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Showing posts from August, 2018

Pot industry wants to see ‘stoner’ stereotype go up in smoke

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Michelle Janikian, who writes about marijuana for publications like Herb, Playboy and Rolling Stone, says after she tells someone what she does for a living, she usually spends the rest of the conversation “trying to act so friendly and mainstream” so they don’t think she’s stoned. Adam Salcido relates that after he went to work a couple of years ago for a Southern California company that helps organize weed-infused events like Hempfest and Cannabis Cup, he had to reassure his family he wouldn’t turn into a drug addict. Stoner stereotypes die hard. But with a multibillion-dollar industry beginning to flower—marijuana is now legal in some form in 30 states—cannabis advocates are pushing to dispel the idea that people who toke up still live on the couches in their parents’ basements and spend their waking hours eating Cheetos and playing video games. MedMen, a flashy, upscale chain of dispensaries that brands itself as the Apple store of pot shops, recently rolled out a $2 million ad...

Ontario Teachers’ acquires Kanetix Ltd.

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Ontario Teachers’ Pension Plan (Ontario Teachers’) has announced it has agreed to acquire Kanetix Ltd., Canada’s largest digital customer acquisition platform and marketplace that provides quote comparison search tools for insurance and financial products. Financial terms were not disclosed. Ontario Teachers’ would also like to welcome Igal Mayer as the new CEO of Kanetix, effective immediately.  Mayer is the founder of Shop Insurance Canada, as well as the former CEO of Aviva Canada, Aviva UK and Aviva Europe. Canadian Insurance Top Broker is now on Facebook ( facebook.com/TopBrokerMag )  as well as LinkedIn ( linkedin.com/company/citopbroker ) and Twitter ( twitter.com/CITopBroker ) . Follow us for easy access to the top P&C news you need to know.  from Canadian Insurance Top Broker https://ift.tt/2N7AlpN

Trial in RICO Case Against State Farm Set for Trial in Illinois Federal Court

A class action lawsuit against insurance giant, State Farm, alleging the company recruited a judge to run for an opening on the Illinois Supreme Court and funded, without disclosing, his the election campaign is set to go to trial in … from News – Insurance Journal https://ift.tt/2LJs3jf

Lawsuit Planned Against Brad Pitt Foundation over New Orleans Homes

An attorney plans to sue actor Brad Pitt’s foundation over the degradation of homes built in an area of New Orleans that was among the hardest hit by Hurricane Katrina. The forthcoming lawsuit against Pitt’s Make It Right foundation will … from News – Insurance Journal https://ift.tt/2NE4Cts

Prosecutors: Possible Negligence in Missouri Duck Boat Sinking

The U.S. Coast Guard has found probable cause that the sinking of a tourist boat on a Missouri lake last month that killed 17 people “resulted from the misconduct, negligence, or inattention to the duties” by the captain of the … from News – Insurance Journal https://ift.tt/2LIJuAq

6 Small Businesses Share Disaster Recovery Stories

As small business owners in Hawaii and California clean up following Hurricane Lane and wildfires, they’ll find there’s no one formula for recovery. The same disaster can devastate businesses in divergent ways – a hurricane might tear the roof off … from News – Insurance Journal https://ift.tt/2N6pFHS

Must-Reads Of The Week From Brianna Labuskes

Bill to Expand Harassment Training Requirements Passes California Assembly

The California Assembly on Thursday voted unanimously on a plan to address workplace sexual harassment and expand a requirement for harassment training to small businesses. Current law requires all employers with 50 or more employees to provide two hours of … from News – Insurance Journal https://ift.tt/2wB738v

Markel to Acquire Insurance-Linked Securities Manager Nephila

Specialty insurer Markel Corp. has agreed to acquire all of the outstanding shares of Nephila Holdings, a standalone insurance-linked securities manager. Nephila, has more than $12 billion of assets under management for over 300 investors. Its revenue is primarily from … from News – Insurance Journal https://ift.tt/2orMY0Z

Sirius, Easterly Acquisition amend merger agreement

The amendment, among other things, modifies the date on which the exchange ratio, used to calculate the number of Sirius Group common shares to be issued in the The post Sirius, Easterly Acquisition amend merger agreement appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2wAoVR9

Seeman Holtz acquires professional liability agency Ritman & Associates

Jennifer Ritman has built a boutique insurance agency specializing in all things property and casualty with an emphasis on professional liability insurance for attorneys. Ritman & Associates has The post Seeman Holtz acquires professional liability agency Ritman & Associates appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2wvHiaK

Anthem, Blue Shield and Mercy join forces to develop new health insurance product

The Anthem Alliance Exclusive Provider Organization (EPO) product was designed to meet the evolving healthcare needs of Missouri companies and consumers by providing benefits to members through a The post Anthem, Blue Shield and Mercy join forces to develop new health insurance product appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2wAoSor

Woodruff Sawyer in California Names Scales Vice President

San Francisco, Calif.-based Woodruff Sawyer has named Jen Scales vice president and account executive in its employee benefits practice. Scales has more than 15 years of experience in the insurance industry, having spent time in business development and risk consulting … from News – Insurance Journal https://ift.tt/2PpfXOy

Solar Projects in Oregon Getting Insurance to Guarantee Production

GCL New Energy Holdings Ltd. is managing the risk related to the unpredictable nature of the sun, with an insurance-like policy that will guarantee the production from solar projects it’s building in Oregon. KWh Analytics, a San Francisco-based risk-management software … from News – Insurance Journal https://ift.tt/2MCuB85

A.M. Best Upgrades Ratings of PURE Group

A.M. Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” for both members of the PURE Group of Insurance Companies (PURE). The members, both domiciled … from News – Insurance Journal https://ift.tt/2PUE5JQ

Delaware Teen Charged in Store Fire That Caused $3M in Damage

A Delaware teen is accused of starting a fire at a Family Dollar store that caused an estimated $3 million in damages. Harry Miller with the State Fire Marshal’s Office tells news outlets that the 16-year-old boy was charged Wednesday … from News – Insurance Journal https://ift.tt/2LJYL3H

Vincent Vandendael to leave Lloyd’s

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Lloyd’s has announced that its chief commercial officer, Vincent Vandendael, has decided to leave the corporation after almost six years. Vandendael will be moving to Everest Insurance as CEO of International Insurance in early 2019. His leaving date will be confirmed in due course. Vandendael joined Lloyd’s in December 2012 and as chief commercial officer is responsible for all business development. He also leads Lloyd’s global network, which extends to 31 offices that support Lloyd’s licences to operate in over 200 territories worldwide. “Lloyd’s international network has flourished under Vincent’s leadership,” says Lloyd’s CEO Inga Beale. “We have seen strong and steady growth in established territories like the U.S., whilst building and developing Lloyd’s presence in China, Dubai and Singapore and winning new licences for the Lloyd’s market in countries that include Colombia, India and Morocco.” Vandendael says, “Although I have decided it is time for me to move on...

