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Today’s Insurance News
Source: Insurance Journal
West Virginia Won’t Change Funding for State Workers’ Comp Funding in 2019
- October 22, 2018, 5:21 am
West Virginia Gov. Jim Justice says there will be no change in state funding for the state employees’ public insurance plan next year in a letter to the agency’s director. The Charleston Gazette-Mail reports Justice said in the letter that …
Lawsuit Over Fan Death at Atlanta Braves Stadium Claims Team, MLB Ignored Safety
Charles Odum - October 22, 2018, 5:17 am
In court documents filed last week in a lawsuit following the 2015 death of a fan who fell from the upper deck at an Atlanta Braves game, Nolan Ryan says guard rails at the Texas Rangers’ stadium had to be …
Conservative Ex-Google Engineer’s Bias Complaint Goes to Arbitration
Robert Burnson - October 22, 2018, 5:00 am
The engineer who sued Google after he was fired for blasting the company with allegations of anti-conservative bias won’t get his day in court after all. James Damore’s claims against the Alphabet Inc. unit will be heard behind closed doors …
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Andrew G. Simpson - October 22, 2018, 5:00 am
While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in the 30s or …
Allianz Insurance Product Protects Firms Against Clean Energy Price Swings
Brian Eckhouse - October 22, 2018, 5:00 am
Microsoft Corp. has helped develop a way to protect corporate buyers of clean power from electricity prices that go up and down with the weather. The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts …
UK Businesses Roll Back Investment as Brexit Uncertainty Bites: Survey
Alex Morales - October 21, 2018, 2:06 pm
Four-fifths of U.K. companies have cut or withheld investment because of the uncertainty caused by Brexit, Britain’s biggest business lobby said. Some 58 percent of businesses have made plans to cut jobs, adjust supply chains, relocate production and services or …
Swiss Re Weighs Investment in Chinese Insurer Anbang: Sources
Bloomberg News - October 21, 2018, 1:17 pm
Swiss Re AG has held discussions with Chinese authorities about an investment in embattled insurer Anbang Insurance Group Co., people with knowledge of the matter said. Swiss Re is among parties that have been approached as China seeks to find …
With Central, South Texas Awash in Water Governor Issues Disaster Declaration
- October 19, 2018, 4:52 pm
Texas Gov. Greg Abbott has issued a State Disaster Declaration for 18 Texas counties impacted by recent severe weather and flooding that has caused widespread property damage and threatened loss of life. The governor’s declaration comes as rain continues to …
Florida Residents Hit by Michael Return to Face Damage as Death Toll Climbs
Jay Reeves - October 19, 2018, 4:49 pm
More than a week after Hurricane Michael slammed into the Florida Panhandle, authorities are reporting three more deaths from the Category 4 storm as residents returning to their homes try to piece together their lives from the rubble left by …
DOI: Workers’ Comp Rates in Indiana to Drop Again Next Year
- October 19, 2018, 4:44 pm
Businesses in Indiana can expect to pay less for workers’ compensation insurance coverage next year, continuing a trend that has been ongoing for several years. Insurance Commissioner Stephen W. Robertson has approved an average 7.6 percent reduction for workers’ comp …
Illinois’ Cook County Board OKs $4M Medical Malpractice Settlement
- October 19, 2018, 4:24 pm
Cook County’s board of commissioners have voted for a nearly $4 million settlement of a malpractice lawsuit filed after an alleged botched heart surgery at Chicago’s Stroger Hospital. Lawyers for Jaime Flores alleged Stroger physicians made a “very unfortunate and …
JBA Risk Management Releases High-Resolution Flood Maps for Florida
- October 19, 2018, 4:23 pm
Flood specialist JBA Risk Management has rolled out its high-resolution flood maps and associated pricing data for the continental United States starting with the State of Florida. These new maps are designed to enable (re)insurers and others with an interest …
Von Bomhard Likely to Return to Munich Re – This Time as Board Chairman
- October 19, 2018, 4:12 pm
Nikolaus von Bomhard, who retired as CEO of Munich Re in April 2017, is likely to return to the German reinsurer as chairman of the supervisory board. This week, Munich Re’s nomination committee recommended to the full supervisory board that …
Arch Insurance Names Shulman CEO for North America; Other Leadership Changes
- October 19, 2018, 3:43 pm
Arch Insurance announced that Matt Shulman will assume the newly created role of CEO, Arch Insurance North America, effective January 1, 2019. In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report …
Utah Firefighting Costs This Year a Record $110M
- October 19, 2018, 3:01 pm
Utah State Forester Brian Cottam says the state’s wildfire season appears to be over and that it is adding up to be Utah’s most expensive ever. KSL-TV reported that Cottam told the Utah Executive Appropriations Committee that firefighting costs this …
Hawaii Panel Advances Vacation Rental Regulations
