premier is a high-net-worth focused life insurance wholesale agency offering primarily permanent and term life insurance, annuities … from News – Insurance Journal https://ift.tt/3qYbYvE

Boston Insurance Brokerage Hires Gabriel to Healthcare Professional Team

Boston Insurance Brokerage LLC (BIB) has hired Alex Gabriel to its Healthcare Professional Team. He will be working to grow business out of Northern Virginia. Gabriel brings with him more than 15 years of experience spanning brokerage and managing general … from News – Insurance Journal https://ift.tt/37lvzOU

Legacy Specialist Carrick Specialty Holdings Buys UK-Based Community Re

Carrick Specialty Holdings LLC, a New York City-based international non-life legacy business that provides reinsurance and run-off management solutions, announced its UK-based subsidiary, Carrick UK Holdings Co. Ltd., has acquired London-based reinsurer Community Reinsurance Corp. Ltd. from Hampden PLC. Terms … from News – Insurance Journal https://ift.tt/3nnJ5qy

SEC Fines Argo Ex-CEO Watson $450K for Not Disclosing $5.3M in Personal Perks

The Securities and Exchange Commission has fined former Argo Group chief executive officer and president Mark Watson III for his role in the firm’s failure to disclose more than $5.3 million worth of perks and personal benefits. The SEC said … from News – Insurance Journal https://ift.tt/2WeTLvF

Canada Regulator to Allow Insurers, Banks to Pay Some Special Dividends

TORONTO – Canada’s financial regulator said on Monday it could allow institutions to pay special non-recurring dividends under “exceptional circumstances,” even as it maintains a March moratorium on broader dividend increases and share buybacks. The Office of the Superintendent of … from News – Insurance Journal https://ift.tt/2LDA12Z

BI test case Supreme Court judgment expected next year

The FCA has said that no judgment will be handed down before January 2021. from Insurer - insuranceage.co.uk https://ift.tt/3mpQMLv

Philadelphia Insurance Promotes Glomb to CEO; O’Leary Continues as Chairman

Philadelphia Insurance Companies announced that after 38 years with the company, Bob O’Leary will step aside as chief executive officer at the end of the year. President John W. Glomb is being promoted to CEO effective January 1. O’Leary spent … from News – Insurance Journal https://ift.tt/3aeYRQW

Swiss Re Corporate Solutions Authorized in S. Africa to Write Direct Insurance

Swiss Re Corporate Solutions announced it has received a direct insurance authorization from the South African joint regulators Prudential Authority and Financial Sector Conduct Authority. Located in Johannesburg and fully operational, Swiss Re Corporate Solutions Africa offers customers in South … from News – Insurance Journal https://ift.tt/384TWzt

Aon’s $30B Bid for Willis Towers Watson Faces EU Probe: Reuters

BRUSSELS – Aon’s $30 billion bid for Willis Towers to create the world’s largest insurance broker faces a full-scale investigation because of its complexity, two people familiar with the matter said. The companies, which are the second and third-largest brokers … from News – Insurance Journal https://ift.tt/3oOkWcY

Lloyd’s, Insurtech Parsyl Launch Insurance Facility for COVID-19 Vaccine Shipments

Lloyd’s and insurtech start-up Parsyl Inc. announced the launch of the Global Health Risk Facility (GHRF), which will provide billions of dollars of insurance coverage, together with risk mitigation services, to help protect and support the global distribution of COVID-19 … from News – Insurance Journal https://ift.tt/2KmWq3U

CFC updates UK terrorism and sabotage product

The policy now provides cover for loss of attraction and loss of rent or business interruption sustained in the event of a threat of terrorism or sabotage, as well as bodily injury and property damage liability. from Insurer - insuranceage.co.uk https://ift.tt/3nkVxY5

Increases in insolvencies, cyber-attacks and litigation named as top threats for D&Os

AGCS says the pandemic has made the D&O insurance market an increasingly difficult space, with more insolvencies predicted for the first half of 2021. from Insurer - insuranceage.co.uk https://ift.tt/3aaQ5mT

