Insurance Wiki How

Scientists are sending additional sensors to south Alabama and the Florida Panhandle with aims of solving the mystery of what caused a spate of recent earthquakes. Five earthquakes have been detected in the region within a three-week span. Government researchers … from News – Insurance Journal https://ift.tt/2K8G2nh

North Carolina Personal Auto Rates to Increase by 1.6%

The North Carolina Rate Bureau has reached a settlement with the North Carolina Department of Insurance to raise personal auto insurance rates by 1.6 percent, according to a statement by NCDOI. The NCRB, which is not a part of NCDOI … from News – Insurance Journal https://ift.tt/2ODtcvJ

1 Million Acres of Midwest Farmlands Flooded as Corn Planting Deadlines Approach

At least 1 million acres (405,000 hectares) of U.S. farmland were flooded after the “bomb cyclone” storm left wide swaths of nine major grain producing states under water this month, satellite data analyzed by Gro Intelligence for Reuters showed. Farms … from News – Insurance Journal https://ift.tt/2UleQW5

Big Settlements Drove Value of Securities Class Actions Above $5 Billion in 2018

The total settlement value of securities class actions rose sharply to $5 billion in 2018, driven by five settlements of at least $100 million, according to a report by Cornerstone Research. The report, Securities Class Action Settlements—2018 Review and Analysis, … from News – Insurance Journal https://ift.tt/2K4pXP4

How Disasters, Tax Reform Affected P/C Insurers’ Performance in 2018

Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The catastrophe losses counteracted gains from the implementation of tax reform, according … from News – Insurance Journal https://ift.tt/2UlxgpB

Insurer Introduces Revolutionary 3-Word Personal Insurance Policy

APRIL 1, 2019 — An insurance company that says it wants to simplify insurance has whittled its personal insurance policies for families down to three words. The new product, named TriWord, bundles property and casualty coverages for auto, home and … from News – Insurance Journal https://ift.tt/2JXs07F

EPIC Adds Knight, Smiley in Atlanta

EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, has added two senior vice presidents in its Atlanta office. Chris Knight has joined EPIC’s growing Integrated Risk Solutions Consulting Practice as senior vice president, … from News – Insurance Journal https://ift.tt/2COzjsj

Judge Nixes Trump Administration’s Low-Cost Association Health Plans for Small Firms

A federal judge has struck down a small-business health insurance plan widely touted by President Donald Trump, the second setback in a week for the administration’s health care initiatives. U.S. District Judge John D. Bates wrote in his opinion late … from News – Insurance Journal https://ift.tt/2FMQCft

Authorities in Florida say a fire at a power utility substation left thousands of people without power in Broward County. News outlets report an explosion at a Florida Power & Light substation in Fort Lauderdale late Tuesday interrupted service and … from News – Insurance Journal https://ift.tt/2TEZcAB

Strong Storm Causes Hail Damage in Central Florida

A series of hail storms in central Florida dinged up car windshields and blew off pool screens in an unusual sight for the Sunshine State. In tiny Trenton, the streets were covered in so much hail that it resembled a … from News – Insurance Journal https://ift.tt/2YzIZ3h

New Investment Management Coverage from Berkley Targets Asset, Fund Managers

Berkley Professional Liability, a Berkley Company, has expanded its product offerings to include a primary management liability policy for investment advisors and funds. The new customizable policy offers a choice of coverage options, including investment adviser professional liability, fund professional … from News – Insurance Journal https://ift.tt/2Ul57it

Missouri Bill Could Exempt 1M Vehicles from Safety Inspections

Mandatory safety inspections would no longer be required for more than a million vehicles on Missouri’s roads under legislation passed by the state House. Safety inspections currently are required every other year for all vehicles more than five years old. … from News – Insurance Journal https://ift.tt/2CN9PLX

CEO of Texas Petrochemical Tank Facility Apologizes for Fire

The chief executive of a Houston-area petrochemical storage company has apologized more than a week after a fire erupted, causing school closures, an order for residents to stay indoors and the partial closure of a critical commercial waterway. Intercontinental Terminals … from News – Insurance Journal https://ift.tt/2V20HKs

Rare Manuscript Museum in St. Louis Badly Damaged by Fire

A 107-year-old St. Louis, Missouri, building that houses rare manuscripts was badly damaged in a fire, but the museum’s owner says the manuscripts were spared and he plans to rebuild. The fire broke out Tuesday night at the Karpeles Manuscript … from News – Insurance Journal https://ift.tt/2CN9KrD

Michigan’s Unique Auto Fee Will Rise to $220 per Vehicle in July

Michigan’s mandatory fee to cover unlimited medical benefits for catastrophically injured drivers is rising to a record $220 per vehicle, which is more than double what it was a decade ago. The Michigan Catastrophic Claims Association, a state-created entity that … from News – Insurance Journal https://ift.tt/2V3tf6j

Surplus Lines Windstorm/Hail Bills Move Forward in Texas Legislature

Legislation clarifying that eligible surplus lines insurers can provide windstorm and hail insurance, despite available coverage from the Texas Windstorm Insurance Association (TWIA), has moved forward in the Texas legislature, the Surplus Lines Stamping Office of Texas (SLTX) reported. The … from News – Insurance Journal https://ift.tt/2FJY6j6

Update: Truck That Exploded in Arkansas Was Carrying Ammonium Nitrate

A commercial truck hauling a chemical commonly used as fertilizer exploded Wednesday on a highway in Arkansas, killing the driver and creating a massive crater in the road, authorities said. The explosion happened west of the city of Camden, or … from News – Insurance Journal https://ift.tt/2YwCZrY

2 Killed When Boulder Falls from Truck in Oklahoma

Oklahoma authorities say a large boulder fell from a truck and went through the windshield of a passing SUV, killing two women who were passengers in the smaller vehicle. The Oklahoma Highway Patrol says the deadly accident happened Tuesday near … from News – Insurance Journal https://ift.tt/2HWniEA

