January 23, 2019

Wed, 23 Jan 2019 21:24:43 +0000
A powerful winter storm has left a trail of traffic accidents, power outages and even an avalanche across Utah. Little Cottonwood Canyon reopened Tuesday morning, a day after an avalanche closed the canyon and State Route 210. Meanwhile, state troopers …
Wed, 23 Jan 2019 21:22:06 +0000
The nation’s largest utility has lined up $5.5 billion in credit and loans so it can continue operating as it prepares for bankruptcy. Pacific Gas & Electric said in a regulatory filing Tuesday it secured commitments from JPMorgan Chase, Bank …
Wed, 23 Jan 2019 17:59:15 +0000
The Travelers Companies, Inc. has partnered with ASQ Underwriting, a managing general underwriter, to offer transactional risk insurance in the United States, as strategic and private equity investors increasingly turn to insurance to mitigate deal ris...
Wed, 23 Jan 2019 17:24:25 +0000
A settlement has been reached in a federal lawsuit accusing an Oklahoma school district of shielding a sexual predator and calling children liars. Perry Public Schools admitted liability for the “unwanted and unlawful touching” of 14 girls by a former …
Wed, 23 Jan 2019 17:00:03 +0000
Bryan Shofner has joined Houston-based wholesale insurance broker and managing general agency, LP Risk, as director of operations. Shofner’s previous roles include senior vice president of Marsh McLennan Agency LLC and president and CEO of Shofner & As...
Wed, 23 Jan 2019 16:52:59 +0000
Cannasure Insurance Services (Cannasure), an insurance managing general agent (MGA) and wholesale broker for the cannabis and hemp industries, has hired Jay Dharia as client service director in the group’s Cleveland, Ohio, corporate office. Dharia will...
Wed, 23 Jan 2019 16:47:18 +0000
Specialty insurer Tokio Marine HCC announced that Shilpa Strong has joined the company as Business Innovation Officer to pursue continued investment in operational efficiencies, customer experience and digital innovation. Strong has 20 years of insuran...
Wed, 23 Jan 2019 16:46:27 +0000
A former Iowa insurance agent has been convicted of insurance fraud following an insurance fraud investigation by the Iowa Insurance Division’s Fraud Bureau. The division reported that Joy Marie Heldt, age 48, of Madrid, was convicted of Fraudulent Sub...
Wed, 23 Jan 2019 16:24:42 +0000
France’s data protection watchdog fined Alphabet’s Google 50 million euros ($57 million) on Monday [Jan. 21] for breaching European Union online privacy rules, the biggest such penalty levied against a U.S. tech giant. The French regulator said the wor...
Wed, 23 Jan 2019 16:23:56 +0000
American Family Insurance joined a new $43 million financing round for Clearcover, a managing general agent with an artificial intelligence-driven platform focused on car insurance. The Chicago-based insurtech startup said its Series B financing was le...
Wed, 23 Jan 2019 16:05:02 +0000
Phoenix, Ariz.,-based CopperPoint Insurance Cos. has named Rachel Davis-Schultz senior vice president and chief human resources officer. Rachel has more than 21 years of experience. For the past 10 years, she has been with Express Scripts, a pharmacy b...
Wed, 23 Jan 2019 15:58:11 +0000
Bayer AG unit Monsanto has asked a California judge in the litigation over its glyphosate-based weed killer Roundup allegedly causing cancer to limit evidence by splitting an upcoming trial into two phases, a request previously successful with another ...
Wed, 23 Jan 2019 14:37:50 +0000
The family of a Maryland man crushed by a van in a Delaware junk yard is suing the business for up to $20 million for gross negligence, wrongful death and other claims. The News Journal of Wilmington reports the family …
Wed, 23 Jan 2019 14:29:52 +0000
Global Excess Partners (GEP), a specialty insurance organization, has promoted Brendan Cook from vice president to vice president and managing director. He reports to Chris Zoidis, corporate executive vice president of H.W. Kaufman Group, the parent co...
Wed, 23 Jan 2019 14:25:57 +0000
Value-based care, political party changes in several states, and a more holistic view of patient injuries will impact the workers’ compensation industry this year, according to two experts hosting a workers’ compensation webinar series, Out Front Ideas...
