Insurance news

• Mentor-Driven Global Insurance Accelerator Is Enjoying its Own Growth-Spurt

  09-03-2017 21:44
  
  A three-year-old Des Moines, Iowa-based business startup accelerator focused solely on the global insurance industry has developed into a streamlined organization with more applicants, more investors and more mentors than in past years, its managing director says. “We’ve matured as …
  
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• Would Someone Please Explain to Paul Ryan How This "Insurance" Stuff Works? - TheStranger.com

  09-03-2017 19:36
  
  TheStranger.com
  Would Someone Please Explain to Paul Ryan How This "Insurance" Stuff Works?
  TheStranger.com
  Ryan: The whole idea of Obamacare is...the people who are healthy pay for the...sick. It's not working, & that's why it's in a death spiral pic.twitter.com/ztTXrn7bpH. — David Mack (@davidmackau) March 9, 2017. Dear Paul,. Car insurance premiums paid ...and more »
  
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• Keenan & Associates in California Inks Deal to Join AssuredPartners

  09-03-2017 19:32
  
  Torrance, Calif.-based Keenan & Associates has entered into an agreement to join AssuredPartners Inc. Terms of the deal were not disclosed. Keenan’s 700-plus employees will continue operations under the current leadership of President and CEO Sean Smith. Smith and his …
  
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• SECURA Insurance Promotes Arnold, Wicinsky

  09-03-2017 18:50
  
  Appleton, Wisconsin-based SECURA Insurance has promoted Marty Arnold to senior vice president and chief underwriting officer, and Garth Wicinsky to senior vice president and chief administrative officer. Arnold joined SECURA in 2000 as chief actuary and added the role of …
  
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• Proposed Oklahoma Bill Would Allow Property Owners to Destroy Drones

  09-03-2017 18:41
  
  Proposed Oklahoma legislation heading to the Senate would exempt property owners from civil action if they destroy drones not regulated by the Federal Aviation Administration. The proposed bill, authored by Republican Sen. Ralph Shortey, passed out of the Senate Judiciary …
  
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• Judge Says Sex Assault Lawsuit Against Baylor University Can Proceed

  09-03-2017 18:34
  
  A lawsuit filed against Baylor University by 10 women alleging they were sexually assaulted while students can proceed, a federal judge ruled on March 7. The women, identified as “Jane Doe” plaintiffs, allege Baylor was indifferent to or ignored claims …
  
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• Understanding and minimizing drone risks

  09-03-2017 18:25
  
  There is little disagreement that the drones can seriously injure or even kill someone. Understanding and minimizing the risk will be key to convincing regulators to expand their permitted uses.
  
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• Louisiana Woman Pleads Guilty in Texas in Opioid Pill Mill Case

  09-03-2017 18:24
  
  Carolina Giselle Berrio, a/k/a “Carolina Slocum Berrio,” “Karrie,” 37, of Lafayette, Louisiana is the latest defendant to plead guilty to being involved in a large opioid “pill mill” operation, according to U.S. Attorney John Parker of the Northern District of …
  
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• Iowa Firefighter Testing Scandal Expands

  09-03-2017 18:16
  
  The testing scandal at Iowa’s fire academy is getting a lot bigger. The Iowa Department of Public Safety announced that 739 more firefighters were improperly issued nationally-recognized certifications despite failing their written exams. In January, the department said that 1,706 …
  
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• Fraud Investigations in Washington Lead to 2 Guilty, 2 Charged

  09-03-2017 18:12
  
  Two people were found guilty of felonies and two others were charged in connection with insurance fraud investigations in Washington by Insurance Commissioner Mike Kreidler’s criminal investigations unit. Alhagie Abdoulie Kanaji, 37, was found guilty of filing a false insurance …
  
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• RepubliCare Will Destroy the Individual Health Insurance Market Completely - Mother Jones

  09-03-2017 18:00
  
  Mother Jones
  RepubliCare Will Destroy the Individual Health Insurance Market Completely
  Mother Jones
  The base may rejoice when they hear that Obamacare has been "repealed" (sort of). But their cries of glee will be drowned out by their wailing when they find that they cannot buy individual insurance at all. That's why I don't understand what ...and more »
  
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• The coming revolution in insurance - The Economist

  09-03-2017 17:31
  The Economist
  The coming revolution in insurance
  The Economist
  IN THE stormy and ever-changing world of global finance, insurance has remained a relatively placid backwater. With the notable exception of AIG, an American insurer bailed out by the taxpayer in 2008, the industry rode out the financial crisis largely ...
  
