Insurance news

• POINT OF VIEW: Property insurance panic is misplaced - Palm Beach Post

  22-12-2014 23:47 via palmbeachpost.com
  
  POINT OF VIEW: Property insurance panic is misplaced
  Palm Beach Post
  Recent articles have raised questions about the ability of Florida-based homeowners insurance companies to respond to catastrophic storms. But the finger-pointing comes from those unwilling to be part of the solution. The storms of 2004 and 2005 ...
  
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• Understanding Life Insurance Loans - Investopedia

  22-12-2014 23:23 via investopedia.com
  
  Investopedia
  Understanding Life Insurance Loans
  Investopedia
  Unlike term life insurance, which has a set time limit on its coverage period and does not accumulate cash value, universal life does have a cash component, especially later on. "In the early years of the policy, most of the premium goes to funding the ...
  Life Insurance ValuationWealthManagement.com
  
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• GBI investigates Milledgeville mayor's insurance agency - Macon Telegraph (blog)

  22-12-2014 23:20 via macon.com
  Macon Telegraph (blog)
  GBI investigates Milledgeville mayor's insurance agency
  Macon Telegraph (blog)
  That report came from the owner of a Gordon trucking company. The man said he bought insurance through Bentley in April but soon began getting notices that he didn't have workman's compensation coverage. That was supposed to be part of the insurance ...
  Milledgeville mayor's business under investigation13WMAZ
  
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• How to Give a Life Insurance Checkup - Financial-Planning.com

  22-12-2014 22:52 via financial-planning.com
  
  How to Give a Life Insurance Checkup
  Financial-Planning.com
  If you're like most advisors, life insurance planning is an integral component of your wealth management approach for high-net-worth clients. You probably begin the planning process by matching coverage levels to the net worth of the client. But if you ...
  
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• Woman who had ex-boyfriend killed for $1.5 million in insurance gets life in ... - MLive.com

  22-12-2014 22:45 via mlive.com
  
  Woman who had ex-boyfriend killed for $1.5 million in insurance gets life in ...
  MLive.com
  GRAND HAVEN, MI – Maryann Castorena, convicted of having her ex-boyfriend killed to collect $1.5 million in a life-insurance payout, was sentenced Monday, Dec. 22, to a mandatory term of life in prison without hope for parole. Castorena conspired with ...
  
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• Enrollment in Florida commercial health insurance markets declines - South Florida Business Journal

  22-12-2014 22:24 via bizjournals.com
  
  South Florida Business Journal
  Enrollment in Florida commercial health insurance markets declines
  South Florida Business Journal
  Total enrollment in Florida's commercial health insurance marketplaces steadily declined in the five years leading up to 2013. Between 2012 and 2013, enrollment fell 5.9 percent to 3.1 million, according to an annual report from regulators. The Florida ...
  
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• CSAA’s Meyer Named to Insurance Institute for Highway Safety Board

  22-12-2014 22:14
  
  California State Automobile Association Insurance Group Chief Operations Officer Greg Meyer was named a board member of the Insurance Institute for Highway Safety. Meyer joined  CSAA, an AAA Insurer, in 2014. Before that Meyer was the senior personal lines executive …
  The article CSAA’s Meyer Named to Insurance Institute for Highway Safety Board appeared first on Insurance Journal.
  
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• For Sony, North Korea Hack An Insurance Nightmare Before Christmas - International Business Times

  22-12-2014 21:58 via ibtimes.com
  
  International Business Times
  For Sony, North Korea Hack An Insurance Nightmare Before Christmas
  International Business Times
  Think that little fender bender in the mall parking lot is an insurance headache? Try being Sony Pictures CEO Michael Lynton. It could be months before the studio has a full picture of how the hack that revealed sensitive corporate emails will impact ...
  North Korea's Sony hack seen as cyber security game-changerBusiness Insurance
  Insurance news story develops from So
  
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• Jury rules for building materials manufacturer in asbestos death case

  22-12-2014 21:04
  A jury in Oakland, California, ruled in favor of building materials manufacturer CertainTeed Corp. last week in a case over whether the company’s asbestos pipes caused a man’s death from lung cancer.
  
