Insurance news

• Allied World emphasizes strong underwriting in fourth quarter

  05-02-2015 21:20
  
  Allied World Assurance Co. Holdings A.G. recorded a dip in net income but experienced improved underwriting results in the fourth quarter as the company continued to expand its offerings globally and capitalize on increasing rates in the U.S.
  
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• Scor places $150 million cat bond

  05-02-2015 21:13
  
  Paris-based reinsurer Scor S.E. has sponsored a $150 million catastrophe bond, the company said in a statement Thursday.
  
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• Charles Taylor buys Texas risk management services firm

  05-02-2015 21:05
  
  Charles Taylor Risk Consulting, a unit of London-based Charles Taylor P.L.C., on Thursday said it has acquired Richardson, Texas-based Cardinal Risk Management Alternatives Inc.
  
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• Global risks can affect captive insurer owners from afar

  05-02-2015 20:53
  
  BOCA RATON, Fla. — Captive owners should review the risks they cover in light of recent changes in the geopolitical, economic, environmental and societal risks, captive experts say.
  
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• EEOC receiving fewer mental health discrimination charges

  05-02-2015 20:33
  Federal employment regulators received and prosecuted substantially fewer workplace discrimination charges based on mental health conditions in 2014 than in the previous year.
  
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• 6 senators voting against Insure Tenn. have state insurance - WBIR-TV

  05-02-2015 20:18 via wbir.com
  
  WBIR-TV
  6 senators voting against Insure Tenn. have state insurance
  WBIR-TV
  NASHVILLE, Tenn. (AP) - Six of the seven senators who voted to kill Gov. Bill Haslam's proposal to extend health coverage to 280,000 low-income. Loading… Post to Facebook. 6 senators voting against Insure Tenn. have state insurance NASHVILLE, Tenn.
  UPDATE: Which TN lawmakers have state-sponsored insurance?WRCB-TV
  
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• Crop losses hit Everest Re profit

  05-02-2015 20:16
  
  Everest Re Group Ltd. reported fourth-quarter net income of $340.1 million, off 6.7% from the same quarter last year as the company took an underwriting loss for the year due to crop losses.
  
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• PartnerRe profit up despite competitive market

  05-02-2015 19:37
  
  PartnerRe Ltd. reported fourth-quarter net income of $262.7 million, an increase of 2.0% from the same period last year as the company stressed its gains despite competitive market conditions.
  
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• Killjoy? Towns banning sledding to reduce risk

  05-02-2015 19:31
  A childhood pastime meets today’s legal realities.
  
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• Anthem Health Insurance Hacked - ABC News

  05-02-2015 19:17 via abcnews.go.com
  
  Anthem Health Insurance Hacked
  ABC News
  {"id":28751201,"title":"Anthem Health Insurance Hacked","duration":"4:48","description":"80 million Anthem customer accounts could be at risk.","section":"Business","mediaType":"Default"}. Yahoo!-ABC News Network · Privacy Policy Your CA Privacy Rights ...
  
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• Insurers may upgrade systems to ‘bear-proof’ their bottom lines

  05-02-2015 19:17
  Many insurers will likely look to improve internal systems and become more cost-efficient to increase profitability in the face of looming threats to their income streams.
  
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• Florida Commissioner McCarty May Have Survived Scott’s Ouster Bid

  05-02-2015 18:55
  
  Florida’s insurance commissioner appears to have survived in his appointed post for now as a move by the state’s newly re-elected governor to oust him has failed to win support of the other state officials needed to make the change. …
  The article Florida Commissioner McCarty May Have Survived Scott’s Ouster Bid appeared first on Insurance Journal.
  
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• Ace launches transactional risk insurance

  05-02-2015 18:55
  
  Ace Ltd. has launched three transactional risk insurance products extending protection to buyers and sellers involved in mergers and acquisitions or other transactions.
  
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• Ferguson, Missouri, Receives $500K for Rebuilding

  05-02-2015 18:53
  
  St. Louis County, Mo., has allocated $500,000 to help Ferguson raze and rebuild property that was damaged in the aftermath of the fatal police shooting of Michael Brown. Residents and county officials want several blighted sites in Ferguson and surrounding …
  The article Ferguson, Missouri, Receives $500K for Rebuilding appeared first on Insurance Journal.
  
