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Showing posts from March, 2020

Coronavirus Relief Loans Will Be Available for Small Businesses Friday

The United States’ new $350 billion small-business coronavirus rescue loan program could see millions of applications when it launches on Friday, senior Trump administration officials said on Tuesday. Officials from the U.S. Treasury and Small Business Administration, which are jointly … from News – Insurance Journal https://ift.tt/3bEdF9d

Insurance Office of America Adds Carroll And Ballew in Nevada

Insurance Office of America has added Paul Carroll and Jeri Ballew to its employee benefits services division in Las Vegas, Nev. Carroll founded The Westek Group, which specializes in the design, implementation, and administration of employee benefit plans, where he … from News – Insurance Journal https://ift.tt/2wVEDKC

Chemours Claims Against DuPont Over Environmental Liabilities Left to Arbitration

A Delaware judge has granted the DuPont Co.’s request to dismiss a lawsuit alleging that it massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours. Vice Chancellor Sam Glasscock III ruled Monday that he has no jurisdiction … from News – Insurance Journal https://ift.tt/2wIVyjO

National Weather Service Confirms EF-2 Tornado Struck Kentucky

A tornado hit Henderson County over the weekend, damaging homes and downing trees and electrical poles, but no injuries were reported, according to The Gleaner. On Sunday, the National Weather Service office in Paducah confirmed that a tornado hit Henderson … from News – Insurance Journal https://ift.tt/2xJC7an

Marriott Reports Data Breach Affecting 5.2 Million Hotel Guests

Marriott International Inc. said on Tuesday information of about 5.2 million hotel guests was breached, the second such incident for the hotel operator in less than two years. It said the breached information, including contact details, loyalty account information and … from News – Insurance Journal https://ift.tt/2UxEIgN

P/C Insurance Industry Backs New Government Fund to Help Businesses, Workers Hurt by Coronavirus Shutdowns

The property/casualty insurance industry has joined a broad business coalition in supporting and crafting a new federal relief fund for businesses and workers affected by the quarantine and stay-at-home measures necessitated by the coronavirus crisis. The new relief vehicle, the … from News – Insurance Journal https://ift.tt/3dIwDgO

New Hampshire Fire Destroys Several Apartment Buildings, Displaces 12 Families

A fire in New Hampshire destroyed several apartment buildings Friday and displaced 12 families. Manchester fire officials say that two multi-level apartment buildings were complete losses, WMUR-TV reported. Several surrounding buildings and several cars were damaged as well. The fire … from News – Insurance Journal https://ift.tt/3aAMBra

Coronavirus Pandemic Reveals the Science of Risk That Shapes Our Lives

Hours after the results of a risk model reached the public, U.K. Prime Minister Boris Johnson and U.S. President Donald Trump asked nearly 400 million people to upend their lives. A group of epidemiologists at Imperial College London published the … from News – Insurance Journal https://ift.tt/2WYNg1U

Experts Count 100-Plus Aftershocks Since Nevada Quake

More than 100 small aftershocks were recorded since a 4.5 magnitude earthquake shook near Carson City on Friday, causing minor damages across the city, experts said. The largest recorded aftershock was a magnitude 3.2 temblor on Saturday, which could be … from News – Insurance Journal https://ift.tt/3dHFb7F

10 Nursing Homes in Colorado Have COVID-19 Outbreaks

The Colorado Department of Health has released the names and locations of nine of the 10 nursing homes and long-term care facilities that are facing outbreaks of COVID-19 in response to a public records request filed by The Denver Post. … from News – Insurance Journal https://ift.tt/2JFtvVj

Lawsuit Alleges Bullet at New Mexico School Harmed Student

The family of a boy is suing a police officer who mistakenly fired his weapon inside a southern New Mexico middle school and nearly hit the student. The family recently filed a lawsuit in U.S. District Court against officer Francisco … from News – Insurance Journal https://ift.tt/33Zxqp2

Maryland’s RCM&D Hires Kahn as Commercial Division Director

RCM&D, an independent risk management, insurance and employee benefits firm, has hired Matthew Kahn as the new Commercial Division director. Kahn will be working alongside current Commercial Division Director Bill Kable to lead the firm’s largest operating division, representing thousands … from News – Insurance Journal https://ift.tt/2w13so3

Rumbull Named Head of Willis Re Speciality in North America

Charles Rumball, currently executive vice president of Willis Re’s Specialty Reinsurance Division in Bermuda, is relocating to New York to assume the new role of head of Speciality for North America for Willis Re. Rumball brings considerable experience to his … from News – Insurance Journal https://ift.tt/33XbhaS

Massachusetts Joins Ohio, N.J. in Proposing COVID-19 Business Interruption Bill

Massachusetts is one of the latest states to propose legislation that would mandate insurers to cover COVID-19 related business interruption claims despite virus exclusions in many policies. This comes as Insurance Journal reported legislators in New Jersey and Ohio have … from News – Insurance Journal https://ift.tt/2R1outY

Coronavirus Infections on Rise in Already-Strained Urban Police Departments

When nine police officers showed up to make an arrest near Melrose Avenue in the Bronx last Wednesday, none wore a mask or gloves to protect them from coronavirus. Similar scenes play out all over the city daily: officers making … from News – Insurance Journal https://ift.tt/3dFYtKt

Insurance Claims for February’s Australian ‘East Coast Low’ Estimated at A$794M

Initial insured property claims estimate for the Australian east coast low event, which hit the Australian east coast states of New South Wales and Queensland between Feb. 5-13, 2020, is estimated at A$794 million (US$488.3 million), according to PERILS, the … from News – Insurance Journal https://ift.tt/2Jv7lVo

Covid-19: Industry "getting hammered" over business interruption, says Biba

Brokers hit back over business interruption following criticism of the entire insurance industry as some call for government assistance in getting the message across. from Insurer - insuranceage.co.uk https://ift.tt/3bD3920

AA posts insurance growth in trading update

Company said the number of policies it manages, as well as income per policy, had risen over 2019. from Insurer - insuranceage.co.uk https://ift.tt/39yuDnS

SCOR-Backed Channel Syndicate Taps Coulson from Lancashire as Senior Underwriter

Channel Syndicate, which is backed by reinsurer SCOR, has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance, effective immediately. Coulson started on March 23 and will report to Kade Spears, … from News – Insurance Journal https://ift.tt/2QZFvVq

Legacy Specialist Catalina Holdings Completes Purchase of Asia Capital Reinsurance

Catalina Holdings (Bermuda) Ltd., the legacy re/insurance acquisition specialist, announced it has completed the acquisition of Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-headquartered reinsurance business. Following regulatory approval from the Monetary Authority of Singapore and Bank Negara Malaysia, … from News – Insurance Journal https://ift.tt/2UOgFsS

New Argo Group CEO Rehnberg Aims for Transparency and Straight Shooting

Argo Group had been under fire for months over allegations that its board spent excessively on executive compensation when Kevin Rehnberg became interim CEO in November 2019. Three months later, Rehnberg was named as its full-time leader. Less than a … from News – Insurance Journal https://ift.tt/33VCISC

QBE Withdraws 2020 Financial Targets on COVID-19 Related Economic Uncertainty

QBE released its 2019 full year results on Feb. 17, 2020, which included an outlook statement that included combined operating ratio and net investment return targets for the 12 months ended Dec. 31, 2020. However, QBE has decided to withdraw … from News – Insurance Journal https://ift.tt/2UNt28x

Global M&A Plunges 28% in Q1 as Coronavirus Hits Economies

Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. Deal … from News – Insurance Journal https://ift.tt/39xEKcA

Her Genetic Test Revealed A Microscopic Problem — And A Jumbo Price Tag

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Michelle Kuppersmith, 32, feels great, works full time and exercises three to four times a week. So she was surprised when a routine blood test found that her body was making too many platelets, which help control bleeding. Kuppersmith’s doctor suspected she had a rare blood disorder called essential thrombocythemia , which can lead to blood clots, strokes and, in rare cases, leukemia. Send Us Your Medical Bill Do you have an exorbitant or baffling medical bill? Join the KHN and NPR ‘Bill of the Month’ Club and tell us about your experience. We’ll feature a new one each month. Submit Your Bill Her doctor suggested a bone marrow biopsy, in which a large needle is used to suck out a sample of the spongy tissue at the center of the patient’s hip bone. Doctors examine the bone marrow under a microscope and analyze the DNA. The procedure allows doctors to judge a patient’s prognosis and select treatment, if needed. Kuppersmith had heard the procedure can be intensely painful, s...

