November 12, 2019
Tue, 12 Nov 2019 18:27:35 +0000
California Department of Insurance detectives this week arrested insurance agent Mark Lynch, 40, on 13 felony counts of grand theft, embezzlement, and money laundering after allegedly collecting over $72,425 in insurance premium payments from five clie...
Tue, 12 Nov 2019 18:21:18 +0000
WCF Insurance has promoted Chris Closser to California regional vice president. Closser is located in WCF’s Roseville, Calif., office. She will report to Kevin Petersen, senior vice president of the sales and distribution department, and will manage th...
Tue, 12 Nov 2019 18:16:22 +0000
The prevalence of opioids in California workers’ compensation lost-time claims has dropped 51% over the past decade, reducing both average benefit payments and average days away from work on those claims, according to a new study released by the Califo...
Tue, 12 Nov 2019 17:06:12 +0000
North Dakota Insurance Commissioner Jon Godfread has been named World’s Tallest Politician (male) by Guinness World Records. Godfread’s official height is 6 feet, 10 inches (210.767 centimeters) tall as verified in Bismarck on Oct. 4, 2019, the North D...
Tue, 12 Nov 2019 16:58:35 +0000
Proposed rate increases for both private passenger and commercial auto insurance rates have been approved for the Texas Automobile Insurance Plan Association (TAIPA). The Texas Department of Insurance granted TAIPA’s filing for a 4.9% increase private ...
Tue, 12 Nov 2019 16:06:28 +0000
The U.S. Supreme Court dealt a blow to the gun industry, refusing to block a lawsuit against Remington Arms Co. by family members of nine people killed in the 2012 Sandy Hook Elementary School massacre. The lawsuit blames the gunmaker’s …
Tue, 12 Nov 2019 16:00:51 +0000
O.J. Simpson is suing a Las Vegas hotel-casino that banned him in November 2017, alleging that unnamed employees defamed him by telling a celebrity news site he had been drunk, disruptive and unruly. Simpson, on parole in Nevada for a …
Tue, 12 Nov 2019 15:57:54 +0000
If you’re worried that wildfires might have created shortages of Northern California’s 2019 cabernet sauvignon, or even just imparted it with an undesirable smoky flavor, you can relax. The wine is just fine. For now. Despite a late October blaze …
Tue, 12 Nov 2019 15:48:53 +0000
PG&E Corp. wildfire victims have filed a new lawsuit arguing they must be fully repaid for the losses of their homes and businesses before fire insurers are as part of the utility’s bankruptcy. The case takes aim at an $11 …
Tue, 12 Nov 2019 15:46:53 +0000
Workers’ compensation insurtech Pie Insurance has launched its first national television advertisement campaign with an initial focus in California. The two 30-second spots depict Pie coming to the rescue, interrupting the routine of small business own...
Tue, 12 Nov 2019 14:26:51 +0000
Pool Re, Britain’s government-backed terrorism reinsurer, has launched of Pool Re “Solutions,” a specialist unit created to support its member insurers and their policyholders by sharing the understanding and partnerships it has established over 25 yea...
Tue, 12 Nov 2019 13:59:46 +0000
Zego has become the first ever U.K. insurtech to be awarded its own insurance license, which will enable it to build and sell its own products. While Zego will still work in tandem with its growing network of insurer partners, …
Tue, 12 Nov 2019 13:43:17 +0000
Ongoing rate increases and reductions in capacity are taking shape in most property/casualty commercial lines in the fourth—and for some, will continue into the new year, according to a recent report from broker USI Insurance Services. Only one lineâ...
Tue, 12 Nov 2019 13:39:43 +0000
The Insurance Council of Australia (ICA) on Nov. 9 declared a catastrophe for the bushfires blazing in northern New South Wales. The catastrophe declaration is for communities on the mid-north coast affected by bushfires that have reportedly destroyed ...
