Insurance news

• The Cycles in Mortgage Insurance - Motley Fool

  31-05-2017 23:33
  
  The Cycles in Mortgage Insurance
  Motley Fool
  Mortgage insurers make a fortune when home prices rise, but when home prices fall, many go bankrupt. Author Picture. Motley Fool Staff. (the_motley_fool). May 31, 2017 at 5:33PM. So long as home prices are rising, mortgage insurers take in premiums and ...
  
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• Chubb appoints John Watkins head of casualty claims for North America claims

  31-05-2017 20:30
  
  Watkins brings more than 27 years of claims management experience.
  
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• Ohio AG DeWine Sues 5 Drug Companies Over Opioid Crisis

  31-05-2017 20:26
  
  The state of Ohio on May 30 sued five major drug manufacturers, accusing them of misrepresenting the risks of prescription opioid painkillers that have fueled a sky-rocketing drug addiction epidemic. The suit, filed by Attorney General Mike DeWine, comes as a growing number …
  
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• Around the P&C insurance industry: May 31, 2017

  31-05-2017 19:15
  
  News from Liberty Mutual, Zurich North America, Arthur J. Gallagher & Co. and more.
  
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• Willis Programs Taps Allianz as Carrier for Agribusiness Programs

  31-05-2017 18:58
  
  Willis Programs has partnered with Allianz Global Corporate & Specialty (AGCS) on coverage for its DairyProtector and FeedLotGuard programs. Allianz, a property casualty insurance carrier in the agribusiness industry, will offer an A.M. Best ‘A+’ rated carrier backing to the …
  
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• For 10th Year, Ohio’s Central Insurance Receives IIABA’s Best Practices Award

  31-05-2017 18:48
  
  The Central Insurance Companies was recently honored with the Best Practices Award of Excellence from the Independent Insurance Agents and Brokers of America (IIABA or the Big “I”). This is the tenth consecutive year the company has received this award. …
  
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• Wisconsin’s AVID Risk Solutions, Family Insurance Acquiring ISC

  31-05-2017 18:42
  
  Federal Chief U.S. District Judge James Peterson has approved the sale of ISC insurance agency assets to Wisconsin-based AVID Risk Solutions Inc. and Family Insurance Center, AVID Risk Solutions announced. ISC insurance agency was in receivership due to a multi-million …
  
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• Here's how hybrid service models give insurers an upper hand

  31-05-2017 18:40
  
  A hybrid of Software as a Service (SasS) and Platform as a Service (PasS) would balance the advantages of each with the need for insurers to offer differentiation to their customers.
  
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• Arthur J. Gallagher Acquires Houston’s Zuber Insurance Agency

  31-05-2017 18:26
  
  Arthur J. Gallagher & Co. has acquired Zuber Insurance Agency Inc. in Houston, Texas. Terms of the transaction were not disclosed. Zuber Insurance was founded in 1934 by J.L. Zuber. Expanded under the leadership of his son Joseph and grandson Alan, Zuber …
  
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• Damage in Nebraska Food Plant Fire Estimated at $100K

  31-05-2017 18:22
  
  A fire official has estimated that a fire at Lincoln, Neb., food plant has caused nearly $100,000 in damage. Officials say no one was injured in the fire, which started around 1 p.m. Saturday at the Smithfield Foods plant. Battalion …
  
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• Toon Joins Combined Agents of America as Production Director

  31-05-2017 18:20
  
  Austin, Texas-based agency partnership, Combined Agents of America (CAA), has added Nikki Toon as production director. Toon has more than a decade of experience working in the insurance industry from a carrier, agency and group perspective. As production director, Toon …
  
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• Coastal Texans Concerned About Rising Sea Levels Amid Hurricane Threats

  31-05-2017 18:14
  
  Lalo Ojeda has lived with hurricanes all his life. The Houston Chronicle reports he was 14 when Hurricane Carla inundated Galveston Island in 1961. He evacuated as Hurricane Rita barreled toward the coast in 2005, then rode out the devastating …
  
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• Trump Expected to End U.S. Participation in Paris Climate Pact

  31-05-2017 17:54
  
  President Donald Trump plans to make good on his campaign vow to withdraw the United States from a global pact to fight climate change, a source briefed on the decision said on Wednesday, a move that promises to deepen a …
  
