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Showing posts from November, 2019

Texas Chemical Plant Fire Brought Under Control

AUSTIN, Texas , NOV. 29 —Officials lifted evacuation orders Friday for around 50,000 people on the Texas Gulf Coast, determining a massive fire was finally under control at a chemical plant rocked by two major explosions three days earlier. “We … from News – Insurance Journal https://ift.tt/34wBwo9

More Storms. Less Damage. But 2019’s Slow Hurricanes Leave Sense of Foreboding.

The Atlantic Ocean has spawned lots of storms this season while doing much less damage than prior years. But warming waters promise trouble ahead. The 2019 Atlantic hurricane season, which ends Nov. 30, has been the eighth most-active in named … from News – Insurance Journal https://ift.tt/2OyeK9N

The Insurance Age Podcast: 29 November 2019

Siân Barton and Ida Axling discuss this week's most popular news stories, including a restructure at MS Amlin and redundancies at RSA. from Insurer - insuranceage.co.uk https://ift.tt/2stZVN3

Lloyd’s closes doors amid London Bridge incident

Announcement from the market follows BBC reports of gunfire in the London Bridge area. from Insurer - insuranceage.co.uk https://ift.tt/34zjzVU

Fitch Ratings predicts fall in insurer profitability in 2020

Fitch warns that the FCA's potential ban on dual pricing can lead to "significant strain" as it declares a negative outlook for UK home and motor insurers. from Insurer - insuranceage.co.uk https://ift.tt/2DpISOq

Quizzical questions: 29 November 2019

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

Aviva Renewable Energy launches exclusively through UK brokers

Offering is targeting renewable energy companies that operate domestically and abroad. from Insurer - insuranceage.co.uk https://ift.tt/2OSFUHz

Markerstudy confirms loan deal with QIC

The organisation was due to pay back a £240m+ loan at the start of December but has reached an agreement to restructure it. from Insurer - insuranceage.co.uk https://ift.tt/2ssih0X

Markerstudy promises to meet deadline as multi-million loan payment looms

Company must pay more than £108.6m to Qatar Re on 1 December and owes more than £240m in total. from Insurer - insuranceage.co.uk https://ift.tt/2OVaqAi

H.W Kaufman seeks to grow in UK MGA space

Business will move forward in the UK under the Burns & Wilcox brand following the Barbican Protect buy. from Insurer - insuranceage.co.uk https://ift.tt/33u1qro

D&O rate increases hit 77.3%, reports Marsh

Company warned that there is no end in sight to the recent rate hikes in the sector. from Insurer - insuranceage.co.uk https://ift.tt/2spUgaO

Thanksgiving Risk Management Alert: Don’t Wash That Turkey!

Go ahead and rinse your cranberries, potatoes and green beans. But food say experts say don’t — repeat don’t — wash the turkey before popping it in the oven on Thanksgiving Day. They say that could spread the germs lurking … from News – Insurance Journal https://ift.tt/2KYEkT7

Insurance Companies Sue Government Over Gatlinburg Fire

More than 40 insurance companies sued the federal government last week over its handling of a 2016 Tennessee wildfire that killed 14 people and destroyed or damaged more than 2,500 buildings in Sevier County. The Knoxville News Sentinel reports the … from News – Insurance Journal https://ift.tt/2OLFpPo

Marsh Hires Crain as HealthCare Practice Leader for Northeast Zone

Marsh, an insurance broker and risk adviser, has hired Ethan Crain as HealthCare practice leader for the Northeast zone. Based in Boston, Mass., Crain reports to Chris Roak, Northeast zone leader. In this newly created role, Crain is responsible for … from News – Insurance Journal https://ift.tt/2DoSicM

Maine’s The MEMIC Group Hires LaCrosse, Romano

Jason LaCrosse has been appointed a safety management consultant by Portland, Maine-headquartered workers’ compensation specialist The MEMIC Group. LaCrosse began his career in the military, starting off as a flight medic before becoming a blackhawk instructor pilot and aviation safety … from News – Insurance Journal https://ift.tt/2OteOrD

AXA XL Buys London-Based Title Insurance Agency, Agrees to Buy Mexico Title Insurer

AXA XL announced it has completed the acquisition of Secure Legal Title Ltd., a London-based insurance agency and Lloyd’s approved coverholder, with operations in the U.K., Europe, India and the Americas. Founded in 2012, Secure Legal Title provides insurance to … from News – Insurance Journal https://ift.tt/37EqGyh

Bankrupt Philadelphia Refiner Seeks $2.5M in Executive Bonuses

The bankrupt Philadelphia Energy Solutions oil refiner is seeking a minimum of $2.5 million in bonus payments to the refiner’s top executives as part of a plan to reorganize or sell the company, U.S. bankruptcy court filings show. This would … from News – Insurance Journal https://ift.tt/35H94Qq

Senate Democrats’ Bill Would Establish Consumer Rights Over Internet Data, Privacy

