Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 22 Jul 2014 04:55:25 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 Ohio Woman’s Injuries Reveals Cars’ Vulnerability to Rocks http://www.insurancejournal.com/news/midwest/2014/07/22/335390.htm Tue, 22 Jul 2014 04:55:25 +0000 http://www.insurancejournal.com/?p=335390 A rock-throwing attack that left an Ohio woman with serious injuries is a reminder of how vulnerable motorists are when someone decides to target random victims from a highway bridge or overpass. As 52-year-old middle school language arts teacher Sharon Budd …

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Columbia Insurance Group Hires Klug as New CFO http://www.insurancejournal.com/news/midwest/2014/07/22/335386.htm Tue, 22 Jul 2014 04:47:31 +0000 http://www.insurancejournal.com/?p=335386 Missouri-based Columbia Insurance Group (CIG) welcomed Kansas native Kelly Klug, as its new chief financial officer, senior vice president and treasurer. Klug is a trusted insurance and financial professional with over 30 years of proven success. Throughout his career, he …

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Texas Man to Pay $42.1K Restitution for Home Repair Fraud in Oklahoma http://www.insurancejournal.com/news/southcentral/2014/07/22/335384.htm Tue, 22 Jul 2014 04:43:19 +0000 http://www.insurancejournal.com/?p=335384 After a four-year pursuit, the Oklahoma Attorney General’s Office says it has secured $42,158 in restitution from a Texas man for Oklahoma victims of home repair fraud. The office said that Randy Leroy Madewell of Danbury, Texas, was charged in …

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Chinese Drywall Maker Ordered to Pay $55,000, Stop Doing Business in U.S. http://www.insurancejournal.com/news/southcentral/2014/07/22/335382.htm Tue, 22 Jul 2014 04:40:06 +0000 http://www.insurancejournal.com/?p=335382 A federal judge has ordered a China-based maker of drywall to pay $55,000 in penalties and attorney fees – and to stop doing business in the United States – as punishment for refusing to take part in court proceedings over …

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EEOC Spells Out How Disabilities Act Applies to Pregnant Workers http://www.insurancejournal.com/news/national/2014/07/21/335376.htm Tue, 22 Jul 2014 01:32:35 +0000 http://www.insurancejournal.com/?p=335376 New federal guidelines on job discrimination against pregnant workers could have a big impact on the workplace and in the courtroom. The expanded rules adopted by the bipartisan Equal Employment Opportunity Commission make clear that any form of workplace discrimination …

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Winds Setback Firefighters Battling Massive Washington Blaze http://www.insurancejournal.com/news/west/2014/07/21/335372.htm Tue, 22 Jul 2014 00:04:04 +0000 http://www.insurancejournal.com/?p=335372 Firefighters doing battle with the massive Carlton Complex fires in north-central Washington are having to to deal with wind-driven sparks that can travel as far as a half-a-mile, as one town small town was put on evacuation notice late Monday. …

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Better Weather May Help Firefighters Fight Massive Washington Blaze http://www.insurancejournal.com/news/west/2014/07/21/335364.htm Mon, 21 Jul 2014 20:32:28 +0000 http://www.insurancejournal.com/?p=335364 Calmer winds and cooler temperatures helped firefighters Monday against a destructive wildfire that has burned hundreds of square miles in Washington State. The Carlton Complex of fires in north-central Washington had burned about 379 square miles, and the fire was …

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AIG Chairman Miller Comments on Corporate Tax Rate, Succession and BofA Deal http://www.insurancejournal.com/news/national/2014/07/21/335331.htm Mon, 21 Jul 2014 19:00:14 +0000 http://www.insurancejournal.com/?p=335331 American International Group Inc. Chairman Steve Miller said lawmakers should bring U.S. corporate tax rates in line with other nations’ to halt firms from switching their legal address to cut obligations. The U.S. corporate tax rate of 35 percent is …

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Vits Joins Burnham Benefits as Senior Account Executive in California http://www.insurancejournal.com/news/west/2014/07/21/335353.htm Mon, 21 Jul 2014 16:52:41 +0000 http://www.insurancejournal.com/?p=335353 Burnham Benefits Insurance Services named Helen Vits a senior account executive in its Irvine, Calif. office. Vits will consult with Burnham clients as they structure their employee benefit packages. Vits’ career in employee benefits began at Baker, Thomsen Associates, which …

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Insurer Says OK to Settlement in Wrongful Death Suit Against Hawaii Driver http://www.insurancejournal.com/news/west/2014/07/21/335351.htm Mon, 21 Jul 2014 16:39:44 +0000 http://www.insurancejournal.com/?p=335351 A $1.1 million settlement has been reached in a wrongful death lawsuit involving the death of a 26-year-old pedestrian. The settlement came in a civil lawsuit against Robert Wayne Yount, 83, and the civil case will be dismissed, The Garden …

