Insurance news

• The Gift: NU Editor-in-Chief Shawn Moynihan's Give Kids the World speech

  08-12-2015 21:07
  
  It’s not every day that you gain the type of invaluable perspective that informs the rest of your days.
  
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• Connecticut bans use of price optimization for insurance rates

  08-12-2015 21:00
  
  Connecticut becomes the 16th state to prohibit the practice, which relies more on consumer buying habits than risk-based principles.
  
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• Boston Chipotle Shuts Down After Scores of BC Students Get Sick

  08-12-2015 20:23
  
  Chipotle Mexican Grill Inc., reeling from an E. coli outbreak that has sickened dozens of customers, closed a restaurant in Boston following complaints of “gastrointestinal symptoms” from scores of Boston College students, including members of the men’s basketball team. “Our …
  
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• Chipotle shuts restaurant after college students get sick

  08-12-2015 19:33
  
  Chipotle Mexican Grill Inc. closed a restaurant in Boston following complaints of “gastrointestinal symptoms” from scores of Boston College students, including members of the men’s basketball team.
  
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• Home Depot says it did not authorize settlement notices sent over holiday

  08-12-2015 19:30
  
  In court filing, retailer's lawyers acknowledge "tentative" agreement with MasterCard.
  
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• Insurance Swindler Sent to Prison for Violating Release Terms in Conn.

  08-12-2015 19:00
  
  Insurance swindler and former international fugitive Martin Frankel has been sentenced to six months in prison for violating the terms of his release. Prosecutors say a federal judge in New Haven, Connecticut, sentenced the 61-year-old convict on Dec. 3. Frankel …
  
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• Insurance Fraudster Heads Back to Jail for Violating Release Terms in Conn.

  08-12-2015 19:00
  
  Insurance swindler and former international fugitive Martin Frankel has been sentenced to six months in prison for violating the terms of his release. Prosecutors say a federal judge in New Haven, Connecticut, sentenced the 61-year-old convict on Dec. 3. Frankel …
  
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• Woodruff-Sawyer to Acquire Capstone Insurance in Massachusetts

  08-12-2015 18:57
  
  Woodruff-Sawyer & Co., an independent brokerage based in San Francisco, announced today that it will be acquiring Capstone Insurance, the property/casualty brokerage division of Newton, Massachusetts-based financial services firm EBS Capstone. The transaction is expected to be completed by the …
  
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• South Carolina Insurers to Weather At Least $181M in Claims from October Storm

  08-12-2015 18:57
  
  The mega-storm that devastated South Carolina in early October is estimated to have cost more than $1.4 billion with insurers paying around $181 million of those losses in claims, so far. South Carolina Gov. Nikki Haley announced the flood damage …
  
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• Carjackings Rise in New Orleans for 2nd Straight Year

  08-12-2015 18:55
  
  Carjackings are rising quickly in New Orleans, and analysts don’t know why. Carjackings remained fairly steady from 2010 through 2013, but the number rose from 53 in 2013 to 145 so far this year, The New Orleans Advocate reported Sunday. …
  
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• Entrepreneurs Raise $13 Million to ‘Reinvent’ U.S. P/C Insurance with Peer-to-Peer Insurer

  08-12-2015 18:52
  
  The U.S. property/casualty insurance industry is about to be tested directly by the sharing economy. Two tech entrepreneurs have raised $13 million in initial funding to launch a peer-to-peer online property/casualty insurance company named Lemonade, which they promise will reinvent …
  
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• Judge Suspends Lawsuit over Stolen Nazi Art at U. of Oklahoma

  08-12-2015 18:50
  
  A federal judge has suspended activity in a lawsuit that challenges the ownership of a painting that hangs at a University of Oklahoma art gallery as negotiations continue with a French woman who claims the artwork was stolen from her …
  
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• Judge Suspends Lawsuit Against U. of Oklahoma over Stolen Nazi Art

  08-12-2015 18:50
  
  A federal judge has suspended activity in a lawsuit that challenges the ownership of a painting that hangs at a University of Oklahoma art gallery as negotiations continue with a French woman who claims the artwork was stolen from her …
  
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• Texas State Fire Marshal Report: Fire Occurred Every 7 Minutes in 2014

