Insurance news

• Report: New Medical Coding System Not Yet An Improvement in California Comp

  17-05-2017 22:35
  
  A new report shows that an updated medical coding system that went into effect in California a year-and-a-half ago hasn’t done much to better define the characteristics of worker injuries than the old one. A report by the California Workers’ …
  
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• As Hurricane Season Approaches, Review Your Insurance - New York Times

  17-05-2017 21:19 via nytimes.com
  As Hurricane Season Approaches, Review Your Insurance
  New York Times
  The Atlantic hurricane season is a little more than two weeks away, so now is a good time for homeowners along the coast to check their insurance coverage. The annual hurricane season runs for six months, from June through November. “A good place to ...
  
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• Oklahoma Seeks Federal Disaster Aid After Recent Severe Weather

  17-05-2017 18:52
  
  Oklahoma Gov. Mary Fallin announced the state of Oklahoma has requested a major disaster declaration from the federal government for 18 counties impacted by severe weather that occurred April 28 – May 2. If approved, the designation would deliver federal …
  
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• Oklahoma Court Affirms Employer’s Right to Choose Provider in Workers’ Comp Case

  17-05-2017 18:44
  
  An Oklahoma civil appeals court ruled in favor of an employer and its insurer in affirming an order by the Oklahoma Workers’ Compensation Commission, asserting an employer’s right to direct the medical treatment of an injured worker where it lacks knowledge of …
  
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• North Carolina Accuses 4 of Deliberately Damaging Roofs During Inspections

  17-05-2017 18:36
  
  North Carolina has arrested four men on allegations of attempting to defraud an insurer by damaging roofs during inspections, according a statement from the North Carolina Department of Insurance. North Carolina Insurance Commissioner Mike Causey announced the arrest of Phillip …
  
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• Arthur J. Gallagher Acquires Nebraska’s Strong Financial Resources

  17-05-2017 18:32
  
  Arthur J. Gallagher & Co. has acquired Strong Financial Resources Inc., with offices in Aurora and Lincoln, Nebraska. Terms of the transaction were not disclosed. Founded in 1996 by Calvin Strong, Aurora-headquartered Strong Financial offers a broad variety of group …
  
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• J.M. Wilson Promotes Russon, Hires Lankerd in Michigan

  17-05-2017 18:29
  
  Managing general agency and surplus lines broker J.M. Wilson has promoted Chris Russon and added Travis Lankerd in its Portage, Mich., office. Russon was promoted to property/casualty underwriter. She is responsible for quoting new and renewal accounts for a wide …
  
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• More than 100 Fatalities on Minnesota Highways This Year

  17-05-2017 18:21
  
  The Minnesota Department of Public Safety says more than 100 people have died on state roadways this year. The department’s Office of Traffic Safety says the grim milestone was reached this past weekend, but occurred later than last year when …
  
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• Texas Wholesale Insurance Broker LevelFirst Promotes Innocent to VP

  17-05-2017 18:19
  
  LevelFirst, the Dallas-based wholesale broker and MGA binding facility owned by IIAT Services Co., has promoted Kate Innocent to vice president. The promotion coincides with Innocent receiving a life/health insurance license. Innocent joined LevelFirst in 2014 as associate underwriter and …
  
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• Time is of the essence: Repairing, replacing damaged property

  17-05-2017 17:49
  
  Here's what you need to know about managing an insured's 'intent to repair and replace' notice.
  
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• Something’s fishy: Scallops spoiled, but will coverage provide the net?

  17-05-2017 17:15
  
  When a cargo of scallops was spoiled in transit, but there was no obvious cause, an insurer challenged whether this was an “occurrence” under the policy.
  
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• Around the P&C insurance industry: May 17, 2017

  17-05-2017 17:05
  
  News from FM Global, Crum & Forster, Tokio Marine and more.
  
