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A North Texas doctor will pay $376,368 in restitution after pleading guilty to mail fraud conspiracy in federal court, the Texas Department of Insurance, Division of Workers’ Compensation reported. Clinton Battle M.D. of Arlington pleaded guilty on July 22, 2021, … from News – Insurance Journal https://ift.tt/3lbAV6z

Family of Boy Thrown From Balcony Sues Minnesota’s Mall of America

The family of a boy who was thrown off a third-floor balcony at the Mall of America in April 2019 has filed a lawsuit accusing the mall of failing to provide proper security. The complaint filed says the mall and … from News – Insurance Journal https://ift.tt/2THFaLE

New Mexico Public Defender’s Office Settles Harassment Claims for $345K

Two lawsuits accusing an investigator in the state public defender’s office of sexual harassment have been settled. The Law Offices of the Public Defender agreed to pay $345,000 to resolve the lawsuits filed in 2019, the Albuquerque Journal reported. Neither … from News – Insurance Journal https://ift.tt/3lbARUn

Arthur J. Gallagher & Co. Acquires R.J. Riordan & Co. in Illinois

Arthur J. Gallagher & Co. acquired Oakbrook, Illinois-based R.J. Riordan & Co. R.J. Riordan & Co. is a retail property/casualty broker offering a full range of insurance products and services to clients across the Chicago region. It specializes in serving … from News – Insurance Journal https://ift.tt/3BWU7uK

Alaska Quake Triggers Prolonged Shaking, Small Tsunami

A powerful earthquake which struck just off Alaska’s southern coast caused prolonged shaking and prompted tsunami warnings that sent people scrambling for shelters. Residents reported only minor damage, but officials said that could change after sunrise and people get a … from News – Insurance Journal https://ift.tt/3BUWU7E

Severe Weather Causes Widespread Damage in Wisconsin

Strong thunderstorms caused widespread damage across Wisconsin, left tens of thousands without power and triggered tornado warnings. The severe weather stretched from the Mississippi River to Lake Michigan and began in the evening on July 28 in northwestern Wisconsin. By … from News – Insurance Journal https://ift.tt/3fbYfx4

Monsanto Told to Pay Washington Teachers $185M Over PCB Exposure

Three schoolteachers in Washington state who sued chemical company Monsanto over exposure to materials in fluorescent lights have been awarded $185 million. The law firm that represented the teachers, Friedman Rubin, said a jury returned the verdict in King County … from News – Insurance Journal https://ift.tt/3j3k3fE

Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges

The first half financial results, reported by a group of six reinsurers over the past week, generally show a strong return to profits after last year’s challenging market conditions. A wrap-up of these H1 results follows for Swiss Re, Everest … from News – Insurance Journal https://ift.tt/3i99OqJ

Delaware Farm Receives Violation for Damaged Pipeline, Wastewater Spill

Delaware environmental officials have issued a notice of violation to Mountaire Farms in Millsboro after a contractor damaged a pipeline and treated wastewater spilled into Swan Creek. The notice from the Department of Natural Resources and Environmental Control states a … from News – Insurance Journal https://ift.tt/3lh2BXA

DFS Issues New Report on Insurers’ Management of Climate Change Risks

The New York State Department of Financial Services (DFS) has issued a report analyzing New York domestic insurers’ management of the financial risks from climate change based on their 2020 responses to the National Association of Insurance Commissioners (NAIC) Climate … from News – Insurance Journal https://ift.tt/3xew8DB

Gun Maker Offers $33M to Settle Suit by Sandy Hook Families

The maker of the rifle used in the Sandy Hook Elementary School shooting has offered some of the victims’ families nearly $33 million to settle their lawsuit over how the company marketed the firearm to the public. Lawyers for now-bankrupt … from News – Insurance Journal https://ift.tt/376z3Ut

Bayer Books Additional $4.5 Billion for Roundup Litigation

Bayer said on Thursday it would book an additional provision of $4.5 billion related to litigation which alleges that its weedkiller Roundup can cause cancer. Bayer made the announcement in an update to investors on how it plans to deal … from News – Insurance Journal https://ift.tt/3rGPD6C

‘Real Time’ Cyber Risk Specialist At-Bay Pulls In $185M as Antidote to Insurance Spiral

At-Bay pulled in a whopping $185 million in new financing that the cyber insurance startup plans to use for new product development, expansion into new markets and hiring more employees. Including the new round, the managing general underwriter said it … from News – Insurance Journal https://ift.tt/3BZylXi

Cyber Criminals Target Remote Workers and ‘Critical Infrastructure to Corner Stores’

The share of policyholders who filed a cyberattack claim jumped by 50% from the first half of 2000 compared to the first half of 2001, according to a new report by cyber insurer Coalition. An increasing number of attacks were … from News – Insurance Journal https://ift.tt/3zRig3T

85% of Flight Attendants Report Incidents With Unruly Passengers

Incidents with unruly passengers have become an everyday occurrence for flight attendants. A national survey of nearly 5,000 flight attendants found that more than 85 percent of all respondents had dealt with unruly passengers as air travel picked up in … from News – Insurance Journal https://ift.tt/2TKppUr

CDC Describes Delta Variant as Highly Contagious – Report

The U.S. Centers for Disease Control and Prevention (CDC) has described the Delta variant of the coronavirus as being as transmissible as chickenpox and cautioned it could cause severe disease, the Washington Post said, citing an internal CDC document. The … from News – Insurance Journal https://ift.tt/3iXeqiY

How can the industry solve its talent crisis?

Brokers, insurers and industry experts discuss the main obstacles in attracting young talent and what the industry can do to solve its image problem. from Insurer - insuranceage.co.uk https://ift.tt/3BWo3aa

Howden pledges to achieve plastic neutrality

The broker announced its commitment to reduce its plastic consumption, and offset the rest, aiming to curb the impact its business has on the environment. from Insurer - insuranceage.co.uk https://ift.tt/3icXlT9

UK’s Managing General Agents’ Association (MGAA) Expands to Republic of Ireland

The UK’s Managing General Agents’ Association (MGAA) has expanded its membership into the Republic of Ireland (ROI) following an initiative driven by Chief Executive Mike Keating. The move to enable MGAs, insurers and suppliers to join the association is designed … from News – Insurance Journal https://ift.tt/3j0YjRC

Lloyd’s sets out climate action roadmap

Lloyd's reveals steps towards achieving net-zero across the industry after having been accused of 'shameless greenwashing' in a recent paint attack. from Insurer - insuranceage.co.uk https://ift.tt/3lqsX9V

Occam Underwriting Promotes Fisher to CEO; Succeeding Gibbins Who Becomes Chair

Occam Underwriting, the specialist lines-focused managing general agent, has announced the promotion of Chief Financial Officer Mark Fisher to chief executive officer, subject to regulatory approval. The previous CEO, Lance Gibbins, will continue to serve the company as chair. Fisher … from News – Insurance Journal https://ift.tt/3ibj4dS

‘Talent War’ Forces Companies Across Globe to Pay Higher Salaries to Woo Workers

The COVID-19 pandemic has worsened a shortage of white-collar workers in many countries, forcing companies to pay higher salaries to woo talent, a top London-based recruiter said on Tuesday [July 27]. Robert Walters – which specializes in the likes of … from News – Insurance Journal https://ift.tt/3fd6Gs2

Feds Sue North Carolina County Over Firing of 911 Operator Who Reported Sexual Harassment

A North Carolina county’s emergency communications unit engaged in unlawful retaliation when it terminated a worker after she told supervisors that she had been sexually harassed while on the job, according to a lawsuit filed by the U.S. Department of … from News – Insurance Journal https://ift.tt/3BVW2Q2

FEMA OKs Funds to Help Fight Montana Wildfire

Federal funds are now available to help with firefighting costs for the Poverty Flats Fire burning in Big Horn County and Crow Agency in Montana, FEMA reported. FEMA Acting Regional Administrator Tammy Littrell approved the state’s request for a federal … from News – Insurance Journal https://ift.tt/3ldAOau

A Week Later, Oil Well Fire Still Burns in North Dakota

The operator of an oil well pad where a fire has been burning since last week in McKenzie County has brought in a specialized emergency response crew to get a handle on the blaze. The well pad is located on … from News – Insurance Journal https://ift.tt/3iYenDG

3 Midwest Manufacturers Pay More Than $400K to Settle Hazardous Waste Violation Cases

Three manufacturing companies in Midwest states reached settlements with the U.S. Environmental Protection Agency (EPA) to resolve alleged violations of the federal Resource Conservation and Recovery Act (RCRA). Collectively, the three companies paid more than $400,000 to settle the cases. … from News – Insurance Journal https://ift.tt/3rKGrhQ

Baton Rouge Apartment Building Torched

An arsonist set fire to an apartment building in Baton Rouge, Louisiana, leaving 10 people temporarily without their home, fire officials said. The fire at night on July 27 caused thousands of dollars in damage, WBRZ-TV reported. Firefighters found the … from News – Insurance Journal https://ift.tt/2WqmYXU

2 Dead; 7 Injured After Leak at Texas Chemical Plant

Two people are dead and dozens more were injured after a chemical leak at a Houston-area plant, officials said. The incident happened about 7:35 p.m. on July 27 and involved an acetic acid leak at the LyondellBasell facility in the … from News – Insurance Journal https://ift.tt/3ybV6oE

Oklahoma Health Officials Seek Emergency Order as COVID Cases Rise

Health officials in Oklahoma on July 27 urged Gov. Kevin Stitt to issue an emergency declaration that would allow for expanded care for those with COVID-19 — something the Republican has said he will not do. Such a declaration would … from News – Insurance Journal https://ift.tt/3l4QVXY

The Hartford Reports Q2 Net Income Up 94%; Boasts ‘Superb’ P/C Results

The Hartford today announced it earned $900 million in net income in the second quarter of this year, a 94% jump from second quarter 2020. Core earnings of $836 million were up 91% from second quarter 2020. “Our performance was … from News – Insurance Journal https://ift.tt/3xdEI5J

Chubb CEO Greenberg Stresses Need to Address Ransomware and ‘Systemic’ Cyber Risk

Chubb Chairman and CEO Evan Greenberg is doubling down against outlawing ransomware payments to address the the growing threat of ransomware. He appears to make an exception, however, for cryptocurrency payments. “While I don’t think the government should outlaw ransomware … from News – Insurance Journal https://ift.tt/2VkTXMY

The Hanover Enhances Product Suites for Lawyers, Healthcare Facilities

The Hanover Insurance Group Inc. said it has enhanced its product suites for lawyers and healthcare facilities. The Hanover Lawyers Advantage product suite offers stand-alone professional liability coverage for a wide range of law firms. In addition to a new … from News – Insurance Journal https://ift.tt/3iZnBzm

Study Finds Boston’s Subway System Faces Severe Flood Threat

The Boston area’s subway system faces a severe threat from rising seas over the next 50 years that could cause flooding and cut critical links around the city, according to a new study. The report, written by researchers at the … from News – Insurance Journal https://ift.tt/2UYJKFW

Ex-eBay Employee Gets 18 Months for Cyberstalking Campaign

A former security operations manager for eBay Inc. was sentenced to 18 months in prison Tuesday for his role in an extensive campaign to terrorize and intimidate the editor and publisher of an online newsletter. Philip Cooke pleaded guilty in … from News – Insurance Journal https://ift.tt/3fbaA4F

Man Killed When Machinery Collapses on Him at Massachusetts Storage Facility

A 38-year-old man was killed when a piece of machinery collapsed on him at a storage facility in Everett, authorities said Monday. The man was operating a hydraulic forklift system alone at a Commercial Street facility on Monday when it … from News – Insurance Journal https://ift.tt/3laOiDN

China Regulator Urges Insurers to Expand Natural Disaster Coverage

BEIJING – China’s banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings. It also plans to raise public awareness of risks, to let natural disaster insurance … from News – Insurance Journal https://ift.tt/3iXRmRf

Fitch Sees No Ratings Change, ‘Modest Benefit’ for Liberty Mutual in State Auto Buy

Fitch Ratings said it does not expect Liberty Mutual Holding Co. Inc.’s ratings to be impacted by its planned acquisition of State Auto Group for an estimated $1 billion of cash consideration. “Given the relative size of the two organizations … from News – Insurance Journal https://ift.tt/3iZVKix

CFC Underwriting Names Newman as CEO as Walsh Becomes Group CEO

CFC Underwriting, the London-based specialist managing general agent, announced that Chief Innovation Office Graeme Newman has been appointed as the company’s new CEO. Founder and current CEO, Dave Walsh, will assume the role of group CEO effective immediately, subject to … from News – Insurance Journal https://ift.tt/3BWoTni

Insurtech Agentero to Expand Digital Network for Agents After Raising $13.5M

Agentero raised $13.5 million in new financing designed to boost and help expand its digital insurance network for agents. The California-based insurtech, launched in 2017, is designed to help insurance agents access digitally-savvy insurance carriers and boost their revenues. Agentero … from News – Insurance Journal https://ift.tt/2WsPS9P

Liberty Global Transaction Solutions Group Reorganizes EMEA Team, Led by Messinger

Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has announced a suite of team changes in EMEA. The appointments create a new regionalized structure for EMEA under the new leadership of Markus Messinger, who has been appointed head … from News – Insurance Journal https://ift.tt/3xbjqpo

Congressional Committee Asks J&J For Details on Talcum Liability Bankruptcy Plans

A U.S. congressional panel has asked Johnson & Johnson to provide it all documents related to the company’s plans to put its talc liabilities into bankruptcy, according to a letter sent on Wednesday and seen by Reuters. Democrat Raja Krishnamoorthi, … from News – Insurance Journal https://ift.tt/3iV9hYG

P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1

Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an increase in realized … from News – Insurance Journal https://ift.tt/3iZHeY5

Global InsurTech Investment Reaches Record $7.4B for H1 2021: Willis Towers Watson

Insurtech venture investment keeps climbing ever higher, with new records reached for the second quarter as well as the first half of 2021, according to the latest Willis Towers Watson report on the sector. Global insurtech investment hit $7.4 billion … from News – Insurance Journal https://ift.tt/2UZMUcE

Howden Acquires Independent Italian Broker Andrea Scagliarini SpA

Howden, the London-based insurance broker, announced an agreement to acquire Italian broker Andrea Scagliarini SpA. Financial details of the transaction were not disclosed. By establishing operations in Italy, Howden adds another market to its growing European platform, which enables it … from News – Insurance Journal https://ift.tt/2WyYOuz

CFC promotes Graeme Newman to CEO

Founder Dave Walsh takes on group CEO role to focus on CFC's global operations. from Insurer - insuranceage.co.uk https://ift.tt/3f8B46U

British On-Demand Drone Insurer Flock Raises $17 Million in Funding

British drone insurer Flock has raised $17 million from investors in early-stage funding led by venture investor Chamath Palihapitiya’s Social Capital, Flock said on Thursday. Flock started out insuring commercial drones, and added car and van fleets last year. It … from News – Insurance Journal https://ift.tt/3lgmKwO

Texas Insurance Department Warns of Fake Text Scams

The Texas Department of Insurance said fake text messages claiming to be from the agency have been reported. Texas residents should beware of these text messages, TDI said. Scam artists can make phone numbers appear to be from agencies, legitimate … from News – Insurance Journal https://ift.tt/3rGV0mr

COVID Outbreak Shuts Down Kansas Summer Camp

A suburban Kansas City summer camp has been shut down after eight COVID-19 cases were reported, and hospitals were raising alarms about a rise in infected patients. The Kansas City Star reports that the camp, which was put on by … from News – Insurance Journal https://ift.tt/3f4hJUi

Hendricks, President of Texas’ Specialty Insurance Managers, to Retire

Sherri Hendricks, a Texas insurance professional with an extensive career in the industry and current president of Austin-based Specialty Insurance Managers, is retiring. In 1980, Hendricks began her career in insurance in Corpus Christi working for Holland and Associates, a … from News – Insurance Journal https://ift.tt/3f41BlC

Elderly Colorado Man Tasered Says Cop Put Knee on Neck in Lawsuit

A 75-year-old man who suffered a cascade of health problems after a police officer used a Taser on him in his home without warning filed a lawsuit accusing the officer of also putting a knee on his neck and causing … from News – Insurance Journal https://ift.tt/3jdJU4H

California Requiring Vaccine or Testing for State Workers

California will require millions of health care workers and state employees to show proof of a COVID-19 vaccination or get tested weekly, announcing a broad measure this week to try to slow rising coronavirus infections in the nation’s most populous … from News – Insurance Journal https://ift.tt/2V1GtFQ

University Study Posses Possible Future for Western Wildfires as a Decade-Long Burst, Followed by Gradual Decline

Newswise — In recent years, wildfires on the West Coast have become larger and more damaging. A combination of almost a century of fire suppression and hotter and drier conditions has created a tinderbox ready to ignite, destroying homes and … from News – Insurance Journal https://ift.tt/2TL2s3u

Bayer Will Appeal U.S. Court Ruling on PCBss If Necessary

German chemicals maker Bayer said on Wednesday it may appeal an order in a U.S. legal case to pay $185 million to four staff members of a school in the state of Washington over exposure to polychlorinated biphenyls, or PCBs, … from News – Insurance Journal https://ift.tt/3ljLlRN

Chubb Is ‘Firing On All Cylinders,’ Says CEO Greenberg After Record Results for Q2

Chubb released positive second quarter results, driven by gains in its commercial property/casualty business and related rate hikes in the sector. The company called it a “record quarter” with “robust” numbers. The company said it had its best property/casualty premium … from News – Insurance Journal https://ift.tt/3y5E1fX

Acrobat Injured After Fall at Barnstable County Fair in Massachusetts

An acrobat has been hospitalized following injuries sustained in a fall at the Barnstable County Fair Wednesday. The man fell about 20 feet to the ground while he was performing on a large, spinning structure called the wheel of death. … from News – Insurance Journal https://ift.tt/3iPU9Mc

Maryland Investigators Say Three Fires on Same Street Intentionally Set

Three fires just days apart at homes on the same street on the Eastern Shore were set intentionally, Maryland fire investigators said. The first fire broke out Wednesday on Nokomis Avenue in Salisbury and two more broke out Friday night … from News – Insurance Journal https://ift.tt/3j0080S

The Hilb Group Acquires Massachusetts’ MillBrook Benefits and Insurance Services

The Hilb Group has acquired Massachusetts-based MillBrook Benefits and Insurance Services LLC, strengthening its presence throughout New England. Based in East Longmeadow, Massachusetts, MillBrook specializes in customized benefits solutions for businesses and their employees. Agency Principal Pete Miller and his … from News – Insurance Journal https://ift.tt/3rCN5X6

States Braced for a Wave of COVID Lawsuits. It Never Arrived.

In a legislative flurry, 30 states instituted liability protections in late 2020 and early 2021 designed to protect businesses from COVID-19 lawsuits, out of fear that companies would be sued for exposing workers, clients or vendors to the swiftly spreading, … from News – Insurance Journal https://ift.tt/2Wjl5fB

Aon Launches New Executive Committee Following Decision to Terminate Willis Merger

Aon plc has introduced a new Aon Executive Committee (AEC), following the broker’s recent decision to terminate its $30 billion acquisition of Willis Towers Watson. The AEC will be comprised of four solution lines, five regions and five shared service … from News – Insurance Journal https://ift.tt/3BTrAq2

Businesses Show They’re in No Rush to Resume Busy Travel Schedules

Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers. Their absence is noteworthy because they are a key source of revenue and profit, underpinning a record-breaking … from News – Insurance Journal https://ift.tt/2UWiLeg

In Opioid Trial Closing, West Virginia Blames Drug Distributors. Distributors Blame Doctors.

CHARLESTON, W.Va. — Lawyers for a West Virginia city and county hard hit by the opioid crisis began wrapping up their case in a $2.5 billion trial on Tuesday arguing major drug distributors flooded the region with the addictive pills, … from News – Insurance Journal https://ift.tt/3f5XDsW

Pressure on Workers to Get Vaccine Grows as Patience Runs Thin for U.S. Employers

As a resurgence in Covid-19 cases prompts more U.S. employers to require vaccinations, workers who object face a common response: Get a shot or get another job. In the past six weeks alone, a federal judge in Texas dismissed a … from News – Insurance Journal https://ift.tt/3x9HmcC

White House Calls Nixing of Aon-Willis Deal ‘Robust Enforcement’ of Antitrust Laws

The White House on Tuesday praised the Justice Department’s successful effort to stop a $30 billion deal that would have created the world’s biggest insurance broker, saying the agency’s work was “robust enforcement of the antitrust laws.” Aon Plc and … from News – Insurance Journal https://ift.tt/3l1mBxm

Peak Re to Buy Remaining 50% Stake in Caribbean Insurance Group NAGICO

Peak Reinsurance Co. Ltd., a Hong Kong-based global reinsurer, announced it has reached a definitive agreement to acquire the remaining 50% issued share capital of the Caribbean insurance group NAGICO Holdings Ltd. Financial terms of the deal were not disclosed. … from News – Insurance Journal https://ift.tt/3iVvKF9

Extinction Rebellion hits Lloyd’s in paint attack

The activist group said it threw green paint over the Lloyd’s building to highlight “shameless greenwashing”. from Insurer - insuranceage.co.uk https://ift.tt/3j0siJl

Gunmaker Remington Offers $33M to Sandy Hook School Shooting Victims’ Families

Remington Arms Co. on Tuesday offered to pay nearly $33 million to nine families to settle lawsuits claiming that its marketing of firearms contributed to the 2012 Sandy Hook school massacre in Newtown, Connecticut, where 26 people died. The proposed … from News – Insurance Journal https://ift.tt/3f55QgN

Claims Adjuster Global Risk Solutions Appoints 4 to Complex Claims Unit in London

Global Risk Solutions Group Inc., the Miami-based P/C claims adjuster, has enhanced its Complex Claims Solutions (CCS) business unit with the addition of four claims professionals in London. These appointments are detailed here: Michael Morgan, head of Energy – Europe, … from News – Insurance Journal https://ift.tt/3ybCRQa

NFP in Canada and Aviation Broker Piiq Risk Form Exclusive Partnership

NFP, a New York-based insurance broker and consultant, announced the formation of an exclusive strategic partnership in Canada with aviation re/insurance broker Piiq Risk Partners. The NFP Complex Risk Solutions Group will provide domestic account servicing in Canada to Piiq’s … from News – Insurance Journal https://ift.tt/3xk6y0h

Qlaims targets further growth after expansion into personal lines

Newly appointed CEO, Liz Latter, tells Insurance Age about the company's new personal lines offering and how MGAs and brokers can work together to support customers. from Insurer - insuranceage.co.uk https://ift.tt/3xd0K8u

Disney to Resume Florida-Based Cruises in August

Walt Disney Co’s cruise division said on Friday it would start operations from U.S. ports again next month, following a months-long pause due to the COVID-19 pandemic. Disney Dream will depart from Port Canaveral, Florida on Aug. 9 to the … from News – Insurance Journal https://ift.tt/3756UgA

Louisiana Sees Gains in Not Seasonally Adjusted Employment

The state’s not seasonally adjusted number of employed individuals increased in June both over the month and over the year for the third consecutive month, the Louisiana Workforce Commission reported. The June 2021 estimate of 1,936,239 shows a gain from … from News – Insurance Journal https://ift.tt/3iQNotz

US Says Ohio Landlord Still Harassing Female Tenants, Violating Consent Decree

A landlord in Ohio is violating a federal lawsuit consent decree by continuing to rent properties and harass female tenants, the U.S. Justice Department says. The United States Attorney’s Office filed a motion requesting a federal judge to find local … from News – Insurance Journal https://ift.tt/3zBH5AE

Tornadoes Confirmed Near Flint, Detroit, Michigan

The National Weather Service says tornadoes struck near Detroit and near Flint on the evening of July 24. The two EF-1 tornadoes touched down in Genesee County’s Clayton Township around 6:30 p.m. and in Oakland County around 7:45 p.m., the … from News – Insurance Journal https://ift.tt/3f29ece

Texas Veterans Homes Often the Deadliest Places During COVID-19 Pandemic

Mary Kay Dieterich was encouraged last year when Texas Land Commissioner George P. Bush promised to shake up the management of the El Paso nursing home where her father died of COVID-19. She knew it wouldn’t bring Eugene Forti, a … from News – Insurance Journal https://ift.tt/3x97cgE

‘Holy Moly!’: Inside the Fight Against a Texas Ransomware Hack

It was the start of a steamy Friday two Augusts ago when Jason Whisler settled in for a working breakfast at the Coffee Ranch restaurant in the Texas Panhandle city of Borger. The most pressing agenda item for city officials … from News – Insurance Journal https://ift.tt/3l1gnNW

Court Affirms Miami Condo Tower Hurricane Damage Award That Disappointed Both Sides

The 11th Circuit Court of Appeals affirmed a jury verdict that found an insurer liable for $2.6 million in damages to a Miami condominium tower caused by Hurricane Irma, rejecting arguments made in appeals filed by parties on both sides … from News – Insurance Journal https://ift.tt/3714UFN

People Moves: Covéa Insurance Names Furness CEO; BHSI Hires Chubb’s Alder-Smurthwaite; Pritchard Promoted at Swiss Re Corporate Solutions

This edition of International People Moves covers appointments at three insurers: Covéa Insurance, Berkshire Hathaway Specialty Insurance and Swiss Re Corporate Solutions. A summary of these new hires follows here. Covéa Insurance, the UK underwriting business of French mutual insurer … from News – Insurance Journal https://ift.tt/2UWsUaT

Winds Feeding California’s Largest Wildfire

It could be days before officials will be able to assess the damage done to a small town by California’s largest wildfire, one of dozens of blazes scorching lands across the U.S. West. Over the weekend, the massive Dixie Fire … from News – Insurance Journal https://ift.tt/3BIWYr0

200 Buildings Added to Avalanche Risk Areas for Alaskan City

Updated maps add 200 homes and other buildings to hazard zones for landslides and avalanches in Alaska’s capital city, bringing to about 550 the total number of structures that would be considered at moderate to severe risk of being damaged … from News – Insurance Journal https://ift.tt/3zHZ5cI

