Insurance news

• Cavignac & Associates in California Names Riis Junior Account Executive

  14-09-2016 21:59
  
  San Diego, Calif.-based Cavignac & Associates has named Mike Riis a junior account executive. Riis initially will be trained to service existing clients, educate them on risk preventative measures, and recommend appropriate insurance coverage. Riis previously was employed as marketing …
  
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• Around the P&C insurance industry: Sept. 14, 2016

  14-09-2016 21:00
  
  News from Willis Towers, Hub, ALM Media and more.
  
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• Navigating the cyberinsurance maze: Inside the obligations and caveats

  14-09-2016 19:45
  
  Like many insurance policies, cyberinsurance can come with many caveats, and the devil is in the details.
  
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• Great American Insurance Promotes Cohen; Rosenthal to Retire

  14-09-2016 18:32
  
  Cincinnati, Ohio-based Great American Insurance Group has promoted Jason M. Cohen was promoted to divisional president of Strategic Comp, succeeding Stephen Rosenthal who will retire at the end of 2016. Cohen joined Great American in 2006 as divisional vice president …
  
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• Oklahoma Insurance Commissioner Clarifies Quake Coverage Moratoriums

  14-09-2016 18:23
  
  Oklahoma Insurance Commissioner John D. Doak wants to alleviate concerns about six-month moratoriums on purchasing earthquake insurance. The concerns were raised after a 5.8 magnitude earthquake in Pawnee on Sept. 3. A moratorium is a temporary suspension on issuing new …
  
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• Insurance Fight Prolongs Junk Yard Pollution in Indiana City

  14-09-2016 18:19
  
  Five years of court battles haven’t resolved the blame game between a western Indiana junk yard and one of the nation’s largest insurance companies over water pollution. Valley Forge Insurance has spent millions of dollars in an attempt to stop …
  
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• Oklahoma, EPA Shut Down 32 Wells Near Newly Discovered Fault Line

  14-09-2016 18:17
  
  A 5.8-magnitude earthquake and a series of smaller aftershocks in Oklahoma led to the discovery of a new fault line and stoked fears among some scientists about activity along other unknown faults that could be triggered by oil and gas …
  
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• $411K in Fines Proposed in Nebraska Grain Elevator Fatality

  14-09-2016 18:14
  
  A federal safety agency has proposed more than $411,000 in penalties against the operator of a south-central Nebraska grain elevator where a worker was killed. The Occupational Safety and Health Administration said in a news release that Cooperative Producers Inc. …
  
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• Lloyd’s chairman says cost-cut focus will move to broker margins

  14-09-2016 18:05
  
  Reinsurers, forced to cut prices for four years in a row, should target brokers’ fees as the industry seeks to reduce costs, according to Lloyd’s of London Chairman John Nelson.
  
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• Oklahoma Supreme Court Rules Workers’ Comp Opt-Out Unconstitutional

  14-09-2016 17:53
  
  The Oklahoma Supreme Court handed a major setback to proponents of workers’ compensation alternatives on Sept. 13, ruling that the state’s Opt Out Act is unconstitutional. The high court’s 7-2 ruling came in Vasquez v. Dillards, which was appealed to the …
  
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• Oklahoma Supreme Court Rules Workers’ Comp Opt-Out Act Unconstitutional

  14-09-2016 17:53
  
  The Oklahoma Supreme Court handed a major setback to proponents of workers’ compensation alternatives on Sept. 13, ruling that the state’s Opt Out Act is unconstitutional. The high court’s ruling came in Vasquez v. Dillards, which was appealed to the state …
  
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• Insureon Turns to Silicon Valley Executive Somers to Head Retail Unit

  14-09-2016 17:24
  
  Online small business insurance agency Insureon said it has added f Silicon Valley veteran Jeff Somers as president and head of retail. Somers was most recently chief product officer at Ticketmaster. Somers has also held leadership positions with eBay, Microsoft, …
  
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• Small Quake Jolts San Francisco Bay Area: USGS

  14-09-2016 16:52
  
  A small earthquake rumbled beneath the San Francisco Bay area on Tuesday and was widely felt across the region. The U.S. Geological Survey says the magnitude 3.5 temblor struck at 12:40 a.m. PDT and was centered just to the east …
  
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• Alliant in California Brings on Blankenship as Executive Vice President

  14-09-2016 16:35
  
  Newport Beach, Calif.-based Alliant Insurance Services Inc. has named Crys Blankenship an executive vice president in its healthcare practice. Blankenship will provide insurance and risk management solutions to a nationwide portfolio of healthcare clients, with a focus on large, complex …
  
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• Answer Financial Names Bur to Direct Business Development

  14-09-2016 15:48
  
  National auto and home online insurance agency Answer Financial has hired Eric Bur, most recently with The General,  as director of Business Development. Answer is expanding its business development team to grow its network of partners. Answer partners with businesses …
  
