Insurance news

• Donegal Group Reports $7.7M Q4 Net Income

  22-02-2016 23:02
  
  Donegal Group Inc. reported $7.76 million in net income for the 2015 fourth quarter, up 73 percent from $4.49 million during the same period in 2014. The full-year 2015 net income jumped to $26.77 million, an 84 percent increase from …
  
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• Greenlight Re posts fourth-straight loss on Einhorn slump

  22-02-2016 22:53
  
  Greenlight Capital Re Ltd. posted its fourth-straight quarterly loss, capping the reinsurer’s worst year since its 2007 initial public offering.
  
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• Most U.S. flooding linked to climate change

  22-02-2016 21:54
  
  U.S. coastal cities are flooding more often, and we have no one to blame but ourselves.
  
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• Honda readies recall of new Civics on possible engine failure

  22-02-2016 19:48
  
  Honda is preparing a recall for the 2016 Civic compact in the U.S. and has ordered dealers to stop selling some versions of the car.
  
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• Takata may face recall of 90 million more air bags, Reuters says

  22-02-2016 19:32
  
  U.S. auto safety regulators are determining whether 70 million to 90 million more Takata Corp. air-bag inflators should be recalled.
  
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• Hub Hires Albert as Security Risk Management Specialist in New York

  22-02-2016 18:58
  
  Hub International Limited has hired Ross Albert as assistant vice president of Organizational Resilience and security risk management specialist for the Risk Services division. In this role, Albert will be responsible for establishing intelligence-led risk management programs for the firm’s …
  
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• Vermont Republicans Call for Review of State’s Health Exchange

  22-02-2016 18:50
  
  Vermont Lt. Gov. Phil Scott and the state’s legislative Republican leaders are calling for an independent assessment of the Vermont Health Connect state insurance exchange, with an eye toward possibly closing it and shifting to the federal exchange or some …
  
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• Safety National Forms Safety Specialty Insurance Company

  22-02-2016 18:47
  
  Safety National Casualty Corporation has acquired an excess and surplus company that will begin operations in March 2016 as Safety Specialty Insurance Company (SSIC). Safety Specialty will initially focus on complementing Safety National’s public entity multi-line program, which includes general …
  
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• Feds Want Circus Operator Fined for Fatal Tent Collapse in N.H.

  22-02-2016 18:37
  
  Federal safety officials have proposed more than $33,000 in fines against a Florida-based circus operator for a tent collapse that killed two people and injured dozens in New Hampshire. Robert Young, 41, and his 6-year-old daughter, Annabelle, died Aug. 3 …
  
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• Fiji cyclone death toll reaches 20 after storm smashes villages

  22-02-2016 18:34
  
  The death toll from the strongest tropical cyclone ever to hit Fiji climbed to at least 20 as aerial surveillance of affected areas showed entire villages were obliterated.
  
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• N.H. Group Gets Update on Substance Abuse Treatment Coverage

  22-02-2016 18:26
  
  An initial review of whether health insurance companies are appropriately covering substance abuse treatment in New Hampshire shows significant differences in how often claims are denied, but experts identified problems with only a handful of cases. The probe comes as …
  
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• What makes your agency different from the competition?

  22-02-2016 18:15
  
  If you need the lowest price to sell something, you're not a salesperson.
  
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• VW may be forced to clean the air its diesel cars polluted

  22-02-2016 18:12
  
  Volkswagen may have to do more than fix half-a-million cars implicated in an emissions-cheating scandal: It also could be forced to undo the environmental damage.
  
