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February 10, 2021
 
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National

 

Insurers Overwhelmed by Demand for D&O Coverage for Blank Check Companies

The SPAC boom is overwhelming a key player in the creation of a blank-check companies: insurers. Firms selling directors-and-officers...
 

Federal Judge Sides with Chubb in Denial of Target's Data Breach Bank Claims

Target Corp. has been denied its $138 million insurance claim against ACE (now Chubb) Insurance companies stemming from a 2013 data...
 

Climate, AI, Privacy, Racial Bias Among State Insurance Regulators' 2021 Priorities

The country's insurance regulators are vowing to prioritize the monitoring of the use of consumer and non-consumer data by companies, the...
 

Ambac Financial Launches Specialty Insurance Group Everspan

Financial holding company Ambac Financial Group has launched Everspan Group, capitalized with more than $100 million, to focus on writing...
 

Some Baby Foods Found to Contain High Levels of Toxic Heavy Metals

U.S. congressional investigators found "dangerous levels of toxic heavy metals" in certain baby foods that could cause neurological...
 

CFC Enhances E&O Policy for Design, Construction Contractors

CFC has upgraded its errors and omissions policy for US-based design and construction contractors to include costs for steps taken by the...
 

Professional Liability Underwriters Feeling Pressure From COVID: AM Best

The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many...
 

What We're Doing to Attract Talent to the Insurance Industry: AM Best Rating Services CEO

Ten years ago, I started asking myself a question: What have you done to attract talent to the insurance industry? "It's...
 
More National News »
 
 
 
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East

 

Firefighters Battle Blaze, Partial Building Collapse in Pittsburgh

Fire and a partial collapse has demolished at least part of a multistory building on Pittsburgh's South Side built at least 141 years...
 

Mother of Virginia Police Informant Seeks $13M in Lawsuit

The mother of a dead Virginia police informant is alleging in a pair of lawsuits that authorities are responsible for her son's fatal...
 

Boston Hospital Valet Shot in Eye Sues His Employer

A valet at a Boston hospital who was shot in the eye by police as officers confronted a man armed with what they thought was a real gun...
 
More East News »
 
 
 
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Midwest

 

Federal Judge Sides with Chubb in Denial of Target's Data Breach Bank Claims

Target Corp. has been denied its $138 million insurance claim against ACE (now Chubb) Insurance companies stemming from a 2013 data...
 

McGowan Joins Resilience from Beazley as VP, Cyber Underwriter in Chicago

Resilience, which provides insurance coverage and patented cybersecurity tools to protect mid-market companies, has added Kevin McGowan...
 

With Spike in Traffic Deaths, Minnesota Ramps Up Speed Enforcement

Minnesota transportation and public safety officials have launched a traffic enforcement crackdown and awareness campaign amid a spike in...
 

South Dakota Judge Rejects Amendment Legalizing Recreational Pot

A South Dakota judge on Feb. 8 struck down a voter-approved constitutional amendment that legalized recreational marijuana after Gov....
 
More Midwest News »
 
 
 
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Southeast

 

Hacker Breaches Florida Treatment Plant Software, Tries to Taint Water

A hacker gained unauthorized entry into a remote access software system shared by workers at a Florida city's water treatment plant in an...
 

Investigators Focus on Conveyor Belt in Georgia Poultry Plant Deaths

Problems with the operation of a conveyer belt system that transported chicken for freezing appear to be the cause of a liquid nitrogen...
 

Arthur J. Gallagher & Co. Acquires Air-Sur of Florida

Arthur J. Gallagher & Co. has acquired Ormond Beach, Fla.-based Air-Sur, Inc. Terms of the transaction were not disclosed. Founded in...
 

ShoreOne Rolls Out Combined Homeowners, Flood Policy in South Carolina

Massachusetts-based managing general agent ShoreOne created a new coverage for coastal homeowners to address inadequate flood coverage....
 
More Southeast News »
 
 
 
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South Central

 

Texas Bill Would Mandate Business Interruption Cover for Pandemic Losses

A bill filed in Texas would require business interruption insurance policies to cover losses from a pandemic. Under SB 249, filed by Sen....
 

Texas Rail Services Firm Faces $419K Fine After Oklahoma Workers' Deaths

A Texas-based rail products and services company has been cited by federal workplace safety officials for violations that resulted in the...
 

Barta Reappointed as Texas Injured Employee Public Counsel

Jessica Barta has been reappointed as Texas' Injured Employee Public Counsel, a role in which she has served since October 2014. Her...
 
