Insurance news

• N.Y. Assemblyman Proposes State-Run Flood Insurance

  05-03-2015 23:33
  
  A New York State Assemblyman says he will introduce a bill to create a state-run flood insurance program designed to serve New York homeowners in flood-prone communities. Assemblyman Phillip Goldfeder (D-Queens) announced the plan on March 1 to introduce new …
  The article N.Y. Assemblyman Proposes State-Run Flood Insurance appeared first on Insurance Journal.
  
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• Few employers against federal health premium subsidies

  05-03-2015 21:26
  Less than 30% of employers favor ending federal premium subsidies to lower-income individuals obtaining health care coverage in federal exchanges, according to a new survey.
  
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• Risk management strategies could benefit from big data

  05-03-2015 21:20
  NEW YORK — While insurers have used data analytics for years in order to more accurately underwrite property/casualty risks, their commercial policyholders are only just beginning to embrace “big data” as a risk management tool.
  
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• Scor's fourth-quarter results skewed by Generali US acquisition

  05-03-2015 21:18
  
  Scor S.E.'s net income for the fourth quarter of 2014 fell 45.3% over the same period in 2013 to €135 million ($151.2 million), the Paris-based reinsurer said Thursday.
  
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• FEMA agrees to review flood insurance cases - Asbury Park Press

  05-03-2015 20:59 via app.com
  
  Asbury Park Press
  FEMA agrees to review flood insurance cases
  Asbury Park Press
  Sandy victims who say they received paltry flood insurance settlements because of fraudulently altered engineering reports or poor practices by engineers or insurance companies will now have their claims reviewed by FEMA. The decision by the Federal ...
  NY Assemblyman Proposes State-Run Flood InsuranceInsurance Journal
  New state insurance assoc. is proposedQueens Chronicle
  Schumer, Gillibrand: FEMA Must Ensure
  
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• Property/casualty insurance rates up 1% in February

  05-03-2015 20:59
  
  Property/casualty insurance rates were up 1% on average in February, Dallas-based electronic insurance exchange MarketScout said Thursday.
  
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• Johnson & Johnson ordered to pay $5.7 million in California mesh trial

  05-03-2015 20:46
  
  (Reuters) — A California jury on Thursday ordered Johnson & Johnson’s Ethicon Inc. unit to pay $5.
  
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• Composite P&C rate up 1% while personal rates up 2% in February 2015

  05-03-2015 20:36
  Rates for all property and casualty lines across all states was up 1% in February after a flat January 2015.
  
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• Marsh, Ace clarify insurance contract terms for U.K. and Ireland clients

  05-03-2015 20:33
  
  Marsh Ltd. on Thursday announced an agreement with Ace European Group Ltd. to offer its U.K.- and Ireland-domiciled customers improved insurance policy terms and conditions.
  
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• Hedge Fund, Sandell Asset Management, Forms Bermuda Reinsurer

  05-03-2015 20:29
  
  Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, started a Bermuda-based reinsurer to support its investing strategy. Sandell Re will rely on the hedge fund to oversee the reinsurer’s assets, the New York-based firm said Thursday …
  The article Hedge Fund, Sandell Asset Management, Forms Bermuda Reinsurer appeared first on Insurance Journal.
  
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• Activist Hedge Fund, Sandell Asset Management, Forms Bermuda Reinsurer

  05-03-2015 20:29
  
  Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, started a Bermuda-based reinsurer to support its investing strategy. Sandell Re will rely on the hedge fund to oversee the reinsurer’s assets, the New York-based firm said Thursday …
  The article Activist Hedge Fund, Sandell Asset Management, Forms Bermuda Reinsurer appeared first on Insurance Journal.
  
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• No insurance payout for real estate broker in cyber hack loss

  05-03-2015 20:25
  
  A CNA Financial Corp.
  
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• SEC to award executive whistleblower up to $575,000

  05-03-2015 20:10
  
  The Securities and Exchange Commission said it plans to award a former company officer between $475,000 and $575,000 as a whistleblower for information he learned from another employee.
  
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• Plane skids off LaGuardia runway as storm snarls East Coast

  05-03-2015 19:22
  A Delta Air Lines plane skidded off a runway at LaGuardia Airport on Thursday, closing the airport as ice and windblown snow shut down businesses and government offices from New York to Washington.
  
