Insurance news

• Can Climate Change Make The Groundhog A Better Forecaster?

  02-02-2017 23:45
  
  Donald Trump has no problem saying what he’s thinking – as he proved during a phoner with Australian Prime Minister Malcolm Turnbull on Saturday. This could make one wonder how he’ll treat Prince Charles – a strong believer in climate …
  
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• Former Obamacare official says Trump depressed insurance sign-ups, as Washington state sets enrollment record - CNBC

  02-02-2017 23:02 via cnbc.com
  
  CNBC
  Former Obamacare official says Trump depressed insurance sign-ups, as Washington state sets enrollment record
  CNBC
  The ex-chief marketing officer of the federal Obamacare exchange estimated Thursday that "sabotage" by the Trump administration led to almost 500,000 fewer people signing up for health insurance plans this year than would have if Barack Obama was still ...
  Trump blocked nearly 500,000 people from getting coverage – The Nursing Shortage – MediumMediumall 53 new
  
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• Uber deal gives drivers $1 each for alleged California labor-code violations

  02-02-2017 21:42
  
  Uber Technologies Inc. reached a settlement offering its drivers an average of about a buck apiece to dispense with alleged labor-code violations that their lawyer claimed might have been worth billions of dollars.
  
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• EPIC in California Names Bergstrom VP in Golf Insurance Services

  02-02-2017 21:26
  
  EPIC Insurance Brokers and Consultants has named Bill Bergstrom to lead the operations and growth initiatives of its golf insurance services program. He will be based in EPIC’s Sacramento, Calif. office and report to Paul Lindsay, senior vice president and …
  
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• Transit Operator in Northern California OKs $1M Settlement

  02-02-2017 21:14
  
  Bay Area Rapid Transit has agreed to pay more than $1 million to settle a lawsuit accusing the agency of violating waste and hazardous-materials laws. The San Francisco Chronicle reported that the transit agency agreed to pay $1.275 million to …
  
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• College Fraternity in Oregon Accused of Hazing Slapped with $8M Suit

  02-02-2017 21:09
  
  An $8 million lawsuit against a fraternity at a northwestern Oregon college says a hazing incident resulted in a 20-year-old man losing his right eye. KOIN-TV reports that the lawsuit alleges Kellen Johansen was coerced into drinking alcohol, running naked …
  
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• Texas Governor Calls for Legislation to Rein in Hailstorm Litigation

  02-02-2017 18:47
  
  In his state of the state address, Texas Gov. Greg Abbott gave a boost to the insurance industry’s effort to get legislation passed that would place limits on post-hailstorm litigation. Calling lawsuits against insurers following hailstorms “the newest form of …
  
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• Cost of Insurance Is Top Factor in UK SMEs’ Buying Decisions: RSA Survey

  02-02-2017 18:22
  
  The cost of insurance premiums was ranked as the top deciding factor when picking a policy by 61 percent of small and medium-sized enterprises (SMEs), according to survey data released by London-based RSA Insurance. This was followed closely by brokers’ …
  
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• Midwest Economy Continued to Improve in January: Survey

  02-02-2017 18:08
  
  Results from a monthly survey of business supply managers released Feb. 1 suggest economic conditions continue to improve in nine Midwest and Plains states, and that confidence in the regional economy is at its highest level in six years. The …
  
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• Regulators: Insurance Education Scholarships Available for Missouri Students

  02-02-2017 18:05
  
  The Missouri Department of Insurance reminds Missouri high school seniors and current college students that the application deadline for Missouri Insurance Education Foundation (MIEF) scholarships is March 31. Four $1,500 scholarships will be awarded to graduating high school seniors who …
  
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• Sweet smell of success: NJ Supreme Court rules in coverage suit by fragrance maker against carriers

  02-02-2017 18:00
  
  One company's dispute with its insurers over the assignment of a post-loss environmental claim for $500 million in coverage made its way to the NJ Supreme Court. See how the court ruled and why.
  
