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News from Insurance Journal


Channel Title: News – Insurance Journal
Channel Website:

Channel Description: Insurance Journal delivers the latest business news for the Property/Casualty insurance industry

Crest Insurance Group Acquires Troon in Arizona
Crest Insurance Group LLC has acquired Tucson, Ariz.-based Troon Insurance Services. Terms of the deal were not disclosed. Troon was founded by Clebern Best and has been serving the Greater Phoenix area for 20 years. Crest has Arizona offices in Tucson, … more

Chicago’s Chubb Workplace Benefits Promotes Wayland to Sr. VP
Chubb Workplace Benefits in Chicago has promoted Jon Wayland to senior vice president of sales. Wayland has 30 years of insurance industry experience and previously served as vice president of brokerage channel sales. In his new position, Wayland will continue … more

Missouri Insurance Department Recovers over $4M for Consumers
The Missouri Department of Insurance helped consumers who filed complaints against their insurance company receive an additional $4 million in claim payments in the first half of 2017. Health insurance generated the most complaints in the first half of 2017 … more

Louisiana’s Centauri National Insurance Earns Demotech ‘A’ Rating
Louisiana-based Centauri National Insurance Co. has earned a Financial Stability Rating (FSR) of A, Exceptional, from Demotech Inc. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of … more

Louisiana Plans Multiple Storm Mitigation Projects
Louisiana will spend nearly $277 million in federal cash it received after last year’s floods to fortify communities against future disasters, mainly through drainage improvements and buyouts of flood-prone properties. Gov. John Bel Edwards is traveling the state to announce … more

Houston’s Dean & Draper Promotes Smith to Leadership Team
Houston-based Dean & Draper Insurance Agency LP has promoted Stephen B. Smith to executive vice president, chief operating officer and limited partner over its group of agencies. For the past year Smith has served as executive vice president of Soules … more

Ohio County Spends $200K on Cyber Insurance
The Ohio county that includes the capital city of Columbus is spending $200,000 on an insurance policy to cover cyberattacks. The Columbus Dispatch reports Franklin County’s $10 million policy will provide protection for the increasing worldwide threat. The Franklin County … more

Firefighters Gain Ground on California Fire
Firefighters are bracing for the possibility of dry lightning as they battle a stubborn blaze that has scorched nearly 120 square miles near California’s Yosemite National Park. The wildfire burning in the Sierra Nevada foothills was 50 percent contained Monday. … more

$3.1M Sex Abuse Suit Filed by Former Altar Boy Against Oregon Church
A former altar boy at a Portland, Ore. church has filed a $3.1 million lawsuit against the church contending he was repeatedly sexually abused by a choir director in the early 1960s. The Oregonian/OregonLive reported that the Portland man now … more

Colorado Wildfire Evacuation Order Lifted in Foothills
Authorities have lifted evacuations prompted by a wildfire burning near a heavily populated area in Colorado. The fire burned almost half a square mile of brush-covered foothills south of Fort Collins, triggering an evacuation south of Horsetooth Reservoir that was … more

Southern California Agent Charged for Targeting Injured Workers’ Benefit Funds
Tom Fallon, 63, of Long Beach, Calif., is being arraigned today in Superior Court in Long Beach on multiple felony charges including theft by embezzlement and money laundering. Fallon’s daughter, Christina Fallon, 28, also of Long Beach, is scheduled to … more

UK Lawmakers Eye Options for Insurers, Banks to Keep Post-Brexit Access to EU
British lawmakers launched an inquiry on Monday into how banks and insurers could maintain access to the European Union market after Britain leaves the bloc in 2019. The House of Lords financial affairs committee said it will examine how regulation … more

Q2 Insurtech Funding Rises to $1B: Willis Towers Watson/CB Insights Report
Insurtech funding volume hovered close to $1 billion in the 2017 second quarter, a result nearly 150 percent larger than the same period a year ago, according to a quarterly report on the sector from Willis Towers Watson and CB … more

UK Faces Future of Record-Breaking Wet Winters, Floods: New Climate Models
Britain faces a future of record-breaking wet winters, potentially leading to more of the widespread flooding seen in recent years, according to new modeling that incorporates changing climate patterns. England and Wales now have a 34 percent chance of record … more

Experts Examine Quake Damage on Greek Island of Kos
Crews of experts began examining the damage to cultural monuments and infrastructure on the eastern Greek island of Kos on Saturday, a day after a powerful earthquake killed two tourists and injured nearly 500 others in the Aegean Sea region … more

Brit Global Specialty Assumes Renewals for Legacy Catlin’s U.S. Yacht Business
Brit Global Specialty USA  said it has reached an agreement for the exclusive renewal rights for part of XL Catlin’s directly written yacht portfolio. The agreement relates to legacy policies written by Catlin, prior to its acquisition by XL. BGSU … more

Markel Names HDFC Ergo’s Mathur to Lead Entry into India with Lloyd’s Platform
Specialist insurer Markel International has appointed Deepika Mathur to lead its entry into the Indian market. Capacity will be provided by Markel’s Syndicate 3000 at Lloyd’s and business will be written through the Lloyd’s India platform, based in Mumbai. The business … more

AIR Worldwide Launches Severe Thunderstorm Model for Australia
Catastrophe risk modeling firm AIR Worldwide announced it has released a severe thunderstorm model for Australia, which captures all three sub-perils – hail, tornado and straight-line wind – to help companies assess and manage severe thunderstorm risk. The AIR Severe … more

Man Indicted in Scheme to Sell Paintings from Massachusetts Art Heist
A Boston federal jury has indicted a West Virginia man on charges he tried to sell paintings he did not have access to and falsely claimed were stolen in the largest art heist in U.S. history. Prosecutors allege that 47-year-old … more

Maryland Plans Lawsuit Against EPA Under Clean Air Act
Republican Gov. Larry Hogan’s administration announced plans Thursday to sue the Environmental Protection Agency, if the agency doesn’t respond to Maryland’s request to make sure power plants in neighboring states use pollution controls. Ben Grumbles, secretary of the Maryland Department … more

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