Thu, 02 Apr 2020 16:58:09 +0000
Florida Governor Ron DeSantis issued a statewide executive order Wednesday requiring all citizens in the state to stay at home except for those doing essential business or activities. The move comes as the state has more than 8,000 cases of …
Thu, 02 Apr 2020 16:07:55 +0000
A tractor-trailer hauling toilet paper crashed and caught fire near Dallas early Wednesday, spilling the hot commodity all over an interstate. The fire shut down westbound lanes of Interstate 20 near Interstate 45 in Hutchins, the Texas Department of T...
Thu, 02 Apr 2020 16:06:34 +0000
An earthquake struck north of Boise, Idaho, on Tuesday evening, with people across a large area reporting shaking. The U.S. Geological Survey reports the magnitude 6.5 temblor struck just before 6 p.m. It was centered 73 miles northeast of Meridian, …
Thu, 02 Apr 2020 16:04:44 +0000
Plans to demolish the Hard Rock Hotel in New Orleans, which partially collapsed in October, remain in limbo as the city and developers disagree over how to safely bring down the structure. Among other things, the demolition plan is hampered …
Thu, 02 Apr 2020 15:59:52 +0000
Horace Mann Educators Corp. has appointed Senior Vice President and Chief Corporate Actuary Mark Desrochers as head of the company’s property/casualty insurance business on an acting basis. Desrochers will take over from William Caldwell, who has resig...
Thu, 02 Apr 2020 15:20:17 +0000
Thousands of U.S. banks, including some of the country’s largest lenders, have said they may not participate in the federal government’s small-business rescue program due to concerns about taking on too much legal and financial risk, five people with d...
Thu, 02 Apr 2020 15:12:57 +0000
COVID-19 could produce a big increase in social inflation, according to A.M. Best. The reason: expectations that businesses will sue their insurers in an attempt to access their business interruption coverage for losses relating to the coronavirus pand...
Thu, 02 Apr 2020 12:40:07 +0000
Doctors and hospitals overwhelmed in the pandemic will have to make their excruciating life-or-death decisions meticulously or they risk being second-guessed by a jury when the onslaught is over. Lawyers who defend health care providers are already giv...
Thu, 02 Apr 2020 12:20:18 +0000
The Massachusetts Division of Insurance has approved a 6.8% reduction in the existing overall average workers’ compensation insurance rates for policies effective on and after July 1, 2020. The rate decrease was the result of a compromise reached by the …
Thu, 02 Apr 2020 12:17:30 +0000
Everest Re Group Ltd. has hired Dana Lodge as chief financial officer of Everest Insurance, reporting to Everest Insurance President and CEO Jonathan Zaffino as well as Everest Group CFO Craig Howie. Lodge will be based at the company’s U.S. …
Thu, 02 Apr 2020 12:10:59 +0000
World Insurance Associates LLC (WIA) acquired Mazzotta Insurance Agency of Providence, R.I., on March 1, 2020. Terms of the transaction were not disclosed. Since 1968, Mazzotta Insurance Agency has been a family-run business serving the Providence comm...
Thu, 02 Apr 2020 11:53:24 +0000
Aon plc, the global re/insurance broker, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) insurers. The new bind feature en...
Thu, 02 Apr 2020 10:03:07 +0000
Lemonade, the New York-based insurer that is powered by artificial intelligence, has launched in a second European country – the Netherlands. Dutch consumers can now get contents and liability insurance instantly, anytime, and from any device – as ...
Thu, 02 Apr 2020 09:00:10 +0000
The fallout from the coronavirus pandemic and tumbling oil prices threaten the earnings of insurers in the Gulf, S&P Global Ratings said on Wednesday, possibly leading to negative rating actions. “Most insurers we rate in the GCC [Gulf Cooperation Coun...
Thu, 02 Apr 2020 08:25:12 +0000
Initial insured losses for the floods that hit the UK in February are estimated at £297 million (US$367.8 milion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. These floods main...
Thu, 02 Apr 2020 07:54:13 +0000
The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge of the plan said on Wednesday. Under ...
Thu, 02 Apr 2020 07:20:46 +0000
UK companies may let out a “sigh of relief” after Barclays Plc and Wm Morrison Supermarkets Plc won a pair of Supreme Court cases that drastically limit corporate responsibility for employee conduct. First, the court said Morrisons wasn’t responsible f...
Thu, 02 Apr 2020 06:41:45 +0000
Ali Shahkarami (46) has been appointed as chief data officer for Allianz Global Corporate & Specialty (AGCS). In this newly created position, he will be responsible for the development and the delivery of AGCS data strategy and will report directly …
Thu, 02 Apr 2020 06:24:23 +0000
A major flood control structure on the Mississippi River may have to soon be opened up to ease pressure on New Orleans levees, federal authorities said on March 31. The river is expected to crest above 17 feet (5.2 meters) …
Thu, 02 Apr 2020 06:14:08 +0000
With flood concerns already high in the Midwest, the U.S. Army Corps of Engineers is warning that many levees on the Missouri and Kansas rivers that were damaged during devastating floods last spring remain vulnerable to high water. The National …
Thu, 02 Apr 2020 06:05:50 +0000
Blue Sky Vision L.L.C., a Delaware-based management services organization that provides support to eye care providers, has been sued by federal employment officials for employee disability discrimination at a facility in Grand Rapids, Mich. The U.S. Eq...
Thu, 02 Apr 2020 05:52:18 +0000
An apparent tornado slammed into an Alabama neighborhood, shattering more than a dozen homes Tuesday while people were hunkered down inside because of the coronavirus outbreak, as storms caused damage from Mississippi to Georgia. Near the Alabama-Georg...
Thu, 02 Apr 2020 05:23:31 +0000
Legislation offering relief to workers and employers suffering economic damage from the coronavirus pandemic was signed by Kentucky Gov. Andy Beshear on Monday. The bill was put on the fast track by lawmakers last week as the Bluegrass State deals …
Thu, 02 Apr 2020 05:03:36 +0000
San Miguel Mountain Ventures LLC, which does business as Telluride Express in Montrose, Colo., has been sued by the U.S. Equal Employment Opportunity Commission (EEOC) for refusing to hire a job applicant because of his age. According to the EEOC’s …
Thu, 02 Apr 2020 05:00:55 +0000
Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say. Two cases ...
Thu, 02 Apr 2020 00:11:05 +0000
Oklahoma City-based American Farmers & Ranchers Mutual Insurance Co. (AFRMIC) has appointed Jon D. Srna as the company’s next chief executive officer. He assumes the leadership position on April 20. Srna brings broad expertise in personal lines insuran...
Wed, 01 Apr 2020 22:21:32 +0000
California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million for igniting a series of Northern California 2018 deadly wildfires rather than risk that the harsher punishment will...
Wed, 01 Apr 2020 16:54:08 +0000
Marsh subsidiary Marsh & McLennan Agency LLC (MMA) has acquired Schaumburg, Illinois-based Assurance Holdings Inc. Terms of the acquisition were not disclosed. Founded in 1961, Assurance is a full-service brokerage providing business insurance, employe...
Wed, 01 Apr 2020 16:37:30 +0000
Two Texas oil companies with large footprints in the West Texas oil patch have sent a letter to state regulators formally requesting an emergency meeting to consider reducing oil production as demand for oil around the world has collapsed during …
Wed, 01 Apr 2020 16:22:30 +0000
In early March, well before stay at home orders were enacted in states and communities across the country, Tony Caldwell recognized that COVID-19, the disease created by the new coronavirus, was going to have a huge impact on life in …