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WELLINGTON, New Zealand (AP) – Several hundred people in New Zealand were evacuated from their homes Monday with some recounting dramatic helicopter rescues as heavy rain caused widespread flooding in the Canterbury region. Authorities declared a state of emergency after … from News – Insurance Journal https://ift.tt/3fEMkJ2

Swiss Financial Watchdog Requires Insurers, Banks to Disclose Climate Change Risks

ZURICH – Large Swiss banks and insurance companies will have to provide qualitative and quantitative information about risks they face from climate change, Swiss financial watchdog FINMA said on Monday as it released an amended publication on disclosure. FINMA’s updated … from News – Insurance Journal https://ift.tt/3c6saW7

German Insurtech Wefox Raises $650M in Funding, Valuing Firm at $3B

BERLIN – Digital insurance startup Wefox said on Tuesday it had raised $650 million from investors, in what it called a record-breaking round for a so-called insurtech company that valued the business at $3 billion. The funding means Berlin-based Wefox … from News – Insurance Journal https://ift.tt/3fCLIUf

Workers’ Comp Insurer SUNZ Expands into 13 Additional States

Florida-based SUNZ Insurance Co. is now licensed to write workers’ compensation policies in 13 additional states: Hawaii, Iowa, Nevada, New Hampshire, New Mexico, South Carolina, South Dakota, Utah, Vermont, Virginia, West Virginia and Wisconsin. With the addition of these states, … from News – Insurance Journal https://ift.tt/3p8O5kG

Wrongful Death Suit Filed Against County, Insurers Over Fatal 2020 Alabama Marina Fire

A lawsuit filed over a dock fire that killed eight people at a county marina in north Alabama last year contends officials failed to ensure the safety of the structure. The wrongful death suit names Jackson County commissioners at the … from News – Insurance Journal https://ift.tt/3fX0809

Too Little, Too Late? Breaking Down Florida’s Latest Property Insurance Reforms

A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop the state’s out-of-control … from News – Insurance Journal https://ift.tt/3x05ZsL

U.S. Updates Guidance on COVID Vaccine Mandates, Incentives, Privacy in Workplace

Federal employment laws do not prevent an employer from requiring all employees physically entering the workplace to be vaccinated for COVID-19, the Equal Employment Opportunity Commission (EEOC) has affirmed. Also, employers may offer incentives for employees to get vaccinated and … from News – Insurance Journal https://ift.tt/3p5vDtg

AssuredPartners Acquires Anchor Pardue Insurance of Alabama

AssuredPartners has acquired Anchor Pardue Insurance of Mountain Brook, Ala. Anchor Pardue is the second acquisition in May for Assured Partners and its 18th acquisition in 2021. The team will remain under the leadership of Richard Pardue, president, and Lisa … from News – Insurance Journal https://ift.tt/3vIFbwS

FEMA Approves More Flood Aid for 22 Kentucky Counties

Kentucky’s request for individual assistance for 22 additional counties hit by severe flooding has been approved by the Federal Emergency Management Agency, Gov. Andy Beshear said Friday. Assistance can include grants for temporary housing and home repairs, plus low-cost loans … from News – Insurance Journal https://ift.tt/3uH3j1k

Generali Launches $1.4 Billion Bid to Buy Remaining Shares of Italy Rival Cattolica

Italy’s largest insurer Assicurazioni Generali SpA launched a 1.2 billion-euro ($1.4 billion) bid to buy all the shares it doesn’t already own in smaller rival Societa Cattolica di Assicurazioni, as part of a strategy to cement its already-commanding presence in … from News – Insurance Journal https://ift.tt/3p9ve8U

Employees Sue Texas Hospital Network to Halt Vaccine Mandate

A group of 117 healthcare workers at a Texas hospital filed a lawsuit in state court against their employer’s mandate requiring all staff to get COVID-19 vaccinations, Washington Post reported on Saturday. Employees of Houston Methodist Hospital said in the … from News – Insurance Journal https://ift.tt/34AmVd6

New Hampshire Sex Abuse Class-Action Suit Tossed, Individual Claims Stand

A judge on Wednesday dismissed a class action lawsuit involving 300 people who allege decades of abuse at New Hampshire’s youth detention center, but he left the door open for individual claims against the state. The lead plaintiff, David Meehan, … from News – Insurance Journal https://ift.tt/2TrSZxp

Woman in Racist Central Park Confrontation Sues Employer Over Firing

The white woman who was widely condemned and fired after a videotaped dispute with a Black birdwatcher in Central Park filed a lawsuit against her former employer, accusing the company of not doing an investigation before her termination because of … from News – Insurance Journal https://ift.tt/3hXh8pF

Internet Groups’ Lawsuit Claims Florida Social Media Law Is Unconstitutional

Two tech trade groups filed a lawsuit against Florida on Thursday over a new law that would fine social media companies that ban political candidates, which they said violated free speech rights. The lawsuit, which said the bill signed by … from News – Insurance Journal https://ift.tt/2QZcNau

Attorney Dershowitz Files $80 Million Defamation Suit Against Netflix

Attorney and Harvard law professor Alan Dershowitz is suing Netflix for $80 million over his portrayal in the streaming service’s “Filthy Rich” series about sex offender Jeffrey Epstein. The lawsuit, filed Wednesday in Miami federal court, contends that Netflix intentionally … from News – Insurance Journal https://ift.tt/3c0qHR2

India Oil Giant Under Fire for Offshore Disaster During Cyclone Tauktae

When India’s weather office sent out cyclone warnings on May 13 and most vessels moved to safety, one barge working on Oil and Natural Gas Corp.’s field off the Mumbai coast stayed put. That decision would prove fatal when Tauktae, … from News – Insurance Journal https://ift.tt/2SClXKF

Cyber Insurers Seeing Surge in Interest by Energy Companies Since Pipeline Attack

U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates following a slew of … from News – Insurance Journal https://ift.tt/2QY1AHa

Colm Holmes "great fit" for Allianz as brokers praise outgoing boss Jon Dye

News of the management shake-up left brokers shocked and surprised, but experts say Holmes will be good for Allianz while they remain confident that Aviva boss Amanda Blanc will keep the ship steady despite recent exits. from Insurer - insuranceage.co.uk https://ift.tt/3i5BWM1

FCA wraps up rules on dual pricing ban

The regulator has said that the new rules on pricing, auto-renewal and data reporting remedies come into effect on 1 January 2022. from Insurer - insuranceage.co.uk https://ift.tt/3c0c68l

Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge

SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in costly class action lawsuits. Australia’s government last … from News – Insurance Journal https://ift.tt/34wWHYF

COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P

The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit figure was down from $56 … from News – Insurance Journal https://ift.tt/34qzzLK

Ford Halts Production at Southern India Plant as COVID-19 Cases Surge

CHENNAI – Ford Motor Co. said it will halt production at its car plant in India’s southern state of Tamil Nadu after workers staged a lunchtime sit-in protest on Thursday, demanding leave and health benefits, as the country battles the … from News – Insurance Journal https://ift.tt/3wEVI4V

Suez Canal Blames Container Ship’s Grounding on Its High Speed, Size of Rudder

ISMAILIA, Egypt – The container ship that got stuck in the Suez Canal in March was struggling to steer because of its high speed and the size of its rudder, and could have chosen not to enter the waterway in … from News – Insurance Journal https://ift.tt/3wFtEyc

Experts Say Texas Is Missing Chance to Avert Deadly Blackouts

Elzie Ford lost power in his freezing home for nearly a week during February’s catastrophic blackouts in Texas. By the time the 68-year-old widower was found on the floor, his hands were purpled with frostbite. He died the next day. … from News – Insurance Journal https://ift.tt/2QZHY5D

Texas Asks Feds for $750M More in Harvey Relief Funds

Texas Land Commissioner George P. Bush said he is requesting $750 million in federal funds to be sent directly to Harris County after the county and Houston were awarded $0 out of the $1 billion pot in the latest round … from News – Insurance Journal https://ift.tt/3fqOBaj

Critics Decry New North Dakota Asbestos Law; Urge Screenings

Labor unions and veterans groups are urging North Dakotans who may have been exposed to asbestos to get screened before a new law takes effect that will make it more difficult to sue. Backers of the law, which will bar … from News – Insurance Journal https://ift.tt/3fq1rFQ

Internet Groups Warn Against Including Liability Shield in Trade Deals

A coalition of internet accountability groups is warning the Biden administration against including liability protections for tech companies in future trade agreements, saying that could hamstring efforts to hold platforms responsible for user content. In a letter sent to President … from News – Insurance Journal https://ift.tt/3vtJYSL

New Insurtech Advisor Insurance to Target Risks of Wealth Managers

K2 Placements and Wealth Advisor Growth Network (WAGN) have partnered on an insurtech platform for wealth managers buying business insurance to protect their firms. The new platform, Advisor Insurance, was designed to simplify the business insurance process for wealth managers … from News – Insurance Journal https://ift.tt/2SylJ7l

Nashville Apartment Fire Destroys 18 Units

A fire destroyed at least 18 units at a Nashville, Tennessee, apartment complex Monday night, fire officials said. News outlets reported that fire crews were called to the Brentwood Oaks Apartments around 8 p.m. Fire hydrants close to the building … from News – Insurance Journal https://ift.tt/3i0ylyK

3K Alabama Homes Now Strengthened to IBHS FORTIFIED Standards

The Strengthen Alabama Homes program has funded grants for 3,000 FORTIFIED roofs to help families protect their homes from severe weather, the Insurance Institute for Business & Home Safety (IBHS) said in a statement. The Strengthen Alabama Homes program, which … from News – Insurance Journal https://ift.tt/3vvBESq

USAA to Open Office in Charlotte, N.C., Add Hundreds of Workers

USAA will open a new office in Charlotte, N.C., later this year. The financial services company, which serves the military community, entered into a lease agreement for The Square at South End located at 200 West Boulevard, which will eventually … from News – Insurance Journal https://ift.tt/3fr9QZz

South Dakota Voters Passed Medical Pot, but Docs Hesitant

Medical marijuana advocates have convinced South Dakota voters that legalizing the drug for medical use is a good idea, but they are struggling to do the same with many of the state’s physicians. A split between the state’s largest doctors’ … from News – Insurance Journal https://ift.tt/34q6X5e

Car Crashes Through Roof of Missouri Home but No One Injured

Firefighters in suburban St. Louis said it’s astonishing no one was injured in a weekend crash that saw a car flip end-over-end down an embankment and crash through the roof of a home just feet from where two people were … from News – Insurance Journal https://ift.tt/34mHOs7

Wild Well Catches Fire in Louisiana; Workers Injured

At least seven people were injured when a wild well in a coastal Louisiana marsh caught fire while they were trying to control it, news outlets report. The owners said that the fire was out within two hours after it … from News – Insurance Journal https://ift.tt/3fxxK65

Italian Police Arrest 3 People After Funicular Disaster Kills 14

ROME (AP) – Police arrested three people Wednesday in the cable car disaster that killed 14 people in northern Italy, saying workers placed a clamp on the emergency brake to deactivate it as a patchwork repair – one that prevented … from News – Insurance Journal https://ift.tt/34pfzsS

Cyber Insurers Hike Rates But Worry About Pricing Long-Term As Losses Mount: Fitch

U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate improvement is unlikely this year from these actions and … from News – Insurance Journal https://ift.tt/3oXFktO

Penn. Court Says Tavern Entitled to Business Income Coverage for COVID-19 Losses

An insurer could have to pay for a Pennsylvania tavern’s business interruption losses after it shut down due to the COVID-19 pandemic because of a two-letter word in its policy. The Pennsylvania Court of Common Pleas for Allegheny County has … from News – Insurance Journal https://ift.tt/34opwqg

New U.S. Rules Require Pipelines to Report Cyber Incidents, Mitigate Risks

The Department of Homeland Security issued a new security directive for pipeline owners and operators on Thursday after a hack of the Colonial Pipeline disrupted fuel supplies in the southeastern United States for days this month. “The recent ransomware attack … from News – Insurance Journal https://ift.tt/3bT9RDF

BMS Launches Operations in Turkey, Hires Executive Team

BMS, the London-based independent specialist insurance and reinsurance broker, announced it has launched operations in Turkey. Called BMS Sigorta ve Reasürans Brokerliği, or “BMS Turkey,” the business is headquartered in Istanbul. Servet Gurkan, chairman, will lead the new operation along … from News – Insurance Journal https://ift.tt/3uAqpa9

Residents Debate Reopening of Car-Free San Francisco Streets

For Vanessa Gregson, the four-lane highway that borders the beach along San Francisco’s Pacific Ocean is now an automobile-free sanctuary where she can blissfully ride her bicycle and enjoy the quiet. “You hear the beach. You hear the waves,” said … from News – Insurance Journal https://ift.tt/3oWfpCx

