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Swiss Re Corporate Solutions Names Rake as CEO Asia Pacific
Swiss Re Corporate Solutions has appointed Jonathan Rake as CEO Asia Pacific, based in Singapore. Rake will move from his current position as head South East Asia and assumes the new role on July 1, 2017. He succeeds Fred Kleiterp, …

POSTED MAY 25, 2017 10:49 AM
FM Global Promotes Kelly to VP Diversity & Int’l Human Resources
Commercial property insurer FM Global announced the promotion of Angela Kelly to vice president, diversity and international human resources. Kelly, a 23-year veteran of the company, will have overall responsibility for leading the company’s worldwide efforts to support workplace diversity …

POSTED MAY 25, 2017 10:36 AM
TMK Launches Visual Effects, Post Production Media Cover
Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover for companies specializing in online or offline editing and digital …

POSTED MAY 25, 2017 10:01 AM
Republican Health Bill Would Cut Deficit by $119 Billion, Add 23 Million Uninsured: CBO
A bill passed by U.S. House Republicans would cause 23 million people to lose healthcare coverage by 2026 while de-stabilizing health insurance markets in some states and making it hard for sick people to buy insurance, a budget watchdog agency said on Wednesday. …

POSTED MAY 25, 2017 5:00 AM
Farmers Balk as Trump Budget Caps Crop Insurance Subsidies
U.S. farm groups on Tuesday pushed back against President Donald Trump’s proposal to slash agriculture spending, viewing it as a fresh threat to a struggling farm economy. The White House on Monday proposed $46.54 billion in cuts to federal government …

POSTED MAY 25, 2017 5:00 AM
Automaker Tesla Hit by Union Charges of High Worker Injury Rate
A California-based workers advocacy group released a report on Wednesday saying that Tesla Inc. data showed its workers have been injured at a rate a third higher than the auto industry average. Worksafe made the analysis after being approached by …

POSTED MAY 25, 2017 5:00 AM
AXIS Adds Martin, Ross to Georgia-Based P&C Team
AXIS Capital Holdings Limited has announced the appointments of James Martin and Russ Madore, each as vice president, U.S. Programs, within AXIS Insurance’s Property and Casualty team. Martin and Madore will each be responsible for oversight of select AXIS Insurance …

POSTED MAY 25, 2017 4:24 AM
Damage Reported in North Carolina From Severe Storms That Spawned Tornado
Officials in a North Carolina county say a tornado has destroyed a fire department. The Fayetteville Observer reports Sampson County Emergency Management said the Autryville Fire Department was destroyed by a tornado on Tuesday. Reports indicate the roof of the …

POSTED MAY 25, 2017 4:00 AM
Family of ‘Voice’ Contestant Killed in Florida to Refile Suit Against Venue
An attorney for the family of singer Christina Grimmie says he will refile an amended wrongful death lawsuit against the promoter and venue where “The Voice” contestant was fatally shot. Attorney Brian Caplan said Tuesday that Grimmie’s family will file …

POSTED MAY 25, 2017 4:00 AM
Louisiana Disaster Declarations in Last 18 Months Involved Nearly 90% of Parishes
With hurricane season fast approaching, the Louisiana Department of Insurance is pointing out that in the last 18 months, nearly 90 percent of the state’s parishes have been included in major disaster declarations. The LDI is advising policyholders to take …

POSTED MAY 24, 2017 4:43 PM
A.M. Best: Outlook Stable for MGA Insurance in Dallas
A.M. Best has revised the long-term issuer credit rating (long-term ICR) outlook to stable from positive and affirmed the financial strength rating (FSR) of B++ (Good) and the long-term ICR of “bbb” of MGA Insurance Company Inc. (MGA), based in Dallas. The …

POSTED MAY 24, 2017 4:36 PM
Damage Assessment from 7 Oklahoma Tornados Ongoing
Meteorologists say seven tornados that occurred in northeast Oklahoma last week have received preliminary damage ratings. The Tulsa World reports tornados near Wagoner, Red Bird and Porter reached estimated wind speeds of up to 105 mph. The storms uprooted trees, …

POSTED MAY 24, 2017 4:32 PM
Iowa Agency, Two Rivers Insurance, to Repay Cities, Counties
State regulators say an Iowa insurance agency accused of a deceptive practice has agreed to repay more than $1.3 million to local governments. The Des Moines Register reports that Two Rivers Insurance Co., which is based in Burlington, was accused …

POSTED MAY 24, 2017 4:28 PM
Leaks Discovered in Dakota Access Pipeline System
The Dakota Access pipeline and a feeder line leaked more than 100 gallons of oil in North Dakota in separate incidents in March as crews prepared the disputed $3.8 billion pipeline for operation. Two barrels, or 84 gallons (320 liters), …

POSTED MAY 24, 2017 4:25 PM
ISMIE Mutual Insurance Leader, Harold Jensen, Passes
 Chicago-based medical professional liability insurer, ISMIE Mutual, is mourning the the loss of its late chairman, Harold L. Jensen, M.D. Jensen died unexpectedly on Monday, May 22, 2017. A strong and visionary leader, Dr. Jensen transformed ISMIE into a medical …