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• Tourism Group Promises $2.5M to Help Fund New Orleans Patrols

  05-02-2015 18:47
  
  New Orleans’ tourism industry will put up $2.5 million to help fund extra Louisiana State Police patrols in the city beyond the Mardi Gras season. State police and other law enforcement agencies traditionally help the city with beefed up Mardi …
  The article Tourism Group Promises $2.5M to Help Fund New Orleans Patrols appeared first on Insurance Journal.
  
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• Hackers hit health insurer Anthem in 'sophisticated' attack

  05-02-2015 18:44
  80 million records of major health insurer targeted by hackers.
  
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• Illinois-Based RLI Promotes 4 in Claim Department

  05-02-2015 18:40
  
  Specialty insurer, RLI Corp., based in Peoria, Ill., has promoted several leaders within the claim department. Don Driscoll, vice president, claim, has been promoted to vice president, chief claim officer. Driscoll will retain responsibility for management oversight of the claim …
  The article Illinois-Based RLI Promotes 4 in Claim Department appeared first on Insurance Journal.
  
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• Insurance Department Returns $24.5M to Ohio Consumers in 2014

  05-02-2015 18:38
  
  Lieutenant Governor and Insurance Director Mary Taylor announced the Ohio Department of Insurance through its consumer complaint process has helped Ohio consumers save or recover $24.5 million in 2014. Over the past four years the department has saved or recovered $84 million for Ohioans. Taylor said denial …
  The article Insurance Department Returns $24.5M to Ohio Consumers in 2014 appeared first on Insurance Journal.
  
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• Louisiana Roadway Deaths Down 29% Between 2007 and 2013

  05-02-2015 18:35
  
  The Louisiana Highway Safety Commission says traffic fatalities dropped by 29 percent between 2007 and 2013. Lt. Col. John LeBlanc, the commission’s executive director, said the state had 993 traffic fatalities in 2007, compared with 703 in 2013, a drop …
  The article Louisiana Roadway Deaths Down 29% Between 2007 and 2013 appeared first on Insurance Journal.
  
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• Texas Families Push for Statewide Ban on Texting While Driving

  05-02-2015 18:34
  
  Sitting behind pictures of loved ones killed in crashes, 15 Texas families tearfully pleaded with lawmakers to support a statewide texting-while-driving ban. “This is how I hold my baby now,” said Jeanne Brown, wiping away tears as she held a …
  The article Texas Families Push for Statewide Ban on Texting While Driving appeared first on Insurance Journal.
  
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• Jury: Toyota Must Pay $11M Fatal Minnesota Crash

  05-02-2015 18:32
  
  A federal jury in Minneapolis found that Toyota Motor Corp. must pay nearly $11 million to victims of a fatal 2006 crash after deciding that a design flaw in the 1996 Camry was partly to blame for the Minnesota wreck. …
  The article Jury: Toyota Must Pay $11M Fatal Minnesota Crash appeared first on Insurance Journal.
  
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• Largest employer pension plans see funding dive

  05-02-2015 18:32
  
  The funded status of very large pension plans sponsored by public companies fell sharply in January as tumbling interest rates boosted the value of plan liabilities, according to a Milliman Inc. survey released Thursday.
  
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• Oklahoma Orders Shut Down of Injection Well After Quakes

  05-02-2015 18:31
  
  A SandRidge Energy injection well has been ordered shut down because of numerous earthquakes near the well in north-central Oklahoma. The Oklahoma Corporation Commission issued the order after a 4.1 magnitude earthquake was recorded in the area. The well is …
  The article Oklahoma Orders Shut Down of Injection Well After Quakes appeared first on Insurance Journal.
  
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• Insurance giant Anthem hit by massive data breach - CNNMoney

  05-02-2015 18:23 via money.cnn.com
  
  CNNMoney
  Insurance giant Anthem hit by massive data breach
  CNNMoney
  Hackers have stolen information on tens of millions of Anthem Inc. customers, in a massive data breach that ranks among the largest in corporate history. The information stolen from the insurance giant includes names, birthdays, medical IDs, social ...
  Anthem health insurance hack exposes details of over 80 million peopleEngadget
  Millions could be victims in insurance hackKRQE News 13
  Health Insurance Provider Anthem Reports Ma
  
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• Illinois workers comp reforms on the horizon

  05-02-2015 18:20
  
  The Illinois Workers' Compensation Act could soon see reforms that would address the “shortcomings” of the 2011 amendments to the act, Illinois Gov. Bruce Rauner said during his State of the State address.
  