Ag Groups Upset with Washington Governor for Farm Worker Rules

Some top agriculture groups are upset with Washington Gov. Jay Inslee because farm workers were not covered in last week’s announcement that fully vaccinated employees do not have to wear a mask or socially distance at work. Inslee also recently … from News – Insurance Journal https://ift.tt/3bZZ8Ht

Lloyd’s, London Insurers Form Joint Venture with DXC to Transform Digital Processing

Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, which aims to transform digital capabilities and reduce processing costs for the London insurance markets. The joint venture intends to “deliver both world class … from News – Insurance Journal https://ift.tt/3wCpxmx

Lawsuit Dismissed in Death of Woman Buried in Maryland Beach Sand

The lawsuit surrounding the death of a woman who was accidentally buried alive on a Maryland beach by a tractor has been dismissed from federal court. The Daily Times reports that attorneys representing Ocean City and the victim’s mother filed … from News – Insurance Journal https://ift.tt/3yKvtvy

Pennsylvania Lawmakers Now Hold Fate of Regulations Waived Amid Pandemic

With voters shifting major new responsibilities to them, Pennsylvania’s state lawmakers are now tasked with deciding whether hundreds of state government regulations waived during the COVID-19 pandemic should be reinstated. This massive review is fueled by Tuesday’s referendum in which … from News – Insurance Journal https://ift.tt/3hTTgDu

Bayer Unveils New Roundup Risk Management Plan After $2B Proposal Fails

Bayer said today it will initiate a series of actions to address potential future litigation over its Roundup weedkiller product following the rejection of its $2 billion Roundup class settlement yesterday by a U.S. judge. Bayer said the new package … from News – Insurance Journal https://ift.tt/34kuBjq

Suez Canal Authority Is Open to Further Talks with Owners of Seized Container Ship

CAIRO – The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process … from News – Insurance Journal https://ift.tt/34o4BUs

Dive In calls for active allyship as it confirms dates for 2021 festival

The seventh edition of the global festival for diversity and inclusion will take place on 21-23 September. from Insurer - insuranceage.co.uk https://ift.tt/2Tijfdr

Ardonagh Group Agrees to Purchase BGC’s Insurance Business for $500 Million

The Ardonagh Group, a leading UK insurance broker, announced it has agreed to acquire the insurance operations of BGC Partners Inc. for $500 million in cash. The transaction is expected to close in the second half of 2021, subject to … from News – Insurance Journal https://ift.tt/3fS5hqe

High Court approves RSA sale

The £7.2bn takeover of RSA by Intact and Tryg was announced last year. from Insurer - insuranceage.co.uk https://ift.tt/3wzXIvc

Government closes £10bn trade credit scheme and announces market review

The temporary measure was developed to respond to the Covid-19 pandemic as government also announces a review to ensure outcomes are good for consumers. from Insurer - insuranceage.co.uk https://ift.tt/3utA2Hk

Rising Global Temperatures Move Closer to Climate Change Tipping Point: U.N. Report

There is now a 40% chance that global temperatures will temporarily reach 1.5 degrees Celsius above pre-industrial levels in the next five years — and these odds are rising, a U.N. report said on Wednesday. a U.N. report said on … from News – Insurance Journal https://ift.tt/3fNRzF0

Shell Loses Landmark Climate Case in Ruling with Global Implications for Big Oil

THE HAGUE/LONDON – A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around the world. Shell said it was “disappointed” … from News – Insurance Journal https://ift.tt/2RScw9H

Chubb Updates Lower Middle Market Commercial Package Product

Chubb has rolled out a new insurance product for the lower middle market segment with an expanded base coverage offering in both property and liability. Benchmarq Package features scalable property and general liability coverages to protect clients from the risks … from News – Insurance Journal https://ift.tt/2QUUZ07

After Dutch Ruling Against Energy Company, Focus Turns to U.S. Climate Lawsuits

A landmark ruling on Wednesday by a Dutch court ordering Royal Dutch Shell to drastically cut its planned greenhouse gas emissions could impact the United States where most of the world’s climate cases are being litigated. About 1,375 lawsuits seeking … from News – Insurance Journal https://ift.tt/3cfrdLh

People Moves: Island Insurance Names Kuioka COO, The Liberty Company Insurance Brokers Adds Newman in California

Island Insurance Co. has promoted Scott Kuioka to senior vice president and chief operating officer. Kuioka will continue to serve as chief investment officer and chief risk officer, and oversee the commercial lines-large accounts division, and the personal lines, reinsurance, … from News – Insurance Journal https://ift.tt/3uquUUD

Judge Rejects Bayer’s $2 Billion Proposal to End Roundup Litigation

A U.S. judge rejected Bayer’s $2 billion class action proposal aimed at resolving future lawsuits alleging its Roundup weedkiller causes cancer, saying in a Wednesday order that parts of the plan were “clearly unreasonable.” U.S. District Court Judge Vince Chhabria … from News – Insurance Journal https://ift.tt/2RNg9xL

Northwestern Oklahoma Shaken by Preliminary Mag 4.5 Quake

A strong earthquake measured at a preliminary magnitude of 4.5 rattled a small northwestern Oklahoma town Tuesday but apparently caused no injuries or significant damage. The U.S. Geological Survey reported the quake struck about 1:25 p.m. near Shattuck, a town … from News – Insurance Journal https://ift.tt/3fpg0tf

U.S. Says Rules on Pilots’ Records Database Being Finalized

The Federal Aviation Administration said Wednesday it is finalizing rules establishing a long-delayed electronic pilot records database demanded by Congress in 2010 in the wake of a fatal crash. In March, the FAA published proposed rules to establish a new … from News – Insurance Journal https://ift.tt/3yDexqR

Maine Lawmaker Sued Over Trees Cut Down on Neighbors’ Land

A state lawmaker from Maine is facing a lawsuit from neighbors who say she and her husband cut down thousands of trees from their property to build a barn and horse paddock. Sasha and Christopher Malone filed the lawsuit against … from News – Insurance Journal https://ift.tt/2QSmW8S

People Moves: Embroker Names 2 Execs; Markel Promotes Castriotta; Kaufmann, McPhail Join WTW; Laufer, Pignataro to AGS Executive Team

Digital commercial lines insurer Embroker announced the appointment of a chief insurance officer and a chief technology officer. Steve Prymas, Embroker’s new chief insurance officer, brings 20 years of experience to the company, having served as vice president, Specialty Lines … from News – Insurance Journal https://ift.tt/2TePha9

Ex-UCLA Doctor Indicted on 21 Sexual Abuse Counts

A grand jury indicted a former gynecologist at the University of California, Los Angeles on 21 counts of sexual abuse offenses in a case where he is accused of sexually assaulting seven women, court documents say. Dr. James Heaps faces … from News – Insurance Journal https://ift.tt/3bV0iE4

Technology Upgrades Follow Cyberattack on Alaska Courts

The Alaska court system said it is taking steps aimed at avoiding future cyberattacks, such as upgrading software and “investing in technology that can better protect our systems from intrusion.” The court system, in a statement, said it continues to … from News – Insurance Journal https://ift.tt/3wrxefo

California Seeing More Wildfires as Drought Intensifies

As California sinks deeper into drought it already has had more than 900 additional wildfires than at this point in 2020, which was a record-breaking year that saw more than 4% of the state’s land scorched by flames. The danger … from News – Insurance Journal https://ift.tt/3oQ9BdT

Storm Surges Inundate Villages in Eastern India as Cyclone Yaas Moves Inland

BHUBANESWAR, India – Storm surges inundated dozens of villages in eastern India on Wednesday after a powerful cyclone moved inland from the Bay of Bengal, damaging thousands of mud homes in two coastal states and killing at least one person, … from News – Insurance Journal https://ift.tt/2Ss5fxl

Alabama Prohibits Businesses, Agencies From Requiring Vaccine Passports

Alabama Governor Kay Ivey on Monday signed a bill that prohibited private businesses and public institutions from requiring COVID-19 “vaccine passports” to access services or refusing those not inoculated against the coronavirus. “I’ve signed SB 267! Since the development of … from News – Insurance Journal https://ift.tt/3hPe8vE

Many Workers Begin to Return to Offices Transformed by COVID Safety Innovations

Masked, desk-bound and unable to recognize their colleagues in an elevator, people are starting to return to offices in cities around the world where the pandemic is receding. Many will find their offices transformed, too. In the challenge to make … from News – Insurance Journal https://ift.tt/3wANpHq

How 3D Technology is Deepening Claims Efficiency in Insurance

The use of 3D technology has been a topic of discussion in insurance for years, but for an industry that is historically slow to adopt technological change, its impact has not yet been as widely felt as originally thought. However, … from News – Insurance Journal https://ift.tt/3oPki0j

D&O Specialist MGA, Rising Edge, Launches with 4 Senior Appointments

Rising Edge, a London-based directors and officers (D&O) managing general agent, announced its official launch with the appointment of four key hires. As previously announced, Rising Edge will focus on D&O insurance and is led by Philippe Gouraud, a well-known … from News – Insurance Journal https://ift.tt/3yFByJN

Biden Administration Working to Boost Cybersecurity of Pipeline Companies

The Biden administration is working with pipeline companies to strengthen protections against cyberattacks following the Colonial Pipeline hack, with announcements of actions planned in coming days, the Department of Homeland Security (DHS) said on Tuesday. A ransomware attack forced Colonial … from News – Insurance Journal https://ift.tt/3oPK8Bj

Finland’s Sampo Sells $1.7B Stake in Nordea Bank, as It Moves Ahead with Planned Exit

The biggest shareholder in Nordea Bank Abp offloaded another chunk of its stake as it moves ahead with a planned exit from the Nordic region’s largest bank. Sampo Oyj sold 162 million shares in Nordea to institutional investors for 8.50 … from News – Insurance Journal https://ift.tt/2TerMOt

Aviva names Adam Winslow as UK & Ireland GI CEO

Winslow replaces Colm Holmes, who is moving across to Allianz to become UK CEO. from Insurer - insuranceage.co.uk https://ift.tt/3hQxlx3

Ransomware Attack Still Disrupting IT Systems of New Zealand Hospitals

Systems are still down a week after a ransomware attack disrupted the IT network of five hospitals in the New Zealand district of Waikato, and concerns remain that private patient information may have been exposed. Patients are being asked to … from News – Insurance Journal https://ift.tt/3yCw6Y5

Jon Dye to step down as Allianz UK CEO

Dye, who exits in November, is to be succeeded by Aviva's Colm Holmes. from Insurer - insuranceage.co.uk https://ift.tt/3uid45T

ERS gains approval for expansion into new business lines

The provider's Syndicate 1856 is moving into business classes including D&F property, marine and energy liability, political risk, terror and war, cargo and specie and professional lines, following $350m capital injection. from Insurer - insuranceage.co.uk https://ift.tt/3unSRvu

HSB Adds Coverages for Smart Farm Technology, Equipment

HSB, part of Munich Re. has launched HSB Precision Ag insurance, a suite of coverages for evolving farm data risks, technology and state-of-the-art equipment. Designed for large commercial enterprises and smaller family farms, the coverage combines equipment breakdown and cyber … from News – Insurance Journal https://ift.tt/3oSvzwA

Investigators Seek Cause of House Boat Explosion on Tennessee River

A woman was killed and a man was injured when a house boat exploded on a Tennessee river Sunday afternoon, according to the state Wildlife Resources Agency. The explosion happened shortly after the 38-foot (12-meter meter) vessel refueled near the … from News – Insurance Journal https://ift.tt/3hR0urJ

People Moves: The Plexus Groupe Adds Stollenwerck as VP; New Leadership at ANCO Insurance

The Plexus Groupe Commercial insurance brokerage and consulting firm, The Plexus Groupe, has named industry veteran John Stollenwerck to vice president of Business Development. He is based in Dallas. Stollenwerck has more than 20 years of client service experience across … from News – Insurance Journal https://ift.tt/3flqVo3

USDA: February Storms Created Ag Disaster Area in Louisiana Parish

The U.S. Department of Agriculture has designated Rapides Parish, Louisiana, as a primary natural disaster area because of the winter storm and ice from Feb. 15-21. Producers in Rapides and the seven parishes that touch it are eligible to apply … from News – Insurance Journal https://ift.tt/3oXxfoL

Despite Safety Questions, Tesla Sticks With Autopilot Cameras Without Radar Sensor

Tesla Inc. said on Tuesday its Model 3 and Model Y vehicles will be equipped with cameras and no radar sensor for semi-automated driving in North America starting this month. The move came amid growing scrutiny by regulators and media … from News – Insurance Journal https://ift.tt/3oSGreg

Wolves to Thank for 24% Drop in Deer-Auto Collisions

Ecologist Rolf Peterson remembers driving remote stretches of road in Michigan’s Upper Peninsula and seeing areas strewn with deer carcasses. But that changed after gray wolves arrived in the region from Canada and Minnesota. “When wolves moved in during the … from News – Insurance Journal https://ift.tt/3voTlTt