Indictment Says Maryland Restaurateur Plotted to Burn Restaurant, Frame Wife

Federal prosecutors say a Maryland restaurant owner was under pressure, facing an impending divorce and financial ruin. His solution, they say, was to burn down his restaurant for insurance money, and implicate his soon-to-be ex-wife as a terrorist. The Capital … from News – Insurance Journal https://ift.tt/2ooySNP

SIAA Promotes Tombarelli and Holmes, Expands Their Roles

National independent agency alliance SIAA (Strategic Insurance Agency Alliance) has promoted two executives, Steve Tombarelli and Jeff Holmes, and expanded their roles. Tombarelli is now senior vice president, Business Expansion & Innovation. He will retain overall responsibility for the commercial … from News – Insurance Journal https://ift.tt/2wtEhaX

Shareholder Suit Alleges Pizza Chain Papa John’s Hid Executives’ Misbehavior

Papa John’s International Inc. founder John Schnatter will be questioned by the pizza chain’s lawyers about his demand for internal files related to directors’ handling of his ouster from the company. Schnatter sued last month in Delaware Chancery Court for … from News – Insurance Journal https://ift.tt/2PoDzme

State Farm Mutual Automobile Insurance Company Announces New York Rate Cut

State Farm Mutual Automobile Insurance Company has announced it will cut its rates in New York. As a result, its overall personal auto rate will drop by 3.4%. The total state-wide expected impact for State Farm Mutual by this rate … from News – Insurance Journal https://ift.tt/2C5cKBG

Foremost Auto Insurance Business Being Rebranded to Bristol West

Foremost Insurance Group, a member of the Farmers Insurance Group, said the Foremost automobile insurance book of business will be rebranded as Bristol West. The company said this rebranding will be phased in over the next several months and completed … from News – Insurance Journal https://ift.tt/2osxPMY

Podcast: Covéa’s Simon Cooter discusses the top five stories of the week

Cooter shares his thoughts on fraud, consolidation and InsurTech stories. from Insurer - insuranceage.co.uk https://ift.tt/2PSSq9q

Lloyd’s Commercial Officer Vandendael to Exit Lloyd’s to Take Executive Role at Everest

Lloyd’s announced that its chief commercial officer, Vincent Vandendael, has decided to leave the corporation after almost six years. He will be moving to Everest Insurance as CEO of International Insurance in early 2019. A Lloyd’s representative explained that the … from News – Insurance Journal https://ift.tt/2MC7ESp

Zurich Insurance Begins Competition to Find Cutting-Edge InsurTech Startups

Zurich Insurance Group believes a competition will help it find cutting-edge startups and entrepreneurs with whom to collaborate in the insurtech space. The Swiss insurer launched what it is calling the Zurich Innovation World Championship, billing it as a global … from News – Insurance Journal https://ift.tt/2PpUODP

Canopius Signs Partnership with Credit and Political Risk MGA, Anvil Underwriting

Canopius announced it has signed a partnership with Anvil Underwriting Ltd., a credit and political risk managing general agent (MGA). The agreement is effective from Sept. 3 and will allow Anvil to underwrite credit insurance, contract frustration and political risks … from News – Insurance Journal https://ift.tt/2wA4fZy

Quizzical questions: 31 August 2018

Test your knowledge of the week's news with our topical quiz. from Insurer - insuranceage.co.uk https://ift.tt/2PUiWzc

ILS Issuance in H1 Tops $7B, Reflecting Capital Markets’ Re/Insurance Appetite: Swiss Re

The first half of 2018 aptly demonstrated that the insurance-linked securities (ILS) market has an undiminished appetite to provide re/insurance protection – despite last year’s expensive insured natural catastrophe losses, according to Swiss Re Institute’s sigma publication While not quite … from News – Insurance Journal https://ift.tt/2NyhXU4

Lloyd’s to allow cannabis insurance

The marketplace has told its underwriters they can insure people who produce, distribute and sell marijuana in Canada where the drug is being legalised. from Insurer - insuranceage.co.uk https://ift.tt/2N77qSC

Elkann Steps Down as Chairman of PartnerRe, Succeeded by Dowd

PartnerRe Ltd. announced that Brian Dowd will succeed John Elkann as chairman of the company’s board of directors, effective Sept. 1. Elkann, who is chairman and CEO of PartnerRe’s parent company, EXOR, will remain on the board. Before he retired … from News – Insurance Journal https://ift.tt/2wsIGec

Allianz Names Schlatmann from Russia’s Sberbank as CEO of European Direct Business

Allianz announced that it has named Bart Schlatmann as CEO of its European direct business, effective Sept. 1. Schlatmann joins Allianz from Russia’s Sberbank, where he served as chief transformation officer, responsible for the digital overhaul of client services. Before … from News – Insurance Journal https://ift.tt/2ww0NzL

Maiden sells US treaty reinsurance renewal rights to TransRe

The deal, which has been completed, does not involve the Bermuda underwriting elements of Maiden, including its AmTrust Business or its International Insurance Services and Capital Solutions businesses The post Maiden sells US treaty reinsurance renewal rights to TransRe appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2C2axHq

Justice Department Supports Case Alleging Harvard Bias in Admissions

The U.S. Justice Department on Thursday threw its support behind a lawsuit accusing Harvard University of discriminating against Asian-American applicants, saying the Ivy League school’s race-based admissions process disadvantaged them. The department, which has been investigating Harvard for potential civil … from News – Insurance Journal https://ift.tt/2PNz9pY

Calm August No Guarantee of Hurricane-Free September

Where are all the big Atlantic storms? A year ago, Hurricane Harvey made landfall in Texas, kicking off a parade of destructive storms that made 2017 the costliest Atlantic season ever. So far in 2018, the region has been oddly … from News – Insurance Journal https://ift.tt/2C2vUIz

Court Asked to Force EPA Reversal of Monsanto Weedkiller Approval

Environmental groups argued in federal appeals court on Wednesday the U.S. Environmental Protection Agency failed to analyze the risks Bayer AG Monsanto’s dicamba-based weed killer posed to nearby crops before approving it in 2016. The groups, which filed a lawsuit … from News – Insurance Journal https://ift.tt/2PNz45E

2 Workers Killed in Scaffolding Collapse Near Disney World

Two construction workers fell to their deaths when scaffolding collapsed as they were pouring concrete on the seventh floor of a 16-story hotel under construction near Disney World early Wednesday, Orange County Sheriff’s officials said. The accident happened just outside … from News – Insurance Journal https://ift.tt/2NzaZhD

State Farm Purchases Naming Rights to Atlanta Hawks Arena

Philips Arena in Atlanta is being renamed for State Farm after a $192.5 million renovation. The Atlanta Hawks and the insurance company announced Wednesday they have reached a 20-year deal on naming rights for the arena, currently in the final … from News – Insurance Journal https://ift.tt/2NAtUZa

Holman Insurance Services Expands Offerings in Florida, Acquires Murray Insurance

