Insurance news

• Allstate fourth-quarter profit declines 41% as auto claims rise

  03-02-2016 23:52
  
  Lower fuel prices have put more people on the road, spurring more claims to Allstate and a deteriorating underlying combined ratio — a measure of the insurer’s profitability.
  
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• Who gets the dog in the divorce? MetLife mulls Snoopy’s fate

  03-02-2016 22:56
  
  MetLife has to decide whether to keep Snoopy and his Peanuts friends, or if the comic-strip crew will depart with a U.S. retail business that the company plans to sell, spin off or divest to investors in a public offering.
  
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• Bill to privatize U.S. air-traffic would ban in-flight calls

  03-02-2016 21:58
  
  The U.S. air-traffic control system would be spun off to a nonprofit corporation and airline passengers wouldn’t be allowed to talk on mobile phones under sweeping new legislation.
  
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• Obama Administration takes steps to increase earthquake resilience

  03-02-2016 20:35
  
  Executive order establishes federal standard for earthquake risk management.
  
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• Zurich Insurance ready to shrink to cut claims, risk chief says

  03-02-2016 20:04
  
  Zurich is “prepared to shrink” some of its businesses after being caught off guard by the scale of claims it had to absorb last year, according to Cecilia Reyes, the company’s chief risk officer.
  
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• Weed shops prep for a Super Bowl with (almost) legal pot

  03-02-2016 19:11
  
  The San Francisco Bay area is the first region to host a Super Bowl in a state where marijuana is readily available, though technically only legal for medical purposes.
  
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• Oklahoma Lawmaker: Small Businesses Back Asset Forfeiture Reform

  03-02-2016 18:41
  
  An Oklahoma state lawmaker has filed a bill that would reform Oklahoma’s civil asset forfeiture law, an effort he says is supported by small businesses in the state. In May 2015, Sen. Kyle D. Loveless (R-Oklahoma City) filed Senate Bill …
  
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• Storm leaves parts of Midwest buried in snow, sets off tornadoes in the South

  03-02-2016 18:30
  
  Several homes were damaged after at least two tornadoes hit Mississippi.
  
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• Lawmakers Seek Ways to Improve Amish Safety on Wisconsin Roads

  03-02-2016 18:29
  
  Amish safety on Wisconsin roads needs to be addressed in the wake of recent fatal buggy crashes, according to a state lawmaker. Republican State Rep. Bob Kulp of Stratford hopes the Amish communities in Wisconsin would be open to a …
  
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• Study: Guardrails Along Canals in Jefferson Parish Would Cost Millions

  03-02-2016 18:25
  
  An engineering study finds it would cost at least $100 million to install enough barriers to prevent cars from veering into any of the uncovered drainage canals on the east bank of Jefferson Parish in Louisiana. The New Orleans Advocate …
  
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• FBI Joins Investigation into Lead Contamination of Flint Water System

  03-02-2016 18:22
  
  The FBI is working with a multi-agency team investigating the lead contamination of Flint’s drinking water, alongside Environmental Protection Agency investigators who can tackle criminal violations of federal environmental law, officials said. Several local, state and federal officials have resigned …
  
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• Drought-weary eyes watch California’s normal winter unfold

  03-02-2016 18:12
  
  California is having a pretty normal winter, give or take a degree here and a bit of snow there.
  
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• Buffalo Wild Wings tumbles on report of illnesses in Kansas

  03-02-2016 17:32
  
  Kansas health officials said they were investigating reports of a gastrointestinal illness that sickened at least 10 customers.
  
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• Around the P&C insurance industry: Feb. 3, 2016

  03-02-2016 17:30
  
  News from Kennedys, Praxis Consulting, Hiscox and more.
  
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• International Insurers Still Reluctant to Provide Cover for Iran Oil Cargoes

  03-02-2016 17:27
  
  Oil companies looking to steal a jump on rivals in the race to benefit from Iran’s emergence from Western sanctions risk having tankers left in limbo by international insurers’ continued reluctance to provide cover. While companies jockey for position after …
  
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• California City Misused Disaster Relief Funds, Audit Finds

  03-02-2016 17:27
  
  A federal audit has found the city of San Diego, Calif. did not properly use $1. 2 million in disaster relief funds of the $6 million it received for damage from flooding and mudslides five years ago. The Jan. 25 …
  
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• Kenai Peninsula Agencies Brief Alaska Governor on Quake

  03-02-2016 17:25
  
  Alaska Gov. Bill Walker has lauded the efforts of Kenai Peninsula agencies in their response to the magnitude 7.1 earthquake that resulted in highway damage and the destruction of four homes. Representatives of public safety departments, utility companies and public …
  
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• Sempra’s ‘Don’t Worry’ Be Gassy View on Leak Not Going over

  03-02-2016 17:14
  
  Ever since one of its wells in California started spewing natural gas in October, Sempra Energy’s message to residents has been the same: Don’t worry – the leak poses no public safety threat and won’t cause long-term health effects. They …
  
