Insurance news

• What ails the Obamacare insurance exchanges? (It's not what you ... - Los Angeles Times

  05-08-2016 21:42 via latimes.com
  
  Los Angeles Times
  What ails the Obamacare insurance exchanges? (It's not what you ...
  Los Angeles Times
  The big health insurer Aetna rattled supporters of the Affordable Care Act this week by threatening to leave some states where it offers Obamacare plans and ...and more »
  
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• People on the move in the P&C insurance industry: Aug. 5, 2016 - PropertyCasualty360

  05-08-2016 20:16 via propertycasualty360.com
  
  PropertyCasualty360
  People on the move in the P&C insurance industry: Aug. 5, 2016
  PropertyCasualty360
  Kansas City, Mo.-based independent insurance broker Lockton Cos. said it has added Andrew Carr as commercial insurance team leader. Carr joins from Integro Insurance Brokers, where he was a managing principal. He is basedin in Atlanta. Lockton also ...
  
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• People on the move in the P&C insurance industry: Aug. 5, 2016

  05-08-2016 20:15
  
  News from Lockton, Hub, XL Catlin and more.
  
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• State Issues Insurance Bulletins To Help Ellicott City Flood Victims - WBAL Radio

  05-08-2016 19:45 via wbal.com
  
  WBAL Radio
  State Issues Insurance Bulletins To Help Ellicott City Flood Victims
  WBAL Radio
  Ellicott City residents head to Main Street to review damage and retrieve items from their homes. Some of the Ellicott City flood damage. Credit: Robert Lang Some of the Ellicott City flood damage. Ellicott City residents head to Main Street to review ...
  Flood Insurance: Do you need it and how to get it?FOX 5 DCall 126 news articles »
  
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• A.M. BestTV: Staging the Summer Olympics Calls on Range of Insurance Coverages - Business Wire (press release)

  05-08-2016 18:49 via businesswire.com
  
  A.M. BestTV: Staging the Summer Olympics Calls on Range of Insurance Coverages
  Business Wire (press release)
  OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, insurers said the 2016 Summer Olympics in Rio de Janeiro (Rio) is bringing together a range of risk exposures and insurance coverages, including issues involving terrorism, construction, event ...and more »
  
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• Texas Manufacturer Faces $99K in Penalties Over Workplace Hazards

  05-08-2016 18:47
  
  A Texas-based pre-cast concrete structure manufacturer has been cited by federal safety officials for 17 repeat, serious workplace safety violations and faces penalties totaling $99, 248. The Turner Company LLP was cited by the Occupational Safety and Health Administration on …
  
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• Minneapolis council formally votes to block minimum wage, police insurance petitions - Minneapolis Star Tribune

  05-08-2016 18:40 via startribune.com
  
  Minneapolis Star Tribune
  Minneapolis council formally votes to block minimum wage, police insurance petitions
  Minneapolis Star Tribune
  The Minneapolis City Council formally voted Friday to block charter amendment proposals on minimum wage and police insurance from going to voters in November. The votes came two days after a contentious committee meeting in which supporters packed ...
  Minneapolis Council to Vote on Ballot Petitions for Minimum Wage, Police Liability InsuranceKSTP.comall 41
  
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• Employment Services Provider to Pay $1.4M to Settle Illinois Discrimination Charges

  05-08-2016 18:36
  
  A leading payroll processing and human resource management outsourcing provider will pay nearly $1.4 million to voluntarily resolve employment discrimination charges filed in Illinois with the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. In addition, ADP LLC has …
  
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• Illinois Medical Marijuana Program Grows, Sales Climb

  05-08-2016 18:26
  
  Illinois officials posted new forms this week for doctors and patients in the state’s medical marijuana program to reflect changes in the law, and announced that July retail sales reached a new high at $2.9 million. Gov. Bruce Rauner signed …
  
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• Michigan Insurance Agents Accused of Pocketing Premiums, Unlicensed Activity - Insurance Journal

  05-08-2016 18:21 via insurancejournal.com
  
  Michigan Insurance Agents Accused of Pocketing Premiums, Unlicensed Activity
  Insurance Journal
  The Michigan Department of Insurance and Financial Services (DIFS) has issued a cease and desist order against Angella Swain-Jones (alias Stacey or Sarah) and summarily suspended the insurance license of Cornell Jones and his agency Select ...
  