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• New York to Provide $5M in Grants to Prevent Workplace Injuries

  14-09-2016 15:46
  
  New York state is providing $5 million in grants to improve safety conditions in low-wage industries. Gov. Andrew Cuomo announced the program Saturday after participating in a Labor Day parade in New York City. The Democratic governor says the grants will …
  
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• New Jersey Condo Complex Fire Damages More Than Half of Units

  14-09-2016 15:41
  
  Authorities say no injuries were reported when a fast-moving fire damaged about a dozen units at a Bernards, N.J., condominium complex. Authorities say it started in a rear unit and isn’t considered suspicious. The fire at the Society Hill at …
  
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• Carrier to Exit New Jersey Health Exchange Marketplace

  14-09-2016 15:31
  
  State officials say a health insurance carrier is leaving New Jersey’s health exchange marketplace created under the Affordable Care Act, or ACA. Officials with Health Republic of New Jersey say the insurance co-op has been under “considerable financial strain” due …
  
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• Connecticut Based RiskMatch Hires Golden

  14-09-2016 15:25
  
  RiskMatch, a Greenwich, Conn., headquartered business intelligence and analytics firm that provides insurance portfolio management and placement support services to insurance brokers and insurers, has hired Michael Golden as chief market engagement officer. Golden has served in various leadership roles …
  
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• Re/Insurers May Be Entering Reserving ‘Danger Phase’: JLT Re Execs

  14-09-2016 15:22
  
  Re/insurers have released redundant liability reserves into their earnings for the past eight years as a result of favorable loss development. This practice has worked well to compensate for low investment yields and soft market prices. But have carriers gone …
  
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• Allstate CEO Driven by Opportunity in Transportation Disruption

  14-09-2016 15:11
  
  Allstate Corp., the largest publicly traded U.S. home and auto insurer, said the country’s transportation network is highly inefficient, with vehicles sitting idle for most of the day, and that the company is betting on inevitable changes to the system. …
  
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• Chubb Promotes Navakas to New York Overseas General Insurance Division

  14-09-2016 15:06
  
  Property and casualty insurance company Chubb has promoted Raimund Navakas to executive vice president of its Overseas General Insurance division based in New York. In this role, Navakas will continue to lead the division’s risk engineering practice and will be …
  
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• How to tell if your insured is being honest with you

  14-09-2016 14:45
  
  Speech patterns, body movements and gestures can be indicators of truthfulness.
  
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• Workers’ Compensation Market Enters Soft Market: A.M. Best

  14-09-2016 14:43
  
  The workers’ compensation market has likely entered a soft market phase based on a declining trend in price increases that began in 2013, according to a new report from A.M. Best. The report titled, “State Funds’ Net Premiums Written Increased …
  
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• Towergate Creates London Underwriting Unit; Leathem Named Director

  14-09-2016 14:35
  
  Insurance intermediary Towergate is forming a London underwriting centre to be led by David Leathem as London director of underwriting. The unit will focus on specialist London market product lines. Leathem will lead the establishment of a direct and facultative …
  
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• 11 Years After Spitzer Sued, Greenberg’s Trial Over Reinsurance Begins

  14-09-2016 14:14
  
  It’s a day of reckoning — or the moment of truth — for former American International Group Inc. head Maurice “Hank” Greenberg. More than 11 years after he was sued by former New York Attorney General Eliot Spitzer, Greenberg went …
  
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• New weapons in the war on fraud

  14-09-2016 13:00
  
  Fighting fraud isn't easy, but new tools are winning the war.
  
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• 9 ways to mess up your insurance business

  14-09-2016 13:00
  
  No matter their strengths, insurance businesses, like people, are always at risk.
  
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• Remapping may lead to insurance hikes - Appeal-Democrat

  14-09-2016 11:06 via appeal-democrat.com
  
  MyPalmBeachPost
  Remapping may lead to insurance hikes
  Appeal-Democrat
  Flood insurance is going to increase — probably by quite a bit for some, warn experts who are trying to do something about it. With federal remapping of floodplains in the works for some counties, professionals working in the field met in Sacramento ...
  National Flood Insurance Program Claim Filing Deadline Extended in LouisianaInsurance Journal
  National Flood Insurance Program Deadline Extended in Louisiana for Filing
  
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• Brush fires affect hunt for home insurance - Santa Clarita Valley Signal

  14-09-2016 11:00 via signalscv.com
  
  Santa Clarita Valley Signal
  Brush fires affect hunt for home insurance
  Santa Clarita Valley Signal
  Homebuyers purchasing property even slightly exposed to the threat of brush fires need to begin the hunt for home insurance early in the escrow process. That's especially true if it's the buyer's first home. First-time buyers may face delays or have ...
  
