Insurance news

• Lloyds Chooses Brussels For EU Insurance Base - Nasdaq

  30-03-2017 22:44 via nasdaq.com
  
  Lloyds Chooses Brussels For EU Insurance Base
  Nasdaq
  (RTTNews.com) - Insurance giant Lloyds Banking Group has selected Brussels as the site for its subsidiary in mainland Europe that will help it maintain access to the European Union even after Brexit. The decision was announced a day after British Prime ...and more »
  
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• Personal Auto Rate Hikes Not Keeping Up with Losses: Fitch

  30-03-2017 20:00
  
  U.S. personal auto underwriters increased premium rates “significantly” in 2016. But here’s the thing: it wasn’t enough. Loss trends are still outpacing rate changes. Also, the U.S. P/C industry statutory combined ratio will likely hit 108 in the coming months, …
  
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• To fix insurance, tax it - Portsmouth Daily Times

  30-03-2017 19:30 via portsmouth-dailytimes.com
  To fix insurance, tax it
  Portsmouth Daily Times
  A World War II-era mistake distorted the U.S. health insurance system. Reformers tried to fix the problem with patchwork solutions until Obamacare dumped yet another layer of misguided policy onto what was already a mess. Now the tangle is so ...and more »
  
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• NAR: Trouble ahead as National Flood Insurance Program expiration date nears - HousingWire

  30-03-2017 19:10 via housingwire.com
  
  HousingWire
  NAR: Trouble ahead as National Flood Insurance Program expiration date nears
  HousingWire
  The National Flood Insurance Program is set to expire six months from Thursday on Sept. 30, 2017, prompting the National Association of Realtors to try to bring awareness to the expiration and its consequences: a disruption in closing loans. NAR noted ...and more »
  
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• 3 Storm Chasers Die in West Texas Crash

  30-03-2017 18:21
  
  Storms that bore down on Southern Plains states brought powerful winds that upended a tractor-trailer on an Oklahoma interstate, killing the driver, while three storm chasers died in a collision as they raced toward a tornado-warned storm in West Texas, …
  
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• Only one living creature leads to more insurance claims than bedbugs - MarketWatch

  30-03-2017 18:19 via marketwatch.com
  
  MarketWatch
  Only one living creature leads to more insurance claims than bedbugs
  MarketWatch
  Bedbug bites and infestation were the second highest animal-related cause of liability loss (21%), according to a new report on liabilities by Munich, Germany-based insurance firm Allianz AZSEY, -0.30% , following deer incidents (such as vehicle ...and more »
  
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• 41 of the 50 counties where insurance rates rose the most since 2012 voted for Trump - Washington Post

  30-03-2017 18:09 via washingtonpost.com
  
  Washington Post
  41 of the 50 counties where insurance rates rose the most since 2012 voted for Trump
  Washington Post
  In late 2013, then-Senate Majority Leader Harry M. Reid put into words one of the tacit assumptions that powered Democratic support for the Affordable Care Act: It would help Democratic senators at the polls the following year. “I think it's going to ...and more »
  
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• Insurance Trade Group: Illinois Workers’ Comp Bill Unnecessary, ‘Burdensome’

  30-03-2017 18:04
  
  A national trade association representing property/casualty insurers has come out against a proposed bill in Illinois that will create what group says are “burdensome and duplicative workers’ compensation regulations.” The synopsis of Illinois House Bill 2645 states that the bill …
  
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• Lloyd’s of London chooses Brussels for post-Brexit EU hub

  30-03-2017 17:55
  
  Lloyd’s of London, the insurance market founded in the British capital in 1688, plans to open a European Union hub in Brussels following the U.K. vote to leave the bloc.
  
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• Texas Businesses Divided on High-Priority Insurance Bill - Insurance Journal

  30-03-2017 17:49 via insurancejournal.com
  
  Texas Businesses Divided on High-Priority Insurance Bill
  Insurance Journal
  Weeks after major business interests blasted legislation that would make it harder for property owners to sue insurance companies over weather-related damages, other high-profile business interests are lining up in support of the bill. Texans for ...
  
