Insurance news

• Lloyd’s of … Brussels?

  04-04-2017 20:40
  
  Lloyd’s intends to be ready to write business from a new European insurance company for the January 1, 2019 renewal season, subject to regulatory approval.
  
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• Losses from Colorado Mine Spill Could Be Far Less than Feared

  04-04-2017 19:21
  
  Economic damage from a Colorado mine waste spill caused by the U.S. Environmental Protection Agency may be far less than originally feared after attorneys drastically reduced some of the larger claims, The Associated Press has learned. Farmers, business owners, residents …
  
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• Online Tool Locates California Agents, Brokers Who Speak A Foreign Language

  04-04-2017 19:18
  
  The California Department of Insurance has launched an online language locator tool to enable consumers to find insurance agents and brokers in their area who speak their language. The tool gives access to information on more than 11,000 agents and …
  
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• 4 diversity challenges stifling insurance innovation

  04-04-2017 18:45
  
  Our industry is late to the idea that diversity, in all forms, makes for good business.
  
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• Iowa Legislative Session: War on Workers or Tough Budget Choices?

  04-04-2017 18:29
  
  With Republicans in control of state government, Iowa union leaders approached this legislative session with apprehension, but say they never envisioned lawmakers would approve such dramatic changes to laws governing worker rights and pay. GOP legislators, with support from Republican …
  
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• Bills Still Active in Iowa: Medical Malpractice Caps, Limits on 911 Call Access

  04-04-2017 18:23
  
  Legislation capping recoveries in medical malpractice awards and a bill that would limit public access to 911 call information are still alive the Iowa legislature. Medical Malpractice Caps The legislation would limit financial recoveries for pain and suffering in medical malpractice …
  
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• Louisiana’s Plan to Spend $1.2B in Federal Flood Aid Approved

  04-04-2017 18:19
  
  Louisiana has received federal approval for its plans to spend $1.2 billion in flood recovery aid allocated by Congress, a key step before the money can flow to homeowners and others still struggling to rebuild from last year’s devastation. The …
  
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• Storms Kill 2 in Louisiana, Move East

  04-04-2017 18:17
  
  Powerful storms that killed two in Louisiana took aim at Alabama and other parts of the Southeast on April 3, bringing strong winds and heavy rains to the region. A tornado flipped a mobile home on April 2 in Bruex …
  
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• Brokerslink Launches Global Construction Practice with 2 Appointments

  04-04-2017 18:17
  
  Brokerslink announced the launch of an expanded Global Construction Practice with the appointments of Brian Schofield and Edouard Marron as co-practice leaders. They take up these roles with immediate effect. The new Global Construction Practice will provide risk management, technical, …
  
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• Report: Traffic Deaths in L.A. Jumped Sharply In 2016

  04-04-2017 17:27
  
  A report finds traffic deaths in Los Angeles jumped sharply despite a high-profile campaign by city leaders to eliminate fatal crashes. The Los Angeles Times reported that 260 people were killed in traffic crashes on city streets in 2016. That’s …
  
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• Ascension Acquires Yosemite Pacific’s California Operations

  04-04-2017 17:25
  
  Walnut Creek, Calif.-based Ascension Insurance Services Inc., dba Pan American Insurance Agency Inc., entered into an agreement on March 31 with Ag Providers Insurance Services LLC, dba Yosemite Pacific Insurance Services LLC, to buy the company’s retail operations in California. …
  
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• California State Fund 2016 Report Shows 128K Policies Written

  04-04-2017 17:11
  
  The California State Compensation Insurance Fund’s 2016 annual report shows a net income of $192 million in 2016. Other important highlights from the newly released report include: 128,000 policies written in 2016. Earned net premiums of $1.5 billion. Policyholders’ surplus …
  
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• O’Halleran to Retire from Aon After 37 Years

  04-04-2017 16:04
  
  Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, has today announced that Michael O’Halleran is set to retire from the business after 37 years of service. From his founding role as leader of Aon Re at …
  
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• Chubb Returns Stolen Norman Rockwell Painting 40 Years After Theft

