Insurance news

• Colorado car insurance jumps 15% on average - 9NEWS.com

  21-06-2016 22:49 via 9news.com
  
  9NEWS.com
  Colorado car insurance jumps 15% on average
  9NEWS.com
  Insurers are charging between 5 percent and 10 percent more on average for car insurance. (Photo: KUSA). CONNECT TWEET LINKEDIN GOOGLE+ PINTEREST. DENVER - If the increase in your car insurance rate shocked you, you're not alone. "I would ...
  
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• Health systems with insurance operations stumble in 2015 - ModernHealthcare.com

  21-06-2016 22:26 via modernhealthcare.com
  
  Health systems with insurance operations stumble in 2015
  ModernHealthcare.com
  Not-for-profit integrated health systems—or those that combine hospitals, doctors and health insurance operations—continued to churn out surpluses in 2015, but the margins were a lot tighter than the year before, according to new bondholder filings ...
  
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• Feds target young adults for health insurance coverage outreach - USA TODAY

  21-06-2016 21:08 via usatoday.com
  
  USA TODAY
  Feds target young adults for health insurance coverage outreach
  USA TODAY
  Federal health officials said Tuesday that they plan to step up their efforts to get uninsured young adults to sign up for health coverage on the Affordable Care Act exchanges, which many avoid doing due to cost and because they think they don't need ...
  Feds to pitch insurance coverage to reluctant young adultsMinneapolis Star Tribune
  Fed Outreach Will Target Young People Without Health InsuranceBloomberg
  
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• How (and Why) to Buy Travel Insurance - New York Times

  21-06-2016 20:52 via nytimes.com
  New York Times
  How (and Why) to Buy Travel Insurance
  New York Times
  Scuba diving in clear blue water of Richelieu Rock in the Surin Islands, within Mu Ko Similan National Marine Park, Thailand. Credit Caine Delacy for The New York Times. Picking the best travel insurance to buy for your coming vacation can be a ...
  
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• Insurers paying more for fewer lightning strikes, report says

  21-06-2016 20:30
  
  Insurers paid $790 million to nearly 100,000 policyholders in 2015, according to the Insurance Information Institute.
  
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• Axa targets $2.4 billion cost cuts by 2020, weighs acquisitions

  21-06-2016 19:06
  
  Growing earnings is increasingly difficult for big insurers like Axa as competition for premiums intensifies and quantitative easing limits returns from investments such as bonds.
  
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• Older drivers seek high-tech safety features in greater numbers

  21-06-2016 18:50
  
  High-tech safety features have jumped to a high priority for older U.S. car-shoppers, who want to keep their freedom of mobility.
  
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• Zielke Named Senior VP, General Counsel at Michigan’s AF Group

  21-06-2016 18:30
  
  Lansing, Mich.-based insurance holding company, AF Group, has appointed Kevin Zielke as senior vice president and general counsel. Prior to joining AF Group, Zielke was a member of the litigation department in the Detroit office of Dykema Gossett. Founded in 1912, AF Group is …
  
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• IMS/London American Adds Davis as Underwriter in San Antonio

  21-06-2016 18:27
  
  Houston-based managing general agent (MGA), IMS/London American, has hired Faith Davis as a commercial underwriter in its San Antonio office. Davis has more than 25 years of experience in the insurance marketplace. Most recently she was the commercial underwriting manager …
  
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• Update: 1Dead, 3 Hurt in North Dakota Oil Rig Blast

  21-06-2016 18:12
  
  One worker was killed and two others were seriously injured in an explosion and fire at an oil well in western North Dakota, authorities said. The McKenzie County Sheriff’s Department said 52-year-old Johnny Stassinos of Rock Springs, Wyoming, died Saturday …
  
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• Gas Leak Causes Oil Rig Blast in North Dakota, 4 Hurt

  21-06-2016 18:12
  
  Authorities say four people were injured in an oil rig explosion in western North Dakota. State environmental scientist Bill Suess (sees) says it happened Saturday morning near Watford City at a well site operated by XTO Energy Inc. Suess says …
  
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• More State Flood Protection Money Sought for Minot, N.D., Region

  21-06-2016 18:10
  
  Minot, N.D.-area officials will ask the state for another $119 million in the next two-year budget period for work on a flood protection project. Officials say completing the first four phases of the project will protect 60 percent of the …
  
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• Austin City Council Member Sues Over Ride-Hailing Fingerprint Rule

  21-06-2016 18:07
  
  An Austin City Council member who is a supporter of ride-hailing companies Uber and Lyft has filed a lawsuit to overturn a requirement for their drivers to undergo fingerprint criminal background checks left standing in a May municipal vote. Donald …
  
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• General Star Adds Artisan Contractor Coverage in Select States

  21-06-2016 18:06
  
  General Star Management Company has added artisan contractor coverage to its delegated authority product offerings. Consisting of 25 artisan contracting classes, the new coverage will be available in Maine, Massachusetts, New Hampshire, New Jersey, Oklahoma and Vermont. This primary CGL …
  
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• Aetna-Humana Deal Approved in California, with Conditions

