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December 11, 2020
 
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National

 

Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market

LONDON - A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that...
 

Free Shots, Cash Bonus, Firing. Employers Weigh How to Get Employees Vaccinated

U.S. workers could soon face choices such as free COVID-19 shots and a cash bonus if all get immunized, or those unwilling to be...
 

FDA Expected to Quickly Approve Pfizer's COVID Vaccine

The U.S. Food and Drug Administration said on Friday it was working rapidly to issue an emergency use authorization for Pfizer Inc's...
 

New Capital Entering Market Unlikely to Quickly Soften Rates: Vantage Risk CEO

Greg Hendrick, the CEO and co-founder of the new reinsurance and insurance company Vantage Risk isn't too concerned about the new capital...
 

Zurich and Farmers Agree to Buy MetLife's U.S. P/C Business for $3.94 Billion

Zurich Insurance and Farmers Exchanges have agreed to buy MetLife's U.S. property and casualty business for $3.94 billion, the insurers...
 

COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best

U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty,...
 

Next Insurance Buys Data Firm Juniper Labs to Enhance Workers' Compensation Offering

Digital small business insurer Next Insurance has closed its first acquisition, buying Juniper Labs, a Denver-based provider of data and...
 

CRC Group Appoints Koehn and Tredway as Co-Presidents of Brokerage Division

Nationwide wholesale insurance broker CRC Group reported that Garrett Koehn and Brent Tredway will be appointed co-presidents of the...
 

Frequency of Cyber Events Targeting Businesses Increasing: Travelers

Nearly one in four respondents (22%) out of more than 1,200 business leaders surveyed in 2020 Travelers' Cyber Risk Index said their firm...
 

The Climate Factor: Why 100 Years of Data Is Not Enough for Cat Models

Catastrophe models are designed to help risk managers in different industries understand the probability of occurrence...
 
More National News »
 
 

East

 

New York Auto Insurance Fraud Ring Busted Following Two-Year Investigation

An enterprise insurance fraud scheme operating in lower Westchester and the Bronx has been taken down following a nearly two-year long...
 

DOXA Establishes Strategic Partnership with Massachusetts' Century Equity Partners

DOXA Insurance Holdings, an acquirer of specialty niche-focused insurance distribution companies, has established a strategic...
 

MAPFRE Insurance Hires Jensen as Northeast Senior VP of Business Development

MAPFRE Insurance has hired Keith Jensen as senior vice president of Business Development for the company's Northeast Region. Jensen, who...
 
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Midwest

 

Outlooks Revised to Negative for Members of Chicago's ISMIE Mutual Group

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term...
 

$76K Water Pollution Fine Against Iowa Cattle Feedlot Upheld

An administrative judge has approved a $76,000 fine against an Iowa cattle feedlot for violating the Clean Water Act by discharging...
 

Hundreds of Firefighters Chicago Battle Huge Auto Warehouse Fire

Hundreds of firefighters battled a fire on Dec. 10 in Chicago's West Side that engulfed an auto parts warehouse. Crews were called to...
 

Missouri Construction Company to Pay $38K to Settle Pregnancy Discrimination Suit

A St. Louis, Mo.-based construction company that revoked an applicant's job offer after learning she was pregnant will settle a federal...
 
More Midwest News »
 
 
 
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Business Income Insurance Demystified
 
Business income coverage is arguably one of the most important coverages your commercial clients should have. Get THE book on the subject.
 
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Southeast

 

Best Downgrades Ratings of Tower Hill Prime Insurance of Florida

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating...
 

1 Worker Killed, 3 Injured by West Virginia Chemical Plant Blast

An explosion and fire at a West Virginia chemical plant that shook surrounding homes killed a plant worker and injured three other...
 

Students Seek Refund of Tuition, Fees from Georgia's University System Amid Pandemic

Students who took online classes at the University of Georgia and the Georgia Institute of Technology due to the pandemic are now seeking...
 
More Southeast News »
 
 

South Central

 

Oklahoma's CompSource Mutual Insurance Assigned 'A' Rating by AM Best

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a" to CompSource Mutual...
 

Texas' Marine Underwriters of America Acquired by DOXA Insurance Holdings

DOXA Insurance Holdings LLC (DOXA) has acquired Conroe, Texas-based Marine Underwriters of America (MUA), a niche agency serving the...
 

Oklahoma Seeking to Make J&J Pay $9.3B to End Opioid Crisis in State

Oklahoma has asked the state Supreme Court to order Johnson & Johnson to pay more than $9.3 billion to cover the entire anticipated cost...
 
More South Central News »
 
 

West

 

Family of Pilot Killed Fighting California Wildfire Sues Aircraft Companies

The family of a veteran helicopter pilot who died when his aircraft crashed as he was dropping water over a California wildfire filed...
 

