Insurance news

• Atlantic becomes test tube for competing hurricane theories

  03-06-2016 22:25
  
  There are competing hypotheses for what has been happening in the Atlantic for the past 20 years.
  
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• People on the move in the P&C insurance industry: June 3, 2016

  03-06-2016 22:05
  
  News from Assurant, Liberty Mutual, Zurich and more.
  
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• AIG and Prudential face new capital rules under Fed proposal

  03-06-2016 21:28
  
  The Fed’s plan subjects AIG and Prudential to a narrow set of categories by which they would have to measure the riskiness of their assets.
  
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• Executive Suicides Shock Swiss Business Community

  03-06-2016 20:37
  
  An unusual number of suicides by top executives in Switzerland has prompted introspection in its business community over how senior managers are dealing with stress as its companies struggle to retain their status in the global economy. The death last …
  
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• Honeywell warns of increasing attacks by state-sponsored hackers

  03-06-2016 20:28
  
  Hackers are increasingly targeting industrial facilities, from oil refineries to nuclear power plants, with sophisticated attacks aimed at capturing data and remotely controlling the sites.
  
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• Ratings of Michigan Professional Insurance Exchange Upgraded

  03-06-2016 20:26
  
  A.M. Best has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit rating to “a-” from “bbb+” of Michigan Professional Insurance Exchange (MPIE) in Grand Rapids, Mich. The outlook for each rating has been revised to stable …
  
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• Lloyd’s of London warns 34,000 jobs at risk if Britain exits EU

  03-06-2016 20:00
  
  Underwriters have been making contingency plans to relocate, while international capital is expected to leave for more trade-friendly jurisdictions.
  
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• Possible tropical system forecast to menace Florida next week

  03-06-2016 19:25
  
  The second tropical storm in about a week may be threatening Florida by Monday if conditions keep deteriorating in the western Caribbean Sea.
  
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• Mississippi Business Owner Sentenced to 5 Years for Arson

  03-06-2016 18:58
  
  The owner of a construction company in Pascagoula has been sentenced to five years in prison for conspiring to set fire to his business. The Sun Herald reports  a judge also fined 53-year-old Michael Eugene Slater and ordered him to …
  
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• Highmark, Aetna Request Substantial Rate Hikes in Delaware

  03-06-2016 18:58
  
  Delaware Insurance Commissioner Karen Weldin Stewart announced Thursday that she has received rate request filings from Highmark Blue Cross Blue Shield of Delaware, Aetna Inc. and Aetna Life for individual and small group plans to be offered on Delaware’s Health …
  
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• Texas Health Underwriters Awarded Blue Ribbon of Excellence

  03-06-2016 18:51
  
  The Texas Association of Health Underwriters has been recognized with the Blue Ribbon of Excellence Award from the National Association of Health Underwriters. Texas was recognized for this award as part of NAHU’s Chapter Certification Program, which is an ongoing …
  
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• Georgia Teen Accused of Crashing While Snapchatting Faces Suit, Criminal Charges

  03-06-2016 18:49
  
  A teenage driver accused in a lawsuit of causing a collision in Georgia while using the Snapchat app’s “speed filter” is now facing criminal charges. News outlets report a Clayton County judge signed arrest warrants Wednesday for 19-year-old Christal McGee, …
  
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• NFP Acquires Minnesota’s Benefits Solutions Plus

  03-06-2016 18:43
  
  Insurance broker and consultant, NFP Corp. announced it has acquired Benefits Solutions Plus Inc. (BSP), based in Anoka, Minn. BSP is a benefits brokerage that specializes in providing group health plans and ancillary products for small – to mid-size employers. …
  
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• North Carolina Reminds Moped Owners of Upcoming Insurance Requirement

  03-06-2016 18:41
  
  The North Carolina Division of Motor Vehicles has sent a second notice to moped owners reminding them of the new law requiring them to be insured beginning in July. Moped owners must provide DMV with proof of liability insurance coverage …
  
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• Worldwide Facilities Appoints Moulder as VP, Adds Transportation Markets

  03-06-2016 18:37
  
  Worldwide Facilities, LLC, a nationwide wholesale brokerage and managing general agent, has appointed Chris Moulder as vice president and broker at its Atlanta office, bringing expanded access to commercial auto and transportation markets. Moulder has 13 years of transportation and …
  
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• Lawsuit Blames Death on Salad, Listeria Outbreak at Ohio Dole Plant

