Insurance Wiki How

A former West Des Moines, Iowa insurance agent was recently charged with one count of insurance fraud – presenting false information, a Class D Felony. Tanya A. Schettler, age 48, was arrested on Nov. 24 and booked into the Polk … from News – Insurance Journal https://ift.tt/3D6pfHl

M3.0 Earthquake Confirmed in Southern Utah

A minor earthquake struck parts of southern Utah, the U.S. Geological Survey confirmed. The quake struck on Friday morning, had a preliminary magnitude of 3.0 and was centered about 7 miles west of Panguitch, the USGS said. It happened at … from News – Insurance Journal https://ift.tt/3d6RAmx

Some Lessons Learned from Wildfire That Nearly Destroyed Tahoe

The devastation starts on the western slope. Many of the cabins that once lined the highway between here and Sacramento are now gone. Instead, brick and stone chimneys stand sentinel, visible through blackened toothpick trees that dot the mountainsides. Gray … from News – Insurance Journal https://ift.tt/3D7y6sv

Where Employers Stand on Vaccine Mandates, ‘New Normal’ Workplace, Remote Work, Travel

Although more than half (57%) of U.S. employers say they require or plan to require COVID-19 vaccinations of employees, much of that support depends on whether courts approve the Biden Administration’s emergency workplace safety rule requiring vaccinations or weekly testing, … from News – Insurance Journal https://ift.tt/3rnZIYc

Big Fire Gutted Large Commercial Building in California

A raging fire gutted a textile business in a large commercial building south of downtown Los Angeles. The fire, which occurred on Thursday, was the second fire at the site that week. The fire was reported just before 8 p.m. … from News – Insurance Journal https://ift.tt/3xFMzKV

OSHA Fines Georgia Grading Contractor $20,480 after Worker’s Death

If federal workplace safety requirements had been followed, a 24-year-old Georgia worker would not have been killed in a front-end loader accident in May, the U.S. Occupational Safety and Health Administration said. OSHA fined Mathis Grading Inc. $20,480 after an … from News – Insurance Journal https://ift.tt/3xBLOCV

Tennessee Approves 5.6% Cut in Workers’ Comp Loss Costs; COVID Impact Uncertain

The Tennessee commissioner of commerce and insurance has ratified a 5.6% decrease in workers’ compensation loss costs for voluntary market in 2022, which will result in the ninth straight year of rate decreases for many businesses in the state. “These … from News – Insurance Journal https://ift.tt/3xG6b1S

Aviva takes new chief claims officer from Axa

Waseem Malik is joining Aviva in March 2022, replacing Dave Lovely who recently left the provider. from Insurer - insuranceage.co.uk https://ift.tt/3D61KOD

Zywave Acquires Insurance Distribution, Quoting Software Firm ClarionDoor

Milwaukee-based Insurance technology firm Zywave reports it has acquired Santa Barbara, Calif.-based ClarionDoor, a seller of insurance product distribution software for the property/casualty market. Zywave said ClarionDoor’s digital distribution products for carriers and managing general agencies complement its own configure, … from News – Insurance Journal https://ift.tt/3loEsgW

Lawsuit Alleges Discrimination at Wilmington Fire Department

A firefighter in Delaware is accusing the Wilmington Fire Department of years of racial and religious discrimination that he says created a hostile work environment. The News Journal reported that the lawsuit was filed in federal court by veteran firefighter … from News – Insurance Journal https://ift.tt/3G0Zpqd

Applied Specialty Underwriters Launches New Infrastructure, Construction Practice

Applied Specialty Underwriters has launched a new infrastructure and construction practice and named Christopher Day as president. Additionally, John Schlosser has been named to lead the infrastructure underwriting section. The newly formed practice will respond to increased demand for infrastructure … from News – Insurance Journal https://ift.tt/316LtMN

Delaware Workers’ Compensation Insurance Rates to Decrease for Fifth Year

Delaware Insurance Commissioner Trinidad Navarro announced that workers’ compensation insurance rates in the state will decrease for the fifth year in a row, effective December 1, 2021. The voluntary market is seeing another double-digit decrease in voluntary market loss costs, … from News – Insurance Journal https://ift.tt/3I98WNK

People Moves: QBE Names Liberty Mutual’s Hunter as Dir. of Canada; Amwins Global Risks Hires Apollo’s Graham for Casualty; Ardonagh Promotes 2 Snr. Leaders

This edition of International People Moves details appointments at the insurer QBE Canada and brokers Amwins Global Risks and Ardonagh Group. A summary of these appointments follows here. QBE Appoints Liberty Mutual’s Hunter as Director of Canada QBE has appointed … from News – Insurance Journal https://ift.tt/31c6hSV

China’s Regulator Issues New Rules for Risk Management of Insurance Groups

China’s banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate their investments in other companies. The move is aimed at curbing … from News – Insurance Journal https://ift.tt/3o5hBZv

Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.

Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer, effective from … from News – Insurance Journal https://ift.tt/32FvXaR

Bain Capital Makes Final Pitch for UK Mutual Insurer LV=

Bain Capital has made a final pitch to members of British insurer LV= to back its takeover bid, after a lengthy sale process that’s drawn a dozen offers as well as political heat about preserving mutual firms. The deal will … from News – Insurance Journal https://ift.tt/3o5gXLG

Blog: Is the industry falling in love with GAP insurance again?

Avid's Steve Duxbury discusses how the market for GAP insurance has changed since the FCA's 2015 thematic review and argues that it is set for accelerated growth. from Insurer - insuranceage.co.uk https://ift.tt/2ZFOvqs

MS Amlin appoints first ever head of sustainability and ESG

Amir Sethu will be responsible for both the continued development and implementation of MS Amlin’s ESG strategy. from Insurer - insuranceage.co.uk https://ift.tt/3DjKpSN

CFC develops ransomware cost calculator

The tool can help businesses to understand the financial risk of a cyber attack. from Insurer - insuranceage.co.uk https://ift.tt/3HYVUCq

China Sets Rules to Protect Drivers’ Rights in Ride-Hailing Industry, Requiring Insurance

BEIJING – China outlined new rules on Tuesday to safeguard the rights of drivers in its giant ride-hailing industry, requiring operators of the services to provide them with social insurance and make their earnings public. In a statement, the transport … from News – Insurance Journal https://ift.tt/3o8aM9U

Australia’s Westpac Bank to Pay $80.6M in Penalties, Admits Charging Dead People

Westpac Banking Corp. agreed to pay A$113 million ($80.6 million) in penalties after the Australian regulator alleged the lender had widespread compliance failures that included charging dead people. The case includes a claim that Westpac charged more than A$10 million … from News – Insurance Journal https://ift.tt/3lo0m3Z

Owners of Thai Insurer Syn Mun Kong Explore Sale of Majority Stake

The controlling shareholders of Thai insurer Syn Mun Kong Insurance Pcl are exploring the sale of a majority stake in the firm and have picked several strategic players to advance into the next round of bidding, according to people familiar … from News – Insurance Journal https://ift.tt/3xExsRX

Fire Causes Estimated $50K in Damage at Delaware Restaurant

Fire officials in Delaware are investigating a fire that damaged a restaurant in Newark. The Delaware State Fire Marshal’s Office is investigating after the fire at Miller’s Ale House at Center Pointe Plaza, WDEL-FM reported. Firefighters were called to the … from News – Insurance Journal https://ift.tt/3d2A3fk

Oklahoma High Court Rules National American Off Hook in Earthquake Lawsuits

The Oklahoma Supreme Court ruled last week that an earth-movement exclusion precludes insurance coverage for an oil and gas company facing several lawsuits accusing its operations of causing earthquakes. National American Insurance Company brought suit against New Dominion, LLC, an … from News – Insurance Journal https://ift.tt/3dgd5l3

Massachusetts Lawmakers Weigh New Regulations for Autocycles

Proposed regulations of autocycles will be on the schedule when Massachusetts state lawmakers hold a virtual public hearing Tuesday. An autocycle is a three-wheeled motor vehicle that meets federal safety standards for a motorcycle. Unlike motorcycles, however, autocycles typically include … from News – Insurance Journal https://ift.tt/3o0Q8Za

Illinois Hospital to Pay $150,000 Over Disability Discrimination Lawsuit

The former owner of West Suburban Medical Center, an Oak Park, Illinois hospital will pay $150,000 to settle a disability discrimination lawsuit brought by the Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s lawsuit, West … from News – Insurance Journal https://ift.tt/32CrqG5

U.S. Unlikely to Impose Further Restrictions Due to Omicron COVID Variant, Says Fauci

The United States is unlikely to impose further restrictions amid the anticipated arrival of the Omicron COVID-19 variant, the nation’s top infectious disease official said on Monday after a travel ban on some southern African nations began. Dr. Anthony Fauci, … from News – Insurance Journal https://ift.tt/3D3Dk8w

NFL Owner to Pay $750 Million over Rams’ St. Louis Departure

The NFL and Rams owner Stan Kroenke will pay $790 million to settle a lawsuit filed by St. Louis interests over the team’s relocation to Los Angeles, a joint statement from St. Louis city and county said last week. No … from News – Insurance Journal https://ift.tt/3rgt36M

California Turning Down Most Fracking Permits Ahead of 2024 Ban

California regulators haven’t approved permits for the controversial oil and gas extraction process known as fracking since February, effectively phasing out the process ahead of Gov. Gavin Newsom’s 2024 deadline to end it. The state’s Geologic Energy Management Division, known … from News – Insurance Journal https://ift.tt/31aNZB4

Toxic Cables to be Removed from Lake Tahoe Under Settlement with AT&T’s Pac Bell

AT&T’s Pac Bell subsidiary has settled a lawsuit conservationists filed under a U.S. law more typically cited in Superfund cases, agreeing to spend up to $1.5 million to remove 8 miles of toxic telephone cables that were abandoned on the … from News – Insurance Journal https://ift.tt/3lgPYLe

Lawsuit Says Dairy Company is Misrepresenting Hawaii Links

A food distributor in Hawaii has filed a federal lawsuit against a dairy company because milk from the mainland is allegedly being sold under a name that advertises local ties. The lawsuit filed by Hawaii Foodservice Alliance claims Meadow Gold … from News – Insurance Journal https://ift.tt/313B5W5

Maryland Attorney General Sues Monsanto, Alleges Harm to Natural Resources

Maryland’s attorney general filed a lawsuit Tuesday against chemical company Monsanto and two spinoffs, alleging that chemicals Monsanto manufactured harmed the state’s waters, fish and wildlife and seeking to recover damages and clean-up costs. The lawsuit filed in the Circuit … from News – Insurance Journal https://ift.tt/3cYmnSe

Allstate Inks $232M Deal to Sell Most of Campus in Illinois

The Allstate Corp. announced it has reached an agreement to sell the property making up the majority of its campus in Northbrook, Illinois, to Dermody Properties for approximately $232 million. The sale is expected to close in 2022. Allstate has … from News – Insurance Journal https://ift.tt/3pawmtt

Universal Raises $100M for Future Growth

Universal Holdings, parent company of Universal Property and Casualty Insurance Co., Florida’s largest private P&C carrier, announced it had placed $100 million in notes to aid in future growth plans. The oversubscribed private placement was for 5.625% senior unsecured notes … from News – Insurance Journal https://ift.tt/3lib8ZC

Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO

Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive said. Chief Executive Officer Rowan Saunders said the … from News – Insurance Journal https://ift.tt/31coekj

Moody’s Analytics Launches Asset-Liability Management Tool for Insurance Investment

Moody’s Analytics has launched an asset-liability management (ALM) solution for insurance companies called of RiskIntegrity™ Investment Insight. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers to build liability-aware investment portfolios and better evaluate … from News – Insurance Journal https://ift.tt/2ZxuVwo

Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively; Hiscox Hires Hartford’s Pearsall as Line U/W for D&O

This edition of International People Moves, covers two promotions at Chubb and a new hire at Hiscox. A summary of these appointments follows here. Chubb Promotes Rayan and Edey for Consumer Lines Distribution and Financial Lines, Respectively Chubb announced two … from News – Insurance Journal https://ift.tt/318vnC9

Collecting $26M Award From White Nationalists May Be Challenging

Nine people who sued white nationalist leaders and organizations over the violence at a deadly rally in Charlottesville in 2017 won a $26 million judgment for the injuries and trauma they endured. But whether they will be able to collect … from News – Insurance Journal https://ift.tt/31arn3y

As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best

European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both elements, according to a new AM Best market … from News – Insurance Journal https://ift.tt/3o470yi

FCA reforms decision-making to tackle consumer harm

The “sensible streamlining” changes are designed to improve the speed and allow FCA senior managers to start civil and crimimal proceedings, cancel permissions and address individual authorisation. from Insurer - insuranceage.co.uk https://ift.tt/3o1DZDe

Activist Group Calls on Insurers to Sue Oil Companies for Climate Damages

FRANKFURT – A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists against the insurance industry. The tactic urged by The … from News – Insurance Journal https://ift.tt/3d0VcpW