Democratic senators proposed legislation on Tuesday that would set penalties for online companies like Alphabet Inc.’s Google and Facebook Inc. if they mishandle users’ personal data. The measure comes at a time when the luster of the Big Tech platforms, … from News – Insurance Journal https://ift.tt/2OP2Qax

Uber’s London License Ban Marks Global Regulatory Backlash for Ride-Hailing Firms

Uber Technologies Inc. and its rivals disrupted global transport, riding on a lack of regulation to drive exponential growth. Now, regulators are closing in. London’s transport authority banned Uber for a second time on Monday, citing concerns about customer safety … from News – Insurance Journal https://ift.tt/33p8Wnd

MS Amlin restructures and reveals leadership changes

Move follows on from its decision to pull out of nine business lines and sees CEO Beale and chief underwriter Illingworth step down from their current roles. from Insurer - insuranceage.co.uk https://ift.tt/2QWcVVG

MS Amlin Launches New Operating Model and Senior Leadership Team

MS Amlin, the London-based re/insurer, announced a new operating model and senior leadership team in response to the recent decision by its parent company, MS&AD, to reorganize its international businesses. This reorganization involves the removal of the regional holding company … from News – Insurance Journal https://ift.tt/2XPLjmR

Germany’s Green Vault Museum Finds It’s Uninsured for $1 Billion Theft of Jewels

By Stefan Nicola A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to … from News – Insurance Journal https://ift.tt/35yqG0W

News analysis: Are brokers still in love with Gibraltar insurers?

The recent run of Gibraltar-based insurer insolvencies has made the headlines, but the low tax and light-touch regulations in the jurisdiction attract UK businesses and InsurTech start-ups. Martin Friel investigates why brokers are still dealing with insurers on the island. from Insurer - insuranceage.co.uk https://ift.tt/33uo4jv

Blog: Broking risks in a hard and complex market

Marcus Campbell and Graham Briggs of DAC Beachcroft explain how brokers can weather the storm of a hardening market. from Insurer - insuranceage.co.uk https://ift.tt/33qb7Hl

Three in five brokers suffer from work-related stress

Research from Ecclesiastical shows that brokers working for national networks are significantly more likely to experience a mental health issue than brokers working for regional and provincial brokers. from Insurer - insuranceage.co.uk https://ift.tt/2OmOVJQ

‘An Arm And A Leg’: A La ‘Hamilton,’ Revue Takes On History Of Health Insurance

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Can’t see the audio player?  Click here to listen. About This Podcast Health care — and how much it costs — is scary. But you’re not alone with this stuff, and knowledge is power. “An Arm and a Leg” is a podcast about these issues, and its second season is co-produced by KHN. Visit armandalegshow.com “ Bills, Bills, Bills ” — the 1999 hit from mega-group Destiny’s Child — has gotten a remix of sorts from the New York City musical troupe Heck No Techno. The troupe’s show “ Explanation of Benefits ” charts the history of the U.S. health care system, borrowing Beyoncé swagger and adding new lyrics: Can you pay my bills? Can you pay my medical bills? Can you pay my deducti-bills? So maybe I can get my pills? The musical revue, staged earlier this year, starts with hospital prepayment plans from the 1920s, traces the origins of insurance giant Blue Cross and dances through decades of health policy twists, including a light skewering of the Affordable Care Act. Th...

Lawyer Says OSHA Looking into Arrest of Worker in New Orleans Hotel Collapse

The Occupational Safety and Health Administration is investigating allegations that the immigration arrest of a construction worker hurt in the collapse of the Hard Rock Hotel construction site in New Orleans was retaliation for his reports about problems at the … from News – Insurance Journal https://ift.tt/2Omnsbd

Texas Orthopedic Surgeon to Pay $300K to Settle False Claims, Kickback Case

The U.S. Attorney’s Office for the Northern District of Oklahoma reported that a Texas surgeon has agreed to resolve False Claims Act allegations that he accepted illegal kickback payments from OK Compounding LLC for $300,000. This is the twelfth kickback … from News – Insurance Journal https://ift.tt/2QV69zv

Post-Tornado ‘Green’ Rebuild Considered a Mixed Success in Greensburg, Kansas

A dozen years after a tornado nearly wiped out Greensburg, Kansas, city leaders acknowledge that the decision to rebuild as “the greenest community in America” has been a mixed success. The E-5 tornado on May 4, 2007, killed 11 people … from News – Insurance Journal https://ift.tt/2QVSMiS

Gordon, Reynolds Promoted Within Great American’s Property/Casualty Group

Cincinnati, Ohio-based Great American Insurance Group has promoted Roy Reynolds to divisional president and Garry Gordon to divisional senior vice president within its Property & Casualty Group, Mergers & Acquisitions (M&A) Liability Division. Reynolds joined Great American in December 2015 … from News – Insurance Journal https://ift.tt/2R10VCi

Confie Rebrands Its Standard Business as InsureOne; Retains Freeway Brand for Nonstandard

