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Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Updated: 18 hours 6 min ago

Landlord Settles Lawsuit Over Deadly Ohio House Fire for $360K

Wed, 09/20/2017 - 11:16
The owner of an Ohio home where a fire killed two adults and two girls is settling a lawsuit claiming she’s liable because the rental property lacked smoke detectors. Cleveland.com reports owner Joni Laidig and her insurer agreed to pay …

Small Earthquake in Illinois Felt in 3 States

Wed, 09/20/2017 - 11:12
The U.S. Geological Survey reports that a small earthquake in southeastern Illinois was felt across parts of Illinois, Indiana and Kentucky. The USGS says the preliminary 3.8-magnitude earthquake occurred at 6:47 a.m. Central Time on Sept. 19 about 7 1/2 …

FEMA Not Relying on Trailers to House Hurricane Victims

Wed, 09/20/2017 - 11:12
The hurricanes that battered Texas and Florida have likely spawned the worst disaster-created housing crisis since Hurricane Katrina left hundreds of thousands of Gulf Coast residents without homes more than a decade ago. The Federal Emergency Management Agency said it’s …

Zebra Online Insurance Agency Gets $40M from Investors and New CEO from Kayak

Wed, 09/20/2017 - 10:21
The Zebra, an online auto insurance comparison marketplace, plans to use $40 million in new venture funding to double down on brand building, product expansion and customer outreach. Company co-founder and Chief Operating Officer Joshua Dziabiak told Carrier Management via …

24 Indicted in Staged Crash Case in Vegas Involving $500K in Claims

Wed, 09/20/2017 - 10:16
Nevada’s top state prosecutor says 24 people have been indicted in a scheme alleging they staged car crashes and filed about $500,000 worth of fraudulent insurance claims in Las Vegas. Attorney General Adam Laxalt said the 68-count indictment filed last …

Small Quake in Los Angeles Had Southern Californians Lighting up Twitter

Wed, 09/20/2017 - 10:13
A small earthquake with an epicenter just outside Los Angeles had people in Southern California talking on social media. The U.S. Geological Survey confirmed a magnitude-3.6 quake hit at about 11:20 Monday night. Its epicenter was about 3.6 miles northwest …

A.M. Best Warns on Hurricane Maria Impact on Caribbean/Puerto Rican Insurers

Wed, 09/20/2017 - 10:09
Many insurers and reinsurers in the Caribbean and in Puerto Rico will be tested as they brace for Hurricane Maria, the second hurricane to hit the region in two weeks, according to ratings agency A.M. Best. Hurricane Maria could be …

New York State Prepares Long Island for Hurricane Jose’s Impact

Wed, 09/20/2017 - 09:48
New York state officials have deployed members of the National Guard and specialized emergency response units to Long Island to prepare for potentially severe weather caused by Hurricane Jose. Gov. Andrew Cuomo says 100 members of the National Guard, 13 …

Kansas Banker Sentenced to Prison for Defrauding Bank, Insurance Company

Wed, 09/20/2017 - 09:47
Prosecutors say a former Kansas banker has been sentenced to prison eight months in prison for a wire fraud scheme that included the theft of funds from Labette Bank and its insurance company subsidiary, as well as filing false tax …

MarketScout Hires U.S. Risk’s Vincent as VP in Houston

Wed, 09/20/2017 - 09:45
MarketScout, the Dallas, Texas based insurance exchange and specialty MGA, has expanded its Professional Liability Division with the addition of Michele Vincent as vice president, healthcare practice leader. Vincent joins the professional liability practice with more than 20 years of …

Former New Jersey Postal Worker Went Zip-Lining While on Disability

Wed, 09/20/2017 - 09:43
A former postal worker who had claimed a wrist injury prevented him from working posted photos of himself zip-lining and rappelling, state authorities said Monday as they announced insurance fraud and theft charges. Robert McGeehan, of Lower Township, N.J., is …

2 New Insurers Approved to Do Business in Arkansas

Wed, 09/20/2017 - 09:41
Arkansas Insurance Commissioner Allen Kerr has approved two new companies to begin conducting insurance business in his state. Kerr granted a Certificate of Authority to Security First Insurance Co. (SFIC) of Ormond Beach, Fla., to sell property/casualty products in Arkansas …

Papadopoulo to Succeed McElroy as CEO of Arch Worldwide Group; Rajeh Moves to CEO Worldwide Reinsurance

Wed, 09/20/2017 - 09:39
Arch Capital Group Ltd. announced that Nicolas Papadopoulo will become chairman and CEO of Arch Worldwide Insurance Group and chief underwriting pfficer for Property & Casualty operations. Papadopoulo, who joined Arch in 2001 and currently serves as chairman and CEO …

IIABNY Appoints Lounsbury as Permanent President and CEO

Wed, 09/20/2017 - 09:33
The Independent Insurance Agents & Brokers of New York (IIABNY) has announced that Lisa K. Lounsbury has been appointed as the organization’s permanent president and chief executive officer. She has been acting on an interim basis in that role since …

Company in Fatal Queens Bus Crash Has Been Cited for Safety

Wed, 09/20/2017 - 09:19
The tour bus company involved in a crash with a city bus that killed three in New York City has been cited for several safety violations and was involved last year in another deadly collision, according to federal regulators. The …

XL Group Picks Dublin for Post-Brexit EU Headquarters

Wed, 09/20/2017 - 09:02
XL Group is the latest property/casualty insurer to make plans to move its European insurance company headquarters from the United Kingdom in response to its vote to leave the European Union. The insurer and reinsurer (parent company of XL Catlin) …

Most Produce Farmers Hit by Recent Hurricanes Not Covered by Federal Crop Insurance

Wed, 09/20/2017 - 08:42
In the U.S, government-backed insurance plans help compensate farmers for losses after natural disasters. Unfortunately for the produce growers that were ravaged by recent hurricanes, a lot of the nation’s vegetable and fruit crops aren’t covered. Hurricanes Irma and Harvey, …

Category 4 Hurricane Maria Barrels Into Puerto Rico

Wed, 09/20/2017 - 08:32
Hurricane Maria slammed into southeastern Puerto Rico as a Category 4 storm with the potential to inflict $30 billion in damages just two weeks after Irma ravaged the cash-strapped island. Top winds reached 155 miles (249 kilometers) per hour as …

Search for Survivors Underway after Mexico Earthquake; Hundreds Killed

Wed, 09/20/2017 - 08:27
Mexican search and rescue teams worked through the night after an earthquake rocked one of the world’s largest urban centers, killing hundreds and reducing buildings to rubble. Military police, paramedics and volunteers, aided by giant flood lights, sifted through the …

FedEx Goes Cyber Insurance Shopping After Profit Takes Hit from Attack

Wed, 09/20/2017 - 08:00
Package delivery company FedEx Corp. said on Tuesday a June cyber attack on its Dutch unit slashed $300 million from its quarterly profit, and the company lowered its full-year earnings forecast. The company said the cyber attack slashed 79 cents …

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