Insurance news

• The Insurance That Poses a Hidden Threat - New York Times

  08-05-2015 20:46 via nytimes.com
  The Insurance That Poses a Hidden Threat
  New York Times
  Another financial crisis is inevitable, the only question is what will ignite it. Will it be what Jeffrey Gundlach, the founder of the $75 billion fixed-income hedge fund DoubleLine Capital, worried about this week at the Sohn Investment Conference ...
  
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• Wells Fargo Insurance Names Anderson Head of San Francisco Bay Area

  08-05-2015 20:11
  
  Wells Fargo Insurance has named Steve Anderson managing director for the San Francisco Bay Area region. Anderson will lead business development, cross-sell, and sales for Wells Fargo’s four insurance offices.  He is based in San Francisco, and will report to …
  The article Wells Fargo Insurance Names Anderson Head of San Francisco Bay Area appeared first on Insurance Journal.
  
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• Leavitt Group in Idaho Names Barnes Account Manager

  08-05-2015 19:59
  
  Leavitt Group of Boise has named Stephanie Barnes a commercial account manager in Idaho. Barnes has 26 years of experience. She specializes in insurance for municipalities, professional offices, retail operations, construction, and those in the service industry. Barnes has assisted …
  The article Leavitt Group in Idaho Names Barnes Account Manager appeared first on Insurance Journal.
  
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• Do you really need travel insurance? - The Seattle Times

  08-05-2015 19:53 via seattletimes.com
  
  Do you really need travel insurance?
  The Seattle Times
  The come-ons for insurance are constant and often compelling when you travel. They start the moment you click on an online booking site. Want to insure your airline ticket? Your cruise? How about your luggage, pets or rental skis? Take a look around: ...and more »
  
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• Forced-coverage policies may be expensive insurance for homeowners - NewsOK.com

  08-05-2015 19:37 via newsok.com
  
  Arizona Daily Star
  Forced-coverage policies may be expensive insurance for homeowners
  NewsOK.com
  WASHINGTON — Anyone who has taken out a home mortgage knows that one of the borrower's key responsibilities is to pay hazard insurance premiums on the property and not let the policy lapse. But are you aware that if you fail to keep the insurance ...
  Harney: Lawsuits over costly insuranceArizona Daily Starall 18 news articles »
  
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• Subtropical Storm Ana becomes Atlantic season’s first system

  08-05-2015 19:20
  Subtropical Storm Ana has stalled off the U.S. East Coast after forming overnight, arriving more than three weeks before the official start of the Atlantic hurricane season.
  
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• Subtropical Storm Ana becomes 2015 Atlantic season’s first system

  08-05-2015 19:20
  Subtropical Storm Ana has stalled off the U.S. East Coast after forming overnight, arriving more than three weeks before the official start of the Atlantic hurricane season.
  
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• Most U.S. drivers in decade to hit the road for Memorial Day

  08-05-2015 19:16
  U.S. travel over the May 25 Memorial Day weekend is poised to reach a 10-year high as Americans with more money in their pockets are lured onto the roads by lower prices at the pump.
  
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• Jury Rules for Deloitte Over Insurance-Company Failures - Wall Street Journal

  08-05-2015 19:09 via wsj.com
  
  Jury Rules for Deloitte Over Insurance-Company Failures
  Wall Street Journal
  A jury has ruled that Deloitte & Touche LLP isn't liable in Florida's biggest-ever insurance-company collapse. The Florida Department of Financial Services didn't prove its claims that Deloitte was negligent in its audits for three insurance companies ...
  State still struggling to recoup losses from Poe insurance collapseTampabay.comall 5 news articles »
  
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• The staged insurance loss

  08-05-2015 18:50
  A staged insurance loss is a fictitious loss created for the sole purpose of defrauding an insurer. Wherever insurance exists in the world there is insurance fraud.
  
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• HSB Launches Enhanced Farm Equipment, Machinery Breakdown Coverage

  08-05-2015 18:21
  
  The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched a new farm equipment and machinery breakdown coverage with expanded insurance for mobile implements and the precision electronics that control them, among other enhancements. HSB’s …
  The article HSB Launches Enhanced Farm Equipment, Machinery Breakdown Coverage appeared first on Insurance Journal.
  
