Insurance news

• GuideOne’s Joos Joins CopperPoint in Arizona as Chief Financial Officer

  13-06-2017 20:27
  
  Phoenix, Ariz.-based CopperPoint Insurance Cos. has named Mark L. Joos its chief financial officer. Joos will be responsible for overseeing the finance division, including finance, accounting and investments for CopperPoint. Joos has more than 25 years of industry experience, most …
  
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• West Virginia Supreme Court: No Workers’ Comp Benefits For Inmates

  13-06-2017 18:49
  
  The West Virginia Supreme Court has ruled that inmates participating in work-release programs do not qualify for workers’ compensation benefits. The Charleston Gazette-Mail reports the court unanimously affirmed a Workers’ Compensation Board of Review’s 2015 decision to not grant William …
  
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• The 'famous five': solving the InsurTech mystery

  13-06-2017 18:45
  
  These technologies are leading the way in insurance industry disruption.
  
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• Fidelis Group Adds Starr Marine’s Blaine as AVP in Houston

  13-06-2017 18:27
  
  Fidelis Group Holdings LLC (FGH), with its subsidiary Continental Underwriters Ltd., has hired Lynn Blaine as assistant vice president to support the expansion of the group’s marine portfolio. Blaine is based in Houston. She has more than 30 years of experience in the …
  
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• Arkansas’ Tyson Foods Recalls Nearly 2.5M Pounds of Chicken Products

  13-06-2017 18:21
  
  Tyson Foods is recalling nearly 2.5 million pounds of ready-to-eat breaded chicken due to an unlabeled allergen. The company, based in Springdale, Arkansas, says the recall was made after it was notified June 6 by a supplier that the bread …
  
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• Summers Joins Missouri’s Huffman Insurance Group

  13-06-2017 18:20
  
  Huffman Insurance Group, based in Moberly, Mo., has hired Nathan Summers as its newest licensed insurance agent. Prior to joining Huffman Insurance Group, Summers worked at an insurance company as a multi-line agent. He previously served as senior assistant manager at …
  
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• Third Person Pleads Guilty in Kansas City Arson, Insurance Fraud Scheme

  13-06-2017 18:16
  
  A Kansas City man has pleaded guilty to participating in a $235,000 arson and insurance fraud conspiracy. Federal prosecutors say 43-year-old Joseph Levi Little is the third person to plead guilty in the scheme. Tina Shonk, of Independence, was sentenced …
  
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• Seeman Holtz Acquires Wisconsin’s Vincent, Urban, Walker & Assoc.

  13-06-2017 18:13
  
  Seeman Holtz Property and Casualty Inc. has acquired Vincent, Urban, Walker & Associates, an independent insurance agency headquartered in Green Bay, Wis. Doug Walker and his partners at Vincent, Urban, Walker & Associates have served the Green Bay area and beyond for over …
  
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• Pair in Arkansas Staged Crash Scams Get Jail Terms for Insurance Fraud

  13-06-2017 18:08
  
  An Arkansas duo behind two fake crashes and false insurance claims have each received three-year prison sentences, the Arkansas Insurance Department announced. Jeremy Fisher, 36, and Teneshia White, 34, both of Pine Bluff, were sentenced for their roles in staged …
  
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• Texas lawyer accused of filing hail damage suits for homeowners he never met

  13-06-2017 17:50
  
  A South Texas attorney was indicted on 16 counts of insurance-related fraud after an investigation alleged he filed numerous roof hail damage lawsuits against insurers on behalf of homeowners he never met.
  
