Insurance Wiki How

A Ohio manufacturer of power distribution products has been cited for 11 serious workplace safety violations and faces $119,000 in penalties, federal workplace safety officials said. In response to a January 2021 complaint, the Occupational Safety and Health Administration investigated … from News – Insurance Journal https://ift.tt/3rGpKT5

K2 Insurance Services Acquires Montana’s Loss Run Pro

K2 Insurance Services, based in San Diego, Calif., has invested in Loss Run Pro LLC, headquartered in Missoula, Montana. LRP, founded in early 2020 by Reghan Brandt, was a participant in BrokerTech Ventures’ (BTV) 2020 Accelerator. LRP is a subscription … from News – Insurance Journal https://ift.tt/2PJkLDG

Midwest People Moves: The Horton Group; Ohio Mutual; MJ Insurance; Lockton

The Horton Group The Horton Group in Chicago has hired Casey Warnecke as chief growth officer. Warnecke will be responsible for maximizing efforts around new business growth and the retention of existing clients, recruiting top talent, and implementing a strong … from News – Insurance Journal https://ift.tt/2PsHN1L

NTSB: Speed an Issue in 2019 Houston Ship Channel Crash

Federal transportation safety officials say one of the vessels involved in the 2019 Houston Ship Channel collision that resulted in the release of more than 11,000 barrels of petrochemicals into Galveston Bay was going too fast. The National Transportation Safety … from News – Insurance Journal https://ift.tt/3wgD97J

Union Cheers as Court Halts Trump Hog Slaughter Line Speed Rule

The largest U.S. meatpacking union celebrated a victory in federal court on Wednesday that it said invalidated a Trump-era rule allowing hog slaughter plants to run without line speed limits. A lawsuit brought against the U.S. Department of Agriculture (USDA) … from News – Insurance Journal https://ift.tt/3mbMfOE

Alaska Could See ‘California Style’ Blackouts in Face of Climate Change

Alaska could face “California-style” blackouts as climate change increases the state’s wildfire risk. That’s according to an article this week in the Anchorage Daily News. The article centers on Alaska’s record-breaking 2019 wildfire season and the McKinley Fire, believed to … from News – Insurance Journal https://ift.tt/3cBE62G

Champion Risk in California Names Neal Director of Operations, Peretz Marketing & Communications Director

San Diego, Calif.-based Champion Risk & Insurance Services has hired Kristy Neal as director of operations and Rachel Peretz to lead thee marketing and communications department Neal is charged with making the agency more efficient, and building momentum for growth … from News – Insurance Journal https://ift.tt/3cHynIO

SPAC Mania Anxiety Grows; Bankers, Regulators, Insurers Try to Keep Pace

Anxiety is growing that the wellspring of special-purpose acquisition companies, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington. The pipeline of SPACs rushing to market is … from News – Insurance Journal https://ift.tt/2PN2uFq

‘Not Over Yet,’ But Crews Gaining Control of South Dakota Wildfires

Firefighters have begun to gain control of wildfires in the Black Hills of South Dakota that have forced the evacuation of more than 400 homes and closed the Mount Rushmore National Memorial. Three separate wildfires were burning near Rapid City, … from News – Insurance Journal https://ift.tt/3ue6a2e

Mother of Black Student Seeking Damages Against California School for Racist Rant

The mother of a Black 12-year-old boy is seeking damages against a Southern California school district after her son’s teacher went on a half-hour tirade laced with racism and profanity. Katura Stokes filed a damage claim, typically a precursor to … from News – Insurance Journal https://ift.tt/39xMcrf

Lawmakers from California Want U.S. Departments to Be Year-Round Wildfire Agencies

California’s U.S. senators and nearly two-dozen representatives are asking the Agriculture and Interior departments to transition their agencies to a year-round wildland workforce because blazes are no longer limited to traditional fire seasons. The move would require reclassifying more seasonal … from News – Insurance Journal https://ift.tt/3czz46J

Q Underwriting extends Aviva capacity in £200m deal

The specialist underwriter confirmed the renewal of key binder Aviva, plus, developments to its Covéa-backed contractors combined product. from Insurer - insuranceage.co.uk https://ift.tt/3wcb8y6

Distracted Driving Behaviors Increased During Pandemic. Are Bosses to Blame?

One in four drivers thinks that roads are safer today than they were before the pandemic, yet a growing number of drivers are texting or emailing while driving– in part as more of them feel pressured to be available for … from News – Insurance Journal https://ift.tt/3cD94Yh

Supreme Court Could Use TransUnion ‘Terrorist List’ Case to Curb Class Actions

The U.S. Supreme Court on Tuesday signaled it could narrow the scope of a class action lawsuit against TransUnion in which thousands of people sought damages after the credit reporting company flagged their names as matching those on a government … from News – Insurance Journal https://ift.tt/3rF6uFc

Hong Kong Developing SPAC Framework – But Lack of D&O Insurance Could Be Issue

Hong Kong is expected to have its own blank check company listing framework ready in June for public feedback and targets allowing deals to start by the end of this year, according to people familiar with the matter. The city … from News – Insurance Journal https://ift.tt/3fBNpRU

Tech Firms Under More Scrutiny and Unhappy with Their D&O Insurance

With premiums rising and carriers narrowing their terms and conditions, technology companies’ satisfaction with their directors and officers (D&O) liability insurance has plummeted in 2021. Insurance broker Marsh found in a new study that only about 45 percent of customers … from News – Insurance Journal https://ift.tt/3m7T5Ex

It’s Time to Rewrite The Rules That Make U.S. Roads So Deadly: Viewpoint

A 25-year-old Yale Law student. A crossing guard. A 78-year-old woman. A high-school teacher. These are but four of the pedestrians and bikers counted among the 310 motor-vehicle-related deaths seen in 2020 in Connecticut, where I live. Our state saw … from News – Insurance Journal https://ift.tt/2QUV3Nd

Insurance Industry Stepping Up as Cyber Risks Mount for High-Net-Worth

Cyber attacks can strike any individual or business at any time, but on this episode of the Insuring Cyber Podcast, Insurance Journal’s Elizabeth Blosfield spoke with two guests about one particular segment of the population that can prove to be … from News – Insurance Journal https://ift.tt/2QOxnK9

Axa branches to move to mid-market focus

Jon Walker explains how the regional network will develop as some offices are set to become specialist call centres. from Insurer - insuranceage.co.uk https://ift.tt/3u8LoRl

Lloyd’s Expects Large Loss from Suez Canal Blockage

The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 … from News – Insurance Journal https://ift.tt/39uXLPK

Formal Investigations Begin into How Container Ship Ran Around in Suez Canal

ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters. Suez … from News – Insurance Journal https://ift.tt/2PKgM9M

Severe Thunderstorms Roar Through New Jersey; Thousands Lose Power

Severe thunderstorms that roared through New Jersey left thousands without power and brought down dozens of trees that damaged homes and businesses, but no injuries were reported. The storms hit the state shortly after dusk on Sunday and continued for … from News – Insurance Journal https://ift.tt/31yNDkL

Vermont State Agency Offers to Assist Residents After Rare Tornado

State officials in Vermont say they’re ready to assist residents with insurance claims as they cleanup and rebuild following Friday’s tornado, which injured at least two people. The state Department of Financial Regulation said Saturday that residents who experienced property … from News – Insurance Journal https://ift.tt/2OcWZj8

Brown Thayer Shedd Insurance Agency Rebrands as Cross Private Client Insurance

Brown Thayer Shedd Insurance Agency (BTS Insurance Agency), a Darien, Connecticut-based division of Cross Insurance, has rebranded as Cross Private Client Insurance (CPCI). Cross Insurance is a subsidiary of Cross Financial Corp and an independent insurance provider in New England … from News – Insurance Journal https://ift.tt/3fuqBUc

Pandemic pushes Lloyd's back into full year 2020 loss

Market forecasts customer pay-outs in relation to the Covid-19 will reach £6.2bn on a gross basis. from Insurer - insuranceage.co.uk https://ift.tt/3w8QeA1

Houston Company to Pay $50.9K to Settle Federal Age Discrimination Suit

A Houston-based engineering and construction company will pay a former employee $50,960 to resolve an age discrimination lawsuit, federal officials say. The lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), alleges Burrow Global Services LLC fired an employee … from News – Insurance Journal https://ift.tt/3sF68jh

City of London Financial Center Likely to See Most Workers Return After Pandemic

LONDON – The City of London financial center, which has resembled a ghost town since the coronavirus swept the world last year, is likely to see most workers return to their offices after the pandemic, the City’s political leader said … from News – Insurance Journal https://ift.tt/3m5aIoF

Gen Xers Pass Boomers in Wealth; Inequality on Basis of Race Persists

Crammed between the cultural extremes of the baby boomers and the millennials, members of Generation X saw their wealth jump during the Trump administration and through the coronavirus pandemic as they hit their prime earning years during a record bull … from News – Insurance Journal https://ift.tt/39vKAhz

2020’s P/C Insurance Industry Results and What They Mean for 2021

The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019. A … from News – Insurance Journal https://ift.tt/3m7v4xl

Former California Agent Arraigned After Allegedly Stealing from Client

Formerly licensed insurance agent, Mandy Pruitt, 42, of Visalia, Calif., was arraigned today on one count of grand theft after she allegedly stole more than $4,400 from a client and used the money to pay for personal expenses. The alleged … from News – Insurance Journal https://ift.tt/3u2z1Gq

Fire Danger Alerts, Red Flag Warnings Issued in Midwest States

Strong winds, warmer conditions and low humidity are combining to create a fire danger across several states, including parts of Nebraska, Kansas, Iowa and Missouri. The National Weather Service on March 29 issued red flag watches and warnings for most … from News – Insurance Journal https://ift.tt/39sT3lQ

South Dakota Wildfires: 400 Homes Evacuated; Mount Rushmore ClosedSouth Dakota Wildfires: 400 Homes Evacuated; Mount Rushmore Closed

Three separate wildfires in the Black Hills of South Dakota have forced evacuations of more than 400 homes northwest of Rapid City and shut down Mount Rushmore, authorities said. A fire that started near Schroeder Road in the Nemo area, … from News – Insurance Journal https://ift.tt/2PdmUYB

Indiana Sandwich Shop to Pay $28.7K to Settle Disability Discrimination Suit

A Bloomington, Ind., fast-food sandwich shop will settle a federal disability discrimination lawsuit for $28,700, authorities say. The U.S. Equal Employment Opportunity Commission (EEOC) charged in its suit that Ranrae Inc., doing business as Subway violated federal law by rejecting … from News – Insurance Journal https://ift.tt/39tdVcy

Regulators, Watchdog at Odds With Insurance Actuaries Over Withdrawn Documents

A task force of the National Association of Insurance Commissioners is asking the board of directors of the Casualty Actuarial Society to reverse a decision rescinding a “statement of principles” of the profession, Carrier Management recently reported. The CAS action … from News – Insurance Journal https://ift.tt/2PInmh2

Texas Legislation Would Overhaul State’s Electricity Market, Require Weatherization

The Texas Senate has unanimously approved a sweeping bill that would overhaul the state’s electricity industry and infrastructure, including mandating that power plants prepare for extreme weather and outlawing risky indexed retail electric plans. Senate Bill 3, filed by Republican … from News – Insurance Journal https://ift.tt/3fqAVww

Global Insurers Paid $89 Billion for Natural, Manmade Disasters in 2020: Swiss Re

Natural and man-made catastrophes cost the insurance industry US$89 billion in 2020, in the fifth costliest year since 1970, according to a report from Swiss Re’s sigma. Of that total, US$81 billion related to claims from natural catastrophes, with the … from News – Insurance Journal https://ift.tt/3cCGw17

Insurance Techknowledgy: Marble Opens Up Wallet; AXA Funds Idelic’s Analytics; Markel Backs Counterpart Platform

Insurtechs focused on consumer management of insurance policies and commercial fleet analytics are expanding their reach following funding rounds. Also, a new platform for offering management liability insurance to small firms debuts with backing from Markel. Marble Digital insurance policy … from News – Insurance Journal https://ift.tt/3m6JrSw

Hawaii Teen Gets $150K Settlement for Arrest by Classmate’s Dad

The Honolulu City Council has approved a $150,000 settlement in a lawsuit that accused a police officer of improperly arresting a boy who had a personal dispute with his son. The family’s federal lawsuit alleged that Officer Kirk Uemura had … from News – Insurance Journal https://ift.tt/3u84YNK

Washington School District Agrees to $4.25M Sex Assault Settlement

A suburban Seattle, Wash., school district this week agreed to pay $4.25 million to settle a lawsuit that accuses a former middle school teacher of sexually assaulting his student for nearly a decade. According to the lawsuit, drama teacher Richard … from News – Insurance Journal https://ift.tt/3m1uHoc