Judge Won’t Halt Salvage of Capsized Ship on Georgia Coast

A federal judge ruled she will not halt removal of a capsized cargo ship along the Georgia coast while a salvage company that lost the job to a competitor sues the U.S. Coast Guard. The decision by U.S. District Court … from News – Insurance Journal https://ift.tt/2xxuXpU

Sompo GRS Adds Carroll as Deputy Head of Life Sciences Practice in North Carolina

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Michael P. Carroll as senior vice president and deputy head of Life Sciences for Sompo Global Risk Solutions (GRS), reporting to Lisa Davis. … from News – Insurance Journal https://ift.tt/2Uxiage

Mississippi Gov: Businesses that Remain Open Risk Lawsuits

Mississippi Gov. Tate Reeves is allowing many businesses to remain open amid the coronavirus pandemic, but he repeated Friday that some should voluntarily change the way they operate. The Republican added a new twist by implying a threat from trial … from News – Insurance Journal https://ift.tt/3bF7Bxi

High-Flying Zoom Faces Privacy Suit Claiming It Fails to Protect User Data

Zoom Video Communications, which has seen its stock zoom by 115% since January, is being sued by a Sacramento user who claims the service unlawfully discloses users’ personal information. The video service has enjoyed a surge in popularity as people … from News – Insurance Journal https://ift.tt/2UMO6vT

Carrozza Joins Texas Associates Insurors as Risk/Insurance Advisor

Texas Associates Insurors has hired Brad Carrozza as its newest risk and insurance advisor. He is based in Austin. Carrozza’s specialization is focused on quarries, equipment rental operations, utility and pipeline construction, and landscape contractors, particularly tree specialists. As an … from News – Insurance Journal https://ift.tt/2JqvwEy

P/C Insurers Put a Price Tag on Uncovered Coronavirus Business Interruption Losses

The property/casualty industry estimates that business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month — or a quarter to half of the total industry surplus available to pay all … from News – Insurance Journal https://ift.tt/2wF4W85

Ohio County Reaches $3.5M Settlement in Woman’s Dog Mauling Death

The estate of an Ohio woman fatally mauled by her neighbors’ dogs will receive $3.5 million to settle a lawsuit against a county and its dog warden, a newspaper reported. The lawsuit was filed after Klonda Richey, 57, was killed … from News – Insurance Journal https://ift.tt/2w3gMsc

6 Hurt as Tornado Tears Through Arkansas College Town

A tornado ripped through northeast Arkansas on Saturday, leaving six people hurt after hitting commercial and residential areas in the college town of Jonesboro. The six people reported injured were taken to a local hospital with minor juries, Jonesboro E-911 … from News – Insurance Journal https://ift.tt/2UsWr8R

Severe Weather Spawns Tornadoes, ‘100-Year Flood’ in Midwest

A severe weather system tore through the Midwest over the weekend, bringing damaging high winds, tornadoes and flooding. Authorities say severe weather in Ohio spawned what forecasters are calling a “100-year flood” in Cleveland, Ohio. In Iowa, storms damaged an … from News – Insurance Journal https://ift.tt/2UR5dgd

Reavis Named Chief People Officer at Ohio Insurtech Root

Columbus, Ohio-based Root Inc., the parent company of online insurer Root Insurance, has appointed Annette Reavis as its first chief people officer. Reavis has more than 20 years of human resource and business experience. She previously spent a decade at … from News – Insurance Journal https://ift.tt/2w0AqFh

The Longer Coronavirus Crisis Lasts, the More Uncertain Is P/C Insurance Outlook

North American property/casualty insurers reported improved 2019 operating performance, but near-term performance will likely be more challenging with the onset of coronavirus and the resulting economic impact, according to a report from Fitch Ratings. Fitch’s rating outlook for the U.S. … from News – Insurance Journal https://ift.tt/3av4ibz

Ohio Bill Would Expand Business Interruption Coverage During COVID-19 Emergency

Two Democratic state representatives in Ohio have filed a bill in the General Assembly that would require insurers that provide business interruption insurance to cover losses that arise from viruses and pandemics, regardless of whether their policies contain exclusions for … from News – Insurance Journal https://ift.tt/2UsRQDF

PG&E to Use California Wildfire Victims Fund to Pay for Past Crimes

Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly Northern California wildfire by taking money away from a fund set up to … from News – Insurance Journal https://ift.tt/3dHJjEr

Connecticut Calls on Auto Insurers to Extend Coverage to Personal Delivery Drivers

Connecticut Insurance Department Commissioner Andrew N. Mais has called on insurers to immediately institute an extension of coverage for personal delivery drivers in light of the disruption caused by the COVID-19 pandemic. “The emergency social distancing and closing of restaurants … from News – Insurance Journal https://ift.tt/2JqStHS

Insurance Age Digital Issue: April - Insurance and Covid-19

The coronavirus crisis has forced us all to adapt. Here, for the very first time, we have the digital-only edition of Insurance Age. from Insurer - insuranceage.co.uk https://ift.tt/3bDzVjC

Fire Damages Popular Presidential Campaign Trail Restaurant in New Hampshire

A fire caused about $80,000 worth of damage on Wednesday to a New Hampshire restaurant that’s a popular campaign trail stop for candidates in the first-in-the-nation presidential primary state. WMUR-TV reports fire crews responded to the Puritan Backroom shortly after … from News – Insurance Journal https://ift.tt/3dPkfM6

New York City Subway Driver Killed in Fire Being Investigated as Crime

A New York City subway driver was killed and several other people were injured early Friday in a fire on a train that is being investigated as a crime, officials said. Fires were reported at three other stations nearby at … from News – Insurance Journal https://ift.tt/2UtVgWN

Insured Losses from Europe’s Storm Victoria (aka Dennis) Estimated at €286M: PERILS

The initial insured property loss estimate for Europe’s extratropical cyclone “Victoria,” also known as “Dennis,” is an estimated €286 million (US$318.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The event affected the British … from News – Insurance Journal https://ift.tt/2yk4lsM

Allianz Australia Taps Laybutt from Deloitte as Chief Risk Officer, Succeeding Callahan

Allianz Australia announced the appointment of Tara Laybutt as Allianz Australia’s chief risk officer, effective May 11, 2020. Laybutt has extensive experience in guiding the risk functions of large, financial services companies through complex and challenging periods, the company said … from News – Insurance Journal https://ift.tt/3bCzSo9

