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Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 1 day 20 hours ago

Car Sharing Lobbyists Battle Car Renting Lobbyists, Driving State Lawmakers Crazy

Fri, 04/19/2019 - 05:00
The bill that turned Illinois into the focal point of a bitter debate over car-sharing last year started as a proposal about what happens when a rental car is stolen. The legislation, which would allow rental companies to punish customers …

Official ESG Evaluations from S&P Coming to Insurance Sector in Near Future

Thu, 04/18/2019 - 22:48
If you’re among those who regard “Environmental, social and governance” as just another in a long line of trendy buzz-phrases, then you may have to rethink your thinking. ESG standards, which companies use to highlight operations that interest socially conscious …

Island Insurance in Hawaii Names Tanoue Vice President, General Counsel

Thu, 04/18/2019 - 18:05
Island Insurance Company Ltd. in Hawaii has named Michael Tanoue vice president and general counsel. In this Tanoue is responsible for strategic initiatives, policy management, legal strategy, compliance and regulatory filings. He has nearly 35 years of legal experience, most …

Oklahoma Prescription Drug ‘Step Therapy’ Bill Signed Into Law

Thu, 04/18/2019 - 16:19
A bill intended to protect patients from a harmful insurance practice known as ‘step therapy’ has been signed into law by Governor Kevin Stitt. Senate Bill 509, authored by Rep. Cyndi Munson (D-OKC) and Sen. Dave Rader (R-Tulsa), requires any …

Oklahoma Bill Increasing Highway Speed Limits Signed by Governor

Thu, 04/18/2019 - 16:18
Gov. Kevin Stitt today signed a bill into law that will increase the speed limit on Oklahoma turnpikes from 75 to 80 miles per hour and on certain state highways from 70 to 75 miles per hour. Rep. Daniel Pae, …

U.S. Senate Hearing Focuses on Missouri River Flood Prevention

Thu, 04/18/2019 - 16:16
The federal agency that manages dams along the Missouri River received stern criticism from several U.S. senators Wednesday during a hearing held in Iowa to examine the massive spring flooding this year that caused more than $3 billion in damage …

Waco Surf Park Hit with Suit Over Man’s Death From ‘Brain-Eating Amoeba’

Thu, 04/18/2019 - 16:13
The mother of a New Jersey man who died of a rare “brain-eating amoeba” after visiting a Texas surf resort has filed a wrongful death lawsuit against the water park. Health officials say testing found evidence of the rare but …

ASSP Names Ballman Director of Professional Development

Thu, 04/18/2019 - 16:11
The American Society of Safety Professionals (ASSP), based in Park Ridge, Illinois, has named Chris Ballman director of professional development. Ballman will oversee the Society’s comprehensive educational offerings that advance the careers of occupational safety and health professionals worldwide. He …

Stolen High-End Cars Recovered in Chicago Car-Sharing Fraud

Thu, 04/18/2019 - 16:08
Daimler AG and BMW AG’s joint car-sharing and mobility business has suspended service in Chicago after a fraud incident. Some vehicles may have been rented using deceptive means through Share Now’s mobile app, according to the Chicago Police Department. Multiple …

LA Archdiocese to Pay $8M Payment in Sex Abuse Case

Thu, 04/18/2019 - 14:15
The Archdiocese of Los Angeles has agreed to pay $8 million to a teenager who was sexually abused by the athletic director at her Catholic high school who had continued to work despite prior allegations of misconduct, it was announced …

AIG Settles Another Claim Against Cosby, Who Again Blasts Insurer

Thu, 04/18/2019 - 13:14
Bill Cosby’s insurance company has settled another lawsuit filed by a female accuser a week before the imprisoned comedian was set to give a deposition in the case, prompting Cosby to call the insurer “complicit” in a scheme to destroy …

FAA Board Says Boeing 737 Max Software Fix Won’t Require Added Training

Thu, 04/18/2019 - 13:03
A board of pilot experts appointed by U.S. aviation regulators has reviewed Boeing Co.’s proposed software fix for the grounded 737 Max aircraft and concluded that pilots won’t need additional simulator training once the plane is returned to service. The …

Investors Sue Lyft, Alleging IPO ‘Overhyped’

Thu, 04/18/2019 - 12:31
Lyft Inc. was sued by investors who claim the ride-sharing company overstated its market position when it went public last month, leading to a dramatic plunge in its stock price. Two separate class-action complaints against Lyft, as well as its …

Tsunami-Wrecked Fukushima Nuclear Plant Begins Fuel Removal in Melted Reactor

Thu, 04/18/2019 - 12:25
The operator of the tsunami-wrecked Fukushima nuclear plant began removing fuel Monday [April 15] from a cooling pool at one of three reactors that melted down in the 2011 disaster, a milestone in what will be a decades-long process to …

Driving in Georgia While Sitting in California; Remote Control Beats Autonomy

Thu, 04/18/2019 - 12:23
For four days in February, Ben Shukman showed up to his office at Phantom Auto in Mountain View, California, sat down in front of a bank of computer screens with a steering wheel in a darkened room, and began driving. …

Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk

Thu, 04/18/2019 - 11:29
Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name …

New York Contractors Arrested in Workers’ Compensation Fraud Scheme

Thu, 04/18/2019 - 10:53
Two New York state contractors were arrested on charges they filed fraudulent applications for a roofing project in Amsterdam, N.Y., as part of a workers’ compensation fraud scheme. Jose A. Sanchez, owner of Sanchez Partners Construction, was charged with offering …

Vermont Officials Assess Spring Flood Damage

Thu, 04/18/2019 - 10:12
Vermont state and local officials are assessing damage from flooding caused by heavy rains and snowmelt that led to road closures, some evacuations and a rescue from a flooded parking lot. Some roads remained closed Tuesday, but most of the …

Some Connecticut Condo Associations Can Seek Crumbling Foundation Help

Thu, 04/18/2019 - 10:02
Some Connecticut condominium associations with crumbling foundations can seek financial help from the captive insurance company that’s been helping owners of stand-alone homes. Michael Maglaras, superintendent of the Connecticut Foundation Solutions Indemnity Company Inc., announced Monday that associations can apply …

New Crop of Satellites Will Identify Biggest Contributors to Climate Change

Thu, 04/18/2019 - 09:57
A wave of satellites set to orbit the Earth will be able to pinpoint producers of greenhouse gases, right down to an individual leak at an oil rig. More than a dozen governments and companies have or are planning to …

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