Insurance news

• Florida Assignment of Benefits, Ridesharing Bills Approaching Dead End

  08-03-2016 23:21
  
  It’s looking like Florida lawmakers will not provide resolution for two controversial issues currently facing the Florida insurance industry, this year at least. With just three days left in the 2016 Florida Session, legislative attempts at addressing the rising cost …
  
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• Sleep apnea tests for truckers, train operators explored by U.S.

  08-03-2016 21:57
  
  The U.S. is taking the first step toward requiring that commercial drivers and railroad workers be tested for a sleep disorder that causes drowsiness and has been linked to fatal wrecks.
  
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• Contiguous U.S. had warmest winter on record, NOAA reports

  08-03-2016 20:13
  The average temperature across the lower 48 states was 36.8 degrees Fahrenheit — 4 degrees higher than the 20th-century average — breaking the mark set in 1999-2000.
  
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• Vertafore presents awards at NetVU16 conference

  08-03-2016 19:30
  
  Marshall & Sterling, Nationwide and Risk Strategies Co. get awards from insurance software company at event in San Antonio.
  
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• Below Average Chance of Spring Floods in Maine This Year

  08-03-2016 18:59
  
  The Maine River Flow Advisory Commission says there is a below average chance of flooding this spring in most of the state, with the exception of the northern reaches. The commission says the chance of flooding in northern Maine is …
  
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• Brown & Milliken Agency, Holmes Agency Announce Merger in Maine

  08-03-2016 18:58
  
  The Brown & Milliken Agency and the Holmes Agency, two independent insurance agencies based in Ellsworth, Maine, announced that their firms have merged as of March 1. Terms of the transaction were not disclosed. The Brown & Milliken Agency has …
  
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• Earthquake Response/Wastewater Reduction Plan for Central Oklahoma Unveiled

  08-03-2016 18:45
  
  The Oklahoma Corporation Commission’s (OCC) Oil and Gas Conservation Division (OGCD), in response to the risk of triggered earthquakes, announced actions to further reduce the amount of oil and gas wastewater injected by Arbuckle disposal wells in earthquake areas and …
  
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• Gunson Appointed VP, Auto and Liability Claim at CNA

  08-03-2016 18:36
  
  Chicago-based CNA appointed Jim Gunson as vice president, Auto and Liability Claim. He will report to Andy Pinkes, executive vice president, Worldwide P&C Claim. Gunson joins CNA with nearly two decades of executive level insurance and legal experience, most recently serving …
  
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• Oklahoma Farm Bureau Mutual Insurance Co., Subsidiary Upgraded

  08-03-2016 18:32
  
  A.M. Best has upgraded the financial strength rating to B (Fair) from B- (Fair) and the issuer credit rating to “bb+” from “bb-” for the members of the Oklahoma Farm Bureau Group: Oklahoma Farm Bureau Mutual Insurance Co. and its wholly owned subsidiary, AgSecurity Insurance …
  
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• OSHA Cites Biofuel Company over Louisiana Hydrogen Gas Explosion

  08-03-2016 18:29
  
  The U.S. Occupational Safety and Health Administration has fined a Geismar, La., biodiesel plant $70,000 and has cited a biofuels company over a September hydrogen gas explosion. The Advocate reports that OSHA also cited Renewable Energy Group, an Iowa-based biofuels …
  
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• Life Insurer Pledges $25M in Low-Cost Loans for Flint Lead Pipe Removal

  08-03-2016 18:27
  
  The mayor of Flint, Mich., says Union Labor Life Insurance Co. has committed to bring $25 million in low-cost loans to help remove lead pipes and improve water quality. Karen Weaver announced the funding on March 6, saying in a …
  
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• That private eye at your door may just want you to fix your car

  08-03-2016 18:26
  
  Automakers, facing stiff fines for lackluster recall completion rates, are going to new lengths to reach owners of the millions of cars with known safety defects that remain on the road.
  
