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Showing posts from August, 2020

Florida Borrows $2.25B for Hurricane Fund While Rates Are Low

With hurricane season barreling down on Florida, the state is seizing on low interest rates to borrow $2.25 billion for its catastrophe insurance fund. The State Board of Administration Finance Corp. is joining state and local governments that have rushed … from News – Insurance Journal https://ift.tt/3jKbHs7

Brazilian Reinsurer IRB Still Faces Liquidty Gap, Says CEO

Brazil’s largest reinsurer, IRB Brasil Resseguros SA, has concluded a 2.3 billion reais ($420 million) capital increase to address liquidity issues, but has not yet fully met regulatory requirements, its interim chief executive said on Monday. Antônio Cássio dos Santos … from News – Insurance Journal https://ift.tt/3lBEyjX

California Launches Remote Insurance Licensing Exams

The California Department of Insurance has launched remote testing for license examinations, designed to provide more flexibility and opportunities to thousands of insurance license candidates in light of existing COVID-19 social distancing requirements and local public health orders. T The … from News – Insurance Journal https://ift.tt/32PgQbw

North Korean Hackers Targeting Banks Around the Globe

North Korean hackers are tapping into banks around the globe to make fraudulent money transfers and cause ATMs to spit out cash, the U.S. government warned on Wednesday. A technical cybersecurity alert jointly written by four different federal agencies, including … from News – Insurance Journal https://ift.tt/32C7QGg

China Reinsurance Group’s Premiums Rise 20% in First Half

In the first half of 2020, China Re Group Corp. enjoyed rapid growth in premiums and steady profitability despite the pandemic. In the first half of 2020, gross written premiums increased 20.5% year-on-year to RMB102.1 billion. Gross written premiums by … from News – Insurance Journal https://ift.tt/3hLnuFX

Employers Must Pay Employees for All Hours Worked, Including Work at Home

The U.S. Labor Department is reminding employers that they must make a reasonable effort to keep track of all hours worked by non-exempt employees — even those working varied hours from home due to the COVID-19 pandemic. The department’s Wage … from News – Insurance Journal https://ift.tt/2EAcNYt

Cat Risk Modelers Air Worldwide, KCC Release Laura Insured Loss Estimates

Estimates for insured property losses associated with Hurricane Laura by catastrophe risk modeling firms Air Worldwide and Karen Clark and Co. (KCC) are similar — both fall into the $8 billion range — but they are not exactly the same. … from News – Insurance Journal https://ift.tt/2DgIpSd

Drones Help Insurance Companies Check Windstorm Damage in Iowa

Insurance adjusters who descended on Cedar Rapids, Iowa, after the Aug. 10 derecho storm are using drones to check roofs and asking homeowners with less severe damage to take their own photos. Some of this is due to the COVID-19 … from News – Insurance Journal https://ift.tt/2EH9Wgi

In Anthem-Cigna Failed Merger ‘Soap Opera,’ Judge Hands Damages to Neither

A Delaware judge rebuffed efforts by both Cigna Corp. and Anthem Inc. to collect billions over their failed merger, saying Cigna had breached its obligations but the merger was likely to have been blocked on antitrust grounds anyway. Cigna, which … from News – Insurance Journal https://ift.tt/3jtaeGj

Insurer Overcomes California Restaurant’s COVID-19 Business Loss Claim

A federal court in California has dismissed a lawsuit filed by a Los Angeles restaurant seeking business interruption losses from Travelers Indemnity due to coronavirus-related restrictions on its business. Judge Stephen Wilson of the U.S. District Court for Central California … from News – Insurance Journal https://ift.tt/2EIp4tF

Damages Awarded to Colorado Woman Under New ‘Revenge Porn’ Law

A Denver, Colo., judge awarded $40,000 to a woman after a man she dated sent a sexually-explicit video of her to her estranged husband. The woman’s attorney says it is the first trial victory under Colorado’s “revenge porn” law. The … from News – Insurance Journal https://ift.tt/2Ddwt3u

Family of Man Who Died in Custody in Washington Announces $30M Suit

The family of a Black man who died in Tacoma, Wash. police custody announced they plan to sue the police department for $30 million for his death. Seattle lawyer James Bible, who represents Manuel Ellis’ family in the legal action, … from News – Insurance Journal https://ift.tt/2QEKJp7

California Chicken Plant Shutting Down Due to Virus Outbreak

A chicken processing plant in central California has been ordered to shut down after it became the site of one of the largest and most severe COVID-19 outbreaks in the state, health officials said. The order to close the Foster … from News – Insurance Journal https://ift.tt/2Gf3GwH

For 60% of Mid-Sized Businesses, Crisis Management Is Key Unmet Need

Nearly 60 percent of mid-sized businesses said crisis management remains a top unmet need in terms of reducing risk exposure. At the same time, a little over a third said they’re concerned about rising insurance rates, according to a new … from News – Insurance Journal https://ift.tt/2YOV4Dr

McDonald’s Alleges Ex-CEO Duped Directors, Seeks to Claw Back $37 Million Severance

McDonald’s Corp. told a judge that ex-CEO Steve Easterbrook lied about four alleged sexual relationships with subordinates to dupe directors into letting him leave with stock awards as part of his severance. The fast food company, which is seeking to … from News – Insurance Journal https://ift.tt/3hJ8gBj

Commuter Bus Slams Divider at NYC Terminal, 16 People Hurt

A commuter bus slammed into a divider at New York City’s main bus terminal on Saturday, injuring 16 people – one critically, the fire department said. The New Jersey Transit bus crashed around 9:30 a.m. on an upper ramp at … from News – Insurance Journal https://ift.tt/31I7GOm

United Arab Emirates Ends Boycott, Opening Commerce With Israel

DUBAI, United Arab Emirates —The ruler of the United Arab Emirates issued a decree Saturday formally ending the country’s boycott of Israel amid a U.S.-brokered deal to normalize relations between the two countries. The announcement now allows trade and commerce … from News – Insurance Journal https://ift.tt/3lwFMgh

Roundup of New England COVID-19 Developments

Public health officials in Vermont said the state is considering becoming the second state to mandate flu shots as a way to ease the burden of influenza amid the coronavirus pandemic. Vermont Health Commissioner Mark Levine said Friday the rate … from News – Insurance Journal https://ift.tt/3jvc49M

World Insurance Associates Acquires New Jersey’s Maximum Benefit Insurance Agency

World Insurance Associates LLC (WIA) acquired Maximum Benefit Insurance Agency Inc. of Saddle Brook, N.J., on August 1, 2020. Terms of the transaction were not disclosed. Founded in 1994, Maximum Benefit Insurance Agency Inc. is a property and casualty full-service … from News – Insurance Journal https://ift.tt/31H1Mgs

Check Up: The Post-Pandemic Future of the Current Telehealth Sensation

Telehealth is a bit of American ingenuity that seems to have paid off in the coronavirus pandemic. Medicare temporarily waived restrictions predating the smartphone era and now there’s a push to make telemedicine widely available in the future. Consultations via … from News – Insurance Journal https://ift.tt/2YPr3Dj

Pandemic Shows Why Climate Change Is Major Economic Risk, Says Europe’s Schnabel

The coronavirus pandemic demonstrates in the clearest terms why central banks must take a bigger role in fighting climate change even if the issue at first appears unrelated to monetary policy, European Central Bank board member Isabel Schnabel said. Initially … from News – Insurance Journal https://ift.tt/3lBiKFd

Total Return Reinsurers Underperform Traditional Bermuda Reinsurers: AM Best

Although total return reinsurers, which like to take more risk on the investment side of their balance sheets than other reinsurers, have the potential to generate significantly higher investment returns than traditional reinsurers, AM Best says the results of those … from News – Insurance Journal https://ift.tt/32FhAQn

Insured Loss for UK’s February Floods Estimated at £375 Million

The updated estimate of the insured property market loss for floods that hit February 9 to 29, 2020, across the United Kingdom is £375 million. PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, said it based its estimate … from News – Insurance Journal https://ift.tt/3hNkM2K

Safety Agency Offers App for Alerts on Vehicle Recalls

The U.S. government’s road safety agency is offering a smartphone app that will alert drivers if their vehicles are recalled. The National Highway Traffic Safety Administration was scheduled to roll out the free app for both Android and Apple phones … from News – Insurance Journal https://ift.tt/2QEwLUb

Britain Eyes Fast-Tracking Coronavirus Vaccines That Pass Safety, Quality Tests

Britain’s medical regulator will be able to grant temporary authorisation for any coronavirus vaccine that meets safety and quality standards but before it has received a full license, under new plans set out on Friday. The government said that under … from News – Insurance Journal https://ift.tt/3lwp9kR

