Insurance news

• Greenberg's big donation to Bush super-PAC was made 'months ago'

  07-01-2016 23:53
  
  Maurice 'Hank' Greenberg's insurance company, CV Starr & Co., donated $10 million to a super-PAC supporting Republican Jeb Bush's bid for the White House, making him one of the biggest contributors to the 2016 presidential race yet.
  
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• Insurance Costs for December Weather in US Could Top $2 Billion: Aon - Insurance Journal

  07-01-2016 23:50 via
  Insurance Journal
  Insurance Costs for December Weather in US Could Top $2 Billion: Aon
  Insurance Journal
  Total economic losses from the weather events in the U.S. during the month of December will exceed $4 billion, with insured losses likely to approach or exceed $2 billion, according to reinsurance intermediary Aon Benfield's Impact Forecasting. The ...
  US December weather-related insurance payouts may top $2 billion: reportYahoo News
  December weather-related insurance payouts may top $2BThe
  

• Insurance Giant AIG Cuts Several Sales Offices In Tennessee - WPLN

  07-01-2016 23:28 via
  WPLN
  Insurance Giant AIG Cuts Several Sales Offices In Tennessee
  WPLN
  American International Group Inc., one of the largest insurance companies in the nation, is closing about a dozen sales offices in Tennessee. AIG told staff Thursday that it's making major cuts to its Financial Network group, one of the company's sales ...and more »
  

• Reinsurance Group Head Puts Science in Climate Change Discussion

  07-01-2016 23:17
  
  Asked for his thoughts on climate change, Frank Nutter expeditiously turned to science. His sphere of influence is far-ranging as president of the Reinsurance Association of America, a position he’s held since 1991. Nutter has addressed the topic of climate …
  
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• Consumer Advocate: Insurance company denies roof repair reimbursement - Turn to 10

  07-01-2016 22:26 via
  Turn to 10
  Consumer Advocate: Insurance company denies roof repair reimbursement
  Turn to 10
  One Cranston woman said ice dams wrecked her roof last winter. Despite having insurance coverage, she had to pay for repairs out of pocket. (WJAR). 3shares. CRANSTON, R.I. — Winter has returned to Southern New England, yet many homeowners are ...
  

• Insurance 'loyalty tax' in the crosshairs - Bankrate.com

  07-01-2016 21:06 via
  Bankrate.com
  Insurance 'loyalty tax' in the crosshairs
  Bankrate.com
  But that's exactly what transpired in 2015 as consumer groups signaled they'd had it up to here with a practice known as "price optimization," by which some insurance companies, principally auto insurers, systematically jack up the rates on customers ...
  

• 5 Key Benefits of Comprehensive Auto Insurance - NerdWallet (blog)

  07-01-2016 20:50 via
  5 Key Benefits of Comprehensive Auto Insurance
  NerdWallet (blog)
  Comprehensive auto insurance sounds like a great deal. After all, who wouldn't want an auto insurance policy that's “comprehensive”? Surprisingly, comprehensive coverage pays to repair only a few, very narrowly defined problems — but these problems ...and more »
  

• Money Matters: Are there gaps in your insurance coverage? - WMUR Manchester

  07-01-2016 20:48 via
  WMUR Manchester
  Money Matters: Are there gaps in your insurance coverage?
  WMUR Manchester
  Advice offered by Marc Hebert, president of The Harbor Group Inc., a certified financial planner. If you have any questions about finance or if you'd like to suggest a future topic, email [email protected]. Related. Stocks plummet over China worries ...
  

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• Winter is back in America and here to stay for a little while

  07-01-2016 19:57
  
  The East Coast has been spoiled.
  
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• Fitch: Mexican Insurance Outlook Stable for 2016 - Reuters

  07-01-2016 19:46 via
  Fitch: Mexican Insurance Outlook Stable for 2016
  Reuters
  (The following statement was released by the rating agency) MONTERREY, January 07 (Fitch) Adequate performance in the short and medium term point to a stable outlook for the Mexican insurance sector in 2016, according to a new Fitch Ratings report.and more »
  

• R.I. Gov. Urges Legislature to Help Undocumented Immigrants Get Licenses

  07-01-2016 18:58
  
  Rhode Island Gov. Gina Raimondo has run out of time to carry out an ambitious promise she made on the campaign trail to grant driver’s licenses to immigrants in the country illegally. Raimondo signed a poster-sized pledge at a church …
  
