South Carolina-Based Marine Insurance Agencies Merge to Form New Company

Maritime Insurance, LLC and Port City Holdings, LLC dba KSA Marine Insurance, both of Charleston, S.C., have joined to create a new entity, Maritime Insurance International. The new company combines the agencies’ experience in the marine insurance industry while expanding …

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Partners Insurance Hires McDonald as Broker in Massachusetts

Partners Insurance Group LLC has hired Bernard J. McDonald V as a licensed broker and producer. McDonald is responsible for developing new business and creating customer relationships. He provides and services insurance products for personal and business clients. Based in …

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Marsh Enhances D&O Difference in Conditions Coverage

Marsh has enhanced its Side A directors & officers (D&O) difference in conditions (DIC) cover Marsh Alpha in response to the new and emerging legal and regulatory risks facing directors and officers. The enhanced coverage now includes broad investigation cover, …

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Judge Tosses Concussions Lawsuit Against Illinois Prep Group

An Illinois judge has dismissed the nation’s first class-action concussions lawsuit against a prep sports governing body, saying the Illinois High School Association has taken steps to make football safer and that imposing costly requirements could force some schools to …

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Selective Insurance Group Reports $47M Q3 Net Income

Selective Insurance Group in Branchville, New Jersey, reported $47.0 million net income for its 2015 third quarter, down 12 percent from $53.2 million net income reported a year earlier. The third-quarter operating income, which excludes realized gains and losses on …

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Superstorm Sandy: Ohio’s 6th Costliest Natural Disaster

Superstorm Sandy in late October 2013 was Ohio’s sixth costliest natural disaster in recent history from an insured loss standpoint, an insurance trade group says. Moving inland after devastating parts of the East Coast, Sandy finally dissipated on Oct. 31, …

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Rate of Workplace Injury, Illness Dropped in Texas in 2014

The Texas incidence rate of nonfatal injuries and illnesses in private industry decreased to 2.4 cases per 100 equivalent full-time workers in 2014, down from 2.6 in 2013, the Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced. The …

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Wildfires Threat in Texas Increased Over Past 15 Years

Larger, more threatening wildfires are occurring at greater rates as Texas faces lingering drought, consistent development — driven by millions of new residents and the spread of outlying suburbs — and changes in how the state’s land is used. Texas …

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State Auto’s Restrepo Honored with Lifetime Achievement Award

The Griffith Insurance Education Foundation announced that Robert P. Restrepo Jr., chairman of Columbus, Ohio-based State Auto Insurance Cos., received its 2015 Lifetime Achievement Award during a ceremony at the Property Casualty Insurers Association of America’s (PCI’s) annual meeting. Candidates …

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3 Years After Sandy, Thousands of Storm Survivors Still Can’t Go Home

Three years ago, Superstorm Sandy slammed the New Jersey shore, destroying homes, splintering boardwalks, wrecking businesses and displacing thousands of people. Three years later, several thousand still cannot get back home due to bureaucratic red tape with government aid programs, …

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SBA Offers Low-interest Wildfire Disaster Loans to Washington Businesses

The U.S. Small Business Administration is offering low-interest disaster loans to Washington businesses, nonprofits and residents affected by the wildfires. The federal agency has declared its own disaster declaration to make the loans available in Chelan, Douglas, Ferry, Grant, King, …

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Deputy Sues Oregon Restaurant After Being Asked to Prepay

An Oregon sheriff’s deputy has filed a lawsuit against the Elmer’s restaurant chain, claiming he was told to prepay for his meal at a Vancouver, Ore. establishment because he is black. KGW-TV reported Brian Eason, in a suit filed earlier …

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New Mexico Jury Holds Utility Companies Partially Liable for Fire

A jury decided this week that two utility companies hold most of the liability in one of the largest wildfires in New Mexico’s recorded history. Jurors gave their verdict in Bernalillo following a weekslong trial that centered on whether Jemez …

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Homeowner Files Lawsuit Against Four Seasons Resort in Hawaii

A homeowner at the Four Seasons Resort Hualalai is suing the resort and its developers, alleging he and others have been subjected to an unfair raise in prices and overcrowded facilities. The suit filed by Christopher Zyda seeks class-action status …

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World Insurance Appoints Heads of Personal, Commercial Lines in N.J.

World Insurance Associates LLC, an independent agency based in Tinton Falls, New Jersey, has hired Cathy Saporito as senior vice president, head of Personal Lines. Saporito joins World Insurance Associates from AIG, where she was senior business development manager for …

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Ace Private Risk’s Courtemanche Joins Boston’s Risk Strategies Co.

Industry veteran Bob Courtemanche, until recently chairman of Ace Private Risk Services, has joined Risk Strategies Co., the Boston-based insurance and risk management advisor said. Courtemanche has been named senior managing director and practice leader nationally for its Risk Strategies’ Private …

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Crime Jumps When Clocks Turned Back: Study

This weekend, most Americans are gaining an hour of sleep by turning back their clocks as daylight saving time ends. But a Cornell University study finds that they could lose much more in the time exchange. Examining crime rates from …

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Willis Reports Q3 Net Income of $117M, Compared to $7M Net Loss in Q3 2014

Willis Group reported net income of $117 million, or $0.64 per diluted share, during the third quarter ending Sept. 30, compared to a net loss of $7 million, or $(0.04) per diluted share, in the prior year quarter. For the …

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AIG Has Been Mulling Sale of Mortgage Insurance Unit: WSJ

American International Group Inc. directors have been discussing the sale of the company’s mortgage insurance business “for a while” but “no final decision has been made about the unit,” the Wall Street Journal is reporting, citing sources familiar with the …

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Validus Reports $22 Million Hike in 3rd Quarter Net Income to $66.7 Million

Validus Holdings Ltd. reported net income of $66.7 million, or $0.78 per diluted common share, for the third quarter ended Sept. 30, 2015, compared to $39.7 million, or $0.41 per diluted common share, for the same period last year. For …

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Aon’s Q3 2015 Net Income down 5%; 15% for 1st 9 Months

Aon plc’s third quarter and 1st 9 months 2015 Earnings report shows an overall decline in revenue and profits, compared to the same periods in 2014. Net income attributable to Aon shareholders was $295 million, or $1.04 per share, compared …

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Lloyd’s China, Tokio Marine Kiln & PICC Sign Intellectual Property Liability Deal

Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property infringement liability insurance in China. Signed on Oct. 29 at PICC’s head office in …

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XL Catlin Appoints Murias Senior Aviation Underwriter for Brazil

XL Catlin announced that it has strengthened its Aviation insurance capabilities in Brazil with the appointment of senior underwriter, Daniela Murias, based in Sao Paulo. She has over 15 years’ experience in the aviation industry and extensive knowledge of the …

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Aviva CEO: Jump in New Business Will Allay Fears About Friends Life Acquisition

Aviva Plc Chief Executive Officer Mark Wilson said a 25 percent jump in new business in the first nine months of the year should allay concerns that his 5.6 billion- pound ($8.6 billion) acquisition of Friends Life Group Ltd. was a …

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New British Insurance Premium Tax Hike Could Further Squeeze Insurer Margins

A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …

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West Virginia Train Derailment Lawsuit Moved to Federal Court

A lawsuit filed stemming from a fiery February derailment of a CSX oil train in Mount Carbon has been moved to federal court. The Register-Herald reports that the lawsuit by more than 200 residents was moved to U.S. District Court …

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Florida Man Injured by Exploding E-Cigarette

Fire officials say a southwest Florida man was injured when an e-cigarette he was smoking exploded in his face. North Collier Deputy Fire Chief Eloy Ricardo says the man suffered burns to his face and also inhaled a piece of …

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South Carolina Homeowners Face Expensive Repairs to Unsafe Dams

People who live around dozens of lakes in South Carolina are under emergency orders to repair or replace dams that ruptured or were deemed unsafe by inspectors after the historic rains this month, and they face staggering bills ranging from …

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ANBTX Insurance Services Adds Baker in Dallas

Mike Baker has joined ANBTX Insurance Services as vice president in the commercial property and casualty insurance division. Baker, formerly with CIB (Commercial Insurance Brokers Inc.) in El Paso, Texas, comes to ANBTX with over 12 years of experience in …

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Economic Risks of Climate Change, Climate Fiction and Climate Control

With fresh news out on the global economic cost of climate change, an enticing climate fiction contest and a sweet victory for this column, it would take till Christmas to individually cover it all in this bi-weekly column. So I’ll …

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Allstate Names Green as President of Encompass Insurance

The Allstate Corp. has announced that Mark Green named president of the Encompass insurance companies, which sells through independent agents. Green has 25 years of experience in the insurance industry. Last year he was named president of Allstate Dealer Services …

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Call for Splitting AIG a Challenge to CEO Hancock

Peter Hancock may have met his hardest challenge yet. Since Hancock took over as chief executive officer of American International Group Inc. last year, Warren Buffett’s Berkshire Hathaway Inc.’s new commercial insurer raided AIG for talent. The integration of two …

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Smith Brothers Acquires Bayberry Insurance in Connecticut

Smith Brothers Insurance, an independent agency based in Glastonbury, Connecticut, announced that it has acquired the assets of Bayberry Insurance in Groton, Connecticut. Terms of the transaction were not disclosed. Founded in 1989, Bayberry Insurance is an independent agency providing …

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Arch Capital Reports Q3 Net Income of $74.5M, vs. $223.2M in Q3 2014

Bermuda-headquartered Arch Capital Group Ltd. reported net income available to common shareholders for the third quarter ending 2015 was $74.5 million, or $0.60 per share, compared to $223.2 million, or $1.64 per share, for the same period last year. For …

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Surplus Lines Stamping Office of Texas Phone Numbers Changing

The Surplus Lines Stamping Office of Texas (SLSOT) announced it is simplifying communications with new business phone number listings and an upgraded telecommunication system. The new system will be in place Oct. 30, but to prevent any loss of contact, …

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Cost of Oklahoma Health Plans Skyrocketing

Thousands of Oklahoma residents who are expected to participate in the open enrollment period under the federal Affordable Care Act that begins this weekend can expect some dramatic increases in the cost of health insurance. A U.S. Department of Health …

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New Jersey Sandy Protesters Blast Gov. Christie

Some victims of Superstorm Sandy in New Jersey said they feel New Jersey Gov. Chris Christie has forgotten about them in his pursuit of the presidency. About a dozen protesters intended to pitch tents and camp out across from the …

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Florida Regulators ‘Encouraged‘ by Insurers’ Stress Test Results

Florida property insurers are well-capitalized and able to handle a 1-in-100 year storm event if and when it occurs in the state, according to the Florida Office of Insurance’s 2015 Data Call and subsequent stress test report. The annual Reinsurance …

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A.M. Best: Outlook Stable for Midwest Builders’ Casualty Mutual, Subs

A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” for Midwest Builders’ Casualty Mutual Insurance Co. (MWBC) and its subsidiaries, Horizon Midwest Casualty Co. (Horizon) and Bearing …

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Shortchanged Sandy Victims Get More Flood Insurance Cash After Claims Review

Many people who complained a federal insurance program shortchanged them after Superstorm Sandy swamped their homes are getting some validation three years later in the form of cash. A Federal Emergency Management Agency review launched in the spring has been …

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Nebraska Man Gets Jail Time in Auto Insurance Fraud Case

A North Platte, Neb., man accused of driving his car into a canal so he could collect on his insurance has been sent to prison. Court records say 32-year-old Josh Salisbury was sentenced to 18 to 36 months for insurance …

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Hanover Q3 Profit Increases 42% to $78M

The Hanover Insurance Group Inc. reported $78.3 million net income for its 2015 third quarter, a 42.6 percent increase from $54.9 million net income reported a year earlier. The Worcester, Massachusetts-based insurer said the latest quarterly results were helped by …

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Texas’ Population Spread, Wildfires Bring New Era of Firefighting

A top state fire official says the changing landscape of Texas, driven by millions of new residents and the spread of exurbia, has coincided with an unprecedented wave of large wildfires that are occurring more regularly. Texas A&M Forest Service …

