December 10, 2018

Mon, 10 Dec 2018 17:54:27 +0000
A massive storm brought snow, sleet, and freezing rain across a wide swath of the South on Sunday – causing dangerously icy roads, immobilizing snowfalls and power losses to hundreds of thousands of people. North Carolina Gov. Roy Cooper strongly …
Mon, 10 Dec 2018 17:38:06 +0000
Arthur J. Gallagher & Co. has acquired Chicago-based Captive Insurance Company Design and Operations. Terms of the transaction were not disclosed. Formed in 2002 by Clarity Group Inc., Captive Insurance Company Design and Operations is a captive consul...
Mon, 10 Dec 2018 17:36:00 +0000
Three firms are increasing their investments in Acrisure LLC, the Caledonia, Michigan-based insurance brokerage announced. Acrisure said a group of investors led by funds managed by Blackstone’s GSO Capital Partners and Tactical Opportunities businesse...
Mon, 10 Dec 2018 17:22:51 +0000
Jurors have awarded a New York medical student $3 million after she suffered a gruesome toe injury while riding an escalator at an Arkansas mall. The Arkansas Democrat-Gazette reports that a Pulaski County jury has ruled that 27-year-old Aisha Siddiqui …
Mon, 10 Dec 2018 17:18:25 +0000
The famous “jog” through the heart of Correctionville, Iowa, suffered a bit of a stumble in recent days. Make that stumbles. Plural. On Nov. 23, and again on Nov. 28, vehicles slid or rolled straight south on Driftwood, failing to …
Mon, 10 Dec 2018 17:16:41 +0000
The Pennsylvania Supreme Court has ruled that an employer has a legal duty to use reasonable care in safeguarding its employees’ sensitive personal information stored on an internet-accessible computer. This vacates earlier Trial Court and Superior Cou...
Mon, 10 Dec 2018 17:15:10 +0000
Medical payments per workers’ compensation claim in Texas decreased from 2014 to 2016 for claims with more than seven days of lost time, evaluated as of 2017, according to a recent study by the Workers Compensation Research Institute (WCRI). This …
Mon, 10 Dec 2018 17:11:16 +0000
The cost to curtail damaging flooding across Texas over the next 10 years is more than $31.5 billion and state officials are urging lawmakers to adopt legislation meant to end a cycle of “repairing and rebuilding,” according to a series …
Mon, 10 Dec 2018 15:45:25 +0000
Commercial insurance prices in the U.S. increased by more than two percent in the third quarter of 2018, according to the Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies written dur...
Mon, 10 Dec 2018 15:42:03 +0000
A Portland, Ore. lawyer whose home and business were seriously damaged when a fire started at a homeless camp has filed a $541,000 lawsuit against the city. Raylynna Peterson’s lawsuit filed last week says the city forced campers to move …
Mon, 10 Dec 2018 15:39:33 +0000
Last week’s magnitude 7.0 earthquake near Anchorage caused multiple problems at the sprawling Joint Base Elmendorf-Richardson, including damage to steel frameworks, ceilings, and sprinkler and heating systems, military officials said Friday. But as wit...
Mon, 10 Dec 2018 15:34:27 +0000
An investigation into a 13-year-old student’s death at a Northern California private school has found the school violated state rules when its staff put him in a face-down restraint position for nearly an hour. State education regulators found evidence...
Mon, 10 Dec 2018 15:31:46 +0000
A Los Angeles, Calif. chiropractor has pleaded guilty to taking part in a $150 million workers’ compensation fraud scheme. Paul Turley of Granada Hills pleaded last week to conspiracy to commit insurance fraud, mayhem, insurance fraud and unlawful pati...
Mon, 10 Dec 2018 15:20:58 +0000
Ratings analysts at A.M. Best said improved underwriting performance in the private passenger auto line of business, lower—albeit still elevated— catastrophe experience and favorable investment returns have convinced them to maintaining a stable ma...
