Insurance news

• AIG to pay Buffett's Berkshire about $10 billion in insurance deal - Reuters

  20-01-2017 20:53 via reuters.com
  
  Reuters
  AIG to pay Buffett's Berkshire about $10 billion in insurance deal
  Reuters
  FILE PHOTO - Current information related to insurance company AIG is displayed above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S. on June 17, 2015. REUTERS/Lucas Jackson/File Photo. 1/3. left. right.
  AIG Agrees to Pay Warren Buffett's Berkshire about $10 Billion in Insurance DealFortune
  AIG to pay Berkshire $9.8 billion in insurance transfer dealPropertyCasualty360all
  
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• HUD suspends FHA mortage insurance rate cut an hour after Trump takes office - Los Angeles Times

  20-01-2017 20:47 via latimes.com
  
  Los Angeles Times
  HUD suspends FHA mortage insurance rate cut an hour after Trump takes office
  Los Angeles Times
  An hour after Donald Trump assumed the presidency Friday, his administration indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed mortgages, which are popular with first-time home buyers and those with poor credit.
  Trump already suspends Obama-era FHA mortgage insurance cutMarketWatch
  White House suspends Obama administration's reduction in mortgag
  
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• Trump Suspends Order That Would Have Made Mortgage Insurance Cheaper for 1M Households - NBC New York

  20-01-2017 20:45 via nbcnewyork.com
  
  NBC New York
  Trump Suspends Order That Would Have Made Mortgage Insurance Cheaper for 1M Households
  NBC New York
  File - President-elect Donald Trump speaks during a rally at the Wisconsin State Fair Exposition Center, Tuesday, Dec. 13, 2016, in West Allis, Wis. What to Know. The Trump Administration suspended rules that would have cut FHA mortgage insurance ...and more »
  
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• Obamacare critics want tougher insurance mandate — for drivers - Milwaukee Journal Sentinel

  20-01-2017 20:10 via jsonline.com
  
  Milwaukee Journal Sentinel
  Obamacare critics want tougher insurance mandate — for drivers
  Milwaukee Journal Sentinel
  Madison -- Two Republican lawmakers who want the repeal of Obamacare want to strengthen another government insurance mandate passed in Wisconsin around the same time — this one on drivers. Loading… Post to Facebook. Obamacare critics want ...and more »
  
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• Trump Administration Suspends Insurance Cut for Risky Mortgages - Wall Street Journal

  20-01-2017 20:06 via wsj.com
  
  Trump Administration Suspends Insurance Cut for Risky Mortgages
  Wall Street Journal
  Less than an hour after Donald Trump became U.S. president, the new administration said it was suspending a recent move to lower charges for borrowers on a risky mortgage backed by the government. The step is the first sign of what is likely to be a ...
  
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• Tony Markel, Vice Chairman of the Board, Markel Corporation, Named 2016 Insurance Leader of the Year by St. John's ... - St John's University News

  20-01-2017 19:30 via stjohns.edu
  Tony Markel, Vice Chairman of the Board, Markel Corporation, Named 2016 Insurance Leader of the Year by St. John's ...
  St John's University News
  Proceeds Exceeding $2.3 Million Benefit The Peter J. Tobin College of Business and School of Risk Management. Friday, January 20, 2017. St. John's School of Risk Management, Insurance and Actuarial Science (SRM), part of The Peter J. Tobin College of ...and more »
  
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• North Carolina Rate Bureau Withdraws Dwelling Rate Increase of 19.6% over Data Error

  20-01-2017 18:57
  
  The North Carolina Rate Bureau is alerting all member companies that it has withdrawn its request for a 19.6 percent rate increase on dwelling policies due to a data error on its Dwelling Policy Program revisions announced in April, 2016. …
  
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• T.Rowe results should get boost from $100 million insurance recovery - Reuters

  20-01-2017 18:51 via reuters.com
  
  Reuters
  T.Rowe results should get boost from $100 million insurance recovery
  Reuters
  The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017. REUTERS/Toru Hanai. By Ross Kerber | BOSTON. BOSTON T. Rowe Price Group Inc. recently disclosed an insurance agreement to recover $100 million after it made ...and more »
  
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• Does your company need active shooter insurance? - The American Genius

  20-01-2017 18:45 via theamericangenius.com
  
  The American Genius
  Does your company need active shooter insurance?
  The American Genius
  (BUSINESS FINANCE) Data reveals a disturbing trend regarding increased frequency of mass shootings, and one of the few ways to prepare is by protecting your business with active shooter insurance (which sadly now exists). Tweet · Share · +1 · Share. Pin.
  
