Insurance news

• Two blasts rock Istanbul’s main airport, killing at least 41

  28-06-2016 23:38
  
  Two explosions rocked Istanbul’s Ataturk Airport late Tuesday, killing at least 41 people in an attack that a Turkish official blamed on three suicide bombers.
  
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• Two blasts rock Istanbul’s main airport, killing at least 28

  28-06-2016 23:38
  
  Two explosions rocked Istanbul’s Ataturk Airport late Tuesday, killing at least 28 people in an attack that a Turkish official blamed on three suicide bombers.
  
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• Fiery BNSF train collision leaves heap of crumpled freight cars

  28-06-2016 21:00
  
  Two BNSF Railway Co. freight trains collided in Texas, leaving at least one worker injured.
  
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• Ikea recalls 36 million dressers after 6 kids killed

  28-06-2016 20:38
  
  The recall covers six models of Malm chests or dressers manufactured from 2002 to 2016, as well as about 100 other families of chests or dressers.
  
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• As Flood Rages on in West Virginia, 2 Missing Campers Found Alive

  28-06-2016 18:58
  
  Two men who were presumed dead when a camper was swept away in rushing waters during the West Virginia floods have been found alive, officials said Monday as more heavy rain fell on already-soaked parts of the state. The discovery …
  
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• U.S. Supreme Court to Weigh Miami Predatory Lending Lawsuit

  28-06-2016 18:53
  
  The U.S. Supreme Court on Tuesday agreed to decide whether Miami can pursue lawsuits accusing major banks of predatory mortgage lending to black and Hispanic homebuyers resulting in loan defaults that drove down city tax revenues and property values. The …
  
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• 2 North Texas-Area Facilities Fined by Federal Safety Regulators

  28-06-2016 18:52
  
  Federal safety regulators have fined two different companies over safety violation in facilities located in North Texas. The federal Occupational Safety and Health Administration fined steel fabricator, K-T Galvanizing Company Inc., $53,200 for 13 serious violations found in its facility …
  
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• U.S. underestimates cost of fuel and CO2 goals, automakers say

  28-06-2016 18:45
  
  Regulators have underestimated the cost and difficulty of achieving their vehicle fuel-economy and greenhouse-gas targets for 2025, an automaker group said.
  
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• Ironshore’s Pembroke Agency Adds Cyber Coverage to Financial Institution Crime Policies

  28-06-2016 18:45
  
  Ironshore’s Pembroke Managing Agency Limited has updated its Financial Institutions Crime program to include cyber fraud and cyber extortion. Pembroke’s crime coverage for Financial Institutions indemnifies a company for direct financial loss resulting from internal and external fraud incidents. The …
  
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• Insurer for Nebraska Town Settles Claim Filed in Water Park Death

  28-06-2016 18:23
  
  Grand Island, Neb.’s insurance carrier has settled a claim against the city over the drowning of a 5-year-old girl at the city’s Island Oasis Water Park last summer. The claim for more than $1 million was filed in September by …
  
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• Missouri Governor Vetoes Bill Expanding Gun Rights

  28-06-2016 18:15
  
  Missouri Gov. Jay Nixon has vetoed a gun measure that would allow the concealed carry of firearms without a permit and expand residents’ rights to stand and fight against perceived threats — a move that could set up a battle …
  
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• What about my car? Details of the VW settlement for owners

  28-06-2016 18:10
  
  Car owners will be eligible for a payment ranging from $5,100 to approximately $10,000 per vehicle. The amount will be based on the age and mileage of the car.
  
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• RHSB Adds Galati as Assistant VP

  28-06-2016 17:52
  
  Nick Galati has joined Texas-based independent insurance broker, RHSB, as assistant vice president. He is a sales executive focusing on commercial property/casualty insurance products and services for middle-market companies. Galati comes to RHSB with more than six years’ experience in …
  
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• Texas Workers’ Comp Discount, Interest Rate Set for Q3

  28-06-2016 17:50
  
  The Texas Department of Insurance, Division of Workers’ Compensation has set the rate for any interest or discount provided for the third quarter of 2016 at 4.03 percent. This rate is computed by using the treasury constant maturity rate for …
  
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• Aetna’s Purchase of Humana OK’d by Illinois Insurance Regulator, with Condition

  28-06-2016 17:48
  
  The Illinois Department of Insurance has approved Aetna Inc.’s proposed $34 billion acquisition of Humana Inc. provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced …
  
