Insurance news

• What Climate Change Has to Do with Earthquakes, Volcanoes and Tsunamis

  22-09-2016 22:15
  
  Climate change will cause more earthquakes. It’s as simple as that. Deniers, start your engines. If that isn’t enough to enflame the smoldering embers of discourse within those ready to pounce on any and all climate change notions they deem …
  
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• Yahoo says at least 500 million accounts breached in attack

  22-09-2016 21:48
  
  The attacker was a 'state-sponsored actor,' and stolen information may include names, e-mail addresses, phone numbers, dates of birth, encrypted passwords and possibly security questions and answers
  
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• National Flood Insurance Program Buys Private Reinsurance, Plans More in 2017 - Insurance Journal

  22-09-2016 19:54 via insurancejournal.com
  
  Insurance Journal
  National Flood Insurance Program Buys Private Reinsurance, Plans More in 2017
  Insurance Journal
  The federal government has contracted with private reinsurers to improve the National Flood Insurance Program's claims paying ability and reduce the need for the NFIP to borrow from the U.S. Treasury to cover future claims. The Federal Emergency ...and more »
  
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• Michigan Educator Is InVEST Program’s Teacher of the Year

  22-09-2016 18:40
  
  Monique Colizzi, who taught InVEST insurance courses at Charlotte High School (CHS) in Charlotte, Michigan, has been honored with the 2016 InVEST Teacher of the Year Award. The InVEST program, which is affiliated with the Independent Insurance Agents and Brokers …
  
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• National Flood Insurance Program Buys Private Reinsurance, Plans More in 2017

  22-09-2016 18:39
  
  The federal government has contracted with private reinsurers to improve the National Flood Insurance Program’s claims paying ability and reduce the need for the NFIP to borrow from the U.S. Treasury to cover future claims. The Federal Emergency Management Agency …
  
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• Arkansas Judge: Investors Can Sue Wal-Mart as Group Over Mexico Bribe Claim

  22-09-2016 18:24
  
  An Arkansas judge has ruled Wal-Mart Stores Inc. investors may bring fraud claims against the retailer as a group, clearing a hurdle in a lawsuit over bribes it allegedly paid to help open new stores in Mexico. The ruling will make it …
  
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• JenCap Holdings Acquires Missouri-Based M.J. Kelly Co.

  22-09-2016 18:19
  
  New York-based JenCap Holdings LLC has acquired privately-held M. J. Kelly Co. (MJK), a managing general agency and wholesale insurance brokerage based in Springfield, Missouri, with offices in nine states throughout the Midwest and Southeast. Since 1986, MJK has been …
  
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• Texas Nonsubscriber Specialist CPro Associates Buys Accident Insurance Services

  22-09-2016 18:12
  
  Dallas-based general agency CPro Associates Inc. has acquired Accident Insurance Services Inc., also of Dallas. Both companies specialize in Texas nonsubscriber occupational injury benefit plans. The stock purchase transaction becomes effective Oct. 1. Alan Hardin, CEO and founding partner of CPro Associates, …
  
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• Puerto Rico starts restoring power after island-wide blackout

  22-09-2016 18:05
  
  The outage forced the government to close schools and cancel classes at public universities. It also knocked out water service for 340,000 customers.
  
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• House Speaker Ryan Backs Louisiana Flood Aid In Spending Bill

  22-09-2016 18:00
  
  House Speaker Paul Ryan says he supports an immediate infusion of flood aid to Louisiana as part of a temporary government-wide spending bill that’s atop the congressional agenda before lawmakers leave Washington for the fall campaign. The bill also provides …
  
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• 3 Ways Drones Could Change the Insurance Industry - Fox Business

  22-09-2016 17:43 via foxbusiness.com
  
  Fox Business
  3 Ways Drones Could Change the Insurance Industry
  Fox Business
  Drones aren't just for hobbyists and wannabe pilots. The insurance industry could soon use unmanned aircraft to reduce fraud, evaluate risks, and collect valuable data to reduce losses. It's not something out of a science fiction novel. Already, one ...
  
