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News – Insurance Journal

The Professional Insurance Agents of New Jersey Names Monacelli PIA National Director
The Professional Insurance Agents of New Jersey has named Paul Monacelli as its PIA national director. Monacelli is CEO of ADP/Statewide Insurance Agencies Inc. in Florham Park, N.J. With more than four decades of experience in the insurance industry, Monacelli …

POSTED AUGUST 15, 2018 1:26 PM
New York Sues OxyContin Maker Purdue Pharma Over Opioids
New York state on Tuesday sued Purdue Pharma LP, accusing the OxyContin maker of widespread fraud and deception in the marketing of opioids, and contributing to a nationwide epidemic that has killed thousands. The state blamed Purdue for running what …

POSTED AUGUST 15, 2018 1:05 PM
Monsanto’s ‘Junk Science’ Appeal of Roundup Verdict Faces Long Odds
Bayer AG unit Monsanto faces long odds on an appeal blaming an “inflamed” jury and “junk science” for a verdict of $289 million in damages to a man who said the company’s Roundup weed killer caused his cancer, according to …

POSTED AUGUST 15, 2018 12:17 PM
StarStone Launches Casualty Consortium for Australia, New Zealand Markets
StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting business. StarStone’s Lloyd’s coverholder in Australia – StarStone Underwriting Australia …

POSTED AUGUST 15, 2018 12:11 PM
Capsicum Re’s Cyber Team Taps Paragon’s Goring as Broker, BMS’ Naidu as Wordings Director
Capsicum Re, the London-based specialist reinsurance broker, announced two new hires to its cyber division. Jasper Goring joins as a cyber broker and Prab Naidu was appointed as wordings director, both with immediate effect. They are based in London reporting …

POSTED AUGUST 15, 2018 10:53 AM
Cyber Criminals Steal $13.5M from India’s Cosmos Bank
Cyber criminals hacked the systems of India’s Cosmos Bank and siphoned off nearly 944 million rupees ($13.5 million) through simultaneous withdrawals across 28 countries over the weekend, the bank has told police. The co-operative bank said unidentified hackers stole customer …

POSTED AUGUST 15, 2018 10:20 AM
S. Korean BMW Owners Asked Not to Drive Until Fire Risk Inspections Completed
South Korea’s government will tell owners of some BMW AG cars in the country to keep the vehicles off the roads until the German carmaker completes safety checks to address a defect after reports of nearly 40 cases of fire …

POSTED AUGUST 15, 2018 9:55 AM
Risk of ‘Chaotic’ No-Deal Brexit Increasing: UK Foreign Minister Hunt
The risk of a no-deal Brexit has been increasing and the European Union commission needs to change its attitude if a deal is to be reached, British foreign minister Jeremy Hunt said on Tuesday. “Everyone needs to prepare for the …

POSTED AUGUST 15, 2018 9:38 AM
Tower Hill Specialty Expands Into 5 New States, Adds Carrier
Tower Hill Specialty, a managing general agency based in Ohio, has begun offering property insurance policies in Georgia, Indiana, Ohio, Texas and Wisconsin. The company, which offers property insurance for homeowners, niche risks including seasonal and rental homes, fixer-uppers, manufactured …

POSTED AUGUST 15, 2018 5:33 AM
Opioids Blamed for 11.5% Spike in Kentucky Overdose Deaths Last Year
Drug overdose deaths in Kentucky are increasing despite a drop in opioid prescriptions and heroin use. A new report from the Kentucky Office of Drug Control Policy says 1,565 people died from drug overdoses in 2017. That’s an 11.5 percent …

POSTED AUGUST 15, 2018 5:01 AM

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