To Protect a Community from Climate Change, New York is Elevating a Park

Superstorm Sandy flooded lower Manhattan in 2012 with nearly 5 feet (1.5 m) of water, swamping the city’s subway and destroying homes and businesses. The storm and its aftermath were a wake-up call that New York City was not immune … from News – Insurance Journal https://ift.tt/2RC44LX

People Moves: AFL’s Ralf to Ballantyne; Arab Insurance Group’s Albaharna to Trust Re; Hunt Promoted at Chaucer as Lines Plans to Retire

This wrap-up of international People Moves details recent appointments at Ballantyne Brokers; Trust International Insurance and Reinsurance Co., and specialty re/insurer Chaucer. A summary of these new hires follows here. Ballantyne Brokers Ltd., the independent London broker, announced the appointment … from News – Insurance Journal https://ift.tt/3ukBL1B

Insurance Techknowledgy: Vertafore Unleashes Analytics for Agencies; MGA Mile Auto Raises $10.3M, Partners With Ford

Insurance agency technology firm Vertafore has released a product it says puts the power of data and analytics into the hands of independent agencies. The new offering, MarketTrends, helps agencies identify coverage trends, cross-sell opportunities and appropriate markets in an … from News – Insurance Journal https://ift.tt/3uneoV8

Crypto Insurer Evertas Raises $5.8M in Seed Funding

Evertas, a cryptoasset insurance company, said it has raised nearly $5.8 million in seed funding, which it will use to accelerate product development, increase its insurance cap[a city and build out its infrastructure. The insurer is focused on covering institutional … from News – Insurance Journal https://ift.tt/3wuXRA2

People Moves: 24 - 28 May 2021

Stay up-to-date with the latest personnel changes in the world of insurance. from Insurer - insuranceage.co.uk https://ift.tt/3hS8oRW

Mulsanne accuses Marshmallow of trying to "dump" clients

In an ongoing court battle Mulsanne claims Marshmallow has proposed to "dump" its clients in what the insurer brands a "potential serious regulatory breach". from Insurer - insuranceage.co.uk https://ift.tt/3yxlQR7

Broker Insights adds seven insurers and 150 brokers to platform

The insurtech startup also reported doubling its revenue and GWP in its second year of trading. from Insurer - insuranceage.co.uk https://ift.tt/2Srrzr3

Impending Dutch Court Decision to Test Shell’s Responsibility for Climate Change

A Dutch court verdict against Royal Dutch Shell Plc will determine whether it has a legal responsibility for climate change, in a case that will be watched by Big Oil executives globally. A panel of judges in a lower court … from News – Insurance Journal https://ift.tt/3yDFwm3

Generali Opens Representative Office in Brussels to Build Access to EU Decision-Makers

Italian insurer Generali has opened a representative office in Brussels to strengthen public affairs activities with the European Union. Generali said it aims to represent its business priorities while, at the same time, playing an increasingly active corporate citizenship role … from News – Insurance Journal https://ift.tt/2Styv6L

Renault-Nissan, Hyundai Face Factory Closures in India over Workers’ COVID-19 Fears

CHENNAI, India – Automakers Renault, its alliance partner Nissan Motor Co. and Hyundai Motor Co. face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan’s car plant in the southern … from News – Insurance Journal https://ift.tt/3viRBuY

Industry Veteran Charman to Retire from Sompo Int’l, Succeeded by Zurich’s Shea

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property/casualty insurance and reinsurance, announced that after eight years with the company and more than five decades in the industry, John Charman will retire from Sompo International at the end of … from News – Insurance Journal https://ift.tt/2QMN8BK

Homeowner Seeks $5M in Lawsuit Over ‘Rotten Egg’ Smell from S.C. Mill

A pulp and paper mill in South Carolina emits fumes that smells like rotten eggs and which nearby residents say have caused headaches and sore throats, a North Carolina homeowner says in a lawsuit. Kenny White, who lives in the … from News – Insurance Journal https://ift.tt/3bTijCN

Louisville Welcomes Justice Dept. Investigation of City’s Policing

For the people marching in the streets for more than a year after the killing of Breonna Taylor, a wide-ranging new federal investigation of policing in Louisville is seen as one more chance for justice. The demonstrations big and small … from News – Insurance Journal https://ift.tt/3bQXBDM

Judge Rejects State’s Argument in South Dakota Sinkhole Case

A judge has rejected the state of South Dakota’s argument that homeowners in a Black Hawk neighborhood lack legal standing to seek damages due to a sinkhole. The Rapid City Journal reports Judge Kevin Krull’s May 14 ruling may now … from News – Insurance Journal https://ift.tt/3vwdcA4

Iowa DHS Employee Awarded $790K in Sex Harassment Suit

A jury has awarded an Iowa Department of Human Services employee $790,000 in damages in her lawsuit accusing the department of fostering sexual harassment. The jury handed down the award at the conclusion of the nearly two-week-long trial in a … from News – Insurance Journal https://ift.tt/3yBMKY4

Texas Rehab Center to Pay $146.6K to Settle Pregnancy Discrimination Suit

A Dallas rehabilitation facility will pay $146,613 to settle charges that it unlawfully fired an employee because of her need for additional leave to recover from caesarean section, according to the U.S. Equal Employment Opportunity Commission (EEOC). Dallas-based Greenhouse Outpatient … from News – Insurance Journal https://ift.tt/2RBaCKN

Ban on Handheld Phone Use While Driving Passes Louisiana House

Louisiana drivers would have to use a handsfree device or put their cellphones on speaker mode to talk on the phone while driving or risk a fine from police, under a proposal that won House backing. Republican Rep. Mike Huval, … from News – Insurance Journal https://ift.tt/34h5DkR

Owners Will Rebuild Iowa Grain Elevator Following Explosion

A dust explosion at a central Iowa grain elevator earlier this month should not affect storage capacity or operations during this fall’s harvest, the company said. Landus Cooperative grain elevator in Jefferson said in a news release that it expects … from News – Insurance Journal https://ift.tt/3ugCa55

Three Disasters Show Gaps in Infrastructure Plan

Three times this year, major pieces of U.S. infrastructure have failed: first the Texas power grid, then the East Coast’s main gasoline pipeline, then a freeway bridge over the Mississippi River. The crises disrupted businesses and lives, cost billions and … from News – Insurance Journal https://ift.tt/3ufRUp3

White House Boosts Spending for Disaster, Extreme Weather Preparations

The United States will double its spending to $1 billion on preparations for extreme weather and other natural disasters as part of the battle against climate change, the White House said on Monday. It issued the statement just ahead of … from News – Insurance Journal https://ift.tt/3oLgHjC

Former Washington Logger Charged in Nearly $300K Workers’ Comp Scam

A Cowlitz County, Wash., man stands accused of faking injuries to collect nearly $300,000 in workers’ compensation benefits. James Joseph Thomasson, 52, of Kalama, is scheduled to be arraigned Tuesday in Thurston County Superior Court on one count of felony … from News – Insurance Journal https://ift.tt/3fgk5jy

The Highs, Low of Agency Q1 Profitability and the Post-Pandemic Path Forward: Reagan

Insurance agencies reported a couple of highs and a low in first quarter profitability results, according to the latest Reagan Consulting Growth & Profitability Survey of the agency consulting firm’s agents and broker clients. Three industry measures were the best … from News – Insurance Journal https://ift.tt/3fg8osX

Online Boating Marketplace Boatim Adds Insurance with Marine Broker Partner AMI

Boatim Inc., a company offering digital boating products and services, has launched an online boat insurance offering for U.S. customers. Through a partnership with international marine insurance broker American Marine Insurance (AMI), Boatim customers can access coverage from insurers Markel, … from News – Insurance Journal https://ift.tt/34eMjop

Air India’s February Data Breach Affected 4.5 Million Passengers

NEW DELHI – Personal data of about 4.5 million passengers of Air India was leaked in a cyber attack on the airline’s data processor but the compromised servers were later secured, the Indian state-run carrier said in a statement. The … from News – Insurance Journal https://ift.tt/3bKF9wr

Barclays Dragged into Bitter Feud Between SCOR and Covéa over Failed Hostile Takeover

Barclays Plc has been dragged into a bitter feud between two French insurers over its role in a failed hostile takeover bid. SCOR SE is suing Barclays in London for breach of confidence when the bank advised Covéa on its … from News – Insurance Journal https://ift.tt/3fbkio1

Utica National Adds Crisis Response Services for Educational Institution Insureds

The member companies of the Utica National Insurance Group have partnered with Empathia, Inc. to provide crisis counseling services, and The Castle Group to provide crisis public relations services to its school policyholders. According to Brian Saville, Utica National Educational … from News – Insurance Journal https://ift.tt/3wvD1k8

India Braces for Second Severe Cyclone in 10 Days

India braces for the second severe storm in about 10 days, with authorities in the eastern region preparing to evacuate people to safer places at a time when the country is battling the world’s worst outbreak of COVID-19. Cyclone Yaas, … from News – Insurance Journal https://ift.tt/3oL12RF

Bank of England Plans to Nudge Companies to Cut Greenhouse Gas Emissions

LONDON – The Bank of England set out plans on Friday to use its 20 billion pounds ($28.4 billion) of corporate bond holdings to nudge companies to cut greenhouse gas emissions faster, part of a wider government strategy to achieve … from News – Insurance Journal https://ift.tt/34ivybP

Hack of Leading Japanese Dating App Could Expose Personal Data of 2 Million Users

A leading Japanese matchmaking app was hacked, likely exposing the personal information of more than 1.7 million account holders, in the latest high-profile online attack. Net Marketing Co., which runs the Omiai dating app, said that it found evidence of … from News – Insurance Journal https://ift.tt/3fK24Jg

Delaware Man Sentenced to Prison for Role in $2M Fraud Plot

A Delaware man was sentenced on Friday to nearly four years in prison for his role in a plot to defraud a beauty product manufacturer out of more than $2 million. U.S. District Judge James Bredar in Baltimore also ordered … from News – Insurance Journal https://ift.tt/3fDQRKp

Pennsylvania Woman Sentenced to Jail for Filing False Auto Insurance Claims

A Morrisville, Pennsylvania, woman was sentenced to four to 23 months in county jail for submitting a series of false auto insurance claims over the past few years that defrauded two auto insurance companies of almost $40,000. Shaminga L. Davis … from News – Insurance Journal https://ift.tt/3vfslpC

Vermont Law Restricts Sale of Products Containing PFAS

Vermont Governor Phil Scott has signed a bill into law that restricts the use, manufacture and sale of products in Vermont containing a group of toxic chemicals collectively known as PFAS. The products include certain firefighting foams and equipment, food … from News – Insurance Journal https://ift.tt/349ifKL

Beneath the Surface: Why Insurers Should Look Beyond “the Tip of the A.I. Iceberg”

Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe that among relevant technology, artificial intelligence (A.I.) will have the greatest impact on claims and fraud detection over the next … from News – Insurance Journal https://ift.tt/34oLUA5

Relaxed Mask Rules Make Some Retail Workers Nervous

An abrupt relaxation of mask policies has left workers at some retail and grocery stores reeling as they try to sort out what the new environment means for their own safety and relationship with customers. Kroger, the country’s largest grocery … from News – Insurance Journal https://ift.tt/2SpTHec

Debate Over Liability Holds Up Self-Driving Car Legislation in Senate

A debate over who to blame — or sue — when a self-driven car hits someone is holding up legislation the industry says it needs to advance. “If another driver hits you, it’s clear who the driver is,” Sarah Rooney, … from News – Insurance Journal https://ift.tt/3oHj3A6

Two Takeaways from Delta-8 Conversation

Delta-8 is generating quite a buzz over what appears to be legal loophole enabling the production and sales of the intoxicating product in both legal and non-legal states. New York just became the latest state to ban delta-8 THC, as … from News – Insurance Journal https://ift.tt/3wt0cLJ

People Moves: Hapworth to Lead Amwins’ AEU; Former NFLer Ayodele Joins Spoznik Agency; Century Risk Advisors Adds Sawyer

Hapworth Appointed CEO of Alabama-Based American Equity Underwriters The American Equity Underwriters, Inc. (AEU, an Amwins Company), a provider of workers’ compensation insurance for waterfront employers and program administrator for American Longshore Mutual Association Ltd. (ALMA), has picked Adele S. … from News – Insurance Journal https://ift.tt/3veZsKd

Tennessee Opening 3 Recovery Centers for People Dealing with March Floods

Tennessee officials are opening three recovery centers to help people find assistance after flooding in March. The Tennessee Emergency Management Agency says the Multi-Agency Recovery Centers open Saturday in Nashville-Davidson, Williamson and Wilson counties. The Tennessee agency, the Federal Emergency … from News – Insurance Journal https://ift.tt/2SfC0xH

