Insurance news

• California Congressmen Introduce Earthquake Mitigation Tax Incentives

  22-03-2017 21:32
  
  A pair of Congressmen from California today introduced the Earthquake Mitigation Incentive and Tax Parity Act of 2017 to exclude incentives for residential seismic retrofits from federal taxation. The act was introduced by Reps. Mike Thompson, D-St. Helena, and Paul …
  
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• Washington Commissioner Supporting Strict Distracted Driving Bills

  22-03-2017 20:26
  
  Washington Insurance Commissioner Mike Kreidler is advocating for two distracted driving bills that the state Legislature is considering. House Bill 1371, sponsored by Rep. Jessyn Farrell, and Senate Bill 5289, sponsored by Sen. Ann Rivers, would make the law about …
  
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• Supreme Court Rules Garment Design Elements Copyrightable

  22-03-2017 20:24
  
  The U.S. Supreme Court on Wednesday ruled that basic elements in cheerleader uniform designs merit copyright protection, handing a victory to the top American maker of the garments in a decision with serious implications for the fashion industry. The justices ruled 6-2 to …
  
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• California Workers’ Comp Report Looks at Spinal Fusion Claims

  22-03-2017 20:18
  
  A study on the use of spinal fusion surgeries in California workers’ compensation shows that in 60 percent of spinal fusion claims the initial report of injury was for a sprain or strain, a majority of the fusions occurred within …
  
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• Bickmore in California Names Sharma Finance Manager

  22-03-2017 20:06
  
  Sacramento, Calif.-based Bickmore has named Ritesh Sharma a manager in its finance and accounting services department. Sharma will act as the finance manager for three joint power authorities. He will direct accounting and financial activities and serve as the primary …
  
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• Duck Creek Technologies inks deal to provide billing, policy software to GEICO

  22-03-2017 18:23
  
  Duck Creek Technologies and GEICO on Monday publicly announced their new partnership, a move the insurer said will improve its online customer experience while streamlining policy administration — and that Duck Creek acknowledged as a major business achievement.
  
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• Duck Creek policy and billing software support GEICO modernization initiative

  22-03-2017 18:23
  
  Duck Creek Technologies and GEICO on Tuesday publicly announced their new partnership, a move the insurer said will improve its online customer experience while streamlining policy administration.
  
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• Insurance Information Institute Names Palmer as Head of Communications

  22-03-2017 17:47
  
  Kristin S. Palmer has been named senior vice president and head of Communications at the Insurance Information Institute (I.I.I.). Palmer was previously vice president, Media Relations, for the AARP, a nonprofit organization for retirees with nearly 38 million members. During her time at AARP, …
  
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• 10 More Facts on How Employee Substance Misuse Impacts Businesses

  22-03-2017 16:45
  
  More than 70 percent  of U.S. employers are feeling the direct impact of prescription drug misuse in their workplaces, according to a recent survey by the National Safety Council. The survey also found that although 71 percent of employers agree that prescription …
  
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• Fatal Allergic Reaction Leads to Suit Against Louisiana Doughnut Shop

  22-03-2017 16:31
  
  A Georgia man is suing a Louisiana doughnut shop over claims that his father died of an allergic reaction after eating an apple fritter. The son’s attorneys on filed a wrongful death lawsuit against Dynasty Donuts LLC, a Lafayette company …
  
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• T-Mobile 911 Disruptions in Dallas Offer Cautionary Tale

  22-03-2017 16:28
  
  Dallas has been experiencing disruptions in its 911 service that began in October and at one point last week resulted in 360 calls being placed on hold. More dispatchers have been assigned to field 911 calls and technological glitches have …
  
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• California City Seeks to Improve Safety by Scaning License Plates

  22-03-2017 16:17
  
  A California city plans to scan the license plates of all incoming cars by placing stationary cameras at key intersections in a bid to boost public safety. The seaside city of Carlsbad will spend $1 million to add cameras at …
  
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• 9 Homes Destroyed in Oklahoma Wildfire

  22-03-2017 16:17
  
  Fire officials are suggesting a blaze that has destroyed at least nine homes in eastern Oklahoma and forced the evacuation of more than 100 others may have been intentionally set. Highway 9 Volunteer Fire Department chief Danny Choate told KOKI-TV …
  
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• Overland Park, Kansas, Apartment Building Fire Ignites Houses

  22-03-2017 16:14
  
  A huge fire at an apartment building under construction in suburban Kansas City has sparked fires at several homes blocks away. The eight-alarm fire broke out about 3:30 p.m. on March 20 at the multimillion-dollar CityPlace development in Overland Park, …
  
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• Former County Commissioner in Oregon Counter Sues in Marijuana Case