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Arnold Joins Underwriting Team at Ashley General Agency

Conroe, Texas-based independent insurance wholesaler, Ashley General Agency, has added Adam Arnold to its underwriting team. Arnold has extensive experience in the insurance industry that includes a background with a well-respected managing general agency and a national insurance carrier specializing in …

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Insurance Agents & Brokers in Penn. Announces Newly Elected Directors

The fall marks a new administrative year for Insurance Agents & Brokers Service Group in Mechanicsburg, Pennsylvania, and its partnership of agents’ associations in Delaware, Maryland and Pennsylvania. The organization held elections for directors at its annual meeting on Oct. …

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National Tire and Battery to Pay $22.5K to Settle Employee Harassment Suit

National Tire and Battery (NTB) will pay $22,500 to a former employee to resolve a national origin and religious harassment lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. According to EEOC’s suit, an Arab and …

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North Dakota Lawmakers Criticize Proposed $3B Crop Insurance Cut

North Dakota’s congressional delegation and others from the state say a proposed $3 billion cut to crop insurance is unacceptable. A two-year budget deal in Congress would reduce federal subsidies to companies that sell crop insurance to farmers, saving $3 …

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Judge Orders Wyoming Restaurant to Pay $11.4M in Salmonella Case

A judge has ordered a Cheyenne, Wyo. restaurant to pay a Nebraska couple nearly $11.4 million after the husband contracted salmonella poisoning. The Casper Star-Tribune reported Christopher Gage and his wife, Heather, sued the Old Country Buffet and its operator …

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188 People Sickened by Infection Tied to California Restaurant

Public health officials in California say at least 188 people in six counties have contracted a bacterial infection after eating at a San Francisco Bay Area restaurant. The Santa Clara County Public Health Department issued a warning to people who …

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Lovitt & Touché in Arizona Names Osborn Vice President

Arizona-based Lovitt & Touché has named Magdalena Osborn vice president and general counsel. Osborn will oversee the firm’s strategic and tactical legal activities, and assist with operational strategies and initiatives. Osborn was formerly with Rusing, Lopez & Lizardi. Lovitt & …

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Commercial Insurance Rates, Except Auto and Flood, Still Falling: CIAB

Commercial property/casualty insurance prices continued to decline moderately — an average of 3.1 percent— during the third quarter, according to a survey by The Council of Insurance Agents & Brokers. The CIAB survey showed a continued decline in commercial P/C …

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Budget Deal Called ‘Devastating’ to Crop Insurance

The two-year budget deal produces savings from one of the most popular programs in farm country — federally subsidized crop insurance — and farm state lawmakers are furious. Senators and House members said Tuesday they weren’t notified of the cut …

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Atlantic Hurricane Season Enters Final Stretch with No-Hit Record Intact

It has been 10 years since a major hurricane hit the U.S., and as the Atlantic season staggers into its last month, every day that passes seems certain to extend that record streak. Wilma was the last major system, striking …

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Arthur J. Gallagher Creates Technical Advisory Board; Appoints Jack as Head

Arthur J. Gallagher — the international division of Arthur J. Gallagher & Co. – has appointed David Jack to lead its newly created Technical Advisory Board. The board will oversee a review of the business’ existing systems to identify ways …

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Swiss Re’s 1st 9 Months 2015 Consolidated Net Income up 12% at $3.659 Billion

Swiss Re reported consolidated net income of $3.659 billion, a 12 percent increase, for the first nine months of 2015, compared to $3.255 billion for the first 9 months of 2014. $1.399 billion was earned in the third quarter. Swiss …

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Talbot Australia Appoints Crisis Management Underwriting Team

Talbot Underwriting Australia, the Sydney-based branch of Talbot Risk Services Pte Ltd., has established a crisis management practice with the appointment of two leading underwriters to drive growth in specialty lines in the Australasian region. Steve Ward and Hamish McKay …

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Hiscox Appoints Waddell to Lead General Liability Team with Focus on U.S. Risks

Hiscox London Market has appointed Nick Waddell as general liability line underwriter; establishing Hiscox’s first ever stand-alone general liability team as the business seeks to take advantage of a London market resurgence in U.S. general liability risks. Reporting to Neil …

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Swiss Re Estimates Tianjin Port Explosion Losses Will Hit $250 Million

Swiss Re AG, the world’s second-largest reinsurer, posted a 13 percent increase in third-quarter profit after allowing for $250 million in losses from the chemical warehouse explosions in the Chinese city of Tianjin in mid- August. Net income climbed $1.4 …

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High-Tech Weather Forecasters Still Rely on Old-Fashioned Balloons

When the latest computer forecast models couldn’t figure out where major Hurricane Joaquin was headed earlier this month, the National Weather Service ordered extra launches of one of its oldest tools — the weather balloon. Twice a day, in what …

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Judge Rules Lawyer’s Traffic School in Louisville Unconstitutional

A judge in Louisville has ruled that a local traffic school program run by the Jefferson County Attorney’s office is unconstitutional. Judge Sean Delahanty ruled the state law allowing such programs “is a poorly written statute that was rushed into …

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New Study Aims to Help Georgia Motorists Avoid Deer Collisions

University of Georgia researchers have a new study out that could tell motorists the most likely times for collisions with deer in different parts of the state. The research assessed available deer breeding information with reported accidents to calculate peak …

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Berkshire Hathaway GUARD Appoints Henderson as Florida Field Executive

Berkshire Hathaway GUARD Insurance Companies added Chris Henderson as a senior field representative to promote targeted growth in Florida. The growth in the state includes the addition of the company’s multiline commercial insurance product – BizGUARD Plus – that encompasses …

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Concklin Named Field Rep for Berkshire Hathaway GUARD in Colorado, Utah

Berkshire Hathaway GUARD Insurance Cos. recently added Mark Concklin as a senior field representative to promote targeted growth in Colorado and Utah. Concklin is responsible for identifying prospects for appointments while providing information about available resources and new developments to …

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Activist Paulson Joins Icahn’s Call to Break Up AIG

Activist investor Carl Icahn said he owns a “large stake” in American International Group Inc. and urged the insurer to spin off its life and mortgage units into public companies to avoid being tagged as a systemically important financial institution. …

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Top Insurance Lobbyists on Capitol Hill

The Hill, a popular Capitol Hill insider publication with political news and opinions, has placed five insurance groups and their lobbyists on its 2015 list of the top lobbyists in Washington for associations. The insurance trade groups making The Hill’s …

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Premiums on New Jersey Health Exchange Rising 5%

The premium for a mid-level plan offered on the federal government’s health insurance exchange will be up by 5 percent in New Jersey in 2016. But premiums will be lower, as expected, for people choosing a new plan that is …

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New Hampshire Approves Workers’ Comp Loss Cost Decrease of 5.9%

The New Hampshire Insurance Department announced that it has approved the National Council on Compensation Insurance’s advisory loss cost and rating values filling to be effective Jan. 1, 2016. The approved voluntary loss cost change is a decrease of 5.9 …

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EPA: Missouri Landfill Fire Fix to Come by Year’s End

A plan to make sure an underground St. Louis-area landfill fire doesn’t reach a cache of Cold War-era nuclear waste buried nearby will come before the end of 2015, an Environmental Protection Agency administrator said. Mark Hague, acting chief of …

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N.Y. Sen. Gillibrand Calls for More Transparency in NFIP Claims Process

U.S. Sen. Kirsten Gillibrand, D-New York, is announcing legislation to require the Federal Emergency Management Agency to be more accountable to property owners who file claims. Gillibrand says many New Yorkers whose homes were damaged or destroyed during Superstorm Sandy …

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Indiana Judge OKs Facebook Messages in Marina Fire Trial

A judge has declined to prevent private Facebook messages from being considered during a trial of two people charged in an Evansville marina fire. The Evansville Courier & Press reports the judge denied the motion Monday to suppress the messages …

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Illinois Trucking Company Must Pay $240K in Religious Discrimination Suit

A federal jury in Peoria, Ill., has awarded $240,000 to two Somalian-American Muslims who were fired from their jobs as truck drivers at Star Transport, an over-the-road trucking company, when they refused to transport alcohol because it violated their religious …

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Texas Insurance Agent, Another Man Sentenced for Ponzi Scheme

Two North Texas men, one of whom is a licensed insurance agent, have been sentenced to five-year prison terms and must repay nearly $2.4 million solicited in a Ponzi scheme, according to U.S. Attorney John Parker of the Northern District …

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Heritage Taps Hutchinson to Lead Sales & Marketing in Mass., R.I.

Clearwater, Florida-based Heritage Property & Casualty Insurance Company has hired Peter J. Hutchinson as director of sales and marketing for Massachusetts and Rhode Island, a new position. He is based in Westfield, Massachusetts. In this new role, Hutchinson will spearhead …

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Target Markets Study: Program Business Revenue Doubled in 5 Years

The financial performance of commercial property casualty insurance program administrators continues to outpace the performance of the overall property casualty insurance markets, according to the most recent study by the Target Markets Program Administrators Association (TMPAA). Program business premium revenues …

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Lyft Becomes First to Offer Ridesharing at Las Vegas Airport

Lyft is the first ridesharing company to offer trips to travelers at McCarran International Airport in Las Vegas. Lyft said it began offering airport rides Monday morning. The company’s smartphone app connects individuals in need of a ride with drivers …

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West Coast Towns Vulnerable to Tsunamis Consider Ways to Save Lives

Bracing for a tsunami like the one that devastated Japanese communities during a 2011 mega-earthquake, coastal communities from British Columbia to California have been grappling with how to protect people from a similar catastrophe. One of those towns is constructing …

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Earthquake Swarm Around San Francisco Persists

The U.S. Geological Survey reports that in the last two weeks more than 400 small earthquakes have hit a city east of San Francisco. KNTV reported that the city of San Ramon appears to have broken an earthquake record with …

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Argo Group Reports Q3 Net Income of $35.3M vs. $44.7M for Q3 2014

Bermuda-headquartered Argo Group International Holdings Ltd. reported net income of $35.3 million, or $1.24 per diluted share, compared to $44.7 million, or $1.54 per diluted share, for the third quarter of 2014. Net income for the nine month period ended Sept. …

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California DMV Agreement Changes How Motor Vehicle Records Are Handled

California agents and brokers are being notified of a new change to how they can handle motor vehicle records. An agreement between representatives from the insurance industry and the California Department of Motor Vehicles eventually enabled the DMV to revise …

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IBM to Buy Weather Co.’s Business, Web Properties to Expand Watson

IBM said today it has agreed to acquire The Weather Co.’s business-to-business mobile and cloud-based web properties, including WSI, weather.com, Weather Underground and The Weather Co. brand. IBM will not acquire the TV segment – The Weather Channel –but the …

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Investor Icahn to AIG: Break-Up P/C, Life, Mortgage Units Now

Carl Icahn, the billionaire investor known for picking fights with corporate boards, said American International Group Inc. should split into three companies, one selling property/casualty coverage, another selling life insurance and a third backing mortgages. The stock rallied in early …

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Marsh Says It’s ‘On Track’ After Q3 Results

Marsh & McLennan Cos. Inc. reported $3.12 billion in consolidated revenue for the third quarter, a decline of about one percent compared to the same quarter last year, along with an 8.7 percent jump in net income to $323 million. …

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House Votes to Extend Transportation Funding, Railway Safety Deadline

The U.S. House of Representatives on Tuesday approved a bill to keep federal funds flowing to road and bridge construction projects into late November, while also extending a key rail safety deadline to the end of 2018. In a voice …

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Sen. Warren Criticizes Legal ‘Kickbacks’ to Annuity Sales Agents

U.S. Senator Elizabeth Warren wants to restrict brokers from winning vacations, luxury cars and golf outings at the expense of retirees. Warren, a Massachusetts Democrat and prominent Wall Street critic, released a report Tuesday criticizing the largest annuity providers for …

