Insurance news

• Beecher Carlson alleges conspiracy, poaching

  14-04-2015 22:26
  Beecher Carlson Holdings Inc. is suing two former employees, charging that they conspired to steal confidential Beecher data and lure away Beecher employees and clients when they quit to form a rival broker last year.
  
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• Employees more optimistic about retirement

  14-04-2015 22:09
  
  Fewer employees are planning to delay their retirement due to inadequate savings or other financial issues, according to new survey data released on Tuesday by PricewaterhouseCoopers L.L.P.
  
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• Labor Department's proposal for new fiduciary standard moves to comment period

  14-04-2015 21:58
  
  The U.S. Department of Labor is moving full steam ahead with a proposed fiduciary standard for anyone giving retirement investment advice after years of retrenching, officials announced Tuesday.
  
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• Nurse’s claim of hospital’s malicious intent in injury by patient dismissed

  14-04-2015 21:58
  
  The West Virginia Supreme Court of Appeals has dismissed a deliberate intent suit a nurse filed against her employer after she was allegedly injured by a patient.
  
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• Florida Cabinet approves buying $2.2 billion more in catastrophe insurance - Tampabay.com

  14-04-2015 21:52
  
  Florida Cabinet approves buying $2.2 billion more in catastrophe insurance
  Tampabay.com
  TALLAHASSEE — Gov. Rick Scott and Cabinet members voted Tuesday to bolster the state's catastrophic insurance fund with $2.2 billion of added coverage in advance of what forecasters predict will be another quiet hurricane season in Florida.and more »
  
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• Japan court halts restart of two reactors in blow to nuclear sector

  14-04-2015 21:46
  
  (Reuters) — A Japanese court on Tuesday issued an injunction to prevent the restart of two reactors citing safety concerns, in a blow to Prime Minister Shinzo Abe's push to return to atomic energy four years after the Fukushima crisis.
  
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• Sharia-compliant equine coverage launched at Lloyd's

  14-04-2015 21:36
  
  XL Group P.L.C. and London-based managing general agency Cobalt Underwriting Services Ltd. have launched a Sharia-compliant equine coverage, XL said in a statement.
  
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• Egg sellers get jail time for salmonella outbreak

  14-04-2015 21:32
  
  Two former egg company executives have been sentenced to three months in jail, and the company fined $8.8 million, in connection with a 2010 salmonella outbreak that lead to the recall of millions of eggs.
  
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• Willis sues JLT over poaching allegations

  14-04-2015 21:27
  Willis Ltd. announced Tuesday that it has sued Jardine Lloyd Thompson Group P.L.C., JLT Specialty Ltd. and former Willis employee David Gordon for damages over JLT's poaching of Willis employees.
  
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• Willis hits back after JLT poaches specialty team

  14-04-2015 21:27
  
  Willis Ltd. announced Tuesday that it has sued Jardine Lloyd Thompson Group P.L.C., JLT Specialty Ltd. and former Willis employee David Gordon for damages over JLT’s poaching of Willis employees.
  
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• In the future, your insurance company will know when you're having sex - Fusion

  14-04-2015 21:17
  
  Fusion
  In the future, your insurance company will know when you're having sex
  Fusion
  Kashmir Hill is a senior editor at Fusion's Real Future. She has hacked a stranger's smart home, lived on Bitcoin & paid a surprise visit to the NSA's Utah datacenter, all while trying to prove pr... more · Twitter · Facebook; Email ...
  
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• Dismissal of Liberty Mutual pregnancy discrimination case upheld

  14-04-2015 21:05
  
  A U.S. appeals court has affirmed dismissal of a pregnancy discrimination and retaliation lawsuit filed by a former Liberty Mutual Group Inc. sales representative, stating her evidence was insufficient to support her claims.
  
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• Around the Industry: April 14, 2015

  14-04-2015 20:52
  News from Zurich American, the AIA, Arbella Insurance Group and more.
  
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• Exor offers PartnerRe $6.4B in cash to break up merger with Axis

  14-04-2015 19:50
  Exor SpA offered $6.4 billion for PartnerRe Ltd., seeking to break up the reinsurer’s planned merger with Axis Capital Holdings Ltd.
  
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• Update: Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal

  14-04-2015 19:45
  
  Italy’s billionaire Agnelli family, with a $6.4 billion unsolicited bid for PartnerRe Ltd., is seeking to thwart its target’s planned merger with AXIS Capital Holdings Ltd. EXOR SpA, the Turin-based investment company controlled by the family, offered $130 a share in cash, …
  The article Update: Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal appeared first on Insurance Journal.
  
