Insurance Journal » Stephanie K. Jones http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 23 Apr 2014 21:47:26 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 10 Things to Know About Public Entities http://www.insurancejournal.com/magazines/features/2014/04/21/326378.htm Mon, 21 Apr 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=326378 There are 3,141 counties and county equivalents in the 50 U.S. states and the District of Columbia. (USGS CoreFacts, U.S. Geological Survey) Counties build and maintain 45 percent of the public roads and 230,690 of the nation’s bridges, and are …

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Nebraska Court: Agent Breached Contract but Client List Not a Trade Secret http://www.insurancejournal.com/magazines/features/2014/04/21/326369.htm Mon, 21 Apr 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=326369 The Nebraska Supreme Court upheld the finding of a lower court that a crop insurance agent breached the terms of her contract with a former employer when she went to work for another agency. However, in First Express Services Group Inc. …

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Gerhart: U.S. Has a Good Story to Tell at the Global Insurance Symposium http://www.insurancejournal.com/news/midwest/2014/04/17/326764.htm Thu, 17 Apr 2014 19:19:45 +0000 http://www.insurancejournal.com/?p=326764 The state of Iowa on May 20-22, 2014, will host its first ever Global Insurance Symposium, a privately funded event that aims to bring insurance professionals and regulators from around the world together to discuss the challenges facing the global …

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Oklahoma’s Workers’ Comp Administrative Redesign Takes Effect http://www.insurancejournal.com/news/southcentral/2014/04/10/325983.htm Thu, 10 Apr 2014 16:32:31 +0000 http://www.insurancejournal.com/?p=325983 The transition of Oklahoma’s workers’ compensation system from a court-based system to an administrative one became effective Feb. 1, 2014, a change that proponents believe will lower costs and help make the state more competitive in attracting businesses. In May …

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Nebraska Court: Agent Breached Contract but Client List Not a Trade Secret http://www.insurancejournal.com/news/midwest/2014/04/08/325777.htm Tue, 08 Apr 2014 16:30:53 +0000 http://www.insurancejournal.com/?p=325777 The Nebraska Supreme Court recently upheld the finding of a lower court that a crop insurance agent breached the terms of her contract with a former employer when she went to work for another agency. However, in First Express Services …

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Workers’ Compensation Fraud and the Insurance Producer http://www.insurancejournal.com/news/southcentral/2014/03/24/324275.htm Mon, 24 Mar 2014 20:01:42 +0000 http://www.insurancejournal.com/?p=324275 There are essentially two types of workers’ compensation fraud — premium fraud and claimant fraud — and insurance producers can play a role in the discovery and resolution of both, according to one investigator who has brought some 800 cases of workers’ comp fraud …

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Michigan Congresswoman Miller: Flood Insurance Bill Bad for State http://www.insurancejournal.com/magazines/features/2014/03/24/323866.htm Mon, 24 Mar 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=323866 A U.S. Congresswoman from Michigan wants her state to opt out of the National Flood Insurance Program, saying it’s not good for Michigan homeowners. U.S. Representative Candice Miller (MI-10) voted against H.R. 3370, the Homeowner Flood Insurance Affordability Act, which passed …

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A Buyer’s Market for Reinsurance http://www.insurancejournal.com/magazines/features/2014/03/10/322480.htm Mon, 10 Mar 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=322480 For insurance companies, now is a good time to buy reinsurance. Prices are down and terms and conditions are favorable, according to Mathew Wulf, vice president, state relations and assistant general counsel, for the Reinsurance Association of America. All in …

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Effort to Put House in Order Paying Off: Meadowbrook Insurance CEO http://www.insurancejournal.com/magazines/features/2014/03/10/322503.htm Mon, 10 Mar 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=322503 Meadowbrook Insurance Group, based in Southfield, Mich., has struggled with many challenges during the past couple of years but the “strong remedial measures” implemented to correct unacceptable results are working, its chief executive said. In a Feb. 19 conference call …

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U.S. Congresswoman: Flood Insurance Bill Bad for Michigan http://www.insurancejournal.com/news/midwest/2014/03/05/322269.htm Wed, 05 Mar 2014 16:46:13 +0000 http://www.insurancejournal.com/?p=322269 A U.S. Congresswoman from Michigan wants her state to opt out of the National Flood Insurance Program, saying it’s not good for Michigan homeowners. U.S. Representative Candice Miller (MI-10) voted against H.R. 3370, the Homeowner Flood Insurance Affordability Act, which …

