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Updated: 18 hours 4 min ago

2 Northern California Cities Are Suing Big Oil Firms Over Climate Change

Thu, 09/21/2017 - 10:29
California cities San Francisco and Oakland filed separate lawsuits against five oil companies on Wednesday seeking billions of dollars to protect against rising sea levels they blamed on climate change, according to public documents. The lawsuits, filed in state courts …

Liberty Specialty Markets Appoints Hobbs, Winkel, Short & Smith to Senior Roles

Thu, 09/21/2017 - 10:09
London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has announced the appointment of four senior roles (subject to regulatory approval). Phil Hobbs has been named deputy managing director. Hobbs previously was chief actuary. Dieter Winkel has been named …

Insurance Industry Foundation Opens Charity Fund for Hurricane Irma Victims

Thu, 09/21/2017 - 09:55
The Insurance Industry Charitable Foundation (IICF), a nonprofit organization for insurance industry charitable giving, has launched a new disaster relief fund to assist the millions affected by the catastrophic damage of Hurricane Irma. IICF says the need for assistance is …

Former New York Insurance Broker Sentenced to Prison for $1.8M Scheme

Thu, 09/21/2017 - 09:54
A former insurance broker in Long Island, N.Y., who pleaded guilty to grand larceny and fraud has been sentenced to serve three to nine years in prison. Suffolk County District Attorney Thomas Spota said Tuesday that 44-year-old Kimberly Graziano, of …

Unlicensed Health Insurance Companies Targeting Delaware Seniors

Thu, 09/21/2017 - 09:50
Senior citizens are being warned to be on the lookout for unlicensed health insurance companies in Delaware. The companies have been marketing and selling plans to residents of long-term care and nursing home facilities in Delaware and other states, according …

JLT Specialty USA Appoints Cornish as Director Based in New York City

Thu, 09/21/2017 - 09:47
JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), has announced the appointment of Keith Cornish as director based in New York City. The appointment is part of JLT’s continued investment into construction specialty, further supporting …

Defamation Suit Over Rolling Stone Article Is Revived on Appeal

Thu, 09/21/2017 - 09:16
A defamation lawsuit suit against Rolling Stone magazine over its retracted 2014 article about an alleged gang rape at the University of Virginia was partially revived by a federal appeals court in New York. The lower-court judge was wrong to …

Zurich North America CEO Foley Leaving; Savio Named Successor

Thu, 09/21/2017 - 09:00
Zurich North America CEO Mike Foley plans to leave his position at the end of 2017 after more than a decade with the Swiss insurance giant. His successor has already been chosen. She is Kathleen Savio, who has been president …

East Coast Watching Effect of ‘Zombie’ Storm Jose on Maria’s Path

Thu, 09/21/2017 - 08:36
Hurricane Maria continued its thunderous roll northward as forecasters struggled to pin down a trajectory. Whether the storm makes landfall again could be determined by a zombie. That’s what former Hurricane Jose will soon be in the meteorological vernacular, a …

In New Approach, Zenefits to Offer Benefits Software to Insurance Brokers

Thu, 09/21/2017 - 08:24
Zenefits, the software startup that has faced a number of regulatory penalties, said on Thursday it is changing its business to provide software to insurance brokers. This marks the latest attempt by Zenefits to regain its footing after it was …

PartnerRe Forms Partnership with Fintech Money Transfer Specialist, RemitRadar

Thu, 09/21/2017 - 08:13
PartnerRe has entered into a strategic cooperation agreement with RemitRadar, a London-based money transfer specialist. PartnerRe and RemitRadar said they have formed this agreement “to capitalize on RemitRadar’s money transfer ecosystem, web presence and social media channels, including AI [artificial …

Global Reinsurers Face Exposures to Mexico City Earthquake: Morgan Stanley

Thu, 09/21/2017 - 07:30
Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling of a number …

Talanx Warns 2017 Profits Could Be Hit by Hannover Re’s Catastrophe Claims

Thu, 09/21/2017 - 06:38
German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer, Hannover Re, is being hit by major claims from a series of hurricanes and an earthquake in Mexico. Reinsurers face big losses from Hurricanes Harvey …

High Levels of Mold, Carbon Dioxide Close West Virginia High School

Thu, 09/21/2017 - 00:43
A West Virginia high school will close for the rest of the week after high levels of mold and carbon dioxide were found inside nearly a third of its buildings. News outlets report Capital High School in Charleston announced Monday …

Fitch: Hurricane Irma Losses Substantial, But Won’t Weaken Insurer Ratings

Thu, 09/21/2017 - 00:36
Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will represent a substantial near-term earnings …

Prospect General, Fortegra Launch Tenant Legal Liability Program

Thu, 09/21/2017 - 00:20
Prospect General Insurance Agency has partnered with Fortegra Financial Corporation, a Tiptree Financial, Inc. company to offer an admitted tenant legal liability program that allows landlords to protect properties from tenant caused damage. The program targets apartment buildings with five …

Hurricane Maria Carves Path of Destruction Through Puerto Rico

Wed, 09/20/2017 - 20:20
Hurricane Maria, the strongest storm to strike Puerto Rico in nearly 90 years, carved a path of destruction through the U.S. territory on Wednesday, causing widespread flooding and knocking power out across the island after killing at least nine people …

XL Catlin Adds EPLI, Cyber Coverage for Design Professionals in Canada

Wed, 09/20/2017 - 12:55
XL Catlin has added two optional coverages to its professional liability insurance for architects, engineers and other design businesses in Canada: employment practices liability (EPL) Insurance and cyber insurance coverage. The optional EPL coverage is designed to help architects, engineers …

Georgia Gov Pledges State Funds for Local Community Irma Cleanup

Wed, 09/20/2017 - 12:48
Describing Hurricane Irma as a “catastrophic event” after viewing its destruction from the air, Gov. Nathan Deal promised last week that the state will pay local governments’ share for cleaning up storm debris along the Georgia coast. Deal got a …

After the Storm: Insurance Agents E&O Lessons Learned

Wed, 09/20/2017 - 11:30
Editor’s Note: This is a republication of a January, 2013 article by Sally Coombs, who was then with Fireman’s Fund Insurance Co, which is now integrated into Allianz Global Corporate & Specialty (AGCS). Also, Insurance Journal’s Academy of Insurance will …

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