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• Lloyd’s of London to open European headquarters outside of Britain

  20-01-2017 18:42
  
  Lloyd’s of London is pushing ahead with plans to open European headquarters outside of Britain after the U.K. prime minister indicated the country won’t remain part of the EU’s single market.
  
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• AIG Signs Major Reinsurance Deal with Berkshire’s National Indemnity

  20-01-2017 18:06
  
  American International Group Inc. announced that it has entered into a reinsurance agreement covering many of the long-term risks on previously-written commercial insurance policies. The agreement, with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., is effective January …
  
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• AIG to pay Berkshire $9.8 billion in insurance transfer deal

  20-01-2017 18:04
  
  The reinsurance deal transfers liabilities on certain U.S. policies from 2015 and earlier. The coverage involves so-called long-tail policies, in which claims can emerge years after a policy is issued.
  
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• People on the move in the P&C insurance industry: Jan. 20, 2017

  20-01-2017 18:00
  
  News from Willis Towers Watson, Berkshire Hathaway Specialty, Beecher Carlson and more.
  
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• Massachusetts Court Reminds Auto Insurers of Importance of Retail Book Value

  20-01-2017 17:41
  
  A Massachusetts appeals court used a recent case to warn auto insurers that it is important to take retail book value into consideration early in the settlement process. While the court ruled in favor of defendant Massachusetts Homeland Insurance Company …
  
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• Poor, minorities, unemployed most likely to lose insurance if Obamacare is repealed - The Verge

  20-01-2017 17:33 via theverge.com
  
  The Verge
  Poor, minorities, unemployed most likely to lose insurance if Obamacare is repealed
  The Verge
  The poor, unemployed, and minorities are most likely to lose health insurance if Congress repeals the Affordable Care Act, researchers say. And because these groups tend to suffer from more health problems in the first place, the Republican plan to ...
  Cheaper, better 'insurance for everybody'? Good luck with thatLos Angeles Times
  What Does "Insurance for Everybody" Mean?Forbes
  Get healt
  
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• PA Insurance Commissioner Presents "Insurance 101" to High School Students, Helping Them Learn About Auto ... - PR Newswire (press release)

  20-01-2017 17:00 via prnewswire.com
  
  PA Insurance Commissioner Presents "Insurance 101" to High School Students, Helping Them Learn About Auto ...
  PR Newswire (press release)
  WILLOW HILL, Pa., Jan. 20, 2017 /PRNewswire-USNewswire/ -- Insurance Commissioner Teresa Miller today presented "Insurance 101", a lesson on auto insurance, to 40 students at Fannett-Metal High School in Franklin County, as part of the Wolf ...and more »
  
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• Recently Installed Smoke Detectors Credited for Saving 4 Lives in Vermont

  20-01-2017 16:14
  
  Vermont State Police are crediting two fire safety officials with saving the lives of three children and an adult who safely escaped a fire in a Brighton home days after the officials required that smoke detectors be installed in the …
  
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• Pennsylvania's NSM Insurance Group Promotes Buler - Insurance Journal

  20-01-2017 16:02 via insurancejournal.com
  
  Pennsylvania's NSM Insurance Group Promotes Buler
  Insurance Journal
  NSM Insurance Group, a Conshohocken, Penn., based property and casualty insurance services firm, has promoted John Buler to director of the NSM Retail department. NSM Retail provides commercial property and casualty insurance and risk management ...
  
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• Pennsylvania’s NSM Insurance Group Promotes Buler

  20-01-2017 15:58
  
  NSM Insurance Group, a Conshohocken, Penn., based property and casualty insurance services firm, has promoted John Buler to director of the NSM Retail department. NSM Retail provides commercial property and casualty insurance and risk management services to middle market businesses …
  
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• Nationwide Using Mobile-App Startup Sure to Sell Renters Insurance - Insurance Journal

  20-01-2017 15:46 via insurancejournal.com
  
  Columbus Business First
  Nationwide Using Mobile-App Startup Sure to Sell Renters Insurance
  Insurance Journal
  On-demand insurance agency Sure has signed Nationwide as a partner in offering renters insurance via its real time mobile app. Using the Sure app (for iPhone and Android), consumers can now obtain a renters insurance quote, purchase a policy, and pay ...
  Nationwide partnering with VC-backed app to offer renters insuranceColumbus Business Firstall 2 news articles »
  
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• Nationwide Using Mobile-App Startup Sure to Sell Renters Insurance

  20-01-2017 15:43
  
  On-demand insurance agency Sure has signed Nationwide as a partner in offering renters insurance via its real time mobile app. Using the Sure app (for iPhone and Android), consumers can now obtain a renters insurance quote, purchase a policy, and …
  
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• Podcast: 5 Wise Insurance Moves to Kick Off the New Year - U.S. News & World Report (blog)

