Insurance news

• AIG Directors Mull CEO Hancock’s Fate After Disappointing Results

  27-02-2017 23:26
  
  American International Group Inc.’s directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm’s turnaround plan, the Wall Street Journal reported, citing people familiar with the matter. Fifteen directors are …
  
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• WATCH: Rick Santorum suggests “millions” of sick Americans are defrauding insurance companies - Salon

  27-02-2017 23:25
  
  Salon
  WATCH: Rick Santorum suggests “millions” of sick Americans are defrauding insurance companies
  Salon
  Former Republican presidential candidate Rick Santorum suggested on CNN's “State of the Union” that millions of Americans with pre-existing conditions were scamming insurance companies. Debating the current state of the Affordable Care Act, Santorum ...and more »
  
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• A hurricane shouldn't bankrupt your insurance company. - Phys.Org

  27-02-2017 23:06
  
  A hurricane shouldn't bankrupt your insurance company.
  Phys.Org
  Illustration of the interplay between physical and financial infrastructure during an extreme event. Credit: Carnegie Mellon University, Department of Civil and Environmental Engineering. When a storm puts a tree branch through your roof, or a flood ...
  
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• Small biz insurance company says it found mistakes in reports, shares plunge - CNBC

  27-02-2017 22:53
  
  CNBC
  Small biz insurance company says it found mistakes in reports, shares plunge
  CNBC
  Shares of AmTrust Financial Services dropped Monday to their lowest in more than two years after the company said it found errors in its financial statements. AmTrust also said it has requested a 15-day extension from the Securities and Exchange ...and more »
  
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• QBE Insurance cuts CEO's bonus - Business Insurance

  27-02-2017 22:19
  QBE Insurance cuts CEO's bonus
  Business Insurance
  The 2016 bonus of QBE Insurance Group Ltd.'s executive John Neal has been slashed by 20% because he failed to disclose a relationship with his executive assistant, according to multiple news reports in Australia on Monday. QBE's annual report says John ...and more »
  
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• Warren Buffett says global warming is not impacting the way Berkshire writes insurance - CNBC

  27-02-2017 21:34
  
  CNBC
  Warren Buffett says global warming is not impacting the way Berkshire writes insurance
  CNBC
  Berkshire Hathaway CEO Warren Buffett on Monday said he has not yet seen sufficient evidence that climate change is affecting weather events to a degree that would make him change the way his conglomerate's insurance businesses write policies.
  Buffett praises Berkshire insurance execs, muses on past mistakesBusiness Insurance
  Berkshire Hathaway's Insurance Keeps Growing and Hiring Despite Auto, Rein
  
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• GOP will end up saving Obama's legacy on health insurance - Fox News

  27-02-2017 19:54
  
  Fox News
  GOP will end up saving Obama's legacy on health insurance
  Fox News
  **Want FOX News Halftime Report in your inbox every day? Sign up here.** On the roster: GOP will end up saving Obama's legacy on health insurance - Trump's 2018 budget: Increase for defense, slash for EPA - Trump to dine with local anchors - Dubya ...
  Remarks by President Trump in Listening Session with Health Insurance Company CEOsThe White House (blog)
  Replacing Obamacare Made Easy: The Case For The Universal Hea
  
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• Fifth Third to buy insurance agency in Cincinnati - American Banker

  27-02-2017 19:49
  
  American Banker
  Fifth Third to buy insurance agency in Cincinnati
  American Banker
  The $142 billion-asset Fifth Third said in a press release Monday that it had agreed to buy R.G. McGraw Insurance Agency, a firm that specializes in property and casualty insurance for companies and affluent individuals. The agency also provides risk ...
  
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• Cavignac & Associates in California Names Watson Junior Account Executive

  27-02-2017 19:22
  
  San Diego, Calif.-based Cavignac & Associates has named Stephen Watson a junior account executive. Watson’s area of focus will be on professional liability. Watson previously was employed as assistant manager of Walmart in State College, Pa., where he lead, trained …
  
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• Who's using what in the insurance industry: Feb. 27, 2017

  27-02-2017 19:00
  
  News from PCIS, RiskMatch, Duck Creek Technologies, ISCS and more.
  
