Insurance news

• Uber Drivers’ Unpaid Mileage Expenses Total $730 Million, Lawyers Claim

  09-05-2016 23:38
  
  Drivers who worked for ride-hailing service Uber in California and Massachusetts over the past seven years would have been entitled to an estimated $730 million in expense reimbursements had they been employees rather than contractors, according to court documents made …
  
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• Personal Lines Insurance Prices Inched Up in April

  09-05-2016 20:00
  
  Auto and home insurance buyers in the U.S. paid slightly more for their insurance in April compared to the prior six months. It’s not clear whether a pricing trend is starting or catastrophe losses drove a temporary price change, according …
  
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• Alberta wildfires worse for Canada economy than Katrina for U.S.

  09-05-2016 19:10
  
  Intact Financial Corp. said it will post insured losses of as much as $850 million from the wildfires in Alberta, which may dent the Canadian economy harder than Hurricane Katrina hit the U.S.
  
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• Alberta fires worse for Canadian insurers than Katrina for U.S.

  09-05-2016 19:10
  
  Intact Financial Corp. said it will post insured losses of as much as $850 million from the wildfires in Alberta, which may dent the Canadian economy harder than Hurricane Katrina hit the U.S.
  
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• Former New Jersey Lawyer Gets 2 Years for Falsifying Asbestos Suits

  09-05-2016 18:58
  
  A former New Jersey lawyer has been sentenced to serve two years in federal prison after admitting he fraudulently added defendants to more than 100 asbestos lawsuits in New York. Federal prosecutors say Arobert Tonagbanua deleted the names of actual …
  
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• Cooler weather helps with Alberta wildfire as premier visits

  09-05-2016 18:55
  
  Cooler temperatures are helping fire fighters battle wildfires raging through Alberta as the blaze retreats from the country’s main oil-sands facilities around Fort McMurray.
  
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• Pennsylvania Officials: $11M Fine Against Uber Could Stunt Tech Growth

  09-05-2016 18:48
  
  Pennsylvania Gov. Tom Wolf and Pittsburgh-area officials want the state’s regulators to greatly reduce their record-setting $11.4 million fine against ride-sharing company Uber. The Public Utility Commission fined Uber last month for operating six months in 2014 without the required …
  
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• Hiscox Launches New US Flood Cover

  09-05-2016 18:13
  
  Hiscox London Market has launched a new flood product for U.S. homeowners — FloodPlus. Working with wholesale brokers in the US to distribute the new product, FloodPlus offers higher limits and a wider scope of cover than policies provided by …
  
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• South Dakota City Set to Observe Tornado Anniversary

  09-05-2016 18:05
  
  A full day of activities is planned in Delmont, S.D. on Tuesday to observe the one-year anniversary of the tornado that damaged the city. On the morning of May 10, 2015, an EF-2 tornado struck the city and damaged or …
  
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• Wisconsin Gun Shop Gets Sued by 2 More Wounded Officers

  09-05-2016 18:03
  
  A second lawsuit is set for trial against a U.S. gun shop after a jury in October found the store negligently sold a gun used to injure two Milwaukee police officers. The new case involves two different injured officers who …
  
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• World drone market seen nearing $127 billion in 2020, PwC says

  09-05-2016 18:01
  
  Drones will soon be boosting crop yields, verifying insurance claims, and assisting in future Hollywood blockbusters in a business that’s due to boom by more than 6,000% by the end of the decade.
  
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• Cancer Patient Sues Oklahoma Insurer over Proton Therapy Treatments

  09-05-2016 17:59
  
  A prostate cancer patient and a cancer treatment provider are suing an Oklahoma health insurer for allegedly refusing to cover proton radiation therapy. Randy Farland and the Procure Proton Therapy Center in Oklahoma City filed the lawsuit against Blue Cross …
  
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• Pilgrim’s Pride in Texas Expands its Recall of Cooked Chicken Products

  09-05-2016 17:56
  
  Pilgrim’s Pride in Waco, Texas is expanding a 5 million pound recall that federal food safety regulators say includes a variety of chicken products potentially contaminated with foreign materials. Friday’s announcement is the second expansion of a recall that began in April …
  
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• New Legal Document Reignites Debate About What Paterno Knew When

