Trump makes 'important points' about how China must change, billionaire money manager says

The economic relationship between the U.S. and China needs to change, says Apollo co-founder Tony Ressler.

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Lawyers Professional Claims Grow in Severity, Complexity, Cost

The number of legal malpractice claims resulting in larger multimillion dollar payouts – as well as the dollar amounts involved – has surged in the past year, with at least two settlements exceeding $250 million. That’s according to the latest …

from News – Insurance Journal http://bit.ly/2HKT46W

Cramer: Stocks would be lower if Wall Street thought Trump's Mexico tariffs would happen

CNBC's Jim Cramer says the market would be "down much more" if traders though the president were really serious on Mexico.

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Flying Is Less Safe Than It Was But It’s Not All Boeing’s Fault

Flying has become deadlier than it has been for years and it’s hard to pin it solely on Boeing Co.’s infamous 737 Max. Aircraft accidents occurred more frequently in almost every region worldwide in 2018 as the death toll climbed …

from News – Insurance Journal http://bit.ly/2KiPORZ

New Hampshire Sues 3M, DuPont, Other Chemical Companies

New Hampshire has sued eight companies including 3M and the DuPont Co. for damage it says has been caused by a class of potentially toxic chemicals found in pizza boxes, fast-food wrappers and drinking water. The substances – known collectively …

from News – Insurance Journal http://bit.ly/2KgJ2wb

Aon to Expand Partnership with CoverWallet for Small-Medium Business Market

Global insurance broker Aon is partnering with digital insurance platform CoverWallet to serve clients in Australia. The parties also said they are in the process of expanding this partnership to additional geographies, including the United States. The Aon platform run …

from News – Insurance Journal http://bit.ly/2KfpAzJ

Governor Cuomo Says New Commission Will Tackle Shoreline Flooding

New York Governor Andrew Cuomo is creating a commission to find new ways to harden Lake Ontario’s shoreline as federal officials warn this year’s flooding will be worse than 2017’s records. The Democrat said Wednesday that it appears high water …

from News – Insurance Journal http://bit.ly/2wvZmAW

Family of Maine Roofer Who Fell Files $2.5M Wrongful-Death Suit

The family of a Maine roofer who died in a fall has filed a $2.5 million wrongful-death suit against his employer. The Portland Press Herald reports that Alan Loignon’s family says Saco-based contractor, 44-year-old Shawn D. Purvis, discouraged the use …

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Here are the biggest analyst calls of the day: Uber, Kraft Heinz & more

Here are the biggest calls on Wall Street on Friday

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Philippine’s Yuchengco Offers Single App for Services from Insurance to Funerals

Yuchengco Group of Cos. is planning to launch a mobile app offering the full range of the Philippine family firm’s services — from insurance to holiday packages to funerals — using payment facilities from Yuchengco’s Rizal Commercial Banking Corp. The …

from News – Insurance Journal http://bit.ly/2XhPkPP

Constellation Brands' stock drops 6% as new tariffs could raise Corona, Modelo import costs

The drop put the maker of Mexican beers like Corona and Modelo on track for its biggest one-day loss since Jan. 9, when it fell 12.4%.

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Allianz Expansion Plan Includes $1 Billion for Insurers

Allianz SE agreed to buy two insurance businesses in the U.K. in deals valued at a combined $1 billion, transforming the firm into the second-biggest general insurer in the country. The Munich-headquartered company agreed to acquire the general-insurance business of …

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Surprise Mexican tariffs hurt China agreement chances: 'How can you trust Trump to honor a deal?'

Trump's surprise vow to slap new tariffs on Mexican goods undermines the chance of a trade resolution with China.

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Opponents of Airport Expansion Plan to Use Drones to Close London’s Heathrow

Climate activists from Extinction Rebellion have drawn up plans to use drones to shut London’s Heathrow Airport this summer in a campaign to stop the construction of a third runway at Europe’s busiest airport, the group said. The internal proposal, …

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Facebook Rebuffed by Irish Supreme Court Over Data Transfer Case Referral

The European Court of Justice (ECJ) will hear a landmark privacy case regarding the transfer of EU citizens’ data to the United States in July, after Facebook’s bid to stop its referral was blocked by Ireland’s Supreme Court on Friday. …

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Sensex, Nifty fall from record highs ahead of GDP data Sensex, Nifty fall from record highs ahead of GDP data

On BSE, the advance-decline ratio stood at 2:3, meaning for every two stocks that rose, three fell.

from MF-Economic Times http://bit.ly/2XibSjo
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DARQ Power: 4 key questions for your organization

In order to navigate and thrive in a post-digital era, insurance companies will need to look beyond their organization’s current structures with a view toward shaping how governments, business partners, employees and individuals interact with the world using technology. To do so, they will need to consider every digital tool available to them––including those that…

DARQ Power: 4 key questions for your organization

from Accenture Insurance Blog https://accntu.re/2HO37s7

Automaker shares plunge after Trump's surprise Mexico tariffs, GM shares fall 5%

The largest U.S. automaker stocks dropped after President Donald Trump threatened to put a 5% tariff on Mexican imports.

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Bond funds in India embrace duration as rate cut bets intensify Bond funds in India embrace duration as rate cut bets intensify

The yield touched 7.12 per cent on Wednesday, the lowest since December 2017.

from MF-Economic Times http://bit.ly/2EH4Ugn
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Costigan Joins Alliant Insurance Services in Miami

Alliant Insurance Services has added Jamie Costigan to the firm as senior vice president. Costigan will provide risk management services for healthcare clients across the U.S. Costigan joins Alliant with knowledge of the healthcare industry, working with a range of …

from News – Insurance Journal http://bit.ly/2W5Ohkq

4 Months of Mississippi Delta Flooding Taking a Toll on Farmers, Residents

Larry Walls should have been out working in his fields last week. Instead, his John Deere tractor is parked on high ground, just beyond the reach of the ever-encroaching floodwaters in the southern Mississippi Delta. Four months into what seems …

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Sensex reclaims 40,000; Nifty tops 12,000 level ahead of GDP numbers Sensex reclaims 40,000; Nifty tops 12,000 level ahead of GDP numbers

Trade war worries that plagued other global peers took a back seat.

from MF-Economic Times http://bit.ly/2JMqEMb
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Congress Renews Flood Insurance Program Until June 14

Having failed several times to pass a $19 billion disaster aid bill with a federal flood insurance reauthorization provision by unanimous consent, the House of Representatives managed on Thursday to pass a separate two-week extension of the federal flood insurance …

from News – Insurance Journal http://bit.ly/2EGzfvG

California Utility Regulator OKs PG&E’s Wildfire Mitigation Plan

A Wildfire Mitigation Plan submitted by Pacific Gas & Electric Corp. was approved by the California Public Utilities Commission on Thursday. The state Legislature in 2018 enacted Senate Bill 901 mandating action by the CPUC on Wildfire Mitigation Plans submitted …

from News – Insurance Journal http://bit.ly/2HMHto7

Unusual If Not Unprecedented: 500 Tornadoes in 30 Days

The U.S. has been rocked by 500 tornadoes in the past 30 days with a trapped jet stream in the atmosphere “stuck in neutral,” according to the U.S. Storm Prediction Center. In the past seven decades, only 2003, 2004, 2008 …

from News – Insurance Journal http://bit.ly/2YZpekZ

Here's why China's trade war threat to restrict rare earth minerals is so serious

About 35% of global reserves are in China, the most in the world, and the country is a mining machine, producing 70% of total rare earths in 2018.

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Only five Dow stocks have gained in May as trade war drags on

Just five Dow components were poised for May gains Thursday afternoon, a reflection of the effect the trade war is having on Wall Street.

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Severe Weather Impacting Oklahoma’s Canola, Wheat Crops

Oklahoma’s canola and wheat harvests could be smaller and come later than expected due to recent severe weather, agriculture officials said. Josh Lofton, the state’s agriculture secretary and Mike Schulte, executive director of the Oklahoma Wheat Commission, said that growers …

from News – Insurance Journal http://bit.ly/2WfhfmO

Flooding Persists as River Nears Crest in West Arkansas

The Arkansas River neared a historic crest on May 29 in Arkansas’ second-largest city, but officials said the levee system was “performing admirably” from the rush of water coming downstream from rain-soaked Oklahoma and Kansas. Still, the river was nearly …

from News – Insurance Journal http://bit.ly/2XeRjo7

Arkansas Imposes 60-Day Insurance Cancellation Moratorium for Flood Victims

The Arkansas Insurance Department announced a 60-day moratorium on the cancellation/non-renewal of policies for the non-payment of premiums by Arkansans affected by the flooding of the Arkansas River under Gov. Asa Hutchinson’s May 24 declaration of a State of Emergency …

from News – Insurance Journal http://bit.ly/2Wyc40P

State of Emergency Declared in Ohio; Insurers Asked to Allow Deferred Payments

Ohio Insurance Director Jillian Froment has issued a bulletin to all insurance companies and other entities transacting the business of insurance in the state to allow leeway to insurance consumers in counties covered by a state of emergency declaration resulting …

from News – Insurance Journal http://bit.ly/2Qxi5W4

Insurance Paid Out $162K After Fuel Theft from Louisiana School System

A state audit says a Louisiana school bus mechanic allegedly stole about $200,000 in fuel by using a school board fuel card to fill log truck tanks. The audit says a phishing scam cost the Union Parish School Board another …

from News – Insurance Journal http://bit.ly/2MjCxvh

Governor: Care for Injured Drivers in Michigan Will ‘Still Be There’ After Insurance Overhaul

Michigan Gov. Gretchen Whitmer on May 28 defended a pending overhaul of the state’s auto insurance law, saying treatment for injured drivers will “still be there” if they forego what has been a one-of-its-kind, mandatory unlimited personal injury protection benefit. …

from News – Insurance Journal http://bit.ly/2I4G9fa

Milwaukee County Settles Jail Death Lawsuit for Nearly $7M

Wisconsin’s Milwaukee County paid nearly $7 million to settle a lawsuit from the family of a man whose dehydration death in jail was described by his attorneys as torture. Attorneys for 38-year-old Terrill Thomas called the settlement one of the …

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Ron Insana: There's much more this market should be worried about than just the trade war

So, its not just the trade war that is providing bricks in the market's "wall of worry." It's many things all occurring in the run-up to the 2020 presidential elections in the U.S.

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Colorado Governor Signs Bill Increasing Immigrant Driver’s License Locations

A bill increasing the number of locations where Colorado residents who are in the country illegally can obtain driver’s licenses has become law. Gov. Jared Polis signed the legislation on Tuesday. Farming, dairy and other business groups backed the initiative, …

from News – Insurance Journal http://bit.ly/2KeDi5S

Colorado Man Files Negligence Suit in Deadly New Mexico Bus Crash

A Colorado man who survived a bus crash in New Mexico that killed three people including his wife last July has filed a lawsuit. Ramon Grajeda-Beltran and Olga Hernandez-Beltran of Rocky Ford were passengers on a commercial bus traveling from …

from News – Insurance Journal http://bit.ly/2WAIiIA

The board of CBS is preparing for deal talks with Viacom: Sources

The merger talks between the two are expected to begin in mid-June, though discussions could begin even sooner, the sources told CNBC.

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Wall Street likes Cisco as the tech stock 'safe haven' from the trade war

J.P. Morgan is the latest Wall Street firm to recommend Cisco Systems.