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Validus Group Appoints China Representative

Validus Holdings Ltd. has appointed Ellie Zhou as underwriting manager for Greater China to support the Validus Groups’ existing Chinese customers and expand the firm’s business in the region. China is one of the world’s largest and fastest-growing insurance markets …

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Argentina Regulator Says Insurers’ Dollar Assets Cannot Exceed Liabilities

Argentina’s insurance regulator changed the rules governing the amount of foreign currency holdings the companies can keep, which could prompt the firms to sell assets to meet a year-end deadline. Insurance companies must adjust their foreign-currency security holdings to match …

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Best’s Italian Insurance Sector Report Sees Growth despite Weak Economy

A special report from A.M. Best concludes that “Italy’s insurance market remained buoyant in 2014 and is well-placed to continue to grow in 2015, driven by demand for life products.” Best foresees a “second consecutive year of double-digit expansion in …

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AXIS Q3, 9 Month Earnings Hit by Investments, Loss Events

AXIS Capital Holdings Limited has reported net income available to common shareholders for the third quarter of 2015 of $248 million, or $2.50 per diluted common share, compared with $279 million, or $2.68 per diluted common share, for the third …

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Ace Sells $5.3 Billion of Bonds for Chubb Deal

Ace Ltd. sold $5.3 billion of bonds to finance its acquisition of Chubb Corp. The debt sale, which will help close a deal valued at about $30 billion, was issued in four parts, with the longest portion, a 30-year bond, …

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Ping An Profit Rises 32% as Higher Premiums Offset Stock Market Slump

Ping An Insurance (Group) Co., China’s second-largest insurer, said third-quarter profit rose 32 percent as higher premium income and banking revenue helped offset the impact of a stock market rout on investment returns. Net income climbed to 13.6 billion yuan, …

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Insurers Unprepared for Costs of Climate Change, Warns UN Climate Diplomat

Insurers are unprepared for the costs of climate change, the top United Nations climate diplomat said as world leaders make final preparations for a deal on global warming. The agreement, which the UN expects to seal in Paris in December, …

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What Are Chances a U.S Business Will Face an Employee Lawsuit?

U.S.-based small and medium sized businesses face an almost 12 percent chance that they it will be hit with an employment claim, with their chances much higher in certain states. A new study of employee charge trends by specialty insurer …

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CoreLogic: $18B in Potential Losses from South Carolina’s ‘Record-Breaking’ Storm

The potential exposure home insurers in South Carolina face from the early October storm that flooded the state is estimated to be over $18 billion, according to catastrophe modeling firm CoreLogic. Richland County had the most exposure with 8,185 damaged …

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Florida’s Orchid Underwriters Enters Commercial E&S Business, Hires 2 to Lead

Florida-Based Orchid Underwriters Insurance Agency, LLC, a specialty underwriter of property insurance focusing on coastal properties, has named Robert J. Rose senior vice president of Underwriting and Programs and Bryan Schofield vice president of Commercial Lines. Both are newly created …

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Testing Shows Chemicals in Well Water Near Tennessee Power Plant

Albert Hudson worries about the water coming from the well on his property near the Tennessee Valley Authority’s coal-fired power plant in Gallatin, Tenn. Hudson received a letter recently from the Tennessee Department of Environment and Conservation notifying him that …

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Distinguished LLC Acquires Fulcrum Programs in Washington

Distinguished LLC finalized its acquisition of Bellevue, Wash.-based Fulcrum Insurance Programs. Terms of the deal were not disclosed. Fulcrum will combine with Distinguished’s own real-estate and hospitality program administrator, Bellevue-based National Specialty Underwriters. The combined businesses will be rebranded as …

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CUNA Mutual Group Names Brown Chief Investment Officer

CUNA Mutual Group, headquartered in Madison, Wis., has hired David (Dave) G. Brown as its new chief investment officer. He will replace David Marks, who retires at the end of the year after 10 years at CUNA Mutual Group. Brown most …

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 GDP Advisors Acquires The Insurance Connection of Texas

  McKinney, Texas-based GDP Advisors has acquired The Insurance Connection of Texas (ICT). Located in Frisco, Texas, ICT has been owned and operated by Lori and Chris Gardner and specializes in general/commercial liability, individual auto, home and life insurance. Lori …

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Texas Lawyer Indicted Over Allegedly False BP Spill Claims

Texas lawyer Mikal Watts has been indicted by a federal grand jury in Mississippi for allegedly filing false claims for thousands of Vietnamese fishermen seeking damages from the 2010 Gulf of Mexico oil spill, according to his attorney. The indictment couldn’t …

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EPRMA Enhances Online Training for Employment Practices Risk Management

The Employment Practices Risk Management Association (EPRMA), based in Chicago, has enhanced its website (www.eprma.org), with three new employment practices training courses designed to help employers train senior staff on compliance issues and play a role in controlling the severity …

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Hanover Offers Insurance Tips for New Car Shoppers

As new 2016 car models arrive and auto dealers clear their lots of 2015 models, shoppers planning to buy a new vehicle may want to consider updating their insurance policies to protect their purchases, The Hanover Insurance Group in Worcester, …

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Fire Destroys Businesses in Illinois City; Draws Over 100 Firefighters

A fire destroyed several businesses in the central Illinois city of Farmington, drawing more than 100 firefighters to the scene. Demolition of the destroyed buildings started in the afternoon after the blaze early on Oct. 25. Businesses that were destroyed …

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Montana Bar to Blame for Woman Who Stole Truck And Died in Crash, Railway Says

BNSF Railway is suing a Whitefish, Mont. bar for allegedly over-serving a woman who stole a company truck and was killed when she crashed it into a tree. The Flathead Beacon reported the lawsuit claims Casey’s Bar & Casino is …

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Outlook for Homeowners Insurance Market Improves: Aon

The outlook for the U.S. homeowners market has improved over last year thanks in part to rate increases and lower reinsurance costs, according to reinsurance intermediary Aon Benfield. A new report by Aon Benfield Analytics reveals that insurers’ expected after-tax …

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Southern California Utility Gets $400M Insurance Settlement over Closed Nuke

The operator of the defunct San Onofre nuclear power plant in Southern California announced that it reached a $400 million insurance settlement covering power outages caused by failed equipment, most of which will go to customers. The deal between Southern …

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Number of Deaths from Drunken Driving Nearly Doubled in Utah

The number of people who have died in Utah as a result of drunken driving nearly doubled last year, hitting the highest number in more than a decade. Alcohol-related traffic deaths increased from 23 to 45, according to an annual …

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Ace Group $5.3 Billion Bond to Help Finance $28.3 Billion Acquisition of Chubb

Ace Group on Tuesday announced a $5.3 billion four-part bond to help finance its acquisition of Chubb, Reuters reported this morning. The Chubb deal is expected to be priced later today. Ace filed its preliminary prospectus on the notes on …

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N.J. Neurologist Charged With Illegally Using Runner to Recruit Patients

A New Jersey neurologist has been charged with allegedly paying a “runner” to bring him patients and then falsifying the treatment provided to the patients on claims to the insurance company, New Jersey Acting Attorney General John J. Hoffman and …

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Opioid Overdose Fatalities Appear to Be Increasing in Massachusetts

Opioid-related overdose deaths in Massachusetts appear to have continued increasing above totals that were high enough last year for officials to deem it a public health crisis, according to preliminary statistics released on Oct. 21. The Department of Public Health’s …

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The Hartford Earnings Fall in Q3

The Hartford reported core earnings of $364 million for the three months ended Sept. 30, a 24 percent or $113 million decrease from core earnings of $477 million in third quarter 2014. The insurer said the decrease was principally due …

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Albanese to Exit as New York’s Financial Regulator Before End of Year

The acting head of New York’s Department of Financial Services will step down before the end of the year, giving New York Governor Andrew Cuomo a run at reshaping a regulator that has levied billions of dollars of penalties against …

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Everest Re Reports Q3 Net Income of $88.6M, Compared to $274.9M in Q3 2014

Everest Re Group Ltd. reported third quarter 2015 after-tax operating income available to common shareholders of $200.2 million, or $4.53 per diluted common share, compared to after-tax operating income of $280.5 million, or $6.12 per diluted common share, for the third quarter …

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House Advances Export Import Bank Bill

The dormant U.S. Export-Import bank moved a step closer to revival on Monday as Republicans and Democrats approved a rarely successful maneuver to force a vote to renew the trade lender’s charter. The move effectively bypasses House Financial Services Committee …

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AIG Seeks $2 Billion in Case Against Life Settlements Firm

An American International Group Inc. unit told a U.S. judge on Monday that a Philadelphia-area firm should be forced to pay more than $2 billion for overcharging it for life insurance policies acquired from elderly people. A lawyer for AIG’s …

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XL’s Q3 Operating Net Income Down to $70.8M on Integration Costs, Cat Losses

XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results include approximately $55.2 million in integration costs – …

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Berkshire Hathaway Expands in Australia/NZ with Marine, Transport, Logistics

Berkshire Hathaway Specialty Insurance Company (BHSI) has begun underwriting Marine, Transport & Logistics Liability Insurance in Australia and New Zealand. It has also appointed Barton Phillips, Head of Transport and Logistics, and Laetitia Roney, as Manager of Transport & Logistics …

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Celebrities’ Mexican Holiday Homes Pummeled by Hurricane Patricia

Mexico may have dodged a bullet from the fury of Hurricane Patricia, but jet setters like Bill Gates, Gwyneth Paltrow and Cindy Crawford will have to find a new playground for now after the storm ravaged some of the world’s …

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PartnerRe’s Q3 Earnings Impacted by EXOR Acquisition, ‘Difficult’ Market

As EXOR’s acquisition of Bermuda-based PartnerRe proceeds, it will be taking over a somewhat diminished company, as PartnerRe reported a net loss of $243.3 million, or $5.08 per share for the third quarter of 2015. This includes, however, the “amalgamation termination …

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No ‘Significant Losses’ Expected from M7.5 Hindu Kush Quake: AIR Analysis

According to catastrophe modeling firm AIR Worldwide the epicenter the magnitude 7.5 earthquake that struck northeastern Afghanistan yesterday was located in the Hindu Kush mountain range, 45 km (28 miles) north of `Alaqahdari-ye Kiran wa Munjan, Afghanistan, and 254 km …

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Hackers Find a New Battleground in Space, Targeting Satellites in ‘Trophy Attacks’

Space, the ‘final frontier’, is rapidly becoming an extra-terrestrial battleground for corporate espionage and other types of cyber attack as hackers seek to gain commercial advantage from rival networks operating in the $330-billion space economy. At the same time, a …

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Mexico’s Hurricane Patricia May Hit Catastrophe Bondholders

Mexico’s natural disaster fund may be $100 million better off at bondholders’ expense after Hurricane Patricia appeared to trigger a catastrophe bond the country sold in 2012. Investors in those notes maturing Dec. 4. are waiting for a verdict on whether …

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Georgia Man on Motorized Wheelchair Cited for DUI

A Conyers, Ga., man has been accused of DUI and public drunkenness while operating a motorized wheelchair inside a grocery store. Multiple media outlets are reporting that 48-year-old Danny W. Mitchell was cited at a Kroger supermarket. According to an …

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Judge Claims Regulators Not Enforcing Duke Coal Ash Clean-Up in North Carolina

North Carolina’s environmental watchdog agency has not been trying very hard to force Duke Energy to clean up toxic groundwater pollution near a coal-burning power plant where neighbors can’t drink their well water, a federal judge said. U.S. District Judge …

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Aon Expands Florida Reinsurance Operations

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, is expanding its reinsurance and analytical capabilities in the state of Florida. Beginning January 2016, Aon Benfield will increase the number of reinsurance broking and analytics colleagues based …

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Florida-Based U.S. Cat Adjusters Names Cornett Director of Marketing

U.S. Cat Adjusters, LLC, a claims firm in the Florida property and casualty marketplace, has appointed Greg Cornett as director of Marketing. Cornett will be responsible for U.S. Cat Adjusters market expansion strategy and execution and will lead the company’s …