  20-01-2017 15:21 via money.usnews.com
  U.S. News & World Report (blog)
  Podcast: 5 Wise Insurance Moves to Kick Off the New Year
  U.S. News & World Report (blog)
  If your homeowners and auto coverage aren't through the same company, check to see if you'll score a lower premium by coupling your coverage to a single insurer. (iStockPhoto). With a new year comes a fresh start. If you've known that your insurance ...and more »
  
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• Beverly City Hall in Massachusetts Evacuated After Fire Releases Toxic Gas

  20-01-2017 15:17
  
  Beverly City Hall had to be evacuated along with several other buildings after officials say an underground electrical fire released dangerous amounts of carbon monoxide. Firefighters were called to city hall on Tuesday morning after smoke began emanating from a …
  
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• Cost of Most Serious Workplace Injuries Falls: Liberty Mutual

  20-01-2017 15:01
  
  Workplace injuries and accidents that cause employees to miss six or more days of work cost U.S. employers $59.9 billion in 2014, the most recent year for which statistically valid injury data are available, according to the 2017 Liberty Mutual …
  
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• Fairfax in Talks to Sell 25% of India’s ICICI Lombard, Worth Up to $1B

  20-01-2017 13:20
  
  Fairfax Financial Holdings is in early talks to sell 25 percent of India’s largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a …
  
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• International Insurance Society Forms Global Certification Program - Insurance Journal

  20-01-2017 12:56 via insurancejournal.com
  
  International Insurance Society Forms Global Certification Program
  Insurance Journal
  The International Insurance Society (IIS) has announced the formation of the Global Centers of Insurance Excellence (GCIE), a certification program designed to recognize universities and colleges with outstanding risk management and insurance programs ...
  
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• International Insurance Society Forms Global Certification Program

  20-01-2017 12:50
  
  The International Insurance Society (IIS) has announced the formation of the Global Centers of Insurance Excellence (GCIE), a certification program designed to recognize universities and colleges with outstanding risk management and insurance programs and enhance their connections with the insurance …
  
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• Investigation Concludes Tesla Not at Fault in Self-Driving Car Crash

  20-01-2017 12:46
  
  The push to bring self-driving cars to American roads got a significant boost on Thursday when the nation’s chief auto safety regulator essentially cleared  Tesla Motors Inc.’s Autopilot system of fault in a fatal 2016 crash. The U.S. National Highway …
  
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• Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report

  20-01-2017 12:26
  
  The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating actions as a result of …
  
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• The single biggest trait of a sales winner

  20-01-2017 12:15
  
  This is why 'some people make things happen whilst others... watch what happens.'
  
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• Insurance claims and life lessons - PropertyCasualty360

  20-01-2017 12:06 via propertycasualty360.com
  
  PropertyCasualty360
  Insurance claims and life lessons
  PropertyCasualty360
  Claims professionals learn a lot about their insureds' lives, and must be careful not to become cynical about their jobs. (Photo: Shutterstock). After graduating from college and trying to find employment in an academic or social services setting, I ...
  
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• Insurance claims and life lessons

  20-01-2017 12:00
  
  Claims pros can help others and learn something in the process.
  
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• Here are the top 10 states people are moving from

  20-01-2017 12:00
  
  Knowing the states that people are moving out of can help insurance agents and brokers plan for the potential loss of clients who relocate to another state.
  
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• Environmentally sound? Insurer appetite remains strong in environmental market

  20-01-2017 12:00
  
  Even after one major carrier's exit and high-risk, headline-making exposures, insurer appetite remains strong in the environmental market.
  
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• Replace Obamacare with single-payer national health insurance - STAT

  20-01-2017 11:05 via statnews.com
  
  STAT
  Replace Obamacare with single-payer national health insurance
  STAT
  SIPA via AP Health care justice advocates protested outside Trump Tower, advocating for a single-payer system and Medicare for all, on Jan. 13. By Claudia Fegan. January 20, 2017. Twitter · Facebook · LinkedIn · Email · Republish; Print. During the ...and more »
  
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• Washington Puts Landslide-Inspired Topo Maps Online

  20-01-2017 11:00
  
  Washington’s Department of Natural Resources is following through with a key safety recommendation that arose in the aftermath of the Oso mudslide, as it starts to post intricate topographical maps online. The state generates the maps through laser-imaging technology known …
  
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• Utah University Wants Lawsuit Over Frat Party Assault Dismissed

  20-01-2017 11:00
  
  Utah State University and a fraternity are asking a judge to dismiss a lawsuit filed by a former student accusing the school and organization of failing to act on reports of sexual assault and heavy drinking at parties. The student, …
  
