Insurance news

• Travelers Insurance guilty of deceit - Sioux Falls Argus Leader

  27-05-2016 23:19 via argusleader.com
  
  Travelers Insurance guilty of deceit
  Sioux Falls Argus Leader
  A federal jury on Friday awarded a Sioux Falls woman nearly $4 million after deciding that an insurance company deceived her following a devastating car accident. But Charter Oak Fire Insurance also escaped potentially bigger penalties after the jury ...
  
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• RIC Taps Kaneko and Clansen in California

  27-05-2016 22:53
  
  RIC Insurance General Agency Inc. has named Garett Kaneko senior vice president of sales and marketing and Tom Clansen vice president of commercial lines. Both will be based in California. Garett will work out of RIC’s headquarters in Santa Rosa …
  
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• Atlantic hurricane season likely to be near normal, NOAA says

  27-05-2016 20:10
  
  The Atlantic should have a near-average storm season, producing four to eight hurricanes before it ends in November, according to NOAA Administrator Kathryn Sullivan.
  
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• Zurich to donate $744,250 to 126 U.S. nonprofits

  27-05-2016 20:00
  
  Insurance giant announces its grant recipients to kick off its fifth annual Global Community Week.
  
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• EPIC Names Tan Surety Manager in Northern California

  27-05-2016 19:54
  
  EPIC Insurance Brokers and Consultants has named Nick Tan surety manager. Tan will be based in EPIC’s San Ramon, Calif. construction services practice and report to Brian Quinn, regional director of property/casualty. Tan will be responsible for providing surety consulting …
  
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• People on the move in the P&C insurance industry: May 27, 2016

  27-05-2016 19:15
  
  News from Travelers, Verisk, Integro and more.
  
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• XL Catlin Adds Rectification Expense Coverage to Contractors’ Policies

  27-05-2016 18:59
  
  XL Catlin’s Environmental insurance business has added new protection to its Contractor’s Professional and Pollution Legal Liability insurance to help contractors and environmental consultant clients absorb the costs of fixing an issue or mistake. The new coverage addresses contractor professional …
  
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• New York Police to Step Up Enforcement Over Memorial Day Weekend

  27-05-2016 18:58
  
  The New York State Police and local law enforcement statewide will be stepping up patrols to combat drunk and impaired driving this Memorial Day weekend, New York Gov. Andrew Cuomo announced. Memorial Day is one of the busiest travel holidays …
  
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• PIANY’s Priority Legislation Introduced to Address CE Requirements

  27-05-2016 18:22
  
  The Professional Insurance Agents of New York State Inc. (PIANY) said New York State Assembly has introduced a PIANY-drafted bill (A.10378) that would eliminate the need for agents and brokers to take duplicate continuing-education courses for both their individual and …
  
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• New York Bill Aims to Expand Contraception Insurance Coverage

  27-05-2016 18:22
  
  Advocates, lawmakers, and physicians are calling for the passage of a bill that would provide insurance coverage for all FDA approved contraceptive drugs and products in New York. The Comprehensive Contraception Coverage Act would guarantee co-pay free coverage, allow access …
  
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• USAA to Close Wealth Management Office in Philadelphia

  27-05-2016 18:09
  
  The United Services Automobile Association (USAA) will close a wealth management office located in Philadelphia, effective July 19, according to the Worker Adjustment and Retraining Notification Act notice the company filed this month with the Pennsylvania Department of Labor and …
  
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• NOAA’s 2016 Atlantic Hurricane Season Forecast: 45% Chance of Near-Normal; 30% Above Normal

  27-05-2016 18:06
  
  Forecasters at NOAA’s Climate Prediction Center say the 2016 Atlantic hurricane season, which runs from June 1 through November 30, will most likely be near-normal, but they also say this season is particularly difficult to pin down because there is …
  
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• Axa sells SunLife unit, appoints Olivier to lead P&C business

  27-05-2016 18:05
  
  Axa SA sold its SunLife unit in the U.K. to Phoenix Group Holdings and announced the top-management team that will work with incoming CEO Thomas Buberl when he takes the helm in September.
  
