Insurance news

• Budget Proposal 'Will Kill Crop Insurance,' Says Insurance Expert - Agriculture.com

  24-05-2017 23:49 via agriculture.com
  
  Agriculture.com
  Budget Proposal 'Will Kill Crop Insurance,' Says Insurance Expert
  Agriculture.com
  Two years ago, then President Barack Obama unveiled plans in his budget to trim subsidies for the harvest price option of revenue protection. That was the biggest part of a projected savings of about $18 billion over 10 years. At the time it was ...
  
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• Senate OKs Pharmacy Price-Gouging Ban After Clash With ... - Hartford Courant

  24-05-2017 23:34 via courant.com
  
  Hartford Courant
  Senate OKs Pharmacy Price-Gouging Ban After Clash With ...
  Hartford Courant
  The state Senate Wednesday voted unanimous approval of a bill to protect consumers from "secret price gouging" by pharmacy benefit managers (PBMs) in the ...
  State senators issue warning to insurance commissionerInsurance Business Americaall 9 news articles »
  
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• Insurance premiums have doubled since 2013, but policies are more generous - ModernHealthcare.com

  24-05-2017 22:42 via modernhealthcare.com
  Breitbart News
  Insurance premiums have doubled since 2013, but policies are more generous
  ModernHealthcare.com
  An HHS report released late Tuesday paints a grim picture of the rising health insurance premiums under the Affordable Care Act. But health policy experts explained that while premiums may have gone up since the ACA was implemented, consumers are ...
  HHS Report: Average Health Insurance Premiums Doubled Under ObamacareBreitbart Newsall 25 news articles »
  
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• Louisiana Disaster Declarations in Last 18 Months Involved Nearly 90% of Parishes

  24-05-2017 18:43
  
  With hurricane season fast approaching, the Louisiana Department of Insurance is pointing out that in the last 18 months, nearly 90 percent of the state’s parishes have been included in major disaster declarations. The LDI is advising policyholders to take …
  
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• Millennials: The riskiest generation of drivers? [infographic]

  24-05-2017 18:40
  
  TransUnion’s study finds millennials pose greater insurance risk than previous generations at the same age, but they may be worth it as customers in the long run.
  
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• A.M. Best: Outlook Stable for MGA Insurance in Dallas

  24-05-2017 18:36
  
  A.M. Best has revised the long-term issuer credit rating (long-term ICR) outlook to stable from positive and affirmed the financial strength rating (FSR) of B++ (Good) and the long-term ICR of “bbb” of MGA Insurance Company Inc. (MGA), based in Dallas. The …
  
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• Damage Assessment from 7 Oklahoma Tornados Ongoing

  24-05-2017 18:32
  
  Meteorologists say seven tornados that occurred in northeast Oklahoma last week have received preliminary damage ratings. The Tulsa World reports tornados near Wagoner, Red Bird and Porter reached estimated wind speeds of up to 105 mph. The storms uprooted trees, …
  
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• Iowa Agency, Two Rivers Insurance, to Repay Cities, Counties

  24-05-2017 18:28
  
  State regulators say an Iowa insurance agency accused of a deceptive practice has agreed to repay more than $1.3 million to local governments. The Des Moines Register reports that Two Rivers Insurance Co., which is based in Burlington, was accused …
  
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• Leaks Discovered in Dakota Access Pipeline System

  24-05-2017 18:25
  
  The Dakota Access pipeline and a feeder line leaked more than 100 gallons of oil in North Dakota in separate incidents in March as crews prepared the disputed $3.8 billion pipeline for operation. Two barrels, or 84 gallons (320 liters), …
  
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• ISMIE Mutual Insurance Leader, Harold Jensen, Passes

  24-05-2017 18:23
  
   Chicago-based medical professional liability insurer, ISMIE Mutual, is mourning the the loss of its late chairman, Harold L. Jensen, M.D. Jensen died unexpectedly on Monday, May 22, 2017. A strong and visionary leader, Dr. Jensen transformed ISMIE into a medical …
  
