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Earthquake Swarm Around San Francisco Persists
The U.S. Geological Survey reports that in the last two weeks more than 400 small earthquakes have hit a city east of San Francisco. KNTV reported that the city of San Ramon appears to have broken an earthquake record with …
What Are Chances a U.S Business Will Face an Employee Lawsuit?
U.S.-based small and medium sized businesses face an almost 12 percent chance that they it will be hit with an employment claim, with their chances much higher in certain states. A new study of employee charge trends by specialty insurer …
West Coast Towns Vulnerable to Tsunamis Consider Ways to Save Lives
Bracing for a tsunami like the one that devastated Japanese communities during a 2011 mega-earthquake, coastal communities from British Columbia to California have been grappling with how to protect people from a similar catastrophe. One of those towns is constructing …
Lyft Becomes First to Offer Ridesharing at Las Vegas Airport
Lyft is the first ridesharing company to offer trips to travelers at McCarran International Airport in Las Vegas. Lyft said it began offering airport rides Monday morning. The company’s smartphone app connects individuals in need of a ride with drivers …
Insurers Unprepared for Costs of Climate Change, Warns UN Climate Diplomat
Insurers are unprepared for the costs of climate change, the top United Nations climate diplomat said as world leaders make final preparations for a deal on global warming. The agreement, which the UN expects to seal in Paris in December, …
Ping An Profit Rises 32% as Higher Premiums Offset Stock Market Slump
Ping An Insurance (Group) Co., China’s second-largest insurer, said third-quarter profit rose 32 percent as higher premium income and banking revenue helped offset the impact of a stock market rout on investment returns. Net income climbed to 13.6 billion yuan, …
Ace Sells $5.3 Billion of Bonds for Chubb Deal
Ace Ltd. sold $5.3 billion of bonds to finance its acquisition of Chubb Corp. The debt sale, which will help close a deal valued at about $30 billion, was issued in four parts, with the longest portion, a 30-year bond, …
Distinguished LLC Acquires Fulcrum Programs in Washington
Distinguished LLC finalized its acquisition of Bellevue, Wash.-based Fulcrum Insurance Programs. Terms of the deal were not disclosed. Fulcrum will combine with Distinguished’s own real-estate and hospitality program administrator, Bellevue-based National Specialty Underwriters. The combined businesses will be rebranded as …
Testing Shows Chemicals in Well Water Near Tennessee Power Plant
Albert Hudson worries about the water coming from the well on his property near the Tennessee Valley Authority’s coal-fired power plant in Gallatin, Tenn. Hudson received a letter recently from the Tennessee Department of Environment and Conservation notifying him that …
Florida’s Orchid Underwriters Enters Commercial E&S Business, Hires 2 to Lead
Florida-Based Orchid Underwriters Insurance Agency, LLC, a specialty underwriter of property insurance focusing on coastal properties, has named Robert J. Rose senior vice president of Underwriting and Programs and Bryan Schofield vice president of Commercial Lines. Both are newly created …