Insurance news

• The Hartford’s Grab of Maxum Specialty ‘Smart Move’: Analyst

  17-03-2016 19:33
  
  The Hartford’s plan to pay $170 million in cash for excess and surplus lines insurer Maxum Specialty is a “smart move” that should help it grow its small commercial lines unit by getting more into new industry classes, says an …
  
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• Drowning in Negative Publicity, SeaWorld Ends Killer Whale Breeding

  17-03-2016 19:33
  
  Bowing to years of pressure from animal rights activists, U.S theme park operator SeaWorld said on Thursday it would stop breeding killer whales and that those currently at its parks would be the last. Orlando-based SeaWorld has faced sagging attendance …
  
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• Pennsylvania Lawmakers Start Debating Medical Marijuana Bill

  17-03-2016 17:59
  
  The Pennsylvania House of Representatives took up a proposal this week to permit the use of marijuana for medical purposes, a potential breakthrough for supporters who have worked for several years to get legalization through the Republican-controlled Legislature. The debate …
  
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• Penn. Lawmakers Start Debating Medical Marijuana Bill

  17-03-2016 17:59
  
  The Pennsylvania House of Representatives took up a proposal this week to permit the use of marijuana for medical purposes, a potential breakthrough for supporters who have worked for several years to get legalization through the Republican-controlled Legislature. The debate …
  
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• Marsh Hires McDonough as Northeast Construction & Surety Practice Leader

  17-03-2016 17:59
  
  Marsh announced that Rob McDonough is joining the broker to lead its Construction & Surety Practice in the Northeast. In this role, McDonough will be responsible for overseeing Marsh’s risk advisory and transactional services to the firm’s growing roster of …
  
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• North Texas Commuters Hit with Damaging Hailstorms

  17-03-2016 17:50
  
  Severe thunderstorms moved in and around the Dallas/Fort Worth area this morning producing heavy rain, strong winds and hail as large as baseballs, the Insurance Council of Texas (ICT) reported. Several businesses including the Arlington Police Department reported extensive damage …
  
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• Insurance Trade Groups Oppose Minnesota Auto Insurance Bill

  17-03-2016 17:48
  
  Property/casualty insurance trade groups, the American Insurance Association (AIA) and the National Association of Mutual Insurance Companies (NAMIC), have submitted testimony to the Minnesota Legislature in opposition to a proposed auto insurance regulation bill the groups say is misguided. According …
  
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• Penn. Hails House Committee Passage of Private Flood Insurance Bill

  17-03-2016 17:47
  
  Pennsylvania Insurance Commissioner Teresa Miller hailed a recent vote by the U.S. House of Representatives Financial Services Committee approving the Flood Insurance Market Parity and Modernization Act (H.R. 2901). Miller said this legislation encourages more private insurers to write flood …
  
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• Oklahoma Insurance Commissioner: Department Can Fund Itself

  17-03-2016 17:29
  
  Oklahoma Insurance Commissioner John D. Doak has requested that the Oklahoma Insurance Department (OID) no longer receive appropriated funds from the state. He said his office as the has the ability to function on the licensing fees it collects. With …
  
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• NTSB: Feed Truck Shifted Track Before Kansas Amtrak Accident

  17-03-2016 17:20
  
  A truck used to deliver feed to a business where cattle are fattened hit a train track and shifted it at least a foot before an Amtrak train derailed in southwest Kansas and injured at least 32 people, an investigator …
  
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• Rising Rivers, Bayous Force Texas Evacuations

  17-03-2016 17:17
  
  Residents were evacuating their homes in Southeast Texas on March 15 as rivers swollen by days of heavy rain displaced thousands of people, forced the temporary closure of a major interstate and overwhelmed small towns along the Louisiana border. People …
  
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• Judge Dismisses California Lawsuit over Duracell Batteries Guarantee

  17-03-2016 17:13
  
  A federal judge threw out a lawsuit accusing Procter & Gamble Co. of misleading consumers by guaranteeing that Duracell batteries would not fail for 10 years, when in fact the batteries might leak when used or stored normally. In a …
  
