Insurance news

• Low-income drivers pay more for insurance - San Antonio Express-News (subscription)

  08-07-2016 23:54 via expressnews.com
  
  Low-income drivers pay more for insurance
  San Antonio Express-News (subscription)
  Some drivers know that many auto insurers use nondriving factors to determine liability insurance premiums. Others assume only information on their traffic tickets and accidents are used. Some drivers know to shop around to get the best deal on ...
  
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• Some may see big increase in Obamacare insurance costs, but tax credit will offset price jump for most - The Missoulian

  08-07-2016 22:58 via missoulian.com
  The Missoulian
  Some may see big increase in Obamacare insurance costs, but tax credit will offset price jump for most
  The Missoulian
  HELENA — About 35,000 Montanans could see huge increases — some up to 60 percent or more — in what they pay for health insurance purchased on the federal marketplace. On Friday, the Commissioner of Securities and Insurance released the ...
  Montana Insurance Commissioner 'Shocked' by Blue Cross Blue Shield Rate RequestNewstalkkgvoall 7 news a
  
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• Coastal Insurer UPC’s First Catastrophe Bond Provides It with $100M Cover

  08-07-2016 21:11
  
  Swiss Re Capital Markets said it has structured and placed $100 million of insurance-linked securities (ILS) that cover named storms and earthquakes affecting certain coastal states of the U.S. The bonds have been issued by Laetere Re Ltd. on behalf …
  
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• Will States Kill The Big Insurance Mergers? - Huffington Post

  08-07-2016 20:57 via huffingtonpost.com
  
  Huffington Post
  Will States Kill The Big Insurance Mergers?
  Huffington Post
  Federal regulators are being watched closely as they decide how to respond to two big health insurance deals currently on the table in the United States. The Department of Justice and the Federal Trade Commission are reviewing both Aetna's $37 billion ...and more »
  
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• Insurance-linked securities issued to cover hurricane risks - Business Insurance

  08-07-2016 20:40 via businessinsurance.com
  Insurance-linked securities issued to cover hurricane risks
  Business Insurance
  Swiss Re Capital Markets Corp. said it has structured and placed the issuance of $100 million of insurance-linked securities by Laetere Re Ltd. on behalf of St. Petersburg, Florida-based United Property & Casualty Insurance Co. and its Family Security ...and more »
  
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• Allstate CEO seeks dealmaker to oversee $79 billion portfolio

  08-07-2016 19:30
  
  Allstate is looking for a new chief investment officer to manage the insurer's credit-focused $79 billion portfolio.
  
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• Do You Need Credit Card Travel Insurance? - CT Post

  08-07-2016 19:20 via ctpost.com
  
  Do You Need Credit Card Travel Insurance?
  CT Post
  Consumers using their credit card abroad and who then have some kind of financial problem may get help through their card's travel insurance. While not all credit card companies provide this type of insurance to their consumers, many do. Those who need ...and more »
  
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• 18 Million People Could Lose Health Insurance Under President Trump - Huffington Post

  08-07-2016 19:20 via huffingtonpost.com
  
  Huffington Post
  18 Million People Could Lose Health Insurance Under President Trump
  Huffington Post
  Donald Trump's approach to health care could cause the number of uninsured Americans to skyrocket, yet another group of experts predicts. This time around, the warning comes from researchers with a relatively conservative outlook ― in other words, ...and more »
  
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• Make that Fitbit a lie detector

  08-07-2016 19:00
  
  Today's self-tracking devices, such as Fitbits, provide access to critical data when investigating a claim.
  
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• DuPont Ordered to Pay $5.1M in Suit over Teflon-Related Chemical

  08-07-2016 18:47
  
  A U.S. jury has ordered DuPont to pay $5.1 million to a man who said he developed testicular cancer from exposure to a toxic chemical used to make Teflon at one of its plants, according to a DuPont spokesman. It …
  
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• Infinity Insurance Review 2016 - NerdWallet (blog)

  08-07-2016 18:46 via nerdwallet.com
  
  CBS Local
  Infinity Insurance Review 2016
  NerdWallet (blog)
  Infinity Insurance is best known for covering high-risk drivers whose poor records leave them unable to get an auto insurance policy anywhere else. Infinity also offers insurance for motorcycles, all-terrain vehicles, recreational vehicles, boats and ...
  Insurance Basics: Policies You Probably Don't NeedCBS Localall 4 news articles »
  
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• Aon Offers Cover for Ontario Uber Drivers, Using Online Quoting Tool

