Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 19 Dec 2014 18:05:29 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA http://www.insurancejournal.com/news/international/2014/12/19/350720.htm Fri, 19 Dec 2014 17:57:33 +0000 http://www.insurancejournal.com/?p=350720 LeapFrog Investments, Lombard Investments, and Syn Mun Kong Insurance Public Company Limited (SMK) [SMK:Bangkok] announced today that LeapFrog and Lombard will each acquire approximately 11 percent of SMK, from Royal & Sun Alliance Insurance Plc (RSA). The venture is the …

The article LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA appeared first on Insurance Journal.

]]>
Texans Can Expect More Troopers on Patrol During Holidays http://www.insurancejournal.com/news/southcentral/2014/12/19/350721.htm Fri, 19 Dec 2014 17:54:00 +0000 http://www.insurancejournal.com/?p=350721 Texas troopers will increase patrols over the more than two-week holiday period with officers on the lookout for drunken drivers. The Texas Department of Public Safety says expanded patrols begin Dec. 19 and run through Jan. 2. The period includes …

The article Texans Can Expect More Troopers on Patrol During Holidays appeared first on Insurance Journal.

]]>
Donald Gaddis Co. Acquires Chicago-Based Kelly and Elliott http://www.insurancejournal.com/news/midwest/2014/12/19/350718.htm Fri, 19 Dec 2014 17:51:29 +0000 http://www.insurancejournal.com/?p=350718 Wholesale insurance broker and general agency, Donald Gaddis Co. Inc., has purchased rights to all the renewals of Kelly and Elliott Ltd. Both companies are headquartered in Chicago. Gaddis also hired all of Kelly and Elliott’s employees. The transaction was effective …

The article Donald Gaddis Co. Acquires Chicago-Based Kelly and Elliott appeared first on Insurance Journal.

]]>
Reincke Promoted to Brokerage Manager at J.M. Wilson http://www.insurancejournal.com/news/midwest/2014/12/19/350716.htm Fri, 19 Dec 2014 17:49:26 +0000 http://www.insurancejournal.com/?p=350716 Portage, Mich.-based wholesale insurance specialist, J.M. Wilson, has promoted James Reincke to brokerage manager for the newly formed brokerage department . Reincke is responsible for developing and strengthening new and existing agency and company relationships, as well as growing the …

The article Reincke Promoted to Brokerage Manager at J.M. Wilson appeared first on Insurance Journal.

]]>
Dallas-Based Waldman Bros Promotes 5 to Vice President Positions http://www.insurancejournal.com/news/southcentral/2014/12/19/350714.htm Fri, 19 Dec 2014 17:48:26 +0000 http://www.insurancejournal.com/?p=350714 Waldman Bros, a Dallas-based insurance and financial services firm, has promoted five employees to serve as vice presidents, including Leigh Bennett, Eric Goldberg, Rita Rolf, Melanie Rasansky and Tina Sparks. In their new roles, they will be responsible for developing …

The article Dallas-Based Waldman Bros Promotes 5 to Vice President Positions appeared first on Insurance Journal.

]]>
Work-Related Injuries, Illnesses Requiring Days Off Decreased in Texas in 2013 http://www.insurancejournal.com/news/southcentral/2014/12/19/350712.htm Fri, 19 Dec 2014 17:47:34 +0000 http://www.insurancejournal.com/?p=350712 Private industry employers in Texas reported 51,890 cases involving days away from work and an incidence rate of 66.6 injuries and illnesses per 10,000 full-time equivalent employees in 2013, the Texas Department of Insurance – Division of Workers’ Compensation (DWC) …

The article Work-Related Injuries, Illnesses Requiring Days Off Decreased in Texas in 2013 appeared first on Insurance Journal.

]]>
McGowan Installed as President of the Independent Insurance Agents of Indiana http://www.insurancejournal.com/news/midwest/2014/12/19/350710.htm Fri, 19 Dec 2014 17:46:56 +0000 http://www.insurancejournal.com/?p=350710 The Independent Insurance Agents of Indiana Inc. (Indiana Big “I”) has installed its slate of officers for 2015, including Hugh M. McGowan of the McGowan Insurance Group in Indianapolis as president. In addition to McGowan, the members of the executive …

The article McGowan Installed as President of the Independent Insurance Agents of Indiana appeared first on Insurance Journal.

