Insurance news

• Google self-driving vehicle collides with bus in Silicon Valley

  29-02-2016 22:45
  
  An autonomous vehicle being tested by Google hit a bus earlier this month, the first time the company said it’s self-driving technology is partly to blame for an accident.
  
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• Arbella Foundation gave $2.8M to New England nonprofits in 2015

  29-02-2016 21:30
  
  Arbella Insurance Group employees also donated 1,600 volunteer hours to good causes, including 152 charity walks and 61 other events.
  
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• Self-Driving Car Hits Municipal Bus in Minor California Crash, Google Says

  29-02-2016 19:56
  
  Alphabet Inc.’s Google self-driving car struck a municipal bus in a minor crash, in what may be the first case of one of its autonomous cars hitting another vehicle. In a Feb. 23 report filed with California regulators, Google said …
  
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• Google Self-Driving Car Hits Bus in California Crash

  29-02-2016 19:56
  
  Alphabet Inc.’s Google self-driving car struck a municipal bus in a minor crash, in what may be the first case of one of its autonomous cars hitting another vehicle. In a Feb. 23 report filed with California regulators, Google said …
  
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• Nevada Insurance Commissioner Approves Workers’ Comp Rate Decrease

  29-02-2016 19:03
  
  Acting Nevada Insurance Commissioner Amy L. Parks approved a filing from the National Council on Compensation Insurance for an average decrease of 5.5 percent for Nevada workers’ compensation voluntary insurance loss costs. An average decrease of 4.2 percent for workers’ …
  
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• SAN Group Hires Cassell as Regional VP for New Hampshire, Maine

  29-02-2016 18:59
  
  Satellite Agency Network (SAN) Group Inc., an alliance of independent property/casualty insurance agencies in the Northeast, has hired Jim Cassell as regional vice president for New Hampshire and Maine. In this position, Cassell is responsible for membership sales and service, …
  
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• Insurance, Specialty License Plate Bills Go Forward in Arizona

  29-02-2016 18:50
  
  Bills that would create standard designs for specialty license plates and free auto insurance companies from limits on non-renewals moved in the Arizona Legislature. Senate Bill 1101: Standard designed for specialty license plates Democratic Sen. Steve Farley of Tucson has …
  
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• Conviction in Fatal Maryland Crash Reversed on Insurance Technicality

  29-02-2016 18:43
  
  A West Virginia woman sentenced to a year in jail for a crash that killed a 5-year-old girl has had her conviction reversed because Maryland has no criminal penalty for drivers of uninsured, out-of-state vehicles. The Herald-Mail reports that Washington …
  
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• Vermont Fines Continental Indemnity for Workers’ Comp Premium Overcharges

  29-02-2016 18:36
  
  Vermont Department of Financial Regulation Commissioner Susan L. Donegan announced on Feb. 26 that Continental Indemnity Co., a subsidiary of Applied Underwriters Inc., a Berkshire Hathaway Company, has paid Vermont $335,000 and owes 16 Vermont businesses an additional $352,000. The …
  
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• Insurance Council: Ford Truck #1 Target for Auto Thieves in Texas

  29-02-2016 18:36
  
  The Ford pick-up truck is stolen more often than any other vehicle on the roadway in Texas, according to the Insurance Council of Texas. The monthly report from the Texas Department of Public Safety (DPS) lists Ford trucks, GM trucks …
  
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• Berkshire profit climbs 32%, capping record year for Buffett

  29-02-2016 18:30
  
  The insurance businesses had a fourth-quarter underwriting gain of $306 million driven by improvements at General Re and BH Reinsurance.
  
