Insurance news

• Jury in California Awards $18M Cosmetic Talc Cancer Verdict

  27-10-2016 23:13
  
  A Los Angeles, Calif. jury has returned a $18.07 million verdict against talc supplier Whittaker Clark & Daniels for its role in causing California political figure Philip Depoian’s mesothelioma. The jury verdict is the largest award on record for a …
  
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• Millions buying insurance outside exchanges amid ObamaCare woes - Fox News

  27-10-2016 22:31 via foxnews.com
  
  Fox News
  Millions buying insurance outside exchanges amid ObamaCare woes
  Fox News
  While premiums are set to rise by double digits on the ObamaCare exchanges, millions of Americans already have made the decision to abandon the markets altogether and shop for health care on their own – a trend the administration is fighting to reverse.and more »
  
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• California Worker Injuries, Illnesses Remain Stable

  27-10-2016 20:56
  
  There aren’t more workers getting hurt, but there aren’t less either, the latest available data shows. The Department of Industrial Relations has posted California’s 2015 occupational injury and illness summary data on employer-reported injuries, which is based on estimates provided …
  
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• Uber outlines vision for flying cars to transport city dwellers

  27-10-2016 20:42
  
  Uber refers to the nascent flying-car program as Uber Elevate.
  
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• How do you prove a subrogation claim?

  27-10-2016 19:00
  
  The role of evidence in subrogation arbitration differs from court proceedings. Here is a look at the seven categories of evidence.
  
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• Oil Spill Shuts Down Pipeline in Cushing, Oklahoma

  27-10-2016 18:28
  
  A Seaway Crude Pipeline Co. pipeline that spilled oil at a storage hub in Oklahoma remained closed on Oct. 25, according to a spokesman for Houston-based Enterprise Products Partners, a 50 percent owner of Seaway. “As of right now we …
  
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• Topeka, Kansas, Investigating High Number of Arson Fires

  27-10-2016 18:22
  
  Authorities from several agencies are investigating a higher-than-expected number of arson fires in Topeka. The Topeka Capital-Journal reports that 57 blazes have been intentionally set this year. That’s about 21 more than a city of Topeka’s size would expect. Topeka …
  
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• Louisiana’s Pointe Coupee Parish Designated Agricultural Disaster Area

  27-10-2016 18:20
  
  The U.S. Department of Agriculture has designated Pointe Coupee Parish as a primary natural disaster area due to damages and losses caused by severe storms and flooding that occurred in August. Farmers and ranchers in Avoyelles, Concordia, Iberville, St. Landry, …
  
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• Michigan Golf Course Verdict Puts Insurers in the Rough

  27-10-2016 18:17
  
  Did the weight of winter ice ruin the putting greens at three suburban Detroit golf clubs? That tricky issue was posed to jurors in federal court, who ruled in favor of the clubs last week in a dispute with insurance …
  
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• Mississippi case says rights to insurance must spring from contract

  27-10-2016 18:00
  
  May a third-party beneficiary of an insurance policy assert a negligence claim against the insurer and/or its agent arising from the policy’s procurement, rather than its fulfillment?
  
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• LWCC’s DeLaat Retires; Hofeling, McGhee Added to Executive Team

  27-10-2016 17:45
  
  Louisiana-based workers’ compensation insurer, LWCC, announced that Mike DeLaat has retired from his position as senior vice president and chief financial officer, and that two new members have joined the LWCC executive team — Vice President and Chief Financial Officer …
  
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• Public Sector Workplace Injuries, Illnesses Decline in Oklahoma

  27-10-2016 17:42
  
  Oklahoma public sector employers have reduced the rate of employee injury and illness to 3.8 per 100 workers, down from 4.0 in 2014, the Oklahoma Department of Labor reported. With the recent reduction, Oklahoma has seen a 47 percent decline in …
  
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• Baldwin Named 2016 Distinguished Partner by Michigan Professional Insurance Agents

  27-10-2016 17:40
  
  Cathy Baldwin, director of Marketing and Communication at wholesale insurance broker J.M. Wilson, has been named 2016 Distinguished Partner of the Year by the Michigan Association of Professional Insurance Agents (MI PIA). Every year, MI PIA awards an individual who …
  
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• Los Angeles Hospital to Pay $450K in Patient Dumping Settlement

