Insurance news

• Falling trees and your home and auto insurance - Napa Valley Register

  19-10-2016 23:28 via napavalleyregister.com
  
  Napa Valley Register
  Falling trees and your home and auto insurance
  Napa Valley Register
  Bruce Sackrison is a Napa Valley Register columnist who will write about property and casualty insurance matters. prev. next. If a tree falls in Napa, will the insurance company hear it? That's another way of asking, “Does homeowners insurance cover ...
  
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• Pallone: Companies that sell insurance should cap profits - Asbury Park Press

  19-10-2016 23:22 via app.com
  
  Asbury Park Press
  Pallone: Companies that sell insurance should cap profits
  Asbury Park Press
  Insurance companies that sell and administer flood insurance should have their profits capped because the federal government pays claims and Superstorm Sandy showed companies are not properly taking care of customers, Rep. Frank Pallone said ...
  NJ congressman: Cap profits of insurance companies handling Sandy claimsNew Jersey 101.5 FM Radio
  Rep. Pallone introduces bill to cap flood insurance comp
  
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• European Insurance Firms Launch New Blockchain Consortium - CoinDesk

  19-10-2016 23:18 via coindesk.com
  
  European Insurance Firms Launch New Blockchain Consortium
  CoinDesk
  Five major European insurance and reinsurance companies have partnered on a new blockchain initiative, seeking a potential new path for delivering faster and secure client services. The project, dubbed the Blockchain Insurance Industry Initiative, or ...and more »
  
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• City wants answers on weak insurance tax receipts - messenger-inquirer

  19-10-2016 23:11 via messenger-inquirer.com
  
  City wants answers on weak insurance tax receipts
  messenger-inquirer
  First it was net profits tax revenue underperforming. Now the city of Owensboro is concerned about a budding shortfall in insurance premium tax receipts that are needed to support both the general fund and to pay off loans taken out several years ago ...and more »
  
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• Insurance company won't pay for woman's chemo treatments — but physician-assisted suicide pills are approved - TheBlaze.com

  19-10-2016 22:09 via theblaze.com
  
  TheBlaze.com
  Insurance company won't pay for woman's chemo treatments — but physician-assisted suicide pills are approved
  TheBlaze.com
  “Compassion and Choice DENIED,” a recently released documentary, demonstrates how California's new law allowing terminally ill patients access to end-of-life drugs could be opening the door for insurance companies to deny treatment to patients with ...and more »
  
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• Health insurance exchange options limited in Missouri - Columbia Daily Tribune

  19-10-2016 21:05 via columbiatribune.com
  
  Health insurance exchange options limited in Missouri
  Columbia Daily Tribune
  Even as some of the largest private insurers exit the health insurance exchanges established six years ago by the Affordable Care Act, federal officials said consumers still have options for buying health insurance and possibly qualifying for financial ...
  
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• State Farm Agrees to Cut Rental Rates in California by 40%

  19-10-2016 20:55
  
  California Insurance Commissioner Dave Jones on Wednesday announced he has obtained an agreement from State Farm General Insurance Co. to reduce their rental dwelling program policyholders’ rates statewide by an average of 40 percent. The reduction is to be effective …
  
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• Detroit towing ploy involved collision shops, insurance - The Detroit News

  19-10-2016 19:39 via detroitnews.com
  
  The Detroit News
  Detroit towing ploy involved collision shops, insurance
  The Detroit News
  Six suspended Detroit police officers are accused of being part of an elaborate scheme involving collision shops which stripped stolen vehicles and collected thousands of dollars from insurance companies for unnecessary repairs, according to a police ...and more »
  
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• Lawmakers examining use of credit scores to set insurance premiums - Norman Transcript

  19-10-2016 19:22 via normantranscript.com
  
  Norman Transcript
  Lawmakers examining use of credit scores to set insurance premiums
  Norman Transcript
  Protesters mill about the south steps during the Oklahoma PTA rally at the state capitol in Oklahoma City Monday, March 30, 2015. (Jay Chilton / The Transcript). prev. next. Lawmakers heard testimony from members of the insurance industry, consumer ...and more »
  
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• Around the P&C insurance industry: Oct. 19, 2016

  19-10-2016 19:00
  
  News from AXA, Aon Benfield, Munich Re and more.
  