Tennessee Gov. Extends Covid-19 State of Emergency

Tennessee Gov. Bill Lee has once again extended the state of emergency until the end of September. Lee, a Republican, initially imposed the state of emergency on March 12 in order to free up funding and relax rules regarding the … from News – Insurance Journal https://ift.tt/31I3Tkg

Sidewalk Collapse in Florida Kills Worker, Injures 3 Firefighters

A county worker was killed and three firefighters were injured after a sidewalk in a Florida suburb collapsed on Friday. The Seminole County Fire Department tweeted that firefighters responded to a report of a trapped person in Lake Mary. Officials … from News – Insurance Journal https://ift.tt/2Ded7LD

Uber Vows Better Disclosure of Safety Data on Self-Driving Cars

Uber Technologies Inc. vowed to make public more safety information regarding its self-driving cars after the National Transportation Safety Board placed partial blame for a fatal 2018 crash on the company’s policies. The company made the pledge in an update … from News – Insurance Journal https://ift.tt/3baudGQ

Judge Allows Palin Defamation Suit Against New York Times

A federal judge on Friday rejected the New York Times’ bid to dismiss Sarah Palin’s defamation lawsuit over a 2017 editorial she said falsely linked her to a mass shooting. U.S. District Judge Jed Rakoff in Manhattan said that while … from News – Insurance Journal https://ift.tt/31IPzrW

Fire at Hurricane-Hit Louisiana Chemical Plant Contained

A chlorine chemical fire that erupted last Thursday, triggering shelter-in-place orders and closing roadways in the aftermath of Hurricane Laura, has been brought under control, the plant’s owner said on Friday. KIK Custom Products said the site is secured and … from News – Insurance Journal https://ift.tt/3lHVsgW

CoreLogic Estimates Hurricane Laura Insured Losses at $8B to $12B

Property information, analytics and data provider, CoreLogic, has estimated residential and commercial insured losses from Hurricane Laura in Louisiana and Texas will come in at between $8 billion and $12 billion. That estimate includes losses from storm surge and wind, … from News – Insurance Journal https://ift.tt/3b4YCq5

Post-Covid Cold War World Will Be Tough for China’s Ant: Opionion

Ensconced in a lucrative niche at home, Jack Ma’s Ant Group nevertheless has to look outward. And expanding overseas has never looked so difficult for China’s biggest payments app, even with the war chest from what may be a world-record … from News – Insurance Journal https://ift.tt/3jqlz9U

Revel Brings Electric Moped Sharing Back to New York City; Helmets Required

Electric moped sharing company Revel on Thursday said it was returning to the streets of New York City with a new safety protocol, a month after it voluntarily suspended operations in the city following a string of deadly crashes. Revel … from News – Insurance Journal https://ift.tt/3lr0s9k

FBI Thwarts Cyber Attack on Tesla Factory

Elon Musk said on Thursday that Tesla Inc.’s factory in Nevada was a target of a “serious” cybersecurity attack, confirming a media report that claimed an employee of the company helped the Federal Bureau of Investigation (FBI) thwart the attack. … from News – Insurance Journal https://ift.tt/34I9hFY

UK Supreme Court Denies Patent Appeals by Huawei and ZTE Over Mobile Technology

The United Kingdom’s Supreme Court on Wednesday unanimously dismissed appeals by China’s Huawei and ZTE in patent disputes over mobile data technology with Unwired Planet International and Conversant Wireless. The first appeal concerned an action brought by Unwired against Huawei … from News – Insurance Journal https://ift.tt/2QtSBts

Black Farmers Sue to Force Roundup Weedkiller Ban or Product Warnings

A group of Black U.S. farmers filed a federal lawsuit on Wednesday, seeking to force Bayer AG to either stop selling its widely used weedkiller Roundup or roll out new product warnings. The National Black Farmers Association’s filing is the … from News – Insurance Journal https://ift.tt/31zp5sw

NTSB Finds Limo Owner Evaded Safety Rules Before Fatal New York Crash

The owner of the stretched limousine that crashed and killed 20 people in upstate New York repeatedly changed the listed number of seats in the vehicle and took other steps to avoid safety regulations, according to documents released Wednesday by … from News – Insurance Journal https://ift.tt/3gz4cC5

Exotic Dancer Involved in 2010 Crash Gets $8.6M from Insurer

A former exotic dancer seriously injured in a 2010 car crash with an off-duty Massachusetts police officer has been paid about $8.6 million by the insurance company for the strip club, according to court records. Kailee Higgins was paid by … from News – Insurance Journal https://ift.tt/31B1dVD

Trade-offs are needed to create pandemic policy, says Liiba

CEO Christopher Croft argues that governments and private insurers need to collaborate on solution capable to respond to future pandemics in order to keep costs down for taxpayers. from Insurer - insuranceage.co.uk https://ift.tt/31AjUsi

COVID + Influenza: This Is a Good Year to Get a Flu Shot, Experts Advise

Flu season will look different this year, as the country grapples with a coronavirus pandemic that has killed more than 172,000 people. Many Americans are reluctant to visit a doctor’s office and public health officials worry people will shy away from being immunized. Although sometimes incorrectly regarded as just another bad cold, flu also kills tens of thousands of people in the U.S. each year, with the very young, the elderly and those with underlying conditions the most vulnerable. When coupled with the effects of COVID-19, public health experts say it’s more important than ever to get a flu shot. If enough of the U.S. population gets vaccinated — more than the 45% who did last flu season — it could help head off a nightmare scenario in the coming winter of hospitals stuffed with both COVID-19 patients and those suffering from severe effects of influenza. Aside from the potential burden on hospitals, there’s the possibility people could get both viruses — and “no one knows what...

Opposition to Obamacare Becomes Political Liability for GOP Incumbents

In the 2014 elections, Republicans rode a wave of anti-Affordable Care Act sentiment to pick up nine Senate seats, the largest gain for either party since 1980. Newly elected Republicans such as Cory Gardner in Colorado and Steve Daines in Montana had hammered their Democratic opponents over the health care law during the campaign and promised to repeal it. Six years later, those senators are up for reelection. Not only is the law still around, but it’s gaining in popularity. What was once a winning strategy has become a political liability. Public sentiment about the ACA, also known as Obamacare, has shifted considerably during the Trump administration after Republicans tried but failed to repeal it. Now, in the midst of the COVID-19 pandemic and the ensuing economic crisis, which has led to the loss of jobs and health insurance for millions of people, health care again looks poised to be a key issue for voters this election. With competitive races in Colorado, Montana, Arizona, No...

Insured Pandemic Losses ‘Manageable’ as Earnings’ Event, Not a Capital Event

While COVID-19 losses are large and significant for the insurance sector, they are an earnings’ event, rather than a capital event, according to report issued by Hyperion X, the data and analytics division of Hyperion Insurance Group. In its second … from News – Insurance Journal https://ift.tt/34ClX17

Software Firms, MGA Systems and NetRate, Merge

Two technology providers for managing general agency marketplace are merging their products and firms. MGA Systems Inc., a provider of software for MGAs and excess and surplus brokers, said it has executed a merger with NetRate Systems Inc., a commercial … from News – Insurance Journal https://ift.tt/3lkrteN

Bayer’s $11 Billion Roundup Settlement Hits Some ‘Bumps’

German drug company Bayer AG said on Thursday there were “bumps” in sealing its $11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer after a U.S. judge cast doubt on the progress of the agreement. Bayer … from News – Insurance Journal https://ift.tt/3jmvVrE

How to Build an Insurance or Any Business with Community at the Center

It’s a common corporate practice to use philanthropic pursuits to improve both their communities and public images. Some organizations donate both funding and manpower through formal philanthropy programs. Others choose to give regularly to selected charities. But for Pamela Davis, … from News – Insurance Journal https://ift.tt/2G5ydwV

Analytics Helping Insurers Identify Workers’ Compensation ‘Mega’ Claims More Quickly

The share of “mega” workers’ compensation claims — those expected to cost $3 million or more — climbed steadily since 2013 after dropping as construction employment declined sharply during the Great Recession, according to a report by the National Council … from News – Insurance Journal https://ift.tt/31AuZty

CFC to Expands Coverage to FinTechs with Package Policy

CFC, a specialist insurance provider of emerging risks, has expanded its suite of products for financial institutions with the launch of a new product built specifically to cover the risks faced by organizations operating in the fintech space. According to … from News – Insurance Journal https://ift.tt/3gzmiUz

North Carolina Fines Gerber Life Insurance Co. $1.1 million for Claims Violations

