Insurance news

• California Court Says Commissioner Can Prohibit Pass Thru of Advertising Costs

  13-02-2017 22:46
  
  A California Court of Appeal had decided in favor of California Insurance Commissioner Dave Jones in a case against Mercury Insurance Co. and a coalition of insurance industry groups, which sued Jones to challenge his authority regarding “institutional” or “brand” …
  
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• R Street Applauds Texas Bill to Rein in Hail Claims

  13-02-2017 21:27
  
  The R Street Institute applauded the introduction today of S.B. 10, legislation to rein in the growth in Texas hail-related litigation. The bill, sponsored by state Sen. Kelly Hancock, R-North Richland Hills, would provide revisions to Texas law, preserving the …
  
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• Beyonce Faces $20M Copyright Lawsuit in Louisiana from Youtube Star’s Estate

  13-02-2017 21:19
  
  The estate of a late New Orleans YouTube star has filed a $20 million copyright infringement lawsuit against Beyonce over the use of his voice in her “Formation” video. The estate of Anthony Barre, who went by the name Messy …
  
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• Suspected Shooter in Oklahoma Accused of Stealing Insurance Money

  13-02-2017 21:17
  
  Federal investigators say an Oklahoma man who fatally shot himself this week after being suspected of killing two people was facing felony charges connected to an insurance scheme. An FBI affidavit alleges that 55-year-old Timothy Michael Deffner of Norman stole …
  
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• Toyota to urge moratorium on state self-driving car regulations

  13-02-2017 21:03
  
  A senior Toyota executive is urging the federal government to keep states from setting their own autonomous vehicle rules, something carmakers say could threaten the emerging industry with a patchwork of contradictory regulations.
  
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• Good and Bad of Private Equity Investment in Insurance Agencies

  13-02-2017 21:00
  
  It takes a lot of capital for an insurance agency to grow, acquire, merge or partner with another agency, and increasingly, private equity firms are stepping up to the plate to supply that funding. Although the number of reported mergers …
  
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• DuPont to Pay $670M Over Teflon-Making Chemical Leak in West Virginia

  13-02-2017 18:19
  
  DuPont said on Monday it agreed to pay $670.7 million in cash to settle several lawsuits related to a chemical leak from a plant in West Virginia. The company said it settled about 3,550 personal injury claims arising from the …
  
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• School Bus, SUV Collision in North Carolina Kills 1

  13-02-2017 18:14
  
  Officials in Catawba County say one person was killed when an SUV collided with a school bus. Local media outlets report the Catawba County Schools said a driver, a monitor and three students were on the bus at the time …
  
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• Customer in Florida Salon Injured by Gunshot from Next-Door Gun Store

  13-02-2017 18:09
  
  A customer at a nail salon in Florida was accidentally shot after an employee of a gun store next-door inadvertently discharged a gun. The Pinellas County Sheriff’s Office said in a news release that 19-year-old Yaminah Gilbert was shot in …
  
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• Neon Names AlphaCat’s Pritchard as Head of Property Reinsurance

  13-02-2017 17:20
  
  Neon has appointed Nick Pritchard as head of Property Reinsurance. Pritchard initially will be based in Neon’s Bermuda office and will oversee the growth of Neon’s property reinsurance operations across both its Bermuda and London offices. The appointment will be …
  
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• Houston attorney wins rare malice finding against insurer in $1.8M verdict

  13-02-2017 17:17
  
  Learn how a Texas homeowner's claim for hailstorm damage turned into a jury finding of fraud and malice.
  
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• Talk Expected to Turn to Earthquakes at Tornado Summit in Oklahoma

  13-02-2017 17:14
  
  Hundreds of top meteorologists and disaster recovery experts will converge on Oklahoma City this week for a national tornado summit, though much of the discussion is expected to focus on temblors, not twisters. The annual three-day conference in the middle of …
  
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• Willis Tower Watson Appoints 6 to New Roles in Corporate Risk & Broking

  13-02-2017 17:09
  
  Willis Towers Watson announces changes to its Corporate Risk and Broking leadership team.
  
