Insurance news

• Life insurance refresher course- part I - AL.com

  13-05-2015 23:24 via al.com
  
  Life insurance refresher course- part I
  AL.com
  New Stewart Welch.jpg Stewart Welch Founder of The Welch Group, which specializes in fee-only investment advice to families throughout the country. Contact welchgroup.com. Life insurance is one of the most complicated of financial products for ...
  
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• Insurance World Draws Even More Private-Equity Cash - Wall Street Journal (blog)

  13-05-2015 23:02 via blogs.wsj.com
  
  Insurance World Draws Even More Private-Equity Cash
  Wall Street Journal (blog)
  More private-equity money is headed for the insurance space. San Francisco-based Golden Gate Capital is committing about $750 million to form a combination insurance/reinsurance company, Nassau Reinsurance Group, alongside two insurance-industry ...
  Golden Gate backs $750mn life start-upThe Insurance Insider (subscription)all 7 news articles »
  
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• Insurance firm overcharged customers, must repay $42000 - Indianapolis Star

  13-05-2015 22:51 via indystar.com
  
  Indianapolis Star
  Insurance firm overcharged customers, must repay $42000
  Indianapolis Star
  The Indiana Department of Insurance has ordered American Homeland Title Agency Inc. to refund a total of $42,202 to more than 100 customers after an audit revealed they were being overcharged. A review of 166 of the Cincinnati-based title insurance ...
  
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• New York title insurance rates slashed; scandal-plagued state senator quits - Inman.com

  13-05-2015 21:55 via inman.com
  
  New York title insurance rates slashed; scandal-plagued state senator quits
  Inman.com
  Two seemingly unrelated events this week impacting the title insurance industry in New York highlight the efforts state lawmakers and regulators are taking to rid the industry of illegal practices and bad actors. First, following through on its ...and more »
  
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• Amtrak train in fatal derailment said to be traveling 100 MPH

  13-05-2015 21:21
  The New York-bound Amtrak train that derailed in Philadelphia, killing seven and injuring more than 200, was traveling at about 100 miles per hour, twice the speed limit, according to an official briefed on the data.
  
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• Inspect your deck: 5 inspection and safety tips for homeowners

  13-05-2015 21:14
  May is National Deck Month, a nice annual reminder that a deck inspection is a smart idea.
  
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• Brethren Mutual in Maryland Announces 5 Appointments

  13-05-2015 20:45
  
  The Brethren Mutual Insurance Company in Hagerstown, Maryland, announced the following new hires and promotions. Jeff Borkowski joined Brethren Mutual as vice president of underwriting and marketing. He oversees the company’s Personal, Commercial and Farm Underwriting Departments, in addition to …
  The article Brethren Mutual in Maryland Announces 5 Appointments appeared first on Insurance Journal.
  
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• Improving Retirement Outcomes with Investments, Life Insurance, and Income ... - Forbes

  13-05-2015 20:41 via forbes.com
  
  Improving Retirement Outcomes with Investments, Life Insurance, and Income ...
  Forbes
  Financial goals for retirement generally include meeting spending goals sustainably, while also preserving assets for contingencies and legacy. The financial services industry offers different tools for meeting these objectives, ranging from investment ...
  
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• Businesses beware: Social engineering fraud could cost you millions

  13-05-2015 19:39
  A new type of fraud targets companies with international offices and suppliers.
  
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• Court: Debris Removal From Insureds' Land Not Covered by Flood Insurance - Insurance Journal

  13-05-2015 19:08 via insurancejournal.com
  
  Court: Debris Removal From Insureds' Land Not Covered by Flood Insurance
  Insurance Journal
  A federal appeals court in Philadelphia recently ruled that a standard flood insurance policy from the National Flood Insurance Program does not cover the cost of cleaning up storm-generated debris not owned by the homeowners from their land. The U.S. ...
  
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• Louisiana State Police Charge Firefighter in Insurance Fraud Investigation

  13-05-2015 19:00
  
  Following an investigation into a complaint received from the Shreveport City Attorney’s Office, the Louisiana State Police Insurance Fraud and Auto Theft Unit charged a firefighter with insurance fraud. Michael Keel of Keithville, a firefighter with the Shreveport Fire Department, …
  The article Louisiana State Police Charge Firefighter in Insurance Fraud Investigation appeared first on Insurance Journal.
  
