Insurance news

• Google plans self-driving car development center near Detroit

  25-05-2016 20:38
  
  Google is expanding efforts to make autonomous cars at a time startups such as Uber, as well as established companies like General Motors Co. are investing in the technology.
  
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• Elkann’s PartnerRe exits junk debt, adds real estate after deal

  25-05-2016 20:20
  
  PartnerRe exited junk bonds and shifted funds into property as the reinsurer reshaped a $16 billion investment portfolio after being acquired by John Elkann’s Exor SpA.
  
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• Airlines spend millions in bid to cut TSA lines in record summer

  25-05-2016 19:40
  
  Summer air travel is forecast to climb 4% this year to a record 231.1 million passengers.
  
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• Sedgwick acquires company in Ireland

  25-05-2016 19:20
  
  Memphis-based claims management company to add eight offices, 400 employees on Emerald Isle.
  
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• West Virginia Motorcyclist Wins $500K in Suit Against Travelers, Truck Driver

  25-05-2016 18:55
  
  A jury has awarded more than $500,000 to a motorcyclist in South Charleston, W. Va., who was injured in a lumber spill wreck. The Charleston Gazette-Mail reports jurors reached the verdict last week in Larry Keeling Jr.’s case. Keeling’s attorney …
  
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• Crash-test dummies get in back seat to make Uber riders safer

  25-05-2016 18:50
  
  The NHTSA plans to test dummies in back seats in new models as part of its 5-Star Safety Ratings Program beginning in 2019.
  
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• AIG to Offer Crowdfunding Investor Protection in UK and Canada

  25-05-2016 18:48
  
  American International Group, Inc., has launched a new product for the global crowdfunding investment industry. This new insurance product was developed specifically to protect investors on equity crowdfunding platforms against issuer fraud. Crowdfunding platforms enable innovators to fund their ideas …
  
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• American Family Insurance Signs Baseball’s Jeter as Brand Ambassador

  25-05-2016 18:46
  
  Madison, Wis.-based American Family Insurance has tapped Derek Jeter – retired New York Yankees shortstop, 14-time All-Star, future Hall of Famer, businessman and philanthropist – as the company’s newest brand ambassador. American Family Insurance said it will partner with Jeter …
  
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• Feds: 6 Connecticut Men Staged 50 Car Crashes for Insurance Money

  25-05-2016 18:45
  
  Federal prosecutors say six Connecticut residents have been charged with staging car crashes so they could make fraudulent insurance claims. U.S. Attorney Deirdre Daly said Tuesday that five Norwich residents and one New London resident have been indicted by a …
  
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• Oklahoma Governor Seeks Disaster Assistance after Severe Weather

  25-05-2016 18:38
  
  Gov. Mary Fallin is seeking disaster assistance for two Oklahoma counties that were hit hard by tornadoes, severe storms and flooding earlier this month. Fallin sought assistance from the U.S. Small Business Administration for Murray and Garvin counties. Damage assessments …
  
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• Ohio not Tracking Insurance Death Benefits, Report Says

  25-05-2016 18:37
  
  The state hasn’t tracked insurance companies’ payments of death benefits to Ohio residents to see if they are getting what they are owed since a national probe revealed large insurers were holding onto billions of dollars meant for beneficiaries, according …
  
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• Liberty International Underwriters Launches Auto Parts Recall Policy

  25-05-2016 18:35
  
  Liberty International Underwriters, part of Liberty Mutual Insurance, has launched an Automotive Components Product Recall Policy designed to cover first and third party recall expenses. The policy coverage encompasses critical, noncritical and after-market parts with limits of $5 million primary and …
  
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• Arkansas Officials Question Health Insurance Rate Hikes for 2017

  25-05-2016 18:35
  
  Arkansas Insurance Commissioner Allen Kerr says he expects to deny several recent requests by insurers to raise rates on individual on-exchange health insurance policies by more than 10 percent for 2017. Under the Affordable Care Act, requests for rate increases …
  
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• PBS/NPR Documentary Adds to Criticism of Private Insurers, FEMA Over Profits on Flood Insurance

  25-05-2016 18:32
  
  Private insurance companies working for the government’s flood insurance program have made hundreds of millions of dollars at the same time that thousands of homeowners are claiming they have been underpaid for damage caused by Superstorm Sandy, according to a …
  
