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News – Insurance Journal

Supreme Court Allows Sandy Hook Families’ Liability Lawsuit Against Gunmaker

12 Nov 2019 16:06


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 …


OJ Simpson Sues Las Vegas Casino Saying He Was Defamed

12 Nov 2019 16:00


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 …


Despite Wildfires, California Wine is Doing Just Fine – For Now

12 Nov 2019 15:57


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 …


PG&E California Wildfire Victims Sue to Get Paid Before Fire Insurers

12 Nov 2019 15:48


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 …


Insurtech Pie Launches TV Campaign in California for Workers’ Comp

12 Nov 2019 15:46


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 owners “unaccustomed to an easy …


Pool Re Forms Specialist Unit to Help U.K. Insurers Build Terrorism Risk Resilience

12 Nov 2019 14:26


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 years of reinsuring terrorism risk. …


Startup Zego Becomes 1st U.K. Insurtech to Get Insurance License

12 Nov 2019 13:59


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, …


What to Expect in Commercial Insurance Market Conditions Heading Into 2020

12 Nov 2019 13:43


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 line—loss sensitive …


Insurance Council of Australia Declares Catastrophe for New South Wales Bushfires

12 Nov 2019 13:39


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 more than …


New Jersey Man Sentenced in Slip and Fall Insurance Scam

12 Nov 2019 12:58


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 …


NYPD Employees Charged in Car Insurance Scam

12 Nov 2019 12:55


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 neighborhoods, authorities …


Markel to Acquire Virginia’s VSC Fire & Security

12 Nov 2019 12:51


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 …


Vale’s ‘Negligence’ May Have Cost Lives, Says Brazil Mining Regulator

12 Nov 2019 12:47


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 …


Ben & Jerry’s Is Sued by Environmental Advocate Over ‘Happy Cows’ Claim

12 Nov 2019 12:43


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 …


Guy Carpenter Appoints Bermuda Execs, Including Johnston, Komposch from Aon

12 Nov 2019 11:56


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, most recently as president …


Ransomware Attack Hits Mexico’s State Oil Firm Pemex

12 Nov 2019 11:33


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 targeted companies …


Australia Braces for Another Week of Devastating Bushfires

12 Nov 2019 10:37


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 …


Texas Windstorm Insurer Actuarial Committee to Meet Again for Rate Review

12 Nov 2019 07:33


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 rate filings as permitted …


More Than 100 Dams in Ohio Rank as ‘High-Hazard’

12 Nov 2019 07:31


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 …


Vertus to Offer Hurricane Deductible Buy-Back Insurance in Texas

12 Nov 2019 07:26


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 company said its Cat4Home product provides Texas homeowners supplemental homeowner …


Ohio’s Norman-Spencer Adds Cox as Managing Director, Transportation

12 Nov 2019 07:19


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 insurance industry from field underwriting to chief underwriting …


Corporations Grow Nervous as Compensation for Directors Rises

12 Nov 2019 06:00


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 …


Program Manager Victor O. Schinnerer Rebrands as Victor US

12 Nov 2019 06:00


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 of …


Juul Labs and WeWork Being Sued Under Illinois Biometric Privacy Law

12 Nov 2019 06:00


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 …


Kentucky Hemp Processing Plant Damaged by Explosion, Fire

12 Nov 2019 05:45


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 …


Farmers Hit by Hurricanes in Alabama, Florida, Georgia to Get $800M in Federal Aid

12 Nov 2019 05:36


The federal government announced $800 million in aid Friday to farmers in three southern states that were devastated by last year’s hurricanes. Nearly half that money will go to Florida, where timber farmers suffered catastrophic losses when Hurricane Michael came …


PointeNorth Acquires Berger & O’Neal, Holmes-Shaw Agencies of Georgia

12 Nov 2019 05:23


PointeNorth Insurance Group, LLC (PNIG), a locally owned independent insurance agency in the Southeast, has acquired two additional insurance agencies in Georgia - Berger & O’Neal Insurance Group and Holmes-Shaw Agency. Berger & O’Neal Insurance Group and Holmes-Shaw Agency will …


North Carolina-Based Jackson Sumner & Associates Names McNeil P&C Manager

12 Nov 2019 05:18


Jackson Sumner & Associates (JSA) has promoted Kristel McNeil to the position of P&C Manager. McNeil first began with JSA in 1998 in support staff, and in 2001 moved into underwriting for the company. In 2006 she moved into renewal …


EPIC Launches Site Pollution Liability Insurance Program for Cannabis Risks

12 Nov 2019 05:07


Greyling Insurance Brokerage & Risk Consulting (Greyling), a division of EPIC Insurance Brokers & Consultants (EPIC), has launched a nationwide site pollution liability insurance program for the emerging cannabis industry. Available in states where cannabis is legal for recreational and …


Microsoft Vows to Honor California’s Consumer Privacy Law Countrywide

12 Nov 2019 00:52


Microsoft Corp. said in a blog post on Monday that it would honor California’s privacy law throughout the United States, expanding the impact of a strict set of rules meant to protect consumers and their data. Microsoft said in the …

        
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