July 20, 2016
By taking advantage of legal appeals processes, an Illinois managing general agency has been able to continue operations for more than a year despite having its license revoked or non-renewed by two separate state insurance departments. Northern Illinois Insurance Agency, …
July 20, 2016
The storms that hit Saskatchewan, Manitoba and Ontario in Canada on June 24 and 25 caused more than C$34 million ($25.9 million) in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ).* Wind, flash floods and hail …
July 20, 2016
Parts of east-central Minnesota are still trying to cope with floodwaters and subsequent damage nearly a week after torrential rains fell across a huge swath of the state. Kanabec County Sheriff Brian Smith told Minnesota Public Radio that communities flooded …
July 20, 2016
Arkansas Insurance Commissioner Allen Kerr has approved two new out-of-state insurers to do business in the state. Medical Liability Alliance (MLA) of Jefferson City, Mo., has been granted authority to offer casualty insurance. MLA, a stock property/casualty insurance company formed …
July 20, 2016
A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil spill in 2010. Online court …
July 20, 2016
A disaster emergency proclamation has been issued for three Iowa counties pummeled in weekend storms. The proclamation issued by Gov. Terry Branstad lets state resources be used in storm recovery in Benton, Humboldt and Wright counties. The storms damaged apartment …
July 20, 2016
Dallas-based Ascend Insurance Brokerage President and CEO Paul Bassman has closed on the acquisition of the company, purchasing the business from James Chippendale, who founded Ascend in 2001. Ascend specializes in the entertainment business and has placed coverage for hundreds …
July 20, 2016
Cybersecurity is the biggest concern for companies evaluating risk in the nascent self-driving vehicle industry, according to a survey conducted by Munich Re. The world’s second-biggest reinsurer found that 55 percent of corporate risk managers surveyed named cybersecurity as their …
July 20, 2016
Maine’s Clark Insurance has added four employees in its Portland office. Nicholas Jobin of Westbook has been hired as an associate Aacount manager in the Business Insurance Services Department. Jobin is a graduate of St. Joseph’s College of Maine. Dana …
July 20, 2016
As internet-connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a profit from motor insurance due to intense competition and …