NAS’ Palotay: Point-of-Sale, not Stored Data, Riskiest for Retailers

In justifying a reluctance to purchase cyber insurance coverage for data breaches, many retailers insist they don’t store credit card information after a sale. But experts say the headline-generating data breaches at retailers across the country in the past few …

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Illinois Workers’ Comp Premium Rate High but Improving

With a median rate index of 2.35 per $100 of payroll, Illinois has the seventh highest average workers’ comp premium rate of all U.S. states, according to the 2014 Oregon Workers’ Compensation Premium Ranking Study. The national median index rate …

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Louisville Settles Zoo Train Accident With Remaining Victims for $6M

Louisville, Ky., has reached a $6 million settlement with five people injured in a 2009 derailing of a small train that carries families around the city’s zoo. The open-air, small-engine train was carrying 29 passengers and an operator when it …

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Citizens’ CEO Updates Board on ‘Critical’ Water Loss Issue, Depopulation Program

Citizens Property Insurance Corporation’s top executive warned the company’s Board of Governors Wednesday that water loss claims will continue to hamper efforts to reduce rates for many Florida policyholders. “In claims the critical issue that has surfaced in the past …

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EPA Finalizes $14M Plan to Clean Soil at Former Sherwin-Williams Plant Site

The U.S. Environmental Protection Agency (EPA) said Wednesday that it has finalized a $14 million plan to clean up contaminated soil from homes at the Sherwin-Williams/Hilliards Creek Superfund site in Gibbsboro and Voorhees, New Jersey. The EPA’s decision calls for …

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N.Y. Assemblyman Seeks to Build Coalition to Fix ‘Broken’ NFIP

New York State Assemblyman Phil Goldfeder (D – Rockaway Beach) is reaching out to congressional representatives in Mississippi and Louisiana communities hardest hit by Hurricane Katrina in 2005 to encourage collaboration on reforming the National Flood Insurance Program (NFIP). Goldfeder …

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NAMIC Convention in California Offers Plenty of Advice on Data, Tech

Carriers are spending big on advertising, and agencies are working to become increasingly more sophisticated and reach out to more and more people. In the world of insurance, that’s just doing business as usual. But the efforts seem seem to be …

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Update: Hurricane Joaquin’s U.S. Path Unclear But East Coast Already Under Flood Watch

Joaquin is forecast to become a major hurricane by Saturday as it strengthens in the Atlantic, triggering hurricane warnings and watches for the Bahamas. Its course after crossing the island chain is still uncertain, the National Hurricane Center said. Joaquin, …

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Fairmont Farmers Mutual’s Stueven Assumes NAMIC Chairmanship

Paul Stueven, chief operating officer and treasurer of Fairmont Farmers Mutual Insurance Co. of Fairmont, Minn., today assumed the chairmanship of the National Association of Mutual Insurance Companies (NAMIC) at the organization’s annual meeting in San Diego. Stueven has worked …

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Suburban Philadelphia County Shutting Down DUI Court Over Heavy Caseload

Court officials are shutting down a special court for drunken driving cases in the Philadelphia suburbs because it’s been too busy. The Philadelphia Inquirer reported on Sept. 23 that Montgomery County is ending the two-year pilot program because drunken-driving is …

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Henderson Brothers Announces 4 New Hires in Pittsburgh

Henderson Brothers Inc., an independent insurance agency based in Pittsburgh, Pennsylvania, recently announced the following four new hires. John DeSimone joined Henderson Brothers as director of Human Resources. With seven years of experience in human resources, DeSimone will continue building …

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Study: Flood Risk on Rise for New York City, New Jersey Coast

A new study looking back over 1,000 years finds the flooding risk along the New York and New Jersey coasts increased greatly after industrialization, and major storms that once might have occurred every 500 years could soon happen every 25 …

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Willis Launches Protected Cell Company Insurance Facility in Vermont

Willis Global Captive Practice, a unit of Willis Group Holdings plc, today announced it has set up a Willis-owned and managed protected cell company (“PCC”) insurance facility in Vermont. Willis announced that the new facility, Encore Insurance PCC Ltd., will …

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Oklahoma School District Looking to Repair Earthquake Damage

Structural engineers are assessing the damage caused by a July earthquake at Crescent Public Schools buildings in Oklahoma. The 4.5 magnitude earthquake hit Crescent on July 27. Superintendent Mickey Hart told the Enid News & Eagle the district evacuated part …

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Ohio Lawmakers Consider Statewide Ridesharing Regulations

The Ohio Senate is considering a bill that would create one set of statewide regulations for ridesharing services such as Uber and Lyft. The lawmakers’ work comes as Uber plans to expand its Ohio workforce by adding 10,000 more drivers …

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Moradi Joins Hub in Chicago as EVP of Operations And Technology

Hub International Ltd. has named Carla Moradi executive vice president of operations and technology. Moradi will be based in Chicago, Ill. She will lead the implementation of strategic enterprise-wide customer technologies and operations, supporting HUB regional locations throughout the U.S. …

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Texas County Sues Automaker for $100M Over Doctored Diesels

The Texas county that includes Houston sued Volkswagen Group of America Inc. for $100 million, claiming the carmaker’s cheating on emission controls worsened  pollution in the area. It’s believed to the the first government claim stemming from the VW emission …

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Ski Resorts’ Avalanche Liability Weighed by Colorado High Court

The question of whether Colorado ski resorts can be liable for avalanches that happen within their boundaries comes before the state’s high court this week in a lawsuit prompted by a skier’s death. The case involves the death of Christopher Norris, …

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Walker’s Daughter Sues Porsche in California Over Fatal Crash

Paul Walker’s daughter sued Porsche for wrongful death Monday, claiming the sports car that her father was in when he was killed suffered from numerous design defects. The lawsuit filed by Meadow Rain Walker seeks unspecified damages for defects that …

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California Draws $10M From Reserves to Remove Wildfire Debris

California Governor Jerry Brown on Friday directed $10 million from the state’s budget reserve to help pay for the removal of huge amounts of burned debris left in the wake of two massive wildfires, the administration said. In a letter …

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Farmers Estimates $225M Loss from Northern California Fires

Farmers Insurance reported more than 1,300 claims filed, and an anticipated 1,800 total, with an estimated overall loss of approximately $225 million from two California wildfires that burned nearly 150,000 acres this month in Napa, Sonoma, Amador and Calaveras counties. …

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EU to Ease Capital Regulations for Banks & Insurers to Revive Growth

The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth. The bloc’s financial services chief, Jonathan Hill, announced his “action plan” …

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How P/C Mutual Insurers Perform Compared to P/C Industry

Mutual property/casualty insurers tend to underperform the property/casualty insurance industry as a whole in several areas of performance, a new report says. However, the A.M. Best report notes, the mission of a mutual insurance company can be very different from …

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London to Curb Uber with Driver Tests, Stricter Insurance Requirements

Uber Technologies Inc. faces curbs on its expansion in the U.K. after London Mayor Boris Johnson’s transport regulator proposed that drivers of private-hire minicabs should face English-language and navigational tests, stricter insurance requirements and limits on bookings. The recommendations are …

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UPC Insurance to Buy Interboro for $57M

United Insurance Holdings Corp. (UPC Insurance) said it will pay $57 million for Interboro Insurance Co., a New York-based property/casualty insurer licensed to operate in four states and Washington, D.C. The deal involves both cash and stock and allows for …

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Tropical Storm Joaquin Keeps Forecasters Guessing on Its Path

Tropical Storm Joaquin jumped in strength and is forecast to become a Category 1 hurricane by Wednesday, even as computer models disagree on where it will end up. Joaquin’s top winds reached 65 miles (105 kilometers) per hour, up from …

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U.S. Missing Life-Saving Opportunity of Driver Assistance Technologies

New auto safety technologies such as automatic braking and sensors that keep a car in its lane could prevent almost 10,000 U.S. road deaths a year and save $251 billion if they were more widely available, according to a Boston …

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Lloyd’s Chairman Criticizes Profit-Hungry Corporations, Which Risk Eroding Trust

Lloyd’s of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, speaking at Lloyd’s annual dinner in London, said a …

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A.M. Best: European Insurers Continue Emerging Markets’ Growth – with Caution

In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven successful, according to a new …

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AIR Analyzes Taiwan, China Damages, Losses from Typhoon Dujuan

Catastrophe modeling firm AIR Worldwide reports that Typhoon Dujuan made landfall on northeast coast of Taiwan with high winds and heavy rain near Nan’ao Township in Yilan County, late afternoon on Monday, September 28, at approximately 09:00 UTC. AIR described …

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Hurricane Warnings Issued as Tropical Storm Joaquin Gains Strength

The National Hurricane Center’s latest bulletin, issued at 5:00 EDT, notes that the “government of the Bahamas has issued a Hurricane Warning for the central Bahamas, including Cat Island, the Exumas, Long Island, Rum Cay, and San Salvador.” The NHC …

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Tennessee Takes Disciplinary Actions Against 4 Agents

The Tennessee Department of Commerce and Insurance (TDCI) took disciplinary actions against four agents in the state that have resulted in licensure revocations, probation, and monetary civil penalties totaling $15,000. “The Department is dedicated to the protection of Tennessee insurance …

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Alabama Drying Out After Weekend Floods

Flood waters receded along the Alabama coast Monday after storms from a tropical weather system dumped about 7.5 inches of rain in less than a day, inundating roads and creating dangerous surf conditions along beaches. No deaths or serious injuries …

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Tianjin Port Blast Chemical Contamination Likely to Boost Re/Insurers’ Losses

Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While Chinese insurers are likely to bear …

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Bank of England Governor: Insurers Face Huge Exposures from Climate Change Risks

Bank of England Governor Mark Carney said UK insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial stability risks. “The challenges currently posed by climate change pale in …

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Watercraft Thefts Down but Texas Still a Top State for Them: NICB

While the number of watercraft thefts continued on a downward trend in 2014, Texas remains one of the five top states in which such thefts are likely to occur. Texas ranks third for watercraft thefts, behind Florida and California, according …

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Fortner Named NAMIC’s Professional Farm Mutual Manager of the Year

The National Association of Mutual Insurance Companies presented James Bradley (Brad) Fortner, chief operating office of Farmers Protective Mutual Insurance Company in Rogers, Ark., with its Professional Farm Mutual Manager of the Year Award during the group’s 120th Annual Convention. …

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NAMIC Honors Western Iowa Mutual’s Paul with Chairman’s Award

John Paul, president/treasurer of Western Iowa Mutual Insurance in Council Bluffs, Iowa, was presented the Chairman’s Award by the National Association of Mutual Insurance Company’s at its 120th Annual Convention in San Diego. The award was created to recognize leadership, …

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Illinois High Court: Village Must Pay for Disabled Cop’s Health Insurance

In an opinion filed on Sept. 24, the Illinois Supreme Court upheld the decisions of two lower courts that an Illinois municipality must pay health insurance premiums for a policeman and his family after the police officer was “catastrophically injured” …

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ACE Expands Cyber Risk Coverage Options for Non-Profits

ACE Group has launched a new coverage component for the ACE Express package policy specifically designed to protect private and not-for-profit organizations. The updated package policy enables insureds to purchase privacy and network liability coverage in a single policy with …