Brexit Crisis Deepens as UK Parliament Again Rejects Prime Minister’s Deal

Lawmakers rejected Prime Minister Theresa May’s Brexit deal for a third time on Friday, sounding its probable death knell and leaving Britain’s withdrawal from the European Union in turmoil on the very day it was supposed to leave the bloc. … from News – Insurance Journal https://ift.tt/2uA2Q4H

Vermont Sues Two Prescription Opioid Distributors

Vermont filed a lawsuit against two pharmaceutical distributors, accusing them of selling ever-increasing amounts of prescription opioids in the state while failing to effectively monitor and control the sales and acknowledge the quantity of pills was outpacing the need. The … from News – Insurance Journal https://ift.tt/2HVAZ6O

Cal/OSHA Cites Contractor After Workers Hospitalized for Valley Fever

Cal/OSHA has issued serious health and safety citations to Underground Construction Co. Inc. of Benicia, Calif. after two of its employees contracted Valley Fever. The workers were reportedly exposed to the fungal disease while using hand tools to dig trenches … from News – Insurance Journal https://ift.tt/2HJYfFH

Los Angeles to Pay $12M in Wrongful-Conviction Case

The Los Angeles City Council has agreed to pay $12 million to a woman who spent 17 years in prison on a murder conviction before a judge declared her innocent. Susan Mellen was convicted of the 1997 beating death of … from News – Insurance Journal https://ift.tt/2uI6Hg9

Cyber row continues as ABI responds to Mactavish

ABI director general Huw Evans says Mactavish has “fundamentally misinterpreted” how cyber products are provided, after the insurance governance expert called on the industry for a guarantee that eight particular policy flaws won’t be used as reasons for claims refusals. from Insurer - insuranceage.co.uk https://ift.tt/2FJuLFr

Quizzical questions: 29 March 2019

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

Cavignac & Associates in California Names Schuman Account Manager

San Diego, Calif.-based Cavignac & Associates has named Bree Schuman an account manager in the company’s commercial department Among other duties, Schuman is responsible for endorsement processing, billing and cancellation issues, reconciling audits and contract review. Schuman has 10 years … from News – Insurance Journal https://ift.tt/2OxKmuJ

AIG Exits Individual Personal Lines Business in Canada

American International Group (AIG) has decided to stop underwriting new policies in its individual personal insurance lines of business in Canada, namely auto and homeowners. “We continually review our operations to make sure that AIG Canada provides clients and partners … from News – Insurance Journal https://ift.tt/2OwBFAQ

Massachusetts Insurance Agency CEO Charged in $270K Insurance Fraud Scheme

The president and CEO of a Taunton, Mass., insurance agency has been indicted in connection with an alleged embezzlement scheme that left client companies uninsured. David Pietro of Sandwich, Mass., and his company, DGP Miles Insurance Agency of Taunton, were … from News – Insurance Journal https://ift.tt/2UZfWns

FDA Medical Panel Opposes Restrictions on Breast Implants at This Time

Government medical advisers said this week it’s too soon to ban a type of breast implant that has recently been linked to a rare form of cancer, saying more information is needed to understand the problem. The Food and Drug … from News – Insurance Journal https://ift.tt/2UlID0P

Purdue Pharma Owners Sued by New York Over Opioid Addiction Epidemic

The billionaire owners of Purdue Pharma LP were sued by New York state for allegedly triggering a U.S. addiction epidemic with their marketing of the Oxycontin painkiller, just two days after the company agreed to pay $270 million to settle … from News – Insurance Journal https://ift.tt/2uBH8NI

Alliant Hires Rossi Capital Partners’ Rossi as Vice President in New York

Alliant has hired Francis Rossi as vice president. In this new role, the New York-based property and casualty insurance veteran will deploy his experience in finance, insurance and risk management to a portfolio of clients. Prior to joining Alliant, Rossi … from News – Insurance Journal https://ift.tt/2WDh4xJ

Swedbank Fires CEO on Growing Investor Criticism of Handling of Laundering Scandal

Swedbank dismissed Birgitte Bonnesen as chief executive on Thursday only an hour before its annual meeting after disgruntled shareholders rounded on her handling of a rapidly-growing money laundering scandal. The lender had repeatedly said it had faith in Bonnesen to … from News – Insurance Journal https://ift.tt/2HZ79hB

FCA confirms no deal Brexit rules

Rules have been approved by the Treasury and will come into force on exit day if the UK leaves the EU without a deal. from Insurer - insuranceage.co.uk https://ift.tt/2JN7XZr

Judge Allows Suit Challenging Nestle Claim Its Poland Spring Water Is From Natural Spring

A federal judge on Thursday rejected Nestle SA’s bid to dismiss a revised lawsuit claiming that it defrauded consumers by filling bottles of its Poland Spring water with ordinary groundwater. U.S. District Judge Jeffrey Alker Meyer said consumers from eight … from News – Insurance Journal https://ift.tt/2YI55AK

Broking Break - Your Top 5

The Gallagher v Ardonagh trial has borne several highly read stories this week with acquisitions and people moves also catching the interest of Insurance Age readers. from Insurer - insuranceage.co.uk https://ift.tt/2WuS0c3

Mozambique City of Beira Tried to Battle Climate Change – Then Cyclone Idai Hit

Long before Cyclone Idai roared in and tore apart Mozambique’s seaside city of Beira, the mayor dreamed of protecting his people from climate change. It would be a huge challenge. Large parts of the city of 500,000 residents are below … from News – Insurance Journal https://ift.tt/2FFSZ2p

Africa RE Joins World Bank’s IFC to Build Insurance Market for Nigeria’s Farmers

The International Finance Corp. (IFC), a member of the World Bank Group, announced it has signed an agreement with Africa RE, the pan-African reinsurance company, to help small holder Nigerian farmers more easily access insurance to protect their crops and … from News – Insurance Journal https://ift.tt/2OuZusA

Lloyd’s Announces Chief Risk Officer Weaver Leaving Market After 16 Years

Lloyd’s of London announced that Hilary Weaver, the corporation’s chief risk officer, is leaving at the end of March 2019 after 16 years. Weaver joined Lloyd’s in 2004 as head of Internal Audit and became chief risk officer in April … from News – Insurance Journal https://ift.tt/2OAlH8H

