Insurance news

• 8 people die as massive storm hits Cape Town & surrounding Western Cape

  07-06-2017 19:55
  
  A massive storm lashed Cape Town, South Africa’s second-largest city, and parts of the surrounding Western Cape province on Wednesday, claiming eight lives, downing power lines and forcing schools and some roads to close.
  
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• 5 Killed at Orlando Factory by Fired Worker

  07-06-2017 18:59
  
  A recently fired worker from an awning company in Florida followed through with a plan to kill his former colleagues, singling out five and fatally shooting them in the head before taking his own life, authorities said. John Robert Neumann …
  
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• If The Individual Insurance Market Crashes, Can People Still Get Coverage? - NPR

  07-06-2017 18:31 via npr.org
  
  NPR
  If The Individual Insurance Market Crashes, Can People Still Get Coverage?
  NPR
  In his high-stakes strategy to overhaul the federal health law, President Donald Trump is threatening to upend the individual health insurance market. But if the market actually breaks, could anyone put it back together again? The question is more than ...and more »
  
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• If The Individual Insurance Market Crashes, Can People Still Get Coverage? - KRVS

  07-06-2017 18:31 via krvs.org
  
  KRVS
  If The Individual Insurance Market Crashes, Can People Still Get Coverage?
  KRVS
  People who buy their own health insurance and make too much to get subsidies are most likely to feel the pain of an unstable market. PhotoAlto/Frederic Cirou / Getty Images. In his high-stakes strategy to overhaul the federal health law, President ...
  
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• Ammonia Leak at Chicago-Area Food Processing Plant Sends 7 to Hospitals

  07-06-2017 18:30
  
  Authorities say seven people, including two firefighters, have been taken to hospitals for treatment following an ammonia leak at a food processing facility in suburban Chicago. Streamwood fire Chief Chris Clark says crews responded late Monday to the Fresh Express …
  
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• XL Catlin Raises Global Property Capacity by 25% to $500 Million

  07-06-2017 18:29
  
  XL Catlin has raised its global property insurance capacity by 25 percent to US$500 million, which is available on a quota share or layered basis,. With this capacity increase, the company said it will better address clients’ global and domestic …
  
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• 2 Corpus Christi Insurance Agencies Merge, Join Leavitt Group

  07-06-2017 18:26
  
  Two Corpus Christi, Texas-based employee benefits providers, Heavin Insurance Agency and Arvak Insurance Group, have merged and joined the insurance broker network, Leavitt Group, to become Heavin, Otto & Leavitt. Will Heavin of Heavin Insurance Agency and John Otto of …
  
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• Insurance Broker MD Jensvold Adds Zurich’s Rhodes in Houston

  07-06-2017 18:24
  
  MD Jensvold has hired David Rhodes to manage the brokerage department for the Houston-based managing general agency and surplus lines insurance broker. Rhodes joins Jensvold from Zurich Energy & Marine where he was the head of U.S. Energy, Excess & …
  
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• Insurance Companies Continue to Decrease Hedge Fund Exposures - Chief Investment Officer

  07-06-2017 18:16 via ai-cio.com
  
  Insurance Companies Continue to Decrease Hedge Fund Exposures
  Chief Investment Officer
  A new A.M. Best special report has found that 65% of US life/annuity (L/A) insurers and 60% of US property/casualty (P/C) organizations have cut their investments in hedge funds due to high fees that have been aggravated by below-market returns, and ...
  
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• IASA technology conference prepares insurers for the future

  07-06-2017 18:10
  
  Astronaut Scott Kelly tells attendees that space is not the limit.
  
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• Texas Governor Signs Statewide Texting While Driving Ban

  07-06-2017 17:58
  
  Texas Gov. Greg Abbott has signed into law a measure banning texting while driving statewide. Under HB 62 by Midland Rep. Tom Craddick, drivers who are caught using a phone to text, send email or post to social media while …
  
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• Are consumers ready for connected cars and UBI? [infographic]

  07-06-2017 17:45
  
  U.S. drivers are embracing connected cars and usage-based auto insurance, according to a Willis Towers Watson survey.
  
