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Cook Maran & Associates Acquires New York’s Joseph P. Price Agency
Cook Maran & Associates, a New York and New Jersey insurance broker and the New York metropolitan area platform for Prime Risk Partners (PRP), has acquired Joseph P. Price Agency (Price). Price is a Long Island, N.Y.-based insurance agency that …

POSTED JULY 19, 2018 1:01 PM
Travelers Q2 Profit Dips Due to Hail, Harvey
Travelers Companies reported that catastrophe losses from wind and hail storms in several regions of the United States cut into its second quarter profit. Net income for the quarter was $524 million compared to $595 million for the same quarter …

POSTED JULY 19, 2018 12:16 PM
Willis Towers Watson Board Extends Contract of CEO Haley to 2021
Willis Towers Watson, the global advisory, broking and solutions company, announced that its board of directors has extended the contract of its chief executive officer, John Haley, until Jan. 1, 2021. “We are pleased to retain John Haley’s leadership as …

POSTED JULY 19, 2018 11:43 AM
Oasis Loss Modelling Framework Offered Open Source, Free of Charge
Not-for-profit catastrophe modeling platform Oasis Loss Modelling Framework announced that all components of its catastrophe modeling software are now open source and downloadable from GitHub, free of charge. This step means that Oasis is making sophisticated catastrophe modelling more accessible …

POSTED JULY 19, 2018 11:34 AM
UK Insurers, Banks ‘Must Plan for Hard Brexit’ if Transition Deal Fails: Regulator
Britain’s banks and insurers must plan for a “hard” Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday in a warning echoed by Brussels. “With eight months until we exit …

POSTED JULY 19, 2018 11:18 AM
China’s Anbang to Sell Overseas Properties Worth $10B in Ongoing Rescue: Sources
China’s Anbang Insurance Group Co. Ltd. is looking to offload overseas properties worth about $10 billion to shore up its balance sheet as part of a government-backed rescue, three people with knowledge of the matter said. The sales are likely …

POSTED JULY 19, 2018 10:59 AM
Generali Plans to Sell Wealth Management, Services Units for $476M
Assicurazioni Generali SpA agreed to sell wealth-management and service units in Ireland and Guernsey for 409 million euros ($476 million), pushing the Italian insurer above its target for international disposals. The Generali Worldwide and Generali Link businesses will be purchased …

POSTED JULY 19, 2018 10:48 AM
Philadelphia Launches Pool, Spa Contractors Program
Philadelphia Insurance Companies’ (PHLY) has launched a new Pool and Spa Contractors Program in response to increased demand for pool construction. The PHLY comprehensive package product includes coverage for pool and spa contractors with a single carrier approach. Coverages offered …

POSTED JULY 19, 2018 5:13 AM
Neighbors of North Carolina Chemical Plant to be Tested for GenX Compounds
North Carolina and federal health officials want to test whether neighbors of a chemical company are carrying little-understood industrial compounds in their bodies. North Carolina’s Department of Health and Human Services said Tuesday it is working with the U.S. Centers …

POSTED JULY 19, 2018 5:08 AM
Lawmakers Eye Holding Social Media Firms Liable for User Posts
Top Republican lawmakers on Tuesday attacked one of the legal protections most prized by social media companies such as Alphabet Inc.’s Google and Facebook Inc., questioning whether they should be held liable for content posted by users. House Judiciary Chairman …

POSTED JULY 19, 2018 5:00 AM

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