June 29, 2017
Stafford & Co. Insurance
Thu, 29 Jun 2017 12:15:26 +0000
Many clients are unaware that intellectual property (IP) risks are frequently inadequately covered by traditional insurance products and, as a result, they actually could be “dangerously underinsured” due to these coverage gaps, according to Ian Lewis,...
Thu, 29 Jun 2017 11:50:37 +0000
PartnerRe Ltd. announced that Tad Walker, CEO Property & Casualty, and Marvin Pestcoe, chief risk and actuarial officer, will both retire from the company at the end of the first quarter of 2018. PartnerRe is conducting external searches for Walker’s …
Thu, 29 Jun 2017 11:30:15 +0000
Guy Carpenter & Co. has launched a new unit offering dedicated retrocession services to clients in the Asia Pacific region called GC Asia Pacific Retro. GC Asia Pacific Retro provides a wide range of retrocession property solutions, linking with Guy …
Thu, 29 Jun 2017 11:12:36 +0000
The European Commission proposed on Thursday establishing a new pan-European pension product to increase private savings for old age and boost the growth of an EU industry currently worth some 700 billion euros ($800 billion). The measure is part of …
Thu, 29 Jun 2017 10:55:09 +0000
A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11 trillion of assets. There are …
Thu, 29 Jun 2017 10:35:04 +0000
Allianz Global Corporate & Specialty (AGCS), Allianz Group’s unit for corporate & specialty insurance business, has opened a branch office in South Korea to serve global corporate clients. AGCS said it has become the first foreign non-life insurer in ...
Thu, 29 Jun 2017 10:19:30 +0000
Autonomous vehicle technology, a rise in on-demand transportation and a shifting of liability to manufacturers will shrink the auto insurance sector by more than 70 percent or $137 billion by 2050, according to updated research by KPMG. In a 2015 rep...
Thu, 29 Jun 2017 05:08:09 +0000
Authorities say an 84-year-old Florida doctor is accused of illegally distributing $10 million worth of pain pill prescriptions. Dr. Williem Ouw was arrested June 15 and held in a Fort Lauderdale jail until his release Wednesday on a $500,000 bond. …
Thu, 29 Jun 2017 05:02:07 +0000
Mississippi’s Court of Appeals says the city of Jackson can’t deny workers’ compensation benefits to a police officer injured in a wreck while he was speeding. The court ruled 10-0 Tuesday that the city must pay former officer Kearney Brown …
Thu, 29 Jun 2017 05:00:34 +0000
More than 130,000 Americans are killed annually by preventable causes, and the number has been climbing at a faster rate recently because of opioid abuse and car crashes involving drivers distracted by mobile devices. The death count jumped more than …
Thu, 29 Jun 2017 04:56:59 +0000
Legislation designed to address North Carolina’s opioid abuse problem is headed to Gov. Roy Cooper’s desk. The House gave final approval Tuesday to a bill that would improve the rules on prescribing and dispensing certain drugs like Oxycotin and morphi...
Thu, 29 Jun 2017 04:50:48 +0000
American Integrity Insurance Group (AI), a Florida-based insurance provider, has unveiled a private flood insurance option for homeowners. AI joins less than a handful of Florida-based insurers to offer its own flood program — and is one of only two …
Thu, 29 Jun 2017 02:59:37 +0000
The California Division of Workers’ Compensation has posted a report from the Rand Corp. with recommendations to prevent fraud in the workers’ compensation system. The Department of Industrial Relations last year requested that the Rand assess medical ...
Wed, 28 Jun 2017 21:53:04 +0000
The Workers’ Compensation Insurance Rating Bureau of California issued report containing estimated California workers’ compensation costs for 2016 based on insured employer experience. The report also reflects payments made by the California Insurance ...
Wed, 28 Jun 2017 16:52:15 +0000
A month after a 33-year-old worker died while working in an unprotected trench, U.S. Department of Labor Occupational Safety and Health Administration inspectors found another employee of the same Missouri plumbing contractor working in a similarly ...