  03-06-2016 18:33
  
  A new wrongful death lawsuit alleges an Ohio woman died because she ate salad processed at a Dole plant linked to a listeria outbreak. The Springfield News-Sun reports the lawsuit says a 79-year-old Franklin County woman died in February after …
  
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• Oklahoma Bill Aimed at Uninsured Drivers Awaits Governor Signature

  03-06-2016 18:31
  
  A bill awaiting Gov. Mary Fallin’s signature would authorize Oklahoma district attorneys and law enforcement agencies to contract for the use of cameras and automated license plate readers to enforce the state’s compulsory insurance law. The bill recently passed the …
  
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• UnitedHealthcare Leaving Illinois Insurance Exchange

  03-06-2016 18:29
  
  A company spokeswoman says UnitedHealthcare is pulling out of the Affordable Care Act insurance marketplace in Illinois. Maria Gordon Shydlo of UnitedHealthcare says the company will not offer individual exchange plans in the state in 2017. The company previously told …
  
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• Frias Named President of Austin Association of Insurance Professionals

  03-06-2016 18:28
  
  The Austin Association of Insurance Professionals installed Janie Frias of Risk Placement Services as its president for the coming year. Frias and other officers and directors were affirmed on May 17 at the AAIP’s annual installation dinner. AAIP officers for 2016/2017 …
  
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• Texas Coast Wind Insurer: Position for Hurricane Season Is ‘Strongest-Ever’

  03-06-2016 18:15
  
  With its reinsurance program now in place, the Texas Windstorm Insurance Association (TWIA) says it is in its strongest-ever position for this year’s hurricane season with $4.9 billion in total funding available to pay claims. TWIA is the insurance carrier …
  
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• Abacus Insurance Brokers Launches Professional Small Business Program

  03-06-2016 18:12
  
  Abacus Insurance Brokers, Inc., a Los Angeles-based program manager that distributes specialty insurance products online, has launched its online Professional Small Business Program. The program provides general liability, errors & omissions, inland marine and workers compensation for 120 classes of …
  
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• NYC Drivers Group Sues Uber Over Independent Contractor Classification

  03-06-2016 17:56
  
  A group representing 5,000 Uber Technologies Inc drivers in New York City filed a lawsuit on Thursday accusing the ride-share company of depriving drivers of various employment protections by misclassifying them as independent contractors. The proposed class action lawsuit filed …
  
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• Hub’s Program Brokerage Corporation Hires Fry as Assistant VP in NYC

  03-06-2016 17:11
  
  Program Brokerage Corporation, a wholesale brokerage/managing general agency (MGA) and a subsidiary of Hub International Northeast, has hired Matthew Fry as assistant vice president. Based in the New York City office, Fry will be the direct contact for retail brokers …
  
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• EPIC Names Leventhal Vice President in Employee Benefits in California

  03-06-2016 16:56
  
  EPIC Insurance Brokers & Consultants has named Eric Leventhal a vice president in its employee benefits consulting practice. Leventhal will be based in San Francisco and report to John Connell, president of employee benefits for California. He has 30 years of …
  
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• Judge Questions Lyft’s Revised Pay Deal with California Drivers

  03-06-2016 16:47
  
  Lyft Inc. may have more work to do to win court approval of a settlement with 163,000 California drivers who sued to be treated as employees. U.S. District Judge Vince Chhabria in San Francisco on Thursday indicated he’s hesitant to …
  
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• Church Mutual Completes Acquisition of SBIC, SCS in Pennsylvania

  03-06-2016 16:45
  
  Church Mutual Insurance Company, a Merrill, Wisconsin-based insurer of religious organizations, announced that it has completed on June 1 its acquisition of School Boards Insurance Company of Pennsylvania Inc. (SBIC) and School Claims Services (SCS). SBIC and SCS were previously …
  
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• Want More People to Have Health Insurance? Look to Louisiana - Bloomberg

  03-06-2016 16:15 via bloomberg.com
  
  Bloomberg
  Want More People to Have Health Insurance? Look to Louisiana
  Bloomberg
  Editorials are written by the Bloomberg View editorial board. For more information, go to http://www.bloombergview.com/editors. Read More. June 3, 2016 10:00 AM EDT. a | A. By. Editorial Board. Six years after Obamacare became law, some 30 million ...
  
