Insurance news

• Reinsurance leader happy, not considering future mergers

  01-05-2015 22:11
  
  Validus Holdings Ltd. leader Ed Noonan said he is happy with the company's current business model and not even considering the prospect of merging with another reinsurer.
  
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• Gallagher acquires human resources consultant

  01-05-2015 21:49
  
  Arthur J. Gallagher & Co. said Friday that it has acquired Integrated Healthcare Strategies, a Kansas City, Missouri-based human resources consultant.
  
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• How to Interest Millennials in Insurance Careers

  01-05-2015 21:48
  
  Many property/casualty insurance professionals are worried about how the industry is going to replace the huge population of baby boomers retiring now and over the next decade. Almost half of insurance industry professionals are over age 45, with 25 percent …
  The article How to Interest Millennials in Insurance Careers appeared first on Insurance Journal.
  
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• Canada toughens oil train safety standards

  01-05-2015 21:44
  
  (Reuters) — The United States and Canada on Friday announced long-awaited safety rules for trains carrying oil, as regulators seek to reduce risks after a series of explosive accidents that accompanied a surge in crude-by-rail shipments.
  
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• Gov. Wolf opens door to running insurance marketplace - Allentown Morning Call

  01-05-2015 21:42
  
  Allentown Morning Call
  Gov. Wolf opens door to running insurance marketplace
  Allentown Morning Call
  Gov. Tom Wolf, seen at right, has vowed to continue the health insurance marketplace for Pennsylvania residents. Gov. Tom Wolf, seen at right, has vowed to continue the health insurance marketplace for Pennsylvania residents. (Jake Danna Stevens / AP).
  Wolf looks at health insurance exchange for PennsylvaniaTribune-Review
  Wolf opens door to running insurance marketplaceCarlisle Sentinel
  Wolf open
  
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• OSHA issues final confined space construction rule

  01-05-2015 21:34
  
  The Occupational Safety and Health Administration issued a final confined spaces rule Friday to increase protections for construction workers.
  
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• Baltimore Riot Damage Adds Burden to Small Businesses

  01-05-2015 21:31
  
  Richard Sung Kang’s American dream came crashing down in a shower of broken glass. His West Baltimore liquor store and bar, the Oxford Tavern, was hit by looters during a riot over the police-involved death of neighborhood resident Freddie Gray. …
  The article Baltimore Riot Damage Adds Burden to Small Businesses appeared first on Insurance Journal.
  
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• Phishing emails trick employees to reveal patients’ information

  01-05-2015 21:24
  
  Boston-based health care system Partners Healthcare Inc. says personal patient information was revealed by its employees in November in response to “phishing” emails.
  
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• Chicago's solvency at risk as pension liability grows

  01-05-2015 21:21
  
  (Reuters) — Chicago's $20 billion unfunded public pension liability is on track to grow significantly regardless of the outcomes of litigation over the constitutionality of benefit cuts or legislative action, Moody's Investors Service said on...
  
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• Insurer not liable for $7 million judgment in charcoal kiln door death

  01-05-2015 21:12
  
  An insurer has no duty to defend or indemnify the owner of a charcoal manufacturing company where a worker was killed when she was crushed by a 2,000-pound steel door, the Missouri Supreme Court has ruled.
  
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• AIG results show continued improvement, analysts say

  01-05-2015 21:03
  
  American International Group Inc.'s first quarter results show continued improvement in a difficult environment for insurance pricing and investment returns, according to analysts.
  
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• Wells Fargo (WFC) Seeking to Expand Insurance Presence? - Zacks.com

  01-05-2015 20:53
  Wall Street Journal (blog)
  Wells Fargo (WFC) Seeking to Expand Insurance Presence?
  Zacks.com
  Wells Fargo & Company (WFC - Analyst Report) is likely to expand its insurance business, in an effort to boost revenues as low interest rates weigh on the banking giant's lending business. The company has recruited over 50 officials to the insurance ...
  Wells Fargo Looks to Expand Insurance BusinessWall Street Journal (blog)
  Wells Fargo & Co. (WFC) To Expand Insurance BusinessBidness ETC
  Wel
  
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• GEICO Names Jacobi Assistant Vice President in California

  01-05-2015 20:00
  
  GEICO has named Greg Jacobi assistant vice president of underwriting in its San Diego, Calif. regional office. Previously, Jacobi served as assistant vice president of underwriting for the company’s Dallas regional office. Jacobi succeeds Frankie Silva, who will lead underwriting …
  The article GEICO Names Jacobi Assistant Vice President in California appeared first on Insurance Journal.
  