]]>
Ringling Bros. Disputes OSHA Citation for Hair-Hanging Accident in R.I. http://www.insurancejournal.com/news/east/2014/12/19/350706.htm Fri, 19 Dec 2014 17:28:03 +0000 http://www.insurancejournal.com/?p=350706 Ringling Bros. and Barnum & Bailey Circus has contested a citation it received from federal regulators for an accident that sent eight hair-hanging acrobats plummeting to the ground during a live performance, severely injuring most of them. Stephen Payne, a …

The article Ringling Bros. Disputes OSHA Citation for Hair-Hanging Accident in R.I. appeared first on Insurance Journal.

]]>
Ringleader of Auto Insurance Fraud Scam Pleads Guilty in Massachusetts http://www.insurancejournal.com/news/east/2014/12/19/350698.htm Fri, 19 Dec 2014 17:18:25 +0000 http://www.insurancejournal.com/?p=350698 The ringleader of an automobile insurance fraud scheme in which dozens of New York City residents claimed they lived at fictional addresses in western Massachusetts has pleaded guilty in a deal she hopes will help her avoid deportation. Lefen Chen …

The article Ringleader of Auto Insurance Fraud Scam Pleads Guilty in Massachusetts appeared first on Insurance Journal.

]]>
Paralyzed California Teen’s Pop Warner Suit Can Continue, Judge Says http://www.insurancejournal.com/news/west/2014/12/19/350695.htm Fri, 19 Dec 2014 16:59:48 +0000 http://www.insurancejournal.com/?p=350695 A Los Angeles judge has refused to throw out a lawsuit by a teenager who was paralyzed while making a tackle during a Pop Warner football game. City News Service says the judge on Wednesday rejected a motion to dismiss …

The article Paralyzed California Teen’s Pop Warner Suit Can Continue, Judge Says appeared first on Insurance Journal.

]]>
Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL http://www.insurancejournal.com/news/national/2014/12/19/350680.htm Fri, 19 Dec 2014 16:48:31 +0000 http://www.insurancejournal.com/?p=350680 Private auto insurance industry direct premiums written rose 5.13 percent in the third quarter of 2014, the largest third-quarter year-over-year growth in the past 10 years, according to an analysis by SNL Financial. The 30 largest auto writers by market …

The article Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL appeared first on Insurance Journal.

]]>
Uber in a California Regulatory Standoff Over Data http://www.insurancejournal.com/news/west/2014/12/19/350690.htm Fri, 19 Dec 2014 16:39:46 +0000 http://www.insurancejournal.com/?p=350690 Uber argued Thursday that it should not have to turn over ride data in a California regulatory standoff that shows how the transportation service is falling afoul of officials who could threaten its expansion. The issue, which is being heard in a …

The article Uber in a California Regulatory Standoff Over Data appeared first on Insurance Journal.

]]>
Arizona Insurance Council Elects 2015 Board Officers http://www.insurancejournal.com/news/west/2014/12/19/350688.htm Fri, 19 Dec 2014 16:31:36 +0000 http://www.insurancejournal.com/?p=350688 The membership of the Arizona Insurance Council has elected its officers for 2015. They are: Tim Goeller, President of AIC and regional vice president for Business Insurance at State Auto Insurance; Phyllis Senseman, vice president of AIC and vice president …

The article Arizona Insurance Council Elects 2015 Board Officers appeared first on Insurance Journal.

]]>
President Obama Signs Bill Easing Insurer Capital Standards http://www.insurancejournal.com/news/national/2014/12/19/350676.htm Fri, 19 Dec 2014 14:20:45 +0000 http://www.insurancejournal.com/?p=350676 President Barack Obama has signed legislation intended to relax capital and liquidity standards for insurers under the Dodd-Frank Act. The law gives the Federal Reserve flexibility in setting the standard for insurers. The legislation (S.2270) was approved by the Senate …

The article President Obama Signs Bill Easing Insurer Capital Standards appeared first on Insurance Journal.

]]>
North Carolina Couple Charged with Insurance Faud http://www.insurancejournal.com/news/southeast/2014/12/19/350674.htm Fri, 19 Dec 2014 14:05:25 +0000 http://www.insurancejournal.com/?p=350674 A North Carolina couple has been charged with faking an accident and medical records in filing an insurance claim. Insurance Commissioner Wayne Goodwin last week announced the arrests of James Arnold Seals, 42, of  Fayetteville, and Lisa Renee Strickland Seals, …

The article North Carolina Couple Charged with Insurance Faud appeared first on Insurance Journal.

