Insurance news

• How much will a dog bite cost? About $37,200

  11-05-2016 23:45
  
  Canine attacks accounted for more than $570 million in Homeowners' claims in 2015, according to the Insurance Information Institute.
  
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• Around the P&C insurance industry: May 11, 2016

  11-05-2016 22:40
  News from Marsh Clearsight, Hiscox London, Travelers and more.
  
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• Fatal crashes doubled after state legalized marijuana, AAA says

  11-05-2016 21:00
  Two new reports from AAA found that legal limits for THC levels while driving aren't effective.
  
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• AIG chairman: Property & Casualty business fits with Life unit

  11-05-2016 19:15
  Insurance giant's Doug Steenland says keeping both businesses is the "right long-term position."
  
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• New York Orders Nail Salons to Pay $2M in Unpaid Wages, Damages

  11-05-2016 18:59
  
  New York authorities say they have ordered 143 nail salons to pay $2 million in unpaid wages and damages to 652 workers. A state task force established a year ago said Monday that it has opened investigations into more than …
  
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• Massachusetts Women, Son Get Probation for $100K Medicaid Scheme

  11-05-2016 18:54
  
  A Worcester, Massachusetts, woman and her adult son have received probation for cheating the state Medicaid system out of nearly $100,000. The Telegram & Gazette reports that 68-year-old Beverly Cousin, a recipient of personal care attendant services through MassHealth, was …
  
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• Massachusetts Woman, Son Get Probation for $100K Medicaid Scheme

  11-05-2016 18:54
  
  A Worcester, Massachusetts, woman and her adult son have received probation for cheating the state Medicaid system out of nearly $100,000. The Telegram & Gazette reports that 68-year-old Beverly Cousin, a recipient of personal care attendant services through MassHealth, was …
  
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• New York Announces Task Force to Combat Heroin, Opioid Abuse

  11-05-2016 18:47
  
  New York Gov. Andrew Cuomo on Tuesday announced he’s forming a new statewide task force to combat heroin and opioid abuse. Cuomo said the task force is comprised of experts in healthcare, drug policy, advocacy, education, and parents and New …
  
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• Uber, Lyft Suspend Service in Texas Capital Because of Background Checks

  11-05-2016 18:10
  
  Uber and Lyft have suspended ridesharing service in Austin, Texas after voters decided against overturning city requirements that include fingerprint-based background checks for their drivers. Nearly 56 percent of voters rejected a proposition Saturday that would have repealed rules the …
  
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• Tornadoes Survival Tips from Texas to Nebraska

  11-05-2016 18:06
  
  Storms swept through the nation’s midsection Monday, spawning numerous tornadoes. While tornadoes can form any time weather conditions are right, the area from Texas to Nebraska typically sees tornadoes between April and June. Here are some items from the nation’s …
  
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• Storm Shelter Construction Begins on 1st of 20 Schools in City in Oklahoma

  11-05-2016 17:59
  
  Construction is underway at the first of 20 Tulsa, Okla.-area schools that will receive new classroom or library additions to double as storm shelters. The Tulsa World reported that a $415 million bond package that Tulsa voters approved of in …
  
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• Two-Car Crash On Rainy Texas Highway Kills 5

  11-05-2016 17:57
  
  Five people are dead following a two-car crash on a rainy Texas highway on Mother’s Day. The Texas Department of Public Safety tells the Austin American-Statesman it happened Sunday afternoon near the town of Dripping Springs, about 20 miles southwest …
  
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• Workers at Ohio Auto Glass Plant Warn of Unsafe Conditions

  11-05-2016 17:54
  
  Workers alleging unsafe working conditions at an automotive glass manufacturing plant in southwestern Ohio have filed a complaint with the federal Occupational Safety and Health Administration. The complaint filed this week by 11 workers at the Fuyao Glass America Inc. plant …
  
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• Background Checks For Uber, Lyft Drivers Established in Iowa

