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News Center

News – Insurance Journal

Texas Bill Allowing Workers’ Comp Division Fraud Unit Advances
The Texas Senate has passed legislation that would allow the Texas Division of Workers’ Compensation to create a fraud unit. The Senate passed HB 2053 on May 24; it was previously approved in the House. The bill would give the …

POSTED MAY 26, 2017 4:45 PM
Storms Bring Tornadoes, Flash Floods, Evacuations in Midwest
Heavy rainfall that sparked flash flooding in Fort Wayne, Ind., forced motorists to flee submerged cars and prompted the evacuation of about 20 homes in the northeastern Indiana city. And in Ohio, authorities say tornadoes that touched down in three …

POSTED MAY 26, 2017 4:38 PM
A.M. Best Assigns Ratings to Wisconsin’s Integrity Select Insurance
A.M. Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a+” to Integrity Select Insurance Company (Integrity Select) in Appleton, Wis. The outlook assigned to these credit ratings is stable. Integrity Select is a newly …

POSTED MAY 26, 2017 4:35 PM
Report: Deadly St. Louis Tank in Deadly Explosion Needed Emergency Repairs
A giant steam-filled tank weighing nearly 2,000 pounds (900 kilograms) that exploded at a St. Louis box plant, flew a quarter-mile into the air and smashed into a neighboring building, was being used despite needing emergency repairs, federal investigators said …

POSTED MAY 26, 2017 4:30 PM
OSHA, Mid Continent Recommit to Oklahoma Oil and Gas Worker Safety Alliance
U.S. Department of Labor’s Occupational Safety and Health Administration and Mid Continent Exploration and Production Safety Network have an alliance to promote safety at oil and gas operations in Oklahoma. OSHA reported that the alliance is committed to providing information and …

POSTED MAY 26, 2017 4:26 PM
Tribune: Governor Appears Undecided on Signing Texas Texting-While-Driving Ban
Note: This article originally appeared in the Texas Tribune. Gov. Greg Abbott appears to be undecided on whether he will sign a proposed statewide ban on texting while driving that is now on his desk. Abbott’s predecessor, Rick Perry, vetoed …

POSTED MAY 26, 2017 4:21 PM
A.M. Best Lifts AIG’s Ratings ‘Under Review’ Status Following Duperreault’s Arrival
A.M. Best this week released American International Group from “under review” special scrutiny following the insurer’s bringing on industry veteran Brian Duperreault as president and chief executive officer and after reviewing recent financial data and meeting with AIG management. “AIG maintains …

POSTED MAY 26, 2017 4:14 PM
AmWINS and Networked Deal Plays to Strengths of Both Firms, Execs Say
The acquisition by AmWINS Group Inc. at the end of last month of Networked Insurance Agents will achieve a number of objectives for both the Charlotte, N.C.-based global distributor of specialty insurance products and services and the California-based aggregator. Namely, …

POSTED MAY 26, 2017 3:42 PM
Pacific Hurricane Season Depends on El Niño: NOAA
Forecasters say the central Pacific region around Hawaii can expect a normal or slightly above-average hurricane season, depending largely on the presence of El Niño conditions. Chris Brenchley, director of the National Oceanic and Atmospheric Administration’s Central Pacific Hurricane Center, …

POSTED MAY 26, 2017 3:37 PM
Southern California Neighborhood Flooded Due to Seawall Damage
A Southern California coastal community was flooded with two feet of ocean water after a seawall was damaged by a construction crew. The Orange County Register reported workers were doing demolition work in Newport Beach and accidentally damaged the wall …

POSTED MAY 26, 2017 3:33 PM
Small Undersea Quake Jostles California Coast West of Malibu
A minor undersea earthquake has jiggled a small stretch of the Southern California coast in Los Angeles and Ventura counties, the U.S. Geological Survey confirmed. The USGS says the magnitude-3.3 temblor occurred just before 7:20 a.m. Thursday. The epicenter was …

POSTED MAY 26, 2017 3:25 PM
Rising Seas May Wipe Out Jersey Towns and Millions in AAA Bonds
Few parts of the U.S. are as exposed to the threats from climate change as Ocean County, New Jersey. It was here in Seaside Heights that Hurricane Sandy flooded an oceanfront amusement park, leaving an inundated roller coaster as an …

POSTED MAY 26, 2017 2:56 PM
UK’s Legal & General Chooses Dublin as Post-Brexit Base for Some Operations
British insurer Legal & General said it will move some of its investment management operations to Ireland to ensure it can continue to serve its customers after Brexit. In a win for Dublin’s campaign to attract financial services firms in …

POSTED MAY 26, 2017 2:32 PM
The Hartford Names Firstenberg P/C Insurance Chief Underwriting Officer
The Hartford has named David Firstenberg as chief underwriting officer for the company’s property/ casualty insurance businesses, replacing Mo Tooker, who was recently named head of The Hartford’s Middle Market segment. Firstenberg will oversee the common underwriting framework across The Hartford’s Small Commercial, Middle Market, Specialty Commercial and Personal Lines segments, …

