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Showing posts from July, 2018

Atos to manage CNA Financial’s IT infrastructure

The two companies partnered to create an industry-leading service model where Atos assumes ownership and the associated risk of modernizing the legacy environment. Delivered predominantly as-a-service, Atos will The post Atos to manage CNA Financial’s IT infrastructure appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2v5nt9u

Thomas Title & Escrow extends Texas footprint

Thomas Title & Escrow president and CEO Frank Busch III said: “As Houston continues to see strong development and growth in its downtown core and surrounding neighborhoods, there The post Thomas Title & Escrow extends Texas footprint appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2KeChHA

AXIS Capital launches new insurtech venture

AXIS Digital Ventures is also charged with introducing innovative enabling technologies across the Company’s businesses. The launch of AXIS Digital Ventures follows the Company’s announcement from earlier this The post AXIS Capital launches new insurtech venture appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2O1zxzt

Aston Lark acquires UK commercial broker Michael James Insurance

Based in Maidstone, Kent, Michael James Insurance caters to the needs of more than 1,000 clients ever since it was established in 1984. The commercial broker has a The post Aston Lark acquires UK commercial broker Michael James Insurance appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2O1shUo

Beazley Launches Consortium at Lloyd’s for Wage & Hour Risks

Beazley has launched a new consortium at Lloyd’s to bring increased capacity for wage & hour risks, expanding the choices available to U.S. organizations. Building on Beazley’s experience in employment practices liability (EPL), and the 2015 launch of Workplace Protect, … from News – Insurance Journal https://ift.tt/2v5Q4ez

Regulators Propose $2.2M Settlement with CSX Over West Virginia Derailment

Federal officials have announced a $2.2 million proposed settlement with CSX Transportation to resolve the company’s liability for water pollution violations stemming from a train derailment that caused an oil spill in West Virginia. The U.S. Environmental Protection Agency, the … from News – Insurance Journal https://ift.tt/2OzyNCX

Texas Petrochemical Contractor to Pay $135K in Disability Suit Settlement

A Texas petrochemical services company that fired three brothers because of a blood disorder that they shared will pay $135,000 to settle a lawsuit filed by federal officials over the firing. Signature Industrial Services LLC in Beaumont has also committed … from News – Insurance Journal https://ift.tt/2v7hi4D

Miami Man Accused of Torching 40 Golf Carts at Beckham Soccer Stadium Site

A 20-year-old man is accused of arson after police say he set fire to a Miami golf course where David Beckham hopes to build a soccer stadium. The Miami Herald reports Carlos Crespo was arrested late Wednesday. Police said around … from News – Insurance Journal https://ift.tt/2vtKO4a

Commentary: How Florida’s Flood Insurance Model Could Work Nationwide

While Congress works on various reforms to the National Flood Insurance Program (NFIP), the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood coverage. Last month in Salt … from News – Insurance Journal https://ift.tt/2LHUAKU

FEMA Grows Its Flood Reinsurance Plan with $500 Million Cat Bond

The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for the first time is directly backed by capital markets investors. FEMA has entered into a three-year reinsurance agreement, effective August … from News – Insurance Journal https://ift.tt/2Kgafez

Atlas General, Accredited Surety to Offer Workers’ Comp Coverage in California

Atlas General Insurance Services, LLC, a national multi-line program administrator, has added an exclusive new workers’ compensation insurance program with Accredited Surety & Casualty Co. Accredited recently expanded its insurance offerings to include workers’ compensation and selected Atlas as its … from News – Insurance Journal https://ift.tt/2KbY3f2

Hite Opens Third Brightway Insurance Franchise in Florida

Josh Hite, owner of Brightway Insurance agencies in Boynton Beach, Fla., and Bluffton, S.C., is the new owner of an agency in Lake Worth, Fla., making him the first Brightway franchisee to own three stores, according to the company. The … from News – Insurance Journal https://ift.tt/2LHNPJ2

Another 2K California Homeowners Eligible for Retrofit Grants

More than 2,000 homeowners will get free money to retrofit their homes to help them better withstand earthquakes, according to the top official at the California Earthquake Authority. The homeowners were on a waiting list for the Earthquake Brace + … from News – Insurance Journal https://ift.tt/2v6Zwyt

Cavignac & Associates in California Names Cortez Professional Liability Account Administrator

San Diego, Calif.-based Cavignac & Associates has named Jasmin Divino Cortez an account administrator within the agency’s professional liability department. Cortez will provide support and assistance to the department’s account executive and account manager. She is responsible for processing endorsements, … from News – Insurance Journal https://ift.tt/2LSS97p

Crest Insurance Acquires Colorado Restaurant Insurance

Crest Insurance Group has acquired Colorado Restaurant Insurance. Colorado Restaurant Insurance will operate as Crest Restaurant Insurance. Sean Pechan will remain president of Crest Restaurant Insurance and the company will maintain its current management team and product offerings. Crest Insurance … from News – Insurance Journal https://ift.tt/2mVWcSi

Ontario forest fire threatening buildings, major highway

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The wildfire in Northeastern Ontario known as Parry Sound 33 has grown to almost 9,000 hectares and is threatening buildings and nearby infrastructure. According to the latest update from Ontario’s Ministry of Natural Resources and Forestry (MNRF), there are currently 41 active forest fires in the Northeast region with 15 of them not yet under control. The most troubling of these is Parry Sound 33 which is now within five kilometres of highway 69, the main thoroughfare through the region. Read: Ontario fire marshal to conduct tests after ‘flame jetting’ injuries and death An evacuation alert has been issued for the Alban area west of high powered hydro lines on highway 64. The northeast and east portions of the fire have spread north and eastward towards the CN line and Pickerel River. Travel restrictions remain in place for parts of Parry Sound and Sudbury. The Northwest region of the province also continues to struggle with an active fire season. Nine new fires were confimed ...

