Insurance Journal

Layoffs, Remote Working Hinder Diversity Push, UK Finance Executives Say

Layoffs, working from home and misguided tips on how to get ahead are hindering moves by financial firms on inclusion and diversity, British industry executives said on Wednesday. Britain’s Financial Conduct Authority and the Bank of England th...

Posted: Sep 28, 2023

If New Cars Are Safer, Why Are Fatalities on the Rise?

Alyssa Milligan was someone who intuitively knew when another person needed help, encouragement or a kind word. Although she was new to Tennessee, the 23-year old physical therapy student, whose mother called her “Sweet Alyssa,” had alrea...

Posted: Sep 28, 2023

Florida Company Claims Simple Device Makes Sandbag Filling Much Faster Before Floods

The Florida-based company that produces a quicker way to bag leaves is now offering a tool that it says makes filling sandbags three times faster, potentially saving property owners time before floodwaters rise. The Sandbag It! is a flat but …

Posted: Sep 28, 2023

Florida Company Claims Simple Device Makes Sandbag Filling Faster Before Floods

The Florida-based company that produces a quicker way to bag leaves is now offering a tool that it says makes filling sandbags three times faster, potentially saving property owners time before floodwaters rise. The Sandbag It! is a flat but …

Posted: Sep 28, 2023

Insurer Sued Over 80th Birthday Event Cancellation at Sting’s Estate in Italy

A Pennsylvania firm that organized a three-day musical festival for its owner’s 80th birthday at the Italian residence of musician Sting is suing its insurer seeking payment under an event cancellation policy. Wingstone Investment Holdings and...

Posted: Sep 28, 2023

All High School Students Hurt in New York Bus Crash Expected to Recover

All the high school students who were injured in an upstate New York charter bus crash on the way to a band camp are expected to recover, according to their school superintendent. The bus, one of six carrying students from …

Posted: Sep 28, 2023

Boston Employment Agency Owner Sentenced for Tax and Workers’ Compensation Fraud

A Dorchester woman was sentenced recently in federal court in Boston for tax and workers’ compensation fraud offenses in connection with her operation of a temporary employment agency. Dam Ngoc Luong, 70, was sentenced by U.S. District Court Ju...

Posted: Sep 28, 2023

People Moves: Shimamura Joins Island Insurance in Hawaii as Controller

Island Insurance, headquartered in Honolulu, Hawaii, appointed Kevin Shimamura as its accounting and finance controller. Shimamura has more than 20 years of financial experience. Most recently, he served as vice president and senior manager of accoun...

Posted: Sep 28, 2023

Plane Went Into Stall Maneuver Before Philadelphia-Area Crash That Killed 2

Federal authorities say a plane that crashed in a residential street near a suburban Philadelphia middle school last year, killing two people, went into a stall and went out of control as the pilot was practicing maneuvers during an instructional &#8...

Posted: Sep 28, 2023

Delayed Passage of Farm Bill Stirs Concern for Texas Agriculture

WASHINGTON — Key federal legislation to support farmers and consumers could get delayed due to the looming government shutdown, causing uncertainty for agriculture and nutrition programs in Texas. The must-pass package of legislation known as the far...

Posted: Sep 27, 2023

Indiana Teenager Killed in Tree-Trimming Mishap as Log Shifts and Strikes Him

MONTPELIER, Ind. (AP) – A teenager working for a tree-trimming service died in northeastern Indiana when a log rolled out of a trailer and struck him, authorities said. Braeden Depew, 18, of Kokomo was pronounced dead at the scene Saturday …

Posted: Sep 27, 2023

People Moves: Roach Joins Alliant’s Employee Benefits Group in Minnesota

Roach Joins Alliant’s Employee Benefits Group in Minnesota Alliant Insurance Services, headquartered in Irvine, Calif., named David Roach as vice president of its employee benefits group in the Midwest. Based in Minneapolis, Minn., Roach joins...