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• Flood Insurance Does Not Cover Debris Removal From Insureds’ Land

  13-05-2015 18:59
  
  A federal appeals court in Philadelphia recently ruled that a standard flood insurance policy from the National Flood Insurance Program does not cover the cost of cleaning up storm-generated debris not owned by the homeowners from their land. The U.S. …
  The article Flood Insurance Does Not Cover Debris Removal From Insureds’ Land appeared first on Insurance Journal.
  
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• Court: Debris Removal From Insureds’ Land Not Covered by Flood Insurance

  13-05-2015 18:59
  
  A federal appeals court in Philadelphia recently ruled that a standard flood insurance policy from the National Flood Insurance Program does not cover the cost of cleaning up debris not owned by the homeowners from their land after Superstorm Sandy. …
  The article Court: Debris Removal From Insureds’ Land Not Covered by Flood Insurance appeared first on Insurance Journal.
  
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• Texas Construction Safety Group Gets $2.1M Dividend from Insurer

  13-05-2015 18:30
  
  Workers compensation insurer, Texas Mutual Insurance Co., recently awarded a dividend of $2,159,751 to the Texas Construction Association safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and therefore keeping …
  The article Texas Construction Safety Group Gets $2.1M Dividend from Insurer appeared first on Insurance Journal.
  
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• Iowa Jury Awards Injured Ex-High School Football Player $1M

  13-05-2015 18:23
  
  A jury in Iowa has awarded a former Bedford High School football player almost $1 million in a case involving the school’s response to head injuries. The Des Moines Register reports 18-year-old Kacey Strough had a pre-existing medical condition known …
  The article Iowa Jury Awards Injured Ex-High School Football Player $1M appeared first on Insurance Journal.
  
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• Wisconsin Dairy Co-Op Cited in Grain Bin Death, Fined $193K

  13-05-2015 18:00
  
  A federal worker safety agency is proposing a $193,000 fine against a Wisconsin dairy co-op after a man died in a grain bin in November. The Occupational Safety and Health Administration on May 11 announced it was citing Burnett Dairy …
  The article Wisconsin Dairy Co-Op Cited in Grain Bin Death, Fined $193K appeared first on Insurance Journal.
  
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• Travelers Opens $200M Data Center in Nebraska

  13-05-2015 17:55
  
  A New-York based insurance firm has opened a $200 million data center in Nebraska’s Sarpy County, the latest of such facilities built in the area for companies like Fidelity, Yahoo, Cabela’s and Cosentry. Gov. Pete Ricketts and other officials celebrated …
  The article Travelers Opens $200M Data Center in Nebraska appeared first on Insurance Journal.
  
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• Iowa Twister Was EF1: Weather Service

  13-05-2015 17:53
  
  National Weather Service crews were dispatched to assess the damage caused by a tornado that tore through Lake City, Iowa, uprooting trees, ripping apart the roof of a high school and leaving shreds of pink insulation strewn throughout the streets, …
  The article Iowa Twister Was EF1: Weather Service appeared first on Insurance Journal.
  
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• The One Thing You Should Do To Snag Cheaper Car Insurance - Forbes

  13-05-2015 17:51 via forbes.com
  
  The One Thing You Should Do To Snag Cheaper Car Insurance
  Forbes
  There's a trick to saving hundreds on car insurance that most people aren't doing. It's taking the time to ask. Sure, it's a pain to call up your car insurance company and haggle over prices, when you'd probably rather be doing anything else. Yet, that ...and more »
  
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• Disasters Declared in Arkansas, Texas Following Severe Weather

  13-05-2015 17:47
  
  Texas Gov. Greg Abbott has declared a state of disaster in counties hit in recent days by severe weather that’s included tornadoes, thunderstorms and heavy rains that brought flooding. Likewise, Arkansas Gov. Asa Hutchinson issued a disaster proclamation for 10 …
  The article Disasters Declared in Arkansas, Texas Following Severe Weather appeared first on Insurance Journal.
  