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• Novamar Insurance Group Expands Yacht Program

  08-05-2015 18:12
  
  Novamar Insurance Group, Inc. has expanded its Novamar Offshore Yacht Insurance program.  Yacht owners can now insure their vessels while cruising locally or around the world with an “A + rated” U.S. insurance company at competitive premiums.  The Novamar Offshore …
  The article Novamar Insurance Group Expands Yacht Program appeared first on Insurance Journal.
  
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• 34 Arrested in Louisiana Insurance Fraud Investigation

  08-05-2015 18:08
  
  Louisiana State Police say a two month investigation into insurance fraud and auto theft has led to the arrest of 34 people across the state. Troopers say in a news release its Insurance Fraud and Auto Theft unit investigated staged …
  The article 34 Arrested in Louisiana Insurance Fraud Investigation appeared first on Insurance Journal.
  
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• California Commissioner OKs 10.2% Drop in Workers’ Comp Advisory Rates

  08-05-2015 18:04
  
  Insurance Commissioner Dave Jones signed on to a recommendation by the California Workers’ Compensation Insurance Rating Bureau of an advisory pure premium rate for July that is 10.2 percent lower than those approved on Jan. 1. Jones issued his decision …
  The article California Commissioner OKs 10.2% Drop in Workers’ Comp Advisory Rates appeared first on Insurance Journal.
  
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• Ohio Ice Cream Maker Traces Listeria to Pint-Filling Machine

  08-05-2015 17:58
  Jeni’s Splendid Ice Creams says it has traced the source of listeria in its Ohio production facility to a pint-filling machine. CEO John Lowe says in a statement that the company will never be sure how the bacteria got into …
  The article Ohio Ice Cream Maker Traces Listeria to Pint-Filling Machine appeared first on Insurance Journal.
  
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• Chinese Drywall Maker’s 65% Owner Wants Out of Lawsuit

  08-05-2015 17:56
  
  The majority owner of a company that made defective Chinese drywall says it should be dropped from a lawsuit with the potential for hundreds of millions of dollars in damages, because it does not manage the drywall manufacturer. The suit …
  The article Chinese Drywall Maker’s 65% Owner Wants Out of Lawsuit appeared first on Insurance Journal.
  
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• Damage Reported in 6 Kansas Counties Following Storms

  08-05-2015 17:49
  
  Storms that packed at least nine confirmed tornadoes, hail and heavy rain left behind damage in Kansas counties but no fatalities or major injuries. The Kansas Division of Emergency Management said in a news release that the storm moved from …
  The article Damage Reported in 6 Kansas Counties Following Storms appeared first on Insurance Journal.
  
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• Indiana Governor Signs Bill Repealing Construction Minimum Wage Law

  08-05-2015 17:47
  
  Local boards will no longer set minimum wages for public construction projects in Indiana under a law signed by Republican Gov. Mike Pence. The bill will eliminate the boards that set what is known as the common construction wage that …
  The article Indiana Governor Signs Bill Repealing Construction Minimum Wage Law appeared first on Insurance Journal.
  
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• Blue Bell Likely Aware of Listeria Problems in 2013: FDA

  08-05-2015 17:46
  
  Texas-based Blue Bell Creameries likely knew as early as 2013 of a Listeria problem at its Oklahoma plant and did not do enough to make sure its factory was sanitized, according to documents from the U.S. Food and Drug Administration. …
  The article Blue Bell Likely Aware of Listeria Problems in 2013: FDA appeared first on Insurance Journal.
  
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• Northern Washington Rattled By Small Quake

  08-05-2015 17:33
  
  A relatively small magnitude 3.7 earthquake shook the ground north of Seattle on Thursday. The U.S. Geological Survey says the quake at 1:42 a.m. was about 8 miles northeast of Bryant, in Snohomish County. About 50 people in Arlington, about 10 …
  The article Northern Washington Rattled By Small Quake appeared first on Insurance Journal.
  