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• Uber, Lyft coming to Alaska, but Not State’s Most Popular Tourist Spot

  13-06-2017 17:32
  
  Uber and Lyft are coming to Alaska, but not to the state capital’s most popular tourist attraction. The Juneau Empire reported Gov. Bill Walker is expected to sign a bill that will make Alaska the last state to allow the …
  
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• Judge Tosses Fines Against Tesoro in Deadly Washington Refinery Blast

  13-06-2017 17:22
  
  A Washington state administrative judge threw out $2.4 million in fines levied against refiner Tesoro Corp. for a 2010 explosion that claimed the lives of seven workers at the company’s Anacortes, Washington, refinery. Judge Mark Jaffe said Washington state’s Department …
  
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• Wilson Elser Names Calle of Counsel in California

  13-06-2017 17:18
  
  Wilson Elser has named Ingrid Calle of counsel in its Los Angeles California office. Calle focuses her practice on product liability, toxic tort, trucking, premises and construction accident liability and commercial litigation. Calle was previously a partner at Tropio & …
  
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• Knight in California Names Ownbey Managing Director

  13-06-2017 17:11
  
  Knight Insurance Group in California has named Vance Ownbey its managing director overseeing programs, underwriting, new business and product development. Ownbey previously was chief financial officer, chief technical officer, treasurer and managing director at Knight. He most has held several …
  
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• Utilities Warned of ‘Easy-to-Use’ Malware Aimed at Causing Outages

  13-06-2017 16:26
  
  Two cyber security firms have uncovered malicious software that they believe caused a December 2016 Ukraine power outage, they said on Monday, warning the malware could be easily modified to harm critical infrastructure operations around the globe. ESET, a Slovakian anti-virus software …
  
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• W.R. Berkley Forms Two Subsidiaries in Mexico

  13-06-2017 15:40
  
  W.R. Berkley Corp. said it has formed two subsidiaries in Mexico: Berkley International Fianzas México S.A. and Berkley International Seguros México S.A. Both have been granted official authorization to commence operations and will begin offering coverages to clients throughout Mexico in the …
  
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• Paiano Succeeds Rupp as The Hartford’s Chief Risk Officer

  13-06-2017 15:28
  
  The Hartford has named Robert Paiano as its new chief risk officer to lead the company’s enterprise risk management operations, effective July 1. Paiano succeeds current Chief Risk Officer Robert Rupp, who is retiring. Paiano will report to The Hartford’s …
  
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• MAPFRE Gains 51% of Indonesian Insurer ABDA to Expand in South East Asia

  13-06-2017 15:18
  
  Insurer MAPFRE, which already owned 31 percent of the insurer, has gained 51 percent and effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA). The transaction was closed at a price of 90 million euros. Through …
  
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• Shipping Losses Fall to Lowest in 10 Years as Technology Drives Safety

  13-06-2017 15:06
  
  Large shipping losses have declined by 50 percent over the past decade and last year saw the lowest number of losses in the past 10 years. The favorable loss trend has been largely driven by improved safety, according to Allianz Global …
  
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• Peak Re Wins Approval to Write Reinsurance in Malaysia

  13-06-2017 14:29
  
  Peak Reinsurance Co. Ltd., a Hong Kong-based reinsurer, has been granted the approval-in-principle by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance market. Labuan is the the federal territory of Malaysia. …
  
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• Protectionism, Cloud Accumulation, Water Stress Among 20 Emerging Risks Facing Insurance Industry: Swiss Re

  13-06-2017 14:17
  
  Reduced market access, regulatory fragmentation, the return of inflation and cloud risk accumulation pose the largest challenges with the highest downside risk potential in the short term, according to experts at Swiss Re. Other risks further out on the time …
  
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• Massachusetts’ Rogers & Gray Insurance Hires First Chief Information Officer

  13-06-2017 12:53
  
  Rogers & Gray Insurance, a Kingston, Mass.-headquartered independent insurance agency, has hired Peter Cullivan as its first chief information officer, effective June 2. In this newly-created senior management position, Cullivan will direct the technological advancement of the agency. Cullivan has …
  
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• Ex-Car Dealership Official in New Jersey Sentenced for Stealing Nearly $3M

