Monthly Archives: <span>April 2017</span>

Insurance Costs for Windstorm Egon Rise to €234M ($243M): PERILS

The revised estimate of property insurance losses for Windstorm Egon, which hit France and Germany on Jan. 12-13, 2017, is €234 million ($243 million), according to PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data. The cold …

Cyber Insurance: Many Choices Now That There Is No Choice

Every organization, of every size and operational orientation, needs cyber insurance to manage its exposures in this age of networked information. That was one thing speakers agreed on at the recent 2017 Cyber Liability Symposium held by the Professional Liability …

Pennsylvania’s Keystone Insurers Hires Craig from The Beacon Group

Keystone Insurers Group, a Northumberland, Penn.-headquartered property and casualty insurance partnership, has named Charles A. “Tripp” Craig III director of business development. Craig has 30 years of experience in the insurance industry, most recently as a senior insurance executive for …

Zenefits Fined $1.2M for Violations of New York Insurance Law

The New York State Department of Financial Services (DFS) has fined YourPeople Inc., doing business as Zenefits FTW Insurance Services, $1.2 million for allowing unlicensed employees to sell insurance and failing to implement adequate compliance controls and employee training, according …

Cyber Breaches Permanently Hit Share Prices, Especially Financials: Study

Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those having legal or regulatory consequences, involve the loss …

Costly Business Disruptor: Aging U.S. Infrastructure

When a train jumped the tracks this past week at New York’s Penn Station, the seemingly minor accident led to a cascade of exasperating delays for hundreds of thousands of commuters. When a flood forced authorities to condemn a one-lane, …

Industry’s International Diversity & Inclusion Festival to Be Held Sept. 26-28

The insurance industry’s third annual diversity and inclusion festival, called Dive In, will be held Sept. 26-28 at events across the globe. Marsh, Willis Towers Watson, XL Catlin and Aon are continuing their year-on-year support of the festival and will …

Alabama Authorities Investigate 40 Fires Set Over 8 Months

Authorities are investigating a series of fires in the City of Birmingham, Alabama, set from September 2016 to present. The Bureau of Alcohol, Tobacco, Firearms and Explosives has released a statement seeking information on 40 fires in the Ensley and …

Dead Bat Found in Fresh Express Packaged Salad in Florida

A recall has been issued after two people in Florida found a dead bat in the packaged salad they were eating. The Miami Herald reports that Fresh Express has recalled its Organic Marketside Spring Mix, which was shipped to Wal-Mart …

Mississippi City Builds New Water Tower to Improve Fire Rating

Officials say a new water tower will result in lower property insurance rates in a recently annexed area of Tupelo, Miss. The Northeast Mississippi Daily Journal reports the $1.2 million water tower began operations last week. Tupelo Water & Light …