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• Lying About Gulf Oil Spill Size to Investors to Cost BP $175M

  03-06-2016 15:33
  
  BP Plc said it agreed to pay $175 million to settle claims by U.S. investors that its managers lied about the size of the 2010 Gulf of Mexico oil spill to prop up its stock price, removing the company’s last …
  
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• Thousands of banking and insurance jobs for the chop if UK leaves EU, firms warn - Telegraph.co.uk

  03-06-2016 15:07 via telegraph.co.uk
  
  Telegraph.co.uk
  Thousands of banking and insurance jobs for the chop if UK leaves EU, firms warn
  Telegraph.co.uk
  Giant US investment bank JP Morgan could cut British jobs if voters decide to leave the EU, while insurance market Lloyds of London has warned Brexit could put thousands of financiers out of work. "A material number" of the 34,000 jobs in the London ...and more »
  
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• Should You Buy Travel Insurance? - U.S. News & World Report

  03-06-2016 15:05 via travel.usnews.com
  U.S. News & World Report
  Should You Buy Travel Insurance?
  U.S. News & World Report
  Take stock of your current coverage before deciding if you want to roll the dice. Travel insurance concept with hand holding information leaflet. Do your homework before buying insurance. By Liz Weiss June 3, 2016, at 9:00 a.m. + More. Sometimes, the ...
  
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• Critics of Uber’s $100M Driver Settlement Have Day in Court

  03-06-2016 14:15
  
  Uber Technologies Inc. may have to return to the bargaining table to show just how badly it wants to avoid a jury trial with drivers demanding to be treated as employees. The world’s largest rideshare company faced off in court …
  
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• Future of London Market Threatened by ‘Brexit’, Warn Market Leaders

  03-06-2016 13:53
  
  Brexit poses a grave threat to London’s insurance jobs and businesses, according to the International Underwriting Association of London (IUA), Lloyds, and Richard Brindle, group chief executive officer of Fidelis. In a position paper published today, these market leaders warned …
  
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• How long will congressional action be generally favorable?

  03-06-2016 13:45
  
  Threats to state regulation loom from both the U.S. and EU governments.
  
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• Britain's insurance sector warns of business shift under a Brexit - euronews

  03-06-2016 13:27 via euronews.com
  
  euronews
  Britain's insurance sector warns of business shift under a Brexit
  euronews
  LONDON (Reuters) – European Union insurance business written from London would shift to the continent if Britain votes to leave the bloc in a June 23 referendum on EU membership, industry groups said on Friday. Around 16 percent of London's insurance ...and more »
  
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• Consumer Group Demands Insurance Commissioner Recuse Herself On Cigna Merger - Hartford Courant

  03-06-2016 13:15 via courant.com
  
  Hartford Courant
  Consumer Group Demands Insurance Commissioner Recuse Herself On Cigna Merger
  Hartford Courant
  Washington – A consumer group says Gov. Dannel P. Malloy should avoid "going back to the days of Corrupticut" and replace Insurance Commissioner Kathleen Wade as the key state regulator on a proposed mega-merger between Anthem and Cigna ...
  Connecticut Groups Call For Dan Malloy To Remove Insurance Regulator In Anthem-Cigna MergerInternational Business Timesall 11 news artic
  
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• 5 simple ways to use e-mail to build relationships and grow sales

  03-06-2016 13:15
  
  Go beyond just sending clients your company’s latest content. Offer something of value to them as an individual.
  
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• Top 5 most common workplace accidents and injuries

  03-06-2016 13:00
  
  Here are the the most common workplace accidents and injuries, according to the "Injury Impact Report" from Travelers
  
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• Liberty Mutual Announces 3 Commercial Insurance Leadership Appointments - Insurance Journal

  03-06-2016 12:44 via insurancejournal.com
  
  Zimbabwe Independent
  Liberty Mutual Announces 3 Commercial Insurance Leadership Appointments
  Insurance Journal
  Mike Fallon is appointed president, National Insurance, which helps large and specialized businesses with risk management. Steve McAnena is appointed president, Business Insurance, which serves small and mid-size accounts. Tracy Ryan is appointed ...
  Liberty Mutual execs move up the ranksBusiness Insuranceall 5 news articles »
  
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• Liberty Mutual Announces 3 Commercial Insurance Leadership Appointments

  03-06-2016 12:44
  
  Liberty Mutual  announced three senior appointments to its Commercial Insurance operating unit. Mike Fallon is appointed president, National Insurance, which helps large and specialized businesses with risk management.  Steve McAnena is appointed president, Business Insurance, which serves small and mid-size …
  
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• Financial Industry Files Suit Against Obama Fiduciary Standard for Retirement Plan Brokers

