Insurance news

• Lawmakers Plan To Reject Self-Insurance For State Employees - Wisconsin Public Radio News

  09-05-2017 22:01 via wpr.org
  
  Wisconsin Public Radio News
  Lawmakers Plan To Reject Self-Insurance For State Employees
  Wisconsin Public Radio News
  State lawmakers plan to reject Gov. Scott Walker's pitch to move state employee health plans to a self-insurance model. Walker included the plan in his proposed 2017-19 budget the Joint Finance Committee is re-working and voting on. The announcement to ...
  Scott Walker's self-insurance proposal appears to be deadMadison.com
  Lawmakers say they will reject self-insurance propos
  
  Read more

• California OKs Lower Rates for State Farm’s Boat, Home Inland Marine Policies

  09-05-2017 21:31
  
  California Insurance Commissioner Dave Jones has approved rate reductions for two State Farm inland marine policies that he said will bring millions of dollars in premium savings for tens of thousands of boat owners and homeowners with jewelry and higher …
  
  Read more

• California Commissioner OKs Reduced Rates for State Farm Marine And Homeowners Policyholders

  09-05-2017 21:31
  
  California Insurance Commissioner Dave Jones has approved rate reductions for two State Farm inland marine policies that he said will bring millions of dollars in premium savings for tens of thousands of boat owners and homeowners with jewelry and higher …
  
  Read more

• Buffett's fledgling biBERK pursues online insurance 'experiment' - Reuters

  09-05-2017 19:55 via reuters.com
  
  Reuters
  Buffett's fledgling biBERK pursues online insurance 'experiment'
  Reuters
  FILE PHOTO: Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking/File Photo. 1/2. left. right. FILE PHOTO: Berkshire ...and more »
  
  Read more

• Advertisement

• Agents Council for Technology adds Duck Creek Technologies

  09-05-2017 19:47
  
  Duck Creek Technologies announced today that it recently joined the Independent Insurance Agents & Brokers of America’s Agents Council for Technology (ACT).
  
  Read more

• California Division of Workers’ Compensation Suspends 4 Medical Providers

  09-05-2017 19:03
  
  California’s Department of Industrial Relations and the Division of Workers’ Compensation has suspended four more medical providers from participating in California’s workers’ compensation system. The suspensions were made possible by the passage last year of Assembly Bill, which requires the …
  
  Read more

• Alabama Man Arrested by FBI For Stealing $180K from Employers

  09-05-2017 18:32
  
  An Alabama man has been arrested on charges of stealing more than $180,000 from former employers. AL.com reports the FBI arrested 32-year-old Randall Sho Woods on May 3. The Department of Justice says in a release that a federal grand …
  
  Read more

• Will Wells Fargo & Co. sell its insurance brokerage business?

  09-05-2017 18:23
  
  Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said.
  
  Read more

• Advertisement

• Arsonists Blamed for 320 Florida Wildfires in 2017

  09-05-2017 18:23
  
  Florida officials say arsonists have ignited about 320 wildfires so far this year, burning more than 20,000 acres across the state. Agriculture Commissioner Adam Putnam said severe drought conditions have increased the wildfire threat statewide, but arson causes many blazes. …
  
  Read more

• Court Rules U.S. Bailout of AIG Was Legal, Denies Shareholder Claim Led by Starr’s Greenberg

  09-05-2017 16:48
  
  A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc. during the 2008 financial crisis, in a defeat for former chief executive officer Maurice “Hank” Greenberg. The Federal Circuit Court …
  
  Read more

• Court Denies Shareholder Claim Against AIG Bailout Case Led by Starr’s Greenberg

  09-05-2017 16:48
  
  A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc. during the 2008 financial crisis, in a defeat for former chief executive officer Maurice “Hank” Greenberg. The Federal Circuit Court …
  
  Read more

• Only 3 to Check Safety on Colorado Pipelines from Thousands of Wells

  09-05-2017 16:40
  
  State records show Colorado has only three people assigned to check on the safety of pipelines running from about 54,000 active oil and gas wells, a task that came under scrutiny after a leaking pipeline was blamed for a fatal …
  
