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News – Insurance Journal
Fire Damages Popular Presidential Campaign Trail Restaurant in New Hampshire
A fire caused about $80,000 worth of damage on Wednesday to a New Hampshire restaurant that’s a popular campaign trail stop for candidates in the first-in-the-nation presidential primary state. WMUR-TV reports fire crews responded to the Puritan Backroom shortly after …
POSTED MARCH 30, 2020 1:20 PM |
New York City Subway Driver Killed in Fire Being Investigated as Crime
A New York City subway driver was killed and several other people were injured early Friday in a fire on a train that is being investigated as a crime, officials said. Fires were reported at three other stations nearby at …
POSTED MARCH 30, 2020 1:01 PM |
Insured Losses from Europe’s Storm Victoria (aka Dennis) Estimated at €286M: PERILS
The initial insured property loss estimate for Europe’s extratropical cyclone “Victoria,” also known as “Dennis,” is an estimated €286 million (US$318.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The event affected the British …
POSTED MARCH 30, 2020 12:15 PM |
Allianz Australia Taps Laybutt from Deloitte as Chief Risk Officer, Succeeding Callahan
Allianz Australia announced the appointment of Tara Laybutt as Allianz Australia’s chief risk officer, effective May 11, 2020. Laybutt has extensive experience in guiding the risk functions of large, financial services companies through complex and challenging periods, the company said …
POSTED MARCH 30, 2020 10:14 AM |
South Korean Insurers Hit Hard by Evaporating Investment Returns
Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month. Hanwha Life Insurance Co. has …
POSTED MARCH 30, 2020 9:35 AM |
Sirius International Launches Formal Process to Find a Buyer
Sirius International Insurance Group, Ltd. (Sirius Group) announced it has launched a formal process to sell the company after a strategic review. The company said it has approved the launch of a sales process, after reviewing multiple expressions of interest …
POSTED MARCH 30, 2020 8:34 AM |
How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London
Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tools of …
POSTED MARCH 30, 2020 6:51 AM |
GM Settles Faulty Ignition Switch Cases for $120 Million
General Motors Co. has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths. The preliminary settlement was filed on Friday night with the …
POSTED MARCH 30, 2020 5:00 AM |
From Free Coverage to Medical Masks. P/C Insurers Deliver Some Good News.
While the property/casualty insurance industry is fighting attempts to force it to pay for the huge business income losses that it says most policies were never intended to cover, some individual insurers are finding small ways to assist the businesses …
POSTED MARCH 30, 2020 5:00 AM |
Washington State Asks Insurers to Extend Coverage to Delivery Drivers
Washington Insurance Commissioner Mike Kreidler is asking insurers doing business in the state to immediately extend automobile insurance coverage for personal delivery drivers to aid people temporarily assigned this duty during the COVID-19 pandemic. Kreidler said his office would expedite …
POSTED MARCH 27, 2020 7:23 PM |
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