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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 16 hours ago

USI Insurance Services Acquires Orgill Singer & Associates in Nevada

Mon, 02/10/2020 - 18:21
USI Insurance Services has acquired Las Vegas, Nev.-based Orgill Singer & Associates Inc. Terms of the deal were not disclosed. All of the agency’s team members in Las Vegas and Reno, including David Dahan, chief executive officer, Eric Springall, president, …

Arkansas Health System Sued for Age Discrimination

Mon, 02/10/2020 - 17:54
White River Health System Inc., a provider of health care services throughout North Central Arkansas, has been sued by the U.S. Equal Employment Opportunity Commission (EEOC) for age discrimination. In a lawsuit filed on Feb. 7, the EEOC said the …

Tennessee Teen Awarded $15M Over Brain Injury Suffered at Fort Campbell Hospital

Mon, 02/10/2020 - 17:53
A federal judge in Tennessee has awarded a $15 million judgment to a 15-year-old boy who suffered a brain injury at a hospital on the Fort Campbell Army post. The parents of the boy filed a medical malpractice lawsuit in …

Company Tied to Deadly Houston Warehouse Explosion Files for Bankruptcy

Mon, 02/10/2020 - 17:51
A company filed for bankruptcy on Feb. 6 in the wake of a massive explosion at one of its warehouses in Houston that killed two workers, injured 20 more and damaged hundreds of buildings. Watson Grinding and Manufacturing said it …

Iowa Senate Passes Bill with $20M for Flood Projects

Mon, 02/10/2020 - 17:47
The Iowa Senate has passed a bill that provides $20 million for flood relief requested by Gov. Kim Reynolds to help shore up levees in southwest Iowa in anticipation of flooding along the Missouri River this spring. All 48 senators …

Wisconsin Governor Signs Bill Creating New Restrictions on Firefighting Foam

Mon, 02/10/2020 - 17:46
Wisconsin Gov. Tony Evers has signed a bill that imposes new restrictions on firefighting foam to curb pollution from PFAS chemicals. The bill prohibits the use of foam containing intentionally added PFAS except in emergency fire situations. Firefighters will have …

Issuer Credit Ratings of Michigan’s Atain Insurance Companies Downgraded

Mon, 02/10/2020 - 17:46
AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a+” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Farmington Hills, Mich.-based Atain Specialty Insurance Co. and Atain Insurance Co., collectively referred to …

Report: 6 Texas Refineries Releasing Cancer-Causing Pollutant Above Federal Threshold

Mon, 02/10/2020 - 17:44
An environmental nonprofit has released an analysis of first-of-its-kind air monitoring data that shows benzene levels at 10 U.S. petroleum refineries exceeded limits Eight years ago, two environmental nonprofits sued the U.S. Environmental Protection Agency. The agency was a decade …

Iowa’s LMC Insurance & Risk Management Teams Up with AssuredPartners

Mon, 02/10/2020 - 17:36
LMC Insurance & Risk Management, headquartered in West De Moines, Iowa, has joined Florida-based AssuredPartners Inc.’s national broker team. LMC’s operations consist of 290 dedicated employees who will remain under the operational leadership of LMC President and CEO Greg LaMair. …

Severe Storm Sweeps Through Southeast, Causes 5 Deaths

Mon, 02/10/2020 - 17:31
More than 260,000 homes and businesses in the southeastern United States were without power early Friday after a powerful storm raked the region. At least five people were killed. North Carolina had the most customers without electricity on Friday, followed …

Tokio Marine Kiln Adds Pritchard to Special Risks Team

Mon, 02/10/2020 - 15:41
Specialist insurer Tokio Marine Kiln has appointed Charlotte Pritchard as an underwriter within its Special Risks team. Pritchard will focus on all aspects of special risks, including political violence and accelerating the growth of TMK’s terrorism book. She will report …

Kobe Bryant Helicopter Had Nearly Cleared Blinding Clouds in California Crash

Mon, 02/10/2020 - 15:39
The pilot of the helicopter that crashed and killed Kobe Bryant and eight others was almost out of blinding clouds when he suddenly plunged and crashed into a Southern California hillside, investigators and aviation experts indicated. Ara Zobayan had told …

Minor Earthquake Confirmed in California High Desert

Mon, 02/10/2020 - 15:34
A minor earthquake struck the Southern California high desert on Saturday and was was felt across the region, the U.S. Geological Survey confirmed. The USGS reports the 3.9-magnitude earthquake hit an area about 13 miles northeast of Barstow at 11:34 …

Tsunami Sirens in Southern California Beach City Were False Alarm

Mon, 02/10/2020 - 15:33
Tsunami warning sirens wailing early Friday morning in the Southern California city of Huntington Beach were a false alarm, authorities confirmed. “There is no current threat to our community and we are working to determine exactly how/why the sirens were …

NASA Says Software Errors May Have Doomed Boeing Starliner Flight Test

Mon, 02/10/2020 - 15:15
Defective software could have doomed Boeing’s crew capsule during its first test flight, a botched trip that was cut short and never made it to the International Space Station, NASA and company officials said Friday. The Starliner capsule launched without …

How Data-Dependent Federal Reserve Is Growing to Like Private Company Big Data

Mon, 02/10/2020 - 14:59
About a year ago, Federal Reserve officials were nervous. Markets were cratering. Fear about a trade war was rising. The officials needed to know if the turmoil was chilling consumer spending. Problem was, a partial shutdown of the government had …

House Panel to Hold Hearing to Advance Rules on Self-Driving Vehicles

Mon, 02/10/2020 - 14:40
A U.S. House panel will hold a hearing Tuesday on autonomous vehicles as lawmakers try to hammer out legislation to advance self-driving cars. An Energy and Commerce subcommittee overseeing automotive issues will hear from officials of trade groups representing automakers …

Thai Insurer Offers First Coronavirus Insurance Policy

Mon, 02/10/2020 - 14:12
The world’s best-performing insurance firm has seized on the latest health concern to offer Thailand’s first policy to cover the novel coronavirus. TQM Corp., with partner Bangkok Insurance Pcl, this week introduced a policy that costs 299 baht ($9.62) and …

Tokio Marine Completes Acquisition of High Net Worth Insurance Specialist Pure Group

Mon, 02/10/2020 - 14:04
Tokio Marine Holdings announced that it has completed the acquisition of Privilege Underwriters Inc. and its subsidiaries, known as Pure Group, which specializes in the U.S. high net worth insurance market. The deal was announced last October. The acquisition price …

Australian Insurers Declare Catastrophe for Losses from East Coast Flooding

Mon, 02/10/2020 - 13:30
The Insurance Council of Australia (ICA) has declared a catastrophe for property losses caused by storms and flooding along the east coast since February 5. Insurers said they have received 10,000 claims with the value of claims estimated at $45 …

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