Insurance news

• Best Off Beat stories from February

  09-03-2015 23:46
  
  This month: a Jay-Z song lands Live Nation in hot water, Tiger Woods gets hit with a slip-and-fall lawsuit, Lance Armstrong's lies earn him a $10 million penalty, and more.
  
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• Augusta lawmaker's life insurance bill moves forward - Kennebec Journal & Morning Sentinel

  09-03-2015 22:46 via centralmaine.com
  
  Kennebec Journal & Morning Sentinel
  Augusta lawmaker's life insurance bill moves forward
  Kennebec Journal & Morning Sentinel
  Helicopters collide during the filming of a reality show. Gold medal swimmer Camille Muffat, boxer Alexis Vastine and sailor Florence Arthaud are among the dead. More Headlines. Maple sugaring season set to flow this week · Winslow to mull ordinance to ...
  
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• Arbella Insurance Foundation Partners With Heritage Museums & Gardens

  09-03-2015 22:31
  
  The Arbella Insurance Foundation will be the leading sponsor for Massachusetts-based Heritage Museums & Gardens’ 2015 season, which begins April 18, according to an announcement by the Arbella Insurance Group in Quincy, Massachusetts. The sponsorship will support programs, consumer education …
  The article Arbella Insurance Foundation Partners With Heritage Museums & Gardens appeared first on Insurance Journal.
  
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• Captive insurers help fill niche needs

  09-03-2015 22:16
  ORLANDO, Florida — Captive insurers can offer companies more options when it comes to building an insurance program, from allowing greater control over coverages to addressing an issue neglected by the marketplace, a panel of industry executives...
  
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• CEA Kicks off Earthquake Insurance Selling Program for Agents - Insurance Journal

  09-03-2015 21:57 via insurancejournal.com
  
  Insurance Journal
  CEA Kicks off Earthquake Insurance Selling Program for Agents
  Insurance Journal
  The California Earthquake Authority has again kicked off its annual “Marketing Value Program,” in which the quasi-private earthquake insurer encourages agents to sign up to receive direct mail marketing pre-printed with agents' names to send to ...
  
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• Citizens ends 1% insurance surcharge - Orlando Sentinel

  09-03-2015 21:51 via orlandosentinel.com
  
  The News-Press
  Citizens ends 1% insurance surcharge
  Orlando Sentinel
  TALLAHASSEE — The Florida Office of Insurance Regulation on Monday formally approved an early end for a Citizens Property Insurance Corp. surcharge imposed on most homeowners' policies because of damages from the last of the 2005 hurricanes.
  Citizens Insurance Given Okay To End Surcharge EarlyCBS Local
  
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• Ex-insurance agent sentenced for embezzlement - WOODTV.com

  09-03-2015 21:47 via woodtv.com
  
  WOODTV.com
  Ex-insurance agent sentenced for embezzlement
  WOODTV.com
  BATTLE CREEK (WOOD) — A Battle Creek man was sentenced between five and 20 years in prison on Monday for embezzling money from his former employer. John Page was an insurance agent for the Worgess Insurance Agency in Battle Creek.
  
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• CEA Kicks off Earthquake Insurance Selling Program for Agents

  09-03-2015 21:44
  
  The California Earthquake Authority has again kicked off its annual “Marketing Value Program,” in which the quasi-private earthquake insurer encourages agents to sign up to receive direct mail marketing pre-printed with agents’ names to send to potential clients. This is …
  The article CEA Kicks off Earthquake Insurance Selling Program for Agents appeared first on Insurance Journal.
  
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• Tax court victories boost captives

  09-03-2015 21:26
  
  The owners of captive insurers have scored major victories in cases against the IRS, but they still face uncertainties on several fronts.
  
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• Arcane case may redefine business risk

  09-03-2015 21:26
  
  A current U.S. Tax Court dispute involving a little-discussed line of coverage — residual value insurance — could have broader insurance market implications.
  
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• Smaller companies try captives

  09-03-2015 21:26
  
  A growing number of midsize companies are forming captives, providing vigorous growth for the captive market.
  
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• United Kingdom ahead of United States in transferring pension risks

  09-03-2015 21:25
  
  New risks being taken on by captives include pension longevity as well as catastrophes.
  
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• China's captive insurance industry posied to grow

  09-03-2015 21:25
  
  Captive insurers are gaining popularity in China as well as other parts of Asia.
  
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• Utah, Delaware lead U.S. in new formations

  09-03-2015 21:25
  
  Captive formations have been proceeding at a rapid clip in Utah, Delaware, North Carolina, Tennessee and Oklahoma — the five U.S. domiciles with the fastest captive growth last year.
  
