Insurance news

• Maryland Commissioner Redmer Elected Chair of NAIC Northeast Zone

  16-05-2016 23:58
  
  The National Association of Insurance Commissioners’ (NAIC) Northeast Zone has elected Maryland Insurance Commissioner, Al Redmer, Jr., as its new chair. Redmer succeeds Susan L. Donegan, the outgoing commissioner of the Vermont Department of Financial Regulation (DFR), who served as …
  
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• Top Court Rejects Philip Morris Appeal of Oregon Ruling in Smoker’s Death

  16-05-2016 21:13
  
  The U.S. Supreme Court on Monday declined to hear Philip Morris USA’s challenge to a $25 million Oregon jury verdict in favor of a man whose wife died of a lung cancer-related brain tumor after smoking the company’s low-tar cigarettes. …
  
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• U.S. Top Court Rejects Exxon’s Appeal of $236M Verdict in N.H. Pollution Case

  16-05-2016 20:04
  
  The U.S. Supreme Court on Monday rejected Exxon Mobil Corp’s appeal of a $236 million judgment against the oil company in a case brought by the state of New Hampshire over groundwater contamination linked to a gasoline additive. The justices …
  
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• Supreme Court Ducks Religious Claims Against Obamacare Birth Control Benefit

  16-05-2016 19:52
  
  The U.S. Supreme Court backed out of a divisive clash involving religious groups that object to contraceptive coverage under Obamacare, issuing a compromise decision that said the two sides might be able to work out their differences. Releasing an unsigned, …
  
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• Supreme Court Sidelines Class Action Alleging Injury from Inaccurate Internet Information

  16-05-2016 19:43
  
  The U.S. Supreme Court on Monday handed a narrow victory to Spokeo Inc. over the online people-search company’s bid to avoid a class action lawsuit for including incorrect information in its database. The court, in a 6-2 decision, threw out …
  
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• New Jersey Diner Owner Charged With Arson, Insurance Fraud

  16-05-2016 19:29
  
  Authorities say a New Jersey diner owner has been charged with burning down the restaurant to collect insurance money. The New Jersey Herald reports that Tina Diakos was arrested and charged on May 13 with setting the March 8 fire …
  
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• New York Diocese Sues Regulators Over Insurer Abortion Mandate

  16-05-2016 19:09
  
  The Roman Catholic Diocese of Albany, New York, has sued state insurance regulators over requirements that workplace health plans cover employee abortions. The New York State Department of Financial Services lacks legislative authority to impose the requirements, and the mandate …
  
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• Seven Corners Launches Kidnap & Ransom, Crisis Management Travel Coverages

  16-05-2016 18:59
  
  International travel insurance and specialty benefit management company Seven Corners, Inc., has unveiled two new insurance products – Captum Kidnap and Ransom and Ally Crisis Management – for international travelers. Captum Kidnap and Ransom coverage is sold online and provides financial and crisis support for …
  
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• Ex-New York Senate Leader Skelos, Son Get Prison Terms

  16-05-2016 18:47
  
  A once-powerful New York politician convicted of using his position as Senate majority leader to help his son extort hundreds of thousands of dollars was sentenced May 12 to five years in prison after each asked for mercy for the …
  
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• Partner Specialty Group Launches Online High Value Homeowners Facility

  16-05-2016 18:43
  
  Partners Specialty Group, LLC has announced a new non-admitted online high value homeowners facility with limits in excess of $60 million. Appointed agents will be able to access the online portal and obtain quotes for the following exposures: High Value …
  
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• NJM to Offer Motorcycle, ATV Coverage in New Jersey

  16-05-2016 18:29
  
  NJM, a property-casualty insurer offering coverage in New Jersey, has partnered with American Modern Insurance Group to offer coverage for motorcycles, ATVs and similar vehicles. The program offers coverage for standard motorcycles, cruisers, dirt bikes, dual purpose, SuperSports, trike conversions, …
  
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• MarketScout Adds Lohmar to Construction Practice in Dallas

  16-05-2016 18:25
  
  MarketScout, an electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has hired construction industry underwriting veteran, Rhonda Lohmar. Lohmar joins the construction practice with more than 20 years of industry underwriting experience. Prior to joining MarketScout, Lohmar was …
  
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• Zenith to Provide Workers’ Comp for California Mutual Water Companies

  16-05-2016 18:23
  
  Zenith Insurance Co. will serve as the workers’ compensation reinsurer and service provider for the California water system and water-related entities program recently formed by Alteris Insurance Services, Inc. and the California Association of Mutual Water Companies (CalMutuals). CalMutuals JPRIMA …
  
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• 8 Suits Filed over Crude Oil Spill along Louisiana’s Bayou Teche

  16-05-2016 18:20
  
  Eight lawsuits have been filed by people seeking damages from a Texas industrial services company that spilled about 12,500 gallons of crude oil in March along and into the Bayou Teche in Louisiana. The Advocate reports the suits against Houston-based …
  
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• Postal Service: Cleveland No. 2 in Dog Attacks on Postal Workers

  16-05-2016 18:18
  
  The U.S. Postal Service says Cleveland ranks second in the country in the number of dog attacks on postal workers. The Plain Dealer reports the postal service’s announcement says there 58 dog attacks reported in the city last year, an …
  
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• NTSB Investigating Texas Bus Crash That Left 8 Dead, 44 Hurt

  16-05-2016 18:16
  
  Federal authorities are investigating a charter bus crash in far South Texas that killed eight people and injured 44 more in a single-vehicle rollover, officials said. Seven people died at the scene Saturday morning, May 14, on U.S. Highway 83, …
  
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• Efma-Accenture insurance innovation awards draw 224 submissions

  16-05-2016 18:15
  
  The Innovation in Insurance awards will be announced in Milan on June 9th.
  