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Mississippi Farmers Eligible for Disaster Loans as Drought Parches State

Farmers hit by the drought gripping central Mississippi are now eligible for federal aid. The U.S. Small Business Administration says it’s offering low-interest disaster loans to small businesses and nonprofit organizations following a drought declaration by the U.S. Department of …

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Mississippi Drivers Warned to Slow Down as Deer Season Begins

Mississippi has the eighth highest rate of collisions with deer. Mississippi Highway Patrol Sgt. Criss Turnipseed tells The Commercial Dispatch there were 3,438 vehicle collisions with deer in the state last year. According to State Farm Insurance Company, which looked …

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NAS Introduces CyberNET Support for Cyber Liability Policyholders

NAS Insurance has launched “NAS CyberNET Support,” a customer support product which includes 24/7 phone support and a range of cyber risk management resources. NAS CyberNET Support is a full suite of policyholder support services, including legal consultation, email alerts, …

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United Dealer Services Launches Admitted Franchised Auto Dealership Program

Program Administrator United Dealer Services, LLC has launched an admitted and fully comprehensive Franchised Auto Dealership Insurance Program available on a wholesale basis to all qualified agents in New Jersey, New York, Pennsylvania and Michigan. In addition to standard package …

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Rhode Island Attorney General Urges Teens to Not Text While Driving

Rhode Island Attorney General Peter Kilmartin is urging teenage drivers to not use their cell phones while driving as part of the fourth annual “It Can Wait” campaign in the state. Kilmartin kicked off this year’s effort on Sept. 25 …

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Preferred Mutual Hires Butler-Andersen as Field Sales Manager in New York

Preferred Mutual Insurance Company in New Berlin, New York, hired Kindra Butler-Andersen as field sales manager. Butler-Andersen brings more than 22 years of industry experience to Preferred, having most recently worked as regional sales director at a national carrier. Preferred …

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Forecasters Watching Tropical Storm Joaquin as It Churns in Atlantic

Forecasters are watching Tropical Storm Joaquin as it churns in the Atlantic near the Bahamas to see if it will become a threat to the U.S. East Coast later this week. Joaquin was about 385 miles (620 kilometers) northeast of …

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Florida Man Charged with Fraud, Theft of 4M Pounds of Citrus

State agriculture officials say a Florida man is accused of illegally obtaining more than 4 million pounds of citrus, valued at over half a million dollars, from five different individuals and companies. Agriculture Commissioner Adam Putnam said in a news …

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Trial Set to Start for Former Energy CEO in Deadly West Virginia Mine Blast

Former Massey Energy CEO Don Blankenship hits the courtroom for a criminal trial Thursday, facing charges that he conspired to break safety laws and lied to financial regulators about safety practices at the site of the deadliest U.S. mine explosion …

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Burns & Wilcox Brokerage Opens Office in North Carolina

Burns & Wilcox Brokerage has opened a new full service brokerage office in Charlotte, North Carolina. This latest location is the third the company has opened in just nine months. According to Denis Brady, president of Burns & Wilcox Brokerage, …

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Study Alleges SEC Inflates Enforcement Statistics

The U.S. Securities and Exchange Commission’s metrics for computing annual enforcement statistics are “deeply flawed,” making the agency falsely appear as though it is getting tougher every year, a new academic study concluded. The draft study by Emory University law …

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Lockton Appoints Hammond, Spencer, Nimmo to Leadership Positions

Privately-held insurance broker Lockton announced expanded leadership roles for Mike Hammond, Glenn Spencer and Neil Nimmo. Spencer has been named chief operating officer of Lockton Inc. and president of Lockton Companies in the US. Spencer had previously been U.S. chief …

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Arkansas Mutual Insurance Co. Rated ‘A’ by A.M. Best

A.M. Best has assigned a financial strength rating of “A” (Excellent) and an issuer credit rating of “a” to Arkansas Mutual Insurance Company (AMIC) in Little Rock, Ark. The outlook assigned to both ratings is stable. The ratings are reflective …

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Moradi Joins Hub in Chicago as Technology Leader

Chicago-based Hub International Limited (HUB), a global insurance brokerage, has added Carla Moradi  as executive vice president of Operations and Technology. Moradi will lead the implementation of strategic enterprise-wide customer technologies and operations, supporting all HUB regional locations throughout the …

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Volkswagen to Recall 11 Million Vehicles for Diesel Fix

Volkswagen announced plans on Tuesday to refit up to 11 million vehicles and overhaul its namesake brand to try to move on from the scandal over its cheating on diesel emissions tests. New Chief Executive Matthias Mueller said the German …

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Warren Buffett Reduces Shareholding in Munich Re

Berkshire Hathaway Inc. and National Indemnity Company stated their shareholdings in Munich Re have fallen below the threshold of 10 percent of voting rights — now at 9.7 percent. In an announcement about this change, Munich Re said information about …

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Airbus and Atos to Create Cyber Security Products for Insurers, Other Industries

Airbus Group SE’s Defence and Space will team with digital services provider Atos SE to develop products designed to counteract cyber attacks on companies and their supply chains. The partnership will address industries including banking and insurance as well as the public sector …

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Willis GB CEO Tells Insurance Industry It Must Embrace Diversity

To mark the start of the “Inclusion@Lloyd’s Dive In” festival, Willis Great Britain CEO Nicolas Aubert, issued a call to the re/insurance industry to embrace diversity. Challenging to the status-quo, he said the industry needs to employ a truly meritocratic …

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Florida’s Heritage Insurance to Acquire Hawaii’s Zephyr

Clearwtaer, Florida-based Heritage Insurance Holdings, Inc. has agreed to acquire Zephyr Acquisition Co. and its wholly-owned subsidiary, Zephyr Insurance Co., a specialty insurance provider in Hawaii. The acquisition will provide Heritage with an immediate presence in Hawaii with Zephyr holding …

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Medical Professional Insurer Market Prepped for Consolidation: Fitch

The medical professional liability insurance market continued its years-long decline in 2014 in terms of net written premium volume, hammered by forces including worsening accident-year results and a rapidly evolving healthcare market, Fitch Ratings found. Despite its challenges, the MPLI …

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Surgical Funding Firm Accused of Inflating Claims

A unit of Johnson & Johnson that makes artificial hips has accused a surgical funding company of seeking excessive profits from financing surgery for patients suing over the devices. The claim by DePuy Orthopaedics marks the first time that a …

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Hanover Insurance Announces 3 International Executive Appointments

The Hanover Insurance Group Inc., based in Worcester, Mass, announced that Robert A. Stuchbery will assume broader responsibilities as president of international operations of The Hanover. In this role, he will oversee Chaucer’s operations and be responsible for development of Chaucer distribution strategies, …

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PERILS Lowers Windstorm Niklas Insured Loss Estimate to $927 Million

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released its third loss estimate for windstorm Mike-Niklas, which, lowers the estimated property insurance market loss from €895 million ($1.0 billion] to €826 million [$927 million]. The announcement …

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Europe’s Rich Families – Such as EXOR’s Agnellis – Turn Dealmakers

John Elkann, the leader of Italy’s billionaire Agnelli family, has a way of preparing his relatives for a big takeover battle that you won’t see at your everyday company. In June, he gathered two branches of the prominent Italian family …

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PartnerRe Files Definitive Proxy to Seal Acquisition by EXOR

Bermuda-based PartnerRe Ltd. announced that a Special General Meeting of shareholders will take place on Thursday, November 19, 2015 to vote on the previously announced merger agreement between PartnerRe and EXOR, and all related transactions. The company filed a “Definitive …

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North Carolina Man Arrested for Forging Insurance Documents

North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Jonathan Russell Marcus, 53, of Charlotte. Marcus is charged with one count each of forgery of an instrument and obtaining property by false pretense. North Carolina Department of Insurance (NCDOI) …

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Hardy Pickering Promoted to Chief Financial Officer of Hamilton Re

Bermuda-based Hamilton Insurance Group, the holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, announced that Vanessa Hardy Pickering has been promoted to the position of chief financial officer of Hamilton Re. Hardy Pickering, who …

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XL Catlin Strengthens London Product Recall Underwriting Team

XL Catlin announced it has strengthened its London-based Product Recall team with the appointment of Natalie Lilley and the transfer of Ian Davidson. Natalie Lilley joins XL Catlin from Canopius where she has held the position of contaminated products underwriter …

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Nebraska Software Developer Awarded $43.8M in Antitrust Lawsuit

A Douglas County jury has awarded Omaha, Neb., software developer Baldwin Hackett & Meeks Inc. $43.8 million in a lawsuit that accused a rival software firm of violating antitrust laws and breaching a nondisclosure agreement. The recent award was the …

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Duck Boat in Washington Crash Didn’t Have Recommended Fix: NTSB

A duck boat involved in a deadly Seattle traffic crash did not have an axle repair that was recommended for the amphibious vehicle in 2013, the National Transportation Safety Board said. NTSB member Earl Weener said investigators only recently learned …

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Northern California Town Fights Back After Being Nearly Burned Off Map

Mountain Ranch is known as a Gold Rush-era, fiercely independent place, where many of its aging residents distrust the government and prefer to take matters into their own hands. The unincorporated hamlet in Calaveras County bore the brunt of a …

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California Governor Bill Signs Dealing with California Insurance Code

California Gov. Jerry Brown signed Assembly Bill 1515, which clarifies and corrects sections in the insurance code. The omnibus bill was authored by the Assembly Committee on Insurance and sponsored by Insurance Commissioner Dave Jones. AB 1515 restores the requirement …

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AmTrust Financial to Buy Texas-Based Insurer, Republic

AmTrust Financial Services Inc. announced that it has agreed to acquire Republic Companies Inc. and its affiliates (Republic) from Delek Group Ltd. and Republic Insurance Holdings LLC. Republic is based in Dallas. The purchase price is approximately $233 million, subject to …

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Griffith Insurance Education Award Goes to Ohio Mutual’s Kennedy

James Kennedy, CEO of the Ohio Mutual Insurance Group, was named the recipient of the 2015 Griffith Insurance Education Foundation Lifetime Achievement Award for his career-long dedication to education and support of the foundation. The award presentation took place Sept. …

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Safeco Names Brown Territory Manager in Louisiana

Kevin Brown has joined Safeco’s Central Region Distribution team as a territory manager in Louisiana. Brown has over 14 years of experience in insurance and is experienced in workers’ compensation underwriting and loss control. For the past 11 years he has worked …

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Heffernan Taps Todd Davis in Employee Benefits in California

Heffernan Insurance Brokers has named Todd Davis assistant vice president of employee benefits in its Walnut Creek, Calif. office. Davis will be working with Jani De La Rosa, director of employee benefits, to grow the division. Davis has a sales …

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Catholic Mutual, Church Mutual to Offer Workers’ Comp Coverage

Catholic Mutual Group, a coverage provider for the Catholic Church in North America, and Church Mutual Insurance Company (CMIC), a nationwide insurer of religious organizations, have formed a strategic alliance under which CMIC will underwrite auto and workers’ compensation insurance …

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Mass. AG: Encompass to Pay for Repair of Vehicles Brought to Unregistered Shops

A subsidiary of Allstate has agreed to pay for the correction of faulty repair work performed on motor vehicles brought to unregistered body shops in Massachusetts, Attorney General Maura Healey announced on Sept. 24. The assurance of discontinuance with Encompass …

