Insurance news

• East Aurora school board president says insurance changes will help teacher hiring - Chicago Tribune

  27-07-2016 23:51 via chicagotribune.com
  
  East Aurora school board president says insurance changes will help teacher hiring
  Chicago Tribune
  East Aurora School District 131 will change its insurance coverage for teachers who leave the end of the school year, a move school board President Annette Johnson said could help the district's hiring. Under a new resolution approved by the school ...and more »
  
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• State recovers $3.5 million in insurance fraud case - MyCentralJersey.com

  27-07-2016 22:42 via mycentraljersey.com
  
  MyCentralJersey.com
  State recovers $3.5 million in insurance fraud case
  MyCentralJersey.com
  Suit was filed against Gregorio Lajara of Perth Amboy and others, health care practitioners and facilities. Individuals allegedly were involved in scheme to defraud Allstate and other insurance companies. Allstate New Jersey Insurance Company and its ...
  
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• Barnes & Thornburg Adds 2 Insurance Recovery Attorneys in California

  27-07-2016 22:39
  
  Barnes & Thornburg LLP has added David Wood and Joshua Rosenberg to the firm’s litigation department and insurance recovery and counseling practice group. The firm also added John Corbett, of counsel, in Dallas, Texas. The trio arrives from Anderson Kill’s Ventura, …
  
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• LP Insurance Services in Nevada Brings on Cleghorn

  27-07-2016 22:22
  
  Reno, Nev.-based LP Insurance Services Inc. has named Adam Cleghorn to its Northern Nevada team. Cleghorn previously worked for Basalite Concrete Products in Sparks. He has been in the risk management industry for more than 15 years. LP Insurance Services …
  
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• CareFirst ups insurance rate increase request for 2017 - Baltimore Business Journal

  27-07-2016 20:48 via bizjournals.com
  Baltimore Business Journal
  CareFirst ups insurance rate increase request for 2017
  Baltimore Business Journal
  CareFirst BlueCross BlueShield is seeking a higher rate increase than expected — asking for a 27.8 percent increase to its HMO plan and a 36.6 percent increase to its PPO plan. Those rates are higher than the initial request CareFirst made of 12 ...and more »
  
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• Ex-Dallas Citibank Worker Who Sabotaged Computer System Going to Prison

  27-07-2016 18:49
  
  An employee who sabotaged Citibank’s computer system because he believed he was about to be fired has been sentenced to nearly two years in prison. Investigators say Lennon Ray Brown of Dallas transmitted a code and command in 2013 leading …
  
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• Former Bismarck, North Dakota Leader Files Complaint Against Over flooding

  27-07-2016 18:44
  
  A former city commissioner in Bismarck has filed a complaint with the North Dakota Department of Health accusing the city of neglecting to address sewer wastewater and storm water problems on the city’s south side for decades. A June 28 …
  
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• Allianz Unveils Transactional Liability Unit as M&A Surges

  27-07-2016 18:41
  
  Allianz Group is launching a new transactional liability unit designed to take advantage of greater M&A deal activity in the U.S. and, ultimately, around the world. The insurer’s Allianz Global Corporate & Specialty division will handle the roll-out, with an initial …
  
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• Arkansas Doctor Gets 2-Year Sentence in Insurance Fraud Case

  27-07-2016 18:39
  
  A Little Rock, Ark., doctor whose clinic improperly billed massage therapy services as physical therapy has received two years in prison and has been ordered to pay insurers and patients more than $700,000 in restitution. Robert Barrow pleaded guilty to …
  
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• 200 Have Died on Minnesota Roads So Far This Year

  27-07-2016 18:35
  
  Preliminary figures from the Department of Public Safety show that 200 people have died on Minnesota roads in 2016. The Office of Traffic Safety says the 200 mark was reached July 23, putting the number of road deaths on pace …
  
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• After 4 More Illnesses, General Mills Expands Flour Recall

  27-07-2016 18:33
  
  General Mills is expanding a flour recall issued over a possible link to an E. coli outbreak after four new illnesses were reported. The recall announced July 25 covers several varieties of Gold Medal and Signature Kitchens flour produced on …
  
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• West Virginia Funeral Home Ordered to Reimburse Insurer for False Death Claims

  27-07-2016 18:30
  
  A federal judge has ruled for an insurance company in its case against the operators of a funeral home in Putnam County, West Virginia, accused of filing false death claims on behalf of pre-need contract customers who weren’t actually dead. …
  
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• Louisiana Recovers More Than $3.7M for Insurance Consumers

  27-07-2016 18:30
  
  Louisiana consumers have received more than $3.7 million in recovered funds from their insurance companies in the first half of the year thanks to assistance from the Louisiana Department of Insurance (LDI). “Over the last five years, we have been …
  
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• POWERS Insurance Promotes Simkins to Commercial Account Manager

  27-07-2016 18:25
  
  POWERS Insurance and Benefits, headquartered in St. Louis, Mo., has promoted Amy Simkins to commercial account manager. Simkins will assist the company’s producers when pursuing new business avenues, as well as serving existing clientele. She previously served as POWERS Insurance and …
  
