Insurance news

• Workplace Regulation to Reduce Incidents at California Oil Refineries OK’d

  18-05-2017 21:40
  
  California’s Department of Industrial Relations’ Occupational Safety and Health Standards Board today approved a regulation aimed at strengthening workplace safety and health at oil refineries across the state. The new regulation is designed to provide a framework for anticipating, preventing …
  
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• Judge Dismisses Lawsuits Claiming Facebook Liable for Supporting Terrorists

  18-05-2017 21:39
  
  A federal judge on Thursday dismissed two lawsuits seeking to hold Facebook Inc. liable for supporting terrorist groups by letting them use its social media platform to further their goals, including violence against Jews. U.S. District Judge Nicholas Garaufis in …
  
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• Judge Dismisses Lawsuits Claiming Facebook Liable for Supporting Hamas Terrorists

  18-05-2017 21:39
  
  A federal judge on Thursday dismissed two lawsuits seeking to hold Facebook Inc. liable for supporting terrorist groups by letting them use its social media platform to further their goals, including violence against Jews. U.S. District Judge Nicholas Garaufis in …
  
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• Federal Lawsuit Alleges Baylor Football Players Recorded Rapes

  18-05-2017 20:57
  
  A new federal lawsuit against Baylor University alleges football players routinely recorded gang rapes and staged dog fights during hazing parties in a program that fostered sexual violence. A former Baylor volleyball player, identified as Jane Doe in the lawsuit, …
  
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• Report: Autonomous cars to drive $81 billion in new insurance premiums

  18-05-2017 19:46
  
  The market for autonomous vehicle coverage is expected to expand quickly due to risks related to cybersecurity, software and hardware, as well as the need for additional public infrastructure coverage.
  
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• Michigan Orders Man to Stop Selling Insurance Without a License

  18-05-2017 18:53
  
  The Michigan Department of Insurance and Financial Services (DIFS) has issued a Cease and Desist Order against Adam Michalik, also known as Adam Heaphy, of Harrison Township, Michigan. DIFS says Michalik has been using the agency name “Detroit Premier Insurance Agency” to sell …
  
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• CompSource Named Company of the Year by Oklahoma Independent Insurance Agents

  18-05-2017 18:38
  
  Independent insurance agents in Oklahoma have honored CompSource Mutual Insurance Co. with their company of the year award. The Independent Insurance Agents of Oklahoma presented CompSource with the 2017 Company of the Year award at IIAOK’s recently held 110th Annual …
  
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• Bill Setting Statewide Rules for Ridesharing Companies Passes Texas Senate

  18-05-2017 18:11
  
  A bill that would preempt local regulations for ridesharing companies in Texas and replace them statewide standards has passed the Texas Senate. It now heads to the desk of Gov. Greg Abbott for his signature. HB 100, sponsored by Georgetown Sen. Charles …
  
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• Political Commentators File Suit over Ohio’s Online Harassment Ban

  18-05-2017 17:57
  
  A group of liberal and conservative online political commentators in Ohio has filed a constitutional challenge to the state’s recently enacted law against internet harassment. A federal lawsuit filed Tuesday in U.S. District Court in Cleveland alleges a prohibition against …
  
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• Tornadoes Leave at Least 2 Dead as Storms Pummel Central U.S.

  18-05-2017 17:55
  
  Storms whipped through a wide swath of the nation’s midsection, giving rise to tornadoes that flattened a Wisconsin mobile home park and an Oklahoma subdivision and killing at least two people and injuring dozens of others. The storms hit Wisconsin …
  
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• Messenger Moving to JLT Re as Executive Vice President

  18-05-2017 17:36
  
  JLT Re (North America) Inc. has appointed Greg Messenger as executive vice president in Chicago where he will focus on the development of JLT Re’s regional, mutual, and national global practices. He joins JLT Re with more than 35 years of …
  
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• Bipartisan Senators Look to Address Banking Risk for Marijuana Industry

  18-05-2017 17:22
  
  Republican and Democratic senators on Wednesday renewed their drive to make banking easier for marijuana-based businesses in those U.S. states where the drug is legal, undeterred by signals from the Trump administration about maintaining tough marijuana restrictions nationally. The eight …
  
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• Individual Insurance Buyers Were Better Off Without Obamacare - Forbes

  18-05-2017 17:19 via forbes.com
  
  Forbes
  Individual Insurance Buyers Were Better Off Without Obamacare
  Forbes
  This article was co-authored with Beverly Gossage, an insurance broker in Kansas and a member of the National Association of Health Underwriters, and Linda Gorman, an economist with the Independence Institute, a free market think tank in Denver, ...
  
