Insurance news

• An Insurance Exodus From Obamacare Could Come in 2017 - Daily Signal

  03-05-2016 23:50 via dailysignal.com
  
  Daily Signal
  An Insurance Exodus From Obamacare Could Come in 2017
  Daily Signal
  Starting in 2017, insurers will need to charge premiums for exchange plans that are high enough to cover their costs without subsidies. (Photo: Paul Hennessy/Polaris/Newscom). UnitedHealthcare's decisions to not offer Affordable Care Act exchange plans ...
  
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• Iowa insurance division files lawsuit against federal government - The Gazette: Eastern Iowa Breaking News and Headlines

  03-05-2016 23:33 via thegazette.com
  
  Iowa insurance division files lawsuit against federal government
  The Gazette: Eastern Iowa Breaking News and Headlines
  Iowa's insurance commissioner filed a lawsuit against the federal government on Tuesday, saying it is withholding $20 million in connection with the liquidation of not-for-profit insurer CoOportunity Health — which failed in December 2014. “Through ...and more »
  
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• Japan-to-U.S. Insurance M&A Wave Not Over Yet, Bankers Say - Bloomberg

  03-05-2016 23:32 via bloomberg.com
  Japan-to-U.S. Insurance M&A Wave Not Over Yet, Bankers Say
  Bloomberg
  Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn't over yet, industry dealmakers said Tuesday. Japan has a number of large, healthy insurers facing dim growth prospects at home, a ...and more »
  
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• Why are earthquake insurance rates on the rise in Oklahoma? - kfor.com

  03-05-2016 23:30 via kfor.com
  
  kfor.com
  Why are earthquake insurance rates on the rise in Oklahoma?
  kfor.com
  OKLAHOMA CITY - Earthquake insurance rates are on the rise but so are the number of higher magnitude quakes in the state. In the past couple of weeks, several quakes that were magnitude three and higher have rattled Luther, Harrah, Perry and Fairview.
  
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• Fiat Chrysler to grow Google's test fleet with self-driving minivans

  03-05-2016 23:29
  
  Fiat Chrysler and Alphabet Inc.’s Google plan to develop about 100 self-driving prototypes based on the carmaker’s Pacifica minivan.
  
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• Moda leaves another individual insurance market - Portland Business Journal (blog)

  03-05-2016 22:58 via bizjournals.com
  Portland Business Journal (blog)
  Moda leaves another individual insurance market
  Portland Business Journal (blog)
  The insurer, which just last Friday announced it had raised $165 million in needed capital by selling a handful of properties, revealed Tuesday it would not offer health insurance in Alaska's individual market starting next year. Current and new ...and more »
  
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• How Your Relatives' Health Affects Your Life Insurance Rates - NerdWallet (blog)

  03-05-2016 22:39 via nerdwallet.com
  
  How Your Relatives' Health Affects Your Life Insurance Rates
  NerdWallet (blog)
  You probably know your health will affect prices when you shop for life insurance coverage. What you might not realize is that your family's health history can also influence your rates. Life insurers consider your parents' and sometimes your siblings ...
  
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• High Flying Insurance Agent Could Not Stop IRS Jeopardy With Let's Make A Deal - Forbes

  03-05-2016 22:31 via forbes.com
  
  Forbes
  High Flying Insurance Agent Could Not Stop IRS Jeopardy With Let's Make A Deal
  Forbes
  If you have a large deficiency with the IRS, it might occur to you to stave off them coming to grab your assets by telling them about a great plan you have to pay them off over time. I'm not saying it won't work, but it didn't work for Michael D. Brown ...and more »
  
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• USI Insurance Services acquires benefits specialty agency - Business Insurance

  03-05-2016 22:07 via businessinsurance.com
  USI Insurance Services acquires benefits specialty agency
  Business Insurance
  USI Insurance Services L.L.C. said on Tuesday that it has acquired Plymouth, Minnesota-based Hanratty & Associates Inc. The terms of the transaction were not disclosed. Hanratty & Associates is an insurance agency that provides employee benefits ...and more »
  
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• Greenpath in California Names Nicholson Marketing Director

  03-05-2016 21:53
  
  Tyler Nicholson has joined Rancho Cordova, Calif.-based Greenpath Insurance Co. as the director of marketing. Nicholson has more than 10 years of sales and marketing experience. He was previously with FSC. Greenpath’s specialties include the non-standard auto insurance market.
  
