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Wed, 21 Nov 2018 06:40:22 +0000
A.M. Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Upland Mutual Insurance Inc. in Junction City, Kansas. The outlooks of these …
Wed, 21 Nov 2018 06:00:43 +0000
A U.S. judge overseeing the federal litigation against Bayer AG’s Monsanto unit over glyphosate-based weed-killers allegedly causing cancer on Tuesday selected the first case to be tried in federal court in February 2019. U.S. District Judge Vince Chaa...
Wed, 21 Nov 2018 06:00:32 +0000
Developer Jeff Lamkin knew the risks when he paid $250 million for 63 acres of an island off the Texas coast. But he saw only upside in the quaint little beach town of Port Aransas. Over the next 10 years …
Wed, 21 Nov 2018 06:00:28 +0000
Santander Consumer USA Holdings Inc., a leading subprime auto lender, will pay $11.8 million to settle claims that it misled customers about the cost and terms of auto loans and insurance, a U.S. consumer watchdog said on Tuesday. Santander Consumer, …
Wed, 21 Nov 2018 05:23:21 +0000
A U.S District Court in Florida’s ruling could have wide-reaching effects with respect to an insurer’s duty to defend commercial general liability policyholders in data breach cases resulting from the acts of third parties. The Sept. 28 decision came in …
Wed, 21 Nov 2018 05:06:39 +0000
Gallagher Affinity and Secure CyberID, a provider of cybersecurity services, have launched an online, discounted suite of cybersecurity products for small to mid-sized companies under contract with the federal government. The 360 Coverage Pros portal i...
Tue, 20 Nov 2018 23:11:59 +0000
Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to a daily briefing from A.M. Best. It was recently determined that a second power line of PG&E Corp. …
Tue, 20 Nov 2018 18:43:43 +0000
Alera Group has acquired Orion Risk Management Insurance Services. Terms of the deal were not disclosed. Orion is a commercial insurance broker and risk management firm with three locations throughout Southern California. Deerfield, Ill.-based Alera Gr...
Tue, 20 Nov 2018 18:32:31 +0000
USG Holdings Inc. has named Ali Gray a producer/broker in the Irvine, Calif. branch. Gray will continue to build his book of business and assist with the expansion of USG’s West Coast footprint. He has 9 years of experience in …
Tue, 20 Nov 2018 17:36:58 +0000
Minnesota’s Department of Labor and Industry (DLI) in early November reported that the state’s estimated workplace injury and illness rate for 2017 is the lowest rate since the measurement started in 1973. According to the annual Survey of Occupational...
Tue, 20 Nov 2018 17:35:34 +0000
The Bank of England turned up the pressure on the European Union to deliver legislation within weeks to avert a breakdown of access to London’s crucial financial infrastructure in a no-deal Brexit. “By early to mid-December, there would have to …
Tue, 20 Nov 2018 17:16:25 +0000
Willis Towers Watson announced that James McCann will be succeeded as chairman of the board by Victor Ganzi, effective Jan. 1, 2019. McCann will step down as chairman three years after the merger of Willis and Towers Watson. He will …
Tue, 20 Nov 2018 17:13:51 +0000
The Surplus Lines Stamping Office of Texas (SLTX) plans to launch “SMART,” its new online filing system in 2019. SLTX unveiled the new online system in a video presentation at the Texas Surplus Lines Association 2018 Annual Meeting in Austin …
Tue, 20 Nov 2018 17:11:10 +0000
A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Wisconsin Mutual Insurance Co. (Wisconsin Mutual) in Madison, Wisconsin. The outlook of these ratings h...
Tue, 20 Nov 2018 17:08:34 +0000
PG&E Corp.’s $1.4 billion in wildfire insurance may not be enough to cover all its potential liabilities from the deadliest blaze in California history. But the company wasn’t necessarily skimping on coverage. That level of coverage is a “regular amoun...
