Insurance news

• Four arrested in Miami on personal insurance fraud - Miami Herald

  05-08-2015 23:57 via miamiherald.com
  
  Four arrested in Miami on personal insurance fraud
  Miami Herald
  Four South Florida men have been arrested in insurance-billing fraud cases totaling $145,000, Florida officials announced Wednesday. The arrests involved three cases in which the suspects are accused of staging crashes and submitting phony claims, ...
  
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• Report: California Workers’ Comp Premiums Growing at Double-Digit Rates

  05-08-2015 23:45
  
  Workers’ compensation premiums in California continue to grow at double-digit rates, according to the Workers’ Compensation Insurance Rating Bureau. The WCIRB recently released its “State of the California Worker’s Compensation Report,” and authors of the report on Wednesday highlighted developing …
  The article Report: California Workers’ Comp Premiums Growing at Double-Digit Rates appeared first on Insurance Journal.
  
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• N.J. Man Gets 3-Year Sentence for Faking Mercedes Carjacking to Get $38K

  05-08-2015 23:35
  
  A New Jersey man who fabricated a story about being carjacked is heading to prison. Maurice Douglas received a three-year sentence on Monday, New Jersey Acting Attorney General John Hoffman said. Douglas, 42, had pleaded guilty in March to insurance …
  The article N.J. Man Gets 3-Year Sentence for Faking Mercedes Carjacking to Get $38K appeared first on Insurance Journal.
  
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• Burns & Wilcox Brokerage Hires NAPCO Exec Moskie as VP in New York

  05-08-2015 23:14
  
  Burns & Wilcox Brokerage hired Philip Moskie as vice president of Property Brokerage for its New York City office. Moskie brings nearly two decades of wholesale brokerage experience to the role. He most recently served as senior vice president at …
  The article Burns & Wilcox Brokerage Hires NAPCO Exec Moskie as VP in New York appeared first on Insurance Journal.
  
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• Burns & Wilcox Brokerage Hires Moskie as VP in New York

  05-08-2015 23:14
  
  Burns & Wilcox Brokerage hired Philip Moskie as vice president of Property Brokerage for its New York City office. Moskie brings nearly two decades of wholesale brokerage experience to the role. He most recently served as senior vice president at …
  The article Burns & Wilcox Brokerage Hires Moskie as VP in New York appeared first on Insurance Journal.
  
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• Forget Allstate, Buy These Insurance Stocks Instead - Zacks.com

  05-08-2015 21:24 via zacks.com
  Forget Allstate, Buy These Insurance Stocks Instead
  Zacks.com
  Allstate Corporation (ALL - Analyst Report) shares plunged 9.8% in the two trading sessions following the release of its second-quarter earnings, which missed the Zacks Consensus Estimate widely by 33%. The property and casualty insurer with a market ...and more »
  
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• Manitowoc County keeping an eye on insurance costs - Herald Times Reporter

  05-08-2015 21:01 via htrnews.com
  
  Herald Times Reporter
  Manitowoc County keeping an eye on insurance costs
  Herald Times Reporter
  MANITOWOC – Manitowoc County is keeping an eye on its insurance plan to ensure it doesn't have to pay the Affordable Care Act's Cadillac Tax once it goes into effect in 2018. The county's Personnel Committee heard good news about the plan Tuesday, ...and more »
  
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• N.J. Regulators Recovered $15.7M for Consumers in Fiscal Year 2015

  05-08-2015 19:48
  
  The New Jersey Department of Banking and Insurance (DOBI) recovered more than $15.7 million for consumers in fiscal year 2015 which ended June 30, according to an announcement today by Acting Commissioner Richard J. Badolato. DOBI recovered $15.02 million from …
  The article N.J. Regulators Recovered $15.7M for Consumers in Fiscal Year 2015 appeared first on Insurance Journal.
  
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• Birmingham postal worker faces false insurance claim charge for stolen, burned BMW - AL.com

  05-08-2015 19:47 via al.com
  
  AL.com
  Birmingham postal worker faces false insurance claim charge for stolen, burned BMW
  AL.com
  A Birmingham postal worker has been charged with filing a false insurance claim last year for a 2002 BMW vehicle reported stolen, the Alabama Department of Insurance Criminal Fraud Unit announced Wednesday. Marcel Gerard Dixon, 53, was arrested ...
  
