Insurance news

• Should you stay on your employer health insurance or get Medicare? - PBS NewsHour

  18-05-2016 23:24 via pbs.org
  
  PBS NewsHour
  Should you stay on your employer health insurance or get Medicare?
  PBS NewsHour
  Editor's Note: Journalist Philip Moeller, who writes widely on health and retirement, is here to provide the Medicare answers you need in “Ask Phil, the Medicare Maven.” Send your questions to Phil.and more »
  
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• Around the P&C insurance industry: May 18, 2016

  18-05-2016 22:00
  
  News from Salem Five, Guy Carpenter, Allstate and more.
  
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• Ultra Risk Advisors Hires Lexington Underwriter Reardon in Boston

  18-05-2016 21:25
  
  Ultra Risk Advisors has Hired Mathew Reardon as sales executive for the Northeastern territory. He is based in Boston. Reardon brings more than five years of healthcare professional liability insurance experience to his new post at Ultra Risk Advisors. He …
  
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• Monarch E&S Opens New California Office, Names Five New Employees

  18-05-2016 21:18
  
  Monarch E&S Insurance Services has opened a new office in San Marcos, Calif. and hired five new employees to work out of it. The employees are: Michelle Mitchell, senior underwriter/broker; Janet Tharp, senior underwriter/broker; Dayna Herron, underwriter/broker; Chrissy Hellman, senior …
  
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• Head trauma most costly mishap for pets hurt at dog parks, says Nationwide

  18-05-2016 20:15
  
  Soft tissue injuries and sprains were the most common mishap, affecting almost 24,000 Nationwide-insured dogs in 2015.
  
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• KRA Insurance Agency, New Agency Partners Merge in New Jersey

  18-05-2016 20:11
  
  KRA Insurance Agency, based in Springfield, New Jersey, and New Agency Partners in Parsippany, New Jersey, have announced that the two firms have merged, resulting in a newly-formed agency, KRA Agency Partners. KRA Agency Partners will provide commercial property/casualty insurance, …
  
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• Survey: 90% of businesses hacked at least once in 2015

  18-05-2016 19:20
  
  Nine out of 10 risk managers reported that their companies had a data breach last year, but many still don't have Cyber coverage.
  
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• North Carolina Home Fires Spike in April

  18-05-2016 18:59
  
  April was a bad month for house fires in eastern North Carolina. The Red Cross of Eastern North Carolina tells local media outlets that 184 families were affected by house fires during the month. That’s almost a 25 percent increase …
  
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• Aetna to Offer Individual Plans in Maine’s Health Exchanges

  18-05-2016 18:59
  
  Aetna plans to offer individual plans in part of Maine on the Affordable Care Act’s health exchanges, bringing more competition to the market. A filing with the state indicates Aetna will join Community Health Options, Harvard Pilgrim and Anthem Blue …
  
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• Insurance Noodle Appointed as Lloyd’s Coverholder

  18-05-2016 18:56
  
  Insurance Noodle, the online, membership-based insurance placement platform, has been appointed a coverholder with Lloyd’s of London and is now authorized to underwrite and insure accounts on behalf of certain Lloyd’s underwriting syndicates. The position grants Insurance Noodle access to …
  
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• New Hampshire’s Opioid Crisis Adds Urgency to Drug Prevention Education

  18-05-2016 18:55
  
  As New Hampshire considers mandatory drug prevention education in all grades, the state’s opioid crisis has heightened the sense of urgency for existing programs that largely target teens. A proposal to require at least two hours of age-appropriate drug and …
  
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• More Than 400 Homes Wrecked by Superstorm Sandy Auctioned Off in New York

  18-05-2016 18:44
  
  Matt Price and his wife, Carla, of Babylon, New York, are gambling that the devastation inflicted by Superstorm Sandy will be their key to the American dream of home ownership. The couple was among the successful bidders at an auction …
  
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• Louisiana Medical Marijuana Expansion Bill Goes to Governor’s Desk

  18-05-2016 18:44
  
  An effort to speed up and expand the dispensing of medical marijuana in Louisiana has won final legislative passage, spurred by personal stories of people with seizures and severe pain that bill advocates say would be eased with medicinal-grade pot. …
  
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• Report: Cost of Flood Control Improvements in Austin — Possibly $4B

  18-05-2016 18:42
  
  A draft report on how to avoid storm-related flooding in Austin and save lives says improvements could cost up to $4 billion. The Austin American-Statesman reported that the Flood Mitigation Task Force recommends increased public awareness with efforts including installation …
  
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• Lawsuit Accuses Travelers of Violating Fair Housing Act in D.C.