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Digital Tools Helping Captive Insurers Grow Their Third-Party Business: Marsh

The number of captive insurance companies writing third-party business is growing at double-digit pace as the digital era expands the ways that organizations can provide and service insurance, according to global insurance broker Marsh. Technology advances, including mobile applications and …

from News – Insurance Journal http://bit.ly/2ELYxZw

New Loan Program Could Help Connecticut Homeowners with Foundation Woes

Connecticut lawmakers are working to provide additional assistance to homeowners impacted by the crumbling foundations problem. The House of Representatives last week advanced a bill to the Senate, by a vote of 131-7, requiring the Connecticut Housing Finance Authority to …

from News – Insurance Journal http://bit.ly/2Wd3ipN

'Bond king' Gundlach believes bond yields may have bottomed for now

DoubleLine CEO Jeffrey Gundlach believes the recent slump in long-term U.S. government debt yields may finally be over.

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Gamblers in Pennsylvania Claim Illegitimate Decks of Cards Lost Them $250K

Two gamblers have filed a federal lawsuit against a Philadelphia casino claiming they lost $250,000 because of faulty shuffling machines and illegitimate decks of cards. The lawsuit against SugarHouse was filed in Philadelphia on Wednesday and accuses the casino of …

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Marsh FinPro’s Hopper Joins Starr to head Financial Institutions Practice for UK and Europe

Starr Insurance Companies today announced the appointment of Andrew Hopper as head of Financial Institutions for the UK and Europe. Hopper will be responsible for the strategy and profitable growth of the Financial Institutions division. Prior to Starr, Hopper was …

from News – Insurance Journal http://bit.ly/2wzxDzf

Damage to Homes, Large Hail Reported in Pennsylvania After Severe Storms

Severe storms swept through Pennsylvania and several tornadoes were reported, causing damage to some homes but no immediate reports of injuries. Emergency dispatchers in eastern Pennsylvania’s Berks and Chester county reported roof damage and some partial collapses in Caernarvon Township, …

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Three Convicted in New York City Fake Accident Fraud Scheme

Three men have been convicted in a trip-and-fall scheme that recruited low-income people and the homeless to defraud New York City-area businesses and their insurance companies. Prosecutors say a federal jury in Manhattan Tuesday found Bryan Duncan, Robert Locust and …

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China makes next move in trade war, reportedly halting US soy purchases

China has halted purchases of American soybeans in another chess move in the escalated trade war, according to a Bloomberg report.

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Here are the biggest analyst calls of the day: Tesla, Apple, Citi, Verizon & more

Here are the biggest calls on Wall Street on Thursday

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India’s Ambani Weighs Selling Reliance General Insurance to Reduce Debt

Beleaguered Indian tycoon Anil Ambani is in talks to sell his group’s general insurance unit to a shadow lender, people familiar with the matter said, as he seeks to reduce debt. Reliance Capital Ltd., controlled by Ambani, is discussing the …

from News – Insurance Journal http://bit.ly/2QyS3BL

Debt Insurance Staging a Comeback with Investors As Distressed Situations Increase

Corporate debt insurance that fell out of favor after the financial crisis is returning to vogue as default rates rise and a series of high-profile failures pay off for short sellers. Credit-default swaps trading increased 7% this year, with average …

from News – Insurance Journal http://bit.ly/2MjUARR

Insurance customers enjoy digital but hanker for human attention

Insurance customers are responding enthusiastically to the multi-channel distribution networks introduced by Manulife, Ping An and other innovative carriers. They enjoy the convenience of being able to access their provider, quickly and easily, using a variety of digital and physical channels. However, successful multi-channel networks require more than just easy access. What’s also essential is…

Insurance customers enjoy digital but hanker for human attention

from Accenture Insurance Blog https://accntu.re/2WeLfiJ

Judge Dismisses Investors’ Claim Cboe Allowed Manipulation of Stock Market ‘Fear Gauge’

A federal judge on Wednesday dismissed a lawsuit in which investors accused the parent of the Chicago Board Options Exchange of letting anonymous traders rig Wall Street’s main gauge of future stock market volatility at their expense. U.S. District Judge …

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Barclays says Tesla is 'stalling as a niche automaker' and cuts its price target to $150

Barclays lowered its price target on Tesla by 22% on Thursday.

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8 Considerations for Buyers and Sellers of Insurance Agencies

Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger agency transactions, there are …

from News – Insurance Journal http://bit.ly/2Wvqfnq

7 U.S. Exchanges Face Investors’ Claims for Favoring High Frequency Traders

A Manhattan federal judge has ordered seven U.S. stock exchanges to face proposed class-action claims that they defrauded ordinary investors by quietly enabling high-frequency traders to trade faster and at better prices. U.S. District Judge Jesse Furman on Tuesday said …

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Officials Investigating 3 Intentional Fires Set in Mississippi City

Fire officials in a Mississippi city say three recent fires in the same neighborhood were intentionally set. Vicksburg Fire Chief Craig Danczyk tells WLBT a vacant apartment building went up in flames on Saturday. The second fire occurred at a …

from News – Insurance Journal http://bit.ly/2WbrGbi

Chicago Fitness Club to Pay $45K to Settle Sex Harassment Suit

A Chicago fitness club will pay $45,000 and provide other relief to settle a federal sex harassment and retaliation lawsuit brought The U.S. Equal Employment Opportunity Commission (EEOC) says an employee of Lakeshore Sport and Fitness filed a discrimination charge …

from News – Insurance Journal http://bit.ly/2EHDJSF

AM Best Assigns Credit Ratings to Centerline Property & Casualty of Tennessee

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” to Centerline Property and Casualty Insurance Co., headquartered in Knoxville, Tenn. The outlook assigned to these Credit Ratings is stable. The …

from News – Insurance Journal http://bit.ly/30SGuu3

Jackson Sumner & Associates Adds Edmonds as HR/Office Manager in North Carolina

Jackson Sumner & Associates (JSA) has hired Laura Edmonds as human resources and office manager for the organization’s leadership team. Edmonds will helm all HR efforts including developing and communicating company policies and procedures to employees, managing the onboarding of …

from News – Insurance Journal http://bit.ly/2WrqbVL

Remembering Chernobyl As World’s Nuclear Industry Seeks Role in Future of Sustainable Energy

A television series about the world’s worst nuclear accident is refocusing millions of viewers on atomic risks just as the industry struggles to gain traction in markets flooded with renewable power. Home Box Office Inc.’s mini-series “Chernobyl” is set to …

from News – Insurance Journal http://bit.ly/2I84px2

European Business Leaders’ Confidence Drops Over Brexit

Uncertainty over Britain’s departure from the European Union has triggered a sharp drop in business confidence in Europe over the past six months, a survey showed on Thursday. Only 50% of European business leaders said they were confident about the …

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Father Testifies in J&J Opioid Marketing Trial on Death of His College Football Star Son

Austin Box was a home-grown football star at the University of Oklahoma in 2010 when back surgery to repair an injury got him started on powerful opioid painkillers that would end his life at 22, his father testified through tears …

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Three Fed rate cuts on bond market’s radar Three Fed rate cuts on bond market’s radar

Treasury 10-year yields slid as much as five basis points Wednesday to about 2.22 per cent.

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International Marine Underwriters Enhances Ocean Cargo Coverage

International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has enhanced its ocean cargo policy with new coverages to address the needs of an increasingly global ocean marine market and a redesigned form. The ocean cargo policy and extension …

from News – Insurance Journal http://bit.ly/2KfrrVh

Several Injured by Deck Collapse at North Carolina Beach House

A deck collapsed Monday at a home in Ocean Isle Beach, injuring several people. Ocean Isle Beach Mayor Debbie Sloane Smith tells news outlets that the incident occurred Monday afternoon. Smith says she was told a group of people had …

from News – Insurance Journal http://bit.ly/2Wb9X3E

Nebraska’s Creighton University Launches FinTech Degree Program

Creighton University in Omaha, Nebraska, announced its Heider College of Business has launched what the university says is the first of its kind Finance and Technology (FinTech) major, a degree program that combines elements of the college’s Finance degree program …

from News – Insurance Journal http://bit.ly/2HIprTU

Sovos Acquires Iowa’s Eagle Technology Management

Global tax software provider Sovos is acquiring Iowa-based Eagle Technology Management (ETM), which provides statutory financial reporting and insurance premium tax software to insurers, and unclaimed property reporting products and services to financial institutions, corporations and insurance companies in the …

from News – Insurance Journal http://bit.ly/2Xab8gg

Cavignac & Associates in California Names Enderby Account Manager

San Diego, Calif.-based Cavignac & Associates has named Melissa Enderby an account manager within the firm’s small business unit. Enderby’s responsibilities include completing requests for proposals, preparing presentations and proposals, planning and conducting open enrollment meetings, submitting applications and forms …

from News – Insurance Journal http://bit.ly/2K99tUo

California Commissioner Wants Insurers to Extend Living Expense Coverage for 2017 Wildfire Survivors

California Insurance Commissioner Ricardo Lara on Wednesday announced two new actions intended to assist survivors of the 2017 North Bay Fires who are facing unavoidable delays in rebuilding. The California Department of Insurance issued a notice to insurers requesting they …

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Pentagon working to reduce US reliance on Chinese rare earth minerals after trade war threat

The Pentagon presented a report to Congress on rare earth minerals in an effort to reduce reliance on China, according to a Reuters report.

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Corporations were the biggest buyers of stock during the bull market, but now they are selling

Corporations have been the biggest buyers of shares during the bull market but they're slowing down.

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Watch now: @ETFEdgeCNBC on 3 ways to hedge against volatility

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Dump Truck Crashes Into Gloria Estefan Recording Studio in Miami, Injures 2

Authorities say a dump truck hit a sports utility vehicle before crashing into a recording studio owned by Gloria and Emilio Estefan. Miami-Dade Fire Rescue tweeted that two people were taken to the hospital and two others were treated at …

from News – Insurance Journal http://bit.ly/2W9eoMp

Viewpoint: Ground Will Shake and Snakes Will Flee as the Mississippi Drains

I was on site in 2011 when the Army freed the Mississippi from a man-made barrier and unleashed it into a large swath of rural Louisiana — a harrowing trade off that flooded homes and farms to avoid catastrophe in …

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'Don't say we didn't warn you': A phrase from China signals the trade war could get even worse

The biggest Chinese newspaper made a warning to the U.S. using a phrase it only used twice in history, both of which involved full-on wars.

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Risk Strategies Acquires Texas’ MainStreet Consulting Group

Boston-based insurance brokerage and risk management firm Risk Strategies has acquired MainStreet Consulting Group, a brokerage headquartered in Conroe, Texas, just north of Houston. Terms of the deal were not disclosed. Established in 2003, MainStreet Consulting Group is primarily focused …

from News – Insurance Journal http://bit.ly/2YU9zU4

Ex- Clerk for Nebraska City Reaches $325K Settlement in Retaliation Suit

A former Nebraska City clerk who sued after he was essentially fired by the City Council in 2015 has agreed to a $325,000 settlement offered by the city. The Lincoln Journal Star reports that Arnold Ehlers’ lawsuit said the Nebraska …

from News – Insurance Journal http://bit.ly/2JMrc4y

Trump tax cuts did little to boost economic growth in 2018, study says

The Congressional Research Service indicated that the cuts delivered the most benefits to corporations and the rich, with little boost to workers.

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Minnesota Supreme Court Malpractice Ruling Has Doctors Concerned

A recent ruling from the Minnesota Supreme Court saying doctors can be sued for malpractice even if they’re not directly treating a patient is causing angst in the state’s medical and legal communities. The high court said in its ruling …

from News – Insurance Journal http://bit.ly/2ED3vr9

Cramer: For the first time in my career, I'm rooting for yields to rise to calm the stock market

"I can't recall in my career rooting for higher interest rates," says CNBC's Jim Cramer. "That is nuts."