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• Vermont still No. 1 in U.S., but competition increases

  09-03-2015 21:25
  
  While some U.S. domiciles are adding captives at a faster clip than Vermont, the Green Mountain State remains No. 1 in several key areas.
  
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• Standard market limits risk retention groups

  09-03-2015 21:25
  
  Risk retention groups continue to provide an effective way for employers to band together to form group captives even though their ranks have thinned in recent years.
  
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• Refusing driving accommodations bars employee's ADA lawsuit

  09-03-2015 21:15
  An employee who refused to agree to a reasonable accommodation offered him by his employer to compensate for his inability to drive cannot proceed with his disability discrimination charge, a federal appeals court said Monday in upholding a lower-court...
  
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• Worker denied comp after crash on dead-end detour

  09-03-2015 20:48
  
  A South Dakota worker who crashed his vehicle while taking a dead-end detour on the road to his office can’t receive workers compensation benefits for his injuries because the brief side trip took him outside the scope of his employment, the South...
  
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• Lancaster resident arrested in statewide insurance fraud sweep - PennLive.com

  09-03-2015 20:43 via pennlive.com
  
  FOX43.com
  Lancaster resident arrested in statewide insurance fraud sweep
  PennLive.com
  A Lancaster resident was among 17 individuals across the state recently arrested for a variety of unrelated insurance fraud offenses. Attorney General Kathleen Kane on Monday said the arrests sweep were the result of investigations by the Insurance ...
  Lancaster County woman among 17 insurance fraud arrestsFOX43.com
  Attorney General Kane Announces 17 Insurance Fraud ArrestsPA home page
  Darby woman among 17 cha
  
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• Congressional Budget Office cuts estimates for health reform costs

  09-03-2015 20:42
  
  (Reuters) — U.S.
  
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• Ex-Aon Benfield director to lead Capsicum Re's Bermuda operations

  09-03-2015 20:23
  
  Former Aon Benfield Bermuda managing director Neville Ching will lead the Bermuda operations of reinsurance brokerage Capsicum Reinsurance Brokers L.L.P.
  
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• Credit unions battle their regulator over cyber security

  09-03-2015 20:09
  (Reuters) — A common question asked of people in positions of power is what keeps them up at night.
  
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• Supreme Court revives Notre Dame's contraception objections

  09-03-2015 20:04
  
  (Reuters) — The U.S.
  
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• Trial lawyers vs. truckers: a feud over trucks, crashes, insurance and devastation - cleveland.com

  09-03-2015 20:01 via cleveland.com
  
  cleveland.com
  Trial lawyers vs. truckers: a feud over trucks, crashes, insurance and devastation
  cleveland.com
  The scene of a multiple-vehicle accident on Interstate 44 in Oklahoma, where eight people were killed in 2009 when a tractor-trailer slammed into a line of cars stopped in traffic. (Gary Crow/Associated Press). Print · Stephen Koff, Northeast Ohio ...
  
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• Driver accused of buying auto insurance after the accident - Columbus Dispatch (blog)

  09-03-2015 19:51 via dispatch.com
  
  Driver accused of buying auto insurance after the accident
  Columbus Dispatch (blog)
  Buying auto insurance is something you should do before you have an accident, not after. A 33-year-old Pennsylvania man is charged with insurance fraud in Pennsylvania where he is accused of buying coverage from local insurer SafeAuto after he had an ...
  Man accused of buying auto insurance from scene of car wreckWKRC TV Cincinnati
  
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• Amtrak train collides with truck in North Carolina

  09-03-2015 19:27
  An Amtrak train collided with a tractor-trailer and derailed on Monday in Halifax, North Carolina.
  
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• Florida OIR approves removal of up to 48,331 policies from Citizens

  09-03-2015 19:19
  As part of its ongoing effort to reduce the number of policies in its state-created Citizen Property Insurance, the Florida's OIR approved the removal of up to 47,331 policies.
  
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• Algonquin, West Dundee insurance agents fined by Illinois Dept. of Insurance - Northwest Herald

  09-03-2015 18:29 via nwherald.com
  
  Algonquin, West Dundee insurance agents fined by Illinois Dept. of Insurance
  Northwest Herald
  The Illinois Department of Insurance has issued disciplinary actions against two local individuals in two-insurance related indiscretions. Related Links. Algonquin, West Dundee insurance agents fined by Illinois Dept. of Insurance · Rudin: 'No ...
  Disciplinary actions taken against three local insurance agentsChicago Tribune
  
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• Insurance exec gets 18 months for kickback scheme - New York Post

  09-03-2015 18:26 via nypost.com
  
  New York Post
  Insurance exec gets 18 months for kickback scheme
  New York Post
  An insurance-company executive was sentenced to 18 months in prison on Monday for conspiring with the head of a leading Jewish charity to fleece it of nearly $9 million. Century Coverage owner Joseph Ross, 59, previously pleaded guilty in Manhattan ...
  Met Council insurance broker sentenced to 18 months plus restitutionJewish Telegraphic Agency
  
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• Investment returns, higher interest rates boost pension funding

  09-03-2015 18:20
  
  The funded status of very large pension plans sponsored by public companies rose sharply in February due to investment gains and rising interest rates that lowered the value of plan liabilities, according to a Milliman Inc. survey released Monday.
  
