Insurance news

• Messenger: Insurance company denies cancer therapy while life hangs in the balance - STLtoday.com

  27-04-2017 23:31 via stltoday.com
  
  STLtoday.com
  Messenger: Insurance company denies cancer therapy while life hangs in the balance
  STLtoday.com
  The scars. The port. The dry mouth. Forcing down an awful-tasting Boost drink to avoid getting a feeding tube. Haffner, a 58-year-old lawyer who lives in south St. Louis County, survived head-and-neck cancer in 2004. Mine was more recent. On the day we ...
  
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• Mayor Mike Duggan tackles sky-high auto insurance rates - WDIV Detroit

  27-04-2017 23:01 via clickondetroit.com
  
  WDIV Detroit
  Mayor Mike Duggan tackles sky-high auto insurance rates
  WDIV Detroit
  DETROIT - It's no secret that Michigan residents, especially Detroiters, pay high rates for auto insurance. A new effort is brewing in Lansing that gives many a reason to believe that a new idea can succeed where so many others have failed.
  
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• Report: Climate Change Could Cause Mass U.S. Migration

  27-04-2017 22:34
  
  Migration to escape sea level rise could radically reshape the U.S. population landscape, and not just in coastal areas, according to a recent study. The author, Mathew Hauer, an applied demographer with the Carl Vinson Institute of Government at the …
  
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• United Airlines Settles with Passenger Dragged from Plane

  27-04-2017 21:46
  
  United Airlines said it has reached a settlement with Dr. David Dao, the passenger who was dragged from a Chicago flight on April 9 because he did not want to surrender his seat. Video of the violent incident was viewed …
  
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• Online outfit offers business intelligence just for insurance pros

  27-04-2017 20:46
  
  The online data curator Relationship Science has launched a free News & Alerts service to enhance its industry- and business-specific intelligence.
  
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• NUPC presents Risk Manager Choice Awards at RIMS 2017

  27-04-2017 19:50
  
  AIG, FM Global, Swiss Re and Chubb received awards for their outstanding results in NUPC's Risk Manager Choice Awards.
  
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• Marsh Reports 5% Revenue Growth in Q1

  27-04-2017 19:00
  
  Marsh & McLennan Companies Inc. (MMC) reported financial results for the first quarter ended March 31, including 5 percent revenue growth at Marsh and 4 percent at Guy Carpenter, its Risk and Insurance divisions.   “With a strong start to the year, we …
  
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• Old Republic title insurance "far outpaced" last year's earnings - HousingWire

  27-04-2017 18:57 via housingwire.com
  
  HousingWire
  Old Republic title insurance "far outpaced" last year's earnings
  HousingWire
  Old Republic International Corporation's Title Insurance earnings performed well in the first quarter 2017, far outpacing last year's first quarter. The company noted that all of the year's operating earnings improvement emanated from more profitable ...
  
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• 7 Texas Auto Dealer Employees Charged with Insurance Scams, Theft

  27-04-2017 18:23
  
  Police in El Paso, Texas, say seven current and former employees of an auto dealership have been arrested for running a series of illegal schemes that included taking vehicles from the lot and stealing tires. Authorities said in a news …
  
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• Pipeline Company Investigating 19,000-Gallon Oil Spill in Oklahoma

  27-04-2017 18:19
  
  A Houston-based pipeline company continued cleanup at the site of a nearly 19,000-gallon oil spill in northwest Oklahoma that threatened a local water supply over the weekend. Crews from Plains All American Pipeline were at the site in rural Loyal, …
  
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• Former Willis CEO Casserley Joins Warburg Pincus as Investment Advisor

  27-04-2017 17:18
  
  Private equity firm Warburg Pincus said Dominic Casserley has joined the firm as a senior advisor in its Financial Services Group.  Casserley formerly CEO of Willis Group Holdings, will help evaluate new investment opportunities in the financial services sector, including …
  
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• Medicaid Coverage as Good as Private Insurance, Survey Shows - Medscape

  27-04-2017 17:10 via medscape.com
  Medscape
  Medicaid Coverage as Good as Private Insurance, Survey Shows
  Medscape
  Medicaid coverage is not only substantially better than being uninsured, but it is also as good as or better than private insurance in providing access to care, according to a new survey of 6000 people by the Commonwealth Fund, a New York–based think tank.
  Health insurance for new college grads: What to know about your optionsKankakee Daily Journal
  Study: Medicaid, private insurance offer similar access to care
  
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• Cyberattacks involving extortion are on the up, Verizon says

  27-04-2017 17:07
  
  Cyberattacks involving ransomware increased 50 percent in 2016, according to a report from Verizon Communications.
  
