Insurance news

• Carmakers aren't going to let Google monopolize self-driving car software

  13-01-2016 22:55
  
  The likes of Google probably aren't going to build their own vehicles, self-driving or otherwise. Traditional car companies will do it for them.
  
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• The good news on global warming: We’ve delayed the next ice age

  13-01-2016 22:19
  
  The carbon dioxide humans have added to the atmosphere will alter the climate of the planet for tens to hundreds of thousands of years, and has delayed the next ice age.
  
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• Cross Insurance Hires Jermyn as Employee Benefits VP in Maine

  13-01-2016 21:59
  
  Cross Insurance, an insurance agency headquartered in Bangor, Maine, has hired Eric Jermyn as vice president of business development for Cross Employee Benefits. He will be based in Portland, Maine. In this new role, Jermyn is responsible for leading Cross …
  
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• MetLife Spinoff Plan to Could Add to Pressure on AIG to Split

  13-01-2016 21:38
  
  After General Electric Co. began selling finance operations to exit too-big-to-fail status, American International Group Inc. Chief Executive Officer Peter Hancock said it wasn’t clear that escaping the government risk tag would offer significant benefits to his company. Then in …
  
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• MetLife Spinoff Plan Could Add to Pressure on AIG to Split

  13-01-2016 21:38
  
  After General Electric Co. began selling finance operations to exit too-big-to-fail status, American International Group Inc. Chief Executive Officer Peter Hancock said it wasn’t clear that escaping the government risk tag would offer significant benefits to his company. Then in …
  
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• Flood outlook improves for river near New Orleans, Baton Rouge

  13-01-2016 20:49
  
  The threat of flooding is subsiding across the lower Mississippi River region just two weeks after high waters devastated parts of the St. Louis area.
  
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• Insurers not quite reaching digital transformation, survey says

  13-01-2016 20:10
  
  Accenture survey reveals where carriers are meeting and falling short of meeting customer expectations, plus four guiding principles to creating a modern insurance marketplace.
  
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• ProSight Specialty Hires Kenny as Senior Executive in New Jersey

  13-01-2016 20:02
  
  ProSight Specialty Insurance has hired Kevin Kenny as senior executive, Strategic Initiatives. He is based in ProSight’s Morristown, New Jersey, headquarters office. In his new role, Kenny will oversee the development of new partnerships and new programs for ProSight. Kenny …
  
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• New Tennessee law allows cops to tow uninsured drivers

  13-01-2016 19:05
  
  Move is part of state's crackdown on an estimated 660,000 uninsured motorists.
  
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• Former Pennsylvania Theater Owner Gets Prison for Insurance Fraud

  13-01-2016 18:59
  
  A former Pennsylvania theater owner convicted of falsifying insurance claims involving a flood at one playhouse and a fire at another has been sentenced to 2 1/2 years in prison. Federal investigators say New Hope, Pennsylvania, resident Ralph Miller also …
  
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• General Star Delegated Division Launches Web-Based Quoting System

  13-01-2016 18:58
  
  General Star has introduced General Star Connect, a cloud-based rating software system developed by ClarionDoor, LLC, and customized for General Star’s Contract P&C unit of the Delegated Division. General Star’s quoting process through ClarionDoor automates the manual quoting process, and …
  
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• Higginbotham Adds Clarke as Loss Control Specialist in Corpus Christi

  13-01-2016 18:55
  
  Texas based independent insurance firm, Higginbotham, hired Peter Clarke, as senior loss control consultant in its Corpus Christi office. The Corpus Christi loss control department serves customers throughout the state. The department helps businesses identify their property and liability exposures …
  
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• Kentucky Governor to Dismantle State Health Exchange

  13-01-2016 18:43
  
  Kentucky Republican Gov. Matt Bevin has notified federal authorities he plans to dismantle the state’s health insurance exchange. Bevin campaigned on a pledge to get rid of the exchange, known as kynect. It was authorized by an executive order from …
  
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• Wallace Welch & Willingham Acquires Florida Agency Sondregger Insurance

  13-01-2016 18:40
  
  Wallace Welch & Willingham (W3) has acquired Sondregger Insurance, an independent agency based in St. Petersburg, Fla. The acquisition was made final on December 9, 2015. Sondregger Insurance specializes in personal and business insurance. The agency brings one employee and …
  
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• Roebuck Joins Amerisure Mutual to Direct Quality Assurance

  13-01-2016 18:40
  
  Amerisure Mutual Insurance Co., based in Farmington Hills, Mich., announced Justin Roebuck has joined the company as director of Business Analysis & Quality Assurance. In this role, Roebuck directs and advises the Amerisure business analysis staff on best practices and …
  