India: PNB MetLife India Insurance applies for IPO

PNB MetLife India Insurance, which is among India's top 10 life insurers by market share, has filed a draft prospectus with the Securities and Exchange Board of India (SEBI), to launch an initial public offering. from Recent Posts on (eDaily) https://ift.tt/2M8B8mK

China: Hong Kong to gain as risk management hub with preferential status

A recent agreement that gives qualified reinsurers in Hong Kong preferential regulatory treatment over offshore reinsurers is expected to boost Hong Kong's standing as a risk management hub in Asia providing reinsurance capacity and expertise, according to a new A.M. Best briefing. from Recent Posts on (eDaily) https://ift.tt/2LGlPFH

New Zealand: Thousands of e-bike & drone owners could fall outside insurance umbrella

An analysis of home contents policies in the insurance market has found significant complexity and variation in the policy wording -- leaving many e-bike and drone owners unexpectedly without cover for loss, damage or third party liability, according to NZbrokers, one of New Zealand's largest insurance brokerage groups. from Recent Posts on (eDaily) https://ift.tt/2M6MV4S

South Korea: Samsung Life stands ground on annuity payout

Samsung Life Insurance, South Korea's largest life company, has said that it will partly compensate about 55,000 clients of its immediate payment annuities despite the financial watchdog advisimg the insurer to guarantee minimum returns for contracts. from Recent Posts on (eDaily) https://ift.tt/2LGlnY1

Philippines: At least B+ credit rating needed for pension fund's reinsurers

State run Government Service Insurance System (GSIS) now requires a minimum credit rating of B+ for reinsurers interested in taking part in the pension fund's tender exercise for reinsurance contracts. from Recent Posts on (eDaily) https://ift.tt/2M5mbl4

Attacks on cloud-based email programs continue to rise: Beazley data

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Attacks targeting business email accounts continued to climb in the second quarter of 2018, according to data from specialist insurer Beazley. Hardest hit were organizations using Office 365, the popular cloud-based productivity solution. Read: Marsh appoints Global Head of Cyber Risk Consulting Email compromises accounted for 23% of incidents reported to the Beazley Breach Response (BBR) Services team during the second quarter of 2018. The attacks were broadly distributed across industry sectors. According to the company, business email compromises are efficient for the hacker because the compromise of a single account gives the hacker a platform from which to spear phish within and outside the organization. They have soared in popularity since the beginning of last year, says Beazley. Read: Cyber risks “much more than just privacy risks”: CIP Society Symposium The company points out that although potentially very damaging, with costs that can exceed $2 million, attacks of t...

Senate Agrees with House to Renew Flood Insurance Program for 4 Months

Congress avoided a lapse in the federal flood insurance program when the Senate today voted to extend authorization for the program four months to Nov. 30. The National Flood Insurance Program would have expired at the end of today had … from News – Insurance Journal https://ift.tt/2KfKD1z

Podcast: KHN’s ‘What The Health?’ Let’s Talk Politics

ProHost Launches Wine Valuation Endorsement for Restaurant Wine Collections

ProHost USA, a national program administrator specializing in restaurant insurance, is rolling out a property insurance coverage valuing bottled wine at its selling price rather than at replacement cost. The new endorsement will give restaurants the advantage of covering the … from News – Insurance Journal https://ift.tt/2AqcegK

Lockton to Administer Attorney Protective Lawyer Program in the East

Lockton Affinity will be the exclusive administrator for Attorney Protective’s Professional Liability Insurance Program for attorneys in Washington D.C., Maryland and Virginia. The Attorney Protective program was developed to protect attorneys, their reputation and assets. The program is administered by … from News – Insurance Journal https://ift.tt/2NZPLZY

Possible Tornado Damages Homes Along Georgia Coast

Emergency officials say a possible tornado has left a trail of damage on the Georgia coast. No injuries were reported after a funnel cloud was spotted Friday afternoon on Whitemarsh Island, east of Savannah. The Chatham County Emergency Management Agency … from News – Insurance Journal https://ift.tt/2KftRzE

Flood Insurance Uptake Rates Rise in Texas Following Harvey

Little more than two months before Hurricane Harvey slammed the Gulf Coast of Texas, Alberto Castaneda let his home’s flood insurance lapse. He had never filed a claim on the policy in 10 years and he needed the extra cash … from News – Insurance Journal https://ift.tt/2AyqOmm

Midlands Management Enters Oklahoma Marijuana Insurance Market

Oklahoma City-based wholesale insurance broker and program manager, Midlands Management Corp., has introduced comprehensive coverage for the marijuana industry in Oklahoma. The Midlands program offers products liability, general liability, professional liability, excess liability and more for all segments of the … from News – Insurance Journal https://ift.tt/2M8jy1Y

Alliant Adds Morris as Sr. VP, Employee Benefits, in New Orleans

Alliant Insurance Services, based in Newport Beach, California, has added Brett Morris in New Orleans as senior vice president in the company’s Employee Benefits Group. Prior to joining Alliant, Morris was senior vice president with a large regional insurance and … from News – Insurance Journal https://ift.tt/2AulT6e

Nationwide Invests in Online Business Financing Startup BlueVine

Nationwide said it is making a new venture-capital investment in BlueVine, a provider of online working capital financing for small- and medium-sized businesses. The BlueVine announcement is part of Nationwide’s commitment to invest more than $100 million of venture capital … from News – Insurance Journal https://ift.tt/2NZ4lAZ

