Insurance news

• Carlyle Group Acquires Wholesale Trading Co-Op in New York

  05-04-2016 23:08
  
  Wholesale Trading Co-Op Insurance Services, a wholesale brokerage based in New York City, recently announced that its assets will be acquired by private-equity giant Carlyle Group. Terms of the transaction were not disclosed. Wholesale Trading Co-Op Insurance Services will be …
  
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• California risks two weeks of blackouts without Sempra gas field

  05-04-2016 22:42
  
  Power plants may not have enough access to natural gas on as many as 14 days this summer to produce electricity in Southern California during certain peak-use times.
  
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• Farmers Expects More than $250M in Claims from Severe Weather in Texas

  05-04-2016 18:49
  
  Farmers Insurance expects claims from two recent severe weather systems in the Dallas/Fort Worth area will result in more than $250 million in losses. Intense hail and wind from the storms caused extensive damage to homes and vehicles in March. Farmers …
  
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• R.I. Pub Owner Fights Allegations He Set Fire to His Business

  05-04-2016 18:48
  
  A Massachusetts man has pleaded not guilty to charges that he set his Rhode Island restaurant on fire to collect the insurance money. The U.S. Attorney’s office in Providence says 50-year-old Daniel Saad, of Spencer, Massachusetts, set fire to Snow’s …
  
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• Lightning Strike Damages ‘Hair Curlers’ Sculpture in Downtown Kansas City

  05-04-2016 18:44
  
  Repairing a lighting-damaged sculpture that is a fixture of the downtown Kansas City skyline will cost more than $1 million, officials say. The city’s insurance is expected to cover the cost of fixing the futuristic sculpture, The Kansas City Star …
  
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• Maryland’s Chesapeake Employers to Begin Phasing in NCCI Rates in 2020

  05-04-2016 18:43
  
  Chesapeake Employers’ Insurance Company, Maryland’s largest writer of workers’ compensation insurance, announced its plan to phase in the National Council on Compensation Insurance’s (NCCI) rating methodology and other changes as required by state legislation enacted in 2015. Chesapeake Employers President …
  
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• Some Louisiana Residents Dropped Flood Insurance, Now Regret It

  05-04-2016 18:41
  
  Some Monroe, La., homeowners dropped flood insurance when they got the choice, and are now regretting it. Some homeowners in the area got notices from their mortgage company saying they were no longer required to buy flood insurance, and some …
  
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• Kerry says climate change may flood lower Manhattan by 2100

  05-04-2016 18:40
  
  U.S. Secretary of State John Kerry warned that rising seas could devastate coastal cities, including New York, if nations do not aggressively.
  
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• Windhaven Insurance Acquires ATX Premier

  05-04-2016 18:39
  
  Miami, Fla.-based auto insurer, Windhaven Insurance, announced it has acquired ATX Premier, a Texas-based property/casualty provider, in an agreement with NationsBuilders Insurance Services Inc. (NBIS). Technology-focused, Windhaven has both a local agent app and a consumer app. It also created …
  
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• North Carolina Arrests 2, Seeks 3 Others Behind Staged Car Accident

  05-04-2016 18:31
  
  Two individuals in North Carolina have been arrested in connection with an alleged staged auto accident, according to a statement from North Carolina Insurance Commissioner Wayne Goodwin. Investigators are also currently seeking three other suspects in association with the case. …
  
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• Commercial Insurers Moderated Rate Cuts Slightly in March: MarketScout

  05-04-2016 18:31
  
  Commercial insurers eased up slightly on rate cutting in March, according to the MarketScout barometer for the month. After three straight months of price cuts averaging 4 percent, U.S. commercial property, inland marine, general liability, umbrella, workers’ compensation and professional …
  
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• Carbone-Moser Joins Great American Insurance Group’s Aviation Division as VP

  05-04-2016 18:30
  
  Cincinnati-based Great American Insurance Group has hired Mellissa Carbone-Moser as divisional vice president within its Aviation Division. She will be responsible for the supervision and management of all aviation-related claims and litigation. Carbone-Moser is an experienced aviation claims attorney, with 10 …
  
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• USI Insurance Services Acquires Forrest Sherer Insurance in Indiana

  05-04-2016 18:28
  
  USI Insurance Services (USI) has acquired Forest Sherer Insurance Inc. (Forrest Sherer) from First Financial Corp. Headquartered in Terre Haute, Ind., Forrest Sherer has been providing property-casualty, employee benefits and personal risk services for more than 90 years. The employees …
  
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• Former Oklahoma Insurance Agent Pleads Guilty to $500K Scam

