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Today’s Insurance News
Source: Insurance Journal
House Republicans Report Progress on Another Health Plan to Replace Obamacare
Andrew G. Simpson - April 26, 2017, 6:49 pm
The conservative House Freedom Caucus that helped derail the GOP’s effort last month to repeal Obamacare has formally endorsed a revised measure, potentiality giving it a new lease on life. “While the revised version still does not fully repeal Obamacare, we …
Alabama Community Unveils Memorial For 14 Residents Lost in 2011 Twisters
Amy O'Connor - April 26, 2017, 4:57 pm
Overcast skies and a misty rain mirrored the mood of this tiny community as it came together to remember the 14 Lawrence County residents who died in the April 27, 2011, tornadoes. “They will never be forgotten,” an emotional Kristi …
31 Students Awarded Scholarships from Insurance Council of Texas
Stephanie K. Jones - April 26, 2017, 4:49 pm
The Insurance Council of Texas (ICT) Education Foundation recently awarded a total of $34,500 in academic scholarships to 31 students at five Texas universities. The students attend the University of Houston Main campus, the University of Houston Downtown the University …
Kansas Tightens Amusement Park Regulations after Boy’s Waterslide Death
Stephanie K. Jones - April 26, 2017, 4:46 pm
The death of a colleague’s son has spurred the governor in the often anti-regulation Kansas to toughen the state’s inspection requirements for amusement parks. A new law signed by Republican Gov. Sam Brownback strengthens the state’s amusement park regulations, which …
Contract for Louisiana Flood Aid Program Administrator to Cost $227M
Stephanie K. Jones - April 26, 2017, 4:43 pm
Louisiana’s contract with disaster recovery firm IEM to administer a homeowner flood aid program is estimated to cost $227 million. The Greater Baton Rouge Business Report says the state has completed its deal with IEM to manage the $1.3 billion …
Crashes at North Carolina Rail Crossings Down 42% in 2016
Amy O'Connor - April 26, 2017, 4:41 pm
A North Carolina rail safety group says collisions at highway crossings dropped by 42 percent in 2016. The report from North Carolina Operation Lifesaver says there were 39 collisions last year, compared with 67 in 2015. Also, the report says …
Bad: Train Clips Mirror; Worse: Louisiana Driver Opens Door, Loses It
Stephanie K. Jones - April 26, 2017, 4:40 pm
After a train clipped a side mirror off a car, the driver lost his whole door when he pulled up to another intersection and opened it to tell the crew, police in southwest Louisiana said. Nobody was hurt, and 64-year-old …
Arthur J. Gallagher Acquires Oklahoma’s Commercial Insurance Brokers
Stephanie K. Jones - April 26, 2017, 4:23 pm
Arthur J. Gallagher & Co. has acquired  Tulsa, Oklahoma-based Commercial Insurance Brokers LLC. Terms of the transaction were not disclosed. Formed in 2012, Commercial Insurance Brokers is a group of insurance producers and service personnel offering a broad range of …
Uninsured Driver Bill Signed by Oklahoma Governor
Stephanie K. Jones - April 26, 2017, 4:22 pm
Oklahoma Gov. Mary Fallin has signed legislation aimed at further reducing the number of uninsured drivers in Oklahoma. Senate Bill 115 transfers oversight of the Compulsory Insurance Online Verification System (OCIVS) for motor vehicle liability policies from the Department of …
Sealy of Minnesota to Pay $175K in Racial Harassment Case
Stephanie K. Jones - April 26, 2017, 4:19 pm
Sealy of Minnesota has agreed to pay $175,000 to resolve a charge of racial harassment filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC said an investigation found that Sealy, a mattress and box …
Wagenschutz Tapped to Lead Michigan Auto Insurance Placement Facility
Stephanie K. Jones - April 26, 2017, 4:18 pm
The Michigan Automobile Insurance Placement Facility (MAIPF) has named Mark Wagenschutz as executive director. Wagenschutz will oversee the organization’s mission to guarantee that automobile insurance is available to Michigan citizens who are unable to obtain it in the competitive market. …
Feds Grant Nearly $11M to Indiana to Fight Heroin, Opioid Abuse
Stephanie K. Jones - April 26, 2017, 4:17 pm
A federal agency has awarded Indiana nearly $11 million to fight the state’s opioid abuse crisis. The state’s funding from the Health and Human Services is among $485 million the agency recently awarded to all 50 states and several U.S. …
SEC Awards $4 Million to Whistleblower
Andrew G. Simpson - April 26, 2017, 4:17 pm
The Securities and Exchange Commission has awarded nearly $4 million to a whistleblower who tipped the agency with about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise. “Not only did this whistleblower step forward …
Chubb’s Greenberg Clarifies Criticism of Wholesale Brokers
Andrew G. Simpson - April 26, 2017, 3:53 pm
In the London and other wholesale insurance markets, the practice of some brokers bundling similar accounts into high-volume portfolios to be more efficient and attract underwriters while still expecting bigger brokerage commissions has “gone beyond reasonable,” Chubb CEO and President Evan Greenberg …
Poor Fire Safety at Two-Thirds of Schools in Oregon’s Largest City
Don Jergler - April 26, 2017, 3:20 pm
Two-thirds of schools in Oregon’s largest district lack sufficient fire safety equipment, according to records obtained by the Oregonian/OregonLive. Portland Public Schools has 60 of 89 schools lacking up-to-date alarm systems, complete fire sensor coverage or other life-saving equipment required …
Idaho City Assessing Flood Risks Prior to Federal Maps Release