  22-03-2017 16:14
  
  A former Jackson County commissioner accused in a lawsuit of bilking investors to finance a pot shop has filed a counterclaim. Doug Breidenthal filed the lawsuit contending his professional reputation has been damaged, the Mail Tribune reported. “As a result …
  
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• Travel Businesses in California’s Big Sur Community Reeling After Bridge Closure

  22-03-2017 16:10
  
  Almost all the hotels, restaurants and state parks cut off when a bridge on the Central California coast crumbled last month remain closed, but Kurt Mayer chose to keep his deli and taproom open — even though it’s costing him. …
  
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• Illinois Places Public Service Insurance Co. into Rehabilitation

  22-03-2017 16:09
  
  The Illinois Department of Insurance reported that Public Service Insurance Co. (Public Service) and its parent corporation Public Service Mutual Holding Co. have been placed into rehabilitation. Policies will continue in force and policyholder claims will continue to be paid …
  
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• Pinnacol Issues $50M in Workers’ Comp Dividends to Colorado Employers

  22-03-2017 15:52
  
  Colorado workers’ compensation insurer Pinnacol Assurance is distributing $50 million in dividend checks this month to its policyholders. More than 53,000 employers throughout the state — roughly 94.2 percent of the company’s policyholders — will receive a dividend in recognition …
  
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• Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance

  22-03-2017 15:47
  
  Swiss Re announced that Mike Mitchell, currently head Property Underwriting and Property & Casualty Facultative, Asia, will succeed Edouard Schmid as Swiss Re’s head Property & Specialty Reinsurance, effective July 1, 2017. He will also serve as a member of …
  
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• R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer

  22-03-2017 15:25
  
  Randall & Quilter Investment Holdings Ltd. (R&Q) announced the acquisition of ICDC Ltd., a captive insurer of an American Fortune 500 company, for an undisclosed sum. The name of the former parent of the captive was not released. The company, …
  
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• Supreme Court OK with Delay in Bringing Patent Infringement Suits

  22-03-2017 15:03
  
  A U.S. Supreme Court ruling on Tuesday in a lawsuit over adult diapers will make it more difficult for companies accused of patent infringement to shoot down lawsuits because the plaintiffs waited too long to bring them. In a 7-1 decision, the justices …
  
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• RSA Begins Trading on London Market Placing Platform, PPL

  22-03-2017 14:48
  
  International insurer RSA has begun trading on the London insurance market’s electronic placing platform, PPL (Placing Platform Ltd.), which enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system. RSA’s Profin underwriting team is now …
  
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• Backers of Legal Pot Urge Massachusetts Panel to Hold Off on Changing Law

  22-03-2017 14:40
  
  Backers of legalized recreational marijuana urged Massachusetts legislators Monday to hold off, at least for now, on making any significant changes to a law voters approved in November. The appeal came during the first public hearing held by a special …
  
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• From Fiduciary Rule to Overtime: What to Expect from Trump Labor Nominee Acosta

  22-03-2017 14:29
  
  By the time President Donald Trump’s first nominee for labor secretary withdrew from consideration, there was little doubt where he stood on the big issues facing the department. In contrast, his replacement, Alexander Acosta, heads into his hearing Wednesday with …
  
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• Virginia Governor Signs Bill Giving $1.55M to Exonerated Man

  22-03-2017 14:13
  
  Virginia Gov. Terry McAuliffe has signed a bill to provide $1.55 million to a man who spent more than three decades in prison for a crime he didn’t commit. Keith Allen Harward was released from prison in April 2016 at …
  
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• Technology Being Blamed for Driving Up Massachusetts Car Insurance Rates

  22-03-2017 14:07
  
  Auto insurance rates in Massachusetts are on the rise and technology is to blame. Industry experts tell The Boston Globe that drivers distracted by smartphones are crashing more often and those cars are now more expensive to repair because they’re loaded …
  
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• Thunderstorms Just as Costly to Insurers as Hurricanes: Study

  22-03-2017 13:55
  
  Risk to U.S. property from thunderstorms is as high as from hurricanes, according to new research finding that for the past decade, severe convective storms have been the largest annual aggregated risk peril to the U.S. insurance industry. The average annual …
  
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• Higher Arctic Temperatures Likely to Shift Global Weather in 2017: WMO

  22-03-2017 13:51
  
  Unusually warm weather in the Arctic is helping shift weather patterns this year from North America to the Middle East, after global warming shattered records in 2016, according to the World Meteorological Organization. Rising ocean temperatures that are melting polar …
  
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• Maryland-Based Chesapeake Employers’ Insurance Company Promotes Adelman

  22-03-2017 13:50
  
  Chesapeake Employers’ Insurance Company, a Towson, Md.-based provider of workers’ compensation insurance, has promoted Joan Adelman to vice president of legal services. In her new role, Adelman is responsible for the day-to-day operations of the legal department, including supervision of …
  