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• The U.S. Environmental Protection Agency to Remove Asbestos from New York Factory

  22-09-2016 17:33
  
  The U.S. Environmental Protection Agency (EPA) is working to stop the potential spread of asbestos at the former Arkell and Smiths Sack Co. facility in Canajoharie, N.Y. Exposure to asbestos can lead to lung cancer and mesothelioma. “At the request …
  
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• Group Suing Chemical Giant Dow over Pesticide Used in California

  22-09-2016 17:05
  
  Chemical manufacturing giant Dow fails to warn people in farming communities throughout California when a potentially dangerous pesticide is applied to nearby fields, health advocates claimed in a lawsuit filed Tuesday. Telone is among the most commonly used pesticides in …
  
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• Home Insurers, Agents Face Satisfaction Gap with Affluent Gen Y Customers

  22-09-2016 16:35
  
  Overall, home insurers are performing better in customer satisfaction as they compete more on improving the customer experience than on price. However, there is one up-and-coming affluent consumer group — the Gen Y generation or those ages 22 to 39— …
  
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• New Jersey Homeland Security Monitoring Special Events After Bombing

  22-09-2016 15:28
  
  New Jersey’s Homeland Security Preparedness Office is asking officials to tell it when there are special events in their towns. The request comes after a pipe bomb exploded before the start of a charity race in Seaside Park on Saturday. …
  
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• Massachusetts Based John Hancock Insurance Company Names Watters a Director

  22-09-2016 15:15
  
  The Board of Directors of the John Hancock Life Insurance Company has elected Linda A. Watters as a director at its recent board meeting. John Hancock is the Boston, Mass., headquartered U.S. division of Manulife Financial of Toronto. Watters has served …
  
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• John Hancock Names Watters a Director

  22-09-2016 15:15
  
  The Board of Directors of the John Hancock Life Insurance Company has elected Linda A. Watters as a director at its recent board meeting. John Hancock is the Boston, Mass., headquartered U.S. division of Manulife Financial of Toronto. Watters has served …
  
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• Burns & Wilcox Names CRC’s Fuhrman to Retail Agency National Relationship Post

  22-09-2016 14:56
  
  H.W. Kaufman Financial Group and Burns & Wilcox announced that Marc Fuhrman will join the firm in a new role as national relationship manager. Fuhrman, based in Los Angeles, formerly served as senior vice president of National Agency Relations at …
  
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• NSI Insurance Group Acquires New York Based KMH Insurance Services

  22-09-2016 14:53
  
  NSI Insurance Group, a Miami Lakes, Florida, based privately held insurance agency, has acquired KMH Insurance Services, a New York based specialty insurance broker focused on serving marine and equine customers. Terms of the transaction were not disclosed. KMH president …
  
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• New MGA Verve to Target Liability Market for Insurance Agents, Insurers in U.S.

  22-09-2016 14:39
  
  Newly-launched managing general agency Verve Risk Partners plans to target U.S. professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers. The London-based MGA has been launched by Castel Underwriting Agencies Limited, a …
  
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• U.S. Autonomous Vehicle Policy Attempts to Straddle Lanes of Safety and Innovation

  22-09-2016 14:25
  
  The new U.S. policy on self-driving cars received a mixed reaction from highway-safety advocates who acknowledged the life-saving potential though warned of a world of “human guinea pigs.” The Transportation Department’s new guidelines give carmakers and states “the green light …
  
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• The Hartford Attracting Bidders for Annuity Runoff Business

  22-09-2016 14:12
  
  Hartford Financial Services Group Inc. is working with JPMorgan Chase & Co. to see if the insurer can find a buyer for Talcott Resolution, the unit that includes U.S. variable annuities, according to people familiar with the matter. Apollo Global …
  
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• 5 kinds of insurance you’ll be grateful you bought after a riot

  22-09-2016 14:00
  
  This week's protests in Charlotte, North Carolina, after a police shooting is a reminder that businesses often pay the price during times of civil strife. But there is protection available.
  
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• Mandatory Arbitration Clause Could Thwart Wells Fargo Customers’ Lawsuits

  22-09-2016 13:57
  
  Wells Fargo & Co. customers aiming to sue the bank over bogus accounts opened in their names may be in for an unpleasant surprise: the fine print requires them to take their claims to an arbitrator instead of a court. …
  
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• What the sales experts won't tell you: You're being too stubborn

  22-09-2016 13:00
  
  Stubbornly refusing to consider employing this strategy could be costing you sales.
  
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• Fiduciary rule causes insurers to pull back on financial products

  22-09-2016 13:00
  
  State Farm says it will not accept liability on the future sale of annuities or mutual funds. Meanwhile, Allstate, USAA and Nationwide plan to remain in the commission investment business.
  
