Insurance news

• Nearly 60% of Payments in California Comp in 2016 Were for Medical Services

  28-06-2017 23:53
  
  The Workers’ Compensation Insurance Rating Bureau of California issued report containing estimated California workers’ compensation costs for 2016 based on insured employer experience. The report also reflects payments made by the California Insurance Guarantee Association in the statewide loss payments …
  
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• FOI Commission fines insurance commissioner for withholding documents - Meriden Record-Journal

  28-06-2017 23:47
  
  Meriden Record-Journal
  FOI Commission fines insurance commissioner for withholding documents
  Meriden Record-Journal
  HARTFORD — The Freedom of Information Commission Wednesday issued Insurance Commissioner Katharine Wade a $500 fine after ruling that she improperly withheld documents last summer related to a proposed merger between Aetna and Humana.
  
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• Lawmakers unveil bill to keep insurance expert on risk panel | Reuters - Reuters

  28-06-2017 23:03
  
  Reuters
  Lawmakers unveil bill to keep insurance expert on risk panel | Reuters
  Reuters
  The U.S. Senate Banking Committee's top two lawmakers unveiled a bipartisan piece of legislation on Wednesday designed to prevent a prolonged vacancy on ...and more »
  
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• Lawmakers unveil bill to keep insurance expert on risk panel - Reuters

  28-06-2017 23:03
  
  Reuters
  Lawmakers unveil bill to keep insurance expert on risk panel
  Reuters
  FILE PHOTO - Chairman of the Senate Banking, Housing, and Urban Affairs Committee Mike Crapo (R-ID) hearing listens to testimony from Federal Reserve Chairman Janet Yellen on the “Semiannual Monetary Policy Report to the Congress” on Capitol Hill ...and more »
  
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• Fox News Doesn't Care If Millions Lose Health Insurance Since 'We're All Going to Die' - Newsweek

  28-06-2017 22:52
  
  Newsweek
  Fox News Doesn't Care If Millions Lose Health Insurance Since 'We're All Going to Die'
  Newsweek
  Who really cares about 15 million Americans losing their insurance next year alone if the GOP health care bill is passed by the Republican-held Senate? We're all going to die in the end, anyway. At least, that's the rationale employed in an argument on ...and more »
  
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• Fox News Doesn't Care If Millions Lose Health Insurance Since 'We ... - Newsweek

  28-06-2017 22:52
  
  Newsweek
  Fox News Doesn't Care If Millions Lose Health Insurance Since 'We ...
  Newsweek
  Who really cares about 15 million Americans losing their insurance next year alone if the GOP health care bill is passed by the Republican-held Senate? We're ...and more »
  
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• For One Manufacturer, Dropping Health Insurance Worked -- But Only For A While - Forbes

  28-06-2017 22:45
  
  Forbes
  For One Manufacturer, Dropping Health Insurance Worked -- But Only For A While
  Forbes
  Walter Rowen had mastered, he thought, the Affordable Care Act — made it work for both his employees and his business. Susquehanna Glass Company, in Columbia, Pennsylvania, makes monogrammed glassware for individual consumers on behalf of ...
  
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• Analysis: US Senate health care bill would axe insurance for 440000 Oregonians - The Register-Guard

  28-06-2017 21:37
  
  Cincinnati.com
  Analysis: US Senate health care bill would axe insurance for 440000 Oregonians
  The Register-Guard
  A new Oregon analysis says the U.S. Senate's proposed repeal and replacement of the federal Affordable Care Act would cause nearly 440,000 Oregonians to lose health insurance coverage by 2021. The number of people in Oregon without health ...
  When to consider long-term care insuranceCincinnati.com
  H.R. 1628, Better Care Reconciliation Act of 2017 | Congressional Budget OfficeCon
  
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• GOP touts lower premiums, but other insurance costs to rise - ABC News

  28-06-2017 21:36
  
  Washington Post
  GOP touts lower premiums, but other insurance costs to rise
  ABC News
  FILE - In this May 16, 2017 file photo, Sen. John Thune, R-S.D. speaks on Capitol Hill in Washington. Republicans are touting lower premiums under their health care legislation, but that reflects insurance that would cover a smaller share of the cost ...
  Senate GOP focuses on insurance premiums, but would health plans be affordable?Washington Post
  Fact check: Spinning the CBO insurance estimateUSA TODAY
  The Sen
  
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• Where there’s smoke, is there a pollutant—and an exclusion?

  28-06-2017 21:03
  
  Most policies have exclusions for damage from pollutants. But the question then becomes, what qualifies as a 'pollutant'?
  
