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Today’s Insurance News
Source: Insurance Journal
$8.6B Worth of Homes at High or Extreme Risk from California Fires
- November 16, 2018, 10:22 pm
A report out on Friday shows 23,044 homes with a total reconstruction cost value of $8.6 billion are at high or extreme risk of wildfire damage within the perimeters of the Camp Fire in Northern California and the Woolsey Fire …
Delle Joins Missouri’s Town and Country Insurance Agency
- November 16, 2018, 5:55 pm
Troy, Missouri-based Town and Country Insurance Agency has hired Angie Delle as a Medicare specialist and producer. Delle will handle everything from Centers for Medicare & Medicaid Services (CMS) compliance and field underwriting to customer service and personal insurance reviews. …
Early Snowstorm Shuts Down Schools, Businesses in Eastern Missouri
- November 16, 2018, 5:48 pm
Snow arrived early in eastern Missouri this year, forcing hundreds of schools and many businesses to close on Nov. 15 and causing numerous traffic accidents. The snowstorm moved into the region Wednesday night and had dumped 4-6 inches (10-15 centimeters) …
Leicht Elected President of Texas Surplus Lines Association
- November 16, 2018, 5:39 pm
At its recent annual meeting, the Texas Surplus Lines Association Inc. elected Matt Leicht, owner/underwriter at the Houston-based wholesale insurance firm, Craig & Leicht, as the group’s president. Jennifer Mier, executive vice president with AmWINS Group in Dallas, was named …
UK Prime Minister Defiantly Battles to Save Brexit Divorce Deal – and Her Job
Costas Pitas and Alistair Smout - November 16, 2018, 5:37 pm
British Prime Minister Theresa May won the backing of the most prominent Brexiteer in her government on Friday as she fought to save a draft European Union divorce deal that has stirred up a plot to force her out of …
Michigan Man Sentenced to Prison for Staged Auto Crash Fraud Scheme
- November 16, 2018, 5:28 pm
A Michigan man who pled guilty to participating in a multi-state staged auto accident/insurance fraud scheme has been sentenced to prison, according to the United States Attorney’s Office. Marvin David Ramirez, 45, of Grand Rapids, Michigan, was sentenced to 37 …
Nearly 3.5 Tons of Chicken Salad Recalled by Houston Company
- November 16, 2018, 5:18 pm
A Houston company has recalled nearly 3.5 tons (2.72 metric tons) of ready-to-eat chicken salad that regulators say may be contaminated with listeria. The U.S. Department of Agriculture on Nov. 14 announced the recall by Ron’s Home Style Foods. The …
Arkansas Deputy Insurance Commissioner Anderson Receives NAIC Award
- November 16, 2018, 5:15 pm
Mel Anderson, deputy commissioner at the Arkansas Insurance Department (AID), has received the Robert Dineen Award for Outstanding Service and Contribution to the State Regulation of Insurance from the National Association of Insurance Commissioners (NAIC). A 20-year veteran of the …
S&P Says Insurers And Reinsurers Can Absorb Losses from California Wildfires
- November 16, 2018, 3:55 pm
S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large wildfires in the state against a …
CREST Insurance Group in Arizona Names Perrin COO
- November 16, 2018, 3:30 pm
CREST Insurance Group LLC of Arizona has named Heather Perrin chief operations officer. Perrin will reside at the company headquarters located in Tucson, Ariz., and will oversee operations at the Arizona branches located in Scottsdale, Flagstaff, and Sierra Vista as …
California Judge Sets Date for Next Next Monsanto Cancer Trial
Tina Bellon - November 16, 2018, 3:23 pm
A California judge has granted an expedited trial in the case of a California couple suffering from cancer who sued Bayer AG’s Monsanto unit, alleging the company’s glyphosate-containing weed killer Roundup caused their disease. The order by Superior Court Judge …
New York Clinic Owner, Doctor, Attorney Arrested for Insurance Fraud Scheme
- November 16, 2018, 3:02 pm
The owner, doctor and attorney involved with a medical clinic in Brooklyn, N.Y., have been charged for their alleged participation in a $1 million auto insurance fraud scheme. New York State Attorney General Barbara D. Underwood announced a 61-count indictment …
Liberty Mutual Restructures Distribution for Commercial & Specialty Products
- November 16, 2018, 2:59 pm
Liberty Mutual has introduced a new distribution model for the U.S. in an effort to improve broker access to the insurer’s full suite of commercial and specialty insurance products. Shaun Kelly, president Global Risk Solutions Distribution, said in a statement …
Deutsche Bank, BofA, JPM Drawn into Danske Money Laundering Probe: Sources
Christian Berthelsen, Tom Schoenberg and Jonathan Browning - November 16, 2018, 2:53 pm
Deutsche Bank AG and Bank of America Corp. have been contacted by U.S. criminal investigators for information about transactions they handled for a small bank branch in Estonia that’s at the center of one of the biggest money-laundering investigations in …
Parts of Northern New England Hit with Heavy, Wet Snow
- November 16, 2018, 2:24 pm
More than 6 inches of heavy, wet snow fell in parts of northern New England on Tuesday in one of the first significant snowfalls of the season. Caledonia and Essex counties in northeastern Vermont reported 4 inches to 7.5 inches, …