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• Higginbotham Adds Henyon as Personal Lines Associate

  29-02-2016 18:29
  
  Texas-based Higginbotham hired Bernie Henyon as associate of personal property/casualty insurance in the insurance firm’s Fort Worth headquarters. Henyon provides home, automobile and liability insurance services to high net worth individuals in the Dallas-Fort Worth Metroplex. For the past four years, …
  
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• Security Video Shows Hoverboard Catching Fire in Illinois Home

  29-02-2016 18:24
  
  A security camera inside a suburban Chicago home recorded a hoverboard catching fire shortly after a child left the house, which was extensively damaged by the blaze. Homeowner Dan Perper says the video shows his 11-year-old daughter grabbing her soccer …
  
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• Pipeline Companies Ordered to Pay $6.5 M in Damages from Oklahoma Wildfire

  29-02-2016 18:22
  
  Two pipelines companies have been ordered to pay more than $6.5 million in damages to more than 70 plaintiffs whose property was destroyed in a 2012 wildfire in Oklahoma. Court documents say a Payne County jury ordered IPS Engineering L.L.C. …
  
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• Lee Named Head of Regulation and Enforcement at Wisconsin Insurance Department

  29-02-2016 18:20
  
  Wisconsin’s Office of the Commissioner of Insurance announced that Cari Lee has been appointed as division administrator of Regulation and Enforcement. Lee supervises both the Bureau of Market Regulation and the Bureau of Financial Analysis and Examinations. Prior to her …
  
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• Michigan Insurance Regulators: Consumer Complaints on the Rise

  29-02-2016 18:17
  
  Michigan’s insurance and financial services regulators say the number of consumer complaints is on the rise and that more than 7,400 consumers were assisted during January alone. The Department of Insurance and Financial Services reported that in January of this …
  
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• Rhode Island Lawmakers Eye Driver’s Licenses for Undocumented Immigrants

  29-02-2016 18:05
  
  Lawmakers in Rhode Island are making another attempt to grant driving privileges to immigrants who are in the country illegally. Similar legislation stalled last year but state Sen. Frank Ciccone, a Providence Democrat, said he hopes to build on the …
  
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• Software Provider Vertafore Acquires Canada’s Keal Technology

  29-02-2016 18:02
  
  Vertafore, the Bothell, Wash.-based insurance software provider, announced the acquisition of Keal Technology, a leading provider of broker and commercial management systems in Canada. The move extends Vertafore’s customer base into Canada, further enhancing its international footprint, the company said …
  
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• Cal Fire Files Lawsuit Against Utility For Cost of Powerhouse Fire

  29-02-2016 17:36
  
  A state agency is suing the Los Angeles Department of Water and Power to recover the more than $4 million cost in fighting a wildfire sparked by power lines three years ago. The California Department of Forestry and Fire Protection …
  
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• Chubb Appoints Marine Insurance Executive Team for Asia Pacific Region

  29-02-2016 17:15
  
  Chubb has appointed for the Asia Pacific region Christine Aldrich as its marine cargo underwriting manager and Callum Clark as marine hull underwriting manager. Both Aldrich and Clark will report to Anthony O’Brien, regional head of marine for Asia Pacific. Aldrich was previously marine underwriting manager for Australia and New …
  
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• Best Revises Issuer Credit Rating Outlook for W. R. Berkley Insurance (Europe)

  29-02-2016 17:03
  
  A.M. Best has revised the issuer credit rating (ICR) outlook to negative from stable and affirmed the financial strength rating of A (Excellent) and the ICR of “a+” of W. R. Berkley Insurance (Europe) Ltd. (WRBIEL). The outlook for the …
  
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• MassMutual Agrees to Buy MetLife Retail Adviser Network for $300M

  29-02-2016 16:49
  
  Massachusetts Mutual Life Insurance Co. agreed to buy MetLife Inc.’s adviser-force business and affiliated broker-dealer for about $300 million. Massachusetts Mutual Life Insurance Co. has agreed to buy MetLife Inc.’s adviser-force business and affiliated broker-dealer. According to documents filed with …
  
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• G20 Puts ‘Brexit’ on List of Top Global Risks After Push by UK Government

  29-02-2016 14:00
  
  British finance minister George Osborne pushed financial leaders from the top 20 economies to include the risk of Britain leaving the European Union in their list of dangers to the world economy on Saturday, gaining explicit support from the United …
  
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• 5 secrets to activating the laws of attraction

  29-02-2016 14:00
  
  In order to unleash the full power of the Law of Attraction and make your dreams come true, there’s one key ingredient you absolutely must have.
  
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• 3 ways to cut the cost of your Workers' Comp insurance

  29-02-2016 13:45
  
  Here are some insider tips to make sure you aren't paying any more than you need.
  