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• Travelers & Novae Join Lloyd’s Construction Consortium; Capacity Rises to $320M

  27-05-2016 18:04
  
  Two insurers, Travelers and Novae, have joined the Construction Consortium at Lloyd’s to offer greatly increased underwriting capacity for the largest construction risks in the world across all major onshore construction and engineering risk categories. The consortium was launched in …
  
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• Missouri Insurance Regulator: Aetna/Humana Plan Would Limit Competition

  27-05-2016 17:57
  
  Missouri’s insurance department has dealt a setback to a proposal by the nation’s third-largest health insurer to buy another insurance company. State Insurance Director John Huff says Aetna’s planned purchase of Humana would sap competition from an already concentrated market. …
  
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• North Dakota Governor: Oil Industry ‘Solid’

  27-05-2016 17:53
  
  North Dakota Gov. Jack Dalrymple told industry and government officials on May 25 that the state’s unprecedented oil boom that made it the economic darling of the nation is far from going bust. “From our perspective, we think that this …
  
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• Arkansas Court Backs $3M Judgment Against Gerber over Workers’ Time

  27-05-2016 17:40
  
  Arkansas’ highest court says a baby food manufacturer must pay more than $3 million to workers for the time they spent dressing and undressing into uniforms and protective gear. The state Supreme Court upheld a lower court’s ruling that Gerber …
  
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• Flooded Homeowners Allege Negligence in Suit Against City of Houston

  27-05-2016 17:38
  
  A citizen’s group and homeowners who have recently suffered repeat flood damage sued Houston, Texas, in federal court, alleging the city backed improvements at a commercial development they say were made without putting in adequate drainage. Residents Against Flooding and …
  
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• Hackers Target SE Asian Banks, Revealing Campaign Against SWIFT Network

  27-05-2016 17:34
  
  Investigators are examining possible computer breaches at as many as 12 banks linked to SWIFT’s global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar …
  
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• Heffernan Names Northington Assistant Vice President in Southern California

  27-05-2016 16:52
  
  Heffernan Insurance Brokers has named Paula Northington assistant vice president of employee benefits in its Orange County, Calif. office. Northington began her career in the financial services industry with Private Ledger Financial Services. She moved into a leadership role at …
  
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• Finally, Private Unemployment Insurance. But Will Anyone Buy It? - New York Times

  27-05-2016 15:19 via nytimes.com
  New York Times
  Finally, Private Unemployment Insurance. But Will Anyone Buy It?
  New York Times
  President Obama wants more of us to have insurance that would make up the difference between a job we might lose and any new, lower-paying one we might take. He said so in his State of the Union address in January. But what if you couldn't get a new ...
  
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• Early Season Storm Could Roil Southeast Coast’s Memorial Day Weekend

  27-05-2016 14:36
  
  A storm that would be named Bonnie threatens holiday cookouts and celebrations along the U.S. coast from North Carolina to Georgia over the Memorial Day weekend. If the low-pressure system now northeast of the Bahamas develops, it will become the …
  
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• With Hurricane Season About to Open, Forecasters Keeping Eye on East Coast

  27-05-2016 14:08
  
  When the Atlantic  hurricane season starts next week, the most active area might just be off the U.S. East Coast. At this time of year, passing cold fronts that linger over waters warmed by the late spring sun can trigger …
  
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• With Hurricane Season About to Open, Forecasters Already Eyeing East Coast

  27-05-2016 14:08
  
  When the Atlantic  hurricane season starts next week, the most active area might just be off the U.S. East Coast. At this time of year, passing cold fronts that linger over waters warmed by the late spring sun can trigger …
  
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• What to watch out for over Memorial Day weekend

  27-05-2016 13:45
  
  Here are some statistics to remember and share with employees and clients about the holiday that kicks off summer.
  
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• New challenge for enterprise risk management

  27-05-2016 13:15
  
  By addressing knowledge gaps, we can minimize educational risks for our organizations while ensuring that our industry is learning and evolving to meet our customers’ needs.
  
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• Ropner Insurance Services Appoints 6 New Brokers as Part of Ongoing Expansion

  27-05-2016 13:14
  
  Ropner Insurance Services Ltd., the Lloyd’s and London market broker, has appointed six new brokers as part of its ongoing expansion, following the Global Risk Partners Ltd.-backed management buyout last year: Gary Watson and Stewart Alliston have joined the international …
  
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• 6 parking lot perils property owners need to pay attention to

  27-05-2016 13:00
  Owners of multi-family properties don’t always give proper attention to where residents and visitors park. And that could be a costly mistake.
  
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• Jury Sides with Google; Oracle Loses $9 Billion Copyright Claim

  27-05-2016 12:47
  
  Google won a jury verdict that kills Oracle Corp.’s claim to a $9 billion slice of the search giant’s Android phone business. Oracle contended that Google needed a license to use its Java programming language to develop Android, the operating …
  
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• AXA Sells SunLife, Names Top Team Including Harlin as CFO, Olivier to Lead P/C

  27-05-2016 12:42
  
  AXA SA sold its SunLife unit in the U.K. to Phoenix Group Holdings and announced the top-management team that will work with incoming Chief Executive Officer Thomas Buberl when he takes the helm in September. Gerald Harlin will become group …
  
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• Towergate Launches Specialty London Markets U/W Division; 2 DUAL Execs Hired