Holman Insurance Services, a full-service brokerage offering personal and commercial insurance products headquartered in New Jersey, has expanded its personal insurance coverage into the Florida market. Offering a comprehensive lineup of personal insurance products including automotive, home, life and recreational … from News – Insurance Journal https://ift.tt/2PPSXZU

Houston’s Myron Steves Adds Tilford to Lead Claims Unit

Amanda Tilford has joined Houston-based managing general agency, Myron Steves, to lead the company’s Claims operations. She will be responsible for operating the claims processing unit, including the timely and proper disposition of claims in accordance with bound coverage. She … from News – Insurance Journal https://ift.tt/2Nz8Z8V

Farm Bureau Insurance of Michigan Names Taylor Marketing VP

Farm Bureau Insurance of Michigan has appointed Matt Taylor as its vice president of Marketing, effective Sept.7, 2018. Taylor began his insurance career serving in many positions at State Farm Insurance, including as an agent owner, an agency manager, and … from News – Insurance Journal https://ift.tt/2PRcaKI

Houston Eyeing Designer Bonds to Pay for $15B Ike Dike

A massive dike to hold back storm-driven floods surging in from the Gulf of Mexico was first proposed after Hurricane Ike devastated the Houston-area coast a decade ago. Last year’s Hurricane Harvey disaster brought fresh enthusiasm for the languishing project … from News – Insurance Journal https://ift.tt/2op24UP

EEOC Sues California Restaurant Chain Preferred Hiring Females Over Males

Burgers & Beer, a chain of Southern California restaurants, violated federal law when it denied males with the same employment opportunities as their female counterparts, the U.S. Equal Employment Opportunity Commission announced in lawsuit filed today. The EEOC contends that … from News – Insurance Journal https://ift.tt/2PSRuCa

Lockton Names Hill Personal Lines Leader in Nevada

Lockton has named Connie Hill to its signature client group in the Mountain West region. Hill is located in Lockton’s Las Vegas, Nev., office and will lead on providing advice and counsel to successful individuals and families. Hill has more … from News – Insurance Journal https://ift.tt/2LHVyBI

Illinois Governor Sends Workers’ Comp Bill Back to Lawmakers

Illinois Gov. Bruce Rauner has vetoed, with recommended changes, a workers’ compensation measure that would have allowed for interest to be paid on delayed payment in disputes between insurers and medical service providers. In his letter explaining his veto action, … from News – Insurance Journal https://ift.tt/2PlJb0v

New Workers’ Comp Program for California’s Cannabis Industry

California Insurance Commissioner Dave Jones today announced a new workers’ compensation insurance program for California’s cannabis industry. The program was created by Atlas General Insurance Services to serve businesses and workers in the cannabis industry. This program is designed to … from News – Insurance Journal https://ift.tt/2wsvgyz

Australia: Insurance industry stars lend glitter to Awards

Asia Insurance Review and ANZIIF co-hosted the 15th Australian Insurance Industry Awards last night at the Big Top in Sydney's Luna Park. from Recent Posts on (eDaily) https://ift.tt/2ovpsAl

Malaysia: General insurance business shows flat growth in 1H

The general insurance industry registered marginal growth of 0.7% with gross written premiums totalling MYR9.23bn ($2.24bn) in the first six months of 2018 compared to the same period in 2017. from Recent Posts on (eDaily) https://ift.tt/2Po6WoR

India: Title insurance makes little headway

The Real Estate (Regulation and Development) Act [RERA] has taken effect since 1 May 2017 making it compulsory for developers to take title insurance, but to date, not a single state regulator has mandated it. from Recent Posts on (eDaily) https://ift.tt/2oqoC7M

China: Insurance regulator emphasises reform and curbs on financial risks

China's banking and insurance regulator has vowed to step up efforts in curbing financial risks and deepening reform and opening-up in the sectors. from Recent Posts on (eDaily) https://ift.tt/2PlNtVF

South Korea: Govt tightens national health insurance rules for foreigners

The Health Ministry is pushing a proposal that would restrict Korean National Health Insurance coverage for foreign nationals to those who have stayed in the country for at least six months. The current requirement is three months. from Recent Posts on (eDaily) https://ift.tt/2oqoBRg

Marsh’s Parks Joins The Hartford to Head Sales for National Accounts in Specialty Commercial Sales

After 30 years at brokerage Marsh, George Parks is joining The Hartford to become head of sales and field operations for national accounts in the insurer’s Specialty Commercial business. Parks will oversee national accounts client management and retention, new client … from News – Insurance Journal https://ift.tt/2CaHrWq

Podcast: KHN’s ‘What The Health?’ Ask Us Anything!

Sirius International Insurance amends merger with Easterly Acquisition

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Sirius International Insurance Group, Ltd., a global multi-line insurance and reinsurance group, and Easterly Acquisition Corp. has announced an amendment to the agreement and plan of merger for the previously announced business combination of Sirius Group with Easterly. The amendment is pursuant to which Easterly will merge with and become a wholly-owned subsidiary of Sirius Group, and Sirius Group will become a publicly listed company. The amendment, among other things, modifies the date on which the exchange ratio, used to calculate the number of Sirius Group common shares to be issued in the merger, is determined.  Pursuant to the terms of the merger agreement, as amended, Easterly’s common stock will be exchanged for Sirius Group’s common shares at a value equal to 1.05x Sirius Group’s diluted GAAP book value per share as of September 30, 2018 , instead of as of June 30 , 2018. Sirius Group has also entered into subscription agreements with affiliated funds of Gallatin...

Church Mutual Launches New Online Insurer, CM Select

Church Mutual Insurance Co., based in Merrill, Wisconsin, has launched CM Select Insurance Co., which offers online access to products and serves created specifically for smaller churches and other religious organizations. Through CM Select, such organizations can obtain quotes, purchase … from News – Insurance Journal https://ift.tt/2PSdvB2

Allstate Says Brownsville, Texas, Has the Nation’s Safest Drivers

Illinois-based insurer, Allstate, has named Brownsville, Texas, the city with America’s safest drivers. The ranking is based on Allstate claims data. The 14th annual Allstate America’s Best Drivers Report spotlights safe driving leading up to the busy Labor Day travel … from News – Insurance Journal https://ift.tt/2N0Jhgy

3 New Insurers OK’d to Do Business in Arkansas

Arkansas Insurance Commissioner Allen Kerr has approved three new insurance companies to conduct insurance business in that state. Authority was granted to West Bend Mutual Insurance Co. (WBM) of West Bend, Wisconsin, to offer property, casualty (including workers’ compensation), surety, … from News – Insurance Journal https://ift.tt/2PR6pfV

Seeman Holtz Acquires Indiana Agency, Ritman & Associates

Seeman Holtz Property & Casualty Inc. has acquired Noblesville, Indiana-based Ritman & Associates Inc., which specializes in professional liability insurance. Jennifer Ritman has built a boutique insurance agency specializing in all things property/casualty with an emphasis on professional liability insurance … from News – Insurance Journal https://ift.tt/2N0WRR8

