Insurance news

• Ride-sharing services to have little impact on car sales, survey finds

  10-03-2016 23:36
  
  Despite fears to the contrary, the emergence of the sharing economy may not lead to the death of Detroit, after all, according to a new study from automotive researcher Kelley Blue Book.
  
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• ACORD elects Marsh's Pieroni as new president, CEO

  10-03-2016 23:26
  
  William Pieroni succeeds Gregory Maciag, who will remain with the organization as president emeritus and as an adviser.
  
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• DA: Philly father, son killed relative for insurance money - 6abc.com

  10-03-2016 23:03 via
  6abc.com
  DA: Philly father, son killed relative for insurance money
  6abc.com
  A Philadelphia father and son are charged with killing their family member in order to collect insurance money. Embed. <iframe width="476" height="270" src="http://6abc.com/video/embed/?pid=1240391" frameborder="0" allowfullscreen></iframe>. WPVI.
  Philly father, son killed relative for $100K in insurance money, authorities sayNJ.com
  Prosecutor: Pair caused overdose to get insurance moneyCBS News
  Two charged
  

• Berkshire’s Specialty-Insurance unit opens Europe operation

  10-03-2016 22:49
  
  Berkshire Hathaway Inc. will begin offering coverage in Europe through a specialty-insurance unit that Chairman Warren Buffett has been building over the past three years.
  
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• Prices are rising and underwriting is tightening, PIA survey shows

  10-03-2016 20:00
  
  Professional Insurance Agents of Connecticut, New Hampshire, New Jersey and New York State share result of annual survey.
  
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• Zurich needs clear strategy to rebuild trust, Greco tells staff

  10-03-2016 19:43
  
  New Zurich Insurance CEO Mario Greco tells staff the company needs a clear and simple strategy to rebuild investor confidence as it tries to turn around its struggling general insurance unit.
  
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• Allstate’s Judy Greffin steps down from running $78 billion portfolio

  10-03-2016 19:13
  
  Chief Investment Officer Judy Greffin is retiring effective March 31, after helping diversify Allstate's portfolio beyond bonds.
  
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• Small-Business Owners Ask New York to Reject $15 Minimum Wage Plan

  10-03-2016 18:59
  
  Small-business owners struck back against New York Gov. Andrew Cuomo’s plan to implement a $15 minimum wage Tuesday, saying the Democratic governor’s call to enact what would be the highest state minimum in the country would devastate an already struggling …
  
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• H.W. Kaufman Financial Group Acquires New Orleans Site for Burns & Wilcox Center

  10-03-2016 18:55
  
  The Michigan-based specialty insurance organization, H.W. Kaufman Financial Group, has acquired the Cox Communications Building located in the greater New Orleans area. As part of the acquisition, the building will be rebranded as the Burns & Wilcox Center and will house …
  
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• New Jersey Couple, Son Accused of Torching $139K Bentley for Insurance

  10-03-2016 18:54
  
  Authorities announced that a Hudson County, New Jersey, couple, along with their adult son and the manager of a car dealership, have been charged with conspiracy, insurance fraud, and other offenses for allegedly falsifying a car loan application to buy …
  
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• Oklahoma Bill Would Confirm Oil & Gas Regulators’ Authority

  10-03-2016 18:49
  
  A proposal that would confirm state regulators’ authority to bind companies to their directives has passed the state House and heads to the Senate. The state House of Representatives passed the bill that would explicitly confirm the Oklahoma Corporation Commission …
  
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• Hannover Re considers higher payout ratio after record profit

  10-03-2016 18:47
  
  Hannover Re, the world’s fourth-largest reinsurer, may increase the proportion of profit distributed to shareholders after full-year earnings increased by 17%.
  
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• Texas Seeks Comments on Windstorm Inspection Rule

  10-03-2016 18:43
  
  The Texas Department of Insurance is seeking comments on an informal working draft of amendments that would update the rule relating to items not requiring inspection for the purposes of windstorm and hail insurance coverage through the Texas Windstorm Insurance …
  
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• Storm System Dumps Heavy Rain on South Central States, More Expected

  10-03-2016 18:32
  
  A large storm system has drenched areas in Louisiana, Oklahoma and Texas that were already inundated with heavy rainfall this week. Two people have drowned in Oklahoma and Texas. Nearly a foot of rain fell over parts of northwest Louisiana …
  
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• PIACT Names Officers for 2016-17

  10-03-2016 18:28
  
  The Professional Insurance Agents of Connecticut Inc. (PIACT) announced that Loretta Lesko, vice president of operations for the DiMatteo Group in Shelton, Connecticut, has been elected president of PIACT for 2016-17. An active member of PIACT, Lesko served as president-elect …
  
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• Alper Services Adds Gausden in Commercial Lines Divsion

  10-03-2016 18:23
  
  Matt Gausden has joined Chicago-based Alper Services as client executive in its Property & Casualty Commercial Lines Division. Gausden will develop and maintain high-quality risk management programs for large, complex accounts. With 10 years of experience in the industry, Gausden …
  
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• South Dakota Bill Allows Insurer Tax Credits for Private School Scholarships

  10-03-2016 18:17
  
  A bill that would give insurance companies tax credits for contributions to help lower-income students in South Dakota attend private schools is headed to Gov. Dennis Daugaard after passing through the state Legislature. The House voted 45 to 23 to …
  
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• Americans’ housing wealth recovers $7 trillion as prices firm

  10-03-2016 18:06
  
  Even in the worst-hit markets, home equity is being restored.
  