The North Carolina Department of Insurance has entered into a voluntary settlement agreement with Gerber Life Insurance Company that includes a $1.1 million penalty for numerous violations related to its claims practices for accidental death and dismemberment policies, according to … from News – Insurance Journal https://ift.tt/3jmr0qG

North Carolina Insurance Donor to Appeal Conviction, Accuses Commissioner of Perjury

An insurance company founder and big political donor heading to prison after being convicted of attempting to bribe North Carolina’s top elected regulator of the industry remains confident he’ll get a new trial or overturned conviction. In a letter sent … from News – Insurance Journal https://ift.tt/3lnNQjn

FBI Recovers $3M in Stolen Ventilators in South Florida

A $3 million shipment of ventilators stolen that was stolen earlier this month was recovered in South Florida, the FBI said in a news release. The agency said the ventilators were being prepared for shipment to El Salvador by the … from News – Insurance Journal https://ift.tt/2G8yPlz

North Dakota High Court: Dem Insurance Commissioner Candidate Ineligible

The North Dakota Supreme Court has ruled that the Democratic nominee for insurance commissioner is ineligible for the November ballot. In a unanimous opinion, the high court upheld a lower court ruling that concluded Travisia Martin hasn’t lived in the … from News – Insurance Journal https://ift.tt/32ylN89

World Insurance Associates Acquires Kansas’ Peoples Insurance Group

World Insurance Associates LLC (WIA) has acquired Peoples/Commercial Insurance Services LLC (d/b/a Peoples Insurance Group) in Topeka, Kansas. The transaction, the terms of which were not disclosed, was effective Aug. 1. Peoples Insurance Group, founded in 1917, is the largest … from News – Insurance Journal https://ift.tt/3b509wj

Damage from Whopper Hurricanes Increasing for Many Reasons

America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura because of a combination of increased coastal development, natural climate cycles, reductions in air pollution and man-made climate change, experts say. The list … from News – Insurance Journal https://ift.tt/3hBZkxw

Arkansas Sees Near-Record Increase in COVID-19 Deaths

Arkansas on Wednesday reported its second-highest one-day increase in COVID-19 deaths so far and 649 new confirmed cases of the coronavirus that causes the illness. The Department of Health said the 21 new deaths bring the state’s death toll to … from News – Insurance Journal https://ift.tt/31BdwRy

UK Broker Ed Hires Paragon’s Head as Professional, Cyber Lines Producer

London-based brokerage Ed announced the appointment of John Head as a broker and producer. Head will support the growth of the professional and executive risk portfolio, a key area of focus and development for Ed, and also represent the firm’s … from News – Insurance Journal https://ift.tt/3lmFPew

European Union Safety Agency to Start 737 MAX Flight Tests

The European Union Aviation Safety Agency (EASA) said on Thursday it plans to begin flight tests of U.S. planemaker Boeing Co.’s 737 MAX plane in Vancouver, Canada, in the week starting Sept. 7. The test flights will start more than … from News – Insurance Journal https://ift.tt/32ueX3M

Where ‘DeFi’ Crypto Users See Sure Bets During COVID, Critics See Unregulated Risks

It sounds like a surefire bet. You lend money to a borrower who puts up collateral that exceeds the size of the loan, and then you earn interest of about 20%. What could possibly go wrong? That’s the proposition presented … from News – Insurance Journal https://ift.tt/2G3VvTS

Global Reinsurers’ Coronavirus Claims Jumped in Q2: Moody’s

During the second half of 2020, global reinsurers reported anemic earnings amid an increase in coronavirus claims, although investment returns rebounded, Moody’s Investors Service reported. A bright spot was strong pricing momentum and capital levels remains healthy, but a high … from News – Insurance Journal https://ift.tt/2YErhwZ

New Jersey Driver Accused of Texting Gets Prison in Pedestrian’s Death

A New Jersey woman has been sentenced to five years in prison in the death of a pedestrian that prosecutors said occurred as the driver was texting – an accusation the defendant denied on the stand. Alexandra Mansonet, 51, of … from News – Insurance Journal https://ift.tt/31z3rVo

Virginia Man Pleads Guilty to $1M Virus Fraud Scheme

A northern Virginia man has pleaded guilty to a $1.4 million fraud scheme to obtain federal funds meant for businesses struggling under the coronavirus pandemic. Tarik Jaafar, 42, of Woodbridge, admitted in U.S. District Court in Alexandria that he created … from News – Insurance Journal https://ift.tt/2Ez6Jz8

UConn Receives $768K for Study of Crumbling Foundations

The federal government has awarded the University of Connecticut $768,000 to fund ongoing research into the problem of crumbling home foundations in eastern Connecticut. The goal of the research is to better understand of the scope of the crisis and … from News – Insurance Journal https://ift.tt/31yb7r5

4 of 5 Workers Remain Working from Home in UK Cities

Only 17% of workers in British cities had returned to their workplaces by early August, underscoring the challenge for Prime Minister Boris Johnson to steer the country away from its coronavirus shutdown, data published on Thursday showed. The Centre for … from News – Insurance Journal https://ift.tt/31vyiCk

Teens and Seniors More Likely to Drive Less Safe Cars

Teen drivers and drivers 65 years and older – two age groups at a higher risk of being involved in an automobile accident – are more likely to be driving vehicles that are less safe, putting them at even higher … from News – Insurance Journal https://ift.tt/32By5gm

Complete Cover and Mulsanne parent posts £41.7m loss

The business was sold to Sun Capital last year. Since then it has secured a £1m development loan from Close Brothers and its investors has pumped £7m into Mulsanne to help with solvency. from Insurer - insuranceage.co.uk https://ift.tt/31wboun

Is Your Agency a Best Agency to Work For? Nominate Now

Do you love your agency? Is your agency a Best Place to Work? Then don’t wait – nominate your agency today as a “Best Agency to Work For” in 2020. You must be a current employee of the agency you … from News – Insurance Journal https://ift.tt/3jjVucS

Arizona’s Resecō Group Adds Gard as Senior Advisor

Jason Gard has joined Reseco Insurance Advisors LLC, a partner with United Benefit Advisors (UBA) and Insurance Agency Network (ISU), as senior advisor. Gard brings 25 years of expertise in the insurance industry, specializing in employee benefits. He will be … from News – Insurance Journal https://ift.tt/3jmCVEX

A.M. Best Warns of Effects of Hurricane Laura Losses on P/C Insurers

Ratings analysts at A.M. Best expect losses from Hurricane Laura to stress their rated insurance companies’ balance sheets, which they add have already been weakened by the COVID-19 pandemic. While reinsurance may help mitigate losses, the losses from the hurricane … from News – Insurance Journal https://ift.tt/3bcmY1j

EU Officials Erase Brexit from Meeting Agenda Citing Lack of Progress in Talks with Britain

A discussion about the negotiations over Britain and the European Union’s post-Brexit relationship has been dropped from the agenda of a meeting of EU envoys next week because the talks have stalled, an EU diplomat said on Wednesday. Earlier, the … from News – Insurance Journal https://ift.tt/3jb47X4

Employers Face Increase In COVID-19 Wrongful Death Lawsuits

As COVID-19 cases and deaths continue to rise, so too does the number of lawsuits filed against employers. Recently, an increasing number of families of employees who died from COVID-19 have asserted wrongful death actions against employers for failing to … from News – Insurance Journal https://ift.tt/3lh1tAZ

P/C Insurance First-Half Underwriting, Net Income Drops Tied to COVID

U.S. property/casualty insurance underwriting income dropped 5.5 percent in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are to blame, according to an A.M. Best report. … from News – Insurance Journal https://ift.tt/34BI9Ix

Worker Killed Working on Outer Banks Bridge in North Carolina

A person has died while working on a new bridge on North Carolina’s Outer Banks. The Virginian-Pilot reports that the fatal injury occurred on Monday. The bridge is going up over the Pamlico Sound in Rodanthe. Tim Hass, spokesman for … from News – Insurance Journal https://ift.tt/3gtomNL

University of Alabama Reports More than 500 COVID Cases, City Closes Bars

The University of Alabama has recorded 531 cases of COVID-19 on campus since the fall semester began last week, according to numbers the university system released Tuesday as officials try to clamp down on student parties, bars and other gatherings … from News – Insurance Journal https://ift.tt/2QqdDJu

As FAIA Chief Grady Says Goodbye, He Shares His Top 10 Moments

For 22 years, the Florida Association of Insurance Agents has been led by Jeff Grady, president and chief executive officer, who admits that when he started all those years ago he did not expect to “fall in love with insurance … from News – Insurance Journal https://ift.tt/2ExWeMx