Ex-CEO of Oklahoma Ambulance Service Settles Kickback Case for $80K

The former CEO of an Oklahoma ambulance service has agreed to pay tens of thousands of dollars to settle a civil kickback case. The U.S. Justice Department revealed Monday that Stephen Williamson will pay an $80,000 settlement, the Oklahoman reported. … from News – Insurance Journal https://ift.tt/2C3xKJg

10th Child Dies After Chicago Fire

The deadliest residential fire in years in Chicago claimed its tenth and final victim on Tuesday, as a 14-year-old boy who barely survived the blaze died at a hospital. Although authorities initially believed that two of the people killed by … from News – Insurance Journal https://ift.tt/2Nyr3A3

Severe Storms Leave Trail of Damage in Wisconsin

An 11-year-old boy nearly lost his life in a waterlogged drainage ditch in eastern Wisconsin but was pulled to safety by an eagle-eyed firefighter who spotted his finger poking through a manhole cover, officials said, following another round of storms … from News – Insurance Journal https://ift.tt/2Nz9UGs

Virginia Reminds Homeowners to Review Property Coverage Before a Hurricane

Although hurricane activity in the Atlantic has been relatively quiet so far for 2018 with only five named storms to date, the Virginia State Corporation Commission’s (SCC) Bureau of Insurance is reminding Virginians not to let their guard down. With … from News – Insurance Journal https://ift.tt/2LFlqhR

School District in California Settles Sex Abuse Cases for $15M

A Southern California school district agreed to pay more than $15 million to settle lawsuits by eight former students who say they were sexually abused by teachers and staff members, attorneys announced this week. The three cases involved former female … from News – Insurance Journal https://ift.tt/2N4lv39

Judge Says FEMA Can End Motel Payments for Hurricane Maria Evacuees

A federal judge on Thursday rejected a request to block the U.S. government from cutting off aid to hundreds of Puerto Rican families who fled the hurricane-ravaged island in 2017 and are living in hotels and motels across the United … from News – Insurance Journal https://ift.tt/2PPIEoE

FDA Says Coffee Doesn’t Deserve California’s Cancer Risk Warning

The top U.S. regulator of food and health products endorsed a plan by California officials to exempt coffee from a state law that would have made Starbucks, Dunkin’ Donuts and other coffee shops add a cancer warning to cups of … from News – Insurance Journal https://ift.tt/2PeFwS0

Roost Partners with New York-Based Kingstone Insurance

Roost, a provider of home telematics for property insurance carriers, has partnered with New York-based Kingstone Insurance. Roost is a technology company headquartered in Sunnyvale, Calif. Kingstone is a property and casualty insurance holding company whose principal operating subsidiary, Kingstone … from News – Insurance Journal https://ift.tt/2NuGTLT

QBE North America appoints Dennis Kearns

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QBE North America, an integrated specialist insurer, has announced the appointment of Dennis Kearns as head of distribution & major trading partner engagement, a newly expanded role with the organization to build the strongest partnerships and drive profitable growth with the producers in its limited and preferred distribution platform. Based in New York City , Kearns will work closely with QBE’s regional executives and be responsible for offering a strategic voice on distribution, overseeing sales operations and driving engagement in North America with QBE’s global trading partners. Kearns has more than 20 years of insurance industry experience. Most recently, he was SVP, transactional liability and financial institutions underwriting leader for QBE North America’s specialty business. He joined QBE in 2013 in a product development role and was responsible for engineering the launch of nearly 30 specialty insurance products. “We are very excited to have Dennis assume this ...

QBE North America Names Kearns to New Distribution, Engagement Post

Specialty insurer QBE North America has appointed Dennis Kearns as head of Distribution and Major Trading Partner Engagement, a newly expanded role with the organization. Based in New York City, Kearns will work closely with QBE’s regional executives and be … from News – Insurance Journal https://ift.tt/2PgENQu

Pennsylvania’s Erie Insurance Group Names Pesta VP and Chief Internal Audit Officer

Erie Insurance has named Pam Pesta as vice president and chief internal audit officer, effective September 4, 2018. In this role, she will manage the overall operations of the Internal Audit Department and provide strategic, risk-based insight to the organization. … from News – Insurance Journal https://ift.tt/2NyReqk

TransRe Buys Renewal Rights from Maiden Re; Hires Treaty Team

TransRe has acquired the exclusive renewal quotation rights to all of Maiden Maiden Reinsurance North America’s U.S. treaty customers from their diversified business. TransRe has also and has hired the U.S. treaty team from Maiden Re. TransRe said it will … from News – Insurance Journal https://ift.tt/2LHkmdg

Street safety education crucial as kids head back to school

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With back-to-school fast approaching, it’s a fitting time to educate ourselves on road sharing laws and etiquette, particularly as we face one of the deadliest years ever on Toronto streets. In 2017, 36 pedestrians, 13 drivers and 4 cyclists were killed in a collision with a motor vehicle, finds  Toronto Police Service Public Service Data Portal. 2018 is on pace to be another bad year, with more than 20 pedestrian and cyclist deaths so far. Part of the problem is the lack of education around safe practices and road signage. A survey commissioned by RSA Canada, finds that 50% of pedestrians don’t always know when cyclists have the right of way, and 33% of cyclists have seen an unfamiliar road sign recently. It’s clear that more education is needed and road users agree: the same survey finds that 57% of cyclists and 44% of pedestrians want their cities to invest in driver education, finds a survey by Maru/Matchbox. The reality, however, is that everyone could ...

Sizing Up Ridesharing and the Gig Economy

How big is the gig economy? The answer depends on how one defines “gig economy.” Because there is no broadly accepted definition and no straightforward way to classify workers or jobs as “gig” or “not gig,” this report will focus … from News – Insurance Journal https://ift.tt/2wrNyQG

Germany Echoes UK Concerns over Post-Brexit Risk to Insurance, Derivative Contracts

European Union and U.K. authorities must agree on a political solution to the threat Brexit poses to trillions of dollars in derivatives and insurance contracts, according to Germany’s top financial regulator. Felix Hufeld, the president of BaFin, said the industry … from News – Insurance Journal https://ift.tt/2N2gOXz

Nuclear Defense Facility Safety Board Raises Concerns Over Change in Policy

An independent safety panel that provides oversight of some of the nation’s highest risk nuclear facilities voiced concerns Tuesday that new federal policies could limit inspections and curtail access to key information. The Defense Nuclear Facilities Safety Board peppered Energy … from News – Insurance Journal https://ift.tt/2Pki8m9

Claims management possible Amazon target

Consultancy says Amazon’s capabilities position it best for a claims management role. from Insurer - insuranceage.co.uk https://ift.tt/2NA2cvE

