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Showing posts from September, 2020

Carolina Construction Worker Fired, Punched for Complaining About Drunk Boss Wins Case

A federal appeals court has ruled that a North Carolina employee who was attacked and fired after he complained about his supervisor’s intoxication on the job is entitled to more than $1 million in damages and legal costs. Construction worker … from News – Insurance Journal https://ift.tt/3l3zAvi

G&G Independent Insurance Acquires Arkansas Insurance Advisors in Little Rock

G&G Independent Insurance (G&G) in Fayetteville, Ark., has acquired the Little Rock-based agency, Arkansas Insurance Advisors (AIA). The transaction became effective on Sept. 25, 2020. Founded in 2015, AIA is an independent insurance agency that focuses on ensuring clients have … from News – Insurance Journal https://ift.tt/30o2le3

Alera Group in Illinois Promotes Corrigan, Caracciolo and Cox

Deerfield, Ill.-based Alera Group has promoted several employees within the company’s executive leadership team: Brian Caracciolo will assume the role of chief financial officer; and Carolyn L. Cox will assume the role of general counsel; William Corrigan, the agency’s former … from News – Insurance Journal https://ift.tt/34g8fz4

Allstate to Cut 3,800 Jobs as Latest Step in Multi-Year Growth Plan

The Allstate Corp. said it will cut approximately 3,800 jobs in claims, sales, service and support functions as part of its continuing plan to grow its property/casualty market share. The layoffs will affect about eight percent of the insurer’s 45,780 … from News – Insurance Journal https://ift.tt/34eMfo9

FAA Chief Completes Boeing 737 Test Flight: Likes What He Saw But Process Not Done

Federal Aviation Administration (FAA) Chief Steve Dickson conducted a nearly two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a milestone for the jet to win approval to resume flying after two fatal crashes. Dickson, a … from News – Insurance Journal https://ift.tt/3cLtfBw

Cease and Desist Order Issued for Louisiana Agent for Alleged Premium Theft

The Louisiana Department of Insurance has issued a cease and desist order and summary suspension of producers license to a Lake Charles, La., agent for alleged misappropriation of premium funds. Valerie M. Muse reportedly confessed to her employer that she … from News – Insurance Journal https://ift.tt/2SgvOCd

Kennedy Named President and CEO of The Mahoney Group in Arizona

T. Scott Kennedy has been named as the president and chief executive officer of M&O Agencies Inc., which operates The Mahoney Group in Arizona. Kennedy has more than 30 years of insurance industry experience. His past positions include serving as … from News – Insurance Journal https://ift.tt/30mIdJf

Plymouth Rock Assurance Launches Motorcycle Insurance in N.J., Pennsylvania

Plymouth Rock Assurance launched motorcycle insurance for riders across New Jersey and Pennsylvania. The launch of the product comes than a year after the company acquired Rider Insurance Co., which has focused on the motorcycle community for 50 years. Plymouth … from News – Insurance Journal https://ift.tt/2Se8iG3

AXA XL Expands Construction Offering to ‘Highly Protected Projects’

AXA XL’s North America Construction insurance business has expanded its insurance programs and services for construction projects to include customized coverage for risks that qualify as a “Highly Protected Project” (HPP) because of their implementation of technologies designed to reduce … from News – Insurance Journal https://ift.tt/2EOrmYv

Berkshire Hathaway GUARD Expands Commercial Package Coverage into Illinois

Berkshire Hathaway GUARD Insurance Companies has added Illinois to the list of states where the insurer offers its Commercial Package Policy. The product includes commercial property featuring limits up to $120 million per location (higher limits considered), with an enhanced … from News – Insurance Journal https://ift.tt/3n5xA7n

Kansas Sees Another COVID-19 Spike, Counties Worry About Aid

Kansas reported another seven-day record for new coronavirus cases, with 16% of the tests for the virus during that period coming back positive on Monday. The continued spike in confirmed and probable cases comes as officials in some Kansas counties … from News – Insurance Journal https://ift.tt/34g3BBn

Gas Leak Leads to Explosion in Iowa, Several Homes Damaged

Fire officials are blaming a gas leak for an explosion that destroyed one Dubuque, Iowa home and damaged several others. KCRG reports that Chief Rick Steines with the Dubuque Fire Department said a machine struck a gas main Monday while … from News – Insurance Journal https://ift.tt/3477wQK

New California Law Comes From Crash That Killed Kobe Bryant

Gov. Gavin Newsom has approved legislation prompted by the helicopter crash that killed Kobe Bryant and eight other people that makes it a crime for first responders to take unauthorized photos of deceased people at the scene of an accident … from News – Insurance Journal https://ift.tt/3ihsPEi

Allianz Adds 3 From Argo to Cyber Insurance Team

Allianz Global Corporate & Specialty (AGCS) has made several hires to strengthen its cyber insurance underwriting team: Tresa Stephens as regional product leader; Josh Navarro, executive underwriter; and Ed Lee, underwriting specialist. Based in New York, Stephens will lead the … from News – Insurance Journal https://ift.tt/3iiCaeS

Personal Finance Firm Credit Karma to Offer Checking Account in U.S.

Personal-finance company Credit Karma said on Tuesday it would launch a checking account to U.S. members this year, making it the latest fintech to join the crowded digital banking market. Credit Karma Money Checking will initially be available only to … from News – Insurance Journal https://ift.tt/2HJNjsN

Rourke Appointed as SVP, General Manager of The Church Insurance Companies

The Church Pension Group (CPG), a financial services organization that serves The Episcopal Church, has appointed Christopher R. Rourke as senior vice president and general manager of The Church Insurance Companies (CIC). In this role, he will be responsible for … from News – Insurance Journal https://ift.tt/2GaVxtm

New Hampshire Music Fan Seriously Hurt by Stage Diver Wins $2M Settlement

A New Hampshire man who suffered serious spinal injuries when a stage diver landed on his head during a concert in New Jersey has reached a $2 million settlement with the show’s organizer. Jason Kooken, 46, of Exeter, was injured … from News – Insurance Journal https://ift.tt/3cM5toY

Report: Nearly 2M Homes at Elevated Risk of Wildfire

Nearly 2 million homes, mostly in the Western U.S., with a rebuilding value of more than $638 billion are at an elevated risk of wildfire damage, a report out today shows. An annual wildfire report from data provider CoreLogic comes … from News – Insurance Journal https://ift.tt/3iaxhok

The State of Surplus Lines Insurance: Busy Solving Risk Puzzles in a Complex World

Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly shedding undesirable accounts. Busy adapting to a market that … from News – Insurance Journal https://ift.tt/3n2SVhS

LL Global Selects Poklar to Lead Its Insurance Research Unit

LL Global, the Windsor, Conn.-based parent company for LIMRA, LOMA and Secure Retirement Institute, has tapped Mark Poklar to lead its insurance research unit. He will report to Alison Salka, senior vice president and head of LIMRA Research. During the … from News – Insurance Journal https://ift.tt/33ehwZ5

FAA Chief to Conduct Own Test Flight of Boeing 737 MAX

Federal Aviation Administration (FAA) Chief Steve Dickson is due to conduct a two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a key milestone for the jet to win approval to resume flying after two fatal … from News – Insurance Journal https://ift.tt/3n4f2EJ

