Insurance news

• Dana Insurance Co. Expanding Indian Ties - Financial Tribune

  06-02-2017 23:52 via financialtribune.com
  
  Dana Insurance Co. Expanding Indian Ties
  Financial Tribune
  Dana Insurance Company, a major Iranian insurance firm, said it will expand ties with major Indian insurance firms, especially ones that continued to work with Iran during sanctions. Managing director of the firm, Reza Jafari, recently held meetings ...
  
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• 1st Iranian Life Insurance Company Makes Debut - Financial Tribune

  06-02-2017 23:52 via financialtribune.com
  
  1st Iranian Life Insurance Company Makes Debut
  Financial Tribune
  Middle East Life Insurance Company, affiliated with the privately-owned Middle East Bank, officially started operating on Monday as the first specialized Iranian insurance firm. Speaking at the opening ceremony, Abdolnasser Hemmati, the head of Central ...and more »
  
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• State cracks down on high-priced insurance - Minneapolis Star Tribune

  06-02-2017 23:51 via startribune.com
  
  State cracks down on high-priced insurance
  Minneapolis Star Tribune
  The Minnesota Department of Commerce has forced the nation's largest provider of an obscure but lucrative form of insurance to dramatically overhaul the way it does business in the state. A recent settlement agreement with New York-based Assurant Inc.
  
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• Educational Conference in California to Address ‘State of the Industry’

  06-02-2017 22:16
  
  What the final two years of California Insurance Commissioner Dave Jones will entail is among the topics to be discussed during a conference in Southern California in March. The WIAA Education and Research Foundation will present a conference titled “Challenges, …
  
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• Realtors ask Trump to reinstate FHA mortgage insurance premium ... - HousingWire

  06-02-2017 21:02 via housingwire.com
  
  HousingWire
  Realtors ask Trump to reinstate FHA mortgage insurance premium ...
  HousingWire
  The National Association of Realtors believes that the Trump administration's recent decision to suspend a reduction in the Federal Housing Administration's ...and more »
  
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• Realtors ask Trump to reinstate FHA mortgage insurance premium cut - HousingWire

  06-02-2017 21:02 via housingwire.com
  
  HousingWire
  Realtors ask Trump to reinstate FHA mortgage insurance premium cut
  HousingWire
  The National Association of Realtors believes that the Trump administration's recent decision to suspend a reduction in the Federal Housing Administration's annual mortgage premiums will keep as many as 40,000 potential homebuyers from becoming actual ...and more »
  
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• Snow Damage Found to Be Origin of Idaho Fire

  06-02-2017 20:55
  
  Investigators from the Idaho State Fire Marshal’s Office looking into a fire last week at a local business in Council believe the blaze could have been caused by heavy snowfall. Many parts of Idaho have received record-breaking snowfall since mid-December. …
  
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• Ask an Expert: Everything You Need to Know About Life Insurance - Lifehacker

  06-02-2017 20:45 via lifehacker.com
  
  Lifehacker
  Ask an Expert: Everything You Need to Know About Life Insurance
  Lifehacker
  You might be tempted to forego life insurance, as it feels like an unnecessary added cost towards an unlikely circumstance. No one actually expects to die, right?and more »
  
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• Suit: Providence chiropractor office engaged in insurance fraud scheme - WPRI 12 Eyewitness News

  06-02-2017 18:59 via wpri.com
  
  WPRI 12 Eyewitness News
  Suit: Providence chiropractor office engaged in insurance fraud scheme
  WPRI 12 Eyewitness News
  PROVIDENCE, R.I. (AP) — Allstate Insurance Company is suing Arianna Iannuccilli, a Providence chiropractic office, for alleging its owner discredited medical records to boost insurance claims and paid kickbacks to personal injury lawyers who referred ...
  