  04-04-2017 15:53
  
  More than 40 years after the theft of Norman Rockwell’s Boy Asleep with Hoe – also known as Lazy Bones or Taking a Break – the painting has been returned to the family of its original owners following a ceremony with Chubb and the FBI in Philadelphia, Penn. …
  
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• Liberty Mutual’s Luce, BlueSky’s Hespe Join QBE North America Commercial Operation

  04-04-2017 15:22
  
  QBE North America announced two executive appointments in the Property & Casualty business. Jamie Luce will lead the Commercial Insurance business as senior vice president. He will oversee all of the QBE North America commercial business. Luce built middle market business over the past 14 …
  
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• NYC Subway Trash Bin Ban Yields to Better Cleaning Methods

  04-04-2017 15:18
  
  Faced with too much trash in one of the world’s biggest – and arguably dirtiest – subway systems, New York transit officials tried an unusual social experiment. They removed garbage bins from 39 out of the more than 400 stations, …
  
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• Cook Maran Set to Acquire New York Insurer Gundermann

  04-04-2017 15:10
  
  Cook Maran & Associates (Cook Maran), one of New York and New Jersey’s largest insurance brokers, will acquire Gundermann & Gundermann (Gundermann), a third-generation, family-owned company that’s grown into a top 25 New York insurer since it was founded in …
  
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• Wilson Named National Accounts Director for Big ‘I’ Professional Liability Program

  04-04-2017 15:07
  
  Marianna Wilson has been hired to serve as professional liability director for national accounts for the Big ‘I’ Advantage program of the Independent Insurance Agents and Brokers of America. The organization created the position to service and expand the program, …
  
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• Paragon Insurance Holdings in Connecticut Hires Faust as CFO

  04-04-2017 15:04
  
  Paragon Insurance Holdings LLC (Paragon), an Avon, Conn.-based multi-line specialty program manager, has added Justin Faust to the Paragon executive management team as Chief Financial Officer. “Justin will lead Paragon’s efforts to enhance its rapid organic expansion through the acquisition …
  
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• Virginia Bureau Names Blauvelt Deputy Commissioner of Life and Health Division

  04-04-2017 14:49
  
  The State Corporation Commission’s Bureau of Insurance (Bureau) in Virginia has named Julie S. Blauvelt deputy commissioner of its Life and Health Division. In this capacity, she oversees a staff that reviews insurance policy rates and forms, performs market conduct …
  
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• AIG Chairman Says Board Agrees with Outgoing CEO Hancock’s Turnaround Plan

  04-04-2017 14:39
  
  American International Group Inc.’s chairman reaffirmed support for the course charted by Peter Hancock, even after the CEO announced he was stepping down because of insufficient investor backing. Chairman Doug Steenland, in his annual letter Monday, said that the board …
  
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• Digital transformation: 8 best practices for insurers

  04-04-2017 13:30
  
  Digital transformation for an insurer is a multiyear, group endeavor.
  
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• Mercedes’ Parent, Daimler, Partners with Bosch to Develop ‘Robo-Taxis’

  04-04-2017 12:45
  
  Mercedes-Benz parent Daimler and supplier Robert Bosch are teaming up to develop self-driving cars in an alliance primarily aimed at accelerating the production of “robo-taxis.” The pact between the world’s largest maker of premium cars and the world’s largest automotive …
  
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• Tips for insurance agents & brokers on getting social using LinkedIn

  04-04-2017 12:00
  
  LinkedIn can be an agent and broker's best friend. Are you using it correctly?
  
