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14
07, 2016
North Dakota Storms Cause Widespread Crop, Property Damage
Recent storms that have dropped heavy rain and hail across North Dakota have caused headaches for motorists, farmers and homeowners. Weekend storms caused widespread crop and building damage in the Killdeer area, where hail piled up like snowbanks. Wahpeton got …
14
07, 2016
Family of Girl Who Choked on Marshmallow Sue Parents Who Hosted Party
The family of an 11-year-old Massachusetts girl who died after choking on a marshmallow at a friend’s birthday party has filed a wrongful death lawsuit. The lawsuit seeks unspecified monetary damages in the death of Azriel Estabrooks, of Somerset, in …
14
07, 2016
Crop Hail Damage Claims on the Rise in Montana
State officials say damage claims for Montana crops due to hail are nearly double what they’ve been in recent years. The Billings Gazette reports the state Department of Agriculture’s Walt Anseth says farmers submitted 200 insurance claims from January to …
14
07, 2016
Bermuda Insurance Industry Expected to Grow by 10.3% Annually Until 2019
The Bermuda insurance industry is projected to grow at a steady pace as a result of new regulations and consistent growth in external business, such as offshore and captive, according to a new report published by London-based business intelligence company …
14
07, 2016
Insurance Documents in Penn State Sex Abuse Case Released
Penn State coach Joe Paterno was told by a teen boy in 1976 that assistant coach Jerry Sandusky had molested him in the shower but responded that he didn’t want to hear about it and had “a football season to …
14
07, 2016
RenRe Appoints Qutub as CFO, Succeeding Kelly Who Is Retiring
RenaissanceRe Holdings Ltd. announced that Jeffrey D. Kelly, its chief financial officer and chief operating officer, is retiring. Kelly, 62, will be succeeded as CFO by Robert Qutub, effective Aug. 8, 2016, and will remain as chief operating officer until …
14
07, 2016
Allianz Names XL Catlin’s Posner Senior Underwriter for Terrorism Insurance in North America
Allianz Global Corporate & Specialty (AGCS) reported that Adam Posner has been named senior underwriter for Terrorism & Political Violence insurance. Posner will be based in New York and he will report directly to Marcos Garcia Norris, regional practice group …
14
07, 2016
Court Removes GM Bankruptcy Shield on Ignition Switch Claims
General Motors’ 2009 bankruptcy does not shield it from lawsuits over a deadly ignition-switch defect that led to criminal charges against the automaker and prompted the recall of 2.6 million vehicles in 2014, a federal appeals court ruled on Wednesday. …
14
07, 2016
Insurers Expect Lower Returns in Face of Low Interest Rates, Heightened Competition
Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy, according to a new A.M. Best survey. According to the A.M. Best …
14
07, 2016
Climate Change Exposes U.S. Infrastructure to Natural Hazards, Rand Corp. Says
Editor’s note: This is the first of a two-part column. A follow up column will focus on how catastrophe modelers are being asked to create products that take into account potential climate change impacts. A report out this week from …