Insurance news

• 5 Annoying Reasons You're Not Getting the Best Car Insurance Rates - Forbes

  02-12-2015 23:14 via
  Forbes
  5 Annoying Reasons You're Not Getting the Best Car Insurance Rates
  Forbes
  The formulas used to price car insurance can be a real black box. Your insurance rates might be affected by factors you can't control and might not even know about. A recent study from NerdWallet found that people can save an average of $859 a year ...
  

• US health care spending topped $3 trillion in 2014 - Business Insurance

  02-12-2015 22:41 via
  Business Insurance
  US health care spending topped $3 trillion in 2014
  Business Insurance
  U.S. health care expenditures accelerated in 2014 and ended a multiyear trend of sharply smaller cost increases, the Centers for Medicare and Medicaid Services said Wednesday. Total U.S. health care spending hit $3.031 trillion in 2014, the latest year ...
  What Happens When Marriage Makes Health Insurance UnaffordableWLRN
  Five things young adults should know about buying health insuranceLompoc Record
  Health
  

• Top 20 Insurance Stocks For Dividend Growth Investors - Seeking Alpha

  02-12-2015 22:36 via
  Top 20 Insurance Stocks For Dividend Growth Investors
  Seeking Alpha
  The dividend yields on insurance stocks have a fairly large range and some look like much better fits for dividend growth investors. There was one insurance stock with a huge yield, but the tiny market cap creates significant problems. I prepared ...
  

• First Mid acquires insurance agency - Journal Gazette and Times-Courier

  02-12-2015 22:02 via
  First Mid acquires insurance agency
  Journal Gazette and Times-Courier
  MATTOON (JG-TC) -- First Mid-Illinois Bancshares, Inc., the parent company of First Mid Insurance Group, has completed the purchase of substantially all the assets of Illiana Insurance Agency, LTD. According to a press release, Illiana, based in Philo ...and more »
  

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• Alan Rodrigues joins Markel Global Insurance - PR Newswire (press release)

  02-12-2015 22:01 via
  PR Newswire (press release)
  Alan Rodrigues joins Markel Global Insurance
  PR Newswire (press release)
  RICHMOND, Va., Dec. 2, 2015 /PRNewswire/ -- Markel Global Insurance, a division of Markel Corporation (NYSE: MKL), announced today that Alan Rodrigues has joined the Excess Liability team based in New York. Reporting to John Boylan, Chief ...and more »
  

• BP well-site managers’ spill manslaughter case dropped

  02-12-2015 21:17
  
  Federal prosecutors dropped manslaughter charges against BP Plc’s two top employees on the doomed oil rig that blew up in 2010.
  
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• Meet the 2015 Insurance Fraud Hall of Shame inductees

  02-12-2015 20:15
  
  It's time to unveil the newest dishonorees who perpetrated the year's most brazen, vicious or just plain klutzy insurance misadventures.
  
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• Target settles with banks over 2013 data breach for $39 million

  02-12-2015 20:05
  
  Target agreed to pay more than $39 million to banks and credit unions for losses from a 2013 holiday-season data breach that led to the exposure of as many as 40 million payment cards.
  
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• Prudential Offers Life Insurance to People With HIV - NerdWallet (blog)

  02-12-2015 19:54 via
  NerdWallet (blog)
  Prudential Offers Life Insurance to People With HIV
  NerdWallet (blog)
  Prudential Financial, one of the nation's largest insurance companies, has started offering life insurance to people with HIV, the company announced Tuesday, on World AIDS Day. Previously, people living with HIV and AIDS have had very limited options ...
  Prudential to offer life insurance for people living with HIVLos Angeles Times
  At Last, HIV-Positive Americans Can Get Life InsuranceHuffington Post
  As peop
  

• What Silicon Valley Is Saying About Disrupting Insurance - Huffington Post

  02-12-2015 19:19 via
  Huffington Post
  What Silicon Valley Is Saying About Disrupting Insurance
  Huffington Post
  "How did you go bankrupt?" ... "Two ways. Gradually, then suddenly." - The Sun Also Rises, Ernest Hemingway, as quoted by ITL CEO Paul Carroll. "Insurance has been in the gradual phase, the suddently phase is here." - ITL CEO Paul Carroll. "The future ...
  

• VTech hack accessed 6 million kids profiles, mainly in the U.S.

  02-12-2015 19:10
  
  The attack on VTech highlights how increasingly online-savvy children are vulnerable to hackers.
  
