Insurance news

• Study: Cumulative Trauma Claims in California Comp Affected by Attorneys

  19-12-2016 23:39
  
  A new study on California’s workers’ compensation system finds a “strong association” between attorney involvement and the high cost of cumulative trauma claims. The California Workers’ Compensation Institute study looks at CT claims and identifies characteristics that differentiate CT claims …
  
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• Singapore's Skepticism Of Health Insurance - Forbes

  19-12-2016 19:52 via forbes.com
  
  Forbes
  Singapore's Skepticism Of Health Insurance
  Forbes
  Dr. Davis is an emergency medicine physician at Vanderbilt University Medical Center in Nashville, Tennessee. (Image courtesy of the author). Imagine checking into the emergency department for a broken arm knowing ahead of time how much it will cost.
  
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• Agents must prepare for threat of online commercial biz insurance sales

  19-12-2016 19:30
  
  If carriers don't support the independent agency channel, InsureTech start-ups will grab a piece of the small commercial market.
  
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• Texas Issues Mandatory Data Call to Property/Casualty Insurers

  19-12-2016 18:41
  
  The Texas Department of Insurance has issued a mandatory annual data call to all insurance companies writing private passenger nonfleet automobile, homeowners multiple peril, workers’ compensation, commercial fire and allied lines, commercial multiple peril, general liability, boiler and machinery, commercial …
  
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• State Farm wins stay on issuing refunds in California

  19-12-2016 18:21
  
  Judge denies insurer's request for a stay on reducing rates.
  
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• Parents Blame Hospital in Death of Kansas Girl with Viral Meningitis

  19-12-2016 18:20
  
  The parents of a 13-year-old Kansas girl who died of viral meningitis are suing a Lincoln hospital, alleging that doctors there were negligent when treating her in 2014. Terrisa and Scott Waters filed a wrongful death lawsuit in district court …
  
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• Corpus Christi Chemical Leak Reported Week Before Public Warned

  19-12-2016 18:18
  
  A chemical leak from an asphalt plant that led Corpus Christi officials to warn its 300,000 residents not to drink the water last week was apparently reported a week earlier, according to an email from a state environmental official. The …
  
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• Ohio Insurer Disclosure Bill Passed by Legislature

  19-12-2016 18:15
  
  The recent passage of consumer protection legislation provides the Ohio Department of Insurance with better, more common sense tools when it comes to evaluating the financial health of Ohio’s insurance industry, according to Lt. Governor Mary Taylor. Taylor also serves of …
  
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• Needing More Work, Minot’s Flooded Home Buyout Policy on Hold

  19-12-2016 18:10
  
  A proposed change to Minot, N.D.’s home buyout policy following the devastating 2011 Souris River flood is on hold for more refinement. The City Council is considering providing extra compensation to homeowners who have houses at an appraised value below …
  
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• Court Rules Florida Workers’ Comp Rate Hike to Remain, For Now

  19-12-2016 17:58
  
  Florida’s workers’ compensation rate increase of 14.5 percent will remain in effect while a Florida appeals court reviews a legal challenge to the state’s recent ratemaking process. The First District Court of Appeals granted an extension to the stay issued …
  
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• Weekend Freeze Causes Hundreds of Wrecks in North Carolina

  19-12-2016 17:41
  
  Light freezing rain caused hundreds of wrecks in central North Carolina along icy roads, leading to two fatal wrecks in Charlotte. Police and emergency workers reported more than 100 crashes overnight Saturday in both Raleigh and Charlotte as the drizzle …
  
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• Confie Acquires Oasis Insurance in Arizona

  19-12-2016 17:22
  
  Confie has acquired Mesa, Ariz.-based Oasis Insurance. Terms of the deal weren’t disclosed. Oasis Insurance is a provider of non-standard auto insurance. It operates from 21 offices located in Phoenix, Tucson, Mesa, Gilbert, Chandler, Avondale, Surprise, El Mirage and St. …
  
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• California Attorney General Warns Uber over Self-Driving Cars

  19-12-2016 16:50
  
  California Attorney General Kamala Harris has told Uber Technologies Inc. to pull its self-driving cars from San Francisco’s streets or it will seek a court order forcing it do so, saying the ride-hailing company needs a permit under autonomous vehicle …
  
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• QBE Insurance Group Names Regan CEO, Australia & New Zealand Operations