Ohio Chipotle Restaurant Closed After Reports of Illness

Chipotle Mexican Grill Inc. has shut a restaurant in Ohio following reports of customers falling sick after eating there, the burrito chain said on Monday. At least two customers wrote on food safety website iwaspoisoned.com that they suffered nausea and … from News – Insurance Journal https://ift.tt/2AsH8VV

Texas Countertop Maker Faces $318.6K in Fines for Workplace Hazards

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Tyler, Texas-based Berry Marble Company Inc. – doing business as U.S. Granite – for exposing employees to machine hazards. The natural stone countertop manufacturer faces $318,687 in … from News – Insurance Journal https://ift.tt/2LEO33E

Kansas Grain Bin Operator Contests Citations, $500K in Penalties for Worker Deaths

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Gavilon Grain LLC – operator of a grain bin based in Wichita, Kansas – after two workers were fatally engulfed in a soybean storage bin. The company … from News – Insurance Journal https://ift.tt/2LO4ObM

$100M Lawsuit Filed in Fatal Missouri Duck Boat Sinking

The owners and operators of a tourist boat that sank this month in Missouri, killing 17 people, put profits over people’s safety when they decided to put the Ride the Ducks boat on a lake despite design problems and warnings … from News – Insurance Journal https://ift.tt/2AqcAUF

Suit Filed Against Escalator Manufacturer over Utah Child Who Lost 2 Fingers

A 3-year-old Utah girl had two fingers amputated when they were caught in a faulty grocery store escalator, her family says in a lawsuit filed against the store and the escalator manufacturer. The girl’s mother, Silvia Zamora , said in … from News – Insurance Journal https://ift.tt/2Kjqw2I

Judge Allows Suit Against Crow Nursing Home in Montana to Proceed

A federal judge is allowing a woman to proceed with a lawsuit that claims the Crow tribe’s nursing home leaders in Montana conspired to fire her for reporting that a patient had been molested. Tammy Wilhite is a former nurse … from News – Insurance Journal https://ift.tt/2vm5bjr

Damage in Colorado from Severe Storm Could Include Possible Tornadoes

Trees and power lines are knocked over and small planes are flipped upside down after a severe storm, which including tornado sightings and hail, moved across the plains of northeastern Colorado. A team from the National Weather Service is in … from News – Insurance Journal https://ift.tt/2LBP1O1

Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources

Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. The review, coming after a … from News – Insurance Journal https://ift.tt/2LHhMbS

Broker Ed Appoints Jordan from Lloyd & Partners as Divisional Director, Marine

Ed, the global reinsurance, wholesale and specialty broker, today announced the appointment of Patrick Jordan as divisional director, Marine. Based in London, he takes up his role with immediate effect and reports to Heather Clarkson, managing director, Marine. Jordan brings … from News – Insurance Journal https://ift.tt/2vrKIKm

The corporate climb: Stalled progress for women in Canadian C suites

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Note: Don’t miss the August issue of Canadian Insurance Top Broker for a special Women In Insurance feature: a profile of Marsh Canada’s new CEO, Sarah Robson. TORONTO _ None of Canada’s TSX 60 companies were headed by a woman and two-thirds did not include a single woman among top earners during their latest fiscal year, reveals a Canadian Press analysis of corporate Canada’s highest ranks. Read: Surprising findings about women in insurance Despite pressure to improve gender equality in Canadian workplaces – and a myriad of initiatives and corporate pledges to boost female representation – top-earning women continue to be paid less than their male counterparts, while the number holding the powerful management roles of chief executive officer and chief financial officer has shrunk compared to five years ago. Among the companies on the TSX 60 index, a cross-section of the largest and most heavily-traded Canadian stocks, none listed a woman as its chief executive officer in its most ...

Northern California Wildfires Threaten 10,000 Homes

A pair of wildfires tearing through vineyards and brushy hills threatened some 10,000 homes in Northern California on Tuesday. The two fires straddling Mendocino and Lake counties had burned seven homes by Monday night along with some 107 square miles … from News – Insurance Journal https://ift.tt/2M3wKoN

Manulife joining Shoppers Drug Mart in medical marijuana program

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WATERLOO, Ont. _ The Manulife Financial insurance company says it will launch the first medical marijuana program in Canada this fall in conjunction with Shoppers Drug Mart. Manulife says the program will be available as an option for participating group and individual health insurance plans. Read: Cultivating medical cannabis at home Under the partnership, Shoppers Drug Mart pharmacists at an Ontario-based patient care centre will help approved customers navigate the different strains of medical marijuana and the different ways to take it. Manulife customers will then be able to choose treatment that is covered under their Manulife plan and receive ongoing case management. Read: One in five millennials think they drive same or better when high: BCAA survey The insurance company – which was already offering medical cannabis coverage to clients on a selective basis – says more details of the program with Shoppers will become available once the program takes effect. “Manulife’...