  08-12-2015 18:44
  
  In 2014, 957 fire departments in Texas reported 72,124 fires, with a fire occurring every seven minutes, 163 civilian fire deaths, 780 civilian fire injuries and $662,625,954 in property, according to a report from the State Fire Marshal’s Office. In …
  
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• Illinois DOT: Back-Seat Passengers more Likely Unbuckled

  08-12-2015 18:29
  
  Illinois law has required back-seat passengers to wear seat belts since 2012. An Illinois Department of Transportation survey shows nearly 85 percent of the state’s back-seat passengers are buckling up, an increase of 7 percentage points since 2013. But it’s …
  
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• Rockhill Insurance Realigns Underwriting Management Team

  08-12-2015 18:27
  
  Rockhill Insurance Group, based in Kansas City, Mo., announced it has realigned its organizational underwriting structure to better serve wholesale brokers. Chief Operating Officer Doug Goode now presides over three main product teams led by the following regional presidents: Mike Towell, regional …
  
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• Hyundai Motor considers developing chips for autonomous driving

  08-12-2015 18:26
  
  Hyundai Motor Co. is considering developing its own computer chips and sensors used in autonomous driving to gain fuller control over components seen as being crucial to future development of cars.
  
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• Bates Named President of Atain Insurance

  08-12-2015 18:25
  
  H.W. Kaufman Financial Group, headquartered in Detroit/Farmington Hills, Mich., has hired Wayne Bates to serve as president of Atain Insurance Cos. and corporate senior vice president of Kaufman Financial Group. He will be responsible for leading Atain’s overarching growth strategy, …
  
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• JLT Specialty Hires Brown as SVP of Fine Art, Jewelry & Specie Practice in N.Y.

  08-12-2015 18:22
  
  JLT Specialty USA, a U.S. subsidiary of London-based Jardine Lloyd Thompson Group plc. (JLT), has hired Nikki Brown as senior vice president of the Fine Art, Jewelry and Specie practice. She is based in New York City. Brown most recently …
  
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• N.Y. Sen. Schumer Calls for Increased Federal Funding for Fire Departments

  08-12-2015 17:39
  
  Federal funding for fire departments looking to buy new equipment or train new firefighters is down, putting pressure on local departments to do more with less. U.S. Sen. Charles Schumer says less than one in four departments that sought help …
  
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• Widow of Wyoming Man Killed by Sleeping Trucker Files Suit

  08-12-2015 17:29
  
  The widow of a man who died after a truck driver fell asleep at the wheel and struck him in southern Wyoming is suing for wrongful death. The Rock Springs Rocket-Miner reported that Katsiaryna Krauchanka has filed a complaint against …
  
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• New Rules to Govern Taxis, Uber, Lyft Approved by Oregon City

  08-12-2015 17:27
  
  Ridesharing services such as Uber and Lyft should continue to operating in Portland, Ore. after the City Council approved a new set of rules to govern taxis. The Oregonian reported that the council voted last week to allow ridesharing services to …
  
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• Red Shield Names Tufts Underwriting Department Manager in Oregon

  08-12-2015 17:21
  
  Red Shield Insurance Co. has named Kevin Tufts an underwriting department manager in Portland, Ore. Tufts has 21 years of experience in commercial lines underwriting. He started his insurance career as a workers’ compensation underwriter for Grocers Insurance in 1994. …
  
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• African Bank in Talks with MMI’s Guardrisk on Insurance Joint Venture

  08-12-2015 17:18
  
  African Bank Investments Ltd.’s lending unit, which collapsed last year, said it is in “advanced” talks with MMI Holdings Ltd.’s Guardrisk business to form an insurance joint venture that will support a revived bank when it starts afresh in April. …
  
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• Obamacare Turns to Start-Ups to Boost Enrollment in Marketplaces

  08-12-2015 17:15
  
  Two health-care startups will work with the White House to boost the number of Americans who obtain insurance through marketplaces created under Obamacare. ZocDoc Inc. and Oscar Health Insurance Corp. are providing free Internet advertising that will target the uninsured, …
  
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• 9 tips to get your Christmas tree home safely without damaging your vehicle

  08-12-2015 17:00
  
  Help your clients avoid an auto insurance claim and stay safe on the road by sharing these tips for hauling Christmas trees.
  