  03-06-2016 12:38
  
  Wall Street and business lobbying groups have teamed up to fight the Obama administration’s new rules for U.S. brokers managing retirement accounts, saying the regulations include a ” deliberately unworkable” fiduciary standard. The U.S. Chamber of Commerce joined groups including …
  
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• SpaceX and insurance underwriters will discuss risks of reusing rockets - Los Angeles Times

  03-06-2016 12:08 via latimes.com
  
  Los Angeles Times
  SpaceX and insurance underwriters will discuss risks of reusing rockets
  Los Angeles Times
  Now that SpaceX has made rocket landings somewhat routine, the next step is to prepare the recovered rockets for reuse to launch commercial satellites. Some of the technical hurdles it must clear also have financial implications. In the next two weeks ...and more »
  
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• Rate hikes possible for GA insurance customers - 11alive.com

  03-06-2016 11:50 via 11alive.com
  
  11alive.com
  Rate hikes possible for GA insurance customers
  11alive.com
  Humana customers may see their insurance premiums soar next year as the insurance company is still struggling with the Affordable Care Act. (Photo: 11Alive). CONNECT TWEET LINKEDIN GOOGLE+ PINTEREST. Humana customers may see their ...
  
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• House OKs Repeal Of Inadvertent Auto Insurance Tax Credit - CBS Local

  03-06-2016 11:50 via detroit.cbslocal.com
  
  CBS Local
  House OKs Repeal Of Inadvertent Auto Insurance Tax Credit
  CBS Local
  LANSING (AP) – The Legislature is close to repealing an annual tax break worth tens of millions of dollars that was inadvertently given to auto insurers four years ago, a move agreed to as part of a state budget deal. The Republican-led House late ...and more »
  
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• Swiss Re Corporate Solutions Launches Cyber Risk Insurance Product in UK - Insurance Journal

  03-06-2016 11:45 via insurancejournal.com
  
  Swiss Re Corporate Solutions Launches Cyber Risk Insurance Product in UK
  Insurance Journal
  Swiss Re Corporate Solutions expands its cyber offering with the launch of CyberSolutions UK, a market-specific, primary insurance product. This cyber risk protection solution “provides tailored coverage to mid-sized and large companies, enabling them ...
  
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• Swiss Re Corporate Solutions Launches Cyber Risk Insurance Product in UK

  03-06-2016 11:45
  
  Swiss Re Corporate Solutions expands its cyber offering with the launch of CyberSolutions UK, a market-specific, primary insurance product. This cyber risk protection solution “provides tailored coverage to mid-sized and large companies, enabling them to defend themselves against increasingly sophisticated …
  
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• PERILS Revises Loss Estimate for UK Floods from Storm Desmond to $861.4M

  03-06-2016 11:24
  
  The insured property loss estimate for floods that hit the UK from Dec. 4 to 24, 2015, following Storm Desmond and other low pressure systems, has been revised to £597 million ($861.4 million), according to PERILS, the independent Zurich-based organization …
  
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• Beazley Appoints Crux Risk to Provide Kidnap and Crises Response Services

  03-06-2016 10:38
  
  Beazley, the London-based provider of specialist insurance cover, has retained Crux Risk* to provide preventative and response services to clients facing kidnaps or other threats to their personnel. “The Crux team brings extensive experience handling some of the most complex …
  
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• JLT Re Hires Marc-Antonio as Global Head of Client Relationship Management

  03-06-2016 09:58
  
  JLT Re, the reinsurance broking and consultancy, has appointed Francesca Marc-Antonio as global head of Client Relationship Management. This new role will see Marc-Antonio become a member of the JLT Re Global Executive Committee, working closely with her senior colleagues …
  
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• EDITORIAL: Give shooter's insurance money to terror victims - Press-Enterprise

  03-06-2016 09:06 via pe.com
  
  EDITORIAL: Give shooter's insurance money to terror victims
  Press-Enterprise
  Six months after the horrible, deadly terrorist attack in San Bernardino, some resultant financial issues have to be dealt with. Two public officials got it right Tuesday. State Sen. Connie Leyva, D-Chino, watched her legislation to make the city and ...
  
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• Could adopting this dog bump up your homeowner's insurance? - New Jersey 101.5 FM Radio

  03-06-2016 08:09 via nj1015.com
  
  New Jersey 101.5 FM Radio
  Could adopting this dog bump up your homeowner's insurance?
  New Jersey 101.5 FM Radio
  If you're planning to get a dog, you would probably imagine adding a pit bull to your family would increase the cost of your homeowner's insurance policy more than a poodle or a mutt, but it turns out that's not necessarily the case. “It might, it may ...
  
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