INSURANCE NEWS
People Moves: Lloyd’s Europe Hires Heugues From Ageas as Chief Underwriter; Parsyl Staffs London Marine Cargo Office
Lloyd’s Europe reports the appointment of Bertrand Heugues as chief underwriting officer effective 14 July. He will be responsible for overseeing underwriting, delegated authority management, claims and the reinsurance business. Bertrand joins Lloyd’s Europe from Ageas in Brussels where he …
Appeals Court Upholds Dismissal of Alabama Judge’s Suit Against ‘Borat’ Comedian
Sacha Baron Cohen on Thursday defeated an appeal by former Alabama Chief Justice Roy Moore who had accused the British comedian of defamation for falsely portraying him as a pedophile in an interview for the show “Who Is America?” In …
Vermont Man Facing Murder, Insurance Fraud Charges Seeks Release From Custody
The Vermont man charged with killing his mother at sea in a plot to inherit millions of dollars has asked a federal court to authorize his release from custody pending trial. The attorneys for Nathan Carman filed a motion Wednesday …
UK Judges Clear Path for $7B Suit Against BHP Over Deadly Brazil Dam Collapse
UK judges paved the way for a group of more than 200,000 people to bring a suit against BHP Group Ltd. over its role in the deadly collapse of a mining dam in Brazil. The appeal judges overturned a lower …
Insurance Losses From Sydney Floods Approach A$100M: ICA
Insurers have received 8,415 claims as a result of July’s floods in Sydney, carrying an initial estimated insurance price tag of A$97.9 million (US$66.8 million), according to the Insurance Council of Australia (ICA). The ICA said 84% of the claims …
ECB Climate Stress Test Highlights $71 Billion Risk for Euro Zone Banks
A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone’s largest banks, the European Central Bank said on Friday. The ECB …
Miller Acquires Tokyo-Based Broker Lead Insurance Services
Miller, the independent specialist re/insurance broker, announced the acquisition of Lead Insurance Services Ltd. Lead is based in Tokyo, Japan, and the acquisition cements a longstanding relationship between the two businesses. Founded in 1994, Lead specializes in hull, war risks …
Georgia Insurance Office to Hold Hearing on Agency, Fire Safety Rule Changes
The Georgia Commissioner of Insurance will hold a hearing in August on a slew of proposed rule changes, affecting everything from fire safety at self-serve gas pumps and group homes to insurance agency license renewals. The hearing will be Aug. …
Takeaways from Our Conversation on Insuring Cannabis Seeds
If you’re looking for a niche within a niche, insuring cannabis seeds be the answer. The U.S. Drug Enforcement Administration declared in a memo issued in April that cannabis seeds that don’t exceed the .3% THC limit do not fall …
Bayer, BASF Win New Trial on $60 Million Damage Award in Weedkiller Lawsuit
Bayer and BASF have won a new trial on $60 million in punitive damages they were ordered to pay a Missouri peach farmer who said dicamba, a herbicide they produced, drifted onto his orchard and harmed his crops. The 8th …
Woman Sentenced to 8 Years in California Medical Fraud Insurance Billing Scheme
A former Southern California woman who, along with her doctor husband, billed insurers $44 million for unnecessary cosmetic surgeries was sentenced to eight years in federal prison. Linda Morrow, 70, also was ordered to pay $14 million in restitution. She …
People Moves: IMA Select in Colorado Names Harvath President; IOA Adds Armstrong
IMA Select in Colorado named Sandy Harvath president. Harvath has been with IMA Financial Group since 2003, most recently serving as the president of its Colorado market. She began her career at IMA as construction account manager and progressed to …