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Today’s Insurance News
Source: Insurance Journal
Fired Moody’s Executive Wins Back Paris Job, Gets $1.8 Million Payout
Gaspard Sebag - January 16, 2019, 12:32 pm
A Moody’s Corp. managing director fired for lashing out at a junior co-worker who criticized his team’s work won his Paris job back and a 1.6 million-euro ($1.8 million) payout. Moody’s France fired the managing director in March 2015 after …
HDI Global Taps McDonald from Allianz as UK and Ireland Managing Director
- January 16, 2019, 12:03 pm
HDI Global SE (HDI) has appointed Claire McDonald as managing director of its UK and Ireland operations. She will assume the role on March 18, 2019. McDonald will join the company from Allianz Global & Corporate Specialty SE where she …
UK-EU Divorce in Disarray with Just 10 Weeks to Go Before Brexit Leave Date
Andrew MacAskill - January 16, 2019, 11:37 am
Prime Minister Theresa May on Wednesday will try to forge consensus in parliament on a Brexit divorce agreement after the crushing defeat of her own deal left Britain’s exit from the European Union in disarray 10 weeks before it is …
Singapore’s Grab Makes Foray into Insurance with Chubb as Provider: Opinion
Andy Mukherjee, Bloomberg View - January 16, 2019, 11:22 am
After sending rival Uber Technologies Inc. packing from Singapore and other Southeast Asian markets, homegrown ride-hailing firm Grab Pte. has set itself a stiffer target. It wants to be a regional super-app. Think of it as a digital conglomerate that …
Multiple Smaller Natural Disasters in 2018 Created ‘Unusual’ Insured Loss Picture: Willis
- January 16, 2019, 11:08 am
Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018 are slightly less than half of those …
Court Upholds $440 Million Patent Infringement Judgment Against Apple
Jan Wolfe - January 16, 2019, 8:00 am
A U.S. appeals court on Tuesday upheld a judgment worth $440 million that was won by intellectual property licensing firm VirnetX Inc. against Apple Inc. in a patent infringement case. The U.S. Court of Appeals for the Federal Circuit denied …
RLI Promotes Mesco, Campen, Irish in Claim Department
- January 16, 2019, 6:27 am
Illinois-based specialty insurance company, RLI Corp. has promoted three leaders within its Claim department. Nic Mesco, assistant vice president, Claims, has been promoted to vice president, Claims, with executive leadership responsibility for RLI’s Casualty product claims. Mesco joined RLI in …
New Florida Gov Signs Order to Fight Algae, Red Tide
Brendan Farrington - January 16, 2019, 6:16 am
Republican Gov. Ron DeSantis began following up on a campaign promise to make the environment a priority by signing an order last week seeking to tackle Florida’s problems with blue-green algae in its rivers and red tide off its coast. …
Big 3 Drive Personal Auto Insurance Recovery; Signs of Rate Hike Fatigue Ahead
- January 16, 2019, 6:00 am
Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a report. The market improvement was driven by the three biggest auto insurers. The U.S. personal …
Montana Hospital Pays $10M to Settle Suit Over Radiology Services
- January 16, 2019, 6:00 am
A Bozeman hospital has paid out $10 million to settle a federal lawsuit that accused its radiology department of fraud. The Bozeman Daily Chronicle reported that recently unsealed court documents show Bozeman Health Deaconess Hospital paid about $7.2 million to …
U.S. Charges Traders, Ukrainian Hackers with Stealing SEC Filings on Corporations
Jonathan Stempel - January 16, 2019, 6:00 am
U.S. authorities on Tuesday charged a suspected Ukrainian computer hacker and several traders with scheming to trade on market-moving corporate earnings news stolen from a U.S. Securities and Exchange Commission database. The charges against 10 defendants, including two charged criminally, …
AAIS Adds Carrier, Regulator Reporting Features on Blockchain Platform
- January 16, 2019, 5:39 am
AAIS (American Association of Insurance Services), a not-for-profit insurance advisory organization, has added additional features to its openIDL blockchain platform, including: improved data call transparency and communication capabilities specifically designed for insurance regulators; enriched core data sets; and innovative blockchain …
Kentucky High Court Finds Medical Malpractice Review Panels Unconstitutional
Christopher J. Robinette and Dani Wachtel - January 16, 2019, 5:24 am
The Kentucky Supreme Court struck down last month Kentucky’s Medical Review Panels Act, which was enacted by the General Assembly in 2017, returning the process of reviewing medical malpractice claims back to the state courts for the foreseeable future and …
Willis Towers Watson Taps Oppenheim to Lead Southeast Construction Practice
- January 16, 2019, 5:21 am
Willis Towers Watson has appointed Jonathan Oppenheim as regional Construction leader in its Southeast region, part of the company’s North American Construction business. Oppenheim, a 30-year industry veteran, joins the company from JLT Specialty U.S.A., where he most recently served …
May’s Brexit Deal Rejected by Parliament in Landslide Vote
Flavia Krause-Jackson - January 15, 2019, 11:51 pm