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• Venture Capital Prowls into the Life-Insurance Business - Wall Street Journal

  19-10-2016 18:55 via wsj.com
  
  Wall Street Journal
  Venture Capital Prowls into the Life-Insurance Business
  Wall Street Journal
  An early investor in the online-lending boom has turned its sights to life insurance. Ladder Financial Inc., a Silicon Valley startup that offers term-life-insurance policies for California residents, said Wednesday it raised $14 million in a new ...and more »
  
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• Disaster Loans Available to Mississippi Businesses Affected by Drought

  19-10-2016 18:34
  
  The U.S. Small Business Administration says federal Economic Injury Disaster Loans are available in Mississippi as a result of a drought that began Aug. 9. The SBA said in a news release the loans would be available to small businesses, …
  
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• South Carolina Nursing Home Accused of Negligence After Resident Drowns in Puddle

  19-10-2016 18:29
  
  David Outlaw was a survivor, so much so that his brother can’t believe how he died, drowning in a puddle, pinned underneath his wheelchair after being left alone at the height of Hurricane Matthew to smoke outside his South Carolina …
  
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• New Texas ‘Two-Step’ Program Aims to Simplify Workers’ Comp Disputes

  19-10-2016 18:21
  
  The Texas Division of Workers’ Compensation is taking a promising pilot program statewide to help simplify and speed resolution of some disputes. A pilot started last year splits up related claim issues so that a hearing officer can decide the …
  
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• Attack on North Carolina GOP Office Under Investigation

  19-10-2016 18:21
  
  Investigators combed through shards of glass, looked for residue of flammable accelerant and tried to narrow down the overnight hours when someone torched a local Republican Party office by throwing a flammable device through the window. The mayor said he …
  
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• McDonald’s to Pay $56.5K to Settle Federal Discrimination Case in Missouri

  19-10-2016 18:09
  
  McDonald’s will pay a $56,500 settlement after a southeast Missouri restaurant manager refused to interview a deaf job applicant. The U.S. Equal Employment Opportunity Commission announced the settlement with McDonald’s Corp. and McDonald’s Restaurants. A message seeking comment from the …
  
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• The Hilb Group Acquires Indiana Insurance Agency

  19-10-2016 18:03
  
  The Hilb Group LLC (THG) has acquired Indianapolis, Indiana-based Fundamental Insurance & Retirement Planning Inc. (FIRP). The transaction was effective October 1, 2016. FIRP provides a range of insurance offerings from property and casualty to life and health for businesses and …
  
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• Reinsurer cites lesson of failed marriages in shunning M&A

  19-10-2016 18:00
  
  Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, likened the risk of mergers and acquisitions to picking a spouse without being aware of how much can go wrong.
  
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• Could Allstate’s ‘5 Minute’ Small Business Policy Transform Commercial Lines Sales?

  19-10-2016 17:25
  
  At a time when technology startups are also targeting the small commercial insurance market, giant Allstate has debuted a hi-tech business insurance quoting platform that it says makes it possible for  small business owners to buy a policy in about …
  
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• California Commissioner Issues Decision on Workers’ Comp Regulatory Filing

  19-10-2016 17:20
  
  California Insurance Commissioner Dave Jones issued a decision regarding the Workers’ Compensation Rating Bureau’s Jan. 1, 2017 regulatory filing submitted to the California Department of Insurance in June. Jones approved all the changes to the Standard Classification System proposed by …
  
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• Minor Flooding Follows Downpour in Nevada Wildfire Area

  19-10-2016 17:12
  
  Fears of flooding are dissipating after rainfall helped quell a wind-whipped wildfire in Northern Nevada that destroyed 22 homes and 17 other structures in the Washoe Valley north of Carson City. Sierra Front Fire Management spokesman Mark Struble said that …
  
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• Gender-Bias Case Against Can Microsoft Proceed, Judge Rules

  19-10-2016 17:09
  
  A judge has allowed a class-action lawsuit alleging gender discrimination by Seattle, Wash.-based Microsoft Corp. to proceed. U.S. District Judge James Robart of Seattle in an order Friday denied the company’s request to dismiss key claims by women in the …
  
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• Washington Employer Fined for Asbestos Violations

  19-10-2016 17:03
  
  A Kirkland, Wash. asbestos removal contractor has been cited for several workplace health violations that reportedly put workers, contractors and homeowners at risk. The Department of Labor & Industries cited American Disaster Services Inc. a total of eight willful, serious …
  
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• Vague policy language can derail insurance contracts

  19-10-2016 17:00
  
  An analysis of two coverage questions: One concerning tenant liability, and the other on commercial property.
  