  05-04-2016 18:28
  
  A former insurance agent in Oklahoma has pleaded guilty to scamming $505,126.43 from his clients, the Oklahoma Insurance Department announced. A joint investigation including the OID’s Anti-Fraud Unit led to the charges against Gary Edward Hibbing, 52, formerly of Grove. …
  
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• Element Risk Management Acquires Barnett Insurance in Pittsburgh

  05-04-2016 18:23
  
  Element Risk Management, an independent agency based in West Chester, Pennsylvania, with an additional office in Bel Air, Maryland, announced that it has acquired Barnett Insurance Inc., an independent agency in Pittsburgh. Terms of the transaction were not disclosed. Founded …
  
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• Florida Approves Anthem Bid to Acquire Cigna’s Florida-based Affiliates

  05-04-2016 18:19
  
  The Florida Office of Insurance Regulation (OIR) has issued a Consent Order (see below) approving, with additional requirements, Anthem, Inc.’s (Anthem) application to acquire 100 percent of the issued and outstanding voting securities of HealthSpring of Florida (d/b/a Leon Medical …
  
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• Berkshire Hathaway Specialty Hires AIG Exec Valzania in Boston

  05-04-2016 18:07
  
  Berkshire Hathaway Specialty Insurance (BHSI) has hired David Valzania as customer and broker engagement leader for the eastern U.S. region. He is based in BHSI’s office in Boston. Valzania comes to BHSI with nearly three decades of insurance industry experience. …
  
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• Chubb Adds Cyber Bullying Insurance for U.S. Homeowners

  05-04-2016 18:03
  
  Chubb has added cyber bullying coverage to its U.S. Masterpiece Family Protection policy to help cover clients and their families from the expenses associated with a cyber bullying incident. According to Christie Alderman, vice president, Client Product & Service, Chubb …
  
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• A guide to understanding renters insurance - Christian Science Monitor

  05-04-2016 18:02
  Christian Science Monitor
  A guide to understanding renters insurance
  Christian Science Monitor
  Renters insurance can help cover your personal belongings, which your landlord's insurance policy won't cover. By Juan Castillo, NerdWallet April 5, 2016. Save for later Saved. close. Newly built apartments are advertised for rent in downtown Miami (Feb.and more »
  

• Chubb’s Shanks, ACE’s Huntley Join QBE North America High Net Worth Expansion

  05-04-2016 17:36
  
  QBE North America announced two executive appointments to support growth in personal insurance and expansion into the high net worth market. Eric Shanks has been appointed senior vice president, High Net Worth. In this newly created position, Shanks will have …
  
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• California Judge Rules in Favor of Lumber Liquidators in Prop. 65 Case

  05-04-2016 17:31
  
  Lumber Liquidators Holdings Inc. won a tentative ruling dismissing claims that it failed to adequately warn consumers about cancer-causing formaldehyde found in some of its laminate flooring. Monday’s decision is a victory for the company after its sales and market …
  
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• NY Times Report On Employer-Provided Insurance Puts Another Nail In The Coffin Of Conservatives' ACA ... - Media Matters for America (blog)

  05-04-2016 17:12
  Media Matters for America (blog)
  NY Times Report On Employer-Provided Insurance Puts Another Nail In The Coffin Of Conservatives' ACA ...
  Media Matters for America (blog)
  A New York Times article debunked the right-wing myth that the Affordable Care Act (ACA) would cause employers to stop providing health benefits to employees, reporting that "widespread predictions that employers would leap at the chance to drop ...and more »
  

• Nevada Donor Network Sued by Family with Claims of Fraud

  05-04-2016 17:10
  
  Three sisters have filed a lawsuit against the Nevada Donor Network claiming the nonprofit was misleading when a representative convinced them to allow tissue to be harvested from their mother. Kristine Fagone and her sisters say when their mother died …
  
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• Wind damage from weekend should be covered by insurance - Columbus Dispatch (blog)

  05-04-2016 17:07
  Wind damage from weekend should be covered by insurance
  Columbus Dispatch (blog)
  These strong winds from over the weekend figure to have plenty of Ohio homeowners calling their insurance agents with questions about what their policy covers when it comes to fixing damaged roofs or siding. The Ohio Insurance Institute says the wind ...
  