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• Alliant Acquires Aviation Agency John F. Throne & Co. in Washington

  03-02-2016 17:07
  
  Alliant Insurance Services has acquired John F. Throne & Co., a Seattle, Wash.-based aviation insurance agency. Terms of the deal were not disclosed. John F. Throne’s leadership, client services and business development teams will remain in place. John F. Throne …
  
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• AssuredPartners Acquires Suydam Insurance Agency in New Jersey

  03-02-2016 16:35
  
  AssuredPartners Inc. announced Wednesday that it has acquired Suydam Insurance Agency in Somerset, New Jersey. Terms of the transaction were not disclosed. Suydam Insurance Agency has provided business and personal insurance coverage to clients in the greater New Jersey area …
  
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• Data Conversion Startup Captricity Gets White Mountain Insurance Backing

  03-02-2016 15:53
  
  Captricity Inc., an Oakland, Calif.-based startup that gives businesses in regulated industries easy access to customer data trapped in handwritten forms, has raised $35 million in a Series C round of financing led by White Mountains Insurance Group. The latest …
  
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• Officials Expect Zika Virus in U.S. by April; Outdoor Spraying Called Ineffective

  03-02-2016 15:31
  
  Health experts are bracing for Zika virus to spread to the United States by April or May, borne by a mosquito that craves human blood, feeds during the day and lives under beds and inside closets. Until now, the best …
  
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• Expert: Targeting High-Risk Shoppers with Mobile Makes Sense

  03-02-2016 14:54
  
  High-risk shoppers maybe one of the best segments for insurance agencies and carriers to target with online and mobile quoting and services. New data from online agency CoverHound shows high-risk shoppers are 93 percent more likely to conduct research for …
  
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• Attorney Moves to Undo GM Ignition Switch Settlement

  03-02-2016 14:54
  
  General Motors Co. has asked a judge to reject efforts by a lawyer who first publicly exposed a faulty ignition switch in GM vehicles to undo a settlement fund resolving 1,380 death and injury lawsuits. In a separate filing, the …
  
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• New York to Offer Free Zika Virus Testing for Symptomatic Travelers

  03-02-2016 14:53
  
  New York Gov. Andrew M. Cuomo announced Monday that the New York State Department of Health will offer advanced lab testing for individuals with symptoms who have traveled to areas where Zika virus infection is ongoing. The lab testing will …
  
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• How Gene Testing Becomes Motivator in Corporate Wellness Program

  03-02-2016 14:36
  
  Aprillia Jeffries is a model success story for her company’s efforts at improving the health of its staff. Jeffries, who works at Aetna, has lost 50 pounds and dropped eight dress sizes in the last two and a half years through a program …
  
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• Chubb’s Stoik Joins Great American as Senior VP

  03-02-2016 14:29
  
  Great American Insurance Group has hired Lloyd J. “Pat” Stoik as senior vice president within Great American’s Property and Casualty Group. In his new role, Stoik will assume reporting responsibilities for Great American’s Property and Inland Marine, Ocean Marine and …
  
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• Ames & Gough Promotes Maxwell to VP & Equity Partner in Boston

  03-02-2016 14:23
  
  Ames & Gough, a specialty insurance broker based in McLean, Virginia, has promoted Jared Maxwell to vice president and equity partner from assistance vice president. Maxwell is based in the firm’s Boston office. The appointment brings to 14 the number …
  
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• 2 South Jersey Businesses Accused of Workers’ Comp Fraud Scheme

  03-02-2016 14:22
  
  Authorities alleged that a recycling company in South Jersey conspired with an insurance agency to provide misleading information to a workers’ compensation carrier to obtain lower premiums on workers’ compensation insurance. New Jersey Acting Attorney General John J. Hoffman announced …
  
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• U.S. Mine Safety Rule to Curb Black Lung Goes Into Effect

  03-02-2016 14:18
  
  Underground coal mines will ramp up testing for the dust that causes breathing problems and leads to black lung disease under a new federal rule that took effect February 1. The U.S. Mine Safety and Health Administration is requiring coal …
  
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• Sandy Electric Utility Reinforcement Effort Pays Off in Blizzard

  03-02-2016 14:17
  
  Electric utilities that spent billions of dollars hardening infrastructure after Superstorm Sandy hit New York and New Jersey in 2012 say those upgrades helped keep the lights on during the Jan. 22-24 blizzard. The wind whipped and the snow piled …
  
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• 4 secrets to being exceptionally productive

  03-02-2016 14:00
  
  Being productive isn’t necessarily about doing more work in the day. But what does “working smart” really mean?
  
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• DVIC helps disabled veterans find careers in insurance

  03-02-2016 13:30
  
  When you’re recruiting for your agency, consider hiring a real American hero.
  
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• Generating leads: Do you buy or build?

  03-02-2016 13:15
  
  Whichever way you go, here are some tips for getting the best leads for your agency.
  