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• Oregon Woman Sues Airbnb Alleging Discrimination

  09-03-2017 16:43
  
  A Clackamas County, Ore. woman has filed a lawsuit against vacation-rental website Airbnb, saying the site facilitates discrimination against black users. The Oregonian/OregonLive reported that Patricia Harrington has filed a class-action lawsuit accusing Airbnb of violating Oregon’s public accommodation laws. …
  
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• California Fault Could Yield M7.4 Quake, Study Shows

  09-03-2017 16:37
  
  An earthquake fault running from San Diego Bay to Los Angeles is capable of producing a magnitude-7.4 earthquake that could affect some of the region’s most densely populated areas, according to a new study. The study looked at the Newport-Inglewood …
  
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• AIG CEO Peter Hancock to step down after massive loss at insurance giant - USA TODAY

  09-03-2017 16:37
  
  Business Insurance
  AIG CEO Peter Hancock to step down after massive loss at insurance giant
  USA TODAY
  NEW YORK - Three weeks after AIG reported a titanic loss, the person tapped to turn things around at one of the world's largest insurance companies is stepping down. AIG said Thursday that CEO Peter Hancock, appointed less than three years ago, will ...
  Hancock to resign as CEO of AIGBusiness Insuranceall 88 news articles »
  
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• AIG CEO Peter Hancock to step down: What's next?

  09-03-2017 16:18
  
  Peter D. Hancock, AIG’s president and chief executive officer, has announced he is resigning from the titan P&C insurer.
  
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• AIG CEO Hancock to Depart Under Pressure from Icahn, Other Investors

  09-03-2017 15:52
  
  American International Group Inc. Chief Executive Officer Peter Hancock is stepping down after posting four losses in six quarters, results that hurt investors including activists Carl Icahn and John Paulson. Hancock, 58, will remain CEO until a successor is named, …
  
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• New York City Landmarks Art Deco Interiors of Waldorf Astoria

  09-03-2017 15:45
  
  New York City on Tuesday landmarked some lavish public interiors at the Waldorf Astoria to save them as the hotel’s Chinese owners start a renovation that will produce hundreds of private condominiums. Nine members of the Landmarks Preservation Commission voted …
  
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• RPA Insurance Services Hires Two to New Florida Office

  09-03-2017 15:30
  
  RPA Insurance Services, a Parsippany, N.J.-based insurance agency focused on providing business insurance products and services to specialized market segments throughout the U.S., has hired Rick and Jennifer Gross to the company’s newly-formed Boca Raton, Fla., office. They will focus on acquiring …
  
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• What’s Up with Salaries at Insurance Agencies?

  09-03-2017 15:24
  
  Salaries for insurance agency management, owners, principals and producers were up in 2016. Total compensation for support staff also increased, although not by as much as it did the year before. That’s according to Insurance Journal’s 2017 Agency Salary Survey, …
  
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• Sullivan Insurance Group in Massachusetts Hires Amankwah

  09-03-2017 15:19
  
  Sullivan Insurance Group, a Worcester, Mass.-headquartered, full-service insurance and risk management firm providing property and casualty, employee benefits and personal insurance for individuals and businesses, has hired Barbara Amankwah to its personal lines department. Amankwah has previously worked at Commerce, …
  
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• Munich Re Syndicate’s Hoare Elected to Council of Lloyd’s

  09-03-2017 15:09
  
  Dominick Hoare, chief underwriting officer for Munich Re Syndicate Ltd., was elected this week to the position of corporate-external member to the Council of Lloyd’s, which is the body responsible for the supervision of the Lloyd’s market. Hoare represents Munich Re …
  
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• York Acquires Stock of New York’s Northeast Association Management

  09-03-2017 14:59
  
  York Risk Services Group (York), a Parsippany, N.J.-based provider of claims management, managed care, specialized loss adjusting, alternative risk programs, pool administration and other insurance services, has acquired the stock of Latham, N.Y.-based Northeast Association Management Inc. (NEAMI). York Pooling, …
  
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• Brightway Insurance Set to Open First New York Location

  09-03-2017 14:56
  
  Brightway Insurance, a national property/casualty insurance retailer selling through a network of franchised independent agencies throughout the country, is expanding across the U.S. with its first location in New York slated to open next week. Businessman and Brightway Agency owner, …
  
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• Weather Events in US, Australia Cost Insurers $1B+ in February: Aon

  09-03-2017 14:36
  
  Insurers face claims of more than US$1.0 billion as a result of severe weather events in the U.S. and Australia during February, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. The report discussed the …
  
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• Judge Dismisses Shareholder Lawsuit Against Chipotle

  09-03-2017 14:28
  
  Chipotle Mexican Grill Inc. on Wednesday won the dismissal of a lawsuit claiming it defrauded shareholders about its ability to protect customers from at least seven norovirus, E.coli and salmonella outbreaks that erupted in 2015. U.S. District Judge Katherine Polk …
  
