Insurance News
New Liability Coverage Minimums in Nevada Go into Effective in July
Thu, 21 Jun 2018
Nevada’s new liability coverage minimums go into effect next month. The new standards require drivers to be covered for at least $25,000 in bodily injury per person, $50,000 per crash and $20,000 for property damage per wreck. According to the …
Beverly Hills Doctor Sentenced to 10 Years in Workers’ Comp Scam
Thu, 21 Jun 2018
A Beverly Hills, Calif. doctor has been sentenced to 10 years in federal prison for his role in a massive fraud scheme. The San Diego Union-Tribune reports Dr. Ronald Grusd was convicted in December of 39 charges, including conspiracy, honest …
OneBeacon Surety Revamps Leadership Team, Expands Capacity
Thu, 21 Jun 2018
OneBeacon Surety Group recently announced changes to its U.S. leadership team. In addition, it is now offering up to $250,000,000 in aggregate surety bond capacity for qualifying clients. Chad Anderson has been named head of North American Surety. Anderson will …
Report: California Self-Insured Workers’ Comp Claims Rose Only Slightly Last Year
Thu, 21 Jun 2018
California public self-insured workers’ compensation claims from fiscal year 2016-2017 rose less than 0.4 percent compared to the corresponding data from the prior year despite a 2.9 percent Increase in covered employees, according to a report out from the California …
Why Businesses Need to Plan for Aging Workforce
Thu, 21 Jun 2018
The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing surprisingly little to prepare to meet the challenges …
Marijuana Sales to Be Legal in Canada Starting in October: Trudeau
Thu, 21 Jun 2018
Marijuana sales will become legal in Canada beginning October 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use. Stocks of marijuana producers, which have rallied in anticipation of legalization, extended …
Connecticut’s Paragon Insurance Holdings Hires Fuller
Thu, 21 Jun 2018
Paragon Insurance Holdings LLC, a national, multi-line specialty managing general agency (MGA) based in Avon, Conn., has hired Tonya Fuller as vice president of its Winery and Brewery division. Additionally, Ashley Forslund has become a member of the Paragon team …
Alliant Employee Benefits Hires Kristofak in Virginia
Thu, 21 Jun 2018
Alliant Employee Benefits has hired Bob Kristofak. Kristofak is from the Richmond, Va.-area and will serve as Alliant Employee Benefits’ new senior vice president, working with a portfolio of clients to provide strategic employee benefits that reduce spending, increase performance …
Railroads, Airlines Seek to Bypass States’ Paid Sick Leave Laws
Thu, 21 Jun 2018
Fed up with state and local laws that require private employers to offer paid sick days, the airlines and railroads have filed suit, claiming that the interstate nature of their businesses should make them exempt. Airlines for America, a trade …
Exxon Still Isn’t Complying With Climate Subpoenas, New York Says
Thu, 21 Jun 2018
Exxon Mobil Corp. is refusing to turn over documents crucial to New York’s investigation into whether the oil giant’s public statements about climate change misled investors, the state’s top lawyer said. Exxon hasn’t complied with subpoenas for cash-flow projections reflecting …
Guggenheim Exploring Deal with Munich Re’s Asset Management Unit
Thu, 21 Jun 2018
Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds …
EU Parliament Panel Backs Stricter Copyright Rules Opposed by Tech Leaders
Thu, 21 Jun 2018
Google, Facebook , Microsoft and other tech giants could face more curbs on their market power after a European Parliament committee voted in favor of tougher copyright rules on Wednesday. The copyright rules, proposed by the European Commission two years …
Lewis Succeeds West as Leader of Chubb’s Mid-Market Commercial Lines; Rockwell Named Chief Underwriter
Thu, 21 Jun 2018
Chubb has appointed Paul Lewis North America Commercial Insurance Industry practice leader for its North American mid-market segment. He will be responsible for leading Chubb’s Commercial Insurance Industry practices in the United States and Canada, and will have oversight of …
Chilton to Return to Capsicum Re Later in This Year After Leaving Gallagher Role
Thu, 21 Jun 2018
Capsicum Re, the London-based specialist reinsurance broker, announced that Grahame “Chily” Chilton will rejoin the business later this year. Chilton will work alongside CEO Rupert Swallow to drive global business development and help shape the strategic direction of the company …
With Ambitions to Expand (and Disrupt Allianz), German Insurer DFV Weighs IPO
Thu, 21 Jun 2018
With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG [DFV] needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief …
Hamilton Underwriting Taps Chubb’s Lee-Amies as Head of Treaty at Syndicate 3334
Thu, 21 Jun 2018
