Insurance news

• $198M in Property at High Risk from Chelan Wildfire in Washington

  26-08-2015 23:47
  
  The massive Chelan wildfire in Washington poses a significant risk to roughly 634 homes with a total reconstruction cost of more than $198 million, an analysis of the ongoing fire issued Wednesday shows. The analysis by property information and data …
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• Insurers Paid $12.9M in Claims Stemming From Baltimore Riot

  26-08-2015 23:15
  
  The Maryland Insurance Administration says insurance companies have paid $12.9 million in claims stemming from civil unrest in Baltimore linked to the death in April of Freddie Gray. The agency said Tuesday that the payments include $11.6 million for commercial …
  The article Insurers Paid $12.9M in Claims Stemming From Baltimore Riot appeared first on Insurance Journal.
  
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• Citizens: Water Losses the Reason for Rate Increases in South Florida

  26-08-2015 18:59
  
  In a nearly three-hour rate hearing on August 25, representatives from Florida’s Citizens Property Insurance Corp. delved into and defended their recent rate filing, which included significant increases in many Florida regions, before the Florida Office of Insurance Regulation (FLOIR). …
  The article Citizens: Water Losses the Reason for Rate Increases in South Florida appeared first on Insurance Journal.
  
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• Aon Risk Solutions Hires Surette as Resident Managing Director in Boston

  26-08-2015 18:59
  
  Aon Risk Solutions, the global risk management business of Aon plc, hired Joe Surette as resident managing director of Boston operations. Surette succeeds Peter Caine, who left Aon in May to become chief operating officer of Lockton’s St. Louis operations. …
  The article Aon Risk Solutions Hires Surette as Resident Managing Director in Boston appeared first on Insurance Journal.
  
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• Maine Issues Bulletin Prohibiting Use of Price Optimization

  26-08-2015 18:58
  
  Maine Insurance Superintendent Eric A. Cioppa stated in a bulletin published Monday that in Maine, personal lines property/casualty insurers that use price optimization should submit revised rate filings removing such factors within 60 days after the date of the bulletin. …
  The article Maine Issues Bulletin Prohibiting Use of Price Optimization appeared first on Insurance Journal.
  
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• Ohio Licenses First Captive Insurance Company

  26-08-2015 18:55
  
  Lieutenant Governor Mary Taylor announced that Imprise Financial PCC Inc., (Imprise Financial) is now licensed as Ohio’s first ‘protected cell’ captive insurance company. Through its protected cells, Imprise Financial will allow businesses to insure some of their own commercial risks, …
  The article Ohio Licenses First Captive Insurance Company appeared first on Insurance Journal.
  
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• BNSF Seeks Delay in Lawsuit over North Dakota Derailment

  26-08-2015 18:50
  
  A lawyer for BNSF says a civil lawsuit against the railway over a derailment near Casselton, N.D., nearly two years ago should be put on hold until it can be determined whether a broken axel was the cause of the …
  The article BNSF Seeks Delay in Lawsuit over North Dakota Derailment appeared first on Insurance Journal.
  
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• IBHS: After Katrina, Roofing Regulations Stronger on Gulf Coast

  26-08-2015 18:48
  
  According to new research by the Insurance Institute for Business & Home Safety, stronger building codes and standards, along with more stringent requirements for inspections, building permits, and contractor licensing, all have contributed to safer, stronger roofs in coastal Alabama, …
  The article IBHS: After Katrina, Roofing Regulations Stronger on Gulf Coast appeared first on Insurance Journal.
  
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• Aspen Appoints Tassone as Executive VP for U.S. Program Business

  26-08-2015 18:45
  
  Aspen Insurance announced today that Dominick Tassone has been appointed executive vice president, Programs, for its U.S. business. Tassone’s appointment will be effective from Oct. 1, 2015 when Tom Muller, the current head of Programs for Aspen U.S. Insurance, retires …
  The article Aspen Appoints Tassone as Executive VP for U.S. Program Business appeared first on Insurance Journal.
  
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• Kansas Man Sentenced for Iowa for Insurance Scam

  26-08-2015 18:23
  
  A 38-year-old Kansas man has been sentenced to a year and a day in prison for mail fraud connected to an insurance commissions scam in Iowa. Brian Henton, of Olathe, Kansas, was sentenced last week in U.S. District Court in …
  The article Kansas Man Sentenced for Iowa for Insurance Scam appeared first on Insurance Journal.
  
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• Palmer & Cay Re-Enters Texas, Taps McClure as President

  26-08-2015 18:20
  
  Independent insurance broker Palmer & Cay has re-formed operations in Dallas, Texas, and named Howard H. McClure III as president of Palmer & Cay of Texas LLC. Georgia-based Palmer & Cay first entered the Texas market in 1999 but the …
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• Hurricane Katrina: The Numbers Tell Their Own Story

  26-08-2015 18:12
  
  In a 25-year span leading up to 2005, homeowners insurers in Louisiana wrote a total of $13 billion in homeowners insurance premium, from which they earned $1 billion in profit, according to the chief actuary at the state insurance department. But …
  The article Hurricane Katrina: The Numbers Tell Their Own Story appeared first on Insurance Journal.
  