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• Average 2017 Wildfire Season Predicted for Wyoming

  31-05-2017 17:35
  
  State forester Bill Crapser says most of Wyoming is predicted to have slightly below average to average large wildfires this year. Crapser says there could be a lot of wildfires started by lightning but most are not expected to grow …
  
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• Hawaii Sues Auto Makers over Shrapnel-Spewing Air Bags

  31-05-2017 17:31
  
  Hawaii is suing auto manufacturers Ford, Nissan and Toyota over air bags that can spew shrapnel when they deploy. The complaint filed Wednesday says the manufacturers knew or should have known for more than a decade that air bags installed …
  
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• Oil Tank Blast in Colorado Kills Worker, Safety Questions Follow

  31-05-2017 17:27
  
  An oil tank explosion in northern Colorado killed a worker and burned three others, shooting up flames just miles away from an unrelated gas blast last month and prompting fresh questions about safety in one of Colorado’s largest industries – …
  
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• Small Quake Shakes Rural Southern California Inland Area

  31-05-2017 17:23
  
  A small earthquake has rattled a rural area of inland Southern California, the he U.S. Geological Survey confirmed. The USGS says the magnitude 3.4 quake hit about 12 miles southeast of Idyllwild and 18 miles southwest of Palm Springs. A …
  
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• Willis Towers Watson, Tech Firm Roost to Form Home Telematics Testing Consortium

  31-05-2017 16:37
  
  Global insurance consultant Willis Towers Watson is partnering with technology firm Roost to establish a claims data sharing consortium to help insurers test the effectiveness of water and fire smart home technologies. The two companies said the consortium will be comprised of …
  
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• Caribbean Cat Facility CCRIF & Caribbean Development Bank Launch Regional Risk Management Project

  31-05-2017 16:34
  
  The Caribbean Development Bank and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) have launched a Caribbean risk management project. Formally known as “Integrated Sovereign Risk Management in the Caribbean,” the project aims to enable Caribbean countries to take …
  
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• Pennsylvania Insurance Chief Would Lead New Health, Human Services Agency

  31-05-2017 15:53
  
  Pennsylvania Governor Tom Wolf said last week that he would nominate his insurance commissioner, Teresa Miller, to lead a new agency he is proposing to oversee the public health and social and human services programs currently carried out by four …
  
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• BA’s Massive IT Failure Caused by Power Surge; Brand Damage Admitted

  31-05-2017 15:45
  
  A huge IT failure that stranded 75,000 British Airways passengers followed damage to servers that were overwhelmed when the power returned after an outage, the airline said on Wednesday. BA, part of airline group IAG, is seeking to limit the damage to …
  
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• New York: $7M for Homeowners Hit by Lake Ontario Flooding

  31-05-2017 15:37
  
  New York state is making $7 million available to help homeowners recover from flooding along the Lake Ontario and St. Lawrence River shorelines. Gov. Andrew Cuomo announced the funding Monday. Homeowners will be able to get up to $40,000 in …
  
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• Massachusetts’ The Hanover Insurance Group Elects Price to Board of Directors

  31-05-2017 15:15
  
  The Hanover Insurance Group Inc., a Worcester, Mass.-based holding company for several property and casualty insurance companies, has elected Michael D. Price to the company’s board of directors, effective July 3. Price is an experienced senior insurance executive and will …
  
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• FSU risk management/insurance program earns prestigious award - Florida State News

  31-05-2017 15:11
  
  Florida State News
  FSU risk management/insurance program earns prestigious award
  Florida State News
  Cassandra Cole is the department chair of Risk Management/Insurance, Real Estate, and Legal Studies at Florida State. The Florida State University College of Business has been awarded the Global Centers of Insurance Excellence (GCIE) designation by ...
  
