Insurance news

• Ratings Downgrades for Members of California-based CSAA: A.M. Best

  08-06-2016 22:13
  
  A.M. Best has downgraded the financial strength rating to A (Excellent) from A+ (Superior) and the issuer credit ratings to “a+” from “aa-” of the members of Walnut Creek, Calif.-based CSAA Insurance Group. CSAA is an American Automobile Association Inc. …
  
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• Toyota says 2014-2016 Lexus models need software fix at dealers

  08-06-2016 19:50
  
  Owners of 2014-2016 Lexus luxury vehicles in the U.S. need to go to dealerships for a fix to software that can disable navigation, audio and climate control systems.
  
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• Insurers making tough decisions about distribution

  08-06-2016 19:45
  
  Pace of change is pushing insurers to have wholly digital sales process within the next few years.
  
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• Lawsuit Seeks to Have Philadelphia Replace Lead Service Pipes

  08-06-2016 18:59
  
  A Philadelphia woman filed a lawsuit seeking to have the city replace all lead service pipes running into homes from water mains and pay for a lead medical monitoring program. The lawsuit, filed on June 2 by Eleni Delopoulos, alleged …
  
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• Arkansas Emergency Official Likes FEMA’s Disaster Deductible Proposal

  08-06-2016 18:42
  
  Arkansas’ emergency management director said he favors a proposal from the Federal Emergency Management Agency that gives states disaster “deductibles” as an incentive for the state to be better prepared for natural disasters. FEMA’s proposal would give states deductibles to …
  
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• John Yurconic Agency Acquires Hazleton Insurance in Pennsylvania

  08-06-2016 18:36
  
  John Yurconic Agency, an independent agency based in Allentown, Pennsylvania, announced that it has acquired Hazleton Insurance Center in Hazleton, Pennsylvania. Terms of the transaction were not disclosed. Founded in 1969, John Yurconic Agency offers a wide range of insurance …
  
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• Judge Rules Against Ex-Louisiana Police Chief in Sex Assault Case; Town’s Liability Uncertain

  08-06-2016 18:34
  
  A small community in Louisiana disbanded its troubled police force more than a year ago, but the town hasn’t shaken a scandal that fueled the department’s collapse and ousted its elected police chief. A federal judge ruled on June 5 …
  
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• Doak Deems Oklahoma Earthquake Insurance Market ‘Noncompetive,’

  08-06-2016 18:30
  
  Oklahoma’s top insurance regulator has determined that there’s a definite lack of competition in the earthquake insurance market in Oklahoma and ordered insurers to change the way they file rates for the coverage in the state. Commissioner John D. Doak’s order …
  
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• U.S. Treasury Unit Reviews Fosun’s Acquisition of Ironshore

  08-06-2016 18:29
  
  U.S. authorities are conducting a review of China’s Fosun Group’s acquisition in November 2015 of Bermuda-based insurer Ironshore. The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Department of the Treasury, regularly conducts company reviews …
  
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• Assurant, MyDigitalShiled to Offer Small Business Data Breach Support

  08-06-2016 18:28
  
  Assurant, Inc. has teamed up with cybersecurity specialist MyDigitalShield to help protect small businesses against losses from data breaches. Assurant will provide support for MyDigitalShield’s data breach guarantee, accompanying MDS’ cybersecurity technology protecting small businesses against the costs associated with …
  
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• Connecticut Reviewing Health Insurers’ Rate Hike Requests

  08-06-2016 18:23
  
  Connecticut’s Department of Insurance is reviewing rate increase requests filed by 14 health insurance companies that range on average from 2.1 percent to 32 percent. The private plans, offered on and off the state’s health insurance exchange, provide coverage to …
  
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• Wieske Appointed Deputy Insurance Commissioner in Wisconsin

  08-06-2016 18:17
  
  Wisconsin Commissioner of Insurance Ted Nickel has appointed J.P. Wieske appointed as deputy commissioner. He previously served as legislative liaison and public information officer for the Office of the Commissioner of Insurance (OCI). Wieske has more than 20 years of …
  
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• Missouri Insurance Agent Sentenced to 7 Years in Prison for Fraud

  08-06-2016 18:12
  
  A Missouri insurance agent has been sentenced to prison for fraud following an investigation by the McDonald County Sheriff’s Office and the Missouri Department of Insurance, Financial Institutions & Professional Registration (DIFP). Southwest Missouri insurance producer Brandon Gene Francisco was …
  
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• 6 keys to optimizing claims performance

  08-06-2016 18:01
  
  Utilizing the right combination of technology and analytics can improve claim outcomes
  
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• Westfield Insurance’s Prandi to Chair NICB Board

  08-06-2016 17:44
  
  The National Insurance Crime Bureau (NICB) announced that Mike Prandi of Ohio-based Westfield Insurance has been elected to a two-year term as chairman of the board of governors. Prandi, named insurance operations leader at Westfield in 2015, has been a member of the National …
  
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• Tornado rips through Hamburg, damaging houses and power supply

  08-06-2016 17:30
  
  A tornado tore through the northeast of Hamburg on Tuesday evening, blowing off the roofs of several buildings, uprooting dozens of trees and damaging cars and a power line.
  