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AP Finds That Wildfire Citations in California Applied Unevenly http://www.insurancejournal.com/news/west/2014/07/21/335349.htm Mon, 21 Jul 2014 16:34:25 +0000 http://www.insurancejournal.com/?p=335349 A review by The Associated Press of California government data has found a wide discrepancy in how state and local fire officials apply fines and citations for failing to clear vegetation in areas prone to wildland blazes. Property owners in southern …

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EPIC Purchases Jenkins Insurance Services in California http://www.insurancejournal.com/news/west/2014/07/21/335347.htm Mon, 21 Jul 2014 16:32:12 +0000 http://www.insurancejournal.com/?p=335347 The shareholders of Jenkins Insurance Services have sold 100 percent of their shares to Edgewood Partners Insurance Center. Terms of the deal, which closed on July 17, were not disclosed. Jenkins has California offices in Concord, Sacramento, San Jose, Orange County, and offices in Reno, Nev. …

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Rock-Throwing Attack in Pennsylvania Shows Cars’ Vulnerability http://www.insurancejournal.com/news/east/2014/07/21/335317.htm Mon, 21 Jul 2014 16:27:28 +0000 http://www.insurancejournal.com/?p=335317 A rock-throwing attack that left an Ohio woman with serious injuries is a reminder of how vulnerable motorists are when someone decides to target random victims from a highway bridge or overpass. As 52-year-old middle school language arts teacher Sharon …

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Cross Insurance Acquires Merchant, Needham & Associates in Maine http://www.insurancejournal.com/news/east/2014/07/21/335328.htm Mon, 21 Jul 2014 16:00:27 +0000 http://www.insurancejournal.com/?p=335328 Bangor, Maine-based Cross Insurance has acquired Merchant, Needham & Associates Insurance, an independent insurance agency based in Northeast Harbor, Maine. Terms of the transaction were not disclosed. Originally founded in the late 1890s, Merchant, Needham & Associates provides business, home, …

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USI Acquires BHB Insurance Services in New Jersey http://www.insurancejournal.com/news/east/2014/07/21/335330.htm Mon, 21 Jul 2014 15:39:13 +0000 http://www.insurancejournal.com/?p=335330 USI Insurance Services announced the closing of the acquisition of BHB Insurance Services in Toms River, New Jersey. Terms of the transaction were not disclosed. USI says BHB is best known for its community associations practice group (primarily condos and …

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Freedom Industries, West Virginia Businesses Seek $2.9M Insurance Payout for Chemical Spill http://www.insurancejournal.com/news/southeast/2014/07/21/335321.htm Mon, 21 Jul 2014 14:36:48 +0000 http://www.insurancejournal.com/?p=335321 At least $2.9 million could fuel studies in a proposed settlement between West Virginia businesses and residents and the company that contaminated their water supply. The deal between lawyers for Freedom Industries and businesses and people who sued Freedom was …

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NFL Players Sue Own Union, Allege Concussion Conspiracy with Owners http://www.insurancejournal.com/news/national/2014/07/21/335312.htm Mon, 21 Jul 2014 13:08:00 +0000 http://www.insurancejournal.com/?p=335312 The National Football League Players Association conspired with the league to hide the risks of head injuries sustained on the gridiron, two ex-pros claimed in a lawsuit. Former Minnesota Vikings defensive tackle Christian Ballard and Gregory Westbrooks, a linebacker for …

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Best Takes Rating Actions on AXA Financial, Certain Subsidiaries http://www.insurancejournal.com/news/national/2014/07/21/335310.htm Mon, 21 Jul 2014 12:59:48 +0000 http://www.insurancejournal.com/?p=335310 A.M. Best has revised the outlook of the issuer credit ratings (ICR) to stable from negative and affirmed the ICR of “a-” and debt ratings of New York-based AXA Financial, Inc., and has revised its outlook on the ratings to …

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Best Affirms Allianz Global Risks US Insurance Co. & Subs Ratings http://www.insurancejournal.com/news/national/2014/07/21/335308.htm Mon, 21 Jul 2014 12:56:15 +0000 http://www.insurancejournal.com/?p=335308 A.M. Best has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings of “aa-” of Allianz Global Risk US Insurance Company, Allianz Underwriters Insurance Company and AGCS Marine Insurance Company (collectively referred to AGCS NA). The …

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S&P Raises Liberty Mutual’s Ratings; Outlook Revised to Stable on NICO Deal http://www.insurancejournal.com/news/national/2014/07/21/335305.htm Mon, 21 Jul 2014 12:52:52 +0000 http://www.insurancejournal.com/?p=335305 Standard & Poor’s Ratings Services announced that it has raised its ratings on Liberty Mutual Insurance Co. to ‘A/A-1′ from ‘A-/A-2′, as well as its ratings on parent company Liberty Mutual Group Inc. to ‘BBB’ from ‘BBB-’, and its ratings …

