Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 01 Aug 2014 10:59:50 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 Allied World Europe Expands Professional Liability Team http://www.insurancejournal.com/news/international/2014/08/01/336474.htm Fri, 01 Aug 2014 10:42:26 +0000 http://www.insurancejournal.com/?p=336474 Allied World Assurance Company Holdings, AG announced that Allied World Europe has expanded its professional liability team with the addition of two new vice presidents, Alec Goodair as Vice President, European Financial Institutions and Nicholas Lee as Vice President, European …

The article Allied World Europe Expands Professional Liability Team appeared first on Insurance Journal.

]]>
Minova Insurance Launches BMS Capital Advisory http://www.insurancejournal.com/news/international/2014/08/01/336472.htm Fri, 01 Aug 2014 10:38:29 +0000 http://www.insurancejournal.com/?p=336472 UK-based Minova Insurance Holdings announced the launch of BMS Capital Advisory, a broker-dealer registered with the SEC and a member of both the UK’s Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). BMS Capital Advisory is an …

The article Minova Insurance Launches BMS Capital Advisory appeared first on Insurance Journal.

]]>
India Landslide May Leave No Survivors as Death Toll Rises to 61 http://www.insurancejournal.com/news/international/2014/08/01/336470.htm Fri, 01 Aug 2014 10:33:40 +0000 http://www.insurancejournal.com/?p=336470 The death toll from a landslide triggered by torrential rains this week in India’s western Maharashtra state rose to 61 with 110 missing people feared dead, a government official said. Among the dead were 10 children, Ganesh Patil, additional district …

The article India Landslide May Leave No Survivors as Death Toll Rises to 61 appeared first on Insurance Journal.

]]>
Direct Line in Talks to Sell Italy, Germany Units; Shares Surge http://www.insurancejournal.com/news/international/2014/08/01/336467.htm Fri, 01 Aug 2014 10:30:03 +0000 http://www.insurancejournal.com/?p=336467 Direct Line Insurance Group Plc, the U.K.’s biggest home and motor insurer, said it was in talks to sell its units in Germany and Italy. The shares climbed the most since its initial public offering in October 2012. The discussions …

The article Direct Line in Talks to Sell Italy, Germany Units; Shares Surge appeared first on Insurance Journal.

]]>
AXA First-Half Profit Rose 22%, Led by Life & Savings Unit http://www.insurancejournal.com/news/international/2014/08/01/336465.htm Fri, 01 Aug 2014 10:26:44 +0000 http://www.insurancejournal.com/?p=336465 AXA SA, France’s largest insurer, said first-half profit rose 22 percent, buoyed by improved earnings from selling life insurance and savings products. Net income rose to €3 billion ($4 billion) from €2.47 billion [$3.3 billion] in the previous year, the …

The article AXA First-Half Profit Rose 22%, Led by Life & Savings Unit appeared first on Insurance Journal.

]]>
Allianz Poised to Reappoint Diekmann as CEO, but Considering Successors http://www.insurancejournal.com/news/international/2014/08/01/336463.htm Fri, 01 Aug 2014 10:21:58 +0000 http://www.insurancejournal.com/?p=336463 Allianz is poised to reappoint Michael Diekmann as chief executive in October, investors believe, possibly delaying tough choices on whether Europe’s largest insurer expands its global presence or returns more cash to shareholders. The German group has grown to become …

The article Allianz Poised to Reappoint Diekmann as CEO, but Considering Successors appeared first on Insurance Journal.

]]>
Braxton President of The Buckner Co.’s New Colorado Office http://www.insurancejournal.com/news/west/2014/07/31/336409.htm Thu, 31 Jul 2014 23:44:50 +0000 http://www.insurancejournal.com/?p=336409 The Buckner Co. has opened new Denver, Colo. office and named Keith Braxton president. As head of the Salt Lake City, Utah-based commercial insurance brokerage’s Colorado office, Braxton is charged with recruiting talent, building the company’s brand in the market and …

The article Braxton President of The Buckner Co.’s New Colorado Office appeared first on Insurance Journal.

]]>
Cat Modeler’s Sharknado Model Follows Campy SyFy Sequel http://www.insurancejournal.com/news/national/2014/07/31/336363.htm Thu, 31 Jul 2014 18:38:17 +0000 http://www.insurancejournal.com/?p=336363 Editor’s note: Wednesday night’s premier of “Sharknado 2: The Second One” on the SyFy Channel followed last year’s corny flick, which lit up Twitter with praise and insults for its camp and B-grade acting. The product placement-laden, cameo-heavy sequel pitted …

The article Cat Modeler’s Sharknado Model Follows Campy SyFy Sequel appeared first on Insurance Journal.

