insurance News

Former Insurance Agent Arrested in Alleged $21M Movie Investment Scheme

A former insurance agent one of two people who have been charged with operating a Ponzi scheme allegedly bilking investors from Los Angeles and Kern Counties out of $21 million dollars. Michelle Kenen Seward, 42, of Flintridge, surrendered to authorities …

Three Northern California Firms Rebrand to ‘Risico’

Three jointly-owned insurance firms in Northern California are merging into a united corporate identity known as “Risico.” The firms involved are KRM Risk Management Services Inc., American All-Risk Loss Administrators Inc. and Total Managed Care Inc. All three specialize in …

Utah City’s Basements Flood After Large Reservoir Leak

Residents of Ogden, Utah have been facing flooded basements since June, but the area-irrigation water supplier may have found the problem: a leak in a nearby reservoir. The Standard-Examiner reported that the general manager of Pineview Water Systems says crews …

Knievel Sobriety Jump in Montana Grounded Over Insurance Concerns

Lack of insurance has grounded Robbie Knievel’s jump over 26 cars in Montana to celebrate his newfound sobriety following a fourth DUI arrest. The Montana Standard reports the jump was planned over a Butte bar, but was moved over insurance concerns. …

Nevada School District to Settle Insurance Broker Suit for $1.65M

The Clark County School District in Nevada says it will pay a former insurance broker $1.65 million to settle a lawsuit that claimed the public agency ended the broker’s contract prematurely. Business Benefits Inc. sued the district in May 2014 …

Report Sees Major Food Shortage as Climate Change Danger

Climate change reports and studies abound lately – as you will note from a previous column – but one recent report gives potentially the starkest prediction yet of what impacts climate change could have. The report from Lloyd’s of London, “Food …

Nevada School District to Settle Insurance Broker Suit for $1.65M

The Clark County School District in Nevada says it will pay a former insurance broker $1.65 million to settle a lawsuit that claimed the public agency ended the broker’s contract prematurely. The Las Vegas Sun reported at the time that …

Rotted Beams Identified In Deadly Northern California Balcony Collapse

A balcony that snapped off an apartment building and led to the deaths of six college students was supported by wooden beams that had been badly rotted by exposure to moisture, building inspectors in Berkeley, Calif., said. The city Building …

World Cup Insurers Face Many Claims, Disputes Over Russia, Qatar

World Cup insurers are likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments because of fraud, industry experts said. Russia and Qatar could be stripped of their World …

Hiscox Appoints Worth as Interim CFO

Bermuda-based Hiscox announced that John Worth will join the company on June 22, and, subject to regulatory approval, will be appointed interim chief financial officer with effect from September 1, 2015. Worth’s appointment is designed to provide continuity in oversight …