Insurance news

• New Hampshire Offers Lost Life Policy Locator Service to Residents

  29-04-2016 21:19
  
  The New Hampshire Insurance Department has created a lost life policy locator service to assist Granite State residents and their families in locating life policies and annuity contracts that have been purchased in the state. “We developed this service to …
  
  Read more

• Virginia Reminds Insurers: Rates, Rating Rules Must Be Cost-Based

  29-04-2016 21:09
  
  Virginia Insurance Commissioner Jacqueline Cunningham has issued an administrative letter this month reminding insurers to review the rate standards outlined in Virginia Code § 38.2-1904 to ensure compliance. The administrative letter also indicates that so-called “price optimization” techniques that raise …
  
  Read more

• People on the move in the P&C insurance industry: April 29, 2016

  29-04-2016 19:30
  
  News from Aspen, AmWins, Verisk and more.
  
  Read more

• New York: Health Insurers Must Pay for Maternal Depression Screening

  29-04-2016 18:58
  
  New York state will soon require health insurers to cover depression screening for pregnant women and new mothers. The move follows a recommendation from a federal panel that insurers cover maternal depression screening without a co-pay or deductible. Gov. Andrew …
  
  Read more

• Advertisement

• Kinsale Insurance Hires Manahan to Lead E&S Property in Virginia

  29-04-2016 18:55
  
  Kinsale Insurance Company, a domestic excess and surplus lines insurance company based in Richmond, Virginia, has hired Stephen Manahan as senior vice president of Excess & Surplus Lines Property. In his new role, Manahan will be responsible for the continued …
  
  Read more

• Texas Mutual Awards $600K in College Education Grants

  29-04-2016 18:48
  
  Texas Mutual Insurance Co. announced it has awarded a combined $600,000 in grants to College of the Mainland in Texas City, Del Mar College in Corpus Christi, El Paso Community College, Kilgore College, Midland College and Amarillo College. The grants …
  
  Read more

• NFL insurers can begin gathering evidence in concussion case

  29-04-2016 18:45
  
  National Football League insurers were cleared to begin gathering evidence in their effort to avoid having to pay for the league’s defense of concussion lawsuits filed by former players.
  
  Read more

• Alaska Assisted Living Home Faces $75K Fine for Workplace Death

  29-04-2016 18:42
  
  State labor officials have fined an Anchorage assisted living home $75,000 for alleged safety and health violations in the death of a caregiver who was killed by a resident of the home. The Alaska Department of Labor and Workforce Development …
  
  Read more

• Advertisement

• Chicago Jury Awards $22.7M to Widow for Work Zone Crash that Killed Spouse

  29-04-2016 18:40
  
  The widow of a motorist who was killed when a speeding truck slammed into his car while he was stopped in an Illinois construction zone has been awarded $22.7 million. Theresa Swenson sued Missouri-based Hussmann Corp. for the May 2012 …
  
  Read more

• Illinois Volunteer Firefighter Accused of Starting Fires with Cigarettes

  29-04-2016 18:34
  
  A 20-year-old northern Illinois volunteer firefighter accused of starting five fires allegedly tossed lit cigarettes to spark at least two of the blazes, according to court documents. Kenneth Grabow of Orangeville was scheduled to appear in court on April 28 …
  
  Read more

• Police in Nevada Ticket 75 Distracted Drivers During 3-Week Blitz

  29-04-2016 18:31
  
  Henderson, Nev., police say officers looking for distracted drivers during a three-week enforcement blitz ticketed 75 motorists for infractions like texting, checking emails, accessing the Internet or talking on cellphones. Police spokeswoman Kathleen Richards says officers reported making 605 traffic …
  
  Read more

• $1M Settlement Reached with Building Owners in Fatal Illinois Apartment Fire

  29-04-2016 18:28
  
  Relatives of six people who perished five years ago in an apartment building fire in suburban Chicago have reached a $1 million legal settlement. Surviving family members sued the building owners, claiming they did not supply smoke detectors, fire escapes …
  
  Read more

• Oklahoma Ex-Reserve Deputy, Insurance Exec Convicted in Suspect’s Death

  29-04-2016 18:26
  
  A former Oklahoma volunteer sheriff’s deputy who said he mistook his handgun for his stun gun when he fatally shot an unarmed suspect last year has been convicted of second-degree manslaughter. Jurors handed down the verdict in the case of …
  
