Wed, 27 Jan 2021 15:17:13 +0000
AstraZeneca PLC was sued by a pension fund on behalf of investors who it says suffered losses because of flaws in the company’s testing of its coronavirus vaccine. For much of last year, the Cambridge, England-based pharmaceutical company was touting …
Wed, 27 Jan 2021 14:48:25 +0000
The parents of an autistic Maryland teenager who died in class after choking on a glove have filed a lawsuit against school officials, saying negligence led to their son’s death. Bryan and Tanya Levy, the parents of 17-year-old Bowen Levy, …
Wed, 27 Jan 2021 14:43:25 +0000
The Beacon Mutual Insurance Company has named Gregg Tumeinski as chief financial officer (CFO) at The Beacon Mutual Insurance Company. Tumeinski will succeed Cynthia Lawlor, who is retiring after more than 28 years at the Rhode Island workers’ compensa...
Wed, 27 Jan 2021 14:38:57 +0000
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
Wed, 27 Jan 2021 14:33:48 +0000
SterlingRisk Insurance, a Woodbury, New York-based independent insurance brokerage, has promoted Robert F. Larocca to chief strategic relations officer. Larocca, who began his career at SterlingRisk in 1999, will retain his title of executive vice pres...
Wed, 27 Jan 2021 14:16:10 +0000
Ant Group Co. could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking signs on what the future holds for the world’s largest fintech giant. …
Wed, 27 Jan 2021 13:29:35 +0000
Volkswagen AG and a German auto supplier on Tuesday asked the U.S. Supreme Court to reverse a lower-court ruling that said two counties could seek financial penalties over excess diesel emissions that could total billions of dollars. The German automak...
Wed, 27 Jan 2021 08:58:53 +0000
Tennessee had 32 boating-related deaths in 2020, the most in 37 years, wildlife officials said. The Tennessee Wildlife Resources Agency reported an increase in traffic on the state’s lakes and rivers in 2020 as outdoor activities such as boating increa...
Wed, 27 Jan 2021 08:48:35 +0000
Sedgwick, a provider of technology–enabled risk, benefits and integrated business services, has added Michelle Hay as global chief people officer. With more than 25 years of professional experience and a human resources leadership and consulting expe...
Wed, 27 Jan 2021 06:00:47 +0000
The Liberty Company Insurance Brokers in Woodland Hills, Calif., has added Jessica James to the firm. James focuses on construction, environmental, professional liability, non-profits, cannabis and lessor’s risk. She has more than 21 years of experienc...
Wed, 27 Jan 2021 06:00:47 +0000
The Allstate Corp. is selling Allstate Life Insurance Co. to entities managed by investment firm Blackstone for $2.8 billion. Explaining the move from Allstate’s perspective, Allstate CEO Tom Wilson referred to a strategy to grow market share in person...
Wed, 27 Jan 2021 06:00:32 +0000
Everest Re is the most recent insurance and reinsurance company to announce catastrophe and COVID losses in advance of fourth-quarter earnings, but Everest’s disclosure on Monday also addressed a boost in prior-year casualty reserves. “The decisive res...
Wed, 27 Jan 2021 06:00:29 +0000
What its creators say is the first global operational offering on blockchain infrastructure has been launched, enabling the transfer of facultative risks within a network of companies, with marine insurance being the first business line to try it out. ...
Wed, 27 Jan 2021 06:00:27 +0000
There was no escaping the coronavirus in 2020 and the pandemic will dominate the risk landscape again in 2021, according to global leaders in business, risk management and insurance. A trio of Covid-19 related risks — business interruption, the pande...