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• FEMA Vows Changes to Flood Insurance Claims Appeals

  25-05-2016 18:27
  
  After learning some hard lessons from Superstorm Sandy, the Federal Emergency Management Agency says it is reforming the way it handles appeals from disgruntled policyholders in the National Flood Insurance Program. The October 2012 storm, spawned when Sandy merged with …
  
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• Fisher Named Executive Director of PIA of Tennessee

  25-05-2016 18:16
  
  Kristopher Fisher has been named executive director of the Professional Insurance Agents of Tennessee. Transitioning from director of Member Services to executive director, Fisher’s new responsibilities include: management of the PIA Advantage Services Corporation programs and products; management of the …
  
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• Independent Insurance Agents of Virginia Names New Education Director

  25-05-2016 18:15
  
  The Independent Insurance Agents of Virginia (IIAV) has hired Carter Hope Lyons as director of Education and Professional Development. Based in IIAV’s Richmond, Virginia, office, Lyons will also take on the role of executive director for the Virginia Association of …
  
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• Allstate Debuts Insurance Coverage for Homeowners Sharing Their Homes

  25-05-2016 18:11
  
  In a move to serve customers who rent out their homes on a temporary basis, Allstate has filed plans to offer home-sharing protection in six states — Arizona, Colorado, Illinois, Michigan, Tennessee and Utah — starting in mid-August. Allstate says …
  
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• Candidates for Texas FAIR Plan Association Governing Committee Sought

  25-05-2016 18:03
  
  The Texas Department of Insurance (TDI) is accepting applications for the board that governs the Fair Access to Insurance Requirements (FAIR) Plan, which provides residential property insurance in underserved areas where it’s not readily available through the private market. Applications …
  
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• Harrell Joins Ironshore in Chicago from Chubb/ACE USA

  25-05-2016 18:02
  
  Ironshore Inc. has added David Harrell in its Specialty Casualty unit as vice president, casualty manager in the Chicago office. He will be responsible for building upon Ironshore’s retail distribution platform of Specialty Casualty product lines throughout the Midwest region, …
  
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• Oklahoma Regulators Warn Insurers on Earthquake Coverage Hikes

  25-05-2016 18:01
  
  Oklahoma regulators grappling with a massive increase in small earthquakes in the state linked to growing oil and gas production said on May 24 they were concerned with spiking rates for earthquake insurance coverage and diminishing competition among insurers. At …
  
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• U.S. East Coast is an early target as hurricane season starts

  25-05-2016 17:55
  
  When the Atlantic hurricane season starts next week, the most active area might just be off the U.S. East Coast.
  
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• Oregon Transportation Needs Include Preparing for Earthquake Damage

  25-05-2016 16:53
  
  A major fault off the Oregon Coast is expected to produce an earthquake, and transportation officials say preparing for that event needs to be a top priority. The Medford Mail Tribune reported a Cascadia Subduction Zone event tops the needs …
  
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• Fewer Fatal Crashes on Wyoming Roads in 2016

  25-05-2016 16:50
  
  Wyoming authorities say the number of people killed in crashes on state roads has decreased by more than half this year compared to the same time in 2015. The Casper Star-Tribune reported that there have been 18 fatal crashes on …
  
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• Thousands of Gallons Spilled from California Oil Pipeline

  25-05-2016 16:47
  
  Hazardous materials crews are cleaning up as many as 21,000 gallons of oil after a pipeline rupture in Northern California. The San Francisco Chronicle reports that Shell Pipeline Co. officials say a response team is clearing contaminated soil and helping …
  
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• Family of MLB Star Gwynn Sues Tobacco Companies in California

  25-05-2016 16:37
  
  The family of the late baseball star Tony Gwynn, a Hall of Famer who played with the San Diego Padres, has filed a lawsuit in California accusing makers of dipping tobacco of causing his death from cancer by getting him …
  
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• Around the P&C insurance industry: May 25, 2016

  25-05-2016 15:45
  
  News from Chubb, Enservio, XL Catlin and more.
  