Amazon Workers’ Injury Higher Than Industry Average, Report Says

Amazon.com Inc. warehouse workers in the U.S. are getting hurt at a higher rate than the industry average, according to an investigative report. The rate of injuries contradicts more rosy assertions the company has made to lawmakers and the public, … from News – Insurance Journal https://ift.tt/2S9uHo3

Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln

Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies … from News – Insurance Journal https://ift.tt/33gnfhm

Private Equity Firm Hg Invests in Hyperion in Transaction Valued at US$5 Billion

Hg, the European private equity investor focused on software and service businesses, announced it will make a significant long-term equity investment in Hyperion Insurance Group Ltd., the insurance intermediary. The transaction values the business at an enterprise value of around … from News – Insurance Journal https://ift.tt/3n1k193

Zego partners with Bravo Group to offer fleet product to networks members

Compass and Broker Network members will now have access to the insurtech’s fleet products. from Insurer - insuranceage.co.uk https://ift.tt/30lz8Az

Paul Evans joins Allianz as chairman

The former UK and group CEO for Axa will oversee Allianz Insurance and LV General Insurance. from Insurer - insuranceage.co.uk https://ift.tt/3cJ8UNd

Many Financial Firms and Governments See Cryptocurrencies as Risky: Survey

Financial firms and governments overwhelmingly see cryptocurrencies as risky, a major survey found on Tuesday, with the potential for bitcoin and other digital tokens for use in money laundering and sanctions busting among the chief worries. Around 60% of respondents … from News – Insurance Journal https://ift.tt/30BtIlh

Florida Attorney Behind Thousands of Insurer Lawsuits Violated 14 Bar Rules: Judge

Embattled Florida attorney Scot Strems, who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last several years, has been found by a court-appointed referee to have violated more … from News – Insurance Journal https://ift.tt/2GqQyV9

Equity Volatility Is Most Significant Risk for Investors: AIA Group CIO

Heightened equity market volatility extending beyond the U.S. presidential election is the most significant risk for investors, AIA Group’s chief investment officer said on Tuesday. Mark Konyn, group CIO at the insurance and securities firm in Hong Kong, told the … from News – Insurance Journal https://ift.tt/34852li

HDI Global Specialty Taps Inter Hannover’s Barenthein as MD of Scandinavian Branch

HDI Global Specialty SE has appointed Thomas Barenthein as the managing director of its Scandinavian Branch. Barenthein joins the specialty lines insurer from Inter Hannover where he was managing director, Sweden. The Scandinavian branch of HDI Global Specialty in Stockholm … from News – Insurance Journal https://ift.tt/33hvppH

COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks

Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks, which could also include a global … from News – Insurance Journal https://ift.tt/2HM5T3D

Texas Records $717.76M in Surplus Lines Premium in August

The Surplus Lines Stamping Office of Texas (SLTX) recorded $717.76M in Texas surplus lines premium during the month of August. SLTX said the premium recorded year to date through August represents an 11.1% increase over the same period in 2019. … from News – Insurance Journal https://ift.tt/349GMix

Agents Warned of ‘Creative’ Attorneys, Virus Lawsuits

Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants start looking around for other sources of reimbursement … from News – Insurance Journal https://ift.tt/2HF7GqV

Trump Plan Would Restrict Retirement Plans from Sustainable Investments: Viewpoint

Interest in sustainable investing is soaring, as more people become convinced that making a positive impact can be profitable as well as good for the planet and society. Unfortunately, the Labor Department doesn’t think these investments belong in your 401(k). … from News – Insurance Journal https://ift.tt/3kWxld1

Connecticut Workplace Shooter Says Gun Fired By Accident

A man charged with wounding his boss and another employee in a shooting at a Connecticut trucking company told police his handgun fired by accident and he only intended to scare his manager, according to an arrest warrant released Thursday. … from News – Insurance Journal https://ift.tt/3iaMCFj

The Big Question Is Can U.S. Restrain Worsening Wildfires?

This is one of a series of interviews by Bloomberg Opinion columnists on how to solve pressing policy challenges. This conversation has been edited and condensed. Romesh Ratnesar: The American West is suffering through a devastating fire season. Wild fires … from News – Insurance Journal https://ift.tt/2S8KkvV

Pennsylvania’s Strickler Insurance Agency Joins Agency Network Exchange

Agency Network Exchange LLC (ANE) has added Strickler Insurance Agency Inc. in Lebanon, Penn., to its network to sixteen agencies in the state. Strickler Insurance Agency has been insuring individuals and businesses throughout the Mid-Atlantic region since 1860. Established in … from News – Insurance Journal https://ift.tt/346ahBO

Marsh Appoints Franklin as Chief Digital, Data and Analytics Officer

Insurance broker and risk adviser Marsh has appointed Tamara Simpkins Franklin as chief digital, data and analytics officer, effective October 1. Based in New York, she reports to Marsh President and CEO John Doyle. In this role, Franklin will be … from News – Insurance Journal https://ift.tt/30ftRdW

Pandemic Brings Shift in Younger Workers’ Views of Employee Benefits

The coronavirus pandemic has led to a greater emphasis on employee benefits that help people plan for unexpected life events and provide financial protection, according to a study by The Hartford. The Hartford’s Future of Benefits Study found that 40% … from News – Insurance Journal https://ift.tt/33bbetd

Meatpacking Workers Being Denied Workers’ Compensation Benefits for COVID-19: Reuters

Saul Sanchez died in April, one of six workers with fatal COVID-19 infections at meatpacker JBS USA’s slaughterhouse in Greeley, Colorado, the site of one of the earliest and deadliest coronavirus outbreaks at a U.S. meatpacking plant. Before getting sick, … from News – Insurance Journal https://ift.tt/2SmaQSN

FCA and insurers apply to leapfrog appeals to Supreme Court in BI test case

Regulator says discussions between the parties involved in the case continue ahead of the next hearing on 2 October, as the watchdog along with seven insurers file "precautionary" applications to skip Court of Appeal. from Insurer - insuranceage.co.uk https://ift.tt/3cInR21

Uber Granted 18-Month License Extension in London After Legal Review

Uber Technologies Inc. won the ability to continue operating in its biggest European market after a London judge granted the ride-hailing service an 18-month license extension. Uber did enough to satisfy the court that it was now “fit and proper” … from News – Insurance Journal https://ift.tt/2EIymWN

Howden Acquires London-Based Broker St Giles Legal & Professional Risks

Howden, the independent employee-owned insurance broker, announced it has reached an agreement to acquire St Giles Legal & Professional Risks, a London-based professional indemnity insurance broker specializing in the UK solicitor sector, a market in which Howden is already a … from News – Insurance Journal https://ift.tt/3mZAISk

Executives Reassess Work-Life Balance After Experiencing Coronavirus Blues: Survey

Nearly eight out of 10 corporate executives have experienced poor mental health during the coronavirus crisis, prompting a number of them to re-evaluate and improve work-life balance, a survey showed on Monday. Many top company officials in France and Egypt … from News – Insurance Journal https://ift.tt/36fnyKZ

Guy Carpenter Taps Miller from Aon to Lead Property Catastrophe UK, Global Specialties