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• AP to Defend Against Libel Claim by Russian Billionaire Over Trump Ties Story

  17-05-2017 16:58
  
  A Russian billionaire with ties to Vladimir Putin sued The Associated Press on Monday for defamation over a story about his connections to a former Trump campaign chairman. Aluminum magnate Oleg Deripaska claimed in the federal defamation and libel lawsuit …
  
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• Oregon Radish Farmers Sue Bank For $6.7M

  17-05-2017 16:45
  
  A group of Oregon farmers has filed a $6.7 million lawsuit against a bank for allegedly interfering with sales of radish seed and thus causing its value to decrease. The Capital Press reported the Radish Seed Growers’ Association suit filed …
  
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• 1st Suit Filed Against Petroleum Corp. Following Colorado House Explosion

  17-05-2017 16:42
  
  Neighbors have filed the first lawsuit stemming from a fatal house explosion in northern Colorado that’s blamed on unrefined natural gas flowing from a severed pipeline. The Longmont Times-Call reported Swiin Jeffrey and Karla Baum filed a negligence lawsuit against …
  
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• Families of Oakland Warehouse Fire Victims Sue

  17-05-2017 16:40
  
  Attorneys representing the families of people who died in an Oakland, Calif. warehouse fire that broke out during an unlicensed concert plan to file a lawsuit against the building’s owner and manager. Lawyer Mary Alexander says she is filing the …
  
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• Hackers Access Email Database of E-Signature Service Used by Insurance Industry

  17-05-2017 15:59
  
  Electronic signature service DocuSign said on Tuesday hackers had temporarily gained access to a database containing customer emails, which the company linked to a surge in phishing emails sent to its users. The company said the emails imitated the DocuSign …
  
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• String of Q1 Earnings Beat Fail to Drive Insurance ETFs - Zacks.com

  17-05-2017 15:44 via zacks.com
  
  String of Q1 Earnings Beat Fail to Drive Insurance ETFs
  Zacks.com
  After a stellar ride early in 2017, the insurance industry has lost its momentum despite the fact that it tends to flourish with a rise in interest rates. With a Fed rate hike in March and another lift-off expected next month, the stocks are not as ...and more »
  
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• Tuition Insurance: Is it Right for Your Family? - U.S. News & World Report

  17-05-2017 15:06 via usnews.com
  U.S. News & World Report
  Tuition Insurance: Is it Right for Your Family?
  U.S. News & World Report
  Tuition insurance pays out if a student needs to suddenly withdraw from college, most often for a covered medical reason. By Deborah Ziff, Contributor | May 17, 2017, at 9:00 a.m.. MORE. LinkedIn · StumbleUpon · Google +; Cancel. Tuition Insurance: Is ...
  
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• Sompo Develops Nat Cat Model for NW Australia Offshore Oil & Gas Installations

  17-05-2017 15:02
  
  Sompo Japan Nipponkoa Insurance Inc. (SJNKI) and Sompo Canopius AG are launching a natural catastrophe risk model for north-west Australia offshore oil and gas installations. The model development was carried out by Sompo Risk Management & Health Care Inc., which …
  
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• Drug Use at Work at Highest Rate in 12 Years: Quest

  17-05-2017 14:51
  
  Drug use in the American workforce, fueled by illicit drugs including cocaine, reached the highest positivity rate in 12 years last year, according to an analysis of more than 10 million workforce drug test results. Overall positivity in drug testing …
  
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• JLT Re Appoints Lockton’s Barden and Warner to Aviation Team

  17-05-2017 14:23
  
  JLT Re, the London-based reinsurance broker and consultant, has appointed Graham Barden and Jon Warner as partners in its aviation team. Barden has over 40 years of experience in the aviation market having worked in both reinsurance and insurance. He …
  
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• Fitch Urges Insurer Caution as Cyber Insurance Demand Grows - Insurance Journal

  17-05-2017 14:14 via insurancejournal.com
  
  Fitch Urges Insurer Caution as Cyber Insurance Demand Grows
  Insurance Journal
  The recent ransomware attacks in over 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations' cyber risk exposures. But Fitch Ratings says insurers should take a cautious approach ...and more »
  
