Insurance news

• Top 25 P/C Insurance Carriers, Groups by Line of Insurance: NAIC

  01-03-2016 20:52
  
  The National Association of Insurance Commissioners (NAIC) has published market share data indicating the degree of market concentration in property/casualty insurance. The 2015 market share data for property/casualty insurers include countrywide direct written premium for the top 25 groups and …
  
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• Victorville man found shot dead inside Ontario insurance office - Inland Valley Daily Bulletin

  01-03-2016 19:30 via
  Inland Valley Daily Bulletin
  Victorville man found shot dead inside Ontario insurance office
  Inland Valley Daily Bulletin
  ONTARIO >> A 51-year-old Victorville man was found fatally shot inside a Farmers Insurance office Monday morning and Ontario police are investigating the incident, officials said. Guillermo Luis Calvillo was found around 9:30 a.m. inside the office at ...
  One dead after shooting at Farmers Insurance office in OntarioLos Angeles Timesall 5 news articles »
  

• 5 New Jerseyans Charged With Filing False Applications for Sandy Funds

  01-03-2016 18:47
  
  Five people are charged in New Jersey with filing false applications for Superstorm Sandy relief funds. Prosecutors allege the suspects, in most cases, sought money from the Federal Emergency Management Agency. In many cases, prosecutors say they also applied for …
  
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• Michigan’s Accident Fund Holdings Rebranding as AF Group

  01-03-2016 18:43
  
  Accident Fund Holdings Inc., based in Lansing, Mich., announced it is rebranding as AF Group. The company said the transition reflects the organization’s unified, collective strength while positioning it for future growth and diversification. Founded in 1912 as a Michigan accident …
  
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• Delaware Regulators Recovered $1.9M for Policyholders in 2015

  01-03-2016 18:43
  
  The Delaware Department of Insurance said the department last year recovered more than $1.9 million for policyholders, and helped business owners save nearly $9.3 million in workers’ compensation insurance costs. The department returned over $1.9 to consumers in two ways. …
  
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• Munich Re’s American Modern names Kleiner CEO, replacing Rios

  01-03-2016 18:42
  
  Munich Re named Andreas Kleiner to lead American Modern Insurance Group, the U.S. unit that is reshaping its business mix after the departure of its previous chief executive officer.
  
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• Ohio-Based American Modern Insurance Taps Kleiner for CEO

  01-03-2016 18:33
  
  Andreas Kleiner has been named president and chief executive officer of American Modern Insurance Group, a subsidiary of Munich Re, effective May 1. He succeeds Manny Rios, who left the position in August. Kleiner has served as a member of …
  
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• Marsh & McLennan Acquires Missouri-Based Aviation Solutions

  01-03-2016 18:31
  
  Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, announced it has acquired Aviation Solutions LLC, an aviation risk advisor and insurance broker based in Lee’s Summit, Mo. Terms of the transaction were not disclosed. Founded …
  
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• Cheapest Car Insurance in New Jersey - NerdWallet (blog)

  01-03-2016 18:31 via
  Cheapest Car Insurance in New Jersey
  NerdWallet (blog)
  If you're looking for cheap auto insurance in New Jersey, you may know that it is hard to find. With its high population density and crowded highways, New Jersey has insurance rates that tend to be significantly higher than the national average. To ...and more »
  

• Florida State Appoints MarketScout’s Kerr to College of Business Insurance Council

  01-03-2016 18:25
  
  Richard Kerr, founder and chief executive officer of MarketScout, the national electronic insurance exchange and specialty MGA, has been elected to the Risk Management and Insurance Executive Council of the Florida State University College of Business. The Risk Management and …
  
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• Jury Finds 2 N.Y. Stockbrokers Liable in IBM Insider Trading Trial

  01-03-2016 18:23
  
  A federal jury on Monday found two former New York stockbrokers liable for trading on confidential tips about an IBM Corp acquisition, despite a major appeals court ruling that made insider trading cases harder to pursue. In a victory for …
  
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• Louisiana’s New Auto Insurance Monitoring System Now in Effect

  01-03-2016 18:00
  
  A new real-time auto insurance monitoring system is now being used in some parts of Louisiana to help police enforce the requirement that drivers are up to date on paying their premiums. The American Press reports the new monitoring system …
  
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• Ironshore Establishes Private Client Group, Launches Coverage in Select States

  01-03-2016 18:00
  
    Ironshore Inc. has established a dedicated Private Client Group to introduce its new insurance plan, the Ironshore Private Insurance Portfolio. Ironshore’s personal lines policy will be available for high net worth homeowners with properties valued in excess of $1 million. …
  
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• 2015 a Record-Setting Year for Tornadoes in Texas

  01-03-2016 17:58
  
  Texas recorded 244 tornadoes last year making it the highest number of twisters to ever touch down in the Lone Star State since the record keeping began in 1950. The tornadoes claimed 17 lives. The violent weather was responsible for …
  
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• Supreme Court Blocks States from Collecting Self-Insurers’ Health Cost Data

