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World Insurance Associates LLC (WIA) has acquired Corporate Risk Services LLC and Midwest Risk Management Services Inc. (collectively Corporate Risk Services) of Rogers, Arkansas. Terms of the transaction were not disclosed. Corporate Risk Services is an independent insurance brokerage firm. … from News – Insurance Journal https://ift.tt/2O5MSw2

Guerrero Joins Alliant Insurance Services in Houston

Jessie Guerrero has joined Alliant Insurance Services in Houston as senior vice president, Energy & Marine. Guerrero has extensive experience in all segments of the private and public energy sectors. He will be drawn upon to deliver enhanced consulting solutions … from News – Insurance Journal https://ift.tt/3kuvFIQ

Crash Victims’ Families Seek Boeing CEO Testimony; Lawmakers Seek FAA Records

Relatives of victims of a Boeing Co. 737 MAX crash in Ethiopia that occurred five months after an Indonesian Lion Air disaster are stepping up pressure on the American planemaker and the federal government, according to a court filing and … from News – Insurance Journal https://ift.tt/3q386YN

House Votes to Extend Civil and Labor Rights to LGBTQ Americans; Fate in Senate Uncertain

The Democratic-led House passed a bill Thursday that would enshrine LGBTQ protections in the nation’s labor and civil rights laws, a top priority of President Joe Biden, though the legislation faces an uphill battle in the Senate. The bill passed … from News – Insurance Journal https://ift.tt/3r6bPGb

Investor Suit Alleges Chemours Directors Misled About Firm’s Financials, Liabilities

Chemours Co.’s directors were accused in a lawsuit of duping shareholders about its financial health and the extent of its legal liability at the time it was spun off from a predecessor of DuPont de Nemours Inc. When the former … from News – Insurance Journal https://ift.tt/2MC1ova

Ascot Promotes Thompson to CEO, Bermuda, as Berger Retires

Ascot announced the promotion of Ian Thompson to chief executive officer, Bermuda. Thompson will assume leadership of Ascot’s multi-faceted business on the island, which includes specialty insurance, reinsurance and alternative capital capabilities underwritten from the group’s “A”-rated Bermudian platform. The … from News – Insurance Journal https://ift.tt/3bJilw6

Conner Strong & Buckelew Names Jampana as Senior VP, Chief Information Officer

Conner Strong & Buckelew, an insurance, risk management and employee benefits brokerage and consulting firm, has named 25-year technology leader Anil Jampana as its senior vice president and chief information officer. In this newly created position, he will oversee all … from News – Insurance Journal https://ift.tt/2O7mnWQ

One80 Intermediaries Acquires New York’s Edward E. Hall and Company

One80 Intermediaries has acquired Edward E. Hall and Company (EE Hall). Terms of the deal were not disclosed. One80 is a national wholesale broker, program manager, third-party administrator (TPA), warranty and lender-based insurance provider and insurance aggregator headquartered in Boston, … from News – Insurance Journal https://ift.tt/2ZSDU7Z

Beazley Forms Digital Business Unit to Transform Tech Strategy, Led by Fantozzi

Specialist insurer Beazley has unveiled a new digital business unit to transform how the company develops, underwrites and delivers digital insurance solutions for clients and brokers. Existing digital initiatives and platforms created to further Beazley’s digital capabilities will now be … from News – Insurance Journal https://ift.tt/3r2y6EU

D&O-Focused MGA, Rising Edge, to Launch in 1st Half

Rising Edge, a London-based managing general agent (MGA), writing directors’ and officers’ (D&O) insurance, is set to launch in the first half of 2021. The new company will be led by Chief Executive Officer Philippe Gouraud, a well-known industry executive … from News – Insurance Journal https://ift.tt/2ZQINhJ

Senator Says Microsoft Failed to Fix Cloud Software Issue Used by SolarWinds Hackers

Microsoft Corp.’s failure to fix known problems with its cloud software facilitated the massive SolarWinds hack that compromised at least nine federal government agencies, according to security experts and the office of U.S. Senator Ron Wyden. A vulnerability first publicly … from News – Insurance Journal https://ift.tt/3aSAbxv

AI-Driven Insurance Distribution Platform Wins $11 Million Financing Round

A startup centered around an AI-driven platform for insurance distribution secured $11 million in Series A financing. Zelros plans to use the money, in part to propel its North American expansion, with a new regional headquarters set to launch in … from News – Insurance Journal https://ift.tt/3dJbg1k

EU Seeks More Protection from Climate Risks by Increasing Resilience, Insurance Cover

The European Union is bolstering its 14-trillion-euro ($17 trillion) economy against damage caused by the impacts of climate change, from droughts to floods and forest loss. Under an updated climate adaptation strategy unveiled Wednesday, the European Commission is calling for … from News – Insurance Journal https://ift.tt/3bHhoED

Canadian Insurtech Farmers Edge Raises $100 Million in IPO

Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the top end of its marketed range, according to people familiar with the transaction. Farmers Edge sold shares for about C$17 … from News – Insurance Journal https://ift.tt/3uyhuqP

UK Insurer RSA Reports 15% Hike in 2020 Operating Profit

UK insurer RSA has reported a 2020 business operating result of £751 million ($1.1 billion), up 15% from £656 million ($926 million) reported during 2019. The group paid out some £4.6 billion ($6.5 billion) in “normal” claims while also providing … from News – Insurance Journal https://ift.tt/2NyZ1db

RSA UK COR deteriorates to 99.5%

The insurer said the UK figures were “heavily impacted” by Covid-19 as CEO Hester reflects on group performance since 2014 and flags exit. from Insurer - insuranceage.co.uk https://ift.tt/2ZPth5Q

Beazley reveals digital push with new business unit

Beazley Digital was developed in response to growing demand for e-traded products from brokers and clients and will be led by COO Ian Fantozzi. from Insurer - insuranceage.co.uk https://ift.tt/3aWbctp

ERS posts surge in profit for 2020

COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19. from Insurer - insuranceage.co.uk https://ift.tt/2PagBEx

Irish Insurer FBD More Than Doubles Money Set Aside for Lockdown-Related Claims

DUBLIN – Irish insurer FBD more than doubled the money set aside to cover lockdown-linked claims to 65 million euros ($79 million) after it lost a test case brought by four publicans over a policy that included business-interruption losses. Ireland’s … from News – Insurance Journal https://ift.tt/3aTP7LJ

Texas Marine Services Firm to Pay $125K to Settle Disability Discrimination Suit

A Galveston, Texas-based marine services company, will pay $125,000 and furnish significant equitable relief to settle a disability discrimination lawsuit, federal officials say. The U.S. Equal Employment Opportunity Commission (EEOC) lawsuit alleges T&T Subsea LLC fired a commercial diver because … from News – Insurance Journal https://ift.tt/3srkbbO

Texas Mom Seeks to Raise Fire Safety Awareness after 4 Die in Frigid Home

A Houston-area woman whose mother and three children were killed during the widespread power outages in Texas says she hopes to use money from a fundraising campaign to increase awareness about fire safety. Jackie Nguyen, 41, said that amid frigid … from News – Insurance Journal https://ift.tt/2ZP8tvi

Judge Dismisses Georgia Lawsuit by Transgender Fire Chief Over Technicality

A federal judge has dismissed a discrimination lawsuit by a transgender fire chief who led a rural Georgia city’s fire department for more than a decade, then got fired 18 months after first coming to work as a woman. U.S. … from News – Insurance Journal https://ift.tt/37R1A0T

SIU Adds Kiernan to Marine Brokerage Team in Georgia

Southern Insurance Underwriters, Inc. (SIU) has added John Kiernan to its Marine Brokerage team. He will be based in Alpharetta, Ga. Kiernan comes to SIU with experience in underwriting all classes of hull, marine liability and recreational marine business. Kiernan … from News – Insurance Journal https://ift.tt/3bFa24t

Poms & Associates Adds Roque and Evaniuck in California

Poms & Associates has named Jo Anne Roque vice president of risk services, and Nikki Evaniuck senior account manager. Roque is a member of the Poms & Associates risk services team that serves the New Mexico Public Schools Insurance Authority. … from News – Insurance Journal https://ift.tt/3sujdeV

Insurance Employment Impresses With Insurers Adding 20K Jobs During Pandemic

Levels of employment for the insurance industry are “holding up much stronger than the overall economy,” the leader of an insurance search firm said recently, reporting that insurers have added almost 20,000 jobs since March 2020. The actual number, 19,700 … from News – Insurance Journal https://ift.tt/3qSAeiq

Affirmative Action Foes Ask Supreme Court to Weigh Harvard’s Use of Race in Admissions

Opponents of policies used by universities to increase their numbers of Black and Hispanic students asked the U.S. Supreme Court on Thursday to prohibit Harvard University’s consideration of race in undergraduate admissions in a case that could end such affirmative … from News – Insurance Journal https://ift.tt/3uwB4DH

PPIB in California Names Etter President

Petaluma, Calif.-based Professional Program Insurance Brokerage has promoted Susan Etter to president. Etter will oversee and manage all daily operations of PPIB. The move coincides with the promotion of PPIB founder and current President Susan Preston to vice president of … from News – Insurance Journal https://ift.tt/3qXZWCi

Risk Management (or Lack Thereof) and Texas’ Deep Freeze Energy Failures

While renewable energy sources such as wind turbines and solar panels fuel a fraction of the state’s energy grid, the bulk of Texas’ power is supplied by natural gas, coal and nuclear plants, with natural gas power plants generating nearly … from News – Insurance Journal https://ift.tt/2Ny5Bk8

Crawford & Company Appoints Pageau as VP, Managing Director in New England Region

Crawford & Company, a publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations, has appointed Robert Pageau as vice president and managing director of U.S. Loss Adjusting for the New England region. In this … from News – Insurance Journal https://ift.tt/3uuhgRr

Zurich North America Names Aviva’s Kundi as Canada Chief Risk Officer

Sonia Kundi has joined the Zurich North America Group Risk Management team as Canada chief risk officer, effective immediately. She reports to North America Chief Risk Officer Colleen Zitt and will be a member of her leadership team. She will … from News – Insurance Journal https://ift.tt/2O3P1bm

Appeal Over Dictionary Use Denied in University of Virginia Lacrosse Slaying

A federal judge has rejected an appeal from a former University of Virginia lacrosse player that his 2012 murder conviction should be tossed out because of a claim the jury improperly consulted a dictionary. George Huguely V is serving a … from News – Insurance Journal https://ift.tt/3dImyms

Kenya Seeks More Crop Insurance to Cover Small Farms from Climate Change Risks

Kenya’s agriculture ministry has opened bids for crop insurance providers to cover more smallholder farmers from the risks and shocks of climate change, under a government program, according to a statement in state-owned MyGov newspaper. Companies have until March 16 … from News – Insurance Journal https://ift.tt/302Pb5X

Britain Reviews Rulebooks to Keep Financial Services Sector Competitive After Brexit

Britain is conducting a review of its financial rulebooks and policies to see how it can keep its 130 billion pound ($184 billion) finance sector competitive after Brexit left it largely cut off from the European Union. The government is … from News – Insurance Journal https://ift.tt/3aSDiWf

Texas Lawmakers Told Insurers Want ‘Seat at Table’ As Power Blackout Probe Begins

Texas state legislators on Thursday begin digging into the causes of deadly power blackouts that left millions shivering in the dark as frigid temperatures caught its grid operator and utilities ill-prepared for skyrocketing power demand. Hearings are expected to highlight … from News – Insurance Journal https://ift.tt/37M4292

AXA Reports 18% Drop in Net Income During 2020 with COVID Claims of $1.8 Billion

AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in full-year 2019. The combined ratio for AXA’s P/C business increased 3.2 points to 99.5%, largely reflecting the impact from COVID-19 … from News – Insurance Journal https://ift.tt/3bBPwlb

Axa UK & Ireland P&C COR improves to 96.2%

The provider’s 2020 results showed that, despite a fall in revenue, COR improved as P&C business in the UK reports growth in personal motor and commercial lines. from Insurer - insuranceage.co.uk https://ift.tt/3klfDAS

Ex-Aviva boss Mark Wilson to lead insurtech venture after merger with Complete Cover Group

Motor insurtech Abacai launches with backing from Complete Cover owner Sun Capital and sees Wilson take charge as CEO alongside a leadership team including two executives from CCG. from Insurer - insuranceage.co.uk https://ift.tt/2ZQ0Gxm

UK Prime Minister Warns Climate Change Is Threat to World Security

British Prime Minister Boris Johnson warned world leaders Tuesday that climate change is a threat to security of all nations and sharply criticized people across the globe who say this is “green stuff from a bunch of tree-hugging, tofu-munchers and … from News – Insurance Journal https://ift.tt/37JvDra