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• National Insurance Crime Bureau Warns of Post-Disaster Scams in Texas

  07-01-2016 18:54
  
  The National Insurance Crime Bureau (NICB) announced it is working with law enforcement agencies, the Texas Department of Insurance and insurance companies to warn Texas storm victims about post-disaster rebuilding scams. After a disaster, contractors will often go door-to-door in …
  
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• ESIS Releases Mobile Response Tool for Construction Claims

  07-01-2016 18:49
  
  To assist clients in the aftermath of a construction accident, ESIS, Inc., a risk management services company and member of ACE Group – has introduced ESIS On Call for Construction, a proprietary response tool for severe workers compensation or complex automobile and general …
  
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• New Jersey Announces Approval of New Captive Insurer

  07-01-2016 18:40
  
  The New Jersey Department of Banking and Insurance has approved a captive insurer formed by the Deborah Heart and Lung Center of Browns Mills, New Jersey. The Department’s Acting Commissioner Richard J. Badolato announced the approval on Jan. 6. The …
  
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• Dallas-Area Tornadoes Account for a Big Chunk of December Insured Losses in U.S.

  07-01-2016 18:40
  
  A recently released report shows that damage estimates from the natural disaster events that occurred in the United States in December 2015 will amount to more than $4 billion. Aon Benfield’s catastrophe model development team, Impact Forecasting, Global Catastrophe Recap report, …
  
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• New York Insurance Agent Couple Charged With Defrauding Clients - Insurance Journal

  07-01-2016 18:37 via
  New York Insurance Agent Couple Charged With Defrauding Clients
  Insurance Journal
  New York authorities announced that a Rochester, New York, couple has been charged with defrauding their Rochester insurance agency clients. Gary Gubiotti and Bonnie Gubiotti, both 67, are accused of stealing more than $150,000 from clients by falsely ...
  

• California governor declares emergency for Sempra gas leak

  07-01-2016 18:37
  
  More than 2,000 families have been forced to temporarily relocate as a result of a gas leak detected on Oct. 23.
  
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• TWIA Files for Changes to Dwelling and Commercial Policies

  07-01-2016 18:28
  
  The Texas Windstorm Insurance Association has submitted new mandatory endorsements for its dwelling and commercial insurance policies to the Texas Department of Insurance for approval. The endorsements add storm doors to the list of items in the “Property Not Covered” …
  
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• County Chairman in Illinois Accused of Defrauding State Farm

  07-01-2016 18:27
  
  Federal prosecutors in Chicago have indicted the chairman of the McLean County Board for defrauding State Farm and a consulting firm of more than $400,000 in unearned consulting fees. Matt Sorensen and co-defendant Navdeep Arora are accused of billing clients …
  
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• Mass. Consumers, Businesses to Pay More for Health Insurance in 2016

  07-01-2016 18:14
  
  Massachusetts consumers and businesses are expected to pay more for health insurance in 2016. Blue Cross Blue Shield of Massachusetts, the state’s biggest commercial insurer, is raising premiums an average of 5 percent. Tufts Health Plan’s rates are set to …
  
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• New York Insurance Agent Couple Charged With Defrauding Clients

  07-01-2016 18:13
  
  New York authorities announced that a Rochester, New York, couple has been charged with defrauding their Rochester insurance agency clients. Gary Gubiotti and Bonnie Gubiotti, both 67, are accused of stealing more than $150,000 from clients by falsely inflating insurance …
  
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• How to avoid the dark side of claim 'best practices'

  07-01-2016 17:50
  
  Don't look now, but best practices are the rage. However, they can be a two-edged sword for companies that don't follow them.
  
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• Union Mutual of Vermont Companies Announces 4 Promotions

  07-01-2016 17:45
  
  Union Mutual of Vermont Companies announced that Jennifer P. Galfetti, Lisa L. Keysar, Gary H. Ouellette and Schuyler M. Ryan were recently promoted. Galfetti was named chief financial officer, Keysar and Ouellette were each elevated to executive vice president and …
  
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• Washington Artist Gets Settlement in ‘Angry Birds’ Lawsuit

  07-01-2016 17:34
  
  A pet toy company that designed a line of products after the “Angry Birds” video game characters has settled a lawsuit brought by a Seattle, Wash. artist. The artist, Juli Adams, said she came up with the idea for “Angry …
  
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• A.M. Earthquake Jolted Parts of Southern California