]]>
Executives in West Virginia Chemical Spill Facing Criminal Charges http://www.insurancejournal.com/news/southeast/2014/12/19/350670.htm Fri, 19 Dec 2014 13:46:29 +0000 http://www.insurancejournal.com/?p=350670 When state inspectors arrived at Freedom Industries asking about a licorice smell enveloping West Virginia’s capital city, the point person at the tank farm, Dennis P. Farrell, told them he knew nothing about a chemical leak. He seemed to brush …

The article Executives in West Virginia Chemical Spill Facing Criminal Charges appeared first on Insurance Journal.

]]>
Fireman’s Fund Timeline: Through Earthquake, Amex and More http://www.insurancejournal.com/news/national/2014/12/19/350668.htm Fri, 19 Dec 2014 13:16:42 +0000 http://www.insurancejournal.com/?p=350668 The sale of a Fireman’s Fund unit from Allianz SE to Ace Ltd. stands to further diminish an iconic U.S. insurance brand that dates to the 1800s. The buyer said Thursday that it will integrate the operation, which caters to …

The article Fireman’s Fund Timeline: Through Earthquake, Amex and More appeared first on Insurance Journal.

]]>
MetLife Considers Appeal of Systemic Risk Label http://www.insurancejournal.com/news/national/2014/12/19/350660.htm Fri, 19 Dec 2014 11:49:08 +0000 http://www.insurancejournal.com/?p=350660 MetLife Inc., the biggest U.S. life insurer by assets, was labeled a systemically important financial institution by a council of regulators and said it will consider whether to sue the government over the decision. The Financial Stability Oversight Council voted …

The article MetLife Considers Appeal of Systemic Risk Label appeared first on Insurance Journal.

]]>
Anbang Expands Reach With Diverse Investments in China, Europe & US http://www.insurancejournal.com/news/international/2014/12/19/350655.htm Fri, 19 Dec 2014 10:16:12 +0000 http://www.insurancejournal.com/?p=350655 Anbang Insurance Group Co., the Chinese insurer that’s buying New York’s Waldorf Astoria hotel, is expanding at home with investments from China Minsheng Banking Corp. to Financial Street Holdings Co. The insurer became the largest shareholder of Minsheng Bank with a 9.1 …

The article Anbang Expands Reach With Diverse Investments in China, Europe & US appeared first on Insurance Journal.

]]>
China Forms 1st Insurance Fund to Cap Financial Risk in Shadow Banking http://www.insurancejournal.com/news/international/2014/12/19/350653.htm Fri, 19 Dec 2014 10:01:17 +0000 http://www.insurancejournal.com/?p=350653 China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country’s banking regulator said. The fund, jointly established by China Trustee Association and 13 trust firms, will …

The article China Forms 1st Insurance Fund to Cap Financial Risk in Shadow Banking appeared first on Insurance Journal.

]]>
Insurer Philadelphia Cos. Counts Carbon Footprint http://www.insurancejournal.com/news/national/2014/12/18/350644.htm Fri, 19 Dec 2014 00:56:28 +0000 http://www.insurancejournal.com/?p=350644 It’s no secret that many property/casualty insurers are tackling climate change on the back end through more sophisticated catastrophe modeling, calls for more resilient communities and pricing. But it seems to be a common misconception that the industry – like …

The article Insurer Philadelphia Cos. Counts Carbon Footprint appeared first on Insurance Journal.

]]>
Price Optimization Allegations Challenged, NAIC Investigating Practice http://www.insurancejournal.com/news/national/2014/12/18/350630.htm Thu, 18 Dec 2014 20:59:59 +0000 http://www.insurancejournal.com/?p=350630 Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the practice. Consumer Federation of America this week …

The article Price Optimization Allegations Challenged, NAIC Investigating Practice appeared first on Insurance Journal.

]]>
14 Charged for Roles in Deadly 2012 Meningitis Outbreak http://www.insurancejournal.com/news/east/2014/12/18/350610.htm Thu, 18 Dec 2014 20:38:50 +0000 http://www.insurancejournal.com/?p=350610 In the biggest criminal case ever brought in the U.S. over contaminated medicine, 14 owners or employees of a Massachusetts pharmacy were charged Wednesday in connection with a 2012 meningitis outbreak that killed 64 people. The nationwide outbreak was traced …

The article 14 Charged for Roles in Deadly 2012 Meningitis Outbreak appeared first on Insurance Journal.