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• New York AG Claims Domino’s Pizza Liable for Wage Theft by Franchisees

  25-05-2016 15:43
  
  The New York attorney general’s office on Tuesday sued Domino’s Pizza Inc, claiming it is liable for wage theft by franchisees because the company used a computer system that it knew under-calculated workers’ pay. The lawsuit is the first by …
  
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• New York AG Accuses Domino’s Pizza of Wage Theft in Lawsuit

  25-05-2016 15:43
  
  The New York attorney general’s office on Tuesday sued Domino’s Pizza Inc, claiming it is liable for wage theft by franchisees because the company used a computer system that it knew under-calculated workers’ pay. The lawsuit is the first by …
  
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• Insurers facing customer satisfaction challenge

  25-05-2016 15:15
  
  There are no greater influences on a insurance company's success or failure than its customers and employees, and keeping these two groups happy and engaged is critical.
  
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• Chubb Names Polyblank to Head UK, Ireland Small-Medium Business Unit

  25-05-2016 14:22
  
  Chubb has appointed Ruth Polyblank, currently head of Marketing and Customer Strategy for the UK and Ireland, to the new role of head of SME (small and medium sized enterprises) for the UK and Ireland. Polyblank will have overall management …
  
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• Using IoT to better serve customers

  25-05-2016 14:15
  
  The Internet of Things will be a game changer for insurers.
  
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• Here’s what the future of Auto insurance will look like

  25-05-2016 14:00
  
  Deloitte report introduces insurers to the four market segments that will shape its evolution.
  
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• 3 rich sources of overlooked leads

  25-05-2016 13:45
  
  Here are three ways to mine those "lost" sales opportunities.
  
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• London Re/Insurance Market Faces Risk of Casualty Reserve Shortfall: PwC

  25-05-2016 11:01
  
  There is a real risk that casualty reserves for business written in 2015 will run off at a loss in the future, according to PwC’s London re/insurance market review of reserve adequacy. PwC pointed to the fact that the strength …
  
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• Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow

  25-05-2016 10:01
  
  All of the Canadian oil-sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno. Alberta lifted mandatory evacuation orders for the last of …
  
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• Flood Damage from UK’s Winter Storms to Cost Insurers $2 Billion: ABI

  25-05-2016 09:16
  
  Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates. Three winter storms …
  
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• Citizens Board Approves $2.46B Risk Transfer Program for 2016 Hurricane Season

  25-05-2016 07:50
  
  Florida’s Citizens Property Insurance Corporation’s Board of Governors has approved a $2.46 billion risk transfer program as the state heads into the 2016 hurricane season, the insurer said in a statement. By unanimous vote, Citizens Board approved a package that …
  
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• Encompass Insurance Exits North Carolina Personal Lines Market - Insurance Journal

  25-05-2016 06:30 via insurancejournal.com
  
  Encompass Insurance Exits North Carolina Personal Lines Market
  Insurance Journal
  Encompass Indemnity Insurance, an Allstate Insurance company that sells business through independent agents, has exited the North Carolina personal lines market. As of this month, Encompass is no longer renewing business in the state. However, the ...
  
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• Encompass Insurance Exits North Carolina Personal Lines Market

  25-05-2016 06:27
  
  Encompass Indemnity Insurance, an Allstate Insurance company that sells business through independent agents, has exited the North Carolina personal lines market. As of this month, Encompass is no longer renewing business in the state. However, the departure of the company, …
  
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• Experts Say Investing in Flood Insurance Can Go a Long Way - TWC News

  25-05-2016 05:47 via twcnews.com
  
  TWC News
  Experts Say Investing in Flood Insurance Can Go a Long Way
  TWC News
  Watching TWC News on the go is easy with the Time Warner Cable News app. Download it now for Android and iPhone to stay connected with Central Texas' only 24-hour news, weather and sports channel. One year ago, deadly floods ripped through many ...
  
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• Grieving mother unable to pay for funeral after insurance policy expires - fox4kc.com

  25-05-2016 05:03 via fox4kc.com
  
  fox4kc.com
  Grieving mother unable to pay for funeral after insurance policy expires
  fox4kc.com
  The emotional words from a Kansas City mother whose son D'Adrian Bell was murdered May 15. Ever since, Patricia (Warfield) Bell has been fighting with her insurance company to pay for the funeral. "I took a policy out on me and my family," Bell said.
  
