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Today’s Insurance News
Source: Insurance Journal
Protests Over Police Shooting Shut Down Downtown Charlotte
Amy O' Connor - September 23, 2016, 4:57 pm
Streets appeared calm early Thursday in downtown Charlotte after a second night of violent protests over the deadly police shooting of a black man, although at least three major businesses were asking their employees to stay home for the day …
QBE North America Adds Manufacturing E&O Endorsement to Product Liability Coverage
Amy O' Connor - September 23, 2016, 4:48 pm
QBE North America’s Commercial Insurance business has introduced a manufacturing E&O endorsement to its product liability product offering. The manufacturing E&O endorsement is a claims made coverage form providing broad coverage on a simple rating basis. This endorsement closes a …
Texas DPS Pledges to Work on Preventing Profiling of Motorists
Stephanie K. Jones - September 23, 2016, 4:41 pm
The Texas Department of Public Safety says it will regularly review traffic stop data to ensure minority motorists aren’t being stopped and searched at higher rates than white drivers. DPS now will review traffic stops for individual troopers, rather than …
Tulsa Geoscience Center Gets Earthquake Sensor; Area Now Has 3
Stephanie K. Jones - September 23, 2016, 4:25 pm
With no signs earthquakes will stop rumbling in the state anytime soon, Oklahoma museums and schools are being targeted to participate in a nationwide citizen science project that tracks — or catches — seismic activity to learn more about quakes …
Ag Disaster Declared in 24 Louisiana Parishes, 2 Texas Counties
Stephanie K. Jones - September 23, 2016, 4:15 pm
The U.S. Department of Agriculture has named 24 Louisiana parishes and two Texas counties agricultural disaster areas because of last month’s storms and flooding. Eleven parishes are primary disaster areas, and the others are adjacent to them, the Louisiana Department …
Canada’s Regulator Tightens Capital Requirements for Mortgage Insurers
L.S. Howard - September 23, 2016, 3:49 pm
Canada’s financial services regulator released new draft capital requirements for federally regulated mortgage insurers to better reflect growing risks in the country’s housing markets. The Office of the Superintendent of Financial Institutions said Friday the new requirements, which will come …
New Mexico to go after $193M in Premium Taxes
Don Jergler - September 23, 2016, 3:13 pm
New Mexico failed to collect at least $193 million in taxes on insurance premiums over the past five years, even as the state struggles this year to close a major budget shortfall, according to an independent review of collections. New …
Hailstorm Caused $4M in Damage to City in New Mexico
- September 23, 2016, 3:10 pm
A small city in southeastern New Mexico is recovering after being hit with a strong hailstorm. The Hobbs News-Sun reported that Jal was struck this weekend with hailstones bigger than golf balls that caused an estimated $4 million in damage. …
Exxon to Pay $12M to Settle over Yellowstone Oil Spill
Don Jergler - September 23, 2016, 3:08 pm
Exxon Mobil Corp. will pay $12 million for environmental damages caused by a pipeline break that spilled 63,000 gallons (238,474 liters) of crude into Montana’s Yellowstone River and prompted a national debate over lax pipeline safety rules, officials said Wednesday. …
Former California Rideshare Driver Charged with Assaulting Multiple Passengers
Don Jergler - September 23, 2016, 3:03 pm
A former driver for Uber and Lyft has been charged with sexually assaulting several women while on the job, and Southern California investigators said that there are likely more victims. An 18-year-old college student reported that she was assaulted Friday …
How Clinton, Trump Differ on Health Reform
Andrew G. Simpson - September 23, 2016, 2:50 pm
If Democrats keep the White House come November, millions of Americans could gain health-care coverage. If Republicans take it back, millions could become uninsured. A new study ran the numbers under the proposals of both U.S. presidential candidates. Donald Trump’s …
12 Extreme Weather Events of the Summer of 2016
Andrew G. Simpson - September 23, 2016, 2:42 pm
The summer of 2016 has lurched from one extreme weather disaster to another at great cost in lives and damages. Here are just some of the worst and weirdest, according to insurance statistics and meteorologists:  Flooding in China’s Yangtze Basin …
Man Charged in New Jersey Apartment Fire That Destroyed Three Buildings
- September 23, 2016, 1:27 pm
A 19-year-old has been charged with setting his former New Jersey home ablaze, leaving four firefighters hurt, three buildings destroyed and 20 residents displaced. The Jersey Journal reports a criminal complaint says Matthew Nathan was arrested Sunday afternoon and faces charges …
Advent Launches Bespoke Products U/W Unit; New Team Joins from Beazley
L.S. Howard - September 23, 2016, 1:24 pm
Lloyd’s insurer Advent announced the launch of its Bespoke Products underwriting unit, led by Paul Driver and Philip Misztela, and supported by Stuart Cowen. The new team will report to Advent CUO William Beveridge. John Marks, who founded the portfolio …
New Jersey Shore Town Still Considering Settlement for Gay Ex-Officer
- September 23, 2016, 1:14 pm
Officials in a Jersey shore town say they need more time to consider a proposed $369,000 settlement with a gay former police officer who filed a discrimination lawsuit. The Press of Atlantic City reports the Cape May City Council was …
Massachusetts’ The Hanover Insurance Group Hires Farber
- September 23, 2016, 1:07 pm
