Insurance news

• What can IT security experts and insurance pros teach each other about Cyber risks?

  20-06-2017 23:00
  
  The June meeting of the International Information System Security Certification Consortium (ISC2)’s New York Chapter was devoted to Cyber insurance. Here’s what we learned.
  
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• FEMA flood insurance program set to expire in September | WFLA.com - WFLA

  20-06-2017 22:35
  
  WFLA
  FEMA flood insurance program set to expire in September | WFLA.com
  WFLA
  More than one million Floridians are insured, but the National Flood Insurance Program is set to expire in September.
  Flood insurance 101: Eight facts about covering your home and belongingsKTRK-TV
  Towards a Private Flood Insurance MarketCato Institute (blog)
  Rep. Tom MacArthur continues fight for flood insurance reauthorizationBurlington County Timesall 10 news articles »
  
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• FEMA flood insurance program set to expire in September - WFLA

  20-06-2017 22:35
  
  WFLA
  FEMA flood insurance program set to expire in September
  WFLA
  TAMPA, Fla. (WFLA) – If you have flood insurance through FEMA, you could be at risk. More than one million Floridians are insured, but the National Flood Insurance Program is set to expire in September. Carolyn Lockett has lived in her home off ...
  Flood insurance 101: Eight facts about covering your home and belongingsKTRK-TV
  Towards a Private Flood Insurance MarketCato Institute (blog)all 10 news articles »
  
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• $6 Million Invested in New U.S. Wholesale Broker XPT Led by Veterans Ruggieri, Smith

  20-06-2017 21:33
  
  London-based private equity firm B.P. Marsh & Partners has invested $6 million in a startup New York-based specialty lines insurance distributor that is headed by several well-known wholesale insurance executives. The management team at the new firm, which is named …
  
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• California Temporary Total Disability Rates for 2018 to Increase

  20-06-2017 21:08
  
  California’s 2018 minimum and maximum temporary total disability rates will increase on Jan. 1, 2018, the state’s Division of Workers’ Compensation announced on Tuesday. The minimum TTD rate will increase from $175.88 to $182.29 and the maximum rate will increase …
  
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• That drip, drip, drip you hear is the cost of your homeowners insurance rising - Miami Herald

  20-06-2017 20:55
  
  Miami Herald
  That drip, drip, drip you hear is the cost of your homeowners insurance rising
  Miami Herald
  South Florida homeowners insured by Citizens Property Insurance Corp. will likely see annual premiums rise by more than 10 percent next year if the rate increase requested on Tuesday is approved. “The horizon looks really cloudy out there,” said Barry ...
  Citizens Insurance targets South Florida with steep rate hikesSun Sentinel
  Citizens to ask Florida for insurance-rate hik
  
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• Lending Club’s Dolan Joins Metromile in California as Chief Financial Officer

  20-06-2017 20:46
  
  San Francisco, Calif.-based Metromile has named Carrie Dolan chief financial officer. Dolan is joining Metromile to help lead the company’s next phase of growth. Dolan most recently served as CFO of Lending Club, an online credit marketplace connecting borrowers and …
  
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• Arrowhead in California Launches Hard-to-Place Workers’ Comp Subsidiary

  20-06-2017 20:26
  
  Arrowhead General Insurance Agency Inc. in San Diego, Calif. has launched a workers’ compensation wholesale brokerage arm that provides market access and specializes in harder-to-place risks and multi-state accounts. The subsidiary is called Valiant Insurance Services LLC. Currently Valiant is …
  
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• Michigan Court Rules for Westfield Insurance in ‘Employee v. Contractor’ Case

  20-06-2017 20:20
  
  The Michigan Court of Appeals has reversed the ruling of a trial court in a case involving whether a commercial insurer or a personal insurer is responsible for paying no-fault personal injury protection benefits when a worker is injured in …
  
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• Are your customers prepared to weather the pitfalls of hurricane season?

  20-06-2017 20:00
  
  It’s that time of year again. Are your clients ready?
  
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• NYC planners: Storm-surge barrier may come too late

  20-06-2017 19:00
  
  The warming Atlantic Ocean has raised the risk of another Hurricane Sandy. And still, trillions of dollars of real estate and infrastructure near the shores of New York City and northern New Jersey remain vulnerable to devastation.
  
