January 20, 2018

Fri, 19 Jan 2018 17:49:09 +0000
The performance of the commercial automobile segment continued to deteriorate through third quarter 2017, according to a new A.M. Best report. Commercial auto has been a sore spot in the property/casualty for several years. Commercial auto insurers hav...
Fri, 19 Jan 2018 17:36:22 +0000
Commercial construction climbed to another record-breaking year in Sioux Falls. Building permits issued in 2017 for commercial projects reached $739 million. City leaders say it’s the fifth year in a row that construction has reached record-breaking le...
Fri, 19 Jan 2018 17:35:00 +0000
Officials at a northern Oklahoma air force base are asking the public to keep recreational drones away from aircraft after a near collision on a training flight. Lt. Col. Eric Schmidt works at Vance Air Force Base. He told the …
Fri, 19 Jan 2018 17:30:33 +0000
Columbus, Ohio-based insurer, Nationwide, announced that Chief Information Officer Michael Keller will retire from his role later this year. Keller has been the CIO for Nationwide since 2001. The company anticipates it will name Keller’s successor some...
Fri, 19 Jan 2018 16:38:13 +0000
JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc (JLT), the global specialist risk advisor and broker, has chosen Chicago as its U.S headquarters. The company said it has seen impressive growth over the last three years …
Fri, 19 Jan 2018 15:51:08 +0000
Four San Francisco Bay Area residents who say they were injured by protesters during a riot ahead of a speech by a right-wing provocateur at the University of California, Berkeley filed a lawsuit against the university and the city, their …
Fri, 19 Jan 2018 14:47:59 +0000
To support growth within the Georgia market, workers’ compensation specialist The MEMIC Group has announced the promotion of Ben Cavallaro to the position of production underwriter. A native of Portland, Maine, and resident of Alpharetta, Ga., Cavallar...
Fri, 19 Jan 2018 14:22:23 +0000
Some drivers in Maine say their vehicles were damaged when they purchased fuel that was in the wrong pumps at a gas station. The Kennebec Journal reports all of the drivers filled their tanks at a Mobil station in Waterville …
Fri, 19 Jan 2018 14:18:46 +0000
Investigators are working to determine the cause of a fire that broke out at a New Hampshire strip mall. Fire officials say none of the stores were open at the time and there were no injuries. WMUR-TV reports firefighters responded …
Fri, 19 Jan 2018 14:01:39 +0000
Lockton, a privately held, independent insurance broker, has hired JoAnne Steed in its South Florida operation as a senior account executive. In this role, Steed will be based in Lockton’s Miramar, Fl., office. She will be responsible for client strate...
Fri, 19 Jan 2018 13:58:13 +0000
Coverys, a Boston, Mass.-based medical professional liability insurance provider, has announced its investment in two separate organizations, Knowledge Diffusion Inc. (Osmosis) and Pack Health LLC (Pack Health). Osmosis is a medical and health educatio...
Fri, 19 Jan 2018 13:43:13 +0000
The state of Tennessee saw domestic captive insurance companies exceed $1 billion in written premiums in 2017 for the first time – a milestone for Tennessee’s burgeoning captive insurance marketplace. In addition to setting a new benchmark in premium...
Fri, 19 Jan 2018 11:48:20 +0000
Volante Global Ltd., a new multi-class and multi-territory international managing general agent (MGA) platform, has announced the launch of Edison Motor and the appointment of Steven Dickie and Doug Ockwell as joint managing directors of the new operat...
Fri, 19 Jan 2018 11:05:39 +0000
Britain’s vast financial services industry will suffer far fewer job losses from Brexit than first feared, the City of London’s policy chief told Reuters, in remarks that will boost supporters of leaving the EU who say the threat has been …
Fri, 19 Jan 2018 10:48:48 +0000
Lebanon’s intelligence service may have turned the smartphones of thousands of targeted individuals into cyber-spying machines in one of the first known examples of large-scale state hacking of phones rather than computers, researchers say. Lebanon’s G...
Fri, 19 Jan 2018 10:10:20 +0000
The U.S. government and MetLife Inc. announced on Thursday they would jointly seek to dismiss an appeal over whether the insurance company should face stricter oversight as a key part of the financial system. MetLife and the Financial Stability Oversig...
Fri, 19 Jan 2018 09:53:31 +0000
American International Group (AIG) announced that Ed Barron will join the company as head of International Government Affairs, effective March 2018. In this new role, Barron will be responsible for developing a cohesive, global perspective and engageme...
Fri, 19 Jan 2018 09:25:28 +0000
U.S. banks are facing a growing threat from cyber attackers and making defense against them more complex by relying on third-party firms for support, according to a report released Thursday by Joseph Otting, the Trump administration appointee who took ...
Fri, 19 Jan 2018 09:18:48 +0000
RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will pursue the investment through...
Fri, 19 Jan 2018 08:40:06 +0000
The insurance protection gap in developing nations is being filled by a growing group of microinsurers, which provide coverage that ranges from life and health insurance, to crop insurance, to property protection after natural disasters. It is all aime...
Fri, 19 Jan 2018 06:59:30 +0000
A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Pan-American Casualty Co. (PACC) in Richardson, Texas, a wholly owned indirect subsidiary of Pan-American Casualty Co. (PACC) The ratings...
Fri, 19 Jan 2018 06:52:17 +0000
A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Wolverine Mutual Insurance Co. (Wolverine), in Dowagiac, Michigan. The outlook of the Long-...
Fri, 19 Jan 2018 06:00:43 +0000
A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors Co. to pay $1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable. Judge Martin Glenn of the …
Fri, 19 Jan 2018 06:00:32 +0000
One of Warren Buffett’s top deputies has amassed a stake in Berkshire Hathaway Inc. valued at more than $100 million. Ajit Jain, the insurance executive who was named a vice chairman of Buffett’s conglomerate earlier this month, disclosed the holdings …
Fri, 19 Jan 2018 06:00:26 +0000
Could a traffic agency identify a potentially dangerous road intersection without first witnessing a collision? Three Kennesaw State University researchers and the Georgia Department of Transportation (GDOT) are attempting to answer that question as th...
Fri, 19 Jan 2018 05:56:24 +0000
Kentucky has recorded a decrease in highway fatalities for the first time since 2013. The Lexington Herald-Leader reports that the Kentucky Office of Highway Safety says initial numbers show 770 highway-related deaths in 2017, dropping from 834 in 2016...
Thu, 18 Jan 2018 23:32:21 +0000
Glenn Pomeroy, CEO of the California Earthquake Authority, is as enthusiastic of an earthquake policy salesman as you’ll find anywhere. Pomeroy has headed the state’s privately funded, publicly managed seller of earthquake policies for the past 10 year...
Thu, 18 Jan 2018 20:44:57 +0000
Lockton has added David Ring in its Sacramento, Calif. office as a vice president. Ring will be responsible for client consulting and business development for employee benefits and commercial insurance. Ring has specialized in advising clients in the b...
Thu, 18 Jan 2018 18:24:45 +0000
California Insurance Commissioner Dave Jones on Thursday released the results of the formal notice he issued last month to all residential property insurers requesting they provide up to 100 percent of contents coverage limits for fire survivors who ex...
Thu, 18 Jan 2018 17:46:09 +0000
Arkansas Insurance Commissioner Allen Kerr has been named chairman of the Market Regulation and Consumer Affairs (D) Committee of the National Association of Insurance Commissioners (NAIC) for 2018. The mission of the Market Regulation and Consumer Aff...