October 26, 2020
Mon, 26 Oct 2020 22:17:26 +0000
American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and chief operating officer, will become its nex...
Mon, 26 Oct 2020 19:36:36 +0000
A Travis County, Texas, judge has approved an order placing a Houston-based nonstandard auto insurer into receivership. On Oct. 21, Travis County District Judge Tim Sulak signed the application by the Texas Department of Insurance to appoint a rehabili...
Mon, 26 Oct 2020 16:52:02 +0000
A massive fire that started Thursday at a north Georgia lumber facility was expected to take days to burn itself out. North Georgia Hardwoods in Cleveland caught fire before dawn Thursday. The blaze was contained by 7:30 a.m., Cleveland Fire …
Mon, 26 Oct 2020 16:45:54 +0000
Amarillo, Texas-based Fairly Group and its sister-company OccuNet have unveiled an insurance product that covers medical expenses for collegiate student athletes who contract COVID-19. Inspired by the viral #wewanttoplay campaign created by Ohio State ...
Mon, 26 Oct 2020 16:42:58 +0000
AccuRisk Solutions has teamed up with Convex Group Limited (Convex) to offer occupational accident and employer’s liability coverage to Texas employers that have opted out of workers’ compensation. AccuRisk254 is available in all Texas counties. AccuRi...
Mon, 26 Oct 2020 16:42:11 +0000
A federal judge has dismissed a lawsuit filed by Elvis Presley Enterprises against the city of Memphis over a delay in approval for expansion plans at Graceland. U.S. District Judge Samuel Mays dismissed the complaint Thursday, saying the company had …
Mon, 26 Oct 2020 16:40:28 +0000
Nick Gunn of Groveland, Ill., has named Young Agent of the Year by the Independent Insurance Agents of Illinois (IIA of IL). Gunn was presented with the Young Agent of the Year Award for demonstrating exceptional service to the insurance …
Mon, 26 Oct 2020 16:34:50 +0000
A Black man who was shot by police outside an Iowa nightclub five years ago and alleged he was singled out because of his race has agreed to a nearly $400,000 settlement. Jovan Darnell Webb, 33, was wounded while attempting …
Mon, 26 Oct 2020 16:28:19 +0000
A magnitude 3.2 earthquake shook an area on the Kansas-Oklahoma line on Oct. 22, the U.S. Geological Survey reported. The tremor struck at 8:17 p.m. and was centered in a remote area 22 miles (35 kilometers) northwest of Ponca City, …
Mon, 26 Oct 2020 15:35:02 +0000
Insurer Zurich North America is collaborating with the digital legal company Paladin to connect Zurich’s attorneys with pro bono service opportunities. Approximately 97% of respondents to a recent survey by Legal Services Corp. expected a sharp increas...
Mon, 26 Oct 2020 15:29:12 +0000
Chinese financial technology giant Ant Group has set terms for a dual listing aimed at raising up to $34.4 billion from the world’s largest stock market debut, with investors scrambling for a piece of the fast-growing company. The deal would …
Mon, 26 Oct 2020 15:00:42 +0000
Some Alaska residents received tsunami warnings on their cellphones following an earthquake earlier this week, including customers in the Anchorage area who were outside the potential danger zone. There was no concern over a tsunami reaching Anchorage,...
Mon, 26 Oct 2020 14:56:47 +0000
Large swaths of California had no electricity Monday as utilities tried to prevent the chance of their equipment sparking wildfires while the fire-weary state was buffeted by powerful winds and dangerously dry weather conditions. About 300,000 power cu...
Mon, 26 Oct 2020 14:20:30 +0000
Virginia state officials have laid out a plan to protect the state’s coastal communities from sea-level rise that could inundate land and roads and threaten property in the decades ahead. Governor Ralph Northam joined other state and local officials on …
Mon, 26 Oct 2020 14:17:52 +0000
Rhode Island has fined and temporarily shut down four more bars over alleged violations of state rules meant to control the spread of the coronavirus, state health officials said Friday. State inspectors found various violations at the establishments, ...
Mon, 26 Oct 2020 14:17:10 +0000
A federal judge has ruled that State Farm Fire and Casualty Co. does not have to return premiums to a small business customer because of the insured’s reduced business during the pandemic. The judge in Missouri found that the plaintiff, …
Mon, 26 Oct 2020 14:15:54 +0000
Connecticut’s attorney general asked regulators Wednesday to order reimbursements for utility customers who lost food and medicine during August’s dayslong power outage in the wake of Tropical Storm Isaias. Attorney General William Tong spoke as the Pu...
Mon, 26 Oct 2020 13:27:28 +0000
Genworth MI Canada said on Monday real estate service provider Brookfield Business Partners will buy the remaining 43% stake it does not hold in the mortgage insurer for about C$1.6 billion ($1.21 billion). Brookfield, which owns about 57% of the …
Mon, 26 Oct 2020 13:10:47 +0000
W.R. Berkley Corp.’s 2020 third-quarter financial results landed on the strong side despite a dip in net income and more COVID-19 losses, a result the company credits to rate hikes and underwriting discipline. The commercial lines specialty insurer and...
Mon, 26 Oct 2020 13:08:30 +0000
Coverys European Holdings (CEH), an agency platform and network specializing in European markets, has completed the 100% acquisition of Bridge Insurance Broker S.R.L, a Lloyd’s wholesale broker and coverholder based in Lucca, Italy. Bridge provides a f...
Mon, 26 Oct 2020 13:01:14 +0000
Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and...
Mon, 26 Oct 2020 12:49:27 +0000
BP on Sunday said it has begun to evacuate four offshore U.S. Gulf of Mexico oil platforms and secure facilities as Tropical Storm Zeta sprang up in the Caribbean Sea. The 27th named storm of this year’s Atlantic Hurricane season, …
Mon, 26 Oct 2020 12:40:34 +0000
The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR). ET...
Mon, 26 Oct 2020 12:34:55 +0000
Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam …
Mon, 26 Oct 2020 12:05:12 +0000
Big technology platforms are calling on the European Union to protect them from legal liabilities for removing hate speech and illegal content as government scrutiny over how platforms manage user posts grows worldwide. A safeguard protecting companies...
Mon, 26 Oct 2020 09:07:56 +0000
Westpac Banking Corp. has taken a A$1.2 billion ($871 million) charge against second-half earnings to cover a record money-laundering fine and the mounting cost of compensating customers for years of misconduct. The charge is the latest blow to Austral...
Mon, 26 Oct 2020 08:56:21 +0000
Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the coronavirus pandemic, companies are turning to in-house insurance firms. These so-called “captive” insurers are already common among large...
Mon, 26 Oct 2020 06:33:28 +0000
Scott Benefit Services, a division of Scott Insurance, will expand its Senior Living Practice into additional markets in the Southeast region. The Senior Living Practice, led by Pim Jager, vice president and branch leader of the agency’s Richmond, Va. ...
Mon, 26 Oct 2020 05:00:49 +0000
The U.S. nuclear power reactors facing the highest risks of a meltdown from earthquakes are not in tremor-prone California, but states including South Carolina and Missouri, an analysis of government data published on Thursday said. The chances of an e...
Mon, 26 Oct 2020 05:00:49 +0000
McDonald’s Corp. on Friday urged a U.S. judge to dismiss a lawsuit by dozens of Black former franchise owners who accused the fast-food giant of racial discrimination for selling them underperforming stores, saying it did not want them to fail …