2 Atlanta Warehouses Damaged by Fire, Nearby Apartment Building Saved

Firefighters in Atlanta say they successfully contained a fire that engulfed two warehouses in the city overnight on Thursday. No injuries were reported and authorities said no one appeared to be inside the burning storage buildings. Atlanta Fire Department crews … from News – Insurance Journal https://ift.tt/3fzWeu4

Houston Area to Get little of $1B in Federal Harvey Flood Aid

Houston area officials expressed shock and anger on May 21 after learning that their communities, which suffered the brunt of damage from Hurricane Harvey, would be getting only a small part of the $1 billion that Texas is awarding as … from News – Insurance Journal https://ift.tt/3fezS29

Michigan Property Owners Win Key Court Ruling in Failed Dams Lawsuit

Property owners near dams that failed in the Midland area won a key decision in lawsuits against the state. Judge Cynthia Stephens said the lawsuits can go forward, rejecting a request to dismiss by the Department of Environment, Great Lakes … from News – Insurance Journal https://ift.tt/3oK4bkH

Deck Collapse at Ohio Home During Party Leaves 4 Hospitalized

The collapse of the deck of an Ohio home during a party with more than two dozen people present sent at least four people to the hospital and injured several others, authorities said. The Madison Township fire department in Butler … from News – Insurance Journal https://ift.tt/3wrdcBE

Louisiana Sets Up $30M Buyout Program for Flood-Prone Lake Charles Neighborhood

Louisiana is offering a $30 million voluntary buyout program to residents of a neighborhood that has flooded three times in recent years, Gov. John Bel Edwards said on May 21. Recent rains brought the latest floods to the Greinwich Terrace … from News – Insurance Journal https://ift.tt/3uesWX6

Security Shutdown Stops Hack of Tulsa, Oklahoma’s Computer System

Most residents of Tulsa are being prevented from paying their water bills after the city shut down its computer network as a security measure following an attempted ransomware attack, a city official said. The attempted breach was stopped before any … from News – Insurance Journal https://ift.tt/3hKusOh

Wisconsin Court Rejects Man’s Suit Against Insurer After Bull Attack

A man who fell into depression and attempted suicide after he was gored by a bull can’t sue an insurance company for deciding to stop covering his medication, the Wisconsin Supreme Court ruled. According to court documents, Francis Graef was … from News – Insurance Journal https://ift.tt/3uh8PYp

Tropical Storm Ana Begins Expected Above-Normal 2021 Atlantic Hurricane Season

Just days after weather forecasters predicted another above-normal Atlantic hurricane season in 2021, Ana launched the season by forming off of Bermuda. Ana reached Tropical Storm status early on Sunday northeast of Bermuda, but then weakened to a Tropical Depression. … from News – Insurance Journal https://ift.tt/34ofohv

Florida Construction Co. Owner Arrested for Evading Payment of Workers’ Comp Premium

The owner of a Florida construction business has been arrested for allegedly concealing payroll information to avoid paying more than $718,000 in workers’ compensation premiums, according to a statement from the Florida Department of Financial Services (DFS). An investigation by … from News – Insurance Journal https://ift.tt/3wqqLRW

Tennessee Dept. of Insurance Enables Remote Testing for Insurance Producers

The Tennessee Department of Commerce & Insurance (TDCI) has announced that Tennesseans seeking certification as insurance producers can now take their insurance exams remotely. Starting May 21, 2021, exams for prospective insurance producers can be taken at home, at the … from News – Insurance Journal https://ift.tt/3bLqocz

CNA Paid $40 Million in Ransom After March Cyber Attack

CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack, according to people with knowledge of the attack. The Chicago-based company paid the … from News – Insurance Journal https://ift.tt/3hK6mDo

Black Media Mogul Allen Alleges Advertising Bias in Suing McDonald’s for $10 Billion

McDonald’s Corp. was sued on Thursday for at least $10 billion by two companies owned by media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising enough with Black-owned media outlets. The complaint filed in … from News – Insurance Journal https://ift.tt/3vaHicu

Hawaii Can Expect 2 to 5 Storms During Hurricane Season

The central Pacific basin including Hawaii can expect between two and five tropical depressions, tropical storms or hurricanes this year, federal forecasters said Wednesday. The annual National Weather Service prediction said there is about an 80% chance of a near … from News – Insurance Journal https://ift.tt/341vLAl

Alaska Health Website Targeted in Malware Attack

The Alaska health department website was the target of a malware attack, officials said. A similar attack previously targeted the state’s court system. The health department in a statement late Tuesday said its website was taken offline Monday while an … from News – Insurance Journal https://ift.tt/2RthQ3p

Washington Creates New Farmworker Safety Team

The Washington state Department of Labor and Industries is creating a new team aimed at improving farmworker safety. When fully staffed, the agriculture compliance unit will create 16 new positions, the Yakima Herald reported. Thirteen of those posts will focus … from News – Insurance Journal https://ift.tt/3ueO3ZC

AM Best Revises Outlook to Stable for Topa in California

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Topa Insurance Co. in Calabasas, Calif. and its subsidiary, Dorchester Insurance … from News – Insurance Journal https://ift.tt/3oOjOHT

People Moves: Lockton Transactional Team; Marsh Counsel; Kemper Chairman; BMS Re CFO; AgriSompo North America

Lockton is bolstering its transaction liability team with key hires across the three transaction liability insurance product lines: Representations and Warranties Insurance, Tax Liability Insurance and Contingent Liability and Litigation Insurance. These hires come on the heels of Lockton’s addition … from News – Insurance Journal https://ift.tt/2RAI2sM

Canada Faces Mega-Hurricanes if Climate Change Pushes Storms North: Swiss Re Warns

Climate change is making hurricanes bigger and stronger, and it may soon push them farther north. Yet Canada’s homeowners, businesses and insurers underestimate that escalating risk, according to one of the world’s leading reinsurance firms. Overall, the northern nation has … from News – Insurance Journal https://ift.tt/345SeMG

Irish Health Service Hackers Offer Decryption Key – but $20M Ransom Demand Remains

A day after threatening to publicly release patient data, the hackers who targeted Ireland’s health service offered a decryption key that they said could be used to unlock computers infected with ransomware. While seeming to offer an olive branch — … from News – Insurance Journal https://ift.tt/3hKwMES

Biden Executive Order Initiates Broad Strategy to Assess, Mitigate Climate Change Risks

President Joe Biden on Thursday directed federal agencies to assess and mitigate the increasing and serious risks that climate change poses to individuals, businesses, the federal government and the U.S. financial system, the White House said. Biden issued an executive … from News – Insurance Journal https://ift.tt/3v8CsMO

Africa Specialty Risks Launches Mauritius Reinsurer, Backed by PE Firm Helios

Africa Specialty Risks (ASR), a reinsurance managing general agent focused on the African corporate and specialty market, announced it has launched a fully capitalized and licensed reinsurer based in Mauritius. Alongside the reinsurer license, ASR has also been granted a … from News – Insurance Journal https://ift.tt/3fz6QcK

Waffle Raises $5M for Its ‘All-in-One’ Virtual Insurance Agency

The insurtech Waffle has raised $5 million in seed funding, with plans to offer cyber, renters, pet, travel and life insurance in the initial launch of its new virtual agency platform. Auto and home insurance are to be added by … from News – Insurance Journal https://ift.tt/3477DfD

Louisiana, Texas Brace for More Heavy Rain and Flooding

Heavy rain across the eastern Texas and western Louisiana Gulf Coasts may bring more flooding on Friday, the National Weather Service said, with rainfall-related deaths rising to five in Louisiana. Of the five deaths, four involved people driving into high … from News – Insurance Journal https://ift.tt/3f71XZn

Italy Probes Alleged Cartel Among Auto Insurers, Including Allianz Direct, Zurich

MILAN – Italy’s antitrust watchdog said on Friday it had opened an investigation into an alleged cartel among insurance companies and insurance price comparison companies to limit competition for automobile insurance. In a statement, the Italian Competition Authority said the … from News – Insurance Journal https://ift.tt/2RAtr0u

Insurance Hound: Most read by brokers in March and April 2021

Which topics have caught brokers’ eyes this spring? from Insurer - insuranceage.co.uk https://ift.tt/2TcdSg5

Student Blamed for Cyber Attack on Massachusetts School’s Network

A student was behind a cyber attack on a Massachusetts school system this week that temporarily shut down the district’s computer network, disrupted remote learning, and forced the postponement of exams, officials said. The attack on the Agawam school district … from News – Insurance Journal https://ift.tt/3v7jMx2

Staffers Allege that Employer Ignored COVID Precautions in Massachusetts

A Massachusetts man claims that a national addiction treatment program with offices in Pittsfield and Cummington failed to take precautions to protect him, fellow staff members, as well as residential clients from COVID-19 infection. Stephen Seward and four co-workers filed … from News – Insurance Journal https://ift.tt/3v7ET2h

As One New Jersey Forest Fire is Contained, a Second Starts

As New Jersey firefighters gained control of one forest fire in the heavily wooded Pinelands region, a second broke out, and was halfway contained as of Tuesday afternoon. The New Jersey Forest Fire Service said it had fully contained a … from News – Insurance Journal https://ift.tt/3womo9X

Australia Bushfire Funding ‘Welcome’ but Insurance Tax Rise ‘Unsustainable:’ ICA

The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects. However, the ICA emphasized that the projected growth in taxes … from News – Insurance Journal https://ift.tt/2Tc1Rat

Europe’s Aviation Regulator Says Flying Taxis Could Be Airborne by 2024 or 2025

PARIS – Europe could see the first flying taxis enter service as early as 2024, the region’s top aviation regulator said on Wednesday. More than half a dozen European firms have announced developments of Urban Air Mobility vehicles for passenger … from News – Insurance Journal https://ift.tt/3wqRBsS

Lumen Risk Services, Transverse to Offer Commercial Property Coverage

Program administrator Lumen Risk Services, in partnership with Transverse Insurance Group, has launched a new commercial property insurance program. The non-admitted program will initially offer monoline property coverage for multi-family, hospitality, and light commercial property accounts with plans to expand … from News – Insurance Journal https://ift.tt/3bKaFdT

Fed Warns Credit Scores ‘May Lose Some Power’ After Covid

The Federal Reserve Bank of New York warned that credit scores — the all-powerful number that can determine if a consumer is able to qualify for a loan, rent a home or even buy car insurance — might have gotten … from News – Insurance Journal https://ift.tt/3u4QUUT

Lawsuits Over University of Delaware COVID-19 Shutdown Can Proceed

A federal judge on Tuesday refused to dismiss two lawsuits filed against the University of Delaware by current and former students who argue that they are entitled to refunds for services they didn’t receive when officials shut down the campus … from News – Insurance Journal https://ift.tt/3u4LJEr

Ex-Gynecologist in Virginia Gets 59 Years on Fraud Conviction

A former gynecologist in Virginia who was convicted on fraud charges for performing unnecessary surgeries and procedures was sentenced Tuesday to 59 years in prison. Dr. Javaid Perwaiz also was ordered to pay $18.5 million to insurance companies that covered … from News – Insurance Journal https://ift.tt/33XRx7W

Element Risk Management Acquires Pennsylvania’s Smith Insurance

Element Risk Management has acquired Smith Insurance with locations in Hershey and Williamstown, Pennsylvania. Smith Insurance was founded as a small insurance agency by James J. Smith in 1933. The agency was bought by Bruce Moore in 1983, and he … from News – Insurance Journal https://ift.tt/3v4o6Nt

Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil

Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain’s economy. “During this period of economic uncertainty, it has become increasingly … from News – Insurance Journal https://ift.tt/3fDqyEi

‘Cat-Prone’ Startup Kin Insurance in Talks to Go Public With ‘Shark Tank’ Judge’s SPAC

Home-coverage startup Kin Insurance is in talks to go public via Omnichannel Acquisition Corp., a special purpose acquisition company led by recurring “Shark Tank” guest judge Matt Higgins, according to people with knowledge of the matter. The combined entity is … from News – Insurance Journal https://ift.tt/3bCS2bB

CII New Generation group warns on customer trust as report highlights barriers

The report said the insurance sector could refocus its efforts towards building trust with its customers, particularly SMEs. from Insurer - insuranceage.co.uk https://ift.tt/3tYdjmE

Square Pegs Becomes Castel Underwriting Cell, Offering Cover for Difficult SME Risks

Square Pegs, which offers specialist insurance coverage for complex and unusual risks via a dedicated e-trading platform, has become a standalone underwriting cell within Castel Underwriting Agencies Ltd. Focused on small and medium sized enterprises, Square Pegs enables brokers to … from News – Insurance Journal https://ift.tt/3ysQCdy

UK Pushes G-7 Countries to Adopt Mandatory Climate Reporting for Big Companies

UK Chancellor of the Exchequer Rishi Sunak is pushing the Group of Seven (G-7) economies to impose mandatory reporting of environmental risks on their big companies, people familiar with the matter said. Under the proposals, the biggest companies would report … from News – Insurance Journal https://ift.tt/3v77cxD

