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Today’s Insurance News
Source: Insurance Journal
Austin Association of Insurance Professionals Installs 2018 Officers And Directors
- May 17, 2019, 8:06 pm
The Austin Association of Insurance Professionals held their 2019 installation dinner on Tuesday at Balcones Country Club in Austin, Texas. The 2019/20 officers and directors for AAIP were installed. In addition, the AAIP past presidents in attendance were recognized, and …
Louisiana House Gives Nod to Medical Marijuana Inhaler Bill
- May 17, 2019, 8:02 pm
Louisiana’s medical marijuana patients would be able to inhale cannabis, if senators agree to a proposal that won overwhelming support from lawmakers in the House. Rep. Ted James, a Baton Rouge Democrat, says his bill shouldn’t be seen as an …
Frederick H. DiMeo Acquires Ozwald and Speaker in California
- May 17, 2019, 7:59 pm
The Frederick H. DiMeo Insurance Agency Inc. has purchased the personal lines division of Oakland, Calif.-based Ozwald and Speaker Insurance Services Inc. The acquisition includes the purchase of six books of business, adding a reported $1.2 million of written premium …
Ohio Launches Campaign Urging Safety Belt Use by Drivers
- May 17, 2019, 2:49 pm
The Ohio State Highway Patrol has begun a campaign urging Ohio motorists to wear their safety belts. The patrol says troopers will be encouraging drivers to “buckle up” to save lives. A statement released by the patrol this week says …
Nearly $1M Settlement in Wyoming Shooting of Man
- May 17, 2019, 2:47 pm
A city in Wyoming has settled a lawsuit over a fatal shooting by two police officers. Attorneys for the estate of John Randall Veach said Tuesday they settled the lawsuit for $925,000 in damages. Rawlins Police Sgt. Jared Frakes and …
Lawsuit Says Utah Bus Driver Was Sick, Tired Before Fatal Crash
- May 17, 2019, 2:45 pm
A Greyhound driver who authorities say fell asleep before the bus careened off a road in the Utah desert two years ago was tired, sick and should never have been behind the wheel, according to a new lawsuit over the …
London Marine Insurers Expand Middle East Threat Zone After Saudi Ship Attacks
Jonathan Saul - May 17, 2019, 2:42 pm
London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums. …
Insurer Says Iran’s Guards Likely Facilitated Saudi Tanker Attacks: Reuters
Jonathan Saul and Gwladys Fouche - May 17, 2019, 2:29 pm
Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers’ report seen by Reuters. The UAE, Saudi …
California Bill to Expand Customer Ability to Sue over Handling of Data Fails
Katie Paul - May 17, 2019, 2:26 pm
California’s senate blocked a bill on Thursday that would have expanded the ability of consumers to sue companies over their handling of personal data, a win for tech industry groups concerned about wide-ranging privacy lawsuits. Under California’s data privacy law, …
AXA XL Names Bertha to Lead U.S. East Region Multinational Casualty Group
- May 17, 2019, 1:45 pm
AXA XL has promoted Marc Bertha as team lead for the U.S. Eastern Region Multinational Casualty group. Based in New York, Bertha will be leading the region’s underwriting team whose overall mission is to partner with new and existing clients …
First Connecticut Crumbling Foundation Repaired with State’s Help
- May 17, 2019, 1:41 pm
Work has been completed on the first Connecticut home with a crumbling foundation, using funds from a captive insurance company created by the General Assembly in 2017. It took about six weeks to replace Kevin and Aisling McCloskey’s basement in …
Eight Days After Cyberattack, Baltimore’s Network Still Hobbled
David McFadden - May 17, 2019, 1:31 pm
More than a week after a cyberattack hobbled Baltimore’s computer network, city officials said Wednesday they can’t predict when its overall system will be up and running and continued to give only the broadest outlines of the problem. Baltimore’s government …
Prosecutor Says Limo Company Operator Knew of Vehicle Problems in New York Crash
- May 17, 2019, 1:27 pm
Prosecutors say the limousine company operator charged in connection with an upstate New York crash that killed 20 people was aware of prior passenger complaints about the ill-fated vehicle and had even refunded fares. In a document filed last week …
Sompo Global Risks Forms Life Sciences Team Led by Ex-OneBeacon Exec Lauer
- May 17, 2019, 12:46 pm
Sompo Global Risk Solutions (GRS) has formed a new team offering insurance to clients in the life sciences industry. The GRS Life Sciences team is led by Todd Lauer who has joined Sompo GRS as senior vice president. Lauer brings …
Senators Urge Allies to Heed Trump’s Warning on China’s Huawei
Todd Shields and Daniel Flatley - May 17, 2019, 12:34 pm
U.S. senators warned allies that Chinese telecommunications companies such as Huawei Technologies Co. can’t meet security standards for advanced networks due in part to Chinese law that demands cooperation with security agencies. “There is no way in hell China can …
