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Business Insurance

Obalon cancels offering after allegation on accounting practices


POSTED JANUARY 23, 2018 11:29 AM
Cloud-computing failure could spur up to $19 billion in losses: Lloyd’s


POSTED JANUARY 23, 2018 11:18 AM
Brown & Brown revenue up in fourth quarter


POSTED JANUARY 23, 2018 11:06 AM
Wildfires, tax reform weigh on Travelers’ quarterly profit


POSTED JANUARY 23, 2018 10:54 AM
Removal of MetLife’s SIFI designation ‘credit negative’: Moody’s
The end of MetLife’s “too big to fail” designation is a negative credit rating development, according to a report by Moody’s Investors Service, as it reduces the likelihood of the Federal Reserve supervising the insurer.

POSTED JANUARY 23, 2018 10:12 AM
Los Angeles police policing its own on comp fraud
The Los Angeles Police Department has arrested two of its own in the past two weeks for suspected workers compensation fraud, the Los Angeles Daily News reported.

POSTED JANUARY 23, 2018 9:05 AM
Supreme Court to hear SEC administrative law judge case
The high court’s decision could have a significant effect on the constitutionality of rulings by the administrative law judges used by the U.S. Securities and Exchange Commission and other agencies.

POSTED JANUARY 23, 2018 6:14 AM
Factories closing amid lack of supplies, inflation
Factories across Venezuela have been forced to shut down amid lack of supplies and raw materials, skyrocketing inflation and a rising wave of violent looting.

POSTED JANUARY 23, 2018 4:50 AM
QBE Insurance records $1.2 billion loss
Australia-based QBE Insurance Group Ltd. recorded a loss of about $1.2 billion in 2017 due to payouts related to wildfires in California, storms in Australia and hurricane Maria.

POSTED JANUARY 23, 2018 4:48 AM
World Bank launches $1-billion cat bond
The World Bank Group has launched a $1-billion catastrophe bond to provide earthquake cover to the member nations of the Pacific Alliance trade bloc in Latin America.

POSTED JANUARY 23, 2018 4:45 AM

News – Insurance Journal

Professional Liability Insurance Brokerage, Gemini Risk, Launched in Michigan
Experienced lawyers and insurance professionals David Kramer and Theodore Nittis have launched Gemini Risk Partners as an independent professional liability insurance brokerage in Bloomfield Hills, Michigan. The firm will focus on serving law firms, as it did when it was …

POSTED JANUARY 23, 2018 5:26 PM
Insurance Education Scholarships Available for Missouri Students
The Missouri Department of Insurance announced that high school seniors and college students, who are Missouri residents, are eligible to apply for Missouri Insurance Education Foundation (MIEF) scholarships. The deadline is March 31. Four, $1,500 scholarships are awarded to graduating …

POSTED JANUARY 23, 2018 5:19 PM
Tata Group Predicts Significant Organic Growth Opportunities in Insurance
The Tata Group sees potential for significant growth in financial services without relying on acquisitions, as India’s largest conglomerate looks to sharpen its focus on about half a dozen businesses. “Both our insurance business and non-banking finance company have got …

POSTED JANUARY 23, 2018 4:29 PM
Travelers Manages Q4 Profit Despite Wildfires, Tax Hit
Property/casualty insurance giant Travelers Companies Inc. reported net income of $551 million for the quarter ended December 31, 2017, a 42 percent drop compared to $943 million in the prior year quarter. The drop was attributable to claims from California’s …

POSTED JANUARY 23, 2018 4:23 PM
Idaho School Trying to Recover Data Weeks After Ransom-Seeking Cyberattack
Nearly six weeks after being hit by a massive ransomware cyberattack, the Jerome School District is still working to recover. On Dec. 11, school district officials found out much of its data was encrypted. Each affected file included a message …

POSTED JANUARY 23, 2018 3:39 PM
California Commissioner Wants Insurers to Pass Tax Savings to Policyholders
California Insurance Commissioner Dave Jones wants insurers in his state to pass along savings from taxes expected to be generated by the new tax bill passed in Congress recently. “The recent revision to the Federal Tax Schedule for 2018 reduced …

POSTED JANUARY 23, 2018 3:28 PM
TigerRisk Names Beckers, from Aon, as Partner and Head of EMEA
TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced that Marc Beckers has been named partner and head of EMEA. Beckers, most recently head of Aon Benfield ReSolutions EMEA, is one of Europe’s foremost experts on non-traditional risk-transfer structures and …

POSTED JANUARY 23, 2018 2:26 PM
Facebook Responds to EU’s New Data Law with Changes to Privacy Controls
Facebook will make it easier for its more than 2 billion users to manage their own data in response to a tough new European Union law that comes into force in May, the social network’s Chief Operating Officer Sheryl Sandberg …

POSTED JANUARY 23, 2018 1:46 PM
Liberty Mutual Sells Off Life Insurance Unit, Realigns U.S., Global P/C Business
Liberty Mutual is getting out of the life insurance business, and the insurer will reorganize in order to better focus on its remaining P/C businesses. The Boston-based global insurer said it will sell its life insurance arm – Liberty Life …

POSTED JANUARY 23, 2018 1:42 PM
Khan Promoted to CEO, President at ThinkRisk and CorPro
Ryan Specialty Group (RSG) announced the promotion of Reza Khan to chief executive officer and president of ThinkRisk Underwriting Agency and CorPro Underwriting Managers. Reza previously served as executive vice president for both entities and has been with ThinkRisk since …

POSTED JANUARY 23, 2018 1:24 PM

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