Opinion: Mactavish's Bruce Hepburn on restoring trust and reforming the industry

Lessons to learn: Even before the current crisis, the industry was in need of a shakeup, says Bruce Hepburn from Insurer - insuranceage.co.uk https://ift.tt/39vqe5f

South Korean Insurers Hit Hard by Evaporating Investment Returns

Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month. Hanwha Life Insurance Co. has … from News – Insurance Journal https://ift.tt/2yk0egl

Covid-19: ABI pledges to address questions raised by Treasury Select Committee

Last week, the Committee wrote to ABI director general Huw Evans requesting insurer data in relation to the coronavirus crisis. from Insurer - insuranceage.co.uk https://ift.tt/2Uw9Z3L

Sirius International Launches Formal Process to Find a Buyer

Sirius International Insurance Group, Ltd. (Sirius Group) announced it has launched a formal process to sell the company after a strategic review. The company said it has approved the launch of a sales process, after reviewing multiple expressions of interest … from News – Insurance Journal https://ift.tt/2UtGwre

Sir Peter Wood steps down from Esure

Wood founded the business in 1999 and sold a majority stake to Bain Capital in 2018. from Insurer - insuranceage.co.uk https://ift.tt/2QRXDAA

How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London

Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tools of … from News – Insurance Journal https://ift.tt/2UPFW5O

GM Settles Faulty Ignition Switch Cases for $120 Million

General Motors Co. has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths. The preliminary settlement was filed on Friday night with the … from News – Insurance Journal https://ift.tt/3aF9IAQ

From Free Coverage to Medical Masks. P/C Insurers Deliver Some Good.

While the property/casualty insurance industry is fighting attempts to force it to pay for the huge business income losses that it says most policies were never intended to cover, some individual insurers are finding small ways to assist the businesses … from News – Insurance Journal https://ift.tt/2QSdfE3

AM Best: Outlooks Negative for Wisconsin’s McMillan Warner Mutual Insurance

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of McMillan Warner Mutual Insurance Co. (MWM) in Marshfield, Wisconsin The Credit Ratings … from News – Insurance Journal https://ift.tt/3by8k30

Tech Issues Hampered Information on Tsunami Watch for Hawaii

Technical issues made it difficult to get information about a tsunami watch for Hawaii and its subsequent cancellation, the National Weather Service said Wednesday. The brief tsunami watch was canceled Tuesday after a 7.5 magnitude earthquake struck in the northern … from News – Insurance Journal https://ift.tt/3dyWXd5

PG&E’s Falling Stock Price Worries California Wildfire Victims Eyeing Deal

The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric’s $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A … from News – Insurance Journal https://ift.tt/2xxzN6c

California Commissioner Wants Data on Business Interruption Coverage

California Insurance Commissioner Ricardo Lara has directed insurance companies to submit data to the California Department of Insurance regarding coverage of commercial business interruption related to COVID-19. It is hoped the data will help state policymakers understand the scope of … from News – Insurance Journal https://ift.tt/2xxzMza

Chubb Investigating Possible Cyber Attack; Says Network Unaffected

Chubb confirmed that is looking into a possible hack attack, though a spokesperson said the insurance giant’s network appears at this point to be unaffected. “We are currently investigating a computer security incident that may involve unauthorized access to data … from News – Insurance Journal https://ift.tt/2UGWPiZ

Owner of WWII-Era Bomber Prohibited from Carrying Passengers After Connecticut Crash

The Federal Aviation Administration revoked a foundation’s permission to carry passengers aboard its World War II-era planes after a deadly crash in October. The agency cited safety concerns in its decision to prohibit the Collings Foundation from chartering its historic … from News – Insurance Journal https://ift.tt/3ajczzr

Judge Declines to Dismiss Class-Action Suit Against New Hampshire Gun Manufacturer

A judge has denied a motion to dismiss a class-action lawsuit against New Hampshire based gun manufacturer SIG Sauer. Judge Joseph Laplante found Monday that Derick Ortiz, who filed the lawsuit in September, had adequately proved his standing for litigation, … from News – Insurance Journal https://ift.tt/2ULXCQ2

Aetna Waiving Patient Co-Pays for Coronavirus Hospital Stays

One of the nation’s biggest health insurers is waiving patient payments for hospital stays tied to the coronavirus. CVS Health’s insurer Aetna said Wednesday that many of its customers will not have to make co-payments or other forms of cost … from News – Insurance Journal https://ift.tt/2UlAxo4

Employers Deploy Spy Software to Monitor At-Home Workers

The email came from the boss. We’re watching you, it told Axos Financial Inc. employees working from home. We’re capturing your keystrokes. We’re logging the websites you visit. Every 10 minutes or so, we’re taking a screen shot. So get … from News – Insurance Journal https://ift.tt/2vY2ysE

Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal

Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too early for the market to assess the … from News – Insurance Journal https://ift.tt/39pe79E

Covid-19: Insurance firms come bottom of the list for contacting customers

Research reveals fast food companies and gyms are communicating more with clients about the coronavirus pandemic than insurance providers. from Insurer - insuranceage.co.uk https://ift.tt/3bsdVrN

Chubb investigates possible data breach

Provider confirmed a “computer security incident” but suggested its network was untouched. from Insurer - insuranceage.co.uk https://ift.tt/2WPhowq

The Insurance Age Podcast: 27 March 2020

Insurance Age editor, Sian Barton, and content director, Jonathan Swift, discuss the top stories this week and talk about their own experience of the coronavirus lockdown. from Insurer - insuranceage.co.uk https://ift.tt/2Unri6U

Blenheim Gets Initial Approval from Lloyd’s to Launch New Managing Agency

Blenheim Underwriting announced it has been granted ‘approval in principle’ by the Lloyd’s board to establish a new managing agency. Blenheim said it can now submit an application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) … from News – Insurance Journal https://ift.tt/2xx4Xus

Covid-19: Lloyd's outlines coronavirus impact and response

CEO John Neal urges the industry to "put a lot more effort" into explaining products to clients. from Insurer - insuranceage.co.uk https://ift.tt/3azuEJu

China’s Factories Hit with 2nd Blow from Coronavirus as External Demand Drops

Since last week, emails from foreign clients have been flooding into export manager Grace Gao’s in-box, asking to delay orders already made, putting goods ready to be shipped on hold until further notice, or asking for payment grace periods of … from News – Insurance Journal https://ift.tt/2JkQIvK

Former Lloyd’s CEO Beale to Become Chair of South Africa’s Mediclinic

Mediclinic International Plc has appointed former chief executive of Lloyd’s of London, Inga Beale, as an independent non-executive director and its next chairwoman, the company said on Friday. Beale will succeed Chairman Edwin Hertzog after his retirement on July 22, … from News – Insurance Journal https://ift.tt/2QRYrWi

COVID-19 Quarantined Doctors Turn to Telemedicine to Keep Seeing Patients

Marie-Pascale Schuller started feeling sick last week. The 57-year-old doctor specializes in respiratory illnesses, and she had a strong suspicion as to what her fever, cough and aches meant. She wanted to keep seeing patients without the risk of exposing … from News – Insurance Journal https://ift.tt/33QnXAz

Florida Insurers Omega, Tower Hill Select to Merge into Tower Hill Signature

A proposed merger of Florida-based insurers Omega Insurance Co. and Tower Hill Select into Tower Hill Signature Insurance Co. has been approved by Florida regulators. The Florida Office of Insurance Regulation approved the merger March 25 following a complete review, … from News – Insurance Journal https://ift.tt/2UpVnmx

