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17 11, 2020

Tornado in Arkansas on Sunday Injured 4 People, Destroyed Homes

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A tornado in northeast Arkansas on Nov. 15 left four people injured and destroyed buildings and mobile homes, authorities said. The severe weather Sunday was near Romance, an unincorporated community about 23 miles (37 kilometers) west of Searcy, the Arkansas …

17 11, 2020

Columbus, Ohio, Plans to Pay $1M to Family of Woman Killed by Officer

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The city of Columbus, Ohio, plans to pay $1 million to the family of a woman killed by an undercover officer in August 2018, according to documents filed in Franklin County Probate Court. The payout would be the largest in …

17 11, 2020

Oklahoma Places New Restrictions on Bars, Restaurants Amid Virus Surge

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Oklahoma Gov. Kevin Stitt has announced new restrictions on bars and restaurants and plans to require mask wearing inside state buildings, the first state restrictions imposed since the economy reopened in May, as officials attempt to control the surging number …

18 11, 2020

Crest Insurance in Arizona Names Wimmer Personal Lines Manager

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Crest Insurance Group LLC of Scottsdale, Ariz., has added Sarah Wimmer as a personal lines manager. Wimmer will oversee employees within the personal lines department from all seven branches including Tucson, Scottsdale, Sierra Vista, Flagstaff, San Diego, Denver and Ft. …

18 11, 2020

Nearly 90,000 Sexual Abuse Claims Filed Against Boy Scouts in Bankruptcy

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Close to 90,000 sexual abuse claims have been filed against the Boy Scouts of America as the Monday deadline arrived for submitting claims in the organization’s bankruptcy case. The number far exceeds the initial projections of lawyers across the United …

18 11, 2020

Allied World Sells Majority Stake in High-Net Worth Insurer Vault

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Fairfax Financial Holdings and its subsidiary Allied World Assurance Co. have agreed to sell their majority interests in Florida-based high-net worth insurer Vault E&S Insurance Co. to private equity investor Cornell Capital and asset manager Hudson Structured Capital Management. Fairfax, …

18 11, 2020

Despite Warnings and Laws, Drivers Continue to Be Distracted by Phones

By | November 18th, 2020|Uncategorized|Comments Off on Despite Warnings and Laws, Drivers Continue to Be Distracted by Phones

Despite education programs and state laws, phone-based driving distraction is still on the rise—and is likely responsible for far more accidents than widely reported, says a new study from Cambridge Mobile Telematics (CMT). CMT’s analysis of 54 million trips recorded …

18 11, 2020

Gray Surplus Lines Insurance to Launch Dec. 1 in Louisiana

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Metairie, La.-based Gray Insurance Co. is expanding its excess casualty capabilities with the launch of Gray Surplus Lines Insurance Co. on Dec. 1, 2020. Domiciled in Louisiana and with an A.M. Best rating of A- (Excellent), Financial Size Category of …

18 11, 2020

Insurers Are Using Counter-Intuitive Arguments to Escape COVID Liabilities, UK Regulator Tells Court

By | November 18th, 2020|Uncategorized|Comments Off on Insurers Are Using Counter-Intuitive Arguments to Escape COVID Liabilities, UK Regulator Tells Court

Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain’s markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which …

18 11, 2020

HSCM Bermuda Takes Majority Stake in Florida Insurer Southern Fidelity After Merger

By | November 18th, 2020|Uncategorized|Comments Off on HSCM Bermuda Takes Majority Stake in Florida Insurer Southern Fidelity After Merger

After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a majority stake in ownership to Hudson Structure Capital …