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• Fuhrman Joins Marsh in California as West Zone Leader

  03-05-2016 21:48
  
  Marsh has named David Fuhrman to lead its West zone effective immediately. He will be based in Marsh’s Los Angeles, Calif. office, and will report to Rob Bentley, president of Marsh’s U.S. and Canada division. Marsh also announced that John Fuhrman …
  
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• Are insurance companies finally waking up to the oral-systemic link? - Dentistry IQ

  03-05-2016 21:43 via dentistryiq.com
  Dentistry IQ
  Are insurance companies finally waking up to the oral-systemic link?
  Dentistry IQ
  Lack of treatment acceptance due to dental insurance coverage is a huge obstacle to care. Now, as the oral-systemic link goes mainstream, some insurance companies are changing their products to promote prevention. One of the challenges we face as oral ...and more »
  
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• Most commercial rates decreased in first quarter - Business Insurance

  03-05-2016 21:11 via businessinsurance.com
  Business Insurance
  Most commercial rates decreased in first quarter
  Business Insurance
  Commercial insurance rates continued to drop in the first quarter of 2016, according to a survey released Tuesday by the Washington-based Council of Insurance Agents & Brokers. The CIAB's quarterly “Commercial P/C Index Survey” found that rates ...and more »
  
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• Why pet insurance is vital to prevent owners being bitten by a huge vet's bill - Mirror.co.uk

  03-05-2016 20:26 via mirror.co.uk
  
  Mirror.co.uk
  Why pet insurance is vital to prevent owners being bitten by a huge vet's bill
  Mirror.co.uk
  Dog owners risk an average bill of £500 if their pooch falls ill but some could face costs running into thousands of pounds. New claims data from Direct Line Pet Insurance reveals the steep cost of owning a dog as vet bills soar. The top 10 most common ...and more »
  
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• Lawsuit targets Baton Rouge man over life insurance payout after business partner killed ex-LSU teacher, himself - The Advocate

  03-05-2016 19:37 via theadvocate.com
  
  Lawsuit targets Baton Rouge man over life insurance payout after business partner killed ex-LSU teacher, himself
  The Advocate
  A lawsuit claims a Baton Rouge man improperly collected a $500,000 payout from his business partner's life insurance policy after the partner gunned down his estranged wife and shot and killed himself in Connecticut last year. A federal judge on Monday ...and more »
  
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• Rolls-Royce Settles Fatal Alabama Helicopter Crash for $8M

  03-05-2016 18:57
  
  The family of a man killed in a 2010 helicopter accident in Fort Rucker, Alabama, has reached an $8.5 million settlement with two companies. The Dothan Eagle reports that Rolls-Royce Corporation, which was responsible for inspecting the helicopter, will pay …
  
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• Chinese public warned over online 'quasi-insurance' firms - South China Morning Post

  03-05-2016 18:21 via scmp.com
  
  South China Morning Post
  Chinese public warned over online 'quasi-insurance' firms
  South China Morning Post
  Regulators have warned the mainland public against investing in insurance-style schemes run by unregistered online firms. The insurance watchdog referred to Shanghai-based Quark Alliance as an example, saying it was not a registered mutual insurer and ...
  
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• MetLife faces record fine for misleading annuity customers

  03-05-2016 18:19
  
  MetLife Inc. agreed to pay $25 million to settle a probe of abuses tied to variable annuities, the highest-ever penalty for those products by the Financial Industry Regulatory Authority.
  
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• Alliant Hires Feinberg as Executive VP of Real Estate Group in Boston

  03-05-2016 18:07
  
  Alliant Insurance Services, a specialty insurance brokerage based in Newport Beach, California, has hired Michael G. Feinberg as executive vice president of its Real Estate Group. Based in Boston, Feinberg will deliver risk management and insurance services to clients throughout …
  
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• USI Insurance Services Acquires Hanratty & Associatesin Minnesota

  03-05-2016 18:05
  
  USI Insurance Services (USI) has acquired Hanratty & Associates Inc., headquartered in Plymouth, Minn. Hanratty & Associates has been providing employee benefits and consulting for nearly 40 years. The employees will remain at the company’s current Plymouth location. Terms of …
  
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• USI Insurance Services Acquires Hanratty & Associates in Minnesota

  03-05-2016 18:05
  
  USI Insurance Services (USI) has acquired Hanratty & Associates Inc., headquartered in Plymouth, Minn. Hanratty & Associates has been providing employee benefits and consulting for nearly 40 years. The employees will remain at the company’s current Plymouth location. Terms of …
  
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• Indiana Agency Exec Named Chairman of Associated Risk Managers International

  03-05-2016 18:02
  
  Independent insurance agency network, Associated Risk Managers International Inc. (ARMI), have elected Greg Easley to serve as chairman of the ARMI board of directors. Easley currently serves as vice president and corporate secretary of RMD/Patti Insurance Agency & Financial Services, …
  
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• 7 Ways To Save Money on Your Home Insurance - Popular Mechanics

  03-05-2016 18:00 via popularmechanics.com
  
  Popular Mechanics
  7 Ways To Save Money on Your Home Insurance
  Popular Mechanics
  We spoke with Pete Ducich of Farmers Insurance about ways to save on your rates and make sure you're properly covered in case you need to file a claim. Here are his money-saving tips: 1. Raise Your Deductible. A $500 deductable is commonplace for ...
  