West Virginia Nursing Home Now ‘Ground Zero’ for Virus

A West Virginia nursing home with at least 20 coronavirus cases has become “ground zero” for the state’s growing virus caseload, officials said Wednesday. Carl Shrader, medical director for the Sundale nursing home in Morgantown, said 16 residents and four … from News – Insurance Journal https://ift.tt/3bvhJss

Just in California Announces Telematics Product for Low-Income Drivers

Los Angeles, Calif.-based Just Auto Insurance Inc. has launched a telematics-based auto insurance for lower income consumers. Just’s pricing model is based on an in-house telematics model, which uses data from more than 12,000 drivers. The firm says it will … from News – Insurance Journal https://ift.tt/39g2TEA

Home Health Providers at ‘Breaking Point’ as Coronavirus Ups Demand, Saps Supplies

Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus — and how to ensure that the providers themselves neither catch nor spread it. A Texas-based company … from News – Insurance Journal https://ift.tt/2UGWbCa

Gig Drivers Ruled Employees Eligible for Unemployment Benefits in New York

Drivers for the online food delivery service Postmates Inc. are employees who are eligible for state unemployment insurance, New York’s top court has ruled. The ruling upsets the “gig” business model of courier service Postmates and other platforms like transportation … from News – Insurance Journal https://ift.tt/3aj0El8

Favorable Flood Forecast Offers Relief to Parts of Minnesota

While leaders in Fargo and Moorhead, Minnesota, have been taking steps to limit the coronavirus, it appears they won’t have to deal with a significant flood on top of the pandemic. Fargo Mayor Tim Mahoney tells KFGO radio that a … from News – Insurance Journal https://ift.tt/2QN2Rxz

Man Dies in Accident at Tyson Meats Plant in Kansas

A 30-year-old Garden City man died at a Tyson Fresh Meats plant in western Kansas, authorities said. Kendrick Gregory was doing maintenance work on an assembly line early Monday at the plant in Garden City when he was injured, the … from News – Insurance Journal https://ift.tt/2vPzyTF

Texas Surplus Lines Stamping Office Postpones Launch of New Online Filing System

The release of the Surplus Lines Stamping of Office of Texas’ (SLTX’s) new online filing system, SMART, will be postponed due to the global coronavirus (COVID-19) pandemic. SLTX said the system was originally scheduled for release in March but will … from News – Insurance Journal https://ift.tt/3bvvrey

Oklahoma Commissioner: Allstate Eases Personal Auto Terms for Delivery Drivers

Oklahoma’s insurance commissioner says Allstate Insurance Co. is voluntarily easing certain policy restrictions to aid delivery drivers using their personal vehicles for delivery of food and medicine during the COVID-19 health emergency. The Oklahoma Insurance Department said Allstate has notified … from News – Insurance Journal https://ift.tt/33MusnT

Hamilton Named Partner at Hotchkiss Insurance in Texas

Texas-based Hotchkiss Insurance, a full-service independent agency, has named Chris Hamilton as its newest partner. Hamilton has extensive experience as an employee benefits and risk management consultant, with previous roles in corporate finance and banking. He has been with Hotchkiss … from News – Insurance Journal https://ift.tt/2QP9dwe

U.S. Oil Industry Seeks Easing of Environmental Regulations During Coronavirus Pandemic

The Environmental Protection Agency said this week that it’s reviewing a request from the oil and gas industry to ease enforcement of hazardous air and water pollution and other regulatory issues during the coronavirus pandemic. The proposal is drawing objections … from News – Insurance Journal https://ift.tt/3ahvpXE

Settlement Reached in Lawsuit Involving Wyoming Coal Workers

Attorneys representing Wyoming coal miners reached a settlement in a class action lawsuit against a bankrupt coal operator. The settlement with Blackjewel LLC of West Virginia requires final approval by a federal judge, The Casper Star-Tribune reports. The lawsuit alleged … from News – Insurance Journal https://ift.tt/2UolPNn

Boeing Suspending Production in Seattle over Virus

Boeing will suspend operations at its Seattle area facilities due to the spread of coronavirus, idling tens of thousands of aerospace workers, the company said Monday. At least 110 people have died from COVID-19 in Washington state, mostly in the … from News – Insurance Journal https://ift.tt/2UolOJj

U.S. Lawsuit Wants China to Pay for Business Income Losses from Coronavirus

An attorney who represented victims of the Las Vegas shooting massacre has filed a federal lawsuit against China’s government over the new coronavirus, saying that officials hid information about the outbreak and that U.S. small businesses should receive billions of … from News – Insurance Journal https://ift.tt/2yc0TjR

Cyber Insurance Sales to U.S. Businesses Picking Up: Marsh

The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing Trends Report found that 42 percent of … from News – Insurance Journal https://ift.tt/2xu2Fg0

Pandemic Hampers World’s Weather Forecasts with Halting of Commercial Flights

The pandemic that has idled scores of commercial flights is having a little-noticed consequence for meteorologists, whose forecasts rely in part on data collected from planes. That means a crucial eye in the sky has weakened just as spring flood … from News – Insurance Journal https://ift.tt/33KUnfI

Massachusetts Contractor to Pay for Clean-Up Costs Following Chemical Explosion

A Sutton, Mass.-based contractor has agreed to pay $120,000 to reimburse the state for the cost of responding to a 2017 explosion and fire of a backyard shed at a Shrewsbury residential property, Massachusetts Attorney General Maura Healey announced. The … from News – Insurance Journal https://ift.tt/2WKVivd

Willis Re Appoints Melanson as SVP, Health Practice Leader in Massachusetts

Willis Re, the reinsurance business of Willis Towers Watson, a global advisory, broking and solutions company, has appointed Dan Melanson as senior vice president and Health Practice leader. He is based in Boston, Mass. In this role, Melanson will serve … from News – Insurance Journal https://ift.tt/2vONBsD

Lloyd's returns to profit in 2019

Market says it is in a "strong position" to respond to the impacts of the coronavirus. from Insurer - insuranceage.co.uk https://ift.tt/3amVhkP

Freeborn & Peters LLP Hires Gould in Virginia

Freeborn & Peters LLP has hired Beth Gould as an associate in the Litigation Practice Group and a member of the Insurance/Reinsurance Industry team. Prior to joining the firm, Gould was an associate at Kalbaugh, Pfund & Messersmith, P.C. She … from News – Insurance Journal https://ift.tt/2QNzsmW

Insurer Ageas Uses AI to Create End-to-End Car Damage Assessments in UK

Ageas is using artificial intelligence (AI) to create end-to-end assessments and estimates of vehicle damage, which it says is a first for a UK insurance company. Ageas is using an AI solution, developed by technology company Tractable, to support some … from News – Insurance Journal https://ift.tt/2wGWa9g

Australia Firms Begin to Use Legal Clause to Terminate M&A Deals Amid Virus

Several Australian companies are reviewing or even terminating takeover deals by using a legal escape route because of the devastating impact of the coronavirus, a template that some lawyers expect to be replicated in other countries. Three listed companies this … from News – Insurance Journal https://ift.tt/2WGPJ0J

Lloyd’s, in ‘Strong Position’ to Respond to COVID-19, Reports Return to 2019 Profit

While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also confirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s posted pre-tax profit of £2.5 billion (US$3 billion) … from News – Insurance Journal https://ift.tt/2UCtZjV

Florida Regulator Outlines How Industry Can Help Insureds During COVID-19 Response

The Florida Office of Insurance Regulation has issued an additional memorandum related to the coronavirus outbreak to all the insurers and entities it regulates in an effort to provide general guidance on the treatment of policyholders, according to a statement … from News – Insurance Journal https://ift.tt/2QLO5Hm