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• Hospitals optimistic they'll dodge bullet with health subsidy ruling

  05-03-2015 19:14
  
  (Reuters) — U.S. hospital executives said on Wednesday they were optimistic they will avoid the toughest consequences of a U.S.
  
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• White House mulled, then balked at curbing explosive gas on oil trains

  05-03-2015 19:01
  
  (Reuters) — The Obama administration weighed national standards to control explosive gas in oil trains last year but rejected the move, deciding instead to leave new rules to North Dakota alone.
  
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• Failure to Remove Snow From Sidewalks Results in Fines

  05-03-2015 19:00
  
  New York City has issued more than 10,000 tickets this winter to property owners for failing to clear snow and ice from sidewalks. Under city law, businesses, homeowners and other property owners have four hours from the time the snow …
  The article Failure to Remove Snow From Sidewalks Results in Fines appeared first on Insurance Journal.
  
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• Section of Roof at Vacant Boston Expo Center Collapses

  05-03-2015 18:59
  
  Authorities say no one was injured when a portion of the roof of Boston’s vacant Bayside Expo Center collapsed. The Boston Fire Department responded to the building at about 7:30 a.m. Wednesday. The roof section that collapsed was about 100 …
  The article Section of Roof at Vacant Boston Expo Center Collapses appeared first on Insurance Journal.
  
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• PAM Transport settles EEOC disability bias suit

  05-03-2015 18:58
  
  An Arkansas trucking firm has been ordered to pay $477,399 in a U.S. Equal Employment Opportunity Commission disability discrimination lawsuit in which it was charged with subjecting its truck-driver workforce to overly broad medical inquires.
  
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• Senator: FEMA Will Re-examine More Claims, Ban Firms That Acted in Bad Faith

  05-03-2015 18:57
  
  A top Federal Emergency Management Agency (FEMA) official has committed to taking aggressive steps to make sure victims of Superstorm Sandy get “every penny to which they’re entitled” from their national flood insurance claims, said U.S. Senator Robert Menendez (D-NJ). …
  The article Senator: FEMA Will Re-examine More Claims, Ban Firms That Acted in Bad Faith appeared first on Insurance Journal.
  
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• Senator: FEMA Will Re-examine More Cases, Reform NFIP Claims Process

  05-03-2015 18:57
  
  A top Federal Emergency Management Agency (FEMA) official has committed to taking aggressive steps to make sure victims of Superstorm Sandy get “every penny to which they’re entitled” from their national flood insurance claims, said U.S. Senator Robert Menendez (D-NJ). …
  The article Senator: FEMA Will Re-examine More Cases, Reform NFIP Claims Process appeared first on Insurance Journal.
  
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• XL Launches Primary Auto Product Line, Taps Miller to Lead

  05-03-2015 18:57
  
  XL Group’s excess & surplus (E&S) insurance is adding primary auto capabilities to its product line and has added Andrew Miller as underwriting manager to lead this business. According to John Goodloe, president of XL Group’s E&S business, the company …
  The article XL Launches Primary Auto Product Line, Taps Miller to Lead appeared first on Insurance Journal.
  
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• Fast-evolving marijuana laws vex employers

  05-03-2015 18:43
  
  NEW YORK — As more states embrace the legalization of marijuana for medicinal and/or recreational use, employers’ efforts to enforce workplace anti-drug policies are becoming more complex, according to a panel of experts.
  
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• Anthem Breach Hits Louisiana’s Office of Group Benefits

  05-03-2015 18:38
  
  A state office that provides insurance plans for Louisiana’s state employees says personal information of some of its members was obtained by hackers who breached the online security of Anthem Inc. The Office of Group Benefits said about 2,700 of …
  The article Anthem Breach Hits Louisiana’s Office of Group Benefits appeared first on Insurance Journal.
  
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• Lake Charles, Louisiana to Keep Class 2 Fire Protection Rating

  05-03-2015 18:36
  
  The Property Insurance Association of Louisiana says Lake Charles will maintain its Class 2 fire protection rating for the next few years. By keeping the Class 2 rating, which the city has maintained since the 1980s, residents won’t see a …
  The article Lake Charles, Louisiana to Keep Class 2 Fire Protection Rating appeared first on Insurance Journal.
  
