Insurance news

• Schnitzer to Succeed Fishman as CEO of Travelers

  04-08-2015 23:08
  
  The Travelers Companies Inc. today announced that Alan D. Schnitzer will succeed Jay S. Fishman as chief executive officer, effective December 1, 2015, In a letter to employees, Fishman disclosed that his neuromuscular disease, which he disclosed last November, has …
  The article Schnitzer to Succeed Fishman as CEO of Travelers appeared first on Insurance Journal.
  
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• Schnitzer to Become CEO of Travelers as Fishman Steps Down

  04-08-2015 23:08
  
  The Travelers Companies Inc. today announced that Alan D. Schnitzer will succeed Jay S. Fishman as chief executive officer, effective December 1, 2015, In a letter to employees, Fishman disclosed that his neuromuscular disease, which he disclosed last November, has …
  The article Schnitzer to Become CEO of Travelers as Fishman Steps Down appeared first on Insurance Journal.
  
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• MEMIC Hires Hartt as Agency Services Administrator in Maine

  04-08-2015 22:21
  
  The MEMIC Group, a workers’ compensation insurer based in Portland, Maine, hired Marcia Hartt as agency services administrator to enhance MEMIC’s relationship with insurance agencies. She is based in MEMIC’s Portland headquarters office. Hartt began her career in insurance in …
  The article MEMIC Hires Hartt as Agency Services Administrator in Maine appeared first on Insurance Journal.
  
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• Consumer Reports: Car-insurance secrets revealed - 9NEWS.com

  04-08-2015 22:06 via 9news.com
  
  9NEWS.com
  Consumer Reports: Car-insurance secrets revealed
  9NEWS.com
  CONSUMER REPORTS - Car insurance commercials tout low rates but don't tell you just how the companies set those rates. Consumer Reports' two-year investigation found that many major insurance companies base prices in part on a hidden credit score ...
  Reports: Safe driving doesn't guarantee low insurance rateswivb.com
  Inertia can cost on auto insuranceBankrate.com
  Here's Why Your Car Insurance Premium Is So
  
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• NCCI Proposes Decrease for Workers’ Comp Loss Costs in Maryland

  04-08-2015 21:02
  
  The National Council on Compensation Insurance (NCCI) recently delivered a workers’ compensation loss cost filing to the Maryland Insurance Administration. NCCI stated in its July 28 filing that based on its review of the most recently available data, it is …
  The article NCCI Proposes Decrease for Workers’ Comp Loss Costs in Maryland appeared first on Insurance Journal.
  
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• Proposal: Newtown Victims’ Families Would Split $1.5M From Homeowner Policy

  04-08-2015 21:00
  
  The families of more than a dozen victims of the Newtown school shooting rampage in Connecticut would split $1.5 million under proposed settlements of lawsuits against the estate of the gunman’s mother. The lawsuits filed this year accuse Nancy Lanza …
  The article Proposal: Newtown Victims’ Families Would Split $1.5M From Homeowner Policy appeared first on Insurance Journal.
  
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• Risk Innovations Acquires Columbia Commercial General Agency

  04-08-2015 20:30
  
  Atlanta, Ga.-based Risk Innovations LLC has acquired Columbia Commercial General Agency (CCGA), headquartered in Columbia, Mo. The deal was effective Aug. 1, 2015. The acquired business will continue to operate in Columbia under the Risk Innovations name and management team. Risk …
  The article Risk Innovations Acquires Columbia Commercial General Agency appeared first on Insurance Journal.
  
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• Texas Seeks Comment on Rules for Changes to Windstorm Insurer

  04-08-2015 20:24
  
  The Texas Department of Insurance is seeking public comment on drafts of rules for implementing legislation that alters funding mechanisms for the state’s property insurer of last resort for wind and hail along the Texas coast. TDI has posted on …
  The article Texas Seeks Comment on Rules for Changes to Windstorm Insurer appeared first on Insurance Journal.
  