POSTED MAY 26, 2017 2:27 PM
Cyber Insurance Market Growing Slower Than Expected: Allianz
The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros ($224 million), Axel Theis, Allianz …

POSTED MAY 26, 2017 2:07 PM
NOAA Updates Forecast for Atlantic Hurricane Season, Pacific’s El NIno
The Atlantic hurricane season will likely churn out an above-average 11 to 17 named storms, in part due to fading odds than an El Nino will form in the Pacific. Of storms that emerge during the six-month season that begins …

POSTED MAY 26, 2017 1:35 PM
Vermont Governor Vetoes Marijuana Bill, Wants Changes Made
Vermont Republican Gov. Phil Scott on Wednesday vetoed a bill that would have made Vermont the ninth state to legalize recreational marijuana but indicated that he was willing to work with the Legislature on a compromise. Scott said he was …

POSTED MAY 26, 2017 1:29 PM
Connecticut’s Smith Brothers Hires Peruccio from Cigna Healthcare
Smith Brothers, a Glastonbury, Conn.-based insurance broker, has added Chelsea Peruccio as an employee benefits advisor. Her responsibilities include new business development, account management and creating employee benefit strategies to help clients achieve positive results. She has experience working with clients in …

POSTED MAY 26, 2017 1:20 PM
Executive Changes Announced at Massachusetts’ Hospitality Insurance Group
After 32 years as a member of Hospitality Insurance Group’s Board of Directors, E. Thomas McCabe Jr. of Westborough, Mass., will be stepping down as chairman. Before joining Hospitality Insurance Group, McCabe was a past president of Massachusetts Restaurant Association …

POSTED MAY 26, 2017 1:06 PM
Hanover Insurance Names Zurich’s Salvatore as President of Specialty
The Hanover Insurance Group Inc., a Worcester, Mass.-based holding company for several property and casualty insurance companies, has appointed Bryan J. Salvatore as executive vice president and president of specialty, effective June 12. In this role, Salvatore will lead the …

POSTED MAY 26, 2017 12:47 PM
States Move to Ban Asking Job Applicants About Past Salary
An awkward job interview question — how much did you make at your last job? — is getting banned in some parts of the country. Massachusetts, New York City and Philadelphia have passed laws that bar employers from asking applicants …

POSTED MAY 26, 2017 12:01 PM
A.M. Best Affirms Ratings of PartnerRe & Subsidiaries
A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Bermuda-based Partner Reinsurance Co. Ltd. and its affiliates (collectively referred to as PartnerRe). A.M. Best has also affirmed the …

POSTED MAY 26, 2017 11:47 AM
AGCS Promotes Hansen as Head of Aviation, Succeeding Haagen
Allianz Global Corporate & Specialty (AGCS) announced that Mike Hansen has been named global head of Aviation. He takes over this responsibility from Henning Haagen who was appointed Northeast Zone Executive for North America earlier this year and has been …

POSTED MAY 26, 2017 11:21 AM
QBE Taps Commonwealth Bank of Australia’s Ford as Group CFO
QBE Insurance Group Ltd. has appointed Michael Ford as group chief financial officer. Ford is currently the deputy CFO for the Commonwealth Bank of Australia (CBA). He joined the bank in 2005 and held a number of senior finance roles …

POSTED MAY 26, 2017 9:21 AM
AmWins and Networked Deal Plays to Each Firm’s Strengths, Execs Say
The acquisition by AmWINS Group Inc. late last month of Networked Insurance Agents will achieve a number of objectives for both the Charlotte, N.C.-based distributor of specialty insurance products and the California-based aggregator. Namely, the deal plays to each firm’s …

POSTED MAY 26, 2017 9:00 AM
Here’s What the House Has in Mind for Revamping Flood Insurance Program
A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce reforms to put the NFIP on stronger financial footing; provide aid …

POSTED MAY 26, 2017 5:00 AM
Report: Florida Resident Sparked Wildfire With Lawn Mower
A lawn mower is being blamed for sparking a wildfire that destroyed five structures in Florida. The Naples Daily News reports that the state’s Office of Agricultural Law Enforcement concluded its investigation into the fire that started April 20 in …

POSTED MAY 26, 2017 4:50 AM
Zenefits to Pay North Carolina $104K to Settle Licensing Violations
The North Carolina Department of Insurance has reached a settlement agreement with YourPeople, Inc., dba Zenefits FTW Insurance Services (Zenefits) resulting in a $104,500 penalty, according to a statement from Insurance Commissioner Mike Causey. Department of Insurance Agent Services Division …

POSTED MAY 26, 2017 4:43 AM
West Virginia Gov Orders State to Step-Up Cybersecurity Efforts
Gov. Jim Justice has directed the West Virginia Board of Risk and Insurance Management to take steps to protect personally identifiable information collected and kept by state agencies, including health information required by law to be kept private. In an …

POSTED MAY 26, 2017 4:28 AM
1 Dead After Florida Driver Crashes Into Gas Pump, Causing Fire
A fire at a gas station ignited by a car slamming into a pump has killed one person in Florida. Local news organizations report the fire erupted at a BP station in Dania Beach on Tuesday night after a driver …

POSTED MAY 26, 2017 4:00 AM

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