  01-03-2016 17:57
  
  The U.S. Supreme Court on Tuesday ruled that Vermont cannot compel health insurers to hand over data on the amount paid on medical claims, backing Liberty Mutual Insurance Co.’s contention that federal law prohibited such requirements. The court, in a …
  
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• Google Takes Partial Blame After Self-Driving Car Hit Bus

  01-03-2016 17:10
  
  Alphabet Inc.’s Google said on Monday it bears “some responsibility” after one of its self-driving cars struck a municipal bus in a minor crash earlier this month. The crash may be the first case of one of its autonomous cars …
  
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• CNA Promotes Rhodes to Baltimore Branch VP

  01-03-2016 16:10
  
  CNA has promoted Tony Rhodes to vice president of its Baltimore, Maryland, branch. In this role, Rhodes will be responsible for leading the Baltimore branch to achieve its goals for continued growth and profitability through producer relationships. Rhodes has been …
  
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• P/C Insurers’ Faith in Predictive Modeling Continues to Grow

  01-03-2016 15:13
  
  Property /casualty insurance executives believe that over the past six years predictive modeling has become an essential or very important driver of improved performance and they are broadening their use of the application into new areas of operation, according to …
  
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• AIG, Coventry Settle Life Settlements Case

  01-03-2016 14:49
  
  American International Group Inc. said on Monday that it had reached a settlement resolving a $2 billion lawsuit accusing a Philadelphia-area firm overcharging it for life insurance policies acquired from elderly people. The settlement between AIG’s Lavastone Capital LLC unit …
  
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• Iran Oil Shipping Insurance Issues Will Take 2-3 Months to Resolve: Tanker Firm

  01-03-2016 13:54
  
  Frontline, one of the world’s largest independent tanker firms, says securing insurance for cargoes carrying oil from Iran is likely to take another two to three months, potentially limiting Iran’s ability to quickly ramp up oil exports. Iran has been seeking to …
  
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• 6 ways to handle rejection

  01-03-2016 13:45
  
  Are you interpreting your client’s “no” as their final answer? That’s your first mistake.
  
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• ANV Increases Lloyd’s Underwriting Capacity for M&A Cover

  01-03-2016 13:40
  
  ANV Global Services Ltd., the managing general underwriter (MGU) segment of specialty insurance group ANV Holdings, announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions insurance. The increased line offers a limit of €30 million ($32.7 million) …
  
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• Cyber attacks a growing concern around the world

  01-03-2016 13:30
  
  U.S. business leaders are awakening to the nightmarish reality of data breaches.
  
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• 3 ways insurers can better market to women

  01-03-2016 13:15
  
  By 2030, an estimated $569 billion to $874 billion will be put into the insurance industry — just by women.
  
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• 12 keys to rein in bodily injury severities

  01-03-2016 13:00
  
  Focusing on the facts can keep a claim out of the courtroom and the expenses in check.
  
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• 12 keys to reigning in bodily injury severities

  01-03-2016 13:00
  
  Focusing on the facts can keep a claim out of the courtroom and the expenses in check.
  
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• Studies Weigh How Human Behaviors Affect Self-Driving Cars

  01-03-2016 11:00
  
  How much people trust technology and what type of driving alerts they respond to may have as much or more to do with the success of autonomous vehicles than technological, legal and security concerns, according to two new studies. The …
  
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• Do You Really Need Rental Car Insurance? 8 Things to Know - New York Times

  01-03-2016 11:00 via
  Do You Really Need Rental Car Insurance? 8 Things to Know
  New York Times
  With every car rental transaction comes the slightly uncomfortable moment when the agent behind the counter tries to foist the company's insurance on you. When this happened to me at Hertz at the Hilo International Airport in Hawaii a few weeks ago, I ...and more »
  

• Class Action Filed Against Royal Caribbean Over Storm-Tossed Cruise

  01-03-2016 11:00
  
  A passenger from a cruise ship that was battered by a major storm in the Atlantic Ocean filed a proposed class-action lawsuit against Royal Caribbean in Miami federal court, his lawyer said Thursday. The lawsuit filed by attorney Michael Winkleman …
  
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• ‘Brexit’ Could Hurt Investments, Cause Regulatory Uncertainty: UK’s Direct Line

  01-03-2016 10:17
  
  A British exit from the European Union could hurt UK insurer Direct Line’s investment portfolio and cause regulatory uncertainty, it said on Tuesday after posting a 3 percent rise in 2015 operating profit. Britain will hold a referendum on EU …
  
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• U.S. Regulator Treads Lightly on Railroads Over Hazmat Violations: Report

  01-03-2016 10:00
  
  Federal regulators are failing to refer serious safety violations involving freight rail shipments of crude oil and other hazardous cargo for criminal prosecution, and are going lightly on civil fines, according to a report released last week by a government …
  
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• More Than 40% of Insurers See Google as Potential Threat: Capgemini Report

  01-03-2016 09:56
  
  More than 40 percent of insurers see Google as a potential threat because of its strong brand and ability to use customer data, a report released on Tuesday said. And young, mobile phone-friendly consumers may bypass traditional insurers for “new, …
  