States Weigh Bans on Ransomware Payoffs

As ransomware attacks continue to wreak havoc on police departments, school districts and city and county governments, some state legislators say they’ve had enough. At least three states—New York, North Carolina and Pennsylvania—are considering legislation that would ban state and … from News – Insurance Journal https://ift.tt/3iXmQqJ

People: Millers Mutual Promotes Hess, MEMIC Hires Three to Underwriting Team

Millers Mutual Insurance Promotes Hess to VP, Chief Information Officer Millers Mutual Insurance, a regional property/casualty insurance carrier, promoted Samuel Hess to vice president and chief information officer, effective immediately. As CIO, Hess will partner with Millers’ business units to … from News – Insurance Journal https://ift.tt/3i48TIe

Car-Sharing Firm Getaround Settles Over Tax Bill, Customer Damage and Thefts

Getaround Inc. will pay $950,000 to Washington, D.C. and revise its business practices after allegations that it misrepresented the benefits and nature of its car sharing services and failed to pay city sales taxes, officials said on Friday. The Softbank-backed … from News – Insurance Journal https://ift.tt/3eZBBb8

Erosion of Sand Spit Could Threaten Connecticut Shore, Homes

A sand spit that protects part of the coastline straddling Fairfield and Bridgeport, Connecticut, is eroding and could leave the area vulnerable to flooding and other damage if measures aren’t taken to replenish it, a local environmental group says. A … from News – Insurance Journal https://ift.tt/3zGPjYp

Arthur J. Gallagher Ends $3.6B Deal to Buy Willis Re, After Aon-Willis Merger Scrapped

Arthur J. Gallagher & Co. announced it has terminated its May 12, 2021 agreement to acquire Willis Re and certain other Willis Towers Watson operations for $3.57 billion. Both Gallagher and Willis Towers Watson filed statements with the Securities and … from News – Insurance Journal https://ift.tt/3kXRAKI

National Alliance Announces States’ Insurance Customer Service Reps for 2021

The educational organization The National Alliance for Insurance Education & Research has announced this year’s winners of its annual insurance customer service representative (CSR) competition for each state. To be eligible for the National Outstanding CSR of the Year Award, … from News – Insurance Journal https://ift.tt/2USRnhg

Purdue’s Creditors Back Bankruptcy Plan That Would Pay 3,000 Opioid Lawsuits

OxyContin maker Purdue Pharma LP said on Tuesday that creditors voted in favor of its reorganization plan that would provide billions of dollars to the governments that sued the company for its role in the U.S. opioid crisis. More than … from News – Insurance Journal https://ift.tt/37ahoLj

Allstate Among Large Firms Linking CEO Pay to Diversity Gains

Corporate diversity has become the most common type of sustainability metric used in setting executive pay, a new study found, as companies look to increase the share of women and minorities in their workforces. Among 61 metrics used by Fortune … from News – Insurance Journal https://ift.tt/3l2M6OO

Insurance Investor Aquiline Capital to All Employees: Take the Week Off

No calls, no emails and no meetings. That’s the order this week from Aquiline Capital Partners to its staff. The private equity firm is putting all employees on vacation, people familiar with the matter said. It’s an unusual move intended … from News – Insurance Journal https://ift.tt/3BIjXm2

North Carolina Civil Rights Groups Reach Settlement Over 2020 Clash With Police

Civil rights groups in North Carolina have reached a settlement with the city of Charlotte and its police department in a lawsuit filed last year after officers surrounded and gassed demonstrators protesting the death of George Floyd. The terms of … from News – Insurance Journal https://ift.tt/3l1TGJI

Sabre reports COR of 74.4%

Results for H1 show GWP drop as motor specialist prioritises profitability over volume, joins Saga panel and flags creation of temporary insurance product in H2. from Insurer - insuranceage.co.uk https://ift.tt/3BJBmeb

Allianz restructure sparks mixed reactions

Brokers say senior exits at the provider lead to “some concern but also some opportunity” as the insurer is slammed for focusing on larger corporate consolidator relationships in recent months. from Insurer - insuranceage.co.uk https://ift.tt/3l1LMA2

People Moves: 26-30 July 2021

Keep up to date with the latest people moves in the insurance sector. from Insurer - insuranceage.co.uk https://ift.tt/3kXlWgo

U.S. AG Garland Hails Aon-Willis Merger Termination as a ‘Victory for Competition’

U.S. Attorney General Merrick Garland today welcomed the decision by insurance brokers Aon and Willis Towers Watson to terminate their planned $30 billion merger. “This is a victory for competition and for American businesses, and ultimately, for their customers, employees … from News – Insurance Journal https://ift.tt/3BHNxYW

Gulfstream Insurance Admits to Insolvency, Agrees to Liquidate

Personal residential insurer Gulfstream Property and Casualty Insurance Co. has agreed to liquidate according to a July 22 order signed by the Florida Office of Insurance Regulation. The Florida Department of Financial Services must agree to receivership before the liquidation … from News – Insurance Journal https://ift.tt/3yaf9na

Texas Lifting Insurance-Related COVID-19 Suspensions

A bulletin issued by the Texas Department of Insurance outlines actions the agency is taking to return to the ordinary course of business after Texas Gov. Greg Abbott rescinded suspensions of insurance-related statutes and rules issued in response to the … from News – Insurance Journal https://ift.tt/3iOy3tB

Homeownership Study of Minnesota’s Twin Cities Shows Increase in Rentals

A new study found that between 2005 and 2020, the percentage of single family rentals increased by over 10% in North Minneapolis, Southeast Como and parts of St. Paul, with Southeast Como’s rentals changing due, in part, to an aging … from News – Insurance Journal https://ift.tt/3iTvvub

Detroit Area Hit with Severe Storms, High Winds, Flooding

Thousands of utility customers in the Detroit area had no power on July 25 following a night of severe storms. DTE Energy reported nearly 135,000 customers in Oakland and Macomb counties had no service at 10:20 a.m. due to wind … from News – Insurance Journal https://ift.tt/2WrYkq9

Viewpoint: Be Prepared Before Disaster Strikes

In the wake of 2020 and winter storm Uri, we have seen firsthand how disaster can strike anytime or anywhere, causing sometimes irreparable damage — and no business is immune. Perhaps one of the greatest lessons is the importance of … from News – Insurance Journal https://ift.tt/3kXCaWX

Study: Many Texas Households Lack Homeowner’s Insurance

A study conducted the Texas Real Estate Research Center at Texas A&M University following winter storm Uri revealed a widespread lack of homeowners insurance in the state. The study shows households that are low-income, in nonmetropolitan areas, or without a … from News – Insurance Journal https://ift.tt/2WhIVZ7

People Moves: ArgoGlobal’s Birtwistle to Howden’s New Reinsurance Casualty Team; Riddell Promoted to CEO of Berkley Re Australia, Succeeding Piper

This edition of International People Moves covers appointments at London-based broker Howden Reinsurance and Berkley Re Australia. A summary of these new hires follows here. Howden Reinsurance, part of international re/insurance intermediary Howden Broking, has announced the first appointment to … from News – Insurance Journal https://ift.tt/3BHOuAh

Carfagna, Hall Introduce Data Privacy Legislation in Ohio

Two Ohio state representatives have introduced legislation aimed at protecting data privacy by creating standards for the handling of data by businesses. Rick Carfagna (R-Genoa Township) and Thomas Hall (R-Madison Township) introduced House Bill 376, known as the Ohio Personal … from News – Insurance Journal https://ift.tt/3fh17cj

Workers’ Compensation Research Study Shows No Treatment Delays Due to COVID

COVID-19 did not delay medical treatment for workers’ compensation claimants, but did decrease the amount of emergency care and other services provided to injured workers, a study released by the Workers’ Compensation Institute concludes. Research by WCRI economist Olesya Fomenko … from News – Insurance Journal https://ift.tt/3eX9Y2x

Judge: Florida Condo Collapse to Receive $150m in Initial Compensation

As the remaining rubble from the collapse of a 12-story oceanfront condominium was cleared away Wednesday, a Florida judge said victims and families who suffered losses will get a minimum of $150 million in compensation initially. That sum includes about … from News – Insurance Journal https://ift.tt/3iMZoMx

Former California Insurance Agent Sentenced for Embezzling Nearly $200K

Anna Gabriela Garcia, also known as Anna Nuno-Garcia, 48, of Capistrano Beach, Calif., was sentenced in Orange County Superior Court in Santa Ana after pleading guilty to two felony counts of embezzlement and grand theft for collecting premium payments from … from News – Insurance Journal https://ift.tt/3eXhUAU

Oregon Home Manufacturer Sued for Alleged Racism, Discrimination

Two former employees of a home manufacturing company in eastern Oregon have filed a lawsuit saying they endured anti-Black racism and discrimination, and then were fired after reporting the incidents to managers. The lawsuit was filed in federal court by … from News – Insurance Journal https://ift.tt/3y5SnNi

Firefighters Injured While Fighting Montana Wildfire

Five firefighters were injured when a thunderstorm and swirling winds in central Montana blew a lightning-caused wildfire back on them, federal officials said. All five remained in medical facilities and were still being evaluated and treated a day after they … from News – Insurance Journal https://ift.tt/3zFNgDN

California’s Largest Wildfire Torches Homes as Blazes Lash West

Flames racing through rugged terrain in Northern California destroyed multiple homes over the weeked as the state’s largest wildfire intensified and numerous other blazes battered the U.S. West. The Dixie fire, which started July 14, had already leveled over a … from News – Insurance Journal https://ift.tt/3zHvSPj

Mayor Says New York City Businesses Should Mandate Worker Vaccinations

New York City Mayor Bill de Blasio urged the city’s private sector businesses to institute vaccine requirements for their employees, saying the “limits of a purely voluntary system” have been reached. Speaking in his weekly appearance Friday on WNYC radio, … from News – Insurance Journal https://ift.tt/3l1gOYy

Maryland County Commits to Change After Lawsuit Settlement

A $2.3 million payment to a group of Black and Latino police officers to settle their workplace discrimination lawsuit against a Maryland police department is the latest effort toward reforms within the department, a county official said Thursday. Prince George’s … from News – Insurance Journal https://ift.tt/3f0p1IC

Massachusetts Man Charged with Arson Following Great Barrington Blaze

A Massachusetts man is facing charges of arson and insurance fraud in connection with a fire that consumed a building he owned in Great Barrington. The building held apartments and a retail shop but was vacant when it went up … from News – Insurance Journal https://ift.tt/3ryo9QK

Aon and Willis Towers Watson to Terminate $30B Merger; Aon to Pay $1B Fee to WTW

Aon plc and Willis Towers Watson announced that the firms have agreed to terminate their $30 billion business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first announced on March 9, 2020. … from News – Insurance Journal https://ift.tt/3i4Peb9

Software Firm Attacked on July 4 Mum on How It Got Decryption Key

The Florida company whose software was exploited in the devastating Fourth of July weekend ransomware attack, Kaseya, has received a universal key that will decrypt all of the more than 1,000 businesses and public organizations crippled in the global incident. … from News – Insurance Journal https://ift.tt/3xaby7o

Global Supply Chains Driven to Breaking Point on New COVID Wave, Natural Disasters

LONDON/BEIJING – A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, … from News – Insurance Journal https://ift.tt/3zDMaZA

Blog: Why the industry needs Race Action Through Leadership

Gallagher Re’s Abbhi Bala outlines why the insurance space needs another organisation to promote diversity across the market. from Insurer - insuranceage.co.uk https://ift.tt/3i2lziL

Florida COVID Cases Jump 65% From Previous Week

Florida’s COVID-19 hospitalizations and cases again jumped significantly this week as the vaccination rate in rural counties where some of the worst outbreaks are occurring remains well below the state and national averages. About 5,300 Floridians are now hospitalized with … from News – Insurance Journal https://ift.tt/3kWjQNN

Allianz adds tracker to claims hub

The broker-focused tool maps progress across five areas. from Insurer - insuranceage.co.uk https://ift.tt/3kVI0I9

Climate Models May Have Underestimated Impact of Extreme Weather Events

As scientists gather online to finalize a long-awaited update on global climate research, recent extreme weather events across the globe highlight the need for more research on how it will play out, especially locally. The list of extremes in just … from News – Insurance Journal https://ift.tt/3BJzIJl

China’s Financial Hub of Shanghai at Virtual Standstill as Typhoon In-Fa Makes Landfall

China’s financial hub of Shanghai was at a virtual standstill as a massive typhoon that swept across eastern China over the weekend threatened more damage as it makes landfall on Monday, after forcing the evacuation of hundreds of thousands of … from News – Insurance Journal https://ift.tt/3iRD6cN

Appeals Court Blocks CDC Pandemic Restrictions For Florida-Based Cruises

Pandemic restrictions on Florida-based cruise ships are no longer in place under a ruling Friday, July 22 by a federal appeals court, while the U.S. Centers for Disease Control and Prevention seek to fight a Florida lawsuit challenging the regulations. … from News – Insurance Journal https://ift.tt/3zCddUO