Court to Revisit Dismissal of $210 Million Hyundai-Kia Fuel Economy Settlement

A U.S. appeals court will reconsider its decision to throw out a $210 million nationwide class-action settlement for owners of Hyundai Motor Co. and Kia Motors Corp. vehicles whose fuel economy was inflated. The 9th U.S. Circuit Court of Appeals … from News – Insurance Journal https://ift.tt/2KclW6g

Business Email Attacks on the Rise; Office 365 Users Hardest Hit: Beazley

Attacks targeting business email accounts continued to climb in the second quarter. Hardest hit were organizations using Office 365, the popular cloud-based product, according to data released by specialty insurer Beazley. Email compromises accounted for 23 percent of incidents reported … from News – Insurance Journal https://ift.tt/2Or9pzb

Lawsuit Says Equipment Led Delaware Firefighter to Fall from Helicopter

A lawsuit charges that improper equipment led a Delaware firefighter to fall to his death from a helicopter during a 2016 training exercise. The News Journal of Wilmington reported that firefighter Timothy McClanahan’s family filed the lawsuit this month. The … from News – Insurance Journal https://ift.tt/2KdxXs0

Maryland Hits Record-High Drug Deaths, Fueled by Fentanyl

Maryland, a state that already had one of the country’s most punishing overdose mortality rates, notched a record-high number of drug deaths last year. The grim milestone was fueled by an alarming increase of fentanyl-related fatalities. Despite renewed efforts to … from News – Insurance Journal https://ift.tt/2Kj2zIQ

Boy’s Death During Boating Safety Lesson in New York Results in New Law

A Long Island county where a 12-year-old boy died during a boating safety lesson now has a new law aimed at preventing such tragedies from happening again. Newsday reports that Suffolk County Executive Steve Bellone signed Ryan’s Law on Saturday … from News – Insurance Journal https://ift.tt/2OxSxa7

India Weighs Comprehensive Data Privacy Bill, Similar to EU’s GDPR

A draft of a sweeping data privacy bill has been submitted to India’s government that, if enacted, will restrict the transfer and storage of information on more than 1 billion people by global technology corporations from Facebook Inc. to Google. … from News – Insurance Journal https://ift.tt/2KaJA2N

Travelers Seeks Review of Court Ruling on Crime Insurance and Loss Involving Email Fraud

Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime insurance policy’s computer fraud clause covered a loss due to money transfer involving fraudulent emails. In seeking an en banc … from News – Insurance Journal https://ift.tt/2voP0SD

Hanover Hires Munich Re’s Cernak to Head Cyber Practice

The Hanover Insurance Group, Inc. has appointed Eric C. Cernak has the head of its cyber practice. In this role, Cernak is responsible for overseeing corporate cyber strategy across all of its commercial lines and specialty businesses, to ensure a … from News – Insurance Journal https://ift.tt/2O0MxFN

No pressure to grow GWP, says Sabre’s Geoff Carter

CEO stresses focus on combined operating ratio. from Insurer - insuranceage.co.uk https://ift.tt/2n0hxKs

Some Doctors, Patients Balk At Medicare’s ‘Flat Fee’ Payment Proposal

Hong Kong Insurer FWD Group Eyes Singapore Listing

Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the matter said. FWD is discussing with advisers the … from News – Insurance Journal https://ift.tt/2vkFbFf

AXIS Launches AXIS Digital Ventures to Accelerate Innovation via InsurTech Partners

AXIS Capital Holdings Ltd. announced the launch of AXIS Digital Ventures, a new unit that will lead enterprise-wide efforts to partner with insurtech companies that focus on high value re/insurance applications, new product opportunities and new distribution and re/insurance business … from News – Insurance Journal https://ift.tt/2mW3ohj

UK Retailer Dixons Carphone Reveals 2017 Cyber Attack Hit 10 Million Data Records

British electricals and mobile phone retailer Dixons Carphone said on Tuesday that about 10 million records containing personal data of customers may have been obtained in a cyber attack in 2017, much higher than its earlier estimates. The company, which … from News – Insurance Journal https://ift.tt/2LCVyYA

Sabre profits rise at start of 2018

Half year GWP remains stable. from Insurer - insuranceage.co.uk https://ift.tt/2LFae9B

Markerstudy appoints Dan Fiehn as chief operating officer

Fiehn takes newly created role after joining the provider in 2011 as head of IT. from Insurer - insuranceage.co.uk https://ift.tt/2NYT9Ef

Ryan Specialty Group to buy certain assets of ARC’s P&C business

ARC Specialty is the P&C Division of ARC, which is a New York-based specialty wholesale insurance broker. Ryan Specialty Group said that following the completion of the deal, The post Ryan Specialty Group to buy certain assets of ARC’s P&C business appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2v2iBlu

Supreme Court Lets Teens’ Climate Lawsuit Proceed to Trial

The U.S. Supreme Court refused to halt a novel and sweeping lawsuit pressed by children and teenagers seeking to force the federal government to take steps against climate change. Rejecting a Trump administration request, the high court let the case … from News – Insurance Journal https://ift.tt/2mWue95

Uber Halts Driverless Truck Manufacturing to Focus on Cars

Uber will stop developing self-driving trucks that have been hauling cargo on U.S. highways, the ride-hailing company said on Monday, seeking to focus its autonomous-vehicle technology solely on cars. Through its acquisition of Otto in 2016, Uber had sought to … from News – Insurance Journal https://ift.tt/2AnQ6Uv

1 Arrested, Second Suspect Sought in Georgia Roofing Insurance Fraud Scheme

Fraud investigators with the Georgia Department of Insurance have arrested a Columbus, Ga., roofing contractor and issued warrants on his employer for intentionally vandalizing the roofs of two homes in Muscogee County, according to a statement from Georgia Insurance Commissioner … from News – Insurance Journal https://ift.tt/2ArLA7k

Arch Capital to Open Headquarters in North Carolina

Arch Capital Group Ltd. (ACGL), a globally diversified financial services group providing insurance, reinsurance and mortgage insurance, will open an operational hub in Raleigh, N.C., and create 365 new jobs over four years, according to a statement from North Carolina … from News – Insurance Journal https://ift.tt/2M4Vc9n