Joseph Schauer Named President, CEO at Ohio Agency, Schauer Group

Joseph D. Schauer has been named president and chief executive officer at Schauer Group Inc., a Canton, Ohio-based risk management, business insurance and human capital services firm. Schauer represents the fourth generation of the 102-year-old company. In addition, Aimee B. … from News – Insurance Journal https://ift.tt/2ZLib1K

Aviva Pushes Back Deadline for Final Offers for Polish Operations: Sources

LONDON – Aviva has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland, sources … from News – Insurance Journal https://ift.tt/3knkwJM

Texas’ Upland Capital Group Launches Excess Transportation Liability Program

Newly launched specialty lines insurer, Dallas-based Upland Capital Group (Upland), has added an Excess Transportation Liability (XTL) specialty insurance offering targeting fleet sizes up to 250 revenue producing vehicles. Upland will be writing the program in all 50 states on … from News – Insurance Journal https://ift.tt/2NByFah

Kentucky High School Athletic Association Sued Over Coronavirus Policy

A Kentucky parent has filed a lawsuit against the Kentucky High School Athletic Association over a policy on when student athletes can return to competition after testing positive for COVID-19. Jon Kelly Johnson, a dentist from Mount Sterling, filed the … from News – Insurance Journal https://ift.tt/2NC3wU8

Texas Insurance Exec, Harrison, Honored by Big ‘I’ with Woodworth Memorial Award

Longtime Texas insurance agency executive, William “Bill” E. Harrison Jr., has been honored by the Big “I” with its Woodworth Memorial Award, the national independent insurance agency association’s highest honor. The Woodworth Memorial Award recognizes individuals who serve the insurance … from News – Insurance Journal https://ift.tt/3suDVLN

Liberty Mutual Boosts Profit for Q4 and Year

Liberty Mutual reported net income of $162 million for the fourth quarter and $758 million for the full year 2020, versus a fourth quarter net loss of $301 million and net income $1.037 billion for full year 2019 Liberty Mutual … from News – Insurance Journal https://ift.tt/3aS73q5

Insurance Technowledgy: Hippo, Vertafore, Monte Carlo, Coterie, Buckle and More

InsurTech Hippo is partnering with ADT to add professionally installed and monitored smart home services and discounts for home insurance customers. Hippo customers in select states who enroll in its smart home program will be offered free installation of an … from News – Insurance Journal https://ift.tt/2Pbq6U7

Workers’ Compensation and COVID: More Data on Evolving Claims

Workers’ compensation insurers aren’t getting the large aggregate volumes of COVID-related claims projected during the early months of the pandemic, but different data sources give varying readouts on developments for individual U.S. states and classes of workers. In fact, while … from News – Insurance Journal https://ift.tt/37NtFWV

Fatal Crash in Florida Keys Cuts Power, Shuts Down 3 Schools

A fatal car crash in the Florida Keys on Tuesday morning caused traffic delays and caused officials to close three schools. The crash, which happened around 5:30 a.m. in Key Largo, also knocked down some power lines, the Monroe County … from News – Insurance Journal https://ift.tt/2ZPFGH6

Bill to Limit COVID-19 Lawsuits Approved in Missouri Senate

Missouri senators have passed a bill to shield hospitals, manufacturers and other businesses from lawsuits over alleged wrongdoing during the pandemic. The GOP-led Senate voted 20-13 in favor of the bill, which now goes to the Republican-led state House. Republican … from News – Insurance Journal https://ift.tt/3utU3yF

Truck/Train Collision in Texas Results Large Explosion, Fire

A tractor-trailer and a freight train collided Tuesday morning in central Texas, causing a large explosion and fire, authorities said. There were no immediate reports of injuries after the collision in Cameron, about 130 miles (210 kilometers) south of Dallas. … from News – Insurance Journal https://ift.tt/3bE7iUW

Deadly Power Outages Lead to Board Resignations at Texas Grid Operator

Top board leaders of Texas’ embattled power grid operator have resigned following outrage over more than 4 million customers losing electricity during the mid-February deadly winter storm, including many whose frigid homes lacked heat for days in subfreezing temperatures. The … from News – Insurance Journal https://ift.tt/3qUVrbv

California Woman Sentenced in $135K Staged Collision Ring

Zandra Monterrozo, 44, of Corona, Calif., pleaded guilty and was sentenced for her involvement in an organized ring that intentionally staged vehicle collisions to collect more than $135,000 in insurance payouts. Eleven other suspects have been either charged or prosecuted. … from News – Insurance Journal https://ift.tt/3qSO0BI

Massive SolarWinds Hack Prompts Calls for U.S. Law Requiring Cyber Breach Reporting

A bipartisan group of senators on Tuesday recommended that the U.S. consider requiring companies to disclose when they have been hacked. At the first public hearing before Congress since a massive cyber-attack by suspected Russian hackers was disclosed in December, … from News – Insurance Journal https://ift.tt/2ZLXaEa

Suspect Arrested in June 21 Fatal Shooting in Connecticut Hotel

A suspect has been arrested in a fatal shooting last June in a Meriden hotel, police said. Trevor Outlaw, 33, was arrested Friday in the June 21, 2020 death of Giovanni Rodriguez at the Comfort Inn on East Main Street, … from News – Insurance Journal https://ift.tt/3umFAVg

New Members Appointed to New York State Insurance Advisory Board

The New York State Department of Financial Services (DFS) has appointed members to serve a three-year term on the New York State Insurance Advisory Board. Members of the board include representatives of the insurance industry and consumer advocates, as required … from News – Insurance Journal https://ift.tt/3dIDjhe

Allianz Global Corporate & Specialty Promotes Fioretti in New York

Allianz Global Corporate & Specialty (AGCS) has named Katie Fioretti as regional head of portfolio steering for financial lines in North America, effective immediately. She assumes the role from Alessandro Carriglio, now head of claims reporting and analytics. Fioretti reports … from News – Insurance Journal https://ift.tt/2NUoXjd

French Privacy Watchdog Probes Massive Leak of Sensitive Health Data

France’s privacy watchdog said it’s investigating the leak of sensitive health data on half a million people and said the companies involved could face heavy penalties if they don’t come forward with details of the breaches. The leaks were of … from News – Insurance Journal https://ift.tt/2ZSbvyJ

Finland’s Sampo Steps Up Move to Become Pure Insurance Group, Cutting Nordea Stake

Finnish financial group Sampo plc is continuing its transformation into a pure insurance group with an announcement that it will substantially cut its 15.9% stake in Nordea Bank. Sampo’s board and management said the company will focus on high-quality P/C … from News – Insurance Journal https://ift.tt/2P7urYq

EPIC Realigns Leadership With O’Neil as President; Creates New Regional Lineup

EPIC Insurance Brokers and Consultants announced organizational and restructuring changes across the company. Tom O’Neil has been named president of EPIC and will work directly with CEO Steve Denton to grow the business across its entire platform – from Private … from News – Insurance Journal https://ift.tt/3kltLdf

Furtschegger Appointed Global Head of Entertainment Line of Business at AGCS

Michael Furtschegger has been appointed as global head of Entertainment at Allianz Global Corporate & Specialty (AGCS), reporting directly to Dr. Renate Strasse, AGCS SE board member and chief underwriting officer specialty. Based in Munich, Furtschegger has led the global … from News – Insurance Journal https://ift.tt/3sk4za3

AXA, Other Mega-Investors Seek to Avoid Portfolios with Global Warming Potential

All good money managers expect to outperform their benchmark, and by one such metric the French insurer and investor AXA SA recently scored a market-beating success. Not by delivering higher returns, but by generating a lower level of global warming. … from News – Insurance Journal https://ift.tt/3utUOaX

FCA finalises guidance on vulnerable customers

The regulator highlights that 27.7m UK adults could be categorised as vulnerable as it promises to hold firms to account for failures. from Insurer - insuranceage.co.uk https://ift.tt/2ZNG4Wl

Italy’s Top Insurer Generali to Invest €3.5B in COVID-Hit European Countries

MILAN – Italy’s top insurer Generali said on Wednesday it launched a 3.5 billion euro ($4.26 billion) investment plan over five years to support the recovery of European countries hit by COVID-19. The plan, dubbed Fenice 190 to celebrate the … from News – Insurance Journal https://ift.tt/2NYsOvj

Plans to Reform UK Insurance Capital Rules Not Part of ‘Deregulatory Agenda’: Minister

Britain’s plans to change capital requirement rules for insurers following its departure from the European Union are about tailoring them to local conditions rather than any “gratuitous deregulatory agenda,” its financial services minister said. Britain inherited the Solvency II insurance … from News – Insurance Journal https://ift.tt/2NBkIZN

Blog: The light at the end of the tunnel?

Stuart Kilpatrick, of Burns & Wilcox, a HW Kaufman company, considers how the tough market could evolve in a post-Covid world. from Insurer - insuranceage.co.uk https://ift.tt/3sqXrbI

Ageas reports 95.2% COR

The improved position was down to lower motor claims due to the lockdown as the insurer reports growth in broker deals for household and commercial. from Insurer - insuranceage.co.uk https://ift.tt/3smDOBF

Willis Towers Watson, Liberty Specialty Markets Launch Reputational Crisis Coverage

Willis Towers Watson and Liberty Specialty Markets have partnered to offer reputational crisis insurance that enables organizations to transfer the financial risk associated with certain types of reputational crises and provides access to non-insurance capabilities, including AI-powered data analysis. The … from News – Insurance Journal https://ift.tt/3bxsqfv

Florida Legislature Weighs Options to Address Rising Homeowners Insurance Costs

Three bills currently working their way through the Florida Legislature are designed to tackle the rising costs of homeowner roof claims, the costs of attorney fees in homeowner’s claims and issues surrounding notice to insurance carriers. The proposed legislations come … from News – Insurance Journal https://ift.tt/3utQSHi

Minick Retiring from Texas Workers’ Comp Alternatives Risk Managing Firm, PartnerSource

Bill Minick, founder of Texas-based workers’ compensation risk management firm, PartnerSource, will retire at the end of March. Jennifer Hurless, president of PartnerSource, will continue in her current role leading the company. Minick began his professional career as a corporate … from News – Insurance Journal https://ift.tt/3pJ3p6c

Bills to Block Mandatory Worker Vaccines Falter in the States: Stateline

Lawmakers in at least 23 states, often encouraged by vaccine skeptics, have proposed banning employers from requiring workers to get vaccinated against COVID-19 or other infectious diseases. Most bills are sponsored by Republicans, who say employees shouldn’t have to choose … from News – Insurance Journal https://ift.tt/2NSmWE0

Aviation Regulator Sees Pandemic Bringing New Safety Risks

U.S. Federal Aviation Administration chief Steve Dickson warned on Tuesday of a changed industry in the wake of the COVID-19 pandemic that has shaken air travel over the past year and created new safety risks that must be addressed. “The … from News – Insurance Journal https://ift.tt/3pQGXIp

Insurers Plan to Continue Hiking Liability Rates for Architects, Engineers: Ames Gough

Most professional liability insurers covering architects and engineers (A/E) achieved varied premium growth last year as the U.S. construction industry remained resilient during the COVID-19 pandemic. Yet, worsening claims experience is prompting these insurers to seek larger rate increases, according … from News – Insurance Journal https://ift.tt/3pOGxCm

Smith Joins Palomar Insurance in Georgia

Palomar Insurance has added Reese Smith, III to its expanding sales team as an acount executive specializing in the transportation industry. Smith has experience with trucking insurance and personalized service and will work to assist clients in understanding their company’s … from News – Insurance Journal https://ift.tt/2ZXSviJ

Worker Injuries Rise as Oklahoma Pork Plant Speeds Up Slaughtering

One of America’s leading pig slaughterhouses is running faster than ever as meatpackers hustle to keep pork in grocery stores during the COVID-19 pandemic. Plant worker Hector Ixquier says it’s time to slow down. Ixquier said he sought medical treatment … from News – Insurance Journal https://ift.tt/3dApT74

$1B Class-Action Suit Filed Against Texas Wholesale Electricity Provider, Griddy

A Chambers County, Texas, resident has filed a class-action lawsuit against electricity retailer Griddy, accusing the provider of price gouging customers during last week’s freeze. She is seeking $1 billion in relief for affected customers. Attorneys for Lisa Khoury said … from News – Insurance Journal https://ift.tt/37HpiMY

Aspen’s Bonds Joins CRC as Chief Officer for Property Programs

National wholesale broker CRC Group announced that Alex Bonds has joined the company as chief officer for Property Programs to lead CRC’s exclusive Insurisk brand’s property facility development. Bonds joins the CRC Group team from Aspen Insurance where he was … from News – Insurance Journal https://ift.tt/3keE7vA

UK, EU to Create Financial Services Cooperation Forum for Market Access Talks

Plans by Britain and the European Union to set up a new financial cooperation forum by the end of March have made some progress but this will not automatically lead to market access, senior officials said on Tuesday. Britain’s trade … from News – Insurance Journal https://ift.tt/3aJwgTA