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• Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal

  14-04-2015 19:45
  
  EXOR SpA offered $6.4 billion for PartnerRe Ltd., seeking to break up the reinsurer’s planned merger with AXIS Capital Holdings Ltd. EXOR, controlled by the Agnelli family, is offering $130 a share in cash, the company said in a statement …
  The article Italy’s EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal appeared first on Insurance Journal.
  
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• Lower interest rates, longer life spans give pensions double whammy

  14-04-2015 19:32
  
  Slammed by lower interest rates and adoption of new mortality assumptions reflecting longer life spans, funding levels of the largest U.S. corporate pension plans plunged in 2014, Towers Watson & Co. said Tuesday.
  
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• USAA named a top company for women in technology

  14-04-2015 19:05
  The Anita Borg Institute, a nonprofit dedicated to the advancement of women in technology, has released a report on the top companies in the world for female technologists. USAA is the only insurer on the list.
  
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• Millions, Including Sandy Victims, Facing Higher Flood Insurance Premiums - Insurance Journal

  14-04-2015 18:59
  
  TriValley Central
  Millions, Including Sandy Victims, Facing Higher Flood Insurance Premiums
  Insurance Journal
  A $24 billion sea of red ink has millions of Americans in vulnerable flood zones, including homeowners still struggling to recover from Superstorm Sandy, facing steep increases in flood insurance premiums. New legislation that went into effect this ...
  Flood insurance rates jump againTriValley Central
  Flood insurance bills rising another 18 percentOneida Dispatch
  Millions of homeowners
  
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• Kraft case to test Dodd-Frank muscle

  14-04-2015 18:58
  
  (Reuters) — Allegations of fraud and manipulative trading by Kraft Foods in derivatives markets are garnering attention beyond the fact that a household food and beverage-maker has been thrust into a regulatory doghouse normally reserved for the...
  
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• Progressive Insurance Reprises Rate Suckers Ad - ClaimsJournal.com

  14-04-2015 18:58
  Progressive Insurance Reprises Rate Suckers Ad
  ClaimsJournal.com
  A survey of 500 consumers conducted by the Progressive Group of Insurance Companies reveals that the majority of participants believe usage based insurance (UBI) is a fairer way to price insurance, versus the traditional insurance rating variables such ...and more »
  
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• Millions, Including Sandy Victims, Facing Higher Flood Insurance Premiums

  14-04-2015 18:56
  
  A $24 billion sea of red ink has millions of Americans in vulnerable flood zones, including homeowners still struggling to recover from Superstorm Sandy, facing steep increases in flood insurance premiums. New legislation that went into effect this month — …
  The article Millions, Including Sandy Victims, Facing Higher Flood Insurance Premiums appeared first on Insurance Journal.
  
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• NGM Insurance Brings Expanded Work Comp Program to Vermont - Insurance Journal

  14-04-2015 18:48
  
  NGM Insurance Brings Expanded Work Comp Program to Vermont
  Insurance Journal
  The Main Street America Group's NGM Insurance Co. has introduced an expanded workers' compensation program in Vermont via its network of independent insurance agents across the state. NGM's expanded workers' compensation product considers 10 ...and more »
  
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• Hot Insurance Markets for 2015 - Insurance Journal

  14-04-2015 18:48
  
  Hot Insurance Markets for 2015
  Insurance Journal
  This year's “Hot Markets” report for property/casualty insurance agents and brokers includes some not-so-usual suspects along with tried-and-true markets enjoying growth. Insurance Journal examined industries experiencing recent change and expansion.
  
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• Willis Pursuing Lawsuit against JLT for Interference in FAJS Sale to Miller

  14-04-2015 18:48
  
  Willis Limited – the Lloyd’s broker unit of Willis Group Holdings, announced that it “has commenced proceedings in the High Court in London against Jardine Lloyd Thompson Group plc, JLT Specialty Limited and Willis employee Mr. David Gordon for damages …
  The article Willis Pursuing Lawsuit against JLT for Interference in FAJS Sale to Miller appeared first on Insurance Journal.
  
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• Agnelli-owned firm launches rival bid for PartnerRe

  14-04-2015 18:45
  
  Italy’s Exor S.p.A., a European-listed investment company controlled by the Agnelli family, launched a rival bid for PartnerRe Ltd. valuing the reinsurer at $6.4 billion.
  
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• NGM Insurance Brings Expanded Work Comp Program to Vermont

  14-04-2015 18:44
  
  The Main Street America Group’s NGM Insurance Co. has introduced an expanded workers’ compensation program in Vermont via its network of independent insurance agents across the state. NGM’s expanded workers’ compensation product considers 10 characteristics that impact company placement, including …
  The article NGM Insurance Brings Expanded Work Comp Program to Vermont appeared first on Insurance Journal.
  
