INSURANCE NEWS
Casualties Mount in Pennsylvania Chocolate Factory Explosion
WEST READING, Pa. (AP) – A fifth body has been recovered from the site of a powerful explosion at a chocolate factory in a small town in eastern Pennsylvania and two remained unaccounted for Sunday. West Reading Mayor Samantha Kaag …
Professional Benefit Services in Washington Acquired by Parker, Smith & Feek
Parker, Smith & Feek acquired Professional Benefit Services Inc. in Washington. PBS President Jere Meyer and Account Executives Katie Stewart and Lesley Behrndt will join Parker, Smith & Feek’s team of more than 350 associates. PBS provides group employee benefits …
Credit Suisse’s Catastrophe Bonds Should Outlive the Bank: DBRS Morningstar
Bonds designed to insure Credit Suisse Group AG against disaster could outlive the bank. Credit Suisse’s Operational Re bonds, insurance-linked securities that cover the bank against perils such as falling victim to fraud and accounting errors, should remain unaffected by …
Supreme Court Lets Chevron Foe Donziger’s Contempt Conviction Stand
The U.S. Supreme Court on Monday declined to hear a disbarred environmental lawyer’s challenge to his criminal contempt conviction after he earlier won but was unable to collect a $9.5 billion judgment against Chevron Corp. over oil pollution in Ecuadorian …
Markets/Coverages: CFC Launches Admitted Offerings for Professional Liability, Tech E&O
CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, recently announced the expansion of its admitted product suite with the addition of professional liability and technology E&O. The company has been trading its admitted solution …
ConocoPhillips Details Gas Leak Cause, Remedies at Alaska Hearing
ConocoPhillips, which last week received U.S. government approval for the massive Willow oil drilling project in Alaska, detailed reasons for a natural gas leak at another North Slope field that prompted the evacuation of 300 employees last year. Officials with …
Hackers Breached UK Pension Protection Fund, Stole Employee Data
Hackers obtained data on some employees of the UK’s Pension Protection Fund after exploiting a third-party data transfer service, according to a fund spokesperson. The Pension Protection Fund manages £39 billion of assets for its 295,000 members, according to its …
New York Surgeon Gets 36 Months in Jail for Role in $30M Trip-and-Fall Scam
A New York-licensed pain management doctor has been sentenced to 36 months in prison for his participation in a scheme to obtain fraudulent insurance reimbursements and other compensation from fraudulent trip-and-fall accidents. Damian Williams, U.S. Attorney for the Southern District …
People Moves: Acrisure Re Hires Ed Broking’s D’Arcy for Fac Team; MS Amlin Names Carpenter’s Turner to Lead Risk Analytics; Tysers Taps Primassure’s Moore for Energy
This edition of International People Moves details appointments at Acrisure Re, MS Amlin and Tysers Broking. A summary of these new hires follows here. Acrisure Re Hires Ed Broking’s D’Arcy for Facultative Team Acrisure Re, the re/insurance division of top-10 …
Georgia Lawmakers Flip the Script on Use-and-File for Auto Rate Increases
Georgia lawmakers have approved a bill that, if signed into law, would end the longstanding “use-and-file” mechanism on auto insurance rate filings in the state. The state Senate last week voted 49-2 in favor of House Bill 221, a measure …
Arkansas Governor Passes School Bathroom Bill
LITTLE ROCK, Ark. (AP) – Arkansas Gov. Sarah Huckabee Sanders last Tuesday signed a law prohibiting transgender people at public schools from using the restroom that matches their gender identity, the first of several states expected to enact such bans …
Wisconsin Farm Reaches $215K Pollution Settlement
MADISON, Wis. (AP) – A factory farm has agreed to pay the Wisconsin Department of Justice $215,000 to settle pollution allegations. The Legislature’s finance committee is slated to approve the deal during a meeting last Tuesday. According to an analysis …