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• Owner Alleges Defect; Wants ‘Invincible’ Missouri Home Torn Down

  16-05-2016 18:13
  
  Designed to withstand tornadoes, earthquakes and even bomb blasts, a castle-like southwest Missouri home that was meant to last forever must be torn down and erected again, its owner argues in an ongoing lawsuit. Pensmore, a 72,000-square-foot home, might not …
  
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• Louisiana Drivers Seek Relief from Lawmakers for Insurance Lapse Fines

  16-05-2016 18:08
  
  State lawmakers hope to offer relief to thousands of Louisiana drivers who collectively owe millions of dollars to the Office of Motor Vehicles in unpaid fines from lapsed insurance coverage. It’s not clear yet what form that relief might take, …
  
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• Judge Orders Imprisoned Ohio Cardiologist to Pay Victims $5.5M

  16-05-2016 18:04
  
  An imprisoned Ohio cardiologist has been ordered to repay $5.5 million to people on whom he performed unnecessary heart procedures as part of a medical overbilling scheme. Cleveland.com reports that a federal judge ordered Dr. Harry Persaud to pay his …
  
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• Fisher Joins Lockton Global Benefits in Chicago

  16-05-2016 18:02
  
    Insurance broker Lockton’s Chicago employee benefits operation has added Arturo Fisher as a global total rewards consultant. Fisher has more than 27 years of experience in global HR consulting. In his various roles, he has developed compensation and benefits programs …
  
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• Media Groups Ask Judge for Access to Sandusky Insurance Case Records

  16-05-2016 17:59
  
  Several media organizations want a judge to make public sealed court records in a dispute between Penn State and an insurance company over settlement payments to people who said former Penn State assistant football coach Jerry Sandusky abused them as …
  
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• Vermont to Become 1st State Requiring Drug Makers to Explain Price Hikes

  16-05-2016 17:52
  
  Vermont is poised to become the first state requiring drug companies to explain their price increases, and Bob and Deborah Messing think that’s a good idea. The Messings live in Montpelier and are in their early 70s. She’s on Orencia, …
  
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• Washington Cyclist Gets $400K Payout After Being Struck by Councilwoman

  16-05-2016 17:30
  
  A bicyclist who collided with former Seattle City Councilwoman Sally Clark as she drove to a speaking engagement is being paid $400,000 under the terms of a settlement. The Seattle Times reported that the city is on the hook for …
  
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• Oregon Man Says Wells Fargo Axed Him after Whistleblowing

  16-05-2016 17:29
  
  A Damascus, Ore. man has filed a lawsuit accusing Wells Fargo & Co. of firing him after he alerted them of issues in mortgage procedures. According to a lawsuit unsealed last week, Duke Tran said he complained that the bank …
  
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• Suit: Mcdonald’s Toilet Paper Dispenser Damaged New Mexico Woman’s Eye

  16-05-2016 17:26
  
  A northern New Mexico woman is suing a Santa Fe McDonald’s franchise after she said a toilet paper dispenser fell off a bathroom stall door and slammed into her face. The lawsuit filed last week in Santa Fe District Court …
  
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• Toxic Metals Found in Los Angeles Homes Near Gas Leak: Study

  16-05-2016 17:24
  
  Homes located near a gas well blowout that spewed the nation’s largest-known release of methane had higher levels of toxic metals that could have caused symptoms Los Angeles residents have suffered from for months, public health officials said. Tests found …
  
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• Brown & Brown to Acquire Morstan General Agency in New York

  16-05-2016 17:12
  
  Brown & Brown Inc. announced Monday that it has agreed to acquire substantially all of the operating assets of Morstan General Agency Inc. and related companies based in Manhasset, New York. The transaction is expected to close in June 2016, …
  
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• Georgia drivers face rate hikes from Allstate — for now

  16-05-2016 17:10
  
  Insurance commissioner says he's reviewing increase, which can go into effect without his approval under state law.
  
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• 5 facts about subrogation arbitration

  16-05-2016 17:00
  
  The difference between a carrier winning 65% of its cases versus 50% can translate into millions of dollars in recovery.
  
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• Outdated SAP Software May Be Vulnerable to Hackers if Not Properly Patched

  16-05-2016 16:23
  
  Europe’s biggest software company, SAP, is the subject of a U.S. security alert over a vulnerability the firm disabled six years ago that can still give outside attackers remote control over older SAP systems if the software is not properly patched. SAP fixed the …
  
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• Technology can create a new breed of underwriters

  16-05-2016 16:15
  
  Underwriting is one of the few areas in the insurance industry that has yet to use technology to the fullest.
  
