Insurance news

• Hurricane Season Ends: Atlantic Stayed Below Normal; Pacific Set Records

  01-12-2015 20:00
  
  The Atlantic, eastern and central Pacific hurricane seasons officially ended yesterday, and as NOAA predicted, the Atlantic season stayed below normal with 11 named storms, while the eastern and central Pacific were above normal with both regions shattering all-time records. …
  
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• Ohio-Based Cintas Corp. to Pay $1.5M to Settle Sex Discrimination Suit

  01-12-2015 18:38
  
  Cintas Corp., an Ohio-based uniform manufacturer and supplier, will pay $1,500,000 to settle a sex discrimination lawsuit according to the U.S. Equal Employment Opportunity Commission (EEOC). According to a lawsuit filed by the EEOC, Cintas failed to hire females for …
  
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• N.Y. Agency Advises Homeowners to Check Heating Oil Tanks to Prevent Leaks

  01-12-2015 18:20
  
  The New York Department of Environmental Conservation is calling on homeowners who have oil furnaces to inspect their heating oil tanks for leaks that could lead to expensive cleanups. The agency says more than 2 million homes in New York …
  
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• Founders Professional Hires Vecchio as EVP in Chicago

  01-12-2015 18:17
  
  Professional liability wholesale brokerage, Founders Professional, has added Dan Vecchio as executive vice president and the head of its Midwest division in Chicago. Vecchio will lead a team focused on management liability for private and public companies, as well as …
  
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• AIG, Berkshire get $400 million as Alleghany exits asbestos deal

  01-12-2015 18:16
  
  Alleghany Corp. will pay $400 million to wind down reinsurance deals with AIG and Berkshire Hathaway Inc. for policies that date back decades.
  
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• PartnerOne Launches Contractors Pollution & Professional Product

  01-12-2015 18:14
  
  PartnerOne Environmental is working in partnership with Berkley Environmental, a Division of Berkley Specialty Underwriting Managers, to offer PartnerOne Contractors Pollution & Professional. This product is a combined CPL and professional liability policy that is tailored to address the risk …
  
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• Louisiana Medical Payments per Workers’ Comp Claim Stable: WCRI

  01-12-2015 18:12
  
  Growth in medical payments per workers’ compensation claim in Louisiana slowed from 2011 to 2013, in part due to decreases in utilization of hospital and nonhospital care, according to a recent study by the Workers Compensation Research Institute (WCRI). The …
  
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• Texas Mutual Distributes $3M in Early Qualifier Dividends

  01-12-2015 18:11
  
  Texas Mutual Insurance Co. has paid more than $3 million in early qualifier dividends to approximately 4,000 newer workers’ compensation insurance policyholder owners across the state. This payout is the final component of Texas Mutual’s $225 million dividend distribution in …
  
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• Florida Marks 10 Years Without Major Hurricane, Sets Record

  01-12-2015 18:04
  
  The state of Florida is marking a big milestone with the official end of the 2015 hurricane season – 10 years without a major hurricane making landfall in the state. The Miami Herald reports that the hurricane-free streak is a …
  
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• Zurich begins search for new CEO

  01-12-2015 17:59
  
  Switzerland’s biggest insurer said it is looking for an entrepreneurial outsider with deep experience in the industry to replace Martin Senn, who stepped down Tuesday after six years as CEO.
  
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• N.H. to Examine Health Insurers’ Substance Abuse Treatment Coverage

  01-12-2015 17:59
  
  New Hampshire’s Insurance Department is examining whether insurance companies are appropriately covering substance abuse services as required by law. The probe comes as New Hampshire seeks to expand treatment and recovery services amid a heroin and opioid crisis that’s claimed …
  
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• Suit Accuses Nevada Special Education Teacher of Abusing 2 Children

  01-12-2015 17:56
  
  Two families are suing a Reno, Nev. area school district, a teacher and a principal for what their lawsuit says was abuse at a school for children with disabilities. The Reno Gazette-Journal reported the lawsuit filed in Reno’s U.S. District …
  
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• California Farm Recalls Produce Used in Costco’s E. Coli-linked Salad

  01-12-2015 17:53
  
  A California farm is recalling a vegetable mix believed to be the source of E.coli in Costco chicken salad that has been linked to an outbreak that has sickened 19 people in seven states, the Food and Drug Administration said. …
  
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• Maine’s MEMIC Group Announces 3 Promotions

  01-12-2015 17:47
  
  The MEMIC Group, a workers’ compensation insurer based in Portland, Maine, has promoted Wanda Periou to director of Claims for the Atlantic region, Karen Porter to director of Technical Operations for the Atlantic and Northeast regions and Joeline D’Anjou to …
  
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• Brain Damaged Motorcyclist in Hawaii Gets $1.3M Settlement

  01-12-2015 17:36
  
  A federal judge has approved a $1.3 million settlement in a lawsuit filed by a Hawaii motorcyclist who suffered permanent brain injury in a 2012 collision in Honolulu. The Honolulu Star-Advertiser reports that Aaron Aloya filed the suit against the …
  
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• Utah Comic Con Believes Long Trademark Dispute Coming to End

  01-12-2015 17:33
  
  The organizers of Salt Lake Comic Con said they have made inroads in a name-trademark dispute that all hinges on a hyphen. Bryan Brandenburg, co-founder of the Utah convention , said last week organizers recently met with representatives from San …
  
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• Here are 4 ways you lose potential insurance customers

  01-12-2015 17:15
  
  People want convenience, and if buying insurance isn't easy to do, they'll walk away.
  