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• Better selling: 10 tips, from prospecting to closing

  05-02-2015 18:15
  NU spoke with three veteran producers to get 10 solid ideas on how to sell better, from finding new business, to presenting to clients, to saving deals about to go sideways.
  
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• Wyoming Lawmakers Consider Raising State Highway Speed Limits

  05-02-2015 18:08
  
  State senators have advanced a bill that would increase the speed limit to 70 mph on some Wyoming highways. The Wyoming Tribune Eagle reported the Transportation, Highways and Military Affairs committee advanced the bill this week by a 3-2 vote. The …
  The article Wyoming Lawmakers Consider Raising State Highway Speed Limits appeared first on Insurance Journal.
  
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• Lawsuit: Acupuncture Treatment Punctured California Woman’s Lung

  05-02-2015 18:04
  
  A San Diego, Calif. woman is suing a chiropractor she claims collapsed her lung during an unlicensed acupuncture treatment. Jamie Del Fierro says she was injured about a year ago during a treatment for tension headaches at the office of …
  The article Lawsuit: Acupuncture Treatment Punctured California Woman’s Lung appeared first on Insurance Journal.
  
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• Palomar Specialty in California Raises $17.5M in Surplus Capital

  05-02-2015 18:01
  
  Palomar Specialty Insurance Co. announced that it has successfully completed a $17.5 million surplus note issuance in a private placement to RenaissanceRe Ventures Ltd. and funds under management by a premier asset manager. Proceeds from the transaction will be used for general …
  The article Palomar Specialty in California Raises $17.5M in Surplus Capital appeared first on Insurance Journal.
  
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• Health insurance hack may have compromised WNY info - wivb.com

  05-02-2015 17:55 via wivb.com
  
  Health insurance hack may have compromised WNY info
  wivb.com
  BUFFALO, N.Y. (WIVB) – Blue Cross Blue Shield of western New York now says Thursday that some of their policy holders may have been affected by the recent hacking of a major insurance company. An early report from Blue Cross Blue Shield of western ...
  
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• Cigna profit beats Street on higher premium revenue

  05-02-2015 17:53
  
  (Reuters) — Health insurer Cigna Corp. reported a better-than-expected quarterly adjusted profit from operations, driven by increased premium revenue and improved management of medical costs.
  
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• Georgia House Committee Evaluating Medical Marijuana Bill

  05-02-2015 17:53
  
  Debate has opened on a bill that would legalize the use of cannabis oil for cancer, seizure disorders and other chronic illnesses in Georgia. A House committee discussed the bill on Tuesday. Sponsoring Rep. Allen Peake of Macon said the …
  The article Georgia House Committee Evaluating Medical Marijuana Bill appeared first on Insurance Journal.
  
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• North Carolina Agent Charged with Embezzlement

  05-02-2015 17:51
  
  Insurance agent Amneris Deleon, of Wilmington, N.C., was arrested and charged with one count each of embezzlement by an insurance agent and accessing a computer to defraud or obtain property. Department of Insurance criminal investigators accuse Deleon—the owner and operator …
  The article North Carolina Agent Charged with Embezzlement appeared first on Insurance Journal.
  
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• National Guard Armory Vehicles Worth Over $1M Destroyed by Fire in North Carolina

  05-02-2015 17:50
  
  Investigators in Buncombe County, N.C., are looking into a fire at the Armed Forces National Guard Armory that destroyed two armored vehicles valued at $1.7 million. The Asheville Citizen-Times reports the fire occurred shortly after 3 a.m. Tuesday at the …
  The article National Guard Armory Vehicles Worth Over $1M Destroyed by Fire in North Carolina appeared first on Insurance Journal.
  
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• Victim of State Trooper Shooting Receives $285K Settlement from South Carolina

  05-02-2015 17:49
  
  South Carolina’s insurance is paying $285,000 to an unarmed man who was shot during a traffic stop by a state trooper now facing a criminal charge. The state Insurance Reserve Fund says the settlement was reached in October, just a …
  The article Victim of State Trooper Shooting Receives $285K Settlement from South Carolina appeared first on Insurance Journal.
  
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• NFL, players sent back to bargaining table on concussion suit

  05-02-2015 17:42
  A judge's decision to send both sides in the contentious National Football League concussion lawsuit back to the bargaining table increases the risk that a July 2014 settlement may fall through.
  
