Monthly Archives: <span>March 2021</span>

EU Threatens to Ban COVID Vaccine Exports to Britain

BRUSSELS – The European Union threatened on Wednesday to ban exports of COVID-19 vaccines to Britain to safeguard scarce doses for its own citizens facing a third wave of the pandemic that would jeopardize plans to restart travel this summer. …

Assessing Delegated Underwriting Authorities, MGAs: AM Best Explains

Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general underwriters, program administrators and other underwriting agencies. These specialized distribution partners have not …

Swiss Re Corporate Solutions, Coalition Sign Multiyear Cyber Coverage Agreement

Swiss Re Corporate Solutions and Coalition, a provider of cyber insurance and security, have signed a multiyear agreement to provide broad cyber insurance and technology errors & omissions insurance to small and midsize organizations throughout the U.S. and Canada. Financial …

Former Michigan Agent Sentenced for Embezzling from Client; Must Repay $70K

A Michigan former insurance agent charged with embezzling from an elderly client has been sentenced to 36 months’ probation – with six months under house arrest – and ordered to pay restitution, state officials announced. Michigan Attorney General Dana Nessel …

Tesla Drives Under Semitrailer in Detroit; Feds to Investigate Crash

The U.S. government’s highway safety agency is sending a team to Detroit to investigate a crash involving a Tesla that drove beneath a semitrailer. The National Highway Traffic Safety Administration said that a special crash investigation team would go to …

2.3% Rate Hike for Louisiana Citizens Property Insurance Approved

Louisiana’s property insurer of last resort will raise personal property insurance rates by 2.3% this year, the state insurance department said. The increase is in line with current inflation rates and evidences stability and appropriate rates in Louisiana’s residential insurance …

Britain Targets Big 4 Auditors, Company Directors With Reform Proposals

Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors would have to repay their bonuses if the company went …

Analysis: SEC’s Crackdown on Climate Risk Disclosure Easier Said Than Done

With Democrats at the helm, the U.S. securities regulator is pledging to crack down on companies and funds that mislead investors over climate change risks, but that may be easier said than done, more than a dozen attorneys and former …

Cannabis Broker Spotlight: Tobin with Bolton & Co. Works to ‘Become a Master Student’

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for …

Next Insurance Targets Businesses That Sell and Buy on Amazon

In partnership with Amazon, digital small business insurer Next Insurance is offering insurance to businesses that are buyers or sellers on the popular Amazon e-commerce site. The insurer is targeting members of Amazon Business Prime that use Amazon as their …