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Today’s Insurance News
Source: Insurance Journal
State Insurance Commissioners Name New Jersey’s Hartt to Financial Oversight Panel
Andrew G. Simpson - August 29, 2016, 5:49 pm
The National Association of Insurance Commissioners (NAIC) has appointed Peter L. Hartt, director of New Jersey’s Insurance Division, to a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC). Hartt will represent the interests …
Lockton Opens New Oregon Operation, Names McClave Producer
admin - August 29, 2016, 5:00 pm
Lockton Insurance Brokers has opened a new commercial insurance operation in Portland, Ore. Andrew McClave has been named producer the office. He has been advising clients on risk management and property/casualty insurance issues for a decade, including for the past …
ADM Settles Ponzi Scheme Suit by Missouri Farmers; Terms not Disclosed
Stephanie K. Jones - August 29, 2016, 4:30 pm
Agribusiness Archer Daniels Midland has settled a lawsuit over claims the company was behind a now-imprisoned grain broker’s scheme that gouged millions from dozens of Missouri farmers. The St. Louis Post-Dispatch reports that Thursday’s confidential settlement ended a civil trial …
Arkansas Judge: Hospital Can’t Be Blamed in Suit Over Woman’s Medical Records
Stephanie K. Jones - August 29, 2016, 4:28 pm
An Arkansas judge has ruled the hospital where a TV anchor died can’t be blamed for the wrongdoing of two former hospital workers who illegally looked at her medical records after she was hospitalized. The Arkansas Democrat-Gazette reports Pulaski County …
Analysis: Louisiana Will Need Congress to Help After Flooding
Stephanie K. Jones - August 29, 2016, 4:24 pm
Insurance payments and traditional federal aid programs won’t be enough to respond to the catastrophic flooding that ravaged tens of thousands of homes across south Louisiana, wrecking entire subdivisions and devastating entire cities. Louisiana, once again, will be asking Congress …
Court: Michigan Car Insurance Fund Public but Records Can Be Withheld
Stephanie K. Jones - August 29, 2016, 4:22 pm
A new court decision will keep the public’s eyes from records of an auto insurance fund. The Michigan appeals court says the state Catastrophic Claims Association is a public body, but lawmakers legally carved out an exemption from public records …
New Illinois Law Makes Insurance Companies Find, Pay Beneficiaries
Stephanie K. Jones - August 29, 2016, 4:12 pm
Illinois Gov. Bruce Rauner has signed legislation requiring insurance companies to locate beneficiaries of unclaimed life insurance policies and pay them money they’re owed. The Republican said Friday the state also is launching a website to help Illinois residents find …
Louisiana Flood Victims Eligible for State Sales Tax Refunds
Stephanie K. Jones - August 29, 2016, 4:10 pm
Louisiana residents in presidential declared disaster areas impacted by the March and August floods can file for a refund of state sales tax they paid on personal property destroyed by the floods, according to State Treasurer John Kennedy. “The state …
Truck Hauling Takata Air Bag Inflators to Texas Site Explodes; 1 Killed
Stephanie K. Jones - August 29, 2016, 4:02 pm
A truck transporting Takata Corp air bag inflators and propellants that are at the center of a global recall exploded in Texas earlier this month, resulting in one death and four injuries, the embattled auto parts supplier said. The truck …
Lawyers for Washington Landslide Victims Accuse State of Fraud
admin - August 29, 2016, 3:24 pm
Attorneys for victims and family members in the deadly 2014 landslide in Washington state have accused state lawyers of orchestrating a fraud to hide the truth by deleting emails between defense expert witnesses. In a motion filed Tuesday, the attorneys …
Family of Arizona Instructor Killed by Girl with Uzi Sues Gun Range
admin - August 29, 2016, 3:21 pm
The family of an Arizona shooting range instructor who was accidentally killed by a 9-year-old girl with an Uzi has sued the business, alleging it should not have allowed a child to use the high-powered weapon. The wrongful-death lawsuit seeks …
Court Sides with California-based Grocer Trader Joe’s in Knockoff Suit
Don Jergler - August 29, 2016, 3:17 pm
A U.S. court has the authority to hear a trademark lawsuit by grocery chain Trader Joe’s against a man who purchased the company’s products and resold them in Canada at “Pirate Joe’s,” a store designed to mimic a real Trader …
Navigators Appoints New Leadership for Claims Operations
Andrew G. Simpson - August 29, 2016, 2:30 pm
The Navigators Group Inc. has restructured its leadership team for its global claims organization. Glen Bronstein has been promoted to the newly created role of global chief claims officer. Bronstein joined Navigators to lead the U.S. claims organization in May …
Earth Gains Coastal Land Areas as Manmade Expansion Outpaces Sea Level Rise
L.S. Howard - August 29, 2016, 2:14 pm
The Earth has gained coastal land equivalent to the size of Jamaica in the past 30 years with man-made construction outpacing erosion caused by rising sea levels, mapping data showed on Thursday. Expansion of ports off China, construction of luxury …
AIG, Chubb, XL Lead in $1 Billion U.S. Cyber Insurance Market: Fitch
Andrew G. Simpson - August 29, 2016, 2:03 pm
About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S. property/casualty (P/C) insurance industry and analyzes the cyber insurance …
Integro Expands Reinsurance Presence in Latin America with HRL Alliance
L.S. Howard - August 29, 2016, 1:39 pm