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• Taxi Companies File Suit to Stop Uber Service in Rhode Island

  26-08-2015 17:51
  
  Two taxi companies in Rhode Island have asked a judge to stop ride-hailing company Uber from doing business in the state. The Providence Journal reports Orange Cab of Newport and Airport Taxi of Warwick filed a lawsuit this month seeking …
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• 2 Southern California Schools Closed over Asbestos Will Reopen

  26-08-2015 17:31
  
  Two of three Orange County, Calif. schools closed last year after asbestos was found will reopen for classes at the start of the new school year. The Los Angeles Times reported that Hope View and Oak View elementary schools in …
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• $2M in Fire Damage at Cosmopolitan in Las Vegas, Cause Unknown

  26-08-2015 17:28
  
  Fire officials said Monday they could not determine the cause of a fire that ripped through a 14th floor pool deck at The Cosmopolitan hotel-casino on the Las Vegas Strip and caused $2 million in damage. The Clark County Fire …
  The article $2M in Fire Damage at Cosmopolitan in Las Vegas, Cause Unknown appeared first on Insurance Journal.
  
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• Family of Boy Hit by School Bus Files Claim against Idaho District

  26-08-2015 17:25
  
  The family of a Nampa, Idaho grade school student who was hit by a bus in March has filed a claim against the city and others. The Idaho Press-Tribune reported that the family of 7-year-old Connor Wright filed a tort …
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• City Council Makes L.A. Largest U.S. City with Ridesharing at Airport

  26-08-2015 17:22
  
  Uber Technologies Inc. and Lyft Inc. will be able to pick up and drop off passengers at Los Angeles International Airport within weeks, after the City Council made it the largest U.S. city to permit the companies at its airport. …
  The article City Council Makes L.A. Largest U.S. City with Ridesharing at Airport appeared first on Insurance Journal.
  
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• UK Insurance & Finance Bonuses Well Below Pre-Recession Levels: Report

  26-08-2015 17:15
  
  UK bonuses rose in the last fiscal year and are now just 0.1 percent below their peak before the financial crisis in 2008, according to new data from the statistics office. Bonus payments in the 12 months through March amounted …
  The article UK Insurance & Finance Bonuses Well Below Pre-Recession Levels: Report appeared first on Insurance Journal.
  
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• Auto Insurance Affordability Improves in Most States: IRC

  26-08-2015 17:09
  
  Personal auto insurance has become more affordable over time for all income groups,  including low-to-moderate income groups, and in most states, according to a report from the Insurance Research Council (IRC). The industry group says the study also shows that …
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• Judge Approves Exxon’s $225M New Jersey Pollution Settlement

  26-08-2015 16:11
  
  Exxon Mobil Corp’s $225 million settlement with the administration of New Jersey Governor Chris Christie of a longstanding environmental pollution case won approval on Tuesday from a state judge, over the objections of critics who called the accord a sellout. …
  The article Judge Approves Exxon’s $225M New Jersey Pollution Settlement appeared first on Insurance Journal.
  
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• Tropical Storm Erika Could Reach Florida by Monday

  26-08-2015 15:57
  
  A “Hurricane Hunter” airplane has found that Tropical Storm Erika strengthened slightly as it approached the Leeward Islands in the Caribbean Sea, where warnings and watches have been posted, the U.S. National Hurricane Center said. Erika was about 335 miles …
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• UK’s Towergate Contributes to £20M ($30.9M) Gallagher Lawsuit Settlement

  26-08-2015 15:51
  
  The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …
  The article UK’s Towergate Contributes to £20M ($30.9M) Gallagher Lawsuit Settlement appeared first on Insurance Journal.
  
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• UK Broker Towergate Settles Gallagher Lawsuit for £20 Million ($30.9 Million)

  26-08-2015 15:51
  
  The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …
  The article UK Broker Towergate Settles Gallagher Lawsuit for £20 Million ($30.9 Million) appeared first on Insurance Journal.
  
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• UK Broker Towergate Contributes to £20 Million Gallagher Lawsuit Settlement

  26-08-2015 15:51
  
  The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …
  The article UK Broker Towergate Contributes to £20 Million Gallagher Lawsuit Settlement appeared first on Insurance Journal.
  
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• ‘John Doe’ Sues Adultery Website Ashley Madison in U.S.

  26-08-2015 15:51
  
  The Canadian-based adultery website AshleyMadison.com faces a U.S. backlash — led by the always- litigious “John Doe” — over a data breach that exposed more than 37 million formerly anonymous users. The complainants still seek to maintain their anonymity behind …
  The article ‘John Doe’ Sues Adultery Website Ashley Madison in U.S. appeared first on Insurance Journal.
  