  18-05-2016 18:40
  
  The National Fair Housing Alliance (NFHA) has filed a federal lawsuit Tuesday against Travelers Indemnity Company and Travelers Casualty Insurance Company of America, accusing the insurers of engaging in actions that violated local and federal housing laws. Travelers has allegedly …
  
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• Insurance industry welcomes proposals for driverless cars cover - Financial Times

  18-05-2016 18:40 via ft.com
  Financial Times
  Insurance industry welcomes proposals for driverless cars cover
  Financial Times
  Nissan's Qashqai will be the first mass-market car in Britain to have the ability to drive itself on a motorway. Driverless cars could become a standard feature of UK motor insurance policies under measures announced on Wednesday. Autonomous driving ...and more »
  
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• Better Fire Rating Means Lower Insurance Rates for Some in Louisiana Parish

  18-05-2016 18:22
  
  Louisiana Commissioner of Insurance Jim Donelon says St. Landry Parish homeowners in Fire District 4, which covers the Cankton area, can expect significant rate reductions in their fire insurance premiums, effective June 6. KATC-TV reports Donelon recognized firefighters and local …
  
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• Bus in Fatal Texas Crash Had Seatbelts Only in First Row

  18-05-2016 18:18
  
  Officials investigating a charter bus crash that killed eight people and injured 44 on a rain-slicked South Texas highway said that the vehicle had seat belts only in the first row. Texas Department of Public Safety Sgt. Johnny Hernandez said …
  
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• Minnesota Still Wary About Impact of North Dakota Flood Project

  18-05-2016 18:15
  
  Proponents of a proposed $2.1 billion Fargo-Moorhead flood diversion project in North Dakota will have to do a better job of addressing concerns about how it would affect farmers and other residents upstream before Minnesota will issue the permits the …
  
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• Aspen Announces New CEOs for Insurance & Reinsurance Units as Vitale Retires

  18-05-2016 17:58
  
  Bermuda-based Aspen Insurance Holdings Ltd. has appointed new leaders for its insurance and reinsurance segments, in response to the announced retirement of CEO Mario Vitale. Stephen Postlewhite, previously chief executive officer of Aspen Reinsurance, has been appointed chief executive officer, Aspen Insurance, …
  
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• When is coverage triggered? There's no clear answer

  18-05-2016 17:15
  
  Insureds and insurers need to be aware of the theory favored by the particular jurisdiction in which a lawsuit or claim is brought.
  
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• Early Alert Quake System Could be Operating in California by 2018

  18-05-2016 17:11
  
  California Gov. Jerry Brown will seek state funds to help establish a system that issues alerts that an earthquake is occurring – with an eye on rolling out a limited system by 2018, a newspaper reported this week. The governor …
  
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• Alliant Names Umbright Workers’ Comp Claims Advocate in California

  18-05-2016 16:59
  
  Alliant Insurance Services Inc. has named Jennifer Umbright to its Sacramento, Calif. office of as a workers’ compensation claims advocate within the company’s Alliant Americas division. Umbright will advise a portfolio of middle market clients throughout Northern California. Umbright’s claims …
  
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• RMS Says $77B in San Francisco Property at Risk from Sea Level Rise by 2100

  18-05-2016 16:53
  
  An analysis by catastrophe risk management firm RMS of economic risk to San Francisco’s property from future sea level rise found billions of dollars worth of property at risk. The analysis was used to inform the city’s recently released Sea Level …
  
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• Uber Driver First Named to Lead Suit Opposes $100M Settlement

  18-05-2016 16:46
  
  The driver originally named to lead a class-action lawsuit over pay and benefits against Uber Technologies Inc. is opposing the rideshare company’s $100 million settlement, saying he was duped by the drivers’ lawyer into signing on to the deal. Douglas …
  
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• Is your bathroom at risk for water damage?

  18-05-2016 16:00
  
  Household leaks can waste more than 90 gallons of water a day.
  
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• House, Senate Republicans Divided Over Zika Funding

  18-05-2016 15:29
  
  House and Senate Republicans can’t get on the same page when it comes to fighting the Zika virus — and Democrats are pouncing. The Senate, on a 68-29 vote, advanced $1.1 billion of the administration’s $1.9 billion emergency request Tuesday, …
  
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• Manager’s Suit Alleges All-Male ‘Club’ Atmosphere, Gender Bias, Retaliation at Bank of America

  18-05-2016 15:16
  
  A managing director suing Bank of America Corp. for gender discrimination by what she called an in-house “bro’s club” outlined a host of practices — including front-running, lying to customers and manipulating bond prices — in a complaint filed in …
  
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• P/C Insurers Caught Between Slowing Premium Growth and Rising Loss Ratios

  18-05-2016 14:40
  
  For U.S. property/casualty insurers, net written premium still grew in 2015, but the rate of expansion is slowing, and the industry’s collective combined ratio worsened slightly, according to a new report from ISO and the Property Casualty Insurers Association of …
  
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• 50% of Risk Managers Bought or Increased Cyber Insurance in Last Year: HSB Survey

  18-05-2016 14:26
  
  Fifty percent of U.S. businesses have either purchased cyber insurance for the first time or increased their level of coverage in the last year, according to a survey of risk managers by The Hartford Steam Boiler Inspection and Insurance Co. …
  
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• 50% of Risk Managers Bought or Increased Cyber Insurance in Last Year: HSB

  18-05-2016 14:26
  
  Fifty percent of U.S. businesses have either purchased cyber insurance for the first time or increased their level of coverage in the last year, according to a survey of risk managers by The Hartford Steam Boiler Inspection and Insurance Co. …
  