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Governments Make Pledges on Climate to Curb Temperature Rise – Study

National promises to curb greenhouse gas emissions will help avert the worst levels of global warming by 2100, but more action is needed to keep temperature rises within the 2 degrees Celsius [3.6°F] limit set by governments, a study showed …

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Armstrong Settles with Dallas Insurer Over Tour de France Bonuses

Lance Armstrong settled a cycling promotion court fight on confidential terms but still has a lawsuit over a U.S. Postal Service sponsorship to contend with. Armstrong settled two related lawsuits with SCA Promotions Inc. over claims the former champion cyclist’s …

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Zurich Canada Issues ‘White Paper’ on Drones & Risk Management

Zurich Canada has released a new white paper on unmanned aircraft systems (UAS), commonly referred to as drones at the Risk and Insurance Management Society (RIMS) Canada Conference in Québec City. Entitled, “Hovering Over Opportunities: Managing risk with drones, and …

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Feds: Axle From Duck Boat in Deadly Washington Crash Sheared Off

Federal investigators say the left front axle of a duck boat involved in a deadly Seattle, Wash. accident was sheared off, but they don’t know if it was damaged before the collision with a charter bus that killed four international …

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California Gas and Electric Company Seeks to Split Costs on Uninsured Fire

San Diego Gas and Electric is seeking authority to bill its customers $379 million for legal settlement costs left over from 2007 wildfires that destroyed 1,300 homes and killed two people. In filings with state regulators Friday, SDG&E said customers …

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Oregon Homes Demolished Without Proper Asbestos Removal

Contractors have been tearing down hundreds of Portland homes without properly removing the asbestos inside, a practice that ignores state regulations and could put workers at risk. An investigation by The Oregonian found that weak regulatory oversight from the Department …

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Swiss Re Corporate Solutions Names Andrzejewski, Combes to Sales Posts

Swiss Re Corporate Solutions North America has named two members to its sales leadership team. Steve Andrzejewski joins the North America regional sales team as senior vice president, head of sales, Accident and Health. Daniel Combes has been appointed senior …

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U.S. Investors Sue Volkswagen Over Diesel Emissions Scandal

Volkswagen AG was accused in a lawsuit of scheming to defraud U.S. investors who paid artificially inflated prices for the company’s foreign shares while it cheated on vehicle emissions tests. In what may be the first investor suit over Volkswagen’s …

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Takata Air Bag Recall Could Be Expanded to Other Car Makers

The U.S. regulator overseeing the replacement of Takata Corp. air bags is considering an order that would expand the recalls and has contacted seven manufacturers who could be affected, including Volkswagen AG and Tesla Motors Inc. Takata identified the seven …

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Sommerrock Joins Geneva Ass’n. as Deputy Secretary Gen’l. – Insight Head

The Geneva Association announced the appointment of Dr. Fabian Sommerrock as Deputy Secretary General and Head of Insight. He joins the Association from Roland Berger Strategy Consultants where he was a principal at the Roland Berger Financial Services Competence Center …

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Court Now Likely for Joint Employer, Franchise Company Liability Case

A sanitation company at the center of a major U.S. labor board ruling that could force companies like McDonald’s Corp. to negotiate directly with franchise and contract workers has refused to bargain with workers hired by a staffing agency. The …

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Effect of U.S., China Cyber Pledge Unclear

The U.S. and China announced agreement on broad anti-hacking principles aimed at stopping the theft of corporate trade secrets though President Barack Obama pointedly said he has not ruled out invoking sanctions for violators. After a morning of meetings with …

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ACE to Appoint Andrade to Head Future Int’l. Non-Life Insurance Operations

ACE Limited announced that it intends to appoint Juan C. Andrade, as executive VP of the new Chubb Group and President of the International Non-life Insurance division, which encompasses operations with both retail broker and wholesale market distribution. The bulletin …

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Best Affirms ‘A+’ Ratings of Hannover Re and Subs; Outlook Stable

A.M. Best has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Germany’s Hannover Rueck SE (Hannover Re) and its main subsidiaries. Best also affirmed the issuer ratings of the existing …

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Typhoon Dujuan Nears Taiwan with Rain, Wind; Airlines Cancel Flights

Typhoon Dujuan lashed Taiwan with rain and wind as it neared the island on Monday, forcing schools to shut and disrupting land and air traffic. Cathay Pacific Airways Ltd. canceled or delayed about 30 flights Monday and Tuesday, the airline …

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Worldwide Facilities Hires Craane as New York Casualty Practice Leader

Worldwide Facilities, a wholesale broker and managing general agent based in Los Angeles, hired Bill Craane as vice president and New York Casualty Practice leader. He’s based in Worldwide Facilities’ New York City office. Craane brings to his new role …

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IFG Companies Hires Smith as Underwriting Manager in Connecticut

IFG Companies has hired Geoffrey J. Smith as underwriting manager of its nationwide Commercial Underwriting Renewal Center in Hartford, Connecticut. While managing the efficiency and effectiveness of the Commercial Underwriting Renewal Center, Smith will also have a senior leadership role …

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New York Regulator Orders Insurer Health Republic to Wind Down Business

New York authorities have ordered insurer Health Republic to stop writing new policies and wind down business after existing policies expire, citing the likelihood the nonprofit cooperative would become financially insolvent. The New York Department of Financial Services said on …

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Chicken Company Recalls 550K Pounds of Products from Mississippi Plant

Sanderson Farms, Inc. is voluntarily recalling 551,090 pounds of chicken products produced at its plant in Hazlehurst, Miss. Officials say a sample of the products analyzed by a customer of the company and the USDA was found to contain foreign …

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Florida Workers’ Comp Fraud Sting Leads to 9 Arrests

The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) announced nine arrests following a multi-agency workers’ compensation sting in Manatee County, Florida.  These nine individuals were found to have advertised their ability to perform jobs such as plumbing, …

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Tornado Damages 10 Homes in South Carolina Neighborhood

A tornado quickly blew through a neighborhood on the South Carolina coast early Friday and blew out windows, knocked down trees and heavily damaged ten homes. The tornado touched down around 1 a.m. with maximum winds of 130 mph. It …

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Former Mayor of Georgia Town Pleads Guilty to 12 Counts of Insurance Fraud

Former Milledgeville, Ga., Mayor Richard Bentley has pleaded guilty to 12 counts of insurance fraud. Multiple media outlets report that Bentley was sentenced in Baldwin County Superior Court to 10 years probation, given a $2,000 fine and ordered to perform …

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Earthquakes Knock Out Power in Oklahoma Town

Two earthquakes — including one of magnitude 4.0 — rattled Cushing, Okla., and caused power outages, but no injuries or significant damage is reported. The U.S. Geological Survey reports a 4.0 magnitude quake struck at 8:16 p.m. on Sept. 24 …

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Cardiologist in Ohio Convicted of Overbilling Insurers $7.2M

A federal court jury in Cleveland, Ohio, has convicted a cardiologist of ordering unnecessary medical tests, performing unnecessary procedures and submitting fraudulent bills totaling $7.2 million. Fifty-six-year-old Harold Persaud of Westlake was convicted of one count of health carefraud, 13 …

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Lafayette Residents May Still Appeal Flood Map Revisions

Residents of Louisiana’s Lafayette Parish have one final chance to appeal proposed FEMA flood maps. The Advocate reports it’s the first major revision in two decades for documents used to set home elevations and insurance rates in flood zones. The …

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Cyberattack Cost Illinois City $760K so Far

Naperville, Ill., city officials have spent about $760,000 on rebuilding its online network three years after a cyberattack wreaked havoc. City officials tell the Chicago Tribune insurance covered about 25 percent of the cost. Officials say there’s no evidence of stolen …

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5 Veteran Missouri Insurance Regulators Appointed to New Roles

Missouri Department of Insurance Director John M. Huff has appointed five veteran regulators to new and expanded leadership roles. Angela Nelson, director of the Market Regulation Division, has been tasked with the additional responsibility of chief industry liaison where she …

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Louisiana’s Eustis Insurance & Benefits Expanding to Dallas

Metairie, La.-based Eustis Insurance & Benefits Inc. is opening a new branch office in Dallas on October 1. Eustis president Tommy McMahon explained his company’s expansion into Texas is part of a comprehensive development strategy to grow beyond its historic Louisiana footprint. …

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Oklahoman Sued for Libel by Wife of ‘Dog the Bounty Hunter’

The wife of reality TV star “Dog the Bounty Hunter” is suing a former Fort Gibson, Okla.-area bondsman for libel. Beth Chapman claims that Lionel “Lenny” Biggers coordinated a “rampage of character attacks” against her on social media. The Tahlequah …

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New York Regulator Issues 1st Virtual Currency License to Company

New York State regulators have approved their first license to a company dealing in virtual currency such as bitcoin. Circle Internet Financial has outlined security, capitalization, controls against money laundering and other measures intended to protect consumers and root out …

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Planning the Special Event Coverage for Pope’s Philadelphia Visit

Pope Francis’ two-day visit to Philadelphia this weekend, which will close the Holy Father’s six-day apostolic journey to the U.S., has a special event policy in place with W.R. Berkley Corp. and OneBeacon Insurance as lead underwriters, according to a …

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Louisiana P/C Commission: Worker’s Comp Market ‘Remains Competitive’

In its annual report to the Legislature for 2014-2015, the Louisiana Property & Casualty Insurance Commission noted that the workers’ compensation market in the state “remains competitive.” There were 246 insurance companies providing workers’ compensation insurance in Louisiana in 2014, …

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Expert: Kansas Fracking Restrictions Coincide with Less Intense Quakes

A limit on the injection of saltwater into the ground by oil producers coincided with less intense earthquakes in south-central Kansas, according to a state geologist. The reduction in the magnitude of earthquakes mirrored the adoption of the Kansas Corporation …

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Ohio Town Ordered to Put Anti-Fracking Issue Back on Ballot

The Ohio Supreme Court has ruled that an anti-fracking measure in Youngstown must be put back on fall ballots. In a unanimous decision, the high court said the Mahoning County Board of Elections lacked the authority not to certify an …

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Texas Associates Insurors Adds Peterson as Risk Advisor

Texas Associates Insurors announced that Erik Peterson has joined the agency as a risk and insurance advisor, specializing in medical device, servicing and malpractice risk. Peterson has experience in the industrial and medical device industries. His tenure in the insurance …

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Great American Insurance Names Niehaus Property/Casualty Sr. VP

Great American Insurance Group based in Cincinnati, Ohio, has named James (Jim) R. Niehaus was named senior vice president and chief information officer of its Property and Casualty Group. Niehaus joined the Great American in 2007 as divisional assistant vice president …

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ACE Launches $100M Cyber Security Facility for Large Corporations

ACE Group has launched ACE’s Global Cyber Facility to offer cyber security insurance protection for large corporations. ACE’s Global Cyber Facility provides up to $100 million of primary capacity and incorporates integrated loss control services provided by cyber security experts, …

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No Coverage for Tony Stewart in Ward Race Car Death: Axis Insurance

Axis Insurance says the lawsuit brought against racing star Tony Stewart, whose car struck and killed another racer during a New York event in 2014, is not covered by the insurance policies it issued for Stewart. Axis maintains that its …