Trial Operations of Flying Taxis, Cargo Drones Will Begin in England This Year

Trial operations of flying taxis and cargo drones will begin in Coventry, England, before the end of the year as part of a plan to develop “aerial roads” for unmanned flights in urban areas. The project, backed by 1.2 million … from News – Insurance Journal https://ift.tt/3fz6fYm

London’s ‘Golden Age’ as Europe’s Financial Center Has Ended: NatWest Chair

The City of London’s ‘Golden Age’ as Europe’s financial capital is over following Brexit, but it will remain a major and profitable center, NatWest bank chairman Howard Davies said on Tuesday. The City has been largely cut off from the … from News – Insurance Journal https://ift.tt/3oxEO5c

Square Pegs expands SME product range

The organisation has also become a standalone underwriting cell within Castel. from Insurer - insuranceage.co.uk https://ift.tt/2T6vqdm

Irish Patient Data May Have Been Posted on Dark Web After Cyber Attack: Minister Says

Reports of Irish patient data posted online after a cyber attack on Ireland’s health service appear to be accurate, a government minister said, as the fallout from the hack continues. A Financial Times report that some patient data has appeared … from News – Insurance Journal https://ift.tt/3yruhgr

Arrowhead Launches E&S Program, Names Murray as President

Arrowhead General Insurance Agency Inc. has launched a new excess & surplus lines program and named Bill Murray as its president. The new E&S program operates as part of the National Programs division of Brown & Brown Inc., and initially … from News – Insurance Journal https://ift.tt/3f0DXa3

Louisiana Private Flood Insurance Bill Returned to House from Senate

A Louisiana bill that would make it easier for private flood insurance carriers to offer flood insurance in the state has been sent back to the House to contemplate amendments added by the Senate. House Bill 577, by Rep. Scott … from News – Insurance Journal https://ift.tt/3oyveiP

Environmental Groups Sue Feds Over W. Virginia Mine Reclamation Program

Environmental groups are seeking to force the federal government to address an underfunded program in West Virginia whose purpose is to help cover the costs of coal mine reclamation. The lawsuit said the U.S. Office of Surface Mining Reclamation and … from News – Insurance Journal https://ift.tt/3va9CMc

People Moves: CAC Specialty in Colorado Adds Lynch, Lockton Pacific Adds Lupe in California

CAC Specialty in Colorado has named Erin Lynch president of its natural resources division and co-leader of its power, utility and renewables vertical. Lynch most recently led the global energy practice at Beecher Carlson during her 14-year tenure. CAC Specialty … from News – Insurance Journal https://ift.tt/3ysdYA0

Climate Change Caused $8 Billion of Hurricane Sandy’s Economic Losses: Study

When Hurricane Sandy barreled over New York City and the East Coast in 2012, it caused $63 billion in damage, making it one of the costliest storms in U.S. history. Now, scientists have estimated that climate change pushed that price … from News – Insurance Journal https://ift.tt/3bESFSm

Suit Claims Owners Drove Brooks Brothers to Bankruptcy to Avoid Paying Investor

The billionaire Italian family that until recently owned Brooks Brothers has been accused in a lawsuit of driving the iconic apparel retailer into bankruptcy instead of selling it, to avoid paying millions of dollars to an investor. In a complaint … from News – Insurance Journal https://ift.tt/3ovehpp

Insurance Comparison Site Jerry Raises $28 Million

Auto insurance comparison site Jerry has raised $28 million in new financing. The startup, which operates as a licensed insurance broker, plans to use the money to scale its signature product and pursue hiring, so it can expand into additional … from News – Insurance Journal https://ift.tt/3v3qwvD

Medical Marijuana Now Legal in Alabama After Decades of Debate

Alabama Gov. Kay Ivey signed medical marijuana legislation Monday as Republican opposition to the issue faded after decades of debate. The program will allow people with a qualifying medical condition to purchase medical marijuana with the recommendation of a doctor. … from News – Insurance Journal https://ift.tt/3wnydgm

Nebraska Lawmakers Say ‘No’ to Mandated Virus Protections for Meat Workers

Nebraska lawmakers have rejected state-mandated coronavirus protections for meatpacking workers, with opponents arguing that slaughterhouses have already taken precautions and that the pandemic is nearly over. Lawmakers voted, 25-18, to sideline the measure for the rest of the year, even … from News – Insurance Journal https://ift.tt/3u3Fi48

NTSB: Louisiana Offshore Lift Boat Flipped While Lowering Legs, Turning

An offshore oil industry boat had begun to lower its legs and was trying to turn to face heavy winds when it flipped in the Gulf of Mexico off Louisiana last month, according to a preliminary federal report released on … from News – Insurance Journal https://ift.tt/2RAoggV

Organizations Miss Competitive Advantage by Underemphasizing Emerging Risks: Marsh

Cyber attacks, climate change, geopolitical unrest — organizations agree on what some of the emerging risks that pose threats are. But they lag in understanding just how much of a threat they can be. Despite a broad consensus across large … from News – Insurance Journal https://ift.tt/3v0Vtkk

USAA Expands Telematics Auto Insurance App SafePilot to 7 More States

Military family-focused insurer USAA is expanding its SafePilot program to seven additional states, bringing the total where the telematics program is available to 23. The new states are Alabama, Colorado, Minnesota, Nebraska, Nevada, Oklahoma and Utah. The USAA SafePilot app … from News – Insurance Journal https://ift.tt/2QwZTAh

Brooklyn Landlord Charged in Deadly Fire Started by Space Heater

A Brooklyn landlord has been charged with manslaughter for the death of a tenant who jumped out of a window to escape a fire prosecutors said was caused by a space heater in a building that did not have heat. … from News – Insurance Journal https://ift.tt/3u1PJ8k

Explosion Damages New Hampshire House Under Construction, Worker Burned

An explosion happened at an Amherst house that was under construction, causing a contractor to suffer burn injuries to his arms, New Hampshire fire investigators said Friday. Firefighters responded to the house near Baboosic Lake shortly before 9:30 a.m. and … from News – Insurance Journal https://ift.tt/33XXUZ2

Several Injured in Gas Explosion in Baltimore County

Several people were injured Friday, including one critically, after a gas explosion in a Baltimore County neighborhood, officials said. Elise Armacost, a Baltimore County Fire Department spokeswoman, said authorities at the scene are assessing the number injured and the extent … from News – Insurance Journal https://ift.tt/3ynO3cU

Howden Acquires UK Specialist Broker Medical Professional Risk Solutions (MPRS)

Howden Broking announced it has acquired Medical Professional Risk Solutions (MPRS), a specialist insurance broker for the primary care sector, for an undisclosed sum. Howden said the acquisition adds further expertise to its Health & Care division. Founded in 2014 … from News – Insurance Journal https://ift.tt/3wjyd0W

Metromile, Hippo Begin Offering Bundled Auto, Home Coverages in 8 States

Metromile and Hippo Insurance are partnering to offer home and auto insurance in a discounted bundled product. Drivers and homeowners will be able to purchase pay-per-mile auto insurance from Metromile and homeowners insurance from Hippo and save up to 15 … from News – Insurance Journal https://ift.tt/3v5EQnE

Indian Rescuers Continue Search and Rescue After Cyclone Tauktae; 51 Still Missing

AHMEDABAD/MUMBAI – Naval vessels and aircraft scoured the waters off India’s west coast on Wednesday after the most powerful cyclone in more than two decades battered the region, sinking a barge and killing 22 aboard, authorities said. Cyclone Tauktae unleashed … from News – Insurance Journal https://ift.tt/3oumHx6

Huw Evans to exit the ABI

The insurer trade body will commence its search for a replacement director general shortly as it reveals Evans will be joining KPMG in January 2022. from Insurer - insuranceage.co.uk https://ift.tt/3v0NvHX

Covid-19 lockdowns push van premiums down 2% year-on-year

Data from Consumer Intelligence also shows that each time the UK has emerged from lockdown, prices have increased again. from Insurer - insuranceage.co.uk https://ift.tt/3fxf1Gb

Jackson Lee takes over Biba holiday travel scheme

The trade body previously partnered with DTW Syndicate 1991, which went into run-off at the end of last year, on the scheme. from Insurer - insuranceage.co.uk https://ift.tt/33TYsPu

Ransomware Attacks Hit AXA’s Asia Units, New Zealand Health Provider

BANGKOK (AP) – The Thai affiliate of Paris-based insurance company AXA said Tuesday it is investigating a ransomware attack by Russian-speaking cybercriminals that has affected operations in Thailand, Malaysia, Hong Kong and the Philippines. Meanwhile, a cyber attack on a … from News – Insurance Journal https://ift.tt/33XLJvk

Construction Firm Grupo Carso Faces Probe After Collapse of Mexico City Railway Line

MEXICO CITY – Mexican billionaire Carlos Slim’s construction arm Grupo Carso faces scrutiny from accident investigators for the possible role it played in the building of a metro railway line that collapsed this month, killing 26 people. While no officials … from News – Insurance Journal https://ift.tt/2SSYgO6

March Storm in Eastern Canada Cost Insurers C$50 Million

A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Damage reports spanned the region … from News – Insurance Journal https://ift.tt/3fJsACT

Alera Group Acquires Direct Benefits in Minnesota

Alera Group, an independent, national insurance and wealth management firm based in Deerfield, Illinois, has acquired Direct Benefits Inc., located in Saint Paul, Minnesota. Direct Benefits specializes in insuring individuals, families, retirees and small businesses with dental, vision, pet, travel, … from News – Insurance Journal https://ift.tt/3ypwf0O

Hasner, Knight, Telemaco Join Board of Citizens Property Insurance

Governor Ron DeSantis has appointed three new members to the board of governors of Citizens Property Insurance Corp., his office said in a statement. Jillian Hasner of Boca Raton currently serves as president and chief executive officer of Take Stock … from News – Insurance Journal https://ift.tt/3oryP22

ISC Launches General Liability Program for Gig Economy Contractors

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 a new general liability policy program for gig economy contractors. The program provides contractors “by the job” … from News – Insurance Journal https://ift.tt/3fuBBPV

Dozens More Sue Ohio State over Doc’s Alleged Sex Abuse, Misconduct

Dozens more men are suing Ohio State over the university’s failure to stop sexual abuse and misconduct decades ago by team doctor Richard Strauss. They echo claims filed previously by over 400 men, many of whom allege they were groped … from News – Insurance Journal https://ift.tt/3bBNrH0

Conduent to Pay $395K in Back Wages to Settle Oklahoma Discrimination Case

A company with a Yukon, Oklahoma, facility has agreed to pay $395,000 in back wages under a settlement of allegations that it discriminated against Black, Asian, Native Hawaiian and Pacific Islander job applicants, the U.S. Labor Department reported. Under the … from News – Insurance Journal https://ift.tt/3hCKpGi

Attorney: Michigan Flood Victims May Have to Wait for Accountability

A lawsuit that accuses the state of Michigan of failing to regulate and enforce safety regulations on a dam that failed, causing an estimated $200 million in damages and destroying 2,500 structures, may not be resolved soon, an attorney representing … from News – Insurance Journal https://ift.tt/3eZc5TZ

Amazon Continues Moratorium on Police Use of Its Facial Recognition Software

Amazon.com Inc. said on Tuesday it is extending until further notice a moratorium it imposed last year on police use of its facial recognition software. The company had halted the practice for one year starting in June 2020. Its announcement … from News – Insurance Journal https://ift.tt/3wigMhn

5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS

While a typical business interruption can often be a confusing insurance situation, the picture gets even muddier when it involves cyber coverage. Chris Mortifoglio, a forensic accountant, knows all too well how muddy it can become. “I will tell you … from News – Insurance Journal https://ift.tt/3v2i93p

Judge Has Questions About Bayer’s $2 Billion Roundup Settlement

A federal judge on Tuesday questioned a $2 billion proposal by Bayer AG that would create a framework for resolving future claims that its Roundup weedkiller causes cancer, casting doubt on the plan a day before a key hearing. Bayer … from News – Insurance Journal https://ift.tt/3fJkCJZ

Labor Leader Urges U.S. to Require Human Drivers in Automated Vehicles

A senior American labor union leader will tell U.S. lawmakers on Tuesday that the government should require human operators in all self-driving passenger services to take over in the event of an emergency. Greg Regan, president of the Transportation Trades … from News – Insurance Journal https://ift.tt/3tRIEaw

Parties in Connecticut Class-Action Lead Suit to Give Settlement Details

Information on an impending settlement in a class-action lawsuit over lead poisoning in New Haven, Connecticut, children is expected to be released Monday. The New Haven Register reports the parties are scheduled to give details on a settlement in the … from News – Insurance Journal https://ift.tt/3fpwIHX

People Moves: Metromile Adds Capital One Exec; Spinnaker Names CEO From USAA; Carpenter’s Snyder Joins TigerRisk