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• Jury Awards $5.2M in St. Louis Fatal Tent Collapse

  17-03-2016 17:10
  
  A St. Louis, Mo., jury has awarded $5.2 million in a wrongful death and personal injury lawsuit filed over a fatal tent collapse at a sports bar near Busch Stadium. The verdict was announced on March 14. The St. Louis …
  
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• NWS Confirms F-1 Tornado Caused Damage in Southwest Ohio

  17-03-2016 17:08
  
  The National Weather Service confirms a tornado caused damage in a southwest Ohio village near Dayton. There were no immediate reports of injuries from the March 14 tornado. The National Weather Service says the EF-1 tornado touched down in Phillipsburg …
  
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• Universal Property & Casualty Licensed in New Jersey

  17-03-2016 17:01
  
  Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) was issued a certificate of authority from the New Jersey Department of Banking and Insurance approving …
  
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• Chubb Changes Transactional Insurance Team; Plans for Growth

  17-03-2016 16:44
  
  Chubb announced changes in its leadership team for its transactional risk protection products that help facilitate merger and acquisition (M&A) activity and other transactional deals. Edward Markovich, senior vice president, and Randy Hein, senior vice president, will be responsible for managing …
  
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• Gallagher’s Agnew Named Chair, London & International Insurance Brokers’ Assn.

  17-03-2016 15:48
  
  Arthur J. Gallagher International announced that Andrew Agnew, managing director of specialty and member of its executive committee, has been appointed chairman of the London & International Insurance Brokers’ Association (LIIBA). He succeeds Steve Hearn of CGSC and takes up …
  
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• Automatic Braking, Due by 2022 in U.S. Cars, Could Prevent 20% of All Crashes

  17-03-2016 14:19
  
  Major automakers will announce Thursday they have agreed to install automatic emergency braking systems in nearly all U.S. vehicles by September 2022, three sources briefed on the plans said. The U.S. National Highway Traffic Safety Administration (NHTSA) announced in September …
  
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• The Hartford Expands E&S Capabilities with Acquisition of Maxum Specialty

  17-03-2016 13:27
  
  The Hartford has agreed to purchase Northern Homelands Co., the holding company of excess and surplus lines insurer Maxum Specialty Insurance Group, for $170 million in cash. According to the announcement, Maxum will maintain its brand and wholesale distribution model …
  
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• Los Angeles Sidewalk Plan Passes off Responsibility for Future Repairs

  17-03-2016 13:00
  
  A joint City Council committee has backed a sidewalk repair plan that calls for Los Angeles to cover the cost of the first repair, then hand off the responsibility for future fixes back to the property owner. The Los Angeles …
  
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• Is a mobile app in your agency's future?

  17-03-2016 13:00
  
  They can make it easier for clients and prospects to find your agency.
  
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• How weather affects your wealthy clients

  17-03-2016 12:45
  
  Whether buried under ice or burning up, the weather can cause plenty of expensive problems for high-net-worth clients.
  
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• 3 things to do when looking for Cyber insurance

  17-03-2016 12:15
  
  Risk managers understand that it is no longer a question of “if” but instead “when” their company will experience an incident.
  
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• Here are the Top 10 P&C carriers, as ranked by NAIC

  17-03-2016 12:00
  
  No new companies broke into the 2015 list.
  
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• Integro Acquires London-Based Broker, Croton Stokes Wilson Holden

  17-03-2016 11:03
  
  International insurance broker and risk management firm Integro Ltd. announced the acquisition of London-based Lloyd’s broker Croton Stokes Wilson Holden Ltd. Financial considerations of the transaction have not been disclosed. Founded in 1988, Croton Stokes Wilson Holden Ltd. (CSWH) has …
  
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• Update: Delta Lloyd Shareholders Approve Contested Plan to Raise $720M

  17-03-2016 10:48
  
  Delta Lloyd NV rose to the highest since December after shareholders approved a contested plan to raise 650 million euros ($720 million) in a rights offer to improve its capital levels. The stock gained as much as 6.6 percent in …
  
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• Tech Firms Warn of Growing Cyber Risks: From Medical Devices to Sex Toys