]]>
Anthony to Direct Government Affairs at Insurance Institute http://www.insurancejournal.com/news/midwest/2014/07/31/336351.htm Thu, 31 Jul 2014 16:59:05 +0000 http://www.insurancejournal.com/?p=336351 The Ohio Insurance Institute (OII) announced it has hired Jeff Anthony to direct its legislative and regulatory initiatives. Anthony most recently worked at the Ohio Department of Aging as a legislative liaison and previously worked in the Ohio House as …

The article Anthony to Direct Government Affairs at Insurance Institute appeared first on Insurance Journal.

]]>
20K Maine Residents to Get Health Insurance Premium Rebates http://www.insurancejournal.com/news/east/2014/07/31/336321.htm Thu, 31 Jul 2014 16:58:24 +0000 http://www.insurancejournal.com/?p=336321 Nearly 20,000 Maine customers of health insurer Aetna are getting premium rebates because a provision in the Affordable Care Act limits what insurance companies can spend on administrative costs. The rebates for 2013 service, totaling more than $1.8 million, will …

The article 20K Maine Residents to Get Health Insurance Premium Rebates appeared first on Insurance Journal.

]]>
Illinois Warns Insurers of Ban on Transgender Discrimination http://www.insurancejournal.com/news/midwest/2014/07/31/336348.htm Thu, 31 Jul 2014 16:56:51 +0000 http://www.insurancejournal.com/?p=336348 The state of Illinois has cautioned insurers about discriminating against transgender people. The Illinois Department of Insurance bulletin issued to insurers this week details nondiscrimination provisions in the federal Affordable Care Act along with Illinois laws. Backers say the move …

The article Illinois Warns Insurers of Ban on Transgender Discrimination appeared first on Insurance Journal.

]]>
A.M. Best: Outlook Stable for Wisconsin Mutual Insurance http://www.insurancejournal.com/news/midwest/2014/07/31/336346.htm Thu, 31 Jul 2014 16:55:29 +0000 http://www.insurancejournal.com/?p=336346 A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Wisconsin Mutual Insurance Co. (WMIC), based in Madison. The ratings reflect WMIC’s solid capitalization, favorable balance …

The article A.M. Best: Outlook Stable for Wisconsin Mutual Insurance appeared first on Insurance Journal.

]]>
Louisiana Agent Booked with 29 Counts of Insurance Fraud http://www.insurancejournal.com/news/southcentral/2014/07/31/336344.htm Thu, 31 Jul 2014 16:53:51 +0000 http://www.insurancejournal.com/?p=336344 Louisiana State Police have booked a 58-year-old West Monroe man with 29 counts of insurance fraud and one count of theft. Trooper Albert Paxton tells The News-Star that John Whittington, a licensed insurance agent, allegedly obtained insurance premiums in cash …

The article Louisiana Agent Booked with 29 Counts of Insurance Fraud appeared first on Insurance Journal.

]]>
Copper Wire Thieves Hit Oklahoma City, Knock Out Street Lights http://www.insurancejournal.com/news/southcentral/2014/07/31/336340.htm Thu, 31 Jul 2014 16:51:07 +0000 http://www.insurancejournal.com/?p=336340 Oklahoma City police say they’re investigating the largest copper wire heist that’s ever happened in the city. Drivers were left in the dark after thieves cut down copper wires from traffic signals and light poles this past weekend. Police Cpt. …

The article Copper Wire Thieves Hit Oklahoma City, Knock Out Street Lights appeared first on Insurance Journal.

]]>
Selective Insurance’s Q2 Profit Rises 8% to $29M http://www.insurancejournal.com/news/east/2014/07/31/336333.htm Thu, 31 Jul 2014 16:50:39 +0000 http://www.insurancejournal.com/?p=336333 Selective Insurance Group in Branchville, New Jersey, reported its 2014 second quarter net profit rose to $29.341 million, up 8.2 percent from $27.122 million profit during last year’s second quarter. Total net premiums written (NPW) for the second quarter rose …

The article Selective Insurance’s Q2 Profit Rises 8% to $29M appeared first on Insurance Journal.