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• Midwest Headed for Economic Slowdown, July Survey Suggests

  04-08-2015 18:49
  
  Slumping numbers in a July survey suggest there will be slow to no economic growth over the next three to six months in nine Midwest and Plains states, according to a report issued Aug. 3. The overall Mid-America Business Conditions …
  The article Midwest Headed for Economic Slowdown, July Survey Suggests appeared first on Insurance Journal.
  
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• Virginia’s Roanoke Valley Considers Insurer-Funded Collision Reporting Center

  04-08-2015 18:49
  
  Police in four Roanoke Valley localities in Virginia have proposed adopting a Canadian method of reporting car crashes that reduces police involvement. The Roanoke Times reports that if the governments of Roanoke, Salem, Roanoke County and Vinton approve the one-year …
  The article Virginia’s Roanoke Valley Considers Insurer-Funded Collision Reporting Center appeared first on Insurance Journal.
  
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• Va.’s Roanoke Valley Considers Insurer-Funded Collision Reporting Center

  04-08-2015 18:49
  
  Police in four Roanoke Valley localities in Virginia have proposed adopting a Canadian method of reporting car crashes that reduces police involvement. The Roanoke Times reports that if the governments of Roanoke, Salem, Roanoke County and Vinton approve the one-year …
  The article Va.’s Roanoke Valley Considers Insurer-Funded Collision Reporting Center appeared first on Insurance Journal.
  
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• TUMI Launches Dump Truck Insurance Program

  04-08-2015 18:49
  
  Trinity Underwriting Managers, Inc. (TUMI), a Georgia-based program administrator, has established a relationship with an ‘A’ rated carrier as well as an ‘A++’ rated reinsurer to underwrite insurance for dump truck operators and other aggregate haulers. Coverages include auto liability, …
  The article TUMI Launches Dump Truck Insurance Program appeared first on Insurance Journal.
  
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• Hub International Acquires BW Insurance Agency

  04-08-2015 18:47
  
  Hub International Limited (Hub), a global insurance brokerage based in Chicago, has acquired BW Insurance Agency Inc. (BWIA) a wholly-owned subsidiary of Bank of the West. BWIA is a multi-line property and casualty, personal and employee benefits insurance brokerage. Terms of …
  The article Hub International Acquires BW Insurance Agency appeared first on Insurance Journal.
  
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• Hub International Acquires BW Insurance

  04-08-2015 18:47
  
  Hub International Limited (Hub), a global insurance brokerage based in Chicago, has acquired BW Insurance Agency Inc. (BWIA) a wholly-owned subsidiary of Bank of the West. BWIA is a multi-line property and casualty, personal and employee benefits insurance brokerage. Terms of …
  The article Hub International Acquires BW Insurance appeared first on Insurance Journal.
  
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• GEICO Expands Ridesharing Coverage to Pennsylvania

  04-08-2015 18:42
  
  After launching a new ridesharing product in Georgia, Virginia, Maryland and Texas earlier this year, GEICO is now expanding its ridesharing offering to drivers in Pennsylvania. New and existing drivers that have been approved to drive for Uber (UberX and …
  The article GEICO Expands Ridesharing Coverage to Pennsylvania appeared first on Insurance Journal.
  
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• Golf Carts on Roads Increasingly Common in Southern Illinois Cities

  04-08-2015 18:42
  
  A mode of transportation that took hold in retirement communities is becoming increasingly acceptable in some small southern Illinois cities. The (Carbondale) Southern Illinoisan reports that the Benton City Council will consider a proposal to allow golf carts on city …
  The article Golf Carts on Roads Increasingly Common in Southern Illinois Cities appeared first on Insurance Journal.
  
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• Hundreds of Entities Seek Share of Ohio Rock Salt Settlement

  04-08-2015 18:39
  
  Hundreds of local governments and other public entities are seeking a share of Ohio’s $11.5 million settlement with two rock salt producers that were accused of conspiring to drive up prices. The state alleged that Morton Salt Inc. and Cargill …
  The article Hundreds of Entities Seek Share of Ohio Rock Salt Settlement appeared first on Insurance Journal.
  
