September 16, 2019

Mon, 16 Sep 2019 12:35:46 +0000
OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic. Purdue’s board met Sunday evening to approve the long-...
Mon, 16 Sep 2019 12:35:14 +0000
Insurers of a fire-damaged Philadelphia refinery have indicated they would make a $50 million initial advance payment in connection with a June blaze that led to the plant’s closure, court documents showed. The infusion of funds would buy cash-strapped...
Mon, 16 Sep 2019 10:52:09 +0000
AkinovA, the independent electronic marketplace for the transfer and trading of re/insurance risk, has donated key insurance linked security (ILS) data assets to ACORD, the global standards-setting body for the re/insurance industry,. The donated asset...
Mon, 16 Sep 2019 10:00:00 +0000
Kevin Thompson has been appointed chief executive of RSA Ireland after being approved by the regulator Central Bank of Ireland. He will replace Ken Norgrove, who is moving to the role of CEO of Codan/Trygg-Hansa, RSA Group’s Scandinavian business. Thom...
Mon, 16 Sep 2019 09:34:36 +0000
VIBE Syndicate Management (VIBE), announced the closure of its Accident & Health and Property Direct & Facultative (D&F) business units with immediate effect. “As we continue our strategic review of the VIBE business we have decided to cease underwriti...
Mon, 16 Sep 2019 09:09:05 +0000
Industry insured losses from Typhoon Faxai, which made landfall in Japan on Sept. 9, will be between 340 billion Japanese yen (US$3 billion) and 740 billion yen (USD 7 billion), estimated Boston-based catastrophe risk modeling firm AIR Worldwide. Typho...
Mon, 16 Sep 2019 08:33:55 +0000
The global leader in flood risk management, JBA Risk Management, launched the first probabilistic global flood model, which allows re/insurers to model river and surface water flood at 30 meters (98.4 feet) resolution worldwide. The Global Flood Model ...
Mon, 16 Sep 2019 08:06:53 +0000
Tropical storm Humberto has now intensified into the third Atlantic hurricane of 2019 with top sustained winds of 75 mph, according to weather.com meteorologists in a report issued on Sept. 15. The majority of the showers, thunderstorms and strongest w...
Mon, 16 Sep 2019 06:32:50 +0000
American Financial Group Inc. announced that Martin Reith intends to resign his executive roles with Neon, including stepping down as group CEO of Neon, effective Sept. 30, 2019. He will remain a member of the Neon Underwriting Ltd. (NUL) Board …
Mon, 16 Sep 2019 05:00:47 +0000
U.S. Senators John Kennedy (R-La.) and Mazie Hirono (D-Hawaii) have introduced legislation to allow active duty service members to sue the military for medical malpractice and negligence. A Supreme Court decision in 1950 banned active duty service memb...
Mon, 16 Sep 2019 05:00:11 +0000
AmerisourceBergen Corp., Cardinal Health Inc., CVS Health Corp. units and other prescription drug distributors and pharmacies moved to bounce Cleveland federal judge Dan Polster from the massive opioid liability case he’s overseeing, claiming he’s like...
Mon, 16 Sep 2019 05:00:09 +0000
Alera Group has acquired Makro Enterprises in Las Vegas, Nev. Makro will join Alera Group through local firm GLB Insurance. Terms of the deal were not disclosed. Makro offers employee benefits and insurance services for clients throughout Las Vegas and …
Mon, 16 Sep 2019 04:58:53 +0000
North Carolina Gov. Roy Cooper is seeking a federal disaster declaration for 13 counties affected by Hurricane Dorian. Cooper made the request to President Donald Trump’s administration Friday. If approved, money would be available to help with the cos...
Mon, 16 Sep 2019 04:26:59 +0000
Willis Towers Watson has entered into a strategic partnership with Sompo Global Risk Solutions (GRS) to create an integrated insurance platform to serve the needs of the middle market commercial real estate segment. The Willis Towers Watson Retail, Off...
Mon, 16 Sep 2019 04:15:32 +0000
PMA Companies Insurance Group has named Sabrina Mitchell as Claims assistant vice president, Southeast Region. Mitchell will be responsible for leading PMA’s Southeast Region insurance claims operations and will report directly to Ray DiCello, senior v...
