Mon, 15 Oct 2018 13:05:13 +0000
Utility crews will be working throughout the weekend to restore power to Virginia customers affected by Tropical Storm Michael. Dominion Energy said in an outage update Saturday morning that more than 6,000 personnel were working to get power back up …
Mon, 15 Oct 2018 12:50:59 +0000
JLT Fac, a division of reinsurance broker JLT Re North America, has appointed Joe Ameruoso as head of North America Construction Casualty, Facultative. Ameruoso joins from Starr Insurance Cos. where he was for more than six years, most recently as …
Mon, 15 Oct 2018 12:44:30 +0000
Dozens of people remained missing on Sunday in Florida Panhandle communities reduced to ruins by Hurricane Michael as rescuers said they expected the death toll to rise and survivors grappled with power outages and shortages of food and water. Already …
Mon, 15 Oct 2018 12:40:45 +0000
Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook Inc announced on Friday, as the social media company said its largest-ever data theft hit fewer than the …
Mon, 15 Oct 2018 11:56:05 +0000
A weakened Hurricane Leslie slammed into the coast of Portugal, leaving 27 people injured as it uprooted trees, brought down power lines and smashed store windows with gusting winds and heavy rain. Over 60 people were forced to leave their …
Mon, 15 Oct 2018 11:07:53 +0000
Canada’s biggest life insurer is under pressure from shareholders to explain why it failed to disclose details of an ongoing court case which came to light after a short-seller released a report detailing the litigation. The stock has dropped 11.5 …
Mon, 15 Oct 2018 10:58:25 +0000
AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd., announced the appointment of Ann Haugh as president of its Global Markets division. In this role, Haugh will oversee AXIS Re Strategic Partners, global Specialty Re and AXIS Re’s …
Mon, 15 Oct 2018 09:51:28 +0000
Britain’s banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. “Financial risks from climate change will be minimized …
Mon, 15 Oct 2018 09:44:03 +0000
Lloyd’s, the specialist insurance and reinsurance market, today welcomes John Neal as its new chief executive officer. Neal brings more than 30 years’ experience in the insurance industry, most recently as group CEO of QBE Insurance Group. He succeeds ...
Mon, 15 Oct 2018 09:19:26 +0000
The London market’s electronic placing platform, PPL Ltd., announced that the treaty reinsurance class of business went live on the platform today, completing its roll out of products. PPL said its focus will now be on continuous improvement of the …
Mon, 15 Oct 2018 08:30:43 +0000
The U.K. and the European Union are on course to miss this week’s key milestone on the road to a Brexit deal after talks broke up in stalemate on Sunday, people familiar with the matter said. A weekend of intense …
Mon, 15 Oct 2018 08:04:56 +0000
The Philippines’ finance ministry said on Sunday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American earthquakes. The so-called cat bonds would help …
Mon, 15 Oct 2018 05:00:41 +0000
Federal Emergency Management Agency Administrator Brock Long angrily criticized the failure of citizens to heed evacuation warnings and leaders to better prepare for natural disasters such as Hurricane Michael. “It’s frustrating to us because we repeat...
Mon, 15 Oct 2018 05:00:24 +0000
While it is weighing providing benefits and insurance to its independent contractor drivers, ridesharing giant Uber is not interested in getting into the insurance business itself. Rather, the global transportation firm is content to focus on being an ...
Mon, 15 Oct 2018 05:00:08 +0000
The kind of dramatic scenes that played out in suburban Massachusetts last month following a series of explosions and fires may serve as a warning of what lies ahead for the U.S., where an increasing reliance on natural gas is …
Mon, 15 Oct 2018 04:34:38 +0000
Catastrophe modeling firm Karen Clark & Co. (KCC) estimates insured losses from Hurricane Michael will be close to $8 billion, according to the KCC high resolution U.S. Hurricane Reference Model. This estimate includes the privately insured wind and st...
Mon, 15 Oct 2018 04:28:28 +0000
Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but nothing that will cause problems for insu...
Mon, 15 Oct 2018 04:24:03 +0000
Turbeville Insurance Agency (TIA) of South Carolina has hired Graham Gardner as vice president of Large Construction Insurance in the company’s Columbia location. Gardner has more than 20 years of experience in the insurance industry, most recently as ...
Fri, 12 Oct 2018 23:32:41 +0000
Images compiled by Insurance Journal show the devastation to the Florida Panhandle caused by Hurricane Michael, which hit the region Oct. 10 as a Category 4 storm. Loss estimates range from $3 to $9 billion, according to catastrophe modelers, and …
Fri, 12 Oct 2018 18:57:36 +0000
The Nevada Board of Examiners has recommended approval of an additional $3.8 million to cover the cost of fighting wildfires this past summer. The Nevada Appeal reports state forester Kacey KC told the board Tuesday more than 500 wildland blazes …
Fri, 12 Oct 2018 16:53:45 +0000
Texas Gov. Greg Abbott has effectively extended until June 16, 2019, the deadline for approval or disapproval of a recent rate increase filed by the Texas Windstorm Insurance Association. The governor did so by suspending a section of the Insurance …
Fri, 12 Oct 2018 16:36:24 +0000
A St. Louis chiropractor has been sentenced to 30 months in prison and fined $350,000 for a scheme that involved bribing police officers to get information used to solicit clients. Mitchell Davis was sentenced in U.S. District Court. He pleaded …
Fri, 12 Oct 2018 16:33:38 +0000
Arkansas Insurance Commissioner Allen Kerr has approved four new out-of-state companies to sell insurance products in Arkansas. The Arkansas Insurance Department (AID) has granted Certificates of Authority to Minnesota’s SFM Mutual Insurance Co., Wisco...
Fri, 12 Oct 2018 16:24:42 +0000
The Texas Department of Insurance has fined Humana $700,000 for putting consumers at risk of paying higher bills because of an inadequate number of anesthesiologists in Harris, Bexar and Travis counties. The problem meant consumers couldn’t get in-netw...
Fri, 12 Oct 2018 16:22:03 +0000
Two Minnesota chiropractors have been sentenced to prison for their roles in separate multi-million-dollar insurance fraud conspiracies, the Minnesota Commerce Department announced. Adam John Burke, age 34, of Minneapolis, was sentenced to 90 months in...
Fri, 12 Oct 2018 16:18:16 +0000
Keystone Insurers Group (Keystone) has named Burns Insurance Agency of Marshfield to its growing list of partners in Wisconsin. Burns Insurance Agency was established in May 2000 by Cindy Burns. Dan Burns joined the agency in 2005. Today, the agency …
Fri, 12 Oct 2018 16:06:59 +0000
Police charged a limousine service operator Wednesday with criminally negligent homicide in a crash that killed 20 people, while the man’s lawyer said that he wasn’t guilty and that police were rushing to judgment. Prestige Limousine operator Nauman Hu...
Fri, 12 Oct 2018 15:44:46 +0000
The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane Michael will push 2018 closer to a m...
Fri, 12 Oct 2018 14:46:17 +0000
New data shows the cost of fighting wildfires in Oregon reached an all-time high $514.6 million in 2018. According to data from Northwest Interagency Coordination Center, Oregon’s costs skyrocketed past last year’s record-setting total of $447 million....
Fri, 12 Oct 2018 14:44:12 +0000
Washington’s Public Lands Commissioner wants lawmakers to increase the amount of money that the state spends to fight wildfires and prevent future blazes. Hilary Franz, who oversees the Department of Natural Resources, is asking the Legislature for $55...