Insurance Wiki How

Violent spring storms packing high winds and large hailstones in Texas and Oklahoma on April 28 likely caused $3.5 billion in damage, according to Accuweather.com. Additionally, the National Weather Service confirmed an EF-1 Tornado was included within a wide swath … from News – Insurance Journal https://ift.tt/2RfGkg1

Firefighter Injured in Blaze at Eastern Missouri Chemical plant

A firefighter was injured on April 29 during a large fire at a chemical plant in eastern Missouri that forced evacuations in nearby neighborhoods. Fire personnel responded to the scene at the Manor Chemical Plant in Affton, where the fire … from News – Insurance Journal https://ift.tt/3e4KuQL

University of Hartford Wins 2021 Spencer-Rims Risk Management Challenge

During the RIMS LIVE 2021 Virtual Conference finale, RIMS CEO Mary Roth and RIMS President Ellen Dunkin announced the University of Hartford student team as the winner of the 2021 Spencer-RIMS Risk Management Challenge. Competing against 18 other universities from … from News – Insurance Journal https://ift.tt/3u7FOiF

Pennsylvania Regulator Asks Insurers To Assess Pandemic’s Impact in Rate Filings

The Pennsylvania Insurance Department has issued guidance for property/casualty insurers in the state to continue to assess the impact of the COVID-19 pandemic in rate filings. “Much has changed since the start of the pandemic, and there will be lasting … from News – Insurance Journal https://ift.tt/3e24eEx

People Moves: Berkley Re UK Names Himmer; RSG Transactional Risks Adds Schiener

W.R. Berkley Corp. named Clare Himmer as president of Berkley Re UK Limited, effective September 1, 2021. In the interim, Richard Fothergill will continue as Berkley Re UK’s CEO, with the expectation that, by the end of 2021, Himmer will … from News – Insurance Journal https://ift.tt/2QKsGRV

UK Supreme Court Urged to Allow Privacy Class Action Against Google

Blocking a proposed British class action against Google, that alleges it secretly tracked millions of iPhone users a decade ago, risks allowing big firms to behave with impunity, a lawyer told the Supreme Court on Thursday. Hugh Tomlinson, a lawyer … from News – Insurance Journal https://ift.tt/3xBa2wz

EU Seeks Review of GMO Rules for Gene-Edited Crops

BRUSSELS — The European Commission launched a review of EU rules on genetically modified organisms (GMOs) on Thursday, opening the door to a possible loosening of restrictions for plants resulting from gene-editing technology. Prompted by a 2018 ruling from the … from News – Insurance Journal https://ift.tt/3eGlIFL

New York Begins Probe Into Toxic Metals in Baby Food

New York’s attorney general said on Thursday she has opened a probe into whether baby food contains arsenic and other toxic metals, and asked four manufacturers to provide information on whether their infant rice cereal products are safe. In letters … from News – Insurance Journal https://ift.tt/3vtEuH6

PIB-owned Cobra "on track" to reach 2021 growth target

Following Les Brewin’s comeback into the industry, Insurance Age looks into what his ambitions are for Cobra, how the network has been "reinvented" since being taken over by PIB, and what CEO Andy Tedstone has in mind for the company's future. from Insurer - insuranceage.co.uk https://ift.tt/3t0G3dW

"No silver bullet" to fix industry reputation after BI backlash, says MGAA's Keating

Keating discusses the business interruption test case and the FCA's £7.5m special levy to recover the costs as he urges brokers, MGAs and insurers to pull together and rebuild trust in the sector. from Insurer - insuranceage.co.uk https://ift.tt/3u6QP3v

Liberty Mutual Weighing Options, Delays Australian Coal Mine Project

MELBOURNE — U.S. insurer Liberty Mutual will not be filing an environmental impact assessment for a coal project in Australia, it said on Friday, missing a deadline as it weighs alternatives for the proposed mine. Community groups worried about pollution … from News – Insurance Journal https://ift.tt/3xDQIyT

H.W. Kaufman Expands in Europe, Adding Amsterdam Office, London Healthcare Unit

U.S.-based specialty insurance firm H.W. Kaufman Group is expanding within Continental Europe through the opening of a new office in Amsterdam, the Netherlands, and the addition of a specialty healthcare insurance team in London. The new H.W. Kaufman Group Europe … from News – Insurance Journal https://ift.tt/2S7zdXc

CFC to Launch Lloyd’s Syndicate with Asta as Manager

LONDON — Specialty insurance underwriter CFC reported that Lloyd’s of London has given preliminary approval to the creation of CFC Syndicate 1988. The new syndicate will be managed by Asta Managing Agency Ltd. CFC and Asta said they are working … from News – Insurance Journal https://ift.tt/2S5svB1

Blog: Beware the hidden dangers of kerb appeal

As pubs, restaurants, and bars re-open with the use of outdoor areas and pavement seating, brokers need to ensure insurers are in the loop or risk disappointment when it comes to a claim warns Tom Hill, executive director at Aqueous Underwriting. from Insurer - insuranceage.co.uk https://ift.tt/3nzUZyt

Milwaukee Area Water Technology Facility Faces $234K in OSHA Penalties

Federal workplace safety officials have cited a water technology company after an employee was injured when a guardrail loosened and he fell and struck his head on a support beam as he lowered himself into a nearly 30-foot deep water … from News – Insurance Journal https://ift.tt/3u6JktD

Reno, Nevada, to Settle Lemmon Valley Flood Lawsuit for $4.5M

Reno, Nevada, city officials said they have reached a tentative agreement to pay $4.5 million to settle a lawsuit brought by residents whose homes in the community of Lemmon Valley were flooded north of town in 2017 after the city … from News – Insurance Journal https://ift.tt/3t7HEi9

Wisconsin’s M3 Insurance Unveils M3 Elevate for Small Businesses, Individuals

Madison, Wisconsin-based M3 Insurance (M3), an insurance broker and risk management firm with seven locations throughout Wisconsin and Illinois, has launched M3 Elevate (Elevate), a new division that encourages small business owners and leaders to think of insurance and benefits … from News – Insurance Journal https://ift.tt/3e5h6Kg

Texas Insured Who Paid Part of Settlement May Seek Recovery from Carrier

A woman who chipped in $100,000 toward a settlement after a car crash can sue her insurer to seek recovery of that cost, but cannot seek damages in excess of the policy limits for negligent failure to settle because there … from News – Insurance Journal https://ift.tt/3gW64ZH

Louisiana 2020 Hurricane Insured Claim Costs Still Rising

Insurers have increased by 25% since the end of last year estimates of the claims costs for three hurricanes that struck Louisiana in 2020, according to the state insurance department. The Louisiana Department of Insurance reported that insurance companies now … from News – Insurance Journal https://ift.tt/2QHtPd6

People Moves: InterWest Names Espinosa Senior Director in California, IMA Adds Washington to Executive Leadership

InterWest Insurance Services has named Brad Espinosa senior director in its surety division. He will be based in Sacramento, Calif., and report to Keith Schuler, president and CEO of InterWest Insurance Services. He has more than 12 years of experience … from News – Insurance Journal https://ift.tt/3t4QjlA

Watchdog Warns Rescinded Actuarial Principles Could Harm Consumers

U.S. regulators should strengthen their oversight of insurers to prevent potential overcharging and discrimination in selling coverage for cars and homes, a consumer watchdog group said on Thursday. The campaign by the Consumer Federation of America (CFA) comes after an … from News – Insurance Journal https://ift.tt/2PBMCWP

China Continues Crackdown on Fintech Firms

BEIJING — Chinese financial watchdogs on Thursday summoned 13 internet platforms engaged in finance business, including heavyweights Tencent and ByteDance, to order them to strengthen compliance with regulations, the central bank said. The move by the four regulators is part … from News – Insurance Journal https://ift.tt/3xChdV5

Settlement Reached in Lawsuit Against Affluent Montana Club

Dozens of Jamaican citizens recruited to work as cooks, servers and housekeepers at a Montana ski resort for the ultra-rich have reached a $1 million class action settlement over allegations they were discriminated against and paid less than other employees … from News – Insurance Journal https://ift.tt/3e9EtT3

Uber, Lyft, Other Gig Firms Worried About U.S. Push to Reclassify Workers as Employees

Under growing threat by a new U.S. administration insistent on reclassifying ride-hail and food delivery workers as employees with full benefits, gig economy companies including Uber, Lyft, Doordash and Instacart are pushing to keep drivers’ independent contractor status, albeit with … from News – Insurance Journal https://ift.tt/2R67i9H

HG Holdings to Acquire National Consumer Title Insurer From Southern Fidelity

North Carolina-based HG Holdings said it has agreed to acquire 100% of the equity of Florida-based National Consumer Title Insurance Co. from Southern Fidelity for for $5.5 million. The deal also includes 100% of the interest in National Consumer Title … from News – Insurance Journal https://ift.tt/3e18qo6

Sex Harassment Suit Against Oregon ‘TikTok Doc’ Settled for $585K

Oregon Health and Science University said it will pay $585,000 to settle a federal lawsuit filed by a social worker who accused a former anesthesiology resident of sexually assaulting her and the school of failing to act. The university said … from News – Insurance Journal https://ift.tt/3eHTMRD

Branch Insurance Expands Home, Auto Coverage to Colorado, Oklahoma

Columbus, Ohio-based Branch Insurance is now offering its home and auto insurance coverage in Colorado and Oklahoma. The company, which specializes in bundled home and auto coverage using technology and automation, said this expansion is its third state launch of … from News – Insurance Journal https://ift.tt/3e7UrwZ

D&O Line Still on Losing Track Despite Big Rate Hikes: Fitch

Record premiums haven’t been enough to reverse U.S. directors and officers (D&O) insurers’ underwriting losses, and the sector will still lose money in the near term as a result, Fitch Ratings said. Premium growth for D&O coverage has been significant. … from News – Insurance Journal https://ift.tt/3e7HXp7

CDC Promises Speedier Approvals for Restarting U.S. Cruises

Royal Caribbean Group said on Thursday it was aiming to restart its U.S. cruises in July after the U.S. Centers for Disease Control and Prevention (CDC) issued new measures to speed up approvals, sending its shares up 2.5%. Late on … from News – Insurance Journal https://ift.tt/3t1Hclt

London MGA Optio Acquires Nuclear Insurance Specialist MGA Northcourt

LONDON — Optio Group, a specialty managing general agency, said it has acquired nuclear risk specialist Northcourt for an undisclosed sum. Launched in 2010, Northcourt is an MGA licensed to underwrite nuclear property and liability risks globally, with clients across … from News – Insurance Journal https://ift.tt/3eAmbJu

Authorities Investigating Helicopter Crash in Northeastern Pennsylvania

Authorities were investigating a helicopter crash in northeastern Pennsylvania, the Federal Aviation Administration said. The wreckage of a Robinson R44 copter was found in a remote area of Wyoming after the agency had issued an alert about a missing aircraft, … from News – Insurance Journal https://ift.tt/3vroK7s

Treatment Facility Resident Charged with Arson in Connecticut Fire

A 27-year-old Connecticut man has been arrested on charges of setting fire to a building that housed a mental health treatment facility where he lived, police said. Firefighters and police officers were dispatched to a building in Clinton on Tuesday … from News – Insurance Journal https://ift.tt/3e0p5rJ

People Moves: Global Indemnity Group Names Charlton CEO; DUAL Hires Marchica; Floyd to Alera Group

DUAL Transactional Risk Hires Marchica as Vice President for New York Team DUAL Transactional Risk, the newest underwriting team at DUAL North America, has hired Megan Marchica as vice president for its New York-based team. In this role, Marchica will … from News – Insurance Journal https://ift.tt/3eDDAkB

Chubb CEO Sees ‘Outstanding’ Q1 and Lots of Options for Growth Without Hartford

Chubb reported sizable net income of $2.30 billion in the first quarter of 2021 versus $252 million for the prior year’s first quarter as the global insurer’s commercial property/casualty businesses continued to capitalize on favorable underwriting conditions with double-digit premium … from News – Insurance Journal https://ift.tt/3tbWFjb

U.S.-Style Google iPhone Privacy Case Viewed as a Landmark for UK Class Actions

A proposed multi-billion pound British class action against Google, which alleges the internet giant secretly tracked millions of iPhone users, is not viable and should not be allowed to proceed, the Supreme Court was told on Wednesday. Antony White, a … from News – Insurance Journal https://ift.tt/3eEoQSj

China Drafts Rules on Security of Data From Connected Vehicles

China published draft rules on Thursday to ensure the security of data generated by connected vehicles, as the proliferation of smart cars such as Teslas, fuels concerns about privacy and national security. Last month, U.S. electric car maker Tesla Inc. … from News – Insurance Journal https://ift.tt/3e25urd

Mulsanne v Marshmallow legal case to split

Court documents show the trial as to liability will take place this year after Mulsanne accused Marshmallow of stealing trade secrets. from Insurer - insuranceage.co.uk https://ift.tt/3nwaKqc