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• Injured Worker Attorney Involvement Varies Widely by State

  18-05-2017 17:10
  
  There is a wide variation in the percentage of claims with worker attorneys involvement across state workers’ compensation systems, according to the latest research from the Workers Compensation Research Institute (WCRI). According to the study of 18 states, the percentage …
  
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• Washington Governor Signs Law Banning Holding Cellphone While Driving

  18-05-2017 16:44
  
  Washington Gov. Jay Inslee has signed a measure that bans holding hand-held devices while driving. The measure, signed by Inslee in Tacoma Tuesday, prohibits holding an electronic device, including phones, tablets and other electronic devices, while driving, including while in …
  
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• 2 Minor Quakes Shake California Coastal Area

  18-05-2017 16:42
  
  A pair of small earthquakes gave a jolt and a shake to the Santa Barbara, Calif. area, but there were no reports of any damages or injuries, the U.S. Geological Survey confirmed. The USGS says in a preliminary report that …
  
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• California Division of Workers’ Compensation Suspends Two, Including Drobot

  18-05-2017 16:36
  
  California’s Department of Industrial Relations and the Division of Workers’ Compensation has suspended two more medical providers from participating in California’s workers’ compensation system. The suspensions were made possible by the passage last year of Assembly Bill 1244, which requires …
  
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• XL Catlin Names AIG’s Estrada, Zurich’s Hughes to Canada Environment Team

  18-05-2017 16:25
  
  XL Catlin has added two new members to its Canadian environmental insurance team: Marc Estrada as environmental team lead and Brian Hughes as assistant vice president, environmental underwriting. Estrada and Hughes are based in Toronto and report to Joseph Madigan, environmental regional manager for Canada. Estrada joins …
  
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• New York County Sues Purdue, J&J Over Opioid Marketing

  18-05-2017 16:12
  
  A county in New York state has sued Purdue Pharma LP, Johnson & Johnson and other drugmakers, accusing them of engaging in fraudulent marketing that played down the risks of prescription opioid painkillers, leading to a drug epidemic. The lawsuit, …
  
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• Why Warren Buffett May Be Wrong on AI and Insurance - Fortune

  18-05-2017 16:04 via fortune.com
  
  Fortune
  Why Warren Buffett May Be Wrong on AI and Insurance
  Fortune
  The Oracle of Omaha this month warned that artificial intelligence poses a threat to Berkshire Hathaway's auto insurance business. Speaking at the company's annual meeting, Berkshire CEO Warren Buffett said the use of AI in self-driving cars will mean ...and more »
  
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• Canada’s Rogers Insurance Partners with Megson FitzPatrick

  18-05-2017 15:48
  
  Rogers Insurance Ltd. announced it has partnered with Victoria, British Columbia-based Megson FitzPatrick Inc., beginning with the purchase of a minority stake in Megson FitzPatrick. The financial details of the purchase were not disclosed. “This partnership strengthens both organizations tremendously. Our …
  
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• Indy 500 Drivers Race Past Talk of Their Insurance, Says Agent

  18-05-2017 14:58
  
  At least half of the Indianapolis 500 field will share more than steely nerves and a love of speed. They have the same agent for insurance, including some policies they’d rather not contemplate. Life insurance. “To a T, they all …
  
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• Alabama Workers’ Compensation Act to Remain in Place, For Now

  18-05-2017 14:00
  
  Alabama’s workers’ compensation law, ruled unconstitutional by a county judge last week, will remain in effect for the immediate future. The Alabama judge who on May 8 declared the state’s workers’ compensation act unconstitutional has issued an indefinite stay to his …
  
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• PERILS Releases European Windstorm Catalogue (1979-2015)

  18-05-2017 13:50
  
  PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released a storm catalogue containing the gust footprints of more than 200 of the largest European windstorms from the period 1979 to 2015. The windstorm catalogue was produced …
  
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• Zurich Insurance Deploys Robots for Personal Injury Claims Handling

  18-05-2017 13:45
  
  Zurich Insurance is deploying artificial intelligence in deciding personal injury claims after trials cut the processing time from an hour to just seconds, its chairman said. “We recently introduced AI claims handling … and saved 40,000 work hours, while speeding up the …
  
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• European Cyber Police Hunt for Culprits of Global Ransomware Attack

  18-05-2017 13:16
  
  Days after the global cyber attack, U.K. police are trying to figure out whether it was an established network of criminals, state-backed hackers or bored teenagers that crippled the country’s health service. The malware campaign affected more than 200,000 computers …
  
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• What it takes to attract and keep insurance & financial services employees

  18-05-2017 12:30
  
  Beyond wages and benefits, workers want flexibility and career development.
  
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• Key findings for businesses from the 2017 FM Global Resilience Index report

  18-05-2017 12:30
  
  With the number of challenges likely to expand in 2017, businesses need to know how they can overcome futures disruptions across the world.
  