Hamilton Underwriting Ltd., the managing agency of Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, announced that Neil Lee-Amies has joined the agency as head of Treaty. Lee-Amies reports to Active Underwriter Miles Osorio. Osorio and Adrian Daws …
Harvard’s Gawande Chosen to Lead Berkshire-Amazon-JPMorgan Health Initiative
Thu, 21 Jun 2018
Atul Gawande, a surgeon and journalist who has written extensively about the U.S. failure to grapple with rising healthcare spending, has been named to head a new health venture for Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. …
Florida’s Citizens Delays Decision on Proposed 2019 Rate Increases
Thu, 21 Jun 2018
Florida’s Citizens Property Insurance Corp. will wait until December to determine its 2019 insurance rates and whether it will approve a proposed 7.9 percent statewide increase for homeowners policies. The decision to defer action on the 2019 proposed rates came …
PAK Programs Launches Insurance for Meaderies
Thu, 21 Jun 2018
PAK Programs, specialty insurer of alcoholic beverage manufacturers and distributors, has introduced a program designed for mead producers, Meadery PAK. The program is underwritten by Great American Insurance Coy. Larry Chasin, president of PAK Programs Mead, said meaderies, which are …
Furlong Joins AmWINS Brokerage of Georgia
Thu, 21 Jun 2018
AmWINS Brokerage of Georgia has added Alex Furlong, an energy and environmental specialist, to its casualty team. He will be based in Atlanta. Prior to joining AmWINS, Furlong spent several years as a casualty producer at All Risks, Ltd. Before …
Cause of Fire at Family Dollar Store in Georgia Under Investigation
Thu, 21 Jun 2018
Multiple people have been taken to a hospital after a fire broke out at a Family Dollar in Georgia. The Atlanta Journal-Constitution reports the fire happened at a Family Dollar in Dekalb County on Monday morning. Four people inside the …
Zenefits in California Names Vaughn as Senior Vice President of Business Operations
Wed, 20 Jun 2018
San Francisco, Calif.-based Zenefits has named Issac Vaughn to its executive team as senior vice president of business operations. He reports to Jay Fulcher, chairman and CEO. Vaughn will work with the Zenefits’ customer experience, benefits solutions, business development, legal …
PEMCO in Washington Adds Farmer, Jameson
Wed, 20 Jun 2018
PEMCO Insurance has named Noel Farmer to the company’s infrastructure and operations team, where he’ll lead and manage PEMCO’s internal technical support group. PEMCO has also named Rebecca Jameson a product manager for its auto line of business. Farmer’s primary …
Illnesses at Houston Workplace Blamed on Carbon Monoxide
Wed, 20 Jun 2018
About two dozen people have been treated for apparent carbon monoxide poisoning at a Houston food distribution center. Firefighters were summoned to the center along the city’s Produce Row after workers reported experiencing nausea, headache and dizziness. Authorities say they …
State Farm to Cut Auto Insurance Rates in Missouri
Wed, 20 Jun 2018
State Farm Mutual Automobile Insurance Co. plans to lower auto insurance rates rates in Missouri by 3 percent overall. The company said the total statewide savings for all State Farm customers affected by this rate decrease in Missouri will be …
Buffett’s Geico to Open Service Center in Lenexa, Kansas, Create 500 Jobs
Wed, 20 Jun 2018
Business icon Warren Buffett plans to open a new Geico Insurance service center that will bring 500 jobs to Lenexa, Kansas. The Kansas City Area Development Council said in a news release that the center will open in August and …
Texas Attorney Charged with Workers’ Compensation Fraud
Wed, 20 Jun 2018
Workers’ compensation insurer, Texas Mutual Insurance Co. reported that a Travis County grand jury has indicted attorney Leslie Casaubon of Lewisville, Texas, on three counts of workers’ compensation fraud-related charges The indictment alleges that, from 2010 to 2014, Casaubon billed …
Weiss Ratings Names Strongest, Weakest Homeowners Insurers in Texas
Wed, 20 Jun 2018
Palm Beach Gardens, Florida-based Weiss Ratings has named the six strongest providers of homeowners insurance doing business in Texas that are financially ready for the 2018 hurricane season. At the same time, Weiss Ratings has identified seven weak insurance companies …
At Least One Dead in Widespread Flooding in Midwest
Wed, 20 Jun 2018
Widespread flooding in the Upper Midwest was blamed for at least one death in Wisconsin, while disaster declarations were issued Monday in northern Michigan after flash-flooding washed out roads, damaged businesses and caused dozens of sinkholes. The body of a …
Amwins’ Davies Tapped to Lead New Property Underwriting Facility for Ryan Specialty Group
Wed, 20 Jun 2018
Chicago-based Ryan Specialty Group LLC (RSG) has named Katie Davies as president and CEO of a new, yet-to-be-named property catastrophe managing underwriting facility that will be exclusive to RT Specialty. Company spokesperson Alice Topping said the facility is in its …