Travelers Weigh Canceling, Delaying Trips as Countries Tighten Rules on Omicron Fears

SYDNEY/SINGAPORE – Some would-be travelers are considering canceling or delaying trip plans in response to fresh curbs prompted by the Omicron variant of the coronavirus, travel agents said on Monday, threatening an already fragile recovery for the global tourism industry. … from News – Insurance Journal https://ift.tt/3D2o9MQ

Ship Master Spent 50 Hours Sleepless Before Crash off Louisiana

An oil tanker hit an offshore oil platform at night off Louisiana because its Turkish operating company didn’t give the ship’s master time to recover from days of sleepless travel, federal investigators have found. The master, or person in charge … from News – Insurance Journal https://ift.tt/3pbnZOd

Wisconsin Insurance Commissioner Stepping Down

Wisconsin Insurance Commissioner Mark Afable is stepping down next month, Gov. Tony Evers said. Evers appointed Afable to the post in December 2018. Afable had previously worked for American Family Insurance and served as the company’s chief legal officer before … from News – Insurance Journal https://ift.tt/3D2di5u

Alabama DOI Relaxing Rate Filing Requirements on Flood Insurance

In an effort to increase the number of flood insurance policies in the state, the Alabama Department of Insurance is relaxing requirements that carriers file flood insurance rates, except for those covering vehicles. “More than 20% of the claims filed … from News – Insurance Journal https://ift.tt/3FX4eRi

Florida Appeals Court Dismisses Lawyers’ Complaint Against CFO in Rubin Saga

Florida’s top financial and insurance regulator may have landed in the middle of a political mess, but he and other state officials were within their rights in hiring an agency head who was later forced out over allegations of sexual … from News – Insurance Journal https://ift.tt/3rg9iwb

Florida Lawmaker Holds Town Hall Meetings on Insurance Crisis

In a sign that Florida’s property insurance problems continue to be a hot-button issue, a Florida state representative will hold town hall meetings next week to hear from stakeholders. State Rep. Kamia Brown, D-Orlando, announced the “State of the Insurance … from News – Insurance Journal https://ift.tt/3DYI8gK

When Is an Employer Immune from Tort Claims? Florida High Court Could Review after DCA Reversal

One of the largest utility companies in Florida may, after all, be shielded from tort claims by the grand bargain of workers’ compensation law, even though it had contracted maintenance work to another firm, a Florida appellate court has decided … from News – Insurance Journal https://ift.tt/3HZlozD

Organized Fraud Ring in California Sentenced for 15 Staged Collisions

Los Angeles, California residents Victor Valle-Diaz, 55, Eduardo Retana, 25, and Ausencio Gomez, 46, were sentenced to serve in state prison after pleading no contest to charges of insurance fraud and assault for their involvement in the organized ring. The … from News – Insurance Journal https://ift.tt/3D0uSag

Memo Cites Lessons from Ransomware Payments by CNA, JBS and Colonial Pipeline

In March 2021, CNA Financial Corp., one of the country’s largest insurance companies, suffered a ransomware attack from a cybercriminal group called Phoenix. The attackers pressured the insurer to pay up quickly by raising the ransom demand, claiming the data … from News – Insurance Journal https://ift.tt/3d4saWp

People Moves: Lemonade Names Burgess Chief Claims Officer; Newfront in California Adds Naranjo

Lemonade named Sean Burgess chief claims officer. Burgess will oversee the company’s key claims functions across the U.S. and EU. Burgess will be filling the role of Jim Hageman, Lemonade’s first hire in this role when founded six years ago. … from News – Insurance Journal https://ift.tt/316Fas0

Stephanie Smith, Allianz COO, to exit

November 26, 2021

It is the latest in a raft of management changes at the insurer following a restructure. from Insurer - insuranceage.co.uk https://ift.tt/3HV4Toh

Gibraltar regulator denies accusations from MCE

November 26, 2021

MCE criticised the regulator earlier this week after its Gibraltar-based insurance arm went into run-off. from Insurer - insuranceage.co.uk https://ift.tt/2Zqrmbj

Zurich unveils flood resilience initiative

November 25, 2021

Insurer says it has transformed the way it handles flood claims for both direct and broker business following a warning by the Environment Agency (EA) that the UK must “adapt or die” to climate change. from Insurer - insuranceage.co.uk https://ift.tt/3DQVhIQ

Video Q&A: Hiscox's Andrew Cheney on underinsurance in HNW

November 25, 2021

Andrew Cheney talks to Insurance Age about the dangers of underinsurance in the HNW property arena and what brokers can do to help. from Insurer - insuranceage.co.uk https://ift.tt/313yET2

Minnesota Man Awarded $25 Million in Amputation Lawsuit

Federal jurors say a Twin Cities plastic surgeon is entitled to nearly $25 million because an emergency medical provider declined to fly him back to the United States after a ziplining injury in Mexico led to a leg amputation. Richard … from News – Insurance Journal https://ift.tt/30RHMdJ

50 Years Late, Miami Courthouse Gets Inspected after Condo Collapse

The historic courthouse in downtown Miami is set to reopen after an engineering inspection that was spurred by the collapse of a nearby beachfront condominium. The 27-story Dade County Courthouse, built in 1928, never completed its required 40-year safety recertification … from News – Insurance Journal https://ift.tt/3cLNIXO

People Moves: New Chief Claims Officers at Lemonade, IAT Insurance Group

Lemonade Appoints Burgess as Chief Claims Officer Lemonade, the insurance company powered by artificial intelligence, appointed Sean Burgess as chief claims officer. As part of this move, Burgess will be filling the role of Jim Hageman, Lemonade’s first hire in … from News – Insurance Journal https://ift.tt/3FOi4ph

Three Dead, Six Seriously Injured in Baltimore Rowhouse Fire

Three people were killed and six people, including five children, were seriously injured after a fire broke out in an East Baltimore rowhouse early Monday, fire officials said. News outlets report that firefighters called to the home on North Patterson … from News – Insurance Journal https://ift.tt/3FGSulZ

Tennessee Governor’s Counsel Warned that Anti-Vax Bills Illegal

Tennessee Gov. Bill Lee’s office warned lawmakers that their sprawling bill limiting COVID-19 restrictions would violate federal law that protects people with disabilities and put the state at risk of losing federal funds, according to records obtained by The Associated … from News – Insurance Journal https://ift.tt/3FGSBxV

Arizona Attorney General Reaches $14.5M Settlement with JUUL

Arizona Attorney General Mark Brnovich announced a settlement with e-cigarette maker Juul Labs Inc. requiring the company to pay $14.5 million and make changes to its corporate practices to ensure JUUL products are not marketed or sold to youth in … from News – Insurance Journal https://ift.tt/3nM7ett

New York City Aims to Be First to Rein in AI Hiring Tools

Job candidates rarely know when hidden artificial intelligence tools are rejecting their resumes or analyzing their video interviews. But New York City residents could soon get more say over the computers making behind-the-scenes decisions about their careers. A bill passed … from News – Insurance Journal https://ift.tt/3DOVkVf

Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection

Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021 wildfire season and that it raised a Series A … from News – Insurance Journal https://ift.tt/3xhU3Um

Thai Activists’ iPhones Targeted by ‘State-Sponsored Attackers,’ Warns Apple

BANGKOK – Apple Inc. issued on Wednesday alert messages to at least six Thai activists and researchers who have been critical of the government, warning it believed their iPhones had been targeted by “state-sponsored attackers,” according to activists and the … from News – Insurance Journal https://ift.tt/3oZcA3X

North Carolina Homeowners Premiums to Rise 7.9% on Average

North Carolina homeowners will see insurance premiums climb an average of 7.9% next year, but that’s much less of an increase that a state rating bureau had requested, the state insurance commissioner announced. The North Carolina Rate Bureau had proposed … from News – Insurance Journal https://ift.tt/3HPnJwS

Louisiana Kicks Off $11 Million Housing Program for Hurricane Laura

Nearly 15 months after Hurricane Laura struck, Louisiana is kicking off $11.3 million in housing repair and rebuilding programs for the southwestern city of Lake Charles while it waits for hundreds of millions in promised federal aid to arrive. Gov. … from News – Insurance Journal https://ift.tt/3oRjRD0

Inflation, Loss Severity May Curb Nonstandard Auto Market’s Positive Momentum

Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive market trends, AM Best reports. Also, smaller players in … from News – Insurance Journal https://ift.tt/3cI3RNR

IncubEx, Led by Industry Veteran Eckert, Buys UK Insurtech Platform Insurwave

IncubEx Inc., a Chicago-based company that is chaired by industry veteran Neil Eckert and designs and develops new financial products in global environmental, climate risk and related commodity markets, announced the acquisition of Insurwave Ltd. Insurwave is an insurtech platform … from News – Insurance Journal https://ift.tt/3nKUxzi

Reuters Special Report: Burnout: Firefighter Trauma Rises in Western States

Cal Fire Battalion Chief Miguel Watson wakes to the wind whipping through the trees. The whole night is ahead of him. He lies there and then, feeling restless, gets up and walks to his pickup truck. He listens to the … from News – Insurance Journal https://ift.tt/3HQsPJd

Two Experts Debunk Some of the Biggest Myths Around Cyber Insurance

Cyber attacks are continuously evolving, and companies that don’t stay educated about the space could be caught off guard, experts say. “A lot of times, I think cyber has this type of mentality that it’s not going to happen to … from News – Insurance Journal https://ift.tt/3G01pPJ

Wall Street Faces $22 Trillion Ticking Carbon Time Bomb

The clock is ticking for banks, insurers and asset managers still providing support to oil, gas and coal producers. It’s not just the moral imperative—that fossil-fuel use is destroying the atmosphere and life on Earth with it. It’s that their … from News – Insurance Journal https://ift.tt/3l0sxpB

Claims Services Provider McLarens Forms Strategic Alliance With Polish Firm Saltex

McLarens, the Atlanta-based insurance services provider, has entered into a strategic alliance with Saltex, a Polish claims management and loss adjusting firm with offices in Warsaw and Wroclaw. Operating as McLarens’ exclusive affiliate in Poland, the partnership with Saltex will … from News – Insurance Journal https://ift.tt/3oTVlkJ

Ohio Jury Finds Major Pharmacy Chains Fueled Opioid Crisis

A Cleveland jury concluded Walmart Inc., CVS Health Corp. and Walgreens Boots Alliance Inc. helped create a public-health crisis by failing to properly monitor opioid prescriptions, the drug industry’s latest loss in the expanding litigation over the painkillers. The federal-court … from News – Insurance Journal https://ift.tt/3DRFycl

Investor Warburg Cuts Valuation of Ant Group by 15% to Below $200B: Source

HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with … from News – Insurance Journal https://ift.tt/3r6rAQc

MCE slams Gibraltar regulator after insurer arm goes into run-off

MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November. from Insurer - insuranceage.co.uk https://ift.tt/3r6ZeoX

Aviva urges brokers to take "holistic approach" to risks

Its latest risk report shows businesses are facing a "complex web" of interconnected risks. from Insurer - insuranceage.co.uk https://ift.tt/3nNVOpc

RSA boosts employee benefits

The insurer develops staff proposition by improving its maternity and adoption, paternal, and shared parental leave policies. from Insurer - insuranceage.co.uk https://ift.tt/3cOwfhi

Judge Strikes Florida Tribe’s Plan for Casinos, Sports Betting

A federal judge has struck down a plan to give the Seminole Tribe of Florida a monopoly on sports betting and to expand two of the tribe’s hotels into Las Vegas-style casinos. The ruling by U.S. District Judge Dabney Friedrich … from News – Insurance Journal https://ift.tt/3nJKHxx

People Moves: Mosaic Launches London M&A Team, Hiring From Liberty Mutual, AIG; BHSI Promotes 2 in UK; Marsh’s Dubreuil to MGA Alta Signa in Brussels

This edition of International People Moves details appointments at Mosaic Insurance, Berkshire Hathaway Specialty Insurance and MGA Alta Signa Europe. A summary of these new hires follows here. Mosaic Launches London M&A Team With Hires from Liberty Mutual, AIG Mosaic … from News – Insurance Journal https://ift.tt/3l1Q5KJ

U.S. Asks Appeals Court to Lift Stay on COVID Vaccine Mandate or Allow Mask Rule

The U.S. government asked a federal appeals court to immediately lift a court-ordered stay on a sweeping workplace COVID-19 vaccine rule to avoid “enormous” harm to public health, or alternatively to allow a masking-and-testing requirement, according to a court filing. … from News – Insurance Journal https://ift.tt/3DLv9PB

Guy Carpenter and Marsh to Combine South Africa Facultative Reinsurance Businesses

Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective Jan. 1, 2022. The new unit will operate under the Guy Carpenter … from News – Insurance Journal https://ift.tt/30NgsNL

Reliance Expands Auto Quote Platform to Tennessee

Reliance Global Group, which utilizes artificial intelligence and data mining to assist agents in writing auto insurance policies, announced it has launched 5MinuteInsure.com in Tennessee, its fifth new state in recent months. The web-based platform is designed to provide consumers … from News – Insurance Journal https://ift.tt/3nIpsvY

