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Former Arkansas Insurance Commissioner Horne Passes - Former Arkansas Insurance Commissioner Allan W. “Dick” Horne has passed away, according to the Arkansas Insurance Department. Horne led the department for three years, from 1968 through 1970. In a statement, Arkansas Insurance Commissioner Allen Kerr commented: “The Arkansas Insurance …...
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Professional Liability Insurance Brokerage, Gemini Risk, Launched in Michigan - Experienced lawyers and insurance professionals David Kramer and Theodore Nittis have launched Gemini Risk Partners as an independent professional liability insurance brokerage in Bloomfield Hills, Michigan. The firm will focus on serving law firms, as it did when it was …...
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Insurance Education Scholarships Available for Missouri Students - The Missouri Department of Insurance announced that high school seniors and college students, who are Missouri residents, are eligible to apply for Missouri Insurance Education Foundation (MIEF) scholarships. The deadline is March 31. Four, $1,500 scholarships are awarded to graduating …...
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Tata Group Predicts Significant Organic Growth Opportunities in Insurance - The Tata Group sees potential for significant growth in financial services without relying on acquisitions, as India’s largest conglomerate looks to sharpen its focus on about half a dozen businesses. “Both our insurance business and non-banking finance company have got …...
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Travelers Manages Q4 Profit Despite Wildfires, Tax Hit - Property/casualty insurance giant Travelers Companies Inc. reported net income of $551 million for the quarter ended December 31, 2017, a 42 percent drop compared to $943 million in the prior year quarter. The drop was attributable to claims from California’s …...
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Idaho School Trying to Recover Data Weeks After Ransom-Seeking Cyberattack - Nearly six weeks after being hit by a massive ransomware cyberattack, the Jerome School District is still working to recover. On Dec. 11, school district officials found out much of its data was encrypted. Each affected file included a message …...
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California Commissioner Wants Insurers to Pass Tax Savings to Policyholders - California Insurance Commissioner Dave Jones wants insurers in his state to pass along savings from taxes expected to be generated by the new tax bill passed in Congress recently. “The recent revision to the Federal Tax Schedule for 2018 reduced …...
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TigerRisk Names Beckers, from Aon, as Partner and Head of EMEA - TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced that Marc Beckers has been named partner and head of EMEA. Beckers, most recently head of Aon Benfield ReSolutions EMEA, is one of Europe’s foremost experts on non-traditional risk-transfer structures and …...
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Facebook Responds to EU?s New Data Law with Changes to Privacy Controls - Facebook will make it easier for its more than 2 billion users to manage their own data in response to a tough new European Union law that comes into force in May, the social network’s Chief Operating Officer Sheryl Sandberg …...
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Liberty Mutual Sells Off Life Insurance Unit, Realigns U.S., Global P/C Business - Liberty Mutual is getting out of the life insurance business, and the insurer will reorganize in order to better focus on its remaining P/C businesses. The Boston-based global insurer said it will sell its life insurance arm ? Liberty Life …...
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Khan Promoted to CEO, President at ThinkRisk and CorPro - Ryan Specialty Group (RSG) announced the promotion of Reza Khan to chief executive officer and president of ThinkRisk Underwriting Agency and CorPro Underwriting Managers. Reza previously served as executive vice president for both entities and has been with ThinkRisk since …...
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SpaceX Lost Satellite on U.S. Mission Was Uninsured - U.S. taxpayers may end up paying for the missing satellite launched by Elon Musk’s Space Exploration Technologies Corp. that crashed into the ocean earlier this month, part of a classified U.S. government mission dubbed “Zuma.” Questions remain around the event, …...
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Two More Counties Added to New York?s Lake Flooding Disaster Declaration - New York officials say two more counties that sustained extensive shoreline damage from Lake Ontario flooding last year are now eligible for federal recovery aid. Gov. Andrew Cuomo and U.S. Sens. Chuck Schumer and Kirsten Gillibrand, all Democrats, announced Friday …...
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Filing Deadline Approaching for New York?s Cybersecurity Regulation - New York Department of Financial Services Superintendent Maria T. Vullo has reminded all regulated entities and licensed persons covered by the Department of Financial Services’s (DFS) cybersecurity regulation that the first certification of compliance must be filed on or prior …...
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Delaware Deputy Insurance Commissioner Crane to Leave State Service - Delaware Insurance Commissioner Trinidad Navarro has announced that Deputy Commissioner Mitch Crane will end his service to the state of Delaware on February 16, 2018. Crane has served as Commissioner Navarro’s deputy since the beginning of the Commissioner’s term on …...