More Insurer Partnerships, Tech Investments, Divestitures to Come in 2021, Says Bain

Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and mergers and acquisitions will help them get there as it did in 2020, according to a Bain & Co. report. “We anticipate that … from News – Insurance Journal https://ift.tt/3slWrG8

Northwest Alaska City Declares Disaster Following Power Outage

A small northwest Alaska city of about 900 people has declared a disaster after suffering a power outage that shut off water lines. While power has been restored in the city of Selawik, only some water lines are operational again. … from News – Insurance Journal https://ift.tt/3qIR9nw

California Lawmakers Introduce Proposal to Ban Fracking by 2027

New legislation would ban all fracking in California by 2027, taking aim at the powerful oil and gas industry in the state already planning to ban the sale of new gas-powered cars by 2035. Progressive California has long been a … from News – Insurance Journal https://ift.tt/3pNccUT

Settlement Reached in California Suit Alleging Franco Sexual Misconduct

A settlement agreement has been reached in a lawsuit that alleged James Franco intimidated students at an acting and film school he founded into gratuitous and exploitative sexual situations. A status report jointly filed by the two sides in Los … from News – Insurance Journal https://ift.tt/2ZHNdYl

Lloyd’s Survey Results Show More Inclusive Culture, but Improvement Still Needed

Lloyd’s has made notable progress in its push to become more inclusive, according to its 2020 culture survey, but it still has plenty of room for improvement—especially when it comes to the experiences of Black and minority ethnic talent. The … from News – Insurance Journal https://ift.tt/3brgrjG

Nine Injured, Two Seriously, in Explosion at New York City Residence

Authorities said nine people were injured, two seriously, after an explosion Thursday at a three-story New York City residence that blew out windows and sent a door flying into power lines. The report of an explosion on Paulding Avenue in … from News – Insurance Journal https://ift.tt/3kcjsIE

Facebook Employee Called Inflated Ad Metrics ‘Deeply Wrong’

Facebook Inc. internal emails made public in court reveal an employee’s concerns the company misrepresented advertisers’ estimated audience, calling the practice “deeply wrong.” But senior executives didn’t want to fix the problem because the impact on revenue would have been … from News – Insurance Journal https://ift.tt/3pJnn0B

Teen Sought in Fatal Bowling Alley Shooting Near Philadelphia Turns Himself In

A 17-year-old boy sought in connection with a bowling alley shooting near Philadelphia that left one person dead and four others injured has turned himself in, authorities said Monday. The teen faces numerous counts, including murder, attempted murder and aggravated … from News – Insurance Journal https://ift.tt/2ZEWAYV

High Street Insurance Partners Acquires New York’s Badge Agency

Huron Capital Partners LLC, a lower middle-market private equity platform, has announced that its full-service insurance brokerage platform, High Street Insurance Partners (HSIP), has acquired Badge Agency Inc. Founded in 1968, Woodbury, New York-based Badge Agency is a full-service, multi-line … from News – Insurance Journal https://ift.tt/2NquEWe

MAPFRE Insurance Hires Sjolin as Vice President of Business Development

MAPFRE Insurance has hired Gary Sjolin as vice president of Business Development. Sjolin, a 30-year industry veteran, will build and lead business development strategies in Massachusetts to reinforce and expand the company’s market position. Prior to joining MAPFRE, Sjolin held … from News – Insurance Journal https://ift.tt/3pFsbEk

Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions

A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction … from News – Insurance Journal https://ift.tt/3se1V5w

Lloyd’s Insurer Brit to Stop Insuring Australia’s Adani Coal Mine

Major Lloyd’s of London insurer Brit will not insure Adani Enterprises’ Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd’s insurers who have made similar pledges. Carmichael has provoked controversy in Australia with its … from News – Insurance Journal https://ift.tt/2Mh1nfT

Some progress but still problems as Lloyd’s publishes culture survey

Since the last survey in 2019 4% of workers have witnessed sexual harassment, despite the 2020 lockdown, and just 57% feel concerns are listened to. from Insurer - insuranceage.co.uk https://ift.tt/3aHvc2B

BHSI Appoints MSIG’s Neumann as Head of Casualty in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced it has named Mathias Neumann as head of Casualty in Germany. Mathias has more than 20 years of experience in the insurance industry in Germany. He spent the last 14 years at MSIG Insurance … from News – Insurance Journal https://ift.tt/3sll9GE

UK’s Aviva to Sell French Business for $3.9 Billion, Continuing Core-Market Strategy

Aviva Plc agreed to sell its French business for 3.2 billion euros ($3.9 billion), the largest deal so far in Chief Executive Officer Amanda Blanc’s push to streamline the UK insurer. The unit was sold to French mutual insurer Aema … from News – Insurance Journal https://ift.tt/2P5df5R

U.S. Fraud Crackdown Eroding Private Equity’s Liability Shield

Insiders said one company pushed unnecessary pain medication to the U.S. military; another promoted an unproven treatment for children with cancer; and a third used unlicensed counselors to treat poor people with mental illness. In all three cases, taxpayers footed … from News – Insurance Journal https://ift.tt/3pGoWwd

Arch to Back Coalition Cyber Insurance Programs with Long-Term Capacity

Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Errors & Omissions insurance programs. The capacity will be available through Arch Insurance North America’s … from News – Insurance Journal https://ift.tt/3pTdQV3

Texas Ranchers Scrambled to Keep Animals Alive in Extreme Cold

Texas ranchers worked overtime to haul water and hay to cattle to keep them alive during a freak winter storm, but some cows succumbed to unusual icy temperatures that also killed chickens, idled meat plants and threatened crops. The deaths … from News – Insurance Journal https://ift.tt/3ujAKbz

Family of Woman Killed in New Orleans Float Accident Sues Carnival Krewe

The family of a woman killed in a float accident during the 2020 Nyx parade is suing the krewe, its captain, and the City of New Orleans. The family of Geraldine Turner Carmouche claims that the city, the Mystic Krewe … from News – Insurance Journal https://ift.tt/2ZG16Gv

Judge Tosses Wife’s Suit Blaming Employer for Her Husband’s Covid

A federal judge tossed out a first-of-its-kind lawsuit that sought to hold an employer responsible for a worker’s spouse getting sick with Covid-19. U.S. District Judge Maxine M. Chesney in San Francisco on Monday dismissed the complaint filed by Corby … from News – Insurance Journal https://ift.tt/3btyNjX

Mother of 11-Year-Old Who Died in Texas Freeze Sues Power Companies for $100M

The mother of an 11-year-old boy who died after they lost electricity and heat in their Texas mobile home during last week’s freeze has filed a $100 million lawsuit against two power companies for gross negligence. Maria Pineda said the … from News – Insurance Journal https://ift.tt/3aH2T4u

People Moves: 22 - 26 February 2021

Stay up-to-date with the latest personnel change in insurance. from Insurer - insuranceage.co.uk https://ift.tt/2Nl10ld

QBE Reports Full-Year 2020 Loss of $1.5 Billion; No Final Dividend Declared

QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance group pre-announced in late mid-December. The result represents nearly $1 billion downward swing from a $522 million net profit reported … from News – Insurance Journal https://ift.tt/3dxHHQd

Third Point Re Announces Appointments to SiriusPoint Leadership Team

Third Point Reinsurance Ltd. has announced additional executive and senior underwriting roles at SiriusPoint Ltd., the new company created as a result of the anticipated merger of Third Point Re and Sirius International Insurance Group Ltd. The leadership team announcements … from News – Insurance Journal https://ift.tt/3sularV

Bills That Help First Responders Hit by COVID-19 Advance in Virginia

Virginia lawmakers have passed bills that allow certain first responders to file workers’ compensation benefits for being disabled from COVID-19, but still need to reach agreement on some differences. The measures would make COVID-19 an occupational disease for firefighters, emergency … from News – Insurance Journal https://ift.tt/3bvFLVE

Risk Strategies Promotes Hoffman, Smith to Managing Directors

Risk Strategies, a national specialty insurance brokerage and risk management firm, has promoted Tracy Hoffman and Matthew Smith to managing directors as part of planned leadership successions in both its Managed Health Care and Reinsurance practices. In her new role, … from News – Insurance Journal https://ift.tt/3qPpAJu

Big I Advantage Promotes Juratovic to Assistant Vice President for E&O

The Big “I” announced that Amanda H. Juratovic has been promoted to assistant vice president of errors & omissions operations at Big I Advantage. Juratovic will lead the Big “I” Professional Liability program, which offers member-only agency E&O coverage with … from News – Insurance Journal https://ift.tt/2Nkmyyl

Ensurise Merges with Insurance Brokerage Operations of Howard Eales

Independent insurance agency Ensurise LLC has merged with the insurance brokerage operations of Howard Eales Inc., effective January 1, 2021. Howard Eales will continue to operate from its Washington D.C. location following the acquisition. Currently in its fourth generation of … from News – Insurance Journal https://ift.tt/3pJIM9S

Debris Could Threaten Operations in Space – as Well as Earthbound Activities

Hiscox, the specialist insurer, has called for action to tackle the growing problem of manmade space debris and the threat posed to current and future space operations. According to figures from the European Space Agency, there are believed to be … from News – Insurance Journal https://ift.tt/3kaFR92

Fight Brewing over Insurer-Backed California Bill That Includes Autobody Shops

An insurance industry-backed California bill to create a new regulatory board for towing and storage companies under the California Department of Consumer Affairs has drawn opposition from the auto body industry. Assembly Bill 294 was introduced by Assemblyman Miguel Santiago, … from News – Insurance Journal https://ift.tt/3qJrafM

WTW and Liberty Specialty Markets launch reputational crisis product

The proposition enables transfer of financial risk and is powered by AI data analysis. from Insurer - insuranceage.co.uk https://ift.tt/3pOIajC

Bursting Pipes, Sagging Roofs Strain Texas Adjusters, Contractors

After the big freeze in Texas comes the big thaw — and the big demand for workers to repair the broken pipes and sagging roofs the retreating ice and snow will reveal. It could take months for contractors to fix … from News – Insurance Journal https://ift.tt/3qIlgeT

About 1,000 EU Finance Firms, Such as Insurers, Eye Opening Post-Brexit Outposts in UK

Around 1,000 European Union finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory … from News – Insurance Journal https://ift.tt/2Mcaaj9

Airlines Urged to Suspend Flying 777s Jets After United Falling Debris Incident

Boeing Co. urged airlines to suspend the use of 777 jets with the same type of engine that shed debris over Denver at the weekend after U.S. regulators announced extra inspections and Japan suspended their use while considering further action. … from News – Insurance Journal https://ift.tt/3aIJ7FE

Uber’s UK Court Loss Likely to Trigger More Complaints from Gig Workers Across Europe

Uber Technologies Inc.’s defeat in a UK legal battle over the way it treats its drivers is set to trigger a wave of complaints from workers across the region. Britain’s Supreme Court ruled Friday that Uber must treat its drivers … from News – Insurance Journal https://ift.tt/3bwOLtN

Israeli Insurtech Earnix Reaches $1 Billion Valuation After Financing Round

Israeli startup Earnix Ltd., which uses advanced analytics to help insurers and banks offer personalized financial products, reached a $1 billion valuation in a financing round led by Insight Partners. Existing investors Jerusalem Venture Partners, Vintage Investment Partners and Israel … from News – Insurance Journal https://ift.tt/3k9aNGW

Zurich takes stake in MyPolicy

The provider has also joined the panel of the analytics and telematics specialist. from Insurer - insuranceage.co.uk https://ift.tt/2MaXgls

Insurer Wins Case Filed by New Orleans Restaurant that Filed Early COVID Claim

A New Orleans judge denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of the COVID-19 pandemic. The lawsuit … from News – Insurance Journal https://ift.tt/3pKr7yS

Risks of Business Failures ‘Remain Considerable,’ Says Fed

The risks of ongoing business failures in the United States “remain considerable” even as the economy emerges from the coronavirus pandemic, the Federal Reserve said on Friday in its semi-annual monetary policy report to Congress. Business borrowing “now stands near … from News – Insurance Journal https://ift.tt/3k8wHKt

Insurers Seek to Question Abuse Claimants, Lawyers in Boy Scouts Bankruptcy

The judge presiding over the Boys Scout of America bankruptcy is weighing a request by insurance companies for permission to serve document requests on 1,400 people who have filed sexual abuse claims and to question scores of them under oath … from News – Insurance Journal https://ift.tt/2NO2GDD

Researchers Testing If Wearable Wristwatch Can Detect COVID-19 Infection

University of Miami Miller School of Medicine researchers are recruiting health care workers to study whether a wearable device, a wristwatch, can capture real time data that can be used to alert wearers of subtle physiological changes that may indicate … from News – Insurance Journal https://ift.tt/2ZF5C8i

