Insurance news

• President Obama declares state of emergency for Florida ahead of Matthew

  06-10-2016 23:32
  
  Obama's action authorizes FEMA to coordinate all disaster relief efforts and to provide appropriate assistance for required emergency measures.
  
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• You Should Be Able to Buy Stock in This Climate Friendly Beer

  06-10-2016 23:24
  
  Beer and coffee make nice bookends. One before the other can put you in the right frame of mind – I like coffee before beer, but whichever comes first all depends on what frame you want to be in. The top …
  
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• Insurance stocks plummet as South Florida braces for Hurricane Matthew - South Florida Business Journal

  06-10-2016 20:46 via bizjournals.com
  South Florida Business Journal
  Insurance stocks plummet as South Florida braces for Hurricane Matthew
  South Florida Business Journal
  As Hurricane Matthew built in strength and approached Florida's east coast Thursday, stock in insurance companies plummeted. Fort Lauderdale-based Universal Insurance Holdings (NYSE: UVE), an insurance holding company that offers insurance ...
  Why Shares of Universal Insurance Holdings, Inc. Are Rising TodayMotley Fool
  Prepare now for post-storm insurance cla
  
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• East Coast braces for Matthew

  06-10-2016 20:42
  
  Governors declare states of emergency as residents prepare for the worse.
  
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• Matthew on pace to be the strongest storm to hit U.S. since 2005

  06-10-2016 19:35
  
  The Category 4 storm is expected to make landfall near West Palm Beach and Melbourne overnight and then track north along the Atlantic coast racking up as much as $50 billion in economic losses.
  
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• How the insurance industry prepares for hurricanes

  06-10-2016 19:15
  
  The insurance industry is preparing for Hurricane Matthew and its aftermath too. Here's a look at what the industry is doing.
  
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• Hurricane Matthew: Watch out for these insurance surprises - CNBC

  06-10-2016 18:43 via cnbc.com
  CNBC
  Hurricane Matthew: Watch out for these insurance surprises
  CNBC
  Whether you're hunkering down or clearing out in advance of Hurricane Matthew, take stock of your homeowner's or renter's policy and the limits of your coverage. The hurricane is expected to make landfall — or at least come close to the eastern ...
  Hurricane Matthew: Before it hits, take these insurance precautionsUSA TODAY
  Hurricane Matthew Could Cost Up to $30 Billion in Insurance LossesMoney Magazine
  Heritage Insuranc
  
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• Former Texas Stamping Office Chair Receives NAPSLO Award

  06-10-2016 18:18
  
  Texas-based The Parks Group’s Lana Parks is this year’s recipient of the Richard M. Bouhan Legislative Advocacy Award from the National Association of Professional Surplus Lines Offices (NAPSLO). Parks serves as co-chair of the Legislative Committee for NAPSLO and has …
  
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• ‘Transportational Use’ Car Insurance Appeal on Michigan Supreme Court Docket

  06-10-2016 18:07
  
  If you hurt yourself while pulling stuff from your car, should your insurance company be on the hook for the injuries? The Michigan Supreme Court is opening a new term this week with arguments in that case and many others, …
  
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• Arkansas-Based Tyson Foods to Pay $1.6M to Settle Hiring Charges

  06-10-2016 18:02
  
  Tyson Foods Inc., will pay $1.6 million to settle federal allegations of hiring discrimination at six plants in Arkansas, New Mexico and Texas. Tyson and the U.S. Labor Department announced the deal on Oct. 4. The agency alleged the Springdale, …
  
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• Michigan Agent Named to InVest National Board

  06-10-2016 17:30
  
  Barbara Walker has joined the national board of the insurance industry classroom-to-career education program, InVEST, as an agent member. Walker is vice president of Hartland Insurance Agency Inc., in Hartland, Michigan. Walker has more than 35 years of experience in …
  
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• Hiscox Launches Crime Cover to Protect UK & Irish SMEs Against Fraud

  06-10-2016 17:30
  
  Specialist insurer Hiscox has launched a new crime product, Hiscox Crime Insurance, designed to protect small businesses in the UK and Ireland against a broad range of fraudulent acts from both internal and external parties. Designed to complement other commercial …
  
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• Illinois’ Ingensa Insurance Services Acquired by Plexus Groupe