Confie, a national agency for personal and commercial lines insurance, has consolidated its standard personal and commercial Insurance businesses across the U.S. into one entity named InsureOne. While the InsureOne brand will be used for national standard lines accounts, the … from News – Insurance Journal https://ift.tt/2KXbgLI

Farewell 2019 Atlantic Hurricane Season: 18 Storms, 6 Hurricanes

The 2019 Atlantic hurricane season, which ends on November 30, was marked by tropical activity that churned busily from mid-August through October, according to the National Oceanic and Atmospheric Administration (NOAA). The season produced 18 named storms, including six hurricanes … from News – Insurance Journal https://ift.tt/2qFJJYC

Lawmakers Question Airbnb Over Rental Listings in Violation of Local Laws

U.S. lawmakers are asking Airbnb Inc. to provide information about hosts that list short-term rentals on the site who don’t comply with local laws and violate the company’s own policies. In a letter to Airbnb Chief Executive Officer Brian Chesky, … from News – Insurance Journal https://ift.tt/2rwgQOk

Vegan Suing Burger King Over Its ‘Impossible Whopper’ Has a Real Beef: Viewpoint

Is it really true that Burger King’s new Impossible Whopper is, as the ads claim, “100% Whopper, 0% beef”? A lawsuit just filed in federal court in Florida insists that the answer is no. The answer matters. The Impossible Whopper, … from News – Insurance Journal https://ift.tt/35E7BdY

McDonald’s Will Pay $26 Million to Settle California Wage, Overtime, Break Claims

McDonald’s Corp. agreed to pay $26 million to settle a nearly seven-year-old lawsuit accusing the fast food chain of underpaying U.S. staff at its corporate-owned restaurants in California. The preliminary settlement resolves claims that the company used a timekeeping system … from News – Insurance Journal https://ift.tt/2qD6b4F

Online Scams Are Catching Newly Vulnerable Icelanders Unprepared

“Hi, I hope you are not busy?” The treasurer of the Icelandic soccer club Afturelding got the email from his manager late in the afternoon, soon before banks were about to close. The words “Sent from my iPhone” were at … from News – Insurance Journal https://ift.tt/34nGZxw

AXIS Capital’s Losses from Japan’s Typhoon Hagibis Estimated at $90M-$110M

AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Japanese Typhoon Hagibis in the range of $90 million to $110 million, net of estimated recoveries from reinsurance and retrocessional covers, and including the impact of estimated reinstatement premiums. … from News – Insurance Journal https://ift.tt/2DkJvbP

Health Department Links Salmonella Outbreak to North Carolina Restaurant

Health officials say a barbeque restaurant in North Carolina may have sickened about a dozen people with salmonella. A press release from the Nash County Health Department says the operating permit for Doug Saul’s Bar-B-Que & Seafood in Nashville, N.C., … from News – Insurance Journal https://ift.tt/35ChKrr

Explosion at Dippin’ Dots Production Facility in Kentucky Injures Four

Authorities say an explosion at the Dippin’ Dots production facility in Kentucky has injured four people. Dippin’ Dots CEO Scott Fischer says the explosion occurred in a production area around 10 p.m. Friday evening. Fischer said in a release that … from News – Insurance Journal https://ift.tt/2DjpGlk

Florida Investigating Attorney Charged with Lawsuit Fraud

The Florida Bar has opened an investigation of a New York lawyer who it says may have been practicing in Florida without a license. The Bar’s investigation of Stuart Finkelstein stems from federal charges this week alleging that he filed … from News – Insurance Journal https://ift.tt/2pXi2dq

Massachusetts Attorney General Issues Asbestos Safety, Enforcement Report

Massachusetts Attorney General Maura Healey has released a report highlighting her office’s ongoing efforts to protect children, families and workers from the health risks posed by exposure to asbestos. The report highlights the work of AG Healey’s “Healthy Buildings, Healthy … from News – Insurance Journal https://ift.tt/2QRWkSZ

BHSI Taps Warrior, Formerly with Hiscox, as Head of D&O Underwriting, UK & Ireland

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has expanded its European team with the addition of Chris Warrior as head of directors’ & officers’ liability underwriting for UK & Ireland. Warrior comes to BHSI with 36 years of experience … from News – Insurance Journal https://ift.tt/2KWpZXm

Massachusetts Police Warn of “Power” Heroin After Nine Overdoses in 16 Hours

Police in one Massachusetts community have issued a warning about a particular kind of heroin after responding to nine overdoses in 16 hours. Holyoke, Mass., police said Saturday that they believe each of the people who overdosed on Friday had … from News – Insurance Journal https://ift.tt/2XSwos6

Vermont Seeks Storm Damage Assessment of Private Property

Vermont is asking the Federal Emergency Management Agency to assess damage to private property from a storm beginning on Halloween to determine if the state qualifies for federal aid for homeowners and renters. The state says 323 Vermont homeowners and … from News – Insurance Journal https://ift.tt/37HUiL9

