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Boston Agent Charged With Creating Fake Insurance Policies to Collect Commissions

Insurance Journal

A Boston man has been charged with a fraud scheme in which prosecutors say he collected about $45,000 in unearned sales commissions on insurance policies he created using personally identifiable information stolen from individuals. The state attorney...

Posted: Apr 26, 2024

Orion180 Launches Homeowners Insurance in Arizona

Insurance Journal

Orion180 is expanding its homeowners insurance services to Arizona under a push by the company into the Western U.S. Orion180 currently operates in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina and South Carolina through its two ins...

Posted: Apr 26, 2024

Connecticut M&A Advisor Agrees to Pay $1.5M to Settle Data Breach Class Action

Insurance Journal

Merritt Healthcare Advisors, a Connecticut mergers and acquisitions (M&A) advisory firm for healthcare practices, has agreed to a $1.525 million settlement of a class action stemming from a 2022 data breach. The money will go into a fund to compe...

Posted: Apr 26, 2024

Jury Rejects Sex Abuse Claims Against Virginia School System by Former Student

Insurance Journal

A jury on Wednesday rejected a woman’s lawsuit seeking tens of millions of dollars from Virginia’s largest school system over allegations that she was raped multiple times as a middle schooler. The woman, who was identified in court paper...

Posted: Apr 26, 2024

Omaha National acquires Sutter insurance, rebrands it as Omaha National Casualty

Reinsurance News

Omaha National Group Inc., the tech-enabled provider of workers’ compensation insurance, has acquired Sutter Insurance Company, a California-domiciled inusrer. Sutter has been renamed to Omaha National Casualty Company, owned by Omaha National whi...

Posted: Apr 26, 2024

3-Alarm House Fire Likely Caused by Oily Rags, Newton Fire Chief Says

Insurance Journal

A three-alarm fire in Newton, Massachusetts this week was most likely caused by the combustion of oily rags used during renovations on the unoccupied home, according to Newton Fire Chief Gregory J. Gentile. The Newton Fire Department responded to 8 &...

Posted: Apr 26, 2024

Workers’ Comp Rating Bureau of California OKs Higher Pure Premium Rate Filing

Insurance Journal

The Workers’ Compensation Insurance Rating Bureau of California submitted its Sept. 1, 2024, pure premium rate filing to the California Department of Insurance, proposing advisory rates on average 0.9% above the average approved Sept. 1, 2023 r...

Posted: Apr 26, 2024

Thames Water Debt Insurer Taps Advisers as Crisis Deepens

Insurance Journal

A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured &#...

Posted: Apr 25, 2024

Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits

Insurance Journal

Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India ami...

Posted: Apr 25, 2024

Global Basel Committee Bolsters Rules for Supervising Banks, Non-Bank Sector

Insurance Journal

The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of b...

Posted: Apr 25, 2024

Aon Completes $13B Acquisition of Middle-Market Broker NFP

Insurance Journal

Aon plc said late Thursday that it has completed its $13 billion acquisition of middle-market P/C broker NFP. The purchase price will be funded by $7 billion in cash and $6 billion of Aon stock. Closing was earlier than originally …

Posted: Apr 25, 2024

ALKEME Acquires Illinois’ Ralph Weiner & Associates

Insurance Journal

ALKEME announced the acquisition of Ralph Weiner & Associates, a retail insurance agency based in Wheeling, Illinois. Established in 1951, Ralph Weiner & Associates has earned acclaim for its specialized focus on the long-term health care fac...

Posted: Apr 25, 2024

Hiscox Re & ILS and Ariel Re launch cyber catastrophe consortium

coverager

The CyberShock consortium is designed to offer up to $50 million of per-program capacity providing tailored, event-based protection for cyber insurers worldwide.

Posted: Apr 25, 2024

iPipeline Names Adam Boone CFO to Accelerate Strategic Growth

IIR

The technology industry veteran will lead iPipeline’s financial management to drive its long-term growth strategy.

Posted: Apr 25, 2024

What Endorsement Adds an HOA as an Additional Insured to a Renters Insurance Policy?

IA Magazine

An agency is getting regular requests from homeowners associations (HOAs) to list the HOA as an additional insured on its tenants’ renters insurance policies. However, the carriers will only list the HOAs as certificate holders or additional interest...

Posted: Apr 25, 2024

Cybersecurity, Data and Gen AI: Vertafore CEO Keynote

IIR

Amy Zupon emphasized change and unprecedented investment in products, with a focus on three key industry trends.

Posted: Apr 25, 2024

Pacific Life integrates with Selerix

coverager

Selerix is a benefits administration platform.

