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Pennsylvania Insurance Department Approves Mid-Year Workers’ Comp Filings
The Pennsylvania Insurance Department has approved two mid-year workers’ compensation loss cost filings, effective January 1, 2019. The fillings are from the Pennsylvania Compensation Rating Bureau (PCRB), an independent bureau, which makes filings to the Insurance Department on behalf of …

POSTED DECEMBER 17, 2018 3:02 PM
Premium Finance Firm National Partners to be Acquired by Digital Lender WebBank
Salt Lake City-based digital lender WebBank has agreed to acquire Denver-based National Partners, a national insurance premium finance company and subsidiary of MLF Financial Group. This is the first foray into insurance premium finance for WebBank, a national issuer of …

POSTED DECEMBER 17, 2018 2:58 PM
IICF Raises Nearly $1.3M for N.Y. Nonprofits, Honors HUB International Limited
The Insurance Industry Charitable Foundation (IICF) has announced that nearly $1.3 million was raised on Wednesday, December 12, at its 12th annual Northeast Benefit Dinner to fund the IICF Northeast Division’s Community Grants Program. This includes nearly $65,000 raised through …

POSTED DECEMBER 17, 2018 2:57 PM
JLT Re Partners with Insurtech for Auto Insurance MGA Pact
Reinsurance broker JLT Re North America is partnering with Pact Insurance, a personal auto insurtech company, to develop digital insurance products for mobility risks. Pact is a managing general agency headquartered in San Francisco and currently offers low cost, on-demand …

POSTED DECEMBER 17, 2018 2:33 PM
Maine Company Whose Worker Died from Roof Fall Faced Safety Fines
The Maine company that employed a roofer who fell to his death has faced several fines lodged by federal safety authorities. The Portland Press Herald reports that Purvis Home Improvements has been ordered to pay over $44,000 in fines since …

POSTED DECEMBER 17, 2018 2:17 PM
Doubts About Hotel Industry Cyber Security Pre-Date Marriott Hacking
Long before Marriott International Inc. disclosed a massive security breach, the hotel industry had earned the dubious reputation as a hospitable place for hackers. Thieves have skimmed credit cards, looted loyalty accounts, and mounted complex schemes to trick clerks into …

POSTED DECEMBER 17, 2018 2:08 PM
U.S. Drivers Sue Hyundai, Kia Over Car Engine Fires
Hyundai Motor Co. and Kia Motors Corp. were sued by U.S. drivers over an alleged defect that could cause certain engines to catch fire, adding pressure on the South Korean automakers being probed by U.S. authorities. More than 350 consumer …

POSTED DECEMBER 17, 2018 1:56 PM
EU Regulator Says Insurers Pass Stress Tests
Europe’s biggest insurers successfully withstood the latest tests of their ability to cope with severe market shocks, the European Union’s insurance watchdog said on Friday. The European Insurance and Occupational Pensions Authority (EIOPA) published results of this year’s stress test …

POSTED DECEMBER 17, 2018 1:47 PM
Allstate’s Shares Wilt Under Weight of Wildfire Losses
Allstate Corp. tumbled for nine straight days, the longest string of losses since 2001, as coverage costs from the deadliest fires in California’s history are tallied. The company seemed to have “out-sized exposure” to the location of the blazes, Wells …

POSTED DECEMBER 17, 2018 1:33 PM
Drugmaker Eyes Reinsurance to Lower Costs, Reports Financial Times
Swiss drugmaker Novartis AG is considering working with reinsurers to provide alternative financing options for life-saving drugs, potentially saving substantial healthcare costs, Financial Times reported on Sunday. Among the options proposed includes a “reinsurance model in which a third party …

POSTED DECEMBER 17, 2018 1:28 PM

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