Insurance news

• New York’s little dam sends super-sized warning of cyber-attacks

  30-03-2016 23:10
  
  Hacker based in Iran allegedly gained remote access to a computer controlling the Bowman Avenue Dam’s flood-control structure.
  
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• Arthur J. Gallagher Acquires Joseph Distel & Co. in Connecticut

  30-03-2016 21:19
  
  Arthur J. Gallagher & Co. announced the acquisition of Joseph Distel & Co. Inc. in Farmington, Connecticut. Terms of the transaction were not disclosed. Founded in 1955, Joseph Distel & Co. is a managing general agent and wholesale insurance broker …
  
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• Automakers’ high-tech headlights disappoint in safety study

  30-03-2016 20:30
  
  A new study by the Insurance Institute for Highway Safety rates the headlights in just one of 31 new midsize cars as good.
  
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• Takata said to put worst-case auto airbag recall costs at $24 billion

  30-03-2016 19:56
  
  Takata and the automakers still have to determine how the costs are shared.
  
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• Icahn wins on AIG pay as credit swaps no longer tied to compensation

  30-03-2016 19:17
  
  The change is a ‘structural enhancement’ for 2016.
  
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• OSHA, Anheuser-Busch’s N.J. Subsidiary Resolve Safety Violations

  30-03-2016 18:59
  
  Federal labor officials have reached a deal with a New Jersey-based subsidiary of the world’s largest beer maker to settle claims of safety violations at a distribution warehouse. The Occupational Safety and Health Administration announced its deal with Anheuser-Busch Sales …
  
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• West Virginia Coal Boss Should Face Maximum Sentence, U.S. Says

  30-03-2016 18:57
  
  Former coal baron Donald Blankenship should face the maximum sentence of one year in prison for flouting mine-safety rules, prosecutors said, urging a judge to send a message to the coal industry. The government asked U.S. District Judge Irene Berger …
  
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• Three Appointed to Texas Life/Health Insurance Guaranty Association Board

  30-03-2016 18:50
  
  Texas Insurance Commissioner David Mattax has appointed three members to serve on the board of directors of the Texas Life and Health Insurance Guaranty Association. The board oversees the association, which helps to protect Texans if a life, accident or …
  
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• Chubb Launches Healthcare Industry Practice, Taps Clouser to Lead

  30-03-2016 18:47
  
  Chubb has launched a new industry practice providing insurance coverage and risk management options to the healthcare marketplace. Chubb’s Healthcare Industry Practice will offer a range of insurance products and services for healthcare customers, including hospitals, physicians, long-term care facilities, …
  
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• Arkansas Man Sentenced to 15 Years in Prison for Insurance Fraud

  30-03-2016 18:46
  
  An Arkansas man has been sentenced for 15 years in prison for two counts of insurance fraud, the state insurance department announced. Cody Martin, 29, pleaded guilty in Pulaski County Circuit Court in January to two counts of insurance fraud …
  
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• Donegan to Step Down as Vermont Commissioner

  30-03-2016 18:40
  
  Susan L. Donegan, who has been serving as commissioner of the Vermont Department of Financial Regulation (DFR) for past three years, will step down from her position. Donegan’s last day in office will be June 30, according to a department …
  
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• Officials Raise the Number of Homes Destroyed in Kansas W

  30-03-2016 18:34
  
  The biggest wildfire in Kansas history has been largely contained, but authorities said more homes were damaged than originally thought. The Kansas Adjutant General’s Office said that nine Barber County homes were destroyed in the fire, which started in Oklahoma …
  
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• GM wins second trial over crashes blamed on ignition flaw

  30-03-2016 18:34
  
  The carmaker has already paid out more than $2 billion to resolve legal issues stemming from the scandal.
  
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• Motor Vehicle-Related Pedestrians Deaths Up in Ohio

  30-03-2016 18:30
  
  A safety group’s report shows the number of pedestrians killed by motor vehicles in Ohio in the first six months of 2015 climbed and Ohio led all states in the percentage increase over the same period in 2014. The Dayton …
  
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• Minot Acquiring Flood Protection Properties

  30-03-2016 18:27
  
  Minot, N.D., has acquired more than 60 percent of the properties needed for a flood protection project that will begin construction next year. Finance Director Cindy Hemphill tells the Minot Daily News that the city has bought out 99 properties …
  
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• Erhart, Rosen Promoted at Great American Insurance Group

  30-03-2016 18:25
  
  Cincinnati, Ohio-based Great American Insurance Group promoted Sue A. Erhart to general counsel and Eve Cutler Rosen was named executive counsel within the company’s property and casualty legal group. Erhart will continue to have direct responsibility for the staff and …
  
