November 18, 2019
New England Insurance Group
Mon, 18 Nov 2019 06:00:56 +0000
The estate of Jeffrey Epstein wants to set up a fund using the late financier’s fortune to compensate women willing to forgo a spate of lawsuits seeking damages for sexual abuse, according to a court document filed on Thursday. In …
Mon, 18 Nov 2019 06:00:18 +0000
The U.S. Supreme Court on Friday agreed to hear Google’s bid to escape Oracle Corp.’s multi-billion dollar lawsuit accusing Google of infringing software copyrights to build the Android operating system that runs most of the world’s smartphones. Google...
Mon, 18 Nov 2019 05:42:47 +0000
On June 28, 2019, Florida Governor Ron DeSantis signed House Bill 301 into law and, in doing so, loosened regulatory restrictions and allowed insurers and their agents to utilize innovative technologies to reduce perils to insureds and the costs to …
Mon, 18 Nov 2019 05:33:52 +0000
The Hanover Insurance Group, Inc. has launched Hanover Financial Institutions Advantage, a new offering that provides small to mid-sized asset managers and depository institutions with coordinated property, casualty, management and professional liabili...
Sun, 17 Nov 2019 20:21:49 +0000
An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million. The decision by Cleveland County District …
Sun, 17 Nov 2019 20:14:18 +0000
The U.S. Federal Communications Commission has proposed taking back some of the spectrum long promised to automakers and re-allocating it to other wireless uses, according to people familiar with the matter. It’s a potentially significant development i...
Sat, 16 Nov 2019 00:35:01 +0000
Texas’ property insurer of last resort for wind and hail in counties along the Gulf Coast is finding itself once again between a rock and a hard place — or perhaps more appropriately, between a hurricane and a tornado — …
Fri, 15 Nov 2019 18:17:29 +0000
Venice suffered its second exceptionally high tide in a week, with waters rising 154 centimeters (61 inches) above their benchmark late morning Friday, the Ansa news agency reported. The historic city is still reeling from the 187-centimeter tide it re...
Fri, 15 Nov 2019 17:42:10 +0000
The state of Michigan is opening the door to the sale of marijuana for recreational use starting in December, which is earlier than expected. The Marijuana Regulatory Agency issued an advisory bulletin on Nov. 13. It says businesses that are …
Fri, 15 Nov 2019 17:27:49 +0000
A Tulsa, Oklahoma, man was sentenced to 15 months in prison and ordered to repay nearly $370,000 after being found guilty of stealing from his employer. Ernest Everette Howard, 49, of Tulsa, must $368,329.61 in restitution, according to the U.S. …
Fri, 15 Nov 2019 17:25:31 +0000
Daimler has taken a “reality check” on self-driving “robotaxis,” acknowledging that making them safe is proving harder than first thought amid questions over their future earnings potential. Chief Executive Ola Kaellenius told journalists on Thursday D...
Fri, 15 Nov 2019 17:11:29 +0000
A six-week public consultation launched [in London] on Friday will help set global standards to improve mining safety, aiming to prevent any repeat of the Vale tailings dam disaster in Brazil that killed 300 people in January. Tailings dams are …
Fri, 15 Nov 2019 17:09:50 +0000
Officials have agreed to settle a lawsuit over the death of a 37-year-old man, who died in 2011 after lying naked in a Tulsa County, Oklahoma, jail cell for five days with a broken neck. Documents filed in federal court …
Fri, 15 Nov 2019 17:07:26 +0000
Jennifer Mier, executive vice president with AmWINS Group in Dallas, has been elected president of the Texas Surplus Lines Association. Other officers elected at the group’s 64th Annual Meeting on Nov. 11 in Austin are: Vice President Amicia Hine, exec...