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GM Backs Ban on Renting Recalled Cars http://www.insurancejournal.com/news/national/2014/07/21/335221.htm Mon, 21 Jul 2014 12:00:17 +0000 http://www.insurancejournal.com/?p=335221 General Motors Co. is the first big automaker to support legislation barring rental-car companies from renting or selling vehicles subject to a recall. GM’s support was announced by bill author Sen. Charles Schumer, D-N.Y. GM endorsed the bill after language …

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University of Connecticut Pays $1.3M to Settle Sexual Discrimination Lawsuit http://www.insurancejournal.com/news/east/2014/07/21/335296.htm Mon, 21 Jul 2014 11:45:50 +0000 http://www.insurancejournal.com/?p=335296 The University of Connecticut said it will pay a group of students almost $1.3 million to settle a sex discrimination suit filed last year that led to a hearing in the state legislature. The five current and former female students …

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S&P Scores Global P/C Reinsurance Sector Risk As ‘Intermediate’ http://www.insurancejournal.com/news/international/2014/07/21/335295.htm Mon, 21 Jul 2014 10:33:12 +0000 http://www.insurancejournal.com/?p=335295 Standard & Poor’s Ratings Services has issued an intermediate insurance industry and country risk assessment (IICRA) score on the global property and casualty reinsurance sector. The report “Insurance Industry And Country Risk Assessment On The Global Property/Casualty Reinsurance Sector” gives …

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More Data Can Increase Hurricane Exposure Understanding: ImageCat http://www.insurancejournal.com/news/international/2014/07/21/335293.htm Mon, 21 Jul 2014 10:28:36 +0000 http://www.insurancejournal.com/?p=335293 According to Gavin Lewis, commercial director of ImageCat, a US and London based risk management provider, “even in the middle of hurricane season, catastrophe risk managers can improve their understanding of their exposures through better data analysis. He noted that …

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Allianz Backs ‘Legend’ Gross as Pimco Total Return Fund Lags Behind http://www.insurancejournal.com/news/international/2014/07/21/335289.htm Mon, 21 Jul 2014 10:23:49 +0000 http://www.insurancejournal.com/?p=335289 Allianz SE, Europe’s biggest insurer and owner of Pacific Investment Management Co., is standing by Chief Investment Officer Bill Gross as his main fund trails peers and struggles with a record streak of investor redemptions, calling him an industry “legend.” …

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Judge Declares Mistrial in $1B Trinity Guardrail Case http://www.insurancejournal.com/news/national/2014/07/21/335290.htm Mon, 21 Jul 2014 10:23:24 +0000 http://www.insurancejournal.com/?p=335290 Trinity Industries Inc.’s courtroom defense of the safety of its highway guardrails prompted a federal judge to declare a mistrial because of “serious concerns” about a company witness’s truthfulness. U.S. District Judge Rodney Gilstrap in Marshall, Texas, ruled yesterday that …

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Typhoon Rammasun, Strongest Storm in Decades, Kills 18 in China http://www.insurancejournal.com/news/international/2014/07/21/335284.htm Mon, 21 Jul 2014 10:12:30 +0000 http://www.insurancejournal.com/?p=335284 The strongest typhoon to hit southern China in four decades has killed 18 people, the government said Sunday, while in the Philippines the death toll from the storm’s earlier destruction rose to 94. Typhoon Rammasun killed nine people and left …

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Florida Jury’s $23.6B Tobacco Award Likely to Be Reduced http://www.insurancejournal.com/news/southeast/2014/07/21/335283.htm Mon, 21 Jul 2014 10:10:41 +0000 http://www.insurancejournal.com/?p=335283 A decision by a Florida jury to impose punitive damages of $23.6 billion against R.J. Reynolds Tobacco Co. on Friday is likely to be rejected on appeal or the award reduced substantially, lawyers with expertise in jury awards said on …

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Greater Texas Insurance Managers and Agency Merges with BKCW Insurance http://www.insurancejournal.com/news/southcentral/2014/07/21/335249.htm Mon, 21 Jul 2014 05:45:33 +0000 http://www.insurancejournal.com/?p=335249 Independent insurance agency BKCW L.P. of Killeen, Texas, and Greater Texas Insurance Managers and Agency of Austin merged operations effective July 1, 2014. Greater Texas Insurance Managers and Agency will continue to do business at its current location on Anderson …

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Kansas Firefighters to Benefit from $12M Relief Fund Distribution http://www.insurancejournal.com/news/midwest/2014/07/21/335247.htm Mon, 21 Jul 2014 05:39:09 +0000 http://www.insurancejournal.com/?p=335247 Kansas Insurance Commissioner Sandy Praeger currently is making the annual funds distribution to state and local firefighter relief organizations. Nearly $12 million will be distributed among 569 local Firefighters Relief Associations (FRAs) across the state. That is nearly $342,000 more …

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