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• West Virginia Offering Millions in Minigrants to Flood-Damaged Businesses

  27-07-2016 18:24
  
  The state is making millions of dollars in minigrants available for small businesses damaged by deadly floods last month. Gov. Earl Ray Tomblin announced Monday that grants up to $10,000 will be awarded to small businesses through the RISE West …
  
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• Hub International Expands Southeast Presence with Acquisition of KeenanSuggs

  27-07-2016 18:17
  
  Hub International Limited has agreed to acquire the assets of KeenanSuggs Insurance Inc., based in South Carolina. Terms of the acquisition were not disclosed.  The deal is expected to close on August 1, 2016. With offices in Columbia, Greenville and …
  
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• Capsicum Re Hires Bousfield, Palmer and O’Dwyer-Smith to Cyber Team  

  27-07-2016 18:15
  
  Capsicum Re*, the specialist reinsurance broker, announced it has hired Patrick Bousfield, Jane Palmer and Alice O’Dwyer-Smith to its cyber team. They are based in the London office and report to Ian Newman, a partner in Capsicum Re’s London property …
  
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• Chubb CEO says luck is all some rivals have with political risks

  27-07-2016 18:13
  
  Coverage for trade credit and political risk can be particularly dangerous, given that the global economy faces growing protectionism.
  
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• Dublin Looks to Lure Financial Services Jobs from UK After Brexit Vote

  27-07-2016 18:00
  
  Irish recruiters are already filling jobs for financial services firms which are shifting some operations from the United Kingdom, with Dublin moving fast to steal a march on rivals just a month after Britons voted to leave the European Union. …
  
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• Insurance Journal Co-Sponsors MarshBerry Market & Financial Survey: Participate Now

  27-07-2016 17:42
  
  How are firms attracting and keeping new talent?  How are organizations using data to provide their clients with insights into their business? Will historical growth rates be sustainable?  What functions with an agency are becoming increasingly specialized?  These are some …
  
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• Average health insurance premiums fell after Obamacare took effect ... - CNBC

  27-07-2016 17:27 via cnbc.com
  
  CNBC
  Average health insurance premiums fell after Obamacare took effect ...
  CNBC
  You might not believe it's true, but more cost less after Obamacare began, a new analysis claims. The average premiums in the nation's individual health ...and more »
  
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• Around the P&C insurance industry: July 27, 2016

  27-07-2016 17:25
  
  News from Mitchell, CAPA, Integro and more.
  
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• FEMA Approves UMass Disaster Mitigation Plan

  27-07-2016 17:24
  
  The University of Massachusetts has won state and federal approval of plans to protect the system’s campuses from natural hazards. School officials say it’s necessary to prepare for threats such as storms or flooding amid climate change and the extreme …
  
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• Chubb Weathers Q2 Disasters; CEO Greenberg Hits Anti-Trade, Anti-Immigration Politics

  27-07-2016 17:10
  
  Chubb Ltd. weathered claims from major storms in Texas and other U.S. states, Canadian wildfires and earthquakes in Japan and Ecuador in the second quarter to record solid operating results. Operating income at the giant insurer formed with the merger …
  
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• California Wildfire Shuts Down Picturesque Big Sur

  27-07-2016 17:00
  
  State parks along the California’s famed Big Sur coastline were closed Tuesday as one of the state’s two major wildfires threatened the scenic region at the height of the summer tourism season. The Big Sur fire threatened a long stretch …
  
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• Idaho Rancher’s Family Initiates Wrongful Death Suit

  27-07-2016 16:46
  
  The family of an Idaho rancher authorities say was shot and killed by two Adams County Sheriff’s deputies has filed a legal notice of their intent to sue the county. The Idaho Statesman reported in a story on Tuesday that …
  
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• Colorado-Based ICAT Partners with Neon for Additional Cat Capacity

  27-07-2016 16:29
  
  Broomfield, Colo.-based ICAT has teamed up with Neon to provide an additional $10 million of per-risk capacity to catastrophe-exposed commercial properties in the U.S. The partnership expands ICAT’s per-risk catastrophe capacity to $150 million. ICAT’s focus is on helping homeowners …
  
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• Pressure Building on AIG CEO Hancock

  27-07-2016 15:31
  
  The American International Group Inc. chief executive officer has posted three straight quarterly losses and will probably report Tuesday that profit in the three months ended June 30 fell 32 percent, according to analysts surveyed by Bloomberg. Hancock has presided …
  
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• Reinsurance Cycle Is Not Dead Yet so Buyers Need to Put It to Good Use: JLT Re

  27-07-2016 14:49
  
  Despite proclamations by some observers that the reinsurance cycle is dead, JLT Re says, reports of its demise are greatly exaggerated – and now is the time for buyers to use the cycle, and reinsurance, to their advantage. Rates are …
  
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• Federal Workplace Safety Violation Fines Going Up Aug. 1

