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News – Insurance Journal

07/20/2018 04:47 PM
Study Examines California Worker’s Comp Prescription Drug Outcomes Under New Formulary
A new analysis offers a preliminary look at Utilization Review and Independent Medical Review outcomes involving pharmaceutical requests for California injured workers since the state implemented a workers’ compensation formulary in January. The analysis from the California Workers’ Compensation Institute …

07/20/2018 12:22 PM
UK Government Officials Identify Security Risks with Huawei’s Telecom Equipment
Technical and supply-chain issues with equipment made by Chinese firm Huawei have exposed Britain’s telecom networks to new security risks, a government report said on Thursday. The assessment, made in a report signed off by Britain’s GCHQ spy agency, will …

07/20/2018 11:46 AM
Blaze at Chicago-Area Condo Complex Displaces Hundreds
Fire has left homeless hundreds of residents of a suburban Chicago condominium complex. About 150 firefighters from 50 departments near Prospect Heights battled the fire, which Prospect Heights Fire Chief Drew Smith said began about 1:30 p.m. Wednesday and continued …

07/20/2018 11:42 AM
Baker Appointed Assistant VP at RHSB in Texas
Texas-based independent insurance brokerage firm, RHSB, has added Mike Baker as assistant vice president. He will be a part of the growing Commercial Property & Casualty sales practice. Baker has over a decade of experience assisting commercial clients with their …

07/20/2018 11:36 AM
Explosion, Fire at Oklahoma Disposal Well Injures 3
Central Oklahoma authorities say three people have been injured in an explosion and fire at a saltwater disposal well. Kingfisher County emergency management officials say the explosion occurred shortly after 3 p.m. Wednesday at a saltwater disposal well south of …

07/20/2018 11:34 AM
Ohio Chemical Plant Explodes, Catches Fire, Prompts Evacuations
An Ohio chemical manufacturing plant has exploded and caught fire, prompting authorities to evacuate a large area around it. Emerald Performance Materials says it evacuated the plant in Akron and notified the fire department after the Wednesday afternoon explosion. It …

07/20/2018 11:29 AM
Arkansas Approves Rules with Opioid Prescription Limits
An Arkansas panel has given final approval to regulations that will require doctors who prescribe high doses of opioid pain medication to follow guidelines meant to limit potential abuse, including exploring alternative treatments and limiting prescriptions. The Legislative Council’s Administrative …

07/20/2018 10:46 AM
Alaska Cannabis Festival Under Investigation for Allowing Pot Consumption
Organizers of an Alaska cannabis festival who allowed adult participants to consume pot in public are facing an investigation and possible fine. The director of the Alaska Alcohol and Marijuana Control Office will recommend a penalty for Alaska Hempfest, a …

07/20/2018 10:44 AM
$10M Award to Man Hit By Garbage Truck Reinstated by Oregon Court
The Oregon Court of Appeals has ruled that a trial judge shouldn’t have reduced a jury’s award to a man whose leg was severed by a garbage truck in downtown Portland. In reinstating the award, the Appeals Court said the …

07/20/2018 10:42 AM
Montana Jury Awards $300K in Youth Center Sex Abuse Case
A Montana jury has awarded $300,000 to a mother who claimed a Billings youth treatment center failed to protect her son from being sexually abused by other residents. The Billings Gazette reports the jury awarded the damages Wednesday on claims …

07/20/2018 10:28 AM
Lyft Will Beef Up Background Checks Following California Driver Arrest
Ridesharing company Lyft said Wednesday that it’s beefing up its background checks after a driver arrested for rape was found to be in the United States illegally. The company’s “enhanced detection processes” will apply to new applicants and existing drivers, …

07/20/2018 09:10 AM
Insurance Salesman Sentenced for Stealing Man’s Inheritance in New Jersey
An insurance salesman convicted of stealing a client’s inheritance is now headed to prison. Federal prosecutors say Patrick McCullagh received a three-year sentence Wednesday. The 70-year-old Georgetown, Kentucky, man must also pay $98,067 in restitution. Prosecutors say McCullagh defrauded the …

07/20/2018 09:05 AM
12 Sickened By Carbon Monoxide at Maryland Work Site
Officials in Maryland say 12 construction workers were taken to a hospital after they were sickened by carbon monoxide at a work site. Anne Arundel County Fire Department officials say firefighters were called to the Navy Federal Credit Union in …

07/20/2018 09:00 AM
Core Assurance Partners Acquires Virginia’s E.L. Creech & Co.
Core Assurance Partners, a financial services company headquartered in Hampton Roads, Va., has acquired E. L. Creech & Co. Inc., a fourth-generation, family-owned property and casualty firm based in Virginia Beach, Va., where it will maintain its offices. Terms of …

07/20/2018 08:50 AM
New York’s Global Warming Suit Against Oil Companies Tossed
A U.S. judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. U.S. District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp., Chevron Corp., …

