National News

Big ‘I’ Agents Promote McPhillips to Lobbying Team

The Independent Insurance Agents & Brokers of America (Big “I”) has promoted Jennifer McPhillips to vice president for federal government affairs. McPhillips first joined the Big “I” team in 2006 after working for Rep. Leonard Boswell (D-Iowa). She has climbed …

Massive Yahoo Breach Happened 2 Years Ago

Yahoo Inc. said on Thursday that at least 500 million of its accounts were hacked in 2014 by what it believed was a state-sponsored actor, a theft that appeared to be the world’s biggest known cyber breach by far. Cyber …

R&Q Acquires U.S. Sports Captive Insurer in Runoff

London’s Randall & Quilter Investment Holdings Ltd. said it has acquired United States Sports Insurance Co., a wholly owned captive insurer of USA Swimming Inc. for $2.1 million. The company being acquired was incorporated originally under the laws of Barbados …

Judge Claims Facebook Not Taking Terrorism Threat Seriously

A federal judge slammed Facebook Inc., saying the social media giant might not be doing enough to deter terrorists from using its platform. U.S. District Judge Nicholas Garaufis in Brooklyn, New York, also accused Facebook’s lawyers — by sending a …

What Climate Change Has to Do with Earthquakes, Volcanoes and Tsunamis

Climate change will cause more earthquakes. It’s as simple as that. Deniers, start your engines. If that isn’t enough to enflame the smoldering embers of discourse within those ready to pounce on any and all climate change notions they deem …

National Flood Insurance Program Buys Private Reinsurance, Plans More in 2017

The federal government has contracted with private reinsurers to improve the National Flood Insurance Program’s claims paying ability and reduce the need for the NFIP to borrow from the U.S. Treasury to cover future claims. The Federal Emergency Management Agency …

Home Insurers, Agents Face Satisfaction Gap with Affluent Gen Y Customers

Overall, home insurers are performing better in customer satisfaction as they compete more on improving the customer experience than on price. However, there is one up-and-coming affluent consumer group — the Gen Y generation or those ages 22 to 39— …

Burns & Wilcox Names CRC’s Fuhrman to Retail Agency National Relationship Post

H.W. Kaufman Financial Group and Burns & Wilcox announced that Marc Fuhrman will join the firm in a new role as national relationship manager. Fuhrman, based in Los Angeles, formerly served as senior vice president of National Agency Relations at …

New MGA Verve to Target Liability Market for Insurance Agents, Insurers in U.S.

Newly-launched managing general agency Verve Risk Partners plans to target U.S. professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers. The London-based MGA has been launched by Castel Underwriting Agencies Limited, a …

U.S. Autonomous Vehicle Policy Attempts to Straddle Lanes of Safety and Innovation

The new U.S. policy on self-driving cars received a mixed reaction from highway-safety advocates who acknowledged the life-saving potential though warned of a world of “human guinea pigs.” The Transportation Department’s new guidelines give carmakers and states “the green light …

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