Guyana Weighs Raising Requirements for Insurance Cover for Oil Spills: Official

Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance, a type of insurance, … from News – Insurance Journal https://ift.tt/3oYe92p

Indiana Push for Marijuana Legalization Faces GOP Opposition

A renewed push for Indiana to join more than two-thirds of states with some form of legalized marijuana use appears to face the same roadblock from Statehouse Republicans who have opposed such a step for many years. Legislative Democrats and … from News – Insurance Journal https://ift.tt/3HGRqQV

Warrants Issued for Woman After False Claims Filed in Georgia

Georgia authorities are searching for a Virginia woman wanted for insurance fraud after she allegedly filed false claims on personal property. Georgia Insurance Commissioner John King said in a bulletin that warrants had been issued for Cassondra Daniele Fuller, of … from News – Insurance Journal https://ift.tt/30QJD23

Uber UK Accused of Undermining Court Ruling on Worker Rights

Nine months after the UK Supreme Court made a crucial decision that effectively forced Uber Technologies Inc. to provide worker rights for its riders, the firm is back in court accused of trying to undermine the judgment. Uber has challenged … from News – Insurance Journal https://ift.tt/3HMQ872

Arthur J. Gallagher Acquires Real Estate Insurance Solutions in Utah

Arthur J. Gallagher & Co. acquired Park City, Utah-based Real Estate Insurance Solutions. Terms of the deal were not disclosed. Chris Nangle and his associates will remain in their current location under the direction of Kevin Garvin, head of Gallagher … from News – Insurance Journal https://ift.tt/3r3Kgjy

Renominated Federal Reserve Chair Powell Committed to Addressing Climate Risk

U.S. Federal Reserve Chair Jerome Powell underscored his commitment to putting climate change at the center of the central bank’s policymaking decisions during his conversations with President Joe Biden, the White House said on Monday. Biden on Monday renominated Powell, … from News – Insurance Journal https://ift.tt/30U4em4

People Moves: New Hires at Risk Strategies, NFP, Ames & Gough

Risk Strategies Hires Murphy to Private Client Services Division Risk Strategies, a national specialty insurance brokerage and risk management firm, hired Alison Murphy as national practice leader of private client services. In this role, Murphy will develop and lead the … from News – Insurance Journal https://ift.tt/3CII2bO

U.S. Climate Pledge to Be Tested in Senate

After talking the climate talk at U.N. negotiations in Scotland, the Biden administration now tests whether a divided United States can walk the climate walk: push a massive investment for a new era of clean energy through the narrowest of … from News – Insurance Journal https://ift.tt/3xgkY2L

Police Arrest Suspect in Shootings at Three Baltimore County Buildings

A person arrested early Sunday on suspicion of firing a gun at three buildings in Baltimore County appeared to be having a mental health crisis, police said. The Baltimore Sun reports that no injuries were reported in the shootings by … from News – Insurance Journal https://ift.tt/3CJFJFs

Generali in Preliminary Talks to Buy Credit Agricole Subsidiary La Medicale

Assicurazioni Generali SpA is in early talks on a possible takeover of Credit Agricole subsidiary La Medicale, as part of plans to expand in European non-life and health insurance businesses, according to people with knowledge of the matter. The firm, … from News – Insurance Journal https://ift.tt/3HMD7KI

Trial of Ex-Teacher in Massachusetts Charged with Assault on Student to Start

A former Massachusetts middle school teacher accused of inappropriately touching a student is scheduled to go on trial Monday. Jeffrey Knight, a former Cohasset Middle School teacher, faces multiple indecent assault and battery on a child charges in Quincy District … from News – Insurance Journal https://ift.tt/3HJezCa

Brokers Report Cyber Insurers Requiring Security Steps Along With Higher Premiums

Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27,6%, according to The Council’s Commercial Property/Casualty Market Index for the third … from News – Insurance Journal https://ift.tt/3xilSMw

Talcum Cancer Victims Rebuff J&J’s Push for Settlement Talks

Johnson & Johnson will likely have to wait until next year before it can restart negotiations to resolve 38,000 lawsuits filed by people who claim one of its oldest products, baby powder, causes cancer and other diseases. A federal judge … from News – Insurance Journal https://ift.tt/3cHvEhC

Axa UK appoints COO for commercial lines

Ursula Wyman joins the insurer’s commercial business and its executive committee, succeeding Tim Yorke, who will be leaving the business at the end of the month. from Insurer - insuranceage.co.uk https://ift.tt/3DKH9Rp

People Moves: 22-26 November 2021

Stay up to date with the latest insurance industry moves. from Insurer - insuranceage.co.uk https://ift.tt/3l1y67k

Australia’s Weather Bureau Declares La Niña for 2nd Consecutive Year

Australia’s weather bureau said on Tuesday a La Niña weather phenomenon had developed in the Pacific Ocean for the second year in a row that could bring above average rainfall across the country’s center, north and east. La Niña is … from News – Insurance Journal https://ift.tt/3HMcMMH

Wisconsin Medical Payments per Workers’ Comp Claim Among Highest in Study

A recent study by the Workers Compensation Research Institute found that medical payments per claim with more than seven days of lost time in Wisconsin were among the highest of 18 states studied and changed little from 2014 to 2019. … from News – Insurance Journal https://ift.tt/3l1CWBh

Deadline Nears for FEMA Aid for Hurricane Ida

Louisiana residents impacted by Hurricane Ida’s destruction in August have a week remaining to seek individual assistance from the Federal Emergency Management Agency. The deadline for individuals and families to apply for federal aid for rental assistance, temporary housing, home … from News – Insurance Journal https://ift.tt/3nGq2KF

Resilience Cyber Closes $80M Funding Round to Further Expand Into Middle Market

Resilience, which offers cyber insurance and security solutions, reported that that it closed an $80 million Series C funding round as it plans for further middle market expansion and international growth. The funding round was co-led by General Catalyst and … from News – Insurance Journal https://ift.tt/3DJpPfl

Colorado Suburb Paying $15M to Settle Elijah Mcclain Suit

The Denver, Colorado suburb of Aurora has agreed to pay $15 million to settle a lawsuit brought by the parents of Elijah McClain, a Black man who died after suburban Denver police stopped him on the street and put him … from News – Insurance Journal https://ift.tt/30QioEv

K2 Launches Parametric MGA in California Headed Carpinteri

K2 Insurance Services LLC launched a managing general agency called K2 Parametric, which is being led by Scott Carpinteri, who has experience in the parametric insurance space. K2 Parametric will be based out of California. Carpinteri has more than 25 … from News – Insurance Journal https://ift.tt/3DWzrDT

Insurtech Slide Closes $100M Fundraising Round

Slide, an insurtech company based in Tampa, announced it is closing its oversubscribed, $100 million Series A fundraising round. Slide uses data, artificial intelligence and machine learning to let homeowners create insurance policies, and the fundraising will help the firm … from News – Insurance Journal https://ift.tt/3nE7qek

New Jersey Man Indicted in Connection with Auto Insurance Fraud Scam

A Hudson County, New Jersey, man was indicted for allegedly causing fraudulent automobile insurance applications to be submitted on his behalf in an attempt to avoid paying the policy premiums. John A. Loor (also known as John A. Loor-Benitez) of … from News – Insurance Journal https://ift.tt/3kYotGk

Biden’s Proposed Inflation Cap on Drug Prices Includes Privately Insurance Plans

Workers and families with private health insurance would reap savings on prescription drugs from a little-noticed provision in President Joe Biden’s sweeping social agenda bill. It’s meant to break the cycle of annual price increases for widely used medicines. That … from News – Insurance Journal https://ift.tt/3CKSE9Y

Crash Kills 2 Missouri Highway Workers

Two state Department of Transportation workers were killed and another was seriously injured Thursday after they were hit by a car on an interstate ramp in eastern Missouri, authorities said. The collision occurred as the workers were repainting stripes on … from News – Insurance Journal https://ift.tt/3HINVt0

Pennsylvania Lawmakers Try Anew to Toughen Penalty for Repeat DUI Drivers

The Pennsylvania House of Representatives approved legislation aiming to increase penalties for motorists who have multiple DUI convictions to end what critics have called Pennsylvania’s “revolving door” for the most serious drunk drivers. The bill passed, 168-32, and goes to … from News – Insurance Journal https://ift.tt/3xj1qef

Gallagher/Willis Re deal gets green light from competition watchdog

The CMA launched a merger inquiry into the $3.25bn takeover in October. from Insurer - insuranceage.co.uk https://ift.tt/3DKnuAR

Habart Named Director of Tennessee’s Surging Captive Section

The Tennessee Department of Commerce and Insurance has promoted the Captive Insurance Section’s acting manager to be director of the section. Jonathan Habart has been acting director since Aug. 3 and was assistant director for 10 months prior to that, … from News – Insurance Journal https://ift.tt/32ihLEt

Operator of Boat That Crashed in Massachusetts, Killing One, Pleads Not Guilty

A businessman who was operating a luxury powerboat that crashed in Boston Harbor last summer, leaving one passenger dead and five others injured, has pleaded not guilty to involuntary manslaughter and multiple assault and battery charges. A judge set bail … from News – Insurance Journal https://ift.tt/3HTHZxE

FSCS confirms MCE Insurance Company has failed

The Gibraltar-based business went into run-off on 5 November, citing difficulties with Solvency II, while the UK-headquartered division of the company has signed a fresh capacity deal with Sabre. from Insurer - insuranceage.co.uk https://ift.tt/30ODgwp

Amazon and Its Algorithms Blamed for Crashes by Delivery Drivers

Ans Rana was in the back seat of his brother’s Tesla Model S when they stopped behind a disabled car just before 9 p.m. on Atlanta’s busy Interstate 75. Seconds later, a blue Amazon.com Inc. delivery van slammed into them … from News – Insurance Journal https://ift.tt/3HLpdIL

Pool Re boss to exit next year

Julian Enoizi is to step down in Spring 2022 after leading the terrorism reinsurer for eight years, with Pool Re stating that the process of finding his successor has begun. from Insurer - insuranceage.co.uk https://ift.tt/3DNt9X6

Apollo’s Syndicate 1971 to Open for Trading in 2022

Apollo Syndicate Management, the independent specialist insurer and reinsurer, announced it has received Lloyd’s approval to establish and manage ibott Syndicate 1971 for the 2022 year of account. It has also been granted permission to underwrite in accordance with the … from News – Insurance Journal https://ift.tt/3oPxhiR

Climate Change Could Fuel Atmospheric Rivers, Which Caused Recent Canada Floods

Atmospheric rivers of the kind that drenched California and flooded British Columbia in recent weeks will become larger — and possibly more destructive — because of climate change, scientists said. Columns in the atmosphere hundreds of miles long carry water … from News – Insurance Journal https://ift.tt/3CEMOai

Fertilizer-Maker Yara to Debut World’s 1st Autonomous Electric Container Ship

OSLO – The world’s first fully electric and self-steering container ship, owned by fertilizer maker Yara, is preparing to navigate Norway’s southern coast and play its part in the country’s plans to clean-up its industry. The Yara Birkeland, an 80-meter-long … from News – Insurance Journal https://ift.tt/3qYNW6d

Wind Turbine Maker Vestas’ Shares Drop as Cyber Attack Risks Output Delays

Shares in Vestas Wind Systems A/S dropped to a two-week low after one of the world’s top makers of wind turbines was hit by a cyber attack. The Danish company said data was compromised, but that there are no signs … from News – Insurance Journal https://ift.tt/3oMDNHi

Texas High School Band Bus Crash Kills 3

The three men killed in a fiery West Texas crash involving a school bus carrying members of a high school band included the band director, the Texas Department of Public Safety said Saturday. Andrews High School band director Darin Johns, … from News – Insurance Journal https://ift.tt/3nDOKvi

UK Competition Regulator Ends Probe Into Gallagher’s Planned Purchase of Willis Re

Britain’s competition watchdog said on Monday it will not refer insurance broker Arthur J Gallagher & Co’s planned $3.25 billion purchase of Willis Towers Watson’s treaty reinsurance brokerage business to an in-depth investigation. The Competition and Markets Authority said it … from News – Insurance Journal https://ift.tt/3FBC2Dp

Report: Texas Still at Risk of Winter Power Failures

Texas is still at risk of power blackouts this winter in the event of extreme weather like the catastrophic February storm that buckled the state’s electrical grid and left millions of people without heat for days, the nation’s grid monitor … from News – Insurance Journal https://ift.tt/30MiixE

Independent Agents Can Access Tech Training, Tools with Catalyit

November 21, 2021

Independent agent associations in seven states have teamed up with the technology company Catalyit to help agencies assess and improve their use of data and technological innovations in the insurance arena. “Every day, agents reach out to FAIA with questions, … from News – Insurance Journal https://ift.tt/3CIyI7A