  21-06-2016 18:05
  
  The California Department of Managed Health Care approved Aetna Inc.’s acquisition of Humana Inc. with conditions including the insurer’s commitment to keeping premium increases at a minimum in the small group HMO business and to making about $50 million in …
  
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• Applied Underwriters’ Workers’ Comp Business Faulted by California Regulator

  21-06-2016 18:02
  
  California’s insurance commissioner said a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers’ compensation costs. Commissioner Dave Jones faulted Berkshire’s Applied Underwriters Inc. and California Insurance Co. units over the sale …
  
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• Applied Underwriters Faulted by California Regulator

  21-06-2016 18:02
  
  California’s insurance commissioner said a Berkshire Hathaway Inc. insurance business evaded a state law designed to protect small businesses from unexpected workers’ compensation costs. Commissioner Dave Jones faulted Berkshire’s Applied Underwriters Inc. and California Insurance Co. units over the sale …
  
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• More drones-for-hire coming to U.S. skies under landmark rules

  21-06-2016 17:24
  
  The Obama administration is opening U.S. skies to more commercial drones with long-awaited regulations that the government hopes will spawn new industries.
  
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• QBE North America Names Nationwide’s Bleich as VP for Agriculture Underwriting

  21-06-2016 17:23
  
  QBE North America said that Nathan Bleich has joined the organization as vice president, Commercial Agriculture underwriting. Bleich joins QBE from Nationwide where he spent the past 12 years working in the agribusiness division, most recently as agribusiness underwriting director  …
  
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• Boston Municipal Fund Files Bondholder Class Action Against VW for Diesel Scandal

  21-06-2016 16:40
  
  Boston Retirement System, the public pension fund for Boston municipal employees, filed the first bondholders proposed class action against Volkswagen AG related to the company’s diesel emissions scandal, law firm Labaton Sucharow LLP said. The lawsuit, which also names as …
  
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• Why Customer Satisfaction Is Falling for Large Auto Insurers, Rising for Small: J.D. Power

  21-06-2016 16:25
  
  After climbing in each of the past two years, customer satisfaction is falling among the nation’s largest auto insurers, while satisfaction is actually up a tad for small insurers. This rising dissatisfaction with large carriers is in turn driving overall …
  
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• Vermont Family Sues Exterminator for Allegedly Using Banned Pesticide

  21-06-2016 15:59
  
  A Vermont family who said their home was made unlivable by an exterminator who used a banned pesticide has filed a civil suit against a New York pest control business. The Rutland Herald reports that Neil and Patricia Whitney filed …
  
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• Unsteady market for earthquake cover puts half-million Missourians at risk

  21-06-2016 15:15
  
  Property owners in Missouri face a shrinking earthquake insurance market, increasing their risk.
  
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• Google, Facebook, Twitter Sued by Father of Victim of Paris Terrorist Attack

  21-06-2016 15:06
  
  The father of a young woman killed in the Paris massacre last November is suing Google, Facebook and Twitter, claiming that the companies provided “material support” to extremists in violation of the law. Reynaldo Gonzalez, whose daughter Nohemi was among …
  
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• AXA Awaits Result of Brexit Vote Before Building London’s Tallest Tower

  21-06-2016 14:47
  
  AXA SA’s real estate unit is awaiting the outcome of the Brexit referendum before deciding whether to proceed with a plan to build the tallest tower approved in the City of London. “We have not launched the project because we …
  
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• Supreme Court Muddies Healthcare Liability Waters

  21-06-2016 14:28
  
  The Supreme Court is supposed to take appellate cases to make the law clearer. Last week’s opinion on healthcare fraud had the opposite effect. Instead of spelling out exactly when a misrepresentation in healthcare billing counts as a legal violation, …
  
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• Supreme Court Has Made Healthcare Liability Murkier

  21-06-2016 14:28
  
  The Supreme Court is supposed to take appellate cases to make the law clearer. Last week’s opinion on healthcare fraud had the opposite effect. Instead of spelling out exactly when a misrepresentation in healthcare billing counts as a legal violation, …
  
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• Gunmakers Say Federal Law Shields Them from Sandy Hook Negligence Claims

  21-06-2016 14:07
  
  A 2005 federal law was designed specifically to prevent gunmakers from being sued for mass killings like the one at Sandy Hook Elementary School, lawyers for the maker of the AR-15 assault weapon used in the attack told a Connecticut …
  
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• Gunmakers Say Federal Law Sheilds Them from Sandy Hook Negligence Claims

  21-06-2016 14:07
  
  A 2005 federal law was designed specifically to prevent gunmakers from being sued for mass killings like the one at Sandy Hook Elementary School, lawyers for the maker of the AR-15 assault weapon used in the attack told a Connecticut …
  
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• Driverless cars: What are the insurance implications?