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• Fitch Urges Insurer Caution as Cyber Insurance Demand Grows

  17-05-2017 14:14
  
  The recent ransomware attacks in more than 150 countries are likely to increase demand for related insurance protection as they reveal the widening scope of corporations’ cyber risk exposures. But Fitch Ratings says insurers should take a cautious approach to adding …
  
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• AXA Launches Unit Focusing on Innovation, New Business Models with Phillips as CEO

  17-05-2017 13:24
  
  AXA has appointed Joyce Phillips as chief executive officer of a new business unit dedicated to customer innovation and new business models. Phillips becomes a member of the management committee of AXA Group and reports directly to Thomas Buberl, CEO …
  
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• FM Global Appoints 3 Senior Leaders to New Positions

  17-05-2017 13:00
  
  Commercial and industrial property insurer FM Global has moved three of its seasoned leaders to new roles. Michael C. Lebovitz, senior vice president at middle market property insurer AFM, a member of the FM Global Group, has been named FM Global’s …
  
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• Hey, Millennials: Want to Help The Underserved? Sign Up For Insurance - WBUR

  17-05-2017 12:39 via wbur.org
  
  WBUR
  Hey, Millennials: Want to Help The Underserved? Sign Up For Insurance
  WBUR
  Tapping into millennials' compassion and activism might be the best way to motivate them to buy health coverage, says Aditi Juneja, a New York University law student. In the spring of my first-year of law school, while taking an exam, I had a grand mal ...and more »
  
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• Protections for La. policyholders impacted by Aug. 2016 flooding extended

  17-05-2017 12:15
  
  Many Louisiana residents are still recovering from last August's devastating floods. To help, the insurance commissioner is continuing the suspension of certain regulations.
  
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• BMW, Intel & Parts Maker Delphi to Develop Self-Driving Platform

  17-05-2017 12:01
  
  German automaker BMW AG, U.S. chipmaker Intel Corp. and parts maker Delphi Automotive PLC on Tuesday said they would collaborate on development of a highly-automated self-driving platform for BMW, with Delphi handling integration of components and software. BMW said the …
  
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• Senate GOP warms to larger insurance subsidies for older and low-income people - The Hill

  17-05-2017 12:00 via thehill.com
  
  The Hill
  Senate GOP warms to larger insurance subsidies for older and low-income people
  The Hill
  Senate Republicans are coalescing around the idea of giving more generous subsidies to lower-income and older people than what's laid out in the House-passed GOP healthcare reform bill. Many Republicans in the upper chamber generally agree that the ...and more »
  
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• Email that generated 324 leads and $8K in commissions in under 24-hours

  17-05-2017 12:00
  
  Most of the emails insurance agents write today are way too long and require too much time and effort to read and digest.
  
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• Ransomware attacks leave businesses and insurers exposed

  17-05-2017 11:30
  
  WannaCry has insurers evaluating damage and exposures. What lines of business will be responsible for coverage?
  
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• Can legislation change who’s at fault?

  17-05-2017 11:30
  
  New Florida statute may just shift the insurance burden.
  
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• Hey, Millennials: Want to Help The Underserved? Sign Up For Insurance - KLCC FM Public Radio

  17-05-2017 11:00 via klcc.org
  
  KLCC FM Public Radio
  Hey, Millennials: Want to Help The Underserved? Sign Up For Insurance
  KLCC FM Public Radio
  Tapping into millennials' compassion and activism might be the best way to motivate them to buy health coverage, says Aditi Juneja, a New York University law student. Ashley Pridmore/Courtesy of Youth Radio. In the spring of my first-year of law school ...and more »
  
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• WannaCry Ransomware Hackers Threaten to Release More Malicious Code

  17-05-2017 10:40
  
  Governments turned their attention to a possible new wave of cyber threats on Tuesday after the group that leaked U.S. hacking tools used to launch the global WannaCry “ransomware” attack warned it would release more malicious code. The fast-spreading cyber extortion campaign, which has …
  
