Insurance news

• Arsonist gets 17-year prison sentence in insurance fraud scheme - NOLA.com

  04-03-2015 23:24 via nola.com
  
  NOLA.com
  Arsonist gets 17-year prison sentence in insurance fraud scheme
  NOLA.com
  Thomas on Wednesday (March 4) was sentenced to 17 years in prison on charges of conspiracy, arson, fraud and lying to federal investigators in connection with the pair of arsons fires he and three co-defendants set in 2007 and 2009. In the first arson, ...
  
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• Philadelphia Cab Owners Lose Bid to Ban Uber Services

  04-03-2015 22:18
  
  Philadelphia cab companies, threatened by the expansion of Uber Technologies Inc., lost a court bid to block the on-demand car service from operating in the city. Checker Cab Philadelphia Inc. and 44 other companies failed to show they would be …
  The article Philadelphia Cab Owners Lose Bid to Ban Uber Services appeared first on Insurance Journal.
  
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• Philadelphia Cab Owners Lose Bid to Ban Uber Service

  04-03-2015 22:18
  
  Philadelphia cab companies, threatened by the expansion of Uber Technologies Inc., lost a court bid to block the on-demand car service from operating in the city. Checker Cab Philadelphia Inc. and 44 other companies failed to show they would be …
  The article Philadelphia Cab Owners Lose Bid to Ban Uber Service appeared first on Insurance Journal.
  
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• Court overturns class certification in suit against Nextel, law firm

  04-03-2015 21:00
  
  A federal appeals court on Wednesday reversed a ruling that had established a class action in an discrimination case involving telecommunications firm Nextel Communications Inc.
  
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• International risk management complicated by transparency rules, growth

  04-03-2015 20:51
  
  NEW YORK — Building an international risk management program to protect both business and people involves conquering challenges ranging from increased worldwide regulatory enforcement to the increasingly global footprint of today’s...
  
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• Vanbridge expands offerings with two acquisitions

  04-03-2015 20:48
  
  Insurance broker Vanbridge L.L.C. has agreed to acquire Boston-based Alan Gray Inc. and Deerfield Beach, Florida-based Universal Insurance Services.
  
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• Know the ropes: 5 ways to reduce risk and 5 coverage considerations for boat owners

  04-03-2015 20:40
  As boat owners prepare to take their boat out of winter storage and launch it in the water for another season, insurance advisers have an opportunity to help their clients properly protect their prized possessions, keep their families safe and maximize their time on the water.
  
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• U.S. judge upholds insider trading conviction despite law change

  04-03-2015 20:21
  (Reuters) — A federal judge let stand the insider trading conviction of former Foundry Networks Inc. executive David Riley, rejecting his argument that a recent appeals court decision setting a higher bar for convictions warranted his acquittal.
  
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• XL auto insurance form targets commercial vehicles

  04-03-2015 20:09
  
  XL Group P.L.C. has launched a primary auto insurance form targeting trucking, public auto and commercial auto risks, the insurer announced Wednesday.
  
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• Willis exec says cyber aviation risks not addressed

  04-03-2015 20:03
  
  The aviation industry is behind the curve in its response to the threat posed by cyber criminality, whether it is in the form of criminals, terrorists, nation states or hackers, a Willis executive said during an aviation insurance conference in calling...
  
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• Lockton Names Linden as Sr. Claims Consultant in St. Louis

  04-03-2015 19:17
  
  Lockton’s St. Louis office named Jim Linden as assistant vice president-senior claims consultant in its mining risk management practice. The industry veteran will guide clients as their claims advisor and advocate. Linden will advise Lockton clients in developing robust and leading-edge claims management programs, …
  The article Lockton Names Linden as Sr. Claims Consultant in St. Louis appeared first on Insurance Journal.
  
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• UCPM Environmental Launches Program for Indoor Air Quality, Mold Liability

  04-03-2015 18:58
  
  UCPM, Inc., an environmental insurance provider, has partnered with Great American Insurance Co. to offer the IAQ Advantage package for indoor air quality and mold liability coverage. This online program targets real estate locations including apartments, condos, hotels, offices, and …
  The article UCPM Environmental Launches Program for Indoor Air Quality, Mold Liability appeared first on Insurance Journal.
  
