Insurance news

• U.S. says Samsung Note 7 battery fires reveal flawed safeguards

  24-01-2017 22:55
  
  Defects that caused Samsung Note 7 phones to burst into flames last year revealed that the industry’s voluntary standards for the design and manufacture of rechargeable batteries aren’t adequate to protect safety.
  
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• Trump Administration Suspends Cut in FHA Mortgage Insurance Rate - snopes.com

  24-01-2017 20:08 via snopes.com
  
  snopes.com
  Trump Administration Suspends Cut in FHA Mortgage Insurance Rate
  snopes.com
  Immediately after Donald Trump was sworn in as president, the Department of Housing and Urban Development suspended a pending rate cut to FHA mortgage loan insurance premiums. David Emery. Jan 24, 2017. Share. 207. 208. Shutterstock. One of the ...
  Trump blocked FHA mortgage-insurance cut -- here's what that meansCBS News
  Home buyers get bad news on mortgage insurance reliefIndianapolis Star
  On Day One,
  
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• Aon Develops Captive Program for Cyber Risk Transfer

  24-01-2017 18:59
  
  Aon Global Risk Consulting, the risk consulting business of Aon plc, has launched its Cyber Captive Program, which guides companies through a series of steps to help identify, assess and quantify their cyber exposures – ultimately making more informed decisions …
  
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• Tennessee Insurance Dept. Wraps Up 2016 With Disciplinary Actions Against 5 Agents

  24-01-2017 18:43
  
  The Tennessee Department of Commerce & Insurance (TDCI) has taken disciplinary actions including fines totaling more than $77,000, license revocation and other punishments against five Tennessee insurance licensees for numerous violations of state law. The punishments came after investigations by …
  
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• 39 Possible Tornadoes Devastate Southeast, Leave 19 Dead

  24-01-2017 18:32
  
  Chuck Stafford was watching the Atlanta Falcons rout the Green Bay Packers for the NFC title when bad weather suddenly began to pound his mobile home in southern Georgia. Stafford, 74, had just gotten to head to the bathroom during …
  
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• On Individual Health Insurance Reform, Actuarial Details Matter - Forbes

  24-01-2017 18:20 via forbes.com
  
  Forbes
  On Individual Health Insurance Reform, Actuarial Details Matter
  Forbes
  Mr. Wrobel is Chief Financial Officer and Chief Actuary of Geisinger Health Plan, and a Fellow of the Society of Actuaries. Whether you love or hate it, the Affordable Care Act (ACA) has been plagued with challenges from its outset, some of which may ...
  More Chronically Ill Patients Have Health Insurance After ACA, Study FindsABC News
  Why You Should Still Sign Up for ACA Health InsuranceConsumerReports.org
  With execu
  
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• Texas Construction Site Fire Leaves 1 Worker Dead, 1 Injured

  24-01-2017 17:50
  
  Officials say one electrical worker has died and another was critically hurt in a fire at a downtown Amarillo, Texas, construction site. An official with University Medical Center in Lubbock says Roger Copelin suffered severe burns and died Sunday. Spokesman …
  
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• Travelers profit climbs 8.9 percent as private equity bets thrive

  24-01-2017 17:36
  
  Fourth-quarter investment income improved and the company recorded a gain tied to the settlement of a risk-sharing dispute.
  
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• California Insurance Commissioner Prevails in Insurance Industry’s Legal Challenge

  24-01-2017 17:29
  
  In a 7-0 decision, the California Supreme Court has affirmed the authority of Insurance Commissioner Dave Jones in a legal challenge brought by the insurance industry, the California Department of Insurance announced. Rejecting the insurance industry’s arguments, the Supreme Court …
  
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• Intense Storms, Flooding Wallop California

  24-01-2017 17:18
  
  The tail end of a punishing winter storm system lashed California with thunderstorms and severe winds Monday after breaking rainfall records, washing out roads and whipping up enormous waves. At least four people died and several others were rescued from …
  
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• Indiana Objects to Peabody Bankruptcy Plan, Cites Mine Cleanup Costs

  24-01-2017 17:10
  
  Indiana and several environmental groups are objecting to a plan by Peabody Energy Corp to exit its $8 billion Chapter 11 bankruptcy, citing concerns over how the company will cover about $1 billion in future mine cleanup costs. Most creditors …
  
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• Judge: Sorrento, Louisiana, and Ex-Police Chief Must Pay Legal Fees

  24-01-2017 17:05
  
  A federal judge has awarded nearly $40,000 in fees to attorneys for a woman who accused a former Louisiana police chief of sexually assaulting her in his office while she was drunk and he was on duty. The woman’s lawyers …
  
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• Save Money This Year With an Insurance Makeover - U.S. News & World Report (blog)

