Tue, 24 Sep 2019 08:47:09 +0000
German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain’s Aviva in a deal likely to be worth up to $2.5 billion, sources said. Canada’s Sun Life Financial is …
Tue, 24 Sep 2019 07:52:19 +0000
Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” …
Tue, 24 Sep 2019 06:35:46 +0000
Berkshire Hathaway Specialty Insurance (BHSI) announced that it has further expanded its global footprint, opening a new office in Madrid, naming Ignacio Almazan as country manager for Spain. BHSI will initially underwrite property, casualty, financial...
Tue, 24 Sep 2019 06:30:43 +0000
Travelers Insurance Co. Ltd., the U.K. subsidiary of The Travelers Cos., has received approval from the High Court of England and Wales to transfer the portfolios of all relevant in-force policies and historic liabilities written out of its Irish, Fren...
Tue, 24 Sep 2019 06:30:42 +0000
It’s time to rethink the limits of parametric insurance. The concept behind parametric insurance is not new. Insurance payouts automatically triggered by an event exceeding an index level have existed for decades. It’s traditionally been applied to eve...
Tue, 24 Sep 2019 05:04:33 +0000
Monarch E&S Insurance Services, a division of SPG Insurance Solutions, a full-service MGA and wholesale broker, has opened a new branch in Florida. The new branch is part of the company’s plans to expand its reach nationwide. The Southeast branch …
Tue, 24 Sep 2019 05:00:23 +0000
When the medical community makes mistakes, it’s like shooting down a few hundred airplanes every year. That’s a dramatic metaphor that has stuck in my mind since I first heard it from a doctor, and an apt way to describe …
Tue, 24 Sep 2019 04:27:47 +0000
Canal Insurance Company’s board of directors has approved the addition of John Rzepinski to its senior leadership team as senior vice president, chief financial officer and treasurer, effective Sept. 16, 2019. Rzepinski most recently served as the CFO ...
Mon, 23 Sep 2019 23:48:38 +0000
Insurers and pension funds managing $2.3 trillion pledged on Monday to shift their portfolios away from carbon-heavy industries in the hope of triggering snowballing climate commitments from other big investors. German insurer Allianz, the California P...
Mon, 23 Sep 2019 20:30:23 +0000
HUB International Ltd. has acquired the assets of Denver, Colo.-based Inter-Mountain Retirement Partners Inc. Terms of the deal were not disclosed. Chad J. Larsen, president and CEO Inter-Mountain, will join Hub Colorado. Inter-Mountain has a second of...
Mon, 23 Sep 2019 20:25:23 +0000
Los Angeles, Calif.-based The Liberty Company Insurance Brokers has named Roy Caswell executive vice president and director of information technology. Caswell started in the insurance industry in 1992 working at American National Insurance before runni...
Mon, 23 Sep 2019 20:20:31 +0000
PG&E Corp. and a group of insurers urged a judge to reject a competing reorganization plan for the bankrupt utility because the proposal would pay fire victims who lost their homes ahead of insurance companies and “unjustly enrich” bondholders including …
Mon, 23 Sep 2019 17:03:58 +0000
The Tennessee Court of Appeals has ruled that a lawsuit against opioid makers can move forward, overturning a lower court that had dismissed the claims. At issue is whether Tennessee’s Drug Dealer Liability Act applies to U.S. Food and Drug …
Mon, 23 Sep 2019 17:02:34 +0000
Steve Nichols, manager of Workers’ Compensation Services at the Insurance Council of Texas (ICT), is moving on to pursue other opportunities, the insurance trade organization reports. Nichols has been with ICT for 19 years; his last day will be Sept. …
Mon, 23 Sep 2019 17:01:42 +0000
Some residents living near a coal-fired power plant in Tennessee have asked the state to investigate unidentified particles they say are coating their homes. The Knoxville News Sentinel reports the fine particles have fallen from the sky onto cars, dri...