Chubb and Marsh collaborate on Covid-19 vaccine cover

The cover will be available to individuals in 92-lower income countries in case of serious adverse reaction to the jab. from Insurer - insuranceage.co.uk https://ift.tt/3e2TW7b

CFC creates Lloyd's syndicate

The syndicate has planned gross premium of over £100m for its first year of trading and will be managed by Asta Managing Agency. from Insurer - insuranceage.co.uk https://ift.tt/2Ra845q

People moves: 26 - 30 April 2021

The key job changes in the world of insurance this week. from Insurer - insuranceage.co.uk https://ift.tt/2QzbLC2

Gallagher takes South West lead from RSA

Richard Horne has been appointed as regional director for the region at Gallagher. from Insurer - insuranceage.co.uk https://ift.tt/3t0pVsL

Former Alabama Insurance Commissioner Mike Weaver Dies at 70

Mike Weaver, who served as Alabama Insurance Commissioner under Gov. Guy Hunt from 1988 to 1993, passed away Sunday after an extended illness. He was 70. Weaver was a longtime resident of Randolph County, a graduate of Randolph County High … from News – Insurance Journal https://ift.tt/3t4qRwp

Georgia Sheriff Accused of Civil Rights Violations in Federal Indictment

An Atlanta-area sheriff who’s no stranger to controversy is accused of violating the civil rights of several people in his agency’s custody by ordering that they be unnecessarily strapped into a restraint chair and left there for hours, according to … from News – Insurance Journal https://ift.tt/3e1rLW7

Unhappy Investor Caltagirone to Snub Generali Meeting

MILAN – Leading Generali investor Francesco Gaetano Caltagirone will snub its AGM on Thursday in the first public sign that the businessman is unhappy with the balance of power among shareholders, three sources close to the matter said. Tensions among … from News – Insurance Journal https://ift.tt/3xvztj3

EPA to Investigate U.S. Virgin Islands Refinery Incidents

The U.S. Environmental Protection Agency (EPA) plans to send experts and staff to a recently reopened U.S. Caribbean refinery as soon as this week to conduct an investigation, the agency said in a Tuesday statement after some residents said an … from News – Insurance Journal https://ift.tt/3t2tONV

Global Aviation Safety Campaign Targets ‘Bunch of Garbage’ to Ease Pilot Overload

When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of … from News – Insurance Journal https://ift.tt/2R6iTWf

Toyota Constructs a Sensor-Laden Entire City to Test Its Self-Driving Cars

In late February, Toyota Motor Corp. President Akio Toyoda gathered with a handful of Shinto priests in a white tent at the foot of Mount Fuji. The group prayed — as is customary when embarking on new builds in Japan … from News – Insurance Journal https://ift.tt/3gLpFLZ

Automakers Support Guidelines for Advertising Partially Automated Vehicles

DETROIT —The trade association representing most major automakers is offering guidelines for manufacturers to advertise partially automated driving systems and to make sure drivers are paying attention while using them. The Alliance for Automotive Innovation says its members support the … from News – Insurance Journal https://ift.tt/3e2vTFC

Texas Bill Would Require Disclosure on ‘Occupational Insurance’ Policies

Texas legislation requiring an occupational insurance policy to include a specified disclosure statement clarifying the policy is not a workers’ compensation policy has passed the state House of Representatives. House Bill 3769 by Rep. John Smithee, District 86, “amends the … from News – Insurance Journal https://ift.tt/3xxOCjJ

EU Set to Approve Aon-Willis Merger; More Concessions Unlikely: Reuters

Insurance broker Aon is set to gain conditional EU antitrust approval for its $30 billion bid for Willis Towers Watson without having to offer more concessions, people familiar with the matter said. Aon, which clinched the deal a year ago … from News – Insurance Journal https://ift.tt/3gLYctG

U.S. Supreme Court Hands Texas Insurers a Win in Air Ambulance Billing Battle

A 2020 decision by the Supreme Court of Texas that limits workers’ compensation air ambulance payments to what is “fair and reasonable,” has been allowed to stand by the U.S. Supreme Court, according to workers’ compensation insurer Texas Mutual. The … from News – Insurance Journal https://ift.tt/3gN3wge

Insurers Don’t Like New New Credit Scoring Ban in Washington, But Say They’ll Follow the Law

The American Property Casualty Insurance Association said it insurers will following the law where it concerns Washington Insurance Commissioner Mike Kreidler’s emergency regulation banning the use of credit-based insurance scores. Kreidler issued a reminder earlier this week that insurance companies … from News – Insurance Journal https://ift.tt/3nsjVYK

Security Firm ADT Accuses Rival Ring of Trademark Infringement Over Blue Signage

Long-time home security firm ADT is suing rival upstart Ring alleging the newcomer is violating its trademarks by using signage that is very similar to the blue octagon logo that ADT has used for decades. In using the similarly colored … from News – Insurance Journal https://ift.tt/3eDLlXF

Alera Group Acquires New Jersey’s Duryea Agency

Alera Group, a financial services and risk management company, has acquired Duryea Agency, an insurance agency providing personal insurance and business insurance for clients across New Jersey and beyond. Duryea Agency is a New Jersey-based insurance agency that offers products, … from News – Insurance Journal https://ift.tt/3t6cd84

Officials Say New York School District Hit by Cyber Attack

An Albany, New York-area school district is investigating a malware attack that forced students in grades 7 through 12 into all-remote learning on Monday, district officials announced. Officials at the Guilderland Central School District said on the district’s website that … from News – Insurance Journal https://ift.tt/3vqzdjE

Judge in California Tosses Suit of Man Who Alleged Jackson Molestation

A judge on Monday dismissed the lawsuit of a man who alleged that Michael Jackson sexually abused him as a boy. Los Angeles County Superior Court Judge Mark A. Young granted the Jackson estate’s request to dismiss the suit brought … from News – Insurance Journal https://ift.tt/3eSr7K3

P/C Insurance Firms Lead as Global Insurtech Investment Soars to $2.55B in Q1

Global investment in the insurtech sector reached a new quarterly high of US$2.55 billion during the first quarter of 2021. The number of mega-rounds reached eight, more than any other three-month period, according to the new Quarterly InsurTech Briefing from … from News – Insurance Journal https://ift.tt/3vvr25F

New York Warns of Supply Chain Attack Dangers in Recent SolarWinds Report

The next great financial crisis could come from a cyber attack. At least, that’s according to New York State Department of Financial Services (DFS) Superintendent Linda Lacewell in a statement regarding DFS’ recent report outlining its investigation into the SolarWinds … from News – Insurance Journal https://ift.tt/3aNqi3L

Fairfax Commits $5 Million for COVID-19 Relief in India

Fairfax Financial Holdings announced that it has made a commitment of US$5 million (approximately INR 37 crore) to fund initiatives to assist India with the recent surge in COVID-19 cases and the country’s urgent needs around the pandemic. The contribution … from News – Insurance Journal https://ift.tt/32UbBYa

Marsh McLennan Reports 9% Revenue Growth in Q1

MarshMcLennan reported financial results for the first quarter of 2021 that included consolidated revenue of $5.1 billion, an increase of 9% compared with the first quarter of 2020. Operating income was $1.4 billion compared with $1.1 billion in the prior … from News – Insurance Journal https://ift.tt/3dVhpHj

IMA Financial Group Acquires California’s Bolton

Denver-based insurance brokerage IMA Financial Group said it is expanding to California by acquiring Bolton & Co. in a transaction effective May 1, 2021. The combined brokerage firm will employ 1,200 associates and generate annualized revenues of more than $300 … from News – Insurance Journal https://ift.tt/3ntIjsV

3-Month TD Bank Trial in $4.5B Stanford Ponzi Scheme Closes

TORONTO — The three-month trial of a lawsuit against Toronto-Dominion Bank, in which the liquidators of the collapsed Antigua bank of former Texas financier Robert Allen Stanford are seeking $4.5 billion in damages, is expected to end on Wednesday. A … from News – Insurance Journal https://ift.tt/2R6v45g

Insuring Cyber Podcast: Social Engineering Risks Rising, but Cyber Coverage Still Lacks

The COVID-19 pandemic has upended the work environment in many ways, and cyber experts say one unfortunate result of the switch to remote work is an increase in cyber crime, particularly around social engineering threats. “The bottom line here is … from News – Insurance Journal https://ift.tt/3vqX82l

German Vaccine Maker Says Waivers for Vaccines Not Right Approach

The granting of intellectual property waivers is not the right way to increase output of COVID-19 vaccines, the founder of German vaccine maker BioNTech said on Wednesday, advocating instead the award of production licenses. Such waivers are among the options … from News – Insurance Journal https://ift.tt/3sXbKoj

ABI launches flexible working charter

Signatories, which include Aviva, Ageas, Allianz, Covea, Ecclesiastical, LV, and Zurich, commit to opening up the majority of their roles to flexible working, job sharing and part-time working. from Insurer - insuranceage.co.uk https://ift.tt/3t2wlaS

People Moves: Topa in California Names Torio Director of Tech, Resilience Names Reed EVP

Topa Insurance Co. has named Paul Torio director of technology. Torio is responsible for developing and delivering solutions across Topa’s technology infrastructure in support of business goals. He has worked at Topa for more than 15 years. Most recently, he … from News – Insurance Journal https://ift.tt/2R7DZDv

Insurers, Other Financial Firms Lag in Climate Disclosure for Investors

The world’s banks, asset managers and insurers should provide more information to investors about the greenhouse gas emissions from the activities they finance, a group that tracks emissions data said on Wednesday. CDP, which maintains a system used by hundreds … from News – Insurance Journal https://ift.tt/32UepER

UK Is First Country to Green Light Self-Driving Cars on Motorways

The UK government on Wednesday became the first country to announce it will regulate the use of self-driving vehicles at slow speeds on motorways, with the first such cars possibly appearing on public roads as soon as this year. Britain’s … from News – Insurance Journal https://ift.tt/3nuiEjL

SEC Eyes Guidance on SPAC Projections, Clarity on Liability Shield

U.S. securities regulator is considering new guidance to rein in growth projections made by listed blank-check companies, and clarify when they qualify for certain legal protections, according to three people with knowledge of the discussions. The previously unreported measures being … from News – Insurance Journal https://ift.tt/3dVWVy4

Kraken Hockey Team in Washington Sued by Punk Bar for Name

A Seattle, Wash., punk rock bar is suing the city’s new NHL hockey team for $3.5 million, saying the Kraken’s choice of a name and plans to open a restaurant are harming the Kraken Bar & Lounge, which opened a … from News – Insurance Journal https://ift.tt/3sW8WrO

Biden Administration Considering Intellectual Property Rights Waiver for COVID Vaccines

The White House is considering options for maximizing global production and supply of COVID-19 vaccines at the lowest cost, including backing a proposed waiver of intellectual property rights, but no decision has been made, press secretary Jen Psaki said on … from News – Insurance Journal https://ift.tt/3u1e4fk

Bankers Call for More ‘Bang’ to Boost London’s Competitiveness

LONDON — Shortly after Britain left the European Union, finance minister Rishi Sunak pledged a series of measures he dubbed “Big Bang 2.0” to ensure the City of London remained one of the world’s top financial centers. Four months on, … from News – Insurance Journal https://ift.tt/3eCV1l1

EU Inquires About 9 Potential Buyers of Assets in Aon-Willis Deal

BRUSSELS–EU antitrust regulators are asking Aon rivals and customers who is the best buyer for assets the insurance broker has offered to sell to address competition concerns about its $30 billion Willis Towers Watson bid, people familiar with the matter … from News – Insurance Journal https://ift.tt/3xvCcsC

Minnesota Nursing Home Fined $27K After Employee’s Coronavirus Death

A suburban Minneapolis nursing home has paid the state’s largest fine for a coronavirus-related safety violation after an employee contracted COVID-19 and died. State Labor Department inspection files show Sholom Community Alliance paid $27,100 in fines after David Kolleh died … from News – Insurance Journal https://ift.tt/32Sd4OR

Wisconsin Farm, Manure Spreader to Pay $242K for Pollution Violations

Wisconsin Attorney General Josh Kaul has reached a $242,000 settlement with a factory farm and a manure applicator to resolve pollution violations stemming from manure spills several years ago. Kaul announced the settlements with K&D Manure Handling Inc., its owner, … from News – Insurance Journal https://ift.tt/3xvcwwk

Hawaii Launching Program to Buy 2018 Eruption-Damaged Homes

Property owners on the Big Island who were affected by the 2018 Kilauea volcanic eruption can apply to have Hawaii County buy back their land starting next week. Hawaii County said the first phase of its Kilauea Disaster Recovery Voluntary … from News – Insurance Journal https://ift.tt/2Pulb12

Explosion at Gender Reveal Party Rocks Several New Hampshire Towns

One New Hampshire family’s gender reveal party was such a blast that it rattled towns, set off reports of an earthquake, and could be heard from across the state line, police said. Police in Kingston, a town not far from … from News – Insurance Journal https://ift.tt/3tWDxH5