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• The best cars for senior drivers in 2017

  28-06-2017 20:45
  
  As the baby boomer generation continues to age, older drivers are a growing auto insurance market for agents. You might want to share these Consumer Reports' picks for vehicles with senior-friendly features with your clients.
  
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• MetLife Closer to Spinning Off US Life Insurance Business - Wall Street Journal (subscription)

  28-06-2017 20:38
  
  Wall Street Journal (subscription)
  MetLife Closer to Spinning Off US Life Insurance Business
  Wall Street Journal (subscription)
  MetLife Inc. on Wednesday cleared one of the last obstacles to spinning off most of its longtime core business of selling life insurance to U.S. families. Delaware state insurance regulators approved the company's planned divestiture, which will create ...and more »
  
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• Senate GOP focuses on insurance premiums, but would health plans be affordable? - Washington Post

  28-06-2017 20:12
  Washington Post
  Senate GOP focuses on insurance premiums, but would health plans be affordable?
  Washington Post
  Their plans in shambles for a hurried vote to rewrite major parts of the Affordable Care Act, Senate Republicans are still reciting their mantra on what their conservative approach to health policy would do. Loyalists and rebels alike, GOP senators say ...
  Cruz Pitches GOP Leaders to Allow Cheap Insurance in Health BillBloomberg
  Fact check: Spinning the CBO insurance estimateUSA TODAY
  
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• Hurricane deductibles: How much do homeowners know?

  28-06-2017 19:31
  
  Despite living in areas susceptible to hurricanes, one third of homeowners in several coastal states do not know what hurricane deductibles are and how they work.
  
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• Missouri Plumbing Contractor Hit with $714K in Fines Over Trench Collapse

  28-06-2017 18:52
  
  A month after a 33-year-old worker died while working in an unprotected trench, U.S. Department of Labor Occupational Safety and Health Administration inspectors found another employee of the same Missouri plumbing contractor working in a similarly unprotected trench at another job site. OSHA …
  
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• Corps to Begin Repairing Holes in Arkansas Levees

  28-06-2017 18:45
  
  U.S. Army Corps of Engineers officials are expected to begin repairing nine sections of a levee along the Black River in northeast Arkansas that was damaged by floods last month. Emergency workers are making plans to cover the holes in …
  
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• After Children Suffer Burns, Indiana Water Park Owners Apologize

  28-06-2017 18:41
  
  A company that operates a northwestern Indiana water park authorities closed after 11 children suffered chemical burns says it’s “profoundly sorry” for the injuries. An advertisement Seven Peaks Resorts placed in local newspapers says the children were burned after an …
  
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• Fact check: Spinning the CBO insurance estimate - USA TODAY

  28-06-2017 18:36
  
  USA TODAY
  Fact check: Spinning the CBO insurance estimate
  USA TODAY
  The Congressional Budget Office projects that the Senate health care bill would increase the number of uninsured Americans by 22 million in 2026 — a figure that both sides in the debate are distorting: Sen. Bernie Sanders wrongly claims the bill ...
  How 22 million more Americans would end up without health insurance under the GOP healthcare billBusiness Insider
  Trumpcare takes your insurance but gives you a hatChicago Tri
  
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• Watkins Insurance Group Welcomes Scott as VP, Finance

  28-06-2017 18:35
  
  Austin-based Watkins Insurance Group, one of the largest full-service, locally owned independent insurance agencies in central Texas, has added Chris Scott as vice president of Finance. Scott brings to Watkins Insurance Group more than 15 years of experience as a …
  
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• Starr Promotes Bessinger to Chief Underwriting Officer for Domestic Companies

  28-06-2017 18:33
  
  Starr Companies has promoted Richard Bessinger to chief underwriting officer of Starr Indemnity & Liability Co., Starr Specialty Insurance Co. and Starr Surplus Lines Insurance Co. Bessinger has 25 years of experience in the insurance industry and long term service …
  
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• Nance Named EVP, E&S Property Business, at AXIS Insurance

  28-06-2017 18:33
  
  AXIS Insurance, a business segment of AXIS Capital Holdings Limited, has appointed Marc Nance executive vice president, Excess & Surplus Property. He is based in Chicago. Nance is responsible for growing and managing AXIS Insurance’s E&S property business in the …
  
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• Post-Disaster, BP Stakes Future on Deepwater Despite Surging Shale

  28-06-2017 18:25
  
  About 300 BP workers commute 150 miles by helicopter from the Louisiana coast to a deep-sea drilling platform in the Gulf of Mexico that can produce more oil in a day than a West Texas rig can pump in a …
  
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• USI Insurance Services enters agreement to purchase Wells Fargo Insurance Services

  28-06-2017 17:26
  
  Terms of the transaction were not disclosed, but it is expected to close in the fourth quarter 2017.
  
