Insurance news

• Could Rising Insurance Premiums Eradicate Unlawful Police Conduct? - Priceonomics

  13-10-2016 22:24 via priceonomics.com
  
  Priceonomics
  Could Rising Insurance Premiums Eradicate Unlawful Police Conduct?
  Priceonomics
  In the fall of 2013, the town council of Sorrento, Louisiana voted to abolish its own police department. Despite the obvious drawbacks of going without law enforcement protection, the vote was unanimous. Just two months earlier, a newly hired officer ...
  
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• Berkshire’s Gen Re promotes John Brogan to CEO of aircraft risk unit

  13-10-2016 20:36
  
  Berkshire was among the five largest insurers for aircraft risks in the U.S. and Canada in 2014.
  
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• Fintech Investment Slides as Insurance Tech Gains - Wall Street Journal

  13-10-2016 19:49 via wsj.com
  
  Wall Street Journal
  Fintech Investment Slides as Insurance Tech Gains
  Wall Street Journal
  The unexpectedly large turnout at last week's insurance technology conference in Las Vegas speaks to the changes in the fintech landscape. Organizers of InsureTech Connect had to scramble to pump audio and video from the opening session into an ...
  
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• Car Insurer Hagerty Opens its First U.S. Regional Office in Colorado

  13-10-2016 18:49
  
  Hagerty has opened its first U.S. regional office in Golden, Colo. McKeel Hagerty, CEO of Hagerty, said Golden was chosen because it has a diverse workforce, friendly business environment and proximity to a major airport. The Golden office, located at …
  
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• Samsung, U.S. expand phone recall to 1.9 million Note 7s

  13-10-2016 18:48
  
  The Note 7 devices were overheating and catching fire even after a recall that was supposed to fix the problem.
  
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• Natural Gas Company to Pay More than $1M in Fines over Oklahoma City Blast

  13-10-2016 18:37
  
  Oklahoma Natural Gas will pay more than $1 million in fines for a gas explosion in Oklahoma City. The Jan. 2 blast destroyed one home and damaged about 50 others. One person was burned and two people were treated for …
  
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• Citing Safety, Louisiana Transportation Agency Plans More Roundabouts

  13-10-2016 18:34
  
  Louisiana’s transportation department has kicked off an ad campaign touting the safety benefits of the roundabout, those traffic circles that are cropping up more and more in the state. The three-week safety campaign began Monday and runs through Oct. 28. …
  
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• Kansas Traffic Fatalities in 2016 Up 16%

  13-10-2016 18:30
  
  Kansas transportation officials say more than 300 people have died in traffic accidents this year, a 16 percent increase over the same period in 2015. Kansas Department of Transportation traffic safety manager Chris Bortz said there was a 25 percent …
  
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• AIR Estimates Hurricane Matthew Insured Losses at $8.8 Billion

  13-10-2016 18:28
  
  Hurricane Matthew, which devastated parts of the Caribbean before battering the U.S. East Coast, may cost insurers as much as $8.8 billion, according to AIR Worldwide. The catastrophe-modeling firm  estimates insured losses range from $2.2 billion to $6.8 billion for …
  
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• Red Wings Arena Contractors Fined for Lack of Detroit Workers

  13-10-2016 18:26
  
  Detroit officials say an estimated half-million dollars in fines have been levied on contractors working on the new Red Wings arena because the companies haven’t hired enough Detroit residents. Little Caesars Arena’s developer, Olympia Development of Michigan, is required to …
  
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• MarshBerry Enters Employee Stock Ownership Plan

  13-10-2016 18:24
  
  Marsh, Berry & Co. Inc., a Cleveland-area consulting and investment banking firm focused on the insurance industry, announced that the firm has become 100 percent employee-owned through an Employee Stock Ownership Plan (ESOP) Trust. The ESOP announcement was made to …
  
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• Grand Jury Probe of Michigan Governor’s Legal Defense Sought by Flint Resident

  13-10-2016 18:23
  
  A Flint resident is asking for a grand jury investigation of Michigan Gov. Rick Snyder’s decision to use at least $2 million in state funds for his legal representation related to criminal probes of the city’s water crisis. The complaint, …
  
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• 2 Workers Injured in Suburban Chicago Natural Gas Explosion

  13-10-2016 18:18
  
  Authorities say a natural gas explosion and fire at a townhouse complex in suburban Chicago has injured two utility workers. The explosion in Romeoville, Illinois, was reported Tuesday evening. Authorities say the explosion apparently stemmed from an earlier-reported gas leak. …
  
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• Deadline to Apply for Disaster Loans after Louisiana Flooding: Oct. 14

  13-10-2016 18:16
  
  Time is running out for business owners, homeowners and renters with damage from the August floods to apply for federal disaster loans. The Louisiana Department of Economic Development says the deadline to seek the low-interest loans from the U.S. Small …
  
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• Matthew may cost insurers as much as $8.8 billion, AIR says

  13-10-2016 18:03
  
  Insured losses range from $2.2 billion to $6.8 billion for the U.S. and from $600 million to $2 billion for the Caribbean.
  
