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INSURANCE INDUSTRY NEWS
Courtesy of The Insurance Journal

Latest Top (25) News


U.S. Insurers Not Doing Enough on Sustainability, New Report Shows
A new report from a sustainability advocate gives two green thumbs down to the U.S. insurance industry for its inability to grow its efforts, or its interest, in dealing with climate change compared with other sectors. The report, TURNING POINT: …

Thu, 26 Apr 2018 22:05:41 +0000


Bills Addressing Last Year’s California Wildfires Have Insurers Concerned
Insurance industry representatives said on Thursday they are working with the authors of pair of controversial bills approved by a committee in the California state Senate that are designed to give relief to victims of the massive wildfires last fall. …

Thu, 26 Apr 2018 20:01:16 +0000


FEMA Proposes Allowing Owners to Rebuild Homes After Taxpayer Buyouts
The Federal Emergency Management Agency is proposing to allow owners of homes destroyed by storms and bought out by the government to rebuild on the same flood-prone land. Currently, FEMA offers to buy homes that have been repeatedly damaged by …

Thu, 26 Apr 2018 18:10:23 +0000


Seeman Holtz Acquires Houston Agency’s Marine, Motorcycle Business
Seeman Holtz Property & Casualty Inc., based in Boca Raton, Florida, has acquired the marine and motorcycle insurance business of Elton Porter Insurance Agency in Houston, Texas. Members of the Elton Porter sales and service team will join Seeman Holtz …

Thu, 26 Apr 2018 16:38:45 +0000


Porter Named Chief HR Officer at Ohio’s Grange Insurance
Damon Porter has been appointed vice president, chief human resources officer at Grange Insurance, headquartered in Columbus, Ohio. Porter was previously vice president, talent management and human resources business partners at Erie Insurance in Pennsylvania. In that role, he led …

Thu, 26 Apr 2018 16:31:25 +0000


Wisconsin Court: PR Firm Not Entitled to Free Accident Data
A Wisconsin state appeals court says a public relations firm doesn’t have the right to free access to the state Department of Transportation’s accident database. The DOT releases accident reports through its website for $6 per report, through written requests …

Thu, 26 Apr 2018 16:27:45 +0000


Wisconsin, Leading in Manufacturing Jobs Added, Touts Private Sector Gains
Wisconsin added the most manufacturing jobs of any state in the first quarter of 2018 and ranks fourth nationally in the number of private sector jobs added in March, the state Department of Workforce Development (DWD) reported State-by-state rankings released …

Thu, 26 Apr 2018 16:27:12 +0000


Missouri Employers Mutual: More Businesses Injury-Free in 2017
Workers’ compensation insurer, Missouri Employers Mutual Insurance (MEM), says it experienced an all-time high in injury-free policyholders last year. MEM’s 2017 workplace safety data show the company increased its total policy count from 15,857 to 17,561 in 2017. And that …

Thu, 26 Apr 2018 16:24:07 +0000


Valero Refinery Fire in Texas Released Air Contaminants, Report Finds
A report found that a recent explosion and fire at a refinery along Texas’ Gulf Coast released four types of unauthorized contaminants into the air. The Daily News reports that Valero Energy estimates its Texas City refinery emitted more than …

Thu, 26 Apr 2018 16:21:03 +0000


Louisiana Lawmakers Eye Stiffer Penalties for Pipeline Damage
A fight over a crude oil pipeline in southern Louisiana has spilled into the Legislature. A proposal to stiffen penalties for damaging or trespassing around pipelines is nearing final passage after winning approval from a Senate judicial committee. Rep. Major …

Thu, 26 Apr 2018 16:19:44 +0000


Pennsylvania Court Awards Summary Judgment to Insurer Accused of Bad Faith
A judge in the U.S. District Court for the Western District of Pennsylvania awarded summary judgment to an insurer accused of bad faith after denying a man’s claim for losses exceeding $1 million when a fire destroyed his home. The …

Thu, 26 Apr 2018 15:35:58 +0000


Copperfield Testifies in Illusion Case in Las Vegas Where Man Says He Was Hurt
David Copperfield insisted this week he knew of no one being injured during more than 15 years of performing a signature vanishing act at the center of a lawsuit by a British tourist who claims he was seriously hurt in …

Thu, 26 Apr 2018 14:52:41 +0000


California Bill Would Shield PG&E, Edison from Some Wildfire Liability
Utility giants PG&E Corp. and Edison International could gain at least some protection against future wildfire damages under a bill that’s advancing in California’s legislature. An amended bill being weighed by California’s Senate would shield utilities that follow approved safety …

