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Lloyd’s Market Association Launches Claims Development Training Tool
The Lloyd’s Market Association (LMA) has launched the Claims Development Pathway, an interactive training and development tool that will provide support to claims professionals in the Lloyd’s market, at every stage of their careers. Modernizing claims handling at Lloyd’s is …

POSTED FEBRUARY 20, 2018 3:18 PM
Prosecutors Say New Jersey Diner Owner Paid Friend to Burn It Down
Prosecutors say a New Jersey diner owner hired his friend to burn it down last month so he could collect on an insurance claim. Thomas Giannisis, a 51-year-old Bellmawr resident who owned the Country Town Diner in Berlin, and 56-year-old …

POSTED FEBRUARY 20, 2018 2:34 PM
New York’s The Iroquois Group Promotes McKay to Regional Vice President
The Iroquois Group, an Allegany, N.Y.-based service provider for independent property and casualty insurance agencies, has promoted Kevin McKay to regional vice president of its Northeast region. McKay is a Londonderry, N.H.-based, 30-year industry veteran who served as a producer …

POSTED FEBRUARY 20, 2018 2:29 PM
Insurance Industry Hiring Stabilizes; Key Jobs Remain Difficult to Fill: Study
Fifty-eight percent of insurance companies plan to increase staff during the next 12 months in part due to expected increase in business and new markets, according to the Semi-Annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and …

POSTED FEBRUARY 20, 2018 2:22 PM
Brown & Brown of New York Acquires the Assets of New York’s yourPFO Consulting
Brown & Brown of New York Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Purchase, N.Y.-based yourPFO Consulting LLC (yourPFO). yourPFO represents many large company clients in the design and implementation of …

POSTED FEBRUARY 20, 2018 1:55 PM
The Cost of Cyber Attacks to U.S. Economy
Malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016, the White House said Friday. The estimate comes in a Council of Economic Advisers report on the impact of cyber attacks on U.S. government and …

POSTED FEBRUARY 20, 2018 1:23 PM
AXIS’ A.M. Best Ratings Revised to Negative; Insurance Arm Blamed
AXIS Capital Holdings’ money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its performance. “The revised outlooks are based on unfavorable trends in the …

POSTED FEBRUARY 20, 2018 10:17 AM
Growing Number of Firms Sell Telematics Data, Including Israeli Startup Otonomo
The road to profits is paved with good data. Every hour, a modern car processes about 25 gigabytes of information — the equivalent of about seven full-length high-definition movies — on everything from engine temperature and tire pressure to what’s …

POSTED FEBRUARY 20, 2018 9:17 AM
India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System
India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial platform. The comments come after the small private lender on …

POSTED FEBRUARY 20, 2018 8:52 AM
Flood Warnings in Effect Along Ohio River in West Virginia
Flood warnings continue along the Ohio River in West Virginia following recent heavy rains. The National Weather Service says the Ohio River was nearly seven feet above flood stage Sunday at Point Pleasant. It was expected to fall below flood …

POSTED FEBRUARY 20, 2018 6:01 AM

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