Insurance news

• Oregon workers comp insurer to pay $120 million in dividends

  10-09-2015 21:35
  More than 47,000 Oregon employers will receive a total dividend of $120 million in October from the state’s nonprofit workers compensation insurer.
  
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• Professional liability division serves securities broker-dealers

  10-09-2015 21:07
  
  Pioneer Underwriting Ltd. said Thursday that it has launched a professional liability underwriting capability for securities broker-dealers.
  
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• Final PBGC rule eases employer reporting requirements

  10-09-2015 21:01
  
  A final Pension Benefit Guaranty Corp. rule will reduce reporting requirements for more than 90% of plan sponsors, the agency said Thursday.
  
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• Large pharmaceutical firm transferring pension liabilities to MetLife

  10-09-2015 20:17
  
  In the latest corporate move to reduce pension liability risk, West Pharmaceutical Services Inc. on Thursday said it is buying a group annuity contract to provide pension benefits to about 1,750 retirees and surviving beneficiaries.
  
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• New medical billing codes will aid workers compensation payers

  10-09-2015 19:45
  The devil is in the details, which is why things are about to get a lot easier for workers comp payers.
  
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• Aegon says reviewing U.K. annuities business

  10-09-2015 18:31
  (Reuters) — Dutch insurer Aegon N.V. said it was reviewing its U.K. annuities business after British pension reform has led to a halving in annuity sales.
  
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• Hawaii Homeowners Get $27M in Development Dispute

  10-09-2015 17:44
  
  A Hawaii jury has awarded Ewa Beach homeowners about $27 million in a lawsuit against a developer trying to build a recreational lagoon instead of the marina it originally planned. The jury ruled Tuesday that Haseko must pay $1,300 for …
  The article Hawaii Homeowners Get $27M in Development Dispute appeared first on Insurance Journal.
  
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• 34 Workers Killed On Job in Wyoming In 2014

  10-09-2015 17:41
  
  A higher-than-average number of workers died on the job in Wyoming last year. The Wyoming Department of Workforce Services said this week that 34 people died at work in Wyoming last year. That’s up from 26 in 2013 and close to …
  The article 34 Workers Killed On Job in Wyoming In 2014 appeared first on Insurance Journal.
  
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• California Employment Department Rules Former Uber Driver Was Employee

  10-09-2015 17:38
  
  Uber has lost another legal round in the dispute over whether its drivers are independent contractors or employees, an issue that threatens the core of the ride-hailing company’s business model. The California Employment Development Department (EDD) determined that a former …
  The article California Employment Department Rules Former Uber Driver Was Employee appeared first on Insurance Journal.
  
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• Business group seeks changes in Ontario workers comp program overhaul

  10-09-2015 16:18
  
  Provincial chamber of commerce wants to take a proactive, rather than reactive, approach to setting rates.
  
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• Markel Corp. to Acquire CATCo, Bermuda-Based ILS Specialist

  10-09-2015 14:53
  
  Markel Corporation and CATCo Investment Management Ltd. announced they have entered into an agreement whereby Markel will acquire substantially all of the assets of CATCo, a Bermuda-based specialist in insurance linked securities.* The transaction is subject to customary closing conditions …
  The article Markel Corp. to Acquire CATCo, Bermuda-Based ILS Specialist appeared first on Insurance Journal.
  
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• QBE Asia Pacific Appoints Allan as General Manager – Claims, Asia Pacific

  10-09-2015 14:27
  
  QBE Asia Pacific announced the appointment of Martin Allan to the role of general manager – Claims, Asia Pacific, with effect from September 8, 2015. In this role, Allan is responsible for managing the claims function and driving business efficiencies …
  The article QBE Asia Pacific Appoints Allan as General Manager – Claims, Asia Pacific appeared first on Insurance Journal.
  
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• Justice Department to Target Executives in White Collar Crime Push

  10-09-2015 14:19
  
  The U.S. Justice Department has issued new guidelines that emphasize prosecuting individual executives in white-collar crime cases, and not just their corporations. Deputy Attorney General Sally Yates, author of a memo outlining the rules for federal prosecutors, was to announce …
  The article Justice Department to Target Executives in White Collar Crime Push appeared first on Insurance Journal.
  
