Insurance news

• Who’s using what in the insurance industry: June 12, 2017

  12-06-2017 20:30
  
  Technology news from TechCanary, Insuritas, Valen Analytics, ISO, DRC and more.
  
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• J.M. Wilson Acquires Assets from Klinger Associates in Indianapolis

  12-06-2017 18:49
  
  J.M. Wilson has acquired assets from Klinger Associates Inc., an Indianapolis-based wholesale insurance broker. The acquisition will allow J.M. Wilson to increase its brokerage business. The J.M. Wilson brokerage department has over 50 combined years of experience. J.M. Wilson is …
  
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• U.S. commercial insurance prices mostly flat in Q1

  12-06-2017 18:40
  
  Commercial auto is the only vertical to experience significant recent price increases, according to Willis Towers Watson.
  
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• Companies Seek Dismissal of Oklahoma Tribe’s Prescription-Drug Suit

  12-06-2017 18:33
  
  Walmart and other major corporations are asking a federal court to dismiss a lawsuit filed against them by the Cherokee Nation, which argues that the companies have not done enough to stop prescription opioid abuse. The Oklahoma-based tribe filed the …
  
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• Top 100 P/C Agency Submission Deadline Extended

  12-06-2017 18:29
  
  Don’t miss out on your chance to become one of Insurance Journal’s Top 100 Independent Property/Casualty Agencies. Extended Deadline Now: June 19 Insurance Journal will publish its annual list of the Top 100 Property/Casualty Independent Insurance Agencies in its August …
  
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• Oklahoma Company to Pay $106K in Federal Disability Discrimination Case

  12-06-2017 18:29
  
  A Claremore, Okla.-based manufacturer of sucker rods and accessories for the oil and gas industry will pay $106,000 and furnish other relief to settle a disability discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC). According to the …
  
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• Analysis: Arkansans May See Competing Tort Reform Measures on Ballot

  12-06-2017 18:24
  
  An effort to limit civil damages in lawsuits and give the Arkansas Legislature control over court rules was already shaping up to be one of the biggest and expensive campaigns in next year’s election. A competing measure the state Bar …
  
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• Illinois Jury: AbbVie Must Pay $15M in Depakote Birth-Defect Case

  12-06-2017 18:19
  
  A federal jury in East St. Louis, Ill., has awarded $15 million to a 10-year-old boy whose mother blamed his birth defect on AbbVie Inc.’s bipolar disorder drug Depakote that she took while pregnant, in the latest trial among hundreds …
  
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• $11M Verdict Against Toyota Over Fatal Crash Upheld

  12-06-2017 18:16
  
  A federal appeals court on June 9 upheld an $11 million verdict against Toyota Motor Corp. over a fatal 2006 car crash in Minnesota, which a jury found was caused by an accelerator defect in a 1996 Camry. A three-judge …
  
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• The Horton Group Adds Hub’s Pucek as CFO

  12-06-2017 18:09
  
  Orland Park, Illinois-based insurance brokerage and risk advisory firm, The Horton Group, has hired Tricia Pucek as chief financial officer. Pucek is responsible for overseeing all corporate accounting, financial reporting and identifying growth opportunities for the agency’s 13 offices located …
  
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• Supreme Court Rejects Class Action Appeal by Xbox Users

  12-06-2017 17:19
  
  The U.S. Supreme Court on Monday ruled in favor of Microsoft Corp. in its bid to fend off class action claims by Xbox 360 owners who said the popular video game console gouges discs because of a design defect. The court, in a 8-0 …
  
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• Lawyer Argues Deadly Oakland Fire Wrongly Blamed on Client

  12-06-2017 16:40
  
  Lawyers for the operator of an Oakland warehouse charged in a fire that killed three dozen partygoers who were packed into the building aired possible defenses on Friday to a prosecution case that legal experts say appears to be strong. Derick Almena, …
  
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• Washington County Insurer to Pay $2.25M Wrongful Conviction Settlement

  12-06-2017 16:35
  
  The insurance company for Spokane County, Wash. will pay $2.25 million to settle a federal civil rights lawsuit that contended the Spokane County Sheriff’s Office engaged in witness-tampering and recklessness to wrongfully convict three men for a 2008 robbery. Spokane …
  