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• 4 Parishes Added to Louisiana Disaster Declaration

  30-03-2016 18:24
  
  Four more parishes have been added to a presidential disaster declaration that followed recent historic flooding in Louisiana. Sen. David Vitter’s office said that the latest additions are Jackson, Rapides, Red River and Sabine parishes. The disaster declaration makes public …
  
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• MetLife Wins Court Appeal to Strike Down Systemic Risk Tag

  30-03-2016 18:10
  
  MetLife Inc. beat back a U.S. attempt to label it too big to fail, which would’ve put America’s biggest life insurer under tougher government scrutiny and forced it to put more money in reserves. A federal judge in Washington struck …
  
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• MetLife defeats U.S. government's too-big-to-fail labeling

  30-03-2016 17:49
  
  A federal judge struck down the designation, rejecting the FSOC’s rationale for classifying MetLife as a systemically important financial institution.
  
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• Hawaii Lawmakers: How Much Pot Is OK While Driving?

  30-03-2016 17:35
  
  Hawaii lawmakers are asking how much marijuana a driver can safely consume before getting behind the wheel of a car. It’s an issue they want to tackle now that Hawaii is setting up medical marijuana dispensaries, so Rep. Cindy Evans …
  
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• Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey

  30-03-2016 17:33
  
  While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …
  
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• First Autonomous Urban Drone Delivery in Nevada

  30-03-2016 17:29
  
  A drone has delivered a package to a residential location in a small western Nevada town in what its maker says is the first fully autonomous, federally approved urban drone delivery in the United States. Flirtey CEO Matt Sweeney announced …
  
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• New Mexico Weather Creating Dangerous Wildfires Conditions

  30-03-2016 17:25
  
  Authorities are warning that weather conditions across much of New Mexico are creating conditions ripe for dangerous wildfires. A red flag warning has been issued for portions of southern, central and eastern New Mexico due to strong winds and low …
  
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• Alliant Names Dobbs Vice President in Real Estate Group in California

  30-03-2016 17:23
  
  Real estate specialist Mark Dobbs has joined Alliant Insurance Services as vice president within the company’s real estate group. Los Angeles, Calif.-based Dobbs will focus on organizations with portfolios spanning various product types. Dobbs’ background includes investment banking, real estate …
  
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• Capp Joins Answer Financial to Sign More Business Partners

  30-03-2016 17:08
  
  Tom Capp has joined the senior management team for the online auto and home insurance agency Answer Financial. Capp, as senior vice president of Business Development, will be working to grow the company’s network of business partners. Capp worked with …
  
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• Split Supreme Court in Search of Birth Control Benefit Compromise

  30-03-2016 16:26
  
  The U.S. Supreme Court called for additional briefing in a divisive clash over contraceptives and Obamacare, issuing an unusual order that suggests at least one justice may be eyeing a possible compromise. The order comes less than a week after …
  
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• Around the P&C insurance industry: March 30, 2016

  30-03-2016 16:15
  
  News from Guidewire, ISO, Chubb and more.
  
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• Insurance Safety Institute Finds Most Headlights Not Bright Enough

  30-03-2016 14:54
  
  The Toyota Prius v is the only midsize car out of 31 evaluated to earn a good rating in the Insurance Institute for Highway Safety’s first-ever headlight ratings. The best available headlights on 11 cars earn an acceptable rating, while …
  
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• 7 business networking questions, answered

  30-03-2016 13:45
  
  Here are some takeaways on how build and maintain your networking list.
  
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• Road ahead for fleet owners renewing insurance looks rocky

  30-03-2016 13:15
  
  Trucking companies of all sizes are generally experiencing increases in insurance pricing from factors that range from Workers’ Compensation costs to fleet issues to rising jury verdicts.
  
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• 5 funny road signs that try to keep us safe

  30-03-2016 13:00
  
  Public safety officers use humor to educate travelers.
  
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• AIG Executives’ Pay Trimmed for Missing Profit Goals

  30-03-2016 12:50
  
  American International Group Inc., the insurer being pressured by activist investors to split up, cut short-term incentive pay for Chief Executive Officer Peter Hancock by 29 percent last year as he missed profit targets. The CEO received $2.5 million from …
  
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• U.S. Promises Rules for Makers of Driverless Cars Within Months

  30-03-2016 12:45
  
  U.S. regulators are making progress and will begin issuing guidelines to help the introduction of self-driving car technology within the next few months, Transportation Secretary Anthony Foxx said. The rapidly developing technology promoted by companies such as Google, Tesla Motors …
  
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• AmWINS’ MGA Unicorn Names Nightingale as CEO, Cashen as Motor Fleet U/W