Insurers, Regulators Warn About Safety of Jets Reactivated After Pandemic Storage

SYDNEY – Regulators, insurers and experts are warning airlines to take extra care when reactivating planes left in extended storage during the COVID-19 pandemic, citing potential pilot rustiness, maintenance errors and even insect nests blocking key sensors. The unprecedented number … from News – Insurance Journal https://ift.tt/3nnrMpx

UK Insurer LV= Sells Savings, Retirement Businesses to Bain Capital for $707M

LONDON — Liverpool Victoria Financial Services has agreed to sell its savings & retirement and protection businesses to funds advised by Bain Capital Credit LP for 530 million pounds ($706.54 million), the company said on Tuesday. Under terms of the … from News – Insurance Journal https://ift.tt/38bljYK

German Insurtech Startup Wefox Expects Profitable 2021

BERLIN – German insurance technology startup Wefox expects to achieve revenue of 300 million euros ($365 million) and be profitable at the operating level next year, its founder and CEO, Julian Teicke, said in an interview. In pursuit of that … from News – Insurance Journal https://ift.tt/2KrXuDs

Bipartisan COVID-19 Plan Helps Businesses, Unemployed; Splits State Aid, Liability Shield

A bipartisan group of lawmakers released proposed Covid-19 relief legislation that may provide momentum for breaking a months-long impasse, by separating out coronavirus liability protections and state aid — the two most contentious and partisan items. After Republicans and Democrats … from News – Insurance Journal https://ift.tt/37i6UKQ

California Seeks Court Help With Investigation of Amazon Coronavirus Policies

California Attorney General Xavier Becerra on Monday petitioned a court to force Amazon.com Inc. to comply with outstanding subpoenas over a state investigation into its handling of the coronavirus pandemic. The petition, filed with the Sacramento County Superior Court, accused … from News – Insurance Journal https://ift.tt/3nkFzxp

Insurance Office of America’s Adds Dominguez in Western Region

Insurance Office of America has added Alex Dominguez to its Western region team. Dominguez joins the San Diego, Calif., branch location as a commercial lines producer. He was previously a commercial insurance broker at Rock 10 Insurance Services, and has … from News – Insurance Journal https://ift.tt/2Wijbsk

CopperPoint in Arizona Adds Fox to Lead Pay as You Go

CopperPoint Insurance Cos. in Phoenix, Ariz., has named Joe Fox vice president of the company’s pay as you go business. Fox will be responsible for developing and implementing a new premium payment process for CopperPoint’s pay as you go workers’ … from News – Insurance Journal https://ift.tt/2WgoYie

Suspected Russian Cyber Espionage Has U.S. Government, Businesses Scrambling

The U.S. Department of Homeland Security and thousands of businesses scrambled Monday to investigate and respond to a sweeping hacking campaign that officials suspect was directed by the Russian government. Emails sent by officials at DHS, which oversees border security … from News – Insurance Journal https://ift.tt/2Wg3CS1

Holding a Phone While Driving Will Soon Be Illegal in Virginia

It will soon be illegal in Virginia to hold a phone while driving. WAVY-TV reported that the new state law takes effect in January. Authorities say that making the practice illegal and enforceable is an important step toward reducing deaths … from News – Insurance Journal https://ift.tt/2Lw2RSJ

Vermont’s Union Mutual Insurance Company Promotes Pryce to VP of Claims

The board of directors for Union Mutual Insurance Company voted at their December meeting to promote Jeff Pryce to the role of vice president of claims. The promotion is effective January 1, 2021. Pryce is based in the company’s Montpelier, … from News – Insurance Journal https://ift.tt/34946xy

AM Best Upgrades Credit Ratings of Members of Concord Group Insurance Companies

AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” from “a+” for the members of Concord Group Insurance Companies, which is led by Concord … from News – Insurance Journal https://ift.tt/3a87QmO