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• Disaster Declared in Arkansas, Texas Following Severe Weather

  13-05-2015 17:47
  
  Texas Gov. Greg Abbott has declared a state of disaster in counties hit in recent days by severe weather that’s included tornadoes, thunderstorms and heavy rains that brought flooding. Likewise, Arkansas Gov. Asa Hutchinson issued a disaster proclamation for 10 …
  The article Disaster Declared in Arkansas, Texas Following Severe Weather appeared first on Insurance Journal.
  
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• Selective Insurance in New Jersey Announces Senior Officer Appointments

  13-05-2015 17:43
  
  Selective Insurance Group Inc. in Branchville, New Jersey, announced the following appointments by its subsidiary, Selective Insurance Company of America. George Neale to executive vice president, chief claims officer. Neale joined Selective in April 2013. Prior to that, he served …
  The article Selective Insurance in New Jersey Announces Senior Officer Appointments appeared first on Insurance Journal.
  
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• New Law in Oklahoma Sets Requirements for Public Adjusters

  13-05-2015 17:40
  
  Oklahoma’s governor has signed legislation proposed by the state insurance department that specifies certain required and prohibited actions of public adjusters. According to Insurance Commissioner John D. Doak, Senate Bill 439, signed by Gov. Mary Fallin aims to protect Oklahoma storm …
  The article New Law in Oklahoma Sets Requirements for Public Adjusters appeared first on Insurance Journal.
  
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• Market for Drone Insurance Expected to Take Off in Next 5 Years - Insurance Journal

  13-05-2015 17:23 via insurancejournal.com
  
  Insurance Journal
  Market for Drone Insurance Expected to Take Off in Next 5 Years
  Insurance Journal
  The use of drones could become common practice for almost 40 percent of businesses in fewer than five years, according to corporate risk managers. Those same risk managers say they will buy drone insurance even if it's not mandated. Munich Re asked ...and more »
  
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• Market for Drone Insurance Expected to Take Off in Next 5 Years

  13-05-2015 17:14
  
  The use of drones could become common practice for almost 40 percent of businesses in fewer than five years, according to corporate risk managers. Those same risk managers say they will buy drone insurance even if it’s not mandated. Munich …
  The article Market for Drone Insurance Expected to Take Off in Next 5 Years appeared first on Insurance Journal.
  
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• Idaho College Wants Judge to Reject Student’s $1.5M Vaccine Lawsuit

  13-05-2015 17:05
  
  A Boise State University student is suing school officials in federal court because he contends they discriminated against him by refusing to give him a meningitis vaccine designed for younger adults. Christopher Burdge doesn’t list his age in the lawsuit …
  The article Idaho College Wants Judge to Reject Student’s $1.5M Vaccine Lawsuit appeared first on Insurance Journal.
  
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• Life Insurance to Help Heirs Pay Bills - Kiplinger Personal Finance

  13-05-2015 17:04 via kiplinger.com
  
  Kiplinger Personal Finance
  Life Insurance to Help Heirs Pay Bills
  Kiplinger Personal Finance
  Using required IRA distributions to buy life insurance can provide heirs a tax-free windfall, but the strategy isn't for everyone. By Rachel L. SheedySee my bio, plus links to all my recent stories., From Kiplinger's Retirement Report, May 2015 ...
  
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• Washington Hospital Joins “Superbug” Suit Against Scope Maker

  13-05-2015 17:03
  
  A Seattle, Wash. hospital has joined a lawsuit against the manufacturer of endoscopy medical scopes linked to a “superbug” outbreak at the medical center, claiming the company, Olympus America Inc., put patients lives at risk by failing to disclose design …
  The article Washington Hospital Joins “Superbug” Suit Against Scope Maker appeared first on Insurance Journal.
  
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• How to maximize the value of your agency

  13-05-2015 17:01
  Before selling your agency, increase the cash flow available to the buyer
  
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• Around the industry: May 13, 2015

  13-05-2015 16:47
  News from RMS, Chubb, Munich Re, U.S. captive states and more.
  