  Read more

• Lockton Adds Petrovich as VP in Omaha, Nebraska

  09-05-2017 16:38
  
  Alex Petrovich has joined privately held, independent insurance broker, Lockton Companies, as vice president in its Omaha, Neb., office. Petrovich has a decade of experience in commercial insurance, risk management, and employee benefits across a number of industries. In his …
  
  Read more

• Illinois Distracted Driving Campaign Results in 1K Citations

  09-05-2017 16:34
  
  Illinois State Police say troopers issued more than 1,000 distracted driving citations during a week-long enforcement campaign. The inaugural awareness campaign kicked off April 24 and concluded April 28. Troopers also wrote up more than 980 distracted driving warnings and …
  
  Read more

• Imprise Financial Hires Thomas as Captive Insurance Account Exec

  09-05-2017 16:31
  
  Imprise Financial PCC Inc., based in Cleveland, Ohio, has added Derek Thomas as an account executive. He will serve the company’s captive insurance clients with an emphasis on enterprise risk programs. Thomas will focus on helping small and mid-size companies …
  
  Read more

• Insurance Hub Gibraltar Plans for End of EU Passporting After Brexit

  09-05-2017 16:24
  
  Gibraltar is preparing for a post-Brexit setup in which its firms will have no longer access to the European Union market but will maintain a preferential relationship with Britain, a top Gibraltar financial official said on Tuesday. The tiny British …
  
  Read more

• How P/C Insurers Fared in 2016

  09-05-2017 16:00
  
  Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by significantly higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers Association of America. The results stand in sharp contrast …
  
  Read more

• Wells Fargo Weighing Sale of Insurance Brokerage Business: Bloomberg

  09-05-2017 14:53
  
  Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said. The San Francisco-based lender has begun reaching out to private equity firms to gauge interest …
  
  Read more

• Sterling Jewelers Settles EEOC Gender Bias Claims But Class Action Still Possible

  09-05-2017 14:45
  
  Sterling Jewelers Inc. has settled claims by a U.S. agency that it discriminated against female employees in pay and promotions, but the deal will not affect a similar case brought on behalf of nearly 70,000 women who worked for the …
  
  Read more

• Will Technology Make Insurance Obsolete? - Insurance Journal

  09-05-2017 14:23 via insurancejournal.com
  
  Insurance Journal
  Will Technology Make Insurance Obsolete?
  Insurance Journal
  That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance Symposium, April 26-27 in Des Moines. The annual event is sponsored by a coalition of Iowa insurers, ...
  
  Read more

• Will Technology Make Insurance Obsolete?

  09-05-2017 14:18
  
  “Will technology make insurance obsolete?” That was the stark question posed by William Hartnett, a former Microsoft and ACORD executive, in his opening address to the 2017 Global Insurance Symposium, April 26-27 in Des Moines. The annual event is sponsored …
  
  Read more

• Today’s Older Employees Not a Retiring Bunch

  09-05-2017 14:17
  
  Retire by your mid-60s? How 1960s. More Americans age 65 and over are still punching the clock, and the last time the percentage was this high was when John F. Kennedy was in the White House. Last month, 19 percent …
  
  Read more

• United Airlines Pressured to Pay Damages Over Death of Giant Rabbit

  09-05-2017 14:15
  
  The owners of a giant rabbit named Simon who was found dead after a United Airlines flight demanded on Monday that the airline pay damages, order an outside investigation and re-evaluate how it handles animals on flights. Attorneys for Simon’s owners, …
  
  Read more

• New Jersey Agent Stults Honored with Woodworth Memorial Award

  09-05-2017 14:00
  
  The Independent Insurance Agents & Brokers (IIABA or the Big “I”) has awarded Charles “Cappy” Stults with the Woodworth Memorial Award, the highest honor the association bestows on one of its members, during the annual Big “I” Legislative Conference. Stults …
  
  Read more

• Alera Group Acquires Pennsylvania’s Striewig Bonding Agency

  09-05-2017 14:00
  
  Alera Group, based in Deerfield, Ill, has acquired Striewig Bonding Agency Inc. of Wormleysburg, Penn., effective May 1, 2017. Terms of the transaction were not disclosed. Since 1952, Striewig Bonding Agency has managed domestic and international surety programs for clients. …
  