Suspected Tornado Causes Damage Along Mississippi-Alabama Line

A suspected tornado heavily damaged a store and other structures Tuesday in northern Mississippi and Alabama as a severe storm system crossed the Deep South, authorities said. Police Chief Mike Kemp in Tishomingo, Mississippi, told broadcast outlet WTVA that minor … from News – Insurance Journal https://ift.tt/2wtGN4g

How Policy Silence on Pandemics May Bedevil Insurers on Coronavirus Claims

Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an insurtech that specializes in analyzing insurance policy language suggested recently, explaining that without specific words addressing pandemic risks, insurers might face claims down the road. In … from News – Insurance Journal https://ift.tt/2JcrIqi

400 Cybersecurity Pros Volunteer to Fight Hacking Tied to Coronavirus

An international group of nearly 400 volunteers with expertise in cybersecurity formed on Wednesday to fight hacking related to the novel coronavirus. Called the COVID-19 CTI League, for cyber threat intelligence, the group spans more than 40 countries and includes … from News – Insurance Journal https://ift.tt/2WIVdrK

Pinnacol Assurance Distributing $70M in Dividends to Colorado Companies

Pinnacol Assurance announced it is distributing general dividend checks to its customers totaling $70 million. This is the fifth straight year the state’s largest workers’ compensation provider has distributed dividends. Most (95%) of Pinnacol’s policyholders are eligible to receive a … from News – Insurance Journal https://ift.tt/2xodjVl

NCCI Moves Workers’ Compensation Issues Symposium Online for May 12

The workers’ compensation rating and information organization National Council on Compensation Insurance (NCCI) said it is converting its Annual Issues Symposium from a live to a virtual event due to the coronavirus pandemic. NCCI said it will hold its AIS … from News – Insurance Journal https://ift.tt/2Jb4qRE

Overturned Tanker Yields Large Oil Spill Near California Dam, Cleanup Needed

A tanker truck overturned down an embankment, spilling up to 6,000 gallons of crude oil into a river that flows into a dam and reservoir near the city of Santa Maria, authorities said. The driver was no injured and the … from News – Insurance Journal https://ift.tt/2WH4Kzv

Iowa Battery Manufacturer Cited for Safety Violations, Fined $42K

A battery manufacturer in eastern Iowa has been fined $42,000 for workplace safety violations, authorities said. The Iowa Occupational Safety and Health Administration said Exide Technologies, of Manchester, was cited for five different violations and originally faced a penalty of … from News – Insurance Journal https://ift.tt/3bnYpgy

Ex-Library Director in Idaho Files Lawsuit Alleging Sexual Harassment

A former library director has sued Lewiston, Idaho, over her termination two years ago, alleging sexual harassment, a hostile work environment and other charges dating back to when she was hired in 2012. The Library Board of Trustees put Alexa … from News – Insurance Journal https://ift.tt/2QMLU6t

Utah Residents Reporting Damage Days After M5.7 Quake

Days after a magnitude 5.7 earthquake shook parts of Utah, residents continue to report damage. The Greater Salt Lake Municipal Services District asked those within its boundaries to submit online notices of home or business damage from the March 18 … from News – Insurance Journal https://ift.tt/2y5YSpf

As Coronavirus Threatens Gig Workers, Uber Presses for New Worker Classification

As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours. But as the coronavirus brings large parts of the country to a halt, drivers and companies are facing the downside of … from News – Insurance Journal https://ift.tt/3bmZ6qv

Some Details of the $2 Trillion U.S. Senate Coronavirus Rescue Bill

U.S. senators will vote on Wednesday on a $2 trillion bipartisan package of legislation to alleviate the devastating economic impact of the coronavirus pandemic, hoping it will become law quickly so they can get out of Washington. Here are major … from News – Insurance Journal https://ift.tt/33KNESL

AM Best Warns Losses Could Be Big for P/C Insurers Writing Event Cancellation Business

Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant, according to a new AM Best commentary. Losses on … from News – Insurance Journal https://ift.tt/2UzrCyl

Kirkland & Ellis Hires Hassouri in New York as Partner in Corporate Practice Group

Kirkland & Ellis LLP has hired Parimah Hassouri to its New York office as a partner in the Corporate Practice Group. Her appointment follows the recent addition of Rajab Abbassi as a partner in New York and bolsters Kirkland’s ability … from News – Insurance Journal https://ift.tt/2wqmpAZ

Maine’s Rios Agency Joins Satellite Agency Network Group

Rios Agency recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. Rios Agency provides all lines of property, casualty, life and health insurance coverages to clients in Falmouth and Portland, Maine. Owner … from News – Insurance Journal https://ift.tt/2UltKLj

Covid-19: Expect £275m in travel payouts, says ABI

Industry body says the total will dwarf the £148m record reported in 2010. from Insurer - insuranceage.co.uk https://ift.tt/2Jh6mbw

How East Insurance Regulators Are Responding to the Coronavirus Pandemic

As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond. “There is almost no aspect of the insurance business that would … from News – Insurance Journal https://ift.tt/39kfNBr

Zurich Expands Marine Insurance Platform into Additional Countries, Regions

Zurich Insurance Group is expanding the roll-out of a new marine insurance platform for small and medium cargo, following its successful introduction in selected markets around the world. The Zurich Swift Insurance Platform provides intuitive, web-based access to insurance that … from News – Insurance Journal https://ift.tt/3bqgM4o

Dudley, CEO of Aon’s UK Global Broking Centre, Named Chair of LIIBA

Richard Dudley, CEO of Aon’s UK Global Broking Centre, will become the new chair of the London & International Insurance Brokers’ Association, according to LIIBA’s board. He succeeds Roy White of Marsh, who served a two-year term. White will remain … from News – Insurance Journal https://ift.tt/33V68Ap

UK, U.S. Banks and Regulators Warn of Wave of Coronavirus Scams

UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes. With British households … from News – Insurance Journal https://ift.tt/2Uhi5Np

Guy Carpenter Announces Partnership with RiskGenius to Expand Silent Cyber Analysis

Guy Carpenter & Co., LLC, the reinsurance brokerage business of Marsh & McLennan Cos., announced it has entered into a strategic relationship with RiskGenius, to expand the detection and qualitative analysis of silent cyber exposure across various lines of business. … from News – Insurance Journal https://ift.tt/3dsTkFD

India in Lockdown Rushes to Maintain Back Office Functions for Global Businesses

Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the nation mandates increased work from … from News – Insurance Journal https://ift.tt/3dsFgvN

Olympics Postponement Likely to Cost Insurers Less than Cancellation

Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed … from News – Insurance Journal https://ift.tt/3duzSIs

Georgia Adjuster Accused of Stealing $215K from Business Affected by Hurricane Michael

An insurance adjuster was charged with stealing more than $215,000 in insurance money from a Georgia business damaged by Hurricane Michael, authorities said. Steven Eric Chastain is accused of stealing insurance checks from a business in Albany, Georgia, and was … from News – Insurance Journal https://ift.tt/2UGbiMq

What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus Impact

As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A. Sampson, president and CEO of the American … from News – Insurance Journal https://ift.tt/39eGxmH

Idaho Insurance Producer Ordered to Cease and Desist for Misusing Premiums

The Director of the Idaho Department of Insurance issued an order to cease and desist against Charlotte Jane Sheppard of Lincoln County after it was reported that Sheppard violated Idaho Code § 41-1016(1)(d) and (h) on numerous occasions. The department … from News – Insurance Journal https://ift.tt/2WDRX0R

