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Today’s Insurance News
Source: Insurance Journal
Admitted Carriers, CanaBOP Coming to California’s Cannabis Industry
Don Jergler - October 20, 2017, 8:24 pm
The first admitted insurance carrier has filed to provide coverage to California’s legal cannabis industry and several more carriers have stated their intent to file products, according to state Insurance Commissioner Dave Jones. It also appears that standardized insurance forms …
Swiss Re Adds Management Liability Coverage for Non-Profits, Private Companies
Amy O'Connor - October 20, 2017, 4:48 pm
Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies. SwissGuard insures against directors and officers liability, employment practices liability and fiduciary liability …
Brown & Brown Acquires Louisiana Employee Benefits Firm
Stephanie K. Jones - October 20, 2017, 4:46 pm
Brown & Brown of Louisiana LLC, a subsidiary of Florida-based Brown & Brown Inc., has acquired substantially all of the assets of Lapeyre, Staples & Robichaux, the companies announced. Lapeyre, Staples and Robichaux, based in Houma, Louisiana, specializes in employee …
Texas Windstorm Insurance Association Request to Raise Liability Limits Disapproved
Stephanie K. Jones - October 20, 2017, 4:38 pm
Texas Insurance Commissioner Kent Sullivan has declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies. TWIA in August filed a request to increase the limits for …
Arkansas Officials: Highway Funding May Have to Wait Until 2019
Stephanie K. Jones - October 20, 2017, 4:25 pm
Arkansas highway officials have left open the possibility they’ll take a road funding proposal to lawmakers in 2019 rather than pursue a ballot measure next year. The move comes a day after Gov. Asa Hutchinson said he would oppose any …
Farmers in Upper Midwest Report Damage from Dicamba Herbicide
Stephanie K. Jones - October 20, 2017, 4:23 pm
Hundreds of farmers in the Upper Midwest are reporting damage from the controversial herbicide dicamba, and state officials are considering restrictions for the 2018 growing season that might surpass even new federal rules. The state agriculture departments in North Dakota, …
Iowa’s Grassley in ‘Violent Opposition’ to Withdrawal of Rule Protecting Animal Farmers
Stephanie K. Jones - October 20, 2017, 4:21 pm
The Trump administration’s decision to kill a rule designed to protect the rights of farmers who raise chickens, cows and hogs for the United States’ largest meat processors has infuriated farmer advocates, including a Republican senator from Iowa who said …
North Dakota’s Godfread ‘Excited’ About Technological Innovations in Insurance
Stephanie K. Jones - October 20, 2017, 4:06 pm
North Dakota’s insurance commissioner is bullish on the technological innovations that are occurring within the insurance industry and wants his state to be in the forefront of experimenting with and testing new insurance products and developments. Though in terms of …
Zurich’s Mulligan to Lead Aon Benfield’s U.S. Cyber Practice Group
Andrew G. Simpson - October 20, 2017, 3:20 pm
Reinsurance intermediary Aon Benfield has appointed Catherine Mulligan as managing director and U.S. Cyber Practice Group leader. Mulligan brings underwriting, policy form and product knowledge to Aon’s cyber capabilities for insurers and will be responsible for driving the team’s growth …
Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW
- October 20, 2017, 2:19 pm
ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …
Pennsylvania Fire Company Closes Following Sexual Abuse Lawsuit
- October 20, 2017, 1:28 pm
Authorities say a Pennsylvania volunteer fire company that was sued over sexual abuse by a firefighter and its alleged cover-up by fire officials has closed its fire station. Lancaster Emergency Management Agency director Randy Gockley tells LNP the West Willow …
Massachusetts’ Morrison Mahoney Elects Six New Partners
- October 20, 2017, 1:24 pm
Morrison Mahoney LLP, a Boston, Mass.-headquartered law firm, has announced the election of six new partners. The partners represent a range of practice areas including appeals, insurance coverage, construction litigation, professional liability defense, medical malpractice, fraud, transportation and employment law …
How Middle Managers Coerce Employees into Deceiving Upper Management
Andrew G. Simpson - October 20, 2017, 1:16 pm
Several recent corporate and governmental scandals — Wells Fargo and the Veterans Administration to name two — unfortunately have revolved around middle managers and employees who have attempted to meet lofty performance goals that superiors impose by engaging in deceptive …
EPIC Adds New Brokerage Team in Pittsburgh
- October 20, 2017, 1:11 pm
EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has opened operations in Pittsburgh, Penn., with the hiring of Sean Andreas, Al Dragotto, Kurt Karstens, Pete Kostorick, Sally Krauss, Zach Mendelson, Phil Wakim, …
Pennsylvania’s Kueny Insurance Merges with KMRD Partners
- October 20, 2017, 1:06 pm
Kueny Insurance, a Warrington, Penn.-based insurance company, has merged with KMRD Partners, a boutique risk management and human capital solutions firm also based in Warrington. The merger brings three new team members to KMRD with experience in small to mid-size …
Insurance Agency M&A Continues at Fast Pace: OPTIS Partners
- October 20, 2017, 12:44 pm
