Insurance Journal


The latest articles and news from Insurance Journal

  • MGM Files Suit to Limit Liability for Las Vegas Shooting July 18, 2018 5:00 am
    MGM Resorts International sued the victims of a Las Vegas music festival mass shooting in an effort to block any potential compensation claims against it. The owner of the Mandalay Bay hotel claims a 2002 federal statute wipes out liability …
    Andrew G. Simpson
  • U.S. Labor Judge Nixes McDonald’s Deal to Avoid Joint Employer Tag July 18, 2018 5:00 am
    A judge with a U.S. labor agency on Tuesday rejected McDonald’s Corp.’s proposed settlement of a major case on whether the fast-food company is accountable for alleged labor law violations by franchisees across the country. The settlement proposed in March …
    Daniel Wiessner
  • Ford to Pay Consumers $299 Million to Settle Takata Airbag Lawsuit July 18, 2018 5:00 am
    Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls. The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners …
    Margaret Cronin Fisk
  • Washington Asbestos Removal Company Fined $229K for Unsafe Conditions July 17, 2018 6:32 pm
    An Edmonds, Wash.-based asbestos removal contractor has been cited by the Washington Department of Labor & Industries for multiple willful safety violations for improper handling of asbestos. Along with the citations, the company faces fines totaling $229,700. L&I has cited …
  • Mueller Industries Settles Disability Discrimination Suit in California for $1M July 17, 2018 6:26 pm
    The U.S. Equal Employment Opportunity Commission has settled a disability discrimination lawsuit in California against a global metal goods manufacturer Mueller Industries Inc. for $1 million and other injunctive relief. According to the EEOC, Memphis, Tenn.-based Mueller violated federal law …
  • Oklahoma City Spending to Improve Traffic Issues, Prepping for Self-Driving Cars July 17, 2018 6:18 pm
    A city in central Oklahoma is spending millions of dollars preparing for self-driving cars while working to alleviate traffic problems. Edmond Traffic Engineer Tom Minnick told The Oklahoman that the city is laying down infrastructure for autonomous vehicles. The $5 …
  • Loss Estimate for Europe’s Storm Friederike (aka DAVID) Rises to €1.7B ($2.0B): PERILS July 17, 2018 4:46 pm
    The third insured loss estimate for extratropical Cyclone Friederike, also known as “David,” has risen to €1.675 billion ($2.0 billion), according to PERILS, the independent Zurich-based organisation that provides industry-wide catastrophe insurance data. PERILS’ third estimate of the insured property …
  • QBE, AmWINS Launch E&O Coverage for Architects, Engineers, Design Businesses July 17, 2018 4:13 pm
    QBE North America has formed a partnership with AmWINS Program Underwriters (APU) to offer errors and omissions coverage for architects, engineers and design (A&E) businesses. The launch is part of QBE’s initiative to expand its specialized portfolio. APU’s A&E program …
  • Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing July 17, 2018 3:56 pm
    For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. …
    Andrew G. Simpson
  • Baylor in Texas Settles Suit with Woman Who Accused Players of Rape July 17, 2018 3:07 pm
    Baylor University has settled a federal Title IX lawsuit brought by a former volleyball player who alleged that she was drugged and gang raped by at least four football players in 2012. Terms of last week’s settlement with the woman, …
  • Feds Investigating Crane Vs. Power Line Worker Death at Ohio Home July 17, 2018 3:05 pm
    The federal worker safety agency is investigating the death of a man in southwest Ohio who was electrocuted when a crane touched a power line at a home under construction. WLWT-TV reports the accident occurred last week in Butler County’s …
  • Passenger Bus Crash in New Mexico Kills 3, Injures 24 July 17, 2018 2:39 pm
    A crash involving a commercial passenger bus and three other vehicles on a New Mexico highway early Sunday killed three people and injured 24 others, some critically, authorities said. One of the people killed was in a car that struck …
  • The Dentists Insurance Co. in California Names Spinelli CEO July 17, 2018 2:35 pm
    The boards of directors for the Sacramento, Calif.-based Dentists Insurance Co., Northwest Dentists Insurance Co. and Dentists Benefits Insurance Co. have named Bob Spinelli president and CEO. In addition to leading all operations at TDIC, DBIC and NORDIC, Spinelli will …
  • RMS Strengthens Asia-Pacific Capabilities in Version 18 of Modeling Software July 17, 2018 2:22 pm
    RMS, the Newark, Calif.-based risk modeling and analytics firm, announced it has strengthened the Asia Pacific capabilities of its Version 18 catastrophe risk management software. The Asia Pacific model suit is being expanded to include new peril models for India …
  • Business Council Touts Workers’ Comp Savings in New York July 17, 2018 1:29 pm
    The Business Council of New York State Inc. has touted the newly approved 11.7 percent reduction in loss cost rates, which are the basis for setting workers’ compensation premiums for 2019, as being significant toward workers’ compensation savings for most …
  • Chubb Hires Everest’s Watt to Lead North America Claims July 17, 2018 1:24 pm