Thieves Steal Priceless Items from Dresden’s Treasury Green Vault; Hiscox Comments

Thieves have carried out a heist at Dresden’s Green Vault, one of the world’s oldest museum containing priceless treasures and jewels, German officials said Monday. The treasury of Augustus the Strong of Saxony was established in 1723 and today contains … from News – Insurance Journal https://ift.tt/2XMuzN2

AIG to Sell Most of Fortitude Re to Carlyle, T&D Holdings for $1.8 Billion

American International Group plans to sell the bulk of Fortitude Re to private equity firm The Carlyle Group and Japanese insurer T&D Holdings for $1.8 billion. Plans call for a newly created Carlyle-managed fund and T&D Holdings to acquire from … from News – Insurance Journal https://ift.tt/2OofONE

CFC unveils cyber risk heat map

Map ranks the severity of different industries’ exposures to business interruption, privacy, and cybercrime and includes a few examples of how these exposures can play out for various types of organisations. from Insurer - insuranceage.co.uk https://ift.tt/2QSFjs3

Mike Keating lifts the lid on claims-focused MGA

Qlaims Insurance's chief development officer discusses how the new product can help brokers differentiate themselves and considers the possibility of expanding into personal lines. from Insurer - insuranceage.co.uk https://ift.tt/2pQB70D

Missouri Contractor Faces $210K in Penalties for Workplace Safety Hazards

Federal workplace safety officials have proposed $210,037 in penalties against a Missouri contractor protect employees from trench collapse and electrical hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) inspectors observed workers exposed to trenching and excavation … from News – Insurance Journal https://ift.tt/2QRhPn6

Texas McDonald’s Franchisee Settles Sex Harassment Lawsuit for $340K

A McDonald’s franchise owner with locations in Texas pay $340,000 and furnish other relief to settle a federal sexual harassment lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) alleged in its lawsuit against Credle Enterprises LLC, which does business as … from News – Insurance Journal https://ift.tt/2XMLeA8

Spicer Joins Jewelers Mutual Leadership Team in Wisconsin

Neenah, Wisconsin-based insurer, Jewelers Mutual Group, has added Larry Spicer as vice president of Loss Prevention and Risk Management Services as David Sexton prepares for retirement after 39 years with Jewelers Mutual. Sexton steps down at the end of the … from News – Insurance Journal https://ift.tt/2QSXvS8

Texas Agency RHSB Adds Ausmus as Account Manager, Personal Client Services

Dallas-based independent insurance brokerage firm RHSB (Roach Howard Smith & Barton) has hired Cindy Ausmus as account manager in its Personal Client Services department. Ausmus replaced long time employee Liz O’Neall who retired in September. Ausmus has over 30 years’ … from News – Insurance Journal https://ift.tt/2XMLoYg

E-Cigarette Maker Juul Pulled Into Tobacco Product Liability Case

A Florida state court judge ordered the co-founder of the e-cigarette maker Juul Labs Inc. to answer questions under oath in a case involving a woman suing the cigarette-maker Philip Morris USA. While Juul has challenged the judge’s order, it’s … from News – Insurance Journal https://ift.tt/2QQPDAF

FEMA Envisions High-Tech Flood Insurance Program Using Parametrics, Blockchain

Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the … from News – Insurance Journal https://ift.tt/34nduvB

Can Ethics Be Taught? Study Assesses Ethics Training on Financial Sector Behavior.

Can ethics be taught? New research suggests yes, while offering the first large-sample study on how rules and ethics training affects behavior and employment decisions in the financial sector. “Can Ethics be Taught? Evidence from Securities Exams and Investment Adviser … from News – Insurance Journal https://ift.tt/33l68aX

Why E&S Carriers Aren’t Winners Over the Long Term

]ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons in an interview with Wells Media’s Andrew Simpson. Q: You talked about the winners … from News – Insurance Journal https://ift.tt/2rtSEMt

Confessions of a Diehard Data Fan: Part 2

After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk about winning carrier strategies. Pieroni, who discussed carrier growth and profit … from News – Insurance Journal https://ift.tt/2OPTnQu

Kentucky Police Say Three Workers Hit by Vehicle in Construction Zone

Kentucky State Police say a vehicle has struck three workers in a construction zone on the Bluegrass Parkway near Lawrenceburg, Kentucky. A statement from police says it appears that 18-year-old Dillan Waldridge of Willisburg entered the construction zone to avoid … from News – Insurance Journal https://ift.tt/2KTQlcB

Florida Woman Found Guilty of Hurricane Irma Relief Fraud

A Florida woman has been convicted of fraudulently obtaining Hurricane Irma disaster relief money. Court records show that 37-year-old Karen Latrice Houston was convicted by a jury in Tampa federal court this week of three counts of theft of government … from News – Insurance Journal https://ift.tt/2DbvrBD