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• These 2 Insurance Stocks Are a Good Bet - TheStreet.com

  13-10-2016 18:00 via realmoney.thestreet.com
  
  These 2 Insurance Stocks Are a Good Bet
  TheStreet.com
  I referenced Shelby Davis and insurance stocks earlier this week and have spent some time thinking about the legendary investor's approach to stocks. Davis built a fortune of about $900 million by investing in insurance stocks over a 47-year period ...
  
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• Three Found Guilty of in Separate Insurance Fraud Cases in Washington

  13-10-2016 17:24
  
  Insurance fraud cases investigated by Washington Insurance Commissioner Mike Kreidler’s special investigations unit have resulted in felony convictions against three people. David Cook, 51, pleaded guilty in Pierce County Superior Court of attempted first-degree theft. He is in Pierce County …
  
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• Finance Execs Should Slash Their Pay to Win Back Trust in Business: Lloyd’s CEO

  13-10-2016 17:20
  
  Finance executives should consider slashing their own paychecks as the U.K. works to exit the European Union in order to win back the trust of people who have lost faith in large businesses, according to Lloyd’s of London Chief Executive …
  
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• CEO Succession at U.S. Aviation Underwriters: Brogan to Succeed McKay in 2017

  13-10-2016 17:20
  
  United States Aviation Underwriter  Inc. (USAU), the manager of the United States Aircraft Insurance Group (USAIG), announced that David McKay, chairman and chief executive officer, plans to retire after nearly 40 years with the company.  McKay’s retirement will be effective …
  
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• How to sell insurance products people believe they don’t need

  13-10-2016 17:15
  
  Developing the right insurance messaging will take leaders who are willing to slay sacred cows, and an understanding that an emotional pitch works best.
  
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• Western Growers Names Cooper Director of Risk Strategy

  13-10-2016 17:09
  
  Western Growers has named Ken Cooper director of risk strategy. Cooper will spearhead the development of innovative on-site and virtual solutions to meet the loss control and safety needs of Western Growers’ members. Cooper most recently was regional vice president …
  
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• Study: Climate Change Has Doubled Western U.S. Forest Fires

  13-10-2016 17:02
  
  A new study says that human-induced climate change has doubled the area affected by forest fires in the U.S. West over the last 30 years. Since 1984 heightened temperatures and resulting aridity have caused fires to spread across an additional …
  
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• Experts Warn of Long Waits for Post-Hurricane Home Repairs

  13-10-2016 16:59
  
  There will be plenty of large-scale reconstruction to do in the wake of Hurricane Matthew, which has been blamed for dozens of deaths since it made its first U.S. landfall Friday and is still causing catastrophic flooding throughout eastern North Carolina. But in …
  
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• XL Catlin Opens 2nd Mexico Office; Matthey Named Client Distribution Leader

  13-10-2016 16:46
  
  XL Catlin has opened a second office in Mexico, located in Monterrey, and appointed Carlos Matthey as client distribution leader in that location. Monterrey is the capital of the state of Nuevo León, which has an economy comparable to that …
  
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• Euro CLOs touch new lows as French insurance bid deepens - Reuters

  13-10-2016 16:20 via reuters.com
  
  Euro CLOs touch new lows as French insurance bid deepens
  Reuters
  LONDON, Oct 13 (IFR) - A deepening bid from big-ticket buyers in Europe, Japan and the US has driven European senior CLO spreads to a fresh low of 110bp, with some managers eyeing even tighter prints. Tikehau Capital Europe has tightened the talk on ...and more »
  
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• Federal flood insurance should be privatized - Monroe News Star

  13-10-2016 16:15 via thenewsstar.com
  
  Monroe News Star
  Federal flood insurance should be privatized
  Monroe News Star
  The past decade has been relatively benign when it comes to hurricanes hitting the U.S. mainland. But the National Flood Insurance Program is still $24 billion in debt, thanks to the disastrous 2005 season that included Hurricanes Katrina, Rita and Wilma.
  Here's What You Need to Know About Flood InsuranceMoney Magazine
  Insurance claims pour in after hurricane, and some policyholders are realizing a hard truthVirginia
  