Summer Camp Hosted 1,000 Visitors While Successfully Managing Coronavirus

Four overnight camps in Maine successfully stemmed the spread of the novel coronavirus and conducted sessions with over 1,000 attendees from 41 states and international locations this summer, according to a new report published on Wednesday. The findings in the … from News – Insurance Journal https://ift.tt/32p6VJk

Hurricane Laura Threatens ‘Unsurvivable Storm Surge’; 620,000 Ordered to Evacuate

PORT ARTHUR, Texas, Aug 26 – Hurricane Laura barreled toward the Gulf Coast on Wednesday as a massive Category 4 storm that was strengthening and forecast to cause catastrophic damage and “unsurvivable storm surge” along the Texas and Louisiana border, … from News – Insurance Journal https://ift.tt/31xfum1

California Commissioner Issues Emergency Notice to Expedite Wildfire Claims

California Insurance Commissioner Ricardo Lara on Wednesday issued an emergency notice to all property/casualty insurance companies doing business in California, requesting they expedite claims handling for California wildfire survivors in order to help them begin the recovery and rebuilding process … from News – Insurance Journal https://ift.tt/3lwEqSS

California Workers’ Comp Bureau Submits Premium Rate Filing

The Workers’ Compensation Insurance Rating Bureau of California has submitted its Jan. 1, 2021 pure premium rate filing to the California Department of Insurance, proposing advisory pure premium rates that are on average 2.6% above the average approved Jan. 1, … from News – Insurance Journal https://ift.tt/3hJr1UU

Virginia’s Markel Corporation Appoints Chu as Chief Risk Officer

Markel Corporation has appointed Julia Chu as chief risk officer, effective immediately. In this new role, Chu will be responsible for Markel’s enterprise risk management, capital planning and ceded reinsurance placements. Each of these functions serve a critical role in … from News – Insurance Journal https://ift.tt/3hC742E

Widower Files Suit Over Woman’s Death from Falling Debris in Manhattan

A widower whose wife died when she was hit by falling debris on a Manhattan street filed a lawsuit against the building’s owner and the city, claiming negligence and wrongful death. The civil suit from Steven Tishman in connection to … from News – Insurance Journal https://ift.tt/32pMYlz

Coronavirus Erodes Countries’ Economic Resilience; Global Insurance Gaps Widen

The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same time, the combined global protection gap for … from News – Insurance Journal https://ift.tt/3aYDEJx

Natural Catastrophe Claims Cost Insurers More Than Coronavirus in First Half: Fitch

COVID-19-related claims were not the biggest driver of the North American property/casualty insurance industry’s overall combined ratio during the first six months of 2020. Natural catastrophes cost insurers more, Fitch Ratings concluded in its latest report. Pandemic-related claims increased the … from News – Insurance Journal https://ift.tt/2YARcWl

Limited Liability Protection for Drugmakers Hampers EU Coronavirus Vaccine Deals

The European Union is offering only partial protection to vaccine makers against legal risks from side-effects of their potential COVID-19 shots, European officials said, in a move that is hampering deals and contrasts with U.S. policy. With vaccines being developed … from News – Insurance Journal https://ift.tt/3jcN9rl

People Moves: 24 - 28th August 2020

Keep up to date with the latest job changes. from Insurer - insuranceage.co.uk https://ift.tt/2D3PwNM

Blog: Helping clients prepare for a post-pandemic future

Craig Thornton, insurance lead at Lloyds Banking Group considers the role of the sector during the pandemic. from Insurer - insuranceage.co.uk https://ift.tt/3hvijd3

Miami Dolphins Face Criticism Over Plan to Host 13K Fans at Home Opener

The Miami Dolphins will allow up to 13,000 socially distancing fans to attend their home opener against Buffalo on Sept. 20, a decision that divided political leaders and upset Bills coach Sean McDermott. The same plan will be followed for … from News – Insurance Journal https://ift.tt/34Lz7Jp

5 Firefighters Injured in South Carolina Industrial Plant Fire

Five firefighters were injured while battling a large fire at a South Carolina industrial plant. News outlets report that the fire began before dawn Monday at the Carolina Poly plant in Chester County. The plant is located along state Route … from News – Insurance Journal https://ift.tt/31tn1Cn

New COVID Clusters Appear at One North Carolina University

East Carolina University reported new COVID-19 clusters at two more dormitories on Monday, two days before the school transitions to online instructions. The school issued an alert saying six positive cases had been reported each at Jones Hall and White … from News – Insurance Journal https://ift.tt/31uoPLn

Ziegler Joins CopperPoint Insurance as Senior VP, Operations

CopperPoint Insurance Companies, a super regional commercial insurance company based in Phoenix, Ariz., has hired Kathleen Ziegler in a newly created role as senior vice president, Operations. Ziegler will be responsible for overseeing business operations, procedures and efficiency to support … from News – Insurance Journal https://ift.tt/3gw0IQI

Former Washington State Student Sues School District Over Mass Shooting

A former student at a high school in Washington state who survived a school shooting is suing the district for what she claims was a preventable attack. The mass shooting killed four students and the gunman in 2014. Carmen Lopez, … from News – Insurance Journal https://ift.tt/3lmmYjA

Johnson & Johnson to Acquire Assets of Georgia-Based National Program Management

Johnson & Johnson will expand its presence in Georgia by acquiring the assets of National Program Management (NPM) located in Alpharetta. The parties expect the transaction to close Sept. 1, 2020. National Program Management’s origins date back to the mid-1980s … from News – Insurance Journal https://ift.tt/2YD8GSe

U.S. to Fine Nursing Homes That Fail to Meet Testing Mandate

Nursing homes in the United States will now be required to test staff for COVID-19 and offer testing to residents, the Centers for Medicare & Medicaid Services (CMS) said on Tuesday. The new rules also mandate nursing homes to share … from News – Insurance Journal https://ift.tt/2ErjCvd

U.S. Charges Teva With Conspiring to Fix Generic Drugs Prices

The U.S. Justice Department charged Teva Pharmaceutical Industries Ltd. on Tuesday with conspiring with competitors to raise prices for generic drugs. The Justice Department has been investigating allegations the company colluded with other drugmakers to push up the prices of … from News – Insurance Journal https://ift.tt/31rfLqF

MS Amlin Names Everest Re’s Carrier as Chief Underwriting Officer as 3 Step Down

MS Amlin Underwriting Limited, the Lloyd’s (re)insurer, has appointed Andrew Carrier to the new position of chief underwriting officer. Carrier will be responsible for managing all of MS AUL’s underwriting business, including the syndicate’s Reinsurance and Specialty Insurance divisions. He … from News – Insurance Journal https://ift.tt/2EzYIda

Honda to Pay $85 Million to States Over Defective Takata Air Bags Claims

Units of Honda Motor Co. have agreed to pay $85 million to settle an investigation by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday. The … from News – Insurance Journal https://ift.tt/34yOS6j

Crest Insurance in Arizona Names Benedetto Senior Vice President

Crest Insurance Group of Scottsdale, Ariz., has named Frank Benedetto a senior vice president of the employee benefits division. Benedetto has more than 30 years of experience. He held numerous positions in the healthcare industry, including as executive director of … from News – Insurance Journal https://ift.tt/2EFdsao

Carnival Cancels 2 Early 2021 Princess Cruises Over COVID-19 Restrictions

Carnival Corp.’s Princess Cruises said on Monday it would cancel early 2021 cruises on two ships, citing travel, border and port restrictions due to the COVID-19 pandemic. Cruise lines, hammered by a crisis that has seen some ships turn into … from News – Insurance Journal https://ift.tt/3lgJr1z

Hurricane Laura’s Timing, Direction Bring Harvey, Katrina to Mind

Tropical Storm Laura morphed into a hurricane on Aug. 25, 2020 — three years to the day after Hurricane Harvey swept ashore on the Texas Gulf Coast — and is expected to make landfall just days before the 15-year anniversary … from News – Insurance Journal https://ift.tt/3aX0CR2

CDI: 3 Charged with Auto Insurance Fraud, Forgery in California

Three Californians have been charged with multiple felony counts of insurance fraud and forgery for allegedly filing fraudulent insurance claims on a former employee’s policy and intercepting insurance checks to receive undeserved payouts. The California Department of Insurance reported that … from News – Insurance Journal https://ift.tt/2D2qmPA

Bodies of Remaining 2 Missing in Texas Port Explosion Found

The bodies of the remaining two crew members of a dredging boat who were missing after an explosion last week in the Port of Corpus Christi in Texas were found on Aug. 24, the U.S. Coast Guard said. Four people … from News – Insurance Journal https://ift.tt/34vEkoo

