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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 15 hours ago

Arkansas’ Benton County to Appeal FEMA Denial of Aid for Tornado Damages

Thu, 02/06/2020 - 06:19
Benton County plans to appeal the Federal Emergency Management Agency’s decision to not help pay for the costs to clean up damages from two tornadoes that struck in October, officials said. The county was notified of the decision by letter …

North Dakota Official: Work Injury Claims Could Rise with Recreational Pot

Thu, 02/06/2020 - 06:15
North Dakota could see a rise in workers’ compensation claims if marijuana is legalized, the state’s workplace safety agency told lawmakers on Feb. 4. Jodi Bjornson, a lawyer for North Dakota Workforce Safety and Insurance, said someone under the influence …

RT Specialty Promotes May to President, National Personal Lines Practice in Houston

Thu, 02/06/2020 - 06:08
R-T Specialty LLC has promoted Claudia May, based in Houston, to co-president of the company’s national personal lines practice. May has concentrated on personal lines since the start of her career over 25 years ago. She comes to RT via …

Burns & Wilcox, Pro Golfers Simpson and Walker Donate $50K to 2 Charities

Thu, 02/06/2020 - 06:02
Insurance wholesale broker and underwriting manager Burns & Wilcox has partnered with its PGA golf brand ambassadors, pro golfers Webb Simpson and Jimmy Walker, to donate $50,000 to two charities. The donations are a result of Champions & Charities, one …

Hospital’s Ransomware Attack Exposes New Risk for Muni-Bond Issuers

Thu, 02/06/2020 - 06:00
Hackers have finally done what bond issuers may have feared most from cyber criminals. A ransomware attack on Pleasant Valley Hospital in West Virginia was partly responsible for the hospital’s breach of its covenant agreement, according to a notice to …

LP Insurance Services Adds Kitowski in California

Thu, 02/06/2020 - 06:00
LP Insurance Services LLC has named Peter Kitowski to the Sacramento, Calif.-area team. Kitowski has more than 30 years of insurance industry experience. Kitowski began his insurance career in 1987 with Aetna as an underwriter then later became a commercial …

Researchers Create Extreme Weather Early Warning System from ‘Obsolete’ Tool

Thu, 02/06/2020 - 06:00
Rice University engineers have created a deep learning computer system that taught itself to accurately predict extreme weather events, like heat waves, up to five days in advance using minimal information about current weather conditions. Ironically, Rice’s self-learning “capsule neural …

A Tale of Two Californias: Managing Wildfire Risk in the Year 2030

Thu, 02/06/2020 - 06:00
For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for them in the same …

Phantom Auto Theft Claim Results in Charges Against Washington Man

Thu, 02/06/2020 - 06:00
Dale Maki, of Usk, Wash., was charged in Pend Oreille Superior Court with one count of false claims or proof in connection with a phantom auto theft claim. Maki was charged after an investigation by Insurance Commissioner Mike Kreidler’s Criminal …

Axa in Talks to Sell Eastern, Central European Business to Austria’s Uniqua

Thu, 02/06/2020 - 01:07
Axa SA is in advanced talks to sell its central and eastern European operations to Austria’s Uniqa Insurance Group AG, people familiar with the matter said. The insurers aim to reach an agreement in the coming weeks for the businesses …

Crews Removing Overturned Cargo Ship in Georgia Port Rush to Beat Hurricane Season

Tue, 02/04/2020 - 17:58
The salvage team in charge of removing a cargo ship that overturned on the Georgia coast nearly five months ago wants to surround it with a giant mesh screen to contain any loose debris as the vessel gets cut into …

The Liberty Company Insurance Brokers of Florida Add Bobyack as Partner

Tue, 02/04/2020 - 17:53
The Liberty Company Insurance Brokers has added Rob Bobyack to the firm as a partner at its Moody Insurance Group office. Bobyack began his career in the insurance industry in 1997 as a workers’ compensation specialist and since then has …

Kansas Offering Public Access to Earthquake Investigation Information

Tue, 02/04/2020 - 17:21
The Kansas Corporation Commission has approved opening general investigation dockets to allow the public access to information gathered during investigations into seismic activity in Reno and Rooks counties. The dockets will share all data and research gathered in the investigations …

Driver Dies, Passengers Injured in Ohio Church Bus Crash

Tue, 02/04/2020 - 17:19
A church bus and an SUV crashed on Feb. 2 in Ohio, and the bus driver died, the State Highway Patrol said. The patrol’s Lebanon post reported the crash occurred around 9:30 a.m. on Dixie Highway in Warren County’s Franklin …

Berkley CEO Warns Against Overreaction to Workers’ Comp Rate Declines

Tue, 02/04/2020 - 17:18
While the market is hardening and rates are increasing for nearly every commercial insurance line, workers’ compensation remains stubbornly soft. That reality is something that W.R. Berkley’s CEO flagged recently as a cause for concern. “The reality is that workers’ …

Family of Man Who Died of Flu in Oregon Prison Sues for $15M

Tue, 02/04/2020 - 15:40
A $15 million lawsuit filed by the family of a man who died at the Oregon State Penitentiary accuses prison staff of failing to treat the 54-year-old inmate for flu and then covering up his flu-related death. The Statesman Journal …

Risk Strategies Acquires Transport Risk Management in Colorado

Tue, 02/04/2020 - 15:38
Risk Strategies has acquired Transport Risk Management Inc. in Denver, Colo. Terms of the deal were not disclosed. Risk Strategies is a privately held, national insurance broker with offices across the country. Transport Risk is a national specialist in aviation-related …

AXA Liabilities Managers to Acquire RenaissanceRe (UK) Limited in Runoff

Tue, 02/04/2020 - 15:17
AXA Liabilities Managers has agreed to acquire RenaissanceRe (UK) Limited, a company currently in runoff, from RenaissanceRe Holdings Ltd. Formerly known as Tokio Millennium Re (UK) Limited, the UK run-off business was acquired by RenaissanceRe as part of its purchase …

Aon Acquires Canadian Cyber Security Firm Cytelligence

Tue, 02/04/2020 - 14:57
Insurance broker Aon reported it has acquired Cytelligence Inc., a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, security consulting services and cyber security training for employees. Aon said the acquisition will help it expand its …

Is the Pendulum Swinging Toward Defendants on New York Labor Law Claims?

Tue, 02/04/2020 - 14:45
Generally speaking, Labor Law Section 240(1) (“240”) imposes strict liability on owners and general contractors for certain height/gravity-related accidents that occur at construction projects. Establishing a height/gravity-related risk should not be enough for a plaintiff to prevail. Under the statute, …

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