June 26, 2019
New England Insurance Group
Wed, 26 Jun 2019 11:20:01 +0000
Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its team in the UK with the appointment of Mark Walker as head of Customer and Broker Engagement. “I’m extremely pleased to have Mark leading our efforts to expand our broker …
Wed, 26 Jun 2019 11:05:21 +0000
Arthur J. Gallagher & Co. announced it has signed an agreement to purchase a minority stake in Prague-based Renomia. The deal is subject to regulatory approval and is expected to close in the third quarter of 2019. Financial details of …
Wed, 26 Jun 2019 10:45:30 +0000
Hackers broke into the systems of more than a dozen global telecom firms and stole huge amounts of data in a seven-year spying campaign, researchers from a cyber security company said, identifying links to previous Chinese cyber-espionage activities. I...
Wed, 26 Jun 2019 10:32:22 +0000
A group of Lloyd’s underwriters have launched a new facility with £53 million ($67.5 million) of capacity, which is designed to speed up re/insurance product development for today’s new and emerging risks. The Product Innovation Facility is led by sen...
Wed, 26 Jun 2019 06:00:44 +0000
A group of former traders and managers at American International Group Inc. won a London judge’s backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn’t put forward …
Wed, 26 Jun 2019 05:55:44 +0000
A Michigan jury has awarded more than $3 million to a woman who was misdiagnosed with epilepsy, one of hundreds of people to accuse a Detroit-area doctor of misreading tests to enrich himself and his employer. Dr. Yasser Awaad was …
Wed, 26 Jun 2019 05:00:53 +0000
As Congress bears down on big tech companies, two senators want to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The legislation floated this week by Sens. …
Wed, 26 Jun 2019 05:00:29 +0000
Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out who owns the data. Presentations …
Wed, 26 Jun 2019 05:00:15 +0000
Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding …
Wed, 26 Jun 2019 04:58:45 +0000
Officials say the Florida Keys will receive $21 million for Hurricane Irma recovery, along with $35 million for affordable housing. Gov. Ron DeSantis announced the money during a Thursday news conference in Marathon. The $21 million comes from the Flor...
Wed, 26 Jun 2019 04:55:19 +0000
North Carolina and the federal government are paying over $1.4 million for 24 generators and other help so communities can keep the power on at public infrastructure during storms and disasters. The money will go mostly toward generators, with the …
Wed, 26 Jun 2019 04:31:05 +0000
The Kentucky Legislature has passed the first state law in the U.S. providing comprehensive framework for an insurance regulatory “sandbox” for insurance technology products. The new regulatory sandbox, which will be administered by the Kentucky Depart...
Tue, 25 Jun 2019 18:39:57 +0000
Transatlantic Underwriters has named Colby Waltenburg vice president. Waltenburg will be coordinating the opening of a new office for TAU on the West Coast. Waltenburg has worked in most aspects of wholesale property/casualty insurance operations since...
Tue, 25 Jun 2019 16:36:52 +0000
An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for governments hoping to recoup costs associated with the public …
Tue, 25 Jun 2019 16:16:17 +0000
Illinois Gov. J.B. Pritzker has issued disaster proclamations for two more counties affected by flooding. Pritzker added Knox and Henry counties in western Illinois to the counties receiving disaster proclamations. That brings the total in Illinois to ...
Tue, 25 Jun 2019 16:13:16 +0000
The North Dakota Petroleum Council and state officials say a new oilfield safety training program, 18 months in the making, will be a time-saver for tens of thousands of contract workers. Fifty oil companies worked on the standards for the …
Tue, 25 Jun 2019 15:04:52 +0000
Federal investigators will review repair and inspection records on the skydiving plane that became inverted before crashing shortly after takeoff on Oahu’s North Shore, killing all 11 people on board in the deadliest civil aviation accident since 2011....
Tue, 25 Jun 2019 15:02:07 +0000
The Oregon Legislature has repealed a nearly 25-year-old law prohibiting new schools, hospitals, jails, and police and fire stations from being built in the state’s tsunami inundation zone. The Statesman Journal reported that coastal legislators, who p...
Tue, 25 Jun 2019 14:56:50 +0000
Detectives from the California Department of Insurance have arrested Ameer Almassou, Bariq Aleyada, and Ziad Jaber Jaber for allegedly stealing more than $22,000 from auto insurers by filing fraudulent insurance claims. One additional suspect, Muhamed ...
Tue, 25 Jun 2019 14:47:12 +0000
Topa Insurance Co. has named Kelly Yates assistant vice president of claims. Yates will be located in Topa’s Calabasas, Calif. office. Yates has oversight of Topa’s property and commercial auto business and its special investigations unit. He has more ...
Tue, 25 Jun 2019 14:23:31 +0000
WELCH, West Virginia —The opioid epidemic that has so far killed half a million Americans is routinely blamed on greedy drug makers, feckless doctors and lax regulators. But there’s another group that has contributed to the depth and duration of …
Tue, 25 Jun 2019 13:31:48 +0000
Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda will provide its multiline broking services through TradEd, its proprietary trading platform. ...
Tue, 25 Jun 2019 13:22:33 +0000
Federal legislation that sets aside $4 million in federal funds to study the effects of the mineral pyrrhotite on concrete aggregate has advanced in the U.S. Congress. Democratic U.S. Joe Courtney, whose eastern Connecticut district includes homeowners...
Tue, 25 Jun 2019 13:19:46 +0000
World Insurance Associates LLC (WIA), an independent insurance agency headquartered in Tinton Falls, N.J., has acquired Links Insurance Services LLC of Wall, N.J., on June 13, 2019. Links Insurance Services LLC was established in October 2001. The agen...
Tue, 25 Jun 2019 13:15:34 +0000
Experts say that southeastern Virginia could suffer $40 billion in losses if it’s struck by a major hurricane. Professors from Old Dominion University said in a recent report that the damages could seriously puncture the regional economy. The June 12 …
Tue, 25 Jun 2019 11:45:40 +0000
Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be taken in two parts: TMKI’s …
Tue, 25 Jun 2019 09:39:31 +0000
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the …
Tue, 25 Jun 2019 06:45:03 +0000
Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …
Tue, 25 Jun 2019 06:13:22 +0000
An Oklahoma judge has approved a revised $85 million settlement with Teva Pharmaceutical Industries Ltd. resolving claims by the state’s attorney general that the drugmaker helped fuel the U.S. opioid epidemic. The decision by Cleveland County District...
Tue, 25 Jun 2019 06:08:17 +0000
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Federated Rural Electric Insurance Exchange (Federated Rural) in Lenexa, Kansas. The outlook f...