Insurance news

• Hub Acquires California-Based Sweet & Baker Insurance Brokers

  04-10-2016 23:55
  
  Hub International Ltd. has acquired San Francisco, Calif.-based Sweet & Baker Insurance Brokers Inc. Terms of the deal were not disclosed. Bruce Callander, president of Sweet & Baker, will join Hub California and report to Kirk Christ, president of Hub …
  
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• Endurance surges as insurer in talks to be acquired by Sompo

  04-10-2016 23:07
  
  Sompo Japan Nipponkoa Insurance Inc. is planning to bid about $6.5 billion for the Bermuda-based insurer Endurance Specialty Holdings Ltd.
  
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• Switch to start-up yields surprising results for Activision employees' insurance - CNBC

  04-10-2016 21:50 via cnbc.com
  CNBC
  Switch to start-up yields surprising results for Activision employees' insurance
  CNBC
  Gina Hope loves her job helping market games like "Call of Duty," at Activision Blizzard in Los Angeles. Her health insurance was another thing. "I have a son with special needs," Hope explained. "We don't want to be switching from provider to provider ...and more »
  
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• Hurricane watch issued in Florida as Matthew pummels Haiti

  04-10-2016 20:53
  
  Hurricane Matthew is increasingly likely to have significant impacts along the Southeast U.S. coast later this week, but its future effects along the Northeast seaboard remain uncertain.
  
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• Switch to start-up has surprising results for Activision employees ... - CNBC

  04-10-2016 20:43 via cnbc.com
  
  CNBC
  Switch to start-up has surprising results for Activision employees ...
  CNBC
  Activision Blizzard employees are seeing positive results since the company switched to start-up insurer Collective Health.and more »
  
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• Insurers Hiscox, American Family Back Bunker, a Startup Broker for Gig Economy

  04-10-2016 20:30
  
  Bunker, a Hiscox and American Family-backed startup billing itself as the first contract-related insurance marketplace, has officially left startup mode and unveiled its first product. The target audience: independent contractors and small businesses. The San Francisco-based startup said it has …
  
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• Burritos-by-drone quietly tested in the mountains of Virginia

  04-10-2016 19:15
  
  In a closely guarded experiment involving the future of transportation, Project Wing is air-dropping fast-food onto the campus of Virginia Polytechnic Institute and State University.
  
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• State Farm Reminds Alabama Drivers to Watch Out for Deer

  04-10-2016 18:41
  
  Alabama motorists are getting a costly reminder to look out for deer while driving. State Farm, Alabama’s largest auto insurer, says in a statement that there were 28,794 insurance claims connected to deer collisions from July 2015 to the end …
  
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• Houston Machinery Rebuilder Fined $155K for Workplace Hazards

  04-10-2016 18:32
  
  A machinery rebuilding company in Houston was cited by federal safety regulators on Sept. 28 for exposing employees to workplace hazards. The U.S. Department of Labor’s Occupational Safety and Health Administration proposed $155,139 in penalties against Machinery Maintenance Rebuilders Inc. …
  
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• More than 2 million people missing out on Obamacare health-insurance subsidies - CNBC

  04-10-2016 18:24 via cnbc.com
  
  CNBC
  More than 2 million people missing out on Obamacare health-insurance subsidies
  CNBC
  An agent from Sunshine Life and Health Advisors offers insight to potential enrollees in Miami about the plans available last year under the Affordable Care Act. That's a lot of people leaving money on the table. About 2.5 million people now buying ...
  INSURANCE JUSTICE FOR KIDNEY FAILURE PATIENTSHuffington Post
  As insurance companies bolt from Obamacare, lawmaker prescribes a fix for N.J.NJ.com
  How did hea
  
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• Medical Marijuana Question OK’d for Future Oklahoma Ballot

  04-10-2016 18:22
  
  A petition that would legalize medical marijuana in Oklahoma will go before voters in a future election after a 10-day period that allowed for challenges over the validity of the signatures expired this week. Supporters of State Question 788 gathered …
  
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• Study: Arkansas Roads, Bridges Need $750M in Repairs

  04-10-2016 18:17
  
  The aging transportation infrastructure in Arkansas needs $750 million to make critical repairs, according to a recent study that identified bridges in danger of collapse and once-paved roads that have been reduced to gravel paths. County judges, legislators and advocacy …
  