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• Crestbrook Insurance Expands High Net Worth Products to Missouri

  14-04-2015 18:35
  
  Crestbrook Insurance Co., an affluent market personal lines carrier from Nationwide, has expanded into Missouri. Independent insurance agents and brokers appointed with Crestbrook are now able to offer its products and services to their affluent clients in the state. Crestbrook …
  The article Crestbrook Insurance Expands High Net Worth Products to Missouri appeared first on Insurance Journal.
  
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• Hot Insurance Markets for 2015

  14-04-2015 18:33
  
  This year’s “Hot Markets” report for property/casualty insurance agents and brokers includes some not-so-usual suspects along with tried-and-true markets enjoying growth. Insurance Journal examined industries experiencing recent change and expansion. Here are the top market sectors that promise opportunities for …
  The article Hot Insurance Markets for 2015 appeared first on Insurance Journal.
  
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• Enhanced Security to Remain in Place for Boston Marathon

  14-04-2015 18:33
  
  Tight security will be in place again for the Boston Marathon — the second since the deadly 2013 bombing at the finish line. About 30,000 runners are expected to participate in next Monday’s race, with about 1 million spectators lining …
  The article Enhanced Security to Remain in Place for Boston Marathon appeared first on Insurance Journal.
  
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• Breckenridge CEO named insurance woman of the year by APIW

  14-04-2015 18:31
  
  Tracey Carragher, CEO of Breckenridge Insurance Group Inc. has been selected as this year's recipient of the APIW Insurance Woman of the Year Award by the Association of Professional Insurance Women, the association said Tuesday.
  
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• 19 Hurt in Megabus Double-Decker Crash in Indiana

  14-04-2015 18:31
  
  Nineteen passengers suffered non-life-threatening injuries morning when a double-decker bus heading from Chicago to Atlanta struck the back of a stopped semi-truck on Interstate 65, Indiana State Police said. The semi-truck stopped because of construction and the Megabus behind didn’t …
  The article 19 Hurt in Megabus Double-Decker Crash in Indiana appeared first on Insurance Journal.
  
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• Texas, Louisiana Improve Building Code Rankings; More Work Needed

  14-04-2015 18:25
  
  Texas doesn’t have the worst score in a recent ranking of state building code systems but it’s pretty close to the bottom, according to a national organization committed to improving the ability of properties throughout the nation to withstand catastrophic …
  The article Texas, Louisiana Improve Building Code Rankings; More Work Needed appeared first on Insurance Journal.
  
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• Schinnerer Unveils New Architects & Engineers Professional Liability Form

  14-04-2015 18:23
  
  Victor O. Schinnerer & Company, an underwriting manager, has launched a new professional liability policy form for design professionals. The new form includes a variety of policy enhancements for large, mid-size, and small architecture, engineering, surveying, and design consultant clients. …
  The article Schinnerer Unveils New Architects & Engineers Professional Liability Form appeared first on Insurance Journal.
  
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• Crop Insurance Uncertainty Hindering Arkansas Farmers - Insurance Journal

  14-04-2015 18:20
  
  Crop Insurance Uncertainty Hindering Arkansas Farmers
  Insurance Journal
  Lower commodity prices and uncertainties about new federal crop insurance programs are making it tougher for Arkansas row crop farmers to secure operating loans. Tight cash flow has already struck some growers as the percentage of loans going into ...
  
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• Michigan Officials: Crashes Up but Traffic Deaths Down in 2014

  14-04-2015 18:12
  
  Michigan traffic deaths totaled less than 900 last year for the first time since 2011 despite an increase in the total number of crashes in 2014, officials announced. There were 876 traffic deaths in 2014, down 8 percent from 951 …
  The article Michigan Officials: Crashes Up but Traffic Deaths Down in 2014 appeared first on Insurance Journal.
  
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• Departure of MetLife’s Wheeler Surprises Analysts

  14-04-2015 18:11
  
  MetLife Inc. posted the biggest decline in the 21-company Standard & Poor’s 500 Insurance Index after announcing the departure of William Wheeler, president of the Americas, disappointing those who thought he would be the next chief executive officer. Wheeler, 53, …
  The article Departure of MetLife’s Wheeler Surprises Analysts appeared first on Insurance Journal.
  
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• Crop Insurance Uncertainty Hindering Arkansas Farmers

  14-04-2015 18:10
  
  Lower commodity prices and uncertainties about new federal crop insurance programs are making it tougher for Arkansas row crop farmers to secure operating loans. Tight cash flow has already struck some growers as the percentage of loans going into state …
  The article Crop Insurance Uncertainty Hindering Arkansas Farmers appeared first on Insurance Journal.
  