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• Hartford’s Swift Re-Elected as AIA Chairman

  09-03-2017 14:21
  
  Christopher J. Swift, chairman and CEO of The Hartford, has been reelected as chairman of the board of directors of the insurer trade group, the American Insurance Association (AIA). Swift joined The Hartford in March 2010 and served as executive …
  
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• WikiLeaks Documents Shows CIA Worried About Connected Vehicle Cybersecurity

  09-03-2017 14:05
  
  WikiLeaks documents showing the U.S. Central Intelligence Agency considered a “mission” against connected car technology underscores auto industry concern that the science behind the next generation of vehicles could be turned against them. Cyber security is considered key to the …
  
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• Challenges with vapor intrusion claims

  09-03-2017 14:00
  
  A new trend in environmental claims is costing insurers big time.
  
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• A Lesson from NPR for insurance agents and brokers

  09-03-2017 13:00
  
  What can insurance agents learn from NPR about how to better communicate with clients?
  
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• Africa’s Disaster Resilience Is Focus of New African Risk Capacity Partnership

  09-03-2017 12:56
  
  The African Risk Capacity (ARC) has teamed up with the African Development Bank (AfDB) to help African nations strengthen their resilience to weather-related risks. The ARC and the AfDB will work together to develop their member states’ understanding of the …
  
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• The secret to client retention

  09-03-2017 12:30
  
  Of course you have to market to your clients. But to what end?
  
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• Alabama Supreme Court Says Suit Against Mobile Shipbuilder Can Continue

  09-03-2017 12:30
  
  The Alabama Supreme Court says workers who claim they were injured by a tool at a shipyard in Mobile can go ahead with their lawsuit against the shipbuilder. The justices on Friday refused to order a lower court to dismiss …
  
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• Family of Snowboarder Sues North Carolina Ski Resort After Fall from Lift

  09-03-2017 12:24
  
  The family of a snowboarder who suffered broken bones and frostbite after falling 30 feet off a ski lift to avoid freezing to death has sued a North Carolina ski resort. The Charlotte Observer reports Robert and Wendy Elliott of Tennessee …
  
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• Markel International Launches Surety Business; Team Leaders Appointed

  09-03-2017 12:14
  
  Markel International, the London-based specialist insurer and Markel Corp. subsidiary, has launched a surety offering, following the appointment Damian Manning to head the new team and David Chandler as senior underwriter. The business will initially focus on opportunities in the …
  
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• Florida’s New ‘Hurricane Hunter’ Base on Schedule for Storm Season

  09-03-2017 12:09
  
  Officials say they’re on schedule to open the new home base for the U.S. government’s “hurricane hunter” aircraft before the Atlantic hurricane season begins. The National Oceanic and Atmospheric Administration’s planes are specially equipped to collect forecasting data as they …
  
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• Top 10 ZIP codes with the highest environmental-hazard risk for homes

  09-03-2017 12:00
  
  Environmental hazards present risk for all homeowners throughout the U.S. Certain areas are well known for the risks they entail, but there are those ZIP codes that still fly under the radar for environmental hazards despite being hot spots.
  
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• UK Government Plans to Trigger Brexit Negotiations in Late March: Sources

  09-03-2017 11:57
  
  Prime Minister Theresa May’s team increasingly expect the U.K. to trigger the start of Brexit talks in late March, according to two British officials and a European Union diplomat. While the end of next week remains an option if May …
  
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• Hiscox Appoints RMS’ Khare as Group Head of Catastrophe Research

  09-03-2017 11:42
  
  Specialist insurer Hiscox has appointed Shree Khare as group head of Catastrophe Research. Khare will lead the research that directly informs Hiscox’s own view of risk and its underwriting strategies for catastrophe perils. In particular, while working across the Hiscox …
  
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• Trump University Settlement May Not Be Done Deal After All

  09-03-2017 07:00
  
  The private lawyers who reached a proposed $25 million settlement last November with then President-elect Donald Trump, resolving class action claims that Trump University real estate seminars were a fraud, did an objectively fantastic job for their clients. Over the …
  
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• Independent agents' most highly rated insurers in 13 key P&C markets

  09-03-2017 06:01
  
  What are independent agents' favorite carriers with which to do business in a variety of markets, from Business Interruption to Workers' Comp?
  
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• Maximum Adds Christensen as Property/Casualty Producer in Omaha

  09-03-2017 03:40
  
  Maximum, an independent, Chicago-based excess and surplus lines wholesaler, has added Bria Christensen as a producer in its Omaha, Neb., office. Christensen most recently held a wholesale brokerage position at Ascension Risk Services. Getting her start in North Dakota before …
  
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