Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Sat, 20 Sep 2014 00:26:08 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Senior VP Weaver to Retire from McGraw Group in California http://www.insurancejournal.com/news/west/2014/09/19/341203.htm Fri, 19 Sep 2014 17:37:15 +0000 http://www.insurancejournal.com/?p=341203 Brian Weaver, senior vice president of sales for Menlo Park, Calif.-based McGraw Group of Affiliated Cos., will retire effective Sept. 30. Cindy Roth will be joining the McGraw Group as senior vice president of sales and distribution beginning Sept. 24. Weaver has …

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Starley-Leavitt Insurance Agency Taps Donnelley in Idaho http://www.insurancejournal.com/news/west/2014/09/19/341200.htm Fri, 19 Sep 2014 17:19:39 +0000 http://www.insurancejournal.com/?p=341200 Twin Falls, Idaho-based Starley-Leavitt Insurance Agency has named Nikki Donnelley an account executive. Donnelley specializes in commercial insurance for construction and condominium risks.  She has worked in the insurance industry since 1991 and also has experience managing a large construction …

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Treasury Hasn’t Determined Boston Bombing Was ‘Act of Terrorism’ Under TRIA http://www.insurancejournal.com/news/east/2014/09/19/340994.htm Fri, 19 Sep 2014 16:59:04 +0000 http://www.insurancejournal.com/?p=340994 A U.S. Treasury Department spokesperson last week provided a statement to Boston news outlets that said “The Secretary has not determined that there has been an ‘act of terrorism’ under the Terrorism Risk Insurance Act” for the April 15, 2013, …

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Conklin Named Ohio Insurance Department Legislative Liaison http://www.insurancejournal.com/news/midwest/2014/09/19/341191.htm Fri, 19 Sep 2014 16:53:07 +0000 http://www.insurancejournal.com/?p=341191 Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor has named Allison Conklin as the Department’s legislative liaison. Conklin will work in the Executive Office’s Legislative Affairs Division. Conklin’s duties will include interfacing with legislators, government agencies and other …

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Slight Decline in Work-Related Deaths in Louisiana in 2013 http://www.insurancejournal.com/news/southcentral/2014/09/19/341189.htm Fri, 19 Sep 2014 16:49:54 +0000 http://www.insurancejournal.com/?p=341189 The number of work-related fatalities in 2013 in Louisiana declined to 114, according to a preliminary count by the U.S. Bureau of Labor Statistics in its Census of Fatal Occupational Injuries, the Louisiana Workforce Commission (LWC) reported. The figure was …

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Texas Sets Workers’ Comp Weekly Benefit Rates for Coming Year http://www.insurancejournal.com/news/southcentral/2014/09/19/341186.htm Fri, 19 Sep 2014 16:44:08 +0000 http://www.insurancejournal.com/?p=341186 The Texas Department of Insurance – Division of Workers’ Compensation announced that the workers’ compensation state average weekly wage for dates of injury from Oct. 1, 2014 through Sept. 30, 2015 has been set at $860.52. The maximum weekly benefit …

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Oklahoma Plating Company Fined $341.5K for Workplace Safety Violations http://www.insurancejournal.com/news/southcentral/2014/09/19/341174.htm Fri, 19 Sep 2014 16:42:25 +0000 http://www.insurancejournal.com/?p=341174 Pride Plating Inc. in Grove, Okla., was cited on Sept. 4 by the U.S. Department of Labor’s Occupational Safety and Health Administration for exposing workers to cancer-causing health hazards from hexavalent chromium. The company received 38 violations with proposed penalties …

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Corps Wants Changes at Louisiana’s Morganza Flood Control Structure http://www.insurancejournal.com/news/southcentral/2014/09/19/341171.htm Fri, 19 Sep 2014 16:23:34 +0000 http://www.insurancejournal.com/?p=341171 The U.S. Army Corps of Engineers will hold public meetings next week on plans to tweak the way the Morganza flood control structure is operated during floods. The Morganza flood control structure diverts water from the Mississippi River into the …

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Ohio: Man Must Sue State to Fix Damage from Falling Concrete http://www.insurancejournal.com/news/midwest/2014/09/19/341169.htm Fri, 19 Sep 2014 16:21:34 +0000 http://www.insurancejournal.com/?p=341169 A man whose car was damaged by concrete falling from a bridge just blocks away from where Cincinnati Bengals fans were tailgating will have to sue to get any money out of the state of Ohio. No one was injured, …

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Michigan Panel: Special Authority Needed to Target Car Insurance Fraud http://www.insurancejournal.com/news/midwest/2014/09/19/341166.htm Fri, 19 Sep 2014 16:18:08 +0000 http://www.insurancejournal.com/?p=341166 Michigan should create a special authority devoted to targeting auto insurance fraud and require insurers to more frequently send electronic verification of drivers’ insurance to the state, a task force recommended. The panel, created a year ago by Secretary of …

