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Insurance journal | January 22, 2018
A South Carolina school district has sued an insurance brokerage and several insurance companies, saying the district was sold excessive policies and charged too much. The Berkeley County School District filed suit in U.S. District Court, seeking more than $42 million from its former chief financial officer, Brantley D. Thomas III; Stanley Pokorney and his son, Scott Pokorney of Knauff Insurance Agency; Chicago-based Hub International Limited, the insurance brokerage firm that acquired Knauff in...
Business insurance | January 22, 2018
A federal appeals court has upheld a lower court ruling holding that a Chubb Ltd. unit is not obligated to indemnify Nasdaq under the professional services exclusion in its directors and officers liability policy in connection with Facebook’s botched 2012 initial public offering. The unanimous ruling by a three-judge panel of the 2nd U.S. Circuit Court of Appeals in New York in Beazley Insurance Co. Inc. v. ACE American Insurance Co., Illinois National Insurance Co. agrees with a 2016 ruli...
Chubb | February 27, 2018
Gun owners who want specialized insurance for their firearms may have less access to one kind of policy following a shooting massacre in Florida last week. Insurance company Chubb said on Friday that it will stop underwriting an insurance policy for gun owners called NRA Carry Guard. The National Rifle Association-branded insurance covers gun owners in the event they face legal repercussions following firearm incidents....
Chubb | March 07, 2018
Manufacturing has changed monumentally with the introduction of new technologies and automated capabilities. Workers are now empowered and assisted by machines and digital automation of commercial organizations is something the insurance industry has had to keep a close eye on. Technology brings new risks and exposures to the workplace, and poses underwriting and risk management challenges for insurance professionals....
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