Insurance news

• Nonprofit hospitals becoming health insurers

  25-09-2015 22:19
  Nonprofit hospital systems are expected to become more prevalent in the commercial health insurance industry in the next several years, according to Moody's Investors Service Inc.
  
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• More Democrats get on board against Cadillac tax

  25-09-2015 21:32
  Congressional support of legislation to repeal the health care reform law’s Cadillac tax on costly plans is, for the first time, picking up broad support from Senate Democrats.
  
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• Horizon uncovers insurance scammers - Asbury Park Press

  25-09-2015 20:52 via
  Asbury Park Press
  Horizon uncovers insurance scammers
  Asbury Park Press
  NEWARK Horizon Blue Cross Blue Shield of New Jersey will notify 1,115 policyholders that insurance scammers, who posed as doctors, may have accessed some member information, such as identification numbers, the company said Friday. The information ...and more »
  

• Transamerica to buy Mercer's defined contribution administration business

  25-09-2015 20:19
  Mercer L.L.C. on Friday said it will sell its U.S. defined contribution administration business to Transamerica Retirement Solutions L.L.C.
  
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• Transamerica to buy Mercer’s defined contribution administration business

  25-09-2015 20:19
  
  Mercer L.L.C. on Friday said it will sell its U.S. defined contribution administration business to Transamerica Retirement Solutions L.L.C.
  
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• Gummy bear maker, chocolatier argue sweet treats trademark

  25-09-2015 20:13
  Germany’s Zurich Federal Court of Justice tossed out gummy bear maker Haribo’s claim Wednesday against the chocolate treat maker, Lindt.
  
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• Obama says he and China’s Xi agree on steps to curb cyber spying

  25-09-2015 20:12
  (Reuters) —President Barack Obama announced on Friday that he and Chinese President Xi Jinping had reached a “common understanding” on steps to curb cyber spying and agreed that neither government would conduct economic espionage in...
  
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• Obama says U.S., China agree to curb hacking company secrets

  25-09-2015 19:52
  
  The U.S. and China announced agreement on broad anti-hacking principles aimed at stopping the theft of corporate trade secrets.
  
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• Slip and fall leads to disability pension, health insurance for police officer

  25-09-2015 19:50
  An injured Illinois police officer who received a line-of-duty disability pension is entitled to health insurance benefits pursuant to the Public Safety Employee Benefits Act, the state Supreme Court has ruled.
  
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• Resigning Speaker Boehner left mark on PBGC, opposed health care law

  25-09-2015 19:37
  
  Speaker of the House John Boehner will resign at the end of next month, the Ohio Republican disclosed Friday.
  
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• El Nino destroyed the Atlantic hurricane season

  25-09-2015 19:14
  
  While there have been nine named storms and hurricanes in the ocean in 2015, none caused major problems to the U.S.
  
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• Oklahoman Sued for Libel by Wife of ‘Dog the Bounty Hunter’

  25-09-2015 18:52
  
  The wife of reality TV star “Dog the Bounty Hunter” is suing a former Fort Gibson, Okla.-area bondsman for libel. Beth Chapman claims that Lionel “Lenny” Biggers coordinated a “rampage of character attacks” against her on social media. The Tahlequah …
  
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• New York Regulator Issues 1st Virtual Currency License to Company

  25-09-2015 18:51
  
  New York State regulators have approved their first license to a company dealing in virtual currency such as bitcoin. Circle Internet Financial has outlined security, capitalization, controls against money laundering and other measures intended to protect consumers and root out …
  
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• Planning the Special Event Insurance for Pope’s Philadelphia Visit

  25-09-2015 18:49
  
  Pope Francis’ two-day visit to Philadelphia this weekend, which will close the Holy Father’s six-day apostolic journey to the U.S., has a special event policy in place with W.R. Berkley Corp. and OneBeacon Insurance as lead underwriters, according to a …
  
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• Bill Gates' foundation sues Brazil's Petrobras over stock losses

  25-09-2015 18:49
  (Reuters) — The Bill & Melinda Gates Foundation has sued Brazil’s Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company.
  
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• Louisiana P/C Commission: Worker’s Comp Market ‘Remains Competitive’

  25-09-2015 18:44
  
  In its annual report to the Legislature for 2014-2015, the Louisiana Property & Casualty Insurance Commission noted that the workers’ compensation market in the state “remains competitive.” There were 246 insurance companies providing workers’ compensation insurance in Louisiana in 2014, …
  
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• Expert: Kansas Fracking Restrictions Coincide with Less Intense Quakes

  25-09-2015 18:32
  
  A limit on the injection of saltwater into the ground by oil producers coincided with less intense earthquakes in south-central Kansas, according to a state geologist. The reduction in the magnitude of earthquakes mirrored the adoption of the Kansas Corporation …
  
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• Ohio Town Ordered to Put Anti-Fracking Issue Back on Ballot

  25-09-2015 18:31
  
  The Ohio Supreme Court has ruled that an anti-fracking measure in Youngstown must be put back on fall ballots. In a unanimous decision, the high court said the Mahoning County Board of Elections lacked the authority not to certify an …
  