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Effort to Put House in Order Paying Off: Meadowbrook Insurance CEO http://www.insurancejournal.com/news/midwest/2014/02/26/321627.htm Wed, 26 Feb 2014 21:30:59 +0000 http://www.insurancejournal.com/?p=321627 Meadowbrook Insurance Group, based in Southfield, Mich., has struggled with many challenges during the past couple of years but the “strong remedial measures” implemented to correct unacceptable results are working, its chief executive said. In a Feb. 19 conference call …

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Administrative Changes Proposed for Texas Workers’ Compensation System http://www.insurancejournal.com/magazines/features/2014/02/24/320818.htm Mon, 24 Feb 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=320818 Adoption of NCCI Manual Would Be Effective June 1 Texas will be privatizing many functions in its workers’ compensation system if a proposal to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, and the national and Texas-specific endorsements …

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Texas Likely to Become an ‘NCCI State’ for Workers’ Comp; Question Is – When? http://www.insurancejournal.com/news/southcentral/2014/02/20/321121.htm Thu, 20 Feb 2014 17:49:37 +0000 http://www.insurancejournal.com/?p=321121 Texas will be privatizing many functions in its workers’ compensation system if a staff petition to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, and the national and Texas-specific endorsements and forms in the NCCI …

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Study Looks at Options to Depopulate Texas Coastal Wind Insurer http://www.insurancejournal.com/news/southcentral/2014/02/13/320464.htm Fri, 14 Feb 2014 02:34:09 +0000 http://www.insurancejournal.com/?p=320464 Loss exposure for Texas’ wind and hail insurer of last resort along the coast increased by around 319 percent between 2005 and 2012 – from $23.26 billion to $74.17 billion, and its policy count grew by approximately 243 percent – …

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Scottsdale’s Miller: E&S Market Stable with Moderate Growth in 2013 http://www.insurancejournal.com/news/southcentral/2014/02/10/320030.htm Mon, 10 Feb 2014 17:42:33 +0000 http://www.insurancejournal.com/?p=320030 The excess and surplus lines insurance industry was in a good place last year, characterized by a stable market and moderate growth, according to one executive who is bullish on the sector. “I think the E&S market is the market …

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Study Looks at Options to Depopulate Texas Coastal Wind Insurer http://www.insurancejournal.com/magazines/features/2014/02/10/319422.htm Mon, 10 Feb 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=319422 Loss exposure for Texas’ wind and hail insurer of last resort along the coast increased by around 319 percent between 2005 and 2012 – from $23.26 billion to $74.17 billion, and its policy count grew by approximately 243 percent – …

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Super Bowl Madness: Insuring Kick-Offs, Touchdowns and More http://www.insurancejournal.com/news/national/2014/01/31/319028.htm Fri, 31 Jan 2014 16:47:35 +0000 http://www.insurancejournal.com/?p=319028 When it comes to contests, promotions and prizes, the Super Bowl hasn’t always been kind to Dallas-based SCA Promotions. Over the past decade, the prize/promotion insurer has paid out more years than not on contests related to football’s greatest game. …

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Case Before Ohio Court May Impact Future Coverage for Fracking Liability http://www.insurancejournal.com/news/midwest/2014/01/27/318565.htm Tue, 28 Jan 2014 03:52:19 +0000 http://www.insurancejournal.com/?p=318565 The oil drilling technique known as hydraulic fracturing, or fracking, has been blamed – rightly or wrongly – for various hazards ranging from earthquakes to water pollution. While the technique has generated a lot of media attention, so far there …

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Case Before Ohio Court May Impact Future Coverage for Fracking Liability http://www.insurancejournal.com/magazines/features/2014/01/27/317821.htm Mon, 27 Jan 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=317821 The oil drilling technique known as hydraulic fracturing, or fracking, has been blamed – rightly or wrongly – for various hazards ranging from earthquakes to water pollution. While the technique has generated a lot of media attention, so far there …

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Surplus Lines in 2013: A Stable Market with Moderate Growth http://www.insurancejournal.com/magazines/features/2014/01/27/317868.htm Mon, 27 Jan 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=317868 The Trend Is Expected to Continue The excess and surplus lines insurance industry was in a good place last year, characterized by a stable market and moderate growth, according to one executive who is bullish on the sector. “I think …