Sabre reveals flat set of results for 2018

Post-tax profit drops slightly as GWP remains flat at £210m. from Insurer - insuranceage.co.uk https://ift.tt/2OyFpl6

Chubb Bermuda Names Porter Head of Financial Lines

Chubb Bermuda has named Richard Porter as senior vice president, head of Financial Lines. In this role, Porter is responsible for leading Chubb Bermuda’s Financial Lines division, which includes directors and officers liability, cyber, transactional risk, errors and omissions, and … from News – Insurance Journal https://ift.tt/2HZTMxD

Doughnut Hole Is Gone, But Medicare’s Uncapped Drug Costs Still Bite Into Budgets

Shareholder Accuses Argo Group of Illegally Appointing Two Board Members

An Argo Group shareholder accusing the company and CEO Mark Watson III of extravagant spending practices now claims that the carrier illegally appointed two board members. Argo disagreed, continuing a very public battle between Voce Capital Management LLC and itself … from News – Insurance Journal https://ift.tt/2FH69fA

Miami Insurance Agent Arrested for Stealing $620K in Premiums

A former licensed insurance agency owner was arrested in Florida after allegedly stealing more than $620,000 in insurance premiums, according to a statement from Florida Chief Financial Officer (CFO) Jimmy Patronis. Orestes Valentin Rodriguez, owner of Blue Guard Insurance Group … from News – Insurance Journal https://ift.tt/2uyTYw4

Duke University to Settle Whistleblower Suit Over Faked-Research for $112M

Duke University will pay $112 million to settle a whistleblower lawsuit after federal prosecutors said a research technician’s fake data landed millions of dollars in federal grants, the school and the government said Monday. The private university in Durham submitted … from News – Insurance Journal https://ift.tt/2V1JyAL

North Carolina-Based AmWINS Group Names Kiley as SVP

AmWINS Group, Inc., a global distributor of specialty insurance products and services, has named Alycia Kiley as senior vice president at the company, focused on building strategic partnerships with the firm’s retail clients. AmWINS works with retail insurance agents, brokers … from News – Insurance Journal https://ift.tt/2V1kERz

Final Four a ‘Big-Ticket’ for Insurers Covering NCAA Tournament

If the NCAA’s Final Four basketball games were to be cancelled or postponed for any reason, that would be really, really bad news, not only for the collegiate sports association and fans but also for the panel of insurers that … from News – Insurance Journal https://ift.tt/2CDw7zN

House Committee Passes Bill to Protect Financial Firms Serving Marijuana Businesses

A House committee has advanced a bill to protect financial institutions from criminal prosecution for providing services to legal marijuana businesses. The House Financial Services Committee voted 45 to 15 in favor of the SAFE Banking Act, which promises to … from News – Insurance Journal https://ift.tt/2V4pRYP

Rates, Lower Loss Frequency, Innovation Drove Personal Auto Market Turnaround

After a weakened performance in 2015-2016, the U.S. private passenger auto segment has turned around as rate actions and underwriting initiatives have driven a 3.8-point year-over-year improvement in the sector’s combined ratio in 2017. A 4.7-point loss ratio reduction through … from News – Insurance Journal https://ift.tt/2CH2FJa

Court Rules Dating App Not Liable for Harassing Content

A U.S. federal appeals court refused to hold Grindr liable to a New York man who said his former boyfriend used the gay dating app to post fake profiles, in a harassment campaign that caused more than 1,000 men to … from News – Insurance Journal https://ift.tt/2V3spXa

California Commissioner Yet to Move on Petition from Climate Activists for More Insurer Regs

Nobody’s saying much as California Insurance Commissioner Ricardo Lara considers how he will respond to a petition submitted by climate change activists urging him to place new regulations on insurers to disclose what fossil fuel projects can companies in the … from News – Insurance Journal https://ift.tt/2FHpHS6

Podcast: KHN’s ‘What The Health’ Health Care’s Back (In Court)

State, County File Joint Suit Against Company Over Texas Chemical Fire

Texas officials on Tuesday sued owners of a Houston area petrochemical storage facility over a fire last week, alleging violations of environmental laws and seeking damages to cover response costs for the disaster that burned for days, releasing chemicals into … from News – Insurance Journal https://ift.tt/2FBpQ8s

Nebraska Alcohol Retailers Told to Destroy Inventory Touched by Flood

Nebraska retailers who were hoping to salvage alcohol that was touched by floodwaters are out of luck. The Nebraska Liquor Control Commission said that stores must destroy any alcohol in containers that came into physical contact with floodwater. Stores are … from News – Insurance Journal https://ift.tt/2CH2vBF

Minnesota Truck Repair Shop Contests OSHA Fines Tied to Explosion Injuries

A truck service shop in North Mankato is contesting federal fines levied after a natural gas explosion last November that injured two workers. The explosion happened Nov. 14 at Allstate Peterbilt when natural gas that leaked from a garbage truck … from News – Insurance Journal https://ift.tt/2JW1XOq

Wisconsin Manufacturer Again Cited for Workplace Hazards; Faces $188K in Fines

A wood pallet manufacturer in Beloit, Wisconsin, has been cited by workplace safety regulators for safety and health violations and now faces more than $188,000 in penalties. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) reported it … from News – Insurance Journal https://ift.tt/2OuVcl7

1 Killed When Truck Carrying Chemical Explodes on Arkansas Highway

Authorities say a commercial truck carrying an unknown chemical has exploded on a highway in south Arkansas, killing one person and creating a massive crater in the road. The Arkansas Department of Emergency Management says one person was killed in … from News – Insurance Journal https://ift.tt/2U38JGD

Hundreds File Claims Against Company in Wake of Texas Petrochemical Fire

A Houston-area petrochemical storage company that was heavily damaged by fire has received hundreds of compensation claims from residents seeking lost wages and other damages, a company executive said. Brent Weber, a senior vice president for Intercontinental Terminals Company, told … from News – Insurance Journal https://ift.tt/2FDSZ2V