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• Ryan Specialty unit launches property coverage program

  01-05-2015 19:29
  
  New York-based WKFC Underwriting Managers, part of Ryan Specialty Group L.L.C., has launched a nationwide property insurance program with wind coverage.
  
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• Kaufman Financial CEO endows insurance professor at MSU - Lansing State Journal

  01-05-2015 19:15
  
  Lansing State Journal
  Kaufman Financial CEO endows insurance professor at MSU
  Lansing State Journal
  Alan Jay Kaufman, CEO of H.W. Kaufman Financial Group in Farmington Hills, has pledged more than $1 million to endow a faculty professorship in insurance and risk management within the Eli Broad College of Business at Michigan State University.
  Detroit entrepreneur creates significant endowment for insurance professorship ...MSUTodayall 5 news articles »
  
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• XL CEO Mike McGavick talks Catlin acquisition, combined company’s future, rebranding

  01-05-2015 19:06
  XL Catlin CEO discusses with PC360 what this deal will mean for both companies going forward.
  
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• ACLU of Rhode Island to File Lawsuit on Behalf of Medical Marijuana Users

  01-05-2015 19:00
  
  The American Civil Liberties Union of Rhode Island says it is filing a lawsuit against a major Rhode Island employer on behalf of a medical marijuana user. The ACLU says the employer has refused to hire anyone participating in the …
  The article ACLU of Rhode Island to File Lawsuit on Behalf of Medical Marijuana Users appeared first on Insurance Journal.
  
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• Strong dollar outweighs organic growth as Aon's revenue dips

  01-05-2015 19:00
  
  Aon P.L.C. saw first-quarter revenue slip 3.4% to $2.85 billion as headwinds from foreign currency and excess reinsurance capital offset 3% organic growth, the brokerage said Friday.
  
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• Sony, Zurich Reach Settlement in PlayStation Data Breach Case in New York

  01-05-2015 18:59
  
  Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in a commercial general liability (CGL) policy coverage case stemming from the April 2011 hacking of Sony’s PlayStation online services, according to court documents filed Thursday. The …
  The article Sony, Zurich Reach Settlement in PlayStation Data Breach Case in New York appeared first on Insurance Journal.
  
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• Arthur J. Gallagher Acquires Midwest Healthcare Consulting Firm

  01-05-2015 18:46
  
  Itasca, Ill.-based Arthur J. Gallagher & Co. has acquired Integrated Healthcare Strategies located in Kansas City, Mo., and Minneapolis, Minn. Terms of the transaction were not disclosed. With operations dating back to 1974, Integrated Healthcare Strategies (Integrated) provides strategic human resources consulting services specifically …
  The article Arthur J. Gallagher Acquires Midwest Healthcare Consulting Firm appeared first on Insurance Journal.
  
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• JLT USA expects $50 million in 2015 revenue

  01-05-2015 18:41
  
  JLT USA, a unit of London-based insurance and reinsurance brokerage Jardine Lloyd Thompson Group P.L.C., is expected to post $50 million in revenue and a net trading loss of $35 million for 2015, the company said Friday.
  
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• Former insurance superintendent to join reinsurance broker

  01-05-2015 18:24
  
  Former New York Superintendent of Insurance James J. Wrynn will join Guy Carpenter & Co. L.L.C. as managing director/vice chair of strategic advisory (U.S.) on May 11, his current employer, law firm Goldberg Segalla, announced Friday.
  
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• Huffington at RIMS 2015: Risk managers, get more sleep!

  01-05-2015 18:23
  Arianna Huffington, president and editor-in-chief of Huffington Post Media Group, delivered the closing keynote for RIMS 2015.
  
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• The best of the best! Here are the RIMS 2015 award winners and honorees

  01-05-2015 18:14
  During the recent RIMS 2015 Annual Conference & Exhibition Awards Luncheon in New Orleans, RIMS honored several individuals with a series of industry awards.
  