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• Sen. Rapert now chairs a state committee on health insurance - THV 11

  07-06-2017 17:01 via thv11.com
  
  THV 11
  Sen. Rapert now chairs a state committee on health insurance
  THV 11
  LITTLE ROCK, Ark. (KTHV) – State senator Jason Rapert of District 35 will now chair the newly-created Health Insurance Marketplace Oversight Subcommittee. The subcommittee is a part of the Legislative Council, the body of lawmakers that monitors the ...and more »
  
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• S&P Revises AIG Outlook to Negative Citing Commercial Lines Challenges

  07-06-2017 17:00
  
  Ratings agency Standard & Poor’s has revised its rating outlook to negative from stable for American International Group (AIG). The move came despite AIG recently hiring a new CEO, Brian Duperreault. At the same time, S&P Global Ratings affirmed its …
  
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• $2M Award by California Jury to Young Relative of Trinity Network Founders

  07-06-2017 16:57
  
  A Southern California jury awarded $2 million to the granddaughter of Trinity Broadcasting Network founders Jan and Paul Crouch, finding that her grandmother acted outrageously in refusing to report the girl’s sexual assault by an employee. Carra Crouch, now 24, …
  
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• Recognizing success: Michele Centeno - Insurance Business America

  07-06-2017 16:51 via insurancebusinessmag.com
  
  Insurance Business America
  Recognizing success: Michele Centeno
  Insurance Business America
  It's been a blockbuster year for Michele Centeno, as she's picked up a number of industry awards and recognitions. None of it was expected, she says, but it's been more than welcome. In the hyper-competitive insurance world, success breeds success.
  
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• Hub Acquires Assets of California-Based The Ponce De Leon Insurance Group

  07-06-2017 16:49
  
  Hub International Ltd. has acquired the assets of Elk Grove, Calif. The Ponce de Leon Insurance Group Inc., dba Colton Insurance Associates. Terms of the deal were not disclosed. The Colton team will join Hub’s Sacramento operations reporting to Rob …
  
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• Around the P&C insurance industry: June 7, 2017

  07-06-2017 16:40
  
  News from Arthur J. Gallagher & Co., Specialty Program Group, Farmers and more.
  
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• NY criticized for keeping proposed 2018 health insurance rate hikes under wraps - Syracuse.com

  07-06-2017 16:22 via syracuse.com
  
  Syracuse.com
  NY criticized for keeping proposed 2018 health insurance rate hikes under wraps
  Syracuse.com
  SYRACUSE, N.Y. -- The insurance industry says New York is leaving consumers in the dark by not releasing details of proposed 2018 health insurance rate increases health plans submitted to the state two weeks ago. The state Department of Financial ...and more »
  
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• Egg Harbor Township residents to see discount on flood insurance - Shore News Today

  07-06-2017 16:05 via shorenewstoday.com
  
  Shore News Today
  Egg Harbor Township residents to see discount on flood insurance
  Shore News Today
  EGG HARBOR TOWNSHIP — Township property owners who have federal flood insurance will receive a 25 percent discount starting Oct. 1, Mayor James 'Sonny' McCullough said. McCullough said the discount is the result of a multi-year process which ...and more »
  
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• MarketScout Sells Workers’ Compensation Business to Specialty Program Group

  07-06-2017 15:12
  
  Dallas-based insurance exchange MarketScout, which provides agents with access to specialty markets, has sold its workers’ compensation managing general agency business to Specialty Program Group. MarketScout said it sold the specialty unit, which it said handles $100 million in business, in order …
  
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• What Is Blockchain and How Does It Work?

  07-06-2017 14:05
  
  First of Two Articles While everyone talks about blockchain, also known as mutual distributed ledger technology, just a few people actually know what this technology can do and how it could someday revolutionize the re/insurance industry, just by streamlining back-office …
  
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• World’s Renewable Energy Projects Fall Short of Paris Climate Goals: IEA

  07-06-2017 13:20
  
  Barely one tenth of renewable energy technology is ready to meet long-term climate change targets as governments have failed to adequately support large-scale deployment, a report by the International Energy Agency showed on Tuesday. Under a global climate pact, called the Paris Agreement, nearly 200 …
  
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• RCV vs. ACV: Know these loss claim settlement caveats

  07-06-2017 13:00
  
  Repair costs and local regulations are just two factors that can impact an insured's settlement amount.
  