Insureds May be Cooling to Digital Claims Experience

November 21, 2021

Policyholders are starting to pull back from digital channels as the COVID-19 pandemic eases and revert to in-person ways to file insurance claims, a senior executive at Zurich Insurance Group told the Reuters Connected Claims USA event this week. The … from News – Insurance Journal https://ift.tt/3DHLl47

Alabama DOI to Hold Hearing on Merger of ProAssurance and Noetic

The Alabama Department of Insurance will hold a public hearing Dec. 6 on the proposed merger of Birmingham-based ProAssurance Specialty Insurance Co. and Noetic Specialty Insurance, a Vermont company. The publicly traded ProAssurance, which also acquired the NorCal Group earlier … from News – Insurance Journal https://ift.tt/3CAVmP8

Kentucky Contractors’ Self-Insurers’ Fund Returns $27M Dividend

The Kentucky Associated General Contractors’ Self-Insurers’ Fund will make a $27 million dividend payment to members next spring, the fund announced. The dividend marks the 28th straight year that the fund has made a dividend payment, and the payouts now … from News – Insurance Journal https://ift.tt/3oNY9jr

People Moves: Hiscox Hires Starr’s Buchanan as Casualty Dir.; Sharpe, Griffiths to Inver Re’s Exec Team; Plumptre, Fox Join Blenheim Underwriting’s Political Risk Team

This edition of International People Moves details appointments at insurer Hiscox, the reinsurance broker Inver Re, and the Lloyd’s managing agency, Blenheim Underwriting. A summary of these new hires follows here. Hiscox Appoints Starr’s Buchanan as Casualty Director Hiscox, the … from News – Insurance Journal https://ift.tt/3csvqKX

Florida Supreme Court Suspends Witness-Coaching Attorney for 91 Days

The Florida Supreme Court has suspended a workers’ compensation defense lawyer for 91 days after he was caught coaching a deposition witness through text messages, then being less than candid about it to a judge. Derek James, of Maitland, Florida, … from News – Insurance Journal https://ift.tt/3FB7L7T

$5M Settlement in Arizona Suit over Man’s Death During Arrest

Phoenix, Arizona officials agreed to pay $5 million to settle a lawsuit over the January 2017 death of a Black man during an arrest attempt in which he cried out that he couldn’t breathe as officers held him down. The … from News – Insurance Journal https://ift.tt/3kNZjtS

Texas Crane Company to Pay $24,000 to Worker Who Refused to Violate Law

A federal whistleblower investigation led the U.S. Department of Labor’s Occupational Safety and Health Administration to order a Houston mobile crane rental company to pay a former employee nearly $24,000 in back wages, interest and damages after firing the worker … from News – Insurance Journal https://ift.tt/3r1ibt8

Son of Black Man Killed by California Police Settles Lawsuit for $1.3M

The child of a Black man who was fatally shot by Southern California police in 2018 – and whose death spurred lawmakers to enact a state law that decertifies officers who act criminally or with bias – has settled a … from News – Insurance Journal https://ift.tt/3nxnxKH

Lawsuit Says Baldwin Had No Reason to Fire in New Mexico Movie Set Shooting

A lawsuit alleges that Alec Baldwin recklessly fired a gun when it wasn’t called for in the script when he shot and killed cinematographer Halyna Hutchins and injured director Joel Souza on the New Mexico set of the film “Rust.” … from News – Insurance Journal https://ift.tt/30FwGI0

California Couple’s $86M Award in Monsanto Pesticide Case Stands

California’s highest court rejected has a challenge by Monsanto Co.’s to $86.2 million in damages to a couple who developed cancer after spraying the company’s Roundup weed-killer in their yards for three decades. The state Supreme Court’s denial of review … from News – Insurance Journal https://ift.tt/3DzS3Jw

Brit Completes $380M Loss Portfolio Transfer With Legacy Specialist RiverStone

Brit Ltd. announced it has completed a loss portfolio transfer (LPT) agreement with RiverStone International. The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is … from News – Insurance Journal https://ift.tt/3HByGCi

Live Nation, Apple, Travis Scott Face $2 Billion Over Astroworld Crush

A Texas trial attorney has filed a $2 billion lawsuit following the Astroworld music festival crush that killed 10 people and left hundreds more injured. The lawsuit filed by Houston attorney Thomas J. Henry is on behalf of 282 victims … from News – Insurance Journal https://ift.tt/3csgjBt

Damp Jersey Shore Town Ponders a Fix for ‘Sunny Day’ Floods

An elite but often-underwater beach town at the Jersey Shore is looking for its own solutions to back bay flooding, deciding it can’t wait for state and federal officials to agree on a fix. Bay Head is studying options to … from News – Insurance Journal https://ift.tt/30Ig5ni

Women Sue Yale Over Fentanyl Switch-Up at Fertility Clinic

Seven women who say they suffered excruciating pain after a nurse stole fentanyl for her personal use and replaced it with saline sued Yale University on Wednesday, alleging it of failing to safeguard its supply of the painkilling opioid at … from News – Insurance Journal https://ift.tt/3oMyLdx

Kaplansky Insurance Acquires Massachusetts’ Judith M. Flynn Agency

Kaplansky Insurance acquired Judith M. Flynn Insurance Agency Inc., located in Dorchester, Massachusetts. This deal serves as Kaplansky’s fourth acquisition of 2021 and 38th overall and contributes to its growth across New England. Judith M. Flynn Insurance Agency has offered … from News – Insurance Journal https://ift.tt/3oD3nhy

Swiss Re and China Tech Giant Baidu Partner to Advance Autonomous Driving Industry

Swiss Re and Chinese tech giant Baidu are teaming up to further develop the autonomous driving industry, announced Swiss Re. The partnership between Swiss Re and Baidu aims to further develop the autonomous driving industry by advancing risk management research … from News – Insurance Journal https://ift.tt/3cAhwGF

State Farm and Generali Join Investors in Computer Vision Startup Nexar

State Farm and Generali joined the $53 million financing round for Nexar, an artificial intelligence computer vision startup based in New York. The technology startup provides crowdsourced visual data that is contextualized with AI and is designed to provide insights … from News – Insurance Journal https://ift.tt/3nvErJC

New U.S. Rule Requires Banks to Promptly Report Cyber Incidents

U.S. banking regulators on Thursday finalized a rule that directs banks to report any major cybersecurity incidents to the government within 36 hours of discovery. Separately, the banking industry said it had successfully completed a massive cross-industry cyber security drill … from News – Insurance Journal https://ift.tt/30LUtGP

Aventus develops digital underwriting platform

The offering adds to is distribution and customer management proposition and is designed for brokers and MGAs. from Insurer - insuranceage.co.uk https://ift.tt/3nwUkQf

MCE blames Solvency II as Gibraltar-based insurance arm goes into run-off

MCE boss Julian Edwards says Solvency II favours larger insurers as he discusses the broker's capacity deal with Sabre. from Insurer - insuranceage.co.uk https://ift.tt/3cqoK00

Australia’s Corporate Regulator Sues MLC Life for Causing Financial Harm of $13M

Australia’s corporate regulator said on Friday it was suing MLC Life Insurance for causing financial harm of A$17.5 million ($12.73 million) to over a quarter million customers by not paying benefits and charging premiums without notice. MLC is a part … from News – Insurance Journal https://ift.tt/3HNoXZR

Canada Insurer Definity Surges on Market Debut After $1.6B IPO Backed by Swiss Re

TORONTO – Insurer Definity Financial Corp jumped as much as 36% on its stock market debut on Thursday after raising C$2.1 billion ($1.6 billion) in Canada’s second-largest IPO. Waterloo, Ontario-based Definity priced its IPO at C$22.00 per share, the top … from News – Insurance Journal https://ift.tt/3nvSA9P

People Moves: Changes at the Top at Marsh McLennan, Marsh and Guy Carpenter

Doyle: MMC Group President, COO; South: President, CEO, Marsh; Klisura: President, CEO, Guy Carpenter; Donnelly: President, Marsh US and Canada. Marsh McLennan announced changes to its executive committee effective January 1, 2022. The company has promoted John Doyle to group … from News – Insurance Journal https://ift.tt/3nr6eem

Michigan Man Pleads Guilty in $1.6 Million Unemployment Insurance Scam

A Detroit man pleaded guilty today to wire fraud and identity theft in a scheme to defraud nine states out of more than $1.6 million in unemployment insurance benefits, announced Acting United States Attorney Saima Mohsin. Joining in the announcement … from News – Insurance Journal https://ift.tt/3Dy82rr

People Moves: SiriusPoint Appoints Bernina Re’s Kull as CRO; Hiscox Names Breeze Interim CFO; Tysers’ Simpson Leads BMS’ Terrorism, Political Violence Team

This edition of International People Moves details appointments at re/insurer SiriusPoint, insurer Hiscox and broker BMS. A summary of these new hires follows here. SiriusPoint Appoints Bernina Re’s Kull as CRO SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, has … from News – Insurance Journal https://ift.tt/3wZlnGQ

Kansas School District to Pay $295,000 to Family of Girl Stalked by Teacher

A suburban Kansas City, Kansas, school district secretly agreed earlier this year to pay $295,000 to the family of an Olathe elementary student who was stalked by a now-jailed former teacher. Olathe Public Schools finalized the settlement back in May … from News – Insurance Journal https://ift.tt/3cwss8d

4.0 Magnitude Earthquake Strikes Southeast Missouri

A 4.0 magnitude earthquake struck southeast Missouri late Wednesday, Nov. 17, according to the United States Geological Survey earthquake map. The earthquake hit northwest of Poplar Bluff, a town with a population of approximately 17,000. The earthquake struck just before … from News – Insurance Journal https://ift.tt/3nu5btX

Where Insurance Prices Will Moderate in 2022. And Where They Probably Won’t.

Commercial insurance prices in general should stabilize in 2022, although not in cyber where increases from 50% to as much as 150% could be in store, according to one brokerage’s predictions Willis Towers Watson also said in a report that … from News – Insurance Journal https://ift.tt/3HxXdbo

Hair Affair: Carolina Man Claiming Hair in Burger Charged with Insurance Fraud

A Georgia man who claimed he found a hair in his McDonald’s hamburger has now been charged with insurance fraud. Ronnie Bernard Truesdale, 41, of Raleigh, was arrested this week after authorities determined that he had manipulated an image in … from News – Insurance Journal https://ift.tt/3qK9LXc

Transgender Woman Sues in California After Cell Beating

A transgender woman is suing the San Diego County Sheriff’s Department after she was placed in a jail cell with three men and beaten so badly that her jaw was broken, according to the lawsuit. Kristina Frost was “viciously attacked” … from News – Insurance Journal https://ift.tt/32iYQK1

Boston Police Detective Who Alleged Sex Discrimination Awarded $2M

A federal jury has awarded $2 million to a high-ranking Boston police detective who said in a lawsuit against the department and her former supervisor that she was the victim of gender discrimination. The jury Monday after a four-week trial … from News – Insurance Journal https://ift.tt/3x6vI3N

New York Man Charged with Murdering Woman in Murder-for-Hire Scheme

A Queens, New York, man has been charged with murdering a woman for life insurance benefits. A superseding indictment was filed in federal court in Brooklyn charging Cory Martin with murder-for-hire and conspiracy to commit murder-for-hire. Martin was previously charged … from News – Insurance Journal https://ift.tt/3wXyCrH

People Moves: Accelerant Taps Data Scientist

Accelerant, an insurtech for underwriters who serve small and medium-sized businesses, has named Kenny Holms chief decision scientist. Holms will bring together data science, artificial intelligence, machine learning and actuarial experience to develop insurance solutions, the Georgia-based company said in … from News – Insurance Journal https://ift.tt/3x0Then

World Insurance Associates Acquires Massachusetts’ Pope Insurance Agency

World Insurance Associates LLC (WIA) acquired Pope Insurance Agency Inc. of Plainville, Massachusetts, on October 1, 2021. Terms of the transaction were not disclosed. Pope Insurance Agency Inc. is a multi-line insurance agency. It offers personal insurance for car, home … from News – Insurance Journal https://ift.tt/3FvTiK6

Risk Strategies Acquires Connecticut’s TriPoint Insurance

Risk Strategies, a national specialty insurance brokerage and risk management firm, acquired TriPoint Insurance Inc., a national specialist providing Performance Based Insurance (PBI) solutions to middle market companies in the construction, manufacturing, wholesale and skilled nursing verticals. TriPoint’s PBI solutions … from News – Insurance Journal https://ift.tt/3x3b6to

Jury Acquits 4 Coal Officials in Dust Collection Tampering Trial

A federal jury has cleared four former coal company officials who were accused of skirting dust rules in two underground Kentucky mines. The jury in U.S. District Court in Louisville deliberated Wednesday for about two hours before returning not guilty … from News – Insurance Journal https://ift.tt/3CuYA70