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TWIA Panel Studying Methods to Assess Wind/Water Property Loss http://www.insurancejournal.com/magazines/features/2014/01/27/317869.htm Mon, 27 Jan 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=317869 A panel studying methods to assess property loss incurred as a result of wind versus water forces along the Texas coast expects to have the first of four study components ready for consideration in February. The mission of the Texas Windstorm Insurance Association …

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Portrait of an Employee Fraudster http://www.insurancejournal.com/news/midwest/2014/01/23/317956.htm Thu, 23 Jan 2014 06:46:04 +0000 http://www.insurancejournal.com/?p=317956 Fraud Schemes Depend on Opportunity, Incentive, Rationalization It may come as a surprise to some that the typical fraudster in the workplace is not the bad-attitude ne’er-do-well that slinks off into the corner when faced with new responsibilities and additional …

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Tip Hotlines Are Effective in Preventing, Detecting Employee Fraud http://www.insurancejournal.com/magazines/features/2014/01/13/316357.htm Mon, 13 Jan 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=316357 Most occupational frauds are discovered by an anonymous tip, experts say, and fraud reporting mechanisms such as hotlines are encouraged as effective means of uncovering and discouraging employee fraud. The Association of Certified Fraud Examiners (ACFE) recommends that hotlines should …

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Portrait of an Employee Fraudster http://www.insurancejournal.com/magazines/features/2014/01/13/316334.htm Mon, 13 Jan 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=316334 Schemes Depend on Opportunity, Incentive, Rationalization It may come as a surprise to some that the typical fraudster in the workplace is not the bad-attitude ne’er-do-well that slinks off into the corner when faced with new responsibilities and additional tasks. …

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TWIA Expert Panel Working on Methods to Assess Wind/Water Property Loss http://www.insurancejournal.com/news/southcentral/2014/01/10/316608.htm Fri, 10 Jan 2014 16:54:24 +0000 http://www.insurancejournal.com/?p=316608 A panel studying methods to assess property loss incurred as a result of wind versus water forces along the Texas coast expects to have the first of four study components ready for consideration next month. The mission of the Texas …

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Texas Windstorm Insurance Association Disavows Racism Allegations http://www.insurancejournal.com/news/southcentral/2013/12/16/314627.htm Mon, 16 Dec 2013 20:08:17 +0000 http://www.insurancejournal.com/?p=314627 Texas’ insurer of last resort in coastal areas has denied allegations that a culture of racism has existed within the organization. Responding to claims by a Houston-based trial lawyer that employees of the Texas Windstorm Insurance Association often used racist …

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Immediate Notice Required, Euthanasia Allowed in Equine Mortality Policies http://www.insurancejournal.com/news/midwest/2013/12/03/312541.htm Tue, 03 Dec 2013 06:16:54 +0000 http://www.insurancejournal.com/?p=312541 The main difference between livestock, or equine, mortality insurance and human life insurance is that a livestock owner, subject to certain conditions, may sometimes euthanize the animal and still collect policy proceeds, according to an attorney whose practice includes a …

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Commissioner Denies TWIA’s Request to Raise Liability Limits http://www.insurancejournal.com/magazines/features/2013/12/02/312359.htm Mon, 02 Dec 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=312359 The primary windstorm insurer for Texas coastal properties won’t be raising limits of liability next year for property it covers. Insurance Commissioner Julia Rathgeber has denied a request by the Texas Windstorm Insurance Association to raise the limits on both …

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Immediate Notice Required, Euthanasia Allowed in Equine Mortality Policies http://www.insurancejournal.com/magazines/features/2013/12/02/312363.htm Mon, 02 Dec 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=312363 The main difference between livestock, or equine, mortality insurance and human life insurance is that a livestock owner, subject to certain conditions, may sometimes euthanize the animal and still collect policy proceeds, according to an attorney whose practice includes a …

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Immediate Notice Required, Euthanasia Allowed in Equine Mortality Policies http://www.insurancejournal.com/magazines/features/2013/11/18/311012.htm Mon, 18 Nov 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=311012 The main difference between livestock, or equine, mortality insurance and human life insurance is that a livestock owner, subject to certain conditions, may sometimes euthanize the animal and still collect policy proceeds, according to a Michigan-based attorney whose practice includes …

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