Wed, 23 Sep 2020 18:00:56 +0000
The Bank of England has encouraged the government to work with U.K. insurers in preparation for future major shocks, rather than leave swathes of the economy exposed to catastrophic losses. The danger of a “protection gap” is emerging as firms …
Wed, 23 Sep 2020 16:59:33 +0000
A U.S. Coast Guard analysis found that a cargo ship overturned after departing a Georgia seaport because of unstable loading that left its center of gravity too high, making the vessel susceptible to rolling over, an expert told officials investigating …
Wed, 23 Sep 2020 16:46:39 +0000
The board of Florida Peninsula Insurance Co., a top 10 homeowners insurance company in Florida, has promoted Virginia Austin to director of Special Investigations. Austin, who began her career with Florida Peninsula as a claims examiner, has managed th...
Wed, 23 Sep 2020 16:44:10 +0000
Indiana had 21 work-related deaths on farms deaths last year, the fewest number of documented cases since 2013, Purdue University announced on Sept. 22. Three of the victims were children under the age of 5, while 11 were 60 or …
Wed, 23 Sep 2020 16:37:59 +0000
Two men injured by police during violence that followed the death of George Floyd in Minneapolis are suing the city, its police chief and unnamed officers. Soren Stevenson, 25, lost his left eye after he was shot by police with …
Wed, 23 Sep 2020 16:35:40 +0000
A formerly licensed insurance agent in Flint, Michigan, faces multiple felony charges for allegedly selling fraudulent automobile insurance certificates. The Michigan Department of Financial Services (DIFS) said 24-year old Dillen Leonard has been char...
Wed, 23 Sep 2020 16:28:25 +0000
Property/casualty insurer Topa Insurance Co. and Hippo Enterprises, a technology-driven managing general agency offering homeowners insurance, announced their mutual decision to end their three-year partnership. The move comes after Hippo’s acquisition...
Wed, 23 Sep 2020 16:05:55 +0000
Denver, Colo.-based CAC Specialty has named Matt Movafaghi a senior vice president in its tax insurance practice. Movafaghi was most recently a senior tax counsel for Chevron Corp., where he was responsible for implementing tax planning strategies and ...
Wed, 23 Sep 2020 14:44:54 +0000
A lack of firefighting resources in the hours after it was sparked allowed a fast-moving wildfire to make an unprecedented run through Southern California mountains and eventually find fuel in old-growth trees to become one of Los Angeles County’s larg...
Wed, 23 Sep 2020 14:35:36 +0000
Carnival Corp. is poised to dramatically curb monetary damages for passengers killed by the coronavirus under the latest court decision to side with the company. If a ruling Monday by a Los Angeles federal judge is followed by others, it …
Wed, 23 Sep 2020 14:28:15 +0000
Juul Labs Inc. has the Mafia to thank for the most potent legal claims accusing the e-cigarette maker of igniting an epidemic of youth nicotine addiction. The company will try to persuade a federal judge Monday that consumers and school …
Wed, 23 Sep 2020 13:43:48 +0000
The U.S. Justice Department will unveil later on Wednesday a proposal that seeks to limit legal protections for internet platforms on managing content, a person briefed on the matter confirmed. The proposal, which takes aim at Facebook Inc., Twitter In...
Wed, 23 Sep 2020 12:39:36 +0000
The House of Representatives yesterday extended the National Flood Insurance Program until Sept. 30, 2021 as part of a measure to fund the federal government through December 11. The flood insurance program is currently set to expire in a week …
Wed, 23 Sep 2020 12:36:28 +0000
MMG Insurance Company has hired David McPherson as senior vice president of operations, effective September 1, 2020. McPherson will work closely with Matt McHatten, current executive vice president and chief operating officer, to transition into his ro...
Wed, 23 Sep 2020 12:29:52 +0000
The Hilb Group LLC (THG) has acquired Connecticut-based Ganim Group Inc. (Ganim Benefits) from Ganim Financial Inc. The transaction became effective on September 1, 2020. The Ganim Benefits team, including Valerie Koch, will join THG of New England and...
Wed, 23 Sep 2020 12:23:54 +0000
A small plane traveling from Vermont crash landed on a residential street in Pennsylvania, injuring the pilot and a passenger. The single-engine aircraft was trying to land at Wilkes-Barre/Scranton International Airport on Sunday night when the pilot a...
Wed, 23 Sep 2020 11:47:38 +0000
The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to the International Group of P&I Club...
Wed, 23 Sep 2020 07:15:29 +0000
The Florida Department of Financial Services has deployed its Disaster Fraud Action Strike Team (DFAST) to the Florida Panhandle, as well as activated the state’s emergency adjuster license system to assist with recovery efforts from Hurricane Sally. A...
Wed, 23 Sep 2020 06:53:34 +0000
Insured losses from Hurricane Sally could reach as much as $3 billion, according to catastrophe modelers, but ratings agency Moody’s expects a moderate impact on property & casualty insurers and reinsurers. “Because Sally appears to be primarily a floo...
Wed, 23 Sep 2020 06:30:36 +0000
Texas-based Blue Bell Creameries L.P. has been ordered to pay $17.25 million in criminal penalties for shipments of contaminated ice cream products linked to a 2015 listeriosis outbreak, according to the U.S. Justice Department. Blue Bell pleaded guilt...
Wed, 23 Sep 2020 06:00:29 +0000
The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. Indeed, Esser said, the COVID-19-related coverage dispute...
Wed, 23 Sep 2020 06:00:06 +0000
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caus...
Wed, 23 Sep 2020 05:34:43 +0000
The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in commercial automobile rates. TAIPA...
Wed, 23 Sep 2020 05:00:55 +0000
Lockton Insurance Brokers LLC, the Pacific region of global insurance broker Lockton Cos., has named Teena Hostovich vice chair of Lockton Pacific and Greg Barnes president of Greater Los Angeles. Barnes and Hostovich are based in Lockton’s Los Angeles...
Wed, 23 Sep 2020 05:00:53 +0000
Shopify Inc. said on Tuesday data of customers who shopped at fewer than 200 merchants listed on the company’s e-commerce platform was likely exposed after two employees tried to steal transaction records. The data exposed includes email, name, and add...
Wed, 23 Sep 2020 05:00:40 +0000
Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project …
Wed, 23 Sep 2020 05:00:33 +0000
Toyota is the newest partner in the Swiss Re platform that provides a risk score on vehicles so insurers can develop premiums that reflect new safety features. Through this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Eu...
Wed, 23 Sep 2020 05:00:26 +0000
The U.S. Department of Labor on Tuesday said it would soon propose a rule that could make it easier to classify workers as independent contractors rather than employees, a major issue for the “gig economy” and other industries that use …
Wed, 23 Sep 2020 05:00:25 +0000
Arch Insurance International has formed Arch Managing Agency Limited to mange its Lloyd’s units. Arch Managing Agency Limited, which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency Ltd. into a single operation, will manage Syn...
Wed, 23 Sep 2020 05:00:04 +0000
CopperPoint Insurance Cos. has named Thomas Pytel vice president, chief marketing and corporate communications officer. Pytel ‘s responsibilities include leading the marketing and communications functions for the CopperPoint family of insurance compani...