Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 08 Jul 2015 00:00:15 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Berry Joins FIRST Insurance Funding in Illinois http://www.insurancejournal.com/news/midwest/2015/07/07/374354.htm Tue, 07 Jul 2015 23:56:03 +0000 http://www.insurancejournal.com/?p=374354 FIRST Insurance Funding Corp. in Northbrook, Ill., has added Justin Berry as a senior vice president and regional sales manager. Berry will manage FIRST Insurance Funding Corp.’s Midwest sales team and assist with national accounts. He previously was with MarshBerry …

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1347 Property Insurance, Brotherhood Mutual Partner for Wind/Hail Coverage in Texas http://www.insurancejournal.com/news/southcentral/2015/07/07/374351.htm Tue, 07 Jul 2015 23:47:17 +0000 http://www.insurancejournal.com/?p=374351 Florida-based 1347 Property Insurance Holdings Inc. is partnering with Brotherhood Mutual Insurance Co. to offer wind/hail coverage in Texas. Under this partnership, 1347 Property Insurance subsidiary, Maison Insurance Co. (Maison), will write supplemental wind and hail policies in alliance with …

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Integro Acquires Lemme Insurance Group in Illinois http://www.insurancejournal.com/news/midwest/2015/07/07/374349.htm Tue, 07 Jul 2015 23:44:07 +0000 http://www.insurancejournal.com/?p=374349 International insurance broker and risk management firm Integro Ltd. has acquired Lemme Insurance Group Inc., based in Arlington Heights, Ill. Details of the transaction were not disclosed. Lemme, a boutique insurance brokerage and consulting firm, was formed in 1998 by …

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Toole Named Board Director at Redpoint County Mutual http://www.insurancejournal.com/news/southcentral/2015/07/07/374347.htm Tue, 07 Jul 2015 23:41:12 +0000 http://www.insurancejournal.com/?p=374347 Dallas-based Redpoint Insurance Group LLC announced that Michael G. Toole has agreed to join the board of directors of Redpoint County Mutual Insurance Co. Toole will bring over 25 years of experience to Redpoint County Mutual’s board. He currently serves …

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IBTX Risk Services Adds Bell as Director of Personal Insurance http://www.insurancejournal.com/news/southcentral/2015/07/07/374345.htm Tue, 07 Jul 2015 23:38:21 +0000 http://www.insurancejournal.com/?p=374345 IBTX Risk Services, an independent insurance agency based in Dallas, has hired Michael Bell as director of its personal insurance division. Bell brings nearly 25 years of experience in the retail insurance agency system including roles in client development and …

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Preferred Mutual Hires DiBenedetto as Claims Counsel in New York http://www.insurancejournal.com/news/east/2015/07/07/374335.htm Tue, 07 Jul 2015 20:19:19 +0000 http://www.insurancejournal.com/?p=374335 Preferred Mutual Insurance Company in New Berlin, New York, hired Shelly DiBenedetto as claims counsel. In her new role, she will be responsible for providing legal advice and guidance to assist the professionals within Preferred’s Claims Department. She will also …

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IICF Names Cummins Executive Director in Midwest http://www.insurancejournal.com/news/midwest/2015/07/07/374330.htm Tue, 07 Jul 2015 18:58:34 +0000 http://www.insurancejournal.com/?p=374330 The Insurance Industry Charitable Foundation has named Mary Cummins executive director of its Midwest division. Cummins will be responsible for leading IICF’s philanthropic initiatives in the Midwestern region, including local nonprofit grant programs and the division’s annual series of fundraising, …

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What Those Smart Cars of Future Will Look Like http://www.insurancejournal.com/news/national/2015/07/07/374258.htm Tue, 07 Jul 2015 17:11:42 +0000 http://www.insurancejournal.com/?p=374258 Much of the talk surrounding autonomous cars these days is centered on testing and regulations and not on what the car of the future might look like. A 2012 Institute of Electrical and Electronics Engineers (IEEE) press release predicted autonomous …

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Connecticut Man Awarded $4.2M in Medical Malpractice Suit http://www.insurancejournal.com/news/east/2015/07/07/374302.htm Tue, 07 Jul 2015 16:59:11 +0000 http://www.insurancejournal.com/?p=374302 A Connecticut man has been awarded $4.2 million as compensation for a surgery he says caused him to lose the use of his shoulder. A New Haven jury on July 1 decided that 58-year-old Gregory Leigh, of Wallingford, should be …

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AmWINS Launches New Cyber Liability Product http://www.insurancejournal.com/news/national/2015/07/07/374306.htm Tue, 07 Jul 2015 16:56:31 +0000 http://www.insurancejournal.com/?p=374306 AmWINS Group, Inc., a global distributor of specialty insurance products and services, announced today the launch of a new dedicated excess facility designed to meet the rapidly growing demand for cyber liability insurance. “With some domestic insurers exiting the product …