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• Louisiana Citizens Insurance Rebate Being Lowered

  04-08-2015 18:37
  
  Everyone in Louisiana who buys property insurance will lose 28 percent of a tax credit they can get for covering the debt of the state’s property insurer of last resort. In addition, the reduction is retroactive, meaning those who failed …
  The article Louisiana Citizens Insurance Rebate Being Lowered appeared first on Insurance Journal.
  
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• Texas Professional Insurance Agents Partners with EFG Cos.

  04-08-2015 18:35
  
  With the aim of helping member agents boost their revenues, Texas Professional Insurance Agents (PIA) is partnering with EFG Cos. to offer ancillary consumer protection products. Texas PIA selected the Simplicity Division of EFG Cos. to provide members with three …
  The article Texas Professional Insurance Agents Partners with EFG Cos. appeared first on Insurance Journal.
  
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• Main Street America to Offer Surety, Fidelity Bonds in Louisiana

  04-08-2015 18:27
  
  The Main Street America Group announced it has received regulatory approval from the Louisiana Department of Insurance to write commercial surety and fidelity bonds in the state. The business will be underwritten through the super-regional carrier’s NGM Insurance Co. This …
  The article Main Street America to Offer Surety, Fidelity Bonds in Louisiana appeared first on Insurance Journal.
  
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• McIntyre Joins Alliant in Southern California

  04-08-2015 18:17
  
  Alliant Insurance Services has named Patrick McIntyre the Alliant Americas division first vice president within the Sacramento, Calif. office. McIntyre will be responsible for the delivery of property/casualty and workers’ compensation programs to middle market companies. McIntyre has more than …
  The article McIntyre Joins Alliant in Southern California appeared first on Insurance Journal.
  
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• Study: Single drivers in Phoenix may pay more insurance than married drivers - azcentral.com

  04-08-2015 18:08 via azcentral.com
  
  azcentral.com
  Study: Single drivers in Phoenix may pay more insurance than married drivers
  azcentral.com
  Single, widowed and divorced drivers in Phoenix are likely to pay higher insurance rates than married drivers with identical driving records, according to a recent report from the Consumer Federation of America. Loading… Post to Facebook. Study ...and more »
  
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• Wet Weather Helps in Battling Massive California Wildfire

  04-08-2015 17:18
  
  Cooler, wetter weather helped crews make inroads Monday against a massive Northern California wildfire that tore through two dozen homes, threatened thousands more and forced 12,000 people to flee the flames. The largest blaze in drought-stricken California roughly tripled in size over the weekend …
  The article Wet Weather Helps in Battling Massive California Wildfire appeared first on Insurance Journal.
  
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• AIG Insurance Results Down in Q2; CEO Sees Opportunity in ACE-Chubb - Insurance Journal

  04-08-2015 17:16 via insurancejournal.com
  
  AIG Insurance Results Down in Q2; CEO Sees Opportunity in ACE-Chubb
  Insurance Journal
  American International Group Inc. (AIG) today reported net income of $1.8 billion for the quarter ended June 30, 2015, compared to $3.1 billion, for the second quarter of 2014. Second quarter net income declined primarily due to ongoing liability ...and more »
  
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• Cooler Conditions Help Firefighters Battle Southwest Oregon Wildfire

  04-08-2015 17:13
  
  Clouds and the end of triple-digit heat helped firefighters battling the Stouts wildfire in southwest Oregon. Fire spokesman Dave Wells says the blaze is only 3 percent contained, but crews made good progress on the fire lines and some evacuated …
  The article Cooler Conditions Help Firefighters Battle Southwest Oregon Wildfire appeared first on Insurance Journal.
  
