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CURRENT ISSUE


MONDAY, JANUARY 03

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LATEST NEWS AND INFORMATION ON BUSINESS INSURANCE, RISK MANAGEMENT, WORKERS COMP

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WILLIS NAMES FORMER LLOYD’S EXEC TO LEAD COMMERCIAL LINES DATA

Willis Towers Watson PLC on Monday said it has named former Lloyd’s of London
executive Lou Smith to lead commercial lines data strategy and accelerate
digital trading capability in the broker’s insurance consulting and technology
business.


CAT BOND ISSUANCE HITS RECORD $12.5B: AON

Catastrophe bond issuance reached a record $12.5 billion in 2021, topping 2020’s
$11.0 billion, according to Aon Securities, a unit of Aon PLC.


TRUCKERS FIGHTING VACCINE MANDATE HEAD TO CANADIAN CAPITAL

A convoy of truckers started their march from Vancouver on Sunday to the
Canadian capital city of Ottawa protesting the government's COVID-19 vaccine
mandate for truckers, which the industry says would create driver shortages and
fuel inflation.


CALIF. BILL ADDS COVID TO OCCUPATIONAL INJURIES FOR HOSPITAL WORKERS

Lawmakers in California are considering a bill that would add COVID-19 to the
list of diseases suffered by hospital care workers under workers compensation
presumption.


STATES INTRODUCE MIXED LEGISLATION ON CANNABIS PAYMENTS IN COMP

Lawmakers in Kansas, Mississippi, Nebraska and South Dakota are considering
bills that would explicitly shield payers from reimbursing injured workers for
using medical cannabis yet those in New Jersey are weighing a law that would
explicitly require comp to cover cannabis in some circumstances.


HIGH COURT CLARIFIES EXCLUSIVE REMEDY FOR GENERAL CONTRACTORS

The Illinois Supreme Court ruled Friday that the exclusive remedy provisions of
the Workers’ Compensation Act do not extend to a general contractor who is not
the employee’s immediate employer.

 * Most Recent
 * Most Popular
 * COVID-19 Update


 * COLORADO LAWMAKERS SEEK TO AMEND INJURY NOTICE TIME IN COMP
   
   Lawmakers in Colorado are considering legislation that would increase more
   than threefold the time limits for reporting a workplace injury.
   
   10 minutes ago


 * ALIGNING BETTER OUTCOMES WITH EPISODIC CARE MANAGEMENT
   
   Through a value-driven framework for patient engagement, evidence-based care,
   and best-in-class providers, episodic care management can optimize outcomes
   and reduce costs. Learn more in a new Risk Perspective by Paradigm.
   
   1 month ago


 * CAT BOND ISSUANCE HITS RECORD $12.5B: AON
   
   Catastrophe bond issuance reached a record $12.5 billion in 2021, topping
   2020’s $11.0 billion, according to Aon Securities, a unit of Aon PLC.
   
   20 minutes ago


 * CALIF. BILL ADDS COVID TO OCCUPATIONAL INJURIES FOR HOSPITAL WORKERS
   
   Lawmakers in California are considering a bill that would add COVID-19 to the
   list of diseases suffered by hospital care workers under workers compensation
   presumption.
   
   39 minutes ago


 * WILLIS NAMES FORMER LLOYD’S EXEC TO LEAD COMMERCIAL LINES DATA
   
   Willis Towers Watson PLC on Monday said it has named former Lloyd’s of London
   executive Lou Smith to lead commercial lines data strategy and accelerate
   digital trading capability in the broker’s insurance consulting and
   technology business.
   
   1 hours ago


 * HOWDEN POSTS 48% JUMP IN REVENUE
   
   U.K.-based insurance brokerage Howden Group Holdings Ltd.’s revenue surged
   48% year-on-year to approximately £1.2 billion ($1.6 billion) in 2021.
   
   2 hours ago


 * PORT CONGESTION LEADS TO $4.5 BILLION WEEKLY TRADE LOSS
   
   Analysts at U.K.-based risk management firm Russell Group Ltd. estimate $4.5
   billion worth of trade losses per week due to the ongoing congestion at
   Shanghai port, which is worsening global business interruption and supply
   chain risks.
   
   2 hours ago


 * FIRE AT BATTERY PARTS FACTORY RAISES NEW SUPPLY CHAIN CONCERNS
   
   A fire at EcoPro BM Co. Ltd.’s Cheongju, South Korea-based cathode materials
   factory on Jan. 21 has raised supply concerns for battery makers Samsung SDI
   Co. Ltd. and SK Innovation’s battery subsidiary SK On.
   
   2 hours ago


 * PREMIUMS INCREASE BY MORE THAN 27%
   
   Data from the Insurance Association of Turkey showed that local insurers’
   aggregate premium increased by more than 27% year-on-year to 105.3 billion
   Turkish lira ($7.8 billion) in 2021.
   
   2 hours ago


 * PERU DECLARES 90-DAY ENVIRONMENTAL EMERGENCY AFTER OIL SPILL
   
   Peru declared a 90-day environmental emergency on Jan. 22 after an oil spill
   from a tanker ship that was rocked by a tsunami from the eruption of a
   volcano near Tonga on Jan. 14.
   
   2 hours ago

Load More


FROM THE ARCHIVES


 * JANUARY 1970: MUTUAL AID PACT COVERS AIRLINES DURING STRIKES
   
   Back in the 70s, when unions were stronger, 16 airlines – most of which
   disappeared long ago – used a controversial mutual aid pact to insure against
   lost revenue during strikes.