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• Texas Associates Insurors Adds Peterson as Risk Advisor

  25-09-2015 18:29
  
  Texas Associates Insurors announced that Erik Peterson has joined the agency as a risk and insurance advisor, specializing in medical device, servicing and malpractice risk. Peterson has experience in the industrial and medical device industries. His tenure in the insurance …
  
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• Great American Insurance Names Niehaus Property/Casualty Sr. VP

  25-09-2015 18:27
  
  Great American Insurance Group based in Cincinnati, Ohio, has named James (Jim) R. Niehaus was named senior vice president and chief information officer of its Property and Casualty Group. Niehaus joined the Great American in 2007 as divisional assistant vice president …
  
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• ACE Launches $100M Cyber Security Facility for Large Corporations

  25-09-2015 18:22
  
  ACE Group has launched ACE’s Global Cyber Facility to offer cyber security insurance protection for large corporations. ACE’s Global Cyber Facility provides up to $100 million of primary capacity and incorporates integrated loss control services provided by cyber security experts, …
  
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• Short-Term-Care Insurance Policies on the Rise - Kiplinger Personal Finance

  25-09-2015 18:18 via
  Kiplinger Personal Finance
  Short-Term-Care Insurance Policies on the Rise
  Kiplinger Personal Finance
  These policies are light on price but also on coverage, leading some experts to question whether the policies offer real value to consumers. By Eleanor LaiseSee my bio, plus links to all my recent stories., From Kiplinger's Retirement Report, October ...and more »
  

• BB&T Insurance Holdings CEO to retire

  25-09-2015 18:02
  
  H. Wade Reece will retire as chairman and CEO of BB&T Insurance Holdings Inc., and be succeeded by John Howard, vice chairman and CEO of the Wholesale and Specialty Division of BB&T Insurance Holdings, the company said in a statement.
  
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• BB&T Insurance CEO to retire

  25-09-2015 18:02
  H. Wade Reece will retire as chairman and CEO of BB&T Insurance Holdings Inc., and be succeeded by John Howard, vice chairman and CEO of the Wholesale and Specialty Division of BB&T Insurance Holdings, the company said in a statement.
  
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• No Coverage for Tony Stewart in Ward Race Car Death: Axis Insurance

  25-09-2015 17:58
  
  Axis Insurance says the lawsuit brought against racing star Tony Stewart, whose car struck and killed another racer during a New York event in 2014, is not covered by the insurance policies it issued for Stewart. Axis maintains that its …
  
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• Construction firms cited for safety violations after collapse

  25-09-2015 17:58
  The Occupational Safety and Health Administration has cited and issued combined proposed penalties of $151,200 to a construction contractor and a temporary staffing agency for alleged workplace safety violations related to an excavation collapse in...
  
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• Aluminum factory injury leads to OSHA fines

  25-09-2015 17:54
  
  The Occupational Safety and Health Administration has cited and issued a proposed $308,000 fine to an aluminum company after an employee suffered a broken leg while operating a crane, the administration announced on Wednesday.
  
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• Bungalow Insurance wants to be Amazon for the insurance industry - Technical.ly

  25-09-2015 17:53 via
  Technical.ly
  Bungalow Insurance wants to be Amazon for the insurance industry
  Technical.ly
  Founded by a pair of Wharton MBAs, Bungalow Insurance is kind of an oddity in the startup world. Its founders want to shake up the insurance industry — but not too violently and not too fast. 7 cool projects we saw at Nexus MaximusPrevious ...
  

• Ace's Juan C. Andrade tapped as executive VP for new Chubb Group

  25-09-2015 17:32
  
  Ace Ltd. intends to appoint Juan C. Andrade executive vice president of the new Chubb Group and president of the international nonlife insurance division, effective upon completion of Ace's acquisition of Chubb Corp., Ace announced Friday.
  
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• Ace's Juan C. Andrade tapped as executive vice president for new Chubb Group

  25-09-2015 17:32
  Ace Ltd. intends to appoint Juan C. Andrade executive vice president of the new Chubb Group and president of the international nonlife insurance division, effective upon completion of Ace's acquisition of Chubb Corp., Ace announced Friday.
  
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• California Court Rules Batmobile Entitled to Copyright Protection

  25-09-2015 17:11
  
  Batman won’t have to worry about Batmobile knockoffs after a federal appeals court ruled Wednesday the caped crusader’s vehicle is entitled to copyright protection. The Batmobile’s bat-like appearance and other distinct attributes, including its high-tech weaponry, make it a character …
  
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• Fun fact of the week: Most high-net-worth individuals are in the Asia-Pacific Region

  25-09-2015 16:41
  
  In business as well as in investigations it pays to “follow the money,” especially when you want to sell insurance coverage to high net worth individuals (HNWIs).
  