  17-03-2016 10:31
  
  It’s not just computers and mobile phones that are vulnerable to cyber attack, according to software firm Trend Micro. As more devices are hooked up to the internet, it could be anything from medical equipment to industrial machinery – and even sex …
  
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• Munich Re Counters Negative Interest Rates by Boosting Gold, Cash Reserves

  17-03-2016 10:01
  
  German reinsurer Munich Re is boosting its gold and cash reserves in the face of the punishing negative interest rates from the European Central Bank, it said on Wednesday. The world’s largest reinsurer is far from alone in seeking alternative investment strategies to counter the …
  
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• IronPro Enhances Cyber, Tech Products in Canada

  17-03-2016 09:00
  
  IronPro, Ironshore’s financial and professional lines unit, is introducing a suite of enhanced cyber and Technology E&O products customized for the Canadian marketplace. IronPro’s cyber and tech products will also provide eligible Ironshore Highly Protected Information (HPI) policyholders with cyber …
  
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• The Crichton Group Hires Hite as Commercial Insurance Advisor

  17-03-2016 07:12
  
  The Crichton Group, an independent insurance agency located in Nashville, has hired industry veteran Dan Hite as commercial insurance advisor. Hite will focus on commercial insurance and risk management. He is a former executive vice president at Brown & Brown …
  
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• South Carolina ‘Driver Amnesty Week’ Offers Drivers Opportunity to Clear Violations

  17-03-2016 06:56
  
  This week is driver amnesty week in South Carolina, a time when drivers with certain kinds of license suspensions may apply to have suspension time reduced or cleared. The Department of Motor Vehicles says the program assists drivers with license …
  
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• Florida’s Citizens Pushes Policy Changes to Address Rising Water Loss Claims

  17-03-2016 06:36
  
  Citizens Property Insurance Corp.’s board of governors has approved a slate of recommendations aimed at reducing the impact of what it calls skyrocketing water-loss claims that could reverse progress made in returning Citizens to the state’s insurer of last resort. …
  
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• Citizens Approves Policy Changes to Address Rising Water Loss Claims

  17-03-2016 06:36
  
  Citizens Property Insurance Corp.’s Board of Governors announced Wednesday it has approved a slate of recommendations aimed at reducing the impact of what it calls skyrocketing water-loss claims that could reverse progress made in returning Citizens to the state’s insurer …
  
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• Insurance sector hit by lack of professionals: NIC Chief - The Hindu

  17-03-2016 01:33 via
  Insurance sector hit by lack of professionals: NIC Chief
  The Hindu
  A dearth of qualified professionals needed for claim settlement is affecting the operations of insurance companies, K. Sanath Kumar, Chairman, National Insurance Company Ltd. (NIC) said. Participating in an interactive session hosted by MCC Chamber of ...and more »
  

• Budget: fuel duty frozen, but insurance tax rises again - Herald Scotland

  17-03-2016 01:11 via
  Herald Scotland
  Budget: fuel duty frozen, but insurance tax rises again
  Herald Scotland
  FUEL duty has been frozen for the sixth Budget in a row, despite predictions the Chancellor would seize on falling forecourt prices to increase the income for the Treasury. Motoring bodies welcomed the move, though there was disappointment that there ...and more »
  

• How to Buy Car Insurance - NerdWallet (blog)

  17-03-2016 00:25 via
  How to Buy Car Insurance
  NerdWallet (blog)
  We've come a long way from the days when shopping for car insurance meant you had to meet with your neighborhood agent. While that's still an option, drivers curious about how to buy car insurance today have a variety of options at their disposal ...
  

• Penticton man faces insurance issues after losing custom-made home in fire - Globalnews.ca

  17-03-2016 00:21 via
  Globalnews.ca
  Penticton man faces insurance issues after losing custom-made home in fire
  Globalnews.ca
  PENTICTON — Rudi Krause, 79, is trying to move on from the despair of losing his dream home. Last summer, the custom-made home he was building with his own two hands was destroyed in a fire. READ MORE: “It was a part of me”: senior describes ...and more »
  

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