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Major Flooding on Rivers Increases 63% Over Last Five Days

The United States Geological Service and NOAA are reporting that 415 river gauges in the U.S. show flood conditions as of 9:26 AM New York time on May 29. 346 flood locations were in flood status on May 24 Major …

from News – Insurance Journal http://bit.ly/2KaCwa9

Multiple Tornadoes Leave Trail of Destruction Across Indiana, Ohio

A rapid-fire line of apparent tornadoes tore across Indiana and Ohio overnight on May 27-28, packed so closely together that one crossed the path carved by another. There were no immediate reports of any deaths or serious injuries in the …

from News – Insurance Journal http://bit.ly/2JKWpW4

Hawaii Eruption Caused $94M Loss in Economic Benefit

Communities near Hawaii Volcanoes National Park lost up to $94 million in economic benefit last year compared to the previous year due to the eruption of Kilauea Volcano, officials said. The National Park Service found the Big Island park had …

from News – Insurance Journal http://bit.ly/2HJeKQZ

8 Tornadoes, Hail Hit Colorado’s Northeastern Plains

Severe thunderstorms produced eight weak tornadoes over Colorado’s northeastern plains while snow fell in parts of the mountains on the unofficial start of summer. The National Weather Service says no damage was reported from Monday’s twisters. However, the storms that …

from News – Insurance Journal http://bit.ly/2YWP4pL

Amid Expense Allegations, Argo Shareholders Handily Elect Board But Barely Approve Executive Pay

Argo Group International Holdings ended up having a fairly routine annual meeting on May 24, after spending months fending off accusations of excessive spending and other abuses from an activist shareholder. One exception: A tight vote on executive compensation. The …

from News – Insurance Journal http://bit.ly/30S9WQL

Long Island Rail Road Says Train Service to Hamptons Has Resumed After Derailment

The Long Island Rail Road says train service to the Hamptons has resumed after a derailment halted service for two days. The railroad said on Twitter Monday that the 7:04 train from Montauk would be the first westbound train to …

from News – Insurance Journal http://bit.ly/2EG1rPb

The Hilb Group Acquires New England-Based 360 Corporate Benefit Advisors

The Hilb Group LLC (THG) has acquired New England-based 360 Corporate Benefit Advisors (360CBA). The transaction became effective May 1, 2019. With offices in Fairfield, Conn., and Wayland, Mass., 360CBA is an employee benefits consulting firm providing insurance brokerage, administration …

from News – Insurance Journal http://bit.ly/30UdbXO

Pennsylvania’s KMRD Partners Welcomes Back McPoyle

KMRD Partners has welcomed back Colin P. McPoyle in a new business development role. In this role, he will work to identify new business opportunities and develop relationships and strategies with organizations to reduce their cost of risk. Prior to …

from News – Insurance Journal http://bit.ly/2Wdua92

OSHA Calls for Review of Machine Safety Rule in Age of Robotics

The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) is considering an update to the rules governing the use of machines in the workplaces in light of the increasing use of robotic technology. The agency said it is …

from News – Insurance Journal http://bit.ly/2I4wkhf

Massachusetts’ Activer Solutions Appoints Feirer as Chief Marketing Officer

Activer Solutions, a Marlborough, Mass.-based, strategic service partner providing business process outsourcing to the property and casualty insurance industry, has appointed Ernie Feirer as chief marketing officer. This new role reflects the company’s preparation for growth, expansion of partnerships and …

from News – Insurance Journal http://bit.ly/2KhBJEe

Insurers Face Minimal Losses from Peru and Ecuador Earthquake: A.M. Best

A.M. Best said it does not foresee a major impact to the domestic insurance markets in Peru or Ecuador following a significant earthquake centered in Peru that also affected several provinces in neighboring Ecuador. On May 26, 2019, an 8.0 …

from News – Insurance Journal http://bit.ly/2MuxCYz

European Central Bank Calls for ‘Deeper Understanding’ of Climate Risks for Financial System

Climate change could hit bank balance sheets with a knock-on effect on financial stability, the European Central Bank warned on Wednesday. In a special feature for its semi-annual Financial Stability Review on Wednesday, the ECB said problems will materialize if …

from News – Insurance Journal http://bit.ly/2Wigf1C

Thriving through hyper-relevance: long-term savings & wealth businesses must transform to become ‘living businesses’

Every sector of the life, pensions & investments (LP&I) industry is under extreme pressure. And long-term savings & wealth (LTS&W) businesses are certainly no exception. In this new blog series we’ll be looking at how these businesses can remain competitive, increase market share and reinvent themselves to thrive in the future. The solution? Becoming what…

Thriving through hyper-relevance: long-term savings & wealth businesses must transform to become ‘living businesses’

from Accenture Insurance Blog https://accntu.re/2EFIrjM

Here are the biggest analyst calls of the day: Amazon, Facebook, General Mills & more

Here are the biggest calls on Wall Street on Wednesday

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There's a new biggest Amazon bull on Wall Street, who sees the stock surging 50% in a year

Pivotal's Michael Levine sees Amazon worth $1.3 trillion in 12 months.

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Plaid launches in the U.K., setting the stage for more fintech companies to expand abroad

After launching in Canada last year, fintech company Plaid announced it is launching in the U.K. Wednesday.

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Bed Bath & Beyond to add four new directors in settlement with activist trio

Bed Bath & Beyond settled a fight with activist investors, saying it would nominate new directors and consider the sale of some segments.

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RBI to cut rates in June, but analysts split on if it should RBI to cut rates in June, but analysts split on if it should

The last time the central bank cut rates three times in a row was in 2013.

from MF-Economic Times http://bit.ly/2XaVK3f
#MF #MutualFund

Texas Rubber Company Faces $530K in Penalties for Safety Violations

Federal safety officials have levied more than a half a million dollars in penalties against a Texas rubber products company for multiple workplace safety violations. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) cited Custom Rubber Products …

from News – Insurance Journal http://bit.ly/2JJ9Ky7

Early Cannabis Insurance Claims Experience Differs from Expectations

It’s still early, but claims experience thus far in the cannabis insurance market is encouraging, according to one leading writer. “So far, we’re optimistic that we’re going to see that our experience is going to be better than our other …

from News – Insurance Journal http://bit.ly/2Qyh4wT

Oklahoma Says J&J ‘Deceitful’ Marketing Fed Opioid Epidemic; J&J Says It Did Nothing Wrong

Johnson & Johnson’s greed for more sales of its addictive opioid painkillers helped create a deadly epidemic in Oklahoma that claimed thousands of lives, and the company should pay billions of dollars as compensation, the state’s top law-enforcement officer told …

from News – Insurance Journal http://bit.ly/2wqVeCo

Maersk’s Blockchain Platform Gains 2 Large Shippers

Two of the world’s biggest shipping groups will join a Maersk led blockchain platform aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. With Mediterranean Shipping Co (MSC) and CMA CGM, the second- and fourth-largest …

from News – Insurance Journal http://bit.ly/2Qwcvn1

Increasing Physician Prices Doesn’t Produce Better Results for Injured Workers

When the price of physician services increases relative to group health rates, injured workers report fewer problems getting the care they want but no significant improvement in physical function or speedier return to work, according to a study released Thursday …

from News – Insurance Journal http://bit.ly/2wpGL9J

European Regulators Vow Independent Review of Boeing 737 Safety

European regulators assessing changes to Boeing Co.’s grounded 737 Max will scrutinize the jet’s entire flight-control system before a return to the skies can be approved. The review by the European Union Aviation Safety Agency will include the plane’s displays, …

from News – Insurance Journal http://bit.ly/2QygZJB

How Autonomous Vehicles Improve Traffic Flow

A fleet of driverless cars working together to keep traffic moving smoothly can improve overall traffic flow by at least 35 percent, researchers have shown. The researchers, from the University of Cambridge, programmed a small fleet of miniature robotic cars …

from News – Insurance Journal http://bit.ly/2wrQzAc

West Virginia AG Files Amended Suit Against State Catholic Diocese Over Abuse

West Virginia’s Roman Catholic diocese failed to publicly disclose decade-old allegations of sexual abuse of a student involving a Catholic school teacher, the state’s attorney general said May 21. Attorney General Patrick Morrisey announced an amended lawsuit against the Diocese …

from News – Insurance Journal http://bit.ly/30SDXQk

Cyber MGU At-Bay Launches Excess Policy for High Revenue Clients

Cyber insurance MGU At-Bay has launched an excess cyber insurance policy for clients with up to $5 billion in annual revenue, with available limits up to $10 million. At-Bay developed this product to fulfill broker demand for access to the …

from News – Insurance Journal http://bit.ly/2VVRB1B

AAA Survey: Floridians Concerned for Upcoming Hurricane Season

Floridians are becoming more concerned about hurricane season, after enduring four major storms in the past three years, including a category five last year, according to a survey from AAA. The AAA survey, conducted online of 400 residents living in …

from News – Insurance Journal http://bit.ly/2HHAFb4

Appalachian Underwriters Hires 3 to its Commercial Specialty Division

Appalachian Underwriters, Inc. has hired three new underwriters to its Commercial Specialty division. April Cook comes to AUI with background in the underwriting industry, starting as a property and casualty renewal underwriter with an agency and then moving into workers’ …

from News – Insurance Journal http://bit.ly/2Xl8Zhy

New York Reclaims Top Financial Center Title from London

New York once again has bragging rights as the world’s leading financial center, having reclaimed the title from London where Brexit continues to cast a shadow of uncertainty over the UK economy. However, the Big Apple ought to be worried …

from News – Insurance Journal http://bit.ly/2QyehDZ

Texas Surplus Lines Brokers Can Now Input Policy Limit Info Into EFS

Agents and brokers can now input policy limit information directly into the Surplus Line Stamping Office of Texas’ (SLTX’s) Electronic Filing System (EFS). A new field has been added to the system to allow input of the highest aggregate limit …

from News – Insurance Journal http://bit.ly/2wrQfBw

Texas Would Lose Billions if Another Major Storm Hits Coast, Report Says

Housing sales in Texas would drop, gasoline prices would increase and the state would lose hundreds of billions of dollars in economic output if another major storm struck an unprotected coastline, according to a new study. The joint economic impact …

from News – Insurance Journal http://bit.ly/2YSCeZG

Capital Insurance Group in California Officially Acquired by Auto-Owners Insurance

Capital Insurance Group is now a member of the Auto-Owners Insurance group of companies after regulatory approvals were cleared and closing documents were signed this week. CIG in February entered into an agreement to be acquired by Lansing, Mich. based …

from News – Insurance Journal http://bit.ly/2JFB2oQ

Amazon could surge 35% with AWS worth more than $500 billion, analyst says

Amazon's stock could be worth $2,500 a share in one year, Cowen said, valuing its Amazon Web Services business at $505 billion.

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PIIB in California Names Bertolini Future President and CEO

El Dorado Hills, Calif.-based Pacific Interstate Insurance Brokers has named Tiffany Bertolini the future president of the firm. Current President and CEO Larry Manning will be retiring from his current duties on Dec. 31, 2020. Manning will remain with PIIB …

from News – Insurance Journal http://bit.ly/2I2ZzBe

Robinhood on track for at least $7 billion valuation with upcoming funding round

Robinhood is in the process of a funding round that would value the company at more than $7 billion, two people familiar with the matter tell CNBC.

