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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

California Safety Board Oks Regulation to Protect Workers from Wildfire Smoke

Fri, 07/19/2019 - 17:06
The California Occupational Safety and Health Standards Board has adopted an emergency regulation designed to protect workers from hazards associated with wildfire smoke. The regulation is expected to go into effect in early August and be effective for one year. …

Berkshire Hathaway GUARD Expands Commercial Auto into Delaware, Kentucky, D.C.

Fri, 07/19/2019 - 17:00
Berkshire Hathaway GUARD Insurance Companies have expanded its commercial automobile product into Delaware, Kentucky, and the District of Columbia. The company’s policy is designed for local and intermediate travel exposures up to a 200-mile radius. The commercial auto product is …

Going to Monte Carlo for the Rendezvous? What’s It Like?

Fri, 07/19/2019 - 16:46
Have you been to the Reinsurance Rendezvous in Monte Carlo? What would you tell someone thinking of going for the first time about the experience? Carrier Management is looking to compile stories and advice from professionals who have been to …

Illinois Medical Instrument Sterilization Plant to Reopen with Emission Control Equipment

Fri, 07/19/2019 - 16:45
The operator of a closed suburban Chicago plant where medical instruments were sterilized with a cancer-causing chemical has reached an agreement with the state of Illinois that will allow the plant to reopen, both sides announced on July 12. Attorney …

CoreLogic Estimates Barry Flood, Wind Losses at $500M to $900M

Fri, 07/19/2019 - 16:20
The total cost of losses from damage caused by Hurricane Barry will likely fall between $500 million and $900 million, Irvine, California-based property information and data analytics provider CoreLogic says. CoreLogic estimates Barry-related flood loss for residential and commercial properties …

Judge Permits Short-Term Health Plans in Blow to Obamacare Supporters

Fri, 07/19/2019 - 16:13
The Trump administration can expand the sale of short-term health insurance policies that don’t meet the standards of the Affordable Care Act, a federal judge ruled, advancing the government’s efforts to undo Obamacare. U.S. District Judge Richard Leon in Washington …

PTSD Coverage for First Responders Left Out of Ohio Workers’ Comp Budget

Fri, 07/19/2019 - 15:55
Lawmakers have approved a two-year budget for Ohio’s insurance fund for injured workers after missing the initial deadline at the end of June and covering the gap with a temporary budget. The nearly $645 million funding measure for the Bureau …

Berkshire Hathaway’s Applied Underwriters Settles Workers’ Comp Dispute with New York

Fri, 07/19/2019 - 15:49
Berkshire Hathaway subsidiary Applied Underwriters will voluntarily halt the selling of a reinsurance-based, loss-sensitive workers’ compensation product in New York under an agreement with the state regulator who first raised questions about the product three years ago. Applied Underwriters will …

Arizona Suit Names Former Opioid Manufacturer Executives

Fri, 07/19/2019 - 14:39
Arizona’s top attorney is accusing former opioid manufacturer executives of trying to sell a prescription drug through unethical means. Attorney General Mark Brnovich announced that his office filed a consumer fraud lawsuit Wednesday against Chandler-based Insys Therapeutics Inc. The state …

Nevada Wants Feds to Restudy Seismic Risk at Nuke Dump Site

Fri, 07/19/2019 - 14:35
Nevada’s governor and congressional delegation are pointing to earthquakes this month in the California desert and calling for the U.S. Energy Department look again at seismic risks of burying the nation’s most radioactive nuclear waste at a site in the …

Report: California Private Self-Insured Employers Comp Claim Frequency Rose Last Year

Fri, 07/19/2019 - 14:30
Workers’ compensation claim frequency reported by private self-insured employers in California rose last year, as the incidence of both indemnity and medical-only claims rose from the 2017 levels, the California Workers’ Compensation Institute reported. This is the second consecutive year …

Investigation Uncovers Widespread Fraud in the New York City Towing Industry

Fri, 07/19/2019 - 14:20
The NYC Department of Consumer and Worker Protection (DCWP) Commissioner Lorelei Salas has announced an in-depth investigation into the tow truck industry that suggests widespread insurance and workers’ compensation fraud. DCWP is in the process of notifying approximately 130 tow …

Hartford InsurTech Hub Opens Applications for Accelerator Program’s Third Year

Fri, 07/19/2019 - 14:11
Hartford InsurTech Hub, powered by Startupbootcamp, has opened applications for the third year of its accelerator program. Insurance Technology (InsurTech) startups that have shown strong traction and are looking to connect with several of the biggest insurance companies in the …

Nuclear Industry Looks to Save Money Under Reduced U.S. Safety Oversight

Fri, 07/19/2019 - 13:40
Fewer mock commando raids to test nuclear power plants’ defenses against terrorist attacks. Fewer, smaller government inspections for plant safety issues. Less notice to the public and to state governors when problems arise. They’re part of the money-saving rollbacks sought …

New Hampshire Committee to Consider Tough Water Standards for Chemicals

Fri, 07/19/2019 - 13:38
A New Hampshire legislative committee will consider a proposal to create some of the nation’s toughest drinking water standards for a class of toxic chemicals that have caused widespread contamination in the state. On Thursday, the New Hampshire Joint Legislative …

Scholarship Organization Forms in Maine to Assist Children of Injured Workers

Fri, 07/19/2019 - 13:25
Representatives of employers, organized labor, insurance companies, plaintiff’s attorneys, medical providers and defense attorneys have formed Kids’ Chance of Maine to provide scholarships to the children of workers who have been seriously injured or killed on the job. The Maine …

Expert Outlines 5 School Insurance Liability Issues to Watch

Fri, 07/19/2019 - 13:24
Lilian A. Vanvieldt, senior vice president, educational entities practice leader for the national insurance agency Alliant, has spent more than three decades insuring schools across the country. Her book of business spans from the small school district in Maine that …

Regulatory Issues Causing Ping An-Backed Lufax to Exit P2P Lending: Reuters

Fri, 07/19/2019 - 12:32
Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance, plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters. The move by …

Concern Over Pig Virus Prompts Philippines to Ban German Pork

Fri, 07/19/2019 - 12:24
The Philippines restricted pork imports from Germany, citing concerns about food safety in one of the world’s major shippers, as Asian countries battle to stop a deadly pig virus spreading. From July 2, the Philippines temporarily banned pork from German …

Germany’s Merkel Says UK Should Be Given More Time for Brexit If Needed

Fri, 07/19/2019 - 12:09
German Chancellor Angela Merkel said the U.K. should be given more time to leave the European Union if it needs it, as she pointed to a way out of the Brexit impasse that falls far short of what the U.K.’s …

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