Parent Prakop and Associates Insurance Agency
Insurance News

News – Insurance Journal

InterWest Acquires CBS Bond & Insurance Services in California

6 Apr 2020 22:10

InterWest Insurance Services has acquired CBS Bond & Insurance Services in Sacramento, Calif. Terms of the deal were not disclosed. CBS specializes in bond and commercial insurance programs. InterWest is a regional insurance brokerage headquartered in Sacramento with 350 employee.

California Commissioner on Immigrant Eligibility for Workers’ Comp Benefits

6 Apr 2020 21:44

California Insurance Commissioner Ricardo Lara today alerted insurance companies that all workers affected by COVID-19 on the job are eligible for workers’ compensation benefits regardless of their immigration status. Lara’s alert includes workers engaged in occupations such as healthcare, emergency …

Louisiana Places Moratorium on Insurance Policy Cancellations/Non-Renewals

6 Apr 2020 16:51

Louisiana Insurance Commissioner Jim Donelon in late March issued Emergency Rule 40, which places a moratorium on insurance policy cancellations and non-renewals for policyholders in Louisiana. The emergency rule is a result of the statewide public health emergency declared by …

Michigan’s AmeriTrust Auto-Renewing General Business Policies During Pandemic

6 Apr 2020 16:44

Southfield, Michigan-based AmeriTrust Group on March 20 said its admitted insurance carriers will guarantee renewal of all general business policies for the next 90 days, except in certain situations including in cases of fraud and misrepresentation, and for certain lines …

Firefighters Work to Contain North Carolina Wildfires

6 Apr 2020 16:40

Firefighters kept working on Saturday to slow the spread of western North Carolina wildfires that have spread due to high winds, the U.S. Forest Service said. A fire that began on private property Friday in Haywood County expanded to the …

Wisconsin’s American Family to Return $200M to Auto Insurance Customers

6 Apr 2020 16:35

Madison, Wisconsin-based American Family Insurance says it will return approximately $200 million to its auto insurance customers as the COVID-19 pandemic has dramatically altered driving habits and created financial uncertainty for individuals and families across the country The premium relief …

North Carolina Nursing Home Reports Virus Outbreak

6 Apr 2020 16:29

Three residents of a central North Carolina nursing home have tested positive for COVID-19, public health officials announced on Saturday as overall cases statewide exceeded 2,400. The three cases occurred within the population of the Springbrook Rehabilitation and Nursing Center …

12 Companies Cited by OSHA in New Orleans Hard Rock Hotel Collapse

6 Apr 2020 16:24

Federal workplace safety officials have cited 12 businesses with safety violations in connection with partial collapse of the Hard Rock Hotel in New Orleans in which three workers died and 18 others were seriously injured. The U.S. Department of Labor’s …

Federal Judge Permanently Bans Enforcement of Kansas ‘Ag-Gag’ Law

6 Apr 2020 16:16

A federal judge has blocked enforcement of provisions in a Kansas law that ban the secret filming at slaughterhouses and other livestock facilities. U.S. District Judge Kathryn Vratil issued the permanent injunction after finding in January that the state’s “Ag-Gag” …

SelectQuote to Hire 150-Plus in West Des Moines, Iowa

6 Apr 2020 16:13

A Kansas-based company intends to hire more than 150 new employees in West Des Moines, Iowa, as the state’s unemployment claims continue to soar from the impact of the COVID-19 pandemic. SelectQuote said it is filling the positions as part …

Implementation of New Texas Coastal Building Code Extended to September

6 Apr 2020 16:11

The start date for implementation of the new building code standard for Texas’ property insurance provider for wind and hail in counties along the state’s coastline has been extended. The Texas Department of Insurance (TDI) issued an emergency rule to …

Florida-Based Orchid Insurance Appoints Garamoni as Chief Financial Officer

6 Apr 2020 16:11

Orchid Underwriters Agency, LLC, an independent managing general underwriters with a focus in catastrophe-exposed properties, has appointed Michael Garamoni as chief financial officer. Garamoni has spent the past 13 years in finance, reporting and planning, which included roles as Vice …

Canadian Insurers Hit with Lawsuit on Refusal to Pay COVID-19 Biz Income Claims

6 Apr 2020 15:27

A class action lawsuit has been filed against Canada’s top indemnity insurers for breach of contract in their refusal to pay business interruption claims from the COVID-19 crisis. “Indemnity insurers are wrongfully refusing to honor their contracts,” said E.F. Anthony …

Another Member PG&E California Wildfire Panel Resigns

6 Apr 2020 15:01

The former chief financial officer for a Northern California city destroyed in a 2018 wildfire caused by Pacific Gas & Electric equipment is trying to upend the utility’s plan for getting out of bankruptcy because she believes the company is …

Idaho Authorities Say No Major Damage After 6.5 Earthquake

6 Apr 2020 14:58

The day after a magnitude 6.5 earthquake rattled Idaho, authorities near the epicenter say there have been no reports of significant damage or injuries. An earthquake struck north of Boise on Tuesday evening, with people across a large area reporting …