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Help Coming for Customers as PreferredOne Pulls Out of MNsure http://www.insurancejournal.com/news/midwest/2014/09/19/341164.htm Fri, 19 Sep 2014 16:11:58 +0000 http://www.insurancejournal.com/?p=341164 Help will be available for consumers as PreferredOne, the largest provider of coverage for the first year of Minnesota’s health insurance exchange, pulls out of the state-run online marketplace, MNsure’s chief executive said. CEO Scott Leitz told MNsure’s board of …

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Virginia Offering Storm Surge Risk Map for Coastal Areas http://www.insurancejournal.com/news/east/2014/09/19/341145.htm Fri, 19 Sep 2014 15:55:10 +0000 http://www.insurancejournal.com/?p=341145 Virginia emergency management officials have created a new tool to help coastal residents assess the risks of rising water in a storm surge. The Virginia Department of Emergency Management says the Geographic Information System map provides users with the maximum …

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Workers’ Comp Fraud Charges Filed on Utah http://www.insurancejournal.com/news/west/2014/09/19/341159.htm Fri, 19 Sep 2014 15:50:01 +0000 http://www.insurancejournal.com/?p=341159 A Utah man who suffered a knee injury while working at the Montana State Prison is charged with defrauding the state worker’s compensation fund by collecting total disability benefits while running a construction company. The Independent Record reported the attorney …

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Appleby & Wyman in Massachusetts Announces Leadership Changes http://www.insurancejournal.com/news/east/2014/09/19/341138.htm Fri, 19 Sep 2014 15:49:14 +0000 http://www.insurancejournal.com/?p=341138 Appleby & Wyman, an independent insurance agency with offices in Beverly and Westford, Massachusetts, announced changes to its leadership. Effective Jan. 1, 2015, Carmen Marciano, who has served as president and CEO since 1986, will assume the role of chairman. …

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Idaho Car Crash Caused by Burned Armpit Hair? http://www.insurancejournal.com/news/west/2014/09/19/341156.htm Fri, 19 Sep 2014 15:46:24 +0000 http://www.insurancejournal.com/?p=341156 A SUV full of teenagers crashed in Idaho after one of the passengers lit the driver’s armpit hair on fire with a lighter, authorities said Wednesday. All five young people in the Ford Bronco were hurt in the crash Sunday …

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Explosive Growth From California Wildfire Threatens Homes http://www.insurancejournal.com/news/west/2014/09/19/341153.htm Fri, 19 Sep 2014 15:42:58 +0000 http://www.insurancejournal.com/?p=341153 An out-of-control wildfire that was threatening more than 2,000 homes in Northern California showed explosive growth, consuming tens of thousands of additional acres, fire officials said Thursday. The fire east of Sacramento had burned through 111 square miles, up from …

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Ryan to Head Research for Marsh’s Workers’ Compensation Center http://www.insurancejournal.com/news/national/2014/09/19/341150.htm Fri, 19 Sep 2014 15:25:41 +0000 http://www.insurancejournal.com/?p=341150 Tom Ryan has been named market research leader at Marsh’s Workers’ Compensation Center of Excellence. Ryan been with  Marsh Risk Consulting for the past 20 years. Most recently, he was the Northeast leader of MRC’s casualty claims consulting practice. He …

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Alabama City Employs Sting Operation on Uber Drivers http://www.insurancejournal.com/news/southeast/2014/09/19/341132.htm Fri, 19 Sep 2014 14:49:40 +0000 http://www.insurancejournal.com/?p=341132 Tuscaloosa, Alabama police are using undercover operations to nab drivers with the Uber ride-sharing service. Police said Wednesday a two-night sting last week resulted in a 50-year-old Mississippi woman getting tickets for charges that include operating a cab without a …

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How South Carolina Has Changed Disaster Plans in 25 Years Since Hurricane Hugo http://www.insurancejournal.com/news/southeast/2014/09/19/341129.htm Fri, 19 Sep 2014 14:41:48 +0000 http://www.insurancejournal.com/?p=341129 This weekend’s 25th anniversary of Hurricane Hugo offers South Carolina residents the chance to remember the devastation wrought by their worst storm in the past century – and to be ready in case another such tempest comes. Hugo made landfall …

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Judge Approves $2.9 Million West Virginia Chemical Spill Deal http://www.insurancejournal.com/news/southeast/2014/09/19/341125.htm Fri, 19 Sep 2014 14:29:25 +0000 http://www.insurancejournal.com/?p=341125 A federal bankruptcy judge has approved a $2.9 million settlement that would benefit 300,000 people whose water was contaminated in a January chemical spill. Judge Ronald Pearson filed the order this past Tuesday in U.S. Bankruptcy Court in Charleston. Pearson’s …