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• Las Vegas-Area Water Park sued Over Boy’s Injuries

  04-08-2015 17:11
  
  The parents of a 6-year-old boy who was pulled from a wave pool at a Las Vegas-area water park have filed a lawsuit claiming that the boy now has severe neurological impairments. The lawsuit filed Tuesday in Clark County District …
  The article Las Vegas-Area Water Park sued Over Boy’s Injuries appeared first on Insurance Journal.
  
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• AIG Insurance Results Down in Q2; CEO Sees Opportunity in ACE-Chubb

  04-08-2015 16:46
  
  American International Group Inc. (AIG) today reported net income of $1.8 billion for the quarter ended June 30, 2015, compared to $3.1 billion, for the second quarter of 2014. Second quarter net income declined primarily due to ongoing liability management …
  The article AIG Insurance Results Down in Q2; CEO Sees Opportunity in ACE-Chubb appeared first on Insurance Journal.
  
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• AIG Insurance Results Down in Q2

  04-08-2015 16:46
  
  American International Group Inc. (AIG) today reported net income of $1.8 billion for the quarter ended June 30, 2015, compared to $3.1 billion, for the second quarter of 2014. Compared to the prior-year quarter, second quarter 2015 net income declined …
  The article AIG Insurance Results Down in Q2 appeared first on Insurance Journal.
  
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• Uber Driver Case Tests ‘Sharing Economy’ Business Model

  04-08-2015 16:04
  
  The most serious challenge to Uber Technologies Inc.’s “Be your own Boss” business model might also present an early test to the wider sharing economy as well as undermine its own $50 billion valuation. The immediate battle comes Thursday in …
  The article Uber Driver Case Tests ‘Sharing Economy’ Business Model appeared first on Insurance Journal.
  
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• Insurers Face Risks of Declining Customer Loyalty, Tech-Savvy Firms: Accenture

  04-08-2015 15:26
  
  Insurers are not keeping up with rising customer expectations and will need to offer more innovative products and ally with some nontraditional partners to catch up and to keep more digital-savvy firms from stealing their business, a report from consulting …
  The article Insurers Face Risks of Declining Customer Loyalty, Tech-Savvy Firms: Accenture appeared first on Insurance Journal.
  
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• Insurers at Risk of Declining Customer Loyalty, Tech-Savvy Firms: Accenture

  04-08-2015 15:26
  
  Insurers are not keeping up with rising customer expectations and will need to offer more innovative products and ally with some nontraditional partners to catch up and to keep more digital-savvy firms from stealing their business, a report from consulting …
  The article Insurers at Risk of Declining Customer Loyalty, Tech-Savvy Firms: Accenture appeared first on Insurance Journal.
  
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• Lloyd’s Market Association Appoints Curtis as Director of Finance and Risk

  04-08-2015 13:58
  
  Ken Curtis has been appointed as director of finance and risk for the London-based Lloyd’s Market Association, which represents the interests of the Lloyd’s underwriting community. He formerly was group chief financial officer of Chaucer Holdings plc and managing director …
  The article Lloyd’s Market Association Appoints Curtis as Director of Finance and Risk appeared first on Insurance Journal.
  
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• Berkshire Hathaway Specialty Enters Marine Insurance Market in Australia & N.Z.

  04-08-2015 12:39
  
  Berkshire Hathaway Specialty Enters Marine Insurance Market in Australia & N.Z Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it has begun underwriting Marine Insurance in Australia and New Zealand, and appointed Dimitry Zilberud, Head of Marine, and Mark Dixon, …
  The article Berkshire Hathaway Specialty Enters Marine Insurance Market in Australia & N.Z. appeared first on Insurance Journal.
  
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• AXA’s First-Half 2015 Profits up 2.3% on U.S., French Life Insurance Gains

  04-08-2015 11:26
  
  French insurer AXA SA said first-half profit rose 2.3 percent, helped by higher life-insurance earnings in the U.S. and France. Net income at France’s biggest insurer climbed to €3.08 billion ($3.37 billion) from €3.01 billion [$3.30 billion] a year earlier, …
  The article AXA’s First-Half 2015 Profits up 2.3% on U.S., French Life Insurance Gains appeared first on Insurance Journal.
  