AXIS Names Ventresca to New Position of Chief Strategy Officer

AXIS Capital Holdings Ltd. announced that Linda Ventresca has been appointed to the newly created position of chief strategy officer. Reporting directly to president and CEO Albert Benchimol, Ventresca will be responsible for guiding the development of the company’s strategic … from News – Insurance Journal https://ift.tt/2LB7VQc

Ratings agencies give steady response to Aspen sale

Moody’s and S&P declare no change while AM Best begins a review. from Insurer - insuranceage.co.uk https://ift.tt/2wtWi8O

As Arctic Ice Melts, New Energy Shipping Trade Route Opens

A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area. This year is likely to … from News – Insurance Journal https://ift.tt/2oowgQ4

China’s Largest Ride-Hailing Firm Didi Suspends Service After 2nd Passenger Killing

China’s largest ride-hailing company Didi Chuxing has suspended its carpooling service after a passenger was killed, and is likely to face tighter oversight that will squeeze driver numbers and extend customer waiting times. The incident, which follows a similar grisly … from News – Insurance Journal https://ift.tt/2wtTit4

Hong Kong Seeking Talent in Marine Insurance, Cyber Security, Actuarial Science, etc.

If you’re a waste treatment specialist, actuary or naval architect, Hong Kong wants you. The government this week unveiled a talent list to attract skilled workers in 11 professions that the city is seen as needing most. Experts in asset … from News – Insurance Journal https://ift.tt/2NtUbZ3

SCOR Global Life collaborates with health intelligence provider Human Longevity

Based in California, Human Longevity uses a combination of DNA sequencing and expert analysis with machine learning to deliver individual health assessments. The health tech company creates a The post SCOR Global Life collaborates with health intelligence provider Human Longevity appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2NzK3yi

Santander Bank Settles Auto Finance, Insurance Claims

A unit of European lender Banco Santander SA has agreed to settle claims by a U.S. consumer watchdog that it misled drivers about the costs of loans and the coverage of related insurance policies, said three people with direct knowledge … from News – Insurance Journal https://ift.tt/2opiY5D

Some Question Independence of Proposed Catholic Laity-Led Sex Abuse Investigations

A committee created by the Catholic Church specifically to prevent sexual misconduct by clergy on Tuesday issued a damning assessment of the failings to stem the abuse, calling it an “evil” caused by “a loss of moral leadership.” The National … from News – Insurance Journal https://ift.tt/2wA1kjk

New Online Insurer CM Select to Target Small Churches, Religious Organizations

Church Mutual Insurance Co. has launched CM Select Insurance Co. – an online insurer offering access to an insurance product specifically for smaller churches and other religious organizations. These organizations can obtain quotes, purchase policies and manage their insurance needs … from News – Insurance Journal https://ift.tt/2wrMxZ0

Shooting at Florida Gaming Tournament Highlights Event Security Issues

A champion gamer’s decision to open fire Sunday afternoon during a video competition in Jacksonville, Fla. – killing two people and wounding nine others before killing himself – has prompted calls from gamers for more security at esports tournaments. “It’s … from News – Insurance Journal https://ift.tt/2LDH6uM

Mississippi Ship Builder Error Causes Fuel Spill Into Pascagoula River

Hundreds of gallons of diesel fuel spilled into a river in Mississippi after a mechanical error at a ship builder. WLOX-TV reported the fuel spilled into the mouth of the Pascagoula River from a ship at Ingalls Shipbuilding. The Mississippi … from News – Insurance Journal https://ift.tt/2PNE6PD

Tennessee Court Dismisses DUI Conviction Over ‘Unconstitutional’ Roadblock

The Tennessee Court of Criminal Appeals has dismissed a drunken driving conviction, ruling that a roadblock that led to the man’s arrest in Chattanooga was unconstitutional. The Chattanooga Times Free Press reports 58-year-old Robert Franklin was convicted in 2016 of … from News – Insurance Journal https://ift.tt/2BXzh3x

Insurers Looking to Continue Hiring in Very Competitive Labor Market

Insurance companies are hoping to hire additional employees over the rest of 2018 in a labor market that remains extremely competitive, according to a study from The Jacobson Group and Aon’s Ward Group. About 63 percent of companies said they … from News – Insurance Journal https://ift.tt/2MGsvUL

California Legislature Passes Bill Aimed Collecting Data and Helping Wildfire Victims

The California Legislature has passed Senate Bill 824, a bill aimed at provided information to the California Department of Insurance related to fire risk information on the residential property policies issued by insurers. The bill prohibits insurers from canceling or … from News – Insurance Journal https://ift.tt/2NwMXDG

Deadline Next Week: Nominate Your Agency as a Best Agency Today!

Do you love your agency? Is it a Best Place to Work For? If so, don’t forget to nominate your agency to be named as one of Insurance Journal’s Best Agencies to Work For in 2018. The deadline to submit … from News – Insurance Journal https://ift.tt/2MUbyFJ

Watch: What Happened To That $109,000 Heart Attack

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Kaiser Health News editor-in-chief Elisabeth Rosenthal discusses the latest Bill of the Month installment on “CBS This Morning” on Wednesday.  The story of a high school teacher who  faced an outrageous hospital bill  is part of an ongoing crowdsourced investigation by KHN and NPR. from Insurance – Kaiser Health News https://ift.tt/2NyboR9

India: Cabinet approves MoU with US in insurance regulatory sector

The Indian union cabinet has approved the signing of a memorandum of understanding (MoU) between the IRDAI and the Federal Insurance Office (FIO) of the US. from Recent Posts on (eDaily) https://ift.tt/2Nyo7Ue

Myanmar: State-owned insurer to cover thousands of homes

Myanmar's state-owned insurer has signed an agreement with a consortium of local and foreign companies to provide insurance to buyers of government-built housing units. from Recent Posts on (eDaily) https://ift.tt/2olqaQk

Hong Kong: Govt to offer tax incentives to vie with Singapore for marine & reinsurance business

The Hong Kong government will introduce a number of tax incentives to promote marine insurance, reinsurance and specialty insurance as the city strives to become a regional risk management centre, according to Financial Secretary Paul Chan Mo-po. from Recent Posts on (eDaily) https://ift.tt/2wzutLw

Australia: Insurance market increasingly dominated by foreign owners

The changing structure of the insurance industry in Australia, following a wave of M&A activity, has seen increased ownership of Australian insurers by foreign-controlled companies and a reduction in market share held by the largest insurers in the market. from Recent Posts on (eDaily) https://ift.tt/2okX8QP

China: ZhongAn Online 1H premium volume more than doubles

China's first online only insurer, ZhongAn Online, has posted a 106.6% surge in total premiums to CNY5,148.2m ($754m) for the first half of this year, on the back of rapid growth in emerging ecosystems. from Recent Posts on (eDaily) https://ift.tt/2Nvuzv9

A.M. Best: Insurers Equipped to Handle Hurricane Lane Losses

A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance Program’s reinsurance program into … from News – Insurance Journal https://ift.tt/2LDenGn