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• Report: 50 Massachusetts Workers Died on the Job in 2014

  01-05-2015 18:13
  
  Fifty workers died from injuries on the job in Massachusetts last year. That’s according to a report released Tuesday by the Massachusetts AFL-CIO and the Massachusetts Coalition for Occupation Safety and Health. Transportation workers — including taxi, bus and truck …
  The article Report: 50 Massachusetts Workers Died on the Job in 2014 appeared first on Insurance Journal.
  
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• CMS enacts Medicare secondary payer appeals process

  01-05-2015 18:12
  The Centers for Medicare and Medicaid Services has enacted a formal appeals process for workers compensation claim payers and others who want to contest reimbursements that must be paid under federal Medicare Secondary Payer rules.
  
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• Ethics Case Against Former School Board Member Tied to Insurance Consultant

  01-05-2015 18:07
  
  Former Lafayette Parish School Board member Mark Cockerham is facing a violation of state ethics laws. The Louisiana Board of Ethics says Cockerham allegedly accepted Saints game tickets from an insurance consultant working for the school board. The Advocate reports …
  The article Ethics Case Against Former School Board Member Tied to Insurance Consultant appeared first on Insurance Journal.
  
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• Detroit Mayor Says Plan Would Lower Car Insurance Cost

  01-05-2015 18:05
  
  The mayor of Detroit says he’ll ask state lawmakers to approve a car insurance program that would lower rates for city residents. Mayor Mike Duggan says the plan could cut costs by $1,000 a year. He has said the high …
  The article Detroit Mayor Says Plan Would Lower Car Insurance Cost appeared first on Insurance Journal.
  
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• Uber’s Office in Southern China Raided by Government: Xinhua News Agency

  01-05-2015 17:58
  
  Authorities in the southern Chinese city of Guangzhou have raided the local office of online ride-hailing service Uber on suspicion of “unlicensed operation,” seizing a number of mobile phones, the official Xinhua news agency said on Friday. “The company is …
  The article Uber’s Office in Southern China Raided by Government: Xinhua News Agency appeared first on Insurance Journal.
  
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• Music streaming service Grooveshark shuts down to settle infringement

  01-05-2015 17:53
  
  (Reuters) — Online music streaming service Grooveshark, admitting "very serious mistakes," shut down its operations as part of a settlement with major record labels, joining the ranks of several now-defunct peers sued over copyright infringement.
  
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• Baltimore picks up the pieces: Here's what the city looks like today

  01-05-2015 17:41
  The City of Baltimore continues to clean up following this week's riots. Here's what the aftermath looks like.
  
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• 2 Lawsuits Over 2013 Arizona Wildfire Dismissed by Judge

  01-05-2015 17:36
  
  Two lawsuits filed against Arizona by homeowners whose properties were destroyed by the Yarnell Hill Fire have been dismissed. A Maricopa County Superior Court judge agreed Wednesday with the state’s argument that it didn’t have a duty to protect the …
  The article 2 Lawsuits Over 2013 Arizona Wildfire Dismissed by Judge appeared first on Insurance Journal.
  
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• Pharmacy benefits unit to pay $45 million over Novartis kickback scheme

  01-05-2015 17:31
  
  (Reuters) — A unit of pharmacy benefits manager Express Scripts Holding Co. will pay $45 million to resolve U.S. claims it participated in a kickback scheme with Novartis AG to boost sales of a drug that led to improper government reimbursements.
  
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• New Mexico AG Says Uber, Lyft Drivers Need Drug Testing

  01-05-2015 17:29
  
  Drivers of ridesharing services Lyft and Uber in New Mexico should face strict drug testing requirements like taxi drivers and keep detailed records of such tests, the state Attorney General Hector Balderas told regulators Monday. In a letter to the …
  The article New Mexico AG Says Uber, Lyft Drivers Need Drug Testing appeared first on Insurance Journal.
  
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• Doomsday water cycle threatens nations around the globe

  01-05-2015 17:29
  Throughout much of the U.S. and the world, we manage water and energy as if they were unrelated. In reality, they are Siamese twins.
  
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• Several California Hospitals Given Low Patient Safety Grades

  01-05-2015 17:24
  
  Nearly 40 percent of California hospitals earned low ratings for patient safety in a recent national assessment. The Los Angeles Times reported that nonprofit The Leapfrog Group issued a national report card Wednesday that gave nearly four in 10 California …
  The article Several California Hospitals Given Low Patient Safety Grades appeared first on Insurance Journal.
  