  27-07-2016 14:31
  
  Businesses that are found in violation of federal occupational safety and health laws will pay more in penalties starting Aug. 1. Under a law passed by Congress last year, penalties that were last adjusted in 1990 are going up nearly …
  
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• $14.7B WV Diesel Settlement Gets Preliminary Approval

  27-07-2016 13:56
  
  Volkswagen AG’s $14.7 billion settlement of its U.S. diesel emissions cheating scandal cleared another legal hurdle on Tuesday, as a federal judge gave the automaker preliminary approval to buy back up to 475,000 vehicles. U.S. District Judge Charles Breyer in …
  
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• $14.7B VW Diesel Settlement Gets Preliminary Approval

  27-07-2016 13:56
  
  Volkswagen AG’s $14.7 billion settlement of its U.S. diesel emissions cheating scandal cleared another legal hurdle on Tuesday, as a federal judge gave the automaker preliminary approval to buy back up to 475,000 vehicles. U.S. District Judge Charles Breyer in …
  
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• Insurance, data analytics and internal operations: untapped opportunities

  27-07-2016 13:30
  
  Here are four ways firms can better harness data analytics to improve their internal operations.
  
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• Got prospects on the fence? Here's how to talk them down

  27-07-2016 13:30
  
  Life would be so easy if prospects and clients just made a decision.
  
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• Global economy weathered $98B natural hazard loss in first half of 2016

  27-07-2016 13:15
  
  Global natural disaster losses during the first half of 2016 from both an economic and insured loss perspective were each above their 16-year (2000-2015) averages, according to report from Aon Benfield.
  
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• Going to the Rio Olympics? Keep these 7 threats in mind

  27-07-2016 13:00
  
  From kidnapping to Zika, Rio de Janeiro poses risks for tourists. Fortunately, you can take steps to reduce those risks.
  
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• Giving Kids the World, with WCI

  27-07-2016 13:00
  
  NU's editor-in-chief will emcee Give Kids the World annual fundraiser on Aug. 20 in Orlando.
  
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• Safety Board Finds Automated Tesla Involved in Crash Was Speeding

  27-07-2016 12:42
  
  Federal investigators probing the deadly wreck in Florida of a Tesla car that was using automated driving technology have found that the vehicle was speeding when it hit a truck. The U.S. National Transportation Safety Board said in a preliminary …
  
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• Low wages, high insurance force deputies out of Putnam Co. - Firstcoastnews.com

  27-07-2016 12:33 via firstcoastnews.com
  
  Firstcoastnews.com
  Low wages, high insurance force deputies out of Putnam Co.
  Firstcoastnews.com
  PUTNAM COUNTY, Fla. -- An unexpected insurance hike, coupled with perpetual low wages, is forcing Putnam County Sheriff's Office deputies out in droves. The sheriff's department hasn't seen a raise or significant budget increase in nearly a decade.
  
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• Drought in Northeast Could Last Through October

  27-07-2016 12:30
  
  At Lavoie’s Farm in New Hampshire, beans and corn haven’t broken through the ground yet and fields of strawberries are stunted. The drought that has taken hold in the Northeast is especially felt at John Lavoie’s farm in Hollis, presenting …
  
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• XL Group Completes Relocation of Domicile to Bermuda

  27-07-2016 09:20
  
  XL Group Ltd. announced it has completed its redomestication to change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. As previously announced, the name of the new holding company is XL Group Ltd. XL …
  
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• Vermont Police Say Drunken Driver Who Crashed Was Playing Pokemon Go

  27-07-2016 09:00
  
  Vermont State Police say a drunken driver was playing “Pokemon Go” on his cellphone when he crashed his car. Officers responded to a report of a crash at an intersection in Rutland Town at around 8:15 a.m. last Sunday. Police …
  
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• Correction: Catalina to Buy Hartford Financial Products International & Downlands Liability Management

  27-07-2016 08:48
  
  (Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International & Downlands Liability Management.” Insurance Journal regrets the omission.) Catalina Holdings (Bermuda) Ltd. announced its wholly …
  
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• Growth of China’s Shadow Banking Hikes Financial Risks for Banks, Insurers: Moody’s

  27-07-2016 08:24
  
  Shadow banking activity in China has expanded further and now accounts for nearly a third of the total banking sector assets, raising financial risks in the world’s second-largest economy, rating agency Moody’s Investor Service said on Wednesday. Shadow banking assets …
  
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• Graduate of Disabled Veterans Insurance Careers Hired to Florida Insurance Agency

  27-07-2016 08:15
  
  Disabled Veterans Insurance Careers (DVIC), the non-profit organization that helps train, educate and create employment opportunities within the insurance industry for disabled veterans, celebrated the graduation of Joanne Smith on June 30. Smith completed DVIC’s insurance training program. The five-month program prepares disabled veterans to embark on a …
  
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• VW’s $14.7 billion diesel-cheating settlement gets go-ahead

  27-07-2016 01:00
  
  The plan for buybacks and a possible fix covers car owners, the U.S. government and 44 states and will cost the company about $15.3 billion if the agreements are fully adopted.
  
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