Tue, 20 Nov 2018 17:02:04 +0000
A bill that would help PG&E Corp. absorb liabilities from this year’s fatal wildfires in California is being drafted at the request of a state assemblyman who helped shepherd earlier legislation on the issue. Kellie Smith, an adviser to assemblyman …
Tue, 20 Nov 2018 16:53:52 +0000
A New Braunfels, Texas, woman must perform community service and pay more than $7,000 in restitution after being sentenced on workers’ compensation fraud charges. Texas Mutual Insurance Co. reported that Carolina Villanueva was sentenced in a Travis Co...
Tue, 20 Nov 2018 16:25:25 +0000
Cincinnati, Ohio-based American Financial Group Inc. (AFG) has hired Anthony W. Dunn as vice president, overseeing the internal audit function for the company and its subsidiaries. Dunn has 20 years of experience in the insurance and financial services...
Tue, 20 Nov 2018 16:21:07 +0000
Reliance Partners, which specializes in commercial insurance, has added Brandon Richards as chief sales officer and opened a new office in Austin, Texas. Richards is a veteran insurance professional with more than 17 years in the commercial transportat...
Tue, 20 Nov 2018 15:23:18 +0000
The London market’s electronic placing platform, PPL Ltd., exceeded targets during the third quarter as more and more syndicates and companies accepted risks via the platform. Beazley Syndicate 3623 topped the league table of those Lloyd’s syndicates t...
Tue, 20 Nov 2018 15:16:39 +0000
RT Specialty/New Day, a Hamilton, N.J.-based division of R-T Specialty LLC, has named Joe Reynolds as an assistant vice president in the National Environmental and Construction Professional Liability Practice (formerly New Day Underwriting Managers). I...
Tue, 20 Nov 2018 15:06:18 +0000
Frenkel & Company – an EPIC Company has hired risk management and insurance professional Tandis Nili to join its operations in New York as senior vice president and leader of the Global Services Division. Nili is based in Frenkel’s New …
Tue, 20 Nov 2018 14:39:24 +0000
The first two recreational marijuana stores in Massachusetts opened at the same exact time this week. A spokeswoman for Cultivate in Leicester said Saturday the store planned to move up its regular 10 a.m. start time to 8 a.m. on …
Tue, 20 Nov 2018 14:31:27 +0000
Ryan Insurance & Financial, a DeLand, Fla.-based independent insurance firm, has merged with S.S. Nesbitt Insurance, located in Clermont, Fla. The merger was finalized on October 1, 2018. Headquartered in Birmingham, Ala., with locations throughout the...
Tue, 20 Nov 2018 14:21:41 +0000
Ascot has named environmental insurance veteran John O’Brien as executive vice president and head of Environmental. O’Brien will be responsible for launching an environmental liabilities and related specialty product business unit accessing both the ad...
Tue, 20 Nov 2018 14:08:28 +0000
The U.S. Army Corps of Engineers is looking at solutions to the persistent problem of flooding in Jefferson County near downtown Birmingham, Ala. WBMA-TV reports that a three-year study by the agency will look at multiple options. County Commission Pre...
Tue, 20 Nov 2018 14:02:18 +0000
CVS Health Corp. said on Tuesday that it expects to close its $69 billion purchase of health insurer Aetna Inc. after the Thanksgiving holiday. The pharmacy chain and benefits manager had previously expected the transaction to close by Nov. 22. …
Tue, 20 Nov 2018 13:56:49 +0000
Barclays Plc is not liable to investors who bought its U.S.-listed stock a few months before the 2008 financial crisis and accused the British bank of hiding its risky debt exposure and a capital shortfall, a U.S. court ruled on …
Tue, 20 Nov 2018 13:00:33 +0000
The Hartford has appointed Christopher Lowell to lead its Small Business Innovation Lab, which will design and test new products and business models to meet the needs of The Hartford’s small business customers. “The lab is part of the company’s …
Tue, 20 Nov 2018 12:17:03 +0000
Finnish software maker Basware confirmed the unsolicited takeover approach it received was from payment-technology startup Tradeshift Holdings Inc. The indicative proposal came from San Francisco-based Tradeshift, Basware said in a statement Tuesday in...