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• Boston-Area Chipotle Completes Cleanup After Norovirus Scare

  10-03-2016 17:45
  
  Chipotle Mexican Grill Inc received praise for its handling of potential norovirus infections at a Boston-area restaurant, as sick employees stayed home and the burrito chain quickly cleaned the restaurant. Shares of Chipotle fell as much as 6.1 percent early …
  
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• Allianz’s top two investing executives to retire from insurer

  10-03-2016 17:37
  
  Allianz SE, Europe’s biggest insurer, said its two most senior executives responsible for the company’s asset management and investments businesses will leave.
  
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• New Mexico Governor Ready to Sign Ridesharing Bill

  10-03-2016 17:13
  
  New Mexico Gov. Susana Martinez is expected to sign a measure that would allow San Francisco-based ride-booking companies Uber and Lyft to operate in the state. Martinez is scheduled Wednesday to attend a signing ceremony in Albuquerque after arriving in …
  
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• Lawsuit Filed against Colorado Hospital in Stolen Painkillers Case

  10-03-2016 17:10
  
  A lawsuit has been filed against Swedish Medical Center, alleging the Denver, Colo.-area hospital was negligent in hiring a surgery technician who put thousands of patients at risk of being exposed to HIV and hepatitis. The Denver Post reported the …
  
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• Generali Set to Nominate Donnet as CEO, Succeeding Greco: Sources

  10-03-2016 17:09
  
  Assicurazioni Generali SpA is set to propose Italy country manager  Philippe Donnet as chief executive officer, replacing Mario Greco, who has joined Zurich Insurance Group AG, according to two people with knowledge of the discussions. Generali’s appointments and corporate governance …
  
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• Why No One Can Afford Long-Term Care Insurance (and What to Use Instead) - U.S. News & World Report

  10-03-2016 16:51 via
  U.S. News & World Report
  Why No One Can Afford Long-Term Care Insurance (and What to Use Instead)
  U.S. News & World Report
  You might have sticker shock if you're in the market for long-term care insurance. Here are seven alternatives to consider. A bottle of pills balances on a seesaw with a piggy bank. Long-term care insurance is expensive, but it's not the only way to ...and more »
  

• U.K. Eyes Requiring Drones to Fit Anti-Collision Technology for Aviation Safety

  10-03-2016 16:26
  
  Britain is considering whether civilian drones will have to be fitted with technology intended to prevent collisions with airplanes after a series of near-misses around airports. “The U.K. government and the Civil Aviation Authority are talking to manufacturers about implementing …
  
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• Hartford CEO Swift to Chair P/C Insurer Trade Group AIA

  10-03-2016 16:04
  
  The Hartford Chairman and CEO Christopher J. Swift will become chairman of the board of directors of the American Insurance Association (AIA) at its March meeting, serving a one-year term. Swift succeeds Michael S. McGavick, CEO of XL Group, as …
  
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• Looking to expand in another country? Check the political risk first

  10-03-2016 15:00
  
  Information from Aon’s interactive Political Risk Map is now freely accessible
  
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• Senate Bill Would Require Testing Drone Operators on Rules of the Sky

  10-03-2016 14:47
  
  All U.S. drone operators would for the first time have to prove they understand aviation regulations under broad legislation introduced Wednesday in the Senate. A bill setting policy for the Federal Aviation Administration includes several new drone provisions, including a …
  
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• 5 P&C companies named to list of ethical companies

  10-03-2016 14:30
  
  This is the 10th year Ethisphere has put together the list, and Aflac has been on it each year.
  
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• Suit by Aon Founder Ryan Claims IT Startup Swindled Him Out of Millions

  10-03-2016 14:27
  
  Aon Corp. founder Patrick G. Ryan claims he was cheated out of hundreds of millions of dollars when  Mu Sigma Inc. downplayed its own growth prospects in a ruse to buy back his investment company’s early stake in the fast-growing …
  
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• Hudson County couple, son charged with torching $140K Bentley for insurance - NJ.com

  10-03-2016 14:13 via
  NJ.com
  Hudson County couple, son charged with torching $140K Bentley for insurance
  NJ.com
  A Hudson County couple, their son, and a car dealership manager, have been charged with conspiracy, insurance fraud and other charges for allegedly falsifying a car loan application in order to buy a $139,000 Bentley and then torching the car and ...
  New Jersey family accused of burning Bentley for insurance claimPhillyVoice.com
  New Jersey Couple, Son Accused of Torching $139K Bentley for InsuranceInsuranc
  

• What every adjuster should know before working in a catastrophe zone

  10-03-2016 14:00
  
  Catastrophe duty can be a rewarding experience for adjusters, but they need to be properly prepared.
  