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• Louisiana Court Rules Flood Board Can Hire Outside Lawyers for Oil Suit

  22-02-2016 17:40
  
  A south Louisiana flood board has won a legal round in its fight against oil and gas companies over coastal wetland damage. A state appeal court ruled last week that the Southeast Louisiana Flood Protection Authority-East legally hired a team …
  
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• Disaster Recovery Center Opens in Arkansas County

  22-02-2016 17:38
  
  A joint federal/state disaster recovery center opened in Jefferson County Feb. 20 to help those whose homes or businesses were affected by severe storms, tornadoes, straight-line winds and flooding in December and January, Representatives from the Arkansas Department of Emergency …
  
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• Construction on Public Safe Rooms Around Joplin Nearly Complete

  22-02-2016 17:36
  
  Thousands of students and residents in the Joplin area will have shelter during the upcoming severe weather season thanks to the construction of safe rooms that began after the deadly May 2011 tornado. The Joplin Globe reported ocal school districts …
  
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• Lumber Liquidators flooring has higher cancer risk, CDC says

  22-02-2016 17:35
  
  Lumber Liquidators flooring, tested for formaldehyde, was found to have a three times higher risk of causing cancer than previously stated.
  
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• Medication Errors at Minnesota Hospitals Resulted in 4 Deaths Last Year

  22-02-2016 17:31
  
  A new report shows that despite improvements in how medicine is dispensed at Minnesota hospitals, the risk of injury or death from errors still exists. Hospitals have disclosed four deaths and 10 serious injuries related to medication errors in a …
  
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• Low Odds of Serious Flooding Throughout North Dakota

  22-02-2016 17:29
  
  The National Weather Service says that the threat of substantial spring flooding in North Dakota is low, including along a river in the eastern part of the state that has caused millions of dollars of damage in the last decade. …
  
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• Michigan’s Inadvertent Tax Break for Car Insurers Targeted for Repeal

  22-02-2016 17:26
  
  Gov. Rick Snyder and lawmakers inadvertently gave auto insurers a tax break worth $80 million a year. Now, they want to end it _ either to bail out Detroit’s state-managed school district or to address other priorities at a time …
  
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• Arizona House Passes Accelerated Insurance Company Tax Cut

  22-02-2016 17:23
  
  The Republican-controlled Arizona House has passed a bill accelerating the phase-in of insurance company tax cuts they passed last year. House Bill 2002 is sponsored by House Republican Majority Whip David Livingston. He also sponsored the bill signed by Gov. …
  
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• New Mexico’s High Court Will Hear Workers’ Comp Case

  22-02-2016 17:18
  
  The New Mexico Supreme Court plans to review a lower court ruling that cleared the way for farm and ranch laborers across the state to receive workers’ compensation benefits. The justices issued a brief order suspending a ruling by the …
  
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• Who's using what in the P&C insurance industry: Feb. 22, 2016

  22-02-2016 16:00
  
  News from ISCS, Guidewire and IDT911.
  
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• State Auto Says Corrections Underway After Disappointing 2015

  22-02-2016 15:22
  
  State Auto Financial Corp. ended 2015 with a steep drop in net income and a combined ratio that landed well above 100. Executives blamed a bad year for the insurer’s auto lines but added that they’ve taken corrective steps. Net …
  
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• Revised CDC Report Claims Higher Cancer Risk for Lumber Liquidators’ Flooring

  22-02-2016 14:56
  
  Lumber Liquidators Holdings Inc. flooring, tested for formaldehyde, was found to have a three times higher risk of causing cancer than previously stated, U.S. regulators said in reversing their own finding from earlier this month. A report released Feb. 10 used …
  
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• How to build a LinkedIn profile that sells

  22-02-2016 14:00
  
  If your target insurance market includes businesses, then you should be leveraging LinkedIn as an integral aspect of your insurance marketing plan.
  
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• Hiscox Launches E-Trading System for U.K. Commercial Brokers

  22-02-2016 13:46
  
  After a successful pilot, Hiscox has launched Hiscox Trader, a new e-trading solution for U.K. commercial insurance brokers in partnership with insurance technology specialists Open GI London. The new cloud-based technology enables brokers to give their customers an indication of …
  
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• Climbing for leadership: A Q&A with Everest explorer Alison Levine

  22-02-2016 13:30
  
  To help motivate their teams, leaders should join them on the front line.
  
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• Don't run your claims management on autopilot

  22-02-2016 13:15
  
  Brokers and third-party administrators provide valuable service, but they aren't affected by the financial outcome like an insurance company is.
  
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• 6 steps to take to evaluate cyber risk

  22-02-2016 13:00
  
  What you need to consider in insurance coverage and preparing for an incident response.
  