Woman Abused by Washington Band Teacher Settles for $2M

A school district in Washington state has agreed to a $2 million settlement after a woman sued over sexual abuse by a band teacher 30...
 

Hearing on California Export List Covered Record Number of Items

A dozen doesn't sound like a lot, but it may be a record in the world of the California Export List. More items were proposed for the...
 

Burnham Benefits in California Acquired by BRP Group

Irvine, Calif.-based Burnham Benefits Insurance Services Inc., Burnham Gibson Wealth Advisors, Inc., and Burnham Risk and Insurance...
 
More West News »
 
 

International

 

Record Return of Merger Activity Leads to Massive Growth in M&A Insurance Market

LONDON - A record rebound in merger activity this year and a rise in litigation has brought with it an upsurge in insurance policies that...
 

New Capital Entering Market Unlikely to Quickly Soften Rates: Vantage Risk CEO

Greg Hendrick, the CEO and co-founder of the new reinsurance and insurance company Vantage Risk isn't too concerned about the new capital...
 

No-Deal Brexit Grows More Likely as UK-EU Trade Talks Remain Deadlocked

Britain is likely to complete its journey out of the European Union in three weeks without a trade deal, British Prime Minister Boris...
 

Cyber Attack on EU Drug Regulator Has Not Disrupted Work on COVID-19 Vaccines

BRUSSELS - The head of the European Union drug regulator said on Thursday the agency's work assessing COVID-19 vaccines had not been...
 

Global Banks Battle COVID-19 Crime Wave

LONDON -- Fraud risk analyst Rajendran Raj was used to the odd out-of-hours alert from authorities, but a call one Saturday in March...
 

UK Insurtech Startup battleface Raises $12M in Funding from U.S. Venture Capital Firm

UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, announced a $12-million Series A...
 

Chubb Launches Digital Team for Continental Europe and UK & Ireland

Chubb has announced the creation of a new digital team for Continental Europe (CE) and the United Kingdom & Ireland (UK&I). The team has...
 
More International News »
 
 
 
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Understanding Business Income
 
Business income coverage is arguably one of the most important coverages your commercial clients should have. Get THE book on the subject.
 
Get the Book
 
Insurance Journal's Academy of Insurance
 
 
 
 

Research and Webinars

 
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Seismic Changes Ahead for D&O Insurance Segment

AM Best expects that the Directors and Officers (D&O) segment will soon undergo radical changes based on an examination of...
 
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Three Ways to Thrive as an Insurance Agent in a Hard Market

The hard market is here and shows no signs of slowing down. While this period of the insurance cycle is often known as being the...
 
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How the Best Agencies Stand Out

Independent agencies today face an increasingly commoditized market, with new competitors constantly on the rise, and technology...
 
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Your Guide to Insuring High Net Worth Individuals

High net worth individuals and their families --- those with liquid assets of more than $1 million -- have an extensive variety...
 
More research and webinars »
 
 

Insurance Journal TV

 
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ICS20 Soundbite: Capacity, Vaping Among Issues in Cannabis Industry Going Forward

Norman Ives, a wholesale insurance broker at Worldwide Facilities LLC specializing in custom...
 
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EP. 2: Forget the Stars, Insurers are Shooting for the Cloud

Recent research shows that more insurers are taking advantage of cloud technology for data...
 
Watch more videos at InsuranceJournal.tv »
 
 

Reader Comments

 

30 Major League Baseball Teams Sue insurers Over Lost Revenue Due to Coronavirus

Posted: Mon Dec 7 -- I don't think the broad public understands the damage that will occur to our economy and way of life if courts determine that business... CL PM
 

Justice Department Charges Facebook With Hiring Bias Against U.S. Workers

Posted: Fri Dec 4 -- This is not a new story, been around for years, but it is disturbing how major companies run the risk in their hiring practices to save a... Mr. Integrity
 

U.S. Employers Have Right to Mandate COVID-19 Vaccine. But Will They?

Posted: Fri Dec 4 -- I wonder if the employers could be held liable. We already know that the vaccine manufacturers have no liability, and they're the ones with... Carrier Guy
 

Workers With Second Jobs May Be Factor in Nursing Home COVID Risk: Study

Posted: Thu Dec 10 -- Two jobs is necessary when they pay $15 or less to take care of our elderly. Caldude
 

Former Fidelity Investments' Employee Claims Discriminatory, Hostile Workplace

Posted: Wed Dec 9 -- Why do these unproven allegations by one person deserve my attention? Nearly EVERY company has strict policies against the behavior she... Craig Winston Cornell
 
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