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News – Insurance Journal

After Poor Results, Greenlight Re ‘Repositioning,’ Entering New Classes of Business
Hedge fund manager David Einhorn said a shift in favor of value stocks may soon be coming even after his firm posted its worst underperformance in almost two decades. “While we’ve never underperformed like this, our prior worst underperformance compared …

POSTED FEBRUARY 22, 2018 11:54 AM
New Jersey Fire Destroys Squad’s Five Ambulances, Causes $2M in Damage
A fast-moving fire has gutted an ambulance squad’s building in New Jersey, destroying five ambulances and causing at least $2 million in damage. The fire at the American Legion Ambulance Association in Woodstown, N.J., broke out early Monday and was …

POSTED FEBRUARY 22, 2018 11:53 AM
Amtrak: NJ Transit Trains Could Be Banned from New York
Amtrak could prevent New Jersey Transit trains from entering New York if NJ Transit doesn’t finish installing positive train control. Amtrak President and CEO Richard Anderson told a House subcommittee that Amtrak is worried passengers are being put at risk …

POSTED FEBRUARY 22, 2018 11:46 AM
Risk Strategies Acquires New York City’s Prosurance Redeker Group
Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired New York City-based Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers. Terms of the deal were not disclosed. Formed in 1991 …

POSTED FEBRUARY 22, 2018 11:25 AM
AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO
French insurer AXA posted higher-than-expected 2017 net profits and stronger earnings in the United States, ahead of the planned flotation of its American life insurance and asset management businesses in the second quarter this year. AXA, which ranks as Europe’s …

POSTED FEBRUARY 22, 2018 10:18 AM
Supreme Court, 9-0, Denies Bid to Expand Whistleblower Protections
The U.S. Supreme Court on Wednesday refused to broaden protections for corporate insiders who call out misconduct, ruling they must take claims of wrongdoing to the Securities and Exchange Commission in order to be shielded against retaliation. The justices ruled …

POSTED FEBRUARY 22, 2018 6:00 AM
SEC Updates Guidance on Cyber Disclosure by Companies
The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said …

POSTED FEBRUARY 22, 2018 6:00 AM
Gone With The Wind: Storms Deepen Florida’s Beach Sand Crunch
Down the palm tree-lined roads of northeast Florida’s Flagler County, a half-dozen dump trucks are shuttling back and forth along the Atlantic coast pouring thousands of tons of sand onto the local beach. Replacing sand swept away by waves and …

POSTED FEBRUARY 22, 2018 5:42 AM
Miami Roofing Company Owners Arrested Over $1 Million Workers’ Comp Scam
Owners of a Miami roofing company have been accused of concealing nearly $1.2 million in payroll on their workers’ compensation policy renewal application in an alleged attempt to illegally lower their premium costs, according to Chief Financial Officer Jimmy Patronis. …

POSTED FEBRUARY 22, 2018 5:22 AM
Collins to Replace Schuettner as President of Insurance Designers of America
J. Craig Collins has joined Insurance Designers of America, LLC and will take over for Dick Schuettner, who will retire March 31. In his role, Collins will direct general business development including creating strategic business initiatives and expanding sales and …

POSTED FEBRUARY 22, 2018 5:13 AM

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