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• Students awarded trips to RIMS conference

  09-03-2015 18:02
  
  The Risk & Insurance Management Society Inc. has awarded 30 undergraduate and graduate risk management students with an Anita Benedetti Student Involvement Program grant, the society announced Monday.
  
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• Risk management students will attend RIMS annual conference

  09-03-2015 18:02
  The Risk & Insurance Management Society Inc. has awarded 30 undergraduate and graduate risk management students with an Anita Benedetti Student Involvement Program grant, the society announced Monday.
  
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• Texas Lawmaker Files Insurance Department Transparency Bill

  09-03-2015 17:56
  
  A bill filed by state Rep. Todd Hunter, R-Corpus Christi, would require the Texas Department of Insurance to post on its website information regarding insurance rates of every residential property and personal auto insurer in the state, including details and …
  The article Texas Lawmaker Files Insurance Department Transparency Bill appeared first on Insurance Journal.
  
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• View on Private Sector: Insurance for the next Ebola - SciDev.Net (blog)

  09-03-2015 17:53 via scidev.net
  
  View on Private Sector: Insurance for the next Ebola
  SciDev.Net (blog)
  As a result of the Ebola crisis in West Africa, World Bank president Jim Yong Kim has proposed an insurance policy to cover regional and worldwide disease outbreaks. According to the BBC, he said this could work like fire insurance: “The more you are ...
  
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• Louisiana’s LCTA Workers’ Comp Adds D’Angelo to Board

  09-03-2015 17:40
  
  Louisiana-based workers’ compensation insurer, LCTA Workers’ Comp (LCTA), has added John D’Angelo to its board of trustees. D’Angelo founded Investar Bank in Baton Rouge, La., in 2005, and grew the full-service community bank to eleven locations and $800 million in …
  The article Louisiana’s LCTA Workers’ Comp Adds D’Angelo to Board appeared first on Insurance Journal.
  
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• NTSB Has Plenty of Questions to Answer in NYC Runway Slide

  09-03-2015 17:39
  
  As the National Transportation Safety Board begins its investigation into a Delta jetliner that slid off a runway while landing during a snowstorm at LaGuardia Airport, there is no shortage of questions to pursue: How big a factor was the …
  The article NTSB Has Plenty of Questions to Answer in NYC Runway Slide appeared first on Insurance Journal.
  
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• Insurance Language – Clear as Mud - Insurance Journal

  09-03-2015 17:34 via insurancejournal.com
  
  Insurance Language – Clear as Mud
  Insurance Journal
  On occasion I find myself in a position having to explain insurance language to non-insurance people, particularly attorneys and CPAs. Their responses range from vacant stares to confusion. For example, think about explaining the term “broker” to a ...
  
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• Epic Snows Brought Economic Woes to New England

  09-03-2015 17:33
  
  Ignore anyone who tells you snow is free. Every workday lost during New England’s winter has meant millions of dollars taken out of the regional economy. IHS Global Insight, an economic analysis firm, estimates Massachusetts alone suffered roughly $1 billion …
  The article Epic Snows Brought Economic Woes to New England appeared first on Insurance Journal.
  
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• Index-Insurance: Protecting Women Farmers Against Weather Risk - World Bank Group

  09-03-2015 17:27 via worldbank.org
  Index-Insurance: Protecting Women Farmers Against Weather Risk
  World Bank Group
  If women farmers worldwide had the same access to resources as their male counterparts, their yields could increase by up to 30%, which could result in up to 150 million fewer people going hungry. RELATED. WORLD BANK. Story: Leveling the Field: ...
  
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• Oregon School District Sued by Women Over Alleged 1969 Abuse

  09-03-2015 17:23
  
  Three women who say they were sexually abused by a sixth-grade teacher 45 years ago have sued the Oregon school district that employed him. The federal lawsuit also lists the teacher as a defendant. The complaint says the man lives …
  The article Oregon School District Sued by Women Over Alleged 1969 Abuse appeared first on Insurance Journal.
  