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• Public, Private Insurers Picking Up More of Opioid Drug Costs

  03-05-2016 17:49
  
  According to a study released by Centers for Disease Control (CDC), consumer out-of-pocket spending on opioids has declined, with insurers picking up more of the tab. The study found that consumer out-of-pocket spending on opioids per 100 morphine milligram equivalents …
  
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• Arthur J. Gallagher Acquires Arkansas Agency, Hagan Newkirk

  03-05-2016 17:49
  
  Arthur J. Gallagher & Co.  has acquired Hagan Newkirk Financial Services in Little Rock, Ark.  Terms of the transaction were not disclosed. With operations dating back to the 1960s, Hagan Newkirk Financial Services (Hagan Newkirk) is a retail insurance broker offering employee benefit consultation …
  
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• Global Risk Partners Funds Acquisition of McGrady Ltd. in Northern Island

  03-05-2016 17:48
  
  Global Risk Partners Ltd. (GRP), the London-based insurance broking and managing general agent investment vehicle, has completed its second transaction in Northern Ireland by funding the acquisition of McGrady Ltd. by Abbey Bond Lovis Ltd. (ABL), a GRP subsidiary. In …
  
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• Teens Ejected from Carnival Ride in Texas; 1 Killed, 1 Hurt

  03-05-2016 17:42
  
  One teenage girl was killed and another was injured when they were ejected from a whirling ride at an El Paso church carnival. The girls were at a parking lot carnival marking the annual Dia de los Ninos holiday at …
  
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• The Hartford: St. Louis Small Businesses Seek Significant Growth

  03-05-2016 17:38
  
  The Hartford says a recent survey shows that St. Louis small business owners are looking for significant growth this year. According to The Hartford’s 2015 Small Business Success Study, 56 percent of St. Louis owners are looking to grow significantly, which includes …
  
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• Starr Companies Hires Bass as South Central Regional VP

  03-05-2016 17:36
  
  Starr Companies has appointed Brian Bass as regional vice president for the South Central Region (Texas). Bass will be located in Starr’s Dallas office, where he will be responsible for the field leadership in the Southwest. Bass has been in …
  
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• Exxon Mobil Pays $2.63M Fine for Arkansas Pipeline Spill

  03-05-2016 17:33
  
  Exxon Mobil has paid a $2.63 million fine more than three years after its Pegasus pipeline ruptured and spilled thousands of gallons of crude into a Mayflower neighborhood. Pipeline and Hazardous Materials Safety Administration spokesman Damon Hill tells the Arkansas …
  
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• AIG Pursues $4.1B from Hedge Funds After Q1 Loss

  03-05-2016 17:31
  
  American International Group Inc., the insurer burned by losses on hedge funds, has submitted notices of redemption for $4.1 billion of those holdings through the end of the first quarter. “As of today, we have received $1.2 billion of proceeds …
  
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• FM Global’s Clients to Receive $465M Membership Credit

  03-05-2016 17:26
  
  Johnston, Rhode Island-based commercial and industrial property insurer FM Global said its clients will collectively receive an estimated $465 million in premium credit when they renew their policies between June 30, 2016, and June 29, 2017. FM Global said the …
  
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• Beecher Carlson Taps Rammy Streit and Robert Streit in California

  03-05-2016 17:25
  
  Beecher Carlson Insurance Services LLC has hired Rammy Streit and Robert Streit in its California offices. The two will work out of the Woodland Hills and Orange County, Calif. offices and report to Kevin Maloy, executive managing director and national …
  
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• Colorado’s High Court Holds State Law over Local Fracking Bans

  03-05-2016 17:09
  
  The Colorado Supreme Court has blocked a push to limit oil and gas development near people. The state ruled that the power to promote industry trumps local bans, which the court deemed “invalid and unenforceable,” the Denver Post reported. The court …
  
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• Aegon to Acquire BlackRock’s U.K. Defined-Contribution Pension Business

  03-05-2016 17:09
  
  Aegon NV agreed to buy BlackRock Inc.’s U.K. defined-contribution pension business to bolster its position in the country’s workplace-savings market. The deal will transfer 12 billion pounds ($17.6 billion) of assets under management and 350,000 customers to the Hague-based company, …
  