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• Michigan Insurance Agents Accused of Pocketing Premiums, Unlicensed Activity

  05-08-2016 18:20
  
  The Michigan Department of Insurance and Financial Services (DIFS) has issued a cease and desist order against Angella Swain-Jones (alias Stacey or Sarah) and summarily suspended the insurance license of Cornell Jones and his agency Select Insurance Services of Flint. …
  
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• A.M. Best Revises Outlooks to Positive for Bupa Insurance Company - Business Wire (press release)

  05-08-2016 18:16 via businesswire.com
  
  A.M. Best Revises Outlooks to Positive for Bupa Insurance Company
  Business Wire (press release)
  OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb+” of Bupa Insurance Company (Palmetto Bay, FL). The revised ...and more »
  
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• Settlements Reached in North Dakota with 4 Life Insurers

  05-08-2016 18:13
  
  North Dakota Insurance Commissioner Adam Hamm announced settlement agreements with four life insurance companies related to their use of the Social Security Administration’s Death Master File (DMF). As part of the settlements, Hartford Life will pay $2.1 million, Securian Life …
  
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• Regions Names Head of Insurance Unit - American Banker

  05-08-2016 18:08 via americanbanker.com
  
  American Banker
  Regions Names Head of Insurance Unit
  American Banker
  Movin' on up: Rick Ulmer, the new head of Regions Insurance Group, succeeds Curren Coco, who is leaving the company. Related. Enlarge This Image. Related. Regions in Alabama Adds Florida Insurance Agency · Regions Financial Acquires Insurance ...
  Regions Financial Names Rick Ulmer President and CEO of Regions InsuranceBusiness Wire (press release)all 2 news articles »
  
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• After Incidents, Race Organizers See Increase in Insurance Costs - Runner's World

  05-08-2016 17:37 via runnersworld.com
  Runner's World
  After Incidents, Race Organizers See Increase in Insurance Costs
  Runner's World
  On the day the bombs went off in Boston, someone from the Boston Athletic Association, or BAA, was responsible for finding a quiet place and making a difficult call. “If something happens, something you have to do immediately is contact your insurers ...and more »
  
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• Allianz profit worse than expected on disasters, unit sale

  05-08-2016 17:36
  
  Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit in Q2.
  
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• U.S. Risk Acquires Continental Marine in California

  05-08-2016 17:31
  
  U.S. Risk L.L.C. has acquired Continental Marine Insurance Services. Continental is a Lodi, Calif.-based wholesale insurance broker. Continental has specialized in placing marine insurance for both commercial and personal marine-related risks such as marinas, boat dealers, boat manufacturers, boat repairers …
  
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• Traffic Safety Investigators Probing California Bus Crash That Killed 4

  05-08-2016 17:21
  
  Federal safety investigators converged this week in central California to investigate a highway wreck that nearly sliced a bus in half, killed four people and injured 23. “At this point we don’t know what occurred immediately before the crash,” said Don …
  
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• Connecticut High Court Blocks Injury Suit Against Contractor

  05-08-2016 17:21
  
  Two workers injured in a power plant explosion that killed six other people in 2010 cannot sue a contractor for negligence, the state Connecticut Supreme Court recently ruled. Justices issued a 6-1 decision saying O&G Industries of Torrington is immune …
  
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• Insurer Hires Firm to Resume Work at Hartford Stadium

  05-08-2016 17:11
  
  Hartford’s mayor says work is set to resume on the city’s problem-plagued minor league baseball stadium, months after it was scheduled to open. Mayor Luke Bronin says the surety bonding company, Arch Insurance, has hired an architectural firm to complete …
  
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• Series of Small Quakes Hit Rural Northern California Area

  05-08-2016 17:10
  
  A series of small earthquakes rattled a rural area of Northern California overnight. The U.S. Geological Survey says a magnitude-4.7 quake struck at 9:55 p.m. Wednesday about 20 miles east of Janesville in Lassen County. It was followed within minutes …
  
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• Estimated Cost of Southern California Gas Leak Reaches $717M

  05-08-2016 17:07
  
  Southern California Gas Co. reported that costs related to the massive leak of natural gas from its Aliso Canyon storage facility near Los Angeles have risen to $717 million. The new estimate is contained in Thursday’s release of second-quarter earnings by …
  
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• Liberty Mutual Q2 Results Zapped by Energy Investments

  05-08-2016 17:03
  
  Liberty Mutual Holding Co. Inc. reported net income of $15 million for the second quarter, a 94 percent drop from the $254 million recorded for last year’s second quarter. Energy investments were largely to blame for the drop-off— pre-tax losses …
  
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• Reeves to Join Neon as Chief Risk Officer, in Move from RM Role at Lloyd’s

  05-08-2016 17:02
  
  Specialist Lloyd’s insurer Neon has appointed Olly Reeves to the role of chief risk officer. He will join Neon on Nov. 1, 2016 from his current role as head of Risk Management at Lloyd’s of London. Subject to regulatory approval, …
  