Wed, 23 Jan 2019 14:25:02 +0000
XPT Group LLC has acquired SVA Underwriting Services Inc., a trucking and transportation MGA and Lloyd’s Coverholder. SVA Underwriting specializes in physical damage and cargo cover with the ability to underwrite, issue policies and endorsements and ar...
Wed, 23 Jan 2019 14:11:14 +0000
Reports of drone sightings in northern New Jersey temporarily halted arrivals at Newark Liberty International Airport on Tuesday, a spokesman from the Federal Aviation Administration (FAA) said. The spokesman said flights into Newark – the 11th busiest...
Wed, 23 Jan 2019 13:54:48 +0000
A wheeled robot named Marty is rolling into nearly 500 grocery stores to alert employees if it encounters spilled granola, squashed tomatoes or a broken jar of mayonnaise. But there could be a human watching from behind its cartoonish googly …
Wed, 23 Jan 2019 13:30:38 +0000
The rich are getting richer, and younger. A survey of U.S. investors with $25 million or more finds their average age dropped by 11 years since 2014, to 47. These fabulously rich Americans, whose ranks have more than doubled since …
Wed, 23 Jan 2019 11:40:47 +0000
Two ships ablaze in the Black Sea region, leaving at least 10 crew dead, caught fire while transferring fuel mid-sea after one vessel was barred from using its usual port in southern Russia due to U.S. sanctions risk, two sources …
Wed, 23 Jan 2019 10:28:47 +0000
Volvo Cars, which is owned by China’s Zhejiang Geely Holding Group, is voluntarily recalling about 200,000 cars after it found an engineering issue that could potentially cause fuel leakage in the engine compartment over time. The group said its probe …
Wed, 23 Jan 2019 09:48:35 +0000
Denmark’s status as one of the world’s least corrupt places has been undermined by the money laundering scandal engulfing its biggest bank, according to the country’s financial regulator. In a report examining risks facing Danish banks, the Financial S...
Wed, 23 Jan 2019 09:33:53 +0000
U.K. entrepreneur Luke Johnson’s efforts to save Patisserie Valerie failed as an accounting scandal pushed the bakery chain’s parent into insolvency, threatening as many as 2,800 jobs on Britain’s beleaguered shopping streets. Patisserie Holdings Plc a...
Wed, 23 Jan 2019 09:11:48 +0000
Broker ED&F Man has filed a $284 million lawsuit against two Hong Kong companies, alleging that they knowingly provided fraudulent warehouse receipts for nickel stored in Asia, court documents show. The two Hong Kong firms, Come Harvest Holdings Ltd (C...
Wed, 23 Jan 2019 07:20:30 +0000
To be the insurer of last resort for wind and hail insurance along the Texas coast, without state support and reliant on premium dollars and debt financing for funding, or to be a true insurance company that derives funding primarily …
Wed, 23 Jan 2019 06:16:10 +0000
Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired United Health Actuarial Services Inc. (UHAS), a health actuarial, management, and underwriting consulting firm based just north of Indianapolis in Ca...
Wed, 23 Jan 2019 06:13:17 +0000
A program that helps people rebuild homes that were damaged or destroyed in West Virginia’s 2016 flood is being affected by the partial federal government shutdown. The Charleston Gazette-Mail reports a statement from the West Virginia National Guard, ...
Wed, 23 Jan 2019 06:07:34 +0000
A few comic books from a stolen Batman collection worth $1.4 million have been recovered after an arrest in Arizona. News station ABC-15 in Phoenix reports that police charged Phillip Weisbauer of Royal Palm Beach, Florida, with theft and trafficking …
Wed, 23 Jan 2019 06:00:08 +0000
Johnson & Johnson and its DePuy Orthopaedics unit have agreed to pay $120 million to resolve deceptive marketing claims by several U.S. states over the company’s metal-on-metal hip implants. Attorneys general of 46 U.S. states announced the settlement ...
Wed, 23 Jan 2019 05:55:53 +0000
Jacksonville, Fla.-based Brightway Insurance has added Max Staplin as its in-house counsel and member of its executive leadership team. In this new role, Staplin will oversee all legal and compliance matters for the company. According to Brightway Co-F...