Guy Carpenter & Co., the reinsurance brokerage business of Marsh & McLennan Cos., announced the appointment of Paul Miller to lead Guy Carpenter’s Property Catastrophe value proposition for UK, Global Specialties and key global clients, effective September 2021. Miller will … from News – Insurance Journal https://ift.tt/3498qvX

Insurers, UK Regulator Seek Clarity About Ruling on Business Interruption Disputes

RSA Insurance Group Plc and other insurers will try to take a dispute over COVID-19 payouts directly to the UK Supreme Court if they can’t reach a deal with regulators. Several insurance firms and UK regulators filed applications to “leapfrog” … from News – Insurance Journal https://ift.tt/347k5vx

MGA New Paradigm Aims to Bridge the Natural Catastrophe Protection Gap

Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully addressing the needs of commercial property insurance … from News – Insurance Journal https://ift.tt/2HF5QXc

Envelop Risk Paves the Way as Insurtech Reinsurance MGA

Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber reinsurance from an underwriting perspective,” said Jonathan … from News – Insurance Journal https://ift.tt/33c7Pur

Reinsurance Experience in Africa, Asia Sets MGA Tempo Underwriting Apart

Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering, you have to … from News – Insurance Journal https://ift.tt/2S9knw8

Finding Niches: Reinsurance MGAs Carving Out Special Market Slices

Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not commodity players. They aim to bring … from News – Insurance Journal https://ift.tt/33bG4lB

Close Call with Laura Renewed Debate over Houston Storm Surge Barrier

Houston, a Gulf Coast city that barely rises above sea level, has long worried about a worst-case weather scenario — a direct hit from a powerful storm that sends a wall of water barreling into the region’s petrochemical facilities, possibly … from News – Insurance Journal https://ift.tt/33bwLCh

Florida Supreme Court Caps High School Shooting Liability at $300K

The Florida Supreme Court ruled Thursday that a school district can’t be forced to pay more than $300,000 total to the victims or their families in the Parkland high school massacre that left 17 people dead and another 17 wounded. … from News – Insurance Journal https://ift.tt/30eIo9q

CAC Specialty Adds Martin, Flynn, Kasperkowiak to M&A Solutions Group

CAC Specialty has made several new hires to its M&A Solutions Group. Cameron Martin and Katie Flynn have been named senior vice presidents to the M&A Solutions Group, and Erica Kasperkowiak was named senior vice president of the newly created … from News – Insurance Journal https://ift.tt/3jdzv7I

NFP Acquires Hutch Hubby & Associates in Austin

National insurance broker NFP has acquired the Austin, Texas-based employee benefits firm, Hutch Hubby & Associates. The acquisition is NFP’s third in central Texas in 2020. The firm’s principal, L. Hutch Hubby, brings NFP over 40 years of experience serving … from News – Insurance Journal https://ift.tt/2GbxHhh

White House Vows 150 Million Rapid COVID Tests for Schools, Seniors

President Donald Trump, under fire over his handling of the coronavirus epidemic, announced on Monday the federal government would ship 150 million rapid tests to U.S. states and warned an increase in positive cases is likely in the days ahead. … from News – Insurance Journal https://ift.tt/3l1WDqp

U.S. Pension Funds Sue Allianz After $4 Billion in Coronavirus Losses

Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown. Market panic around the … from News – Insurance Journal https://ift.tt/2FYUay5

Major U.S. Tech Firms Look to Be Ignoring Europe’s Data Privacy Rules

Technology firms’ compliance with European restrictions on transatlantic data transfers is shockingly poor, Austrian privacy campaigner Max Schrems said on Monday, publishing a survey of companies including Facebook and Netflix. The Court of Justice of the European Union (CJEU) ruled … from News – Insurance Journal https://ift.tt/3cH9JWT

Even Failed Claims Against Nurses Cost Insurers $20K, Liability Study Shows

Liability claims that involve nurses cost an average of $210,513 if a large indemnity payment is made, but even claims that are dropped, defeated or dismissed end up costing more than $20,000, according to a report released by CNA and … from News – Insurance Journal https://ift.tt/36jGvMR

Wildfire Forces Home, Hospital Evacuations in California’s Napa Valley Wine Area

A wind-driven wildfire erupted on Sunday in the heart of northern California’s Napa Valley wine country to spread across nearly 2,000 acres (809 hectares), forcing the evacuation of a hospital and hundreds of homes, authorities said. Fire crews were out … from News – Insurance Journal https://ift.tt/3iaGk8D

Munich Re Subsidiary NewRe Names Braune as CEO, Succeeding Strasser

New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020, succeeding Dr. Renate … from News – Insurance Journal https://ift.tt/33YFrec

Trump’s Executive Order on Preexisting Conditions Lacks Teeth, Experts Say

Protecting people with preexisting medical conditions is an issue that has followed President Donald Trump his entire first term. Now, Trump has signed an executive order that he says locks in coverage regardless of anyone’s health history. “Any health care reform legislation that comes to my desk from Congress must protect the preexisting conditions or I won’t sign it,” Trump said at a Sept. 24  signing event. With the executive order, Trump said, “This is affirmed, signed and done, so we can put that to rest.” Health law and health policy experts say Trump has put nothing to rest. Here’s why. The  core text of the order  is brief. “It has been and will continue to be the policy of the United States to give Americans seeking healthcare more choice, lower costs, and better care and to ensure that Americans with pre-existing conditions can obtain the insurance of their choice at affordable rates.” Joe Antos with the American Enterprise Institute, a market-oriented th...

Promises Kept? On Health Care, Trump’s Claims of ‘Monumental Steps’ Don’t Add Up

When it comes to health care, President Donald Trump has promised far more than he has delivered. But that doesn’t mean his administration has had no impact on health issues — including the operation of the Affordable Care Act, prescription drug prices and women’s access to reproductive health services. In a last-ditch effort to raise his approval rating on an issue on which he trails Democrat Joe Biden in most polls, Trump on Thursday unveiled his “ America First Healthcare Plan ,” which includes a number of promises with no details and pumps some minor achievements into what the administration calls “monumental steps to improve the efficiency and quality of healthcare in the United States.” As the election nears, here is a brief breakdown of what Trump has done — and has not done — on some key health issues. Affordable Care Act Trump has not managed to repeal and replace the Affordable Care Act, despite his claims that the law is dead. But his administration, and Republicans in ...