  Read more

• More Than 25% of UK Financial Firms Make Plans for EU HQs on Brexit: EY

  09-05-2017 13:25
  
  More than a quarter of major U.K. financial services firms have said they will move staff or operations abroad, or are reviewing their domicile because of Brexit, according to consulting firm EY. That’s a 50 percent increase this year in …
  
  Read more

• Liberty Specialty Markets Names Chubb’s Gibbs as Chief Technology Officer

  09-05-2017 13:09
  
  Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Max Gibbs as its new chief technology officer. Based in LSM’s London headquarters, Gibbs will report to Nick Metcalf, president and managing director. He will be responsible for …
  
  Read more

• Fraternity, 18 Members Charged in Penn State Student’s Death

  09-05-2017 12:37
  
  Eighteen Penn State fraternity brothers have been charged with crimes ranging up to involuntary manslaughter in the death of a pledge who authorities say repeatedly fell down a flight of stairs after he and others were made to run a …
  
  Read more

• Australia’s Cyclone Debbie Estimated to Cost Insurers US$825.7M: PERILS

  09-05-2017 12:37
  
  The initial estimate of insured property market losses for Cyclone Debbie is A$1.12 billion (US$825.7 million), according to PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data. Tropical Cyclone Debbie caused significant wind and flood damage across the Australian …
  
  Read more

• Impact of driverless cars on the insurance market

  09-05-2017 12:30
  
  There will certainly be new insurance markets as a result of driverless cars.
  
  Read more

• Identity theft exposure: Protecting employees in and out of the cubicle

  09-05-2017 12:15
  
  In today’s digitized world, the chances of identity theft affecting your business are high.
  
  Read more

• Here’s why some water damage claims aren't covered

  09-05-2017 12:15
  
  The policy, maintenance and causation can be determining factors in a water claim.
  
  Read more

• A snapshot of the forces changing your insurance business

  09-05-2017 12:00
  
  Automating risk management, rating, quoting and renewals, integrating massive disparate legacy systems, and redefining age-old business models — essentially all at once — is no small task.
  
  Read more

• 2 Tornadoes Confirmed in Atlanta Area

  09-05-2017 07:10
  
  Weather officials have confirmed that two Atlanta-area sites were touched by tornadoes on Thursday. The National Weather Service said Friday in a news release that a tornado with winds of 75-85 mph (121-137 kph) touched down shortly after 9 p.m. …
  
  Read more

• Florida Lawmakers Once Again Fail to Pass AOB Claims Reform

  09-05-2017 07:08
  
  Florida lawmakers have once again let slip an opportunity to address insurance claims abuse, as legislation failed to make it through the Senate before the 2017 legislative session ended Friday. This is the fifth consecutive year that a bill on …
  
  Read more

• Florida Lawmakers Go Another Year Without Addressing AOB Claims Abuse

  09-05-2017 07:08
  
  Legislation targeting insurance claims abuse in Florida died again this year at the hands of Florida lawmakers. A bill advanced at the end of April by the Florida House of Representatives – House Bill 1421, sponsored by Rep. James Grant …
  
  Read more

• 6 ways companies can protect employees on business travel

  09-05-2017 06:01
  
  In an uncertain world, traveling can feel like a big risk. When you are responsible for protecting your employees and team when they travel, the risks can feel even more ominous.
  
  Read more

• Dem senator rips GOP insurance claim: 'What the f--k is that?' - The Hill (blog)

  09-05-2017 05:12 via thehill.com
  
  The Hill (blog)
  Dem senator rips GOP insurance claim: 'What the f--k is that?'
  The Hill (blog)
  Sen. Kamala Harris (D-Calif.) ripped a GOP lawmaker's claim that individuals won't die without healthcare, saying, "What the f--k is that?" "Like this guy, this congressman, you might as well say, 'People don't starve because they don't have food ...and more »
  
  Read more

• How can auto insurance in Detroit be affordable? - Detroit Free Press

  09-05-2017 04:46 via freep.com
  
  Detroit Free Press
  How can auto insurance in Detroit be affordable?
  Detroit Free Press
  Detroit drivers face the highest average insurance rates for cars and other vehicles in the country, often more than $3,000 a year for a single automobile. A Detroit Free Press investigation finds that runaway medical bills, disability benefits payouts ...
  Crowd gathers to hear solutions for Detroit's high auto insurance ratesWXYZall 3 news articles »
  