Mine Operator Cited for Safety Issues in Fatality at Nevada Gold Mine

Federal mine safety officials have cited an Idaho-based company for inadequate safety controls at a gold mine it operates in northeast Nevada where a worker was killed in an underground collapse in October. The U.S. Mine Safety and Health Administration … from News – Insurance Journal https://ift.tt/2U2rwlf

Oregon Ponders Grants Driving Privileges to Undocumented Immigrants

Every time Mariana Alvarez leaves her home, she crosses herself in prayer in hopes she will be able to return to her three children. Alvarez moved to Salem from Mexico, and lives in Oregon without proof of legal residence. Under … from News – Insurance Journal https://ift.tt/2UWQPSe

California Jury Awards $9M to Family of Woman Shot to Death

A California jury has awarded $9 million to the family of a woman fatally shot seven times by police in Long Beach in 2017 in what the family’s attorneys say is the largest such award in city history. The federal … from News – Insurance Journal https://ift.tt/2CKfRge

Alera Group Acquires New York City’s Phalanx Healthcare Solutions

Alera Group, a national insurance firm, has acquired Phalanx Healthcare Solutions LLC, effective March 1, 2019. Located in New York City, Phalanx is an insurance and reinsurance broker of medical malpractice insurance for healthcare facilities, large physician groups and individual … from News – Insurance Journal https://ift.tt/2OwE4LH

New Jersey Men, Associated Companies Charged in $1.4M Insurance Fraud Scheme

Four New Jersey men and six of their associated businesses were charged with first-degree conspiracy and money laundering in connection with a bank scheme involving the deposit of nearly $1.4 million in phony or forged checks related to insurance claims. … from News – Insurance Journal https://ift.tt/2FGO5TL

New Hampshire’s The Concord Group Promotes McCabe, Nolin

The Concord Group Insurance Companies has appointed Daniel L. McCabe as the president and CEO of the Concord, N.H.-based company. McCabe will serve on the board and executive committee. Most recently, McCabe acted as senior vice president and chief operating … from News – Insurance Journal https://ift.tt/2UhtVIf

Brexit Political Impasse Deepens Even After Prime Minister’s Offer to Quit

Britain’s political standoff over Brexit escalated further, with even Theresa May’s announcement that she’ll quit as prime minister doing nothing to move closer to a resolution. It leaves the country entering another critical 48 hours after Parliament signaled it’s more … from News – Insurance Journal https://ift.tt/2HIplwJ

Supreme Court May Overturn Tradition of Courts Deferring to Regulatory Agencies

The U.S. Supreme Court’s conservative justices expressed doubts about a precedent that business groups and the Trump administration say gives federal agencies too much power to change regulations without notice. In an hour-long argument in Washington on Wednesday, the court … from News – Insurance Journal https://ift.tt/2CIvcy1

HDI Global Specialty to Launch Australia General Aviation Team, Led by QBE’s Bowes

HDI Global Specialty SE – Australia, the new specialty lines insurer, has recruited Jamie Bowes as head of Aviation as a first step to developing a general aviation footprint in the Asia Pacific markets. Bowes, a 20-year veteran in insurance … from News – Insurance Journal https://ift.tt/2CJYc8q

InsurTech Futures: SPB UK acquires Loyal Insurance and Square Pound

The affinity speciality has bought both the firms which include the Insurance2Go and Better Buy Insurance brands. from Insurer - insuranceage.co.uk https://ift.tt/2OxJOoq

UK Insurers Pay Record £1 Million ($1.3 Million) Each Day for Vehicle Thefts: ABI

A surge in vehicle thefts, including keyless car crime, has led to motor insurers paying out a record £1 million (US$1.3 million) every day, according to figures published by the Association of British Insurers (ABI). See below for ABI’s explanation … from News – Insurance Journal https://ift.tt/2HTQKei

SCOR Investment Partners Promotes Rostan as Head of Insurance-Linked Securities

SCOR Investment Partners announced the promotion of Sidney Rostan as head of Insurance-Linked Securities (ILS), effective April 1, 2019. Sidney Rostan replaces Vincent Prabis, who is leaving the company to take a different career path. Rostan, 47, will be in … from News – Insurance Journal https://ift.tt/2HXoiZ4

Neon Leads New London Political Risks Consortium, Offering $100M Limit Per Policy

Specialist Lloyd’s insurer Neon announced it will lead a newly established London Political Risks Insurance Consortium, with MS Amlin becoming a joint agreement party. Spearheaded by Neon’s recently promoted head of Specialty, Nicholas Robinson, the consortium has been created in … from News – Insurance Journal https://ift.tt/2TFXbDY

Engine Failure on Luxury Cruise Ship Blamed on Low Level of Engine Lubricating Oil

The engines of a luxury cruise ship that narrowly escaped disaster during a storm off Norway on Saturday failed because of relatively low levels of lubricating oil in the engines, the Norwegian Maritime Authority said on Wednesday. The Viking Sky, … from News – Insurance Journal https://ift.tt/2V3R1iE

China to Expand Market Access for Foreign Investors in Banking, Insurance Sectors

China will sharply expand market access for foreign banks and securities and insurance companies, especially in its financial services sector, Premier Li Keqiang said on Thursday. The government will also work on more favorable policies for foreign investors to trade … from News – Insurance Journal https://ift.tt/2CDTJ7i

Seeman Holtz P&C Acquires Assets of Wisconsin’s Prey Insurance Services

Florida-based Seeman Holtz Property & Casualty LLC announced the asset acquisition of Prey Insurance Services LLC, headquartered in Shawano, Wisconsin. Led by Mike Prey and his team, Prey Insurance Services has been serving the state of Wisconsin for more than … from News – Insurance Journal https://ift.tt/2JInGZS

Sayata Labs Raises $6.5M in Funding for Small-Medium Business Cyber Risk Underwriting Service

