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Daily Headlines
April 29, 2016
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Today's Headlines

National

Large Insurers Eager But Cautious About Drone Insurance Market

A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone ...

The Hartford Profit Fell 30% in Q1 Due to Higher Auto Losses, Lower Investment Income

The Hartford reported disappointing personal lines result for the first quarter of the year, which along with decreased investment income ...

How Model for Preventing Workers' Chronic Pain Claims Was Born

In response to rising chronic pain claims, Travelers announced the development of a new patent-pending predictive model designed to ...

Young Consumers More Trusting of Autonomous Vehicles: J.D. Power

Trust in automation technology including driverless cars is very much age dependent, as younger consumers have a notably higher level of ...

Why People Overestimate the Risk of Black Swan Events

In his 2007 book "The Black Swan: The Impact of the Highly Improbable," finance writer Nassim Nicholas Taleb attempted to educate the ...

QBE North America Promotes Burkhart to Head of Specialty Management, Professional Liability

QBE North America has promoted John Burkhart to senior vice president and head of Management Liability & Professional Lines (MLPL). In this ...

Climate Change and The Conservative Republican

If you're a conservative Republican, there's a decent chance that you believe in climate change. Compared with two years ago that is. Don't ...

From MyNewMarkets.com Growth in Cyber Coverage Expected as Underwriting Evolves

With cyber insurance premiums expected to grow from around $2 billion in 2015 to an estimated $20 billion or more by 2025, insurers and...
Carrier Management

Carrier-Distributor Tensions Flare: Berkley

A dislocation in the insurance marketplace that is similar to one that developed in the wake of the global financial...
East

Delaware Fines Insurers $83K for Market Misconduct

The Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 ...

Virginia Sets Up Fund to Cope With Sea-Level Rise

Virginia has set up a new revolving loan fund designed to help property owners prepare for rising sea levels. But the Virginian-Pilot ...

New York: Health Insurers Must Pay for Maternal Depression Screening

New York state will soon require health insurers to cover depression screening for pregnant women and new mothers. The move follows a ...

Kinsale Insurance Hires Manahan to Lead E&S Property in Virginia

Kinsale Insurance Company, a domestic excess and surplus lines insurance company based in Richmond, Virginia, has hired Stephen Manahan as ...

Vermont Mutual Promotes McDonnell to Executive VP, COO

Vermont Mutual Insurance Group has promoted Mark J. McDonnell to executive vice president and chief operating officer of the Group. ...
Midwest

Chicago Jury Awards $22.7M to Widow for Work Zone Crash that Killed Spouse

The widow of a motorist who was killed when a speeding truck slammed into his car while he was stopped in an Illinois construction zone has ...

$1M Settlement Reached with Building Owners in Fatal Illinois Apartment Fire

Relatives of six people who perished five years ago in an apartment building fire in suburban Chicago have reached a $1 million legal ...

Illinois Volunteer Firefighter Accused of Starting Fires with Cigarettes

A 20-year-old northern Illinois volunteer firefighter accused of starting five fires allegedly tossed lit cigarettes to spark at least two ...

Lockton Benefit Group Adds Leopold as Chief Medical Officer

Lockton Benefit Group, based in Kanas City, Mo., has added Dr. Ronald S. Leopold to its national Lockton Health Risk Solutions practice. ...
Southeast

Florida Picks Deputy Altmaier to Be Next Insurance Commissioner

The Florida Cabinet has selected David Altmaier to be the state's new insurance commissioner. Altmaier, 34, is currently a deputy ...

Florida Braces for Rate Hikes, Litigation Due to Workers' Compensation Fee Ruling

The Florida Supreme Court's ruling that the state's current attorney fee limits are unconstitutional will have serious ramifications on the ...

Alabama Medical Marijuana Bill Headed to Governor

The Alabama legislature on Wednesday voted to decriminalize medicinal marijuana oil possession. In a 95-4 vote in the House of ...

Florida's Universal Insurance Holdings Raises $10M in Share Sale

Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. ...

West Virginia Doctor Gets 8 Years in Drug, Health Care Fraud Case

A pain clinic doctor in Beckley, West Virginia, has been sentenced to eight years in federal prison for illegally prescribing a controlled ...

Florida Supreme Court Finds Attorney Fee Schedule Unconstitutional; Passes on Other Key Workers' Comp Case

The Florida Supreme Court has ruled that the state's mandatory attorneys' fee schedule for workers' compensation cases is unconstitutional ...
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South Central

Oklahoma Ex-Reserve Deputy, Insurance Exec Convicted in Suspect's Death

A former Oklahoma volunteer sheriff's deputy who said he mistook his handgun for his stun gun when he fatally shot an unarmed suspect last ...

Oklahoma Commissioner to Insurers: Pay Roof Repairs that Meet Building Codes

In the midst of storm season, the Oklahoma Insurance Department (OID) is reminding insurance companies to cover roof repairs that meet ...