Trump EEOC Rule Aims to Slow Workplace Discrimination Lawsuits

The leader of the U.S. workplace anti-discrimination agency is pursuing a policy shift that could slow litigation against companies long after President-Elect Joe Biden takes office. Janet Dhillon, the chair of the Equal Employment Opportunity Commission, has recently circulated a … from News – Insurance Journal https://ift.tt/2WdEjjA

AmTrust International Hires Kiernan and Stroulger as Underwriters in London

AmTrust International, the UK and International arm of New York-based insurer AmTrust Financial Services, Inc., announced two key senior underwriting appointments to its Specialty Team. Dean Kiernan joins the Professional Indemnity Team as a senior underwriter, while Donna Stroulger joins … from News – Insurance Journal https://ift.tt/2Ksfttq

With Economic Damages of $9B, Hurricanes Eta and Iota Topped Off Record Year: Aon

Hurricanes Eta and Iota in November topped off the 2020 Atlantic hurricane season when a record of 12 named storms made landfall in the United States. The two final hurricanes of the season had an economic cost of approximately $9 … from News – Insurance Journal https://ift.tt/383bsUt

Flight Attendants Say United Airlines Quarantine Protocols Are Unsafe

United Airlines is telling some flight attendants whose colleagues test positive for COVID-19 to keep flying and monitor for symptoms, three employees told Reuters, raising concerns among staff about the policy. “Most of us feel that’s unsafe,” said one of … from News – Insurance Journal https://ift.tt/34cHjkx

Impact of Coronavirus on U.S. Economy Could Be $3-$5 Trillion Over 2 Years: USC Study

The COVID-19 pandemic could result in net losses from $3.2 trillion and up to $4.8 trillion in U.S. real gross domestic product (GDP) over the course of two years, a new University of Southern California (USC) study finds. The pandemic’s … from News – Insurance Journal https://ift.tt/381hyon

Tortuous Brexit Trade Talks Get New Breath of Life but Next Few Days Critical

BRUSSELS/LONDON – European Union Brexit negotiator Michel Barnier said on Monday that sealing a trade pact with Britain was still possible before the country’s final break with the 27-nation bloc on Dec. 31 but the next few days of negotiations … from News – Insurance Journal https://ift.tt/34aAtvY

People Moves: 14 - 18 December 2020

It may be nearly Christmas but there are still job moves to announce. from Insurer - insuranceage.co.uk https://ift.tt/3mgncIx

Aon Acquires India’s Anviti Insurance Brokers

Insurer broker Aon has acquired a 49% equity stake in Anviti Insurance Brokers Pvt. Ltd, a fast-growing, composite broking firm in India. Anviti will transition to the Aon brand pending regulatory approvals. Financial details of the deal were not disclosed. … from News – Insurance Journal https://ift.tt/3qTGbvP

Mastercard Loses $18.6B Class Action Court Ruling in UK

Inc. faces the prospect of a 14 billion-pound ($18.6 billion) UK class action — the largest of its kind — after losing another battle at the country’s highest court over illegal swipe fees. The Supreme Court ruled in favor of … from News – Insurance Journal https://ift.tt/3ngwlSN

UK Insurer Aviva to Sell Vietnamese Business to Canada’s ManuLife

British insurer Aviva is to sell its Vietnamese business to Canadian insurer ManuLife it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda Blanc, is looking to sell … from News – Insurance Journal https://ift.tt/3gR8aYz

Kentucky Begins Easing Virus Restrictions on Businesses

Kentucky Gov. Andy Beshear announced Thursday that the state’s restaurants, bars, gyms and other businesses will be able to return to their previous capacity limits starting Monday, Dec. 14. “When we talk about COVID being a fast moving train, it … from News – Insurance Journal https://ift.tt/3a8b8q9

Georgia to Test 800 Schools for Lead in Drinking Water

Georgia is moving forward with plans to test for lead in drinking water at schools and child care facilities. The state Board of Education on Thursday approved hiring Research Triangle Institute for $980,000 to perform the tests using a federal … from News – Insurance Journal https://ift.tt/3nn6o44

Court Nixes Ruling Granting Workers’ Comp Benefits to Family of Slain Alabama Worker

