Insurance news

• Who Will Be Next? M&A Trends to Be Eyed at Monaco Reinsurance Meeting

  11-09-2015 19:37
  
  A prolonged decline in global reinsurance prices is spurring merger moves in the sector, with many executives attending next week’s annual industry meeting in Monte Carlo eyeing who might next become predator or prey. While the $600 billion industry, which …
  The article Who Will Be Next? M&A Trends to Be Eyed at Monaco Reinsurance Meeting appeared first on Insurance Journal.
  
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• Millennials highly optimistic about insurance industry, plan to stay as long as possible

  11-09-2015 19:20
  
  Vertafore survey details what the younger generation values in the insurance industry, the jobs they fill, and how they compare to baby boomers.
  
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• Floods leave 3 dead, 23 missing after record Japan rains

  11-09-2015 18:51
  
  Record-breaking rain accumulated in some areas between Sept. 7-10, which means the Kanto region around Tokyo must stay on alert for floods and landslides.
  
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• NYC Credit Unions Face Risks From Taxi Industry Woes

  11-09-2015 17:30
  
  New York credit unions that have run up large exposures to the city’s iconic yellow cabs are facing a sharp increase in loan losses after a judge threw out a legal challenge to ride-hailing service Uber Technologies Inc. Four credit …
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• Missouri workers comp rate reduction recommended

  11-09-2015 17:23
  The National Council on Compensation Insurance Inc. has recommended a 2.4% decrease in Missouri workers compensation loss cost rates for 2016, state insurance regulators said Thursday.
  
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• Uncertainty Reigns Over Future of 9/11 Health Programs

  11-09-2015 17:20
  
  Two federal programs that promised billions of dollars in compensation and medical care to sick 9/11 responders and survivors are set to expire next year, meaning a new round of uncertainty for people exposed to the toxic dust that fell …
  The article Uncertainty Reigns Over Future of 9/11 Health Programs appeared first on Insurance Journal.
  
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• Fun fact of the week: Which country consumes the most chocolate?

  11-09-2015 17:20
  
  Thankfully, there are few safety concerns or product recalls when it comes to chocolate—which should provide some comfort to insurance carriers whose clients produce candy, chocolate syrup and other delectable items.
  
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• California Employers Warned about High Heat as Temperatures Soar

  11-09-2015 17:00
  
  Cal/OSHA is warning all employers throughout the entire state to consider protecting their outdoor workers from heat illness. The National Weather Service has issued high heat advisories and excessive heat warnings for portions of Northern and Southern California. The increasing …
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• Final thoughts: NAPSLO’s Hank Haldeman

  11-09-2015 16:30
  
  Hank Haldeman reflects on the accomplishments and progress made during his term as president of NAPSLO.
  
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• New Food Safety Rules Aim to Avoid Another Blue Bell

  11-09-2015 16:24
  
  Sweeping new rules meant to curtail food borne illnesses that sicken one in six Americans each year will require food companies to create and follow new preventive safety measures, U.S. regulators announced on Sept. 10. The rules require food companies to develop …
  The article New Food Safety Rules Aim to Avoid Another Blue Bell appeared first on Insurance Journal.
  
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• Society of Actuaries names president-elect

  11-09-2015 16:15
  
  The Society of Actuaries has elected Jeremy J. Brown, the former chief actuary of Mutual of America Life Insurance Co., as its 2015-2016 president-elect.
  
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• Kraft Heinz to shift some retirees to private exchange

  11-09-2015 16:05
  
  The Kraft Heinz Co. will stop offering employer-sponsored health coverage to some of its retirees at the end of this year.
  
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• AIG Loses Appeal Over Foreign Tax Credits

  11-09-2015 15:05
  
  A U.S. appeals court on Wednesday rejected efforts by American International Group Inc. and Bank of New York Mellon Corp. to recoup hundreds of millions of dollars of foreign tax credits that the Internal Revenue Service did not allow. By …
  The article AIG Loses Appeal Over Foreign Tax Credits appeared first on Insurance Journal.
  
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• People on the move in the insurance industry: Sept. 11, 2015

  11-09-2015 14:49
  
  Hires and promotions at CNA, Marsh, Liberty Mutual, Grange Insurance and more.
  