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• Charitable work is part of Aspen Insurance's DNA

  22-09-2016 13:00
  
  To date, Aspen colleagues have raised more than $1 million, providing much-needed medical supplies, equipment and staff to support the growing Kiwoko Hospital.
  
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• Brake lock up causes fire in trucks

  22-09-2016 13:00
  
  Driving with locked brakes turns tires into 'hot' wheels.
  
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• 10 risks and misuses for drones

  22-09-2016 13:00
  
  More drones in the skies raise a number of new safety concerns, ranging from collisions and crashes to cyber attacks and terrorism.
  
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• Beazley Names Sanchez as International Breach Response Services Manager

  22-09-2016 12:53
  
  Beazley, the London-based provider of data breach response insurance, has appointed Rafael Sanchez as Beazley Breach Response Services (BBR Services) manager, International, to manage the breach response services provided with its international data breach business. Beazley said it has helped …
  
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• Aspen Risk Management Enters Renewal Agreement with Liberty Specialty Markets

  22-09-2016 12:36
  
  Aspen Risk Management Ltd. (ARML), the regional UK property and casualty business of Aspen Insurance, has entered into a renewal rights agreement with Liberty Specialty Markets (LSM), which is part of Liberty Mutual Insurance Group. Under the agreement, LSM’s UK …
  
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• Obamacare Has Increased Insurance Coverage Everywhere - FiveThirtyEight

  22-09-2016 11:00 via fivethirtyeight.com
  
  FiveThirtyEight
  Obamacare Has Increased Insurance Coverage Everywhere
  FiveThirtyEight
  When congressional candidates last hit the campaign trail in 2014, one word seemed to be at the top of the agenda for virtually every Republican: Obamacare. But that was before most of the law's provisions took effect. Two years later, the health law ...
  Skyrocketing Obamacare premiums still lower than employer-sponsored insuranceWashington Post
  Obamacare Doesn't Cost More Than Other Health Insurance, Report F
  
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• Lloyd’s to Move Some Business to EU if UK Loses Post-Brexit Passporting: Chairman

  22-09-2016 10:33
  
  The Lloyd’s of London insurance market will be ready to move some of its business to the European Union as soon as Britain starts divorce proceedings from the bloc, its chairman said on Thursday, the first indication that its plans …
  
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• Lloyd’s to Move Some Business to EU if UK Loses Post-Brexit Passporting

  22-09-2016 10:33
  
  The Lloyd’s of London insurance market is already working on plans to move some business to the European Union, aiming to be ready for the shift as soon as Britain starts divorce proceedings from the bloc, its chairman said on …
  
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• 3rd Party Managing Agent Asta Invests in Specialist MGA OverArk

  22-09-2016 09:55
  
  Asta, the London-based third party managing agent and specialist MGA investor, has concluded a transaction to finance the development of OverArk Ltd. Asta will take a minority equity stake in OverArk and will also support the company’s infrastructure, including finance …
  
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• Florida Residents Want Water Tested After Leak of 200M Gallons of Fertilizer

  22-09-2016 07:32
  
  Dozens of residents who live near a Florida fertilizer plant that has leaked more than 200 million gallons of contaminated water into a drinking water aquifer have asked for their water wells to be tested for pollutants. The Mosaic Co., …
  
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• Appalachian Underwriters Adds Reilly as Property Broker in Florida Office

  22-09-2016 07:19
  
  Appalachian Underwriters, Inc. has added a new property broker, Aaron Reilly, to the Sarasota, Fla., office. Reilly will be developing new business opportunities throughout the country in various property and casualty placements, including catastrophic wind, within the following classes: habitational, …
  
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• AAIS Files New Standardized Personal Auto Program Nationwide

  22-09-2016 07:08
  
  American Association of Insurance Services (AAIS), a national not-for-profit insurance advisory organization governed by its member companies, announced the filing and approval of a new standardized Personal Auto Program available for the P/C insurance industry. Alabama leads the states in …
  
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• Hiscox USA Expands Allied Healthcare Coverage to Pharmacies

  22-09-2016 06:10
  
  Hiscox has launched a new coverage designed specifically for pharmacies that will complement Hiscox’s existing tailored forms in Allied Healthcare, including ambulance and medical transportation, beauty salon and day spa, and home healthcare products. Hiscox’s set of coverages are customized …
  
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• Atlanta OKs Ridesharing Services at Airport

