Archive for March 2017

The Hilb Group LLC (THG), a Richmond, Va.-headquartered middle market insurance agency, has acquired Manasquan, N.J.-based American Truck Insurance Exchange LLC (ATIE). The transaction became effective March 1, 2017. ATIE is a property and casualty insurance agency that specializes in … Read More Read more here:: Insurance Journal       

By Don Jergler Los Angeles County prosecutors have refiled criminal charges against a dozen people accused of taking part in a $150 million workers’ compensation insurance fraud. The 12 defendants were originally included in a 2015 grand jury indictment, but on last week … Read More Read more here:: Insurance Journal       

By Don Jergler The California workers’ compensation independent medical review process used to resolve medical disputes found that in 2016 IMR physicians once again upheld about 90 percent of utilization review physician’s modifications or denials of treatment, yet IMR volume climbed 6.5 percent … Read More Read more here:: Insurance Journal       

By Don Jergler The California Department of Insurance has notified the Workers’ Compensation Insurance Rating Bureau of its concern that some insurers may be in violation of Assembly Bill 2883. This law, which went into effect on Jan. 1, excludes an officer or … Read More Read more here:: Insurance Journal       

Hannover Re has agreed to acquire the UK holding company Argenta Holdings plc, which owns Argenta Syndicate Management and Argenta Private Capital as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121. Hannover Re has been a … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson The Travelers Companies Inc. has estimated impact of the recent decision by the UK Ministry of Justice to reduce the discount rate applied to lump-sum bodily injury payouts, known as the Ogden rate, from +2.5 percent to -0.75 percent. Travelers … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson A U.S. judge formally approved Peabody Energy Corp.’s plan to emerge from bankruptcy late Friday after the coal producer struck a settlement with the U.S. government over legacy environmental claims at a gold and metal mining subsidiary. Under a last-minute … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson Lawyers representing tens of thousands of Royal Bank of Scotland (RBS) shareholders have held tentative talks to settle a 1.2 billion pound ($1.5 billion) damages claim over the lender’s 2008 rights issue that was launched shortly before a state bailout, … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson The chairman of China’s privately-held Anbang Insurance Group said at the China Development Forum on Saturday he is bullish on investing in Europe despite great uncertainty over issues including refugees, economic challenges and rising populism. Europe has “very cheap assets” and … Read More Read more here:: Insurance Journal