Cybercube in California Adds Swiss Re’s Weber to Board

CyberCube has added Matthias Weber to its board of directors. Weber was previously group chief underwriting officer and member of the group executive committee at Swiss Re. San Francisco, Calif.-based CyberCube is a provider of cyber risk analytics for the … from News – Insurance Journal https://ift.tt/2omckNS

Louisiana Sees 10-Month Increase in Not Seasonally Adjusted Nonfarm Jobs

Louisiana’s not seasonally adjusted nonfarm employment increased by 26,000 jobs from July 2017 to 1,980,200, marking 10 consecutive months of increases, the Louisiana Workforce Commission reported. Over the same time period, not seasonally adjusted private sector employment increased by 28,500 … from News – Insurance Journal https://ift.tt/2woXBG0

SLTX: Houston City Council to Buy $30M in Cyber Insurance Coverage

The Houston City Council voted unanimously to purchase $30 million in cyber insurance coverage at a total premium cost of $471,000. The policy provides first-party coverage for the city’s operations, third-party coverage for the city’s liability to others, and coverage … from News – Insurance Journal https://ift.tt/2PPG5Dg

Official Says Fireworks, Cigarettes May Have Caused Deadly Chicago Blaze

Investigators seeking the cause of Chicago’s deadliest fire in well over a decade were searching the porch area where the blaze started for evidence of fireworks, cigarettes or other smoking materials, a fire official said. Fire Department spokesman Larry Langford … from News – Insurance Journal https://ift.tt/2ojLC8n

Maday Joins J.M. Wilson as Assistant Property/Casualty Underwriter

Managing general agency and surplus lines broker J.M. Wilson has added Mark Maday as assistant property/casualty underwriter in the company’s Arlington Heights, Illinois, office. Maday is responsible for underwriting new and renewal business, corresponding with carrier underwriters, and assisting independent … from News – Insurance Journal https://ift.tt/2BZbHDp

CorLife LLC Launches Home Health Service for Workers’ Comp

CorLife LLC, a Green Bay, Wisconsin-based provider of ancillary benefits and home modification services for workers’ compensation carriers nationwide, has added a new company, CorCare LLC, which provides skilled, home health services to workers’ comp insurers. CoreCare offers all levels … from News – Insurance Journal https://ift.tt/2wrujXk

Tulsa, Oklahoma, CBD Shops Multiply Amid Medical Pot Legalization

Tulsa’s market growth for cannabis-derived products without the high of THC was inevitable regardless of Oklahoma’s medical marijuana legalization, according to advocates. Proponents of medical marijuana have fielded questions about whether entrepreneurs are opening cannabidiol, or CBD, shops with the … from News – Insurance Journal https://ift.tt/2POXlbr

India Government Recommends J&J Pay Compensation for Recalled Hip Implants

A government panel has recommended that Johnson & Johnson (J&J) pay compensation of at least $28,500 to each Indian patient who suffered from artificial hip implants the U.S. healthcare firm recalled eight years ago. The ASR hip implants were recalled … from News – Insurance Journal https://ift.tt/2okLQvW

Post disaster, business owners find varied paths to recovery

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As small business owners in Hawaii and California clean up following Hurricane Lane and wildfires, they’ll find there’s no one formula for recovery. The same disaster can devastate businesses in divergent ways — a hurricane might tear the roof off one restaurant, flood another and leave a third with little damage. Whether a business recovers often depends on how prepared it is, such as whether it has insurance and its computer data is backed up remotely. Owners should also find out what resources are available to them from the government, their communities and other entrepreneurs, says Craig Markovitz, a professor of entrepreneurship at Carnegie Mellon University’s Tepper School of Business. Communication with customers and vendors is also crucial, Markovitz says. “Let people know you’re going to get back on your feet,” he says. Anything from a sign on a company’s premises to advertising to media coverage will help. Markovitz also advises owners to rally their entrepreneurial spiri...

Air Canada mobile app breach may affect up to 20K customers

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Air Canada says 20,000 customers may have had their personal information improperly accessed due to a breach in its mobile app, prompting a lock-down on all 1.7 million accounts until consumers change their passwords. The airline says it detected unusual login activity last week and tried to block the hacking attempt, locking the app accounts as an additional measure. Mobile app users received an email Wednesday morning alerting them as to whether their account had been affected. The app stores basic information including a user’s name, email and phone number. Air Canada says credit card information is encrypted and would be protected from a breach. The company says that Aeroplan numbers, passport numbers, birth dates, nationalities and countries of residence could have been accessed if users saved them in their account profile. Users can reactivate their account by following instructions emailed to them or prompts when logging in. Canadian Insurance Top Broker is now on Facebook...

Canada leads way in growing cannabis market

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The legalization of recreational use cannabinoids in Canada is set to make waves in the market this year. As the first G7 country to legalize recreational cannabis on a national scale, Canada is leading the world in taking this lucrative trade out of the hands of criminal gangs and making it part of the legitimate economy. With the global cannabis market to reach a value of $57 billion by 2027, Canada provides a great opportunity for companies to capture a piece of this rapidly emerging market, notes a media release. With sales worth close to $6 billion , the Canadian cannabinoid industry has potential. It’s drawing the attention of big business, with Corona’s parent company investing billions in a cannabis beverage partnership. It is also opening a new market for companies in the related industrial hemp industry. On October 17, 2018 , farmers who hold valid hemp cultivation licenses will be allowed to begin to “harvest and store flowering heads, leaves and branches of the indust...

Last Year’s Wine Country Fires in California Leave Homeowners Struggling

Construction crews have already put up the frame on Cheri Sharp’s new house, but she still questions whether rebuilding was the right choice after California’s most destructive wildfire took her old home in wine country nearly a year ago. She’s … from News – Insurance Journal https://ift.tt/2BXbXCK

New Mexico Couple Wins $74M for Baby’s Brain Damage in Delivery

A jury has awarded a New Mexico couple $74 million in a medical malpractice lawsuit involving a son left with brain damage. KOB-TV in Albuquerque reported the jury this month ruled that a women’s health clinic in Hobbs, New Mexico, … from News – Insurance Journal https://ift.tt/2wkbSE7

AP Intego Names Victor Director of West Coast Operations

AP Intego Insurance Group has named Pamela Victor director of West Coast operations. The company announced its plan to open a West Coast sales, service and business development office in the San Francisco Bay Area with Victor leading the new … from News – Insurance Journal https://ift.tt/2wkblC7

Kushner Cos. Fined $210K by New York for False Documents

The Kushner family real estate company was fined $210,000 by New York City regulators on Monday following an Associated Press investigation earlier this year that showed it routinely filed false documents with the city claiming it had no rent-regulated tenants … from News – Insurance Journal https://ift.tt/2BX790a

Agencies Focus on Growing for Larger Accounts: Channel Harvest Survey

Independent agents and brokers are focusing on growing the average size of their commercial lines accounts, according to “Agent Voices 2018,” a report based on a survey conducted earlier this year and cosponsored by Channel Harvest Research and Insurance Journal. … from News – Insurance Journal https://ift.tt/2MVErRR