  07-01-2016 17:30
  
  An early morning earthquake with a preliminary magnitude of 4.5 shook the inland region of Southern California, according to the U.S. Geological Survey. The USGS says the quake occurred at 6:42 a.m. Wednesday and was centered 2 miles north of Banning, about 85 …
  
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• Criminal Investigation of Chipotle for Outbreak Tied to California Restaurant

  07-01-2016 17:28
  
  Chipotle has been served with a federal subpoena as part of a criminal investigation tied to a norovirus outbreak at one of its restaurants in California. The investigation is being conducted by the U.S. Attorney’s Office for the Central District …
  
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• Why your cyber insurance investment may not pay off - Computerworld

  07-01-2016 17:20 via
  Computerworld
  Why your cyber insurance investment may not pay off
  Computerworld
  As I write this article, there are a growing number of companies around the country that are feeling more financially secure than they should. Their security comes from their purchase of cyber insurance to help covers any costs related to a data breach ...
  

• Zurich Global Corporate North America Names AIG’s Pickens as Chief Underwriter

  07-01-2016 17:00
  
  Don Pickens is the new chief underwriting officer for Zurich’s Global Corporate in North America (GCiNA). The position was previously held by Patrick Daley, who will assume a new role as head of Property for the East region within GCiNA. …
  
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• Emergency Declaration from California Governor for Sempra Gas Leak

  07-01-2016 16:59
  
  California Gov. Jerry Brown declared a state of emergency to protect residents from natural gas that has been leaking from Sempra Energy’s underground storage site near Los Angeles for more than two months. Brown said he was directing state agencies …
  
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• Insurer Teachers Protective renamed TPM Life Insurance, acquired by AmFirst - LancasterOnline

  07-01-2016 16:51 via
  LancasterOnline
  Insurer Teachers Protective renamed TPM Life Insurance, acquired by AmFirst
  LancasterOnline
  The former Teachers Protective Mutual Life Insurance Co. has a new name, business structure and ownership. AmFirst Insurance Co., of Jackson, Mississippi, said this week it has acquired the small Lancaster-based insurer, now known as TPM Life Insurance ...
  

• Drone Registrations Top 180,000 in First 2 Weeks

  07-01-2016 16:27
  
  One of the most important players in the booming drone industry isn’t a hardware manufacturer; it’s the U.S. Federal Aviation Administration. So attendees at the Consumer Electronics Show on Wednesday flocked to hear a policy update from the FAA, which has begun to …
  
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• U.S. Releases ‘Do-Not-Fly-Zone’ App for Drone Operators: B4UFLY

  07-01-2016 16:17
  
  Drone operators who want to know if it’s safe and legal to operate their unmanned aircraft in a particular spot learned this week that there’s now an app for that from the government. The Federal Aviation Administration has released a …
  
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• Reinsurance prices fall in January contracts, brokers say

  07-01-2016 16:15
  
  Reinsurance companies have been struggling to keep their pricing power in a multi-year price decline driven by an over-supply of reinsurance capacity and weaker demand from insurers.
  
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• Judge Throws Out ‘Everybody Does It’ Defense in Shareholder Class Action

  07-01-2016 15:40
  
  Corporate legal battles are often decided on nuanced readings of dense statutes, but one recent ruling that could expose scores of U.S. companies to shareholder lawsuits turned partly on a much simpler defense: everybody is doing it. That failed to …
  
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• GM Backs Remote Software Updates But Not for Critical Systems

  07-01-2016 15:22
  
  General Motors Co. will not use ‘over-the-air’ upgrades, a way of remotely updating software on its vehicles, for safety-critical vehicle systems such as brakes, the automaker’s product development chief said on Wednesday, signaling a different approach from electric car maker …
  
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• Its Own Scientists Question EPA Claim Fracking Is Safe for Drinking Water

  07-01-2016 15:02
  
  A landmark study by the U.S. Environmental Protection Agency that concluded fracking causes no widespread harm to drinking water is coming under fire — this time, from the agency’s own science advisers. The EPA’s preliminary findings released in June were …
  
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• Zurich appoints former AIG VP as chief underwriting officer for North America

  07-01-2016 15:00
  
  Don Pickens, the former senior vice president and chief risk officer of AIG's global commercial business, has been hired by Zurich to serve as underwriting chief in North America.
  
