Wed, 17 Jan 2018 20:33:06 +0000
A federal judge in Philadelphia on Tuesday rejected Wells Fargo & Co.’s bid to dismiss that city’s lawsuit accusing the largest U.S. mortgage lender of predatory lending targeting black and Hispanic borrowers. U.S. District Judge Anita Brody said Phila...
Wed, 17 Jan 2018 17:44:38 +0000
A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Midwest Family Advantage Insurance Co. (Midwest Advantage). The outlook assigned to these ratings is stable. Conc...
Wed, 17 Jan 2018 17:40:30 +0000
Some Texas coastal towns where Hurricane Harvey made landfall are working to restore tourism and other economic attractions nearly five months after the storm. Hundreds of businesses in Rockport and Fulton are now open amid recovery efforts assisted by...
Wed, 17 Jan 2018 17:36:25 +0000
Chicago-based ISMIE Mutual Insurance Co., a provider of medical professional liability insurance services, has promoted Edward J. Carroll JD to vice president of Underwriting. Carroll joined ISMIE Mutual in early 2017 when he was appointed as director ...
Wed, 17 Jan 2018 17:33:31 +0000
A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Thousand Oaks, Calif.-based Pacific Compensation I...
Wed, 17 Jan 2018 17:28:00 +0000
The city of West, Texas, and several other plaintiffs have reached settlements and partial settlements of claims stemming from a deadly explosion in the central Texas town. An April 13, 2013, blaze heated up 30 tons of ammonium nitrate at …
Wed, 17 Jan 2018 17:26:25 +0000
Houston International Insurance Group (HIIG) announced it has promoted five senior management executives. Kirby A. Hill was promoted to executive vice president of HIIG Property/Casualty operations. Hill, who has been with the company for nearly 10 yea...
Wed, 17 Jan 2018 17:17:14 +0000
Two motorcycle manufacturers and their trainers are accused of negligence in a lawsuit over the death of a central Ohio police officer. Sean Johnson lost control of his motorcycle during an on-duty training ride with fellow officers from Hilliard and …
Wed, 17 Jan 2018 17:00:32 +0000
Brit Global Specialty USA has appointed Rich Hartman as senior vice president, Construction Professional. Hartman brings 35 years of experience in the insurance industry. Most recently he spent more than six years at Arch Insurance Group, where he led ...
Wed, 17 Jan 2018 15:40:47 +0000
A slow-moving landslide in central Washington state has forced evacuations as officials prepare for what they say is inevitable – the collapse of a ridge near an interstate highway. Washington is wary of landslides following one in 2014 that killed …
Wed, 17 Jan 2018 15:37:31 +0000
Two utilities were sued Tuesday for the widespread destruction from last week’s deadly mudslides that were caused when hillsides ravaged by California’s largest wildfire let loose in heavy rain. An amended negligence lawsuit filed in Santa Barbara Coun...
Wed, 17 Jan 2018 14:05:25 +0000
Canadian financial technology company Ratehub Inc. has raised a $12 million Series A investment led by Elephant, a venture capital firm. Participating in the funding round was Simon Nixon, co-founder of UK-based financial comparison site MoneySuperMark...
Wed, 17 Jan 2018 14:04:58 +0000
Charlotte-based global wholesale broker AmWINS Group announced that Scott M. Purviance will succeed M. Steven DeCarlo as the company’s chief executive officer, effective May 1, 2018. DeCarlo, who has served as CEO of AmWINS since joining in December 20...
Wed, 17 Jan 2018 12:53:53 +0000
Business interruption and cyber incidents interlink as the major threat facing companies over the coming year, according to a report published by Allianz Global Corporate & Specialty (AGCS). Allianz revealed that business interruption – including sup...
Wed, 17 Jan 2018 11:57:52 +0000
Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired FIRM Inc., an insurance agency located in Mahwah, N.J. Terms of the transaction were not disclosed. FIRM Inc. provides clients wi...