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• Alliant Names Laing a Producer in Oregon

  28-06-2017 17:16
  
  Alliant Insurance Services Inc. has named Andrew Laing a producer within the company’s Alliant Americas middle market division. Laing will be based in Portland, Ore. and be responsible for the design and delivery of insurance and risk management solutions to …
  
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• NFP Acquires International Insurance Group in Arizona

  28-06-2017 17:10
  
  NFP Corp. has acquired Flagstaff, Ariz.-based International Insurance Group Inc. Nate Watson, chief operating officer of IIG, will join as managing director of NFP’s property/casualty business and report directly to Terry Scali, CEO of NFP’s P/C business. The sellers, Jim …
  
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• DTRIC in Hawaii Becomes Wholly-Owned Subsidiary of Aioi Nissay

  28-06-2017 17:03
  
  Honolulu, Hawaii-based DTRIC Insurance Company Ltd. is now wholly-owned by Aioi Nissay Dowa Insurance Co. Ltd., a subsidiary of the MS&AD Insurance Group in Japan. ADI has been DTRIC’s majority shareholder since 1992. This transaction completes ADI’s buyout of the …
  
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• California Continues to Move Toward Letting Customers Sue Banks

  28-06-2017 16:56
  
  California has taken another step on toward allowing state residents to sue financial institutions for fraud, rather than letting banks force customers to settle disputes in arbitration, as a bill inspired by last year’s Wells Fargo scandal passed a key …
  
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• Beef Products Firm and ABC Agree to Settle ‘Pink Slime’ Case

  28-06-2017 16:22
  
  Beef Products Inc. has settled its defamation and libel lawsuit against American Broadcasting Co. and its reporter Jim Avila, the meat processor said on Wednesday. BPI had claimed ABC, a unit of Walt Disney Co., and Avila defamed the company …
  
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• Insured Loss Estimates for Cyclone Debbie Rise to US$1.1B: PERILS

  28-06-2017 15:16
  
  The estimate for the property insurance market’s loss for tropical cyclone Debbie has risen to A$1.4 billion (US$1.1 billion) from an initial estimate of A$1.12 billion, according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Cyclone …
  
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• Arch Expands Travel Insurance Sales Team with 3 from Travelex

  28-06-2017 15:10
  
  Arch Insurance announced additions to its travel insurance sales team. Cory Sobczyk and Dan Povondra have joined Arch Insurance as vice presidents of Business Development. Additionally, Lynn Barty has joined as regional sales director. The newcomers, who bring a combined …
  
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• MS Amlin to Re-Domicile its Post-Brexit European Headquarters to Belgium

  28-06-2017 14:49
  
  MS Amlin, the specialist global re/insurer, plans to re-domicile its European business, Amlin Insurance Societas Europaea (AISE), to Belgium in response to Brexit. MS Amlin said it will keep its global headquarters in London. MS Amlin is already an established …
  
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• House Panel Eyes Removing States’ Bumps in Road for Driverless Vehicles

  28-06-2017 14:37
  
  Republicans and Democrats in Congress sparred on Tuesday over U.S. states setting rules for testing and deployment of self-driving cars and a proposal to allow automakers and technology companies to bypass existing regulations in introducing autonomous cars. Democrats on a …
  
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• How States Rate in Preventing Home, Auto, Work Accidents

  28-06-2017 14:15
  
  No state goes far enough to protect its residents from leading causes of preventable deaths and injuries – commonly known as “accidents” – on the road, in homes and communities and at work, according to the National Safety Council. Despite …
  
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• London-Based Ed Taps Gallagher’s Blacker as Managing Director of P/C

  28-06-2017 14:12
  
  Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of James Blacker as managing director of property and casualty. Blacker will take up his role in December and report to Chris Bonard, CEO – Ed Specialty. Blacker brings …
  
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• Zurich Acquires UK Online Rental Car Insurance Provider, Halo

  28-06-2017 13:49
  
  Zurich, together with its travel insurance unit Cover-More, has completed the acquisition of Halo, a specialist, UK-based online rental car insurance platform. Financial details of the transaction were not disclosed. Zurich said it is becoming increasingly active in the fast-growing …
  
