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Motorhome Hire NewsCommentary: Accounting for Non-Modeled Sources of Loss The purpose of modeling is to anticipate the likelihood and severity of catastrophes so that companies can prepare for their financial impact — before they occur. The evidence suggests that, for the most part, modeling has achieved its mission. Eleven … The article Commentary: Accounting for Non-Modeled Sources of Loss appeared first on Insurance Journal. Florida Municipal Insurance Trust Issues $20 Million Cat Bond A Florida insurance trust that provides property insurance and other products to cities around the state has issued a $20 million private placement catastrophe bond to help pay claims due to hurricanes. Towers Watson Capital Markets, a wholly-owned subsidiary of … The article Florida Municipal Insurance Trust Issues $20 Million Cat Bond appeared first on Insurance Journal. Top 10 U.S. Insurers in Tornado-Stricken States: SNL Financial The Moore, Oklahoma tornado, which killed 24 people, was the deadliest to touch down during a nearly weeklong outbreak across the U.S. Midwest. The states hardest hit have been Kansas, Missouri, Texas and Oklahoma, according to SNL Financial. The devastation … The article Top 10 U.S. Insurers in Tornado-Stricken States: SNL Financial appeared first on Insurance Journal. London Underwriter Becomes First to Insure California Carbon Credits Parhelion Underwriting Ltd. became the first insurer to offer a policy to protect companies from the invalidation of carbon offset credits sold as part of California’s cap-and-trade program. Parhelion, based in London, will sell insurance for permits originally issued by … The article London Underwriter Becomes First to Insure California Carbon Credits appeared first on Insurance Journal. North Carolina Man Charged with Insurance Fraud North Carolina authorities have accused a Lincoln County man of filing a fake report of a stolen motorcycle and trailer to get money from an insurance company. The Charlotte Observer reported that 38-year-old William Minford Chatham III of Vale is … The article North Carolina Man Charged with Insurance Fraud appeared first on Insurance Journal. Vermont Sues Patent Owner Under Its Consumer Protection Act Vermont sued a patent owner over claims it violated the state’s Consumer Protection Act, saying it’s the first state to file such a complaint against a company whose business is suing for patent infringement. The state sued MPHJ Technology in … The article Vermont Sues Patent Owner Under Its Consumer Protection Act appeared first on Insurance Journal. Lloyd’s Report Highlights Solar Storm Threat as Emerging Risk “A large solar storm could leave tens of millions of people in North America without electrical power for several months, if not years, potentially costing trillions of dollars,” according to Lloyd’s latest emerging risks report: “Solar Storm Risk to the … The article Lloyd’s Report Highlights Solar Storm Threat as Emerging Risk appeared first on Insurance Journal. Ratings Recap: Dubai Insurance, Jupiter, Ardelis, TT Club A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR) of “bbb” and the financial strength rating (FSR) of ‘B++’ (Good) of United Arab Emirates-based Dubai Insurance Company … The article Ratings Recap: Dubai Insurance, Jupiter, Ardelis, TT Club appeared first on Insurance Journal. S&P Assesses Insurance Industry and Country Risk Shaping Insurance Markets A report by Standard & Poor’s Ratings Services notes that “for the two main insurance sectors, life and property/casualty (P/C), overall industry and country risks are, on average, much lower in developed than in emerging markets.” S&P explained that it … The article S&P Assesses Insurance Industry and Country Risk Shaping Insurance Markets appeared first on Insurance Journal. Justice Dept.: No Financial Firm Is ‘Too Big to Jail’ A Justice Department official insisted on Wednesday that no financial company is too big to jail, in the department’s latest effort to backpedal from statements made in March by Attorney General Eric Holder. “No institution and no individual is immune … The article Justice Dept.: No Financial Firm Is ‘Too Big to Jail’ appeared first on Insurance Journal. AIG Sues Ex-U.Va. Lax Player Over Insurance Claim A former University of Virginia lacrosse player convicted of killing his ex-girlfriend is being sued by American International Group Inc. over his refusal to answer questions from insurance investigators. In a court filing Monday, the company says George W. Huguely … The article AIG Sues Ex-U.Va. Lax Player Over Insurance Claim appeared first on Insurance Journal. Oklahoma Commissioner: 4K Home, Auto Claims from Twisters So Far More than 4,000 home and auto claims have been filed as a result of the recent spate of tornadoes in Oklahoma. That number is expected to rise, according to Oklahoma Insurance Commissioner John D. Doak. Doak has previously said that … The article Oklahoma Commissioner: 4K Home, Auto Claims from Twisters So Far appeared first on Insurance Journal. Brown & Brown to Acquire Insurance Broker Beecher Carlson Florida-based national insurance agency Brown & Brown Inc. has agreed to acquire Beecher Carlson Holdings Inc., an insurance and risk management broker with operations that include retail brokerage, program management and captive management, from Austin Ventures, FSPM and a group … The article Brown & Brown to Acquire Insurance Broker Beecher Carlson appeared first on Insurance Journal. $70M Reduction For Auto Club’s Southern California Drivers California Insurance Commissioner Dave Jones and Robert Bouttier, CEO of the Automobile Club of Southern California, announced a rate reduction for Auto Club policyholders in California totaling $70 million. The reduction represents a decrease of 4.1 percent. It is effective … The article $70M Reduction For Auto Club’s Southern California Drivers appeared first on Insurance Journal. PIA: Agencies See Significant Underwriting Changes in Homeowners Market The Professional Insurance Agents’ (PIA) recent survey of more than 400 independent agencies showed significant market changes in the Northeast — with the homeowners insurance and commercial property market appearing to be most affected by the shift. More than 400 … The article PIA: Agencies See Significant Underwriting Changes in Homeowners Market appeared first on Insurance Journal. Trident, McGowan