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• Nearly 80% of Georgia Peach Crop Wiped Out by Weather

  20-06-2017 18:56
  
  Georgia’s peach crop is suffering much worse than expected after an overly warm winter and a hard freeze in early spring. Agriculture Commissioner Gary Black told The Atlanta Journal-Constitution at the end of May that nearly 80 percent of the …
  
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• Weight of Swollen Reservoir Blamed for Arkansas Earthquake Swarm

  20-06-2017 18:35
  
  Earthquakes in northern Arkansas are being linked to the weight of extra water at a flood-swollen reservoir. Earthquake geologist David Johnston works with the Arkansas Geological Survey. He says the added weight of the water at Bulls Shoals Lake likely …
  
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• Hamilton Announces New Responsibilities for 2 Execs in Bermuda Business

  20-06-2017 18:34
  
  Hamilton Insurance Group, the Bermuda-based holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, has announced two senior role changes in its Bermuda operations. Keith Bernhard now holds the title of chief audit officer, reporting to Interim Group CEO David Brown. …
  
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• Former Arkansas Home of President Clinton a Total Loss After Fire

  20-06-2017 18:23
  
  A northwest Arkansas house once occupied by former President Bill Clinton that was damaged by fire has been deemed a total loss. The home now owned by Stephanie and Robert Dzur and occupied by Stephanie Dzur’s father burned June 8. …
  
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• Fire Damage at North Dakota Business Expected to Be in Millions

  20-06-2017 18:21
  
  Damage from a fire at a Bismarck, N.D., recreational vehicle business is expected to be in the millions of dollars. The blaze at Capital RV happened Sunday morning. A shop and several motor homes inside were damaged, and the business’s …
  
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• Ratings of Indiana’s American Agricultural Insurance Co. Upgraded

  20-06-2017 18:19
  
  A.M. Best has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the long-term issuer credit rating (Long-Term ICR) to “a” from “a-” of American Agricultural Insurance Co. (AAIC)  in Indianapolis, Ind. The outlook for these ratings has been …
  
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• Louisiana Employment Picture Improves with Large Job Gains

  20-06-2017 18:18
  
  Seasonally adjusted data for the month of May shows that total nonfarm employment gained 10,500 jobs over the month in Louisiana for a new figure of 1,983,200, according to the Louisiana Workforce Commission (LWC). This is the largest over the …
  
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• Chubb Opens Office in Reading, UK; Davison, Glover Appointed to Local Team

  20-06-2017 18:14
  
  Chubb announced it has opened a new office in Reading, Berkshire, in the UK, and has appointed two key members to the local team, as it continues to build its local presence across the UK and Ireland. Mark Davison has been appointed senior …
  
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• JLT Specialty Makes Leadership Changes at North America Aerospace Practice

  20-06-2017 17:58
  
  Global specialty broker and risk advisor JLT Specialty USA has made several leadership appointments in its Aerospace practice in North America. The appointments include elevating Phil Gingell, who most recently served as president of the JLT’s aerospace division in North …
  
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• American Express invests in insurance startup Next Insurance - Reuters

  20-06-2017 17:48
  
  Reuters
  American Express invests in insurance startup Next Insurance
  Reuters
  FILE PHOTO -- Credit cards of American Express are photographed in this illustration picture in this March 17, 2016, file photo. REUTERS/Kai Pfaffenbach/Illustration/Files - RTS12YB9. By Anna Irrera | NEW YORK. NEW YORK American Express Co has ...
  American Express Invests in Startup Next Insurance as Traditional Sales Model AgesTheStreet.com
  American Express Company - AXP - Stock Price Today - ZacksZacks Investmen
  
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• DEADLINE EXTENDED! Still time to enter your Workers’ Comp program!

  20-06-2017 17:30
  
  You have until June 26 to nominate your workers' comp program for the National Underwriter Excellence in Workers' Compensation Risk Management Award.
  
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• Warranty Group’s Warsop Joins York Risk Services

  20-06-2017 17:11
  
  York Risk Services Group, which is owned by Onex Corp., said that Thomas Warsop has joined the company as chairman of the board. Warsop joins York after having served as CEO of The Warranty Group for almost five years. Prior …
  
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• Brown & Brown grabs catastrophe insurance specialty company - Insurance Business America

  20-06-2017 16:28
  
  Insurance Business America
  Brown & Brown grabs catastrophe insurance specialty company
  Insurance Business America
  Brown & Brown grabs catastrophe insurance specialty company Arrowhead General Insurance Agency, a subsidiary of Brown & Brown, has acquired “substantially all” of the assets of TriCoast Insurance Services, according to a news release. TriCoast ...and more »
  