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The next downturn could see a 'radicalization' of the policies used during the financial crisis

Policymakers pulled out all the stops to fix the financial crisis, but may even have to get more extreme when the next downturn hits.

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Ace Hardware CEO on trade war: Moving supply chain out of China is not a 'quick fix'

In the meantime, Ace is attempting to get its suppliers to pay for any price increases rather than its customers, says CEO John Venhuizen.

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Morgan Stanley says economy is on 'recession watch' as bond market flashes warning

The stock market and economic outlook in the United States is "deteriorating," according to Morgan Stanley's chief stock strategist.

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Lawsuit: Insurer Says No-ah to Kentucky Ark Attraction’s Rain Damage Claim

In the Bible, the ark survived an epic flood. Yet the owners of Kentucky’s Noah’s ark attraction are demanding their insurance company bail them out after heavy rains caused nearly $1 million in property damage. The Ark Encounter says in …

from News – Insurance Journal http://bit.ly/2HGEWMc

These stocks — including Coca-Cola, Verizon — are the biggest Dow winners when rates fall

Amid such a drastic drop in rates, some stocks are still worth jumping into if history is any guide.

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Arthur J. Gallagher Acquires Indiana’s Cairnstone Financial

Arthur J. Gallagher & Co. has acquired Zionsville, Indiana-based Cairnstone Financial LLC. Terms of the transaction were not disclosed. Founded in 2010, Cairnstone Financial is a benefits consultant offering group health, life, wellness, retirement, disability and dental coverages and services …

from News – Insurance Journal http://bit.ly/2MeOfr0

Mississippi Floodgate Reopened as High Water Stands in Delta

A floodgate in the Mississippi Delta has been reopened as large stretches of rural land remain underwater. The Mississippi Levee Board says the Steele Bayou floodgate was opened Thursday. The structure north of Vicksburg helps regulate water levels inside a …

from News – Insurance Journal http://bit.ly/2JIEsY8

Oklahoma Insurance Commissioner Puts Hold on Policy Cancellations

Oklahoma Insurance Commissioner Glen Mulready on May 24 issued a bulletin directing insurance companies to keep coverage in effect for storm victims for the next 30 days. The bulletin was issued following severe weather and flooding that swamped Oklahoma last …

from News – Insurance Journal http://bit.ly/2YXvLNd

West Virginia to Get $106M in Federal Disaster Funds for 2016 Floods

West Virginia is set to get $106 million in federal disaster relief money. U.S. Sen. Joe Manchin on Thursday said the state would be getting the funds as part of a federal grant. The West Virginia Democrat says the money …

from News – Insurance Journal http://bit.ly/2KaptWa

Bill to Cut Auto Insurance Premiums Passed by Michigan Legislature

Michigan’s Legislature on May 24 passed a landmark bill that would cut the country’s highest auto insurance premiums by letting drivers forego a one-of-a-kind requirement to buy unlimited medical coverage for crash injuries. The votes followed the announcement of an …

from News – Insurance Journal http://bit.ly/2Wx3xLm

An under-the-radar way to measure economic growth in China is painting a bleak picture

China's true pace of economic growth is always hard to track, but the country's diesel fuel demand is raising some red flags.

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Weekend Tornadoes Rake Oklahoma, Killing 2, Injuring 29

A tornado leveled a motel and tore through a mobile home park near Oklahoma City overnight, killing two people and injuring at least 29 others before a second twister raked a suburb of Tulsa more than 100 miles (160 kilometers) …

from News – Insurance Journal http://bit.ly/2Wbtn8A

The MEMIC Group Appoints Kerr Director of Organizational Development & Training

Workers’ compensation specialist The MEMIC Group has appointed Kathleen Kerr as director of Organizational Development & Training. In this newly created role, Kerr will execute enterprise wide organizational development aimed at talent management, performance development, diversity and inclusion, change management, …

from News – Insurance Journal http://bit.ly/2HFktHw

New Haven Employee Pleads Guilty to Embezzling More Than $100K

A former New Haven employee has pleaded guilty to embezzling more than $100,000 from the Connecticut city. Daniel Lion, of Hamden, pleaded guilty to a federal wire fraud charge Wednesday. Court documents say New Haven employed the 64-year-old Lion for …

from News – Insurance Journal http://bit.ly/2I6FAl5

Driver Involved in Washington Duck Boat Crash Gets $2M Settlement

The driver of a duck boat vehicle in the 2015 deadly crash in Seattle has accepted a $2 million settlement for his claims against the tour company. SeattlePI.com reports Eric Bishop announced the settlement Friday in response to a lawsuit …

from News – Insurance Journal http://bit.ly/2XdPRSW

Log Ride Crash at California Amusement Park Leaves 3 Insured

Authorities say three members of a family were injured, one critically, when they were ejected from the log ride at a Southern California amusement park. Fire officials say the ride malfunctioned and one of the log-shaped vessels overturned Saturday at …

from News – Insurance Journal http://bit.ly/2ECXgnc

Washington Man Pleads Guilty, 4 Others Charged in Pay-As-You-Crash Cases

One man was sentenced and four people were charged in separate insurance fraud investigations by Washington Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. Paul Albarella, of Kennewick, pleaded guilty in Franklin County Superior Court to first-degree attempted theft. He will …

from News – Insurance Journal http://bit.ly/2K8ybUP

ICW Group in California Names Hartline Vice President of Information Technology

ICW Group Insurance Cos. has named Todd Hartline vice president of information technology. Hartline, who will lead the company’s IT function, will be based in the ICW Group corporate headquarters in San Diego and report to John Novak, ICW Group’s …

from News – Insurance Journal http://bit.ly/2JKT5ds

Pedestrian Killed After Being Hit by Amtrak Train in Vermont

Police in Northfield, Vermont, are investigating the death of a man who was hit by the passing Amtrak Vermonter passenger train. WCAX-TV reports a resident in the Vermont town was at a pedestrian crossing in downtown Northfield when he stumbled …

from News – Insurance Journal http://bit.ly/2K8yxuD

Worker Seriously Injured at Massachusetts Construction Site

A worker has been seriously injured at a construction site in Lynn, Mass. Lynn Deputy Fire Chief Arthur Richard says the 38-year-old man was taken by helicopter Friday morning to a Boston hospital after suffering the injuries. Officials say a …

from News – Insurance Journal http://bit.ly/2WrwDvH

'Mr. Wonderful' Kevin O'Leary hates auto stocks: 'I will not touch any of these companies'

"This sector is a miserable place to be an investor," says the chairman of O'Shares ETFs, known on "Shark Tank" as "Mr. Wonderful."

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ICICI Prudential Mutual Fund launches an MNC fund ICICI Prudential Mutual Fund launches an MNC fund

In India, there are various MNCs catering to one’s every day as well as industrial needs.

from MF-Economic Times http://bit.ly/2XabXWd
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A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser

Within the card industry, Goldman's deal with Apple is widely perceived as one that's risky for a bank card issuer to take on.

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Here are the biggest analyst calls of the day: Beyond Meat, Apple, Southwest, Pfizer, Roku & more

Here are the biggest calls on Wall Street on Tuesday

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How insurers can strengthen their ecosystem capabilities

Insurers may recognize the importance of ecosystems in the future, but that doesn’t mean that they are completely equipped for disruption. In fact, many carriers currently overestimate their ecosystem capabilities. While 97% of the companies surveyed considered themselves a highly attractive ecosystem partner, less than 5% actually have the attributes of ecosystem masters. The reality…

How insurers can strengthen their ecosystem capabilities

from Accenture Insurance Blog https://accntu.re/2YSugQ6

Title Insurer First American Says App Defect May Have Exposed Customer Data

U.S. real estate title insurance company First American Financial Corp. said on Friday it had learned of a design defect in one of its production applications that had made possible unauthorized access to customer data. The statement was sent in …

from News – Insurance Journal http://bit.ly/2Mejqmi

Reliance Capital exercises green-shoe option after offer for sale in RNAM Reliance Capital exercises green-shoe option after offer for sale in RNAM

Reliance Capital announced OFS in order to comply with the mandatory requirement of achieving minimum public shareholding of 25 per cent by reducing the promoter stake.

from MF-Economic Times http://bit.ly/2EG37Zg
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Citi slashes Apple outlook as trade war likely to cut China sales 'in half'

Citi cut its forecast for Apple's earnings as the U.S. trade war with China will further hurt iPhone sales in the second half of the year.

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Normally bullish Wall Street analysts see Beyond Meat shares pulling back after triple since IPO

Wall Street analysts were feeling underwhelmed by the plant-based meat substitute following the big pop in the stock.

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The stock market would be much lower if it weren't for companies buying back their own shares

Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.

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Carlson Named CEO for Wells Media Group

Wells Media Group Chairman Mark Wells announced that Josh Carlson has been named CEO of Wells Media Group, Inc., effective immediately. Carlson has served as chief technology officer/chief innovation officer of Wells Media Group since 2015. He also serves as …

from News – Insurance Journal http://bit.ly/2JLA8Hw

Keyless Car Crime Drives 20% Hike in UK Motor Theft Claims in 1st Quarter

The cost of UK motor theft claims paid by insurers in the first quarter rose by more 20% from the same period last year, according to the Association of British Insurers (ABI). The ABI report revealed that the number of …

from News – Insurance Journal http://bit.ly/2McFais

Alibaba Plans $20B Listing in Hong Kong to Boost Technology Investments: Sources

Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion float in New York. The deal, …

from News – Insurance Journal http://bit.ly/2QvbjQx

Texas Windstorm Insurer Withdraws 10% Rate Increase Filing

Texas’ property insurer of last resort for wind and hail along the Texas coast voted at a May 24, 2019, meeting of its board of directors to withdraw a 10% rate increase filed last year that was subsequently put on …

from News – Insurance Journal http://bit.ly/2XbSJ2v

Valley Insurance Agency Alliance Hires Davis as Marketing Director

Valley Insurance Agency Alliance (VIAA), a network of over 120 independent insurance agencies in Missouri and Illinois, has hired Lauren Davis as director of Marketing. In this position, she will design and execute digital marketing strategies and campaigns for VIAA …

from News – Insurance Journal http://bit.ly/2wmMAox

Issuer Credit Rating Outlook Revised to Stable for Church Mutual Insurance Group

AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of Church Mutual Insurance Co. in …

from News – Insurance Journal http://bit.ly/2QuxnLq

China’s Revamp of Anbang Insurance Includes Moving Business to New Company

The Chinese government is taking a major step in its efforts to sell a strategic stake in Anbang Insurance Group Co., the acquisitive insurer it took over last year amid a fraud investigation into its former chairman. Under a plan …

from News – Insurance Journal http://bit.ly/2HDXKM2

MillerCoors Wins Partial Victory in Battle Against Bud Light’s Corn Syrup Ads

A U.S. court on Friday barred Anheuser Busch InBev NV, the world’s largest beer maker and brewer of Budweiser brand beers, from using parts of its marketing that said rival Molson Coors Brewing Co.’s MillerCoors used corn syrup in the …

from News – Insurance Journal http://bit.ly/2YTqOot

U.S. Court Clears Swiss Bank UBS in Whistleblower’s $20 Million Libel Suit

A New York appeals court has dismissed a U.S. whistleblower’s $20 million libel suit against Swiss bank UBS, his former employer, concluding that statements the Zurich-based bank made about him were at least “substantially true.” Court documents dated May 21 …

from News – Insurance Journal http://bit.ly/2HH2TmC

Insurers and Others Gaining, Banks Losing Ground in Finance, Says European Central Bank Governor

The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard financial …

from News – Insurance Journal http://bit.ly/2YUDawF

U.S. Farmers Face Insurance, Aid Decisions as Persistent Rains Prevent Planting

Kansas farmer Mark Nelson has until Saturday to plant his corn or lose the insurance that protects him from a drop in prices or yield. Instead, he’s hopping on a plane to visit his father in Chicago. Nelson is now …

from News – Insurance Journal http://bit.ly/2HGZgwV

China Financial Regulator Sees ‘Very Limited’ Impact from Trade War with U.S.