  06-10-2016 17:27
  
  The Plexus Groupe LLC, a privately held national insurance brokerage and risk management consultancy headquartered in Deer Park, Illinois, has acquired Carol Stream, Ill.-based Ingensa Insurance Services, a diversified insurance and financial services firm offering expertise in property/casualty, employee benefits, …
  
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• Oklahoma Focused on Replacing Obsolete, Deficient Bridges

  06-10-2016 17:23
  
  The Oklahoma Transportation Commission has decided that an 80-year-old bridge over a creek in Guthrie will be replaced as part of a continued effort to decrease the number of obsolete bridges in the state. In 2004, 17 percent of the …
  
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• California Comp Report Shows High IE and OC Medical and Indemnity Payments

  06-10-2016 17:19
  
  Average medical and indemnity payments on claims were much higher in San Bernardino, Riverside, Orange and Imperial counties than the rest of the state, according to the latest Regional Score Card issued by the California Workers’ Compensation Institute. The score …
  
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• Mortgage Companies in Utah Will Settle for $10M

  06-10-2016 17:01
  
  Two Utah mortgage lenders will pay a total of nearly $10 million to settle allegations that they approved borrowers without documenting information like income and credit history. The U.S. Department of Justice said this week that the Salt Lake City-based companies …
  
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• USGS Confirms M3.1 Quake Hits in Oregon

  06-10-2016 16:59
  
  The U.S. Geological Survey confirmed that a minor earthquake hit roughly16 miles northeast of Salem, Ore. The agency says a magnitude-3.1 temblor struck at about 9:29 p.m. Monday with an epicenter about three miles northwest of Woodburn. The agency reported …
  
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• Workers’ Comp Benefits for Injured Workers Reach Historic Lows: Report

  06-10-2016 16:33
  
  Workers’ compensation benefits as a share of payroll have reached historically low levels, according to a new study released this week. Despite growth in employment during the economic recovery — and the corresponding uptick in employees covered by workers’ compensation …
  
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• $1.5B P&C underwriting loss ends 3-year profit streak

  06-10-2016 16:30
  
  Incurred losses and loss adjustment expenses drops net income drop by 30 percent.
  
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• Judge Allows Age Bias Suit Against Google

  06-10-2016 16:00
  
  A woman’s age-discrimination lawsuit against Google can include others who might have been denied a job with the company because they were deemed too old. A federal judge in San Jose, California, on Wednesday gave conditional approval for the suit …
  
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• Safety Violations Found in More Than Half of 240 New York Apartments Inspected

  06-10-2016 15:43
  
  New York City investigators say public housing maintenance workers ignored safety checks and covered it up. The Department of Investigation said in a report Tuesday that it re-inspected 240 apartments at five developments recently visited by maintenance workers. Over half …
  
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• Delaware Insurance Commissioner Advises Residents in Case of Hurricane Matthew

  06-10-2016 15:34
  
  Delaware Insurance Commissioner Karen Weldin Stewart is encouraging Delaware residents to take action now to prepare for potential damages and interruptions from Hurricane Matthew. Although it is too early to predict the long-term track of the storm, residents are encouraged …
  
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• Pennsylvania Nursing Home Chain to Pay $2M Settlement

  06-10-2016 15:13
  
  A Pennsylvania chain of nursing homes has agreed to pay $2 million to settle claims of failing to provide basic services to their customers. Attorney General Bruce Beemer announced the settlement with Reliant Senior Care Holdings on Tuesday. The company …
  
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• Hurricane Matthew Forces Cruise to be Cut Short, Other Postponements

  06-10-2016 14:58
  
  The threat of Hurricane Matthew has forced a cruise ship to reroute its trip and a sold-out island festival to be rescheduled in the Mid-Atlantic region. The Chincoteague Chamber of Commerce said in a news release Tuesday that Saturday’s Chincoteague …
  
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• New Jersey’s World Insurance Associates Appoints Margolies to Benefits Division

  06-10-2016 14:27
  
  World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, N.J., has appointed Howard Margolies as principal, senior vice president and head of the benefits division. This comes after World Insurance Associates recently entered the employee benefits business …
  
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• CAL Insurance in California Names Jacobs Assistant Vice President