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• California Lawmakers Pondering Move to Dump Health Insurers

  27-04-2017 17:00
  
  California lawmakers are considering an audacious proposal that would substantially remake the state’s health care system by eliminating insurance companies and guaranteeing coverage for everyone. The idea known as single-payer healthcare has long been popular on the left. It’s gaining …
  
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• Regulators in California Hit PG&E with $8.3M Fine for Deadly Wildfire

  27-04-2017 16:55
  
  Regulators say they have fined Pacific Gas and Electric Co. $8.3 million for failing to maintain a power line that sparked a massive blaze in Northern California that destroyed 549 homes and killed two people. The California Public Utilities Commission …
  
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• $11.4M Settlement from California Oxygen Equipment Supplier

  27-04-2017 16:52
  
  A company in California’s Bay Area that sells home oxygen equipment has agreed to pay more than $11 million to settle allegations that it profited from filing false reimbursement claims with the government. The San Francisco Chronicle reported the Justice …
  
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• Massachusetts High Court Sides with Norfolk & Dedham in Personal Injury Suit

  27-04-2017 16:43
  
  The Massachusetts Supreme Judicial Court (SJC) has upheld a Superior Court decision that defendant, Norfolk & Dedham Mutual Fire Insurance Co., did not engage in unfair settlement practices in its handling of a personal injury claim. The SJC also reversed the …
  
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• Massachusetts Court Sides with Norfolk & Dedham in Personal Injury Suit

  27-04-2017 16:43
  
  The Massachusetts Appeals Court  has upheld a Superior Court decision that defendant, Norfolk & Dedham Mutual Fire Insurance Co., did not engage in unfair settlement practices in its handling of a personal injury claim. The court also reversed the portions …
  
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• House Committee Expected to Advance Overhaul of Dodd-Frank

  27-04-2017 15:43
  
  A U.S. Congressional banking panel is moving to advance legislation that would overhaul how the government regulates the financial sector, although it faces obstacles towards becoming law. Representative Jeb Hensarling, who chairs the House Financial Services Committee, is considering amendments …
  
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• Fire Guts New York Mill Owned by Cooperstown Baseball Bat Maker

  27-04-2017 15:06
  
  A fire has heavily damaged the upstate New York mill owned by a Cooperstown-based wood baseball bat company. Emergency officials in Otsego County say the fire was reported around 6 p.m. Monday at Cooperstown Bat Co.’s mill in the town …
  
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• You're a good driver but your insurance rate keeps going up. What gives? - The Bellingham Herald

  27-04-2017 15:04 via bellinghamherald.com
  
  The Bellingham Herald
  You're a good driver but your insurance rate keeps going up. What gives?
  The Bellingham Herald
  Washington state has more bad drivers than the national average, and that makes a difference in car insurance rates. According to a new study by QuoteWizard, car insurance rates have risen significantly in Washington since the beginning of 2016.
  
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• Appeals Court Upholds $250K in Damages Against Pan Am for Injured Maine Employee

  27-04-2017 15:01
  
  A federal appeals court has upheld $250,000 in damages against Pan Am Railways, saying the company illegally retaliated against a Maine employee. The Portland Press Herald reports conductor Jason Raye told his supervisors about a pile of railroad ties next …
  
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• New York Teen Gets Probation, Psychiatric Care in Friend’s Fire Death

  27-04-2017 14:55
  
  A teenager who has been in and out of the hospital with mental health problems since the death of a friend in a massive fire the boys started was sentenced Tuesday to a year of probation. A Family Court judge …
  
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• Octo Telematics Offers Insurers Distracted Driving Scoring Feature

  27-04-2017 14:49
  
  Octo Telematics is making available a distracted driving scoring and analysis feature within its suite of telematics products used by its more than 60 auto insurer customers. The scoring feature is available for both in-vehicle and mobile solutions that include Octo …
  