Mon, 10 Dec 2018 14:59:17 +0000
With a growing number of apps and on-demand services, millennials in particular are increasingly ordering take-out food from their favorite restaurants. As more restaurants expand services into delivery, risk managers must be mindful about vehicle expo...
Mon, 10 Dec 2018 14:20:39 +0000
AssuredPartners Inc. has added the aviation book of business formerly owned by AOPA Insurance Agency Inc. into the AP Aerospace operations of AssuredPartners. AOPA is a Frederick, Md.-based aerospace specific association focusing on the needs of aircra...
Mon, 10 Dec 2018 14:17:44 +0000
Energi, the Peabody, Mass.-headquartered parent company for Energi Insurance Services Inc., has named Michael Windstein as chief underwriting officer. In this role, Windstein will support Energi’s underwriting operations with the recent launch of its e...
Mon, 10 Dec 2018 14:13:11 +0000
The Travelers Companies Inc. has established the Travelers Benefit Program, a $5 million fund to assist customers in repairing homes with crumbling foundations in northeast Connecticut. The matter stems from concrete contaminated by the mineral pyrrhot...
Mon, 10 Dec 2018 14:08:34 +0000
Record high customer satisfaction among auto insurance customers is clearly good news for customers, especially at a time when their overall customer experience is being tested by the rising cost of auto insurance. For insurers, on the other hand, reco...
Mon, 10 Dec 2018 12:17:12 +0000
Ed, the London-based reinsurance, wholesale and specialty broker, announced that it will expand its international footprint by setting up a broking platform in Bermuda. Once approved by the Bermuda Monetary Authority, the operation will be built and le...
Mon, 10 Dec 2018 11:53:21 +0000
With prices of rare whisky soaring into the six and seven digits, ensuring that precious spirit is protected is not only recommended but essential, says Ron Fiamma, head of global collections at AIG’s private client group. The insurance giant has …
Mon, 10 Dec 2018 11:39:56 +0000
Ed, the global reinsurance, wholesale and specialty broker, today announced the appointment of Andrew Draycott as CEO-designate of Ed Broking in London. His appointment is subject to regulatory approvals and he will take up his role once the acquisitio...
Mon, 10 Dec 2018 11:22:17 +0000
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based insurance broker, has acquired Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers in the United Kingdom, which are …
Mon, 10 Dec 2018 10:41:34 +0000
Berkshire Hathaway Specialty Insurance Co. (BHSI) announced that it has withdrawn from the Hong Kong Employees’ Compensation (EC) terrorism pool, effective Dec. 1, 2018. BHSI said it is now the first insurer in Hong Kong to provide EC terrorism coverage …
Mon, 10 Dec 2018 10:12:39 +0000
Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government’s development finance institution, which furthers the company’s diversification strategy in a market when org...
Mon, 10 Dec 2018 09:47:05 +0000
Peak Reinsurance Co., the Hong Kong-based reinsurer, announced it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralized retrocession for part of Peak Re’s global ...
Mon, 10 Dec 2018 09:27:37 +0000
The U.K. can unilaterally reverse the Brexit process, the European Union’s top court said in a landmark ruling that will fuel the campaign to thwart the divorce on the eve of a possible make or break vote in the British …
Mon, 10 Dec 2018 05:45:05 +0000
Uber could owe tens of millions of dollars to Georgia if the state is successful in a legal battle. The Georgia Department of Revenue has billed Uber $22.1 million for sales taxes and other charges that it maintains are owed …
Mon, 10 Dec 2018 05:39:48 +0000
AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Bankers Insurance Co., headquartered in St. Petersburg, Fla., and its property/casualty sub...
Mon, 10 Dec 2018 05:32:31 +0000
Allied American Underwriters (AAU), a division of USG Insurance Services, Inc., has hired Stan Connally as producer/broker for Workers Compensation in the Tampa, Fla., branch. Connally joins AAU with 36 years of experience in the insurance industry, sp...