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• Report: JobsOhio Created 23.6K Jobs in 2015

  08-03-2016 18:23
  
  A privatized Ohio economic-development agency says in its annual report that it’s created a record 23,602 jobs last year. The Columbus Dispatch reports that JobsOhio also attracted $6.7 billion in corporate investment last year, increasing the agency’s percentage of both …
  
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• Risk Strategies Acquires Lester Brokerage in New Jersey

  08-03-2016 18:21
  
  Risk Strategies Company, a privately held, national insurance brokerage and risk management firm based in Boston, announced that it has acquired Lester Brokerage, an independent agency in Englewood Cliffs, New Jersey. Terms of the transaction were not disclosed. Founded in …
  
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• El Niño Wreaks Havoc in February with Fiji Cyclone, Floods & Drought: Aon Report

  08-03-2016 17:52
  
  The Southern Hemisphere registered its strongest tropical cyclone on record during February with Tropical Cyclone Winston, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. With maximum sustained winds of 295 kph (185 mph), Tropical Cyclone Winston made landfall …
  
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• XS Brokers Hires Prast as Assistant VP in Connecticut

  08-03-2016 17:39
  
  XS Brokers, a wholesale brokerage and managing general agent based in Quincy, Massachusetts, has hired Gerard Prast as assistant vice president. Prast is based in the firm’s West Hartford, Connecticut, office. Prast will be responsible for business development, continuing to …
  
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• 9 injured after commuter train derails in California

  08-03-2016 17:37
  
  Tree on the tracks blamed for accident that sent one passenger car into a nearby creek.
  
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• Residents Sue Oregon Glass Company over Pollution Concerns

  08-03-2016 17:20
  
  Seven Portland, Ore. residents are filing a class-action lawsuit against a city glass manufacturer over pollution concerns. The Oregonian reported that the suit claims Bullseye Glass was negligent and reckless in burning heavy metals in furnaces that lacked pollution controls. …
  
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• Washington Judge Orders Lender to Pay Homeowner $213K for Distress

  08-03-2016 17:14
  
  A nationwide mortgage lender is appealing a $213,000 emotional distress judgment awarded to a Bellevue, Wash. mom who was fighting to keep her home. Leticia Lucero sued Cenlar after the company failed to notify lenders her home was no longer …
  
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• Lack of Fire Alarms Common in Washington City Apartment Complexes

  08-03-2016 16:54
  
  The Everett, Wash. fire marshal says a recent inspection shows 19 of 26 apartment complexes inspected in the city lack proper fire alarm systems. Fire Marshal Eric Hicks says the owners of those complexes are currently being ordered to install …
  
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• American Financial Offers to Buy Rest of Insurer National Interstate for $293M

  08-03-2016 16:23
  
  About two years after withdrawing a similar offer, American Financial Group Inc. is proposing to acquire all of the outstanding common shares of specialty transportation insurer National Interstate Corp. that its subsidiary, Great American Insurance Co., does not already own. …
  
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• CNA Hardy Joins Lloyd’s China Platform

  08-03-2016 15:52
  
  CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced it has joined Lloyd’s Insurance Company (China) Ltd. in Shanghai by establishing CNA Hardy Underwriting division on the platform. The company began operating from …
  
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• Beazley Reports Industry Data Breaches Up 60% in 2015

  08-03-2016 15:22
  
  A leading data breach response insurer says its breach response unit handled 60 percent more data breaches in 2015 than in 2014 in the U.S., with a concentration of incidents in the healthcare, financial services and higher education sectors. Breaches …
  
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• Bank of England Governor Warns of Brexit Risks, Angering ‘Out’ Campaigners

  08-03-2016 14:37
  
  Bank of England Governor Mark Carney said on Tuesday a vote by Britain to leave the European Union could hit the country’s $2.9 trillion economy and prompt some banks to move away from London’s global financial powerhouse. In his strongest …
  
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• Thinking Outside the Glove Box to Get Recalled Autos Repaired

