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News – Insurance Journal

Gallagher Bassett Acquires UK-Based Property Claims Management Services
Gallagher Bassett, the risk management services subsidiary of Arthur J. Gallagher, has boosted its size and offering in the United Kingdom by acquiring Property Claims Management Services Ltd. (PCMS). With origins dating back to 1991, Tamworth, England-based PCMS business provides …

POSTED DECEMBER 13, 2018 10:45 AM
Italian Oil Services Firm Saipem Blames Cyber Attack on Shamoon Virus Variant
A hack on Italian oil services firm Saipem that crippled more than 300 of the company’s computers used a variant of the notorious Shamoon virus, Saipem said, a development that links the case to a massive attack in 2012 on …

POSTED DECEMBER 13, 2018 8:49 AM
UK Fintech Startup Revolut Gets EU Banking License in Lithuania
Revolut, the London-based financial technology startup, has obtained a European banking license as Brexit looms, with plans to launch checking and savings accounts as well as retail and business lending. The Bank of Lithuania, the eastern European country’s central bank, …

POSTED DECEMBER 13, 2018 8:31 AM
Spicer Joins Oklahoma Agents Group as Workers’ Comp Program Account Manager
Nikki Spicer has joined the Independent Insurance Agents of Oklahoma (IIAO) as the association’s new workers’ compensation program account manager. She will be working alongside Susan Starr and is replacing Niki Wigington, who has taken on a new role with …

POSTED DECEMBER 13, 2018 6:50 AM
New Consumer Financial Protection Bureau Chief Outlines Priorities
The new head of the U.S. consumer financial watchdog on Tuesday said she intended to continue some of the work begun by her predecessor Mick Mulvaney, including a review of decades-old rules preventing lending discrimination against minorities. Industry and consumer …

POSTED DECEMBER 13, 2018 6:00 AM
Current Congress Unlikely to Pass Federal Bill to Sped Up Driverless Vehicles
A landmark U.S. bill that would speed adoption of self-driving cars is now “a long shot” to pass before the current Congress adjourns in the coming weeks, a key Republican senator behind the legislation said. Many automaker lobbyists and congressional …

POSTED DECEMBER 13, 2018 6:00 AM
Tennesse Governor-Elect Reappoints McPeak as Insurance Commissioner
Tennessee Insurance Commissioner Julie Mix McPeak will continue to serve as the state’s top insurance regulator, according to a statement from Governor-elect Bill Lee. Lee announced four appointments this week to his cabinet for departments including Commerce and Insurance, Financial …

POSTED DECEMBER 13, 2018 5:58 AM
Citizens to Request 8.2% Rate Increase from Florida Regulators
Citizens Property Insurance Corp. will file for a statewide average increase of 8.2 percent for personal lines policyholders – homeowners, condominium owners and renters. The Florida insurer of last resort’s Board of Governors on Wednesday approved a 2019 rate package …

POSTED DECEMBER 13, 2018 5:56 AM
The PURE Group Expands Excess & Surplus Lines Offering Into California
The PURE Group has expanded its excess & surplus (E&S) high net worth offering, PURE Programs, into California. The coverage is tailored to high value, high-risk homes with broader coverage than is typically found in the high net worth E&S …

POSTED DECEMBER 13, 2018 5:43 AM
Senate OK of Farm Bill Sends It to President Trump Who Is Expected to Sign It
The House cleared farm legislation that renews agricultural subsidies and food aid for low-income families without a controversial provision backed by conservatives and President Donald Trump that would have toughened work requirements to qualify for assistance. The bill passed 369 …

POSTED DECEMBER 13, 2018 1:54 AM

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