 * DECEMBER 1989: FAN DEFEATS CUBS IN COURT
   
   A young boy who was hit by a foul ball at a 1983 Cubs game finally won his
   day in court six years later. In a decision that was later upheld on appeal,
   a jury awarded the fan compensatory damages.


 * NOVEMBER 1969: ISLAND DOMICILES COME UNDER FIRE
   
   Forty years ago, a U.S. regulator urged policyholders to think twice about
   dealing with insurers in the “unregulated” Bermuda and Bahamas markets.


 * OCTOBER 2005: MARKET CLIMATE LURING STARTUPS TO BERMUDA
   
   Big losses from a trio of hurricanes – Katrina, Rita and Wilma – led to
   another round of reinsurer formations in the fall of 2005.


 * SEPTEMBER 2012: BOMB THREATS TEST CAMPUS RISK MANAGEMENT
   
   A rash of bomb threats around U.S. college campuses in 2012 put the focus on
   security and risk management.

Click here to read our profiles of the 2021 Women to Watch honorees Click here
to watch the BI Interview video series>> Click here to access the latest issue
of Business Insurance.


PEOPLE: COMINGS & GOINGS


 * ALEJANDRO MUÑIZ
   
   Company: Generali
   Category: Insurers


 * JOHN LACAVA
   
   Company: Jencap
   Category: Brokers

Click here for more Comings & Goings


PEOPLE: UP CLOSE


 * STEVE BRYANT
   
   Lubbock, Texas-based managing director, higher education risk management
   leader, Risk Strategies Co....
   
   Read Full Profile


 * JENNIFER LIVINGSTONE
   
   New York-based, head of strategic agency management, Coalition Inc.
   
   Read Full Profile

Click here for more Up Close Profiles


PEOPLE: VIEW FROM THE TOP


 * VIEW FROM THE TOP: ROBERT L. COHEN, IMA FINANCIAL GROUP

Click here for more Views from the Top


SPONSOR INSIGHTS


 * ALIGNING BETTER OUTCOMES WITH EPISODIC CARE MANAGEMENT
   
   Through a value-driven framework for patient engagement, evidence-based care,
   and best-in-class providers, episodic care management can optimize outcomes
   and reduce costs. Learn more in a new Risk Perspective by Paradigm.


READERS POLL



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OFF BEAT


 * MAYBE YOU’RE BORN WITH IT; OR MAYBE IT’S YOUR FACE MASK
   
   Believe it or not, the COVID-19 pandemic’s top risk management strategy may
   also make one more attractive, according to a study conducted at Cardiff
   University in England.


 * WALMART: SOMETHING FOR EVERYBODY, JUST NOT PANTS FOR FEMALE TRUCKERS
   
   A female delivery driver for Walmart Inc. is suing her employer in a federal
   class-action lawsuit alleging the retailer provides work pants and laundry
   services for men but not for female truckers.


 * INSURANCE SECTOR DODGES GREAT RESIGNATION WOES
   
   As a record-breaking number of American workers continue to sever ties with
   their employers, the insurance industry has managed to retain employees
   better both in volume and tenure, according to a new report by Capital
   Relocation Services.


 * FEDS GO AFTER DISGRUNTLED BOSS AFTER EMPLOYEE’S NOT-SO-SLICK COMPENSATION
   
   The U.S. Department of Labor announced Wednesday that it has filed a lawsuit
   against a Georgia auto repair shop owner who paid former worker final wages
   in oily pennies, claiming the move amounted to retaliation and more.


 * SUIT ALLEGES TEAMS ENJOYING FALSE HOME-STATE ADVANTAGE
   
   A class-action lawsuit has been filed in U.S. District Court against the NFL,
   New York Giants, New York Jets and MetLife Stadium in New Jersey claiming the
   Giants and Jets, playing in New Jersey, are improperly and illegally
   benefitting from the use of “New York” in their team names.


 * TOP 10 OFF BEATS FROM DECEMBER
   
   Peloton stories grabbed two of the top four Off Beat spots in December, while
   a lawsuit over a Disneyland pass rode to the top.


 * NO APOLOGIES IN NIRVANA BABY LAWSUIT
   
   Did the man who alleged the band Nirvana used his baby photo on the cover of
   one of the rock band’s most celebrated albums without his permission say
   “nevermind” to his lawsuit?


 * CHRISTMAS COMES EARLY FOR SANTA IN A 6% WAGE HIKE
   
   Inflation woes won’t follow Kris Kringle into the new year, Insure.com says.
   Based on salary information from comparable jobs from the Bureau of Labor
   Statistics, the North Pole’s most famous and beloved resident qualified for a
   6% wage increase.


 * DECK THE HALLS WITSHBELSHOFHOLLEEE!
   
   Eighteen percent of people admit to decorating their Christmas trees while
   hitting the eggnog a little too hard, and 10% of people have reported getting
   injured while decorating, according to an online survey of 2,050 consumers by
   ValuePenguin.com.


 * AY CARAMBA! HOMER SIMPSON’S ACCIDENTS REALLY ADD UP
   
   A Los Angeles law firm wanted Americans to understand the high costs of not
   having health insurance. So they turned to Homer Simpson's decades of antics:
   50 memorable incidents from the show's 706 episodes across 31 seasons to come
   to the $143 million in medical bills, which is 443 times more than the
   average American.




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