07/20/2018 07:59 AM
Thieves Steal $10 Million of Cobalt from Vollers Group’s Rotterdam Warehouse
It’s not just hedge funds that have noticed the cobalt boom — thieves have too. About 112 metric tons of cobalt was stolen from a warehouse in Rotterdam run by Vollers Group Gmbh earlier this month, according to a statement …

07/20/2018 06:54 AM
U.S. Energy Regulator Pushes for Disclosure of Cyber Attacks on Electric Grid
The U.S. government on Thursday asked power generators to disclose more information about cyber attacks amid growing concern that foreign hackers could disrupt the electric grid. The Federal Energy Regulatory Commission (FERC), an energy industry regulator, called for the power …

07/20/2018 06:37 AM
Climate Change Is Beginning to Shift Planet’s Seasons: Scientists
Pouring through four decades of satellite data, climate scientists have concluded for the first time that humans are pushing seasonal temperatures out of balance—shifting what one researcher called the very “march of the seasons themselves.” Ever-mindful of calculable uncertainty and …

07/20/2018 06:11 AM
Markel Licensed to Form Insurer in Germany, Securing Post-Brexit EU Access
Markel Corp. announced it has been granted a license by the German federal financial supervisory authority, BaFin, to establish an insurance company in Germany. Following Brexit, the United Kingdom’s exit from the European Union, Markel Insurance SE (MISE) will be …

07/20/2018 05:59 AM
Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass
Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance industry. ChainThat made a similar move …

07/20/2018 05:02 AM
AXIS Insurance Promotes Randell to Head of Canada Insurance & Chief Agent, Canada
AXIS Insurance, a business segment of AXIS Capital Holdings Ltd., announced the promotion of Brad Randell to head of Canada Insurance, and chief agent, Canada, subject to review and/or approval of various Canadian regulatory entities. Randell will oversee AXIS’ insurance …

07/20/2018 01:00 AM
Drug Firms Sue Illegal Web Sites for Opioid Crisis
Two pharmaceutical companies say the real culprits in the opioids epidemic are illegal dealers of the painkillers and want them to be on the hook financially for any damages potentially assessed against drugmakers. Endo International Plc and Mallinckrodt Plc sued …

07/20/2018 01:00 AM
Wells Fargo Begins Refunds of Add-On Product Fees
Wells Fargo & Co. is issuing refunds for monthly fees it charged on so-called add-on products that customers may not have fully understood. “We are reviewing add-on products sold to consumers by the bank or its service providers and if …

07/20/2018 01:00 AM
Cybersecurity Tops D&O Liability Risks
Cybersecurity is the top directors and officers (D&O) liability concern for organizations today, while claims brought by employees, including claims for harassment or discrimination, and regulatory enforcement risks are also critical D&O exposures. According to Willis Towers Watson’s 2018 Management …

07/20/2018 01:00 AM
Safety Agency Finds 10% of Veteran Coal Miners Have Black Lung Disease
More than 10 percent of America’s coal miners with 25 or more years of experience have black lung disease, the highest rate recorded in roughly two decades, according to a government study released on Thursday that showed cases concentrated heavily …

07/20/2018 01:00 AM
Bond Insurer Urges Receiver for Puerto Rico’s Bankrupt Utility
MBIA Inc.’s National Public Finance Guarantee is urging Puerto Rico’s federal board to consider putting a receiver in charge of the island’s bankrupt power utility after the electricity provider lost two chief executive officers last week amid an uproar over …

07/20/2018 12:41 AM
7th Lawsuit Against Opioid Makers Filed by Kentucky AG
The company’s website claimed its product would “enable patients to stay in the workplace, enjoy interaction with family and friends and remain a member of society.” But Kentucky’s Attorney General is more interested in what the company did not say: …

07/20/2018 12:34 AM
North Carolina Scrap Metal Yard Fire Leads to Neighbor Evacuations, Power Outages
A fire caused heavy damage at a North Carolina scrap metal yard, forced evacuations from a nearby neighborhood and cut electricity to around 1,400 customers. Officials in Salisbury said in a statement the fire erupted Wednesday at Holmes Iron and …

07/20/2018 12:15 AM
Brooks Insurance Appoints Sammons to Lead Florida/Southeast Market Expansion
Brooks Insurance Agency, a multi-line wholesaler and broker, has hired Robert Sammons as vice president and broker. In his new role, Sammons will be responsible for wholesale brokering and servicing small- and medium- sized retail agencies and brokers with a …

07/19/2018 09:23 PM
Michigan Court Backs Insurer Denying $300K Payout in Head-On Crash
An insurance company refused to pay $300,000 in a head-on crash that killed a Michigan man and his mother after a doctor came up with a key conclusion: Robert Krugman likely drifted out of his lane because of a heart …

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