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Innovative Captive Strategies Acquires Aceterrus in Montana http://www.insurancejournal.com/news/west/2015/07/07/374301.htm Tue, 07 Jul 2015 16:44:50 +0000 http://www.insurancejournal.com/?p=374301 Innovative Captive Strategies has acquired Aceterrus Insurance Resources of Bigfork, Mont. Aceterrus will operate as a subsidiary of Innovative Captive Strategies. The Aceterrus office and team members will remain intact. Terms of the deal were not disclosed. Aceterrus is an independent …

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Bike Advocates Applaud Passage of Safety Bill in Maine http://www.insurancejournal.com/news/east/2015/07/07/374287.htm Tue, 07 Jul 2015 16:43:28 +0000 http://www.insurancejournal.com/?p=374287 Bike safety advocates are celebrating a new law in Maine that they say will make the roads safer for bikers and pedestrians. Brian Allenby of the Bicycle Coalition of Maine tells the Maine Public Broadcasting Network that the new law …

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Small Quake Shakes Central Oklahoma http://www.insurancejournal.com/news/southcentral/2015/07/07/374297.htm Tue, 07 Jul 2015 16:34:50 +0000 http://www.insurancejournal.com/?p=374297 An earthquake has rattled part of central Oklahoma. The U.S. Geological Survey says the 2.8 magnitude earthquake was recorded about 8:13 a.m. Sunday about four miles east-southeast of Jones in Oklahoma County. Geologists say the temblor occurred at a depth …

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Heavy Rainfall Impacts Shipping at Oklahoma Port http://www.insurancejournal.com/news/southcentral/2015/07/07/374295.htm Tue, 07 Jul 2015 16:33:18 +0000 http://www.insurancejournal.com/?p=374295 Heavy rainfall in northeastern Oklahoma has impacted waterway shipping along the McClellan-Kerr Arkansas River Navigation System and the Tulsa Port of Catoosa. Bob Portiss, director at the Port of Catoosa, says shipping ground to a halt along the nation’s most …

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Michigan Rail Project to Eliminate Dangerous Crossing http://www.insurancejournal.com/news/midwest/2015/07/07/374293.htm Tue, 07 Jul 2015 16:30:48 +0000 http://www.insurancejournal.com/?p=374293 Officials say a project to extend a rail line in a DTE Energy Co. rail yard in suburban Detroit, Mich. is designed to improve safety and traffic flow. Work begins July 13 in Trenton. The yard holds trains delivering coal …

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Texas Court Approves $84.4M Settlement in Farmers Case http://www.insurancejournal.com/news/southcentral/2015/07/07/374289.htm Tue, 07 Jul 2015 16:28:20 +0000 http://www.insurancejournal.com/?p=374289 A Travis County, Texas district court has granted preliminary approval of a settlement with Farmers Insurance Group that will return $84.4 million to policyholders stemming from a 2002 homeowners insurance rate case. The case stems from a 2002 lawsuit by …

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Buffett Donates Record $2.84 Billion to Gates Foundation, Family Charities http://www.insurancejournal.com/news/national/2015/07/07/374285.htm Tue, 07 Jul 2015 16:22:42 +0000 http://www.insurancejournal.com/?p=374285 Warren Buffett on Monday donated about $2.84 billion of Berkshire Hathaway Inc. stock to the Bill and Melinda Gates Foundation and four family charities, as part of the billionaire’s plan to give away nearly all of his wealth. The 10th …

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Thousands of Utahans Nailed for Violating New Seat Belt Law http://www.insurancejournal.com/news/west/2015/07/07/374281.htm Tue, 07 Jul 2015 15:59:04 +0000 http://www.insurancejournal.com/?p=374281 Thousands of motorists have been cited since a tougher Utah seat belt law went into effect nearly two months ago, state transportation officials said. More than 6,000 drivers have been caught not wearing seat belts since the law was enacted …

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Montana Thunderstorm Results in Crop Damage, Power Outages http://www.insurancejournal.com/news/west/2015/07/07/374279.htm Tue, 07 Jul 2015 15:56:22 +0000 http://www.insurancejournal.com/?p=374279 A strong thunderstorm that blew across northern Montana over the weekend brought strong winds and large hail that caused property and crop damage and power outages along a 300-mile stretch of the state from Cut Bank to Fort Peck, officials …

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Communities Near Southern California Fire at Risk for Floods http://www.insurancejournal.com/news/west/2015/07/07/374277.htm Tue, 07 Jul 2015 15:53:49 +0000 http://www.insurancejournal.com/?p=374277 U.S. Forest Service officials say those living in areas around a 49-square-mile wildfire will be at risk for flooding and debris flows long after the flames are extinguished. The Press-Enterprise in Riverside reported that the fire in the San Bernardino …

