July 16, 2020
Thu, 16 Jul 2020 09:15:26 +0000
Switzerland’s insurance industry is against tightening the country’s immigration rules, a move that will be put to voters this year, Swiss Re Chief Executive Christian Mumenthaler told Handelszeitung newspaper. Mumenthaler is the latest business figure...
Thu, 16 Jul 2020 08:50:11 +0000
A Florida judge has recommended the Florida Supreme Court deny the motion to dissolve the suspension of a Florida attorney who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over …
Thu, 16 Jul 2020 07:12:18 +0000
South Africa’s Prudential Authority expects that business-interruption claims linked to the Covid-19 pandemic poses little systemic risk to the insurance industry. The regulator is in talks with the country’s Financial Sector Conduct Authority and insu...
Thu, 16 Jul 2020 06:53:11 +0000
Global reinsurance capital fell 6% to $590 billion for the first quarter of 2020, Aon reported in its June/July Reinsurance Market Outlook report. The report, which also looks at changes in reinsurance demand levels, hot-button reinsurance wording them...
Thu, 16 Jul 2020 06:16:52 +0000
North Carolina’s highest court has temporarily blocked a judge’s ruling that allowed dozens of North Carolina’s bowling alleys to reopen by overturning a portion of Gov. Roy Cooper’s COVID-19 executive order keeping them closed. On Tuesday, the state S...
Thu, 16 Jul 2020 05:39:41 +0000
Typically each spring, a crop of fresh college graduates enters the workforce, making the critical first steps to determine personal and professional paths. Today, the job landscape differs greatly from what it was even a year ago, and not just …
Thu, 16 Jul 2020 05:28:31 +0000
The COVID-19 pandemic has created challenges for many businesses across the globe, including the insurance industry. But so far, the insurance broker merger and acquisition (M&A) market has remained active even as the pandemic continues to unfold. Befo...
Thu, 16 Jul 2020 05:00:38 +0000
A federal judge dismissed lawsuits by Grand Princess cruise ship passengers who sued for emotional distress caused by their fear of exposure to COVID-19, saying that allowing their cases to proceed would “lead to a flood of trivial suits.” Judge …
Thu, 16 Jul 2020 05:00:25 +0000
Even though accelerating hard market conditions may seem ideal for a growing crop of professionals with designs on starting up insurance and reinsurance companies, garnering AM Best ratings still won’t be easy for newbies. Capital is coming into the in...
Thu, 16 Jul 2020 05:00:12 +0000
Coastal communities in the U.S. continued to see record-setting high-tide flooding last year, forcing their residents and visitors to deal with flooded shorelines, streets and basements — a trend that is expected to continue into 2021. The elevated w...
Thu, 16 Jul 2020 05:00:10 +0000
San Francisco, Calif.-based Coalition has named Marcin Weryk head of business development. Weryk will support growth by driving the company’s distribution strategy. Weryk has more than 15 years of insurance industry experience. He was most recently vic...
Wed, 15 Jul 2020 22:01:26 +0000
CIA-Leavitt Insurance Agency has acquired Goetz Insurors in Fort Morgan, Colo. Terms of the deal were not disclosed. Goetz Insurors provides insurance to north eastern Colorado and offers an equine insurance program through the U.S. CIA-Leavitt Insuran...
Wed, 15 Jul 2020 19:56:31 +0000
Arthur J. Gallagher & Co. has acquired Los Angeles, Calif.-based Boldt Risk Management Solutions. Terms of the deal were not disclosed. The BRMS team will join with Gallagher’s Glendale and Irvine offices, under the direction of Melissa Cerny, area pre...
Wed, 15 Jul 2020 17:48:50 +0000
Washington Insurance Commissioner Mike Kreidler reached out to insurance company CEOs in a letter and urged them to stand behind their recent pledges to end discrimination and racial inequities by supporting his proposal to ban the unfair practice of u...