  09-05-2016 17:55
  
  A new legal document that claims a boy told Joe Paterno in 1976 that Jerry Sandusky had molested him has dropped like a bombshell and reignited debate about what the Penn State coach knew about his longtime assistant decades before …
  
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• NYS Insurance Fund Adds QR Code to Workers’ Comp Certificates

  09-05-2016 17:52
  
  The New York State Insurance Fund (NYSIF) is adding a new feature to its certificates of insurance. NYSIF said all NYSIF workers’ compensation certificates now include a QR (quick response) code, which can be scanned to instantly validate a certificate …
  
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• Disaster Declaration for 12 Arkansas Counties

  09-05-2016 17:51
  
  President Barack Obama has declared a disaster for a dozen Arkansas counties affected by severe weather in early March. The White House announced the disaster declaration Friday for Arkansas, Ashley, Bradley, Calhoun, Chicot, Cleveland, Columbia, Desha, Lincoln, Ouachita, Phillips, and …
  
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• $330K In Tornado Damage in Oklahoma County: Assessor

  09-05-2016 17:49
  
  The Oklahoma County Assessor’s Office says a tornado that hit parts of Oklahoma County last week caused more than $330,000 in damage. The assessor’s office said Friday that it surveyed damage at five properties. One home was destroyed, while the …
  
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• Republic of Tea in California Recalls Green Tea Due to Salmonella Fears

  09-05-2016 17:43
  
  The California-based company The Republic of Tea is recalling one of its green tea blends as a precaution over fears of possible salmonella contamination. The company said Monday that the voluntary recall of its Organic Turmeric Ginger Green Tea comes …
  
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• Utah Hunting Guide Files Suit Against Boy Scouts Following Reckless Shooting

  09-05-2016 17:41
  
  A Utah hunting guide is suing the Boy Scouts of America in federal court, claiming someone on a hunting trip he led in 2014 shot him in the eye. The Salt Lake Tribune reported that 61-year-old Craig Bingham filed a …
  
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• Lawsuit Takes Aim at Wyoming School District in Teacher Abuse Case

  09-05-2016 17:38
  
  A lawsuit accuses Cheyenne school officials of failing to stop a sixth-grade female teacher from sexually abusing a student over a two-year period even after they became aware of an inappropriate relationship. The lawsuit contends an “environment based upon preconceptions …
  
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• Damages from Lawsuits Against State Limited by Oregon Supreme Court

  09-05-2016 17:35
  
  The Oregon Supreme Court voted 5-2 to uphold a $3 million cap on damages injured people can collect in lawsuits against the state or its employees. The case was brought by a Klamath Falls couple who sued OHSU after a …
  
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• Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports

  09-05-2016 17:33
  
  While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …
  
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• Connecticut judge bars product liability claim after plaintiff's stair climber mishap

  09-05-2016 17:15
  
  Judge rules that the health club does not qualify as a "product seller" under state's product liability act.
  
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• FAA Creates Drone Advisory Panel, Lifts Barrier to Education

  09-05-2016 16:57
  
  The Federal Aviation Administration (FAA) is establishing a broad-based advisory committee to provide advice on key unmanned aircraft integration issues. Also, under a new policy, the agency will also make it easier for students to fly unmanned aircraft as part …
  
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• Allstate Feels Higher Catastrophe Losses, Lower Investments in Q1

  09-05-2016 15:05
  
  Catastrophe losses including those from two severe hailstorms left their mark on the Allstate Corp. in the first quarter, with net income during the period plunging more than 65 percent. Echoing trends from other property/casualty insurers, net investment income also …
  
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• Allstate Absorbed Higher Catastrophe Losses, Lower Investments in Q1

  09-05-2016 15:05
  
  Catastrophe losses including those from two severe hailstorms left their mark on the Allstate Corp. in the first quarter, with net income during the period plunging more than 65 percent. Echoing trends from other property/casualty insurers, net investment income also …
  
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• Cigna Cautions That Anthem Merger May Not Happen in 2016

  09-05-2016 14:43
  
  Cigna Corp.’s acquisition by health insurance rival Anthem Inc. may not be approved this year, Cigna said Friday in a regulatory filing. Shares of both companies declined. An analyst said the delay could be a sign of trouble for the …
  
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• A crash course in how auto technology is changing claims

  09-05-2016 14:00
  
  Automotive technology is constantly evolving and claims professionals must quickly gain the knowledge to handle these new technologies in the event of a crash.
  