  08-03-2016 14:36
  
  The 63,000 spectators crowded in late January inside Atlanta’s Georgia Dome for a battle of college marching bands didn’t know they’d also be schooled in auto safety. Between the Lincoln University Orange Crush Roaring Lions and the Bethune Cookman Marching Wildcats, event …
  
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• Specialist Lloyd’s Underwriter Marketform Announces Senior Appointments

  08-03-2016 14:29
  
  Specialist Lloyd’s underwriter Marketform has announced a number of senior appointments, which are designed to strengthen its leadership team under the new chief executive officer, Martin Reith. With the strategic review of the business nearing completion, the task force, which …
  
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• 3D printing brings an uncertain products liability landscape

  08-03-2016 14:00
  
  Who is liable if a consumer is injured by a 3D-printed product?
  
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• Wildfires can damage homes without actually burning them

  08-03-2016 13:15
  
  As a recent court case illustrates, these fires can lead to flood and mudslide damage, and such losses may or may not be covered.
  
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• Meet the 16 women who run state insurance departments

  08-03-2016 13:00
  
  In honor of Women's History Month and International Women's Day, we take a look at the nation's 16 female state insurance commissioners.
  
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• The Future, and Present, Belong to Specialty P/C Insurers: Conning

  08-03-2016 12:47
  
  Specialty property/casualty insurers are now a dominant force in the market and generate more than half of the industry’s premiums, Conning Inc. asserts in a new report. Two-thirds of individual insurance companies are specialists, accounting for about 56 percent of …
  
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• Sompo Canopius Names Southgate Global Head of Marine, Energy & Engineering

  08-03-2016 08:45
  
  Sompo Canopius AG announced the appointment of Mike Southgate as global head of Marine, Energy and Engineering. He will join the group underwriting committee and report to Mike Duffy, group chief underwriting officer. Southgate, who was previously joint active underwriter …
  
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• Sompo Canopius Hires Southgate as Global Head of Marine, Energy & Engineering

  08-03-2016 08:45
  
  Sompo Canopius AG announced the appointment of Mike Southgate as global head of Marine, Energy and Engineering. He will join the group underwriting committee and report to Mike Duffy, group chief underwriting officer. Southgate, who was previously joint active underwriter …
  
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• Real-Time Tracking to Be Required for Aircraft, After MH370 Disappearance

  08-03-2016 08:32
  
  The U.N.’s aviation agency on Monday announced new requirements for the real-time tracking of civilian aircraft in distress, following the disappearance of Malaysia Airlines Flight MH370 two years ago. The International Civil Aviation Organization’s governing council approved proposals for planes to carry …
  
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• RLI Launches High Performance Driver’s Education Event Insurance

  08-03-2016 07:55
  
  RLI Insurance Co. has launched a new high performance driver’s education event insurance product, RLI Track Day. RLI Track Day provides personal vehicle insurance coverage to drivers who participate in on-track high performance driver’s education (HPDE) events. In addition to …
  
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• North Carolina Regulators Claim Duke Energy Coal Ash Pits Polluting Water

  08-03-2016 07:31
  
  Duke Energy is violating state pollution laws because its coal ash pits are polluting nearby waterways, North Carolina environmental regulators said Friday. Fines are being considered. The state Division of Water Resources sent letters to the country’s largest electric company …
  
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• Florida High Court Rules Artist Can Sue UPS Over Lost Paintings

  08-03-2016 07:00
  
  The Florida Supreme Court ruled unanimously Thursday that an artist can sue UPS in state court over two paintings removed from their shipping tube while in transit and sold by the company UPS contracts to handle its lost-and-found operation. The …
  
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• Aon Affinity, Arch Insurance Launch Social Service Insurance Program

  08-03-2016 06:51
  
  Affinity Nonprofits, a division of Aon Affinity, in partnership with Arch Insurance Group, has launched a nationwide property and casualty insurance product for the nonprofit social service sector, including organizations involved in counseling, mentoring, community action & service, special needs, …
  
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• Brazen tactics selling 'junk' add-on car insurance should be outlawed, consumer advocates say - ABC Online

  08-03-2016 04:01 via
  ABC Online
  Brazen tactics selling 'junk' add-on car insurance should be outlawed, consumer advocates say
  ABC Online
  Warranty companies are continuing to use questionable sales tactics to cold-call customers and lure them into add-on car products with little value. Key points: Wang Jun was signed up for extended car warranty after a call he did not understand ...
  

