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Today’s Insurance News
Source: Insurance Journal
Plans Underway for Super Regional P/C Insurer Conference 2017 for C-Suite Professionals
Andrew G. Simpson - December 3, 2016, 6:00 am
Insurance Journal and Demotech, Inc. announced that the inaugural Super Regional P/C Insurer Conference will be held July 16-18 2017 at the Grand Geneva Resort & Spa in Lake, Geneva, Wis. The theme of the event is “Finding Your True …
Hearing Set in California for Proposed Amendments to Lien Filing Rules
Don Jergler - December 2, 2016, 8:14 pm
California’s Workers’ Compensation Appeals Board issued a notice of public hearing next month regarding a proposed addition and amendments to its lien filing rules. The primary purpose of this rulemaking is to implement legislative changes to the filing requirements for …
Task Force Submits Cybersecurity Recommendations to North Dakota Governor
Stephanie K. Jones - December 2, 2016, 5:57 pm
A state task force on capital cybersecurity has submitted its recommendations to North Dakota Gov. Jack Dalrymple. Topics in the report include improving monitoring and scanning of the state’s information technology network, finalizing a response plan to addressing cyberattacks and …
Draft Rules for Medical Marijuana in the Works in Arkansas
Stephanie K. Jones - December 2, 2016, 5:40 pm
Medical marijuana products sold in Arkansas would have to include detailed labels with information about their laboratory analysis, dosage, source and warnings under a draft of rules being prepared for the launch of the state’s medical pot program. The proposed …
Texas Judge Upholds Ban on Guns in Waller County Courthouse
Stephanie K. Jones - December 2, 2016, 5:35 pm
A judge’s ruling that upholds Waller County’s ban on guns in its courthouse keeps the southeast Texas county at odds with the state attorney general. State District Judge Albert McCaig Jr. ruled this week in a lawsuit by a gun …
Insurance Associations AAMGA, NAPSLO Move Forward with Merger Talks
Andrea Wells - December 2, 2016, 5:32 pm
A possible merger of the nation’s two major excess and surplus lines organizations is on track. The American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) said they are moving forward with …
Drought in 6 Louisiana Parishes Leads to Disaster Declarations
Stephanie K. Jones - December 2, 2016, 5:32 pm
Six Louisiana parishes have been designated as primary natural disaster areas due to damages and losses caused by recent drought. The U.S. Department of Agriculture gave the designation to Caldwell, Catahoula, Franklin, Madison, Richland and Tensas parishes on Nov. 23, …
Illinois Sees Year-over-Year Increase in Obamacare Sign-Ups
Stephanie K. Jones - December 2, 2016, 5:30 pm
Officials say more than 68,000 Illinoisans have selected health plans using the Affordable Care Act’s insurance marketplace, up nearly 1,400 compared to the same time last year. The sign-ups are happening as President-elect Donald Trump and Republican leaders in Congress …
Hub Acquires the Assets of Pinnacle in Massachusetts
- December 2, 2016, 4:49 pm
Global insurance brokerage Hub International Limited (Hub) has acquired the assets of Pinnacle Financial Group and Pinnacle Insurance Agency, a Boston, Mass., based provider of life insurance solutions and services to family offices, affluent families and middle market and large …
California Commissioner Issues Auto Collision Repair Regulations
- December 2, 2016, 3:59 pm
California Insurance Commissioner Dave Jones issued new Auto Collision Repair Labor Rate Survey Regulations that he said will increase consumer protections when a damaged vehicle is repaired. The California Department of Insurance over the last several years has worked on …
Insurers Praise House Approval of Systemic Risk Reform Bill
Andrew G. Simpson - December 2, 2016, 3:37 pm
The House of Representatives took a step toward changing the Dodd-Frank financial regulation law by passing a measure that requires that a systemic risk designation be based on more than a financial institution’s size. The House vote was heralded by …
Judge Adds $5M to McQueary’s $7M Verdict Against Penn State
Elizabeth Blosfield - December 2, 2016, 2:47 pm
A former Penn State assistant football coach’s treatment by the school after Jerry Sandusky was arrested entitles him to more than $12 million, a judge said Wednesday in a ruling that substantially increased last month’s jury award. Judge Thomas Gavin …
Report Calls on New Hampshire to Prepare for Rising Seas
Elizabeth Blosfield - December 2, 2016, 2:31 pm
Though the worst impacts of rising seas in New Hampshire are decades away, a state commission is warning that coastal communities must act now to ensure vulnerable buildings are protected and roads, bridges and other structures constructed in the future …
Circus Operator to Pay $24K Over Deadly Tent Collapse in New Hampshire
- December 2, 2016, 2:22 pm
A Florida-based circus operator has agreed to pay $24,000 in fines issued by federal safety officials for a tent collapse that killed two people and injured dozens in New Hampshire last year. Robert Young, 41, and his 6-year-old daughter, Annabelle, …
Liberty Mutual Names Dwortz President of Helmsman
Andrew G. Simpson - December 2, 2016, 2:08 pm
Liberty Mutual Insurance has appointed David Dwortz as president, Helmsman Management Services, its third party claims administrator. Dwortz takes the reigns at Helmsman Management Services from Debbie Michel, who was recently appointed executive vice president, National Insurance Casualty, Liberty Mutual. …