California County Paying $4M in Misconduct Suits

San Diego County has so far spent more than $4 million to settle a dozen lawsuits brought after a sheriff’s deputy admitted to on-duty misconduct with 16 women, a newspaper reported Sunday. The Union-Tribune cited documents that show lawyers for … from News – Insurance Journal https://ift.tt/3sHrCwc

Police Say New York Construction Worker Killed in Trench Collapse

A construction worker was killed when a trench collapsed on him while he was working in a residential development in the Hudson Valley community of Woodbury, New York, police said. The 43-year-old worker was digging in a 10-foot ditch when … from News – Insurance Journal https://ift.tt/2O6hZYF

Pennsylvania Gas Driller to Pay $1.9M for Damage to Wetlands, Waterways

One of the most active natural gas exploration firms in Pennsylvania has agreed to pay $1.9 million after it disclosed in 2014 that its construction work had damaged waterways and wetlands, without proper permits, according to paperwork filed in federal … from News – Insurance Journal https://ift.tt/3wfdRHg

People Moves: Cole from XS Brokers to Rockwood; Westchester’s Roberts, Fred C. Church’s Sanderson Promoted

Rockwood Programs Names Cole as Chief Marketing Officer Rockwood Programs Inc., a full-service managing general agency, has appointed Carol Cole to chief marketing officer. In this role, Cole is responsible for marketing employment practices liability, insurance agents errors and omissions, … from News – Insurance Journal https://ift.tt/2PEJOHZ

Despite Soy Rally, Farmers Bet on Corn Backed by High Crop Insurance Guarantee

CHICAGO— A 45% rally in soybean prices in 11 months was not enough to convince South Dakota farmer DuWayne Bosse to give up any corn acreage on his farm this spring. “For our farm, we are looking at maxing out … from News – Insurance Journal https://ift.tt/3m4Lg2p

Boeing Directors Seek Dismissal of Investors’ Lawsuit Over 737 MAX Safety

Boeing Co. asked a Delaware court to throw out a shareholders’ lawsuit over the safety of its 737 MAX following fatal crashes, saying the board engaged in “robust and well-established” oversight of jet’s development. In an amended complaint unsealed in … from News – Insurance Journal https://ift.tt/39s0k56

Call for clarity on final rules amid FCA dual pricing extension

The regulator's plan to ban the loyalty penalty is met with approval from the industry, but some criticise the FCA's approach as firms still do not know what the final rules are. from Insurer - insuranceage.co.uk https://ift.tt/3svqFH3

Guy Carpenter Launches Asia Pacific Capital Advisory Group

Guy Carpenter & Co., reinsurance specialist and a unit of Marsh McLennan, announced the launch of its Capital Advisory Group in Asia Pacific, with the appointments of Michael Owen and Hussain Ahmad to lead this new operation. The capital pressures … from News – Insurance Journal https://ift.tt/39ouzdq

Japan Chipmaker Renesas Says Normal Production at Fire-Hit Plant to Take 100-120 Days

TOKYO – Japanese chipmaker Renesas Electronics said on Tuesday it would take at least 100 days to get back to normal production at its fire-hit plant, even as the government urged some Taiwanese companies to help with alternative chip production. … from News – Insurance Journal https://ift.tt/39nwr60

Britain Shouldn’t Blindly Adopt EU Rules Just to Keep Business in London: BoE’s Brazier

LONDON – Britain should not be “short-sighted” and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. The City of London was cut adrift from … from News – Insurance Journal https://ift.tt/3w9s0FN

Florida School District to Pay $2M Over Chicken Nugget Choking Death of Student

The family of a 19-year-old student with autism will receive a $2 million settlement from a Florida school district a year and a half after he choked on a chicken nugget and died. The settlement approved by the Palm Beach … from News – Insurance Journal https://ift.tt/3fkPtOi

‘Treating Us Like Robots’: Alabama Amazon Workers Seek Union

Linda Burns was excited at first to land a job at the Amazon warehouse outside Birmingham, Alabama. The former nursing assistant had always enjoyed ordering from the company, Now, she would be working for them. A cog in a fast-moving … from News – Insurance Journal https://ift.tt/3m4yLE5

Illinois Governor Vetoes Personal Injury Prejudgment Interest Legislation

Illinois Gov. J.B. Pritzker has vetoed a bill that would have provided for prejudgment interest in the recovery of damages in personal injury or wrongful death lawsuits. House Bill 3360 “provides for the recovery of prejudgment interest on all damages … from News – Insurance Journal https://ift.tt/2O9puhE

Insurance Unlikely to Cover all Shipowers’ Expenses Incurred from Suez Closure Chaos

The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry … from News – Insurance Journal https://ift.tt/3diHVsH

Supreme Court Grapples With Investor Class Actions in Goldman Sachs Securities Case

U.S. Supreme Court justices on Monday struggled in a case involving Goldman Sachs Group Inc. over how judges should determine when shareholders can collectively sue publicly traded companies for fraudulent statements that keep their stock prices artificially high. The justices … from News – Insurance Journal https://ift.tt/2QFaxVh

Number of Independent Agencies Dips a Bit: Future One Study

Despite continued robust agency mergers and acquisitions activity, the number of independent insurance agencies has remained stable at 36,000, a number slightly below the last tally of 36,500 in 2018. That’s according to the 2020 Agency Universe Study from Future … from News – Insurance Journal https://ift.tt/3wa1dJf

Bill to Legalize Recreational Pot Dies in North Dakota Senate

North Dakota’s Republican-led Senate has killed legislation to legalize recreational marijuana in the state. Only 10 of the chamber’s 47 senators voted for the measure. The bill passed the GOP-led House last month with a 56-38 vote for approval. Backers … from News – Insurance Journal https://ift.tt/3fpSsFk

Judge: Austin Can Require Masks Despite Lifting of Texas’ Statewide Mandate

A Texas judge is allowing the City of Austin to continue to require face coverings in local businesses weeks after Republican Gov. Greg Abbott ended a statewide mask mandate and other COVID-19 safety measures. The ruling by state District Judge … from News – Insurance Journal https://ift.tt/3u1Ib64

Private Equity Firm Odyssey Partners With Management to Acquire SIAA

Private equity firm Odyssey Investment Partners has joined with management of SIAA (Strategic Insurance Agency Alliance), the nation’s largest alliance of independent insurance agencies, to acquire the company. New Hampshire-headquartered SIAA says its model and operations will remain unchanged under … from News – Insurance Journal https://ift.tt/3cuFZOD

Aviva adds cyber product to FastTrade

The cover is designed to help small and medium enterprises combat the increasing threat of digital crime. from Insurer - insuranceage.co.uk https://ift.tt/31rnep3

Allstate’s Sale of New York Unit to Wilton Re to Complete Exit from Life, Annuity Business

The Allstate Corp. said it has agreed to sell its New York life insurance and annuity operation to Wilton Re for $220 million. The selling of Allstate Life Insurance Company of New York (ALNY), along with the previously announced agreement … from News – Insurance Journal https://ift.tt/2PkulNk

Underground Electrical Blast Rocks New Jersey’s Asbury Park

Utility crews restored service after an underground electrical fire rocked the New Jersey shore city made famous by Bruce Springsteen’s music. Thursday’s blast caused two manhole covers to come out of the ground and forced the evacuation of some businesses … from News – Insurance Journal https://ift.tt/3czvo57

New Jersey Governor Nominates Thompson as Insurance Fraud Prosecutor

New Jersey Governor Phil Murphy has announced his nomination of Tracy Thompson as insurance fraud prosecutor. Thompson has led the Office of the Insurance Fraud Prosecutor in an acting capacity since March 2018. Her nomination, which will be formally submitted … from News – Insurance Journal https://ift.tt/39o74kB

Tornado Touches Down in Vermont, Injuring at Least Two

A tornado with an estimated wind speed of 110 mph touched down in Vermont on Friday afternoon, injuring at least two people. A statement from the National Weather Service in Burlington, Vermont, says the tornado threw a barrel into a … from News – Insurance Journal https://ift.tt/3rwdxQD

Caesars in Nevada Puts Pandemic Losses At $2B, Wants Insurers to Pay

Casino giant Caesars Entertainment Inc. is putting its losses because of the coronavirus pandemic in 2020 at more than $2 billion, and is suing a long list of insurance carriers it accuses of balking at paying its business interruption costs. … from News – Insurance Journal https://ift.tt/3sAouSu

Utah Passes Law Requiring Pilot Insurance Following Plan Crash

The lawsuit from a 2017 crash of an airplane on 1900 West in Roy lingers on, more than three years after it was filed. The pilot, apparently, was not insured, leaving Samantha Sandoval – hit in her car in the … from News – Insurance Journal https://ift.tt/3wcuPWr

Judge Considering Requiring PG&E in California to Turn off Power More Often

A federal judge overseeing Pacific Gas & Electric’s criminal probation said Tuesday that he is considering requiring the utility to be more aggressive about turning off its electricity lines near tall trees, a plan that could double the number of … from News – Insurance Journal https://ift.tt/2Pzp7gC

Former California Uber Driver Convicted of Raping Passengers

A former Uber driver in Central California was found guilty of sexually assaulting and stealing from five passengers. Jurors took less than three hours to convict Alfonso Alarcon Nunez of 13 felonies, including three charges of rape, the San Luis … from News – Insurance Journal https://ift.tt/3foI8gD

Chubb ‘Disappointed’ in Hartford’s Rejection of Merger Offer, Talks

Global insurer Chubb Ltd. today issued a statement that it is “disappointed that The Hartford chose not to engage in discussions regarding a strategic business combination.” However, the disappointed insurer said it will continue to seek opportunities for acquisitions. Chubb’s … from News – Insurance Journal https://ift.tt/3dkd5zO

FEMA Knows About Trying to Build Back Better Infrastructure

Lawmakers in Washington are gearing up for the Biden administration’s first major legislative challenge: a set of measures on long-term economic priorities, including infrastructure and jobs, expected to cost roughly $3 trillion. Key to President Joe Biden’s Build Back Better … from News – Insurance Journal https://ift.tt/3cuZ17y

Analysts Affirm CNA Ratings As Insurer Continues Probe of Cyber Attack

CNA Financial Corp.’s financial ratings have not been affected by the insurer’s recent cyber attack. AM Best, S&P Global Ratings and Fitch Ratings all affirmed their current ratings and outlooks for CNA and its subsidiaries and said they believes the … from News – Insurance Journal https://ift.tt/39nYDG6

Suez Canal Blockage Likely to Bring Large Losses for Global Reinsurers: Fitch

The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event for the reinsurance industry, according to Fitch Ratings. This event will reduce global reinsurers’ earnings but should not materially affect … from News – Insurance Journal https://ift.tt/3sBPEsq

SPACs Have Rocketed in U.S. but Europe Has Moved More Slowly. Here’s Why.

STOCKHOLM — “I get an email almost every morning from some SPAC seller telling me to do a SPAC with them,” said Johnny Boufarhat, CEO of Hopin, a virtual events platform. “It’s interesting, but it also doesn’t make sense for … from News – Insurance Journal https://ift.tt/3u23pRb

East West collapse: Administrator report shows £164.7m deficit

The building guarantee specialist insurer was forced into administration in 2020. from Insurer - insuranceage.co.uk https://ift.tt/3cwnv07

Software Developers Launching Type of Insurance Cover for Cryptocurrencies

Adventurers in what is perhaps the most lucrative and risky corner of the cryptocurrency world are starting to see a bit of a safety net. In the past year, scores of investors big and small have poured billions into decentralized-finance … from News – Insurance Journal https://ift.tt/3ruNY2w

What Has changed After Brexit for London’s Financial Center?