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• Nationwide Rebrands Crestbrook, Expands Affluent Client Offerings to 4 States

  26-08-2015 14:46
  
  Nationwide Private Client insurance products and services for affluent clients are now available in four new states: Alaska, Idaho, Minnesota, and Tennessee, bringing the total number of states served to 16. Nationwide Private Client business formerly went under the name …
  The article Nationwide Rebrands Crestbrook, Expands Affluent Client Offerings to 4 States appeared first on Insurance Journal.
  
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• Integro Acquires Entertainment Risk Management, London-Based MGA

  26-08-2015 11:39
  
  The insurance brokerage and risk management firm Integro Ltd. has acquired Entertainment Risk Management Ltd. (ERM), a London-based managing general agent (MGA), to augment its international entertainment practice.  Financial details of the transaction have not been disclosed. ERM primarily serves brokers …
  The article Integro Acquires Entertainment Risk Management, London-Based MGA appeared first on Insurance Journal.
  
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• Lockton Brazil Appoints Neto as Deputy CEO

  26-08-2015 10:39
  
  U.S. based Lockton Companies, the independent insurance broker, has appointed Guilherme Perondi Neto as deputy CEO of its Brazilian subsidiary, Lockton Brazil, effective Sept. 1, 2015. With extensive experience in the insurance market through various multinationals companies such as Veritas …
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• Brazil Insurer Caixa Seguridade, Reinsurer IRB Plan IPOs to Raise $3.6 Billion

  26-08-2015 10:16
  
  Brazilian insurer Caixa Seguridade Participações SA and reinsurer IRB Brasil RE SA on Tuesday filed plans for initial public offerings that their shareholders expect to raise a combined 13 billion reais ($3.6 billion) should an across-the-board market rout ease in …
  The article Brazil Insurer Caixa Seguridade, Reinsurer IRB Plan IPOs to Raise $3.6 Billion appeared first on Insurance Journal.
  
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• Investor Doubts Remain About Zurich’s $8.8B Tentative Offer for UK’s RSA

  26-08-2015 09:41
  
  Zurich Insurance Group AG’s announcement that it’s considering a 5.6 billion-pound ($8.8 billion) offer for RSA Insurance Group plc is leaving investors in doubt that the takeover will happen at that price. RSA rose 4.6 percent to 517.5 pence at 4:17 p.m. in London …
  The article Investor Doubts Remain About Zurich’s $8.8B Tentative Offer for UK’s RSA appeared first on Insurance Journal.
  
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• Two-Year Florida Insurance Fraud Investigation Leads to Multiple Arrests

  26-08-2015 07:49
  
  The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) has made multiple arrests related to a large-scale personal injury protection (PIP) fraud scheme spanning across Central Florida. Five individuals have been arrested for their alleged various roles in …
  The article Two-Year Florida Insurance Fraud Investigation Leads to Multiple Arrests appeared first on Insurance Journal.
  
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• Florida’s West Coast Facing Sinkhole Risk After Month of Wet Weather

  26-08-2015 07:34
  
  The onslaught of rain that drenched parts of Florida over the past month unleashed widespread flooding that left the ground soppy and saturated. Geologists say that under all the water weight, another problem could be brewing out of sight: sinkholes. …
  The article Florida’s West Coast Facing Sinkhole Risk After Month of Wet Weather appeared first on Insurance Journal.
  
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• South Carolina DUI Campaign Going Through Labor Day

  26-08-2015 07:29
  
  With the summer travel season winding down and with traffic deaths up across the state, South Carolina law enforcement agencies are gearing up their efforts to keep drunk drivers off the road. The Department of Public Safety says stepped-up enforcement …
  The article South Carolina DUI Campaign Going Through Labor Day appeared first on Insurance Journal.
  
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• Auto-Owners Insurance Acquires North-Carolina Based Atlantic Casualty

  26-08-2015 07:23
  
  Auto-Owners Insurance has acquired Atlantic Casualty Insurance Co., an excess and surplus lines company located in Goldsboro, N.C. Jeff Harrold, chairman and CEO, said the combined resources significantly expand the potential and growth opportunities for Atlantic Casualty and the managing …
  The article Auto-Owners Insurance Acquires North-Carolina Based Atlantic Casualty appeared first on Insurance Journal.
  
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• Hudson Crop Launches Total Revenue Coverage

  26-08-2015 07:21
  
  Hudson Insurance Co. has added Total Revenue Coverage (TRC) to Hudson Crop’s suite of private products. TRC is a supplemental insurance policy to multi-peril crop insurance (MPCI) that offers farmers a single, firm, crop revenue guarantee at the time of …
  The article Hudson Crop Launches Total Revenue Coverage appeared first on Insurance Journal.
  
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• California Commissioner Applauds Supreme Court Decision Against Harford

  26-08-2015 00:42
  
  California Insurance Commissioner Dave Jones is praising a recent unanimous California Supreme Court decision that he said ensures policyholders are protected from insurers refusing to cover third-party liability claims when the insured transfers the insurance benefits after the events triggering …
  The article California Commissioner Applauds Supreme Court Decision Against Harford appeared first on Insurance Journal.
  
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