Insurance news

• Your Tree, Your Neighbor's Property, Whose Insurance? - Kiplinger Personal Finance

  19-05-2017 23:59 via kiplinger.com
  
  Kiplinger Personal Finance
  Your Tree, Your Neighbor's Property, Whose Insurance?
  Kiplinger Personal Finance
  This is a good time of year to trim trees that might cause problems, before the start of hurricane season on June 1. AddThis Sharing Buttons. Share to Facebook Share to Twitter Share to Email Share to More. iStock. By Kimberly Lankford, Contributing Editor
  
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• DOJ's Medicare Advantage lawsuits, investigations likely to change ... - ModernHealthcare.com

  19-05-2017 23:12 via modernhealthcare.com
  
  DOJ's Medicare Advantage lawsuits, investigations likely to change ...
  ModernHealthcare.com
  The Department of Justice's increased focus on investigating alleged fraud in the Medicare Advantage program is likely to change the way insurers do business, ...and more »
  
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• Hobbyists' path to drone flying gets easier as court rebuffs FAA

  19-05-2017 20:16
  
  The government’s authority to oversee burgeoning recreational drone use was dealt a setback when a federal appeals court barred the FAA from forcing hobbyists to register millions of unmanned aircraft.
  
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• Why artificial intelligence could become a P&C game-changer

  19-05-2017 18:45
  
  One-third of insurance executives surveyed for Accenture's "Technology Vision for Insurance 2017" report believe AI will completely transform their company within the next three years.
  
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• Companies use kidnap insurance to guard against ransomware attacks - Reuters

  19-05-2017 18:31 via reuters.com
  
  Reuters
  Companies use kidnap insurance to guard against ransomware attacks
  Reuters
  Cables and computers are seen inside a data centre at an office in the heart of the financial district in London, Britain May 15, 2017. REUTERS/Dylan Martinez. 1/2. left. right. FILE PHOTO: A screenshot shows a WannaCry ransomware demand, provided by ...and more »
  
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• People on the move in the P&C insurance industry: May 19, 2017

  19-05-2017 18:25
  
  News from JLT Specialty USA, Burns & Wilcox, Lockton Companies and more.
  
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• Wisconsin Gov. Scott Walker Wants to Abolish Labor Review Board

  19-05-2017 18:20
  
  Wisconsin’s 106-year-old labor commission would vanish and Gov. Scott Walker’s administration would decide workplace disputes, including workers’ compensation disputes, in its place under a budget proposal up being considered by the the Legislature’s finance committee. Walker’s plan to eliminate the …
  
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• New digital era for insurers [infographic]

  19-05-2017 18:20
  
  How will your organization thrive in the new era of fast efficient purchasing and product choice?
  
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• Family of Florida Man Fatally Shot by Deputy Settles Suit for $2.5M

  19-05-2017 18:20
  
  The parents of an unarmed man fatally shot by a Florida sheriff’s sergeant at the family’s nursery announced Monday that they have agreed to a $2.5 million settlement and called for the reopening of a criminal investigation into their son’s …
  
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• Michigan High Court Rejects Appeal Over Auto Insurance Fund Records

  19-05-2017 18:14
  
  There will be no sunlight on the records of an auto insurance fund that touches every Michigan driver. The Michigan Supreme Court has turned down an appeal from a coalition of health care, labor and consumer groups. The groups want …
  
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• Feds Grant Additional $3.2M to West Virginia for Flood Recovery

  19-05-2017 18:13
  
  West Virginia will receive an additional $3.2 million from the federal government for disaster recovery efforts for last year’s major floods. U.S. Sens. Shelley Moore Capito and Joe Manchin announced the community development block grant funding Monday. A statement released …
  
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• MEMIC Names Bourque as President, CEO Following Leonard’s Retirement

  19-05-2017 17:53
  
  The MEMIC Group, a Portland, Maine-based workers’ compensation specialist, has named company veteran Michael P. Bourque as its president and CEO to replace John T. Leonard, who is retiring later this year. Bourque, who has worked for the company for …
  
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• Selling earthquake insurance to California's 90% uninsured - Insurance Business America

  19-05-2017 16:44 via insurancebusinessmag.com
  
  Insurance Business America
  Selling earthquake insurance to California's 90% uninsured
  Insurance Business America
  Selling earthquake insurance to California's 90% uninsured A relative newcomer to the catastrophe insurance space is hoping to entice more consumers to take up earthquake insurance in California. Jon Christianson, COO at Palomar Specialty, which ...
  
