15 11, 2019

City and Union Officials to Consult on Philadelphia Refinery Sale Process

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A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on the East Coast, under which city officials and a trade union will consult on the matter. …

15 11, 2019

Conn. Supreme Court Finds Insurers Not Liable for Crumbling Foundations

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Insurers are not liable for crumbling foundations caused by defective concrete unless the home is on the verge of collapse, the Connecticut Supreme Court ruled. The decision will likely amplify public pressure for a government solution. Thousands of homes in …

15 11, 2019

Hartford InsurTech Hub Welcomes Top Startups for 2020

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Hartford InsurTech Hub, powered by Startupbootcamp, has announced its 2020 cohort of startups. The past two cohorts have consisted of ten startups, and with the help of the Hub’s partners, the accelerator program decided to select 11 companies to relocate …

15 11, 2019

Pioneer Underwriters Decides to Put Lloyd’s Syndicate 1980 into Run-off

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Pioneer Underwriters has decided to put its Lloyd’s Syndicate 1980 into run-off after completing an examination of “strategic and capital options for 2020.” Pioneer said it will be working with Asta, the managing agency of Syndicate 1980, to ensure a …

15 11, 2019

Best’s Report Sees Identity Theft Becoming Standalone Personal Cyber Insurance

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The role of identity theft insurance as a supplemental product could evolve as personal cyber risks become more of a threat as technology proliferates further into individuals’ lives, according to a new A.M. Best report. In its current form, identity …

15 11, 2019

AGCS Appoints Williams as Global Head of Financial Lines, Replacing Poncin

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Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance unit of Allianz Group, has appointed Shanil Williams as global head of Financial Lines, effective Nov. 15, 2019. He succeeds Bernard Poncin, who will leave AGCS to pursue other opportunities …

15 11, 2019

Supreme Court Weighs Legal Standard in $20B Racial Bias Claim Against Comcast

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U.S. Supreme Court justices on Wednesday expressed sympathy toward allowing comedian and producer Byron Allen to pursue his racial bias lawsuit accusing cable television operator Comcast Corp. of discriminating against black-owned channels. Over the course of an hour of oral …

15 11, 2019

For 2020, Expect Biggest Commercial Insurance Hikes in Years: Willis Towers Watson

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North American commercial insurance buyers will face sizable price increases in 2020, across most lines of insurance, according to insurance broker Willis Towers Watson’s 2020 Insurance Marketplace Realities. While the report finds that capacity is available in all but the …

15 11, 2019

Allstate’s Armstrong Takes Helm as Casualty Actuarial Society President

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Steven D. Armstrong, FCAS, an insurance industry veteran with more than 25 years of experience, has begun his term as the president of the Casualty Actuarial Society (CAS). Armstrong has been actively involved with the CAS for two decades, having …

15 11, 2019

Insurer Brit Ltd. Launches E-trading Cyber Portal

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Brit Ltd., the London-based insurer, announced it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium sized enterprises (SMEs) in both regions. The portal will give brokers an agile, user-friendly …