Digital pay-per-mile auto insurer Metromile has hired a Capital One marketing veteran to help shepherd national growth. Troy Dye, who was with the credit card giant for 20 years, will have the title of senior vice president, Growth, once he … from News – Insurance Journal https://ift.tt/33Udh4w

Open GI partners with Arkel on home product

The product offers cover for standard and non-standard risks for all types of properties and is now available to Open GI's broker customers. from Insurer - insuranceage.co.uk https://ift.tt/3tZyMvr

Allianz swaps flagship Manchester office for sustainable building

The new office space will include features such as training zones, collaboration areas, as well as a broker zone for intermediaries to utilise when visiting. from Insurer - insuranceage.co.uk https://ift.tt/3ouCyfk

Das UK hopes for industry-wide support to go beyond £25,000 fundraising target

Insurance Cares: Insurance Age meets Das UK's David Swigciski ahead of the Ride Across Britain challenge, where a team of ten insurance professionals will raise money for Insurance United Against Dementia and the Alzheimer’s Society. from Insurer - insuranceage.co.uk https://ift.tt/3bAeB0E

Cyclone Sinks Barge Operated by India’s Oil & Natural Gas Corp., Hundreds Rescued

A cyclone barreling through India’s west coast sank a barge hired by state-run explorer Oil & Natural Gas Corp. prompting a massive operation to rescue 96 people missing from the vessel. “Long-range maritime surveillance aircraft were assisting the rescue effort … from News – Insurance Journal https://ift.tt/3yiOIMK

Warming Arctic Permafrost Will Make It Harder to Curb Climate Change: Study

The warming Arctic tundra will make it harder for the world to curb climate change, as thawing permafrost and wildfires release greenhouse gases that are not fully accounted for in global emissions agreements, a study said on Monday. As temperatures … from News – Insurance Journal https://ift.tt/3eV4FB2

Medical Protection Society Receives Approval to Form Full Lloyd’s Syndicate

Asta, the third-party managing agent at Lloyd’s, announced it has received “in principle” approval from the Lloyd’s Council for the transition of the Medical Protection Society’s (MPS) Special Purpose Arrangement (SPA) 1892 to a full syndicate, effective Jan. 1, 2022. … from News – Insurance Journal https://ift.tt/3hvNfN6

Howden’s Data, Digital and Analytics’ Division, HX, Launches in Asia

HX, the data, digital and analytics division of Howden Group Holdings, announced it has established HX Asia, which enables it to deploy its data, analytics and technology capabilities directly to clients and carriers in the Asian market. HX Asia will … from News – Insurance Journal https://ift.tt/2SPWDke

Lawsuit Filed by Business Over Mississippi City’s COVID Restrictions Dismissed

A federal judge has dismissed a civil lawsuit a fitness gym filed against a Mississippi city claiming the city violated business owners’ rights when it forced non-essential businesses to close to help mitigate the spread of COVID-19. Republican Gov. Tate … from News – Insurance Journal https://ift.tt/3eTTTLq

New CFC Reps & Warranty Product Supports Transatlantic Mergers, Acquisitions

CFC has enhanced its transaction liability services with the launch of a new product designed to support North American buyers purchasing a UK or European target business. CFC’s transatlantic suite of transaction liability insurance products can bridge the gap between … from News – Insurance Journal https://ift.tt/3bwXlcU

Rousseau to Replace Kessler as CEO of SCOR, in Change to Succession Plan

Denis Kessler, SCOR’s chairman and chief executive officer, has decided to step down, for personal reasons, from his role as CEO at the end of his current term of office, which will expire at the reinsurer’s general meeting on June … from News – Insurance Journal https://ift.tt/2T0Qge7

Nearly 800 Residents to Sue Wisconsin City Over PFAS Contamination

Nearly 800 residents of French Island plan to sue the city of La Crosse, Wisconsin, stemming from contamination of private drinking water wells from chemicals known as PFAS, a move that could expose the city to up to more than … from News – Insurance Journal https://ift.tt/3hAtnbM

New Civil Trial Ordered in 2015 N.D. Crash that Brought $1B Jury Award

The North Dakota Supreme Court has ordered a new civil trial for a driver who caused a Bismarck expressway crash that killed two women, injured a third and produced a jury award of more than $1 billion in damages. The … from News – Insurance Journal https://ift.tt/3we71AW

Uber Can’t Avoid Driver Classification Lawsuit, Says Supreme Court

The U.S. Supreme Court on Monday turned away Uber’s bid to avoid a lawsuit over whether drivers for the ride-hailing company’s limousine platform UberBLACK are employees and not independent contractors as the company claims. The justices left in place a … from News – Insurance Journal https://ift.tt/3wdCFhJ

Retired Black Players Fight NFL Brain Injury Payout Algorithm Based on Race

Thousands of retired Black professional football players, their families and supporters are demanding an end to the controversial use of “race-norming” to determine which players are eligible for payouts in the NFL’s $1 billion settlement of brain injury claims, a … from News – Insurance Journal https://ift.tt/3v0zUA8

People Moves: Midwestern Insurance Alliance Adds Young in California, Crest Adds Holt in Colorado

Midwestern Insurance Alliance has named Robert Young to its wholesale division as vice president of business development. Young will be based out of San Diego, Calif. Young’s focus will be to help the team grow revenue by enhancing retail agent … from News – Insurance Journal https://ift.tt/2Rjzl6c

Supreme Court Backs Energy Firms Against Baltimore on Legal Issue in Climate Case

The U.S. Supreme Court on Monday ruled in favor of BP PLC, Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and other energy companies contesting a lawsuit filed by the city of Baltimore seeking monetary damages from them due … from News – Insurance Journal https://ift.tt/3hDxWBZ

The Potential Liabilities for Cities, Insurers from Florida’s New ‘Anti-Riot’ Law

The right to protest in America is a fundamental right guaranteed by the First Amendment to the United States Constitution, which protects both the “freedom of speech” and the “right of the people peaceably to assemble, and to petition the … from News – Insurance Journal https://ift.tt/2S3euUm

People Moves: Security First Names Lockhart CFO; Freeland Joins Alliant in Tenn.; SIU Adds Hayes Everett in Georgia

Lockhart Named CFO of Florida-Based Security First Insurance Security First Insurance, a private homeowners insurer in Florida, has promoted David Lockhart to chief financial officer, effective June 1. Lockhart will report to the company’s President Melissa Burt DeVriese and succeeds … from News – Insurance Journal https://ift.tt/3hzeBlt

Iowa Town Evacuated After Fiery Train Derailment

Thick black smoke billowed into the air on May 16 after a train derailed in northwest Iowa, prompting authorities to evacuate part of a small, nearby town. The fiery derailment happened early in the afternoon on the southwest edge of … from News – Insurance Journal https://ift.tt/33YkG2F

Buffett’s Berkshire Hathaway Takes Big Stake in Aon

Berkshire Hathaway Inc. said on Monday it has taken a $943 million stake in insurance brokerage Aon Plc and sold large portions of its investments in Chevron Corp. and Wells Fargo & Co. The changes were disclosed in a regulatory … from News – Insurance Journal https://ift.tt/3w5l2AO

Meetings to Be Held on Status of PFAS Chemicals in New Hampshire Communities

Meetings will be held online for three southern New Hampshire communities to give the public updates on the status of chemicals found in the water, the Department of Environmental Services said. The meetings are scheduled for Litchfield on May 17, … from News – Insurance Journal https://ift.tt/3uZLxHG

Severe Cyclone Tauktae Slams India’s West Coast

A severe cyclonic storm is set to slam India’s west coast, home to major refineries and ports, prompting authorities already grappling with a savage second virus wave to evacuate people and patients to safer areas. Cyclone Tauktae, equivalent of a … from News – Insurance Journal https://ift.tt/3eQQ49B

New Vermont Law Waives Time Limit for Physical Abuse Suits

Vermont Governor Phil Scott has signed into law a measure that lifts the statute of limitations in civil cases of childhood physical abuse. Scott signed the bill on Wednesday. The new law builds on legislation passed two years ago that … from News – Insurance Journal https://ift.tt/3fluqtq

Digital Transformation Vital to Keeping London Market Competitive: Survey

Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying processes to enable processing without manual intervention as their highest strategic … from News – Insurance Journal https://ift.tt/3bx7GoV

Climate Litigation Cases Booming After Paris Agreement – Often Led by Young Activists

Whatsapp chat rooms and Telegram channels across Germany lit up in the early hours of April 29. Young people frantically exchanged messages in a tone that went from disbelief to surprise to euphoria. The country’s highest court had just ruled … from News – Insurance Journal https://ift.tt/3yfPBFK

Setting the Stage for Thousands of Opioid Lawuits, Potentially Years of Litigation

A corner of West Virginia wrenched by opioid addiction is getting the chance to argue in a courtroom that some of the corporate giants it blames for a public health crisis that left hundreds of people dead deserve to be … from News – Insurance Journal https://ift.tt/3ov57t2

Aon to Sell Pensions Business in Germany, in Another Step to Get EU Nod for WTW Deal

Aon plc announced it has signed a definitive agreement to sell its pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany to Lane Clark & Peacock LLP (LCP). The agreement is another step Aon and Willis … from News – Insurance Journal https://ift.tt/3olcpzt

Climate activists increase pressure on Lloyd's

Insurance Rebellion demands Lloyd's and other insurers to stop insuring coal mines and all fossil fuel projects, as day of action sees protesters gather outside of Lloyd's of London and in 12 other UK cities. from Insurer - insuranceage.co.uk https://ift.tt/3olVj4i

Video: Making sense of cyber

Aviva's Carolann Burrows outlines the risks arising in the cyber space and explains how insurers and brokers can help their clients. from Insurer - insuranceage.co.uk https://ift.tt/3tSN2WI

New Post-COVID Hybrid Work Arrangements May Not Be as Flexible as Desired

Fourteen months after coronavirus confined the world’s office-workers to their homes, companies are embarking on another great experiment — how to get their teams back together, in-person, at least some of the time. It’s a task that is briefly uniting … from News – Insurance Journal https://ift.tt/2QsLs0e

Blog: Business continuity in a changing world

In Business Continuity Week, Ecclesiastical's Sarah Pearson, considers developing business resilience. from Insurer - insuranceage.co.uk https://ift.tt/3omcaUJ

FCA reveals measures to increase consumer protection in retail markets

Regulator proposes to enhance existing rules around treating customers fairly with the aim to drive a shift in culture and behaviour for firms. from Insurer - insuranceage.co.uk https://ift.tt/33VSAVL

Mississippi Supreme Court Kills Voter-Backed Medical Marijuana Initiative

Mississippi will remain in the minority of states without a medical marijuana program after the state Supreme Court on Friday overturned an initiative that voters approved last fall – a decision that also limits other citizen-led efforts to put issues … from News – Insurance Journal https://ift.tt/3fD3Dcf

Teams Assess Damage After Fire on Overturned Cargo Ship in Georgia Port

A salvage team assessed damage Saturday after a fire was ignited inside the remains of an overturned cargo ship that is being dismantled along the Georgia coast. “The assessment is likely to take several days,” the multiagency command overseeing the … from News – Insurance Journal https://ift.tt/2QnlkUj

People Moves: Texas Mutual Promotes Potter to CFO, Martin to Sr. VP-HR

Texas Mutual Workers’ compensation insurer, Texas Mutual Insurance Co., has promoted Bill Potter to chief financial officer (CFO). Potter, a certified public accountant, succeeds Mike Barron, who served as Texas Mutual’s CFO for over 17 years and has retired. Potter … from News – Insurance Journal https://ift.tt/2QmgJSk

People Moves: National Interstate Promotes Mikolay, Keenan; Old Republic Surety Names Littlefield VP

National Interstate National Interstate Insurance Co. has promoted Christopher (Chris) E. Mikolay to senior vice president, Specialty Division and Daniel (Dan) M. Keenan to vice president, National Accounts. Mikolay will assume leadership responsibility for National Interstate’s Specialty Division and Hawaii … from News – Insurance Journal https://ift.tt/3flAQIQ

Appeals Court Rejects Bayer Appeal of $25M Roundup Cancer Verdict

A federal appeals court on Friday upheld a $25 million judgment and trial verdict finding Bayer’s Roundup caused a California resident’s non-Hodgkin lymphoma, dealing a blow to the chemical company’s hopes of limiting its legal risk over the weed-killer. The … from News – Insurance Journal https://ift.tt/2S0aynm

Pipeline Ransomware Attack Stirs Debate on Whether Insurance Attracts Hackers

The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate about whether cyber insurance helps protect against marauders — or attracts them. Some cyber-security experts say hackers target companies that … from News – Insurance Journal https://ift.tt/3bwiQKy