The U.S. escalation of trade tensions won’t solve any of its problems but will create volatility in global markets and hurt the world economy, according to China’s top financial regulator. Higher U.S. tariffs will have a “very limited” impact on …

from News – Insurance Journal http://bit.ly/2YSrN8w

Investor wealth rises by Rs 3.86 lakh crore in 2 days of rally Investor wealth rises by Rs 3.86 lakh crore in 2 days of rally

The Sensex had hit its all-time high of 40,124.96 during the trade on May 23.

from MF-Economic Times http://bit.ly/2JHjkkY
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State Farm to Cut Auto Rates by 5.5% in West Virginia

State Farm Mutual Automobile Insurance Co. said it plans to cut overall personal auto rates in West Virginia by 5.5%. The expected total statewide impact for State Farm Mutual by this rate decrease in West Virginia will be approximately $17.7 …

from News – Insurance Journal http://bit.ly/2Quv8ru

Glatfelter Updates, Expands Workers’ Compensation Product

Glatfelter Program Managers has unveiled a new workers’ compensation program now available in most states. The new program gives clients and agents access to Glatfelter’s industry-specialized risk management team and online safety library, medical management services to help identify hazards …

from News – Insurance Journal http://bit.ly/2JHBYJg

Yes Bank likely to exit asset management business Yes Bank likely to exit asset management business

Immediate concerns for the new management are risk management systems.

from MF-Economic Times http://bit.ly/2HDPyuZ
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Bond yield at 13-month lows on rate cut hopes Bond yield at 13-month lows on rate cut hopes

Yield on the benchmark 10-year government bond fell to 7.165 per cent.

from MF-Economic Times http://bit.ly/2YS8egE
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Oklahoma Will Get $85 Million from Drug Firm Teva to Avoid Trial Over Opioid Marketing

Teva Pharmaceutical Industries Ltd. agreed to pay $85 million to settle an Oklahoma lawsuit claiming that illegal marketing of its opioid painkillers contributed to a public health crisis in the state. The deal, announced Sunday, was reached just as the …

from News – Insurance Journal http://bit.ly/30OvcqE

Opioid Litigation Tests Public Nuisance Claim Theory

Determining who foots the bill for America’s growing opioid epidemic may depend on how well the state of Oklahoma deploys a high-risk legal strategy this week against Johnson & Johnson and Teva Pharmaceutical Industries Ltd. At least 42 states and …

from News – Insurance Journal http://bit.ly/2VTR3sS

GOP Lawmaker Sidetracks Disaster Bill Including Flood Insurance Extension

A single Republican House member temporarily blocked fast-track passage Friday of a $19 billion disaster-aid plan, likely meaning lawmakers will vote when they return in early June from a week-long recess. Freshman Representative Chip Roy of Texas objected to the …

from News – Insurance Journal http://bit.ly/2WwGccK

IDFC Mutual Fund opens Focused Equity Fund for lumpsum investment IDFC Mutual Fund opens Focused Equity Fund for lumpsum investment

In 2017, IDFC AMC had put in a restriction of Rs 2 lakh per transaction to moderate the flows and maintain the investment style.

from MF-Economic Times http://bit.ly/2JHmsNP
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Motilal Oswal AMC launches WhatsApp transaction platform Motilal Oswal AMC launches WhatsApp transaction platform

It is the first of its kind initiative by any fund house in India to do mutual fund transactions through whatsapp messenger.

from MF-Economic Times http://bit.ly/2WtHSUt
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FinMin to launch ETF with bank stocks, financial institutions this fiscal FinMin to launch ETF with bank stocks, financial institutions this fiscal

The government currently has two exchange-traded funds -- CPSE ETF and Bharat-22 ETF.

from MF-Economic Times http://bit.ly/2EzlgrI
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Debt mutual funds losing ground as NBFC stress hits segment Debt mutual funds losing ground as NBFC stress hits segment

Amfi data showed that the share of debt schemes in the total mutual fund resources has shrunk to 29% in April 2019 from 35% a year ago.

from MF-Economic Times http://bit.ly/2VUq0xz
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Activist Third Point builds stake in health insurer Centene

Daniel Loeb's Third Point has built a stake in Centene as the health insurer works to complete its purchase of WellCare Health Plans.

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M&A powerbroker Ken Moelis: It's 'almost impossible' to get US public firms to do China deals

The Moelis & Co. founder says the current market volatility from tense U.S.-China relations is impacting large-cap stocks.

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Watchdog Report: North Carolina Delayed Spending Federal Hurricane Matthew Funds

Administrative mistakes and a lack of expertise caused delays in North Carolina’s spending of federal funds for Hurricane Matthew recovery, according to a report released Monday from the General Assembly’s government watchdog agency. The non-partisan Program Evaluation Division also found …

from News – Insurance Journal http://bit.ly/2YO4JHT

Recovery Begins in Missouri’s Capital After Tornado Sweeps Area

A tornado tore apart buildings in Missouri’s capital city as part of an outbreak of severe weather across the state overnight that left at least three people dead and dozens injured. The National Weather Service confirmed that the large and …

from News – Insurance Journal http://bit.ly/2Wse2Q6

Speedy Reactor Cleanups May Carry Both Risks and Rewards

Companies specializing in the handling of radioactive material are buying retired U.S. nuclear reactors from utilities and promising to clean them up and demolish them in dramatically less time than usual – eight years instead of 60, in some cases. …

from News – Insurance Journal http://bit.ly/2Qr3NX6

Oklahoma’s Opioid Trial Against Drugmakers J&J, Teva Set to Begin

Gail Box vividly remembers the day in May 2011 when she first learned her 22-year-old son Austin, a University of Oklahoma linebacker, was abusing opioid painkillers: It was the day he died of an overdose. In a few months he …

from News – Insurance Journal http://bit.ly/2wofft3

GuideOne in Iowa Names Pearson Sr. VP, Chief Underwriting Officer

West Des Moines, Iowa-based GuideOne Insurance has appointed Doug Pearson senior vice president and chief underwriting officer. In this role, Pearson is responsible for niche product management, home office underwriting, underwriting compliance and business systems. Pearson brings extensive underwriting and …

from News – Insurance Journal http://bit.ly/2VN5Khl

Three things could cause a 'second wave' in the market sell-off

The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura.

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A major Chinese chipmaker is delisting from NYSE but says it has nothing to do with the trade war

One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange.

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CFC Designs New Broker Platform for Its Cyber Insurance Products

Specialist insurer CFC is debuting a new broker platform designed to facilitate the sale of its cyber insurance products to small- and medium-sized businesses. The idea is that London, UK-based company’s cyber insurance platform will enable brokers to instantly access …

from News – Insurance Journal http://bit.ly/2K0dgU4

Zuckerberg reportedly held talks with Winklevoss twins about Facebook's cryptocurrency plans

Facebook's founder Mark Zuckerberg has had talks with the Winklevoss twins about the social media giant's developing digital currency.

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Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels

An analyst for Ark Invest, which has a major investment in Tesla, says drastic price-target cuts on Wall Street are missing the big picture.

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Alaska City Votes to Adopt Climate Action Plan

The Anchorage Assembly has adopted a climate action plan setting goals for the Alaska city. Alaska Public Media reported that the city officials voted this week to adopt the 100-page document outlining aims such as reducing carbon emissions by 80 …

from News – Insurance Journal http://bit.ly/2wjiH8x

Forecasters Say Hawaii May Have Busy Hurricane Season

Hawaii and the Central Pacific could experience more storms than normal during this year’s hurricane season. The National Oceanic and Atmospheric Administration predicted Wednesday there will be five to eight named tropical cyclones in the region from June 1 through …

from News – Insurance Journal http://bit.ly/2K1S4wO

Arizona Claim Seeks $45M for Incapacitated Woman Who Gave Birth

Lawyers for an incapacitated woman who later gave birth at a Phoenix long-term care facility have filed a $45 million notice of claim against the state. The precursor to a lawsuit says the woman allegedly was raped repeatedly before giving …

from News – Insurance Journal http://bit.ly/2JC38Bn

The Conference Board: Grab a deal this weekend because prices are headed higher from tariffs

After all the holiday specials fade, U.S. consumers could be in for a surprise: higher prices.

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FAA Chief ‘Very Encouraged’ by Talk with World’s Aviation Regulators on Grounded Boeing 737

The chief U.S. aviation regulator said he was very encouraged by a one-day discussion with his counterparts from around the world on the steps needed to return Boeing Co.’s grounded 737 Max jetliner to service, including the need for additional …

from News – Insurance Journal http://bit.ly/2wfVT9D

As Many as 8 Hurricanes Forecast for ‘Near Normal’ 2019 Hurricane Season

As many as 8 hurricanes may form in the Atlantic in 2019, a “near normal” season following two years of storms that have left a trail of death and destruction in the Caribbean and U.S. coast. Nine to 15 named …

from News – Insurance Journal http://bit.ly/2Wq2wVx

VOOM Raises $5M to Expand On-Demand Insurance for Episodic Mobility Usage

VOOM, the Tel Aviv-based on-demand, telematics-based insurance platform for drones and other specialized mobility services such as e-scooters, announced it has closed a $5 million Series A funding round. The round was led by Arbor Ventures with participation from returning …

from News – Insurance Journal http://bit.ly/2JBRBSB

Pianist Injured in Massachusetts Building Facade Collapse Files Lawsuit

An aspiring concert pianist whose career was likely ended when she lost a finger and suffered other severe injuries when a Boston restaurant’s brick and concrete facade collapsed on her has sued. The Boston Globe reports that the suit filed …

from News – Insurance Journal http://bit.ly/2HxBl2K

The Post-Digital Era: Getting ready for what comes next

Understanding information across a wide spectrum is one of the key functions of Accenture research. We consistently publish reports based on surveys from top-tier organizations around the globe, as well as our own research. That information is used to help everyone in the organization, from senior executives to employees, better navigate an ever-changing business landscape.…

The Post-Digital Era: Getting ready for what comes next

from Accenture Insurance Blog https://accntu.re/2JBN6r4

Big I New York Elects Cofini as Board Chair

Big I New York, the state’s independent insurance producer trade association, has elected John Cofini as its chair of the board for the 2019-2020 term. Cofini was sworn in during a May 21 ceremony at Big I New York’s Go …

from News – Insurance Journal http://bit.ly/2X3jZjz

Rochester Property Owner Indicted for Defrauding Banks, Insurance Companies

Prominent upstate New York landlord Robert Morgan is charged in a 114-count federal indictment with defrauding banks and insurance companies out of millions of dollars by inflating property values and insurance claims while managing his expansive real estate portfolio. The …

from News – Insurance Journal http://bit.ly/2Wn3Icg

Chipotle may be headed for a 'slippery slope' as stock drops

A downgrade from BMO analysts led to an unsavory drop in Chipotle's stock, and some analysts are advising waiting out the weakness.