Insurance Industry Heading to Faster Recovery than After 2008 Financial Crisis: Swiss Re

The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s chief Americas economist … from News – Insurance Journal https://ift.tt/3BH8RgX

Senators Still Working on Bipartisan Federal Police Reform Bill

July 25, 2021

U.S. Senator Tim Scott said he’s hopeful an agreement on police reform will be reached but vowed that any final accord wouldn’t “demonize” the police, including allowing individual officers to be sued in civil cases. “That is dead-stop not going … from News – Insurance Journal https://ift.tt/3x2UxMf

Manufacturers Balk at ‘Right to Repair’ Initiative by Biden Administration

July 25, 2021

Americans would be freer to repair their broken cellphones, computers, videogame consoles and even tractors themselves, or to use independent repair shops, under changes being eyed by federal regulators. The regulators maintain that restrictions have steered consumers into manufacturers’ and … from News – Insurance Journal https://ift.tt/3iKRAuJ

Iowa Agent Placed on Probation Owes $30K, Has License Revoked

Des Moines, Iowa, Chad Mackland, of Council Bluffs, Iowa, recently submitted an Alford plea to the charge of Ongoing Criminal Conduct (Class B Felony) in Pottawattamie County District Court following an investigation by the Iowa Insurance Division’s Fraud Bureau. As … from News – Insurance Journal https://ift.tt/3BzcG8c

72% of Minnesota in Severe Drought

The latest U.S. Drought Monitor shows 72% of Minnesota is currently experiencing severe drought — a big jump from a week earlier, when 52% of the state was considered to be in severe drought. Minnesota Public Radio News reports the … from News – Insurance Journal https://ift.tt/3eQdYld

Worker Shortage Hampers North Dakota Oil Production

Oil production is flat in North Dakota due to a workforce shortage as the industry recovers from the coronavirus pandemic. Companies say they are in need of workers to inject water, sand and chemicals down wells to crack open rock … from News – Insurance Journal https://ift.tt/3kO0xWR

Alera Group Acquires Oklahoma’s Keller Insurance Agency

Alera Group, an independent, national insurance and wealth management firm based in Deerfield, Illinois, acquired Keller Insurance Agency, a firm specializing in commercial property/casualty insurance, with a particular focus in senior living facilities. Keller Insurance Agency is affiliated with Tulsa, … from News – Insurance Journal https://ift.tt/3rHSA7f

W.R. Berkley Reports Strong Q2, Crediting Rate Adequacy, Improving Economy

W.R. Berkley Corp. reported net premium growth exceeding 27 percent and a combined ratio under 90 for the 2021 second quarter, positive results the commercial lines insurer and reinsurer attributed to rate adequacy and an improving economy. Consolidated net premiums … from News – Insurance Journal https://ift.tt/3iEVfKL

Fire Crews Making Progress on Massive Oregon Blaze

The nation’s largest wildfire is still raging through southern Oregon but crews were scaling back some night operations as hard work and weaker winds helped reduce the spread of flames even as wildfires continued to threaten homes in neighboring California. … from News – Insurance Journal https://ift.tt/3eRnTXI

Woman Dead, 3 Missing Following Flooding in Colorado Burn Area

A woman was found dead and three other people were missing after rain triggered flooding and mudslides in an area of northern Colorado burned by a large wildfire last year, authorities said Wednesday. The woman’s body was found near the … from News – Insurance Journal https://ift.tt/3BuFLlb

Officials: Lightning Likely Caused 2020 California Forest Fire

A lightning strike likely ignited a 2020 wildfire in California’s Sierra National Forest, but the U.S. Forest Service said Friday it could not determine an official cause of the fire. September’s Creek Fire burned 600 square miles and spread so … from News – Insurance Journal https://ift.tt/3iLJsue

Bomb Squad Caused Damaging California Fireworks Explosion, Officials Say

Los Angeles bomb technicians grossly miscalculated the weight of homemade fireworks last month when they detonated them in a containment chamber, likely causing a catastrophic explosion that injured 17 people and rocked a neighborhood, the police chief said Monday. Chief … from News – Insurance Journal https://ift.tt/36Tlszt

Swiss Re Corporate Solutions Bolsters International Programs’ Team with 2 Promotions

Swiss Re Corporate Solutions has promoted William Porter as head International Programs Americas, and Reto Collenberg as head International Programs APAC and EMEA, both effective Aug.1. Together they will oversee Swiss Re Corporate Solutions’ International Programs business and market strategy … from News – Insurance Journal https://ift.tt/3x03ENV

People Moves: FM Global Expands Executive Team; Pie Insurance Adds 3 Executives

Rhode Island-based commercial property insurer FM Global is making executive management team changes, moving seasoned leaders within the company into newly created roles. Bret N. Ahnell, executive vice president and a 34-year veteran of the company, has been named chief … from News – Insurance Journal https://ift.tt/3eP1nPk

Relation Insurance Services Acquires Assets of SIG Insurance Agencies

Relation Insurance Services Inc. acquired the assets of The SIG Insurance Agencies. The partnership with SIG strengthens Relation’s existing capabilities and further expands the platform’s geographic presence in the Northeast. Headquartered in Connecticut with additional operations in New York, New … from News – Insurance Journal https://ift.tt/3x1O7NF

Pennsylvania Joining National Survey on Climate Risk in the Insurance Industry

The Pennsylvania Insurance Department (PID) is joining with other states around the country in conducting the National Association of Insurance Commissioners’ (NAIC) Climate Risk Disclosure Survey. The survey allows insurers to report on climate-related risks and opportunities and will provide … from News – Insurance Journal https://ift.tt/3eQNArt

$65M Settlement Proposed in New York Polluted Water Lawsuit

Plaintiffs in a federal class action lawsuit could get payments and medical monitoring as part of a proposed $65.25 million settlement with three companies over chemical contamination of the water supply in an upstate New York village. The Times Union … from News – Insurance Journal https://ift.tt/3eOvhDl

Flooding Damages Bridge on Russia’s Trans-Siberian Railway, Blocking Traffic

MOSCOW – Flooding has damaged a bridge on Russia’s Trans-Siberian railway in its Far East, suspending traffic in the area, officials said on Friday, and President Vladimir Putin said full track repair would take five days. The world’s longest railway … from News – Insurance Journal https://ift.tt/36WIHJa

U.S. Lawsuit Could Open ‘Giant Can of Worms’ in Amazon’s Fight Against Product Recalls

A U.S. safety regulator’s decision last week to sue Amazon.com Inc. could bring clarity to a question that has long befuddled courts and state legislatures nationwide: Who is responsible when a product bought from the world’s largest online retailer hurts … from News – Insurance Journal https://ift.tt/3kKkZbf

London Staff Want Big Pay Rises Before Returning to Their Desks Full-Time: Survey

London office workers want an average pay rise equivalent to the cost of some annual railway season tickets to return to their desks full-time after the pandemic, according to a survey. With COVID-19 restrictions leaving many offices empty, white-collar staff … from News – Insurance Journal https://ift.tt/3kN2tPm

VW Investors Approve $339M Deal to Settle Diesel-Scandal Claims Against Former Execs

FRANKFURT – Shareholders in Europe’s largest carmaker Volkswagen on Thursday approved a deal to settle claims against four former executives, including long-time CEO Martin Winterkorn, related to the company’s emissions scandal. The initial deal, which was announced last month and … from News – Insurance Journal https://ift.tt/3zxzzHf

Ryan Specialty Rose 9% in NYSE Initial Offering, Valued at $6.5 Billion

Shares of Ryan Specialty Group Holdings Inc rose 9% in their New York Stock Exchange Debut on Thursday, fetching a market capitalization of $6.5 billion for the insurance brokerage founded and led by industry veteran Patrick Ryan. The stock opened … from News – Insurance Journal https://ift.tt/3x1MfEm

Beazley returns to profit in H1 2021

Provider reports a COR of 94% as GWP rises by 22%. from Insurer - insuranceage.co.uk https://ift.tt/3kMT76c

Insurtech bolttech Acquires i-surance to Help Accelerate Expansion Across Europe

Insurtech startup bolttech announced it has acquired i-surance, a next-generation B2B2C digital insurance platform based in Berlin. Financial details of the deal were not disclosed. The transaction is part of bolttech’s international expansion strategy and follows its recent Series A … from News – Insurance Journal https://ift.tt/3kOyaaU

Blog: Why travel insurance is more important than ever

Jackson Lee Underwriting's Dipesh Patel discusses how Covid-19 has highlighted the importance of using a broker and how brokers can help clients as international travel quotations pick up again. from Insurer - insuranceage.co.uk https://ift.tt/2UycvJG

Lloyd’s Council Appoints Guy Carpenter’s Carter as 1st Female Deputy Chair

Lloyd’s announced the appointment of Vicky Carter as deputy chair of Lloyd’s, effective Sept. 1, 2021. Carter has been an elected member of Lloyd’s Council since February 2019 and has worked in the Lloyd’s market for 40 years, starting her … from News – Insurance Journal https://ift.tt/3wZqNjx

Jury Convicts Suspended Georgia Insurance Commissioner Jim Beck on Fraud, Laundering Charges

Jurors convicted suspended Georgia insurance commissioner Jim Beck on 37 counts of mail fraud, wire fraud and money laundering and tax fraud charges. The jury needed about an hour and 20 minutes to return the guilty verdict, putting an end … from News – Insurance Journal https://ift.tt/3eMqBxN

People Moves: Neaves to Lead Plexus’ Oklahoma Office; Alliant Adds McGinnis in Dallas; Rand to Assistant VP at RHSB

The Plexus Groupe Deer Park, Illinois-based The Plexus Groupe promoted industry veteran Todd Neaves to the newly created role of resident leader in its Oklahoma City office. Neaves will lead the agency’s team in Oklahoma City with a focus on … from News – Insurance Journal https://ift.tt/3iBrRVE

HUB Launches Employee Benefits Captive for Cannabis Organizations

Chicago-based HUB International Limited (HUB), a global insurance broker and financial services firm, unveiled its newly created Cannabis Benefits Captive, an exclusive employee benefits group captive for cannabis organizations. The captive is designed for cannabis clients and prospects looking for … from News – Insurance Journal https://ift.tt/3zmlCMb

5% Rate Increase Recommended for Texas Windstorm Insurer

The Actuarial & Underwriting Committee for the Texas Windstorm Insurance Association (TWIA) has recommended that the association’s board vote at its Aug. 3 meeting to file for a 5% rate increase for residential and commercial policies. TWIA is the property … from News – Insurance Journal https://ift.tt/3eKtkYK

5.44% Workers’ Comp Rate Decrease Approved in Wisconsin

Wisconsin Insurance Commissioner Mark Afable has approved an overall 5.44 percent decrease in worker’s compensation insurance rates, effective Oct. 1, 2021. This is the sixth straight year of rate decreases in Wisconsin, according to the insurance commissioner’s office. Afable said … from News – Insurance Journal https://ift.tt/3BvmmjX

Incident at Texas Dow Chemical Plant Prompts Shelter Order

Emergency officials issued evacuation or shelter-in-place orders in the morning July 21 for some people in a Houston-area city because of a “chemical incident” at a plant in the area. The shelter-in-place order was lifted later in the day. The … from News – Insurance Journal https://ift.tt/36XxDLT

Germany’s Floods Will See Sizable Protection Gap. Could Insurance Demand Increase?

