News

CDI: Trucking Company Owners Cheated Workers’ Comp Carrier out of Millions

A pair of California trucking company owners were arrested for cheating their worker’s compensation insurer out of millions of dollars. Alvin Shin Chen, 54, and Fiona Xilin Chen, 46, both of La Cañada Flintridge, Calif., were arrested this week at …

AAIS Offers Its First Personal Auto Program for Insurers; Includes 60 Endorsement Options

The property/casualty insurance advisory organization AAIS has unveiled its first standardized personal auto insurance program for use by insurers that it says is the first new auto program available to the industry in decades. The American Association of Insurance Services …

NCCI Sees Stable Trends in New England

The National Council on Compensation Insurance says it is seeing generally stable trends in Connecticut, Maine, New Hampshire, Rhode Island and Vermont — five New England states where NCCI serves as a licensed rating and statistical organization. “Overall, the NCCI …

Beecher Carlson Hires Miller as Managing Director in NYC

Beecher Carlson Insurance Services, a specialized large account risk management broker and a wholly-owned subsidiary of Brown & Brown Inc., has hired Megan Miller as managing director.

Honolulu Rail Project at Risk of Flood Damage

A group of residents is prepared to take Honolulu, Hawaii officials to court over the city’s multibillion-dollar rail project because of concerns that the rail could be vulnerable to flood damage. The Honolulu Star-Advertiser reported the “Do Rail Right” group …

EPA Nails Tesoro’s Washington Oil Refinery for Safety Violations

The U.S. Environmental Protection Agency has fined the Tesoro oil refinery in Anacortes, Wash. nearly $720,000 for alleged safety violations. The EPA said last week it filed a complaint seeking penalties for violations found during two facility inspections in 2011. …

Marsh Reports Q1 Growth of 2%; Guy Carpenter 3%

Global insurance, risk and consulting firm Marsh & McLennan Companies Inc. reported growth across all of its companies in for the first quarter ended March 31, 2016. Consolidated revenue in the first quarter of 2016 was $3.3 billion, an increase …

French Startup Drivy (‘Airbnb for Cars’) Raises $35M to Expand; Insured by Allianz

Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued expansion across Europe. Already operating …

Volvo to Launch Autonomous Driving Trial in London in 2017

Swedish car maker Volvo will begin an autonomous driving trial in London in 2017. Called “Drive Me London,” the UK trial will use real families in semi-autonomous cars. Starting with a handful of AD cars next year, the trial will …

Republicans Call for State Pools to Replace Obamacare Safeguards for Sickest Insureds

U.S. House of Representatives Speaker Paul Ryan called on Wednesday for an end to Obamacare’s financial protections for people with serious medical conditions, saying these consumers should be placed in state high-risk pools. In election-year remarks that could shed light …

News Archives by Month