INSURANCE NEWS

People Moves: Lockton Re Taps CyberCube’s Brew for London Cyber Practice; Howden Hires Tysers Godfrey for Equine Division; Carpenter’s Delegated Authority Unit Hires 3

This edition of International People Moves details appointments at three brokers: Lockton Re’s Cyber Practice, Howden’s Equine division and Guy Carpenter’s delegated authority unit. A summary of these new hires follows here. Lockton Re Taps CyberCube’s Brew to Lead London …
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Australian Insurer Medibank Says Hackers Claim to Have Stolen Customer Data

Australia’s Medibank Private Ltd. said on Wednesday an unnamed hacker group had contacted it negotiate about customer data it claimed to have retrieved from the health insurer’s IT systems. The news comes six days after Medibank reported an attempted ransomware …
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EU’s Sanctions Against Russia Could Deprive Some of World’s Tanker Fleet of Insurance

The European Union’s latest sanctions on Russian petroleum could end up depriving a swath of the world’s tanker fleet of industry standard insurance, a move that threatens to undermine US efforts to avert an oil supply shock. The bloc’s eighth …
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Amazon Launches Online Home Insurance Store for UK Customers

Amazon.com Inc. is moving into a new business area, offering UK consumers home and contents insurance from third-party providers. The world’s largest online retailer will initially provide shoppers with quotes from LV= General Insurance, Ageas UK and Co-op, with more …
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PIA, AIMS Society to Consolidate

The National Association of Professional Insurance Agents (PIA) and the American Insurance Marketing and Sales Society (AIMS Society) have announced they will combine entities to “redefine the future of insurance education.” A formal agreement was signed by both organizations and …
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Industry Trades Respond to FIO’s Proposal to Collect Climate Change Data

Shortly after Treasury’s Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade associations was, at best, tepid. “You don’t need a massive data collection to know …
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People Moves: New QBE Marine Hires; Hirschorn Joins Lockton as U.S. Cyber Claims Lead

QBE Appoints New Marine VPs QBE International Markets is increasing its presence in the US marine insurance space and has appointed Sean Dollahon, vice president, US marine manager, and Katie McCord, vice president, senior marine underwriter, to its team. With …
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Farm Bureau Must Defend Insured in Deadly Legionnaires’ Disease Outbreak in Carolina

What started out as festive time at the North Carolina Mountain State Fair in 2019 ended with 96 people hospitalized with Legionnaires’ disease. Four of them died. The tragedy in Fletcher, North Carolina, made national headlines. Multiple victims filed suit …
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Requiring Citizens’ Policyholders to Also Buy Flood Insurance Could Address Problems

Problem: Less than 20% of Floridians in vulnerable areas carry flood insurance. Uninsured flood losses from Hurricane Ian are projected to be as high as $16 billion – almost half as much as insured wind damages, according to CoreLogic, the …
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California Democrats Split on Tax Plan to Drive EV Sales

A California ballot measure that would tax the rich to help put more electric cars on the road may seem tailor-made to win support from Democrats in a state known for climate leadership, but Proposition 30 has one notable opponent: …
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Washington Chemical Processor Fined Nearly $200K for 60-Plus Safety Violations

A manufacturing company that works with dangerous chemicals in Moses Lake, Washington, faces $192,620 in fines for 46 serious and 17 general safety and health violations. Two Rivers Terminal LLC formulates products for agricultural fertilizer, airports, pulp and paper, and …
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Agents Want End to California Auto Insurance Rate Moratorium

An insurance agent group in California is opining on the impact of California Insurance Commissioner Lara’s recent auto insurance rate decisions on California consumers. They do not like Lara’s auto insurance rate moratorium. “Commissioner Lara’s Rate Moratorium and his refusal …
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