Industry News

Provided by InsuranceJournal.com

UK Prime Minister Defers Brexit Vote, Raising Risk of No Deal
December 10, 2018
Theresa May is playing for time. Faced with a humiliating defeat on her Brexit deal, the embattled U.K. prime minister announced to the House of Commons she would defer a vote and return to Brussels to seek “assurances” from European …

Winter Storm Leaves Mess Behind in Southeast, More Snow Expected
December 10, 2018
A massive storm brought snow, sleet, and freezing rain across a wide swath of the South on Sunday – causing dangerously icy roads, immobilizing snowfalls and power losses to hundreds of thousands of people. North Carolina Gov. Roy Cooper strongly … …

Arthur J. Gallagher Acquires Chicago Captive Insurance Consultant
December 10, 2018
Arthur J. Gallagher & Co. has acquired Chicago-based Captive Insurance Company Design and Operations. Terms of the transaction were not disclosed. Formed in 2002 by Clarity Group Inc., Captive Insurance Company Design and Operations is a captive …

Firms Increasing Investments in Michigan Insurance Brokerage, Acrisure
December 10, 2018
Three firms are increasing their investments in Acrisure LLC, the Caledonia, Michigan-based insurance brokerage announced. Acrisure said a group of investors led by funds managed by Blackstone’s GSO Capital Partners and Tactical Opportunities busines …

Arkansas Jury Awards Woman $3M in Suit over Escalator-Mangled Toe
December 10, 2018
Jurors have awarded a New York medical student $3 million after she suffered a gruesome toe injury while riding an escalator at an Arkansas mall. The Arkansas Democrat-Gazette reports that a Pulaski County jury has ruled that 27-year-old Aisha Siddiq …

Iowa Hardware Store Struck by Vehicles in 2 Accidents 5 Days Apart
December 10, 2018
The famous “jog” through the heart of Correctionville, Iowa, suffered a bit of a stumble in recent days. Make that stumbles. Plural. On Nov. 23, and again on Nov. 28, vehicles slid or rolled straight south on Driftwood, failing to …

Penn. High Court Rules Employer Has Duty to Safeguard Employees’ Personal Info
December 10, 2018
The Pennsylvania Supreme Court has ruled that an employer has a legal duty to use reasonable care in safeguarding its employees’ sensitive personal information stored on an internet-accessible computer. This vacates earlier Trial Court and Superior C …

WCRI: Texas Workers’ Comp Medical Costs Per Claim Decreased Since 2014
December 10, 2018
Medical payments per workers’ compensation claim in Texas decreased from 2014 to 2016 for claims with more than seven days of lost time, evaluated as of 2017, according to a recent study by the Workers Compensation Research Institute (WCRI). This … …

Texas Water Board: Cost to Curb Flooding over 10 Years — $31.5B
December 10, 2018
The cost to curtail damaging flooding across Texas over the next 10 years is more than $31.5 billion and state officials are urging lawmakers to adopt legislation meant to end a cycle of “repairing and rebuilding,” according to a series …

Commercial Lines Insurance Prices Up Slightly in 3Q 2018 Over 2017
December 10, 2018
Commercial insurance prices in the U.S. increased by more than two percent in the third quarter of 2018, according to the Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies written d …

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