Industry News

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India Hit with Worst Floods in Century, Bringing Damages of $3B, 350-Plus Deaths
August 20, 2018
Some 800,000 people have been displaced and over 350 have died in the worst flooding in a century in southern India’s Kerala state, as authorities rushed to bring drinking water to the most affected areas, officials said Sunday. At least …

Steamship Mutual Authorized to Establish Branch in Hong Kong
August 20, 2018
Steamship Mutual P&I Club announced the Hong Kong Insurance Authority has formally authorized the Club to establish a branch in Hong Kong from Aug. 17, 2018. Steamship Mutual said it is the first P&I Club to gain authorization from the …

China’s Online Insurer ZhongAn to Get Investment from SoftBank for Overseas Growth
August 20, 2018
ZhongAn Online P&C Insurance Co. Ltd., the first internet-only insurer in China, announced its subsidiary ZhongAn International will receive a strategic investment from SoftBank Vision Fund, which will support the growth of ZhongAn’s technology s …

No-Deal Brexit: A Lose-Lose for UK and EU Financial Stability
August 20, 2018
With Brexit talks back from the summer holidays, it’s worth considering one way in which failure to reach a deal before the U.K.’s departure in March would also be bad for the European Union. Such an outcome would unsettle the …

Chubb Launches Major Accounts Division in Asia-Pacific Region, Headed by White
August 20, 2018
Chubb announced the establishment of a Major Accounts Division in the Asia Pacific region, a dedicated premium service that encompasses underwriting, risk engineering and claims for the region’s large, global and multi-national clients and business p …

Spokesman: City’s Insurer, not Kansas Family’s, Paid for Broken Sculpture
August 20, 2018
An Overland Park, Kansas, official admits he was mistaken about who paid for a $132,000 sculpture at the city’s community center that was damaged by a young boy. City spokesman Sean Reilly said in July that the insurance company for …

Phi Delta Theta Fraternity, LSU Sued by Parents After Son’s Death
August 20, 2018
The parents of a Louisiana State University freshman who died of alcohol intoxication last year after an alleged fraternity hazing filed a federal lawsuit against the university board, the fraternity and several of the fraternity’s members. Stephen a …

Kansas Commissioner: Enrollment Rises in College Insurance Programs
August 20, 2018
Enrollment in courses eligible for the Kansas Insurance Certificate Program at several Kansas higher learning institutions is rising, according to the state insurance department. The department says around 500 students have enrolled in the certificat …

Ohio Work Comp Bureau to Distribute $1.1M in Grants to Fire Depts.; $1.2M to Employers
August 20, 2018
Through a program to protect firefighters from carcinogens and other harmful health hazards encountered by firefighters during their daily work activities, the Ohio Bureau of Workers’ Compensation (BWC) will distribute $1.1 million in safety grants t …

Arkansas ‘Tort Reform’ Advocates Stunned by Church Group’s Opposition
August 20, 2018
So-called tort reform has been an easy sell in states controlled by Republicans, and backers of a lawsuit-limiting proposal on the ballot in Arkansas this fall expected little trouble winning passage until they ran into a surprising obstacle from a … …

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