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• Nevada Law Requires Nevada Motorists to Replace Plates Every 8 Years

  28-06-2016 17:28
  
  Nevada motorists will have to replace their vehicle license plates every eight years. A bill approved by last year’s Legislature to address law enforcement agencies’ complaints about many plates being unreadable will go into effect July 1. Department of Motor …
  
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• Colorado City Settles Discrimination Claim from Former Employee

  28-06-2016 17:21
  
  The city of Boulder, Colo. has agreed to pay $64,000 to settle a lawsuit filed by a former employee who says she was discriminated against after coming out as a lesbian. The Daily Camera reported that city officials on Friday said …
  
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• Volkswagen agrees to $15 billion emissions settlement

  28-06-2016 17:14
  
  VW has agreed to spend more than $15 billion to get hundreds of thousands of emissions-cheating diesel vehicles off U.S. roads and placate regulators.
  
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• U.S., China, EU Vow Crackdown on Unsafe Products Sold Online; Eye Hoverboard Standards

  28-06-2016 15:17
  
  U.S., European and Chinese regulators say they will jointly enforce product safety in online commerce, and an American official said they are making progress on crafting standards for hoverboards. The statement last week by American, European Union and Chinese officials …
  
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• AIG’s Inselberg Joins Starr Companies as Senior VP, Financial Lines

  28-06-2016 14:33
  
  Brian Inselberg has joined Starr Companies as senior vice president, Financial Lines. He will have overall responsibility for the growth and profitability of the portfolio as well as the leadership of the financial lines underwriting team. Inselberg joins Starr with …
  
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• Hospital stays top $1200 out-of-pocket even with insurance, U-M study finds - MLive.com

  28-06-2016 14:19 via mlive.com
  
  MLive.com
  Hospital stays top $1200 out-of-pocket even with insurance, U-M study finds
  MLive.com
  Out-of-pocket costs of hospital visit stays for common conditions have risen more than 37 percent just for straightforward hospital stays for common conditions. The statistics come from the first published analysis of actual out-of-pocket spending by ...
  Even With Insurance, A Hospital Stay Will Cost You $1000 or MoreNBCNews.com
  Even 'Good' Insurance Comes With Hidden Hospital BillsBismarck Tribune
  E
  
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• China’s Fosun to List U.S. Insurer Ironshore ‘As Soon as Possible’: Reuters

  28-06-2016 14:06
  
  Fosun Group, China’s biggest private conglomerate, will list U.S. property and casualty insurer Ironshore Inc “as soon as possible” this year, Guo Guangchang, the company’s billionaire co-founder and chairman told Reuters ahead of a Reuters Newsmaker event in Beijing on …
  
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• City wants to beef up insurance requirements for taxi cab operators - News Sentinel

  28-06-2016 13:56 via news-sentinel.com
  
  News Sentinel
  City wants to beef up insurance requirements for taxi cab operators
  News Sentinel
  Taxi cabs serving Fort Wayne International Airport and elsewhere could face tougher city regulations. (File photo by Kevin Leininger of The News-Sentinel) John Perlich. ••. Copyright 2014 The Associated Press. All rights reserved. This material may not ...and more »
  
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• 5 things never to do at a networking event

  28-06-2016 13:30
  
  Here are 5 surefire ways to alienate yourself at your next business networking event.
  
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• How carriers can retain and empower independent agents

  28-06-2016 13:15
  
  If carriers can help agents become the perfect balance between efficient communicators and trustworthy advisors, there will be considerable business gains.
  
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• Friends-based insurance - Financial Times

  28-06-2016 13:03 via ft.com
  Financial Times
  Friends-based insurance
  Financial Times
  A new insurance market entrant is promising to return up to 80 per cent of premiums to consumers if neither they nor their friends make a claim over a 12-month period. London-based So-Sure is focusing initially on mobile phones. “This is not ...
  
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• 7 ‘soft’ targets for summer thieves

  28-06-2016 13:00
  
  Burglars can get a lot from your home without ever going inside. Make sure your clients know what they can do to protect their property.
  