Wed, 17 Jan 2018 11:23:47 +0000
An unlicensed home improvement contractor whose false promises left an elderly Massachusetts woman’s home in ruins and others temporarily homeless is heading to prison. The Salem News reports that 49-year-old Jaime Ford was sentenced to two years in pr...
Wed, 17 Jan 2018 11:17:08 +0000
Starkweather & Shepley Insurance Brokerage Inc. hired Russell Corner II as a construction and surety specialist. Corner’s key responsibilities in this role include managing relationships with current and prospective clients, as well as bringing in new ...
Wed, 17 Jan 2018 10:35:04 +0000
Last week, the U.K. government asked German business leaders for help in securing a good deal with the European Union on financial services. The request deserves to be taken seriously. Europe’s businesses have much to gain from keeping London as …
Wed, 17 Jan 2018 10:09:28 +0000
An Iranian oil tanker that sank in the East China Sea has left two oil slicks covering a combined 109 square km (42 square miles), the Chinese government said late on Tuesday, as maritime police scour for damage and prepare …
Wed, 17 Jan 2018 09:25:33 +0000
British travel company Thomas Cook has partnered with fintech firm Revolut to launch a “pay-per-day” travel insurance service which automatically provides users with medical cover by tracking their location through their mobile phones. Revolut, the dig...
Wed, 17 Jan 2018 08:30:25 +0000
The insurance protection gap. It’s a phrase that will be increasingly heard over the coming years – because it is getting bigger. The protection gap is the difference between insured losses and economic losses, or uninsured losses. The protection gap …
Wed, 17 Jan 2018 07:04:53 +0000
Ascent Underwriting, a niche-product managing general agent, has launched a professional liability product for allied health practitioners and facilities in the U.S. Ascent’s new Allied Health product includes a combination of cyber cover, regulatory b...
Wed, 17 Jan 2018 06:54:35 +0000
A casino company said Monday it never had a problem with the shuttle boat that burst into flames off Florida’s Gulf Coast, leading to the death of a female passenger. Tropical Breeze Casino spokeswoman Beth Fifer said the company does …
Wed, 17 Jan 2018 06:35:57 +0000
Supporters of legalizing medical marijuana in Kentucky touted its potential as a viable alternative to ease the state’s addiction woes from opioid painkillers. Secretary of State Alison Lundergan Grimes joined other advocates at a state Capitol event l...
Wed, 17 Jan 2018 06:20:00 +0000
The 2018 Florida Legislative Session is underway, and lawmakers have wasted no time taking up legislation to address the assignment of benefits crisis plaguing the state. While they debate which reform option to back, stakeholders say the Florida Legis...
Wed, 17 Jan 2018 06:00:33 +0000
The number of Americans without healthcare insurance rose by 3.2 million people between 2016 and 2017, or 1.3 percentage points to 12.2 percent, according to a Gallup poll released on Tuesday, the biggest jump in the uninsured rate in nearly …
Wed, 17 Jan 2018 06:00:26 +0000
Automakers and lawmakers expressed hope on Tuesday that U.S. Congress would soon pass a stalled bill aimed at speeding self-driving cars to market, even as safety advocates argued for more performance requirements. The U.S. House of Representatives in ...
Wed, 17 Jan 2018 06:00:00 +0000
The U.S. Supreme Court last Friday agreed to review a bid by Schlumberger NV, the world’s largest oilfield services provider, to allow companies to recoup profits lost due to patent infringement when patented technology is used overseas. The case invol...
Tue, 16 Jan 2018 22:47:49 +0000
San Diego, Calif.-based Cavignac & Associates has hired Brittany Aceves to serve as an account manager within the firm’s surety department. Aceves serves as the main point of contact for the agency’s surety department clients, managing and maintaining ...
Tue, 16 Jan 2018 19:50:45 +0000
MJ Insurance has added Justin Rarick as a risk management consultant in its Phoenix, Ariz. office. Rarick is responsible for driving sales and service to new and existing clients. Rarick previously was a commercial claims specialist at Nationwide Insur...