More South Central News »
 
 
 
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West

 

Environmental Settlement of $121K Reached with Washington Chemical Company

The U.S. Environmental Protection Agency has reached a settlement with Emerald Kalama Chemical after inspectors say they found hazardous...
 

Intel Suing Oregon Engineer Who Joined Microsoft Over Trade Secrets

Intel is suing a former Oregon employee, alleging he took trade secrets when he left for Microsoft and used the information to gain an...
 

California Surplus Lines Weathered Pandemic, Wildfires, Civil Unrest

In a year marred by a pandemic, massive Western U.S. wildfires, civil unrest, and a contentious election, California's surplus lines...
 

Report on California's Formulary Shows Pharmaceutical Costs Declining

The Workers' Compensation Insurance Rating Bureau of California has updated the cost impact evaluation of the Medical Treatment...
 
More West News »
 
 
 
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International

 

UK Insurers Not Likely to See Cuts in Capital Requirements After Brexit: Bank of England

The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more...
 

Fossil Fuel Pollution Kills 8.7 Million People Annually Across the Globe: Research

Efforts to slow the process of global warming focus on the future harms of continuing to burn fossil fuel, but new research released...
 

Construction of Controversial UK Coal Mine Now Under Review After Climate Backlash

Construction of a coal mine that threatened UK Prime Minister Boris Johnson's claim to be a world leader in the fight against climate...
 

AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO

Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million...
 

Facebook Faces 2nd UK Class Action Lawsuit over Data Harvesting Scandal

Facebook is facing a second London High Court class action over allegations it failed to protect the personal details of about one...
 

Brazilians Bring Lawsuit Against Norsk Hydro over Alleged Pollution

Some 40,000 Brazilians are bringing a group-action lawsuit in the Netherlands against Norwegian aluminum producer Norsk Hydro over...
 

UK Broker Specialist Risk Group Buys Trade Credit Specialist, The Channel Partnership

Specialist Risk Group (SRG), a London-based specialist insurance broker, has announced the acquisition of a UK trade credit specialist,...
 

Chubb Global Markets Creates New Energy Underwriting Team

Chubb announced the creation of a new energy team in Chubb Global Markets (CGM) that will underwrite and serve as a center of excellence...
 
More International News »
 
 
 
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Research and Webinars

 
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How to Grow Your Agency with Digital Marketing

Join Us Wednesday, Feb. 17th, 10 am PT, 1pm ET In today's marketplace, increasing your number of clients, policies sold, and...
 
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Broker Success Checklist

P&C brokers, are you helping your clients navigate their critical areas of risk? Businesses choose to work with brokers that...
 
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The SEO Guidebook for Insurance Agents

Have you thought about how your insurance agency can be found online? Consumers have been turning to the internet to shop for...
 
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Getting the Most Out of Your Agency Data

To succeed and grow in a digital-first world, insurance agencies need to know and use the data in their technology. Agencies...
 
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 »
 
 

New Discussions in the Forums

 

How can a new agent obtain appointments?

Posted: Wed Feb 10 -- If you're just starting your transition or comparing aggregators, word of advice, review the contracts. "You own the book" has multiple... jdwebb
 
Go To Forums »
 
 

Reader Comments

 

Florida Condo Association Sues Resident for Feeding Stray Cat

Posted: Wed Feb 3 -- Wow ! There has to be at least ten different ways this could have been handled that would be condo friendly, animal friendly, elderly... Questionning
 

SEC Sues Giuliani Associates Parnas, Correia Alleging Fraud Over Insurance Startup

Posted: Thu Feb 4 -- Sorched earth reporting by Bloomberg. To bad IJ amplified the misinformation associating the former mayor to the essence of the story. John
 

Workers Refusing Unsafe Work May Be Able to Get Unemployment Insurance

Posted: Wed Feb 3 -- I travel the country for work and generally need to be on the ground to do my job. After a 3 day, 3 state mid-west trip where it was a... Safetyguy
 

New York Undercounted Nursing Home Deaths by Thousands, Attorney General Says

Posted: Wed Feb 3 -- Common core math strikes again....or was it the China virus? Jack
 

Climate Group Urges South Carolina Towns to Tackle Climate Change

Posted: Thu Feb 4 -- Sitting right here in Charleston myself. Meanwhile Charleston County -FEMA moves beach front homes from VE to AE and even some to X zones... Jack
 
Go To Popular Comments »
 
 
 
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