Insurance news

• State fines Mercury Insurance $27.5 million for unapproved fees - Los Angeles Times

  12-01-2015 23:06 via latimes.com
  
  89.3 KPCC
  State fines Mercury Insurance $27.5 million for unapproved fees
  Los Angeles Times
  "Mercury auto insurance consumers paid $27.5 million in unapproved fees," said Commissioner Dave Jones. "While the $27.5 million fine against Mercury is significant, it is commensurate with the amount of money that was unlawfully collected from Mercury ...
  State orders insurance company to pay record $27 million fineSFGate
  State orders Mercury Insurance to pay $27.6 million fineSacram
  
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• Former Wichita insurance agent sentenced for stealing from clients - KAKE

  12-01-2015 22:57 via kake.com
  
  KAKE
  Former Wichita insurance agent sentenced for stealing from clients
  KAKE
  In 2006, a woman purchased a State Farm insurance policy through Pennington valued at $1.3 million. In 2009, Pennington contacted State Farm and changed the address for the woman's insurance policy to his business address. When State Farm asked ...
  Former insurance agent sentenced to more than three years in prison in fraud caseKansas.com
  Ex-insurance agent gets 3 1/2 years after stealing from clientsTopeka Ca
  
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• How Do I Report My Health Insurance On My Tax Return For Obamacare? - Forbes

  12-01-2015 22:46 via forbes.com
  
  How Do I Report My Health Insurance On My Tax Return For Obamacare?
  Forbes
  You're considered covered if you have insurance through the government, including Medicare, Medicaid, CHIP, retiree coverage, TRICARE, or VA health coverage; private insurance that you purchased on your own including COBRA coverage and coverage ...
  How Obamacare could complicate your tax returnWashington Post
  No health insurance? You could pay a penalty.News 10NBC
  
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• Yes, Insurance Companies: My Psychotherapy Work Is “Medically Necessary” - Slate Magazine

  12-01-2015 21:55 via slate.com
  
  Slate Magazine
  Yes, Insurance Companies: My Psychotherapy Work Is “Medically Necessary”
  Slate Magazine
  As a graduate student, I'd spent four years seeing cases practically for free as part of my training, and one unintended consequence was that on the brink of becoming a mental health professional, I'd had no exposure to the vagaries of insurance ...
  
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• Proposed settlement of $200 million reached in Quebec rail explosion

  12-01-2015 21:33
  A proposed partial settlement of nearly $200 million has been reached in the 2013 Lac-Mégantic, Quebec, train derailment and explosion disaster, attorneys said.
  
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• Michael Consedine to leave Pennsylvania insurance commissioner post

  12-01-2015 21:18
  Michael Consedine, commissioner of the Pennsylvania Insurance Department and president-elect of the National Association of Insurance Commissioners, will leave his state post Jan.
  
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• Cooperative of American Physicians in California Names Pacini CEO

  12-01-2015 21:13
  
  The Cooperative of American Physicians Inc. has named Sarah E. Pacini its new chief executive officer effective Feb. 1. Pacini most recently was vice president of risk management and insurance, president of Advocate Physician Partners Risk Purchasing Group, and chairperson …
  The article Cooperative of American Physicians in California Names Pacini CEO appeared first on Insurance Journal.
  
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• Arthur J. Gallagher & Co. Acquires e3 Financial in California

  12-01-2015 21:06
  
  Arthur J. Gallagher & Co. has acquired e3 Financial in Newport Beach, Calif. Terms of the deal were not disclosed. e3 provides employee benefits brokerage, human resource administration and financial benefits consultation services for middle market group clients and individuals …
  The article Arthur J. Gallagher & Co. Acquires e3 Financial in California appeared first on Insurance Journal.
  
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• AIG said to plan 40-year bond sale in show of debt-market faith

  12-01-2015 21:05
  American International Group Inc. is showing just how far it’s come in regaining the confidence of debt markets as the insurer bailed out by the U.S. government in 2008 plans bonds it won’t have to repay for 40 years at what could be its cheapest terms ever.
  
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• Insurance Claims Management names past Esurance exec Sharrah CEO - Columbus Business First

  12-01-2015 20:48 via bizjournals.com
  
  Columbus Business First
  Insurance Claims Management names past Esurance exec Sharrah CEO
  Columbus Business First
  A past executive with Esurance Insurance Services Inc. has been named CEO of third-party claims administrator Insurance Claims Management Inc. Wayne Sharrah had been a board member of Springfield-based ICM, the parent of CodeBlue LLC and HSG ...
  
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• Insurance industry employment is up across the board

  12-01-2015 20:43
  P&C carriers added 2,900 new hires in November 2014, a gain of 0.5% over October 2014.
  