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• Ironshore Raises Capacity for M&A Cover, Tax Consortium Launched

  24-05-2017 18:18
  
  Ironshore International’s Mergers & Acquisitions and Tax Insurance unit has enhanced its consortium programs to meet client and broker demand for larger, streamlined limits. Ironshore will increase the capacity for its Mergers & Acquisitions Consortium to £100 million ($129.8 million), from …
  
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• Swiss Re issues $925M earthquake catastrophe bond for California

  24-05-2017 17:00
  
  The transaction is one of the largest annual catastrophe bonds.
  
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• Mass. Court Says Suspended Public Employee Can Receive Workers’ Comp

  24-05-2017 16:47
  
  The Massachusetts Supreme Judicial Court has ruled that an injured public employee is still eligible to receive workers’ compensation benefits after being suspended from employment. The court concluded that workers’ compensation benefits are not compensation as defined in the state’s …
  
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• Poor credit could boost your car insurance rates by almost $2000 - CNBC

  24-05-2017 16:01 via cnbc.com
  
  CNBC
  Poor credit could boost your car insurance rates by almost $2000
  CNBC
  Drivers with poor credit may pay an average annual rate that is $690 higher, compared to drivers with good credit, according to NerdWallet. "Interestingly, we found many states where the rates for people with poor credit were higher than the rates for ...
  
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• Insurance Groups Welcome Delay in Liability Insurance Law Restatement

  24-05-2017 16:01
  
  Insurance groups breathed a sigh of relief this week after legal scholars delayed a vote on a controversial restatement of liability insurance law. As reported by Insurance Journal, the American Legal Institute (ALI) on Tuesday formally decided to postpone a …
  
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• California’s Single-Payer Bill Comes with $400B Price Tag

  24-05-2017 15:55
  
  A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said. Much of the cost would be offset by existing …
  
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• Small Quake Jolts Southern Part of Hawaii’s Big Island

  24-05-2017 15:50
  
  A magnitude 3.0 earthquake hit the island of Hawaii, the U.S. Geological Survey confirmed. The earthquake hit at 5:59 p.m. local time on Monday. Its epicenter was 12 miles (20 kilometers) north of Pahala, a town with a population of …
  
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• Target to Pay $18.5 Million to Settle States’ Claims from 2013 Data Breach

  24-05-2017 14:48
  
  Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The investigation — led by the Attorneys …
  
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• Climate Change Research, Flood Mapping Funds Take Hit in Proposed Trump Budget

  24-05-2017 14:41
  
  President Donald Trump’s first budget request to Congress would cut or eliminate a range of programs designed to reduce greenhouse gas emissions, as well those helping communities prepare for more intense flooding or hurricanes expected to result from climate change. …
  
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• U.K. Security Services Warn of Imminent Terrorist Attack; U.S. Leaks Criticized

  24-05-2017 14:24
  
  Soldiers are to patrol British landmarks and sporting events in their biggest homeland deployment in decades, as security services warned that another attack by terrorists who killed 22 people at a pop concert on Monday was imminent. Prime Minister Theresa …
  
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• Rhode Island Insurance Agents Have New Coastal Insurance Market

  24-05-2017 13:54
  
  Independent insurance agencies in Rhode Island have a new market for coastal homes – Spinnaker Insurance Company. Spinnaker’s New England distributor, Insurance Agency and Customer Service Company (IACSC) of New London, Conn., is offering selected agents appointments. Founded last October, …
  
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• Enterprise software development costs are too high

  24-05-2017 13:30
  
  Some insurance companies are using software that’s not fit for purpose because it’s too expensive to replace.
  
