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Today’s Insurance News
Source: Insurance Journal
Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage
Don Jergler - July 22, 2017, 12:03 am
A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley, Calif.-based firm called Jumpstart Insurance Solutions Inc. recently …
Chubb Launches Multi-line Practice for Large Transportation Clients
Amy O'Connor - July 21, 2017, 4:59 pm
Chubb has launched a multi-line industry practice within its Major Accounts division that will provide insurance products, service and risk management options for best-in-class large risk transportation clients in the United States and Canada. Chubb’s Transportation Industry practice provides a …
Morris Reappointed to Louisiana Workers’ Comp Advisory Council
Stephanie K. Jones - July 21, 2017, 4:50 pm
Michael D. Morris of Baton Rouge has been reappointed to the Louisiana Workers’ Compensation Advisory Council. Morris is an attorney and the chief executive officer of the Louisiana Home Builders’ Association. He will serve as a representative of self-insured industries …
Hundreds Evacuate from Flooding in Western Wisconsin City
Stephanie K. Jones - July 21, 2017, 4:48 pm
Several hundred people evacuated their homes early on July 20 in the small western Wisconsin community of Arcadia where heavy rain sent a creek over its banks. The waterlogged city is part of more widespread flooding in Wisconsin and Minnesota …
Fatal Arkansas Train Accident Prompts Hazard Rating Increase
Stephanie K. Jones - July 21, 2017, 4:46 pm
The Arkansas Highway and Transportation Department has increased the hazard rating for a train crossing after the recent deaths of a couple whose car was struck by a train. ATHD Railroad Crossing Coordinator Steve Weston tells the Jonesboro Sun that …
Authority Wants 1952 Quake Anniversary to Remind Californians to Prepare
Don Jergler - July 21, 2017, 4:41 pm
Friday marks the 65th anniversary of the 1952 magnitude 7.5 earthquake that struck Kern County, Calif., considered the largest quake to strike Southern California since the 1870s. While the epicenter was on the White Wolf fault in the southern San …
Louisiana Regulators Recover $4M for Insurance Policyholders
Stephanie K. Jones - July 21, 2017, 4:37 pm
Insurance policyholders collected an additional $4 million in the first half of the year as a result of assistance provided by the Louisiana Department of Insurance (LDI). These funds are a result of staff from the LDI Office of Consumer …
Minnesota Fines 2 Insurers for Refusing to Pay Auto Accident Claims
Stephanie K. Jones - July 21, 2017, 4:33 pm
Minnesota Commerce Commissioner Mike Rothman has fined two insurance companies for violating state consumer protection laws by refusing to pay auto accident claims for damage caused by drivers they insured. In recent consent orders with the Commerce Department, American Family …
Minnesota: Farmers Insurance Exchange Overcharged Renters for Auto Coverage
Stephanie K. Jones - July 21, 2017, 4:29 pm
Minnesota Commerce Commissioner Mike Rothman has ordered an insurance company to refund more than $300,000 to Minnesota drivers who were charged higher auto insurance rates solely because they were renters rather than homeowners. According to the Minnesota Commerce Department Insurance …
Pennsylvania’s PLM Names Selfe Vice President of Information Technology
- July 21, 2017, 3:44 pm
Pennsylvania and Indiana Lumbermens Mutual Insurance Companies (PLM), a property and casualty insurance carrier based in Philadelphia, Penn., has named Erin Selfe vice president of information technology. With more than 20 years of experience, Selfe will be responsible for all …
Additional Homes at Risk as Florida Sinkhole Widens
Amy O'Connor - July 21, 2017, 3:41 pm
Florida sinkhole that swallowed two homes last week isn’t getting any deeper, but it’s getting wider, officials said Wednesday –and one resident who’s back home after being evacuated is vowing to stay unless the hole consumes her house. “I’m apprehensive, …
Academics in Hawaii Developing Flood Alert System
Don Jergler - July 21, 2017, 3:05 pm
An alert system is being developed to give West Maui residents a six-day heads up when large wave and flooding events are possible. The University of Hawaii ocean observation program will use a $500,000 federal grant to start developing the …
Alaska Fatal Airplane Crash Getting NTSB Hearing
Don Jergler - July 21, 2017, 3:03 pm
A National Transportation Safety Board investigative hearing in Alaska next month on a fatal commercial airplane crash will be the first held outside of Washington, D.C., in nearly 20 years. The board is conducting an investigative hearing Aug. 17 on …
50 Homes Destroyed in California Wildfire
Don Jergler - July 21, 2017, 3:00 pm
The town of Mariposa, with its century-old saloons and covered sidewalks, normally bustles with summer visitors on their way to Yosemite National Park but the Gold Rush-era hamlet was mostly empty as ash rained down and heavy smoke from a …
California Officials Clear Way for Reopening of Gas Field That Made L.A. Residents Sick
Don Jergler - July 21, 2017, 2:42 pm
The planned reopening of a massive Los Angeles natural gas storage facility that spewed methane for months has only renewed the fight over its future. California state officials this week cleared the way for resumption at reduced capacity in the …