• Safeco Insurance recognizes Paschall Insurance Group, LLC for strong performance - Fort Worth Star Telegram

  05-04-2016 16:24
  Fort Worth Star Telegram
  Safeco Insurance recognizes Paschall Insurance Group, LLC for strong performance
  Fort Worth Star Telegram
  Greg Illston, Safeco's Central Region Senior Territory Manager, presents Safeco's Premier Partner Award to Paul Paschall, owner/agent of Paschall Insurance Group. PI Photo courtesy. i. Greg Illston, Safeco's Central Region Senior Territory Manager, ...and more »
  

• Lawmakers want MinnesotaCare publicly sold to help address insurance costs - Post-Bulletin

  05-04-2016 15:19
  Lawmakers want MinnesotaCare publicly sold to help address insurance costs
  Post-Bulletin
  ST. PAUL -- Rod Huinker is no stranger to speaking out for what he believes in. The Red Wing man is a former P-9er who lost his job at Hormel Foods Corp.'s Austin plant during the 1985-1986 strike. Since then, he stands up at Austin-based Hormel Foods ...
  

• VeriFyle Announces Partnership with Insurance Designers of America - Business Wire (press release)

  05-04-2016 15:00
  VeriFyle Announces Partnership with Insurance Designers of America
  Business Wire (press release)
  SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFyle, a leader in secure messaging and file sharing, today announced a partnership with Insurance Designers of America (IDA), one of the oldest and largest insurance marketing organizations (IMOs) in the country, ...and more »
  

• ArgoGlobal Appoints Summers as Credit and Political Risks Underwriter

  05-04-2016 14:59
  
  ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Andrew Summers as credit and political risks underwriter. He will report to Jeremy Shallow, credit and political risks class underwriter, effective immediately. Summers joins ArgoGlobal from AIG …
  
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• Ageas Completes Acquisition of AXA’s Portuguese Business for $215.2 Million

  05-04-2016 14:38
  
  Ageas has completed the purchase of AXA’s Portuguese operations, which has a non-life business, a direct/internet non-life business and a life business. AXA said the sale was completed for a total cash consideration of €189 million ($215.2 million). This transaction, …
  
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• Music Stars Join Industry Fight to End Copyright Shield for Technology Firms

  05-04-2016 14:10
  
  Katy Perry, Billy Joel and Rod Stewart are asking the U.S. government to reform provisions of copyright law that they say enrich large technology companies at their expense. The three are among the more than 100 artists and managers who …
  
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• Marine Insurance Expert Andy Lewis Joins Alliant - Business Wire (press release)

  05-04-2016 14:05
  Marine Insurance Expert Andy Lewis Joins Alliant
  Business Wire (press release)
  NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Marine insurance expert Andy Lewis has joined Alliant Insurance Services as Vice President within its Energy and Marine Group. With a background spanning all facets of the marine business, the ...and more »
  

• NextGxDx marks 'milestone' with first insurance client - The Tennessean

  05-04-2016 14:01
  NextGxDx marks 'milestone' with first insurance client
  The Tennessean
  NextGxDx has signed its first health insurance client, which expands its presence across the spectrum of health systems, genetic testing labs and payers. The contract under its new GenePayer product is "a very significant milestone" for the 5-year-old ...and more »
  

• 5 ways to reduce employee theft

  05-04-2016 13:45
  
  If your employees think you are keeping an eye on them, they are less likely to take things that don’t belong to them.
  
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• Forensic restoration claims: What you don’t know could kill you

  05-04-2016 13:15
  The business of cleaning up after death requires special training and care
  
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• Moving soon? Here are 5 things to think about

  05-04-2016 13:00
  
  A new home or apartment can affect multiple insurance coverages.
  
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• S&P: Two-Thirds of Insurance M&As Fail to Improve Financial Strength - Insurance Journal

  05-04-2016 12:42
  Business Insurance
  S&P: Two-Thirds of Insurance M&As Fail to Improve Financial Strength
  Insurance Journal
  The flurry of insurance mergers and acquisitions that yielded about $150 billion of transactions globally in 2015 may endure even after years of “patchy” results for some companies making deals, according to ratings firm Standard & Poor's. “We believe ...
  S&P lukewarm on prospects for continued insurer mergersBusiness Insuranceall 5 news articles &raqu
  

• S&P: Two-Thirds of Insurance M&As Fail to Improve Financial Strength

  05-04-2016 12:39
  
  The flurry of insurance mergers and acquisitions that yielded about $150 billion of transactions globally in 2015 may endure even after years of “patchy” results for some companies making deals, according to ratings firm Standard & Poor’s. “We believe the …
  
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• Retirement Advisor Fiduciary Rule Expected This Week

  05-04-2016 12:31
  
  The Obama administration will release a long-awaited proposal on retirement advice on Wednesday, according to a person familiar with the matter. At an event at the Center for American Progress think tank, the U.S. government will unveil its proposed rule …
  
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• Aon Benfield Launches Global Reinsurer Trading Platform with Real-Time Data