  08-07-2016 18:32
  
  Aon Risk Solutions, the global risk management business of Aon plc, announced it is now offering personal ride-sharing insurance policies designed specifically for Ontario Uber drivers. As Uber’s insurance broker, Aon said it “has developed a comprehensive understanding of the …
  
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• Severe Flooding Leads to State of Emergency in Tennessee

  08-07-2016 18:31
  
  Officials have declared a state of emergency in Tennessee after heavy rains caused flooding in several areas overnight and more rain is forecast. Tennessee Emergency Management Agency spokesman Dean Flener said on Thursday that crews were performing swift-water rescues in …
  
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• In Move to Block Campus Carry Law, University of Texas Profs Sue

  08-07-2016 18:25
  
  Three University of Texas professors have filed suit in federal court, seeking to block the state’s “campus carry” law before it takes effect next month. The July 6 court filing came from sociology professor Jennifer Lynn Glass, and English professors …
  
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• Illinois Stepping in to Help Struggling Insurance Co-Op - Insurance Journal

  08-07-2016 18:06 via insurancejournal.com
  
  Illinois Stepping in to Help Struggling Insurance Co-Op
  Insurance Journal
  The state of Illinois has tried an unusual maneuver to save a health insurer with 49,000 Illinois policyholders from possible financial failure by blocking it from paying a $31.8 million bill to the federal government. Illinois Department of Insurance ...
  
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• People on the move in the P&C insurance industry: July 8, 2016

  08-07-2016 18:00
  
  News from Assurance, Allianz, CFC and more.
  
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• Illinois Stepping in to Help Struggling Insurance Co-Op

  08-07-2016 17:55
  
  The state of Illinois has tried an unusual maneuver to save a health insurer with 49,000 Illinois policyholders from possible financial failure by blocking it from paying a $31.8 million bill to the federal government. Illinois Department of Insurance Acting …
  
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• MEMIC Names Yao as Chief information Officer

  08-07-2016 17:33
  
  Workers’ compensation specialist The MEMIC Group has appointed John R. Yao as senior vice president and chief information officer to oversee the company’s information systems and technology. Yao has 35 years of information technology experience in the healthcare and insurance …
  
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• Minor Quake Shakes Remote California Farm Country

  08-07-2016 17:18
  
  A minor earthquake has shaken farmland in California’s Imperial County south of the Salton Sea. The U.S. Geological Survey says the 5:55 a.m. Thursday quake had a preliminary magnitude of 3.7 and was centered four miles south of the city …
  
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• Washington Transit Operator Settles with Cyclist for $2.75M

  08-07-2016 17:14
  
  Kitsap Transit has settled a lawsuit with a Washington woman who was hit by a bus while riding her bicycle near Poulsbo. The Kitsap Sun reported the Washington State Transit Insurance Pool, of which Kitsap Transit is a member, settled …
  
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• California Workers’ Comp is Biased Against Women, Suit States

  08-07-2016 17:11
  
  California’s workers’ compensation system discriminates against women by judging benefits on the basis of stereotypes and ignoring harm done to women – such as refusing permanent benefits when a woman loses a breast to cancer, according to a lawsuit filed …
  
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• Workers’ comp market shows profit for 2015, but will it last?

  08-07-2016 17:00
  
  Fitch Ratings report sheds light on underwriting performance for this long-troubled line.
  
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• California Insurers Group Hopes Governor Signs Airbnb Bill

  08-07-2016 16:53
  
  Another bill dealing with the sharing economy is headed to the California governor’s desk. A bill to ensure homeowners and renters offering rooms for rent on hosting platforms like Airbnb and Home Away understand what insurance coverage they have recently …
  
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• Typhoon Nepartak Lashes Taiwan, to Weaken Before Hitting China

  08-07-2016 16:52
  
  Super typhoon Nepartak hit Taiwan on Friday, driving thousands of people from their homes, disrupting power supply and forcing the cancellation of more than 600 flights, emergency authorities said. Television showed images of tipped-over motorcycles and large signboards being ripped from buildings …
  
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• Confusion over cyber insurance leads to coverage gaps - CIO

  08-07-2016 16:19 via cio.com
  
  CIO
  Confusion over cyber insurance leads to coverage gaps
  CIO
  Cyber insurance may be a booming business thanks to the high-profile breaches, but the market for such policies is a complicated, say experts from SANS Institute, Advisen and PivotPoint. Email a friend. To. Use commas to separate multiple email ...
  
