Tue, 03 May 2016 04:00:39 +0000
  Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean higher insurance rates next year and for the foreseeable future for every Florida policyholder, according to Citizens Propert...
Mon, 02 May 2016 19:30:02 +0000
Bain Capital Private Equity and Vista Equity Partners have agreed to acquire insurance agency technology firm Vertafore from TPG Capital. The parties did not disclose terms of the transaction. Reuters, citing anonymous sources, said it was for $2.7 bil...
Mon, 02 May 2016 16:59:51 +0000
Willis Programs, a unit of Willis Towers Watson, and the Association for Unmanned Vehicle Systems International (AUVSI), an industry association for unmanned systems, have partnered to develop DroneGuard, an insurance program for AUVSI’s members. Drone...
Mon, 02 May 2016 16:58:35 +0000
Greater New York Insurance Companies (GNY), a super-regional carrier in commercial property/casualty insurance, announced it will begin issuing policies in Maine beginning May. “Many New England business owners and property managers have properties in ...
Mon, 02 May 2016 16:53:13 +0000
Prime Risk Partners Inc. reported it has entered into an agreement to acquire Old National Insurance (ONI), a large independent insurance agency in the Midwest. ONI will operate under the name ONI Risk Partners and will retain all of its …
Mon, 02 May 2016 16:50:04 +0000
In less than an hour early on April 29, more than 7 inches of rain had accumulated at the water treatment plant in Palestine, Texas. The flash-flooding that occurred as a result is blamed for six fatalities. Palestine Mayor Bob …
Mon, 02 May 2016 16:48:39 +0000
Allison Warmuth, senior underwriter in healthcare at Lexington Insurance, was killed in a tragic accident Saturday after the scooter she was driving was struck by a duck boat in downtown Boston. Warmuth, 28, was also an associate board member of …
Mon, 02 May 2016 16:43:39 +0000
An employee of a suburban Chicago furniture warehouse is facing federal arson charges for allegedly starting a fire that destroyed the building. Ruben Ochoa Cruz is charged in the April 21 fire that destroyed The RoomPlace furniture warehouse in Woodri...
Mon, 02 May 2016 16:41:15 +0000
Ohio-based State Auto Financial Corp. announced first quarter 2016 net income of $3.0 million, or $0.07 per diluted share, versus net income of $24.7 million, or $0.60 per diluted share, for the first quarter of 2015. Net income from operations …
Mon, 02 May 2016 16:32:19 +0000
Pilgrim’s Pride, based in Waco, Texas, on April 26 ordered a massive recall of cooked chicken products after consumers and federal meat inspectors found contamination by such foreign material as wood, plastic, rubber and metal. The recent recall of alm...
Mon, 02 May 2016 16:28:05 +0000
A newspaper reports that early indications are that crashes have risen since Columbus, Ohio, turned off its traffic cameras amid continuing legal and legislative battles over their use. The Columbus Dispatch reports crash data from the state Departme...
Mon, 02 May 2016 16:26:01 +0000
Legislation that requires health insurers to cover the treatment of children with autism has received final legislative approval in the Oklahoma House. The House voted 65-26 for House Bill 2962 and sent it to Gov. Mary Fallin for her signature. …
Mon, 02 May 2016 16:24:06 +0000
The Texas-based agency partnership Combined Agents of America LLC (CAA) announced that it produced $96.3 million in total property and casualty revenue in 2015, compared to the $92.2 million in total revenue produced in 2014. The insurance agency aggr...
Mon, 02 May 2016 15:37:21 +0000
The Hawaii Legislature has approved a bill that will enable Hawaii drivers to show proof of insurance with their cellphone in a traffic stop. House Bill 1705 will give consumers the choice to use a paper insurance card or use …
Mon, 02 May 2016 15:32:42 +0000
Signs of earthquakes are everywhere in the chaotically beautiful geology of southwest Utah and the region where the mile-high Colorado Plateau falls off into the corrugated Basin-and-Range landscape that dominates neighboring Nevada. The treeless deser...
Mon, 02 May 2016 15:27:47 +0000
Uber and advocates for the blind have reached a lawsuit settlement in which the ridesharing company agrees to require that existing and new drivers confirm they understand their legal obligations to transport riders with guide dogs or other service ani...
Mon, 02 May 2016 15:21:35 +0000
Sitka, Alaska officials have approved an ordinance that prohibits drivers from using their cellphones while driving. The measure approved by the Sitka Assembly last week bans more cellphone uses while driving than state law, which only prohibits textin...
Mon, 02 May 2016 13:57:01 +0000
The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court …
Mon, 02 May 2016 13:37:34 +0000
Facebook Inc. revealed that it spent $4.26 million on security for Mark Zuckerberg last year, its first disclosure of such costs, and the highest among companies in the Standard & Poor’s 500 Index that have filed proxy statements for fiscal …
Mon, 02 May 2016 13:04:44 +0000
In 2016, it’s easier than ever to play the financial markets. From the explosion of online brokers to the rise of robo-advisors, armchair investors have dozens of tools just a few clicks or taps away. Daily trading is a snap. …
Mon, 02 May 2016 13:02:04 +0000
Express Scripts Holding Co. plans to introduce several benefit programs aimed at fighting high drug costs, including speeding up how quickly it moves insurer and employer customers to cheaper medicines after sudden price hikes, its chief medical office...
Mon, 02 May 2016 11:18:44 +0000
American International Group is offering for sale about $1.2 billion worth of shares in China’s PICC Property and Casualty Co. Ltd. (PICC P&C) in a block deal, IFR said on Saturday, citing a term sheet of the deal. AIG’s stake …
Mon, 02 May 2016 09:21:08 +0000
Ratings agency Standard & Poor’s said on Friday it expected Britons to vote to remain in the European Union by a small majority in a June 23 referendum, but that the risk of leaving was a negative for the country’s …
Mon, 02 May 2016 09:09:51 +0000
Australian tech entrepreneur Craig Wright told the BBC on Monday he was the creator of controversial digital currency bitcoin, ending years of speculation about a person who until now has gone by the name of Satoshi Nakamoto. The BBC said …
Mon, 02 May 2016 07:50:34 +0000
XL Catlin’s insurance operations announced that Carrie Huang has been promoted to the position of Asia underwriting manager for War, Terrorism and Political Violence. Based in Singapore, she will be responsible for developing XL Catlin’s War, Terrorism...
Mon, 02 May 2016 07:33:39 +0000
The number big investors ignoring climate change risk increased last year despite a stark warning from Bank of England Governor Mark Carney about the potential for “huge” losses from a sudden shift in regulation designed to curb global warming and …
Mon, 02 May 2016 06:10:26 +0000
National Football League executives may for the first time have to testify about what they knew of concussion risks after a judge cleared the way for questions from insurers who are suing to avoid paying more than $1 billion in …
Mon, 02 May 2016 06:00:11 +0000
Anyone who has had embarrassing photos posted on social media or been deluged with angry messages can attest to the high emotional cost of cyber bullying. But there is also a cost in real dollars for some to clean up …
Mon, 02 May 2016 05:28:53 +0000
Columbus, Ohio-based Grange Insurance has added Terri Dalenta as executive vice president, chief financial officer. Dalenta will lead Grange’s financial management, enterprise risk management and investments, as well as maintain the company’s financial...
Mon, 02 May 2016 05:19:07 +0000
The mayor of Gulfport, Mississippi, has declared a state of emergency because of heavy rain and widespread flooding in the largest city on the state’s Gulf Coast. Gulfport emergency managers say 5 to 12 inches of rain fell in the …