Insurance news

• JLT Specialty Names Cohen Senior Vice President in California

  03-01-2017 19:27
  
  JLT Specialty USA has named Paul Cohen as senior vice president. Cohen will work out of Orange County, Calif. with JLT’s global fine art and jewelry and practice with a focus on clients in the U.S. Cohen has more than …
  
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• K2 Acquires Waterplus, Fireplus And JPA Expirations From Alteris in California

  03-01-2017 19:21
  
  K2 Insurance Services LLC has acquired the WaterPlus, FirePlus and JPA in-force expirations from San Francisco, Calif.-based Alteris Insurance Services Inc. Terms of the deal were not disclosed. Alteris President Paul Fuller and 20 of his colleagues will join K2 …
  
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• RIMS names new president for 2017

  03-01-2017 19:02
  
  The risk management association also has new officers and new board members.
  
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• South Carolina Gets Additional $65M in Matthew Aid

  03-01-2017 18:59
  
  South Carolina will get an additional $65 million in federal aid to help the state rebuild after Hurricane Matthew. The State newspaper of Columbia reports the Department of Housing and Urban Development grant is part of a $2.3 billion nationwide …
  
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• Return-to-work and local nonprofits: A winning combination

  03-01-2017 18:45
  
  Employers that don't have temporary light-duty positions for injured employees who are ready to return to work with limitations are partnering with nonprofits to find temporary transitional employment opportunities.
  
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• 9 best practices for return-to-work programs

  03-01-2017 18:40
  
  Employers can better protect employees and the bottom line when they follow these nine best practices for returning injured workers to their jobs.
  
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• Texas Clinic Owner Pleads Guilty to $1M Insurance Fraud

  03-01-2017 18:19
  
  A Gainesville, Texas, clinic owner has pleaded guilty to insurance fraud and was ordered to repay $1 million after an investigation by the Texas Department of Insurance found that he billed for chiropractic services without having a licensed chiropractor on staff. …
  
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• Texas Surplus Lines Office Changes Acronym to SLTX

  03-01-2017 18:12
  
  The Surplus Lines Stamping Office of Texas has changed its acronym to SLTX. The stamping office formerly branded itself with the SLSOT acronym. The office unveiled its new logo at the Texas Surplus Lines Association (TSLA) annual meeting in November. …
  
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• Jury Awards $250K in Illinois Costco Sexual Harassment Case

  03-01-2017 18:08
  
  A federal jury has awarded $250,000 in compensatory damages to a former employee of Costco Wholesale Inc. who was harassed and stalked by a Costco customer, the U.S. Equal Employment Opportunity Commission (EEOC) announced. The federal agency alleged that Costco, …
  
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• Cranny Appointed VP in CNA’s Minneapolis Branch

  03-01-2017 18:07
  
  CNA has appointed Joe Cranny as vice president in the company’s Minneapolis branch, effective Jan. 17, 2017. Cranny reports to Steve Wachtel, senior vice president and northern zone officer. He joins CNA with more than 30 years of insurance industry …
  
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• Louisiana Workers’ Comp Insurance Rates to Decline Again

  03-01-2017 18:06
  
  The Louisiana Department of Insurance announced a rate filing from the National Council on Compensation Insurance (NCCI) for a statewide decrease of 9.8 percent in workers’ compensation rates has been approved. Insurance Commissioner Jim Donelon said rates for workers’ comp …
  
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• Kansas Universities Mulling Increase in Earthquake Insurance Coverage

  03-01-2017 18:03
  
  Regents universities in Kansas are reviewing earthquake insurance policies after several quakes were reported in the state this year. The Lawrence Journal-World reports that the universities’ chief financial officers decided to review the policies out of “due diligence.” University of …
  
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• Confie Acquires Auto Insurance America in Nevada and New Mexico

  03-01-2017 17:21
  
  Confie has acquired Auto Insurance America from Western National Mutual Insurance Co. Auto Insurance America is a provider of non-standard auto insurance serving Nevada and New Mexico. The company has five locations in Las Vegas, one in Reno, and four …
  
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• PotashCorp’s Seaman Takes Helm as 2017 RIMS President

  03-01-2017 17:20
  
  The risk management society RIMS announced that Nowell R. Seaman will lead the group as president for the 2017 term, effective January 1. Seaman is the director of Global Risk Management for Potash Corporation of Saskatchewan Inc. He has been …
  
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• Tesla Owner in California Sues Tesla over Sudden Acceleration

  03-01-2017 17:14
  
  Tesla Motors Inc. was sued by a Model X owner in California who said his electric SUV suddenly accelerated while being parked, causing it to crash through the garage into the owner’s living room, injuring the driver and a passenger. …
  
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• Brown & Brown’s Hull Acquires MGA Insurance House

  03-01-2017 14:58
  
  Hull & Co., a wholesale insurance subsidiary of giant Brown & Brown, has acquired the commercial managing general agency operations of Insurance House. Insurance House is an MGA and wholesale insurance broker offering commercial and personal lines insurance products to …
  
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• Fire Destroys Connecticut Building That Houses 7 Businesses

