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News – Insurance Journal

U.S. Confirms 5 Cases of Coronavirus; 100 More Possible But Risk in U.S. Deemed Low

27 Jan 2020 02:14


Five people in the United States, all of whom recently traveled from Wuhan, China, have been diagnosed with the new coronavirus, officials of the federal Centers for Disease Control and Prevention said on Sunday. The count includes new patients identified …


SLTX: Surplus Lines Flood Insurance Premium Up in Texas over 5 Years

24 Jan 2020 17:20


Surplus lines flood insurance premium filed with the Surplus Lines Stamping Office of Texas (SLTX) has increased annually over the past five years, according to SLTX. Additionally, while NFIP premium dipped in 2017, it rose in 2018 and Texas premium …


California Clears Way for Those with Cannabis Convictions to Get Insurance Licenses

24 Jan 2020 17:01


California Insurance Commissioner Ricardo Lara today announced a measure that enables people with cannabis-related convictions to obtain an insurance license. Lara announced the California Department of Insurance will use its discretion in deciding whether to issue licenses to those with …


Workers’ Compensation Is Doing Well. Is It Time to Worry?

24 Jan 2020 16:56


Although workers’ compensation results remain strong—and the line continues to outperform all other commercial insurance lines—worries about continued soft pricing and loss reserve levels for workers’ compensation specialists prompted a rating agency warning recently. “As rate levels continue to decline, …


Making Big Oil Pay for Climate Change May Be Impossible

24 Jan 2020 16:51


Exxon Mobil dodged a bullet last month when a judge rejected a novel climate-change lawsuit brought by New York’s attorney general. The case began with a promise from state officials that there would be a historic reckoning for the fossil …


2020 Agency Salary Survey: Tell Us What You Think

24 Jan 2020 16:17


Total compensation and salary adjustments on average fell slightly in agencies responding to the 2019 Agency Salary Survey – but that trend didn’t impact employee satisfaction. On average, employee satisfaction with compensation overall rose again in 2018. How will satisfaction …


$5.75M Settlement in California Over Marine Veteran’s Death

24 Jan 2020 16:00


The city of Los Angeles has agreed to pay $5.75 million to the parents of a Marine veteran who died after police jolted him six times with a stun gun during a 2014 confrontation. The City Council unanimously approved a …


California Governor Wants to Block PG&E’s Bankruptcy Plan

24 Jan 2020 15:58


California Gov. Gavin Newsom is urging a federal judge to reject Pacific Gas and Electric’s blueprint for getting out of bankruptcy and renewing his threat to lead a bid to turn the beleaguered utility into a government-run operation. In a …


Entering and Exiting Digital: What’s Up with Multi-Brand Strategies of P/C Insurers?

24 Jan 2020 14:42


Two of the largest property/casualty insurers in the U.S., Allstate and Nationwide, made headlines recently when they announced shifts in their respective multi-brand portfolios. Faced with the prospect of staying relevant in an environment that has seen minimal organic growth …


New Coronavirus Outbreak: Marsh Recommends Immediate Steps for Multinationals

24 Jan 2020 14:04


The effects on multinational businesses from a potentially worsening Wuhan coronavirus outbreak could be severe, which is why they need to review, test and potentially update plans related to business continuity, crisis management and crisis communications, according to Marsh in …


New Jersey Apartment Complex Fire Damages Dozens of Units

24 Jan 2020 13:47


A fast-moving fire roared through a southern New Jersey apartment complex, damaging dozens of units but causing no injuries, authorities said. The fire broke out late Monday in the Buttonwood Village complex in Gloucester Township. Firefighters battled the blaze for …


Philadelphia District Attorney’s Office Charges Insurance Adjuster in $722K Theft

24 Jan 2020 13:44


The Philadelphia District Attorney’s Office (DAO) has charged insurance adjuster Michael R. Shelly with insurance fraud, forgery, theft by deception and theft by failure to make required disposition of funds for stealing more than $722,000 from Bridesburg, Penn.-based manufacturer Philly …


The Hilb Group Acquires Maryland’s Martens Johnson Insurance Agency

24 Jan 2020 13:38


The Hilb Group LLC (THG) has acquired Maryland-based Martens Johnson Insurance Agency Inc. (MJIA). The transaction became effective January 1, 2020. MJIA is a full-service insurance agency focused on the unique needs of the commercial transportation industry in the Maryland …


Uber Goes to Washington. Autonomous Cars with Humans to Collect Data in D.C.