Revved by South Dakota’s Sturgis Rally, Virus Infections Move Fast, Far

The hundreds of thousands of bikers who attended the Sturgis Motorcycle Rally may have departed western South Dakota, but public health departments in multiple states are trying to measure how much and how quickly the coronavirus spread in bars, tattoo … from News – Insurance Journal https://ift.tt/3gtQ7WD

Storm Damages New Hampshire Cottages, Creates Waterspout Over Lake

A strong storm damaged vacation cottages on New Hampshire’s Lake Winnipesaukee Saturday. The fast-moving system brought strong winds and heavy rain and created a waterspout over the lake. WMUR-TV reports that at Clearwater Lodges in Wolfeboro, two cottages were destroyed … from News – Insurance Journal https://ift.tt/2QppO9i

Maryland County Washing Away, Residents Face Hard Choices

High tides surging from a narrow creek destroyed the car Kathy Blake once parked in her gravel driveway here. Over the past two decades, the water has ruined half a dozen of them. Since October, when one of those floods … from News – Insurance Journal https://ift.tt/31ofogC

Republican Convention, Day 1: A Campaign-Style Trump Speech and More

Before the prime-time GOP showcase began, President Donald Trump took to the podium Monday afternoon and delivered an approximately one-hour campaign-style speech to delegates after he was officially renominated by the Republican Party as its candidate for president. His comments were wide-ranging, and our partners at PolitiFact found many to be either wrong, misleading, premature or in need of clarification. Here is the complete rundown from that speech and a wrap-up detailing the rest of the evening. (PolitiFact also fact-checked former Vice President Joe Biden’s acceptance speech during the Democratic National Convention.) Monday’s evening broadcast was full of platitudes. Amy Ford, a West Virginia nurse, applauded Trump’s steps during the pandemic to expand telemedicine, saying these policies are “essential” and will “continue to aid many that are unable to find transportation or a way to the doctor for regular checkups. This is especially true in rural America.” Dr. G.E. Ghal...

Conn. Offers Coverage Guidance Due to Power Outages After Tropical Storm Isaias

In the aftermath of Tropical Storm Isaias, Connecticut Governor Ned Lamont and Insurance Commissioner Andrew N. Mais are reminding policyholders to review their homeowners insurance policies to understand their coverage for property damage due to loss of power as the … from News – Insurance Journal https://ift.tt/31qGbbY

Lloyd’s Appoints Canal’s Bond as U.S. Head of Claims

Lloyd’s of London has named Carey Bond as U.S. head of Claims, a newly created role that stems from the Future at Lloyd’s strategy. Based in Greenville, South Carolina, he’ll be responsible for overseeing U.S. claims processing across the Lloyd’s … from News – Insurance Journal https://ift.tt/31sEMBQ

Insurance Run-Off Specialist Marco Capital Acquires British Reserve from Allianz

Newly-launched insurance run-off specialist Marco Capital Holdings said it has agreed to purchase British Reserve Insurance Co. Ltd., a UK non-life insurance company, from Allianz. The transaction, Marco’s first, is subject to regulatory approval. Marco said the transaction provides the … from News – Insurance Journal https://ift.tt/3ll7w7I

Sierra Leone Residents’ Damages Suit Against Miner Is Part of Activist Trend

FREETOWN – At the foot of a slag heap some 40 meters high, Adi Kalie Bangura showed the black welts that dot his arms and legs that he says are the result of drinking and bathing in water contaminated by … from News – Insurance Journal https://ift.tt/3ldkNPs

Judge Dismisses Shareholder Lawsuit Against Danske Bank and Officers

A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni … from News – Insurance Journal https://ift.tt/2YzawTZ

Alibaba’s Ant Group Files for Dual Listing; Could Be World’s Largest IPO Ever

Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, filed for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR Market on Tuesday and could raise as much as $30 billion in what would be the … from News – Insurance Journal https://ift.tt/3b2faPy

MS Amlin restructures underwriting team

Andrew Carrier has been appointed CUO as co-CUO management structure is dissolved with specialty and reinsurer leads to exit. from Insurer - insuranceage.co.uk https://ift.tt/3hyDT0o

Profit shoots up for ERS

Half year results highlight how motor provider has been affected by coronavirus as profit increases and COR improves. from Insurer - insuranceage.co.uk https://ift.tt/3gpX8aT

2 Washington State Agribusinesses Settle Federal Discrimination Suit for $325K

Two agribusinesses in Washington state will distribute $325,000 among 105 Thai farm workers to settle a federal national origin and race discrimination lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) said the settlement with defendants Green Acre Farms Inc. and … from News – Insurance Journal https://ift.tt/3hmZh8y

Tanner Tapped to Lead Hylant’s Family Office Practice in Beverly Hills

Toledo, Ohio-based insurance services firm, Hylant, has added personal insurance veteran, Paul Tanner, to lead its Family Office Practice in Beverly Hills, Calif. The addition of Tanner represents Hylant’s expansion to California. Tanner is a Certified Advisor of Personal Insurance … from News – Insurance Journal https://ift.tt/2Qpl6Zn

Veteran’s Appendectomy Launches Excruciating Months-Long Battle Over Bill

In late August 2019, Shannon Harness awoke to serious pain in the lower right side of his abdomen — a telltale sign of appendicitis . He booked it to the emergency room of the only hospital in the county: Heart of the Rockies Regional Medical Center in Salida, Colorado. After a CT scan, doctors told Harness he had acute appendicitis and required immediate surgery. A surgeon performed an appendectomy that night and released Harness the next day. But a couple of days later, Harness felt sharp pains where his appendix had been. The pain grew until he was on the floor screaming. “It was disturbing,” said Eliza Novick-Smith, his partner. “He has a pretty high pain tolerance,” given previous injuries from military service and mountain biking. Harness went back to the hospital, where another CT scan revealed a blood clot the size of a brick floating in his pelvic area, a rare complication that most likely came from clipping and stapling the appendix tissue in the first surgery, said his...

Mortenson Joins Pinnacle Actuarial Resources in Denver Area

Property/casualty insurance consulting firm, Pinnacle Actuarial Resources Inc. (Pinnacle), has added Erick Mortenson as a consulting actuary in the Denver area. Mortenson joins Pinnacle after a tenure at Willis Towers Watson, where he was a senior vice president focused on … from News – Insurance Journal https://ift.tt/2YyOzV0

Georgia Dept. of Public Safety Claims Police Wrote Tickets Outside Jurisdiction

A small Georgia city’s police department wrote more than 130 speeding tickets on a road where it had no jurisdiction, a state agency’s investigation found. Citations issued on Kildare Road over a two year period by police in the city … from News – Insurance Journal https://ift.tt/32ipqz4

11 Charged in Louisiana Staged Truck Crash Insurance Fraud Scheme

Eleven people have been in indicted in what law enforcement officials say is an expanding probe into tractor-trailer accidents staged in New Orleans, Louisiana, to defraud trucking and insurance companies. The 11 accused — 10 from Louisiana and one from … from News – Insurance Journal https://ift.tt/2CZY1JI

Former Oregon School District Student Sues, Says Principal Molested Him

A former student of the Gresham-Barlow School District in Oregon has filed a $3 million lawsuit against the district and former Deep Creek Elementary School principal Jeff Hays, saying he was sexually abused by Hays. The former student is the … from News – Insurance Journal https://ift.tt/2YusXJs

Insurance Office Of America Promotes Peters to Chief Operating Officer

Insurance Office of America (IOA) has promoted Robert J. Peters to the role of chief operating officer (COO). Peters formerly held the role of COO as part of his over 25 years’ experience in the insurance industry. Peters joined IOA … from News – Insurance Journal https://ift.tt/31nelxs

Universal Property Insurance Expands into Tennessee

The wholly-owned subsidiary of Universal Insurance Holdings, Inc.’s Universal Property & Casualty Insurance Co. (Universal Property), has received a certificate of authority in Tennessee, approving Universal Property as a licensed insurance entity in Tennessee. According to Universal Insurance Holdings, Inc. … from News – Insurance Journal https://ift.tt/2FVCh2H

Anbang, Andy Bang, $1 Trillion in Claims. Ritz-Carlton Mystery Gets Its Day in Court.