Brazil’s Vale Warns Another Mine Tailings Dam at Risk of Collapse
Marta Nogueira - May 17, 2019, 11:34 am
Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 …
Aon Makes Leadership Changes in Global Reinsurance Clients Team
- May 17, 2019, 10:23 am
Aon plc announced organizational changes within its Global Reinsurance Clients team, which supports 25 of the largest global insurers. Part of Aon’s Reinsurance Solutions business, the team was launched in 2014 to ensure that the firm consistently delivers the full …
Jet-Powered Flying Taxi Completes Debut Flight Near Munich
Christopher Jasper - May 17, 2019, 9:33 am
The world’s first all-electric vertical takeoff and landing passenger jet has been unveiled after completing its first flight. German startup Lilium aims to have a fleet of the five-seat aircraft — which can operate with a pilot or in drone …
AM Best Affirms Ratings of Third Point Re While Revising Outlook to Negative
- May 17, 2019, 8:04 am
AM Besthas revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Bermuda-based Third Point Reinsurance Co. Ltd. (TPRE) and Third Point Reinsurance …
Bank of England Warns Against Weakening Rules for Insurers, Banks After Brexit
Huw Jones - May 17, 2019, 7:30 am
Weakening rules for banks and insurers after Brexit would be “anathema,” but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on Thursday. “So as far as the stringency …
Boeing 737 Max Crashes Could Cost European Insurers $450 Million
Will Hadfield and Patrick Winters - May 17, 2019, 7:25 am
Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate that Chief …
Update: Georgia Gov Suspends Insurance Commissioner Beck Over Indictment
Amy O'Connor - May 17, 2019, 7:14 am
Georgia Governor Brian Kemp has suspended Insurance Commissioner Jim Beck from his position while he faces a 38-count indictment from a federal grand jury. On May 16, Kemp issued an executive order suspending Beck, effective immediately. The order came in …
Willis Towers Watson’s Ross and Team to Join Higginbotham in Oklahoma City
- May 17, 2019, 5:39 am
Higginbotham has forged an agreement with with Willis Towers Watson, under which Fort Worth-based Higginbotham will acquire an Oklahoma City group of insurance professionals led by broker Richard Ross who formerly were with Willis Tower Watson. The transaction expands Higginbotham’s …
Bills Proposing Climate Change Studies Stall in Texas Legislature
Carlos Anchondo, The Texas Tribune - May 17, 2019, 5:26 am
A few months before this year’s biennial legislative session, a report commissioned by Gov. Greg Abbott on lessons learned from Hurricane Harvey declared a dire need to “future-proof” the state. Some progressives hoped that might involve planning for climate change …
Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation
Nick Daugherty - May 17, 2019, 5:24 am
In Missouri, insurance companies owe a contractual duty to defend civil actions that allege liability of their insureds that is potentially covered under the terms of the subject insurance policy. As part of that duty, the insurer must act in …
Proposed Ohio Bill Bars Towing Services from Hiring ‘Spotters’
- May 17, 2019, 5:20 am
A bill that would prohibit towing services from hiring “spotters” to report illegally parked vehicles is up for consideration in an Ohio House committee. A spotter as described in the bill is a person whose task is to report the …
Louisiana Court: Law Doesn’t Prohibit Forum Selection Clause in Commercial Policy
Stephanie K. Jones - May 17, 2019, 5:16 am
The Louisiana Supreme Court has determined that state law does not expressly prohibit a clause in a commercial property insurance policy that specifies that any coverage dispute ending up in litigation must be heard in a forum, or venue, named …
‘Pooey Puitton’ Lawsuit Against Louis Vuitton Goes Nowhere
Jonathan Stempel - May 17, 2019, 5:00 am
Louis Vuitton has won the dismissal of a lawsuit by a California toy company that accused the French luxury goods maker of trying to interfere with its sales of a poop-shaped toy purse for children, Pooey Puitton. U.S. District Judge …
Bayer’s Strategy on Roundup Litigation Rests on EPA Glyphosate Finding
Tina Bellon - May 17, 2019, 5:00 am
Bayer AG plans to argue that a $2 billion jury award and thousands of U.S. lawsuits claiming its glyphosate-based weed killer Roundup causes cancer should be tossed because a U.S. regulatory agency said the herbicide is not a public health …
5 More States Sue Purdue Over OxyContin Marketing
Erik Larson and Jef Feeley - May 17, 2019, 5:00 am
Purdue Pharma LP and its billionaire owners are being sued by five more states alleging the company’s aggressive marketing of the OxyContin painkiller triggered a vast addiction epidemic that has claimed hundreds of thousands of lives in the U.S. The …

The Amynta Group Announces Acquisition of ClearView Risk Holdings.

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

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