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Connecticut?s Paragon Insurance Holdings Hires Petersen - Paragon Insurance Holdings LLC (Paragon), an Avon, Conn.-based national multi-line specialty managing general agent, has hired Andrew Petersen to the Paragon executive management team as regional president and executive vice president of reinsurance operations. In his new role, Petersen will …...
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6.1 Magnitude Quake Hits Indonesia, Causing Damages, Injuries on Java Island - Office workers fled high-rise buildings in the Indonesian capital on Tuesday after a strong earthquake shook the city, causing some injuries and damage to at least 130 buildings elsewhere on the densely populated island of Java. The relatively shallow quake …...
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Airbus Looks to Insurers to Fill Export Trade Funding Gap After Europe?s Freeze - Airbus said on Monday it is working with private insurance firms and banks to help fill a two-year gap in trade funding left by a European freeze on government export credits, but expects limited public financing to resume soon. Airbus …...
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UK Government Hit for Failing to Publish Brexit Position Paper on Financial Services - Business leaders have criticized Britain’s government for its failure to publish a long-delayed paper on the future of its financial services industry after Brexit. Senior financiers say they were told after the summer that the government would issue a position …...
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AIG?s Dealmaker CEO Duperreault Says Validus ?Fits Like a Glove? - American International Group Inc. is getting bigger again. Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a $5.56 billion, all-cash deal to purchase Bermuda reinsurer Validus Holdings …...
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If They Try It, They?ll Like It: How Ridesharing, Autonomous Cars Will Win Over the Public - Five years ago, when she was still an insurance broker with Marsh, Kate Sampson called insurance underwriters at American International Group (AIG) and other insurers with a new concept. “I’m working with this company and this is what they’re going …...
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Report: West Virginia Controlled Substance Dispensing Down 11.7% in 2017 - A West Virginia board report says state pharmacies dispensed 31 million fewer controlled substances last year, a trend the board’s acting chief says is due to heightened awareness about prescription medication overdose deaths. The Charleston Gazette-Mail reports the decline was …...
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Good2Go Auto Insurance to Offer Distracted Driving App Through LifeSaver - Good2Go Auto Insurance, Inc., has partnered with mobile software provider LifeSaver to fight distracted driving. Good2Go Auto Insurance’s direct policyholders now have access to the The LiveSaver mobile app to help ignore the urge to use their phones while driving. …...
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Alabama-Based ProAssurance Promotes Rand to Chief Operating Officer - ProAssurance Corporation, based in Birmingham, Ala., has promoted Edward L. “Ned” Rand, Jr. to chief operating officer. In this newly created position, Rand will be responsible for the day-to-day operations of ProAssurance, reporting directly to Stan Starnes, chairman and chief …...
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Regions Insurance Taps Breedlove to Lead Property & Casualty Operations from Georgia - Regions Insurance, an affiliate of Regions Bank, has named Mike Breedlove executive vice president of Property & Casualty Operations. Breedlove will be responsible for leading the company’s property & casualty strategy across the country through a growing network of offices …...
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Employees Missing After Oklahoma Drilling Rig Fire - Drilling contractor Patterson-UTI said some of its employees were missing on Monday after a fire at one of its drilling rigs in Pittsburg County, Oklahoma. The company said it had activated its emergency response systems and was cooperating with first …...
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NFP Names Wadsworth Vice President for Corporate Benefits in Utah - NFP has named Clint Wadsworth vice president for corporate benefits. Wadsworth has been assigned to oversee and help lead the corporate benefits strategy within NFP’s existing large employer segment. Wadsworth will help support NFP’s relationships in the Utah Market. Wadsworth …...
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Leavitt Central Coast Insurance Services Acquires Pulford in California - Pulford Insurance Agency has been acquired by Leavitt Central Coast Insurance Services. The merger will not affect customer policies, and the same personnel will continue to serve clients, now at the LCCIS location in Salinas, Calif. Terms of the deal …...
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Homes Destroyed, Power Outages in Texas Storm - Heavy thunderstorms produced hail and possible tornadoes in northeast Texas on Sunday night, with the communities of DeKalb and Winnsboro hardest hit, according to the Insurance Council of Texas. In DeKalb, a possible tornado struck the city’s south side causing …...
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Female Rowers Sue University in Texas Court Alleging Gender Discrimination - Members of the SMU women’s rowing team have sued the school, alleging gender discrimination and negligence led to hip injuries. The lawsuit was filed in federal court in Dallas, Texas on behalf of seven past and present team members. It …...
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