Tel Aviv-based Sayata Labs has raised $6.5 million in seed funding for its cybersecurity and data science capabilities that give insurers and brokers the ability to assess the cyber risk of small and medium sized businesses and provide these businesses … from News – Insurance Journal https://ift.tt/2HTqUHk

Distracted Driving Habit Is Proving Tough for Americans to Break

Nearly eight in 10 consumers talk on the phone while driving and more than 30 percent admit to having been in a near-miss crash because they were distracted. Also, although distracted driving poses potential liability risks for companies, many expect … from News – Insurance Journal https://ift.tt/2TBKYQY

How One Company, AT&T, Is Using Models to Prepare for Natural Disaster Costs

By 2050, residents of southern Florida could become familiar with storms borne on 90-mph winds. Water levels during floods will rise by an average of 5 percent across the Southeast. And it will not be out of the ordinary for … from News – Insurance Journal https://ift.tt/2Yo4WCa

Florida’s Citizens: $200M Reinsurance Buy Needed to Protect Personal Lines Surplus

Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to storm risk in areas located away from the … from News – Insurance Journal https://ift.tt/2Fz1ewW

Lockton Affinity to Administer Westport Lawyer PL Program in Pennsylvania

Lockton Affinity will be the new program administrator for the Westport/Swiss RE’s Lawyer Professional Liability insurance in Pennsylvania, effective June 1, 2019. This program offers a comprehensive professional liability product for lawyers through Westport with program administration from Lockton Affinity. … from News – Insurance Journal https://ift.tt/2uubwcE

Zurich Sues Insured After Deadly Plane Crash in Georgia

An insurance company is suing a business whose chief executive was flying a plane that crashed in Georgia, killing him and three passengers. Federal court records show Zurich American Insurance Co. of Illinois is suing Sunshine International Corp. in relation … from News – Insurance Journal https://ift.tt/2CELOGO

United Heartland Promotes Pierce to Regional Director in North Carolina

United Heartland, a national workers’ compensation insurance company, has promoted Dana Pierce to regional director in Charlotte, N.C. Pierce began his United Heartland career in Underwriting in 2007. Most recently, he was regional manager of Business Development. Pierce is a … from News – Insurance Journal https://ift.tt/2Ox9cdY

Storms Cause High Winds, Damage in Central Alabama

Some buildings were damaged in central Alabama as storms moved across the state. Chilton County Emergency Management Director Derrick Wright told news outlets the damage in downtown Clanton on Monday afternoon appears to be from straight-line winds, not a tornado. … from News – Insurance Journal https://ift.tt/2HWt4WH

Jury Clears Johnson & Johnson in Talc Asbestos Case; J&J Settles 3 Other Cases

A New Jersey jury on Wednesday cleared Johnson & Johnson of liability in a lawsuit brought by a man who said that asbestos in the company’s talcum powder products caused his mesothelioma. The jury delivered its unanimous verdict in Middlesex … from News – Insurance Journal https://ift.tt/2uBv6Ud

Bayer Must Pay $80 Million in Roundup Cancer Trial, Says Jury

A U.S. jury on Wednesday awarded $80 million to a man who claimed his use of Bayer AG’s glyphosate-based weed killer Roundup caused his cancer, in the latest legal setback for the company facing thousands of similar lawsuits. The jury … from News – Insurance Journal https://ift.tt/2UUVRi9

Federal Judge Again Blocks Medicaid Work Requirements

Holmes Murphy Moves Denver Office

Holmes Murphy has moved to a new location in the firm’s Denver, Colo. market. Executives said one reason for the move was to accommodate the firm’s growth. Nearly 40 employees occupy the new location. Including its office in Denver, Holmes … from News – Insurance Journal https://ift.tt/2CEzYws

UPS, Drone Maker Kick Off U.S. Commercial Flights in North Carolina

United Parcel Service Inc. and a startup drone partner began the first continuing commercial drone deliveries in the U.S., making a short flight carrying a medical sample between North Carolina hospitals on Tuesday. The deliveries, using a drone made by … from News – Insurance Journal https://ift.tt/2TEVQNQ

Report: Farm Income Continues to Drop in Minnesota

A report finds Minnesota farm income continues to drop and hit a new low last year. University of Minnesota Extension and Minnesota State tracked the past 23 years of data and found after adjusting for information, Minnesota farms in 2018 … from News – Insurance Journal https://ift.tt/2Ox5scM

14 Troopers Hit This Year in Illinois Despite Move Over Law

Fourteen Illinois State Police officers or their vehicles have been struck in roadside crashes this year. That’s double last year’s total of eight. Gov. J.B. Pritzker and the Illinois State Police on Monday urged motorists to observe the “Mover Over … from News – Insurance Journal https://ift.tt/2FFqItT

Environmental, Economic Damage a Concern Following Texas Petrochemical Fire

Businesses and residents expressed concern on March 25 about the environmental and economic fallout from a fire at a Houston-area petrochemical storage farm that sent huge plumes into the air for days and prompted the partial closure of one of … from News – Insurance Journal https://ift.tt/2UUB7Hq

Credit Ratings Assigned to Midwest Insurance Group by AM Best

AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” to Midwest Insurance Co. of Springfield, Illinois, and its affiliate, West River Insurance Co. in Sioux Falls, South Dakota, collectively known as … from News – Insurance Journal https://ift.tt/2FGkdHd

Natural Disasters Drive £1 Billion (US$1.3 Billion) Loss at Lloyd’s During 2018

Lloyd’s of London reported a £1 billion (US$ 1.3 billion) loss for 2018, attributed to an above-average number of major natural catastrophes such Hurricanes Florence and Michael, Typhoon Jebi in Japan, as well as the Californian wildfires in the fourth … from News – Insurance Journal https://ift.tt/2JJamEu

Tokio Marine HCC Names Skarinka President, Public Risk Group

Houston-based Tokio Marine HCC has promoted Christopher Skarinka, chief operating officer for its Professional Lines and Public Risk Groups, to president of the Public Risk Group, effective April 1. He succeeds Thomas Harmeye,r who will continue to serve the division … from News – Insurance Journal https://ift.tt/2FE2OPu