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California Court Rules Batmobile Entitled to Copyright Protection

Batman won’t have to worry about Batmobile knockoffs after a federal appeals court ruled Wednesday the caped crusader’s vehicle is entitled to copyright protection. The Batmobile’s bat-like appearance and other distinct attributes, including its high-tech weaponry, make it a character …

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Networked Brings on Stankowich and Hermsmeyer in California

Networked Insurance Agents has named Joe Stankowich sales vice president and the key point of contact for independent agency members in California’s San Francisco Bay, East Bay, Silicon Valley and Central Valley regions. Stankowich will assist agencies with Networked’s market …

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Insurance Wholesaler Socius Names 3 to Leadership Posts

Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, announced three changes to its leadership team. According to Patrick E. Hanley Sr., president of Socius, the changes are: Greg Miller of the Miami Beach, Florida office has accepted …

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Intellectual Property: Case of the Monkey’s Selfie and Animals’ Copyrights

A macaque monkey who took now-famous selfie photographs should be declared the copyright owner of the photos, rather than the nature photographer who positioned the camera, animal-rights activists contend in a novel lawsuit filed Tuesday. The suit was filed in …

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Workers’ Compensation Premiums Up 5.3% in First Half of 2015: Demotech

Workers’ compensation insurers reported a 5.3 percent increase in direct written premiums during the first six months of 2015 versus the same period in 2014, according to actuarial firm Demotech’s review of second quarter 2015 data. Demotech analyzed data reported …

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Car Dealers Sue Volkswagen Over Losses Tied to Diesel Cheating

Independent car dealerships sued Volkswagen AG in California on Thursday over losses they say they will incur following revelations that the company fitted some diesel models with software to cheat on U.S. vehicle emissions tests. The proposed class action was …

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How Regulators Caught Volkswagen’s Diesel Deception

The confession of cheating that’s embroiled Volkswagen AG in one of the biggest scandals in auto industry history came on a cool California morning, on the sidelines of an academic conference focused on green transportation. After more than a year …

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Zurich Joins CityMobil2 to Test Automated Self-driving Buses in Europe

Zurich Insurance Group announced that it has been selected as the insurance associate to CityMobil2, an EU-funded research project that is staging tests of automated road transport systems with self-driving buses across Europe. The announcement explained that the “project is …

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Argo Names Snowden Sr. VP for Communications, Public Relations

The Bermuda-based Argo Group International Holdings, Ltd. announced that David Snowden has been appointed to serve as senior vice president, group communications and public relations. Argo Group Head of Group Marketing and Communications Gary Grose noted Snowden’s “broad range of …

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Munich Re, Marsh Introduce Pharma Coverage for Regulatory Actions

Munich Re and Marsh & McLennan Cos., the largest insurance broker by market value, introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend manufacturing. The product would cover as much as $10 …

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Typhoon Dujuan Strengthens; Threatens Ryukyu’s, Japan,Taiwan, China: AccuWeather

AccuWeather has reported that Tropical Storm Dujuan is on track to strengthen into a powerful typhoon with Japan’s Ryukyu Islands in its path and mainland Japan, Taiwan and eastern China on alert for potential impacts. “Dujuan has been steadily strengthening …

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Duperreault’s Hamilton Seeking Takeovers as IPO Likely

Hamilton Insurance Group Ltd., the company backed by hedge fund firm Two Sigma, is seeking more takeovers as CEO Brian Duperreault builds a business that he expects to take public. “We’re always looking. My job is to continually look for …

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USI Insurance Services Acquires Benefit Controls of the Carolinas

USI Insurance Services has acquired the employee benefits business of Benefit Controls of the Carolinas, Inc. This is the first acquisition in North Carolina for USI. An employee benefits consulting firm, Benefit Controls of the Carolinas, Inc. designs and manages …

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Kentucky Considering Roadside Drug Tests for Drivers

The Kentucky Office of Highway Safety is working with local county officials to evaluate a roadside drug test that could help police address the growing number of drivers who are high behind the wheel. The agency and authorities in Louisville, …

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CoreLogic Adds Probabilistic Flood Model to Risk Management Program

CoreLogic, a residential property information, analytics and data-enabled services provider, has released an expanded version of its natural catastrophe risk management program, which features a probabilistic flood model to analyze the potential damage and financial impact at the property-level from …

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North Carolina Fines Companies Involved in Fatal Scaffolding Accident

The North Carolina Labor Department has fined three companies in connection with the deaths of three workers killed when scaffolding fell at a high-rise construction project in downtown Raleigh, including one that was cited for violations described as willful and …

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Delaware Gov. Markell, Education Officials Tout Statewide School Safety Efforts

Delaware officials are celebrating the completion of a statewide effort to improve safety in public schools. Delaware Gov. Jack Markell joined education and law enforcement officials Tuesday to recognize the completion of comprehensive safety plans across Delaware’s school system. Officials …

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Corporate Synergies in New Jersey Announces 2 Appointments

Corporate Synergies, a property/casualty brokerage and employee benefits consulting firm based in Mount Laurel, New Jersey, hired Alex Alday as vice president of account management. Alday recently worked at Lyons Companies as commercial lines team Leader before joining Corporate Synergies. …

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Farmers Insurance Opens Its 1st Territory Office in Connecticut

Farmers Insurance, which began providing insurance and financial services to Connecticut consumers on Jan. 1, 2015, announced the opening of the company’s first territory office in the state. The new office, located in Danbury, Connecticut, opened its doors with a …

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North Carolina Health Care Whistleblower Case Ends With $118.7M Settlement

The actions of three whistleblowers from Park Ridge Hospital in Hendersonville, North Carolina have yielded what an attorney says is the largest ever settlement in a health care whistleblower case involving physician referrals to hospitals. According to a settlement agreement …

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Der Manouel Taps Wood as Marketing Director in California

Der Manouel Insurance Group in California has named Jim Wood as director of marketing. Wood will work with the DMIG consultants and service staff in finding the carrier solutions for clients. He will also help to develop industry specific programs …

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Schermerhorn Named Vice President of Lockton in California

Lockton Cos. has named Jeff Schermerhorn vice president in its cyber technology practice. Schermerhorn will be based in Lockton’s Los Angeles office. He will offer clients tailored programs to shelter them from the increasing threat of cyber attacks. Lockton is …

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Tax Liens Against Ohio Insurance Agents Surpass $15M

Ohio Lieutenant Governor Mary Taylor announced that as of September 2015 the insurance agent tax lien program has collected or set-up payment plans totaling $15,149,631 in unpaid income tax, sales tax and workers’ compensation premium payments. Taylor introduced the program …

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Hyundai Fire & Marine Enters California Homeowners Market

King Insurance has created a strategic partnership with Hyundai Marine & Fire Insurance Co. to sell Hyundai’s recently filed, California Homeowner Insurance products. Policies will be sold through King’s independent agent network. Hyundai Marine & Fire Insurance Co. is a …

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Pennsylvania Reminds Health Insurers to Keep Provider Directories Up to Date

Pennsylvania Insurance Commissioner Teresa Miller is reminding health insurers that they must keep their provider directories up to date and that consumers should not pay higher out-of-network costs if they use a health care provider who is out-of-network but, at …

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Report: Despite Monetary Awards, Job Creation Lags in Wisconsin

Wisconsin’s troubled job-creation agency handed out more awards last year but created fewer jobs, according to its annual report. The Wisconsin Economic Development Corporation awarded nearly $90 million more in economic development awards last year than the previous year, according …

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Missouri High Court Rules against Chiefs in Age Discrimination Suit

The Missouri Supreme Court has given fresh life to a lawsuit that claims the Kansas City Chiefs fired an older maintenance manager because of his age. In vacating a Jackson County jury’s decision that the club didn’t discriminate in Steve …

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Southwest Louisiana Town Still Struggles a Decade after Hurricane Rita

Vacant slabs, weed-choked lots and solitary stairs to nowhere permeate Cameron, a tiny town in southwest Louisiana. All that remains of the Klean-N-Kruise car wash is a rusted white sign overlooking an empty, overgrown lot. Residents travel 30 miles away …

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Texas Sets Workers’ Comp Maximum Weekly Benefit at $895

The workers’ compensation state average weekly wage for dates of injury from Oct. 1, 2015, through Sept. 30, 2016, has been set by the Texas Department of Insurance’s Division of Workers’ Compensation at $895.08. The maximum weekly benefit rates for …

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Mass. Developer Charged With Masterminding Arson for Insurance Money

A millionaire developer and restaurant owner in Massachusetts has been charged with masterminding the arson of an under-construction home so he could collect the insurance money. Alan Kaplan, of Brookline, Massachusetts, was granted $10,000 bail and ordered to surrender his …

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Scottsdale Names Nelson to Lead Contract Underwriting

Surplus lines carrier Scottsdale Insurance Co. has named David Nelson as the leader of contract underwriting. Nelson has been with Scottsdale Insurance since 1991. His most recent position was CFO for the Scottsdale Insurance Group of Companies, Nationwide Agribusiness and …

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Health Insurer CEOs Defend Big Mergers Before Senate

Leaders of two major health insurers planning multibillion dollar acquisitions made their case to Congress this week that bigger can mean better in their industry, but concerns are being raised in Washington about how these deals will affect consumers and …

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HUB Names Eggleston Managing Director in California

Kevin Eggleston has joined HUB California as managing director responsible for the hospitality practice. Eggleston will be based in the HUB California Sacramento office. Eggleston began his career in management positions with luxury hotels in Boston, Charlotte, San Francisco and …

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Tropical Rains a Mixed Bag for Southwest Drought Relief

The tropical Pacific is sending a big dollop of rain into the U.S. Southwest. While it won’t help much in drought-ridden California, it’s another step in the right direction for Arizona and New Mexico. The annual monsoon can ease the …

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Washington Labor Department Seeks 2% Workers’ Comp Rate Hike

The Washington State Department of Labor & Industries is proposing an average 2 percent rate workers’ compensation increase for 2016. Each fall L&I sets workers’ comp rates for the following year. L&I looks at expected workers’ comp payouts, the size …

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Treasury Names 9 to Panel on Private Insurance Market for Terrorism Insurance

The U.S. Department of the Treasury today announced the appointment of nine people to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) to spur the private market for terrorism insurance. The ACRSM, authorized by the Terrorism Risk …

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Music Publisher Loses Bid Over Copyright for ‘Happy Birthday’ Song

A U.S. judge on Tuesday ruled that Warner/Chappell Music does not own a valid copyright to one of the world’s most recognizable songs, “Happy Birthday to You,” a decision that brings the song into the public domain. The highly-anticipated ruling …

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WSJ: Towers Watson CEO Haley Sold Shares During Willis Merger Talks

Towers Watson & Co. Chief Executive John Haley sold shares in the human resources consultancy for a profit of about $9.7 million while the company was discussing a merger with Willis Group Holdings, the Wall Street Journal reported. The announcement …

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EU Supervisors Face ‘Binding Mediation’ on Simple ABS Disagreements

National authorities in the European Union will have to submit to binding arbitration if they can’t decide whether to apply the bloc’s new rules on simple securitizations to a transaction, a European Commission document shows. In the undated draft regulation on …