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• ACUITY Insurance - Fortune

  28-06-2016 12:32 via fortune.com
  
  Fortune
  ACUITY Insurance
  Fortune
  According to one baby boomer employee: “There are many unique and unusual attributes of this company. It is a rewarding company as well as a fun organization to work for. Coming to work is a pleasurable experience, unlike some other companies I have ...and more »
  
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• Stung by revelations of fraud, Zenefits crafts cloud app to track insurance licensing - GeekWire

  28-06-2016 12:02 via geekwire.com
  
  GeekWire
  Stung by revelations of fraud, Zenefits crafts cloud app to track insurance licensing
  GeekWire
  zenefits logo Attempting to recover from months of scandal over insurance agents' credentials, HR service Zenefits today announced a cloud-based application it said will ensure that only licensed agents can sell insurance. The $4.5-billion San ...and more »
  
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• This group pays the most for car insurance - CBS News

  28-06-2016 12:01 via cbsnews.com
  
  CBS News
  This group pays the most for car insurance
  CBS News
  Good drivers of "lower economic status" can pay nearly twice as much for auto insurance than higher-income drivers. That comes to about $600 to $900 more per year for the first group, according to a survey conducted by the Consumer Federation of ...
  If you're poor, you'll pay more for car insurance, study findsMinneapolis Star Tribune
  A Low Credit Score Could Drive Up your Auto Insurance CostsKOMO News
  Car insurance rates see increase
  
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• Brexit aftermath: 5 key areas financial advisors should watch

  28-06-2016 11:45
  
  Uncertainty about global markets and global economies triggered by the Brexit vote will continue for weeks, months, possibly for more than a year.
  
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• Narragansett Bay Insurance Names Hutchinson Assistant VP, Territory Manager - Insurance Journal

  28-06-2016 11:12 via insurancejournal.com
  
  Narragansett Bay Insurance Names Hutchinson Assistant VP, Territory Manager
  Insurance Journal
  Narragansett Bay Insurance Co. has named Peter Hutchinson an assistant vice president and Rhode Island and Massachusetts territory manager. Hutchinson will be responsible for partnerships with NBIC's agents and industry associations, profitable growth, ...
  
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• California's Bifurcated Regulatory View of Health Insurance Mergers - California Healthline

  28-06-2016 11:10 via californiahealthline.org
  
  California Healthline
  California's Bifurcated Regulatory View of Health Insurance Mergers
  California Healthline
  Two mega-mergers in the health insurance industry are sparking intense debate over cost and competition. California Insurance Commissioner Dave Jones has criticized both deals — Anthem-Cigna and Aetna-Humana — as being anti-competitive, and he ...
  Illinois insurance regulator approves Aetna/Humana mergerSt. Louis Business Journal
  Illinois insurance regulator approves
  
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• Insurance Wholesaler Socius Insurance Services, Inc. Announces New Litigation Cost Protection Program - PR Newswire (press release)

  28-06-2016 11:01 via prnewswire.com
  
  Insurance Wholesaler Socius Insurance Services, Inc. Announces New Litigation Cost Protection Program
  PR Newswire (press release)
  SAN FRANCISCO, June 28, 2016 /PRNewswire/ -- Socius Insurance Services, Inc., a management liability and property/casualty insurance wholesaler, in partnership with Level Insurance, introduced a new insurance program designed for plaintiff attorneys ...and more »
  
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• Narragansett Bay Insurance Names Hutchinson Assistant VP, Territory Manager

  28-06-2016 11:00
  
  Narragansett Bay Insurance Co. has named Peter Hutchinson an assistant vice president and Rhode Island and Massachusetts territory manager.  Hutchinson will be responsible for partnerships with NBIC’s agents and industry associations, profitable growth, and service delivery in Rhode Island and …
  
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• AIR Worldwide Introduces Earthquake Model for India

  28-06-2016 09:12
  
  Catastrophe risk modeler AIR Worldwide, a Verisk Analytics business, has released a new earthquake model for India that estimates losses to residential, commercial and small industrial buildings as well as automobiles. The model’s seismicity analysis covers areas with seismic activity …
  
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• S&P and Fitch Chop Britain’s ‘AAA’ Rating After Brexit Vote

  28-06-2016 08:21
  
  Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week’s vote to leave the European Union would hurt its economy. Standard & Poor’s stripped Britain of its …
  
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• QBE Weighs Brexit-Effect; Marsh Considers Some Brexit Scenarios

  28-06-2016 08:19
  
  QBE Insurance Group announced this week that it will be reviewing its UK-based operations in light of last week’s vote in the UK to leave the European Union. “The referendum outcome may require a revised approach in relation to approximately …
  