Small Quakes Confirmed in Lake Tahoe Region of California, Nevada

A series of small earthquakes jolted the Lake Tahoe region of California and Nevada on Sunday, the U.S. Geological Survey confirmed. A 3.7 magnitude quake struck at 8:33 a.m. centered about 4.5 miles southeast of Dollar Point, California, the USGS … from News – Insurance Journal https://ift.tt/3sTKOpK

New Jersey to Bake Climate Change Risk Into Policies, Share Costs

New Jersey will incorporate the impacts of climate change and rising seas into all its major policy decisions in the near future, and will seek to share the costs of protecting the state among all levels of government and the … from News – Insurance Journal https://ift.tt/32TqlH2

Agency Start-up Sigo Serving Latinx, Immigrant Drivers Raises $1.5M

A start-up managing general agency focused on auto insurance for underserved populations including immigrants and Latin Americans has raised seed funding to help it launch an initial product. Sigo pulled in $1.5 million in financing from Amicle Capital, Bonded Capital … from News – Insurance Journal https://ift.tt/3dRMqvL

Delos Announces New Capacity for California Wildfire Areas

San Francisco, Calif.-based Delos Insurance Solutions announced an agreement with reinsurance companies that the firm said will result in a five-fold increase in insurance capacity for California homeowners in areas prone to wildfires. The new reinsurance capacity is provided by … from News – Insurance Journal https://ift.tt/3xmAmdP

Expert Explains Mental Health Report on Newspaper Gunman

A key expert for prosecutors in the Capital Gazette shooting testified Friday that the gunman’s methodical planning both for the attack and for after it indicate he is legally sane and criminally responsible for killing five people at the newsroom … from News – Insurance Journal https://ift.tt/3sU76HN

How Tech Firms From Amazon to YouTube Ban Users for Off-Site Behavior

Earlier this month, Twitch announced it would start banning users for behavior away from its site. The move by Amazon Inc.’s live-streaming platform involved hiring a law firm to conduct investigations into users’ misconduct, a new twist in the latest … from News – Insurance Journal https://ift.tt/3exlGjr

China Reports Tanker Crash, Oil Spill in Yellow Sea

BEIJING — China’s Shandong Maritime Safety Administration said on Tuesday that the tanker A Symphony, carrying around 1 million barrels of oil, has spilled oil in the Yellow Sea. The Suezmax tanker was last seen near the Qingdao port, live … from News – Insurance Journal https://ift.tt/3eypErR

Weighing Effects of Bolsonaro’s Intervention in Brazil’s State Insurance Firm IPO: Analysis:

SAO PAULO – The first IPO by a Brazilian state-controlled company under President Jair Bolsonaro’s government has emerged as a test of whether his penchant for intervening in the running of state-run firms will dampen investor interest in the Brazilian … from News – Insurance Journal https://ift.tt/3xpZ10V

IFB goes on attack over organised fraud

The Bureau is working with Shift Technology to build an AI-backed fraud detection system for the UK. from Insurer - insuranceage.co.uk https://ift.tt/3eD9TzW

Video: What the papers say

Insurance Age teams up with Applied Systems to bring you a new series looking at the top news stories in the insurance broking world. from Insurer - insuranceage.co.uk https://ift.tt/2QB2N71

Inperio unveils brokers' PI product

MGA says new offering is launched in response to rising rates and concerns about availability and affordability of cover after several providers introduced Covid-19 exclusions. from Insurer - insuranceage.co.uk https://ift.tt/3vhtqMY

Roadway Work Zone Fatalities Increased by 9% in Texas in 2020

The number of Texas work zone fatalities increased by 9% in 2020 compared to 2019, according to state transportation officials. Drivers and their passengers account for the majority of those who have died in work zone crashes. The Texas Department … from News – Insurance Journal https://ift.tt/3aI61wu

GEICO Must Pay $2.7M After Failing to Accept $30K Offer: Georgia Supreme Court

GEICO Indemnity Co.’s refusal to settle a bodily injury claim for $30,000 will cost it more than $2.7 million, under a ruling last week by the Georgia Supreme Court. The high court’s 7-0 decision answered three certified questions posed to … from News – Insurance Journal https://ift.tt/32ShGV6

Governor Signs Oklahoma Bill Allowing Third-Party Drivers License Examiners

Legislation allowing for state, county and municipal government agencies in Oklahoma to contract with third-party examiners for commercial drivers license (CDL) exams and other similar tests has been signed into law. House Bill 2183 was authored by Rep. Ronny Johns, … from News – Insurance Journal https://ift.tt/2R5cV7V

Shipping Containers Plunge Overboard as Supply Race Raises Risks

Containers piled high on giant vessels carrying everything from car tires to smartphones are toppling over at an alarming rate, sending millions of dollars of cargo sinking to the bottom of the ocean as pressure to speed deliveries raises the … from News – Insurance Journal https://ift.tt/3dUNa3b

Senators File Bill to Mandate Driver Monitoring Systems

Three Democratic U.S. senators on Monday said they are introducing legislation that would require U.S. regulators to mandate installation of driver-monitoring systems to ensure motorists pay attention while using systems like Tesla’s Autopilot. Senators Ed Markey, Richard Blumenthal and Amy … from News – Insurance Journal https://ift.tt/3vjQoDm

Integrated Specialty Coverages Launches Vacant Property Program

Integrated Specialty Coverages (ISC), a multi-line program administrator that builds end-to-end insurance products with artificial intelligence (AI) engineering and data analytics, has launched its Vacant Property Program (VPP), designed to address the increasing number of vacant residential and commercial properties … from News – Insurance Journal https://ift.tt/3npF1qz

Construction Firms Face Soaring Lumber Prices

Skyrocketing lumber prices threaten to thwart the momentum of the U.S. housing market, which for months has been one of the brightest stars of the recovery from the pandemic recession. At the onset of the health crisis, “the mills stopped … from News – Insurance Journal https://ift.tt/3xp3f9c

Tech Firm Luminar, Planemaker Airbus Partner to Test Autonomous Flights

Luminar Technologies Inc. said on Monday it would partner with Airbus SE to test technologies which could increase aircraft safety and ultimately enable an autonomous flight with obstacle detection. The two companies will work on enhancing aircraft sensing and perception, … from News – Insurance Journal https://ift.tt/3ew9y1V

Suez Canal Chief Hopes Insurer, Owner of Detained Cargo Ship Reach Deal

The head of the Suez Canal Authority (SCA) said on Monday he hoped talks would soon yield an agreement with the owner and insurer of a giant container ship which is still being detained since it blocked the waterway for … from News – Insurance Journal https://ift.tt/2R0RtRK

California Governor Wants Ban on New Fracking by 2024

Gov. Gavin Newsom said said California will stop issuing fracking permits by 2024 and halt all oil drilling by 2045, using his authority to take on the state’s powerful oil and gas industry in a year he will likely face … from News – Insurance Journal https://ift.tt/3vlSiU8

Supreme Court Seeks Biden Administration Input on VW Emissions Lawsuits

The U.S. Supreme Court on Monday asked President Joe Biden’s administration to weigh in on whether Volkswagen AG can be sued by local governments in Florida and Utah for damages stemming from the German automaker’s diesel emissions cheating scandal. The … from News – Insurance Journal https://ift.tt/3nlWr7D

Officials Say Fire at Oregon Textile Manufacturer Was Arson

A large fire that gutted a Southeast Portland, Ore., textile manufacturing last week was arson, according to fire officials. Portland Fire & Rescue said in a statement that a security camera recorded someone starting the fire in a nearby dumpster, … from News – Insurance Journal https://ift.tt/3erxJ1C

Insurers Warn Washington Court Ruling Will Raise Rates for a Million Consumers

Insurer groups expressed disappointment over a judge’s ruling denying an industry request to halt an emergency rule that temporarily bans the use of insurance credit scoring in Washington. The Independent Insurance Agents and Brokers of Washington, the Professional Insurance Agents … from News – Insurance Journal https://ift.tt/3tVwVZc

Digital Leader Kerridge Named President of Hiscox USA

Specialty insurer Hiscox Ltd. announced that Kevin Kerridge will succeed Steve Langan as chief executive officer of Hiscox USA. Kerridge will take the helm effective May 15, 2021. Langan will return to the UK after working with Kerridge on a … from News – Insurance Journal https://ift.tt/32Rl8zg

How Agents Can Help Construction Businesses Get Back on Track

Construction business owners experienced declines in their revenues, project completions, new bids and workforce, as the pandemic took hold in 2020. In fact, 7-in-10 construction business owners were negatively affected by COVID-19, according to research from insurer Nationwide. The New … from News – Insurance Journal https://ift.tt/3dRUVaj

Europe’s Hopes for Digital Health Passports Face Security, Fraud, Political Challenges

As Europe races to set up a digital health pass scheme to save the holiday season from the pandemic, technical and political obstacles are showing just how big a challenge the world faces in building such systems, people involved in … from News – Insurance Journal https://ift.tt/32O0WOP

London’s NuVenture to Support MGAs with Funding,Technology

A new London-based business is promising to support a diverse portfolio of managing general agencies (MGAs) with resources, as well as back office services and custom technology. NuVenture International Ltd., formed by industry veteran Andy Colbran in a strategic partnership … from News – Insurance Journal https://ift.tt/3ezn8BB

Greensill Creditors OK Australian Liquidation; Further Investigations Expected

Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the conduct of its directors. Grant Thornton (GT), the liquidator appointed … from News – Insurance Journal https://ift.tt/2PqxZ8E

FCA confirms MGAs are exempt from £7.5m BI special levy

The regulator has reissued its consultation paper on fee rates for 2021/22 after the initial document wrongly said that MGAs were expected to contribute. from Insurer - insuranceage.co.uk https://ift.tt/32QyImt

Openly Expands Homeowners Insurance Platform into Massachusetts

Homeowners insurance platform Openly has made its services available in its home state of Massachusetts. Independent insurance agents in Massachusetts can now access Openly’s coverage and obtain quotes in seconds. Openly has filed for licenses now in nine states with … from News – Insurance Journal https://ift.tt/2Pql5Yg

New York Launches Injured Workers Legal Assistance Project to Assist with Comp Claims

The New York State Workers’ Compensation Board has launched its first-ever legal assistance project to help injured workers obtain medical treatment, the Injured Workers Legal Assistance Project (IWLAP). Now, injured workers can complete an online form maintained by the New … from News – Insurance Journal https://ift.tt/3aBivG8

A Dozen Homes Damaged in Wind-Whipped Baltimore Fire

Fire officials said a dozen homes on several streets caught fire in Southwest Baltimore, fueled by wind-whipped flames from the burning roof of a vacant house. One firefighter was injured during the blaze Friday and was taken to a hospital … from News – Insurance Journal https://ift.tt/3dRx7Dl

Covéa adds Das UK cyber cover to HNW home proposition

The development adds cyber assistance, cyber crime cove, legal and risk management assistance, and a helpline to the offering. from Insurer - insuranceage.co.uk https://ift.tt/3sSwiyu

What the FCA travel rules mean for brokers

The new rules that affect travel insurance providers come into force on Monday, 26 April. from Insurer - insuranceage.co.uk https://ift.tt/3aEHzvP

EU Privacy Supervisor Urges Ban on Facial Recognition Software

Facial recognition should be banned in Europe because of its “deep and non-democratic intrusion” into people’s private lives, EU privacy watchdog the European Data Protection Supervisor (EDPS) said on Friday. The comments come two days after the European Commission proposed … from News – Insurance Journal https://ift.tt/3tTRFAC

Worker Group Alleges Unsafe Chemical Releases at Minnesota Refinery: Reuters

Inadequate safety standards at Marathon Petroleum’s St. Paul Park refinery in Minnesota have caused avoidable hydrocarbon and chemical releases that pose a threat to the community, a local worker advocacy group said in a report on Sunday, as a lockout … from News – Insurance Journal https://ift.tt/3vktDz7

No Delays Found in Medical Care for Workers’ Compensation Claimants During COVID

Despite potential obstacles posed by the coronavirus pandemic, injured workers experienced no meaningful delays in access to medical treatment under their employers’ workers’ compensation programs during the pandemic. Research from the Workers’ Compensation Research Institute (WCRI) also shows that states … from News – Insurance Journal https://ift.tt/3euSk51

Virgin Island Officials Investigating St. Croix Refinery Emissions

A “noxious” gaseous smell coming from St. Croix’s recently reopened refinery that caused schools to close was caused by excess emissions of hydrogen sulfide, U.S. Virgin Islands officials said on Friday. The Department of Planning and Natural Resources (DPNR) is … from News – Insurance Journal https://ift.tt/32N3tZF

Small Insurance M&As Create More Value Than Large Deals: McKinsey

McKinsey analysts believe insurers focused on large one-off deals undertaken to scale their companies and those that stick to organic growth are both headed down unfruitful paths if outsized shareholder return is their success metric. In a report published in … from News – Insurance Journal https://ift.tt/2QW0rjd