LONDON — Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to cooperate on regulation but does little to improve the City of London’s access to the bloc. Britain left the … from News – Insurance Journal https://ift.tt/39la8Ow

Stranded Container Ship Partially Re-floated: Suez Canal Authority

CAIRO – A massive container ship blocking Egypt’s Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said, raising hopes the busy waterway will soon be reopened. The 400-meter (430-yard) long Ever Given became … from News – Insurance Journal https://ift.tt/3m7OSRl

Midwest People Moves: J.M. Wilson; AF Group

March 28, 2021

J.M. Wilson Portage, Mich.-based managing general agency and surplus lines broker, J.M. Wilson, has added Rebecca Green as chief financial officer. Green is replacing Mark Sundstrand who retired after 42 years of service. She is responsible for strategy and leadership … from News – Insurance Journal https://ift.tt/3ctSaLq

Photographer Wins Copyright Claim Over Warhol Art

March 28, 2021

A U.S. appeals court sided with a photographer Friday in a copyright dispute over how a foundation has marketed a series of Andy Warhol works of art based on one of her pictures of Prince. The New York-based 2nd U.S. … from News – Insurance Journal https://ift.tt/2PDxF60

Allianz Privately Mulls Counteroffer for The Hartford After Chubb’s Offer

March 28, 2021

Chubb Ltd.’s $23 billion takeover offer for Hartford Financial Services Group Inc. has prompted Germany’s Allianz SE to study the feasibility of a counteroffer, according to people familiar with the matter. Europe’s biggest insurer is discussing its options with potential … from News – Insurance Journal https://ift.tt/3w4gdse

Element Risk Management Acquires Henderson Insurance, Our Legacy Insurance

Element Risk Management has acquired Henderson Insurance of Harrisburg, Pennsylvania, and Our Legacy Insurance of Front Royal, Virginia. Henderson Insurance, founded by Jim Henderson in 1978, has served the central Pennsylvania community for more than 40 years. The Henderson staff … from News – Insurance Journal https://ift.tt/2PvCfTU

Former New York Postal Worker Sentenced for Workers’ Comp Fraud

A former postal employee has been sentenced to serve three years on probation for workers’ compensation fraud. Christine O’Neill, 61, of Johnson City, New York, was sentenced by Senior United States District Judge Thomas J. McAvoy for defrauding the U.S. … from News – Insurance Journal https://ift.tt/2QBeI4p

Needham develops administration and integration service

The new offering is designed to protect policyholders and insurers or MGAs when a broker ceases trading. from Insurer - insuranceage.co.uk https://ift.tt/3sqz8v8

Insurtech Funding News: $118M for Pie; $30M for Snapsheet

There have been two notable funding rounds by insurtechs this week. Workers’ compensation provider Pie Insurance has raised $118 million in new funding, including financing from Allianz and others. Snapsheet, a claims management platform insurtech, raised $30 million in new … from News – Insurance Journal https://ift.tt/31p54ny

Top 10 tips: Considering insurer financial security

Biba’s Mike Hallam outlines some key strategies for brokers to help them assess the financial strength of providers. from Insurer - insuranceage.co.uk https://ift.tt/3cnouQ1

City of London Is Realizing that EU Will Limit Access for Financial Services: Lawmaker

LONDON – There is a growing realization that Britain should not wait for unlikely European Union access for financial services but get on with building a more competitive City of London, a senior lawmaker said on Thursday. Britain left the … from News – Insurance Journal https://ift.tt/3lRkNFw

Ex-Towergate and Aviva boss Mark Hodges to join RSA

Hodges will become chair of RSA UK&I once the proposed sale to Intact is completed. from Insurer - insuranceage.co.uk https://ift.tt/3lU5Gv4

Brokerslink Expands in Balkans with Addition of Broker in Bosnia and Herzegovina

Global broking network, Brokerslink, has further expanded its presence in the Balkan Peninsula with the addition of independent broker Advantis Insurance Broker, based in Bosnia and Herzegovina. Established in 2015, Advantis offers clients access to a wide range of product … from News – Insurance Journal https://ift.tt/31iFC35

Fate of Florida Insurance Reforms Uncertain as Lawmakers Weigh Industry-Backed Bills

Two bills designed to deal with Florida’s crumbling property insurance market have embarked on divergent paths in the state legislature as lawmakers approach the final weeks of the 2021 session. Senate Bill 76 and House Bill 305, both originally supported … from News – Insurance Journal https://ift.tt/3rmsEfy

Minnesota Recreational Marijuana Bill Advances in House

Minnesota lawmakers have advanced a proposal that would allow recreational marijuana use for adults and automatically expunge minor convictions related to cannabis, inching the state closer toward legalization. The legislation, authored by Democratic House Majority Leader Ryan Winkler, of Golden … from News – Insurance Journal https://ift.tt/3ckfxqS

North Dakota Seed Company to Pay $225K OSHA Penalty After Employee Injury

A Fargo, N. D., birdseed production company has reached a settlement with a federal agency that investigated a severe and life-altering injury to an employee. The probe by the Occupational Safety and Health Administration stemmed from an incident in August … from News – Insurance Journal https://ift.tt/3rrq6wu

Private Equity Firm CVC Nears Deal to Buy Insurance Arm of National Bank of Greece

CVC Capital Partners is nearing a deal to acquire National Bank of Greece SA’s insurance business after a years-long search for a buyer, people familiar with the matter said. The private equity firm could announce an agreement as soon as … from News – Insurance Journal https://ift.tt/3rpFcTa

Germany’s Allianz Emerges as Frontrunner to Buy Aviva Poland for $2.9B: Sources

Allianz SE, Europe’s largest insurer, has emerged as the frontrunner to buy the Polish operations of Aviva Plc in one of the most competitive insurance auctions in the region this year, people with knowledge of the matter said. The British … from News – Insurance Journal https://ift.tt/31klYUy

Gender Pay Gap in Australia Is Worst in Insurance and Finance Industries: Study

Australia is losing momentum in efforts to bring equality to the workforce, with a new study finding that it will probably take another 26 years until women are paid the same as men. The gender pay gap is worst in … from News – Insurance Journal https://ift.tt/39danL9

South Central People Moves: Texas’ BSBD Group Adds Williamson as VP

Dallas-based independent retail brokerage firm, Boyd, Shackelford, Barnett & Dixon (BSBD Group). has hired Lad Williamson as vice president of Employee Benefits. Williamson will help oversee the employee benefits operations by tailoring customized employee benefit plans for middle market and … from News – Insurance Journal https://ift.tt/3tWsv3U

Former Student Accuses Washington Teacher of Sex Abuse

A woman has accused her former teacher of sexual abuse in a lawsuit filed against the Marysville School District. The lawsuit accuses longtime art teacher Kurt Hollstein of sexually abusing her around 1985, when the woman was about 14, The … from News – Insurance Journal https://ift.tt/2QAn6kF

Supreme Court Rejects Ford Stance in Product Liability Venue Dispute

The U.S. Supreme Court on Thursday unanimously ruled against Ford Motor Co. in a case in which the second-largest U.S. automaker had sought to bar two state courts from hearing product liability suits involving a pair of serious crashes. Ford … from News – Insurance Journal https://ift.tt/3w135nS

Contractor Fined $74K Over Asbestos-Tainted Debris at Oregon Site

A company has been fined over $74,000 for improperly sending asbestos-tainted debris to a landfill in Southern Oregon. The Oregon Department of Environmental Quality described the violations as “major magnitude violations,” but said the problems have since been “properly abated … from News – Insurance Journal https://ift.tt/39gqOXi

Arizona City’s Computer System Slowly Recovering From Cyberattack

Officials in Kingman say the city’s computer system is slowly getting back to fully operational after a recent cyberattack. The city also said it has insurance to help with the process. The Feb. 26 attack from an unknown source knocked … from News – Insurance Journal https://ift.tt/3sqJtqL

When Lights Go Out as They Did in Texas, Insurance Coverage Could Turn On

The power was still off in Texas last month when rating agencies began predicting that the weather-related catastrophe would cause unprecedented losses for insurance companies. On February 19, rating agency A.M. Best forecast that insurance companies “could suffer record first-quarter … from News – Insurance Journal https://ift.tt/2PziISM

White House to Require Software Firms to Disclose Breaches to Government Customers

A planned Biden administration executive order will require many software vendors to notify their federal government customers when the companies have a cybersecurity breach, according to a draft seen by Reuters. A National Security Council spokeswoman said no decision has … from News – Insurance Journal https://ift.tt/2NU1oap

Judge Lets Massachusetts Claims Over Uber, Lyft Driver Classification Proceed

A Massachusetts judge on Thursday denied a bid to dismiss a lawsuit by the state’s attorney general challenging Uber’s and Lyft’s classification of drivers as independent contractors instead of employees entitled to sick time and other costly benefits. Suffolk County … from News – Insurance Journal https://ift.tt/3u0HDgV

At Least 111 Texans Died in During Winter Storm; Most from Hypothermia

At least 111 Texans died as a result of the February 2021 winter storm, according to updated numbers released on March 25 by the state Department of State Health Services. The newly revised number is nearly twice what the department … from News – Insurance Journal https://ift.tt/2Px7qhv

Ohio Entertainment Firm to Pay $40K in Discrimination/Retaliation Case

An entertainment and dining establishment in Avon, Ohio, will pay $40,000 and furnish equitable relief to settle a federal disability discrimination and retaliation charge. The U.S. Equal Employment Opportunity Commission (EEOC) said its investigation found reasonable cause to believe that … from News – Insurance Journal https://ift.tt/3feXNik

Participate in Insurance Journal’s Young Agent Survey Today

Insurance Journal is seeking young independent insurance agents – those 40 and under – to share their thoughts on the insurance industry, their job and their future as a young professional in the annual Young Agents Survey. The results will … from News – Insurance Journal https://ift.tt/3soUJE7

North Dakota House Kills Bill That Would Strengthen Seat Belt Law

North Dakota’s House has rebuffed another attempt at changing the state’s seat belt law. The House voted 49-45 to kill the proposal to allow police to pull over drivers if they see them not wearing seat belts. The fine would … from News – Insurance Journal https://ift.tt/3tUYEck

Battle Brews over Texas Bills Aimed at Commercial Vehicle Accident Lawsuits

A battle is brewing between trucking and insurance industry interests and trial lawyers in Texas over a pair of companion bills introduced in the Texas House and Senate that proponents say are aimed at providing consistency and uniformity in civil … from News – Insurance Journal https://ift.tt/3lOPlaQ

Chemical Site Cleanup on Maine River to Cost More Than $180M

A settlement that is pending approval from a federal judge would require the former owner of a shuttered chemical plant in Maine to spend more than $180 million to clean up mercury contamination. The settlement concerns the HoltraChem Manufacturing plant … from News – Insurance Journal https://ift.tt/3tOj7iI

National Weather Service Upgrades Forecast Model

The National Weather Service has turbocharged its lagging forecast model to better predict extreme weather events such as hurricanes, blizzards and downpours, as well as day-to-day weather. By including much higher layers of the atmosphere, increased factoring of ocean waves … from News – Insurance Journal https://ift.tt/2PvyvSd

New York Proposes Guidance for Insurers on Managing Financial Risks of Climate Change

The New York State Department of Financial Services (DFS) has issued proposed guidance for regulated insurers on managing the financial risks of climate change. The proposed guidance comes after a circular letter was issued by DFS on September 22, 2020. … from News – Insurance Journal https://ift.tt/3sm8hjH

3 Homeowners Get $1.1M for 2017 Nevada Flood Damage

A Washoe County judge in Nevada has ordered Reno to pay $1.1 million to owners of three homes that flooded north of the city four years ago as dozens of others continue to press related battles in federal court over … from News – Insurance Journal https://ift.tt/3cqt40h

Disclosure Protections May Not Apply to Some Facebook App Records in Healey Probe

Facebook Inc. could be required to disclose some of its records identifying apps that allegedly misused customer data in a privacy investigation brought on by state Attorney General Maura Healey. The Massachusetts Supreme Court found that some of Facebook’s app … from News – Insurance Journal https://ift.tt/3fergcw

Huge Backlog of Ships Waits for Salvage Team to Re-Float Vessel Blocking Suez Canal

A huge backlog of ships was building up around the Suez Canal for a third day as an elite salvage team set about the monumental challenge of freeing the container vessel that’s blocking the crucial waterway. Work to re-float the … from News – Insurance Journal https://ift.tt/2Pw4Loj

Insurtech So-Sure expands into home insurance

The insurance startup company, which is known for its gadget insurance, is now offering its customers home insurance as well. from Insurer - insuranceage.co.uk https://ift.tt/3d9vyim

Towergate Buys AFL Retail Team, Following a Separate AFL Team Move Last Week

Towergate Insurance Brokers announced it has exchanged contracts to purchase the corporate retail book of business from AFL Insurance Brokers, which includes a team of 13. This deal comes on the heels of last week’s announcement that a team of … from News – Insurance Journal https://ift.tt/3lMmWlW

Ardonagh’s Ross “angry for the industry” over "ill-informed" BI backlash

Ross says an industry working group was “on the cusp” of solving the issue around Covid-19 BI claims, when the opportunity was “taken out of our hands” due to the FCA’s test case. from Insurer - insuranceage.co.uk https://ift.tt/3m1i8tb

SEC Starting to Inquire About Risk Management of Blank Check IPOs

The U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter. The U.S. Securities and … from News – Insurance Journal https://ift.tt/31jANXA

Kin Insurance to Offer Homeowners Coverage in Louisiana

Kin Insurance is expanding to offer homeowners insurance coverage in Louisiana. The company said the expansion into the underserved Louisiana market creates new opportunities for residents — especially for those in high-risk areas. Kin Insurance describes itself as an insurtech … from News – Insurance Journal https://ift.tt/31dKir4

Crawford & Co. Appoints Spencer as Global President of Crawford Legal Services

Crawford & Company, an independent provider of claims management and outsourcing services to carriers, brokers and corporations, has appointed Jason Spencer as global president, Crawford Legal Services. Spencer will report to Crawford President Joseph Blanco. In his new role, Spencer … from News – Insurance Journal https://ift.tt/3snbFuC

Minnesota District to Pay $300K to Settle Transgender Student Discrimination Suit