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• Specialty Insurance Group Increases Casualty Capacity to $25M - Insurance Journal

  04-03-2015 18:58 via insurancejournal.com
  
  Business Wire (press release)
  Specialty Insurance Group Increases Casualty Capacity to $25M
  Insurance Journal
  Specialty Insurance Group (SIG) has increased its excess/umbrella coverage underwriting capacity to $25 million, an increase of $15 million. SIG provides specialty insurance programs in the sports, leisure and entertainment industries. According to SIG ...
  Specialty Insurance Group increases Casualty Capacity to $25 millionBusiness Wire (press release)
  
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• Connecticut Debates How to Regulate Rideshare Services

  04-03-2015 18:54
  
  Connecticut is the latest state to grapple with how to regulate Uber and other ride-hailing services being embraced by the public but angering the long-established taxi and livery industry. Taxi and livery drivers say they’re under assault by unfair competition …
  The article Connecticut Debates How to Regulate Rideshare Services appeared first on Insurance Journal.
  
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• Specialty Insurance Group Increases Casualty Capacity to $25M

  04-03-2015 18:53
  
  Specialty Insurance Group (SIG) has increased its excess/umbrella coverage underwriting capacity to $25 million, an increase of $15 million. SIG provides specialty insurance programs in the sports, leisure and entertainment industries. According to SIG, an affiliate of Everest Re Group, …
  The article Specialty Insurance Group Increases Casualty Capacity to $25M appeared first on Insurance Journal.
  
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• Oklahoma Commissioner Warns of Limitations in Earthquake Insurance

  04-03-2015 18:51
  
  Consumers may not know that earthquake insurance may contain provisions that exclude coverage for damage from quakes that are caused by human activities. With the dramatic increase in the number of earthquakes in Oklahoma — at least partly attributed to …
  The article Oklahoma Commissioner Warns of Limitations in Earthquake Insurance appeared first on Insurance Journal.
  
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• Oklahoma Commissioner Warns Insurers on Denial of Earthquake Claims

  04-03-2015 18:51
  
  With the dramatic increase in the number of earthquakes in Oklahoma — which some say are at least partly attributed to waste water injection wells related to the practice of hydraulic fracturing in oil and gas drilling — Oklahoma Insurance Commissioner …
  The article Oklahoma Commissioner Warns Insurers on Denial of Earthquake Claims appeared first on Insurance Journal.
  
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• The Demolition of Workers' Comp

  04-03-2015 18:46
  Over the past decade, states have slashed workers' compensation benefits, denying injured workers help when they need it most and shifting the costs of workplace accidents to taxpayers.
  
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• Travelers wrote most workers comp insurance in 2014

  04-03-2015 18:45
  
  Travelers Cos. Inc. was the largest workers compensation insurer in the nation last year, followed by Hartford Financial Services Group Inc. and American International Group Inc.
  
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• Redmer Takes Oath of Office as Maryland’s Insurance Commissioner

  04-03-2015 18:40
  
  The Maryland Insurance Administration (MIA) announced that Al Redmer, Jr. took the oath of office on Feb. 27 to serve as Maryland’s insurance commissioner. Redmer succeeds Therese M. Goldsmith, who stepped down from the post when Lawrence J. Hogan, Jr. …
  The article Redmer Takes Oath of Office as Maryland’s Insurance Commissioner appeared first on Insurance Journal.
  
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• AIG's net income down in 4Q14, insurance operations earnings flat - Market Realist

  04-03-2015 18:25 via marketrealist.com
  AIG's net income down in 4Q14, insurance operations earnings flat
  Market Realist
  In 4Q14, American International Group (AIG) reported a decline in net income. The drop, from $2.0 billion in 4Q13 to $655 million in 4Q14, was due to an after-tax charge of around $800 million for debt retirement activities. In per-share terms, the ...
  
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• West Virginia’s Coal Country Split as New Law Pits Owners, Workers: Commodities

  04-03-2015 18:19
  
  Mike Caputo, one of the top Democrats in the West Virginia legislature, began working in the state’s coal mines at age 19. It helped put his kids through school, he said, and helped him pay for his family home. Now …
  The article West Virginia’s Coal Country Split as New Law Pits Owners, Workers: Commodities appeared first on Insurance Journal.
  
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• Texas Insurance Agencies Higginbotham, Aycock & Fowler Merge

  04-03-2015 18:16
  
  Fort Worth, Texas-based Higginbotham and Aycock & Fowler, in Lubbock, Texas, have merged. Both are independent insurance firms providing property and liability insurance, risk management and employee benefit services to businesses and individuals. Higginbotham in recent years has expanded throughout Texas by …
  The article Texas Insurance Agencies Higginbotham, Aycock & Fowler Merge appeared first on Insurance Journal.
  
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• Walshas Named Director of Strategy, Operations at Accident Fund

  04-03-2015 18:12
  
  Lansing, Mich.-based Accident Fund Holdings Inc., a specialty writer of workers’ compensation insurance, named Mitchell Walshas director of strategy and operations. Walsh will lead the strategic efforts of the holding company and its brands to identify business solutions and execute …
  The article Walshas Named Director of Strategy, Operations at Accident Fund appeared first on Insurance Journal.
  