  03-01-2017 14:56
  
  An office building in Norwich that houses seven businesses has been destroyed by a fire. The Norwich Bulletin reports that fire officials say the fire started around 3:30 a.m. Saturday on West Main Street. The East Great Plain Fire Department …
  
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• Massachusetts Apartment Building Blaze Leaves 2 Dead, Several Hurt

  03-01-2017 14:51
  
  Authorities say two people killed and several people were hurt after a large apartment building caught fire in Holyoke. Officials say the blaze broke out on Sunday morning with flames visible on the third, fourth and fifth floors. Fire Capt. …
  
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• The Hartford Signs $1.5 Billion Reinsurance Deal Covering Asbestos Liability

  03-01-2017 14:42
  
  The Hartford has signed a reinsurance agreement  effective Dec. 31, 2016 with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., for a $1.5 billion aggregate excess of loss reinsurance agreement covering certain of The Hartford’s asbestos and environmental liability …
  
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• The Andrew Agency Acquires Wallace & Wallace in Maryland

  03-01-2017 14:38
  
  The Andrew Agency, a Richmond, Va., headquartered insurance broker, has acquired Wallace & Wallace, a Cabin John, Md., based provider of commercial and personal lines property and casualty insurance for high net worth clients. The acquisition is effective January 1, …
  
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• New York Issues First-in-Nation Regulation on Commercial Crime Insurance

  03-01-2017 14:14
  
  New York State’s Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses employing people with criminal convictions. The regulation, called Insurance Regulation 209, serves …
  
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• Wells Fargo Settles Brokers’ Claims of Racial Bias

  03-01-2017 13:52
  
  Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues. The bank will pay $35 million to more than 500 financial advisers …
  
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• Fully leveraging data analytics in insurance

  03-01-2017 12:00
  
  Properly incorporating data analytics identifies customers' coverage options and helps carriers determine the likelihood that a customer will leave.
  
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• California taxi company reaches settlement for failure to carry workers’ compensation insurance

  03-01-2017 12:00
  
  One taxi company in California learned the hard way what it costs when you fail to carry workers’ comp insurance and misclassify drivers.
  
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• Bad business networking

  03-01-2017 12:00
  
  Selling and networking are two different sports, played in two different stadiums, at two different points in time.
  
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• 3 ways insurers can maximize their digital transformation

  03-01-2017 12:00
  
  A successful transition anticipates customer needs while enhancing productivity.
  
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• Marsh Completes Acquisition of Bluefin Insurance from AXA

  03-01-2017 11:42
  
  Marsh, the wholly owned subsidiary of Marsh & McLennan Cos., said it has completed the previously announced acquisition of Bluefin Insurance Group Ltd., a subsidiary of AXA UK plc, from AXA Group. Founded in 2008, Bluefin has approximately 1,500 colleagues …
  
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• Markel International Taps XL Catlin’s Godfrey as Head of Cargo

  03-01-2017 11:14
  
  Markel International, the London-based specialist insurer, has appointed Ryan Godfrey as senior underwriter and head of the cargo team within its marine, energy and property division. He joins senior underwriter Richard Burnett, under marine managing director Chris Fenn. Godfrey has …
  
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• Reinsurers Can Expect Another Difficult Year, Seeking Price Stabilization: Willis Re

  03-01-2017 10:48
  
  Despite a 50 percent increase in insured losses from natural catastrophes during 2016, the global reinsurance industry achieved profitable results for the third quarter and remains on track to close out another profitable full year, according to a report published …
  
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• U.S. Refineries’ Accident Risk on Rise Due to Labor Shortage

  03-01-2017 07:00
  
  After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 – but facing a severe labor shortage that could delay work, drive up costs and raise accident risks. Fuel producers such as …
  
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• Newest Big Thing in Drones Is Technology to Block Them

  03-01-2017 07:00
  
  A boom in consumer drone sales has spawned a counter-industry of start-ups aiming to stop drones flying where they shouldn’t by disabling them or knocking them out of the sky. Dozens of start-up firms are developing techniques – from deploying …
  
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• Strong Storm Causes Property Damage, Power Outages in Pensacola, Florida

  03-01-2017 06:29
  
  Authorities say about 30 homes show impacts from a storm with strong winds that swept through Pensacola, Fla., early Sunday. Escambia County Public Information Officer Joy Tsubooka told the Pensacola News-Journal that no injuries were reported. The county said Lipscomb …
  
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• Causey Sworn In As North Carolina Insurance Commissioner

  03-01-2017 06:16
  
  North Carolina’s new insurance commissioner was sworn in just as soon as 2017 began. Republican Mike Causey of Guilford County held his swear-in ceremony just after midnight at a fire station at the Guil-Rand Fire Depnoartment in Archdale. The insurance …
  
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• 6 Injured When Logging Truck Crashes Into South Carolina Auto Repair Shop

  03-01-2017 06:05
  
  South Carolina investigators are sorting out why a logging truck plowed into a Greer auto repair shop, sending six people to the hospital and smashing 11 other vehicles. The Greer Police Department says it happened Friday, and part of Highway …
  
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• 5 top insurance tech trends for 2017

  03-01-2017 06:01
  
  Know what to expect from these trends so disruption isn't quite so 'disrupting.'
  
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