Minnesota’s largest school district will pay $300,000 to settle a discrimination lawsuit with a transgender student who was barred from using the boys’ locker room, school officials and supporters of the student said. The Anoka-Hennepin School District also agreed to … from News – Insurance Journal https://ift.tt/31gir9N

W. Virginia Enacts COVID Liability Protections for Employers, Health Care Providers

West Virginia Gov. Jim Justice has signed a bill that protects employers, health care providers and others from being sued due to the coronavirus pandemic. The bill offers protection from COVID-19 lawsuits even if public health guidelines were ignored. But … from News – Insurance Journal https://ift.tt/3lPstbd

Lawsuit Against BHP over Brazil Dam Collapse Fails on Appeal in English Court

LONDON – A 200,000-strong Brazilian claimant group said on Wednesday it had failed to resurrect a 5.0 billion pound ($6.9 billion) English lawsuit against Anglo-Australian mining giant BHP over a devastating 2015 dam failure. The Court of Appeal agreed with … from News – Insurance Journal https://ift.tt/2PrT95K

Insurers of Container Ship Aground in Suez Canal Face Millions in Claims

LONDON – The owner and insurers of one of the world’s largest container ships stuck in the Suez Canal face claims totalling millions of dollars even if the ship is refloated quickly, industry sources said on Wednesday. The 400-meter, 224,000-tonne … from News – Insurance Journal https://ift.tt/3snJbkx

Facebook, Google CEOs Suggest How to Reform Internet Immunity Law

Facebook Chief Executive Mark Zuckerberg laid out steps to reform a key internet law on Wednesday, saying that companies should have immunity from liability only if they follow best practices for removing damaging material from their platforms. In testimony prepared … from News – Insurance Journal https://ift.tt/3lNDZUy

Treasury Secretary Yellen Says ‘Systemic’ Tag May Not be Right for Asset Managers

Treasury Secretary Janet Yellen said on Wednesday it is important to “look carefully” at systemic risks posed by asset managers, including BlackRock Inc., but said designating them as systematically important financial institutions may not be the right approach. Yellen’s remarks … from News – Insurance Journal https://ift.tt/39cepnl

Washington Commissioner Asking Insurers to Craft Consent Policies with Tribes

Washington Insurance Commissioner Mike Kreidler is urging the insurance industry in his state to work with Native Americans on adopting policies of consent on environmental projects that affect Tribal nations. According to Kreidler, policies that he’s endorsing would help strengthen … from News – Insurance Journal https://ift.tt/3cjPUGx

Industry Loss Reserves Redundant by $28 Billion: Assured Research

Analysts at Assured Research delivered some surprises in a report on property/casualty insurance industry loss reserves Monday, finding that reserves are $28 billion redundant and predicting that some hard market pricing will stabilize or diminish this year. That industry loss … from News – Insurance Journal https://ift.tt/3tR5L5C

AstraZeneca to Publish Full COVID-19 Vaccine Clinical Trial Results on Efficacy

AstraZeneca will publish up-to-date results from its major U.S. COVID-19 vaccine trial within 48 hours after health officials publicly criticized the drugmaker for using “outdated information” to show how well the immunization worked. The rare public rebuke marks the latest … from News – Insurance Journal https://ift.tt/2PlnGSQ

Boston Scientific Settles States’ Surgical Mesh Device Marketing Claims for $189M

Boston Scientific Corp. agreed to pay $188.7 million to settle claims by most U.S. states that it deceptively marketed its surgical mesh devices to consumers. The settlement with 47 states and Washington, D.C. was announced on Tuesday by several state … from News – Insurance Journal https://ift.tt/3d0zcvc

FCA targets wrongdoing with whistleblower campaign

The watchdog is encouraging financial services staff to report issues as part of the ‘In confidence, with confidence’ push. from Insurer - insuranceage.co.uk https://ift.tt/3ciKcEW

AIA Group to Buy Insurance Business of Bank of East Asia

Hong Kong-based insurer AIA Group has entered into an agreement to buy the wholly-owned life insurance unit of Bank of East Asia (BEA) and has signed a 15-year distribution partnership with the lender for a total of about $650 million. … from News – Insurance Journal https://ift.tt/3tJogIW

Britain Proposes Requiring Large Firms to Disclose Climate Financial Risks by 2022

Britain launched a public consultation on Wednesday on proposals to require large companies as soon as 2022 to disclose the financial risks they face from climate change. The business ministry said disclosures should be in line with recommendations from the … from News – Insurance Journal https://ift.tt/3lJiLY7

Aston Lark broker renovation portal “a good step forward”

The business is also offering online training to brokers in the “daunting” renovation space. from Insurer - insuranceage.co.uk https://ift.tt/31eTN9q

Wrisk, Cover Genius and Iotatech named in Impact 25 report

The report, by Oxbow Partners, highlights the top insurtech providers who could make a difference in the insurance space. from Insurer - insuranceage.co.uk https://ift.tt/3tPgqxE

Das UK launches Ride Across Britain challenge to raise money for Alzheimer's Society

Ten riders from across the industry are set to cycle 980 miles from Land’s End to John O’Groats to raise at least £25,000 for the Insurance United Against Dementia campaign. from Insurer - insuranceage.co.uk https://ift.tt/3ceeoBc

Arthur J. Gallagher Acquires R&R Benefits/Risk Management in Indiana

Global insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co., has acquired South Bend, Indiana-based R&R Benefits/Risk Management LLC. Terms of the transaction were not disclosed. Founded in 2000, R&R Benefits is an independent insurance agency … from News – Insurance Journal https://ift.tt/3rniJq8

Data: Florida’s Texting-While-Driving Law Rarely Enforced

A Hillsborough County sheriff’s deputy was heading east on Interstate 4 in his red Dodge Charger on a brilliantly sunny afternoon in Florida when he saw him: A young driver behind the wheel of a Jeep texting on his phone. … from News – Insurance Journal https://ift.tt/3ceRBFe

South Carolina Lawmakers Look to Combat Catalytic Converter Theft

The South Carolina House has approved a bill that would make buying or selling stolen catalytic converters a separate crime that could bring up to three years in prison. The bill that passed 94-0 on Thursday was prompted by a … from News – Insurance Journal https://ift.tt/3lMz85W

Nashville Approves $2.25M Settlement in Fatal Shooting by Officer

Officials in Tennessee have agreed to pay $2.25 million to settle a lawsuit filed by the family of a Black man who was fatally shot by a white police officer from behind during a 2018 foot chase. The Nashville Metro … from News – Insurance Journal https://ift.tt/3ceizwE

Reporters Without Borders Sues Facebook in France over Hate Speech, False Information

PARIS – Reporters Without Borders (RSF) has filed a lawsuit against Facebook in France over hate speech and false information, the global media watchdog said in a statement on Tuesday. RSF said that in a lawsuit filed with the public … from News – Insurance Journal https://ift.tt/31fZ0xT

Lloyd’s Launches Parametric Earthquake Insurance Policy in New Zealand

Lloyd’s has launched a parametric earthquake insurance policy in New Zealand, in partnership with start-up Bounce Insurance, which uses cutting-edge technology and real-time data to automatically pay customers within five days of a strong earthquake. The new product, also called … from News – Insurance Journal https://ift.tt/3snuaPW

Texas Windstorm Insurer Plans for $4B in Funding for Hurricane Season

Texas’ wind and hail insurer of last resort for properties in the state’s coastal counties has determined it needs $4.03 billion in funding to prepare for this year’s hurricane season. The board of directors of the Texas Windstorm Insurance Association … from News – Insurance Journal https://ift.tt/3cge2Kb

Century Risk Advisors of Florida Names Lo Director of Marketing

Independent insurance and risk management agency Century Risk Advisors (CRA) has named Ramon Lo as director of Marketing. In this role, Ramon will spearhead CRA’s branding and marketing initiatives. Prior to joining CRA, Ramon was employed by a trade publication … from News – Insurance Journal https://ift.tt/3tTGIyP

Judge: No Dismissal of Ammo Seller from Suit over Texas School Shooting

A Tennessee-based online retailer accused of illegally selling ammunition to a student who fatally shot 10 people at a Texas high school in 2018 won’t be dismissed from a lawsuit filed by families of those killed and injured, a judge … from News – Insurance Journal https://ift.tt/31c7BBx

Helicopter Crash Exposes Deadly Loophole for Aerial Sightseeing

The five people who signed up for a helicopter sightseeing flight above New York City three years ago might have expected that aviation regulators were looking after their safety. But the reality of that fatal flight on March 11, 2018, … from News – Insurance Journal https://ift.tt/2PivAfM

British Report Says London Joining EU Financial Services Market May Not Be Worth It

The City of London may be better off staying out of the EU’s financial services market as it would have to sacrifice autonomy over setting rules to win full access, a report by Britain’s upper house of parliament said on … from News – Insurance Journal https://ift.tt/3tOAO1U

RICO Suit against Colorado Cannabis Firms Highlights D&O Dearth

A scarcity of directors and officers coverage for cannabis companies may be take an even bigger spotlight following a Colorado lawsuit in which two large cannabis operators and several executives are accused of illegally transporting marijuana to Arkansas. The lawsuit … from News – Insurance Journal https://ift.tt/3vVSMRK

California High Court Affirms Consumer Rights to Dispute Insurance Rates

A California Supreme Court decision has reaffirmed California Insurance Commissioner Ricardo Lara’s assertion that consumers have a right to dispute insurance rates that have not been properly filed and approved. The court’s decision involved title insurance, but has implications for … from News – Insurance Journal https://ift.tt/39bDnTF

Groups Pushing Auto Insurance Reform to ‘End Discrimination Against Lower-Wage Californians’

Millions of California drivers will see auto insurance savings with the adoption of regulations presented at a California Department of Insurance workshop on Tuesday that would “end discrimination against lower-wage Californians,” according to the Consumer Federation of America and the … from News – Insurance Journal https://ift.tt/2QCAcy9

Northern California City Settles for $3.25M in Police Killing

A Northern California city has agreed to pay $3.25 million to settle a lawsuit by the daughters of an unarmed Black man killed by police in 2016, the family’s attorneys said. The federal wrongful death lawsuit they filed says Stockton … from News – Insurance Journal https://ift.tt/2P3vDfw

82 Homes Impacted by Hawaii Rain and Flooding

Three homes were destroyed in heavy rains and flooding last week, the Honolulu Department of Emergency reported. The department collected data that showed a total of 82 homes in the state were impacted by the severe weather, Hawaii News Now … from News – Insurance Journal https://ift.tt/3sdMElC

New Mexico Lawmakers Aim to Address Rising Costs of Child-Abuse Settlements

The New Mexico state Legislature has passed a bill aimed at reducing the rehiring of abusive teachers and addressing the rising costs of child-abuse-related settlements. The Senate passed the bill 37-0 on late last week, in the last 24 hours … from News – Insurance Journal https://ift.tt/3vTOaeP

World’s 1st Catastrophe Bond for Volcanic Eruptions Aims to Improve Disaster Relief

The Danish Red Cross is offering the world’s first catastrophe bond for volcanic eruptions, which is designed to improve the provision and efficiency of humanitarian relief after eruptions of 10 volcanoes across three continents. The cat bond aims to raise … from News – Insurance Journal https://ift.tt/2Qy91Ez

Derwart Named Deputy Commissioner of the Maryland Insurance Administration

Maryland Insurance Commissioner Kathleen A. Birrane has named Gregory M. Derwart as deputy commissioner of the Maryland Insurance Administration. Since July 2020, Derwart has served as chief of staff for the administration, acting as a strategic advisor to Birrane, directing … from News – Insurance Journal https://ift.tt/398qgCL

The Hartford Rejects Chubb’s $23 Billion Buyout Offer

The Hartford today announced that its board of directors has unanimously rejected rival insurer Chubb’s unsolicited proposal to acquire The Hartford for $23.24 billion. The Hartford said its board determined that entering into discussions regarding a strategic transaction “would not … from News – Insurance Journal https://ift.tt/3tJepmz

New York Regulator Issues Second Enforcement Action Under Cyber Rules

The New York Department of Financial Services’ (DFS) second enforcement action to date under its cybersecurity regulation underscores the importance of promptly investigating potential cybersecurity events. It also raises questions about whether insurance coverage would be available for amounts paid … from News – Insurance Journal https://ift.tt/3rbhNVv

N.H. Supreme Finds ‘Special Relationship,’ Affirms Jury Award Against Insurance Agency

A split decision by the New Hampshire Supreme Court released Friday offers a lesson to insurance agents about the importance of checklists. Three justices overruled two dissenters to affirm a Superior Court jury’s verdict that Foy Insurance Group was negligent … from News – Insurance Journal https://ift.tt/3cVUuKs

U.S. Oversight Board Questions AstraZeneca’s COVID-19 Vaccine Safety Data

AstraZeneca may have released outdated information on its latest COVID-19 vaccine trial, giving an “incomplete” picture of its efficacy, a leading U.S. health agency said on Tuesday, casting doubt on the shot’s potential U.S. rollout and plunging its developers, once … from News – Insurance Journal https://ift.tt/2NJJ0B7

Insurer Tokio Marine Expects No Material Impact on 2021 Results from Greensill Collapse

TOKYO – Japanese insurer Tokio Marine Holdings Inc said on Tuesday it currently expects no material impact on its results for the fiscal year starting next month as a result of its exposure to the fallout of Greensill Capital’s collapse. … from News – Insurance Journal https://ift.tt/3vPxy89

FCA reveals insurer claims payouts following BI test case verdict

Regulator says providers have paid out £192.1m in interim payments for unsettled claims and £279.8m in final settlements at it reiterates order to pay out quickly. from Insurer - insuranceage.co.uk https://ift.tt/3vSh4wc

FCA extends dual pricing timetable

Following consultation the regulator has given firms fresh deadlines to implement rules relating to the loyalty penalty. from Insurer - insuranceage.co.uk https://ift.tt/2Qrmfmh

Swiss Cyber Security Firm Says It Accessed Servers of a SolarWinds Hacking Group

A Swiss cyber-security firm says it has accessed servers used by a hacking group tied to the SolarWinds breach, revealing details about who the attackers targeted and how they carried out their operation. The firm, PRODAFT, also said the hackers … from News – Insurance Journal https://ift.tt/316UO3d

Central Europe Could Face Megadroughts as Climate Change Hits

Policy makers who are raising the alarm over water scarcity could still be underestimating the scale of droughts in store for central European economies, according to new research. More frequent dry spells over the last decade have already impacted European … from News – Insurance Journal https://ift.tt/3vOOdsp

UFG Insurance Looks to Diversify Risk Profile by Expanding into Reinsurance Across U.S.