  27-10-2016 17:06
  
  A hospital will pay $450,000 to settle a lawsuit contending it dumped a homeless woman with schizophrenia on Skid Row in Los Angeles. City Attorney Mike Feuer announced the settlement this week, more than a year after his office sued …
  
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• Idaho College Agrees to Settle VP’s $650K Lawsuit

  27-10-2016 16:59
  
  The College of Southern Idaho has agreed to pay a former vice president $650,000 to settle a discrimination lawsuit. The Times-News reported in a story on Tuesday that the settlement with Edit Szanto was made through the college’s insurer, the …
  
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• Lifeguards Knew of Danger at New Jersey Beach Years Before Man Drowned

  27-10-2016 16:35
  
  Lifeguards said they knew of potentially deadly conditions at their beach for at least six years before a man drowned when the sand gave way beneath him. Sandra Smith, of Horsham, Penn., is suing North Wildwood over the 2012 incident …
  
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• Willis Towers Watson Makes Additional Senior Management Changes

  27-10-2016 16:18
  
  Willis Towers Watson has announced additional leadership changes one day after confirming that Dominic Casserley, president and deputy CEO of Willis Towers Watson, will be leaving the firm at the end of the year. Today’s announcement said that Tim Wright, …
  
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• Long-Term Care Insurance Giant Genworth Takes Another Charge, Plans To Go Private - Forbes

  27-10-2016 16:07 via forbes.com
  
  Forbes
  Long-Term Care Insurance Giant Genworth Takes Another Charge, Plans To Go Private
  Forbes
  Genworth Financial, the largest seller of long-term care (LTC) insurance policies, has agreed to be acquired by a privately-held Chinese investment firm. At the same time, it announced it will reserve an additional $400 million to $450 million (pre-tax ...and more »
  
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• New York Man Previously Acquitted of Murder Found Guilty of Insurance Fraud

  27-10-2016 16:02
  
  A Hudson Valley dentist acquitted earlier this year of fatally poisoning his ex-lover’s husband has been convicted of fraud and theft. The Daily Freeman of Kingston reports an Ulster County Court jury on Tuesday found 49-year-old Gilberto Nunez, of Poughkeepsie, New …
  
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• Ironshore Int’l Offers Documents, Services in Mandarin for M&A Unit

  27-10-2016 15:56
  
  Ironshore International said it is now offering insurance documents and services in Mandarin for its Mergers & Acquisitions unit, a move that will help it better market to Chinese companies. The service involves a package of Mandarin-language marketing materials and …
  
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• Hiscox Leads New $1B Fine Art Consortium, in Collaboration with Ascot

  27-10-2016 15:39
  
  Hiscox announced it has formed a new US$1 billion fine art consortium, the result of a collaboration with Ascot Underwriting. The $1 billion capacity consortium has been constructed specifically to streamline the process of placing large fine art risks within …
  
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• Pennsylvania Insurance Commissioner Warns Flood Victims About Repair Scams

  27-10-2016 15:35
  
  Pennsylvania Insurance Commissioner Teresa Miller is urging homeowners whose properties suffered damage in the recent flooding that hit several North Central Pennsylvania counties to be cautious of scams when seeking repairs. She has also offered advice for homeowners to properly file claims with their …
  
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• Coastal Wetlands Found to Reduce Hurricane Property Damage by 10%-30%

  27-10-2016 15:28
  
  Coastal wetlands provide important natural protection during hurricanes. How much? Natural habitats reduced property damage by about $625 million in the Northeast during Hurricane Sandy in 2012, a new study supported by Lloyd’s of London and conducted by scientists has …
  
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• Hub International Hires Aikins to New Jersey Office

  27-10-2016 15:15
  
  Hub International Limited (Hub), a Chicago, Ill., headquartered insurance brokerage and consultancy firm, has appointed Mary Aikins, RN, BA, CCM, as vice president and practice leader of health and performance for the organization’s East region. In this role, Aikins will …
  
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• JLT Re Taps Willis Re’s Punch as MD, APAC, for Regional Clients & Retrocession

  27-10-2016 14:53
  
  JLT Re, the London-based reinsurance broker and consultant, has appointed Stephen Punch as managing director, Asia Pacific, for Regional Clients and Retrocession. Punch is expected to join JLT Re in early 2017 after he has completed his contractual obligations with …
  
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• What to Expect in Commercial Insurance Pricing in 2017