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• Council Bluffs, Iowa Repairing, Upgrading Flood Protection System

  04-10-2016 18:14
  
  Council Bluffs, Iowa, officials are working to strengthen the levees protecting the western Iowa city before homeowners are forced to pay higher premiums for flood insurance. The Daily Nonpareil reports the city wants to complete the levee projects before the …
  
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• Iowa Request for Federal Disaster Declaration Approved

  04-10-2016 18:12
  
  The governor’s office says the White House has issued a presidential disaster declaration for eight Iowa counties hit hard by several storms in late August. The office of Gov. Terry Branstad said the counties are Allamakee, Chickasaw, Clayton, Fayette, Floyd, …
  
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• New Ohio Workers’ Comp Opioid Prescription Rule now in Effect

  04-10-2016 18:08
  
  A new rule governing the prescribing of opioids to treat Ohioans injured on the job took effect on Oct. 1, the Ohio Bureau of Workers’ Compensation (BWC) reported. The changes target the prevention of opioid dependence by encouraging appropriate prescribing …
  
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• J&J warns diabetic patients about hacking risks of insulin pumps

  04-10-2016 18:06
  
  Johnson & Johnson is warning users of its OneTouch Ping insulin pump that hackers could exploit a cybersecurity flaw to infuse additional doses of the diabetes drug without their knowledge.
  
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• California Workers’ Comp Board Submits Amended Rate Filing to Department of Insurance

  04-10-2016 17:55
  
  The WCIRB has submitted a pure premium rate filing to the California Department of Insurance proposing Jan. 1, 2017 advisory pure premium rates lower than the corresponding industry average and less than the average approved rates. In an original filing …
  
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• North Carolina Insurers Want Supreme Court Review of 25% Home Insurance Rate Hike Denial

  04-10-2016 16:51
  
  The homeowners insurance rate increase disagreement between the North Carolina Department of Insurance (NCDOI) and the insurance industry is not over. The North Carolina Rate Bureau (NCRB, which files rates with NCDOI on behalf of insurers writing in the state, …
  
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• Former Women’s Coach at California University Awarded $3.35M

  04-10-2016 16:28
  
  A jury has awarded $3.35 million to Beth Burns, the former women’s basketball coach for San Diego State who claimed she was fired for being a whistleblower. Burns prevailed in a suit that claimed she was wrongfully terminated. Burns was …
  
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• Oregon Woman Sues Nursing Home that Axed Her After Reporting Neglect

  04-10-2016 16:24
  
  A former employee of a Portland, Ore. nursing home has filed a lawsuit against the facility for $575,000, alleging she was fired in 2014 for reporting that a patient had been wounded because of neglectful care. The Oregonian/OregonLive reported Stacy …
  
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• New Hearing Ordered for Brown University Student Accused of Sexual Assault

  04-10-2016 15:44
  
  A federal judge says Brown University must hold a new disciplinary hearing for a student who said he was wrongly accused of sexual assault and suspended for two years. U.S. District Court Judge William Smith this week said the Ivy …
  
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• Singapore Approves Qatar Re Branch Licence

  04-10-2016 15:24
  
  Qatar Re said that the Monetary Authority of Singapore has granted the company a licence to operate a branch office in Singapore. The licence became effective as of 3 October 2016. Micky Lee, previously in charge of Qatar Re’s representative …
  
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• To Minimize Cyber Risk, Organizations Should Focus on Education

  04-10-2016 15:14
  
  Information security is not an easily digestible topic. The “what” is simple: securing information, but the “how” is where it gets tricky. Cyber criminals are cunning and are constantly coming up with new ways to steal information. The schemes are …
  
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• Wimbridge Joins Markel as Yacht Underwriter from Brit Global

  04-10-2016 15:12
  
  Specialty insurer Markel International in London has appointed Mike Wimbridge as senior yacht underwriter to its marine, energy and property division. Joining Markel’s existing hull and war team led by Jason Page, Wimbridge will have responsibility for developing and growing …
  
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• New York Home Explosion Points to Dangerous Marijuana Growing Methods

  04-10-2016 14:56
  
  An explosion that destroyed a New York City home and killed a firefighter has drawn attention to marijuana-making methods that are legal in many states – but can also be lethal. A New York fire battalion chief died responding to …
  