]]>
New York Will Move to Prohibit Fracking http://www.insurancejournal.com/news/east/2014/12/18/350614.htm Thu, 18 Dec 2014 20:34:32 +0000 http://www.insurancejournal.com/?p=350614 New York Gov. Andrew Cuomo’s administration will move to prevent fracking in the state, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique. New York Environmental Commissioner Joe Martens said Wednesday that he was recommending …

The article New York Will Move to Prohibit Fracking appeared first on Insurance Journal.

]]>
Arthur J. Gallagher Acquires Affinity Marketing Group in Massachusetts http://www.insurancejournal.com/news/east/2014/12/18/350620.htm Thu, 18 Dec 2014 20:22:47 +0000 http://www.insurancejournal.com/?p=350620 Arthur J. Gallagher & Co. announced the acquisition of Affinity Marketing Group LLC in Natick, Massachusetts. Terms of the transaction were not disclosed. Established in 2001, Affinity Marketing Group (AMG) is a national program broker that provides access to products …

The article Arthur J. Gallagher Acquires Affinity Marketing Group in Massachusetts appeared first on Insurance Journal.

]]>
Aspen Insurance Agency Announces New Hires in N.H. http://www.insurancejournal.com/news/east/2014/12/18/350491.htm Thu, 18 Dec 2014 19:56:35 +0000 http://www.insurancejournal.com/?p=350491 Aspen Insurance Agency in Manchester, New Hampshire, has hired two additional staff members. Lyndsay Lee has joined the agency as commercial marketing representative. Lee brings seven years of insurance industry experience to Aspen Insurance Agency. Her primary responsibilities include placing …

The article Aspen Insurance Agency Announces New Hires in N.H. appeared first on Insurance Journal.

]]>
Integro Acquires Ventura Insurance Brokerage in New York http://www.insurancejournal.com/news/east/2014/12/18/350541.htm Thu, 18 Dec 2014 19:26:29 +0000 http://www.insurancejournal.com/?p=350541 Insurance brokerage and risk management firm Integro announced its acquisition of Ventura Insurance Brokerage in New York City. Financial details of the transaction were not disclosed. Ventura Insurance Brokerage is an entertainment specialist brokerage firm providing insurance services to the …

The article Integro Acquires Ventura Insurance Brokerage in New York appeared first on Insurance Journal.

]]>
With TRIA Renewal Efforts Killed, Some Predict Market Chaos http://www.insurancejournal.com/news/national/2014/12/18/350561.htm Thu, 18 Dec 2014 17:57:10 +0000 http://www.insurancejournal.com/?p=350561 Property/casualty insurance industry groups, business associations and observers alike were quick to condemn the death of TRIA renewal for 2014. Without federal terrorism reinsurance in place for 2015, they predicted canceled coverage, market chaos and more unless the measure can …

The article With TRIA Renewal Efforts Killed, Some Predict Market Chaos appeared first on Insurance Journal.

]]>
South Louisiana Property Owners not Happy with Levee Plan http://www.insurancejournal.com/news/southcentral/2014/12/18/350575.htm Thu, 18 Dec 2014 17:46:25 +0000 http://www.insurancejournal.com/?p=350575 A levee proposal by the North Lafourche Levee District in Louisiana is receiving flak from landowners who aren’t pleased with updated plans, causing the project to stall. A section of the Lockport to Larose levee project, south of Louisiana Highway …

The article South Louisiana Property Owners not Happy with Levee Plan appeared first on Insurance Journal.

]]>
Iowa’s Farmers Mutual Hail Insurance to Acquire John Deere Crop Insurance http://www.insurancejournal.com/news/midwest/2014/12/18/350573.htm Thu, 18 Dec 2014 17:43:32 +0000 http://www.insurancejournal.com/?p=350573 Farmers Mutual Hail Insurance Co. of Iowa (FMH) announced it is acquiring Moline, Ill.-based John Deere Insurance Co. and John Deere Risk Protection Inc. The action is a result of Deere’s previously announced review of strategic options for the crop insurance business. …

The article Iowa’s Farmers Mutual Hail Insurance to Acquire John Deere Crop Insurance appeared first on Insurance Journal.

]]>