Louisiana Firm to Pay $70K to Settle Disability Discrimination Lawsuit

A packaging company in Monroe, Louisiana, has agreed to pay $70,000 in lost wages and damages, and provide other significant relief to settle a federal disability discrimination lawsuit. The suit filed by the U.S. Equal Employment Opportunity Commission (EEOC), alleges … from News – Insurance Journal https://ift.tt/2Tz5CB6

Ohio Company Faces $1.3M in OSHA Penalties for Workplace Hazards

Federal safety officials have fined a metal heat treatment company based in Bowling Green, Ohio, $1,326,367 for exposing its employees to severe workplace hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) said Dowa THT America Inc. … from News – Insurance Journal https://ift.tt/2uwo7fC

Trade body for the claimant sector launched

ACSO says it aims to “de-toxify the so-called compensation culture”, with brokers reportedly being invited to join. from Insurer - insuranceage.co.uk https://ift.tt/2UYk4nH

Lawsuit Blames Nevada Casino Restaurant for Salmonella

A Nevada man is suing the corporate owner of a casino restaurant in Elko where he says he was infected with salmonella after eating contaminated ham or eggs there earlier this month. Harry Wiseman of Elko says he is one … from News – Insurance Journal https://ift.tt/2FFveZm

Oregon Confirms Data of 1.6M Residents Exposed in Breach

The Oregon Department of Human Services says that a data breach may have exposed the personal information of the 1.6 million residents the department serves. The department said on Thursday it isn’t sure exactly how many people had their information … from News – Insurance Journal https://ift.tt/2HX6ehY

New York’s Cybersecurity Regulation: A Compliance Framework

This writing presents a framework that if adopted by insurance agencies and carriers could simplify and minimize the cost of complying with the New York Department of Finance Regulation 23 NYCRR Section 500.11 “Third-Party Service Provider Security” while simultaneously deploying … from News – Insurance Journal https://ift.tt/2Or01fn

Pennsylvania Treatment Firm Accused of Exploiting Addicts, Insurers

The Pennsylvania attorney general’s office charged the co-founder and former executives of an addiction treatment firm and accused them of profiting off addicts by fraudulently billing insurance companies for tens of millions of dollars, with seeming little regard for the … from News – Insurance Journal https://ift.tt/2TzCwl3

Supreme Court Upholds SEC on Scope of Securities Fraud Liability

The U.S. Supreme Court safeguarded investor-protection laws on Wednesday by refusing to further narrow the scope of who can be held liable for securities fraud, upholding a lower court ruling against a New York investment banker banned from the industry … from News – Insurance Journal https://ift.tt/2YvPunx

Coface Appoints Haigley as Vice President

Coface, a global credit insurer, has appointed Paul C. Haigley III as its vice president of broker and financial institutions relationship management in the U.S. In this new role, Haigley will be leading a team that is focused on driving … from News – Insurance Journal https://ift.tt/2TAj2g5

Every Day, More Than 200 Cars with Keys Inside Are Stolen in U.S.: NICB

U.S. motorists appear to forgetting one of the earliest lessons of car ownership: Don’t leave the keys in the car. The National Insurance Crime Bureau reports that the number of vehicles stolen because drivers left their keys or fobs in … from News – Insurance Journal https://ift.tt/2WrtYOV

Liberty Mutual Names Proctor as Branch Executive in the Mid-Atlantic Region

Liberty Mutual has named Kelly B. Proctor as branch executive in the Mid-Atlantic region, serving Maryland, Washington, D.C., and Virginia. In this role, Proctor will partner with key brokers in her territory to provide a range of commercial and specialty … from News – Insurance Journal https://ift.tt/2CDzarA

Lloyd’s Will Name and Shame Sexual Harassers Who It Bans from the Market: CEO

Lloyd’s of London will publicly name and shame anyone it bans from its insurance market for sexual harassment, according to Chief Executive Officer John Neal. “When we do see instances of bad behavior, and let’s hope they are infrequent, we … from News – Insurance Journal https://ift.tt/2CAA9ZJ

Report Finds Rise in State-Sponsored Cyber Attacks on Financial Firms

Cyber attacks on financial institutions are increasingly being linked to nation-states, resulting in destructive and disruptive damages rather than just theft, according to a report by the Carnegie Endowment for International Peace. Out of 94 cases of cyber attacks reported … from News – Insurance Journal https://ift.tt/2WqrtfN

FDA Vows Tougher Testing as More Manufacturers Outsource

U.S. regulators plan to revamp rules governing how medicines are manufactured, in an effort to ensure the safety of the nation’s drug supply as recalls of contaminated imports from developing countries widen. “We’ve seen a lot of instances of adulterated … from News – Insurance Journal https://ift.tt/2FDr9Vw

Hong Kong Grants Online Banking Licenses to Insurer ZhongAn, 2 Bank Joint Ventures

Hong Kong has issued online-only banking licenses to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake up in years in the city’s retail banking sector dominated by old-guard … from News – Insurance Journal https://ift.tt/2CQP42b

Further losses at Lloyd's in 2018

Market reveals a loss of £1.0bn and a COR of 104.5% for 2018 as Neal admits "performance is not of the standard we would expect" . from Insurer - insuranceage.co.uk https://ift.tt/2Fvp90s

Blog: Beware of the FOS

Ian Mason, of Gowling WLG, considers the impact of the compensation limit increase to £350,000. from Insurer - insuranceage.co.uk https://ift.tt/2U13abu

“Meat market” Lloyd’s rushes through plan to combat sexual harassment

The market indicated it would be prepared to ban offenders for life if found guilty of harassment following “distressing” report. from Insurer - insuranceage.co.uk https://ift.tt/2Wt7HQL

Medicaid Expansion Boosts Hospital Bottom Lines — And Prices

Global Carbon Emissions Hit Record in 2018 on Higher Fossil Fuel Consumption

Carbon emissions from fossil-fuel use hit a record last year after energy demand grew at its fastest pace in a decade, reflecting higher oil consumption in the U.S. and more coal burning in China and India. Those findings from the … from News – Insurance Journal https://ift.tt/2FEQgYd

