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Business Insurance

Axis Insurance names head of E&S property
Axis Insurance, the Pembroke, Bermuda-based insurance unit of Axis Capital Holdings Ltd., has named Marc Nance executive vice president of excess and surplus property.

POSTED JUNE 26, 2017 11:55 AM
Supreme Court to hear baker's religious objection to making cake for gay couple
(Reuters) — The Supreme Court agreed to decide a major case on whether business owners can refuse to service gay couples if they oppose same-sex marriage on religious grounds.

POSTED JUNE 26, 2017 11:22 AM
China, Canada vow not to conduct cyber attacks on private sector
(Reuters) — China and Canada have signed an agreement vowing not to conduct state-sponsored cyber attacks against each other aimed at stealing trade secrets or other confidential business information.

POSTED JUNE 26, 2017 10:42 AM
XL Catlin offers US workplace violence insurance
XL Catlin has entered an exclusive underwriting agreement in the United States with The McGowan Cos. to provide workplace violence insurance to U.S. businesses.

POSTED JUNE 26, 2017 10:31 AM
High court to review scope of Dodd-Frank whistleblower protections
(Reuters) — The Supreme Court has agreed to take up a case that promises broad implications for when corporate insiders who blow the whistle on alleged misconduct can be shielded from retaliation by their employers.

POSTED JUNE 26, 2017 9:26 AM
Anthem to pay record $115M to settle lawsuits over data breach
(Reuters) — Anthem Inc. has agreed to settle litigation over a hack in 2015 that compromised about 79 million people's personal health information for $115 million.

POSTED JUNE 26, 2017 9:04 AM
Hartford to transfer pension liabilities to Prudential
(Reuters) — Hartford Financial Services Group Inc. said on Monday it would transfer $1.6 billion, or 29%, of its pension liabilities to Prudential Financial Inc.

POSTED JUNE 26, 2017 8:32 AM
Cyber insurance uptake booms
Japanese insurers said that the number of cyber insurance policies taken out by local businesses have increased, with Mitsui Sumitomo Insurance Co. Ltd. reporting a growth of 250% in the fiscal year ended March 30.

POSTED JUNE 26, 2017 4:00 AM
Takata bankruptcy likely to shift $5 billion in costs to carmakers, suppliers
The expected bankruptcy of Japan-based automobile parts maker Takata Corp. may cause automakers to cover the difference if Takata's financial assets are not enough to pay for recalls and replacement of defective parts.

POSTED JUNE 26, 2017 4:00 AM
Suncorp ups takeover bid for Tower to more than $170 million
Australia-based insurer Suncorp Group Ltd. has made an improved takeover bid for New Zealand-based insurer Tower Ltd. and is now offering more than $236 million New Zealand ($172 million) from about NZD 219 million previously.

POSTED JUNE 26, 2017 4:00 AM

News – Insurance Journal

Tropical Storm Cindy Drenches Southeast
  Floodwaters from Tropical Storm Cindy covered timberland and fields across the rural Deep South on Saturday, but the sun peeked out enough to offer hope that the worst was over. Swollen by heavy rains and flowing quickly, the Chickasawhay …

POSTED JUNE 26, 2017 4:54 PM
Texas Ex-Track Coach’s Discrimination Suit to Proceed
The Texas Supreme Court has refused to block a sex and race discrimination lawsuit filed against the University of Texas by former women’s track coach Bev Kearney, who was forced out after the school learned of a romantic relationship with …

POSTED JUNE 26, 2017 4:29 PM
Oklahoma’s Tulsa County to Pay Ex-Deputy $138K in Wrongful Termination Suit
Tulsa County has agreed to pay nearly $138,000 to a former sheriff’s deputy to settle a wrongful termination lawsuit that claimed he and others were ousted in fallout from the fatal shooting of an unarmed black man in 2015. County …

POSTED JUNE 26, 2017 4:26 PM
Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its members. Lloyd’s plans to introduce a …

POSTED JUNE 26, 2017 4:25 PM
Missouri Judge OKs $1.5M Settlement in Brown Family Wrongful Death Suit
A federal judge in St. Louis on June 20 approved a $1.5 million settlement in a wrongful death lawsuit filed by Michael Brown Sr. and Lezley McSpadden. Their 18-year-old son was unarmed on Aug. 9, 2014, when he was fatally …

POSTED JUNE 26, 2017 4:22 PM
Jury Says Syngenta Must Pay Kansas Farmers $217.7M in GMO Corn Case
A U.S. jury has ordered Syngenta AG to pay $217.7 million to more than 7,000 Kansas farmers over its decision to commercialize a genetically modified strain of corn before China approved importing it. The June 23 verdict by a federal …

POSTED JUNE 26, 2017 4:15 PM
Halter Named Director of AF Specialty
AF Group, headquartered in Lansing, Mich., has appointed Eric Halter as director of AF Specialty, a new brand focused on providing fronting capacity to insurance carriers, managing general agents, reinsurance intermediaries and captive managers. Halter will partner with entities who …

POSTED JUNE 26, 2017 4:10 PM
Existing EU Contracts Must Be ‘Grandfathered’ After Brexit to Avoid Complexity: Lloyd’s CEO Beale
Existing European Union insurance policies should stay in place after Britain leaves the bloc because the process of dividing them into British and EU contracts would be too complex, Lloyd’s of London Chief Executive Inga Beale said. The Lloyd’s of …

POSTED JUNE 26, 2017 4:07 PM
Number of Compound Drug Prescriptions Falling in Texas Workers’ Comp System
A report released in May by the Texas Department of Insurance – Division of Workers’ Compensation shows that while the number of compounded drug prescriptions in the workers’ comp system grew between 2010 and 2014, there was a steady decrease …

POSTED JUNE 26, 2017 4:03 PM
AIR Worldwide Launches Crop Hail Model for Canada
Catastrophe risk modeling firm AIR Worldwide announced it has released a Crop Hail Model for Canada to provide crop insurers with a probabilistic view of crop hail risk in Canada. Based on 10,000 simulations of potential annual hail activity, the …

POSTED JUNE 26, 2017 3:12 PM

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