Insurance news

• Insurance tax, higher fees may pave NC highways - WRAL.com

  17-04-2015 23:51
  
  WRAL.com
  Insurance tax, higher fees may pave NC highways
  WRAL.com
  Raleigh, N.C. — Saying North Carolina's tax on gasoline is an unreliable source of revenue for the state's highway construction and maintenance program, lawmakers on Thursday rolled out a plan that would use higher vehicle fees and a tax on automobile ...
  
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• Man hospitalized gives medical staff false name to obtain insurance, police say - OregonLive.com

  17-04-2015 23:27
  
  OregonLive.com
  Man hospitalized gives medical staff false name to obtain insurance, police say
  OregonLive.com
  A Multnomah County grand jury has returned a two-count indictment against a 30-year-old man, who is accused of providing a Portland hospital with a bogus name in an effort to try to have his medical care covered by insurance. (Aimee Green/The Oregonian).and more »
  
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• Disaster Drought Might Net Insurance Savings - Memphis Daily News

  17-04-2015 23:02
  
  Memphis Daily News
  Disaster Drought Might Net Insurance Savings
  Memphis Daily News
  In 2011, following the Great Flood of 2010, there was lesser flooding that affected a much smaller area. Then there was the hailstorm in 2012 that resulted in new roofs for thousands – if not tens of thousands – of homes in the area. That was enough to ...
  
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• ​True Religion subcontractors charged with insurance fraud - L.A. Biz

  17-04-2015 22:14
  
  CBS Local
  ​True Religion subcontractors charged with insurance fraud
  L.A. Biz
  The state's insurance commission, led by California Insurance Commissioner Dave Jones, has charged subcontractors of True Religion Brand Jeans with underreporting more than $78 million in payroll to insurers. Staff L.A. Biz. The state's insurance ...
  3 Subcontractors Of True Religion Brand Jeans Arrested In $78M Insurance ...CBS Local
  True Religion Subcontractors Charged With Insurance FraudLos Angeles
  
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• MTM Insurance Associates Acquires Minichiello Insurance in Massachusetts - Insurance Journal

  17-04-2015 22:11
  
  MTM Insurance Associates Acquires Minichiello Insurance in Massachusetts
  Insurance Journal
  MTM Insurance Associates, an independent insurance agency based in North Andover, Massachusetts, announced its acquisition of Minichiello Insurance Agency, an independent agency in Bradford, Massachusetts. Terms of the transaction were not ...
  
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• Laptop spyware class action reinstated

  17-04-2015 22:08
  
  A U.S. appeals court has reinstated a putative class action lawsuit filed by a couple who said their rented computer had spyware that took pictures of them and the websites they visited, violating their privacy.
  
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• MTM Insurance Associates Acquires Minichiello Insurance in Massachusetts

  17-04-2015 22:01
  
  MTM Insurance Associates, an independent insurance agency based in North Andover, Massachusetts, announced its acquisition of Minichiello Insurance Agency, an independent agency in Bradford, Massachusetts. Terms of the transaction were not disclosed. Following the transaction, Minichiello Insurance Agency will operate …
  The article MTM Insurance Associates Acquires Minichiello Insurance in Massachusetts appeared first on Insurance Journal.
  
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• Vermont Mutual Names Bridge as President to Succeed Catto

  17-04-2015 21:38
  
  Vermont Mutual Insurance Group announced that its Board of Directors has elected Executive Vice President Daniel C. Bridge as president of the Group. Bridge succeeds President and CEO William A. Catto who will retire on June 30, 2015. Catto will …
  The article Vermont Mutual Names Bridge as President to Succeed Catto appeared first on Insurance Journal.
  
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• Insurance company now offers discounts -- if you let it track your Fitbit - Computerworld

  17-04-2015 21:35
  
  Computerworld
  Insurance company now offers discounts -- if you let it track your Fitbit
  Computerworld
  Could 15 minutes of exercise save you 15% on your life insurance? If you sign up with John Hancock, it could. The company has become the first to offer ratepayers a discount when they use Fitbit wristbands that enable exercise tracking. More like this.
  
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• U.S. calls for more oil train inspections, other safety measures

  17-04-2015 21:23
  (Reuters) — Oil train operators must have detailed information on hand about the possible risks of their cargo in case of an accident and perform more thorough checks before moving on the tracks, U.S. transportation officials said on Friday.
  
