Insurance news

• Drone-plane near misses, other incidents surged 46 percent in U.S.

  23-02-2017 20:31
  
  Reports of drones violating safety standards in the U.S. continued to climb last year, rising by 46 percent over the same period a year earlier.
  
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• Hanover Insurance Restructures Agency Business; Eyes Specialty Expansion - Insurance Journal

  23-02-2017 20:00
  
  Hanover Insurance Restructures Agency Business; Eyes Specialty Expansion
  Insurance Journal
  The Hanover Insurance Group Inc. is making some organizational changes as it implements what its CEO calls its “go-forward business strategy, Hanover 2021” that is focused on growing responsibly, managing volatility and generating strong returns for ...and more »
  
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• Hanover Insurance Restructures Agency Business; Eyes Specialty Expansion

  23-02-2017 19:55
  
  The Hanover Insurance Group Inc. is making some organizational changes as it implements what its CEO calls its “go-forward business strategy, Hanover 2021” that is focused on growing responsibly, managing volatility and generating strong returns for shareholders. Joseph M. Zubretsky, president …
  
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• Michigan Medical Services Firm to Pay $21.5K to Settle Disability Discrimination Suit

  23-02-2017 18:44
  
  A medical services provider serving the Muskegon, Michigan, region will pay $21,500 and furnish other relief to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC announced it had charged that Muskegon Family …
  
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• Judge Won’t Toss Bias Claims Over Louisiana Salon Inspections

  23-02-2017 18:32
  
  A federal judge on has refused to dismiss a lawsuit that accuses Louisiana state regulators of racially discriminating against a group of Vietnamese-American nail salon owners. U.S. District Judge Brian Jackson’s ruling clears the way for a jury trial next …
  
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• 5 Years of Lawsuit Settlements Cost State of Missouri $52M

  23-02-2017 18:28
  
  Missouri has paid more than $52 million over the last five years to settle lawsuits against various state agencies, according to information from the attorney general’s office. The House budget committee received the list of settlements just before a public …
  
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• Former Staffer Files Whistleblower Suit Against Louisiana Sheriff

  23-02-2017 18:27
  
  A former south Louisiana sheriff’s office employee says the sheriff wrongly fired her for cooperating with the FBI in an investigation against him. In a lawsuit filed earlier this month, Deborah Lourd said she was fired last year, shortly after …
  
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• Tulsa Man Who Assaulted Insurance Adjuster Gets Life Sentence

  23-02-2017 18:26
  
  A Tulsa, Okla., man who filed a bogus insurance claim and assaulted an insurance adjuster has been sentenced to life in prison, the state insurance department announced. Prentice E. Ponds II, 43, was on parole at the time of the …
  
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• Arthur J. Gallagher Acquires Wisconsin’s Kelly Financial

  23-02-2017 18:21
  
  Arthur J. Gallagher & Co. has acquired Madison, Wisconsin-based Kelly Financial Inc. Terms of the transaction were not disclosed. Founded in 1957 by John M. Kelly and incorporated in 1994 by Scott Kelly, Kelly Financial offers retirement plan management, wealth management …
  
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• Dwellings and lead contamination

  23-02-2017 17:30
  
  Exclusions related to lead poisoning in dwellings are limited to just a few states
  
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• Opinion: Could your Fitbit data raise the cost of your health insurance? - MarketWatch

  23-02-2017 17:20
  
  MarketWatch
  Opinion: Could your Fitbit data raise the cost of your health insurance?
  MarketWatch
  Wearing a fitness tracking device could earn you cash from your health insurance company. At first, this sounds lucrative for the people who participate, and good for the companies, who want healthier insurance customers. But it's not quite so simple.and more »
  
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• Officials Team Up to Fight Opioid Crisis in Vermont Community

  23-02-2017 16:14
  
  Burlington, Vt., officials and community partners are teaming up to combat a spike in opioid-related deaths. Vermont saw a 38 percent increase in opioid-related deaths from 2015 to 2016. Mayor Miro Weinberger joined the city’s police chief and other officials …
  
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• Con Ed to Pay $153M to Settle New York City Explosion Charges

  23-02-2017 15:18
  
  Consolidated Edison has agreed to pay $153 million to settle charges over a 2014 gas explosion in East Harlem that killed eight people and injured about 50. The settlement was approved on Thursday by the state’s Public Service Commission. The …
  
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• How Supreme Court Just Made Things Easier for Patent Infringers

  23-02-2017 15:15
  
  The Supreme Court made it easier on Wednesday for U.S. manufacturers to infringe patents held by competitors by manufacturing all but one of the infringing components abroad. The practical consequences could be significant, as could the court’s apparent view that …
  
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• Maine Lawmaker Wants to Block Car Insurance Hikes Based on Age