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• More health insurance woes looming: blame Trump or Obama? - ABC News

  17-05-2017 09:58 via abcnews.go.com
  
  More health insurance woes looming: blame Trump or Obama?
  ABC News
  FILE - In this March 21, 2017 file photo, President Donald Trump, followed by Health and Human Services Secretary Tom Price, leaves Capitol Hill Washington. It's looking like another year of big premium increases and dwindling choice for many consumers ...and more »
  
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• Beware of burial insurance - GoErie.com

  17-05-2017 09:04 via goerie.com
  
  GoErie.com
  Beware of burial insurance
  GoErie.com
  Life insurance is one thing. Burial insurance or final expense insurance is another. It's important to know the difference. Tribune News Service. Death is one of the few certainties, but how you pay for your funeral isn't. To address this afterlife ...
  
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• AIG’s High Cost of Hiring Duperreault

  17-05-2017 07:00
  
  American International Group’s decision to recruit Hamilton Insurance Group CEO Brian Duperreault as its next leader won’t come cheap. To begin with, AIG will pay Hamilton $20 million to release Duperreault from contract restrictions that would prevent or restrict him from working …
  
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• Alternative Service Concepts Promotes Patterson to Claims Manager in Nashville

  17-05-2017 06:58
  
  Alternative Service Concepts (ASC), a national third party claims administrator (TPA), has promoted Tracy Patterson to claims manager. Patterson will be responsible for managing a staff of ten dedicated to serving a large municipality client.  She will report to Assistant …
  
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• Alternative Service Concepts Promotes Patterson to Claims Manager

  17-05-2017 06:58
  
  Alternative Service Concepts (ASC), a national third party claims administrator (TPA), has promoted Tracy Patterson to claims manager. Patterson will be responsible for managing a staff of ten dedicated to serving a large municipality client.  She will report to Assistant …
  
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• Georgia Supreme Court Upholds Ridesharing Law

  17-05-2017 06:52
  
  Georgia’s highest court has handed a victory to ridesharing services like Uber and Lyft. The Georgia Supreme Court on Monday affirmed a lower court’s dismissal of a lawsuit filed by Atlanta taxi drivers and upheld a state law regulating and …
  
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• U.S. Supreme Court Sides With Kentucky Nursing Home in Arbitration Case

  17-05-2017 06:44
  
  The United States Supreme Court says a Kentucky nursing home can require the families of two former residents to pursue claims against the home outside of court. The justice ruled 7-1 on Monday that the home could enforce contracts signed …
  
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• City of Philadelphia Sues Wells Fargo, Alleges Predatory Lending

  17-05-2017 06:33
  
  The City of Philadelphia sued Wells Fargo & Co. on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act. The lawsuit came two weeks after the U.S. Supreme Court, in a case also involving …
  
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• 100 Residents Evacuated, 1 Killed in Pittsburgh High-Rise Apartment Fire

  17-05-2017 06:30
  
  A high-rise apartment fire early Monday took the life of a woman and left dozens looking for temporary shelter, authorities said. Investigators were investigating the cause of the blaze that forced more than 100 residents to be evacuated from Midtown …
  
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• The Hartford Launches Risk Management Platform For Large, Midsize Businesses

  17-05-2017 06:25
  
  The Hartford has released a new risk management information system (RMIS) to address the evolving data needs of its largest commercial customers who are most at risk for loss. The new system – TREO | Track Risk. Explore Opportunities. – …
  
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• Owners of New Jersey Diner Who Burned it Down for Insurance Avoid Prison - Insurance Journal

  17-05-2017 06:21 via insurancejournal.com
  
  Owners of New Jersey Diner Who Burned it Down for Insurance Avoid Prison
  Insurance Journal
  The owners of a New Jersey diner who burned it down to collect insurance money have been spared prison terms. Forty-nine-year-old Tina Diakos and 40-year-old Ozkan Cengiz were both sentenced to five years of probation on Friday. They had each ...
  
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