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• York Risk Services Hires Haring as Northeast Sales VP in Boston

  04-03-2015 18:12
  
  York Risk Services Group Inc., a Parsippany, New Jersey-based provider of claims management, managed care, risk management and specialized loss adjusting services, has hired Barry Haring as vice president of sales, Northeast, for York’s Programs division. He is based in …
  The article York Risk Services Hires Haring as Northeast Sales VP in Boston appeared first on Insurance Journal.
  
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• Arthur J. Gallagher & Co. Acquires NationAir Aviation Insurance

  04-03-2015 18:11
  
  Arthur J. Gallagher & Co. has acquired NationAir Aviation Insurance (NationAir) based in West Chicago, Ill. Terms of the transaction were not disclosed. Founded in 1978, NationAir is a retail insurance broker offering commercial property/casualty and risk management insurance services specifically …
  The article Arthur J. Gallagher & Co. Acquires NationAir Aviation Insurance appeared first on Insurance Journal.
  
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• California Sues Glass Company Over Hazardous Waste in Wine Bottles

  04-03-2015 18:11
  
  California’s Department of Toxic Substances Control says it is suing a glass company for violating recycling laws after it added hazardous waste dust to wine bottles made at its Modesto plant. The department said Monday Gallo Glass Co. failed to …
  The article California Sues Glass Company Over Hazardous Waste in Wine Bottles appeared first on Insurance Journal.
  
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• Family of Oregon Worker Killed in Blender Sues Meat Distributor

  04-03-2015 18:08
  
  The family of a cleaning worker who was killed when he fell into a running industrial meat blender at an Oregon plant is suing the meat distributor for $5 million. The Oregonian reported that the lawsuit filed last week in …
  The article Family of Oregon Worker Killed in Blender Sues Meat Distributor appeared first on Insurance Journal.
  
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• A.M. Best: State Farm Lloyds Ratings Unchanged After Texas Settlement

  04-03-2015 18:05
  
  A.M. Best says the financial strength rating of B++ (Good) and the issuer credit ratings of “bbb” of State Farm Lloyds in Dallas are unchanged following the announcement that it has reached a settlement agreement in Texas over homeowner rate overcharges. State Farm …
  The article A.M. Best: State Farm Lloyds Ratings Unchanged After Texas Settlement appeared first on Insurance Journal.
  
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• 10 charged in N.Y. with staging car accidents and falsifying reports to receive fraudulent insurance payments

  04-03-2015 18:05
  The staged accidents involved "jump-ins," in which a person claims to be in the vehicles to collect insurance benefits.
  
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• Chicago’s 110-Story Willis Tower Up for Sale

  04-03-2015 18:04
  
  Chicago’s Willis Tower, once the world’s tallest building and one of the city’s top tourist attractions, is up for sale. The owners, which include New York-based investors Joseph Chetrit and Joseph Moinian, have hired brokerage Eastdil Secured to market the …
  The article Chicago’s 110-Story Willis Tower Up for Sale appeared first on Insurance Journal.
  
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• Vanbridge to Acquire Alan Gray in Boston

  04-03-2015 18:04
  
  Vanbridge LLC, an insurance intermediary, capital advisory and insurance and reinsurance management firm based in New York, announced that it has agreed to acquire Alan Gray Inc., an audit, actuarial, underwriting, reinsurance and risk management firm in Boston. Terms of …
  The article Vanbridge to Acquire Alan Gray in Boston appeared first on Insurance Journal.
  
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• Health care law's defenders and foes rally before high-stakes arguments

  04-03-2015 17:59
  
  On a cold morning that threatened rain, hundreds of concerned citizens, politicians, health care providers and activists gathered on the steps of the U.S.
  
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• Surplus Line Association of California Names Brady Chair

  04-03-2015 17:58
  
  The members of the Surplus Line Association of California have named Denis Brady, president of Burns & Wilcox Brokerage in San Francisco, chair of the SLA Board of Directors. Brady’s election was finalized after the SLA tallied the final ballots …
  The article Surplus Line Association of California Names Brady Chair appeared first on Insurance Journal.
  
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• Judge Halts Google Investigation by Mississippi Attorney General, For Now

  04-03-2015 17:57
  
  The Mississippi attorney general’s attempt to investigate Google is on hold for at least four more months. U.S. District Judge Henry T. Wingate on Monday granted Google’s request for a preliminary injunction, preventing Attorney General Jim Hood from going through …
  The article Judge Halts Google Investigation by Mississippi Attorney General, For Now appeared first on Insurance Journal.
  