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• Nigohosian Returns to Western Agents Group as VP of Regulatory Affairs

  05-02-2015 17:33
  
  Ken Nigohosian has returned to Western Insurance Agents Association as vice president of regulatory affairs. Nigohosian will work with the association’s legislative and regulatory affairs advisory committee. He had held an executive position with WIAA from 2006 to 2009. He …
  The article Nigohosian Returns to Western Agents Group as VP of Regulatory Affairs appeared first on Insurance Journal.
  
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• Property/casualty insurance rates flat in January

  05-02-2015 17:20
  
  Property/casualty insurance rates were flat in January, Dallas-based electronic insurance exchange MarketScout said Thursday.
  
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• Allstate to repurchase $3B of its stock as fourth-quarter profit beats estimates

  05-02-2015 17:13
  Allstate said it will repurchase as much as $3 billion of its stock as fourth-quarter profit exceeded analysts’ estimates.
  
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• Yoga teachers want health insurance reimbursement - BurlingtonFreePress.com

  05-02-2015 17:10 via burlingtonfreepress.com
  
  BurlingtonFreePress.com
  Yoga teachers want health insurance reimbursement
  BurlingtonFreePress.com
  Burlington yoga teacher Kathy McNames calls yoga "a healing modality." She can rattle off a range of health benefits associated with the practice: better breathing, relieved back pain or depression that's a bit easier to bear. McNames is so certain of ...
  
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• MiddleOak Exiting Personal Lines; Sells Business to Mapfre

  05-02-2015 17:00
  
  Spanish insurance giant MAPFRE SA has said it wants to expand and is eying acquisitions in both Europe and the U.S. Barely two months into 2015, it has pulled the trigger on one such deal in New England, reports CarrierManagement.com. …
  The article MiddleOak Exiting Personal Lines; Sells Business to Mapfre appeared first on Insurance Journal.
  
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• MiddleOak Exiting Personal Lines; Selling Business to Mapfre

  05-02-2015 17:00
  
  Spanish insurance giant MAPFRE SA has said it wants to expand and is eying acquisitions in both Europe and the U.S. Barely two months into 2015, it has pulled the trigger on one such deal in New England, reports CarrierManagement.com. …
  The article MiddleOak Exiting Personal Lines; Selling Business to Mapfre appeared first on Insurance Journal.
  
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• Insurance in China - The Economist

  05-02-2015 16:54 via economist.com
  
  The Economist
  Insurance in China
  The Economist
  CHINA'S insurance companies are boring. That is exactly what regulators want. Insurers are forced to fund themselves with plenty of capital and to restrict their investments to safe, low-yielding assets. So the rise of Anbang, an insurer that this week ...
  
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• Munich Re raises dividend after quarterly profit declined 42%

  05-02-2015 16:43
  Munich Re plans to raise its dividend even after fourth-quarter profit declined 42% on investments and goodwill impairments.
  
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• Munich Re provisional profit down in fourth quarter

  05-02-2015 16:37
  
  Munich Reinsurance Co. on Thursday announced a provisional fourth-quarter profit of about €700 million ($790.4 million), down 41.7% compared with the fourth quarter of 2013.
  
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• Insurer Beazley bets on the U.S. as Lloyd’s unit suffers rate decline

  05-02-2015 16:34
  Beazley is targeting 5% growth for 2015 as the specialty insurer and reinsurer looks to its U.S. unit to help offset falling prices for coverage at its Lloyd’s of London business.
  
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• Weather-Based Insurance Benefits Farmers - Voice of America

  05-02-2015 16:18 via voanews.com
  
  Weather-Based Insurance Benefits Farmers
  Voice of America
  A new study shows that weather-based insurance will help smallholder farmers to withstand the effects of climate change and market shocks. The study was launched recently in London where Nigerian officials also gathered to learn how they can implement ...
  
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• Health insurer customer and employee data hacked in ‘sophisticated’ attack

  05-02-2015 16:15
  Anthem said hackers obtained data on tens of millions of current and former customers and employees. The attack is on a similar scale to hacks of Target and Home Depot in terms of the number of people affected.
  
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• Beazley reports lower profit for 2014

  05-02-2015 16:14
  
  Beazley P.L.C. on Thursday reported pretax profit of $261.9 million for 2014, down 16.4% from 2013 in part because of lower reserve releases.
  
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• PBGC takes over oil refiner's pension plan

  05-02-2015 16:11
  
  The Pension Benefit Guaranty Corp. is taking over the underfunded pension plan of oil refiner Hovensa L.L.C., which is going out of business.
  
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