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• Remember the flood insurance scare of 2013? It's creeping back into Tampa Bay and Florida - Tampabay.com

  05-08-2016 16:23 via web.tampabay.com
  
  Tampabay.com
  Remember the flood insurance scare of 2013? It's creeping back into Tampa Bay and Florida
  Tampabay.com
  Three years ago, Tampa Bay was roiling over massive flood insurance rate hikes. Home sales in some neighborhoods literally stopped. Real estate agents warned the market could collapse. Lawmakers held town halls and rallied from Tallahassee to ...
  Important for homeowners to compare flood insurance optionsBradenton Heraldall 2 news articles »
  
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• NYC Officer Charged with Insurance Fraud

  05-08-2016 16:19
  
  The FBI says a New York City police officer had his Range Rover doused with gasoline and lit it on fire to collect $34,000 in insurance money. Special agent Jason Wake wrote in an August complaint that Carlos Becker discussed …
  
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• Third Point Re’s Q2 Net Income Rises to $53.4M in Biggest Profit Since 2013

  05-08-2016 15:39
  
  Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to $53.4 million, or 51 cents a …
  
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• British insurance company accused of preventing payments to Baltimore lead poisoning victims - Baltimore Sun

  05-08-2016 15:28 via baltimoresun.com
  
  Baltimore Sun
  British insurance company accused of preventing payments to Baltimore lead poisoning victims
  Baltimore Sun
  A London insurer is accused of trying to prevent payments to lead poisoning victims in Baltimore. State officials are investigating an allegation that a British insurance company is conspiring to prevent lead poisoning victims in Baltimore from ...and more »
  
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• 15 cities with the best-paying cybersecurity jobs

  05-08-2016 15:00
  
  The U.S. Bureau of Labor Statistics projects growth in cybersecurity jobs. Find out where the best-paying jobs can be found.
  
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• 3 ways on-the-job marijuana use could impact your business insurance - PropertyCasualty360

  05-08-2016 13:19 via propertycasualty360.com
  
  PropertyCasualty360
  3 ways on-the-job marijuana use could impact your business insurance
  PropertyCasualty360
  An employer that wouldn't allow an employee to work under the influence of alcohol or mind-altering prescriptions, should apply the same standard to working under the influence of marijuana. (Photo: Shutterstock). It has been four years since cannabis ...
  
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• 3 ways on-the-job marijuana use could impact your insurance

  05-08-2016 13:15
  
  Legalized marijuana usage creates real issues for employers.
  
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• 3 ways on-the-job marijuana use could impact your business insurance

  05-08-2016 13:15
  
  Legalized marijuana usage creates real issues for employers.
  
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• 23 ways to sharpen your sales performance

  05-08-2016 13:15
  
  These strategies will help you improve sales performance by keeping your focus on what matters most — your customers.
  
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• The latest on drone regulations

  05-08-2016 13:00
  
  The use of drones is growing at an unprecedented pace. What's new with federal and state regulations, and what insurers and policyholders need to know.
  
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• Insurers can't afford to wait for rising interest rates to shift gears

  05-08-2016 13:00
  
  Carriers may have to consider some major adjustments in their business, operating, and investment strategies to maintain, let alone grow, their bottom lines in this ‘Waiting for Godot’ environment.
  
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• Insurance Rules Can Hamper Recovery From Opioid Addiction - NPR - NPR

  05-08-2016 10:59 via npr.org
  
  NPR
  Insurance Rules Can Hamper Recovery From Opioid Addiction - NPR
  NPR
  Medicaid and other health insurers require doctors to file time-consuming paperwork before allowing them to prescribe drugs that help people quit opioids.and more »
  
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• Just 2% of China's July Floods Covered by Insurance, vs. Nearly 70% in US: Aon - Insurance Journal

  05-08-2016 10:00 via insurancejournal.com
  
  Just 2% of China's July Floods Covered by Insurance, vs. Nearly 70% in US: Aon
  Insurance Journal
  China's seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield's catastrophe model development ...and more »
  
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• Just 2% of China’s July Floods Covered by Insurance, vs. Nearly 70% in U.S.: Aon

  05-08-2016 10:00
  
  China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Affecting the Yangtze …
  
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• Allianz Q2 Profit Drops 46% on Nat Cat Claims, Expected Sale of South Korea Unit

  05-08-2016 09:19
  
  Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …
  
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• Bail halved for woman accused in insurance scheme - The Daily News of Newburyport

  05-08-2016 09:07 via newburyportnews.com
  
  Bail halved for woman accused in insurance scheme
  The Daily News of Newburyport
  NEWBURYPORT — Mary Kumar, the former car insurance agent who allegedly posed as the woman she stole from in Newburyport District Court this March, saw her substantial bail cut in half Wednesday to $100,000 from $200,000. Police say the ...
  