Under Pressure, Ransomware Gangs Claim They’re Shutting Dow

Multiple ransomware groups claimed they were shutting down or scaling back operations on Friday as the U.S. government ramped up pressure while tech companies, cryptocurrency exchanges and others worried about getting caught in the crossfire. DarkSide, the Russian-speaking gang blamed … from News – Insurance Journal https://ift.tt/2S3vM44

Private Firefighting Firms Add to Tension While Saving Vineyards, Mansions From Wildfires

Last October, firefighter Ryan Bellanca and his crew battled to keep the raging Glass Fire in California from devastating an upmarket Napa Valley vineyard. But Bellanca wasn’t working for any fire department. He owns a private company that had been … from News – Insurance Journal https://ift.tt/33QkVNe

BriteCo Launches Online Jewelry Insurance Program

BriteCo jewelry insurance has launched a program to insure fine jewelry and watches that can be quoted and bound online offering enhanced coverage and a monthly pay option. The new insurance offering is backed by Glencar Insurance Co. Consumers can … from News – Insurance Journal https://ift.tt/3yeZiUU

Judge Rules Florida Deputies Fired Over Parkland Massacre Should Get Jobs Back

A Florida judge ruled Thursday that two deputies who were fired for inaction during a high school mass shooting in 2018 should be reinstated with back pay. Broward Circuit Judge Keathan Frink concluded that arbitrators last year were correct in … from News – Insurance Journal https://ift.tt/3uVGasZ

AM Best Says Pipeline Attack Shines Spotlight on Cyber Insurance

The ransomware attack on one of the largest pipelines in the United States highlights the interconnectedness of cyber risk and the importance of cyber security to all business operations, according to a new AM Best commentary. In its Best’s Commentary, … from News – Insurance Journal https://ift.tt/3onQur6

California Crash, Arrest Draw More Scrutiny of Tesla Autopilot

Safety regulators are sending a team to California to investigate a fatal freeway crash involving a Tesla, just after authorities near Oakland arrested a man in another Tesla rolling down a freeway with no one behind the steering wheel. Experts … from News – Insurance Journal https://ift.tt/3w6Z8Nv

High Street Insurance Partners Acquires Paladin, Richardi-Demola Insurance Agencies

High Street Insurance Partners (HSIP), a full-service insurance brokerage platform, has acquired New Jersey-based Paladin Insurance Agency and Richardi-Demola Insurance Agency (RD). Terms of the transaction were not disclosed. Both firms specialize in business and personal Insurance solutions. President Tom … from News – Insurance Journal https://ift.tt/3oijIYo

Massachusetts Health Boards Overwhelmed, Unready to Protect Workers

With federal regulators missing from the field and state leaders scrambling to manage the COVID-19 crisis, Massachusetts’ 351 overtaxed local boards of health were unwittingly thrust into a new role last year – overseers of workplace safety. The challenge created … from News – Insurance Journal https://ift.tt/2RhzCGB

People Moves: National Flood Names Erickson CEO; Aon Adds 3 in Healthcare; State Auto CFO to Retire; Barg Joins Ascot Claims

National Flood Services announced the appointment of Lindsey Erickson as its chief executive officer. Erickson replaces interim CEO George Ruhana, who will continue in his role as operating partner. Erickson has been with National Flood Services for more than 20 … from News – Insurance Journal https://ift.tt/3tKvHPS

Danish Lawmakers Eye New Probe of 1990 Ferry Disaster, with Insurance Focus

COPENHAGEN, Denmark – Danish lawmakers agreed Wednesday to set up a task force to look into a 1990 ferry fire that killed 159 people, which could lead to a new police investigation into one of Scandinavia’s worst peacetime maritime disasters. … from News – Insurance Journal https://ift.tt/3ohm3D8

New York to Set Workplace Safety Standards for Airborne Diseases

State regulators in New York will soon draft rules that will require employers to protect workers from airborne infectious disease. A new state law tasks state labor and health officials with coming up with minimum workplace standards around things like … from News – Insurance Journal https://ift.tt/2QiyLVz

Cyber Ransom Payments Set a Bad Precedent But Happen Often

The U.S. government’s fight to choke off ransom payments collected by hackers hit a major snag Thursday, following news that Colonial Pipeline Co. paid a hefty sum to hackers who for several days this week effectively shut down the country’s … from News – Insurance Journal https://ift.tt/2RUl4Nb

Ireland’s Health Service Operator Hit by ‘Significant’ Ransomware Attack

DUBLIN – Ireland’s health service operator shut down all its IT systems on Friday to protect them from a “significant” ransomware attack, crippling diagnostic services, disrupting COVID-19 testing and forcing hospitals to cancel many appointments. Ireland’s COVID-19 vaccination program was … from News – Insurance Journal https://ift.tt/3uN8VYF

Zywave Buys Workers’ Comp Software Firm Modgic

Insurance technology provider Zywave has acquired Modgic, an Oregon-based provider of workers’ compensation and experience modification analysis software for the commercial insurance industry. Financial terms were not disclosed. Zywave, based in Wisconsin, said the combination will help strengthen its market … from News – Insurance Journal https://ift.tt/3og157y

Biden EPA Relaunches Website With Climate Change Indicators

After years of delays during the Trump administration, the EPA released its new climate indicators, which show Americans are already feeling effects on their health and safety. Heat waves across the country are more frequent, more intense, and last longer. … from News – Insurance Journal https://ift.tt/3v013n7

Britain’s Financial Services Sector ‘Not Optimistic’ About Getting Access to EU Markets

Britain’s financial services sector won’t get access to the European Union’s markets for the foreseeable future following Brexit, industry officials said on Thursday as a row with France simmers. Britain fully left the EU on Dec. 31, 2020 and the … from News – Insurance Journal https://ift.tt/3eHM7UJ

DarkSide Hacking Group Blamed for Ransomware Attack on Toshiba Unit

PARIS – Toshiba Tec France Imaging System said on Friday that DarkSide, the hacking group blamed for crippling a major U.S. pipeline company, had targeted it in a ransomware attack during the night of May 4. The unit of Japanese … from News – Insurance Journal https://ift.tt/3w7W8ka

People Moves: 10 - 14 May 2021

There was still time for some recruitment news in the week the Biba conference took place. from Insurer - insuranceage.co.uk https://ift.tt/3eLV2EB

UK Supports Global Deal to Stop Cross-Border Financing of Coal Projects

Britain wants to broker a global agreement to stop the cross-border financing of coal projects when it hosts a major climate conference in November, a senior government minister said on Friday. Alok Sharma, the minister in charge of preparations for … from News – Insurance Journal https://ift.tt/3uZsYmM

Acturis adds CFC to panel with cyber product launch

CFC's Cyber Now product has been made available to brokers on the Acturis platform. from Insurer - insuranceage.co.uk https://ift.tt/3bn6ILR

Japan Post’s Insurance Unit to Buy Back About $4 Billion of Shares

Japan Post Holdings Co.’s insurance unit plans to buy back up to 29% of its shares for about 439.8 billion yen ($4 billion) as its parent company reduces its stake, giving the insurer more freedom to expand its business. Japan … from News – Insurance Journal https://ift.tt/3tLsq2O

Biba 2021: Attracting talent key to a diverse workforce

Panelists point to encouraging progress for diversity and inclusion in insurance. from Insurer - insuranceage.co.uk https://ift.tt/3w4U8ZH

Cryptocurrency Crime Declines But ‘DeFi’ Fraud Soars: CipherTrace

Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming “decentralized finance” space hit an all-time high, a report from crypto intelligence company CipherTrace showed on Thursday. DeFi … from News – Insurance Journal https://ift.tt/2QhvVjD

SEC Plans New Workforce Data Disclosure Rule

The U.S. Securities and Exchange Commission (SEC) plans to propose a rule requiring that public companies disclose a range of workforce data as the agency steps up environmental, social and governance (ESG) disclosures, its new chair, Gary Gensler, said on … from News – Insurance Journal https://ift.tt/2Qfg8Sm

Neptune to Offer Flood Insurance to Small Business Administration Borrowers

Neptune Flood, an AI-driven flood insurance company, has launched sbaflood.com designed for SBA borrowers to obtain commercial flood insurance. Both owners and tenants are eligible for commercial flood insurance through the new platform. Government backed business loans, such as those … from News – Insurance Journal https://ift.tt/3ogyDTh

Tornado in New Orleans Rips Off Roofs, Knocks Out Power

A tornado ripped off roofs, knocked down utility poles and cut off power to thousands in New Orleans early on May 12, but no serious injuries were reported in what one city official called an unexpected “dry run” for the … from News – Insurance Journal https://ift.tt/3ofHZP0

Worker Overcome by Fumes in Iowa Plant Rescued

A hazardous materials team rescued a worker who was overcome by fumes on May 12 inside a suburban Des Moines, Iowa, food packaging manufacturing plant. The incident occurred just after 8 a.m. at Amcor in Saylor Township, television station KCCI … from News – Insurance Journal https://ift.tt/3uObPfT

Fire Causes Major Damage at North Dakota Strip Mall

A fire on May 11 caused extensive damage at a strip mall in Fargo. The three-alarm fire broke out in Bodyworks Physical Therapy in the afternoon and spread to Gigi’s Playhouse which serves individuals with Down syndrome, according to authorities. … from News – Insurance Journal https://ift.tt/3fliUOJ

Airbus, Air France Could Face Charges of Manslaughter over Deadly Crash in 2009

Airbus SE and Air France-KLM could face charges of involuntary manslaughter over the deadly crash of a Paris-bound plane off the Brazilian coast over a decade ago. The Paris appeals court ruled Wednesday that the case should be taken to … from News – Insurance Journal https://ift.tt/3felKoD

Mitchell | Genex | Coventry Enters Agreement to Acquire QualCare Alliance Networks

Mitchell | Genex | Coventry, a provider of cost containment technology, provider networks, clinical services, pharmacy benefit management (PBM) and disability management, has entered into a definitive agreement to acquire QualCare Alliance Networks Inc. (QANI), a managed care organization serving … from News – Insurance Journal https://ift.tt/2R8sdti

Biba 2021: Call for 'unified action' on PI problems

As the cost of PI soars, and insurers exit the market, Biba panellists call for brokers and insurers to collaborate to ensure customers get value. from Insurer - insuranceage.co.uk https://ift.tt/33F6WKd

Millennials failing to buy contents cover

The generational divide is a key finding of a survey which insurtech Getsafe conducted among 2,069 British citizens. from Insurer - insuranceage.co.uk https://ift.tt/3fjnn4n

Commercial Auto Insurance Business on Road to Break-Even in 2021: Fitch

The commercial auto insurance segment posted its best underwriting result in a decade in 2020, thanks to continued big rate increases and a big drop in driving due to the coronavirus pandemic. According to a Fitch Ratings report, the commercial … from News – Insurance Journal https://ift.tt/33Mcqmh

ArgoGlobal Provides Capacity of $25M for Green Finance MGA Tierra Underwriting Ltd.

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, has formed a partnership with green finance managing general agency, Tierra Underwriting Ltd. ArgoGlobal is providing $25 million in underwriting capacity to support the MGA, supporting Tierra Underwriting in transactions that … from News – Insurance Journal https://ift.tt/33F0Byr

Biden Signs Executive Order on Cyber Information Sharing, Safety Practices

President Joe Biden on Wednesday signed an executive order intended to strengthen U.S. cybersecurity by improving information sharing about attacks with the private sector and adopting better safety practices throughout the government. It also seeks to improve the government’s response … from News – Insurance Journal https://ift.tt/2RQpjJk

Miller Launches Professional Indemnity Product for Freelance Solicitors

Insurance broker Miller has launched a professional indemnity (PI) product designed specifically for solicitors operating on a self-employed basis. The product was developed following reforms introduced in November 2019 by the Solicitor’s Regulation Authority (which regulates solicitors in England and … from News – Insurance Journal https://ift.tt/3obEV6m

Colonial Pipeline’s Cyber Insurers Include AXA XL, Beazley: Reuters

Colonial Pipeline has cyber insurance arranged by broker Aon, with Lloyd’s of London insurers AXA XL and Beazley among the underwriters, three sources told Reuters on Thursday. Colonial Pipeline has begun to restart the nation’s largest fuel pipeline network after … from News – Insurance Journal https://ift.tt/3eGFqlO

Specialist Risk Group buys Irish MGA, Blackrock Insurance Solutions

Specialist Risk Group (SRG), has announced the acquisition of specialist Irish liability and property MGA, Blackrock Insurance Solutions. from Insurer - insuranceage.co.uk https://ift.tt/3fhgrEU

Biba 2021: MP John Glen’s keynote speech

The economic secretary to the Treasury tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference yesterday. from Insurer - insuranceage.co.uk https://ift.tt/3tH0xc8

Specialist Risk Group Buys Dublin-Based MGA, Blackrock Insurance Solutions

Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of specialist Irish liability and property managing general agent (MGA), Blackrock Insurance Solutions. Financial details of the acquisition were not disclosed. SRG said this acquisition further demonstrates its commitment … from News – Insurance Journal https://ift.tt/3o9TmIg

