National News

ESIS Launches Healthcare Industry Risk Management Practice

ESIS, Inc., Chubb’s risk management services division, has launched a new industry practice dedicated to serving the claims and risk management needs of healthcare organizations and life sciences firms. The ESIS Healthcare Industry Practice includes a full range of claims …

Liberty International Underwriters Launches Auto Parts Recall Policy

Liberty International Underwriters, part of Liberty Mutual Insurance, has launched an Automotive Components Product Recall Policy designed to cover first and third party recall expenses. The policy coverage encompasses critical, noncritical and after-market parts with limits of $5 million primary and …

PBS/NPR Documentary Adds to Criticism of Private Insurers, FEMA Over Profits on Flood Insurance

Private insurance companies working for the government’s flood insurance program have made hundreds of millions of dollars at the same time that thousands of homeowners are claiming they have been underpaid for damage caused by Superstorm Sandy, according to a …

FEMA Vows Changes to Flood Insurance Claims Appeals

After learning some hard lessons from Superstorm Sandy, the Federal Emergency Management Agency says it is reforming the way it handles appeals from disgruntled policyholders in the National Flood Insurance Program. The October 2012 storm, spawned when Sandy merged with …

Allstate Debuts Insurance Coverage for Homeowners Sharing Their Homes

In a move to serve customers who rent out their homes on a temporary basis, Allstate has filed plans to offer home-sharing protection in six states — Arizona, Colorado, Illinois, Michigan, Tennessee and Utah — starting in mid-August. Allstate says …

Report Calls Out Insurers for Half-a-Trillion Dollars in ‘Dirty Energy’ Investments

Leading U.S. insurers have nearly half-a-trillion dollars invested the fossil fuel energy and the electric and gas utility sectors, according to a report out today that urges state insurance regulators and board members of these companies to help move them …

3 Baldwin & Lyons Senior Execs Resign; CEO Cites Differences with Chairman; New CEO Named

Three senior executives of specialty transportation insurer Baldwin & Lyons have abruptly retired and the insurer said it has retained independent legal counsel to review issues raised by their departures. For now, the Indiana-based company is disclosing few details about …

Appeals Court Throws Out $1.27B Fraud Penalty Against Bank of America Mortgage Unit

A U.S. appeals court on Monday threw out a jury’s finding that Bank of America Corp. was liable for mortgage fraud leading up to the 2008 financial crisis, voiding a $1.27 billion penalty and dealing the U.S. Department of Justice …

Program Administrator SIS Appointed Lloyd’s Coverholder

Safebuilt Insurance Services, Inc., dba SIS Wholesale Insurance Services, a national commercial lines program administrator, has been appointed as a Lloyd’s coverholder. The coverholder undertaking allows SIS to access Lloyd’s syndicates directly, and expands the company’s overall capability to deliver …

Labor Unions Searching for Strategies to Join the Gig Economy

The International Association of Machinists and Aerospace Workers trumpeted an agreement reached earlier this month to represent New York Uber drivers, saying it “gives organized labor an opportunity to shape the new economy in a way that supports and values …

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