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• Mass. Worker Who Says She Was Fired for Legal Pot Use Files Suit

  10-09-2015 14:14
  
  A Massachusetts woman who says she was fired from work for using marijuana legally obtained to treat Crohn’s Disease has sued her former employer. Cristina Barbuto said in court papers that she told the Irvine, California-based Advantage Sales and Marketing …
  The article Mass. Worker Who Says She Was Fired for Legal Pot Use Files Suit appeared first on Insurance Journal.
  
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• Conn. Troopers Issued 1,930 Speeding Tickets During Labor Day Weekend

  10-09-2015 14:02
  
  The Connecticut troopers have issued 1,930 speeding tickets during the 2015 Labor Day weekend, the Connecticut State Police announced. The troopers patrolled the highways and roads in Connecticut over the Labor Day weekend. During this enforcement operation, troopers utilized both …
  The article Conn. Troopers Issued 1,930 Speeding Tickets During Labor Day Weekend appeared first on Insurance Journal.
  
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• Penn. to Hold Hearing on Balance Billing of Health Insurance Consumers

  10-09-2015 14:00
  
  Pennsylvania Insurance Commissioner Teresa Miller announced that her department will hold a public hearing on the issue of “balance billing” of health insurance consumers. Balance billing occurs when a patient receives a bill for health care from a provider who …
  The article Penn. to Hold Hearing on Balance Billing of Health Insurance Consumers appeared first on Insurance Journal.
  
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• RiskMatch Promotes Kagan to Chief Client Engagement Officer in Connecticut

  10-09-2015 13:59
  
  RiskMatch, a Greenwich, Connecticut-based business intelligence and analytics firm that provides insurance portfolio management and placement services to brokers and insurers, promoted Adam Kagan to chief client engagement officer. Kagan, who joined RiskMatch in 2013 as chief sales and marketing …
  The article RiskMatch Promotes Kagan to Chief Client Engagement Officer in Connecticut appeared first on Insurance Journal.
  
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• Codes for unusual diagnoses

  10-09-2015 13:00
  When the number of International Statistical Classification of Diseases and Related Health Problems codes denoting illnesses, conditions or situations increases to 69,000 from 14,000 on Oct.
  
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• Asta Managing Agency Launches Everest Syndicate 2786

  10-09-2015 12:05
  
  Asta Managing Agency Ltd. and Everest Re Group Ltd. announced the Lloyd’s Franchise Board has granted “in principle” approval to establish and manage a new dedicated corporate syndicate backed by Everest Re, with initial gross premium of £102 million ($151 …
  The article Asta Managing Agency Launches Everest Syndicate 2786 appeared first on Insurance Journal.
  
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• Marsh & McLennan Names Chief Information, Compliance Officers

  10-09-2015 12:00
  
  Marsh & McLennan Companies Inc. announced the appointment of E. Scott Gilbert as chief information officer. Gilbert, who previously served as Marsh & McLennan Companies’ chief risk and compliance officer, will continue to report to President and CEO Dan Glaser …
  The article Marsh & McLennan Names Chief Information, Compliance Officers appeared first on Insurance Journal.
  
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• Willis Re Report: Capital Growth Eases as M&A, Capital Mgmt. Accelerate

  10-09-2015 11:33
  
  In its most recent Reinsurance Market Report Willis Re, the reinsurance division of Willis Group Holdings plc, notes: “Faced with significant over-capacity and widespread pricing pressure, the growth in global capital dedicated to reinsurance has stabilized during the first half …
  The article Willis Re Report: Capital Growth Eases as M&A, Capital Mgmt. Accelerate appeared first on Insurance Journal.
  