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• Obama to Veto Affordable Care Act Repeal Passed by Congress

  07-01-2016 14:43
  
  The House voted Wednesday to repeal most of Obamacare, sending legislation to President Barack Obama for the first time that would dismantle his biggest domestic policy achievement. The 240-181 House vote, following Senate passage of the bill Dec. 3, won’t …
  
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• AIG CEO Hancock Plans Public Webcast on His Vision, ‘Proactive Plan’ for Insurer

  07-01-2016 14:36
  
  American International Group Inc., the insurer that has rebuffed activist investor Carl Icahn’s push to divide into three companies, set a Jan. 26 presentation to outline Chief Executive Officer Peter Hancock’s vision. The presentation will be a live webcast at …
  
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• How insurance advisors can best serve ‘modern’ families

  07-01-2016 13:15
  
  As family structures in the U.S. have changed significantly, so have the financial concerns of new family configurations, Allianz reports.
  
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• 10 safest and most hazardous U.S. cities for driving in bad weather

  07-01-2016 13:00
  
  Wet winter weather poses a particular dangerous risk to drivers on our nation's streets and highways.
  
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• Ranchers search on Facebook for missing cows after U.S. storm

  07-01-2016 12:30
  
  Ranchers and dairy farmers in New Mexico and western Texas have gone online in their search for thousands of missing cattle a week after an historic two-day blizzard buried herds.
  
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• H.W. Kaufman Financial Group Acquires Toronto-Based Technical Risk Services

  07-01-2016 08:38
  
  H.W. Kaufman Financial Group, headquartered in Farmington Hills, Mich., has acquired Technical Risk Services (TRS), a Toronto, Canada-based specialist in loss control services, inspections, and risk control consulting. TRS is a full-service loss control inspection and consulting firm that has …
  
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• 2 North Carolina Residents Accused of Accused of Insurance Fraud

  07-01-2016 08:18
  
  North Carolina Insurance Commissioner Wayne Goodwin announced the arrests of Dewayne Dudley of Bayboro and Elegant Adele Jackson of Havelock. They are both charged with one count each of insurance fraud and attempting to obtain property by false pretense in …
  
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• Risk of ‘Brexit’ Pushes U.K. Services Firms’ Confidence to 3-Year Low

  07-01-2016 08:16
  
  Confidence among U.K. services firms slid to a three-year low last month as the risk of Britain exiting the European Union weighed on executives’ minds. The drop in sentiment was reported by Markit Economics in its monthly sector survey. The …
  
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• Woman pleads guilty to burning OC homes, cars for insurance money - OCRegister

  07-01-2016 08:08 via
  OCRegister
  Woman pleads guilty to burning OC homes, cars for insurance money
  OCRegister
  Irvine Co. will turn big to small as it demolishes Macy's, adds up to 20 new shops at Spectrum · FitBit sued over claims heart trackers miss the beat big-time · How accurate are the Golden Globes at predicting the Oscars? Savagery and virtuosity mingle ...
  RSM Woman Pleads to Setting Her Homes Ablaze for Insurance MoneyPatch.comall 3 news articles »
  

• RSA Revamps Marine Management Team in Response to Challenging Market

  07-01-2016 08:06
  
  London-based RSA Insurance has revamped its marine management team “to better meet the challenges and opportunities in today’s marine insurance market.” In three newly created roles: Rob Cook has been appointed London market marine director, David Taylor has been appointed Europe and …
  
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• Florida Surplus Line Service Office Names Young Assistant Director of Agent Services

  07-01-2016 08:05
  
  Florida Surplus Line Service Office (FSLSO) has promoted Bryan Young to assistant director of Agent Services Young stepped into the role effective Jan. 1 after 10 years of service with FSLSO. During his tenure with FSLSO, Young has worked in …
  
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• Traffic Deaths Increased 13% in Wisconsin in 2015

  07-01-2016 07:42
  
  Wisconsin transportation officials say traffic deaths increased by 13 percent in 2015. The state ended the year with 556 fatalities, up from 494 in 2014. Department of Transportation officials said in a news release that warm spring weather, cheap gas …
  
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• Tennessee Sees Sharpest Increase in Pedestrian, Bicycle Deaths Since 1984

  07-01-2016 07:40
  
  Tennessee officials have recorded more pedestrian and bicycle deaths in 2015 than in any other year in the past two decades. WPLN reports that statistics show 120 pedestrians and bicyclists had died as of Dec. 29. By comparison, there were …
  
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