The number of insurance agency mergers and acquisitions over the first nine months of the year rose from 350 in 2016 to 457 this year, OPTIS Partners’ new quarterly report reveals. There were 132 deals announced during the third quarter, …
RSA Canada Taps Cohen from Aviva Canada as SVP, Chief Underwriting Officer
L.S. Howard - October 20, 2017, 7:44 am
Toronto-based RSA Canada has appointed Steve Cohen to the newly created role of senior vice president and chief underwriting officer. The SVP and chief underwriting officer role was created to build upon the progress the company has made “in advancing …
Neon Launches Marine Joint Venture in Italy
L.S. Howard - October 20, 2017, 7:18 am
Neon announced the launch of an underwriting operation in Italy with Cambiaso Risso, a leading Italian marine broker who will have a minority shareholding in the venture. Based in Genoa, Neon Italy will initially target hull and cargo business placed …
Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
L.S. Howard - October 20, 2017, 6:37 am
Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-based Swiss …
Extreme Rainfall Could Cost South Asian Cities Up to $215B Annually by 2030
L.S. Howard - October 20, 2017, 6:24 am
As global attention focused on hurricanes Harvey and Irma, more than 41 million people across South Asia battled floods and displacement. From Afghanistan in the west to Bangladesh in the east, floods could cost South Asia — home to a …
Fighting Drivers of Commercial Auto Frequency, Severity With Technology
djohnson - October 20, 2017, 5:00 am
Litigation financing, distracted driving and unexpected verdicts are just some of the factors impacting commercial auto frequency and severity, according to panelists speaking at the 2017 Risk Management Summit this week in Las Vegas. There has been a focus on …
U.S. Consumer Bureau Offers Rules for Financial Data Collection
Andrew G. Simpson - October 20, 2017, 5:00 am
The U.S. Consumer Financial Protection Bureau is turning its attention to companies that collect consumer financial information to provide services and products. The regulator laid out a series of principles on Wednesday to establish its expectations for accessing consumer’s financial …
Congress Questions Youth Football League on Safety
- October 20, 2017, 5:00 am
After hearing from brain trauma researchers who said playing football at a young age is unsafe even for kids who don’t suffer obvious injuries, members of Congress this week asked the nation’s governing body for the sport’s amateurs to detail …
GM to Pay States $120 Million to Settle Ignition Switch Claims
Andrew G. Simpson - October 20, 2017, 5:00 am
General Motors Co. has agreed to pay $120 million to resolve claims from 49 U.S. states and the District of Columbia over faulty ignition switches, state attorneys general and the company said on Thursday. The largest U.S. automaker had previously …
Nashville Keeps Winning FEMA Flood Appeals
Amy O'Connor - October 20, 2017, 4:57 am
While Federal Emergency Management Agency denials and reversals have roiled some communities following natural disasters, officials in Tennessee’s capital have been unusually successful at winning their appeals. An analysis by The Associated Press found that over the past decade, FEMA …
Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery
Amy O'Connor - October 20, 2017, 4:38 am
Rebuilding the Northern California areas devastated by wildfire will be a long-term effort, and insurers say they will be there to help their affected policyholders get back on their feet. Tens of thousands of evacuees began making their way home …
Boyd Promoted to Florida Deputy Chief Financial Officer
Amy O'Connor - October 20, 2017, 4:08 am
The Department of Financial Services’ long-time Legislative Affairs Director Elizabeth Boyd has been promoted to Deputy Chief Financial Officer, according to a statement from Chief Financial Officer Jimmy Patronis. In this new role, Boyd will oversee the Department’s legislative affairs, …
BB&T-Oswald Trippe Adds 2 Commercial Lines Producers to Florida Team
Amy O'Connor - October 20, 2017, 4:06 am
BB&T- Oswald Trippe and Company has expanded its Southeast Florida team with the addition of two new associates as commercial lines producers to assist business clients in the greater Southeast Florida area. Kelly Matacena has been named a commercial lines …
Parisotto Named Administrative Director of California Worker’s Comp Division
Don Jergler - October 19, 2017, 11:00 pm
George Parisotto has been named administrative director of the California Division of Workers’ Compensation. His appointment was made official by California Gov. Jerry Brown Jr. on Thursday. Parisotto has filled the post of acting administrative director since February 2016, following …
Early Data Shows Insured Losses from California Wildfires Already at $1B and Growing
Don Jergler - October 19, 2017, 10:01 pm
Insurance Commissioner Dave Jones today released preliminary data provided by eight California insurers processing claims for tens of thousands of policyholders that shows $1.045 billion in losses to commercial and residential structures, personal and commercial vehicles and agricultural equipment. The …

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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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