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Today’s Insurance News
Source: Insurance Journal
Watchdog Report: North Carolina Delayed Spending Federal Hurricane Matthew Funds
Amanda Morris - May 24, 2019, 4:58 pm
Administrative mistakes and a lack of expertise caused delays in North Carolina’s spending of federal funds for Hurricane Matthew recovery, according to a report released Monday from the General Assembly’s government watchdog agency. The non-partisan Program Evaluation Division also found …
Recovery Begins in Missouri’s Capital After Tornado Sweeps Area
David A. Lieb - May 24, 2019, 4:30 pm
A tornado tore apart buildings in Missouri’s capital city as part of an outbreak of severe weather across the state overnight that left at least three people dead and dozens injured. The National Weather Service confirmed that the large and …
Speedy Reactor Cleanups May Carry Both Risks and Rewards
Bob Salsberg - May 24, 2019, 4:14 pm
Companies specializing in the handling of radioactive material are buying retired U.S. nuclear reactors from utilities and promising to clean them up and demolish them in dramatically less time than usual – eight years instead of 60, in some cases. …
Oklahoma’s Opioid Trial Against Drugmakers J&J, Teva Set to Begin
Nate Raymond - May 24, 2019, 4:13 pm
Gail Box vividly remembers the day in May 2011 when she first learned her 22-year-old son Austin, a University of Oklahoma linebacker, was abusing opioid painkillers: It was the day he died of an overdose. In a few months he …
GuideOne in Iowa Names Pearson Sr. VP, Chief Underwriting Officer
- May 24, 2019, 4:00 pm
West Des Moines, Iowa-based GuideOne Insurance has appointed Doug Pearson senior vice president and chief underwriting officer. In this role, Pearson is responsible for niche product management, home office underwriting, underwriting compliance and business systems. Pearson brings extensive underwriting and …
CFC Designs New Broker Platform for Its Cyber Insurance Products
- May 24, 2019, 2:49 pm
Specialist insurer CFC is debuting a new broker platform designed to facilitate the sale of its cyber insurance products to small- and medium-sized businesses. The idea is that London, UK-based company’s cyber insurance platform will enable brokers to instantly access …
Alaska City Votes to Adopt Climate Action Plan
- May 24, 2019, 2:03 pm
The Anchorage Assembly has adopted a climate action plan setting goals for the Alaska city. Alaska Public Media reported that the city officials voted this week to adopt the 100-page document outlining aims such as reducing carbon emissions by 80 …
Forecasters Say Hawaii May Have Busy Hurricane Season
- May 24, 2019, 2:00 pm
Hawaii and the Central Pacific could experience more storms than normal during this year’s hurricane season. The National Oceanic and Atmospheric Administration predicted Wednesday there will be five to eight named tropical cyclones in the region from June 1 through …
Arizona Claim Seeks $45M for Incapacitated Woman Who Gave Birth
- May 24, 2019, 1:56 pm
Lawyers for an incapacitated woman who later gave birth at a Phoenix long-term care facility have filed a $45 million notice of claim against the state. The precursor to a lawsuit says the woman allegedly was raped repeatedly before giving …
FAA ‘Very Encouraged’ by Talk with World’s Regulators on Grounded Boeing 737
Alan Levin and Justin Bachman - May 24, 2019, 1:23 pm
The chief U.S. aviation regulator said he was very encouraged by a one-day discussion with his counterparts from around the world on the steps needed to return Boeing Co.’s grounded 737 Max jetliner to service, including the need for additional …
As Many as 8 Hurricanes Forecast for ‘Near Normal’ 2019 Hurricane Season
Brian K. Sullivan - May 24, 2019, 1:00 pm
As many as 8 hurricanes may form in the Atlantic in 2019, a “near normal” season following two years of storms that have left a trail of death and destruction in the Caribbean and U.S. coast. Nine to 15 named …
VOOM Raises $5M to Expand On-Demand Insurance for Episodic Mobility Usage
- May 24, 2019, 12:19 pm
VOOM, the Tel Aviv-based on-demand, telematics-based insurance platform for drones and other specialized mobility services such as e-scooters, announced it has closed a $5 million Series A funding round. The round was led by Arbor Ventures with participation from returning …
Pianist Injured in Massachusetts Building Facade Collapse Files Lawsuit
- May 24, 2019, 12:14 pm
An aspiring concert pianist whose career was likely ended when she lost a finger and suffered other severe injuries when a Boston restaurant’s brick and concrete facade collapsed on her has sued. The Boston Globe reports that the suit filed …
Big I New York Elects Cofini as Board Chair
- May 24, 2019, 12:12 pm
Big I New York, the state’s independent insurance producer trade association, has elected John Cofini as its chair of the board for the 2019-2020 term. Cofini was sworn in during a May 21 ceremony at Big I New York’s Go …
Rochester Property Owner Indicted for Defrauding Banks, Insurance Companies
- May 24, 2019, 12:09 pm
Prominent upstate New York landlord Robert Morgan is charged in a 114-count federal indictment with defrauding banks and insurance companies out of millions of dollars by inflating property values and insurance claims while managing his expansive real estate portfolio. The …