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• Global Reinsurer Profits Expected to Dip in 2016 as Soft Market Takes Toll: Fitch

  09-05-2016 13:52
  
  Global reinsurance sector profits in 2016 will fall below 2015 levels as soft market rates, low investment income and an over-supply of capital continue to take their toll on the market, according to a new report from Fitch Ratings. Fitch …
  
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• Insurer customer satisfaction tied to online buying experience

  09-05-2016 13:45
  
  Companies embracing digital shopping channels see premium growth.
  
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• 7 cities that wealthy millennials call home

  09-05-2016 13:00
  Are wealthy millennials real or fiction? Here's a shortlist of places where you might just spot some.
  
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• Commercial Rates Fell 2% in April: MarketScout

  09-05-2016 12:54
  
  Commercial insurance pricing fell 2 percent for April as compared to 3 percent in March and 4 percent in January and February 2016. Rates changed in most coverage classifications with property, business interruption, business owners (BOP), inland marine, workers’ compensation, …
  
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• How P/C Insures Fared in 2015

  09-05-2016 12:46
  
  The U.S. property/casualty (P/C) industry marked a third consecutive year of underwriting profitability, with $6.2 billion in underwriting income in 2015. However, the lower level of underwriting income and an 11.2 percent decline in net investment income drove pre-tax operating …
  
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• How P/C Insurers Fared in 2015

  09-05-2016 12:46
  
  The U.S. property/casualty (P/C) industry marked a third consecutive year of underwriting profitability, with $6.2 billion in underwriting income in 2015. However, the lower level of underwriting income and an 11.2 percent decline in net investment income drove pre-tax operating …
  
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• Tokio Marine Kiln Launches General Aviation Consortium on Lloyd’s Asia Platform

  09-05-2016 12:28
  
  Tokio Marine Kiln (TMK), the leading provider of specialist and corporate insurance, has launched its first General Aviation Consortium on the Lloyd’s Asia platform. The consortium will provide all brokers and buyers in the Asia Pacific region with a single …
  
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• AXA Plans Additional Acquisitions in Brazil’s Expanding Insurance Market

  09-05-2016 12:14
  
  AXA SA, France’s largest insurer, is open to more acquisitions to keep expanding in Brazil even as Latin America’s largest economy suffers its deepest recession on record. AXA expects Brazil’s 360 billion-real ($102 billion) insurance market to grow 10 percent …
  
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• Drones Will Be Used to Investigate Cause of Alberta Wildfires

  09-05-2016 11:10
  
  Fire-ravaged Alberta will use drones to investigate the cause of a huge blaze that has scorched the Canadian province and displaced some 88,000 people. Elevated Robotic Services, which has also deployed drones for mining and construction companies, has contracts with …
  
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• Drones Will Be Used to Investigate Cause of Alberta Wildfire

  09-05-2016 11:10
  
  Fire-ravaged Alberta will use drones to investigate the cause of a huge blaze that has scorched the Canadian province and displaced some 88,000 people. Elevated Robotic Services, which has also deployed drones for mining and construction companies, has contracts with …
  
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• Alberta Wildfires Set to Veer from Oil Sands Operations, Spreading More Slowly

  09-05-2016 10:44
  
  Wildfires raging through Alberta are set to move away from the main oil-sands facilities north of Fort McMurray after knocking out an estimated 1 million barrels of production from Canada’s energy hub. A cold front scheduled to pass through the …
  
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• Weather Service Confirms Tornado Near Wilmington, North Carolina

  09-05-2016 07:43
  
  The National Weather Service says a tornado struck northern New Hanover County, uprooting trees and damaging some homes. The storm hit in the Ogden area about 2:30 p.m. Thursday. The National Weather Service in Wilmington confirmed late Thursday that the …
  
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• Jury Rules Billionaire’s Coal Co. Didn’t Contaminate West Virginia Drinking Wells

  09-05-2016 07:39
  
  A West Virginia jury has ruled that a coal company owned by Democratic gubernatorial candidate Jim Justice did not contaminate the drinking water wells of residents, but the plaintiffs’ attorneys say the jury may have been improperly influenced by the …
  
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• Flood Aid Bill for South Carolina Farmers Headed to Governor