Prime Minister Theresa May’s Brexit deal was rejected by Parliament in a humiliating defeat, her plan for leaving the European Union all but dead. She now faces a confidence vote in her government. The House of Commons voted 432- 202 …
CSAA in California Names Evans VP of Regulatory and Government Affairs
- January 15, 2019, 8:44 pm
CSAA Insurance Group has named Katherine Evans president of regulatory and government affairs. Evans will oversee all areas of CSAA Insurance Group’s government and regulatory practices, and will report to the company’s chief legal officer, Mike Zukerman. Evans has been …
Alabama Chiropractor Gets 3 Years in Trucker Health Exam Fraud Case
- January 15, 2019, 5:57 pm
An Alabama-based chiropractor, who was accused in a scheme to conduct fraudulent physical examinations on prospective long-haul truckers and submit false documents to federal transportation regulators, has been sentenced to more than three years in prison. Chief U.S. District Judge …
North Carolina Gov. Declares Emergency to Deal with Power Outages
- January 15, 2019, 5:43 pm
Utility crews worked late into Sunday to restore power to western North Carolina residents and businesses that lost electricity due to freezing rain and sleet this weekend. Duke Energy and electric cooperatives reported about 63,000 customers still were without power …
Greenlight Re Invests Further in Chicago’s AccuRisk Solutions
- January 15, 2019, 5:38 pm
Greenlight Capital Re Ltd. (Greenlight), a specialist property and casualty reinsurance company headquartered in the Cayman Islands, announced it is again investing in the Chicago-based managing general underwriter (MGU) AccuRisk Solutions LLC (AccuRisk). Greenlight Re made an initial investment in …
AM Best: Credit Rating Outlook Negative for Atain Insurance Cos.
- January 15, 2019, 5:23 pm
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICRs of “a+” of Atain Specialty Insurance Co. and Atain …
TDI Shares Consumer Concerns About Contractors, Roofers with Lawmakers
- January 15, 2019, 5:21 pm
While not making any specific recommendations to lawmakers regarding the licensing of building and roofing contractors, the Texas Department of Insurance noted in its 2018 Biennial Report to the Legislature that the department has “heard concerns about roofing and contractor …
Michigan’s AF Group Promotes 5 in Leadership Positions
- January 15, 2019, 5:17 pm
Lansing, Michigan-based AF Group has promoted five in key leadership positions across the organization. Abel Travis has been promoted to vice president, Underwriting & Product Innovation. Prior to joining AF Group in April 2018, Travis was assistant vice president and …
Nelson Named President of Dallas-Fort Worth RIMS Chapter
- January 15, 2019, 5:07 pm
Penni Nelson has been named president of the Dallas-Fort Worth chapter of the Risk and Insurance Management Society (RIMS) for 2019, the Surplus Lines Stamping Office of Texas (SLTX) announced. Nelson is a member of the SLTX board of directors. …
Magnitude 3.6 Earthquake Shakes Part of Northern Oklahoma
- January 15, 2019, 5:01 pm
The U.S. Geological Survey says an earthquake shook parts of northern Oklahoma early in the morning on Jan. 14. Geologists say the 3.6 magnitude earthquake was recorded at 2:20 a.m. Monday near Waukomis, about 80 miles northwest of Oklahoma City. …
PG&E Restructuring Highlights California’s Inverse Condemnation Rule
Jessica DiNapoli, Mike Spector and Scott DiSavino - January 15, 2019, 4:47 pm
PG&E Corp.’s chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep the utility owner perpetually on the hook for liabilities from catastrophic wildfires even beyond the more than $30 billion …
Swiss Re Estimates Its Q4 Natural Catastrophe Claims to Hit US$1.0B
- January 15, 2019, 4:35 pm
Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane Michael. These natural disaster claims will mainly affect its Reinsurance …
Insurance Regulators’ Group NAIC Names 2019 Key Committee Leaders
- January 15, 2019, 4:04 pm
The National Association of Insurance Commissioners (NAIC) has named its 2019 committee chairs and vice chairs. The association of state insurance regulators also assigned members to its standing committees. “The 2019 NAIC committee leadership reflects deep expertise and a strong …
5.0M Alaska Temblor Confirmed as Aftershock of Large Anchorage Quake
- January 15, 2019, 4:00 pm
A 5.0 magnitude earthquake that rattled Alaska residents through the Anchorage area and beyond was confirmed as an after aftershock of the magnitude 7.0 Anchorage earthquake that struck on Nov. 30, 2018. There were no immediate reports of damage or …
Three Boats Go Up in Flames at Boston Marina
- January 15, 2019, 2:53 pm
A fire at a Boston marina likely strengthened by diesel fuel heavily damaged three boats, sinking two of them. Fire department officials say a woman was on one of the boats, but escaped unharmed. There were no reports of injuries. …
Rhode Island Restaurant Shut Down After Shooting
- January 15, 2019, 2:48 pm
Providence, R.I., officials have temporarily shut down a restaurant where a patron opened fire. The city Board of Licenses says they held an emergency meeting Sunday and approved a request from city police to shut down La Sonrisa Cafeteria for …

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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