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• Utah Drivers Lie About Medical Conditions to Keep Motoring, Officials Say

  20-06-2017 16:19
  
  State officials say many Utah residents lie about their medical conditions so they can keep driving without restrictions. The Salt Lake Tribune reports the state relies on people to report medical conditions themselves, which creates a scenario where lying is …
  
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• Mass. Court Says Arbitration is Allowed in Underinsured Motorist Claim Suit

  20-06-2017 16:18
  
  The Massachusetts Appeals Court has ruled that Arbella Mutual Insurance Company did not engage in unfair settlement practices by demanding arbitration in a lawsuit involving an underinsured motorist claim. In the case, Heather Chamberland vs. Arbella Mutual Insurance Company, plaintiff …
  
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• Nevada’s Recreational Marijuana Sales Launch Hinges on Court Decision

  20-06-2017 16:12
  
  Nevada’s marijuana regulators are working furiously to launch recreational sales on July 1, a fast-approaching deadline that could hinge on a court deciding whether the powerful liquor industry should be guaranteed a piece of the pot pie before tourists and …
  
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• Poll: Most Californians fear losing health insurance if Obamacare is repealed - Press-Enterprise

  20-06-2017 15:06
  
  Press-Enterprise
  Poll: Most Californians fear losing health insurance if Obamacare is repealed
  Press-Enterprise
  Protesters hold signs and shout at lawmakers outside the U.S. Capitol in May after the House of Representatives narrowly passed a bill to replace and replace Obamacare. A new poll finds a majority of Californians are worried about losing health ...and more »
  
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• Rocket Ship, Flying Vehicle or Driverless Car? Guess Which Americans Fear Most

  20-06-2017 14:48
  
  If the future were now, American travelers would feel safer on a rocket to space than being a passenger in a self-driving or autonomous vehicle, a survey by travel and specialty insurer Allianz Global Assistance USA finds. With experimental transport …
  
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• U.S. Sen. Schumer Pushes for Heroin Combat Teams in New York

  20-06-2017 14:29
  
  U.S. Sen. Charles Schumer is calling for federal help in the fight against opioid addiction in New York. Schumer is asking the Drug Enforcement Agency to provide the state with one of four special heroin enforcement teams being formed to …
  
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• Supreme Court Declines to Hear ‘Dancing Baby’ Copyright Case

  20-06-2017 13:39
  
  The U.S. Supreme Court on Monday declined to hear a closely watched copyright dispute known as the “dancing baby” case over a company’s move to take down a home video posted online showing a toddler joyfully bouncing to the late …
  
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• Legacy Specialist Compre to Acquire Irish Captive Insurer Equinox CA Europe

  20-06-2017 13:37
  
  Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from …
  
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• AXIS Insurance Taps Zurich’s Anzelc to Lead New Data and Analytics Unit

  20-06-2017 13:22
  
  AXIS Insurance, a business segment of AXIS Capital Holdings Ltd., announced the appointment of Meghan Anzelc, Ph.D., as vice president, Data and Analytics. In this new role, Anzelc, a trained physicist and data scientist, is responsible for implementing a strategy …
  
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• UK, EU Insurers & Banks Need ‘New System’ for Their Post-Brexit Business

  20-06-2017 13:08
  
  British and European Union banks need a new system to let them do business with each other after Brexit to avoid splitting markets, Britain’s finance minister Philip Hammond said on Tuesday. Britain, the EU’s biggest financial market, is leaving the …
  
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• Kaplansky Insurance Acquires Gath Insurance in Massachusetts

  20-06-2017 12:39
  
  Kaplansky Insurance, an independent, locally owned insurance agency based in Needham, Mass., has acquired Gath Insurance Agency in Lowell, Mass. Gath Insurance provides a range of insurance services to both personal and commercial clients. The addition of Gath marks the …
  
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• EPIC Insurance Brokers and Consultants Acquires Connecticut’s After Inc.

  20-06-2017 12:29
  
  EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has acquired After Inc., a product warranty analytics firm based in Norwalk, Conn. The acquisition was made primarily to further strengthen and grow EPIC’s …
  
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• Earth movement exclusion doomed claim for damage due to falling rock

  20-06-2017 12:15
  
  A court has ruled that a 'broad exclusion' for earth movement in a homeowner’s policy precluded coverage for damage that resulted when a large rock damaged a home.
  
