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Today’s Insurance News
Source: Insurance Journal
California Workers’ Comp Rating Bureau Exploring Blockchain, Behavioral Science
Don Jergler - June 22, 2018, 6:18 pm
One wouldn’t normally associate blockchain with workers’ compensation, two completely different industries that seem worlds apart. But as it turns out, the technology is of value to at least one very important entity in the space. The Workers’ Compensation Insurance …
Colorado Hailstorm Carries $169M Insurance Price Tag
- June 22, 2018, 6:10 pm
Thousands of Fountain and Colorado Springs, Colo. area residents have spent the past week cleaning up and meeting with insurance adjusters after an unusual early morning June 13 storm pounded vehicles and roofs golf and baseball-sized hail. The storm caused …
Alaska Marijuana Regulators to Discuss Onsite Use
- June 22, 2018, 3:22 pm
Alaska regulators are set to discuss proposed rules for allowing onsite consumption of marijuana at certain shops in August. Regulators have gone back and forth on onsite use, adopting rules in late 2015 to allow people to use marijuana at …
How Insurance Plans Contribute to Opioid Epidemic: Johns Hopkins Study
- June 22, 2018, 3:10 pm
Health care insurers including Medicare, Medicaid and major private insurers have not done enough to combat the opioid epidemic, suggests a study led by researchers at Johns Hopkins Bloomberg School of Public Health. The Bloomberg School researchers examined major insurers’ …
Motorcyclist Hit by Police SUV in California to Get $12M
- June 22, 2018, 3:09 pm
Officials in Oakland, Calif. have agreed to pay $12 million to a motorcyclist who lost a leg and was badly hurt when struck by a police vehicle that allegedly ran a red light. The East Bay Times reported that the …
Phillies Fan Injured by Flying Hot Dog Launched by Phanatic
- June 22, 2018, 3:04 pm
It was a flying frankfurter and not a foul ball that left a baseball fan with a black eye in Philadelphia. Kathy McVay says she was at Monday night’s Phillies game when the team’s mascot, the Phillie Phanatic, rolled out …
Tropical Weather System Drenches South Texas, Flooding Reported
- June 22, 2018, 3:02 pm
The entire Texas coastline has been drenched this week with heavy rains resulting in flooding in many areas with several cities reporting rainfall totals in excess of 12 inches. The Insurance Council of Texas is issuing a reminder that record …
Police Say Uber Driver Was Streaming Hulu Before Self-Driving Car Crash in Arizona
Heather Somerville and David Shepardson - June 22, 2018, 2:53 pm
Police in Tempe, Arizona said evidence showed the “safety” driver behind the wheel of a self-driving Uber was distracted and streaming a television show on her phone right up until about the time of a fatal accident in March, deeming …
Most Global Organizations Fail to Learn from Cyber Mistakes: WTW Survey
- June 22, 2018, 2:29 pm
A majority of executives around the world feel their organizations can do better when it comes to learning from their past cyber mistakes, according to the results of a global survey conducted by The Economist Intelligence Unit (EIU) and Willis …
Federal Judge Rules Against Consumer Financial Bureau Structure
Brendan Pierson - June 22, 2018, 1:42 pm
A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts. The decision by U.S. …
Chubb Announces Changes to North America Agriculture Unit Leadership
- June 22, 2018, 1:26 pm
Chubb has announced leadership appointments in its North America Agriculture business, which includes commercial property/casualty insurance and the crop insurance franchise, Rain and Hail. Michael Coleman will assume the role of chairman of Chubb Agriculture and chairman of Rain and …
Boston Approves NuTonomy Self-Driving Car Testing Citywide
- June 22, 2018, 1:18 pm
A self-driving car company is getting the green light to test its vehicles on a Colonial-era street network with a reputation for aggressive human drivers. Boston city officials announced Wednesday that they’ve granted permission to NuTonomy to test its autonomous …
Northern New England Storms Leave Many Without Power, Spark Tornado
Stephanie Morales - June 22, 2018, 1:14 pm
More than 10,000 people were still without power Tuesday, a day after strong winds and rain from storms in northern New England sparked a tornado in New Hampshire and razed a historic barn in Vermont. Monday afternoon’s thunderstorms in New …
Surgery, Not Pharma, Is Biggest Healthcare Cost Worry: Gawande
Deena Beasley - June 22, 2018, 1:05 pm
Dr. Atul Gawande, a surgeon who was named this week to head the company being formed by Amazon, Berkshire Hathaway and JPMorgan Chase to trim employee healthcare costs, on Thursday cited surgery as the single biggest U.S. healthcare cost and …
Alliant Employee Benefits Hires Phares in Virginia
- June 22, 2018, 12:56 pm
Alliant Employee Benefits has hired Beth Phares as senior vice president. The Richmond, Va.-area consultant will work with clients throughout the Eastern region to deliver strategic employee benefits solutions that address both the physical and financial health of the organization. …
Postmates Wins New York Ruling Finding Couriers Not Employees
Joel Rosenblatt - June 22, 2018, 12:49 pm