Wed, 28 Jun 2017 16:45:39 +0000
U.S. Army Corps of Engineers officials are expected to begin repairing nine sections of a levee along the Black River in northeast Arkansas that was damaged by floods last month. Emergency workers are making plans to cover the holes in …
Wed, 28 Jun 2017 16:41:57 +0000
A company that operates a northwestern Indiana water park authorities closed after 11 children suffered chemical burns says it’s “profoundly sorry” for the injuries. An advertisement Seven Peaks Resorts placed in local newspapers says the children were...
Wed, 28 Jun 2017 16:35:43 +0000
Austin-based Watkins Insurance Group, one of the largest full-service, locally owned independent insurance agencies in central Texas, has added Chris Scott as vice president of Finance. Scott brings to Watkins Insurance Group more than 15 years of expe...
Wed, 28 Jun 2017 16:33:41 +0000
Starr Companies has promoted Richard Bessinger to chief underwriting officer of Starr Indemnity & Liability Co., Starr Specialty Insurance Co. and Starr Surplus Lines Insurance Co. Bessinger has 25 years of experience in the insurance industry and long...
Wed, 28 Jun 2017 16:33:03 +0000
AXIS Insurance, a business segment of AXIS Capital Holdings Limited, has appointed Marc Nance executive vice president, Excess & Surplus Property. He is based in Chicago. Nance is responsible for growing and managing AXIS Insurance’s E&S property busin...
Wed, 28 Jun 2017 16:25:58 +0000
About 300 BP workers commute 150 miles by helicopter from the Louisiana coast to a deep-sea drilling platform in the Gulf of Mexico that can produce more oil in a day than a West Texas rig can pump in a …
Wed, 28 Jun 2017 15:16:42 +0000
Alliant Insurance Services Inc. has named Andrew Laing a producer within the company’s Alliant Americas middle market division. Laing will be based in Portland, Ore. and be responsible for the design and delivery of insurance and risk management soluti...
Wed, 28 Jun 2017 15:10:12 +0000
NFP Corp. has acquired Flagstaff, Ariz.-based International Insurance Group Inc. Nate Watson, chief operating officer of IIG, will join as managing director of NFP’s property/casualty business and report directly to Terry Scali, CEO of NFP’s P/C busine...
Wed, 28 Jun 2017 15:03:17 +0000
Honolulu, Hawaii-based DTRIC Insurance Company Ltd. is now wholly-owned by Aioi Nissay Dowa Insurance Co. Ltd., a subsidiary of the MS&AD Insurance Group in Japan. ADI has been DTRIC’s majority shareholder since 1992. This transaction completes ADI’s b...
Wed, 28 Jun 2017 14:56:20 +0000
California has taken another step on toward allowing state residents to sue financial institutions for fraud, rather than letting banks force customers to settle disputes in arbitration, as a bill inspired by last year’s Wells Fargo scandal passed a key …
Wed, 28 Jun 2017 14:22:56 +0000
Beef Products Inc. has settled its defamation and libel lawsuit against American Broadcasting Co. and its reporter Jim Avila, the meat processor said on Wednesday. BPI had claimed ABC, a unit of Walt Disney Co., and Avila defamed the company …
Wed, 28 Jun 2017 13:16:00 +0000
The estimate for the property insurance market’s loss for tropical cyclone Debbie has risen to A$1.4 billion (US$1.1 billion) from an initial estimate of A$1.12 billion, according to PERILS, the independent Zurich-based organization that provides indus...
Wed, 28 Jun 2017 13:10:28 +0000
Arch Insurance announced additions to its travel insurance sales team. Cory Sobczyk and Dan Povondra have joined Arch Insurance as vice presidents of Business Development. Additionally, Lynn Barty has joined as regional sales director. The newcomers, w...
Wed, 28 Jun 2017 12:49:49 +0000
MS Amlin, the specialist global re/insurer, plans to re-domicile its European business, Amlin Insurance Societas Europaea (AISE), to Belgium in response to Brexit. MS Amlin said it will keep its global headquarters in London. MS Amlin is already an est...
Wed, 28 Jun 2017 12:37:31 +0000
Republicans and Democrats in Congress sparred on Tuesday over U.S. states setting rules for testing and deployment of self-driving cars and a proposal to allow automakers and technology companies to bypass existing regulations in introducing autonomous...