Magnitude 4.9 Earthquake Confirmed in Southern California

6 Apr 2020 14:56

An earthquake with a preliminary magnitude of 4.9 rattled much of inland Southern California on Friday evening but no damage or injuries were reported, the U.S. Geological Survey confirmed. The quake struck just after 6:53 p.m. and was centered near …

Allstate to Forgive 15% of Monthly Auto Premiums, Provide Free ID Theft Coverage

6 Apr 2020 14:01

Insurance carriers are continuing to step forward with offers of help for customers and communities affected by the coronavirus crisis. Allstate announced that its Allstate, Esurance and Encompass personal auto insurance customers will receive a Shelter-in-Place Payback, a premium credit …

Chubb Vows No Layoffs During Coronavirus Crisis; Pledges $10 Million to Relief Efforts

6 Apr 2020 13:37

Global insurer Chubb announced that it will not conduct any layoffs among its 33,000 employees while in the midst of the COVID-19 pandemic health crisis. The insurer has also pledged to give $10 million to pandemic relief efforts globally. “We …

Quantemplate Hires Fagg, Perry to New York Sales and Solutions Teams

6 Apr 2020 13:25

Quantemplate, a provider of self-service, cloud-based automated data solutions for the (re)insurance industry, has hired Simon Fagg and Shannon Perry to its New York-based team. The new hires have joined both the sales and solutions teams and are responsible for …

Pennsylvania Governor Places Seven More Counties Under Stay-Home Order

6 Apr 2020 12:41

Pennsylvania Governor Tom Wolf added seven more counties to his order to stay at home as the new virus expanded its reach and Pennsylvania reported another big jump in confirmed COVID-19 cases and deaths. Wolf told residents of Lebanon, Franklin, …

Consumers Find Travel Insurance Policies Not Much Help in Coronavirus Crisis

6 Apr 2020 12:20

Purchasers of travel insurance are finding their policies all but worthless as the global pandemic forces them to change their plans, or worse, leaves them sick at sea. Most travel insurance companies won’t provide reimbursements for canceled trips due to …

Insurers Say Forced Payouts for Excluded Virus Losses Risk Destabilizing Industry

6 Apr 2020 10:58

World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered by measures to halt the spread …

Willis Towers Watson Postpones Planned Sale of Miller Insurance

6 Apr 2020 09:47

Willis Towers Watson is postponing its planned sale of its London wholesale broker subsidiary, Miller Insurance Services. “Given the current COVID-19 outbreak and associated uncertainty, we have paused our current efforts to explore strategic alternatives for Miller. WTW and Miller …

BHSI Launches Professional Technology Liability Cover in Australia, New Zealand

6 Apr 2020 07:46

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has launched Professional First Technology Liability Insurance policies in Australia and New Zealand. Both policies offer broad, customizable professional liability protection for the full scope of services provided by technology and tech-related …

Thai Insurer’s Coronavirus Cover Draws ‘Overwhelming’ Demand

6 Apr 2020 07:30

The founder of one of the world’s best-performing insurance firms this year never imagined its policies to cover illness from the coronavirus would draw “overwhelming” demand when it began selling them well before the pathogen spread across Thailand and the …

West Virginia Governor’s Coal Companies to Pay $5M in Fines for Safety Violations

6 Apr 2020 06:55

Billionaire West Virginia Gov. Jim Justice’s coal companies have agreed to pay more than $5 million for thousands of mine safety violations, federal prosecutors said Wednesday. The civil case brought by prosecutors in Virginia last year on behalf of the …

Alliant Names Dolan, Graham National Wrap-Up Program Leaders

6 Apr 2020 06:12

Newport Beach, Calif.-headquartered Alliant Insurance Services has tapped Kevin Dolan and Craig Graham to co-lead the national wrap up insurance team for Alliant Construction Services Group. Dolan is based in New York City and Graham is based in Los Angeles. …

Forecaster Sees ‘Greater Than Average’ Hurricane Season This Year

6 Apr 2020 05:00

The 2020 Atlantic hurricane season could see a greater than average number of major hurricanes because of warmer seas and favorable weather patterns, forecasters from Colorado State University’s Tropical Meteorology Project said on Thursday. Four major hurricanes packing winds of …

Federal-State Pandemic Training Focused on Flu, Not New Virus

6 Apr 2020 05:00

In August, months before the first case of the new coronavirus was documented, some of Colorado’s top health officials gathered in a room at the state Department of Public Health and Environment to train for a pandemic. The hypothetical scenario: …

Coronavirus Impact on Aviation Insurance: Gallagher

6 Apr 2020 01:46

Airplanes with a total insured value of more than $160 billion are grounded around the world, presenting risks for insurers, a report said on Friday. Singapore has the largest number of planes standing idle at airports, at 205, with Hong …

733 Washington Street, Stoughton, MA, 02072, United States
Switch to desktop site