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• Former Utah University Employee Files Suit Against University

  08-05-2015 17:32
  
  A former Utah State University employee who was fired for accepting gifts says he didn’t receive proper ethics training from the university. The Herald Journal reported that the university’s former outdoor recreation director Kevin Kobe has filed a lawsuit against …
  The article Former Utah University Employee Files Suit Against University appeared first on Insurance Journal.
  
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• Lyft Says Plans to Pull out of New Mexico over Rules

  08-05-2015 17:29
  
  Ridesharing service Lyft says it’s suspending operations in New Mexico after state regulators passed new requirements that the company called “onerous.” The San Francisco-based firm set a May 14 deadline for the move, which comes weeks after state regulators passed a …
  The article Lyft Says Plans to Pull out of New Mexico over Rules appeared first on Insurance Journal.
  
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• Car Smashes Into Oregon Insurance Agency, Injures 2

  08-05-2015 17:24
  
  Two men were hospitalized after one drove his car through an insurance agency’s front window in southeast Portland, Ore. KPTV-TV reported that surveillance video shows a white ford focus accelerating as it goes through the company’s front window Wednesday afternoon. …
  The article Car Smashes Into Oregon Insurance Agency, Injures 2 appeared first on Insurance Journal.
  
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• California Apartment Fire Displaces Hundreds, Causes $850,000 in Damage

  08-05-2015 17:21
  
  About 200 residents are assessing the damage after a two-alarm fire emptied their Southern California apartment building for the night, shutting off power and burning units and cars. The Orange County Register reported more than four dozen firefighters put out …
  The article California Apartment Fire Displaces Hundreds, Causes $850,000 in Damage appeared first on Insurance Journal.
  
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• Scottsdale Names Jordan Associate VP for Program Brokerage

  08-05-2015 16:44
  
  Scottsdale Insurance Co. has named Heather Jordan as associate vice president of Brokerage Programs. In this role, she will be responsible for overseeing program business including Casualty, Excess, Workers’ Compensation, Auto, Property, Inland Marine, Ocean Marine, Environmental and Auto Warranty. …
  The article Scottsdale Names Jordan Associate VP for Program Brokerage appeared first on Insurance Journal.
  
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• Water scarcity threatens food and beverage production

  08-05-2015 16:39
  Food and beverage producers face rising costs that could curtail growth as water shortages and pollution become more severe.
  
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• Insurers Warn About Car Sales Scam on Craigslist

  08-05-2015 16:26
  
  An insurance industry-backed crime watch group is warning about an organized auto sales scam involving the popular online market place, Craigslist. Working with law enforcement agencies in the Chicago area and across the Midwest, the National Insurance Crime Bureau (NICB) …
  The article Insurers Warn About Car Sales Scam on Craigslist appeared first on Insurance Journal.
  
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• Employment in U.S. rebounds after bigger March setback

  08-05-2015 16:25
  Payrolls rebounded in April following an even bigger setback a month earlier than previously estimated, a sign companies are confident the U.S. economy will reboot after stagnating early this year.
  
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• FEMA to Ask Sandy Homeowners If They Want to Reopen Claims

  08-05-2015 16:13
  
  Homeowners insured through the National Flood Insurance Program who think they were shortchanged for Superstorm Sandy damage are getting another chance for reimbursement. Rep. Chris Smith of New Jersey says the Federal Emergency Management Agency will begin asking whether they …
  The article FEMA to Ask Sandy Homeowners If They Want to Reopen Claims appeared first on Insurance Journal.
  
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• 5 critical factors affecting hoarding claims

  08-05-2015 16:08
  These complex claims involve dynamics that require special insight and handling.
  
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• Copyright Claim Against Led Zeppelin’s ‘Stairway to Heaven’ Moved to California

  08-05-2015 15:29
  
  A lawsuit claiming that Stairway to Heaven was filched from an obscure song by the band Spirit has survived its first legal challenge. The Philadelphia judge in the copyright infringement case against Led Zeppelin ruled yesterday that the suit shouldn’t be …
  The article Copyright Claim Against Led Zeppelin’s ‘Stairway to Heaven’ Moved to California appeared first on Insurance Journal.
  