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• Flood Emergency Declared at Utah Dam During Heavy Snowmelt

  13-02-2017 17:07
  
  Federal water managers declared a first-stage flood emergency for the first time at a popular state park and released water from a dam as warming temperatures sent water from rapid snowmelt into homes and onto roads in northern Utah on …
  
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• XL Catlin Opens Shared Services Office in Gurgaon, India

  13-02-2017 16:31
  
  XL Catlin has opened a shared services office, covering three floors at DLF World Tech Park in Gurgaon, India. The new office will provide “vital underwriting support, claims administration, actuarial services, finance and accounting for XL Catlin’s teams across the world,” the …
  
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• Ex-NFL Players Reminded to Register for Concussion Settlement

  13-02-2017 15:47
  
  A federal judge last week urged NFL retirees to register for a concussion settlement that could cost the league $1 billion over 65 years. About 22,000 retirees are encouraged to get baseline neurological testing. The league expects more than 6,000 …
  
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• Brazil’s BB Seguridade Expects Slower Growth as Recession Continues to Bite

  13-02-2017 15:46
  
  State-controlled insurance holding company BB Seguridade Participações SA on Monday forecast slower profit growth this year, reflecting the impact of Brazil’s harshest recession ever and a rapid decline in interest rates. BB Seguridade projected an increase of 1 percent to …
  
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• Intesa’s Interest in Generali Is ‘Strategically Questionable’: Opinion

  13-02-2017 15:31
  
  Intesa Sanpaolo SpA is one of the few Italian banks that could accurately claim to be strong, profitable and shareholder-friendly. Generali’s Market Value: €23 billion It’s curious, therefore, that CEO Carlo Messina seems intent on jeopardizing that record with a …
  
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• Why Predictive Modeling Is Gaining as Fraud Fighting Tool

  13-02-2017 15:29
  
  Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk Insurance Solutions. Though predictive modeling has been used for …
  
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• Keep on keepin’ on: Inland marine market update

  13-02-2017 15:00
  
  If there is one thing that first needs to be understood about the Inland Marine marketplace, it is this: Capacity is not an issue.
  
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• As La Niña Fades, Return of El Niño a Possibility

  13-02-2017 15:00
  
  A U.S. weather forecaster on Thursday said La Niña has faded and neutral conditions are likely to continue in the coming months, though it noted some chance that the El Niño phenomenon may reappear as early as the Northern Hemisphere …
  
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• Trump Labor Chief Nominee Puzder Dodges Disability Bias Suit for Now

  13-02-2017 14:42
  
  Labor secretary nominee Andrew Puzder, the controversial business leader expected to undergo a U.S. Senate confirmation hearing next week, will be spared an emotionally weighted and concurrent discrimination trial against the restaurant group he heads. A state court in Orange …
  
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• Obamacare Foe, Former Surgeon Price Sworn In as Health Secretary

  13-02-2017 14:34
  
  Tom Price was sworn in as U.S. secretary of health on Friday, putting in place a determined opponent of Obamacare to help President Donald Trump dismantle his predecessor’s law and reshape the nation’s healthcare system. The Senate voted 52-47 earlier …
  
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• Sompo Canopius Re Appoints Swiss Re’s Gray as Head of P&I Reinsurance 

  13-02-2017 14:32
  
  Sompo Canopius Re announced the appointment of Christopher Gray as head of P&I reinsurance, effective immediately. Gray, who joins from Swiss Re, reports to Andy Gladwin, global head of marine treaty. Sompo Canopius Re already plays a leading role in …
  
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• Not all data breaches are created equal

  13-02-2017 14:00
  
  Just because a company's database has been breached doesn't mean everyone has suffered compensable damages
  
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• Governor Christie Approves Uber and Lyft to Operate in New Jersey

  13-02-2017 12:54
  
  It’s now legal for ride-hailing services like Uber and Lyft to operate in New Jersey. Republican Gov. Chris Christie on Friday signed off on a measure approved by lawmakers in December to regulate the services and make them legal. The …
  
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• Uber & Ola Drivers’ Strike Paralyzes Ride Hailing Services in India’s Capital

  13-02-2017 12:52
  
  A strike in the Indian capital by thousands of Uber and Ola drivers demanding better pay has paralyzed the ride-hailing services that have grabbed business from traditional taxi and rickshaw operators with their cheaper fares. Commuters faced delays for a …
  