International broker and risk management firm Integro announced an agreement with HR Latinoamerica Ltda. Corredores de Reaseguros (HRL) to serve as HRL’s exclusive London wholesale reinsurance trading partner. The licensing agreement grants HRL Colombia use of the Integro name and …
Judge Grants Uber’s Request to Put New York Price Fixing, Arbitration Lawsuit on Hold
Elizabeth Blosfield - August 29, 2016, 1:17 pm
A federal judge on Friday granted a request by Uber Technologies Inc. and its chief executive officer to put a passenger’s price-fixing lawsuit against them on hold, while they appeal his refusal to let them arbitrate the dispute. Calling his …
CNA Hardy Builds Financial Institutions Team with Goodair & Bazell Appointments
L.S. Howard - August 29, 2016, 12:29 pm
CNA Hardy, a London-based specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the appointment of Alec Goodair as UK financial institutions (FI) manager and Suzannah Bazell as FI underwriter. Reporting to John Taylor, head of …
Woman Dies After Falling 35 Feet From Zip Line Ride at a Delaware State Park
Elizabeth Blosfield - August 29, 2016, 12:27 pm
Delaware State Police say a woman who died after tumbling from a zip line ride fell from a platform about 35 feet off the ground. Authorities say 59-year-old Tina Werner of Felton was waiting to descend on the zip line …
Would-Be Drone Pilots Flock to Take First U.S. Licensing Test
Andrew G. Simpson - August 29, 2016, 12:10 pm
Thousands of would-be drone pilots are racing to get licensed under new U.S. regulations that have opened an aerial stampede. More than 3,300 have signed up to take the test on Monday, the first day it’s available, and the U.S. …
Typhoon Lionrock Expected to Hit Japan’s Tohoku Region, Site of 2011 Tsunami
L.S. Howard - August 29, 2016, 6:32 am
Typhoon Lionrock is projected to make landfall in Japan Tuesday and is likely to strike the northern Tohoku region, the area devastated by the March 2011 earthquake and tsunami. It would be the first tropical cyclone to make landfall in …
U.S. Proposes Requiring Speed Limit Devices on Trucks, Buses
admin - August 29, 2016, 5:30 am
Trucks and buses in the United States may have to be equipped with devices to limit their speed under a proposed rule issued on Friday by the U.S. Transportation Department which said the move could save both lives and fuel. …
GM Is Winning Ignition-Switch Defect Trials
Andrew G. Simpson - August 29, 2016, 5:20 am
General Motors Co.’s victory in a Houston courtroom Thursday makes the carmaker three for three in trials related to an ignition-switch defect, but its legal entanglements may stretch on for years. At least a dozen lawsuits are set for trial …
USAIG Launches Safety Program for Unmanned Aircraft Systems
Amy O' Connor - August 29, 2016, 5:08 am
United States Aircraft Insurance Group (USAIG) has introduced a safety program called Performance Vector Unmanned, created specifically for policyholders who insure unmanned aircraft systems. The new program aims to keep safety at the forefront, which is especially critical considering that UAS …
How One Big Bank Is Targeting Millennials by Mobilizing Car Buying, Financing
Andrew G. Simpson - August 29, 2016, 5:00 am
Millennials, countless surveys will tell you, are not fans of big banks. They are smart, price-sensitive consumers who are far more likely than older customers to switch lenders if they find a better deal. They are also a huge, irresistible demographic …
Sinkhole 2 Lanes Wide Opens on Miami Turnpike
Amy O' Connor - August 29, 2016, 4:27 am
A sinkhole two lanes wide has opened up on the southbound side of Florida’s Turnpike near Hard Rock Stadium in Miami-Dade. According to the Miami Herald the sinkhole has brought traffic to a standstill on the Turnpike, closing lanes and …
Country Fresh Vegetables Recalled from Southeast Stores
Amy O' Connor - August 29, 2016, 4:23 am
Fresh-cut vegetables are being recalled from grocery, discount and convenience stores across the Southeast because the food may be contaminated with potentially fatal Listeria bacteria. Conroe, Texas-based Country Fresh Inc. said Friday that the recall involves its vegetable products shipped …
Bystanders Hold up Collapsing Roller Coaster in Georgia, Save 6 Kids
Amy O' Connor - August 29, 2016, 4:16 am
Fire officials say several bystanders held up a kiddie roller coaster that had begun to collapse in Georgia, allowing six children and one adult to escape. Georgia Insurance and Safety Fire Commissioner spokesman Glenn Allen says the group held the …
Starr Companies Opens Nashville Office, Hires Ponder as Branch Manager
Amy O' Connor - August 29, 2016, 4:06 am
Starr Companies has added Michael Ponder as the branch manager for its newly-opened Nashville office. He will be responsible for strategic growth, financial performance as well as broker and client relationships within Tennessee. Ponder joins Starr with more than 14 …
Metal Theft Remains an Expensive Problem for Insurance Industry
Elizabeth Blosfield - August 26, 2016, 6:22 pm
Metal theft became a growing concern post financial crisis due to rising global demand for scrap metal, and although economic conditions have slowed demand recently, this expensive crime is still causing headaches for the insurance industry. “[Metal theft] is a huge mess …

Southwest Risk is proud to announce one of our brokers has just been named a 2016 Young Gun by Insurance Business of America. Congratulations Justin Kotrla!

We are also excited to announce the recent opening of a Florida location. For more information, please contact Keith Driggers and Barbara Glennon in Tallahassee.

Southwest Risk continues to actively recruit seasoned insurance professionals to join our winning team!