Virginia Flood Damage from Matthew Costliest Since Isabel, Officials Say
- December 2, 2016, 2:05 pm
Virginia suffered only a glancing blow from Hurricane Matthew last month when unprecedented amounts of rain fell, but on Wednesday officials estimated flood damage to be hundreds of millions of dollars, making it the costliest storm since Hurricane Isabel in …
Audit Hits Regulator for Not Testing Brokerage Firms’ Cyber Security Policies
Andrew G. Simpson - December 2, 2016, 2:03 pm
The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in October by Brown & Company CPAS …
Senate Bill Would Let Wells Fargo Customers Sue in Court, Bypass Arbitration
Andrew G. Simpson - December 2, 2016, 1:55 pm
Legislation introduced by two Democratic lawmakers on Thursday would allow Wells Fargo & Co. customers to go to court, instead of private arbitration, to resolve claims about accounts opened without authorization, according to a media release. The bill, which faces …
FM Global Explores Next-Generation Fire Sprinklers
Andrew G. Simpson - December 2, 2016, 1:32 pm
Warehouses, served by increasingly powerful automated materials-handling equipment, are steadily getting taller, posing new fire risks and stressing traditional fire protection systems like heat-triggered ceiling sprinklers. That’s why Rhode Island-based FM Global, one of the world’s largest commercial property insurers, …
J&J Hit with $1 Billion Verdict in Hip Implant Product Liability Case
Andrew G. Simpson - December 2, 2016, 1:24 pm
Johnson & Johnson was ordered by a Texas jury to pay more than $1 billion to patients who claimed the company hid flaws in its Pinnacle artificial hips that had to be surgically removed, in J&J’s second loss linked to …
How GM’s ‘Super Cruise’ Self-Driving Car Is Evolving
Andrew G. Simpson - December 2, 2016, 1:16 pm
General Motors Co.’s semi-autonomous “Super Cruise” system will allow drivers to take their hands off the steering wheel for extended periods, but will stop the vehicle automatically if drivers are not attentive, according to a government letter made public on …
PERILS Discloses Final Loss Estimate for UK Storm Desmond of £604M
L.S. Howard - December 2, 2016, 12:50 pm
PERILS AG has today disclosed its fourth and final loss estimate for the floods in the UK which occurred Dec. 4-24, 2015 and were linked to storm Desmond and other low pressure systems. The revised estimate of the insured property …
XL Catlin Launches Emergency Security & Disaster Evacuation Solution
L.S. Howard - December 2, 2016, 12:29 pm
XL Catlin’s insurance operations announced the launch of an Emergency Security and Disaster Evacuation (ESDE) solution for businesses with employees working internationally. This new solution, underwritten out of London, Guernsey, Hong Kong and Singapore, has been designed to respond to …
What Executives Need to Know About Managing D&O Liabilities: Allianz Report
L.S. Howard - December 2, 2016, 12:05 pm
Company directors and senior managers across the globe are increasingly likely to face costly regulatory investigations, criminal prosecutions or civil litigation, which not only put their company’s assets, and their own assets, at risk, but also may threaten their personal …
Krefta Named CEO of Hiscox Re and ILS, Succeeding Pinchin
L.S. Howard - December 2, 2016, 9:50 am
Specialist global insurer Hiscox announced that Michael Krefta has been appointed CEO of Hiscox Re and ILS, and CEO of Hiscox Bermuda, effective Aug. 1, 2017. He will succeed Jeremy Pinchin who, after five years in Bermuda, will return to …
Skuld’s Special Purpose Arrangement, Agora, Completes Senior Team
L.S. Howard - December 2, 2016, 9:18 am
Skuld announced the completion of the senior team at Agora, the special purpose arrangement (SPA) of Skuld Syndicate 1897, specializing in the property direct & facultative (D&F) and treaty markets. The SPA started trading in January 2016. “Agora, led by …
Maximum Hires Lenzsch as Insurance Producer in Chicago
- December 2, 2016, 6:58 am
Maximum, an independent, Chicago-based excess and surplus lines wholesaler, has hired JulieAnne Lenzsch as property producer in its corporate office. Lenzsch, who’s relocating from the Houston, Texas-area, will bolster Maximum’s property team with a steep knowledge of coastal property, the …
Tennessee Wildfire Death Toll Rises to 7; City of Gatlinburg Surveys Damage
Amy O' Connor - December 2, 2016, 6:35 am
Three more bodies were found in the ruins of wildfires that torched hundreds of homes and businesses in the Great Smoky Mountains area, raising the death toll to seven, a Tennessee mayor said Wednesday. Search-and-rescue missions continued, and Sevier County …
Acentria Expands Into Miami Through Partnership with iSure Insurance Brokers
Amy O' Connor - December 2, 2016, 6:30 am
Acentria Insurance has expanded its presence in South Florida through a merged partnership with iSure Insurance Brokers, located in Miami. Established in 1984, iSure Insurance Brokers specializes in commercial insurance, employee benefits, human resource outsourcing and personal insurance. It will …
North Carolina Insurers Want 19.6% Rate Hike for Dwelling Policies
Amy O' Connor - December 2, 2016, 6:25 am
The North Carolina Rate Bureau (NCRB) has requested a 19.6 percent rate increase on all dwelling insurance policies, according to a statement from the North Carolina Department of Insurance. NCDOI announced Dec. 1 it is reviewing NCRB’s Nov. 30 rate …

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!