Miami Business Owners Accused of Evading $300K in Workers’ Comp Premiums

An investigation by the Florida Department of Financial Services’ Division of Investigative and Forensic Services (DIFS), Bureau of Workers’ Compensation Fraud, has led to the arrest of two business owners for allegedly failing to pay more than $300,000 in workers’ … from News – Insurance Journal https://ift.tt/3ulhL08

World Insurance Associates Acquires LCL Insurance of North Carolina

World Insurance Associates LLC (WIA) has acquired LCL Insurance LLC (LCL) of Charlotte, N.C. on Feb. 1, 2021. Terms of the transaction were not disclosed. According to Rich Eknoian, CEO and Co-Founder of WIA, the acquisition of LCL Insurance LLC … from News – Insurance Journal https://ift.tt/2ZCqcG7

Insurance Losses From Texas Storm May Set First Quarter Record: A.M. Best

Insurers could suffer record first-quarter catastrophe losses after the historic Texas winter storm, which crippled the state’s electrical grid and caused extensive property damage including collapsed roofs and broken pipes, insurer credit rating agency A.M. Best said on Friday. The … from News – Insurance Journal https://ift.tt/2ZBYucF

Viewpoint: Biometric Information Privacy Statutes Could Be a Minefield for Insurers

In recent years, there has been a dramatic increase in private entity use of biometric-dependent technology to assist with employee timekeeping, financial transactions and security. In turn, privacy concerns regarding biometric information have intensified, prompting legislators to enact statutory protections … from News – Insurance Journal https://ift.tt/37wj8PJ

A.M Best Upgrades E&S Insurance; Praises Resiliency, Clear Terms Amid Pandemic

A.M. Best has upgraded its outlook for the U.S. excess & surplus lines insurance sector citing its resiliency in the face of pandemic challenges. A.M. Best revised its outlook for U.S. E&S to Stable from Negative. “Despite the widespread impact … from News – Insurance Journal https://ift.tt/3qCzfTg

Fitch Sees ‘Modest’ Homeowners Insurance Underwriting Loss for 2020

The homeowners insurance industry is poised to shift to a modest underwriting loss for 2020, reports Fitch Ratings, citing losses from natural catastrophes and managing operations amid the global pandemic. However, barring another overly severe catastrophe season in 2021, the … from News – Insurance Journal https://ift.tt/3s6oEQY

UK to Set Up Green Finance Hubs to Encourage Banks, Insurers to Invest in Renewables

The UK will set up green finance hubs in Leeds and London as part of efforts to encourage lenders and insurers to invest in renewable energy and sustainable agriculture. The two cities will host the new UK Centre for Greening … from News – Insurance Journal https://ift.tt/2OSZNlr

Insurers Expect ‘Hundreds of Thousands’ of Claims from Texas Storm

U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of its losses from a winter storm that has crippled its electrical grid. Insurers’ losses could stretch into billions … from News – Insurance Journal https://ift.tt/3umeBcH

UK Court Rules Uber Drivers Should Be Classed as Workers, in Blow to Business Model

LONDON – A group of Uber drivers are entitled to worker rights such as the minimum wage, Britain’s Supreme Court ruled on Friday in a blow to the ride-hailing service that has ramifications for millions of others in the gig … from News – Insurance Journal https://ift.tt/3pE4pZg

SPAC Backed by AmTrust Executives Files for $300M IPO

A blank-check firm, backed by AmTrust Financial Services Chief Executive Officer Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on Friday. Pine Technology Acquisition Corp. said it plans to sell 30 … from News – Insurance Journal https://ift.tt/3k7ULwP

Caribbean Agricultural Workers Keep Fighting for Compensation from Pesticide Exposure

SAN JUAN, Puerto Rico – Agricultural workers who have long sought compensation for contamination from a pesticide banned in France but used in the country’s Caribbean islands of Martinique and Guadeloupe have finally had a day in court after a … from News – Insurance Journal https://ift.tt/3pzotMy

LV confirms 300 redundancies following L&G takeover

CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a restructure. from Insurer - insuranceage.co.uk https://ift.tt/3dsmMhx

Swiss Re Reports Larger-Than-Expected Annual Loss of US$878 Million

Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects a return to profit in 2021. Swiss Re and … from News – Insurance Journal https://ift.tt/2Zyvanr

Specialty Lines MGA Ensurance Completes New Capacity Deal with AXA

Ensurance, the London-based specialty managing general agent, has announced a new capacity deal with AXA Insurance UK plc for its core construction and engineering products. AXA replaces Swiss Re as the MGA’s main capacity provider, effective from Feb. 1, 2021. … from News – Insurance Journal https://ift.tt/3av8zhL

Allianz nears £4bn in GWP

Provider says total impact of Covid-19 BI claims in 2020 was £175m and detailed it has to date paid 78% of valid SME claims. from Insurer - insuranceage.co.uk https://ift.tt/2ZtBM6D

Officials: ‘Freak Storm’ Caused Deadly North Carolina Tornado

North Carolina Gov. Roy Cooper said Wednesday that the state must learn from the surprise tornado that struck Ocean Isle Beach with little or no warning, leaving three people dead and 10 injured. The governor surveyed the brunt of the … from News – Insurance Journal https://ift.tt/3qvEdRQ

North Carolina Offering Altered Road Test for Teen Drivers to Receive Licenses

North Carolina’s Division of Motor Vehicles has started offering road tests to teen drivers again. The Raleigh News & Observer reports that the DMV had largely stopped the tests last March to prevent the spread of the coronavirus. The agency … from News – Insurance Journal https://ift.tt/3kanHVa

Crum & Forster Adds Quaranta, Borovski to East, Southeast eRisk Teams

Crum & Forster has expanded its eRisk team with the addition of Cassie Quaranta as an executive underwriter in the Northeast Region and Vlad Borovskyi as an underwriter in the Southeast Region. Quaranta and Borovskyi will focus on underwriting cyber … from News – Insurance Journal https://ift.tt/2ZusvuV

Allianz Reports 2.2% Decrease in Q4 Net Profit

FRANKFURT – German insurer Allianz on Friday posted a smaller-than-expected 2.2% fall in fourth-quarter net profit, amid pressure on business from the coronavirus pandemic. The company posted net profit attributable to shareholders of 1.817 billion euros ($2.20 billion) in the … from News – Insurance Journal https://ift.tt/37rHR7T

Citing Bias, Black Franchise Owner, Ex-MLBer, Sues McDonald’s

The Black owner of 14 McDonald’s franchises says the company has shown more favorable treatment to white owners and denied him the opportunity to buy restaurants in more affluent communities, according to a civil rights lawsuit filed in federal court … from News – Insurance Journal https://ift.tt/3dsaJkk

Why Industry Must Take Measurable Steps to Increase Diversity

A key takeaway from 2020 is the acknowledgement that change of a magnitude greater and more frequent than anyone had anticipated is upon us. One of the best ways for insurers and their business partners to embrace this momentum in … from News – Insurance Journal https://ift.tt/3k4hs59

Oklahoma Legislation Would Require Tornado Safety Information in Hotels

Under legislation passed by the Oklahoma House of Representatives, new or renovated hotels and motels would be required to tornado safety information in every room and common areas. Rep. Denise Crosswhite Hader, R-Piedmont, who authored House Bill 1748, said the … from News – Insurance Journal https://ift.tt/3s8b9jG

$23.9M Returned to Missouri Insurance Consumers in 2020

The Consumer Affairs and Market Regulation divisions of the Missouri Department of Commerce and Insurance (DCI) helped consumers receive an additional $23.9 million from their insurance companies in 2020, the department reported. The monies were returned as a result of … from News – Insurance Journal https://ift.tt/37sj4As

OSHA: Missouri Plumbing Contractor Fined $299.5K for Trench Safety Violations

Barely two years after an Oak Grove, Missouri, plumbing contractor agreed to adopt a comprehensive trench safety program following the December 2016 death of an employee in an unprotected trench, federal inspectors responding to a complaint in August 2020 found … from News – Insurance Journal https://ift.tt/3dyVwh4

Winter Storm Uri to Generate Billions in Insured Losses: Moody’s

The massive winter storm that barreled through the mid-section of the United States and across the South in mid-February, hitting Texas particularly hard, will generate billions in insured losses, according to commentary by Moody’s Investors Services. The storm, which has … from News – Insurance Journal https://ift.tt/37soyLE

AIG Hikes Rates Up to 45%; Reports Interest in Life/Retirement Unit Sale

American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief executive on … from News – Insurance Journal https://ift.tt/3bmXSwO

Captain Pleads Not Guilty to Manslaughter in California Dive Boat Fire

The captain of a scuba diving boat that burned and sank off the California coast, killing 34 people, pleaded not guilty this week to manslaughter charges. Jerry Boylan was arraigned in federal court in Los Angeles on 34 counts of … from News – Insurance Journal https://ift.tt/2NEJ0li

Risk Placement Services Hires Harvey as Executive VP in Its Brokerage Division

Risk Placement Services (RPS) has hired Jeff Harvey as executive vice president of casualty for its brokerage division. In this role, he will support growth of the large casualty practice in the Northeast region and provide additional support for the … from News – Insurance Journal https://ift.tt/2OEK21d

Analysis: Are we moving towards market failure for high-rise buildings?

PI and property rates were hit hard following the Grenfell fire horror. Martin Friel investigates the wider insurance implications but is met with deafening silence from providers as brokers sound the alarm. from Insurer - insuranceage.co.uk https://ift.tt/3s9nP9V

Earthquake Warning System Rolling Out in Oregon, Washington

The earthquake early warning system known as ShakeAlert will be capable of delivering alerts directly to wireless devices in Oregon on March 11 and to Washington state in May, completing the West Coast rollout, the U.S. Geological Survey said. The … from News – Insurance Journal https://ift.tt/3pDGKs8

Five People, Four Companies Issued Fraud, Licensing Violation Orders in Maryland

The Maryland Insurance Administration (MIA) has issued civil administrative orders carrying penalties of nearly $500,000 against five individuals and four companies for insurance fraud and acting as public adjusters without a license. The administration noted in a press release that … from News – Insurance Journal https://ift.tt/3qE2bus

Berkshire Hathaway Specialty Names 3 Regional Executives for Professional Lines

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its U.S. Executive & Professional Lines leadership team, naming Shelley Norman as senior vice president, Management Liability, Central region, and promoting Kevin Gallagher to senior vice president, Management Liability, East region, and Sean … from News – Insurance Journal https://ift.tt/3pwNB6o

Wife Sues Husband’s Employer Over COVID-19 Infection

A federal judge is weighing what she called a first-of-its-kind lawsuit that would hold an employer responsible for a worker’s spouse getting sick with Covid-19. Plenty of families have sued businesses, from retailers to meatpacking plants, claiming that unsafe workspaces … from News – Insurance Journal https://ift.tt/3qwmRV6

U.S. Charges 3 North Koreans in $1.3B Hacking of Banks, Sony, Others

The United States has charged three North Korean computer programmers with a massive hacking spree aimed at stealing more than $1.3 billion in money and cryptocurrency, affecting companies from banks to Hollywood movie studios, the Department of Justice said on … from News – Insurance Journal https://ift.tt/3blqneo

Many Firms Aren’t Paying OSHA Fines Levied for COVID-19 Safety Violations: Reuters

U.S. workplace safety regulators have announced more than $4 million in penalties on more than 300 employers they say put workers at risk during the COVID-19 pandemic. But about two-thirds of these employers aren’t paying up. Only 108 companies had … from News – Insurance Journal https://ift.tt/3dpDUEA

Rock develops underwriting agency to target brokers

Tigon focuses on travel and Covid-19 cancellation cover as Rock seeks to diversify. from Insurer - insuranceage.co.uk https://ift.tt/37r846n

France to Boost Cyber Security Defenses After Attacks

President Emmanuel Macron announced new investment to bolster France’s cyber security defenses after two hospitals were struck by ransomware and the national security agency linked a large cyber attack spanning three years to Russian hackers. The government is earmarking around … from News – Insurance Journal https://ift.tt/3dptDrK

Collapse of Stack at ArcelorMittal South Africa’s Steel Plant Kills 3

JOHANNESBURG – The bodies of three workers were found overnight at ArcelorMittal South Africa’s Vanderbijlpark Works, after the collapse of a coke battery stack at the steel plant the previous morning, the company said on Thursday. Africa’s biggest steel producer, … from News – Insurance Journal https://ift.tt/2OR2uE3

HDI Global Resets International Strategy for Liability Line, Expands Management Team

HDI Global SE (HDI) is resetting the strategy of its Liability Line and is expanding its management team that reports to Dr. Mukadder Erdönmez, member of the HDI Global SE Executive Board. Joining the management of the Liability Line (underwriting) … from News – Insurance Journal https://ift.tt/2ZpOhA3

MD for Arch Managing Agency revealed

Louis Tucker takes on the role with immediate effect, moving across from parent company Arch Insurance International. from Insurer - insuranceage.co.uk https://ift.tt/3bdAPos