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• 27 safety tips to reduce business travel risks

  13-05-2015 15:47
  From everyday hazards to worst-case scenarios, the potential for peril associated with multinational business travel is high.
  
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• Marine Underwriters Re-Elect Travelers’ Hoehn as Chair

  13-05-2015 15:44
  
  The  Inland Marine Underwriters Association (IMUA) recently elected its slate of officers for 2015. Michelle Hoehn, The Travelers Group, was re-elected as IMUA chairperson. Also re-elected were Deputy Chairperson William Rosa, XL Reinsurance, and L. Pat Stoik, Chubb Group, as …
  The article Marine Underwriters Re-Elect Travelers’ Hoehn as Chair appeared first on Insurance Journal.
  
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• IronPro Names CNA’s Reilly as Senior VP of Mergers Unit

  13-05-2015 15:35
  
  IronPro, the U.S. professional and management liability unit of Ironshore Inc., has named Mark Reilly to the position of senior vice president, Mergers & Acquisitions. Reilly will be responsible for building the IronPro Private Equity Financial Lines practice by developing …
  The article IronPro Names CNA’s Reilly as Senior VP of Mergers Unit appeared first on Insurance Journal.
  
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• ACE: There is a global need for environmental and pollution protection insurance

  13-05-2015 15:09
  Most construction contracts require contractors to have environmental, pollution coverage, in U.S. and abroad.
  
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• Six Killed as NYC-Bound Amtrak Train Derails in Philadelphia

  13-05-2015 14:54
  
  Investigators are trying to find out what caused a New York-bound Amtrak train to derail in Philadelphia, killing six, injuring scores and closing part of the busiest passenger rail corridor in the U.S. Northeast Regional Train 188, which originated in …
  The article Six Killed as NYC-Bound Amtrak Train Derails in Philadelphia appeared first on Insurance Journal.
  
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• 6 Killed, Scores Injured as Amtrak Train Derails in Philadelphia

  13-05-2015 14:54
  
  Investigators are trying to find out what caused a New York-bound Amtrak train to derail in Philadelphia, killing six, injuring scores and closing part of the busiest passenger rail corridor in the U.S. Northeast Regional Train 188, which originated in …
  The article 6 Killed, Scores Injured as Amtrak Train Derails in Philadelphia appeared first on Insurance Journal.
  
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• 6 Killed as NYC-Bound Amtrak Train Derails in Philadelphia

  13-05-2015 14:54
  
  Investigators are trying to find out what caused a New York-bound Amtrak train to derail in Philadelphia, killing six, injuring scores and closing part of the busiest passenger rail corridor in the U.S. Northeast Regional Train 188, which originated in …
  The article 6 Killed as NYC-Bound Amtrak Train Derails in Philadelphia appeared first on Insurance Journal.
  
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• Understanding litigation and court decisions: Part 5

  13-05-2015 14:34
  It may seem like putting the cart before the horse to discuss appellate court systems before exploring litigation mechanics, but if the cart is appellate decisions that become law, then the horse has to observe the cart if it is to make correct decisions.
  
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• Toyota, Nissan, Honda Expand Global Recall Due to Faulty Takata Air Bags

  13-05-2015 12:28
  
  Japan’s three biggest carmakers said on Wednesday they would expand a huge global recall triggered by potentially fatal air bags made by Takata Corp., saying they were taking back millions of vehicles worldwide for investigation. Toyota Motor Corp. and Nissan …
  The article Toyota, Nissan, Honda Expand Global Recall Due to Faulty Takata Air Bags appeared first on Insurance Journal.
  
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• Air-bag crisis deepens with Toyota, Nissan expanding recalls

  13-05-2015 12:15
  The safety crisis involving faulty air bags that shoot shrapnel deepened after Toyota and Nissan added more than 6 million vehicles to their global recalls, with Honda planning to expand a call back.
  
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• 'An absolute, disastrous mess': Passenger train derails in Philadelphia, killing 5

  13-05-2015 12:00
  At least five people were killed and dozens of others injured when an Amtrak train headed to New York City derailed in Philadelphia.
  
