Insurance News
Alera Group Selects Englert as National P&C Leader
Wed, 19 Jun 2019
Alera Group, a national employee benefits, property/casualty, risk management and wealth management firm based in Deerfield, Illinois, has appointed Mark Englert as national property/casualty practice leader. Englert will be responsible for continuing Alera Group’s path toward building world-class property/casualty solutions. …
Higginbotham in Texas Buys Commercial Insurance Unit of Extraco Banks
Wed, 19 Jun 2019
Extraco Banks has sold its commercial insurance operation to Fort Worth, Texas-based independent insurance broker, Higginbotham. Extraco Insurance is a group of five property/casualty insurance professionals operating in Waco, Temple and Hamilton, Texas, for 19 years. The group will continue …
Company Cited, Fined $341K After Fatality at Texas Tire Retreading Facility
Wed, 19 Jun 2019
A Mississippi company faces more than $341,000 in penalties for failing to protect employees from serious safety hazards, a practice that led to a worker’s death at a plant in Texas, federal safety officials say. The U.S. Department of Labor’s …
Chicago Staffing Firm to Pay $50K to Settle Sex Harassment Lawsuit
Wed, 19 Jun 2019
Chicago-based Staff Management | SMX (SMX), which provides temporary employees to the light-industrial sector worldwide, will pay $50,000 to a female former employee and furnish other relief to settle a sexual harassment lawsuit filed by federal officials. The U.S. Equal …
Midwestern Floodwaters Harming Louisiana, Mississippi Seafood Businesses
Wed, 19 Jun 2019
This is a bad year for people who make their living from seafood in Louisiana and Mississippi. Floods from the Midwest are killing oysters, and driving crabs, shrimp and finfish out of bays and marshes, into saltier water where they …
Viewpoint: Fixing America’s Flood Insurance Problem in 5 Steps
Wed, 19 Jun 2019
The National Flood Insurance Program (NFIP) was originally created by Congress to transfer U.S. flood insurance risk to private insurers. However, in 1978, (when private insurance carriers assumed over 40 percent of the nation’s flood insurance risk), NFIP administrators used …
Facebook Plans Global Cryptocurrency, Entry into Financial Services
Wed, 19 Jun 2019
Facebook Inc. announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, …
State Regulators Reviewing Proposed Sale of Workers’ Comp Specialist Applied Underwriters
Wed, 19 Jun 2019
A possible sale of workers’ compensation specialist Applied Underwriters looks to be a step closer to reality. The California Department of Insurance is reviewing an application for the sale of the Calif.-based Berkshire Hathaway subsidiary. CDI officials confirmed with Insurance …
Tower Hill Specialty Adds Coverage Options in Mississippi
Wed, 19 Jun 2019
Tower Hill Specialty has further expanded into the Southeast and is now offering manufactured housing and dwelling fire insurance policies in Mississippi. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown option provides coverage for items …
10 Arrests Made in Florida Unlicensed Contractor, Workers’ Comp Fraud Sting
Wed, 19 Jun 2019
Ten individuals have been arrested in a three-day unlicensed contracting and workers’ compensation fraud sting in Pinellas County, Fla., according to a statement from Florida CFO Jimmy Patronis. The joint operation between fraud detectives with the Florida Department of Financial …
Kentucky Bourbon Warehouse Damaged in Partial Collapse
Wed, 19 Jun 2019
Part of a bourbon warehouse in western Kentucky collapsed during a thunderstorm. News outlets report the partial collapse of the O.Z. Tyler Distillery rickhouse was reported early Monday. Master Distiller Jacob Call says around 20,000 barrels are stored at the …
Weather Service: 9 Confirmed Tornadoes Hit Central Indiana over Weekend
Tue, 18 Jun 2019
The National Weather Service says at least nine tornadoes struck Indiana, damaging a school and other buildings and downing trees. It says three EF2 tornadoes with winds up to 130 mph (210 kph) struck Greene, Monroe and Rush counties during …
Chubb to Partner with National Association of Women Business Owners
Tue, 18 Jun 2019
The National Association of Women Business Owners (NAWBO) has partnered with Chubb to provide NAWBO members with small business insurance resources, including education, insurance products and services generally reserved for global corporations, including Chubb’s Cyber Enterprise Risk Management policy. According …
4 Arkansas Counties Cleared to Get Disaster Assistance
Tue, 18 Jun 2019
The Federal Emergency Management Agency says four more counties in Arkansas have been approved for disaster assistance as a result of damage from storms and flooding that began May 21. Heavy rains produced record flooding in the state, especially along …
Rain Leaves Midwest Veggie Farmers Struggling With No Aid on Horizon
Tue, 18 Jun 2019
Like farmers throughout the Midwest, this spring’s torrential rains turned Andrew Dunham’s land into sticky muck that set him back nearly a month in planting his crops. Unlike other farmers, though, Dunham won’t get a piece of a $16 billion …