With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or … from News – Insurance Journal https://ift.tt/3rt1wNl

Virus’ Presence a Reason for Case Against Ohio Insurer to Proceed: Judge

A gym and fitness center in Pennsylvania won a minor victory on July 13 in a dispute with an Ohio-based commercial property insurer over business interruption coverage claims stemming from closures caused by the COVID-19 pandemic. Judge Terrance R. Nealon … from News – Insurance Journal https://ift.tt/3eLBcsO

Beazley Enhances ‘Virtual Care’ Coverage for Growing Telehealth and Wellness Sector

Specialist insurer Beazley has enhanced its pioneering Virtual Care policy, which provides comprehensive protection against the interconnected risks facing digital health and wellness organizations. First launched in the U.S. in 2017 for the telehealth sector, demand for Virtual Care coverage … from News – Insurance Journal https://ift.tt/3y2l65Q

Massachusetts Couple Sues eBay Over ‘Unrelenting’ Harassment Campaign

A Massachusetts couple sued eBay Inc on Wednesday for being subjected to an “unrelenting stream” of threats by its employees to stifle their online newsletter critical of the e-commerce company. In a complaint filed in Boston federal court, David and … from News – Insurance Journal https://ift.tt/3zlXQzV

Vermont Town Gauges More Than $200K in Damage from Weekend Storm

The town of Brattleboro, Vermont, is reporting more than $200,000 in damage to roads and bridges from a weekend rain storm. An initial assessment was completed on Sunday, the Brattleboro Reformer reported. “It’s going to be six figures,” Public Works … from News – Insurance Journal https://ift.tt/3iSqu5d

Lawsuit Against Liberty University Alleges Mishandling of Sex Assaults

Twelve women filed a lawsuit Tuesday against Liberty University, accusing the Christian institution of a pattern of mishandling cases of sexual assault and harassment, and fostering an unsafe campus environment. The federal lawsuit filed in New York made various claims … from News – Insurance Journal https://ift.tt/3zsKdPd

PG&E in California’s Will Pay to Bury Power Lines to Prevent Wildfires

California power company Pacific Gas and Electric said on Wednesday it would bury 10,000 miles of power lines in high-risk fire zones as a safety measure after its equipment caused multiple destructive wildfires over several years. The utility, which called … from News – Insurance Journal https://ift.tt/3eLoQkq

PremFina gears for growth with investment in tens of millions

Investors have given the tech-led premium finance provider a cash injection in a move that sees it set to challenge Close Brothers and Premium Credit for a top three position in the UK. from Insurer - insuranceage.co.uk https://ift.tt/3kK5S1f

MMC Q2 Revenue Up 20%; Marsh Up 15%

Global insurance and professional services firm Marsh McLennan (MMC) reported financial results for the second quarter ended June 30, 2021, including consolidated revenue of 2021 of $5.0 billion, an increase of 20% compared with the second quarter of 2020. MMC … from News – Insurance Journal https://ift.tt/3zp6gqi

Trading to Begin on Ryan Specialty IPO at $23.50 per Share for $1.3 Billion

Chicago-based wholesale insurance broker Ryan Specialty Group Holdings, Inc. announced the pricing of its initial public offering of 57 million shares of its Class A common stock at a price to the public of $23.50 per share for gross proceeds … from News – Insurance Journal https://ift.tt/3wRNcPK

Covéa boss James Reader exits

He is succeeded by current chief operating officer, Adrian Furness, who has been with the provider since 2008. from Insurer - insuranceage.co.uk https://ift.tt/2UuWTqk

What Drug Companies Have Paid to Settle Claims Over U.S. Opioid Crisis

State attorneys general on Wednesday unveiled a $26 billion settlement with the three largest U.S. drug distributors and Johnson & Johnson to resolve thousands of lawsuits by states and local governments over the companies’ role in the country’s opioid painkiller … from News – Insurance Journal https://ift.tt/3kKJk0A

States, Municipalities Have 30 Days to Weigh $26B Opioid Deal with Major Drug Firms

A group of state attorneys general unveiled on Wednesday a landmark $26 billion settlement with large drug companies for allegedly fueling the deadly nationwide opioid epidemic, but the deal still requires support from thousands of local governments. Under the settlement … from News – Insurance Journal https://ift.tt/3kGlnYd

Embedded As a Risk, New COVID Cycle Could Challenge Economic Recovery

Five weeks after dropping its reference to the coronavirus as a weight on the economy, the U.S. Federal Reserve is confronting a challenging new rise in cases that has fueled doubts about the global recovery and is already forcing other … from News – Insurance Journal https://ift.tt/3Bunpkg

Insurance Commissioner, Acting as Liquidator of RRG, Is Not a ‘Governmental Authority’

When is an insurance commissioner not a governmental authority? A federal district judge reminds us that a state insurance commissioner, when acting as receiver of an insolvent insurer, acts in a different capacity to his governmental role. This principle can … from News – Insurance Journal https://ift.tt/2W8uHtI

AIG Employees to Return to Offices on Sept. 14 With Safety Measures

American International Group Inc., one of the largest U.S. insurers, has set Sept. 14 as its global return-to-office date, Chief Executive Officer Peter Zaffino told employees on Wednesday in a memo seen by Reuters. Zaffino said local regulations will continue … from News – Insurance Journal https://ift.tt/3wVmQMQ

Heavy Rains Cause Sewer Overflows, Flood Problems in Alabama

Heavy rains caused more than 430,000 of sewage overflows near Mobile, while another round of downpours prompted flash flood alerts in central Alabama. In Prichard, just north of Mobile, health officials told residents to stay away from standing water that … from News – Insurance Journal https://ift.tt/3BrRf8N

House Explodes in Dallas Suburb; 6 Injured

Six people were injured when a house in the Dallas suburb of Plano was destroyed in an explosion on July 19 that also left the two homes on either side of it with major damage, authorities said. Plano Fire-Rescue said … from News – Insurance Journal https://ift.tt/3xZjgSY

Agency Partnership News Wrap-Up: SAN Group, Valley Alliance, Keystone, United Valley

SAN Group Adds 16 New Member Agencies Satellite Agency Network (SAN) Group Inc. added 16 independent member agencies to the group in the first half of 2021. SAN, the founding master agency of SIAA, is now comprised of more than … from News – Insurance Journal https://ift.tt/2UrElas

First Half Insured Losses From Natural Disasters Reach 10-Year High

Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on Wednesday. Overall economic … from News – Insurance Journal https://ift.tt/2VV37Qn

Bradenton, Florida Insurance Agent Pleads Guilty to Defrauding Elderly Investors

Kenneth Murry Rossman, a certified public accountant and licensed insurance agent, pleaded guilty to conspiracy to commit wire fraud and mail fraud and aiding and assisting in the preparation and filing of a false income tax return, according to the … from News – Insurance Journal https://ift.tt/3hTCns8

People Moves: Lockton Names Presidents; Moxley Joins IOA Tallahassee Office

Lockton Lockton has promoted Neil Metzheiser to President of the Atlanta office. Metzheiser specializes in the design and implementation of property and casualty and executive protection liability programs. In his expanded role, he will work closely with production and service … from News – Insurance Journal https://ift.tt/3zkdDPv

$5.5M Settlement Reached in Washington Nurse Lawsuit

A class-action lawsuit brought by thousands of nurses who said they weren’t properly paid for lunch and other breaks has settled with Kitsap County’s main health care system, Virginia Mason Franciscan Health. Under the $5.5 million settlement, nurses will receive … from News – Insurance Journal https://ift.tt/3zlrMMC

California Healthcare Provider Paying $37M to Settle Whistleblower Lawsuits

Southern California-based Prime Healthcare Services and two of its doctors will pay $37.5 million to settle whistleblower lawsuits that claimed the hospital system paid kickbacks to one of the physicians and bought his practice for more than it was worth, … from News – Insurance Journal https://ift.tt/36RixaQ

PG&E Says Equipment Possibly Linked to Big California Wildfire

Pacific Gas & Electric reported to California utility regulators that its equipment may have been involved in the start of a fire burning in the Sierra Nevada that is threatening hundreds of homes. PG&E said in a report Sunday to … from News – Insurance Journal https://ift.tt/3hUgYyX

Advisory Firms Aite Group and Novarica Merge with Backing From Pamlico

Two Boston, Mass.-based advisory and research firms for the insurance industry are now one. Aite Group and Novarica Inc. said they have merged to create Aite-Novarica Group. The move comes with an investment by Pamlico Capital, a Charlotte, North Carolina-based … from News – Insurance Journal https://ift.tt/2V0o8Jd

Virginia Tech Says It Was Targeted in Two Recent Cyberattacks

Virginia Tech says it was targeted in two recent cyberattacks but feels confident no data was stolen. Virginia Tech spokesman Mark Owczarski told the Roanoke Times that a few university units used Kaseya, a U.S. software company exploited in early … from News – Insurance Journal https://ift.tt/36PDl2f

DuPont, Spinoffs to Pay $50M to Delaware for ‘Forever Chemical’ Cleanup

DuPont Co. and two spinoffs will pay at least $50 million to Delaware to help clean up toxic chemicals, the Delaware Department of Justice announced. It’s the first time the state’s Department of Justice has resolved environmental damage claims on … from News – Insurance Journal https://ift.tt/3zlalvE

21 Rental Mopeds Seized for Unsafe Driving on Block Island

Police on Block Island seized 21 mopeds after their drivers were seen operating them unsafely and in violation of their rental contracts over the weekend. New Shoreham, Rhode Island, police said in a release Monday that an off-duty police officer … from News – Insurance Journal https://ift.tt/3BArMKH

Pennsylvania Man Dies After Lightning Strike at Golf Course

A man died after he was struck by lightning while playing golf last week in northeastern Pennsylvania, authorities said. Lackawanna County Coroner Timothy Rowland said Monday that Joseph Slivinski. 71, of Blakely was at Pine Hills Golf Course when severe … from News – Insurance Journal https://ift.tt/3kHN1nt

Ford, Lyft, Argo AI Collaborate to Offer Robotaxi Service in Cities

Self-driving startup Argo AI, carmaker Ford Motor Co. and ride-hail company Lyft Inc. on Wednesday said they partnered to offer robotaxi trips to Lyft customers in Miami and Austin. The service is expected to launch in Miami later this year … from News – Insurance Journal https://ift.tt/2V2d2mI

Casualty Proves to Be a Good Diversifier for Reinsurers: Aon

Casualty is proving its value as a good diversifier for reinsurers, especially given the positive primary rate movement seen in recent years, according to an Aon report. The combination of challenged property experience, robust primary casualty rate levels and thoughtful … from News – Insurance Journal https://ift.tt/3zpUtYN

States’ Next Targets for Opioid Settlements Include Pharmacies and Drugmakers

With a $26 billion nationwide settlement in sight over claims that the three largest U.S. drug distributors and Johnson & Johnson helped fuel a nationwide opioid epidemic, state and local governments will soon turn their attention to pharmacies and a … from News – Insurance Journal https://ift.tt/3iqzTAA

Munich Re Reports Q2 Profit Increase of 90%

Munich Re’s net profit in the second quarter rose around 90% from a year earlier, beating expectations and giving it confidence of meeting its 2021 profit target. The German reinsurer said in an unscheduled announcement that expenses for major losses … from News – Insurance Journal https://ift.tt/3rmcrsk

China Province Deluged by Heaviest Rains in 1,000 Years, with Initial Death Toll of 16

BEIJING – A dozen people died in a flooded subway line in Zhengzhou, the capital of China’s central Henan province, after the city was drenched by what weather watchers said were the heaviest rains for 1,000 years. Video posted on … from News – Insurance Journal https://ift.tt/3zn0SEa

Shell to Appeal Landmark Climate Ruling in Dutch Court

Royal Dutch Shell Plc said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. Shell has said it will speed up its energy transition plans in … from News – Insurance Journal https://ift.tt/2VW9PWi

Video: What the papers say, episode 3

Insurance Age and Applied Systems discuss some of the hottest topics in the broking world at the moment. from Insurer - insuranceage.co.uk https://ift.tt/3xYZPtM

Medical & Commercial International Gets ‘In-Principle’ Nod to Form Lloyd’s Syndicate

Medical & Commercial International (MCI), the specialist managing general agency, has received “in-principle” approval from Lloyd’s for Syndicate 1902 to underwrite business incepting on or after Jan. 1, 2022. The syndicate will write gross written premium (GWP) of £45 million … from News – Insurance Journal https://ift.tt/3xUuGr7

Former Aon Executive Mahoney Named Chairman of Oneglobal Bermuda

Oneglobal Broking has appointed former Aon executive Dennis Mahoney as chairman of Oneglobal Bermuda, with immediate effect. Following his retirement as chairman of Aon Global, Mahoney served on the board of Ironshore prior to its sale to Liberty Mutual. Mahoney … from News – Insurance Journal https://ift.tt/3hTGUuL

UK Broker Price Forbes Acquires 100% Stake of Chile Business

Price Forbes, a London-based insurance broker, announced it has increased its shareholding in Price Forbes Chile to 100% as part of its commitment to invest in growing its presence in Latin America. Price Forbes has grown substantially in Chile since … from News – Insurance Journal https://ift.tt/3wSb8ST

Federal Judge Backs Indiana University Vaccine Mandate for Employees, Students

A federal judge is allowing Indiana University to continue with its COVID-19 vaccine requirement for all students and employees. A ruling from a judge in South Bend has rejected a request from eight IU students who sought to block the … from News – Insurance Journal https://ift.tt/3wTPJce

OSHA: Workers, Residents at Missouri Care Facility Exposed to Asbestos

Workers and residents at a Missouri residential nursing facility were exposed asbestos hazards when three employers at the site failed to ensure safe removal of the known carcinogen during a flooring replacement project, a federal workplace safety inspection alleges. OSHA … from News – Insurance Journal https://ift.tt/3rlos0Y

Worker Dies After Fall From Catwalk at Michigan Steel Company

A 50-year-old employee has died after falling from an elevated catwalk at a Detroit-area steel company. The man was pronounced dead at the former AK Steel facility following the fall which occurred about 3:15 a.m. on July 16, Dearborn police … from News – Insurance Journal https://ift.tt/3eD5TQU

El Paso Manufacturer Fined $412.75K for Safety Violations

An El Paso, Texas, metal stamping manufacturing facility with a history of workplace safety violations failed again to protect its workers from the dangers of moving machine parts, federal officials said. As a result, a worker at D&D Manufacturing Inc. … from News – Insurance Journal https://ift.tt/2VWVNDP

Florida Litigated Claims Spike in June

New litigated claims for Florida’s largest P&C insurers grew to 6,398 in June, according to data compiled by litigation management software provider CaseGlide. June litigated claims were up 14% from May’s figure of 5,364. Of the 17 largest Florida insurers … from News – Insurance Journal https://ift.tt/3rve1Iw