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• U.S. military Twitter feed hacked, apparently by Islamic State sympathizers

  12-01-2015 20:30
  (Reuters) — The Twitter feed for the U.S. military command that oversees operations in the Middle East was hacked on Monday by people claiming sympathy to the Islamic State militant group being targeted in American bombing raids.
  
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• Mercury in California Ordered to Pay $27.5M for Unapproved Broker Fees

  12-01-2015 20:28
  
  California Insurance Commissioner Dave Jones ordered Mercury Insurance to pay a fine of $27.5 million because Mercury auto insurance consumers were allegedly charged unapproved broker fees. Mercury did not obtain Jones’ approval for the fees and so consumers paid more …
  The article Mercury in California Ordered to Pay $27.5M for Unapproved Broker Fees appeared first on Insurance Journal.
  
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• Annette Guarisco Fildes named head of ERISA Industry Committee

  12-01-2015 20:22
  Annette Guarisco Fildes, a long-time government affairs attorney, joined the ERISA Industry Committee on Monday as president and CEO of the Washington-based employer benefits lobbying organization.
  
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• Stone Creek in California Names Garcia Agency Specialist

  12-01-2015 20:20
  
  Andrea Garcia was named an agency specialist with Stone Creek Insurance Agency. Garcia’s focus will be to increase new personal and commercial lines business as well as help the service team accomplish a 95 percent retention. Garcia has been working …
  The article Stone Creek in California Names Garcia Agency Specialist appeared first on Insurance Journal.
  
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• IMA Names Burke Director Of Cyber Risk in Colorado

  12-01-2015 20:08
  
  IMA Inc. has named Tim Burke as the new director of cyber risk in its Denver, Colo. office. Burke expands IMA’s capabilities to address some of the most pressing issues facing companies regarding the ever changing cyber, data privacy, and …
  The article IMA Names Burke Director Of Cyber Risk in Colorado appeared first on Insurance Journal.
  
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• Allianz Global launches suite of financial lines products in the U.S.

  12-01-2015 20:00
  Paul Schiavone joins Allianz Global Corporate & Specialty following its launch of financial lines coverage products.
  
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• Cincinnati AAA acquires local insurance agency - Cincinnati Business Courier

  12-01-2015 19:45 via bizjournals.com
  
  Cincinnati Business Courier
  Cincinnati AAA acquires local insurance agency
  Cincinnati Business Courier
  AAA Allied Group, one of Cincinnati's largest insurance agencies, is growing by buying another local agency. Downtown-based AAA bought Florence-based Gateway-Potter Insurance on Jan. 1. The acquisition follows AAA's move a year ago to buy ...
  
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• Delaware Traffic Fatalities Rose 20% in 2014

  12-01-2015 19:00
  
  Highway officials say the number of traffic fatalities in Delaware in 2014 was 20 percent higher than 2013. The Office of Highway Safety said in a news release on Friday, Jan. 9, that 125 people were killed in traffic incidents …
  The article Delaware Traffic Fatalities Rose 20% in 2014 appeared first on Insurance Journal.
  
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• Louisiana Governor Appeals ‘Big Oil’ Suit to State Supreme Court

  12-01-2015 18:53
  
  The fight over whether oil companies may be sued over damage to Louisiana’s coastal marshes has been appealed to the state’s high court. The Times-Picayune reports Gov. Bobby Jindal’s administration asked the Louisiana Supreme Court to uphold the constitutionality of …
  The article Louisiana Governor Appeals ‘Big Oil’ Suit to State Supreme Court appeared first on Insurance Journal.
  
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• Illinois’ Joseph M. Wiedemann & Sons Joins Keystone Insurers Group

  12-01-2015 18:52
  
  Keystone Insurers Group announced its newest franchise partner in Illinois: Joseph M. Wiedemann & Sons, based in Arlington Heights. The firm, which has three offices in the Chicago-East Central Illinois area, is the eighteenth independent insurance agency in the state to …
  The article Illinois’ Joseph M. Wiedemann & Sons Joins Keystone Insurers Group appeared first on Insurance Journal.
  
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• Boating, Traffic Fatalities Down in Missouri in 2014

  12-01-2015 18:50
  
  Authorities say fewer people died on Missouri’s roads and waterways last year. The Missouri State Highway Patrol says preliminary statistics count 753 traffic fatalities in 2014, compared with 757 fatalities in 2013 and 1,257 in 2005. Boating fatalities dropped to …
  The article Boating, Traffic Fatalities Down in Missouri in 2014 appeared first on Insurance Journal.
  
