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Today’s Insurance News
Source: Insurance Journal
Texas Senate OKs Bill That Preempts Local Texting While Driving Rules
Stephanie K. Jones - July 28, 2017, 4:16 pm
The Texas Senate has approved a beefed-up texting while driving ban that preempts existing local ordinances against distracted driving in 45 cities statewide. In May, the Republican-controlled Legislature made Texas one of the country’s last states to outlaw texting while …
California Commissioner Counters AGs, other Commissioners over Climate Initiative
Don Jergler - July 28, 2017, 3:46 pm
California Insurance Commissioner Dave Jones has fired off a letter to the 12 oil state attorneys general and one governor from states like Texas and Oklahoma over threats to sue him if he did not stop his Climate Risk Carbon …
Mercury Names Most Affordable Electric Vehicles to Insure in California
Don Jergler - July 28, 2017, 3:27 pm
Mercury Insurance put together a list of the 10 most affordable electric vehicles to insure, and Fiat, Kia and Nissan models top the list. Mercury researchers examined the 2017 electric vehicles available at car dealerships today or in the near …
Oak Hill Capital Partners to Acquire Controlling Position in California-based EPIC
Don Jergler - July 28, 2017, 3:04 pm
Private equity firm Oak Hill Capital Partners has agreed to acquire all of The Carlyle Group’s stake in EPIC Insurance Brokers & Consultants, giving Oak Hill a controlling equity position in EPIC. Oak Hill’s investment will enable EPIC to continue …
Senators Question If Trump Advisor, AIG Investor Icahn Plays Role in ‘Too Big to Fail’
Andrew G. Simpson - July 28, 2017, 2:20 pm
Two prominent U.S. Democratic senators are raising questions about President Donald Trump’s special adviser, Carl Icahn, asking in a letter on Thursday if the activist investor is attempting to persuade the government to lift its “too big to fail” tag …
Verisk to Acquire Merchant Payments Risk Platform G2 Web Services
Andrew G. Simpson - July 28, 2017, 2:06 pm
Data analytics firm Verisk Analytics has agreed to acquire G2 Web Services, a provider of merchant risk intelligence for acquirers, commercial banks and other payment system providers. The purchase price is $112 million, which will be paid in cash to stockholders of …
Federal Uncertainty Could Impact Pennsylvania Individual Market, Miller Says
- July 28, 2017, 1:41 pm
Pennsylvania insurers are seeking a statewide average rate increase of 8.8 percent for individual plans and 6.7 percent for small group plans, but this could be adversely affected by actions taken by the Trump Administration or Congress against the Affordable …
Woman Injured After Fall From Delaware Boardwalk Ride
- July 28, 2017, 1:40 pm
A woman has been hospitalized after falling from a ride at a boardwalk amusement park in Delaware. WXDE reported that the 49-year-old woman suffered lacerations to her head and complained of pain on her left side. The incident occurred Monday …
Vullo Calls on Insurers, Congress for Action in Wake of Lake Ontario Flooding
- July 28, 2017, 1:33 pm
As part of New York’s continuing response to flooding in the Lake Ontario region, the New York State Department of Financial Services (DFS) is reminding property and casualty insurers of their responsibility to work toward fair and speedy resolution of …
Pennsylvania’s KMRD Partners Hires Salmon to Risk Management Team
- July 28, 2017, 1:18 pm
KMRD Partners, a Warrington, Penn.-based boutique risk management and human capital solutions firm, has hired Kirk Salmon to its risk management team. As a sales and relationship manager, Salmon will work closely with select prospects to evaluate their current risk …
French Firefighters Begin to Contain Wildfires
L.S. Howard - July 28, 2017, 12:36 pm
French authorities are close to containing one of the fiercest blazes to break out during four days of wildfires in the country’s southeast that have led to the evacuation of more than 12,000 people. The fires in Bormes-les-Mimosas calmed Thursday morning because …
Senate Republicans Fail in Bid to Repeal Obamacare
Andrew G. Simpson - July 28, 2017, 12:33 pm
A months-long effort by Senate Republicans to pass health legislation collapsed early Friday after GOP Senator John McCain joined two of his colleagues to block a stripped-down Obamacare repeal bill. “I regret that our efforts were simply not enough, this …
Wells Fargo Insurance Accuses Failed Bidder Alliant of Poaching Executives
Andrew G. Simpson - July 28, 2017, 12:21 pm
Alliant Insurance Services Inc. is using confidential information obtained during a failed bid for Wells Fargo & Co.’s commercial insurance business to poach top sales executives, according to a lawsuit filed by a Wells Fargo unit. The lawsuit, filed on Wednesday in Delaware’s Court …
ILS Issuance in Q2 Breaks New Record at $6.3B: Willis Towers Watson
- July 28, 2017, 10:47 am
Non-life insurance-linked securities (ILS) issuance reached a record-breaking $6.3 billion in Q2 2017, continuing the trend from the first quarter of the year, according to a report by Willis Towers Watson Securities, the investment banking business of Willis Towers Watson. …
FM Global Names Tranquillo as SVP EMEA/APAC, Johnson as VP Asia Region
- July 28, 2017, 9:08 am
FM Global, the Johnston, R.I.-based commercial property insurer, has made key changes to its management team, moving Stefano Tranquillo and David M. Johnson into new roles in EMEA/Asia Pacific and the Asia region. Stefano Tranquillo has been appointed senior vice …