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• Verisk CEO: Here's what it takes to encourage innovation

  29-02-2016 13:30
  
  Recently ranking No. 18 on Forbes' list of the "World's Most Innovative Companies," Verisk Analytics encourages its employees to push boundaries and ideas. CEO Scott Stephenson tells PC360 just how the company created such an environment.
  
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• XL Group Proposes Moving Domicile to Bermuda from Ireland

  29-02-2016 13:29
  
  XL Group plc announced a proposal to change its parent holding company’s place of incorporation to Bermuda from Ireland. “Establishing our corporate home in Bermuda is a natural step for XL. XL has had a presence in Bermuda since 1986, …
  
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• Insuring the shared economy in a connected world

  29-02-2016 13:15
  
  We should be able to do better and create truly new insurance coverages for the shared economy. It's not going to be easy, but customers will count on our industry to develop solutions to protect their shared assets.*Runs Feb. 29*
  
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• 10 least expensive 2016 model year vehicles to insure

  29-02-2016 13:00
  
  Minivans, SUVs and a pickup truck top the list of least expensive 2016 models to insure.
  
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• Hamilton Re Hires Davis to Lead Entry into Property Direct & Facultative

  29-02-2016 08:55
  
  Hamilton Re, the reinsurance operations of Hamilton Insurance Group, announced that Gavin Davis has joined the Bermuda-based company as senior vice president, head of Property Insurance, Bermuda. Davis will be instrumental in leading the ongoing diversification of Hamilton Re’s portfolio …
  
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• DUAL Commercial Launches New Online Cyber Program

  29-02-2016 07:11
  
  DUAL Commercial, LLC has developed DUAL CyberSecurity, a new cyber program to be led by Phil Hoyt, director of Cyber Insurance. DUAL CyberSecurity provides coverage in conjunction with DUAL Commercial’s programs, as well as on a stand alone basis. DUAL’s …
  
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• Breckenridge Insurance Forms New Company for Transactional Liability Market

  29-02-2016 06:56
  
  Breckenridge Insurance Group has formed Vista Insurance Advisors, a new company for the transactional and mergers & acquisitions market offering various coverage options. Vista Insurance Advisors is led by Chief Executive Officer Thomas Dowd based in New York. Dowd has …
  
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• Buffett Says Pessimism on Economy and America Is ‘Dead Wrong’

  29-02-2016 04:20
  
  Warren Buffett reaches a broad audience with his annual letters to Berkshire Hathaway Inc. shareholders — and, on Saturday, he reached right out to U.S. voters. In sweeping passages, he rejected the economic pessimism dominating the 2016 U.S. presidential campaign …
  
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• State Farm Reports Investments Overcame Underwriting Loss in 2015

  29-02-2016 04:00
  
  State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to $6.2 billion from $4.2 billion in 2014, the Bloomington, Illinois-based company said …
  
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• Presidential Hopeful Trump Vows to Make It Easier to Sue Media

  29-02-2016 03:44
  
  Donald Trump said Friday he will weaken First Amendment protections for reporters as president, making it easier for him to sue them. The celebrity businessman turned Republican presidential front-runner said he wants to “open up” libel laws at a rally …
  
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• Does Your Business Need Cyber Insurance?

  29-02-2016 01:00
  Cyber attacks are here to stay, and companies large and small stand to lose a lot of money if not properly insured against wrongdoing. Whether it’s internal or an attack from outside, tech breaches pose a very real threat and you need to be prepa...
  
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• E-Cigarette Explosion Injures Florida Woman, Destroys Car

  29-02-2016 00:19
  
  A Florida woman says an e-cigarette exploded as she took a puff, knocking her teeth loose and catching her rental car on fire. Cassandra Koziol told the Naples Daily News she had parked her car outside a friend’s house Feb. …
  
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• Citizens: $4.2M in Florida Customer Premiums Recovered in 2015

  29-02-2016 00:07
  
  Citizens Property Insurance Corp. reports that it recovered more than $4.2 million in customer premiums in 2015 by aggressively pursuing third parties responsible for losses and salvaging property involved in a claim, the company said in a statement. Citizens said …
  
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