October 23, 2017

Mon, 23 Oct 2017 13:30:11 +0000
Catastrophe modeling firm AIR Worldwide has introduced a new inland flood model for Japan along with enhancements to its Japan typhoon model. These models are part of Version 5.1 of AIR’s catastrophe modeling software platform, Touchstone. The AIR Inla...
Mon, 23 Oct 2017 13:13:45 +0000
The British government must act urgently to secure a Brexit transition deal or risk losing jobs and investment in the country, business leaders representing millions of workers are due to warn. In a draft letter due to be sent to …
Mon, 23 Oct 2017 13:04:28 +0000
Optisure Risk Partners, a Manchester, N.H.-based insurance broker, has promoted Christopher Arnold to vice president of its Sutton James Aviation division. In this role, Arnold will continue to work with Sutton James President Jon Doolittle in overseei...
Mon, 23 Oct 2017 12:48:24 +0000
Marsh announced the appointment of Dr. Jamie Saunders as a strategic adviser on cyber risk management within its UK specialist cyber security and risk team, part of the firm’s Client Advisory Services division. Saunders will be based in London. One …
Mon, 23 Oct 2017 12:26:00 +0000
The Hartford has agreed to acquire Aetna’s U.S. group life and disability business for cash consideration of $1.45 billion. This acquisition enhances The Hartford’s group benefits distribution capabilities and accelerates the company’s technology strat...
Mon, 23 Oct 2017 11:52:20 +0000
While the upswing in opioid abuse has leveled off, the level does not appear to be declining and remains disturbingly high, according to an analysis of national data presented at the American Society of Anesthesiologists (ASA) annual meeting. More than …
Mon, 23 Oct 2017 10:49:13 +0000
Aegon NV, the Dutch insurer that generates most of its business from the U.S., is scouting for acquisitions and has looked at companies including smaller rival ASR Nederland NV amid consolidation in the domestic market, according to people familiar with …
Mon, 23 Oct 2017 10:43:15 +0000
Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed u...
Mon, 23 Oct 2017 04:13:52 +0000
Florida Gov. Rick Scott has won the first round in a legal tug-of-war over his mandate that nursing homes and assisted living facilities install generators. The 1st District Court of Appeal on Thursday rejected a legal challenge to emergency rules …
Mon, 23 Oct 2017 04:04:55 +0000
Hurricane Nate preliminary loss estimates are estimated to be between $650 million and $1.35 billion, according to CoreLogic. The loss estimates were calculated based on data analysis, total insured and uninsured loss for both residential and commercia...
Mon, 23 Oct 2017 04:00:09 +0000
Larry Pratt has joined SUNUP Insurance Services, headquartered in North Carolina, as the chief agency officer. Pratt will be responsible for leading agency operations for the company. He comes to SUNUP with experience in agency distribution, including ...
Fri, 20 Oct 2017 20:24:49 +0000
The first admitted insurance carrier has filed to provide coverage to California’s legal cannabis industry and several more carriers have stated their intent to file products, according to state Insurance Commissioner Dave Jones. It also appears that s...
Fri, 20 Oct 2017 16:48:46 +0000
Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies. SwissGuard insures against directors and officers ...
Fri, 20 Oct 2017 16:46:45 +0000
Brown & Brown of Louisiana LLC, a subsidiary of Florida-based Brown & Brown Inc., has acquired substantially all of the assets of Lapeyre, Staples & Robichaux, the companies announced. Lapeyre, Staples and Robichaux, based in Houma, Louisiana, speciali...
Fri, 20 Oct 2017 16:38:40 +0000
Texas Insurance Commissioner Kent Sullivan has declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies. TWIA in August filed a request to increase the limits for …
Fri, 20 Oct 2017 16:25:43 +0000
Arkansas highway officials have left open the possibility they’ll take a road funding proposal to lawmakers in 2019 rather than pursue a ballot measure next year. The move comes a day after Gov. Asa Hutchinson said he would oppose any …
Fri, 20 Oct 2017 16:23:16 +0000
Hundreds of farmers in the Upper Midwest are reporting damage from the controversial herbicide dicamba, and state officials are considering restrictions for the 2018 growing season that might surpass even new federal rules. The state agriculture depart...
Fri, 20 Oct 2017 16:21:30 +0000
The Trump administration’s decision to kill a rule designed to protect the rights of farmers who raise chickens, cows and hogs for the United States’ largest meat processors has infuriated farmer advocates, including a Republican senator from Iowa who ...
Fri, 20 Oct 2017 16:06:17 +0000
North Dakota’s insurance commissioner is bullish on the technological innovations that are occurring within the insurance industry and wants his state to be in the forefront of experimenting with and testing new insurance products and developments. Tho...
Fri, 20 Oct 2017 15:20:19 +0000
Reinsurance intermediary Aon Benfield has appointed Catherine Mulligan as managing director and U.S. Cyber Practice Group leader. Mulligan brings underwriting, policy form and product knowledge to Aon’s cyber capabilities for insurers and will be respo...
Fri, 20 Oct 2017 14:19:49 +0000
ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the th...
Fri, 20 Oct 2017 13:28:11 +0000
Authorities say a Pennsylvania volunteer fire company that was sued over sexual abuse by a firefighter and its alleged cover-up by fire officials has closed its fire station. Lancaster Emergency Management Agency director Randy Gockley tells LNP the We...
Fri, 20 Oct 2017 13:24:10 +0000
Morrison Mahoney LLP, a Boston, Mass.-headquartered law firm, has announced the election of six new partners. The partners represent a range of practice areas including appeals, insurance coverage, construction litigation, professional liability defens...
Fri, 20 Oct 2017 13:16:59 +0000
Several recent corporate and governmental scandals — Wells Fargo and the Veterans Administration to name two — unfortunately have revolved around middle managers and employees who have attempted to meet lofty performance goals that superiors impose...
Fri, 20 Oct 2017 13:11:05 +0000
EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has opened operations in Pittsburgh, Penn., with the hiring of Sean Andreas, Al Dragotto, Kurt Karstens, Pete Kostorick, Sally ...
Fri, 20 Oct 2017 13:06:01 +0000
Kueny Insurance, a Warrington, Penn.-based insurance company, has merged with KMRD Partners, a boutique risk management and human capital solutions firm also based in Warrington. The merger brings three new team members to KMRD with experience in small...
Fri, 20 Oct 2017 12:44:22 +0000
The number of insurance agency mergers and acquisitions over the first nine months of the year rose from 350 in 2016 to 457 this year, OPTIS Partners’ new quarterly report reveals. There were 132 deals announced during the third quarter, …
Fri, 20 Oct 2017 07:44:29 +0000
Toronto-based RSA Canada has appointed Steve Cohen to the newly created role of senior vice president and chief underwriting officer. The SVP and chief underwriting officer role was created to build upon the progress the company has made “in advancing …
Fri, 20 Oct 2017 07:18:19 +0000
Neon announced the launch of an underwriting operation in Italy with Cambiaso Risso, a leading Italian marine broker who will have a minority shareholding in the venture. Based in Genoa, Neon Italy will initially target hull and cargo business placed …
Fri, 20 Oct 2017 06:37:11 +0000
Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-ba...