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• N.Y. to auto insurers: Don't use education or occupation in setting rates

  18-05-2017 12:00
  
  N.Y. State proposes a regulation to prohibit insurers from using education levels or occupational status in setting auto insurance rates, which are seen as 'unfairly discriminatory.'
  
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• Markel to Set Up Munich-Based Subsidiary in Preparation for Brexit

  18-05-2017 12:00
  
  Markel Corp. announced it plans to apply for regulatory approval to establish an insurance company in Germany to ensure that whatever the outcome of the Brexit negotiations it will be able to meet the insurance needs of clients in the …
  
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• Global Insurers Face High Compliance Costs with New Accounting Rules

  18-05-2017 11:35
  
  Insurers in over 100 countries face a “once in a lifetime” accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. Twenty years in the works, the new …
  
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• Global Insurers Face Compliance Challenges with New Accounting Rules

  18-05-2017 11:35
  
  Insurers in over 100 countries face a “once in a lifetime” accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. Twenty years in the works, the new …
  
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• As hackers lurk, companies turn to cyber insurance - CBS News - CBS News

  18-05-2017 11:15 via cbsnews.com
  
  CBS News
  As hackers lurk, companies turn to cyber insurance - CBS News
  CBS News
  Unable to keep criminals outside their their computer systems, many businesses are taking other steps to protect themselves.and more »
  
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• Number of Florida Wildfires Tops 2,100 So Far This Year

  18-05-2017 07:09
  
  State officials say 170,000 acres in Florida have burned from wildfires since the start of the year. Florida Agriculture Commissioner Adam Putnam said that more than 127 active fires were burning in Florida as of Monday. Since the start of …
  
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• Republican Governors Have Own Ideas for Healthcare Reforms

  18-05-2017 07:00
  
  A group of about a dozen Republican governors is pushing for its own set of national healthcare reforms, flexing its considerable muscle in the national debate over the future of Obamacare as the U.S. Senate begins writing its bill. Led …
  
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• Eastern Pacific Hurricane Season Starts Off Slowly

  18-05-2017 07:00
  
  The eastern Pacific hurricane season is starting off with a whimper. While one short-lived tropical storm developed off Mexico’s Pacific coast last week, the earliest on record, computer models show another one isn’t likely soon, said Jeff Masters, co-founder of …
  
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• New York Woman Whose Car Damaged by Target Red Ball Files $100K Suit

  18-05-2017 06:45
  
  A New York woman has sued the Target corporation after one of its two-ton red balls rolled into her driver’s side door. Eileen Grady claims in her lawsuit that the company “knew or should have known” the concrete balls would …
  
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• U.S. Drought Monitor Says New England Drought is Over

  18-05-2017 06:30
  
  New England is drought free. That’s according to the latest weekly report issued by the U.S. Drought Monitor. While conditions in about a quarter of the state of Connecticut remain “abnormally dry,” no portion of the six-state region is considered …
  
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• New York Looks to Limit Auto Insurance Rating Factors

  18-05-2017 06:25
  
  New York state is moving to restrict the ability of auto insurers to use a customer’s job or education to set premiums. Gov. Andrew Cuomo announced the proposed regulation Tuesday. The Democrat says it’s necessary to stop an unfair and …
  
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• FCCI Appoints New Leadership in Gulf Coast Region

  18-05-2017 06:17
  
  FCCI Insurance Group (FCCI), a provider of commercial property and casualty insurance, has promoted Tiffany Hawkins to regional vice president, and Trey Stone to assistant vice president in the Gulf Coast Regional office located in Ridgeland, Miss. In her new …
  
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• Ex-Coal CEO Blankenship Urges Trump to Probe 2010 Mine Blast in West Virginia

  18-05-2017 06:07
  
  A former coal executive who last week finished a yearlong prison sentence for conspiring to violate safety standards at a mine where a deadly blast occurred, has urged U.S. President Donald Trump to “get to the truth” about the incident. Donald Blankenship, …
  
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• Wedding gone wrong? 5 ways insurance could help set things right

  18-05-2017 06:01
  
  Wedding cancellation and liability insurance can be a great investment for your insurance agency clients.
  
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• Texas ‘Hailstorm’ Litigation Bill Headed to Governor’s Desk

  18-05-2017 03:10
  
  Legislation backed by the insurance industry and Texas some business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events has passed the state Senate and is headed for the governor’s desk. …
  
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• COO Manzitto to Resign from Topa in California

  18-05-2017 02:07
  
  Anthony Manzitto, chief operating officer of Calabasas, Calif.-based Topa Insurance Group, is resigning at the end of this month to pursue another opportunity, according to a letter from President and CEO John Donahue that is being sent to employees on …
  
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