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• Texas Businesses Divided on High-Priority Insurance Bill

  30-03-2017 17:49
  
  This article originally appeared in the Texas Tribune. Weeks after major business interests blasted legislation that would make it harder for property owners to sue insurance companies over weather-related damages, other high-profile business interests are lining up in support of …
  
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• Credit Card ‘Skimming’ Devices Found at Louisiana Gas Stations

  30-03-2017 17:46
  
  Fifteen credit card “skimming” devices have been found on gasoline pumps in different parts of Louisiana in the past month, state Secretary of Agriculture Mike Strain said. The devices are used by thieves to steal credit card information from motorists. …
  
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• Michigan Senate OKs Bill Authorizing Theft Fees on Commercial Trucks

  30-03-2017 17:44
  
  Michigan state senators have approved legislation that could allow the Automobile Theft Prevention Authority to assess small fees on commercial vehicles, not just private passenger vehicles. Under current law, auto insurers pay $1 a year per insured car. State Attorney …
  
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• RLI Promotes McLaughlin to VP, Chief Claim Counsel; Casey to Retire

  30-03-2017 17:42
  
  Peoria, Ill.-based specialty insurer RLI Corp. is promoting Betsy McLaughlin to vice president, chief claim counsel, effective April 1. McLaughlin is assuming the responsibilities of Brian J. Casey, retires on March 31. Casey will continue to serve in an advisory …
  
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• Study: 65-Percent Of Massachusetts Employers Offer Health Insurance - CBS Boston / WBZ

  30-03-2017 17:13 via boston.cbslocal.com
  
  CBS Boston / WBZ
  Study: 65-Percent Of Massachusetts Employers Offer Health Insurance
  CBS Boston / WBZ
  BOSTON (AP) — A new report finds that nearly two-thirds of Massachusetts employers offer health insurance to their workers, a higher percentage than the U.S. as a whole. But the Center for Health Information and Analysis also notes in its annual ...
  Mass. health insurance take-up rate lower than national averageMassLive.comall 5 news articles »
  
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• Insurance company lays off 30 workers in Sioux Falls - The Daily Progress

  30-03-2017 16:55 via dailyprogress.com
  
  Insurance company lays off 30 workers in Sioux Falls
  The Daily Progress
  SIOUX FALLS, S.D. (AP) — About 30 Esurance employees in Sioux Falls have lost their jobs as part of cuts within the insurance company. The Argus Leader reports (http://argusne.ws/2ocmfH0 ) that Esurance cut 100 jobs Tuesday, mostly in Sioux Falls and ...and more »
  
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• Volkswagen Reaches Another Diesel Claims Settlement with 10 States for $157 Million

  30-03-2017 16:42
  
  Volkswagen AG said Thursday it has agreed to settle environmental claims from 10 U.S. states over its excess diesel emissions for $157.45 million as the world’s largest automaker looks to move past the scandal. The German automaker settlement covers states …
  
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• Servicemembers Group Life Insurance Program Receives Online Portal - Department of Defense

  30-03-2017 16:37 via defense.gov
  
  Department of Defense
  Servicemembers Group Life Insurance Program Receives Online Portal
  Department of Defense
  WASHINGTON, March 30, 2017 — The Veterans Affairs and Defense departments are introducing to service members who have Servicemembers Group Life Insurance an online enrollment system called the SGLI On-line Enrollment System that enables ...and more »
  
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• Lack of Markings Caused 2016 Fatal California Bus Crash, Report Shows

  30-03-2017 16:27
  
  Federal investigators say inadequate highway markings caused a fatal Greyhound bus crash in California last year that killed two people and injured 13 others, including the driver. The National Transportation Safety Board said in a report Tuesday that the lack …
  
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• The Similarities Between 2 Deadly Oakland Fires Are Striking

