Tue, 21 Aug 2018 09:28:07 +0000
Ping An Insurance Group Co. of China, the country’s second-largest insurer by market value, on Tuesday reported a 34 percent rise in first-half net profit on strong growth at its life insurance and asset management businesses. Net profit came in …
Tue, 21 Aug 2018 09:12:16 +0000
Scorching summer heatwaves and downpours are set to become more extreme in the northern hemisphere as global warming makes weather patterns linger longer in the same place, scientists said on Monday. They said there was a risk of “extreme extremes” …
Tue, 21 Aug 2018 08:56:25 +0000
Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said. Der Spiegel’s story, based ...
Tue, 21 Aug 2018 08:45:56 +0000
Fallout from the Genoa bridge disaster has erased about $2 billion of net worth from one of Italy’s richest families. The billionaire Benettons control 30.25 percent of Atlantia SpA, the construction company and toll-road owner that operated the Morand...
Tue, 21 Aug 2018 06:17:42 +0000
An Atlanta-area property company is suing Grammy-winning R&B artist R. Kelly for $203,400 over “extensive damage” to two homes he rented. The Atlanta Journal-Constitution reports SB Property Management Global, LLC., based in East Point, filed the lawsu...
Tue, 21 Aug 2018 05:57:56 +0000
The owner of a residential construction business in Dayton who under reported his payroll by millions of dollars to lower his workers’ comp premiums has been sentenced for workers’ compensation fraud, the Ohio Bureau of Workers’ Compensation (BWC) repo...
Tue, 21 Aug 2018 05:50:17 +0000
Federal safety officials have proposed $213,411 in penalties against an Ohio manufacturer for amputation hazards at the company’s workplace. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited ArtiFlex Manufacturin...
Tue, 21 Aug 2018 05:00:58 +0000
Of all the horrific details contained in the Pennsylvania grand jury report on child sexual abuse in the Catholic Church, one sentence stands out: “The main thing was not to help children, but to avoid `scandal.”’ When sex-abuse cases dominate …
Tue, 21 Aug 2018 05:00:36 +0000
A Travis County, Texas district court has sentenced Gary Hunt of Austin on workers’ compensation fraud charges. Hunt reported a job-related injury while working as a sales coach for Radiant Plumbing Service Inc., and claimed he was unable to work …
Tue, 21 Aug 2018 05:00:05 +0000
Some Bayer AG investors were surprised to learn about the thousands of farmers lining up before U.S. courts to argue that Roundup — the blockbuster weedkiller the German company recently acquired when it bought Monsanto Co. — had given them …
Tue, 21 Aug 2018 04:27:36 +0000
Baldwin Risk Partners (BRP), the Tampa, Fla.-based insurance distribution and consulting holding company, is pleased to announce the appointment of John Valentine as chief partnership officer. Valentine joins BRP with more than 17 years’ experience clo...
Tue, 21 Aug 2018 04:16:00 +0000
Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports last week. Everest Re was among those negatively impacted, with a preannoun...
Tue, 21 Aug 2018 04:15:49 +0000
An explosion and fire destroyed a coffee shop Friday in a rural south Georgia city, seriously injuring three people and prompting a warning from city officials for residents to avoid the downtown area. The blast rocked tiny Homerville, a city …
Mon, 20 Aug 2018 23:58:23 +0000
California is finalizing the details of a plan that could let PG&E Corp. issue bonds to cover potential damages from wildfires that destroyed thousands of homes last year. The details are still being worked out, and a proposal may be …
Mon, 20 Aug 2018 23:54:30 +0000
The Workers’ Compensation Insurance Rating Bureau of California on Monday submitted an advisory pure premium rate filing lower than last year’s approved rate to the California Insurance Commissioner. The advisory pure premium rates proposed to be effec...
Mon, 20 Aug 2018 16:38:53 +0000
The National Weather Service confirms a tornado hit the central Mississippi city of Madison. The agency, in a Twitter post Saturday, said a survey team confirmed Friday’s damage was the result of an EF1 tornado. Several trees were snapped along …
Mon, 20 Aug 2018 15:10:43 +0000
Republican Rep. Matt Manweller is suing Central Washington University and the investigator it hired to look into allegations of inappropriate conduct. Manweller, a political professor at the college since 2003, was fired from the school last week, and ...
Mon, 20 Aug 2018 15:08:24 +0000
A jury has found the Nevada Division of Forestry liable for the loss of 23 homes and 17 other buildings in a 2016 wildfire after strong winds re-ignited a prescribed burn. The verdict set the stage for future court proceedings …
Mon, 20 Aug 2018 15:06:05 +0000
A climate prediction report issued by the National Weather Service says Oregon will remain hot, dry and smoky well into autumn this year. The Statesman Journal reported that forecast in the report released last week means that the state’s existing …
Mon, 20 Aug 2018 14:46:03 +0000
California utilities won’t get a break from lawmakers who were weighing changes to state liability laws that expose the companies to billions in potential damages from last year’s wildfires. Lawmakers don’t have enough time to study and pass a bill …
Mon, 20 Aug 2018 14:24:25 +0000
Specialty insurer Jewelers Mutual Group has purchased the assets of TransGuardian Inc., a high-value item shipping and logistics software company. Terms of the transaction were not disclosed. Jewelers Mutual partnered with TransGuardian in 2017 to deve...
Mon, 20 Aug 2018 13:53:28 +0000
President Donald Trump said on Friday he had asked the U.S. Securities and Exchange Commission to study the impact of allowing companies to file reports with the financial regulator every six months instead of every quarter. “That would allow greater …
Mon, 20 Aug 2018 13:36:17 +0000
Days after touring areas of eastern Pennsylvania that were hard-hit by flooding, Governor Tom Wolf has signed a “disaster emergency” proclamation for the area. Friday’s move allows the state to ask for a federal disaster declaration and seek funding for …
Mon, 20 Aug 2018 13:30:13 +0000
A Massachusetts dessert company that accused its ice cream supplier of destroying its business by secretly altering the recipe has been awarded $720,000. The jury verdict came Friday in the legal battle between 600 lb Gorillas Inc. and New Jersey-based …
Mon, 20 Aug 2018 13:13:50 +0000
Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has hired Jerry Ascolese to join its casualty practice as vice president. Ascolese will be based in New York City – a new region for Socius. Ascolese bri...
Mon, 20 Aug 2018 13:05:39 +0000
Plymouth Rock Assurance has announced that A.M. Best Rating Services Inc. upgraded the financial strength ratings of the Palisades Group and High Point Homeowners Group to A- (Excellent). In addition, their long-term issuer credit ratings have been upg...
Mon, 20 Aug 2018 13:01:15 +0000
Richard DePiero has joined Sompo Pro, the U.S. professional liability insurer unit of Sompo International, as senior vice president, U.S. Cyber Product leader. DePiero will be responsible for Sompo Pro’s U.S. cyber and network security offerings. He br...
Mon, 20 Aug 2018 12:52:10 +0000
Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States. …
Mon, 20 Aug 2018 12:30:17 +0000
Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study released by insurance industry …
Mon, 20 Aug 2018 10:26:15 +0000
Some 800,000 people have been displaced and over 350 have died in the worst flooding in a century in southern India’s Kerala state, as authorities rushed to bring drinking water to the most affected areas, officials said Sunday. At least …