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• Missouri Utility to Appeal Worker’s $10.7M Lawsuit Award

  02-02-2017 18:00
  
  A Missouri-based utility said it will appeal a state judge’s award of more than $10 million to a man who said he developed permanent respiratory issues while working as a mechanic at one of the company’s sites. Circuit Judge William …
  
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• Texas Stamping Office Updates Eligible Surplus Lines Insurers List

  02-02-2017 17:57
  
  The Surplus Lines Stamping Office of Texas (SLTX) has identified the following changes to the Texas the list of eligible surplus lines insurers in the state. Approved eligible insurers effective Jan. 1, 2017 include alien insurers Lloyd’s of London Syndicate …
  
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• Ransomware Attacks Quadrupled in 2016; Expected to Double in 2017: Beazley

  02-02-2017 17:57
  
  Specialty insurer Beazley, which offers data breach response insurance, said its specialized breach response unit saw ransomware attacks quadruple in 2016 and the insurer projects they will double again in 2017. Nearly half of these attacks occurred in the healthcare …
  
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• One Obama-era climate rule Trump might not consider a ‘disaster’

  02-02-2017 17:56
  
  The regulation would impose on states a 'disaster deductible' — a requirement that states shoulder some of the recovery costs up front, before receiving federal dollars.
  
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• Markel to Acquire Surety Company SureTec for $250 Million

  02-02-2017 17:22
  
  Markel Corp. has agreed to acquire surety firm SureTec for approximately $250 million, inclusive of a three-year earn out. SureTec is one of the largest privately owned surety companies in the U.S. SureTec’s largest subsidiary, SureTec Insurance Co., is rated …
  
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• New Jersey Supreme Court Issues Ruling in $500M Contamination Lawsuit

  02-02-2017 17:12
  
  The New Jersey Supreme Court has ruled in favor of Givaudan Fragrances Corporation (Fragrances) in a $500 million insurance coverage lawsuit against Aetna Casualty & Surety Company and additional insurers named as defendants. The move affirms that New Jersey policyholders …
  
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• Solving the aging workforce dilemma

  02-02-2017 17:00
  
  Insurance companies benefit in these five ways when they keep aging workers employed, especially in a less conventional way.
  
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• Obamacare Uncertainty is Scaring Off Health Insurance Companies - NBCNews.com

  02-02-2017 16:57 via nbcnews.com
  
  NBCNews.com
  Obamacare Uncertainty is Scaring Off Health Insurance Companies
  NBCNews.com
  The Affordable Care Act's insurance exchanges have become too risky for major health insurers, and that's creating further doubt about coverage options consumers might have next year. Anthem CEO Joseph Swedish said Wednesday his company is waiting ...and more »
  
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• Navigators Appoints Ingerslev to Global Cyber Liability Leadership Post

  02-02-2017 16:42
  
  Global specialty insurer The Navigators Group Inc. has appointed Jacob Ingerslev to the newly created position of global practice leader for cyber liability. Ingerslev will be responsible for leading Navigators’ cyber liability practice, including product development, line management and advancement …
  
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• Facebook Virtual Reality Unit Faces $500M Jury Verdict for Copyright Infringement

  02-02-2017 16:31
  
  A U.S. jury in Texas on Wednesday ordered Facebook Inc., its virtual reality unit Oculus, and other defendants to pay a combined $500 million to ZeniMax Media Inc., a video game publisher that says Oculus stole its technology. The jury …
  
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• USGS Confirms Another Quake in Western Colorado Towns

  02-02-2017 16:12
  
  A recent 3.3 magnitude earthquake is the largest to hit a western Colorado county in a decade, the U.S. Geological Survey confirmed. The USGS told the Rifle Citizen Telegram that seven people reported the earthquake that shook Garfield County towns …
  
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• 2 California School Districts Will Settle Teacher Sex Case for $5M

  02-02-2017 16:05
  
  Two California school districts will pay most of a roughly $5 million settlement to a girl who was sexually abused by a former high school teacher. Jeremy Monn is serving a seven-year sentence after being convicted in 2015 for having …
  
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• Who Will Foot the Bill for San Francisco’s $750M Millennium Tower?