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• Heavy Rains Cause Floods in Japan; Thousands Evacuated; Fukushima Leak

  10-09-2015 11:23
  
  A city near Tokyo declared a state of emergency and ordered thousands of residents to evacuate after torrential rain caused severe flooding. The storm caused contaminated water from the wrecked Fukushima nuclear plant to leak into the ocean. The Kinugawa …
  The article Heavy Rains Cause Floods in Japan; Thousands Evacuated; Fukushima Leak appeared first on Insurance Journal.
  
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• Update: Lloyd’s of London H1 Profit Decreases 28% on Competitive Pressures

  10-09-2015 11:22
  
  Lloyd’s of London insurance market posted a 28 percent drop in first-half pretax profit on Thursday and said pricing remained tough in a competitive market. The insurance and reinsurance markets have attracted new players in recent years, drawn by high …
  The article Update: Lloyd’s of London H1 Profit Decreases 28% on Competitive Pressures appeared first on Insurance Journal.
  
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• Lloyd’s Reports $1.87 Billion Pre-Tax Profit for First Six Months

  10-09-2015 11:22
  
  Lloyd’s announced a pre-tax profit of US$1.87 billion (£1.19 billion) for H1 of 2015 and a combined ratio of 89.5 percent. Other highlights for the first six months include: Pre-tax profit of US$1.87 billion (£1.19 billion); (H1 2014: £1.65 billion). …
  The article Lloyd’s Reports $1.87 Billion Pre-Tax Profit for First Six Months appeared first on Insurance Journal.
  
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• Helmet Technology Could Signal Concussions During Games

  10-09-2015 11:00
  
  When the Steelers and Patriots clash on Thursday night in football’s season opener, you’ll see 250-pound men slam into each other, head to head, at high speed. And get concussions? There’s no easy way to tell. That goes for young …
  The article Helmet Technology Could Signal Concussions During Games appeared first on Insurance Journal.
  
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• Immigrants in Georgia Sue Over Driver’s Licenses

  10-09-2015 09:40
  
  A group of immigrants whose legal residency is disputed sued Georgia’s state government August 31 for refusing to issue them driver’s licenses. The Atlanta Journal-Constitution reports the federal lawsuit accuses the Georgia Department of Driver Services of violating the constitutional …
  The article Immigrants in Georgia Sue Over Driver’s Licenses appeared first on Insurance Journal.
  
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• Insurance Costs to Decrease in Mississippi County After Fire Ratings Lowered

  10-09-2015 09:35
  
  The Mississippi Rating Bureau has lowered the fire ratings in two areas of West Jackson County, Miss., a move that can lower fire insurance costs for homeowners and businesses. The Sun Herald reports the Mississippi State Rating Bureau lowered the …
  The article Insurance Costs to Decrease in Mississippi County After Fire Ratings Lowered appeared first on Insurance Journal.
  
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• Energi of Canada Launches P&C Program for Energy Construction

  10-09-2015 09:23
  
  Energi of Canada has launched a new property & casualty program for energy construction. The new energy construction program offers risk management services and insurance coverage for contractors in the following segments: Water/sewer and excavation contractors Cable, TV, telephone, and …
  The article Energi of Canada Launches P&C Program for Energy Construction appeared first on Insurance Journal.
  
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• AssuredPartners Acquires Nashville Broker Bandy Van Cleave & Williamson

  10-09-2015 09:16
  
  AssuredPartners Inc. has acquired Bandy Van Cleave & Williamson of Nashville, Tenn. The agency’s staff will continue to operate from their Nashville location under the local leadership of Bob Van Cleave and Chuck Williamson. Bandy Van Cleave & Williamson provide …
  The article AssuredPartners Acquires Nashville Broker Bandy Van Cleave & Williamson appeared first on Insurance Journal.
  
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• North Carolina Governor Approves Ridesharing Regulations

  10-09-2015 09:14
  
  Gov. Pat McCrory has signed into law state regulations for ridesharing companies where potential customers use smartphone apps to hail drivers and complete cashless transactions. McCrory signed the legislation Sept. 4 at the Charlotte Chamber of Commerce. He says the …
  The article North Carolina Governor Approves Ridesharing Regulations appeared first on Insurance Journal.
  