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• Insurance Department Will Help Find Delawareans' Missing Life Insurance Policies - CBS Local

  08-07-2016 16:12 via philadelphia.cbslocal.com
  
  CBS Local
  Insurance Department Will Help Find Delawareans' Missing Life Insurance Policies
  CBS Local
  PHILADELPHIA (CBS) — The Delaware Department of Insurance has set up a new service to help locate missing life insurance policies. The Department will provide Delaware residents and their families with a free search service that can help locate ...
  Delaware Insurance Department Will Work To Locate Missing PoliciesInsurance News Net
  State sets up search tool for lost insurance policiesDelaw
  
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• Life insurance Insurtech Innovation: Not An Oxymoron - Huffington Post

  08-07-2016 16:10 via huffingtonpost.com
  
  Huffington Post
  Life insurance Insurtech Innovation: Not An Oxymoron
  Huffington Post
  While most insurance technology startup activity in the US is concentrated in health and auto, there are signs of life (pun intended) in the life insurance sector. Given the business model challenges reported in Eight Startups Aiming to Revive Life ...
  
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• Massachusetts drivers seeing higher car insurance rates - WCVB Boston

  08-07-2016 16:02 via wcvb.com
  
  WCVB Boston
  Massachusetts drivers seeing higher car insurance rates
  WCVB Boston
  BOSTON —More than a million Massachusetts drivers will see their auto insurance bills increase by as much as 9 percent this year. Insurance companies and industry officials tell The Boston Globe that cheaper gas and an improving economy, which has put ...
  Why car insurance rates are spiking in MassachusettsBoston.com
  Auto insurance rates on the risewwlp.comall 4 news articles »
  
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• As cyber threats mount, will regulators force banks to require safeguards?

  08-07-2016 15:50
  
  The Fed is said to be planning new regulations to require banks to adopt better safeguards to shield themselves and customers from cyber attacks.
  
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• Pot Legalization Question Cleared for Massachusetts Ballot in November

  08-07-2016 15:15
  
  Massachusetts’ highest court has cleared the way for a question that calls for legalizing recreational marijuana in Massachusetts to appear on the November ballot. The Supreme Judicial Court in Wednesday’s ruling rejected an attempt to block the question, but did …
  
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• New Jersey Judge Orders Safety Plan for Rail Cars with Propane

  08-07-2016 15:11
  
  A state judge has ordered a railroad company to implement new safety rules for rail cars filled with butane and propane stored on Morris County-owned tracks. A Superior Court judge’s rule included ordering the Morristown & Erie Railway to work …
  
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• P/C Insurance Results for Q1 Hurt by High Catastrophe Losses, Low Investment Income

  08-07-2016 15:00
  
  Driven by the highest level of first-quarter catastrophe losses since 2011, the underwriting results of the U.S. property/casualty (P/C) industry in the first quarter of 2016 deteriorated from the prior year. The industry posted an underwriting gain of $2.1 billion …
  
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• Hulk Hogan Moves to Take Down Gawker’s Liability Shield in Bankruptcy

  08-07-2016 14:46
  
  Hulk Hogan, stymied by the bankruptcy filing of Gawker Media in the midst of a legal battle over a sex tape, is fighting back using the tools of Chapter 11 law. Hogan, unable to collect a $140 million jury verdict …
  
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• Marijuana Ties May Signal ‘Risky Lifestyle’ to Insurers

  08-07-2016 14:24
  
  A few weeks ago, Derek Peterson got a letter from Mutual of Omaha, turning him down for life insurance. “Our decision was based on,” the letter said, then trailed off (Monty Python-style) and picked up in all caps: WE HAVE …
  
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• Alpha Natural Resources Reaches Deal with U.S. to Exit Bankruptcy, Clean-Up Mines

  08-07-2016 14:11
  
  The U.S. government agreed to a mine clean-up deal that allows coal producer Alpha Natural Resources to exit bankruptcy, despite concerns that Alpha will be unable to fund $400 million in commitments, a government lawyer told a court on Thursday. …
  
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• Driving without insurance? Here's what you are risking - Petoskey News-Review

  08-07-2016 14:08 via petoskeynews.com
  
  Petoskey News-Review
  Driving without insurance? Here's what you are risking
  Petoskey News-Review
  Owning a motor vehicle comes with many financial responsibilities: loan payments, maintenance, fuel, registration and everybody's favorite — insurance. It's understandable that people especially don't like to pay for something you hope you never have ...
  
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• Don't make these 8 mistakes when selling P&C insurance

  08-07-2016 14:00
  
  As a sales manager, if you ignore the “Don'ts,” you are ensuring that they will be repeated again and again.
  