Australia Regulator Raises Antitrust Concerns over $30B Aon-Willis Towers Watson Deal

Australia’s competition regulator on Thursday raised initial concerns over Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, close on the heels of a similar move by EU antitrust regulators. The merger could significantly … from News – Insurance Journal https://ift.tt/3k6y24j

Minnesota Business Owners Ruined by Protests Plead for Rebuilding Help

Owners of Minneapolis and St. Paul, Minn., businesses that were raided and burned during the violent protests over the death of George Floyd are appealing to state lawmakers for help with rebuilding. Several store owners in Minneapolis and St. Paul … from News – Insurance Journal https://ift.tt/3biroUy

Palomar Teams Up with Austin’s Technical Risk Underwriters on Builder’s Risk

Palomar Holdings Inc., a specialty property insurance headquartered in La Jolla, Calif., has forged an agreement with Technical Risk Underwriters (TRU), an Austin, Texas-based subsidiary of Ryan Specialty Group LLC (RSG), to facilitate Palomar’s expansion in the builder’s risk market. … from News – Insurance Journal https://ift.tt/3asD2NA

Newfront Insurance in California Adds AmTrust Surety’s Spruill-Iqbal

San Francisco, Calif.-based Newfront Insurance has named Lindsay Spruill-Iqbal a principal and surety producer. Spruill-Iqbal joins Newfront from AmTrust Surety. Spruill-Iqbal has more than 15 years of marketing and underwriting experience within the surety industry. Newfront is a tech-enabled insurance … from News – Insurance Journal https://ift.tt/3ptBxmA

Berkshire Hathaway Discloses $499M Investment in Marsh & McLennan

Warren Buffett’s Berkshire Hathaway Inc. on Tuesday announced two major new investments, revealing an $8.6 billion stake in the phone company Verizon Communications Inc. and a $4.1 billion stake in oil company Chevron Corp. The investments were disclosed in a … from News – Insurance Journal https://ift.tt/3bemvvU

3 Scenarios for Who Owns the Future of the Insurance Industry

The question is not whether the future of the insurance industry is bright. “Few industries are better positioned for outstanding growth over the next 15 years,” insists Verisk’s Mark Anquillare. Anquillare points to the giant global protection gap between what … from News – Insurance Journal https://ift.tt/3uav5Eo

100 Animals Killed in Fire at Indianapolis Pet Store

An estimated 100 animals died when an overnight fire filled an Indianapolis pet store with thick smoke and deadly gases, fire officials said. It took firefighters about an hour to extinguish the blaze at Uncle Bill’s Pet Center on Monday … from News – Insurance Journal https://ift.tt/3bezGNf

NTSB Will Investigate Deadly 130 Vehicle-Plus Crash in Texas

National Transportation Safety Board said it would investigate a massive crash involving more than 130 vehicles on an icy Texas highway that killed six people and injured dozens more. The NTSB said on Twitter that its safety investigation would focus … from News – Insurance Journal https://ift.tt/37qyoh1

NTIS Transportation Insurance Services in California Moves to Las Vegas

NTIS Transportation Insurance Services has relocated from Laguna Hills, Calif., to Las Vegas, Nev. The California staff will now work remote. The firm has also added new staff and additional truck insurance markets. NTIS is a wholesale broker and program … from News – Insurance Journal https://ift.tt/2M6uNxm

AHT Insurance Partner Schermerhorn Elected as Chairman of TechAssure Association

AHT Insurance, a Baldwin Risk Partner, has announced that Partner Brian Schermerhorn was recently elected as chairman of TechAssure Association Inc., a consortium of independent insurance agents and brokers who focus on technology-related risks and have expertise in technology, life … from News – Insurance Journal https://ift.tt/37jBWl1

New York Attorney General Sues Amazon Over COVID-19 Shortfalls

New York Attorney General Letitia James sued Amazon.com Inc on Tuesday over its handling of worker safety issues around the COVID-19 pandemic at two warehouses, just days after the retailer filed its own lawsuit seeking to block her case. In … from News – Insurance Journal https://ift.tt/3dj1z9C

Spain Prepares Labor Laws that Could Force Food Delivery Apps to Employ Gig Workers

The Spanish government is preparing strict labor law changes that could mean food-delivery platforms have to formally employ the couriers they rely on. Under rules expected to be proposed as soon as this week, companies such as Uber Eats, Deliveroo … from News – Insurance Journal https://ift.tt/3b9u3zU

Corporate Filings Reveal Pay Gap for Female Executives Narrows But Persists

Even women who make it to the top ranks of U.S. corporations face a persistent pay gap compared with men in leadership roles, a new study of corporate filings found. Among companies in the Russell 3000 index, covering most of … from News – Insurance Journal https://ift.tt/37l9PlA

Ex-UniCredit CEO Teams Up with France’s Richest Man to Form SPAC for Financial Deals

PARIS – Former UniCredit boss Jean-Pierre Mustier is teaming up with France’s richest man Bernard Arnault to launch a special purpose acquisition company (SPAC) aimed at European financial deals, as a boom in blank check vehicles spreads from the United … from News – Insurance Journal https://ift.tt/3pnGInW

UK Highlights Rising Political Risk in New Business Guidance on Hong Kong

The UK highlighted increasing political risks in its latest guidance on conducting business in Hong Kong, pointedly dropping references to relations with its former colony as “positive” and “beneficial.” The UK government updated its guidance Tuesday for the business risk … from News – Insurance Journal https://ift.tt/3s1iamj

Swiss Re Corporate Solutions Appoints Neon’s Dougall as Global Head Casualty

Swiss Re Corporate Solutions has appointed Andrew Dougall as global head casualty, effective Feb. 22, 2021. In this leadership role, Dougall will be responsible for driving the success and overall profitability of the Bespoke Casualty portfolio globally. As well as … from News – Insurance Journal https://ift.tt/2N7GUL8

As Metal Prices Rise, Atlanta Sees Theft of Catalytic Converters

Soaring prices for precious metals contained in some auto components is driving a rash of thefts in coastal Georgia. The Brunswick News reports 18 catalytic converters have been stolen from three truck rental companies in Brunswick in recent weeks. Thieves … from News – Insurance Journal https://ift.tt/2NCP91l

Explosion at Florida Sanitation Complex Destroys 5 Garbage Trucks

An explosion and fire destroyed five garbage trucks and damaged two others at a sanitation complex in the Florida Panhandle. The flames erupted Sunday afternoon at the station in Escambia County, Emerald Coast Utilities Authority said in a statement. The … from News – Insurance Journal https://ift.tt/2Nzeh9v

Miami Insurance Agent Arrested in Identity Theft Fraud Scheme

A Miami insurance agent has been arrested for allegedly stealing personal account information to file false insurance applications and collect commissions from the insurance company, according to a statement from the Florida Department of Financial Services. An investigation conducted by … from News – Insurance Journal https://ift.tt/3jXfzHo

$4.5M Settlement Offered in Police Shooting of Alton Sterling in Louisiana

After a $5 million proposed settlement fell through, officials in a Louisiana parish are now offering $4.5 million to settle the civil lawsuit brought by the family of Alton Sterling, a Black man who was killed in 2016 by police … from News – Insurance Journal https://ift.tt/3tZtzoy

Indiana COVID-19 Lawsuit Shield Legislation Sent to Governor

A bill giving Indiana businesses and others broad protections from lawsuits by people blaming them for contracting COVID-19 has been given final approval by state lawmakers. The Republican-dominated state Senate voted 39-7 to send the bill to GOP Gov. Eric … from News – Insurance Journal https://ift.tt/2N3WG9P

Brence Named Shareholder at Swingle Collins & Associates in Dallas

Dallas-based Swingle Collins & Associates has named Collin Brence as the agency’s newest shareholder. Brence is the youngest individual to earn the shareholder title in the agency’s 39 years. He joined Swingle Collins as a commercial producer in 2015 after … from News – Insurance Journal https://ift.tt/3aphukU

AIG Sees ‘Continued Progress’ Despite P/C Underwriting Loss of $171 Million in Q4

American International Group’s property/casualty business booked a $171 million underwriting loss in the 2020 fourth quarter, barely a year after the insurer celebrated the division’s return to profitability. COVID-19 and other catastrophe losses contributed largely to the General Insurance division’s … from News – Insurance Journal https://ift.tt/3u3D7yV

IVANS Survey Finds Agencies and Insurers Seek Greater Connectivity

Both agents and insurers express strong support for agent-insurer connectivity and digital collaboration in distribution and servicing. On agency demand for connectivity, 71% of agencies rank the availability of digital connectivity as the highest priority when selecting an insurer with … from News – Insurance Journal https://ift.tt/3bdqSHt

The Liberty Company Adds Ruggles in California

The Liberty Company Insurance Brokers has added Mark Ruggles. Ruggles will be based in Northern California. He has more than 30 years in the industry with past stops at Brown & Brown, McGriff, and most recently DSS. The Liberty Company … from News – Insurance Journal https://ift.tt/3qrBZmE

Uber Urges EU to Recognize GIG Business Model As UK Court Is Set to Rule

Uber on Monday called on EU regulators to recognize the value of independent contracts in job creation as they consider new rules to protect gig economy workers. The company has been criticized for classifying its drivers as independent contractors rather … from News – Insurance Journal https://ift.tt/3rZzOab

New QBE Custom Property Coverage Form Targets Mid-Size Company Risks

QBE North America has launched a new modular property form designed to give underwriters and brokers the ability to tailor a program for each individual customer. The QBE Custom Property product contains 33 additional coverages, 50 property endorsements, and 22 … from News – Insurance Journal https://ift.tt/2NCqgCU

Monahan Returns to Appalachian Underwriters in Florida as P&C Senior Broker

Appalachian Underwriters, Inc. (AUI) has appointed Kimberly Monahan to its Brokerage Department as a property and casualty broker. Monahan is located in Daytona Beach, Fla., and will be working to cover the Northeast Coast of Florida over to the Panhandle. … from News – Insurance Journal https://ift.tt/2OGIGTH

150 Years of Spills: Philadelphia Refinery Cleanup Reveals Toxic Legacy of Fossil Fuels

Wearing blue hard hats, white hazmat suits and respirator masks, workers carted away bags of debris on a recent morning from a sprawling and now-defunct oil refinery once operated by Philadelphia Energy Solutions (PES). Other laborers ripped asbestos from the … from News – Insurance Journal https://ift.tt/3jXcwPf

Citrus Crop Losses Expected in Texas After Deep Freeze

The historic cold snap that has frozen Texas this week with brutal winter weather and brought snow all the way to beaches along the Gulf of Mexico is also bringing headaches for citrus growers at the southern tip of the … from News – Insurance Journal https://ift.tt/2OzNwlB

Done Deal: Bold Penguin Is Now a Subsidiary of American Family

Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses. The Bold Penguin technology is used by insurance agents, brokers and other distributors to match, quote and bind policies from … from News – Insurance Journal https://ift.tt/3djmwB8

Freeze Slams Texas; Power Could Be Out for Days

The deep freeze that has forced the shutdown of U.S. refineries, oil wells and meat plants, disrupted shipments of soybeans and corn, and is still leaving more than 3 million customers without electricity could continue to keep parts of Texas … from News – Insurance Journal https://ift.tt/3dowxNx

Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits

Waitr Inc. never had the resources of rivals Grubhub Inc. and UberEats. Yet in November 2018 the online food ordering and delivery business went public through a merger with blank-check firm Landcadia Holdings Inc. Landcadia had some powerful names behind … from News – Insurance Journal https://ift.tt/2Zp3Urg

Macif Seen as Favorite to Buy $3.6B Aviva France; Talks to Sell Italian Unit Advance

Aviva Plc, the British insurer, is in advanced talks on a sale of its Italian operations as it pushes ahead with about 6 billion euros ($7.3 billion) of divestments, people with knowledge said. The U.K. company is in negotiations to … from News – Insurance Journal https://ift.tt/3u2Cp55

Most Oregonians Applying for Disaster Aid After 2020 Wildfires Denied

More than 24,000 Oregonians applied for federal disaster assistance after the catastrophic 2020 wildfires and about 57% of them were denied. Jefferson Public Radio reports that nearly 14,000 Oregonians have been denied aid, according to data provided by the Federal … from News – Insurance Journal https://ift.tt/3qrWPlQ

USI Insurance Services Acquires Inland Insurance in Washington

USI Insurance Services has acquired Spokane, Wash.-based Inland Insurance Inc. Terms of the deal were not disclosed. Inland Insurance is an independent risk management and employee benefits agency serving businesses and individuals throughout eastern Washington. Valhalla, N.Y.-based USI is an … from News – Insurance Journal https://ift.tt/3jXiBLU

Progressive to Buy Transportation Insurer Protective for $338 Million

The Progressive Corp. is acquiring Indiana-based trucking industry insurer Protective Insurance Corp. in a move that will increase its stake in the commercial lines insurance market. Progressive has agreed to pay $23.30 per share in cash, for a total transaction … from News – Insurance Journal https://ift.tt/2NaTnO0

