Industry News

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TWIA Claims Funds Drop 14.3% for 2019 Hurricane Season

Jun 25, 2019 The Texas insurer of last resort has $4.2 billion on hand to pay claims resulting from the new hurricane season, down 14.3% from 2018. The Texas Windstorm...

Broker Ed Gains Regulatory Approval in Bermuda

Jun 25, 2019 Reinsurance, wholesale and specialty broker Ed said it won regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda is...

AHIP Opposes Trump Order to Compel Disclosure of Insurer Price Breaks

Jun 25, 2019 President Donald Trump has signed an executive order — opposed by industry representatives — that would force the disclosure of secret...

AM Best Affirms Credit Ratings for La Colonial, S.A. Compañía de Seguros

Jun 25, 2019 AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of La Colonial, S.A....

Insurance Journal

Transatlantic Underwriters Names Waltenburg Vice President in West

Jun 25, 2019 Transatlantic Underwriters has named Colby Waltenburg vice president. Waltenburg will be coordinating the opening of a new office for TAU on the West Coast....

Opioid Lawsuits Unlikely to Top Tobacco Settlements

Jun 25, 2019 An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for...

2 More Illinois Counties Receive Flooding Disaster Proclamations

Jun 25, 2019 Illinois Gov. J.B. Pritzker has issued disaster proclamations for two more counties affected by flooding. Pritzker added Knox and Henry counties in western...

Officials, Petroleum Council Tout New North Dakota Oilfield Safety Program

Jun 25, 2019 The North Dakota Petroleum Council and state officials say a new oilfield safety training program, 18 months in the making, will be a time-saver for...

Claims Journal

Special Report: How Judges Added to the Grim Toll of Opioids

Jun 25, 2019 WELCH, West Virginia — The opioid epidemic that has so far killed half a million Americans is routinely blamed on greedy drug makers, feckless doctors and lax...

Lloyd’s of London Suspends Top Broker Who Sent Harassing Email

Jun 25, 2019 Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and...

The Future Looks Terrible for U.S. Nursing Home Costs

Jun 25, 2019 The results of a six-year study by Georgetown University Medical Center revealed just how fast U.S. nursing home prices have been increasing all across America. And the...

Purdue’s Sackler Family Must Face Opioid Suits in New York

Jun 25, 2019 The billionaire owners of Purdue Pharma LP must face a New York lawsuit claiming they triggered the U.S. opioid epidemic, a judge ruled, handing an early victory to...