Hamilton Hires Barrett, Garber to Fill New Leadership Slots; O’Donohoe to Depart

Hamilton Insurance Group, moving full-speed ahead with its growth strategy, is hiring two executives in newly-created roles, and a third leader is leaving the company. The Bermuda-based insurance and reinsurance holding company said it had hired Peter Barrett, a former … from News – Insurance Journal https://ift.tt/2UVMPkU

Hannover Re Offers Match-Making Service for Insurtechs, Insurers Called ‘hr | equarium’

Insurtech companies across the globe have created an abundance of innovative solutions and services that span the insurance value chain. However, the challenge for both insurers and insurtechs is how to find the best match. That’s why Hannover Re has … from News – Insurance Journal https://ift.tt/2FtTdJI

ISO Releases Policy Rule, Rating Factors for Insuring Vehicles with Driver Assistance Features

ISO has introduced a new policy manual rule and rating factors to help auto insurers underwrite and price coverage for the growing number of cars with advanced driver assistance systems (ADAS). ISO is a Verisk business and a leading provider … from News – Insurance Journal https://ift.tt/2urt8WG

5th Earthquake This Month Strikes Near Alabama-Florida State Line

Another weak earthquake has struck near the Alabama-Florida state line. News outlets report it’s the fifth small quake in the area this month. There has been no damage or injuries. The U.S. Geological Survey said a 2.7 magnitude quake hit … from News – Insurance Journal https://ift.tt/2HU83vW

FAA Plans Major Overhaul of Aviation Safety

The U.S. aviation regulator will significantly change its oversight approach to air safety by July following two fatal Boeing Co MAX 737 passenger plane crashes, according to written congressional testimony seen by Reuters. At a U.S. Senate Commerce subcommittee hearing … from News – Insurance Journal https://ift.tt/2HIIezK

Despite Licensing Hassles, More Doctors Moving to Telemedicine

Most doctors have a license to practice medicine in just one state. Lindsey Mcilvena can practice in 26. “I’ve lost track a little bit,” she said of all her medical licenses. Mcilvena is a telemedicine doctor, one of a growing … from News – Insurance Journal https://ift.tt/2Wrp3Og

Trump Now Sides With Those Hoping to Pull Plug on All of Obamacare

The Trump administration is siding with Obamacare opponents who argue that it is unconstitutional and should be scrapped entirely, initiating a new, more aggressive assault on the health care law that will assure the issue will be squarely at the … from News – Insurance Journal https://ift.tt/2HIv85C

Marsh Partners with Insurers on Program to Help Firms Pick Best Cybersecurity Products

What the insurance industry has done for auto and building safety products, insurance broker Marsh wants to extend to cybersecurity products. That is, recommend the cybersecurity products that are the most effective. The program, named Cyber Catalyst, calls on leading … from News – Insurance Journal https://ift.tt/2WovLV1

25 Homes Destroyed by Fire at Apartment Complex in Atlanta Area

A fire at an Atlanta area apartment complex destroyed more than two dozen units. The American Red Cross was working to help more than 40 people displayed by the fire at the Gallery Apartments in Marietta late Saturday afternoon. No … from News – Insurance Journal https://ift.tt/2TXf8Db

MedMal Direct of Florida Appoints Dupre as VP of Claims

Jacksonville, Fla.-based MedMal Direct Insurance Co. has appointed Dan Dupre as vice president of Claims. Dupre succeeds Tim Bone, MedMal Direct’s co-founder and chief claims officer, who retired on Jan. 1, 2019. Bone will continue to serve on the company’s … from News – Insurance Journal https://ift.tt/2OtFTcc

CSAA in California Names Allstate’s Troy President and CEO

The board of directors of the CSAA Insurance Group, a AAA insurer, has named Thomas M. Troy to succeed Paula F. Downey as the company’s chief executive officer and a member of its board of directors. The promotion is effective … from News – Insurance Journal https://ift.tt/2HFBuTb

Washington Insurance Commissioner Issued $80K in Fines in February

Washington Insurance Commissioner Mike Kreidler disciplined and issued fines in February totaling $79,400 against insurance companies, agents, brokers and others who violated state insurance regulations. Insurance companies Asuris Northwest Health, Seattle; fined $20,000 The company retroactively denied coverage for a … from News – Insurance Journal https://ift.tt/2uwIc5c

California Disaster Insurance Act Passes Key Committee

Legislation by that could lead California to consider buying insurance in the private market to cover rapidly increasing costs of fighting wildfires due to climate change cleared a key committee vote Tuesday. Senate Bill 290, called the California Disaster Insurance … from News – Insurance Journal https://ift.tt/2TWW9sg

Aviva’s ex-CEO Mark Wilson received £1.8m in 2018

Annual report reveals his pay fell compared to 2017 as new CEO Maurice Tulloch saw his income increase by almost £1m. from Insurer - insuranceage.co.uk https://ift.tt/2Fzdqh5

Berkley FinSecure Launches Embezzlement Insurance for Investors

Berkley FinSecure, a Berkley Company, has launched Capital Shield, an insurance product that covers individuals for embezzlement of their invested assets. The product has been launched with Capital Shield Inc. and Capital Shield Insurance Services and covers individual investors in … from News – Insurance Journal https://ift.tt/2TDzP1O

Trump Eyes Bipartisan Deals on Infrastructure and Drug Prices

U.S. President Donald Trump is willing to work with congressional Democrats to lower drug prices for Americans and on infrastructure funding, White House adviser Kellyanne Conway said on Tuesday. Conway said the Trump administration considered those two issues as areas … from News – Insurance Journal https://ift.tt/2us8k1b

Lloyd’s Forms Plan to Create Safe, Inclusive Working Environment After Harassment Reports