Lawsuit Against Connecticut Bar Seeks More Than $50K in Damages After Fatal Crash

Relatives of a Waterbury, Conn., man who died in a car crash that also killed the wife of longtime ESPN broadcaster Chris Berman has filed a lawsuit against a Connecticut restaurant. A lawyer for the restaurant declined comment on the … from News – Insurance Journal https://ift.tt/2PeZMmA

Pastor Pleads Guilty to Setting Fire to His Washington D.C. Rental Apartment

The pastor of a Baltimore, Md., church has pled guilty to setting fire to an apartment he rented in Southeast Washington in a plan to collect insurance money. Jamel Carelock, the pastor of Lead Church, pled guilty in the Superior … from News – Insurance Journal https://ift.tt/2C03i2G

UK, EU Officials Drop October Deadline for Brexit Divorce Deal: Sources

The UK and the European Union still say in public they want a Brexit deal wrapped up in the next seven weeks. Behind the scenes, though, senior officials on both sides admit this is unlikely. They now aim to finalize … from News – Insurance Journal https://ift.tt/2NvDqgg

The Aviva Community Fund celebrates 10th anniversary

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Aviva Community Fund (ACF) celebrates its 10th anniversary this year, and will once again donate $1 million to fund charitable initiatives in communities across Canada . From August 28 to September 18 , submissions are open for the #BetterTogether ideas at avivacommunityfund.org . With 60 prizes to give away, the two idea categories are: small ideas - 50 prizes of $10,000 will be awarded to organizations that bring people in their community together; and big ideas - 3 prizes of $100,000 and 7 consolation prizes of $15,000 will be awarded to organizations that bring people in their community together and also have long-lasting impact. “Finding ways to bring people together and foster a sense of belonging to a community is not only a nice thing to do, it’s necessary,” says Colm Holmes , president and CEO at Aviva Canada. “We know that bringing people together can help create stronger and healthier communities.” Research shows that when communities are made up o...

California wine country fires leave homeowners struggling

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Construction crews have already put up the frame on Cheri Sharp’s new house, but she still questions whether rebuilding was the right choice after California’s most destructive wildfire took her old home in wine country nearly a year ago. She’s had to dip into retirement savings to cover a $300,000 shortfall in her homeowner’s insurance coverage. “We just kind of thought we were taken care of,” Sharp, 54, says about her insurance policy. “If I had to do it over again, I’d probably change my mind and move.” The wind-whipped wildfire that tore through Northern California in October 2017, killing 22 people and destroying more than 5,500 structures, left many people in Sharp’s position: underinsured and having to scramble for money to build a new home on their property. Santa Rosa was the hardest-hit city, with entire neighbourhoods burned to ashes. But as of late August, only nine of nearly 2,700 single-family homes lost here had been rebuilt, according to figures from the city’s ...

Hiscox Appoints Peterson to Miscellaneous Professional Liability Product Head in N.Y.

Hiscox, an international specialist insurer, has appointed Tyler Peterson to miscellaneous professional liability product head in New York. Peterson joined Hiscox in 2012 as a professional risks underwriter and most recently drove product development and expansion across Hiscox UK’s Media … from News – Insurance Journal https://ift.tt/2MXNEJj

Travelers’ Chapman to Lead IAT’s New Surety Unit After IFIC Acquisition

IAT Insurance Group has hired Ken Chapman as executive vice president, Surety, to lead IAT’s new surety business following IAT’s acquisition of IFIC Surety Group that is expected to close in the third quarter. Chapman will join the company’s leadership … from News – Insurance Journal https://ift.tt/2PS38gG

Barnes & Noble Calls Fired CEO’s Defamation Claims ‘Lies and Mischaracterizations’

Barnes & Noble Inc. was sued on Tuesday by a former chief executive officer who said the largest U.S. bookstore chain falsely accused him of violating its sexual harassment policy before firing him after 14 months on the job. In … from News – Insurance Journal https://ift.tt/2wo5KKW

Which report highlights dual pricing

Survey shows dual pricing in home cover as some long term policyholders pay up to £105 more than new customers. from Insurer - insuranceage.co.uk https://ift.tt/2wmFwIQ

Survey says group life insurance a desirable voluntary employee benefit for Americans

According to the survey, although 27% of employed Americans have voluntary group life insurance, 68% of workers who say they don’t because their employer doesn’t offer it would The post Survey says group life insurance a desirable voluntary employee benefit for Americans appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2PhBc4O

Litigation Financing Emerges as Alternative Asset Class for Wealthy Investors

When shares of AMP Ltd. plunged earlier this year after the firm was engulfed in a fee-for-no-service scandal, the Australian wealth manager was hit within weeks by the first of five separate class action lawsuits. It wasn’t just the seriousness … from News – Insurance Journal https://ift.tt/2wtKdje

Brighthouse Financial selects GEP’s unified procurement software platform

Charlotte, North Carolina-headquartered Brighthouse Financial is the latest enterprise to adopt the SMART by GEP unified procurement and purchasing software, and will be using the system for source-to-pay The post Brighthouse Financial selects GEP’s unified procurement software platform appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2Nubklx

Merchants Insurance selects Hi Marley as intelligent messaging solution

Merchants claims vice president Ken Carter said: “Our mission is to help our customers manage risk, pre and post loss, so that they may live their dreams. “The The post Merchants Insurance selects Hi Marley as intelligent messaging solution appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2LG9dtm

Fraudsters posing as ABI in claims scam

ABI warns of CMC cold-callers claiming to be from the trade body. from Insurer - insuranceage.co.uk https://ift.tt/2wpMfSj

THB Announces New Strategy, Leadership for UK Wholesale Broking Operation

THB, the London-based specialist insurance and reinsurance broker, announced new leadership and a new multi-sector strategy for THB UK Risk Solutions, its wholesale broking operation which places UK risks on behalf of some 1300 brokers. Declan Durkan, who joined THB … from News – Insurance Journal https://ift.tt/2wlUPBk

Chubb to make Duck Creek solutions available to global business units

The enterprise license agreement is a component of Chubb’s focus on transforming itself to thrive in the digital age. Chubb delivers commercial and personal property and casualty insurance, The post Chubb to make Duck Creek solutions available to global business units appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2PhDZec

Wis. Board Will Again Cover State Workers Seeking Transgender Treatment

Google Partners with Indian Banks to Attract Users to Its Digital Payments Services

Alphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital … from News – Insurance Journal https://ift.tt/2BX9d8n

Insurers Increasingly Seek Legacy Transfers to Shed Long-Tail Liabilities

Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve disposals in 2017, bolstered by continued momentum in early 2018, indicate … from News – Insurance Journal https://ift.tt/2PgAzIp

Insurance employee jailed for £129,000 fraud

The man was jailed yesterday for abusing his position at three different insurance companies to fund trips to Disneyland. from Insurer - insuranceage.co.uk https://ift.tt/2MWHfOp