North Carolina Attorney General Sues E-Cig Makers

North Carolina Attorney General Josh Stein is suing the founders of an e-cigarette maker over his concerns that their product is being marketed to children through kid-friendly flavors and poor age verification. Stein announced at a news conference that he … from News – Insurance Journal https://ift.tt/3HyHTLD

Insurer Sues Florida Mom of Boys Killed by Husband

An insurance company is suing the mother of two boys killed by her estranged husband over a $4 million life insurance payout which claims she may not have been legally entitled to receive. Meanwhile, she is trying to collect $10 … from News – Insurance Journal https://ift.tt/3kNNpQQ

China’s Ant Group Reports 39% Rise in Profits on Investment Gains

Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for private enterprise. The company contributed 6.5 … from News – Insurance Journal https://ift.tt/3nr5O7x

Ex Be Wiser boss Mark Bower-Dyke launches consultancy firm

Bower-Dyke tells Insurance Age about his plans for the new venture and discusses why he believes there was a gap in the market for quality advice. from Insurer - insuranceage.co.uk https://ift.tt/3cn1RdR

Finance System Is Getting More Dangerous, Not Safer: Allianz CEO

FRANKFURT – Allianz Chief Executive Officer Oliver Baete said on Thursday that the financial world was getting more dangerous, not safer, setting an ominous tone for investors. Baete, who oversees one of the world’s largest insurers and asset managers, pointed … from News – Insurance Journal https://ift.tt/3FImn5x

Foley flags Axa transformation programme

Products and digitisation are key priorities for the retail CEO who joined the insurer in 2020. from Insurer - insuranceage.co.uk https://ift.tt/30CzPIz

News analysis: EVs set to rise within commercial motor

As customers go down the electric vehicle route, Insurance Age has asked industry experts to outline the impacts and challenges that EVs bring within the commercial space. from Insurer - insuranceage.co.uk https://ift.tt/3DApjR2

Houston Officials Choose Internal Review of Astroworld Festival Crush

Calls for an independent investigation into what led to 10 deaths at the Astroworld music festival went unheeded Monday, as Houston-area officials instead chose to direct a county administrator to conduct a review with other governmental entities. County Judge Lina … from News – Insurance Journal https://ift.tt/3Fm6bGI

Cleveland Guardians Settle Lawsuit with Roller Derby Team

The Cleveland Indians have resolved a lawsuit filed by a local roller derby team over rights to the name Guardians, the final hurdle for the Major League Baseball team to continue its changeover. The sides jointly announced an “amicable resolution” … from News – Insurance Journal https://ift.tt/30HYnQO

Judge Rules Kobe’s Widow Must Turn over Therapy Records in California Lawsuit

A judge has ruled that Kobe Bryant’s widow must turn over her therapy records to Los Angeles County in her lawsuit claiming she suffered emotional distress after first responders took and shared graphic photos from the site of the 2020 … from News – Insurance Journal https://ift.tt/3CrvTYD

Adjacent Condo Construction Triggered Surfside Collapse, Lawsuit Charges

A Miami lawsuit charges that a luxury condominium tower built just a few feet away from Champlain Towers South caused structural damage to the already ailing building in Surfside, leading to the collapse that killed 98 people in June. The … from News – Insurance Journal https://ift.tt/3wVLmiq

USI Opening San Diego Office to Expand Southern California Presence

USI Insurance Services opened of its first San Diego, California-based office. The new office at 4370 La Jolla Village Drive in San Diego’s University City neighborhood, opened on Monday, and it accommodates a team of local property/casualty and employee benefit … from News – Insurance Journal https://ift.tt/3kNGfMj

Eight Dead from COVID, 89 Infected at Connecticut Nursing Home

Eight residents of a nursing home in Connecticut have died during a coronavirus outbreak while 89 residents and employees have tested positive for the disease, nursing home officials say. The outbreak at the Geer Nursing and Rehabilitation Center in Canaan … from News – Insurance Journal https://ift.tt/30vPdXt

Massachusetts Gig Worker Ballot Measure Backers Submit Signatures

Backers of a measure that asks Massachusetts voters to treat drivers for app-based companies like Uber Technologies Inc and Lyft Inc as independent contractors rather than employees said on Tuesday they had gathered enough signatures to get it on the … from News – Insurance Journal https://ift.tt/3nnweXL

BKS Partners Enters Agreement to Acquire Construction Risk Partners

Baldwin Krystyn Sherman Partners LLC (BKS Partners) entered into an agreement to acquire all the outstanding equity interests of Construction Risk Partners LLC (CRP). The transaction is expected to close on or around December 1, 2021, subject to certain closing … from News – Insurance Journal https://ift.tt/3qMQSTh

Demex and Vave Offer Parametric Extreme Temperature Insurance in U.S.

A technology firm and a managing general agent are partnering to offer extreme temperature insurance to commercial properties across the United States. According to Vave, an algorithmic underwriting MGA, and The Demex Group, a climate risk analytics and technology firm, … from News – Insurance Journal https://ift.tt/3CpgdFd

Tesla Seeks Retrial, Cut in ‘Staggering’ $137M Award in Racial Bias Workplace Claim Case

Tesla has asked a federal court to reject what is calls a “staggering” $136.9 million jury award or order a new trial in a case involving an employee’s claim that the car maker did not do enough to protect him … from News – Insurance Journal https://ift.tt/3kMWc5r

Rise in Insurance Demand Likely to Break Premium Records in 2022: Swiss Re

Strong growth and record premiums are projected for the global insurance industry, as demand for risk protection increases, according to Swiss Re Institute’s latest sigma study. The global insurance market is set to exceed US$7 trillion in premiums for the … from News – Insurance Journal https://ift.tt/3FqMQUK

Allianz Becomes First Wholly Foreign-Owned Life Insurer in China

Allianz said on Wednesday that its Chinese life insurance business had received regulatory approval that will allow it to become the first wholly foreign-owned life insurer in China created from a joint venture. Many foreign financial institutions are looking to … from News – Insurance Journal https://ift.tt/3wSKMBS

FAA in Talks With Telecoms Over Aviation Safety Concerns of 5G Wireless

The Federal Aviation Administration said on Tuesday it is in direct talks with the telecom industry about its aviation safety concerns involving the planned use of spectrum for 5G wireless communications. “We are having very productive discussions and we will … from News – Insurance Journal https://ift.tt/3FooV8r

6th Circuit to Hear Consolidated Lawsuits Challenging Biden Workplace Vaccine Rule

A judicial panel on Tuesday consolidated 34 lawsuits challenging the Biden administration’s workplace COVID-19 vaccine rule in the 6th U.S. Circuit Court of Appeals, a venue favored by opponents of the rule. President Joe Biden announced plans for the vaccine … from News – Insurance Journal https://ift.tt/3nqVVad

Supreme Court Rejects VW Bid to Halt State, Local Emissions Scandal Suits

The Supreme Court on Monday turned away appeals from Volkswagen that sought to stop state and local lawsuits related to the 2015 scandal in which the automaker was found to have rigged its vehicles to cheat U.S. diesel emissions tests. … from News – Insurance Journal https://ift.tt/3Dr9Gew

Lexington’s Levinson on Why E&S Is More Relevant Now Than Ever

When Lou Levinson became president and CEO of Lexington Insurance in late 2018, he knew the company needed a change. He believed that Lexington should be a wholesale focused distribution channel and that the company should remain focused and disciplined … from News – Insurance Journal https://ift.tt/3CBvmU9

South Africa Sued Over Plans to Construct New Coal-Fired Power Plants

South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new coal-fired power plants. Plans for the construction of 1,500 megawatts of coal-fired generation capacity are included in the … from News – Insurance Journal https://ift.tt/3nnTXXZ

CII warns on social media use

The body has developed a guide on using platforms such as Twitter and Facebook in a professional manner. from Insurer - insuranceage.co.uk https://ift.tt/3wW1Kzt

‘Storm of Century’ Halts Traffic at Canada’s Biggest Port, Adding to Supply Chain Woes

Traffic at Canada’s largest port has been cut off by what local officials are calling the storm of the century, the latest snag to hit the North American supply chain. Days of torrential rain have pelted British Columbia, triggering floods … from News – Insurance Journal https://ift.tt/3wSmoR7

People Moves: Sompo Names QBE’s Reid Head of Casualty Int’l; AXA XL Promotes Shing to Lead U/W Mgmt, UK & Lloyd’s; Jensten’s Siggery to Oneglobal for Risk & Compliance

This edition of International People Moves covers appointments at Sompo International, AXA XL and OneGlobal Broking. A summary of these new hires follows here. Sompo Int’l Appoints QBE’s Reid as Head of Casualty, International Insurance Sompo International Holdings Ltd., a … from News – Insurance Journal https://ift.tt/3FmXbkx

Insurance Cares: QBE cyber expert develops suicide prevention tool

Alice Hendy developed the Ripple browser extension following the loss of her brother last year. from Insurer - insuranceage.co.uk https://ift.tt/2YTGr4W

Smithfield to pay $13,494 Over Coronavirus Hazards at South Dakota Facility

Smithfield Packaged Meats Corp. – the country’s largest pork processor – has agreed to assemble a team of company and third-party experts to develop an infectious disease preparedness plan that the company will implement at all of its processing facilities … from News – Insurance Journal https://ift.tt/3oECB8y

Man Charged With Arson in Austin Synagogue Fire

An 18-year-old man has been arrested and charged with arson for a fire at an Austin synagogue, officials said. Franklin Barrett Sechriest was held on a $100,000 bond for the Oct. 31 fire at Congregation Beth Israel, KVUE-TV in Austin … from News – Insurance Journal https://ift.tt/321GnRP

Michigan Governor: Drivers to See More Savings Under Auto Insurance Reform Law

Michigan Gov. Gretchen Whitmer announced that drivers should save on average between 25-62% on the PIP medical portion of their auto policies compared to the previous year. The lower premiums continue a trend of declining rates from Michigan’s new auto … from News – Insurance Journal https://ift.tt/3ciDfmz

Georgia Man Wanted for Submitting Fake Police Report on Insurance Claim

Georgia authorities are on the lookout for a man who they say submitted false insurance claims for $42,000 in personal property that was never stolen. Arrest warrants have been issued for Tyrone Bernard Briscoe, 35, of Atlanta, for one count … from News – Insurance Journal https://ift.tt/3DpM7CC

Brown & Brown Acquires Another Agency in Florida

Brown & Brown, a national insurance brokerage firm, has acquired Heacock Insurance, a fifth-generation agency based in Central Florida. Heacock was founded in 1922 and has offices in Lakeland and Sebring. The Heacock team will continue to operate from agency … from News – Insurance Journal https://ift.tt/30s8s4a

People Moves: Barner, Johnson to Builders

Builders Insurance Group, an Atlanta-based provider of workers’ compensation, liability and property insurance for businesses, has announced two new executives. Antonio Barner was named chief operating officer and senior vice president of strategy. Brent Johnson is the new vice president … from News – Insurance Journal https://ift.tt/3wTFF4l

Working From Home Could Hurt Women’s Careers: Bank of England’s Mann

Women who work mostly from home risk seeing their careers suffer now that significant numbers of workers are returning to the office after the COVID-19 pandemic, Bank of England policymaker Catherine Mann said on [Nov. 11]. Mann, a member of … from News – Insurance Journal https://ift.tt/3FjNG5M

9-Year-Old Boy Dies From Astroworld Festival Crush

A 9-year-old Dallas boy has become the youngest person to die from injuries sustained during a crowd surge at the Astroworld music festival in Houston. Ezra Blount of Dallas died Sunday at Texas Children’s Hospital in Houston, family attorney Ben … from News – Insurance Journal https://ift.tt/3ClwkUm

SullivanCurtisMonroe Acquires Stan Burns in California

SullivanCurtisMonroe acquired Stan Burns Insurance Services in Long Beach, California. Terms of the deal were not disclosed. Stan Burns specializes in commercial, personal, employee benefits and life insurance. Irvine, California-based SCM is a locally managed insurance brokerage firm and offers … from News – Insurance Journal https://ift.tt/3wRcgYI

Former Coach, ESPN Commentator Gruden Sues NFL Over Leak of Emails

Former Las Vegas Raiders coach Jon Gruden has sued Commissioner Roger Goodell and the National Football League, alleging that a “malicious and orchestrated campaign” was used to destroy Gruden’s career by leaking old emails he had sent that included racist, … from News – Insurance Journal https://ift.tt/3njAR57

Want Wearable Tech With That Workers’ Comp Policy? Kinetic Teams With Nationwide.