Beazley Expands Life Sciences Insurance Offering in UK

Specialist insurer Beazley has enhanced its life sciences insurance offering in the UK with the launch of a new policy designed to protect the sector’s small and start-up research & development-focused organizations. This follows the UK launch of Beazley’s internationally … from News – Insurance Journal https://ift.tt/2S2mO3J

Florida Peninsula Promotes Gonzalez to Director of Agency Support

The Florida Peninsula Insurance family of companies, which includes Edison Insurance Co., has promoted Mariella Gonzalez to director of Agency Support. In addition to her current role as director of Community Involvement, Gonzalez will now oversee all agent support functions … from News – Insurance Journal https://ift.tt/3n0tDRp

Mississippi Receives $23M in Federal Funds for Flood Relief

Mississippi has received nearly $23 million in emergency relief funds from the U.S. Department of Transportation to repair federal roadways that were damaged by severe flooding. U.S. Sen. Cindy Hyde-Smith announced the five Federal Highway Administration awards on Thursday, according … from News – Insurance Journal https://ift.tt/2GcqZaz

Insurer Ping An Taps Rising Demand for Chinese Assets with Offshore Management Arm

Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants intensifies. The overseas asset management arm aims to increase … from News – Insurance Journal https://ift.tt/3jfQYMY

Opinion: Missouri Appeals Court Ruling Shrinks Insurers’ Right to Intervene

The Western District of the Missouri Court of Appeals has again construed the effect of the 2017 amendments to Mo. Rev. Stat. § 537.065, which gave insurers a limited right to intervene and protect their interest when their insured enters … from News – Insurance Journal https://ift.tt/2GcWDoc

Texas Agency, A-MAX Auto, Expands in Houston Area

Dallas-based A-MAX Auto Insurance has opened two new locations opening in the Houston, Texas, area. With the two new locations — one in Houston and one in nearby Tomball, Texas, the company now has 193 offices statewide. A-MAX Auto Insurance … from News – Insurance Journal https://ift.tt/3jarJLJ

UK Insurer LV= Says Talks Continue with Number of Parties About Possible Merger

UK insurance company Liverpool Victoria said it remains in talks with a “number of parties” about a possible transaction after Sky News reported it was negotiating a merger with rival Royal London. The company known as LV= “confirms that as … from News – Insurance Journal https://ift.tt/3kMzI1Y

Reinsurance Demand Rises, Along with Flight to Quality, Say Industry Experts

Not only has reinsurance buying increased, but there also has been a flight to quality reinsurers by ceding insurance companies, according to several reinsurers and brokers in recent webinars held in lieu of what would have been the reinsurance Rendez-Vous … from News – Insurance Journal https://ift.tt/3kTZbqg

Louisiana Utility: Hurricane Laura Repair Costs Now at $1.4B

A Louisiana utility says the cost to restore electricity and repair power lines damaged in the state during Hurricane Laura is now up to $1.4 billion. Entergy Corp., the New Orleans-based utility serving many of the areas affected by the … from News – Insurance Journal https://ift.tt/3mWI4pA

Alphabet Settles Suit Over Executives’ Exit Pay, Coverups Linked to Sexual Misconduct

Alphabet Inc. on Friday settled a shareholder lawsuit that accused the Google parent of covering up lavish exit packages to executives found responsible for sexual misconduct, saying it would overhaul workplace policies and increase oversight of its diversity efforts. The … from News – Insurance Journal https://ift.tt/2EEiWTj

CopperPoint in Arizona Reelects Directors Patrick and Tully to Board

Judith Patrick and Mike Tully have been reelected to the board of directors for CopperPoint Mutual Insurance Holding Co. The results of the election were announced at the annual members’ meeting in mid September. Patrick and Tully will serve terms … from News – Insurance Journal https://ift.tt/3448ld5

Crest in Colorado Promotes VanGotten to Assistant Commercial Lines Manager

Crest Insurance LLC of Denver, Colo., has promoted Jason VanGotten to assistant commercial lines manager. His prior experience includes ownership of a home inspection company, and a producer for Colorado Restaurant Insurance. He joined Crest Insurance in 2018 as a … from News – Insurance Journal https://ift.tt/3kR1r1B

EU Strikes Low-Cost Deal With AstraZeneca to Pay COVID-19 Vaccine Claims

European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its potential COVID-19 vaccine, under different terms to a deal struck with Sanofi, an EU official told Reuters. The deals reflect different strategies by two of … from News – Insurance Journal https://ift.tt/3kSne95

UN Envoy Carney Backs Investors’ Call for Increased Climate Risk Disclosure

United Nations climate envoy Mark Carney on Thursday threw his weight behind a growing push by investors for companies to more accurately reflect climate-related risks in their financial accounts. Such risks can range from physical dangers such as water levels … from News – Insurance Journal https://ift.tt/30eLla3

D&O Insurers Under Pressure But Big Enough to Handle Pandemic Claims, Says Fitch

As claims related to the economic fallout from the pandemic emerge in the U.S. directors & officers (D&O) liability insurance segment, insurers can expect the claims to take several years to pay out and underwriting losses to continue over the … from News – Insurance Journal https://ift.tt/3n03rX2

Four Senior-Level Black Managers Including Diversity Leaders Exit AIG

American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer’s ranks. Global inclusion head Vievette Henry and Walter Hurdle, who had previously run diversity efforts … from News – Insurance Journal https://ift.tt/339dAJ7

U.S. to Research Transmission of COVID-19 in Beef Supply Chain

The U.S. Department of Agriculture is funding a $1 million research project to identify how the virus that causes COVID-19 might be transmitted in the nation’s beef supply chain, from cattle on the farm to the packages of meat inside … from News – Insurance Journal https://ift.tt/3j4xfQ5

Louisiana Agent’s License Suspended for Misappropriation, False Insurance Certificates

A Lake Charles, Louisiana, insurance producer has been issued a cease and desist order and had her license suspended amid an investigation into misappropriation of insurance premiums and the issuing of false insurance certificates to customers. The Louisiana Department of … from News – Insurance Journal https://ift.tt/3j3k8if

California Governor Planning to Ban Sale of New Gas Vehicles in 15 Years

California will ban the sale of new gasoline-powered passenger cars and trucks in 15 years, Gov. Gavin Newsom announced Wednesday, establishing a timeline in the nation’s most populous state that could force U.S. automakers to shift their zero-emission efforts into … from News – Insurance Journal https://ift.tt/3j3mT2X

Western Wildfires Taint Vineyards With Taste Of Smoke

Smoke from the West Coast wildfires has tainted grapes in some of the nation’s most celebrated wine regions with an ashy flavor that could spell disaster for the 2020 vintage. Wineries in California, Oregon and Washington have survived severe wildfires … from News – Insurance Journal https://ift.tt/2G6VdLW

Lockton Names Huston Senior Vice President in Washington

Lockton Cos. has named Danielle Huston a senior vice president. Huston will support the growth of Lockton’s Washington office and oversee the introduction of benefits consulting services to the local market. She was previously with Propel Insurance. Lockton is an … from News – Insurance Journal https://ift.tt/30as1L4

New York Again Ranks as Top Global Financial Hub But London Gains in Volatile Index

New York again heads the rankings of the world’s leading global financial centres. The Global Financial Centres Index 28, launched by London think tank Z/Yen Group in partnership with the China Development Institute (CDI), shows London improved its performance in … from News – Insurance Journal https://ift.tt/331QdBh

New York Drywall Installer Arrested for Failing to Provide Workers’ Comp Insurance

New York State Inspector General Letizia Tagliafierro has announced the arrest of a capital region area drywall installer who allegedly failed to provide legally required workers’ compensation insurance to his employees. Dennis R. Hammonds, 40, owner and operator of Hammonds … from News – Insurance Journal https://ift.tt/2GdWjW4

Boston Insurance Brokerage Appoints Driscoll as CEO

Boston Insurance Brokerage LLC (BIB) has appointed Keith Driscoll as CEO. Driscoll has been a member of the BIB team since 2013, beginning as vice president of the Workers’ Compensation Division before being promoted to executive vice president and chief … from News – Insurance Journal https://ift.tt/33VY9Dy