Tests Reveal High Level of Radioactive Gas in Alabama Public Housing

Huntsville, Ala., housing officials aren’t saying what they will do about independent testing that found high levels of radioactive gas in public housing. Al.com reports that the testing found high levels of radon in apartments owned by the Huntsville Housing … from News – Insurance Journal https://ift.tt/2pO4rF3

Massachusetts Lawmakers Pass Ban on Flavored Vaping, Tobacco Products

Massachusetts lawmakers passed a groundbreaking ban Thursday on the sale of flavored tobacco and vaping products, including menthol cigarettes. The bill would also place a 75% excise tax on vaping products and require health insurers, including the state’s Medicaid program, … from News – Insurance Journal https://ift.tt/2DkVmXj

Drzik, Marsh’s President, Global Risk and Digital, to Step Back From Full-Time Role

Marsh, the insurance broker and risk adviser, announced that John Drzik, president, Global Risk and Digital (GR&D), will step back from full-time responsibilities as leader of GR&D effective Jan. 1, 2020, but will remain involved with the business as a … from News – Insurance Journal https://ift.tt/2rtmn8j

DeCotis Specialty Insurance Hires Jones as Director of Marketing

DeCotis Specialty Insurance has hired Robert Jones as director of Marketing. In this position, Jones is responsible for expanding awareness of the company’s services and value beyond its existing footprint in the New England and Mid-Atlantic regions. Jones brings more … from News – Insurance Journal https://ift.tt/2QQlYb0

Trump Regulatory Rollback Targets Safety Rules Prompted by Industrial Disasters

The Trump administration’s move to relax an Obama-era chemical safety regulation put in place after an explosion at a fertilizer plant is the latest example of the White House easing rules established in the wake of disasters. Trump’s professed goal … from News – Insurance Journal https://ift.tt/2KSUmhl

Chubb to Buy Additional Stake in China’s Huatai Insurance for $1.53B

Insurer Chubb Ltd said on Monday it will buy an additional 22.4% stake in Chinese insurer Huatai Insurance Group Co. Ltd. for 10.8 billion yuan ($1.53 billion). Chubb, which already holds nearly 27% stake in Huatai, said it would first … from News – Insurance Journal https://ift.tt/2KRrKFm

Extreme Weather in Greece Brought $1.1 Billion in Crop Damages Since 2011

In the hills of northern Greece, peach farmer Makis Antoniadis is sweating in unseasonably warm November weather as he toils with his most recent harvest. It might be one of his last. Already grappling with the effects of climate change, … from News – Insurance Journal https://ift.tt/33kxkGu

UK-wide redundancies underway at RSA

It is believed that broker-facing roles will be impacted. from Insurer - insuranceage.co.uk https://ift.tt/33k5UAA

Generali Prepares to Make Formal Bid for MetLife’s European Assets: Sources

Assicurazioni Generali SpA is preparing to make a formal bid for the European assets of MetLife Inc. following months of talks, people with knowledge of the matter said. The Italian insurer has been finishing due diligence and aims to make … from News – Insurance Journal https://ift.tt/2QP2jb7

Uber Loses London License for Failures on Safety and Security

The Uber ride-hailing service was stripped of its London operating license on Monday for the second time in just over two years, subject to appeal, after the regulator found a “pattern of failures” on safety and security. A change to … from News – Insurance Journal https://ift.tt/2DgQ27E

Philippines Taps Catastrophe Bonds to Help Pay for Natural Disasters

The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. The dual-tranche transaction consists of a $150 million issuance against losses from tropical … from News – Insurance Journal https://ift.tt/2OIBwe8

Last-Minute Loophole Could Undermine Texas Law Against Surprise Medical Bills

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Drew Calver (center) of Austin, Texas, received a surprise bill of more than $100,000 after a heart attack. His story and others liked it sparked bipartisan legislation in Texas against the practice. He and his wife, Erin, joined President Donald Trump at the White House in May for an event about ending surprise medical billing. (Screenshot from a White House video ) This story is part of a partnership that includes KUT , NPR and Kaiser Health News. This story can be republished for free ( details ). Texas’ bipartisan effort to shield patients from surprise medical bills could be weaker than lawmakers intended when it takes effect Jan. 1. Earlier this year, lawmakers from both parties came together on legislation to protect people in state-regulated health plans from getting outrageous bills for out-of-network care. The new law, known as Senate Bill 1264, creates an arbitration process for insurers and providers to negotiate fair prices in those cases. The intention of the l...

