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Today’s Insurance News
Source: Insurance Journal
Texas Yogurt Company Founder Gets 5 Years in Prison for Arson
- January 29, 2015, 3:55 pm

The founder of a popular yogurt company is in prison after admitting he set the business ablaze in a fit of anger over investors’ handling of the company. The Dallas Morning News reports a judge has sentenced 56-year-old Edgar Diaz …

The article Texas Yogurt Company Founder Gets 5 Years in Prison for Arson appeared first on Insurance Journal.

Consultant: Lafayette Parish Needs 15 Fire Stations
- January 29, 2015, 3:51 pm

A consultant says 15 additional fire stations are needed in unincorporated parts of Louisiana’s Lafayette Parish to protect citizens and keep insurance costs down. Tom Cassisa, a fire rating consultant hired by Lafayette Consolidated Government, presented the findings Tuesday of …

The article Consultant: Lafayette Parish Needs 15 Fire Stations appeared first on Insurance Journal.

Chubb Sued for $60M by Owners of Ohio Mansion Destroyed by Fire
- January 29, 2015, 3:44 pm

The owners of a southwest Ohio mansion that burned to the ground last year are suing their insurance company for almost $60 million for allegedly not honoring their claims. Court documents show homeowners Jeffrey and Maria Decker filed the lawsuit …

The article Chubb Sued for $60M by Owners of Ohio Mansion Destroyed by Fire appeared first on Insurance Journal.

Builders Association Sues over Minnesota’s Residential Sprinkler Law
- January 29, 2015, 3:41 pm

The Builders Association of the Twin Cities is suing the state over a new sprinkler mandate. The law which took effect requires a sprinkler system for all new homes that are 4,500 square feet or larger. The Builders Association says …

The article Builders Association Sues over Minnesota’s Residential Sprinkler Law appeared first on Insurance Journal.

Pro Athletes Durant, Watt to Endorse Wisconsin-Based American Family Insurance
- January 29, 2015, 3:33 pm

Oklahoma Thunder forward Kevin Durant and Houston Texans defensive lineman J.J. Watt have signed endorsement deals with Madison, Wisconsin-based American Family Insurance, the company said. Durant, the NBA’s most valuable player last season, is the first NBA player American Family …

The article Pro Athletes Durant, Watt to Endorse Wisconsin-Based American Family Insurance appeared first on Insurance Journal.

4.2 Magnitude Quake Recorded in Northern Oklahoma
- January 29, 2015, 3:30 pm

A 4.2 magnitude earthquake shook part of Grant County in northern Oklahoma on Jan. 27. The U.S. Geological Survey says the 4.2 magnitude earthquake was recorded shortly before 10 a.m. about 13 miles south-southeast of Medford at a depth of …

The article 4.2 Magnitude Quake Recorded in Northern Oklahoma appeared first on Insurance Journal.

Zehr Appointed VP, Segment Underwriting at CNA
- January 29, 2015, 3:25 pm

Chicago-based CNA Financial Corp. has appointed Jeff Zehr as vice president, segment underwriting. In this position, he will expand his responsibilities to include leadership and governance for the commercial lines products for both the financial institutions and the professional services customer segments. …

The article Zehr Appointed VP, Segment Underwriting at CNA appeared first on Insurance Journal.

Dartmouth College Considering Campus Ban on Serving Hard Liquor
- January 29, 2015, 2:52 pm

Dartmouth College is considering banning hard liquor on campus as part of a series of measures to curb student alcohol abuse and sexual assault. President Philip Hanlon is expected to propose the change in a speech Thursday, according to a …

The article Dartmouth College Considering Campus Ban on Serving Hard Liquor appeared first on Insurance Journal.

Highway Deaths in Kentucky Increased in 2014
- January 29, 2015, 2:06 pm

State officials say highway fatalities in Kentucky increased last year after a record low in 2013. The Kentucky Office of Highway Safety says preliminary figures show that 667 people died on Kentucky roadways last year, up from 638 the year …

The article Highway Deaths in Kentucky Increased in 2014 appeared first on Insurance Journal.

Water Being Restored in West Virginia Town Affected by Diesel Spill
- January 29, 2015, 2:05 pm

Officials in southeastern West Virginia began turning the water back on Monday evening for about 12,000 Lewisburg area residents who lost service after a diesel fuel spill. The Bureau of Public Health notified the city it could restart its water …

The article Water Being Restored in West Virginia Town Affected by Diesel Spill appeared first on Insurance Journal.