  Read more

• Houston Bakery to Pay $1M to Settle Race, National Origin Discrimination Suit

  29-04-2016 18:23
  
  A large bakery in Houston will pay $1,042,000 as part of the settlement of a class race and national origin discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. The EEOC had charged that Lawler …
  
  Read more

• Aon Reports 4% Drop in Q1 2016 Net Income to $315 Million

  29-04-2016 18:22
  
  London-based Aon plc reported net income attributable to Aon shareholders of $315 million, or $1.15 per share, during the first quarter ending March 31, which is down 4 percent from $328 million, or $1.14 per share, from the same period …
  
  Read more

• Florida Picks Deputy Altmaier to Be Next Insurance Commissioner

  29-04-2016 18:04
  
  The Florida Cabinet has selected David Almaier to be the state’s new insurance commissioner. Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin McCarty, who is stepping down after 13 years …
  
  Read more

• Vermont Mutual Promotes McDonnell to Executive VP, COO

  29-04-2016 18:01
  
  Vermont Mutual Insurance Group has promoted Mark J. McDonnell to executive vice president and chief operating officer of the Group. McDonnell is an industry veteran with 30 years of property/casualty experience. He has been serving as senior vice president at …
  
  Read more

• Top 20 undergraduate business schools for 2016

  29-04-2016 18:00
  
  Internship placement and starting salaries for graduates are two factors that contribute to the rankings.
  
  Read more

• Virginia Sets Up Fund to Cope With Sea-Level Rise

  29-04-2016 17:57
  
  Virginia has set up a new revolving loan fund designed to help property owners prepare for rising sea levels. But the Virginian-Pilot reports that the fund has no funds and may not have any money for several years. Still, Virginia …
  
  Read more

• Delaware Fines Insurers $83K for Market Misconduct

  29-04-2016 17:55
  
  The Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 for violating state insurance regulations. Fines generally result from a market conduct examination of a company’s practices performed by …
  
  Read more

• Swiss Re profit declines as company increases its reserves

  29-04-2016 17:21
  
  Swiss Re AG, the world’s biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the industry remained under pressure.
  
  Read more

• Florida’s Universal Insurance Holdings Raises $10M in Share Sale

  29-04-2016 16:56
  
  Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. Universal said it sold 583,771 shares of common stock to  RenaissanceRe Ventures Ltd., a subsidiary of RenaissanceRe Holdings Ltd. …
  
  Read more

• Fire Department upgrade means lower insurance rates - CT Post

  29-04-2016 16:38 via ctpost.com
  
  Fire Department upgrade means lower insurance rates
  CT Post
  Construction workers on the scene of a fatal construction accident at Sikorsky Airport in Stratford, Conn. on Thursday, June 25, 2015. According to fire officials, a worker was killed when a saw kicked back , causing a fatal injury to the man's neck. less.
  
  Read more

• Travel Insurance to Protect Your Vacation - Kiplinger Personal Finance

  29-04-2016 16:19 via kiplinger.com
  
  Kiplinger Personal Finance
  Travel Insurance to Protect Your Vacation
  Kiplinger Personal Finance
  A comprehensive travel insurance policy covers all sorts of problems that might derail your trip. But mind the gaps. By Miriam CrossSee my bio, plus links to all my recent stories., From Kiplinger's Personal Finance, June 2016. Follow @miriamscross.
  First-class insurance the best way to ensure a safe holidayIrish Independentall 2 news articles »
  
  Read more

• Florida Braces for Rate Hikes, Litigation Due to Workers’ Compensation Fee Ruling

  29-04-2016 16:15
  
  The Florida Supreme Court’s ruling that the state’s current attorney fee limits are unconstitutional will have serious ramifications on the workers’ compensation market in the state, according to Florida Insurance Commissioner Kevin McCarty and other workers’ compensation experts. Those ramifications …
  
  Read more

• West Virginia Doctor Gets 8 Years in Drug, Health Care Fraud Case

  29-04-2016 16:05
  
  A pain clinic doctor in Beckley, West Virginia, has been sentenced to eight years in federal prison for illegally prescribing a controlled substance and submitting false health care claims. Dr. Jose Gordinho was sentenced Wednesday in federal court in Beckley. …
  