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• JPMorgan Not Liable to Madoff Customers, Court Rules

  27-04-2017 14:37
  
  JPMorgan Chase & Co. is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on …
  
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• Why Life Insurance Is Essential For Retirement Planning - Forbes - Forbes

  27-04-2017 14:31 via forbes.com
  
  Forbes
  Why Life Insurance Is Essential For Retirement Planning - Forbes
  Forbes
  Many people do not view life insurance as an essential and vital part of a retirement income plan. They see life insurance primarily as a way to protect families ...and more »
  
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• Why Life Insurance Is Essential For Retirement Planning - Forbes

  27-04-2017 14:31 via forbes.com
  
  Forbes
  Why Life Insurance Is Essential For Retirement Planning
  Forbes
  Many people do not view life insurance as an essential and vital part of a retirement income plan. They see life insurance primarily as a way to protect families from the early loss of a breadwinner during the working years. However, life insurance has ...and more »
  
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• MGA Pen Underwriting & Markel Partner to Offer UK Equine Cover

  27-04-2017 13:05
  
  Pen Underwriting has formed a new strategic partnership with specialist insurer Markel International to further consolidate Pen’s presence in the UK equestrian market and drive the company’s product innovation in the sector. Markel is an established and leading name in …
  
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• Willis Updates ‘Unify’ Platform in Response to New Solvency II Challenges

  27-04-2017 12:31
  
  Willis Towers Watson has released an updated version of “Unify,” the systems integration and workflow platform. Unify 2.0 introduces new features in response to the tightening of reporting timescales under Solvency II, which continue to pressure insurers to process vast …
  
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• Did emails settle a Superstorm Sandy claim before the insured brought suit?

  27-04-2017 12:15
  
  When negotiating an insurance claim, the parties often exchange emails. But when do those emails become a settlement and not just continued negotiations?
  
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• Eastern Newfoundland Windstorm Costs Insurers US$32.5M  

  27-04-2017 12:09
  
  A windstorm that hit eastern Newfoundland on March 11, 2017 has resulted in almost C$45 million (US$32.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting statistics from Catastrophe Indices and Quantification Inc. (CatIQ). Wind gusts of over 180 kilometers per hour (112 …
  
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• Hamilton Re Announces Management Team Appointments

  27-04-2017 11:55
  
  Hamilton Re, the Bermuda platform of Hamilton Insurance Group, announced the following appointment and senior role changes in its management team: Minesh Shah has joined Hamilton Re in the newly created role of senior vice president, Actuary. Shah reports to Chief Risk Officer Pete …
  
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• 14 kinds of insurance that can waste your money - CBS News - CBS News

  27-04-2017 11:00 via cbsnews.com
  
  CBS News
  14 kinds of insurance that can waste your money - CBS News
  CBS News
  Many widely promoted policies offer little value or are filled with exclusions and caveats – steer clear.and more »
  
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• 14 kinds of insurance that can waste your money - CBS News

  27-04-2017 11:00 via cbsnews.com
  
  CBS News
  14 kinds of insurance that can waste your money
  CBS News
  Marilyn Lewis and Hiram Reisner contributed to this post. Insurance, at its best, helps protect against events that could send your finances into a death spiral. Crucial products include insurance against serious car crashes, the loss of or damage to a ...and more »
  
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• Hackers’ Ransom Demands Rise as Victims Keep Paying: Symantec

  27-04-2017 09:35
  
  Hackers are demanding increasingly hefty ransoms to free computers paralyzed with viruses, as cyber criminals seek to maximize profits from large numbers of victims willing to pay up, according to cyber security firm Symantec Corp. The average demand embedded in such malicious software, which …
  
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• Political Risk Tops List of Worries for Insurers Across Globe: GS Survey

  27-04-2017 09:20
  
  Political risk is the biggest concern this year for insurers globally, following several shock outcomes in 2016, a survey of insurers managing $10 trillion in assets showed on Thursday. Political events have overtaken issues such as worries about an economic slowdown in …
  
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• Biohazard Cleanups Not Pretty—and Neither Are the Costs to Insurers