UFG Insurance is looking to diversify across the U.S. by expanding into assumed reinsurance business – partly via quota share arrangements, such as the recently announced deal with Topsail Re, a Cayman Islands-based reinsurer. “We’re looking to grow on a … from News – Insurance Journal https://ift.tt/3sfpNWP

$0 to $100M in 3 Years: Fast-Growing Work Comp Provider Sees Bright Future Ahead

Despite the softening of rates and the challenges of the coronavirus pandemic, one Midwest-based workers’ compensation insurance provider that opened its doors just over three years ago reports that it not only has experienced significant growth during that time, it … from News – Insurance Journal https://ift.tt/2OZVgOj

Midwest People Moves: Kapnick, J.M. Wilson

McLelland Joins Kapnick as Senior VP, Construction Practice Leader Kapnick Insurance Group in Troy, Michigan, has hired Jason McLelland as senior vice president and construction practice leader. McLelland joins Kapnick with 17 years’ professional insurance and surety bond experience. He … from News – Insurance Journal https://ift.tt/399N2tQ

California County Adding Artificial Intelligence for Wildfires

Sonoma County officials say they will add artificial intelligence technology to help fight wildfires with a 24-7 monitor to track fire outbreaks. The technology will be added to the county’s network of wildfire detection cameras that monitor California’s backcountry to … from News – Insurance Journal https://ift.tt/3shicaj

The Inflation Specter Looms for Property/Casualty Insurers

Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much money … from News – Insurance Journal https://ift.tt/3se3AIO

North Carolina Insurers Request Increases on Mobile Home Policy Rates

The North Carolina Rate Bureau has filed a request with the North Carolina Department of Insurance to increase insurance rates for mobile home policies. The NCRB, which represents insurance companies and is not a part of NCDOI, has requested an … from News – Insurance Journal https://ift.tt/3f2GwZP

Belisle Joins McGriff’s Executive Risk Advisors Group

Atlanta-based McGriff has hired Andrew Belisle as a senior vice president and transactional risk specialist in the firm’s Executive Risk Advisors group. Belisle joins McGriff from ASQ, a London-based transactional insurance managing general agent. He previously worked as an underwriter … from News – Insurance Journal https://ift.tt/2QzI2Zn

Allianz Partners Adds Epidemic Coverage to Travel Insurance Products

Allianz Partners, a travel insurance and assistance company, has added enhancements to its travel insurance products that may provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding … from News – Insurance Journal https://ift.tt/3ceniPc

South Carolina Gov. Appoints State’s First Chief Resilience Officer

South Carolina Gov. Henry McMaster has named a longtime government employee already working on the state’s flooding recovery efforts as the state’s first chief resilience officer. Ben Duncan, who currently directs the state’s Disaster Recovery Office, will marshal the state’s … from News – Insurance Journal https://ift.tt/3lDjH04

Man Admits Ransomware Plot Against Tesla in Nevada

A Russian man has pleaded guilty in the U.S. to offering a Tesla employee $1 million to cripple the electric car company’s massive electric battery plant in Nevada with ransomware and steal company secrets for extortion, prosecutors and court records … from News – Insurance Journal https://ift.tt/3sf77Xs

$3.2M in Damage from California Fireworks Explosion

A massive fireworks explosion that left two people dead in Southern California earlier this week caused at least $3.2 million worth of damage, officials said. Residents began returning to their homes over the weekend after evacuating when Tuesday’s blasts rained … from News – Insurance Journal https://ift.tt/3rdknKC

New Mexico Court Upheld Damages Cap in Medical Malpractice

New Mexico’s highest court has ruled that monetary limits on some types of damages due to medical malpractice are not unconstitutional. The New Mexico Supreme Court on Monday unanimously upheld the Medical Malpractice Act, which maintains non-medical and non-punitive damages … from News – Insurance Journal https://ift.tt/3rbQAlJ

Insurance Techknowledgy: InsurTech NY Winners; $3M in GloveBox; Hippo’s Claims Partners; AXIS-Elpha Cyber Service

The Winners Are InsurTech NY announced the winners of its 2021 Early-Stage InsurTech Competition at the InsurTech Spring Conference on March 10. The winners received prizes worth $200K in total. Winners were selected by judging panels grouped by their background—angel … from News – Insurance Journal https://ift.tt/313FVyD

Pennsylvania’s Bedivere Insurance Company to Be Liquidated

The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the company’s financial liabilities have exceeded its assets. Belvedere, a domestic stock property/casualty company based in Pennsylvania, has consented to the … from News – Insurance Journal https://ift.tt/315lTnB

PIB buys specialist M&A MGA Acquinex Group in European move

Acquinex has offices in London, Frankfurt, Warsaw and Copenhagen and the deal, which follows investment from Apax, is the consolidator's third this year. from Insurer - insuranceage.co.uk https://ift.tt/3lI0UAD

Massachusetts Seeks Input on Use of Gas Explosions Settlement Money

Massachusetts is asking residents and businesses in three communities affected by a series of natural gas explosions and fires in September 2018 how to spend some of the money from a settlement with the utility found responsible for the disaster. … from News – Insurance Journal https://ift.tt/2OTIKQo

Two Arrested After Fire in Vermont Hotel Room That Injured Woman

Two people have been arrested after police responded to what they called a suspicious fire at a hotel in Berlin that critically injured a woman. A fire ignited in the 56-year-old woman’s room at the Hilltop Inn, Berlin police said. … from News – Insurance Journal https://ift.tt/3vIK0Xn

Greensill Capital Collapse Exposes Less-Than-Adequate Technological Capabilities

Lex Greensill promoted his business as the future of finance, talking up a technology superior to Wall Street rivals that allowed him to lend at super-low rates based on real-time information. But former staff at Greensill Capital, as well as … from News – Insurance Journal https://ift.tt/3tJ45uF

Biden Administration Warns Firms to Quit Aiding Nord Stream 2 Pipeline

The U.S. State Department is tracking efforts to complete Russia’s Nord Stream 2 natural gas pipeline and evaluating information on entities that appear to be involved, U.S. Secretary of State Antony Blinken said on Thursday. “Any entity involved in the … from News – Insurance Journal https://ift.tt/3c8SHSO

Insurance Council of Australia Declares Catastrophe for Parts of New South Wales

The Insurance Council of Australia (ICA) has declared a Catastrophe for large parts of New South Wales, a state in southeast Australia, following the devastating storms and flooding of the last few days. The ICA’s catastrophe declaration serves to escalate … from News – Insurance Journal https://ift.tt/3s5Vou2

Australia’s Ferocious Weather: From Extreme Drought, to Bushfires, and Now Floods

Australia’s rollout of the COVID-19 vaccine is being hampered by torrential rain and flooding with thousands of residents in parts of Sydney and along the New South Wales coast evacuated as rivers overflow. The downpour is expected to cause disruptions … from News – Insurance Journal https://ift.tt/3cZPHHX

Indiana Fines Utility $1.1M for Pipeline Safety Violations

State regulators have fined Northern Indiana Public Service Co. more than $1 million — the largest in Indiana history — for pipeline safety violations the utility has faced twice in the previous four years. The Indiana Utility Regulatory Commission ordered … from News – Insurance Journal https://ift.tt/3sbqf8v

Texas Bills Address Workers’ Comp, Other Protections for First Responders

A Texas legislator has filed a package of bills he says is aimed at protecting injured first responders and their families. Rep. Jared Patterson, a freshman legislator representing District 106 in Denton County, serves on the House Committee on Business … from News – Insurance Journal https://ift.tt/3s9oLvn

Apple Says It Will Appeal $309M Jury Verdict Over Patent Infringement

A federal jury in Texas said Apple Inc must pay about $308.5 million to Personalized Media Communications LLC (PMC) for infringing a patent associated with digital rights management. The jurors late on Friday directed Apple to pay a running royalty … from News – Insurance Journal https://ift.tt/3s8SQeB

Scientists Say Advanced Nuclear Reactors Not Safer Than Conventional Plants

A new generation of so-called “advanced” nuclear power reactors that Washington believes could help fight climate change often present greater proliferation risks than conventional nuclear power, a science advocacy group said on Thursday. President Joe Biden, a Democrat, has made … from News – Insurance Journal https://ift.tt/3tEAmTN

American Family Rolls Out Rewards Program for Infrequent Drivers in Arizona

American Family Insurance has partnered with Cambridge Mobile Telematics (CMT), a smartphone telematics company, to create the MilesMyWay auto insurance program that rewards drivers for driving less. The app-based program is a pay-as-you-drive (mileage-based) telematics offering that allows drivers to … from News – Insurance Journal https://ift.tt/3cPauha

Florida Man Sentenced to 3 Years for Lying About Hurricane Irma Damage

A Florida man has been sentenced to three years in federal prison for lying about damage caused by Hurricane Irma. Steven Rembert, 49, of Orange County, was sentenced Monday in Orlando federal court, according to court records. He pleaded guilty … from News – Insurance Journal https://ift.tt/394e45R

Amwins Launches Alarm Contractors Program

Amwins Program Underwriters has developed a new insurance coverage dedicated to alarm contractors that includes commercial general liability, professional liability, property and inland marine coverage. The new Alarm Contractors insurance program can be tailored to meet the needs of alarm … from News – Insurance Journal https://ift.tt/3lJTLQn

Florida to Hold Hearing on Proposed National Specialty 24.9% Rate Increase

The Florida Office of Insurance Regulation will conduct a virtual rate hearing this week on a proposed 24.9% rate increase filed by National Specialty Insurance Co. for its homeowners multi-peril lines of business. Velocity Risk Underwriters, LLC is the Florida … from News – Insurance Journal https://ift.tt/3tHwnWr

One Month Later, Boil Water Advisory Lifted for Jackson, Mississippi Residents

After 30 days of boiling their water to get rid of contaminants and sometimes no water at all, Jackson residents are finally able to drink the water from the tap after officials lifted a boil water advisory put in place … from News – Insurance Journal https://ift.tt/3cSZX4G

San Antonio Hotel Accused of Price-Gouging in Storm

A San Antonio hotel owner has been sued and accused the operator of price-gouging during last month’s storm that left millions of Texans without power and heat during sub-freezing temperatures, the state attorney general’s office said. The attorney general accuses … from News – Insurance Journal https://ift.tt/3f3T2Z0

Former Kansas Insurance Agent Sentenced in Fraud Case

A former Johnson County, Kansas, insurance agent has been sentenced to 24 months of probation on insurance fraud charges and ordered to repay nearly $86,000 in restitution, Kansas Attorney General Derek Schmidt said. Armond R. Peghee, 42, pleaded guilty in … from News – Insurance Journal https://ift.tt/312XAXc

Trinity Healthshare to Stop Operating in Iowa After ‘Unauthorized Insurer’ Charges

Trinity Healthshare Inc. (now known as Sharity Ministries Inc.) has agreed cease operating in Iowa on June 30, 2021, the state insurance division reported. The Iowa Insurance Division says Trinity has agreed to cease operations in Iowa following charges that … from News – Insurance Journal https://ift.tt/2OQor6n

School Bus Crash Leads to Arrest, Insurance Fraud Charges in Louisiana

Three men have been charged with insurance fraud violations after an investigation into a two-vehicle accident involving a private school bus, Louisiana State Police. The LSP arrested 44-year-old Michael Simon of New Orleans after an LSP Insurance Fraud/Auto Theft Unit … from News – Insurance Journal https://ift.tt/3r2jIM0