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• Use of Captives Rises for Non-Traditional Risks: Marsh Benchmarking Report

  13-05-2015 10:25
  
  Captive insurance vehicles are increasingly being used by businesses to provide cover for non-traditional risks, according to a new benchmarking report published by Marsh. Marsh’s report, “The World of Captives: Growth and Opportunities Without Borders,” states that the number of …
  The article Use of Captives Rises for Non-Traditional Risks: Marsh Benchmarking Report appeared first on Insurance Journal.
  
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• RSA Appoints McKenzie as COO for UK, Western Europe 

  13-05-2015 10:02
  
  London-based RSA has appointed Darren McKenzie to the newly created role of chief operating officer for the UK & Western Europe. Joining on July 1, McKenzie will report directly to Steve Lewis, chief executive for the UK & Western Europe, …
  The article RSA Appoints McKenzie as COO for UK, Western Europe  appeared first on Insurance Journal.
  
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• Richmond Insurance Agency of Kentucky joins Keystone Insurers Group

  13-05-2015 10:00
  
  Keystone Insurers Group is continuing its expansion in Kentucky with the addition of a new franchise partner in Maysville. Richmond Insurance Agency of Kentucky is the 25th independent insurance agency in the state to join Keystone’s growing group of partners. …
  The article Richmond Insurance Agency of Kentucky joins Keystone Insurers Group appeared first on Insurance Journal.
  
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• Jury: Starbucks Not Liable in North Carolina Officer Coffee Burn Suit

  13-05-2015 10:00
  
  A jury in North Carolina ruled this week that Starbucks is not liable for damages after a Raleigh, N.C. police officer said he suffered third-degree burns from a cup of coffee spilling in his lap three years ago. Lt. Matt …
  The article Jury: Starbucks Not Liable in North Carolina Officer Coffee Burn Suit appeared first on Insurance Journal.
  
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• State Farm Signs on as ‘Safety Patrol’ Sponsor of North Carolina Motorist Program

  13-05-2015 10:00
  
  North Carolina’s initiative to help stranded roadside motorists for free now has a “good neighbor” supporting it. The state Department of Transportation announced this week that it has signed a four-year sponsorship agreement with insurance giant State Farm for its …
  The article State Farm Signs on as ‘Safety Patrol’ Sponsor of North Carolina Motorist Program appeared first on Insurance Journal.
  
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• Boat Explosion at Tennessee Marina Leaves Woman Injured

  13-05-2015 10:00
  
  A woman is in the hospital being treated for burns after a boat exploded at the gas dock of a west Tennessee marina. Multiple news outlets report the explosion happened Sunday morning at Concord Marina in west Knoxville. The marina …
  The article Boat Explosion at Tennessee Marina Leaves Woman Injured appeared first on Insurance Journal.
  
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• NORCAL Expands Medical Professional Liability Coverage to Oregon

  13-05-2015 10:00
  
  NORCAL Mutual Insurance Co., a medical professional liability insurance provider, is now offering coverage to physicians and healthcare professionals in Oregon with protection for certain data breaches, cyber liability and risks related to administrative activities, as part of its strategic …
  The article NORCAL Expands Medical Professional Liability Coverage to Oregon appeared first on Insurance Journal.
  
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• Allianz Global Corporate & Specialty Names Kadow as Chief Agent for Canada

  13-05-2015 09:44
  
  Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), has appointed Ulrich Kadow as chief agent for Canada effective immediately. Based in Toronto, Kadow will lead AGCS’s commercial insurance business in Canada and will report to Arthur Moossmann, president and …
  The article Allianz Global Corporate & Specialty Names Kadow as Chief Agent for Canada appeared first on Insurance Journal.
  
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• Italy’s Agnellis: Billionaire Family Behind PartnerRe Takeover Battle

  13-05-2015 08:43
  
  The billionaire Agnellis will become more interested in hurricane damage and less dependent on sales of Alfa Romeo sports cars and CNH tractors if their $6.8 billion bid for reinsurer PartnerRe Ltd. is successful. PartnerRe, which assumes risks for natural …
  The article Italy’s Agnellis: Billionaire Family Behind PartnerRe Takeover Battle appeared first on Insurance Journal.
  
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