POSTED MAY 24, 2017 4:23 PM
Ironshore Raises Capacity for M&A Cover, Tax Consortium Launched
Ironshore International’s Mergers & Acquisitions and Tax Insurance unit has enhanced its consortium programs to meet client and broker demand for larger, streamlined limits. Ironshore will increase the capacity for its Mergers & Acquisitions Consortium to £100 million ($129.8 million), from …

POSTED MAY 24, 2017 4:18 PM
Mass. Court Says Suspended Public Employee Can Receive Workers’ Comp
The Massachusetts Supreme Judicial Court has ruled that an injured public employee is still eligible to receive workers’ compensation benefits after being suspended from employment. The court concluded that workers’ compensation benefits are not compensation as defined in the state’s …

POSTED MAY 24, 2017 2:47 PM
Insurance Groups Welcome Delay in Liability Insurance Law Restatement
Insurance groups breathed a sigh of relief this week after legal scholars delayed a vote on a controversial restatement of liability insurance law. As reported by Insurance Journal, the American Legal Institute (ALI) on Tuesday formally decided to postpone a …

POSTED MAY 24, 2017 2:01 PM
California’s Single-Payer Bill Comes with $400B Price Tag
A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said. Much of the cost would be offset by existing …

POSTED MAY 24, 2017 1:55 PM
Small Quake Jolts Southern Part of Hawaii’s Big Island
A magnitude 3.0 earthquake hit the island of Hawaii, the U.S. Geological Survey confirmed. The earthquake hit at 5:59 p.m. local time on Monday. Its epicenter was 12 miles (20 kilometers) north of Pahala, a town with a population of …

POSTED MAY 24, 2017 1:50 PM
Target to Pay $18.5 Million to Settle States’ Claims from 2013 Data Breach
Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The investigation — led by the Attorneys …

POSTED MAY 24, 2017 12:48 PM
Climate Change Research, Flood Mapping Funds Take Hit in Proposed Trump Budget
President Donald Trump’s first budget request to Congress would cut or eliminate a range of programs designed to reduce greenhouse gas emissions, as well those helping communities prepare for more intense flooding or hurricanes expected to result from climate change. …

POSTED MAY 24, 2017 12:41 PM
U.K. Security Services Warn of Imminent Terrorist Attack; U.S. Leaks Criticized
Soldiers are to patrol British landmarks and sporting events in their biggest homeland deployment in decades, as security services warned that another attack by terrorists who killed 22 people at a pop concert on Monday was imminent. Prime Minister Theresa …

POSTED MAY 24, 2017 12:24 PM
Rhode Island Insurance Agents Have New Coastal Insurance Market
Independent insurance agencies in Rhode Island have a new market for coastal homes – Spinnaker Insurance Company. Spinnaker’s New England distributor, Insurance Agency and Customer Service Company (IACSC) of New London, Conn., is offering selected agents appointments. Founded last October, …

POSTED MAY 24, 2017 11:54 AM
tKg Wholesale Brokerage Hires Wischnowsky as an Account Executive
tKg Wholesale Brokerage has hired Matt Wischnowsky as an account executive focused on professional liability. Wischnowsky brings more than ten years of experience to the position. Most recently, Wischnowsky served as the managing director of GT Pro, a division of …

POSTED MAY 24, 2017 10:52 AM
Former Vermont Homeowners Hope to Recover $4M After Evictions
A group of former homeowners from a Vermont lakeside neighborhood hopes to recover some of the nearly $4 million they lost after they were forced to vacate. The Burlington Free Press reports the Mallets Bay Homeowner’s Association says the 24 …

POSTED MAY 24, 2017 10:43 AM
Companies May Soon Be Required to Disclose Financial Impact of Climate Risk
Companies’ disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to …

POSTED MAY 24, 2017 10:15 AM
Cyber Security Expert Leonardo to Offer Anti-Ransomware Weapon
When a wave of ransom-requesting cyber attacks hit computers across the globe earlier this month, Leonardo SpA cyber-security experts had already warned clients that a larger-than-usual strike was about to hit. Now, the company is set to roll out a …

POSTED MAY 24, 2017 9:44 AM
Bermuda Can Withstand Trump’s U.S. Tax Plans, Says Premier Dunkley
Bermuda Premier Michael Dunkley said the nation will be able to attract businesses even as U.S. President Donald Trump plans to reduce tax rates to help keep companies onshore. “One of the things that I find very comforting about Bermuda …

POSTED MAY 24, 2017 9:20 AM
Swiss Re Corporate Solutions Taps Kleiterp as CEO EMEA, Replacing Buckle
Swiss Re Corporate Solutions has appointed Fred Kleiterp as CEO Europe, Middle East, Africa (EMEA), effective July 1, 2017. In this role, Kleiterp will be responsible for managing the strategy, development and performance of the company’s presence in the EMEA …

POSTED MAY 24, 2017 9:05 AM

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