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• One more week to apply for South Napa earthquake disaster assistance

  22-12-2014 20:57
  The FEMA deadline for aid is Dec. 29, 2014.
  
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• Supreme Court to hear King v. Burwell health reform subsidy case on March 4

  22-12-2014 20:19
  The U.S. Supreme Court has scheduled oral arguments in King v. Burwell for March 4, a court spokesperson confirmed Monday afternoon.
  
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• Your garage is a bigger risk than you think: Here are 7 ways to keep it safe

  22-12-2014 20:01
  Did you know that some 6,600 residential garage fires occurred in the U.S. between 2009 and 2011, causing 30 deaths and $457 million in property damage?
  
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• New Jersey Beach Owner Sues to Stop Dune Project

  22-12-2014 19:49
  
  A major Jersey shore beach owner is suing the state, the federal government and the borough of Point Pleasant Beach over a project to establish protective sand dunes along the state’s shoreline. Jenkinson’s Pavilion, one of the state’s largest and …
  The article New Jersey Beach Owner Sues to Stop Dune Project appeared first on Insurance Journal.
  
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• Drone safety promoted amid rising close calls and holiday sales

  22-12-2014 19:48
  U.S. regulators and drone industry groups have begun an education campaign in response to increasing safety incidents in the skies.
  
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• $39M settlement reached in fatal 2011 Indiana stage collapse

  22-12-2014 19:43
  A law firm said on Friday that it has reached a $39 million settlement with 19 of the 20 defendants sued after a fatal Indiana State Fair stage collapse in 2011.
  
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• All Risks Hires Branson as Personal Line VP in Virginia

  22-12-2014 19:29
  
  All Risks Ltd., an independent wholesaler based in Hunt Valley, Maryland, has hired Lee Branson as vice president of Personal Lines division. Branson will be responsible for All Risks’ nationwide personal insurance practice and will be located at the firm’s …
  The article All Risks Hires Branson as Personal Line VP in Virginia appeared first on Insurance Journal.
  
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• What is ‘price optimization’ and what does it mean for premiums?

  22-12-2014 19:28
  Consumer Federation of America uncovers Allstate document, which brings basis for pricing auto premiums into question
  
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• No Change in XL Offer Says Catlin

  22-12-2014 19:27
  
  A spokesperson at Catlin Group Limited’s London office said that the “possible offer” to purchase Catlin made by XL Group, as announced on December 17, was still ongoing, and that no final agreement has yet been reached. The only statement Catlin …
  The article No Change in XL Offer Says Catlin appeared first on Insurance Journal.
  
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• MN Supreme Court rules against insurance company in storm damage dispute - WDAZ

  22-12-2014 19:17 via wdaz.com
  
  MN Supreme Court rules against insurance company in storm damage dispute
  WDAZ
  All 20 Cedar Bluff townhomes sustained some siding damage. But American Family Insurance would only pay to replace siding that was actually damaged, even though the color of the new siding would not perfectly match the old siding. "We were shocked.
  
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• China condemns cyberattacks, but says no proof N.Korea hacked Sony

  22-12-2014 19:03
  (Reuters) — China said on Monday it opposed all forms of cyberattacks but there was no proof that North Korea was responsible for the hacking of Sony Pictures Entertainment Inc., as the United States has said.
  
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• Lyft Gets Pennsylvania Regulatory Nod, Except in Philadelphia

  22-12-2014 18:57
  
  Ride-sharing service Lyft received regulatory approval on Dec. 18 to operate for two years everywhere in Pennsylvania except for Philadelphia, giving it 30 days to accept conditions required by the Pennsylvania Public Utility Commission. The utility commissioners voted 4-1 to …
  The article Lyft Gets Pennsylvania Regulatory Nod, Except in Philadelphia appeared first on Insurance Journal.
  