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• Penn State Seeks Appeal in Sandusky Claims Coverage Dispute

  08-06-2016 17:23
  
  Penn State wants permission to appeal a judge’s ruling denying it insurance coverage for certain child sexual abuse claims related to former assistant football coach Jerry Sandusky. The Legal Intelligencer said Monday university lawyers filed a motion last week seeking …
  
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• Oregon Woman Settles Suit over Abuse by Insurance Agent Father

  08-06-2016 17:22
  
  A Eugene, Ore. woman who sued her adopted parents after disclosing that her father sexually abused her has agreed to settle the civil case. The Register-Guard reports that according to documents filed in Lane County Circuit Court last week the …
  
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• Detectives Probe Arson Attempt at Kardashian Boutique in Southern California

  08-06-2016 17:17
  
  Los Angeles County sheriff’s detectives in California are investigating a suspected arson attempt at the West Hollywood DASH clothing boutique owned by the Kardashian sisters. Lt. Edward Ramirez says a witness reported seeing a man throw a flaming object through …
  
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• Confie Acquires Auto Dealer POS Provider ExpressLink in California

  08-06-2016 17:03
  
  Confie has acquired ExpressLink Inc., a Calabasas, Calif.-based provider of auto dealer point of sale insurance and related products and services. Terms of the deal were not disclosed. Brian Murphy will continue as president of ExpressLink. Huntington Beach, Calif.-based Confie …
  
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• AIG’s Homand Joins Ironshore as Global Property Chief Underwriter

  08-06-2016 16:21
  
  Ironshore Inc. has named Shawn Homand as chief underwriting officer of Global Property to oversee underwriting responsibilities and global product growth strategies throughout Ironshore’s property platform. Homand’s professional career spans 30 years in various regional management and underwriting positions for …
  
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• PE-backed Confie buys car insurance provider ExpressLink - PE Hub (subscription) (blog)

  08-06-2016 16:17 via pehub.com
  PE-backed Confie buys car insurance provider ExpressLink
  PE Hub (subscription) (blog)
  Confie, which is backed by ABRY Partners, has acquired ExpressLink Inc, a provider of car insurance. No financial terms were disclosed. PRESS RELEASE. HUNTINGTON BEACH, CA, June 8, 2016 – Confie, a national provider of personal and commercial ...and more »
  
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• Insurance Industry Executive and Technology Expert Joel Conrad Joins SiSi Group as Partner and Principal - Business Wire (press release)

  08-06-2016 15:00 via businesswire.com
  
  Insurance Industry Executive and Technology Expert Joel Conrad Joins SiSi Group as Partner and Principal
  Business Wire (press release)
  DALLAS--(BUSINESS WIRE)--Strategic Insurance Systems Initiatives Group (SiSi Group), an insurance technical staffing and support firm, today announced that Joel Conrad has joined the SiSi team as a partner and principal. Conrad will take on the program ...and more »
  
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• Homeowners Should Reevaluate Insurance Coverage As Hurricane Season - Nasdaq

  08-06-2016 14:39 via nasdaq.com
  
  Nasdaq
  Homeowners Should Reevaluate Insurance Coverage As Hurricane Season
  Nasdaq
  All homeowners should reevaluate their insurance coverage every year, especially those affected by tropical storms. It's possible their deductibles have changed, the cost of their premiums is going up or they could be eligible for new discounts. And ...and more »
  
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• 10 people die every day during the summer from a crash involving a teen driver

  08-06-2016 14:15
  
  Just in time for summer and increased teen driving, the AAA Foundation for Traffic Safety has released a study confirming that nearly 60% of teen crashes involve distractions behind the wheel.
  
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• Casualty Actuarial Society Honors 4 Universities

  08-06-2016 14:05
  
  The Casualty Actuarial Society (CAS) has selected four universities to receive the 2016 CAS University Award, an honor created to recognize schools doing exemplary work in preparing students for a career in the property/casualty insurance industry. The schools honored in …
  
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• Fianna Fáil calls for motor insurance taskforce - Newstalk 106-108 fm

  08-06-2016 14:01 via newstalk.com
  
  Newstalk 106-108 fm
  Fianna Fáil calls for motor insurance taskforce
  Newstalk 106-108 fm
  The party is calling for an motor insurance taskforce to be established to investigate the current situation. Fianna Fáil is also demanding the creation of a new National Claims Register to force insurance companies to publish anonymised details of all ...
  Insurance firms defend themselves on accusations about secret compensation settlements being linked to soaring ...Irish Independent
  McGrath
  