A Jefferson County court erred when it ruled the city of Birmingham should have to pay benefits to relatives of a city worker who was shot to death while cutting grass, the Alabama Court of Civil Appeals ruled Friday. The … from News – Insurance Journal https://ift.tt/3maji3S

South Carolina Renews Wind Pool Territory Expansion

A temporary order extending the area where South Carolina’s residual property insurance market provides insurance has been renewed for another two years. An order issued by South Carolina Insurance Director Ray Farmer says the renewal of the 2007 expansion of … from News – Insurance Journal https://ift.tt/2Wa3zr1

Trump Administration Seeks Medical Privacy Changes

Urged on by hospitals, doctors and patients, U.S. health officials are proposing changes to medical privacy rules that could ease information sharing in crisis situations. Trump administration officials at the Department of Health and Human Services say their proposal, released … from News – Insurance Journal https://ift.tt/3gQKUtJ

Insuring Cannabis Summit: Capacity, Vaping Among Issues in Industry Going Forward

Editor’s note: This is part of a series of articles based on panels and presentations during Insurance Journal’s 2020 Insuring Cannabis Summit on Nov. 19. If there is one big problem in the insuring cannabis space – where issues include … from News – Insurance Journal https://ift.tt/3gL39kc

Supreme Court Agrees to Hear Goldman Stock Price Class Action

The U.S. Supreme Court on Friday agreed to hear Goldman Sachs Group Inc.’s appeal in a securities fraud case that could redefine the ability of shareholders to pursue class actions against public companies whose stock prices fall. Goldman is appealing … from News – Insurance Journal https://ift.tt/3a6heaz

Bipartisan COVID Relief Plan Expected to Put State Aid, Liability Shield in Separate Bill

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi discussed developments on federal funding, including pandemic relief, during a roughly half-hour phone call on Sunday and agreed to speak again on Monday, Pelosi spokesman Drew Hammill said on Twitter. In … from News – Insurance Journal https://ift.tt/3a7xZSR

Q&A - Pen Underwriting's Tom Downey

The CEO of Pen Underwriting discusses the impact of 2020 and looks ahead to a brighter 2021. from Insurer - insuranceage.co.uk https://ift.tt/37dRxD9

Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market

LONDON – A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that give companies and private equity firms cover for when a deal goes wrong, industry officials … from News – Insurance Journal https://ift.tt/3nb8ILg

Chubb Launches Digital Team for Continental Europe and UK & Ireland

Chubb has announced the creation of a new digital team for Continental Europe (CE) and the United Kingdom & Ireland (UK&I). The team has been formed to develop and execute the insurer’s plans to broaden its digital product and service … from News – Insurance Journal https://ift.tt/2JTbZjO

No-Deal Brexit Grows More Likely as UK-EU Trade Talks Remain Deadlocked

Britain is likely to complete its journey out of the European Union in three weeks without a trade deal, British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen said on Friday. Britain quit the EU in … from News – Insurance Journal https://ift.tt/3qOSFor

Family of Pilot Killed Fighting California Wildfire Sues Aircraft Companies

The family of a veteran helicopter pilot who died when his aircraft crashed as he was dropping water over a California wildfire filed suit Wednesday against the companies that designed and maintained the aircraft. Michael Fournier of Rancho Cucamonga, California, … from News – Insurance Journal https://ift.tt/37b1x0a

Woman Abused by Washington Band Teacher Settles for $2M

A school district in Washington state has agreed to a $2 million settlement after a woman sued over sexual abuse by a band teacher 30 years ago – a trauma so profound she said it caused her to stop teaching … from News – Insurance Journal https://ift.tt/2W7bi9i

Global Banks Battle COVID-19 Crime Wave

LONDON — Fraud risk analyst Rajendran Raj was used to the odd out-of-hours alert from authorities, but a call one Saturday in March heralded a new era, of tackling criminals seeking to cash in on coronavirus. A French drugs firm … from News – Insurance Journal https://ift.tt/2ICWtrI

