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After Poor Results, Greenlight Re ‘Repositioning,’ Entering New Classes of Business
Hedge fund manager David Einhorn said a shift in favor of value stocks may soon be coming even after his firm posted its worst underperformance in almost two decades. “While we’ve never underperformed like this, our prior worst underperformance compared …

POSTED FEBRUARY 22, 2018 11:54 AM
New Jersey Fire Destroys Squad’s Five Ambulances, Causes $2M in Damage
A fast-moving fire has gutted an ambulance squad’s building in New Jersey, destroying five ambulances and causing at least $2 million in damage. The fire at the American Legion Ambulance Association in Woodstown, N.J., broke out early Monday and was …

POSTED FEBRUARY 22, 2018 11:53 AM
Amtrak: NJ Transit Trains Could Be Banned from New York
Amtrak could prevent New Jersey Transit trains from entering New York if NJ Transit doesn’t finish installing positive train control. Amtrak President and CEO Richard Anderson told a House subcommittee that Amtrak is worried passengers are being put at risk …

POSTED FEBRUARY 22, 2018 11:46 AM
Risk Strategies Acquires New York City’s Prosurance Redeker Group
Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired New York City-based Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers. Terms of the deal were not disclosed. Formed in 1991 …

POSTED FEBRUARY 22, 2018 11:25 AM
AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO
French insurer AXA posted higher-than-expected 2017 net profits and stronger earnings in the United States, ahead of the planned flotation of its American life insurance and asset management businesses in the second quarter this year. AXA, which ranks as Europe’s …

POSTED FEBRUARY 22, 2018 10:18 AM
Supreme Court, 9-0, Denies Bid to Expand Whistleblower Protections
The U.S. Supreme Court on Wednesday refused to broaden protections for corporate insiders who call out misconduct, ruling they must take claims of wrongdoing to the Securities and Exchange Commission in order to be shielded against retaliation. The justices ruled …

POSTED FEBRUARY 22, 2018 6:00 AM
SEC Updates Guidance on Cyber Disclosure by Companies
The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said …

POSTED FEBRUARY 22, 2018 6:00 AM
Gone With The Wind: Storms Deepen Florida’s Beach Sand Crunch
Down the palm tree-lined roads of northeast Florida’s Flagler County, a half-dozen dump trucks are shuttling back and forth along the Atlantic coast pouring thousands of tons of sand onto the local beach. Replacing sand swept away by waves and …

POSTED FEBRUARY 22, 2018 5:42 AM
Miami Roofing Company Owners Arrested Over $1 Million Workers’ Comp Scam
Owners of a Miami roofing company have been accused of concealing nearly $1.2 million in payroll on their workers’ compensation policy renewal application in an alleged attempt to illegally lower their premium costs, according to Chief Financial Officer Jimmy Patronis. …

POSTED FEBRUARY 22, 2018 5:22 AM
Collins to Replace Schuettner as President of Insurance Designers of America
J. Craig Collins has joined Insurance Designers of America, LLC and will take over for Dick Schuettner, who will retire March 31. In his role, Collins will direct general business development including creating strategic business initiatives and expanding sales and …

POSTED FEBRUARY 22, 2018 5:13 AM

West News – Insurance Journal

CAL Insurance Names Coffey Account Manager in California
CAL Insurance & Associates Inc. has named Aletha Coffey an account manager on its commercial lines team. Coffey was previously a commercial account executive with GS Insurance Solutions. She was a marketing representative for BizInsure before that. CAL Insurance is …

POSTED FEBRUARY 21, 2018 11:14 PM
First Surety Bond Program for California Cannabis Industry OK’d
California Insurance Commissioner Dave Jones has approved the first surety bond program for the cannabis industry in the California. Continental Heritage Insurance Co. is the first insurer in the state to be approved to offer surety bonds for the cannabis …

POSTED FEBRUARY 21, 2018 10:13 PM
California Marijuana Growers Lagging in Getting Licenses, New Report Shows
Nearly two months after recreational marijuana became legal in California, less than 1 percent of the state’s known growers have been licensed, according to a report released by a pot industry group. The 38-page report from the California Growers Association …

POSTED FEBRUARY 21, 2018 3:34 PM
U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting
The U.S. Supreme Court on Tuesday declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order requiring the insurer to reduce its homeowner insurance rates …

POSTED FEBRUARY 21, 2018 12:05 AM
Woodruff-Sawyer in California Names Johnston Vice President of Aviation
San Francisco, Calif.-based Woodruff-Sawyer & Co. has named Drew Johnston vice president of aviation. Johnston will develop the strategy and steer the growth of the newly formed aviation practice, which will focus on insurance and risk management solutions for the …

POSTED FEBRUARY 20, 2018 11:49 PM
Leavitt Group Adds Field Waldo’s Esper in Idaho
Leavitt Group of Boise, Idaho is has named Rosie Esper as a personal insurance agent. Esper focuses on home and auto insurance for families and individuals. Esper has been in the insurance industry since 2012 and has 12 years of …

POSTED FEBRUARY 20, 2018 6:44 PM
California Construction Workers Injured in Elevator Shaft Fall
Authorities say four construction workers were hurt, three critically, after plunging 30 feet down an elevator shaft at an unfinished Los Angeles building. The Fire Department says the men were working on a five-story building in North Hollywood when they …

POSTED FEBRUARY 20, 2018 4:11 PM
Washington Wheat Farmers Oppose Proposed Trump Budget Cuts to Crop Insurance
Washington state wheat farmers are protesting cuts to their safety net programs in a budget proposal released by President Donald Trump this week. The Spokesman-Review review reports growers are concerned about Trump’s proposal to reduce federal spending on crop insurance …

POSTED FEBRUARY 20, 2018 4:09 PM
Former Colorado Police Officer Sentenced for Defrauding Homeowners Insurer
A former Colorado police officer has been sentenced to 45 days in jail and five years of probation for felony insurance fraud. The Post Independent reported that ex-Silt police Col. Michael Taylor was also ordered to pay more than $70,000 …

POSTED FEBRUARY 20, 2018 4:06 PM
Wyoming Bill Seeking Prison for Deadly Texting While Driving Fails
Lawmakers in the Wyoming House have voted down a bill that would have meant prison time for drivers who cause a deadly wreck while texting on their phones. Texting while driving in Wyoming currently is a misdemeanor punishable by a …

POSTED FEBRUARY 20, 2018 4:02 PM

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