Frontline Insurance Secures First Cat Bond of $350M for Southeast Storms

Swiss Re Capital Markets has structured and placed the issuance of $350 million of insurance-linked securities by Frontline Re Ltd. on behalf of Frontline Insurance. The transaction is Frontline’s debut catastrophe bond and covers named storms in Alabama, Florida, North … from News – Insurance Journal https://ift.tt/2Ki2aX6

Insurer Settles Suit Over Toddler Death in Hot Oregon Apartment for $100K

An insurance company for a Portland apartment complex has agreed to pay $100,000 to settle a lawsuit filed by the mother of a 2-year-old girl who died in her bedroom after a heater malfunctioned. In a lawsuit that had sought … from News – Insurance Journal https://ift.tt/2v85SxN

Vietnam: Tech pushes motor insurers onto fast and furious track

Vietnam's motor insurers are still grappling with getting the basics right - but already they are being forced to get to grips with AI, cyber and telematics, according to Association of Vietnamese Insurers deputy secretary general Ngo Trung Dung. from Recent Posts on (eDaily) https://ift.tt/2NSKMdB

Japan: Insurance giant eyes expanding nursing care business across Asia

A major general insurance company in Japan is considering expanding its nursing care business across Asia to respond to the rapid aging of populations in the region -- a move that is expected to boost the number of workers in the industry. from Recent Posts on (eDaily) https://ift.tt/2LNAo9n

India: Insurers do a check of staff canteens to reduce health-related claims

Insurance companies in India are conducting audits of workplace cafeterias and proposing changes to reduce claims related to gastroenteritis, colitis and heart related ailments under group mediclaim policies. These audits are being done as part of wellness programmes, industry executives said. from Recent Posts on (eDaily) https://ift.tt/2K8y882

China: Losses continue in 2Q for Shanxi-based insurer

China Coal Insurance, a general insurer, has posted losses of more than CNY41.37m ($6.1m) for the second quarter of this year, according to the company's 2Q2018 solvency report filed with the Insurance Association of China. The insurer made a net profit of CNY9.6m for the first quarter of this year. from Recent Posts on (eDaily) https://ift.tt/2v0cj5O

Australia: Life insurers wary of national health database

Life insurers are cautious as to the merits of My Health Record, a national personal health database, and its potential implications for the industry. from Recent Posts on (eDaily) https://ift.tt/2NYjL8F

Harvey Weinstein’s insurers balk at paying his legal bills

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NEW YORK _ Harvey Weinstein is locked in a messy battle with insurance companies over his steadily mounting legal bills. The insurance giant Chubb and other carriers that wrote liability policies for Weinstein and his film company are arguing in court that they shouldn’t have to pay for his defence against allegations of rape and sexual harassment. Read: Sexual harassment, cannabis are top legal risks in Canada this year: BLG The policies, they have written in court filings, specifically excluded coverage for “such blatantly egregious and intentionally harmful acts.” “Mr. Weinstein has nevertheless repeatedly attempted to foist his defence of these lawsuits upon the plaintiff insurers,” lawyers for the companies wrote. Weinstein’s legal team, which denies that he assaulted any of his dozens of female accusers, has shot back that the insurers are trying to weasel out of their obligations and have unfairly sided with the accusers. Read: Coaches, players, volunteers increas...

Harvey’s devastating flooding boosts insurance in Texas

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KATY, Texas _ Little more than two months before Hurricane Harvey slammed the Gulf Coast of Texas, Alberto Castaneda let his home’s flood insurance lapse. He had never filed a claim on the policy in 10 years and he needed the extra cash to expand his restaurant business. Standing inside his suburban Houston home nearly a year later, Castaneda tallies the cost of the destructive floods to himself and his uninsured neighbours: one couple in their 70s let their home go into foreclosure; two people, overwhelmed by the difficulties of rebuilding, committed suicide; Castaneda, 52, ended up using nearly $135,000 from his business to cover repairs to his home that Harvey submerged under more than 2 feet (60 centimetres) of water. Read: Studies: Warming made Harvey’s deluge 3 times more likely “It’s very devastating, especially if you don’t have the insurance. You feel like, ‘What am I going to do?”’ Castaneda tearfully explains. Castaneda bought new flood insurance after Harvey, and ma...

Michigan State Stops Victim Payments, Sues Insurers Over Nassar Claims Coverage

Michigan State University has halted payments from a $10 million fund it set up for counseling services for victims of now-imprisoned former sports doctor Larry Nassar amid concerns about possible fraudulent claims. It also has filed suit against 13 insurance … from News – Insurance Journal https://ift.tt/2mVf6sB

Higginbotham, Sellers-Patterson Insurance Merge Operations in Tyler, Texas

Higginbotham and Sellers-Patterson Insurance have merged operations in Tyler, Texas. Sellers-Patterson, led by Linda Sellers, is Higginbotham’s second office in Tyler; the first established in 2014 when Higginbotham entered the market. The union gives the combined firm a local workforce … from News – Insurance Journal https://ift.tt/2LB1z8o

CryptoKitties: Are blockchain Beanie Babies the future of e commerce or a fad?

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VANCOUVER _ At first glance, CryptoKitties are googly-eyed virtual cats that come in an array of fanciful forms – from fluffy ninjas, to feline-duck hybrids. But don’t underestimate these collectible critters, because some CryptoKitties have commanded six figures on the virtual market, and the B.C.-based company behind the project says it’s attracted more than US$12 million in investments. Read: Marsh launches blockchain pilot project for proof of insurance And depending on whom you ask, the blockchain-based game is either a sign of where the digital economy is heading, or just another crypto-craze fuelled by the internet’s cat obsession. For Vancouver-based developer Axiom Zen, it all began with a simple idea, said CryptoKitties communications director Bryce Bladon. “Let’s put cats on the blockchain,” Bladon recalled a fellow CryptoKitties co-founder saying. And that, more or less, is what they did. Read: Blockchain will change the role of insurance brokers: CIP Societ...

