News – Insurance Journal
|Judge Allows Philadelphia’s Suit Claiming Unfair Lending by Wells Fargo
A federal judge in Philadelphia on Tuesday rejected Wells Fargo & Co.’s bid to dismiss that city’s lawsuit accusing the largest U.S. mortgage lender of predatory lending targeting black and Hispanic borrowers. U.S. District Judge Anita Brody said Philadelphia may …
POSTED JANUARY 17, 2018 8:33 PM
|Ratings Assigned to Iowa’s Midwest Family Advantage Insurance
A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Midwest Family Advantage Insurance Co. (Midwest Advantage). The outlook assigned to these ratings is stable. Concurrently, A.M. …
POSTED JANUARY 17, 2018 5:44 PM
|Harvey-Devastated Texas Coastal Towns Still Working on Recovery
Some Texas coastal towns where Hurricane Harvey made landfall are working to restore tourism and other economic attractions nearly five months after the storm. Hundreds of businesses in Rockport and Fulton are now open amid recovery efforts assisted by Aransas …
POSTED JANUARY 17, 2018 5:40 PM
|Carroll Promoted to VP, Underwriting at ISMIE Mutual Insurance
Chicago-based ISMIE Mutual Insurance Co., a provider of medical professional liability insurance services, has promoted Edward J. Carroll JD to vice president of Underwriting. Carroll joined ISMIE Mutual in early 2017 when he was appointed as director of Underwriting – …
POSTED JANUARY 17, 2018 5:36 PM
|A.M. Best Removes Pacific Compensation Insurance in California from Review
A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Thousand Oaks, Calif.-based Pacific Compensation Insurance Co. The outlook …
POSTED JANUARY 17, 2018 5:33 PM
|Settlements Reached in West, Texas, Fertilizer Plant Explosion
The city of West, Texas, and several other plaintiffs have reached settlements and partial settlements of claims stemming from a deadly explosion in the central Texas town. An April 13, 2013, blaze heated up 30 tons of ammonium nitrate at …
POSTED JANUARY 17, 2018 5:28 PM
|Houston International Insurance Group Promotes 5 in Senior Management
Houston International Insurance Group (HIIG) announced it has promoted five senior management executives. Kirby A. Hill was promoted to executive vice president of HIIG Property/Casualty operations. Hill, who has been with the company for nearly 10 years and in the …
POSTED JANUARY 17, 2018 5:26 PM
|Estate of Ohio Policeman Who Died in Crash Sues Motorcycle Makers
Two motorcycle manufacturers and their trainers are accused of negligence in a lawsuit over the death of a central Ohio police officer. Sean Johnson lost control of his motorcycle during an on-duty training ride with fellow officers from Hilliard and …
POSTED JANUARY 17, 2018 5:17 PM
|Brit Global Specialty USA Adds Arch’s Hartman to Construction Practice
Brit Global Specialty USA has appointed Rich Hartman as senior vice president, Construction Professional. Hartman brings 35 years of experience in the insurance industry. Most recently he spent more than six years at Arch Insurance Group, where he led the …
POSTED JANUARY 17, 2018 5:00 PM
|Washington Town on High Alert over Slow-Moving Landslide
A slow-moving landslide in central Washington state has forced evacuations as officials prepare for what they say is inevitable – the collapse of a ridge near an interstate highway. Washington is wary of landslides following one in 2014 that killed …
POSTED JANUARY 17, 2018 3:40 PM
|Berkley combining two professional liability units
W.R. Berkley Corp. said Wednesday it is combining two of its professional liability units into a single operating unit.
POSTED JANUARY 17, 2018 2:22 PM
|Wells Fargo’s chief risk officer to retire
POSTED JANUARY 17, 2018 2:12 PM
|Pa. governor declares opioid epidemic a statewide disaster
Pennsylvania Gov. Tom Wolf issued a disaster declaration for the state as a response to the opioid epidemic.
POSTED JANUARY 17, 2018 1:36 PM
|Many companies unprepared for hurricanes’ devastation: FM Global
A large number of U.S. companies with operations in three states affected by the 2017 hurricanes were inadequately prepared to deal with the impact of these catastrophes and have vowed to improve their risk management strategies in response.
POSTED JANUARY 17, 2018 1:17 PM
|Vet independent medical reviews for quality to help control comp losses: RIMS
Malingering, exaggerating injuries and comorbidities are some of the issues that can complicate an already complex workers compensation claim, which is why hinging a claim on a quality independent medical review can help mitigate losses, the Risk & Insurance Management Society Inc. says in a white paper.
POSTED JANUARY 17, 2018 12:53 PM
|AmWINS appoints Purviance CEO
AmWINS Group Inc. said Wednesday that Scott M. Purviance, who is now chief operating officer, will succeed M. Steven DeCarlo as the wholesaler’s chief executive officer, effective May 1.
POSTED JANUARY 17, 2018 12:29 PM
|Judge excludes 70,000 women from jeweler bias suit
(Reuters) -- A U.S. judge on Tuesday overturned an arbitrator's ruling allowing about 70,000 women to take part in a nationwide sex discrimination case against Sterling Jewelers Inc. even though they had not opted to join.
POSTED JANUARY 17, 2018 11:31 AM
|Missouri lawmaker introduces wide-ranging workers comp legislation
A bill introduced in the Missouri House of Representatives this month would amend current workers compensation law in several ways.
POSTED JANUARY 17, 2018 11:29 AM
|Insurance industry ponders disruption as opportunity
“Disruption” has been used extensively to describe conditions in the insurance industry, but it doesn’t necessarily have negative implications, according to speakers at the Joint Industry Forum in New York.
POSTED JANUARY 17, 2018 11:10 AM
|BEAT provisions to hit insurance, reinsurance programs: RIMS
The Base Erosion and Anti-Abuse Tax provisions in the recently passed U.S. tax bill will negatively affect risk managers organizations’ insurance and reinsurance programs, according to an analysis by the Risk & Insurance Management Society Inc.
POSTED JANUARY 17, 2018 10:39 AM