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• First Lawsuits Filed Over Fatal South by Southwest Crash in Austin

  22-12-2014 18:46
  
  The first wave of victim lawsuits since four people died at the South by Southwest music festival in Austin, Texas, accused organizers of safety lapses after a driver smashed through a barricade and into a crowd of concertgoers. The suits …
  The article First Lawsuits Filed Over Fatal South by Southwest Crash in Austin appeared first on Insurance Journal.
  
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• GM gets 104 more claims for faulty ignition switch compensation

  22-12-2014 18:33
  (Reuters) — General Motors Co. has received 104 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 2,430, according to the official administering the compensation program.
  
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• Lindemann to Retire as President, COO of CNA Commercial Insurance

  22-12-2014 18:32
  
  Chicago-based CNA Financial Corp. announced the retirement of Robert Lindemann, president and chief operating officer of CNA Commercial — a $3.5 billion commercial property and casualty business — effective Dec. 31, 2014. With an insurance career that spans more than three decades, Lindemann has used …
  The article Lindemann to Retire as President, COO of CNA Commercial Insurance appeared first on Insurance Journal.
  
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• 2 killed, 3 Hurt in Explosion at Oklahoma Oil Rig

  22-12-2014 18:27
  
  An explosion and fire at a southeastern Oklahoma oil rig early on Dec. 19 killed two workers and injured three others, two of them critically. The explosion occurred around 1 a.m. on the deck of a rig about 2 miles west …
  The article 2 killed, 3 Hurt in Explosion at Oklahoma Oil Rig appeared first on Insurance Journal.
  
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• Ohio Supreme Court Upholds Use of Traffic Cameras

  22-12-2014 18:26
  
  A divided Ohio Supreme Court again upheld use of traffic camera enforcement by the state’s municipalities, reversing a lower court after a year of legal setbacks for camera advocates. The Supreme Court justices ruled 4-3 to stick to their 2008 …
  The article Ohio Supreme Court Upholds Use of Traffic Cameras appeared first on Insurance Journal.
  
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• Ohio Supreme Court Upholds Use of Traffic Camera Enforcement

  22-12-2014 18:26
  
  A divided Ohio Supreme Court again upheld use of traffic camera enforcement by the state’s municipalities, reversing a lower court after a year of legal setbacks for camera advocates. The Supreme Court justices ruled 4-3 to stick to their 2008 …
  The article Ohio Supreme Court Upholds Use of Traffic Camera Enforcement appeared first on Insurance Journal.
  
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• North Little Rock Schools Want Insurer to Help Pay for Tax Error

  22-12-2014 18:24
  
  The North Little Rock School Board wants the Pulaski County assessor’s office to seek help from its insurance company after problems with tax bills diverted $1 million to Pulaski County schools The Arkansas Democrat-Gazette reported that officials likened the request …
  The article North Little Rock Schools Want Insurer to Help Pay for Tax Error appeared first on Insurance Journal.
  
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• Nebraska Court: No Insurance Coverage for Woman Bitten by Dog

  22-12-2014 18:23
  
  A woman who had part of her lower lip bitten off by a dog she was watching for friends has no right to seek payment of medical expenses from the owners’ home insurance company, the Nebraska Supreme Court ruled Friday. …
  The article Nebraska Court: No Insurance Coverage for Woman Bitten by Dog appeared first on Insurance Journal.
  
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• Report: Insurance Won’t Cover $12.7M North Dakota Industrial Fire

  22-12-2014 18:22
  
  The fire at an oil field supply company in northwest North Dakota in July has cost the owner $12.7 million. The Williston Herald reports insurance didn’t cover the incident at Williston’s Red River Supply facility, which stored dozens of chemicals …
  The article Report: Insurance Won’t Cover $12.7M North Dakota Industrial Fire appeared first on Insurance Journal.
  
