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News – Insurance Journal

02/20/2020 03:31 PM
Colorado County Will Screen Insurers for Fossil Fuel Investments
“We have front row seats,” said Elise Jones, a Boulder County commissioner. Jones along with two other commissioners oversees government affairs in the Colorado county of 330,000 or so at the base of the foothills of the Rocky Mountains. Her …

02/20/2020 01:11 PM
Usage-Based Insurance Pioneer Metromile Now Offering Its Technology as Claims Tool
Now that most major carriers are selling usage-based car insurance, one of the pioneers in that sector is selling its technology to other carriers as a claims management tool. San Francisco-based Metromile announced that Tokio Marine Holdings had deployed a …

02/20/2020 12:58 PM
Bills in Congress, States Seek to Curb Litigation Funding
Lawmakers in three states and in Congress have introduced bills to impose more controls on litigation funding companies, which insurers contend are one of the factors leading to an increase in “nuclear verdicts” that have pushed up claims costs and …

02/20/2020 12:39 PM
Think Tank Urges Flood Insurance Program to Stop Enabling Building in High Risk Areas
The threat of sea-level rise should force policymakers to rethink policies that encourage development in flood-prone regions. One place to start is with the National Flood Insurance Program (NFIP), according to the Washington, D.C. free market think tank R Street. …

02/20/2020 12:27 PM
Floodwaters Begin to Recede in Storm-Ravaged Mississippi
Hundreds of homes and businesses remained without power Wednesday as floodwaters receded around Mississippi’s capital, and it was unclear when the lights will come back on. Residents in hard-hit areas near Jackson are being allowed to return back home as …

02/20/2020 11:27 AM
Attorney General Barr: Should Tech Giants Still Be Free From Liability for Content?
U.S. Attorney General William Barr on Wednesday questioned whether Facebook, Google and other major online platforms still need the immunity from legal liability that has prevented them from being sued over material their users post. “No longer are tech companies …

02/20/2020 10:57 AM
PG&E Banking on Big Profits After Utility Leaves Bankruptcy
Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. The nation’s largest utility …

02/20/2020 09:29 AM
Ex-Student, University of Arkansas, Settle Rape Lawsuit
The University of Arkansas and a former student reached a settlement agreement in a lawsuit alleging school officials acted with “deliberate indifference” after she reported being sexually assaulted by another student on campus. The student will receive $100,000 in the …

02/20/2020 09:25 AM
Coronavirus Raises Insurance Questions But Catastrophe-Tested Insurers Are Prepared
As the coronavirus outbreak continues to cause concern around the globe, the insurance industry is facing a potentially far-reaching impact but has the experience to handle what might come its way. Based on what the industry has learned from historical …

02/20/2020 09:21 AM
Nebraska Theater Bar Could Lose License for Serving Tainted Drinks
Nebraska’s liquor control agency has called a movie theater bar in suburban Omaha to account for accidentally serving two customers cocktails that contained cleaning solution. The Alamo Drafthouse in La Vista could have its liquor license suspended, canceled or revoked …

02/20/2020 08:28 AM
Wendy’s Pays $400K to Resolve Child Labor Law Allegations in Massachusetts
Fast-food chain Wendy’s has agreed to pay $400,000 to resolve allegations that it violated child labor laws by having teenage employees at dozens of Massachusetts restaurants work later and longer than allowed, the state attorney general’s office announced Tuesday. The …

02/20/2020 08:11 AM
Massachusetts’ J.E.D. Insurance & Financial Service Agency Joins SAN Group
J.E.D. Insurance & Financial Service Agency recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. The full-service agency specializes in home, automobile, life and business insurance. J.E.D. Insurance is located in the …

02/20/2020 08:09 AM
Cannabis Insurance Group Expands Coverages, Adds Managing General Agent
Garnet Underwriting Managers (GUM), the managing general underwriter assigned to manage Garnet Casualty Insurance Corporation, has signed its first managing general agent, Conway E&S of Warrendale, Penn. This is a step in Garnet Underwriting Managers’ continued advancement of its cannabis …

02/20/2020 07:36 AM
BHSI Taps Swiss Re’s Weinmann to Head Customer & Broker Engagement in Germany
Berkshire Hathaway Specialty Insurance (BHSI) announced further expansion of its European team, naming Daniel Weinmann as head of Customer & Broker Engagement in Germany. Weinmann comes to BHSI with more than 20 years of insurance industry experience. He was most …

02/20/2020 07:11 AM
China’s Ping An Insurance Says Coronavirus Outbreak Could Hit Business
Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value, said on Thursday that the coronavirus may have an impact on its business. Ping An’s comments on the virus were included in its annual results, where …