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• 3 Injured from Giant Chemical Fire Burning for Hours in Southern California

  12-06-2017 16:32
  
  A major fire broke out and burned for hours at a company that produces cleaning chemicals in Anaheim, Calif., leaving three people injured. Anaheim fire officials say the blaze was reported shortly after 3 p.m. at American Chemical and Sanitary …
  
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• Hawaii’s Big Island Hit by M5.3 Earthquake

  12-06-2017 16:30
  
  A magnitude-5.3 earthquake shook Hawaii’s Big Island, the U.S. Geological Survey confirmed. No damage was reported in the quake, which the USGS said was centered about 11 miles (18 kilometers) southeast of Volcano town on the state’s southernmost island at …
  
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• How and Why More Insurers Are Turning to Bots

  12-06-2017 15:54
  
  As more bots handle claims and perform underwriting tasks, should human employees be concerned? Human industry experts say there’s no need to worry. Insurers in the U.S. and overseas are exploring the use of chatbots in their operations. According to …
  
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• Professional Insurance Agents of New Jersey Elects Renna as President

  12-06-2017 15:31
  
  Kacy Campion Renna of Wall Township, N.J., was elected president of the Professional Insurance Agents of New Jersey (PIANJ) at the association’s annual business meeting at Harrah’s Resort and Casino in Atlantic City, N.J. PIANJ is a trade association representing …
  
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• Chubb Boosts Capacity for Terrorism, Political Violence, War Insurance

  12-06-2017 15:18
  
  Chubb said it is now offering increased insurance capacity of up to US$150m/ €150m (previously US$100m/ €100m) for terrorism, political violence and war risks in response to evolving threats and increased demand from multinational clients. The new increased capacity will be …
  
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• Penn State Fraternity Brothers Due in Court in Pledge Death Case

  12-06-2017 15:13
  
  Members of a Penn State fraternity facing charges related to the death earlier this year of a pledge after a night of heavy drinking are due in court Monday for a hearing about whether there’s enough evidence to head to …
  
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• Matthews Joins Markel International Trade Credit Team in Singapore

  12-06-2017 15:01
  
  Markel International, a specialist insurer, has appointed Dillon Matthews as trade credit underwriter and senior risk analyst in Singapore, in a move to strengthen and broaden its Asia Pacific resources. Matthews will focus on expanding Markel’s trade credit business in the …
  
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• NTSB to Investigate After Train Strikes, Kills Worker in New York City

  12-06-2017 15:00
  
  Authorities say a Long Island Rail Road worker has been struck and killed by a train. The National Transportation Safety Board tweeted Saturday that it was sending a team to investigate the death. The worker was hit by a westbound …
  
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• Ex-Officer in New Jersey May be Spared Prison Terms for Insurance Fraud

  12-06-2017 14:55
  
  A former police officer who fraudulently claimed his half-sister was his wife as part of an insurance fraud scheme to get coverage for her and her son will be allowed to a pre-trial program. The charges against Alix Antoine could …
  
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• Compre Acquires Ireland-Based Captive Equinox CA Europe

  12-06-2017 14:30
  
  Specialist insurer Compre has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin, in a legacy transaction. The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from 2008 until December 2016 …
  
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• Lloyd’s Coverholder, Arma Underwriting, Launches in Dubai with MENA Focus

  12-06-2017 13:12
  
  Asta, the Lloyd’s third party managing agent and specialist MGA investor, announced that Dubai-based Arma Underwriting Ltd. has received full approval from all regulators and commenced operations last month. Asta-backed Arma is an approved Lloyd’s coverholder that writes multi-line re/insurance …
  
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• The art of bodily injury investigations

  12-06-2017 13:00
  
  Curiosity is an adjuster's best trait.
  