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• NAPSLO 2015 Opening Reception and day two in photos

  11-09-2015 14:05
  
  NU-PC brings you more pictures from NAPSLO 2015, including highlights from the Opening Reception and Thursday's activities.
  
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• Marsh Makes Offer for Jelf Group, UK-Based Independent Broker

  11-09-2015 14:04
  
  Marsh announced it has made an offer to acquire the entire ordinary share capital of Jelf Group plc, a UK-based independent insurance broker and financial services consultancy. The transaction, which is subject to customary conditions, including approval by the regulatory …
  The article Marsh Makes Offer for Jelf Group, UK-Based Independent Broker appeared first on Insurance Journal.
  
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• SullivanCurtisMonroe Taps Wallace and Werley in California

  11-09-2015 14:00
  
  SullivanCurtisMonroe has named Rob Wallace as a vice president in its Los Angeles, Calif. office, and Chad Werley as a broker associate in its Irvine, Calif. location. Wallace develops strategies to reduce risk and improve operational outcomes, with a focus …
  The article SullivanCurtisMonroe Taps Wallace and Werley in California appeared first on Insurance Journal.
  
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• Remembering September 11th

  11-09-2015 14:00
  
  Over a decade later, the sights and memories of that day are still very real.
  
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• Hub Acquires Assets of California-Based Howitt Benefit Services

  11-09-2015 14:00
  
  Hub International Ltd. has acquired the assets of Howitt Benefit Services in San Jose, Calif. Terms of the deal were not disclosed. Nancy Howitt, Howitt’s president and client service supervisor, will join Hub California and report to Darren Caesar, senior …
  The article Hub Acquires Assets of California-Based Howitt Benefit Services appeared first on Insurance Journal.
  
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• Lloyd’s achieved profits of $1.87 billion for 1st half of 2015

  11-09-2015 13:50
  
  According to the combined ratio, which reflects 2015 first half results of the market’s 96 syndicates, Lloyd’s outperformed its competitors for the fourth consecutive year.
  
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• 6 tips for safely cleaning up household hazardous waste after a storm

  11-09-2015 13:30
  
  The EPA advises that, after a storm, people be alert for leaking containers and household chemicals, such as caustic drain cleaners and chlorine bleach.
  
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• New ILS Records Set During 12 Months Ended June 30: Aon Securities Report

  11-09-2015 13:19
  
  Annual catastrophe bond issuance reached $7.0 billion – a decrease on the record-breaking prior year ($9.4 billion), yet still the third highest annual issuance in the sector’s history, according to Aon Securities, the investment banking division of Aon Benfield. Twenty-five …
  The article New ILS Records Set During 12 Months Ended June 30: Aon Securities Report appeared first on Insurance Journal.
  
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• 5 key ideas for new insurance agents

  11-09-2015 12:34
  
  Succeeding in a competitive industry like insurance is difficult, but it's easier if you have the right mindset.
  
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• Are you prepared for a cyber attack?

  11-09-2015 12:15
  
  While cyber security issues affect many industries, the insurance industry is particularly susceptible to being targeted.
  
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• Third Point Re: ‘It’s Tough Out There’ with Ongoing Influx of Capital Market Capacity

  11-09-2015 11:22
  
  Executives at Dan Loeb’s reinsurer, which is headed for its second-straight annual decline in New York trading, told investors not to count on a quick rebound in the industry as competition intensifies. “It’s tough out there,” Robert Bredahl, Third Point …
  The article Third Point Re: ‘It’s Tough Out There’ with Ongoing Influx of Capital Market Capacity appeared first on Insurance Journal.
  
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• Woodford Investment Cashes in Amlin Stake After Record Takeover Offer

  11-09-2015 10:40
  
  Neil Woodford cashed in his entire 107.5 million-pound ($166 million) stake in Amlin Plc after Tuesday’s takeover offer by a Japanese competitor sent the Lloyd’s of London insurer’s shares to a record high. The fund manager sold 16.4 million Amlin …
  The article Woodford Investment Cashes in Amlin Stake After Record Takeover Offer appeared first on Insurance Journal.
  