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• Assurant to Offer Liability Coverage for Vacation Rental Owners

  06-02-2017 18:59
  
  Assurant has partnered with Vacasa, a U.S. vacation rental management company, to provide liability coverage and property insurance for Vacasa’s homeowners. Assurant’s short-term accommodations protection program will be available to the more than 4,600 U.S. homeowners in the Vacasa network, …
  
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• Amica Mutual Downgraded by A.M. Best Citing Increasing Catastrophe Losses, Auto Claims

  06-02-2017 18:53
  
  Amica Mutual Insurance Co. no longer has a perfect financial strength rating from A.M. Best. More catastrophe losses and worsening automobile insurance claims severity are both to blame. Specifically, an A+ (Superior) financial strength rating (FSR), down from A++(Superior), now …
  
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• Maserati recalling around 40,000 vehicles on risks of fires

  06-02-2017 18:35
  
  Adjusting the front seats could potentially lead to electrical shorts and fires in Quattroporte, Ghibli, and Levante vehiclesfrom model years 2014 through 2017.
  
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• Minnesota Moves To Shore Up Health Insurance Market - NPR

  06-02-2017 18:27 via npr.org
  
  NPR
  Minnesota Moves To Shore Up Health Insurance Market
  NPR
  What's going to happen to the federal health law? The quick, accurate answer is that no one knows. But amid the uncertainty about the future of the Affordable Care Act, states still have to manage their insurance markets. Most states have muddled ...and more »
  
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• Deadline Extended for Louisiana NFIP Policyholders Affected by August Flood

  06-02-2017 18:09
  
  Insurance Commissioner Jim Donelon says the Federal Emergency Management Agency (FEMA) has granted an additional 90-day extension of an important deadline for National Flood Insurance Program (NFIP) policyholders affected by the August flood. The program normally requires policyholders to file …
  
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• Moussaid Named Senior VP in JLT Speciality’s Dallas Office

  06-02-2017 18:07
  
  JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (JLT), has appointed Robert Moussaid as senior vice president focused on the power sector. He is based in Dallas. Moussaid comes to JLT with more than 23 years’ …
  
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• EPA to Oklahoma Officials: Do More to Curb Earthquakes

  06-02-2017 17:56
  
  The Environmental Protection Agency told Oklahoma regulators last November to do more to protect the state from a surge in earthquake activity that scientists have linked to the underground disposal of oil and gas wastewater. An EPA administrator sent a …
  
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• Springfield, Missouri Man Accused of Arson Spree

  06-02-2017 17:53
  
  A Springfield, Mo., man who has been accused of a spree of fires in cars and trash containers near a low-income housing complex told police he can’t stop himself from setting the blazes, at times just to watch the flames, …
  
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• Insurance Department Staff to Meet with Students at Kansas Universities

  06-02-2017 17:52
  
  A Kansas Insurance Department staff member will be visiting with business majors at Kansas universities during February to promote insurance courses as part of a statewide education initiative to attract more employees to the insurance industry. The initiative, sponsored by …
  
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• Halvorsen Joins HUB International Midwest as Technology Practice Leader

  06-02-2017 17:51
  
  Robert Halvorsen has Technology Practice Leaders team at HUB International Midwest, a division of HUB International Limited. As a technology practice leader (TPL), Halvorsen will be responsible for helping to provide customized technology support and guidance to HUB International Midwest …
  
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• CNA CEO Robusto ‘Back in the Game,’ Sees Room for Improvement in 2017

  06-02-2017 17:48
  
  CNA reported 2016 fourth quarter and full year 2016 results, with its new CEO indicating that while there is a strong foundation at the insurer, the company has work to do in improving underwriting discipline and results and that is …
  
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• In claims and football, the basics matter

  06-02-2017 17:10
  
  Great training and preparation are the difference between winning and losing
  
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• Oregon Jury Sides With City in Police Dog Attack

  06-02-2017 17:08
  
  An Oregon jury has ruled against a man who sued the city of Salem after he was bitten by a police dog. The Statesman Journal reported John Hillebrand sought $1 million for physical pain, emotional harm and legal fees. Hillebrand …
  