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• Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

  19-05-2017 16:08
  
  Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …
  
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• Feds Warn Arizona Commission that Lowering Workplace Injury Fines is Risky

  19-05-2017 15:59
  
  Federal officials warned a commission overseeing Arizona’s workplace safety agency that its practice of lowering fines on companies for worker injuries and deaths violates the state’s laws and could jeopardize its ability to run its own safety program. The letter …
  
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• Utility Sued by Relatives of Oakland Warehouse Fire Victims

  19-05-2017 15:56
  
  Relatives of 18 of the 36 people who died in the Oakland, Calif. “Ghost Ship” warehouse fire added Pacific Gas & Electric utility as a defendant in their wrongful death lawsuits. They claimed the company should have known the warehouse’s …
  
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• UK Insurer Ageas Uses Artificial Intelligence to Manage Motor Claims

  19-05-2017 15:32
  
  UK insurer Ageas has begun to use artificial intelligence (AI) technology to help manage its motor claims in partnership with AI specialist, Tractable. In what it describes as a first for the UK market, Ageas said the technology is now …
  
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• How Autonomous Vehicles Will Grow Auto Insurance Before Shrinking It

  19-05-2017 15:23
  
  Insurance coverage for autonomous vehicles will bring $81 billion in new premiums to the insurance industry over the next eight years, according to a report from Accenture and Stevens Institute of Technology. These revenues will be derived from three new …
  
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• Democratic Attorneys General Move to Defend Obamacare Insurer Subsidies

  19-05-2017 14:26
  
  More than a dozen Democratic attorneys general on Thursday sought to intervene to defend a key part of the Obamacare healthcare law — subsidy payments to insurance companies — which is under threat in a court case. The 16 attorneys …
  
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• Toyota, BMW, Mazda, Subaru Settle Takata Airbag Economic Loss Claims

  19-05-2017 14:20
  
  Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million recalled vehicles with potentially defective Takata airbag inflators, court documents filed on Thursday showed. Toyota Motor Corp.’s share of the …
  
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• Novae Expands Cyber Team with Appointment of Quick from IBM

  19-05-2017 13:22
  
  Novae Group plc, the specialist listed Lloyd’s insurer, announced that Stuart Quick has joined its cyber team as breach response and cyber operations manager, reporting to Dan Trueman, head of cyber and chief innovation officer. Quick was previously a managing …
  
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• $63M Beach Restoration and Dune Project Begins in Atlantic City

  19-05-2017 12:57
  
  Officials have started a restoration project on some of New Jersey’s popular beaches. The Press of Atlantic City reports that work on beaches in Atlantic City, Ventnor, Margate and Longport started Thursday. Officials say the monthlong Absecon Island Project consists …
  
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• Lightning Wrecks Vermont Water Station, Causes Thousands in Damages

  19-05-2017 12:53
  
  A Vermont water pump station struck by lightning earlier this month faces up to $15,000 in repair costs. Arlington Select Board Chairman Keith Squires says the lightning fried and destroyed everything in the pump house, though electricians were able to …
  
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• Volvo Tests Autonomous Garbage Truck for Use in Cities

  19-05-2017 12:28
  
  Volvo Group is working with Swedish waste and recycling specialist Renova to develop an autonomous garbage collection truck for use in urban areas. The project explores how automation can contribute “to enhanced traffic safety, improved working conditions and lower environmental …
  
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• New York Eyes ‘Textalyzer’ to Combat Distracted Driving

  19-05-2017 12:19
  
  Ben Lieberman just wanted to find out what may have caused the head-on collision that killed his 19-year-old son, Evan, on a highway north of New York City. It took a lawsuit and six months in court to get the …
  
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• Jury awards $40M to offshore oil well owner in ‘message’ to insurer

  19-05-2017 12:15
  
  The trial revolved around claims that the well’s insurer, Lloyd’s of London, improperly refused to reimburse some of the expenses the insured incurred to repair and replace the hurricane-damaged well.
  