    Chubb has appointed Megan Watt, as executive vice president, head of North America Claims. In this role, she will lead all aspects of Chubb North America claims management, service and administration for the commercial and personal insurance businesses. Watt has …
  • KBW Hires Sarkar to Its Insurance Investment Banking Group in New York July 17, 2018 1:19 pm
    Keefe, Bruyette & Woods Inc. (KBW), a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector and a wholly owned subsidiary of Stifel Financial Corp., has hired Rajib Sarkar as managing director in its Insurance Investment …
  • Supreme Court Nominee Kavanaugh Seen as Business Friend, Regulation Skeptic July 17, 2018 1:14 pm
    Brett Kavanaugh could add a powerful new voice on the Supreme Court to restrain what government agencies can do, ushering in a new era of tougher scrutiny of federal regulations loathed by businesses. In a dozen years on the U.S. …
    Jennifer A. Dlouhy, Todd Shields, Christopher Flavelle and Greg Stohr
  • Connecticut’s CMIC Hires Cronin as Director of Underwriting July 17, 2018 12:59 pm
    CMIC, a Glastonbury, Conn.-based, member-owned medical professional liability insurance company, has hired Garrett P. Cronin to the CMIC Group team as the director of underwriting. Prior to joining CMIC, Cronin worked for Chubb Corporation as a national underwriting manager within …
  • Travelers: Use Current Auto Insurance Model for Autonomous Future July 17, 2018 12:53 pm
    Auto insurance should continue to be the primary compensation model for accident victims as the driving population transitions to and then fully adopts autonomous vehicles, according to the insurer that issued the nation’s first auto liability policy in 1897. “This …
  • Munich Re CFO Schneider to Retire, Succeeded by ERGO’s Jurecka July 17, 2018 12:22 pm
    Munich Re’s Chief Financial Officer Jörg Schneider, who turns 60 this year, will retire from the Munich Re board of management at his own request on Dec. 31, 2018. The Supervisory Board of Munich Re has appointed Christoph Jurecka as …
  • Industry Needs to ‘Question and Call Out’ Rogue MGAs, Says Chilton of Gallagher July 17, 2018 10:11 am
    While there’s a bright future for managing general agents that “get it right,” Grahame Chilton, CEO of Gallagher UK, warns against tolerating the few rogue MGAs who could ruin the reputation of the entire sector. Chilton, who will be stepping …
    L.S. Howard
  • Health Officials Investigating Tennessee Zipline Sickness Outbreak July 17, 2018 5:02 am
    The Tennessee Department of Health says its investigation continues into gastrointestinal illness that affected more than 500 people who visited a zipline attraction. Officials have said E. coli bacteria caused the sickness, but the Health Department said Thursday that some …
  • CFA Institute Adds Cryptocurrency, Blockchain to Curriculum July 17, 2018 5:00 am
    It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II …
    Kevin Michael Patterson and Andrea Tan
  • FDA Cites Drug Warning Scam Over Online Medications July 17, 2018 5:00 am
    People who tried to order medicine online or over the phone have received fake U.S. Food and Drug Administration warning letters instead of the products they bought, in what appears to be an international extortion scam, the agency said on …
    Aziza Kasumov
  • 5 Southeast States Participate in Speed Enforcement Operation July 17, 2018 4:46 am
    Georgia joins Alabama and three other states in a week-long speed enforcement operation beginning Monday. “Operation Southern Shield” will run through Sunday, July 22. Law enforcement in Georgia and Alabama will join Florida, Tennessee and South Carolina in pulling over …
  • J.M. Wilson Adds Silverman as Assistant Transportation Underwriter in South Carolina July 17, 2018 4:04 am
    J.M. Wilson has added Cassandra Silverman as assistant transportation underwriter to its North Charleston, S.C., office. Silverman is responsible for quoting new and renewal business, corresponding with carrier underwriters, and assisting independent agents in Georgia, North Carolina, South Carolina and …
  • The Lowdown: 10,000,000 Patents in 228 years July 17, 2018 4:00 am
    On June 19, 2018, the US Patent and Trademark Office (USPTO) announced the issuance of patent number 10,000,000. “More than just a number, patent 10 million celebrates the rich history and strength of the American intellectual property system dating back …
  • Arthur J. Gallagher Acquires The Jack Nebel Companies in Illinois July 16, 2018 9:19 pm
    Arthur J. Gallagher & Co. has acquired North Barrington, Ill.-based The Jack Nebel Companies Inc. Terms of the deal were not disclosed. Jack Nebel, Brian Nebel and their associates will continue to operate from their current location under the direction …
  • Workers’ Comp ‘Disruptor’ Launching in California for Injured Farm Employees July 16, 2018 8:55 pm
    An insurtech startup says it will disrupt California’s workers’ compensation system with “technology-enabled triage and care coordination” for California Farm Management. ChronWell, a mobile platform for the workers’ comp industry, announced on Monday that it will launch its pilot program …
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