Thu, 24 Aug 2017 10:30:39 +0000
The Grim Reaper has some happy news, but if pension funds turn this into a party they’re dicing with death. Continuous Mortality Investigation Ltd., which produces longevity projections using data on lives that are insured or in pension plans, said …
Thu, 24 Aug 2017 09:27:37 +0000
The UK’s financial sector is seeking an “ambitious” trade pact between Britain and the European Union to try to prevent a costly shift of jobs and business to the continent once the country leaves the bloc, according to a draft …
Thu, 24 Aug 2017 08:49:41 +0000
Mitsui Sumitomo Insurance Co. (MSI) is buying Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous Southeast Asia. Starved of growth in their aging home...
Thu, 24 Aug 2017 05:27:31 +0000
West Virginia’s Department of Health and Human Resources says it will use $22 million in settlement money from drug distributors to help address the addiction epidemic in the state. Legislation passed this year requires the department to increase inpat...
Thu, 24 Aug 2017 05:14:11 +0000
EBSCO Industries Inc. (EBSCO) has hired insurance veteran Phillip Moultrie as vice president of client services for its insurance brokerage, S.S. Nesbitt (SSN), based in Birmingham, Ala. Moultrie’s immediate focus will be on ensuring that the agency de...
Thu, 24 Aug 2017 05:00:50 +0000
Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located in Homestead, Fla. Hurricane Andrew had just barreled through the region, …
Thu, 24 Aug 2017 05:00:18 +0000
Nearly 25 percent of employee thefts involve large-scale losses of more than $1 million and 29 percent are carried out over five or more years. According to a study on embezzlement by specialist insurer Hiscox, high-loss cases often result from …
Thu, 24 Aug 2017 05:00:11 +0000
A Delaware judge has dismissed a class-action lawsuit filed by former stockholders of Martha Stewart Living Omnimedia over the company’s 2015 acquisition by Sequential Brands. The lawsuit said that Stewart leveraged her position as controlling stockhol...
Thu, 24 Aug 2017 02:50:58 +0000
Harvey, which could strengthen into the first hurricane to strike Texas since 2008, forced workers off Gulf of Mexico platforms, sent cotton rallying and has airlines preparing for flight disruptions. Currently a tropical depression, Harvey was 460 mil...
Wed, 23 Aug 2017 23:46:41 +0000
Researchers are turning to the sky to help stop earthquakes from rumbling deep beneath the Oklahoma soil. The U.S. Geological Survey in coordination with the Oklahoma Geological Survey and other groups last week began using a modified small airplane to …
Wed, 23 Aug 2017 23:40:00 +0000
Illinois Gov. Bruce Rauner has vetoed a workers’ compensation reform bill that has been strongly opposed by the insurance industry. Rauner on Aug. 18 vetoed HB 2622, which would have created the Illinois Employers Mutual Insurance Co. by allowing the …
Wed, 23 Aug 2017 19:12:45 +0000
The U.S. Ninth Circuit court of Appeals affirmed Wednesday that the Los Angeles Lakers are not entitled to insurance coverage for class action allegations that the team violated the Telephone Consumer Protection Act. During a game the team evidently in...
Wed, 23 Aug 2017 16:58:47 +0000
Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance Regulation. According to an amended consent ord...
Wed, 23 Aug 2017 16:42:57 +0000
Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty), headquartered in Dallas. The outlook assigned to ...
Wed, 23 Aug 2017 16:31:42 +0000
St. Louis, Mo.-based Powers Insurance and Benefits recently changed its name to Powers Insurance & Risk Management. Founded in 1991, the company is one of the largest family owned and operated independent insurance agencies in the bi-state region. Powe...
Wed, 23 Aug 2017 16:26:46 +0000
A Missouri plumbing company has been fined more than $700,000 for workplace safety violations, including an employee’s death. The Occupational Safety and Health Administration cited Arrow Plumbing LLC for the death of 33-year-old Donald “D.J.” Meyer an...