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Here are the biggest analyst calls of the day: Amazon, Constellation Brands, Alibaba & more

Here are the biggest calls on Wall Street on Friday

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Sensex vaults 623 points to lifetime high on Modi euphoria Sensex vaults 623 points to lifetime high on Modi euphoria

The NSE Nifty also surged over 187 points to close at a fresh lifetime high of 11,844.10.

from MF-Economic Times http://bit.ly/2Ew3cOX
#MF #MutualFund

UK Prime Minister to Resign on June 7, Paving Way for Possible No-Deal Brexit

Fighting back tears, Theresa May said on Friday she would quit, setting up a contest that will bring a new British prime minister to power who could pursue a cleaner break with the European Union. May’s departure will deepen the …

from News – Insurance Journal http://bit.ly/2VNYa6n

Amazon shares will reach $3,000 in 2 years without the company really trying, Piper Jaffray says

"We have a high degree of confidence that AMZN shares can reach this level with no major acquisitions or other significant changes to the business."

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Ransomware Attacks Skyrocketed in Q1: Beazley

Ransomware attacks skyrocketed in the first quarter of 2019, according to the Beazley Breach Response (BBR) Services team, which reported a 105% increase in the number of ransomware attack notifications against clients compared to Q1 2018. In Q1 2019, the …

from News – Insurance Journal http://bit.ly/2HACPJN

DHFL Pramerica Mutual Fund merges schemes, creates side pockets in FMPs DHFL Pramerica Mutual Fund merges schemes, creates side pockets in FMPs

DHFL Pramerica Mutual Fund has decided to merge four of its debt mutual fund schemes.

from MF-Economic Times http://bit.ly/2M398VQ
#MF #MutualFund

Generali to Sell Life Run-Off Portfolio of UK Branch to Reinsurance Group of America

Generali has signed an agreement to sell the life run-off portfolio of its UK Branch to a subsidiary of Reinsurance Group of America Inc., the St. Louis, Mo.-based life and health reinsurance company. The run-off portfolio, which consists of mainly …

from News – Insurance Journal http://bit.ly/2M9Zl0c

Deadly African Swine Fever Now `Endemic’ in Two Regions of China: UN

China’s attempts to control African swine fever have been insufficient to stem further spread of the disease, with the deadly pig contagion now endemic in two regions, a United Nations group said. The virus that causes the disease is entrenched …

from News – Insurance Journal http://bit.ly/2HNlU5w

State Auto Innovation Unit: $25M; 5 Insurtechs; 18 Months

State Auto Labs, the innovation arm of the State Automobile Mutual Insurance Co., says in the 18 months after launching its $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry, it has invested in five …

from News – Insurance Journal http://bit.ly/2JE1cIK

Auto Insurance Drives Personal Lines Improvement

U.S. personal lines insurance saw strong premium growth of 8% in 2018 and the sector’s statutory combined ratio of 99% for 2018 represented the market’s best results since 2013, according to a new special report from Fitch. “Strong performance was …

from News – Insurance Journal http://bit.ly/2K2JtKb

Managing Sexual Harassment Risk in the #MeToo Era

Since October 2017 when the #MeToo era began and sexual harassment claims against Hollywood mogul Harvey Weinstein were revealed, insurers have seen an uptick in not only the number but also the size of sexual harassment claims. “[W]e’re going into …

from News – Insurance Journal http://bit.ly/2JxFvda

Weinstein, Accusers Reach Tentative $44 Million Deal, Reports WSJ

Harvey Weinstein, women who accused him of sexual misconduct, his former film studio’s board members and the New York attorney general’s office have reached a tentative $44 million deal to resolve lawsuits and compensate alleged victims of the Hollywood producer, …

from News – Insurance Journal http://bit.ly/2JXFjDD

The Hanover Adds Watercraft Coverage to Personal Lines Product Suite

The Hanover Insurance Group, Inc. has expanded its suite of personal lines insurance products to include a new watercraft insurance offering. As part of the new offering, The Hanover’s watercraft product will offer: Broadened range of coverage for watercrafts including …

from News – Insurance Journal http://bit.ly/2JBmCpL

Gulfstream Insurance Co. of Florida Appoints Natherson President, CEO

Gulfstream Property and Casualty Insurance Co. has appointed Ronald E. “Nate” Natherson, Jr. as president and CEO. Natherson joins Gulfstream having previously served as chief operating officer for Southern Oak Insurance Co. in Ponte Vedra Beach, Fla. He has more …

from News – Insurance Journal http://bit.ly/2JYLDL2

Florida Governor Signs AOB Reform Bill; Law to Take Effect July 1

Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …

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Reliance Capital to exit mutual fund business Reliance Capital to exit mutual fund business

RNAM will continue to remain a public limited company after the open offer.

from MF-Economic Times http://bit.ly/2Eutdyh
#MF #MutualFund

Cost of Flood-Prone Home Buyouts in Missouri, Elsewhere: $5B and Rising

The residents of the small riverside town of Mosby, Missouri, have become accustomed to watching floods swamp their streets, transform their homes into islands and ruin their floors and furniture. Elmer Sullivan has replaced his couch, bed and television. He’s …

from News – Insurance Journal http://bit.ly/2HPXhVX

Oklahoma Senate OKs Workers’ Comp Reforms; Bill Goes to Governor

The Oklahoma Senate has approved legislation that makes changes to Oklahoma’s workers’ compensation system that lawmakers say will preserve and strengthen reforms adopted in 2013. An increase in benefits paid to injured workers is included among the provisions of House …

from News – Insurance Journal http://bit.ly/2VNC4kq

Mississippi River’s Morganza Floodway May Be Opened for Third Time in History

A major barrier that keeps the Mississippi River in its current path may be opened for just the third time in its history, potentially flooding a large part of rural Louisiana. Concern is growing that heavy rains will cause the …

from News – Insurance Journal http://bit.ly/2JDyCHt

Gorst & Compass in California Names Mulford Senior Transportation Broker

Chatsworth, Calif.-based Gorst & Compass has named Kristi Mulford a senior transportation broker/underwriter. Mulford, who is based in San Marcos, has 18 years of commercial auto insurance experience. She was previously a broker with R.E. Chaix & Associates. She was …

from News – Insurance Journal http://bit.ly/2X2nBm3

Congress Agrees on $19 Billion Disaster Aid Bill with Flood Insurance Program Brief Extension

Lawmakers said that they agreed to a $19.1 billion disaster-aid bill after months of disagreement and that President Donald Trump said he will sign it. Senate Appropriations Chairman Richard Shelby called the agreement a “good deal.” He added that he …

from News – Insurance Journal http://bit.ly/2JYeRJX

This chart shows how chip stocks are ground zero for the trade war and are feeling the pain

Investors trying to get a gauge on the state of U.S.-China trade relations should look at shares of big chipmakers, according to Ned Davis Research.

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Interactive Brokers founder: I would not go into the summer with a long position in stocks

"That does not mean you have to sell your long positions," says billionaire Thomas Peterffy, suggesting investors hedge their stock holdings.

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At Least 3 Dead in Central U.S. Storms

A flooded Oklahoma on Wednesday was deluged once again following days of severe weather that’s blamed for at least three deaths after also battering Iowa, Kansas and Missouri, “The biggest concern is more rain. I mean, there’s more rain in …

from News – Insurance Journal http://bit.ly/2VK86NZ

Texas Insurance Department: Continuing Ed Service for Agents, Adjusters Improved

A year ago, it took months for insurance agents and adjusters to get continuing education transcripts, course credit and other information from the Texas Department of Insurance. Today, it takes about two weeks, according to the state agency. The improvement …

from News – Insurance Journal http://bit.ly/2X2mi6C

Texas Environmentalists Plan Pollution Lawsuit Against Valero

Three Texas environmental groups have notified Valero Energy Corp of plans to file a lawsuit under the U.S. Clean Air Act for pollution at the company’s Port Arthur, Texas, refinery, the organizations said. Environment Texas, the Sierra Club and the …

from News – Insurance Journal http://bit.ly/2HSvHr5

Attorneys Say Ohio State Must Reveal Who Knew About Abuse by Team Doctor

Administrators at Ohio State University should release the names of all coaches, trainers and personnel who knew of but failed to act on complaints about a now-dead team doctor who sexually abused male students for nearly two decades, said attorneys …

from News – Insurance Journal http://bit.ly/2VZ9q4x

South Dakota Judge Sides With Liberty Mutual in Bad Faith Dispute

A federal judge in South Dakota has dismissed part of a lawsuit filed by a couple who had to tear down their Sioux Falls house after a long-running dispute with their neighbors. Judge Roberto Lange recently granted Liberty Mutual Insurance’s …

from News – Insurance Journal http://bit.ly/2EuC0jw

Surplus Lines Insurance Bills Sent to Texas Governor

Legislation impacting the surplus lines insurance industry in Texas have been passed by state lawmakers and are headed to the governor’s desk, the Surplus Lines Stamping Office of Texas (SLTX0 reported. Both bills, HB 1306 and HB 1940 support the …

from News – Insurance Journal http://bit.ly/2EEmu51

Woman Who Claimed Abuse Was Ignored Reports Gets $1.7M

Washington state has agreed to pay $1.7 million to a woman who claimed social workers failed to investigate reports of neglect and sexual abuse three decades ago. The Seattle Times reported a judge signed off on the settlement to the …

from News – Insurance Journal http://bit.ly/30NSmxs

Colorado Refocuses Rules on Safety, Won’t Halt Drilling

Colorado officials said that they had no plans to stop energy companies from drilling for oil and gas while regulators overhaul state rules to make health, safety and the environment their top priority. Dan Gibbs, chief of the state Department …

from News – Insurance Journal http://bit.ly/2VLJ6Gi

Alaska Air Carrier Suspends Operations After 2nd Crash

An Alaska air carrier involved in two deadly floatplane crashes in a week has voluntarily suspended operations, federal officials said. The halt of flightseeing and commuter flights is in place indefinitely, according to the Federal Aviation Administration. The action comes …

from News – Insurance Journal http://bit.ly/2WXpgcE

Washington Couple Charged with Auto Insurance Fraud

Brittany Jones and Steven Jones, of Marysville, Wash., each were charged with one count of filing a false insurance claim in Snohomish County Superior Court on May 14. The charges stem from an auto insurance claim and follow an investigation …

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David Tepper converting hedge fund into a family office, returning outside capital

No timetable has been set on returning the money to outside investors in Tepper's Appaloosa Management, sources say.

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EPA Begins Rewrite of Rules on Costs, Benefits of Environmental Regulations

The Trump administration is planning to write new rules for how it weighs the human costs and benefits of environmental regulations, a move that could make it harder for future presidents to stiffen limits on pollution and combat climate change. …

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Growth in Construction, Freight Industries Has Been Good News for Inland Marine Insurance

The inland marine insurance segment has grown steadily in the past decade in tandem with increases in construction spending and the transport of goods, with direct premiums written nearly doubling to $24.5 billion in 2018 from $13.3 billion in 2009, …

from News – Insurance Journal http://bit.ly/2K0nsfo

A growing number of Chinese consumers are switching from Apple's iPhone, Hong Kong paper says

Huawei is winning over more and more Apple fans in China as the escalated trade tensions stoked "nationalist sentiment," according to South China Morning Post.