People Moves: Marze to Dwight Andrus Insurance; BenefitMall Adds Mitchell, Promotes Sims

Dwight Andrus Insurance Dwight Andrus Insurance in Lafayette, Louisiana, has added Hayden Marze as a commercial lines producer. Hayden has prior business-to-business sales experience in the oil and gas and aviation industries. An independent insurance agency founded in 1945, Dwight … from News – Insurance Journal https://ift.tt/3tRQou8

Climate Change Activists Protest at Lloyd’s of London, Dumping a Load of ‘Coal’

Lloyd’s of London was the focus of climate change activists on Friday, when a group called “Insurance Rebellion” used a dump truck to deposit a large pile of fake coal in front of the Lloyd’s headquarters on One Lime Street. … from News – Insurance Journal https://ift.tt/3sLxlA3

Concerns Raised over Possible Flooding in Western Alaska

A heavy winter snowpack along the Kuskokwim River could make flooding likely this year in western Alaska, a federal weather official said. “I’m especially concerned about the lower villages” along the Johnson River, a tributary of the Kuskokwim, National Weather … from News – Insurance Journal https://ift.tt/3ncZxeb

Cal/OSHA Cites Company $108K in Fatal Pressure Vessel Incident

Cal/OSHA has cited Sierra Pacific Industries $108,300 for workplace safety and health violations after one of its employees was fatally injured when a pipeline on an air compressor exploded. On September 17, an employee working for Sierra Pacific Industries in … from News – Insurance Journal https://ift.tt/3dKpQ8a

Cyber Attacks and Data Loss Are Top 2 Risks Facing Directors & Officers: WTW Survey

Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers Watson and law firm Clyde & Co. Covering … from News – Insurance Journal https://ift.tt/3sJe4iL

Pet Insurance Outshines Travel, Other Inland Marine Coverages Cut by COVID: AM Best

The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant … from News – Insurance Journal https://ift.tt/3ayJjHg

For Some Buyers, Commercial Insurance Market Is Going to Get Better, Easier: Willis

North American buyers of commercial property/casualty insurance can expect an “ever-so-slight turn for the better” and a “less difficult marketplace” in the months ahead. However, global broker Willis Towers Watson’s 2021 Insurance Marketplace Realities report adds, buyers will continue to … from News – Insurance Journal https://ift.tt/3tK58es

Insurity Completes Acquisition of Instec

Property/casualty insurance software firm Insurity has completed its acquisition of Instec, a cloud software maker for mid-size property/casualty carriers, managing general agencies and specialty insurers. Terms of the acquisition were not disclosed. Insurity said the deal further increases its support … from News – Insurance Journal https://ift.tt/3dJThHJ

Insurer for Ever Given Container Ship Appeals Detention by Egypt After Suez Grounding

LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by … from News – Insurance Journal https://ift.tt/3eu9DTI

Citing China, Senators Make Bipartisan Bid to Accelerate U.S. Self-Driving Vehicle Industry

Two U.S. senators are working to attach legislation to allow automakers to deploy tens of thousands of self-driving vehicles on U.S. roads to a bipartisan China bill, a significant reform that could help speed the commercial use of automated vehicles. … from News – Insurance Journal https://ift.tt/3vbq5iA

Lloyd’s Receives ‘AA-‘ from Its New Rating Agency KBRA

Kroll Bond Rating Agency (KBRA) has assigned an “AA-” insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. Newly appointed to provide an additional independent opinion of the market’s financial strength, KBRA joins three other agencies that rate … from News – Insurance Journal https://ift.tt/3tJJoiQ

Alera Group Acquires New York’s The Waterford Group

Alera Group, a financial services and risk management company, has acquired The Waterford Group, a Rochester, New York-based retirement plan specialist providing consulting and fiduciary services to companies. Following the acquisition, The Waterford Group team will continue serving clients in … from News – Insurance Journal https://ift.tt/32JuGwl

Worker Dies in Accident at Submarine Building Facility in Rhode Island

An employee at Electric Boat’s facility in Rhode Island has died from injuries suffered in a workplace accident, the company said. Sean Davies, a vice president for the Connecticut-based submarine builder, told WPRI-TV the incident took place around 8 a.m. … from News – Insurance Journal https://ift.tt/3gDfV6j

"End of an era" as Phil Bayles moves from Aviva to Ardonagh

Brokers say they are "confident" that Gareth Hemming will enable a continuity of strategy at Aviva as they react to Phil Bayles' surprise exit from the provider. from Insurer - insuranceage.co.uk https://ift.tt/3sIy0Cn

Up to 40% of Losses from Frost Damage at French Vineyards Are Uninsured

PARIS – Frost damage to French vineyards this month could reduce wine production by nearly a third compared with recent years, farm office FranceAgriMer said on Thursday, citing initial estimates from wine producers. The losses, subject to revision as the … from News – Insurance Journal https://ift.tt/3xjDCGH

Ex-Deloitte Auditor Faces Disciplinary Action for Improper Audit of S. Africa’s Steinhoff

An ex-Deloitte LLP partner is facing disciplinary action in the Netherlands for an improper audit of Steinhoff International Holdings NV prior to the South African retailer’s near collapse more than three years ago. The Dutch Authority for the Financial Markets … from News – Insurance Journal https://ift.tt/3tKBdCB

AM Best Revises Outlooks to Positive for Convex Group’s Subsidiaries

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Convex Insurance UK Ltd. and Convex Re Ltd. Both entities are wholly … from News – Insurance Journal https://ift.tt/3nhikVM

Pennsylvania Moves Closer to Allowing Lawsuits by Child Sex Abuse Victims

For the first time, prominent Republican state senators on Wednesday put their support behind legislation in Pennsylvania to change the law to allow now-adult victims of child sexual abuse to sue the perpetrators or institutions that did not prevent it … from News – Insurance Journal https://ift.tt/3xhrMwM

Florida House Overwhelmingly Approves Consumer Privacy Bill

The Florida House resoundingly approved a consumer privacy bill on Wednesday, giving the public an opportunity to regain ownership of the personal data collected by companies and the right to sue companies for mishandling information in a marketplace where consumers … from News – Insurance Journal https://ift.tt/2Pe88R5

Hackers Publish Florida School District Files After $40M Ransom Unpaid

Hackers who sought $40 million in ransom from a South Florida school district that refused to pay have now published nearly 26,000 stolen files. Many of the files, dated from 2012 to March 2021, contain Broward School District accounting and … from News – Insurance Journal https://ift.tt/3sQ24ME

Plaintiff Lawyers Accuse Bayer of ‘Pay to Appeal Scheme’ in Roundup Litigation

Bayer AG’s strategy to get a favorable ruling in its Roundup litigation is a manufactured “pay-to-appeal scheme” that will erode the U.S. system of justice if it’s permitted, plaintiffs’ lawyers said in a letter to a court. Lawyers who are … from News – Insurance Journal https://ift.tt/3xtapcC

New York City Lawsuit Claims Exxon, BP, Shell Mislead Over ‘Cleaner’ Fuels

New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the companies are misrepresenting themselves by selling fuels as “cleaner” and advertising themselves as leaders in fighting climate change. … from News – Insurance Journal https://ift.tt/3xkZd1k

‘Suspicious’ Apartment Fire in New York Displaces More Than 20 Residents

Fires at an apartment complex displaced more than 20 people on Sunday night, with authorities saying the blaze was suspicious and appeared to have been started in the recycling bins left on back porches. This is the second fire to … from News – Insurance Journal https://ift.tt/2QsULNF

People Moves: AXA XL’s Hiscock to AXIS; Carpenter Promotes Gaudron, Hires Willis Re’s den Boer; Dahlmann at Marsh; Forder to Dale Underwriting

This wrap-up of international People Moves details recent appointments at AXIS Re, Guy Carpenter, Marsh and Dale Underwriting Partners. A summary of these new hires follows here. AXIS Re, the reinsurance business segment of Bermuda-based AXIS Capital Holdings Ltd., announced … from News – Insurance Journal https://ift.tt/3v2R1kC

Hartford Rejected 3 Acquisition Offers From Chubb From $65 to $70 a Share

After its initial offer of $65 per share to acquire The Hartford was rejected, insurer Chubb came back with two additional offers of $67 and then $70 per share, The Hartford reported today in its first quarter filings. The Hartford’s … from News – Insurance Journal https://ift.tt/3sGhPW8

CII creates Presidents Forum to assess customer needs

Aon UK's Julie Page will chair the group which has been developed to discuss the changing insurance needs of consumers and SME businesses with the aim of creating guidance and key actions for further development. from Insurer - insuranceage.co.uk https://ift.tt/3dCqLaN

Geico Customer Data Breach May be Part of Unemployment Insurance Scam

Auto insurer Geico recently reported that fraudsters have been stealing license numbers of its customers for the past few months and possibly using them to fraudulently apply for unemployment benefits. In a data breach notification filed with California’s data privacy … from News – Insurance Journal https://ift.tt/3eoE8KN

Analysis: The rise of pay-as-you-go insurance

As demand for flexible on-demand insurance products is accelerated by Covid-19, Insurance Age investigates what the challenges and opportunities are for brokers. from Insurer - insuranceage.co.uk https://ift.tt/2QREfXu

Philippine Rescuers Find Bodies of 4 Crew Members of Abandoned Cargo Ship; 9 Missing

MANILA, Philippines – Rescuers in the southern Philippines found the bodies of four crew members Wednesday and rescued seven others who jumped off a cargo vessel, which took in water and listed after its anchor broke in rough seas, officials … from News – Insurance Journal https://ift.tt/32EJvQA

New York Contractor to Pay $135K in Penalties After Trench Collapse

A Long Island, New York, superstructure, foundation and concrete company will pay $135,612 in penalties stemming from the collapse of an approximately 30-foot deep trench in Oyster Bay that led to the deaths of two workers. Following a January 2020 … from News – Insurance Journal https://ift.tt/2RTUHXE

Fire Erupts at Maryland Domino Sugar Plant, No Injuries Reported

A fire at the Domino Sugar plant sent white smoke billowing over the Inner Harbor in Baltimore, Maryland, last Tuesday, but no injuries were immediately reported, a fire department spokeswoman said. A conveyer belt apparently carried a burning substance from … from News – Insurance Journal https://ift.tt/32zxJXM

Massachusetts Eye and Ear to Pay $2.6M to Resolve False Claims Act Allegations

Massachusetts Eye and Ear Infirmary, Massachusetts Eye and Ear Associates Inc. and the Foundation of the Massachusetts Eye and Ear Infirmary Inc., collectively referred to as Massachusetts Eye and Ear, have agreed to pay $2.678 million to resolve allegations that … from News – Insurance Journal https://ift.tt/3enPbnF

MPs call on government to assume contingent liability for live events

A number of planned events, such as the festival Boomtown, have already been cancelled due to lack of cover as pressure mounts on the government to step in. from Insurer - insuranceage.co.uk https://ift.tt/3ayiwe5

Blog: Ardonagh's swoop for 'brand Bayles' is a logical one rooted in past success

As Phil Bayles becomes the latest Aviva senior manager to join Ardonagh, Jonathan Swift suggests that having built his 'brand' at the insurer, he is well primed to now make his mark in the broker space. from Insurer - insuranceage.co.uk https://ift.tt/3sAri1e

Court Orders Liquidation of American Capital; Policies to Cancel May 14

Florida-based American Capital Assurance Corp. is officially in receivership and is in the process of being liquidated after being deemed insolvent by Florida’s insurance regulator earlier this month. The Florida Department of Financial Services, which serves as the receiver for … from News – Insurance Journal https://ift.tt/2QKg3WL

AXA XL Partners with SpaceAble to Support Operators with Satellites in Low Earth Orbit

AXA XL Insurance announced it has established a global partnership with SpaceAble, a start-up specializing in space situational awareness (SSA), to better support satellite operators and organizations operating in space. Based in France and a leading European SSA service provider, … from News – Insurance Journal https://ift.tt/3xfMLjD

Argo Group Estimates Q1 2021 Catastrophe Losses of $47 Million

Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately $43 million, primarily related to Winter Storm Uri. Approximately half … from News – Insurance Journal https://ift.tt/3dHMZbE

EU Announces Tough Draft Rules on Use of Artificial Intelligence

BRUSSELS – The European Commission on Wednesday announced tough draft rules on the use of artificial intelligence, including a ban on most surveillance, in an attempt to set global standards for a key technology dominated by China and the United … from News – Insurance Journal https://ift.tt/3sBerf7

Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020

Despite the combined effects of around $25 billion of pandemic- and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an increased capital base, aided by access to … from News – Insurance Journal https://ift.tt/3avBmlS

Insurers Prefer Private Equity Investments over Hedge Funds: Survey

LONDON — Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset class for insurers seeking to … from News – Insurance Journal https://ift.tt/32E2ivm