  Read more

• Alabama Medical Marijuana Bill Headed to Governor

  29-04-2016 16:01
  
  The Alabama legislature on Wednesday voted to decriminalize medicinal marijuana oil possession. In a 95-4 vote in the House of Representatives and a 29-3 vote in the Senate, legislators supported a bill supporters say is a bid to help families …
  
  Read more

• The Hartford Profit Fell 30% in Q1 Due to Higher Auto Losses, Lower Investment Income

  29-04-2016 15:57
  
  The Hartford reported disappointing personal lines result for the first quarter of the year, which along with decreased investment income contributed to a 31 percent drop in profit for the quarter. First quarter 2016 net income totaled $323 million, down …
  
  Read more

• Hackers in Bangladesh Bank Cyber Heist Pocketed About $70M; NY Fed Criticized

  29-04-2016 15:27
  
  Hackers are likely to get away with about $70 million of Bangladesh’s foreign reserves after a brazen cyber-attack against the South Asian nation, according to Finance Minister Abul Maal Abdul Muhith. The Philippines — where most of the funds ended …
  
  Read more

• QBE North America Promotes Burkhart to Head of Specialty Management, Professional Liability

  29-04-2016 15:23
  
  QBE North America has promoted John Burkhart to senior vice president and head of Management Liability & Professional Lines (MLPL). In this newly created role, Burkhart will assume responsibility for QBE North America‘s entire Specialty MLPL portfolio, which includes its …
  
  Read more

• Myles Jack will collect on insurance policy if he falls to 45th pick - ESPN

  29-04-2016 15:13 via espn.go.com
  
  ESPN
  Myles Jack will collect on insurance policy if he falls to 45th pick
  ESPN
  Two players who slipped past the first round on Thursday could benefit from insurance policies they took out while still in college. Former UCLA linebacker Myles Jack has a $5 million loss of value policy. When his mother took it out two years ago ...
  Myles Jack's worst draft fears came true (with insurance caveat)New York Postall 125 news articles »
  
  Read more

• Does your homeowners insurance fully cover you for these seven common claims? - CNBC

  29-04-2016 15:05 via cnbc.com
  
  CNBC
  Does your homeowners insurance fully cover you for these seven common claims?
  CNBC
  Roughly 5 percent of insured homeowners filed a claim in 2014 (the latest year available), according to data from ISO, a division of Verisk Analytics. The average claim: $10,750. "From a coverage perspective, it's very important to make sure they're ...
  
  Read more

• How Model for Preventing Workers’ Chronic Pain Claims Was Born

  29-04-2016 15:04
  
  In response to rising chronic pain claims, Travelers announced the development of a new patent-pending predictive model designed to identify claims and workers most at risk. The company, which developed the Early Severity Predictor (ESP) program, manages more than 250,000 …
  
  Read more

• Large Insurers Eager But Cautious About Drone Insurance Market - Insurance Journal

  29-04-2016 15:00 via insurancejournal.com
  
  Large Insurers Eager But Cautious About Drone Insurance Market
  Insurance Journal
  A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone use. However, many insurers currently are proceeding with caution in light of uncertainty about how the drones ...
  
  Read more

• Large Insurers Eager But Cautious About Drone Insurance Market

  29-04-2016 15:00
  
  A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone use. However, many insurers currently are proceeding with caution in light of uncertainty about how the drones will be used …
  
  Read more

• Young Consumers More Trusting of Autonomous Vehicles: J.D. Power

  29-04-2016 14:07
  
  Trust in automation technology including driverless cars is very much age dependent, as younger consumers have a notably higher level of confidence in the technology than their older counterparts, according to the J.D. Power 2016 U.S. Tech Choice Study. While …
  
  Read more

• Millennials overtake baby boomers

  29-04-2016 13:30
  
  The millennials are taking over! The millennials are taking over!
  
  Read more

• Insurance Company Now Offers Cyberbullying Coverage - NBCNews.com

  29-04-2016 13:15 via nbcnews.com
  
  NBCNews.com
  Insurance Company Now Offers Cyberbullying Coverage
  NBCNews.com
  Insurance giant Chubb recently began offering optional cyber bullying coverage for its homeowners insurance clients. Anyone who has had embarrassing photos posted on social media or been deluged with angry messages can attest to the high emotional ...and more »
  
  Read more

• Can specialty insurance programs continue to rapidly grow?