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• Group in Oregon City Is Suing Its Carrier over a Fire Payout

  06-02-2017 17:06
  
  The Eugene Civic Alliance in Oregon has sued its insurance carrier for more than $325,000 after the burning of Civic Stadium. The Register-Guard reported that the nonprofit group wants to build a new complex on the former site of the …
  
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• Blockchain Insurance Consortium B3i Adds 3 New Members ... - CoinDesk

  06-02-2017 16:06 via coindesk.com
  
  Reuters
  Blockchain Insurance Consortium B3i Adds 3 New Members ...
  CoinDesk
  A blockchain technology consortium spearheaded by a global group of insurers has added several new members. The B3i project – short for the Blockchain ...
  Blockchain Insurance Industry Initiative B3i Grows to 15 MembersInsurance Journal
  Blockchain insurance consortium grows to 15 membersReutersall 9 news articles »
  
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• Fire Destroys Most of New Jersey Luxury Apartment Complex Near Completion

  06-02-2017 15:31
  
  Authorities say a fast-moving fire has destroyed most of a luxury apartment complex that was about to open to residents. But it’s not yet clear what caused the fire at the Avalon apartments in Maplewood, N.J. The construction site blaze …
  
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• Philadelphia Insurance Promotes Decker to SVP of Underwriting

  06-02-2017 15:21
  
  Philadelphia Insurance Companies has promoted James Decker from vice president to senior vice president of Underwriting. Decker will continue to oversee the Sports, Recreation, and Public Service Underwriting divisions in his new role. Decker has worked in the insurance industry …
  
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• Doctor Charged in Rhode Island with Pushing Painkiller, Receiving Kickbacks

  06-02-2017 14:47
  
  A doctor has been indicted on charges accusing him of getting kickbacks on prescriptions of a highly addictive painkiller written for patients who didn’t need the drug. Jerrold Rosenberg, a pain specialist and clinical assistant professor at Brown University, pleaded …
  
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• Commercial Health Plans’ Spending on Drugs Slowed in 2016: Express Scripts

  06-02-2017 14:41
  
  Express Scripts Holding Co., the largest pharmacy benefit manager in the United States, said prescription drug spending for its members slowed to less than 4 percent in 2016, at a time when scrutiny of drug price hikes has intensified. Prescription …
  
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• Beazley Buys Canadian Specialty MGA, Creechurch Underwriters

  06-02-2017 14:40
  
  Beazley is expanding its presence in Canada with the acquisition of the specialist managing general agent, Creechurch Underwriters. The financial terms of the transaction were not disclosed. Since its founding in 1996, Creechurch has built a strong reputation for providing …
  
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• New Electronic System Could Increase Costs for Vermont Car Inspections

  06-02-2017 14:34
  
  The costs of motor vehicle safety inspections could go up in Vermont as inspection stations start using a new electronic system. The safety requirements for vehicles will remain the same, but it’s thought some mechanics will raise their fees to …
  
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• Blockchain Insurance Industry Initiative B3i Grows to 15 Members

  06-02-2017 14:11
  
  The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …
  
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• Marsh Launches Cyber Risk & Data Breach Cover for Non-US Clients

  06-02-2017 13:00
  
  Marsh has launched Marsh CyberShield, an exclusive cyber risk and data breach insurance policy for mid- to large-sized organizations. Available globally to Marsh clients outside of the US, Marsh CyberShield can provide up to £500 million ($624 million) in cover …
  
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• Embrace the shift! Transforming the insurance industry from the outside-in

  06-02-2017 12:00
  
  Cultivating a deep understanding of customers’ needs and desires should be the first step any insurer takes as it begins or accelerates its own digital transformation.
  
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• Apples and oranges: 6 things that make advisory firms unique

  06-02-2017 12:00
  
  Insurance agencies tend to be unique, with the needs and goals of their owners and employees playing a large role in their success.
  