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• Hurricane Matthews Pounds Haiti, Cuba; 1 Death Reported

  04-10-2016 14:53
  
  The fiercest Caribbean storm in almost a decade ripped into Haiti’s southwestern peninsula early on Tuesday, packing 145 mile-per-hour (230 kph) winds and storm surges that killed at least one person and damaged homes. The eye of the violent Category …
  
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• China Insurance Market Ripe for Digital Disruption: Viewpoint

  04-10-2016 14:39
  
  China’s tech giants — Baidu, Alibaba and Tencent — increasingly have a finger in every part of the economy. So why aren’t they bigger participants in what should be an easy sell online: insurance? Some inroads are being made. Last November, …
  
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• Obama: Political Gridlock Worsens Obamacare Woes

  04-10-2016 14:27
  
  President Barack Obama said his signature health-care law has “real problems” that have been exacerbated by congressional gridlock and political polarization. “They’re eminently fixable problems in terms of strengthening the marketplace, improving the subsidies so more folks can get it, …
  
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• Investigation of New Jersey Train Crash Continues as Questions Remain

  04-10-2016 14:21
  
  The engineer of the New Jersey commuter train that crashed on Thursday told investigators he was fully rested but has no memory of the incident, and a recovered data recorder was not working, a National Transportation Safety Board official said …
  
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• Former XL, AIG Executive Maag Joins Hamilton Insurance as CEO for U.S.

  04-10-2016 14:00
  
  Former American International Group and XL executive Seraina Maag is joining Bermuda-based Hamilton Insurance Group as chief executive officer of Hamilton USA, the insurer’s platform for the U.S. Reporting to Hamilton Chairman and CEO Brian Duperreault, Maag will be responsible …
  
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• What Drivers Need in Order to Avoid Crash If Autonomous Systems Fail

  04-10-2016 13:50
  
  People operating self-driving cars need at least six seconds and some cues from the vehicle to “get back in the loop” and take control in time to avoid an accident, researchers say. There are already partially self-driving cars on the …
  
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• Kansas Workers’ Comp Rates to Drop Next Year

  04-10-2016 13:50
  
  Kansas Insurance Commissioner Ken Selzer announced that many business owners in the state will pay less for workers’ compensation insurance in 2017. It will be the second consecutive year for workers’ comp rate decreases in Kansas. Many of the approximately …
  
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• SEC May Use Yahoo Case to Set Data Breach Disclosure Rules

  04-10-2016 13:05
  
  Yahoo’s disclosure that hackers stole user data from at least 500 million accounts in 2014 has highlighted shortcomings in U.S. rules on when cyber attacks must be revealed and their enforcement. Democratic Senator Mark Warner last week asked the U.S. …
  
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• 7 steps to blow your Q4 sales goals out of the water

  04-10-2016 13:00
  
  Take the fear out of the fourth quarter by following these practical steps to ramp up your sales.
  
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• 5 areas where independent agencies are falling short on digital processes

  04-10-2016 13:00
  
  Applied Systems breaks down implementation practices in the agency management system, business intelligence, insurer connectivity, the cloud and mobile applications
  
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• Insurer suit claims investments were secretly funneled to hedge fund

  04-10-2016 12:00
  
  More courtroom drama: CNO sues executives at Beechwood Re, claiming funds were fraudulently redirected to hedge fund, Platinum Partners.
  
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• Valley Insurance Agency Alliance Promotes Qaoud

  04-10-2016 07:59
  
  Valley Insurance Agency Alliance (VIAA), based in St. Louis, Missouri, recently promoted Robert Qaoud to Alliance coordinator. Qaoud will be responsible for ensuring the alliance’s compliance, as well as seamlessly facilitating the additions of new members. He will serve as …
  
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• AXA CEO: Rumored Generali Takeover ‘Makes No Sense At All’

  04-10-2016 07:30
  
  French insurer AXA has no plans to merge with large rivals, its chief executive told a German newspaper, responding to recent speculation about a possible takeover of Italian peer Generali. “That makes no sense at all,” Thomas Buberl told Sueddeutsche …
  
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• Colony Specialty Adds Rubel as Sr. VP, Head of Binding Operations