Posted: Apr 25, 2024

Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks

Carrier Management

Lockton Re: Hypothetical Cyber Event Offers Carri...

Posted: Apr 25, 2024

Vantage Risk introduces US Large Property insurance

coverager

US Large Property is one of Vantage's 10 insurance businesses.

Posted: Apr 25, 2024

Marsh launches Global Alternative Risk Solutions practice

coverager

Global Alternative Risk Solutions aligns existing capabilities from Marsh Specialty, Global Placement, Captive Solutions, and Advisory.

Posted: Apr 25, 2024

Christophe Letondot to Lead Marsh’s New Global Alternative Risk Solutions Practice

Risk & Insurance

The latest people news in the industry today The post Christophe Letondot to Lead Marsh’s New Glo...

Posted: Apr 25, 2024

Chloe Gordge Promoted to Head of Terrorism for Markel in London

Risk & Insurance

The latest people news in the industry today The post Chloe Gordge Promoted to Head of Terrorism for Markel in London...

Posted: Apr 25, 2024

Danielle Lombardo Appointed as Chair of Real Estate, Hospitality, and Leisure Division at WTW

Risk & Insurance

The latest people news in the industry today. The post Danielle Lombardo Appointed as Chair o...

Posted: Apr 25, 2024

Margot Spera Joins Alliant Specialty as Senior Vice President in Real Estate & Hospitality Division

Risk & Insurance

The latest people news in the industry today. The post Margot Spera Joins Alliant Speci...

Posted: Apr 25, 2024

New Jersey Forest Service Says 510-Acre Wharton Wildfire Is 100% Contained

Insurance Journal

The New Jersey Forest Fire Service said it has reached 100% containment of a 510-acre wildfire in the area of Jackson Rd. in Wharton State Forest. The fire burned in both Waterford Twp, Camden County and Shamong Twp, Burlington County. …

Posted: Apr 25, 2024

People Moves: XPT Specialty Expands with Industry Veteran

Insurance Journal

XPT Specialty, headquartered in New Haven, Connecticut, hired Jody Travis as vice president and senior underwriter in its Houston office. Travis has over 30 years of experience in the commercial sector. He most recently served as vice president and s...

Posted: Apr 25, 2024

DHL to Pay $8.7M to Settle Race Discrimination Lawsuit in Illinois

Insurance Journal

Delivery company DHL will pay $8.7 million and be subject to the oversight of a court-appointed monitor to settle a class race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The...

Posted: Apr 25, 2024

Houston Deputy Dies After Being Hit by Truck While Helping During Accident

Insurance Journal

HOUSTON (AP) — A deputy who was a 20-year-veteran of a Houston-area sheriff’s office died Tuesday after being hit by a truck while trying to help a driver following a minor crash, according to officials. John Coddou had pulled over …

Posted: Apr 25, 2024

The Role of Artificial Intelligence Across the Property Insurance Ecosphere

Insurance Journal

This post is part of a series sponsored by CoreLogic. Over the last couple of years, Artificial Intelligence (AI) has changed how everyone lives, works, and plays. More than just a trend, AI is the ability of a machine, computer, …

Posted: Apr 25, 2024

Could AI Bridge the Talent Gap in the Wake of a Silver Tsunami?

Risk & Insurance

Augmenting human insights and striking an appropriate balance between maximizing work output and managing the emotional complexities inherent in workers' compensation cases and claims is essential. The post

Posted: Apr 25, 2024

Favourable P&C reinsurance environment to persist at mid-year renewals: Munich Re CEO

Reinsurance News

Joachim Wenning, Chief Executive Officer (CEO) of Munich Re, is confident that the favourable market environment for property and casualty (P&C) reinsurers will continue throughout 2024, after a positive January 1st reinsurance renewal period....

Posted: Apr 25, 2024

ICEYE Announces Agreement for $93M Growth Funding Round

Carrier Management

ICEYE Announces Agreement for $93M Growth Funding Round ICEYE, a provider of synthetic aper...

Posted: Apr 25, 2024

Tech Bytes: New Partnerships at bolttech, Verisk, Chubb

Carrier Management

Tech Bytes: New Partnerships at bolttech, Verisk, Chubb International Insur...

Posted: Apr 25, 2024

GM Ends OnStar Driver Safety Program After Privacy Complaints

Carrier Management

GM Ends OnStar Driver Safety Program After Privacy Complaints General Motors Co. has ended its O...

Posted: Apr 25, 2024

City Leaders Accuse Ship Owner, Manager of Negligence in Baltimore Bridge Collapse

Carrier Management

City Leaders Accuse Ship Owner, Manager of Negligence in Baltimore Bridge Collapse The owner and manage...

Posted: Apr 25, 2024