Archive for August 2016

Guidewire Software Inc., a property and casualty insurance software provider headquartered in Calif., has entered into an agreement to acquire FirstBest Systems Inc., a Bedford, Mass. based provider of underwriting management systems for property and casualty insurers. FirstBest’s product lines … Read More Read more here:: Insurance Journal       

By L.S. Howard London-based insurer Beazley has launched “Cancellation Plus” for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when a specified amount of rainfall occurs at their event. Beazley said it provides … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group (JLT), reports it has added Kathryn Carroll as senior vice president. Based in New York, Carroll will be focused on two specialty areas: Energy, including Heavy Chemicals, and Financial … Read More Read more here:: Insurance Journal       

By L.S. Howard Ping An Insurance (Group) Co., China’s second-largest insurer, said first-half profit rose 18 percent as growth in premiums and banking revenue helped offset the impact of stock-market declines that have hit rivals. Net income climbed to 40.8 billion yuan ($6.2 … Read More Read more here:: Insurance Journal       

A small earthquake rattled a populated swath of Southern California but there were no reports of damage or injury. The U.S. Geological Survey says the magnitude 3.0 quake hit at 12:17 a.m. Tuesday about a mile from Yorba Linda in … Read More Read more here:: Insurance Journal       

By L.S. Howard Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of Columbia. The previously dormant … Read More Read more here:: Insurance Journal       

The Eugene School District in Oregon has been hit with a $2.5 million lawsuit by a former administrator alleging he faced retaliation and pressure to resign after complaining of illegal practices within the district. The Register-Guard reported that most of … Read More Read more here:: Insurance Journal       

An insurance company contesting an arbitrator’s award following the shooting death of a dog by a neighbor has agreed to settle for $100,000. The Seattle Times reported Liberty Mutual settled with the attorney representing Jim Anderson of Eltopia. Anderson’s 7-year-old … Read More Read more here:: Insurance Journal       

More high heat and elevated fire danger is in store for much of Southern California, especially interior areas. The National Weather Service says the scenario is due to an upper-level high-pressure system combined with weakening onshore flow near the surface. … Read More Read more here:: Insurance Journal