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    Commercial Automobile Remains Sore Spot in P/C: A.M. Best
    Fri, 19 Jan 2018

    The performance of the commercial automobile segment continued to deteriorate through third quarter 2017, according to a new A.M. Best report. Commercial auto has been a sore spot in the property/casualty for several years. Commercial auto insurers have tried to …

    Sioux Falls, S.D., Scores Record Year for Commercial Construction
    Fri, 19 Jan 2018

    Commercial construction climbed to another record-breaking year in Sioux Falls. Building permits issued in 2017 for commercial projects reached $739 million. City leaders say it’s the fifth year in a row that construction has reached record-breaking levels. The city’s biggest …

    Drone Owners Warned Against Use near Oklahoma Air Force Base
    Fri, 19 Jan 2018

    Officials at a northern Oklahoma air force base are asking the public to keep recreational drones away from aircraft after a near collision on a training flight. Lt. Col. Eric Schmidt works at Vance Air Force Base. He told the …

    Nationwide Chief Information Officer Keller to Retire
    Fri, 19 Jan 2018

    Columbus, Ohio-based insurer, Nationwide, announced that Chief Information Officer Michael Keller will retire from his role later this year. Keller has been the CIO for Nationwide since 2001. The company anticipates it will name Keller’s successor sometime in the second …

    JLT Specialty USA Locating Headquarters in Chicago
    Fri, 19 Jan 2018

    JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc (JLT), the global specialist risk advisor and broker, has chosen Chicago as its U.S headquarters. The company said it has seen impressive growth over the last three years …

    People Injured at Riot Sue UC Berkeley, City,
    Fri, 19 Jan 2018

    Four San Francisco Bay Area residents who say they were injured by protesters during a riot ahead of a speech by a right-wing provocateur at the University of California, Berkeley filed a lawsuit against the university and the city, their …

    The MEMIC Group Promotes Cavallaro to Production Underwriter Based in Georgia
    Fri, 19 Jan 2018

    To support growth within the Georgia market, workers’ compensation specialist The MEMIC Group has announced the promotion of Ben Cavallaro to the position of production underwriter. A native of Portland, Maine, and resident of Alpharetta, Ga., Cavallaro began his career …

    Maine Gas Station Fuel Mishap Leads to Damaged Vehicles
    Fri, 19 Jan 2018

    Some drivers in Maine say their vehicles were damaged when they purchased fuel that was in the wrong pumps at a gas station. The Kennebec Journal reports all of the drivers filled their tanks at a Mobil station in Waterville …

    Fire Damages Businesses at New Hampshire Strip Mall, Officials Investigate
    Fri, 19 Jan 2018

    Investigators are working to determine the cause of a fire that broke out at a New Hampshire strip mall. Fire officials say none of the stores were open at the time and there were no injuries. WMUR-TV reports firefighters responded …

    Lockton Hires Steed as Senior Account Executive in South Florida Office
    Fri, 19 Jan 2018

    Lockton, a privately held, independent insurance broker, has hired JoAnne Steed in its South Florida operation as a senior account executive. In this role, Steed will be based in Lockton’s Miramar, Fl., office. She will be responsible for client strategy …

    Massachusetts’ Coverys Invests in Patient Engagement, Medical Education Companies
    Fri, 19 Jan 2018

    Coverys, a Boston, Mass.-based medical professional liability insurance provider, has announced its investment in two separate organizations, Knowledge Diffusion Inc. (Osmosis) and Pack Health LLC (Pack Health). Osmosis is a medical and health education technology company with headquarters in Baltimore, …

    Tennessee Captive Insurance Companies Exceed $1 Billion in Premiums
    Fri, 19 Jan 2018

    The state of Tennessee saw domestic captive insurance companies exceed $1 billion in written premiums in 2017 for the first time – a milestone for Tennessee’s burgeoning captive insurance marketplace. In addition to setting a new benchmark in premiums, the …

    Edison Motor Launches on Volante’s New UK-Based MGA Platform
    Fri, 19 Jan 2018

    Volante Global Ltd., a new multi-class and multi-territory international managing general agent (MGA) platform, has announced the launch of Edison Motor and the appointment of Steven Dickie and Doug Ockwell as joint managing directors of the new operation. Edison Motor …

    London’s Brexit-Related Job Losses Will Be Fewer Than 1st Feared: Policy Chief
    Fri, 19 Jan 2018

    Britain’s vast financial services industry will suffer far fewer job losses from Brexit than first feared, the City of London’s policy chief told Reuters, in remarks that will boost supporters of leaving the EU who say the threat has been …

    Lebanon Spy Agency Turns Smartphones into Spycams in 21 Countries: Researchers
    Fri, 19 Jan 2018