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• New York Prison Guard Accused of Workers’ Comp Fraud

  03-05-2016 17:08
  
  New York’s inspector general says a state prison guard has been charged with fraud and grand larceny, accused of stealing more than $38,000 in sick leave and workers’ compensation benefits by falsifying medical records. Inspector General Catherine Leahy Scott says …
  
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• Geico to Hire More Than 100 New Associates in New York

  03-05-2016 17:06
  
  Geico said it plans to hire more than 100 new associates in its Buffalo, New York, office for additional positions in claims, sales and service. Geico, the largest auto insurer in New York State, said its policyholder base continues to …
  
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• Insurance Exec Slattery Joins Driveway Team in California

  03-05-2016 16:57
  
  Mobile telematics company Driveway Software Inc. in California’s Silicon Valley has named Mike Slattery executive vice president of product and operations. Slattery has a background in developing and launching UBI products. Slattery developed and launched Safeco’s Teensurance, a telematics based …
  
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• Cheerleader Uniform Case Tests Copyright Protection for Designs

  03-05-2016 16:56
  
  The U.S. Supreme Court agreed to use a clash between rival makers of cheerleading outfits to clarify the scope of federal copyright protection for pictures and graphic designs. The justices on Monday said they will hear an appeal from Star …
  
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• HUB Acquires Assets of First Santa Fe Insurance Services in New Mexico

  03-05-2016 16:47
  
  Hub International Ltd. has acquired the assets of New Mexico-based First Santa Fe Insurance Services Inc. Terms of the deal were not disclosed. First Santa Fe’s operations will become a part of Hub New Mexico and be led by Randy …
  
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• Propel Insurance Hires McCormick in Washington for Construction Practice

  03-05-2016 16:41
  
  Propel Insurance has named Michael McCormick a sales executive in the firm’s construction practice. McCormick will be working out of Propel’s Seattle, Wash. location. His prior experience includes sales at Kibble & Prentice. He also spent time at Hub Northwest …
  
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• Two wins expected from driverless cars, fewer accidents and lower insurance bills - Digital Trends

  03-05-2016 16:28 via digitaltrends.com
  
  Digital Trends
  Two wins expected from driverless cars, fewer accidents and lower insurance bills
  Digital Trends
  The great promise of driverless cars is improved safety. With this laudable advantage comes another, less-expected benefit that might help you pay for a connected car: Car insurance premiums will be lower. Insurance companies might not be too crazy ...and more »
  
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• AIG Q1 Net Loss of $183M Tied to Hedge Funds, Energy Investments

  03-05-2016 16:04
  
  American International Group Inc., the insurer that’s shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the value of other investments. The first-quarter net loss of $183 million, or 16 …
  
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• Kentucky Bans Large Commercial Trucks from State Route After Accidents

  03-05-2016 16:03
  
  Kentucky Transportation Cabinet Secretary Greg Thomas issued an order temporarily banning large commercial trucks from traveling on state Route 151 after a series of crashes there. Thomas’ action comes after the Federal Highway Administration authorized the cabinet to delete the …
  
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• Commercial Auto Insurance Remains a Loser on the Whole: Fitch

  03-05-2016 15:49
  
  While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015. In short, U.S. commercial auto insurance has evolved into …
  
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• What Are Risky Drivers Thinking?

  03-05-2016 15:05
  
    Road crashes are the world’s leading cause of preventable death and injury in people under 35, accounting for 5 million casualties every year. Repeat offenders make a disproportionate contribution to these statistics – and are known for their poor …
  
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• Couple arrested on Workers' Comp insurance premium fraud charges

  03-05-2016 14:45
  
  State investigators say California trucking company owners lied to their Workers' Comp carrier about the number of truck drivers they employed.
  
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• Ex-AIG Executive Johnston to Succeed Duclos as CEO for QBE North America

  03-05-2016 14:33
  
  A former AIG executive is joining QBE to become CEO of its North American operations. Russell Johnston will succeed David Duclos in the role of QBE CEO for its North American operation starting on May 31, and be based in New York. …
  
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• Buffett Downplays Succession Speculation In Wake of Jain Assuming General Re Role

  03-05-2016 14:16
  
  Among the insurance-related highlights of Berkshire Hathaway’s annual meeting in Omaha, Neb. was Warren Buffett’s answer to a question about succession planning for subsidiaries. “There are no tea leaves to read in the fact that Ajit [Jain] is supervising Gen …
  
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• 5 reasons why cold calling should die a fast death

  03-05-2016 13:45
  
  We've read the pros, cons and how-tos about cold calling, but should this practice completely disappear?
  
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