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• Bucher Named Partner at Wisconsin-Based HNI Risk Services

  12-01-2015 18:49
  
  HNI, a non-traditional risk management firm based in New Berlin, Wis., announced that Matt Bucher has been named a partner in the firm. Bucher is a relationship manager at HNI. In his current role, Bucher drives sales of insurance, benefits …
  The article Bucher Named Partner at Wisconsin-Based HNI Risk Services appeared first on Insurance Journal.
  
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• Deiter Picked to Lead South Dakota Insurance Division

  12-01-2015 18:48
  
  South Dakota Labor and Regulation Secretary Marcia Hultman announced that Larry Deiter has been named the new director of the Division of Insurance. As director, Deiter will continue to be active at the national level in the National Association of …
  The article Deiter Picked to Lead South Dakota Insurance Division appeared first on Insurance Journal.
  
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• Explosion, Fire Cause Extensive Damage at Husky Energy’s Ohio Refinery

  12-01-2015 18:47
  
  A fire that started after an explosion on Jan. 10 at Husky Energy Inc.’s 155,000-barrel-per-day (bpd) crude oil refinery in Lima, Ohio, has caused extensive damage to a unit at the plant, a fire official said. No injuries were reported …
  The article Explosion, Fire Cause Extensive Damage at Husky Energy’s Ohio Refinery appeared first on Insurance Journal.
  
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• J. Mace Meeks Insurance Team Joins Insgroup in Houston

  12-01-2015 18:46
  
  J. Mace Meeks has moved his insurance practice to Houston-based privately held insurance agency, Insgroup Inc., effective Jan.1, 2015. With 25 years of experience, Meeks and his team of nine professional associates bring to Insgroup their commitment to the highest …
  The article J. Mace Meeks Insurance Team Joins Insgroup in Houston appeared first on Insurance Journal.
  
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• Higginbotham Adds Stick in Dallas as Sr. Loss Control Consultant

  12-01-2015 18:41
  
  Higginbotham has hired Steven Stick as senior loss control consultant in the independent insurance, risk management and financial services firm’s Dallas office. Higginbotham’s control department serves customers throughout the state. The department helps businesses identify their property and liability exposures …
  The article Higginbotham Adds Stick in Dallas as Sr. Loss Control Consultant appeared first on Insurance Journal.
  
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• Texas Sees Record $5B in Surplus Lines Premium in 2014

  12-01-2015 18:40
  
  For the first time, premium on policies reported to the Surplus Lines Stamping Office of Texas (SLSOT) totaled more than $5 billion last year. This record volume in 2014 was $336.5 million over 2013, representing an increase of 7 percent. …
  The article Texas Sees Record $5B in Surplus Lines Premium in 2014 appeared first on Insurance Journal.
  
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• Americans Protest Obamacare by Refusing Health Insurance Subsidies - U.S. News & World Report

  12-01-2015 18:39 via usnews.com
  
  U.S. News & World Report
  Americans Protest Obamacare by Refusing Health Insurance Subsidies
  U.S. News & World Report
  She wanted to keep the catastrophic health insurance plan she once had, which she says fit her needs. But under the Affordable Care Act, the government's health care reform law, the plan was discontinued because it did not comply with the law's ...
  Indiana urges high court to terminate Hoosiers health insurance subsidiesnwitimes.com
  Obamacare Report: Health premiums
  
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• Ironshore International acquires Dubai-based specialty underwriter

  12-01-2015 18:18
  Ironshore International Ltd. has acquired Dubai-based Visionary Underwriting Agency Ltd., Ironshore said Monday.
  
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• NexTier, ESS insurance firms merge - Pittsburgh Business Times (blog)

  12-01-2015 18:09 via bizjournals.com
  
  Pittsburgh Business Times (blog)
  NexTier, ESS insurance firms merge
  Pittsburgh Business Times (blog)
  The insurance subsidiary of NexTier Inc., Pittsburgh's 15th-largest bank, has combined with another western Pennsylvania insurance practice. ESS Insurance Group and NexTier Insurance Services LLC on Monday announced that they've merged and will ...
  
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• 10 hot new cars making their debuts this week at the North American International Auto Show in Detroit

  12-01-2015 18:09
  The last several years have been difficult for the auto industry. But don't tell anyone that at the annual North American International Auto Show in Detroit, that opened this week in the Motor City.
  
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• Actuarial, risk management professor Dan Anderson earns Bickley Founders Award

  12-01-2015 17:58
  Dan Anderson has been named the 2015 recipient of the John S. Bickley Founder’s Award, the International Insurance Society announced Monday.
  
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• Google is launching a new auto insurance site. Are you prepared?

