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ADB, OECD Call for Governments, Insurers to Address Disaster Relief
Representatives from the Asian Development Bank (ADB) and the Organization for Economic Cooperation and Development’s (OECD) Global Seminar on Disaster Risk Financing fostered an in-depth debate on the development of effective approaches to the financial management of disaster risks, in …
Insurance Wholesaler Socius Names 3 to Leadership Posts
Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, announced three changes to its leadership team. According to Patrick E. Hanley Sr., president of Socius, the changes are: Greg Miller of the Miami Beach, Florida office has accepted …
Earthquakes Knock Out Power in Oklahoma Town
Two earthquakes — including one of magnitude 4.0 — rattled Cushing, Okla., and caused power outages, but no injuries or significant damage is reported. The U.S. Geological Survey reports a 4.0 magnitude quake struck at 8:16 p.m. on Sept. 24 …
U.S. Investors Sue Volkswagen Over Diesel Emissions Scandal
Volkswagen AG was accused in a lawsuit of scheming to defraud U.S. investors who paid artificially inflated prices for the company’s foreign shares while it cheated on vehicle emissions tests. In what may be the first investor suit over Volkswagen’s …
Der Manouel Taps Wood as Marketing Director in California
Der Manouel Insurance Group in California has named Jim Wood as director of marketing. Wood will work with the DMIG consultants and service staff in finding the carrier solutions for clients. He will also help to develop industry specific programs …
Kentucky Considering Roadside Drug Tests for Drivers
The Kentucky Office of Highway Safety is working with local county officials to evaluate a roadside drug test that could help police address the growing number of drivers who are high behind the wheel. The agency and authorities in Louisville, …
California Gas and Electric Company Seeks to Split Costs on Uninsured Fire
San Diego Gas and Electric is seeking authority to bill its customers $379 million for legal settlement costs left over from 2007 wildfires that destroyed 1,300 homes and killed two people. In filings with state regulators Friday, SDG&E said customers …
Mass. AG: Encompass to Pay for Repair of Vehicles Brought to Unregistered Shops
A subsidiary of Allstate has agreed to pay for the correction of faulty repair work performed on motor vehicles brought to unregistered body shops in Massachusetts, Attorney General Maura Healey announced on Sept. 24. The assurance of discontinuance with Encompass …
Treasury Names 9 to Panel on Private Insurance Market for Terrorism Risk
The U.S. Department of the Treasury today announced the appointment of nine people to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) to spur the private market for terrorism insurance. The ACRSM, authorized by the Terrorism Risk …
Great American Insurance Names Niehaus Property/Casualty Sr. VP
Great American Insurance Group based in Cincinnati, Ohio, has named James (Jim) R. Niehaus was named senior vice president and chief information officer of its Property and Casualty Group. Niehaus joined the Great American in 2007 as divisional assistant vice president …