  04-10-2016 07:11
  
  Gregory Rubel has joined Argo Group subsidiary, Colony Specialty, as senior vice president and head of binding operations in Dallas/Fort Worth area. Rubel joins Colony Specialty from Ace Westchester where he served as senior vice president, binding authority. Prior to …
  
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• Florida Approves Increases for Citizens Commercial Property Rates

  04-10-2016 07:02
  
  The Florida Office of Insurance Regulation (OIR) has issued an order establishing the 2017 commercial property rates for Citizens Property Insurance Corporation. Rates are going up for all accounts except the Commercial Property Non-Residential Multi-Peril. Some lines will see rate …
  
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• AIG Exiting Home, Personal Accident, Group Life In Brazil; Porto Seguro to Get Auto Policies

  04-10-2016 07:00
  
  American International Group Inc.’s business in Brazil agreed to transfer about 25,000 auto policies to a unit of Porto Seguro SA as the U.S. company scales back its international businesses. The deal is subject to regulatory approval, Sao Paulo-based Porto …
  
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• AIG Ending Personal Lines Business In Brazil; Porto Seguro to Get Auto Policies

  04-10-2016 07:00
  
  American International Group Inc.’s business in Brazil agreed to transfer about 25,000 auto policies to a unit of Porto Seguro SA as the U.S. company scales back its international businesses. The deal is subject to regulatory approval, Sao Paulo-based Porto …
  
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• Chinese Insurance Needs a Tech Shake-Up - Bloomberg

  04-10-2016 06:58 via bloomberg.com
  
  Bloomberg
  Chinese Insurance Needs a Tech Shake-Up
  Bloomberg
  Nisha Gopalan is a Bloomberg Gadfly columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter. Facebook · Twitter · Email; Print; Share. Oct 4, 2016 12:42 AM EDT. ALIBABA GROUP ...and more »
  
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• Edgewater Holdings, Brit Global to Offer Cyber Security Coverage

  04-10-2016 06:41
  
  Edgewater Holdings has collaborated with specialty insurer and reinsurer Brit Global Specialty to offer cyber security protection through the Employment Practices Risk Management Association (EPRMA). Policies purchased through Edgewater’s network come with membership to EPRMA and include value-added features such …
  
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• Paul Hanson Partners, Move-Pak to Offer Consulting Services for Moving & Storage Industry

  04-10-2016 06:00
  
  Paul Hanson Partners, an insurance program administrator for the moving & storage and transportation industry, has partnered with Move-Pak Consulting to offer new risk management services to moving & storage companies. The new partnership will provide discounted access to consulting …
  
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• Paul Hanson, Move-Pak Offer Risk Services to Moving Industry

  04-10-2016 06:00
  
  Paul Hanson Partners, an insurance program administrator for the moving and storage and transportation industry, has partnered with Move-Pak Consulting to offer new risk management services to moving and storage companies. The new partnership will provide discounted access to consulting …
  
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• Maritime Program Group Merges with Axiom Insurance Management of Atlanta

  04-10-2016 06:00
  
  Maritime Program Group (MPG), Inc. of Westbrook, Conn., has merged with Atlanta-based Axiom Insurance Management, Ltd. MPG’s President, Christopher Pesce, said the merger with Axiom positions the company to trade on Axiom’s expertise in heavier commercial marine operations as well as …
  
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• CNA Appoints Korte to Commercial Customer Segments Senior VP

  04-10-2016 03:54
  
  CNA announced the appointment of Dieter Korte to senior vice president, Customer Segments. In this role, Dieter will be responsible for the profitability, growth and strategic direction of CNA’s Commercial customer segments, including Construction, Manufacturing, Technology, Financial Institutions, Professional Services, …
  
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• Hamilton, AIG, Two Sigma Small Business Platform to Launch Q4

  04-10-2016 03:26
  
  American International Group Inc., Hamilton Insurance Group Ltd. and affiliates of Two Sigma Investments plan to launch Attune, a technology-enabled platform to serve the $80 billion U.S. small to medium-sized enterprise (SME) commercial insurance market. The launch is scheduled for …
  
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• IICF Names Breese Director of Marketing and Communications

  04-10-2016 02:48
  
  The Insurance Industry Charitable Foundation has named Alisa Breese director of marketing and communications. Breese has more than 15 years of experience developing marketing and communications plans and strategies within the insurance industry, both domestic and international. She previously worked …
  
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