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• Idaho Governor Orders Cybersecurity Improvements for the State

  20-01-2017 11:00
  
  Idaho Gov. C.L. “Butch” Otter has signed an executive order aimed at protecting the state’s computer networks from hackers. The order signed this week creates a director of Information Security position, with that person reporting directly to the governor. The …
  
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• Soft Market Is Main Factor Limiting Growth of UK MGAs: Survey

  20-01-2017 10:49
  
  Soft market conditions have replaced regulation and compliance as the main factor affecting growth for UK managing general agents (MGA) in 2017, said a survey of members of the London-based Managing General Agents’ Association (MGAA). The soft market was cited …
  
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• How risk insurance spells resilience for disaster-prone people - Thomson Reuters Foundation

  20-01-2017 09:29 via news.trust.org
  
  Thomson Reuters Foundation
  How risk insurance spells resilience for disaster-prone people
  Thomson Reuters Foundation
  ... * Any views expressed in this article are those of the author and not of Thomson Reuters Foundation. In an uncertain world, insurance can form part of a swifter, more predictable and cost-effective response package. Last year, the lives of 102 ...and more »
  
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• Platt Named COO of Aon Risk Solutions; Moran Is CEO of Aon Inpoint

  20-01-2017 09:27
  
  Aon plc announced the appointment of James Platt as chief operating officer of Aon Risk Solutions and Michael Moran as chief executive officer of Aon Inpoint. Both roles are effective immediately. Platt will be based in London, working closely with …
  
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• Lloyd’s to Open India Branch Ahead of April Renewals

  20-01-2017 08:59
  
  Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the Insurance Regulatory Development Authority of India (IRDAI). This will enable …
  
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• Zurich to Cut 240 UK Jobs as Life, General Insurance Arms Combine - Insurance Journal

  20-01-2017 08:47 via insurancejournal.com
  
  Zurich to Cut 240 UK Jobs as Life, General Insurance Arms Combine
  Insurance Journal
  Zurich Insurance Group AG plans to slash about 240 jobs in the UK as part of broader efforts to bring its Life and General Insurance division under a single leadership team. Zurich disclosed the new UK structure on Jan. 19, following up on a plan ...and more »
  
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• Zurich to Cut 240 UK Jobs as Life, General Insurance Arms Combine

  20-01-2017 08:45
  
  Zurich Insurance Group AG plans to slash about 240 jobs in the UK as part of broader efforts to bring its Life and General Insurance division under a single leadership team. Zurich disclosed the new UK structure on Jan. 19, following …
  
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• Universal Group Taps McCoy to Lead Arizona Business Unit

  20-01-2017 07:52
  
  Universal Group LTD, based in Omaha, Neb., has named Mike McCoy as president of its newly formed business unit in Arizona. Based in Phoenix, McCoy will serve as agency principal in charge of sales and marketing for Universal Group Arizona. …
  
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• Court Upholds Blankenship Conviction Over Fatal West Virginia Mine Blast

  20-01-2017 07:20
  
  A federal appeals court on Thursday rejected former Massey Energy Co Chief Executive Officer Donald Blankenship’s bid to overturn his conviction and one-year prison sentence related to his role in a 2010 West Virginia mine explosion that killed 29 workers. …
  
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• Trial Set to Begin in West Virginia Over Subaru Car Fire Deaths

  20-01-2017 06:53
  
  Nearly eight years after a car wreck claimed the lives of a mother and two teens in Cabell County, a trial is set to begin in a lawsuit against Subaru. The trial is slated for Jan. 23 in Kanawha County, …
  
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• Disagreements remain over health insurance rebates - Post-Bulletin

  20-01-2017 06:30 via postbulletin.com
  
  Post-Bulletin
  Disagreements remain over health insurance rebates
  Post-Bulletin
  State Rep. Steve Drazkowski, a Republican from Mazeppa, was been involved in Wabasha County politics for more than a decade, and Deb Roschen worked on his early campaigns for the Legislature. Nels Pierson.jpg. Nels Pierson, who is running for ...and more »
  
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• How flooding is impacting Houstonians' insurance - KHOU.com

  20-01-2017 06:26 via khou.com
  
  KHOU.com
  How flooding is impacting Houstonians' insurance
  KHOU.com
  KHOU's Adam Bennett looks at how insurance premiums are impacting Houston homeowners dealing with flooding yet again. Adam Bennett , KHOU 7:51 PM. CST January 19, 2017. It's déjà vu for many Houstonians cleaning up, some for the fifth time in two ...
  
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• Game of drones: Liability and insurance coverage issues coming

  20-01-2017 06:01
  
  The explosion of drone use brings with it a plethora of new liability exposures and insurance coverage issues.
  
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