» Fifth Member of $31M New York City Trip-And-Fall Scheme Arrested, Charged
21/10/21 10:03 from Insurance Journal
A New York litigation funder and the fifth member of a $31 million trip-and-fall fraud scheme has been arrested and charged in Manhattan Federal Court. An indictment has been unsealed charging Adrian Alexander with conspiracy to commit mail and wire …
» 1,887 Washington Workers Fired, Leave Jobs Due to Vaccine Mandate
21/10/21 09:48 from Insurance Journal
More than 1,800 Washington state workers have been fired, resigned or retired due to the state’s COVID-19 vaccination mandate, according to data released Tuesday. The latest numbers released by the governor’s Office of Financial Management show that about 3% of …
» Governor Hochul Declares October as Cyber Security Awareness Month in New York
21/10/21 09:31 from Insurance Journal
New York Governor Kathy Hochul has proclaimed October 2021 as Cyber Security Awareness Month in New York state. The announcement comes as part of the state’s effort to raise awareness on the importance of all New Yorkers developing smart cybersecurity …
» Business Owners’ Risk Management Acumen Falls Short in Modern Era: Broker
21/10/21 09:29 from Insurance Journal
In an era of increased business risk, the owners, CEOs and founders of small-medium enterprises (SME) and technology startups are falling short in both evaluating these risks and showing the right acumen for risk management. According to a report released …
» AM Best Drops Florida Farm Bureau Outlook to Negative After Surplus Declines
21/10/21 09:14 from Insurance Journal
Credit-rating agency AM Best has downgraded its outlook for Florida Farm Bureau Casualty Co., from stable to negative, due to the company’s declining surplus in a disaster-prone state. “The revised outlooks reflect the continued volatility in the group’s policyholder surplus,” …
» Howden Acquires Bermuda-Based Insurance Broker Foram
21/10/21 09:13 from Insurance Journal
Howden, the London-based insurance broker, announced the acquisition of Foram Brokerage Ltd., an independent re/insurance broker based in Hamilton, Bermuda. Financial terms of the transaction were not disclosed. Foram is an independent re/insurance broker that provides speciality brokerage services in …
» 3 States Could Lose Their Workplace Safety Authority for Refusing COVID Rules
21/10/21 08:05 from Insurance Journal
The Biden administration threatened Tuesday to revoke the authority for three Republican-controlled states to handle their own workplace safety enforcement because they have refused to adopt rules to protect health care workers from COVID-19. The threats were sent to Arizona, …
» FAA Proposes Minimum 10-Hour Rest Period for Flight Attendants
21/10/21 07:49 from Insurance Journal
The Federal Aviation Administration (FAA) said Thursday it was proposing to require flight attendants receive at least 10 hours of rest time between shifts after Congress had directed the action in 2018, according to a document released Thursday. Airlines for …
» Cowbell Cyber, Palomar E&S Enter Multi-Year Partnership
21/10/21 06:00 from Insurance Journal
Cowbell Cyber, an AI-powered cyber insurance provider for small to medium enterprises, announced a strategic partnership with Palomar Excess & Surplus Insurance Co. to expand its offerings on a non-admitted basis nationwide. The multi-year agreement with Palomar, backed by AM …
» UK MGA CFC Underwriting Receives Major Investment From 2 Private Equity Firms
21/10/21 04:14 from Insurance Journal
CFC Underwriting, the London-based specialist managing general agent, announced a major investment jointly led by EQT and Vitruvian Partners, two of Europe’s leading private equity firms. The size of the investment was not disclosed. Founded in 1999, CFC was one …
» UK’s BMS Acquires South Korean Broker VIB, Led by Former Aon Executive
21/10/21 03:38 from Insurance Journal
BMS, the UK independent specialist insurance and reinsurance broker, announced the acquisition of Seoul-based insurance broker, Value-add Insurance Broker (VIB). Financial terms of the transaction were not disclosed. As part of the acquisition, VIB will become BMS Korea, a newly-licensed …
» Castel Targets U.S. Professional Liability Business With Launch of Underwriting Cell
21/10/21 01:28 from Insurance Journal
Castel Underwriting Agencies Ltd. has launched a new underwriting cell, North American Professional Liability (NAPL), to focus on professional service firms’ business in the U.S. The cell is writing both primary and excess layer coverage for larger risk managed clients …
» New Zealand Is 1st Country to Pass Climate Change Disclosure Laws for Insurers, Banks
21/10/21 01:03 from Insurance Journal
New Zealand has become the first country to pass laws requiring banks, insurers and investment managers to report the impacts of climate change on their business, officials said on Thursday. About 200 of the largest financial firms in New Zealand, …
» Acrisure Enters Brazilian Market with Purchase of Broker It’sSeg
21/10/21 01:00 from Insurance Journal
Acrisure, the Grand Rapids, Mich.-based global insurance broker, announced it has signed an agreement to acquire It’sSeg, the largest independent benefit management and insurance broking firm in Brazil. The partnership with It’sSeg marks Acrisure’s entry into the Brazilian market and …
» AXIS Capital Accelerates Its Retreat From Coal Investments and Cover
21/10/21 00:41 from Insurance Journal
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. “It is our belief at AXIS that [insurance/reinsurance] industry needs to move to the forefront of the …
» Wright National Offers ‘Pinpoint’ Flood Insurance Policies in Georgia
21/10/21 00:27 from Insurance Journal
Georgia homeowners now have another choice in flood insurance. Wright National Flood Insurance Services, underwritten by Zurich American, announced it has begun offering policies in the state. Using model-based rating methods, the program can pinpoint risk house by house, the …
» Asset Managers, Including Allianz, to Cut Portfolio Emissions by at Least 25% by 2025
21/10/21 00:12 from Insurance Journal
By 2025, 29 of the world’s biggest pension funds and investment firms, including Allianz SE and the California Public Employees’ Retirement System, intend to have cut the emissions of their portfolio holdings by at least 25%. The targets, which cover …
» No App for That: Florida Court Bans Lawyer-Finding Service, But More to Come
21/10/21 00:01 from Insurance Journal
A Florida Supreme Court decision banning an app-based service from connecting ticketed drivers with lawyers may be a win for the law profession, but it is another impediment to average citizens gaining access to the court system, critics said. “This …
» People Moves: Marcello Joins Lockton as COO of Mountain West; Alliant Adds Hill in California
21/10/21 00:00 from Insurance Journal
Lockton named Julie Marcello chief operating officer of its Mountain West operations. Marcello will be responsible for operations and business development for Lockton’s regional hub, including Denver, Phoenix, Las Vegas, Salt Lake City and Seattle. Marcello has 23 years of …
» ‘We Cannot Do This Alone.’ Biden Cyber Crime Fighter Seeks Corporate Help.
21/10/21 00:00 from Insurance Journal
U.S. Deputy Attorney General Lisa Monaco has a message for corporate America: The U.S. Justice Department needs its help in order to take down cyber criminals. “We cannot do this alone,” Monaco said on Wednesday during a virtual roundtable on …