Pacific Resources Benefits Advisors Names Judd as CEO, Vaughan as President

Pacific Resources Benefits Advisors LLC, a Boston, Mass.-based subsidiary of Brown & Brown Insurance and a non-medical employee benefits consulting firm, has announced Chris Judd as the company’s new CEO and Ken Vaughan as the company’s new president, along with … from News – Insurance Journal https://ift.tt/2RYsfk1

Travelers Offers Artificial Intelligence for Companies to Assess Worker Safety

The Travelers Companies said it has started using artificial intelligence to offer business customers virtual and onsite ergonomic assessments. Travelers claims to be the first insurance carrier to provide the service. According to the insurer, the new offering combines AI-based … from News – Insurance Journal https://ift.tt/3i1T0yA

New Crash Test Dummy Is a 3-Year Old

The National Highway Traffic Safety Administration has a new crash test dummy. Known as the Q3s, the new crash test dummy represents a 3-year-old child and is the first child side impact dummy in federal regulations. Q3 was specifically designed … from News – Insurance Journal https://ift.tt/307ScCp

Dive-In: Focus on mental health amid Covid-19

Head Lines: Experts warned that the coronavirus pandemic has increased mental health problems for many. from Insurer - insuranceage.co.uk https://ift.tt/2RWDwS7

Trump Approves Final Plan to Import Drugs From Canada ‘for a Fraction of the Price’

President Donald Trump, outlining his “America First Health Plan” Thursday, announced that his administration will allow the importation of prescription drugs from Canada. The final plan clears the way for Florida and other states to implement a program bringing medications across the border despite the strong objections of drugmakers and the Canadian government. Florida, the biggest swing state in the presidential election, is one of six states to pass laws seeking federal approval to import drugs. Trump’s announcement came the same day counties in Florida began sending out vote-by-mail ballots. Florida Gov. Ron DeSantis, a close ally of the president, is a strong advocate of importing drugs. His administration has already advertised for a contractor to run the state program and is expected to announce Tuesday which companies have bid for the three-year, $30 million state contract. Congress has allowed drug importation since 2000 but only if the secretary of the Department of Heal...

Heartbreaking Bills, Lawsuit and Bankruptcy — Even With Insurance

Matthew Fentress was just 25 when he passed out while stuffing cannolis as a cook for a senior living community six years ago. Doctors diagnosed him with viral cardiomyopathy , heart disease that developed after a bout of the flu. Three years later, the Kentucky man’s condition had worsened, and doctors placed him in a medically induced coma and inserted a pacemaker and defibrillator. Despite having insurance, he couldn’t pay what he owed the hospital. So Baptist Health Louisville sued him and he wound up declaring bankruptcy in his 20s. “The curse of being sick in America is a lifetime of debt, which means you live a less-than-opportune life,” said Fentress, who still works for the senior facility, providing an essential service throughout the coronavirus pandemic. “The biggest crime you can commit in America is being sick.” Financial fears reignited this year when his cardiologist suggested he undergo an ablation procedure to restore a normal heart rhythm. He said hospital officia...

Swiss Re Announces Plans to Streamline Structure of Group

Swiss Re announced further streamlining of the legal entity structure of the group. Following the announcement on June 19, 2020 that the Life Capital Business Unit will be disbanded, Swiss Re also intends to reorganize the legal entity structure of … from News – Insurance Journal https://ift.tt/331xpSQ

Formation of More ‘Class of 2020’ Reinsurers Unlikely

The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring … from News – Insurance Journal https://ift.tt/364OAEQ

What Ever Happened to Hedge Fund Reinsurers?

The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of … from News – Insurance Journal https://ift.tt/3331f9A

Alabama City Officials Drop Chemical Contamination Lawsuit

Officials in the northwest Alabama city of Guin have dropped a lawsuit against chemical giant 3M that alleged chemicals from its manufacturing plant had entered a creek that supplies drinking water to the community. The Guin Water works & Sewer … from News – Insurance Journal https://ift.tt/335VAj7

A.J. Gallagher Alleges Alliant’s Poaching ‘Playbook’ Has Cost It Employees, Clients

California-based insurance broker Alliant is again being sued over an alleged poaching scam, this time by rival Arthur J. Gallagher & Co. Gallagher claims Alliant, with assistance and capital from its private equity partner Stone Point Capital, has engaged in … from News – Insurance Journal https://ift.tt/3jegemo

Lloyd’s CEO Neal Sees Appeal of COVID Business Insurance Ruling Coming

Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be appealed. London judges ruled that some of the world’s … from News – Insurance Journal https://ift.tt/36bPhwl

Court Nixes Opioid Proposal That Would Have Included Cities That Have Not Sued

A federal appeals court on Thursday overturned a judge’s approval of a novel plan by lawyers representing cities and counties suing drug companies over the U.S. opioid crisis that would bring every community nationally into their settlement talks. The 6th … from News – Insurance Journal https://ift.tt/2G9wOFq

Brazil’s State-Owned Caixa Again Postpones IPO of Its Insurance Unit

Brazilian state-owned lender Caixa Economica Federal said on Thursday that it had indefinitely postponed plans for an initial public offering of its insurance unit Caixa Seguridade, the second time this year the high-profile deal has been put off. Caixa Economica … from News – Insurance Journal https://ift.tt/3i0RDAc

Arch Forms Underwriting Partnership with ProHost for Restaurant Industry Program

Arch Insurance has formed an underwriting partnership with ProHost USA, a Minneapolis-based insurance program administrator providing specialty packages to the restaurant industry. ProHost USA is part of Distinguished Programs, a national program administrator. Retail agents can now learn about and … from News – Insurance Journal https://ift.tt/2FZd7jV

Chinese Companies Lag Far Behind in Climate Risk Disclosure

A report on the current state of climate risk disclosures among the largest companies in China and the United States found that Chinese companies lag significantly behind their global peers in the S&P 500 in climate risk disclosures and need … from News – Insurance Journal https://ift.tt/3cxNmDs

Hiscox urged to start paying BI claims after test case judgment

The night life industry and broker NDML call on the provider to "accept that the time to pay has arrived" in open letter to Hiscox MD. from Insurer - insuranceage.co.uk https://ift.tt/3kJ0SGV

Oregon Businesses Threatening to Sue Over Virus Restrictions

Several Oregon businesses have threatened a class action lawsuit against the state over COVID-19 restrictions implemented by Gov. Kate Brown to slow the pandemic. A lawyer representing the businesses argues that Oregon officials should draft a plan to compensate small … from News – Insurance Journal https://ift.tt/32VvZsW

Peak Re Appoints Pioneer’s Souter as Director of Markets for P/C Business

Hong Kong-based Peak Re announced the appointment of Andrew Souter as director of markets responsible for developing the company’s property/casualty reinsurance business. Souter brings with him 18 years of experience in the finance industry. He joins Peak Re from Pioneer … from News – Insurance Journal https://ift.tt/362IZyQ

Ant Group Eyes Raising $17.5 Billion via Hong Kong IPO Without Cornerstone Investors

China’s Ant Group plans to raise about half of its $35 billion dual listing via the Hong Kong leg, without setting up a cornerstone tranche and betting on strong demand from institutional investors even without lock-up commitments, sources said. Backed … from News – Insurance Journal https://ift.tt/3cq5gb9