When a 26-year-old Uber driver walked into a California deeds office two years ago, it was the real-estate equivalent of a butterfly flapping its wings and causing a tsunami half a world away. Hired by an elderly Chinese passenger to … from News – Insurance Journal https://ift.tt/3j9Gi1O

Report: Data Shows Oklahoma Face Mask Mandates Are Reducing Virus Spread

Face mask mandates adopted in some Oklahoma communities to reduce the spread of COVID-19 seem to be working, according to a newspaper report. Data from the Oklahoma State Department of Health shows cities with mask mandates nearly cut in half … from News – Insurance Journal https://ift.tt/34Bxy0a

6-Story Building Collapses in St. Louis; No One Hurt

A six-story brick building that was part of a brewery complex built more than 150 years ago collapsed Sunday in St. Louis but no one was injured. Caution tape had been put up around the building last week after the … from News – Insurance Journal https://ift.tt/2QkCi1U

FEMA Aid OK’d for Iowa County Hardest Hit by Storm

President Donald Trump has approved Federal Emergency Management Agency funding for eastern Iowa’s Linn County, which was the county that was hardest hit by last week’s rare hurricane-strength windstorm. Gov. Kim Reynolds’ office announced the approval. The FEMA individual assistance … from News – Insurance Journal https://ift.tt/3aRpR7m

Two Bodies Found, Two Missing After Explosion in Texas Port

The bodies of two missing crew members of a dredging boat were found on Saturday, Aug. 22 following an explosion a day earlier in the Port of Corpus Christi in Texas, according to the U.S. Coast Guard. The search for … from News – Insurance Journal https://ift.tt/3glks9D

EPA to OK Use by American Airlines of Surface Coating to Fight COVID-19

The U.S. Environmental Protection Agency is set to announce it will issue an emergency exemption to the state of Texas permitting it to allow American Airlines Group Inc. to use a new surface coating that kills coronaviruses for up to … from News – Insurance Journal https://ift.tt/2YwigWN

How the Coronavirus Spread So Quickly Across U.S.

As the United States exceeds 5 million reported coronavirus cases — the world’s first country to do so — epidemiologists have pinpointed what helped to set the country on this path. Research from the University of Notre Dame estimates that … from News – Insurance Journal https://ift.tt/3jaOsHb

China Regulator Pledges Continued Backing of Hong Kong as Financial Center

China’s banking regulator pledged its backing for Hong Kong as a finance hub and reiterated a commitment to opening up the Chinese financial sector amid a deepening standoff with the U.S. China will provide support for its financial institutions doing … from News – Insurance Journal https://ift.tt/3gpXrm6

Hedge Fund Collects $3 Billion in Bet on Wildfire Insurance Claims

Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people with knowledge of the … from News – Insurance Journal https://ift.tt/31omLEL

Berkshire Hathaway Specialty Adds ERGO’s Keune to Head Executive Lines in Germany

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Dr. Carsten Keune as head of Executive & Professional Lines in Germany. Carsten has more than 20 years of industry experience. He was most recently head of global commercial lines underwriting at ERGO … from News – Insurance Journal https://ift.tt/34urKG4

Marco Capital Targets Europe’s P/C Insurance Run-Off Market

Newly-launched Marco Capital Holdings Limited plans to pursue property/casualty insurance run-off opportunities in Continental Europe, the UK and Lloyd’s of London. Marco enters the European run-off arena with capital resources provided by majority investor Oaktree and Marco’s own management. The … from News – Insurance Journal https://ift.tt/3hpW48l

Britain, EU Report Little Progress on Post-Brexit Deal

Britain and the European Union made scant progress towards a deal on future ties in talks last week, and their chief negotiators blamed each other for the stalemate as time ticks down to an end-of-year deadline. “Those who were hoping … from News – Insurance Journal https://ift.tt/2QmKZZS

New Jersey High Court Sides with Pfizer Over Religious Discrimination Suit

A former Pfizer employee who said she was fired for refusing a vaccine on religious grounds can’t proceed with a discrimination lawsuit because she waived that right, New Jersey’s Supreme Court ruled Tuesday in a decision two justices called potentially … from News – Insurance Journal https://ift.tt/3le1Wny

Global Dividends Outcome ‘Worst Since Global Financial Crisis’

The coronavirus crisis will see the world’s biggest firms slash dividend payouts between 17%-23% this year or what could be as much $400 billion, a new report has shown, although sectors such as tech are fighting the trend. Global dividend … from News – Insurance Journal https://ift.tt/3jdcwt9

Property Insurer Not Off the Hook for Claim Stemming from Fight Over Fish

A policy that excludes damages caused by “physical abuse” does not take a property insurer off the hook for a claim by an insured who agreed to pay $500,000 to settle a lawsuit stemming from injuries caused by an alleged … from News – Insurance Journal https://ift.tt/3gqFnIm

U.S. Needs an SEC for Its Health Care System: Opinion

The U.S. health care system suffers from a lack of transparency. Employers, insurers and individual consumers pay varying prices for treatments, drugs and digital information of varying quality, without knowing whether the prices are relatively high or low, or whether … from News – Insurance Journal https://ift.tt/2EzSklS

Das UK posts profit rise for 2019

The legal expenses provider's COR worsened to 99.2% over the year while GWP fell slightly. from Insurer - insuranceage.co.uk https://ift.tt/3aRAMhd

Former Brightside boss Mark Cliff takes NED role at MGA

Cliff has been appointed chairman of the firm which specialises in the social housing sector, travel and associated insurance and property insurance. from Insurer - insuranceage.co.uk https://ift.tt/2EvexBT

California Electrical Contractor to Pay $1.25M to Settle Racial Harassment Suit

A San Jose, Calif.-based electrical subcontractor at the Apple Park construction project, will pay will pay $1,250,000 and provide other relief to settle a racial harassment lawsuit. Air Systems Inc. (ASI) will pay the $1,250,000 to eight African American former … from News – Insurance Journal https://ift.tt/31nALif

Trump Administration, Airlines Can’t Agree on Contact Tracing Plan

The Trump administration’s efforts to require airlines to collect contact tracing information from U.S.-bound international passengers has stalled, five people briefed on the matter told Reuters on Friday, adding such a mandate is unlikely this year. Major airlines and administration … from News – Insurance Journal https://ift.tt/2CSoPvg

Crest Insurance in Arizona Names Nelson COO of Employee Benefits Division

Crest Insurance Group of Tucson, Ariz., has named Matt Nelson chief operating officer of the employee benefits division. Nelson joined Crest Insurance in 2020 as a benefits and commercial lines consultant. He was a vice president with Lovitt & Touche … from News – Insurance Journal https://ift.tt/2QkCSNe

Lockton Adds Henry to Transaction Liability Team in California

Lockton has added Philip Henry to its transaction liability. Henry is based in San Francisco, Calif. He is a former mergers and acquisitions attorney and representations and warranties insurance underwriter whose practice focused on both domestic and cross-border private equity … from News – Insurance Journal https://ift.tt/34o3JjT

3 Kentucky Businesses Damaged by Roof Collapse

A structural engineer was expected to investigate on Saturday what caused a roof to collapse in western Kentucky, damaging at least three businesses. Shattered glass and debris were found in the street when authorities responded late Friday in downtown Henderson, … from News – Insurance Journal https://ift.tt/2EtWUlM

Wright National Expands Flood Products into Virginia

Wright National Flood Insurance Services (WNFIS) has introduced two private flood insurance products for Virginia residential property owners – The Wright Residential Private Flood Insurance Program and Hiscox FloodPlus. The company now offers Hiscox FloodPlus in a dozen states and … from News – Insurance Journal https://ift.tt/3hjGZoG

How COVID-19 Could Impact Post-Hurricane Loss Inflation in Florida: AIR Worldwide

By the end of March 2020 people were wondering what the impact of COVID-19 on the upcoming hurricane season would be. There is no historical event to provide evidence for how the scenario might unfold, so we need to start … from News – Insurance Journal https://ift.tt/2FO611j

Dueling Storms Marco, Laura Hit Haiti, Dominican, Cuba on Way to Gulf Coast

SUNDAY, 08/23/2020, 06:23 PM— Hurricane Marco and Tropical Storm Laura tore through the Caribbean and Gulf of Mexico on Sunday, forcing thousands of coastal residents in Louisiana and Cuba to evacuate and flooding roads in Haiti’s capital, with damage across … from News – Insurance Journal https://ift.tt/2EvQ676

Gulf Coast Braces for Tropical Storm Marco; States Declare Emergencies

08/22/2020 05:30 PM — Marco, one of two tropical storms headed for the U.S. Gulf Coast, was forecast to strengthen into a hurricane later on Saturday as coastal governors urged residents to prepare for the unprecedented weather event amid the … from News – Insurance Journal https://ift.tt/3aPq0rN

Federal Panel Backs Workers’ Comp for Washington State Hanford Employees

A federal appeals court has unanimously ruled that Washington has a right to create laws giving employees of the Hanford Nuclear Reservation easier access to health benefits if they become ill at work. The decision by a panel of judges … from News – Insurance Journal https://ift.tt/3gkcmyj

