News – Insurance Journal Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
- AXIS Consolidates 4 Businesses Into Single Global Cyber and Technology Unit
on 2018-11-30 at 14:12AXIS Insurance said it is merging its U.S. Cyber, Technology, Media and Miscellaneous Professional Liability businesses into one major division to better address “borderless risks.” Dan Trueman has been appointed as global head of the division, dubbed the Global Cyber […]
- British, Dutch Regulators Fine Uber for 2016 Cyber Attack
on 2018-11-30 at 09:30British and Dutch regulators on Tuesday [Nov. 27] fined ride-hailing service Uber for failing to protect customers’ personal information during a 2016 cyber attack involving millions of users. Names, mobile phone numbers and email addresses were compromised in the breach, […]
- UK’s EU Draft Divorce Deal Preferable to No-Deal Brexit, Says FCA
by Huw Jones on 2018-11-30 at 09:06Britain’s draft divorce settlement with the European Union is preferable to a no-deal Brexit even though this would leave it without a say over EU financial rules, its finance industry watchdog said on Thursday. The Financial Conduct Authority’s report was […]
- Justice Department Vows to Pursue Individual Executives in Corporate Crime Cases
by Tom Schoenberg on 2018-11-30 at 06:00The U.S. Justice Department will make executive accountability a part of every investigation of corporate wrongdoing, Deputy Attorney General Rod Rosenstein said. “Under our revised policy, pursuing individuals responsible for wrongdoing will be a top priority in every corporate investigation,” […]
- Democrats’ Climate Change Concern Ebbs When Congress Faces Flood Insurance
by Christopher Flavelle and David Schultz on 2018-11-30 at 06:00A Congressional stalemate over flood insurance highlights the difficulty of enacting the type of reforms urged last week in a U.S. government report on climate change — even for Democrats, who embraced the report’s findings. The heavily indebted National Flood […]
- Judges Weigh Consolidating Firefighting Foam, Other Water Chemical Lawsuits
by Tiffany Kary on 2018-11-30 at 06:00Creating a massive lawsuit over cancer-linked chemicals found in around a third of Americans’ drinking water got a skeptical reception in federal court Thursday. A panel of seven judges in Manhattan repeatedly asked whether cases across the U.S. should be […]
- Democrats, Republicans Tentatively Agree on Farm Bill with Crop Insurance, Food Stamps
by Daniel Flatley, Erik Wasson and Teaganne Finn on 2018-11-30 at 06:00Democrats and Republicans said they reached a tentative deal on farm legislation after jettisoning controversial work requirements for food stamp recipients demanded by President Donald Trump and conservatives in the House. Lawmakers said Thursday they expect both chambers to take […]
News – Claims Journal Insurance news and resources for the claims industry
- Evidence Issue for Woman Suing Over North Dakota Protest Injury
by BLAKE NICHOLSON on 2018-11-30 at 10:41A New York City woman who suffered a severe arm injury while protesting the Dakota Access oil pipeline in North Dakota two years ago is suing law enforcement even though she does not yet have evidence that might help her […]
- Breast Implants Highlight Medical Device Safety Tracking Issues
by MEGHAN HOYER on 2018-11-30 at 10:35To all the world, it looked like breast implants were safe. From 2008 to 2015, the U.S. Food and Drug Administration publicly reported 200 or so complaints annually – a tiny fraction of the hundreds of thousands of implant surgeries […]
- Report: Pennsylvania Fire, Rescue Services Face Crisis
by MARK SCOLFORO on 2018-11-30 at 10:09A report released Wednesday warns that Pennsylvania’s fire and rescue services face a crisis, saying the number of volunteers continues to fall amid funding needs and training challenges. The 95-page legislative study said there were about 300,000 volunteer firefighters in […]
- New Puerto Rico Laws Govern Insurance Claims Handling Post-Maria
by DANICA COTO on 2018-11-30 at 09:31The governor of Puerto Rico overhauled the U.S. territory’s insurance laws on Tuesday to help protect policyholders as thousands of claims remain unresolved more than a year after Hurricane Maria. Gov. Ricardo Rossello signed six laws into effect as he […]
- Mass. Appeals Court Rules Medical Device Maker Illegally Fired Employee
by Elizabeth Blosfield on 2018-11-30 at 09:21A Massachusetts Appeals Court has ruled that Dielectrics, a Massachusetts-based medical device manufacturer, illegally fired Ileana Bermudez after she collected workers’ compensation benefits and filed a lawsuit against the company. The case, Ileana Bermudez vs. Dielectrics, Inc., came about after […]
- Report: Faulty Lion Air Sensor Not Repaired Before Crash
by Harry Suhartono, Alan Levin and Julie Johnsson on 2018-11-30 at 09:09A malfunctioning sensor at the center of the investigation into the Oct. 29 crash of a Lion Air jetliner into the Java Sea wasn’t repaired before the fatal flight even though it had failed on the plane’s previous trip, according […]
- PG&E Didn’t Cut Power Before Fatal California Wildfire
by David R. Baker and Mark Chediak on 2018-11-29 at 09:55In the days before California’s deadliest wildfire erupted near a PG&E Corp. power line during a windstorm, the company kept a close eye on the weather, warned customers it might shut off electricity in the area, and finally decided conditions […]
Property Insurance Coverage Law Blog THE POLICYHOLDER’S ADVOCATE®
- Period of Restoration – Valuing Business Interruption Claims, Part I
by Iris Kuhn on 2018-11-30 at 05:15Business interruption coverage is very valuable to many policyholders in the wake of Hurricane Michael. Florida business owners may seek coverage under their commercial insurance policies for business interruption, which indemnifies them for lost earnings and expenses if their businesses are partially or totally interrupted as a result of Hurricane Michael. Business interruption coverage […]
- Wildfire Considered One Occurrence Despite Damaging Numerous Properties