    Lebanon’s intelligence service may have turned the smartphones of thousands of targeted individuals into cyber-spying machines in one of the first known examples of large-scale state hacking of phones rather than computers, researchers say. Lebanon’s General Directorate of General Security …

    U.S. Regulator Pulls Back from MetLife’s ‘Too-Big-to-Fail’ Designation
    Fri, 19 Jan 2018

    The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversight …

    AIG Taps Barron from PwC as Head of International Government Affairs
    Fri, 19 Jan 2018

    American International Group (AIG) announced that Ed Barron will join the company as head of International Government Affairs, effective March 2018. In this new role, Barron will be responsible for developing a cohesive, global perspective and engagement strategy for legislative …

    U.S. Banks Face Growing Threat from Cyber Attacks: New Bank Regulator
    Fri, 19 Jan 2018

    U.S. banks are facing a growing threat from cyber attackers and making defense against them more complex by relying on third-party firms for support, according to a report released Thursday by Joseph Otting, the Trump administration appointee who took over …

    RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings
    Fri, 19 Jan 2018

    RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will pursue the investment through its subsidiary RenaissanceRe Ventures Ltd. …

    Microinsurer BIMA Aims to Close Developing Nations’ Protection Gap with Life & Health Cover
    Fri, 19 Jan 2018

    The insurance protection gap in developing nations is being filled by a growing group of microinsurers, which provide coverage that ranges from life and health insurance, to crop insurance, to property protection after natural disasters. It is all aimed to …

    A.M. Best Assigns Credit Ratings to Texas’ Pan-American Casualty
    Fri, 19 Jan 2018

    A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Pan-American Casualty Co. (PACC) in Richardson, Texas, a wholly owned indirect subsidiary of Pan-American Casualty Co. (PACC) The ratings have …

    Rating of Michigan’s Wolverine Mutual Insurance Upgraded
    Fri, 19 Jan 2018

    A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Wolverine Mutual Insurance Co. (Wolverine), in Dowagiac, Michigan. The outlook of the Long-Term ICR …

    Bankruptcy Judge Rules GM’s $1 Billion Stock Settlement Over Ignition Invalid
    Fri, 19 Jan 2018

    A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors Co. to pay $1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable. Judge Martin Glenn of the …

    Insurance Chief Jain’s Berkshire Hathaway Shares Top $100 Million
    Fri, 19 Jan 2018

    One of Warren Buffett’s top deputies has amassed a stake in Berkshire Hathaway Inc. valued at more than $100 million. Ajit Jain, the insurance executive who was named a vice chairman of Buffett’s conglomerate earlier this month, disclosed the holdings …

    Image System Promises to Identify Unsafe Traffic Intersections Before Accidents Happen
    Fri, 19 Jan 2018

    Could a traffic agency identify a potentially dangerous road intersection without first witnessing a collision? Three Kennesaw State University researchers and the Georgia Department of Transportation (GDOT) are attempting to answer that question as they near completion on a two-year …

    Kentucky Highway Deaths Decreased in 2017
    Fri, 19 Jan 2018

    Kentucky has recorded a decrease in highway fatalities for the first time since 2013. The Lexington Herald-Leader reports that the Kentucky Office of Highway Safety says initial numbers show 770 highway-related deaths in 2017, dropping from 834 in 2016. Office …

    California Earthquake Authority Chief Talks About 1 Million Policies
    Thu, 18 Jan 2018

    Glenn Pomeroy, CEO of the California Earthquake Authority, is as enthusiastic of an earthquake policy salesman as you’ll find anywhere. Pomeroy has headed the state’s privately funded, publicly managed seller of earthquake policies for the past 10 years. Since Pomeroy, …

    Lockton Adds Ring as Vice President in Northern California
    Thu, 18 Jan 2018

    Lockton has added David Ring in its Sacramento, Calif. office as a vice president. Ring will be responsible for client consulting and business development for employee benefits and commercial insurance. Ring has specialized in advising clients in the banking, financial …

    Insurers Increasing Payments to California Wildfire Victims Sans Itemization
    Thu, 18 Jan 2018

    California Insurance Commissioner Dave Jones on Thursday released the results of the formal notice he issued last month to all residential property insurers requesting they provide up to 100 percent of contents coverage limits for fire survivors who experienced a …

    Arkansas Insurance Commissioner Named Consumer Committee Chair at NAIC
    Thu, 18 Jan 2018

    Arkansas Insurance Commissioner Allen Kerr has been named chairman of the Market Regulation and Consumer Affairs (D) Committee of the National Association of Insurance Commissioners (NAIC) for 2018. The mission of the Market Regulation and Consumer Affairs (D) Committee is …