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Illinois Places Public Service Insurance Co. into Rehabilitation

The Illinois Department of Insurance reported that Public Service Insurance Co. (Public Service) and its parent corporation Public Service Mutual Holding Co. have been placed into rehabilitation. Policies will continue in force and policyholder claims will continue to be paid …

Pinnacol Issues $50M in Workers’ Comp Dividends to Colorado Employers

Colorado workers’ compensation insurer Pinnacol Assurance is distributing $50 million in dividend checks this month to its policyholders. More than 53,000 employers throughout the state — roughly 94.2 percent of the company’s policyholders — will receive a dividend in recognition …

Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance

Swiss Re announced that Mike Mitchell, currently head Property Underwriting and Property & Casualty Facultative, Asia, will succeed Edouard Schmid as Swiss Re’s head Property & Specialty Reinsurance, effective July 1, 2017. He will also serve as a member of …

R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer

Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive was not released. The company, …

Supreme Court OK with Delay in Bringing Patent Infringement Suits

A U.S. Supreme Court ruling on Tuesday in a lawsuit over adult diapers will make it more difficult for companies accused of patent infringement to shoot down lawsuits because the plaintiffs waited too long to bring them. In a 7-1 decision, the justices …

RSA Begins Trading on London Market Placing Platform, PPL

International insurer RSA has begun trading on the London insurance market’s electronic placing platform, PPL (Placing Platform Ltd.), which enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system. RSA’s Profin underwriting team is now …

Backers of Legal Pot Urge Massachusetts Panel to Hold Off on Changing Law

Backers of legalized recreational marijuana urged Massachusetts legislators Monday to hold off, at least for now, on making any significant changes to a law voters approved in November. The appeal came during the first public hearing held by a special …

From Fiduciary Rule to Overtime: What to Expect from Trump Labor Nominee Acosta

By the time President Donald Trump’s first nominee for labor secretary withdrew from consideration, there was little doubt where he stood on the big issues facing the department. In contrast, his replacement, Alexander Acosta, heads into his hearing Wednesday with …

Virginia Governor Signs Bill Giving $1.55M to Exonerated Man

Virginia Gov. Terry McAuliffe has signed a bill to provide $1.55 million to a man who spent more than three decades in prison for a crime he didn’t commit. Keith Allen Harward was released from prison in April 2016 at …

Technology Being Blamed for Driving Up Massachusetts Car Insurance Rates

Auto insurance rates in Massachusetts are on the rise and technology is to blame. Industry experts tell The Boston Globe that drivers distracted by smartphones are crashing more often and those cars are now more expensive to repair because they’re loaded …

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