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State Auto Innovation Unit: $25M; 5 Insurtechs; 18 Months
State Auto Labs, the innovation arm of the State Automobile Mutual Insurance Co., says in the 18 months after launching its $25 million corporate venture fund to support entrepreneurs and innovations in the insurance industry, it has invested in five …

POSTED MAY 24, 2019 5:26 AM
Auto Insurance Drives Personal Lines Improvement
U.S. personal lines insurance saw strong premium growth of 8% in 2018 and the sector’s statutory combined ratio of 99% for 2018 represented the market’s best results since 2013, according to a new special report from Fitch. “Strong performance was …

POSTED MAY 24, 2019 5:00 AM
Managing Sexual Harassment Risk in the #MeToo Era
Since October 2017 when the #MeToo era began and sexual harassment claims against Hollywood mogul Harvey Weinstein were revealed, insurers have seen an uptick in not only the number but also the size of sexual harassment claims. “[W]e’re going into …

POSTED MAY 24, 2019 5:00 AM
Weinstein, Accusers Reach Tentative $44 Million Deal, Reports WSJ
Harvey Weinstein, women who accused him of sexual misconduct, his former film studio’s board members and the New York attorney general’s office have reached a tentative $44 million deal to resolve lawsuits and compensate alleged victims of the Hollywood producer, …

POSTED MAY 24, 2019 5:00 AM
The Hanover Adds Watercraft Coverage to Personal Lines Product Suite
The Hanover Insurance Group, Inc. has expanded its suite of personal lines insurance products to include a new watercraft insurance offering. As part of the new offering, The Hanover’s watercraft product will offer: Broadened range of coverage for watercrafts including …

POSTED MAY 24, 2019 4:59 AM
Gulfstream Insurance Co. of Florida Appoints Natherson President, CEO
Gulfstream Property and Casualty Insurance Co. has appointed Ronald E. “Nate” Natherson, Jr. as president and CEO. Natherson joins Gulfstream having previously served as chief operating officer for Southern Oak Insurance Co. in Ponte Vedra Beach, Fla. He has more …

POSTED MAY 24, 2019 4:56 AM
Florida Governor Signs AOB Reform Bill; Law to Take Effect July 1
Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …

POSTED MAY 24, 2019 4:32 AM
Cost of Flood-Prone Home Buyouts in Missouri, Elsewhere: $5B and Rising
The residents of the small riverside town of Mosby, Missouri, have become accustomed to watching floods swamp their streets, transform their homes into islands and ruin their floors and furniture. Elmer Sullivan has replaced his couch, bed and television. He’s …

POSTED MAY 24, 2019 1:04 AM
Oklahoma Senate OKs Workers’ Comp Reforms; Bill Goes to Governor
The Oklahoma Senate has approved legislation that makes changes to Oklahoma’s workers’ compensation system that lawmakers say will preserve and strengthen reforms adopted in 2013. An increase in benefits paid to injured workers is included among the provisions of House …

POSTED MAY 24, 2019 12:52 AM
Mississippi River’s Morganza Floodway May Be Opened for Third Time Ever
A major barrier that keeps the Mississippi River in its current path may be opened for just the third time in its history, potentially flooding a large part of rural Louisiana. Concern is growing that heavy rains will cause the …

POSTED MAY 23, 2019 10:11 PM

West News – Insurance Journal

Gorst & Compass in California Names Mulford Senior Transportation Broker
Chatsworth, Calif.-based Gorst & Compass has named Kristi Mulford a senior transportation broker/underwriter. Mulford, who is based in San Marcos, has 18 years of commercial auto insurance experience. She was previously a broker with R.E. Chaix & Associates. She was …

POSTED MAY 23, 2019 8:13 PM
Woman Who Claimed Abuse Was Ignored Gets $1.7M
Washington state has agreed to pay $1.7 million to a woman who claimed social workers failed to investigate reports of neglect and sexual abuse three decades ago. The Seattle Times reported a judge signed off on the settlement to the …

POSTED MAY 23, 2019 2:29 PM
Colorado Refocuses Rules on Safety, Won’t Halt Drilling
Colorado officials said that they had no plans to stop energy companies from drilling for oil and gas while regulators overhaul state rules to make health, safety and the environment their top priority. Dan Gibbs, chief of the state Department …

POSTED MAY 23, 2019 2:25 PM
Alaska Air Carrier Suspends Operations After 2nd Crash
An Alaska air carrier involved in two deadly floatplane crashes in a week has voluntarily suspended operations, federal officials said. The halt of flightseeing and commuter flights is in place indefinitely, according to the Federal Aviation Administration. The action comes …

POSTED MAY 23, 2019 2:22 PM
Washington Couple Charged with Auto Insurance Fraud
Brittany Jones and Steven Jones, of Marysville, Wash., each were charged with one count of filing a false insurance claim in Snohomish County Superior Court on May 14. The charges stem from an auto insurance claim and follow an investigation …

POSTED MAY 23, 2019 2:20 PM
Bankruptcy Judge Approves PG&E $105 Million Assistance Fund for Wildfire Victims
PG&E Corp. may set up a $105 million housing fund for victims of 2017 and 2018 wildfires in California, which set records for devastation and were blamed on the utility’s equipment, the judge overseeing the bankruptcy of the investor-owned power …

POSTED MAY 23, 2019 12:18 PM
Small Quake Confirmed off Oregon’s Pacific Coast
The U.S. Geological Survey confirmed a magnitude 3.7 earthquake hit along Oregon’s Pacific coast. The agency says the earthquake struck a spot 1.3 miles southwest of Rose Lodge, a town of about 1,900 people, at 9:23 a.m. Sunday. The earthquake …

POSTED MAY 22, 2019 2:27 PM
University of Alaska, Former Professor Sued over Sexual Misconduct Allegations
A lawsuit has been filed against a retired University of Alaska Anchorage anthropology professor who is banned from campus over sexual misconduct allegations by multiple women. David Yesner is named in the federal lawsuit filed Wednesday along with The University …

POSTED MAY 22, 2019 2:25 PM
Hawaii Condo Owners Suing Building Contractor
Members of a Hawaii condominium association have filed a lawsuit saying the building is unsafe and uninhabitable. The Honolulu Star-Advertiser reported that the lawsuit filed by owners of units in the 3-year-old Waiea tower in the Kakaako neighborhood of Honolulu …

POSTED MAY 22, 2019 2:22 PM
California Legislature Mulling Electric Scooter Regulation
The California Assembly has approved new rules for electric bikes and scooters. Businesses like Bird and Spin have deployed scooters to cities across California and the country in recent years. Often local governments have not set up permits or regulations …

POSTED MAY 22, 2019 2:20 PM

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