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• Connecticut Gov.’s Budget Shifts $9M in Public Health Expenses to Insurers

  09-03-2015 17:22
  
  Some of Connecticut’s insurers would pick up the tab for breast and cervical cancer detection, AIDS services and venereal disease control under Gov. Dannel P. Malloy’s proposed two-year, approximately $40 billion state budget. The Democrat’s plan, which is being considered …
  The article Connecticut Gov.’s Budget Shifts $9M in Public Health Expenses to Insurers appeared first on Insurance Journal.
  
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• Conn. Gov.’s Budget Shifts $9M in Public Health Expenses to Insurers

  09-03-2015 17:22
  
  Some of Connecticut’s insurers would pick up the tab for breast and cervical cancer detection, AIDS services and venereal disease control under Gov. Dannel P. Malloy’s proposed two-year, approximately $40 billion state budget. The Democrat’s plan, which is being considered …
  The article Conn. Gov.’s Budget Shifts $9M in Public Health Expenses to Insurers appeared first on Insurance Journal.
  
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• Suit Filed Against Jewish Cemetery in California For Throwing Out Remains

  09-03-2015 17:20
  
  One of the nation’s largest Jewish cemeteries and the resting place of notables including Groucho Marx has been sued for allegedly breaking vaults to make room for more graves and throwing out human bones in a pile. More than 60 …
  The article Suit Filed Against Jewish Cemetery in California For Throwing Out Remains appeared first on Insurance Journal.
  
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• Safety Concerns Block Effort to Raise Interstate Speed Limit in Iowa

  09-03-2015 17:19
  
  Iowa drivers will stay out of the fast lane for now, after lawmakers did not advance a bill that would have boosted the speed limit on interstate highways, bringing it in line with many nearby states. The bill sought to …
  The article Safety Concerns Block Effort to Raise Interstate Speed Limit in Iowa appeared first on Insurance Journal.
  
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• USGS: M5.7 Earthquake Off Alaska Over Weekend Felt by Few

  09-03-2015 17:16
  
  The U.S. Geological Survey says there was a magnitude-5.7 earthquake in the western Aleutian Islands but it wasn’t felt by any Alaska communities. The quake hit early Saturday at a depth of about 6 miles. The epicenter was near the …
  The article USGS: M5.7 Earthquake Off Alaska Over Weekend Felt by Few appeared first on Insurance Journal.
  
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• Kansas Hotel Owners Hired Illegal Immigrants, Didn’t Pay Taxes, Workers’ Comp

  09-03-2015 17:14
  
  When a suburban Kansas City couple bought two Clarion hotels, they systematically replaced lawfully employed workers with immigrants not authorized to work in the United States, cutting labor costs by 40 percent. Not only were the illegal workers paid a …
  The article Kansas Hotel Owners Hired Illegal Immigrants, Didn’t Pay Taxes, Workers’ Comp appeared first on Insurance Journal.
  
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• Connecticut Bill Would Help Firefighters Claim Cancer Compensation

  09-03-2015 17:11
  
  Connecticut state lawmakers are considering legislation that would presume firefighters who have cancer most likely got it from their jobs, easing claims for insurance or workers’ compensation. The science supports firefighters’ argument, Waterbury Deputy Chief Richard Hart, political affairs director …
  The article Connecticut Bill Would Help Firefighters Claim Cancer Compensation appeared first on Insurance Journal.
  
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• Iowa Court Limits Damages to 2 Years in Wage Discrimination Lawsuit

  09-03-2015 17:09
  
  Three women who worked for Muscatine, Iowa-based office furniture manufacturer Allsteel Inc. may proceed with a lawsuit that alleges wage discrimination, the Iowa Supreme Court said, but any damages will be limited to a two-year period. Erin Dindinger, Lisa Loring …
  The article Iowa Court Limits Damages to 2 Years in Wage Discrimination Lawsuit appeared first on Insurance Journal.
  
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• Oklahoma Treasurer: Insurance Bills ‘Shameful’

  09-03-2015 17:08
  
  State Treasurer Ken Miller says two bills that would keep his office from linking Oklahoma residents with rightful life insurance proceeds are “shameful” and vowed to sue the state if one of the measures becomes law. Miller, a Republican who …
  The article Oklahoma Treasurer: Insurance Bills ‘Shameful’ appeared first on Insurance Journal.
  
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• Hub Acquires Assets of California-Based Laubacher

  09-03-2015 17:07
  
  Hub International Limited has acquired the assets of Laubacher Insurance Agency Inc., which services the California counties of Ventura, Santa Barbara and San Luis Obispo. Terms of the deal were not disclosed. The agencies will become part of the California operations …
  The article Hub Acquires Assets of California-Based Laubacher appeared first on Insurance Journal.
  
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