  12-01-2015 17:44
  A Google employee recently became a licensed insurance agent, and the Internet giant is now licensed to do business in 25 states. How should independent agents prepare for this new competition?
  
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• Workers comp exclusive remedy doesn't apply in liability lawsuit against BP

  12-01-2015 17:34
  A liability lawsuit filed by hundreds of workers against a business unit of BP P.L.C.
  
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• Washington Seeks Two-Tier System for Driver’s License, IDs

  12-01-2015 17:24
  
  Washington state officials are seeking to redesign the state’s driver’s licenses and ID cards in order to comply with tougher federal requirements for proof of U.S. residency for government-sanctioned identification. Under bills expected to be introduced in both the House …
  The article Washington Seeks Two-Tier System for Driver’s License, IDs appeared first on Insurance Journal.
  
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• U.S. top court rejects new challenge to health care law

  12-01-2015 17:23
  (Reuters) — The U.S. Supreme Court on Monday declined to take up another broad challenge to President Barack Obama’s signature Patient Protection and Affordable Care Act.
  
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• 2014 was Record Year for Idaho Farmers, Ranchers: Report

  12-01-2015 17:20
  
  A new University of Idaho report says 2014 was another record year for Idaho farmers and ranchers. Researchers say sales of milk, livestock and crops reached nearly $10 billion, the fourth year in a row that cash receipts set records. …
  The article 2014 was Record Year for Idaho Farmers, Ranchers: Report appeared first on Insurance Journal.
  
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• Proposed XL Acquisition of Catlin Gets Review From Rating Agencies

  12-01-2015 17:04
  
  A.M. Best and Standard & Poor’s have weighed in with their comments about XL Group’s announced agreement to acquire Catlin Group Ltd. for $4.1 billion in cash and stock. A.M. Best placed the financial strength rating of XL Group and …
  The article Proposed XL Acquisition of Catlin Gets Review From Rating Agencies appeared first on Insurance Journal.
  
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• 5 priorities for the 2015 claims workforce

  12-01-2015 16:58
  Insurers should address critical current and pending gaps in the claims labor force.
  
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• Insurance Policies – Too Clever by Half - Insurance Journal

  12-01-2015 16:52 via insurancejournal.com
  
  Insurance Policies – Too Clever by Half
  Insurance Journal
  I recently bought one of the new airline travel insurance policies. I'm on planes all the time visiting agencies and speaking across the country, so this new product appealed greatly to me. Many of my flights suffer lengthy delays and cancellations ...
  
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• Obama to propose new laws to protect consumer data, privacy

  12-01-2015 16:51
  (Reuters) —President Barack Obama on Monday plans to discuss three new proposed laws aimed at protecting Americans and the trail of data they leave on smart phones, computers and other devices.
  
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• The 7 keys to refinancing a car loan

  12-01-2015 16:43
  Historically low mortgage refinance rates have created an opportunity for millions of Americans to save money on their homes. Here's what that means for car loans.
  
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• GM gets 141 more claims for faulty ignition switch compensation

  12-01-2015 16:28
  (Reuters) — General Motors Co. received 141 additional claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 2,710, according to the official administering the compensation program.
  
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• Insurance broker team joins Insgroup from Dean & Draper

  12-01-2015 16:26
  A former partner at Houston-based Dean & Draper Insurance Agency L.P., J. Mace Meeks, has joined insurance broker Insgroup Inc., bringing along annual premium of $35 million and nine associates, Insgroup announced.
  
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• PBGC to require employers to report pension risk transfer moves

  12-01-2015 16:12
  The Pension Benefit Guaranty Corp.
  
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• OFF BEAT: Will that cute puppy grow up insurable?

  12-01-2015 16:06
  Questions that prospective dog owners might ask themselves when considering which breed to choose include: Will it need to be walked often? How much does it eat? Will it fit in my handbag?
  
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• Customer relationships are more important than ever; here's proof

  12-01-2015 15:55
  Insurance brokers and agents have to move away from product silos and become consultants to business, according to the latest Ernst & Young Global Survey.
  
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• GM’s OnStar partners with Progressive to provide usage-based insurance

  12-01-2015 15:41
  Parternship with the insurer's Snapshot program driving assessments, UBI insurance discount rates to qualifying customers
  
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• Voice of the Consumer: Insurance scams happen on the road, too - Colorado Springs Gazette

  12-01-2015 15:34 via gazette.com
  
  Voice of the Consumer: Insurance scams happen on the road, too
  Colorado Springs Gazette
  Here's something to think about before you head out on the road. Leave plenty of room between you and the vehicle in front of you, no matter what the speed. That's because the driver may be an insurance scammer who purposely slams on the brakes, ...
  
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