  24-01-2017 16:53 via money.usnews.com
  U.S. News & World Report (blog)
  Save Money This Year With an Insurance Makeover
  U.S. News & World Report (blog)
  Doing an annual review of your budget and retirement savings is a smart way to make sure that your finances are on the right track. But an often overlooked aspect of saving money and building financial security is scrutinizing your insurance. In fact ...and more »
  
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• Texas Stamping Office: Upward Trend Continues for Surplus Lines

  24-01-2017 16:51
  
  Overall, 2016 ended on a positive note for the U.S. excess and surplus lines insurance industry, according to the Surplus Lines Stamping Office of Texas (SLTX). Nationally, nearly $26 billion in surplus lines insurance premium was recorded for end-of-year 2016, …
  
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• Report Finds New York Construction Fatalities, Regulatory Violations Rising

  24-01-2017 16:08
  
  The New York Committee for Occupational Safety and Health (NYCOSH) found in its latest construction fatality report that construction worker deaths are rising in New York, and many construction employers across the state are consistently violating regulations and code requirements. …
  
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• Alabama Saw 25% Increase in Fatal Wrecks in 2016

  24-01-2017 15:30
  
  Researchers say the number of fatal traffic crashes in Alabama increased by nearly 25 percent last year. Citing a recent University of Alabama study, The Tuscaloosa News reports that 1,058 people died in crashes statewide in 2016. That number is …
  
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• Dennis Joins EPIC Insurance in Southern California

  24-01-2017 15:29
  
  EPIC Insurance Brokers and Consultants has hired Duane Dennis as a senior consultant and principal in the firm’s Southern California Employee Benefits Consulting Practice. Dennis will be responsible for business development, strategy, program design, implementation and management of employee benefits …
  
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• Kansas Wildlife Investigation Uncovers Insurance Fraud

  24-01-2017 15:24
  
  An investigation into possible wildlife violations uncovered unrelated insurance fraud evidence that led to a recent criminal conviction in Kansas. Lawrence E. Payne, Overland Park, was sentenced Dec. 6, 2016, to serve 30 days in jail and 24 months’ probation …
  
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• U.S. Reports Auto Insurance Unaffordable for Millions; Insurers Call Report ‘Ill-Conceived and Unnecessary’

  24-01-2017 15:22
  
  Nearly 19 million Americans live in areas where auto insurance is unaffordable including a large number in the New York region, according to a first-of-its kind study by the U.S. Treasury Department. The study, conducted by the department’s Federal Insurance …
  
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• Former Executive Admits Stealing $850K from Pennsylvania Health Care Giant

  24-01-2017 14:56
  
  A former executive with Pittsburgh-based health care giant UPMC has admitted he stole nearly $850,000 from the company by arranging to hire his wife and a friend as ghost workers. Federal prosecutors say 48-year-old Ronald Locy faces up to a …
  
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• Man Charged with Setting New York Apartment Building on Fire

  24-01-2017 14:51
  
  Authorities say they’ve charged a 63-year-old man with setting a fire in an apartment building in Buffalo, leaving 18 people homeless. Fire officials say the fire was set around 5 a.m. Saturday in a multi-unit building on Bailey Avenue. All …
  
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• Private Equity Returns Boost Travelers Q4 Profit

  24-01-2017 14:16
  
  Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit jumped 8.9 percent as investment income improved and the company recorded a gain tied to the settlement of a risk-sharing dispute. Net income rose to …
  
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• Beazley Taps AIG’s Tigleanu as Data Breach & Information Security U/W

  24-01-2017 13:23
  
  Beazley, a specialist in data breach response insurance, has appointed Monica Tigleanu as an underwriter focused on data breach and information security coverage for US companies out of its London headquarters. Beazley has helped clients handle over 5,000 breaches since …
  
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• 1/1 Renewals Saw Some Price Stabilization, Record Capital, Demand Uptick: JLT Re

  24-01-2017 12:42
  
  The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re in a newly published report. Twelve months …
  
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• Four of the world’s leading insurance law firms form alliance

  24-01-2017 12:30
  
  Multinational insurance companies have a new global source to help manage their legal affairs, thanks to an alliance of four law firms in Germany, Australia, the U.K. and the United States.
  
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• Maryland Fire Officials Shut Down Rehearsal Space for Safety Violations

  24-01-2017 12:26
  
  Fire officials have shuttered a long-running rehearsal space for musicians in West Baltimore, Md. The Baltimore Sun reports that Studio 14 was shut down Thursday due to safety violations and operating without a use-and-occupancy permit. Fire department spokesman Roman Clark …
  
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• Why expert witnesses can be critical in coverage litigation

  24-01-2017 12:00
  
  File notes, memos, emails and correspondence take on special importance in litigation.
  
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• 7 steps for generating the best leads

  24-01-2017 12:00
  
  Follow this map to create consistent, predictable new leads.
  