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• Vermont Health Connect Promises Fixes After Critical Review

  02-12-2015 18:59
  
  Although Vermont Gov. Peter Shumlin recently proclaimed the Vermont Health Connect a “totally different ballgame” in comparison to last year’s performance, a House committee on Monday heard of several unresolved problems affecting the insurance exchange. “There’s a heck of a …
  
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• Blankenship Jury Still Deadlocked in West Virginia Mine Blast Case

  02-12-2015 18:58
  
  Jurors at former Massey Energy Co. Chief Donald Blankenship’s criminal trial ended their eighth day of deliberations after telling the judge they remain deadlocked on charges the coal executive plotted to ignore safety rules before a 2010 mine explosion that …
  
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• Allianz Launches Motorsports Unit in North America

  02-12-2015 18:55
  
  Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) is launching a dedicated motorsports unit in North America to be led by David Cloward, Global Product leader for Live Entertainment, effective January 1, 2016. National Program Management will …
  
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• Ironshore Launches Hybrid Product for Fine Art Losses from Political Risks

  02-12-2015 18:50
  
  Ironshore International has introduced a hybrid insurance product to protect against loss or damage of works of art in the care custody and control of Museums and Exhibition organizers, as well as personal fine art valuables and collections. Ironshore’s new …
  
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• Klestinski Named VP – Specialty Lines at SECURA

  02-12-2015 18:35
  
  SECURA Insurance, headquartered in Appleton, Wis., hired Kevin Klestinski as vice president – Specialty Lines Underwriting to lead this fast growing line of business for the company. Klestinski has more than 24 years of experience in the insurance industry. Prior …
  
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• Hub International Acquires Illinois-Based Forest Financial Group Assets

  02-12-2015 18:33
  
  Chicago-based global insurance broker, Hub International Limited (Hub), has acquired the assets of Forest Financial Group Inc. (FFG). Terms of the acquisition were not disclosed. Based in Lake Forest, Ill., FFG specializes in employee benefits consulting. FFG was founded in 1998 …
  
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• U.S. Risk Insurance Group Acquires Matias Underwriters in Boston

  02-12-2015 18:31
  
  U.S. Risk Insurance Group Inc., a managing general agency and surplus lines wholesaler based in Dallas, announced that it has acquired Matias Underwriters LLC in Boston. Terms of the transaction were not disclosed. Matias Underwriters is a workers’ compensation program …
  
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• Texas Firm to Pay Over $3M to Settle Ambulance Kickback Claims

  02-12-2015 18:31
  
  A Texas company that operates nursing care facilities will pay nearly $3.2 million to settle allegations of receiving kickbacks from ambulance companies. Regent Management Services of Galveston oversees 11 nursing facilities across Texas. Federal prosecutors in Houston announced the agreement …
  
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• Illinois Judge: State Must Pay Home Health Workers’ Insurance

  02-12-2015 18:29
  
  A judge has ordered Illinois to pay more than $13 million to cover the cost of health insurance for home healthcare workers. SEIU Healthcare Illinois took legal action against Gov. Bruce Rauner and Comptroller Leslie Munger in November to force the …
  
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• 7 Quakes Recorded in Oklahoma on Nov. 30; 1 a Magnitude 4.7

  02-12-2015 18:29
  
  At least seven earthquakes rattled north-central Oklahoma on Monday, Nov. 30, including one felt 300 miles away in Iowa, prompting concern from local residents and policymakers that the state isn’t doing enough to curb the quakes that scientists have linked …
  
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• Oklahoma Troopers Write 90-Plus ‘Texting and Driving’ Tickets in November

  02-12-2015 18:28
  
  Authorities have written nearly 100 tickets for texting while driving in the first month Oklahoma state’s ban has been in effect. Oklahoma Highway Patrol Lt. John Vincent says troopers have written 91 tickets for texting and driving and another 200 …
  
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• Conviction of Former N.Y. Assembly Speaker Brings Turmoil to State Politics

  02-12-2015 18:24
  
  The conviction of former New York State Assembly Speaker Sheldon Silver has shaken New York politics down to the granite foundations of the state Capitol, provoking fresh calls to overhaul a system that has stubbornly clung to its long history …
  
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• Conviction of Former Assembly Speaker Silver Brings Turmoil to N.Y. Politics

  02-12-2015 18:24
  
  The conviction of former New York State Assembly Speaker Sheldon Silver has shaken New York politics down to the granite foundations of the state Capitol, provoking fresh calls to overhaul a system that has stubbornly clung to its long history …
  
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• High court hearing case that pits Vt. against insurance industry - WCAX

  02-12-2015 17:55 via
  High court hearing case that pits Vt. against insurance industry
  WCAX
  Vermont is taking on the insurance industry in the United States Supreme Court. At issue is access to information in insurance claims. The Green Mountain Care Board wants the date to help get a better handle on health care utilization. Liberty Mutual ...and more »
  

• Worst rain in century shuts airport, disrupts factories in Chennai, India

  02-12-2015 17:52
  
  Factories curbed production a second straight day, including those of Ford Motor Co. and BMW AG.
  