Officials Say Oregon Dam Could Fail in Large Earthquake

The U.S. Army Corps of Engineers has determined that a large earthquake, which is expected to occur again in the Pacific Northwest sooner or later, could cause the spillway gates of a dam in Oregon to buckle, resulting “in a … from News – Insurance Journal https://ift.tt/3sfJ7U9

California Lawsuit Says Deputies Shared Grisly Bryant Photos

Kobe Bryant’s widow, Vanessa Bryant, on Wednesday posted the names of four Los Angeles County sheriff’s deputies she alleges shared graphic photos from the site of the helicopter crash that killed her husband, their daughter, Gianna, and seven others. Bryant’s … from News – Insurance Journal https://ift.tt/3s3y2Fu

California Attorney General Challenges Housing Plans in Wildfire Areas

California’s attorney general is challenging some of the state’s largest suburban development projects as local officials weigh the risk of increasingly devastating wildfires against the state’s dire need for more housing. Attorney General Xavier Becerra on Wednesday backed lawsuits opposing … from News – Insurance Journal https://ift.tt/3vKhpRh

Safety Agency Has 23 Active Tesla Crash Investigations

The U.S. auto safety agency disclosed on Thursday it has opened 27 investigations into crashes of Tesla vehicles, 23 of which remain active, and at least three of the crashes occurred in recent weeks. The National Highway Traffic Safety Administration … from News – Insurance Journal https://ift.tt/3vERSJj

Seresto Defends Flea, Tick Collars for Dogs As Safe Amid Calls for Recall

Elanco Animal Health Inc said on Friday it was backing the safety of its popular pet collars to repel flea and ticks after a Congressional subcommittee asked for the product to be recalled following reports linking it to hundreds of … from News – Insurance Journal https://ift.tt/3tyiVEn

The Massachusetts Bay Transportation Authority to Conduct Safety Inspections

The MBTA is temporarily pulling some of its newer subway cars out of service so it can conduct safety inspections after a derailment this week. The Massachusetts Bay Transportation Authority said it was pulling its next generation Orange Line cars … from News – Insurance Journal https://ift.tt/3vFuqM7

Stateline Insurance & Financial Services Joins Thompson Insurance Group

Stateline Insurance & Financial Services of East Providence, Rhode Island has joined Thompson Insurance Group. By merging with Thompson, Stateline customers will receive access to a greater insurance company portfolio and services with improved technology, according to a Thompson Insurance … from News – Insurance Journal https://ift.tt/3vK6ZBs

Reinsurance Rendez-Vous de Septembre Canceled Again – on Pandemic Concerns

The organizers of the reinsurance Rendez-Vous de Septembre (RVS) have decided to cancel this year’s conference as a result of the ongoing public health crisis caused by the pandemic. “The pandemic is ongoing, but there is hope that the health … from News – Insurance Journal https://ift.tt/3tzIyoe

UK Expects to Agree to Financial Services Pact with EU by End of March

Britain expects to seal a financial services cooperation pact with the European Union shortly, a senior finance ministry official told a conference on challenges from market fragmentation. The City of London’s ties with the bloc were severed after Britain left … from News – Insurance Journal https://ift.tt/2OFfOvD

Zurich Debuts Global Business Unit Focused on Evolving Risks

Zurich Insurance Group created a new business unit designed to help customers address evolving risks. The global business unit, Zurich Resilience Solutions, is designed to provide services that help compliment traditional insurance products and make a customer’s business more resilience. … from News – Insurance Journal https://ift.tt/30UyHgy

AM Best Signs Up to UN Principles for Sustainable Insurance, in Ratings Agency First

AM Best became a signatory of the United Nations Environment Programme’s (UNEP) Principles for Sustainable Insurance (PSI). The insurance industry plays an important role in supporting sustainable economic and social development, said AM Best. Further, management of environmental, social and … from News – Insurance Journal https://ift.tt/3s1tGP2

Lawmakers Look to Spruce Up Gig Work Rather Than Replace It

Last week in Washington, the Democratic-controlled U.S. House passed a sweeping labor law overhaul that would make it much easier for gig workers to prove they’re actually employees with full-fledged union rights, rather than contractors as their bosses claim. Two … from News – Insurance Journal https://ift.tt/3ttBSYO

Chubb’s Offer to Acquire Rival Hartford: $23.24 Billion

Property and casualty insurer Chubb Ltd. on Thursday offered to acquire smaller rival Hartford Financial Services Group Inc in a $23.24 billion cash-and-stock deal. Chubb’s $65 per share offer represents a premium of 13.2% to Hartford’s last close of $57.41. … from News – Insurance Journal https://ift.tt/3r8iGOQ

UK Broker Specialist Risk Group Lures Team of 16 from AFL, led by Ex-AFL CEO Bines

Specialist Risk Group, a London-based insurance broker, have hired a team of 16 from AFL Insurance Brokers, led by Jonathan Bines, AFL’s former CEO. SRG said this announcement marks its first London market team hire of the year and is … from News – Insurance Journal https://ift.tt/2QgcSFX

Pandemic pushes Ecclesiastical to 2020 loss

GWP in the UK and Ireland business grew by 7.6% while its COR worsened to 92.5%, as broking division saw modest profit rise. from Insurer - insuranceage.co.uk https://ift.tt/3ltk4u7

Greensill Capital Creditors, Led by Softbank, Submit More Than $1.4 Billion in Claims

SYDNEY – Thirty-four creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, submitted over A$1.75 billion ($1.35 billion) in claims to the company, administrators said on Friday. About $1.15 billion of that was made … from News – Insurance Journal https://ift.tt/3eV9fzv

Tokio Marine Faces Larger-Than-Expected Exposure to Greensill Capital Meltdown

Tokio Marine Holdings Inc. is facing a larger-than-expected exposure to the Greensill Capital meltdown after finding that reinsurance contracts intended to limit losses didn’t cover its unit that did the most business with Greensill. Tokio’s Australia Bond & Credit Co. … from News – Insurance Journal https://ift.tt/3tAwsLt

$8M Jury Award in ‘Walking Dead’ Stuntman’s Death Tossed Out by Court

An appeals court has thrown out an $8 million jury verdict awarded to the family of a stuntman who was fatally injured while filming an episode of “The Walking Dead” in 2017. The Georgia Court of Appeals ruled that civil … from News – Insurance Journal https://ift.tt/3r1qmlF

Citizens’ CEO: Florida Property Insurance Market is Shutting Down

Florida’s insurer of last resort, Citizens Property Insurance Corp., has become the insurer of first resort as thousands of new policies flood into it each week and the private homeowners insurance market continues its downward spiral. “The reality is the … from News – Insurance Journal https://ift.tt/3qYZHGk

The Liberty Company Insurance Brokers Adds Kaiser, English in California

The Liberty Company Insurance Brokers has named Bethany Kaiser a Senior vice president in the Bakersfield, Calif. office. The firm has also named Brian English a vice president in the Bakersfield office. Kaiser has more than 25 years of experience … from News – Insurance Journal https://ift.tt/3bZVf5O

ShoreOne Appoints Hoover as CMO to Lead Coastal State Expansion Effort

ShoreOne has appointed Ben Hoover as chief marketing officer. Hoover will lead the marketing and distribution strategy for ShoreOne’s growth along the Atlantic Seaboard. Hoover, who has previous underwriting and distribution experience with large MGAs, will work with a select … from News – Insurance Journal https://ift.tt/38V4l1Y

Oakland Spent $13.4 Million on Ghost Ship Legal Defense

The city of Oakland spent $13.4 million in legal fees to defend itself against the Ghost Ship warehouse fire civil lawsuit, newly released documents show. The legal fees, contained in billings obtained by the East Bay Times through a Public … from News – Insurance Journal https://ift.tt/30W9S3O

90% of California Can Dine Indoors, Go to Movies, Gym

A year after the pandemic forced California to shut down, about 90% of the state’s nearly 40 million residents can enjoy a restaurant meal indoors, watch a movie in a theater and sweat it out inside a gym after more … from News – Insurance Journal https://ift.tt/3qZqQJ8

Inmate Suits Blame California Corrections for Spreading Virus

The family of a 61-year-old California inmate who died of the coronavirus sued state corrections officials Tuesday, blaming a botched transfer of infected inmates to San Quentin State Prison that killed 28 inmates and a correctional officer last year. Daniel … from News – Insurance Journal https://ift.tt/3cDxpvC

South Korea Defends Mandatory COVID Testing of Foreign Workers

SEOUL- Authorities in the South Korean capital defended on Thursday a decision to order coronavirus tests for all foreign workers on penalty of fines, as calls grew for the controversial measure to be rescinded. At least one lawmaker of the … from News – Insurance Journal https://ift.tt/2QeslGB

Britain Says Financial Services Agreement With EU Should Come Soon

Employment Practices Insurance in Age of COVID, Vaccines, Shutdowns and Hard Market

Overall trends for the past 30 years in the employment practices liability insurance market have been influenced by society and culture. As concerns over racial and disability discrimination, sexual harassment, gender inequality, wage-and-hour enforcement, and now COVID ebb and flow, … from News – Insurance Journal https://ift.tt/2OMlV0X

Amazon Begins Offering Its Virtual Health, Pharmacy Services to Other Businesses

Amazon.com Inc. is expanding its virtual healthcare service to other Washington-state employers starting Wednesday and to its own employees nationwide this summer, the company said in a press release. Piloted in September 2019 for staff near its Seattle headquarters, “Amazon … from News – Insurance Journal https://ift.tt/3qYsZVA

Munich Re’s Transportation, Logistics Specialty Broker Roanoke Expands to Canada

Roanoke Insurance Group is expanding to Canada to provide insurance and surety bonds to companies involved in logistics, transportation and shipping. The new entity, Roanoke Insurance Group Canada, Inc., (RIG CA), is an affiliate of Roanoke Insurance and part of … from News – Insurance Journal https://ift.tt/3qXPCtb

$1.9M Available to Help Vermont Public Schools Meet Stormwater Rule

More than $1.9 million will soon be available to help Vermont public schools and state colleges in the Lake Champlain basin meet a new stormwater regulation to reduce pollution from entering the lake, the Vermont Department of Environmental Conservation said … from News – Insurance Journal https://ift.tt/3eWCouf

People Moves: 15 - 21 March 2021

A round-up of market moves in the UK insurance space. from Insurer - insuranceage.co.uk https://ift.tt/3r0Q4a1

Buffalo Public Schools Hit by Ransomware Attack

Buffalo Public Schools were forced to cancel remote learning Friday because of a ransomware attack, the district said. The attackers had not made any demands by late Friday afternoon as the FBI and district experts investigated. “We are in the … from News – Insurance Journal https://ift.tt/3qVRti1

Pennsylvania Cheerleader’s Mom Accused of Making ‘Deepfakes’ of Rivals

A Pennsylvania woman is accused of doctoring photos and video of her daughter’s cheerleading rivals to try to get them kicked off the squad, officials said. The Bucks County District Attorney’s Office last week charged Raffaela Spone, 50, with three … from News – Insurance Journal https://ift.tt/3qTXwnr

EU Threatens to Ban COVID Vaccine Exports to Britain

BRUSSELS – The European Union threatened on Wednesday to ban exports of COVID-19 vaccines to Britain to safeguard scarce doses for its own citizens facing a third wave of the pandemic that would jeopardize plans to restart travel this summer. … from News – Insurance Journal https://ift.tt/3lrlNzU

Assessing Delegated Underwriting Authorities, MGAs: AM Best Explains

Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general underwriters, program administrators and other underwriting agencies. These specialized distribution partners have not … from News – Insurance Journal https://ift.tt/30VdC5K

Zurich launches global risk service

Provider says the new offering was developed to meet demand from businesses for risk prevention and mitigation services and is available to UK brokers of all sizes. from Insurer - insuranceage.co.uk https://ift.tt/3lE1orL

Swiss Re Corporate Solutions, Coalition Sign Multiyear Cyber Coverage Agreement

Swiss Re Corporate Solutions and Coalition, a provider of cyber insurance and security, have signed a multiyear agreement to provide broad cyber insurance and technology errors & omissions insurance to small and midsize organizations throughout the U.S. and Canada. Financial … from News – Insurance Journal https://ift.tt/3cIXZn9

Former Michigan Agent Sentenced for Embezzling from Client; Must Repay $70K

A Michigan former insurance agent charged with embezzling from an elderly client has been sentenced to 36 months’ probation – with six months under house arrest – and ordered to pay restitution, state officials announced. Michigan Attorney General Dana Nessel … from News – Insurance Journal https://ift.tt/30RX7r5

Tesla Drives Under Semitrailer in Detroit; Feds to Investigate Crash

The U.S. government’s highway safety agency is sending a team to Detroit to investigate a crash involving a Tesla that drove beneath a semitrailer. The National Highway Traffic Safety Administration said that a special crash investigation team would go to … from News – Insurance Journal https://ift.tt/38SCdMK

