Insurance news

• Engle Martin Closes Acquisition of Eberl in Colorado

  03-09-2015 21:55
  
  Engle Martin & Associates has completed its acquisition of a majority share of Eberl’s Claim Service Inc. of Lakewood, Colo. and its related companies. Eberl provides catastrophe loss adjusting and claims-related services with a focus on residential and automobile insurance …
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• Millennials Prefer Usage-Based Insurance: Survey

  03-09-2015 21:04
  
  More drivers aged 18 to 34, or millennials, are interested in usage-based auto insurance policies than are drivers in all other age groups. More millennials (88 percent) are interested in taking out a UBI, also known as telematics, policy compared …
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• Delaware Compensation Rating Bureau Seeks Loss Costs Increase

  03-09-2015 18:59
  
  The Delaware Compensation Rating Bureau (DCRB) announced that it has submitted to the Delaware Department of Insurance a filing of revisions to the state’s Residual Market Plan, voluntary market loss costs and related rating values with a proposed effective date …
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• XL Catlin Realigns U.S. Excess/Surplus Team, Names 3 Regional VPs

  03-09-2015 18:50
  
  XL Catlin’s Excess & Surplus (E&S) Casualty business has unveiled a new geographically-focused structure and named three new regional leaders. Coy Rudd is appointed East regional vice president in New York; Ankur Chokshi was named Central regional vice president, based …
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• OSHA Fines Wisconsin Scrap Yard $42K after Worker Death

  03-09-2015 18:50
  
  A federal safety agency is proposing $42,000 in fines against a Waukesha, Wis., scrap yard where an employee was killed when he was struck by a forklift truck. The Occupational Safety and Health Administration cited Waukesha Iron & Metal Inc. …
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• Schul Joins Analytics Firm RiskMatch

  03-09-2015 18:41
  
  Patrick Schul has joined RiskMatch, a Greenwich, Connecticut-based analytics firm for underwriters and brokers, as chief sales and marketing officer. Before joining RiskMatch, Schul was chairman and CEO of Schul Baker Partners, a firm he co-founded in 2011 to help …
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• Dillabaugh Joins Lockton’s Benefits Agency in Kansas City

  03-09-2015 18:37
  
  Scott Dillabaugh has joined the leadership team of Lockton Companies’ Benefits Agency as senior vice president. He will be based in Kansas City. Dillabaugh will focus on business development, fostering the company’s culture, and driving innovation. He will also be assisting several …
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• MedPro Group Finalizes Acquisition of Oklahoma-Based PLICO

  03-09-2015 18:36
  
  MedPro Group (MedPro), a Berkshire Hathaway subsidiary, has its completed its acquisition of healthcare liability insurer PLICO Inc. (PLICO) from the Oklahoma State Medical Association (OSMA). The transaction process — from signing to closing — took less than 60 days, the …
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• Arkansas AG: State Law Bars Local LGBT Protections

  03-09-2015 18:34
  
  Five local measures prohibiting discrimination based on sexual orientation or gender identity cannot be enforced because of a new Arkansas law barring such protections, Attorney General Leslie Rutledge wrote in a nonbinding opinion. Rutledge said the state law prohibits ordinances …
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• Lighthouse Property Insurance Adds Gomez as Texas Marketing Rep

  03-09-2015 18:33
  
  Lighthouse Property Insurance Corp., based in Orlando, Fla., appointed Maureen Gomez as marketing representative for Texas. With more than 22 years of experience in the insurance industry, Gomez has held marketing, underwriting and relationship management positions. Prior to Lighthouse, she served as …
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• Wohltman-Aherin Insurance Joins Valley Insurance Agency Alliance

  03-09-2015 18:30
  
  Valley Insurance Agency Alliance (VIAA), a network of nearly 100 independent insurance agencies in Missouri and Southern Illinois, has added Wohltman-Aherin Insurance Agency as its newest alliance member. Founded in 1974 by Myron and Norma Wohltman, Wohltman-Aherin Insurance Agency specializes …
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• Sony Pictures Agrees to Settle with Former Employees Over Hacked Data

  03-09-2015 17:48
  
  Sony Pictures Entertainment Inc. has reached a settlement agreement with nine former employees who had filed a lawsuit claiming that their personal data was stolen in a 2014 hacking tied to the studio’s release of a comedy film set in …
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• Oregon Grocery Chain Sues Albertsons for $1B