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• 8 steps to protect your insurance agency from disasters

  08-05-2015 15:29
  As part of National Small Business Week, the Insurance Institute for Business & Home Safety offers eight recommendations to help insurance agency owners get started on severe weather preparedness.
  
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• DuPont’s Teflon Spin-Off Plan Worries Neighbors of West Virginia Chemical Plant

  08-05-2015 15:09
  
  DuPont Co.’s plan to spin off its Teflon unit is spurring concern on the West Virginia-Ohio border that the new company won’t cover medical payments for residents sickened by a chemical long-used at the production plant. In 2004, as a …
  The article DuPont’s Teflon Spin-Off Plan Worries Neighbors of West Virginia Chemical Plant appeared first on Insurance Journal.
  
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• UK Elects the Conservatives, but Question of EU Status Remains

  08-05-2015 15:09
  
  “Heavy Fog In Channel. Continent Cut Off.” That often quoted newspaper headline, which dates from at least the 1930’s, captures the ambivalent feelings the British have about their European neighbors. Despite seismic changes, there’s still a significant portion of the …
  The article UK Elects the Conservatives, but Question of EU Status Remains appeared first on Insurance Journal.
  
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• Update: North, South Carolina Coastline Warned on Subtropical Storm Ana

  08-05-2015 14:41
  
  The National Hurricane Center issued a Tropical Storm Warning from South Santee River, South Carolina to Surf City, North Carolina due to subtropical storm Ana. A Tropical Storm Watch remains in effect for Edisto Beach, South Carolina to south of …
  The article Update: North, South Carolina Coastline Warned on Subtropical Storm Ana appeared first on Insurance Journal.
  
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• Tropical Storm Watch in Effect for North, South Carolina Coastline

  08-05-2015 14:41
  
  The National Hurricane Center has issued a Tropical Storm Watch this morning for Edisto Beach, South Carolina to Cape Lookout, North Carolina die to newly-formed subtropical storm Ana. A tropical storm watch means that tropical storm conditions are possible within …
  The article Tropical Storm Watch in Effect for North, South Carolina Coastline appeared first on Insurance Journal.
  
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• Uber submits bid of up to $3 billion for Nokia maps, NYT reports

  08-05-2015 14:40
  Uber has submitted a bid for HERE, Nokia Oyj’s maps business, for as much as $3 billion, the New York Times reported, citing people familiar with the matter.
  
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• Here's What Traffic Tickets Actually Do to Your Auto Insurance Costs - MainStreet

  08-05-2015 14:34 via mainstreet.com
  
  MainStreet
  Here's What Traffic Tickets Actually Do to Your Auto Insurance Costs
  MainStreet
  NEW YORK (MainStreet) – Getting a traffic ticket isn't great under any circumstance, but your insurance company thinks you should be sweating some offenses more than others. The Insurance Information Institute notes that spending on auto insurance has ...and more »
  
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• Punitive damages and taxes

  08-05-2015 14:25
  Failure to properly advise a plaintiff seeking punitive damages about the tax consequences of success can result in claims of legal malpractice.
  
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• This spring, focus on growth and renewals

  08-05-2015 14:24
  Follow up with your clients: Respondents to a Chubb survey say they failed to buy key coverages because they thought they already had it.
  
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• U.S. Seeks Dismissal of MetLife Suit Challenging Systemic Designation

  08-05-2015 12:41
  
  MetLife Inc.’s lawsuit challenging its designation by regulators as critical to the economy should be thrown out, U.S. Justice Department lawyers said without making public their arguments to the judge. MetLife on January 13 became the first nonbank to challenge …
  The article U.S. Seeks Dismissal of MetLife Suit Challenging Systemic Designation appeared first on Insurance Journal.
  
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• States where car insurance is cheapest - MarketWatch

  08-05-2015 12:00 via marketwatch.com
  
  MarketWatch
  States where car insurance is cheapest
  MarketWatch
  The Subaru WRX STI has always been notoriously expensive to insure. Switching to four- and five-door versions helped. By. JakeLingeman. What's going on in Michigan? The state's car insurance rates are 136% higher than the national average. 136%! Sure ...
  