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• Alito steps into health reform contraception case

  17-04-2015 21:16
  
  Supreme Court Justice Samuel Alito has signed an order temporarily granting relief to a handful of Pennsylvania religious organizations from a lower court's decision that they must notify insurers of their intention not to provide birth control to...
  
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• Lower speed limits part of U.S. safety proposal for oil trains

  17-04-2015 21:16
  Trains carrying crude oil will be restricted to a 40 mile-per-hour speed limit in populated areas such as New York under an order by the U.S. Department of Transportation in response to a series of derailments.
  
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• Health care law reinsurance fee to generate about $10 billion says HHS

  17-04-2015 20:40
  
  A health care reform law-created program that imposes a fee on self-funded employers and other health care plan sponsors is expected to generate enough revenue to partially reimburse insurers — under earlier government set standards —...
  
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• Looking for a good read? Here are 3 new books with insurance connections

  17-04-2015 19:29
  From two non-fiction choices to a sexy thriller focusing on insurance fraud, the industry is the subject of three new tomes.
  
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• Tennessee comp insurer of last resort to get new administrator

  17-04-2015 19:01
  
  The National Council on Compensation Insurance Inc. will serve as the plan administrator for Tennessee’s residual workers compensation market as of July 1, according to the Tennessee Department of Commerce and Insurance.
  
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• Aspen, Starr venture to focus on international property cover

  17-04-2015 18:42
  
  Aspen Insurance, part of Aspen Insurance Holdings Ltd., and the Starr Cos. will form a vehicle to write international property insurance with a strong focus on European-headquartered industrial companies, Aspen said in a statement Friday.
  
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• Hackers increasingly target banks and their employees, not customers

  17-04-2015 18:34
  
  (Reuters) — Banks, rather than their customers, are increasingly the main target of online thieves, Europol director Rob Wainwright said on Friday in an interview.
  
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• TWFG Founder Named Gulf Coast Entrepreneur of the Year

  17-04-2015 18:21
  
  Richard “Gordy” Bunch, founder, president, and CEO of The Woodlands Financial Group (TWFG) has been nominated Gulf Coast Entrepreneur of the Year by Ernst & Young, making him eligible for the 2015 national award. The Entrepreneur of the Year program …
  The article TWFG Founder Named Gulf Coast Entrepreneur of the Year appeared first on Insurance Journal.
  
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• Sony Pictures condemns Wikileaks release of documents from hackers

  17-04-2015 18:19
  (Reuters) — Sony Corp.’s Sony Pictures Entertainment objected to the online release by WikiLeaks on Thursday of a searchable database of more than 30,000 documents that were obtained by hackers in a massive cyber attack last year.
  
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• Home Builders Safety Group Earns $117,226 Texas Mutual Dividend

  17-04-2015 18:13
  
  Austin-based Texas Mutual Insurance Co. announced it awarded a dividend of $117,226 to the Texas Home Builders (THB) safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and therefore …
  The article Home Builders Safety Group Earns $117,226 Texas Mutual Dividend appeared first on Insurance Journal.
  
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• Arkansas Plaintiffs Want Order Dismissing Exxon Oil-Spill Lawsuit Vacated

  17-04-2015 18:10
  
  Plaintiffs are urging a federal judge in Little Rock, Ark., to vacate his order dismissing a class-action lawsuit against Exxon Mobil, claiming the oil giant suppressed evidence in the case. The lawsuit, filed over a 2013 oil spill in a …
  The article Arkansas Plaintiffs Want Order Dismissing Exxon Oil-Spill Lawsuit Vacated appeared first on Insurance Journal.
  
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• Ratings of Illinois-Based Specialty Risk of America Downgraded

  17-04-2015 18:01
  
  A.M. Best has downgraded the financial strength rating (FSR) to B+ (Good) from B++ (Good) and the issuer credit rating (ICR) to “bbb-” from “bbb+” of Specialty Risk of America (SPRISKA) in Springfield, Ill. The outlook for the ICR remains negative, while the …
  The article Ratings of Illinois-Based Specialty Risk of America Downgraded appeared first on Insurance Journal.
  
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• Oklahoma Ridesharing Bill Passes Senate Without Discrimination Protections

  17-04-2015 17:55
  
  A bill that sets up a regulatory framework in Oklahoma for ridesharing programs such as Uber and Lyft passed the state Senate, but not before a provision protecting gay and transgender passengers from discrimination was removed. The version of the …
  The article Oklahoma Ridesharing Bill Passes Senate Without Discrimination Protections appeared first on Insurance Journal.
  
