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Today’s Insurance News
Source: Insurance Journal
Insurance Agents Assured of Trump Pass-Through Tax Break Under Final Treasury Rule
Andrew G. Simpson - January 18, 2019, 9:41 pm
The U.S. Treasury today issued final regulations and other guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations to deduct up to 20 percent of their qualified …
Oklahoma Securities Agency’s Computer Files Breached, Firm Says
- January 18, 2019, 5:47 pm
The Oklahoma agency that protects investors from fraud is investigating whether its data was breached after a cybersecurity research team discovered that a computer server had left millions of files unsecured and open to the public. Oklahoma Department of Securities …
Former Farmers, AIG Direct, 21st Century Exec DeSantis Named President, CEO of The General
- January 18, 2019, 5:43 pm
Nashville-based auto insurer The General has appointed veteran insurance executive Tony DeSantis to the new position of president and chief executive officer, joining Chief Operating Officer Steve Tjugum as the company’s top leaders. Elicia Azali has been named Marketing senior …
South Carolina Capitol City Bans Electric Scooters
- January 18, 2019, 5:36 pm
South Carolina’s capitol city has banned electric scooters for a year while the city studies the operation of companies providing the service. News outlets reported Columbia City Council voted Tuesday to prohibit the use of electric scooters to protect the …
Arthur J. Gallagher Acquires Interstate Insurance Underwriters in Louisiana
- January 18, 2019, 5:35 pm
Arthur J. Gallagher & Co. has acquired Shreveport, Louisiana-based Interstate Insurance Underwriters LLC, the company announced. Terms of the transaction were not disclosed. Founded in 1963, Interstate Insurance Underwriters is a managing general agency (MGA) offering a variety of property/casualty …
New Suits Filed Over Pain Meds Given to Near-Death Patients in Ohio
Kantele Franko and Andrew Welsh-Huggins - January 18, 2019, 5:14 pm
An Ohio man said on Jan. 16 he was stunned to learn of allegations that his wife’s hospital death last year was caused by a doctor’s order for a fatal dose of pain medication. David Austin said he called an …
Ohio Hospital: Doc Gave Excessive Pain Meds to Near-Death Patients, Suit Filed
- January 18, 2019, 5:10 pm
An intensive care doctor ordered “significantly excessive and potentially fatal” doses of pain medicine for at least 27 near-death patients in the past few years after families asked that lifesaving measures be stopped, an Ohio hospital system announced after being …
California OK’s Pot Deliveries into Communities that Ban Sales
Michael R. Blood - January 18, 2019, 4:40 pm
California has endorsed a rule that will allow home marijuana deliveries statewide, even into communities that have banned commercial pot sales. The regulation by the state Bureau of Cannabis Control was opposed by police chiefs and other critics who predict …
California Insurance Commissioner Names Executive Team
- January 18, 2019, 4:34 pm
California Insurance Commissioner Ricardo Lara announced new members of his executive team, including the first Latina chief deputy in the history of the California Department of Insurance. The new executive team members join an existing leadership team. “I am proud …
PG&E Says It Won’t Commit to Paying Settlements With 2015 California Fire Victims
Joel Rosenblatt - January 18, 2019, 4:22 pm
PG&E Corp. is so cash-starved that it won’t commit to paying settlements reached with people who lost their homes in a 2015 wildfire caused by a tree falling on a power line. The disclosure by a lawyer for the utility …
AXA XL Transfers XL Insurance from UK to Dublin as Post-Brexit HQ
- January 18, 2019, 3:47 pm
AXA XL has completed the transfer of its European Union insurance company, XL Insurance Co. SE (XLICSE), from the UK to Dublin, Ireland. XLICSE is a wholly owned subsidiary within the AXA XL division of AXA Group, providing insurance within …
NAIC Names 34 Insurance Consumer Representatives for 2019
- January 18, 2019, 3:34 pm
The National Association of Insurance Commissioners (NAIC) recently named 34 consumer liaison representatives for 2019. Established in 1992, the Consumer Liaison Program promotes consumer interaction with state insurance regulators at meetings and throughout the year. The 20 funded and 14 …
Employers Reminded that Feb. 1 Is Injury Report Posting Deadline
- January 18, 2019, 3:06 pm
The Occupational Safety and Health Administration is reminding employers they face a Feb. 1 deadline. That is the deadline for employers to post a copy of OSHA’s form 300A, which summarizes job-related injuries and illnesses logged during 2018. Each year, …
P/C Insurers Pulled Off Underwriting Turnaround in First 9 Months
- January 18, 2019, 2:39 pm
Private U.S. property/casualty insurers reported a $4.7 billion net underwriting gain in nine-months 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier. The results were helped by a rare decline in overall losses and loss …
The Bright Side in a Graying U.S. Workforce: Viewpoint
Mark Miller - January 18, 2019, 2:27 pm
Economists call it the “old-age dependency ratio” – a rough measure of the balance between people who work and retirees. The ratio compares the number of people over age 65 – classified as “old” – with those aged 15 to …
Hiscox Stages Cyber Attack to Show Small Businesses What It’s Like to Be Hacked
- January 18, 2019, 1:37 pm