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• Data Stolen on 900 Southern California Mental Health Patients

  01-05-2015 17:22
  
  Authorities say personal information on 900 Los Angeles County mental health patients was stolen but it’s unclear if any of it was misused for ID theft. The Los Angeles Times reported documents with Social Security numbers, birth dates, medical and …
  The article Data Stolen on 900 Southern California Mental Health Patients appeared first on Insurance Journal.
  
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• California Jury Awards Woman $13M For Asbestos Exposure From Talcum

  01-05-2015 17:19
  
  A Los Angeles, Calif. jury has awarded $13 million to a 73-year-old woman who contracted a deadly disease from using asbestos-containing talcum powder manufactured by Colgate-Palmolive Co. The verdict Tuesday in Superior Court found that New York-based Colgate was 95 …
  The article California Jury Awards Woman $13M For Asbestos Exposure From Talcum appeared first on Insurance Journal.
  
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• $4.28 billion merger of XL and Catlin wraps

  01-05-2015 17:16
  
  XL Group P.L.C. has completed its $4.28 billion acquisition of Catlin Group Ltd., Dublin-based XL said Friday.
  
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• Safer rail cars for oil mandated two years after Quebec inferno

  01-05-2015 17:12
  The U.S. and Canadian governments have jointly set new rules designed to make railroad tank cars safer.
  
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• 18 tips for what to do before, during and after a power outage

  01-05-2015 17:12
  Before you curse the darkness, learn how to prepare for a blackout
  
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• AIG’s Commercial Lines Improves in Q1

  01-05-2015 17:05
  
  American International Group Inc.’s reported  good news in its commercial lines business during the first quarter that was partially offset by low interest rates and weak investment returns. AIG on Thursday reported net income increased more than 50 percent to …
  The article AIG’s Commercial Lines Improves in Q1 appeared first on Insurance Journal.
  
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• House committee advances military pension reforms

  01-05-2015 16:22
  
  The House Armed Services Committee on Thursday passed a defense spending bill that includes reforms to the military retirement system that encourage defined contribution savings.
  
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• Long-Term-Care Insurance: Is It Worth It? - Wall Street Journal

  01-05-2015 15:59
  
  Wall Street Journal
  Long-Term-Care Insurance: Is It Worth It?
  Wall Street Journal
  People used to buy long-term-care insurance because they were scared. Now it is the policies themselves that are keeping buyers awake at night. The coverage—which pays for some or all of the costs of nursing homes, assisted-living facilities and home ...and more »
  
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• AIG weighs too-big-to-fail off-ramp taken by GE, Hancock says

  01-05-2015 15:57
  American International Group Inc. said it would weigh reshaping the company to escape the U.S. government risk tag that brings greater regulatory oversight.
  
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• Lloyds says it’s poised to beat lending profitability target

  01-05-2015 15:51
  Lloyds Banking Group said it will exceed its lending profitability target after first-quarter earnings beat analyst estimates. The shares jumped the most in a year.
  
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• Health Insurance Deadline Passes for Most, but There Are Exceptions - New York Times

  01-05-2015 15:33
  New York Times
  Health Insurance Deadline Passes for Most, but There Are Exceptions
  New York Times
  THE last chance to sign up for health insurance this year under the Affordable Care Act passed on Thursday, when an extended deadline for enrollment expired. While most people will have to wait until the next open enrollment period in the fall, there ...
  
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• What every American needs to know about disability insurance - MarketWatch

  01-05-2015 15:01
  
  What every American needs to know about disability insurance
  MarketWatch
  NEWARK, N.J., May 01, 2015 (BUSINESS WIRE) -- According to 2013 Social Security Administration statistics, a 20-year-old worker has a three in 10 chance of becoming disabled before retirement age. With the likelihood of becoming disabled affecting so ...and more »
  
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• 4 tips to create must-read client emails

  01-05-2015 14:56
  Check out these 4 tips from Bill Good on writing effective emails to send to your insurance clients.
  
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• AG Lynch Urges Corporate, Government Cooperation to Fight Cybercrime

  01-05-2015 14:34
  
  Attorney General Loretta Lynch this week urged greater cooperation between the government and private industry to combat computer hackers, a key component of a new cyber- attack playbook released by the Justice Department. Speaking to a gathering of government and …
  The article AG Lynch Urges Corporate, Government Cooperation to Fight Cybercrime appeared first on Insurance Journal.
  
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