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Texas Sets Seasonal Worker Adjusted Gross Annual Payroll Requirement

The Texas Division of Workers’ Compensation (DWC) has increased for 2016 the adjusted annual payroll requirement of an employer for the coverage of seasonal workers from $54,229 to $54,359. This is an increase of .24 percent based on the inflation …

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Hurricane Patricia Takes It Relatively Easy on Texas

Drenching storms that the remnants of Hurricane Patricia dragged into Texas finally cleared on Oct. 25 without leaving behind the death or devastation of torrential rain and floods that hit the state earlier in the year. Some parts of Texas …

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Study Shows Pay Disparity for Women, Minorities at U. of Missouri

Female faculty members at the University of Missouri tend to make $16,000 less than their male counterparts, while racial and ethnic minority faculty members also make $16,000 less than their majority counterparts, according to a study released at a recent …

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Safety Experts: Oklahoma Quakes a National Security Threat

  In the months after Sept. 11, 2001, as U.S. security officials assessed the top targets for potential terrorist attacks, the small town of Cushing, Okla., received special attention. Even though it is home to fewer than 10,000 people, Cushing is …

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Louisiana Workers’ Comp Insurance Rates Set to Decline Again

Commissioner of Insurance Jim Donelon reports that Louisiana businesses are expected to see a decrease in their workers’ compensation rates in 2016. The National Council on Compensation Insurance (NCCI) recently proposed an overall decrease of 2.7 percent for Louisiana employers …

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Injury Claims Become Commodities with Litigation Funding, Claim Aggregation

For all the black robes and ceremony, the American legal system often operates more like a factory assembly line than a citadel of individualized justice. Ninety- five percent of criminal prosecutions end in plea deals. Many defective-product claims settle in …

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R. E. Chaix & Associates Taps Crombie in California

Irvine, Calif.-based R. E. Chaix & Associates has named Kevin Crombie to its property/casualty team. Crombie will be an independent advisor to Chaix’s P/C teams, and he will assist in securing new business opportunities. He began his career in the …

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Strong Quake Hits Afghanistan, Pakistan, India; Ongoing Search for Survivors

Afghanistan’s strongest earthquake in more than six decades shook buildings across South Asia, prompting officials from Kabul to Islamabad to New Delhi to send out rescue teams to search for survivors. More than 130 people have died. A 7.5 magnitude …

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N.J. Lawmakers: FEMA Maps May Have Exaggerated Flood Risk Across State

New Jersey’s Congressional delegation members sent a letter to the Federal Emergency Management Agency (FEMA) on Oct. 23, expressing “significant concerns with the methodology” of the Flood Insurance Rate Maps (FIRMs) for New Jersey. In a letter to FEMA Administrator …

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CoreLogic Report: ‘Windy City’ Not the Windiest City

Jackson, Miss., is the windiest city in America, according to catastrophe modeling firm CoreLogic’s just released rankings of the windiest cities in the country. The CoreLogic Windy City Ranking report, which provides a national ranking of the nation’s windiest cities, …

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Hiscox USA Names Wong as National Broker Manager, Bailey as Southwest Executive

Specialty insurer Hiscox has appointed Rick Wong as National Broker Relations manager and David Bailey as Southwest regional executive for Hiscox USA. Wong previously served as regional manager for Hiscox USA. In his new role, Wong will be responsible for …

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PivotPoint Analytics Launches Cyber Risk Assessment Product

PivotPoint Risk Analytics has launched a new company and its flagship product CyVaR, which quantifies cyber value-at-risk and gives chief information security officers (CISOs) and business leaders a common language in making cyber investment decisions and reducing cyber risk. Spun …

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Trial Ordered for Penn. Homeowner Accused of Arson, Brother’s Death

A Pennsylvania man has been ordered to stand trial on charges that he paid his brother to set fire to his northeastern Pennsylvania home as part of an insurance scam, a blaze that claimed his brother’s life. A Lackawanna County …

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Distracted Driving Ban Takes Effect in Arizona City

A new ordinance banning the use of any mobile device while driving a vehicle in Tempe went into effect over the weekend. A distracted driving ordinance approved by Tempe City Council members last month began Saturday. The law prohibits texting, talking or …

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Alaska City Considering $500 Ticket for Texting While Driving

Texting while driving in Anchorage, Alaska may land drivers a $500 traffic ticket under a proposal that shifts the violation from criminal to traffic court. The Alaska Dispatch News reported assembly members will discuss the texting and driving proposal Tuesday …

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Airbnb Under Siege From Hostile Ballot Measure in San Francisco

Travelers worldwide may love using Airbnb to book vacation stays, but the company that revolutionized home-sharing faces a hostile ballot measure in the city where it was founded. Proposition F on the Nov. 3 San Francisco ballot would limit short-term …

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New Hampshire’s Bipartisan Summit Examines Coastal Flooding

Elected officials from 18 states — representing some 95,000 miles of coastline — gathered in New Hampshire on Saturday, Oct. 24, for a bipartisan summit on coastal flooding. Some of those who attended the Rising Tides summit in Hampton, New …

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FEMA Urges Californians to Buy Flood Insurance Ahead of El Nin᷈o

Federal emergency officials are urging Californians to buy flood insurance – even those who don’t live near creeks or rivers – as El Nin᷈o conditions get underway in the Pacific Ocean, increasing chances for heavy storms this winter. Roy Wright, …

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Guy Carpenter Says Wildfire Losses May Exceed $1.75B

A briefing from Guy Carpenter & Company, LLC on Monday shows more than 9 million acres were burned by wildfires so far this year, most of that occurring in the Western U.S, and that insured losses from wildfires could approach …

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Using Hands-Free Technology While Driving Is ‘Surprisingly’ Risky: AAA Research

Mental distractions can persist for as long as 27 seconds after dialing, changing music or sending a text using voice commands, according to new research on distracted driving. Drivers using phones and vehicle information systems while driving may miss stop …

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Greenlight Re Posts Q3 Loss on Poor Investment and Underwriting Performance

Greenlight Capital Re Ltd. posted its third-straight unprofitable quarter on losses in the investment portfolio overseen by hedge-fund manager David Einhorn. The net loss for the period ended Sept. 30 widened to $219.7 million, or $5.98 a share, from $51.8 million, …

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Swiss Re America’s Donnell to Succeed Klingel as NCCI CEO

William E. Donnell, president for Swiss Re America’s U.S. property and casualty reinsurance, will become the new president and chief executive officer of the National Council of Compensation Insurance, NCCI announced. Donnell will assume the position at NCCI effective Dec. …

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House May Attempt to Revive Export-Import Bank

U.S. lawmakers will begin voting on Monday on legislation to revive the shuttered Export-Import Bank, a spokeswoman for a leading Republican backer of the bank said on Friday. A so-called “discharge petition,” a procedural maneuver that has been successful only …

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Judge Dismisses Facebook Tracking Suit; Finds No ‘Realistic Harm’

Facebook Inc. won dismissal of a $15 billion lawsuit accusing the company of secretly tracking the Internet activity of its users after they log off. U.S. District Judge Edward J. Davila in San Jose, California, on Friday agreed with Facebook’s …

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Volkswagen Wants 350 Diesel Fraud Claims Consolidated

Volkswagen AG is maneuvering to steer hundreds of class-action lawsuits over its emissions-cheating software to the court nearest its current U.S. headquarters or to Detroit, its former location. The automaker asked a panel of federal judges to combine the more …

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Erie Indemnity CEO Cavanaugh to Retire at End of 2016

Erie Indemnity Co. announced that Terrence W. Cavanaugh, president and chief executive officer, will retire at the close of 2016. Erie Indemnity Company provides management services to the member companies of the Erie Insurance Group, which includes Erie Insurance Exchange, Flagship City Insurance …

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Allianz Launches Subsidiary in Kenya

Allianz has taken a further step in its growth strategy in Africa by launching operations in Kenya. In addition to Kenya, Allianz Africa operates in 11 other countries: Benin, Burkina Faso, Cameroon, Central Africa, Ivory Coast, Ghana, Madagascar, Mali, Republic …

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CNA Hardy Launches New Website

CNA Hardy has unveiled the company’s new website (www.cnahardy.com ), which it said is “designed to showcase the combined strengths and capabilities of the organization.” CNA Hardy, acting through Hardy (Underwriting Agencies) Limited and CNA Insurance Company Limited, are independent …

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Reinsurance Broker TigerRisk Hires Ex-AIG, Hanover Exec. Bensinger as Adviser

TigerRisk Partners has hired insurance-industry veteran Steven Bensinger, who oversaw American International Group Inc.’s finances during the early part of the global credit crisis, to advise clients. Bensinger, joining as a wave of consolidation reshapes insurers, will provide advice to …

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Ironshore Acquires Novae Group’s Agricultural Team and Renewal Portfolio

Bermuda-based Ironshore International announces the acquisition of the reinsurance renewal rights to Novae Group’s global agriculture reinsurance portfolio. The transfer is conditional on Lloyd’s approval and is expected to be completed in November 2015.  Novae’s team of five agriculture reinsurance underwriters will …

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Qatar Insurance Posts 20% Premium Rise for 1st 9 Monhts of 2015

Qatar Insurance Company (QIC), the parent company of Qatar Re and Antares, has announced that for the first nine months of 2015 its gross written premiums increased by 20 percent from $1.23 billion to $1.48 billion. It also posted a …

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Mexico Losses from Hurricane Patricia ‘Won’t Exceed $200 Million:’ AIR Analysis

Catastrophe modeling firm AIR Worldwide estimates that insured losses to onshore properties in Mexico from Hurricane Patricia won’t exceed $200 million. This is a surprisingly low estimate, as AIR said: “Six hours before Hurricane Patricia made landfall in the Mexican …

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Distillery, University of Kentucky Clash Over Use of Word ‘Kentucky’

The owners of Kentucky Mist distillery say University of Kentucky attorneys have sent them a letter asserting the school owns the rights to the word “Kentucky,” at least on clothing. The Mountain Eagle reports the certified letter from Lexington attorney …

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North Carolina Man Accused of Auto Insurance Fraud

North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of Peter Dane Koke of Wilmington; he is charged with one count each of insurance fraud, attempting to obtain property by false pretense and providing false information on an insurance application. …

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Donelon Re-Elected Insurance Commissioner in Louisiana

Louisiana Insurance Commissioner Jim Donelon is returning for another four-year term. Donelon, a Republican from Metairie, sailed to re-election on Oct. 24, defeating three challengers without needing a runoff. His challengers included: Donald Hodge Jr., a Democrat and lawyer from …

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Central Texas Wildfire 100% Contained

Officials say a Central Texas wildfire that burned 7-square-miles is 100 percent contained and under control. Bastrop County Judge Paul Pape said that with the widespread rainfall in the area, the fire has been contained. The wildfire started Oct. 13 …

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Alabama Schools Look to Suspend Drivers Licenses of Truant Students

School officials in Limestone County, Alabama say that in November they will move to suspend the driver licenses of students who are chronically absent without a valid reason. The Code of Alabama allows for the denying of licenses for those …

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Florida Supreme Court to Decide on Medical Marijuana Amendment

The Florida Supreme Court is going to hold a Dec. 8 hearing on a measure to legalize medical marijuana. The court on Wednesday ordered oral arguments on the proposed amendment. The high court must decide whether or not the amendment …

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Former West Virginia Mine Worker Talks Safety Shortcuts in Blankenship Trial

A key government witness testified in West Virginia that prosecutors had threatened to charge him alongside his old coal boss, and he was under an immunity agreement Friday when he took the stand. In the criminal trial of ex-Massey Energy …

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Hurricanes not the Only Storms to Hit Texas Coast

Texans experienced a violent spring thunderstorm season this year that brought hail, wind and flood damages across the state, including the Texas coast. The spring hail and windstorms along the coast were the equivalent of Hurricane Rita (2005) in terms of …