  02-02-2017 16:01
  
  Nina Agabian, a retired director of research in global health science at the University of California, bought a 29th-floor apartment in San Francisco’s Millennium Tower in 2010. “It was supposed to be a wonderful building,” she said in January, sitting …
  
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• Florida Chamber meeting in Miami to take on state's insurance woes - SaintPetersBlog (blog)

  02-02-2017 15:12 via saintpetersblog.com
  
  SaintPetersBlog (blog)
  Florida Chamber meeting in Miami to take on state's insurance woes
  SaintPetersBlog (blog)
  With the Legislature poised to confront major challenges to Florida's insurance industry and the businesses and consumers who rely on it, the Florida Chamber of Commerce will convene in Miami Thursday to map out possible solutions. On the agenda are ...and more »
  
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• Marsh Reports 2016 and Q4 Results

  02-02-2017 15:07
  
  Global insurance and consulting firm Marsh & McLennan Companies Inc. reported financial results for the fourth quarter and full 2016 year showing underlying revenue growth of 3 percent on a consolidated basis, including 5 percent growth in Risk & Insurance …
  
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• Strong Chubb 2016 Results Reflect Benefits of Merger: Greenberg

  02-02-2017 14:25
  
  Chubb Limited CEO and Chairman Evan G Greenberg said that the company’s 2016 financial results have reflected the benefits of the nearly $30 billion ACE/Chubb merger that created today’s Chubb about one year ago. “Operationally and culturally, our integration efforts …
  
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• Insurance agent commission bill returns, minus high-profile co-sponsor - MyAJC

  02-02-2017 14:20 via myajc.com
  
  MyAJC
  Insurance agent commission bill returns, minus high-profile co-sponsor
  MyAJC
  State Rep. Shaw Blackmon, left, discusses legislation earlier this year with state Rep. Dave Belton, center, and state Rep. Jason Shaw. Blackmon is once again sponsoring a bill that would guarantee payment to health insurance agents. This year the bill ...
  
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• Motivational speaker hopes to decrease insurance agent turnover rate with new book - KRIS Corpus Christi News

  02-02-2017 14:18 via kristv.com
  
  KRIS Corpus Christi News
  Motivational speaker hopes to decrease insurance agent turnover rate with new book
  KRIS Corpus Christi News
  'Taming Turnover' is an Amazon #1BestSeller after being on the market for just one month. CORPUS CHRISTI -. One of the careers with the most common turnover rate is an insurance agent. In fact, some studies show that almost 98% of agents wont make it ...
  
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• Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

  02-02-2017 13:05
  
  Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must manage …
  
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• Data from pacemaker used to arrest man for arson, insurance fraud - ZDNet

  02-02-2017 13:03 via zdnet.com
  
  ZDNet
  Data from pacemaker used to arrest man for arson, insurance fraud
  ZDNet
  screen-shot-2017-02-02-at-10-48- Wikimedia Commons. A man has been charged for arson and fraud after law enforcement used data gleaned from his pacemaker to uncover an alleged plot to cheat his insurance company. Last week, local media WLWT ...
  
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• Amtrak Engineer Sues Railroad Over Deadly Pennsylvania Train Crash

  02-02-2017 12:37
  
  The Amtrak engineer involved in a deadly 2015 crash in Philadelphia, Pennsylvania, has sued the railroad, saying it failed to address reports that people were throwing projectiles at trains. Brandon Bostian, 33, said he was left disoriented or unconscious when …
  
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• Using Life Insurance as Support For Retirement - Minyanville.com

  02-02-2017 12:14 via minyanville.com
  
  Using Life Insurance as Support For Retirement
  Minyanville.com
  This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com. When entering ...and more »
  
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• Eastern Insurance Group Acquires Chase and Lunt in Massachusetts

  02-02-2017 12:14
  
  Eastern Insurance Group LLC, a wholly owned, Natick, Mass., headquartered subsidiary of Eastern Bank, has acquired the assets of the Chase and Lunt Insurance Agency LLC, a full-service insurance agency located in Newburyport, Mass. The deal, which combines the two …
  
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• Man Convicted of Burning Down His Rhode Island Restaurant to Collect Insurance

  02-02-2017 12:07
  
  A Massachusetts man has been convicted of burning down a restaurant he owned in Rhode Island. Federal prosecutors say 51-year-old Daniel Saad was attempting to collect on a nearly $1 million insurance policy when he set fire to Snow’s Clam …
  
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• Insurers Won’t Pay Boat Owner’s Claim in Rhode Island Lost-at-Sea Case

  02-02-2017 12:02
  
  Insurers say they will not cover the loss of a boat owned by a Vermont man that sank off Rhode Island with his mother aboard. Nathan Carman and his mother, 54-year-old Linda Carman of Middletown, Connecticut, left on a fishing …
  
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• CNA Hardy Appoints AIG’s Beelders as Head of Multinational