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• Long Named Director of Michigan Workers’ Comp Agency

  14-04-2015 18:08
  
  Michigan Department of Licensing and Regulatory Affairs (LARA) Director Mike Zimmer announced the that Mark Long has been appointed director of the Michigan Workers’ Compensation Agency (WCA). Long, who had been serving as administrator for the WCA’s Funds Administration, replaces Kevin …
  The article Long Named Director of Michigan Workers’ Comp Agency appeared first on Insurance Journal.
  
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• Amini Named General Counsel at Oklahoma Insurance Department

  14-04-2015 18:06
  
  Oklahoma Insurance Commissioner John D. Doak has named Gordon Amini as general counsel of the Oklahoma Insurance Department (OID). Amini held the same title when he previously worked at the department in 1981. Amini recently retired from Physician Liability Insurance …
  The article Amini Named General Counsel at Oklahoma Insurance Department appeared first on Insurance Journal.
  
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• A.M. Best Singapore office to focus on Asian market

  14-04-2015 18:05
  A.M. Best Co. Inc. has opened an office in Singapore, the insurance and reinsurance credit rating agency said Tuesday in a statement.
  
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• Executive assistant claims boss made her watch 'chick flicks'

  14-04-2015 18:05
  
  A former Bates College employee has filed a discrimination lawsuit against the Lewiston, Maine-based institution, saying she — unlike her male coworkers — was expected to jog, take tennis lessons and watch “chick flicks” with her...
  
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• Where It Costs The Most -- And Least -- For Car Insurance - Forbes

  14-04-2015 17:58
  
  Forbes
  Where It Costs The Most -- And Least -- For Car Insurance
  Forbes
  If one were to believe the sheer volume of television commercials being broadcast to that end, we are a culture that's obsessed with our car insurance rates. GEICO alone reportedly spent nearly $2 Billion last year telling a rapt nation it could save ...and more »
  
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• Does uninsured motorist coverage cover the car or the injuries?

  14-04-2015 17:53
  There are two types of uninsured motorist coverage, one that can cover injuries and another that can cover your car. Most drivers who buy uninsured motorist coverage buy the kind that covers injuries.
  
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• Former Roselle, N.J. Mayor Headed to Jail for Insurance Fraud

  14-04-2015 17:49
  
  The former mayor of Roselle, New Jersey, has been sentenced to 90 days in jail for insurance fraud over false reports made after a hit-and-run accident. NJ.com reports that Garrett Smith was sentenced on April 10 after filing false reports …
  The article Former Roselle, N.J. Mayor Headed to Jail for Insurance Fraud appeared first on Insurance Journal.
  
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• Nonstandard Auto Insurance Market Is Not For Everybody - Insurance Journal

  14-04-2015 17:30
  
  Insurance Journal
  Nonstandard Auto Insurance Market Is Not For Everybody
  Insurance Journal
  The nonstandard auto market is not for every carrier or agency. Since 2007, carriers writing nonstandard auto policies have reported deteriorating operating performance and many have struggled to maintain market share. But while some have been hurt by ...
  
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• Utah Judge Rejects Class-Action Suit Over Alleged Bogus DUI Stops

  14-04-2015 17:29
  
  A Utah judge has rejected a potential class-action lawsuit seeking millions in damages for hundreds people arrested for drunken driving by disgraced former state trooper Lisa Steed. In a decision made public last week, Judge Michael Allphin ruled that the …
  The article Utah Judge Rejects Class-Action Suit Over Alleged Bogus DUI Stops appeared first on Insurance Journal.
  
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• Colorado Judge Rejects Class-Action Suit Over Alleged Bogus DUI Stops

  14-04-2015 17:29
  
  A Utah judge has rejected a potential class-action lawsuit seeking millions in damages for hundreds people arrested for drunken driving by disgraced former state trooper Lisa Steed. In a decision made public last week, Judge Michael Allphin ruled that the …
  The article Colorado Judge Rejects Class-Action Suit Over Alleged Bogus DUI Stops appeared first on Insurance Journal.
  
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• M3.5 Earthquake Felt Across Los Angeles Area

  14-04-2015 17:26
  
  A small earthquake was felt across a wide area of Los Angeles on Sunday night, but there were no immediate reports of damage or injury. The magnitude-3.5 quake struck at 9:17 p.m., the U.S. Geological Survey said. Los Angeles city …
  The article M3.5 Earthquake Felt Across Los Angeles Area appeared first on Insurance Journal.
  
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• Debate Begins Over School Violence Liability In Colorado

  14-04-2015 17:25
  
  A bill to make Colorado schools liable for shootings faces this week in the state Legislature. A Senate committee starts work on the measure inspired by the 2013 shooting death of Claire Davis at Arapahoe High School in Littleton. The bill …
  The article Debate Begins Over School Violence Liability In Colorado appeared first on Insurance Journal.
  
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