  30-03-2017 16:20
  
  The similarities between two deadly Oakland, Calif. fires that occurred nearly four months apart are striking: Each involved a dangerously dilapidated building with an absentee landlord and renters desperate for affordable housing in the expensive San Francisco Bay Area. The …
  
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• The Hartford Names Tooker as Head of Middle Market Segment

  30-03-2017 16:19
  
  The Hartford has named A. Morris “Mo” Tooker, currently chief underwriting officer, as head of its Middle Market segment. Tooker remains chief underwriting officer for the company’s property/casualty businesses and continues to report to Doug Elliot, president of The Hartford. …
  
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• California City Was Warned About Flood But Failed To Act, Officials Say

  30-03-2017 16:16
  
  Water officials say authorities in San Jose, Calif.  received several warnings that flooding was imminent but failed to evacuate thousands of residents who were trapped in their homes after a creek broke its banks. John Varela, board chairman of the …
  
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• XL Catlin Adds Marlane to Its Environmental Business in California

  30-03-2017 16:08
  
  XL Catlin’s environmental insurance business has appointed Denali Marlane as its Western regional underwriting manager in San Francisco. Marlane will manage XL Catlin’s environmental underwriting operations. She comes from AIG, where she most recently was a claims sales leader. XL …
  
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• Delmarva Petroleum Worker in Delaware Seriously Hurt in Explosion

  30-03-2017 15:33
  
  A worker at Delmarva Petroleum in Lincoln, Del., nearly died after fire from a chop saw ignited an explosion. The Delaware State Fire Marshal’s Office tells local media that the explosion happened shortly after 1 p.m. Tuesday as the 21-year-old …
  
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• First Domestic Run-Off Insurance Carrier Granted License by Rhode Island - Insurance Journal

  30-03-2017 15:15 via insurancejournal.com
  
  First Domestic Run-Off Insurance Carrier Granted License by Rhode Island
  Insurance Journal
  ProTucket Insurance Company has become the first Rhode Island domestic insurer to be formed specifically for providing run-off portfolio transfer solutions. The move has been made possible under new state legislation which will allow companies to ...
  
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• First Domestic Run-Off Insurance Carrier Granted License by Rhode Island

  30-03-2017 15:15
  
  ProTucket Insurance Company has become the first Rhode Island domestic insurer to be formed specifically for providing run-off portfolio transfer solutions. The move has been made possible under new state legislation which will allow companies to transfer their insurance business …
  
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• MassMutual Southern and Northern New England Merge with CFG

  30-03-2017 15:07
  
  MassMutual Southern New England in Warwick, R.I., and MassMutual Northern New England in Bedford, N.H., have merged with Commonwealth Financial Group (CFG), a Boston, Mass.-based comprehensive financial planning firm. CFG, a general agency of Massachusetts Mutual Life Insurance Company, was …
  
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• Exxon Dealt a Blow as Texas Judge Sends Climate Suit to New York

  30-03-2017 14:51
  
  Exxon Mobil Corp.’s attempt to derail a multistate fraud probe into whether the company fully disclosed to investors the financial risks of climate change was dealt a major blow after a Texas judge moved the case from its home turf …
  
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• Bedbug and Peacock-Related Insurance Claims Are Booming - Fortune

  30-03-2017 14:44 via fortune.com
  
  Fortune
  Bedbug and Peacock-Related Insurance Claims Are Booming
  Fortune
  Bedbugs in hotel rooms and aggressive peacocks are some of the creatures behind an uptick in animal-related insurance claims filed by U.S. businesses, according to a study published on Thursday by insurer Allianz SE (azsey). U.S. claims involving ...and more »
  
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• Daily Digest: Insurance and the environment - Minnesota Public Radio News (blog)

  30-03-2017 14:02 via blogs.mprnews.org
  
  Daily Digest: Insurance and the environment
  Minnesota Public Radio News (blog)
  1. Minnesota lawmakers have adopted a plan to try to stabilize the state's individual health insurance market, but it's unclear whether Gov. Mark Dayton will sign it. The measure, called “reinsurance,” would spend $542 million in state money over two ...and more »
  