ONI Risk Partners Adds Wood as Commercial Insurance Risk Advisor in Kentucky

ONI Risk Partners, an EPIC Company, has hired Brian Woods as a Commercial Insurance Risk Advisor in Kentucky. Wood will consult with mid-to-large commercial insurance clients in the Louisville area to identify, assess, and manage the overall impact and cost … from News – Insurance Journal https://ift.tt/2wyXDhS

Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL

A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among the defendants named in … from News – Insurance Journal https://ift.tt/2JdhdmH

Wisconsin Commissioner: Insurers Must Offer Free Coverage for Restaurant Deliveries

Wisconsin’s insurance commissioner has directed insurers to provide insurance coverage for delivery drivers for restaurants during COVID-19 Public Health Emergency, even if those drivers/restaurants previously did not have coverage for such activities. The extra coverage must be provided at no … from News – Insurance Journal https://ift.tt/3dpo4Y1

Texas Modifies Licensing, CE Requirements for Insurance Agents, Adjusters

The Texas Department of Insurance (TDI) said certain licensing requirements for insurance agents and adjusters will be waived during the state’s response to the COVID-19 health emergency. TDI said the measures will ensure agent and adjuster services remain available. New … from News – Insurance Journal https://ift.tt/3dpuM08

Ransomware Attacks, Sums Demanded Soared in 2019: Beazley

The number of ransomware attack notifications against insurance clients increased by 131 percent in 2019 and the funds demanded by the attackers surged along with the counts. A new report from specialty insurer Beazley’s Breach Response (BBR) Services, cybercriminals have … from News – Insurance Journal https://ift.tt/39mgeLL

M4.7 Earthquake Confirmed off Coast of Northern California

A magnitude 4.7 earthquake struck Sunday morning off the coast of Northern California, the U.S. Geological Survey confirmed. The quake hit at 8:27 a.m. about 50 miles west of Ferndale, a coastal town of 1,300 people. A police dispatcher said … from News – Insurance Journal https://ift.tt/2Ud0NAW

PG&E Will Plead Guilty to Involuntary Manslaughter in California Wildfire

Pacific Gas & Electric said it will plead guilty to 84 counts of involuntary manslaughter in connection with the 2018 fire in Northern California that killed 84 people and decimated three towns. The utility said in a statement will also … from News – Insurance Journal https://ift.tt/2wCnwxg

Beazley’s Bernacki Named President of AmWINS Special Risk Underwriters

Global specialty insurance wholesaler AmWINS Group announced that Mark R. Bernacki will join the firm as president of AmWINS Special Risk Underwriters (SRU) and executive vice president of AmWINS Group, effective March 30, 2020. In his role, Bernacki will drive … from News – Insurance Journal https://ift.tt/2Ud7YsV

Insured Losses for Europe’s Storm Sabine (aka Ciara) Estimated at €1.55B: PERILS

The initial loss estimate for extratropical cyclone Sabine”, also known as “Ciara” and “Elsa,” is €1.55 billion (US$1.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The event hit the British Isles, and Western … from News – Insurance Journal https://ift.tt/2WGhaI8

Tokyo Games Delayed to 2021 in 1st Postponement in Olympics’ 124-Year History

Japan and the Olympics movement decided on Tuesday to delay this year’s Tokyo Games into 2021 as the coronavirus crisis obliterated the world’s last major imminent sporting event. It was the first time in the Olympics‘ 124-year history that they … from News – Insurance Journal https://ift.tt/2JdAIeY

Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?

On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or curtailment of a restaurant due to … from News – Insurance Journal https://ift.tt/2UxSbnx

Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact

Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable. The sector outlook revision reflects increased concerns over the COVID-19 disruption and the related impacts on the credit quality of … from News – Insurance Journal https://ift.tt/3aiNOTZ

Liability Insurers Report Rise in Claims Against Architects and Engineers

Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & Gough said in a report. The brokerage, based in McLean, Va., … from News – Insurance Journal https://ift.tt/3dqt3Ym

World Insurance Associates Acquires Virginia Insurance Partners

World Insurance Associates LLC (WIA) has acquired Virginia Insurance Partners (VIP). The transaction was effective February 1, 2020, and terms of the deal were not disclosed. VIP is an independent insurance agency that offers commercial, personal, farm, life and benefits … from News – Insurance Journal https://ift.tt/2QDWIDK

Peachtree Special Risk Brokers Acquires Massachusetts’ RLA Insurance Intermediaries

Peachtree Special Risk Brokers LLC, a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of RLA Insurance Intermediaries. RLA Insurance Intermediaries was founded in 2010 by Jeff Hays and Chris Skaletsky as a wholesale insurance … from News – Insurance Journal https://ift.tt/2WD4Ub4

Blog: How tech kept the world ticking over

Qlaims Insurance's Mike Keating on how technology will help brokers, insurers and customers stay connected during the coronavirus outbreak. from Insurer - insuranceage.co.uk https://ift.tt/39gcprg

A.M. Best Downgrades Rhode Island’s Providence Mutual

The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer’s financial strength rating to “B++” (Good) from “A-” (Excellent) comes even as the insurer … from News – Insurance Journal https://ift.tt/2xi4gVY

Swiss Re Names da Victoria Lobo as Market Executive for Western, Southern Europe

Swiss Re has announced that Nikhil da Victoria Lobo, currently managing director and head of Americas for its Public Sector Solutions (PSS) Division, has been appointed market executive for Western and Southern Europe (WSE) for reinsurance, effective July 1, 2020. … from News – Insurance Journal https://ift.tt/3dqfb0n

Covid-19: IUAD launches emergency appeal

Insurance Cares: Group said social isolation is an “enormous threat” to the 700,000 people over 70 living with dementia. from Insurer - insuranceage.co.uk https://ift.tt/33OWPBW

BMS Buys Spanish Specialist Insurance Broker Jurado Mata

BMS Group, the independent specialist re/insurance broker, announced its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker. Financial details of the transaction were not disclosed. Founded in 1990, Jurado Mata has provided a range … from News – Insurance Journal https://ift.tt/3dqa546

UK Travel Insurers Expect to Pay Record Coronavirus Claims of US$319M

UK travel insurers expect to pay record claims of at least £275 million (US$319 million) due to the coronavirus pandemic, according to first estimates from the Association of British Insurers (ABI). The vast majority of payouts will be for cancellations, … from News – Insurance Journal https://ift.tt/39hZ5T8

West Virginia Couple Get 3 Years in Renter’s Insurance Fraud Case

A West Virginia couple were sentenced to more than three years each after pleading guilty in a scheme to fraudulently collect renter’s insurance benefits. Jimmie Thompson, 27, and Thanikwa Thompson, 25, of Martinsburg, were sentenced to 37 months each on … from News – Insurance Journal https://ift.tt/2vOf3a6

Georgia Resort Violated Labor Laws, Underpaid Workers by $46K

Newly released documents show a coastal Georgia resort violated labor laws more than 500 times and collectively underpaid employees by more than $46,000. The Brunswick News obtained the documents relating to violations at the Sea Island Resort earlier this month … from News – Insurance Journal https://ift.tt/3dpzHhB

Former Mississippi Attorney General Jim Hood Joins Policyholder Defense Practice

Former Mississippi Attorney General Jim Hood has Weisbrod Matteis & Copley PLLC, a litigation firm with with a focus on representing policyholders affected by natural disasters. He will serve as counsel in the firm’s Jackson, Miss., office. Hood, a Democrat, … from News – Insurance Journal https://ift.tt/2wxnTJE