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• N.Y. Yankees to Offer Fans Biometric Identity Service for Faster Stadium Entry

  05-08-2015 19:00
  
  Yankee Stadium visitors soon will be able to avoid long security lines by registering their fingerprints with a biometric identity service used at 12 U.S. airports. Starting Friday night against the Toronto Blue Jays, visitors to the Bronx, New York, …
  The article N.Y. Yankees to Offer Fans Biometric Identity Service for Faster Stadium Entry appeared first on Insurance Journal.
  
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• Poeton Named Sr. VP in State National’s Program Services Segment

  05-08-2015 18:53
  
  Bedford, Texas-based State National Cos. Inc. appointed Tim Poeton senior vice president of business development in its Program Services segment. Poeton has more than  30 years of insurance and reinsurance experience. Most recently, he served as senior vice president and branch …
  The article Poeton Named Sr. VP in State National’s Program Services Segment appeared first on Insurance Journal.
  
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• New Rules Limit Amount of Wastewater in Oklahoma Disposal Wells

  05-08-2015 18:46
  
  The Oklahoma Corporation Commission is imposing new guidelines on oil and natural gas disposal well operations in response to a rise in earthquake activity in northern Oklahoma and southern Logan counties. The commission that regulates the oil and gas industry …
  The article New Rules Limit Amount of Wastewater in Oklahoma Disposal Wells appeared first on Insurance Journal.
  
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• Ohio Couple Awarded $1.3M for Diesel Pumped into Basement

  05-08-2015 18:42
  
  A jury has awarded than $1.3 million in damages to a couple whose southern Ohio farmhouse was made inhabitable when a fuel deliverer mistakenly pumped 600 gallons of diesel into their basement. The Ross County jury awarded the money last …
  The article Ohio Couple Awarded $1.3M for Diesel Pumped into Basement appeared first on Insurance Journal.
  
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• Michigan’s J.M. Wilson Adds White, Nichols as Underwriters

  05-08-2015 18:38
  
  Portage, Mich.-based insurance wholesaler, J.M. Wilson, has added two new property/casualty underwriters: Blayne White and Robbin Nichols. Both White and Nichols will quote new and renewal commercial property/casualty risks and serve independent insurance agents in Michigan. White graduated from Olivet …
  The article Michigan’s J.M. Wilson Adds White, Nichols as Underwriters appeared first on Insurance Journal.
  
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• Companies Must Report CEO-to-Worker Pay Ratio Under New SEC Rule

  05-08-2015 18:32
  
  The U.S. Securities and Exchange Commission approved a rule Wednesday requiring companies to reveal the pay gap between the chief executive officer and their typical worker, handing a new weapon to groups protesting rising income inequality. The commission voted 3 …
  The article Companies Must Report CEO-to-Worker Pay Ratio Under New SEC Rule appeared first on Insurance Journal.
  
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• Lightning Blamed for Ohio Gas Station Fuel Tank Explosion

  05-08-2015 18:30
  
  Investigators say lightning has sparked a fuel tank explosion that left a crater 40 feet wide at an Ohio gas station. The blast and fire in the evening on Aug. 3 prompted a temporary evacuation near the Gas Depot in …
  The article Lightning Blamed for Ohio Gas Station Fuel Tank Explosion appeared first on Insurance Journal.
  
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• FEMA Disaster Aid to Arkansas Tops $2M

  05-08-2015 18:26
  
  Federal officials say the government has provided more than $2 million in aid to help Arkansas recover from storms that hit in May and June. Tornadoes, high winds and flooding ravaged the state between May 7 and June 15. The …
  The article FEMA Disaster Aid to Arkansas Tops $2M appeared first on Insurance Journal.
  
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• Verisk launches insurance claims app - Business Insurance

  05-08-2015 18:24 via businessinsurance.com
  Verisk launches insurance claims app
  Business Insurance
  Verisk Analytics Inc.'s Verisk Insurance Solutions unit said Wednesday it has launched an ISO ClaimSearch mobile application for Apple and Android mobile device users. Participating insurers can submit reports on insurance claims and ISO stores the ...and more »
  
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• Auto Claims Hit Allstate’s Q2 Results

  05-08-2015 18:03
  
  Allstate Corp. reported net income fell to $355 million in the second quarter, down from $645 million, as the insurer coped with rising auto claims costs. The Allstate brand suffered an underwriting loss for the quarter. The company stressed that …
  The article Auto Claims Hit Allstate’s Q2 Results appeared first on Insurance Journal.
  
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• Insurance Is The Next Frontier For Fintech - TechCrunch

  05-08-2015 18:01 via techcrunch.com
  
  TechCrunch
  Insurance Is The Next Frontier For Fintech
  TechCrunch
  We have entered a golden age for fintech. LendingClub and OnDeck recently exited through massive IPOs, and global investments in the fintech space hit $3 billion last year. This outpouring of innovation and investment has spread across the financial ...
  