Ex-One Commercial boss Mike Keating launches MGA

Qlaims Insurance's product will initially be available to brokers on the Acturis platform and capacity is provided by HSB Engineering Insurance. from Insurer - insuranceage.co.uk https://ift.tt/2qLKT4y

AM Best Withdraws Credit Ratings of Members of Wisconsin County Mutual Group

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” of Community Insurance Corporation and Wisconsin County Mutual Insurance Corp., both domiciled in Madison, Wisconsin. They are collectively referred to as … from News – Insurance Journal https://ift.tt/35uVzTX

Oklahoma AG to Appeal Judge’s Opioid Ruling in J&J Case

Oklahoma Attorney General Mike Hunter says he plans to appeal a judge’s order directing consumer products giant Johnson & Johnson to pay the state $465 million to help address the state’s opioid crisis. Hunter said the judge’s final order only … from News – Insurance Journal https://ift.tt/34k1dIj

Pankotai Joins IMA in Dallas as Team Sr. VP, Director of Client Services

IMA Inc., a national insurance broker specializing in property/casualty insurance, employee benefits and surety bonds, has added Donna Pankotai in its Dallas office as team senior vice president and director of Client Services within its property/casualty division. With more than … from News – Insurance Journal https://ift.tt/35oB7US

Texas-Based Sales and Marketing Company to Settle Disability Lawsuit for $2.65M

A Plano, Texas-based international sales and marketing company that provides food demonstrators to major American retailers and warehouse stores, will pay $2.65 million and furnish other relief to settle a federal disability discrimination lawsuit. The U.S. Equal Employment Opportunity Commission … from News – Insurance Journal https://ift.tt/2OgEPdl

Home Insurance Insurtech Hippo Buys Home Services Startup Sheltr

Digital home insurance managing general agency Hippo Insurance has acquired an early-stage startup in a bid to beef up its digital home insurance services for clients, Carrier Management reported. The insurtech said it acquired Sheltr, a San Francisco-based tech-enabled services … from News – Insurance Journal https://ift.tt/2XOQBij

ACORD Study Results: Loser Lessons

As for the waning carriers, why did they wane? Why didn’t they grow and why did they achieve inferior economics? Pieroni said there are a number of reasons but the top ones include inability to execute change. The researchers reviewed … from News – Insurance Journal https://ift.tt/2OeixZI

How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study

Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers”—those that succeed at both, not only growing but also creating value. Intelligent growers— that’s the … from News – Insurance Journal https://ift.tt/2qFS6TK

Confessions of a Diehard Fan of Data: An Interview With ACORD CEO Pieroni (Part 1)

If Bill Pieroni were a Major League Baseball executive, he would be one of those sabermetric types like Oakland’s Billy Beane, heralded by the book “Moneyball.” His team’s manager would have spreadsheets on an iPad, and his team would use … from News – Insurance Journal https://ift.tt/2QOvziy

Readers React: UVA Doctors Outraged Over Their Own Health System’s Billing Practices

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Letters to the Editor is a periodic feature. We  welcome all comments  and will publish a selection. We edit for length and clarity and require full names. First Do No Harm: When Financing Health Care Becomes Unethical We attribute the oldest text of ethics in Western medical practice to Hippocrates (460-370 A.D.), a Greek physician whose oath instructs, “I will use treatment to help the sick according to my ability and judgment, but never with a view to injury and wrong-doing.” Most doctors, having pledged that oath upon entering the profession, recall best its later paraphrasing primum non nocere , first do no harm. As physicians at UVA Health and educators at the University of Virginia, we were appalled by the revelations of the aggressive, pitiless billing and collections practices, first reported in The Washington Post based on an investigation by Kaiser Health News (“ ‘UVA Has Ruined Us’: Health System Sues Thousands Of Patients, Seizing Paychecks And Claiming Home...

Video Shows Lyft Driver Dragging Woman from Car in California

Los Angeles police say they’ve cited a Lyft driver for misdemeanor battery after video showed him dragging a passenger out of a car. Alessandra Ward says she suffered a black eye, bruises and a possible concussion after the man pulled … from News – Insurance Journal https://ift.tt/2qsy9zZ

The PURE Group of Insurance Companies Appoints Hourihan SVP, Chief Growth Officer

The PURE Group of Insurance Companies, which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high-net-worth individuals and families, has appointed Jerry Hourihan as senior vice president and chief growth officer. Hourihan will be … from News – Insurance Journal https://ift.tt/2s1BAhc

Brightway Insurance Promotes Spendley to VP of Accounting Operations

Brightway Insurance, an insurance retailer and personal lines insurance agency, has promoted Jess Spendley to vice president of Accounting Operations. In this role, Spendley joins the executive team of the franchiser. Spendley started at Brightway as an Accounting intern while … from News – Insurance Journal https://ift.tt/35rBDRQ

More Than $270K in Fines Issued Against Firms in Massachusetts, Pennsylvania

Investigations by the Connecticut Department of Labor’s Wage and Workplace Standards Division into complaints of workers being improperly employed at a large poultry plant in Bozrah has led to fines of more than $270,000 and hundreds of violations against the … from News – Insurance Journal https://ift.tt/2O93qAN

Study Says Medical Payments Per Workers’ Comp Claim Decreased in North Carolina

Medical payments per claim in North Carolina decreased five to seven percent per year since 2014, according to a recent study by the Workers Compensation Research Institute (WCRI). These decreases likely reflect fee schedule changes for hospitals and ambulatory surgery … from News – Insurance Journal https://ift.tt/35utLiL