  03-09-2015 17:47
  
  The small Oregon-based grocery-store chain Haggen this week sued Albertsons for more than $1 billion in damages, alleging the supermarket giant engaged in systematic efforts to eliminate it as a viable competitor in five states. The lawsuit, filed in federal court …
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• Local Conn. Businesses Are Told to Plan Ahead, Prepare for Next Big Storm

  03-09-2015 17:42
  
  A Category 3 hurricane with forces not seen in Eastern Connecticut for nearly 100 years barrels into the mouth of the Connecticut River. Roads are blocked by downed trees and utility lines. Power is expected to be out for up …
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• NYC, Transport Workers Union Settle Suit Over Pedestrian Safety Program

  03-09-2015 17:37
  
  New York City has reached a settlement with the Transport Workers Union regarding a lawsuit over the mayor’s recently implemented “Vision Zero” program that aims to eliminate all pedestrian deaths. TWU Local 100 had filed suit claiming a provision in …
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• Former New York DFS General Counsel Alter Joins itBit for Compliance Role

  03-09-2015 17:34
  
  Bitcoin exchange itBit has hired Daniel Alter as the company’s new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), …
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• Emerton and Fisher Join Allied World’s Expanded Casualty Team

  03-09-2015 17:21
  
  Allied World Assurance Company Holdings, AG announced that its Allied World Global Markets unit has expanded its casualty team with the appointments of James Emerton as Vice President and Martin Fisher as Assistant Vice President. They will be based in …
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• Hub International Acquires Agencies in Washington and California

  03-09-2015 17:18
  
  Hub International Ltd. has acquired the assets of Arrow Insurance Service Inc. in Simi Valley, Calif. and it has acquired the assets of EmSpring Corp. in Washington. Terms of the deals were not disclosed. Arrow provides specialty retail insurance and …
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• Uber’s Fails to Block Drivers From Suing as Group for Tips in California

  03-09-2015 17:09
  
  Uber Technologies Inc. will have to defend a group lawsuit brought by drivers seeking the pay and benefits of employees. The judge’s ruling may slow the company’s growth and cut into its $50 billion valuation. It could affect the company’s …
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• AssuredPartners Acquires Colorado Insurance Broker Sisk & Co.

  03-09-2015 17:06
  
  AssuredPartners Inc. has acquired Sisk & Co. of Denver, Colo. The agency’s 27 employees will continue to operate from the Denver headquarters under the local leadership of Principal Thomas J. Sisk. Sisk & Co. provides insurance, risk management and safety …
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• AIG Launches Insurance for Couture, Designer Wardrobe Collections

  03-09-2015 16:51
  
  AIG Private Client Group, a division of American International Group, Inc. that serves high net worth policyholders, has introduced wearable collections coverage, a specialized insurance product for couture and designer wearable collections. The new couture product offers coverage not typically …
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• A.M. Best: Reinsurance Sector Faces New Reality Shaped by Abundant Capacity

  03-09-2015 16:49
  
  The reinsurance market is operating in a new reality of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins, driven by intense competition against shrinking demand for reinsurance cover, according to A.M. Best’s annual special …
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• Triton Insurance Group Hires New Agent

  03-09-2015 16:47
  
  Florida’s Triton Insurance Group, a provider of home, auto, business, motorcycle, umbrella, boat and workman’s compensation insurance, has appointed Cole Millican as its newest agent. According to the company, Millican has become a top producer with Triton. Triton Insurance Group …
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• Fox News Anchor Sues Hasbro Over Toy Hamster

  03-09-2015 14:58
  
  An anchor for Fox News Channel has sued Hasbro Inc. for more than $5 million over the company’s sale of a plastic toy hamster that shares her name, and which she says resembles her. In a complaint filed on Monday, …
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• Why Millennials’ Credit Scores Are So Low

  03-09-2015 14:50
  
  Millennials get plenty of recognition for frugality and their desire to share everything from cars to clothes, but they also have the lowest average credit score of any generation, according to a new study. The average millennial credit score is …
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• Women Truckers Outperform Men; More Recruited to Ease Labor Shortage

  03-09-2015 14:23
  
  Female truckers are sliding into long-haul cabs as companies seek to end a U.S. driver shortage, and they’re proving to be better behind the wheel than men. That’s no surprise to Stephanie Klang, 57, who used to drive in a …
  The article Women Truckers Outperform Men; More Recruited to Ease Labor Shortage appeared first on Insurance Journal.
  
