Insurance
Universal Predicts $1B in Losses from Ian; HCI’s Wind Exposure Less than Irma’s
The parent company of Universal Property & Casualty Co., the second-largest property insurer in Florida, projects its total losses from Hurricane Ian to be about $1 billion, well below its $3 billion reinsurance coverage. The statement came a week after …
Read More Chemical Plant Owner to Pay $187M for Maine River Pollution Cleanuo
PORTLAND, Maine (AP) — The owner of a former chemical plant that dumped mercury into the Penobscot River must pay at least $187 million to remove the contamination in a resolution to a decades-long legal battle. A federal judge on …
Read More California Tree Trimmer Killed After Fall into Wood Chipper
A tree trimmer was killed this week in the San Francisco Bay Area after he fell into a wood chipper, authorities said. The man, whose name has not been released, was working in the city of Menlo Park shortly before …
Read More Kids, Staff Sickened by Carbon Monoxide Leak at Pennsylvania Day Care Center
ALLENTOWN, Pa. (AP) — A malfunctioning heater sent a dangerously high level of carbon monoxide into a Pennsylvania day care center early Tuesday, sickening dozens of children — some of whom were unconscious as they were rushed to the hospital …
Read More Oklahoma Insurance Commissioner Encourages Fire Prevention
Oklahoma Insurance Commissioner Glen Mulready is using fire prevention week to encourage policyholders to check on their home heating systems as cooler weather approaches. Proper maintenance protects homes from fire dangers. Fire-related damages resulted in $1.3 billion in claims nationwide …
Read More Texas Department of Work Comp Adopts MQRP Rule Changes
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) has adopted amendments to 28 Texas Administrative Code §180.62, concerning the Medical Quality Review Panel (MQRP). DWC proposed this rule on June 28, 2022. It was published in the July …
Read More People Moves: O’Leary Named CEO RSA Luxembourg; Northcourt Names Pool Re’s Butler as Nuclear Industry Adviser; Aon Taps WTW’s Dell’Aglio for Strategy & Tech Unit
This edition of International People Moves details appointments at RSA Luxembourg; Northcourt (the MGA and underwriter of nuclear risks), and Aon. A summary of these new hires follows here. O’Leary Named CEO for RSA Luxembourg Intact Insurance Group USA LLC …
Read More Ryan Specialty Appoints Senior Distribution Roles; VIAA Promotes Morris to Commercial Lines Coach
Ryan Specialty appoints new senior distribution leadership roles within Ryan Specialty Underwriting Managers Ryan Specialty, headquartered in Chicago, Illinois, has announced promotions to key new roles within the underwriting managers specialty. Tom Curran has been appointed chief wholesale distribution officer. …
Read More Top U.S. Homeowners Insurers Minimally Exposed to Losses from Ian: Moody’s
A report from Moody’s Investors Service clearly paints Ian as a loss event for Florida-only home insurers since large, national insurers have significantly reduced exposure in the Sunshine State throughout the years. Six of the top 10 writers of homeowners …
Read More QBE Opens Dutch Branch as Part of Europe Expansion Plans; 5 Senior Hires Announced
QBE said it will begin writing business in the Netherlands, incepting from January 2023, now that it has received regulatory approval from the DNB (De Nederlandsche Bank). The company first announced its plans to launch a Dutch branch in June …
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