Insurance news

• RLI Launches Personal Jewelry Insurance Product

  10-11-2015 23:43
  
  RLI Insurance Co. has launched a new, online jewelry insurance product that will be led by Michael Maley, assistant vice president. RLI will provide customized coverage of fine jewelry, diamond and engagement rings and watches against damage, theft and loss …
  
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• Around the P&C insurance industry: Nov. 11, 2015

  10-11-2015 22:26
  
  News from ACORD, Westfield Insurance, Trusted Choice, Lockton and more.
  
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• Law Firm Launches Investigation into Workers’ Comp Services Provider BBSI

  10-11-2015 21:41
  
  Goldberg Law PC announced this week that it is investigating claims of potential misrepresentations by Barrett Business Services Inc. (NASDAQ: BBSI), a giant professional employer organization that deals with many workers’ compensation carriers. The investigation focuses on whether the Vancouver, …
  
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• Investigation Launched into Workers’ Comp Services Provider BBSI

  10-11-2015 21:41
  
  A financial investigation is underway into Barrett Business Services Inc. (NASDAQ: BBSI), a giant professional employer organization that deals with many workers’ compensation carriers. The independent investigation focuses on whether the Vancouver, Wash.-based company and its officers violated securities laws by …
  
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• Livegenic, Insurity win ACORD's inaugural innovation challenge

  10-11-2015 20:55
  
  Have a great idea and want to compete in a competition similar to "Shark Tank" or TechCrunch Disrupt? Participate in ACORD's Insurance Innovation Challenge in 2016.
  
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• The Perilous North Atlantic – Europe’s War Time American Lifeline

  10-11-2015 19:50
  
  Crossing the North Atlantic on a modern ocean liner is a pleasant and mostly uneventful experience these days. But gazing into the depths of the presently rather stormy ocean evokes the past, and the deadly conflicts, shipwrecks and other disasters …
  
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• JPMorgan’s 2014 hack tied to vast cyber crime enterprise

  10-11-2015 19:35
  
  Hackers and conspirators in more than a dozen countries generated hundreds of millions of dollars in illicit proceeds.
  
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• U.S. says Takata air bag recalls may widen to more carmakers

  10-11-2015 19:10
  
  The Takata Corp. air-bag recall already affecting a dozen automakers in the U.S. may widen as the nation’s regulator heightens its scrutiny of the devices.
  
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• New Storm Forecast Center Pairs UConn, Electric Utility Company

  10-11-2015 18:30
  
  Two days before Superstorm Sandy struck Connecticut in 2012, UConn scientists fed measurements from the storm and historical data from others into a computer model they developed and forecast where the most damage and power outages would occur. Their forecast …
  
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• V3 Insurance Launches Management Liability Package

  10-11-2015 18:29
  
  V3 Insurance Partners LLC has launched a new management liability package program, Vantage Point, for private companies and not-for-profit organizations. Vantage Point is a flexible insurance package created specifically for small- to mid-sized companies that offers comprehensive insurance coverages tailored …
  
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• Delaware Marks Licensing of 1,000th Captive Insurer

  10-11-2015 18:16
  
  Delaware Gov. Jack Markell presented Insurance Commissioner Karen Weldin Stewart with a proclamation Monday recognizing the Department of Insurance’s (DOI) licensing of its 1,000 captive insurance company, AWI Inc. of Voorhees, New Jersey. Delaware is currently the sixth-largest captive domicile …
  
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• Atlantic hurricane season deadly even with below average number of storms

  10-11-2015 18:08
  
  The 2015 Atlantic hurricane season may end up being remembered for a subpar number of storms, even though the total still beat early forecasts and more than 50 people died.
  
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• Uber Gains Support From Upstate New York Mayors

  10-11-2015 17:53
  
  Mayors of some of upstate New York’s largest cities have joined together to support Uber’s proposal to expand throughout the state. Rochester Mayor Lovely Warren, Binghamton Mayor Richard David and Syracuse Mayor Stephanie Miner announced Monday that they have signed …
  
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• Kingstone Approved to Write P/C Insurance in New Jersey

  10-11-2015 17:42
  
  Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in New Jersey from the state’s Department of Banking and Insurance. The addition of New …
  
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• Watkins Insurance Group Hires Williams as VP, Business Development

  10-11-2015 17:36
  
  Austin, Texas-based independent insurance agency, Watkins Insurance Group, has added Colin Williams as vice president of Business Development. Williams now joins 15 primarily commercial lines-focused producers at Watkins Insurance Group’s Austin headquarters. Collin has more than 20 years of experience …
  