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• Networked Brings on Stankowich and Hermsmeyer in California

  25-09-2015 16:40
  
  Networked Insurance Agents has named Joe Stankowich sales vice president and the key point of contact for independent agency members in California’s San Francisco Bay, East Bay, Silicon Valley and Central Valley regions. Stankowich will assist agencies with Networked’s market …
  
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• Ace offers $100 million cyber policies with added services, scrutiny

  25-09-2015 16:19
  
  (Reuters) — Insurer Ace Ltd. plans to start offering cyber security policies providing up to $100 million in coverage at a time when experts say it is hard for businesses to obtain such large coverage following the surge in high-profile breaches.
  
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• Insurance coverage you may not know about - KOMO News

  25-09-2015 15:11 via
  KOMO News
  Insurance coverage you may not know about
  KOMO News
  If something is stolen from your vehicle, say a laptop or some other expensive item, your car insurance will cover the loss, right? Actually, it won't “You're going to make that claim with your homeowners or your renters insurance,” explains Laura ...
  The Car Insurance Myths That Most Drivers Don't Know AboutThe Cheat Sheetall 6 news articles »
  

• Insurance Wholesaler Socius Names 3 to Leadership Posts

  25-09-2015 15:01
  
  Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, announced three changes to its leadership team. According to Patrick E. Hanley Sr., president of Socius, the changes are: Greg Miller of the Miami Beach, Florida office has accepted …
  
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• Intellectual Property: Case of the Monkey’s Selfie and Animals’ Copyright

  25-09-2015 14:49
  
  A macaque monkey who took now-famous selfie photographs should be declared the copyright owner of the photos, rather than the nature photographer who positioned the camera, animal-rights activists contend in a novel lawsuit filed Tuesday. The suit was filed in …
  
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• 7 Cyber risk stakeholders and why they matter

  25-09-2015 14:37
  
  Here’s the new reality in cyber risk management: It’s no longer just an IT issue. Meet the seven key stakeholders other than the IT professionals to consider as you look at your cyber risk management strategy.
  
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• Do you know these 10 property insurance terms?

  25-09-2015 14:34
  
  If you sell property insurance, these 10 terms are foundational to the work you do.
  
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• Car Dealers Sue Volkswagen Over Losses Tied to Diesel Cheating

  25-09-2015 14:32
  
  Independent car dealerships sued Volkswagen AG in California on Thursday over losses they say they will incur following revelations that the company fitted some diesel models with software to cheat on U.S. vehicle emissions tests. The proposed class action was …
  
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• How Regulators Caught Volkswagen’s Diesel Deception

  25-09-2015 14:23
  
  The confession of cheating that’s embroiled Volkswagen AG in one of the biggest scandals in auto industry history came on a cool California morning, on the sidelines of an academic conference focused on green transportation. After more than a year …
  
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• Best practices for valuing golf equipment

  25-09-2015 14:05
  
  Golf equipment values can run high, and even experienced golfers may not know how to value or identify the various types of bags, balls and clubs they own.
  
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• Workers’ Compensation Premiums Up 5.3% in First Half of 2015: Demotech

  25-09-2015 14:03
  
  Workers’ compensation insurers reported a 5.3 percent increase in direct written premiums during the first six months of 2015 versus the same period in 2014, according to actuarial firm Demotech’s review of second quarter 2015 data. Demotech analyzed data reported …
  
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• People on the move in the insurance industry: September 25, 2015

  25-09-2015 13:55
  
  News from Willis, BMS, Goji, Beecher Carlson and more.
  
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• Zurich Joins CityMobil2 to Test Automated Self-driving Buses in Europe

  25-09-2015 13:50
  
  Zurich Insurance Group announced that it has been selected as the insurance associate to CityMobil2, an EU-funded research project that is staging tests of automated road transport systems with self-driving buses across Europe. The announcement explained that the “project is …
  
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• Healthcare sector highly vulnerable to cyber attacks: Report

  25-09-2015 12:48
  The Raytheon|Websense Security Labs 2015 Healthcare Drill-Down report has found that the global healthcare sector is highly vulnerable to cyber attacks, CIO Australia reports.
  
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• June storm flood damage bill hits $44.4 million

  25-09-2015 12:46
  Damage from floods and rain that hit New Zealand's western North Island in June has totaled $70 million New Zealand ($44.4 million), 3news.co.nz reported.
  
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• Climate-related disasters account for 87% of global disasters in 2014: Report

  25-09-2015 12:45
  The International Federation of Red Cross and Red Crescent Societies' 2015 World Disasters Report has said that 87% of global disasters in 2014 were climate-related, Voice of America reported.
  
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• Families of 2014 ferry disaster victims sue ferry operator, government for $11 million

  25-09-2015 12:43
  The South Korean government and Chonghaejin Marine Co. Ltd. have been sued for 13 billion South Korean won ($11 million) by the families of victims of the 2014 MV Sewol ferry disaster, The Korea Herald reported.
  
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• Chinese reinsurance sector growth an opportunity for ILS players: Moody's

  25-09-2015 12:41
  Moody's Investors Service Inc. has said that growth in the Chinese reinsurance market signals an opportunity for insurance-linked securities players, Artemis.bm reported.
  
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