Howden to Acquire Spain’s Largest Independent Broker, ARTAI

Howden, the London-based insurance broker, has announced the acquisition of ARTAI, Spain’s largest independent corporate insurance broker. The transaction, which is pending approval from Spain’s Directorate General of Insurance (DGSFP), will see Howden’s presence in the region grow considerably, managing … from News – Insurance Journal https://ift.tt/3tHJffM

People Moves: CopperPoint in Arizona Expands Roles for Roland, Davis-Schultz

Phoenix Ariz.-based CopperPoint has named Bob Roland chief operating officer adding to his responsibilities as chief administrative officer. Roland succeeds Scott Shader, who announced his retirement effective April 1. Roland joined CopperPoint in 2017 with more than 30 years of … from News – Insurance Journal https://ift.tt/3nhA4Ak

Court Agrees Chubb Excluded Coverage in $3.3 Million Unsolicited Advertising Case

Chubb subsidiary Federal Insurance Co. does not have to pay $3.3 million that medical device services firm Mesa Laboratories Inc. wants to fund a settlement over its violations of the Telephone Consumer Protection Act (TCPA). The U.S. 7th Circuit Court … from News – Insurance Journal https://ift.tt/32Cmjmk

Insurance Agency Staffs Remain Positive Even Though Pay Is Down

Insurance agency personnel on average made a little less money in 2020 but they were more satisfied with their compensation in what was a stressful year. Satisfaction with compensation rose across the board, according to the 2021 Agency Salary Survey, … from News – Insurance Journal https://ift.tt/3tHYhSL

Coalition is Letting Californians Know May is Wildfire Awareness Month

Now is the time for Californians to prepare homes and communities for the coming wildfire season, the StrongerCA Coalition is warning. Last year saw a record-breaking wildfire season, with five of the 10 largest wildfires in California. The group is … from News – Insurance Journal https://ift.tt/3gu82A1

Goldman Survey: Insurers Favoring Private Equity Over Hedge Funds

Insurers want to put more money into private equity this year while scaling back on hedge funds, a survey by Goldman Sachs Asset Management showed on Wednesday. Private equity was the most-favored asset class for insurers seeking to increase investment … from News – Insurance Journal https://ift.tt/3dDcSt2

Fire Causes Partial Roof Collapse at Oregon Textile Factory

A fire caused extensive damage to a textile manufacturing facility in Portland early Monday, officials said. The first reports of the blaze came in around 3:30 a.m. Monday at a commercial building in southeast Portland, said Lt. Liz Thompson, a … from News – Insurance Journal https://ift.tt/3sHNzu2

COVID-19 Experiences Show Need for Employment Practices Insurance

As soon as the first community was shut down to slow the spread of the coronavirus or the first announcement of a safer at home order by a governor, some of us saw the storm of suits coming related to … from News – Insurance Journal https://ift.tt/3sEyNEg

Businesses Turned to Risk Management Technology More During Pandemic

Driven by the COVID-19 pandemic, businesses and public entities increased their reliance on risk management technologies, as vendors expanded their offerings to meet their needs. A survey of 1,100 risk professionals found that 38 percent of the respondents increased their … from News – Insurance Journal https://ift.tt/32z3r7B

P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures

U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic. Auto insurers returned premium in the greatest numbers, though general liability, workers’ compensation, event cancellation and inland marine sectors … from News – Insurance Journal https://ift.tt/2QkEIRY

How U.S. Plans to Protect Power Grid From Foreign Hackers

The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and the mostly private utilities that run the electrical system. The … from News – Insurance Journal https://ift.tt/3dC7tCx

People Moves: Liberty Specialty Promotes Warren; GC FAC’s Smith to Miller; Everest’s Geddes to MS Amlin; Pro Global Hires; Generali Promotions

This wrap-up of international People Moves details recent appointments at Liberty Specialty Markets, re/insurance broker Miller, MS Amlin, Pro Global Holdings and Generali Global Corporate & Commercial. A summary of these new hires follows here. Liberty Specialty Markets (LSM), part … from News – Insurance Journal https://ift.tt/32zbKQO

More Assertive SEC Smacks Down SPACs: Viewpoint

Investor Jeremy Grantham says special purpose acquisition companies, which raise money in an initial public offering and then find a promising company with which to merge, are a “license to rip investors off.” On an investing podcast in February, the … from News – Insurance Journal https://ift.tt/3gsVrgs

FCA proposes £7.5m BI special fee for insurers in levy consultation

The fee relates to legal costs following the BI test case and is part of a raft of proposed changes relating to fees and levies ahead of publication of the watchdog's budget for 2021/22. from Insurer - insuranceage.co.uk https://ift.tt/3xetOO3

Chinese Military Reported to Be Behind Japan Cyber Attacks

China’s military is thought to have instructed a hacker group to conduct cyber attacks on nearly 200 Japanese research institutions and firms, public broadcaster NHK reported, citing unidentified people in a police investigation. The investigators found a member of China’s … from News – Insurance Journal https://ift.tt/3asWwBd

Bank of England Warns of Potential Risks from Cloud Data Providers

LONDON – The Bank of England might strengthen its controls on cloud data providers and other technology firms to counter possible risks to the stability of the financial system from the rise of fintech, Deputy Governor Dave Ramsden said. The … from News – Insurance Journal https://ift.tt/3newFlO

Mom Sues Over Teen’s Suicide at Maine Youth Detention Center

The mother of a transgender teenager who died by suicide at a youth detention center in Maine has filed a wrongful death lawsuit against the state. Michelle Knowles, of North Vassalboro, filed the lawsuit Tuesday against the Maine Department of … from News – Insurance Journal https://ift.tt/3enLaiS

New York Petroleum Carrier Pays $375K for Seaman’s Protection Act Violation

A Long Island, New York-based petroleum barge company and three former and current management officials have paid $375,000 in restitution to the brother of one of two seamen killed in a barge explosion off the coast of Texas. The seaman … from News – Insurance Journal https://ift.tt/3xgr82O

Maine Man Charged with Hate Crime in Black Church Arson

A Maine man accused of setting fire to a Massachusetts church with a predominantly Black congregation been charged with hate crime offenses, federal prosecutors said. Dushko Vulchev is charged in federal court with four counts of damage to religious property … from News – Insurance Journal https://ift.tt/3sFLAX4

Insurers Warn that Drivers May Not Understand Limits of ‘Automated’ Car Technology

LONDON – Britain’s goal to be a leader in adopting self-driving cars could backfire unless automakers and government regulators spell out the current limitations of the technology, insurance companies warn. Insurers are key players in the shift to automated driving, … from News – Insurance Journal https://ift.tt/2P6hJcE

Tech Provider FintechOS Raises US$60M to Fuel Global Expansion

FintechOS the London-based technology provider for insurers, banks and other financial services companies, announced it has raised US$60 million (€51 million) in Series B funding. The round was led by venture capital firm Draper Esprit. Existing investors Earlybird Digital East, … from News – Insurance Journal https://ift.tt/3v8WTZG

Canadian MGA GroupAssur Merges with Evolution Insurance

GroupAssur, a Canadian managing general agent (MGA), specializing in property/casualty insurance lines, announced it has merged with Evolution Insurance, an MGA and wholesaler specializing in complex risks that offers its facilities, programs and services to Canadian brokers. Novacap, one of … from News – Insurance Journal https://ift.tt/32M0jWd

TikTok Faces Damages Claim Worth Billions in Child Privacy Lawsuit in London

LONDON – TikTok, the wildly popular video app, and its Chinese parent ByteDance could face a damages claim worth billions of pounds (dollars) in London’s High Court over allegations they illegally harvested the private data of millions of European children. … from News – Insurance Journal https://ift.tt/32Aext8

CII reports loss for 2020 due to "significant" pandemic impact

The professional body also saw a drop in membership numbers during the year. from Insurer - insuranceage.co.uk https://ift.tt/3aqwtKS

J&J to Resume Shipments of COVID-19 Vaccine to EU with Safety Warning

Johnson & Johnson said on Tuesday it will resume rolling out its COVID-19 vaccine in Europe after the region’s medical regulator said the benefits of the shot outweigh the risk of very rare, potentially lethal blood clots. Europe’s health regulator, … from News – Insurance Journal https://ift.tt/3ecMPaY

Florida Regulator Nixes Citizens Request to Remove Rate Cap on New Business

New policyholders coming into Florida’s insurer of last resort will not face higher rates than existing insureds under an order issued by the Florida Office of Insurance Regulation. The regulator’s decision comes after Citizens Property Insurance Corp. President & CEO … from News – Insurance Journal https://ift.tt/3sBUq8n

J.M. Wilson Acquires Wisconsin’s Transcom General Agency

J.M. Wilson, a managing general agency headquartered in Portage, Michigan, with eight offices in the United States, has acquired Transcom General Agency, based in Madison, Wisconsin. The transaction was effective April 1. Transcom General Agency was founded in 1995 and … from News – Insurance Journal https://ift.tt/3v5L4mN

Insight: Tesla Drives on Autopilot Through Regulatory Limbo

The fatal crash of a Tesla with no one apparently behind the wheel has cast a new light on the safety of semi-autonomous vehicles and the nebulous U.S. regulatory terrain they navigate. Police in Harris County, Texas, said a Tesla … from News – Insurance Journal https://ift.tt/3gsC4Ey

Jabs on the Job: Companies, Unions Offering COVID-19 Vaccines

Marie Watson wanted to be among the first in line when she and other essential workers became eligible for the coronavirus vaccine — and with good reason. The maintenance parts buyer for a Mission Foods tortilla plant in Pueblo, Colorado, … from News – Insurance Journal https://ift.tt/3xbowTv

Aviva reveals management changes following Phil Bayles' exit

Gareth Hemming will take over as chief distribution officer at the provider. from Insurer - insuranceage.co.uk https://ift.tt/3swtu9X

Aviva's Phil Bayles exits the insurer for a role at Ardonagh Group

Bayles will take up the newly created role of chief commercial officer for Ardonagh Advisory, focusing on placement and growth initiatives such as M&A as well as overseeing Compass and Broker Network. from Insurer - insuranceage.co.uk https://ift.tt/2QgUNYR

Travelers Is ‘Off to a Terrific Start’ in 2021 with Q1 Results

The Travelers Companies reported net income of $733 million for the first quarter of 2021, compared to $600 million in the prior year quarter. Core income in the current quarter was $699 million compared to $676 million in the prior … from News – Insurance Journal https://ift.tt/3dvSbiG

Price Forbes Aviation Launches Digital General Aviation Facility

Price Forbes announced the launch of a digital general aviation facility that will quote and bind risks with a leading Lloyd’s syndicate within minutes. The development within Price Forbes’ proprietary EDGE platform will improve speed of service and placement for … from News – Insurance Journal https://ift.tt/3gr9h30

Lemonade Warming Up to Enter Car Insurance Market

Lemonade, the insurance company that uses artificial intelligence and behavioral economics, plans to add car insurance to its current renters, homeowners, pet, and life insurance offerings in the U.S. The insurtech announced it is readying what it calls Lemonade Car … from News – Insurance Journal https://ift.tt/32tiAHF

Broker Howden Launches Retail Operation in Switzerland, with Aon’s Jenny as CEO

Howden, the London-based insurance broker, announced that it has appointed Felix Jenny to lead its new retail operation in Switzerland. Howden Switzerland will form an important part of Howden’s European business, delivering local market expertise to the group’s multinational client … from News – Insurance Journal https://ift.tt/3v9W2Id

UK Car Insurance Premiums Drop to Lowest Level Since 2015: WTW Survey

The cost of a comprehensive car insurance policy in Britain slumped 14% in the first quarter of 2021, to their lowest level since 2015, as different phases of lockdowns in the country kept motorists off the streets, a survey showed. … from News – Insurance Journal https://ift.tt/3n4sRmM

Kenya Startup Pula Offers Insurance to African Farmers Hit by Effects of Climate Change

KITUI, Kenya – When Kenyan farmer Waki Munyalo’s crop of lentils shrank by three quarters last year because of unusually low rainfall, disaster was averted thanks to a simple remedy that was previously unavailable to most African farmers – insurance. … from News – Insurance Journal https://ift.tt/3dA3hmw

Motor premiums see biggest drop since 2014

The pandemic along with pricing action needed to meet the FCA's crackdown on dual pricing is expected to cause continued uncertainty in the motor market, according to Confused/Willis Towers Watson. from Insurer - insuranceage.co.uk https://ift.tt/2QCXkML

People Moves: 19 - 23 April 2021

The key job changes in the world of insurance this week. from Insurer - insuranceage.co.uk https://ift.tt/32wUImc

South Africa to Launch Compensation Fund to Allay Vaccine Makers’ Liability Concerns

JOHANNESBURG – The South African government’s compensation fund to cover potential injuries from COVID-19 vaccines could cost around 250 million rand ($17.5 million) in the first year, the health minister said in response to questions in parliament. The African country … from News – Insurance Journal https://ift.tt/3v9COT3

Everest Re Estimates Q1 2021 Catastrophe Losses of $260 Million

Bermuda-based Everest Re Group Ltd. estimates pre-tax catastrophe losses for the first quarter of $260 million. Breaking down that total, Everest said the Texas winter storms will cost $250 million, while Australia’s New South Wales floods will cost $10 million. … from News – Insurance Journal https://ift.tt/3gnBGaf

Hungary’s Surprise Veto of $1B Aegon Deal with Vienna Insurance Sparks Dutch Outcry

The Dutch government has raised concerns with Hungarian officials after a decision in Budapest to block the sale of Aegon NV’s local unit to Vienna Insurance Group AG, according to several people familiar with the matter. The issue was communicated … from News – Insurance Journal https://ift.tt/3tCZsTl

Insurer for Georgia City to Pay $1.7M to Business Owner in Harassment Suit

A suburban Atlanta barbecue restaurant owner will get $1.7 million to settle a federal lawsuit claiming he was harassed by government officials and employees. The city of Stockbridge’s insurer will pay the money to Arick Whitson, owner of Georgia Championship … from News – Insurance Journal https://ift.tt/3n39B9n

First United Insurance Division Rebrands as Unity Insurance Partners

Unity Insurance Partners is now the name of the insurance division at Plano, Texas-based financial services firm, First United. First United’s insurance division originated from three different insurance companies that have been combined over several years. The company said the … from News – Insurance Journal https://ift.tt/3n1rvtb

Florida Drives Toward Repeal of Motor Vehicle No-Fault Law

After many years of trying, Florida is closer than ever to repealing its 50-year-old motor vehicle no-fault law. However, many industry stakeholders have expressed opposition to the legislation passed by the Florida Senate last week and its companion bill approved … from News – Insurance Journal https://ift.tt/3efvKxf

Unhappy New Year. Insurers Report Estimated Q1 Catastrophe Losses.

Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The Allstate Corp. said it had nearly $1.7 … from News – Insurance Journal https://ift.tt/32w94Ua

How Meatpacking Plants’ COVID-19 Cases Hurt Counties

An estimated 334,000 COVID-19 cases are attributable to meatpacking plants, resulting in $11.2 billion in economic damage, according to a new study led by a researcher at the University of California, Davis. The study was published in the journal Food … from News – Insurance Journal https://ift.tt/3uW0BWq

With Claims Rising, Cyber Insurers Need More Than Sizable Rate Increases: Fitch

Cyber insurance underwriters are reporting substantially higher claims losses in 2020 than in prior years and as a result face increasing profit pressure. insurers will have to achieve both significant premium rate increases and tighter coverage terms in order to … from News – Insurance Journal https://ift.tt/3du1i3f

Digital E&S Broker Pathpoint Releases Lessor’s Risk Commercial Package

Pathpoint, a digital excess and surplus lines insurance distributor, has launched its Lessor’s Risk Only (LRO) Commercial Package for agents to access non-admitted coverage for property owners with a single application. The Pathpoint’s LRO product includes a shortened, targeted question … from News – Insurance Journal https://ift.tt/3gmaFUr

70 Homes Across Mississippi Damaged by 4 Tornadoes

Four tornadoes that moved across Mississippi earlier this month caused damage to around 70 homes, emergency officials said Thursday. Four businesses and three farms were also damaged. There have been no reports of injuries or fatalities, officials said. The storms … from News – Insurance Journal https://ift.tt/2QCKQF5

Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm

As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February. That number reflects preliminary results from a data call issued February 26 to property and … from News – Insurance Journal https://ift.tt/3aplPEe

Police to Demand Texas Tesla Crash Data; Musk Denies Autopilot Use

Texas police will serve search warrants on Tesla Inc. on Tuesday, April 20, to secure data from a vehicle that crashed on the weekend, killing two people, a senior officer told Reuters. Mark Herman, Harris County Constable Precinct 4, said … from News – Insurance Journal https://ift.tt/3amftpi

Cyber Attacks on the Rise for Businesses, Pushing Many to the Brink: Hiscox

The proportion of businesses targeted by cyber criminals in the past year increased from 38% to 43%, with over a quarter of those targeted (28%) experiencing five attacks or more, according to the Hiscox Cyber Readiness Report 2021. Those attacks … from News – Insurance Journal https://ift.tt/2Qdohqo

Liberty University Sues Jerry Falwell Jr., Seeking Millions in Damages

Liberty University has filed a civil lawsuit against its former leader, Jerry Falwell Jr., seeking tens of millions in damages after the two parted ways acrimoniously last year. The complaint, filed Thursday in Lynchburg Circuit Court, alleges Falwell crafted a … from News – Insurance Journal https://ift.tt/3n187wf

New Jersey Governor Proposes New Gun Control, Safety Measures

New Jersey would mandate safety courses in order to get a gun permit, require lockboxes for out-of-use firearms and change state law to hold firearm makers liable for harm stemming from gun use, among other changes proposed in the dozen … from News – Insurance Journal https://ift.tt/3suvwYb

Colorado Woman with Dementia Arrested Over Petty Theft Sues

A 73-year-old woman with dementia is suing a Colorado city and members of its police department after she suffered a dislocated shoulder and bruises last year while being arrested after leaving a store without paying for about $14 worth of … from News – Insurance Journal https://ift.tt/3efg6lt

Possible Water Crisis for Ag Operations on Oregon-California Border

Hundreds of farmers who rely on a massive irrigation project that spans the Oregon-California border learned Wednesday they will get a tiny fraction of the water they need amid the worst drought in decades, as federal regulators attempt to balance … from News – Insurance Journal https://ift.tt/3e7SMWE

Arch Capital Estimates Q1 Catastrophe Losses Could Reach $190 Million

Arch Capital Group Ltd. estimated a range of pretax catastrophe losses of $180 million to $190 million for the first quarter across its property casualty insurance and reinsurance segments. A major reason for the claims during Q1 will be January’s … from News – Insurance Journal https://ift.tt/32pu26Y

Helix Underwriting to Write Excess Casualty, Forming Agency Agreement with Watford

Helix Underwriting Partners Ltd., the Bermuda-based managing general agency, has expanded its agency platform into the excess casualty insurance segment. The move will see Tim Hadler join as chief underwriting officer to lead the new program, which has received regulatory … from News – Insurance Journal https://ift.tt/3ajhSAU

Two Die in Tesla Crash in Texas

Two men died after a Tesla vehicle, which was believed to be operating without anyone in the driver’s seat, crashed into a tree on Saturday night north of Houston, authorities said. “There was no one in the driver’s seat,” Sgt. … from News – Insurance Journal https://ift.tt/3eguY3a

Brokers adopt climate change initiatives

Following Aviva’s pledge to be the first major insurer worldwide to achieve net zero carbon emissions by 2040, Insurance Age looks into what this might mean for brokers, and how they plan to adapt their strategies to a more climate-aware business model. from Insurer - insuranceage.co.uk https://ift.tt/3trj5O9

FDA Halts Manufacturing at Plant Where Vaccines Were Ruined

The U.S. Food and Drug Administration has asked Emergent BioSolutions Inc. to stop manufacturing new drug material at its plant in Baltimore, which was responsible for millions of ruined COVID-19 vaccine doses earlier this month. The U.S government had put … from News – Insurance Journal https://ift.tt/3suMPZf

China Launches 1st Class-Action Lawsuit as Regulators Vow to Fight Accounting Fraud

SHANGHAI – China launched the country’s first class-action lawsuit against a listed company on Friday, targeting Kangmei Pharmaceutical Co, as regulators vowed “zero tolerance” against accounting fraud and other capital markets “tumors.” The China Securities Investor Service Centre (CSISC), a … from News – Insurance Journal https://ift.tt/3x44FFU

P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best

The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile, general and professional liability, and medical professional liability. For … from News – Insurance Journal https://ift.tt/32rlFYB

Guy Carpenter Names Co-Heads of Cyber, Hiring Swiss Re’s Cordonnier, Promoting Davis

Guy Carpenter & Co., the reinsurance brokerage business of Marsh McLennan, announced the appointment of Anthony Cordonnier as managing director and global co-head of Cyber, effective the second half of 2021, and the promotion of Erica Davis to global co-head … from News – Insurance Journal https://ift.tt/3uZS6to

Arthur J. Gallagher Invests in Broker ACE via Partnership with Dubai’s MIG Group

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced that it has agreed to a strategic partnership with MIG Holding Ltd. (MIG Group), which will see the company take a minority interest in Middle East & North Africa … from News – Insurance Journal https://ift.tt/2Q6JG4R

SCOR Reports 4.3% Increase in Reinsurance Prices During April Renewals

French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1, 2021 reinsurance renewals – a continuation of trends already seen during the January renewals. SCOR’s gross premiums, up for renewal, … from News – Insurance Journal https://ift.tt/2P1xD8h

China’s Ant Explores Ways for Founder to Divest Stake as Beijin Pressure Grows: Sources

HONG KONG – Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw … from News – Insurance Journal https://ift.tt/3dvi9Tu

3 House Fires in Savannah, Georgia Linked to Arsons

Three houses that burned in Savannah earlier this month are believed to have been set on fire by burglars. Georgia Insurance Commissioner John King said Thursday that investigators have ruled the fires to be arsons and believe they are linked. … from News – Insurance Journal https://ift.tt/3tvz4uL

People Moves: Burkhart to Lead Michigan Big ‘I’; J.M. Wilson Promotes 3, Adds VanderMaiden

Big ‘I’ of Michigan Jared Burkhart will be the next CEO of Big “I” Michigan (MAIA), the association announced. Burkhart joins the Big “I” team on May 3 and succeeds the current CEO, Bev Barney, who is retiring Aug. 31. … from News – Insurance Journal https://ift.tt/3dunavB

Telehealth Care Could Lead to More Follow-Up Visits

Even before the pandemic, people with minor urgent health needs had started to turn to companies that offer on-demand video chats with physicians they don’t normally see. Insurers and employers even started buying access to this direct-to-consumer form of virtual … from News – Insurance Journal https://ift.tt/3v2zDws

Proximity Protect Brokerage Targets Coworking, Flex Space Industry

Workspace management software company Proximity Space Inc. has launched Proximity Protect, a specialty, nationwide insurance brokerage offering coverage for coworking and flex space operators, members and tenants. According to the company, Proximity Protect is the nation’s first brokerage to fully … from News – Insurance Journal https://ift.tt/3sp0CAw

Pandemic-Delayed Trials Over Drugmakers’ Marketing of Opioids to Begin

Four drugmakers, including Johnson & Johnson and Teva Pharmaceutical Industries Ltd., will go to trial on Monday over claims they helped fuel an opioid crisis that has resulted in nearly 500,000 overdose deaths in the United States. The trial is … from News – Insurance Journal https://ift.tt/3ed153I

People Moves: INSUREtrust Hires Ye, Yarbrough; Engle Martin Picks Stewart as COO; Oakbridge Adds Mahler as VP of Technology

INSUREtrust Hires Le, Yarbrough Atlanta-based INSUREtrust has hired Beveryly Le as an account manager. She will be responsible for developing and maintaining relationships with clients. Additionally, the company named Kyle Yarbrough as an operations specialist. Before joining INSUREtrust, Yarbrough worked … from News – Insurance Journal https://ift.tt/2OZhb8n

Wright National, Zurich Expand Flood Coverage into California

Wright National Flood Insurance Services LLC and Zurich Insurance are now offering Zurich’s Residential Private Flood Insurance in California. The stand-alone product has previously been launched in Florida, New Jersey, South Carolina and Virginia, with anticipated plans to expand to … from News – Insurance Journal https://ift.tt/3wZPf5s

Institute Analyzes Impact of California Medical Provider Network Option for Workers

Legislation intended to increase injured California workers’ access to medical care by requiring the state to create a medical provider network as an alternative to private networks that render 90% of California workers’ compensation treatment would significantly increase medical costs … from News – Insurance Journal https://ift.tt/3spfhf0

California Legislature Votes Down Fracking Ban

California lawmakers rejected a bill that would have banned fracking in the state, succumbing to pressure from the powerful oil and gas industry and their labor union allies who warned the bill would have cost good-paying jobs. The bill was … from News – Insurance Journal https://ift.tt/3ttgoLZ

California Toughens PG&E Wildfire Safety Oversight

California officials on Thursday voted to toughen oversight of Pacific Gas & Electric, saying the utility had largely failed to perform required tree-trimming work near power lines in areas with the highest risk of wildfires. The unanimous vote by the … from News – Insurance Journal https://ift.tt/3tob0Kc

Praedicat Launches Risk Scenario Platform to Widen Cross-Line Clash Analysis

Praedicat Inc., the Los Angeles-based liability emerging risk analytics company, announced the launch of its new Risk Scenario Analysis Platform, which widens the cross-line clash scope of its scenario suite. The platform also makes it easier for syndicates at Lloyd’s … from News – Insurance Journal https://ift.tt/3wUU4Nz