02/20/2020 05:31 AM
AXA Appoints Chubb’s Gunter as CEO of AXA XL, Replacing Hendrick
AXA announced the appointment of Scott Gunter as chief executive officer of AXA XL. He will replace Greg Hendrick, who has decided to pursue other opportunities outside the group. Gunter was previously senior vice president of Chubb Group and president …

02/20/2020 04:52 AM
Activist Hedge Fund Elliott Investment Builds Stake in Dutch Insurer NN Group
Elliott Investment Management, U.S. billionaire Paul Singer’s activist hedge fund firm, has built up a 3.04% stake in Dutch insurer NN Group, a filing by the Dutch financial regulator AFM showed on Thursday. Elliott’s move sent NN Group shares up …

02/20/2020 04:42 AM
Swiss Re 2019 Profit Hit by Natural Disasters, U.S. Casualty Claims
Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, sending its shares lower. Net profit in the year …

02/20/2020 04:25 AM
AXA Lowers 2020 Profit Guidance for XL Unit
French insurer AXA lowered its 2020 profit guidance for its companies-focused XL unit and named a new boss for the division, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become more frequent. Insurers …

02/20/2020 03:00 AM
Tennessee Teen Kidnapped by Teacher Settles with School District for $650K
A lawsuit has been settled between a Tennessee school district and a former student who was kidnapped by a teacher when she was 15. Tad Cummins sparked a 39-day nationwide manhunt when he fled the state with the former Culleoka …

02/20/2020 02:57 AM
Tennessee Grand Jury Wants Criminal Investigation Into Coal Ash Worker Illnesses
A grand jury in Tennessee said it would support a criminal investigation into claims that a Tennessee Valley Authority contractor failed to protect workers cleaning up a massive coal ash spill, many of whom later fell ill and some of …

02/20/2020 02:52 AM
Farmers Insurance Expands Into South Carolina with Online Auto Insurance Policy
Farmers Insurance has launched its first auto insurance product in South Carolina, delivered exclusively through a new digital and customizable auto insurance policy available on Farmersdirect.com. The digital auto insurance product in South Carolina offers quick quoting and a self-serve …

02/20/2020 01:46 AM
Suit Against Army Corps for Post-Harvey Flooding Dismissed by Federal Judge
A federal judge has ruled that the U.S. Army Corps of Engineers isn’t liable for flood damage to thousands of Houston homes after the agency cracked open the gates on two massive dams in the wake of Hurricane Harvey. In …

02/20/2020 01:36 AM
Employee Accused of Stealing from Nebraska Insurance Agency Fined $400
A woman accused of stealing from a Beatrice, Neb., insurance agency has been fined $400. Gage County Court records say Nicole Nelson paid the fine; the 45-year-old had pleaded no contest to a misdemeanor theft charge. She originally was charged …

02/20/2020 01:34 AM
Viewpoint: 4 Things Insurance Firms Can Do to Improve Efficiency, Data Use
Digital transformation is making it possible for the insurance industry to engage customers with personalized interactions that lead to products and services tailored to their individual insurance needs. Unfortunately, the industry isn’t exactly made up of a bunch of early …

02/20/2020 01:00 AM
OSHA Fines Companies After 2 Killed at Oregon Festival
The Oregon Occupational Safety and Health Administration has fined two companies for safety violations that led to the deaths of two workers at a Portland, Ore., area music festival. OSHA issued $31,000 in fines to Pickathon LLC and GuildWorks LLC …

02/20/2020 01:00 AM
Insurers Finding It Increasingly Difficult to Fill Vacant Positions
Most insurance companies plan to either maintain current staffing or add new employees over the next 12 months, The Jacobson Group and Aon have found. At the same time, their new Semi-Annual U.S. Insurance Labor Outlook Study determined that companies …

02/20/2020 01:00 AM
Oregon Bar Sued for $2.1M for Over-Serving Man Who Killed 2
The estate of a man who was killed in a drunken driving crash in 2017 and a crash victim who survived are suing the Prineville, Ore., bar that over-served driver Justin Bittick. The estate of Stephan Mitchell Leader-Bowles filed suit …

02/20/2020 01:00 AM
Arizona Flood Control Project Receives Federal Funding
Flagstaff, Ariz.’s mayor hailed a federal agency’s commitment of $52 million for a major flood control project, saying it will protect the northern Arizona city from potentially catastrophic effects of flooding from storm runoff while promoting economic development of currently …

02/19/2020 05:26 PM
World Bank Pandemic Bond Losing Value, Facing Criticism as Coronavirus Spreads
A World Bank bond designed to deliver funding to help the world’s poorest countries to tackle fast-spreading diseases has lost half its value as the coronavirus outbreak in China has fanned fears that investors could face hefty losses. After the …

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