GOP Senate Health Bill Would Substantially Raise Deductibles, Number of Uninsureds: CBO
Andrew G. Simpson - July 21, 2017, 1:01 pm
  The Senate Republican health bill promises lower premiums for consumers. To get there, it would require patients in standard plans to spend as much as about $13,000 upfront on their own care. The deductibles would be so high, in …
New York State Rejects City’s Request for Funds for Big Fire Costs
- July 21, 2017, 12:57 pm
A western New York city won’t be getting state aid to cover the costs linked to a massive fire at a former steel plant last fall. The blaze started Nov. 9 in a large building on the Bethlehem Steel site …
O.J. Simpson Faces $58 Million Wrongful Death Damages After Release from Jail
Andrew G. Simpson - July 21, 2017, 12:53 pm
O.J. Simpson will walk out of prison in October after nine years behind bars, but he is far from free of his financial woes. The 70-year-old football star, who won his release from a Nevada parole board on Thursday after …
Connecticut Man Gets Prison for Defrauding Investors out of $874K
- July 21, 2017, 12:36 pm
A Connecticut man will spend almost four years in prison for operating an investment scheme that defrauded people of more than $874,000. The U.S. Attorney’s office says 54-year-old Anthony Sciarra, of Wethersfield, Conn., was sentenced Wednesday in Hartford federal court. …
‘Specialize and Diversify,’ Industry Veteran Markel Tells Super Regional Insurers
Andrea Wells - July 21, 2017, 12:31 pm
Insurance is a very simple business. “You take in some money, you spend some money and you lose some money, and God willing, you have some left at the end of the day,” according to Anthony (Tony) Markel, vice chairman …
Markel Hires Ferguson to New York-Based U.S. Excess Casualty Team
- July 21, 2017, 12:28 pm
Markel Global Insurance, a division of Markel Corporation, has hired John Ferguson as a director of its New York-based U.S. Excess Casualty team. In his new role, Ferguson serves as the retail construction practice lead and is responsible for a range …
Fired OSHA Whistleblower Claims Investigator Turns Whistleblower
Andrew G. Simpson - July 21, 2017, 12:20 pm
A fired U.S. whistleblower investigator says his old employer didn’t take whistleblowers seriously enough. So he’s lodging a complaint — with the same ex-employer he claims doesn’t take whistleblower allegations seriously enough. Darrell Whitman was an investigator for the Labor …
Castel Specialty Launches Global Construction Business
- July 21, 2017, 9:39 am
Castel Specialty, a division of Castel Underwriting Agencies Ltd., has expanded its portfolio with the launch of Castel Construction. London-based Castel Underwriting Agencies, part of Barbican Insurance Group, is a club-style MGA formation platform, which supports individual underwriters with smaller …
Hannover Re Completes Purchase of Lloyd’s Business Argenta
- July 21, 2017, 9:10 am
Hannover Re has completed the acquisition of the UK holding company Argenta Holdings Ltd., which owns the companies Argenta Syndicate Management and Argenta Private Capital, as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. The …
Neon Appoints Argo’s Gibson as Reinsurance & Alternative Capital Director
- July 21, 2017, 8:29 am
Neon announced it has hired Mark Gibson as Reinsurance and Alternative Capital director, reporting to Managing Director Ian Martin. Gibson is responsible for developing Neon’s outwards reinsurance program and third party capital strategy. With 30 years’ experience in the sector, …
Cyber Attack on Ukrainian Medical Facilities Sets ‘Dangerous’ Precedent: Experts
L.S. Howard - July 21, 2017, 8:01 am
Dr. Lidiia Podkopaieva was about to click “send” on an order of new surgical instruments when her computer monitor suddenly went dark. She speed-dialed the clinic’s technician but didn’t even have time to tell him what was wrong. “We’re under cyber …
British Columbia Wildfires Continue to Rage, Torching 1,235-Plus Square Miles
L.S. Howard - July 21, 2017, 7:34 am
British Columbia is extending a state of emergency for two more weeks as wildfires sweeping across the province’s interior show no sign of slowing. Premier John Horgan said Wednesday that his government’s first priority is to support the more than 45,000 people …
Safety Lapses Blamed for Death of Kentucky Coal Miner
Amy O'Connor - July 21, 2017, 4:02 am
Federal regulators say an accident that killed a coal miner in Pike County happened because a conveyor belt didn’t have adequate safety guards. The Lexington Herald-Leader reports the U.S. Mine Safety and Health Administration said in its report that 43-year-old …
6 Injured in Atlanta Restaurant Roof Collapse
- July 21, 2017, 4:00 am
An official says the roof of an Atlanta restaurant collapsed Monday night, injuring six people. Atlanta Fire Department spokesman Cortez Stafford said at a media briefing that about 40 percent of the roof collapsed. Stafford says he couldn’t say for …
Report: Head-First Fall Onto Concrete Killed ‘Walking Dead’ Stuntman on Georgia Set
Amy O'Connor - July 21, 2017, 3:39 am
A stuntman fatally injured during production of “The Walking Dead” fell head-first onto concrete about 22 feet (7 meters) below after appearing to try to grab a railing to stop his fall, an assistant director told authorities. Coweta County coroner …

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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