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• Washington City Sues Monsanto Over River Contamination

  05-08-2015 17:43
  
  The city of Spokane is suing the international agrochemical giant Monsanto, which it blames for pollution in the Spokane River in Washington. The lawsuit, filed last week in U.S. District Court in Spokane, alleges that the company sold chemicals that …
  The article Washington City Sues Monsanto Over River Contamination appeared first on Insurance Journal.
  
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• Former Worker Sues Safeway in Oregon Over Leering Customer

  05-08-2015 17:40
  
  A former employee of a Safeway in Oregon has filed a lawsuit against the grocery store chain saying she was forced to quit because a customer repeatedly stared at her breasts and made vulgar comments. The Oregonian reported that 44-year-old Daphne …
  The article Former Worker Sues Safeway in Oregon Over Leering Customer appeared first on Insurance Journal.
  
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• Firefighters Make Progress Against Raging California Wildfire

  05-08-2015 17:37
  
  Firefighters are reporting some progress against a Northern California wildfire that has charred more than 100 square miles of terrain, destroying buildings, threatening many others and sending thousands of residents fleeing. As firefighters and equipment from outside the state poured …
  The article Firefighters Make Progress Against Raging California Wildfire appeared first on Insurance Journal.
  
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• Starr Names AIG’s Conway as Senior VP for Specialty Casualty

  05-08-2015 16:49
  
  Dan Conway has joined global insurer Starr Companies as senior vice president for Specialty Casualty. Conway will assume overall responsibility for the Construction, Excess Construction and the Defense Base Act (DBA) profit centers, according to the announcement. The profit center …
  The article Starr Names AIG’s Conway as Senior VP for Specialty Casualty appeared first on Insurance Journal.
  
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• Stinziano calls for investigation of 'widow tax' on car insurance - Columbus Dispatch (blog)

  05-08-2015 16:48 via dispatch.com
  
  Stinziano calls for investigation of 'widow tax' on car insurance
  Columbus Dispatch (blog)
  The recent report from the Consumer Federation of America that several insurers charge recent widows more for auto coverage has struck a nerve with state Rep. Michael Stinziano. The Columbus Democrat, a member of the House Insurance Committee, has ...
  
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• 7 Insurance Stocks to Buy Now - Investorplace.com

  05-08-2015 16:45 via investorplace.com
  
  7 Insurance Stocks to Buy Now
  Investorplace.com
  The grades of seven insurance stocks are better this week, according to the Portfolio Grader database. Every one of these stocks has an “A” (“strong buy”) or “B” overall (“buy”) rating. This week, Maiden Holdings, Ltd. (MHLD) is showing good progress ...and more »
  
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• 10 Business Insurance Lessons and 1 Owner's Advice from Katrina - Insurance Journal

  05-08-2015 16:32 via insurancejournal.com
  
  Insurance Journal
  10 Business Insurance Lessons and 1 Owner's Advice from Katrina
  Insurance Journal
  Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of 2005 have only recently been ...
  Katrina's Impact on Commercial Property InsuranceClaimsJournal.comall 23 news articles »
  
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• 10 Business Insurance Lessons and 1 Owner’s Advice from Katrina

  05-08-2015 16:15
  
  Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of …
  The article 10 Business Insurance Lessons and 1 Owner’s Advice from Katrina appeared first on Insurance Journal.
  
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• No, Giving More People Health Insurance Doesn't Save Money - New York Times

  05-08-2015 16:05 via nytimes.com
  New York Times
  No, Giving More People Health Insurance Doesn't Save Money
  New York Times
  In 2014, an estimated nine million people became newly insured thanks to Obamacare. There's an oft-expressed view that getting all those people covered could actually save the health system money. The argument goes something like this: Once people ...
  The Cost Of Over Insurance: National Health Expenditures Rising AgainForbesall 41 news articles »
  
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• Genova Burns Hires Insurance Law Expert Megna - PolitickerNJ

  05-08-2015 15:50 via politickernj.com
  
  Genova Burns Hires Insurance Law Expert Megna
  PolitickerNJ
  With the acquisition of William F. Megna, law firm Genova Burns has established a specialized Insurance Law Practice Group. This group will handle insurance company formation and governance, including captive insurers, risk retention groups, MEWAs and ...
  