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• Marsh Launches New Excess Medical Professional Liability Policy Form

  27-02-2017 18:51
  
  Marsh has unveiled a new excess medical professional liability (MPL) policy form that combines industry favorable MPL terms and conditions into a single excess policy to be used by commercial insurers. Developed by Marsh’s US Casualty and HealthCare Practices in …
  
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• Self-Driving Nissan Car Begins Tests on Streets of London

  27-02-2017 18:43
  
  Guided by cameras and radars, and negotiating traffic and roundabouts, a self-driving Nissan car took to the streets of London on Monday for the Japanese company’s first European tests of an autonomous vehicle. Traveling at up to 50 miles (80 …
  
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• Ohio Man Pleads Guilty to Workers’ Comp Fraud

  27-02-2017 18:35
  
  A Marion, Ohio, man who was injured on the job as an emergency medical technician in 2010 recently pleaded guilty to workers’ compensation fraud after investigators discovered him working as a high school bowling coach, the Ohio Bureau of Workers’ …
  
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• Oklahoma Pipeline Company to Reimburse Iowa Entities for Spill

  27-02-2017 18:29
  
  An Oklahoma pipeline company says it will reimburse north-central Iowa agencies for expenses they incurred while responding to a diesel pipeline spill near Hanlontown last month. The Mason City Globe Gazette reports that Magellan Midstream Partners is making the offer. …
  
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• Tesla is so confident in their vehicles they're offering lifetime insurance - Inhabitat

  27-02-2017 18:25
  
  Inhabitat
  Tesla is so confident in their vehicles they're offering lifetime insurance
  Inhabitat
  Once again Tesla is shaking up the automotive industry, this time through insurance for life. The company has started offering a lifetime maintenance and insurance package for some customers, meaning monthly car insurance bills could soon be a budget ...
  Tesla is already showing how the insurance industry will be disrupted by self-driving carsBusiness Insider
  Tesla (TSLA) to Enter Auto Insurance
  
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• Changing tides: Reframing the client conversation around flood insurance

  27-02-2017 18:25
  
  Rapidly changing weather patterns are significantly changing and shifting the risk of flood. Do your clients know that?
  
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• Alliant Adds Gulf Coast Marine Expert, Hood, in New Orleans

  27-02-2017 18:23
  
  Alliant Insurance Services, headquartered in Newport Beach, Calif., has added Tom Hood to its energy and marine group in New Orleans. As first vice president, Hood will provide targeted insurance, risk management and finance solutions to a growing portfolio of …
  
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• 28 Injured in New Orleans Parade Crash; DWI Suspected

  27-02-2017 18:16
  
  Authorities on Sunday identified the man who allegedly plowed into a crowd enjoying a Mardi Gras parade in New Orleans while intoxicated. The New Orleans Police Department issued a statement identifying the man as 25-year-old Neilson Rizzuto. Online jail records …
  
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• Breweries and distilleries ask: Are dogs welcome?

  27-02-2017 18:02
  
  Are dogs allowed at breweries and distilleries? It depends, but they’re better off staying home.
  
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• Berkshire Hathaway’s Insurance Keeps Growing and Hiring Despite Auto, Reinsurance Blips

  27-02-2017 17:30
  
  Even though Berkshire Hathaway’s GEICO chalked up an underwriting loss in the fourth-quarter 2016, with full-year profit coming in basically even with 2015, the company is poised to take advantage of competitor fears, according to the company’s earnings release and …
  
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• Drowning in a 'high-risk insurance pool' — at $18000 a year - PBS NewsHour

  27-02-2017 17:25
  
  PBS NewsHour
  Drowning in a 'high-risk insurance pool' — at $18000 a year
  PBS NewsHour
  House Speaker Paul Ryan (R-WI) is among the Republicans who have made the case for high risk pools. Photo by Zach Gibson/Getty Images. Some Republicans looking to scrap the Affordable Care Act say monthly health insurance premiums need to be ...and more »
  
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• Company Founded by Google Accuses Uber of Autonomous VehicleTheft

  27-02-2017 17:05
  
  A self-driving car company founded by Google is colliding with ridesharing service Uber in a court battle revolving around allegations of betrayal, high-tech espionage and greed. The brewing showdown emerged in a lawsuit filed in a San Francisco federal court …
  
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• Arizona Senate Votes to Raise Minimum Auto Liability Insurance - Insurance Journal

  27-02-2017 17:05
  
  Arizona Senate Votes to Raise Minimum Auto Liability Insurance
  Insurance Journal
  The Arizona Senate approved a bill to raise the minimum amount of liability coverage drivers are required to carry on auto insurance policies, a proposal backers say is needed to protect accident victims from loss. The bill by Sen. Kate Brophy McGee ...and more »
  
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• Arizona Senate Votes to Raise Minimum Auto Liability Insurance