  13-06-2017 12:47
  
  The former general manager of a now-defunct New Jersey car dealership who got nearly $3 million through a fraud scheme has been sentenced to five years in prison. Richard Pepe had pleaded guilty to bank fraud and filing a fraudulent federal income tax return. …
  
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• Maryland’s Frederick Mutual Insurance Company Promotes Roso

  13-06-2017 12:00
  
  Frederick Mutual Insurance Company (FMIC), a Frederick, Md.-based provider of insurance coverage to homeowners and businesses in the states of Maryland and Pennsylvania through a network of independent agents, has promoted Mark J. Roso to executive vice president and chief …
  
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• Just Lost Your Job? COBRA May Be Your Best Health Insurance Strategy Now - NPR

  13-06-2017 11:31
  
  NPR
  Just Lost Your Job? COBRA May Be Your Best Health Insurance Strategy Now
  NPR
  After losing a job, what's the best strategy for getting insurance? Are Republicans planning to change Medicare benefits as part of their changes to the federal health law? And will entrepreneurs be able to get insurance easily if that GOP overhaul ...and more »
  
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• The steps to successful agency perpetuation — part 2

  13-06-2017 11:00
  
  Allow me to share some of my personal experience with integration, and some of the issues you should be aware of.
  
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• XL Catlin’s O’Malley Moves to StarStone to Lead Cargo Unit in London

  13-06-2017 07:00
  
  Global specialty insurer StarStone has appointed Rod O’Malley as of head of cargo in London. O’Malley is joining StarStone in from XL Catlin, where he most recently served as head of the UK cargo team and senior class underwriter. He …
  
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• Private Brokers More Active But Private Equity Still Leads in Agency Acquisitions

  13-06-2017 07:00
  
  Well-capitalized private equity investors still have an advantage among buyers of insurance agencies, but privately-held brokers continue to be among the most active players in agency mergers and acquisitions, according to Reagan Consulting. Also, while consolidation continues in the ranks …
  
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• Lloyd’s Urges Insurer Investment in Natural Habitats for Flood Protection

  13-06-2017 07:00
  
  Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s of London said. Investment to conserve natural habitats also makes …
  
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• Do’s and don’ts of Twitter, LinkedIn and Facebook for advisors

  13-06-2017 07:00
  
  There’s a strategy for using LinkedIn, Twitter and Facebook to reap marketing results.
  
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• Burand’s State of P/C Insurance Industry, Part 1: Agencies Facing Paradigm Shift

  13-06-2017 07:00
  
  Property/casualty insurance and group benefits industry is changing faster than ever — or at least faster than any time in any reader’s history.  Many factors are the parents of such change. In part one of this two part series, I …
  
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• AIG Defends Layoff of London Employee Alleging Pregnancy Discrimination

  13-06-2017 07:00
  
  American International Group Inc. said it was not “unwelcoming to working mothers” as the insurer fought a discrimination lawsuit filed by a former London trader dismissed while on maternity leave. Jennifer Marlow, who until September 2016 was a senior foreign …
  
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• Founders Professional Adds Porter to Florida Team

  13-06-2017 06:13
  
  National professional liability and management liability wholesale brokerage, Founders Professional, has added Adrienne Porter to its Miscellaneous Professional Liability team. Porter will be joining the team in St. Petersburg, Fla., as a broker and will assist Founders’ retail partners in …
  
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• Miami Neighborhood Considers Relocating Homes Amid Sea Rise Concerns

  13-06-2017 06:09
  
  A mainland Miami neighborhood prone to regular flooding from high tides and storms could be relocated amid preparations for rising seas under one scenario being studied by local officials. Government officials in South Florida are looking at redesigning the Shorecrest …
  
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• Florida Gov Pledges to Sign Medical Marijuana Bill Passed During Special Session

  13-06-2017 06:00
  
  Florida Gov. Rick Scott said he “absolutely” intends to sign the medical marijuana bill passed Friday by the state Legislature. After the original legislation fell apart on the final day of the regular session last month, the chambers approved the …
  
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