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• Japan Flooding After Record Rains Leaves 3 Dead, 23 Missing

  11-09-2015 10:25
  
  Three people died and 23 were missing in floods after record rains burst the banks of two rivers in Japan in two days, public broadcaster NHK said. The Shibuigawa river in Miyagi Prefecture, an area hit by the record 2011 …
  The article Japan Flooding After Record Rains Leaves 3 Dead, 23 Missing appeared first on Insurance Journal.
  
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• China’s Fosun to Raise $1.5 Billion to Fund Insurance & Banking Acquisitions

  11-09-2015 10:16
  
  Fosun International Ltd., Chinese billionaire Guo Guangchang’s conglomerate that has bought insurers and real estate around the world, proposed raising HK$11.7 billion ($1.5 billion) in a rights offer to fund its push into the banking and insurance industries. The company plans to …
  The article China’s Fosun to Raise $1.5 Billion to Fund Insurance & Banking Acquisitions appeared first on Insurance Journal.
  
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• New York Health Insurer’s Data Breach Puts 10M Records at Risk

  11-09-2015 09:07
  
  Upstate New York health insurer Excellus BlueCross BlueShield on Wednesday said its computer systems and those at affiliates had been breached, exposing data from more than 10 million members, in the latest case to show the industry is still struggling …
  The article New York Health Insurer’s Data Breach Puts 10M Records at Risk appeared first on Insurance Journal.
  
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• Judge Strikes Down N.Y. Town’s Day Laborer Law as Unconstitutional

  11-09-2015 09:06
  
  A federal judge has struck down as unconstitutional a suburban New York town’s law banning day laborers from soliciting for work on public sidewalks, declaring its broad application could affect children selling lemonade in their driveway. U.S. District Court Judge …
  The article Judge Strikes Down N.Y. Town’s Day Laborer Law as Unconstitutional appeared first on Insurance Journal.
  
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• XL Catlin Introduces Commercial Crime Insurance Policy

  11-09-2015 08:55
  
  To help businesses recover from the financial repercussions of corporate crime, XL Catlin’s Global Crime business has introduced a new commercial crime  insurance policy in the US. According to Greg Bangs, chief underwriting officer of XL Catlin’s Global Crime insurance …
  The article XL Catlin Introduces Commercial Crime Insurance Policy appeared first on Insurance Journal.
  
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• Tennessee Supreme Court to Decide Police Power During Traffic Stops

  11-09-2015 08:49
  
  The Tennessee Supreme Court is hearing two cases that could have justices deciding how many times drivers have to cross a painted line on the road before officers can pull them over. The two driving under the influence cases, which …
  The article Tennessee Supreme Court to Decide Police Power During Traffic Stops appeared first on Insurance Journal.
  
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• Florida-Based Prepared Holdings to be Acquired by Meridian

  11-09-2015 08:44
  
  Prepared Holdings, LLC, the holding company for Prepared Insurance Co., has entered into a definitive merger agreement with Meridian Insurance Holdings, Inc., a private investment group, under which Prepared will be acquired by Meridian. It is anticipated that Meridian will …
  The article Florida-Based Prepared Holdings to be Acquired by Meridian appeared first on Insurance Journal.
  
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• Mississippi Highway Patrol Issued Nearly 5,000 Citations Over Labor Day

  11-09-2015 08:35
  
  Officials with the Mississippi Highway Patrol have released the numbers for the 2015 Labor Day enforcement period. Captain Johnny Poulos tells The Sun Herald the highway patrol issued 4,925 citations with 109 DUI arrests. 132 motor vehicle crashes were investigated …
  The article Mississippi Highway Patrol Issued Nearly 5,000 Citations Over Labor Day appeared first on Insurance Journal.
  
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• Money Lacking to Replace, Repair Missouri’s Bridges

  11-09-2015 07:47
  
  Hundreds of bridges across Missouri need repairs or replacing but the state agency that oversees bridges doesn’t have the money for the work, according to transportation officials. The Missouri Department of Transportation says it’s still paying off debt it assumed …
  The article Money Lacking to Replace, Repair Missouri’s Bridges appeared first on Insurance Journal.
  
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• Can U.S. P/C Insurers Handle Equity Market Volatility?