]]>
Shrout Joins IFG Cos. as Managing Director — Bind http://www.insurancejournal.com/news/national/2014/07/31/336338.htm Thu, 31 Jul 2014 16:48:57 +0000 http://www.insurancejournal.com/?p=336338 IFG Cos. has added Andrew M. Shrout as managing director for its bind insurance business. Shrout will be based in Chicago and Atlanta, and will be a member of the bind leadership team that establishes and implements the new strategy …

The article Shrout Joins IFG Cos. as Managing Director — Bind appeared first on Insurance Journal.

]]>
Dhandho Acquiring Louisiana’s Stonetrust Commercial Mutual Insurance http://www.insurancejournal.com/news/southcentral/2014/07/31/336332.htm Thu, 31 Jul 2014 16:44:18 +0000 http://www.insurancejournal.com/?p=336332 Stonetrust Commercial Mutual Insurance Holding Co. announced it has agreed to be acquired by Dhandho Holdings LP and Dhandho Holdings Qualified Purchaser LP, based in Irvine, Calif. Stonetrust is a Louisiana-based mutual insurance holding company and the parent company of …

The article Dhandho Acquiring Louisiana’s Stonetrust Commercial Mutual Insurance appeared first on Insurance Journal.

]]>
Arthur J. Gallagher Acquires Benefits Brokerage, Insurance Point http://www.insurancejournal.com/news/midwest/2014/07/31/336329.htm Thu, 31 Jul 2014 16:40:43 +0000 http://www.insurancejournal.com/?p=336329 Itasca, Ill.-based Arthur J. Gallagher & Co. has acquired Insurance Point LLC in St. Charles, Ill. and Salt Lake City, Utah.  Terms of the transaction were not disclosed. Insurance Point offers employee benefit consultation and insurance brokerage services for healthcare systems and hospitals throughout …

The article Arthur J. Gallagher Acquires Benefits Brokerage, Insurance Point appeared first on Insurance Journal.

]]>
Troubled California Refinery Slated for Overhaul http://www.insurancejournal.com/news/west/2014/07/31/336328.htm Thu, 31 Jul 2014 16:37:36 +0000 http://www.insurancejournal.com/?p=336328 Leaders of a San Francisco Bay Area city approved a $1 billion upgrade of Chevron’s troubled 1960s-era oil refinery, the largest in Northern California, after the company agreed to safety and piping upgrades and greater community investment, a newspaper reported. …

The article Troubled California Refinery Slated for Overhaul appeared first on Insurance Journal.

]]>
American Modern Names Alaniz VP of Sales in West http://www.insurancejournal.com/news/west/2014/07/31/336322.htm Thu, 31 Jul 2014 16:13:38 +0000 http://www.insurancejournal.com/?p=336322 American Modern Insurance Group named Elvia Alaniz vice president of the sales west region. Alaniz has more than 18 years of insurance experience in marketing, underwriting and sales. She previously served as director of marketing for American Modern and assistant …

The article American Modern Names Alaniz VP of Sales in West appeared first on Insurance Journal.

]]>
Vermont Town Sees Worst Flooding Since Irene http://www.insurancejournal.com/news/east/2014/07/31/336319.htm Thu, 31 Jul 2014 15:57:35 +0000 http://www.insurancejournal.com/?p=336319 The fire chief in Chester, Vermont, said more than 3 inches of rain fell on his community creating the worst flooding since Tropical Storm Irene hit Vermont almost three years ago. Chief Matthew Wilson said the Monday flooding was “bad …

The article Vermont Town Sees Worst Flooding Since Irene appeared first on Insurance Journal.

]]>
Hartford’s Q2 Core Earnings Decline 38% to $144M; Net Loss Widens http://www.insurancejournal.com/news/national/2014/07/31/336302.htm Thu, 31 Jul 2014 15:33:09 +0000 http://www.insurancejournal.com/?p=336302 The Hartford Financial Services Group said Wednesday its 2014 second quarter net loss widened to $467 million, compared to a net loss of $190 million during last year’s second quarter. The results were hit by $617 million of loss on …

The article Hartford’s Q2 Core Earnings Decline 38% to $144M; Net Loss Widens appeared first on Insurance Journal.

]]>
Obama Climate Rules Unpopular in GOP South http://www.insurancejournal.com/news/southeast/2014/07/31/336308.htm Thu, 31 Jul 2014 15:03:05 +0000 http://www.insurancejournal.com/?p=336308 In the Republican-heavy Southeast, critics said this week that a plan by President Barack Obama’s administration to cut pollution would raise electricity prices, result in job losses and may not significantly curtail the carbon emissions blamed for global warming. The …

The article Obama Climate Rules Unpopular in GOP South appeared first on Insurance Journal.

