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Arkansas Insurance Commissioner Named Consumer Committee Chair at NAIC
Arkansas Insurance Commissioner Allen Kerr has been named chairman of the Market Regulation and Consumer Affairs (D) Committee of the National Association of Insurance Commissioners (NAIC) for 2018. The mission of the Market Regulation and Consumer Affairs (D) Committee is …

POSTED JANUARY 18, 2018 5:46 PM
A.M. Best: Ratings Outlooks Negative for Texas-Based Standard Casualty
A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Standard Casualty Co. (Standard Casualty), based in New Braunfels, Texas. Standard Casualty …

POSTED JANUARY 18, 2018 5:42 PM
Oil from Sunken Iran Tanker Diffuses into 4 Separate Slicks
Oil from an Iranian tanker that sank in the East China Sea has diffused into four separate slicks, covering a combined area of just over 100 square kms (39 square miles), Chinese authorites said late on Wednesday. Earlier satellite imaging …

POSTED JANUARY 18, 2018 5:41 PM
Legislative Panel Backs Proposal to Ban Dicamba Herbicide in Arkansas
Arkansas lawmakers recommended regulators move forward on Jan. 16 with efforts to ban an herbicide that farmers in several states say has drifted onto their crops and caused damage, advancing the prohibition despite a lawsuit by a maker of the …

POSTED JANUARY 18, 2018 5:39 PM
Truck Leaks Natural Gas, Causes $2M in Damage in Kansas Fire
Authorities have determined the cause of a fire that caused more than $2 million in damage and losses at a truck maintenance facility in southwest Wichita, Kansas. Wichita fire Lt. Jose Ocadiz says employees were doing mechanical work Monday on …

POSTED JANUARY 18, 2018 5:38 PM
Woman Paralyzed by Chicago Bus Shelter Collapse Settles for $115M
Attorneys for a woman partially paralyzed by a collapsed bus shelter at Chicago’s O’Hare International Airport say she will receive a $115 million settlement from the city and its insurer. Jurors in August found the city liable for injuries to …

POSTED JANUARY 18, 2018 5:36 PM
Michigan Businesses Likely to Get a Break on Jobless Fund Tax
Michigan officials say state businesses are expected to pay less into a fund providing temporary benefits to eligible jobless residents. The Talent Investment Agency said in a release that unemployment insurance tax rates are projected to decrease an average 4.5 …

POSTED JANUARY 18, 2018 5:35 PM
Silent Cyber Included in Willis Re’s Cyber Risk Portfolio Modeling Tool PRISM-Re
Willis Re, the reinsurance business of Willis Towers Watson, the global advisory and broking company, has upgraded its cyber risk portfolio modeling tool PRISM-ReTM to include “silent cyber.” Willis Re defines “silent cyber” as potential cyber-related losses resulting from insurance …

POSTED JANUARY 18, 2018 5:12 PM
Business, Political Leaders List Cyber Attacks, Geopolitical Tensions as Top Concerns: WEF Survey
The threat of large-scale cyber attacks and a “deteriorating geopolitical landscape” since the election of U.S. President Donald Trump have jumped to the top of the global elite’s list of concerns, the World Economic Forum said ahead of its annual …

POSTED JANUARY 18, 2018 3:51 PM
S. Africa Mobile Phone Firm Cell C Seeks M&A to Expand into Insurance
Cell C Pty Ltd. is seeking acquisitions that will help transform South Africa’s third-biggest mobile-phone company into a full-service telecommunications provider offering internet and financial services as well as traditional calls and texts. The wireless carrier is working on two …

POSTED JANUARY 18, 2018 3:47 PM

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