Insurance news

• Updated: ‘Shadiest’ New Internet Addresses

  04-09-2015 20:17
  
  A new report warns that more than 95 percent of websites with new Internet addresses such as .zip, .kim or .party are suspicious. [See Editor’s Note below for update on .zip.] Internet security firm Blue Coat says its research of …
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• Mass. Health Spending Surged in 2014 Despite Efforts to Control Costs

  04-09-2015 18:59
  
  The cost of health care soared nearly 5 percent in Massachusetts last year despite efforts to hold down expenditures, according to a state report released Wednesday. The Center for Health Information and Analysis, an independent agency, said health care expenditures …
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• Wisconsin Firm Recalls Sausage Patties with Possible Metal Pieces

  04-09-2015 18:51
  
  A Wisconsin company is recalling roughly 89,000 pounds of pork sausage patties after officials say consumers complained of finding small pieces of metal. The U.S. Department of Agriculture said in a news release that the products from Kenosha Beef International …
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• Texas Oil Field Co. to Pay $30K to Settle EEOC Retaliation Suit

  04-09-2015 18:44
  
  An Iraan, Texas, oil field construction and services company will pay $30,000 and furnish other relief to settle a retaliation lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC’s suit, filed in U.S. …
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• Pittsburgh’s $375K Settlement Offer Leaves Chrysler Alone in Flash-Flood Suit

  04-09-2015 18:37
  
  The city of Pittsburgh’s recent decision to pay $375,000 to settle a lawsuit brought by families of four people killed in flash flooding leaves Chrysler as the remaining defendant. The Pennsylvania Department of Transportation, the Allegheny County Sanitary Authority, and …
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• Nebraska Flooring Company Fined $244K for Workplace Dangers

  04-09-2015 18:37
  
  Federal safety officials have placed a Norfolk, Neb., flooring manufacturer into a severe violator program for workplace safety hazards and attempting to hide those hazards from safety inspectors. U.S. Department of Labor Occupational Safety and Health Administration said MP Global Products LLC …
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• Judge OKs $415M Settlement in Worker Suit Against Silicon Valley Giants

  04-09-2015 18:17
  
  A U.S. judge has granted final approval to a $415 million settlement that ends a high profile lawsuit in which workers accused Apple, Google and two other Silicon Valley companies of conspiring to hold down salaries. The plaintiffs alleged that …
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• McCormick Joins Centauri Insurance as Sales Manager in Texas

  04-09-2015 18:16
  
  Joseph McCormick has joined Centauri Insurance as the company’s new regional sales manager for Texas. McCormick brings more than 26 years of sales and agency management experience to Centauri Insurance and is charged with expanding Centauri’s Texas residential property programs. …
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• Workers’ Comp Loss Costs Fall Again in Oklahoma

  04-09-2015 18:14
  
  Workers’ compensation rates in Oklahoma are expected to drop in 2016, the Oklahoma Insurance Department announced. The National Council on Compensation Insurance (NCCI) filed an overall loss cost decrease of 14.8 percent. This is the third straight year rates have …
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• Missouri Fines Insurer Safe Auto for Alleged Violations

  04-09-2015 18:13
  
  Missouri motorists insured by Safe Auto may receive a refund or credit following a market conduct examination conducted by the Missouri Department of Insurance. The department contends that the auto insurer failed to provide anti-theft discounts on vehicles that qualified …
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• New Hampshire’s HBL Group Joins North American Insurance Alliance

  04-09-2015 18:12
  
  North American Insurance Alliance (NAIA), an agency alliance based in Rangeley, Maine, announced that HBL Group LLC of Barrington, New Hampshire, has joined the alliance as a member agency. HBL Group is owned by partners Jeremy Lovett, president – Personal …
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• Preferred Mutual Hires Hill as Customer & Product Strategy VP in New York

  04-09-2015 17:56
  
  Preferred Mutual Insurance Company in New Berlin, New York, hired Andre Hill as vice president, customer and product strategy. Hill joins Preferred Mutual from First Niagara Bank in Buffalo, New York, where he held the position of senior vice president …
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• New Mexico County Declares Disaster after Storm

  04-09-2015 17:24
  
  The San Juan County Commission in New Mexico has declared a state of disaster following a violent storm that swept through Aztec and caused what officials estimate is more than $1 million in damage. The Daily Times reported the commission …
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• Oregon Court Rules Fraternity Can Be Sued by Rape Victim

  04-09-2015 17:22
  
  The Oregon Court of Appeals has ruled that an Oregon State University fraternity can be held liable for failing to shield a rape victim from harm. The Oregonian reported that the court ruled Wednesday that the woman can go forward …
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• Suit by Woman Who Said Uber Indian Driver Raped Her Dropped

  04-09-2015 17:19
  
  A woman who accused an Uber Technologies Inc. driver in India of raping and beating her during a ride home in December dropped her U.S. lawsuit against the company. No details were provided in a court filing saying that the …
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• RLI’s Stone to Retire at Year’s End; Kliethermes Named Successor