  19-12-2016 16:46
  
  QBE Insurance Group Ltd. announced the appointment of Pat Regan as CEO, Australian & New Zealand Operations, effective March 1, 2017. Regan has been acting in this role since August 2016 in addition to his responsibilities as group chief financial officer. …
  
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• QBE North America Names Liberty Mutual’s Hill as Chief Financial Officer

  19-12-2016 16:39
  
  QBE North America has appointed Kris L. Hill as chief financial officer. Hill will assume her new role effective January 17, 2017, and also serve as a member of the QBE North America Executive Management Board. She will be based …
  
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• JLT Re Acquires StoneHill Reinsurance Partners

  19-12-2016 16:31
  
  JLT Re said it has acquired StoneHill Reinsurance Partners, a reinsurance intermediary specializing in medical professional liability. StoneHill, which is based in Minneapolis, will form part of JLT Re (North America). Terms of the deal were not disclosed. StoneHill was …
  
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• How Much Do Health Insurance Subsidies Cost Taxpayers?

  19-12-2016 16:14
  
  Taxpayers will fork over nearly $10 billion more next year to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law, according to a study released Thursday. The analysis from the Center for Health and Economy comes …
  
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• Newline Group Establishes Branch Office (and EU Platform) in Germany

  19-12-2016 15:51
  
  London-based Newline Insurance Co. Ltd., a subsidiary of Odyssey Re Holdings, announced it has received regulatory approval to establish a new branch office in Cologne, Germany. Led by Manuel Wirtz, who was appointed general representative in October, this new office …
  
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• Vermont to Study Environmental Risks of Proposed Rail Tunnel

  19-12-2016 15:42
  
  Vermont transportation officials have decided to pursue a more detailed environmental study of a proposed $40 million rail tunnel project in Middlebury, which could delay construction by at least a year. The project calls for replacing two aging bridges in …
  
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• Snow Affects Travel in Southern New England

  19-12-2016 15:32
  
  The season’s first major winter storm has dumped snow throughout southern New England and caused slippery road conditions. Snow fell for hours on Saturday morning. The National Weather Service reports snowfall ranged from just under three feet in southeastern Massachusetts …
  
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• New York Man Sentenced to 60 Years for Killing Fiancee for Insurance

  19-12-2016 15:30
  
  A 48-year-old man convicted of killing his fiancee to collect on her life insurance has been sentenced to 60 years in prison. Federal prosecutors said Thursday that Ronald Epps of Amherst was sentenced in U.S. District Court in Buffalo. A …
  
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• Pennsylvania Insurance Commissioner Advises Preparation for Winter Weather

  19-12-2016 15:25
  
  Pennsylvania Insurance Commissioner Teresa Miller has advised consumers to plan ahead and review their homeowners and auto insurance policies as winter weather conditions like snow, sleet and ice become more frequent. “Winter is coming, and it is important that you …
  
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• U.S. Investigators Blame Autopilot in Facebook’s Big Drone Crash

  19-12-2016 15:07
  
  The wing on Facebook Inc.’s experimental high-altitude drone broke last summer in Arizona after the massive aircraft hit an updraft and its autopilot overcompensated seconds before touchdown on its maiden flight, a U.S. investigation has concluded. The end section of the …
  
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• XL Catlin Invests $4M in Insurtech Microinsurance Startup, Stonestep

  19-12-2016 14:50
  
  XL Catlin’s venture fund, XL Innovate, committed $4 million in first-round financing to Stonestep, a property/casualty insurtech startup looking to streamline how microinsurance is sold in emerging markets. The Series A funding is designed to help Stonestep grow in the …
  
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• Anthem-Cigna Merger Trial Pits Efficiency Claims vs. Loss of Competition Claims

  19-12-2016 14:46
  
  Anthem Inc. and the U.S. Justice Department extended their clash over whether the insurer’s planned takeover of rival Cigna Corp. will raise costs, as government witnesses testified Friday that the deal will harm health-care providers and patients. Frank Gorse, a …
  
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• If you invade someone's privacy with a drone, your insurance might not cover it

  19-12-2016 14:00
  
  As drone technology continues to advance, it will allow people to invade someone's privacy with more ease, so inevitably, more people will do it.
  