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4 Dead, Dozens Injured, in Oklahoma State Parade Crash

A woman suspected of driving under the influence plowed into a crowd on Oct. 24 during the Oklahoma State University homecoming parade, killing four people — including a 2-year-old boy — and injuring dozens more in a collision that sent …

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Kansas to See Lower Workers’ Comp Insurance Rates

Kansas Insurance Commissioner Ken Selzer says about 65,000 businesses in the state will pay less for their workers’ compensation coverage next year. Selzer announced that he approved lower rates proposed by the National Council on Compensation Insurance. The council is …

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Arthur J. Gallagher Acquires Ohio’s Sigma II Insurance Agency

Arthur J. Gallagher & Co. has acquired Sigma II Insurance Agency in Independence, Ohio. Terms of the transaction were not disclosed. Founded in 1988, Sigma II Insurance Agency (Sigma II) is an employee benefits consultant that offers a full range of …

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Great American Names Honeycutt Divisional President, Conklin Divisional Executive VP

Cincinnati, Ohio-based Great American Insurance Group announced that Frankie C. Honeycutt was named divisional president of Great American Professional Risk Insurance (GAPRIS), succeeding Herman Roberts who will retire in March 2016. Honeycutt joined the company in 1992 as divisional assistant …

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Indiana Sets New Record for Preventable Medical Errors

New data released from the Indiana State Department of Health shows that the state has set another record for medical errors. The state agency said there were 114 preventable adverse medical incidents in hospitals and health care facilities in 2014. …

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Arkansas Panel Wants Definition of ‘Small Business’ Expanded

A legislative panel has asked Arkansas’ insurance commissioner to expand the definition of small businesses so more companies can purchase coverage for their employees through a marketplace. But state Insurance Commissioner Allen Kerr said he doesn’t have the power to …

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Hurricane Patricia Targets Mexico; 400K People, Ports, Insurers at Risk

Hurricane Patricia, the strongest in the history of the Americas, prepared to barrel into Mexico’s Pacific coast Friday, sending guests fleeing hotels in the Puerto Vallarta resort area. About 400,000 people are considered “vulnerable,” civil protection official Jose Maria Tapia …

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Alabama Fire Department Haunted House Shut Down by Fire Marshall

Alabama’s fire marshal has shut down a volunteer fire department’s Halloween attraction citing safety concerns. State Fire Marshal Ed Paulk says the “Maze of Terror” operated by the Titus Volunteer Fire Department in Elmore County had multiple safety problems. The …

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Police: 7th St. Louis Church Property Torched in 2 Weeks

An arsonist set fire to the rectory doors of a 172-year-old Catholic church early on Oct. 22, marking the seventh attempt to burn a place of worship in the St. Louis area in two weeks, police said. Authorities said an …

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N.Y. Gov. Cuomo Calls for Statewide Licensing System for Uber, Lyft

New York’s governor says he’s in favor of a statewide licensing system for Uber and Lyft as the two app-based car services look to expand throughout the state. Gov. Andrew Cuomo told reporters Wednesday that a statewide policy would be …

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HM Insurance Group Announces 2 New Hires in Pennsylvania

HM Insurance Group in Pittsburgh announced the hiring of Alex Fickes as marketing underwriter, Workers’ Compensation, for HM Insurance’s central and eastern Pennsylvania territories. Fickes previously worked as business development underwriter at ICW Group. He is based in HM Insurance’s …

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El Paso Blanketed with Hail, Heavy Rain Expected as Storm Moves East

A storm system that blanketed one West Texas city with hail is moving east, leaving other parts of the state awash under fast-moving floods. Odessa Emergency Management says crews conducted about 30 swift-water rescues from stranded vehicles and flooded structures …

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Erie Insurance President & CEO Cavanaugh to Retire at End of 2016

Erie Indemnity Company announced that Terrence W. Cavanaugh, president and chief executive officer of Erie Insurance Group, will retire at the close of 2016. Cavanaugh shared the decision Thursday during a meeting of the Board of Directors, the announcement said. …

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Philadelphia Insurance Launches Integrated Technology Product

Philadelphia Insurance Companies’ has launched its Integrated Technology product to address the issues from the evolution of technology and growth of the industry through a suite of coverages for complex, multifaceted technology organizations. PHLY’s product offers all the coverage needs …

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Donegal Group Reports $5.7M Q3 Net Income

Donegal Group Inc. today reported $5.69 million net income for its 2015 third quarter, down from $8.75 million net income a year earlier. The Marietta, Pennsylvania-based insurer said its latest quarterly results were adversely affected by higher weather-related losses. For …

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Ameriana Bancorp to Sell Ameriana Insurance Agency to Indiana Group

Ameriana Bancorp announced it has agreed to sell Ameriana Insurance Agency (AIA) to Pfenninger, Claxton and Estelle Insurance Group of New Castle, Ind. The transaction value is $1,950,000 and is expected to close in the fourth quarter of 2015, subject to …

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Court Hears Challenge to Missouri Noneconomic Damage Limits

A lawyer for the family of a woman who died after a heart operation argued on Oct. 21 to the Missouri Supreme Court that state law limiting how much they can receive in damages is unconstitutional. The case could strike …

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Arkansas Appeals Court Upholds Bulk of $2.75M Award for Family Dollar Ex-Workers

The Arkansas Court of Appeals has upheld $2.75 million in damages awarded to two former employees of Family Dollar whom the business falsely accused of theft. The court upheld the damages a Crittenden County jury awarded last year to Jimmy …

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Louisiana Supreme Court: Grocer not 100% Liable for Slip, Fall

In a decision handed down in mid-October, the Louisiana Supreme Court reversed an appeals court decision assigning 100 percent liability to a grocery store in a customer slip and fall case. Louisiana’s Third Circuit Appeals Court in Thompson v. Winn-Dixie …

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Study: Larger Oklahoma Quakes Caused by Industrial Activity

A sharp rise in earthquakes in Oklahoma in the past 100 years is likely the result of industrial activities in the energy-rich state, such as oil and natural gas production, a new study suggests. The paper by the U.S. Geological …

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Owners of Home Destroyed by Wyoming Landslide File Suit Against Contractor

The owners of a home destroyed in a landslide in Jackson have filed a lawsuit saying construction work made the hillside below their house unstable. Jeremy and Sara Budge are seeking compensation from construction and engineering companies and previous owners …

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Estate of Oregon Man Files Suit Against Home Care Agency in Death

The estate of a La Pine man who was paralyzed from the chest down has filed a lawsuit seeking $7.5 million in damages from a Bend home health care agency over his death. The estate of Mitchell Cox filed the …

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99.9 Percent Probability of L.A.-Area Earthquake: Study

There is a 99.9 percent chance of a magnitude-5 or greater earthquake striking within three years in the greater Los Angeles area, where a similar sized temblor caused more the $12 million in damage last year, according to a study …

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Everest National’s Koehler Named President of OneBeacon’s New Financial Institutions Unit

Kevin Koehler has joined OneBeacon Insurance Group as president of its new Financial Institutions business unit. In this new role, Koehler will lead a specialty team focused on professional liability, management liability and fidelity coverages targeting all classes of financial …

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Cyber Sharing, Liability Bill Makes Progress in Senate

A long-delayed bill that would make it easier for corporations to share information about cyber attacks with each other or the government without fear of lawsuits advanced in the U.S. Senate on Thursday with support from members of both parties …

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Best Affirms Munich Re and Subs Ratings; Outlook Stable

A.M. Best has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings of “aa-” of Munich Reinsurance Company and its subsidiaries. Best has also affirmed the “issue ratings” of Munich Re, as well as the ICR …

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Lloyds Banking Group Braces for Additional $1.6 Billion PPI Charge

Lloyds Banking Group Plc will probably take a further £1 billion ($1.6 billion) charge for wrongly sold loan insurance in the year’s second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals. …

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Auto Insurance Market to Shrink 60% by 2040: KPMG

By the time today’s millennial insurance professionals are its top executives, the U.S. personal auto insurance industry will be a skeleton of its current self. Within 25 years, the private passenger automobile insurance industry will shrink by as much as …

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Patria Re Set to Become First Mexican Insurer to Join Lloyd’s Platform

Lloyd’s has announced that it has “given in principle approval for Patria Re, the Mexican insurance company, to join the Lloyd’s platform. Patria Re will set up a special purpose syndicate in partnership with Lloyd’s managing agent, Pembroke, designed to …

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Four Specialist M&A Underwriters Join Marketform to Write $77 Million Line

Specialist Lloyd’s underwriter Marketform has announced the appointment of four more Mergers & Acquisitions (M&A) Insurance specialists who will be based in their London office.  The new underwriters – Dawn Bhoma, Katherine Cheung, Tanya Nash and John Kahn – are …

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Spain’s Insurance Market has Continued to Show Resilience: A.M. Best

Spain’s insurance market has continued to show resilience, with companies focusing on profitability as the country’s economy showed further signs of recovery, according to a new report from A.M. Best, entitled – “Sticking to the Basics Ensures Resilience of the …

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Cat 5 Patricia ‘Strongest Eastern North Pacific Hurricane on Record:’ NHC

Hurricane Patricia has strengthened into a Category 5 storm on the Saffir-Simpson scale, according to the National Hurricane Center in Miami, which is tracking the storm. The NHC’s latest bulletin said Patricia is the “strongest eastern North Pacific hurricane on …

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Roth Joins Insurance Wholesaler, Founders Professional, in Chicago

Insurance wholesaler, Founders Professional, has added Ryan Roth as a professional liability broker in the company’s new downtown Chicago office. Roth has nearly 10 years of professional liability experience. Prior to joining Founders, Roth was a professional liability broker with …

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The Hilb Group Acquires Gentry Insurance of Florida

The Hilb Group, LLC (THG) has acquired Gentry Insurance Agency (GIA) Inc. GIA is an independent insurance agency located in Apopka, Fla. The transaction became effective October 1, 2015. As an independent agency, GIA represents multiple insurance companies offering insurance …

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Mertz Insurance Joins Valley Insurance Agency Alliance

Waterloo, Ill.-based Mertz Insurance Agency recently became the newest member of Valley Insurance Agency Alliance (VIAA), a network of nearly 100 independent insurance agencies in Missouri and Southern Illinois. Mertz Insurance Agency, owned by Christine Mertz, specializes in life, auto, home …

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Atlanta Judge Dismisses Sperm Donor Misrepresentation Suit

A judge in Atlanta has tossed out a lawsuit accusing a sperm bank and sperm donor of misrepresenting the medical and social history of the donor. Angela Collins and Margaret Elizabeth Hanson, who live in Canada, filed the lawsuit in …

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Florida Couple Charged After Receiving Sinkhole Settlement, Selling Home

Hernando County, Florida deputies say a Brooksville couple faces mortgage fraud charges after selling their home and failing to notify the buyers about sinkhole activity. The Tampa Tribune reports that Rickey and Frances Shew received a $240,000 settlement from Florida …

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Mississippi Governor Issues Indefinite Burn Ban for Entire State

The entire state of Mississippi has been put under a burn ban because of dry conditions. Gov. Phil Bryant issued the ban Tuesday at the request of the Mississippi Forestry Commission. It will last indefinitely. Much of the state is …

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Lockton Adds de Nazarie as VP, Producer in Chicago

Lockton Companies announced that Matt de Nazarie has joined its Chicago location as vice president and producer. de Nazarie is a key addition to Lockton’s growing Chicago team and will play a vital role in developing new business, the insurance broker said. Prior to joining …

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Chubb Shareholders Say No to Finnegan’s $80M Golden Parachute

Chubb Corp. shareholders opposed an $80 million golden parachute payment for Chief Executive Officer John Finnegan, who struck a deal to sell the insurer to Ace Ltd. About 61 percent of voting shareholders said no to the pay packages for …

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Teen Driving Deaths Down 57% in 7 Years in Illinois

