October 17, 2017

Tue, 17 Oct 2017 10:50:29 +0000
Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating agency has put under review. Allstate...
Tue, 17 Oct 2017 08:37:09 +0000
When cheating becomes habitual, the consequences could be costly. Embattled Kobe Steel Ltd said on Tuesday the U.S. Justice Department is asking the steelmaker to provide documents related to its data falsification scandal. That came after a source wit...
Tue, 17 Oct 2017 07:38:22 +0000
The upcoming implementation of the European Union’s General Data Protection Regulation (GDPR), which takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a survey c...
Tue, 17 Oct 2017 06:59:29 +0000
Markel International, the specialist insurer, has unveiled a fintech policy offering comprehensive protection for businesses in the financial technology sector in Asia, having successfully launched it in the UK early last year. Simon Moi, senior underw...
Tue, 17 Oct 2017 06:42:44 +0000
Irish authorities will begin to clean up and count the cost of the worst storm to hit the country in more than 50 years, after Ophelia left a trail of destruction in its wake. At least three people died in …
Tue, 17 Oct 2017 05:00:51 +0000
An oil spill in the Gulf of Mexico last week may be the largest in the U.S. since the 2010 blowout at BP Plc’s Macondo well that sank the Deepwater Horizon rig. The Delta House floating production facility about 40 …
Tue, 17 Oct 2017 04:37:44 +0000
Rich Saltzman, owner of Brightway, The Saltzman Agency in Tampa, Fla., is now a multi-unit owner with Brightway Insurance with the purchase of a Brightway store located in Largo, Fla. The new agency is located at t 1601 East Bay …
Tue, 17 Oct 2017 04:33:22 +0000
Hub International Limited has acquired the assets of Banyan Consulting Group, Inc. (Banyan). Terms of the acquisition were not disclosed. With offices in Greensboro, Raleigh and Charlotte, North Carolina, Banyan specializes in employee benefits. Alan O...
Tue, 17 Oct 2017 04:31:09 +0000
The Florida Office of Insurance Regulation (OIR) will conduct a public hearing to discuss the National Council on Compensation Insurance’s (NCCI) proposed overall statewide average workers’ compensation premium decrease of 9.6 percent on Oct. 18 at 1:0...
Tue, 17 Oct 2017 01:19:11 +0000
Weathering a storm like Hurricanes Harvey, Irma or Maria requires planning, insurance and grit. In a span of 30 days the devastation from multiple hurricanes impacted millions of American families and businesses. When Harvey was offshore and still sett...
Tue, 17 Oct 2017 00:53:46 +0000
Minnesota chiropractor and two co-defendants have been convicted by a federal jury for their roles in an insurance fraud conspiracy, state Commerce Commissioner Mike Rothman announced. Chiropractor Preston Ellard Forthun, 39, of Bloomington, was convic...
Tue, 17 Oct 2017 00:43:20 +0000
Wayne Wignes, a specialist in aviation and aerospace insurance, has joined Alliant Insurance Services as a senior vice president. He is based in Chicago. At Alliant he will provide targeted risk management and insurance solutions to a national portfoli...
Tue, 17 Oct 2017 00:37:37 +0000
Kansas Commissioner of Insurance Ken Selzer announced that workers’ compensation insurance rates on average will drop in his state in 2018. The National Council on Compensations Insurance Inc. (NCCI) filing for the 2018 workers’ compensation rate shows...
Tue, 17 Oct 2017 00:18:34 +0000
Arthur J. Gallagher & Co. has acquired Santa Fe, New Mexico-based Reynolds & Rodar Insurance Group Inc. Terms of the transaction were not disclosed. With roots going back to 1882, Reynolds & Rodar is the oldest independent agency in New …
Mon, 16 Oct 2017 23:38:23 +0000
One reason behind continuously dismal commercial auto insurance losses is a spate of “nuclear cases” that are plaguing the industry with multi-million lawsuits. The amount of money and resources being put into the legal battlefield over commercial auto...