North Carolina Restarts Debate Over Moped Regulations
Gary D. Robertson - January 29, 2015, 2:04 pm

The debate over regulating mopeds in North Carolina resumed Tuesday as legislators heard new rule suggestions from the Division of Motor Vehicles just months after the General Assembly mandated owners register the vehicles. DMV Commissioner Kelly Thomas said lawmakers also …

The article North Carolina Restarts Debate Over Moped Regulations appeared first on Insurance Journal.

Willis, Clark Thomson in Commercial Network Tie; SME Transfer
- January 29, 2015, 2:02 pm

Willis Group Holdings announced that Scottish independent broker, Clark Thomson Insurance Brokers Ltd (CTIB), has agreed to join Willis Commercial Network (WCN) in a deal that includes the purchase of Willis’s Commercial business unit in Scotland, which focuses on small …

The article Willis, Clark Thomson in Commercial Network Tie; SME Transfer appeared first on Insurance Journal.

Canopius Expands U.S. Business, Adds Ironshore’s Winfield
- January 29, 2015, 1:04 pm

Canopius Group Limited, the global specialty insurance and reinsurance platform of Sompo Holdings, is expanding its its U.S. operations with the appointment of Bradley Winfield as head of U.S. Direct Property. Bradley joins Canopius from Ironshore, where he was most …

The article Canopius Expands U.S. Business, Adds Ironshore’s Winfield appeared first on Insurance Journal.

Lawmakers Revive Export-Import Bank Legislation
- January 29, 2015, 12:50 pm

A group of U.S. Republican lawmakers introduced a bill on Wednesday to extend the term of the U.S. export credit agency for five years past its current June deadline. The Export-Import Bank, which provides support to U.S. exporters and the …

The article Lawmakers Revive Export-Import Bank Legislation appeared first on Insurance Journal.

ACE Reports $827 Million Q4 Operating Income; $3.3 Billion Full-Year
- January 29, 2015, 10:44 am

ACE Limited reported Q4 operating Income of $827 Million and record full-year Earnings of $3.3 Billion, up 4.7 percent per share. Net income for the fourth quarter ended December 31, 2014, was $1.66 per share, compared with $2.90 per share …

The article ACE Reports $827 Million Q4 Operating Income; $3.3 Billion Full-Year appeared first on Insurance Journal.

New Analysis Reveals Political Risk Exposures around the World: Willis
- January 29, 2015, 10:41 am

Willis Group Holdings has published a new analysis from Oxford Analytica in the form of the “VAPOR Political Risk Model,” which, it said, “helps companies assess the financial exposure to a suite of political risks for the first time. As …

The article New Analysis Reveals Political Risk Exposures around the World: Willis appeared first on Insurance Journal.

Research Shows Climate Change Will Cause More Extreme La Niña’s
- January 29, 2015, 10:33 am

Pacific Ocean La Niña events that trigger droughts in the U.S. Southwest, floods in China and raise the chances for tropical systems in the western part of the basin, as well as in the Atlantic, will likely occur twice as …

The article Research Shows Climate Change Will Cause More Extreme La Niña’s appeared first on Insurance Journal.

AirAsia Plane Rose to Unauthorized Altitude Minutes before Crash
- January 29, 2015, 10:28 am

AirAsia Bhd. Flight 8501 climbed to an unauthorized altitude fast and steep before the aircraft fell into the ocean, Indonesian investigators said in their first description of the last moments of the ill-fated plane. From a cruising altitude of 32,000 …

The article AirAsia Plane Rose to Unauthorized Altitude Minutes before Crash appeared first on Insurance Journal.

P/C Insurers’ Surplus Rose, Profitability Fell in 2014′s First 9 Months
- January 29, 2015, 1:00 am

The first nine months of 2014 saw policyholders’ surplus for the U.S. property/casualty insurance industry reach record levels. At the same time, net income after taxes declined substantially and overall profitability took a noticeable dip. As well the annualized rate …

The article P/C Insurers’ Surplus Rose, Profitability Fell in 2014′s First 9 Months appeared first on Insurance Journal.

Super Bowl Spells 77% Rise in Alcohol-Related Vehicle Crashes in California
- January 28, 2015, 10:43 pm

Super Bowl Sunday is among the most dangerous days to venture onto California roads as gatherings for the game at parties or restaurants prompt drivers to consume alcohol. More drinking-related crashes happen in California on the day of the National …

The article Super Bowl Spells 77% Rise in Alcohol-Related Vehicle Crashes in California appeared first on Insurance Journal.

CNA Names Middleton Business Development Leader For Los Angeles
- January 28, 2015, 10:36 pm

CNA Financial Corp. has named Chris Middleton business development leader in Los Angeles. Middleton is responsible for leading the execution of distribution management and sales initiatives. Middleton has more than 14 years of experience, including a period in business development …

The article CNA Names Middleton Business Development Leader For Los Angeles appeared first on Insurance Journal.