New York-based safety technology firm Kinetic has formed an underwriting partnership with Nationwide’s E&S/Specialty division. Acting as program manager, Kinetic Insurance is offering workers’ compensation coverage combined with workplace safety technology. The Kinetic workers’ compensation offering equips policyholders with wearable … from News – Insurance Journal https://ift.tt/3kFmLJC

Canadian Storms Force Shut Down of Trans Mountain Oil Pipeline

OTTAWA/CALGARY, Alberta – Canada’s Trans Mountain oil pipeline has been shut down temporarily because of rainstorms pounding parts of the province of British Columbia, the operating company said in a statement on Monday. The Canadian government-owned pipeline ships 300,000 barrels … from News – Insurance Journal https://ift.tt/3Fg4Hh8

People Moves: New Hires at XPT, InsurBanc, Distinguished Programs

XPT Hires Bewick as Senior Vice President in Massachusetts XPT, a national specialty insurance wholesale distribution company, hired industry veteran Gordon Bewick as senior vice president. He will be based in Boston, Massachusetts. Bewick’s experience combined with the support of … from News – Insurance Journal https://ift.tt/3qEOrCo

Swiss Re CEO Mumenthaler Appointed Chairman of Geneva Association

The Geneva Association announced that Christian Mumenthaler, CEO of Swiss Re, was appointed the new chairman of the organization. Mumenthaler, who has been vice chairman since November 2019, succeeds outgoing Chairman Charles Brindamour, CEO of Intact Financial, who remains on … from News – Insurance Journal https://ift.tt/3cf8Llm

Liberty University Responds to Ex-Spokesman’s Suit, Seeks Gag Order

Liberty University is responding to a former spokesman’s lawsuit alleging he was fired in retaliation for raising concerns about the handling of sexual misconduct accusations. The evangelical Virginia school filed its responses to Scott Lamb’s suit last week, seeking more … from News – Insurance Journal https://ift.tt/3kGZlUo

Rochester Mayor Declares Emergency Amid Gun Violence Spike

Police in Rochester, New York, are investigating a string of fatal shootings that came just hours after Mayor Lovely Warren declared a local state of emergency to combat rising gun violence. The recent killings, including three within a 12-hour period, … from News – Insurance Journal https://ift.tt/3DoODcj

Rare November Tornadoes Hit Connecticut, Rhode Island

Three tornadoes that hit Rhode Island and southeast Connecticut this weekend were the first since at least 1950 to strike the area in November, the National Weather Service said Sunday. The service confirmed the three tornadoes touched down Saturday evening. … from News – Insurance Journal https://ift.tt/3CqBrlT

People Moves: WTW Names Aon’s Wegbrans as Head of Broking; EmergIn Risk Hires Occam’s Paraskeva; Aon’s Norris to Gallagher Re as Cyber ILS Broker

This edition of International People Moves details appointments at Willis Towers Watson; Ryan Specialty’s MGU, EmergIn Risk; and Gallagher Re. A summary of these new hires follows here. WTW Names Aon’s Wegbrans as Global Head of Broking Insurance broker Willis … from News – Insurance Journal https://ift.tt/3oF0ptg

People Moves: 15-19 November 2021

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

Aviva CEO joins The Geneva Association board

Amanda Blanc is set to join the organisation as Christian Mumenthaler, CEO of Swiss Re, gets appointed as its new chairman. from Insurer - insuranceage.co.uk https://ift.tt/3ClSlCf

Shipowners Make Payments to Free Vessels Detained by Indonesian Navy: Sources

SINGAPORE – More than a dozen shipowners have made payments of about $300,000 apiece to release vessels detained by the Indonesian navy, which said they were anchored illegally in Indonesian waters near Singapore, according to sources with direct knowledge of … from News – Insurance Journal https://ift.tt/3FocnhE

Markel Corp. Puts Retrocessional ILS Fund Manager Into Run-Off

Markel Corp. announced it is winding down Lodgepine Capital Management Ltd., its retrocessional insurance linked securities (ILS) fund manager, based in Bermuda. Markel launched Lodgepine in 2019, with product offerings focused on property catastrophe retrocessional investments. In 2021, Lodgepine wrote … from News – Insurance Journal https://ift.tt/3FiMbEW

Louisiana’s Citizens Increasing Commercial Coverage Limits

Louisiana’s property of last resort will raise commercial property insurance coverage limits for the first time in eight years. The Board of Directors of the Louisiana Citizens Property Insurance Corp. has voted to increase the amount of commercial property insurance … from News – Insurance Journal https://ift.tt/3ouAkwD

Marguerite Dixen Forms MGA Focused on Workers’ Comp

Marguerite Dixen, a veteran insurance executive and entrepreneur, has established Adroit General Agency, a managing general agency providing workers’ compensation insurance along with a full range of technology-driven safety, loss prevention and claims management solutions for employers vulnerable to high-severity … from News – Insurance Journal https://ift.tt/3cgRyIq

Insurance Technology: Agents and Multi-Factor Authentication; TA Invests in Insurity Again; GCube Touts AI in Renewable Energy

ID Federation Offers Multi-Factor Authentication Resource for Agencies Insurance carriers and their agency partners face a “gathering storm” of confusing requirements and changes in the area of multi-factor authentication (MFA) to improve secure logons, according to ID Federation, the nonprofit … from News – Insurance Journal https://ift.tt/3wNe3xX

People Moves: Allianz Global Corporate & Specialty Appoints 5 to Leadership Team

Allianz Global Corporate & Specialty SE (AGCS) announced it is strengthening its leadership team, hiring internal and external talent for executive positions in its regional management, underwriting and risk consulting functions, all market-facing roles. Alfredo Alonso who currently leads AGCS’ … from News – Insurance Journal https://ift.tt/3nijeTB

GenX Chemical from Chemours Plant Not Found in Blood, But Other Compounds Present

A potentially dangerous compound linked to a chemical plant in North Carolina was not found in the bloodstreams of nearby residents, but high levels of similar chemicals were detected, according to a recent study funded by the National Institutes of … from News – Insurance Journal https://ift.tt/3Dm3NPw

Blog: Counting the cost of liability claims

The pandemic combined with Brexit is inflating the cost of liability claims, says Mark Merrix of Allianz. from Insurer - insuranceage.co.uk https://ift.tt/3HnlGju

Florida OIR Approves 4.9% Comp Rate Cut; NCCI Drops Cat Fund Idea

Florida Insurance Commissioner David Altmaier has approved a 4.9% average decrease in workers’ compensation rates for 2022, as recommended by the National Council on Compensation Insurance. The decrease is the sixth straight for Florida, and for the first time in … from News – Insurance Journal https://ift.tt/3HrhEGM

Insured Severe Weather Losses in U.S. Already Top $20B for 2021

Annual U.S. severe weather insured losses for 2021 have surpassed $20 billion after a rough October, even before the year is complete, according to a new Aon report. Multi-billion-dollar natural catastrophe-related insurance losses in the U.S. were caused in part … from News – Insurance Journal https://ift.tt/3FltujN

New York Issues Final Guidance to Insurers on Managing Risks of Climate Change

The New York State Department of Financial Services (DFS) has issued final guidance to New York-regulated domestic insurers regarding their management of the financial risks from climate change. After issuing a proposed version of the guidance in March, DFS received … from News – Insurance Journal https://ift.tt/3oz3Bqb

U.S. Severe Weather Insured Losses Surpassed $20B After Rough October: Aon

Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report. “October is typically considered a ‘second season’ for severe weather in … from News – Insurance Journal https://ift.tt/3wNrNc0

AM Best Upgrades Credit Ratings of Selective Insurance Group, Subsidiaries

AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” (superior) from “a+” (excellent) of the pooled members of Selective Insurance Group. Additionally, AM Best … from News – Insurance Journal https://ift.tt/3kFhJgf

Vermont Company to Pay $34M in Chemical Contamination Lawsuit

A chemical company has agreed to pay $34 million to compensate residents of a Vermont town for chemical contamination in groundwater and soil. The ChemFab plant in Bennington, owned by Saint-Gobain Performance Plastics, used industrial chemicals that spread throughout the … from News – Insurance Journal https://ift.tt/31TzLF2

Aston Lark Continues Buying Spree With Purchase of UK Broker Philip Williams & Co.

Aston Lark, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced the acquisition of Philp Williams & Co. as the latest addition to the group. Philip Williams & Co. was established in … from News – Insurance Journal https://ift.tt/3qF7oVm

Commercial Auto Insurers Improved Results in 2020: AM Best

The U.S. commercial auto insurance market turned in results for 2020 that were the best it has seen in several years, although it still did not achieve an underwriting profit. Despite several years of price increases and corrective underwriting actions, … from News – Insurance Journal https://ift.tt/3qEgyBv

Auto Safety Regulators Looking into Complaint from Michigan Tesla Driver

U.S. auto safety regulators are looking into a complaint from a Tesla driver that the company’s “Full Self-Driving” software caused a crash. The driver was beta testing the “Full Self-Driving” software, and the Tesla SUV went into the wrong lane … from News – Insurance Journal https://ift.tt/3wMgK2T

USI Acquires Washington-Based Griffin MacLean

USI Insurance Services has acquired Bellevue, Washington-based Griffin MacLean Insurance Brokers. Founded in 1981, Griffin MacLean is an independent insurance brokerage operation serving businesses and individuals throughout Washington and Alaska. Terms of the transaction were not disclosed. USI is one … from News – Insurance Journal https://ift.tt/3qCkp2b

Alera Group Acquires California’s McSherry & Hudson Insurance Services

Alera Group, an independent, national insurance and wealth management firm, has acquired McSherry & Hudson Insurance Services, an independent, full-service insurance brokerage firm offering property and casualty, industry-specific risk management, surety, loss control, claims and employee benefits. Terms of the … from News – Insurance Journal https://ift.tt/3kDLxd4

CVS, Walgreens, Walmart to Make Closing Arguments in Ohio Opioid Trial

A jury is set to hear closing arguments on Monday in a trial in federal court in Cleveland focused on claims by two counties in Ohio that three major retail pharmacy chains – CVS, Walgreens and Walmart – fueled the … from News – Insurance Journal https://ift.tt/30wJ3X9

Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses

All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related claims, strong premium growth and resilient investment … from News – Insurance Journal https://ift.tt/3F92Fzs

COP26 Climate Agreement Targets Fossil Fuels as Key Driver of Global Warming

GLASGOW – U.N. climate talks ended Saturday with a deal that for the first time targeted fossil fuels as the key driver of global warming, even as coal-reliant countries lobbed last-minute objections. While the agreement won applause for keeping alive … from News – Insurance Journal https://ift.tt/3kDBiFQ

Louisiana Apartment Complex Still Reeling From Laura Damaged by Tornado

Rising after a hard knock can be wrenching, but for Claudette Price _ who has just endured her fourth punch _ accepting defeat is not an option. In the three years she has been the leasing manager for the Claire … from News – Insurance Journal https://ift.tt/3DludkK

Insurers to Hike Private Market Investments; Environmental Focus Grows: BlackRock

GLASGOW / NEW YORK – Insurers plan to increase their allocations to private markets to 14% from 11% over the next two years in the hunt for yield, as they add more money to environmentally focused investment funds, BlackRock Inc … from News – Insurance Journal https://ift.tt/30wQE8j

Berkshire Hathaway General Reinsurance Unit Launches Mideast Office in Dubai

DUBAI — The General Reinsurance unit of Warren Buffett’s Berkshire Hathaway Inc has set up a Middle East office in Dubai, Dubai International Financial Centre (DIFC) said on Monday. Gen Re will provide life and health reinsurance services across the … from News – Insurance Journal https://ift.tt/3cj8f5H

Paytm’s IPO Oversubscribed but Doesn’t See Blow-out Demand From Investors

BENGALURU – Paytm’s $2.5 billion initial public offering (IPO), India’s largest, was oversubscribed at the close of bidding on Wednesday, although investors showed less enthusiasm than for some other tech firms that have ridden the country’s IPO boom. The company, … from News – Insurance Journal https://ift.tt/3wONFny

Louisiana Seeks Takeover of Pair of Regional Insurance Companies Facing Insolvency

The Louisiana insurance commissioner is seeking a government takeover of Access Home Insurance Co. and State National Fire Insurance Co., two regional insurance companies that are facing insolvency due to losses from Hurricane Ida to ensure the company’s policyholders are … from News – Insurance Journal https://ift.tt/3caD9gG

Insolvency Pool Can’t Yet Seek Reimbursement from Injured Worker

The Georgia Insurers Insolvency Pool’s demand for a refund from an injured worker must first be addressed by the state workers’ compensation board, the Georgia Court of Appeals has decided. The comp board should now decide if Victoria Palmer, who … from News – Insurance Journal https://ift.tt/3HkbWGJ

Time Limit and Gap in Comp Benefits Not Unconstitutional, Florida Court Says

What happens when a worker’s injury needs follow-up surgery many years later, requiring the employee to miss months of paychecks? In Florida, he’s probably out luck if he’s hoping for workers’ compensation wage-loss benefits. But the law that created that … from News – Insurance Journal https://ift.tt/3wUiAPi

People Moves: Monarch E&S Promotes Borisoff in California; WSS Names Bernstein Senior Vice President

Monarch E&S Insurance Services, a division of Specialty Program Group/SPG Insurance Solutions in California, promoted Devon Borisoff to vice president, commercial lines leader of Monarch E&S’ West Coast operation. Borisoff has more than a decade of insurance experience. Monarch E&S … from News – Insurance Journal https://ift.tt/3kDg3E6

