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News – Insurance Journal

05/29/2020 03:38 PM
Insurer Group Has Issue with Colorado Insurance Department’s COVID-19 Memo
The American Property Casualty Insurance Association is taking issue with tentative plans by the Colorado Department of Insurance to halt the use of credit information in Colorado during the pandemic. A recent draft bulletin from the department directs property/casualty insurers …

05/29/2020 12:59 PM
Swiss Re Corporate Solutions Launches Parametric Product for Hail-Proned States
Swiss Re Corporate Solutions (SRCS) has expanded its parametric offering with the launch of HAIL, a parametric hail insurance cover. The new product is designed to protect companies in the United States from the financial impact of a significant hail …

05/29/2020 12:57 PM
AssuredPartners Acquires Cypress Insurance Group of Florida
AssuredPartners, Inc. has acquired Cypress Insurance Group, Inc. of Fort Lauderdale, Fla. The team of 20 will remain under the operational leadership of Terry Bond and Debbie Arciola. The agency currently reports $3 million in annualized revenues. AssuredPartners Regional President …

05/29/2020 12:52 PM
Construction Co. Owner Cited 27 Times Before Fatal Trench Collapse in Mississippi
The owner of the contracting company of which two workers were killed in a trench collapse in Mississippi earlier this month was previously issued 27 federal citations for safety violations. Shane Henderson was the president of the now-defunct Gilco Contracting, …

05/29/2020 12:18 PM
Price Forbes’ Gilmore Appointed Chairman of Worldwide Broker Network
The Worldwide Broker Network has appointed Price Forbes Executive Director Alex Gilmore as chairman. Gilmore previously served as WBN’s Treasurer. He takes over the voluntary position of chairman from Jim Watt of EPIC Insurance Brokers & Consultants, who will continue …

05/29/2020 12:08 PM
Louisiana Medical Marijuana Program Expansion Nears Final Passage
Louisiana lawmakers are one step from removing most restrictions on which medical conditions are eligible for medical marijuana, allowing doctors to recommend the treatment for any patient they believe it would help. The Senate voted 28-6 on May 27 for …

05/29/2020 12:02 PM
Unlicensed Louisiana Insurance Producer Told to ‘Cease and Desist’
A Louisiana man who insurance regulators say continued to transact insurance business after having had his state insurance licensed revoked has been issued a cease and desist order by Insurance Commissioner Jim Donelon. The Louisiana Department of Insurance reported that …

05/29/2020 11:58 AM
S&P Affirms Munich Re’s ‘AA-‘ Ratings, Reflecting Sufficient Capital for COVID-19 Crisis
S&P Global Ratings has affirmed its “AA-” long-term issuer credit and financial strength ratings for Munich Re and its subsidiaries, with a stable outlook. The stable outlook reflects S&P’s view that Munich Re will maintain capital adequacy above the “AA” …

05/29/2020 11:27 AM
Insurance Survey Asks: How Is Pandemic Affecting Your Life, Your Work, Your Industry?
How is the coronavirus pandemic affecting your life and your work? Now and going forward? No matter where you work in the P/C insurance industry, your experience is important. Learn how your experience compares with that of your industry peers …

05/29/2020 11:20 AM
U.S. Court Says State Courts Are Proper Forum for Climate Suits Against Big Oil
Big Oil lost a pair of court battles Tuesday that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change. The 9th U.S. Circuit Court of Appeals rejected arguments by energy …

05/29/2020 11:00 AM
K2 Insurance Services Completes Purchase of MGA Pioneer Underwriters
K2 Insurance Services LLC, the specialty insurance services holding company, has completed the purchase of Pioneer Underwriters, the London-based managing general agency. The deal was facilitated with a portfolio transfer, whereby Pioneer’s ongoing underwriting portfolio, together with underwriting and support …

05/29/2020 10:36 AM
Agency Says Asbestos Cleanup Complete in Montana Superfund Site
The U.S. Environmental Protection Agency announced the completion of all required cleanup activities within a unit of a Montana Superfund site. The federal agency removed a portion of an asbestos-contaminated mining operation in Libby from its National Priorities List, The …

05/29/2020 10:24 AM
Virus from Africa Kills Horses in Thailand, Showing Dangers of Biosecurity Gaps
When horses suddenly started dying in Thailand as the nation locked down to stem the spread of COVID-19, researchers feared the cause was another deadly bat-borne virus that could kill humans. “We had no idea what was causing it,” said …

05/29/2020 09:55 AM
Maine’s AK Insurance Joins Satellite Agency Network Group
AK Insurance of Westbrook, Maine, recently joined Satellite Agency Network (SAN) Group Inc., an alliance of independent insurance agencies in the Northeast. AK Insurance was founded in April 2020 by owner Alex Kapothanasis and provides a full line of property …

