Insurance news

• Home Depot settlement riles lawyers for data breach plaintiffs

  04-12-2015 21:37
  
  Group of banks suing retailer cry foul over deal between retailer and MasterCard.
  
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• NAIA Adds Strategic Benefit & Insurance Advisors as Member Agency in N.H.

  04-12-2015 21:21
  
  North American Insurance Alliance (NAIA), an agency alliance based in Rangeley, Maine, announced that Strategic Benefit & Insurance Advisors (SBIA) of Bedford, New Hampshire, has joined as a member agency. SBIA has ­­­­­­­­­­­­­­­­­­­­­­­­13 employees led by Donald Malette, president. The …
  
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• N.Y. State Police Issued 14K Tickets During Thanksgiving Weekend

  04-12-2015 19:07
  
  New York Gov. Andrew Cuomo announced Thursday that the New York State Police issued more than 14,000 tickets as a result of increased enforcement efforts this Thanksgiving weekend. The enforcement period kicked off on Wednesday, Nov. 25 and ran through …
  
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• OSHA: Texas Workers Exposed to Asbestos at Construction Site

  04-12-2015 18:55
  
  Federal safety regulators say three commercial real estate renovators have been cited for a combined $112,000 in penalties for exposing workers to asbestos hazards at a San Antonio, Texas, worksite. FBZ Broadway LP, One Eighty Construction Inc. and Roscoe Properties Inc., …
  
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• Google Compare and the insurance industry: Threat or opportunity?

  04-12-2015 18:40
  
  Google Compare wants to partner with insurance carriers, not replace them, says CEO Nicolas Weng Kan.
  
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• Furniture Maker, Staffing Agency Fined $161K for Texas Workplace Hazards

  04-12-2015 18:27
  
  Furniture manufacturer, MooreCo Inc., and Milwaukee-based Manpower Group US Inc., a staffing agency, have been cited by federal safety regulators for exposing temporary workers to workplace hazards at a MooreCo plant in Temple, Texas. Combined penalties total $161,000. Twice in 14 …
  
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• Use of ATVs on Louisa County, Iowa, Roads Opposed

  04-12-2015 18:17
  
  Researchers are opposing a petition to allow all-terrain vehicles on Louisa County’s secondary roads, citing public safety. The proposal for roadway use was presented to the Louisa County Board of Supervisors on Nov. 24. Petition organizer Tim Gerst said that …
  
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• St. Louis Taxicab Commission Suit Against Lyft Dismissed

  04-12-2015 18:15
  
  A St. Louis judge has dismissed a lawsuit against the ride-hailing service Lyft. The St. Louis Post-Dispatch reports that a judge also lifted an injunction that barred Lyft from operating in St. Louis and St. Louis County. The St. Louis …
  
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• Oklahoma Disposal Well Plan Expected Following Recent Quakes

  04-12-2015 18:13
  
  The Oklahoma Corporation Commission is working to finalize a plan for wastewater disposal well operators to shut down or reduce volume in north-central Oklahoma, which has been rattled by a swarm of earthquakes. Commission spokesman Matt Skinner said the agency’s …
  
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• Judge Says Kinder Morgan Owes Investors Damages for El Paso Pipeline Deal

  04-12-2015 18:10
  
  Energy pipeline operator Kinder Morgan Inc. is on the hook for the bulk of $171 million in damages owed to investors in an affiliate of El Paso Corp., which Kinder Morgan acquired in 2014, a Delaware judge ruled on Wednesday. …
  
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• Number of Traffic Deaths in Minnesota Up from Last Year

  04-12-2015 18:08
  
  Traffic deaths in Minnesota in 2015 have surpassed last year’s totals. With a month left to go in the year, preliminary numbers from the Minnesota Department of Public Safety’s Office of Traffic Safety show 365 people have died so far …
  
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• Now is the time to make your business plan for 2016

  04-12-2015 18:00
  
  These tools and input from others can put your agency on the right track to profitability.
  
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• Connecticut Bans Use of Price Optimization in Insurance Rates

  04-12-2015 17:49
  
  Connecticut has joined the growing number of states that have banned the practice of “price optimization” in insurance pricing. Connecticut Insurance Commissioner Katharine L. Wade announced Friday that the state’s Insurance Department has officially warned property/casualty insurers against using a …
  
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• Washington Dairy Worker Death May Lead to More Regulations

  04-12-2015 17:47
  
  The investigation into the death of a Mabton, Wash. dairy worker who drowned in a manure pit shows the man had drugs in his system. Randy Vasquez drowned March 4 in a manure storage lagoon at Riverview Ranch. The dairy …
  
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• More Cases May Be Reported in Chipotle E. Coli Outbreak in Pacific Northwest

  04-12-2015 17:42
  
  Chipotle Mexican Grill Inc., which is revamping its food-supply standards in the wake of an E. coli outbreak that sickened dozens, said additional cases may be reported as states provide data to federal agencies. The illnesses, which the Centers for …
  
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• People on the move in the P&C insurance industry: Dec. 04, 2015

  04-12-2015 17:30
  
  News from AmWins, Assurance, Allianz and more
  
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• $305 billion highway funding bill heads to Obama's desk

  04-12-2015 16:40
  
  Five-year funding plan increases penalties for motor-safety violations to $105 million per incident.
  