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• tKg Wholesale Brokerage Hires Wischnowsky as an Account Executive

  24-05-2017 12:52
  
  tKg Wholesale Brokerage has hired Matt Wischnowsky as an account executive focused on professional liability. Wischnowsky brings more than ten years of experience to the position. Most recently, Wischnowsky served as the managing director of GT Pro, a division of …
  
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• How to handle property sale, transfer claim disputes

  24-05-2017 12:45
  
  Determining liability to damaged property during or immediately after its sale can be complicated.
  
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• Former Vermont Homeowners Hope to Recover $4M After Evictions

  24-05-2017 12:43
  
  A group of former homeowners from a Vermont lakeside neighborhood hopes to recover some of the nearly $4 million they lost after they were forced to vacate. The Burlington Free Press reports the Mallets Bay Homeowner’s Association says the 24 …
  
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• Insurance doesn't cover restaurant's refusal to serve customer with service dog

  24-05-2017 12:15
  
  A federal court ruled that an insurance company didn't have to defend a restaurant that was sued for allegedly refusing to serve a person with a service dog.
  
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• Companies May Soon Be Required to Disclose Financial Impact of Climate Risk

  24-05-2017 12:15
  
  Companies’ disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to …
  
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• Companies May Soon Be Required to Disclose Financial Impact of Climate Risk

  24-05-2017 12:15
  
  Companies’ disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and …
  
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• Cyber Security Expert Leonardo to Offer Anti-Ransomware Weapon

  24-05-2017 11:44
  
  When a wave of ransom-requesting cyber attacks hit computers across the globe earlier this month, Leonardo SpA cyber-security experts had already warned clients that a larger-than-usual strike was about to hit. Now, the company is set to roll out a …
  
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• Bermuda Can Withstand Trump’s U.S. Tax Plans, Says Premier Dunkley

  24-05-2017 11:20
  
  Bermuda Premier Michael Dunkley said the nation will be able to attract businesses even as U.S. President Donald Trump plans to reduce tax rates to help keep companies onshore. “One of the things that I find very comforting about Bermuda …
  
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• Swiss Re Corporate Solutions Taps Kleiterp as CEO EMEA, Replacing Buckle

  24-05-2017 11:05
  
  Swiss Re Corporate Solutions has appointed Fred Kleiterp as CEO Europe, Middle East, Africa (EMEA), effective July 1, 2017. In this role, Kleiterp will be responsible for managing the strategy, development and performance of the company’s presence in the EMEA …
  
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• Paul Hanson’s Pedisich Heads to EPIC as Producer in California

  24-05-2017 11:00
  
  EPIC Insurance Brokers and Consultants has added Nick Pedisich as an insurance broker/producer. Pedisich will be based in EPIC’s Concord, Calif. office and report to Curt Perata, president of EPIC’s Pacific North region. He is focused on the transportation industry …
  
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• There’s No ‘Typical’ Day in the Work Cycle for Whirlpool’s Risk Manager

  24-05-2017 07:00
  
  How does a company incorporate a sustainable and cohesive risk management system for an enterprise with nearly 100,000 employees, 70 manufacturing and technology research centers located in 170 countries around the world, and $21 billion in annual sales? It’s a …
  
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• Florida CFO: $8M Recovered in Q1 Through Insurance Consumer Helpline

  24-05-2017 06:44
  
  Insurance specialists working to assist Floridians through Florida’s insurance consumer helpline recovered nearly $8.1 million in the first quarter of 2017, according to a statement from Florida’s Chief Financial Officer Jeff Atwater. Recoveries included insurance claim payments and premium refunds …
  
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• 4-Foot Sinkhole Opens Outside Trump’s Florida Resort

  24-05-2017 06:30
  
  A small sinkhole has opened on the road just outside President Donald Trump’s Mar-a-Lago resort in Florida. The Palm Beach Post reports that the 4-foot-by-4-foot (1-meter-by-1-meter) hole was discovered Monday in Palm Beach County just west of one the resort’s …
  
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• Memorial Day kicks off the most dangerous season of the year on the road

  24-05-2017 06:01
  
  Long daylight hours and better driving conditions may lull drivers into a false sense of safety during summer months­­­­, according to a new survey.
  