Illinois Secretary of State Jesse White says teenage driving deaths are down by nearly 60 percent in the state. The Democrat kicked off National Teen Driver Safety Week by announcing that is a new low since the state began the …

from Insurance Journal » News

Uber Pushing to Expand Throughout New York State

Uber wants to expand throughout New York state into cities like Buffalo, Albany, Syracuse and Rochester where the ride-hailing service is now prohibited from operating. A company executive on Tuesday called on state lawmakers to pass regulations allowing Uber to …

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Chubb Shareholders Approve Merger with Ace

The Chubb Corp. said its shareholders approved the previously announced $28.3 billion merger agreement with Ace Limited at the special meeting today. The proposal to approve the merger agreement received support from approximately 98 percent of the votes cast, the …

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Carwash Owners Sue New York City Over New Surety Bond Rules

A group of carwash owners have filed a lawsuit against New York City charging a new law illegally favors unionized carwashes. The Association of Car Wash Owners lawsuit centers on rules that require owners of nonunionized carwashes to post $150,000 …

from Insurance Journal » News

68 Homes Burned in Central Texas; Wildfire 80% Contained

Residents forced from their homes by a 7-square-mile Central Texas wildfire have been allowed to return to the evacuation zone — some to return to their homes, some to count their losses. The Texas A&M Forest Service reported on Oct. …

from Insurance Journal » News

Del. Insurance Dept. Says It Won’t Approve ‘Widow’s Penalty’ in Setting Auto Rates

Delaware Insurance Commissioner Karen Weldin Stewart announced Wednesday that her department will not approve any auto insurance company’s rate submission that includes a “widow’s penalty,” under which a widow or widower is charged a higher rate based solely on the …

from Insurance Journal » News

Big ‘I’ Adds Webb to Capitol Hill Team

Jennifer Webb has joined the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) Capitol Hill team as federal government affairs counsel. Webb joins the association’s bipartisan lobbying team primarily as a liaison to Democratic congressional offices …

from Insurance Journal » News

CNA Lights Up Chicago Skyline with Cubs Logo

The Chicago Cubs may not have made it to the World Series this year but not because it lacked support from one of the city’s foremost insurance organizations — CNA Corp. To celebrate the Cubs’ home games at Wrigley Field …

from Insurance Journal » News

Lawsuit Charges California School Failed to Report Abuse Allegation

A new lawsuit says a California high school failed to take appropriate steps when a parent reported suspected sexual abuse by a wrestling coach who is now serving time on similar charges. The San Mateo County Times reported that the …

from Insurance Journal » News

Washington Wildfire Disaster Declaration Approved by President

President Barack Obama has declared a major disaster exists in the state of Washington following this summer’s wildfires and mudslides. The disaster declaration makes federal money available to state and local governments as well as Native American tribes to repair …

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Nevada Will Add 7 Employees to Oversee Rideshare Companies

The Nevada agency that regulates taxis is preparing to ramp up its staffing now that Uber and Lyft are on the road. Lawmakers are set to review a Nevada Transportation Authority request on Wednesday to add seven new full-time staff …

from Insurance Journal » News

ICT: Less than 25% of Texas Homeowners Carry Flood Insurance

Most Texas homeowners are unprotected when it comes to flood damage, a state insurance trade group says.  Less than 25 percent of Texas homeowners carry flood insurance despite the risks of massive downpours that could occur in certain flood prone …

from Insurance Journal » News

Colorado Woman Trapped for Days After Crash Sues G.M.

A woman who was trapped in her car for nearly a week after crashing off a Colorado highway is suing General Motors over alleged defects in her 2009 Chevy Malibu. The Denver Post reported the lawsuit filed Tuesday by Kristin …

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St. Louis Police Increase Patrols in Wake of Church Fires

St. Louis, Mo., police are stepping up patrols and trying to develop profiles of possible suspects in a spate of fires that have damaged six churches in largely black neighborhoods during the past two weeks, the city’s police chief said. …

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Carriers Returning to Illinois Health Insurance Marketplace

Illinois consumers shopping for health insurance for 2016 will see familiar companies, newcomers and health plans with narrow networks when the marketplace opens in less than two weeks. The Illinois Department of Insurance announced the companies approved to sell plans …

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Letters Warn Louisiana Drivers of Fines for Lapsed Insurance

The Louisiana Office of Motor Vehicles has issued a mass mailing of 1.2 million letters to drivers with lapsed insurance, warning them a collections agency might be deployed if fines of up to $525 go unpaid. The Advocate reports the …

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Large Feral Hog Population a Big Pain for Arkansas Farmers

Federal and state officials say a large population of wild hogs in Arkansas is causing problems for farmers across the state. State officials estimate there are roughly 200,000 fast-breeding feral hogs spread across the state’s 75 counties. The Arkansas Democrat-Gazette …

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Fine for Not Having Health Insurance Is Going Up

The math is harsh: The federal penalty for having no health insurance is set to jump to $695, and the Obama administration is being urged to highlight that cold fact in its new pitch for health law sign-ups. That means …

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A Wary Drone Industry Awaits Details of Registry

Some drone industry representatives are reacting cautiously to plans by the Obama administration to combat a growing safety threat by requiring buyers to register their drones with the government. The U.S. Transportation Department is creating a task force of public and …

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Ace’s Greenberg Says Chubb Integration Will Take Years

Ace Ltd. Chief Executive Officer Evan Greenberg said it would be a mistake to start celebrating his agreement to buy Chubb Corp. for more than $28 billion, because the real test will be to integrate the insurers. “That execution takes …

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NHC Tracking Hurricane Patricia, as it Nears Mexican Coast

The National Hurricane Center in Miami is tracking Hurricane Patricia, a storm in the eastern Pacific that is moving towards the west coast of Mexico. According to the NHC’s latest bulletin, Patricia is about 255 miles – 410 kms south …

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ABIR Head Lauds Brazil Decision to Phase out Local Reinsurance Mandates

In a speech delivered before the Brazilian Center for International Relations (CEBRI), Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR), praised the Brazilian government’s recent announcement to phase out mandates on local reinsurance …

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ACE Q3 2015 Net Income Down 32.7% at $528 Million; Operating Income Up

ACE Group reported net income for the quarter ended September 30, 2015, of $1.62 per share, compared with $2.32 per share for the Q3 2014, an overall decline of 32.7 percent from $785 million in Q3 2014 to $528 million. …

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Towers Watson Focused on Irish Tax Edge in $8.7 Billion Deal with Willis

Towers Watson & Co., the U.S. consulting firm that’s seeking shareholder approval to merge with insurance broker Willis Group Holdings Plc, is increasingly highlighting the tax benefits that would come with a shift to Europe. A combination would provide “a …

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Allied World Posts $51.6 Million Q3 Net Loss; GWP Increase

Allied World Assurance Company Holdings, AG reported a net loss of $51.6 million, or $0.57 per share, for the third quarter of 2015 compared to net income of $30.9 million, or $0.31 per diluted share, for the third quarter of …

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Lash Named President of Hylant’s Cincinnati Office

Hylant, one of the nation’s largest privately owned insurance brokerage firms, has named Jim Lash president of its Cincinnati, Ohio, office. Lash will be responsible for the overall profitability and success of the office, while leading the vision and long-term growth strategies. His 25 …

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Former South Carolina Lawmaker Viers Sentenced for Insurance Money Laundering

A former South Carolina lawmaker who was once a rising star in the Republican party and was getting noticed by the governor at conservative gatherings is heading to prison for more than three years for money laundering. Thad Viers’ three-year …

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Multi-County Mississippi Prescription Drug Fraud Sting Leads to 8 Arrests

An investigation by several Mississippi police agencies has led to multiple arrests in an alleged multi-county prescription drug forgery ring and the discovery of a suspected human trafficking victim. The Clarion-Ledger reports eight arrests have been made and the Clinton, …

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Florida’s Normandy Insurance Promotes Cook to Underwriting Manager

Florida-based Normandy Insurance has promoted Greta Cook to the position of underwriting manager. Formerly a senior underwriter with Normandy, Cook’s new role will include managing the underwriting team and focusing on opportunities for expansion and improving processes for the underwriting …

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BHSI Adds New Leadership, Expands Executive, Professional Lines Offerings

Berkshire Hathaway Specialty Insurance (BHSI) has added new leadership to its Executive & Professional Lines as part of the company’s expansion of its dedicated underwriting capabilities in the U.S. According to Dan Fortin, senior vice president, head of Executive & …

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Data Call Deadline Approaching for Property Insurers in Georgia

Personal and commercial property insurers in the State of Georgia have until Oct. 30 to respond to a Data Call from the Georgia Insurance Department. The bulletin for the data call, issued in August, states the information is necessary in …

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How to Save Money on Car Insurance for Teen Drivers

Your teenager may be an honor student and exemplary citizen, but as far as the car insurance industry is concerned, your child is a poor risk. They base that dim view on statistics from the CDC that show drivers age 16 to 19 are four times more li...

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

Kingstone Approved to Write P/C Insurance in Connecticut

Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, today announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in Connecticut from the Connecticut Insurance Department. In addition to New York, Pennsylvania, and …

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For Vermont Police, Checking for Pot-Impaired Drivers Is Work in Progress

It’s common knowledge that driving with blood alcohol content higher than .08 violates the law. But with marijuana, things are a lot more hazy. As Vermont and other states consider following the lead of Colorado and Washington state in legalizing …

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Insureon Lands $31M Investment from Oak HC/FT, Accretive

Chicago-based online provider of small business insurance, Insureon, announced $31 million in new funding led by Oak HC/FT, a venture capital fund investing in financial technology companies. Also participating in the round of funding was the private investment firm, Accretive, …

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NORCAL Expands Medical Professional Liability Coverage to Arizona

NORCAL Mutual Insurance Company is now offering medical professional liability insurance to physicians and health care professionals in Arizona. This is the twelfth state to come under the parent company’s umbrella as part of NORCAL Mutual’s national expansion plan, which …

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P/C Insurers Posted $31B Profit for 2015’s 1st Half, Highest Recorded Since 2007

Private U.S. property/casualty insurers’ net income after taxes grew to $31.0 billion in the first half of 2015 from $26.0 billion in the first half of 2014, according to a report today from ISO, a Verisk Analytics business, and the …

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K&K to Partner with Producers to Provide New Program Business Markets

K&K Insurance Group, Inc., a subsidiary of Aon plc, is now accepting property and casualty program business from producers. K&K has provided property and casualty program options for more than 60 years, traditionally focused on the sports and leisure industries, …

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South Dakota City to Open $5.8M Facility Rebuilt with Insurance Funds

City leaders in Spearfish, S.D., are set to open a $5.8 million facility built to replace a city-owned call center that collapsed during a blizzard two years ago. The Atlas Building, funded by insurance money, is tentatively set to open …

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Wisconsin’s Ashley Furniture Again Cited for Alleged Safety Hazards

A federal safety agency has again cited Ashley Furniture Industries Inc. for alleged safety violations at one of its Wisconsin factories. The U.S. Occupational Safety and Health Administration alleged that Arcadia-based Ashley failed to protect workers from moving machine parts …

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Arkansas Drought Heightens Fire Risk, Lowers Lake Levels

The U.S. Army Corps of Engineers says boaters should be careful on Arkansas lakes as a drought lowers water levels, and foresters say outdoor burning should be avoided to reduce the risk of wildfires. The Corps said water levels at …

from Insurance Journal » News

Workers’ Comp Medical Payments in Illinois Rose in 2013: Report

Medical payments per workers’ compensation claim in Illinois rose 4.1 percent in 2013, after decreasing 20 percent between 2010 and 2012 as a result of a 30 percent reduction in fee schedule rates, according to a recent study by the …

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Oklahoma Commissioner to Insurers: Clarify Earthquake Coverage

In response to a growing number of questions from consumers about earthquake coverage, Oklahoma Insurance Commissioner John D. Doak has asked property/ casualty insurers in the state to send each policyholder a clarifying notice of earthquake coverage. In announcing the new …

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Rate Changes in Store for Texas Auto Insurance Plan