  27-05-2016 10:51
  
  Towergate Underwriting has formed a Specialty London Markets underwriting division, by hiring two market leading talents in this important and undeveloped specialist opportunity for the group. John Murphy and Glenn Marshall will join upon leaving DUAL, an international underwriting agency, …
  
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• Credit Suisse Sells Operational Risk Bonds, Insuring Rogue Trading, Cyber Crime

  27-05-2016 10:22
  
  Credit Suisse Group AG sold 220 million Swiss francs ($222 million) of bonds designed to offload potential losses on events like rogue trading, with some investors sidestepping the issue because of the incalculable risk. The second-largest Swiss lender initially planned …
  
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• Liability Insurer Accuses Surgical Robot Maker of Hiding Injury Claims

  27-05-2016 08:00
  
  It’s health insurers’ cardinal rule: disclose pre-existing conditions. Now comes a case in which that familiar decree involves not a patient, but rather a $1.5 million surgical robot known as the da Vinci system. Two insurance companies say da Vinci’s …
  
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• Hurricane Center Updating Storm Surge Maps for North Carolina’s Outer Banks

  27-05-2016 07:28
  
  New storm surge maps for the Outer Banks of North Carolina will be available this summer. The Virginian-Pilot of Norfolk reported that the National Hurricane Center will release the maps to predict where and how deep flooding would be in …
  
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• Texas’ Coastal Wind Insurer Expects $4.9B in Funds for 2016 Hurricane Season

  27-05-2016 07:18
  
  While its reinsurance plans for the 2016 hurricane season haven’t yet been nailed down, Texas’ insurance company of last resort for wind and hail along the Texas coast expects to have around $4.9 billion in available funds for paying claims …
  
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• Unsealed Records Show Drug Firms Flooded Rural West Virginia With Painkillers

  27-05-2016 07:13
  
  Information about pill shipments that prescription drug distributors being sued by the state had sought to keep secret show that the firms flooded rural West Virginia with hundreds of thousands of painkillers. The Charleston Gazette-Mail reports a Boone County judge …
  
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• Judge: Plaintiffs in University of Tennessee Discrimination Suit Owed $460K in Fees

  27-05-2016 06:56
  
  A federal judge has recommended that former Tennessee associate director of sports medicine Jenny Moshak and two ex-Lady Volunteers strength coaches should recover more than $460,000 in attorneys’ fees as part of the settlement in their lawsuit against the university. …
  
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• Oklahoma Insurance Regulators: No Authority to Approve ACA Rate Hikes

  27-05-2016 02:53
  
  The Oklahoma Insurance Department does not have statutory authority to approve or deny rate increases filed by insurers on the federal health insurance exchange, state regulators say. Oklahoma, along with Texas, Missouri, Alabama and Wyoming, is a direct enforcement state …
  
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• Indiana Department of Insurance Approves Anthem’s Cigna Acquisition

  27-05-2016 02:48
  
  The health insurer Anthem Inc. announced it has received approval from Indiana Department of Insurance Commissioner Stephen W. Robertson for the acquisition of Cigna HealthCare of Indiana Inc., a subsidiary of Cigna Corp. On July 23, 2015 Anthem and Cigna …
  
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• Medical Marijuana Legalization Bill Closer to Passage in Ohio

  27-05-2016 02:46
  
  A proposal to legalize medical marijuana in Ohio has squeaked through a critical Senate panel over opposition of some Republicans and Democrats. The Senate Government Oversight & Reform Committee’s 7-to-5 vote sets the stage for probable passage of the bill …
  
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• Sanchez Appointed Vice President at Texas-Based LevelFirst

  27-05-2016 02:44
  
  LevelFirst, the wholesale broker and MGA binding facility owned by IIAT Services Co., has named Kelley Sanchez as vice president. Sanchez will underwrite new business opportunities with the Transportation Division. She has more than 10 years’ experience in the industry. Sanchez …
  
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• Stortzum Joins Alliant’s ProQuest Division in Chicago

  27-05-2016 02:42
  
  Lawyers professional liability specialist Nate Stortzum has joined the ProQuest division of Alliant Insurance Services as vice president. Stortzum is based in Chicago Prior to joining ProQuest, Stortzum was Midwest regional manager for the IronPro division of Ironshore. There, he was …
  
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• What University of Washington’s Climate Risk and Insurance Summit Has in Common with Paris

  27-05-2016 00:36
  
  It may not be a climate change summit for the ages like last year’s Paris meeting in which world leaders hashed out a historic agreement to reduce carbon emissions, but it does have two things in common with the 2015 United …
  
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• Washington Summit Inserts Insurance Industry into Climate Change Discussion

  27-05-2016 00:36
  
  It may not be a climate change summit for the ages like last year’s Paris meeting in which world leaders hashed out a historic agreement to reduce carbon emissions, but it does have two things in common with the 2015 United …
  
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