Tue, 12 Nov 2019 12:58:07 +0000
A New Jersey man is not going to prison for orchestrating a slip and fall insurance scam. Under terms of a plea agreement, a judge on Monday instead sentenced 58-year-old Alexander Goldinsky to probation, community service and ordered him to …
Tue, 12 Nov 2019 12:55:13 +0000
A uniformed New York Police Department officer and five dispatchers are among those charged in a car insurance scam that authorities say compromised the personal information of 60,000 vehicle accident victims and tried to exploit people from low-income...
Tue, 12 Nov 2019 12:51:55 +0000
Markel Corporation and VSC Fire & Security Inc. have entered into a definitive agreement for Markel to acquire VSC. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2019. Additional terms …
Tue, 12 Nov 2019 12:47:06 +0000
Brazil’s mining regulator on Tuesday blasted iron ore miner Vale SA for failing to disclose problems with a mining dam before a deadly collapse in January, saying this kept the agency from taking actions that could have saved lives. The …
Tue, 12 Nov 2019 12:43:21 +0000
Ben & Jerry’s has been sued by an environmental advocate who said it deceived consumers by touting that the milk and cream it uses to make ice cream came exclusively from “happy cows.” In a complaint filed last week, James …
Tue, 12 Nov 2019 11:56:44 +0000
Guy Carpenter announced the appointment of Robert Johnston as chairman of Guy Carpenter’s Bermuda operations, and Peter Komposch as head of Casualty and Specialty, Bermuda, with immediate effect. Johnston has nearly 20 years’ experience in Bermuda, mos...
Tue, 12 Nov 2019 11:33:25 +0000
A ransomware attack hit computer servers and halted administrative work on Monday at Mexican state oil firm Pemex, according to employees and internal emails, in hackers’ latest bid to wring ransom from a major company. Hackers have increasingly target...
Tue, 12 Nov 2019 10:37:37 +0000
Australia is bracing for another week of devastating bushfires, with swaths of the eastern seaboard and even areas of greater Sydney facing a “catastrophic” threat that’s unprecedented at this time of year. It’s the first time authorities have set the …
Tue, 12 Nov 2019 07:33:17 +0000
The Actuarial & Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) will meet Tuesday, Nov. 19 at 1:30 pm for review and possible action regarding development of recommendations to the association’s board of directors concerning ...
Tue, 12 Nov 2019 07:31:49 +0000
Picturesque, and at times, worrisome. The Muskingum University dam in OHio holds back what locals call “College Lake” on the campus of the private liberal arts college. Perched directly over the inlet to the lake’s spillway is a wooden gazebo …
Tue, 12 Nov 2019 07:26:42 +0000
Vertus Insurance Partners, a Florida-based managing general agent and provider of specialized catastrophic risk protection insurance products is entering the Texas marketplace with its homeowners’ hurricane deductible reimbursement products. The compan...
Tue, 12 Nov 2019 07:19:18 +0000
Norman-Spencer, a Dayton, Ohio-based property/casualty program administrator and wholesale brokerage, has appointed Dave Cox as managing director of the Transportation Division. Cox brings over 30 years of experience exclusively in the transportation i...
Tue, 12 Nov 2019 06:00:55 +0000
It’s nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 …
Tue, 12 Nov 2019 06:00:41 +0000
Insurance program manager Victor O. Schinnerer and Co. has rebranded as Victor US. The announcement completes the larger global unification and rebranding of The Schinnerer Group to Victor Insurance Holdings that was begun in 2018. Last month, as part ...
Tue, 12 Nov 2019 06:00:16 +0000
Juul Labs Inc. was sued for collecting biometric data from its online customers as a method of verifying they are legally old enough to buy vaping products. The company was accused in a complaint filed last Thursday in Illinois of …
Tue, 12 Nov 2019 05:45:58 +0000
An explosion and fire have damaged a hemp processing plant in Kentucky. Clark County Fire Chief Ernie Barnes told WKYT-TV that crews were dispatched Thursday night to the GenCanna facility in Winchester and arrived to find a large fire at …