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Man Admits He Embezzled $700K from Maine Boatyard
A Massachusetts man who worked as a financial manager for a Maine boatyard has admitted to embezzling over $700,000 from the company. The Portland Press Herald reports 50-year-old Steven Nygren, of Salem, Mass., pleaded guilty to bank fraud, credit card fraud …

POSTED JUNE 23, 2017 1:23 PM
Massachusetts House Approves Bill to Redo Recreational Marijuana Law
A bill that would repeal and replace the recreational marijuana law approved by Massachusetts voters in November cleared the House late Wednesday. Critics who lashed out at the proposal accused lawmakers of ignoring the will of the electorate and taking …

POSTED JUNE 23, 2017 1:17 PM
JLT Re Appoints Chubb’s Williams as Partner in Bermuda Operation
JLT Re, the global provider of reinsurance broking and consultancy, has appointed Deanna Williams as a partner in JLT Re’s Bermuda operation. She will report to Charles Withers-Clarke, partner, JLT Re in Bermuda, who said that Williams will focus on …

POSTED JUNE 23, 2017 1:12 PM
Beecher Carlson Expands Energy Practice in the Northeast
Beecher Carlson Insurance Services LLC (Beecher Carlson), a specialized large account insurance broker, has expanded the northeast operations of its energy practice. Sara Kane has been appointed senior vice president. She will be responsible for developing and managing energy risk …

POSTED JUNE 23, 2017 1:09 PM
XL Catlin Promotes E&S Property Insurance Regional Leader in Boston
XL Catlin’s excess and surplus (E&S) insurance team has promoted Caitlin Murphy from senior underwriter to the role of eastern regional vice president of E&S Property. In her new role, Murphy will direct regional underwriting operations and product and business …

POSTED JUNE 23, 2017 1:02 PM
Randall & Quilter to Sell Lloyd’s Agency to Medical Liability Insurer Coverys
Randall & Quilter Investment Holdings Ltd. announced it has reached agreement to sell the entire share capital of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability insurance based in Boston, Mass. …

POSTED JUNE 23, 2017 12:48 PM
Weed Warning: Legalizing Marijuana Tied to Rise in Crashes in 3 States by HLDI
Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about three percent higher overall than would have been expected without legalization, a new insurance report has found. The Highway Loss Data Institute …

POSTED JUNE 23, 2017 12:38 PM
Brexit Critics Now Emboldened to Block Prime Minister’s Plans for ‘Hard Brexit’
When she called a snap election in April, Theresa May said she needed voters’ backing to silence rivals in Parliament who were trying to frustrate her plans for Brexit. Instead, the British prime minister’s electoral humiliation seven weeks later weakened …

POSTED JUNE 23, 2017 12:10 PM
After Drenching Gulf Coast, Tropical Storm Cindy Heads North, East
The remnants of Tropical Storm Cindy brought tornadoes and flooding to the U.S. Gulf Coast on Thursday and its heavy rains will drench much of the eastern United States in coming days, forecasters said. Flooding and road closures stretched from …

POSTED JUNE 23, 2017 11:10 AM
Reinsurance Rates Continue to Soften with No End in Sight: S&P
The global reinsurance sector is poised for yet another full year of declining rates, ensuring that a hoped-for bottom of the current market cycle will remain elusive in 2017, Standard & Poor’s said in a new report. The continued downward …

POSTED JUNE 23, 2017 11:08 AM

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