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• No Insurance Coverage for $12.7M North Dakota Industrial Fire

  22-12-2014 18:22
  
  The fire at an oil field supply company in northwest North Dakota in July has cost the owner $12.7 million. The Williston Herald reports insurance didn’t cover the incident at Williston’s Red River Supply facility, which stored dozens of chemicals …
  The article No Insurance Coverage for $12.7M North Dakota Industrial Fire appeared first on Insurance Journal.
  
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• NYC Fire Department on Pace to Have Its Busiest Year on Record

  22-12-2014 18:00
  
  The Fire Department of the City of New York is on pace to have its busiest year on record, according to city officials. New York City Mayor Bill de Blasio and FDNY Commissioner Daniel Nigro said last week that the …
  The article NYC Fire Department on Pace to Have Its Busiest Year on Record appeared first on Insurance Journal.
  
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• Catlin sells European personalized auto insurance service for $133M

  22-12-2014 17:49
  Catlin Insurance Co. Ltd., a subsidiary of Hamilton, Bermuda-based Catlin Group Ltd. has agreed to sell its investment in Box Innovation Group Ltd. a personalized auto insurance service that trades as Insure the Box, to Aioi Nissay Dowa Insurance Co.
  
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• Eastern Insurance Group Hires Belmonte as VP in Massachusetts

  22-12-2014 17:47
  
  Eastern Insurance Group in Natick, Massachusetts, has hired Janice Belmonte as vice president and account executive for Eastern Benefits Group, the firm’s employee benefits division. Belmonte will work out of Eastern Benefits Group’s Norwell, Massachusetts, office. She will handle group …
  The article Eastern Insurance Group Hires Belmonte as VP in Massachusetts appeared first on Insurance Journal.
  
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• CNA commercial president and COO Lindemann to retire

  22-12-2014 17:41
  Robert Lindemann will retire as president and chief operating officer of CNA Commercial on Dec. 31, CNA Financial Corp. announced Friday.
  
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• Injured Snowboarder Can Sue, Oregon High Court Rules

  22-12-2014 17:40
  
  The Oregon Supreme Court has ruled a ski resort’s broad liability waiver cannot prevent a paralyzed snowboarder from suing. The justices ruled that the liability waiver was “unconscionable” and contrary to public policy, potentially opening the door for more people …
  The article Injured Snowboarder Can Sue, Oregon High Court Rules appeared first on Insurance Journal.
  
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• Arizona City To Use Digital Speed Limit Signs

  22-12-2014 17:36
  
  The city of Scottsdale, Ariz. is installing digital speed limit signs that will be able to change limits as needed. KSAZ-TV reported that Scottsdale officials plan to implement four adjustable signs later this month. City Transportation Director Paul Basha says the …
  The article Arizona City To Use Digital Speed Limit Signs appeared first on Insurance Journal.
  
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• Employees at Montana Firm Get $7.3M in Settlement awards

  22-12-2014 17:34
  
  As many as 200 former employees of Vann’s Inc. will split $7.3 million under a settlement agreement in a lawsuit against former corporate officers. The Missoulian reported that the notice of settlement of the employees’ lawsuit was filed in federal …
  The article Employees at Montana Firm Get $7.3M in Settlement awards appeared first on Insurance Journal.
  
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• Amlin acquires $200M reinsurance coverage for U.S., European storms

  22-12-2014 17:33
  Amlin P.L.C. has acquired reinsurance coverage of up to $200 million for U.S. named storm, U.S. earthquake and European windstorm perils via a Bermuda-based special purpose insurer, Tramline Re II Ltd., Amlin announced Monday.
  
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• Former California Highway Patrolmen Convicted of Worker’s Comp Fraud

  22-12-2014 17:31
  
  A former California Highway Patrol officer has been convicted in a case involving workers’ compensation insurance fraud. A Sacramento County jury on Thursday convicted Tony Yao on felony charges of failure to disclose a prior motor vehicle accident and resulting …
  The article Former California Highway Patrolmen Convicted of Worker’s Comp Fraud appeared first on Insurance Journal.
  