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• Best, Worst States for Insurance Regulation

  01-12-2015 16:36
  
  Vermont, Utah, Iowa, Virginia and Kentucky get an “A” and North Carolina an “F” in one think tank’s annual grading of states on how they regulate the property/casualty insurance industry. The 2015 Insurance Regulation Report Card, the R Street Institute’s …
  
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• A look ahead: What 2016 will bring for the P&C industry

  01-12-2015 16:30
  
  Examining the forces that will shape the P&C industry in the year to come.
  
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• VTech Data Breach Highlights Risk in Connected Toys, Internet of Things

  01-12-2015 14:50
  
  U.S. states said they will investigate a massive breach at digital toy maker VTech Holdings Ltd as security experts warned that hackers are likely to target similar companies that handle customer data. Attorneys general in the U.S. states of Connecticut …
  
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• Covering Transgender Care Is Good Economics for Insurance Companies - The Atlantic

  01-12-2015 14:01
  The Atlantic
  Covering Transgender Care Is Good Economics for Insurance Companies
  The Atlantic
  In mid-November, the largest insurer in Maryland, CareFirst BlueCross BlueShield, extended its coverage for transgender patients, removing language from its policies that said CareFirst would not pay for “treatment leading to or in connection with ...
  

• Shanghai Asian Insurance Brokers Registered as 1st Chinese Lloyd’s Broker

  01-12-2015 13:58
  
  Shanghai Asian Insurance Brokers Co. Ltd. (SAIB) has been registered as the first Chinese Lloyd’s registered broker. Based in Shanghai, SAIB specializes in liability insurance, special risk insurance and reinsurance, SAIB said in a statement, noting that it was insurance consultant …
  
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• London-Based CNA Hardy Appoints Hairsine as Head of Construction

  01-12-2015 13:37
  
  CNA Hardy, the London-based specialist commercial insurance provider within the Lloyd’s and company markets, is pleased to announce the appointment of Caroline Hairsine as the new head of Construction. Hairsine joins CNA Hardy from Zurich Insurance, where she was a …
  
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• 7 tips to reduce holiday party liability for employers

  01-12-2015 13:00
  
  Love them or hate them, office holiday parties are a reality. Here are some ways employers can make sure everyone has a good, but safe, time.
  
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• Insurance ‘Sting’ Aims to Catch Cargo Thieves During Their Busy Holiday Season

  01-12-2015 12:44
  
  Somewhere in America, a tractor-trailer loaded with hidden surveillance equipment is parked at a truck stop or warehouse while authorities wait for thieves to steal it. No one is sure when, or even if, crooks will take it. But such …
  
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• Castel Launches Corporate Underwriting Cell, Targeting African Reinsurance

  01-12-2015 12:29
  
  Castel Underwriting Agencies Ltd., the London-based MGA formation platform, has launched its first corporate underwriting cell, working with One Re, a specialist African-focused reinsurer, to target facultative reinsurance business across Sub-Saharan Africa. The underwriting cell, called One Facultative Acceptances*, will …
  
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• ACE Names Personal Lines Leadership Team for Overseas General Insurance

  01-12-2015 11:24
  
  ACE Ltd. has appointed the future personal lines leadership team for the new Chubb Group’s Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of …
  
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• Late NFL Player, Announcer Gifford Had Brain Disease Tied to Concussions

  01-12-2015 11:00
  
  Former professional football player and TV commentator Frank Gifford, who died in August at age 84, suffered from a degenerative brain disease triggered by the effect of repetitive head trauma. “We as a family made the difficult decision to have …
  
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• Dutch Government Plans to Float ASR, Former Fortis Insurance Unit

  01-12-2015 10:35
  
  The Dutch government plans to float ASR, a former insurance arm of the Belgian financial group Fortis, next year rather than try to find a buyer for the business. ASR, a life and property insurer, reported a book value of 3.37 …
  
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• Zurich CEO Senn Resigns; de Swaan Appointed to Interim Role After ‘Setbacks’

  01-12-2015 09:33
  
  Zurich Insurance Group AG Chief Executive Officer Martin Senn resigned, acknowledging “setbacks” in recent months as the company reported a loss at its general insurance business and dropped a takeover bid. Chairman Tom de Swaan has been appointed interim CEO …
  
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• Officials: 108 Fire Deaths in Ohio so Far This Year

  01-12-2015 07:43
  
  The state fire marshal’s office says 108 people have been killed in fires around Ohio so far this year. Last year, the office said Ohio had 115 fire fatalities. Fire Marshal Larry Flowers says it’s important that Ohioans be vigilant …
  