by Christina Phillips on 2018-11-29 at 05:15A recent decision by the Supreme Court of Wisconsin1 might predict how other courts would analyze coverage under commercial general liability insurance policies for wildfires. In May 2013, a fire broke out on forest land owned by Lyme St. Croix Forest Company. The fire burned nearly 7,500 acres over the course of three days and…… Continue Reading […]
- Bad Faith May Arise Out Of Wrongful Misrepresentation in Application Denial
by Chip Merlin on 2018-11-28 at 05:16Suspicion runs rampant with some insurance companies when it comes to alleged arson. Even if they cannot prove the policyholder had anything to do with a fire, some adjusters cannot help to look for other ways to deny an insurance claim. In Hayes vs. Metropolitan Property and Casualty Insurance Company,1 an insurer was held liable…… Continue Reading […]
- What’s Next? Stop-Gap Flood Insurance Extension Set To Expire On November 30, 2018
by Verne Pedro on 2018-11-27 at 05:15On November 30, 2018, the legislative authority that allows the National Flood Insurance Program (NFIP) to operate, will expire. The NFIP was originally set to expire on September 30, 2017. Since then NFIP has continued under a series of short-term extensions ever since; the current extension was authorized in July 2018. With the deadline fast…… Continue Reading […]
- What Every Policyholder Has To Know About Their Hurricane Michael Loss
by Nicole Vinson on 2018-11-26 at 05:15In the wake of Hurricane Michael, some policyholders are starting to see a response from their insurance companies for their home and business losses. The extent and the magnitude of the damages that Hurricane Michael caused has been captured by some media outlets but down played by others. Many of those dealing directly with the…… Continue Reading […]
- Australia: Property insurance pricing penalises loyal customers
on 2018-11-30 at 22:17The NSW Emergency Services Levy Insurance Monitor, Professor Allan Fels, has revealed that consumers who renew a home and contents insurance policy with their existing insurer are paying more than new policyholders. […]
- China: Non-auto insurance sector – Growth or risk engine?
on 2018-11-30 at 22:17The P&C sector has turned to the non-auto insurance sector this year, following the downturn in the auto insurance sector. In particular, the agriculture and liability insurance segments have boomed this year. However, the expansion and diversification into these new lines of businesses is not without risk, says S&P Global Ratings. […]
- Indonesia: Takaful growth is forecast to be robust in 2019
on 2018-11-30 at 22:17The Islamic insurance industry in Indonesia is expected to expand next year at a double-digit growth rate. This will be due to the increase in the number of new players and a requirement to acquire umrah and hajj travel insurance. […]
- India: Life insurance to be cheaper while health insurance becomes more expensive
on 2018-11-30 at 22:17Buying life insurance is likely to get more affordable, while health insurance could get dearer. Improved life expectancy among the insured population will keep the cost of life cover down, but the cost of health covers is expected to move up because of various court directives asking insurers to cut out exclusions. […]
- South Korea: KB Insurance jumps on Vietnamese wagon
on 2018-11-30 at 22:17KB Insurance is the latest South Korean insurer to plan to invest in Vietnam. It will buy a stake in Vietnam’s third biggest non-life insurance company so as to carve out a niche for itself in the Southeast Asian country’s growing insurance market. […]
- Takaful: London body issues Islamic insurance guidelines to help underwriters
on 2018-11-30 at 22:17The Islamic Insurance Association of London (IIAL) has launched a set of guiding principles covering Shariah-compliant insurance, or takaful, seeking to address capacity constraints in the sector, reports Reuters. […]
- UAE: Marsh receives Abu Dhabi’s 1st captive insurance management licence
on 2018-11-30 at 22:17Global insurance broker Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi. […]
- Marine: International Group of P&I Clubs warns about insurance cover for Iran-related shipping
on 2018-11-30 at 22:17The International Group (IG) of P&I Clubs has warned Club members that there is the potential for there to be significant reinsurance shortfalls, in circumstances where a Club covers a claim with an Iranian nexus, following the re-imposition by the US of sanctions on Iran. […]
Global Risk Insights Political Risk for the 21st century
- India’s Bid for the Nuclear Suppliers Group
by Malvika Singh on 2018-11-29 at 21:54Becoming a member of the exclusive Nuclear Suppliers Group (NSG) would be a major coup Modi as his government heads into general elections in 2019. While most of 48 members have endorsed the Indian bid, China continues to veto India’s ability to join the Group by stating it is not an Non-Proliferation Treaty signatory. The post India’s Bid for the Nuclear Suppliers Group […]
- A true European army is coming
by Louis Cox-Brusseau on 2018-11-27 at 23:48French President Emmanuel Macron’s recent call for the creation of a ‘true European army’ was echoed in dramatic fashion by German chancellor Angela Merkel in mid-November and has brought the debate over a shared European military back into the public eye. This may mark a watershed moment in European politics. The post A true European army is coming appeared first on Global Risk […]
- What to expect from López Obrador’s public consultations
by Tyler Mattiace on 2018-11-27 at 10:09Leftist Mexican President Elect Andrés Manuel López Obrador, who takes office in December, recently held a controversial public consultation to cancel Mexico City’s new multibillion-dollar airport. He is organizing another one over the building of a high-speed railway on the Yucatán Peninsula. Opponents accuse him of using consultations to bypass existing rules and […]
Canadian Underwriter Insurance and Risk News and Analysis. #1 in Canada
- How important is non-insurance talent for MGAs?