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• Driver of Tanker Truck Killed in Fiery North Carolina Crash

  24-05-2017 06:00
  
  The North Carolina Highway Patrol says a tanker truck overturned and caught fire, killing the driver. The patrol told local media outlets that the truck apparently veered off the road in the town of Clayton and hit two culverts, causing …
  
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• Men buying maternity coverage: Insurance and redistribution are different things - Washington Examiner

  24-05-2017 04:04 via washingtonexaminer.com
  
  Washington Examiner
  Men buying maternity coverage: Insurance and redistribution are different things
  Washington Examiner
  Insurance is one thing. The safety net and redistribution are other things. Public goods are also related, yet separate from insurance. This seems like a noncontroversial statement. Banal, even. But as the Senate takes up the Republican healthcare bill ...
  
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• USDA bracing for 'significant' cuts to rural, food stamps, crop insurance programs - CNBC

  24-05-2017 02:05 via cnbc.com
  
  CNBC
  USDA bracing for 'significant' cuts to rural, food stamps, crop insurance programs
  CNBC
  The Trump administration's budget blueprint for fiscal 2018 has the U.S. Department of Agriculture bracing for "significant" cuts to rural development, food stamps and crop insurance programs. "I don't think there's any reason to try to sugar coat this ...
  Crop Insurance Cut 36% in Trump BudgetAgriculture.com
  Budget proposal includes cut in crop insurance fundingNTVall 57 news articles »
  
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• Senate resurrects ban on abortion insurance - MyStatesman.com

  24-05-2017 02:04 via mystatesman.com
  
  MyStatesman.com
  Senate resurrects ban on abortion insurance
  MyStatesman.com
  The Texas Senate revived a stalled abortion measure late Monday night by adding it as an amendment to a bill on insurance information for doctors. House Bill 3124 was amended to add language from Senate Bill 20, which would ban abortion coverage in ...and more »
  
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• Indiana Couple Awarded $744K for Son’s Unnecessary Shoulder Surgery

  24-05-2017 00:54
  
  A northern Indiana jury has awarded $744,000 to a couple who claimed a now-deceased doctor performed unnecessary surgery on their teenage son. Dean and Tracy Dixon’s medical malpractice suit alleged that Dr. Willard G. Yergler performed unneeded shoulder surgery in …
  
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• State Auto’s Clark Named CEO of GuideOne Insurance

  24-05-2017 00:52
  
  West Des Moines, Iowa-based GuideOne Insurance has named Jessica E. Clark as the company’s new chief executive officer (CEO). Bringing nearly 20 years of leadership experience in property and casualty insurance, Clark assumes her new role on June 12. She succeeds …
  
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• Past Car Insurance Coverage Can Cost You More Money Down The Line - NBC 5 Dallas-Fort Worth

  24-05-2017 00:15 via nbcdfw.com
  
  NBC 5 Dallas-Fort Worth
  Past Car Insurance Coverage Can Cost You More Money Down The Line
  NBC 5 Dallas-Fort Worth
  Before you pick your car insurance coverage, you may want to consider what your choice could mean for future insurance prices. (Published 5 hours ago). A report from the Consumer Federation of America says car insurance companies may charge you ...
  Why switching your car insurance can cost youWDEF News 12all 2 news articles »
  
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• Why Are Car Insurance Rates Still Going Up? - Forbes

  24-05-2017 00:05 via forbes.com
  
  Forbes
  Why Are Car Insurance Rates Still Going Up?
  Forbes
  Despite driving well--yielding politely, obeying every stop sign, and racking no tickets or accidents--your auto insurance premiums seem to have steadily risen in recent years. It's not just you though. Since about 2012, rates to insure vehicles have ...
  
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