- October 19, 2018, 2:56 pm
A Big Island panel has advanced a measure that would prohibit short-term vacation rentals in residential and agricultural zones. The Hawaii County Council Planning Committee approved the measure’s fifth draft this week after the ordinance has been in the works …
$28M Settlement for Washington Crash Survivor
- October 19, 2018, 2:54 pm
Washington state has agreed to pay a $28 million settlement to woman who was left quadriplegic in wreck on Interstate 5 in DuPont. The News Tribune reported 20-year-old Skylar Seward filed a lawsuit against the state Department of Transportation after …
West Coast Quake Warning System up and Running
- October 19, 2018, 2:53 pm
Automated alerts from the fledgling West Coast earthquake early warning system are ready to be used broadly by businesses, utilities, schools and other entities but not for mass public notification, officials said Wednesday. “We’re making a large change from a …
Everest Re and Argo Report Net Catastrophe Loss Estimates for Q3 2018
- October 19, 2018, 2:51 pm
Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018. Bermuda-based Everest Re’s estimated catastrophe loss was $240 million, net of reinsurance. The estimate includes …
Chubb Bermuda Names Gonsalves Division President, Succeeding Clabby
- October 19, 2018, 2:36 pm
Chubb has appointed Judy Gonsalves vice president of Chubb Group and division president of Bermuda. In this capacity, she has executive operating responsibility for the Bermuda-based commercial property and casualty (P/C) insurance business that writes high-limit excess liability, property, directors …
Everest Appoints McKeon to Lead Both Risk Management, Commercial Casualty
- October 19, 2018, 2:00 pm
Everest Insurance said that Christopher McKeon, currently vice president and head of Commercial Casualty, will add leadership responsibility for the Risk Management business unit, which focuses on customized primary casualty large accounts. Risk Management and Commercial Casualty will continue to …
Danish Insurer Qudos Ceases Underwriting, Pending Restructuring
- October 19, 2018, 12:36 pm
Copenhagen-based Qudos Insurance will cease underwriting new business with immediate effect, pending a restructuring of the business, announced parent company New Nordic Advisors. New Nordic said it aims to re-launch the underwriting platform following a comprehensive audit. The restructuring project …
Google ‘Definitely’ Interested in Other Insurtech Investments Following Applied Systems
Mark Hollmer - October 19, 2018, 12:21 pm
Google is eager to invest in other insurance technology companies well beyond its newly announced minority stake in Applied Systems, a principal investor with the global search engine giant said on Oct. 17. “We really like the market,” said Jesse …
Can Go-Slow Brexit Breathe New Life into Flagging Divorce Talks?
Tim Ross and Ian Wishart - October 19, 2018, 11:37 am
The U.K. and the European Union are inching towards a plan that could help unblock Brexit negotiations and clear the path to a deal, raising hopes of progress after months of stalemate. While the EU summit in Brussels fell far …
Mad Cow Disease Confirmed on UK Farm – First Case Since 2015
Lucca de Paoli and Rudy Ruitenberg - October 19, 2018, 11:10 am
Mad cow disease has been found on a U.K. farm for the first time since 2015, raising concern that some countries may move to limit imports of British beef. The disease, also known as bovine spongiform encephalopathy or BSE, was …
Boston Cop Who Was Shot Sues Online Gun Dealer for Negligence
Polly Mosendz - October 19, 2018, 10:54 am
Armslist, an online peer-to-peer firearms dealer, was sued on Thursday by a Boston police officer allegedly shot by a convicted felon with a gun purchased on the platform. The officer, Kurt Stokinger, argued in the complaint that the website acted …
New York Is Considering Blocking Parts of $68B CVS, Aetna Merger
Blake Dodge - October 19, 2018, 10:48 am
New York state officials are considering blocking parts of the $68 billion merger of drugstore store chain CVS Health Corp. and Aetna Inc., jeopardizing billions of dollars in insurance premiums for Aetna. CVS and Aetna won approval from the U.S. …
Aon Forms New Ventures Group, Led by Chief Innovation Officer Goland
- October 19, 2018, 10:30 am
Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an …
Merchants Insurance Group’s Winkworth Named to Agents Council for Technology
- October 19, 2018, 10:27 am
Merchants Insurance Group Customer Experience Lead Ginny Winkworth has been named as co-chair of the Customer Experience Work Group of the Agents Council for Technology (ACT), a program of the Independent Insurance Agents and Brokers of America (IIABA). ACT helps …
Nearly $2M Spent on Arkansas ‘Tort Reform’ Measure, But Court Blocks It
Andrew DeMillo - October 19, 2018, 5:57 am
Arkansas’ high court has ordered election officials to not count votes for a proposal to limit damages awarded in civil lawsuits that, together, proponents and opponents have spent nearly $2 million on campaigns for and against the measure. The court …

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