UK Risk Management Group Airmic Names Combes as Chair

The UK risk management association Airmic announced the appointment of Claire Combes as its next chair, effective from Sept. 1, 2021. Combes will succeed Tracey Skinner, Airmic’s current chair who also is director-Insurance & Risk Financing at BT Group plc. … from News – Insurance Journal https://ift.tt/2Ts7t0G

Former Oregon Medical Resident Says Breached Settlement Deal Breached

A former medical resident at Oregon Health & Science University who sued the school in 2018 alleging retaliation for her complaints about discrimination now accuses the school of breaching their settlement agreement. After mediation, OHSU was to pay $100,000 to … from News – Insurance Journal https://ift.tt/3735Z09

M5.1 Earthquake Confirmed off Northern California Coast

A magnitude 5.1 earthquake struck off the Northern California coast late Saturday, the U.S. Geological Survey confirmed. The earthquake just before midnight was about 12 kilometers west of Petrolia in Humboldt County and 56 kilometers southwest of Eureka, according to … from News – Insurance Journal https://ift.tt/3hTUrT7

Solar Industry, Owners Warned to Take Steps to Mitigate Wildfire Risk

Noting that wildfire is a growing source of loss for both wind and solar power producers and insurers, one of the insurers is urging the U.S. solar industry to act to mitigate wildfire risk over the coming months or face … from News – Insurance Journal https://ift.tt/3xZhUba

Africa Specialty Risks Secures $10M of PVT Capacity from Atrium at Lloyd’s

Africa Specialty Risks (ASR), the pan-African focused reinsurance managing general agent, announced it has secured an additional $10 million in capacity for its Political Violence and Terrorism (PVT) division from Lloyd’s insurer Atrium Underwriting Ltd. This is in addition to … from News – Insurance Journal https://ift.tt/3BmnaHD

People Moves: Westchester Promotes McLaughlin; New Hires at Insurity, Lockton

Insurity Appoints Campestre as Chief Sales Officer Insurity, a provider of cloud-based software for insurance carriers, brokers and managing general agencies, appointed Craig Campestre as chief sales officer. Campestre will lead Insurity’s sales strategy and operations, which includes driving revenue … from News – Insurance Journal https://ift.tt/3kDugSs

NY Attorney General Reaches $1.1B Agreement with Three Opioid Distributors

New York Attorney General Letitia James announced an agreement with McKesson Corporation, Cardinal Health Inc. and Amerisource Bergen Drug Corporation that will deliver up to $1.1 billion to New York state to combat the ongoing opioid epidemic. The $1.1 billion … from News – Insurance Journal https://ift.tt/3kCa5Er

Connecticut Regulators Finalize Fines for Utilities Over Isaias Response

Connecticut regulators finalized millions of dollars in fines against the state’s two largest electricity distributors for what officials called the companies’ failures in their preparations and responses to Tropical Storm Isaias, which caused hundreds of thousands of power outages last … from News – Insurance Journal https://ift.tt/3wQc0HF

Travelers’ Q2 Profit Boosted by Higher Premiums, Lower Catastrophe Losses

U.S. property and casualty insurer Travelers Cos .Inc. delivered an unusually large beat of second-quarter profit expectations on Tuesday, helped by higher premiums, lower catastrophe losses and a surge in returns from investments. The New York-based company, seen as a … from News – Insurance Journal https://ift.tt/3rkKtgo

People Moves: Miller’s Higgins Joins New Broker Inver Re; Hartford Hires AXA XL’s Brodzinski for Global Specialty; Bayman to MS Amlin for Aviation Reinsurance

These editions of International People Moves covers appointments at a new reinsurance broker, Ardonagh’s Inver Re; The Hartford’s Global Specialty business unit, and the aviation reinsurance division of MS Amlin Underwriting. A summary of these new hires follows here. The … from News – Insurance Journal https://ift.tt/2VQg8uv

Surplus Lines Stamping Offices Report 21.9% Premium Hike in First Half of 2021

Surplus lines premium exceeded $24 billion and premium bearing transactions exceeded 2.6 million through the first six months of 2021, according to the 2021 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices by the Wholesale & Specialty … from News – Insurance Journal https://ift.tt/3eyhd0A

People Moves: Aon Cyber Appoints Bixby; Guy Carpenter Adds 2 from Willis Re, Xywave Names 3 Senior Leaders

Hacking Expert Bixby Joins Aon Cyber Solutions Aon has appointed Adam Bixby as the new managing director, Proactive Security leader, for Cyber Solutions North America. Bixby is responsible for the Proactive Security practices, advisory and testing, leading business development, service … from News – Insurance Journal https://ift.tt/36Ru4qx

German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch

GeThe severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are likely to be Germany’s highest from … from News – Insurance Journal https://ift.tt/3hTmbHv

Firms must respond to FCA pricing reform survey by 9 August

The watchdog, which announced new rules earlier this year, is canvassing brokers about their readiness to implement the remedies. from Insurer - insuranceage.co.uk https://ift.tt/3rofOyI

News analysis: Travel brokers and the challenges of Covid-19

As travel slowly starts to pick up again, Rachel Gordon investigates how specialist travel brokers have coped during the past 16 months of turmoil for this exclusive report. from Insurer - insuranceage.co.uk https://ift.tt/3xRwt08

U.S. Firms Operating in Hong Kong Face Risks, Warns American Chamber of Commerce

HONG KONG – U.S. businesses operating in Hong Kong should reassess their operations and decide if the risks of operating there are worth the reward, the president of the American Chamber of Commerce in Hong Kong said in an interview … from News – Insurance Journal https://ift.tt/2Ul9Umf

Final Settlement for Brazil’s Samarco Mining Dam Disaster Could Reach $19 Billion

RIO DE JANEIRO – A definitive settlement with miner Samarco and owners, BHP Group and Vale SA, for the damage caused by a burst tailings dam in 2015 could reach 100 billion reais ($19.06 billion), the governor of the Brazilian … from News – Insurance Journal https://ift.tt/2W0pGmV

Qlaims moves into personal lines

The MGA said the claims product could be offered as ancillary cover by personal lines brokers or embedded into a home policy wording. from Insurer - insuranceage.co.uk https://ift.tt/2W09imq

Captain, 2 Others Charged in Deadly 2018 Missouri Duck Boat Sinking

A local prosecutor on July 16 charged a boat captain and two other employees over 17 deaths in July 2018 when a tourist duck boat sank on a Missouri lake during a severe thunderstorm, reviving the threat of long prison … from News – Insurance Journal https://ift.tt/3zhiWPF

Chemical Leak at Texas Water Park Sends 29 to Hospital

A chemical leak at a Houston-area water park left dozens suffering from minor skin irritation and respiratory issues on July 17, authorities said. Twenty-nine people were taken to local hospitals following the incident at Six Flags Hurricane Harbor Splashtown in … from News – Insurance Journal https://ift.tt/3rk8Vi0

Wisconsin Jury: Walmart Must Pay Over $125M in Disability Discrimination Case

A Wisconsin jury said Walmart must pay more than $125 million after finding against the company in a federal disability discrimination lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) said the eight-member jury in Green Bay returned a verdict of … from News – Insurance Journal https://ift.tt/3rlckgr

Lake Charles Mayor Seeks More Hurricane Aid from Washington

The mayor of a southwest Louisiana city recovering from back-to-back blows from Hurricanes Laura and Delta is in Washington hoping to persuade federal officials to steer more aid to the region where rebuilding is sputtering. The Advocate reports that Lake … from News – Insurance Journal https://ift.tt/2UuM3Al

New Case Linked to Illness Outbreak at Kansas Splash Park

Health officials have identified another person infected with the bacteria that may have caused an outbreak of illness at a splash park near Wichita. State and Sedgwick County health investigators said in a news release that at least seven people … from News – Insurance Journal https://ift.tt/2VTlJQN

People Moves: IIAT Elects Officers, Directors; Pettiette Joins Louisiana’s Dwight W. Andrus Insurance

IIAT The Independent Insurance Agents of Texas (IIAT) elected Gaylon Brown of TexCap Insurance in Dallas to serve as chair for 2021-2022 during IIAT’s annual business meeting on June 25, 2021. Brown is CEO and Managing Partner of TexCap Insurance … from News – Insurance Journal https://ift.tt/3itQcfS

Oregon Wildfire Burns More than 476 Square Miles

Erratic winds and dry lightning added to the dangers for crews battling the nation’s largest wildfire over the weekend in parched Oregon forests, just one of dozens burning across several Western states. The destructive Bootleg Fire, one of the largest … from News – Insurance Journal https://ift.tt/3BixyQF

S&P Warns of Cyber Risk’s Impact on Insurers’ Credit Ratings

Cyber risk is becoming increasingly relevant to insurer credit ratings, according to a report from S&P Global Ratings. Overall, S&P said it has noted “more credit-relevant cyber events in the last six months than in the previous six years.” S&P … from News – Insurance Journal https://ift.tt/3BbvCJM

Liberty Mutual Looks to Acquire Malaysian P/C Insurer AmGeneral

Boston-based Liberty Mutual Insurance said it will be applying for regulatory approval to acquire Malaysian property/casualty insurer AmGeneral Insurance Berhad, which is currently 51%-owned by AmBank Group and 49%-owned by Insurance Australia Group (IAG). Subject to regulatory approvals, Liberty Mutual’s … from News – Insurance Journal https://ift.tt/2V07HME

Survivors of Maryland Newspaper Shooting, Victims’ Relatives Sue

The families of five Maryland newspaper employees killed in a mass shooting in 2018 and most of the surviving employees who were in the Capital Gazette newsroom during the attack have filed two lawsuits alleging a parent company did not … from News – Insurance Journal https://ift.tt/3wMQnYR

Rhode Island Governor Vetoes Auto Body Insurance Claims Legislation

Rhode Island Governor Dan McKee has vetoed legislation regarding auto body insurance claims that he said would ultimately burden consumers. “While I recognize the stated intent of this bill is to protect consumers, and there are portions of this legislation … from News – Insurance Journal https://ift.tt/3xLTQIu

Two Firms Merging to Capitalize on Embedded Insurance Demand

Two insurtech managing general agencies plan to merge in an effort to tap into embedded insurance demand for travel and other e-commerce businesses. Seeto, which focuses on helping e-businesses build embedded coverage, said it will merge with Pattern, a startup … from News – Insurance Journal https://ift.tt/3rioFSP

Small Delaware Town Triples Police Liability Insurance

A small Delaware town has opted to triple its police department’s liability insurance, noting a rise in civil rights lawsuits. The Dewey Beach Town Council voted recently to increase the coverage from $1 million to $3 million, the News Journal … from News – Insurance Journal https://ift.tt/36NmMnu

The Hilb Group Builds Virginia Presence with Six July Acquisitions

The Hilb Group (THG) is building its presence in its home state with six acquisitions of Virginia-based agencies so far this month. The acquisitions were effective July 1. “We’re always looking to grow, especially in areas where we already have … from News – Insurance Journal https://ift.tt/3zhNnWf

China Plans to Sell Controlling Stake of Revamped Anbang (Now Called Dajia) for $5.2B

Two Chinese state investors plan to sell a combined 98.78% of their stakes in Dajia Insurance Group, the revamped entity of embattled Anbang Insurance Group, for 33.6 billion yuan ($5.19 billion), according to an auction filing on Friday. China Insurance … from News – Insurance Journal https://ift.tt/36HsNSS

TransRe Reorganizes Global Underwriting Structure, Promoting Key Leaders

TransRe has reorganized its global underwriting structure and promoted key leaders in the areas of Regional Markets, North America, Global Portfolio Management, Europe and Asia Pacific. In addition, it has restructured its casualty/liability and its professional liability teams. Paul McKeon, … from News – Insurance Journal https://ift.tt/3rlb8tz

Kin Insurance Sees Shark Tank SPAC Deal as Way to ‘Pour Gas on’ Expansion

Kin Insurance Inc., an insurance-technology startup that counts golfer Rory McIlroy among its investors, has agreed to go public through a merger with Omnichannel Acquisition Corp., a blank-check firm led by Matt Higgins, a longtime investor who has appeared as … from News – Insurance Journal https://ift.tt/3kujsWB

Zego, Supported by Swiss Re, Teams Up with bp to Insure Electric Vehicles in London

Commercial motor insurer Zego, with support from Swiss Re, has teamed up with bp, an integrated energy company, to provide professional insurance for bp’s electric vehicle trial in London, called “bp EV Pro.” The package is designed specifically for ride-hail … from News – Insurance Journal https://ift.tt/3xPKuvb

Beazley report urges insurance industry to drop "one-size-fits-all approach"

The study shows it is time for a service rethink when it comes to the insurance relationship as 44% of respondents do not believe insurers understand their business. from Insurer - insuranceage.co.uk https://ift.tt/3hUJaC5

FCA fines totalled £189.8m in 2020/21

The total amount fell by 15% from £224.4m in 2019/20 as the regulator also outlines its response to the pandemic and other actions taken last year in its annual report for 2020/21. from Insurer - insuranceage.co.uk https://ift.tt/3irySZ6

Supreme Court issues BI declarations

The Financial Conduct Authority published the document on its website alongside a table to show relevant declarations by policy type. from Insurer - insuranceage.co.uk https://ift.tt/2UpkIj8

