July 2, 2020

Thu, 02 Jul 2020 13:37:27 +0000
Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer’s chief executive said in an interview. Allianz is among global insur...
Thu, 02 Jul 2020 12:54:04 +0000
Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as another pandemic, a global cyber attack or a solar …
Thu, 02 Jul 2020 10:12:47 +0000
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Sompo Global Risk Solutions (GRS) has formed a new team, Sompo GRS Europe, based in London to serve the European ma...
Thu, 02 Jul 2020 09:22:37 +0000
U.S. technology company TuSimple on Wednesday launched a self-driving freight network with UPS and Berkshire Hathaway Inc. supply chain unit McLane that it said should operate nationwide by 2024 and start running some driverless trucks routes by 2021. ...
Thu, 02 Jul 2020 08:57:45 +0000
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Ltd., announced the hiring of Anna Woolley as a senior underwriter in its International Construction team, effective immediately. In this role, Woolley will focus on writ...
Thu, 02 Jul 2020 08:29:56 +0000
Lemonade Inc., the online home insurance provider backed by SoftBank Group Corp., is set to raise $319 million in its U.S. initial public offering. The company will sell 11 million shares at $29 apiece, Lemonade said in a filing, confirming …
Thu, 02 Jul 2020 07:46:48 +0000
All North Carolinians living and working in nursing homes will soon receive a one-time coronavirus test, the state announced Tuesday. Mandy Cohen, the state’s top public health official, said the state’s effort to boost testing will be underway from Ju...
Thu, 02 Jul 2020 07:43:47 +0000
The Federal Aviation Administration and Boeing Co have completed certification test flights on the 737 MAX, a key milestone toward the plane’s return to service, the U.S. regulator said on Wednesday. The MAX has been grounded since March 2019 after …
Thu, 02 Jul 2020 07:39:39 +0000
Propel Insurance, a retail insurance agency and a portfolio company of Flexpoint Ford, has acquired HealthCare Services (HCS), a risk management and insurance consulting firm based in Knoxville, Tenn., that specializes in serving senior care organizati...
Thu, 02 Jul 2020 07:28:25 +0000
Two decades of financial disasters from Enron Inc.’s collapse in 2001 to Wirecard AG’s meltdown have left the Big Four accounting firms facing a major cultural problem that regulators may struggle to resolve. The 1.9 billion euros ($2.1 billion) missing …
Thu, 02 Jul 2020 07:23:26 +0000
Brightway Insurance, a nationwide personal lines insurance agency system, has enhanced its franchise model with an option to join with a $5,000 franchise fee and the right to open an additional location at no additional cost. Individuals that would like …
Thu, 02 Jul 2020 07:06:15 +0000
Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million), the firm representing the businesses has calculated. Loss adjustment firm Insurance Claims Africa ...
Thu, 02 Jul 2020 06:41:31 +0000
Novartis Pharmaceuticals Corp. agreed to pay $678 million to resolve a whistle-blower case accusing the company of paying kickbacks to thousands of doctors who prescribed its drugs and wooing them with lavish dinners and trips to Hooters, ending almost...
Thu, 02 Jul 2020 06:33:55 +0000
Online insurance marketplace Policygenius has made its first hire for its North Carolina headquarters. Erik Garr, who established Google Fiber’s operation in Durham, N.C, and was the director of strategy and operations at Google Cloud, will oversee pro...
Thu, 02 Jul 2020 05:17:57 +0000
USI Insurance Services (USI), headquartered in Valhalla, N.Y., has completed its acquisition of Associated Benefits & Risk Consulting (ABRC) from Associated Banc-Corp., based in Green Bay, Wisconsin ABRC is a multi-line insurance agency and Midwest-bas...
Wed, 01 Jul 2020 20:01:39 +0000
A fitness center near Yakima, Wash. is facing nearly $10,000 in fines for operating in violation of Gov. Jay Inslee’s Safe Start order. The Washington State Department of Labor & Industries cited company owner Bradshaw Development, Inc. this week after …
Wed, 01 Jul 2020 19:24:39 +0000
Los Angeles, Calif.-based SF Insuretech Inc., the parent company of Just Auto Insurance, on Wednesday announced a $5.7 million seed funding round. ManchesterStory led the round, with additional investments from CEO and Founder Robert Smithson, Crosscut...
Wed, 01 Jul 2020 17:52:04 +0000
California Insurance Commissioner Ricardo Lara on Wednesday announced the launched an “Invest in Our Diverse Communities” initiative to identify diverse woman-, veteran-, LGBTQ, Latinx, Asian Pacific Islander, Black, and Native American-owned investmen...
Wed, 01 Jul 2020 16:56:09 +0000
The mayor of Savannah said Tuesday he’s ordering people to wear masks inside retail shops, grocery stores and other public places – and those who refuse could face $500 fines. “Frankly and honestly, I do not believe that we have …
Wed, 01 Jul 2020 16:43:34 +0000
Dallas-based Hilltop Holdings Inc. and Align Financial Holdings LLC (Align) announced the completion of the sale of Hilltop’s wholly owned Texas-based subsidiary, National Lloyds Corp. (National Lloyds), to Align on June 30. The transaction, which was ...
Wed, 01 Jul 2020 16:43:16 +0000
Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter. The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01 per share. The …
Wed, 01 Jul 2020 16:42:54 +0000
Some residents of a western Wisconsin village hit hard by hours of torrential rain were evacuated from their homes as floodwater lapped at their doors and motorists had to be rescued from the roofs of their partially submerged vehicles. The …
Wed, 01 Jul 2020 16:42:34 +0000
The R Street Institute, a non-profit public policy research organization based in Washington, D.C., says the Louisiana Legislature’s passage of a bill aimed at lowering high auto insurance costs represents a positive direction for insurance markets in ...
Wed, 01 Jul 2020 16:23:41 +0000
Federal regulators have cited aircraft maker Textron Aviation for a December 2019 explosion that injured 15 workers at its Wichita, Kansas, manufacturing plant. U.S. Department of Labor’s Occupational Safety and Health Administration says Textron had a...
Wed, 01 Jul 2020 15:35:18 +0000
An insurer is not liable for injuries caused by a policyholder who shot a 15-year-old boy in the head because the policy excluded coverage for criminal acts, a split Georgia Court of Appeals panel decided. The 2-1 ruling by the …
Wed, 01 Jul 2020 15:13:52 +0000
Unions representing 65,000 Las Vegas-area casino workers accused some resort operators on Monday of putting employees at risk of illness and death during the coronavirus pandemic by skimping on safety measures like a requirement for mask-wearing. ‘They...
Wed, 01 Jul 2020 14:59:36 +0000
Two Washington state Native tribes sued a group of insurance providers they said have not covered claims for business losses resulting from the coronavirus. The Suquamish and Port Gamble S’Klallam tribes and their business arms filed separate lawsuits ...
Wed, 01 Jul 2020 14:57:45 +0000
A wind-driven wildfire destroyed homes and forced evacuations as it tore through a rural Southern California desert town near the Salton Sea, authorities said. The fire erupted Sunday evening in Niland, a small and poor agricultural community about 100...
Wed, 01 Jul 2020 14:28:32 +0000
Banks and insurers in Britain must implement by the end of 2021 plans they have drawn up to deal with risks to their businesses from climate change, the Bank of England (BoE) said on Wednesday. The BoE previously told firms …
Wed, 01 Jul 2020 14:13:00 +0000
Firefighters were trying to determine what caused an asphalt tank fire early Tuesday that shook a neighborhood of homes and businesses and forced the evacuation of at least 30 families. Neighbors of Blueknight Energy Partners said they were awakened by …