Monthly Archives: <span>October 2018</span>

Stephens Insurance Adds 4 in Management Positions in Texas

Stephens Insurance LLC an independent, financial services firm, has hired Chris Hawkins as senior vice president, Robert Mann and John Rhodes as vice presidents, and Kevin Yandell as claims coordinator. All four are located in Texas. Hawkins will lead the …

Transit Authority in Washington Settles Bus Fatality for $7.7M

King County Metro Transit in Washington has apologized and made a multimillion-dollar payment to the family of an Amazon employee who was killed last year by a turning bus. The Seattle Times reports 43-year-old John Ahn had finished dinner with …

Mercury General in California Reported 3Q Income of $58.6M

Mercury General Corp. reported third-quarter net income of $58.6 million. On a per-share basis, the Los Angeles-based insurance carrier said on Monday it had profit of $1.06. Earnings, adjusted for investment costs, were $1.11 per share. The auto insurance company …

What’s Happening and What Lies Ahead for P/C Insurance Pricing: Moody’s

The current pricing environment for property/casualty insurers is “modestly positive,” with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property rates rising by low-to-mid-single digits, and commercial casualty rates showing smaller changes, according to a …

Former Pastor Sentenced to Prison for Setting Fire to Apartment in Insurance Scam

The former pastor of a Baltimore, Md., church has been sentenced to three years in prison for setting fire to an apartment he rented in Southeast Washington in a plan to collect insurance money. The announcement was made by U.S. …

UK Insurers, Brokers Applaud Government’s Decision Not to Hike Premium Tax

UK insurers and brokers have applauded the UK Treasury’s decision not to raise premium taxes, which currently has an annual price tag for each household of an average of £200 ($256.40), according to the Association of British Insurers (ABI). The …

Utility to Miss Deadline for Restoring Gas After Massachusetts Explosions

The utility involved in a series of natural gas explosions and fires in three Massachusetts communities last month acknowledged Friday it would not meet its original Nov. 19 deadline for restoring gas service to all its customers. Columbia Gas set …

Virginia Lawsuit Seeks $350K for Injuries in Game of Tag in Gym Class

Local Virginia education officials have been sued over a game of tag played in gym class by a student who says it caused him serious long-term injuries. The Virginia-Pilot reports Javonte Smith and his father sued this month in Chesapeake …

Supreme Court Looks to Favor Business Arbitration with Individuals Over Courts

U.S. Supreme Court justices signaled on Monday they may issue more pro-business rulings giving companies wide latitude to use arbitration to resolve disputes with employees, customers or other businesses rather than the courts. The nine justices heard arguments in two …

RMS Lists Top 10 ‘1-in-100-Year’ Events for Asia Pacific Region

The Asia Pacific region remains highly vulnerable to major catastrophes, RMS said, announcing a list of 10 “1-in-100-year” events possible in the vast area that includes the Pacific Ring of Fire and the largest concentration of tropical cyclones. Without providing …