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• Uber Wants To Set up Operations in Montana

  10-11-2015 17:32
  
  The ridesharing company Uber has filed an application with Montana regulators for a license to operate in the state, starting a protest period for any motor carrier or member of the public to comment before the Public Service Commission makes …
  
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• Storm Damage Estimated at $500K in Northeast Nevada City

  10-11-2015 17:28
  
  Elko County officials say the city of Carlin suffered hundreds of thousands of dollars in storm damage from the high winds and snow that blew through Nevada last week. The town on Interstate 80 about 12 miles west of Elko was …
  
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• Manufacturing Safety Group Gets Nearly $630K Dividend from Texas Mutual

  10-11-2015 17:17
  
  Texas Mutual Insurance Co., a policyholder-owned company, recently awarded a dividend of $629,849 to the National Federation of Independent Businesses Manufacturing (NFIB) safety group. The dividend was earned based on the group members’ dedication to making safety a priority in …
  
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• 2 Train Derailments in 2 Days in Wisconsin; Ethanol, Crude Oil Spilled

  10-11-2015 17:14
  
  A Canadian Pacific Railway train carrying crude oil derailed on Nov. 9 prompting some evacuations in Wisconsin, the second day in a row a freight train derailed in the state. The eastbound CP train derailed about 2 p.m. in Watertown, …
  
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• Rosson of Woodruff-Sawyer in California Named Assurex Global Chair

  10-11-2015 17:03
  
  Charlie Rosson, CEO of San Francisco, Calif.-based Woodruff-Sawyer & Co., has been named as chairman of Assurex Global. Assurex Global is a partnership of independent agents and brokers. Assurex has more than 600 Partner offices across six continents. Rosson leads …
  
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• NBA Star Duncan Files Another Suit Against Ex-Financial Adviser

  10-11-2015 17:03
  
  San Antonio Spurs star Tim Duncan has filed another lawsuit against a former financial adviser who Duncan contends has cost him millions of dollars in lost investments. The lawsuit filed last week claims Charles Banks of Atlanta urged Duncan to …
  
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• Florida regulators order 5.1% cut in Workers' Comp rates

  10-11-2015 17:02
  
  State's insurance office rejects proposal for a 1.9% rate decrease.
  
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• Franklin, Indiana, Faces Big Change in Flood Plain Maps

  10-11-2015 17:00
  
  Hundreds of homes and businesses in a central Indiana city hit hard by flash flooding seven years ago could face hefty jumps in their insurance costs if updated federal flood plain maps are approved. About 70 percent of Franklin’s industrial …
  
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• Indiana-Based Zimmer Wins First NexGen Flex Knee Devices Case

  10-11-2015 16:55
  
  Indiana-based medical device manufacturer Zimmer Biomet Holdings Inc. has been cleared of liability in the first of more than 900 U.S. lawsuits to go to trial over claims that its NexGen Flex knee replacements were prone to painful, motion-impairing loosening. …
  
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• Many Have Died in ‘Subpar’ Atlantic Hurricane Season

  10-11-2015 16:36
  
  The 2015 Atlantic hurricane season may end up being remembered for a subpar number of storms, even though the total still beat early forecasts and more than 50 people died. The season, which also lags behind in terms of overall …
  
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• RMS: Cat Bond Analysis Reveals Market Predictions of Price Bottom Are Optimistic

  10-11-2015 15:59
  
  Return relative to risk values for catastrophe bonds at current prices are actually higher in 2015 than they were last year, even though recent market commentary suggests that market prices have stabilized, according to research by RMS, the Newark, Calif.-based catastrophe risk …
  
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• Inclusion on List of Too-Big-to-Fail Insurers May Alter Business Strategy: Fitch

  10-11-2015 15:15
  
  A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some major insurers, according to Fitch Ratings. The …
  
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• Being Included on Too-Big-to-Fail Insurer List May Alter Business Strategy: Fitch

  10-11-2015 15:15
  
  A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some major insurers, according to Fitch Ratings. The …
  
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• 9 negative phrases to avoid with your clients (and what to say instead)

  10-11-2015 13:15
  
  Check yourself before you wreck yourself, and practice what you're going to say before making calls to prospects.
  
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• Producer development and sales management: Charting your success

  10-11-2015 13:00
  
  To achieve exceptional success and sustained growth, an agency must commit to establishing formal processes for producer development and sales management.
  