  05-04-2016 12:10
  
  Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, will launch on April 11 a global reinsurer trading platform called ABConnect Placements. Available for use with the July 1 renewals, ABConnect Placements will provide a more integrated, streamlined …
  
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• PIMCO Legal Filing Accuses ‘Bond King’ Gross of ‘Abusive’ Conduct

  05-04-2016 11:52
  
  Pacific Investment Management Co. said former bond manager Bill Gross’ abusive conduct and effort to sabotage colleagues he deemed disloyal gave it “good cause” to oust him, and not pay any of the more than $200 million of damages he …
  
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• AXA Completes Acquisition of Charter Ping An Insurance in Philippines

  05-04-2016 11:35
  
  AXA Philippines announced it has completed the acquisition of Charter Ping An Insurance Co. for €40 million ($45.6 million) from GT Capital. The acquisition of CPA, the fifth largest non-life insurer in the Philippines, enables AXA Philippines to offer property …
  
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• Transparency call on factory insurance - Irish Independent

  05-04-2016 11:29
  Irish Independent
  Transparency call on factory insurance
  Irish Independent
  Farmers are calling for more clarity as stark differences continue to emerge in insurances charges between meat factories across the country. Share. Facebook · Twitter · Google · Email. Go To. Comments. The ICSA said the processors should provide ...and more »
  

• Tens of thousands of Cobb residents lack health insurance - Atlanta Journal Constitution

  05-04-2016 10:55
  Atlanta Journal Constitution
  Tens of thousands of Cobb residents lack health insurance
  Atlanta Journal Constitution
  Want more news? Sign up for free newsletters to get more of the AJC delivered to your inbox. Roughly 134,000 Cobb County residents, about 21 percent, have no health insurance, recent data shows. The county of about 750,000 people falls in the middle of ...and more »
  

• Delta Lloyd Says It Didn’t Offer Incentives to Get Support for $738M Rights Offer

  05-04-2016 10:43
  
  Delta Lloyd NV said it didn’t offer any fees or “goodies” to Fubon Financial Holding Co., one of its largest shareholders, in exchange for support for a 650 million-euro ($738 million) rights offer. “Delta Lloyd has not granted any incentives …
  
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• Motoring group AA full-year earnings drop 3.3 percent, insurance hit - Reuters UK

  05-04-2016 09:38
  Motoring group AA full-year earnings drop 3.3 percent, insurance hit
  Reuters UK
  LONDON Motoring group AA (AAAA.L) reported a 3.3 percent drop in trading earnings for its financial year on Tuesday, partly due to a fall in contributions from the insurance business. AA provides roadside recovery and insurance broking services and ...
  UPDATE 1-Motoring group AA full-year earnings drop 3.3 pct, insurance hitReutersall 2 news articles »
  

• 10 Cheapest States for Car Insurance - Credit.com News (blog)

  05-04-2016 06:17
  Credit.com News (blog)
  10 Cheapest States for Car Insurance
  Credit.com News (blog)
  Car insurance can be really cheap or extremely expensive, and sometimes, it can seem like one small thing can make a huge difference in how much your premiums cost. There are the obvious factors, like your driving record and the value of the car you ...and more »
  

• Family of Man Killed by South Carolina Officer Settles Suit for $2.15M

  05-04-2016 06:14
  
  The family of a 19-year-old man who was fatally shot by a South Carolina police officer last year has settled its wrongful death lawsuit against the city of Seneca for $2.15 million. The settlement, nearly 10 times higher than a …
  
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• Augusta, Georgia Approves Drone Ban Over Crowds

  05-04-2016 06:01
  
  Augusta, Ga., has approved one of the region’s first local drone laws, which bans the unmanned aircraft from flying in areas where 100 or more people might gather. Officials with the Association County Commissioners of Georgia and the Georgia Municipal …
  
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• Florida Arrests 10 in Undercover Workers’ Comp Sting

  05-04-2016 05:57
  
  The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) announced 10 arrests following a multi-agency undercover workers’ compensation sting in Manatee County. According to a statement from DIF, the 10 individuals allegedly advertised their ability to perform wide-ranging …
  
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• Player in international tax evasion scheme part of Ethan Allen insurance scam - Albany Times Union

  05-04-2016 03:58
  Albany Times Union
  Player in international tax evasion scheme part of Ethan Allen insurance scam
  Albany Times Union
  Salvage divers and State Police divers work in Lake George as the tour ship Ethan Allen is raised from 70' below surface of the lake on Oct. 3, 2005, in Lake George N.Y. (Skip Dickstein/Times Union archive). Salvage divers and State Police divers work ...and more »
  

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