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News – Insurance Journal

Allianz Global Corporate & Specialty Expands Cargo Coverage
Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has expanded its Project Cargo offering through a direct partnership with its Engineering division. The new collaborative approach will allow AGCS to provide continuous end-to-end coverage for companies managing …

POSTED MAY 24, 2018 5:13 AM
Microsoft to Extend EU Data Privacy Rights Globally. Facebook, Google Not Quite.
Microsoft promised this week to give users worldwide the same data and privacy rights Europeans will get under new regulations there. That’s in contrast to some of its tech rivals, who are hedging on how much privacy protections will change …

POSTED MAY 24, 2018 5:01 AM
How Data Privacy Laws Could Hamper Insurance Underwriting
Complying with the European Union’s new General Data Protection Regulation is leading insurers and reinsurers to dilute the types of data they gather—something that could diminish underwriting quality, A.M. Best said in its latest regulatory assessment. The GDPR kicks in …

POSTED MAY 24, 2018 5:00 AM
J&J Loses Second Talcum Powder Trial
Johnson & Johnson lost a second trial linking baby powder use to deadly asbestos cancer and jurors must next decide whether to punish the company on top of their award of $21.7 million in damages. Jurors in state court in …

POSTED MAY 24, 2018 5:00 AM
Neon Names Ascot’s Butt as Group Underwriting Director
Specialty insurer Neon announced that Theo Butt will be joining the company in September in the newly-created role of group underwriting director for Neon Holdings Limited. Butt joins Neon from Ascot Underwriting where he has worked since 2006, leading property …

POSTED MAY 24, 2018 5:00 AM
North Carolina Judge Awards $4.7M to Family of Man Killed Outside Strip Club
The family of a man shot to death outside a strip club in North Carolina has been awarded nearly $5 million from the operators of the club. The Winston-Salem Journal reported a judge granted a default judgment Monday against John …

POSTED MAY 24, 2018 4:52 AM
4 New Sinkholes Open in Central Florida Retirement Community
Four sinkholes have opened up in a fast-growing retirement community in Florida, including one in front of a home that was abandoned months ago because of an earlier sinkhole. A spokeswoman for the Marion County Sheriff’s Office says the new …

POSTED MAY 24, 2018 4:45 AM
Georgia Business Owner Arrested for Insurance Fraud
A business owner in Gwinnett County, Ga., has been arrested and charged with one count of insurance fraud after presenting a fraudulent certificate of insurance coverage, according to a statement from Georgia Insurance Commissioner Ralph Hudgens. Maria Estela Castillo, 34, …

POSTED MAY 24, 2018 4:38 AM
State Farm to Cut Personal Auto Rates by 3% in Alabama
Approximately 950,000 State Farm Mutual Automobile Insurance Co. personal auto insurance customers in Alabama will see rate reductions starting next month, according to the nationwide insurance company. Thanks to the company’s current financial position and what it called strong business …

POSTED MAY 24, 2018 4:22 AM
Bond Insurer Assured Guaranty Sues Puerto Rico Again Over Turnaround Plan
Bond insurer Assured Guaranty sued Puerto Rico and its federally-appointed oversight board on Wednesday, saying their plan to resuscitate the storm-ravaged, bankrupt U.S. territory violates the U.S. Constitution by stripping creditors of property rights. Assured, which insures $5 billion of …

POSTED MAY 24, 2018 1:03 AM

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