News – Insurance Journal
|Evacuations Ordered for Hundreds of Residents in California, Oregon
Evacuation orders affecting hundreds of people were issued in California and Oregon as wildfires neared small towns, including one that’s a prime location for viewing the eclipse. About 600 residents were told to leave the tourist town of Sisters, Oregon, …
POSTED AUGUST 21, 2017 3:08 PM
|USGS Confirms Small Quake Hit Hawaii’s East Coast
A magnitude 4.1 earthquake hit off the coast of the Big Island of Hawaii, the U.S. Geological Survey’s Hawaii Volcano Observatory confirmed. The USGS reported that the earthquake struck at 8:35 p.m. Friday about 66 miles northeast of the town …
POSTED AUGUST 21, 2017 3:06 PM
|Driving Distraction, Eye Safety Concerns Cast Shadow on Eclipse Excitement
Sold out hotels, viewing parties and special media coverage will culminate today, when a total solar eclipse will be visible across the entire U.S. But along with the excitement comes safety concerns, according to various government agencies. The Federal Highway …
POSTED AUGUST 21, 2017 2:23 PM
|Woman Files Federal Lawsuit Over Delaware Pumpkin-Flinging Accident
A woman who was critically injured when an air cannon exploded during a Delaware pumpkin-launching competition has filed a federal lawsuit against event organizers and participants, state officials and Discovery Communications. Suzanne Dakessian claims in Wednesday’s lawsuit that she was …
POSTED AUGUST 21, 2017 1:35 PM
|Two Plead Guilty to $25M New Jersey Prescription Drug Scheme
Two men have pleaded guilty to defrauding New Jersey and health insurers out of $25 million by submitting claims for unneeded prescriptions. Matthew Tedesco and Robert Bessey pleaded guilty on Thursday to conspiracy to commit health care fraud. Authorities say …
POSTED AUGUST 21, 2017 1:31 PM
|Verisk to Acquire London-Based Complex Data Software Firm Sequel
U.S.-based data analytics firm Verisk Analytics Inc. has agreed to acquire London-based insurance and software specialist Sequel from private equity firm HgCapital and other Sequel shareholders. Sequel specializes in software that “creates instant, intuitive understanding of the most complex data,” …
POSTED AUGUST 21, 2017 1:14 PM
|New Jersey’s Menendez, Pallone Tout Flood Insurance Reform Legislation
Five years after Superstorm Sandy devastated towns along the New Jersey shore, Sen. Bob Menendez and Rep. Frank Pallone want changes made to federal flood insurance they said will fix a system that often failed beleaguered homeowners. Speaking Thursday on …
POSTED AUGUST 21, 2017 1:02 PM
|JLT Re Taps Bardon as Bermuda Partner, Working with Industry Loss Warranty Team
JLT Re, the London-based reinsurance broker and consultancy, has appointed Nicolas Bardon as a partner in JLT Re’s Bermuda operation reporting to Guy Hengesbaugh. Bardon will work closely with Gary Reynolds and others on the industry loss warranty team in …
POSTED AUGUST 21, 2017 11:25 AM
|Indian IPOs Headed for Record Year as Insurers Seek to Raise Funds
Indian initial public offerings are headed for a record year, as a rush of insurers seek to ride a rally in the local market and tap increasing investor demand for financial assets. At least four Indian insurers are aiming to …
POSTED AUGUST 21, 2017 11:16 AM
|Maxum’s Lucas Joins Everest Re to Head U.S. Casualty Facultative Programs
Darwin Lucas has joined Everest Reinsurance Co. as vice president and head of U.S. Casualty Programs for all general casualty and professional liability lines of coverage within the Facultative Reinsurance division. He will be managing the division’s program portfolio and …
POSTED AUGUST 21, 2017 11:00 AM
IBR - Commercial lines News
|Allianz, LV= agree to create UK's third largest personal insurer
German insurance giant Allianz has agreed to create a joint venture (JV) with UK rival Liverpool Victoria Friendly Society (LV=) to create a personal insurer in Britain.
POSTED AUGUST 07, 2017 12:37 PM
|Travelers closes acquisition of Simply Business
The Travelers Companies closed the previously announced acquisition of Simply Business, a provider of small business insurance policies in the UK.
POSTED AUGUST 06, 2017 11:00 PM
|Aviva signs ten-year general insurance deal with HSBC
Aviva has signed a ten-year distribution agreement in the UK with HSBC, to offer a range of general insurance products in the country.
POSTED AUGUST 04, 2017 12:05 PM
|Genpact acquires OnSource
Genpact has acquired OnSource, a provider of an Inspection-as-a-Service (IaaS) product for property and casualty (P&C) insurance carriers and their customers.
POSTED AUGUST 01, 2017 11:00 PM
|Nexus to acquire trade credit insurer Equinox Global
Nexus Group, a specialty Managing General Agent (MGA), has acquired Lloyd’s coverholder Equinox Global and all its group companies for an undisclosed price.
POSTED JULY 18, 2017 6:45 AM
|Alliant purchases Boynton & Boynton Insurance Professionals
Alliant Insurance Services has acquired New Jersey-based Boynton & Boynton Insurance Professionals to expand its footprint within the Northeast Region.
POSTED JULY 13, 2017 1:24 PM
|Fairfax completes $4.9bn acquisition of Allied World Assurance
Canadian investment and insurance giant Fairfax Financial has completed $4.9bn acquisition of Swiss insurer Allied World Assurance.
POSTED JULY 07, 2017 7:19 AM
|Arch Capital completes acquisition of AIG United Guaranty Insurance
Arch Capital Group has closed its previously announced acquisition of AIG United Guaranty Insurance (Asia) from American International Group (AIG).
POSTED JULY 06, 2017 11:00 PM
|Chaucer acquires Australian Lloyd's managing general underwriting agency
Chaucer, which is The Hanover Insurance Group's international specialty insurance group, has acquired Sydney-based Lloyd's managing general underwriting agency (MGA), SLE Holdings.
POSTED JULY 05, 2017 6:38 AM
|Berkshire’s Columbia Insurance to invest $303m in Home Capital
Warren Buffett’s Berkshire Hathaway, through its subsidiary Columbia Insurance, has agreed to invest about C$400m ($302.8m) for a 38.39% stake in Home Capital Group.
POSTED JUNE 23, 2017 7:25 AM