COVID-19 provides a boost to one type of insurance

There are not many green shoots of hope for the insurance industry amid the coronavirus pandemic. Though many insurers have been able to save on reduced car insurance claims, others have faced a barrage of complaints over issues like business interruption cover – even though they may never have offered coverage for pandemics in the […]

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Insurance broker gets retrial after 109-year sentence

A Puerto Rico appeals court has ruled that a former insurance broker convicted of killing his wife will be getting a retrial. Pablo Casellas, son of former US District Court Judge Salvador Casellas, was charged in 2014 with shooting his wife, Carmen Paredes. The alleged murder took place at their home in San Juan, Puerto […]

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Reinsurance sector won’t earn cost of capital in 2020, says Fitch

The global reinsurance sector will fail to earn its cost of capital in 2020 due to the COVID-19 pandemic, according to a forecast by Fitch Ratings. Fitch projected that financial performance would be impacted by mortality claims and losses from event cancelation, business interruption, credit and surety insurance, and financial-market disruption due to the economic […]

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Insurance battle turns out lights in Times Square

New York’s Times Square – known for being littered with brightly colored billboards and advertisements– went dark last night, as business groups staged a protest against denied business interruption insurance claims. The business groups that participated in the lights out protest included the Business Interruption Group (BIG), the Times Square Alliance, and the NYC Hospitality […]

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QBE North America announces new heads

In line with its establishment of a new specialty insurance unit, QBE North America has promoted two executives to new roles. The company has named Steve Gransbury in the role of head of specialty insurance – the new unit QBE North America has created. The insurer has also named Tara Krauss as head of accident […]

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Unlicensed insurance agent arrested | Insurance Business

An unlicensed agent in Hacienda Heights, CA has been detained for allegedly pocketing nearly $500,000 in insurance premium payments. Officials said that Ai Ling Lee, 60, is facing nine felony counts of grand theft. Lee, also known as Linda Lee, is the owner and operator of Jubilee Insurance Services. The firm was issued a cease […]

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“We can’t insure you” | Insurance Business

Even in the midst of a pandemic, Florida remains plagued by the controversial “assignment of benefits” practice, which threatens not only to raise insurance rates in the state, but also to dissuade insurance companies from operating in the area. People’s Trust Insurance (PTI), a homeowners’ insurance company in Deerfield Beach, FL, recently announced that it […]

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MIAA adds Missouri-based agency | Insurance Business

Midwest Insurance Agency Alliance (MIAA), a network of independent insurance agencies across seven states, has announced that Missouri-based Skyline Risk Management has joined the alliance. Skyline Risk Management, headquartered in Independence, Mo., was founded by Daniel Cooper, who also serves as the agency’s president. The agency offers personal and commercial insurance, including home and auto, […]

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Crawford introduces commercial property modification service

Contractor Connection – the contractor managed repair services division of Crawford – has launched a new service aimed at US businesses and commercial facilities that need to safeguard their worksites to better protect employees and customers from the risks of the COVID-19 pandemic. The company is offering a commercial property modification service, which allows property […]

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