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ADB, OECD Call for Governments, Insurers to Address Disaster Relief

Representatives from the Asian Development Bank (ADB) and the Organization for Economic Cooperation and Development’s (OECD) Global Seminar on Disaster Risk Financing fostered an in-depth debate on the development of effective approaches to the financial management of disaster risks, in …

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Widow of Tennessee Man Who Died in Custody Sues for $1M

The wife of a man who died in custody at the Kingsport City Jail has filed a $1 million wrongful death suit. WJHL-TV reports Benjamin Honaker was arrested on Sept. 19, 2014, following a car crash. Officers said Honaker had …

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Florida’s Broward County Pushes Back Vote on Ridesharing

Broward Count, Florida officials have had to delay a vote on the approval of ridesharing services such as Uber because a commission has not finished discussing amendments to the proposed rules. The Palm Beach Post reports that the Broward County …

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Atlanta-Based AssureSign Adds George as GM of Global Insurance Solutions

Electronic signature software provider, AssureSign, has hired Dianna George to the newly-created position of general manager of Global Insurance Solutions. In her role, George will direct operations and support for AssureSign’s insurance industry customers, and will lead strategic business development …

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A.M. Best: Sub-Saharan Re/Insurance Markets Attract Capacity Despite Challenges

Much has been said in recent years about the opportunities presented by the buoyant strides in economies across the African continent together with challenges that market participants have to overcome; the continent’s re/insurance industry is no exception, according to a new report …

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Barrett Appointed Chief Financial Officer of Hamilton Underwriting Limited

Hamilton Underwriting Limited, the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, announced that Simon Barrett has been appointed to the position of chief financial officer. Barrett reports to managing agency Chief Executive Officer …

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Texas Goes From Drought to Flood to Drought in 60 Days

Across eastern Texas, parts of Louisiana and Mississippi the land went from moist to parched in a matter of weeks. Drought, which had been eradicated in Texas last spring, returned and spread across the South, reaching as far as the …

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California Blazes Destroy 2,000-plus Homes, Curb Insurer Appetites

A pair of massive California wildfires have destroyed more than 2,000 structures, ranking among the most damaging fires in state history, and they could change the way insurers view risk or conduct underwriting in rural areas in the drought-plagued state. …

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Vanner Insurance Agency Acquires Edmund D. Stevens in New York

Vanner Insurance Agency, an independent agency based in Amherst, New York, announced that it recently boosted its marine insurance business by acquiring Buffalo, New York-based agency Edmund D. Stevens Inc. and its marine division, Stevens Marine Insurance Agency. Terms of …

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Deadline Looms in Virginia to Seek Disaster Loans for July Storm Damage

A deadline is looming for Virginia businesses, private nonprofits, homeowners and renters to seek disaster loans for physical damage caused by severe weather and flooding on July 5. The U.S. Small Business Administration says low-interest loans are available in Bland, …

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Drought-Related Disaster Loans Available to 2 West Virginia Counties

Small businesses and private nonprofit organizations in two counties in West Virginia can apply for federal disaster loans for economic injury resulting from drought. The U.S. Small Business Administration’s economic injury disaster loans are available in Pendleton and Pocahontas for …

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Rhode Island Directs Insurers Using Price Optimization to Submit Revised Filings

Rhode Island’s Insurance Division issued a bulletin on Sept. 18 advising that any personal lines property/casualty insurer that uses price optimization to rate policies in Rhode Island should submit revised filings that remove such factors within 60 days after the …

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Marsh, Munich Re Launch Life Sciences Business Interruption Coverage

Marsh and Munich Re have launched non-damage business interruption insurance (NDBI) product that combines risk transfer and consulting services to assist life sciences companies in managing the impact of regulatory actions imposed by the US Food and Drug Administration (FDA). …

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Roach Howard Smith & Barton Launches Private Health Benefit Exchange

Dallas-based Roach Howard Smith & Barton announced it is now offering a private health benefit marketplace for businesses. The Assurex Global Private Exchange is a private marketplace platform that gives employers a range of administrative flexibility and employee health benefit …

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Study: Number of Hispanic Business Start-Ups Highest in Midwest

The growth in Hispanic-owned businesses in the United States is outstripping that of companies in general and the fastest growth has been in Midwest states, according to a study released Sept. 21. The number of Hispanic-owned businesses grew by 30 …

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Minnesota DOT: Farm Vehicle Crashes Rise During Harvest Time

Safety officials in Minnesota are urging motorists to safely share the road with farm equipment as the harvest gears up. The Minnesota Department of Transportation says drivers need to watch out for slow-moving farm machinery transporting crops to markets, grain …

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Toro Awarded $24.3M in Patent Dispute with Briggs & Stratton

A Nebraska-based unit of the Toro Co. has been awarded $24.3 million in a patent infringement lawsuit against Briggs & Stratton. The Lincoln Journal Star reports the jury agreed with Exmark Manufacturing’s arguments that Briggs & Stratton violated a patent for …

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Pier 1 Imports Fined $86K for Safety Hazards at 2 Texas Sites

Pier 1 Imports Inc. has been cited by the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) for workplace safety hazard at facilities in Fort Worth and Mansfield, Texas. Proposed penalties total $86,100. The company was cited for three …

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Size of Firms Allowed to Participate in Insure Oklahoma Expands

Gov. Mary Fallin says Insure Oklahoma is increasing the size limit of employers who can participate in the program. Fallin and the Oklahoma Health Care Authority said that Insure Oklahoma is raising its employer size limit from 99 to 250 …

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Brit Announces Investment in New York-Based Ambridge Partners

Brit Limited, a global specialty insurer and reinsurer based in London, announce that it has made a significant strategic investment in Ambridge Partners LLC, a New York-based managing general underwriter of transactional insurance products and a key trading partner of …

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Obama Declares Major Disaster in California Wildfire

President Barack Obama declared a major disaster Tuesday in a Northern California wildfire that has destroyed at least 1,200 homes and killed at least three people. The declaration issued for the fire that broke out in Lake County 90 miles …

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Brit Invests in Transaction Insurance Specialist Broker Ambridge

Ambridge Partners LLC, a managing general underwriter of transactional insurance products, announced that specialty insurer Brit Limited has made a “significant strategic investment” in Ambridge. The amount of the investment, which is subject to regulatory approval, was not disclosed. Brit …

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Report Shows Higher Smoking, Drinking Among Utah Construction Workers

Utah residents who work in construction and manufacturing are more likely to smoke and binge drink than workers in other industries, according to a new report from Utah’s Department of Health. The data is based on a telephone survey of …

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Uber, Lyft Drivers Already Racking up Citations at Las Vegas Airport

Drivers with Uber and Lyft are already racking up citations after a week of doing business in Las Vegas. McCarran International Airport spokesman Chris Jones confirmed authorities cited 87 drivers as of last week for not being authorized to drop …

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Erie Indemnity CFO Dall to Leave Post in October

Erie Indemnity Co. announced that Marcia A. Dall, executive vice president and chief financial officer, is leaving the company in October to take another position. The company said Dall has accepted the position of executive vice president and chief financial …

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BB&T Insurance CEO Reece to Retire; Howard Named Successor

Winston-Salem, N.C.-based BB&T said that H. Wade Reece, chairman and CEO of BB&T Insurance Holdings Inc., will retire at the end of the year. Reece will complete a 37-year career with BB&T in which BB&T Insurance Holdings has grown through …

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OSHA Extends Comment Period for Injury Reporting Rule

The Occupational Safety and Health Administration (OSHA) is extending the deadline for submitting comments on a proposed rule that it says clarifies an employer’s continuing obligation to make and maintain an accurate record of each recordable injury and illness. The …

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OneBeacon Names Iannotti as Professional Liability President

John Iannotti has joined OneBeacon Insurance Group as president of Professional Liability. Iannotti will oversee OneBeacon’s financial services, management liability and design professional liability business units, which are led by Craig Collins, Stacy Paquet and Bruce Demeter, respectively. He will …

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China’s President Xi Pledges ‘New Model’ of ‘Mutual Respect’ with U.S. Amid Tensions

Chinese President Xi Jinping opened his U.S. visit by seeking to ease concerns on almost every dispute between the two powers, even expressing readiness to cut a deal on one of the thorniest issues, cybersecurity. In a 35-minute speech in …

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Clinton Targets High Drug Prices, Consumer Marketing

U.S. Democratic presidential candidate Hillary Clinton proposed on Tuesday a $250 monthly cap on out-of-pocket prescription drug costs and other measures to stop what she called “price gouging” by pharmaceutical companies. At a campaign stop in Iowa, Clinton rolled out …

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Aetna Vows to Hike Pay for Low Wage Humana Workers After Takeover

Aetna Inc. plans to give raises to thousands of low-wage Humana Inc. employees as part of its acquisition of its smaller health-insurance rival. Pay for about 10,000 Humana employees will be lifted to $16 an hour after the deal closes, …

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1st Generali Global Graduate Program Launches with 20 Young Participants

International profile, excellent resume and broad-ranging skills are the qualities of the 20 young adults chosen by Generali for the first “Generali Global Graduate Program,” an international program aimed at employing talented individuals to develop within the group and project …

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Drivers Not Ready for Autonomous Parking: AAA

As automakers increasingly integrate self-parking features into new vehicles, Americans say they are not ready to give up control. According to a new survey from AAA, nearly 80 percent of American drivers are confident in their parallel parking abilities and …

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Swiss Re Unit, Admin Re, Buys Guardian Financial Services for $2.5 Billion

Swiss Re AG’s business unit Admin Re agreed to acquire Guardian Holdings Europe Ltd. from buyout firm Cinven for 1.6 billion pounds ($2.5 billion) to increase its portfolio of UK life-insurance policies. The purchase is subject to regulatory approval and …

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Institutional Investors’ Fossil-Fuel Divestment Exceeds $2.6 Trillion

Portfolio managers have pledged to steer $2.6 trillion in investments away from fossil fuels in an effort to prevent catastrophic climate change. That’s a 50-fold increase from the cumulative total a year ago, $50 billion, as environmental groups increased pressure …

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Former Peanut Exec Gets 28 Years for Georgia Plant Salmonella Outbreak

A former peanut company executive was sentenced Monday to 28 years in prison for his role in a deadly salmonella outbreak, the stiffest punishment ever handed out to a producer in a foodborne illness case. The outbreak in 2008 and …

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Report: Law Enforcement Claims Cost South Carolina $17M in 2014

South Carolina taxpayers are spending millions of dollars a year addressing alleged misdeeds by law officers or detention officials including excessive force and civil rights violations. The Greenville News reports the state last year spent $17 million to defend officers …

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Bayer CropScience Settles West Virginia Explosion Suit for $5.6M

Bayer CropScience LP has reached a $5.6 million settlement over an explosion at its Institute, West Virginia, facility that killed two people in 2008, U.S. authorities said on Monday. The company will spend $4.23 million to improve emergency preparedness and …

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QBE Relocates Wulff to Hong Kong, Anticipating Growth of Credit & Surety in Asia

QBE Emerging Markets – Asia Pacific announced that its group general manager of Credit & Surety, Richard Wulff, will be relocating to Hong Kong from Singapore, effective January 2016. Wulff is relocating to support the Asia Pacific teams and the …

