» Texas Windstorm Insurer Lowers Initial Premium Amount Due; Extends Payment Deadline
07/04/20 11:49 from Insurance Journal
Texas’ property insurer of last resort for wind and hail in counties along the state’s coastline is temporarily reducing the amount of premium due in order to issue a policy and providing 75 days to pay the remaining premium. The …
» Fire Near Florida Airport Burns 3,500 Rental Cars
07/04/20 11:41 from Insurance Journal
More than 3,500 rental cars were damaged or destroyed in a fire that burned near a Florida airport before being contained late Friday night. The Fort Myers News-Press reports the cars were in a grassy area used as an overflow …
» Oklahoma House OKs New Powers for Governor Amid COVID-19 Pandemic
07/04/20 11:35 from Insurance Journal
The Oklahoma House has granted sweeping new powers to the governor to respond to the deadly coronavirus outbreak. The House met in special session and approved the resolution under the never-before-used Catastrophic Health Emergency Act, which gives Gov. Kevin Stitt …
» Minnesota Lawmakers to Ensure Workers’ Comp Coverage to Responders with COVID-19
07/04/20 11:26 from Insurance Journal
The Minnesota Legislature is reconvening to pass a bill to ensure that first responders and health care workers who contract COVID-19 qualify for workers’ compensation without having to prove that they contracted the disease on the job. Legislative leaders announced …
» Venture Underwriters Hires Barrow in Chicago, Expanding Underwriting Team
07/04/20 11:23 from Insurance Journal
Venture Underwriters Inc., a division of Allstar Financial Group, has expanded its Chicago underwriting team to include commercial underwriting veteran Chris Barrow. Barrow joins Chicago office as vice president specializing in commercial general liability. The office will be relocating to …
» Marsh Names Rahr in Chicago as Global Leader of Multinational Client Service
07/04/20 11:22 from Insurance Journal
Insurance broker and risk advisor, Marsh, has appointed David Rahr as global leader, Multinational Client Service. Based in Chicago, he will report to Flavio Piccolomini, president, Marsh International, and Martin South, president, US and Canada. In this role, effective April …
» Texas Mutual to Distribute $330M in Policyholder Dividends Two Months Early
07/04/20 11:21 from Insurance Journal
Workers’ compensation insurer, Texas Mutual Insurance Co., will distribute $330 million in policyholder dividends to be paid out two months early than scheduled. The company has historically paid dividends in June, and in response to the coronavirus pandemic, saw an …
» Aspen Re Names Axis Re’s Kreuzer Senior Managing Director for Americas
07/04/20 11:16 from Insurance Journal
Scott Kreuzer has been appointed senior managing director, Americas, at Aspen Re, effective May 4, 2020. Kreuzer joins Aspen Re from Axis Reinsurance where he has served as senior vice president, head of Casualty North America, since August 2018. He …
» States Need Data on Medical Workers’ Coronavirus Status
07/04/20 11:07 from Insurance Journal
Experts and health officials who are trying to plan a response to the coronavirus outbreak are missing a critical piece of information — the number of health care workers who have tested positive for the disease. Washington state faced the …
» Move Over Young Entrepreneurs. Older Innovators Are Just as Successful.
07/04/20 10:29 from Insurance Journal
A new study makes the case that entrepreneurship isn’t just for the young, or for men. From Steve Jobs to Mark Zuckerberg, the stories of prosperous, young innovators drive the American economic narrative. However, the truth is that older business …
» How U.S. Insurance Industry Deals Fared in February
07/04/20 10:19 from Insurance Journal
Financial deals in the U.S. insurance industry dropped off 8% during February 2020 compared with the last 12-month average. According to GlobalData’s deals database, a total of 46 deals worth $3.27 billion were announced in February 2020, compared to the …
» Arizona Coronavirus Cases Exceed 2,000 As Deaths Top 50
07/04/20 10:15 from Insurance Journal
Arizona now has over 2,000 cases of the new coronavirus and the state’s death toll from the disease has topped 50, state health officials reported Saturday. The Department of Health Services reported 2,019 cases statewide with 52 death as of …
» Man Suing over Injuries in Portable Horse Stall in Oregon During High Winds
07/04/20 10:12 from Insurance Journal
A man is suing the organizers of a 2018 Bend, Ore. horse show for serious injuries he says he suffered when high winds lifted the portable stall he and his horse were inside and threw them 40 feet. Jeffrey Ruthhardt …
» Insurance Veteran Kevin Brooks Passes Away Due to COVID-19 Complications
07/04/20 10:04 from Insurance Journal
Insurance industry veteran Kevin P. Brooks passed away on April 3, 2020, due to complications of COVID-19. Brooks had a long and successful career in the insurance industry, focusing on wholesale, specialty and surplus lines. His career began in 1969 …
» Passenger Sues United Airlines Over Refusal to Refund Airfare Despite U.S. Order
07/04/20 09:19 from Insurance Journal
United Airlines Holdings Inc. was sued by a passenger for refusing to issue refunds for canceled flights, three days after U.S. regulators ordered airlines to reimburse customers. The passenger, Jacob Rudolph, filed the suit in federal court in Chicago on …
» Maryland Auto Allows Participants to Pause Payments During State of Emergency
07/04/20 08:37 from Insurance Journal
Participants in FineFix, Maryland’s auto fine forgiveness program, will be allowed to pause their payment plans during the current state of emergency in Maryland. The Uninsured Division of Maryland Auto Insurance is taking this action in order to provide additional …
» Delaware Auto Insurers Take Actions to Help Consumers During COVID-19 Pandemic
07/04/20 08:31 from Insurance Journal
Automobile insurers in Delaware are taking a number of actions in light of COVID-19, the Delaware Department of Insurance (DOI) announced. On Monday, Allstate announced it would embark on a premium payback program resulting in $1.5 million going back to …
» Stresses of COVID-19 Hit Businesses, Their Insurers, so Partnership Is Needed: FERMA
07/04/20 07:44 from Insurance Journal
The Federation of European Risk Management Associations (FERMA) has called for enhanced understanding of the insurance needs of European businesses to help them get through the pandemic and recover afterwards. “Many companies are under great pressure as a result of …
» European Watchdog Urges Re/insurers to Suspend Dividends During Pandemic
07/04/20 06:50 from Insurance Journal
The European regulator has urged re/insurers to temporarily suspect dividend distributions and share buybacks aimed at remunerating shareholders, given the level of uncertainties connected to the impact of the COVID-19 crisis. The European Insurance and Occupational Pensions Authority (EIOPA) said …
» Global Supply Chains Strained as Ship Crews Are Stuck in Lockdown
07/04/20 05:28 from Insurance Journal
Port restrictions and canceled flights are straining the ability to replace seafarers on board ships, further weakening global supply chains already snarled by the coronavirus pandemic. Hubs like Singapore, Abu Dhabi and Shanghai have halted most crew transfers, while global …