Class Action Targets Commonwealth Bank of Australia Over Insurance Advising

Commonwealth Bank of Australia (CBA) said on Friday a class action lawsuit was filed over advice given on life insurance policies issued and recommended by three former subsidiaries. The lawsuit was filed by Shine Lawyers against financial advisors Commonwealth Financial … from News – Insurance Journal https://ift.tt/3ldv5zh

Direct Insurance Names Business Development Manager for Its Lloyd’s Brokers

Direct Insurance Group has appointed Simon England to business development manager for its Lloyd’s broker division, Direct Insurance London Market (DILM). England joins from Compass where he was strategic accounts manager. He has 20 years’ experience as a business development … from News – Insurance Journal https://ift.tt/3lgex9M

Weather Service Probes Damage in New Jersey to Determine if Tornado Hit

National Weather Service officials on Thursday were trying to determine if a tornado touched down as a severe thunderstorm moved across a portion of New Jersey. Heavy rain and powerful winds sent residents scrambling in the Lincroft section of Middletown … from News – Insurance Journal https://ift.tt/3aJAeKo

N.Y. Regulator Fines Assurant Subsidiary $2.8M for Violating State Insurance Laws

The New York State Department of Financial Services (DFS) has fined The Signal, LP, an Assurant Company, $2.8 million for failing to comply with New York insurance laws. A DFS press release alleged that The Signal provided inadequate consumer disclosures … from News – Insurance Journal https://ift.tt/31eCDcO

Randall & Quilter to Acquire World Marine & General Insurance From BHP

Randall & Quilter II Holdings Limited has agreed to acquire the entire issued share capital of The World Marine & General Insurance Co. from BHP Group Limited. WMG was incorporated in England & Wales in 1894 and was purchased in … from News – Insurance Journal https://ift.tt/2Ek4iQG

Alera Group Acquires Maryland’s FNL Insurance Group

Alera Group, a national employee benefits, property and casualty, retirement services and wealth management firm, has acquired FNL Insurance Group, effective August 1, 2020. For more than 40 years, FNL Insurance Group has been helping clients with their employee benefit … from News – Insurance Journal https://ift.tt/3l7uizK

Morse Insurance Agency Adds Polutchko as Commercial Lines Sales Account Executive

Morse Insurance Agency Inc. has added industry veteran David Polutchko as its newest commercial lines sales account executive. Polutchko brings more than 22 years of insurance experience to the local independent agency. In his new role, Polutchko is responsible for … from News – Insurance Journal https://ift.tt/3l3sqYF

Judge Agrees to Some VW Requests to Limit SEC Lawsuit Over Diesel Scandal

A U.S. judge on Thursday dismissed portions of a U.S. Securities and Exchange Commission lawsuit accusing Volkswagen AG of defrauding American investors in connection with the automaker’s diesel emissions scandal. U.S. District Judge Charles Breyer in San Francisco granted VW’s … from News – Insurance Journal https://ift.tt/34xW6HN

S&P Says Underwriting in Lloyd’s Market Continues to Improve

The Lloyd’s market looks unlikely to turn an underwriting profit in 2020 given the pandemic and hurricane season. However, there a signs of improvement, according to analysts at S&P Global Ratings. S&P notes that the COVID-19 pandemic has already caused … from News – Insurance Journal https://ift.tt/3gdAdPT

Hong Kong to Begin Widespread COVID-19 Testing Sept. 1

Hong Kong leader Carrie Lam said on Friday that mass testing of residents for coronavirus in the Asian financial hub will begin on Sept. 1, as she warned people not to be complacent despite a steady fall in the number … from News – Insurance Journal https://ift.tt/32g9NZ1

Ecclesiastical reports £59.7m loss after Covid-19 hit

GWP was up by 9% in the first half of 2020, while the provider's COR worsened to 101.1%. from Insurer - insuranceage.co.uk https://ift.tt/2FACxDZ

West Virginia AG Sues Walmart, CVS Over State Flooding State of Opioids

West Virginia’s attorney general sued Walmart and drugstore chain CVS on Tuesday, saying they failed to monitor and report suspicious orders of prescription painkillers to their retail pharmacies in a state ravaged by the opioid epidemic. Patrick Morrisey’s lawsuits allege … from News – Insurance Journal https://ift.tt/3hkOkVc

Convicted North Carolina Insurance Donor Gets 7 Years in Bribery Case

A major political donor convicted of attempting to bribe a North Carolina elected official to secure preferential regulatory treatment for his insurance business was sentenced Wednesday to more than seven years in prison. Billionaire businessman Greg E. Lindberg was handed … from News – Insurance Journal https://ift.tt/2FGCwhT

Valley Insurance Agency Alliance Adds Piccione as Missouri Regional Manager

St. Louis-based independent insurance agency network organization, Valley Insurance Agency Alliance (VIAA), has named Susan Piccione as its regional manager for Missouri. Piccione will oversee new business development and cultivation of the company’s Independent Strategic Member (ISM) alliance. This includes … from News – Insurance Journal https://ift.tt/2Ecs3dL

Florida Mayor, City Attorney Charged in $5M Hurricane Michael Fraud Scheme

The mayor and city attorney of a Florida Panhandle city are the latest to be charged in the theft of $5 million in Hurricane Michael debris removal funds, prosecutors announced Wednesday. Lynn Haven Mayor Margo Anderson and City Attorney Adam … from News – Insurance Journal https://ift.tt/3htfJ76

The Liberty Company Insurance Brokers Adds Leavitt’s Larson in California

The Liberty Company Insurance Brokers has named Judy Larson a benefits producer in the San Jose, Calif. office. Larson has more than 30 years of benefits experience. She has previously worked for Willis, Risk Strategies, and most recently with Leavitt, … from News – Insurance Journal https://ift.tt/2Yjk8lE

Bayer to Pay $1.6 Billion to End 90% of U.S. Claims for Essure Birth Control Device

German drugs and pesticides group Bayer said on Thursday it will pay around $1.6 billion to settle the majority of U.S. claims involving its Essure birth-control device. The agreement follows a $10.9 billion settlement in June of U.S. lawsuits claiming … from News – Insurance Journal https://ift.tt/34iplhl

Brazilian Court Orders JBS to Require Worker Distancing After COVID Outbreak at Plant

A Brazilian court this week ordered JBS SA to impose a 1.5-meter (5-feet) distance between workers in the production line at its beef plant in Pontes e Lacerda to stop the spread of the novel coronavirus, prosecutors told Reuters on … from News – Insurance Journal https://ift.tt/3258hbS

U.S. Charges Uber’s Former Security Chief With Deliberately Concealing Major 2016 Hackingh

In an unprecedented case, a former chief security officer for Uber Technologies was criminally charged on Thursday with trying to cover up a 2016 hacking that exposed personal information of about 57 million of the ride-hailing company’s customers and drivers. … from News – Insurance Journal https://ift.tt/3glKA49

Alera Group Acquires Banasky Insurance in Utah

Alera Group has acquired Banasky Insurance Inc., which has locations in Price and Draper, Utah. Terms of the deal were not disclosed. Banasky Insurance offers property/casualty insurance solutions for clients, including commercial, life & health, and personal lines solutions. The … from News – Insurance Journal https://ift.tt/2EckUds

Michigan Governor Assessing Risk of Reopening Long-Closed Businesses

Gov. Gretchen Whitmer said that her administration is assessing the risk of reopening Michigan businesses that have been closed for five months under her orders to curb the spread of the coronavirus, saying she will have more to say next … from News – Insurance Journal https://ift.tt/3l7jSjm

Iowa’s Mandate to Reopen Schools Causing Chaos

An aggressive push by Iowa’s pro-Trump governor to reopen schools amid a worsening coronavirus outbreak has descended into chaos, with some districts and teachers rebelling and experts calling the scientific benchmarks used by the state arbitrary and unsafe. The clash … from News – Insurance Journal https://ift.tt/2YC1khV

California Says Fire Evacuees May Be Eligible for Reimbursement from Insurer

California residents who have been ordered to evacuate due to the hundreds of wildfires burning across the state my be able to recoup their evacuation costs from their insurance company, the California Department of Insurance says. Thousands of California residents … from News – Insurance Journal https://ift.tt/3hjuxoV

Chubb Signs Onto Multi-Year Sponsorship of U.S. Tennis Open

The U.S. Tennis Association announced that insurance carrier Chubb has become the official insurance sponsor of the U.S. Open under a multi-year agreement that begins immediately. Chubb’s branding will be featured in on-court signage in Arthur Ashe Stadium, Louis Armstrong … from News – Insurance Journal https://ift.tt/3jbmKKD