Wed, 15 Jul 2020 16:55:34 +0000
West Virginia Gov. Jim Justice moved Monday to close bars in the state’s largest college town and reimpose restrictions on large gatherings as coronavirus cases rise to record levels. Justice, a Republican, ordered bars in Monongalia County to close at …
Wed, 15 Jul 2020 16:47:02 +0000
Three workers have been injured at a West Virginia chemical plant, officials said. The incident happened Sunday evening at the Westlake Chemical plant, which produces chlorine, news outlets reported. Details of what happened at the Marshall County faci...
Wed, 15 Jul 2020 16:33:06 +0000
Job loss stemming from the coronavirus stripped health insurance from an estimated 659,000 Texans between February and May, according to a new study. The analysis, published on July 14 by Families USA, a nonpartisan consumer advocacy group, found that ...
Wed, 15 Jul 2020 16:25:30 +0000
Veterans who passed any Texas insurance exam since early 2019 can now get reimbursed for the fee after the U.S. Department of Veteran Affairs approved the state’s request, the insurance department said. Veterans may seek reimbursement of exam fees going …
Wed, 15 Jul 2020 16:20:08 +0000
Cincinnati Financial Corp. says its consolidated second-quarter results are expected to include pretax catastrophe losses of approximately $231 million – adding 16.5 percentage points to the quarterly combined ratio based on estimated property casual...
Wed, 15 Jul 2020 16:14:38 +0000
A construction worker was struck and killed by a commercial truck along a highway in Wisconsin’s Columbia County, according to sheriff’s officials. The 29-year-old man was working in a construction zone on Highway 151 near Columbus Monday when he was …
Wed, 15 Jul 2020 15:53:27 +0000
Valley Insurance Agency Alliance (VIAA), a network of independent insurance agencies in Missouri and Illinois, has named Amy Russell as small commercial marketer. Russell has more than 20 years of experience in the insurance and marketing industries. S...
Wed, 15 Jul 2020 15:51:39 +0000
Overhaul, an Austin, Texas-based supply chain visibility and risk management technology provider, has added former senior vice president of Great American Insurance Group, Lloyd J. “Pat” Stoik as chief risk officer. In his new role as chief risk office...
Wed, 15 Jul 2020 15:51:31 +0000
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Rainer Rieger as head of Casualty Germany. Rieger, who has worked with the company since 2015, is replacing Detlef Offenhau who recently retired from the role. “Raine...
Wed, 15 Jul 2020 15:30:57 +0000
Arch Capital Group Ltd. has estimated a range of pre-tax catastrophe losses of $205 million to $225 million in the second quarter of 2020 across its property casualty insurance and reinsurance segments. Included in these estimates is a range of …
Wed, 15 Jul 2020 15:15:32 +0000
Catastrophe modeling firm AIR Worldwide announced that, as part of its Touchstone 2020 software release, clients now can access a premium international address-level geocoding feature to enhance the quality of their exposure data. The geocoding is prov...
Wed, 15 Jul 2020 14:00:12 +0000
A vacation rental association and four homeowners have filed a federal lawsuit against the county of Maui claiming their rights have been violated by restrictions placed on short-term vacation rentals on the Hawaiian island of Molokai. In a statement r...
Wed, 15 Jul 2020 13:51:11 +0000
A Los Angeles company that runs 27 nursing homes has agreed to pay $16.7 million to settle allegations of Medicare fraud, the U.S. attorney’s office announced. Longwood Management Corp. didn’t acknowledge any wrongdoing but it did agree to undergo an …
Wed, 15 Jul 2020 13:37:30 +0000
There were 288 announced insurance agency mergers and acquisitions during the first half of 2020, down from 328 in 2019, according to a report from OPTIS Partners. It was the lowest six-month period total since 2017. “Some of the active …
Wed, 15 Jul 2020 13:34:31 +0000
When Mark McCurdy informed Maryland Auto Insurance’s Board of Trustees in July 2019 of his intention to retire this year, he never imagined that the few months ahead of his retirement would involve leading the organization through a global pandemic. …
Wed, 15 Jul 2020 13:24:03 +0000
Skin-whitening creams identified as containing potentially dangerous levels of mercury continue to be sold online more than seven months after a watchdog group raised the alarm, including on platforms run by eBay, Amazon.com and Alibaba, a Reuters revi...