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• Employers spice up benefits, offer help with pet insurance, student loans - STLtoday.com

  19-10-2016 16:49 via stltoday.com
  
  STLtoday.com
  Employers spice up benefits, offer help with pet insurance, student loans
  STLtoday.com
  In this Wednesday, Sept. 30, 2015 photo, from left, Jo Armstrong, Julie Armstrong, Skylar Armstrong, Amelia Anderson, Nathan Anderson, Westley Armstrong and Dean Anderson sit together for a game at their home in Tucson, Ariz. At 42 with a blended ...and more »
  
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• Insurers and contractors start talks about property restoration issues

  19-10-2016 16:45
  
  Restorers would like standardized forms and quicker payment. Insurers want to make sure contractors actually know what they are doing.
  
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• 8 Insurance Stocks to Buy Now - Investorplace.com

  19-10-2016 16:14 via investorplace.com
  
  8 Insurance Stocks to Buy Now
  Investorplace.com
  This week, 8 Insurance stocks are improving their overall ratings on Portfolio Grader. Each of these stocks is rated an “A” (“strong buy”) or “B” overall (“buy”). White Mountains Insurance Group Ltd (WTM) boosts its rating from a C to a B this week.and more »
  
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• Native American Tribe Suing Connecticut for $613M for Land Taken in 1800s

  19-10-2016 15:53
  
  A Connecticut-based Native American tribe is suing the state for at least $613 million in damages for land it says was taken from the tribal reservation more than a century ago. The Schaghticoke Tribal Nation said in the suit filed …
  
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• New York to Test Blood of City Residents Exposed to Toxic Chemical

  19-10-2016 15:33
  
  New York is offering free blood tests for residents of a Hudson Valley city where the water supply was contaminated with a toxic chemical in fire-fighting foam used at a nearby Air National Guard base. State Health Commissioner Howard Zucker …
  
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• HUB International Promotes Brophy to President of East Region

  19-10-2016 15:26
  
  HUB International, a Chicago, Ill., headquartered global insurance brokerage, has announced that Charles Brophy has been promoted to president of HUB International’s East Region, spanning from Maine to the mid-Atlantic region. His appointment will be effective January 1, 2017. He …
  
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• New Jersey Man Sentenced to 3 Years in Prison for Insurance Fraud

  19-10-2016 15:03
  
  New Jersey Attorney General Christopher S. Porrino and the Office of the Insurance Fraud Prosecutor announced that a Woodbridge, N.J., man was sentenced to three years in prison for reporting that his motorcycle had been stripped of its parts by …
  
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• Judge ‘Strongly’ Inclined to Approve Volkswagen $14.7 Billion Settlement

  19-10-2016 14:49
  
  Volkswagen AG and car owners will likely secure a federal judge’s final sign-off on their $14.7 billion settlement as the automaker continues to seek regulators’ approval of a fix for 482,000 pollution-spewing vehicles still on U.S. roads. U.S. District Judge …
  
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• French Utility Firm Veolia Beefs Up Cyber Security to Protect Water Plants

  19-10-2016 14:19
  
  Veolia Environnement SA, the French utility that provided drinking water to 100 million people last year, has beefed up cyber security to protect installations from hackers. “Cyber crime is the main threat for the company,” Jean-Louis Fiamenghi, the head of …
  
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• Cobalt & Capita Plan to Launch Lloyd’s 1st Fully Shariah Compliant Syndicate

  19-10-2016 14:03
  
  Cobalt Insurance Holdings Ltd. and Capita Managing Agency Ltd. (CMA) have announced they have taken a significant step in the launch of Lloyd’s first fully Shariah compliant syndicate after receiving “in principle” approval from Lloyd’s Franchise Board. Cobalt Founder Richard …
  
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• 5 questions and answers about litigation holds

  19-10-2016 14:00
  
  Everyone has a duty to preserve documents and electronically stored information in order to prevent spoliation of critical claims evidence.
  