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SpaceX Still Doesn’t Know Why Falcon 9 Rocket Exploded http://www.insurancejournal.com/news/national/2015/07/07/374275.htm Tue, 07 Jul 2015 15:34:34 +0000 http://www.insurancejournal.com/?p=374275 SpaceX is still homing in on why its Falcon 9 rocket exploded after liftoff last week, unable to resolve conflicting data radioed back to the ground before the explosion, CEO Elon Musk said on Tuesday. “It’s a huge blow to …

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Hortica Now a Member of Wisconsin’s Sentry Insurance Group http://www.insurancejournal.com/news/midwest/2015/07/07/374057.htm Tue, 07 Jul 2015 15:27:36 +0000 http://www.insurancejournal.com/?p=374057 Sentry Insurance, headquartered in Stevens Point, Wis., and Edwardsville, Ill.-based Hortica Insurance (Florists’ Mutual Insurance Company) have joined forces. After review and approval by both the Wisconsin Office of the Commissioner of Insurance and Illinois Department of Insurance, Hortica is …

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How Rental Car Insurance Offered by Credit Cards Varies http://www.insurancejournal.com/news/national/2015/07/07/374253.htm Tue, 07 Jul 2015 13:51:55 +0000 http://www.insurancejournal.com/?p=374253 In the midst of moving from Atlanta to St. Louis last year, Thomas Nitzsche discovered his parked rental car had been hit by another car, causing $791 in damage. To keep costs low, he had rejected the “collision damage waiver” …

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Stricter Teen Driving Laws Now in Effect in Ohio http://www.insurancejournal.com/news/midwest/2015/07/07/374069.htm Tue, 07 Jul 2015 12:00:07 +0000 http://www.insurancejournal.com/?p=374069 Ohio’s teen drivers under the age of 18 will face tighter restrictions went into effect on July 1, an Ohio insurance trade group reported. According to the Ohio Insurance Institute, the new restrictions focus on limiting the number of passengers …

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Safety Experts Warn Smart Car Dashboard Screens Distract Drivers http://www.insurancejournal.com/news/national/2015/07/07/374250.htm Tue, 07 Jul 2015 10:40:02 +0000 http://www.insurancejournal.com/?p=374250 When it comes to dashboard displays that are more like smart phones, two things are clear: Customers want them, and automakers are intent on supplying them. But are they really a good idea? Car companies answer with an emphatic yes. …

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El Niño Forming in Pacific Is Turbocharged by Tropical Cyclones http://www.insurancejournal.com/news/international/2015/07/07/374248.htm Tue, 07 Jul 2015 10:28:12 +0000 http://www.insurancejournal.com/?p=374248 The El Niño forming across the Pacific has been turbocharged by a series of tropical cyclones that helped to shift the direction of trade winds, potentially adding to warming that’s evoking parallels with the record 1997-98 event. Several cyclones, including …

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Technology, Supply Chain & Regulation Top ACE Europe’s List of EMEA Risks http://www.insurancejournal.com/news/international/2015/07/07/374242.htm Tue, 07 Jul 2015 10:20:01 +0000 http://www.insurancejournal.com/?p=374242 A list, compiled by the ACE European Group, sets out the “new wave of interrelated, fast-changing risks, reflecting rapid changes in the global economic landscape and the increasing role of technology and multinational expansion as growth drivers, tops the list …

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Friday Afternoon Scam Cost Hedge Fund $1.2 Million – and CFO’s Job http://www.insurancejournal.com/news/international/2015/07/07/374238.htm Tue, 07 Jul 2015 09:40:41 +0000 http://www.insurancejournal.com/?p=374238 The finance chief at Fortelus Capital Management LLP got an alarming phone call just as he was getting ready to leave work on a Friday. The caller said he was from Coutts, the London-based hedge fund’s bank, and warned there …

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G7 Endorses African Risk Capacity Program as Model for Climate Insurance http://www.insurancejournal.com/news/international/2015/07/07/374236.htm Tue, 07 Jul 2015 09:32:47 +0000 http://www.insurancejournal.com/?p=374236 An announcement from African Risk Capacity (ARC) notes that “G7 leaders have singled out Africa’s first parametric catastrophe insurance pool, as a model upon which to develop catastrophe insurance solutions in vulnerable regions. “During the 41st G7 summit in June, …

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Swiss Re Corporate Solutions Opens Madrid Office http://www.insurancejournal.com/news/international/2015/07/07/374234.htm Tue, 07 Jul 2015 09:23:45 +0000 http://www.insurancejournal.com/?p=374234 Swiss Re Corporate Solutions announced that it has opened an office in Madrid, Spain, to reinforce its presence in the Iberian Peninsula. It will offer the company’s range of products and customized services via a locally based team. Tony Buckle, …

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