National News

A Look Back at 2016 Atlantic Hurricane Season

The 2016 Atlantic hurricane season concluded on Nov. 30 with 15 named storms generating seven hurricanes, three of which were considered major ones, according to the industry’s Insurance Information Institute (I.I.I.). The National Oceanic and Atmospheric Administration (NOAA) said it …

Supreme Court ‘Easily’ Settles Insider Trading Liability Question

For two years, stock traders and the attorneys who represent them said insider-trading law was a muddle, with no one knowing exactly what was or wasn’t legal. On Tuesday, the U.S. Supreme Court said it had “easily” settled the question. …

Insurance Crime Watchdog Reveals Mystery Device Used by Vehicle Thieves

Insurance crime investigators recently went on a crime spree, breaking into vehicles and stealing them. It was all part of an effort to draw attention to technology that the National Insurance Crime Bureau (NICB) says is being used to not …

Over-Compensating Data Breach Victims Can Backfire

Compensation in response to a data breach is most effective when it meets customers’ expectations for what is appropriate, according to a new study by information systems researchers at the University of Arkansas. Such data breaches encompass privacy, information and …

Gruber to Succeed Larson as President of Great American Insurance Co.

Gary J. Gruber has been promoted president and chief operating officer of Great American Insurance Co., effective January 1, 2017.  Gruber will become the seventeenth president in Great American’s 145-year history, assuming this title from Donald D. Larson, who recently …

Health Insurers Warm to Replacing Individual Mandate with Incentives

U.S. health insurers signaled Tuesday that they’re willing to give up a cornerstone provision of Obamacare that requires all Americans to have insurance, replacing it with a different set of incentives less loathed by Republicans who have promised to repeal …

Report Criticizes FAA Safety Oversight of Drones as Lax

U.S. aviation regulators approved commercial drone applications so quickly in recent years that they missed safety violations and took few enforcement actions, a government watchdog report concluded. The Federal Aviation Administration over a two-year span granted more than 5,500 exemptions …

Supreme Court Upholds Katrina Fraud Verdict Against State Farm

The Supreme Court on Tuesday handed a victory to two whistleblower sisters by upholding a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico …

Supreme Court Orders Refiguring of Samsung’s Damages in Patent Fight with Apple

The U.S. Supreme Court on Tuesday sided with Samsung in its big-money smartphone patent fight with Apple, throwing out an appeals court ruling that said the South Korean company had to pay a $399 million penalty to its American rival …

Verisk Teams with Driveway Software on Smartphone Telematics for Autos

Property/casualty insurance data supplier Verisk Insurance Solutions has formed a strategic alliance with Silicon Valley’s Driveway Software to jointly develop a smartphone telematics product for automakers, insurers and drivers. The product will combine the Driveway smartphone telematics platform for data …

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