]]>
SCI Underwriting Management Launches Four New Products for Aging Service Industry http://www.insurancejournal.com/news/national/2014/07/31/336307.htm Thu, 31 Jul 2014 15:01:36 +0000 http://www.insurancejournal.com/?p=336307 SCI Underwriting Management, LLC, a managing insurance agency with a focus on the aging service industry, has launched four new products for the segment: property (ultimate cover); nursing home auto coverage; crime coverage form PI-ULT-009; and nursing home cyber security …

The article SCI Underwriting Management Launches Four New Products for Aging Service Industry appeared first on Insurance Journal.

]]>
Chemcial Plants with Terrroism Risk ‘Effectively Unregulated,’ Says Senate Report http://www.insurancejournal.com/news/national/2014/07/31/336303.htm Thu, 31 Jul 2014 14:52:22 +0000 http://www.insurancejournal.com/?p=336303 The government has failed to inspect virtually all of the chemical facilities that it considers to be at a higher risk for a terror attack and has underestimated the threat to densely populated cities, congressional investigators say. The year-long investigation …

The article Chemcial Plants with Terrroism Risk ‘Effectively Unregulated,’ Says Senate Report appeared first on Insurance Journal.

]]>
Florida Doctors, Health Firms to Appeal ‘Docs vs. Glock’ Gun Speech Law http://www.insurancejournal.com/news/southeast/2014/07/31/336298.htm Thu, 31 Jul 2014 14:45:51 +0000 http://www.insurancejournal.com/?p=336298 Doctors and health care providers challenging a Florida gun law say they will appeal a recent decision to uphold the measure. A federal appeals court last week ruled that the law restricting what doctors can tell patients about gun ownership …

The article Florida Doctors, Health Firms to Appeal ‘Docs vs. Glock’ Gun Speech Law appeared first on Insurance Journal.

]]>
Allstate Q2 Profit Up 49% http://www.insurancejournal.com/news/national/2014/07/31/336237.htm Thu, 31 Jul 2014 13:30:02 +0000 http://www.insurancejournal.com/?p=336237 Allstate Corp. reported its second quarter profit rose 49 percent due to higher premiums and despite higher catastrophe losses. Net income rose to $645 million, up from $434 million for the same quarter last year. Property/casualty premiums were up for …

The article Allstate Q2 Profit Up 49% appeared first on Insurance Journal.

]]>
NLRB’s McDonald’s Ruling Raising Liability Concerns for Franchise Operators http://www.insurancejournal.com/news/national/2014/07/31/336235.htm Thu, 31 Jul 2014 12:48:09 +0000 http://www.insurancejournal.com/?p=336235 Under Democratic President Barack Obama, the U.S. National Labor Relations Board has been taking a stance on workplace relations that has employers, industry groups and Republican lawmakers voicing alarm. NLRB General Counsel Richard Griffin announced on Tuesday that McDonald’s, not …

The article NLRB’s McDonald’s Ruling Raising Liability Concerns for Franchise Operators appeared first on Insurance Journal.

]]>
The Hartford Fires Executive After Comment on Herbalife http://www.insurancejournal.com/news/national/2014/07/31/336230.htm Thu, 31 Jul 2014 10:43:40 +0000 http://www.insurancejournal.com/?p=336230 Hartford Financial Services Group Inc. fired an executive after he made comments critical of Herbalife Ltd. to the media. William Kelly, who was a vice president in the directors and officers division at the Hartford, Connecticut-based insurer, was terminated last …

The article The Hartford Fires Executive After Comment on Herbalife appeared first on Insurance Journal.

]]>
House Votes to Proceed with Lawsuit Against Obama http://www.insurancejournal.com/news/national/2014/07/31/336228.htm Thu, 31 Jul 2014 10:37:10 +0000 http://www.insurancejournal.com/?p=336228 The Republican-led U.S. House of Representatives voted to sue President Barack Obama’s administration over implementation of his 2010 health-care law. With a near-party-line vote of 225-201, lawmakers endorsed Speaker John Boehner’s plan to file a lawsuit contending the president couldn’t …

The article House Votes to Proceed with Lawsuit Against Obama appeared first on Insurance Journal.

]]>