New York Auto Insurance Fraud Ring Busted Following Two-Year Investigation

An enterprise insurance fraud scheme operating in lower Westchester and the Bronx has been taken down following a nearly two-year long investigation. Westchester County District Attorney Anthony A. Scarpino Jr. announced the takedown of Operation Sledgehammer, in which five registered … from News – Insurance Journal https://ift.tt/3gGTTxt

CRC Group Appoints Koehn and Tredway as Co-Presidents of Brokerage Division

Nationwide wholesale insurance broker CRC Group reported that Garrett Koehn and Brent Tredway will be appointed co-presidents of the company’s Brokerage Division effective January 1, 2021. The company said Koehn and Tredway will assume national leadership roles but divide primary … from News – Insurance Journal https://ift.tt/37Ypire

DOXA Establishes Strategic Partnership with Massachusetts’ Century Equity Partners

DOXA Insurance Holdings, an acquirer of specialty niche-focused insurance distribution companies, has established a strategic relationship with Century Equity Partners, a Boston-based private equity firm, in order to support DOXA’s plans for continued growth. The investment sets the stage for … from News – Insurance Journal https://ift.tt/37Vr5xb

MAPFRE Insurance Hires Jensen as Northeast Senior VP of Business Development

MAPFRE Insurance has hired Keith Jensen as senior vice president of Business Development for the company’s Northeast Region. Jensen, who has more than 30 years of experience in the property and casualty insurance industry, will lead business development strategies for … from News – Insurance Journal https://ift.tt/2ICJV3A

Free Shots, Cash Bonus, Firing. Employers Weigh How to Get Employees Vaccinated

U.S. workers could soon face choices such as free COVID-19 shots and a cash bonus if all get immunized, or those unwilling to be vaccinated get reassigned or even lose their jobs. Those options are being studied by businesses hoping … from News – Insurance Journal https://ift.tt/2Ltu6gT

UK Insurtech Startup battleface Raises $12M in Funding from U.S. Venture Capital Firm

UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, announced a $12-million Series A financing round from Drive Capital, a Columbus, Ohio-based venture capital firm. The investment will be used to fund growth and market expansion … from News – Insurance Journal https://ift.tt/2W3ISNt

FDA Expected to Quickly Approve Pfizer’s COVID Vaccine

The U.S. Food and Drug Administration said on Friday it was working rapidly to finalize and issue an emergency use authorization for Pfizer Inc.’s COVID-19 vaccine. A panel of outside advisers to the FDA on Thursday voted overwhelmingly to endorse … from News – Insurance Journal https://ift.tt/3qIvzQF

FCA consults on how best to prove presence of Covid-19

The regulator is asking for comments by 18 January 2021 and says it does not expect this aspect of the BI court case to be affected by Supreme Court BI appeals. from Insurer - insuranceage.co.uk https://ift.tt/34k9gHt

New Capital Entering Market Unlikely to Quickly Soften Rates: Vantage Risk CEO

Greg Hendrick, the CEO and co-founder of the new reinsurance and insurance company Vantage Risk isn’t too concerned about the new capital that has been pouring into the market this year, and its potential to drive down rates – at … from News – Insurance Journal https://ift.tt/3n8K1yV

Cyber Attack on EU Drug Regulator Has Not Disrupted Work on COVID-19 Vaccines

BRUSSELS – The head of the European Union drug regulator said on Thursday the agency’s work assessing COVID-19 vaccines had not been disrupted by a cyber attack that took place in the past two weeks. U.S. drugmaker Pfizer and its … from News – Insurance Journal https://ift.tt/2W5V2W0

Zurich and Farmers Agree to Buy MetLife’s U.S. P/C Business for $3.94 Billion

Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more profitable. Motor and home insurers have had … from News – Insurance Journal https://ift.tt/374Atj0

FSCS begins payments after East West failure

A mystery third party has also offered to make a material financial contribution to the company. from Insurer - insuranceage.co.uk https://ift.tt/3mgNtXj