Lloyd’s announced “a robust plan of action to address reports of sexual harassment in the Lloyd’s market and create a safe and inclusive working environment.” The plan has been developed in collaboration with and endorsed by Lloyd’s Board and Council, … from News – Insurance Journal https://ift.tt/2YtRIUL

In ‘Trump Country’ Farm Belt, Flooding Woes Add to Trade War Stress

Nebraska grain farmer Ryan Ueberrhein was barely breaking even after the U.S.-China trade war pushed prices for his soybean crop to a decade low. Then the nearby Elkhorn River burst its banks as flooding swept across the U.S. farm belt. … from News – Insurance Journal https://ift.tt/2YsKksn

Universal Insurance Holdings Enters Illinois’ Homeowners Market

Universal Property & Casualty Insurance Co. (Universal Property), a subsidiary of Universal Insurance Holdings Inc., has entered the market for homeowners insurance in Illinois. The company is now offering homeowners insurance in 18 states. Universal Property policies may be purchased … from News – Insurance Journal https://ift.tt/2HTUfl9

Shipping Resumes in Houston Channel Closed After Chemical Tank Fire

The U.S. Gulf Coast’s most important industrial waterway partially reopened on Monday after it was polluted with cancer-causing benzene and toxic runoff from the region’s worst chemical disaster in more than a decade. A two-mile (3.2-kilometer) stretch of the Houston … from News – Insurance Journal https://ift.tt/2US62UC

Arkansas Insurance Department Warns of Fake Auto Policy Scam

Arkansas Insurance Commissioner Allen Kerr is warning consumers in his state to be wary of individuals posing as car insurance agents to sell fraudulent policies at car dealerships. In a media release, Kerr said the Criminal Investigation Division at the … from News – Insurance Journal https://ift.tt/2TAhUJq

Normandy Insurance Expands Workers’ Comp Coverage to Arkansas

Deerfield Beach, Florida-based workers’ compensation carrier Normandy Insurance Co. is now offering workers’ compensation insurance to small, mid-size and large businesses in Arkansas. The company said it has entered four new states in 2019. In addition to Arkansas, Normandy now … from News – Insurance Journal https://ift.tt/2FAltLQ

Trump Administration Changes Course, Asks Court To Strike Down ACA

California Grower Recalling Avocados Over Listeria Fears

A Southern California company is voluntarily recalling whole avocados over possible listeria contamination. Henry Avocado, a grower and distributor based near San Diego, said Saturday that the recall covers conventional and organic avocados grown and packed in California. The company … from News – Insurance Journal https://ift.tt/2WmXpBN

Washington City Planning Big Driver Bike, Pedestrian Safety Changes

A Washington city is planning changes to make streets safer for drivers, bicyclists and pedestrians. Bellingham residents can expect to see substantial changes to thoroughfares over the next few months as the city continues work on its long-term effort to … from News – Insurance Journal https://ift.tt/2HN4YPd

California to Waive Environmental Rules to Prep for Wildfire Season

California Gov. Gavin Newsom has moved to bypass environmental regulations to prepare for the next wildfire season, a move he said was necessary to prevent further loss of life even as it frustrated activists in a state viewed as a … from News – Insurance Journal https://ift.tt/2WolOa4

New Jersey Legal Marijuana Bill Pulled Over Lack of Support

New Jersey’s planned legislative vote on legalizing recreational marijuana was canceled as Senate President Steve Sweeney said it didn’t have enough support to pass. The bid to end the state’s prohibition was supported by Governor Phil Murphy, fellow Democrats who … from News – Insurance Journal https://ift.tt/2HS5r1G

Bills on Tap at Massachusetts Statehouse Target Lead in School Water

Lawmakers on Beacon Hill are pushing legislation aimed at improving the safety of drinking water in schools in part by requiring schools and child care centers to test every drinking water outlet each year for elevated lead levels. Legislation on … from News – Insurance Journal https://ift.tt/2UVeRgz

NTSB Says Plane Didn’t Slip; It Entirely Missed Maine Runway

The National Transportation Safety Board says a United Express regional jet didn’t slide off a runway in Maine – it missed the runway altogether. A preliminary report indicates the 50-seat Embraer 145 approached to the right of the runway on … from News – Insurance Journal https://ift.tt/2uvcRA4

First Central Insurance & Technology takes CEO from Hastings

Firm denies immediate plans to list as former Hastings MD Michael Lee joins the business. from Insurer - insuranceage.co.uk https://ift.tt/2WnSjVR

African Bank Expands into Digital Banking, with Plans to Offer More Insurance Products

African Bank Holdings Ltd. is joining the rush into digital banking to fail-proof the business and provide an exit for shareholders that resurrected the South African lender from its collapsed former parent. The firm’s unusual owners, which includes the South … from News – Insurance Journal https://ift.tt/2HTY0a1

Norsk Hydro Returns Major Production Division to 60% of Capacity After Cyber Attack

Norsk Hydro, one of the world’s largest aluminum producers, said on Monday one of its major divisions was back up to 60 percent of capacity after a cyber attack earlier in March. The cyber attack forced the company to shut … from News – Insurance Journal https://ift.tt/2HT8ab9

#Insagepeople: 25 - 29 March 2019

Stay up to date with the latest people moves. from Insurer - insuranceage.co.uk https://ift.tt/2HUfRh2

Price Of A Brace Brings Soccer Player To His Knees

Tropical Cyclone Idai Destroyed More Than $1B of Southern Africa Infrastructure: UN

A cyclone that tore across southern Africa this month may have destroyed more than $1 billion of infrastructure, the United Nations said, as the death toll from the storm climbed to more than 700. After devastating Mozambique’s port city of … from News – Insurance Journal https://ift.tt/2UVUxvt

UK Parliament Seizes Control of Brexit Process from Prime Minister May

The U.K. Parliament seized control of the Brexit process from Prime Minister Theresa May and will now seek to decide how Britain exits the European Union. In a vote late Monday, the House of Commons split 329 to 302 to … from News – Insurance Journal https://ift.tt/2Yq20VR

French Activist Fund Aims to Remove SCOR CEO Kessler from Board