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Report Says Many New York City Uber, Lyft Drivers Fail to Respond to Recalls

One out of six Uber and Lyft drivers in the New York City and Seattle areas are driving vehicles with outstanding recalls, according to Consumer Reports. But taking a taxi or limousine isn’t necessarily a safer option: nearly a quarter …

from News – Insurance Journal http://bit.ly/2X14ngE

AXA XL Names Chiusano to Lead North America Property Insurance Team in Northeast

AXA XL, a division of AXA, has named Raymond Chiusano to lead its North America Property Insurance team’s Northeast region, based in New York. Chiusano is assuming the role currently held by Joseph Moylan, who announced his planned 2020 retirement. …

from News – Insurance Journal http://bit.ly/2Qk6ERi

Massachusetts’ Sullivan Insurance Group Hires Russell as a Principal

Sullivan Insurance Group has hired Peter Russell as a principal. Russell has worked in the insurance industry for more than 30 years and is responsible for the management of client insurance and risk management programs, as well as new business …

from News – Insurance Journal http://bit.ly/2HOAqKj

Jimcor Agency Hires Burke in Massachusetts

Jimcor Agency Inc., a Montvale, N.J.-based independent managing general agent and insurance wholesaler, has hired Joshua Burke in its Hopkinton, Mass., location as it seeks to expand its footprint in the New England region. Prior to joining Jimcor Agencies, Burke …

from News – Insurance Journal http://bit.ly/2WW2ZMd

‘Phone Becomes Car’ as Ride-Hailing Services Promote Vehicle Sharing Over Ownership

Ride-hailing apps like those of Uber Technologies and Lyft Inc. are expected to alter the state of car ownership towards subscription-based services and shared ownership, auto industry experts said at a conference on Wednesday. At the annual Collision Conference in …

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Here are the biggest analyst calls of the day: Target, Uber, Apple, Ferrari & more

Here are the biggest calls on Wall Street on Thursday

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Parties Differ on Data Privacy Legislation Over Liability, Duty of Care

Three Democratic senators helping write a privacy bill are seeking to allow individuals to sue companies for mishandling their data, according to Republican Senator John Thune. The measure would raise the burden on businesses and could imperil Congress’s ability to …

from News – Insurance Journal http://bit.ly/2M5pq0k

Bankruptcy Judge Approves PG&E $105 Million Assistance Fund for Wildfire Victims

PG&E Corp. may set up a $105 million housing fund for victims of 2017 and 2018 wildfires in California, which set records for devastation and were blamed on the utility’s equipment, the judge overseeing the bankruptcy of the investor-owned power …

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Chipotle downgraded because of rising pork price due to African swine fever

Chipotle Mexican Grill is about to take a hit from rising prices due to African swine fever, according to BMO Capital Markets.

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EU’s Landmark Data Privacy Law, GDPR, Already Is Providing a Global Standard

A landmark European privacy law is making waves worldwide a year after it came into force, fundamentally changing the way data are handled as Facebook, Apple and Google face increasingly frequent complaints. Adopted on May 25 last year, the General …

from News – Insurance Journal http://bit.ly/30HsVh5

Target upgraded by JP Morgan as the retailer is proving safe from Amazon 'boogeyman'

J.P. Morgan upgraded its rating on the stock from neutral to overweight and hiked its target price from $81 to $100.

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Tesla shares set to fall for a seventh straight day as more analysts warn of trouble

Tesla was set for its seventh straight day of losses after more analysts joined the growing list of those concerned with its finances.

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Alternative meat to become $140 billion industry in a decade, Barclays predicts

Analysts at Barclays "can't believe it's not meat," projecting huge growth for the nascent alternative food industry over 10 years.

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UBS cuts Apple price target, citing smartphone slowdown and ongoing trade war

UBS lowered its price target on the iPhone maker from $235 to $225.

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The top-performing hedge funds are buying GE, Facebook, Biogen and these other stocks

Under-the-radar hedge-fund managers beating the market are betting on big comeback stories General Electric and PG&E, as well as Biogen.

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Feinberg Named Mediator for Bayer Roundup Liability Settlement

A U.S. judge on Wednesday appointed prominent attorney Kenneth Feinberg as mediator for court-mandated settlement talks in the federal litigation over allegations that Bayer AG’s glyphosate-based Roundup weed killer caused cancer. Feinberg has been instructed to meet with lawyers for …

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Clyde & Co. Launches Connected Parametric Insurance Contract

Global law firm Clyde & Co has launched an off-the-shelf connected parametric insurance contract for use by insurers through its smart contract consultancy, Clyde Code. “A connected contract is a digital agreement which links external software systems and data sources …

from News – Insurance Journal http://bit.ly/2M3tNJu

Why cyber security ecosystems are key to success in this fast-emerging insurance market

In this blog series Accenture’s Max Richter examines how collaboration and innovation will play a critical role in tackling an ever-changing cyber risk landscape; and why London combines all the elements needed for a world-class cyber security ecosystem. Cyber Insurance: Huge growth opportunities for forward-thinking insurers Cyber risks pose some of the biggest threats facing…

Why cyber security ecosystems are key to success in this fast-emerging insurance market

from Accenture Insurance Blog https://accntu.re/2JBdaTg

Argo Shareholder Voce Ends Battle over Board Members, Alleges ‘Underhanded Tactics’

An activist Argo shareholder that had accused the insurer of extravagant spending and other corporate missteps has ended its battle to nominate a slate of new board members. Voce Capital Management said on May 21 it has withdrawn its nominations …

from News – Insurance Journal http://bit.ly/2WizMhv

Verisk Reorganizes Geomni Business to Enhance UK and Europe Solutions

Verisk’s GeoInformation Group, a provider of geospatial products, has been folded into Verisk’s Geomni business and renamed Geomni UK. The addition of Geomni UK to Verisk’s Geomni business will enhance its offering for customers in the UK and Europe, said …

from News – Insurance Journal http://bit.ly/2VG7KYV

Liberty Mutual Reinsurance Launches Operation Using Lloyd’s Mexico Platform

Liberty Mutual Reinsurance the reinsurance arm of Liberty Specialty Markets, announced it has launched a reinsurance operation under Lloyd’s registration in Mexico to serve clients in Mexico and Central America. The operation will be headed up by Rosa Flores, general …

from News – Insurance Journal http://bit.ly/2VJPbTs

Reinsurer SCOR Acquires Fund Manager Specializing in Insurance Linked Securities

French reinsurer SCOR said it had agreed to buy 100% of Coriolis Capital, an asset manager specialized ininsurance-linked securities, for an undisclosed amount. Coriolis Capital invests mainly in natural disaster bonds, options, collateralized reinsurance and climate derivatives. SCOR said the …

from News – Insurance Journal http://bit.ly/2WmlJHC

Allianz Invests in Canadian Robo Adviser Wealthsimple, Leading $75M Funding Round

Wealthsimple, the Canadian robo adviser company controlled by Power Financial Corp., is gaining another behemoth shareholder as it slowly gears up for an initial public offering. Allianz X, the tech investment fund of Munich-based insurer and asset manager Allianz SE, …

from News – Insurance Journal http://bit.ly/2Hx4Wt9

AXA XL Promotes Gauder in Illinois to Lead North Central Region

AXA XL has promoted Brian Gauder to lead its North Central region out of Chicago, Ill. AXA also named Raymond Chiusano to lead its North America property insurance team’s Northeast region out of New York. Chiusano is assuming the role …

from News – Insurance Journal http://bit.ly/2VXEbac

Sand-Bag Barrier in Mississippi Overwhelmed by River Flooding

Floodwaters overwhelmed a miles-long sandbag barrier over the weekend, drenching another community in the southern end of the Mississippi Delta. Volunteers, prisoners and others had stacked 100,000 sandbags and more than 600 wire flood-control baskets, trying to keep water out …

from News – Insurance Journal http://bit.ly/2HLIuLZ

HSB Launches Cyber Insurance Endorsement for Farmers

Hartford Steam Boiler (HSB) has launched a new HSB Farm Cyber Insurance product designed to protect farmers and farm technology from hackers, malware and other cyber attacks. According to James Hajjar, who leads the cyber practice for HSB’s reinsurance client, …

from News – Insurance Journal http://bit.ly/2JYUUCX

Fed minutes signal patience on rate moves Fed minutes signal patience on rate moves

Many participants viewed the recent easing in inflation as likely to be transitory.

from MF-Economic Times http://bit.ly/2X0XGv5
#MF #MutualFund

Indian shares zoom as early trends show second-term for PM Modi Indian shares zoom as early trends show second-term for PM Modi

Indian shares surged to record highs on Thursday morning, as early trends showed NDA was way ahead of UPA.

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#MF #MutualFund

Mississippi Seeks to Reduce Rising Fire Deaths with Free Smoke Alarms

The Mississippi Fire Marshal’s office is giving away smoke alarms to try to reduce fire deaths. Mike Chaney is the state insurance commissioner and fire marshal. He says having a smoke alarm can cut the risk of fire death in …

from News – Insurance Journal http://bit.ly/2HwSDgE

North Carolina Department of Insurance Releases Smartphone App for Agents

The North Carolina Department of Insurance has released a smartphone app for insurance agents offering information such as educational opportunities, NCDOI agent services contact info, and agent notifications from the department. The new MyDOi smartphone app went live May 22, …

from News – Insurance Journal http://bit.ly/2HS3z7d

Willis Towers Watson Appoints 8 to Florida Risk Management Operations

Willis Towers Watson has made a series of personnel appointments across its Corporate Risk and Broking (CRB) operations in Florida. CRB’s has focused on delivering innovative products to clients with an emphasis on the real estate, construction, health care and …

from News – Insurance Journal http://bit.ly/2YOBvJ7

Sebi probing if mutual funds did bond deals to prop up returns Sebi probing if mutual funds did bond deals to prop up returns

Move comes in the wake of allegations that funds are doing friendly deals with each other to boost, suppress valuations

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#MF #MutualFund

SpaceX lawsuit challenges Air Force rocket awards to competitors including Jeff Bezos' Blue Origin

A previously secret lawsuit filed by SpaceX was revealed on Wednesday.

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Tennessee Joins Federal Lawsuit Against Generic Drug Makers

Tennessee has joined a federal lawsuit in Connecticut against 20 generic drug manufacturers, alleging manipulation of prices. State Attorney General Herbert Slatery’s office says in a release that the drugs treat diseases and conditions including basic infections, diabetes, cancer, epilepsy, …

from News – Insurance Journal http://bit.ly/2JEujf9

Kentucky Marina Damaged by Large Fire

A large fire has damaged a Lake Cumberland marina in southern Kentucky. News outlets report the fire at Conley Bottom Resort in Monticello started around 2 a.m. Monday. Firefighters say no one was injured. Marina co-owner Freddie Piercy told WKYT-TV …

from News – Insurance Journal http://bit.ly/2werMzy

Charter Bus Collision in Florida Injures 34

Authorities say two charter buses carrying Florida children with learning disabilities crashed, sending 34 people to a hospital with minor injuries. The Tampa Bay Times reports 91 children and seven adults were traveling in the buses that collided Friday in …

from News – Insurance Journal http://bit.ly/2JVrkOx

Cramer urges investors to give new Lowe's CEO more time to fix things as shares plummet

Investors are writing off Lowe's new CEO Marvin Ellison, "but he's been there for five minutes," says CNBC's Jim Cramer.

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Guggenheim names Anheuser-Busch a 'best idea' on its shift away from traditional brands

Shifting focus to Michelob Ultra from Bud Light, a strong innovation pipeline, and premiumization across the portfolio have increased Guggenheim's conviction in Anheuser-Busch's growth trajectory.

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Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

Analysts urged clients to adjust their portfolios over Huawei concerns.