Number of Women on Boards of UK’s Top Financial Firms Rises to 32%: Report

The proportion of women on the board at 200 of Britain’s top financial firms has risen to nearly a third in the five years since the government launched an initiative to improve gender balance in the sector, a report on … from News – Insurance Journal https://ift.tt/3evJe8U

Death Toll from European Floods Rises Above 180

The death toll from flooding in Western Europe climbed above 180 on Sunday after rescue workers dug deeper into debris left by receding waters. Police put the toll from the hard-hit Ahrweiler area of western Germany’s Rhineland-Palatinate state at more … from News – Insurance Journal https://ift.tt/2VS2F5r

S. African Riot Insurer to Shoulder Bulk of Claims After Days of Violent Civil Unrest

As calm begins to return to South Africa following days of violent riots that caused billions of rand in damage, questions are being asked about who will foot the bill. While some claims will be assessed by heavyweight insurers such … from News – Insurance Journal https://ift.tt/3io2Zkb

U.S. Fights Cyber Attacks by Blacklisting, Sanctioning Russian Tech Firms

The United States on Friday took a new stab at Russia’s cybersecurity industry, restricting trade with four information technology firms and two other entities over “aggressive and harmful” activities – including digital espionage – that Washington blames on the Russian … from News – Insurance Journal https://ift.tt/3imXAKa

Facebook Hits Back Against Biden Team Blaming It for Vaccine Misinformation

U.S. Surgeon General Vivek Murthy stood by federal guidance that those fully vaccinated against COVID-19 no longer needed to wear masks, while blaming social media companies for fueling vaccine misinformation. Murthy told CNN’s “State of the Union” that allowing vaccinated … from News – Insurance Journal https://ift.tt/3is5ulc

J&J Considers Placing Talcum Powder Liabilities Into Bankruptcy: Reuters

Johnson & Johnson is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter. During settlement discussions, one of the … from News – Insurance Journal https://ift.tt/3xL4FKS

Rescue Efforts Fell Short for Gulfstream Insurance

Plagued by worsening financial issues and under pressure from credit rating agencies, Gulfstream Property and Casualty Insurance Co. entered the first months of 2021 determined to increase its capital contributions. The Sarasota-based personal residential insurer had just come off a … from News – Insurance Journal https://ift.tt/2UgTtr5

Takeaways from Our Conversation on The Impact of California Wildfires on Cannabis Insurance

The California wildfire season is shaping up to be an ugly one, with a worsening drought and soaring temperatures in the Western U.S. Wildfires are already blazing across numerous states. As of early July, the number of fires in California … from News – Insurance Journal https://ift.tt/3irf73B

U.S. Appeals Court Sides With CDC on Enforcement of COVID Rules for Florida Cruise Ships

A U.S. appeals court late Saturday in a 2-1 ruling put on hold a lower-court decision that said the U.S. Centers for Disease Control and Prevention (CDC) could not enforce its coronavirus cruise ship rules in the state. Last month, … from News – Insurance Journal https://ift.tt/3BhoXOk

Witness Says Suspended Georgia Insurance Commissioner Used Arson Money to Buy Campaign Signs

Suspended Georgia Insurance Commissioner Jim Beck improperly took money from the private insurer he led and used it to buy campaign signs when the Republican ran for office in 2018, a witness testified Friday in Beck’s trial. The testimony came … from News – Insurance Journal https://ift.tt/3zbuN1L

Tulsa, Oklahoma: Network Hack Gained Some Social Security Numbers

Hackers gained access to the Social Security numbers of more than two dozen people during a ransomware attack that forced the city of Tulsa to shut down parts of its computer network for months, officials said. The hackers got Social … from News – Insurance Journal https://ift.tt/2VHkMLg

Nebraska Company, Owners Plead Guilty in Deadly 2015 Railcar Explosion

A Nebraska railcar-cleaning company and its two owners have pleaded guilty to violating environmental and worker safety laws after an explosion killed two employees in 2015. Adrian LaPour, 44, and Dallas Fouls, 40, were working for Nebraska Railcar Cleaning Services … from News – Insurance Journal https://ift.tt/3er3yIx

Elsa-Related Tornado Causes $1 million in Damage in Port Royal, S.C.

A tornado spawned as Tropical Storm Elsa moved inland across South Carolina caused about $1 million damage to buildings in the Beaufort County town of Port Royal, officials said. At least 44 buildings in the town of 13,000 suffered some … from News – Insurance Journal https://ift.tt/3kqL2E7

Federal Disaster Declaration Approved for Michigan

With the approval of President Joe Biden, federal disaster assistance is now available to the state of Michigan to supplement state, tribal and local recovery efforts in the areas affected by severe storms, flooding and tornadoes from June 25 to … from News – Insurance Journal https://ift.tt/3krx6tC

Kentucky To Rebid Unemployment Insurance System Amidst Cybersecurity Concerns

Concerns about cybersecurity have led the state of Kentucky to extend its search for a company to modernize its pandemic-stressed unemployment insurance system, Gov. Andy Beshear’s administration said Wednesday. The need for additional safeguards against hackers means the state will … from News – Insurance Journal https://ift.tt/3xNzI8K

Wisconsin’s Insurance Cybersecurity Measures Signed into Law

Wisconsin’s governor has signed into law legislation creating new cybersecurity requirements for protecting data collected by the insurance industry. Governor Tony Evers signed Act 73, which is based on model legislation developed by the National Association of Insurance Commissioners (NAIC) … from News – Insurance Journal https://ift.tt/36E3aSO

Washington Governor Declares Drought Emergency

Washington Gov. Jay Inslee declared a statewide drought emergency because of hot, dry conditions that have plagued the region and water supply. Citing recent record temperature that killed at least 91 people in the state, increased wildfire activity and drought, … from News – Insurance Journal https://ift.tt/3kpzHnK

Enstar to Repurchase Hillhouse’s Equity Stake, Buys Controlling Interest in Enhanzed Re

Bermuda-based Enstar Group Ltd. announced it has entered into an agreement to repurchase Hillhouse Capital Management’s entire remaining stake in Enstar for $879.3 million. The shares constitute 16.9% of total ordinary shares and 9.4% of voting ordinary shares. The transaction … from News – Insurance Journal https://ift.tt/3wNJBC6

Ousted New Mexico Police Chief Files Whistleblower Suit

Albuquerque’s former police chief is accusing top city officials of violating open record laws and a state statute meant to protect whistleblowers. Michael Geier and his former assistant, Paulette Diaz, filed a complaint against the city in state district court … from News – Insurance Journal https://ift.tt/3hHG18f

Largest Wildfire in Oregon Prompts New Evacuations

Firefighters are scrambling to control a raging wildfire in southeastern Oregon that’s spreading miles a day in windy conditions, one of numerous conflagrations across the U.S. West that are straining resources. Authorities ordered a new round of evacuations Thursday amid … from News – Insurance Journal https://ift.tt/3hJsYDB

In Its Quest for Diversity, Insurance Industry Finds One Size Does Not Fit All

In the wake of massive protests last year focused on racial equity and social justice, insurers are among the many industries confronting the need to incorporate more diversity into their hiring and business practices. There are many different ideas in … from News – Insurance Journal https://ift.tt/3eqIFNX

People Moves: Aon’s EMEA Promotions; Lockton Re Hires Charit from Aon; Miller Names Hobbs as Head of Cyber

This edition of International People Moves covers appointments at three re/insurance brokers: Aon, Lockton Re and Miller. A summary of these new hires follows here. Insurance broker Aon plc has announced several promotions within its team in the Europe, Middle … from News – Insurance Journal https://ift.tt/3ikP0LI

Delaware Captive Insurance Legislation Signed by the Governor

With Delaware Governor John Carney’s recent signature, the state’s Captive Insurance Division is providing increased flexibility in its offerings to captive insurance companies. Senate Substitute 1 for Senate Bill 36 allows captives to be classified as registered series, offers clarity … from News – Insurance Journal https://ift.tt/2UTr5ed

New York Man Arrested for Insurance Fraud Following Criminal Investigation

A New York man has been arrested for insurance fraud in the second degree following a year-long criminal investigation. On January 28, 2020, the Ellenville Fire Department requested the Ulster County Fire Investigation Unit to respond in Wawarsing, New York, … from News – Insurance Journal https://ift.tt/3xYfl9j

World Insurance Associates Acquires New Jersey’s McCue Captains Agency

World Insurance Associates LLC (WIA) has acquired McCue Captains Agency of Little Silver, New Jersey, on July 1, 2021. Terms of the transaction were not disclosed. McCue Captains Agency was founded in 1927 as a local independent insurance agent. They … from News – Insurance Journal https://ift.tt/3ky4P4m

Q&A: Have Drivers Gotten Worse Since COVID?

As the restrictions around COVID-19 are lifted, and more and more people hit the road to return to their work spaces and routines, there has been a familiar refrain: “People have forgotten how to drive.” Is it true? Are drivers … from News – Insurance Journal https://ift.tt/3xXq57u

Global P/C Industry See Strongest Rate Hikes in 20 Years but Inflation Headwinds Loom

Robust global economic recovery, higher risk awareness and the strongest rate hardening for 20 years in non-life insurance commercial lines will combine to push premiums 10% above pre-COVID-19-crisis levels this year, creating a faster bounceback than from the global financial … from News – Insurance Journal https://ift.tt/3kqcIsL

Drug Overdose Deaths Hit Record 93,000 During 2020 Pandemic

Overdose deaths soared to a record 93,000 last year in the midst of the COVID-19 pandemic, the U.S. government reported Wednesday. That estimate far eclipses the high of about 72,000 drug overdose deaths reached the previous year and amounts to … from News – Insurance Journal https://ift.tt/3ifus7n

Cape Analytics Gains $44 Million in Financing

Cape Analytics has attracted $44 million in new financing that the of property data firm plans to use for expansion, accelerated product development, and hiring of more machine learning, data science and risk experts. Launched in 2014, Cape Analytics uses … from News – Insurance Journal https://ift.tt/3z7X35g

Houston Fans Shamed by Astros Cheating Scandal Strike Out with Lawsuit

Houston Astros ticket holders can’t sue the team over its signal-stealing scandal even if it caused them “embarrassment, disappointment, shame and disgrace,” a Texas appeals court ruled Thursday. Buying a ticket gives sports fans the license for a seat at … from News – Insurance Journal https://ift.tt/2UaSB7m

FCA Business Plan a "significant change of tone"

Industry experts say firms need to focus on fair value after the regulator reveals plans to be tough and forward-looking. from Insurer - insuranceage.co.uk https://ift.tt/2UPnOgj

Uber to Share Sexual Assault Claims Data on Website in Deal with California Regulator

Uber Technologies Inc. on Thursday reached a preliminary agreement with a California regulator for sharing data on sexual assault and harassment claims on its platform while protecting victims’ privacy and avoiding a $59 million fine. Under the proposal outlined in … from News – Insurance Journal https://ift.tt/3B7Bl3j

U.S. Launches ‘Stop Ransomware’ Website; Offers Reward Up to $10M

The U.S. government on Thursday unveiled an online hub for the victims of ransomware attacks, saying it will make it easier for companies and municipalities to find resources and get assistance if they are targeted by cyber hackers. At the … from News – Insurance Journal https://ift.tt/3epX24Q

7 Indicted in Ohio for Alleged Insurance Fraud, Criminal Enterprise

A grand jury in Ohio’s Mahoning County on July 6 indicted seven people accused of taking part in a criminal enterprise that burned buildings and faked burglaries to fraudulently collect more than a million dollars from insurance companies, the state’s … from News – Insurance Journal https://ift.tt/2UitQWB

Alera Group Acquires Louisiana’s AGM Benefit Solutions Joins

Deerfield, Ill.-based insurance and wealth management firm, Alera Group, has acquired AGM Benefit Solutions, a provider of voluntary benefits, enrollment services and benefits technology headquartered in Baton Rouge, Louisiana. AGM Benefit Solutions provides its products and services to clients nationwide. … from News – Insurance Journal https://ift.tt/3ic4GAV

Arkansas Health System to Pay $52.5K to Settle Age Discrimination Lawsuit

An Arkansas healthcare provider charged with firing older workers with driving responsibilities because of their age will pay more than $52,000 to settle a federal age discrimination lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) said White River Health System … from News – Insurance Journal https://ift.tt/3eFOWFF

Minnesota Leaves Condo Inspections Up to Property Owners

Some local building inspectors in Minnesota are fielding questions from residents worried about the safety of their condo buildings following the collapse of a tower in Surfside, Florida, in June. In Minnesota, there is no state requirement for regular inspections … from News – Insurance Journal https://ift.tt/2VNTFOP

Michigan Governor Seeks Post-Flooding Federal Disaster Declaration

Michigan Gov. Gretchen Whitmer on July 13 asked the White House issue a disaster declaration to secure federal aid to deal with damage from the late June flooding in southeast Michigan. Parts of the region saw about 7 inches of … from News – Insurance Journal https://ift.tt/3khDFPk

Broker NDML and night time industry agree £5.2m BI claims settlement with Hiscox

The settlement follows on from the Supreme Court judgment in the FCA's BI test case in January. from Insurer - insuranceage.co.uk https://ift.tt/3B6vDP4