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• Allied Insurance Brokers, ProSight Launch Program for Crane Industry

  10-09-2015 09:07
  
  Allied Insurance Brokers has partnered with ProSight Specialty Insurance to offer an all-lines insurance program specifically tailored for the crane industry. The program includes risk management tools, loss control options, and specialty claims management services. This coverage is available nationwide …
  The article Allied Insurance Brokers, ProSight Launch Program for Crane Industry appeared first on Insurance Journal.
  
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• More Crashes Cause Ohio Car Insurance Rates to Climb

  10-09-2015 07:46
  
  An uptick in vehicle crashes in Ohio may be denting motorists’ wallets, along with their cars and trucks. The Columbus Dispatch reports several insurers have begun raising rates because of rising claims. Geico, the No. 5 insurance carrier in Ohio, …
  The article More Crashes Cause Ohio Car Insurance Rates to Climb appeared first on Insurance Journal.
  
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• No-Penalty Policy a Standard for Oil Wastewater Spills, Critics Say

  10-09-2015 07:42
  
  In April 2013, a malfunctioning oil well in the countryside north of Oklahoma City caused storage tanks to overflow, sending 42,000 gallons of briny wastewater hurtling over a dike, across a wheat field and into a farm pond. State regulators …
  The article No-Penalty Policy a Standard for Oil Wastewater Spills, Critics Say appeared first on Insurance Journal.
  
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• Pinnacle Adds Parmenter as Consulting Actuary

  10-09-2015 07:38
  
  Brett Parmenter has joined Pinnacle Actuarial Resources Inc. as a consulting actuary in its Chicago office. Parmenter comes to Pinnacle with over 10 years of experience in the property/casualty practice area and has considerable experience with both primary commercial insurance and …
  The article Pinnacle Adds Parmenter as Consulting Actuary appeared first on Insurance Journal.
  
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• Republicans’ Suit Against Obamacare Insurer Reimbursements Advances

  10-09-2015 05:55
  
  Congressional Republicans were allowed by a judge to pursue their lawsuit accusing the Obama administration of violating the Constitution by spending money on the president’s signature legislative achievement, the Affordable Care Act. A federal judge in Washington on Wednesday declined …
  The article Republicans’ Suit Against Obamacare Insurer Reimbursements Advances appeared first on Insurance Journal.
  
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• AIG, Axis Insure Adultery Website AshleyMadison: Report

  10-09-2015 05:48
  
  American International Group Inc. and Axis Capital Holdings Ltd. are among insurers for the company that owns AshleyMadison.com, the adultery website hacked in a breach that exposed more than 37 million users, people familiar with the policies said. AIG provided …
  The article AIG, Axis Insure Adultery Website AshleyMadison: Report appeared first on Insurance Journal.
  
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• TDI Posts Summary of Bills Affecting Property/Casualty Insurers

  10-09-2015 03:30
  
  The Texas Department of Insurance has produced a summary of various bills passed by the Texas Legislature this year that impact property/casualty insurance companies. Many but not all of the following were effective Sept. 1: House Bills HB 1733   Auto Liability …
  The article TDI Posts Summary of Bills Affecting Property/Casualty Insurers appeared first on Insurance Journal.
  
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• Fayetteville Voters Approve Anti-Discrimination Measure

  10-09-2015 03:07
  
  Voters in Fayetteville, Ark., have adopted a civil rights ordinance that would to ban discrimination based on sexual orientation or gender identity in a vote that could put the community in conflict with a state law barring such protections. Fayetteville …
  The article Fayetteville Voters Approve Anti-Discrimination Measure appeared first on Insurance Journal.
  
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• Jury Awards $5.5M to Family of Man Killed by Cleveland Cop

  10-09-2015 02:40
  
  The family of a man fatally shot in the head by a Cleveland, Ohio, policeman was awarded $5.5 million by a federal jury in a civil case that found the officer liable for using excessive force. The decision comes more …
  The article Jury Awards $5.5M to Family of Man Killed by Cleveland Cop appeared first on Insurance Journal.
  
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