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• Insurance Department Recovers $4.4M for North Dakotans

  17-04-2015 17:51
  
  The North Dakota Insurance Department says it helped residents recover or save nearly $4.4 million last year. The department says the money was recovered on behalf of North Dakota residents through its hotline, complaints filed by consumers against insurance companies …
  The article Insurance Department Recovers $4.4M for North Dakotans appeared first on Insurance Journal.
  
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• Approval of New Orleans East Levees a Good Sign for Flood Insurance Rates

  17-04-2015 17:49
  
  Levee officials say the Federal Emergency Management Agency has certified non-federal levees in New Orleans East, a step which should help spur economic development in a part of the city lagging in its comeback from Hurricane Katrina. FEMA officials certified …
  The article Approval of New Orleans East Levees a Good Sign for Flood Insurance Rates appeared first on Insurance Journal.
  
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• Ex-Willis catastrophe bond chief joins rival

  17-04-2015 17:45
  
  Reinsurance brokerage TigerRisk Partners L.L.C. named Tony Ursano as its president Friday.
  
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• Ex-Daimler Engineer Files $2 Million Discrimination Suit in Oregon

  17-04-2015 17:40
  
  An Egyptian-born engineer is the latest worker to sue Portland, Ore.-based Daimler Trucks North America. The Oregonian reported the former employee seeks $2 million, alleging his supervisor often called him “bin Laden” and suggested he was a member of al-Qaida …
  The article Ex-Daimler Engineer Files $2 Million Discrimination Suit in Oregon appeared first on Insurance Journal.
  
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• Aspen Insurance, Starr Companies to Form Joint Europe Property Venture

  17-04-2015 17:39
  
  Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings Limited, and Starr Companies announced that they have “signed a memorandum of understanding under which both parties will enter into a joint underwriting initiative to write international property insurance, with …
  The article Aspen Insurance, Starr Companies to Form Joint Europe Property Venture appeared first on Insurance Journal.
  
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• Arkansas workers comp rates to decrease

  17-04-2015 17:26
  
  Arkansas employers will soon see workers compensation rate decreases in the voluntary and assigned-risk markets, the Arkansas Insurance Department said.
  
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• Arthur J. Gallagher Acquires Madison Risk & Insurance Services in California

  17-04-2015 17:24
  
  Arthur J. Gallagher & Co. has acquired Madison Risk & Insurance Services in Huntington Beach, Calif. Terms of the deal were not disclosed. Madison is a retail insurance broker providing property/casualty and risk management insurance and consulting services exclusively for …
  The article Arthur J. Gallagher Acquires Madison Risk & Insurance Services in California appeared first on Insurance Journal.
  
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• Bill Giving California Agents Access to Vehicle Records Passes Committee

  17-04-2015 17:20
  
  A bill that would direct the California Department of Motor Vehicles to give insurance agents and brokers better access to motor vehicle records was unanimously approved by the Assembly Transportation Committee. Assembly Bill 933, sponsored by the Independent Insurance Agents …
  The article Bill Giving California Agents Access to Vehicle Records Passes Committee appeared first on Insurance Journal.
  
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• Bill would extend Health Coverage Tax Credit

  17-04-2015 17:10
  
  Employees who have lost their jobs due to foreign competition, as well as retirees in failed pension plans, again would be eligible for federal health insurance premium subsidies under legislation introduced Thursday in the U.S. Senate.
  
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• MH370 search area will double if current plan fails

  17-04-2015 16:37
  Investigators looking for Malaysia Airlines Flight 370 in the Indian Ocean may almost double the area they are combing if the current search doesn’t yield any results.
  
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• Greenberg faces trial as court rejects bid to toss AIG suit

  17-04-2015 16:26
  Former AIG Chairman Hank Greenberg lost his bid to toss a decade-old fraud suit by New York’s attorney general.
  
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• Exor shuns hedge fund approach with its $6.4B PartnerRe takeover plan

  17-04-2015 16:19
  Exor is shunning the idea that it should take on more risk in PartnerRe Ltd.’s investment portfolio after making an unsolicited buyout offer for the Bermuda-based company.
  
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• Independent Agents Identify Business Opportunities for Carriers: Survey

  17-04-2015 16:18
  
  Most independent insurance agents are impressed by the carriers they place business with – but most also are interested in adding new company partners. This is one of the preliminary findings of a recent national survey of independent agents conducted …
  The article Independent Agents Identify Business Opportunities for Carriers: Survey appeared first on Insurance Journal.
  