Wed, 23 Aug 2017 16:25:22 +0000
The National Hurricane Center has issued a storm surge watch for Texas coast from Port Mansfield to High Island and a hurricane watch from north of Port Mansfield to San Luis Pass. The government of Mexican government also issued tropical …
Wed, 23 Aug 2017 16:13:55 +0000
A woman who reported that she’d been sexually assaulted filed a lawsuit on Aug. 21 against Baylor University, alleging questions she faced from the university shifted blame away from her attacker toward her. The lawsuit filed in a Waco federal …
Wed, 23 Aug 2017 15:22:10 +0000
Colorado’s largest city is on the brink of licensing some of the nation’s first legal marijuana clubs. But Denver’s elaborate hurdles for potential weed-friendly coffee shops and gathering places may mean the city gets few takers for the new licenses. …
Wed, 23 Aug 2017 14:21:17 +0000
A commuter train crashed into a parked train at a suburban Philadelphia terminal early Tuesday morning, injuring dozens of passengers and the train’s operator, a transit spokeswoman said. None of the 42 people hurt in the crash suffered life-threatenin...
Wed, 23 Aug 2017 14:18:07 +0000
PERILS AG has disclosed its third loss estimate for windstorm Thomas, also known as Doris, which affected the British Isles, the Netherlands, Belgium and Germany on Feb. 23-24, 2017. The third estimate of the property insurance market loss for Windstorm …
Wed, 23 Aug 2017 14:14:41 +0000
Crews encountered air brake problems before a 178-car freight train derailed in Pennsylvania earlier this month, causing hazardous material to ignite and forcing nearby residents to evacuate, federal investigators said. The National Transportation Safe...
Wed, 23 Aug 2017 13:34:47 +0000
The Arbella Insurance Group, a Quincy, Mass.-headquartered regional property and casualty insurance company, has promoted Ellen Mann to assistant vice president of human resources. Reporting to Gayle O’Connell, executive vice president, Mann will overs...
Wed, 23 Aug 2017 13:24:06 +0000
Delaware Governor John Carney last week signed into law House Substitute 1 for House Bill 180, legislation that provides the first updates in Delaware law to address advances in cyber threats in more than a decade. The legislation requires additional …
Wed, 23 Aug 2017 13:21:59 +0000
Chubb announced that Johannes Gschossmann has been appointed as head of Financial Lines in Singapore. He joined the company on July 12 and reports to Liam Burrell, division head of Property & Casualty (P&C). Gschossmann brings with him more than …
Wed, 23 Aug 2017 12:37:32 +0000
One of the biggest commercial threats to Taser International’s signature weapon could come from a lawsuit the company won. Across the United States, wrongful death lawsuits involving Tasers have created a body of case law restricting the use of a …
Wed, 23 Aug 2017 12:06:09 +0000
NexAssure Group is set to open a specialist managing general agent, NexAssure Agency (UK) Ltd. in London and has appointed a senior underwriter Mark Angel as head of Specialty to lead the company’s expansion into Europe and Middle East. Angel …
Wed, 23 Aug 2017 12:04:19 +0000
President Donald Trump’s emergency management director said he’s pushing for an overhaul of disaster relief so that states, cities and homeowners bear more of the costs, and less of the risk falls on the federal government. Brock Long, who was …
Wed, 23 Aug 2017 06:46:08 +0000
A law firm threatened on Wednesday to file a class action suit against Commonwealth Bank of Australia for allegedly failing to disclose that it was facing money-laundering charges, in the latest headache for Australia’s biggest listed company. Without ...
Wed, 23 Aug 2017 06:03:58 +0000
Severe Typhoon Hato made landfall in China after it lashed Hong Kong with heavy winds and rain, forcing the city to issue the highest storm warning and its stock exchange to cancel trading for the day. The Hong Kong Observatory …