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• Goodyear to Pay $1.75M After Four Deaths at Virginia Factory

  13-02-2017 12:03
  
  Goodyear will pay $1.75 million to settle workplace health and safety violations at its Danville, Va., tire plant where four workers died on the job over the course of a year, officials announced Friday. Goodyear, the United Steelworkers and the …
  
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• Four Critical Defects Found in Latest Oil Train Inspections in New York

  13-02-2017 12:00
  
  State and federal inspectors found four critical defects and 42 non-critical ones in the latest round of oil train and track inspections across New York state. Gov. Andrew Cuomo says the targeted inspections of tank cars and tracks are critical …
  
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• Drone Insurance for New Zealand - sUAS News

  13-02-2017 11:37
  
  sUAS News
  Drone Insurance for New Zealand
  sUAS News
  Delta Insurance New Zealand Limited, launched New Zealand's most comprehensive UAV (drone) operator's insurance solution. This launch took place in conjunction with Delta's sponsorship of the NZ UAV Conference held at the Auckland University of ...and more »
  
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• The direction of insurance in 2017: It’s all about convergence

  13-02-2017 11:30
  
  As insurers continue major initiatives, launch new ones, and respond to the external forces acting on the industry, the strategies are increasingly overlapping and becoming mutually dependent.
  
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• Coats Residents Can Get Flood Insurance - The Daily Record (registration)

  13-02-2017 11:20
  
  Coats Residents Can Get Flood Insurance
  The Daily Record (registration)
  Many residents in Coats had contacted Town Manager Kenny Cole regarding not being able to purchase flood insurance. The town was not part of the National Flood Insurance Prevention Ordinance. In conjunction with FEMA, the town is now part of that ...
  
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• Washington Insurance Commissioner Fines State Farm, Others - Insurance Journal

  13-02-2017 11:05
  
  Washington Insurance Commissioner Fines State Farm, Others
  Insurance Journal
  Washington Insurance Commissioner Mike Kreidler issued fines in January totaling $15,000 against insurance companies, agents and brokers for violating state insurance regulations. Following are the entities, the fines and Kreidler's reasoning for ...
  
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• Washington Insurance Commissioner Fines State Farm, Others

  13-02-2017 11:00
  
  Washington Insurance Commissioner Mike Kreidler issued fines in January totaling $15,000 against insurance companies, agents and brokers for violating state insurance regulations. Following are the entities, the fines and Kreidler’s reasoning for issuing those fines: State Farm Fire & Casualty …
  
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• Californians searching for lower auto insurance rates have more options - Lake County News

  13-02-2017 08:34
  Californians searching for lower auto insurance rates have more options
  Lake County News
  Finding the lowest auto insurance rates requires some research and the California Department of Insurance offers an online comparison tool that gives drivers more options to find the most affordable rates. "When shopping for insurance it is important ...
  
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• Cutting the health insurance Gordian Knot - American Thinker (blog)

  13-02-2017 08:19
  
  Cutting the health insurance Gordian Knot
  American Thinker (blog)
  With one simple executive order, President Trump could reduce the healthcare costs of the uninsured by 90%. Here it is: “The Center for Medicare and Medicaid Services shall include the following in all future contracts with healthcare providers: No ...
  
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• State, Federal Officials Investigating Louisiana Blast that Killed 3

  13-02-2017 07:41
  
  Authorities have identified the three workers who died in an explosion at the Packaging Corporation of America plant in DeRidder, La. The Beauregard Daily news reports that the Beauregard Parish Sheriff’s Office identified those killed as 33-year-old William Rolls, Jr.; …
  
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• Fighting Massive 2016 Wildfire Cost Kansas County $1.5M

  13-02-2017 07:37
  
  Firefighting costs hit $1.5 million in the county hardest hit by a massive wildfire along the Kansas-Oklahoma border last year. Jerry McNamar, emergency management director for Kansas’ Barber County, said he’s optimistic that the Federal Emergency Management Agency will pay …
  
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• Suspected Oklahoma Shooter Accused of Stealing Insurance Money - Insurance Journal

  13-02-2017 07:36
  
  Suspected Oklahoma Shooter Accused of Stealing Insurance Money
  Insurance Journal
  An FBI affidavit filed says an Oklahoma man, who authorities say fatally shot himself after being suspected of killing two people, faced five felony counts of uttering forged instruments in connection with an insurance scheme. The affidavit says 55 ...
  