Wed, 27 Jan 2021 06:00:01 +0000
Auto theft appears to have increased considerably in 2020 compared to 2019, reversing two years of auto theft declines. A preliminary analysis by the National Insurance Crime Bureau shows there were 873,080 auto thefts in 2020, or almost 2,400 a …
Wed, 27 Jan 2021 01:16:34 +0000
State Attorney General Mike Hunter is seeking more than $1.8 million from a company he says owes that state after failing to deliver four orders of personal protective equipment (PPE) ordered by the Oklahoma Department of Health. In a petition …
Wed, 27 Jan 2021 01:07:41 +0000
Gov. Laura Kelly has signed a bill that extends the state’s disaster emergency declaration, allowing Kansas to continue to tap into resources for its pandemic response efforts. The legislation, which extends the declaration to March 31, aims to provide...
Wed, 27 Jan 2021 01:04:45 +0000
Texas Gov. Greg Abbott said he is pushing state lawmakers to protect individuals and companies that opened businesses during the pandemic against coronavirus-related lawsuits. While the governor did not provide specifics about what protections he wants...
Tue, 26 Jan 2021 19:37:37 +0000
California Insurance Commissioner Ricardo Lara is alerting residents to review their current insurance policies in the midst of a forecast of winter weather bringing the possibility of floods, mudslides, debris flows, and other disasters to recent wild...
Tue, 26 Jan 2021 17:54:17 +0000
The St. Joe Company, a Northwest Florida-based real estate developer and asset manager, has formed Watersound Insurance Agency, LLC, a new venture offering personal and commercial insurance services in Northwest Florida. St. Joe has entered into a co-b...
Tue, 26 Jan 2021 17:45:43 +0000
FEMA has approved more than $1 billion in federal disaster assistance, long-term disaster loans and flood insurance claims since Hurricanes Laura and Delta hit the state in 2020. Laura made landfall in Louisiana in late August 2020 and Delta in …
Tue, 26 Jan 2021 17:43:14 +0000
Insurance agency Brown & Brown reported revenues for the fourth quarter of 2020 of $642.1 million, a jump of 10.9% or $63.1 million compared to the fourth quarter of 2019. Agency commissions and fees increased in the quarter by 10.9% …
Tue, 26 Jan 2021 17:39:28 +0000
Georgia taxpayers are spending nearly $200,000 a year in salary and benefits for an insurance commissioner who’s been suspended for nearly two years. When Insurance Commissioner John King presented his budget to lawmakers last week, it included $194,89...
Tue, 26 Jan 2021 17:38:09 +0000
Houston-based Skyward Specialty Insurance Group Inc. (Skyward Specialty) has appointed John Burkhart president of specialty lines with oversight of Executive and Professional Liability, Healthcare Professional Liability, Surety, E&S and the A&H busines...
Tue, 26 Jan 2021 17:35:13 +0000
A judge has struck down a North Dakota’s law that landowners say takes away their property rights. The so-called pore space law passed the Legislature in 2019 after supporters sought clarification on the use of cavities in rock or soil. …
Tue, 26 Jan 2021 17:32:24 +0000
AM 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 Wayne Mutual Insurance Co. (Wayne Mutual) in Wooster, Ohio. The outlook of these ratings has …
Tue, 26 Jan 2021 17:24:10 +0000
The rural economy in parts of 10 Plains and Western states continues to grow, but rural bank CEOs say their biggest fears for the 2021 economy are excessive inflation and higher long-term interest rates, according to a new monthly survey …
Tue, 26 Jan 2021 15:40:01 +0000
A bill that would protect businesses and health care providers from coronavirus-related lawsuits is advancing quickly through the Montana Legislature, after the state’s Republican governor said the measure was necessary to remove a statewide mask manda...
Tue, 26 Jan 2021 15:36:31 +0000
Legal sales of recreational marijuana in Arizona have started, a once-unthinkable step in the former conservative stronghold that joins 14 other states that have broadly legalized pot. The state Health Services Department on Friday announced it had app...
Tue, 26 Jan 2021 15:34:05 +0000
Advocates for farmworkers, teachers, grocery store clerks and other essential workers are worried they will have to wait until this summer to be vaccinated against the coronavirus as California considers giving priority to older residents. State offici...