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• Around the P&C insurance industry: Dec. 02, 2015

  02-12-2015 17:50
  
  News from Ironshore, FPI and Arthur J. Gallagher and more.
  
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• Soucy Insurance Agency Hires Pisaruk as Account Manager in R.I.

  02-12-2015 17:47
  
  Soucy Insurance Agency in Woonsocket, Rhode Island, has hired John Pisaruk as Commercial Lines account manager. With over 30 years of experience in the commercial insurance industry, Pisaruk specializes in property, casualty and workers’ compensation insurance. At Soucy Insurance Agency, …
  
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• More Than 200 Accidents Tallied on Utah’s Icy Highways over Holiday

  02-12-2015 17:46
  
  Police in Utah say the holiday weekend’s icy roads caused several crashes along the Wasatch Front. The weekend tally of more than 200 accidents included a Saturday crash that damaged a Utah Highway Patrol vehicle. Trooper Andrew Battenfield says Interstate …
  
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• TLB in California Affiliates with Leavitt Group

  02-12-2015 17:26
  
  Walnut Creek, Calif.-based TLB Insurance has affiliated with Leavitt United Insurance Services, of which TLB will now be a subsidiary. As a subsidiary of Leavitt United, TLB will continue to operate locally. TLB is a longtime member of United Valley …
  
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• Canada's Sun Life Boosts Indian Insurance Venture Stake - Wall Street Journal

  02-12-2015 17:26 via
  Moneycontrol.com
  Canada's Sun Life Boosts Indian Insurance Venture Stake
  Wall Street Journal
  Sun Life Financial Inc., SLF -0.63 % Canada's third-largest insurance company by assets, said Wednesday it will boost its stake in its Indian insurance joint venture to 49% from 26%, expanding in what it considers a key growth market. Toronto-based Sun ...
  UPDATE 1-Canada's Sun Life to raise stake in Indian insurance joint ventureReuters
  Canada's Sun Life raising stake in Indian insurance JV for $250 mi
  

• Workers’ Comp Rates in Washington to Increase 2% In 2016

  02-12-2015 17:18
  
  The average base rate Washington businesses pay for workers’ compensation insurance will increase by 2 percent in 2016, the state Department of Labor & Industries announced. L&I uses wage inflation as a benchmark to help determine workers’ comp rates for …
  
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• Fossil Fuel Divestments by Insurers & Other Investors Top $3.4 Trillion: Activists

  02-12-2015 17:10
  
  Insurers, cities and other investors controlling more than $3.4 trillion in assets have pledged to keep some or all of their money out of fossil-fuel companies — a high-water mark for the divestment movement, according to climate-change advocates. The number …
  
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• Analyst Sees AIG CEO Hancock Surviving Icahn Ouster Bid

  02-12-2015 16:55
  
  Billionaire activist investor Carl Icahn, whose call to break American International Group Inc. was rebuffed by the insurer, will probably be unable to force out Chief Executive Officer Peter Hancock, Credit Suisse Group AG said. While Icahn may succeed in …
  
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• Phuket wants to require tourists to have insurance - Fox News

  02-12-2015 16:34 via
  Fox News
  Phuket wants to require tourists to have insurance
  Fox News
  Tourists dance to electronic music during an open-air party at Patong beach in Phuket, one of Asia's premier resort islands. (Reuters). Many travelers are covered by health insurance in their home country. However, this protection does not travel with ...and more »
  

• How State Policies Affect Low Back Pain Costs

  02-12-2015 15:07
  
  Public policies on the treatment and benefits for injured workers explain some of the state-level variation in costs and outcomes of claims for low back pain, according to a new medical study. The study in the December Journal of Occupational …
  
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• Transatlantic Re Winds Down Asbestos Contracts with AIG, Berkshire Hathaway