Covid BI claims payments hit £701m

FCA figures show interim payments of £268.2m and final settlements of £433.1m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,912. from Insurer - insuranceage.co.uk https://ift.tt/2SQVB7T

Renovation Underwriting hires James Guthrie to lead on broker distribution

Guthrie most recently worked as head of HNW distribution at Covéa. from Insurer - insuranceage.co.uk https://ift.tt/2SLGSei

Biba to open conference for extra day

The move follows difficulties accessing the virtual conference platform yesterday. from Insurer - insuranceage.co.uk https://ift.tt/3fh55kg

Medical Professional Liability Market Facing Difficult Times

Despite a slight improvement in net income in 2020, U.S. medical professional liability (MPL) insurers saw their sixth consecutive year of underwriting losses, according to a new AM Best report. According to the new Best’s Special Report, “Continued Uncertainty Clouds … from News – Insurance Journal https://ift.tt/3y91n4z

Nevada Police Officer Suspended for Tweets Seeks $1M

A Sparks, Nev. police officer who is accusing the city of violating his free speech rights is seeking $1 million in damages after he was suspended for four days for making comments on his private social media account that the … from News – Insurance Journal https://ift.tt/3uOrXOw

What Cyber Insurers Should Know About the Federal Ransomware Advisories

As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the spotlight. Ransomware is a type of malicious software that … from News – Insurance Journal https://ift.tt/3vTYXoK

Washington Commissioner’s Captive Insurer Bill Signed into Law

A bill to provide a framework to captive insurers doing business in Washington became law after Gov. Jay Inslee signed the legislation on Wednesday. Second Substitute SB 5315, which was requested by Insurance Commissioner Mike Kreidler and sponsored by Sen. … from News – Insurance Journal https://ift.tt/3hneZna

MGA Pouch Debuts With ILS Capital Backing, Telematics for Small Commercial Fleets

Pouch, an insurtech MGA using telematics to reward small businesses for safe driving, disclosed it has raised some initial financing that will help accelerate its launch into the commercial auto insurance market. ILS Capital is behind the seed round. The … from News – Insurance Journal https://ift.tt/3tKPrCR

Millers Mutual Insurance Expands Into North Carolina

Millers Mutual Insurance, a regional property and casualty insurance carrier focused on multifamily housing, is expanding into North Carolina. As of July 1, 2021, Millers Mutual will offer property & casualty insurance in the state, bringing the total number of … from News – Insurance Journal https://ift.tt/3hme2v7

Lightning Sends Chunk of Highway Through Truck in Florida

A lightning strike in Florida launched a chunk of highway pavement through a truck windshield and injured two people inside the vehicle on Monday morning, according to fire officials. The Walton County Fire Rescue responded to the accident on Interstate … from News – Insurance Journal https://ift.tt/33FijBW

NJM Insurance Adds BOP, Commercial Excess, Umbrella Coverage in New Jersey

NJM Insurance Group is now writing businessowners policies and corresponding excess and umbrella policies in New Jersey. The ProEdge Businessowners Policy provides protection for property and liability risks associated with small businesses. NJM’s commercial excess and umbrella policy can expand … from News – Insurance Journal https://ift.tt/3w0MhMF

Biba 2021: The Future of Broking

Phil Barton attacks scale-led consolidation and warns broking is “in a dangerous place” as an expert panel including Aon’s Julie Page, A-Plan’s Carl Shuker and Atlanta’s Ian Donaldson consider the future in a session chaired by Brokerbility’s, Ashwin Mistry. from Insurer - insuranceage.co.uk https://ift.tt/3vZiunz

Workers’ Compensation Numbers Indicate Strong Performance During 2020 Pandemic

Because of job losses and shrinking payrolls during the pandemic recession, the workers’ compensation industry’s net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the industry’s fourth … from News – Insurance Journal https://ift.tt/2SGzK2F

California Balcony Collapse Injuring 9 Prompts Rental Code Probe

The city of Malibu in Southern California it is investigating whether any rental codes were violated at a home where nine people were injured when a balcony collapsed during a crowded weekend party. The beachside property had a valid short-term … from News – Insurance Journal https://ift.tt/3hywwZJ

California Drought Emergency Expanded to Large Swath Of State

California Gov. Gavin Newsom this week expanded a drought emergency to a large swath of the nation’s most populous state while seeking more than $6 billion in multiyear water spending as one of the warmest, driest springs on record threatens … from News – Insurance Journal https://ift.tt/33FXYwl

eMaxx Platform Eases Insurer Entry Into Captive Market

Commercial managing general agent eMaxx has expanded its turnkey platform for insurance companies to make it easier for them to enter the fast-growing captive market. The alternative risk specialist’s platform includes technology, product development, marketing, sales support and administration. It … from News – Insurance Journal https://ift.tt/3tBsl1z

They’re Back! Actuarial Society, Under Pressure, Reinstates Ratemaking Rules

Less than a month ago, the prospect that long-held principles of actuarial ratemaking would survive an action by the Casualty Actuarial Society board of directors to rescind them seemed like a long shot. But facing continuing pressure from actuaries representing … from News – Insurance Journal https://ift.tt/33A7wc8

Kaplansky Insurance Acquires Massachusetts’ John P. Riley Insurance

Kaplansky Insurance has acquired its third independent agency of 2021, John P. Riley Insurance. The purchase of the Dorchester, Massachusetts-based business marks Kaplansky’s 37th acquisition overall. John P. Riley opened his insurance agency in 1938 while also working in the … from News – Insurance Journal https://ift.tt/33zuWOZ

Blind Teen Alleges Rhode Island Eatery Violated Her Rights

A blind Rhode Island teen and her family have filed a lawsuit with the Providence County Superior Court against a restaurant they say refused to seat them due to the presence of the teen’s service dog. Haylee Mota and her … from News – Insurance Journal https://ift.tt/3y0VPtb

Maine Paper Mill That Was Site of Explosion Sues Inspection Firm

The owner of a paper mill in Maine that was the site of an explosion last year has filed a lawsuit against a company that was responsible for inspection and maintenance. One of the facility’s pulp digesters ruptured and fell … from News – Insurance Journal https://ift.tt/3feUXZi

Aon, Willis Towers Watson to Sell Group of WTW Assets to Gallagher for $3.57 Billion

Aon plc and Willis Towers Watson have agreed to sell Willis Re and a set of Willis Towers Watson corporate risk and broking and health and benefits services to Arthur J. Gallagher & Co. These businesses will be divested for … from News – Insurance Journal https://ift.tt/3oibGiw

The Really, Really Big One: The Likelihood of a 1-in-100 Year Cyber Catastrophe

More than a year into what some have called a 1-in-100 year pandemic with COVID-19, many may be wondering what other unprecedented events could be on the horizon. For the cyber community, this raises questions about the likelihood of a … from News – Insurance Journal https://ift.tt/3eFsrRB

$2,300 Phone Call. $1,000 Cab Ride. Purdue Runs Up $400M Bankruptcy Tab.

One phone call with the Department of Justice: $2,300. Two days at the Ritz-Carlton: $830. Oh, and a lengthy cab ride to and from the court in White Plains, New York — that’ll be $1,000. Those are just some of … from News – Insurance Journal https://ift.tt/3ocihuU

Biba conference site crashes

Delegates are unable to log in to the platform as the trade body blames wider Amazon server issues for the problem. from Insurer - insuranceage.co.uk https://ift.tt/3eD522T

Amazon-Backed India Insurer Startup Eyes Funding Round that Could Create $1B Value

Acko General Insurance Ltd. is weighing a new funding round that could value the Indian online insurer at more than $1 billion, according to people familiar with matter. The Amazon.com Inc.-backed startup is looking to raise about $200 million in … from News – Insurance Journal https://ift.tt/3bhe0ko

Zurich Insurance Expects Limited Exposure to Greensill Collapse

Zurich Insurance does not expect to have a major exposure to the failure of supply chain financing firm Greensill Capital, the insurer’s chief financial officer said on Wednesday after it reported solid first-quarter earnings. Greensill Capital lent money to firms … from News – Insurance Journal https://ift.tt/2SFDVM9

3 Florida Insurers to Drop Thousands of Policies, Make Moves to Stay Afloat

More than 50,000 Florida policyholders will soon be looking for a new carrier for their homeowners insurance after three Florida-based companies were approved by the state regulator to drop the policies. The moves come just a few weeks before the … from News – Insurance Journal https://ift.tt/3y4JvrJ

Interview: Allianz's Simon McGinn hints at market exits

McGinn discusses exiting certain lines amid a hard market, changing broker wordings after the Supreme Court judgment in the FCA test case and what is next for Allianz in the UK. from Insurer - insuranceage.co.uk https://ift.tt/33F2zil

Aviva confirms potential redundancies amid IT overhaul

Up to 115 staff across a number of sites will be affected as the insurer looks to automate and outsource. from Insurer - insuranceage.co.uk https://ift.tt/3uGr76d

Axa Commercial launches Broker Learning Zone

The initiative has been developed to drive professional development for UK brokers and sits alongside the newly-developed Axa XL Broker Academy. from Insurer - insuranceage.co.uk https://ift.tt/2RgacZP

South Carolina Plant Draws 17K Complaints Over ‘Noxious’ Odor

A South Carolina cardboard factory has found itself in the middle of a stinky situation as environmental regulators order it to lower emissions after receiving thousands of complaints relating to a “noxious,” rotten egg-like smell coming from the plant. The … from News – Insurance Journal https://ift.tt/3eCCFlp

Self-Driving Car Firms Seek to Charge for Rides in San Francisco: Reuters

Alphabet Inc.’s Waymo and rival Cruise have applied for permits needed to start charging for rides and delivery using autonomous vehicles in San Francisco, state documents reviewed by Reuters showed, setting the stage for the biggest tests yet of their … from News – Insurance Journal https://ift.tt/3y2Og59

Spain Gives Delivery Firms 90 Days to Convert Gig Riders to Employees

MADRID – Food delivery companies based in Spain have three months to convert their couriers into staff workers under new rules approved on Tuesday by the government, one of the first laws in Europe regarding gig-economy workers’ rights. The decree, … from News – Insurance Journal https://ift.tt/3uHjJrl

Insurer American National Group Exploring Options Including Possible Sale -Reuters

U.S. insurer American National Group Inc. is exploring options that could include a sale of the company, people familiar with the matter told Reuters on Tuesday. The news sent shares of American National spiking to their highest level in more … from News – Insurance Journal https://ift.tt/3vSSUAG

Minnesota Lumber Firm to Pay $100K in Disability Discrimination Suit Settlement

A Minnesota lumber company has agreed to pay $100,000 to resolve a disability discrimination lawsuit, federal authorities say. The lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) against Lake States Lumber Inc., a manufacturer and wholesale distributor of … from News – Insurance Journal https://ift.tt/3y62Oke

Kentucky Gov to Relax Virus-Related Capacity Limits on Businesses, Events

Kentucky Gov. Andy Beshear on Thursday laid out the next phase for relaxing pandemic-related restrictions and said he hopes to lift any remaining capacity limits on gatherings this summer. “We’re very close to the end of this,” the Democratic governor … from News – Insurance Journal https://ift.tt/3uI7SJy

Two Bills Relating to Auto Insurance Claims Practices Advance in Texas

The Texas House of Representatives recently advance two pieces of legislation that address claims arising out of vehicle accidents. House Bill 359 The Texas House May 7 passed House Bill 359, which addresses delaying tactics practiced by insurers in claims … from News – Insurance Journal https://ift.tt/2RLfM6k

Multiple People Hurt in Boat Explosion on Georgia’s Lake Lanier

Multiple people were hurt, some seriously, when a boat exploded Sunday on Lake Lanier, authorities said. Game wardens responded around 2:45 p.m. to the Margaritaville gas dock after getting reports that a boat exploded while fueling up, Georgia Department of … from News – Insurance Journal https://ift.tt/2ReP8CW

Texas Crash Deaths Among Unbuckled Motorists Rose in 2020

Texas saw a spike in the number of traffic crash fatalities of people not wearing a seat belt last year, state transportation authorities say. The Texas Department of Transportation (TxDOT) said in 2020 there was a 16% increase in deaths … from News – Insurance Journal https://ift.tt/2RL9Nyo

People Moves: MEMIC Names Three to Leadership Roles; USG Hires Starr

MEMIC Names Three Underwriting Territory Managers In its plan to continue profitable growth of its workers’ compensation business along the Eastern seaboard, The MEMIC Group has named three underwriting territory managers to assume leadership roles. Margaret Templeton of Albany, New … from News – Insurance Journal https://ift.tt/3o54tSP

California Wildfire Victims See Little Payout from PG&E Settlement

A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, … from News – Insurance Journal https://ift.tt/3w2MSO9

Connecticut Utilities Face Steep Fines for Storm Failures