From Baby Powder to Implants: J&J’s Biggest Legal Liabilities As It Prepares to Split

Johnson & Johnson on Friday said it would split into two companies , hiving off its consumer health division that sells Band-Aids and Baby Powder from its pharmaceuticals and medical devices business. The separate companies will have to divide up … from News – Insurance Journal https://ift.tt/3Hloi1i

Former Governor Focuses on Saving California Forests from Wildfires

As smoke lingered in the air amid another destructive California wildfire season, former Gov. Jerry Brown invited a group to his ranch for an urgent conversation: What more could be done to save California’s forests from wildfires? The reality of … from News – Insurance Journal https://ift.tt/3Cgy94R

Pinnacol in Colorado to Decrease Workers’ Comp Rates in 2022

Pinnacol Assurance in Colorado announced it will lower rates for the carrier’s 53,000-plus policyholders in Colorado by an average of 11% in 2022. The decrease will become effective Jan. 1, 2022. Pinnacol has decreased rates for seven consecutive years for … from News – Insurance Journal https://ift.tt/3qD90Pv

Federal Court Continues Stay on OSHA’s COVID Vaccine/Test Mandate on Businesses

A federal court declined Friday to lift its stay on the Biden administration’s vaccine mandate for businesses with 100 or more workers. The New Orleans-based 5th U.S. Circuit Court of Appeals granted an emergency stay last Saturday of the requirement … from News – Insurance Journal https://ift.tt/3Hf6iWi

Insurtech Funding On Track for New Record After Hitting $5.3B in Q3

Insurtechs continue to attract significant investor cash, pulling in a near-record $5.3 billion for the 2021 third quarter, representing a total of 472 deals. U.S. companies nailed down most of the cash, according to a Forrester report. Approximately 70% of … from News – Insurance Journal https://ift.tt/3ksZASH

Lead Found in Paint Chips After Indiana House Fire

Testing has detected lead in most of the paint chips that fell to the ground in southern Indiana when a house was burned for a firefighter training exercise, an Indiana University professor says. Gabriel Filippelli, a biogeochemist who is director … from News – Insurance Journal https://ift.tt/3Fe0YR4

People Moves: Markel, Security First, Epic, Somers

Girard to Head Markel’s Southeast Region Markel Corp. has named Steve Girard regional president for the Southeast for Markel Specialty, the company announced. Girard replaces Nick Abraham, who left Markel for another opportunity, according to a news release. Prior to … from News – Insurance Journal https://ift.tt/3F5ixmk

Zurich American Acquires Texas-Based Special Insurance Services

Zurich American Insurance Company, a provider of insurance products and services to businesses in multiple industries, has signed an agreement to acquire Special Insurance Services, Inc., a Texas-based program manager whose offerings include gap medical and occupational accident insurance products. … from News – Insurance Journal https://ift.tt/3qBiivp

Aston Lark Acquires UK-Based Innovation Broking

Aston Lark Group, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced it has acquired Innovation Broking. Financial details of the deal were not disclosed. Established in 2015, Innovation Broking is an … from News – Insurance Journal https://ift.tt/3qy5JBa

Connecticut Aircraft Parts Manufacturer Cited for Workplace Safety Violations

A Connecticut aircraft parts manufacturer did not take required steps to identify potential exposures and protect employees from hexavalent chromium and cadmium – both known carcinogens – at its Bloomfield facility, a U.S. Department of Labor workplace safety inspection found. … from News – Insurance Journal https://ift.tt/30hK9pc

The Pittsburgh Penguins Settle Suit Over Ex-Minors Coach Accused of Assault

The Pittsburgh Penguins have settled a federal lawsuit filed by a former minor league assistant and his wife, who accused the team of negligently retaining a coach who sexually assaulted and harassed her and then retaliating against him for reporting … from News – Insurance Journal https://ift.tt/3qBarOr

Insuring Cannabis Summit: Too Many Cannabis Operators View Coverage as Compliance Check Box

This is part of a series of articles from Insurance Journal’s annual Insuring Cannabis Summit on Oct. 14. You can find more articles from the summit at the bottom of this one. One big reason carriers aren’t offering a broad … from News – Insurance Journal https://ift.tt/3C8fKa7

California Preparing for Possible Winter Pandemic Surge

California has begun positioning equipment and locking in contracts with temporary health care workers in preparation for another possible winter surge of coronavirus cases, Gov. Gavin Newsom said. The most populous state in the country still is doing comparatively well … from News – Insurance Journal https://ift.tt/3oFSrA7

Roadkill Report Names California’s Deadliest Highways, Costs

Tens of thousands of mountain lions, bears, bighorn sheep, squirrels, birds and lizards have met their fate in collisions with vehicles across California, according to a “roadkill” report that names a San Francisco Bay Area highway as the state’s deadliest … from News – Insurance Journal https://ift.tt/3FaaEfv

Three Plead Guilty in Health Care Scam Involving Orthotic Braces

Two New Jersey men and a Florida man pleaded guilty to running a health care fraud scheme involving orthotic braces. Nicholas Defonte, 73, and Christopher Cirri, 63, both of Toms River, New Jersey, and Pat Truglia, 53, of Parkland, Florida, … from News – Insurance Journal https://ift.tt/3qFaZ5M

‘Rust’ Crew Member Sues Alec Baldwin, Others in California over Shooting

The head of lighting on the film “Rust” filed a lawsuit Wednesday over Alec Baldwin’s fatal shooting of cinematographer Halyna Hutchins on the New Mexico set of the Western, alleging negligence that caused him “severe emotional distress” that will haunt … from News – Insurance Journal https://ift.tt/2YEcbuH

Boeing Reaches Compensation Terms With Victims of Ethiopian Airlines Crash

Boeing Co. agreed on Wednesday to acknowledge liability for compensatory damages in lawsuits filed by families of the 157 people killed in the 2019 Ethiopian Airlines 737 MAX crash, according to a filing in U.S. District Court in Chicago. As … from News – Insurance Journal https://ift.tt/3omjeRC

Draft COP26 Climate Deal Aims to Balance Demands of Developing and Richer Nations

GLASGOW – A new draft agreement for the U.N. climate conference in Glasgow on Friday presses countries to be more ambitious in their plans to tackle global warming, while walking a fine line between the demands of developing and richer … from News – Insurance Journal https://ift.tt/31XdRAX

People Moves: Chubb Promotes Walker to Head of Aerospace; Fidelis Names Stewart, Davern as Co-Deputy CUOs, Bellamy as Head of Property Reinsurance

This edition of International People Moves details promotions at the insurers Chubb and Fidelis Insurance. A summary of these new hires follows here. Chubb Promotes Walker to Head of Aerospace Chubb announced the promotion of Emma Walker as head of … from News – Insurance Journal https://ift.tt/3F8pFyv

KPMG Sued for $600M Over Role in Insolvency of Dubai Private Equity Firm Abraaj

KPMG LLP was sued for at least $600 million over its role in the insolvency of Dubai private-equity firm Abraaj Group, the latest in a string of complaints of sloppy auditing made against the Big Four firm. The claimants, two … from News – Insurance Journal https://ift.tt/3n5CwLI

Allianz creates chief analytics officer role

Chris Varley is set to join the insurer from Willis Towers Watson next year. from Insurer - insuranceage.co.uk https://ift.tt/3C9BwdP

NFP Acquires Western Canada’s Foster Park Brokers Inc.

NFP, the New York City-based insurance broker and consultant, announced the acquisition of Canada’s Foster Park Brokers Inc. Details of the transaction, which closed on Nov. 1, 2021, were not disclosed. Foster Park is one of Western Canada’s largest independent … from News – Insurance Journal https://ift.tt/3C52zqt

Berkshire Hathaway Specialty Insurance Opens Third Office in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded in Germany, opening a new office in Frankfurt. The company already has offices in Cologne and Munich. “BHSI is committed to building long-term relationships by providing sustainable technical underwriting solutions and … from News – Insurance Journal https://ift.tt/3qwNYCb

Hannover Re Sells Stake in HDI Global Specialty to Position Itself as Pure Reinsurer

Hannover Re is selling its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE, effective Dec. 31, 2021. HDI Global SE will then hold 100% of the shares. Financial details of the … from News – Insurance Journal https://ift.tt/3wJ5iov

Chinese Insurer Ping An Plans to Sell $2.1B Stake in Autohome: Sources

HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently the biggest shareholder of … from News – Insurance Journal https://ift.tt/30dFG76

Shipping Firms in Crosshairs as Investors, Insurers Shun Coal

Shipping companies that transport the world’s coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel. In a sign … from News – Insurance Journal https://ift.tt/3CbP4FD

Astroworld Festival Death Tolls Rises to 9

A Texas A&M University student critically injured in the Astroworld music festival has died, making her the ninth person to die from a crowd surge that crushed people so tightly they couldn’t breathe. Bharti Shahani, a 22-year-old, died Wednesday, Nov. … from News – Insurance Journal https://ift.tt/2YD9MAs

Judge Approves $625 Million Settlement in Flint, Michigan Water Litigation

A judge approved a $626 million deal to settle lawsuits filed by Flint residents who found their tap water contaminated by lead following disastrous decisions to switch the city’s water source and a failure to swiftly acknowledge the problem. Most … from News – Insurance Journal https://ift.tt/3C3654M

Insurers for Stores in High Crime Areas on Notice after Georgia Appeals Court Affirms $43 Million Verdict

A Georgia appeals court has upheld a $43 million premises liability verdict against the CVS Pharmacy chain, ruling that the company failed to take security measures to prevent the shooting of a patron in 2012. The case is the latest … from News – Insurance Journal https://ift.tt/3n84Fld

Risky Business: Climate Change Turns Up Heat on Insurers, Policyholders

Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home … from News – Insurance Journal https://ift.tt/3C70RF9

Pork Plants Allowed to Operate Faster in Trial Program

The U.S. Department of Agriculture said on Wednesday that nine pork plants can apply to operate faster processing-line speeds under a one-year trial, after a federal judge in March struck down a Trump-era rule that removed line speed limits. Faster … from News – Insurance Journal https://ift.tt/3c75HrA

Westfield Insurance to Buy Argo’s U.S. Specialty Property Renewal Rights

Specialty insurer Argo Group International Holdings has agreed to sell the renewal rights of its U.S. specialty property business to Westfield Insurance of Ohio. This transaction includes Argo’s shared and layered property business, which underwrites catastrophic-focused excess and surplus property … from News – Insurance Journal https://ift.tt/3wC63Q8

A Look at Military Veterans’ Earnings, Employment After Active-Duty Service

New research from RAND Corp. finds that after leaving the service, many veterans earn less money than they did while in active duty. The report, Navigating a Big Transition: Military Service Members’ Earnings and Employment After Active-Duty Service, uses data … from News – Insurance Journal https://ift.tt/3qpZDTi

Broker Expo: How to tackle PI

Panelists shared their views on increased regulation, getting adequate cover, and the difficulties and future for the PI sector. from Insurer - insuranceage.co.uk https://ift.tt/3C88vPJ

Broker Expo: How can the industry solve its reputation problem?