Lopata to Take Over as President, CEO at Farmers Alliance Companies

Brian D. Lopata has been named president and chief executive officer for McPherson, Kansas-based Farmers Alliance Companies, effective Aug. 27, 2018. As president and CEO, Lopata will have day-to-day responsibility for all functional areas of the companies, working directly with … from News – Insurance Journal https://ift.tt/2v14Cw3

LWC’s Office of Workers’ Comp Administration Adds Lee as Fraud Manager

Darrick Lee, a licensed attorney in both Louisiana and Texas, has been appointed fraud manager in the Office of Workers’ Compensation Administration (OWCA) at the Louisiana Workforce Commission. Lee has 13 years of civil service experience. Prior to this appointment, … from News – Insurance Journal https://ift.tt/2LOonRb

Feds Approve Waiver for Wisconsin for Health Reinsurance Program

The federal government has granted Republican Gov. Scott Walker’s request to offer a reinsurance program designed to lower premium rates for most people in the individual market in 2019. The federal waiver will allow Wisconsin to offer a $200 million … from News – Insurance Journal https://ift.tt/2K8CQm6

Wisconsin Refinery Damaged by Explosion, Fire Expects 2020 Restart

A Wisconsin refinery damaged by an explosion and fire earlier this year is not expected to resume operations until 2020. WDIO-TV reports Canada-based Husky Energy said in its second-quarter earnings statement Thursday that the refinery in Superior, Wisconsin, is not … from News – Insurance Journal https://ift.tt/2LOobRX

Oklahoma Quake Lawsuit Against Oil Company Moves to Class-Action Status

Central Oklahoma residents won’t get a trial this fall for a case against an oil company accused of triggering earthquakes that damaged homes and buildings. The Journal Record reports that a Cleveland County judge outlined rules for the class-action case … from News – Insurance Journal https://ift.tt/2NTtyNc

California Supreme Court: Starbucks, Others Must Pay Workers for Off Clock Work

Starbucks and other employers in California must pay workers for minutes they routinely spend off the clock on tasks such as locking up or setting the store alarm, the state Supreme Court ruled. The unanimous ruling was a big victory … from News – Insurance Journal https://ift.tt/2LNryIQ

Hearst Joins Lockton as Construction Leader in the Mountain West Region

Insurance broker Lockton has added Brian Hearst as senior vice president and construction manager for the Mountain West region. Hearst has nearly 30 years of experience in construction broking, underwriting, risk management and claims. He started his insurance career with … from News – Insurance Journal https://ift.tt/2K8KCwx

Northern California Wildfire Rages; More Deaths, Evacuations Reported

Thousands of dazed evacuees struggled to keep their emotions in check while trying to take care of themselves and their pets as a deadly wildfire in Northern California raged into its fourth day. Anna Noland, 49, was evacuated twice in … from News – Insurance Journal https://ift.tt/2mW0IQO

Ontario fire marshal to conduct tests after ‘flame jetting’ injuries and death

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TORONTO _ The Ontario fire marshal’s office says it will conduct tests this fall to better understand how hand-held fuel containers could ignite and inadvertently become flame-throwers when used around products like ethanol-fuelled lamps and recreational fire pits. The analysis comes as the office said it has noted four incidents in the last six years where the phenomenon – known as flame jetting – has occurred, leaving people with horrific injuries and, in one case, killing a woman. Listen: Product recalls are on the rise. Find out why in this podcast “The impact of the injuries and fatalities are extreme on the people who are directly involved or in the area when it happens,” said Jeff Tebby, a supervisor with the quality assurance and risk management unit at the Office of Ontario’s Fire Marshal, which conducts fire investigations and provides fire safety guidelines in the province. The office’s testing will look at the factors behind flame jetting, and will eventually result in ...

Hiscox predicting cyber and security policies expansion in 2018

SME remains a growth “engine” for the provider. from Insurer - insuranceage.co.uk https://ift.tt/2K7sPWg

#insagepeople 30 July - 3 August 2018

Stay up to date with the latest people moves. from Insurer - insuranceage.co.uk https://ift.tt/2LwsX7g

Student Hit in Eye by Baseball Sues New Hampshire’s Dartmouth College

A Dartmouth College student who was seriously injured during baseball practice is suing the Ivy League school. In a lawsuit filed Thursday, Colton French said he was pitching to a batter in a narrow indoor area enclosed by netting in … from News – Insurance Journal https://ift.tt/2LAj74f

RSG to Acquire Certain Assets of New York’s ARC Specialty Brokerage

Ryan Specialty Group LLC (RSG) and ARC Excess & Surplus LLC (ARC) have entered into a definitive agreement in which RSG will acquire certain assets of ARC Specialty Brokerage LLC, the P&C Division of ARC, a wholesale insurance brokerage based … from News – Insurance Journal https://ift.tt/2mTzwlA

City Council Aims to Make New York First U.S. City to Cap Uber, Others

New York City is moving toward becoming the first major U.S. municipality to cap ride-sharing services, sparking a tsunami of protest on Friday from Uber and others, which warned that those living in far-flung neighborhoods will suffer most. The City … from News – Insurance Journal https://ift.tt/2OqI6F4