Fri, 15 Nov 2019 17:00:38 +0000
Anger over devastating California wildfires sparked by Pacific Gas & Electric power lines is coming to a head – in a beer. And an outcry is brewing. Steve Doty, owner of Shady Oak brewery in Santa Rosa, announced a new …
Fri, 15 Nov 2019 16:51:43 +0000
Allianz Global Corporate & Specialty SE (AGCS) and Allianz Deutschland AG announced leadership changes that will take effect from Dec. 1, 2019, subject to regulatory approval. Joachim Müller, currently CEO of Allianz Versicherungs-AG (the property & c...
Fri, 15 Nov 2019 15:28:44 +0000
A cyber attack on computer networks of the Mexican national oil company Pemex is “totally under control” and did not have any negative consequences, Security Minister Alfonso Durazo said on Thursday. The attack was first detected on Sunday and over …
Fri, 15 Nov 2019 15:13:27 +0000
Brit Ltd., the London-based insurer, announced it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium sized enterprises (SMEs) in both regions. The portal will give brokers an agile, user-friendly …
Fri, 15 Nov 2019 15:10:49 +0000
Steven D. Armstrong, FCAS, an insurance industry veteran with more than 25 years of experience, has begun his term as the president of the Casualty Actuarial Society (CAS). Armstrong has been actively involved with the CAS for two decades, having …
Fri, 15 Nov 2019 14:51:36 +0000
North American commercial insurance buyers will face sizable price increases in 2020, across most lines of insurance, according to insurance broker Willis Towers Watson’s 2020 Insurance Marketplace Realities. While the report finds that capacity is ava...
Fri, 15 Nov 2019 14:31:45 +0000
U.S. Supreme Court justices on Wednesday expressed sympathy toward allowing comedian and producer Byron Allen to pursue his racial bias lawsuit accusing cable television operator Comcast Corp. of discriminating against black-owned channels. Over the co...
Fri, 15 Nov 2019 14:29:40 +0000
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance unit of Allianz Group, has appointed Shanil Williams as global head of Financial Lines, effective Nov. 15, 2019. He succeeds Bernard Poncin, who will leave AGCS to pursue other opp...
Fri, 15 Nov 2019 14:24:27 +0000
The role of identity theft insurance as a supplemental product could evolve as personal cyber risks become more of a threat as technology proliferates further into individuals’ lives, according to a new A.M. Best report. In its current form, identity …
Fri, 15 Nov 2019 13:51:10 +0000
Pioneer Underwriters has decided to put its Lloyd’s Syndicate 1980 into run-off after completing an examination of “strategic and capital options for 2020.” Pioneer said it will be working with Asta, the managing agency of Syndicate 1980, to ensure a …
Fri, 15 Nov 2019 13:11:58 +0000
Hartford InsurTech Hub, powered by Startupbootcamp, has announced its 2020 cohort of startups. The past two cohorts have consisted of ten startups, and with the help of the Hub’s partners, the accelerator program decided to select 11 companies to reloc...
Fri, 15 Nov 2019 13:03:12 +0000
Insurers are not liable for crumbling foundations caused by defective concrete unless the home is on the verge of collapse, the Connecticut Supreme Court ruled. The decision will likely amplify public pressure for a government solution. Thousands of ho...
Fri, 15 Nov 2019 12:42:44 +0000
A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on the East Coast, under which city officials and a trade union will consult on the matter. …
Fri, 15 Nov 2019 12:08:40 +0000
The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman. “Women are arguably the single largest under-served g...
Fri, 15 Nov 2019 07:32:40 +0000
Federal transportation safety investigators criticized the U.S. Coast Guard Wednesday for ignoring suggestions over nearly two decades to improve tourist duck boats, changes they say might have prevented last year’s Missouri accident that killed 17 peo...
Fri, 15 Nov 2019 06:34:32 +0000
Michigan drivers who want unlimited medical coverage for crash injuries will pay $100 per vehicle starting in July, which will be 55% less than the record-high $220 annual fee they currently pay. The Michigan Catastrophic Claims Association, a state-cr...