  27-02-2017 17:01
  
  The Arizona Senate approved a bill to raise the minimum amount of liability coverage drivers are required to carry on auto insurance policies, a proposal backers say is needed to protect accident victims from loss. The bill by Sen. Kate …
  
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• California Governor Calls for $437M in Spending for Flood Control

  27-02-2017 16:58
  
  California Gov. Jerry Brown is calling for a boost in spending on water and transportation infrastructure as the waterlogged state grapples with an emergency dam repair, frantic levee fixes and catastrophic road damage caused by storms. The Democratic governor redirected …
  
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• Washington Utility Commits to Maintain Low Levels at Lake over Quake Fears

  27-02-2017 16:55
  
  Updated earthquake concerns for Mossyrock Dam, the tallest structure of its kind in Washington, have prompted Tacoma Power to commit to a new, reduced water level at Riffe Lake that will likely stretch well into the next decade. The Chronicle …
  
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• So much for Trump's promise everyone would have terrific insurance - Daily Kos

  27-02-2017 16:32
  
  Daily Kos
  So much for Trump's promise everyone would have terrific insurance
  Daily Kos
  So much for popular vote loser Donald Trump's worries that taking health insurance away from people with Republicans' Obamacare "replacement" plan would make him too unpopular. Clearly, he's able to ignore the fact that he's the most unpopular new ...and more »
  
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• Trump Meets With Insurance Execs on Obamacare Repeal - NBCNews.com

  27-02-2017 16:12
  
  NBCNews.com
  Trump Meets With Insurance Execs on Obamacare Repeal
  NBCNews.com
  President Donald Trump met with health insurance CEOs this morning at the White House to try to win their support for the Republican revamp of Obamacare. Play. Facebook · Twitter · Google Plus; Embed. Welker, Velshi Discuss Trump's Meeting With Health ...
  
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• Police Say Worker Dies After Falling from Roof of Massachusetts Home

  27-02-2017 15:37
  
  Police say a man working on a house under construction in Duxbury, Mass., has died in a fall from the roof. The Patriot Ledger reports that police and firefighters were called to the construction site at around 7:45 a.m. Tuesday following …
  
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• Pennsylvania Doctor Admits to Selling $5M Worth of Prescriptions to Addicts

  27-02-2017 15:23
  
  A doctor has admitted his role in peddling prescriptions from a now-defunct clinic in Philadelphia, Penn., that specialized in helping drug addicts. Seventy-eighty-year-old Dr. Alan Summers pleaded guilty in federal court to charges including conspiracy, drug distribution, money laundering and …
  
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• New York’s Crystal & Company Hires Giuè

  27-02-2017 15:19
  
  Crystal & Company, a New York-based strategic risk and insurance advisor, has hired Ciro Giuè as an executive director and national practice leader for voluntary and worksite employee benefit solutions. Giuè brings 10 years of industry experience to his new …
  
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• Maine-Headquartered Clark Insurance Promotes Two and Hires One

  27-02-2017 15:00
  
  Clark Insurance, a Portland, Maine-headquartered independent insurance agency, has promoted two employees and hired one. Tricia Spencer has been promoted to business insurance department coordinator. Spencer initially joined the agency in 2012. In her new role, she will be responsible …
  
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• Insurance premiums 'set to soar' after compensation changes - BBC News

  27-02-2017 13:23
  
  The Sun
  Insurance premiums 'set to soar' after compensation changes
  BBC News
  Average car insurance premiums could increase by up to £75 a year as a result of a government ruling, industry experts have said. A new formula for calculating compensation payments for those who suffer long-term injuries has been announced by the ...
  Car insurance premiums for MILLIONS of drivers to rise by £75 a year due to compensation payout changeThe Sun
  Insurance premiums for drivers could rise b
  
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• Asta Invests in London & Dubai Reinsurance MGA, Arma Underwriting

  27-02-2017 13:17
  
  Asta, the London-based Lloyd’s third party managing agent and specialist MGA investor, announced it has agreed to invest in the development of Arma Underwriting Ltd. Asta will take a minority equity stake in Arma and will also support the company’s infrastructure including finance and IT. Arma received “in principle” approval from the Dubai Financial Services Authority on F
  
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• 5 strategic business lessons from 2017's Academy Award nominees

  27-02-2017 12:30
  
  By watching this year's best picture nominees, advisors can hone in on new ways to connect with clients, develop networks and perfect time management skills.
  
