Archive for May 2017

By Andrew G. Simpson Insurance groups breathed a sigh of relief this week after legal scholars delayed a vote on a controversial restatement of liability insurance law. As reported by Insurance Journal, the American Legal Institute (ALI) on Tuesday formally decided to postpone a … Read More Read more here:: Insurance Journal       

By Don Jergler A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said. Much of the cost would be offset by existing … Read More Read more here:: Insurance Journal       

By Don Jergler A magnitude 3.0 earthquake hit the island of Hawaii, the U.S. Geological Survey confirmed. The earthquake hit at 5:59 p.m. local time on Monday. Its epicenter was 12 miles (20 kilometers) north of Pahala, a town with a population of … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The investigation — led by the Attorneys … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson The U.S. Labor Department will implement its fiduciary rule on June 9 with no further delays, U.S. Labor Secretary Alexander Acosta said on Tuesday. The department’s rule, which requires brokers offering retirement investment advice to act in the best interest of their … Read More Read more here:: Insurance Journal       

By Don Jergler Swiss Re Capital Markets Corp. has successfully structured and placed the issuance of $925 million of insurance-linked securities for the California Earthquake Authority. Swiss Re Capital Markets underwrote the transaction through two classes of principal-at-risk variable rate notes issued by … Read More Read more here:: Insurance Journal       

By Don Jergler Portland, Ore.-based Elliott, Powell, Baden & Baker has partnered with ISU Insurance Agency Network. EPB&B offers business and personal insurance. San Francisco, Calif.-based ISU Network is a organization with 180 mid-sized agencies in 30 states. Member agencies maintain local ownership. Read More Read more here:: Insurance Journal       

XL Catlin said it is expanding its global insurance programs and captive business with the appointment of Steven Bauman as head of its global programs and captive practice in North America. Bauman will provide technical support across business lines in structuring global captive programs, ensure … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson For Kris Hagerman, chief executive of UK-based cyber security firm Sophos Group Plc, the past week could have been bad. The WannaCry “ransomware” attack hobbled some of its hospital customers in Britain’s National Health Service, forcing them to turn away … Read More Read more here:: Insurance Journal