Insurance news

• California Fines Online Benefits Firm Zenefits $7M Over Unlicensed Employees

  28-11-2016 23:48
  
  California Insurance Commissioner Dave Jones today levied $7 million in penalties against online benefits broker Zenefits for multiple license violations. Zenefits was charged with allowing unlicensed employees to transact insurance and circumventing insurance agent education requirements. This is the largest …
  
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• California Department of Insurance Action Against Zenefits Results $7M Penalty

  28-11-2016 23:48
  
  California Insurance Commissioner Dave Jones today announced the enforcement action taken against Zenefits for multiple license violations has resulted in a $7 million penalty. Zenefits was charged with allowing unlicensed employees to transact insurance and circumventing insurance agent education requirements. …
  
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• Zenefits Hit With $7 Million Fine by California Insurance Regulator - Wall Street Journal

  28-11-2016 23:27 via wsj.com
  
  The Mercury News
  Zenefits Hit With $7 Million Fine by California Insurance Regulator
  Wall Street Journal
  Health-benefits broker Zenefits was fined $7 million by the California Department of Insurance on Monday, one of the largest penalties the agency has assessed for licensing violations in its history. The settlement is the largest thus far for Zenefits ...
  Zenefits fined $7 million for California insurance violationsThe Mercury News
  Zenefits Settles with California Insurance RegulatorsFortune
  
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• Creating a Federally Sponsored Cyber Insurance Program - Council on Foreign Relations

  28-11-2016 19:59 via cfr.org
  Creating a Federally Sponsored Cyber Insurance Program
  Council on Foreign Relations
  The U.S. federal government has long debated using insurance as a tool to create incentives for better cybersecurity in the private sector, and has tried to prod the insurance industry to offer cyber coverage. Meanwhile, financial firms and industry ...and more »
  
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• South Dakota Limiting Release of Vehicle Crash Reports

  28-11-2016 18:43
  
  South Dakota law enforcement authorities are no longer releasing vehicle crash information because doing so could violate a constitutional amendment approved by voters this month. The state’s Department of Public Safety suspended access to an online crash report database after …
  
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• Proposed Iowa Public Employees Contract Gives State more Control over Insurance

  28-11-2016 18:21
  
  A contract Iowa has proposed for its largest public employees union includes no wage increase and removes health insurance provisions, a sign that changes could be on the horizon for collective bargaining laws when the new Republican-majority Legislature returns next …
  
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• Car Insurance Pricing Is Broken, But Your Phone Could Fix It - WIRED

  28-11-2016 18:19 via wired.com
  
  WIRED
  Car Insurance Pricing Is Broken, But Your Phone Could Fix It
  WIRED
  As the commercials make clear, shopping for car insurance can be frustrating. That's in part because auto insurance pricing is largely a black box for consumers. While the price a consumer pays for insurance is based on a risk estimate derived from ...
  
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• Earthquakes with Magnitudes of 3.4 and 4.3 Recorded in North-Central Oklahoma

  28-11-2016 18:18
  
  The U.S. Geological Survey on Sunday recorded a magnitude 3.4 earthquake in north-central Oklahoma just two days after a 4.3 magnitude temblor struck in the same area. The 3.4 magnitude quake was recorded at 8:34 a.m. on Nov. 27 seven …
  
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• Survivor of Deadly Texas Train Wreck Sues BNSF Railway

  28-11-2016 18:08
  
  The lone survivor of a head-on crash between two freight trains in the Texas Panhandle has filed a lawsuit seeking more than $1 million in damages. The Amarillo Globe-News reported that Derek Schilling filed the lawsuit last week in Tarrant …
  
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• Nebraska County to Challenge Insurers Over Coverage for $28M Lawsuit

  28-11-2016 18:06
  
  Nebraska’s Gage County will challenge its insurers’ decision not to cover it for a $28.1 million judgment awarded to six people who were wrongfully convicted of murder. KWBE reports that the county board approved hiring a law firm to fight …
  
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• Gov. Edwards Rehires Louisiana Insurance Program CEO Ousted by Jindal

  28-11-2016 18:05
  
  The office that oversees Louisiana’s health insurance program for state workers and retirees is getting a new leader — and he’s a familiar face for the agency. Tommy Teague will again work as chief executive officer of the Office of …
  
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• InsurTech draws insurers as Europe’s startup deals heat up

  28-11-2016 17:35
  
  Recent deals highlight the rush by Europe’s time-honored insurers to get in on the technology that’s changing financial services on Wall Street.
  