AM Best Revises Outlooks to Positive for South Carolina’s Canal Group

AM Best has revised the outlooks to positive from stable and affirmed the financial strength rating of B++ (good) and the long-term issuer credit ratings of “bbb+” of Canal Insurance Company and Canal Indemnity Company, collectively referred to as Canal … from News – Insurance Journal https://ift.tt/2XETulN

13 Workers from a New Hampshire Company Treated at Hospital After Chemical Incident

Authorities say 13 people from a New Hampshire company were taken to hospitals and more than 50 others were evacuated after being exposed to a chemical. The incident at Fluid Air, a subsidiary of Spraying Systems Co., in Merrimack, happened … from News – Insurance Journal https://ift.tt/2rgDudH

Feds Say Florida Officials Bilked FEMA Out of Hurricane Money

Two former officials of a Florida city are charged with conspiring with two businesses to bilk the federal government out of $5 million in Hurricane Michael cleanup money, the U.S. attorney’s office announced Tuesday. U.S. Attorney Lawrence Keefe said the … from News – Insurance Journal https://ift.tt/2pIOu35

Allianz teams up with restoration firm to speed up claims process

Brokers and customers will be able to track repairs online using a bespoke reporting platform. from Insurer - insuranceage.co.uk https://ift.tt/2D85Jhb

U.S. Offers $30 Million in Grants to Help Coastal Areas Mitigate Flooding, Rising Seas

The U.S. government’s oceans and waterways agency will provide $30 million to improve coastal resilience, officials said, aiming to reduce the impacts of worsening storms, flooding and rising seas in nearly half of U.S. states. Grants through the program are … from News – Insurance Journal https://ift.tt/2OeT4j3

Former Ironshore, Lexington CEO Kelley to Retire at Year’s End from Liberty Mutual

Liberty Mutual Insurance today announced that long-time industry leader Kevin H. Kelley, vice chairman, Global Risk Solutions, will retire at the end of this year. In 2017, Kelley joined Liberty Mutual following the company’s acquisition of Ironshore Inc., where he … from News – Insurance Journal https://ift.tt/2qB5VTy

Australia’s Westpac Bank Apologizes for Money Laundering, Links to Child Abuse Funds

Westpac Banking Corp.’s board stood behind its management team on Friday, offering embattled chief executive Brian Hartzer some respite from mounting criticism over allegations of a breach of money-laundering laws, including failing to detect payments linked to child abuse. Chairman … from News – Insurance Journal https://ift.tt/2OdxoDY

Quizzical questions: 22 November 2019

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

People Moves Round-up: 18-22 November 2019

Keep up to date with the latest market moves. from Insurer - insuranceage.co.uk https://ift.tt/2OE7CYg

Arch Re to Buy Aspen Re’s Global Credit and Surety Reinsurance Business

Arch Reinsurance, a subsidiary of Arch Capital Group Ltd., is acquiring Aspen Reinsurance’s global credit and surety reinsurance business after Aspen Re decided to exit the line. In addition to the renewal rights on the portfolio, Arch and Aspen have … from News – Insurance Journal https://ift.tt/348LMTu

Uber in London Awaits Decision on License Renewal in Its Important European Market

London’s transit authority is set to announce as soon as Monday whether it will grant Uber Technologies Inc. a new license to operate. If Transport for London decides against the company, Uber could face expulsion from its most important European … from News – Insurance Journal https://ift.tt/2OcM1Y1

It’s Obamacare Season. Here’s What You Need To Know.

During Wednesday night’s Democratic presidential debate, candidates touched on “Medicare for All,” “Medicare for all who want it” and other ways to reform the American health system. But in the backdrop, it’s once again Obamacare sign-up season. Despite repeated efforts by Republicans in Congress to undo the Affordable Care Act, the controversial law’s seventh open-enrollment period launched this month to relatively little fanfare. It ends Dec. 15. Email Sign-Up Subscribe to KHN’s free Morning Briefing. Sign Up Please confirm your email address below: Sign Up Individual plans for 2020 are cheaper — premiums are lower, on average, and in some areas people who qualify for government subsidies could end up with no monthly payment.  Meanwhile, a pending court case threatens to overturn the entire law, with no clear replacement plan in the works. All these factors have combined to create a cloud of confusion and misunderstanding — some even say misinformati...