2.3% Rate Hike for Louisiana Citizens Property Insurance Approved

Louisiana’s property insurer of last resort will raise personal property insurance rates by 2.3% this year, the state insurance department said. The increase is in line with current inflation rates and evidences stability and appropriate rates in Louisiana’s residential insurance … from News – Insurance Journal https://ift.tt/3txXqna

Britain Targets Big 4 Auditors, Company Directors With Reform Proposals

Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors would have to repay their bonuses if the company went … from News – Insurance Journal https://ift.tt/3tunAHi

Analysis: SEC’s Crackdown on Climate Risk Disclosure Easier Said Than Done

With Democrats at the helm, the U.S. securities regulator is pledging to crack down on companies and funds that mislead investors over climate change risks, but that may be easier said than done, more than a dozen attorneys and former … from News – Insurance Journal https://ift.tt/3vAw4P5

Cannabis Broker Spotlight: Tobin with Bolton & Co. Works to ‘Become a Master Student’

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for … from News – Insurance Journal https://ift.tt/2Q8FVv6

Next Insurance Targets Businesses That Sell and Buy on Amazon

In partnership with Amazon, digital small business insurer Next Insurance is offering insurance to businesses that are buyers or sellers on the popular Amazon e-commerce site. The insurer is targeting members of Amazon Business Prime that use Amazon as their … from News – Insurance Journal https://ift.tt/3vzsEMl

Firefighter Trainee Dies After Being Stricken in Upstate New York

A 21-year-old man who suffered a medical emergency during firefighter training in upstate New York died nine days after being stricken. Peyton Morse died at Guthrie Hospital in Sayre, Penn., according to fire officials. He had been training to become … from News – Insurance Journal https://ift.tt/3eQpkGW

Reuters Exclusive: Safety Regulators Reviewed Concerns Over GM Steering Sensor

U.S. automotive safety regulators reviewed evidence related to an allegedly defective steering sensor that was used in roughly 778,000 older General Motors Co vehicles but ultimately decided against opening a formal investigation into the matter. The National Highway Traffic Safety … from News – Insurance Journal https://ift.tt/2OKZDwB

Reuters Special Report: Suit Over Deadly Crash Renews Spotlight on GM Safety

On a clear afternoon in November 2014, Glenda Marie Buchanan set off in her silver Chevrolet Trailblazer SUV from her home in rural Georgia. Several minutes into the drive, she started veering off the road. Buchanan swerved left and lost … from News – Insurance Journal https://ift.tt/3cG2UFA

AM Best Plans to Deliver Assessments of MGAs, Other Delegated Authority Entities

With the volume of premium generated by managing general agents and other delegated underwriting authority enterprises (DUAEs) rocketing skyward in recent years, AM Best had decided it is time to deliver assessments of these entities. “What we’ve seen is really … from News – Insurance Journal https://ift.tt/2OXk09I

Cyber Insurance Firm Coalition Raises $175M; Plans Commercial Lines Expansion

Coalition, a cyber insurance managing general agency and security company, said it has raised $175 million to accelerate its growth and global expansion. The firm said it will use the funds to expand internationally as well as into other commercial … from News – Insurance Journal https://ift.tt/3tt0HnF

The Insuring Cyber Podcast Episode 9: Returning to the Early Days of Cyber Coverage

With the sophistication of cyber attacks, claims growth, and now, a global pandemic driving an increasing number of businesses toward remote work, it’s no question the cyber insurance industry has had to evolve rapidly since its onset. However, Steve Robinson, … from News – Insurance Journal https://ift.tt/3bUO5zF

GrovesJohnWestrup Private Clients launches with digital broker platform

The business is backed by Munich Re and will initially focus on UK property, including main residences, holiday homes, second residences and let properties. from Insurer - insuranceage.co.uk https://ift.tt/3qW8Saz

‘Green’ Investment Funds Less Vulnerable to Climate-Related Shocks: EU Watchdog

Funds that invest in “brown” or polluting companies would be hit far harder than environmentally friendly “green” funds in a climate-related market shock, the European Union’s securities watchdog said on Wednesday in its first study of its kind. The European … from News – Insurance Journal https://ift.tt/3eLPA51

Passengers Recall COVID Deaths, Confusion, Quarantine Aboard Cruise Ships

SAN FRANCISCO (AP) — The last vacation Margrit and Lucio Gonzalez took together began with an ominous delay: a medical emergency on the cruise ship they were set to board. After a four-hour wait, the couple of 51 years got … from News – Insurance Journal https://ift.tt/3cIO8O7

Nexus-owned Xenia buys Status Credit

Deal will see the East Sussex-based trade credit broker become part of Xenia in April. from Insurer - insuranceage.co.uk https://ift.tt/3tuSrU9

Specialist MGA CFC Acquires Australian Cyber Security Firm, Insane Technologies

CFC, a specialist managing general agent, announced it has acquired Insane Technologies, an Australian cyber security and incident response provider. Financial details of the transaction were not disclosed. The deal is subject to approval by the Australian Foreign Investment Board. … from News – Insurance Journal https://ift.tt/3vBXyUe

Xenia Broking to Acquire Status Credit Insurance Brokers in UK

Xenia Broking Group, the credit insurance and surety specialist, announced it has entered into an agreement to acquire Status Credit Insurance Brokers Ltd., a specialist trade credit broker, headquartered in East Grinstead, England. The transaction will complete in April 2021, … from News – Insurance Journal https://ift.tt/3rWesLg

Florida Insurers Sustain ‘A’ Ratings, For Now, As 2020 Industry Losses Top $1.5B

Ratings agency Demotech has affirmed the ‘A’ ratings of the Florida homeowners carriers it rates, which account for approximately 66% of the state’s market, after review of 2020 year-end and projected Q1 2021 results. However, Demotech warned of tough times … from News – Insurance Journal https://ift.tt/3eOCt3i

Italy’s Generali Eyes €2B Acquisition in Russia: News Report

MILAN – Italy’s biggest insurer Generali is studying an acquisition in Russia worth nearly 2 billion euros ($2.4 billion), Il Sole 24 Ore daily reported on Wednesday. The paper said Generali was looking at a company active mainly in the … from News – Insurance Journal https://ift.tt/2Qd4bwi

Uber Reclassifies 70,000 UK Drivers as Workers, Providing Minimum Wage, Benefits

Uber Technologies Inc. will reclassify all 70,000 of its UK drivers as workers, entitling them to the minimum wage, vacation pay and other benefits after a landmark ruling from the Supreme Court last month. The ride-hailing app’s drivers will receive … from News – Insurance Journal https://ift.tt/3eMDCrQ

Keystone Agency Investors Partners with Texas’ Garrett Insurance Agency

Pennsylvania’s Keystone Agency Investors (KAI) has partnered with Kerrville, Texas-based Garrett Insurance Agency to facilitate KAI’s entry into that state. Founded in 1918, Garrett Insurance Agency is an independent insurance agency offering a comprehensive suite of personal, commercial, group health … from News – Insurance Journal https://ift.tt/3tnWRvS

Lockton Names Tran Senior Vice President in Washington

Lockton Cos. has named Peter Tran a senior vice president in its Washington practice. Tran was most recently a vice president and real estate practice group lead with Seattle brokerage Parker, Smith & Feek. He has 20 years of experience … from News – Insurance Journal https://ift.tt/3qWJ5il

People Moves: Institutes’ Horowitz; Rizzuto from Travelers to IAT; BHSI Adds AIG’s Freid; Ryan Re Leaders

Horowitz Promoted at The Institutes Katherine Horowitz has been promoted to executive vice president and head of Business Units at The Institutes. Horowitz will oversee the growth and strategic direction of multiple business units as well as continue to lead … from News – Insurance Journal https://ift.tt/2ODKsFq

Female Firefighters Turn to Courts to Fight Gender Discrimination

WINSTON-SALEM, N.C. (AP) — The highest ranking female firefighter in Asheville, North Carolina, says she was repeatedly discriminated against because of her sex and fought to keep her job while battling breast cancer. The first female chief of a municipal … from News – Insurance Journal https://ift.tt/2QeuW3t

Pedestrian Deaths Continue to Rise in Texas

Transportation officials warn that pedestrian deaths are continuing to increase in Texas, and now account for 1 in 5 of all traffic fatalities. Traffic crashes took the lives of 3,150 pedestrians in Texas from 2015 to 2019, according to the … from News – Insurance Journal https://ift.tt/2QclwWa

8K Gallons of Milk Spilled in North Dakota Truck Crash

Authorities say a semi-trailer hauling milk crashed in central North Dakota over the weekend and spilled nearly 8,000 gallons of milk. The North Dakota Highway Patrol says the truck went in the ditch about 4 miles south of Wing about … from News – Insurance Journal https://ift.tt/3rVD8Ud

Cluster of Earthquakes Rattles South-Central Kansas

A cluster of earthquakes with epicenters in east Wichita have rattled south-central Kansas over two days, the strongest one about a magnitude 3.9. The Kansas Geological Survey reported on its website five quakes Sunday and three Monday. The shaking started … from News – Insurance Journal https://ift.tt/2ODf9uo

Homes Damaged by Kansas Tornado

Severe thunderstorms rolled through the Kansas City area on March 15, spawning at least one brief tornado touchdown that damaged homes and downed fences and tree limbs. The National Weather Service said on Twitter that law enforcement reported a tornado … from News – Insurance Journal https://ift.tt/2Q7FlxD

Credit Suisse Investors Express Concern About Fallout from Greensill Collapse

ZURICH — Credit Suisse warned it may have to book a charge over its dealings with Greensill, as scrutiny grows over its relationship with the British finance firm that collapsed into insolvency. The Swiss bank has had to close around … from News – Insurance Journal https://ift.tt/3tv4rVP

Purdue Pharma Bankruptcy Plan Proposes Public Trusts to Settle Opioid Lawsuits

Purdue Pharma LP filed a bankruptcy plan on Monday that would resolve thousands of opioid lawsuits by restructuring the OxyContin maker into an entity that would steer profits to plaintiffs and require the company’s Sackler family owners to contribute nearly … from News – Insurance Journal https://ift.tt/3lxr3SV

TransRe CEO Sapnar to Step Down, Succeeded by Brandt

TransRe President and CEO Mike Sapnar is leaving the company to pursue another opportunity. He’ll stay on the job through April 30 to help with the transition. Ken Brandt, currently TransRe’s co-president of Global Underwriting, will succeed him. A member … from News – Insurance Journal https://ift.tt/3vxWhO3

Oliver Wyman Predicts COVID Herd Immunity for U.S. by Mid-Summer

The U.S. will reach herd immunity threshold when more than 71% of the U.S. population has been exposed to COVID or effectively vaccinated against it, most likely by mid-summer, says a management consultant firm that has been tracking COVID cases. … from News – Insurance Journal https://ift.tt/3qPczi1

Marsh & McLennan Drops &

In what the company acknowledges is a small branding change, professional services and insurance firm Marsh & McLennan has dropped the ampersand to become Marsh McLennan. The company says the change is meant to emphasize that Marsh McLennan is a … from News – Insurance Journal https://ift.tt/3bQTt6X

Insurance Industry Groups Join Forces to Help UK Career-Break Women Return to Work

Nine leading insurance industry businesses announced the creation of a program in the UK that will enable “career-break” professionals to return to work. The program will enable participating firms to tap into the “forgotten army” of experienced women who are … from News – Insurance Journal https://ift.tt/3bSCaCu

Peach Pi launches product aimed at wellbeing and lifestyle sector on Acturis

The new e-trade offering, sold via brokers, provides cover for freelancers and small businesses in allied health professions such as audiologists, chiropodists and opticians, as well as complementary therapy, beauty and fitness. from Insurer - insuranceage.co.uk https://ift.tt/3qRluQe

Credit Suisse Risk Officer Discovered in February Greensill’s Insurance Would Expire

ZURICH – Credit Suisse’s Chief Risk and Compliance Officer Lara Warner was not aware until late February that insurance related to British finance firm Greensill could expire on March 1, a spokeswoman said on Tuesday. “Contrary to certain reports, the … from News – Insurance Journal https://ift.tt/3vtHLXJ

Hundreds of Flights Canceled During China’s Worst Sandstorm in Decade

BEIJING – China’s capital and a wide swath of the country’s north were enveloped Monday in the worst sandstorm in a decade, leading to the cancellation of hundreds of flights. Skyscrapers in the center of Beijing appeared to drop from … from News – Insurance Journal https://ift.tt/30KZOdF

Allianz adds to broker offering

The insurer wants to help brokers establish a network of Mental Health First Aiders. from Insurer - insuranceage.co.uk https://ift.tt/30Nrjn4

Private Equity Firm BC Partners Nears Deal to Buy Insurance Service Company Davies

BC Partners is nearing a deal to acquire Davies in a transaction valuing the London-based insurance service company at about 1.2 billion pounds ($1.7 billion), including debt, people familiar with the matter said. The private equity firm, which manages more … from News – Insurance Journal https://ift.tt/3bQKwdZ

Oklahoma House Unanimously Passes Cybercrime Bill

A bill to address a growing trend of cybercrime unanimously passed the Oklahoma House of Representatives on March 10 with a vote of 92 to 0. House Bill 1759, authored by Rep. Trish Ranson, D-Stillwater, updates language in the Oklahoma … from News – Insurance Journal https://ift.tt/3eK83PI

Who Will Pay for the Freeze and Subsequent Meltdown in Texas?