05/29/2020 09:51 AM
Farm Workers Getting Sick, Spreading Coronavirus As Peak Produce Season Begins
All of the roughly 200 employees on a produce farm in Tennessee tested positive for Covid-19 this month. In New Jersey, more than 50 workers had the virus at a farm in Gloucester County, adding to nearly 60 who fell …

05/29/2020 09:47 AM
New Hampshire Man Charged in Scheme that Used Bitcoin to Buy Personal Data
A New Hampshire man has been charged in a fraud scheme that involved using Bitcoin to buy stolen personal data belonging to people across the country, officials said. Jonathan Nguyen, 23, of Windham, was charged Tuesday in federal court with …

05/29/2020 09:44 AM
New Lawsuit Filed Against Virginia Tech Over Hazing
Another former cadet has filed a lawsuit against Virginia Tech over being suspended in connection with a blood-pinning ceremony. The lawsuit filed Wednesday in federal court alleges the university violated the due process rights of Christopher J. Dana when it …

05/29/2020 09:15 AM
U.S. Warns Partners, Industrial Firms About Russian Hacking Operation
The U.S. National Security Agency on Thursday warned government partners and private companies about a Russian hacking operation that uses a special intrusion technique to target operating systems often used by industrial firms to manage computer infrastructure. “This is a …

05/29/2020 09:10 AM
Federal Reserve Finds Businesses Not So Optimistic About Economy
Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration’s optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central …

05/29/2020 08:56 AM
California Approves PG&E Bankruptcy Plan With Oversight, Safety Conditions
California regulators approved PG&E Corp.’s $58 billion reorganization plan, bringing the power giant another step closer to exiting the biggest utility bankruptcy in U.S. history. The state’s Public Utilities Commission unanimously voted in favor of PG&E’s proposal after the company …

05/29/2020 08:34 AM
Israel Thwarts Major Cyber Attack Against Its Water Systems
Israel’s national cyber chief Thursday officially acknowledged the country had thwarted a major cyber attack last month against its water systems, an assault widely attributed to arch-enemy Iran, calling it a “synchronized and organized attack” aimed at disrupting key national …

05/29/2020 08:16 AM
Google Urges EU to Use Current Laws, Not New Ones, to Regulate Artificial Intelligence
Google has called on the European Union to use current EU laws to govern the use of artificial intelligence rather than draft new ones and cautioned against a one size fits all regulatory framework because of AI’s diverse applications. The …

05/29/2020 03:38 AM
Mississippi Governor Says Reopening Plan has ‘Freedom with Risk’
Mississippi Gov. Tate Reeves said Wednesday that he will allow all types of businesses to reopen Monday but they must follow safety guidelines to try to minimize spread of the new coronavirus. “This does not mean the threat is gone,” …

05/29/2020 03:06 AM
Survey: Florida Residents More Concerned for Hurricane Season Amid Pandemic
As Florida gets ready to officially start hurricane season, a new survey shows a majority of residents are more concerned for this year’s potential storms than in previous years, given the simultaneous continuing issues related to the COVID-19 pandemic. According …

05/29/2020 01:44 AM
Texas Windstorm Insurer Outlines Funding for 2020 Hurricane Season
The board of directors of Texas’ property insurer of last resort for wind and hail in the state’s coastal counties in February set a goal of $4.2 billion in catastrophe funding for 2020. At a meeting of the Texas Windstorm …

05/29/2020 01:30 AM
2 Companies Fined $1M Each Over Kansas Chemical Leak
Two companies that caused a chlorine gas leak over Atchison, Kansas, in 2106 have each been fined $1 million for violating federal clean air laws. Harcros Chemicals Inc., and MGP Ingredients Inc., had pleaded guilty to negligently violating the Clean …

05/29/2020 01:20 AM
WSS Hires Easley as Sr. Broker/Underwriter in Texas
WSS, a member of XPT Group, a specialty insurance distribution company, has added Meghan Easley as senior broker/underwriter in its Plano, Texas, office. Easley brings 15 years of industry experience, most recently in underwriting and brokerage business. She has extensive …

05/29/2020 01:18 AM
South Dakota Property Owners Sue Over Recently Exposed Mine, Sinkhole
Residents of a Black Hawk, South Dakota, neighborhood where a sinkhole has exposed an abandoned mine endangering their properties have filed a $75.5 million lawsuit claiming government entities and private developers were negligent. Attorney John Fitzgerald is representing more than …

05/29/2020 01:00 AM
Governor Orders Probe of Failed Michigan Dams
Gov. Gretchen Whitmer has ordered an investigation to determine what caused two dams in central Michigan to fail, leading to devastating floods in several communities and forcing about 11,000 people to evacuate their homes. Whitmer ordered the Michigan Department of …

05/29/2020 01:00 AM
University in Utah, Parents Didn’t Settle Lawsuit Over Slain Student
The University of Utah did not reach a settlement after two of mediation with the parents of slain track star Lauren McCluskey who filed a $56 million lawsuit over her death in 2018. The McCluskeys’ attorney Jim McConkie described the …

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