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• PERILS Releases Updated Exposure Database

  04-04-2017 11:23
  
  PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released the 2017 update of the PERILS Industry Exposure Database (IED). The updated database is composed of more than 200,000 individual data entries defining property sums insured …
  
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• New Digital Evidence Emerges of N. Korea Connection to Bangladesh Bank Heist

  04-04-2017 10:22
  
  Cyber security firm Kaspersky Lab on Monday said it had obtained digital evidence that bolsters suspicions by some researchers that North Korea was involved in last year’s $81 million cyber heist of the Bangladesh central bank’s account at the Federal Reserve Bank of …
  
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• USDA OKs Emergency Loans for Oklahoma Ranchers Affected by Wildfires

  04-04-2017 07:00
  
  Gov. Mary Fallin says the U.S. Department of Agriculture has approved emergency loans for livestock producers in six Oklahoma counties affected by recent wildfires. The fires in early March burned more than 1,200 square miles in northwest Oklahoma and southwest …
  
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• US Supreme Court to Hear If Arab Bank Is Financially Liable for Terrorist Attacks

  04-04-2017 07:00
  
  The U.S. Supreme Court on Monday agreed to consider reviving litigation seeking to hold Arab Bank Plc financially liable for militant attacks in Israel and the Palestinian territories that accused the Jordan-based bank of being the “paymaster” to militant groups. …
  
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• UBS Analysis: Poor Morale Could Hurt AIG Turnaround, Hiring

  04-04-2017 07:00
  
  A morale crisis at American International Group Inc. could prevent the U.S. insurance company from keeping and hiring the talent it needs to propel it through its financial turnaround, UBS said in an analysis on Monday. AIG ranked last through March 21 …
  
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• OSHA Orders Wells Fargo to Rehire Whistleblower, Pay $5.4 Million

  04-04-2017 07:00
  
  The federal government has ordered Wells Fargo to reinstate a former bank manager who lost his job after reporting suspected fraudulent behavior at the bank. The Labor Department’s Occupational Safety and Health Administration (OSHA) announced on Monday that the bank must rehire …
  
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• Kentucky Parents Sue Samurai Sword Maker Over Son’s Injury

  04-04-2017 06:54
  
  The parents of a Kentucky teenager say the steel blade of a samurai sword broke off its handle and flew in the air as he played with friends, piercing the boy’s forehead and leaving him in a coma for weeks. …
  
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• New QBE Program Targets Worker Safety in Transportation Market

  04-04-2017 06:42
  
  QBE North America, an operating division of global insurer QBE Insurance Group Limited, has formed a strategic program alliance with High Point Underwriters and Midwestern Insurance Alliance to offer a national workers’ compensation and occupational accident insurance program for the …
  
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• Low-lying North Carolina Town Says Dike Saved Homes From Matthew Floods

  04-04-2017 06:34
  
  Residents of a low-lying coastal North Carolina town say a long-term engineering project did a good job protecting their homes and nearby rich farmland from Hurricane Matthew last fall. The Virginian-Pilot of Norfolk, Virginia, reports the town of Swan Quarter …
  
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• K2 Insurance Services Acquires Georgia-Based Star & Shield Insurance

  04-04-2017 06:21
  
  San Diego-based K2 Insurance Services has acquired Star & Shield Insurance, an affinity distributor of insurance products to members of the public safety community and their families located in Alpharetta, Ga. Star & Shield offers insurance products through multiple insurers …
  
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• Falling Rock Kills Kentucky Coal Miner; State’s Second Mining Death of 2017

  04-04-2017 06:08
  
  A miner killed by falling rock at a Kentucky coal mine early Thursday is the state’s second mining fatality this year, matching the total from all of 2016, authorities said. Joseph W. Partin died when a 15-foot-tall section of exposed …
  
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• Is your vehicle a future collectible?

  04-04-2017 06:01
  
  Today’s everyday cars could have a very bright future worth millions.
  
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• Smith Joins Ohio Agents Group as Company Partners Manager

  04-04-2017 02:47
  
  The Ohio Insurance Agents Association (OIA) has added Megan Smith as company partners manager. With a passion for the independent agency system, Smith is excited to foster partnerships with OIA’s carrier partners to help Ohio’s independent agents become more successful …
  
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• Home Depot Must Face Negligence Suit for Employee’s Murder: Court

  04-04-2017 02:41
  
  A federal appeals court on Friday said Home Depot Inc. must face a lawsuit claiming that the retailer’s negligence led to a supervisor’s murdering a pregnant employee by strangulation and raping her corpse. Reversing a lower court ruling, the 7th …
  
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