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• Parliament’s Approval Required to Trigger Brexit Talks: UK Supreme Court

  24-01-2017 11:08
  
  The UK Supreme Court ruled on Tuesday that Prime Minister Theresa May must get parliament’s approval before she begins Britain’s formal exit from the European Union. The UK’s highest judicial body dismissed the government’s argument that May could simply use …
  
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• StarStone Partners with Dubai-Based MGA; Swiss Re’s Hussey Appointed

  24-01-2017 10:57
  
  StarStone, the global specialty insurer and subsidiary of Enstar Group Ltd., announced a joint venture partnership with Malakite Underwriting Partners Ltd., a managing general agent in Dubai, subject to regulatory approval. Led by managing partner Giles Hussey, Malakite will target …
  
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• TMK Launches Unmanned Aerial Systems Cover via Its Online Platform

  24-01-2017 10:38
  
  Tokio Marine Kiln (TMK) has added unmanned aerial systems (UAS) insurance to its One TMK digital exchange, which will allow brokers to quote and bind UAS policies online in real time from wherever they are in the world. The product, which …
  
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• Neon’s M&A Consortium Raises Capacity to £75 Million

  24-01-2017 10:20
  
  Neon has expanded its M&A consortium, with capacity increasing from £50 million ($62.2 million) to £75 million ($93.3 million), effective on Jan. 1, 2017. The consortium is led by Neon and is 100 percent backed by Lloyd’s markets, the London-based …
  
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• Group Offers Insurance for Freelance Journalists Assigned Anywhere, Including in War Zones

  24-01-2017 10:00
  
  The International Federation of Journalists (IFJ)) has joined forces with insurance company Isle of Man Assurance Limited to offer insurance overage for all media workers without restriction in any region of the world – including war zones. According to IJF, …
  
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• Idaho Insurance Director Tapped for NAIC Committee Leadership Position

  24-01-2017 07:53
  
  Idaho Department of Insurance Director Dean Cameron has been named as vice chair of the National Association of Insurance Commissioners’ Life Insurance and Annuities Committee for 2017. Director Cameron was elected secretary of the NAIC Western Zone last fall. He was …
  
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• Minnesota May Tap Rainy-Day Fund to Help Cover Insurance Hikes

  24-01-2017 07:47
  
  Minnesota would use state money to offset the health premium hikes for more than 100,000 residents under a measure legislators were considering on Jan. 19, a novel approach as states across the country grapple with the rising costs and uncertain …
  
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• Arizona Governor Offers Proposals for Health Insurance Overhaul

  24-01-2017 07:43
  
  Arizona Gov. Doug Ducey is urging Congress not to repeal former President Barack Obama’s health care overhaul without a well-developed replacement plan, suggesting in a letter that it may take three years for a new system to be fully implemented. …
  
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• Why Are Large-Scale Tornado Outbreaks Increasing in U.S.?

  24-01-2017 07:00
  
  The frequency of large-scale tornado outbreaks is increasing in the United States, particularly when it comes to the most extreme events, according to research recently published in Science. The study by researchers including Joel E. Cohen, a visiting scholar at …
  
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• Appeals Court: Charter School Firm Can’t Sue North Carolina School Official for Libel

  24-01-2017 06:53
  
  A company running a string of taxpayer-funded charter schools and its founder can’t sue a former North Carolina local school superintendent for libel after he criticized plans for a competing school, the state Court of Appeals ruled Jan. 17 Former …
  
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• U.S. Picks North Carolina Turnpike Authority to Assist With Testing Driverless Cars

  24-01-2017 06:41
  
  The U.S. Department of Transportation recently designated the North Carolina Turnpike Authority to help with testing driverless cars. A statement from the N.C. Department of Transportation on Friday said the authority was selected from a competitive group of more than …
  
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• 10 trends expected to shape the casualty insurance market in 2017

  24-01-2017 06:01
  
  A more aggressive insurance market, technology and changing workforce dynamics are expected to affect the casualty insurance market in 2017.
  
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• NAIC Announces 35 Consumer Representatives for 2017

  24-01-2017 04:28
  
  The National Association of Insurance Commissioners (NAIC) recently named 35 consumer liaison representatives for 2017. The 22 funded and 13 unfunded consumer representatives began their terms Jan. 1. Eighteen of the funded consumer representatives participated in the program in 2017. …
  
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• EINSURANCE’s Top 10 Articles of All-Time

  24-01-2017 01:00
  
  We have been posting articles for over 20 years to ensure you, our customers, are informed when buying insurance. Our commitment has been, and will always be, to keep you up-to-date on coverage options, policy terms, and all you need to know about...
  
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• 6 Must-Haves For Your Small Business Website

  24-01-2017 01:00
  
  Think of your business website as your living room, where you greet visitors and make them feel welcome. It’s where first impressions are made. Treat visitors right, and they’ll come back again and again.Every small business needs...
  
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