Today in Texas homes and businesses, the lights are on and clean water flows. But for one week in February, the entire state of Texas was brought to its knees by a massive winter storm creating such a demand for … from News – Insurance Journal https://ift.tt/3rSf3O2

Alabama Orders Company to Quit Spreading Poultry Waste

Alabama authorities have ordered an out-of-state company to stop spreading poultry waste at one of its operations amid complaints about the odor. Environmental groups have also expressed concerns about the waste – which is spread as fertilizer – reaching a … from News – Insurance Journal https://ift.tt/2OsQ5qb

Florida Senate Weighs Legal Immunity Against COVID lawsuits

A measure that would shield businesses from COVID-related lawsuits could make it before the Florida Senate later this week, providing another key test for a measure that supporters assert will protect against frivolous lawsuits but that critics worry could give … from News – Insurance Journal https://ift.tt/2OF39bM

Some States Still Weigh Mandating Business Interruption Coverage

Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have responded by filing legislation to … from News – Insurance Journal https://ift.tt/3eFxemp

Berkshire Hathaway Opposes Climate Change, Diversity Reporting Proposals

Warren Buffett’s Berkshire Hathaway Inc. on Monday urged the rejection of shareholder proposals that annual reports be produced about its efforts to address climate change and promote diversity and inclusion. The proposals were disclosed in Berkshire’s annual proxy filing, ahead … from News – Insurance Journal https://ift.tt/2Qa0k32

Washington Ticketing Firm to Pay $9M in Restitution

Seattle, Wash., ticketing company Brown Paper Tickets has agreed to pay $9 million in restitution to an estimated 45,000 customers. The Seattle Times reported the payments will go to ticket buyers owed refunds and event organizers owed box-office revenue largely … from News – Insurance Journal https://ift.tt/2Q0mi8s

Ride-Hailing Firms Uber, Lyft to Share Background Data on Deactivated Drivers

Uber Technologies Inc. and Lyft Inc. have created a program to share information about drivers and delivery people deactivated from their platforms for the most serious offenses, furthering a safety push by ride-hailing companies. The Industry Sharing Safety Initiative will … from News – Insurance Journal https://ift.tt/3eHDg5M

California Workers’ Compensation Institute Elects Board for 2021

Matthew Zender of AmTrust North America, who has served on the executive committee of the California Workers’ Compensation Institute since 2018, has been reelected to serve another one-year term as chairman of the CWCI’s board of directors. Joining Zender on … from News – Insurance Journal https://ift.tt/3vvdckf

Illinois Shipping Firm Cited, Fined $156K after Worker Suffers Severe Injuries

An Illinois-based container shipping company faces proposed penalties of $156,038 after an employee suffered a leg amputation and crushed pelvis when he fell off and was then run over by a powered heavy-lift vehicle used to move and stack steel … from News – Insurance Journal https://ift.tt/3tiOzFy

Texas Medical Practice to Pay $375K in Religious Discrimination, Retaliation Case

A Texas-based medical practice that federal officials say subjected employees to religious discrimination and retaliation will pay $375,000 to settle the case following a judgement by a federal court. Tim Shepherd M.D., P.A. and Bridges Healthcare, P.A., doing business as … from News – Insurance Journal https://ift.tt/3vwjKPA

Miller Appoints Aon Executive Simpson as Head of Bermuda

London-based broker Miller has appointed Charlie Simpson to lead its new platform in Bermuda. Simpson, who joins as head of Bermuda, will concentrate on growing the broker’s presence in the key re/insurance hub by launching a high-quality independent offering, initially … from News – Insurance Journal https://ift.tt/2NkoFC4

New Jersey Court Rules Against Artist Peter Max Over Damaged Works

A New Jersey appeals court on Thursday ruled against famed pop artist Peter Max in a dispute over millions of dollars’ worth of his works that were damaged in a warehouse during Superstorm Sandy. The German-born Max, whose distinctive psychedelic … from News – Insurance Journal https://ift.tt/3vqtIlJ

Acadia Insurance Appoints Grimes as Chief Financial Officer Succeeding Hamblen

Acadia Insurance, a Berkley company, has appointed Simone Grimes as chief financial officer. She succeeds Charlie Hamblen, who will retire later this year. Grimes has senior leadership experience in finance and insurance, previously working at PricewaterhouseCoopers (PwC), then as a … from News – Insurance Journal https://ift.tt/3vq3mA9

A U.S. Storm that Will Break Insurance Records – and Other February Storms, Quakes

February saw a spate of winter storms in the United States, including the period from Feb. 12-20, which will become the U.S. insurance industry’s costliest winter weather peril on record, according to insurance broker Aon plc in its monthly Global … from News – Insurance Journal https://ift.tt/3bNOQdX

How Everybody Ends Up Paying for Climate Crisis

Fallout from last month’s deadly deep freeze in Texas has quietly spread to people living hundreds of miles away. Minnesota utilities have warned that monthly heating bills could spike by $400, after the crisis jacked up natural gas prices across … from News – Insurance Journal https://ift.tt/38F8SFB

Investor Suit Alleges Tesla CEO Musk’s Tweets Violate SEC Pact

Tesla Inc. Chief Executive Elon Musk has been sued by a shareholder who accused him of violating his 2018 settlement with the U.S. Securities and Exchange Commission over his Twitter use. According to a complaint unsealed late Thursday in Delaware … from News – Insurance Journal https://ift.tt/3cpWQRe

Kansas Businesses Hurt by COVID Closures Could Get Help Under Bills

Businesses that were ordered to shut down or limit capacity because of the pandemic could receive financial relief under two bills in the state Legislature that would address pending litigation but have riled up county leaders who could be forced … from News – Insurance Journal https://ift.tt/3vq0FPf

Arch develops transport and logistics division

from Insurer - insuranceage.co.uk https://ift.tt/2OBvY93

Barriers to helping vulnerable customers highlighted

Insurance Care: CII members have revealed some of the difficulties they face when trying to help customers with additional needs. from Insurer - insuranceage.co.uk https://ift.tt/3lpJAAs

Scheme developed to help women return to insurance

Nine insurers and brokers have created a cross-sector returners programme to encourage more “career break” women to return to the insurance industry. from Insurer - insuranceage.co.uk https://ift.tt/3vssCWL

Arch Launches Transport and Logistics Insurance Division, Led by Argo’s O’Gorman

Arch Insurance International has announced the launch of a new transport and logistics insurance division and the appointment of Steve O’Gorman as head of Transport and Logistics, effective immediately. The new division offers a range of specialist and marine and … from News – Insurance Journal https://ift.tt/30GwOE0

UK Cyber Authority Urges Organizations to Install Microsoft Updates

LONDON – Britain’s cyber security body urged organizations to install the latest Microsoft updates as a matter of urgency on Friday, after the company became aware of flaws that make email servers vulnerable. “We are working closely with industry and … from News – Insurance Journal https://ift.tt/3lixQ2z

Study: Floridians in Flood Zones Underpaying for Flood Insurance by Average of 379%

If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon. That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on … from News – Insurance Journal https://ift.tt/3tnFlYD

Cantor to Take Over as CFO for Florida Peninsula as Lattanzio Retires

The Florida Peninsula Insurance family of companies announces the retirement of their chief financial officer, Francis L. Lattanzio. Lattanzio is a co-founder of Florida Peninsula Insurance Co. and has served as CFO since its inception in 2005. Effective immediately, Lattanzio … from News – Insurance Journal https://ift.tt/3eFNBzo

Nearly 1 Month Since Winter Storm, Water Restored to Mississippi City

Most people in Mississippi’s capital now have running water, more than three weeks after the majority of taps in the city of 161,000 went dry during a winter storm. Still, officials said Thursday that thousands will likely remain under a … from News – Insurance Journal https://ift.tt/38GI5Zn

Mississippi Supreme Court Orders Third Trial in Hyundai Wrongful Death Suit

The Mississippi Supreme Court is ordering a third trial in a wrongful death case, years after a jury told Hyundai Motor Company to pay millions of dollars to families of three people killed in a 1995 car crash. In a … from News – Insurance Journal https://ift.tt/3cuWh8V

Texas-Based BNSF Ordered to Pay $290K in Whistleblower Case

Federal labor officials have ordered Fort Worth, Texas-based BNSF Railway Co. to pay more than $290,000 in back pay, damages and fees, and reinstate an employee after an investigation found the worker’s rights were violated under the Federal Railroad Safety … from News – Insurance Journal https://ift.tt/3bIHUPc

$1.4B Shortfall Threatens Houston Area Flood Control Projects

Flood control projects approved by Houston area voters in 2018 in response to Hurricane Harvey are facing a $1.4 billion shortfall that could delay their completion, officials have announced. The projects in need of the most funding are in some … from News – Insurance Journal https://ift.tt/3bOwDgq

Video Surveillance Leads to Workers’ Comp Fraud Charges Against California Woman

Veronica Catalina Cortes-Ambrosio, 53, of Madera, Calif., was charged on two felony counts of insurance fraud after allegedly lying about physical limitations from an injury at work in an attempt to receive undeserved workers’ compensation benefits. An investigation by the … from News – Insurance Journal https://ift.tt/2OR7ngj

OSHA to Review COVID-19 Workplace Safety Enforcement Under Trump

Federal workplace safety regulators said on Friday they will revisit several COVID-19 related safety investigations performed during the Trump administration as part of a wider effort to better protect workers from the pandemic. The U.S. Occupational Safety and Health Administration … from News – Insurance Journal https://ift.tt/3bMBmza

5th Circuit Rejects ‘Legal Gotcha’; Says Insurer Must Pay for Harvey Damage

While Hurricane Harvey dumped 60 inches of rain on the Houston area in August 2017, the authority that operates the Lake Conroe Dam opened the floodgates to release water at a rate almost equal to the flow over Niagara Falls. … from News – Insurance Journal https://ift.tt/3vpiUV6

Internet Law Protects Video Platform From Church’s Bias Claim, Court Rules

Vimeo Inc. is immune to a lawsuit by a church whose account it deleted for promoting gay conversion, the federal appeals court in New York ruled, amid a battle over online speech. Church United and its president and founder, James … from News – Insurance Journal https://ift.tt/3voqv6b

South Dakota AG Pleads Not Guilty to Fatal Crash Charges

South Dakota Attorney General Jason Ravnsborg pleaded not guilty in an initial court hearing for three misdemeanor charges he is facing for striking and killing a man with his car last summer. The Republican attorney general did not appear at … from News – Insurance Journal https://ift.tt/30FCWMK

Minneapolis to Pay Floyd Family $27M to Settle Civil Lawsuit

The city of Minneapolis has agreed to pay $27 million to settle a civil lawsuit from George Floyd’s family over the Black man’s death in police custody, as jury selection continued in a former officer’s murder trial. Council members met … from News – Insurance Journal https://ift.tt/38WrGAn

Report: California Comp Virus Claim Volume Plummeted in February

The wave of COVID-19 claims that hit the California workers’ compensation system at the end of 2020 has subsided for the time being as the number of claims reported to the state Division of Workers’ Compensation for February fell to … from News – Insurance Journal https://ift.tt/30FjShC

Oregon Lawsuits Seek $1B From Pacific Power over Wildfires

Two new lawsuits filed in Marion County, Ore., seek more than $1 billion in damages from Pacific Power, claiming the utility’s negligence led to wildfires in the Santiam Canyon last year. The two lawsuits filed Wednesday represent over 100 people … from News – Insurance Journal https://ift.tt/3rLn73c

Ransom-Seeking Hackers Are Exploiting Flaws in Microsoft Email Software

Ransom-seeking hackers have begun taking advantage of a recently disclosed flaw in Microsoft’s widely used mail server software, the company said early Thursday – a serious escalation that could portend widespread digital disruption. The disclosure, initially made on Twitter by … from News – Insurance Journal https://ift.tt/2Opd5pU

Union Raises More Than $61K for Injured Shipyard Worker in Maine

The Machinists Union is providing more than $61,000 to help a shipbuilder recover from a gruesome injury at Bath Iron Works. Garrett Bailey was injured on Jan. 23, and the contributions came from a collection from Machinists Local S6 and … from News – Insurance Journal https://ift.tt/3eDAHC1

$245M Insurtech Funding Wrap-Up: Corvus, AgentSync, Cowbell Cyber, WeLab, Hi Marley