Fri, 13 Sep 2019 18:18:25 +0000
It didn’t take long for attorney Shannon Liss-Riordan to deploy a new weapon in her six-year war with Uber Technologies Inc. over driver pay. Within hours of Uber thumbing its nose at a pending California labor law that could upend …
Fri, 13 Sep 2019 16:59:03 +0000
The Main Street America Group, a super-regional property/casualty insurance company, has announced Chris Listau, the company’s current president of insurance operations, will succeed Tom Van Berkel as president and CEO. Van Berkel will retire on Sept. ...
Fri, 13 Sep 2019 16:49:33 +0000
As authorities try to answer why a cargo ship carrying 4,200 vehicles overturned on the Georgia coast, maritime experts say investigators will be looking for shifting cargo or other problems that upset the giant vessel’s balance enough to make it …
Fri, 13 Sep 2019 16:36:59 +0000
The National Weather Service says a tornado ripped through a cemetery in southeastern Minnesota. The EF-1 tornado with winds of 95 mph struck Woodlawn Cemetery in Winona early Wednesday. The tornado toppled trees and damaged a building and headstones. ...
Fri, 13 Sep 2019 16:28:17 +0000
When Louisiana voters go the polls this fall, in the race for insurance commissioner they’ll have a choice between Louisiana businessman and longtime insurance industry executive, Tim Temple, and current commissioner, Jim Donelon, who has held the post...
Fri, 13 Sep 2019 16:26:27 +0000
Policyholders of Neenah, Wisconsin-based Jewelers Mutual Insurance Co. have approved the company’s plan to convert its corporate structure to a mutual holding company. Policyholders voted Sept. 12 to approve the conversion. The plan received 87.1 perce...
Fri, 13 Sep 2019 16:20:29 +0000
When the warning sounded shortly before midnight that a tornado could be approaching, the clock turned into a stopwatch for staff members working the night shift at a behavioral health center at a Sioux Falls hospital. “We had 10 minutes …
Fri, 13 Sep 2019 16:18:03 +0000
No damage or injuries have been reported after an early Thursday morning earthquake struck near the border of Missouri and Arkansas. The U.S. Geological Survey says the 3.7-magnitude earthquake was recorded early on Sept. 12 in the Buffalo National Riv...
Fri, 13 Sep 2019 16:16:43 +0000
Harris County plans to hire additional environmental personnel to better respond to dangerous chemical plant and refinery fires like ones that occurred this year near the Houston Ship Channel. The Houston Chronicle reports county commissioners have app...
Fri, 13 Sep 2019 15:06:54 +0000
The Coast Guard announced it has issued new safety recommendations in the wake of a fatal boat fire off the Southern California coast that killed 34 people. The agency recommended limiting the unsupervised charging of lithium-ion batteries and the use …
Fri, 13 Sep 2019 15:03:33 +0000
A lawsuit over profits between the producers and stars of the show “Bones” and 21st Century Fox has been settled. The two sides in the long-running lawsuit over the hit Fox TV show filed documents saying the lawsuit was settled …
Fri, 13 Sep 2019 14:58:32 +0000
A driver for Uber has sued the company for misclassifying its drivers as independent contractors, hours after California legislators voted to help thousands of those workers become, and enjoy the benefits of being, employees. The proposed class action ...
Fri, 13 Sep 2019 14:54:49 +0000
A grand jury in Alaska this week indicted General Electric’s Baker Hughes, two of its subsidiaries and an employee, for 25 felony charges of assault relating to toxic chemical releases at a construction site, according to authorities. The indictment ch...
Fri, 13 Sep 2019 14:51:41 +0000
ower producer PG&E Corp. said on Friday it has reached an $11 billion settlement agreement with entities representing about 85% of insurance subrogation claims relating to 2017 and 2018 wildfires. The company said these claims were based on payments ma...
Fri, 13 Sep 2019 13:24:44 +0000
U.K. police dropped an investigation into whether Brexit supporting campaign Leave.EU breached electoral law, saying there was insufficient evidence to justify any further criminal probe. While Leave.EU made some “technical breaches” of the law when it...