The Texas Automobile Insurance Plan Association (TAIPA) will raise some rates and lower some for private passenger and commercial automobile insurance, effective Feb. 1, 2016, the Texas Department of Insurance announced. A recently issued commissioner’s order revises TAIPA’s private passenger …

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Family of Oregon Girl Who Died in 2014 Plane Crash Sues Manufacturer

The family of a 4-year-old girl who died when the homebuilt airplane she was riding in crashed in Toledo is suing the plane’s manufacturer. The Oregonian reported the suit against Van’s Aircraft of Aurora seeks $35 million in damages in …

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Quakes Still Rattling Area East of San Francisco

A series of small earthquakes that have struck east of San Francisco since last week continue to rattle the region. KGO-TV reported Tuesday that the largest one so far, a magnitude-3.5 temblor struck around 4:20 p.m. Monday, according to the …

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Swett & Crawford’s MGA Adds Two Lumber Underwriters in California

The Insurance Center for Building Materials has hired Rick Zorman and Phil McCown in Los Angeles. Both Zorman and McCown are experienced lumber underwriters and will expand the firm’s capabilities for this market. Zorman has experience in heavy manufacturing and …

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PwC Concludes South African Insurers Seeking Technology Partnerships

South Africa’s biggest insurers are considering technology and telecommunications partnerships as they seek ways to improve earnings to counter increased competition and a slowing economy, according to PricewaterhouseCoopers LLC. “There are a few tie-ups being worked on,” Victor Muguto, PwC’s …

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Lloyd’s Signs MoU with China’s Taiping Insurance Group

Lloyd’s announced that it has signed a Memorandum of Understanding (MoU) with China Taiping Insurance Group, “marking a significant level of co-operation between the world’s only specialist insurance and reinsurance market and one of China’s leading insurance companies.” The agreement …

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Obama Administration Names Task Force to Create Drone Registry

The Obama administration said on Monday that it would require drone owners to register their unmanned aircraft as part of an effort to curtail rogue drone flights that pose a danger to commercial aircraft and crowded public venues. U.S. Transportation …

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Senate Takes Up Cyber Liability Bill

The U.S. Senate on Tuesday began debating a long-delayed bill that would make it easier for corporations to share information about cyber attacks with each other or the government without concern about lawsuits. Senate Republican Majority Leader Mitch McConnell said …

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Sony Settles Employees’ Suit Over ‘The Interview’ Data Breach for $8 Million

Sony Pictures Entertainment Inc. has agreed to pay up to $8 million to resolve a lawsuit by employees who claimed their personal data was stolen in a 2014 hacking tied to the studio’s release of a comedy set in North …

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Willis Capital Market Report Finds Decline in ILS Issues as Growth Stabilizes

According to the latest ILS report from Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings plc, “$650 million of non-life Rule 144A catastrophe bond capacity was issued across three transactions in the third quarter of 2015, taking …

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Munich Re Working with Clients to Develop Solutions for ‘Digitalization’

A bulletin from Munich Re notes that the “risk landscape for insurers and their clients is changing faster than ever before, especially in terms of technologies, services, sales channels and demand patterns.” As a result the world’s largest reinsurer has …

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Rivera Appointed CEO of Aon Benfield’s Colombian Reinsurance Business

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc announced the appointment of Sergio Rivera Jiménez as CEO of Aon Benfield Colombia, effective immediately. He reports to Alejandro Galizia, CEO of Aon Benfield Latin America. Rivera has …

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Oswald Companies Names Hedrick as P/C Leader in Cincinnati

The Cleveland, Ohio-based independent insurance brokerage, Oswald Companies, has appointed Jim Hedrick to client experience leader, Property and Casualty. He will be based at the Cincinnati branch of Oswald and serve all of the organization’s P/C divisions. Hedrick brings a …

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Mississippi Court: Apartment Complex Can be Sued Over Resident’s Murder

The Mississippi Supreme Court says the family of a man killed in 2008 can sue his apartment complex’s owners for failing to warn him that his roommate might have violent tendencies. The Commercial Dispatch reports that the high court overturned …

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Fire at Georgia Apartment Complex Leaves 40 Homeless

Almost 40 people are looking for a new place to live after an overnight fire destroyed part of an apartment complex in Columbus, Georgia. Authorities say the Lullwater Apartments caught fire around 1 a.m. Monday. No one is injured, but …

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Second Family Files Lawsuit in Florida Over Sunken Ship

Another lawsuit is being filed on behalf of a crew member aboard the cargo ship that sunk during a hurricane. Court records show the wrongful death lawsuit was filed Monday on behalf of Tina Riehm, widow of third mate Jeremie …

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Mississippi Insurance Department Adds Tina Parker to Consumer Team

The Gulf Coast office of the Mississippi Insurance Department is expanding its services to coastal consumers with the addition of Tina Parker to its staff, Commissioner of Insurance Mike Chaney has announced. Parker, a resident of Ocean Springs, will be …

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California Commissioner Approves Reduced 2016 Pure Premium Rate Filing

California Insurance Commissioner Dave Jones approved workers’ compensation rates for 2016 that are 2 percent below the average approved in July. The Workers’ Compensation Insurance Rating Bureau submitted its Jan. 1, 2016 pure premium rate filing to the California Department …

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USAA to Offer Rideshare ‘Gap Protection’ Coverage in Massachusetts

Massachusetts Gov. Charlie Baker and the Division of Insurance announced that the United Services Automobile Association (USAA) has been approved to offer additional “gap protection” coverage to its policyholders who drive their cars for rideshare or transportation network companies (TNC), …

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Travelers Insurance Sales, Underwriting Improve in Q3

Travelers Cos., the lone property/casualty insurer in the Dow Jones Industrial Average, said third-quarter profit advanced 1 percent as sales growth accelerated, and improved underwriting margins helped cushion lower investment income. Net income climbed to $928 million from $919 million …

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XS Brokers Announces 5 New Hires in Massachusetts

XS Brokers, a wholesale brokerage based in Quincy, Massachusetts, announced the following five new hires. Sean McVicker joined XS as broker. McVicker comes from AmTrust E&S where he was casualty broker placing general liability accounts including higher hazard contractors, OLT …

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Virginia Bureau of Insurance Announces 2 New Deputy Commissioners

The Virginia State Corporation Commission’s Bureau of Insurance has appointed Rebecca Nichols as deputy commissioner of the Property and Casualty Division. Nichols joined the Bureau of Insurance in 1985 in the Rates and Forms Section of the Property and Casualty …

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Farmers Insurance Agrees to Settle Missouri No-Call Lawsuit

California-based Farmers Insurance has agreed to pay Missouri $575,000 to settle a lawsuit claiming its agents violated state telemarketing laws. Attorney General Chris Koster said that is the largest amount ever paid to the state by a telemarketer for violations …

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Prescription Drug Overdose Deaths Fall 5% in Oklahoma

The number of Oklahoma residents dying from unintentional prescription drug overdose dropped last year. The Oklahoman reports the state saw a 5 percent decrease in such deaths from the previous year. Preliminary data from the state Health Department show 510 …

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Deadline for Applying to Texas FAIR Plan Assoc. Governing Committee Extended

The Texas Department of Insurance has extended a deadline to apply to serve on the board that governs the Fair Access to Insurance Requirements (FAIR) Plan, which provides residential property insurance in underserved areas where it’s not readily available through …

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Mass. to Hold Public Hearings on Homeowners Insurance Marketing & Sales

Massachusetts state insurance officials are going on the road with a series of public hearings to explore how homeowners insurance is sold in Massachusetts. The Massachusetts Division of Insurance says the hearings will give consumers a chance to express concerns …

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Fires at 5 St. Louis-Area Churches in a Week Deemed Suspicious

Fire officials say fires set at five St. Louis-area churches in little more than a week are all suspicious and likely are connected. The fifth fire was reported early Saturday at the New Life Missionary Baptist Church in northwest St. …

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Former Basketball Coach Nets $700K Settlement with University of Hawaii

The University of Hawaii Board of Regents has approved a $700,000 settlement over the firing of former basketball coach Gib Arnold. The regents voted Thursday to approve the settlement package, which includes a $500,000 payment to Arnold over three years …

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Oregon Clinic Slapped With $2.2M Wrongful Death Suit

An Oregon clinic is facing a negligence lawsuit from the family of an Oregon woman who died four days after a procedure meant to relieve her migraine headaches. The Eugene Register-Guard reported that the family of 47-year-old Springfield woman Christine …

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Penn. Reminds Drivers: Insurers Can’t Add Surcharge for Deer-Related Crash

Pennsylvania Insurance Commissioner Teresa Miller is reminding drivers that their insurance company cannot add a surcharge to their auto premium for a crash involving a deer. The commissioner also urged drivers to be alert for deer, as this is the …

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Southeast Missouri Rattled by Small Earthquakes

A pair of earthquakes hit southeast Missouri on Oct. 16, but there were no reports of damage or injuries. The U.S. Geological Survey said a 3.4-magnitude earthquake, followed 24 minutes later by a 3.2-magnitude aftershock, hit southeast Missouri in the afternoon …

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Progress Made Against Central Texas Wildfire

As of Oct. 19, about 70 percent of a wildfire that has burned thousands of acres in Central Texas had been contained, officials said. Some 275 firefighters were assisted by at least seven aircraft dumping water and fire retardant on …

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Hylant Picks Riley as President of Cleveland, Ohio Office

Hylant, one of the nation’s largest privately owned insurance brokerage firms, announced that Kim Riley has accepted the role of president of its Cleveland, Ohio, office. With over 30 years of insurance, risk management and mergers and acquisition experience, Riley will be responsible …

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Private Equity Firm Kelso to Acquire Majority Stake in Boston’s Risk Strategies

Risk Strategies Company, a Boston-Based insurance and benefits brokerage, and Kelso & Company, a New York City-based private equity firm, announced today that they have signed a definitive agreement whereby Kelso will acquire a majority stake in Risk Strategies from …

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Integro Names Holley Principal in its California Office

Integro Ltd. has named Peter Holley a principal in its San Francisco, Calif. office. Holley is responsible for Integro’s surety operations on the West Coast, and will coordinate with surety colleagues throughout the U.S. and manage surety market relations. Holley …

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Climate Change Adds Billions to U.S. Hurricane Losses: Study

Climate change has added billions to the toll of hurricane strikes on the U.S., according to a study that challenges the prevailing scientific view that the rising cost is mainly because more buildings, towns and businesses are in the way. …

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Hanover CFO Greenfield Dies; CEO Eppinger Assumes Role

Hanover Insurance Group Inc. Chief Financial Officer David Greenfield has died, leading Fred Eppinger, the insurer’s leader for more than a decade, to take on a dual role ahead of his planned departure. Greenfield, 53, died over the weekend after …

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Lloyd’s CEO Beale, 5 Others in Insurance Named LGBT Role Models

Inga Beale, CEO of Lloyd’s of London, has been named an outstanding lesbian, gay, bisexual and transgender (LGBT) executive role model by the London-based LGBT business organization OUTstanding and Financial Times. Beale, ranked the #1 LGBT role model, is one …

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Zhang to Head New Odyssey Re Representative Office in Beijing

Odyssey Re Holdings Corp. announced that it has received regulatory approval from the China Insurance Regulatory Commission (CIRC) to establish a representative office in China. The bulletin said, the “new office will be based in Beijing and led by Jane …

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Dewey Case Ends with Hung Jury; Top Execs Avoid Jail

Three former top executives of Dewey & LeBoeuf LLP avoided potential prison terms after a Manhattan jury failed to agree on whether they lied to investors in the run-up to the largest law-firm bankruptcy in history. The mistrial followed weeks …

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ABI Notes UK Government Report Shows Rising Cyber Crimes

The Association of British Insurers (ABI) has noted that the latest UK Government crime figures, released on Monday, “show a rise in recorded crime due to cyber offences being recorded for the first time. Matt Cullen, the ABI’s Head of …

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Marine Crimes in SE. Asia at Highest Level in Years: Dryad Maritime Study