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• Hanover Insurance Taps Aetna’s Zubretsky to Replace Eppinger as CEO

  16-05-2016 15:21
  
  The Hanover Insurance Group today announced that it has named Joseph M. Zubretsky president, chief executive officer, and director effective June 20. He succeeds Frederick H. Eppinger, who last fall announced his intention to retire. Zubretsky, 59, has 35 years …
  
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• Run-off Specialist Compre Completes Restructuring to Reduce Cost Base

  16-05-2016 15:15
  
  Compre, the London-based independent insurance and reinsurance legacy specialist, announced the completion of a group-wide restructure, designed to reduce its cost base in preparation for further acquisitions. The run-off consolidator has so far undertaken three acquisitions in 2016 and will …
  
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• Did Uber Driver Settlement Lawyer Win at Expense of Drivers?

  16-05-2016 14:59
  
  The lawyer who struck a $100 million deal with Uber Technologies Inc. is being accused of greed by some of the drivers covered by the accord who want her bumped. “She has single-handedly stuck a knife in the back of …
  
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• Promise of Robot Cars Includes Surges in Traffic Congestion and Miles Driven

  16-05-2016 14:46
  
  Self-driving cars are expected to usher in a new era of mobility, safety and convenience. The problem, say transportation researchers, is that people will use them too much. Experts foresee robot cars chauffeuring children to school, dance class and baseball …
  
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• Sixth Sense Lessens Risk of Driving While Absentminded But Not While Texting

  16-05-2016 14:32
  
  While much has been made about the dangers of texting and driving, less attention has been focused on the age-old distractions of being absentminded or upset while driving. A team of researchers from the University of Houston (UH) and the …
  
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• China Seeks Help from UK on Its Plans to Create Financial Super-Regulator

  16-05-2016 13:54
  
  China has asked Britain for advice on plans to create a financial super-regulator, as it looks to improve financial oversight following last year’s stock market crash, sources with knowledge of the talks told Reuters. The discussions between representatives from China …
  
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• 10 ways in which Workers' Compensation needs to evolve

  16-05-2016 13:15
  
  The workplace is a lot different today than it was more than 100 years ago when Workers' Compensation was developed to protect employees.
  
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• Beazley Expands Marine Business by Buying Subsea Specialist Leviathan Facility

  16-05-2016 13:10
  
  Beazley, a provider of specialist marine insurance, is expanding its marine offerings with the acquisition of London-based subsea specialist The Leviathan Facility. Beazley will acquire the majority of their existing book and renewal rights. In addition, principal Leviathan underwriters, Simon …
  
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• 7 things to do to prepare for hurricane season

  16-05-2016 13:00
  
  This is Hurricane Preparedness Week. Here are ways your insurance clients can get ready now, before hurricane season begins, for nature's most powerful and destructive storms.
  
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• Previous Telecom Efforts Flopped But Google, Apple See Future for Telemedicine

  16-05-2016 12:48
  
  Google and Apple Inc. have some bright ideas about the future of health care. Not so long ago, AT&T Inc. and Verizon Communications Inc. had similar ideas: a networked world of devices and services that would revolutionize how medicine is …
  
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• Zurich Restructure on Track, but Organization Still too Complex: CEO Greco

  16-05-2016 11:11
  
  While Zurich Insurance Group’s new chief executive officer believes the insurer is on the right track in terms of growth and profit, the organizational structure remains too complicated, he suggested during an investor conference yesterday. “Zurich is world famous for [a] …
  
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• Kentucky Doctor Gets 100 Months for Over-Prescribing Pain Pills

  16-05-2016 06:24
  
  A former doctor with offices in Louisville, Ky., and southern Indiana has been sentenced to 100 months in prison for unlawfully distributing prescription drugs. Jamie Guerrero agreed to pay $827,000 in restitution to victims as part of a January plea …
  
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• Florida Hurricane Fund Financially Sound, Ready for Storm Season

  16-05-2016 06:12
  
  Florida’s continued lucky streak when it comes to dodging hurricanes is helping a key state fund reach its best financial shape ever in the two decades it has been in place. The state-created fund known as the Florida Hurricane Catastrophe …
  
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• Tennessee Investigating Death of Knoxville Steel Mill Worker

  16-05-2016 06:02
  
  The Tennessee Occupational Safety and Health Administration is investigating the death of a worker at a Knoxville steel mill. Knoxville police have said 55-year-old Anthony McDowell was working in a storage area of Gerdau Ameristeel when a pallet overturned on …
  
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• American Strategic Insurance in Florida Promotes Tharpe

  16-05-2016 06:00
  
  American Strategic Insurance in St. Petersburg, Fla., has promoted Michael Tharpe to account executive for ASI’s National Accounts team. Tharpe has worked with ASI for five years, previously serving as account manager. In his new role, Tharpe is responsible for …
  
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