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• Private Equity Firm Odyssey Buys Broker Integro

  05-08-2015 15:04
  
  New York and Los Angeles private equity firm Odyssey Investment Partners, LLC has agreed to acquire Integro Ltd., a specialty insurance brokerage and risk management firm. Financial details of the investment were not disclosed. Integro was founded in New York …
  The article Private Equity Firm Odyssey Buys Broker Integro appeared first on Insurance Journal.
  
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• Louisiana's Mostly Unclaimed Citizens Insurance Rebate Lowered - ClaimsJournal.com

  05-08-2015 14:14 via claimsjournal.com
  Louisiana's Mostly Unclaimed Citizens Insurance Rebate Lowered
  ClaimsJournal.com
  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 to file for ...
  
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• Why are hearing disabilities not covered by insurance and Medicare? - The Hill (blog)

  05-08-2015 14:00 via thehill.com
  Why are hearing disabilities not covered by insurance and Medicare?
  The Hill (blog)
  Imagine a treatable disability that afflicts tens of millions of Americans and yet is generally uncovered by insurance or Medicare. You would think it would prompt a civil rights uprising. Mandates to treat other conditions abound. For example, 23 ...
  
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• AIG Focuses on Integrating Japan Businesses, Rather Than Additional M&As

  05-08-2015 13:45
  
  American International Group Inc. plans to sit out the unprecedented wave of insurance industry deal-making and instead focus on integrating businesses in Japan. The timetable for merging AIU with Fuji Fire & Marine has been pushed back to 2016 or …
  The article AIG Focuses on Integrating Japan Businesses, Rather Than Additional M&As appeared first on Insurance Journal.
  
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• Argo Reports 2015 Q2 Net Income of $27.9M, Compared to $38.6M in 2014

  05-08-2015 12:20
  
  Argo Group International Holdings Ltd. reports net income of $27.9 million or $0.98 per diluted share, compared to $38.6 million or $1.32 per diluted share for the second quarter of 2014. “Argo Group’s second quarter results demonstrate continued momentum in …
  The article Argo Reports 2015 Q2 Net Income of $27.9M, Compared to $38.6M in 2014 appeared first on Insurance Journal.
  
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• City may pay more to workers who opt out of insurance - Capital New York

  05-08-2015 12:19 via capitalnewyork.com
  
  Capital New York
  City may pay more to workers who opt out of insurance
  Capital New York
  The de Blasio administration is considering an increase in the incentives it provides to employees who opt out of city health insurance, part of an ongoing effort to reduce the city's health care costs. The city currently pays $500 for every individual ...
  
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• Untangling The Many Deductibles Of Health Insurance - WGBH NEWS

  05-08-2015 12:08 via wgbhnews.org
  
  WGBH NEWS
  Untangling The Many Deductibles Of Health Insurance
  WGBH NEWS
  Sure, there's a deductible with your health insurance. But then what's the hospital deductible? Your insurer may have multiple deductibles, and it pays to know which apply when. These questions and answers tackle deductibles, whether an ex-spouse has ...and more »
  
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• Best Downgrades PartnerRe and Subs Ratings; Remains under Review

  05-08-2015 11:53
  
  A.M. Best announced that it has downgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of Partner Reinsurance Company Ltd. and its affiliates. Best has also downgraded …
  The article Best Downgrades PartnerRe and Subs Ratings; Remains under Review appeared first on Insurance Journal.
  
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• U.S. Appeals Court Rejects Ecuador Challenge to $96 Million Chevron Award

  05-08-2015 11:31
  
  A U.S. appeals court on Tuesday rejected Ecuador’s challenge to a $96 million international arbitration award in favor of energy giant Chevron Corp, marking the latest twist in a decades-long dispute over the development of oil fields in the South …
  The article U.S. Appeals Court Rejects Ecuador Challenge to $96 Million Chevron Award appeared first on Insurance Journal.
  
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• UK Broker Market ‘Stagnant;’ M&A, but No Real Growth: Finaccord Study

  05-08-2015 11:06
  
  Two new research studies issued by market research firm Finaccord put a value of £4.64 billion [$7.234 billion] on the size of the total non-life insurance broking market in the UK in 2014, up marginally from £4.55 billion [$7.09 billion] …
  The article UK Broker Market ‘Stagnant;’ M&A, but No Real Growth: Finaccord Study appeared first on Insurance Journal.
  
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• Super Typhoon Soudelor Threatens China & Taiwan: AccuWeather Report

  05-08-2015 10:56
  
  AccuWeather has reported that Typhoon Soudelor “rapidly intensified on Monday, becoming a super typhoon and reaching the equivalent of a Category 5 hurricane in the Atlantic or Eastern Pacific basins.” AccuWeather said the storm “reached peak intensity late Monday with …
  The article Super Typhoon Soudelor Threatens China & Taiwan: AccuWeather Report appeared first on Insurance Journal.
  
