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People Moves: JM Wilson Promotes Underwriters

Article 0 Comments JM Wilson, headquartered in Portage, Michigan, promoted several team members in its home office. Kristin Bolhuis Kristin Bolhuis was promoted to property and casualty manager. She works with carrier underwriters and independent insurance agents in Michigan and Texas. She began her career at JM Wilson in 1990 as an assistant life and health underwriter. She left to spend time on the agency side of the industry until 2015, when she returned as a property and casualty underwriter. Most recently, she was in the role of assistant property and casualty manager. Arianna Rozanski Arianna Rozanski was promoted to assistant property and casualty underwriter. She joined JM Wilson in 2023 as a property and casualty technician. Rozanski supports underwriters with new and renewal property and casualty risks, working with independent insurance agents and company underwriters in Ohio, Pennsylvania, West Virginia, Virginia and the eastern U.S. Brendan Hagan Brendan Hagan was promoted to fleet transportation underwriter. He is responsible for underwriting new and renewal fleet transportation risks (11 or more power units), working with carrier underwriters and independent insurance agents in all states that JM Wilson writes. Hagan joined JM Wilson in August 2023 as an assistant fleet transportation underwriter....

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Michigan State Documents Reveal No New Information on Nassar Abuse Scandal

Article 0 Comments DETROIT (AP) — Thousands of documents turned over by Michigan State University reveal nothing new about what the school might have known about years of sexual abuse committed by Larry Nassar, the campus doctor who assaulted female athletes, the state attorney general said Wednesday. “It was surprising to me that we did not find anything that was incriminating,” Attorney General Dana Nessel said at a news conference. “It seems sort of improbable to us, right?” she said. “This is a major university, obviously extensive number of employees that work there. I guess the expectation is that we would find a little bit more than we did.” Nassar, who also worked for USA Gymnastics, which trains Olympians, is serving decades in prison for sexual assault committed under the guise of treatment as well as other crimes. Michigan State in 2018 agreed to a $500 million settlement with hundreds of people, mostly women, who said he abused them with his hands. For years, Nessel and her predecessor clashed with Michigan State’s lawyers and its elected governing board over the release of records. While more than 100,000 documents were initially turned over to investigators, another batch of 6,000 was withheld...

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SEC Charges Pastor-Turned-Advisor With $2.4M Fraud

What You Need to Know The advisor allegedly sold phony notes in an effort to buy a faith-based marketing company. A former pastor in Tennessee who promoted a “faith-based” investment approach to Christian clients through his registered investment advisory faces Securities and Exchange Commission civil charges that he sold over $2.4 million in fraudulent promissory notes to at least six people. Without admitting or denying the allegations, Donald Anthony Wright, 54, of Cookeville has consented to an injunction permanently barring him from buying or selling any security, with certain exceptions, and to a permanent bar from serving as a public company officer or director. In a civil complaint filed Tuesday in U.S. District Court in Tennessee, the SEC alleges Wright and his registered investment advisory firm, Retirement Specialty Group Inc., recommended and sold the phony notes from June 2021 to July 2023. In promoting and selling the notes, some of which promised monthly interest of up to 20%, the SEC alleges, Wright, a former senior church pastor, misled investors regarding the nature and safety of the investments. Wright falsely told investors — at least five advisory clients and one other person — the notes were secured by real estate, that investing in...

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People Moves: Lockton Names Young SVP

Article 0 Comments Chad Young Lockton, based in Kansas City, Missouri, hired benefits consultant Chad Young as senior vice president based in its Houston office. Young previously served as an account executive at Aetna and held senior account executive roles at Assurant and The Hartford. He most recently served as an area vice president and a benefits consultant at Arthur J. Gallagher & Co. for over 13 years. Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

Boardrooms feel unprepared for global cyber risks despite growing threats: Beazley 0

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Boardrooms feel unprepared for global cyber risks despite growing threats: Beazley

A quarter (25%) of US business executives feel unprepared to deal with cyber risk. Over a fifth (22%) of US business leaders cited cyber risk as the number one threat they face this year, down from 28% in 2023. As AI technology comes of age, over a quarter (26%) of US boardrooms reported feeling unprepared against the threat of tech obsolescence risks, including outdated technology and missing out on new technology opportunities. London, UK (Sept. 10, 2024) – Beazley, the leading specialist insurer, is pleased to announce the publication of its latest Risk & Resilience report, Spotlight on Cyber & Technology Risk 2024. The report details how businesses across the globe perceive the growing threat posed by cyber crime, tech obsolesce, tech disruption and intellectual property risks in today’s era of fast-paced technological innovation. Over the past year the cyber threat landscape has become more complex for businesses to navigate due to increasing sophistication of cyber criminals’ tactics, aided by AI tools. Beazley’s survey of 3,500 global business leaders revealed that despite the growing risk landscape, global executives have something of a blind spot over cyber risk. 23% of the US executives surveyed ranked cyber as their top risk this year,...