Connecticut Reminds Insurers to Avoid Discriminatory Practices with Big Data

Connecticut Insurance Department (CID) Commissioner Andrew N. Mais issued a formal notice to insurers licensed by the department that their use of technology and big data must be in full compliance with federal and state anti-discrimination laws. The notice, issued … from News – Insurance Journal https://ift.tt/3e70WP5

Massachusetts Regulators Seek to Revoke Robinhood’s License; Brokerage Sues

Massachusetts regulators on Thursday sought the revocation of Robinhood’s broker-dealer license after charging that it encourages inexperienced investors to place risky trades without limits, while the online brokerage sued to invalidate a new rule underlying the case. Massachusetts Secretary of … from News – Insurance Journal https://ift.tt/3gfrVef

Willis Towers Watson Launches ‘Radar Workbench’ for Commercial Underwriters

Insurance broker Willis Towers Watson has launched Radar Workbench, new software technology aims to transform the performance of frontline commercial underwriters. “Radar Workbench has been developed to provide the optimal environment that supports underwriters in making complex decisions at pace … from News – Insurance Journal https://ift.tt/2Rv3Gy7

Risk of COVID-19 Exposure on Airlines Drops when Middle Seats Are Empty: Study

The risk of being exposed to the COVID-19 virus on an airline flight drops by as much as half when airlines keep middle seats open, a new study published by the U.S. government concludes, a safety practice the carriers have … from News – Insurance Journal https://ift.tt/3aiHYnB

New York City Begins $1.5B Project to Protect Manhattan from Floods

New York City has embarked on a $1.45 billion resiliency project in lower Manhattan along the East River, an area devastated by flooding in 2012 during Hurricane Sandy, Mayor Bill de Blasio said. The city’s East Side Coastal Resiliency project, … from News – Insurance Journal https://ift.tt/3tjU9bj

Many Climate Scientists Moving from Fieldwork to Jobs in Financial Services

LONDON – Environmental scientist Laura Garcia Velez cut her teeth on projects to help Ethiopian farmers insure crops for drought and connect remote Colombian communities to the electricity grid before working for conservation campaigners WWF. Now she’s an analyst for … from News – Insurance Journal https://ift.tt/3x3A4bp

Impact of Brexit on City London Is Worse than Expected: Study

LONDON – Over 400 financial firms in Britain have shifted activities, staff and a combined trillion pounds ($1.4 trillion) in assets to hubs in the European Union due to Brexit, with more pain to come, a study from New Financial … from News – Insurance Journal https://ift.tt/2PYV5DH

UK Space Industry Aims to Remove Dangerous Space Junk from Orbit

A defunct satellite spent early April hurtling through space toward the body of an old rocket, threatening a collision that the European Union’s Space Surveillance and Tracking Consortium estimated could generate more than 4 million pieces of debris. In the … from News – Insurance Journal https://ift.tt/3mQDwl4

Ardonagh Specialty reveals capacity deal with Beazley

Business says cross class follow capacity solution will benefit Price Forbes clients across cargo, specie, terrorism, financial products, healthcare and marine. from Insurer - insuranceage.co.uk https://ift.tt/32l1JGQ

Ex-Allianz CFO Wemmer Plans to Form SPAC to Target Insurance Deals

Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said. Wemmer … from News – Insurance Journal https://ift.tt/2QrwpU4

Russian Spy Agency SVR Responsible for SolarWinds Hack: White House

The White House said in a statement on Thursday that Russia’s foreign intelligence service, known as the SVR, was responsible for the SolarWinds hack, which led to the compromise of nine federal agencies and hundreds of private sector companies. Senior … from News – Insurance Journal https://ift.tt/3wUekyR

Zywave Acquires Risk Management Solutions Provider, Enquiron

Insurance technology provider Zywave announced the acquisition of Enquiron, the Boston-based provider of risk management and consultative business solutions. Financial details of the acquisition were not disclosed. Founded in 1996, Enquiron serves more than 100 of the top P/C, healthcare … from News – Insurance Journal https://ift.tt/32mP2eu

Allianz offers free legal line for commercial customers

The insurer’s 24/7 telephone service can provide guidance on any business-related legal matter, from employment law to debt recovery and property disputes, as well as advice on Covid-19 related legislation. from Insurer - insuranceage.co.uk https://ift.tt/3snvaCA

MHIB and Biba launch largest ever insurance mental health survey

Head Lines: The survey will benchmark the health of people working in the insurance sector for the first time. from Insurer - insuranceage.co.uk https://ift.tt/3swMKo1

Mississippi Supreme Court Hears Arguments on Marijuana Program

The Mississippi Supreme Court heard arguments Wednesday in a lawsuit that’s trying to block a voter-approved medical marijuana program by disputing how the issue got onto the ballot. Arguments were not about marijuana. Instead, they were about Mississippi’s initiative process. … from News – Insurance Journal https://ift.tt/3agbx9o

The Hilb Group Acquires McCartha, Cobb & Associates of South Carolina

The Hilb Group, LLC has acquired South Carolina-based McCartha, Cobb & Associates, Inc. (MC). The transaction became effective on April 1, 2021. MC is an insurance agency, specializing in contract and commercial surety bonds to the construction industry. As part … from News – Insurance Journal https://ift.tt/3dl5Ety

Wisconsin Supreme Court Rules Governor Can’t Limit Business Capacity

The Wisconsin Supreme Court has ruled that Gov. Tony Evers’ administration does not have the authority to issue capacity limits on bars, restaurants and other businesses without the Legislature’s approval, a ruling that comes two weeks after the conservative-controlled court … from News – Insurance Journal https://ift.tt/3dlB8iZ

People Moves: Chubb Appoints Execs in Construction, A&H; Hippo Adds to Legal & Compliance; Alleyne Named Chief Legal Officer at Munich Re US

Chubb has appointed Lyndsey Christofer as executive vice president, Construction Industry Practice Leader for its large account segment. In this capacity, she will oversee a team of construction underwriting and service specialists across multiple lines of business. In addition, she … from News – Insurance Journal https://ift.tt/32qjNPD

Corvus, Skyward Specialty to Offer Cyber Coverage for Cargo Risks

Corvus Insurance, a provider of commercial insurance products powered by AI-driven risk data, and Skyward Specialty Insurance Group, a specialty property and casualty market, have partnered partnership to expand Corvus’ Smart Cargo + Cyber offering. The announcement comes after Corvus’s … from News – Insurance Journal https://ift.tt/3sosB32

‘Insure Our Future’ Pressures Lloyd’s to ‘Immediately Stop’ Insuring Fossil Fuel Projects

Insure our Future, the anti-fossil-fuel campaign group, is pressuring Lloyd’s to immediately stop insuring coal and new oil and gas projects that exacerbate climate change. The group has launched a website, which is aimed at “concerned staff at Lloyd’s … … from News – Insurance Journal https://ift.tt/2Q98MzI

UN Summit to Seek Support from Insurers, Bankers to Stem Loss of Global Biodiversity

Organizers of a United Nations summit where world leaders will seek to negotiate an accord for nature akin to the Paris climate agreement want banks and fund managers to play their part in protecting the planet’s biodiversity. Ahead of the … from News – Insurance Journal https://ift.tt/3mQtyjI

California Targets Urgent Projects as Wildfire Season Looms

California is in such an urgent race with another devastating wildfire season that officials began soliciting local project ideas even before they had money to pay for them. It faces such a threat of drought that the governor said Tuesday … from News – Insurance Journal https://ift.tt/3to7WNU

Applied Underwriters Finalizes Acquisition of UK MGA Concept Special Risks

Applied Underwriters announced it has completed the acquisition of Concept Special Risks (CSR), a Leeds, England-based managing general agent, after receiving UK regulatory approval. Financial details of the deal, which was first announced in February, were not disclosed. Founded 22 … from News – Insurance Journal https://ift.tt/3wXWaMB

The Hilb Group Acquires Select Book of Business in New Jersey, New York

The Hilb Group LLC (THG) has acquired a select book of business of quick-serve restaurant clients with more than 100 locations in New Jersey and New York. These clients will participate in THG’s Alternative Solutions Insurance Company (ASIC) program, which … from News – Insurance Journal https://ift.tt/3uYRW5H

Hub International Limited Acquires Massachusetts’ IBG Financial Partners

Hub International Limited, a full-service global insurance broker, has acquired IBG Financial Partners LLC. Terms of the transaction were not disclosed. Located in Foxborough, Massachusetts, IBG is a team of retirement plan consultants that provides fiduciary and retirement plan consulting … from News – Insurance Journal https://ift.tt/3uVNBjk

Lloyd’s Lab Picks 11 Insurtech Start-ups, Focused on Product Simplification, Climate

Lloyd’s announced the next 11 insurtech start-ups that are participating in the sixth cohort of its Lloyd’s Lab innovation accelerator program. These insurtechs will be focused on creating simpler products for customers, including building solutions related to climate risks. This … from News – Insurance Journal https://ift.tt/3dZllpm

McDonald’s to Require Employee Training to Combat Harassment, Discrimination

McDonald’s Corp said on Wednesday it will require new training and policies to combat harassment, discrimination and violence at its 39,000 restaurants worldwide, calling for safer work places after it faced lawsuits by some female employees. The burger chain said … from News – Insurance Journal https://ift.tt/2Ryg7Jz

Hallmark Financial Plans to Pursue IPO of Specialty Commercial Business

Hallmark Financial Services Inc., a property/casualty insurance company with three business segments – Specialty Commercial, Standard Commercial and Personal – plans to pursue an initial public offering of a non-controlling ownership stake in the core businesses within the Specialty Commercial … from News – Insurance Journal https://ift.tt/3mWOgi0

EU Set to Ban Artificial Intelligence Used for Mass Surveillance, Ranking Social Behavior

The European Union is poised to ban artificial intelligence (AI) systems used for mass surveillance or for ranking social behavior, while companies developing AI could face fines as high as 4% of global revenue if they fail to comply with … from News – Insurance Journal https://ift.tt/32gqP9J

Google: Why brokers are "key enablers"

Insurance Age meets Dr Henna Karna, who heads up reinsurance and risk management solutions at Google Cloud, to learn more about Google's insurance plans and discuss the future for brokers in a tech dominated landscape. from Insurer - insuranceage.co.uk https://ift.tt/3wUULGx

Boy Scouts’ Lawyers Eye New Reorganization Plan After Criticisms from Abuse Victims

DOVER, Del. (AP) – Attorneys for the Boy Scouts of America told a Delaware bankruptcy judge Monday that they plan to file a new reorganization plan after gaining little support for a previous proposal that has been roundly criticized by … from News – Insurance Journal https://ift.tt/3e85y7w

White House Rushes to Strengthen Security of U.S. Power Grid as Hacking Threats Grow

A White House plan to rapidly shore up the security of the U.S. power grid will begin with a 100-day sprint, but take years more to transform utilities’ ability to fight off hackers, according to details of a draft version … from News – Insurance Journal https://ift.tt/3dYSRvW

IBM Uncovers More Cyber Attacks on COVID-19 Vaccine Supply Chain

International Business Machines Corp. said on Wednesday its cyber-security unit has uncovered more digital attacks targeting the global COVID-19 vaccine supply chain since the issue was originally flagged late last year. The cloud services provider said it recently found that … from News – Insurance Journal https://ift.tt/3wYBx2D

Michigan Workplace Virus Rules, Office Restrictions Extended for 6 Months

Gov. Gretchen Whitmer’s administration has extended workplace coronavirus restrictions for an additional six months, including a requirement that Michigan employers prohibit office work if employees’ jobs can feasibly be done remotely. The emergency rules, which were issued in the fall, … from News – Insurance Journal https://ift.tt/3djCZVF

Detroit Police Sued by Man Mistaken for Shoplifter by Recognition Technology

A Black man who was arrested when facial recognition technology mistakenly identified him as a suspected shoplifter has sued Detroit police, seeking compensation for the humiliating incident and restrictions on how the city uses the tool. “I came home from … from News – Insurance Journal https://ift.tt/3e1PTH7

Oklahoma Apprenticeship Bill Allows Liability Protection for Students

The Oklahoma House of Representatives has passed a bill that extends high school apprenticeship programs to include sophomores who are at least 16 years old. It includes a provision that allows school districts to obtain liability insurance to protect students … from News – Insurance Journal https://ift.tt/3dgXFxE

N.J. Supreme Court Upholds Order to Reimburse Workers’ Comp Claimant for Marijuana

The New Jersey Supreme Court on Tuesday ordered a construction company to reimburse a workers’ compensation claimant for marijuana that was prescribed to relieve his back pain caused by a work injury. The high court rejected M&K Construction’s argument that … from News – Insurance Journal https://ift.tt/3giaU37

People Moves: Riddle Joining Ohio Mutual; Schauer Group Adds Guyer; Burnett Joins AF Group