1 Worker Killed, 3 Injured by West Virginia Chemical Plant Blast

An explosion and fire at a West Virginia chemical plant that shook surrounding homes killed a plant worker and injured three other people. It happened after 10 p.m. Tuesday at Optima Chemicals Co., a tenant on the Chemours property site … from News – Insurance Journal https://ift.tt/37XyufL

COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best

U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the segment to negative from stable in April, … from News – Insurance Journal https://ift.tt/3gFnOGj

Next Insurance Buys Data Firm Juniper Labs to Enhance Workers’ Compensation Offering

Digital small business insurer Next Insurance has closed its first acquisition, buying Juniper Labs, a Denver-based provider of data and underwriting technology. With the acquisition, Next said it will focus on innovation in workers’ compensation and general liability product offerings … from News – Insurance Journal https://ift.tt/3n89YPp

Missouri Construction Company to Pay $38K to Settle Pregnancy Discrimination Suit

A St. Louis, Mo.-based construction company that revoked an applicant’s job offer after learning she was pregnant will settle a federal discrimination lawsuit for $38,000. The U.S. Equal Employment Opportunity Commission (EEOC) says The Harlan Company also will furnish other … from News – Insurance Journal https://ift.tt/376PtNn

Oklahoma Seeking to Make J&J Pay $9.3B to End Opioid Crisis in State

Oklahoma has asked the state Supreme Court to order Johnson & Johnson to pay more than $9.3 billion to cover the entire anticipated cost of combatting the state’s opioid crisis, arguing in its appeal that a lower court’s award wasn’t … from News – Insurance Journal https://ift.tt/2IFzKvi

Uber Asks States to Prioritize Delivery, Rideshare Drivers for COVID Vaccine

Uber Technologies Inc. on Thursday sent letters to the governors of all U.S. states, asking for its ride-hail and food delivery drivers to get early access to COVID-19 vaccines as essential workers. The company also said it will send a … from News – Insurance Journal https://ift.tt/374Nx8b

Fire Guts Historic Church Home to New York’s Liberty Bell

A historic church in lower Manhattan that houses New York’s Liberty Bell and whose congregation dates to the city’s earliest days was gutted by a massive fire that sent flames shooting through the roof. The Middle Collegiate Church in the … from News – Insurance Journal https://ift.tt/3mdEAhb

McGriff Expands Real Estate & Hospitality Practice, Launches Northeast Regional Team

McGriff is expanding its Real Estate & Hospitality Practice with the launch of a Manhattan-based Northeast regional team that includes four hires with industry experience. The new team will grow McGriff’s presence in this market while bringing experience and specialty … from News – Insurance Journal https://ift.tt/37VldEt

Insurers Ink $90 Billion in Merger Deals as They Pursue Post-Coronavirus Clout

Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced … from News – Insurance Journal https://ift.tt/3oF46x9

Arthur J. Gallagher & Co. Acquires New York’s Cool Insuring Agency

Arthur J. Gallagher & Co. has acquired Queensbury, N.Y.-based Cool Insuring Agency Inc. Terms of the transaction were not disclosed. Founded in 1857, Cool Insuring Agency provides commercial, personal, life and health insurance and consulting services to clients across the … from News – Insurance Journal https://ift.tt/2LgTVR2

U.S. Drug Advisory Panel Meets Today on Pfizer’s COVID Vaccine

A panel of outside advisers to the U.S. Food and Drug Administration is meeting on Thursday to weigh whether to recommend that the agency authorize Pfizer’s coronavirus vaccine for emergency use, one of the last steps before vaccinations could begin. … from News – Insurance Journal https://ift.tt/3oCNyGc

Workers With Second Jobs May Be Factor in Nursing Home COVID Risk: Study

Nurses and other long-term care workers in nursing homes who hold multiple jobs may be one of the factors contributing to the spread of COVID-19 in these facilities. According to a new study published in Medical Care Research and Review, … from News – Insurance Journal https://ift.tt/341kujQ