One Critically Injured in Fire at Texas Oilfield Site

One person was seriously injured in a Midland, Texas, explosion and fire on Thursday involving several storage tanks and a truck used in oilfield operations, city and hospital officials said. The fire was contained at the property owned by petroleum … from News – Insurance Journal https://ift.tt/2XE5dkl

MRI Software Acquires Ohio’s Multifamily Insurance Partners

MRI Software (MRI), a global provider of real estate software, has acquired Ohio-based Multifamily Insurance Partners, which provides resident insurance programs for the US multifamily rental market. The launch of MRI Multifamily Insurance gives property managers more choice when it … from News – Insurance Journal https://ift.tt/2O8C5Pk

Clark to Take Over as CEO of HDI Global USA in Chicago; Diericx Named President

Chicago-based HDI Global Insurance Co. (HDI Global USA) has appointed Jim Clark as its chief executive officer, effective Jan. 1, 2020. Brad Diericx, chief financial officer of HDI Global USA since 2014, will assume the role of president. Clark, who … from News – Insurance Journal https://ift.tt/2QJgoHc

McDonald’s Employees’ Suit Claims Store Redesign Abets Workplace Violence

McDonald’s Corp. employees on Thursday sued the fast food giant and several of its franchisees in Chicago over a store redesign that staffers say has made it easier for angry customers to leap over the counter and attack them. The … from News – Insurance Journal https://ift.tt/37sCdR8

Disappointed Fans Lose Fight Over Mayweather-Pacquiao Boxing Match

A U.S. appeals court on Thursday said boxing fans who felt cheated after learning that Manny Pacquiao had been injured before fighting Floyd Mayweather Jr. cannot pursue class-action litigation because the 2015 welterweight bout dubbed the “Fight of the Century” … from News – Insurance Journal https://ift.tt/335N7cp

Uber Audio, Video Recording of Trips for Safety Raises Privacy Worries

Uber Technologies Inc. is adding video and audio recording for more trips — a move designed to make the service safer and help settle disputes, but which has triggered privacy concerns about the personal information the ride-hailing giant collects. Uber … from News – Insurance Journal https://ift.tt/2O7veFH

Auto Safety Advocates Oppose FCC Plan for Sharing Unused Spectrum With Wi-Fi

A little-used block of spectrum set aside for auto safety should be split to accommodate the rapidly growing number of wireless devices, the chairman of the U.S. telecoms regulator said on Wednesday, a plan that sets up a clash between … from News – Insurance Journal https://ift.tt/2rY5ZwS

Lawsuit Alleges Uber ‘Cheats’ Public by Avoiding Worker Insurance Payments, Taxes

Uber Technologies Inc. faces a new legal attack on its refusal to treat drivers as employees that depicts the company as mistreating not just them but the public at large. A lawyer who’s been fighting the ride-hailing giant in court … from News – Insurance Journal https://ift.tt/2QCx7f9

OxyContin Is Being Sold in China by Company Owned by Sackler Family

Thousands of lawsuits across the United States have accused a drug company owned by the billionaire Sackler family of using false claims to push highly addictive opioids on an unsuspecting nation, fueling the deadliest drug epidemic in U.S. history. Yet, … from News – Insurance Journal https://ift.tt/2OvzNZC

My Chi To Named Executive Deputy Superintendent of Insurance in New York

New York Superintendent of Financial Services Linda A. Lacewell has appointed My Chi To as executive deputy superintendent of the Insurance Division at the Department of Financial Services (DFS), which regulates more than 1,400 insurance companies with assets of $4.7 … from News – Insurance Journal https://ift.tt/2qzU1cr

Maine Jury Awards More Than $1M in Hospital Negligence Case

A hospital in northern Maine has been ordered to pay more than $1.2 million in damages to a woman in a medical negligence lawsuit. A jury in Aroostook County found that Cary Medical Center in Caribou, Maine, didn’t properly treat … from News – Insurance Journal https://ift.tt/2pIK5gA

Ecclesiastical names former Zurich broker boss insurance MD

John Blundell, who is retiring, will hand over the reins to Richard Coleman in 2020. from Insurer - insuranceage.co.uk https://ift.tt/37A7wtA

Report Says Connecticut Has Highest Number of Metal Theft Claims in U.S.

A new report says Connecticut has had the most metal theft insurance claims in the country. The National Insurance Crime Bureau issued a report recently that found that Connecticut had the most metal theft insurance claims per capita in 2017 … from News – Insurance Journal https://ift.tt/2Xy5uW0

Statewide Overall Decrease of 7.5% Approved for Florida Workers’ Comp Rates

Florida Insurance Commissioner David Altmaier has issued a final order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall decrease of 7.5% for Florida workers’ compensation insurance rates. This applies to both new and renewal … from News – Insurance Journal https://ift.tt/2Ovp2q5

Sedgwick Appoints Manning as Head of Client Services, International Division

Sedgwick, the London-based provider of risk, benefits and integrated business solutions, announced the appointment of Wayne Manning as head of client services for its international division. With more than 25 years’ experience in insurance, claims and relationship management, Manning joins … from News – Insurance Journal https://ift.tt/2KHNQtU

The Hilb Group Acquires North Carolina’s Employee Benefit Advisors of the Carolinas

The Hilb Group LLC (THG) has acquired North Carolina-based Employee Benefit Advisors of the Carolinas LLC (EBA). The transaction became effective November 1, 2019. Located in Charlotte, N.C., EBA is a full-service employee benefits agency for small to mid-market businesses … from News – Insurance Journal https://ift.tt/2XFaOXN