AGCS Taps AIG’s Davì-Greer as Regional Head of Financial Lines

Allianz Global Corporate & Specialty (AGCS) has appointed Stefania Davì-Greer to head of Financial Lines for Regional Unit London (RUL). Based in London, Davì-Greer will join in October with responsibility for the strategic direction and management of AGCS’ financial lines … from News – Insurance Journal https://ift.tt/2M0LXa6

Flood Insurance Will Lapse If Senate Does Not Act

There is not a lot time left to avoid a lapse in the federal government’s flood insurance program. The Senate is expected to follow the House, which voted last week to temporarily reauthorize the program. Senate Majority Leader Mitch McConnell … from News – Insurance Journal https://ift.tt/2LLqMMA

Where Oil Prices Meet Trucker Fatalities: ‘Death Highway’

Route 285 is the formal designation for one of the main roads used to carry supplies to and from the oilfields of West Texas. Locals call it something else: “Death Highway.” Last year, 93 people died in accidents involving trucks … from News – Insurance Journal https://ift.tt/2Kcx0QC

Malaysia Airlines Flight 370 Was Likely Steered Off Course Deliberately: Report

Malaysia Airlines Flight 370, missing since 2014, was probably steered off course deliberately and flown to the southern Indian Ocean, according to the Malaysian government’s safety report into the disaster. MH370 vanished on March 8, 2014, en route to Beijing … from News – Insurance Journal https://ift.tt/2LNzFVJ

Andy Watson appointed as ABI General Insurance Council chair

The Ageas UK CEO replaces Amanda Blanc who has taken up the chair post at the ABI. from Insurer - insuranceage.co.uk https://ift.tt/2NVbYrU

Strong Earthquake Hits Indonesia’s Lombok Island, Killing at Least 14 People

A strong and shallow earthquake early Sunday killed at least 14 people and injured more than 160 on Indonesia’s Lombok island, a popular tourist destination next to Bali, officials said. The quake damaged more than 1,000 houses and was felt … from News – Insurance Journal https://ift.tt/2LyusCa

Chubb Partners with DynaRisk to Offer Cyber Loss Mitigation Service in UK, Ireland

Chubb has partnered with cyber security company DynaRisk to offer a cyber loss mitigation service to Chubb’s Cyber Enterprise Risk Management policyholders in the UK and Ireland. The DynaRisk service assesses a person’s devices and digital footprint to provide a … from News – Insurance Journal https://ift.tt/2NSF0IW

French Insurer CNP Declines to Comment About Merger Speculation

French insurer CNP, which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. CNP’s first-half net profits rose 2.3 percent to 672 million euros ($783.55 million). Excluding the effects … from News – Insurance Journal https://ift.tt/2NW9Q3c

Tropical Storm Hits Japan, Heads for Region Still Recovering from Floods

A tropical storm in Japan disrupted transportation and knocked out power to thousands of homes in its path as it headed west toward a region still recovering from devastating rains earlier this month. At least 16 people have been injured, … from News – Insurance Journal https://ift.tt/2LX2jka

Hiscox posts rising premium and profit for start of 2018

Insurer planning for “muted” growth from brokers. from Insurer - insuranceage.co.uk https://ift.tt/2OtiwiM

Higginbotham, Sellers-Patterson Insurance merge operations in Tyler, Texas

Sellers-Patterson Insurance has brokered insurance products for small to large employers and individuals for over 20 years in Tyler, Texas. According to Higginbotham, the merger enables the combined The post Higginbotham, Sellers-Patterson Insurance merge operations in Tyler, Texas appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2mUpCjS

Jury Awards IBM $83 Million in Closely-Watched Patent Dispute with Groupon

A U.S. jury last Friday awarded International Business Machines Corp. $83 million in a patent dispute with e-commerce company Groupon Inc. A jury in Delaware said Groupon used IBM’s patented e-commerce technology without authorization following a two-week trial. “IBM invests … from News – Insurance Journal https://ift.tt/2vf885h

Jury Awards $1.25 Million in University Harassment Case But Denies Retaliation Claim

A jury awarded $1.25 million to a former Columbia University finance professor whose senior colleague sent dozens of emails disparaging her to industry professionals after she lodged a harassment complaint against him. The verdict is a fraction of the $16 … from News – Insurance Journal https://ift.tt/2LyAanz

First Facebook Investor Suit Filed Over Plunge in Shares

Facebook Inc. and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth. … from News – Insurance Journal https://ift.tt/2vfKKER

Security First Insurance Co. Enters Florida’s Growing Private Flood Market

A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First Insurance Co. has launched an optional … from News – Insurance Journal https://ift.tt/2LN4R7D

350 People Sickened by Norovirus at Kentucky Mall Food Court

The food court illness that sickened 350 people in Kentucky has been identified as norovirus. Citing a Lexington-Fayette County Health Department release, the Lexington Herald-Leader reports that test results from those who had gone to the Fayette Mall food court … from News – Insurance Journal https://ift.tt/2LvJf0d

Tennessee to Appeal Federal Ruling Over Revoking Driver’s Licenses

Tennessee is appealing a landmark federal court ruling that says it’s unconstitutional for the state to revoke or suspend driver’s licenses over unpaid court costs. David Purkey, commissioner of the state Department of Safety and Homeland Security, filed a notice … from News – Insurance Journal https://ift.tt/2uZwsJl

Australia: IAG calls for explicit regulation of driverless vehicles

IAG, Australia's largest non-life insurer, says that there is a need for explicit regulation of autonomous vehicles above what currently exists. from Recent Posts on (eDaily) https://ift.tt/2LwokdF