Supreme Court Hears Shareholder Suit over Fannie Mae, Freddie Mac

U.S. Supreme Court justices on Wednesday questioned a bid by shareholders of Fannie Mae and Freddie Mac to pursue legal claims arising from the government’s rescue of the mortgage finance firms following the 2008 housing crisis. The justices heard an … from News – Insurance Journal https://ift.tt/3m715UC

Let Live Thrive highlights event insurance threat

The campaign, alongside EC3 brokers and Hiscox, has written to the Secretary of State for Culture, Media & Sport, calling on the government to underwrite events contingency cover post-Covid. from Insurer - insuranceage.co.uk https://ift.tt/3m4gDJ4

AIG’s Sharpe Named Head of AGCS’ Distribution Unit as Restructure Continues

Allianz Global Corporate & Specialty (AGCS) has appointed Jeremy Sharpe to lead its Global Distribution unit, taking over this role from Patrick Thiels. Thiels will now lead AGCS’s Mediterranean & Africa region, succeeding the current regional managing director, Corinne Cipière, … from News – Insurance Journal https://ift.tt/342a0kh

Fidelis Raises Additional $185 Million of Capital to Support Growth

Fidelis Insurance Holdings Ltd. announced it has raised in the fourth quarter of 2020 an additional $60 million of equity capital from existing and new investor relationships, including Alfa Insurance and affiliated companies with which Fidelis has a long-standing relationship. … from News – Insurance Journal https://ift.tt/2JPlErC

Efma and Accenture Launch 6th Annual Innovation in Insurance Awards

Efma and Accenture are now accepting applications for the sixth annual Efma-Accenture Innovation in Insurance Awards, which recognize insurers and insurtechs that are transforming the insurance industry. Established in 2016, the awards celebrate the most innovative projects and ideas in … from News – Insurance Journal https://ift.tt/3gw8xYt

Royal Caribbean Cruise Cut Short When Passenger Tests Positive for COVID-19

SINGAPORE – An elderly passenger on board a Royal Caribbean “cruise to nowhere” has been diagnosed with the coronavirus, prompting the voyage to be cut short as the vessel returned to Singapore on Wednesday. The 83-year-old guest on board the … from News – Insurance Journal https://ift.tt/3qH3icZ

‘Urgent Action’ Needed to Help Stranded Sailors and Avoid Supply-Chain Risks

Fidelity International is calling for urgent action to address the humanitarian crisis and supply-chain risks caused by the more than 400,000 seafarers who are stranded aboard vessels and a similar number who remain ashore with little prospect for work or … from News – Insurance Journal https://ift.tt/39XnOAd

Why World Bank’s Controversial Pandemic Bonds Didn’t Function as Promised

In late January 2015, just after the deadliest outbreak of Ebola in history, then-World Bank President Jim Yong Kim stood in front of a group of Georgetown University students and professors to introduce a new approach to fighting pandemics. Fresh … from News – Insurance Journal https://ift.tt/2JH60Ph

Credit Suisse Shuts Humbolt Re and Kelvin Re After Investor Withdrawals

Credit Suisse Group AG is winding down two reinsurance vehicles with assets of about $2 billion after key investors moved their funds out. Humboldt Re and Kelvin Re, which use money from institutional clients to reinsure natural catastrophes and other … from News – Insurance Journal https://ift.tt/39VJXPh

Florida Courts Clarify Role of Appraisal in Coverage Claim Disputes

For first party property claims, lengthy and costly litigation is not always the only mechanism for resolving a dispute. Most homeowner’s policies include detailed terms and conditions for parties to undergo appraisal when there is a dispute over the amount … from News – Insurance Journal https://ift.tt/37LvOl8

Explosion at West Virginia Chemours Plant Prompts Shelter-In-Place

An explosion at a West Virginia chemical plant on Tuesday night prompted authorities to order residents within 2 miles of the plant to remain indoors. The explosion occurred at 10:02 p.m. EST at the Chemours plant in the Kanawha County … from News – Insurance Journal https://ift.tt/39UHKnm

