Yearly Archives: <span>2017</span>

Alera Group Acquires Pennsylvania’s West Park Insurance and Risk Management

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired West Park Insurance and Risk Management of Allentown, Penn. Formed in 2002, West Park Insurance and Risk Management provides clients with business, medical …

NYWCA Launches Campaign to Stop Cuts to Injured Worker Benefits

The New York Workers’ Compensation Alliance (NYWCA) has launched a campaign to fight proposed Workers’ Compensation Board (WCB) regulations and impairment guidelines that it says would drastically cut compensation awards for injured workers. In the New York State budget that …

Workers’ Compensation Insurers Report Slow Growth: A.M. Best

The workers’ compensation industry reported a record high $58.5 billion in direct premiums written in 2016 but year-after-year growth slowed for the first time in five years. According to an A.M. Best report, the deceleration in growth was due largely …

Startupbootcamp Launches Insurtech Accelerator in Hartford

Startupbootcamp, a London-based insurance accelerator that focuses on identifying globally-located disruptive and collaborative insurance and technology innovations, has announced the launch of its new InsurTech Accelerator in Hartford, Conn., designed specifically to rapidly scale insurance-focused technology startups. The InsurTech Accelerator, …

City of Hartford’s Rating Sinks Deeper Into Junk; Agencies Cite Possible Default

Hartford, Connecticut’s cash-strapped capital city, suffered a fresh round of credit rating downgrades deeper into junk territory by two Wall Street credit agencies on Tuesday, a day after the city’s bond insurers said they were open to debt restructuring. The …

Does ALE Coverage Include Cost to Evacuate?

Since the first forecasts showed Hurricane Harvey approaching Texas to the impact of Hurricane Irma in the Florida Keys, millions of people were ordered, recommended and asked to evacuate their homes. That gave rise to one question over and over. …

Allianz Partners with Cyence to Expand Capabilities in Cyber Risk Analysis

Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has teamed up with San Mateo, Calif.-based cyber risk analytics and modeling firm Cyence to boost its global cyber risk analysis capabilities. Cyence’s cyber analytics …

Japan Court Rules Tepco, not Government, Must Pay $3.4M to Ex-Fukushima Residents

A Japanese court ruled Friday [Sept. 22] that a utility, not the government, should pay compensation to dozens of former residents of Fukushima for losses to their livelihood caused by reactor meltdowns at a nuclear plant after a massive earthquake …

China’s Former Insurance Regulator Faces Criminal Charges

China’s top anti-corruption agency says the country’s former insurance regulator has been expelled from the ruling Communist Party and turned over to prosecutors to face criminal charges. A weekend statement by the Central Commission for Discipline Inspection says Xiang Junbo …

Mexico Calculates Economic Cost of Quake; Insurance Covers Small Part of Losses

Mexican government officials are still tallying up the economic losses of the magnitude 7.1 earthquake that caused widespread damage in the capital, but for the manager of a downtown restaurant it is already all too clear. Sitting in the entrance …