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• Update on homeowners' insurance market

  20-06-2017 12:00
  
  Changes in the property insurance market are allowing carriers to emphasize their unique coverage options.
  
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• Seeman Holtz Acquires Direct Choice in California

  20-06-2017 11:00
  
  Seeman Holtz Property and Casualty Inc. has acquired Stevenson Ranch, Calif.-based Direct Choice Insurance. With Colby Singer at helm, his team specializes in helping clients find the lowest possible rates for auto, home, life and business insurance with major insurance …
  
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• 5 developments impacting medical marijuana in workers’ compensation

  20-06-2017 09:00
  
  The debate over the use of medical marijuana as an alternative to opioid painkillers continues despite these recent political developments.
  
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• Danielsen Joins TrueNorth as Producer in Iowa

  20-06-2017 07:57
  
  Iowa-based insurance services firm, TrueNorth, has added Lane Danielsen as a producer within its risk management division. He is based in West Des Moines, Iowa. Danielsen has more than 12 years of experience in sales and most recently worked with …
  
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• Supreme Court Limits Out-of-State Residents Joining Class Actions

  20-06-2017 07:00
  
  The U.S. Supreme Court gave companies a new tool to defeat some legal claims, siding with Bristol-Myers Squibb Co. in a bid to limit a consumer lawsuit in California over its Plavix blood thinner. The justices, voting 8-1, said the …
  
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• 7 Tips for Start-ups Partnering with Incumbent Insurers: Trōv Founder Walchek

  20-06-2017 07:00
  
  Trōv is a tech start-up that’s introducing the world to a new way to insure their things: on-demand for any duration, entirely from a smartphone.  We’ve had to reinvent the insurance value-chain — from customer engagement through claims — by …
  
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• Fire Caused by Lightening Bolt Damages 12 Florida Apartments

  20-06-2017 06:32
  
  A bolt of lightning started a fire that damaged 12 apartments in Florida. Orlando Fire Department spokeswoman Ashley Papagni told the Orlando Sentinel that lightning struck the attic of one apartment in the complex Friday afternoon. The fire spread across …
  
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• DTRT Insurance Group Acquires Insurance Authority of Florida

  20-06-2017 06:17
  
  DTRT Insurance Group, Inc. (Do The Right Thing) has acquired Insurance Authority, Inc., a retail property and casualty insurance brokerage firm based in Sunrise, Fla. Insurance Authority has been serving the residents of Sunrise & Greater Fort Lauderdale communities since …
  
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• Which state has the most opioid-dependent patients with private ... - USA TODAY

  20-06-2017 06:09
  
  USA TODAY
  Which state has the most opioid-dependent patients with private ...
  USA TODAY
  CINCINNATI — Kentucky doctors diagnosed more cases of opioid addiction for people privately insured than did doctors in any other state in the nation last year ...
  America's opioid crisis, by the numbers - AminoAminoall 6 news articles »
  
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• PURE Expands E&S Homeowners Coverage to South Carolina

  20-06-2017 06:04
  
  The PURE Group of Insurance Companies has expanded its PURE Programs excess & surplus (E&S) line offering designed to protect higher risk homes insured for $1 million or more, into South Carolina. With this expansion of the offering, PURE policyholders in South Carolina have …
  
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• Auto premium increases put strain on insurers' customer satisfaction

  20-06-2017 06:00
  
  Here are the auto insurance brand rankings for customer satisfaction by region, according to the J.D. Power 2017 U.S. Auto Insurance Study.
  
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• Medica intends to stay in Iowa's health-insurance market, at 43% higher price - DesMoinesRegister.com

  20-06-2017 00:52
  
  DesMoinesRegister.com
  Medica intends to stay in Iowa's health-insurance market, at 43% higher price
  DesMoinesRegister.com
  The last carrier standing in Iowa's individual health-insurance market said Monday that it intends to keep selling such policies here next year, but it would need to charge much higher premiums than it's collecting now. Even after Monday's announcement ...and more »
  
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• Biglari Holdings Inc. to Acquire Pacific Specialty Insurance Co. in California

  20-06-2017 00:31
  
  Biglari Holdings Inc. and Pacific Specialty Insurance Co. announced a definitive agreement for a subsidiary of Biglari Holdings to acquire all of the outstanding shares of the parent company of California-based Pacific Specialty and its affiliated agency, McGraw Insurance Inc., …
  
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