Most Important Climate Pledges Aren’t the Splashy Ones

It’s Climate Week in New York, which brings with it a raft of announcements from companies outlining their new decarbonization targets and clean investment strategies. Some of the declarations are hefty, like Walmart Inc.’s plan to reach zero emissions across … from News – Insurance Journal https://ift.tt/3j11dEH

Mutual Insurer Group NAMIC Names Merchants Mutual’s Zak as Chair

The National Association of Mutual Insurance Companies welcomed its new chairman – Robert Zak, president and chief executive officer of Merchants Mutual Insurance Co. – this week during its all-virtual 125th annual convention. Zak, a 35-year mutual insurance industry veteran, … from News – Insurance Journal https://ift.tt/3kOdNY7

More Firms Turning to Insurance Captives in Tightening Market: Marsh

More organizations are using captives for insurance protection and financial flexibility in response to today’s risk and insurance landscape. In its 2020 captive report, insurance broker Marsh says that that tightening global insurance market conditions throughout 2019 led to higher … from News – Insurance Journal https://ift.tt/36aKElQ

Next Insurance Attracts $250M in New Financing; Its $631M to Date Beats Lemonade

Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings. CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in … from News – Insurance Journal https://ift.tt/364mj16

As Wildfires Spread, Public Safety Tech Startups Lack Venture Capitalists’ Backing

Silicon Valley’s innovation engine has been slow to produce useful new tools to help firefighters like Dave Winnacker extinguish the deadly blazes that each year fill California’s skies with smoke. Winnacker, a fire district chief who led a team against … from News – Insurance Journal https://ift.tt/3iZybVH

SEC Toughens Rules on Shareholder Proposals

The U.S. Securities and Exchange Commission (SEC) voted 3-2 on Wednesday to make it tougher for shareholders to push companies on issues such as climate change, social justice and diversity, with Democratic commissioners dissenting against the move. The rule, first … from News – Insurance Journal https://ift.tt/3hWpvy9

Two Wounded in Connecticut Workplace Shooting, Suspect in Custody

A shooter opened fire and wounded two people outside a Connecticut business Tuesday and was taken into custody at gunpoint on a highway in Massachusetts, police said. Both victims were treated at a hospital and discharged. Authorities identified the alleged … from News – Insurance Journal https://ift.tt/2HmaDMU

Reliance Global Group Acquires New York’s UIS Agency

Reliance Global Group Inc. has acquired the assets of UIS Agency LLC, a Thiells, N.Y.-based insurance agency serving the commercial transportation industry. Reliance Global Group CEO Ezra Beyman said in a company press release that UIS will compliment Reliance’s existing … from News – Insurance Journal https://ift.tt/3mPPB9G

World Insurance Associates Acquires New Jersey’s Gateway Agency National

World Insurance Associates LLC (WIA) acquired Gateway Agency National of Highlands, N.J., on September 1, 2020. Terms of the transaction were not disclosed. Founded in 1981, Gateway specializes in home, automobile, boating and life insurance needs for clients across New … from News – Insurance Journal https://ift.tt/33SCc8l

TowerBrook and Warburg Pincus team up to progress AA takeover talks

Centerbridge and Platinum Equity have pulled out of discussions "by mutual agreement" as AA continues to explore options including an equity raise. from Insurer - insuranceage.co.uk https://ift.tt/2G6Ga4M

Berkshire Hathaway Guard Professional Liability Products Expanded Into New States

Berkshire Hathaway GUARD Insurance Companies has furthered expanded the company’s professional liability products, which include coverage for lawyers, architects and engineers, accountants, as well as nearly 100 other classes of business. Most recently, the company has added professional liability coverage … from News – Insurance Journal https://ift.tt/2RTadzH

Beecher Carlson Taps James as Director of Diversity & Inclusion

Beecher Carlson Insurance Services, LLC, a specialized large account insurance broker, has promoted Raven James to director of Diversity & Inclusion. In this newly created role, James will lead the Diversity & Inclusion (D&I) council in setting D&I strategies for … from News – Insurance Journal https://ift.tt/2RVTXxL

What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights

Lockton Re’s Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are exactly the same. For the two men personally, … from News – Insurance Journal https://ift.tt/3iXLAOl

Businesses Face Fewer Cyber Events, But the Attacks Are More Costly

The stakes are higher than ever for businesses when it comes to cyber risk, especially with the added complexity of COVID-19 thrown into the mix. Yet, even before the global pandemic struck, companies had been taking more action than ever … from News – Insurance Journal https://ift.tt/3i0nQYt

Texas Staffing Firm Sued for Disability Discrimination

Federal officials have sued a Houston-based staffing firm over allegations of workplace disability discrimination. Swift Technical Services LLC, doing business as Airswift, a Houston-based staffing firm focused on the oil and gas industry, violated federal law when it refused to … from News – Insurance Journal https://ift.tt/32UUYMS

The Liberty Company Insurance Brokers Adds Borchardt in California

The Liberty Company Insurance Brokers has named Sean Borchardt a partner in the Woodland Hills, Calif., office. Borchardt has more than 15 years of experience. He previously has held positions at Gallagher, Relations Insurance and Tolman & Wiker. The Liberty … from News – Insurance Journal https://ift.tt/3iZipuc

Congress Parks Self-Driving Car Regulation Until 2021

The U.S. Congress will try again in 2021 to try to approve long-stalled reforms to speed the adoption of self-driving cars, a key Democratic lawmaker said Wednesday. U.S. lawmakers have been divided for years over how to reform regulations governing … from News – Insurance Journal https://ift.tt/2RQu2HS

Insurers May Cut Allocations to Poorly Performing Hedge Fund Investment Sector

Having complained for years about hedge funds’ high fees and lackluster performance, insurance firms may be preparing to cut allocations to the sector after its poor performance during recent market upheaval left many of them nursing losses. That would be … from News – Insurance Journal https://ift.tt/3629q7H

Crest Insurance in Arizona Names Hankal Commercial Lines Manager

Crest Insurance Group LLC of Scottsdale, Ariz. has promoted Lisa Hankal to commercial lines manager. Hankal will be overseeing employees within the commercial lines department from all seven branches including Tucson, Scottsdale, Sierra Vista, Flagstaff, San Diego, Denver and Ft. … from News – Insurance Journal https://ift.tt/3kGQfoc

For Carnival Cruse Lines, 1920 ‘Death on the High Seas Act’ Curbs Coronavirus Damages

Carnival Corp. is poised to dramatically curb monetary damages for passengers killed by the coronavirus under the latest court decision to side with the company. If a ruling Monday by a Los Angeles federal judge is followed by others, it … from News – Insurance Journal https://ift.tt/3csHxqS

Juul’s Defense of Marketing E-Cigarettes to Youth Targets Use of Organized Crime Law

Juul Labs Inc. has the Mafia to thank for the most potent legal claims accusing the e-cigarette maker of igniting an epidemic of youth nicotine addiction. The company will try to persuade a federal judge Monday that consumers and school … from News – Insurance Journal https://ift.tt/32VRRo8

Justice Department Set to Unveil Plan to Limit Internet Firms’ Liability Protections

The U.S. Justice Department will unveil later on Wednesday a proposal that seeks to limit legal protections for internet platforms on managing content, a person briefed on the matter confirmed. The proposal, which takes aim at Facebook Inc., Twitter Inc. … from News – Insurance Journal https://ift.tt/2RVdvSQ

