April 19, 2021

News You Can Use

Mon, 19 Apr 2021 12:13:15 +0000
Helix Underwriting Partners Ltd., the Bermuda-based managing general agency, has expanded its agency platform into the excess casualty insurance segment. The move will see Tim Hadler join as chief underwriting officer to lead the new program, which has...
Mon, 19 Apr 2021 12:12:42 +0000
Two men died after a Tesla vehicle, which was believed to be operating without anyone in the driver’s seat, crashed into a tree on Saturday night north of Houston, authorities said. “There was no one in the driver’s seat,” Sgt. …
Mon, 19 Apr 2021 11:45:49 +0000
The U.S. Food and Drug Administration has asked Emergent BioSolutions Inc. to stop manufacturing new drug material at its plant in Baltimore, which was responsible for millions of ruined COVID-19 vaccine doses earlier this month. The U.S government had...
Mon, 19 Apr 2021 11:11:30 +0000
SHANGHAI – China launched the country’s first class-action lawsuit against a listed company on Friday, targeting Kangmei Pharmaceutical Co, as regulators vowed “zero tolerance” against accounting fraud and other capital markets “tumors.” The China Se...
Mon, 19 Apr 2021 11:08:49 +0000
The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile, general and professional liabi...
Mon, 19 Apr 2021 10:57:10 +0000
Guy Carpenter & Co., the reinsurance brokerage business of Marsh McLennan, announced the appointment of Anthony Cordonnier as managing director and global co-head of Cyber, effective the second half of 2021, and the promotion of Erica Davis to global c...
Mon, 19 Apr 2021 10:31:31 +0000
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced that it has agreed to a strategic partnership with MIG Holding Ltd. (MIG Group), which will see the company take a minority interest in Middle East & North Africa …
Mon, 19 Apr 2021 10:03:38 +0000
French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1, 2021 reinsurance renewals – a continuation of trends already seen during the January renewals. SCOR’s gross premiums...
Mon, 19 Apr 2021 09:15:49 +0000
HONG KONG – Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw …
Mon, 19 Apr 2021 06:21:11 +0000
Three houses that burned in Savannah earlier this month are believed to have been set on fire by burglars. Georgia Insurance Commissioner John King said Thursday that investigators have ruled the fires to be arsons and believe they are linked. …
Mon, 19 Apr 2021 05:48:24 +0000
Big ‘I’ of Michigan Jared Burkhart will be the next CEO of Big “I” Michigan (MAIA), the association announced. Burkhart joins the Big “I” team on May 3 and succeeds the current CEO, Bev Barney, who is retiring Aug. 31. …
Mon, 19 Apr 2021 05:00:39 +0000
Even before the pandemic, people with minor urgent health needs had started to turn to companies that offer on-demand video chats with physicians they don’t normally see. Insurers and employers even started buying access to this direct-to-consumer form...
Mon, 19 Apr 2021 05:00:32 +0000
Workspace management software company Proximity Space Inc. has launched Proximity Protect, a specialty, nationwide insurance brokerage offering coverage for coworking and flex space operators, members and tenants. According to the company, Proximity Pr...
Mon, 19 Apr 2021 05:00:24 +0000
Four drugmakers, including Johnson & Johnson and Teva Pharmaceutical Industries Ltd., will go to trial on Monday over claims they helped fuel an opioid crisis that has resulted in nearly 500,000 overdose deaths in the United States. The trial is …
Mon, 19 Apr 2021 04:09:56 +0000
INSUREtrust Hires Le, Yarbrough Atlanta-based INSUREtrust has hired Beveryly Le as an account manager. She will be responsible for developing and maintaining relationships with clients. Additionally, the company named Kyle Yarbrough as an operations sp...
Mon, 19 Apr 2021 04:06:31 +0000
Wright National Flood Insurance Services LLC and Zurich Insurance are now offering Zurich’s Residential Private Flood Insurance in California. The stand-alone product has previously been launched in Florida, New Jersey, South Carolina and Virginia, wit...
Fri, 16 Apr 2021 21:27:10 +0000
California farm labor company owners and siblings Elias Perez, 40, of Greenfield, and Alejandra Perez, 37, of Soledad, were arraigned on over 20 felony counts of insurance and tax fraud after allegedly underreporting payroll by over $17 million resulti...
Fri, 16 Apr 2021 16:57:05 +0000
The Tennessee Department of Commerce and Insurance (TDCI) has received accreditation from the National Association of Insurance Commissioners (NAIC). The NAIC is the U.S. standard-setting and regulatory support organization created and governed by the ...
Fri, 16 Apr 2021 16:52:17 +0000
Mississippi is asking President Joe Biden to approve a major disaster declaration to help local governments and nonprofit groups recover costs from responding to winter storms that brought large parts of the state to a standstill. Gov. Tate Reeves’ off...
Fri, 16 Apr 2021 16:48:07 +0000
An $8.3 billion idea by Warren Buffett’s Berkshire Hathaway Energy to build 10 new natural gas power plants across the state for emergency use turned into formal legislation on April 15, when the proposal was introduced during a state Senate …
Fri, 16 Apr 2021 16:25:01 +0000
The Louisiana Department of Insurance (LDI) has issued a cease and desist order to a Birmingham, Ala., insurance agency, Senior Care Services LLC, alleging the company uses false or misrepresentative facts and information such as submitting fraudulent ...
Fri, 16 Apr 2021 16:13:15 +0000
The National Insurance Crime Bureau (NICB), is urging Texas legislators to take steps to address the significant increase in catalytic converter thefts across the state. Texas is in the top five of states with the most catalytic converter thefts, the …
Fri, 16 Apr 2021 16:11:51 +0000
The number of traffic crash fatalities in South Dakota rose to 141 last year — an increase of 38% over the previous year. The South Dakota Department of Public Safety said in 2020, there were 132 crashes in which the …
Fri, 16 Apr 2021 16:11:21 +0000
South Texas officials say they are worried about flooding during the hurricane season starting June 1 from breaches in a levee system that remain after border wall construction was halted. Hidalgo County Judge Richard Cortez told Border Report that the...
Fri, 16 Apr 2021 16:08:55 +0000
Abry Partners (Abry), a Boston-based private equity firm, has acquired High Street Insurance Partners (HSIP), a full-service insurance brokerage, located in Traverse City, Michigan. Abry is acquiring HSIP from Huron Capital (Huron), a Detroit-based low...
Fri, 16 Apr 2021 15:58:20 +0000
Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report. Last year’s number was an improvement over 2019 when 13 impairme...
Fri, 16 Apr 2021 15:02:53 +0000
Legislation intended to increase injured California workers’ access to medical care by requiring the state to create a medical provider network as an alternative to private networks that render 90% of California workers’ compensation treatment would si...
Fri, 16 Apr 2021 14:27:16 +0000
California lawmakers rejected a bill that would have banned fracking in the state, succumbing to pressure from the powerful oil and gas industry and their labor union allies who warned the bill would have cost good-paying jobs. The bill was …
Fri, 16 Apr 2021 14:10:48 +0000
California officials on Thursday voted to toughen oversight of Pacific Gas & Electric, saying the utility had largely failed to perform required tree-trimming work near power lines in areas with the highest risk of wildfires. The unanimous vote by the …
Fri, 16 Apr 2021 14:03:12 +0000
Praedicat Inc., the Los Angeles-based liability emerging risk analytics company, announced the launch of its new Risk Scenario Analysis Platform, which widens the cross-line clash scope of its scenario suite. The platform also makes it easier for syndi...