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• JLT Re Appoints Sammur as Executive Vice President in Connecticut

  31-05-2017 15:07
  
  JLT Re (North America) Inc. (JLT Re), part of the Jardine Lloyd Thompson Group plc, the global provider of reinsurance broking and consultancy, has appointed Tony Sammur as executive vice president in Stamford, Conn. In this role, Sammur will focus …
  
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• China’s Controversial Cyber Law ‘Not Targeting’ Foreign Firms

  31-05-2017 14:58
  
  China’s top cyber authority said on Wednesday it is not targeting foreign firms with a controversial national cyber law set to come into effect on Thursday. More than 50 overseas companies and business groups have lobbied against the law, which …
  
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• Why 27% of U.S. Firms Have No Plans to Buy Cyber Insurance

  31-05-2017 14:33
  
  A full 50 percent of U.S. firms do not have cyber risk insurance and 27 percent of U.S. executives say their firms have no plans to take out cyber insurance, even though 61 percent of them expect cyber breaches to increase …
  
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• XL Catlin Offers Political Risk, Credit & Bond Insurance in Canada; Zurich’s Azzopardi Named Lead U/W 

  31-05-2017 14:14
  
  XL Catlin has opened its first Political Risk, Credit and Bond (PRCB) insurance practice in Canada and has appointed Marvin Azzopardi as senior underwriter. Based in Toronto, Azzopardi, will join XL Catlin on June 1 and will report to Richard Abizaid, regional product leader, Americas. Azzopardi is tasked …
  
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• Know these covered losses and exclusions after a collapse

  31-05-2017 12:45
  
  After part of a commercial building or residence collapses, you have to determine the cause of the loss to determine the coverage.
  
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• Property damage estimates totaled $51.5 billion in 2016

  31-05-2017 12:30
  
  Fire damage claims averaged $45,482.
  
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• Hartford insurance must face Calif. 'lowballing' class action

  31-05-2017 12:15
  
  California policyholders claim the insurer routinely underpays claims for damaged property by depreciating items not subject to such reductions under their policies or state law.
  
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• Help clients protect their homes during the summer travel season

  31-05-2017 12:00
  
  Insurance agents can serve clients well by identifying some of the risks to unoccupied homes and pointing out steps necessary to mitigate them.
  
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• Creating a ‘Resilience Movement’

  31-05-2017 12:00
  
  As the 2017 Atlantic hurricane season begins, Sean Kevelighan, CEO of I.I.I., shares his thoughts on how the insurance industry can help create more resilient communities.
  
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• FM Global Gets License in Luxembourg to Launch Post-Brexit EU Hub

  31-05-2017 11:24
  
  U.S. commercial property insurer FM Global has been approved to run a European hub in Luxembourg, a move allowing it to issue policies in the European Union and other countries following Britain’s decision to leave the bloc, the company said …
  
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• Greece Aims to Attract U.K. Shipowners, Insurers & Brokers Seeking Brexit HQs

  31-05-2017 10:58
  
  The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the U.K. prepares to exit the bloc. “We’re in contact with five large ship-insurance brokers who are considering …
  
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• UCLA employees voice concerns over reduced disability insurance - Daily Bruin

  31-05-2017 09:33
  
  Daily Bruin
  UCLA employees voice concerns over reduced disability insurance
  Daily Bruin
  Some UCLA employees are concerned a decrease in disability insurance could hurt new mothers, who use it as a form of maternity leave. Emily Taylor, an expecting mother and director of the master of business administration career education and ...
  
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• Organ Transplant Patient Denied $3K In Travel Insurance - NBC Bay Area

  31-05-2017 07:49
  
  NBC Bay Area
  Organ Transplant Patient Denied $3K In Travel Insurance
  NBC Bay Area
  They were exceptionally lucky with a dicey organ transplant but less fortunate with an ordinary airline ticket. Their story is a lesson in the fine print of travel insurance. A DONOR AT HOME. Last summer, Juan Barerra of Hayward needed a new kidney.
  
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• Lawsuit faults title insurance oversight in New Mexico - Santa Fe New Mexican

  31-05-2017 07:26
  
  Lawsuit faults title insurance oversight in New Mexico
  Santa Fe New Mexican
  A Santa Fe attorney has filed a class-action lawsuit against the state Office of the Superintendent of Insurance, saying that under the agency's oversight of the title insurance industry, New Mexicans are being forced to pay for the service but are ...
  
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• What Liability Insurance Restatement Final Approval Delay Means - Insurance Journal

  31-05-2017 07:00
  
  Insurance Journal
  What Liability Insurance Restatement Final Approval Delay Means
  Insurance Journal
  It had been expected by many that, after seven years of arduous work, the American Law Institute's “Restatement of the Law, Liability Insurance” would be approved last Tuesday at the Institute's annual meeting at the Ritz-Carlton Hotel in Washington.
  