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• Highway Bill Restores Crop Insurance Funding Cut in Budget Deal

  04-12-2015 16:12
  
  The $305 billion highway bill that was agreed upon by the House and Senate and is on its way to President Obama’s desk has a little something for everyone, including farmers and crop insurers. The five-year measure, called the Fixing …
  
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• Meeker Sharkey & Hurley Hires Ambrose as Benefits Practice Leader in N.J.

  04-12-2015 14:40
  
  Meeker Sharkey & Hurley, a Cranford, New Jersey-based provider of employee benefits and insurance services, has hired Richard Ambrose as senior vice president, Employee Benefits Practice leader. In his new role, Ambrose will lead the growth and development of the …
  
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• Mass. AG Announces $209K Settlement With American Fidelity Assurance

  04-12-2015 14:39
  
  American Fidelity Assurance Company (AFA), a life and health insurance company based in Oklahoma City, has agreed to pay $209,000 to settle allegations that it failed to cover mandated benefits required by state law and sold unauthorized health insurance to …
  
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• How a King of Coal Conspired Against Mine Safety

  04-12-2015 14:18
  
  To hear Donald L. Blankenship tell it, the U.S. coal industry has been undone by inept regulators, evil unions, the media and “global warming hoaxers.” But for jurors at his criminal trial in Charleston, West Virginia, it’s the king of …
  
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• Your key to success: Keep that negativity at bay

  04-12-2015 13:30
  
  Don't let negativity keep you down. Find your way back to the road to success.
  
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• Giving you more of what you want in 2016

  04-12-2015 13:15
  
  What an incredible year this has been. For NU, one might say that 2015 has been the year of relationships.
  
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• 10 factors affecting auto and P&C insurers

  04-12-2015 13:00
  
  Risks and opportunities abound in these insurance sectors.
  
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• ACE Appoints Leadership Team for Canada, Effective 1st Quarter of 2016

  04-12-2015 08:12
  
  ACE Ltd. announced the leadership team it has appointed for the company’s Canadian operations. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of 2016. As previously announced, Ellen …
  
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• Germany’s Talanx Strengthens Bancassurance Presence in Italy

  04-12-2015 07:50
  
  The Talanx Group, headquartered in Hannover, Germany, is strengthening its bancassurance business in Italy by acquiring the insurance companies belonging to the Italian banking group Gruppo Banca Sella. Via its Italian subsidiary HDI Assicurazioni SpA, Talanx is taking over 100 …
  
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• ECB Decision to Extend Quantitative Easing Hits European Insurers’ Shares

  04-12-2015 07:26
  
  Shares of European insurers fell after the European Central Bank decided to extend its quantitative easing program until at least March 2017 and broaden the range of assets purchased. The decision is “disappointing” because bond purchases by the ECB will …
  
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• AXA to Pay Higher Dividends as Result of ‘Robust’ Capital Levels

  04-12-2015 06:54
  
  AXA SA, France’s largest insurer, will pay higher dividends to shareholders because of its “robust” capital levels under solvency rules which are coming into effect in January. AXA plans dividend payouts of 45 percent to 55 percent of its adjusted earnings, …
  
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• UBS Hedge Fund to Manage Money for Bermuda Reinsurer Launched by Enstar

  04-12-2015 06:48
  
  UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected to be funded by third-party capital along with investments from …
  
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• Towers Watson Shareholders ‘Should Reject’ New Willis Deal, Says Proxy Adviser

  04-12-2015 06:38
  
  Towers Watson & Co. shareholders should vote against an $8.9 billion merger with Willis Group Holdings Plc even after the insurance broker increased the offer amid a backlash from investors, proxy adviser Glass Lewis & Co. said in a report. The transaction remains …
  
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• Main Street America Launches Commercial Lines Cyber Risk Coverage

  04-12-2015 06:22
  
  The Main Street America Group has launched a cyber risk protection offering designed for “Main Street” businesses in 19 states across the country. The coverage, available through Main Street America’s Main Line Business Owners Policy (Main Line BOP), is currently …
  
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• Florida’s Normandy Insurance Promotes Sublet to VP of Business Development

  04-12-2015 06:08
  
  Normandy Insurance has promoted Robert Sublet to vice president of Business Development. Formerly a senior field underwriter with Normandy, Sublet’s new role will focus on accelerating Normandy’s growth. During his tenure at Normandy, Sublet has worked on developing Normandy’s marketing …
  
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• Kentucky Governor Awards Power Plant for 2 Million Accident Free Hours

  04-12-2015 05:41
  
  A western Kentucky power plant is being honored with working more than 2 million hours without a lost-time accident. The employees of the Big Rivers Sebree station recently received the Governor’s Safety and Health Award for the feat. Kentucky Labor …
  
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• Blankenship Found Guilty of Conspiracy in W. Virginia Mine Blast

  04-12-2015 05:36
  
  Former Massey Energy Chief Executive Don Blankenship was found guilty in federal court on Thursday of conspiring to violate safety standards at the Upper Big Branch mine, the site of a 2010 blast that killed 29 people. Relatives of those …
  
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• Senate Joins House in Voting to Repeal Obamacare

  04-12-2015 03:14
  
  The U.S. Senate voted Thursday to repeal the core of Obamacare, bringing Congress closer to sending legislation to President Barack Obama for the first time that would dismantle his signature domestic achievement. Congressional Republicans won’t succeed in undoing the Affordable …
  
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