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• Marijuana Similar to Tobacco In Terms of Insurance Premiums - Nature World News

  25-05-2016 04:27 via natureworldnews.com
  
  Nature World News
  Marijuana Similar to Tobacco In Terms of Insurance Premiums
  Nature World News
  Is eating pot brownies every day to relief yourself from chronic pain as bad for you as regularly puffing on a cigarette? According to Canadian life insurance companies, it is. And now, insurance companies are demanding a higher premium rates for ...
  
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• NC listed among premium hike leaders in health insurance marketplaces - Winston-Salem Journal

  25-05-2016 04:22 via journalnow.com
  NC listed among premium hike leaders in health insurance marketplaces
  Winston-Salem Journal
  North Carolinians buying the lowest-cost silver plan in the health-insurance marketplace paid an average 20.6 percent more in premium costs in 2016, according to a study released Tuesday. The average premium increased from $289 in 2014 to $307 in ...
  
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• Don't inflate your insurance claim - Scoop.co.nz (press release)

  25-05-2016 03:02 via scoop.co.nz
  
  Don't inflate your insurance claim
  Scoop.co.nz (press release)
  Think twice before you inflate your insurance claim, as false statements and insurance fraud are more serious than most people think. “Tell the truth when making an insurance claim,” says Insurance & Financial Services Ombudsman, Karen Stevens. “There ...
  Karen Stevens: Make travel insurance a priorityNew Zealand Heraldall 4 news articles »
  
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• Pitcairn Council, Fire Co. No. 1 look to increase vehicles' insurance coverage - Tribune-Review

  25-05-2016 02:03 via triblive.com
  
  Pitcairn Council, Fire Co. No. 1 look to increase vehicles' insurance coverage
  Tribune-Review
  Pitcairn officials are set to vote on changing the insurance policy for Fire Co. No. 1's emergency vehicles. The change would raise policy protection from $80,000 to $450,000. No. 1 Chief Tom Dick raised the issue at Monday's council meeting, stating ...
  
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• Business Of Disaster: Insurance Firms Profited $400 Million After Sandy - NPR

  25-05-2016 01:26 via npr.org
  
  NPR
  Business Of Disaster: Insurance Firms Profited $400 Million After Sandy
  NPR
  On a cold rainy day last fall, dozens of people gathered in a plaza across the street from New Jersey's state Capitol. They held press conferences and slept overnight in lawn chairs. About This Story. This story was produced in partnership with the PBS ...
  How Much Do Insurance Companies Profit After a Natural Disaster?FRONTLINE
  Frontline, NPR Investigates Insurance Companies Short-Changing Victims of SandyNJTV News
  
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• Oklahoma insurance commissioner investigating earthquake insurance in the state - KOCO Oklahoma City

  25-05-2016 01:13 via koco.com
  
  KOCO Oklahoma City
  Oklahoma insurance commissioner investigating earthquake insurance in the state
  KOCO Oklahoma City
  PLAN MEANS FOR YOU. PATTY: WE KNOW THAT AN INCREASE IN EARTHQUAKE INSURANCE RATES IS AND NORTHERN OKLAHOMA ARE WORRIED ABOUT. ACCORDING TO DATA BY THE SIGNATUR OFFICE IS HANDLED BY A HANDFUL OF ...
  Oklahoma officials examining whether system for earthquake insurance is workingkfor.com
  Oklahoma regulators raise concerns on quake insurance rate hikesDaily Mailall 6 news artic
  
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• Report Calls out Insurers for Half-a-Trillion Dollars in ‘Dirty Energy’ Investments

  25-05-2016 01:12
  
  Leading U.S. insurers have nearly half-a-trillion dollars invested the fossil fuel energy and the electric and gas utility sectors, according to a report out today that urges state insurance regulators and board members of these companies to help move them …
  
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• Blacks and insurance - Chronicle

  25-05-2016 00:18 via chronicle.co.zw
  Chronicle
  Blacks and insurance
  Chronicle
  THE word itself is unique 'INSURANCE' and has a certain ring to it that says 'I'm not interested' and 'we're being ripped off'. It's like saying water and oil. They try to mix but it just doesn't happen. But why do fellow blacks shun the insurance ...
  AIG and Aviva offer motorists two-year insurance policiesTHE BUSINESS TIMESall 3 news articles »
  
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