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• Asiana Settles Personal Injury Suits Over San Francisco Crash

  04-03-2015 17:50
  
  Asiana Airlines Inc. settled 72 personal injury claims in lawsuits filed over a July 2013 crash landing at San Francisco International Airport and is continuing to negotiate with other passengers. The airline announced the settlement Tuesday in a federal court …
  The article Asiana Settles Personal Injury Suits Over San Francisco Crash appeared first on Insurance Journal.
  
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• CBIZ Acquires Model Consulting in Pennsylvania

  04-03-2015 17:47
  
  CBIZ Inc. in Cleveland, Ohio, announced that it has acquired Model Consulting Inc. in Trevose, Pennsylvania. Founded in 1990, Model Consulting provides employee benefit consulting services to mid-sized companies in the Philadelphia and Southern New Jersey markets. Model, which will …
  The article CBIZ Acquires Model Consulting in Pennsylvania appeared first on Insurance Journal.
  
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• World Insurance Associates Acquires John Cecchettini Agency in New Jersey

  04-03-2015 17:39
  
  World Insurance Associates LLC, an independent insurance agency based in Tinton Falls, New Jersey, completed its acquisition of the John Cecchettini Agency of South Plainfield, New Jersey. Terms of the transaction were not disclosed. The John Cecchettini Agency is an …
  The article World Insurance Associates Acquires John Cecchettini Agency in New Jersey appeared first on Insurance Journal.
  
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• The Hartford Names Sprague to Lead Personal Lines

  04-03-2015 17:23
  
  The Hartford Financial Services Group has named Ray Sprague executive vice president, Personal Lines, effective immediately. Sprague will report to Doug Elliot, president of The Hartford. He is based in the company’s Hartford, Connecticut, headquarters. Most recently, Sprague was acting …
  The article The Hartford Names Sprague to Lead Personal Lines appeared first on Insurance Journal.
  
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• Asiana settles U.S. court claims in San Francisco jet crash

  04-03-2015 17:22
  (Reuters) — South Korea's Asiana Airlines Inc. has settled compensation claims filed in U.S. courts by 72 people who were passengers on a flight that crashed at San Francisco's main airport in 2013 without disclosing financial terms.
  
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• The importance of people skills

  04-03-2015 17:15
  Here are four guidelines for business owners—and those who want to be business owners—to apply their people skills and build better relationships with their employees.
  
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• Man charged with faking injuries, using Seahawks' names to get drugs

  04-03-2015 17:09
  
  A man in Washington state has been charged with faking work-related injuries and using the last names of Seattle Seahawks players to obtain opioids and other drugs, the Washington State Department of Labor and Industries said.
  
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• Bell Canada transfers $3.97 billion in pension liabilities to Sun Life in longevity swap

  04-03-2015 17:05
  
  Bell Canada Pension Plan, Verdun, Quebec, on Tuesday said it transferred CA$5 billion ($3.97 billion) in pension liabilities for current retirees to Sun Life Financial under a longevity insurance agreement.
  
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• The Rising: Part one

  04-03-2015 16:59
  Richie Clements, PIA's national president, recounts to NU-PC360 his story of surviving Katrina and the flood of claims in its aftermath.
  
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• Avoiding E&O: When an insurer goes broke, can policyholders blame the broker?

  04-03-2015 16:56
  Courts generally believe that an insurance broker is required to perform varying levels of investigation before placing coverage with a carrier, and failure to do so may render the broker liable to the insured for resulting losses due to the insolvency. Learn three best practices to avoid these types of...
  
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• Five Ohioans accused of fabricating car wrecks to collect insurance money - cleveland.com

  04-03-2015 16:40 via cleveland.com
  
  Five Ohioans accused of fabricating car wrecks to collect insurance money
  cleveland.com
  Five Ohioans have been indicted on charges they committed insurance fraud by claiming they were in car wrecks that didn't happen. The five Cincinnati-area residents were investigated by the Ohio Department of Insurance after they allegedly filed "a ...
  5 accused in alleged insurance fraud schemeCincinnati.com
  
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• Manufacturer gets tentative OK to fund benefits through captive

  04-03-2015 16:39
  
  Sealed Air Corp. has received tentative authorization from the U.S. Labor Department to fund several benefit risks through its Vermont captive insurance company.
  
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• Supreme Court hears arguments in new health reform challenge

  04-03-2015 16:32
  
  (Reuters) — The U.S.
  
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• Supreme Court divided over health care reform challenge

  04-03-2015 16:32
  
  (Reuters) — The U.S.
  
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• 5 big geopolitical risks for 2015

  04-03-2015 16:20
  Critical events of early 2015 will probably continue to take their toll as the year goes on, according to a new projection of geopolitical hotspots.
  
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