  27-10-2016 14:35
  
  The marketplace for commercial insurance will continue to favor insurance buyers in 2017, particularly those with strategic risk management and risk transfer strategies, according to Willis Towers Watson’s 2017 Marketplace Realities report. The report points to strong marketplace capacity as …
  
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• Autumn Clock Change Raises Evening Accident Risk by 30%: UK Telematics Study

  27-10-2016 14:27
  
  The risk of U.K. drivers having an accident in the month following the clocks changing at the end of October* increases by 10 percent, according to Insure The Box, the telematics car insurance provider. And if they are driving between …
  
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• XL Group to Realign P/C Operations with Senior Leadership Team Appointed

  27-10-2016 13:40
  
  Bermuda-based XL Group Ltd. announced senior role changes in connection with a planned realignment of its property & casualty operating model, all of which will be effective Jan. 1, 2017. Paul Brand, currently chief underwriting officer, Insurance, will lead a …
  
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• Update: XL Group to Realign P/C Operations with Senior Leadership Team Named

  27-10-2016 13:40
  
  Bermuda-based XL Group Ltd./XL Catlin announced senior role changes in connection with a planned realignment of its property/casualty operating model. All of the new appointments are effective as of Jan. 1, 2017. The new P/C organizational structure will consist of …
  
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• Social selling isn’t a 24/7 job

  27-10-2016 13:00
  
  If we are always looking at a screen, we are undermining our most effective sales technique: personal connections and relationships that drive sales.
  
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• Homeowners Insurance Claims, Loss Costs Declining, LexisNexis Report Finds

  27-10-2016 12:30
  
  A study of home insurance trends reveals good news for home insurance carriers: homeowner claims continue to decrease and loss costs are flat or on the decline. The 2016 LexisNexis Home Trends Report notes that while the U.S. has already …
  
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• 7 ways to mitigate risk for businesses before the next natural disaster

  27-10-2016 12:00
  
  Now that the recent hurricanes and wildfires have subsided, here are seven things you can do to make sure your business is ready for the next disaster.
  
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• UK’s Regulator Reviews Mission as It Redefines Itself Under New CEO

  27-10-2016 10:56
  
  The U.K. Financial Conduct Authority opened a review of its regulatory “mission” as the agency looks to redefine itself under a new chief executive officer following a turbulent year. The regulator said Wednesday that it’s looking to create a “guiding …
  
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• Berkshire Hathaway GUARD Adds Miscellaneous Professional Liability Coverage

  27-10-2016 07:11
  
  Berkshire Hathaway GUARD Insurance Companies has launched a miscellaneous professional liability policy in New Jersey with expansion into a half dozen more states by the end of 2016. The company’s new product is a separate line targeting more than 50 …
  
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• FEMA Extends Filing Deadline for Florida NFIP Claims from Hurricane Hermine

  27-10-2016 06:47
  
  The Federal Emergency Management Agency (FEMA) has extended the deadline for National Flood Insurance Program (NFIP) policyholders to file claims from Hurricane Hermine. “After productive discussions between Insurance Commissioner David Altmaier and representatives of the NFIP on ways to assist Floridians …
  
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• Clean-Up Deal Reached for Florida Sinkhole that Contaminated Water

  27-10-2016 06:27
  
  Florida officials have reached a deal with the company responsible for a large sinkhole that resulted in millions of gallons of contaminated water pouring into a drinking water aquifer. The Florida Department of Environmental Protection issued the consent order to …
  
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• Upcoming Mississippi Tornado Season Looks to be ‘Unpredictable’

  27-10-2016 05:46
  
  Mississippians are preparing for the tornado season to begin in November. The Clarion-Ledger reports forecasters are looking at shifts in weather conditions – such as El Nino and La Nina – as indicators that this year’s outlook could be quite …
  
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• Painting Stolen Off the Wall from Muhammad Ali Center in Kentucky

  27-10-2016 05:13
  
  Artwork showing Muhammad Ali in a classic pose, in white trunks and red boxing gloves, was stolen from an exhibit while it was open to the public at the Muhammad Ali Center. Surveillance cameras recorded the brazen theft, and a …
  
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• Leavitt Group Buys Majority in Murray and Murray in California

  27-10-2016 00:32
  
  The Leavitt Group has purchased a majority stake in Murray and Murray Insurance Agency in Central California. Dan Lillard, a key team member of Murray and Murray, will become a co-owner and managing principal of the agency. Michael Murray, Patrick …
  
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