  11-09-2015 07:40
  
  While some are more exposed than others, U.S. property/casualty insurers generally can handle more significant deterioration in global equity market conditions while maintaining capital positions consistent with current ratings, according to analysts at Fitch Ratings. U.S. P/C insurance companies traditionally …
  The article Can U.S. P/C Insurers Handle Equity Market Volatility? appeared first on Insurance Journal.
  
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• Ade Named Starr Companies’ Regional VP for Midwest Region

  11-09-2015 07:36
  
  Starr Companies has appointed Oliver Ade as regional vice president for the Midwest Region. Ade will be located in Starr’s Chicago office, where he will be responsible for the field leadership in the Midwest. Ade has been in the insurance …
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• How Independent Agents Can Give Customers What They Expect

  11-09-2015 07:30
  
  Whether you are the owner of a local agency or the CEO of a large public broker – it feels like there is less and less oxygen in the room. Organic sales growth is tough; merger & acquisition activity in …
  The article How Independent Agents Can Give Customers What They Expect appeared first on Insurance Journal.
  
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• Court Narrows Investment Firms’ Claims Against AIG

  11-09-2015 07:26
  
  American Group International Group Inc. won a decision that narrowed the claims by six investment funds that opted out of a $970.5 million class-action settlement last year over allegations the insurer misled investors about its exposure to subprime mortgages. U.S. …
  The article Court Narrows Investment Firms’ Claims Against AIG appeared first on Insurance Journal.
  
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• Hurricane Museum Seeks to Close $15M Funding Gap

  11-09-2015 07:21
  
  Ten years after back-to-back storms Katrina and Rita galvanized plans for a Lake Charles, La., museum focused on hurricanes, supporters have secured about $42 million in pledges to build it. The Advocate reports supporters are now focused on closing a …
  The article Hurricane Museum Seeks to Close $15M Funding Gap appeared first on Insurance Journal.
  
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• Wisconsin School to Pay $69K to Settle Age, Sex Bias Suit

  11-09-2015 07:12
  
  Renaissance School, a voucher school located in Racine, Wis., will pay $69,000 to settle employment discrimination litigation brought by U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. EEOC said its investigation found that, after hiring Boro Bosovich as …
  The article Wisconsin School to Pay $69K to Settle Age, Sex Bias Suit appeared first on Insurance Journal.
  
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• D&O claims rise while rates decline

  11-09-2015 06:30
  
  Selling D&O insurance can be complicated but it's also worth the effort.
  
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• NAPSLO Panel: Tech Disruption May be Good for E&S Market

  11-09-2015 02:03
  
  “There are no rules. If you can figure out how to quantify a risk and define it, then you can insure it.” Hank Haldeman, president of the board of directors for the National Association of Professional Surplus Lines Offices, sounded …
  The article NAPSLO Panel: Tech Disruption May be Good for E&S Market appeared first on Insurance Journal.
  
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• Texas Oil Wells Services Company Cited for Rig Fatalities

  11-09-2015 02:02
  
  Federal safety officials have cited a Texas oil well services company in the deaths of three workers killed while working to install a blowout preventer, which seals, controls and monitors a rig. The Occupational Safety and Health Administration (OSHA) said …
  The article Texas Oil Wells Services Company Cited for Rig Fatalities appeared first on Insurance Journal.
  
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• Louisiana Commissioner: Healthcare Connections Unrelated to Health Co-Op

  11-09-2015 01:20
  
  Louisiana Insurance Commissioner Jim Donelon says Louisiana Healthcare Connections is open for business in the state and should not be confused with the Louisiana Health Cooperative, a struggling health maintenance organization (HMO) created under the Affordable Care Act. Last week, …
  The article Louisiana Commissioner: Healthcare Connections Unrelated to Health Co-Op appeared first on Insurance Journal.
  
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• Louisiana Commissioner: Healthcare Connections Separate from Health Co-Op

  11-09-2015 01:20
  
  Louisiana Insurance Commissioner Jim Donelon says Louisiana Healthcare Connections is open for business in the state and should not be confused with the Louisiana Health Cooperative, a struggling health maintenance organization (HMO) created under the Affordable Care Act. Last week, …
  The article Louisiana Commissioner: Healthcare Connections Separate from Health Co-Op appeared first on Insurance Journal.
  
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