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• C2 Solutions Adds Holmes Murphy as New Member Firm

  13-01-2016 18:38
  
  C2 Solutions (C2), an organization formed by a group of independent employee benefits consulting firms, has added Iowa-based Holmes Murphy & Associates as a new member. Holmes Murphy has offices in Des Moines, Iowa; Dallas, Texas; and other cities across …
  
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• Oklahoma Licensed 26 Captive Insurers Last Year

  13-01-2016 18:35
  
  Oklahoma’s captive insurance industry grew in 2015 with the licensing of 26 captive insurers, the Oklahoma Insurance Department announced. With the addition of the 26 new captives, Oklahoma currently regulates 73 captive insurers. Captive insurers in general are insurance companies …
  
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• Missouri Insurance Director: Price Optimization Violates Missouri Law

  13-01-2016 18:34
  
  The Missouri Department of Insurance has issued a bulletin to Missouri insurers reminding them that the rating practice generally known as “price optimization” is prohibited in the state. “Price optimization” is the practice of measuring and modifying insurance prices based on an …
  
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• How to insure against employee dishonesty

  13-01-2016 18:30
  
  Despite a strengthening global economy, incidents of employee theft continue to rise.
  
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• 60% of P/C Executives See 2016 Much Like 2015; 55% Expect Democrat to Win White House

  13-01-2016 18:29
  
  Leaders of the property/casualty insurance industry expect 2016 to be a profitable year much like 2015 but do not see any increase in profitability this year for most lines of insurance, and they do not expect the economy to stay …
  
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• Godfread to Run for Insurance Commissioner in North Dakota

  13-01-2016 18:28
  
  A lawyer and a state chamber of commerce vice president says he is running for North Dakota insurance commissioner. Jon Godfread is a Republican. He is vying for the seat being vacated by Adam Hamm, who announced in December that …
  
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• Blue Bell: Ice Cream Safe Despite Potential Concern

  13-01-2016 18:27
  
  Blue Bell Creameries is seeking to reassure customers that its ice cream in safe, even as the Texas company tries to determine whether listeria has again been found at one of its plants. Blue Bell is in in the midst …
  
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• Paulson’s PaCRe Shuts Down After Investment Slump, Bermuda Tax Uncertainties

  13-01-2016 18:10
  
  Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its insurance policies …
  
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• MetLife unit’s SIFI off-ramp may pressure AIG as Icahn looms

  13-01-2016 18:09
  
  MetLife, the largest U.S. life insurer, said it’s considering a sale, spinoff or public offering of much of the retail operation.
  
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• AssuredPartners Acquires Archer A. Associates in New York

  13-01-2016 18:00
  
  AssuredPartners Inc. announced that it has acquired the business of Archer A. Associates Insurance, an independent agency based in Franklin Square on Long Island, New York. Terms of the transaction were not disclosed. The team of 21 employees at Archer …
  
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• Hacker group attacks Nissan Motor Co. website over whale hunt

  13-01-2016 17:47
  
  A hacker group is stepping up attacks on the websites of Japanese institutions in protest against the country’s whale hunting.
  
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• Self-braking cars top 2016 wish list of U.S. safety agency

  13-01-2016 17:13
  
  Safety officials want to see more technology used to reduce accidents on U.S. roads, airways and railroads.
  
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• Around the P&C insurance industry: Jan. 13, 2016

  13-01-2016 17:00
  
  News from Innovation Group, ESIS, H.W. Kaufman and more.
  
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• Online Agency Insureon Adds Hartford, PwC Execs to Leadership Team

  13-01-2016 16:21
  
  Insureon, an online agency for small business insurance, said it has expanded its leadership team to include Brandon Hickey as president of Insureon Brokerage and Mark Thompson as senior vice president, Product Excellence. A 30-year veteran of the insurance industry, …
  
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• A.M. Best Restructuring Separates Ratings Services from Publications

  13-01-2016 15:43
  
  Citing increased regulation of credit rating services and heightened competition in information services, A.M. Best has restructured its operations to separate its rating and research services from its publications and other information products. The reorganization creates a new subsidiary, A.M. …
  
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• Planning: What a concept!

  13-01-2016 13:15
  
  Gone are the days of two-week vacations, long lunches and seasonal lulls. There is always going to be something else that lands in your inbox or on your desk that requires your immediate attention. Always.
  
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• 4 tips to limit the risk of a big catastrophe getting bigger

  13-01-2016 13:00
  
  Climate and catastrophe risk experts are concerned about increased extreme weather risks and seismic activity. Here are ways you can make sure you have the right coverage.
  