Ohio Mutual Mendi Riddle will be joining Bucyrus, Ohio-based insurer, Ohio Mutual, as vice president of Sales effective May 10, succeeding Howie Barber who is retiring in July. Riddle has served in a number of senior sales and product roles … from News – Insurance Journal https://ift.tt/3e2Vjld

People Moves: Sierra Specialty Adds Dith in California; McHugh Joins Lockton in Seattle; Mathis to CWCI

Sierra Specialty Sierra Specialty, program specialist, managing general agency and wholesale insurance brokerage, has appointed Vicky Dith as a broker and underwriter specializing in construction insurance. Dith is located in Clovis, Calif. Dith will be working with Sierra Specialty’s commercial … from News – Insurance Journal https://ift.tt/3wS0e0Z

Understanding Florida’s Sweeping New Immunity Law for COVID-19 Claims

Florida became one of the first states in the country last month to pass and sign into law a statute directed toward providing immunity to businesses for COVID-19 related lawsuits. To be clear, the law does not prevent all COVID-19 … from News – Insurance Journal https://ift.tt/3sh1YNz

Fire Damage to BNSF Nebraska Terminal Estimated at $3M

A fire over the weekend at a BNSF Railway terminal in western Nebraska is estimated to have caused $3 million in damage to the facility. The fire broke out early in the afternoon on April 11 at the BNSF terminal … from News – Insurance Journal https://ift.tt/3gj5rZw

California Fire Victim Trust Has Received 250K Claims So Far

The Fire Victim Trust, established to pay California wildfire victims on July 1, 2020, has received 40,000 claims questionnaires representing more than 70,000 claimants and roughly 250,000 individual claims, according to the trustee. Judge John K. Trotter (Ret)., the trustee, … from News – Insurance Journal https://ift.tt/2Qumtta

Landlord Accused of Discrimination in New Hampshire Support Dog Lawsuit

A landlord has been accused of discriminating against a tenant by not allowing her to house an emotional support dog for her anxiety and depression, the U.S. attorney’s office said in a lawsuit. The complaint filed Friday in New Hampshire … from News – Insurance Journal https://ift.tt/3seZaR3

California Plans $536M for Wildfire Mitigation Before Fire Season

California will authorize $536 million for wildfire mitigation and forest management projects before the worst of the fire season strikes later this year, Gov. Gavin Newsom and legislative leaders said. That more than doubles $200 million in recent annual spending, … from News – Insurance Journal https://ift.tt/3g9sru1

The Hilb Group Acquires Maryland’s Parallel Risk Advisors

The Hilb Group LLC (THG) has acquired Maryland-based Parallel Risk Advisors LLC. (PRA). The transaction became effective on January 1, 2021. PRA is a commercial lines property/casualty consulting and advisory firm specializing in the commercial real estate industry. As part … from News – Insurance Journal https://ift.tt/3mKkvRr

Judge Dismisses Washington Wrongful Death Suit in Shooting

A judge has dismissed a wrongful death lawsuit brought against Pierce County, Wash., by the family of sheriff’s deputy Daniel McCartney, who was fatally shot while responding to a call. McCartney, 34, was shot Jan. 7, 2018 while responding to … from News – Insurance Journal https://ift.tt/3e0ox3X

Final Settlements Inked in Delaware Poultry Plant Pollution Lawsuits

A Delaware judge on Monday gave final approval to a $65 million settlement in a class-action lawsuit involving thousands of residents of a southern Delaware community affected by groundwater contamination from a local poultry processing facility. Approval of the settlement … from News – Insurance Journal https://ift.tt/2Qsb9gP

Xenia buys West Midlands-based trade credit broker

The Nexus-owned business says Credit Insurance Alliance Brokers will be integrated with its Credit Risk Solutions unit. from Insurer - insuranceage.co.uk https://ift.tt/3aaOMn4

Chubb CEO Greenberg Reiterates Call for Litigation Reform

Chubb Chairman and CEO Evan Greenberg is reiterating a call for litigation reform nationally and at the state level to address what he said is a “systemic” worsening of the legal environment and its harmful impact on the insurance industry. … from News – Insurance Journal https://ift.tt/2PU7o4d

Court Orders Chubb Subsidiary to Pay for Merchandise Lost in Warehouse Bankruptcy

Chubb’s Federal Insurance Co. must pay more than $2 million to a fabric company that lost 22 trailer loads of merchandise when the Mississippi warehouse company that stored it, filed for bankruptcy, sold the goods and pocketed the proceeds. A … from News – Insurance Journal https://ift.tt/3mMArSX

Insuring Cyber Podcast: What the ‘New Normal’ Means for Cyber Insurers, Coverage

More than a year has passed since pandemic-related government restrictions began, causing many businesses around the world to shift their workforce to remote. With increased reliance on technology, new work environments and greater use of at-home devices and networks in … from News – Insurance Journal https://ift.tt/3thN37d

Xenia Broking to Acquire UK-Based Credit Insurance Alliance (Brokers)

Xenia Broking Group, the London-based credit insurance and surety specialist, announced it has entered into an agreement to acquire Credit Insurance Alliance (Brokers) Ltd. (CIA). An independent trade credit insurance broker based in the West Midlands, England, CIA specializes in … from News – Insurance Journal https://ift.tt/3wRR4kR

EU Antitrust Regulators Extend Deadline to July 27 for Decision on Aon-Willis Deal

BRUSSELS – European Union antitrust regulators have extended until July 27 the deadline for their decision on Aon’s $30 billion bid for rival Willis Towers Watson, a European Commission filing showed on Wednesday. Aon, which announced the deal a year … from News – Insurance Journal https://ift.tt/3a9ZQkA

Analysis: The future of the networks model

Following on from GRP's surprise purchase of Marsh Networks, Martin Friel investigates how consolidation is changing the networks landscape. from Insurer - insuranceage.co.uk https://ift.tt/2QluAYW

BLM launches cross-industry property damage body to combat claims surge

The industry-wide property damage Task Force is meant to bring insurers, brokers, loss adjusters, legal specialists, and corporates together to identify emerging issues in the property claims sector. from Insurer - insuranceage.co.uk https://ift.tt/3scHwNL

Q&A - Marshmallow's Oliver Kent-Braham

The founder of motor provider Marshmallow discusses the company's creation, its future plans, and lifts the lid on the legal battle with Marsh over its name. from Insurer - insuranceage.co.uk https://ift.tt/3tlrH8X

Russia Vulnerable to Climate Change, Causing Expensive Natural Disasters

The residents of Irkutsk, one of Russia’s coldest regions, are used to harsh winters. But when the temperature dropped to negative 60 degrees Celsius (-76 Fahrenheit) last January, even they had to submit to the elements. “Please stay at home … from News – Insurance Journal https://ift.tt/3x2xouX

NAIC Data: Florida Property Lawsuits Total 76% of Insurer Litigation in U.S.

New information from Florida’s insurance regulator paints a stark picture of the extent of litigation facing the state’s domestic insurers. The information comes as numerous stakeholders push for legislative reforms to address the litigation issue they blame for fueling the … from News – Insurance Journal https://ift.tt/32acBHz

7 European Countries Commit to Halt Export Finance for Fossil Fuel Projects

Seven European countries, including Germany, France and Britain, will commit on Wednesday to stop public export guarantees for fossil fuel projects, French Finance Minister Bruno Le Maire said on Tuesday. Coal, oil and gas infrastructure have traditionally made up a … from News – Insurance Journal https://ift.tt/3sgr1jV

Allstate Sees Surge in Demand for Pay-Per-Mile Insurance During COVID Shutdowns

The COVID-19 shutdowns that swept the U.S. have been a boon for a newer auto-insurance product: pay-per-mile coverage. During the pandemic, Allstate Corp. has seen interest surge in its Milewise offering, which lets customers pay auto-insurance premiums for just the … from News – Insurance Journal https://ift.tt/3x2oAFp

Aon’s Concessions to EU May Not Be Enough to Close $30B Willis Deal: Sources

BRUSSELS – Insurance broker Aon’s offer to sell assets in five EU countries and takeover target Willis Towers Watson’s reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said on Tuesday. Aon is … from News – Insurance Journal https://ift.tt/3mK9NKw

Texas Supreme Court Sides with Insure on Mold-Related Policy Changes

The Texas Supreme Court on April 9 reversed lower court rulings and found that Farmers Insurance was within its rights when it decided 19 years ago not to renew homeowners’ policies that it feared would have forced it to cover … from News – Insurance Journal https://ift.tt/2PSadCN

Cyclone Seroja Damages Towns in Western Australia with Strongest Winds in 50 Years

PERTH, Australia (AP) – A destructive cyclone has damaged several towns on Australia’s western coast, shattering windows, snapping trees and knocking out power. There have been no reports of serious injuries. Tropical Cyclone Seroja crossed the Western Australia state coast … from News – Insurance Journal https://ift.tt/3dfYir9

Hub Acquires Assets of Wyoming Financial Insurance

Hub International Ltd. has acquired the assets of Wyoming Financial Insurance. Terms of the deal were not disclosed. Art Hansen, president of Wyoming Financial, Mike Kretzer, CFO, and Bob Moberly, CEO, will not be joining HUB. The rest of the … from News – Insurance Journal https://ift.tt/2Qnt08C

Mississippi Supreme Court to Hear Challenge to Medical Marijuana Initiative

The Mississippi Supreme Court is set to hear arguments Wednesday in a lawsuit that challenges the state initiative process and seeks to block development of a medical marijuana program. Voters in November approved Initiative 65, which requires the state Health … from News – Insurance Journal https://ift.tt/3ttTjso

Former Employee in Oregon City Intends to Sue Following Firing

A former Coquille city, Ore., employee has informed the city she plans to sue for whistleblower retaliation and a failure to provide due process during the course of her firing. Former city recorder Jennifer Rose filed a notice with the … from News – Insurance Journal https://ift.tt/3secIfC

People Moves: Liberty Mutual’s Curtis to Starr; Buckle Hires Two; RT Specialty Promotes Reynolds

Starr Insurance Companies Hires Curtis to Lead Primary Construction Unit Starr Insurance Companies has hired Matt Curtis as vice president and profit center manager for its Primary Construction unit. In his prior role at Liberty Mutual, Curtis oversaw the primary … from News – Insurance Journal https://ift.tt/3mHg2yR

NFP Acquires The Schuster Group, Expanding Capabilities in the Northeast

NFP, an insurance broker and consultant that provides property/casualty, corporate benefits, retirement and individual solutions, has acquired Schuster Driscoll LLC, d/b/a The Schuster Group, and its nonprofit membership platform, TANGO Administrative and Management Services LLC (together, TSG). The transaction closed … from News – Insurance Journal https://ift.tt/3th2Zq7

Aon Launches Industry Collaboration to Protect Global COVID-19 Vaccine Shipments

Insurance broker Aon plc has introduced a new solution, through broad industry collaboration, that will provide supply chain protection for global COVID-19 vaccine shipments. The solution provides transparent cargo insurance coverage for COVID-19 vaccines by combining sensor data and analytics. … from News – Insurance Journal https://ift.tt/3shzpQ2

Four Girls, 12 and 14 Years Old, Accused of Setting Pennsylvania House Fire

Four teenage girls ranging in age from 12 to 14 have been arrested on juvenile court charges of setting a fire that destroyed an unoccupied western Pennsylvania house earlier this month, sending a police officer and a firefighter to the … from News – Insurance Journal https://ift.tt/3wLSXQd

Broker BMS Launches Analytics Platform to Support Clients’ Risk Transfer Goals

BMS, the London-based independent specialist insurance and reinsurance broker, announced the launch of an analytics platform called Pathlight AnalyticsTM. The platform is designed to harness the collective power of the analytics disciplines to better assist clients with examining, analyzing and … from News – Insurance Journal https://ift.tt/3thEaKN

Egyptian Court Allows Seizure of Ship that Blocked Suez, Pending $900M Compensation

An Egyptian court issued a seizure order for the ship that blocked the Suez Canal last month after a request from the waterway’s operator, which is demanding $900 million in compensation, according to local media. A court in the city … from News – Insurance Journal https://ift.tt/3wQWrAT

FCA data reveals progress as insurers settle Covid-19 BI claims

Updated figures show providers have made interim payments of £247.7m and final settlements of £352.1m since the Supreme Court verdict, but 12,217 policyholders are still waiting to hear whether their policies provide cover or not. from Insurer - insuranceage.co.uk https://ift.tt/3mJlzVv

U.S. Recommends Pausing Use of J&J COVID Vaccine over Rare Blood Clots

U.S. federal health agencies on Tuesday recommended pausing the use of Johnson & Johnson’s COVID-19 vaccine after six recipients developed a rare disorder involving blood clots, in a fresh setback to global efforts to tackle the pandemic. The move comes … from News – Insurance Journal https://ift.tt/32bO44U

Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters

Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday. In a statement … from News – Insurance Journal https://ift.tt/3ddHwc7

The Zebra Raises $150 Million to Expand Online Insurance Comparison Operations