Broker Expo’s panel discussion on the evolution of reputation management shed light on the issues that led to the BI test case and asked how brokers and insurers can improve their service. from Insurer - insuranceage.co.uk https://ift.tt/3qp324N

Broker Expo 2021 – Takes place today

One of the first live events since coronavirus hit sees more than 1,200 brokers meeting at the Coventry Building Society Arena. from Insurer - insuranceage.co.uk https://ift.tt/3omVyN5

Regulatory framework review draws mixed reactions from trade bodies

Mixed responses from trade bodies as the government sets out proposals for adapting the UK regulatory framework for financial services post-Brexit. from Insurer - insuranceage.co.uk https://ift.tt/3Da7qZ4

Coalition Enters Executive Risk Insurance Market for Small Business

Coalition has launched new executive risks insurance products for small and midsize businesses. The directors and officers (D&O) and employment practices liability (EPL) coverages are underwritten by Zurich North America. Coalition says its broker platform integrates real-time financial, regulatory, and … from News – Insurance Journal https://ift.tt/3wzkV1Q

TypTap Moves Ahead with IPO, $100 Million Fundraising

TypTap, which describes itself as a technology-driven homeowners’ insurance company in Florida, is moving ahead with plans to raise $100 million for an initial public stock offering. The Tampa-based company, a subsidiary of publicly traded HCI Group, said it had … from News – Insurance Journal https://ift.tt/2YzQlbV

Venbrook Acquires Georgia E&S MGA

Venbrook Group, an independent insurance distribution and services firm, has acquired Alpharetta Underwriters, a specialty managing general agent that offers excess and surplus coverage for the construction industry. Alpharetta Underwriters is based in Atlanta, and has years of experience in … from News – Insurance Journal https://ift.tt/3qmdJoN

Ye’s Yeezy Paying $950K to Settle California Slow-Shipping Lawsuit

Rapper and fashion mogul Ye’s high-end clothing company Yeezy agreed to pay $950,000 to settle a lawsuit brought by four California district attorneys over slow shipping to customers. The suit brought last month by the district attorneys of Los Angeles, … from News – Insurance Journal https://ift.tt/3n1kVV2

Parents in California Sue After Getting Another Couple’s Embryo

Two California couples gave birth to each others’ babies after a mix-up at a fertility clinic and spent months raising children that weren’t theirs before swapping the infants, according to a lawsuit filed in Los Angeles. Daphna Cardinale said she … from News – Insurance Journal https://ift.tt/3D6SGKh

California Remembers 3rd Anniversary of Wildfire That Killed 85, Destroyed Thousands of Homes

Gov. Gavin Newsom on Monday marked the third anniversary of California’s deadliest and most destructive wildfire by announcing that nearly 100,000 damaged trees have been removed and debris cleaned up from some 11,000 properties. The Camp Fire that erupted on … from News – Insurance Journal https://ift.tt/3D2Svj6

P/C Insurers Turn In Solid First Half Performance

U.S. property/casualty insurers saw their net income jump to $37.5 billion in the 2021 first half, up from $24.3 billion the year before, as the country continued to recover from COVID-19’s economic disruption,. According to a report from the American … from News – Insurance Journal https://ift.tt/3c1mzzI

North Carolina DOI Reaches Settlement on Mobile Home Rate Hikes

The North Carolina Department of Insurance has settled a months-long disagreement with the state’s rating bureau on mobile home insurance rates, resulting in an increase that’s about half of what insurers had wanted. Insurance Commissioner Mike Causey announced this week … from News – Insurance Journal https://ift.tt/3DaSxWs

Houston Concert Tragedy Follows Other Major Crowd Disasters Around the World

Fans at a Houston music festival surged toward the stage during a performance by rapper Travis Scott, triggering panic in the crowd and leaving at least eight people dead and many more injured, authorities said. Here’s a look at some … from News – Insurance Journal https://ift.tt/3n1wXOj

Massachusetts Study Finds Fatal Opioid Overdoses Rose Among Workers

Fatal opioid overdoses nearly doubled in recent years among Massachusetts workers, with the construction, farming and fishing industries among the hardest hit sectors, according to an updated study from the state Department of Public Health released Monday. The new state … from News – Insurance Journal https://ift.tt/3Hb3dqo

$2M in Damage from Oceanfront Home Fire in Delaware

A fire heavily damaged an oceanfront home in Bethany Beach, Delaware, over the weekend, according to fire investigators. Flames were engulfing the home on Seaside Drive as firefighters arrived around 11:30 p.m. Saturday, the Delaware Office of the State Fire … from News – Insurance Journal https://ift.tt/3H6Zwln

State of Vermont Revokes Quarry Owner’s Explosives License

The owner of a Castleton, Vermont, quarry has had his explosives license revoked after blasting this summer ejected rocks onto adjacent properties, risking public safety, the Vermont Department of Public Safety said Monday. An investigation by the department, police and … from News – Insurance Journal https://ift.tt/3H7MdBe

Auto Safety Whistleblower Receives Maximum Award of $24 Million

The U.S. auto safety regulator announced on Tuesday its first-ever reward to a whistleblower, handing out more than $24 million to a former Hyundai Motor Co. employee who provided key information about safety lapses at the South Korean carmaker. The … from News – Insurance Journal https://ift.tt/3n1UQFp

ABI names director general

Hannah Gurga will replace Huw Evans in 2022 as former MP Nicky Morgan is revealed as independent chair. from Insurer - insuranceage.co.uk https://ift.tt/30bvvjY

Oklahoma Ruling in Opioid Marketing Case a Setback for States Arguing Public Nuisance

The Oklahoma Supreme Court on Tuesday overturned a $465 million judgment against Johnson & Johnson in a lawsuit by the state alleging the drugmaker fueled the opioid epidemic through the deceptive marketing of painkillers. The decision marked the latest setback … from News – Insurance Journal https://ift.tt/3n1dkG8

Experts Say Cyber Risks Present ‘Significant’ Threat for Small Businesses

The idea that cyber criminals only target large companies with a wide footprint and more assets is “profoundly wrong,” experts say, as cyber attacks are becoming a growing threat for small and medium-sized firms. “A lot of them think, ‘Well, … from News – Insurance Journal https://ift.tt/3D6sZtj

Google Data Privacy Suit Dismissed After Top UK Court Rules Against Class Action

Google won its bid to dismiss a data privacy lawsuit filed on behalf of millions of iPhone users, after the UK’s top court said the tech giant couldn’t be served with a class action suit. The case, which sought billions … from News – Insurance Journal https://ift.tt/3C0vFr5

Lloyd’s Broker MNK Re Launches Specialty Wholesale and Retail Unit

MNK Re Ltd., the London-headquartered Lloyd’s specialist broker, is launching MNK Re UK Specialty Ltd., to focus on UK wholesale and retail business. This new business will build out a wider category of risk solutions, providing an enhanced offer to … from News – Insurance Journal https://ift.tt/2YwavTZ

ICEYE, McKenzie Intelligence Form Partnership Offering Enhanced Flood Hazard Analysis

ICEYE, a provider of persistent monitoring with radar satellite imaging and flood hazard data, announced an agreement with McKenzie Intelligence Services (MIS) to provide flood hazard analysis before, during and after large-scale flood events. The ICEYE analysis will support MIS … from News – Insurance Journal https://ift.tt/3n1rtTR

Sabre expands into motorcycle insurance with MCE underwriting deal

Sabre takes over as MCE states it stopped placing new business and renewals with its own Gibraltar-based insurance arm, MCE Insurance Company, on 5 November. from Insurer - insuranceage.co.uk https://ift.tt/3H7akQw

Insurtech Arbol Launches Bermuda MGU, Focusing on Parametric Reinsurance

Arbol Inc., a New York City-based insurtech platform for parametric protection products, announced the launch of Arbol Underwriters Ltd. (AUL), a registered insurance agent based in Bermuda, which is focused on providing reinsurance capacity for parametric insurance risks. AUL’s parent … from News – Insurance Journal https://ift.tt/3bXTci0

FedNat Pulling Out of Louisiana, Texas Amid Heavy Storm Losses

After two years of heavy storm-related losses, FedNat Insurance is pulling out of the Louisiana and Texas markets and doubling down on its home state of Florida. FedNat announced its decision to exit non-Florida markets during its holding company’s third … from News – Insurance Journal https://ift.tt/3ocI1HP

Allianz Posts Better-Than-Expected Q3 Net Profit as It Emerges From COVID Pressures

Allianz on Wednesday raised its outlook for the full year after posting a better-than-expected 2.3% rise in third-quarter net profit, as the German insurer emerges from business pressures caused by the coronavirus pandemic. The company signaled that it expected operating … from News – Insurance Journal https://ift.tt/3kqo7YH

BNSF Railway Joins Legal Fight Against Unions Over Vaccine Mandate

Another major railroad has gone to court to determine whether it has the authority to require all its employees to get vaccinated against the coronavirus. BNSF Railway filed a lawsuit in Illinois federal court against its major unions over its … from News – Insurance Journal https://ift.tt/3bUTBBC

FedNat Hopes to Improve Numbers By Concentrating on Florida Market

Who would have thought, given what many have called a crisis in the Florida property insurance market, that an insurance company would decide it could improve its bottom line by focusing solely on the storm-plagued Sunshine State? FedNat Insurance, formerly … from News – Insurance Journal https://ift.tt/3H8v3n6

Oklahoma Supreme Court Tosses $465 Million Opioid Ruling Against J&J

The Oklahoma Supreme Court overturned a ruling that drugmaker Johnson & Johnson must pay the state $465 million for its role in the opioid epidemic, determining that Oklahoma’s public nuisance law does not extend to manufacturing, marketing and sales of … from News – Insurance Journal https://ift.tt/3D0lpAA

Lemonade to Acquire Auto Insurer Metromile in Merger of Insurtechs

Digital insurer Lemonade plans to acquire California-based pay-per-mile auto insurance startup Metromile in an all-stock transaction as it continues to expand, Carrier Management reported. With the agreement, the New York-based insurtech stands to gain a national foothold in car insurance, … from News – Insurance Journal https://ift.tt/3H5VXvT

After Deadly Houston Concert, Fight Over Who’s to Blame Begins

Live Nation Entertainment Inc. is being targeted by more than a dozen lawsuits over the deadly crush of concertgoers at the promoter’s Astroworld Festival in Houston last week, but at least one expert says it may be too early to … from News – Insurance Journal https://ift.tt/31EQjQZ

How J&J Shaped Report on Talc’s Links to Cancer

Unsealed emails reveal the role baby-powder maker Johnson & Johnson played in a report that an industry group submitted to U.S. regulators deciding whether to keep warnings off talc-based products linked to cancer. The emails — unsealed in the state … from News – Insurance Journal https://ift.tt/3mVpPmC

Risk Strategies Acquires Connecticut’s Pawson Insurance

Risk Strategies, a national specialty insurance brokerage and risk management firm, acquired Pawson Insurance, a full-service retail insurance brokerage specializing in property/casualty and employee benefits solutions. Terms of the deal were not announced. Headquartered in Branford, Connecticut, Pawson Insurance was … from News – Insurance Journal https://ift.tt/3bVeYmh

New Law Requires New York Dealers to Sell Used Cars with Working Airbags

A new law will prohibit used car dealers in New York from selling vehicles that don’t have working airbags. Democratic New York Governor Kathy Hochul announced Sunday she signed the bill into law. It’s named after 18-year-old Anthony Amoros, a … from News – Insurance Journal https://ift.tt/3n10nvO

New Jersey AG’s Office Can’t Use County’s Insurance to Cover Tort Judgment

The New Jersey Attorney General’s Office can’t rely on a county’s insurance to cover judgment against a public entity facing tort claims, New Jersey’s Appellate Division has ruled. This comes after an Ocean County Prosecutor’s Office (OCPO) detective was driving … from News – Insurance Journal https://ift.tt/3bT9ubI

Lawsuit: Vaccination Statuses of Workers in Hawaii Disclosed

A lawsuit alleges that Hawaii officials unlawfully disclosed the COVID-19 vaccination statuses of nearly 300 Department of Public Safety employees. The Hawaii Government Employees Association and the United Public Workers unions said in a lawsuit filed last week that vaccination … from News – Insurance Journal https://ift.tt/3obLrKQ

Businesses Must Require Proof of Vaccine as Strict Mandate Takes Effect in L.A.

Yoga studio owner David Gross felt relieved after Los Angeles passed a vaccine mandate that is among the strictest in the country, a measure that took effect Monday that requires proof of shots for everyone entering a wide variety of … from News – Insurance Journal https://ift.tt/3n6hfSh

Robinhood Reports Data Breach and Extortion Payment Demand

The stock trading platform Robinhood Markets reported that it experienced a data breach on Nov. 3 that could potentially affect the email addresses of about five million customers and personal data of others. The hackers demanded an extortion payment. Robinhood … from News – Insurance Journal https://ift.tt/3wBZFbJ

U.S. Court Rejects Israeli Firm’s Immunity From Facebook Suit Over Malware

A U.S. appeals court said Facebook can pursue a lawsuit accusing Israel’s NSO Group of exploiting a bug in its WhatsApp messaging app to install malware allowing the surveillance of 1,400 people, including journalists, human rights activists and dissidents. In … from News – Insurance Journal https://ift.tt/3mYoawH

Judge Upholds United Airlines’ COVID Vaccine Mandate for Employees

A U.S. federal judge on Monday ruled United Airlines Holdings Inc. can impose a COVID-19 vaccine mandate on its employees that only provides unpaid leave for workers who are exempted for medical or religious reasons. U.S. District Judge Mark Pittman … from News – Insurance Journal https://ift.tt/3c00fq4

Xenia Acquires Financial and Specialty Business of London Broker Parker Norfolk

Xenia Broking Group Ltd. reports it has has acquired the trade credit and financial and specialty risk teams from specialist Lloyd’s insurance broker Parker Norfolk & Partners Ltd. The deal signals Xenia’s launch into the financial and specialty risks market, … from News – Insurance Journal https://ift.tt/3D6Xtvu

Top 20 Cyber Insurers in U.S. Including Loss Ratios: NAIC

The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners (NAIC). According to the NAIC’s 2020 Cyber … from News – Insurance Journal https://ift.tt/3qnP5nE

Arag hires broker business manager

Alastair Sambrook will be responsible for developing relationships with brokers, predominantly in the South East of England. from Insurer - insuranceage.co.uk https://ift.tt/3qrejSh

Greenpeace Germany Sues Volkswagen, Demands Tougher Climate Measures

Environmental activist Clara Mayer and the heads of Greenpeace Germany have sued Volkswagen in German court, the NGO said on Tuesday, accusing the automaker of failing to do its part to combat climate change. The claimants had given Volkswagen eight … from News – Insurance Journal https://ift.tt/3wu3csw

Telehealth Firms See Post-COVID Mental Health Crisis as Priority