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• Willis Appoints Norris Managing Partner in Alabama

  05-08-2015 10:00
  
  Willis North America has appointed Ben Norris as managing partner, Willis of Alabama, effective immediately. In this role, he will be responsible for Willis’s operations across its offices in Birmingham, Huntsville, and Montgomery, Ala., and Rogers, Ark. Based in Birmingham, …
  The article Willis Appoints Norris Managing Partner in Alabama appeared first on Insurance Journal.
  
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• Hannover Re Q2 Profit Rises 19% on P&C Earnings

  05-08-2015 09:20
  
  Hannover Re, the world’s third-largest reinsurer, said second-quarter profit rose 19 percent, as lower catastrophe claims helped a surge in earnings from property and casualty. Net income increased to 252.2 million euros ($274 million) from 211.5 million euros a year earlier, …
  The article Hannover Re Q2 Profit Rises 19% on P&C Earnings appeared first on Insurance Journal.
  
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• Greenlight Re Reports Q2 Net Loss of $39.6M on Investments, Legacy Business

  05-08-2015 09:10
  
  Cayman Islands-based Greenlight Re reported a net loss of $39.6 million for the second quarter of 2015, compared to net income of $109.6 million for the same period in 2014. The net loss per share for the second quarter of …
  The article Greenlight Re Reports Q2 Net Loss of $39.6M on Investments, Legacy Business appeared first on Insurance Journal.
  
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• Troubled Phila. cab insurance firm is curbed - Philly.com

  05-08-2015 09:05 via philly.com
  
  Philly.com
  Troubled Phila. cab insurance firm is curbed
  Philly.com
  Cabdrivers, such as these at 30th Street Station, may face an uncertain future with regard to their insurance as the PUC investigates a major carrier. (RON CORTES/File Photo). Travel Deals. $652 & up -- Aruba Beachfront Vacations incl. Air. Mediaplex_tag.and more »
  
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• Bank of the West sells insurance agency BW Insurance - Omaha World-Herald

  05-08-2015 08:05 via omaha.com
  The Coloradoan
  Bank of the West sells insurance agency BW Insurance
  Omaha World-Herald
  A Chicago-based insurance company has purchased an insurance subsidiary of Bank of the West, one of the 10 largest banks in the Omaha-Council Bluffs metropolitan area. Former BW Insurance Agency offices in Omaha, North Platte, Alliance and Rushville ...
  Bank of the West sells insurance subsidiaryThe Coloradoan
  Hub International Acquires BW Insurance AgencyInsurance Journal
  Hub acquires far-flung agencyBu
  
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• Summer Flooding Causing Damage, Evacuations in Tampa Bay Area

  05-08-2015 07:19
  
  A summer deluge has flooded streets in the Tampa Bay area, forcing some road closings and evacuations, delaying airline flights and overtaxing parts of local wastewater treatment systems. Major intersections were closed Monday near downtown Tampa, snarling traffic throughout the …
  The article Summer Flooding Causing Damage, Evacuations in Tampa Bay Area appeared first on Insurance Journal.
  
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• 8,000 Customers Affected by Water Main Break in North Carolina City

  05-08-2015 07:09
  
  Officials in the City of Lexington, N.C., have declared a state of emergency after a break occurred in a 16-inch water main. The Dispatch of Lexington reports restaurants and other businesses closed on Monday. City offices closed at noon. Citizens …
  The article 8,000 Customers Affected by Water Main Break in North Carolina City appeared first on Insurance Journal.
  
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• Regions Insurance Acquires Georgia-Based The A.I. Group

  05-08-2015 06:38
  
  Regions Insurance, Inc., a subsidiary of Regions Insurance Group, Inc. and an affiliate of Regions Bank, has acquired The A.I. Group, Inc., with offices in Greater Atlanta and Athens, Georgia. The A.I. Group provides employee benefits consulting and insurance brokerage …
  The article Regions Insurance Acquires Georgia-Based The A.I. Group appeared first on Insurance Journal.
  
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• Man says wife showed proof of insurance during traffic stop, received ticket ... - KMOV.com

  05-08-2015 05:13 via kmov.com
  
  Man says wife showed proof of insurance during traffic stop, received ticket ...
  KMOV.com
  A man told News 4 his wife received a ticket for lack of insurance even though she showed a St. Louis police officer proof of insurance on her phone during a traffic stop. MOREAdditional LinksPoll. Justin Powell said his wife was pulled over in the ...and more »
  
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