Ice Storm Leaves Thousands Without Power in Mid-Atlantic

Ice and freezing rain from a winter storm moving through the mid-Atlantic region knocked down trees and power lines and left tens of thousands of people without power Saturday. Dominion Energy reported some 130,000 customers in Virginia without power Saturday … from News – Insurance Journal https://ift.tt/3apxd3t

With Crashes Down, Massachusetts Lawmakers Want Lower Car Insurance Rates

Lawmakers and the attorney general’s office want a state agency to force car insurance providers to lower rates for Massachusetts customers. The pandemic has kept many drivers off the road, meaning thousands of fewer accidents in 2020 compared with the … from News – Insurance Journal https://ift.tt/3rWiOBC

Core Assurance Partners Names Brandau as President, Russell as Vice President

Core Assurance Partners Inc. has named Zack Brandau as the organization’s president and Will Russell as vice president. Brandau will continue to lead the firm’s daily operations and drive strategic growth initiatives. He is a founding principal of the firm. … from News – Insurance Journal https://ift.tt/37lgLPD

AXA XL Names O’Malley as U.S. Country Manager

AXA XL has appointed Matthew V. O’Malley as U.S. Country manager. In October 2020, AXA XL launched a new operating model which included a new zone structure in the U.S. In the new structure, O’Malley was appointed AXA XL’s East … from News – Insurance Journal https://ift.tt/37j22EZ

Fire at Indian Firecracker Factory Kills at Least 12, Police Report

At least 12 people were killed in a fire at a firecracker factory in the southern Indian state of Tamil Nadu last Friday, police said. Raja Narayanan, a regional police official, said an investigation was under way into what caused … from News – Insurance Journal https://ift.tt/3au9dfH

Zaffino to Succeed Duperreault as CEO of AIG March 1

American International Group (AIG) has officially named Peter S. Zaffino as chief executive officer, succeeding Brian Duperreault, AIG’s current CEO, who will become executive chairman of the board. Both moves are effective March 1, 2021. Duperreault’s move to executive chairman … from News – Insurance Journal https://ift.tt/2N3CRiY

FCA and insurers disagree on how to interpret Supreme Court BI ruling

Regulator says Supreme Court decision gives insurers the clarity they need to conclude their claims processes with most of their BI customers but a few issues still remain as parties make written submissions to the Supreme Court. from Insurer - insuranceage.co.uk https://ift.tt/3quuDii

Brown Reappointed as Texas Workers’ Compensation Commissioner

Cassie Brown has been reappointed by Gov. Greg Abbott as Commissioner of Workers’ Compensation at the Texas Department of Insurance (TDI) for a term set to expire on Feb. 1, 2023. Brown has led the Division of Workers’ Compensation since … from News – Insurance Journal https://ift.tt/3dbW38K

Post-Pandemic: Will Employers or Workers Have Upper Hand?

It’s been a year now since we came under the relentless domination of the coronavirus. After all this time, the picture isn’t pleasant. The end is uncertain and the implications for the future are far from clear. McKinsey reports that … from News – Insurance Journal https://ift.tt/3jUbzXX

California Commissioner Names Morales Diversity Task Force Leader

California Insurance Commissioner Ricardo Lara has named Mark Morales to lead the California Department of Insurance’s Diversity Task Force, the first LGBTQ+ person named to the post. Morales replaces Sal Peinado, Jr. He will lead the first quarterly meeting of … from News – Insurance Journal https://ift.tt/3u1Ym4e

California Mother, Son Arrested for Fraud Involving Aston Martin

Ahmad Haris Tajyar, 45, and his mother, Malalay Tajyar, 70, both of Porter Ranch, Calif., were arrested on one felony count of insurance fraud each after allegedly filing a false auto insurance claim and making fraudulent statements in order to … from News – Insurance Journal https://ift.tt/3anGLvK

Lloyd’s Construction Specialists Say They Are Ready For U.S. Infrastructure Boom

Construction insurance specialists at Lloyd’s of London are hoping to see more U.S. business from increased government investment in infrastructure projects in 2021. That will be welcome after a period of dealing with requests to step in on U.S. construction … from News – Insurance Journal https://ift.tt/2N7X9Yk

Newfront in California Adds Gallagher’s Pedisich

San Francisco, Calif.-based Newfront Insurance has added Nick Pedisich as a principal and commercial insurance broker. He joins Newfront from Gallagher, where he was the area vice president. Prior to that, he had leadership and sales roles at EPIC Insurance … from News – Insurance Journal https://ift.tt/2OCJetH

GM Settles With California Over Ignition Switch Statements for $5.75M

General Motors Co. agreed to a $5.75 million settlement to resolve allegations it made false statements to California’s largest pension system and other investors over its deadly ignition switch recalls. California Attorney General Xavier Becerra said the largest U.S. automaker … from News – Insurance Journal https://ift.tt/3b935Iz

Microsoft Exec Calls SolarWinds Hack ‘Largest, Most Sophisticated Attack’ Ever

A hacking campaign that used a U.S. tech company as a springboard to compromise a raft of U.S. government agencies is “the largest and most sophisticated attack the world has ever seen,” Microsoft Corp. President Brad Smith said. The operation, … from News – Insurance Journal https://ift.tt/3rYGzZP

Former School Bus Employee Arrested in $50K Florida Insurance Fraud Scheme

A former Miami-Dade County school bus driver was arrested for allegedly filing numerous fraudulent insurance claims and collecting approximately $50,000 from the alleged scheme, according to a statement from the Florida Department of Financial Services. This case is part of … from News – Insurance Journal https://ift.tt/2N0FfHb

Ullico Partners, Hagerty Group to Offer Collector & Classic Car Coverage to Union Members

Ullico has partnered with The Hagerty Group, LLC to offer Hagerty’s insurance for classic, collector and enthusiast vehicles. Per the partnership, Hagerty’s insurance will be offered through UnionCare, a Ullico Casualty Group affiliate that markets insurance and other products to … from News – Insurance Journal https://ift.tt/3u0i8gp

Insurors of Tennessee Promotes Layman, Smith

Insurors of Tennessee has promoted Jim Layman to general counsel and appointed Daniel Smith as chief operating officer. The two will continue in their efforts to help grow the association – which represents independent insurance agents across the state. Layman, … from News – Insurance Journal https://ift.tt/3dgOEox

Beazley launches media production contingency suite

The products are designed to protect producers against the risks that can cause films, TV and other forms of programming to be called off or delayed. from Insurer - insuranceage.co.uk https://ift.tt/3rOG7x8

Interview: Willis Insurance and Risk Management

Managing director Richard Willis tells Ida Axling about the broker’s acquisition and growth plans and reveals the thinking behind launching a new MGA offering. from Insurer - insuranceage.co.uk https://ift.tt/3aluI1Z

UK Supreme Court Allows Suit Against Shell by Nigerian Farmers, Fishermen Over Oil Spills

February 14, 2021

The UK Supreme Court on Friday allowed a group of 42,500 Nigerian farmers and fishermen to sue Royal Dutch Shell (RDS) in English courts after years of oil spills in the Niger Delta contaminated land and groundwater. Senior judges said … from News – Insurance Journal https://ift.tt/2Nq9EP1

UK Supreme Court to Rule This Week on Workers’ Rights for Uber Drivers

February 14, 2021

LONDON — Britain’s Supreme Court will announce a decision on Feb. 19 in a case regarding workers’ rights at taxi app Uber that could have ramifications for millions of others earning a living in the gig economy. In a case … from News – Insurance Journal https://ift.tt/3ddoOBS

Montana Governor Signs Virus Lawsuit Liability Shield

Montana Gov. Greg Gianforte signed a bill this week intended to protect businesses and health care providers from coronavirus-related lawsuits. Gianforte said the new law will allow businesses to safely open during the pandemic. He also said enough vulnerable Montana … from News – Insurance Journal https://ift.tt/3aYrReD

Investors Eye Windfall From Denied COVID-19 Insurance Claims

A growing market niche where investors profit from others’ legal troubles is getting a boost from Covid. Distressed-investing funds and litigation-finance boutiques are likely to be spoiled for choice after a landmark U.K. court ruling last month rejected pleas from … from News – Insurance Journal https://ift.tt/3d1wKGm

Germany’s Cabinet Advances Bill to Ban Farmers’ Use of Glyphosate by 2024

Farmers in Germany will have to gradually reduce their use of glyphosate and stop using it completely from 2024 in order to preserve clean habitats for insects, under draft legislation passed by the country’s cabinet on Wednesday. “The exit from … from News – Insurance Journal https://ift.tt/377CydG

Marsh & McLennan Hires Diversity Officer With Experience at Starbucks, NBA

Global insurance and professional services firm Marsh & McLennan Cos. announced that Nzinga Shaw will join the company as chief Inclusion & Diversity officer effective February 16. Shaw most recently served as Starbucks Coffee Co.’s global chief Inclusion & Diversity … from News – Insurance Journal https://ift.tt/3b3qk77

Irish Regulator Presses Insurers to Pay COVID-19 Claims Following Court Ruling

Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the regulator. Ireland’s High Court ruled on Feb. … from News – Insurance Journal https://ift.tt/37727eX

Finnish Insurer Sampo Books Q4 Loss on Banking Group Stake

Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected earnings hit was offset by … from News – Insurance Journal https://ift.tt/3rMwhvF

Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims

Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings. Insurers have faced hefty claims from event cancellations and … from News – Insurance Journal https://ift.tt/3aYfVt5

Bond Insurer MBIA Agrees to Settle Mortgage Claims Against Credit Suiss

New York-based municipal bond insurer MBIA Inc.’s unit MBIA Insurance Corp. entered an agreement to settle a litigation it filed in 2009 against lender Credit Suisse and certain affiliated entities over property debt in the United States. The settlement followed … from News – Insurance Journal https://ift.tt/3afnJrn

New York Woman Arrested for Fraudulently Obtaining More Than $200K of iPhones

A Bronx, New York, woman has been arrested and charged with fraudulently obtaining more than $200,000 worth of iPhones, Acting U.S. Attorney Rachael A. Honig announced. Rosanna Lucrecia Cruel Blanco, 39, was charged by criminal complaint with one count of … from News – Insurance Journal https://ift.tt/3jGPnAC

Baltimore County School Board to Address Ransomware Attack

The Baltimore County Board of Education has approved more than $1.7 million in contracts for services that were necessary after a ransomware attack on school systems in November. Administrators told board members that they expect the school system’s cyber insurance … from News – Insurance Journal https://ift.tt/2NlPyp3

Florida Consumers ‘Flabbergasted’ by Property Insurance Rate Hikes

Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to award them big fees. The … from News – Insurance Journal https://ift.tt/3tRJQMl

Amazon Sues New York Over COVID Workplace Safety, Firing Lawsuit

Amazon.com Inc. on Friday sued New York’s attorney general to stop the state from taking legal action over its early COVID-19 response, including its firing of activist Christian Smalls. The retailer drew scrutiny 10 months ago when workers protested conditions … from News – Insurance Journal https://ift.tt/2Za6TDR

Blog: No end in sight to current lockdown adds to the stress for SMEs

Aviva’s Dave Carey discusses pandemic-related challenges for SMEs and what brokers and insurers can do to help. from Insurer - insuranceage.co.uk https://ift.tt/3jFWxVU

IPT-threat level raised

The “soft target” tax is under threat amid economic uncertainty but the sector is still arguing for a cut or a freeze. from Insurer - insuranceage.co.uk https://ift.tt/3ac2aI8

Lawmakers Vote to Extend Georgia COVID Lawsuit Shield by One Year

The Georgia state House has voted in favor of extending by one year a law that protects businesses from being sued by a person that blames them for contracting COVID-19. The protection is currently set to expire on July 14. … from News – Insurance Journal https://ift.tt/2OzAYeh

Cody Appointed President of Orchid Insurance

Kathy Cody has been appointed president of Orchid Underwriters Agency, LLC (Orchid Insurance), a specialty underwriter of catastrophe-exposed property insurance. Brad Emmons, chief executive officer at Orchid, said Cody, who joined Orchid Insurance in 2019 as chief operating officer, has … from News – Insurance Journal https://ift.tt/2MYRMe3

Parkland Parents Lose Bid to Hold District Liable for Not Warning of Student Danger

A Florida judge has ruled that a local school district had no responsibility to warn students and faculty at Marjory Stoneman Douglas High School of the danger posed by a former student who would later be accused of a mass … from News – Insurance Journal https://ift.tt/378UTXF

Kotch Joins Core Specialty Insurance in Ohio as Chief Information Officer

Core Specialty Insurance Holdings Inc. (Core Specialty), based in Cincinnati, Ohio, has appointed Mary Kotch as chief information officer and member of the company’s executive committee. Kotch has more than 20 years’ experience in strategic technology innovation, application shared services, … from News – Insurance Journal https://ift.tt/3ab0EWD