WTW partners with Kayna to drive next-generation Affinity Insurance product solutions for UK and US-based SMEs 0

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WTW partners with Kayna to drive next-generation Affinity Insurance product solutions for UK and US-based SMEs

Cork, Ireland (Sept. 10, 2024) – WTW, a leading global advisory, broking and solutions company today announced a partnership between its Affinity Insurance business and Kayna, the award-winning insurance infrastructure platform. The partnership has been developed to enable delivery of innovative WTW insurance solutions to SME clients in the UK and US through Vertical Software-as-a-Service (‘vSaaS’) platforms. Vertical SaaS platforms provide types of software solutions which are created for specific industries and the partnership between WTW and Kayna intends to provide full program administration for US and UK-based industry-specific platforms in the construction, legal, salon/spa, fitness and field service sectors, distributing tailored insurance solutions. Specialist WTW teams in the UK and US will lead the product development and broker all insurance offerings as the company affirms its primary focus to delivering next generation distribution for the fast-growing Affinity Insurance sector. The partnership between WTW Affinity and Kayna will enable WTW to distribute property, general liability, workers’ compensation, commercial auto and umbrella liability insurance solutions to industry-specific vSaaS platforms. The partnership aims to drive top-line growth for vSaaS platform providers by leveraging platform data to serve relevant, tailored insurance through a streamlined process direct to the customer base that use such...

Mitchell Expands Its Intelligent Open Platform and Support for AI-Enabled Vehicle Inspections Through Collaboration With PAVE 0

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Mitchell Expands Its Intelligent Open Platform and Support for AI-Enabled Vehicle Inspections Through Collaboration With PAVE

frequency for repairable battery electric vehicles has jumped 45% in the U.S. and 39% in Canada year-over-year while increasing more gradually for hybrids San Diego, CA (Sept. 10, 2024) – Mitchell, an Enlyte company and leading technology and information provider for the Property & Casualty claims and Collision Repair industries, is pleased to announce that it is teaming up with PAVE to automate vehicle inspections and conditioning. Using Mitchell’s cloud-based appraisal solution, comprehensive data and open platform with PAVE’s proprietary artificial intelligence (AI) and guided image capture application, U.S. and Canadian organizations will be able to generate graded condition reports from uploaded photos. These reports will identify the vehicle damage and include estimated costs for parts, labor, repair or replace operations, and regional taxes. “PAVE has developed an advanced, AI-powered solution for virtual vehicle inspections,” said Steve Southin, co-CEO and founder of PAVE. “By joining forces with Mitchell, a leader in collision estimating technology and repair data, PAVE will be able to provide our customers with complete and consistent damage appraisals—arming them with the information needed to effectively run their businesses.” PAVE will be the latest AI innovator to integrate its machine-learning and computer vision models with the Mitchell Intelligent...

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FP Alpha Adds Automation Features to Estate Lab Platform

FP Alpha, the wealth management technology firm, has made a series of enhancements to its Estate Lab offering, a central component of its estate planning module for financial advisors. The updates deliver new estate planning capabilities for financial advisors, according to the firm, including features to help them better project and quantify long-term asset growth during the legacy planning process. “In light of the upcoming changes to the Tax Cuts and Jobs Act, these enhancements are timelier and more impactful than ever,” Andrew Altfest, CEO of FP Alpha, said in a statement. “The ability to project and quantify asset growth provides both advisors and clients with valuable insights for future estate planning decisions.” The new projection capabilities allow users to input custom growth rates per asset and project balances over time, according to the announcement. This should allow advisors to provide clients with a clearer picture of how asset growth could affect estate tax liabilities — and the amount of wealth passed to heirs.

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TSLA Unveils New Website and Management System

Article 0 Comments Kimmi Cantwell, President of the Texas Surplus Lines Association, Inc., announced that TSLA unveiled its new website and management system. This upgrade simplifies event registration, member updates, and membership applications. Key features include an enhanced membership directory, streamlined event management, and advanced reporting capabilities. President Cantwell and the TSLA Board believe the improvements will serve members effectively for years to come. Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

Four catastrophic summer events led to record number of insurance claims 0

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Four catastrophic summer events led to record number of insurance claims

Insurance industry addressing 228,000 claims, a 406% increase compared to previous 20-year average Toronto, ON (Sept. 4, 2024) – Canada’s home, auto and business insurers are reporting the most challenging summer on record for damage from weather events and natural disasters. The flooding in Toronto and other parts of southern Ontario, the Jasper wildfire, the Calgary hailstorm and flooding in regions of Quebec, have resulted in approximately 228,000 insurance claims. In comparison, last year, insurers reported 113,000 claims in July and August and 160,000 claims for the entire year. “This summer has been the most challenging in history for the hundreds of thousands of Canadians across the country who were impacted by these storms and wildfires. The insurance industry is there: we are on-the-ground in Alberta, Ontario and Quebec, assisting our customers as they put their lives back together and we’ll be there throughout the recovery and rebuilding,” said Celyeste Power, President and CEO, Insurance Bureau of Canada (IBC). “These four catastrophic weather events, which occurred in over the span of four weeks this summer, have resulted in more claims in one summer than insurers have reported in any summer over the last 20 years. While insurers continue to assist...