Thu, 26 Apr 2018 14:39:45 +0000


NTSB Says Pilot Reported Ice Buildup Before Crash of Small Plane in Pennsylvania
Investigators say the pilot of a small plane had reported ice buildup on his aircraft and asked to divert to a nearby airport shortly before the crash that killed him and his passenger last week in Pennsylvania. A preliminary report …

Thu, 26 Apr 2018 13:05:49 +0000


Insurers Say Cyber Insurance Underwriting Is Profitable for Now: PwC
Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting firm’s survey found that 80 …

Thu, 26 Apr 2018 12:23:49 +0000


Zurich Insurance Reported to be Preparing to Cut Stake in Malaysian Unit
Zurich Insurance Group AG is working with advisers to cut its stake in its Malaysian life insurance unit, people with knowledge of the matter said, joining a wave of foreign players planning over $2 billion of such deals in the …

Thu, 26 Apr 2018 12:00:02 +0000


Florida Man Sentenced in N.J. for Filing More Than $1.2M in Fraudulent Insurance Claims
A Florida man was sentenced to nine years in state prison for filing more than $1.2 million in false claims for refrigerated cargo purportedly spoiled in cross-country transport by his long-haul trucking companies based out of Middlesex County, N.J. Palm …

Thu, 26 Apr 2018 06:56:30 +0000


Massachusetts Holds 7th Annual National Cyber Crime Conference
More than 700 law enforcement officers, prosecutors and investigators from across the U.S. and Canada recently attended the seventh annual National Cyber Crime Conference hosted by Massachusetts Attorney General Maura Healey. The three-day conference serves as the largest of its …

Thu, 26 Apr 2018 06:16:24 +0000


Liberty Mutual Launches New Umbrella, Contractor’s Equipment Policies
Liberty Mutual has introduced two new policy forms – umbrella and contractor’s equipment – designed to make it easier for brokers to meet a broader set of coverage needs for their customers. Liberty Mutual’s new, simplified umbrella form offers broader …

Thu, 26 Apr 2018 06:00:19 +0000


Humphry Joins The Iroquois Group in Kentucky
Mike Humphry has joined The Iroquois Group’s Mid-Atlantic team as a regional manager for southern Ohio and Kentucky. Humphry’s insurance career, which began in 1980, has included experience in both the independent agency and exclusive agency distribution systems. Prior to …

Thu, 26 Apr 2018 04:26:08 +0000


GuideWell Insurance Agency in Florida to Offer StormPeace Hurricane Coverage
GuideWell Insurance Agency, an exclusive property and casualty agency for Florida Blue health plan members, will offer StormPeace, a supplemental hurricane policy from Assured Risk Cover that provides coverage of losses and expenses not covered by traditional homeowners insurance. The …

Thu, 26 Apr 2018 04:22:15 +0000


2 Workers Rescued After Miami Scaffolding Malfunction
Two construction workers were rescued from the side of a five-story building near Miami when the scaffolding they were standing on malfunctioned. The incident played out on television news shows Tuesday morning as the men conducted repairs and maintenance at …

Thu, 26 Apr 2018 04:08:12 +0000


Court Nixes $151 Million Hip Implant Verdict Against J&J
Johnson & Johnson persuaded an appeals court to throw out a $151 million award over its Pinnacle artificial hips in a ruling that will affect thousands of lawsuits over the devices. A judge’s error in allowing hip recipients’ lawyers to …

Thu, 26 Apr 2018 01:43:14 +0000


Merck Loses Bid to Collect Patent Infringement Damages from Gilead
A U.S. appeals court on Wednesday affirmed a ruling that pharmaceutical company Merck & Co. dishonestly obtained patent rights and was not entitled to collect a $200 million infringement verdict it won against rival Gilead Sciences Inc. The U.S. Court …

Thu, 26 Apr 2018 01:38:16 +0000


Arch Re Turns Over Discontinued Operations Runoff to Catalina General
Arch Reinsurance Ltd. said that its runoff liabilities from some discontinued operations will now be handled by Catalina General Insurance Ltd. The reinsurance transaction specifically involves some discontinued U.S. specialty casualty exposures and other discontinued U.S. standard programs business. Why …

Thu, 26 Apr 2018 01:00:53 +0000


For more news, visit The Insurance Journal online.