  23-02-2017 15:06
  
  A Maine state senator is looking to protect senior citizens in the state from having car insurance rates go up because of their ages. Sen. Bill Diamond, a Windham Democrat, says his bill follows up on insurance giant Progressive’s attempt …
  
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• Canadian Broker Network Names Robinson as Chairman, Succeeding Miller

  23-02-2017 14:49
  
  Canadian Broker Network (CBN), Canada’s network of independent insurance brokers, has appointed Mike Robinson, president and CEO, PBL Insurance Ltd., as chairman. Robinson succeeds Tim Miller, president of Capri Insurance Services, who has been CBN chairman for the past three …
  
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• With Growth of the Gig Economy, States Rethink How Workers Get Benefits

  23-02-2017 14:47
  
  As more and more Americans hold nontraditional jobs that don’t have benefits attached — think freelance graphic designers or Uber drivers — cities and states are exploring ways to ensure those workers still have access to workers’ compensation, unemployment insurance, …
  
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• AXA Chief Rules Out Major Acquisitions Such as Generali

  23-02-2017 14:23
  
  AXA has reached a “critical size” and is ruling out major acquisitions such as Italy’s Generali, the French insurer’s chief executive Thomas Buberl said on Thursday. It is managing risks relating to May’s presidential election in France and raising its …
  
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• Investments in Insurtech Expected to ‘Keep Booming’ in 2017: KPMG Report

  23-02-2017 13:50
  
  Investor interest in insurtech is expected “to remain hot across all regions of the world” during 2017, following a strong growth in 2016, according to a report published by KPMG. In the coming year, most insurtech investments likely will focus …
  
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• Delaware DOI Begins National Search for New Captive Insurance Bureau Director

  23-02-2017 12:27
  
  The Delaware Department of Insurance has announced that it has begun the search for a new Director of the Bureau of Captive Insurance and Financial Products once current director Steve Kinion’s contract expires April 1, 2017. This is because the …
  
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• Obamacare 101: Are health insurance marketplaces in a death spiral? - Los Angeles Times

  23-02-2017 12:05
  
  Los Angeles Times
  Obamacare 101: Are health insurance marketplaces in a death spiral?
  Los Angeles Times
  It's been a rocky few months for the health insurance marketplaces created by the Affordable Care Act. Even if you're not one of the roughly 11 million Americans who rely on these online exchanges to get your health insurance, you've probably seen the ...and more »
  
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• Who has the responsibility to advise insureds about policy limits?

  23-02-2017 12:00
  
  Does an insurer have a duty to advise its longtime clients to carry higher limits when they change coverage?
  
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• Charting the evolving role and authority of the chief risk officer (CRO)

  23-02-2017 12:00
  
  The 2016 CRO survey results show clear trends toward expanding enterprise risk management scope and maturity, rising CRO influence and increasing 'operationalization.'
  
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• Vice Chair of State-Owned People’s Insurance Group of China in Corruption Probe

  23-02-2017 11:41
  
  The vice chairman of state-owned People’s Insurance Group of China is being investigated for alleged discipline violations, the ruling Communist Party’s anti-corruption watchdog said on Thursday, employing the usual euphemism for corruption. Wang Yincheng is the latest senior official of a state-owned …
  
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• Europe’s Windstorm Egon to Cost Insurers an Estimated US$223.3M: PERILS

  23-02-2017 11:23
  
  The initial estimate of the insured property market loss for extra-tropical cyclone Egon, which hit France and Germany in January, is €212 million (US$223.3 million), according to PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data. While the …
  
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• California Surplus Lines Association Elects Ciardello Chairman of the Board

  23-02-2017 11:00
  
  The members of the Surplus Line Association of California have elected Tom Ciardello, senior executive vice president of Worldwide Facilities LLC, as the chair of the SLA board of directors. Ciardello’s election was finalized after the SLA tallied the final …
  
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• Beecher Carlson Names Newell as Managing Director in California

  23-02-2017 11:00
  
  Beecher Carlson Insurance Services LLC is expanding its West Coast operations with the appointment of Keith Newell as its managing director. Newell will be primarily based in the firm’s Woodland Hills, Calif. office. Newell’s focus is on new business strategies …
  
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• China Regulator Puts Brakes on Insurers’ 3-Year, $100-Billion Buying Spree

  23-02-2017 10:42
  
  A regulatory clampdown on speculation by insurers and new limits on outbound capital flows are causing one of China’s most acquisitive industries to hit the brakes. Chinese insurers, after announcing almost $100 billion of deals over the past three years, …
  
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• EU Solvency II Rules Need ‘Tweaks,’ Not Overhaul: Bank of England

  23-02-2017 08:22
  
  EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers’ claim, the Bank of England said on Wednesday. Officials from Aviva and Legal & General, two of Britain’s biggest insurers …
  
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• Miss Kentucky USA Runner-Up Pleads Not Guilty to Arson Charge