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• Dec. 31 Is Deadline to Claim Louisiana Property Insurance Rebates

  01-12-2015 07:31
  
  Louisiana Insurance Commissioner Jim Donelon is reminding property insurance policyholders that the deadline to claim a rebate for the Citizens Assessment charged on their 2011 insurance policies is Dec.31, 2015. Nearly $34 million, or 52 percent, of the refundable assessments …
  
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• Zurich Insurance CEO to Step Down - Wall Street Journal

  01-12-2015 07:17
  Wall Street Journal
  Zurich Insurance CEO to Step Down
  Wall Street Journal
  ZURICH— Zurich Insurance Group AG ZURVY -0.10 % capped a tumultuous period for the Swiss insurer on Tuesday, by parting ways with Chief Executive Martin Senn. The Zurich-based company said Mr. Senn will step down by the end of this year. He will ...
  Zurich Insurance says Martin Senn steps down as CEOCNBC
  Zurich Insurance thrown into upheaval as Martin Senn quitsFinancial Times
  Zurich Insurance boss Martin Senn
  

• Mayor of Florida County Seeks to Reduce Uber’s $3.2M in Fines

  01-12-2015 06:52
  
  The mayor of Miami-Dade County, Florida, wants to waive about half of the fines Uber currently owes the county. The Miami Herald reports Mayor Carlos Gimenez is pressing commissioners to take up his proposal to legalize the ridesharing service. County …
  
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• Tennessee Insurance Commissioner McPeak Elected as NAIC Officer

  01-12-2015 06:45
  
  Tennessee Department of Commerce & Insurance (TDCI) Commissioner Julie Mix McPeak was elected Secretary-Treasurer of the National Association of Insurance Commissioners (NAIC). She joins the other 2016 NAIC officers elected during the NAIC’s Fall National Meeting in National Harbor, Md. …
  
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• North Carolina Man Charged with Insurance Fraud Over Stolen Boat Claim

  01-12-2015 06:37
  
  North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of William Nathan Spaulding, 38, of Lake Waccamaw; he is charged with one count each of insurance fraud, obtaining property by false pretense and providing false statements on an application for …
  
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• Women Allege Negligence for Injuries from Truck Crash

  01-12-2015 06:00
  When Heather Marley decided to pass three vehicles while traveling eastbound through Macon County, Alabama, on Highway 80, she didn't anticipate a turning vehicle.
  
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• Snow Job

  01-12-2015 06:00
  
  It took until July of 2015 for the accumulated snow and ice to melt in Boston from its February 15 blizzard, which dropped a foot of snow on top of the six feet already there. But was this really the worst storm ever?
  
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• Shame on You: The 2015 Hall of Shame Inductees

  01-12-2015 06:00
  It's time to unveil the newest dishonorees of the Insurance Fraud Hall of Shame; the perpetrators of the year's most brazen, vicious or just plain klutzy insurance misadventures.
  
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• Self-Driving Cars: Who's Liable when Software is at the Wheel

  01-12-2015 06:00
  
  In the near future, driving just won't be the same as it used to be. Tasks such as placing your hands at ten-and-two on the steering wheel, looking for cross traffic at intersections, and checking your blind-spot before changing lanes may well become obsolete due to advances in automotive technology.
  
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• Navigating the Complexities of Advertising Coverage

  01-12-2015 06:00
  
  When most of us think of advertising, we conjure up an image of Mad Men's troubled yet brilliant Don Draper creating the perfect print or television ad to sell a client's product.
  
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• More than Money: Highlights from the 2015 Claims Professional Salary Survey

  01-12-2015 06:00
  
  When it comes to salaries, it's frequently how some determine their success or lack thereof. But as the annual Claims Salary Survey shows, there is more to being happy or successful than just a paycheck.
  
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• More Businesses are Using Insurance to Manage their Cyber Risk

  01-12-2015 06:00
  
  As more and more high-profile cyber attacks are identified, businesses are increasing their investment in cyber insurance to help mitigate their risk exposure in the event their data is hacked.
  
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• Front Lines of Cyber Risk: What's a Company's Best Defense?

  01-12-2015 06:00
  
  More than one company (and government) awoke to the unsettling reality that they'd been hacked this year.
  
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• Engine Damage: Impact or Mechanical Failure

  01-12-2015 06:00
  
  Claims handlers are often charged with determining if an automotive engine failure is a result of an impact with an object or a result of an internal problem that caused the damage, typically called mechanical failure.
  
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• 5 Legal Decisions that Impacted the Insurance Industry

  01-12-2015 06:00
  
  The year 2015 was filled with rulings impacting all facets of the insurance industry. For example, the U.S. Supreme Court upheld a key provision of Obamacare in a decision embraced by health insurers.
  
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• Anadarko’s $160 Million Fine for 2010 Gulf Oil Spill Falls Well Below What U.S. Sought

  01-12-2015 04:16
  
  Anadarko Petroleum Corp. was ordered to pay almost $160 million for its role as part-owner of the doomed Gulf of Mexico well that in 2010 caused the biggest offshore oil spill in U.S. history. The fine was the last big …
  
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