  27-04-2017 07:00
  
  If Peter Duncanson is on the scene, it’s probably not pretty. It could be a CSI-like crime scene with spattered blood and skin fragments on the sofa and wall. Or a trauma scene where an injured employee or animal traipsed …
  
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• 2 Tornadoes Confirmed in Mississippi From Weekend Weather

  27-04-2017 06:28
  
  The National Weather Service confirms two tornadoes hit Mississippi’s northeast corner on Saturday. A survey shows that a twister with top winds of 90 mph (145 kph) struck Prentiss County around 2:35 p.m. The tornado, rated EF-1 on the enhanced …
  
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• North Carolina Storms Cause Flood Worries

  27-04-2017 06:26
  
  People in North Carolina were paying attention to rising rivers on Tuesday after storms dumped several inches of rain across much of the state – the worst drenching since a damaging hurricane late last year. The state’s heaviest rainfall since …
  
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• Ready-to-Eat Ham Products Made in Tennessee Recalled

  27-04-2017 06:21
  
  The U.S. Department of Agriculture says a Memphis meat packer has recalled some ready-to-eat ham products due to possible bacterial contamination. The USDA’s Food Safety and Inspection Service said in a news release Tuesday that the recall includes ready-to-eat hickory …
  
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• Florida House Advances Bill Targeting Claims Abuse, But Senate Battle Looms

  27-04-2017 06:02
  
  A bill aimed at decreasing insurance claims abuse in Florida has made it through the Florida House, and the industry’s hope for assignment of benefits reform now officially rests with the state Senate. The Florida House of Representatives advanced House …
  
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• 3 best practices for collaborating with InsurTech startups

  27-04-2017 06:01
  
  No one said it would be easy to bring together legacy and nascent insurance companies, but the result could mean significant growth for both.
  
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• Local response to WIAA concussion insurance - Fox11online.com

  27-04-2017 04:42 via fox11online.com
  Fox11online.com
  Local response to WIAA concussion insurance
  Fox11online.com
  OSHKOSH (WLUK) -- It doesn't help stop concussions, but the state's high school athletic association, WIAA, will soon offer concussion insurance to all Wisconsin student athletes. The insurance will cover any gaps that might be there, with the primary ...
  Approximately 80K Wisconsin Students to have Concussion InsuranceWSAW
  WIAA announces concussion insuranceWBAY
  WIAA board approves concussion insurance for student athl
  
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• Governor signs bill improving online insurance verification system - Shawnee News Star

  27-04-2017 04:27 via news-star.com
  
  Governor signs bill improving online insurance verification system
  Shawnee News Star
  OKLAHOMA CITY – Gov. Fallin signed legislation Monday to help further reduce the number of uninsured drivers in Oklahoma. Sen. Ron Sharp is the principal Senate author of Senate Bill 115 to transfer oversight of the Compulsory Insurance Online ...
  
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• Daniels Takes on Marketing Role at Texas-Based ITS

  27-04-2017 02:17
  
  Dallas-based ITS, an insurance consulting and services firm specializing in the design, implementation and utilization of technology to optimize critical business processes and achieve exceptional results, reported it has expanded the responsibilities of Marti Daniels, who already serves as vice president …
  
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• Michigan Hospital to Pay $791K in Settlement over Needless Tests

  27-04-2017 02:16
  
  A Detroit-area hospital has agreed to pay $791,000 to settle allegations that it billed for unnecessary lab tests. The case against Crittenton Hospital Medical Center is linked to Dr. Farid Fata. He’s serving a 45-year prison sentence for putting patients …
  
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• Railway Sued by Family of South Dakota Man Run over by Train

  27-04-2017 02:14
  
  The family of a BNSF Railway employee killed in an accident in western South Dakota is suing the railroad, alleging it failed to protect him from being hit by a train while he was clearing snow and ice from a …
  
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• Brightway Insurance Adds Texas Locations - Insurance Journal

  27-04-2017 02:12 via insurancejournal.com
  
  Brightway Insurance Adds Texas Locations
  Insurance Journal
  Florida-based personal Lines independent insurance agency Brightway Insurance has opened two new branches in Texas. Brightway, The Lowry Agency, led by Robert Lowry, is located Spring, Texas. Brightway, The Young Agency, led by Benjamin Young, ...
  
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