Mon, 16 Oct 2017 16:53:51 +0000
For Kalon Moore and Jackson Rollins, it’s a sight they never tire of. Just about every day on the job, the two look out at the Oklahoma landscape in every direction for miles, several hundred feet atop a wind turbine. …
Mon, 16 Oct 2017 16:41:43 +0000
After suspending most enforcement actions in Texas and Louisiana following Hurricane Harvey, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) on Oct. 10 resumed normal enforcement throughout Texas and Louisiana. Follo...
Mon, 16 Oct 2017 16:32:01 +0000
Some residents of Velma have returned to their homes after a leak in a natural gas well forced them to evacuate. Velma Fire Chief Jay Dumas said Saturday that a buildup of pressure caused the Stephens County well head to …
Mon, 16 Oct 2017 16:27:40 +0000
A contractor was fined $24,500 for safety violations after a worker died from a fall at a Richmond, Ind., factory. The Richmond Palladium-Item reports 23-year-old Jacob Bugg died June 27 after falling about 40 feet at a Purina animal food …
Mon, 16 Oct 2017 16:26:15 +0000
Four female photo journalists have filed a pay discrimination lawsuit in federal court against the Detroit Free Press. Former and current staff members allege in the complaint that the newspaper underpaid them because they’re women. The lawsuit follows...
Mon, 16 Oct 2017 16:23:43 +0000
Legislation to reduce Michigan’s high auto insurance premiums by letting drivers opt out of mandatory unlimited medical coverage is in peril, with majority Republicans lacking enough support to pass it on their own and many Democrats pushing an alterna...
Mon, 16 Oct 2017 16:20:35 +0000
The search continued for a worker missing from an oil production platform in Louisiana’s Lake Pontchartrain that exploded and caught fire late Sunday, sending six others to hospital with injuries, the U.S. Coast Guard said. Coast Guard rescue crews and …
Mon, 16 Oct 2017 15:52:27 +0000
Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the billions of dollars, a credit negative,” the...
Mon, 16 Oct 2017 15:34:32 +0000
Specialty broker AmWINS Group reports it has agreed to acquire 15 insurance programs from broker Willis Towers Watson. Among the programs being acquired by AmWINS are MountainGuard, which provides underwriting, claims and loss control services to the m...
Mon, 16 Oct 2017 15:29:21 +0000
PG&E Corp. at the end of last week capped its worst week in nine years on speculation that downed power lines may have played a role in deadly wildfires raging across California. And the rout is far from over. After …
Mon, 16 Oct 2017 14:13:42 +0000
The U.S. Supreme Court on Monday agreed to resolve a major privacy dispute between the Justice Department and Microsoft Corp. over whether prosecutors should get access to emails stored on company servers overseas. The justices will hear the Trump admi...
Mon, 16 Oct 2017 13:34:52 +0000
Bermuda-based reinsurer Hiscox Re, along with insurance linked securities investors (ILS), has launched a flood insurance product for personal lines insurers to sell in the U.S. The turnkey flood insurance product, named FloodXtra, is designed to take ...
Mon, 16 Oct 2017 13:11:13 +0000
A 17-year-old New Jersey teenager is in the hospital with extensive burns after he was shocked by high voltage lines on a train trestle. Lance Vargas’ grandmother says the teen is currently in the hospital with broken bones and burns …
Mon, 16 Oct 2017 13:04:45 +0000
Research from Willis Towers Watson published earlier this month revealed that insurers doing acquisitions in 2016 underperformed in comparison to peers that stayed away from M&A. WTW used a performance measure based on share price changes for the compa...
Mon, 16 Oct 2017 13:00:48 +0000
Freeborn & Peters LLP has hired Sean Thomas Keely to the firm’s New York office as a partner in the Litigation Practice Group and a member of the Insurance and Reinsurance Industry Team. The addition of Keely continues the expansion …

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