24 Jan 2020 13:25


Uber Technologies Inc. will put self-driving vehicles on Washington, D.C. roads Friday with human drivers in control, the ride share company said on Thursday, as it seeks to collect data for future deployment of fully self-driving vehicles. Uber is collecting …


Uber in London Failed to Flag Assault Complaints, Monitor Drivers’ Insurance Status

24 Jan 2020 12:37


London’s main transportation regulator has released a scathing document detailing why it moved to ban Uber Technologies Inc. from operating in the city. The regulator lists several safety concerns, including the charge that it didn’t receive proper notification of alleged …


Insured Losses from Australia’s Hailstorms Hit US$352.5 Million

24 Jan 2020 12:14


The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday (Jan. 19-Jan. 20). Insured losses from the …


As Insurers Pull Back from Australia’s Bushfire Zones, They Could Become Uninhabitable

24 Jan 2020 11:37


Australian wildfires that have razed thousands of homes and blackened an area about the size of England may also create the nation’s first climate refugees. That’s the view of Michael Mann, distinguished professor of atmospheric science at Pennsylvania State University, …


China’s New Coronavirus Doesn’t Always Cause a Fever so Detection May Be Difficult

24 Jan 2020 11:03


China’s new deadly virus is more difficult to contain than other pandemics because those infected may not get a fever, a symptom governments around the world are using to screen for the pathogen. The National Health Commission told local governments …


Indonesia to Tighten Oversight of Troubled Insurance Industry as Crisis Continues

24 Jan 2020 07:30


With Indonesia’s oldest life insurer tottering on the brink of collapse following years of alleged mismanagement, authorities plan to tighten surveillance of the industry by overhauling regulations and setting up a rescue agency. The government plans to draft an omnibus …


Trump OKs North Dakota Storm-Related Disaster Declaration

24 Jan 2020 07:25


President Donald Trump has approved a disaster declaration for North Dakota after an October storm dumped heavy rain and snow on a large part of the state. Gov. Doug Burgum made the request last month and announced Trump had approved …


AXA Reviews Potential Sale of Middle Eastern Operations: Sources

24 Jan 2020 07:15


AXA SA is considering options for its Middle Eastern operations including a potential sale, as Chief Executive Officer Thomas Buberl continues to streamline the operations of Europe’s second-largest insurer, people familiar with the matter said. The French insurer is working …


U.K. Financial Services Firms Must Prepare for Failure of Brexit Trade Deal: Regulator

24 Jan 2020 07:15


Financial firms in Britain should be ready in case no trade agreement is struck with the European Union by December, a senior U.K. regulator said on Thursday. Britain leaves the EU next week, followed by a “business as usual” transition …


Florida Lawmakers Propose Task Force to Protect State from Sea-Level Rise

24 Jan 2020 06:47


After years of mostly ignoring climate change, Florida lawmakers waded deeper into the matter on Tuesday , advancing a proposal that would create a statewide Office of Resiliency and establish a task force to begin looking into how best to …


4 Racehorses Die at New Orleans Track in 10-Day Span

24 Jan 2020 06:42


Four thoroughbred racehorses were euthanized after competing at a New Orleans track in a 10 -day span, prompting criticism from an animal advocacy group based in Washington D.C. Officials at the New Orleans Fair Grounds Race Course didn’t specify the …


Wisconsin Manufacturer Fined $171K for Exposing Workers to Lead, Other Hazards

24 Jan 2020 06:36


The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Milwaukee Valve Company Inc. – based in Prairie du Sac, Wisconsin – for exposing employees to lead and copper dust at rates higher than the permissible exposure …


Court: Insurer GEICO Must Pay Injured Kansas Man for Care Provided by Wife

24 Jan 2020 06:13


An insurance company must reimburse a Kansas man for the personal care his wife provided after he was injured in an automobile accident, the state Supreme Court ruled in rejecting that spouses are required to provide such support without compensation. …


Texas’ Galiot Insurance Services, Higginbotham Join Forces

24 Jan 2020 06:04


Houston-based Galiot Insurance Services, with a specialty in the life sciences sector, and insurance broker Higginbotham, headquartered in Fort Worth, Texas, have merged operations. Galiot President and CEO Brian Toglia, with 14 years of experience in the insurance industry, focuses …


Hawaii Family Sues School Over Child’s Death While Kayaking

24 Jan 2020 06:00


The family of a 5-year-old boy who died on a kayaking excursion filed a lawsuit against the school that conducted the trip. The family of Alaric Chiu filed the lawsuit last week against Mid-Pacific Institute citing reckless behavior and gross …


New Laws Spur Insurers to Reserve for Potential Child Sex-Abuse Claims

24 Jan 2020 06:00


Travelers Companies Inc. has set aside a “modest” amount of additional money to cover its possible exposure to child sex-abuse claims, the insurer’s finance chief, Daniel Frey, told analysts during an earnings call on Thursday. Two analysts asked about Travelers’ …


Father Sues Police in Oregon for Using Stun Gun on 14-Year-Old

24 Jan 2020 06:00


A father is suing Redmond, Ore. police because he says they used excessive force when they used a Taser stun gun on his 14-year-old son nearly two years ago. Michael Francisco filed the civil rights lawsuit last week in U.S. …

        
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