The Hanover Insurance Group Inc., a Worcester, Mass. based holding company for several property and casualty insurance companies, has appointed Jeffrey M. Farber as executive vice president and chief financial officer. Farber succeeds Eugene M. Bullis, who has served as …
Coface Appoints Murer as New Jersey Based CEO of North America
- September 23, 2016, 12:53 pm
Coface, a French trade credit insurer, has appointed Fredrik Murer as CEO of its North America region, which is headquartered in East Windsor, New Jersey. In his new role, Murer will report to Group CEO Xavier Durand. Murer is replacing …
Big ‘I’ Agents Promote McPhillips to Lobbying Team
Andrew G. Simpson - September 23, 2016, 12:45 pm
The Independent Insurance Agents & Brokers of America (Big “I”) has promoted Jennifer McPhillips to vice president for federal government affairs. McPhillips first joined the Big “I” team in 2006 after working for Rep. Leonard Boswell (D-Iowa). She has climbed …
Gibraltar Weighs Post-Brexit Reinvention if UK Loses Passporting Rights
L.S. Howard - September 23, 2016, 12:43 pm
Gibraltar, a rocky British enclave on Spain’s southern tip that has positioned itself as a springboard for finance to the European Union, may have to reinvent itself after Britain voted to split from the bloc. Fund managers and insurers have …
Massive Yahoo Breach Happened 2 Years Ago
Andrew G. Simpson - September 23, 2016, 12:25 pm
Yahoo Inc. said on Thursday that at least 500 million of its accounts were hacked in 2014 by what it believed was a state-sponsored actor, a theft that appeared to be the world’s biggest known cyber breach by far. Cyber …
R&Q Acquires U.S. Sports Captive Insurer in Runoff
Andrew G. Simpson - September 23, 2016, 12:06 pm
London’s Randall & Quilter Investment Holdings Ltd. said it has acquired United States Sports Insurance Co., a wholly owned captive insurer of USA Swimming Inc. for $2.1 million. The company being acquired was incorporated originally under the laws of Barbados …
Asta Gets Preliminary Lloyd’s Approval to Manage Blenheim Syndicate 5886
L.S. Howard - September 23, 2016, 12:05 pm
Asta, the Lloyd’s third party managing agent, announced it has received “in principle” approval* from the Lloyd’s Franchise Board to establish and manage Blenheim Syndicate 5886. Asta expects to commence underwriting policies incepting on or after Jan. 1, 2017. Nick …
Demand for Environmental Impairment Liability Cover Rises in Europe: Marsh
L.S. Howard - September 23, 2016, 11:41 am
There has been a marked increase in the number of companies purchasing environmental impairment liability (EIL) cover across Europe in recent years, mainly due to an increase in regulation and buyer awareness, according to a report published by Marsh. From …
Judge Claims Facebook Not Taking Terrorism Threat Seriously
Andrew G. Simpson - September 23, 2016, 10:40 am
A federal judge slammed Facebook Inc., saying the social media giant might not be doing enough to deter terrorists from using its platform. U.S. District Judge Nicholas Garaufis in Brooklyn, New York, also accused Facebook’s lawyers — by sending a …
Lloyd’s Insurer Advent Names Gray as Direct & Facultative Property Consultant
L.S. Howard - September 23, 2016, 9:47 am
Lloyd’s insurer Advent has appointed Jonathan Gray as consultant for its direct & facultative (D&F) property division. He takes up his role with immediate effect and will report to Nigel Fitzgerald, CEO. Gray brings more than four decades of underwriting …
Ironshore’s IronPro Launches Cyber Crime Product for English & Welsh Solicitors
L.S. Howard - September 23, 2016, 9:19 am
IronPro, Ironshore’s financial and professional lines unit, is introducing Ironshore CyberCrime and DataProtect for English and Welsh Solicitors. Paragon International Insurance Brokers, a London-and-Bermuda-based independent global insurance broker, will exclusively market this product in conjunction with cyber monitoring and alert …
Kentucky Residents Sue Over Arsenic Found Near Montgomery Co. Homes
Amy O' Connor - September 23, 2016, 5:34 am
Some residents are suing a wood treatment company that once operated a site in rural Montgomery County where the state detected higher-than-normal arsenic levels. The Lexington Herald-Leader reports Mary and John Sparks, Gwen Burns and Cole Caddell filed the civil …
Florida Gov Orders Investigation into St. Petersburg Sewage Spill
Amy O' Connor - September 23, 2016, 5:32 am
Gov. Rick Scott has ordered the Florida Department of Environmental Protection to investigate a sewage spill in St. Petersburg. Heavy rain during Hurricane Hermine overloaded the city’s sewer systems, sending millions of gallons of sewage to flow into streets and …
State of Emergency from June Floods Extended in 5 West Virginia Counties
Amy O' Connor - September 23, 2016, 5:26 am
Gov. Earl Ray Tomblin is extending a state of emergency for five West Virginia counties devastated by floods in June. Tomblin announced the extension until Oct. 21 for Clay, Greenbrier, Kanawha, Nicholas and Webster counties to ensure that state resources …
Wisconsin’s Robertson Ryan Adds Maloney, Flath and Swinton
Stephanie K. Jones - September 22, 2016, 11:46 pm
Wisconsin-based independent insurance agency, Robertson Ryan & Associates (RRA), announced it has hired Garrett Maloney, Robert Flath and Brittany Swinton. Maloney joined RRA as a vice president and is based in the Waukesha office. He is an insurance agent for property/casualty …

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!

We are also excited to announce the recent opening of a Florida location. For more information, please contact Keith Driggers and Barbara Glennon in Tallahassee.

Southwest Risk continues to actively recruit seasoned insurance professionals to join our winning team!