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• British Corporate Leaders Will Likely Vote to Remain in EU: UK Business Groups

  22-02-2016 12:50
  
  British corporate leaders will likely vote for the U.K. to remain a part of the European Union, according to lobby groups for business, manufacturing and financial services. The Institute of Directors said the deal reached by Prime Minister David Cameron …
  
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• Startup Zenefits Shows How Hard Hitting Revenue Targets Can Be

  22-02-2016 12:43
  
  Zenefits probably couldn’t have predicted it would spend the first two weeks of February dealing with the resignation of its founding chief executive officer under pressure from the board and the loss of its biggest customer—all while facing investigations by authorities …
  
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• Everest Appoints Downey as Deputy Chief Underwriting Officer

  22-02-2016 12:35
  
  Bermuda-based Everest Re Group Ltd. announced that Christopher Downey has been named deputy chief underwriting officer. Downey joins Everest from Montpelier Reinsurance Ltd. where he served as senior vice president and head of their Global Casualty & Specialty Treaty unit. …
  
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• Risk Accumulation Aggravated Zurich’s Tianjin Port Explosion Losses: Chairman

  22-02-2016 10:31
  
  Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom de Swaan said. “There was accumulation of risk there, which …
  
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• North Carolina Insurance Agent Charged with Embezzlement

  22-02-2016 10:10
  
  North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Jacob Christopher Mullins, 28, of Fremont; he is charged with one count each of embezzlement by an insurance agent, financial card fraud and obtaining property by false pretense. Department of …
  
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• North Carolina Insurance Agent Charge with Embezzlement

  22-02-2016 10:10
  
  North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Jacob Christopher Mullins, 28, of Fremont; he is charged with one count each of embezzlement by an insurance agent, financial card fraud and obtaining property by false pretense. Department of …
  
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• Fiji’s Strongest-Ever Cyclone Flattens Entire Villages; Death Toll Rises

  22-02-2016 10:09
  
  The death toll from the strongest tropical cyclone ever to hit Fiji climbed to at least 20 as aerial surveillance of affected areas showed entire villages were obliterated as the Category-5 storm roared across the South Pacific nation at the weekend. A …
  
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• NORCAL Mutual to Expand Med Mal Coverage to 5 Additional States

  22-02-2016 10:00
  
  NORCAL Mutual Insurance Company, a nationwide medical professional liability insurance companies, will begin offering coverage this month to physicians in Florida, Georgia, Oklahoma and South Carolina. NORCAL will begin offering coverage in Indiana beginning in March. These five states are …
  
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• Nashville Police Remind Citizens Not to Help Thieves Steal Cars

  22-02-2016 10:00
  
  Nashville Police say some citizens are unwittingly helping car thieves steal their vehicles. Police say a review of reports of vehicles stolen from the week of Jan. 31 to Feb. 6 showed that 68 percent of the automobiles were easy …
  
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• Mid-Month Storms Caused 4 Twisters in Alabama

  22-02-2016 10:00
  
  The National Weather Service says four tornadoes touched down throughout south Alabama when severe storms hit the state Feb. 16. Officials say damage surveys after the storms showed that tornadoes ranging between EF0 and EF1 in strength touched down in …
  
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• Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P

  22-02-2016 09:46
  
  Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services, despite the many competitive pressures it …
  
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• Gig Economy Now 6.5% of U.S. Workforce; Provides Extra Income for 10 Million

  22-02-2016 08:00
  
  It’s a job market revolution: an estimated 10.3 million Americans earned income through web-based platforms like Uber and Airbnb between 2012 and 2015. That’s more people than reside in the entire state of Georgia and amounts to 6.5 percent of the total …
  
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• USI Insurance Services Acquires Florida-Based Best Insurance

  22-02-2016 06:43
  
  USI Insurance Services has acquired Best Insurance, located in Tamarac, Fla. Best Insurance offers a range of personal insurance products, including homeowners, automobile, motorcycle, boat and watercraft, to customers in Florida, Georgia, North Carolina and South Carolina. Terms of the …
  
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