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• XL Group Posts Q2, 1st HY Earnings; Boosted by Catlin Acquisition

  04-08-2015 10:56
  
  XL Group’s second quarter report showed a net decrease in operating income to $245.8, compared to $279.6 million in Q2 2014. For the first half of 2015 XL reported operating earnings of $440 million, down from $518 million in 2014. …
  The article XL Group Posts Q2, 1st HY Earnings; Boosted by Catlin Acquisition appeared first on Insurance Journal.
  
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• Florida-Based Gulfstream P&C Names Block as CFO, Treasurer

  04-08-2015 10:00
  
  Gulfstream Property and Casualty Insurance Co., a regional property carrier providing homeowners, condominium, renters, dwelling fire and flood coverage with operations in five states, has announced the appointment of David N. Block as chief financial officer and treasurer. Block is …
  The article Florida-Based Gulfstream P&C Names Block as CFO, Treasurer appeared first on Insurance Journal.
  
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• West Virginia Investigators: Harpers Ferry Fire Started on Business Patio

  04-08-2015 06:23
  
  A state agency spokesman says a fire in Harpers Ferry, W. Va.’s, commercial area began on the rear patio of a business. Department of Military Affairs and Public Safety spokesman Lawrence Messina tells The Herald-Mail that the cause of the …
  The article West Virginia Investigators: Harpers Ferry Fire Started on Business Patio appeared first on Insurance Journal.
  
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• PURE Introduces Domestic Staff Workers’ Comp Coverage for Florida Members

  04-08-2015 06:17
  
  Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer of high net worth individuals and families, has introduced Domestic Workers’ Compensation Insurance for members residing in Florida. The coverage provides protection for trusted and valued domestic employees. “The …
  The article PURE Introduces Domestic Staff Workers’ Comp Coverage for Florida Members appeared first on Insurance Journal.
  
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• Firefighters Work to Contain North Carolina Forest Fire Threatening Homes

  04-08-2015 06:00
  
  Firefighters are working to contain a wildfire burning in the Pisgah National Forest in McDowell County, North Carolina. The U.S. Forest Service said Sunday anyone traveling along Interstate 40 and U.S. Highway 70 can expect to see smoke over the …
  The article Firefighters Work to Contain North Carolina Forest Fire Threatening Homes appeared first on Insurance Journal.
  
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• Vermont Licensed 14 New Captives So Far This Year

  04-08-2015 05:33
  
  The Vermont Department of Financial Regulation announced on July 31 that the state regulators licensed 14 new captives during the first seven months of 2015, already nearing the full-year 2014 total of 16. The newly licensed captives include seven pure …
  The article Vermont Licensed 14 New Captives So Far This Year appeared first on Insurance Journal.
  
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• Arthur J. Gallagher Completes Acquisition of William Gallagher in Boston

  04-08-2015 05:29
  
  Arthur J. Gallagher & Co. announced today that it has completed its previously disclosed acquisition of William Gallagher Associates Insurance Brokers Inc. in Boston. Arthur J. Gallagher & Co. previously announced on June 15 that it has signed a definitive …
  The article Arthur J. Gallagher Completes Acquisition of William Gallagher in Boston appeared first on Insurance Journal.
  
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• Chubb Did Not Seek Competing Offers Prior to ACE Deal

  04-08-2015 01:58
  
  Chubb Corp. and its bankers at Guggenheim Securities opted against seeking competing offers before the insurer agreed to be purchased by ACE Ltd. for more than $28 billion. “It was not asked by the Chubb board to, and Guggenheim Securities …
  The article Chubb Did Not Seek Competing Offers Prior to ACE Deal appeared first on Insurance Journal.
  
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