UK Prime Minister to Resign on June 7, Paving Way for Possible No-Deal Brexit
Elizabeth Piper, William James and Kylie MacLellan - May 24, 2019, 11:03 am
Fighting back tears, Theresa May said on Friday she would quit, setting up a contest that will install a new British prime minister who could pursue a cleaner break with the European Union. May’s departure deepens the Brexit crisis as …
Ransomware Attacks Skyrocketed in Q1: Beazley
- May 24, 2019, 9:36 am
Ransomware attacks skyrocketed in the first quarter of 2019, according to the Beazley Breach Response (BBR) Services team, which reported a 105% increase in the number of ransomware attack notifications against clients compared to Q1 2018. In Q1 2019, the …
Generali to Sell Life Run-Off Portfolio of UK Branch to Reinsurance Group of America
- May 24, 2019, 8:44 am
Generali has signed an agreement to sell the life run-off portfolio of its UK Branch to a subsidiary of Reinsurance Group of America Inc., the St. Louis, Mo.-based life and health reinsurance company. The run-off portfolio, which consists of mainly …
Deadly African Swine Fever Now `Endemic’ in Two Regions of China: UN
Jason Gale - May 24, 2019, 8:11 am
China’s attempts to control African swine fever have been insufficient to stem further spread of the disease, with the deadly pig contagion now endemic in two regions, a United Nations group said. The virus that causes the disease is entrenched …
State Auto Innovation Unit: $25M; 5 Insurtechs; 18 Months
- May 24, 2019, 5:26 am
State Auto Labs, the innovation arm of the State Automobile Mutual Insurance Co., says in the 18 months after launching its $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry, it has invested in five …
Auto Insurance Drives Personal Lines Improvement
- May 24, 2019, 5:00 am
U.S. personal lines insurance saw strong premium growth of 8% in 2018 and the sector’s statutory combined ratio of 99% for 2018 represented the market’s best results since 2013, according to a new special report from Fitch. “Strong performance was …
Managing Sexual Harassment Risk in the #MeToo Era
Andrew G. Simpson - May 24, 2019, 5:00 am
Since October 2017 when the #MeToo era began and sexual harassment claims against Hollywood mogul Harvey Weinstein were revealed, insurers have seen an uptick in not only the number but also the size of sexual harassment claims. “[W]e’re going into …
Weinstein, Accusers Reach Tentative $44 Million Deal, Reports WSJ
- May 24, 2019, 5:00 am
Harvey Weinstein, women who accused him of sexual misconduct, his former film studio’s board members and the New York attorney general’s office have reached a tentative $44 million deal to resolve lawsuits and compensate alleged victims of the Hollywood producer, …
The Hanover Adds Watercraft Coverage to Personal Lines Product Suite
- May 24, 2019, 4:59 am
The Hanover Insurance Group, Inc. has expanded its suite of personal lines insurance products to include a new watercraft insurance offering. As part of the new offering, The Hanover’s watercraft product will offer: Broadened range of coverage for watercrafts including …
Gulfstream Insurance Co. of Florida Appoints Natherson President, CEO
- May 24, 2019, 4:56 am
Gulfstream Property and Casualty Insurance Co. has appointed Ronald E. “Nate” Natherson, Jr. as president and CEO. Natherson joins Gulfstream having previously served as chief operating officer for Southern Oak Insurance Co. in Ponte Vedra Beach, Fla. He has more …
Florida Governor Signs AOB Reform Bill; Law to Take Effect July 1
Amy O'Connor - May 24, 2019, 4:32 am
Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …
Cost of Flood-Prone Home Buyouts in Missouri, Elsewhere: $5B and Rising
David A. Lieb - May 24, 2019, 1:04 am
The residents of the small riverside town of Mosby, Missouri, have become accustomed to watching floods swamp their streets, transform their homes into islands and ruin their floors and furniture. Elmer Sullivan has replaced his couch, bed and television. He’s …
Oklahoma Senate OKs Workers’ Comp Reforms; Bill Goes to Governor
- May 24, 2019, 12:52 am
The Oklahoma Senate has approved legislation that makes changes to Oklahoma’s workers’ compensation system that lawmakers say will preserve and strengthen reforms adopted in 2013. An increase in benefits paid to injured workers is included among the provisions of House …
Mississippi River’s Morganza Floodway May Be Opened for Third Time Ever
Brian K. Sullivan - May 23, 2019, 10:11 pm
A major barrier that keeps the Mississippi River in its current path may be opened for just the third time in its history, potentially flooding a large part of rural Louisiana. Concern is growing that heavy rains will cause the …
Gorst & Compass in California Names Mulford Senior Transportation Broker
- May 23, 2019, 8:13 pm
Chatsworth, Calif.-based Gorst & Compass has named Kristi Mulford a senior transportation broker/underwriter. Mulford, who is based in San Marcos, has 18 years of commercial auto insurance experience. She was previously a broker with R.E. Chaix & Associates. She was …

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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