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• Hub Northeast Hires Willis Towers Watson’s Collins in New York

  19-05-2017 12:08
  
  Hub International Northeast (Hub Northeast), a subsidiary of Hub International Limited (Hub),  has hired Paul Collins as president and CEO. Based in Manhattan, Collins will be responsible for overseeing all retail and wholesale operations for the Northeast region of Hub, …
  
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• Re/Insurers, Other Global Businesses Have Stake in New WHO Leader

  19-05-2017 11:34
  
  The World Health Organization’s 194 member-states will vote for a new director-general next week, choosing a doctor to lead the planet’s top technical agency on all matters health. With a $4 billion annual budget, WHO’s influence extends to virtually all …
  
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• Technology is super — when it works

  19-05-2017 11:30
  
  Here's the thing about technology of any kind: It's great, when it actually works. And by that I mean, when it works for everyone involved.
  
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• California to Investigate Racial Discrimination in Auto Insurance ... - ProPublica

  19-05-2017 11:10 via propublica.org
  
  California to Investigate Racial Discrimination in Auto Insurance ...
  ProPublica
  The state's insurance department is following up on our findings that eight auto insurers charge more in minority neighborhoods than in other neighborhoods ...and more »
  
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• Texas Christian Camp to Settle Federal Discrimination Suit for $70K

  19-05-2017 07:15
  
  Carolina Creek Christian Camp Inc., a Huntsville, Texas-area business offering summer camping and retreats, will pay $70,000 and furnish other relief to settle a pregnancy and disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the agency …
  
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• Minnesota Independent Agents Honor SFM’s Happe with Company Rep Award

  19-05-2017 07:06
  
  The Minnesota Independent Insurance Agents and Brokers (MIIAB) recently honored SFM Risk Solutions Senior Vice President and Chief Marketing Officer Mike Happe with the group’s “Company Representative of the Year” award. This award is presented annually by the association upon …
  
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• Ex-Vanderbilt Student Sues University for $10M Over Assault Allegations

  19-05-2017 06:32
  
  A former student has filed a $10 million lawsuit against Vanderbilt University, claiming he was wrongfully accused of sexual assault. The Tennessean reports the lawsuit was filed May 5. It claims the student, identified only as “Z.J.,” was expelled three …
  
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• 14 Arrested in Miami Assisted Living Facility Insurance Fraud Scheme

  19-05-2017 06:11
  
  A year-long investigation led by insurance fraud investigators with the Florida Department of Financial Services has ended with 14 arrests of assisted living facility owners in the Miami area, according to a statement by Chief Financial Officer Jeff Atwater. According …
  
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• 6 keys to successfully weathering the storm

  19-05-2017 06:01
  
  While we cannot control the weather, we can manage our level of preparation for what is to come.
  
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• Residents Assess Damage After Night of Tornadoes in Central U.S.

  19-05-2017 03:06
  
  Residents of an Oklahoma subdivision and a Wisconsin trailer park that were leveled by deadly tornadoes sifted through what remained of their homes and possessions Wednesday, even as forecasters warned of another round of powerful storms on the horizon. The …
  
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• Agricultural Flood Damage in Arkansas Estimated at $175M

  19-05-2017 03:02
  
  Officials say the estimated impact of agricultural flood damage in Arkansas due to recent severe weather is about $175 million. The University of Arkansas System Division of Agriculture says the April flooding affected more than 970,000 acres of farmland. University …
  
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• California Small Business Advocate Produces 2nd List of ‘Good, Bad & Ugly Bills’

  19-05-2017 00:19
  
  With a California Legislative deadline looming, a business advocate is calling attention to bills that he believes owners and managers of small businesses should take note of in his second annual list of “Good, Bad & Ugly Bills.” Any bill that doesn’t …
  
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