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• Swiss Re Appoints O’Neill as CEO of UK & Ireland

  13-01-2016 10:47
  
  Swiss Re announced that Frank O’Neill has been appointed CEO of the company’s UK & Ireland business, effective Feb. 1. O’Neill has been the CEO of Swiss Re’s Middle East and Africa business for the past three years. He replaces …
  
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• France’s CNP Assurances in Talks to Buy BTG’s Brazil Insurance Units

  13-01-2016 10:24
  
  French insurer CNP Assurances has entered exclusive talks with Grupo BTG Pactual SA to buy its 51 percent stake in Brazilian insurer Pan Seguros, two sources familiar with the matter said on Tuesday. CNP Assurances has offered 1.6 billion Brazilian reais ($396 million) …
  
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• Expect Urban Deliveries by Drones within Few Years: Google

  13-01-2016 10:00
  
  Product delivery-by-drone in urban areas may be possible within a few years if the U.S. government and the aviation industry agree to work cooperatively on the new technology, the chief of Google Inc.’s drone cargo project said Monday. The swift …
  
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• Guy Carpenter Launches EMEA Advisory Council to Support its Regional Growth

  13-01-2016 09:40
  
  Guy Carpenter & Co. has established an EMEA Advisory Council to support its growth plans in the region. The council is specifically designed to provide advice and to inform the EMEA regional leadership’s strategy and its implementation, said Guy Carpenter …
  
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• Brit Ltd. Renews and Expands its Bermuda Special Purpose Insurer, Versutus

  13-01-2016 09:25
  
  Brit Ltd. announce the renewal and expansion of the collateralized reinsurance capacity provided by the Bermuda domiciled special purpose insurer Versutus Ltd., in support of Brit’s property treaty portfolio for 2016. The special purpose insurer will be capitalised at $82.5 …
  
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• Update: Dutch Insurer Aegon Plans $432M Share Buy-Back, to Cut U.S. Costs

  13-01-2016 09:02
  
  Aegon NV jumped the most in almost six years after saying it plans to buy back 400 million euros ($432 million) of shares and cut costs to improve its return on equity. The Dutch owner of insurer Transamerica Corp. announced a plan …
  
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• Update: Dutch Insurer Aegon Plans $432M Share Buy-Back, Cut U.S. Costs

  13-01-2016 09:02
  
  Aegon NV, the Dutch owner of insurer Transamerica Corp., plans to buy back as much as 400 million euros ($432 million) of its shares as the company seeks to reduce costs in the U.S. and improve its return on equity. …
  
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• Analyst Says Investors Support Icahn on AIG Revamp

  13-01-2016 09:00
  
  Most American International Group Inc. investors believe that billionaire activist Carl Icahn is right that the insurer needs a new strategy, according to a Sanford C. Bernstein & Co. analyst who polled shareholders. In a survey of more than 100 …
  
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• Israel Emerges as Leader in Developing Cyber Defenses for Cars

  13-01-2016 08:46
  
  Building on its expertise in technology, Israel is emerging as a leader in the race to keep cars secure and prevent the nightmare scenario of a hacker commandeering your vehicle. Most cars today are equipped with some level of connectivity …
  
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• Report: Mississippi Insurers Not Overcharging Coastal Residents

  13-01-2016 02:36
  
  Results of Mississippi’s Property Insurance Clarity Act Data Call are in and they confirm what insurance experts in the state say they already knew: insurers are not overcharging coastal residents in Mississippi. In fact, many Mississippi homeowner insurers are actually …
  
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• Insurers to Pay Port in Washington Soil Contamination Suit

  13-01-2016 01:11
  
  A Cowlitz County, Wash. judge has ordered insurers to pay the Port of Longview $2.45 million in attorney fees in an ongoing lawsuit over soil contamination. The Daily News reported that the order is the latest development in complex case …
  
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• Worst State for Emergency Response Times: Wyoming

  13-01-2016 01:08
  
  According to a recent study, Wyoming is worst in the nation for response times for road emergencies. The Casper Star-Tribune reported that a national study by Auto Insurance Center using National Highway Traffic Safety Administration data concluded that the slow …
  
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• Expert Sounds off on Legal, Insurance Issues of Self-driving Cars

  13-01-2016 00:56
  
  Editor’s note:  To hear the full interview click on the podcast above or visit www.insuarncejournal.tv. Hilary Rowen, a partner in the law firm of Sedgwick LLP in Sacramento, Calif., for the last three years, has been analyzing and following the …
  
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• Worldwide Names Vassallo Senior Vice President in New California Office

  13-01-2016 00:48
  
  Worldwide Facilities has opened a new location in the South Bay area of Los Angeles, Calif. and has named Brian Vassallo senior vice president in the office. Vassallo will focus on providing service to clients and strengthening market relationships, as …
  
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