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• Get the lead out: Drinking water contamination claims and liability

  06-02-2017 11:30
  
  What liability do schools and day cares have for lead-contaminated water?
  
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• I've put my family on a health insurance experiment. It's been a challenge - STAT

  06-02-2017 11:14 via statnews.com
  
  STAT
  I've put my family on a health insurance experiment. It's been a challenge
  STAT
  nrollment in high-deductible health insurance plans has exploded over the past five years. I'm learning the hard way how these plans do — and do not — work. About one-third of American workers 1 covered by health insurance are now in high-deductible ...and more »
  
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• VW Sued by 1st Major German Firm over Diesel Scandal

  06-02-2017 11:00
  
  Fish distributor Deutsche See is suing Volkswagen for misrepresenting a fleet of vehicles it leased as environmentally friendly, becoming the first major German customer to sue Europe’s biggest carmaker over its diesel-test cheating. Volkswagen already faces numerous lawsuits from individual owners, …
  
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• UK Firms Lack Board-Level Digital Skills to Deal with Cyber Attacks: Deloitte

  06-02-2017 10:33
  
  Only 5 percent of large U.K. companies say their boards include directors with expertise in information technology or cyber security, even though the vast majority identify hacking and other digital threats as serious risks, a report showed. In the event …
  
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• EU Should Support ‘Reasonable’ Brexit Deal for London: German Minister

  06-02-2017 10:09
  
  The City of London offers financial services that benefit Europe as a whole and the European Union should recognize that in a “reasonable” Brexit deal with Britain, German Finance Minister Wolfgang Schaeuble said in a newspaper interview. “We don’t want …
  
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• Florida Approves 15K Citizens Policies for April Take-Outs

  06-02-2017 07:16
  
  The Florida Office of Insurance Regulation (OIR) has approved the following company to participate in the April Citizens Property Insurance Corp. take-out period. April 18, 2017 Personal Residential Take-Out Period: Southern Oak Insurance Co. – approved to remove up to …
  
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• Explosion at Georgia Home Kills 1, Damages Neighboring Houses

  06-02-2017 07:02
  
  A powerful explosion destroyed a home in Georgia on Friday, killing one person inside and shattering windows of neighboring houses as the blast’s shockwave was felt by people living miles away. Investigators were unable to quickly determine what triggered the …
  
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• Trump: Replacing Obamacare May Not Happen Until 2018

  06-02-2017 07:00
  
  President Donald Trump said the process for coming up with a replacement for the Affordable Care Act could stretch into 2018, a longer time frame than he previously indicated. Trump’s comments came in an interview with Fox News’ Bill O’Reilly …
  
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• Trump Order Kills Fiduciary Rule Opposed by Financial Advisors

  06-02-2017 07:00
  
  With a swipe of his pen, U.S. President Donald Trump on Friday started killing off a retirement advice rule that wealth managers from Wall Street to Wisconsin have spent the last six years lobbying against. A landmark policy from the …
  
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• Trump Halts Fiduciary Rule Opposed by Financial Advisors; Orders Dodd-Frank Review

  06-02-2017 07:00
  
  President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put …
  
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• Fire Destroys North Carolina Apartment Building

  06-02-2017 06:50
  
  Authorities in Greenville, N.C., say a firefighter was among four people taken to the hospital after fire caused heavy damage at an apartment complex. Local media outlets report firefighters were called to the apartment complex around 1 a.m. Saturday. Emergency …
  
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• North Carolina Auto Rates Going Up? Rate Bureau Files for 13.8% Rate Increase

  06-02-2017 06:09
  
  The North Carolina Rate Bureau (NCRB) is requesting an average increase of 13.8 percent on private passenger automobile insurance rates in its latest filing with the North Carolina Department of Insurance (NCDOI). NCRB files rates on behalf of all insurance …
  
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• 10 windiest large U.S. cities

  06-02-2017 06:01
  
  Wind can cause significant property damage for both businesses and homeowners. Do you have P&C insurance clients in any of these windy metro areas?
  
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