State of the Cyber Insurance Market— Top Trends, Insurers and Challenges: A.M. Best
Tue, 18 Jun 2019
The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about 10 percent in 2018 from $1.8 billion …
$10M Claim Says Police in Arizona Violated Family’s Rights
Tue, 18 Jun 2019
A $10 million legal claim was filed against the city of Phoenix that says police officers committed civil rights violations by pointing guns and profanely yelling commands at the father and pregnant mother of two young daughters because one of …
Hub International Acquires Foster & Parker Insurance Agency in California
Tue, 18 Jun 2019
Hub International Ltd. has acquired Foster & Parker Insurance Agency Inc. Terms of the deal were not disclosed. Steve Barsotti, president of Foster & Parker Insurance, and the staff will join Hub California. Foster & Parker Insurance is an independent …
Stringent Climate Policy Poised to Pass in Oregon
Tue, 18 Jun 2019
Oregon is on the precipice of becoming the second state after California to adopt a cap-and-trade program, a market-based approach to lowering the greenhouse gas emissions behind global warming. Supporters call it the United States’ most progressive climate policy, saying …
Cal/OSHA Cites Solar Panel Installer $193K for Willful Fall Protection Violation
Tue, 18 Jun 2019
Cal/OSHA has cited an Anaheim, Calif. solar panel installation company $193,905 for multiple serious workplace safety hazards including one willful serious accident-related violation, following an investigation of a worker who was seriously injured after they fell from the roof of …
Professional Insurance Agents of New Jersey Elects Blum President
Tue, 18 Jun 2019
Professional Insurance Agents of New Jersey (PIANJ) has elected Bruce Blum of Somerset, N.J., president at the association’s annual business meeting at Harrah’s in Atlantic City. Blum is owner of Blum & Walsh Group Inc., a division of T.E. Freuler …
New York Senator Schumer Calls for Repairs to Lake Ontario Infrastructure
Tue, 18 Jun 2019
New York Senator Chuck Schumer plans to call on the Army Corps of Engineers to provide funding for repairs to flood-ravaged infrastructure at Little Sodus Bay Harbor on Lake Ontario. A pier and a barrier bar began to collapse in …
Sen. Rubio Bill Would Block Patent Damage Claims by Foreign Firms on Watch List
Tue, 18 Jun 2019
U.S. Senator Marco Rubio filed legislation on Monday that would prevent Huawei Technologies Co. Ltd. from seeking damages in U.S. patent courts, after the Chinese firm demanded that Verizon Communications Inc. pay $1 billion to license the rights to patented …
Operator Cleared of Fault in Boston Red Line Derailment
Tue, 18 Jun 2019
Transit officials say the operator of a Red Line train that derailed in Boston this week was not at fault in the mishap. An MBTA spokesman tells The Boston Globe that the investigation into last Tuesday’s derailment, the second within …
Spragg Named President of Berkley Select
Tue, 18 Jun 2019
W.R. Berkley Corp. announced the appointment of Daniel R. Spragg as president of its specialty unit, Berkley Select. Spragg has 30 years of experience in the specialty insurance and insurance consulting industries. He most recently served as founding partner of …
MS Amlin Names RSA’s Vogiatzidou as Senior Marine Underwriter in Dubai
Tue, 18 Jun 2019
MS Amlin, the London-based re/insurer, announced the appointment of Mary Vogiatzidou to the role of senior marine underwriter. Vogiatzidou will be based in MS Amlin’s Dubai office and will be responsible for the continued development and growth of the marine …
Digital Car Repair Platform Fixico Raises €7M to Expand Internationally
Tue, 18 Jun 2019
Fixico, the Amsterdam-based digital platform for car damage repair, has raised €7 million ($7.9 million) to grow its international footprint and fleet and insurance partnerships. The technology company offers a digital platform that seamlessly handles car repair for consumers, insurers, …
Arthur J. Gallagher Acquires Australia Workplace Risk Consultant P2 Group
Tue, 18 Jun 2019
Arthur J. Gallagher & Co. announced the acquisition of Hawthorn, Victoria-based P2 Group. Terms of the transaction were not disclosed. Founded in 2003, P2 Group helps employers proactively manage occupational health and reduce the risk of worker injuries and WorkCover …
Lloyd’s of London Aims to Revamp Auto Coverage as Era of Driverless Cars Looms
Tue, 18 Jun 2019
Lloyd’s of London, the 330-year-old insurance market, is pushing to revamp auto coverage as the rise of driverless cars looms. Chief Executive Officer John Neal said that Lloyd’s is talking with automakers about how to set up different policies to …
China’s Fosun Eyes Purchase of Bayer’s Animal Health Business: Sources
Tue, 18 Jun 2019
Fosun International Ltd. is considering a bid for Bayer AG’s animal-health business, people familiar with the matter said, a move that could mark a return to big-ticket deals for the Chinese conglomerate backed by billionaire Guo Guangchang. Fosun has held …