House Votes to Extend Flood Insurance Program 1 Year; Senate Yet to Vote

The House of Representatives yesterday extended the National Flood Insurance Program until Sept. 30, 2021 as part of a measure to fund the federal government through December 11. The flood insurance program is currently set to expire in a week … from News – Insurance Journal https://ift.tt/33RKn4P

MMG Insurance Company Hires McPherson as Senior Vice President of Operations

MMG Insurance Company has hired David McPherson as senior vice president of operations, effective September 1, 2020. McPherson will work closely with Matt McHatten, current executive vice president and chief operating officer, to transition into his role. This new position … from News – Insurance Journal https://ift.tt/32W0fUp

The Hilb Group Acquires Connecticut’s Ganim Group

The Hilb Group LLC (THG) has acquired Connecticut-based Ganim Group Inc. (Ganim Benefits) from Ganim Financial Inc. The transaction became effective on September 1, 2020. The Ganim Benefits team, including Valerie Koch, will join THG of New England and continue … from News – Insurance Journal https://ift.tt/2G5bVuZ

Small Plane Crash Lands on Street in Pennsylvania, Two Injured

A small plane traveling from Vermont crash landed on a residential street in Pennsylvania, injuring the pilot and a passenger. The single-engine aircraft was trying to land at Wilkes-Barre/Scranton International Airport on Sunday night when the pilot apparently had engine … from News – Insurance Journal https://ift.tt/3cm5KPw

Citing U.S. Sanctions, Insurers Won’t Cover Ships For Russia, Turkey Pipelines Projects

The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to the International Group of P&I Clubs, including … from News – Insurance Journal https://ift.tt/304fglj

Brokers welcome FCA's crackdown on dual pricing

Experts predict the regulator's proposals to ban dual pricing will have "unintended consequences" and lead to reduced competition for new business, but agree the measures are a positive outcome for consumers. from Insurer - insuranceage.co.uk https://ift.tt/367Bzdw

Florida OKs Emergency Adjusters, Brings In Fraud Strike Teams for Sally Recovery

The Florida Department of Financial Services has deployed its Disaster Fraud Action Strike Team (DFAST) to the Florida Panhandle, as well as activated the state’s emergency adjuster license system to assist with recovery efforts from Hurricane Sally. According to a … from News – Insurance Journal https://ift.tt/3hPHoPa

Insurer Impact from Sally Expected to be Moderate; Losses Estimated at $1B to $3B

Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and reinsurers. “Because Sally appears to be primarily a flood event, … from News – Insurance Journal https://ift.tt/3kAVSEc

Texas’ Blue Bell Creameries to Pay $17.25M in Penalties for Listeria Contamination

Texas-based Blue Bell Creameries L.P. has been ordered to pay $17.25 million in criminal penalties for shipments of contaminated ice cream products linked to a 2015 listeriosis outbreak, according to the U.S. Justice Department/ Blue Bell pleaded guilty in May … from News – Insurance Journal https://ift.tt/2S3TKsJ

Independent Brokers Will Remain Competitive by Adding Value to the Value Chain

The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. Indeed, Esser said, the COVID-19-related coverage disputes involving business interruption pandemic … from News – Insurance Journal https://ift.tt/35W5ci5

Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change

Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary … from News – Insurance Journal https://ift.tt/3i3g8gp

Texas Auto Insurance Plan Association Requests 4.8% Commercial Rate Hike

The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in commercial automobile rates. TAIPA proposed an effective … from News – Insurance Journal https://ift.tt/32QNHOe

Lockton Pacific Promotes Hostovich and Barnes in California

Lockton Insurance Brokers LLC, the Pacific region of global insurance broker Lockton Cos., has named Teena Hostovich vice chair of Lockton Pacific and Greg Barnes president of Greater Los Angeles. Barnes and Hostovich are based in Lockton’s Los Angeles office. … from News – Insurance Journal https://ift.tt/3mN7o1d

Shopify Customer Data Likely Exposed by 2 Employees Attempting to Steal Records

Shopify Inc. said on Tuesday data of customers who shopped at fewer than 200 merchants listed on the company’s e-commerce platform was likely exposed after two employees tried to steal transaction records. The data exposed includes email, name, and address, … from News – Insurance Journal https://ift.tt/2Eq9iUd

Confident Russia Vows to Shoulder Some of the Legal Liability of Its COVID-19 Vaccine

Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project … from News – Insurance Journal https://ift.tt/3010pIy

Toyota Insurance in Europe Joins Swiss Re’s Vehicle Risk Rating System

Toyota is the newest partner in the Swiss Re platform that provides a risk score on vehicles so insurers can develop premiums that reflect new safety features. Through this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Europe, Swiss Re … from News – Insurance Journal https://ift.tt/3kHjJSY

Labor Department Eyes Simpler Rule for Classifying Independent Contractors

The U.S. Department of Labor on Tuesday said it would soon propose a rule that could make it easier to classify workers as independent contractors rather than employees, a major issue for the “gig economy” and other industries that use … from News – Insurance Journal https://ift.tt/2ZXjTxl

Arch Insurance Forms Single Managing Agency to Manage 4 Lloyd’s Operations

Arch Insurance International has formed Arch Managing Agency Limited to mange its Lloyd’s units. Arch Managing Agency Limited, which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency Ltd. into a single operation, will manage Syndicate 2012, Syndicate 1955, … from News – Insurance Journal https://ift.tt/33OLUIU

Copperpoint in Arizona Names Pytel Vice President, Marketing Chief

CopperPoint Insurance Cos. has named Thomas Pytel vice president, chief marketing and corporate communications officer. Pytel ‘s responsibilities include leading the marketing and communications functions for the CopperPoint family of insurance companies. He was most recently vice president, marketing and … from News – Insurance Journal https://ift.tt/3kFTOLd

On Inland Crawl, Beta Dumps Heavy Rains and Floods Streets on Texas Coast

Beta weakened to a tropical depression on Sept. 22 as it crawled inland along the Texas coast south of Houston, unleashing heavy rains, flooding streets, and forcing emergency workers to rescue dozens of people. Rain submerged roads in the nation’s … from News – Insurance Journal https://ift.tt/3mLDfzh

Music Festivals Testing ‘Bubble’ Strategies to Bring Back Outdoor Events

A 200-strong coterie of mostly men gathered in the Poconos Mountains earlier this month to engage in what some regard as this pandemic era’s ultimate taboo: a bacchanalian party. The Utopia music festival took place over the Labor Day holiday … from News – Insurance Journal https://ift.tt/2EtuqZW

California Burnin’ — a Warning Against One-Party Rule: Opinion

“California, folks, is America fast forward.” Thus said Governor Gavin Newsom, hoarsely, amid brown smoke at the North Complex Fire on Sept. 11. “What we’re experiencing right here is coming to a community all across the United States of America … from News – Insurance Journal https://ift.tt/302dCRk

Coronavirus Safety: U.S. Behind Global Rivals in Protecting Meat Plant Workers

The U.S. government is falling behind global rivals when it comes to protecting meatpacking workers from Covid-19 infections, even though the nation’s plants were among the first to confront rampant cases across factories. In Germany, the government is ready to … from News – Insurance Journal https://ift.tt/3kF9K0e