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• XL Catlin Taps SCOR’s Ennadifi as Senior U/W, Structured Risk Solutions

  30-03-2017 13:53
  
  XL Catlin’s insurance operations announced the appointment of Isa Ennadifi as senior underwriter, Structured Risk Solutions (SRS). She is based in London. The SRS team is a global underwriting unit that provides XL Catlin’s clients with customized solutions for large …
  
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• Heist of $81M from Bangladesh Bank Blamed on ‘State-Sponsored Attack’

  30-03-2017 13:45
  
  The heist of $81 million from the Bangladesh central bank’s account at the New York Federal Reserve last year was “state-sponsored,” an FBI officer in the Philippines, who has been involved in the investigations, said on Wednesday. Lamont Siller, the …
  
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• Bedbugs, Peacocks Among Animal Insurance Claims by Businesses

  30-03-2017 12:51
  
  Bedbugs in hotel rooms and aggressive peacocks are some of the creatures behind an uptick in animal-related insurance claims filed by U.S. businesses, according to a study published on Thursday by insurer Allianz SE . U.S. claims involving bedbugs increased 50 percent …
  
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• Bedbugs Lead Animal Insurance Claims by Businesses

  30-03-2017 12:51
  
  Bedbugs in hotel rooms and aggressive peacocks are some of the creatures behind an uptick in animal-related insurance claims filed by U.S. businesses, according to a study published on Thursday by insurer Allianz SE . U.S. claims involving bedbugs increased 50 percent …
  
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• AIG Enhances Motor Fleet Claims Service, Harnessing Cloud-Based Technology 

  30-03-2017 12:46
  
  AIG UK announced it has entered into a partnership with VUEcloud Ltd., a UK software technology provider to the commercial motor industry, to provide an enhanced claims service to motor fleet customers by harnessing cloud-based technology. The new service, powered …
  
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• Want to reduce lost time claims? It pays to be nice

  30-03-2017 12:15
  
  Training helps supervisors & employees “connect” on workers’ comp claims.
  
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• Superyacht Specialist Yachtpod to Underwrite on Castel’s MGA Platform

  30-03-2017 12:04
  
  Yachtpod Risk Partners has launched as an underwriting cell on the Castel Underwriting Agencies Ltd.’s MGA formation platform to offer dedicated superyacht insurance on a worldwide basis. Yachtpod specializes in providing a “one-stop” shop for superyacht owners, captains and managers …
  
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• More Virginians have health insurance, data show - Inside NoVA

  30-03-2017 12:01 via insidenova.com
  
  Inside NoVA
  More Virginians have health insurance, data show
  Inside NoVA
  The percentage of Virginians without health insurance fell by 2 percentage points in 2015, according to data released Tuesday by the U.S. Census Bureau. All but two localities in Virginia saw a drop in the number of uninsured residents. The uninsured ...and more »
  
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• N.Y. state to P&C insurance companies: Submit disaster response & recovery plans

  30-03-2017 12:00
  
  N.Y. state issues deadline to P&C insurers to submit disaster response and recovery plans and business continuity plans and to respond to online questionnaires.
  
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• Insurance agents need specific notice when homeowners' property use changes

  30-03-2017 12:00
  
  A New York court has ruled that an insured’s 'passing comment' to his insurance agent that he might rent out his home when he moved to Ohio was insufficient to put the insurer on notice of a change in the property’s use.
  
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• Brussels Hopes to Lure Other Finance Firms After Its Success with Lloyd’s

  30-03-2017 11:48
  
  Brussels expects to lure other financial players after convincing Lloyd’s of London, the world’s largest specialty insurance market, to make the city its post-Brexit European hub. While Lloyd’s choice on Thursday surprised some, lower rental prices and its proximity to …
  
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• Uber crash shows human traits in self-driving software

  30-03-2017 11:30
  
  A recent crash involving an Uber driverless car suggests autonomous software sometimes takes the same risks as the humans it may one day replace.
  
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