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• Insurance Department: Missouri FAIR Plan Now Offers Sinkhole Coverage

  05-03-2015 18:32
  
  Missourians can now purchase sinkhole coverage through the FAIR Plan, the Missouri Department of Insurance reported. The plan started issuing the standalone Sinkhole Loss policy earlier this year to supplement an applicant’s primary coverage. Sinkholes are depressions or holes in …
  The article Insurance Department: Missouri FAIR Plan Now Offers Sinkhole Coverage appeared first on Insurance Journal.
  
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• Settlement Reached in Deadly California Lexus Crash

  05-03-2015 18:28
  
  Parents of a family that died when their Lexus sped up and crashed on a San Diego County, Calif. freeway have settled a lawsuit against the former car dealer. California Highway Patrol Officer Mark Saylor, his wife, brother-in-law and 13-year-old …
  The article Settlement Reached in Deadly California Lexus Crash appeared first on Insurance Journal.
  
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• 5 Members of Alleged Ohio Auto Insurance Fraud Ring Indicted

  05-03-2015 18:27
  
  Five Cincinnati-area residents have been indicted on multiple counts of alleged insurance fraud for filing a significant number of false insurance claims in 2014 totaling approximately $85,000, the Ohio Department of Insurance announced. The department alleges that as part of …
  The article 5 Members of Alleged Ohio Auto Insurance Fraud Ring Indicted appeared first on Insurance Journal.
  
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• Lawsuit Says Oregon Woman’s Brain Tumor Sample For Biopsy Lost

  05-03-2015 18:27
  
  An Oregon woman has sued a Portland hospital for $900,000, alleging that a brain tumor sample set aside for biopsy has been lost, leaving her uncertain about whether the tumor was cancerous. Catherine Stewart is seeking $100,000 in economic damages …
  The article Lawsuit Says Oregon Woman’s Brain Tumor Sample For Biopsy Lost appeared first on Insurance Journal.
  
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• Idaho Lawmakers Take Up Guidelines For Driverless Cars

  05-03-2015 18:23
  
  Idaho citizens could soon be sharing the road with driverless cars. A Senate panel considered a bill earlier this week that would allow companies to test self-driving cars on Idaho highways. Senate Transportation Committee Chairman Sen. Bert Brackett says the plan’s …
  The article Idaho Lawmakers Take Up Guidelines For Driverless Cars appeared first on Insurance Journal.
  
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• San Antonio Fire Crew Unaware Senior Facility Was a High-Rise

  05-03-2015 18:16
  
  An analysis by the San Antonio Fire Department says the arrival of specialized resources to a December fire that killed five residents of a senior living facility near San Antonio, Texas, was delayed because responders were unaware it was a …
  The article San Antonio Fire Crew Unaware Senior Facility Was a High-Rise appeared first on Insurance Journal.
  
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• Providers tap capitated health plans and workers comp for payment

  05-03-2015 17:51
  
  BOSTON — States with a significant number of workers in capitated health plans are likely to see medical costs shifting from group health plans to workers compensation insurance, according to preliminary data from the Workers Compensation Research...
  
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• Banking cyber thieves may be too slick for their own good

  05-03-2015 17:20
  (Reuters) — Fraudsters are slick and smooth when they request new bank accounts or credit cards — a characteristic an Israeli company wants to use against them.
  
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• Mobile workforce puts new twist on employer risks

  05-03-2015 17:18
  
  NEW YORK — The growth of the mobile workforce is creating new variations on old exposures for employers, according to participants in a panel discussion of the virtual workplace Thursday at the Business Insurance Risk Management Summit in...
  
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• Modest group health care increases predicted for 2015

  05-03-2015 17:11
  
  Employers are expecting only modest increases in their group health care plan costs and are planning to take several steps to keep down future increases, according to a new survey released Thursday.
  
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• Pentagon to focus more on hack-proofing weapons

  05-03-2015 17:06
  
  (Reuters) — Cyber attacks on U.S. weapons programs and manufacturers are a “pervasive” problem that requires greater attention, the top U.S.
  
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• Analyses, court case question equity of workers comp system

  05-03-2015 16:55
  
  Independent government and private-sector research and upcoming oral arguments in a highly anticipated case are raising questions about the equity of the U.S. workers compensation system and the long-term viability of exclusive remedy provisions.
  