Three Suffer Minor Injuries When New York City Subway Hits Debris and Derails

Three passengers suffered minor injuries Sunday when a New York City subway train derailed after hitting construction debris that had been thrown onto the tracks, authorities said. The derailment happened at about 8:15 a.m. at the 14th Street and Eighth … from News – Insurance Journal https://ift.tt/3i01Dde

Davies Acquires Massachusetts’ TriPlus Service in North American Expansion

Davies, a specialist professional services and technology business, has acquired TriPlus Service Inc, a long-term care insurance third party administrator (TPA) based in Massachusetts. TriPlus provides its long-term care carrier clients with claims and policy administration management solutions as well … from News – Insurance Journal https://ift.tt/3hX3a3w

UK Seeks to Reform How Motor, Home Insurers Treat Loyal Customers

The Financial Conduct Authority has set its sights on revamping the UK motor and home insurance marketplace to help customers, especially loyal policyholders, save money. The FCA is proposing reforms of these markets that it says will “enhance competition, ensure … from News – Insurance Journal https://ift.tt/3iSq6SZ

2 Cruise Lines Submit 74 Safety Steps to Convince CDC to Lift No-Sail Order

A panel set up by Royal Caribbean Group and Norwegian Cruise Line Holdings Ltd. said on Monday it had submitted a report to the U.S. Centers for Disease Control and Prevention (CDC) detailing health and safety protocols, hoping to set … from News – Insurance Journal https://ift.tt/32Tu73T

COVID-19 Vaccine Makers Expect EU Liability Shield for Unexpected Side-Effects

Vaccine makers will be indemnified in Europe if their COVID-19 shots cause unexpected side-effects, an industry official said on Tuesday, as nearly 40 firms pursue talks on possible authorisation for shots in development. The European Commission has confidential liability clauses … from News – Insurance Journal https://ift.tt/3mJYqSj

Banks, Insurers Await ‘Brexit Dividend’ of ‘British-Style’ Regulation

Britain will adopt tough but less bureaucratic financial rules after Brexit, starting with simpler regulation of small banks, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain will soon unveil new legislation for regulating the City of London, … from News – Insurance Journal https://ift.tt/3hMmn84

FCA warns brokers to "pay close attention" after dual pricing ban

Regulator to collect data from any firms setting prices, including brokers, as it calls on the industry to co-operate to tackle the loyalty penalty. from Insurer - insuranceage.co.uk https://ift.tt/3iO2Vcl

Beazley revises Covid-19 claims estimate up to $340m

This is up from April’s $170m prediction, however, the insurer said it did not expect the outcome of last week’s FCA business interruption judgment to have a material impact. from Insurer - insuranceage.co.uk https://ift.tt/35VIfeK

Tifgroup receives libel settlement and apology from The Times

The travel provider has settled with the national paper over “untrue” allegations it published in November 2018. from Insurer - insuranceage.co.uk https://ift.tt/2ZVULr6

FCA signs death warrant for dual pricing

The regulator outlines proposals for a “significant reform” of the motor and home insurance markets and slams "complex and opaque" pricing practices. from Insurer - insuranceage.co.uk https://ift.tt/2HfCD4M

Dive-In launches with authenticity and perspective as its themes

The diversity and inclusion festival, which begins today, has done research that found firms should pay closer attention to D&I in times of crisis. from Insurer - insuranceage.co.uk https://ift.tt/35XJIBi

AAIS Pandemic Policy Endorsement Approved in 6 States

AAIS (the American Association of Insurance Services) has received approval from six state insurance departments for its health-emergency policy endorsement, clarifying coverage and cancellation provisions in the wake of COVID-19. To date, the endorsement has been approved in Arkansas, Arizona, … from News – Insurance Journal https://ift.tt/2ROxwuo

Minnesota Warns of Possible Health Care Patient, Donor Data Breach

Patients and donors to at least four different health care providers in Minnesota are being notified that their personal information may have been compromised. The potential data breach involves hundreds of thousands of patients and donors at Children’s Minnesota, Allina … from News – Insurance Journal https://ift.tt/2ZYKw5d

5th Circuit Reasserts Bad Faith Not Necessary to Win Interest Penalty Against Texas Insurers

A Houston plaintiff’s attorney defeated State Farm Lloyd’s for the fourth time on the same issue, this time coming away with a federal appellate court ruling that policyholders don’t have to prove that their insurer acted in bad faith in … from News – Insurance Journal https://ift.tt/3hTs1VM

3 Alabama Counties Receive Federal Disaster Declaration for Sally Damage

President Donald Trump on Sunday declared a major disaster in three Alabama counties battered by Hurricane Sally. Storm surge and torrential rains swamped Mobile and Baldwin counties on either side of Mobile Bay when slow-moving Sally made landfall Wednesday on … from News – Insurance Journal https://ift.tt/2HpRo5n

Frequent Wildfires Decimating Forests Becomes Concern Worldwide

Wildfires among ponderosa pines and Douglas firs of the U.S. West have long been part of nature’s cycle of renewal, as much as the changing of the seasons. But as climate change makes the region more arid, wildfires have grown … from News – Insurance Journal https://ift.tt/3cwj4kx

International Conference to Examine Abusive Behavior in Gymnastics

The international gymnastics federation will hold a conference next month to discuss misconduct and abuse in elite programs and develop new rules of conduct, the body said Friday. Gymnasts from countries including Britain, the Netherlands and Australia have come forward … from News – Insurance Journal https://ift.tt/3coUd1J

Pubs, Eateries Face Restrictions As England Faces Virus Resurgence

All pubs, bars, restaurants and other hospitality venues across the whole of England must start closing at 10 p.m. from Thursday as Prime Minister Boris Johnson tackles a second wave of COVID-19 infections. Johnson, who will address both parliament and … from News – Insurance Journal https://ift.tt/33RUdUf

Burnham Benefits in California Names Martin Chief Growth Officer

Irvine, Calif.-based Burnham Benefits Insurance Services Inc. has named Chris Martin chief growth officer. Martin has 30 years of experience in the healthcare and insurance industry. He was previously chief business development officer at Crossover Health Burnham Benefits is a … from News – Insurance Journal https://ift.tt/3iQYNZ2

Florida’s Citizens Board of Governors: Beruff In, State Rep Diaz Out

Florida’s Citizens Property Insurance Corp., the state-run insurer of last resort, announced two recent changes to its board of governors. Joining the board in August was Carlos Beruff, a Manatee County businessman. Beruff was appointed by Senate President Bill Galvano, … from News – Insurance Journal https://ift.tt/35RFmvE

Lockton Partners with Michigan Minority Enterprise Brokerage, Birwood Services Group

Lockton has formed a strategic alliance with Birwood Services Group, a Detroit-based certified minority business enterprise (MBE) insurance brokerage. Lockton’s alliance with Birwood is part of the company’s strategy to fill a void in the insurance marketplace by building a … from News – Insurance Journal https://ift.tt/35Ql8T0

AmRisc Wholesale in Texas Is Now Waypoint Wholesale

AmRisc Group, a Houston, Texas-based managing general underwriter for catastrophe and special property insurance, has rebranded its AmRisc Wholesale division to Waypoint Wholesale. In addition to the new brand, there is a new logo — a compass rose with the … from News – Insurance Journal https://ift.tt/3kHsvQZ