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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

Explosion at Dippin’ Dots Production Facility in Kentucky Injures Four

Tue, 11/26/2019 - 12:54
Authorities say an explosion at the Dippin’ Dots production facility in Kentucky has injured four people. Dippin’ Dots CEO Scott Fischer says the explosion occurred in a production area around 10 p.m. Friday evening. Fischer said in a release that …

Florida Investigating Attorney Charged with Lawsuit Fraud

Tue, 11/26/2019 - 12:51
The Florida Bar has opened an investigation of a New York lawyer who it says may have been practicing in Florida without a license. The Bar’s investigation of Stuart Finkelstein stems from federal charges this week alleging that he filed …

Massachusetts Attorney General Issues Asbestos Safety, Enforcement Report

Tue, 11/26/2019 - 12:48
Massachusetts Attorney General Maura Healey has released a report highlighting her office’s ongoing efforts to protect children, families and workers from the health risks posed by exposure to asbestos. The report highlights the work of AG Healey’s “Healthy Buildings, Healthy …

BHSI Taps Warrior, Formerly with Hiscox, as Head of D&O Underwriting, UK & Ireland

Tue, 11/26/2019 - 12:46
Berkshire Hathaway Specialty Insurance (BHSI) announced that it has expanded its European team with the addition of Chris Warrior as head of directors’ & officers’ liability underwriting for UK & Ireland. Warrior comes to BHSI with 36 years of experience …

Massachusetts Police Warn of “Power” Heroin After Nine Overdoses in 16 Hours

Tue, 11/26/2019 - 12:36
Police in one Massachusetts community have issued a warning about a particular kind of heroin after responding to nine overdoses in 16 hours. Holyoke, Mass., police said Saturday that they believe each of the people who overdosed on Friday had …

Vermont Seeks Storm Damage Assessment of Private Property

Tue, 11/26/2019 - 12:29
Vermont is asking the Federal Emergency Management Agency to assess damage to private property from a storm beginning on Halloween to determine if the state qualifies for federal aid for homeowners and renters. The state says 323 Vermont homeowners and …

Thieves Steal Priceless Items from Dresden’s Treasury Green Vault; Hiscox Comments

Tue, 11/26/2019 - 11:50
Thieves have carried out a heist at Dresden’s Green Vault, one of the world’s oldest museum containing priceless treasures and jewels, German officials said Monday. The treasury of Augustus the Strong of Saxony was established in 1723 and today contains …

AIG to Sell Most of Fortitude Re to Carlyle, T&D Holdings for $1.8 Billion

Tue, 11/26/2019 - 11:07
American International Group plans to sell the bulk of Fortitude Re to private equity firm The Carlyle Group and Japanese insurer T&D Holdings for $1.8 billion. Plans call for a newly created Carlyle-managed fund and T&D Holdings to acquire from …

Missouri Contractor Faces $210K in Penalties for Workplace Safety Hazards

Tue, 11/26/2019 - 06:58
Federal workplace safety officials have proposed $210,037 in penalties against a Missouri contractor protect employees from trench collapse and electrical hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) inspectors observed workers exposed to trenching and excavation …

Texas McDonald’s Franchisee Settles Sex Harassment Lawsuit for $340K

Tue, 11/26/2019 - 06:51
A McDonald’s franchise owner with locations in Texas pay $340,000 and furnish other relief to settle a federal sexual harassment lawsuit. The U.S. Equal Employment Opportunity Commission (EEOC) alleged in its lawsuit against Credle Enterprises LLC, which does business as …

Spicer Joins Jewelers Mutual Leadership Team in Wisconsin

Tue, 11/26/2019 - 06:32
Neenah, Wisconsin-based insurer, Jewelers Mutual Group, has added Larry Spicer as vice president of Loss Prevention and Risk Management Services as David Sexton prepares for retirement after 39 years with Jewelers Mutual. Sexton steps down at the end of the …

Texas Agency RHSB Adds Ausmus as Account Manager, Personal Client Services

Tue, 11/26/2019 - 06:22
Dallas-based independent insurance brokerage firm RHSB (Roach Howard Smith & Barton) has hired Cindy Ausmus as account manager in its Personal Client Services department. Ausmus replaced long time employee Liz O’Neall who retired in September. Ausmus has over 30 years’ …

E-Cigarette Maker Juul Pulled Into Tobacco Product Liability Case

Tue, 11/26/2019 - 06:00
A Florida state court judge ordered the co-founder of the e-cigarette maker Juul Labs Inc. to answer questions under oath in a case involving a woman suing the cigarette-maker Philip Morris USA. While Juul has challenged the judge’s order, it’s …

FEMA Envisions High-Tech Flood Insurance Program Using Parametrics, Blockchain

Tue, 11/26/2019 - 06:00
Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the …

Can Ethics Be Taught? Study Assesses Ethics Training on Financial Sector Behavior

Tue, 11/26/2019 - 06:00
Can ethics be taught? New research suggests yes, while offering the first large-sample study on how rules and ethics training affects behavior and employment decisions in the financial sector. “Can Ethics be Taught? Evidence from Securities Exams and Investment Adviser …

Why E&S Carriers Aren’t Winners Over the Long Term

Mon, 11/25/2019 - 23:00
]ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons in an interview with Wells Media’s Andrew Simpson. Q: You talked about the winners …

Confessions of a Diehard Insurance Data Fan: Part 2

Mon, 11/25/2019 - 23:00
After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk about winning carrier strategies. Pieroni, who discussed carrier growth and profit …

AssuredPartners Acquires Surety Solutions Insurance Services in California

Mon, 11/25/2019 - 22:06
AssuredPartners Inc. has acquired Surety Solutions Insurance Services Inc. of Rancho Cordova, Calif. The team of 15 will remain under the leadership of John Page and Ryan Tash. Surety Solutions is licensed in all 50 states. The agency currently reports …

Washington Insurance Commissioner Fines UnitedHealthcare $30,000

Mon, 11/25/2019 - 22:00
Washington Insurance Commissioner Mike Kreidler took disciplinary action in October against insurance companies, agents and brokers who violated state insurance regulations. A summary of cases of interest to Washington consumers is below. Insurance companies UnitedHealthcare of Washington, Seattle; fined $30,000 …

Washington Workers’ Comp Rates Dropping Third Straight Year

Mon, 11/25/2019 - 21:53
The price of workers’ compensation insurance is dropping in Washington for the third consecutive year. The Washington Department of Labor & Industries on Monday announced a 0.8% decrease in the average amount employers will pay for the coverage in 2020. …

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