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• Peyton Manning’s leadership lessons for advisors

  10-03-2016 13:45
  
  In a speech to advisors and in the way he played the game, the Denver Broncos' Peyton Manning taught valuable lessons that will outlive his playing days.
  
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• Update: Hannover Re Weighs Higher Dividend After Record 2015 Earnings

  10-03-2016 13:30
  
  German reinsurer Hannover Re will focus on boosting earnings rather than premiums this year and may pay out more special dividends to shareholders, Chief Executive Ulrich Wallin said on Thursday. The world’s third largest reinsurer posted record 2015 net profit of 1.15 …
  
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• Hannover Re Weighs Higher Dividend After Record 2015 Earnings

  10-03-2016 13:30
  
  Hannover Re, the world’s fourth-largest reinsurer, may increase the proportion of profit distributed to shareholders after full-year earnings increased by 17 percent. The company may raise the payout from the current 35 percent to 40 percent of net income “if …
  
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• Is your business prepared for weather and cyber risks?

  10-03-2016 13:15
  One-third of businesses fail within the first year after a disaster, and another third fail within five years. Companies that plan for emergencies greatly increase the likelihood of staying in business.
  
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• 4 areas for insurance to modernize in 2016

  10-03-2016 13:00
  
  Xchanging survey says insurance must continue to modernize to remain competitive in an increasingly globalized environment.
  
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• AIG Frees Up Capital with Reinsurance Pact with Swiss Re

  10-03-2016 12:44
  
  American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year reinsurance deal will help AIG be more …
  
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• Miller Hires Jones to Lead North American Wholesale & Facultative Property Book

  10-03-2016 12:17
  
  Honor Jones has joined London-based Miller Insurance Services to drive the growth of its wholesale and facultative property book in North America. Honor Jones has over 20 years’ experience of placing risks on behalf of organizations with interests in a wide range …
  
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• XL Catlin Expands Crisis Management Product Suite in UK, Asia Pacific, Germany

  10-03-2016 12:01
  
  XL Catlin has introduced “Active Assailant” coverage to its crisis management product suite to respond to the threat of physical attack faced by businesses and public service providers. “Active Assailant coverage will initially be underwritten in the U.K., U.S., Germany …
  
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• Alesco Appoints Bragg to Lead Latin American Property Facultative Team

  10-03-2016 09:59
  
  Alesco Risk Management Services*, the specialist insurance and risk management broker, announced Adam Bragg will be joining as head of the organisation’s Latin America Property Facultative team. His primary focus will be developing business throughout Latin America, particularly in Peru, …
  
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• Hiscox to Sell Hong Kong Division of DirectAsia Business to Well Link Group

  10-03-2016 09:27
  
  Hiscox, the specialist insurance group, announced it has reached an agreement to sell the Hong Kong division of its DirectAsia business to Well Link Group Holdings Ltd., a member of a Hong Kong-based financial conglomerate. The transaction, which will allow Hiscox to focus the …
  
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• Travelers to Offer Homeowners Insurance Discount for Smart Home Devices

  10-03-2016 06:48
  
  The Travelers Companies, Inc. will now provide a discount on homeowners insurance for eligible customers with qualifying smart home devices. Smart smoke detectors and security systems that alert homeowners through their smartphones may qualify for the Protective Device discount from …
  
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• Perdue Foods Issues Recall of Georgia-Made Chicken Nuggets

  10-03-2016 06:38
  
  Georgia says the Gainesville, Ga.-based Perdue Foods is recalling about 4,530 pounds of chicken nuggets. A statement from the state agriculture department says the nuggets were made in Georgia and are being recalled because they may include plastic. The products …
  
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• Georgia City Bans Drones Over City Gatherings

  10-03-2016 06:30
  
  Officials in Augusta, Ga., have voted to ban drone flights year-round over crowded areas. The Augusta Chronicle reports that after having banned the devices during the Masters golf tournament, the Augusta Commission voted 7-2 on March 1 to ban drones …
  
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• Florida Battle Over Law Limiting Doctors’ Gun Speech Rages On

  10-03-2016 06:22
  
  As a pediatrician, Dr. Judith Schaechter can ask parents of her patients all sorts of questions regarding their safety and well-being: what the child eats, whether there’s a backyard pool and whether the child gets enough sleep. Yet the question …
  
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• Pop Warner Football Settles Wisconsin Head Injury Lawsuit

  10-03-2016 01:45
  
  The youth football organization, Pennsylvania-based Pop Warner, reportedly has settled a lawsuit filed in Wisconsin by the mother of a man who committed suicide, allegedly as a result of suffering numerous head injuries as child playing in a Pop Warner …
  
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