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Insurance Journal

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Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 6 hours 58 min ago

In Texas, Higginbotham and Exploration Insurance Group Merge

Fri, 08/16/2019 - 16:41
Fort Worth, Texas-based Higginbotham and Exploration Insurance Group (EIG) have merged their operations in Tyler, Texas. EIG opened in 2013 in Tyler to meet the east Texas region’s growing need for industry specific insurance. The independent seven-person agency brokers commercial …

California’s $27.6M Fine Against Mercury Insurance Remains After Court Action

Fri, 08/16/2019 - 16:07
California regulators say a ruling by the state’s highest court means a $27.6 million fine imposed against Mercury Insurance Co. for improperly tacking fees onto auto insurance policies will stand. The California Department of Insurance reported on Aug. 15 that …

AXA XL Adds Zurich’s Arezes as Senior Underwriter for Large Property in Canada

Fri, 08/16/2019 - 16:03
AXA XL has added Jennifer Arezes to its property insurance team in Canada. Arezes is based in Toronto and will work alongside Ian Rutherford, head of Property, Canada and Urs Uhlmann, CEO and country manager AXA XL, Canada to grow …

Greek Firefighters Battle Multi-Day Blaze in Nature Reserve

Fri, 08/16/2019 - 15:44
Greek authorities sent reinforcements Thursday to firefighters battling a major forest fire in a nature reserve on the island of Evia as water-dropping aircraft tried to extinguish the flames in a hard-to-reach canyon. On the third day of the fire, …

Travelers Names Cohn to New Chief Sustainability Officer Post

Fri, 08/16/2019 - 15:27
The Travelers Cos. has created a new position of chief sustainability officer and named Yafit Cohn to fill the post. Cohn will lead Travelers’ environmental, social and governance (ESG) efforts across the organization and will serve as a member of …

Over 400 Sex Abuse Suits Filed in New York as Litigation Window Opens

Fri, 08/16/2019 - 14:46
The Roman Catholic Church, the Boy Scouts, schools and hospitals, the late financier Jeffrey Epstein are some of the targets named in a flurry of sex abuse lawsuits filed Wednesday in New York as the state began accepting cases once …

Nepal Government Panel Wants Mount Everest Hikers to Have Experience, Insurance

Fri, 08/16/2019 - 13:43
A Nepal government committee formed after a bad mountaineering season on Mount Everest has recommended requiring climbers to have scaled tall peaks, undergone proper training, and possess certificates of good health and insurance that would cover rescue costs if required. …

Women Accuse Opera Star Domingo of Sexual Harassment Over Decades

Fri, 08/16/2019 - 13:33
For decades, Placido Domingo, one of the most celebrated and powerful men in opera, has tried to pressure women into sexual relationships by dangling jobs and then sometimes punishing the women professionally when they refused his advances, numerous accusers told …

Native American Tribe Says Showtime’s ‘Billions’ TV Show Defamed Reputation

Fri, 08/16/2019 - 13:30
In the hit Showtime series “Billions,” it seems, everybody’s somebody. Ruthless hedge fund titan Bobby Axelrod evokes Steven A. Cohen, the billionaire founder of SAC Capital Advisors. U.S. Attorney Chuck Rhoades is a Preet Bharara type. And then there’s the …

Hundreds of North Carolina Transportation Workers to be Laid Off

Fri, 08/16/2019 - 13:27
North Carolina’s Transportation Department says it’ll lay off hundreds of workers to help cover the ballooning cost of storm damage repairs and legal expenses. News outlets report that layoffs will include contractual and temporary laborers such as those who patch …

Brightway Insurance to Open Four Stores in Florida, South Carolina, Colorado

Fri, 08/16/2019 - 13:20
Brightway Insurance will open four new stores in Florida, South Carolina and Colorado on Monday, August 19. Alex McGregor opened Brightway, The McGregor Agency in Deerfield Beach, Fla., Lisa Jewell opened Brightway, The Lisa Jewell Agency in St. Petersburg, Fla., …

Two Florida Independent Agencies Join Renaissance Alliance Insurance Services

Fri, 08/16/2019 - 13:18
Renaissance Alliance Insurance Services, a membership alliance for independent insurance agencies, has announced that two Miami, Fla.-based independent insurance agencies have recently joined the Alliance. Gil & Associates Insurance Consultants Inc., a family-owned and operated independent agency established in 2004, …

Deaths of Soccer Star Sala and Pilot Linked to Carbon Monoxide Leak in Plane

Fri, 08/16/2019 - 13:14
Argentine soccer player Emiliano Sala and his pilot were exposed to dangerous levels of carbon monoxide before their small plane crashed in the English Channel, killing them both, British accident investigators said Wednesday. A single-engine Piper Malibu aircraft carrying Sala …

Olive Branch Residents Still Recovering Two Months After Flood

Fri, 08/16/2019 - 13:12
Frances Ivonne Brensdal woke up June 7 to find her Olive Branch home flooded after a night of record rainfall, which left her family and others displaced. She didn’t even know it was raining. “My neighbor called me at 2:30 …

Prosecutors Allege Capital One Suspect Hacked 30 Other Companies

Fri, 08/16/2019 - 13:06
The Seattle woman accused of hacking into Capital One Financial Corp.’s cloud and stealing personal information on more than 100 million Americans also broke into servers of more than 30 other companies, the U.S. said in a request to keep …

Brown & Brown of Massachusetts Acquires Assets of Yozell

Fri, 08/16/2019 - 13:06
Brown & Brown of Massachusetts LLC has acquired substantially all of the assets of Yozell. Founded in 1960 by Peter Yozell, Yozell Associates strives to provide its customers with value in group employee and executive benefits products and services. Following …

Hub International Limited Acquires Assets of Insurance Center of New England

Fri, 08/16/2019 - 13:00
Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Insurance Center of New England Inc. (ICNE). Terms of the transaction were not disclosed. With locations in Agawam and Gardner, Mass., ICNE is a locally owned, independent …

42% of $44 Billion Global Catastrophe Losses in First Half Were Insured: Swiss Re

Fri, 08/16/2019 - 12:55
Natural catastrophes and man-made disasters in the first half of 2019 were responsible for USD $44 billion of economic losses globally, according to Swiss Re Institute’s preliminary sigma estimates. This figure is well below USD $109 billion, the average first-half …

Woodruff Sawyer Adds New England Practice Leader Coady to Board of Directors

Fri, 08/16/2019 - 12:52
Woodruff Sawyer, a U.S. insurance brokerage, has announced that Sean Coady, senior vice president and New England practice leader, has joined the Board of Directors. Prior to joining Woodruff Sawyer, Coady was a co-founder of Capstone Insurance, an independent insurance …

Walmart CEO Calls for Congress to Debate Assault Weapons Ban

Fri, 08/16/2019 - 12:30
In the wake of a mass shooting at a Walmart Inc. store, Chief Executive Officer Doug McMillon called for an assault weapons ban to be debated by Congress and said he’s encouraged by growing support for gun-control measures like background …

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