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• Global Alliance founder starts Mozambique insurer

  17-04-2015 16:09
  Called ICE Seguros, the new insurer will provide insurance services to industries including mining, banking, oil, gas and construction.
  
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• Global Alliance Founder Wins License to Operate Mozambique Insurer

  17-04-2015 15:01
  
  The Mozambican unit of a company set up by Global Alliance Group founder Robert Lewis has won a license to become the southern African nation’s 17th insurer. ICE Seguros, part of London-based International Commercial & Engineering Holdings, will provide insurance services …
  The article Global Alliance Founder Wins License to Operate Mozambique Insurer appeared first on Insurance Journal.
  
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• Top 10 states for hail damage claims

  17-04-2015 14:55
  Texas, Illinois and Colorado lead the nation for states with the most hail damage claims, according to a State Farm report.
  
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• The role of empathy in workers' comp

  17-04-2015 14:40
  Most of us deal with sick and injured workers on a daily basis. At some point, daily tasks and deadlines take over and empathy takes a backseat.
  
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• TigerRisk Partners Appoints Ursano President

  17-04-2015 14:20
  
  TigerRisk Partners LLC, the reinsurance broking and risk/capital management firm, announced that it has appointed Tony Ursano, a veteran investment banker and reinsurance expert, as its President. He will help “grow the firm’s business, identify and source the most efficient …
  The article TigerRisk Partners Appoints Ursano President appeared first on Insurance Journal.
  
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• It's wildfire season: 5 things your clients need to know

  17-04-2015 14:19
  For homeowners living in areas at high risk for wildfires, there are number of pre-fire activities that will decrease the likelihood of property damage and loss.
  
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• Nissan to expand U.S. recalls tied to Takata air-bag flaw

  17-04-2015 13:21
  Nissan Motor Co. plans to expand a regional U.S. recall of cars with potentially defective Takata Corp. air bags after a woman said she was injured last month by shrapnel from the device in her 2006 Sentra sedan.
  
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• CEOs of 43 Companies, Including Allianz, Call for Action on Climate Change

  17-04-2015 12:54
  
  The bosses of 43 companies including Ikea, Dow Chemical Co. and HSBC Holdings plc called for swift action on climate change, a sign businesses are prepared for a United Nations deal this year on limiting fossil fuel emissions. The chief …
  The article CEOs of 43 Companies, Including Allianz, Call for Action on Climate Change appeared first on Insurance Journal.
  
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• Hackers targeting electric and nuclear power plants: Official

  17-04-2015 12:31
  
  Gabi Siboni, director of cyber security program at Israel's Institute for National Security Studies, has said that hackers have started targeting electric and nuclear power plants around the world, The Jerusalem Post reported.
  
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• Insurers and reinsurers continue to reduce earnings targets: Survey

  17-04-2015 12:29
  
  A recent survey by A.M. Best Co. Inc. has shown that insurers and reinsurers continue to decrease their return on equity targets as they become less confident in their ability to maintain ROE levels, Artemis.bm reported.
  
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• Royal Bank of Scotland Gives Lloyds Some Political Insurance - Wall Street Journal

  17-04-2015 12:29
  
  Wall Street Journal
  Royal Bank of Scotland Gives Lloyds Some Political Insurance
  Wall Street Journal
  Royal Bank of Scotland RBS -1.69 % 's top executives weren't thinking about Lloyds Banking Group LYG -1.45 % when drawing up their latest restructuring plan, but they may still have done their U.K. rival a favor. RBS's radical decision announced in ...
  
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• RHB Capital likely to offload or reduce interest in insurance unit

  17-04-2015 12:26
  
  Malaysia's RHB Capital Bhd. is likely to offload or reduce interest in its insurance arm, RHB Insurance Bhd., as it undertakes major restructuring, The Star Online reported.
  
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• Terror alert issued in India

  17-04-2015 12:25
  
  Sources have said that a terror alert has been issued in India after intelligence agencies warned of a possible attack by terrorist organization Lashkar-e-Taiba, reported Xinhua.
  
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• Vietnam's helicopter service provider inks $216 million insurance contract

  17-04-2015 12:22
  
  Vietnam Helicopter Corp. has signed an insurance contract with a consortium of three insurers in the country for 2015-16, reported Tinnhanhchungkhoan.vn.
  
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