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• BHSI Offers Professional Liability, Network Security & Privacy Cover in Canada

  22-03-2017 12:31
  
  Berkshire Hathaway Specialty Insurance (BHSI) introduced its Professional First Professional Liability and Network Security & Privacy Policy and announced it has appointed Geoffrey Kendrick as head of Professional Lines in Canada. BHSI’s new Professional First Professional Liability and Network Security …
  
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• JLT Re Partners with KatRisk to Expand Modeling Capability in Canada

  22-03-2017 12:07
  
  JLT Re, the London-based reinsurance broker and consultancy, has combined forces with flood modeling company, KatRisk, to enhance its flood risk modeling capabilities for clients across Canada. Berkeley, Calif.-based KatRisk’s suite of flood risk modeling tools includes both flood inundation …
  
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• India’s Bank of Baroda Eyes Sale of Insurer, Asset Management Stakes

  22-03-2017 11:45
  
  Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the matter. The Mumbai-based bank is seeking to …
  
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• When does a commercial policy provide insurance coverage for extra expenses?

  22-03-2017 11:00
  
  If your office building is damaged in a fire, or your property is damaged in a severe storm, you may have expenses you didn't plan on. Are you covered?
  
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• The momentum of a shifting insurance industry

  22-03-2017 11:00
  
  The time for plans, preparation, and execution is now — recognizing that the customer is in control.
  
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• Why insurance agency M&A deals fail

  22-03-2017 10:30
  
  There are many factors that go into mergers and acquisitions, beyond the basic issue of price. Here are some of them.
  
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• 13 'no sale' signals to look for with your clients

  22-03-2017 10:30
  
  Salespeople are always looking for buying signals and often miss the warning signs when all is not well.
  
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• How Medical Liability Insurers’ $30 Billion ‘Cushion’ Is Also Barrier to Profit

  22-03-2017 06:00
  
  For all the changes in healthcare over the past 10 years, the principal challenges facing medical professional liability (MPL) insurance remain much the same as they have been since its crisis in the mid-2000s: a high level of capital with …
  
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• Aon Gains Upper Hand in Non-Compete and Poaching Lawsuit vs. Alliant

  22-03-2017 06:00
  
  A legal battle between two insurance brokerages over whether a former employee violated non-compete agreements and poached numerous employees is not over yet but the brokerage bringing the charges has scored key early victories. The lawsuit brought by U.K.-based Aon …
  
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• NTSB Expects Report on Fatal Mississippi Bus Crash Within Weeks

  22-03-2017 05:58
  
  Investigators say a preliminary report on the March 7 train-bus crash in Mississippi that killed four Texas tourists should be ready within three weeks. Biloxi Mayor Andrew “FoFo” Gillich on Friday added a seventh railroad crossing to a list his …
  
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• BSA in Tennessee Promotes Wall To Medical Only-Claims Rep

  22-03-2017 05:26
  
  Brentwood Services Administrators Inc. (BSA), headquartered in Brentwood, Tenn., promoted Courtney Wall in February 2017 to the position of medical only-claims representative in the Brentwood office, according to Jeff Pettus, president and CEO of Brentwood Services Administrators Inc. Wall is …
  
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• CFC Underwriting Launches Cyber Incident Response App

  22-03-2017 05:16
  
  Specialist lines underwriting agency, CFC Underwriting, has launched a cyber incident response application that will allow policyholders to notify a claim with a click of a button and receive specialist support from CFC’s global cyber incident response team. In addition, …
  
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• 10 extreme weather events of 2016

  22-03-2017 05:01
  
  Flooding contributed to much of the country’s disasters.
  
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• South Carolina County Looks to Stem Rising Emergency Vehicle Insurance Costs

  22-03-2017 05:00
  
  Officials in Horry County, South Carolina, are seeking ways to reduce the high costs of insurance and worker’s compensation related to crashes by emergency vehicles. The Sun News of Myrtle Beach reports that there have been nearly 50 vehicle accidents …
  
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• Airbnb at Odds with Miami Mayor Over Homesharing Regulations

  22-03-2017 05:00
  
  Airbnb and other home-sharing platforms face more restrictions in Miami, where the mayor plans for more aggressive enforcement of regulations prohibiting rentals of single-family homes in its residential areas. Amid spring break and days before the annual Ultra electronic music …
  
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• Missouri’s Millennium Brokers Joins Insurance Agency Alliance

  22-03-2017 00:32
  
  Millennium Brokers LLC in Springfield, Mo., has joined Valley Insurance Agency Alliance (VIAA), a network of over 100 independent insurance agencies in Missouri and Illinois. Millennium Brokers is a full-service insurance agency founded in 2016 that specializes in auto, home …
  
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