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• Anonymous Bidder of $2.6 Million Wins Lunch with Buffett

  12-06-2017 12:43
  
    A bidder pledged $2.68 million to a San Francisco charity in exchange for a lunch date with billionaire investor Warren Buffett. The winner of the online auction that concluded Friday on eBay Inc.’s website chose to remain anonymous. The final …
  
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• Company cyberinsurance — the supply chain dilemma

  12-06-2017 12:30
  
  As companies optimize their supply chains using interconnected technology, the cyberrisk of disruption and lost business multiplies.
  
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• Swiss Re Corporate Solutions Opens Manchester Office to Grow in UK’s Regions

  12-06-2017 12:07
  
  Swiss Re Corporate Solutions announced it has opened an office in Manchester, UK, in order to grow its regional commercial insurance portfolio. The operation will serve large and upper mid-sized companies through national broking partners with focus on primary property, …
  
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• Swiss Re Corporate Solutions Opens Manchester Office for UK Regional Growth

  12-06-2017 12:07
  
  Swiss Re Corporate Solutions announced it has opened an office in Manchester, UK, in order to grow its regional commercial insurance portfolio. The operation will serve large and upper mid-sized companies through national broking partners with focus on primary property, …
  
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• Multi-million dollar workers’ comp referral scheme uncovered in Calif.

  12-06-2017 12:00
  
  Sixteen people hae been charged in an alleged workers’ comp referral scheme that exploited persons in predominantly Spanish-speaking communities.
  
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• Could macro-insurance become a reality? The one-policy-covers-all-risk approach

  12-06-2017 11:30
  
  Macro-insurance is in its infancy and may take a long time to develop, but the concept is intriguing, and it appears that the industry is willing to begin to explore the potential.
  
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• Workers’ Compensation Income Benefits Fall Short for Injured Workers: WCRI

  12-06-2017 07:00
  
  Adequacy of income benefits is one of the long-standing concerns about the performance of workers’ compensation systems. However, there is little known about whether income benefits (also called wage-loss or indemnity benefits) provide adequate financial support for injured workers. According …
  
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• New Study Measures Adequacy of Workers’ Comp Income Benefits Post-Injury: WCRI

  12-06-2017 07:00
  
  Adequacy of income benefits is one of the long-standing concerns about the performance of workers’ compensation systems. However, there is little known about whether income benefits (also called wage-loss or indemnity benefits) provide adequate financial support for injured workers. According …
  
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• Most Car Makers in No Rush to Make Automatic Braking Standard Equipment

  12-06-2017 07:00
  
  Big automakers are rushing to launch self-driving cars as early as 2021, but the industry’s major players are moving slowly when it comes to widespread deployment of a less expensive crash prevention technology that regulators say could prevent thousands of …
  
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• Florida Supreme Court Rules Medical Malpractice Award Caps Unconstitutional

  12-06-2017 07:00
  
  Caps on how much money patients injured by a doctor’s mistakes can receive were declared unconstitutional by the Florida Supreme Court on Thursday, a decision that strikes down one of former Gov. Jeb Bush’s major policy victories. The court ruled …
  
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• Miami Insurance Agent Accused of Stealing Nearly $25K From Clients

  12-06-2017 06:47
  
  A Miami insurance agent accused of stealing insurance premium payments from a client and providing fake insurance documents has been arrested, according to a statement from Chief Financial Officer Jeff Atwater and Miami-Dade State Attorney Katherine Fernandez Rundle. Diomari Diaz …
  
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• Miami Insurance Agent Accused of Stealing Nearly $25K From Client

  12-06-2017 06:47
  
  A Miami insurance agent accused of stealing insurance premium payments from a client and providing fake insurance documents has been arrested, according to a statement from Chief Financial Officer Jeff Atwater and Miami-Dade State Attorney Katherine Fernandez Rundle. Diomari Diaz …
  
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• Judge Upholds $1.5M Award to North Carolina Whistleblower

  12-06-2017 06:00
  
  A federal judge has upheld a jury’s $1.5 million award to a North Carolina fire investigator who said she was fired after complaining about the safety of construction work at an office building. The Charlotte Observer reports that the June …
  
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• 6 simple ways to make your home safer

  12-06-2017 06:00
  
  These steps will go a long way in mitigating potential liabilities and avoiding costly homeowners' insurance claims.
  
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