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Markel International Appoints Hu to Head China Business

Markel International, the specialist insurer, has appointed Hu Qianhai to head its business in the People’s Republic of China, based in Shanghai. Markel has had a presence in China since 2011, when it opened a representative office in Beijing and …

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Former Florida Insurance Agent Arrested for Stealing $20K in Premiums

The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) announced the arrest of Lisa Dwyer, 49, a formerly licensed insurance agent employed by Southeast Insurance Agency in Davie, Fla., after she allegedly stole more than $20,000 in premium …

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10 Auto Insurance Discounts To Cut Your Car Insurance

Everybody loves a bargain especially on car insurance. Besides maintaining a spotless driving record, there are lots of ways to cut your premium. One of the best is to uncover all the available discounts to lower your car insurance. Some will be a...

from EINSURANCE.(com): EInsurance Journal Auto Insurance Articles

Philadelphia Controller’s Office Criticizes Building Inspections

An agency under fire since a 2013 building collapse killed six people jeopardizes public safety by allowing uncertified workers to conduct building inspections, Philadelphia city auditors said. The two building inspectors who weren’t properly certified performed 1,900 inspections, the Philadelphia …

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Engle-Hambright & Davies Announces 2 Appointments in Pennsylvania

Engle-Hambright & Davies Inc. (EHD), an independent insurance agency based in Lancaster, Pennsylvania, hired Matthew Swanick as Construction and Surety Practice group leader in the Commercial Department. Prior to joining EHD, Swanick most recently worked for Wells Fargo Insurance Services …

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Wisconsin Contractor to Pay $140K to Settle Age Discrimination, Retaliation Suit

Stack Bros. Mechanical Contractors Inc. of Superior, Wis., a heating and plumbing contractor in northern Wisconsin and northern Minnesota, will pay $140,000 and furnish other relief to settle an age discrimination and retaliation lawsuit brought by the U.S. Equal Employment …

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Rig Crew Blamed for 2013 Gas Well Blowout in Gulf of Mexico

A long-delayed federal investigative report into gas well blowout off the coast of Louisiana two years ago has faulted the drilling rig’s crew for a blowout that destroyed the well at a cost of nearly $60 million. WWLTV reports that the …

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Iowa’s New Highway Cable Barriers Helping to Reduce Fatalities

An effort to build cable barriers on Iowa’s highways has helped reduce the number of cross-median fatal crashes. After 21 people died as a result of cross-median collisions in 2010, state officials installed 177 miles of cable median barriers. Since …

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Royalty Lawsuits Against Chesapeake Consolidated in Texas

More than 400 lawsuits have been consolidated in Texas, where energy drilling giant Chesapeake Operating Inc. is accused of withholding more than $1 billion in royalty payments from about 25,000 property owners. “The vast majority are just smaller landowners, even …

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Trying to Put a Price Tag on Volkswagen’s Emission-Fraud Scandal

An $18 billion liability figure attached itself last Friday to Volkswagen’s diesel disaster. This morning comes news that the German car maker has set aside $7.3 billion (€6.5 billion) to cover a scandal spreading worldwide. How to make sense of these …

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DOL: Halliburton Owes Nearly $18.3M in Overtime Pay

The U.S. Department of Labor reported that Houston-based oil and gas service provider, Halliburton, has agreed to pay $18,293,557 to 1,016 employees nationwide after the company was found to have incorrectly categorized the workers. The department’s Wage and Hour Division …

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Uber Sues St. Louis Taxi Commission Over Ride-Sharing Ban

An Uber Technologies Inc. company accused the St. Louis Metropolitan Taxicab Commission in a lawsuit of functioning as a cartel with cab companies to ban its ride-sharing service in what it says is the largest U.S. city without it. Uber, …

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Former Maryland Commissioner Goldsmith Joins Law Firm Hogan Lovells

Law firm Hogan Lovells announced that former Maryland Insurance Commissioner Therese Goldsmith has joined firm’s Health practice and the Insurance Industry sector group as a partner in the Baltimore office. Goldsmith was appointed as Maryland’s insurance commissioner in May 2011 …

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Employees’ Share of Health Insurance Costs Rising

Health insurance costs have been rising at historically low rates over the last several years. Yet it may not feel that way to consumers. While premiums — what companies and workers pay to buy health insurance– have been rising slowly, …

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Delaware Recovered $995K for Insurance Consumers During 1st Half of 2015

Delaware Insurance Commissioner Karen Weldin Stewart and the Delaware Department of Insurance announced that its Consumer Services Division has recovered $995,558 for consumers during the first six months of 2015. The Delaware Department of Insurance said its Consumer Services Division …

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Oregon Woman Loses Home, Then Her Insurance

An elderly southern Oregon woman says she’s been left to depend on friends and family after her home was gutted in a suspected arson and her insurance company canceled her policy. Insurance industry officials contend the process of handling fire-related …

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Oregon Jury Awards $3M to Nurse in Wrongful Termination Suit

A Portland, Ore. jury has awarded more than $3 million to a nurse, saying she was wrongfully terminated by Legacy Good Samaritan Medical Center for complaining about cost-cutting measures. The Oregonian reported registered nurse Linda Boly told management that rushing …

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The Hartford’s Nelligan Named Chairman of IICF’s Texas/Southeast Division

The Insurance Industry Charitable Foundation (IICF) has named Tim Nelligan, central division executive for The Hartford, as chairman of its Texas/Southeast Division board of directors. Nelligan assumes the chairmanship having previously served on the Division’s board of directors for three …

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Willis Names Bernal Public Entity Practice Leader in Arizona

Willis North America has named Paula Bernal public entity practice leader at Willis of Arizona. Bernal will be based in Phoenix, and lead Willis of Arizona’s public entity practice and be responsible for driving business development within Willis’s portfolio of …

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17.6 Million Gained Health Insurance Through Law: Report

The U.S. national healthcare reform law has extended health insurance coverage to 17.6 million Americans, according to a new government report on Tuesday, up from its previous estimate of 16.4 million. The number of uninsured has decreased because of changes …

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ACE Names Littooij European Product Champion, Small Marine Commercial

ACE Group announced the appointment of Paul Littooij, currently marine manager for ACE in Benelux, to the additional role of European product champion, Small Marine Commercial, as it continues to expand its team to better cover the insurance needs of …

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ACE Takes 24% Stake in CoverHound’s Online Commercial Insurance Plans

CoverHound has raised $33.3 million in a financing round led by ACE Group, which the company plans to use in to help it build an online commercial insurance platform starting with businessowners policy insurance offerings that could be available next …

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Aon Outlines New Growth Paths for Re/Insurers at 14th Hazards Conference

Aon Benfield is examining how insurers and reinsurers can identify and capitalize on new growth opportunities amid challenging market dynamics at its 14th Biennial Hazards Conference in Australia. Aon noted that it’s “one of the largest gatherings of hazard risk …

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Overcapacity Weighs on Middle East, No. Africa Reinsurers: A.M. Best Report

A special report from A.M. Best notes that the “low level of insurance penetration seen in many Middle East and North Africa (MENA) countries, combined with the robust, albeit deteriorating, profitability achieved by the leading primary insurers, has made the …

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A.M. Best Explains Its Rating Fundamentals for Hedge Fund Reinsurers

Since the Aug. 11, 2015 withdrawal of PaCRe Ltd.’s financial strength rating and issuer credit rating at the company’s request, A.M. Best said there has been considerable speculation about A.M. Best’s view on these hedge fund-sponsored reinsurers. A.M. Best said …

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AIR Estimates Insured Losses from Chile Earthquake at $600 to $900 Million

Catastrophe modeling firm AIR Worldwide estimates that insured losses from the Magnitude 8.3 earthquake that struck Chile’s central coast near Illapel on September 16 will be between CLP 400 billion ($600 million) and CLP 600 billion ($900 million). “The September …

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Endurance Names Gallagher as Chief Risk Officer

Endurance Specialty Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Christopher Gallagher will assume the position of chief risk officer and group actuary, effective immediately. Gallagher succeeds Joan deLemps who announced her intention to …

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OSHA Citations Against ‘Midnight Rider’ Production Company Upheld

Citations issued by The U.S. Department of Labor’s Occupational Safety and Health Administration against Film Allman LLC in August 2014 were upheld Sept. 15 by Judge Sharon D. Calhoun of the Occupational Safety and Health Review Commission. The citations for …

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RSA’s Hester Expects More Bids After Zurich Abandons Takeover Offer

RSA Insurance Group Plc Chief Executive Officer Stephen Hester said the company will attract bids from other suitors after Zurich Insurance Group AG abandoned its 5.6 billion-pound ($8.7 billion) offer for the British insurer. “I am sure that this company will get other approaches …

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Galveston Razing Hurricane Ike-Damaged Homes

Galveston is moving on from repairing and rebuilding homes damaged from Hurricane Ike to demolishing homes left dilapidated by the storm that devastated the Texas coastal island seven years ago this month. John Simsen, the city’s disaster recovery director, said …

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West Virginia Livestock Producers Offered Pilot Insurance Program

A pilot insurance program is being offered to West Virginia livestock producers to help manage financial risk. The Rainfall Index Pasture, Rangeland, Forage program’s payments aren’t based on single weather stations or individual rain gauges. Instead, the program uses a …

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McCarty Earns Lifetime Achievement Award from Florida Association

Florida Insurance Commissioner Kevin McCarty was recognized with a lifetime achievement award for his 27 years of public service by FAIR, the Florida Association for Insurance Reform on Sept. 17. McCarty was the first non-elected insurance commissioner for the state …

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Florida University to Pay $1.1M to Family of Drum Major Killed in Hazing

Florida A&M University reached a $1.1 million settlement Sept. 18 with the family of a drum major who died after being hazed by fellow band members. The university agreed to name the marching band’s anti-hazing program after Robert Champion as …

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Californians Pushed by Wildfires into High-risk Insurance Market

There are lots of reasons people live in California’s Modjeska Canyon. Nestled against the mountains and abutting the Cleveland National Forest, the area has abundant wildlife and access to nature, yet is just a 20 minute drive from larger Orange …

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California Judge Slaps Down Uber Bid to Force Arbitration on Driver

A former Uber Technologies Inc. driver defeated the company’s bid to force her into arbitration, a second victory after California’s labor commissioner said she should have been considered an employee. A San Francisco state judge sided with the driver Monday, …

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Judge Advances Greenberg’s Starr Suit Over Tax Refund

Maurice “Hank” Greenberg’s Starr International Co. can move forward with a lawsuit claiming the U.S. owes it a $38 million tax refund. A Washington federal judge on Friday rejected government claims that the reason for denying the refund can’t be …

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Monte Carlo 2015: Reinsurers Reexamine How They Do Business

The annual Rendez-Vous de Septembre in Monte Carlo, Monaco traditionally focuses on one or two signatory concerns within the industry. This year, things were different. The 2,700 registered attendees were faced with addressing the pace of change within and without …

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Mass. Gov. Baker Hopes Disagreements Won’t Scuttle Uber Regs

Massachusetts Gov. Charlie Baker says he hopes disagreements over how to regulate ride-hailing services such as Uber and Lyft won’t keep lawmakers from passing a bill soon. A legislative committee reviewed several proposals — including one filed by Baker — …