  21-06-2016 14:00
  
  Until autonomous vehicles become more intelligent and safe, major market changes will occur in phases while insurance companies develop more informed risk models
  
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• Don’t Expect Surge of Private Flood Insurance Products: S&P

  21-06-2016 12:50
  
  Opening U.S. flood insurance to private insurers won’t lead to a surge of new market entrants, Standard & Poor’s asserts in a new report. Even if Congress passes legislation to make the change as it is widely expected to do, …
  
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• Environmentalists Warn of Spill Risk from Increasing Oil Shipments on Hudson River

  21-06-2016 12:47
  
  The Hudson River may still become a major corridor for the shipment of thick, tar sands oil from Canada despite moves last year by New York officials that many thought stopped those efforts. At issue is a key air permit …
  
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• 6 ways to get prospects and referrals to stop ignoring you

  21-06-2016 12:30
  
  Are your prospects and referrals ignoring you? Give them a reason to respond using these six methods.
  
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• Aon Benfield Names Foord-Kelcey as Co-Head of Cyber Practice Group

  21-06-2016 12:23
  
  Aon plc has appointed Luke Foord-Kelcey to co-head Aon Benfield’s Global Cyber Practice Group, reinforcing the firm’s commitment to cyber risk management and transfer. Based in London, Foord-Kelcey will be responsible for spearheading cyber – an emerging line of business …
  
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• From zombies to bridezillas, 'special' insurance coverage opportunities abound

  21-06-2016 12:00
  
  Obstacle-course races, zombie runs and weddings can generate some not-so-fun losses. Helping special events organizers manage risk can make an agent a winner in this competitive insurance market.
  
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• ‘Brexit’ Would Damage UK’s Leadership Position in Insurance: Aon

  21-06-2016 12:00
  
  Aon Plc Chief Executive Officer Greg Case, who moved the insurance broker to London from Chicago four years ago, said the U.K.’s centuries-long leadership in the industry would be damaged if voters choose to leave the European Union. “The U.K. …
  
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• AXA Plans $2.4B in Cost Cuts by 2020; Acquisitions Eyed for Growth

  21-06-2016 11:27
  
  AXA SA, France’s largest insurer, plans to increase profitability through 2020 by seeking 2.1 billion euros ($2.4 billion) of cost cuts and growing digital investments to tap rising demand for policies protecting savings and health. The firm may also seek …
  
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• Specialist Lloyd’s Insurer Neon Opens Bermuda Office with Fisher as CEO

  21-06-2016 10:43
  
  The specialist Lloyd’s insurer Neon, formerly known as Marketform, announced it has opened an office in Bermuda as it grows its international footprint with greater access to both the Bermudian and U.S. markets. Located at 29 Victoria Street, Hamilton, the …
  
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• BHSI Enters A&H Market in Asia, Brain Named to Lead A&H in Region

  21-06-2016 10:14
  
  Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it is entering the accident & health (A&H) market in Asia, and appointed Phillip Brain as head of A&H in the region. Brain comes to BHSI with nearly two decades of industry experience. …
  
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• Tennessee-Based Brentwood Services Administrators Promotes Knick

  21-06-2016 07:30
  
  Brentwood Services Administrators Inc. (BSA), headquartered in Brentwood, Tenn., has promoted Daniel Knick to the position of senior claim representative in its Occupational Injury Unit. Knick’s new responsibilities include increased oversight of reviewing, processing and handling occupational accident claims, and …
  
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• Risk Strategies Acquires Dallas-Based McLaughlin Brunson Agency

  21-06-2016 07:17
  
  National insurance brokerage and risk management firm, Risk Strategies Company, has acquired Dallas-based McLaughlin Brunson Insurance Agency. McLaughlin Brunson provides insurance products and services to architects, engineers and certified professional accountants in Texas and Oklahoma. The firm will be known …
  
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• North Carolina Man Sentenced to Prison for Staging, Filming Accidents

  21-06-2016 07:13
  
  A North Carolina man will spend at least a year in prison after prosecutors said he intentionally caused 12 wrecks, filming many of them on a dashboard camera and uploading the footage to the internet. District Attorney Todd Williams said …
  
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• Tennessee Updates Captive Law, Sets Sights on Being ‘Captive Leader’

  21-06-2016 06:26
  
  Tennessee has stepped up its efforts to establish the state as a captive insurance industry leader with enhancements to the state’s captive insurance laws just passed by the Tennessee Legislature. The changes to the 2011 captive law were signed into …
  
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• Missouri-Based Agency, Bull Insurance, Promotes Ayres

  21-06-2016 03:11
  
  Bull Insurance Agency, based in Lamar, Mo., has promoted Liane Ayres to customer service producer (CSP). Ayres, who recently earned her property/casualty insurance license, was previously a customer service representative (CSR) at the company. Bull Insurance Agency is a full-service …
  
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• USI Appoints Escobedo Senior Sales Executive in Salt Lake City

  21-06-2016 03:07
  
  USI Insurance Services (USI) named Mark Escobedo as senior sales executive in its Salt Lake City office. In this role, Escobedo is responsible for managing the costs and coverages of property/casualty portfolios for a wide range of Utah companies. He …
  
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• PEMCO Poll: Nearly Half of Northwest Drivers Use Phones Behind the Wheel

  21-06-2016 03:06
  
  Seattle-based PEMCO Insurance announced that nearly half of Northwest drivers admit they illegally use their phones while driving – and a majority do it because they don’t think it’s “too dangerous.” That’s according to a poll the insurer commissioned in late …
  
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