INSURANCE NEWS
People Moves: BHSI Promotes Browne, Holmes to Global U/W Posts; AXA XL Bolsters Energy Team With 3 Hires; MGA Alta Signa Names Marongiu Technical Head of Cyber U/W
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), AXA XL, and the MGA Alta Signa Europe. A summary of these new hires follows here. BHSI Promotes Browne, Holmes to Global Underwriting Posts Berkshire Hathaway …
Client, Reinsurer Expectations Were Better Aligned at April Renewals: Swiss Re
While the January reinsurance renewals proved to be the toughest and most gruelling for decades, the April 1 renewals, driven by the Japanese P/C market, were a much calmer affair, according to Swiss Re. “Overall, client and reinsurer expectations were …
EU Plans Tough ‘Value for Money’ Rules for Investment Products: Draft Proposals
Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters showed. The …
Hottest Ever April Recorded in Spain, Portugal as Heat Wave Hits Europe
Spain and Portugal recorded their hottest April on record as a mass of hot air brought temperatures above 30C and close to 40C in some areas at the end of the month. Last month was the fourth-hottest month of April …
7th Circuit: D&O Insurer Must Pay Settlement for Drugmaker’s Kickback Case
Federal Insurance Co. must pay the $10 million policy limit in a directors and officers policy issued to Astellas Pharma, despite the carrier’s assertion that Illinois public policy forbids it from reimbursing the drugmaker for the cost of settling allegations …
Byron Allen Sues McDonald’s for Allegedly Lying About Commitment to Black Media
The media entrepreneur Byron Allen has filed a second lawsuit against McDonald’s Corp over the fast-food chain’s alleged refusal to advertise with Black-owned media. In a complaint filed last week in Los Angeles, Allen’s Entertainment Studios Networks Inc and Weather …
Twitter Beats Disabled Worker’s Lawsuit Over Layoffs, for Now
A federal judge in California has tossed out a lawsuit accusing Twitter Inc of discriminating against workers with disabilities by requiring employees to report to the office and put in long hours working at high intensity. U.S. District Judge Haywood …
Lloyd’s Cyber War Exclusions: Confusing, Disruptive, but Necessary?
The rollout of the Lloyd’s Market Association’s (LMA) cyber war exclusions has received considerable criticism for the chaos and confusion caused in the weeks leading up to the March 31st effective date. But there are some certainties to keep in …
Light Duty or Scheme to Avoid Workers’ Comp Claim? Florida Appeals Court to Decide
Most people will be familiar with the posters at workplaces, noting the number of days since a lost-time work injury. Well, there’s a dirty little secret behind that, one that helps employers avoid higher experience modifications on their workers’ compensation …
People Moves: CREST Insurance Group in Arizona Names Cannatella Vice President
Crest Insurance Group, headquartered in Scottsdale, Arizona, named Steve Cannatella as a vice president of employee benefits. Cannatella spent the last ten years at Paychex Insurance Agency as a large group health and benefits sales representative for medium and large-size …
California Woman Who Sued Over Subway Tuna Seeks to Quit Case; Subway Demands Sanctions
The California woman suing Subway for claiming its tuna products contain ingredients other than tuna wants to end her lawsuit because she is pregnant, prompting Subway to demand her lawyers be sanctioned for bringing a frivolous case. Nilima Amin said …
Contractor Error Blamed for Hawaii Toxic Foam Spill
An investigation found that a spill of about 1,300 gallons of fire suppressant at a fuel facility in Hawaii was caused by a maintenance contractor improperly installing an air vacuum valve, U.S. military officials said. Aqueous Film Forming Foam, which …