United Insurance Acquires Shiretown Agency in Maine
- January 28, 2015, 10:24 pm

United Insurance, an independent insurance agency headquartered in Falmouth, Maine, announced the acquisition of the Shiretown Agency in Farmington, Maine. Terms of the transaction were not disclosed. United Insurance has 16 Maine locations and one in Rochester, New Hampshire. The …

The article United Insurance Acquires Shiretown Agency in Maine appeared first on Insurance Journal.

Metromile Insurance Option for Uber Drivers Approved by California Commissioner
- January 28, 2015, 8:09 pm

California Insurance Commissioner Dave Jones has approved a filing that will enable Uber drivers purchasing coverage through Metromile to add a new coverage endorsement to their personal auto policy. That endorsement will provide insurance coverage during the pre-match period when …

The article Metromile Insurance Option for Uber Drivers Approved by California Commissioner appeared first on Insurance Journal.

Delaware OKs Decreases in WC Voluntary Loss Cost, Residual Market Rate
- January 28, 2015, 7:24 pm

Delaware Insurance Commissioner Karen Weldin Stewart today announced the approval of the Delaware Compensation Rating Bureau’s (DCRB) workers’ compensation amended rate filing, resulting in overall average decreases of 9.7 percent in the residual market rate and 11.5 percent in the …

The article Delaware OKs Decreases in WC Voluntary Loss Cost, Residual Market Rate appeared first on Insurance Journal.

Court Says Directors Liable for Poorly Managed Companies
- January 28, 2015, 7:00 pm

A decision this week from U.S Court of Appeals in Philadelphia provides good reason for directors to resign from poorly managed companies to avoid personal liability, even if someone else is making the mistakes. The case indirectly stands for the …

The article Court Says Directors Liable for Poorly Managed Companies appeared first on Insurance Journal.

P/C Insurance Pros Under Pressure to Predict Super Bowl Scenarios
- January 28, 2015, 6:53 pm

Property/casualty insurance professionals are being asked to predict not only the winner of the 2015 Super Bowl this Sunday but also whether certain scenarios are likely to occur. Such as whether Seattle Seahawks running back Marshawn Lynch’s total yardage in …

The article P/C Insurance Pros Under Pressure to Predict Super Bowl Scenarios appeared first on Insurance Journal.

N.J. Official: State’s Ailing Roads, Bridges Costing Drivers Billions of Dollars
- January 28, 2015, 5:59 pm

In the wake of the partial closure of a heavily traveled bridge in northern New Jersey last week, the state’s Transportation Commissioner Jamie Fox warned that the state’s failing roads and bridges cost drivers billions of dollars as the state …

The article N.J. Official: State’s Ailing Roads, Bridges Costing Drivers Billions of Dollars appeared first on Insurance Journal.

XL Group Introduces New Excess Executive Liability Form
- January 28, 2015, 5:58 pm

XL Group has developed a new excess “follow form” insurance policy to provide the option of buying an additional layer of professional liability insurance protection. According to Kelly Lyles, chief executive of XL Group’s Global Professional team, potential defense costs …

The article XL Group Introduces New Excess Executive Liability Form appeared first on Insurance Journal.

Willis North America Appoints Peiser Head of Casualty Broking
- January 28, 2015, 5:49 pm

Willis North America announced the appointment of Joe Peiser as head of Casualty Broking. In this newly created role, Peiser will be responsible for the strategic direction of Willis North America’s casualty insurance offerings including workers’ compensation, primary and excess …

The article Willis North America Appoints Peiser Head of Casualty Broking appeared first on Insurance Journal.

Berkshire’s Commercial Insurer Hires AIG, Chubb Execs to Enter Canada Market
- January 28, 2015, 5:39 pm

Berkshire Hathaway Inc.’s commercial insurance unit is expanding into Canada as it seeks to win over new clients by offering bigger coverage limits than competitors. The unit, Berkshire Hathaway Specialty Insurance, said it hired Darryl DeSouza from American International Group …

The article Berkshire’s Commercial Insurer Hires AIG, Chubb Execs to Enter Canada Market appeared first on Insurance Journal.

Southwest Risk, LP is proud of the many new team members who joined the company in 2014 and January 2015: Catherine Butschek, Jackie Cavazos, Theresa Dworaczyk, Presten Ellsworth, Shannon Flowers, Mike Harris, Wade Kotrla, Kat Krasner, Holly May, Andrew Taylor, Ryan Taylor, Chad Thibodeaux and Wade Wrobel.

2015 is on target to be another exciting year of growth and expansion. We are ready start construction on a new Houston office and continue to actively recruit seasoned insurance professionals to join our winning team!