Postmates Inc.’s couriers aren’t employees, a New York state appeals court ruled in a decision that will fuel debate about the status of workers in the gig economy. The appeals court panel in a 3-2 decision on Thursday said a …
Willis Towers Watson Launches Update of ResQ Reserving Software
- June 22, 2018, 11:37 am
Willis Towers Watson has launched a new version of its loss-reserving software, ResQ. ResQ 4.1 provides property and casualty (P/C) insurers with new reporting capabilities to further advance the software’s technical capability, in response to clients’ increasing need for faster …
U.S. Missing Out on ‘Huge Economic Opportunity’ of Climate Change Fight: Canada
Ewa Krukowska and Jonathan Stearns - June 22, 2018, 11:09 am
Canada has an environmental message for Donald Trump: you can’t stop the global campaign against climate change and you will hurt the U.S. by abandoning the battle. Canadian Environment and Climate Change Minister Catherine McKenna said countries around the world …
Flying Cars Soon to Be Tested in Germany
Stefan Nicola - June 22, 2018, 10:45 am
Germany, land of the no-holds-barred Autobahn, is pushing the next level of transportation: flying cars. Chancellor Angela Merkel’s government signed a letter of intent with executives from Volkswagen’s Audi unit and plane maker Airbus SE to test air taxis in …
8 Passengers Sue Southwest Airlines, Manufacturers Over Engine Blowout
Alana Wise - June 22, 2018, 10:34 am
Eight passengers have sued Southwest Airlines Co. over a catastrophic engine blowout in April that killed a passenger and injured several others. The plaintiffs, eight passengers from Flight 1380 on April 17 and one passenger’s husband, filed suit on Tuesday …
XL Catlin Launches Specialty Aviation Insurance in Mexico
- June 22, 2018, 10:32 am
XL Catlin announced the launch of specialty aviation insurance in Mexico. The new product suite will initially focus on general aviation hull and liability risks. With an established presence in Latin America and aviation teams in Brazil, the United States …
Timeline: More Than $1 Billion in Cryptocurrency Thefts Since September 2012
Andrea Tan and Yuji Nakamura - June 22, 2018, 10:16 am
Investors’ shaky confidence in virtual currencies took another hit after crypto exchange Bithumb, ranked seventh in the world by traded value on Coinmarketcap.com, suffered a hack that saw about 35 billion won ($32 million) worth of coins stolen. The South …
Florida Court Puts Hold On Smokable Medical Marijuana
- June 22, 2018, 4:39 am
A Florida circuit court has reinstated a stay on smoking medical marijuana. The state’s 1st District Court of Appeal has ruled that the hold will remain in effect “pending final disposition of the merits of (a recent) appeal.” The Department …
Hurricane Irma Blamed for Worst Florida Citrus Crop Since 1940s
- June 22, 2018, 4:21 am
Florida’s citrus growers are blaming Hurricane Irma for one of their worst seasons in decades. In a Naples Daily News report, U.S. agriculture officials said Florida’s orange production dropped nearly 35 percent from the previous season. Grapefruit production was half …
Chubb Adds Artisan Contractors Coverage to Small Business Online Platform
- June 22, 2018, 4:14 am
Chubb has introduced a new insurance product available to more than 60 classes of artisan contractors through its new digital platform – the Chubb Small Commercial Marketplace, which places and services small business insurance, and features a suite of products …
Mississippi Gov Appoints Michel as Director of Emergency Management Agency
- June 22, 2018, 4:08 am
Gov. Phil Bryant is naming another retired military leader to run Mississippi’s Emergency Management Agency. Bryant said on Monday said he was appointing Gregory Michel as the agency’s director. Michel was the commander of Camp Shelby in Hattiesburg from 2015 …
Louisiana Seeks to Clarify Named Storm/Hurricane Deductible Law
- June 22, 2018, 12:23 am
The Louisiana Department of Insurance has issued an advisory letter to property/casualty insurers operating in the state that seeks to clarify the interpretation and application of state law regarding policy deductibles in relation to named storms/hurricanes/subtropical storms. Advisory Letter No. …
Sea Level Rise Puts $117.5B at Risk from Chronic Flooding
Don Jergler - June 22, 2018, 12:04 am
Those interested in risk management are starting to take climate change a bit more seriously. The evidence is anecdotal, but for that proof one can just ask Phil Renaud, executive director for the Risk Institute at Ohio State University, a …
Arthur J. Gallagher Buys Marchetti, Robertson & Brickell Insurance and Bonding Agency
- June 21, 2018, 11:59 pm
Illinois-based Arthur J. Gallagher & Co. has acquired Marchetti, Robertson & Brickell Insurance and Bonding Agency Inc., with offices in Ridgeland, Mississippi, and Kansas City, Missouri. Terms of the transaction were not disclosed. Founded in 1953, Marchetti, Robertson & Brickell …
Artist Sues NRA for Using Chicago’s ‘Bean’ Sculpture in video
- June 21, 2018, 11:41 pm
The artist behind Chicago’s famous bean-shaped sculpture has filed a federal lawsuit accusing the National Rifle Association of copyright infringement by using an image of his work in a video advertisement last year. Anish Kapoor’s lawsuit filed in the U.S. …

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