Insurance news

• Sedgwick LLP Names Holmes Managing Partner in Los Angeles

  04-01-2017 20:30
  
  Sedgwick LLP has named James Holmes an office managing partner in Los Angeles. Holmes is an experienced trial attorney and litigator, representing major media and entertainment entities, as well as major insurance carriers insuring those companies. He defends clients in …
  
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• Duck Creek Technologies acquires data management solution company

  04-01-2017 20:30
  
  Yodil offers data management solutions to P&C, workers’ comp and specialty lines insurers.
  
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• Ten New Partners Named at Woodruff-Sawyer in California

  04-01-2017 20:07
  
  San Francisco, Calif.-based Woodruff-Sawyer & Co. has named 10 new partners to the firm. The partners represent various product lines, from property/casualty to management liability to employee benefits, and are located at the firm’s San Francisco, Southern California, Northwest and …
  
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• New Partners Named at Woodruff-Sawyer in Western Region

  04-01-2017 20:07
  
  San Francisco, Calif.-based Woodruff-Sawyer & Co. has named 10 new partners to the firm. The partners represent various product lines, from property/casualty to management liability to employee benefits, and are located at the firm’s San Francisco, Southern California, Northwest and …
  
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• Around the P&C insurance industry: Jan. 4, 2017

  04-01-2017 18:45
  
  News from HCI Group, Chubb, Sedgwick and more.
  
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• Can a carrier decline coverage due to incorrect information on an application?

  04-01-2017 18:27
  
  Failure to disclose material facts can affect coverage.
  
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• Stephens Insurance Adds Braniff, Plumhoff as Executives in Houston

  04-01-2017 17:45
  
  Little Rock, Ark.-based Stephens Insurance LLC has hired John Braniff Jr. and Jonathan Plumhoff in an expansion of its Houston office, which the company opened last year. Braniff joins Stephens as executive vice president with expertise in worldwide catastrophic property …
  
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• Duck Creek Technologies Acquires Data Management Software Firm Yodil

  04-01-2017 17:13
  
  Duck Creek Technologies, a Boston-based provider of core system cloud services and software to the global property/casualty insurance industry, said it has acquired Yodil, an insurance data management software firm based in Charlotte, North Carolina. Details of the transaction were …
  
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• Heffernan Names Matlock Assistant Vice President in California

  04-01-2017 17:12
  
  Heffernan Insurance Brokers has named Paul Matlock assistant vice president in its commercial lines department of the Petaluma, Calif. office. Matlock has more than 10 years of sales experience in technology and finance. He was most recently with Coding Pixel …
  
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• BMW to deploy fleet of self-driving 7-Series on roads this year

  04-01-2017 17:02
  
  The German automaker will put 40 of its autonomous 7-Series sedans on the road in U.S. and European cities and train them to drive in urban areas.
  
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• Economical Completes Purchase of Canada’s Largest Pet Insurer

  04-01-2017 16:45
  
  Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed …
  
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• Maryland’s PSA Insurance Hires Volk to Lead Cyber Risk Management Practice

  04-01-2017 15:23
  
  With cyber attacks at an all-time high, PSA Insurance & Financial Services (PSA), a Baltimore, Md., headquartered independent firm specializing in risk management, personal insurance and employee benefits, has added an experienced expert to its risk solutions team. PSA has …
  
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• New Hampshire Car Dealer Incurred Damages from Municipal Sewer Line

  04-01-2017 14:59
  
  A judge has ruled that a Portsmouth, N.H., auto dealership incurred damages caused by a city sewer line running through the property. The Portsmouth Herald reports Rockingham County Judge William Delker says Toyota dealer James Boyle wasn’t informed when he …
  
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• New Jersey Based AXON Underwriting Services Hires McMillan

  04-01-2017 14:53
  
  AXON Underwriting Services LLC, a program administrator and service provider based in Somerville, N.J., has hired David McMillan as an underwriting manager. He joins the firm in order to further develop its growing portfolio of environmental insurance products in the …
  
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• 24 Independent Insurance, Benefits Agencies Form National Brokerage, Alera Group

  04-01-2017 14:52
  
  There is a new national independent insurance brokerage and wealth management firm that opens its doors with more than 20,00 clients, $158 million in annual revenues and 750 employees in 40 offices across 15 states. The new firm is called …
  
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• Judge Halves Jury’s $1 Billion Punitive Damages Award in J&J Hip Implant Case

  04-01-2017 14:11
  
  Johnson & Johnson won a ruling cutting almost in half a $1.04 billion jury award to patients who accused the company of hiding defects in its Pinnacle artificial hips that had to be surgically removed. A judge on Tuesday left …
  
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• Israeli Government Opposes Sale of Insurers to Chinese Investors: Source

  04-01-2017 13:05
  
  Israel’s Finance Ministry opposes the sale of insurance companies to Chinese investors because it’s hesitant to put pension money in their hands, a senior government official said, a stance that could bode ill for Fujian Yango Group Co.’s bid to …
  
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• RenaissanceRe Forms Special Purpose Insurer Fibonacci Re

  04-01-2017 12:52
  
  Renaissance Reinsurance Ltd. announced the formation of Fibonacci Reinsurance Ltd., a special purpose insurer domiciled in Bermuda. Fibonacci Re was formed to provide collateralized capacity to Renaissance Reinsurance, the principal Bermuda-based reinsurance subsidiary of RenaissanceRe Holdings Ltd. Fibonacci Re, which …
  
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• Ryan Specialty Group Buys Navigators’ Agency Operations in Sweden, Denmark

  04-01-2017 12:45
  
  Ryan Specialty Group LLC has acquired The Navigators Group Inc.’s insurance agency operations in Sweden and Denmark. The transaction represents a 100 percent acquisition of Navigators’ Sweden and Denmark corporations, NUAL AB and Navigators A/S, respectively. Navigators’ local employees have …
  
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• Does rescinding insurance policy bar an injured party’s claim?