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• Chubb Names Krishnan to Lead Global Accounts; Lakickas Is Division EVP

  27-02-2017 12:25
  
  Chubb has announced two senior management appointments to its Global Accounts division, serving large and complex clients in Europe and around the world. Suresh Krishnan, currently executive vice president, Global Accounts, Overseas General Insurance, has been appointed to the newly created role …
  
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• Singapore Tightens Rules for Sharing Economy that Could Disrupt Asia Ambitions

  27-02-2017 12:06
  
  Singapore, a keen early adopter of the sharing economy, has fired a warning shot across the bow of Airbnb and Uber with tighter rules that could shake up their business models and growth ambitions in Asia. The rules, some say, …
  
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• Opportunity creation: 5 ways to grow your insurance business

  27-02-2017 12:00
  
  Growth potential is left untapped when your focus remains squarely on working with clients you already have rather than exploring new opportunities.
  
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• 10 cities adding the most millennials to the workforce

  27-02-2017 12:00
  
  Some cities are magnets for millennial workers. Here are the 10 where you'll find the most younger workers.
  
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• UK, Canada Regulators Sign Agreement to Help Expansion of Fintech Firms

  27-02-2017 09:45
  
  British and Canadian regulators have signed an agreement to make it easier for financial technology companies to expand in each other’s markets, they said on Wednesday. The agreement between the UK’s Financial Conduct Authority and the Ontario Securities Commission is …
  
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• Intesa Abandons Plans to Buy Generali, Citing Lack of Shareholder Value

  27-02-2017 08:28
  
  Italy’s biggest retail bank Intesa Sanpaolo abandoned plans to join forces with the country’s largest insurer Assicurazioni Generali on Friday, saying a tie-up would not create value for its shareholders. A merger of the two would have created an Italian …
  
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• Trump Administration Reviewing Obama’s Autonomous Vehicle Guidance

  27-02-2017 07:00
  
  U.S. Transportation Secretary Elaine Chao said on Sunday she is reviewing self-driving vehicle guidance issued by the Obama administration and urged companies to explain the benefits of automated vehicles to a skeptical public. The guidelines, which were issued in September, …
  
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• Staying Alive: Cutting U.S. Highway Death Rate to Zero

  27-02-2017 07:00
  
  In the near future, the U.S. should be able to prevent thousands, and perhaps tens of thousands, of deaths on the roads and highways. The Department of Transportation has proposed a Road to Zero — the elimination of motor-vehicle fatalities …
  
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• Republicans’ Replacement for Obamacare Taking Shape

  27-02-2017 07:00
  
  Republican lawmakers expect that their Obamacare replacement will result in fewer Americans covered by health insurance, a fact that’s likely to increase blowback amid growing support for the program. New details of the plan are beginning to emerge, described by …
  
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• 12 Children Hospitalized in Kentucky Church Bus Crash

  27-02-2017 06:24
  
  Authorities say 12 children were taken to the hospital after a church bus crashed in southern Kentucky. Laurel County Sheriff John Root says in a statement that the crash happened about 8:30 p.m. Wednesday on a road near London when …
  
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• Paid Claims from Mississippi Tornado Damage Top $31M, And Growing

  27-02-2017 06:18
  
    Insurers have paid out more than $31.6 million on 2,801 claims from tornadoes that hit Mississippi last month. The Mississippi Insurance Department reported the figures through Feb. 3. Mississippi Insurance Commissioner Mike Chaney said immediately after the storms he …
  
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• Arson Fire Set to Second Florida Mosque in Past 6 Months

  27-02-2017 06:16
  
  An intentionally set fire damaged a prayer hall at a Tampa-area mosque early Friday, investigators said. The arson occurred at the Islamic Society of New Tampa, Hillsborough County Fire Rescue said in a news release. Fire investigators responded at around …
  
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• 4 trends by peril for home insurers to know

  27-02-2017 06:01
  
  When insurers understand the effects of peril-related trends on loss costs, they can better manage risk and set rates.
  
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• Jury Awards $5M to Man Injured in 2013 Michigan Food Truck Blast

  27-02-2017 02:20
  
  A jury has awarded $5 million to a man who was injured during a food truck explosion at a northern Michigan festival. The Traverse City Record-Eagle reports Gary Leonard was burned on nearly half his body following the June 8, …
  
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• 18 Kansas Counties Hit by Ice Storm in January to Get Federal Aid

  27-02-2017 02:19
  
  Eighteen Kansas counties affected by a severe ice storm in January will receive federal disaster aid. The Kansas Adjutant General’s office announced that President Donald Trump has granted Gov. Sam Brownback’s request for the disaster declaration. The 18 counties were …
  
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