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• Top 5 Workers Compensation Claims and Their Causes

  18-05-2016 14:07
  
  Strains and sprains are the most common worker injury while worker injuries are most frequently the result of materials handling incidents, according to a review of more than 1.5 million workers compensation claims by The Travelers Companies. The country’s largest …
  
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• On Wine Day, Consider Wineries and Vineyards a Fertile Field

  18-05-2016 14:00
  
  If you’re one of those people who think there are enough holidays already, then you may not be happy to hear that National Wine Day is coming up – unless you really like wine, then perhaps an exception is in …
  
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• 3 overlooked productivity tips for sales reps

  18-05-2016 13:30
  
  What behaviors drive successful salespeople?
  
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• Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.

  18-05-2016 13:22
  
  Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced plans to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure. WFIC is Canada’s largest pet insurance company with net …
  
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• Insurers’ direct repair programs can enhance consumer welfare

  18-05-2016 13:15
  
  Repairs take five to seven days longer at body shops that aren't a part of a direct repair program.
  
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• Catastrophe season off to a strong start

  18-05-2016 13:00
  Flooding, hail and severe winds have already caused billions in damage.
  
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• Longhurst Named Broking & Distribution Director for Towergate London Markets

  18-05-2016 11:47
  
  Towergate Insurance has appointed Paul Longhurst as Broking and Distribution director of Towergate London Markets. Longhurst joins Towergate from Bluefin, where he has been London market broking director for 25 years. Longhurst ran the SBJ London market broking team until …
  
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• Carpenter Forms Partnership with Symantec to Create Cyber Aggregation Model

  18-05-2016 11:26
  
  Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., has formed a strategic alliance with cyber security specialist Symantec Corp. to create a cyber aggregation model. Cyber attacks are estimated …
  
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• Delta Lloyd’s Solvency II Ratio Declines to 127% on Fall in Interest Rates

  18-05-2016 10:39
  
  Delta Lloyd NV, the Dutch insurer that last month completed a rights offer to shore up its capital buffers, said its ability to absorb losses weakened in the first quarter. The Solvency II ratio, a measure of an insurer’s strength …
  
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• China’s Fosun Aims to Lead in Insurance, Tourism, Healthcare; Plans to Cut Debt

  18-05-2016 09:31
  
  Fosun Group, China’s largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a “clear plan” to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday. In an exclusive interview with …
  
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• Many Weed-Smoking Canadian Drivers Say They Can Drive Unimpaired: Insurers

  18-05-2016 09:03
  
  Almost half of weed-smoking Canadian drivers say that they can safely operate a vehicle while stoned. Among Canadians who have driven under the influence of marijuana, 44 percent don’t think it impacts their ability to drive safely, according to a …
  
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• Minnesota Workers’ Compensation: A No-Fault System

  18-05-2016 07:40
  
  Workers’ compensation is a no-fault system in Minnesota: the employee does not need to prove negligence on the part of the employer to establish liability and the employer cannot use negligence on the part of the employee as a defense …
  
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• LIU Designs New Policy for Architects & Engineers With Data Breach Coverage

  18-05-2016 07:38
  
  Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched LIU Design and Data Insure, a new architects & engineers policy. The enhanced policy offers insurance and risk management services to help protect design firms from wrongful acts incurred …
  
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• Insurors of Tennessee Adds Small as Membership Specialist

  18-05-2016 07:26
  
  Insurors of Tennessee has added Ellie Small to the Association staff as membership specialist. Small will manage the continuing education program, coordinate course registration and provide administrative support to the Insurors office. Small is a native of Evansville, Ind., and …
  
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• Florida Insurance Agent Sentenced to 7 Years for Insurance Fraud

  18-05-2016 07:20
  
  The Florida Department of Financial Services, Division of Insurance Fraud, which operates under the direction of CFO Jeff Atwater, announced the conviction and sentencing of former Orlando insurance agent Mario Ferreri. Earlier this year, Ferreri faced trial on fraud charges …
  
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• South Carolina Governor Vetoes $40M Flood Aid Bill for Farmers

  18-05-2016 07:09
  
  Gov. Nikki Haley vetoed a bill Monday that would send $40 million in aid to South Carolina farmers, saying farmers may complain loudly, but don’t need a bailout that isn’t being offered to all small businesses. The veto sets up …
  
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• Kansas Insurance Dept. Adds Chat Feature to Interact with Agents, Consumers

  18-05-2016 01:42
  
  A new interactive online chat feature on the Kansas Insurance Department’s website gives consumers and insurance agents another way to gather insurance information easily, the department announced. “This new feature allows an online user to quickly gather information from our …
  
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• ITS Adds Daniels as VP, Business Development – Midwest

  18-05-2016 01:40
  
  ITS, a Dallas-based insurance technology consulting and services firm, has added Marti Daniels as vice president of business development for the Midwest. Daniels brings significant industry experience to ITS, with more than 23 years in insurance at companies such as …
  
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