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• Lawmaker in Montana Files Wrongful Discharge Lawsuit against His Company

  28-11-2016 17:25
  
  A Republican state lawmaker has filed a wrongful discharge lawsuit alleging his refusal to support certain bills during the 2015 Legislature got him fired from a sales job he’d held for more than 15 years. Rep. Randy Pinocci’s Nov. 14 …
  
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• Study: Injection Wells, Agriculture Harming Bays in Maui

  28-11-2016 17:23
  
  A team of University of Hawaii scientists has completed a study of nearshore ecosystems across Maui that shows the impact of discharged treated wastewater. The findings were published in the scientific journal PLOS ONE earlier this month. The scientists analyzed …
  
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• Rains Create Landslide Threat in Western Washington

  28-11-2016 17:19
  
  The National Weather Service in Seattle is warning that recent heavy rainfall has led to an increased threat of landslides throughout the western part of the state. The alert notes that the recent rainfall has put extra pressure on the …
  
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• Uber Looking to Begin Service in Wyoming for First Time

  28-11-2016 17:17
  
  The ridesharing service Uber is looking to begin service in Wyoming, one of the few states where it’s not yet doing business. Wyoming law will need to be changed before ridesharing services may operate in the state. State lawmakers say …
  
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• Fear of Flooding on the Rise Along Virginia’s Coast

  28-11-2016 16:12
  
  When floodwaters poured into Holly Furlong’s Virginia Beach home in October, she ripped out electrical cords and rushed her four children upstairs. They spent the next two days without power, building blanket forts while anxiously waiting for sewage-tainted waters to …
  
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• Students Building Tiny Houses for West Virginia Flood Survivors

  28-11-2016 15:59
  
  Vocational students from across West Virginia are building tiny houses to help some people struggling to recover from flooding this year. Students from 12 vocational schools are designing and building the houses, which will be presented to Gov. Earl Ray …
  
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• Kentucky Judge Allows Bevin to Appoint Workers’ Comp Judges

  28-11-2016 15:51
  
  A Kentucky judge has cleared the way for Republican Gov. Matt Bevin to appoint six administrative law judges to help ease a backlog of workers’ compensation cases. The ruling by Franklin County Circuit Judge Phillip Shepherd is a victory for …
  
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• Complaints About Erratic Driving Before Tennessee Bus Wreck

  28-11-2016 15:45
  
  Students and administrators raised concerns about a Tennessee school bus driver’s behavior behind the wheel in the weeks before a crash that killed six children. Police have charged driver Johnthony Walker with vehicular homicide after the Chattanooga crash. Federal authorities …
  
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• Unions, Gig-Economy Firms Prepare for New York Benefits Battle

  28-11-2016 15:32
  
  Faced with a barrage of lawsuits from workers demanding benefits and recognition as employees, some companies in the fast-growing ‘gig economy’ are looking to settle the issues through legislation. Joseph Morelle, the number two Democrat in the New York State …
  
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• Crews Establish Control Line Around Virginia Wildfire

  28-11-2016 15:13
  
  Authorities say crews have established a control line around a wildfire that’s burned thousands of acres in central Virginia’s George Washington and Thomas Jefferson national forests. The U.S. Forest Service said in a news release Saturday that while the fire …
  
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• Union Strike at New York Chemical Plant Enters 4th Week

  28-11-2016 14:45
  
  A strike by hundreds of union workers at an upstate New York chemical plant is now into its fourth week. Some 700 members of an IUE-CWA local walked off the job earlier this month at Momentive Performance Materials in the …
  
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• Verisk Acquires Analytics Firm MarketStance

  28-11-2016 14:17
  
  Analytics firm Verisk Analytics Inc. has acquired MarketStance, a provider of market intelligence data and analytics to the property/casualty insurance market. Following the completion of the transaction, MarketStance will become part of ISO, a division of Verisk, and Dr. Fritz …
  
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• The verdict's in: Speed and error contributed to plaintiff's injuries

  28-11-2016 14:00
  
  The jury apportioned 50 percent of the liability to the plaintiff for his injuries.
  