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• India Floods Top Aon Benfield/Impact Forecasting’s November Cat Recap

  08-12-2015 16:39
  
  Impact Forecasting, Aon Benfield’s catastrophe model development team, has issued the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of natural disaster events that occurred worldwide during November 2015. The report leads off with an …
  
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• Softening of P/C Commercial Markets, Including D&O, to Continue: Fitch

  08-12-2015 14:50
  
  U.S. commercial insurance market segments, including directors and officers (D&O) liability insurance, are continuing to soften and are likely to stay on this path for the near-term even as several large competitors merge, Fitch Ratings says. Premium rates in property …
  
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• The power of "why" for your insurance agency

  08-12-2015 13:30
  
  The power of “why” for your insurance agency.
  
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• Booming restaurant and bar business is an opportunity for insurance sellers

  08-12-2015 13:15
  
  There are a lot of risks involved when serving food or selling alcoholic beverages. Do your prospects have the right kind of coverage?
  
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• Cyber Insurance Underwriting Moves from ‘Toddler’ to ‘Teen’ As Insurers Learn from Claims

  08-12-2015 12:43
  
  Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one would be wrong, …
  
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• PwC UK Raises Desmond Insured Loss Estimates: $375 to $487.5 Million

  08-12-2015 12:36
  
  Commenting on the impact of Storm Desmond, Mohammad Khan, general insurance leader at PwC UK, stated that the accounting firm’s “current estimate of the damage caused by Storm Desmond is £400 million – £500 million [$600 – $750.2 million] with …
  
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• Swiss Re Confirms ‘Four Pillar’ Strategic Framework for Continued Growth

  08-12-2015 11:49
  
  Swiss Re, at its annual Investors’ Day Conference, unveiled its strategic framework to “position the company strongly vis-à-vis current and future opportunities and challenges facing the re/insurance industry.” The world’s second largest reinsurer said it would stress “systematic and fast …
  
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• Sino-Ocean Land Says Nan Fung Sells Shares to Anbang Insurance Group

  08-12-2015 11:44
  
  Sino-Ocean Land Holdings Ltd. said Anbang Insurance Group Co. purchased about a fifth of the Chinese developer’s shares from members of Nan Fung Group Holdings Ltd. for HK$7.8 billion ($1 billion). Members of closely held Nan Fung, based in Hong …
  
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• Insurers Braced for Claims Surge as 10-Year High Floods Hit India

  08-12-2015 11:41
  
  Insurers from Lombard General Insurance Co. to American International Group Inc. are bracing for a surge in Indian claims to a 10-year high after unprecedented floods last week ravaged Chennai, the city home to factories of Ford Motor Co. and …
  
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• Mississippi Capitol Moves Closer to Regulating Ridesharing Entities

  08-12-2015 07:31
  
  Jackson has taken a step toward regulating ride-hailing services such as Uber after the Rules Committee of the Jackson City Council voted to send a suggested ordinance to the full council. The suggested regulations include a $5,000 registration application fee …
  
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• South Carolina Lawmaker Proposes Sorority, Fraternity Information Database

  08-12-2015 07:25
  
  A South Carolina lawmaker is proposing that the state set up an online database where violations, arrests and investigations linked to fraternity and sorority activities at the state’s public colleges can be listed. The Anderson Independent Mail reports the legislation …
  
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• North Carolina Supreme Court Weighing At-Will Firing Practices of State Sheriffs

  08-12-2015 07:14
  
  A trio of lawsuits is challenging the long-standing ability of North Carolina sheriffs to fire their deputies at will – a practice critics say allows some to maintain personal political fiefdoms where paychecks and patronage are connected. North Carolina’s Supreme …
  
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• Insurance Executive Sees Problems, Opportunities in L.A.’s Earthquake Law

  08-12-2015 01:10
  
  Who’s going to pay? It’s a big question that will face front of landlords of thousands of Los Angeles properties early next year. When the Los Angeles City Council unanimously voted in October for new earthquake retrofit regulations it put …
  
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• Stronger truck guards proposed to cut rear-impact deaths

  08-12-2015 00:44
  
  The U.S. National Highway Traffic Safety Administration is proposing that trucking companies be required to install stronger guards on their trailers to reduce deaths caused when cars rear-end tractor trailers.
  
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