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• Phillips 66: Worker Unaccounted for After Louisiana Pipeline Explosion

  13-02-2017 07:35
  
  A Phillips 66 employee remains unaccounted for after an explosion sparked a fire at a pipeline station it operates west of New Orleans, the company said in a statement. Six people were working at the site in Paradis, Louisiana, when …
  
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• Suspected Oklahoma Shooter Accused of Stealing Insurance Money

  13-02-2017 07:30
  
  An FBI affidavit filed says an Oklahoma man, who authorities say fatally shot himself after being suspected of killing two people, faced five felony counts of uttering forged instruments in connection with an insurance scheme. The affidavit says 55-year-old Timothy …
  
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• South Dakota Lawmakers Reject Insurer Tax Credit Disclosure

  13-02-2017 07:26
  
  South Dakota lawmakers have rejected a bill that was meant to increase transparency in the state’s school choice scholarship program. The bill, voted down 9-6 in the House Education Committee, would have required insurance companies to disclose how much money …
  
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• Wisconsin Governor Lets Apartment Sprinkler Requirement Stand

  13-02-2017 07:22
  
  Wisconsin Gov. Scott Walker’s administration has reversed itself and no longer plans to roll back a requirement for fire sprinklers in many new apartment buildings. The state Department of Safety and Professional Services recently advanced plans to end a requirement …
  
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• Texas High Court Sides with Policyholder in Ike-Damaged Property Case

  13-02-2017 07:18
  
  When is a fence a “dwelling” structure for insurance coverage purposes and when is it an “other structure?” The Texas Supreme Court, relying on disputed language in a Liberty Mutual Insurance Co. homeowners policy, found that a fence is a …
  
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• Experts says reversal of mortgage insurance reduction could impact first time buyers - Meriden Record-Journal

  13-02-2017 07:11
  
  Meriden Record-Journal
  Experts says reversal of mortgage insurance reduction could impact first time buyers
  Meriden Record-Journal
  Employees assist customers in the call center at The Money Source Inc. in Meriden, Thursday, January 5, 2017. | Dave Zajac, Record-Journal. February 13, 2017 01:06AM By Mary Ellen Godin Record-Journal staff. Facebook Twitter Pinterest Google+ Email.
  
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• Madison father pushes for autism insurance reform - whnt.com

  13-02-2017 06:31
  
  whnt.com
  Madison father pushes for autism insurance reform
  whnt.com
  One in every 68 children is diagnosed with autism. The society said thousands of families in Alabama could benefit from a reform. Alabama is one of five states that doesn't mandate insurance coverage for effective autism therapies. That's why parents ...
  
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• Tennessee Captive Industry Sets Record Growth in 2016

  13-02-2017 06:05
  
  Tennessee’s captive insurance market saw a record annual total of 104 risk bearing entities (RBEs) added in 2016, according to data released by the Tennessee Department of Commerce & Insurance (TDCI). The new captives are comprised of 30 pure captives, …
  
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• 6 risks small business owners face when they grow

  13-02-2017 06:01
  
  Most small businesses expect to grow in 2017. With that growth, however, comes risks.
  
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• Liquid Nitrogen Leak at Georgia Sperm Bank Kills Responding Deputy

  13-02-2017 06:00
  
  A Georgia sperm bank has been cited two days after a sheriff’s deputy died from inhaling liquid nitrogen while trying to save an employee. News outlets report that the Georgia Department of Insurance issued a cease and desist order Tuesday …
  
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• International Drone Racing Association Launches Primary Coverage for Drone Pilots

  13-02-2017 06:00
  
  I The International Drone Racing Association (IDRA) has launched a primary UAV aircraft liability insurance policy to cover drone pilots worldwide. Included with the rollout of IDRA’s membership service, each IDRA member will be insured, with a $1 million UAV …
  
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