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• AXIS Capital’s London Office to Move to ‘The Scalpel,’ New Tower Near Lloyd’s

  19-12-2016 13:34
  
  Bermuda-based AXIS Capital Holdings Ltd. announced its London office will be among the first commercial tenants in “The Scalpel,” a 36-story tower located at 52 Lime Street, adjacent to Lloyd’s of London. AXIS said it has taken 31,500 square feet …
  
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• Aspen Appoints Thornton as Group Chief Operating Officer

  19-12-2016 13:14
  
  Aspen Insurance Holdings Ltd. announced that Richard Thornton has been appointed to the newly created position of group chief operating officer. Thornton will undertake this new role in addition to his responsibilities as group head of strategy, said the company, adding …
  
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• Canada’s Fairfax to Buy Switzerland’s Allied World for $4.9B in Cash, Stock

  19-12-2016 12:45
  
  Fairfax Financial Holdings Ltd., the Canadian investment and insurance company, agreed to buy Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s biggest purchase. Fairfax will pay $54 per share, which is …
  
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• Canada’s Fairfax Agrees to Purchase Switzerland’s Allied World for $4.9B in Cash

  19-12-2016 12:45
  
  Fairfax Financial Holdings Ltd. agreed to buy insurer Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s largest purchase. Fairfax will pay $54 per share, which is 18 percent higher than Allied …
  
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• Battle Over Property Claims and Litigation in Texas Set to Continue in 2017

  19-12-2016 12:45
  
  If a Dec. 1, 2016, hearing is any indication, Texas lawmakers will be encouraged in the coming leg­islative session to take up what the property/casualty insurance industry says is a problematic trend following severe weather-related events in the state: increased …
  
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• M&A to Remain Priority, Brexit Creates Opportunities: Clyde & Co. Predictions

  19-12-2016 12:17
  
  The insurance team at the international law firm Clyde & Co. has published a set of predictions for 2017, ranging from projections about M&A to insurtech to global insurance opportunities. A wrap-up of some of those projections follow and will …
  
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• Brexit Opportunities, More M&A: Clyde & Co.’s 2017 Predictions, Part I

  19-12-2016 12:17
  
  M&A and Brexit will be major factors for the global re/insurance industry over the coming year, according to predictions from the insurance team at the international law firm Clyde & Co. Andrew Holderness, a partner in Clyde & Co.’s London …
  
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• Judge orders State Farm to cut insurance rates, puts refunds on hold - Los Angeles Times

  19-12-2016 12:02 via latimes.com
  
  Los Angeles Times
  Judge orders State Farm to cut insurance rates, puts refunds on hold
  Los Angeles Times
  State Farm customers in California could soon be paying lower premiums for homeowners, condo and renters insurance but will have to wait for the outcome of a lawsuit to know whether they will also get refunds from the company. A judge ruled late Friday ...
  State Farm ordered to cut homeowners insurance rates in CaliforniaSFGateall 7 news articles »
  
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• 15 preventable homeowners' insurance claims and how to avoid them

  19-12-2016 12:00
  
  When people think of homeowners' insurance claims they often associate them with major disasters, but many losses are entirely preventable.
  
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• 10 tips to improve insurance agency SEO

  19-12-2016 12:00
  
  'If you build it, they will come' doesn't work on the internet. Here are 10 SEO tips to drive traffic to your site.
  
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• Brentwood Services Administrators Promotes Saldana in Tennessee

  19-12-2016 06:23
  
  Brentwood Services Administrators Inc. (BSA), headquartered in Brentwood, Tenn., has promoted Nick Saldana to the position of claim representative II in its Tennessee Claims Department, according to Jeff Pettus, president and chief executive officer of BSA. With increased responsibility, Saldana …
  
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• West Virginia AG Sues Pharmacy for Role in Fueling State’s Opioid Crisis

  19-12-2016 06:16
  
  West Virginia’s attorney general has sued a pharmacy in Boone County, alleging it provided too many highly addictive painkillers over more than a decade. Attorney General Patrick Morrisey says Larry’s Drive-In Pharmacy helped fuel the state’s opioid prescription crisis by …
  
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• Restoration Company Suing West Virginia’s New Gov Over Unpaid Flood Cleanup Bills

  19-12-2016 06:09
  
  West Virginia Gov.-elect Jim Justice’s businesses are being sued by a flood restoration company for unpaid bills, after cleanup crews restored parts of the Greenbrier following flooding that hit parts of the state in late June. Attorneys for BMS CAT, …
  
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• Delaware Court Delays Patriot National Dividend, Stock Repurchase Plans

  19-12-2016 01:54
  
  Shares of Patriot National Inc fell 4.6 percent on Friday after it announced late Thursday that it could not pay a special dividend pending a court hearing that would happen late March at the earliest. Patriot, which had originally planned …
  
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