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News Center

News – Insurance Journal

Carriers, Reinsurers Under Review as A.M. Best Changes Credit Rating Methodology
Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating agency has put under review. Allstate and American …

POSTED OCTOBER 17, 2017 10:50 AM
Kobe Steel Assesses Extent of Costly, Habitual Data Product Tampering
When cheating becomes habitual, the consequences could be costly. Embattled Kobe Steel Ltd said on Tuesday the U.S. Justice Department is asking the steelmaker to provide documents related to its data falsification scandal. That came after a source with knowledge …

POSTED OCTOBER 17, 2017 8:37 AM
May 2018 Deadline for EU’s Cyber Rule, GDPR, Spurs Corporate Action: Marsh
The upcoming implementation of the European Union’s General Data Protection Regulation (GDPR), which takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a survey conducted …

POSTED OCTOBER 17, 2017 7:38 AM
Markel International Launches Fintech Insurance for Asian Market
Markel International, the specialist insurer, has unveiled a fintech policy offering comprehensive protection for businesses in the financial technology sector in Asia, having successfully launched it in the UK early last year. Simon Moi, senior underwriter and head of professional …

POSTED OCTOBER 17, 2017 6:59 AM
Storm Ophelia Leaves Trail of Destruction in Ireland; Damages Could Reach $1.8B
Irish authorities will begin to clean up and count the cost of the worst storm to hit the country in more than 50 years, after Ophelia left a trail of destruction in its wake. At least three people died in …

POSTED OCTOBER 17, 2017 6:42 AM
Gulf of Mexico Oil Spill Stirs Comparison to BP Disaster
An oil spill in the Gulf of Mexico last week may be the largest in the U.S. since the 2010 blowout at BP Plc’s Macondo well that sank the Deepwater Horizon rig. The Delta House floating production facility about 40 …

POSTED OCTOBER 17, 2017 5:00 AM
Saltzman Opens Third Brightway Agency in Tampa Area
Rich Saltzman, owner of Brightway, The Saltzman Agency in Tampa, Fla., is now a multi-unit owner with Brightway Insurance with the purchase of a Brightway store located in Largo, Fla. The new agency is located at t 1601 East Bay …

POSTED OCTOBER 17, 2017 4:37 AM
Hub International Acquires Assets of Banyan Consulting Group of North Carolina
Hub International Limited has acquired the assets of Banyan Consulting Group, Inc. (Banyan). Terms of the acquisition were not disclosed. With offices in Greensboro, Raleigh and Charlotte, North Carolina, Banyan specializes in employee benefits. Alan Overbey, CEO of Banyan, will …

POSTED OCTOBER 17, 2017 4:33 AM
Florida Workers’ Comp Rate Hearing Scheduled for Oct. 18
The Florida Office of Insurance Regulation (OIR) will conduct a public hearing to discuss the National Council on Compensation Insurance’s (NCCI) proposed overall statewide average workers’ compensation premium decrease of 9.6 percent on Oct. 18 at 1:00 pm EST. The …

POSTED OCTOBER 17, 2017 4:31 AM
When Hurricanes Wreak Havoc: An Insurance Agency’s Perspective
Weathering a storm like Hurricanes Harvey, Irma or Maria requires planning, insurance and grit. In a span of 30 days the devastation from multiple hurricanes impacted millions of American families and businesses. When Harvey was offshore and still setting its …

POSTED OCTOBER 17, 2017 1:19 AM

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