GE Settles with SEC for $200M for Over Misleading Power, Insurance Accounting

General Electric Co. has agreed to pay a $200 million penalty to settle charges for misleading investors over how it was generating earnings in its power and insurance businesses, the U.S. Securities and Exchange Commission said on Wednesday. GE’s shares … from News – Insurance Journal https://ift.tt/2W1v7yO

Authorities Target Rise in Road Rage, Aggressive Driving in Houston-Area

Houston-area authorities on Dec. 8 announced a new task force to combat a more than 30% rise in road rage incidents this year, an increase that officials are blaming in part on the ongoing stress during the coronavirus pandemic. The … from News – Insurance Journal https://ift.tt/37Tz6CK

4th Minor Earthquake in 2 Weeks Felt in Kansas

An earthquake rattled Wichita, Kan., on Dec. 8 — the fourth earthquake in the area in the last two weeks. The earthquake had an estimated magnitude of 3.0, the U.S. Geological Survey said. It struck in the morning in east … from News – Insurance Journal https://ift.tt/33WhjtO

Wichita, Kansas, Bar Owners Sue for Return to Pre-Pandemic Rules

Bar owners in Kansas’ largest city are challenging rules designed to slow the spread of COVID-19, hoping to use the courts to overturn a mask mandate, limits on public gatherings and an 11 p.m. closing time for bars and restaurants. … from News – Insurance Journal https://ift.tt/2VXrBp9

LDI: Proof of Loss Deadlines for Hurricane Claims in Louisiana Extended

Property insurance policyholders Louisiana policyholders who need to file hurricane damage claims have an more time than usual to do so under Louisiana law, according to the Louisiana Department of Insurance. In a media release, the LDI said under Louisiana … from News – Insurance Journal https://ift.tt/2JHRwyF

Middle Market Firms May Be Untapped Telematics Opportunity

Middle market business owners may be more interested in vehicle telematics insurance products than their agents realize. Approximately 14 percent of agents surveyed for insurer Nationwide responded that they don’t believe their clients would pay for telematics. At the same … from News – Insurance Journal https://ift.tt/2K7T1WF

Everest Insurance Names Clark Senior VP, Head of Everest Specialty Underwriters

Everest Insurance has named Robert Clark as senior vice president and head of Everest Specialty Underwriters (ESU). Clark will continue to be based in the company’s New York City office, reporting to Everest Insurance President and CEO Mike Karmilowicz. In … from News – Insurance Journal https://ift.tt/3qB7D1v

World Insurance Associates Acquires Connecticut’s The Watts Group

World Insurance Associates LLC (WIA) has acquired The Watts Group LLC of West Hartford, Conn. Terms of the transaction were not disclosed. Founded in 2003 by Mike Watts, The Watts Group is a surety bond and property & casualty agency … from News – Insurance Journal https://ift.tt/33WOT2G

Three Hospitalized After Gas Explosion at Virginia Restaurant

Three people were hospitalized Thursday following a gas explosion in the kitchen of a Virginia restaurant, leaving one of the victims with life-threatening injuries, according to authorities. Crossroads Restaurant in Doswell was closed at the time of the 12:30 p.m. … from News – Insurance Journal https://ift.tt/3lV25v6

How to Address the Next Uninsurable Pandemic — A Black Swan Event

There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with … from News – Insurance Journal https://ift.tt/39TPk1o

New Sirius U.S. Excess & Surplus Unit Begins Writing Environmental Business

Sirius International Insurance Group Ltd. announced its new U.S.-based excess & surplus lines (E&S) platform, called Sirius Specialty Insurance Co. (SSIC), will begin underwriting business produced by the company’s Environmental Division, effective Jan. 1, 2021 Earlier this year, Sirius Group … from News – Insurance Journal https://ift.tt/37N143l

Chubb Launches Enhanced MasterPackage Solution for Life Science Companies in UK

Chubb announced the launch of its enhanced MasterPackage for Life Science Companies product in the UK. This is a comprehensive first and third-party policy designed for companies which develop or provide life science products, solutions or services. The product is … from News – Insurance Journal https://ift.tt/3qC8rTT

Arch Insurance International Renames Barbican Syndicate 1955