  02-02-2017 11:57
  
  CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, announced the appointment of Jason Beelders as assistant vice president, head of Multinational. Reporting to Patrick Gage, chief underwriting officer, Beelders will be responsible for the strategic …
  
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• Uber Suspends Service in Taiwan After Authorities Raise Fines

  02-02-2017 11:29
  
  Uber Technologies Inc said it will suspend its service in Taiwan from Feb. 10, firing the latest salvo in the ride-hailing service company’s long-running dispute with the island’s authorities. Uber’s move comes after Taiwan recently raised fines against unlicensed ride-sharing …
  
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• How to plan ahead for a safe, claims-free Super Bowl

  02-02-2017 11:15
  
  It’s a good idea for insurance agents to review coverage with their clients before a Super Bowl house party.
  
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• Protecting clients who participate in the sharing economy

  02-02-2017 11:00
  
  Having proper insurance protection is important, but helping your clients think through a holistic risk mitigation plan before they enter the sharing economy is the best way to protect against accidents, injuries or property damage.
  
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• Coastal Wetlands and Flood Damage Reduction: Can Insurance Save Wetlands? - Triple Pundit (registration) (blog)

  02-02-2017 11:00 via triplepundit.com
  
  Triple Pundit (registration) (blog)
  Coastal Wetlands and Flood Damage Reduction: Can Insurance Save Wetlands?
  Triple Pundit (registration) (blog)
  An estimated 840 million people around the world live with the risk of coastal flooding. With our changing climate, the danger posed by hurricanes, floods and storms is increasing. These events have a huge economic impact, too. In 2016 alone, insurers ...and more »
  
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• As Super Bowl Approaches a Former NBA Player Reflects on Cumulative Injury

  02-02-2017 11:00
  
  Most of us who sit down with our beverages and snacks to watch one of the biggest events in pro sports on Sunday won’t have things like workers’ compensation and cumulative injury on our minds. Just Brady vs. Ryan, Quinn …
  
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• Uganda: Agro-Insurance Subsidy Comes a Season Too Late - AllAfrica.com

  02-02-2017 10:42 via allafrica.com
  Uganda: Agro-Insurance Subsidy Comes a Season Too Late
  AllAfrica.com
  An agro-insurance subsidy of Ush5 billion ($1.9 million) announced by the Uganda government in June last year will finally take off, but a season later than had been initially promised. There are fears that the subsidy will not be effected before the ...
  
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• Eastern Insurance buys Chase and Lunt - The Daily News of Newburyport

  02-02-2017 09:09 via newburyportnews.com
  
  Eastern Insurance buys Chase and Lunt
  The Daily News of Newburyport
  NEWBURYPORT — The Eastern Insurance Group, a subsidiary of Eastern Bank, announced that it has acquired the assets of Chase and Lunt Insurance Agency, according to a news release issued by Eastern Insurance this week. “The deal combines two ...
  
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• West Virginia Town Sues Drug Distributors Over Costs of Opioid Abuse

  02-02-2017 06:24
  
  A West Virginia town seeking to recoup the costs of dealing with opioid abuse is suing out-of-state drug distributors, and another community plans to file a similar suit. Media outlets report the Mingo County community of Kermit filed a lawsuit …
  
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• Worst of Deep South Drought Washed Away by January Rains

  02-02-2017 06:16
  
  Widespread rain is gradually relieving the Deep South’s ongoing drought, leaving only a handful of counties in Alabama and Georgia with extremely dry conditions, a new report shows. Rain drenched a large part of an area that has been abnormally …
  
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• Brentwood Services Administrators Inc. Promotes Whitten to Claims Supervisor

  02-02-2017 06:12
  
  Brentwood Services Administrators (BSA), headquartered in Brentwood, Tenn., has promoted Lisa Whitten to claims supervisor in the Brentwood office, according to Jeff Pettus, president and chief executive officer of BSA. Whitten is responsible for providing guidance and supervision for claims …
  
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• More Than 50 Guns Stolen from North Carolina Gun Show

  02-02-2017 06:05
  
  Police in Greensboro, N.C., say more than 50 guns were stolen from a gun show over the weekend. Police said in a release Monday security guards reported the theft Sunday before the Greensboro Gun and Knife Show opened. Police spokeswoman …
  
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• 6 winter weather hazards and the states with the most claims

  02-02-2017 06:05
  
  Here are the biggest winter weather hazards and the states with the most claims related to them.
  
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