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Judge Blocks Texas Company’s Attempt to Shield $600K from Disabled Workers

U.S. District Chief Judge Jorge A. Solis issued an order on Sept. 11, 2015, to override a confidential settlement that would have re-directed nearly $600,000 away from a class of 32 intellectually disabled former employees of Goldthwaite, Texas-based Hill Country …

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Mass. Senate Panel to Examine Recent Hikes in Home Insurance Rates

A Massachusetts Senate panel is examining recent hikes in homeowner insurance rates in Massachusetts. The Senate Post Audit and Oversight Committee has called insurance company officials and state regulators to testify at a public hearing on Tuesday. Sen. Michael Barrett, …

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Tornadoes Damage Homes Along Kansas/Missouri Border

A pair of tornadoes along the Kansas-Missouri border with speeds of up to about 110 mph damaged homes and caused minor injuries, officials said. The first twister touched down around 6:30 p.m. Friday about 40 miles south of Kansas City, …

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Texas Windstorm Insurance Assoc. Seeks Hike in Liability Limits

The Texas Department of Insurance will hold a public hearing on a request by the Texas Windstorm Insurance Association to increase maximum policy liability limits. The hearing under Docket No. 2780 will be held at 10:30 a.m., on Thursday, Oct. …

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Texas OKs 11 Companies to Self-Insure for Workers’ Comp

The Texas Department of Insurance’s Division of Workers’ Compensation (DWC) re-certified 11 employers to self-insure workers’ compensation claims. Together, the companies employ about 50,000 people in Texas. DWC renewed: American Electric Power Company Inc. Archer-Daniels-Midland Company FedEx Ground Package System …

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Texas Surplus Line Stamping Fee Rate to Increase Jan. 1

The surplus lines stamping fee rate in Texas will increase next year to 0.115 percent of the gross premium amount of surplus lines insurance polices, the Surplus Lines Stamping Office of Texas (SLSOT) reported. The increased stamping fee rate will …

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Illinois Town Facing $15M Settlement over Tainted Water

Officials in the village of Crestwood, Ill., are moving toward a possible $15 million payout to settle lawsuits over the Chicago suburb’s decades-long use of contaminated well water in its drinking supply. The Daily Southtown reports that village trustees approved …

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Fire Erupts after Ethanol Tankers Derail in South Dakota

Seven ethanol tanker cars derailed and at least one caught fire Saturday in southeastern South Dakota, according to Burlington Northern Santa Fe Railroad. The company said no one was hurt. The 98-car train carrying ethanol derailed about 6:15 a.m. in …

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Schinnerer Names Hanuschak as President

Specialty program manager Victor O. Schinnerer & Co. Inc. said it has appointed Brian Hanuschak as president. In his new role, Hanuschak will be responsible for leading operations and developing business across the firm’s range of specialty insurance products. His …

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Oregon Office Building Will Give Tenants Earthquake Warning

A Portland, Ore. office building will be able to warn tenants when an earthquake is about to strike. KGW-TV reported that the Radiator building is equipped with an earthquake early warning system. Sensors buried below the building can detect an …

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Wyoming Man And His Insurers to Pay $2.9M for 2012 Wildfire

A man who accidentally started a 2012 wildfire that burned over a mountain and threatened the town of Jackson has agreed to a $2.9 million payment under a legal settlement. James G. Anderson Jr., 79, will be responsible for $425,000. …

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Bloomberg View: California’s Wildfires Didn’t Have to Be So Extreme

Warming temperatures and a historic drought made Northern California’s Valley fire faster to spread and harder to fight. But the bigger culprit, sadly but thankfully, was something under human control: forest mismanagement. There are five times as many trees per acre …

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California Wildfires Destruction Total Now Tops 1,000 Homes

It has been several days since two huge wildfires in Northern California peaked in their ferocity, yet the damage they did is still being revealed daily. The tally of homes destroyed topped 1,000 on Saturday after authorities assessing damage in …

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Beazley, Aspen and Brit Launch ‘International Cyber Consortium’ at Lloyd’s

Beazley has joined forces with Lloyd’s syndicates managed by Aspen and Brit Global Specialty to launch the International Cyber Consortium. The consortium will focus on providing robust data breach cover to businesses domiciled outside the United States with revenues in …

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Sierra Specialty Launches New Agri-Services Insurance Program

Sierra Specialty has launched a new program that provides general liability & professional liability for agri-services, including agricultural crop spraying; advisors & farm managers; pest & weed applicators & advisors; farm labor contractors; farm machinery operators; and landscape contractors & …

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Taxi Owners’ Credit Union, Hurt by Uber, Seized by New York Regulator

Montauk Credit Union, a large provider of loans to taxi medallion owners, was seized on Friday by New York State’s top financial regulator. The New York State Department of Financial Services said the seizure was necessary because the credit union, …

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New York Fears Audit of Insurer in Albany Probe Could Trigger Insolvency, Rate Hikes

New York doctors, some of whom already pay 10 times more for malpractice insurance than physicians in San Francisco, may see their rates soar thanks to a state audit beginning this month. Physicians’ Reciprocal Insurers, whose shaky finances are central to …

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Aetna Says Federal Regulators Want More Information on Humana Acquisition

Health insurer Aetna Inc . said on Friday that the U.S. Department of Justice asked for more information on its pending $37 billion acquisition of Humana Inc . The DoJ’s so-called “second request” will delay by 30 days the expiration …

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Why No GM Employees Have Been Prosecuted for Faulty Ignitions

The chief U.S. prosecutor in Manhattan blamed gaps in federal law and “siloing” within General Motors Co. for the failure so far to charge any individual employees who may be responsible for faulty ignition switches linked to 124 deaths. The …

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Delaware Court Raising Standards for Class Actions Against Mergers

A Delaware judge signaled on Thursday that the rules are changing for shareholder class actions challenging corporate mergers, which are widely criticized for reaping millions dollars in lawyers’ fees while rarely generating a penny for investors. The ruling approved a …

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Pacific Islanders Plead for Action on Climate Change as Sea Levels Rise

The village where Anote Tong attended school some 40 years ago is no longer there. As the Pacific Ocean encroached on the settlement, the villagers left for higher ground. “There is a church building and a meeting house, but nobody …

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Aon Benfield Lists 7 Emerging Business Risk Opportunities for Re/Insurers

Aon Benfield has identified seven emerging risks that present re/insurers with business opportunities over the next five to 10 years, which the announcement listed as “US mortgage credit, the sharing economy, reputation and brand, micro insurance, corporate liability covers, terrorism …

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West Virginia Funeral Home Sued for Filing False Death Claims to Insurers

The operators of a Putnam County, West Virginia funeral home are being accused of filing false death claims to insurance companies on behalf of pre-need contract customers who were still alive. Attorney General Patrick Morrisey filed a complaint Friday alleging …

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Florida Police Arrest 37 Teens After Vehicle Burglary Spree

Polices in Pensacola Florida recently arrested 37 teenagers for vehicle burglaries. Assistant police chief Tommi Lyter told the Pensacola News-Journal there were no overarching affiliations among the teens even though there were similarities in their methods. Lyter said groups of …

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Saudi’s United Cooperative Assurance Gets Claim from Mecca Crane Collapse

Saudi Arabia’s United Cooperative Assurance said on Sunday it had received a claim from Saudi Binladin Group over the collapse of one of the construction firm’s cranes this month at the Grand Mosque in Mecca that killed more than 100 …

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Zurich Abandons $8.7B Takeover of RSA After Forecasting Losses in P/C Business

Zurich Insurance Group AG abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC on Monday after forecasting a $200 million loss in its general insurance business due to explosions at the Chinese port of Tianjin. Instead of …

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Arthur J. Gallagher & Co. Acquires North Alabama Insurance

Arthur J. Gallagher & Co. has acquired North Alabama Insurance, Inc. in Florence, Ala. Terms of the transaction were not disclosed. Established in 1982, North Alabama Insurance, Inc. (NAI) is a managing general agent and wholesale insurance broker which provides …

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Court Gives WTC Developer Chance to Recoup More Money for Rebuilding

A federal appeals court has given the developer Larry Silverstein a new chance to recoup more money for rebuilding the World Trade Center site in New York, on top of the $4.1 billion of insurance proceeds he has received. The …

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IA&B in Pennsylvania Announces Officers for 2015-16 Administrative Year

The fall marks a new administrative year for the Insurance Agents & Brokers Service Group (IA&B) in Mechanicsburg, Pennsylvania, and its partnership of agents’ associations. The following directors have been elevated to leadership positions. Insurance Agents & Brokers Service Group …

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Florida Judge Orders State to Clarify Uber Insurance Requirements

Florida taxi companies may finally get the answer they are looking for from the Florida Department of Highway Safety and Motor Vehicles (FDHSMV) regarding minimum insurance requirements for transportation network companies (TNCs) operating in the state. In a Sept. 17 …

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Risk Cooperative Launches Benefits Practice in D.C.

Risk Cooperative, a Washington, D.C.-based insurance brokerage and risk management firm, recently announced the launch of its Comprehensive Benefits practice. Risk Cooperative said the new practice aims to help small to mid-sized enterprises (SMEs) gain their footing in an increasingly …

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New York to Receive Up to $20M to Develop Connected Vehicle Technologies

New York City will be the main testing ground for a smart device installed in vehicles to warn motorists of impending dangers and congestion, the U.S. secretary of transportation announced on Sept. 14. Secretary Anthony Foxx said New York will …

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Pennsylvania Commissioner Issues Consumer Alert on ‘Widow’s Penalty’

Pennsylvania Insurance Commissioner Teresa Miller issued a consumer alert announcing that she will not approve auto insurance rate filings that contain the so-called “widow’s penalty,” under which a widow or widower is charged a higher rate solely based on the …

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Uber vs. Taxi Clash Heats Up at Massachusetts Statehouse

The tension between traditional taxis drivers and those who drive for services like Uber and Lyft was on display Tuesday as Massachusetts lawmakers grappled with proposals to regulate the popular but largely unfettered ride-hailing services. The Financial Services Committee is …

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Florida Issues Citizens’ 2016 Commercial Lines Rate Order

The Florida Office of Insurance Regulation has issued an Order establishing the 2016 commercial lines rates for Citizens Property Insurance Corporation (Citizens). The overall estimated statewide average rate changes are shown in the chart below. The effective date for both new …

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Taiwan’s Cathay Financial Completes Acquisition of Conning

Cathay Financial Holding Co. Ltd., based in Taiwan, said it has completed the previously-announced acquisition of Conning Holdings Corp. through its subsidiary, Cathay Life Insurance Co, Ltd. Conning, based in Hartford, Conn., is an investment manager focused on the insurance …

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El Niño’s Dark Side Could Bring More Trouble to California

A group of drought experts gathered in California this week, and it wasn’t long before the conversation turned to El Niño. They weren’t touting it as the savior that will end the state’s four-year drought. Instead, they were looking at …

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Alliant in California Names Harney Senior Vice President

Alliant Insurance Services has named Christopher David Harney a senior vice president in its real estate group.  He will be based in Alliant’s Newport Beach, Calif. headquarters office. Harney will provide risk management and insurance solutions to a client roster …

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Marsh’s Torrent Technologies Launches New Excess Flood Policy