  30-03-2016 11:37
  
  Charlotte, N.C.-based broker AmWINS Group Inc. announced the appointment of Darren Nightingale as chief executive officer of its London-based managing general agent, Unicorn Underwriting. Nightingale will be joined by Julian Cashen from Liberty Underwriting as class underwriter, motor fleet. Together …
  
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• Bermuda-Based Artex Buys Hexagon Insurance PCC, to Boost ILS Capability

  30-03-2016 11:09
  
  Artex Risk Solutions announced it has entered into a definitive agreement to acquire the cores of Guernsey-domiciled Hexagon Insurance PCC Ltd. and its subsidiaries. All regulatory approvals have been received and the deal is expected to close on March 31, …
  
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• Insurance Claims from China’s Tianjin Port Blasts Rise to $3.5B: Swiss Re’s ‘sigma’

  30-03-2016 10:30
  
  Insurance payouts from the chemical blasts at the Chinese Port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. The estimate of …
  
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• Legacy Specialist Compre Arranges Deals with QBE and German Mutual

  30-03-2016 10:21
  
  Compre, the London-based insurance and reinsurance legacy specialist, announced the signing of an agreement to acquire QBE’s share of the Ridgwell Fox & Partners’ (RFP) pool legacy reinsurance business. The transaction is structured as a loss portfolio transfer, to be …
  
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• Ideas, Innovation and Mentorship Mix at Global Insurance Accelerator

  30-03-2016 07:24
  
  Iowa, and Des Moines in particular, in the 1980s fostered a business climate that enabled insurance and financial institutions to prosper there. Today, the focus is on creating an environment that supports innovation and entrepreneurism in businesses that serve the insurance industry. “Des Moines …
  
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• Most US car headlights inadequate, insurance group's ratings find - Business Insider

  30-03-2016 06:42
  Business Insider
  Most US car headlights inadequate, insurance group's ratings find
  Business Insider
  WASHINGTON (Reuters) - Headlights on a third of U.S. midsize car models do a poor job, and only one, the Toyota Prius v, performed well enough with an optional upgrade to earn a good rating from the Insurance Institute for Highway Safety in results ...and more »
  

• South Carolina Flood Relief Fund Awarding $760K to 18 Charities

  30-03-2016 06:13
  
  South Carolina’s One SC relief fund is awarding $760,000 to 18 charities that are helping people recover from last October’s historic flooding. The awards announced Monday represent the second round of grants from the fund Gov. Nikki Haley launched in …
  
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• Brooks Insurance merges with USI - Toledo Blade

  30-03-2016 06:04
  Toledo Blade
  Brooks Insurance merges with USI
  Toledo Blade
  The Brooks Insurance Agency has been sold to a major New York insurance firm, though the company's president said the downtown Toledo office will continue to operate more-or-less independently from its new corporate parent. Johnson Enlarge.
  

• Atlanta Airport, Uber Battle Over Background Checks for Drivers

  30-03-2016 05:59
  
  A battle over background checks for Uber drivers at the world’s busiest airport comes as cities like Los Angeles and Austin, Texas, consider more thorough screenings to prevent criminals from getting behind the wheel. Uber has objected to the Atlanta …
  
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• Homes, businesses paying higher insurance rates - WJXT Jacksonville

  30-03-2016 03:46
  WJXT Jacksonville
  Homes, businesses paying higher insurance rates
  WJXT Jacksonville
  JACKSONVILLE, Fla. - Are you paying more to insure your home or business and don't even know it? Probably. Twenty-three thousand homes and businesses in Duval County are located in areas where it costs more to insure them. Why? The insurance ...
  

• Medicaid sets final rule on behavioral, physical health insurance parity - Winston-Salem Journal

  30-03-2016 02:46
  Medicaid sets final rule on behavioral, physical health insurance parity
  Winston-Salem Journal
  Federal health regulators disclosed Tuesday the final rule that creates a level insurance field for mental and physical health coverage. The Mental Health Parity and Addiction Equity Act of 2008 generally requires that health-insurance plans treat ...and more »
  

• Florida Gov. Rejects CFO's Pick for Insurance Commissioner, Application Reopened - Insurance Journal

  30-03-2016 02:08
  Miami Herald
  Florida Gov. Rejects CFO's Pick for Insurance Commissioner, Application Reopened
  Insurance Journal
  Florida Gov. Rick Scott made it known Tuesday that his choice for the next Florida insurance commissioner would not be State Representative Bill Hager. “I won't second it,” was Scott's quick response to Chief Financial Officer Jeff Atwater's motion to ...
  No vote on insurance commissioner as Gov. Scott, Cabinet can't agreeMiami Herald
  Cabinet puts off insurance pick after
  

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