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Active managers are beating the market again and Goldman has a strategy to ride their coattails

Active managers are having a breakout year and Goldman Sachs has a way to mirror their strategy.

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What Might Happen If Congress Fails to Renew Terrorism Reinsurance Program

The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is set to expire in Dec. 31, …

from News – Insurance Journal http://bit.ly/2MhaQDp

Testimony Ends in Texas Suit over Harvey-Related Overflow Dams, Floods

Testimony has ended in the lawsuit by some Texas residents seeking U.S. government compensation after their land flooded when two federally owned reservoirs overflowed during Hurricane Harvey. Testimony wrapped up Friday in Houston, and Judge Charles Lettow of the U.S. …

from News – Insurance Journal http://bit.ly/2w9SkSr

The Hilb Group Acquires The Keane Insurance Group in Missouri

The Hilb Group LLC has acquired Missouri-based The Keane Insurance Group Inc. The transaction became effective May 1. Terms were not disclosed. KIG’s associates and John Keane, the agency leader, are joining THG under their existing name and will continue …

from News – Insurance Journal http://bit.ly/2weeLpG

McDonald’s Workers in Chicago Asking OSHA to Look into Pattern of Violence

Every 36 hours on average, American local news outlets deliver a new report on violence at a McDonald’s. A group of employees in Chicago say workers bear the brunt of such incidents, enough to constitute a pattern of regular on-the-job …

from News – Insurance Journal http://bit.ly/2VVFJ4F

Small Quake Confirmed off Oregon’s Pacific Coast

The U.S. Geological Survey confirmed a magnitude 3.7 earthquake hit along Oregon’s Pacific coast. The agency says the earthquake struck a spot 1.3 miles southwest of Rose Lodge, a town of about 1,900 people, at 9:23 a.m. Sunday. The earthquake …

from News – Insurance Journal http://bit.ly/2HJzKG5

New Hampshire Governor Signs Workplace Safety Bill

New Hampshire Governor Chris Sununu was surrounded by the family of a deceased highway department worker as he signed a bill aimed at improving workplace safety for New Hampshire’s public sector employees. Tom Wooten, of Belmont, was working for the …

from News – Insurance Journal http://bit.ly/2JxP5g9

University of Alaska, Former Professor Sued over Sexual Misconduct Allegations

A lawsuit has been filed against a retired University of Alaska Anchorage anthropology professor who is banned from campus over sexual misconduct allegations by multiple women. David Yesner is named in the federal lawsuit filed Wednesday along with The University …

from News – Insurance Journal http://bit.ly/2K2A05A

Hawaii Condo Owners Suing Building Contractor

Members of a Hawaii condominium association have filed a lawsuit saying the building is unsafe and uninhabitable. The Honolulu Star-Advertiser reported that the lawsuit filed by owners of units in the 3-year-old Waiea tower in the Kakaako neighborhood of Honolulu …

from News – Insurance Journal http://bit.ly/2Jy7Xvt

California Legislature Mulling Electric Scooter Regulation

The California Assembly has approved new rules for electric bikes and scooters. Businesses like Bird and Spin have deployed scooters to cities across California and the country in recent years. Often local governments have not set up permits or regulations …

from News – Insurance Journal http://bit.ly/2wffN4K

Treasury Secretary Steven Mnuchin spoke with Walmart's CFO about sourcing products away from China

Treasury Secretary Steven Mnuchin said he's spoken with a top Walmart executive about how it can keep prices low amid the U.S.-China spat.

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Employee Charged with Stealing $900K from New Jersey Insurance Broker

A former accounting specialist in the Ridgefield Park, N.J., office of an insurance broker was arrested and charged with allegedly defrauding her employer of approximately $900,000, Acting U.S. Attorney William E. Fitzpatrick announced. Violeta McGough, 55, of Bergenfield, N.J., has …

from News – Insurance Journal http://bit.ly/2HvBrrD

WCRI: Average Total Cost of Penn. Workers’ Comp Claims Highest of Studied States

The average total cost of a Pennsylvania workers’ compensation claim is among the highest of 18 states studied, with litigation costs a key driver of higher overall benefit delivery expenses, according to a recent study by the Workers Compensation Research …

from News – Insurance Journal http://bit.ly/2WdMEFC

Apple's earnings would drop by nearly 30% if China bans its products, Goldman Sachs says

The U.S.-China trade war could take a big chunk out of Apple's bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs.

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Short sellers are to blame for the drop in Tesla's stock, Bank of America claims

Tesla's fall is likely due to more short sellers betting against the company, priming shares for a sharp move upward, Bank of America said.

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Saudi oil giant Aramco strikes deal to buy US natural gas from Sempra Energy

The agreement would see Aramco buy 5 million tons of LNG per year from Sempra's Port Arthur, Texas export terminal.

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25 New Sexual Harassment Complaints Brought Against McDonald’s

McDonald’s Corp. was accused on Tuesday in 25 new lawsuits and regulatory charges of condoning sexual harassment in the workplace and retaliating against employees who speak up. The cases announced by the American Civil Liberties Union (ACLU), the labor group …

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Here are the biggest analyst calls of the day: Tesla, Anheuser-Busch, Activision Blizzard & more

Here are the biggest calls on Wall Street on Wednesday

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Another analyst just put out a shocking bear case for Tesla: Citi sees chance stock drops to $36

Morgan Stanley caused a stir on Tuesday when it put a "bear case" scenario of $10. Now Citi is getting in on the act.

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AGCS Offers Crisis Management Response Services with Its Pollution Liability Cover

Allianz Global Corporate & Specialty (AGCS) announced it is offering expanded emergency response services as part of its Environmental Impairment Liability (EIL) coverage when pollution and/or contamination events occur. AGCS has formed strategic partnerships with GM Consultant (global) and HETI …

from News – Insurance Journal http://bit.ly/2wePf3m

Generali in Early Negotiations to Buy MetLife’s Central European Assets: Sources

Assicurazioni Generali SpA is in early talks to buy the Central European assets of MetLife Inc. as the Italian insurer seeks to expand through acquisitions in high-growth markets, according to people with knowledge of the matter. The business may be …

from News – Insurance Journal http://bit.ly/2VVH7nQ

Chemical Multinationals Must Stop Cutting Corners in Sourcing: Report on China Blast

A prominent Chinese environmental group has called on chemicals multinationals to stop “cutting corners” by outsourcing business to Chinese suppliers that violate safety regulations after an investigation into a deadly explosion at a factory in March. In a new study, …

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Fairfax Announces Death of CFO Bonham; Varnell Named Interim CFO

Fairfax Financial Holdings Ltd. announced that, David Bonham, vice president and chief financial officer of Fairfax, died suddenly this past weekend. “The entire Fairfax family mourns the sudden and unexpected loss of our dear friend and partner, Dave Bonham,” said …

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Oil Tankers in the Persian Gulf Face Highest Risk Since 2005

Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. The Joint War Committee of London’s Lloyd’s Market Association said Friday that it would expand its so-called “listed areas” — those regions …

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Armour Group Appoints Parry from Lloyd’s as Group Chief Financial Officer

Bermuda-based Armour Group Ltd. announced the appointment of John Parry as group chief financial officer. Parry will assume his new position in June and report directly to the group executive committee. A seasoned senior financial services executive with extensive insurance …

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Wood-Panel Producer Norbord Halts Mill Production Following Alberta Wildfires

Norbord Inc said on Tuesday it suspended production at its oriented strand board (OSB) mill in High Level, Alberta, to comply with evacuation orders following nearby wildfires. More than 4,000 people from High Level and the Bushe River First nations …

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Instec Promotes Fagan to President of Operations

Naperville, Illinois-based Instec, a provider of insurance software for commercial program and specialty writers, has promoted Mike Fagan to president of Operations. Most recently, Fagan was vice president of Engagement and Product Management. In his new role, Fagan will lead …

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Valentine Named Sr. VP, Chief Insurance Officer for Farmers Alliance Companies

Aaron Valentine has been named senior vice president, chief insurance officer for the Farmers Alliance Companies in McPherson, Kansas. This is a new position at the companies, added to ensure the proper organizational structure to support the companies’ future. Valentine …

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Company Cited, Fined $106K After Employees Injured in Nebraska Trench Collapse

Federal safety officials cited an excavation company after two employees suffered serious injuries when a trench collapsed at a construction site in Lincoln, Nebraska. The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) also proposed penalties of $106,078 …

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Brinson, Myers, Milvo Named to Texas Surplus Lines Office Board

Teri Brinson, Randy Myers and Leslie Milvo have been named to the Surplus Lines Stamping Office of Texas (SLTX) board of directors, with three-year terms set to run through Dec. 31, 2021. Brinson is vice president at LP Risk Inc. …

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Texas House OKs Bill to Spend More Than $3B for Flood Control Projects

Nearly two years after Hurricane Harvey ravaged the Texas coast, the Texas House approved legislation that would pull more than $3 billion from the state’s rainy day fund to help pay for flood control projects statewide. The House version of …

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Johnson & Johnson Hit with $25 Million Talc Verdict; Also Cleared by Another Jury

Johnson & Johnson was ordered to pay at least $25 million to a woman who said she contracted a rare asbestos-related cancer through decades of daily use of J&J’s Baby Powder or its other talc product, Shower to Shower. The …

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Boeing Sued in U.S. for $276 Million Over Ethiopian Crash by French Widow

A French woman whose husband died in the crash of a Boeing 737 MAX airliner in Ethiopia has filed a U.S. lawsuit against the planemaker, seeking at least $276 million in damages. The crash of Ethiopian Airlines flight 302 in …

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Only 55% of AIG Shareholders OK $21 Million Compensation for CEO Duperreault

American International Group Inc. said shareholders approved a $21 million pay package for Chief Executive Officer Brian Duperreault by only a narrow margin during the company’s annual meeting on Tuesday. A non-binding resolution to endorse the firm’s executive compensation received …

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Selective Insurance Launches Auto Recall Alert System

Selective Insurance Company of America, the lead insurance company of Selective Insurance Group, Inc., is working with its independent insurance agency partners to help customers become aware of recalls affecting their vehicles through notifications from its new Recall Alert System. …

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Baldwin Promoted to CEO of Florida-Based Baldwin Risk Partners

Baldwin Risk Partners (BRP), a Tampa, Fla.-headquartered insurance distribution and consulting holding company, has appointed Trevor Baldwin as chief executive officer. He will take over for Lowry Baldwin, who will maintain an active role in the organization as chairman and …

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North Carolina Insurance Fraud Round-Up: April

The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of April 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North Carolina Insurance Commissioner Mike Causey, fraud costs North Carolinians …

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Deutsche Bank stands by its call for a 30% return on the S&P this year, the highest on Wall Street

Binky Chadha, chief equity strategist at the firm, expects the market to pull back over the next three months before quickly bouncing back up.

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Stock picking is making a comeback with nearly half of managers beating the market

Stock pickers are having their best year in a decade, according to Bank of America Merrill Lynch.

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Hiscox Enhances Security Incident Response Product for Businesses

Hiscox has enhanced its Security Incident Response (SIR) product to provide additional protection for ‘business integrity risks’ including corruption and fraud. The new SIR policy also includes cover for expenses incurred by a business when dealing with an insured event. …

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West Virginia Fines Pipeline Builder $266K for Environmental Violations

The West Virginia Department of Environmental Protection and Mountain Valley Pipeline have agreed the latter will pay $266,000 for environmental violations dating back to April 2018. The Charleston Gazette-Mail reports the consent agreement dated April 19 was made public last …

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