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Industry News

Final Insured Losses for Europe’s Storm Friederike/David Estimated at €1.7B: PERILS

The final loss estimate for Extratropical Cyclone Friederike, also known as David, reached €1.672 Billion ($1.906 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This compares to the previous PERILS loss report of €1.675 …
Failure to Mitigate Climate Change, Cyber Risks at Top of Global Risks: WEF

The failure to tackle climate change and extreme weather events are the most threatening global risks this year, according to the World Economic Forum. Inability to mitigate or adapt to climate change leapfrogged several places on the list as the …
New Zodiac Insurance D&O Policy Targets Small Global Financial Institutions

Lloyd’s broker AFL Insurance Brokers Ltd’s independent USA managing general agent subsidiary Zodiac Insurance Services has launched directors and officers (D&O) capacity for the small global financial institutions (Small FI) market. Partnering with underwriters at Lloyd’s, Zodiac has created a …
North Carolina Businesses Without Workers’ Comp Coverage Fined $3.2M

The North Carolina Industrial Commission’s Compliance and Fraud Investigative Division collected more than $3.2 million in penalties and issued 289 criminal charges at the end of the first two quarters of Fiscal Year 2018-19 as it continues to identify businesses …
South Carolina Lawmakers Try to Legalize Medical Marijuana, Again

South Carolina lawmakers are once again introducing legislation to legalize marijuana for treatment of critically ill patients in the state, making another go at a debate that has gradually made progress in this deeply red state in recent years. Sen. …
RLI Promotes Kirk, Schick Within Surety Group

Peoria, Illinois-based RLI Corp. has promoted Bob Kirk and Brian Schick within its Surety group. Kirk, assistant vice president, Commercial Surety, has been promoted to vice president, Commercial Surety. Kirk succeeds Martha Weissbaum, who recently retired from RLI after 18 …
Kentucky Distillery Employee Dies After Falling from Facility Walkway

Authorities say a distillery employee in Kentucky died after falling from a suspended walkway at the facility. The Daviess County coroner’s office said Tuesday that an autopsy revealed 44-year-old Dennis Layman of Owensboro died of blunt force trauma after falling …
Trump EPA Chief Tells Senators Climate Change ‘Not the Greatest Crisis’

U.S. President Donald Trump’s new pick to run the Environmental Protection Agency told lawmakers on Wednesday he does not believe climate change is a major crisis, and would continue to undo Obama-era emission limits if confirmed. Trump nominated EPA Acting …
Research Suggests Marijuana Users More Likely to Be Fired or Laid Off

As U.S. rates of marijuana use continue to rise, workers who use marijuana may be at higher risk of losing their jobs. Job loss may be an overlooked social cost of marijuana use, according to the new research by Cassandra …
Markel Faces Investor Lawsuit Over CATCo Loss Reserves

Markel Corp. is facing is class action shareholder lawsuit over reserve statements by its investment management unit that are being investigated by U.S. and Bermuda authorities New York law firm Bragar Eagel & Squire said it filed the class action …

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