Consumer Groups Want Auto Premiums to Reflect Coronavirus Curb on Driving

The shutdown of workplaces and gathering spots around the country to slow the spread of coronavirus may lead to a sharp reduction in auto insurance claims. Two consumer groups want to make sure that insurance carriers don’t enjoy any windfall. … from News – Insurance Journal https://ift.tt/2y5zdgz

Coronavirus Outbreak Exposes Flaws in Design of Pandemic Bonds

To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall Street firms that would help … from News – Insurance Journal https://ift.tt/3dpOCZi

California’s State Fund Announces Credit Extensions, Moratorium on Cancellations

California’s State Compensation Insurance Fund announced several steps to support policyholders during the COVID-19 crisis, including a moratorium on policy cancellations and late payment penalties. State Fund also said it will extend credit to any business negatively impacted by COVID-19 … from News – Insurance Journal https://ift.tt/2WEnKim

French Insurers to Contribute $216M to Solidarity Fund for Businesses

French insurance lobby FFA said on Monday insurers would contribute up to 200 million euros ($216 million) to funds set up by the government to help companies deal with a significant drop in activity due to the coronavirus crisis. French … from News – Insurance Journal https://ift.tt/399nV7T

Construction Contractor Getting $184M in Colorado Settlement

The Denver International Airport has settled a dispute for more than $180 million with a contracting company that was fired before completing a terminal renovation project. The airport filed an agreement Friday in a bondholder disclosure system, detailing more than … from News – Insurance Journal https://ift.tt/3dm41K1

Corrections Officer in Oregon Files $7M Hazing Lawsuit

An Oregon Department of Corrections officer is suing the state, a former coworker and corrections officials for $7 million after he was attacked with a stun gun. The civil rights lawsuit filed last week on behalf of Michael Kilgus accuses … from News – Insurance Journal https://ift.tt/2y3b8Hc

Cannabis Home Delivery Surges in California Amid Outbreak

One company rushed to expand its delivery fleet. Another has seen sales triple. The global coronavirus pandemic has left millions of people locked out of bars, restaurants and theaters, but it’s been an unexpected boost for some U.S. pot shops. … from News – Insurance Journal https://ift.tt/3afrBWL

Officials Confirm Earthquake Caused Minor Damage in Nevada

A 4.5 magnitude earthquake that struck near Carson City, Nev., on Friday night caused minor damages across the city, authorities confirmed. Some damage to items on shelves inside stores was reported and one building shut off its gas as a … from News – Insurance Journal https://ift.tt/33LzSiT

NSM Insurance Group to Buy UK’s Kingsbridge Group

NSM Insurance Group (NSM), a Pennsylvania-headquartered managing general underwriting agency and program administrator for specialty insurance programs, has entered into a definitive agreement to acquire Kingsbridge Group Ltd., a provider in the UK of specialist insurance for skilled contractors and … from News – Insurance Journal https://ift.tt/2UzRCJM

Covid-19: Government loan schemes open

Government scheme is supporting small and medium sized businesses, while the Bank of England’s scheme is supporting larger firms. from Insurer - insuranceage.co.uk https://ift.tt/3blSoB6

Treasury Secretary Mnuchin Says Coronavirus Lockdown to Last Until June

The lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Americans are … from News – Insurance Journal https://ift.tt/2WCH5jV

Tesla, Drivers, Regulators All to Blame for Fatal Crash, Says Safety Board

The National Transportation Safety Board says two drivers, Tesla and lax regulation of new partially automated driving systems are to blame for a fatal 2019 crash in Florida involving a Tesla on Autopilot. The NTSB, in a report issued last … from News – Insurance Journal https://ift.tt/2wmWL01

New Jersey Food Manufacturer Faces $77K in Penalties After Worker Injury

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited D.O. Productions LLC for lockout/tagout violations after unguarded machinery caused severe hand injuries to an employee at the frozen food manufacturer’s Lodi, N.J., facility. The company faces … from News – Insurance Journal https://ift.tt/2xmL6hu

Construction Worker Killed in Fall at Housing Site in New Jersey

A construction worker has died after a fall at a housing site in northern New Jersey, authorities said. The accident occurred around 5:20 p.m. Wednesday in Florham Park. Wander Santos, 47, of Newark, fell about 30 to 35 feet and … from News – Insurance Journal https://ift.tt/2QEP0cJ

Pennsylvania Governor Wolf Retrenches Sweeping Order Amid Complaints, Lawsuits

Under fire from business groups and Republican lawmakers and facing lawsuits over a broad shutdown order designed to slow the spreading of the coronavirus, Pennsylvania Governor Tom Wolf’s administration defended its actions as critical to preventing hospitals from being overwhelmed, … from News – Insurance Journal https://ift.tt/2UB8LDc

People Moves Round-up: 16-27 March 2020

Keep up to date with the latest market moves. from Insurer - insuranceage.co.uk https://ift.tt/2UB077I

Donelan Named CEO of Sompo International’s Reinsurance Unit, Succeeding Young

Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that, subject to regulatory approval, Christopher Donelan, currently the deputy CEO of Sompo International (SI) Reinsurance will assume the position of chief executive … from News – Insurance Journal https://ift.tt/3bvu2Fd

Fitch Revises Global Re Sector Outlook to Negative; Rating Outlook Stable

Fitch Ratings announced a dimmer “sector outlook” for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch offer two types of outlooks for segments of the insurance and reinsurance markets—sector outlooks and … from News – Insurance Journal https://ift.tt/2J57Qp0

Wedding Insurance Excludes Pandemics, and Couples Find They Have No Cover

Weddings are happy events, now hard to find in the age of the coronavirus. They’re being canceled, which means lost work for florists, dressmakers, organists and bands, but not for Eden Denevan, an enterprising wedding invitation designer now offering this … from News – Insurance Journal https://ift.tt/39bLywo

Covid-19: Are you a key worker?

Biba's Graeme Trudgill outlines the relevant areas for brokers as the FCA tells firms how to identify key workers in financial services. from Insurer - insuranceage.co.uk https://ift.tt/2wyTrPl

Covid-19: ABI highlights insurer motor and home commitments

The body outlined the insurer response to Financial Conduct Authority guidelines as providers waive renewals for key workers. from Insurer - insuranceage.co.uk https://ift.tt/39d4xqg

Ecclesiastical unveils cyber safety resources for teachers

Insurer developed ‘Cyber Ready’ toolkit following feedback that pupils are often more tech savvy than teachers. from Insurer - insuranceage.co.uk https://ift.tt/2xX6wSJ

Spring Floods in U.S. Should Be Moderate Compared to Last Year: NOAA

Too often disasters come in threes. But the year of global pandemic and record wildfires in Australia will not also be a year of historic floods in the U.S., forecasters predict. Last year saw record floods in several regions of … from News – Insurance Journal https://ift.tt/2WAqPjl

Resource-Shy FEMA Tackles COVID-19 Response While Also Facing Past Disasters, Spring Flood Season

It wasn’t until Wednesday, five days after President Donald Trump declared a national emergency, that the Federal Emergency Management Agency announced it was “leading the federal coordination” to the Covid-19 pandemic in the U.S. While the disaster-response agency is better … from News – Insurance Journal https://ift.tt/3dmp6nI

Cruel Paradox: Beating Virus Means U.S. Recession

The coronavirus is dealing a death blow to the longest U.S. economic expansion on record, triggering layoffs and putting intense strain on the nation’s financial system. In a cruel paradox, the very steps that are needed to contain the outbreak … from News – Insurance Journal https://ift.tt/3a9KaLY