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• Florida CFO, insurance leaders tour Davis Shores, the 'ground zero' of Hurricane Matthew in St. Augustine - St. Augustine Record

  13-10-2016 15:26 via staugustine.com
  St. Augustine Record
  Florida CFO, insurance leaders tour Davis Shores, the 'ground zero' of Hurricane Matthew in St. Augustine
  St. Augustine Record
  Florida Chief Financial Officer Jeff Atwater, Insurance Commissioner David Altmaier, and State Senator Travis Hutson listen to Davis Shores homeowner Keith Brantly during a walking tour of the St. Augustine community to survey damaged caused by ...
  Over 37000 have filed insurance claims in FloridaFirstcoastnews.comall 2 news articles &raqu
  
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• Samsung’s Smartphone Recall Is Big But Far From Worst in History

  13-10-2016 15:21
  
  Samsung Electronics Co.’s recall of its fire-prone Galaxy Note 7 smartphone will be one of the biggest recalls ever in the technology industry. The South Korean conglomerate pulled the plug on the entire product line and slashed its third-quarter profit …
  
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• Sorting six Health Insurance myths from the Facts - Minyanville.com

  13-10-2016 15:13 via minyanville.com
  
  Sorting six Health Insurance myths from the Facts
  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. Hospitalization ...and more »
  
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• Eight Years After Ike, Insurance Firm Still Won't Pay Homeowner - Houston Press

  13-10-2016 15:07 via houstonpress.com
  
  Houston Press
  Eight Years After Ike, Insurance Firm Still Won't Pay Homeowner
  Houston Press
  Get the most out of your experience with a personalized all-access pass to everything local on events, music, restaurants, news and more. Enter your email or sign up with a social account to get started. FACEBOOK TWITTER GOOGLE+ YAHOO!
  
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• Swiss Re Corporate Solutions & Bradesco Seguros Agree to Form Brazilian Large-Risk Insurer

  13-10-2016 14:42
  
  Swiss Re Corporate Solutions Ltd. and Rio de Janeiro-based Bradesco Seguros S.A.* have signed definitive agreements under which Bradesco Seguros will contribute its commercial large-risk portfolio to Swiss Re Corporate Solutions Brasil Seguros S.A. (SRCSB). The agreements include SRCSB’s exclusive …
  
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• Catastrophe Insurance Market to Grow at 5.49% CAGR to 2020 - MarketWatch

  13-10-2016 14:34 via marketwatch.com
  
  Catastrophe Insurance Market to Grow at 5.49% CAGR to 2020
  MarketWatch
  2016 global catastrophe insurance market research says one of the key trends for market growth will be improvements in capital management leading to greater performance of different investments. Many insurance vendors are working to achieve market ...and more »
  
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• Using Big Data to Predict Terrorist Acts Amid Privacy Concerns

  13-10-2016 14:30
  
  Before Ahmad Khan Rahami planted bombs in New York and New Jersey, he bought bomb-making materials on eBay, linked to jihad-related videos from his public social-media account and was looked into by law enforcement agents, according to the Federal Bureau …
  
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• Vermont Officials Say Fire Deaths Declining Amid Safety Awareness Efforts

  13-10-2016 13:53
  
  State officials say fire-related deaths in Vermont have been gradually dropping in large part due to fire safety awareness efforts. The Brattleboro Reformer reported Monday seven people died in a fire last year compared to 22 in 2000 and 18 …
  
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• Aldermen hear about insurance incentives, projects - Danville Commercial News

  13-10-2016 13:47 via commercial-news.com
  
  Aldermen hear about insurance incentives, projects
  Danville Commercial News
  DANVILLE – Before cold weather strikes, some roadway and other projects are continuing in the city. Danville Engineering and Urban Services Director David Schnelle gave aldermen an update on some projects at the Danville City Council's Public Works ...
  
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• Swiss Re, Bradesco launch commercial insurance venture in Brazil - Reuters

  13-10-2016 13:44 via reuters.com
  
  Swiss Re, Bradesco launch commercial insurance venture in Brazil
  Reuters
  ZURICH Oct 13 Swiss Re and Brazil's Bradesco Group have launched a joint venture to create a commercial large-risk insurer in Brazil, the Swiss reinsurer said on Thursday. Swiss Re said its commercial insurance arm signed a definitive agreement with ...and more »
  
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• Maine Town Votes to Change Dangerous Dogs Law, 2nd Vote Planned

  13-10-2016 13:44
  
  Winslow, Maine, officials have voted at the first of two scheduled hearings to change the town’s rules on dangerous dogs after a woman was hurt and her dog was killed over the summer during an attack by two other dogs. …
  