New South Carolina Jury Fails to Reach Verdict in Talc Cancer Case Retrial
Tina Bellon - November 16, 2018, 2:21 pm
A second South Carolina jury on Thursday failed to reach a verdict in the retrial of a case by a woman whose family said her long-term use of Johnson & Johnson’s baby powder led to her death from asbestos-related cancer. …
Massachusetts Lawmakers Set Hearings on Natural Gas Disaster
- November 16, 2018, 2:03 pm
The Massachusetts Senate has scheduled two oversight hearings next month on issues stemming from the September natural gas explosions and fires in three communities. Senate leaders say the first hearing, planned for Dec. 4 in Boston, will examine the overall …
Boeing Defends 737 Safety as First U.S. Lawsuit Filed Over Lion Air Crash
Bob Van Voris - November 16, 2018, 1:50 pm
Boeing Co. has been sued in what may be the first U.S. claim tied to the crash of Lion Air Flight 610, which dove into the Java Sea after taking off from Jakarta Oct. 29. Irianto, the father of Dr. …
Tokio Marine’s Sale of Reinsurance Units to Boost Operational Efficiency: Fitch
- November 16, 2018, 12:35 pm
Tokio Marine Holdings Inc.’s (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group’s underwriting businesses, Fitch Ratings said. RenaissanceRe Holdings is buying Tokio Millennium Re AG (TMR) and Tokio …
Indian Tech Billionaire’s Exit Pulls Corporate India Deeper into #MeToo Firestorm
Bruce Einhorn and Bhuma Shrivastava - November 16, 2018, 11:21 am
The surprise resignation of an Indian tech billionaire has pulled corporate India deeper into the #MeToo firestorm that’s been sweeping through the American business community for more than a year. Walmart Inc. announced Tuesday that Flipkart co-founder Binny Bansal was …
Travelers Partners with Contractor, Tech Firm on Wearables for Construction Safety
- November 16, 2018, 11:00 am
The Travelers Companies has partnered with contractor company Gilbane, and Triax Technologies, a provider of Internet of Things (IoT) construction technology, to explore the potential safety benefits of wearable devices. According to the companies, Travelers will review data collected from …
Hard Brexit Could Cost UK 6% of GDP, IMF Warns
David Milliken - November 16, 2018, 8:48 am
Leaving the European Union without a transitional trade deal would cost Britain about 6 percent of GDP — roughly four years of economic growth — compared with staying in the bloc, the International Monetary Fund said on Wednesday. The IMF, …
Hamilton Re Taps Hiscox’s Roache as Head of Risk XS
- November 16, 2018, 8:22 am
Hamilton Re Ltd., the Bermuda platform for Hamilton Insurance Group, announced that David Roache has joined the company in the position of senior vice president, head of Risk XS. Roache, who will report to reinsurance chief underwriting officer, Tim Duffin, …
Hardline Brexiteers Bet UK Can Defy Trade-Gravity Theory with No-Deal Brexit
David Goodman - November 16, 2018, 7:52 am
The U.K.’s hardline Brexit backers are making their move. If they get their way on new trade arrangements, they’ll face a test of gravity. Many of those plotting to oust Prime Minister Theresa May also favor reverting to basic World …
Insurance Industry Kept Promises to Hurricane Victims; Now Tested by Wildfires
Tom Super - November 16, 2018, 6:00 am
Between the devastating wildfires in California and the destructive forces of Hurricanes Florence and Michael on the East Coast earlier this fall, the property/casualty insurance market has been put to the test this season. The challenge has been greater for …
Jobless Ranks May Be Inflated by Millions of Gig Workers
Katia Dmitrieva - November 16, 2018, 6:00 am
The hardest people to pin down in America’s labor market may be the gig workers: How many hours do they put in, where, and just how many are out there? The Labor Department, in a report Wednesday, said there are …
Kentucky Woman Gets 5 Years, Ordered to Pay $1.6M for Crop Insurance Fraud
- November 16, 2018, 5:55 am
A Kentucky woman was sentenced to five years in prison and ordered to pay $1.6 million in restitution for crop insurance fraud. The U.S. attorney’s office in Lexington said 63-year-old Debra Muse of the Wallingford community in Fleming County was …
West Virginia Gov Makes 3 Appointments to Miners’ Health Safety Office
- November 16, 2018, 5:50 am
West Virginia Gov. Jim Justice has made three appointments to the state’s Office of Miners’ Health Safety and Training. The Charleston Gazette-Mail reports that Justice said in a news release that he appointed Eugene White to replace the retiring Greg …
Worldwide Facilities Adds Davis to Brokerage Team in Atlanta
- November 16, 2018, 5:47 am
Worldwide Facilities, a national wholesale insurance brokerage, managing general agent and program underwriter, has added Angela Davis as a healthcare broker to its brokerage team. Davis began her insurance career in 2003; prior to joining Worldwide Facilities, Davis served as …
ProWriters Launches Online Cyber Insurance Portal
- November 16, 2018, 5:16 am
ProWriters has launched Cyber Insurance Portal exclusively for insurance agents and brokers that is designed to streamline the insurance comparison process by allowing brokers to instantly compare rates for their clients from multiple carriers. The Cyber Insurance Portal offers agents …

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