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• Blackstone Acquires Major Interest in Mortgage Insurer PMI

  03-09-2015 12:40
  
  Blackstone Group LP acquired a “significant equity stake” in mortgage insurer PMI Group Inc. Blackstone, the New York-based private-equity firm, will provide a loan to PMI for working capital and gains the right to take part in future equity offerings, …
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• S&P Report Urges Discipline as Reinsurers Adjust Exposure to Cat Risk

  03-09-2015 11:42
  
  Standard & Poor’s Ratings Services has released a report – “Discipline Is Necessary As Reinsurers Adjust Their Exposure To Catastrophe Risk” – that examines diverging attitudes to catastrophe risk among reinsurers facing a prolonged soft market. S&P explained that “two years …
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• Generali Hires Ex-Morgan Stanley Credit-Trading Head Khazen

  03-09-2015 11:28
  
  Assicurazioni Generali SpA hired Anna Khazen as head of investments for its asset-management unit. Khazen will cover all asset classes in her new role, said a company official, who asked not to be identified citing company policy. She is based …
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• Towers Watson & Cambridge to Provide Usage-Based Auto Insurance Market Info

  03-09-2015 11:16
  
  Global professional services company Towers Watson and Cambridge Mobile Telematics (CMT), a telematics technology provider will use “advanced mobile sensing, data analytics and behavioral science,” in an agreement to provide “a jointly developed comprehensive usage-based auto insurance (UBI) solution and …
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• Lloyd’s City Risk Index shows $4.6 Trillion GDP at Risk in 301 Cities

  03-09-2015 11:11
  
  In the first ever Lloyd’s City Risk Index, analyzes the economic output at risk (GDP at risk) in 301 major cities from 18 manmade and natural threats over a ten-year period. The Index is based on original research by the …
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• National Emissions Plans Fall Short to Limit Climate change – UN Study

  03-09-2015 11:03
  
  National plans for limiting greenhouse gas emissions fall short of tough action needed to slow climate change under a United Nations agreement due in Paris in December, European researchers said on Wednesday. The plans submitted so far to the UN …
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• Florida High Court to Decide on $3.3 Million Award to Man Mistaken for Bank Robber

  03-09-2015 07:15
  
  Rodolfo Valladares wore the wrong hat to the wrong Miami bank while trying to cash a $100 check in a case of mistaken identity that’s led to a court battle over $3.3 million. A bank teller mistook Valladares for a …
  The article Florida High Court to Decide on $3.3 Million Award to Man Mistaken for Bank Robber appeared first on Insurance Journal.
  
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• Regulators in West Virginia Cite 2 Companies in Fatal Mine Accidents

  03-09-2015 07:00
  
  Two companies have been cited by West Virginia regulators for alleged violations found during investigations of separate fatal mine accidents. The Office of Miners’ Health, Safety and Training issued two citations to Rogers Petroleum Services Inc. and eight citations to …
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• Tennessee Supreme Court Rules for Insurer in Assignment of Benefits Case

  03-09-2015 06:41
  
  The Tennessee Supreme Court has affirmed a Court of Appeals decision that a chiropractic patient’s assignment of benefits was not an effective assignment of his rights to insurance proceeds from a third party’s insurance company. The case stems from a …
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• Celebration of Life: Myron Fuller Steves Sr.

  03-09-2015 04:24
  
  Myron Fuller Steves Sr., founder of the Texas independent managing general agency and wholesale insurance broker, Myron Steves, passed away on Aug. 29, 2015, at the age of 103. Details of the celebration of his live are below: Visitation and Vigil …
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• Allianz Names Shumaker Team Leader in California

  03-09-2015 00:28
  
  Allianz Global Corporate & Specialty has named Matthew Shumaker to a team leader position for the Los Angeles, Calif. and Mountain states territory. Shumaker will be based out of the Irvine, Calif. field office. He will be responsible for leading …
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• Three Northern California Firms Rebrand to ‘Risico’

  03-09-2015 00:19
  
  Three jointly-owned insurance firms in Northern California are merging into a united corporate identity known as “Risico.” The firms involved are KRM Risk Management Services Inc., American All-Risk Loss Administrators Inc. and Total Managed Care Inc. All three specialize in …
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