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• Data breach hits health food chain Natural Grocers

  05-03-2015 16:31
  
  A health food chain has reported that payment card numbers may have been compromised in a cyber data breach.
  
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• Liberty Mutual reduces its comp exposures

  05-03-2015 16:10
  
  Liberty Mutual Holding Co. followed through on its announced plan to reduce its workers compensation exposures and reported lower comp premiums for 2014, which one expert said raises the question of whether the insurer plans to leave the market.
  
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• Interest rates, equity gains give pension plans big February boost

  05-03-2015 15:58
  
  Sharply higher interest rates, which decreased the value of plan liabilities, and gains in the equity markets caused pension plan funding levels among large employers to rise sharply in February, according to a report released Wednesday by Mercer L.L.C.
  
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• 15 most populous countries at risk for river floods

  05-03-2015 15:54
  Gross domestic product at risk of flooding in India, the world’s second-most populous nation, may surge 10-fold by 2030 as cities expand and climate challenges worsen.
  
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• Here's how Millennials are changing the renters insurance market

  05-03-2015 15:45
  Millennials want to trust that their belongings are protected, but they have some specific demands.
  
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• Weather mythbusters: 7 weather myths that you should stop believing

  05-03-2015 15:42
  Some myths are simply a product of old science and observation, such as standing in a doorway during an earthquake. Others are simply old wives' tales.
  
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• Swiss Court Throws out Pakistan Kidnapping Insurance Claim - ABC News

  05-03-2015 15:31 via abcnews.go.com
  Swiss Court Throws out Pakistan Kidnapping Insurance Claim
  ABC News
  Switzerland's highest court has thrown out a man's claim to an insurance payout for post-traumatic stress suffered after he was kidnapped by the Taliban while driving through Pakistan. The police officer and his partner were on their way home from a ...
  
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• Man Accused of Buying Auto Insurance From Scene of Car Wreck - ABC News

  05-03-2015 15:20 via abcnews.go.com
  Man Accused of Buying Auto Insurance From Scene of Car Wreck
  ABC News
  Authorities say a Pennsylvania man called an insurance company from a crash scene to buy auto coverage and later claimed his wreck happened after he got the policy. The Altoona Mirror ( http://bit.ly/1GYSn18 ) reports that the insurance fraud charges ...
  Share “AG: Man lied about buying auto insurance...”NewsOK.com
  
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• Health insurers bank on fix if premium subsidies thrown out

  05-03-2015 15:13
  Health insurers are counting on policymakers to craft a workaround to keep federal health premium subsidies flowing to low- and moderate-income Americans if the U.S. Supreme Court rules against the Obama administration.
  
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• Ga. eyes insurance overhaul - The Augusta Chronicle

  05-03-2015 15:10 via chronicle.augusta.com
  Ga. eyes insurance overhaul
  The Augusta Chronicle
  ATLANTA -- Georgia lawmakers are considering insurance bills that would create major changes in health plan networks in the state. The Senate Insurance and Labor Committee first heard testimony on Senate Bill 143, which would require the state ...
  
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• Guidewire System for Claims Transformation Broadly Deployed by CSAA ... - Insurance News Net

  05-03-2015 14:59 via insurancenewsnet.com
  Guidewire System for Claims Transformation Broadly Deployed by CSAA ...
  Insurance News Net
  FOSTER CITY, Calif. --(BUSINESS WIRE)-- Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to property/casualty insurers, today announced that CSAA Insurance Group , a AAA Insurer , broadly deployed Guidewire's ClaimCenter® to ...
  
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• This clause can keep you from accessing homeowners insurance claim money - MarketWatch

  05-03-2015 13:42 via marketwatch.com
  
  MarketWatch
  This clause can keep you from accessing homeowners insurance claim money
  MarketWatch
  A house in the Rockaway section of Queens undergoes repairs on Oct. 24, 2013, one year after Hurricane Sandy. A pipe bursts in your basement and causes $40,000 worth of damage, in addition to destroying treasured photos and heirlooms. Or a tree comes ...
  
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• Sweden's Entropics Asset Management starts deploying capital into cat bonds

  05-03-2015 12:00
  Sweden-based Entropics Asset Management AB is looking to build its catastrophe bonds portfolio and has started deploying its raised capital into cat bonds, Artemis.bm reported.
  
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