India: Insurers stop giving cover to Iranian cargo

Indian insurance companies have stopped providing insurance cover to goods-- mainly crude oil-- imported from Iran. from Recent Posts on (eDaily) https://ift.tt/2vgxC2e

Hong Kong: Clement Cheung appointed to be Insurance Authority CEO

The government has appointed Mr Clement Cheung Wan-ching as the CEO and a Member of the Insurance Authority (IA). Mr Cheung was Commissioner of Insurance from 2006 to 2009. from Recent Posts on (eDaily) https://ift.tt/2OoV2v3

Indonesia: Move postponed to make local insurance mandatory for coal export shipments

The trade ministry has decided to postpone for six months the application of rules requiring coal and crude palm oil export shipments to use Indonesian insurance, reports Reuters citing ministry officials. from Recent Posts on (eDaily) https://ift.tt/2vhgI3p

South Korea: Govt takes steps to reduce obesity

The South Korean government aims to lower the population's average obesity rate by implementing measures in the four areas of nutrition, exercise, obesity treatment and improved awareness. from Recent Posts on (eDaily) https://ift.tt/2LvGRGO

Intellectual property litigation rising in frequency and severity: Willis Towers Watson report

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Mutlinational companies today are falling short in managing the financial impacts of their intellectual property (IP) risks, according to a report from Willis Towers Watson. Global trends point toward an increase in frequency and severity around IP litigation, according to Willis Towers Watson’s Intellectual Property Litigation Risk Report.  The report is based on a combination of IP litigation cost survey results and globally sourced litigation data. It captures existing perceptions of IP litigation risk and encourages organizations to adopt an enterprise-level understanding of IP litigation’s potential financial impact. Read: Insuring M&A deals According to the company, the report points to several macro-factors driving IP litigation frequency and severity including a sharp spike globally in grants of IP rights, the growing use of trade secrets to protect innovation, an increase in technology-related mergers and acquisitions, greater mobility of IP and the evolution o...

Aon reports USD$47 million profit for second quarter

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Aon plc has reported a profit of USD$47 million for the second quarter of 2018. The profit translates to USD$0.19 earnings per share, compared to a loss of $(52) million, or $(0.20) per share, in the prior year period, which includes $(36) million, or $(0.14) per share, of unfavorable impact from adoption of the new revenue recognition standard, says the company. Net income per share from continuing operations on a comparable basis, adjusted for certain items and the impact of adoption of the new revenue recognition standard, increased 31% to $1.71, compared to $1.31 in the prior year period. Read: Global catastrophe losses for first of 2018 week below average “Our second quarter results reflect continued momentum toward our mission with positive performance across each of our key financial metrics; including strong organic revenue growth of 5% overall and substantial operational improvement reflected in 17% operating income growth and +13...

New NAS Cyber Product Targets High Net Worth Individuals

NAS Insurance has launched a stand-alone cyber insurance product for high net worth individuals and their families. NetGuard SELECT provides cyber protection, fraud detection, and dark web and social media monitoring services to fight evolving cyber risks. More than the … from News – Insurance Journal https://ift.tt/2mPEr7e

Texas Seeks Input on Draft of Revisions to Catastrophe Data Call Standard

Texas insurance regulators have responded to insurer requests for revisions to its standards for catastrophe data calls and is seeking input on the proposed changes. The Texas Department of Insurance said following Hurricanes Ike and Harvey, insurers participating in data … from News – Insurance Journal https://ift.tt/2K1f3EE

Northern California Wildfire Kills One; Hundreds Evacuate

At least one person died in a wildfire that swept through Northern California, destroying buildings and forcing hundreds of residents to evacuate late Thursday. The blaze, which killed a bulldozer operator working on fire lines, ripped through the villages of … from News – Insurance Journal https://ift.tt/2v85VZv

Russian hackers used phishing tools in 2017 attack on U.S. grid

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WASHINGTON _ Russian hackers who penetrated hundreds of U.S. utilities, manufacturing plants and other facilities last year gained access by using the most conventional of phishing tools, tricking staffers into entering passwords, officials said Wednesday. The Russians targeted mostly the energy sector but also nuclear, aviation and critical manufacturing, Jonathan Homer, head of Homeland Security’s industrial control system analysis, said during a briefing. Read: Convincing clients cyber coverage is crucial  They had the capability to cause mass blackouts, but chose not to, and there was no threat the grid would go down, the officials said. Instead, the hackers appeared more focused on reconnaissance. The 2017 attack prompted a rebuke from the Trump administration earlier this year. The victims ranged from smaller companies with no major budget for cybersecurity to large corporations with sophisticated security networks, Homer said. Vendors were targeted because of their dire...

Husky Energy refinery in Wisconsin won’t restart until 2020

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SUPERIOR, Wis. _ A Wisconsin refinery damaged by an explosion and fire earlier this year is not expected to resume operations until 2020. WDIO-TV reports Canada-based Husky Energy said in its second-quarter earnings statement Thursday that the refinery in Superior, Wisconsin, is not expected to restart for at least 18 to 24 months. Read: The value of getting forensic engineers engaged early Chief Operating Officer Rob Symonds said in a conference call that an investigation into the late April explosion continues, and that the company plans to use insurance proceeds to rebuild the refinery. The explosion injured at least 13 people and prompted an evacuation. Read: What is an explosion? The mayors of Superior and nearby Duluth, Minnesota, have called on the refinery’s owners to stop using hydrogen fluoride to process high-octane gasoline. Hydrogen fluoride is a highly corrosive chemical that can produce toxic vapour clouds. Canadian Insurance Top Broker is now on Facebook ( facebo...