  11-05-2016 17:52
  
  Iowa Gov. Terry Branstad has signed a bill into law that creates new statewide rules for ridesharing companies such as Uber and Uber to do business in Iowa. Branstad signed the bill this week following approval this session in the Democratic-controlled …
  
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• California Regulators Reopening Settlement over San Onofre Nuke Plant

  11-05-2016 17:50
  
  California regulators said this week they will re-examine a settlement that made consumers responsible for covering some $3.3 billion in costs for closing the San Onofre nuclear power plant. The Public Utilities Commission said parties involved in the case can submit …
  
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• Nevada Doctor Sued by Parents of Painkiller Overdose Victim

  11-05-2016 17:46
  
  The Reno, Nev. doctor at the center of a federal investigation into an illegal prescription drug ring is being accused by the parents of an overdose victim of ignoring their warnings and continuing to increase the strength of their son’s …
  
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• Willis Towers Watson names CEO for its program administration business

  11-05-2016 17:30
  
  Stacy D. Brown comes to Willis Programs from Freberg Environmental Insurance, a subsidiary of Willis Towers Watson.
  
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• Uber to Start Guild for 35K Drivers in New York City

  11-05-2016 17:01
  
  Uber Technologies Inc. agreed to start a guild for 35,000 drivers in New York that will help them negotiate with the ride-hailing company, though the group will have less power to resolve disputes than a full-fledged union. All current and …
  
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• Young agents raise more than $47,000 for financial literacy program

  11-05-2016 16:15
  
  The money was raised through a Roaring '20s-themed fundraising event and an auction.
  
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• Brown Named CEO of Willis Programs

  11-05-2016 16:12
  
  Willis Towers Watson has appointed Stacy D. Brown as president and CEO of Willis Programs, the company’s program administration business. Brown brings 28 years of experience in the insurance and environmental consulting industry to this role. He joined Freberg Environmental …
  
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• Clark to Head New Everest Specialty Unit Targeting Private Equity, Hedge Funds

  11-05-2016 15:57
  
  Everest Specialty Underwriters said it has formed a new division,  Alternative Solution Group, to offers transactional risk insurance as well as professional and management liability insurance on both a primary and excess basis to private equity firms and hedge funds. …
  
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• Medical Professional Liability Insurers’ Profits Decline But Outlook Stable: A.M. Best

  11-05-2016 15:18
  
  The specialty medical professional liability (MPL) insurance industry remained profitable in 2015, however its net income fell nearly 36.6 percent to almost $1.1 billion in 2015. In a special report, A.M. Best said the MPL segment’s results were hampered by …
  
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• Allianz Asset Management Hit by PIMCO Outflows, Although Reversal Expected

  11-05-2016 14:39
  
  Allianz Asset Management reported a 17 percent decline in first-quarter earnings as investors continued to withdraw money from its Pacific Investment Management Co. unit 19 months after the ouster of Chief Investment Officer Bill Gross. Operating profit at Allianz Asset …
  
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• America's Claims Event to look at new risk challenges insurers will face

  11-05-2016 14:30
  
  Autonomous vehicles, industry technology and workplace violence are among the topics for the ACE conference, June 22-24.
  
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• 8 great ways to overcome your networking fears

  11-05-2016 13:45
  We all have fears, but the fear of meeting new people and talking to them in person prevents you from making a lot of important new connections.
  
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• Smaller businesses at risk of Cyber attacks, too

  11-05-2016 13:15
  
  It doesn't matter what industry you are in, criminals want to take your data.
  
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• 10 deadliest world catastrophes since 1970

  11-05-2016 13:00
  While hurricanes are the costliest catastrophes for insurers, throughout history, earthquakes have generally been the deadliest.
  