Torrent Technologies, Inc., a Marsh company, in coordination with Torrent’s Write-Your-Own (WYO) carriers participating in the National Flood Insurance Program (NFIP), has the availability of a new excess flood insurance option that combines coverage with real-time quoting and binding functionality. …

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Early Data on Workplace Fatalities in California Show Decline

The Department of Industrial Relations has posted preliminary workplace fatality statistics for California in 2014 that show a decline. The Census of Fatal Occupational Injuries data reflect a total of 334 fatal work injuries statewide in 2014, a decrease of …

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Former California Insurance Agent Who Scammed Church Members Sentenced

Constance Gail Fortune, 61, pleaded guilty this week to one felony count of grand theft by embezzlement and one felony count of theft from an elder or dependent adult in a case in which she was charged with scamming members …

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Texas Court Rules for Former Energy Executive in D&O Dispute

The Texas 14th Court of Appeals this week ruled in favor of former energy executive in a legal fight over whether the company’s director and officer insurer should have paid to defend or indemnify the executive as part of a …

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AIR Worldwide: Gap Between Insured & Economic Losses Offers Business Opportunities

A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm found: the global insured average annual loss comes in at $74 billion. …

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Intellectual Property News: KitKat, Williams Sonoma, Whole Foods, Skechers, Segway, GoDaddy, Apple

This wrap-up of recent intellectual property cases covers chocolate bar shapes, cookware designs, sneakers, Korean TV, Quizno’s commercials, Oscar award domains, wines from Whole Foods, fair use of music tracks, the Apple-Samsung battle and more. KitKat Defends Shape of Chocolate …

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Allianz Teams with Volkswagen, Bayer and BASF in Anti-Hacking Venture

The German car giant that gave the world the Beetle may soon help you fend off cyber criminals. Volkswagen AG teamed with insurer Allianz SE, medical company Bayer AG and chemicals producer BASF SE to sell information-technology security services to firms in …

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Brown & Brown Revamps Retail Agency Division

Brown & Brown Inc. has realigned its of retail agency division into a more decentralized operating model with an eye toward increasing organic growth. Brown & Brown’s retail agency division will continue to operate as one division but, effective immediately, …

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U.S. Weighing Sanctions Against China for Hacking

A little more than a week before China’s leader arrives at the White House, President Barack Obama escalated the fight over cyberspace, saying the U.S. is readying measures to forcefully demonstrate that economic espionage won’t be tolerated. It was the …

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China’s Fosun in Advanced Talks to Buy RSA’s Middle East Unit: Sources

Fosun International Ltd., the conglomerate founded by Chinese billionaire Guo Guangchang, is in advanced discussions to acquire RSA Insurance Group Plc’s Middle East business, people familiar with the matter said. The sale could fetch less than $200 million, the people said, asking not …

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Violating Swedish Nuclear Drone Ban Will Land You in Jail, Void Insurance Cover

If you’re planning a drone fly-by at any of Sweden’s reactors, think again. The Nordic region’s biggest producer of atomic energy will from Oct. 15 add nuclear plants to a list of sites including airports and hospitals with no-fly zones in …

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Lawmakers Want Anti-Hacking Details from Carmakers

Two U.S. senators have asked the world’s biggest automakers for information on steps they have taken to protect cars from being hacked, as attention on vehicle security has surged following the first car recall over a cyber bug. Democratic Senators …

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Beazley Appoints Froese as Head of Aviation, Effective May 2016

Specialist insurer Beazley, headquartered in London, announced the appointment of Dirk Froese as head of aviation from May 2016 to coincide with the planned retirement of the current leader, David Oates. Froese joined Beazley in 2012 as head of general …

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The Main Street America Group Appoints Randle as Southeast President

The Main Street America Group announced Dave Randle has been appointed president of its Southeast Region, which includes six states: Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Randle is based at the super-regional property/casualty insurance company’s corporate headquarters …

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South Florida Hospital Settles Physician Claims With U.S. for $69.5M

The Justice Department has reached a $69.5 million settlement with a South Florida hospital district accused in a lawsuit of improper financial relationships with doctors who referred patients to the district. Federal officials said the case involved inflated salaries to …

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35 South Carolina Counties Designated as Drought Disaster Areas

Three-quarters of South Carolina’s counties have been designated primary natural disaster areas because of persistent drought. The U.S. Department of Agriculture this month says 35 of the state’s 46 counties have the designation because of damages and losses caused by …

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Bermuda’s OIL Group of Companies Names Olsson as President and CEO

Bermuda-based OIL Group of Companies named Bertil Olsson as president and chief executive Officer, succeeding Robert Stauffer who is retiring in January 2016. With more than 25 years of energy insurance experience, Olsson joins the OIL Group from Marsh & McLennan …

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China Re Wins Hong Kong Stock Exchange Approval for $2 Billion IPO

China Reinsurance Group Corp., the nation’s biggest reinsurer, received Hong Kong stock exchange approval for an initial public offering, people with knowledge of the matter said. The Beijing-based company plans to seek about $2 billion in the share sale, said the …

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Cyber Attacks Bring New Clients – Including Insurers – to Defense Firms

A broadening wave of cyber attacks is drumming up new clients for defense companies as anxiety about the loss of sensitive data spreads from military chiefs to company bosses. Banks, utilities and media groups are the new customers of defense …

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Lawsuit Filed Against County, Deputies in Fatal Shooting of Texas Man

Relatives have filed a wrongful death lawsuit in the fatal shooting of a South Texas man by two deputies while both of his hands were raised. The incident was recorded on at least two videos. Gilbert Flores’ family filed the …

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Duel Magnitude 4.0 Earthquakes in Northern Oklahoma

The U.S. Geological Survey has recorded several earthquakes in northern Oklahoma,  including two of magnitude 4.0. No damage or injuries are reported from the Tuesday and Wednesday temblors. The USGS reports a 4.0 magnitude earthquake one mile northwest of Cushing …

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Martinez Joins Columbia Insurance Group in Nebraska

Columbia Insurance Group (Columbia) welcomes Shane Martinez to its executive team as the new vice president and Omaha, Neb., branch manager. Martinez is a seasoned insurance professional with more than 20 years of personal, commercial and farm underwriting experience. Columbia …

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Oil Company Fined $223K for Fracking-Well Fire in Ohio

A fire at a natural gas fracking well that forced evacuations and killed thousands of fish in eastern Ohio last summer will result in fines of about $223,000 against an international oil and gas company. Environmental regulators announced the fines …

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Uninsured Rate in Nebraska Dropped Below 10% in 2014

A new federal report says the proportion of Nebraska residents without health insurance dropped below 10 percent last year. The census report says 9.7 percent of residents were uninsured in 2014, down from 11.3 percent the previous year. David Drozd …

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‘Ridesharing’ a Climate Change Solution around the Corner

The solution to reducing carbon emissions may be just around the corner. Car sharing can reduce gas consumption and could ultimately help in the battle to curb climate change, according to a Natural Resources Defense Council director, who maintains that …

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GM Settles Shareholder Suit But Ignition Switch Exposure Not Over

General Motors Co.’s potential liability over flawed ignition switches isn’t over yet, and billions of dollars remain at stake. GM agreed Thursday to pay $575 million to end a shareholder suit tied to the defect and more than 1,380 civil cases …

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Religious Groups Win Appeal Over Contraception Mandate Opt-Out

Religious groups needn’t comply with the Affordable Care Act mandate to provide workers with health insurance that covers contraception and can’t be forced to tell the government when they don’t, a federal appeals court said. Ruling Thursday in two cases, …

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15 Nabbed in $150M Insurance Scam That Included Unnecessary Surgery

Unnecessary surgeries performed by untrained assistants are among the allegations in an indictment detailing a $150 million insurance scheme, among California’s biggest ever. Orthopedic surgeon and alleged ringleader Dr. Munir Uwaydah and 14 associates, including another doctor and a lawyer …

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Montana’s Wildfire Season Second-biggest So Far This decade

Montana’s fire season began quietly but has quickly grown to the second-largest so far this decade after lightning storms last month ignited a rash of blazes that spread rapidly amid bone-dry conditions. This season is not over yet, with at …

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Former Microsoft Executive Hartnett Named ACORD Innovation Chief

The insurance industry’s standards organization, ACORD, announced that Bill Hartnett, former financial services and insurance head at Microsoft, has been named its head of innovation, charged with bringing new ways of thinking and doing business to the organization and the …

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Former Insurance Agent Arrested in Alleged $21M Movie Investment Scheme

A former insurance agent one of two people who have been charged with operating a Ponzi scheme allegedly bilking investors from Los Angeles and Kern Counties out of $21 million dollars. Michelle Kenen Seward, 42, of Flintridge, surrendered to authorities …

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Insurance Sector Struggles to Innovate: KPMG International Survey

While insurance executives overwhelmingly know that innovation will drive future competitive advantage and growth, most seem to be struggling to kindle the spark within their organization, finds a KPMG International report released today. Based on a survey of 280 insurance …

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GM to Pay $900M to Settle Criminal Probe Into Faulty Ignitions

General Motors Co. agreed to pay $900 million and admit to misleading the government and the public about the safety of its vehicles to end a U.S. criminal investigation into its handling of defective ignition switches linked to 124 deaths. …

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JLT Employee Benefits to Buy Corporate Unit of Close Brothers Asset Mgmt

JLT Employee Benefits has agreed to acquire the corporate business of Close Brothers Asset Management Limited for an undisclosed value. JLT EB said the deal will boost its client portfolio and strengthen its market share in pension administration, investment consulting …

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Gen Y Insurance Customers Are Not Happy Bundlers

The insurance industry has some work to do to win over Gen Y customers, those ages 21 through 38. Members of the Gen Y generation, who were born between 1977 and 1994, are less satisfied with their homeowners insurers than …

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A.M. Best Withdraws Ratings of Chicago-Based American Access Casualty

A.M. Best has downgraded the issuer credit rating (ICR) to “bb” from “bb+” and affirmed the financial strength rating (FSR) of B (Fair) of American Access Casualty Company (AACC), based in Chicago, ILl. The outlook for the FSR has been revised to negative …

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GEICO Introduces Ridesharing Policy in Ohio

GEICO is offering its ridesharing insurance product, which delivers end-to-end coverage for personal and ridesharing use, to drivers in Ohio. New and existing drivers that have been approved to drive for Uber (UberX and UberXL), Lyft, Sidecar and other services in …

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CVS Settles Fraud Claims by Investors for $48M

CVS Health Corp. reached a $48 million settlement of a lawsuit accusing the U.S. drugstore operator of fraudulently concealing a big loss of revenue in its pharmacy benefits manager business, culminating in a plunge in its stock price. The all-cash …

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U.S. Taxes Push Insurance Start-Ups Offshore: Fishman

Jay Fishman, who built New York-based Travelers Cos. into one of the world’s biggest insurers, lamented that disparities in tax rates are pushing established rivals and industry newcomers outside the U.S. Over the past 15 years or so, “we’ve counted …

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Irish Insurers Face Higher Reserves; Fairfax Financial to Invest in FBD Holdings

Irish insurers will have to set aside significantly more reserves to cover car-crash, workplace injuries and other claims as compensation payouts surge, according to the industry’s regulator. The nation’s central bank will tell insurers the results of a review of …

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