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• Good Risk Management Is Just Good Business: Steel, Former CRO of AXIS Capital

  05-08-2016 08:21
  
  Companies originally created the role of the chief risk officer because they “recognized that good risk management is really good business,” according to Michael Steel, former CRO at AXIS Capital. The role of CRO is a relatively new one for …
  
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• Virginia Insurance Bureau Opposes Anthem-Cigna Marriage - Insurance Journal

  05-08-2016 08:05 via insurancejournal.com
  
  Virginia Insurance Bureau Opposes Anthem-Cigna Marriage
  Insurance Journal
  Virginia's Bureau of Insurance says a proposed merger between health insurance giants Anthem and Cigna would be bad for consumers. The bureau issued ...and more »
  
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• Insurance fraud: 'It's all over the place,' and you should care about it, officials say - Omaha World-Herald

  05-08-2016 08:04 via omaha.com
  
  Omaha World-Herald
  Insurance fraud: 'It's all over the place,' and you should care about it, officials say
  Omaha World-Herald
  Insurance fraud is “all over the place,” says Douglas County Attorney Don Kleine. Here, investigators look for fly-by-night contractors after a Dallas tornado. Moore tornado. An agent surveys damage following the 2013 tornado that struck Moore, Oklahoma.
  
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• Virginia Insurance Bureau Opposes Anthem-Cigna Marriage

  05-08-2016 08:00
  
  Virginia’s Bureau of Insurance says a proposed merger between health insurance giants Anthem and Cigna would be bad for consumers. The bureau issued recently issued its analysis ahead of a decision by the State Corporation Commission whether to approve Anthem’s …
  
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• Tennessee Reports $1.5M in Insurance Restitution So Far in 2016 - Insurance Journal

  05-08-2016 06:35 via insurancejournal.com
  
  Tennessee Reports $1.5M in Insurance Restitution So Far in 2016
  Insurance Journal
  The Tennessee Department of Insurance's (TDCI) Consumer Insurance Services Section returned $1,577,917.59 to Tennessee consumers through the first half of 2016. The restitution efforts were the result of TDCI insurance investigators mediating between ...
  
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• Tennessee Reports $1.5M in Insurance Restitution So Far in 2016

  05-08-2016 06:27
  
  The Tennessee Department of Insurance’s (TDCI) Consumer Insurance Services Section returned $1,577,917.59 to Tennessee consumers through the first half of 2016. The restitution efforts were the result of TDCI insurance investigators mediating between insurance companies and policyholders to get denied …
  
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• Kentucky Launches School Bus Safety Campaign Targeting Motorists

  05-08-2016 06:18
  
  As a new school year approaches, billboards are going up in Kentucky to remind motorists to watch out for stopped school buses. The state Department of Education says about 45 billboards will warn of the danger of passing a stopped …
  
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• Alabama Driver Sentenced to 30 Years for Fatal High-Speed Crash

  05-08-2016 06:10
  
  A man in Blount County, Alabama, has been sentenced to 30 years in prison for going more than 100 miles per hour in a 2014 crash that killed one of his passengers. Al.com reports that 25-year-old Tyler L. Reynolds was …
  
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• Arthur J. Gallagher & Co. Acquires Miami-Based Gabor Insurance Services, Inc. - Insurance Journal

  05-08-2016 06:09 via insurancejournal.com
  
  Arthur J. Gallagher & Co. Acquires Miami-Based Gabor Insurance Services, Inc.
  Insurance Journal
  Arthur J. Gallagher & Co. has acquired Gabor Insurance Services, Inc., including its subsidiary, American Professional Liability Underwriters, headquartered in Miami, Florida. Terms of the transaction were not disclosed. Founded in 1992, Gabor ...
  
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• Chattanooga's car insurance lowest among Tennessee's largest cities, study says - Chattanooga Times Free Press

  05-08-2016 06:08 via timesfreepress.com
  
  Chattanooga Times Free Press
  Chattanooga's car insurance lowest among Tennessee's largest cities, study says
  Chattanooga Times Free Press
  Auto insurance costs less in Tennessee than in Georgia or Alabama – but more than in North Carolina, a recent study found. Photo by Contributed Photo /Times Free Press. Ranking. ValuePenguin's annual insurance premiums ranked by state: 1.and more »
  
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