INSURANCE NEWS
Chubb Q2 Net Income Drops $1 Billion; Books Record Insurance Results
Chubb Ltd. late Tuesday said second quarter net income was about $1.22 billion, more than a 46% fall from $2.27 billion in net income logged during the same period a year ago. The insurer said it lost $565 after tax …
Washington Department of Labor Issues Outdoor Worker Guidance Amid Heat Wave
The Washington Department of Labor & Industries is responding to potentially record-breaking temperatures across Washington this week and warning businesses in industries from agriculture to building and road construction that they are required to take steps to protect outdoor workers …
Tesla’s Phantom Brake Problem Exposes Need for Human Audits of Machine-Read Data
“Slamming on the brakes” is often a blaming moment. Someone most likely was not paying attention to conditions, but is that always the case? In the case of usage-based insurance models, which determine an individual driver’s rates based on patterns …
People Moves: Howden RE Hires Former Carpenter Exec Thienel to Launch German Unit; MGA Alta Signa Appoints Kisters as Professional Indemnity Manager, Netherlands
This edition of International People Moves details appointments at the broker Howden RE and the MGA Alta Signa Europe. A summary of these new hires follows here. Howden RE Hires Former Carpenter Exec Thienel to Launch German Reinsurance Unit Howden …
Firefighters Slow Growth of Massive California Blaze Near Yosemite
Firefighters have significantly slowed the spread of a huge wildfire burning in a forest near Yosemite National Park that burned 55 homes and other buildings and forced thousands from their homes, officials said Monday. “It was a successful day for …
Alaska Experiencing Wildfires It’s Never Seen Before
Alaska is burning this year in ways rarely or ever seen, from the largest wildfire in a typically mainly fireproof southwest region to a pair of blazes that ripped through forests and produced smoke that blew hundreds of miles to …
Alpine Glaciers Decline at Record Rates Following Heatwaves
MORTERATSCH GLACIER, Switzerland – From the way 45-year-old Swiss glaciologist Andreas Linsbauer bounds over icy crevasses, you would never guess he was carrying 10 kg of steel equipment needed to chart the decline of Switzerland’s glaciers. Normally, he heads down …
Alex Jones’ Defamation Trial Set to Begin in Texas
Jury selection was set for Monday in a trial that will determine for the first time how much Infowars host Alex Jones must pay Sandy Hook Elementary School parents for falsely telling his audience that the deadliest classroom shooting in …
Markets/Coverages: Openly’s New Homeowners Carrier; Neptune Flood, SIAA Partnership; MiKargo247 Launches for Per-Load Freight
Openly Starts Openly Insurance Company, a Licensed Homeowners Insurance Carrier Openly announced the launch of the Openly Insurance Company, a homeowners insurance carrier licensed in 17 states. Openly had formerly operating solely as a MGA. The announcement was made only …
Auto Claimants Waiting Longer for Collision Repairs
Auto claimants are waiting longer for collision repairs — 4.5 days longer this spring compared to the same period last year, according to a report released Friday by Enterprise Rent-a-Car. Enterprise extrapolated repair times by tracking the average length of …
Record Temperatures, Wildfires Wreak Havoc on Europe’s Wineries and Vineyards
In Portugal’s Douro Valley on July 7, a wildfire burned close to Oscar Quevedo’s Quinta da Alegria vineyard. By the middle of the night, flames surrounded it. The vines around the edges, amounting to about a hectare, burned. In his …
Japanese Insurers Sell Heatstroke Coverage as Temperatures Soar to Record Levels
As temperatures soar to unprecedented levels from Europe to Asia this summer, some Japanese insurance companies have begun selling policies to protect people struck down by the heatwave. Sompo Holdings Inc. and Sumitomo Life Insurance Co., two of the country’s …