  Read more

• Wells Fargo Said to Explore Sale of Insurance Brokerage Unit - Bloomberg

  09-05-2017 04:39 via bloomberg.com
  
  Wells Fargo Said to Explore Sale of Insurance Brokerage Unit
  Bloomberg
  Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said. The San Francisco-based lender has begun reaching out to private equity firms to gauge interest in Wells ...and more »
  
  Read more

• Arkansas Woman Pleads Guilty in Fake U-Haul Crash Case

  09-05-2017 03:59
  
  An Little Rock woman has negotiated a plea in an insurance fraud case involving a 2015 reported car accident involving a U-Haul rental vehicle and fraudulent insurance claims, Arkansas Insurance Commissioner Allen Kerr announced. According to the Arkansas Insurance Department, …
  
  Read more

• Insurance Partners of Texas Acquired by Marsh & McLennan Agency

  09-05-2017 03:50
  
  Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Insurance Partners of Texas, an Abilene, Texas-based employee benefits consulting firm. Terms of the transaction were not disclosed. Founded in 2004, Insurance Partners of Texas …
  
  Read more

• Arkansas Crop Damage from Floods Pegged at $64.5M

  09-05-2017 03:47
  
  Preliminary estimates show that flooding and severe weather have affected more than 900,000 acres of farmland in Arkansas. A report released by the University of Arkansas System Division of Agriculture puts preliminary crop flood damage at $64.5 million. With an …
  
  Read more

• BDUSD changes insurance carriers - WiscNews

  09-05-2017 03:32 via wiscnews.com
  
  BDUSD changes insurance carriers
  WiscNews
  Beaver Dam Unified School District board of education approved changing the health insurance carrier from Dean Insurance to Unity Insurance. District director of human resources Mark DiStefano said the district has been looking at changing insurance ...
  
  Read more

• Dwight Howard Cited For Speeding And Driving Without Insurance The Morning Of Hawks' Game 6 Loss - Deadspin

  09-05-2017 02:20 via deadspin.com
  
  Deadspin
  Dwight Howard Cited For Speeding And Driving Without Insurance The Morning Of Hawks' Game 6 Loss
  Deadspin
  The Atlanta Journal-Constitution obtained the police report from the incident and wrote that after Howard was pulled over, “police found that he was driving on a suspended registration and without insurance.” After the officer ran Howard's driver ...
  Hawks' Dwight Howard caught driving without insurance, car towed after playoff lossSporting News
  Atlanta Hawks' Dwight Ho
  
  Read more

• Is Health Insurance A Right Or A Privilege? - Huffington post (press release) (blog)

  09-05-2017 01:33 via huffingtonpost.com
  
  Huffington post (press release) (blog)
  Is Health Insurance A Right Or A Privilege?
  Huffington post (press release) (blog)
  Now more than ever, health insurance is a staple story in the 24-hour news cycle. Opinions vary widely on the issue, as do politician's thoughts on the matter. Debates rage, tensions grow, and deeper divides are formed as our government wrestles with ...
  
  Read more

• NWA Flood Damage Recovery For Folks Without Flood Insurance - KNWA

  09-05-2017 00:53 via nwahomepage.com
  
  KNWA
  NWA Flood Damage Recovery For Folks Without Flood Insurance
  KNWA
  FAYETTEVILLE, Ark. - - Damage restoration businesses are busy this week following extensive flooding here in Northwest Arkansas. Crews are now handling the aftermath of a soggy situation, whether homeowners have insurance or not. Realtor Mary Ann ...and more »
  
  Read more

• California Earthquake Authority Creates Online Home Vulnerability Evaluator

  09-05-2017 00:13
  
  The California Earthquake Authority has created an online tool to help home inspection specialists evaluate a house’s vulnerability to earthquake damage. The online tool, QuakeGrade, uses information entered by an inspector and collects data about a house’s structural and geological …
  
  Read more

Follow @Insurance_Newsl on Twitter!