Posted: Sep 27, 2023

Independent Insurance Agents of Wisconsin to Celebrate 125 Years at InsurCon2024

The Independent Insurance Agents of Wisconsin (IIAW) announced they will celebrate 125 years in the insurance industry in 2024. To celebrate this significant milestone, the IIAW is opening registration for its grand celebratory event, InsurCon2024. I...

Posted: Sep 27, 2023

Gunman in Texas Walmart Shooting Ordered to Pay Restitution of $5 Million

AUSTIN, Texas (AP) – A white Texas gunman who killed 23 people at a Walmart in 2019 after ranting about Hispanics taking over the government and economy has agreed to pay more than $5 million to victims of the racist …

Posted: Sep 27, 2023

People Moves: Sompo Int’l Taps Chubb’s Gossé for Cyber Ins., Continental Europe; Allianz Commercial...

This edition of International People Moves details appointments at Sompo International and Allianz Commercial. A summary of these new hires follows here. Sompo Int’l Taps Chubb’s Gossé for Cyber Insurance, Continental Europe Sompo Interna...

Posted: Sep 27, 2023

On Tolstoy and Insurance Troubles in the Heartland

Property & casualty insurers are remarkably durable. Many of the country’s 2,422 insurers have been in business for over a century. Two – the Insurance Company of the State of Pennsylvania and the Philadelphia Contributionship–were formed i...

Posted: Sep 27, 2023

Ariel Re Relaunches Clean Energy Division, Focusing on Tech Performance Insurance

Ariel Re, the Bermuda-based re/insurer, has relaunched its Clean Energy division as “Ariel Green,” in recognition of the increasingly crucial role of technology performance insurance in accelerating innovation in solar, energy storage, hy...

Posted: Sep 27, 2023

McKinsey Agrees to Pay $230 Million to Settle More Opioid Suits

McKinsey & Co. is poised to pay $230 million in its latest settlement of lawsuits blaming the company for its role advising opioid manufacturers in their sales of the painkillers. The proposed accord with local governments and school districts fi...

Posted: Sep 27, 2023

Kia, Hyundai Recall Over 3 Million Vehicles for Fire Risks

Hyundai and Kia are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete. The automakers say brake fluid leaks …

Posted: Sep 27, 2023

Tornado-damaged Pfizer Plant in North Carolina Restarts Production

ROCKY MOUNT, N.C. (AP) — A major Pfizer pharmaceutical plant in North Carolina that makes critical supplies for U.S. hospitals has restarted production about 10 weeks after it was heavily damaged by a tornado, the company announced Monday. Gett...

Posted: Sep 27, 2023

People Moves: Taylor Joins ReSource Pro as Global Head of Marketing

Taylor Joins ReSource Pro as SVP, Global Head of Marketing ReSource Pro, headquartered in New York, N.Y., named Beth Taylor senior vice president and global head of marketing. Taylor brings over 18 years of experience in global B2B marketing, includi...

Posted: Sep 27, 2023

Markets/Coverages: Bold Penguin Partnering With NEXT Insurance

Bold Penguin has partnered with NEXT Insurance, a leading technology-first small business insurer, to enhance small business coverage options on the Bold Penguin Terminal. Per a press release, through this partnership, Bold Penguin users will gain ac...

Posted: Sep 27, 2023

Rising Claims Costs Limit US P/C Profitability in 2023

While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to the U.S. Property & Casualty Outlook report, t...

Posted: Sep 27, 2023

The Challenges of a Widening Cyber Insurance Protection Gap

According to privileged access management Delinea’s report, Closing the Cyber Insurance Gap – 2023 State of Cyber Insurance, a significant gap is emerging between insurance carriers and organizations who are seeking affordable, comprehens...

Posted: Sep 27, 2023

Markets/Coverages: Aon Offers Financial Institutions Solution With Capacity of $100M

Insurance broker Aon plc announced the launch of a flagship new insurance solution, FI Protect 360, created in collaboration with several leading London market insurers. FI Protect 360 is designed to address key operational risks faced by today&#8217...

Posted: Sep 27, 2023