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• XL Catlin Promotes Gerbaud to Head International Environmental

  07-06-2017 12:47
  
  XL Catlin’s insurance operations announced the promotion of Adias Gerbaud to head international environmental. In her newly expanded role, Gerbaud will be responsible for managing XL Catlin’s environmental portfolio while leading a team of eleven underwriters across the UK, Western …
  
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• Delaware Streamlines Emergency CAT Adjuster Licensing Requirements

  07-06-2017 12:39
  
  Delaware Insurance Commissioner Trinidad Navarro has taken steps to streamline the licensing process for insurance adjusters who come to Delaware. The aim of this initiative is to immediately help consumers who have filed a claim due to an emergency or …
  
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• Motorcycle gang charged in high-tech auto theft scheme targeting Jeeps

  07-06-2017 12:30
  
  Prosecutors allege the defendants were responsible for the theft of more than 150 Jeep Wranglers worth approximately $4.5 million within San Diego County since 2014.
  
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• The No. 1 reason most people buy insurance from you

  07-06-2017 12:15
  
  Why do your clients select you as their insurance agent, especially since there are countless agents to choose from both locally and online?
  
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• Arthur J. Gallagher & Co. Buys UK-Based Total Reward Group

  07-06-2017 12:13
  
  Arthur J. Gallagher & Co., the insurance broker and risk management service firm, has announced the acquisition of Total Reward Group in Sevenoaks, England. Terms of the transaction were not disclosed. Founded in 2005, Total Reward Group is a consultancy …
  
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• New Jersey’s World Insurance Associates Acquires Wm. G. Palermo Inc.

  07-06-2017 12:11
  
  World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, N.J., acquired Wm. G. Palermo Inc. of Linden, N.J., on April 1, 2017. Wm. G. Palermo Inc. is a third-generation, family-owned insurance agency that was established on March …
  
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• Cuomo Takes Steps to Keep New York Insurers in Obamacare

  07-06-2017 12:07
  
  New York Governor Andrew Cuomo announced steps on Monday to encourage insurers to keep selling health plans in the state’s Obamacare exchange, as the companies withdraw from other markets amid uncertainty surrounding the health law. The state is tying participation …
  
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• Feinberg Could Be Tapped to Head $1B Takata Compensation Fund

  07-06-2017 12:00
  
  A federal judge may tap attorney and longtime compensation adviser Kenneth Feinberg to oversee claims for nearly $1 billion that Takata Corp. will pay out to victims of defective air bag inflators linked to numerous deaths and injuries, court officials …
  
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• Bevin Plans To Work With Legislature On Repealing Health Insurance Tax - 89.3 WFPL

  07-06-2017 12:00 via wfpl.org
  
  Bevin Plans To Work With Legislature On Repealing Health Insurance Tax
  89.3 WFPL
  Gov. Matt Bevin can't repeal a 1 percent tax he said was one reason to dismantle the state health insurance exchange before he was elected in 2015. So he's planning to work with the legislature next session to remove the tax, which funded the now ...and more »
  
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• Wife brutally murders husband for life insurance – gets minimum sentence - Insurance Business America

  07-06-2017 11:16 via insurancebusinessmag.com
  
  Insurance Business America
  Wife brutally murders husband for life insurance – gets minimum sentence
  Insurance Business America
  Wife brutally murders husband for life insurance – gets minimum sentence A 56-year-old woman in DeKalb County, Atlanta, received a life sentence Tuesday over the 2009 murder of her husband for $1.2 million in life insurance. Judge Gail Flake said she ...
  
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• Do You Need Libel Insurance for Your Tweets? - Bloomberg

  07-06-2017 11:01 via bloomberg.com
  
  Bloomberg
  Do You Need Libel Insurance for Your Tweets?
  Bloomberg
  In the age of social media outrage, policies offer defamation coverage along with home and auto. by. Polly Mosendz. @polly More stories by Polly Mosendz. Wed Jun 07 2017 01:00:06 GMT-0700 (PDT) ...and more »
  
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• 5 exotic contents claims cases

  07-06-2017 11:00
  
  What do an Oscar, gorilla and Picasso have in common?
  