Apollo Global Management funds to acquire Aspen Insurance for $2.6bn

Aspen Insurance offers reinsurance and insurance coverage to clients across the world via its subsidiaries. The insurer maintains offices across Bermuda, Australia, Canada, the US, Ireland, Singapore, Switzerland, The post Apollo Global Management funds to acquire Aspen Insurance for $2.6bn appeared first on Compelo Insurance . from Compelo Insurance https://ift.tt/2LBFwJU

Credit Ratings Assigned to New Horizons Insurance Co. of Missouri

A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to New Horizons Insurance Company of Missouri (New Horizons). The outlook assigned to these Credit Ratings (ratings) is … from News – Insurance Journal https://ift.tt/2LCOarr

Small Earthquake Shakes North Alabama

No damage is being reported after a minor earthquake rattled northern Alabama. The U.S. Geological Survey says a magnitude 2.1 earthquake happened around 7:22 a.m. Monday about 15 miles north of Huntsville near the Tennessee state line. The Geological Survey … from News – Insurance Journal https://ift.tt/2PbiL1o

Opioid Deaths Continue to Rise in South Carolina

South Carolina officials say the number of deaths caused by opioids has increased for the third year in a row. The state’s Opioid Emergency Response Team met Aug. 20 and officials noted in a news release that South Carolina had … from News – Insurance Journal https://ift.tt/2PisDGT

Lighter, Lower Cost Smart Clothing Shows Potential in Injury Rehabbing

Clothing and footwear that detect human movement could soon become the preferred fashion choice for people recovering from injuries or trying to avoid them as the technology is becoming lighter and less expensive. A team of engineers at the University … from News – Insurance Journal https://ift.tt/2Lzuq8f

P/C Insurance Industry Delivered Improved Results in First Half

Mid-year results for U.S. property/casualty insurers and reinsurers show they are on the mend following a trying 2017, according to Fitch Ratings. Operating performance moderately improved for P/C (re)insurers during the first half of the year thanks to improved core … from News – Insurance Journal https://ift.tt/2MEzYUg

NCCI Proposes 13% Rate Decrease for Florida Workers Comp, Notes Future Challenges

Florida businesses could see another significant rate decrease in workers’ compensation rates next year if Florida regulators approve the latest filing from the National Council on Compensation Insurance (NCCI). But the recent trend of lower rates may not last for … from News – Insurance Journal https://ift.tt/2NvT0Z9

Wildfire Insurance Bill Signed by California Governor

California Gov. Jerry Brown on Monday signed into law a bill that is intended to combat what are believed underinsurance issues revealed by 2017 wildfires. AB 1797 by Assemblyman Marc Levine, D-Marin County, is expected to create a requirement for … from News – Insurance Journal https://ift.tt/2Lxyvtj

1-in-5 Consumers Say They’d Use Amazon or Google for Home Insurance

One-in-five consumers say they would use Amazon or Google for their home insurance, a J.D. Power released a survey released today shows. And most of those who took the survey (80 percent) already have insurance with a large national carrier. … from News – Insurance Journal https://ift.tt/2wkmjrm

India: LIC outlines vision to be a global financial conglomerate by 2031

The Indian public sector life insurer Life Insurance Corporation (LIC) aspires to be a global financial conglomerate by 2031. The corporation, founded in 1956, will complete 75 years of operations in 2031. from Recent Posts on (eDaily) https://ift.tt/2N07i7o

Hong Kong: Insurers' federation marks 30th anniversary with new corporate logo

The Hong Kong Federation of Insurers (HKFI), which turns 30 this month, has adopted a new corporate logo to symbolise its readiness and determination to stride into a brave new journey, and to mark the historic milestone. from Recent Posts on (eDaily) https://ift.tt/2NvbpFM

South Korea: Non-life sector posts 17% fall in 1H2018 profits

South Korea's non-life insurers saw their combined net profit fall by 17% during the January to June period this year compared to the previous year, hit by the increased losses in insurance operations, in particular, in motor insurance. from Recent Posts on (eDaily) https://ift.tt/2N4HK9v

Japan: Life insurers fail to bite despite central bank's changes to the 10-year yield

Japan's life insurers are signaling that a tidal change in money flow back to Japan will not take place until the central bank lowers purchases of super-long debt, according to a report by Bloomberg. from Recent Posts on (eDaily) https://ift.tt/2wjMyxW

Australia: Major insurers to appear before royal commission

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry will hold its new round of public hearings on 10-21 September that will involve insurers. from Recent Posts on (eDaily) https://ift.tt/2LtNl4d

Education Is Reason Behind Replica of Katrina Flood-Damaged Home

In a dynamic before-and-after project, a nonprofit organization has partially restored a home ravaged by a catastrophic rush of floodwater when a New Orleans levee failed 13 years ago during Hurricane Katrina, re-creating two rooms to look like a typical … from News – Insurance Journal https://ift.tt/2LBdvC5

First Medical Marijuana Patient Licenses Awarded in Oklahoma

More than 1,600 people and businesses applied for Oklahoma medical marijuana licenses on the first day that applications were made available. The online application system went live at 10 a.m. Saturday at www.OMMA.ok.gov for all potential medical marijuana patients, growers, … from News – Insurance Journal https://ift.tt/2BV0zqZ

Uber teams up with Toyota to build self-driving cars

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Uber is teaming up with Toyota to build self-driving cars for its ride-hailing service after its efforts to do it alone were derailed by a fatal collision and allegations of high-tech theft. Toyota, based in Japan, is also investing $500 million in Uber as part of the alliance announced Monday. The deal aims to combine the best features from the two companies’ work on autonomous technology into cars that will be picking up Uber’s customers by 2021. By the time that happens, Uber hopes to have completed an initial public offering of stock that will enrich a list of early investors that now includes Toyota. Those investors have been pouring billions of dollars into Uber’s revolutionary ride-hailing service that still hasn’t proven it can make money since its inception nearly a decade ago. Uber is counting on self-driving cars to help it turn the financial corner by reducing the need to pay human drivers who arrive to pick up passengers in private vehicles summoned through a smartphon...

Survey reveals sexual harassment in P&C insurance industry

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Wells Media Group publication Carrier Management is releasing a four-part series exploring sexual harassment in the property/casualty insurance industry. In part one of the series, The P/C Insurance Industry’s #MeToo Moments , Carrier Management shares the results of a survey and speaks directly and at length with four women who shared their accounts of alleged harassment. The Carrier Management reader survey (with 267 responses) reveals that the problem has hit much of the industry. It finds that carrier and agency employees have experienced sexual harassment in equal measure. Most were female, and respondents noted incidents as recently as 2017 as well as going back decades. Victims experienced inappropriate humour or joking, sexual innuendos about their appearance, persistent flirting, unwanted physical contact, and leering or obscene gestures. (A small number of respondents acknowledged experiencing these incidents, but did not equate them as forms o...