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• Global insurance industry: Steady growth, but mixed outlook - PropertyCasualty360

  08-07-2016 13:04 via propertycasualty360.com
  
  PropertyCasualty360
  Global insurance industry: Steady growth, but mixed outlook
  PropertyCasualty360
  Swiss Re's new report provides an analysis of the global insurance industry in 2015 with predictions for 2016 and beyond. (Photo: iStock). Although the insurance industry saw another year of moderate global economic growth in 2015, real global direct ...and more »
  
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• Global insurance industry: Steady growth, but mixed outlook

  08-07-2016 13:00
  
  A new report from Swiss Re finds moderate growth in premiums written.
  
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• Justice Department Has ‘Significant Concerns’ with Aetna-Humana Marriage

  08-07-2016 12:55
  
  The U.S. Department of Justice has significant concerns about Aetna Inc’s proposed acquisition of health insurer Humana Inc., a source familiar with the situation said on Thursday, sending shares of Humana down as much as 11 percent. Aetna’s purchase of …
  
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• Reports of Fires, Explosions Lead to Huge Hoverboard Recall

  08-07-2016 12:48
  
  More than 500,000 hoverboards are being recalled after dozens of reports of fires and spewing smoke. There have been 99 reports to the Consumer Product Safety Commission of battery packs that have overheated, exploded or caught fire, the U.S. regulator …
  
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• Maryland High Court Finds Liability for Adults Hosting Underage Drinking Parties

  08-07-2016 12:39
  
  Adults who host underage drinking parties can be held civilly liable for injuries caused by a drunken guest, Maryland’s highest court ruled unanimously this week in what one lawyer calls a landmark decision. The Court of Appeals ruled in two …
  
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• San Francisco insurance startup Embroker to open Chicago office, hire 10 - Chicago Tribune

  08-07-2016 12:30 via chicagotribune.com
  
  Chicago Tribune
  San Francisco insurance startup Embroker to open Chicago office, hire 10
  Chicago Tribune
  Embroker, a startup that developed a digital brokerage platform for business insurance, is opening an office in Chicago that will rival the size of its home base in San Francisco. The young company, founded last year, only has about 15 employees at its ...
  Technology-Based Insurance Provider, Embroker, Opens Chicago OfficeInsurance Journal
  Digital broker startup expandsBusiness Insuranceall
  
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• Global Flood Events Rack Up $5B in Economic Costs in June: Aon Report

  08-07-2016 11:43
  
  Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Seasonal “Mei-Yu” …
  
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• Cooper Gay Appoints Angelini-Hurll as CEO of Reinsurance Division

  08-07-2016 11:14
  
  Cooper Gay* the London-based reinsurance, wholesale and specialty broker, announced the appointment of Kieran Angelini-Hurll as CEO of its reinsurance division. He takes up his new role on Sept. 1 and will report to Steve Hearn, group CEO. Angelini-Hurll brings …
  
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• Post-Brexit-Vote Property Panic Could Hit Bank, Insurer Investments

  08-07-2016 10:59
  
  The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. UK banks and building societies had around …
  
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• Marsh Taps Cooke (Former NAPSLO President) as Vice Chair of Global Placement

  08-07-2016 09:53
  
  Marsh has appointed Jeremy Cooke as vice chairman of Global Placement, effective immediately. Based in London, Cooke will report to Dean Klisura, global head of Industry Specialties and Placement. In his new role, Cooke will focus on critical growth areas …
  
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• Marsh Taps Cooke as Vice Chairman of Global Placement

  08-07-2016 09:53
  
  Marsh has appointed Jeremy Cooke as vice chairman of Global Placement, effective immediately. Based in London, Cooke will report to Dean Klisura, global head of Industry Specialties and Placement. In his new role, Cooke will focus on critical growth areas …
  
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• Alberta Wildfires to Cost Insurers About $2.8B, in Canada’s Costliest Disaster

  08-07-2016 09:36
  
  The wildfires that tore across the oil-producing region of Canada this year will cost insurers about C$3.58 billion ($2.8 billion) in claims, the most costly insured natural disaster in the country’s history, an industry group said. The fires led to …
  
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• Kelso to Retire from Ohio Insurance Institute, Fadel Named President

  08-07-2016 07:26
  
  Ohio Insurance Institute President Dan Kelso is retiring and senior staffer Dean Fadel has been named the OII’s new president, the organization announced. The leadership transition will occur over the next several weeks. Fadel, formerly vice president of Government Relations, …
  
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