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Tag: liability


Regulatory / Legal

Is It Covered?: A Flood of Uncovered Claims

April 6, 2021

Via: Insurance Journal

On a recent insurance social media page, an agent was looking for a market for a $2 million home that had experienced a $540,000 plumbing leak claim and the carrier had nonrenewed. A few weeks earlier, another agent had been […]


Geo-Political, Risk Management

Oklahoma, Farmers Insurance Reach $25M Settlement Over Earthquake Claims

April 6, 2021

Via: Claims Journal

Oklahoma has reached a $25 million settlement with Farmers Insurance over the company’s handling of earthquake claims, state officials say. Oklahoma Attorney General Mike Hunter and Insurance Commissioner Glen Mulready say an investigation revealed that Farmers denied or failed to […]


News

Aggregate value of insurance sector M&A deals up sharply in Q1

April 5, 2021

Via: Business Insurance

First-quarter mergers and acquisitions involving U.S. and Bermuda-based insurance industry companies produced an aggregate deal value of $21.16 billion, according to a report Monday from S&P Global Market Intelligence. This year’s first-quarter tally tops full-year deal totals for 2019 and […]


News

Varney Insurance Agency launches Varney Re

April 5, 2021

Via: Insurance Business

Varney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base. Tod Austin (pictured above) has been appointed chief […]


Regulatory / Legal

Utah Passes Law Requiring Pilot Insurance Following Plan Crash

March 29, 2021

Via: Insurance Journal

The lawsuit from a 2017 crash of an airplane on 1900 West in Roy lingers on, more than three years after it was filed. The pilot, apparently, was not insured, leaving Samantha Sandoval – hit in her car in the […]


News

Fajardo Joins JAG Insurance Group as Director of Marine Insurance

March 12, 2021

Via: Insurance Journal

JAG Insurance Group (JAG), a South Florida-based commercial insurance agency with Florida offices in Coral Gables and Delray Beach, as well as Charlotte, N.C., has added Andy Fajardo as director of Marine Insurance. As a commercial lines coverage specialist (CLCS), […]


Regulatory / Legal

State high court rules insurer can claw back defense costs

March 12, 2021

Via: Business Insurance

An insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]


News

Transverse Insurance Group bolsters leadership team

March 11, 2021

Via: Insurance Business

Property and casualty program carrier Transverse Insurance Group has announced two changes to its leadership team. The company has appointed John Fitzgerald as chief financial officer, while Robert Zerafa will assume the role of chief operating officer. Prior to joining […]


Regulatory / Legal

California Commissioner Says Insurers Overcharged Drivers During Pandemic

March 11, 2021

Via: Insurance Journal

Lara is now directing auto insurance companies to report by April 30 how they will return additional premium back to California policyholders that was reportedly over-collected in 2020. He is also directing commercial insurance companies to provide data about commercial […]


Geo-Political, Risk Management

US winter storm loss creep likely to be prolonged: Aon

March 5, 2021

Via: Artemis BM

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]