Don Jergler - April 26, 2017, 3:17 pm
Boise, Idaho officials have expressed concerns with federal maps that propose adding hundreds of acres to a flood plain in the city, which could increase the cost and difficulty of buying or developing nearby property. The city disagrees with the …
Hippo Launches with Promise of 60-Second Homeowners Insurance Quote
Don Jergler - April 26, 2017, 2:02 pm
An insuretech company launched in California today with the promise of providing online homeowners insurance quotes in 60 seconds in what the Mountain View, Calif.-based company is calling “the most fundamental redesign of home insurance in recent times.” Hippo Insurance …
Despite ‘Difficult’ Environment, Chubb Q1 Profit Tops $1 Billion
- April 26, 2017, 1:54 pm
Chubb Limited reported net income for the quarter of $1.09 billion, compared with $439 million for the same quarter last year.  Operating income was $1.17 billion, compared with $1.01 billion, for the same quarter last year. The insurer’s property/casualty (P&C) combined ratio was 87.5 …
St. Joseph’s University Team Wins Spencer-RIMS Risk Management Challenge
- April 26, 2017, 1:38 pm
At the Spencer Educational Foundation reception, RIMS board director and director of global risk management and insurance at PayPal Inc., Laura Langone, announced St. Joseph’s University’s student team as the winners of the Spencer-RIMS Risk Management Challenge. The team, comprised …
Massive Maryland Fire Leads to Estimated $39M Loss
- April 26, 2017, 1:20 pm
Firefighters were still dousing hot spots Tuesday after a massive fire at a seven-story apartment building under construction near the University of Maryland. News outlets reported that firefighters were working to keep the fire that consumed the roof of the …
Sheriffs: Raise Massachusetts Pot Tax, Use Money for Addiction Treatment
Elizabeth Blosfield - April 26, 2017, 1:04 pm
Sheriffs urged Massachusetts lawmakers Monday to boost the tax consumers will pay on recreational marijuana and earmark the additional revenue for substance abuse prevention and treatment. The proposal was discussed at the final hearing of a special legislative committee that …
Many Large Investors Tackle Climate Risks with Greener Investments
L.S. Howard - April 26, 2017, 10:15 am
Most of the world’s largest asset owners have gotten the message that climate change poses a risk to their portfolios and are pivoting toward greener investments. Funds worth $27 trillion that comprise 60 percent of the world’s biggest investors are …
Ed Names Howden’s Plummer as Chairman of Property & Casualty
- April 26, 2017, 9:09 am
Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of John Plummer as chairman of Property & Casualty. Plummer takes up his role with immediate effect. Plummer brings over 30 years of experience in the insurance industry to …
Canada’s Economical Strengthens Executive Team, Realigns Operations
- April 26, 2017, 9:00 am
Waterloo, Ontario-based Economical Insurance announced two additions to its executive team. Fabian Richenberger will join the company as executive vice president, Commercial Insurance, and Kelley Irwin will join as senior vice president and chief information officer, effective May 1, 2017. …
ILS Market Continues Growth Trend in Q1 2017: Willis Towers Watson
- April 26, 2017, 8:30 am
Non-life insurance-linked securities (ILS) capital grew again in Q1 2017, continuing the trend from 2016, according to the latest ILS Market Update from Willis Towers Watson Securities, the investment banking business of Willis Towers Watson. Following a strong Q4 2016, …
Global Protectionism Risks Economic Growth: Zurich, Atlantic Council
- April 26, 2017, 8:00 am
A rise in global protectionism stemming from a backlash against free trade and globalization could have significant impact on economic growth, poverty levels and the potential for military conflict, according to a new report from the Atlantic Council and Zurich …
XL Catlin Launches A&H Cover, ‘Protect & Assist,’ for UK Firms
- April 26, 2017, 7:38 am
XL Catlin has launched “Protect and Assist,” its accident and health insurance solution designed to help UK businesses protect their people and meet their duty of care in the face of emerging risks and heightened security threats. Protect and Assist …
FM Global Chooses Luxembourg as Post-Brexit EU HQ
L.S. Howard - April 26, 2017, 7:30 am
U.S. commercial property insurer FM Global is planning a European hub in Luxembourg following Britain’s decision to leave the bloc, the head of its European division told Reuters. The mutual insurer, which earned $5.5 billion in gross premium last year, …
Supreme Court Weighs Limiting Where Corporations Can Be Sued
Andrew G. Simpson - April 26, 2017, 5:00 am
The U.S. Supreme Court on Tuesday appeared poised to clamp down on where corporations can be sued, a potential setback for plaintiffs’ lawyers who strive to bring cases in courts and locales they consider friendly. The nine justices in two …
Realities of Today’s Commercial Insurance Market: Willis Towers Watson
Andrew G. Simpson - April 26, 2017, 5:00 am
Fluid capital and ample capacity has kept the commercial insurance sector stable overall and also a buyers’ market. That reality holds despite potential regulatory and monetary policies pending in Washington, D.C. under the fledging Trump presidential administration, Willis Towers Watson …

Southwest Risk is proud to announce one of our brokers has just been named a 2016 Young Gun by Insurance Business of America. Congratulations Justin Kotrla!

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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