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News – Insurance Journal
Texas’ Blue Bell Creameries to Pay $17.25M in Penalties for Listeria Contamination
Texas-based Blue Bell Creameries L.P. has been ordered to pay $17.25 million in criminal penalties for shipments of contaminated ice cream products linked to a 2015 listeriosis outbreak, according to the U.S. Justice Department/ Blue Bell pleaded guilty in May …
POSTED SEPTEMBER 23, 2020 6:30 AM |
Independent Brokers Will Remain Competitive by Adding Value to the Value Chain
The COVID-19 crisis has highlighted the need for brokers to add value to the insurance transaction, according to Toby Esser, chairman of AFL Insurance Brokers, a London-based independent broker. Indeed, Esser said, the COVID-19-related coverage disputes involving business interruption pandemic …
POSTED SEPTEMBER 23, 2020 6:00 AM |
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary …
POSTED SEPTEMBER 23, 2020 6:00 AM |
Texas Auto Insurance Plan Association Requests 4.8% Commercial Rate Hike
The Texas Automobile Insurance Plan Association (TAIPA) has filed a request with the Texas Department of Insurance to charge new insurance rates for commercial automobiles. The filed rates represent a 4.8% increase in commercial automobile rates. TAIPA proposed an effective …
POSTED SEPTEMBER 23, 2020 5:34 AM |
Lockton Pacific Promotes Hostovich and Barnes in California
Lockton Insurance Brokers LLC, the Pacific region of global insurance broker Lockton Cos., has named Teena Hostovich vice chair of Lockton Pacific and Greg Barnes president of Greater Los Angeles. Barnes and Hostovich are based in Lockton’s Los Angeles office. …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Shopify Customer Data Likely Exposed by 2 Employees Attempting to Steal Records
Shopify Inc. said on Tuesday data of customers who shopped at fewer than 200 merchants listed on the company’s e-commerce platform was likely exposed after two employees tried to steal transaction records. The data exposed includes email, name, and address, …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Confident Russia Vows to Shoulder Some of the Legal Liability of Its COVID-19 Vaccine
Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Toyota Insurance in Europe Joins Swiss Re’s Vehicle Risk Rating System
Toyota is the newest partner in the Swiss Re platform that provides a risk score on vehicles so insurers can develop premiums that reflect new safety features. Through this partnership with Toyota Insurance Services (TIS)/Toyota Insurance Management Europe, Swiss Re …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Labor Department Eyes Simpler Rule for Classifying Independent Contractors
The U.S. Department of Labor on Tuesday said it would soon propose a rule that could make it easier to classify workers as independent contractors rather than employees, a major issue for the “gig economy” and other industries that use …
POSTED SEPTEMBER 23, 2020 5:00 AM |
Arch Insurance Forms Single Managing Agency to Manage 4 Lloyd’s Operations
Arch Insurance International has formed Arch Managing Agency Limited to mange its Lloyd’s units. Arch Managing Agency Limited, which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency Ltd. into a single operation, will manage Syndicate 2012, Syndicate 1955, …
POSTED SEPTEMBER 23, 2020 5:00 AM |
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