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• Insurance Company & Re-Insurance Company Outside Counsel and Policy Holder Counsel Hourly Rate Report 2017 ... - Business Wire (press release)

  08-06-2016 13:56 via businesswire.com
  
  Insurance Company & Re-Insurance Company Outside Counsel and Policy Holder Counsel Hourly Rate Report 2017 ...
  Business Wire (press release)
  The Insurance Company & Re-Insurance Company Outside Counsel and Policy Holder Counsel Hourly Rate Report 2017 details the Legal Fees paid by the largest insurance companies worldwide - AFLAC, Allstate, Fidelity, Hartford, Lexington, Liberty, ...and more »
  
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• Victory for tiered insurance plans in NJ - NorthJersey.com

  08-06-2016 13:36 via northjersey.com
  
  NJ Spotlight
  Victory for tiered insurance plans in NJ
  NorthJersey.com
  A state court on Tuesday ruled that New Jersey acted properly when it approved a bid by the New Jersey largest insurer to divide hospitals and doctors into a two-tiered health plan, dismissing arguments by 10 of the second-tier hospitals that the plan ...
  Horizon Blue Cross Wins Round On Controversial Tiered Insurance PlanNJ Spotlight
  Blocked by Sweeney support of Horizon, lawmakers OK weaker insurance regulationNJ.comall 20
  
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• Are you selling the wrong type of insurance?

  08-06-2016 13:30
  
  Here are three basic questions you can ask on every appointment that will offer great insight into someone’s heart.
  
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• Insurance agents get more transparent - Business Standard

  08-06-2016 13:25 via business-standard.com
  
  Business Standard
  Insurance agents get more transparent
  Business Standard
  Those looking to buy a life insurance policy can now ask agents how much commission will be paid from the premium and the agent will have to disclose the same. Earlier, this was applicable for unit-linked insurance plans (Ulips). In addition, customers ...
  IRDAI proposes norms to sell insurance through e-commerceTimes of India
  Irdai proposes norms for selling insurance onlineLivemintall 5 news articles »
  
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• Tornado Hits Hamburg – Latest in Europe’s Destructive Summer Storms

  08-06-2016 13:23
  
  A tornado tore through the northeast of Hamburg on Tuesday evening, blowing off the roofs of several buildings, uprooting dozens of trees and damaging cars and a power line as storms that have raged across Europe this month continue to …
  
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• Chubb Offers Package Policy for UK & Ireland Middle Market Firms

  08-06-2016 12:53
  
  Chubb has launched a comprehensive single property and liability package insurance policy for middle market businesses in the UK and Ireland. “MasterPackage” is designed to meet the needs of UKI business with domestic and/or international operations and a turnover of …
  
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• Congress Passes Bill Updating Chemical Safety Law

  08-06-2016 12:39
  
  The U.S. Senate passed legislation on Tuesday that would revamp federal chemical safety protections for the first time in decades, sending it to President Barack Obama for his expected signing into law. The Senate approved the measure that was overwhelmingly …
  
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• Court Hears Appeal of Expanded Joint Employer Liability Rule

  08-06-2016 12:35
  
  A California waste management company at the center of a closely watched case told a U.S. appeals court on Tuesday that the new U.S. labor board standard for “joint employment” is so broad and vague that it makes it impossible …
  
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• Insured Losses from Australia’s Storms Rise to $41.6M

  08-06-2016 12:31
  
  The Insurance Council of Australia (ICA) has expanded the footprint of the latest insurance catastrophe to include the east coast of Victoria and Tasmania’s northern and eastern coastlines. The declaration increases the insurance claims and losses attributable to the severe …
  
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• Republican Plan Would Scrap Much of Dodd-Frank Financial Regulation

  08-06-2016 12:28
  
  The chair of the U.S. House Financial Services Committee has proposed getting rid of much of the regulation put in place after the financial crisis, unveiling a plan on Tuesday that ignited fierce debate in the presidential election but is …
  
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• How to Avoid D&O Policy Pitfalls – and Declined Claims: Marsh Report

  08-06-2016 12:02
  
  When a directors and officers (D&O) claim is declined, it can be catastrophic for an insured, forcing the company to deal with “the financial costs of a claim or loss entirely on its own,” according to a report published by Marsh. …
  
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• Former Quikr employees make the process of buying insurance policy easy and quick - YourStory.com

  08-06-2016 11:03 via yourstory.com
  
  YourStory.com
  Former Quikr employees make the process of buying insurance policy easy and quick
  YourStory.com
  While popular advertisements today advise users to compare insurances and different policies before opting for one, many are yet to determine the difference between the policies and what actually suits their needs. Dhirendra Mayhavanshi, Co-founder of ...
  