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• 11 tips for insurance agents on how to win business on Snapchat

  03-02-2016 13:00
  
  Now that you've mastered LinkedIn, Facebook and Twitter, here are some tips on how to use Snapchat to grow your business.
  
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• RMS Releases Cyber Accumulation Management System to Manage Exposure

  03-02-2016 10:52
  
  RMS has released its Cyber Accumulation Management System*, which includes a new software system and framework for cyber exposure reporting, in addition to a suite of cyber catastrophe scenarios for loss modeling. The RMS Cyber Accumulation Management System was developed with …
  
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• Cyber Attack on Britain’s TalkTalk Telecom Cost $115M and 101,000 Customers

  03-02-2016 10:13
  
  A cyber attack on Britain’s TalkTalk Telecom Group in October cost the company as much as 80 million pounds ($115 million) but fewer customers than feared opted to end their subscriptions. Chief Executive Dido Harding went on television and radio in the …
  
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• Ryan Specialty Completes Purchase of M&A Specialist Hunter George & Partners

  03-02-2016 10:04
  
  Ryan Specialty Group, the Chicago-based global specialty insurance services business, has completed its acquisition of Hunter George & Partners Ltd., the London-based specialist managing general agent, focused on providing insurance solutions for mergers and acquisitions. The deal, which was previously …
  
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• AXIS Capital Reports Q4 Operating Income of $120M, Level with Q4 2014

  03-02-2016 09:46
  
  AXIS Capital Holdings Ltd. reported net income available to common shareholders for the fourth quarter of 2015 of $135 million, or $1.39 per diluted common share, compared with net income of $164 million, or $1.60 per diluted common share, for …
  
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• Zurich Prepared to ‘Walk Away From Some Risks’ to Improve Performance

  03-02-2016 09:11
  
  Zurich Insurance Group AG is “prepared to shrink” some of its businesses after being caught off guard by the scale of claims it had to absorb last year, according to Cecilia Reyes, the company’s chief risk officer. “We were surprised, obviously, by the …
  
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• Schinnerer Launches Online Flood Program for Residential, Commercial Properties

  03-02-2016 06:55
  
  Victor O. Schinnerer & Company, an underwriting manager, has launched Schinnerer Flood – an online program offering primary insurance for commercial and residential properties through the National Flood Insurance Program (NFIP) as well as excess coverage through the private market. …
  
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• Freedom Industries Official Sentenced for West Virginia Chemical Spill

  03-02-2016 06:46
  
  A former environmental consultant at a chemical distributor was sentenced to three years’ probation and fined $10,000 Monday for a 2014 chemical spill that fouled the drinking water supply of 300,000 West Virginians. Robert Reynolds was the first of six …
  
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• Florida Approves 66,500 Policies from Citizens for April Take-Outs

  03-02-2016 06:32
  
  The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 65,000 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance Corp. The following two companies have been approved to participate:  Anchor Property & …
  
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• Candidates Wanted: Florida Insurance Commissioner Application Posted Online

  03-02-2016 06:00
  
  The search is on for the next Florida Insurance Commissioner – the first one to be appointed to the office since current Insurance Commissioner Kevin McCarty took office in 2003. McCarty announced on Jan. 6 he would leave office in …
  
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• Georgia Alternative School Owner Charged With 12 Counts of Insurance Fraud

  03-02-2016 05:48
  
  Georgia Insurance Commissioner Ralph Hudgens and the Roswell Police Department announced the arrest of a Fulton County woman on multiple counts of insurance fraud and other charges. Rommys Alemania Beltran, 45, of Roswell, Georgia, was arrested yesterday afternoon and charged …
  
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• Applied Client Network Names Langerman as CEO

  03-02-2016 00:28
  
  The Applied Client Network, the international association of users of Applied Systems software, has named Brian Langerman as chief executive officer. Langerman has more than 18 years of technology industry experience, including global marketing, product management and business development. Prior …
  
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• Hylant Promotes Pridgeon to President, CFO

  03-02-2016 00:26
  
  Ohio-based insurance brokerage, Hylant, has promoted Bill Pridgeon to president and chief financial officer. Pridgeon will be responsible for the overall management and direction of the operational and financial functions of the firm, which includes 14 offices and all related …
  
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• Texas Extends Reporting Period for Workers’ Comp Non-Subscriber Status

  03-02-2016 00:22
  
  The Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced a grace period for employers without workers’ compensation insurance coverage or that terminated their coverage (non-subscribers) to report their non-coverage status to DWC without penalty. This grace period also …
  
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• Cost Drops for Sinkhole Coverage Through Missouri FAIR Plan

  03-02-2016 00:17
  
  Premiums for sinkhole insurance through the Missouri Property Insurance Placement Facility, also known as the FAIR Plan, are decreasing, state insurance regulators say. The new rate structure, which is the result of an actuarial study conducted by the FAIR Plan, …
  
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