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News – Insurance Journal

Report Calls for Regulators to Tackle ‘Systemic Risk’ from Climate Change

4 Jun 2020 20:31


Climate change is a systemic risk with wide-ranging potential physical impacts, according to a new report that also serves as a call-to-action for U.S financial regulators to do more to deal with a changing climate. An eventual transition to a …


Idaho Woman Sentenced for ‘Crash And Buy’ Insurance Fraud

4 Jun 2020 19:51


Brittany N. Mars, an Ada County, Idaho, woman who fudged the time of accident in documents to her auto insurer, was sentenced this week for insurance fraud. Mars in February pleaded guilty to insurance fraud. Mars was involved in an …


PAK Programs Expands Drone Risk Assessment Service to Breweries

4 Jun 2020 16:58


PAK Programs, a specialty insurer of alcoholic beverage manufacturers and distributors, has expanded its Insurance Risk Assessment Drone (iRAD) program, previously only available for wineries, to serve the craft beer industry. iRAD will provide breweries with property inspections to support …


Florida Traffic Crashes Down by Half Amid Quarantine

4 Jun 2020 16:54


The number of traffic crashes in Florida dropped by 50% in April compared to the same time last year, according to highway officials. With residents holed up at home, working remotely and running fewer errands, rush hour traffic has dipped …


Florida Rethinks Hurricane Plans in Midst of Coronavirus

4 Jun 2020 16:52


Florida’s emergency manager is expressing complete confidence that the state is prepared for a hurricane during the unprecedented coronavirus pandemic, but some local directors aren’t sharing the same level of certainty. The state has massive stockpiles of personal protection equipment …


Mississippi to Release Names of Nursing Homes with Virus Outbreaks After Lawsuit

4 Jun 2020 16:40


The Mississippi State Department of Health said Tuesday that it will start releasing the names of nursing homes and other long-term care facilities where people have tested positive for the new coronavirus. The action comes only after a newspaper sued …


Ascend Insurance Brokerage in Dallas Joins Higginbotham

4 Jun 2020 16:34


Dallas-based Ascend Insurance Brokerage, which specializes in the entertainment industry, has joined forces with Fort Worth-based Higginbotham. In business for 20 years, Ascend Insurance Brokerage specializes in commercial coverage and risk management for the entertainment industry. Its brokers have expansive …


Massive Fuel Spill in Siberia Blamed on Melting Permafrost – or Climate Change

4 Jun 2020 16:22


A massive fuel spill in Siberia prompted Russia to declare a state of emergency in the region as the mining company involved said the catastrophe may have been caused by climate change. Scientists have warned for years that thawing of …


Kang Joins Allianz From Willis Towers Watson to Head Cyber in North America

4 Jun 2020 16:18


Allianz Global Corporate & Specialty (AGCS) announced that Thomas Kang is joining the insurer as head of Cyber in North America. Kang, an attorney, joins AGCS from Willis Towers Watson, where he served as Global Cyber Product leader since 2018. …


Wisconsin Wages, Income Should Rebound in 2021, Revenue Report Says

4 Jun 2020 16:00


Wisconsin’s income levels and wages should rebound next year after the coronavirus pandemic crippled the state’s economy, according to a report released by Gov. Tony Evers’ administration. The analysis from the state Department of Revenue notes that Wisconsin lost 440,000 …


Louisiana Lawmakers Consider Business Tax Breaks in Special Session

4 Jun 2020 15:46


As Louisiana lawmakers on June 2 resumed work on piecing together a budget, their biggest unresolved financial question centered not on the coronavirus pandemic, but on how much they’ll want to give in tax breaks to help businesses recover from …


Amid Pandemic, Oil Refineries, Offshore Drillers Face Hurricane Challenges

4 Jun 2020 15:34


As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will take longer and prove more costly this year because of …


Navajo Nation Reports 131 New COVID-19 Cases, Now At 5,479 Cases and 248 Deaths

4 Jun 2020 14:15


The Navajo Department of Health has reported 131 new cases of coronavirus on the Navajo Nation and two more known deaths. That pushes the numbers to 5,479 positive COVID-19 cases and 248 known deaths as of Monday night. Tribal officials …


California Orders Unlicensed Van Rental Company to Stop Selling Insurance Products

4 Jun 2020 14:12


The California Department of Insurance issued a cease and desist order against unlicensed van rental company, Airport Van Rental Inc. and its owners, Yazdan Irani, 57, of Encino, and his wife, Kimberly, 61, for operating a rental agency without a …


Court Rebuffs EPA, Blocks U.S. Sale of Dicamba-Based Herbicide by Bayer, Rivals

4 Jun 2020 13:34


German agrochemicals group Bayer AG has been blocked from selling its dicamba-based weed killer in the United States after an appeals court rejected a federal regulator’s permit for the product. A three-judge panel ruled that the U.S. Environmental Protection Agency …


