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08, 2016
Officials Say Texas’ Closed Formulary Is Lowering Workers’ Comp Costs
A recent analysis by researchers at the Texas Department of Insurance shows that the Texas pharmacy closed formulary is lowering costs and reducing the use of opioids in the workers’ compensation system, the department announced. “Other states are interested in …
17
08, 2016
Endurance Global Risk Solutions Launches Environmental Liability Products
Endurance Specialty Holdings Ltd. has launched a new series of environmental liability insurance products, offering both primary and excess coverage for single sites or property portfolios. Endurance’s new products include a site environmental impairment liability product, which provides eight different …
17
08, 2016
USGS: Small Quakes Jolts Southern California Suburbs
A small earthquake rattled a populated swath of Southern California but there were no reports of damage or injury. The U.S. Geological Survey says the magnitude 3.0 quake hit at 12:17 a.m. Tuesday about a mile from Yorba Linda in …
17
08, 2016
China’s Ping An Profit Rises 18% in 1st Half on Higher Premiums, Banking Income
Ping An Insurance (Group) Co., China’s second-largest insurer, said first-half profit rose 18 percent as growth in premiums and banking revenue helped offset the impact of stock-market declines that have hit rivals. Net income climbed to 40.8 billion yuan ($6.2 …
17
08, 2016
A.J. Gallagher’s Carroll Joins JLT Re Specialty’s Energy, Financial Teams
JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group (JLT), reports it has added Kathryn Carroll as senior vice president. Based in New York, Carroll will be focused on two specialty areas: Energy, including Heavy Chemicals, and Financial …
17
08, 2016
Beazley Offers Revenue Protection Cover for UK Events Hit by Wet Weather
London-based insurer Beazley has launched “Cancellation Plus” for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when a specified amount of rainfall occurs at their event. Beazley said it provides …
17
08, 2016
Defamation Lawsuit Against Rolling Stone Magazine Likely Set For Trial This Year
A federal judge says a defamation lawsuit against Rolling Stone magazine over a now-debunked article about a rape at the University of Virginia likely will head to a jury trial later this year. The Washington Post reported that U.S. District …
17
08, 2016
Reinsurers May Reassess Cat Exposures When Normal Claims Levels Return: S&P
Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns to normal levels, according to …
17
08, 2016
Litigation Insurance Reimburses Plaintiff Lawyers Losing Cases on Contingency
When David Brill lost a trial for a client who fell off his neighbor’s ladder, it was a rare failure for his three-member Florida law firm. It also cost him $30,000 in expenses since he’d taken the case on contingency, …
17
08, 2016
Watford Specialty Looking to Build Program Business with U.S. Acquisition
Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of Columbia. The previously dormant …