Robles Joins XPT Partners in Texas as VP, Senior Transportation Broker

XPT Partners, a national specialty insurance distribution company, has added excess transportation expert Alex Robles as vice president and senior broker in its Plano, Texas, office. Robles will concentrate on excess transportation brokerage while also contributing to XPT’s National Transportation … from News – Insurance Journal https://ift.tt/374xXbW

EU Experts Hit Roadblock in Trying to Resolve Tech, Carmakers’ Patent Dispute

European Union efforts to resolve a patent dispute between tech companies and carmakers have hit a roadblock after experts enlisted for advice failed to agree on the level of royalties or who should pay them. Tech firm Nokia and automaker … from News – Insurance Journal https://ift.tt/3rP9iQy

CIG in California Names Cummins Assistant Vice President, Hepner Regional Field Executive

Monterey, Calif.-based Capital Insurance Group has promoted Scott Cummins to assistant vice president in personal lines, and Pauleen Hepner to regional field executive. Cummins will oversee personal lines underwriting, product, and processing, as well as client services for all states … from News – Insurance Journal https://ift.tt/3adf1dh

South Dakota’s Noem Plans to Stall Legalization of Medical Pot

South Dakota Gov. Kristi Noem promised she will honor the will of voters to legalize pot for medical use, just not this year. The Republican governor announced a plan to delay legalization of medical marijuana until July 1, 2022, saying … from News – Insurance Journal https://ift.tt/2MPW2g4

Wisconsin Gov. Proposes Legalized Marijuana — Recreational and Medical

Wisconsin Gov. Tony Evers has proposed legalizing marijuana and regulating and taxing it like the state does alcohol. Evers made the proposal in his 2021-23 biennial budget, which estimates that legal marijuana would generate more than $165 million annually beginning … from News – Insurance Journal https://ift.tt/2Z69bnH

Preliminary Report Finds Throttle Problem in Sriwijaya Air Jet That Crashed

JAKARTA —The Sriwijaya Air plane that crashed last month killing 62 people had an imbalance in engine thrust that eventually led the plane into a sharp roll and then a final dive into the sea, a preliminary report by investigators … from News – Insurance Journal https://ift.tt/3aa49g8

Pittsburgh Building at Least 141 Years Old to be Demolished After Fire

Authorities say a multistory building on Pittsburgh’s South Side built at least 141 years ago will be demolished on safety grounds after a massive fire and partial collapse. “After a partial collapse, the structure is considered structurally unsound,” Pittsburgh Public … from News – Insurance Journal https://ift.tt/2Z86ORe

Another Winter Storm Brings More Snowfall to Northeast

Another winter storm brought additional snowfall to the Northeastern U.S. on Tuesday on top of a major snowstorm that hit the region Sunday. The snow totals are expected to be far less than the storm that pushed through the region … from News – Insurance Journal https://ift.tt/3p8u63T

German Court Says EY Auditors Must Testify Before Parliamentary Panel About Wirecard

Two Ernst & Young auditors were told by a German court that they must testify before a parliamentary committee about their accounting work for scandal-ridden Wirecard AG. The ruling gives EY clarity about how much information it may disclose under … from News – Insurance Journal https://ift.tt/2Z6proz

Zurich UK reports 75% fall in GI operating profit for 2020

Combined operating ratio for the UK business deteriorated to 97.8%, but GWP was up by 11%. from Insurer - insuranceage.co.uk https://ift.tt/3d8RwE9

A Snowstorm that Cost Nearly $2.2B and Other January Natural Catastrophes: Aon

A snowstorm in Spain, called “Filomena,” caused business interruption and property losses estimated at nearly €1.8 billion ($2.2 billion), according to Aon’s monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during … from News – Insurance Journal https://ift.tt/3742erx

Aqueous unveils lockdown unoccupancy cover for retail and hospitality clients

MGA says cover will be triggered automatically in the event of a new lockdown of any duration, without the need for the broker to request it. from Insurer - insuranceage.co.uk https://ift.tt/3aa8iRj

Inperio teams up with Thirdfort on solicitors' PI solution

New offering, which is distributed via brokers, will see Inperio offer reduced premiums for firms using Thirdfort's digital ID platform, with the aim to cut the risk of identity fraud. from Insurer - insuranceage.co.uk https://ift.tt/3jFX3Dh

Neil Robertson set for Canopius CEO role

Robertson joins from Axa XL as group deputy CEO and will become group CEO after a transition period, taking over from Michael Watson who will continue as chairman. from Insurer - insuranceage.co.uk https://ift.tt/2Z5S6Kr

People Moves: 8 - 12 February 2021

The latest personnel changes in the insurance space. from Insurer - insuranceage.co.uk https://ift.tt/3cYsTtD

Kin Insurance Launches Landlord Insurance in Florida Market

Kin, an insurance technology company, has launched its landlord insurance plans in the Florida market. Kin’s landlord insurance applies to property owners who rent out their detached homes and townhouses. It also covers investors who rent properties on Airbnb. This … from News – Insurance Journal https://ift.tt/3jDVHJ6

Allianz Makes Personnel Changes to Georgia-Based Aviation Team

Allianz Global Corporate & Specialty’s (AGCS) North American Aviation team has promoted two executives and hired a new underwriting specialist, effective immediately. Lamont Rosemond has been promoted to regional head of Aviation Programs and Product Development in North America. He … from News – Insurance Journal https://ift.tt/36Zeolq

Head of South Carolina Workers’ Comp Fund Ousted Over Deal with Husband’s Firm

South Carolina Gov. Henry McMaster on Monday removed the head of the State Accident Fund, calling for an investigation into whether she improperly steered a $600,000 government contract to her husband’s company. In a letter, McMaster asked State Inspector General … from News – Insurance Journal https://ift.tt/3rGXPTd

Lockton Adds Lopez to Northern California Construction Practice

Lockton Pacific has added Cynthia Lopez to its construction practice in Northern California. Lopez is based in Lockton’s Sacramento office. Lopez’s expertise includes more than two decades in the insurance industry with brokerages including AON Construction Services Group, Arthur J. … from News – Insurance Journal https://ift.tt/3aXWoJg

Biden Reverses Trump Stand at Supreme Court in Republican Bid to End Obamacare

President Joe Biden’s administration on Wednesday told the U.S. Supreme Court that the Obamacare healthcare law should be upheld, reversing the position taken by the government under his Republican predecessor Donald Trump. The court in November held oral arguments in … from News – Insurance Journal https://ift.tt/3jDNyV2

Bender in California Names Murray Technology Risk Advisor

Bender Insurance Solutions in Sacramento, Calif., has named Bryan Murray a technology risk advisor in the commercial lines department. He will provide risk management advice and education for technology businesses across California. He has 10 years of experience in the … from News – Insurance Journal https://ift.tt/374UAgF

Weinstein Co. Bankruptcy Faces Appeal by 4 of His Sexual Misconduct Accusers

Four women who have accused disgraced film mogul Harvey Weinstein of sexual misconduct are appealing a Delaware judge’s approval of the Weinstein Co.’s bankruptcy plan. Attorneys filed the appeal in U.S. District Court in Delaware on Tuesday on behalf of … from News – Insurance Journal https://ift.tt/2Z2l11Y

Judge Questions Why Facebook May Have Overpaid in Data Privacy Settlement

Facebook Inc. may have paid $4.9 billion more than the maximum penalty it faced under a settlement agreement with regulators related to allegations it mishandled user privacy, according to a Wednesday court ruling. The information made public by a Delaware … from News – Insurance Journal https://ift.tt/3aTX2rl

Opt-In Data Privacy Legislation Moves Forward in Oklahoma

Bipartisan legislation to address concerns over data privacy and data manipulation unanimously passed out of the Oklahoma House Technology Committee with a vote of 6 to 0. The Oklahoma Computer Data Privacy Act, House Bill 1602, requires internet technology companies … from News – Insurance Journal https://ift.tt/3rH1oZz

Minneapolis Diner Owners Seek $4.5M Suit over Property Damaged in Protests

The owners of a Minneapolis restaurant have filed the first lawsuit against the city over property damage caused by the civil unrest following the police killing of George Floyd. A federal lawsuit filed by owners of the Town Talk Diner … from News – Insurance Journal https://ift.tt/2Z8CBkM

Texas Woman Faces Charges After Dog Attacks 3-Year-Old Girl

The owner of a dog that attacked a 3-year-old girl at a suburban Houston restaurant in January has been charged with injury to a child and tampering with evidence. Jennifer Romano, 46, has been charged in the Jan. 9 attack … from News – Insurance Journal https://ift.tt/3q9GstZ

Arsonist Charged in Texas Courthouse Fire Suspected in Additional Blaze

The suspect in a fire that destroyed all but the outer rock walls of a 111-year-old Texas courthouse is being held on arson charges, authorities say. Nicholas Miller, who remained jailed on Feb. 9, was arrested on Feb. 5 after … from News – Insurance Journal https://ift.tt/2NhbLUY

Indiana Company Fined $14K Following Death of 3 Workers in Manhole

State regulators have fined an excavating company $14,400 for workplace safety violations discovered after three workers, including a father and son, died in August while working on a northeastern Indiana sewer project. The Indiana Occupational Safety and Health Administration imposed … from News – Insurance Journal https://ift.tt/2MXyrtD

Environmental Settlement of $212K Reached with Washington Chemical Company

The U.S. Environmental Protection Agency has reached a settlement with Emerald Kalama Chemical after inspectors say they found hazardous waste storage and handling violations it its Kalama, Wash., facility. The chemical company has agreed modify its practice and pay a … from News – Insurance Journal https://ift.tt/3p9LncS

Intel Suing Oregon Engineer Who Joined Microsoft Over Trade Secrets

Intel is suing a former Oregon employee, alleging he took trade secrets when he left for Microsoft and used the information to gain an advantage in later business negotiations with Intel. Engineer Varun Gupta worked at Intel for ten years … from News – Insurance Journal https://ift.tt/3rIhu5s

Firefighters Battle Blaze, Partial Building Collapse in Pittsburgh

Fire and a partial collapse has demolished at least part of a multistory building on Pittsburgh’s South Side built at least 141 years ago. Fire crews fought for hours to contain the blaze reported at about 2:30 p.m. that sent … from News – Insurance Journal https://ift.tt/3qaplYS

Aviva expands broker apprenticeship programme

The provider is offering a job swap or placement to participants in the programme. from Insurer - insuranceage.co.uk https://ift.tt/2Z6CTsu

Climate, AI, Privacy, Racial Bias Among State Insurance Regulators’ 2021 Priorities

The country’s insurance regulators are vowing to prioritize the monitoring of the use of consumer and non-consumer data by companies, the use of artificial intelligence, and the availability and affordability of insurance products for racial minorities. They say they will … from News – Insurance Journal https://ift.tt/3cZjn9J

Mother of Virginia Police Informant Seeks $13M in Lawsuit

The mother of a dead Virginia police informant is alleging in a pair of lawsuits that authorities are responsible for her son’s fatal overdose on opiates that he was coerced to purchase while undercover. Donna Watson, the administrator of Troy … from News – Insurance Journal https://ift.tt/3rFfomO

Boston Hospital Valet Shot in Eye Sues His Employer

A valet at a Boston hospital who was shot in the eye by police as officers confronted a man armed with what they thought was a real gun has sued his employer, saying the hospital’s security staff mishandled this situation. … from News – Insurance Journal https://ift.tt/3tE5Qdo

AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO

Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay debt. The Winnipeg, Manitoba based … from News – Insurance Journal https://ift.tt/3cWyXCU

Some Baby Foods Found to Contain High Levels of Toxic Heavy Metals

U.S. congressional investigators found “dangerous levels of toxic heavy metals” in certain baby foods that could cause neurological damage, a House Oversight subcommittee said in a report released on Thursday in calling for new standards and testing requirements. The panel … from News – Insurance Journal https://ift.tt/36WQgjm

UK Broker Specialist Risk Group Buys Trade Credit Specialist, The Channel Partnership

Specialist Risk Group (SRG), a London-based specialist insurance broker, has announced the acquisition of a UK trade credit specialist, The Channel Partnership. Financial details of the deal were not disclosed. The Channel Partnership, founded in 1992, provides clients with expert … from News – Insurance Journal https://ift.tt/3p6ZwYC

Chubb Global Markets Creates New Energy Underwriting Team

Chubb announced the creation of a new energy team in Chubb Global Markets (CGM) that will underwrite and serve as a center of excellence for all large corporate energy customers in EMEA, Asia Pacific and Latin America. CGM comprises Chubb’s … from News – Insurance Journal https://ift.tt/2Nbsd9l

Intact's RSA takeover "on track" to complete in Q2 2021

RSA shareholders voted to approve the deal last month. from Insurer - insuranceage.co.uk https://ift.tt/3cZyXSw