  06-10-2016 14:00
  
  San Francisco, Calif.-based CAL Insurance & Associates Inc. has named Stafford Jacobs III assistant vice president, and property/casualty insurance advisor. Jacobs has nearly 20 years of experience. He previously was a broker, account manager and spent time on the carrier …
  
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• This Insurance Giant Is Getting Ready to Acquire Its Rivals - Fortune

  06-10-2016 13:34 via fortune.com
  
  Fortune
  This Insurance Giant Is Getting Ready to Acquire Its Rivals
  Fortune
  Japan's Dai-ichi Life Holdings dcnsf is gearing up to acquire domestic rivals as ultra-low interest rates push the country's $400 billion life insurance industry towards consolidation in the medium term, its president said. And as part of its growth ...and more »
  
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• BHSI Licensed to Provide Re/Insurance in Macau; Key Positions Announced

  06-10-2016 13:24
  
  Berkshire Hathaway Specialty Insurance Co. (BHSI) has received a license to provide insurance and reinsurance in Macau and filled key positions in its newly established Macau office. “It is a very interesting time in Macau, with continued diversification of the …
  
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• 9 ways to make better prospecting connections

  06-10-2016 13:15
  
  If refreshing your prospecting approach feels daunting, consider taking a page from the book, 'Simplify Your Work Life.'
  
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• Rising cost doesn't dissuade employers from offering health insurance - DesMoinesRegister.com

  06-10-2016 13:12 via desmoinesregister.com
  
  DesMoinesRegister.com
  Rising cost doesn't dissuade employers from offering health insurance
  DesMoinesRegister.com
  Iowa employers continue to face rising health-insurance premiums, but they're not dropping coverage of their workers, a new survey shows. “We're not seeing an exodus at all,” said David P. Lind, a Clive health care analyst who oversees the annual survey.
  13 Iowa counties to have only one health insurance provider option ...Omaha World-Heraldall 6 news articles &raqu
  
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• Inside Lloyd's: Demystifying the inner workings of the world's most famous insurance market

  06-10-2016 13:00
  
  This past July, National Underwriter Property & Casualty traveled to the storied Lloyd's of London for an exclusive tour of the market's building and inner workings.
  
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• Here's what Lloyd's of London looks like on the inside

  06-10-2016 13:00
  
  This past July, National Underwriter Property & Casualty traveled to the storied Lloyd's of London for an exclusive tour of the market's building and inner workings.
  
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• Home automation: Gains in efficiency but risks are uncertain

  06-10-2016 12:30
  
  The Internet of Things offers great promise but also some peril for your clients.
  
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• Rates are steady, but losses are severe in the professional liability market

  06-10-2016 12:00
  
  Anyone who provides a specialized service for a fee needs professional liability coverage. Need a new client? Try companies involved in the licensing, marketing and distribution of legal marijuana.
  
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• Dutch Insurer NN Group Launches Bid to Buy Delta Lloyd for €2.4B

  06-10-2016 11:34
  
  NN Group NV, the largest Dutch insurer by market capitalization, has launched an unsolicited offer to buy smaller rival Delta Lloyd NV for 2.4 billion euros ($2.7 billion) in cash. NN Group said on Wednesday it was offering to pay 5.30 euros per Delta …
  
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• Delta Lloyd, Endurance Deals May Herald a Wave of Insurance M&As

  06-10-2016 11:13
  
  NN Group NV and Sompo Holdings Inc.’s approaches for smaller competitors may herald a wave of mergers and acquisitions in an insurance industry that’s struggling with low interest rates and increased regulation. Japan’s Sompo agreed to buy Bermuda-based Endurance Specialty …
  
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• Myanmar banking group KBZ seeks insurance arm listing, fintech ally - Reuters

  06-10-2016 10:45 via reuters.com
  
  Myanmar banking group KBZ seeks insurance arm listing, fintech ally
  Reuters
  SINGAPORE Oct 6 Myanmar banking group KBZ is seeking to list its insurance arm on the domestic bourse as early as next year, a senior executive said on Thursday, as the formerly isolated nation slowly liberalizes its financial sector. The insurance arm ...and more »
  
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• Greenberg Denies Getting Involved in Details of Reinsurance Deals

  06-10-2016 09:20
  
  Maurice “Hank” Greenberg told a judge that he was just too busy to commit fraud. After 4 1/2 days of intense questioning by a government lawyer, Greenberg finally got to elaborate on his defense to civil fraud allegations through friendly …
  
