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Alabama Community Unveils Memorial For 1K Residents in Lost in 2011 Twisters
Overcast skies and a misty rain mirrored the mood of this tiny community as it came together to remember the 14 Lawrence County residents who died in the April 27, 2011, tornadoes. “They will never be forgotten,” an emotional Kristi …

POSTED APRIL 26, 2017 4:57 PM
31 Students Awarded Scholarships from Insurance Council of Texas
The Insurance Council of Texas (ICT) Education Foundation recently awarded a total of $34,500 in academic scholarships to 31 students at five Texas universities. The students attend the University of Houston Main campus, the University of Houston Downtown the University …

POSTED APRIL 26, 2017 4:49 PM
Kansas Tightens Amusement Park Regulations after Boy’s Waterslide Death
The death of a colleague’s son has spurred the governor in the often anti-regulation Kansas to toughen the state’s inspection requirements for amusement parks. A new law signed by Republican Gov. Sam Brownback strengthens the state’s amusement park regulations, which …

POSTED APRIL 26, 2017 4:46 PM
Contract for Louisiana Flood Aid Program Administrator to Cost $227M
Louisiana’s contract with disaster recovery firm IEM to administer a homeowner flood aid program is estimated to cost $227 million. The Greater Baton Rouge Business Report says the state has completed its deal with IEM to manage the $1.3 billion …

POSTED APRIL 26, 2017 4:43 PM
Crashes at North Carolina Rail Crossings Down 42% in 2016
A North Carolina rail safety group says collisions at highway crossings dropped by 42 percent in 2016. The report from North Carolina Operation Lifesaver says there were 39 collisions last year, compared with 67 in 2015. Also, the report says …

POSTED APRIL 26, 2017 4:41 PM
Bad: Train Clips Mirror; Worse: Louisiana Driver Opens Door, Loses It
After a train clipped a side mirror off a car, the driver lost his whole door when he pulled up to another intersection and opened it to tell the crew, police in southwest Louisiana said. Nobody was hurt, and 64-year-old …

POSTED APRIL 26, 2017 4:40 PM
Arthur J. Gallagher Acquires Oklahoma’s Commercial Insurance Brokers
Arthur J. Gallagher & Co. has acquired  Tulsa, Oklahoma-based Commercial Insurance Brokers LLC. Terms of the transaction were not disclosed. Formed in 2012, Commercial Insurance Brokers is a group of insurance producers and service personnel offering a broad range of …

POSTED APRIL 26, 2017 4:23 PM
Uninsured Driver Bill Signed by Oklahoma Governor
Oklahoma Gov. Mary Fallin has signed legislation aimed at further reducing the number of uninsured drivers in Oklahoma. Senate Bill 115 transfers oversight of the Compulsory Insurance Online Verification System (OCIVS) for motor vehicle liability policies from the Department of …

POSTED APRIL 26, 2017 4:22 PM
Sealy of Minnesota to Pay $175K in Racial Harassment Case
Sealy of Minnesota has agreed to pay $175,000 to resolve a charge of racial harassment filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC said an investigation found that Sealy, a mattress and box …

POSTED APRIL 26, 2017 4:19 PM
Wagenschutz Tapped to Lead Michigan Auto Insurance Placement Facility
The Michigan Automobile Insurance Placement Facility (MAIPF) has named Mark Wagenschutz as executive director. Wagenschutz will oversee the organization’s mission to guarantee that automobile insurance is available to Michigan citizens who are unable to obtain it in the competitive market. …

POSTED APRIL 26, 2017 4:18 PM
Feds Grant Nearly $11M to Indiana to Fight Heroin, Opioid Abuse
A federal agency has awarded Indiana nearly $11 million to fight the state’s opioid abuse crisis. The state’s funding from the Health and Human Services is among $485 million the agency recently awarded to all 50 states and several U.S. …

POSTED APRIL 26, 2017 4:17 PM
SEC Awards $4 Million to Whistleblower
The Securities and Exchange Commission has awarded nearly $4 million to a whistleblower who tipped the agency with about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise. “Not only did this whistleblower step forward …

POSTED APRIL 26, 2017 4:17 PM
Chubb’s Greenberg Clarifies Criticism of Wholesale Brokers
In the London and other wholesale insurance markets, the practice of some brokers bundling similar accounts into high-volume portfolios to be more efficient and attract underwriters while still expecting bigger brokerage commissions has “gone beyond reasonable,” Chubb CEO and President Evan Greenberg …

POSTED APRIL 26, 2017 3:53 PM
Poor Fire Safety at Two-Thirds of Schools in Oregon’s Largest City
Two-thirds of schools in Oregon’s largest district lack sufficient fire safety equipment, according to records obtained by the Oregonian/OregonLive. Portland Public Schools has 60 of 89 schools lacking up-to-date alarm systems, complete fire sensor coverage or other life-saving equipment required …

POSTED APRIL 26, 2017 3:20 PM
Idaho City Assessing Flood Risks Prior to Federal Maps Release
Boise, Idaho officials have expressed concerns with federal maps that propose adding hundreds of acres to a flood plain in the city, which could increase the cost and difficulty of buying or developing nearby property. The city disagrees with the …

