Tennessee regulators have fined a chemical plant $25,000 for an explosion that shut down an interstate and put several schools on lockdown. WRCB-TV reported that the Tennessee Occupational Safety and Health Administration cited Wacker Chemie for seven violations stemming from …
A wildfire that burned around 500 acres inside the city limits of Amarillo, Texas, has been contained but not before threatening the city’s regional medical center. The fire was one of several that have plagued the Texas panhandle in the …
Service Insurance Holdings Inc. (SIHI), parent of Texas-based workers’ compensation insurer, Service Lloyds Insurance Co., has acquired American Healthcare Indemnity Co. (AHIC), an Oklahoma-based insurer. The new entity will be rebranded as Service American Indemnity Co. The acquisition is a …
As a teenager working for his dad’s construction business, Noah Ready-Campbell dreamed that robots could take over the dirty, tedious parts of his job, such as digging and leveling soil for building projects. Now the former Google engineer is turning …
Uber Technologies Inc. should be classified as the same type of transportation as limousines and tour buses, a California regulator said on Monday in a proposal that could change how the ride-hailing company is regulated in its home state. A …
The technology behind autonomous vehicles has originated from coders in Silicon Valley, engineers in Detroit and academic researchers in Pittsburgh. Much of it eventually lands on the streets of Arizona, a state that’s done more than any other to welcome …
This week’s Lowdown highlights interesting results from a new report by Parks Associates entitled, Market Snapshot: Insurance, Consumers, and Smart Home Solutions. The survey reveals that nearly 60% of respondents, (consumers with homeowners or renters insurance), are likely to purchase …
The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The 2017 underwriting loss was mainly due …
Michael McRaith, former director of the U.S. Department of the Treasury’s Federal Insurance Office (FIO), has been named managing director for Blackstone Insurance Solutions (BIS), a newly formed business offering Blackstone’s investment management services to insurers. McRaith’s appointment follows Blackstone’s …
Marc Grandisson is the new CEO of Arch Capital Group. Ltd., following the previously announced retirement of longtime leader Constantine “Dinos” Iordanou. Arch disclosed in a regulatory filing that Grandisson, 50, most recently president and chief operating officer, has been …