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• 8 characteristics of a good insurance executive

  10-11-2015 13:00
  
  They possess a concerned eye, are a steady pair of hands, and embody dynamism.
  
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• Judge Rules Punitive Damages Possible for GM in Ignition Case

  10-11-2015 12:50
  
  General Motors Co. may be liable for punitive damages in lawsuits it faces over an ignition switch problem that prompted the recall of millions of vehicles last year, a U.S. judge said on Monday. The decision from U.S. Bankruptcy Judge …
  
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• Xchanging Wins 3-Year Services Deal Supporting Lloyd’s Asia Platform

  10-11-2015 11:29
  
  Xchanging plc, the London-based business technology and services provider, has won a three-year contract to supply insurance services to the Lloyd’s service companies operating from the Lloyd’s Asia platform in Singapore, with effect from Jan. 1, 2016. The new cloud-based services …
  
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• Aspen Launches Singapore Operation via Lloyd’s Platform; 2 Senior Execs Hired

  10-11-2015 11:08
  
  Aspen Insurance Holdings Limited announced the entry of its insurance segment, Aspen Insurance, into Singapore through Aspen’s Lloyd’s syndicate on the Lloyd’s Asia platform, effective Jan. 1, 2016. The launch, which is subject to regulatory approval, is consistent with Aspen’s …
  
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• EU Expected to Agree to Securitization Plan by Year End, to Boost ABS Market

  10-11-2015 10:27
  
  European Union finance ministers should reach a deal by the end of the year on a plan to revamp the securitization market in Europe, the European commissioner for financial services said on Tuesday. The European market for asset-backed securities (ABS) is only …
  
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• Global Temperature Rise on Track to Hit Half-Way Point of ‘Tolerable Threshold’

  10-11-2015 10:13
  
  The world is on track to reach 1 degree Celsius of global warming this year since the industrial revolution, the half-way point toward the maximum tolerable threshold identified by scientists. That’s the conclusion of the Met Office, the U.K. government-backed forecaster that’s …
  
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• Supreme Court in Bind Over Insurer’s Right to Insured’s Damages Money

  10-11-2015 09:00
  
  Which do the conservative justices hate more: personal-injury lawyers or interpreting a law loosely to expand the power of lower courts? That question was to be on the table Monday at the U.S. Supreme Court. The justices are hearing oral …
  
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• Georgia Roofing Contractor Accused of Insurance Fraud

  10-11-2015 07:33
  
  A Macon, Ga.-based roofing contractor was arrested for insurance fraud and damage to property, according to Georgia Insurance Commissioner Ralph Hudgens. Law enforcement officers from Hudgens’ Fraud Division and the Bibb County Sheriff’s Office arrested Anthony Christopher Bernardo, 48, on …
  
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• Mississippi Parking Lot Caves-In, Swallows 12 Cars

  10-11-2015 07:17
  
  A cave-in of a restaurant parking lot in Mississippi swallowed 12 cars and now experts have begun work to determine the cause of the weekend collapse, authorities said. No one was reported injured when the pavement gave way Saturday night, …
  
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• Alper Services Hires Moyer in Commercial Lines Division

  10-11-2015 07:04
  
  Chicago-based Alper Services LLC has added Robert Moyer as an account manager in its Commercial Lines Division. With eight years of experience in the insurance industry, Moyer has worked on both the underwriting and brokerage sides and most recently was …
  
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• Florida Issues Data Call for Water Claims, Assignment of Benefit Costs

  10-11-2015 06:49
  
  The Florida Office of Insurance Regulation (OIR) ordered Florida’s largest property insurers on Oct. 23 to submit detailed information on water loss claims, mitigation services, litigation and assignment of benefits. OIR stated the data call would help evaluate the impact …
  
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• Burns & Wilcox Names Parks Vice President in Arizona

  10-11-2015 04:21
  
  Burns & Wilcox Brokerage has named Susie Parks vice president and senior broker in the firm’s Scottsdale, Ariz. office. Parks will focus on real estate, hospitality, products and product recall coverage. Parks has 29 years of experience. She was most …
  
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• Burns & Wilcox Brokerage Names Parks Vice President in Arizona

  10-11-2015 04:21
  
  Burns & Wilcox Brokerage has named Susie Parks vice president and senior broker in the firm’s Scottsdale, Ariz. office. Parks will focus on real estate, hospitality, products and product recall coverage. Parks has 29 years of experience. She was most …
  
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