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INSURANCE INDUSTRY NEWS
Courtesy of The Insurance Journal

Latest Top (25) News


ISO Grows Fire Hydrant Database by 700K
ISO said it has enhanced its Public Protection Classification (PPC) program with the inclusion of location data for an additional 700,000 U.S. fire hydrants, increasing the number of hydrants in the database to 9 million. Hydrant data is part of …

Wed, 18 Jul 2018 12:25:43 +0000


Doctors Sue Anthem Over Denial of Emergency Room Charges
The health insurer Anthem Inc. was sued by doctors in Georgia for declining to pay for some emergency-room care, escalating a long-running battle over how far insurance plans can go to push patients to seek lower-cost treatment. The American College …

Wed, 18 Jul 2018 12:18:25 +0000


MGAs Working with Insurtech Firms to Bolster Customer Centricity: Survey
Managing general agents (MGAs) are increasingly interested in working with insurtech firms to enable their businesses to become more customer-centric, according to a new survey of UK MGAs. More than 42 percent of survey respondents feel insurtech helps MGAs evolve …

Wed, 18 Jul 2018 11:19:05 +0000


Lindeboom Retires as Co-Managing Director of THB Europe, Succeeded by Borges
THB, the London-based specialist insurance and reinsurance broker, announced new leadership at THB European Division, based in Amsterdam. Paul Lindeboom, co-managing director of the division, will retire as planned from his post on July 31. Ricardo Borges, director at THB, …

Wed, 18 Jul 2018 08:51:19 +0000


Some Recreational Cannabis Products to Remain Banned Under New Canada Law
A key segment of Canada’s marijuana industry will remain banned for up to a year after the drug becomes legal for recreational use — making it harder for Justin Trudeau to kill off the black market. Edibles, beverages, and pot …

Wed, 18 Jul 2018 08:34:35 +0000


Reinsurers, Insurtech Startups Increasingly Seek Mutually Beneficial Partnerships
Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments have? There are a number of reasons reinsurers are getting involved …

Wed, 18 Jul 2018 08:15:28 +0000


MGM Files Suit to Limit Liability for Las Vegas Shooting
MGM Resorts International sued the victims of a Las Vegas music festival mass shooting in an effort to block any potential compensation claims against it. The owner of the Mandalay Bay hotel claims a 2002 federal statute wipes out liability …

Wed, 18 Jul 2018 05:00:53 +0000


U.S. Labor Judge Nixes McDonald’s Deal to Avoid Joint Employer Tag
A judge with a U.S. labor agency on Tuesday rejected McDonald’s Corp.’s proposed settlement of a major case on whether the fast-food company is accountable for alleged labor law violations by franchisees across the country. The settlement proposed in March …

Wed, 18 Jul 2018 05:00:45 +0000


Ford to Pay Consumers $299 Million to Settle Takata Airbag Lawsuit
Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls. The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners …

Wed, 18 Jul 2018 05:00:18 +0000


Washington Asbestos Removal Company Fined $229K for Unsafe Conditions
An Edmonds, Wash.-based asbestos removal contractor has been cited by the Washington Department of Labor & Industries for multiple willful safety violations for improper handling of asbestos. Along with the citations, the company faces fines totaling $229,700. L&I has cited …

Tue, 17 Jul 2018 18:32:33 +0000


Mueller Industries Settles Disability Discrimination Suit in California for $1M
The U.S. Equal Employment Opportunity Commission has settled a disability discrimination lawsuit in California against a global metal goods manufacturer Mueller Industries Inc. for $1 million and other injunctive relief. According to the EEOC, Memphis, Tenn.-based Mueller violated federal law …

Tue, 17 Jul 2018 18:26:56 +0000


Oklahoma City Spending to Improve Traffic Issues, Prepping for Self-Driving Cars
A city in central Oklahoma is spending millions of dollars preparing for self-driving cars while working to alleviate traffic problems. Edmond Traffic Engineer Tom Minnick told The Oklahoman that the city is laying down infrastructure for autonomous vehicles. The $5 …

Tue, 17 Jul 2018 18:18:54 +0000


Loss Estimate for Europe’s Storm Friederike (aka DAVID) Rises to €1.7B ($2.0B): PERILS
The third insured loss estimate for extratropical Cyclone Friederike, also known as “David,” has risen to €1.675 billion ($2.0 billion), according to PERILS, the independent Zurich-based organisation that provides industry-wide catastrophe insurance data. PERILS’ third estimate of the insured property …