Heavy Rains Bring Flooding to Northern Germany, Forcing Evacuations
L.S. Howard - July 28, 2017, 7:20 am
Heavy rains led to flooding Wednesday in some parts of northern Germany, forcing some evacuations and prompting residents to pile sandbags in front of their homes to protect themselves from a swollen river. The center of the town of Goslar, in the …
Democratic Republic of Congo to Open $500M Insurance Industry to Investors
L.S. Howard - July 28, 2017, 7:11 am
The Democratic Republic of Congo’s insurance regulator is preparing to open up an industry for the first time that could be worth as much as $500 million a year to investors. The newly created Insurance Regulatory Authority, known by the …
Viewpoint: Employers Rejecting Marijuana Users Will Pay a Price
Andrew G. Simpson - July 28, 2017, 5:00 am
In Youngstown, Ohio, the employment problem is not a shortage of jobs. Nor is it a shortage of workers. The problem is not stingy employers who don’t want to pay enough to attract good workers. Nor is the problem that …
From Here to Autonomy: Morality and Retirement Timeline for Auto Insurance Pros
Andrew G. Simpson - July 28, 2017, 5:00 am
While the media, ethicists and perhaps the public like to ponder whether a self-driving car in a crisis should be programmed to hit a group of nuns crossing the street or hit a bus full of schoolkids, the drive toward …
Federal Class Action Securities Fraud Filings Set Historic Pace
- July 28, 2017, 5:00 am
Federal class action securities fraud filings hit a record pace in the first half of 2017. Over the past six months, plaintiffs initiated 226 securities fraud class actions in federal court, more than in any equivalent period since enactment of …
Florida CFO: Consumer Helpline Recovered $16.6M During First Half of 2017
- July 28, 2017, 4:26 am
Assistance provided by insurance experts working Florida’s Insurance Consumer Helpline led to the recovery of more than $16.6 million during the first half of 2017, according to a statement by Chief Financial Officer Jimmy Patronis. Helpline experts answered more than …
AmWINS Launches Site Pollution Liability Program for Small Auto Servicing Firms
Amy O'Connor - July 28, 2017, 4:11 am
AmWINS Program Underwriters has launched a new stand-alone site pollution liability program to offer a streamlined alternative for small auto servicing entities to obtain site pollution liability coverage. The program, known as Dealer Pollution Advantage, is available nationally and is …
School Bus Cameras Can Implicate Speeding Drivers Under New N.C. Law
Amy O'Connor - July 28, 2017, 4:04 am
North Carolina motorists could be fined at least $400 if they pass a stopped school bus, according to a new law now in effect. Gov. Roy Cooper on Tuesday signed into law legislation that he suggested while still attorney general. …
U.S. Risk Acquires Strategic Insurance Underwriters of Florida
Amy O'Connor - July 28, 2017, 4:00 am
U.S. Risk Insurance Group, LLC, a property and casualty wholesaler, has acquired Strategic Insurance Underwriters, a specialist trucking MGA and broker headquartered in Sarasota, Fla. Strategic Insurance Underwriters has a 34-year history of offering tailored insurance products to the trucking …
Portion of Hospital Parking Garage in West Virginia Collapses; Injures 3 Workers
- July 28, 2017, 4:00 am
A hospital spokesman says three construction workers have been injured when a small section of a hospital parking garage collapsed in West Virginia. Charleston Area Medical Center spokesman Dale Witte says crews were pouring concrete when part of a floor …
1 Dead, Several Hurt in Ride Malfunction at Ohio State Fair
Stephanie K. Jones - July 28, 2017, 1:40 am
At least one person was killed and several others injured when a ride malfunctioned on opening day of the Ohio State Fair, fire officials said. Some of the victims were thrown from the Fire Ball ride when it malfunctioned Wednesday …
Independent Insurance Agents of Texas Names New Board Members, Top Young Agent
Stephanie K. Jones - July 28, 2017, 1:33 am
The Independent Insurance Agents of Texas (IIAT) elected William Page of Wortham Insurance in Austin; Brad Hempkins of Hempkins Insurance in Allen; and Nathan Sawyer of Sawyer & Associates in Monahans to its board of directors during the association’s recent …
ONI Risk Partners Acquires Green Owens Insurance in Indiana
Stephanie K. Jones - July 28, 2017, 1:26 am
ONI Risk Partners (ONI), headquartered in Indianapolis, Ind., is acquiring Franklin, Ind.-based Green Owens Insurance (Green Owens). In business since 1979, the Green Owens team joins ONI’s 300-plus insurance professionals serving business and individual clients throughout Indiana, Illinois and Kentucky. …
Wisconsin’s United Heartland Names 3 Top Territory Agencies
Stephanie K. Jones - July 28, 2017, 1:19 am
New Berlin, Wis.-based workers’ compensation insurance company, United Heartland, has announced its top territory insurance agencies for 2016. United Heartland’s three 2016 Agency of the Territory winners: TIS Insurance Services Inc. – Knoxville, Tenn.; MJ Insurance Inc. – Indianapolis, Ind.; …
OPTIS Partners: Insurance Agency Mergers, Acquisitions Still Going Strong
Stephanie K. Jones - July 28, 2017, 1:08 am
Mergers and acquisitions (M&As) among North American insurance agencies continued at a strong pace during the second quarter of 2017, with 135 reported transactions in the second three months of 2017, Chicago-based OPTIS Partners reports. There were 185 deals in …

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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