  23-02-2017 07:05
  
  Miss Kentucky USA runner-up has pleaded not guilty to an arson charge, accused of setting her roommate’s bed on fire at an apartment complex near the University of Louisville. WAVE-TV reports 22-year-old Christen McAllister appeared before a judge on Tuesday …
  
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• Study Warns on Cumulative Effect of ‘Drip, Drip, Drip’ of Nuisance Flooding

  23-02-2017 07:00
  
  Climate change is being felt in many coastal communities of the United States, not always in the form of big weather disasters but as a steady drip, drip, drip of nuisance flooding. According to researchers at the University of California, …
  
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• Federal Appeals Court Rules Florida Doctors Can Ask Patients About Guns

  23-02-2017 06:59
  
  A federal appeals court has ruled that Florida doctors can talk to patients about gun safety, declaring a law aimed at restricting such discussions a violation of the First Amendment’s right to free speech. The 11th U.S. Circuit Court of …
  
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• Orchid Underwriters Rolls Out Admitted Homeowners Products in Alabama

  23-02-2017 06:30
  
  Orchid Underwriters Agency, LLC, a specialty underwriter of excess & surplus insurance focusing on coastal properties, has launched admitted residential homeowners’ products through a new partnership with Spinnaker Insurance Co., a national property and casualty insurer. Orchid will roll out …
  
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• 20 best cars for the money in 2017

  23-02-2017 06:01
  
  Help your insurance clients find a vehicle that's a good value and posseses the comfort, features and quality performance everyone wants.
  
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• Not All San Jose Flood Victims Have Flood Insurance - CBS Local

  23-02-2017 04:52
  
  CBS Local
  Not All San Jose Flood Victims Have Flood Insurance
  CBS Local
  SAN JOSE (KPIX 5) — Many in San Jose's flood zone are now wondering how they'll pay for the damage. Flood insurance may come to the rescue, for some. One San Jose resident said, “It's never been this bad.” While he is counting his blessings — unlike ...and more »
  
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• Tesla Model 3 Progress, Gigafactories 1–5, Tesla Insurance … (Tesla 4th Quarter & 2016 Financials Call & Report) - CleanTechnica

  23-02-2017 01:47
  
  CleanTechnica
  Tesla Model 3 Progress, Gigafactories 1–5, Tesla Insurance … (Tesla 4th Quarter & 2016 Financials Call & Report)
  CleanTechnica
  In what was likely the most anticipated earnings call ever for Tesla, the auto manufacturer / stationary storage manufacturer / full service solar provider / soon-to-be taxi service / autonomous vehicle technology company (and maybe insurance company ...and more »
  
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• Hurricane Matthew losses blamed for Universal Insurance Holdings' 4Q income drop - Sun Sentinel

  23-02-2017 00:59
  
  Sun Sentinel
  Hurricane Matthew losses blamed for Universal Insurance Holdings' 4Q income drop
  Sun Sentinel
  Hurricane Matthew skirts Florida's coast on October 7. Fort Lauderdale-based Universal Insurance Holdings reported $26.6 million in losses from Matthew-related claims in the fourth quarter of 2016. (AP). Ron HurtibiseContact ReporterSun Sentinel.
  Universal Insurance Holdings' (UVE) CEO Sean Downes on Q4 2016 Results - Earnings Call TranscriptSeeking Alphaall 9 news articles »
  
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• Mortimer Floats $20.3M Plan To Address Insurance Costs - Boise State Public Radio

  23-02-2017 00:55
  
  Boise State Public Radio
  Mortimer Floats $20.3M Plan To Address Insurance Costs
  Boise State Public Radio
  Senator Dean Mortimer chairs Senate Education and sits on the budget-writing Joint Finance-Appropriations Committee. Credit Idaho Ed News. Sen. Dean Mortimer has a $20.3 million plan to help schools cover health insurance costs. Education groups are ...and more »
  
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• Smartphones blamed for rising insurance rates | KING5.com - KING5.com

  23-02-2017 00:48
  
  MIT Technology Review
  Smartphones blamed for rising insurance rates | KING5.com
  KING5.com
  Insurance companies say smartphone use is a contributing factor in rising auto insurance rates.
  Technology-Induced Distracted Driving Is Pushing Up Insurance ...MIT Technology Reviewall 2 news articles »
  
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• Tesla wants to offer vehicles with one price, including insurance and ... - TechCrunch

  23-02-2017 00:02
  
  TechCrunch
  Tesla wants to offer vehicles with one price, including insurance and ...
  TechCrunch
  Tesla has begun offering customers in Asia a package that includes in the purchase price the cost of insurance and maintenance, the company noted on its..
  Buying a Tesla could soon include lifetime insurance and ...TNW
  Tesla wants to offer packages that cover car maintenance and ...The Tech Portalall 3 news articles »
  
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