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• UK company launches insurance policy for autonomous cars - Gizmag

  08-06-2016 09:27 via gizmag.com
  
  Gizmag
  UK company launches insurance policy for autonomous cars
  Gizmag
  When two human drivers have an accident, blame is apportioned and the appropriate person's insurance pays for things to get fixed. But things get a bit trickier when self-driving cars are involved, especially when you get into the nitty gritty of ...
  UK gets first insurance policy for driverless carsInquirer
  World's First Driverless Car Insurance Policy Launched In The UKInternational Business Times
  Norfolk firm pioneers ins
  
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• Rivera to Lead RGL Forensics’ Miami Team

  08-06-2016 08:09
  
  RGL Forensics, a financial investigations company specializing in the insurance, legal and corporate markets globally, has opened a new Miami office, which will serve as a hub for its growing business in the Latin American market and across the U.S. …
  
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• West Virginia University Says 5-Year Fracking Study Off to Successful Start

  08-06-2016 07:58
  
  Those involved in a West Virginia University fracking project are praising its success after the first year. The Exponent Telegram reports WVU began the Marcellus Shale Energy Environmental Laboratory project last June. The study is meant to give a look …
  
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• Georgia High Court: Negligent Kennel Owes Dog Owner for Death of Animal

  08-06-2016 07:48
  
  To its owner, a pet dog may be priceless – and even though Georgia’s highest court didn’t go quite that far Monday, it did say that under some circumstances, an owner whose pet is hurt or dies at the hands …
  
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• Vanderbilt adds transgender surgeries to student insurance - The Tennessean

  08-06-2016 05:55 via tennessean.com
  
  The Tennessean
  Vanderbilt adds transgender surgeries to student insurance
  The Tennessean
  The change was part of a routine annual review of the university's health care plan for students. Cynthia Cyrus, vice provost for learning and residential affairs at Vanderbilt, said the committee tasked with the review quickly recommended expanding ...and more »
  
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• Oklahoma regulator declares state's earthquake insurance market 'noncompetitive' - NewsOK.com

  08-06-2016 04:03 via newsok.com
  
  NewsOK.com
  Oklahoma regulator declares state's earthquake insurance market 'noncompetitive'
  NewsOK.com
  Chad Devereaux works at cleaning up the bricks that fell from three sides of his in-laws home in Sparks, Okla., Sunday, Nov. 6, 2011, after two earthquakes hit the area in less than 24 hours. (AP Photo/Sue Ogrocki). Oklahoma's chief insurance regulator ...
  Commissioner: Oklahoma earthquake insurance noncompetitiveWashington Times
  Insurance commissioner calls earthquake insurance noncompetitive
  
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• State self insurance plan draws concerns - WiscNews

  08-06-2016 03:41 via wiscnews.com
  
  Madison.com
  State self insurance plan draws concerns
  WiscNews
  MADISON (AP) — Wisconsin insurance industry leaders are worried a potential state move toward self-insurance is already on its way to being a done deal. At a Wisconsin Health News panel Tuesday, panelists and audience members critiqued the possible ...
  Self-insurance for state workers could save or cost money, authorities sayMadison.com
  Wieske appointed Wisconsin's deputy commissioner of insuranceMilwaukee Journal Sentinel
  
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• Authorities confident of increasing crop insurance cover - The Hindu

  08-06-2016 02:11 via thehindu.com
  Authorities confident of increasing crop insurance cover
  The Hindu
  The authorities concerned have notified 16 major crops cultivated in the district for crop insurance scheme and expect the number of farmers availing insurance cover against crop failure to rise significantly. The Pradhan Mantri Fasal Bima Yojana ...and more »
  
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• Greenpath Insurance in California Rebrands as Aspire

  08-06-2016 02:05
  
  Greenpath Insurance will now be known as Aspire General Insurance Co., the firm announced. The brand change is a reflection of Aspire’s new direction and leadership. The firm has undergone major changes over the last year, and the rebranding is one of …
  
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• Shrinking health insurance market could push up Minnesota premiums - Minneapolis Star Tribune

  08-06-2016 01:09 via startribune.com
  
  Shrinking health insurance market could push up Minnesota premiums
  Minneapolis Star Tribune
  Minnesota's market for individuals and families to buy private health insurance has fallen far short of enrollment projections, and actually got smaller between December and March. Both factors were highlighted by a report Tuesday from the trade group ...and more »
  
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• Consumer alert: Zika virus not covered by travel insurance - FOX31 Denver

  08-06-2016 01:06 via kdvr.com
  
  FOX31 Denver
  Consumer alert: Zika virus not covered by travel insurance
  FOX31 Denver
  CASTLE ROCK, Colo. -- When Autumn and Toby Titone found out they were expected their second child, after already booking a summer vacation to St. Maarten in the Caribbean, they assumed they would get reimbursed by their travel insurance. After all the ...and more »
  
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