In its latest report for the third quarter of 2015 Dryad Maritime, the UK’s maritime intelligence company, found that global maritime crime is showing “a stark rise of 38 percent of incidents across Southeast Asia,” compared to the first nine …

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Swiss Re Names Baertschi President of Reinsurance – Latin America

Swiss Re announced that Urs Baertschi has been appointed to the new position of President of Reinsurance, Latin America, effective January 1, 2016. He will have overall responsibility for Swiss Re’s reinsurance business in Latin America region, which includes Mexico, …

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AIR Analyzes Typhoon Koppu’s Heavy Flooding Impact on the Philippines

A report from catastrophe modeling firm AIR Worldwide highlights “widespread flooding, landslides, wrecked roads and bridges, downed trees, and power outages” in the Philippines in the wake of Typhoon Koppu’s passage. The storm has finally moved over the Island of …

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South Carolina Issues Emergency Orders to 63 Dam Owners

South Carolina environmental regulators have issued emergency orders to the owners of 63 dams, of which almost half are in Richland County. Officials with the Department of Health and Environmental Control say they assessed 390 dams, issuing emergency orders to …

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MarketScout Hires Wittwer to Private Client Solutions Division in South Carolina

MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, has expanded its Private Client Solutions (PCS) E&S underwriting division with the hire of Crystal Wittwer. Wittwer has over 15 years of industry experience and will serve as …

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South Carolina Bar Ordered to Pay $3.85M for Serving Drunk Driver

A Richland, South Carolina jury has ruled that a local bar owes $3.85 million in a negligence verdict issued in connection with the bar’s role in serving liquor to a drunken man who later was in a wreck that killed …

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Report: West Virginia Leads U.S. in Prescription Drug Overdoses

Nearly 2,900 West Virginians have overdosed on prescription painkillers or heroin over the past five years, according to the state Health Statistics Center. The center also said overdose deaths last year were the highest in West Virginia since 2011, and …

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Supreme Court to Hear Bids to Thwart Triple Damages in Patent Cases

The U.S. Supreme Court on Monday agreed to consider whether a $70 million jury award that Stryker Corp. won against Zimmer Biomet Holdings Inc. for patent infringement should be tripled. The justices agreed to hear an appeal filed by Stryker …

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Missouri Glass Company to Appeal OSHA Penalties

An official with a southeast Missouri glass company where a worker suffered third-degree burns says the firm will appeal proposed penalties of $122,000. The U.S. Occupational Safety and Health Administration announced the proposed penalties on Oct. 14 for Piramal Glass …

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4 N.J. Residents Charged With Staging Car Crash, Seeking Insurance Payouts

A Union County, New Jersey, man and three others were indicted on Oct. 14 for allegedly orchestrating a staged auto accident in Paterson, New Jersey, in 2012 and later seeking more than $48,000 in medical payouts from his insurer, authorities …

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Farmers Insurance Launches Rideshare Insurance Coverage in Kansas

Farmers Insurance has introduced rideshare insurance coverage designed to provide seamless coverage for ride-hailing drivers in Kansas. Farmers worked with representatives of the Kansas Insurance Department, legislators and leaders of transportation network companies (TNCs) to develop a product designed to …

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Western-Themed Center in Northeast Texas Damaged by Fire

A fire heavily damaged a western-themed shopping center in North Texas, just two years after it was damaged by another blaze. The Van Zandt County Fire Marshal’s Office reported that flames early in the morning on Oct. 17 damaged about …

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Minnesota Jury Awards Mechanic $9.1M in Medical Malpractice Suit

A Minnesota jury has awarded $9.1 million to a former auto mechanic who sued his anesthesiologists after suffering spinal cord damage and paralysis in a 2012 surgery. Joseph Lakoskey’s attorney argued that an anesthesiologist left him dangerously dehydrated before surgery …

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Insurance Issues Muddy in ‘Gig Economy’

Lucas Root says he doesn’t remember seeing the door that opened up in front of his bike, knocking him to the pavement and breaking out three teeth. But when he learned the driver was working for Uber, the app-based ride-hailing …

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Some Texans Returning to Homes in Fire-Ravaged Area

Firefighters in Central Texas are halfway to controlling a wildfire that’s destroyed dozens of homes, and authorities said on Oct. 17 that enough progress has been made to allow some residents to return to their neighborhoods. The Hidden Pines Fire has …

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Oregon Insurance Co-Op Health Republic Closing

Health Republic Insurance, one of two nonprofit insurers created in Oregon under President Barack Obama’s health care law, announced that it is shutting down. Health Republic will continue to pay claims through the rest of the year but won’t sell …

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Apple Ordered to Pay $234M in U. Wisconsin Patent Infringement Case

A U.S. jury has ordered Apple Inc. to pay the University of Wisconsin-Madison’s patent licensing arm more than $234 million in damages for incorporating its microchip technology into some of the company’s iPhones and iPads without permission. The amount was …

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Dallas Educator Named InVEST Teacher of the Year

Denise Tucker, a teacher at Woodrow Wilson High School in Dallas, has been named the 2015 InVEST Teacher of the Year Award. The program is a key driver to attract new talent to the insurance industry. Tucker has taught high school …

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Kaatman, Rubinstein Earn Ownership in Mathenia Insurance Group

Mathenia Insurance Group owner Dave Mathenia announced that Bill Kaatman and Kristin Rubinstein have earned co-ownership of the insurance agency based in St. Peter, Mo. Mathenia, who has more than 35 years in the industry, will continue to serve as …

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J&J Win in First Trial Against Tylenol Skirts Defective Design Claim

Johnson & Johnson defeated a lawsuit claiming it had improperly designed its Tylenol pain reliever in the first case to go to trial over the link between the widely used over-the-counter drug and liver damage, according to a J&J spokesman. …

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Obama Administration Considers Drone Registry

The Obama administration is taking the first steps to require that buyers of drones register the unmanned aircraft with the government to combat a growing safety threat, according to a person familiar with the proposal. The U.S. Transportation Department will …

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Reinsurers See Further Price Declines for 2016 in Wake of Mergers

The world’s largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago as a flurry of takeovers in the industry fails to absorb some of the excess capital. Reinsurers and brokers …

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XL’s Preliminary Loss Estimates for Tianjin-$100M, $30M for Others in Q3

XL Group plc announced that its preliminary loss estimates for the Tianjin disaster and other events in the third quarter of 2015 – pretax and net of reinsurance and reinstatement premium – were as follows: The mid-August 2015 Tianjin, China …

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California Woman Blinded in Eye by Flying Disc Settles Suit for $3M

A woman who was blinded in one eye by a flying golf disc at a Southern California park has settled a lawsuit for $3 million. The Daily Breeze of Torrance reported that the settlement involves Noreen Goodbody. She was struck …

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Wills GB Names Clayton to Head Construction Operations

Willis Group Holdings announced the appointment of Alex Clayton as Head of Construction for Willis GB, the operating segment that includes Willis’s specialty, facultative and retail insurance businesses in Great Britain. He is based in London and will be working …

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Slow Moving Typhoon Koppu Kills 4 in Philippines, Displaces Thousands

Typhoon Koppu left at least four people dead in the Philippines, shutting schools and government offices, while floods and landslides continue to threaten the nation’s main Luzon Island. The slow-moving and powerful storm caused a wall to collapse in Zambales …

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Japan Post’s Bank & Insurer IPO’s Priced at ‘Top of ‘Range’ at $65 Biilion

State-owned Japan Post on Monday set prices for separate initial public offerings of its bank and insurance arms at the top of their ranges, indicating strong demand from retail investors for businesses valued at a combined $65 billion. In what …

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Norway’s Failure to Provide Solvency Guidance Unnerves Investors: Storebrand

Norway is unnerving investors by failing to give clear signals on the implementation of the next step in insurance industry regulations, according to Storebrand ASA, Norway’s largest listed life insurer said. Authorities have surprised the market several times, making investors …

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UN Climate Negotiators in Final Effort before Paris to Achieve ‘Post-Carbon’ Era

Climate negotiators are meeting today in Bonn to take a last crack at a draft plan aimed at nudging the world into a post-carbon era. The five-day gathering marks the final round of United Nations talks before envoys, ministers and …

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Willis Re Unveils ‘Enhanced Approach’ for Catastrophe Risk Exposure

Willis Re, the reinsurance brokerage division of Willis Group Holdings plc, announced that it has released the “Willis Re View of Catastrophe Risk.” The program offers an “enhanced approach to catastrophe risk modeling that enables insurers to more accurately measure, …

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Zurich Taps SecurityScorecard for Third Party Risk Evaluation, Monitoring

Zurich has retained SecurityScorecard, a security-risk benchmarking company, to monitor its third-party cyber security risks by maximizing the security intelligence and continuous risk-collection capabilities found in the SecurityScorecard platform. SecurityScorecard’s security risk benchmarking platform will allow Zurich to conduct a …

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South Carolina Storm Victims Seek Help With Recovery Costs

Two weeks ago, South Carolina’s floods sent 6 feet of water into Walt Oliver’s home. Now, after volunteers helped gut the ruined plaster, carpeting, duct work and hardwood floors, it’s “down to studs and subfloors,” he said. Like most residents …

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USDA Offers Drought Disaster Aid to 41 Mississippi Counties

The USDA is offering drought disaster aid in 41 Mississippi counties. U.S. Sen. Thad Cochran says Agriculture Secretary Tom Vilsack has designated 14 Mississippi counties as primary natural disaster areas because of drought conditions. Another 27 counties are named as …

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Florida Chiropractor Accused of $1.5M Insurance Fraud Scam

Chief Financial Officer Jeff Atwater announced the arrest of Broward County, Florida Chiropractor Eric Wiegandt, 41, on multiple felony fraud charges related to a $1.5 million insurance fraud scheme. A joint state and federal investigation led by the Florida Division …

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Next Class of Veterans Begin Insurance Career Training at Florida-Based DVIC

Disabled Veterans Insurance Careers (DVIC) has launched its next class of disabled veteran trainees. The veterans will spend the next six months training and learning the many facets of the insurance industry in order to pursue careers in that field. There are currently four …

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TV Host Erin Andrews Files $75M Suit in Nashville in Peeping Case

Sportscaster and TV host Erin Andrews is seeking a $75 million judgment against the Marriott hotel chain and a man who admitted making secret nude tapes of her in 2008. The lawsuit filed in Nashville in 2010 was amended this …

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Insurance Industry, IICF Raise $70K-Plus for Central Texas Flood Victims

Central Texas may currently be under drought conditions and suffering from elevated wildfire risk but merely months ago the situation was just the opposite. In May, the Austin and Central Texas areas were deluged with flooding from a widespread storm …

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People’s United Insurance Agency Acquires Kesten-Brown in Connecticut

People’s United Bank N.A., a Bridgeport, Connecticut-based regional bank with nearly 400 retail locations in six states, announced that its subsidiary, People’s United Insurance Agency, has acquired Kesten-Brown Insurance, a Bridgeport, Connecticut-based insurance brokerage. People’s United Bank said the acquisition …

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Drug Deaths Outnumbered Highway Fatalities in Virginia for 1st Time Last Year

Deaths from heroin and opioid use outnumbered highway fatalities in Virginia for the first time last year, officials said. Records show that 728 Virginians died from drug overdoses in 2014, while 700 people died on the state’s roads. The increase …

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Unlike Uber, On-Demand Office Service Cleans Up with Employees

It’s scorching on the streets of Midtown Manhattan as Afonso Oliveira strides around the lunch-break crowds, unbent beneath his 45-pound, $350 industrial backpack. He is carrying everything that might be needed to tighten a leaking faucet at a digital marketing agency …

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N.Y. Gov. Cuomo Announces New Measures to Combat Worker Exploitation

New York Gov. Andrew Cuomo announced on Oct. 14 new measures to support a statewide task force to combat worker exploitation. The measures include a new $700,000 funding to coordinate outreach and education with workers and employers, as well as …

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