Equisoft Appoints Nicolai as Vice President of Insurance Solutions USA

4 Jun 2020 13:13


Equisoft, a global provider of digital business solutions for the insurance and wealth industries, has appointed David P. Nicolai as vice president of Insurance Solutions USA in its Philadelphia, Penn., office. He brings more than 25 years of technical and …


UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers

4 Jun 2020 12:45


The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to support UK business-to-business transactions …


Zebra Technology Adds Social Distancing Alerts to Warehouse Workers’ Scanners

4 Jun 2020 12:20


Zebra Technologies Corp., which sells barcode scanners and other computers used in warehouses globally, introduced a feature on Thursday that sounds an alert when workers breach physical distancing guidelines over the novel coronavirus. Warehouses and factories have been trying to …


Senators Seek to Expand U.S. Sanctions to Insurance for Russia-Europe Pipeline

4 Jun 2020 11:57


U.S. senators will announce a bill this week expanding sanctions on Russia’s Gazprom-led Nord Stream 2 project, Senate aides said, targeting a pipeline Washington says will make Europe too reliant on Russian gas. The Protecting Europe’s Energy Security Clarification Act …


More Americans Traveling Abroad Won’t Leave Home Without Insurance

4 Jun 2020 11:43


In the new reality of COVID-19, some Americans may still be willing to travel abroad – but they’re going to make sure they’re insured up to the hilt. U.S. travel insurers are seeing a surge in demand for highly priced …


Did Debate Over Business Income Insurance Just Get More Complicated?

4 Jun 2020 11:18


As the insurance industry faces litigation and questions over virus-related claim denials, it could soon be dealing with another business income hurdle due to the civil unrest that has taken place in many U.S. cities following the death of George …


Cyclone Nisarga Lashes India’s Business Capital, Forcing Evacuation of 100,000

4 Jun 2020 10:38


A cyclone made landfall Wednesday south of India’s financial capital of Mumbai, with storm surge threatening to flood beaches and low-lying slums as city authorities struggle to contain the coronavirus pandemic. Live TV coverage showed inky black clouds framing the …


Nigeria’s Regulator Gives Insurers Additional Year to Recapitalize on COVID-19 Impact

4 Jun 2020 09:45


Nigeria’s National Insurance Commission gave underwriters an additional year to recapitalize as companies deal with the effects of the coronavirus pandemic. The industry recapitalization program scheduled to end in 2020 must now be completed by September 2021, the agency said …


UK Employee Union Urges Insurers, Banks to Protect Call Center Staff During Pandemic

4 Jun 2020 09:17


Employee union Unite has called on finance firms to do more to protect call center staff after a survey of almost 3,000 employees exposed widespread fears about catching COVID-19 in workplaces where social distancing measures were falling short. Independent research …


AXA Identifies 1,700 Restaurant Contracts with Unclear Terms on Pandemic Payouts

4 Jun 2020 08:30


French insurer AXA has identified 1,700 contracts signed with restaurant owners in France where the terms are not clear as to whether business interruption losses due to the COVID-19 crisis should be covered, its CEO told Le Monde in an …


Michigan’s AmeriTrust Group Extends Policyholder Relief Programs to Sept. 1

4 Jun 2020 05:23


AmeriTrust Group Inc., based in Southfield, Michigan, has extended both its program to guarantee renewals of all admitted general business policies and its Economic Relief Payment Plan until Sept. 1, 2020. The company said it extending the programs in response …


Midwest Business Leaders Optimistic Despite Coronavirus: Survey

4 Jun 2020 05:09


Business leaders are optimistic the economy will begin to recover later this year in a nine-state region of the Midwest and Plains despite the ongoing impact of the coronavirus outbreak, according to a monthly survey released on June 1. The …


Insurance Survey: How Is Pandemic Affecting Your Life, Your Work, Your Industry?

4 Jun 2020 05:00


No matter where you work in the P/C insurance industry, your experience is important. How is the coronavirus pandemic affecting you now? Going forward? What do you expect to change? When will you be ready to travel? How do you …


Amazon Sued Over Warehouses After N.Y. Worker Brings Coronavirus Home

4 Jun 2020 05:00


Amazon.com Inc has been sued for allegedly fostering the spread of the coronavirus by mandating unsafe working conditions, causing at least one employee to contract COVID-19, bring it home, and see her cousin die. The complaint was filed on Wednesday …


Insurers Prepare for Claims as East States See Property Damage from Civil Unrest

4 Jun 2020 05:00


Scenes that played out over the past few days in several East region states are serving as a stark reminder for the insurance industry of civil unrest that took place in New York and other U.S. states more than 50 …

        
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