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• Zurich Insurance Appoints Marguin as Chief Underwriting Officer, Asia Pacific

  01-03-2016 09:25
  
  Zurich Insurance has appointed Hervé Marguin as chief underwriting officer (CUO), General Insurance, Asia Pacific, effective immediately. Marguin will report to Stuart A. Spencer, chief executive officer, General Insurance, Asia Pacific, and Alan Fairhead, CUO, General Insurance, Zurich Insurance Group. …
  
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• 5 Governments Write to China, Expressing Concern over New & Draft Laws

  01-03-2016 08:46
  
  The United States, Canada, Germany, Japan and the European Union have written to China to express concern over three new or planned laws, including one on counterterrorism, in a rare joint bid to pressure Beijing into taking their objections seriously. …
  
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• North Carolina Sees Dramatic Increase in Fatal Drug Overdoses

  01-03-2016 07:46
  
  Officials say fatal drug overdoses in North Carolina have jumped from 2002 to 2014. The Charlotte Observer reports federal data shows that overdoses killed as many as 16 people per 100,000 residents in the state in 2014 compared to about …
  
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• Georgia Reports $7M in Claims Settlements Returned to Consumers in 2015

  01-03-2016 07:33
  
  Georgia Insurance Commissioner Ralph Hudgens announced that in 2015 his office mediated thousands of claims disputes between Georgians and insurance companies, resulting in more than $7 million in claim settlements favorable to the consumer. Last year the Georgia Department of …
  
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• Wildfire Claims and Coverage Questions

  01-03-2016 06:00
  
  In 2015, more than 9 million acres were burned in the United States as a result of wildfires. The National Interagency Fire Center reports that significant fire potential was normal across most of the United States for the first few months of 2016.
  
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• Wheel Detachment: Improper Spindle Nut Installation

  01-03-2016 06:00
  Determining the cause of an automobile accident is often encountered by the claims analyst.
  
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• What will Flood insurance look like after 2017?

  01-03-2016 06:00
  
  Legislators appear eager to get to work on extending and reforming the National Flood Insurance Program, which expires in 2017. The P&C industry is prepared and willing to get involved, but can it work?
  
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• What Makes a Great CAT Adjuster?

  01-03-2016 06:00
  
  What does it take to be a great catastrophe adjuster? It can be summed up in three words: compassion, ability and training, or CAT for short.
  
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• The Future of Flood

  01-03-2016 06:00
  
  Legislators appear eager to get to work on extending and reforming the National Flood Insurance Program, which expires in 2017. The P&C industry is prepared and willing to get involved, but can it work?
  
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• The art of closing: 3 different tactics to help you seal the deal

  01-03-2016 06:00
  
  Every agent has their own style in closing sales, and no individual technique is best. But there are three types of closing tactics that can be used very effectively if executed properly.
  
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• The Architect: Aspen Insurance CEO Mario Vitale

  01-03-2016 06:00
  
  Aspen Insurance CEO Mario Vitale continues a career spent reversing the fortunes of insurers smart enough to hand him the reins.
  
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• Profiling insurance pros under 40: Shyla Lankford

  01-03-2016 06:00
  
  Meet the vice president of operations at the Dallas-based Lipscomb & Associates, who describes how beating cancer re-invigorated her career.
  
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• P&C insurers’ profits up for first nine months of 2015

  01-03-2016 06:00
  
  Private U.S. property and casualty insurers’ net income after taxes grew to $44 billion in the first nine months of 2015, from $37.8 billion in the same period in 2014, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus growing to 8.8 percent from...
  
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• Mergers & Acquisitions ReachRecord High in 2015

  01-03-2016 06:00
  
  Insurance agency mergers and acquisitions hit a record high of 451 reported transactions for the U.S. and Canada in 2015, surpassing the previous record of 357 in 2014, according to a recent report from OPTIS Partners.
  
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• Mergers & Acquisitions Reach Record High in 2015

  01-03-2016 06:00
  
  Insurance agency mergers and acquisitions hit a record high of 451 reported transactions for the U.S. and Canada in 2015, surpassing the previous record of 357 in 2014, according to a recent report from OPTIS Partners.
  
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• Malpractice Prevention for Adjusters — Part 3

  01-03-2016 06:00
  
  Woe to the procrastinator. The wages of sin may be death, but the wages of procrastination are long lines. For adjusters, procrastination is a hazard.
  
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• Let's Get Social

  01-03-2016 06:00
  
  Marketing is the key to finding and nurturing qualified prospects to maximize your sales pipeline. However, when insurance agents use social platforms, they typically overlook a specific tool that can identify and engage highly qualified prospects.
  
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• Is Your Business Prepared?

  01-03-2016 06:00
  
  Whether it is the loss of property, a disruption to supply chains or the breach of sensitive data, natural and man-made disasters can have profound and significant impacts on a business, potentially leading to the long-term loss of income or even permanent closure.
  
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