Insurance Journal


The latest articles and news from Insurance Journal

  • Pioneer Underwriters Gets Lloyd’s Approval to Launch Syndicate 1980 on Jan. 1 December 14, 2017 4:41 pm
    Pioneer Underwriters announced it has received approval from Lloyd’s for Syndicate 1980 to commence underwriting business attaching on or after Jan. 1, 2018. Pioneer Syndicate 1980 will have a gross premium income of £278 million ($371.2 million) and will underwrite …
  • Wells Fargo Sued by Navajo Nation for Alleged Predatory Tactics December 14, 2017 4:16 pm
    The Navajo Nation announced that it’s suing Wells Fargo for allegedly engaging in predatory and unlawful banking practices that targeted and harmed tribal members. In a statement, Navajo Nation President Russell Begaye said the tribe’s lawyer has been directed to …
  • Cheech of Cheech & Chong Heralds New Tool for California Pot Businesses December 14, 2017 4:13 pm
    Comedian and legendary stoner Cheech Marin doesn’t want your pot business to go up in smoke. That’s why he’s in a new public service announcement publicizing a California Secretary of State website for budding marijuana entrepreneurs. California on Friday began …
  • Startups Selected for Inaugural InsurTech Acceleration Program in Hartford December 14, 2017 4:12 pm
    Hartford InsurTech Hub, an initiative established in 2017 by Hartford, Conn.-based insurance companies, the city of Hartford and CTNext, has selected the 2018 group of 11 startups that will participate in its inaugural acceleration program, The InsurTech Accelerator. Hartford InsurTech …
    Elizabeth Blosfield
  • A.M. Best Revises Outlooks to Negative for Crusader Insurance in California December 14, 2017 4:08 pm
    A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Crusader Insurance Co. Additionally, A.M. Best has revised the outlook to negative …
  • Munich Re to Increase Shareholding in Global Aerospace to 51% December 14, 2017 3:12 pm
    Global Aerospace, the London-based provider of aerospace insurance, announced that Munich Re has agreed to purchase an additional 11 percent of the shares in Global Aerospace Underwriting Managers Ltd., the company that manages the Global Aerospace Pool. Following the acquisition, …
  • Allianz Global Corporate & Specialty Promotes Haagen and Soja December 14, 2017 2:49 pm
    Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), has announced that effective December 31, Henning Haagen will take over as North American regional head of specialty lines, and Rich Soja will become the North American regional head …
  • Here’s What’s in Latest Negotiated Republican Tax Bill December 14, 2017 2:26 pm
    Republicans in the U.S. Congress reached a deal on final tax legislation on Wednesday, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. Formal …
  • Female Workers in Massachusetts Sue McCormick & Schmick’s December 14, 2017 2:14 pm
    Female kitchen workers at the McCormick & Schmick’s seafood restaurant in downtown Boston were subjected to constant groping and lewd comments from male supervisors and co-workers, and their complaints to the company were routinely ignored, five women said in a …
    Philip Marcelo
  • Allianz Specialty for North America Promotes Haagen, Soja as Barnwell Retires December 14, 2017 2:09 pm
    Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) announced that effective December 31, Henning Haagen will take over as North American regional head of Specialty Lines, and Rich Soja will become the North American regional head of …
  • New York’s Greene & Associates Hires Del Priore as Sales Manager December 14, 2017 1:55 pm
    Greene & Associates, an East Aurora, N.Y.-based underwriting manager and wholesale broker, has hired Theresa Del Priore as a sales manager. Del Priore comes to Greene with more than 30 years of experience in the insurance industry, most recently serving …
  • Judge Nixes Bid to Halt Federal Charters for Fintech Firms as Premature December 14, 2017 1:42 pm
    A Manhattan federal judge on Tuesday dismissed a lawsuit brought by New York’s banking regulator against the U.S. Comptroller of the Currency (OCC) over its proposal to offer charters that would let online lenders and other so-called “fintech” companies do …
    Karen Freifeld
  • United Nations Assessing Disaster Recovery in Puerto Rico December 14, 2017 1:37 pm
    A United Nations expert on extreme poverty and human rights met Monday with hurricane victims in Puerto Rico as complaints grow about the U.S. government’s response to a Category 4 storm. U.N. envoy Philip Alston toured one of the hardest …
    Danica Coto
  • Gibraltar Introduces License for Fintech Firms Using Blockchain December 14, 2017 12:44 pm
    Gibraltar’s financial services watchdog will introduce the world’s first bespoke license for “fintech” firms using blockchain distributed ledger technology (DLT) from next month in a bid to attract start-ups to the British overseas territory as it prepares for Brexit. The …
    Huw Jones
  • Chubb Names French & Hill to Asia-Pacific Leadership Positions December 14, 2017 11:35 am
    Chubb announced two leadership appointments in the company’s Asia Pacific business. John French, currently country president for Australia and New Zealand, has been appointed to the position of senior vice president, head of Broker Distribution for Asia Pacific. At the …
  • Scientists Blame Extreme Weather, Heat on Man-Made Climate Change December 14, 2017 10:58 am
    Some of last year’s crazy weather — including extreme heat around the world to unusually warm waters in the Bering Sea — can be blamed on man-made climate change, according to a report from a group of weather researchers. Scientists …
    Jim Efstathiou Jr.