West Virginia Attorney General Opposes Purdue Pharma Bankruptcy Plan

West Virginia Attorney General Patrick Morrisey said he will oppose OxyContin maker Purdue Pharma’s bankruptcy plan, arguing that his state, one of the hardest hit by the opioid epidemic, would get shorted in settlement money. “I remain vigorously opposed to … from News – Insurance Journal https://ift.tt/3ku62JY

Texas Legislature Honors TSLA’s Patterson for 40 Years of Service

In 2006, when Jean Patterson, executive director of the Texas Surplus Lines Association, was marking her 25 years with the organization, she said her relationships with the “wonderful members” of TSLA are what keeps her “coming to work each and … from News – Insurance Journal https://ift.tt/2VMPJ0P

California Pension Fund Agrees to $2.7B Lawsuit Deal

The nation’s largest public pension fund has agreed to pay up to $2.7 billion to refund policyholders hit with huge hikes in their premiums, it was announced Tuesday. The California Public Employees’ Retirement System, or CalPERS, has agreed to settle … from News – Insurance Journal https://ift.tt/2U63ebx

Western Wildfires Threatening Parched Tribal Lands

Fierce wildfires in the northwest are threatening American Indian tribal lands that already are struggling to conserve water and preserve traditional hunting grounds in the face of a Western drought. Blazes in Oregon and Washington were among some 60 large, … from News – Insurance Journal https://ift.tt/3km6BWv

Storms Cause Heavy Flooding Across Parts of Western and Central Europe

Storms caused heavy flooding across parts of western and central Europe overnight, with one man missing after being swept away by a raging stream in eastern Germany. Firefighters resumed their search for the man in Joehstadt, in Saxony state, on … from News – Insurance Journal https://ift.tt/3rcZz7H

Uninsured South African Businesses, Wrecked by Civil Unrest, Struggle to Recover

JOHANNESBURG — After losing 53 cars during xenophobic attacks in South Africa in 2019, Johannesburg car dealership owner Okey Uchendu never thought he would see his business destroyed again by civil unrest in less than two years. Already dealing with … from News – Insurance Journal https://ift.tt/2VNiiLx

‘Sunny Day’ Floods Will Increasingly Inundate U.S. Coasts as Sea Levels Rise: NOAA

Record high-tide flooding washed over U.S. coasts in the past year, and rising sea levels are expected to send the deluges into streets, homes and businesses even more frequently over the next decade, the National Oceanic and Atmospheric Administration said. … from News – Insurance Journal https://ift.tt/3B8ob64

Allianz commits to continued broker focus after restructure

Provider says split into distinct personal and commercial businesses will not result in any redundancies. from Insurer - insuranceage.co.uk https://ift.tt/3BfLcEv

Business Insurance Customers’ 3 Top Asks and 5 Top Buying Reasons

Almost half (48%) of business insurance buyers say their trust in insurance has increased since the start of the pandemic, but only 54% believe that insurance is meeting their businesses’ challenges very well. A new report from specialty insurer Beazley … from News – Insurance Journal https://ift.tt/3kmMEyw

Milliman Offering Insurers a Simplified Flood Insurance Product Developed by Swiss Re

Milliman Appleseed, the new advisory and rating organization of actuarial firm Milliman, is offering insurers a simplified product developed by Swiss Re that makes it easier for insurers to enter the flood insurance market. The product is designed to provide … from News – Insurance Journal https://ift.tt/3wCnuOV

J&J Recalling Some Neutrogena and Aveeno Sunscreen Sprays Due to Benzene

Johnson & Johnson is voluntarily recalling five Neutrogena and Aveeno brand aerosol sunscreen products after detecting a cancer-causing chemical in some samples The New Jersey-based company said on Wednesday that consumers should stop using the products and discard them after … from News – Insurance Journal https://ift.tt/3xIEUuM

FCA pledges to be tough and take action as it publishes 2021/22 Business Plan

Watchdog to focus on innovation and tackling misconduct as it aims to to become a "forward-looking, proactive regulator". from Insurer - insuranceage.co.uk https://ift.tt/3wByI6o

P/C Insurers Plan to Boost Their Use of Automation: Willis Towers Watson

Property/casualty insurers plan to accelerate their use of automation, a new Willis Towers Watson survey found. What’s more, COVID-19 has been a major factor in the trend. The sector’s overall aspirational score (toward wanting more automation) was nearly 45%. Translated, … from News – Insurance Journal https://ift.tt/3eon7kP

Judge Dismisses Yale Student’s Virtual Learning Lawsuit

A federal judge has dismissed a Yale University student’s attempt to sue the university for partial compensation for virtual online learning during the height of the pandemic last year. The Yale undergraduate student Jonathan Michel filed a class-action lawsuit against … from News – Insurance Journal https://ift.tt/3yXe3vd

One Dead, One Injured Following Crash of Small Plane in New Hampshire

Authorities say one man is dead and another injured after their small plane crashed in New Hampshire. WMUR-TV reports the Federal Aviation Administration and the National Transportation Safety Board are investigating the incident, which occurred in Charlestown just after 5:30 … from News – Insurance Journal https://ift.tt/3elUKnp

Maine Governor to Hold Third Annual Opioid Crisis Summit

Maine’s governor plans to host the a virtual summit about the opioid crisis this week. Democratic Governor Janet Mills said she has scheduled the third annual Governor’s Opioid Response Summit for Thursday. She said the event is designed to assemble … from News – Insurance Journal https://ift.tt/3krDzVv

Howden Launches Climate Risk and Resilience Division

Howden, the London-based insurance group, announced the launch of a Climate Risk and Resilience division. Led by Charlie Langdale, the team will focus on risk transfer products that help to accelerate and de-risk the move towards a low carbon economy, … from News – Insurance Journal https://ift.tt/3z3wMVI

Extreme Drought in U.S. Prompts Emergency Crop Insurance Procedures

Responding to extreme drought conditions in parts of the country, the U.S. Department of Agriculture (USDA) is authorizing emergency procedures to help agricultural producers. USDA’s Risk Management Agency (RMA) is working with crop insurance companies to streamline and accelerate the … from News – Insurance Journal https://ift.tt/3B5UGll

Wisconsin Metal Fabricating Plant Faces $216K in OSHA Penalties

A Milwaukee, Wisconsin, metal fabricating facility continues to put its workers’ safety and health at risk, federal safety officials say. The U.S. Department of Labor’s Occupational Safety and Health Administration said two 2020 inspections identified dangerous machine and noise hazards … from News – Insurance Journal https://ift.tt/36yPpVB

California Lawsuits Say Pesticide Caused Kids Brain Damage

Lawsuits filed in California seek potential class-action damages from Dow Chemical and its successor company over a widely used bug killer linked to brain damage in children. Chlorpyrifos is approved for use on more than 80 crops, including oranges, berries, … from News – Insurance Journal https://ift.tt/36zfN1k

Judge Approves $73M Payout to Alleged UCLA Doctor Sex Victims

A federal judge has given final approval to a $73 million settlement of a lawsuit that alleged some 6,000 women were sexually abused by a former University of California, Los Angeles gynecologist. The 2019 class-action suit involved allegations that from … from News – Insurance Journal https://ift.tt/2UQ1VNW

Beazley Renews Capacity Support for Spring Partners’ Financial Institutions Business

Spring Partners, the London-based managing general agency platform, announced that insurer Beazley has renewed its capacity support for Spring’s financial institutions business for another 12 months from July 1, 2021. Financial details of Beazley’s capacity provision were not disclosed. “The … from News – Insurance Journal https://ift.tt/3z00ScG

Individual Results of Climate Stress Tests Should Not Be Disclosed: Oversight Group

Climate change financial ‘stress tests’ will need to be improved with better data and modeling, a new paper by a global oversight body has recommended, but potential losses at individual banks or insurers should not be publicly disclosed. The report … from News – Insurance Journal https://ift.tt/3wEckcF

Flash Flooding Swamps Parts of Pennsylvania, New Jersey

Parts of Pennsylvania and New Jersey on Tuesday were facing another round of rain one day after they were swamped by a series of storms that the National Weather Service said caused a rare flash flood emergency. According to forecasters, … from News – Insurance Journal https://ift.tt/2UcFhPJ

Elsa Soaks New York City and New England As It Races Up East Coast

The fast-moving storm Elsa lashed New York City and New England with heavy rain and high winds Friday, flooding streets, toppling trees and hindering some rail service. Maximum sustained winds from the storm were 50 mph by late afternoon as … from News – Insurance Journal https://ift.tt/3B4tdAL

Omaha National Announces It’s Expanding Coverage to New York

Omaha National, a provider of workers’ compensation insurance, has announced it is expanding coverage to New York. By combining proprietary insurtech software with hands-on underwriting and claims management, Omaha National has achieved a low loss ratio since being founded in … from News – Insurance Journal https://ift.tt/3ehqTN4

Burns & Wilcox Brokerage Opens Massachusetts Office, Adds Five in Northeast

Burns & Wilcox Brokerage, a business unit of H.W. Kaufman Group solely dedicated to complex wholesale property/casualty brokerage, has opened its newest office in Boston, Massachusetts, and added five brokers to its growing Northeast team. Cooper O’Connor, Brian Sullivan and … from News – Insurance Journal https://ift.tt/3r7veY6

Senate Democrats Seek Feedback on Draft Bill to Federally Legalize Cannabis

Three top Democratic senators on Wednesday unveiled a discussion draft of a bill that aims to make cannabis federally legal, a move that would allow adult Americans to buy and possess up to 10 ounces of marijuana without facing criminal … from News – Insurance Journal https://ift.tt/3kjvkdU

Travelers Makes ‘Strategic Minority Investment’ in Fidelis Insurance Holdings

The Travelers Companies said it has made a “strategic minority investment” in Fidelis Insurance Holdings, a privately-owned global specialty insurer and reinsurer. Neither side disclosed financial terms. “We are pleased to invest in a talented and proven management team and … from News – Insurance Journal https://ift.tt/2UdncRr

‘Stripe-Like’ Insurance Management API Lula Raises $18 Million

insurtech startup Lula plans to aggressively hire and expand its product capacity now that it has raised $18 million in new venture capital. Lula is an API (application programming interface) outfit that provides insurance infrastructure for companies including car rental … from News – Insurance Journal https://ift.tt/3yWY28t

What Insurers Should Know as Ransomware Takes Center Stage

Cyber criminals aren’t just stealing passwords and data. They’re stealing the spotlight. Amid the ongoing COVID-19 pandemic that has been a global focus since government shutdowns began in March of last year, insurers and businesses all over the world are … from News – Insurance Journal https://ift.tt/3wEjHRk

Verizon, Huawei Reach Patent Infringement Settlement as Trial Underway

Chinese telecommunications company Huawei Technologies Co. Ltd. and U.S. group Verizon Communications agreed to settle a pair of lawsuits alleging patent infringement, the companies both said on Monday. The confidential settlement came days into a trial that opened in one … from News – Insurance Journal https://ift.tt/3wEjEoC

Marshmallow denies trying to "dump" clients in legal spat with Mulsanne

Mulsanne launched a case against the start-up in March this year, accusing it of misusing confidential information and stealing trade secrets. from Insurer - insuranceage.co.uk https://ift.tt/3hBTgHx

Aioi Nissay Dowa Europe partners with ibott for shared mobility products

The collaboration is said to focus on insurance solutions for non-owned fleets in areas such as peer-to-peer vehicle sharing, on demand delivery, ridesharing, vehicle leasing, micromobility, and autonomous vehicles. from Insurer - insuranceage.co.uk https://ift.tt/3wGG3l0

Judge Dismisses Alabama Candidate Moore’s $95M Suit Against Comedian, Showtime

British comedian Sacha Baron Cohen on Tuesday won the dismissal of a $95 million defamation lawsuit by Roy Moore, a former U.S. Senate candidate from Alabama who claimed he was tricked into being portrayed falsely as a sex offender on … from News – Insurance Journal https://ift.tt/3B2Apx5

Ransomware Gang REvil’s Websites Vanish; Reason Unknown

Websites run by the ransomware gang REvil suddenly became unreachable on Tuesday, sparking widespread speculation that the group had been knocked offline. The Russia-linked cybercrime ring has collected tens of millions of dollars in ransom payments in return for restoring … from News – Insurance Journal https://ift.tt/3AYBnKO

IGI Launches European Subsidiary in Malta, Led by Mallia-Milanes from MAPFRE

International General Insurance Holdings Ltd. (IGI) announced it has set up a European subsidiary in Malta in order to access business across Europe. International General Insurance Co. (Europe) SE (IGI Europe), a subsidiary of Bermuda-based International General Insurance Co. Ltd., … from News – Insurance Journal https://ift.tt/3xEp0Br

Marsh Launches Saudi Arabia Engineering Hub

Insurance broker Marsh announced the launch of its Engineering Hub in Al-Khobar, Saudi Arabia. The Engineering Hub is Marsh’s third in the Middle East and Africa (MEA) region along with existing hubs in Abu Dhabi and Dubai. The hub will … from News – Insurance Journal https://ift.tt/2UOX1jS

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