Tue, 17 Jul 2018 16:46:22 +0000


QBE, AmWINS Launch E&O Coverage for Architects, Engineers, Design Businesses
QBE North America has formed a partnership with AmWINS Program Underwriters (APU) to offer errors and omissions coverage for architects, engineers and design (A&E) businesses. The launch is part of QBE’s initiative to expand its specialized portfolio. APU’s A&E program …

Tue, 17 Jul 2018 16:13:20 +0000


Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing
For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. …

Tue, 17 Jul 2018 15:56:11 +0000


Baylor in Texas Settles Suit with Woman Who Accused Players of Rape
Baylor University has settled a federal Title IX lawsuit brought by a former volleyball player who alleged that she was drugged and gang raped by at least four football players in 2012. Terms of last week’s settlement with the woman, …

Tue, 17 Jul 2018 15:07:47 +0000


Feds Investigating Crane Vs. Power Line Worker Death at Ohio Home
The federal worker safety agency is investigating the death of a man in southwest Ohio who was electrocuted when a crane touched a power line at a home under construction. WLWT-TV reports the accident occurred last week in Butler County’s …

Tue, 17 Jul 2018 15:05:05 +0000


Passenger Bus Crash in New Mexico Kills 3, Injures 24
A crash involving a commercial passenger bus and three other vehicles on a New Mexico highway early Sunday killed three people and injured 24 others, some critically, authorities said. One of the people killed was in a car that struck …

Tue, 17 Jul 2018 14:39:22 +0000


The Dentists Insurance Co. in California Names Spinelli CEO
The boards of directors for the Sacramento, Calif.-based Dentists Insurance Co., Northwest Dentists Insurance Co. and Dentists Benefits Insurance Co. have named Bob Spinelli president and CEO. In addition to leading all operations at TDIC, DBIC and NORDIC, Spinelli will …

Tue, 17 Jul 2018 14:35:12 +0000


RMS Strengthens Asia-Pacific Capabilities in Version 18 of Modeling Software
RMS, the Newark, Calif.-based risk modeling and analytics firm, announced it has strengthened the Asia Pacific capabilities of its Version 18 catastrophe risk management software. The Asia Pacific model suit is being expanded to include new peril models for India …

Tue, 17 Jul 2018 14:22:24 +0000


Business Council Touts Workers’ Comp Savings in New York
The Business Council of New York State Inc. has touted the newly approved 11.7 percent reduction in loss cost rates, which are the basis for setting workers’ compensation premiums for 2019, as being significant toward workers’ compensation savings for most …

Tue, 17 Jul 2018 13:29:10 +0000


Chubb Hires Everest’s Watt to Lead North America Claims
Chubb has appointed Megan Watt, as executive vice president, head of North America Claims. In this role, she will lead all aspects of Chubb North America claims management, service and administration for the commercial and personal insurance businesses. Watt has …

Tue, 17 Jul 2018 13:24:33 +0000


KBW Hires Sarkar to Its Insurance Investment Banking Group in New York
Keefe, Bruyette & Woods Inc. (KBW), a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and a wholly owned subsidiary of Stifel Financial Corp., has hired Rajib Sarkar as managing director in its Insurance Investment …

Tue, 17 Jul 2018 13:19:56 +0000


Supreme Court Nominee Kavanaugh Seen as Business Friend, Regulation Skeptic
Brett Kavanaugh could add a powerful new voice on the Supreme Court to restrain what government agencies can do, ushering in a new era of tougher scrutiny of federal regulations loathed by businesses. In a dozen years on the U.S. …

Tue, 17 Jul 2018 13:14:05 +0000


Connecticut’s CMIC Hires Cronin as Director of Underwriting
CMIC, a Glastonbury, Conn.-based, member-owned medical professional liability insurance company, has hired Garrett P. Cronin to the CMIC Group team as the director of underwriting. Prior to joining CMIC, Cronin worked for Chubb Corporation as a national underwriting manager within …

Tue, 17 Jul 2018 12:59:45 +0000


For more news, visit The Insurance Journal online.