  • London Police Eye Criminal Charges Related to Grenfell Tower Disaster December 14, 2017 10:45 am
    London police are considering a variety of criminal charges related to the June fire at Grenfell Tower that killed 71 people. Police told an inquiry Monday [Dec. 11] that the possible charges include misconduct in public office, manslaughter, corporate manslaughter …
  • Arrowhead Expands Its New Small Business Underwriting Staff December 14, 2017 8:00 am
    San Diego, CA, December 14, 2017 – Arrowhead General Insurance Agency, Inc. (Arrowhead) has announced the addition of Alan Nelson as West region leader of Arrowhead Core Commercial. Al comes to Arrowhead with over 30 years of underwriting experience and …
    Newswire
  • 5 Ex-NFL Players, Executive Suspended by Networks Over Sexual Harassment Allegations December 14, 2017 6:00 am
    The NFL Network, ESPN and Bill Simmons’ The Ringer have suspended five on-air commentators and a senior executive after allegations of sexual harassment by a former co-worker. The former football players, including Hall of Fame running back Marshall Faulk, Heath …
    Jordyn Holman and Scott Soshnick
  • Investor Sues Uber Directors Over $680M Acquisition of Autonomous Car Firm December 14, 2017 6:00 am
    Uber Technologies Inc. directors were accused of failing to properly review the ride-sharing company’s $680 million acquisition of a self-driving technology firm that wound up being accused of stealing trade secrets from a unit of Alphabet Inc. Uber’s board recklessly …
    Jef Feeley
  • Hotels Facing Increased Scrutiny Over Employees’ Safety December 14, 2017 6:00 am
    One guest at the Westin Hotel in downtown Seattle opened his door naked and urged housekeeper Ely Dar to come in. Another offered her money in exchange for a massage. A guest once told her she was beautiful, then grabbed …
    Josh Eidelson
  • Starr Offers Drone Coverage to Academy of Model Aeronautics Members December 14, 2017 5:51 am
    Starr Companies have formed an agreement with the Academy of Model Aeronautics (AMA) to offer its members insurance coverage for the commercial use of unmanned aircraft systems (UAS), also known as drones. Coverage includes personal injury up to $250,000 each …
  • 3 Fraternities at University of North Carolina Suspended for Hazing December 14, 2017 5:48 am
    Three fraternities at a University of North Carolina campus have been suspended for hazing and other infractions. The Charlotte Observer reports that the UNC Charlotte’s Office of Student Conduct says Delta Chi, Lambda Chi Alpha and Phi Sigma Kappa have …
  • Smith to Join Prime Risk Partners in Atlanta as Chief Operating Officer December 14, 2017 5:41 am
    Prime Risk Partners announced that Robert C. Smith has joined the company as executive vice president and chief operating officer. Smith’s career has focused on agency operations consulting and mergers and acquisitions. As a senior consultant and shareholder with Reagan …
  • Greenbrier Hotel Corp Sued by Tennessee Rental Co Over $623K Insurance Payout December 14, 2017 5:15 am
    A Tennessee company has filed a lawsuit against The Greenbrier Hotel Corporation in West Virginia and two affiliated companies, citing The Greenbrier resort’s failure to pay out on damaged rental equipment. The Charleston Gazette-Mail reported Sunday that Special Event Service …
  • Florida Professor Fired for Saying Sandy Hook a Hoax in Blog Loses Lawsuit December 14, 2017 5:01 am
    A Florida college professor fired after publicly saying the Sandy Hook school shooting in Connecticut was a hoax has lost a lawsuit claiming he was wrongfully terminated. Local news outlets report that a federal jury on Monday sided with Florida …
  • Cavignac & Associates in California Names Lopez Account Administrator December 14, 2017 12:42 am
    San Diego, Calif.-based Cavignac & Associates has named Linda Lopez account administrator of its employee benefits department. Lopez will assist the employee benefits department account manager with the daily service activities for client benefit offerings. Lopez was previously the underwriting …
  • Traces of GenX Compound Found in North Carolina Food Product December 13, 2017 5:54 pm
    The unregulated compound found in more than 80 drinking water wells near a chemical company’s manufacturing facility in North Carolina has been found in a food product for the first time. Tests found honey collected by a farmer about 2 …
  • Sommer Named Interim Executive Director at Oklahoma WCC as Bailey Departs December 13, 2017 5:46 pm
    The Oklahoma Workers’ Compensation Commission (WCC) announced that Executive Director Kim Bailey has resigned and Administrative Law Judge Patricia Sommer has been appointed to lead the agency in the interim. Bailey will be leaving her position to accept a critical …
  • Attorneys, Not Adjusters, Handle Claims at Texas Medical Malpractice Insurer, Capson December 13, 2017 5:38 pm
    Austin, Texas-based Capson Physicians Insurance Co. announced it is providing in-house attorneys, rather than adjusters, to help facilitate claims for insureds. According to Capson Physicians Insurance President and Founder Maury Magids, when a medical malpractice claim is made against a …
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