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• France to Hike Premium Tax to Bolster Compensation Fund for Attack Victims

  19-10-2016 13:39
  
  France plans to increase a levy on property insurance policies to 5.90 euros [$6.30] from 4.30 euros [$4.59] per contract to bolster a fund that provides compensation to victims of attacks or other criminal acts. Following the Islamist attacks in …
  
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• EU Needs Pan-European Pension Product to Cut Complexity, Costs: Regulator

  19-10-2016 12:33
  
  The European Union needs a common pension product because existing long-term savings offerings are too complex and costly, the region’s industry regulator said. “There are too many products and people don’t really understand them,” Gabriel Bernardino, chairman of EIOPA, the …
  
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• The cloud is less of a threat to cyber insurers

  19-10-2016 12:30
  
  Reliance on cloud services is a concern for underwriters, but with more effective security, the cloud benefits insurers in ways that may outweigh the risk.
  
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• How I learned to stop worrying and love ‘the cloud’

  19-10-2016 12:30
  
  Reliance on cloud services is a concern for underwriters, but with more effective security, the cloud benefits insurers in ways that may outweigh the risk.
  
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• Moon Appointed CEO of JLT Re Korea

  19-10-2016 12:23
  
  JLT Re, the London-based reinsurance broker and consultant, has appointed Jong Kuk (“JK”) Moon as CEO of JLT Re Korea. Moon will be based in JLT Re’s Seoul office and will report to Kenny Moyes, CEO, JLT Re Asia. “JK …
  
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• Philippines Readies for Super Typhoon Haima – in 2nd Storm in a Week

  19-10-2016 12:07
  
  The Philippines raised the storm alert for two northern provinces to its highest level as authorities moved people to safer ground, canceled work and suspended flights before Super Typhoon Haima is due to make landfall as soon as Wednesday night. …
  
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• Understanding business interruption and property insurance values

  19-10-2016 12:00
  
  Correct numbers ensure realistic insurance coverage limits.
  
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• 5 best practices for valuing water-damaged items

  19-10-2016 12:00
  
  Triaging contents saves time and sets realistic expectations.
  
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• Oklahoma Waiting for Guidance on Workers’ Comp Opt Out Transition

  19-10-2016 07:52
  
  There seems to be more questions than answers as to what happens next in the wake of the Oklahoma Supreme Court’s finding that the opt out portion of the state’s 2013 comprehensive workers’ compensation legislative overhaul is unconstitutional. That’s because …
  
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• First Consumer Class Action Filed Over Samsung Note 7 Smartphone

  19-10-2016 07:00
  
  Samsung Electronics Co.’s woes over the Galaxy Note 7 smartphone have moved into the courtroom. Three people who bought the phones, which were recalled because the Note 7 is prone to catching on fire and exploding, sued the electronics maker’s U.S. …
  
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• Bill Cosby Avoids Liability for PR Reps’ Statements Over Sexual Assault Claims

  19-10-2016 07:00
  
  Massachusetts federal judge Mark Mastroianni has rejected a bold attempt to pin liability on Bill Cosby over what his spokespersons told the press in reaction to women who accused the entertainer of sexual assault. Cosby is facing a defamation lawsuit …
  
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• CBIZ Insurance Services Adds 3 New Staff to Sarasota, Florida Office

  19-10-2016 06:00
  
  CBIZ has added three professionals to lead the new CBIZ Insurance Services, Inc. practice in Sarasota, Fla. Keith Mercier joins CBIZ as president of CBIZ Insurance Services, Florida, West Coast. In his new role with CBIZ, Mercier will be responsible …
  
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• Report Shows California and New Jersey Have Highest Workers’ Comp Rates

  19-10-2016 01:06
  
  California and New Jersey had the nation’s most expensive workers’ compensation rates, while North Dakota had the lowest rates in the nation, a new report shows. A report released this week by the Oregon Department of Consumer and Business Services …
  
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• Cogan Appointed Chief Legal Counsel at Ohio Workers’ Comp Bureau

  19-10-2016 00:30
  
  Ohio Bureau of Workers’ Compensation (BWC) Administrator/CEO Sarah Morrison has appointed Kevin Cogan as the bureau’s chief legal counsel. Cogan will be a member of BWC’s executive staff, responsible for coordinating all legal activities for BWC, providing legal advice and …
  
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• In Safety Push, Texas Troopers Riding School Buses

  19-10-2016 00:22
  
  Some Texas troopers are giving up patrol cars and instead ride school buses in a child safety effort. The Texas Department of Public Safety says the plan is part of National School Bus Safety Week, which began Monday and runs …
  
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