  02-12-2015 14:46
  
  Weston Hicks’s Alleghany Corp. will pay $400 million to wind down reinsurance deals with American International Group Inc. and Warren Buffett’s Berkshire Hathaway Inc. for policies that date back decades. Transatlantic Reinsurance Co., owned by Alleghany, will end contracts that …
  
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• Amateur Athletes, Not Just Pros, Could Be at Risk for Brain Damage: Mayo Clinic

  02-12-2015 14:26
  
  In the movie Concussion, Will Smith plays the doctor who discovered the condition known as chronic traumatic encephalopathy, or CTE, in pro football. The film’s release this month follows years of headlines on the risks NFL players face as they …
  
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• 4 steps to insuring clients’ valuable artwork at every stage

  02-12-2015 14:00
  
  Less than 1% of any piece of art’s life is spent in transit, but transit-related losses account for 18% of all art insurance claims.
  
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• Does your Commercial Crime policy cover loss from an imposter's fraud?

  02-12-2015 13:15
  
  Falling victim to social-engineering fraud can be costly for a company.
  
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• 9 ways to unleash the power of social media in insurance

  02-12-2015 13:00
  
  Fifty-five percent of insurance consumers say they would use insurance services offered through social media. That's too big a number to ignore.
  
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• To improve health, raise 'insurance literacy,' experts say - The CT Mirror

  02-12-2015 11:38 via
  The CT Mirror
  To improve health, raise 'insurance literacy,' experts say
  The CT Mirror
  “Consumers would rather go to the gym or pay taxes than shop for health insurance,” said Lynn Quincy, director of the Health Care Value Hub at Consumers Union. In focus groups, even those with the knowledge to pick the best plan often had little ...and more »
  

• Kimberley Appointed Chief Underwriting Officer of Ascot Underwriting (Bermuda)

  02-12-2015 10:30
  
  Ascot Underwriting Ltd., the London-based Lloyd’s managing agency, has appointed Simon Kimberley as chief underwriting officer of Ascot Underwriting (Bermuda) Ltd. Kimberley transferred to AUB in 2014 as underwriter and was formerly an underwriter with Ascot’s treaty team in London. …
  
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• ACE Announces Future Leadership Team for Global Surety Business Unit

  02-12-2015 10:06
  
  ACE Ltd. announced the leadership team it has appointed for the company’s Global Surety business unit, which will take effect upon completion of the acquisition of Chubb, expected in the first quarter of 2016. As previously announced, Stephen Haney will …
  
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• Arthur J. Gallagher & Co. Acquires New Zealand’s Reid Manson

  02-12-2015 09:27
  
  Arthur J. Gallagher & Co.* announced the acquisition of Reid Manson Ltd. located in Timaru, New Zealand. Terms of the transaction were not disclosed. Founded more than 30 years ago, Reid Manson is a retail insurance broker providing commercial, rural, …
  
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• AXIS Capital to Write Treaty Reinsurance Business via Lloyd’s China Platform

  02-12-2015 09:13
  
  Bermuda-based AXIS Capital Holdings Ltd. announced that AXIS Syndicate 1686 has recently received approval from Lloyd’s for the establishment of an underwriting division at Lloyd’s Insurance Company (China) Ltd. The underwriting division will focus on treaty reinsurance business on the …
  
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• Zurich CEO Senn’s Departure May End Era of Generous Dividends

  02-12-2015 08:54
  
  As Zurich Insurance Group AG begins the search for a chief executive officer, investors may need to prepare for more than a new face. An end to the company’s generous dividends could also be on the horizon. Switzerland’s biggest insurer said it …
  
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• Why Wage and Hour Claims Keep Rising

  02-12-2015 08:00
  
  This was another historic year for federal wage and hour lawsuits. Using data obtained from the Federal Judicial Center, law firm Seyfarth Shaw LLP reported that 8,781 cases were filed in 2015 under the Fair Labor Standards Act (FLSA). That …
  
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• All Risks Acquires Florida-Based Specialty Risk Underwriters

  02-12-2015 06:07
  
  All Risks, Ltd., a nationwide independent wholesaler, has acquired Specialty Risk Underwriters (SRU), a national program administrator based in St. Petersburg, Fla. Specialty Risk Underwriters has developed a variety of accident insurance plans and national comprehensive packages for sports organizations, …
  
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• South Carolina Flood Aid Deadline Extended

  02-12-2015 05:58
  
  South Carolina residents who suffered damage in October’s massive floods will have an extra month to request federal help. Gov. Nikki Haley’s office announced in a statement Monday that the deadline to apply for aid from the Federal Emergency Management …
  
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