  09-05-2016 07:20
  
  A bill to give $40 million to South Carolina farmers who lost much of their crops in last year’s massive floods is on its way to a showdown with the governor. The House voted 85-2 Wednesday to agree to the …
  
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• Should Hospitals Consider Getting Cybercrime Insurance? - HIT Consultant

  09-05-2016 07:18 via hitconsultant.net
  
  HIT Consultant
  Should Hospitals Consider Getting Cybercrime Insurance?
  HIT Consultant
  Naturally, most of what you hear from healthcare IT companies about their products is going to be upbeat, designed to create a sense of potential and promise. I mean, I can easily extol the virtues of the company I lead and the products and services we ...and more »
  
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• Proof health insurance is a rip-off? - NEWS.com.au

  09-05-2016 07:06 via news.com.au
  
  NEWS.com.au
  Proof health insurance is a rip-off?
  NEWS.com.au
  AUSTRALIANS are paying excessively more in private health insurance fees than they're getting back in actual benefits and what's more, the problem could get worse before it gets any better. A confidential source from not-for-profit private health ...and more »
  
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• Insurance Companies Mislead Patients By Selling "Affordable" Policies That Cover Very Little - PR Newswire (press release)

  09-05-2016 06:02 via prnewswire.com
  
  PR Newswire (press release)
  Insurance Companies Mislead Patients By Selling "Affordable" Policies That Cover Very Little
  PR Newswire (press release)
  WASHINGTON, May 9, 2016 /PRNewswire-USNewswire/ -- Nine in 10 emergency physicians responding to a new poll say that health insurance companies are misleading patients by offering "affordable" premiums for policies that actually cover very little.
  Survey: Insurance shortchanging doctors, patientsazcentral.comall 2 news articles »
  
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• Insurance Sector Targets N16trn Asset Base In 4 Years - Leadership Newspapers

  09-05-2016 05:53 via leadership.ng
  Insurance Sector Targets N16trn Asset Base In 4 Years
  Leadership Newspapers
  The director-general of the Nigeria Insurers Association (NIA), Sunday Thomas has said that the industry was set to achieve a premium volume of N6trillion and total market asset base of N16trillion by the year 2020. Thomas, who made the disclosure at ...
  
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• Open the door on homeowners insurance rate-setting - The Boston Globe

  09-05-2016 03:47 via bostonglobe.com
  
  The Boston Globe
  Open the door on homeowners insurance rate-setting
  The Boston Globe
  The title of a new report on home insurance rate-setting in Massachusetts neatly sums up the authors' opinion of how the current system works: “Behind Closed Doors.” The study, from the state Senate's Post Audit and Oversight Committee, details an ...
  
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• First hospital founded by insurance company opens - China.org.cn

  09-05-2016 03:38 via china.org.cn
  First hospital founded by insurance company opens
  China.org.cn
  China's first hospital founded by an insurance firm, in cooperation with local government, opened on Sunday, creating a new model for health care. Approved by the China Insurance Regulatory Commission, the Sunshine Union Hospital opened in Weifang ...and more »
  
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• Louisiana warns drivers to replace Affirmative Insurance - NOLA.com

  09-05-2016 03:31 via nola.com
  
  WBRZ
  Louisiana warns drivers to replace Affirmative Insurance
  NOLA.com
  BATON ROUGE — Louisiana's Office of Motor Vehicles reminds drivers whose vehicles are insured by Affirmative Insurance or Affirmative Casualty Insurance that they need to have new coverage by 11:59 p.m. Wednesday. Otherwise, says Commissioner ...
  State warns drivers with Affirmative Insurance policies to get new insurance before May 12The Advocate
  11k LA drivers in danger of losing vehicle insuranceKSLA-TVall 5 ne
  
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• Uncertainty in motor insurance sector can be eased - Irish Times

  09-05-2016 02:03 via irishtimes.com
  
  Irish Times
  Uncertainty in motor insurance sector can be eased
  Irish Times
  There is an old adage about insurance being the only product where you don't know the cost of sales at the time of sale. In essence, this is because insurance companies take on the liabilities of motorists, homeowners and business people to give them ...
  The growing insurance gapIrish Independent
  Insurance premium collection crosses Rs100b for first timeE Kantipurall 6 news articles »
  
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