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Aviva Sells Spanish Venture Stake after Tribunal OK’s Deal http://www.insurancejournal.com/news/international/2014/09/19/341116.htm Fri, 19 Sep 2014 13:09:52 +0000 http://www.insurancejournal.com/?p=341116 British insurer Aviva is selling its stake in joint venture CxG Aviva for €287 million ($369 million) to venture partner Novacaixagalicia (NCG) Banco after a Spanish tribunal ruling cleared the way for a deal. The cash deal is expected to …

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Willis Launches Medical Plans for Expat Employees http://www.insurancejournal.com/news/international/2014/09/19/341091.htm Fri, 19 Sep 2014 12:20:00 +0000 http://www.insurancejournal.com/?p=341091 Willis Employee Benefits Limited, part of Willis Group Holdings plc, has partnered with Now Health International and Healix International to offer affordable medical plans for clients with fewer than 99 expatriate employees. A special feature of the medical plan is …

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Insurance Will Absorb Some Costs in Home Depot’s Giant Privacy Breach http://www.insurancejournal.com/news/national/2014/09/19/341105.htm Fri, 19 Sep 2014 12:06:27 +0000 http://www.insurancejournal.com/?p=341105 Home Depot Inc. Thursday said some 56 million payment cards were likely compromised in a cyberattack at its stores, suggesting the hacking attack at the home improvement chain was larger than last year’s unprecedented breach at Target Corp. Home Depot, …

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New CEO Hancock Puts Stamp on AIG Management in Shake-Up http://www.insurancejournal.com/news/national/2014/09/19/341100.htm Fri, 19 Sep 2014 11:57:07 +0000 http://www.insurancejournal.com/?p=341100 American International Group Inc. named Kevin Hogan to lead its main life insurance business, putting him in charge of offerings for individuals, as new Chief Executive Officer Peter Hancock shakes up management. Hogan takes on the duties from life-unit CEO …

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Competitive Pressures Mount for Reinsurers http://www.insurancejournal.com/news/international/2014/09/19/341094.htm Fri, 19 Sep 2014 11:12:29 +0000 http://www.insurancejournal.com/?p=341094 Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialized focus. Medium-sized, “me-too” reinsurers are ripe for consolidation, …

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Litmus Analysis’ Shipperlee Explains Current Re/Insurance Ratings http://www.insurancejournal.com/news/international/2014/09/19/341090.htm Fri, 19 Sep 2014 10:40:11 +0000 http://www.insurancejournal.com/?p=341090 As the former head of A.M. Best in London, and a senior executive with Standard & Poor’s, Litmus Analysis Senior Partner Stuart Shipperlee has a very complete knowledge of what re/insurance company ratings are, and, perhaps more importantly, what they …

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Mass. Gov. Takes Issue With Report Pegging ACA Costs at $1B http://www.insurancejournal.com/news/east/2014/09/18/341020.htm Thu, 18 Sep 2014 23:59:52 +0000 http://www.insurancejournal.com/?p=341020 Massachusetts Gov. Deval Patrick is sharply criticizing a report that puts a price tag of about $1 billion on the implementation of the federal Affordable Care Act in Massachusetts. The Pioneer Institute, a conservative-leaning think tank, said in a report …

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California Governor Signs Bill Earthquake Insurance Information Bill http://www.insurancejournal.com/news/west/2014/09/18/341082.htm Thu, 18 Sep 2014 23:43:12 +0000 http://www.insurancejournal.com/?p=341082 Gov. Jerry Brown has signed Assembly Bill 2064, a bill aimed at changing the way Californians learn about earthquake insurance for their homes. Under California law, insurers that sell residential property insurance also must offer earthquake coverage to their policyholders. …

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Insurers Bonding with Climate Change Battle http://www.insurancejournal.com/news/national/2014/09/18/341065.htm Thu, 18 Sep 2014 22:02:54 +0000 http://www.insurancejournal.com/?p=341065 Nearly one-in-five major investors in green bonds issued by one of the world’s largest players in that market is coming from the insurance industry. If you haven’t heard much about green bonds and insurance investments up to now, you probably …

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North Dakota Commissioner to Serve on Financial Stability Oversight Council http://www.insurancejournal.com/news/national/2014/09/18/341059.htm Thu, 18 Sep 2014 19:53:42 +0000 http://www.insurancejournal.com/?p=341059 The National Association of Insurance Commissioners (NAIC) appointed NAIC President and North Dakota Insurance Commissioner Adam Hamm to serve a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC). The 15-member FSOC was created …

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