Data reveals dramatic drop in personal injury claims during lockdown

ACSO's Matthew Maxwell Scott says claims numbers cannot continue to be cited as the reason for increasing car insurance premiums and urges the insurance sector to cooperate to improve the customer claims journey. from Insurer - insuranceage.co.uk https://ift.tt/34h33ww

Willis Re’s Livingston Joins Guy Carpenter in New Global Head of Sales Role

Reinsurance broker Guy Carpenter & Co. has named Jeffrey Livingston as global head of Sales, effective September 1. Livingston will also join the Guy Carpenter Executive Committee. In this newly created role, Livingston will be responsible for leading all of … from News – Insurance Journal https://ift.tt/2Q9UZFx

Court Deals Blow to Litigation Funders With False Claims Act Suits

A federal appellate court dealt a blow against litigation funding companies by ruling that the U.S. Justice Department can dismiss any False Claims Act lawsuits that it deems meritless without first proving that dismissal is justified. The 7th Circuit Court … from News – Insurance Journal https://ift.tt/3aOmspR

New York Regulator Issues Insurance Fraud Action Against Two Opioid Manufacturers

The New York State Department of Financial Services (DFS) has filed charges and initiated administrative proceedings against Teva Pharmaceutical Industries Ltd. and its subsidiaries, as well as Allergan PLC and its subsidiary Allergan Finance LLC, in connection with the opioid … from News – Insurance Journal https://ift.tt/3l5nAtM

State Media Reports 14 Missing After Cargo Ship and Tanker Collide Off Shanghai

BEIJING— An oil tanker carrying 3,000 tonnes of gasoline collided with a cargo ship near Shanghai on Thursday, leaving 14 people missing, state media reported. State broadcaster CCTV showed footage of the oil tanker burning at sea as coastguard ships … from News – Insurance Journal https://ift.tt/2YjRTmP

The Union Mutual Companies Promotes Burrall in Vermont

The Union Mutual Companies recently announced the promotion of Alexis Burrall to assistant vice president of marketing. Having graduated from The University of Vermont in 2009, Burrall began her career in financial planning for a Boston, Mass.-based company. With prior … from News – Insurance Journal https://ift.tt/3iUQUBB

Dispute Among EU Regulators Delays Twitter Data Privacy Fine

Some European Union regulators objected to Ireland’s preliminary ruling in a landmark privacy investigation of Twitter, the lead regulator said on Thursday, triggering a process where a majority decision will be sought. Twitter had looked set to become the first … from News – Insurance Journal https://ift.tt/3aGFRJj

Limitations Period for Reimbursement Claims Does Not Apply in Industrial Accident Case

Reimbursement claims made against the town of Adams, Mass., by the town’s workers’ compensation insurer are not subject to the two-year statute of limitations established in a Department of Industrial Accidents (DIA) regulation, a Massachusetts Appeals Court has ruled. This … from News – Insurance Journal https://ift.tt/3l1ypx9

Japanese Lunar Exploration Firm ispace Raises $28M and Inspires Moon Insurance

The Japanese lunar exploration firm, ispace, which is developing spacecraft to carry people to the moon, just raised $28 million from the four organizations for its Series B investment round. The firm, which aspires to be a “gateway for the … from News – Insurance Journal https://ift.tt/327NPHz

Court Grants Facebook Preliminary OK to Settle Facial Recognition Privacy Claims

Facebook Inc. won preliminary approval late on Wednesday from a federal court for settlement of a lawsuit that claimed it illegally collected and stored biometric data of millions of users without their consent. The social media company had in July … from News – Insurance Journal https://ift.tt/2E9Wp0t

Chinese Crowdfunding, Insurance Site Waterdrop Raises $230 Million, Plans U.S. IPO

Chinese online insurance technology platform Waterdrop Inc. has raised $230 million in a new funding round led by reinsurer Swiss Re and Chinese internet giant Tencent Holdings, it said on Thursday. Waterdrop’s existing investors, including IDG Capital and Wisdom Choice … from News – Insurance Journal https://ift.tt/2QbrGm8

Francois-Xavier Boisseau succeeds Amanda Blanc as ERS chairman

The former Ageas boss takes over after Blanc's move to become Aviva CEO. from Insurer - insuranceage.co.uk https://ift.tt/32nU7mH

Blog: How to grow a specialist customer base in four simple steps

Delegated authority schemes can help you as a broker take control of the risks they are writing and empower them to make decisions for customers. Ecclesiastical's Will Browne shares some top tips. from Insurer - insuranceage.co.uk https://ift.tt/327OWqO

The Upton Group of Alabama Partners with Acrisure

The Upton Group has entered into a partnership with global insurance broker Acrisure, which will enable The Upton Group to build on its insurance and risk management services for franchise business clients, with a special emphasis in pizza and food … from News – Insurance Journal https://ift.tt/31d6Vg8

Tennessee Gov Signs COVID-19 Business, School, Nursing Home Liability Law

Tennessee Gov. Bill Lee has signed into law sweeping protections for businesses, schools and nursing homes against coronavirus lawsuits. Lee on Monday touted the legislation as “historic” and argued the law would protect businesses from “frivolous lawsuits.” The GOP-dominated Statehouse … from News – Insurance Journal https://ift.tt/31aHv2F

Ohio Department of Insurance Adds Barron to Senior Team

Lori Barron has joined the Ohio Department of Insurance as a senior policy advisor. Barron has more than 20 years of experience in the insurance and financial services industry, having served in business and product strategy, innovation, product development, underwriting, … from News – Insurance Journal https://ift.tt/3l8MAkf

Insurance Office Of America Adds Mongold to Employee Benefits Team in Florida

Insurance Office of America (IOA) is has added Jared Mongold to its expanding team. Mongold joins the Melbourne, Fla., branch office as an employee benefits specialist. Before joining IOA, Mongold was a senior benefits advisor at Brown & Brown of … from News – Insurance Journal https://ift.tt/2EltZ38

Drug Costs for COVID-19 Patients in U.S. Hospitals Drop But May Rise Again

Medication costs for COVID-19 patients hospitalized in the United States have dropped sharply since May, reflecting advances in treatment, shorter stays and use of cheaper generic drugs. But costs may rise again as hospitals start to pay for Gilead Sciences … from News – Insurance Journal https://ift.tt/2FJxYrj

Cold Chain Mystery: Does Coronavirus Spread Via Contaminated Food Packaging?

Evidence shows that food is an unlikely route of transmitting the coronavirus across borders, but contaminated items continue to grab the spotlight, deepening the uncertainty over whether the $220 billion cold chain industry could be implicated in the spread of … from News – Insurance Journal https://ift.tt/2YkarDH

Supreme Court’s Next Obamacare Test to Happen a Week After Election

The U.S. Supreme Court said it will hear its blockbuster clash over the constitutionality of the Affordable Care Act on Nov. 10, a week after an election in which Democrats are seeking to make health care a central focus. The … from News – Insurance Journal https://ift.tt/3aGsBnR

Pandemic Hits Insurer AIA Group’s New Business in Hong Kong, China

Hong Kong-based insurer AIA Group Ltd. on Thursday reported a 37% fall in new business for the first half of the year, as the COVID-19 pandemic dented sales of its insurance products in its main markets of Hong Kong and … from News – Insurance Journal https://ift.tt/31awG0u

Report: Iowa Will Only Get Part of $4B Disaster Relief Request, for Now

President Donald Trump said he had signed an emergency declaration for Iowa to help supply federal money to help the state recover from an unusual wind storm that struck a week ago but federal emergency management officials later confirmed he … from News – Insurance Journal https://ift.tt/2CGgY3M

Judge: North Dakota Insurance Commissioner Candidate Not Eligible to Run

A South Central District judge has concluded the Democratic-NPL nominee for North Dakota insurance commissioner hasn’t lived in the state long enough to hold the office. The decision by Judge Thomas Schneider about Travisia Martin now goes to the state … from News – Insurance Journal https://ift.tt/2FE7cR0

Sabre reveals new chairman

Andy Pomfret will succeed Patrick Snowball, who is stepping down on 1 September. from Insurer - insuranceage.co.uk https://ift.tt/3j19Wq5

Randall & Quilter to Acquire Inceptum

Randall & Quilter II Holdings Limited has agreed to acquire the entire issued share capital of Inceptum Insurance Co. Inceptum is closed to new business and the company’s principal activities are the run-off of general insurance business, settling claims and … from News – Insurance Journal https://ift.tt/3iWiZbD