  22-09-2016 05:53
  
  The Atlanta City Council has approved a plan to allow Uber and other ridesharing services at Hartsfield-Jackson Atlanta International Airport. WXIA-TV reports the city council approved the plan 14-1 at its Monday meeting. It will take effect January 1, 2017. …
  
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• West Virginia Lawmakers Approve $85M in Flood Relief

  22-09-2016 05:45
  
  West Virginia lawmakers have finished a brief session addressing recovery costs from deadly floods in June. The Senate adjourned Tuesday after confirming gubernatorial appointments. The House of Delegates adjourned Monday. Senators unanimously approved a bill Monday allocating $85 million for …
  
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• Thousands bracing for insurance hike in Colorado - KKTV 11 News

  22-09-2016 05:04 via kktv.com
  
  KKTV 11 News
  Thousands bracing for insurance hike in Colorado
  KKTV 11 News
  COLORADO SPRINGS, Colo. (KKTV) Thousands of Coloradans will be shopping for new health insurance this year if you're not covered by your employer. But, it's bad news for those who need to because rates are about to skyrocket. An estimated 92,000 ...
  
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• ICICI Prudential: India's biggest IPO in six years shows that its insurance industry is poised for a take-off - Quartz

  22-09-2016 04:38 via qz.com
  
  Quartz
  ICICI Prudential: India's biggest IPO in six years shows that its insurance industry is poised for a take-off
  Quartz
  The huge success of the first-ever initial public offering (IPO) by an Indian insurance company, which ended on Sept. 21, indicates the opportunity for insurers in a country of 1.3 billion people with growing incomes and financial awareness. The public ...and more »
  
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• Alaskans endure rising insurance costs - Alaska Public Radio Network

  22-09-2016 03:42 via alaskapublic.org
  
  Alaska Public Radio Network
  Alaskans endure rising insurance costs
  Alaska Public Radio Network
  Alaskans shopping for individual health insurance on the federal exchange will only be able to choose from one insurer when open enrollment starts on November 1st. Listen now. Premera Blue Cross Blue Shield of Alaska is increasing premiums an average ...and more »
  
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• Former LA Broker Convicted of Stealing Insurance Premiums - Insurance Journal

  22-09-2016 03:14 via insurancejournal.com
  
  Former LA Broker Convicted of Stealing Insurance Premiums
  Insurance Journal
  Martin McCloskey, 69, of Piñon Hills, Calif., pleaded guilty this week to three felony counts of grand theft and theft of fiduciary funds after defrauding his customers by failing to remit to insurance companies more than $58,000 in premiums he ...
  
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• Former L.A. Broker Convicted of Stealing Insurance Premiums

  22-09-2016 03:14
  
  Martin McCloskey, 69, of Piñon Hills, Calif., pleaded guilty this week to three felony counts of grand theft and theft of fiduciary funds after defrauding his customers by failing to remit to insurance companies more than $58,000 in premiums he …
  
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• Listeria Fear Prompts Kellogg’s Eggo Waffle Recall

  22-09-2016 02:14
  
  Battle Creek, Michigan-based Kellogg Co. is recalling about 10,000 cases of its Eggo Nutri-Grain Whole Wheat Waffles in 25 states because they could be contaminated with the bacteria listeria. Listeria can cause serious and even deadly infections. It primarily affects …
  
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• AF Group Names AIG’s Kuss as Sr. VP, Chief Claims Officer

  22-09-2016 01:56
  
  AF Group, based in Lansing, Michigan, hired Jeff Kuss as senior vice president and chief claims officer. Kuss will lead a team responsible for claims administration, investigative services, medical management, large loss, subrogation and workers’ compensation practices for the organization. …
  
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• Worldwide Facilities Taps Perry As a Broker in Arizona

  22-09-2016 01:03
  
  Worldwide Facilities LLC has added Aaron Perry to its team of brokers in Phoenix, Ariz. He focuses on construction and manufacturing. Perry has six years of wholesale insurance experience. He was previously with firms including Horizon Risk Insurance Services Inc., …
  
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• Woman charged with deadly hit-and-run crash, daughter with ... - LA Daily News

  22-09-2016 00:57 via dailynews.com
  
  LA Daily News
  Woman charged with deadly hit-and-run crash, daughter with ...
  LA Daily News
  BURBANK >> A Glendale woman was arraigned Wednesday on a felony hit-and-run charge stemming from a crash that killed an 81-year-old man, and her ...and more »
  
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