Facebook Faces 2nd UK Class Action Lawsuit over Data Harvesting Scandal

Facebook is facing a second London High Court class action over allegations it failed to protect the personal details of about one million people in England and Wales, in the latest lawsuit to spring from a scandal over data harvesting. … from News – Insurance Journal https://ift.tt/3jA5nEx

Construction of Controversial UK Coal Mine Now Under Review After Climate Backlash

Construction of a coal mine that threatened UK Prime Minister Boris Johnson’s claim to be a world leader in the fight against climate change is under review after growing opposition. The Woodhouse Colliery would be the first new deep coal … from News – Insurance Journal https://ift.tt/3tJcJu6

Brazilians Bring Lawsuit Against Norsk Hydro over Alleged Pollution

Some 40,000 Brazilians are bringing a group-action lawsuit in the Netherlands against Norwegian aluminum producer Norsk Hydro over alleged toxic waste pollution in northern Brazil. The lawsuit has been brought by a group of communities who live in the lower … from News – Insurance Journal https://ift.tt/3cZpNp6

Fossil Fuel Pollution Kills 8.7 Million People Annually Across the Globe: Research

Efforts to slow the process of global warming focus on the future harms of continuing to burn fossil fuel, but new research released Tuesday shows that deadly consequences from pollution are killing larger numbers of people right now than had … from News – Insurance Journal https://ift.tt/2Oq6kUv

Hacker Breaches Florida Treatment Plant Software, Tries to Taint Water

A hacker gained unauthorized entry into a remote access software system shared by workers at a Florida city’s water treatment plant in an unsuccessful attempt to fill the water supply with a potentially harmful chemical, authorities said. An unknown suspect … from News – Insurance Journal https://ift.tt/3qdplaQ

Federal Judge Sides with Chubb in Denial of Target’s Data Breach Bank Claims

Target Corp. has been denied its $138 million insurance claim against ACE (now Chubb) Insurance companies stemming from a 2013 data breach. A federal judge in Minnesota ruled the retailer had failed to prove that its reimbursement to banks for … from News – Insurance Journal https://ift.tt/2LAduUY

Insurers Overwhelmed by Demand for D&O Coverage for Blank Check Companies

The SPAC boom is overwhelming a key player in the creation of a blank-check companies: insurers. Firms selling directors-and-officers liability policies for special purpose acquisition companies have been flooded by the listings that surged last year. That’s caused insurers to … from News – Insurance Journal https://ift.tt/3jBQfGL

Arthur J. Gallagher & Co. Acquires Air-Sur of Florida

Arthur J. Gallagher & Co. has acquired Ormond Beach, Fla.-based Air-Sur, Inc. Terms of the transaction were not disclosed. Founded in 1976, Air-Sur is a retail insurance broker serving clients in the aviation and aerospace industry. Its clients include air … from News – Insurance Journal https://ift.tt/3q6iCiR

ShoreOne Rolls Out Combined Homeowners, Flood Policy in South Carolina

Massachusetts-based managing general agent ShoreOne created a new coverage for coastal homeowners to address inadequate flood coverage. ShoreOne’s new offering combines traditional homeowners insurance with full flood coverage in a single policy. Access to the combined policy fills the coverage … from News – Insurance Journal https://ift.tt/3a3BkBR

South Dakota Judge Rejects Amendment Legalizing Recreational Pot

A South Dakota judge on Feb. 8 struck down a voter-approved constitutional amendment that legalized recreational marijuana after Gov. Kristi Noem’s administration challenged it. Circuit Judge Christina Klinger ruled the measure approved by voters in November violated the state’s requirement … from News – Insurance Journal https://ift.tt/3aIRCiE

With Spike in Traffic Deaths, Minnesota Ramps Up Speed Enforcement

Minnesota transportation and public safety officials have launched a traffic enforcement crackdown and awareness campaign amid a spike in deaths related to speeding during the coronavirus pandemic. Public safety, transportation and health officials gathered for a news conference to announce … from News – Insurance Journal https://ift.tt/2Od2hKX

Remote Workers Heading to Wyoming Amid Pandemic

Ty Lunsford left Casper in 1998 – seeking, as he says, “bright lights, big city.” He was raised here, and moved out of his parents’ house to go chase the action in Denver. In November, after his job at a … from News – Insurance Journal https://ift.tt/3cVDTaZ

Rate Hikes Boost CNA in Q4

CNA Financial Corp. benefited significantly from rate hikes and premium growth in Q4, reporting more than $387 million in net income versus $273 million the year before. Net income per share during the quarter reached $1.42 per diluted share for … from News – Insurance Journal https://ift.tt/3tK191A

New Mexico Lawmakers Propose Cap on Damages in Police Accountability Bill

A bill that would strip police officers of immunity from civil rights lawsuits in state court is being rewritten to cap potential damage awards at $2 million, in a concession to critics who warned of dire financial consequences for local … from News – Insurance Journal https://ift.tt/3a56Kbb

Metromile to Begin New Life as Public Company as Reverse Merger Closes Today

Digital pay-per-mile auto insurer Metromile will officially become a public company tomorrow as the deal to be merged with a special purpose acquisition company (SPAC) is expected to close today. INSU Acquisition Corp., a publicly traded SPAC, announced that its … from News – Insurance Journal https://ift.tt/3rAzhuZ

Second Major Snowstorm in a Week Blankets Northeast

A major snowstorm pushed through the Northeastern United States on Sunday, less than a week after a storm dumped more than two feet on parts of the region. By early evening, snow totals had reached 8 to 11 inches from … from News – Insurance Journal https://ift.tt/3a4eYAd

Vermont Police Say Snowmobile Fire Ignites Covered Bridge

A fire that started in a snowmobile spread to a 111-year-old covered bridge, collapsing the structure into the Missisquoi River in the town of Troy, police said. The fire was reported around 11 a.m. Saturday after a group of snowmobilers … from News – Insurance Journal https://ift.tt/3cVjT8t

New York Man Pleads Guilty to Insurance Fraud Following Hit-and-Run Accident

A New York man has pleaded guilty to insurance fraud after being involved in a hit-and-run incident with a parked car in Hoboken, New Jersey. On Wednesday, February 3, 2021, Richard Hamedl of West New York pleaded guilty to one … from News – Insurance Journal https://ift.tt/2NahLim

P/C Insurers’ Net Income for 9 Months Fell 27% on Effects of Catastrophes

In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the industry dealt with the … from News – Insurance Journal https://ift.tt/3tKsgdg

Learning Technologies Group Buys Diversity & Inclusion Specialist PDT Global in UK

Learning Technologies Group plc (LTG), the London-based provider of services and software for digital learning and talent management, has acquired PDT Global, a leading provider of online diversity and inclusion solutions. PDT (The People Development Team) Global is a diversity … from News – Insurance Journal https://ift.tt/3p38UMN

Polish Game Maker CD Projek Hit by Cyber Attack

CD Projekt has been hit by a cyber attack, which compromised some of its internal systems including the source code to its flagship Cyberpunk 2077 game, dealing another blow for the Polish video game maker. “An unidentified actor gained unauthorized … from News – Insurance Journal https://ift.tt/36YNSIT

Third Point Re Hires 3 Senior Leaders Ahead of Anticipated Merger with Sirius

Third Point Reinsurance Ltd., a Bermuda-based specialty reinsurer, announced it has made three senior hires to strengthen its existing leadership team, ahead of the company’s anticipated merger transaction with Sirius International Insurance Group Ltd., to form SiriusPoint Ltd. Tim Mardon … from News – Insurance Journal https://ift.tt/3d3dc4a

Rescuers Search for Workers Trapped at Hydropower Site in Flood-Hit North India

Rescue workers continue to battle mountains of slush and debris at a hydropower construction site in north India that was damaged by flash floods that have killed at least 11 people. The rescue team of Indo-Tibetan Border Police is working … from News – Insurance Journal https://ift.tt/2OcValK

N. Zealand Stock Exchange Cyber Attack also Targeted Insurers, Banks, Financial Firms

More than 100 banks, exchanges, insurers and other financial firms worldwide were targets of the same type of cyber attack that crippled the New Zealand Stock Exchange in August, though they didn’t suffer the same extent of damage. Most companies … from News – Insurance Journal https://ift.tt/3juvr3Y

Fischer Appointed President of Core Specialty’s Ag Reinsurance Division

Cincinnati, Ohio-based Core Specialty Insurance Holdings Inc. and its subsidiaries (Core Specialty) hired William (Bill) R. Fischer to lead its newly formed Agriculture Reinsurance Division. Fischer is a 25-year veteran of the crop reinsurance business and is well-respected as a … from News – Insurance Journal https://ift.tt/3aR7Ar6

Caldwell, Mowbray Named to Leadership Posts at Louisiana Insurance Dept.

James “David” Caldwell, Jr. has been appointed executive counsel and Rebecca Mowbray has been named deputy commissioner of Public Affairs at the Louisiana Department of Insurance Caldwell served as deputy director of the Criminal Division of the Louisiana Department of … from News – Insurance Journal https://ift.tt/3cP37Ie

NFP Acquires Michigan’s Colburn Risk Holdings

Insurance broker and consultant NFP acquired Michigan-based property/casualty insurance broker Colburn Risk Holdings LLC (ColburnColburn) in a transaction that closed Dec. 31, 2020. ColburnColburn, with offices in Bloomfield Hills and Detroit, Michigan, provides commercial insurance, risk management, personal insurance and … from News – Insurance Journal https://ift.tt/3q5jAeW

It Could Have Been Worse. An Update on COVID-19 Impact on Workers’ Compensation.

While it obviously presented challenges, 2020 is looking like it may not have been such a bad year for workers’ compensation insurers and insureds after all. Insurers took in less premium but paid fewer claims. They managed to one of … from News – Insurance Journal https://ift.tt/3a70EqZ

WCF Insurance in Utah Names Lyon President

The WCF Insurance board of directors has named Matt Lyon president of the Utah-based firm. Lyon will retain his position as chief operating officer in addition to his new role as president. Ray Pickup will remain chief executive officer. Lyon … from News – Insurance Journal https://ift.tt/3cS9Ukf

Lamb Insurance Services Adds Penley as Director of Sales for the Carolinas

Lamb Insurance Services (Lamb) has appointed Doug Penley as the director of Sales. Penley is responsible for all aspects of sales and distribution strategies and leading a team of client executives in the Carolinas, which is an expansion market for … from News – Insurance Journal https://ift.tt/3a2fCOH

New Cowbell Cyber Partner Program Connects Insureds with Risk Management Services

Cowbell Cyber, an AI-powered cyber insurance provider for small to mid-sized businesses (SMBs), has launched Cowbell Connect, its partner program which offers policyholders with risk management services to address and mitigate cyber incidents. Cowbell Connect is part of Cowbell’s closed-loop … from News – Insurance Journal https://ift.tt/39ZQAjm

Cannon Used at Michigan Baby Shower Explodes, Killing Man

A 26-year-old Michigan man was killed when a cannon exploded during a baby shower, according to Gaines Township authorities. A small cannon device that was fired in the backyard of a home by the homeowner blew up, spraying metal shrapnel … from News – Insurance Journal https://ift.tt/3cTw1qt

Climate Models Are Not Designed for Use by Financial Markets, Scientists Warn

Misuse of climate models could pose a growing risk to financial markets by giving investors a false sense of certainty over how the physical impacts of climate change will play out, according to the authors of a paper published on … from News – Insurance Journal https://ift.tt/39XU9Xb

Broker Robinhood Sued by Parents Over Trader Son’s Suicide

The family of a 20-year-old stock trader who committed suicide sued the broker Robinhood for his death, citing its “misleading communications” that caused their son to panic over what he wrongly believed were huge market losses, according to a lawsuit. … from News – Insurance Journal https://ift.tt/3b1Bdq3

Biden Approves Disaster Declaration for Maryland Related to Tropical Storm

President Joe Biden approved a disaster declaration for Maryland and ordered federal assistance for recovery effort in areas affected by Tropical Storm Isaias in August. Federal funding will be available to state and local governments and certain private nonprofit organizations … from News – Insurance Journal https://ift.tt/3q129wg

Berkley Service Professionals Names Rea as Executive Vice President

Berkley Service Professionals, a division of Berkley company Berkley Alliance Managers, has named Tom Rea as executive vice president. Rea is a licensed insurance agent and surplus lines broker in the state of Connecticut. In this role, he is responsible … from News – Insurance Journal https://ift.tt/3cTrGDY

Judge Orders Release of New York Data on Long-Term Care Deaths

A state judge ordered New York’s Department of Health to release records about nursing home residents who died of COVID-19 in a ruling that said the agency’s failure to do so already was a “violation” of New York’s open government … from News – Insurance Journal https://ift.tt/3jx2yUS

Lloyd’s Launches Global Platform to Drive Resilience to World’s Systemic Risks