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• North America Agency Mergers Set Brisk Pace in Q1: Optis

  11-05-2016 12:42
  
  Insurance agency mergers and acquisitions hit an all-time high for the first quarter of a year, with 109 reported transactions in the first three months of 2016. The pace slightly outstripped 107 deals reported in the first quarter of 2015, …
  
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• Agency Mergers Set Record with ‘Unstoppable Momentum’ in Q1: Optis

  11-05-2016 12:42
  
  Insurance agency mergers and acquisitions hit an all-time high for the first quarter of a year, with 109 reported transactions in the first three months of 2016. The pace slightly outstripped 107 deals reported in the first quarter of 2015, …
  
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• Gallagher Partners with Cardinus to Help UK Clients Cut Risk of Underinsurance

  11-05-2016 12:37
  
  Arthur J. Gallagher* has partnered with independent specialist Cardinus Risk Management to offer its commercial property and property investor clients a cost-effective nationwide service that will help eradicate the risk of underinsurance and its far-reaching consequences. With figures revealing that …
  
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• Obama Administration Calls for Stricter Building Codes

  11-05-2016 12:27
  
  President Barack Obama is asking the private sector to tighten building standards to reduce losses from natural disasters after studies linked an increase in extreme weather to climate change. The administration will announce Tuesday the start of work by the …
  
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• Marsh Canada Appoints Lay as President & CEO; Garner Named Chairman

  11-05-2016 12:11
  
  Marsh has appointed Chris Lay as president and CEO of Marsh Canada, succeeding Alan Garner who takes on the role of chairman, effective July 1. Both Lay and Garner will report to Robert Bentley, president of Marsh US and Canada. …
  
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• Watercolor Management Adds Property Coverage for Water Treatment Companies

  11-05-2016 12:00
  
  Watercolor Management, an Alabama-based managing general underwriter, will open new property underwriting facilities for water treatment businesses through an agreement with a new surplus lines carrier. The agreement grants Watercolor Management nationwide MGA authority with in-house rating and underwriting. The …
  
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• Investigation of $81M Bangladesh Bank Heist Uncovers 3 Hacker Groups: Sources

  11-05-2016 10:55
  
  Investigators examining the theft of $81 million from Bangladesh’s central bank have uncovered evidence of three hacking groups — including two nation states — inside the bank’s network but say it was the third, unidentified group that pulled off the …
  
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• North Carolina Supreme Court Rules Law Violates Rights of Veteran Teachers

  11-05-2016 07:15
  
  North Carolina’s Supreme Court says state lawmakers violated the constitutional rights of veteran teachers by taking away job protections they’d already earned. The state’s high court ruled unanimously April 15 that the General Assembly can’t retroactively repeal the job protections …
  
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• Too Much Rain Hampers Mississippi Farmers

  11-05-2016 07:04
  
  Northeast Mississippi farmers have had to replant some of their corn and soybeans more than once because of spring downpours. It’s the third year in a row that farmers have had to fight excess water, Charlie Stokes, the area’s agronomy …
  
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• Lockton Adds Healthcare Client Executive to Nashville Office

  11-05-2016 06:51
  
  Lockton Companies announced Karmanee Governor has joined its Nashville office as an account executive in the Healthcare Practice. She will work with clients such as hospitals, long-term care facilities, and physician groups to develop insurance programs to best manage professional …
  
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• Starr Companies Names Coleman Western Region Vice President

  11-05-2016 02:28
  
  Starr Cos. has named Andrea Coleman regional vice president for the Western region. Coleman will be located in Starr’s San Francisco office, where she will be responsible for the field leadership in the Western region. She reports to Robert Cruz, …
  
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• Leavitt Group in Utah Names Pareti Director of Voluntary Benefits Enrollment

  11-05-2016 02:27
  
  Leavitt Group in Utah has named Kelly Pareti director of voluntary benefits enrollment. Pareti will be working with employee benefits agencies to provide enrollment and voluntary benefits solutions to clients. Pareti worked for a national insurance company as a regional …
  
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