Texas Mutual Awards $600K in College Education Grants

Texas Mutual Insurance Co. announced it has awarded a combined $600,000 in grants to College of the Mainland in Texas City, Del Mar College ...

Houston Bakery to Pay $1M to Settle Race, National Origin Discrimination Suit

A large bakery in Houston will pay $1,042,000 as part of the settlement of a class race and national origin discrimination lawsuit brought ...
West

Alaska Assisted Living Home Faces $75K Fine for Workplace Death

State labor officials have fined an Anchorage assisted living home $75,000 for alleged safety and health violations in the death of a ...

Residents' Group: Honolulu Rail Project at Risk for Flood Damage

A group of residents is prepared to take Honolulu officials to court over the city's multi-billion-dollar rail project because of concerns ...

Police in Nevada Ticket 75 Distracted Drivers During 3-Week Blitz

Henderson, Nev., police say officers looking for distracted drivers during a three-week enforcement blitz ticketed 75 motorists for ...

EPIC's McNeil Named to California Water JPA Risk Management Board

David McNeil, a principal in the EPIC Insurance Brokers and Consultants' Inland Empire division, has been appointed to the advisory board ...
International

Hackers in Bangladesh Bank Cyber Heist Pocketed About $70M; NY Fed Criticized

Hackers are likely to get away with about $70 million of Bangladesh's foreign reserves after a brazen cyber-attack against the South Asian ...

Swiss Re Q1 Net Income Down 15% to $1.23B; New Head of Reinsurance Named

Swiss Re AG, the world's biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the ...

Aon Reports 4% Drop in Q1 2016 Net Income to $315 Million

London-based Aon plc reported net income attributable to Aon shareholders of $315 million, or $1.15 per share, during the first quarter ...

HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced the introduction of TechAdvantage, its new ...

Zurich Canada Appoints Healey as Sr. VP, Distribution & Regional Management

Zurich Canada has appointed Patrick Healey as senior vice president, Distribution and Regional Management. Healey will be responsible for ...
Insurance Journal Blogs and Columns

Swine Flu, Avian Flu, Ebola, the Zika Virus and Workers' Compensation

Two tests must be satisfied before an illness or disease can be considered occupational and thus compensable under workers' compensation: ...

A Look into Nonprofit Risk Management

This post is part of a series sponsored by Charity First. Nonprofits experience a variety of risks in their daily operations. However, as ...

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Insurance Journal TV

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Big 'I' Legislative Conference: 2016 Issues

Robert Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America,...
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RIMS 2016: Study: Many Large Companies Still Unsure of Need for Cyber Coverage

Cyber insurance expert Stephanie Snyder, senior vice president for Aon Risk Solutions, says...

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New Discussions in the Forums

Farmers - your opinion
Posted: Fri Apr 29 -- justthere, I do not have a beef with Farmers. I try to only speak from the facts. Regarding my previous post about being able to write... lonestar
Social Media and its potential
Posted: Thu Apr 28 -- Now that Social Media plays a big part in search engine result pages, it indicates that businesses should use this to... socal401
Do you use online leads services?
Posted: Thu Apr 28 -- AgentofTN I wish you would tell us what company you are using. set appointments, pay when you close sounds like a dream. I would like to... ykaplinsky
Agent no legal duty to inform on cancellations?
Posted: Wed Apr 27 -- Great point, LisaTurcotte. The reality is, anybody can sue you at any time for practically any reason. That's why there's no clear answer to... phillers3
Commercial building with sprinklers
Posted: Tue Apr 19 -- I've found that protection class is the biggest factor. Realist
Agency Management System
Posted: Mon Apr 18 -- Small Agency rep with two offices, we do tax services and need a software to handle our insurance needs and store the info to be able to run... Insurance@Marshall

Reader Comments

Uber Hit With $11M Fine in Pennsylvania
Posted: Mon Apr 25 -- Ouch!! Dear Uber, when you thumb your nose at cease and desist notices and other regulations and then are "shocked" at the fines, it is... Hmmmmm
10 Things Young Insurance Agents Like, and Don't Like, About Their Jobs
Posted: Wed Apr 27 -- Ron, I recommend that you take another course and learn something about agency management instead of actuarial tables which are the scourge... Agent
Robot Cars Complain About Humans' Poor Roads, Lane Markings, Signage
Posted: Thu Apr 28 -- Let me guess, taxpayers need to shell out billions in infrastructure improvements so we can replace 3,500,000 professional truck drivers... ExciteBiker
Plaintiffs Suing Dating Site Ashley Madison Over Data Breach Must Identify Themselves: U.S. Judge
Posted: Mon Apr 25 -- You are nuts, Integrity. This has nothing to do with gender or restrooms, but hey Rush has been talking about it so everything is tied to it... UW
Fallout from Travelers CGL Cyber Ruling: Insurance Buyers and Sellers Beware
Posted: Mon Apr 25 -- "Buyers would be mistaken to think the ruling means that they do not need a cyber policy if they have a CGL policy and insurers might want... Dave

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