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

New York Teen Gets Probation, Psychiatric Care in Friend’s Fire Death

A teenager who has been in and out of the hospital with mental health problems since the death of a friend in a massive fire the boys started was sentenced Tuesday to a year of probation. A Family Court judge …

Octo Telematics Offers Insurers Distracted Driving Scoring Feature

Octo Telematics is making available a distracted driving scoring and analysis feature within its suite of telematics products used by its more than 60 auto insurer customers. The scoring feature is available for both in-vehicle and mobile solutions that include …

JPMorgan Not Liable to Madoff Customers, Court Rules

JPMorgan Chase & Co. is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on …

MGA Pen Underwriting & Markel Partner to Offer UK Equine Cover

Pen Underwriting has formed a new strategic partnership with specialist insurer Markel International to further consolidate Pen’s presence in the UK equestrian market and drive the company’s product innovation in the sector. Markel is an established and leading name in …

Willis Updates ‘Unify’ Platform in Response to New Solvency II Challenges

Willis Towers Watson has released an updated version of “Unify,” the systems integration and workflow platform. Unify 2.0 introduces new features in response to the tightening of reporting timescales under Solvency II, which continue to pressure insurers to process vast …

Eastern Newfoundland Windstorm Costs Insurers US$32.5M

A windstorm that hit eastern Newfoundland on March 11, 2017 has resulted in almost C$45 million (US$32.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting statistics from Catastrophe Indices and Quantification Inc. (CatIQ). Wind gusts …

Hamilton Re Announces Management Team Appointments

Hamilton Re, the Bermuda platform of Hamilton Insurance Group, announced the following appointment and senior role changes in its management team: Minesh Shah has joined Hamilton Re in the newly created role of senior vice president, Actuary. Shah reports to …

Hackers’ Ransom Demands Rise as Victims Keep Paying: Symantec

Hackers are demanding increasingly hefty ransoms to free computers paralyzed with viruses, as cyber criminals seek to maximize profits from large numbers of victims willing to pay up, according to cyber security firm Symantec Corp. The average demand embedded in …

Political Risk Tops List of Worries for Insurers Across Globe: GS Survey

Political risk is the biggest concern this year for insurers globally, following several shock outcomes in 2016, a survey of insurers managing $10 trillion in assets showed on Thursday. Political events have overtaken issues such as worries about an economic …

Biohazard Cleanups Not Pretty-and Neither Are the Costs to Insurers

If Peter Duncanson is on the scene, it’s probably not pretty. It could be a CSI-like crime scene with spattered blood and skin fragments on the sofa and wall. Or a trauma scene where an injured employee or animal traipsed …