INSURANCE NEWS
People Moves: Gonzales joins Marsh as Houston Energy Hub and Office Leader
Marsh, a business of Marsh McLennan headquartered in New York, announced today that Susan Gonzales has joined the firm as its Houston energy hub and office leader. In this dual role, Gonzales will lead a team of more than 70 …
Muddy Waters Shorts Canada Insurer Fairfax Financial, Alleging Asset Value Manipulation
Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial alleging manipulation in its asset values, sending the shares of the property and casualty insurer down 7%. Fairfax has struggled since 2017 when they recorded …
Supreme Court in UBS Case Makes it Easier for Whistleblowers to Win Suits
The U.S. Supreme Court on Thursday made it easier for financial sector whistleblowers to win lawsuits accusing companies of unlawfully firing them as retaliation for disclosing wrongdoing, rejecting a bid by Switzerland’s UBS Group to impose a higher bar. The …
NC Postal Worker Pleads Guilty to Comp Fraud After Photos Show Him Ziplining
A 73-year-old postal worker pleaded guilty this week to more than $100,000 in workers’ compensation fraud after social media postings showed him engaged in rigorous physical activity, including ziplining at Niagara Falls. Johnnie Franklin Sullivan Sr., of Mooresville, North Carolina, …
Markets/Coverages: Corvus Expands Tech E&O; K2 OCONUS Workers Comp for Government Contractors; Xceedance’s MGA Agility Suite
Corvus Insurance introduced a newly expanded Tech E&O product with an enhanced appetite backed by Travelers. Smart Tech E+O from Corvus provides creative risk solutions for technology businesses across the spectrum of size and complexity, including primary and excess policies. …
People Moves: WIND Network Names New Officers, Board Members
The Windstorm Insurance Network, known as WIND, a continuing education organization for adjusters, appraisers and other claims professionals, has installed new officers and board members after its annual conference in Orlando. Wayne Taylor, a plaintiffs’ attorney with Mozley, Finlayson & …
Construction Worker Killed When Foundation Collapses in House Being Waterproofed
The partial collapse of a house foundation was the apparent cause of the death of a 51-year old construction worker in Hanson, Massachusetts on Wednesday morning. The worker, Gerceir Osvaldo DeFaria, was pronounced dead on the scene, according to Plymouth …
Two Years After Deadly Tornadoes, Some Kentucky Families Still Waiting for Housing
MAYFIELD, Ky. (AP) — Ashley Prince and her family have been chasing “normal” for years now. Two years ago, the tornado that whipped through Mayfield peeled the roof off their rental property “like a band-aid.” She and her fiance Dylan …
Mother of Teen Killed at Miss. Poultry Factory Sues Company for Negligence
(AP) — The mother of a 16-year-old who died in a workplace accident at a Mississippi poultry factory is suing the companies that hired and employed him, accusing them of failing to follow safety standards that could have prevented his …
January Was World’s Hottest on Record: EU Scientists
The world just experienced its hottest January on record, continuing a run of exceptional heat fueled by climate change, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. Last month surpassed the previous warmest January, which occurred in …
Chinese Hacking Campaign Aimed at Critical Infrastructure Goes Back 5 Years
An advanced group of Chinese hackers taking aim at U.S. critical infrastructure have been active for as long as half a decade, American and allied intelligence agencies said in a joint statement on Wednesday. The U.S. National Security Agency, U.S. …
AXA’s CEO Buberl Wants to ‘Scale Up’ Corporate Business
AXA SA’s Chief Executive Officer Thomas Buberl says he intends to “scale up” the firm’s business insuring corporate risks in the next phase of the firm’s growth. “In a highly volatile and highly unpredictable environment it is important to take …