Mon, 23 Sep 2019 16:48:43 +0000
The chairman of an Iowa government insurance program is defending its long practice of holding public meetings at resorts in Michigan and Florida and private clubs in Iowa. Jody Smith, board chairman of the Iowa Communities Assurance Pool since 1992, …
Mon, 23 Sep 2019 16:44:36 +0000
Fresh water from Midwestern floods has killed oysters along the coasts of three states and cost Mississippi half of its blue crabs. Water that came through a Louisiana spillway killed 95% of the oysters in Mississippi’s share of the Mississippi …
Mon, 23 Sep 2019 16:42:50 +0000
Lawyers for the North Carolina insurance magnate charged with trying to bribe the state’s top insurance regulator say the case should be dismissed because he claims he was exercising his right to support elected officials who were responsive to constit...
Mon, 23 Sep 2019 16:34:03 +0000
The widespread damage brought to the Houston area by one of the wettest tropical cyclones in U.S. history came into broader view Saturday, as floodwaters receded to reveal the exhausting cleanup effort that lies ahead for many communities and homeowner...
Mon, 23 Sep 2019 16:30:05 +0000
Mobile, Ala., firefighters staged more than 60 water rescues after heavy rains prompted flooding across the city. Storms that dumped more than 7 inches of rain across Mobile in a few hours left streets and parking lots covered with water …
Mon, 23 Sep 2019 16:28:57 +0000
Traverse City, Michigan-based Hagerty is evolving to adapt to a changing automotive world. “Our mission as a business is to save driving and car culture for future generations,” said McKeel Hagerty, CEO. “We’re not just in the insurance business. We …
Mon, 23 Sep 2019 16:18:44 +0000
Ohio’s insurance fund for injured workers tells employers to watch their mailboxes as it prepares to send out dividend checks totaling around $1.5 billion. The Ohio Bureau of Workers’ Compensation says strong investment returns, fewer injury claims and...
Mon, 23 Sep 2019 16:04:22 +0000
Consumer Watchdog has written California Attorney General Xavier Becerra and the District Attorneys of Sacramento, San Francisco, and Los Angeles counties, calling for an investigation of money laundering and bribery relating to the fundraising scandal...
Mon, 23 Sep 2019 15:18:46 +0000
Newly-launched specialty insurance broker CAC Specialty announced the appointment of Michael D. Rice II as its chief executive officer. Rice brings years of experience in the brokerage industry. Most recently, he served as the founding CEO and executiv...
Mon, 23 Sep 2019 15:12:56 +0000
Two vaping companies have agreed not to promote their products to minors under a settlement with Los Angeles prosecutors. The city attorney’s office announced a lawsuit settlement Friday with NEwhere Inc. and VapeCo Distribution LLC. The LA-based compa...
Mon, 23 Sep 2019 15:11:08 +0000
One was a ship in name only, an artist commune set up in an Oakland warehouse. The other was a bona fide boat afloat on the ocean off Santa Barbara. Both became fiery death traps for a combined 70 souls, …
Mon, 23 Sep 2019 14:57:28 +0000
A tour bus crashed on a highway running through the red-rock landscape of southern Utah on Friday, killing four people from China and injuring dozens more. The bus from Southern California rolled onto a guard rail, crushing its roof and …
Mon, 23 Sep 2019 12:40:04 +0000
AM Best has revised the outlooks to negative from stable and affirmed the financial strength rating of A+ (superior) and the long-term issuer credit ratings of aa- for the members of Quincy Mutual Group. The group includes the lead company, …
Mon, 23 Sep 2019 12:35:57 +0000
Hub International Limited, a global insurance brokerage, has acquired certain assets of WhartonHill Retirement Services LLC, Strategic Planning Resources Inc. and Karen McCloskey, collectively doing business as WhartonHill Advisors. Terms of the transa...
Mon, 23 Sep 2019 12:32:30 +0000
Arthur J. Gallagher & Co. has acquired Pittsburgh, Penn.-based Allied Insurance Brokers and its subsidiary, Ascinsure Specialty Risk. Terms of the transaction were not disclosed. Founded in 1982, Allied Insurance Brokers specializes in offering insuran...