  04-01-2017 12:30
  
  When a court rescinds an insurance policy, does the injured party still have a claim for damages?
  
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• Global Natural Catastrophes Cost Insurers $50B in 2016: Munich Re

  04-01-2017 12:16
  
  Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in Japan and devastating floods in China – …
  
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• Swiss Re Corporate Solutions Names Schmaler as Head of MENA

  04-01-2017 12:03
  
  Swiss Re Corporate Solutions has appointed Falk Schmaler as head of Middle East and North Africa (MENA). In his new role, Schmaler will be based in Dubai and responsible for driving the company’s business strategy and market presence in the …
  
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• InsurTech’s pay-as-you-go promise

  04-01-2017 12:00
  
  What usage-based insurance means to consumers, what it will do for insurers and how insurers need to prepare their enterprises to take advantage of it.
  
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• Are you pretending to be a salesperson?

  04-01-2017 12:00
  
  If you want to be a successful salesperson, you can't fake your way through the critical elements of the job.
  
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• Florida Judge Finds Pollution Notification Rule is Invalid

  04-01-2017 07:09
  
  A Florida judge says a rule requiring companies to notify the public of pollution events within 24 hours is invalid. The new rule was pushed by Gov. Rick Scott after it took weeks for the public to be notified about …
  
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• AIG Completes Sale of Mortgage Unit to Arch Capital for $3.4 Billion

  04-01-2017 07:00
  
  American International Group said it has completed the $3.4 billion sale of its mortgage guaranty unit to Arch Capital Group. The deal to sell United Guaranty Corp. (UGC), first announced in August 2016, closed on Dec. 31. “With this transaction, …
  
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• Police in Savannah, Georgia Urge Vigilance After Rise of Business Burglaries in 2016

  04-01-2017 06:46
  
  Police records show business owners in Savannah, Ga., reported a significant increase in burglaries during 2016. Crime reports by Savannah-Chatham County police show 347 commercial burglaries were reported between last Jan. 1 and Dec. 24. That’s up 41 percent from …
  
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• Homes on West Virginia’s Wheeling Island Damaged by Fire

  04-01-2017 06:34
  
  Authorities are searching for the cause of a fire that tore through a row of houses on Wheeling Island, W. Va. Wheeling Fire Department spokesman Philip Stahl tells media outlets no one was injured in the fire that was reported …
  
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• Velocity Risk Underwriters Expands Coverage to Coastal Homeowners in Florida

  04-01-2017 06:01
  
  Velocity Risk Underwriters has expanded its Florida home insurance products and is now writing coastal homeowners policies statewide. Velocity offers an A.M. Best “A” rated coastal homeowners program through Texas-based State National Insurance Company. Velocity had been writing home insurance …
  
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• 4 ways the insurance industry can win the war on talent

  04-01-2017 06:01
  
  All companies must learn to evolve talent management to help young professionals thrive in the modern insurance workplace.
  
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• National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017; 25 Reinsurers Participate

  04-01-2017 04:04
  
  For just the second time in its history, the federal government’s National Flood Insurance Program (NFIP) has reinsurance to help it weather major storms. The Federal Emergency Management Agency (FEMA), which manages NFIP, announced that it has secured more than …
  
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• National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017

  04-01-2017 04:04
  
  For just the second time in its history, the federal government’s National Flood Insurance Program (NFIP) has reinsurance to help it weather major storms. The Federal Emergency Management Agency (FEMA), which manages NFIP, announced that it has secured more than …
  
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• New North Dakota Insurance Commissioner Appoints Deputy, Exec Assistant

  04-01-2017 01:23
  
  North Dakota’s new insurance commissioner, Jon Godfread, who was sworn in on Jan. 3, 2017, appointed Jeff Ubben as deputy insurance commissioner and Marcy Ost as executive assistant as part of his first official day in office. Godfread succeeds Adam …
  
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• Former Iowa Insurance Commissioner Gerhart to Join FBL Financial

  04-01-2017 01:13
  
  FBL Financial Group Inc. announced that former Iowa Insurance Commissioner Nick Gerhart is joining company as chief administrative officer, on or around Jan. 23, 2017. Gerhart will have responsibility for enterprise strategic planning, government relations, human resources and health services, …
  
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• More Earthquakes Strike Near Pawnee, Oklahoma

  04-01-2017 01:07
  
  Three earthquakes have struck in the area of northern Oklahoma that was rattled last year by the largest earthquake in state history. The U.S. Geological Survey says back-to-back earthquakes hit in the morning on Jan. 2 morning near Pawnee, about …
  
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• Heavy Snowpack Has Some in North Dakota Wary of Spring Flooding

  04-01-2017 01:06
  
  Some Minot residents who endured the Souris River flood of 2011 are having trouble digesting the current snowpack numbers. The National Weather Service says the snowfall total in the city for November and December is approaching 43.5 inches, which is …
  
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• Ohio County Sued by Employees over 2015 Legionnaires’ Outbreak

  04-01-2017 01:03
  
  Seven Lucas County, Ohio, employees who became sick after exposure to a rare form of Legionnaires’ bacteria have filed a lawsuit. The Blade newspaper reports that the lawsuit seeks damages from the county board of commissioners and multiple other defendants. …
  
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• Truck Crashes on Steep Arkansas Road Lead to More Warning Signs

  04-01-2017 00:58
  
  The state highway department plans more warning signs on a steep, hilly road in the Arkansas Ozarks after several wrecks involving large trucks. In the past 21/2 years, seven trucks have wrecked on a 2-mile stretch of Arkansas 43 near …
  
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