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News – Insurance Journal

UK Accounting Regulator Urged to Slap Larger Fines on ‘Big Four’
Misdeeds by the world’s “Big Four” accounting firms should be punished with much bigger fines, Britain’s accounting watchdog was advised in a report released on Tuesday. “Fines greater than those that have heretofore been imposed may be appropriate in really …

POSTED NOVEMBER 22, 2017 8:22 AM
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling continues to improve, weather stations more …

POSTED NOVEMBER 22, 2017 6:00 AM
Why Employees Cheat at Work
It can happen in the branch office or the boardroom. Volkswagen did it to pass emissions tests. Wells-Fargo did it to squeeze more profits from their customers. Some school districts have it done it to boost their standardized test scores. …

POSTED NOVEMBER 22, 2017 6:00 AM
Family of 4 Indicted for $550K Insurance Fraud Scheme in West Virginia
A man, his ex-wife and two sons are accused of burning down two West Virginia homes and pocketing over $550,000 in insurance claims. The Charleston Gazette-Mail reports 66-year-old Windel Lester, his ex-wife, 41-year-old Georgetta Lester, and his sons, 40-year-old Gregory …

POSTED NOVEMBER 22, 2017 5:58 AM
CAMICO Simplifies Professional Liability Application for Small Accountant Firms
CAMICO, a nationwide CPA-directed program of insurance and risk management for the accounting profession, has introduced a new insurance application for smaller CPA firms. The online, interactive application guides users through a three-step process for accountants professional liability (APL) insurance. …

POSTED NOVEMBER 22, 2017 5:51 AM
Florida Nursing Home to Congress: Patient Deaths After Hurricane Irma Not Staff’s Fault
A Florida nursing home under investigation for the deaths of 13 patients after Hurricane Irma says in a letter to Congress that staff members did everything possible but couldn’t overcome a lack of power to the central air conditioner. In …

POSTED NOVEMBER 22, 2017 5:45 AM
Two Injured, Buildings Damaged by Tornadoes in Kentucky
The National Weather Service says two people were hurt in two moderate tornados in Kentucky. The weather service says both tornados touched down Saturday and were rated EF-1. The first happened shortly before 3:30 p.m. CST in Beaver Dam, Ohio …

POSTED NOVEMBER 22, 2017 5:19 AM
Best Agencies to Work For Southeast: Jones Insurance Agency – Bronze
Employees of Jones Insurance Agency in Garner, N.C., understand they aren’t just selling an insurance policy, they are carrying on a mission put in place when the company was founded in 1956. Jerry Jones, the company’s current CEO and chairman, …

POSTED NOVEMBER 22, 2017 5:16 AM
California-based Insurance Law Firm Sedgwick Closing Offices
Sedgwick LLP, a San Francisco, Calif.-based law firm that represented numerous insurance clients, is closing. The news of the closure came in the form of a letter sent out to this week making it known that Sedgwick will be closing …

POSTED NOVEMBER 21, 2017 7:48 PM
Gardner, Berger Appointed to Louisiana Citizens Property Insurance Commission
Louisiana Gov. John Bel Edwards has appointed Susan Denise Gardner and Eric S. Berger to serve on the Louisiana Citizens Property Insurance Commission. Gardner, of Clinton, is a certified financial examiner and market conduct manager, and the former chief deputy …

POSTED NOVEMBER 21, 2017 5:53 PM

IBR - Commercial lines News

Easterly Partners Group partners with White Mountains Insurance
Asset management company Easterly Partners Group has partnered with White Mountains Insurance Group, offering balance sheet for strategic acquisitions and development of affiliates.

Barbican establishes US wholesale excess & surplus lines MGA
Barbican Insurance Group has launched Barbican Specialty US, a new MGA offering wholesale excess & surplus (E&S) property insurance solutions for small-to-medium-sized commercial operations along the southeastern coast of the US.

POSTED NOVEMBER 17, 2017 1:22 PM
Alan & Thomas buys Commercial and General Insurance Services
Alan & Thomas Insurance Group has acquired Ferndown-based Commercial and General Insurance Services for an undisclosed amount.

POSTED NOVEMBER 14, 2017 9:08 AM
Global Risk Partners buys majority stake in Alan & Thomas Insurance Group
Global Risk Partners (GRP), the specialist investment vehicle for brokers and MGAs, has acquired majority stake in Alan & Thomas Insurance Group.

POSTED NOVEMBER 03, 2017 10:01 AM
THG acquires Delaware-based CNC Insurance Associates
Property and casualty insurance provider, The Hilb Group (THG) has acquired Delaware-based CNC Insurance Associates for undisclosed sum.

POSTED OCTOBER 17, 2017 11:00 PM
Bar Harbor Bankshares to divest McCrillis & Eldredge Insurance
Bar Harbor Bankshares has signed a definitive agreement with Cross Insurance to sell their insurance subsidiary, McCrillis & Eldredge Insurance, a family owned and operated company headquartered in Bangor, Maine.

POSTED OCTOBER 12, 2017 1:18 PM
MS&AD to acquire 15% stake in ReAssure for £800m
MS&AD Insurance Group Holdings of Japan has agreed to acquire an initial 5% stake in ReAssure, a UK closed life book consolidator of Swiss Re Life Capital, for £175m as part of its £800m investment for acquiring 15% shareholding in ReAssure.

POSTED OCTOBER 11, 2017 7:42 AM
Everest Re obtains regulatory approval for Irish subsidiary
The Central Bank of Ireland has granted authorization to Dublin-based subsidiary of Everest Re Group to operate as an authorized non-life insurer in Ireland.

POSTED OCTOBER 04, 2017 8:00 AM
Sompo International launches global insurance platform
Sompo International Holdings (SIH) has launched a global insurance platform and a global clearance system (GCS) to provide a range of products to customers to manage their risks.

POSTED OCTOBER 02, 2017 11:00 PM
Expense Defense, by Well Insurance, introduces new insurance product
Expense Defense, by Well Insurance, has collaborated with Lloyd's of London to introduce a new insurance product for Amazon businesses.


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