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• Bill would change rules on unclaimed life insurance - Illinois News Network

  07-06-2017 08:00 via ilnews.org
  
  Illinois News Network
  Bill would change rules on unclaimed life insurance
  Illinois News Network
  If signed into law, a new bill would make Illinois insurance companies send out any life insurance claims they may have been quietly sitting on since the turn of the century. prev. next. ILLINOIS NEWS NETWORK. Unclaimed life insurance policies often go ...and more »
  
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• Rising premiums, political strife have muddled future of health insurance - Omaha World-Herald

  07-06-2017 07:04 via omaha.com
  
  Omaha World-Herald
  Rising premiums, political strife have muddled future of health insurance
  Omaha World-Herald
  Health insurance is a hot topic around the dinner table and in the halls of government. People worry about the premiums they pay, the access they have to good doctors and the future of health care. Legislators wrestle with costs, policy and deep ...and more »
  
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• Why Insurance Lawyer Grounded FAA's Drone Registry - Insurance Journal

  07-06-2017 07:03 via insurancejournal.com
  
  Insurance Journal
  Why Insurance Lawyer Grounded FAA's Drone Registry
  Insurance Journal
  John Taylor didn't like the idea of being forced by the Federal Aviation Administration to register his drones. The requirement was "authoritarian,'' the M.and more »
  
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• Why Insurance Lawyer Grounded FAA’s Drone Registry

  07-06-2017 07:00
  
  John Taylor didn’t like the idea of being forced by the Federal Aviation Administration to register his drones. The requirement was “authoritarian,” the Maryland attorney said, and wouldn’t deter reckless fliers. So the aviation law novice — he works in …
  
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• U.S. Facing Rise in Workplace Homicides

  07-06-2017 07:00
  
  Fatal workplace shootings, like the one Monday in Orlando, Florida, are ticking upward in the United States, government statistics show. Revenge against an employer, romantic partner or co-workers often is the motive, experts say. Reports of workplace violence are quick …
  
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• Ransomware and the perils of shoddy attribution

  07-06-2017 07:00
  
  Had North Korea launched the WannaCry attack, it likely would have attacked more strategic targets, or it would have attempted to capture more significant profits.
  
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• Main Street America Promotes Gaynor to Chief Underwriting Officer

  07-06-2017 07:00
  
  The Main Street America Group has promoted Dan Gaynor to senior vice president, chief underwriting officer. Gaynor, who has been the super-regional property/casualty insurance company’s vice president of commercial lines since 2011, will now oversee commercial lines and personal lines. His …
  
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• Insurance Lawyer’s Concern with ‘Government Overreach’ Grounded FAA’s Drone Registry

  07-06-2017 07:00
  
  John Taylor didn’t like the idea of being forced by the Federal Aviation Administration to register his drones. The requirement was “authoritarian,” the Maryland attorney said, and wouldn’t deter reckless fliers. So the aviation law novice — he works in …
  
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• Letter: Private insurance no better | Northwest Herald - Northwest Herald

  07-06-2017 06:48 via nwherald.com
  
  Letter: Private insurance no better | Northwest Herald
  Northwest Herald
  Do we want everyone to get the best possible care when ill? Do we want anyone, including children, to be denied the best care because they can't afford it?and more »
  
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• National Hurricane Center’s New Weather Advisory Tactic: Storm Prep Deadlines

  07-06-2017 06:28
  
  Some coastal residents always put off emergency preparations until storm clouds loom on the horizon. The National Hurricane Center is going to try giving those people a deadline this year, issuing experimental advisories showing when tropical-storm force winds may hit …
  
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• Maximum Adds Searcy to Florida Transportation Practice

  07-06-2017 06:27
  
  Maximum, an independent, Chicago-based excess and surplus lines wholesaler, has added Anthony Searcy to its transportation practice in the Jacksonville, Fla. area. Searcy returns to Fla. from the Kansas City area where he owned a retail agency before moving on …
  
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• Georgia High Court Rules Six Flags to Pay $35M to Man Beaten Near Park

  07-06-2017 06:13
  
  The Georgia Supreme Court says a man who was severely beaten while leaving Six Flags Over Georgia a decade ago can collect $35 million in legal damages from the amusement park and his attackers. The ruling by Georgia’s high court …
  
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• Pet Insurance Is the Latest Work Perk - New York Times

  07-06-2017 06:02 via nytimes.com
  Pet Insurance Is the Latest Work Perk
  New York Times
  Jessica Parsons, an intensive-care nurse in Indianapolis, had given little thought to pet insurance. But when her employer, Indiana University Health, offered it as part of the company's regular benefits package several years ago, she signed up, the ...
  
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• Karkowsky Succeeds Pipoly as AmTrust CFO

  07-06-2017 04:11
  
  AmTrust named one of its executives focused on merger as its new chief financial officer. Adam Karkowsky has served as AmTrust’s executive vice president for Strategic Development and Mergers & Acquisitions since March 2011. He’ll replace Ronald Pipoly Jr., who has served as …
  
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