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• What Liability Insurance Restatement Final Approval Delay Means

  31-05-2017 07:00
  
  It had been expected by many that, after seven years of arduous work, the American Law Institute’s “Restatement of the Law, Liability Insurance” would be approved last Tuesday at the Institute’s annual meeting at the Ritz-Carlton Hotel in Washington.  But, despite …
  
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• New Bond ETF Rules Expected to Attract Investments from Insurers

  31-05-2017 07:00
  
  BlackRock Inc. expects $300 billion in new money from insurers to flood into the already booming bond exchange-traded fund sector over the next five years, a spokeswoman said on Tuesday, following a move by regulators to adjust some requirements on …
  
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• High Agency Valuations ‘Not a Fad,’ MarshBerry Exec Tells Conference

  31-05-2017 07:00
  
  Valuations of insurance agencies are as high as they have ever been and there does not appear to be any lessening of interest among suitors, according to an industry mergers-and-acquisitions (M&A) consultant. John Wepler, chairman and CEO of MarshBerrry, described an …
  
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• Motorist Deaths by South Carolina Police Trigger Costly Settlements

  31-05-2017 06:52
  
  Police forces in South Carolina have reached several high-dollar settlements in cases where officers have shot and killed drivers and others in moving vehicles in the past several years. Here are some of the most expensive settlements: Zachary Hammond Hammond’s …
  
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• Alabama ‘Pill Mill’ Doctor Gets 21 Years in Prison

  31-05-2017 06:36
  
  An Alabama doctor was sentenced on Friday to 21 years in prison for running two clinics with a colleague that prosecutors called a massive “pill mill,” in a case tied to the U.S. probe of Insys Therapeutics Inc. Xiulu Ruan, …
  
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• FCCI Adds Former Florida State Senator Carlton to Board of Directors

  31-05-2017 06:29
  
  Former Florida State Senator Lisa Carlton has been elected to FCCI Insurance Group’s (FCCI) board of directors, effective July 1, according to the company. Carlton is the co-owner and manager of Mabry Carlton Ranch, Inc., a diverse agricultural business including …
  
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• Motorcycle insurance: U.S. states with the lowest & highest average cost

  31-05-2017 06:01
  
  The 2017 average annual cost of motorcycle insurance in the U.S. is $519, according to a recent study.
  
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• The GOP assault on health insurance, North Carolina style - News & Observer

  31-05-2017 01:49
  
  News & Observer
  The GOP assault on health insurance, North Carolina style
  News & Observer
  I got a letter recently from the office of State Treasurer Dale Folwell threatening to take away my children's health insurance. So did everyone else who works for the State of North Carolina. Apparently Folwell believes that “ineligible dependents ...
  
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• Insurance Companies Ditching Obamacare Follow A Similar Pattern - The Daily Caller

  31-05-2017 01:27
  
  Insurance Companies Ditching Obamacare Follow A Similar Pattern
  The Daily Caller
  Major insurance providers are opting out of the Obamacare marketplace and profiting as a result. Three of the most prominent insurers on the Obamacare exchanges are either ditching Obamacare entirely or are significantly scaling back their involvement ...and more »
  
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• Florida property insurance rates are going up - ABC Action News

  31-05-2017 00:44
  
  ABC Action News
  Florida property insurance rates are going up
  ABC Action News
  TAMPA, Fla. - As Florida braces for what forecasters predict will be a busy hurricane season, homeowners are getting hit with a surge in property insurance hikes. How does this affect the average home buyer? State Regulators with the Florida Office of ...and more »
  
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• Maine chooses Anthem to administer health insurance plan for state ... - Press Herald

  31-05-2017 00:37
  
  Press Herald
  Maine chooses Anthem to administer health insurance plan for state ...
  Press Herald
  Anthem beat current administrator Aetna and Harvard Pilgrim for the $5.5 million annual contract that has an initial three-year term. By J. Craig AndersonStaff ...
  King wants to know if ACA challenge makes insurance pricierBradenton Heraldall 2 news articles »
  
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