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• AXA ART Makes Executive Changes; CFO Joins Board

  08-05-2015 11:49
  
  AXA ART Versicherung AG announced shifts in the roles of its global executive management team, including the addition of a Chief Financial Officer at the executive board level. The announcement said the current CFO, Jean Gazancon, will return to the …
  The article AXA ART Makes Executive Changes; CFO Joins Board appeared first on Insurance Journal.
  
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• Third Point Re Reports Q1 Net Income of $50.5M, Up From $39.8M in Q1 2014

  08-05-2015 11:43
  
  Bermuda-based Third Point Reinsurance Ltd. reported first quarter net income of $50.5 million, or $0.47 per diluted common share, compared with net income of $39.8 million, or $0.37 per diluted common share, for the first quarter of 2014, an increase of 26.9 percent. For the three months …
  The article Third Point Re Reports Q1 Net Income of $50.5M, Up From $39.8M in Q1 2014 appeared first on Insurance Journal.
  
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• Nepal Quake Impact ‘Minimal on Global Reinsurers;’ Locally Severe: A.M. Best

  08-05-2015 11:20
  
  A.M. Best’s analysis of the damages caused by the earthquake that struck Nepal on April 25, 2015, describes the “significant property damages and fatalities in the Himalayan country.” However, no accurate assessment of then insured losses has yet been completed …
  The article Nepal Quake Impact ‘Minimal on Global Reinsurers;’ Locally Severe: A.M. Best appeared first on Insurance Journal.
  
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• Beazley Reports Q1 Premiums Up 6% to $546 Million

  08-05-2015 11:19
  
  Beazley plc reported that first quarter premiums grew by 6 percent to $546 million, compared to $516 million in 2014. Beazley’s largest division, specialty lines, wrote $226 million during the first quarter, which is an increase of 19 percent compared …
  The article Beazley Reports Q1 Premiums Up 6% to $546 Million appeared first on Insurance Journal.
  
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• More Market Pressures; Reinsurance Capital at $425 Bn: Willis Re Report

  08-05-2015 11:13
  
  Willis Re’s latest Reinsurance Market Report notes that the “growth in global capital dedicated to reinsurance continues to exacerbate the challenge of oversupply, placing further pressure on already weak rating conditions for the remainder of 2015.” The report – based …
  The article More Market Pressures; Reinsurance Capital at $425 Bn: Willis Re Report appeared first on Insurance Journal.
  
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• Nepal Quake Biggest April Disaster: Aon Benfield/Impact Forecasting

  08-05-2015 11:07
  
  Aon Benfield’s Impact Forecasting’s monthly catastrophe report for April highlights the catastrophic damage throughout Nepal, India, China, and Bangladesh, caused by the magnitude-7.8 earthquake that struck Nepal during the month. The quake killed as many as 10,000 people and injured …
  The article Nepal Quake Biggest April Disaster: Aon Benfield/Impact Forecasting appeared first on Insurance Journal.
  
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• China Taiping Insurance Stock Jumps After Tech Moguls Join $1.7B Share Sale

  08-05-2015 11:00
  
  China Taiping Insurance Holdings Co. jumped the most in more than six years after people with knowledge of the matter said China’s two richest technology moguls joined its $1.7 billion share sale. Taiping advanced 16 percent to HK$32.80 at 11:02 a.m. in …
  The article China Taiping Insurance Stock Jumps After Tech Moguls Join $1.7B Share Sale appeared first on Insurance Journal.
  
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• Insurance Doesn't Eliminate Risk for Top College Athletes Who Forgo Draft - New York Times

  08-05-2015 11:00 via nytimes.com
  New York Times
  Insurance Doesn't Eliminate Risk for Top College Athletes Who Forgo Draft
  New York Times
  A year ago, Cedric Ogbuehi had good reason to think that he would be signing a contract in the neighborhood of $20 million — the result of being a top-five N.F.L. draft pick. Entering his senior year at Texas A&M, Ogbuehi was set to move from right ...
  
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