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Insurance Journal

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Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 1 day 19 hours ago

Judge Orders Opioid Distributor to Turn Over Corporate Records to Shareholders

Wed, 01/15/2020 - 17:19
A Delaware judge has ordered one of the world’s largest distributors of opioid painkillers to turn over corporate records to shareholders investigating whether the company engaged in wrongdoing. The judge ruled Monday that shareholders of AmerisourceBergen have demonstrated that they …

Expanding into Iowa, Keystone Insurers Group Signs Kingsgate Insurance

Wed, 01/15/2020 - 16:53
Keystone Insurers Group (Keystone) has expanded into Iowa with the addition of pioneer partner Kingsgate Insurance of Fort Dodge to the agency partnership organization. Kingsgate Insurance was founded in 1990 in Fort Dodge, Iowa, by Ed Smith. Known then as …

Lawsuit Filed After Six People Found Dead in Las Vegas Fire

Wed, 01/15/2020 - 16:31
The sister-in-law of one of six residents found dead after a Las Vegas apartment building fire filed a wrongful death lawsuit Wednesday against the property owner, who officials say had been been cited in the past over missing smoke alarms …

Dead Crew Member’s Family Suing California Dive Boat Operator

Wed, 01/15/2020 - 16:29
The family of the lone crew member to die in a fiery scuba boat disaster that killed all 33 passengers off the California coast last year sued the vessel’s owner Monday in federal court. The lawsuit by the family of …

Southern California Uber Driver Accused of Raping Passenger

Wed, 01/15/2020 - 16:25
An Uber driver was arrested on suspicion of raping a woman who said she fell asleep in his car after a night of drinking and woke up to him assaulting her, authorities said. The suspect, Alonso Calle, had contacted police …

Philadelphia Insurance Names Doyle Co-Chief Underwriting Officer; Adds 3 Senior VPs

Wed, 01/15/2020 - 16:00
Philadelphia Insurance Companies has appointed John Doyle as a co-chief underwriting officer and promoted three vice presidents to senior vice president roles. Doyle is now shares the underwriting officer responsibilities along with President John Glomb. In this new role, Doyle …

Using Game Theory to Determine Who’s Liable: Autonomous Vehicle or Human Driver?

Wed, 01/15/2020 - 15:32
A recent decision by the National Transpiration Safety Board (NTSB) on the March 2018 Uber crash that killed a pedestrian in Arizona split the blame among Uber, the company’s autonomous vehicle (AV), the safety driver in the vehicle, the victim, …

Critics Say Puerto Rico Needs a Proactive Emergency Plan

Wed, 01/15/2020 - 14:33
More than two years ago, Hurricane Maria revealed that Puerto Rico was utterly unprepared for a powerful hurricane despite its location in one of the world’s most storm-vulnerable regions. Now, a flurry of earthquakes topped by a magnitude 6.4 temblor …

One80 Intermediaries Acquires Pennsylvania’s Vista Underwriting Partners

Wed, 01/15/2020 - 14:22
One80 Intermediaries, a national wholesale insurance broker and program manager headquartered in Boston, Mass., has acquired Vista Underwriting Partners, a full service managing general underwriter of medical stop loss insurance. Terms of the deal were not disclosed. Headquartered in Media, …

Santarelli to Head Maryland’s Newly Formed Wye River Insurance Brokerage

Wed, 01/15/2020 - 14:20
Wye River Insurance, based in Baltimore, Md., has announced leadership appointments for the newly-formed insurance brokerage serving real estate and construction professionals in the multifamily industry. Long-time insurance expert Katherine Santarelli will lead day-to-day operations and provide strategic brokering and …

Christmas Ransomware Attack Hit New York Airport Servers

Wed, 01/15/2020 - 14:15
An upstate New York airport and its computer management provider were attacked by ransomware over Christmas, officials said. Officials at the Albany County Airport Authority announced Thursday that the attack came to light after Schenectady-based LogicalNet reported its own management …

Severe Storms Expected to Bring Relief, New Risks to Bushfire-Stricken Australia

Wed, 01/15/2020 - 14:12
Severe storms are expected to bring some relief in the coming days from huge bushfires scorching Australia but the heavy downpours could also carry the risk of landslides and water pollution, officials said on Wednesday. Australia is battling its worst …

Ben & Jerry’s Says No Depositions Possible in Claims Against ‘Happy Cows’

Wed, 01/15/2020 - 14:07
Ben & Jerry’s said it does not deceive consumers by saying it used milk and cream from “happy cows” to make its ice cream, and that an environmental advocate’s lawsuit claiming otherwise should be dismissed. In a Monday filing seeking …

N.Y. Limo Drivers Face New Safety Rules After Deadly 2018 Crash

Wed, 01/15/2020 - 14:04
New York Governor Andrew Cuomo and leaders of the state legislature have agreed on a package of limousine-safety laws that would create a new driver’s license for operators, require seat belts, ban defective vehicles from the road and increase penalties …

Captive Insurance Agents Turning Independent: How to Choose New Software

Wed, 01/15/2020 - 13:40
There’s a storm brewing for many captive insurance agencies and their agents, and that storm may be lengthy. As an example, Nationwide is one of a number of captive insurance companies actively converting their captive agents to the independent model. …

U.K. Broker Tysers Invests in Bermuda-Based MGA, Helix Underwriting Partners

Wed, 01/15/2020 - 13:32
Tysers, the London-based broker, announced it has taken a minority investment in Bermuda’s newly formed and first independent managing general agent Helix Underwriting Partners Ltd. “As we enter the 200th year of Tysers’ existence, we are delighted to be partnering …

HCI to Acquire Policies of Florida’s Anchor P&C; Weston to Acquire Anchor Specialty

Wed, 01/15/2020 - 13:17
Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary …

Ed Broking Appoints Kelley from Sompo Int’l as Head of Bermuda Liability Division

Wed, 01/15/2020 - 12:57
Ed, the global reinsurance, wholesale and specialty broker, announces the appointment of Colin Kelley as head of Ed’s new Liability Division in Bermuda. Effective immediately, Kelley will lead the professional lines, casualty and healthcare teams. Kelley brings more than 16 …

Spike in Piracy in Singapore Strait Prompts Calls for Improved Security

Wed, 01/15/2020 - 12:23
Coastal nations around the Singapore Strait must step up surveillance and patrols of the strategic waterway after a sharp rise in piracy incidents last year, maritime watchdog ReCAAP said on Wednesday. The number of piracy and armed robbery incidents in …

World Economic Forum Sounds Alarms About Climate Change Risks

Wed, 01/15/2020 - 12:04
The World Economic Forum is sounding alarm bells on climate change, with environmental risks occupying the group’s top five long-term concerns for the first time on record. Extreme weather events, the failure of climate-change mitigation, major natural disasters, biodiversity loss …

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