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• Wells Fargo Facing Suit by Employees Over Retirement Funds Management

  28-11-2016 13:50
  
  Wells Fargo & Co. faces a new U.S. lawsuit claiming that it funneled more than $3 billion of employee retirement savings into expensive, underperforming proprietary mutual funds to enrich itself. The proposed class-action lawsuit, filed Nov. 22 in federal court …
  
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• Smartphone Makers Reject Obama Call for Restrictions to Curb Distracted Driving

  28-11-2016 13:30
  
  U.S. highway safety officials called on smartphone makers to add features that would keep motorists from using functions linked to a surge in deaths due to distracted driving, a proposal that drew immediate opposition from the electronics industry. The proposed …
  
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• When Having Insurance Still Leaves You Dangerously Uncovered - New York Times

  28-11-2016 12:53 via nytimes.com
  New York Times
  When Having Insurance Still Leaves You Dangerously Uncovered
  New York Times
  One of the few things that Donald J. Trump and Hillary Clinton seemed to agree on was that high out-of-pocket spending on health care was a problem. One of Mrs. Clinton's most popular health care proposals during her campaign was to reduce out-of ...
  Worries About Health Insurance Cross Political BoundariesKaiser Health News
  How Affordable Care Act Marketplace Insurance Plans Will Change in 2017U.S. News
  
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• UK Financial Firms Look to Dublin as EU Base After Brexit Vote: Irish Minister

  28-11-2016 12:46
  
  Some financial firms in Britain looking for a base in the European Union after Brexit are expected to start applying for licenses in Dublin by early next year, Ireland’s financial services minister said on Friday. The Irish capital, along with …
  
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• Emerging Markets to Drive Insurance Sector Growth in 2017: Swiss Re

  28-11-2016 12:29
  
  The global economy is expected to grow moderately over the next two years, supporting continued growth in insurance premium volumes, according to a Swiss Re report. Growth in global non-life premiums is forecast to fall slightly from 2.4 percent in …
  
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• Why agent connectivity is a tipping point for commercial lines insurers

  28-11-2016 12:00
  
  Technology for connectivity is central to fostering incumbent loyalty and enticing the attention of a new generation of distributors.
  
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• New PT treatment model improves outcomes, lowers costs

  28-11-2016 12:00
  
  An onsite treatment option is changing workers’ comp claims.
  
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• 8 ways to stop procrastinating and get more done

  28-11-2016 12:00
  
  Organizing tasks on paper and tackling the ones that cause you the most stress first are two strategies for overcoming chronic procrastination.
  
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• XL Catlin Appoints Branch as Chief Executive of Insurtech Team, Accelerate

  28-11-2016 11:42
  
  XL Catlin announced the appointment of Vincent Branch as Chief Executive for Accelerate, its new expert team focused on innovation and insurtech. Accelerate is led by XL Catlin’s former chief underwriting officer for Insurance, Paul Brand. Branch joins XL Catlin …
  
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• Allianz to Launch Subsidiary in China to Target Overseas Investments: Sources

  28-11-2016 11:23
  
  German insurer Allianz is setting up a wholly-owned unit in Shanghai to launch hedge funds that invest abroad, three sources said, as some foreign managers prepare for China to ease curbs on overseas investments aimed at stemming capital outflows. The …
  
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• Insurtech Startups Attract Growing List of Traditional Insurer Partners

  28-11-2016 11:02
  
  Listening to Andrew Rear talk about insurers, you wouldn’t think he works for one that’s been around for 136 years. The 46-year-old head of Munich Re’s Digital Partners unit has said the industry is “one of the last bastions of …
  
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• Hargreaves to Retire from Tokio Marine Kiln

  28-11-2016 10:34
  
  Tokio Marine Kiln (TMK) announced the retirement of Robin Hargreaves who will leave TMK at the end of the year after spending his entire career with the company. Hargreaves joined in 1980 and upon completing his graduate training began writing …
  
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• Too Often, Small Businesses Learn Insurance Lessons After Disaster Strikes

  28-11-2016 07:00
  
  A fire at the gun shop next door never reached Kathy Laurienti’s sausage and specialty food store, but the water and smoke damage was enough to shut her business down. Because Laurienti didn’t have enough insurance, it’s still closed — …
  
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• QBE, SUA Agency to Offer Professional Liability Coverage to Mortgage Specialists

  28-11-2016 06:22
  
  QBE North America has formed a program underwriting agreement with Stateside Underwriting Agency (SUA) to offer its clients who are title agents, abstractors and escrow agents professional liability insurance for primary and excess coverage. Mortgage company professional liability and mortgage …
  
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• Claims adjusting in the 21st Century: What's inside a millennial home?

  28-11-2016 06:01
  
  Millennials value the customer experience, knowledge and service.
  
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• Judge Halts Florida’s 14.5% Workers’ Compensation Hike Set for Dec. 1

  28-11-2016 02:04
  
  A Florida circuit judge has blocked a 14.5 percent workers’ compensation rate increase due to go into effect Dec. 1 after finding that the insurers’ rating organization and state officials did not comply with the state’s Sunshine Laws and open …
  
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