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• Whistleblower on Idaho School District Gets $160K Settlement

  22-12-2014 17:29
  
  A former accountant for the Nampa School District in Idaho is being paid $160,000 in a settlement of a whistleblower lawsuit she filed nearly three years ago. The Idaho Press-Tribune reported that Danielle Sisayaket claimed she was fired because she spoke …
  The article Whistleblower on Idaho School District Gets $160K Settlement appeared first on Insurance Journal.
  
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• California DMV to Miss Deadline for Autonomous Vehicle Rules

  22-12-2014 17:27
  
  California’s Department of Motor Vehicles will miss a year-end deadline to adopt new rules for cars of the future because regulators first have to figure out how they’ll know whether “driverless” vehicles are safe. It’s a rare case of the …
  The article California DMV to Miss Deadline for Autonomous Vehicle Rules appeared first on Insurance Journal.
  
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• Sony just hired the real-life version of Olivia Pope to oversee its ongoing PR disaster

  22-12-2014 16:52
  Sony Pictures Entertainment has hired crisis manager Judy Smith, the inspiration for the character of Olivia Pope on the popular television show "Scandal," to help manage the controversy around the decision to pull the satirical movie "The Interview."
  
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• Bermuda commercial insurers in line for Solvency II compliance

  22-12-2014 16:51
  A report from the European Insurance and Occupational Pensions Authority has endorsed key aspects of Bermuda’s commercial insurance and reinsurance regulatory regime as meeting the criteria of Solvency II, the Bermuda Monetary Authority said Friday.
  
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• FEMA launches Interim Office of the Flood Insurance Advocate

  22-12-2014 16:45
  Interim Office to specialize in helping clients/policyholders with NFIP issues
  
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• S.Korea nuclear plant operator claims hack, raising alarm

  22-12-2014 16:42
  (Reuters) — Computer systems at South Korea’s nuclear plant operator have been hacked, the company said on Monday, sharply raising concerns about safeguards around nuclear facilities in a country that remains technically at war with North...
  
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• Insurance will be available after TRIA expiration, but cost will be a factor - PropertyCasualty360

  22-12-2014 16:25 via propertycasualty360.com
  PropertyCasualty360
  Insurance will be available after TRIA expiration, but cost will be a factor
  PropertyCasualty360
  Although many industry groups expressed “shock, dismay and disappointment” in reaction to the news earlier this month that the Terrorism Risk Insurance Program Reauthorization Act of 2014 (TRIPRA) will be allowed to expire, ratings agencies and brokers ...
  Senate's failure to reauthorize TRIA sends shockwaves through insurance sectorBusiness Insurance
  Senate Fails to
  
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• Insurance will be available after TRIA expiration, but cost will be a factor

  22-12-2014 16:19
  Most underwriting should be “business as usual” in the near term.
  
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• Express Scripts to cover AbbVie hepatitis C drug, drops Gilead treatment

  22-12-2014 16:11
  (Reuters) — The nation's largest pharmacy benefit manager has lined up a cheaper price from AbbVie Inc. on its newly approved hepatitis C treatment and, in most cases, will no longer cover Gilead Sciences Inc.
  
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• North Carolina Denies Homeowners Insurance Rate Hike - Insurance Journal

  22-12-2014 15:57 via insurancejournal.com
  
  WTVD-TV
  North Carolina Denies Homeowners Insurance Rate Hike
  Insurance Journal
  North Carolina insurance companies that wanted to raise the cost of homeowners coverage by an average of roughly 25 percent were told Friday the state's regulator is instead approving a zero overall change. Insurance Commissioner Wayne Goodwin said ...
  Goodwin orders no insurance increase for North Carolina homeownersWTVD-TV
  NC insurance commissioner denies industry's request for rate hike on ...Charlott
  
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