Cos. to Offer Public Entity Coverage in Pennsylvania Trident Insurance Services, LLC, a member of Argo Group International Holdings, Ltd., has formed an exclusive business relationship with The McGowan Cos. to offer access to its public entity insurance program in Pennsylvania. The public entity insurance program—underwritten by Trident … The article Trident, McGowan Cos. to Offer Public Entity Coverage in Pennsylvania appeared first on Insurance Journal. Mills of Willis Joins AmWINS Workers’ Compensation Unit, American Equity Andrea Mills has joined American Equity Underwriters (AEU) in Mobile, Alabama as senior vice president and director of Strategic Business Development. AEU is a division of wholesale broker AmWINS Group, based in Charlotte, North Carolina. AEU specializes in workers’ compensation … The article Mills of Willis Joins AmWINS Workers’ Compensation Unit, American Equity appeared first on Insurance Journal. PIAA Rebrands to Correspond with Current Role in MPL Field The Physician Insurers Association of America (PIAA) has made changes to its organizational brand to support the Association’s role in the medical professional liability (MPL) community. They also reflect the impact that the changing landscape in the delivery of healthcare … The article PIAA Rebrands to Correspond with Current Role in MPL Field appeared first on Insurance Journal. Michigan Democrats Lay Out Auto Insurance Bills Detroit’s Democratic state House Caucus is laying out an effort to change Michigan’s auto insurance policies. The package of legislation was revealed during a news conference in Detroit. Republicans control the state Legislature. Under the proposal, insurance companies couldn’t use … The article Michigan Democrats Lay Out Auto Insurance Bills appeared first on Insurance Journal. Reinsurance Group of America to Hire Hundreds in St. Louis Area A St. Louis, Mo.-based insurance company has vowed to add at least 300 employees within five years. The Reinsurance Group of America discussed the hiring spree while breaking ground on a new, $140 million headquarters complex in suburban Chesterfield. RGA … The article Reinsurance Group of America to Hire Hundreds in St. Louis Area appeared first on Insurance Journal. Wisconsin Police Aggressive in Redacting Accident Reports Brenda O’Malley figured she’d get the police accident report and file an insurance claim after her teenage daughter got into a car accident in Sheboygan Falls this past spring. But the report turned out to be so redacted – or … The article Wisconsin Police Aggressive in Redacting Accident Reports appeared first on Insurance Journal. Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’ In Moore, Oklahoma, an area residents call Tornado Alley because it’s struck by more ferocious twisters than anywhere in the U.S., two schools destroyed by yesterday’s storm lacked “safe room” shelters that would have cost $600,000 to $1 million per … The article Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’ appeared first on Insurance Journal. Record Rain Leading to Flooding in North Dakota Heavy rains that have been falling since late last week have led to flooding in North Dakota that has forced some residents from their homes and threatened a dam. Water from a creek and water that is moving overland flooded … The article Record Rain Leading to Flooding in North Dakota appeared first on Insurance Journal. Nevada Senate Approves Driving Privilege Cards The Nevada Senate has overwhelming approved a bill authorizing driving privilege cards for non-U.S. residents. Monday’s vote was 20-1. SB303 now goes to the Assembly where passage is expected. Republican Gov. Brian Sandoval also backs the proposal. Democratic Senate Majority … The article Nevada Senate Approves Driving Privilege Cards appeared first on Insurance Journal. Colorado Stoned-Driving Bill Attracts Lawsuit A frequent marijuana user who says Colorado’s pending pot DUI legislation violates the constitution is suing to block the bill. Brandon Baker, of Nunn, said he uses marijuana for religious reasons and that the blood limit at which drivers would … The article Colorado Stoned-Driving Bill Attracts Lawsuit appeared first on Insurance Journal. Edison, CPUC Reach $37M Settlement on Southern California Fire The California Public Utilities Commission has reached a proposed $37 million settlement with Southern California Edison over fallen power lines blamed for starting the October 2007 Malibu Canyon Fire. Santa Ana winds knocked three jointly owned utility poles to the … The article Edison, CPUC Reach $37M Settlement on Southern California Fire appeared first on Insurance Journal. Shestack to Lead New AmWINS Voluntary Benefits Practice Wholesale insurance broker AmWINS Group Benefits has opened a voluntary benefits division to offer supplemental benefits to benefit professionals and their clients including life, dental, vision, accident, short-term disability, critical illness, cancer and medical gap insurance. The Voluntary Benefits Practice … The article Shestack to Lead New AmWINS Voluntary Benefits Practice appeared first on Insurance Journal. Georgia’s Denham Agency Joins Keystone Group The Denham Agency, an Americus-based insurance agency, has become the 14th Keystone Insurers Group partner in Georgia. The Denham Agency was established in 1984 by current president Mike Denham. In 2011, the agency formed a satellite office in Cordele, Georgia. … The article Georgia’s Denham Agency Joins Keystone Group appeared first on Insurance Journal. Miami-Dade School Officers Settle Sex Abuse Claims Against Police Chief Two female police officers with the Miami-Dade County school system have settled lawsuits accusing the former police chief of sexually harassing them. Cmdr. Deanna Fox-Williams and Officer Yewande Gibson claimed in the lawsuits that former chief Charles Hurley asked them … The article Miami-Dade School Officers Settle Sex Abuse Claims Against Police Chief appeared first on Insurance Journal. Costs Outpace Resources for Volunteer Firefighters in Mississippi Fire trucks and other firefighting equipment cost a lot of money, and prices are rising, so Warren County volunteer districts are looking to possibly seek an increase in property taxes. “We’re getting squeezed and squeezed by costs,” said Chuck Tate, … The article Costs Outpace Resources for Volunteer Firefighters in Mississippi appeared first on Insurance Journal. |