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• MetLife Decides to Spinoff U.S. Retail Division

  06-10-2016 09:09
  
  MetLife Inc. has filed for a spinoff of a U.S. retail unit after considering alternate plans to sell the business or exit through an initial public offering. At least 80.1 percent of the shares in the unit, Brighthouse Financial Inc., …
  
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• Hurricane Matthew Heads to Florida; Losses Could Reach $15 Billion

  06-10-2016 09:05
  
  Hurricane Matthew has thousands fleeing the U.S. Southeast where it’s expected to batter the coastline and threaten electricity supplies to more than 1 million people. Potential losses are seen as high as $15 billion. The eye of Matthew is moving near …
  
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• Egregious insurance practice jeopardizes patients' health - Crain's New York Business

  06-10-2016 09:02 via crainsnewyork.com
  
  Egregious insurance practice jeopardizes patients' health
  Crain's New York Business
  As an organization leader, advocate, and patient I've had a front-row seat to the egregious insurance practice that jeopardizes the health and well-being of New Yorkers and all Americans. Known as step therapy, it forces patients to try less costly ...
  
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• Betting on the Insurance Industry of Tomorrow at InsureTech ... - Insurance Journal

  06-10-2016 09:02 via insurancejournal.com
  
  Insurance Journal
  Betting on the Insurance Industry of Tomorrow at InsureTech ...
  Insurance Journal
  There was a great turnout for the future of the insurance industry this week in Las Vegas. The occasion was the first InsureTech Connect Conference, which.and more »
  
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• Betting on the Insurance Industry of Tomorrow at InsureTech Conference - Insurance Journal

  06-10-2016 08:57 via insurancejournal.com
  
  Insurance Journal
  Betting on the Insurance Industry of Tomorrow at InsureTech Conference
  Insurance Journal
  There was a great turnout for the future of the insurance industry this week in Las Vegas. The occasion was the first InsureTech Connect Conference, which brought together an estimated 1,500 tech entrepreneurs, investors and insurance executives from ...and more »
  
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• Betting on the Insurance Industry of Tomorrow at InsureTech Conference

  06-10-2016 08:57
  
  There was a great turnout for the future of the insurance industry this week in Las Vegas. The occasion was the first InsureTech Connect Conference, which brought together an estimated 1,500 tech entrepreneurs, investors and insurance executives from around the …
  
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• All you should know about National Insurance Company - Minyanville.com

  06-10-2016 07:53 via minyanville.com
  
  All you should know about National Insurance Company
  Minyanville.com
  This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com. The National ...and more »
  
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• Inside Lloyd's: John Nelson and the Lloyd's Building

  06-10-2016 07:26
  
  In Part 1 of our two-part video series, NUPC talks to John Nelson about the Lloyd's market and learns about the rich history inside the market's modern-day building.
  
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• Assurant Partners with Website Security Firm on Cyberattack Prevention for Small Businesses

  06-10-2016 06:57
  
  Assurant, Inc., global provider of risk management options, has partnered with website security company GamaSec to help small and medium businesses lower the risk of attacks on their websites. Assurant is providing support for the limited warranty issued by GamaSec …
  
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• Florida Approves 97K Policies for December Take-Outs from Citizens

  06-10-2016 06:46
  
  The Florida Office of Insurance Regulation (OIR) has approved a total of 97,390 policies for December take-outs from Citizens Property Insurance Corporation by the following companies. December 20, 2016 Personal Residential Take-Out Period (total of 95,465): Avatar Property & Casualty …
  
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• Drugged Driving Leading Cause of Road Deaths in Tennessee

  06-10-2016 06:34
  
  Drugged driving has overtaken drunken and distracted driving as a factor in Tennessee traffic fatalities. Citing an analysis of Tennessee Highway Patrol data, The Tennessean reports the number of deaths from crashes with drug-impaired drivers leapt by 89 percent from …
  
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• Everest Taps Former Lexington Exec Curtin to Head E&S Property

  06-10-2016 06:30
  
  Christopher Curtin has joined Everest Insurance as head of Excess & Surplus (E&S) Property. Curtin joins Everest as vice president and National E&S leader, based in the Everest Insurance Boston office. He will be responsible for managing all facets of …
  
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