European Insurers’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI

Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result of the coronavirus outbreak because pandemic-related claims are excluded from most business interruption policies in the three countries, said Moody’s … from News – Insurance Journal https://ift.tt/3bhgKvR

California Governor Issues ‘Stay Home’ Order

California issued an unprecedented statewide ‘stay at home” order for its 40 million residents as Washington warned Americans to return home or stay abroad indefinitely, as the number of coronavirus deaths in the country hit 200. Governor Gavin Newsom’s directive, … from News – Insurance Journal https://ift.tt/3a6mKal

Swiss Re, Zurich Insurance in Talks with Swiss Regulator About Coronavirus Impact

Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the matter. The watchdog contacted Swiss Re AG, Zurich Insurance … from News – Insurance Journal https://ift.tt/2U8AL1P

Pressure Builds on Insurers to Be Part of Coronavirus Business Solution

While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty commercial insurers to do more than explain why insurance coverage is … from News – Insurance Journal https://ift.tt/33wAdpC

$1.2M Sex Discrimination Suit Filed Against Oregon Hospital

A former pharmacist is suing Central Oregon’s largest health care provider for $1.2 million saying the hospital maintained a hostile work environment that included gender discrimination and sexual harassment. Darcy Martin filed the lawsuit against St. Charles Health System in … from News – Insurance Journal https://ift.tt/2UmLQLv

M5.7 Earthquake in Utah Confirmed

With much of normal life at a screeching halt to combat the coronavirus, millions of people in Utah are hunkered down in the safety of their homes. But on Wednesday morning, even that protection felt fragile as an earthquake strong … from News – Insurance Journal https://ift.tt/2U7hFcw

Coronavirus Strikes Post-Brexit Trade Talks with Top Negotiators in Isolation

The coronavirus has struck at the heart of the post-Brexit trade talks between Britain and the European Union, with both sides’ top negotiators now in isolation. David Frost, the UK’s chief negotiator, is isolating himself after showing symptoms of the … from News – Insurance Journal https://ift.tt/2WsrEKZ

Virginia’s Kinsale Capital Group Announces Underwriting Promotions

Kinsale Capital Group Inc. has announced four underwriting promotions. Patrick L. Dalton was named senior vice president of Casualty, John R. Bowen Jr. was named vice president of Construction, Jason E. Hoover was named vice president of Allied Health, and … from News – Insurance Journal https://ift.tt/2xfuit6

Insurers Reject House Members Request That They Pay for Coronavirus Business Interruptions

A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders. Eighteen House members made their case in a March 18 letter addressed to the leaders … from News – Insurance Journal https://ift.tt/2xckcJr

Exxon Loses Jurisdiction Fight in Massachusetts Climate Suit

Exxon Mobil Corp. suffered a setback in a climate change case when a federal judge ruled that a consumer protection lawsuit filed by Massachusetts should go back to state court. U.S. District Judge William G. Young in Boston on Tuesday … from News – Insurance Journal https://ift.tt/3bb9YaO

Swedbank Slapped with Record $386M Fine for Money-Laundering Breaches

Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Sweden’s oldest retail bank saw its … from News – Insurance Journal https://ift.tt/3bbDFbD

NY Regs Ask Insurers for Details of Business Interruption Policies in Wake of COVID-19

The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers regarding COVID-19. The instructions were issued on … from News – Insurance Journal https://ift.tt/3a7ReZM

Analysis: How a Recession Affects Return to Work by Injured Workers

With the COVID-19 virus causing economic disruption, the Workers’ Compensation Research Institute would like to share the findings from a study it published in 2010 that sheds light on how a typical recession affects the return to work of injured … from News – Insurance Journal https://ift.tt/2Qxi6dQ

Covid-19: Nicola Sturgeon calls on insurers to "play their part"

The Scottish First Minister says insurers need to "step up to the plate" and help small businesses. from Insurer - insuranceage.co.uk https://ift.tt/2vBsEBo

AXA XL Launches Insurance Policy for Autonomous Vehicles

AXA XL announced the launch of an insurance solution designed to cover the risks associated with autonomous vehicles. The offering will help companies developing or using the technology to better manage and transfer those new and evolving risks. The policy, … from News – Insurance Journal https://ift.tt/2IYOamG

Covid-19: Lloyd's rings Lutine Bell

The room closed on Thursday afternoon in response to the coronavirus crisis. from Insurer - insuranceage.co.uk https://ift.tt/39cpbqU

Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak

Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact on state insurance operations, agents and policyholders. In some cases, regulators … from News – Insurance Journal https://ift.tt/2U7da1i

Alera Group Acquires Fall River Employee Benefits in Colorado

Alera Group has acquired Fall River Employee Benefits in Denver, Colo. Terms of the deal were not disclosed. Fall River joins Alera Group through Benefit Commerce Group, an Alera Group company. The Fall River team will continue serving clients in … from News – Insurance Journal https://ift.tt/2U5zQz3

Judge Warns of Jury Harassment, Intimidation in N.C. Insurance Bribery Case

A federal judge on Wednesday ordered two men convicted of trying to bribe a North Carolina insurance regulator not to contact jurors from their recently completed trial after learning a consultant attempted to do so on their behalf. U.S. District … from News – Insurance Journal https://ift.tt/2xUAyqq

South Carolina University Student Suspected of Setting 20 Campus Fires

A student accused of setting an off-campus fire is the only suspect in about 20 fires set on the campus of the University of South Carolina Upstate, police said. Brandon Michael Burt, 19, of Suwanee, Georgia, was booked Monday in … from News – Insurance Journal https://ift.tt/3a6qcC0

Life Insurers Go Sow on New Policies to Limit Coronavirus Risk

U.S. life insurers are trying to curb their own risks to coronavirus by imposing waiting periods for applicants who have traveled to regions with widespread outbreaks, industry experts said. Life insurers are worried about insuring U.S. customers who have traveled … from News – Insurance Journal https://ift.tt/3a6FpD4

California Places All Residents Under ‘Stay at Home’ Order

California’s governor on Thursday issued a statewide “stay at home order” directing residents to leave their homes only when necessary during the coronavirus pandemic. Governor Gavin Newsom said that modeling has shown that 56 percent of California residents were expected … from News – Insurance Journal https://ift.tt/2U5WV4T

UK Regulator Warns Insurers to Have ‘Robust’ Coronavirus Contingency Plans

The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus pandemic. The FCA expects firms to have “sufficiently robust systems and … from News – Insurance Journal https://ift.tt/2xbxmGk

KHN’s ‘What The Health?’: The Affordable Care Act Turns 10

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Can’t see the audio player?  Click here to listen on SoundCloud . Read The Interview Sebelius, Looking Back At ACA, Says The Country’s Never ‘Seen This Kind Of Battle’ Read The Interview Julie Rovner Kaiser Health News @jrovner Read Julie's Stories Mary Agnes Carey Kaiser Health News @MaryAgnesCarey Read Mary Agnes' Stories Joanne Kenen Politico @JoanneKenen Read Joanne's Stories The Affordable Care Act on March 23 will reach a milestone many thought unlikely — it turns 10. The past decade for the health law has been filled with controversy and several near-death experiences. But the law also brought health coverage to millions of Americans and laid the groundwork for a shift to a health system that pays for quality rather than quantity. Yet the future of the law remains in doubt. Many progressive Democrats would like to scrap it in favor of a “Medicare for All” system that would be fully financed by the federal gov...