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• Businesses Underestimate Long-Term Effects of Cyber Attacks: Lloyd’s Report

  28-06-2017 13:00
  
  Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As businesses increasingly become the target …
  
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• Ex-Executive in Maryland Sentenced for Stealing $4.5M from Firm

  28-06-2017 12:44
  
  A former executive for a national construction company who, federal prosecutors say, stole $4.5 million from her employer and spent it on expensive cars and restaurant meals has been sentenced. Forty-six-year-old Wendy Collins pleaded guilty to wire fraud. She was …
  
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• Pennsylvania’s Penn Community Bank Hires Three

  28-06-2017 12:40
  
  Penn Community Bank, a Bucks County, Penn.-based independent, mutual financial organization, has hired three professionals to its administrative, lending, and insurance teams. Peter R. Palumbo joins Penn Community Bank as a mortgage loan officer, and Renee Schoeller joins as an …
  
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• Talc, product liability insurance and recent class action lawsuits

  28-06-2017 12:30
  
  Recent allegations that women have contracted ovarian cancer by using cosmetic talc represent a new class of toxic products liability cases.
  
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• How to empower others to reach greater levels of insurance agency success

  28-06-2017 12:30
  
  High-achieving insurance agencies understand that the emphasis should primarily be on their people, not policies or procedures.
  
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• Massachusetts’ Knight-Dik Insurance: 100 Years, Four Generations

  28-06-2017 12:11
  
  When Thomas Babb launched his insurance agency – Thomas Babb Insurance Agency – in an 11-story building in downtown Worcester, Mass., in 1917, he also launched a legacy that would span a century of growth and four generations of leadership. …
  
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• What You Don't Know About Homeowners Insurance Could Cost You - ConsumerReports.org

  28-06-2017 12:07
  
  What You Don't Know About Homeowners Insurance Could Cost You
  ConsumerReports.org
  We buy homeowners insurance to protect against the high drama of our greatest fears: tornadoes ripping off the roof, fire racing up the stairs, floodwaters lapping at the front porch. But in reality, the worst rarely happens. And even in the event that ...and more »
  
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• Insurance Is the Hot New Way to Avoid Taxes - Bloomberg - Bloomberg

  28-06-2017 12:01
  
  Bloomberg
  Insurance Is the Hot New Way to Avoid Taxes - Bloomberg
  Bloomberg
  The new hot thing in tax avoidance has a boring old name: insurance dedicated funds.and more »
  
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• Insurance Is the Hot New Way to Avoid Taxes - Bloomberg

  28-06-2017 12:01
  
  Bloomberg
  Insurance Is the Hot New Way to Avoid Taxes
  Bloomberg
  The new hot thing in tax avoidance has a boring old name: insurance dedicated funds. Introduced in the 2000s, IDFs have become so mainstream that banks such as JPMorgan Chase & Co. and Goldman Sachs Group Inc. are offering them. Hedge funds like ...and more »
  
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• Workplace safety and weed at work

  28-06-2017 11:00
  
  How do you keep your workplace safe as more states legalize marijuana? A new whitepaper from Lockton Cos. provides these four tips.
  
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• Around the P&C insurance industry: June 28, 2017

  28-06-2017 09:45
  
  News from Kinsale Capital Group Inc., CSI, R&Q Investment Holdings Ltd. and more.
  
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• Insurance tips available on state website - Omaha World-Herald

  28-06-2017 08:06
  
  Omaha World-Herald
  Insurance tips available on state website
  Omaha World-Herald
  As the clean up continues from the June 16 storms that included two tornadoes that struck south Bellevue, insurance claims are being submitted by hundreds, if not thousands of area residents. The Nebraska Department of Insurance has a wide range of ...
  
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• Directors, officers fear personal exposure to 'cyber nightmare'

  28-06-2017 06:45
  
  Commercial insurance buyers and their brokers should expect increasing scrutiny about the adequacy of cyber coverage for corporate board members, as emerging exposures potentially put directors and officers at risk of being sued.
  
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• Kinsale Launches Liability Product for Public Officials

  28-06-2017 06:37
  
  The Public Entity Division of Kinsale Insurance Company is now offering public official liability coverage that provides for damages and defense costs for wrongful acts alleged against a public entity, an elected or appointed public official, or an employee. Employment …
  
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• A.M. Best Revises Outlooks to Negative for Georgia Farm Bureau Group Members

  28-06-2017 06:21
  
  A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb-” of Georgia Farm Bureau Mutual Insurance Company (GFBMIC ) and …
  
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