by Jason Contant on 2018-11-29 at 21:11Looking outside the insurance industry appears to be a tried-and-true approach to recruiting talent, executives of managing general agents said Tuesday at the Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We’ve had success actually looking for people with skills, rather than… The post How important is non-insurance talent for MGAs? appeared first on Canadian […]
- Will the entire insurance industry soon move to APIs?
by Jason Contant on 2018-11-29 at 21:08Canada’s P&C industry will eventually move to using API (application programming interface) in its entirety, predicts the CEO of a technology company that helps brokers automate their workflows. “I think you’re literally looking at the monolithic system; there’s going to… The post Will the entire insurance industry soon move to APIs? appeared first on Canadian […]
- B.C. brokerage fined $20,000 for flouting rules for entry-level brokers
by David Gambrill on 2018-11-29 at 19:52Park Georgia Insurance Agencies, a full-service brokerage in B.C., has been fined $20,000 for allowing 36 of its Level 1 general insurance agents to sell insurance outside of the brokerage on a full-commission basis and without supervision, contrary to the… The post B.C. brokerage fined $20,000 for flouting rules for entry-level brokers appeared first on Canadian Underwriter. […]
- Auto insurers’ bitter costs dispute draws rebuke from judge
by David Gambrill on 2018-11-29 at 19:48A bitter cost dispute between two auto insurers over an abandoned court action has led to a rebuke from a judge, who ordered Wawanesa to pay Dominion its legal fees. In doing so, Ontario Superior Court Justice Darla A. Wilson… The post Auto insurers’ bitter costs dispute draws rebuke from judge appeared first on Canadian Underwriter. […]
- Two charged in 2016 ransomware attack that hit University of Calgary
by Jason Contant on 2018-11-29 at 19:30CALGARY – The FBI says it has charged two men in Iran as part of an investigation into cyberattacks that targeted the University of Calgary and computer networks in the United States. The university paid a ransom of $20,000 after… The post Two charged in 2016 ransomware attack that hit University of Calgary appeared first on Canadian Underwriter. […]
insuranceNEWS.com.au General insurance and financial services news from Australia and around the world
- Wasted millions: Report slams NSW’s levy backflip
by admin@insurancenews.com.au on 2018-11-30 at 05:30The NSW Government’s last-minute cancellation of reforms to the Emergency Services Levy has been slammed in a parliamentary report released today… […]
- Sydney storm claims climbing, but Queensland firefighters keep losses low
by admin@insurancenews.com.au on 2018-11-30 at 05:27Insurance losses from the torrential rainfall that hit Sydney this week have risen to $13.5 million… […]
- WA parliamentarians want ACCC probe into insurers
by admin@insurancenews.com.au on 2018-11-30 at 05:23A WA parliamentary committee wants the ACCC to look into possible anti-competitive conduct by insurers in the smash repair industry… […]
- QBE creates new role as revamp gathers pace
by admin@insurancenews.com.au on 2018-11-29 at 05:40QBE has announced more changes as part of a recent restructure that resulted in dozens of managerial roles being made redundant… […]
- As Queensland burns, forecasts point to a high-risk summer
by admin@insurancenews.com.au on 2018-11-29 at 03:56Weather experts say the risk of above-normal bushfires persists in large areas of southern Australia as more than 100 fires continue to burn across Queensland… […]
InsureZero Blog All you need to know about Insurance
- 5 Ways Modern Print Technology Can Help Your Business
by David Webb on 2018-11-29 at 16:54In an increasingly digital world, printers are still some of the most important amenities in a workplace. No matter how much you try to move to a paperless business model, printing still has a vital role to play in all of your business processes. Here are five ways modern print technology can help your business. 5 Ways Modern Print Technology Can Help Your Business Author: David WebbInsureZero […]