  04-09-2015 15:26
  
  Michael Stone, long-time president and chief operating officer of RLI Corp., is retiring at the end of 2015, ending 20-years of service at the Illinois-based specialty insurer. RLI said that Stone will continue to serve on the RLI board after …
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• Lloyd’s: Cities Hurt More by Market Crashes Than Natural Disasters

  04-09-2015 14:09
  
  A stock-market crash could erase as much as $170.3 billion from major cities’ gross domestic product in the U.S. and Canada and is the biggest threat to their economies, Lloyd’s of London said. The losses, which represent about 2 percent …
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• AIG to Freeze Employee Pension Plan, Switch to 401(k)s

  04-09-2015 13:47
  
  American International Group Inc., the insurer seeking to cut costs under Chief Executive Officer Peter Hancock, said it will halt employees’ existing pension program in the U.S. and instead focus on 401(k) accounts. Pensions will freeze on Jan. 1, 2016, …
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• Surplus Lines Posts Record-Breaking Year for 2014

  04-09-2015 12:00
  
  The surplus lines industry broke records in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion — the highest point in history, reports A.M. Best’s “2014 Special Report U.S. Surplus Lines – Segment Review.” Surplus lines insurers grew …
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• Cost of Tianjin Explosions Could Reach $3.3 Billion: Guy Carpenter

  04-09-2015 11:42
  
  The two massive explosions which hit China’s Port of Tianjin last month could generate insurance losses of up $3.3 billion, which more than doubles early estimates, according to a report released on Friday by Guy Carpenter. The report estimates damages …
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• Aon Benfield August Cat Report Highlights Global Droughts, El Niño, Typhoons

  04-09-2015 11:12
  
  The monthly report for August from Aon Benfield’s Impact Forecasting catastrophe model development team cites the “severe drought conditions” in the western U.S. as resulting in “economic losses expected to reach at least $3.0 billion – mostly attributable to agricultural …
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• Zurich Names Terryn General Insurance CEO, as Kerner Steps Down

  04-09-2015 11:04
  
  Zurich Insurance Group announced that Kristof Terryn, currently CEO of Global Life, will take over as CEO of General Insurance, effective October 1, 2015. He replaces Mike Kerner, who is stepping down for personal reasons and will be leaving the …
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• Hiscox Appoints Berg-Winters as Head of UK Claims

  04-09-2015 10:30
  
  Specialist global insurer Hiscox announced the appointment of Eva Berg-Winters as head of UK Claims. Berg-Winters joins Hiscox from strategy consultants OC&C, where she was an associate partner. Originally from Germany, she has spent time working at McKinsey & Company, …
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• Generali Appoints Hodges as Head of IT Systems

  04-09-2015 09:45
  
  Bruce M. Hodges will join the Generali Group as group head of Information Systems, effective October 1, 2015, the Trieste, Italy-based company announced. Hodges will be responsible for Generali’s global IT systems and application landscape, with a focus on modernizing …
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• Tier 1 Reinsurers More Resilient than Smaller Firms in Current Market: Fitch

  04-09-2015 09:25
  
  Major tier 1 reinsurers stand to benefit most from a changing reinsurance market and mounting competitive pressures, while small mono-line companies will be the hardest-hit, according to a reinsurance report published by Fitch. Reported financial results confirm that major Tier …
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• DUAL M&A Liability Team Open for Business in Frankfurt and London

  04-09-2015 08:38
  
  DUAL, the underwriting arm of the Hyperion Insurance Group, announced that its Frankfurt and London-based M&A Liability team is open for business. Niki Demirbilek joins as global head of M&A Insurance, supported by up to EUR/USD 50 million of A-rated …
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• DUAL M&A Liability Team Open for Business Frankfurt and London

  04-09-2015 08:38
  
  DUAL, the underwriting arm of the Hyperion Insurance Group, announced that its Frankfurt and London-based M&A Liability team is open for business. Niki Demirbilek joins as global head of M&A Insurance, supported by up to EUR/USD 50 million of A-rated …
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• North Carolina Man Accused of Defrauding Insurance Companies

  04-09-2015 07:16
  
  North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of William Jeffery Barnhardt, 65, of West End, Moore County; he is charged with two counts each of insurance fraud and obtaining property by false pretense. Department of Insurance criminal investigators …
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• West Virginia Residents Sue CSX Over Train Derailment

  04-09-2015 06:58
  
  A lawsuit has been filed against CSX Corp. on behalf of southern West Virginia residents living near the site of a fiery oil train derailment. Charleston attorney P. Rodney Jackson said that the lawsuit was filed for more than 200 …
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• North Carolina Lawmakers Try to Expand Number of Erosion-Controlling Structures

  04-09-2015 06:50
  
  Some legislators are once again trying to expand the number of certain erosion-controlling structures allowed by law along the North Carolina coast. This time, they’re trying to do it through the state budget. Republican budget negotiators confirmed Wednesday they’ve recommended …
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• Kentucky Finalizing Ignition Interlock Law for DUI Drivers

  04-09-2015 06:45
  
  Kentucky transportation officials say the state is getting close to finalizing details of a new law that will require some drunken drivers to get ignition interlock devices on their vehicles. Transportation Cabinet spokesman Chuck Wolfe told The Paducah Sun that …
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