• Private medical insurance may still not cover all the costs of fighting cancer - Stuff.co.nz

  08-03-2016 03:43 via
  Stuff.co.nz
  Private medical insurance may still not cover all the costs of fighting cancer
  Stuff.co.nz
  Melanoma is a scourge in New Zealand, and treating it can put a severe strain on family finances. Cancer ranks as Kiwis' number one health concern, according to research by insurer Cigna, but the Keytruda debate has elevated the risk of impoverishment ...
  

• THE Secret to Being a Great Insurance Agent – in only 263 Words - Insurance Journal (blog)

  08-03-2016 03:37 via
  THE Secret to Being a Great Insurance Agent – in only 263 Words
  Insurance Journal (blog)
  Several years ago a relatively new insurance producer asked me this seemingly simple question, “So, what is the secret to the insurance business?” Mine was a somewhat simplistic answer with deep meaning (and a profound impact on his career).
  

• 'Deeply shocking': Turnbull government demands urgent ASIC report on life insurance industry - Sydney Morning Herald

  08-03-2016 00:59 via
  Sydney Morning Herald
  'Deeply shocking': Turnbull government demands urgent ASIC report on life insurance industry
  Sydney Morning Herald
  The federal opposition says the Turnbull government should consider a royal commission into the life insurance industry, after tricky and unethical practices within the Commonwealth Bank's insurance division were exposed by a Fairfax Media/Four Corners ...
  Inquiry urged into 'disgraceful' CBA insurance scandalThe New Daily
  The CommInsure scandal highlight
  

• Former California Agent Admits To Embezzling From Clients

  08-03-2016 00:39
  
  Julie Diane Shinar, 44, of Long Beach, Calif., was convicted of theft by embezzlement in Long Beach Superior Court. Shinar was ordered to serve three years of formal probation and pay $29,158 in restitution to her victims. Shinar reportedly received …
  
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• MH370 remains an ‘agonizing mystery’ two years after vanishing

  08-03-2016 00:38
  
  Malaysian Prime Minister Najib Razak said his government is committed to solving the “agonizing mystery” of Flight 370 as the country marks the second anniversary of the aircraft’s disappearance.
  
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• Wife of area constable charged in theft from local insurance company - KWTX

  08-03-2016 00:37 via
  KWTX
  Wife of area constable charged in theft from local insurance company
  KWTX
  GROESBECK, Texas (KWTX) The wife of a Limestone County constable is free on bond after she was charged in the theft of several thousand dollars from the Groesbeck insurance company where she worked. Lorraine Smith, 45, is charged with theft over ...
  

• Insurance Agent Has Advice Before The Storms - CBS Local

  08-03-2016 00:36 via
  CBS Local
  Insurance Agent Has Advice Before The Storms
  CBS Local
  FORT WORTH (CBS11) – Monday was the calm before the storm at Julio Rothschild's Farmers Insurance office in east Fort Worth. The insurance agent says the kind of weather we are bracing for the next few days in North Texas usually leads to major ...
  

• Taxi Drivers Sue Jackson, Mississippi Over ‘Unfair’ Regulations

  08-03-2016 00:22
  
  Two taxicab drivers are suing the city of Jackson, Mississippi, claiming the city has imposed restrictive regulations on the taxi industry. The Mississippi Center for Public Policy announced March 2 that taxicab drivers John Davis and Shad Denson have filed …
  
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