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• Mississippi Insurance Agent Charged in Prison Bribery Case - Insurance Journal

  14-09-2016 07:55 via insurancejournal.com
  
  Mississippi Insurance Agent Charged in Prison Bribery Case
  Insurance Journal
  An insurance agent from Jackson, Miss., is the latest person indicted in a corruption case tied to the former head of the Mississippi prison system. Guy E. “Butch” Evans, 61, appeared Aug. 24 in U.S. District Court in Jackson and pleaded not guilty to ...
  
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• Mississippi Insurance Agent Charged in Prison Bribery Case

  14-09-2016 07:47
  
  An insurance agent from Jackson, Miss., is the latest person indicted in a corruption case tied to the former head of the Mississippi prison system. Guy E. “Butch” Evans, 61, appeared Aug. 24 in U.S. District Court in Jackson and …
  
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• South Carolina Woman Stuck by Needle in Target Parking Lot Awarded $4.6M

  14-09-2016 07:36
  
  A jury has awarded a South Carolina woman more than $4.6 million after she was stuck by a hypodermic needle picked up in a Target parking lot. The Independent-Mail of Anderson reported Carla Denise Garrison’s award would be one of …
  
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• Big Reinsurers Pin Profit Hopes on Tailoring Coverages to Specific Risks

  14-09-2016 07:15
  
  In a world of increasing automation and standardization, Europe’s big reinsurers are betting that a more personal touch can reverse years of falling prices. Companies including Munich Re AG and Swiss Re AG are increasing their focus on policies that …
  
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• Ford CEO: Affordable Driverless Cars to Be in Showrooms in 10 Years

  14-09-2016 07:00
  
  Ford Motor Co. intends to start selling driverless cars to the public by about 2025, its chief executive officer said. The goal is to lower costs enough to make autonomous vehicles affordable to millions of people, CEO Mark Fields said …
  
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• Argentina Looks to Lower Workplace Injury Costs

  14-09-2016 07:00
  
  Argentina is preparing a new workplace injury law as it seeks to reduce costs for companies, some of which spend as much as 20 percent of their labor budget on insurance, said Cabinet Secretary Mario Quintana. The bill will prevent …
  
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• Florida's Olympus Insurance Promotes Burton to EVP of Underwriting, Business Development - Insurance Journal

  14-09-2016 06:34 via insurancejournal.com
  
  Insurance Journal
  Florida's Olympus Insurance Promotes Burton to EVP of Underwriting, Business Development
  Insurance Journal
  Florida homeowners' insurer Olympus Insurance Co., a leading Florida homeowners insurer, has promoted Bradley Burton to executive vice president of Underwriting and Business Development. In his new role, Burton will lead the company's underwriting, ...
  
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• Florida’s Olympus Insurance Promotes Burton to EVP of Underwriting, Business Development

  14-09-2016 06:34
  
  Florida homeowners’ insurer Olympus Insurance Co., a leading Florida homeowners insurer, has promoted Bradley Burton to executive vice president of Underwriting and Business Development. In his new role, Burton will lead the company’s underwriting, policy service and product development. He …
  
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• LIU, Huntersure to Offer Transactional Liability Insurance

  14-09-2016 06:19
  
  Liberty International Underwriters (LIU) and program administrator Huntersure LLC have partnered to offer transactional liability insurance. This program will offer coverages for representations and warranties, tax liability (including tax opinion and tax credit), and contingent liability. Underwritten by Huntersure and …
  
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• CompWest to Offer Workers’ Comp to Artisan Contractors in California, Utah

  14-09-2016 06:16
  
  CompWest Insurance has launched workers’ compensation insurance for artisan contractors in California and Utah. The program targets artisan construction operations with annual premiums between $25,000 and $250,000 in California and $15,000 to $150,000 in Utah. CompWest provides workers’ compensation insurance in California and select Western states, targeting customers in healthcare, …
  
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• Aon: Global Reinsurer Capital Hits Record $585B

  14-09-2016 04:11
  
  Total global reinsurer capital, which comprises capital both from the traditional and alternative markets, rose by four percent to a record USD585 billion over the six months to June 30, 2016, reinsurance intermediary Aon Benfield reported. Aon Benfield reported the …
  
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• Missoula County to look into internal insurance operations audit - The Missoulian

  14-09-2016 02:26 via missoulian.com
  
  Missoula County to look into internal insurance operations audit
  The Missoulian
  Interrupting discussion of who should sign certain checks for the county Risk & Benefit department, Missoula County commissioner Stacy Rye wondered in Tuesday morning's administrative meeting who exactly reviews that department's operation costs.and more »
  
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• Don't Skimp on Your Insurance - NewsOK.com

  14-09-2016 01:56 via newsok.com
  
  Don't Skimp on Your Insurance
  NewsOK.com
  Often I hear people say, “Insurance is a scam” or, “It's too expensive.” But I've never heard anyone complain about insurance when they've needed it. Some types of insurance are required. Banks require you to purchase homeowners insurance when you buy ...
  
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