  29-04-2016 13:15
  
  Over the past five years, revenues from specialty program business nearly doubled. Here's how the business can evolve.
  
  Read more

• 10 helpful free mobile apps for agents and brokers

  29-04-2016 13:00
  
  Here our some of our favorite mobile apps for insurance agents and brokers on the go.
  
  Read more

• HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics

  29-04-2016 12:12
  
  The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced the introduction of TechAdvantage™, its new standard equipment breakdown policy. The company said it is the first equipment breakdown insurance product covering undetectable physical damage …
  
  Read more

• Zurich Canada Appoints Healey as Sr. VP, Distribution & Regional Management

  29-04-2016 11:49
  
  Zurich Canada has appointed Patrick Healey as senior vice president, Distribution and Regional Management. Healey will be responsible for leading and managing broker relationships and supporting market-facing underwriting colleagues towards the goal of continuing to make Zurich more customer focused, …
  
  Read more

• Swiss Re Q1 Net Income Down 15% to $1.23B; New Head of Reinsurance Named

  29-04-2016 11:08
  
  Swiss Re AG, the world’s biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the industry remained under pressure. Net income dropped to $1.23 billion from $1.44 billion a year earlier, the Zurich-based …
  
  Read more

• Why People Overestimate the Risk of Black Swan Events

  29-04-2016 09:00
  
  In his 2007 book “The Black Swan: The Impact of the Highly Improbable,” finance writer Nassim Nicholas Taleb attempted to educate the public about the danger of rare, unusual events. This is obviously important in the world of finance — …
  
  Read more

• FBD says insurance hikes needed to return industry to profit - Irish Times

  29-04-2016 08:17 via irishtimes.com
  
  Agriland
  FBD says insurance hikes needed to return industry to profit
  Irish Times
  FBD said increases in Irish insurance costs so far this year are necessary to return the beleagured industry to profit. Irish motor insurance costs rose almost 4 per cent on the month in March and over 32 per cent compared with the same period last ...
  FBD Chairman says insurance rates will continue to rise this yearAgrilandall 6 news articles »
  
  Read more

• Lockton Benefit Group Adds Leopold as Chief Medical Officer

  29-04-2016 07:42
  
  Lockton Benefit Group, based in Kanas City, Mo., has added Dr. Ronald S. Leopold to its national Lockton Health Risk Solutions practice. As leader of the practice, Dr. Leopold will combine his clinical knowledge with Lockton’s proprietary InfoLock data intelligence platform to improve …
  
  Read more

• How to File a Fire Insurance Claim - Economic Times

  29-04-2016 07:14 via economictimes.indiatimes.com
  
  How to File a Fire Insurance Claim
  Economic Times
  By Kapil Mehta A fire entails not just tremendous physical and financial damage, but also a fair amount of emotional and mental trauma. Nobody expects a fire, so it's important to be prepared for how to deal with one, if it ever does occur. The ...and more »
  
  Read more

• Oklahoma Commissioner to Insurers: Pay Roof Repairs that Meet Building Codes

  29-04-2016 07:06
  
  In the midst of storm season, the Oklahoma Insurance Department (OID) is reminding insurance companies to cover roof repairs that meet state or local building codes. OID issued a bulletin to insurers on April 25 after receiving multiple consumer complaints. …
  
  Read more

• Spike in long-term care insurance riles policy holders - Baltimore Business Journal

  29-04-2016 03:45 via bizjournals.com
  Spike in long-term care insurance riles policy holders
  Baltimore Business Journal
  Lynn Hollenbach was a pretty healthy 56-year-old in 2001, but wise enough to know that might not always be the case. He had heard about long-term care insurance, a type of private insurance that covers the at-home care and nursing home expenses that ...
  
  Read more

• Rural Malays Targeted as Islamic Insurance Forecasts 10% Growth - Bloomberg

  29-04-2016 02:36 via bloomberg.com
  Rural Malays Targeted as Islamic Insurance Forecasts 10% Growth
  Bloomberg
  Malaysia's Islamic insurance industry is set to double its growth rate this year as companies focus on selling cheaper policies in rural areas, according to the nation's takaful body. The number of policies will rise 10 percent to 5.05 million in 2016 ...
  
  Read more

Follow @Insurance_Newsl on Twitter!