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• Massachusetts’ A.I.M. Mutual Insurance Cos. Adds to Field Operations Team

  13-10-2016 13:37
  
  A.I.M. Mutual Insurance Cos., a Burlington, Mass., based workers’ compensation insurer, has named two to its field operations team. Daniel Landers has been named director of field operations, in which he will be responsible for underwriting, marketing and agency operations, …
  
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• Caribbean Cat Facility, CCRIF, to Pay $29.2M to Nations Hit by Hurricane Matthew

  13-10-2016 13:25
  
  CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payouts of US$29.2 million to CCRIF member countries as a result of damages incurred from Hurricane Matthew. The payouts, which will be made by October 19th, are detailed as …
  
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• Delaware Approves Amended Workers’ Compensation Rate Filing

  13-10-2016 13:15
  
  Delaware Insurance Commissioner Karen Weldin Stewart approved the Delaware Compensation Rating Bureau (DCRB)’s workers’ compensation amended rate filing, which recommends no changes in the overall levels of residual market rates and voluntary market loss costs for 2017. “I hope this …
  
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• Time to leave? How to execute your agency exit plan

  13-10-2016 13:00
  
  When it's time to capitalize on the value of your equity, follow these steps.
  
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• 5 things to know about condominium associations and insurance

  13-10-2016 12:00
  
  The condominium association is a separate entity and needs its own insurance coverage — separate from the unit owners. Here are five things you need to know about condo association insurance.
  
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• 5 things to do to keep employees safe while cleaning up after a hurricane

  13-10-2016 12:00
  
  People — and businesses — are in the midst of cleaning up after Hurricane Matthew, and the flooding he's left behind, but the danger isn't over yet.
  
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• Marsh Appoints King as Chief Client Officer, UK & Ireland

  13-10-2016 11:56
  
  Marsh has appointed Ailsa King as chief client officer, UK & Ireland. Reporting to Mark Weil, CEO, Marsh UK & Ireland, King will join Marsh’s UK & Ireland Executive Committee, and, subject to regulatory approval, will become a director of …
  
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• Uganda: Insurance Authority to Return Security Deposits - AllAfrica.com

  13-10-2016 11:41 via allafrica.com
  Uganda: Insurance Authority to Return Security Deposits
  AllAfrica.com
  Insurance Regulatory Authority (IRA) has issued an ultimatum to insurance companies and brokers that ceased operations to apply for withdrawal of their security deposits or risk losing their money. 36 firms will benefit from this gesture. "We gave them ...
  
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• Get more bang for your buck with pay-per-mile insurance - KFVS

  13-10-2016 11:17 via kfvs12.com
  
  Get more bang for your buck with pay-per-mile insurance
  KFVS
  (KFVS) -. You have to have car insurance if you want to legally drive, but if you don't drive that much, a pay-per-mile insurance plan may help you get more bang for your buck. That's the idea behind Metromile. It's an insurance company that calculates ...
  
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• Category 4 Hurricane Nicole Lashes Bermuda with Winds & Flooding Rain

  13-10-2016 10:26
  
  Hurricane Nicole, which has become a Category 4 hurricane, will continue to lash Bermuda with winds and flooding rain through Thursday, according to a report issued by AccuWeather. As a Category 4 hurricane with sustained winds of between 130 and …
  
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• LIU Launches War and Terrorism Coverage for U.S. Businesses

  13-10-2016 07:24
  
  Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched stand-alone war and terrorism coverage to protect U.S. businesses at home and their assets abroad. In 2014, the cost of global terrorism rose to levels not seen since 9/11 …
  
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• Records Show Company Shipped Millions of Pills to West Virginia

  13-10-2016 07:15
  
  Federal records show a drug company shipped 241 million hydrocodone and oxycodone pills to West Virginia over a five-year period. The Charleston Gazette-Mail (reports Cardinal Health’s shipment figures were disclosed in a 2015 court document filed as part of an …
  
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• FOO FIGHTERS Settle Lawsuit Against Insurance Companies - BLABBERMOUTH.NET

  13-10-2016 07:14 via blabbermouth.net
  
  BLABBERMOUTH.NET
  FOO FIGHTERS Settle Lawsuit Against Insurance Companies
  BLABBERMOUTH.NET
  According to Billboard, FOO FIGHTERS have settled their lawsuit against the world-famous 328-year-old insurance market Lloyd's Of London on claims related to several shows canceled during the band's 2015 world tour. Because it was dismissed with ...and more »
  
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