Hiscox, a specialist in small business and cyber insurance, recently staged a “real world” hack to demonstrate what a cyber attack would look like for small businesses. The insurer collaborated with UK bike manufacturer Brompton Bicycle, constructing overnight a complete …
Vital Insurance Partners Names Kochman Senior VP of Program Placement
- January 18, 2019, 1:27 pm
Vital Insurance Partners, an insurance consulting and program intermediary, has named Curtis Kochman senior vice president of Program Placement. Kochman, who will be based in Pittsburgh, Penn., will be responsible for the development and placement of programs within the specialty …
Trager Reznitsky Insurance Opens Second Location in Connecticut
- January 18, 2019, 1:20 pm
Trager Reznitsky Insurance, based in North Haven, Conn., is expanding south to the shoreline town of Branford, Conn. Agency principals Joshua Trager and Eugene Reznitsky officially opened the agency’s second location on January 2, 2019. The agency’s new location shares …
N.Y. Workers’ Comp Board Launches Virtual Hearings Initiative
- January 18, 2019, 1:07 pm
The New York State Workers’ Compensation Board has launched a new tool that makes it easier for injured workers, attorneys and other participants to attend workers’ compensation hearings remotely. The Board’s virtual hearings give injured workers a way to move …
Boston Marks the 100th Anniversary of the Great Molasses Flood
William J. Kole - January 18, 2019, 12:38 pm
Slow as molasses? This treacle didn’t trickle. It was a sticky, deadly tsunami that flattened an entire Boston neighborhood within seconds. This week the city marked the 100th anniversary of its most peculiar disaster – the Great Molasses Flood. It …
Climate Change, Shrinking Glaciers Threaten Rhine River Shipping Access
William Wilkes, Vanessa Dezem and Brian Parkin - January 18, 2019, 12:08 pm
Kevin Kilps’s car ferry churns the waters of Germany’s Rhine river as he steers toward the bank opposite Kaub, a scenic village just south of the rocky outcropping named after the legendary siren Lorelei. It’s typically a busy stretch of …
Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M
- January 18, 2019, 11:24 am
Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the fourth quarter of 2018, primarily related to Hurricane Michael and the California wildfires. Additionally, the company’s fourth quarter 2018 results …
What’s Next for Brexit After UK Parliament Rejects May’s EU Divorce Deal?
Emma Ross-Thomas - January 18, 2019, 11:06 am
Prime Minister Theresa May’s Brexit deal has been thrown out by Parliament. She’s now in talks with rival politicians to find a way forward before presenting a Plan B on Monday. If her plan isn’t convincing, then British lawmakers will …
Marex Spectron’s Metals Financing Deal Triggers Fraud Lawsuit, Insurance Dispute
Eric Onstad - January 18, 2019, 10:43 am
Commodities broker Marex Spectron was warned by one of its executives about the risk of fraud before it finalized a metals financing deal with French bank Natixis that triggered a $32 million lawsuit by the lender, court documents seen by …
BHSI Expands into UK-Ireland Property Construction, Taps Scor’s Seamer to Lead Team
- January 18, 2019, 9:45 am
Berkshire Hathaway Specialty Insurance (BHSI) announced it is expanding into the property construction insurance market in the UK and Ireland and has appointed Simeon Seamer to lead the effort as head of Property Construction, UK and Ireland. “With the current …
Germany, China Agree to Expand Market Access in Insurance, Banking, Finance
Michael Nienaber - January 18, 2019, 9:12 am
Germany and China on Friday signed agreements to strengthen coordination in banking, finance and capital markets, and pledged to further open market access and deepen cooperation to broaden economic ties. The agreements were reached after a two-day visit to Beijing …
Missouri’s Lindley-Meyers to Chair NAIC’s Market Regulation Committee
- January 18, 2019, 6:09 am
Missouri Department of Insurance, Financial Institutions & Professional Registration (DIFP) Director Chlora Lindley-Myers has been appointed chair of the Market Regulation and Consumer Affairs (D) Committee for the National Association of Insurance Commissioners (NAIC). The mission of the committee is …
ICT: Destructive Weather Took a Break in Texas Last Year
- January 18, 2019, 6:02 am
Between 2015 and 2017, Texas experienced a record number of tornadoes, hailstorms and a hurricane, but the state finally got a reprieve from all of the destructive weather in 2018, the Insurance Council of Texas (ICT) reported. Prior to last …
Firms in Patent Feud Over U.S. Mandated Railroad Safety Technology
Christopher Yasiejko - January 18, 2019, 6:00 am
Two companies battling for a share of more than $14 billion in mandated safety upgrades on U.S. railroads are set to collide in federal court to resolve a dispute over technology that prevents train accidents. Germany’s Siemens AG accuses U.S. …
Method Insurance Launches Workers’ Comp Program for High-Hazard Risks
- January 18, 2019, 5:43 am
Method Insurance Services has launched a specialty workers’ compensation program with Service American Indemnity Co. that focuses on an under-served market segment for challenging, high-hazard risks. The program will entertain middle market accounts with manual premiums between $10,000 – $250,000 …

The Amynta Group Announces Acquisition of ClearView Risk Holdings.

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

Meet Steven Ateek – Vice President at Southwest Risk specializing in Construction, Energy, Products and Habitational.

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