INSURANCE NEWS
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 …
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 …
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 …
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. …
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 …
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 …
Markets/Coverages: Lockton Launches Digital Asset Custody Insurance Facility; WTW Launches Risk IQ Portal for Direct Access to Modeling Tools
Lockton Launches Digital Asset Custody Insurance Facility Lockton has launched a digital asset custody insurance facility, which was developed by Lockton’s Emerging Asset Protection (LEAP) team in collaboration with leading global custody insurers. The facility is supported by Lloyd’s syndicates, …
Buffalo Staffing Firm Settles Employment Discrimination Lawsuit
Staffing Solutions of WNY Inc., a Buffalo-based staffing company serving western New York, will pay $550,000 to settle an employment discrimination lawsuit filed by the Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to EEOC’s lawsuit, Staffing Solutions …
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a research report published …
AM Best: Trouble Around the Bend for Commercial Auto Insurers After Good 2021?
For the first time in many years the commercial auto insurance segment enjoyed a combined ratio below 100 in 2021, but increased claim frequency and severity in 2022 point to a U-turn in financial results. According to AM Best, costs …
$2.75M Settlement to Washington Woman in Highway Crash
Washington state has agreed to pay $2.75 million to a woman who was seriously hurt in a rollover crash involving a state Department of Transportation vehicle on Highway 522. On March 5, 2018, Kara Janneh of Monroe was driving her …
Pennsylvania Jury Awards Corrections Officer $1M Over Retaliatory Firing Claim
A white Allegheny County jail corrections officer who claimed he was fired in retaliation for reporting racial and sexual harassment incidents has been awarded almost $1 million by a federal jury. Jeffrey Kengerski claimed that the Allegheny County Jail and …