POSTED APRIL 26, 2017 3:17 PM
Hippo Launches with Promise of 60-Second Homeowners Insurance Quote
An insuretech company launched in California today with the promise of providing online homeonwers insurance quotes in 60 seconds in what the Mountain View, Calif.-based company is calling “the most fundamental redesign of home insurance in recent times.” Hippo Insurance …

POSTED APRIL 26, 2017 2:02 PM
Despite ‘Difficult’ Environment, Chubb Q1 Profit Tops $1 Billion
Chubb Limited reported net income for the quarter of $1.09 billion, compared with $439 million for the same quarter last year.  Operating income was $1.17 billion, compared with $1.01 billion, for the same quarter last year. The insurer’s property/casualty (P&C) combined ratio was 87.5 …

POSTED APRIL 26, 2017 1:54 PM
St. Joseph’s University Team Wins Spencer-RIMS Risk Management Challenge
At the Spencer Educational Foundation reception, RIMS board director and director of global risk management and insurance at PayPal Inc., Laura Langone, announced St. Joseph’s University’s student team as the winners of the Spencer-RIMS Risk Management Challenge. The team, comprised …

POSTED APRIL 26, 2017 1:38 PM
Massive Maryland Fire Leads to Estimated $39M Loss
Firefighters were still dousing hot spots Tuesday after a massive fire at a seven-story apartment building under construction near the University of Maryland. News outlets reported that firefighters were working to keep the fire that consumed the roof of the …

POSTED APRIL 26, 2017 1:20 PM
Sheriffs: Raise Massachusetts Pot Tax, Use Money for Addiction Treatment
Sheriffs urged Massachusetts lawmakers Monday to boost the tax consumers will pay on recreational marijuana and earmark the additional revenue for substance abuse prevention and treatment. The proposal was discussed at the final hearing of a special legislative committee that …

POSTED APRIL 26, 2017 1:04 PM
Many Large Investors Tackle Climate Risks with Greener Investments
Most of the world’s largest asset owners have gotten the message that climate change poses a risk to their portfolios and are pivoting toward greener investments. Funds worth $27 trillion that comprise 60 percent of the world’s biggest investors are …

POSTED APRIL 26, 2017 10:15 AM
Ed Names Howden’s Plummer as Chairman of Property & Casualty
Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of John Plummer as chairman of Property & Casualty. Plummer takes up his role with immediate effect. Plummer brings over 30 years of experience in the insurance industry to …

POSTED APRIL 26, 2017 9:09 AM
Canada’s Economical Strengthens Executive Team, Realigns Operations
Waterloo, Ontario-based Economical Insurance announced two additions to its executive team. Fabian Richenberger will join the company as executive vice president, Commercial Insurance, and Kelley Irwin will join as senior vice president and chief information officer, effective May 1, 2017. …

POSTED APRIL 26, 2017 9:00 AM
ILS Market Continues Growth Trend in Q1 2017: Willis Towers Watson
Non-life insurance-linked securities (ILS) capital grew again in Q1 2017, continuing the trend from 2016, according to the latest ILS Market Update from Willis Towers Watson Securities, the investment banking business of Willis Towers Watson. Following a strong Q4 2016, …

POSTED APRIL 26, 2017 8:30 AM
Global Protectionism Risks Economic Growth: Zurich, Atlantic Council
A rise in global protectionism stemming from a backlash against free trade and globalization could have significant impact on economic growth, poverty levels and the potential for military conflict, according to a new report from the Atlantic Council and Zurich …

POSTED APRIL 26, 2017 8:00 AM
XL Catlin Launches A&H Cover, ‘Protect & Assist,’ for UK Firms
XL Catlin has launched “Protect and Assist,” its accident and health insurance solution designed to help UK businesses protect their people and meet their duty of care in the face of emerging risks and heightened security threats. Protect and Assist …

POSTED APRIL 26, 2017 7:38 AM
FM Global Chooses Luxembourg as Post-Brexit EU HQ
U.S. commercial property insurer FM Global is planning a European hub in Luxembourg following Britain’s decision to leave the bloc, the head of its European division told Reuters. The mutual insurer, which earned $5.5 billion in gross premium last year, …

POSTED APRIL 26, 2017 7:30 AM
Supreme Court Weighs Limiting Where Corporations Can Be Sued
The U.S. Supreme Court on Tuesday appeared poised to clamp down on where corporations can be sued, a potential setback for plaintiffs’ lawyers who strive to bring cases in courts and locales they consider friendly. The nine justices in two …

POSTED APRIL 26, 2017 5:00 AM
Realities of Today’s Commercial Insurance Market: Willis Towers Watson
Fluid capital and ample capacity has kept the commercial insurance sector stable overall and also a buyers’ market. That reality holds despite potential regulatory and monetary policies pending in Washington, D.C. under the fledging Trump presidential administration, Willis Towers Watson …

POSTED APRIL 26, 2017 5:00 AM
Generali Expands in U.S. with Chicago, San Francisco Offices and 3 Hires
Generali is expanding its U.S. global corporate and commercial operations with the opening of offices in Chicago and San Francisco in a bid to grab more business from U.S. multinational companies. The Italian insurer’s growth comes through its Generali Global …

POSTED APRIL 26, 2017 5:00 AM

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