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• Britain’s Vote to Leave EU Hikes Concerns over UK Insurers’ Capital Strength

  28-06-2016 08:07
  
  Market falls triggered by Britain’s vote to leave the European Union will hit British insurers’ capital, raising concerns over their ability to pay dividends or hand cash back to investors. New European capital Solvency II rules introduced in January require …
  
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• Out-of-Pocket Hospital Costs Were Rising 6.5% a Year… Before Obamacare

  28-06-2016 08:00
  
  If you have private health insurance, the good news is you may be helping your employer keep its health care spending down. The bad news is it’s coming out of your pocket. The amount that people with private insurance still had …
  
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• New Hampshire Woman Withdraws Civil Suit Against Bill Cosby

  28-06-2016 08:00
  
  A 72-year-old New Hampshire woman who says Bill Cosby raped her in 1965 has withdrawn her civil defamation lawsuit against the comedian after a federal judge had allowed the case to move forward. Kristina Ruehli’s lawyer told The Associated Press …
  
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• Ivanka Trump Faces Shoe Design Infringement Claim by Italian Firm

  28-06-2016 08:00
  
  Ivanka Trump is being sued by an Italian shoe company that claims the fashion line carrying her name is selling a knockoff of one of its designs. The suit was filed by Aquazzura in federal court in New York against …
  
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• Insurance industry faces daunting list of challenges - Financial Times

  28-06-2016 07:01 via ft.com
  Financial Times
  Insurance industry faces daunting list of challenges
  Financial Times
  Last week's vote on the UK's membership of the EU sent insurance shares into a spin. Companies in continental Europe, the UK and Asia fell heavily as investors tried to digest the impact of the vote to leave. The prospect of Brexit gives the industry ...
  What stays – and what goes – in global insurance industry following BrexitInsurance Business Americaall 12 news articles »
  
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• Cost of car insurance to plunge with rise of driverless vehicles - Financial Times

  28-06-2016 07:01 via ft.com
  Financial Times
  Cost of car insurance to plunge with rise of driverless vehicles
  Financial Times
  “It was kind of a space age experience,” was how one early user of Google's new driverless cars described the encounter. It is easy to see why — the idea of a fleet of cars driving around with no need for any human control seems like science fiction.
  
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• Africa's insurance market a 'giant waking up' - Financial Times

  28-06-2016 07:01 via ft.com
  Financial Times
  Africa's insurance market a 'giant waking up'
  Financial Times
  When KPMG, the advisory company, held its inaugural East Africa Insurance Conference in February, organisers were surprised that more than 100 industry participants attended. James Norman, KPMG's regional insurance head, was equally enthused when ...
  
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• New Owner Anbang Insurance to Convert Most Waldorf Astoria Rooms into Condos

  28-06-2016 07:00
  
  New York’s landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. …
  
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• New FEMA flood maps could raise insurance rates - KOIN.com

  28-06-2016 06:47 via koin.com
  
  KOIN.com
  New FEMA flood maps could raise insurance rates
  KOIN.com
  GRESHAM, Ore. (KOIN) — FEMA is updating its Flood Insurance Rate Maps (FIRMs) for Multnomah County, which could result in higher insurance rates for residents. Multnomah County residents attend a FEMA open house Monday, June 27, 2016. (KOIN).
  
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• U.S. Whitewater Center in North Carolina Suspended After Amoeba Detected

  28-06-2016 06:19
  
  The U.S. National Whitewater Center in Charlotte, N.C., announced Friday that it has temporarily suspended its operations after water samples turned up the amoeba believed to have caused the death of an Ohio teenager. A statement released by the center …
  
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• Activities at U.S. Whitewater Center in North Carolina Suspended After Amoeba Detected

  28-06-2016 06:19
  
  The U.S. National Whitewater Center in Charlotte, N.C., announced Friday that it has temporarily suspended its operations after water samples turned up the amoeba believed to have caused the death of an Ohio teenager. A statement released by the center …
  
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• 5 Drug Wholesalers to Settle West Virginia Pill Shipment Lawsuit for $4.2M

  28-06-2016 06:09
  
  Five drug wholesalers have agreed to a $4.2 million settlement in a lawsuit alleging that they shipped an excessive number of prescription opioids to West Virginia, the attorney general said June 23. According to a news release, the settlement involves …
  
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