Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 26 Nov 2014 02:35:26 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Snowstorm Recovery Efforts Continue in Buffalo, N.Y. http://www.insurancejournal.com/news/east/2014/11/25/348331.htm Tue, 25 Nov 2014 23:57:26 +0000 http://www.insurancejournal.com/?p=348331 The Buffalo, New York, region is continuing to recover and assess damages from last week’s record-breaking lake-effect snowstorm that brought more than 7 feet of snow to the area. State Farm spokesperson Rachael Risinger said that as of Tuesday, Nov. …

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North Carolina Insurance Agent Accused of Embezzlement http://www.insurancejournal.com/news/southeast/2014/11/25/348295.htm Tue, 25 Nov 2014 20:11:41 +0000 http://www.insurancejournal.com/?p=348295 North Carolina insurance officials announced the arrest of Harry Bernard Laughlin of Charlotte on 28 felony counts of embezzlement by an insurance agent. Department of Insurance criminal investigators allege that between August 2013 and March 2014, while acting as owner …

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AHT Insurance in Virginia Announces CEO Retirement and Succession Plan http://www.insurancejournal.com/news/east/2014/11/25/348262.htm Tue, 25 Nov 2014 17:59:08 +0000 http://www.insurancejournal.com/?p=348262 Armfield Harrison & Thomas Inc. (AHT Insurance) in Leesburg, Virginia, announced that President and CEO Alexander Green is retiring, effective Jan. 1, 2015. Green has been with the firm for 36 years and will continue to support the firm by …

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Liberty, Texas, Posting Auto Theft Warning Signs from Insurance Council http://www.insurancejournal.com/news/southcentral/2014/11/25/348266.htm Tue, 25 Nov 2014 17:55:16 +0000 http://www.insurancejournal.com/?p=348266 Police officers in Liberty, Texas, will be putting up crime prevention signs in their city this week to help motorists prevent auto thefts and burglaries. Black Friday and the holiday shopping season is a great time for business retailers and …

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Texas to Hold Hearings on Workers’ Comp Rates and Relativities http://www.insurancejournal.com/news/southcentral/2014/11/25/348242.htm Tue, 25 Nov 2014 17:45:59 +0000 http://www.insurancejournal.com/?p=348242 The Texas Department of Insurance has scheduled public hearings to review rates charged by insurers for workers’ compensation insurance in this state, and to consider revised Texas workers’ compensation classification relativities. The hearings will proceed consecutively, and will begin at …

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Reports: Wisconsin Train Derailment Caused by Human Error http://www.insurancejournal.com/news/midwest/2014/11/25/348240.htm Tue, 25 Nov 2014 17:44:52 +0000 http://www.insurancejournal.com/?p=348240 A two-train collision and derailment last July in southeastern Wisconsin was caused by human error when the rear of a freight train was unintentionally backed onto another rail line, according to reports submitted to federal transportation officials. Incident reports released …

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Work Begins on Westernmost Levees in Louisiana’s Terrebonne Parish http://www.insurancejournal.com/news/southcentral/2014/11/25/348238.htm Tue, 25 Nov 2014 17:42:34 +0000 http://www.insurancejournal.com/?p=348238 Terrebonne Parish flood protection planners are taking the first steps toward building the western footprint of the Morganza-to-the-Gulf levee system in Louisiana. The 98-mile system’s newest authorization from Congress earlier this year extended its footprint about16 miles west from the …

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California Bus Crash That Killed 1 Was Its 2nd Wreck Of Day http://www.insurancejournal.com/news/west/2014/11/25/348255.htm Tue, 25 Nov 2014 17:41:08 +0000 http://www.insurancejournal.com/?p=348255 A tour bus that drifted off a Northern California interstate and crashed onto its roof, killing a 33-year-old man and injuring 30 others, was the vehicle’s second wreck in a day, authorities said. The bus was en route from Los …

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Missouri Seeking Administrator/Insurer for Workers’ Comp Residual Market http://www.insurancejournal.com/news/midwest/2014/11/25/348252.htm Tue, 25 Nov 2014 17:38:52 +0000 http://www.insurancejournal.com/?p=348252 The Missouri Department of Insurance, Financial Institutions & Professional Registration is seeking to contract with one or more entities to administer and provide workers’ compensation insurance for the state’s Workers’ Compensation Alternative Residual Market Plan (ARM Plan). All bidders must …

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Barney & Barney Opens Another Northern California Office http://www.insurancejournal.com/news/west/2014/11/25/348250.htm Tue, 25 Nov 2014 17:38:16 +0000 http://www.insurancejournal.com/?p=348250 Barney & Barney announced the opening of a Walnut Creek, Calif. office to serve its growing number of clients in the East Bay. The office is in downtown Walnut Creek and will accommodate more than 70 Barney & Barney employees in the East Bay. …

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Mutual of Omaha CEO Neary to Retire; Blackledge Named President, Successor http://www.insurancejournal.com/news/midwest/2014/11/25/348248.htm Tue, 25 Nov 2014 17:37:45 +0000 http://www.insurancejournal.com/?p=348248 Omaha, Neb.-based Mutual of Omaha Chairman and CEO Dan Neary announced that he will retire in 2015. He will retain the role of chairman of the company’s board of directors. Executive Vice President James T. Blackledge has been appointed president of …

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UK Insurers Already Banned from Paying Ransoms to Terrorist Organizations http://www.insurancejournal.com/news/international/2014/11/25/348244.htm Tue, 25 Nov 2014 17:36:22 +0000 http://www.insurancejournal.com/?p=348244 The UK Government’s proposal to ban the payment of ransoms by insurers to terrorist organizations, which will be officially presented to Parliament tomorrow, is in fact already inscribed in law, not only by the UK, but also by the U.S., …

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Texas Woman Acquitted in Fiancé’s Death; GM Ignition-Switch Blamed http://www.insurancejournal.com/news/southcentral/2014/11/25/348246.htm Tue, 25 Nov 2014 17:35:51 +0000 http://www.insurancejournal.com/?p=348246 A Texas woman who pleaded guilty to negligent homicide in the death of her fiancé in a 2004 accident involving a since-recalled General Motors Saturn Ion won a reversal of her conviction. Candice Anderson, who was seriously injured in the …

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Outlook Revised to Positive for Farmers Union Mutual Insurance Co. http://www.insurancejournal.com/news/midwest/2014/11/25/348236.htm Tue, 25 Nov 2014 17:30:01 +0000 http://www.insurancejournal.com/?p=348236 A.M. Best has revised the outlook to positive from stable and affirmed the issuer credit rating (ICR) of “a” for Farmers Union Mutual Insurance Company (FUMI) in Jamestown, N.D. Concurrently, A.M. Best has also affirmed FUMI’s financial strength rating of A (Excellent). The …

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Vermont to Enforce Seat Belt Law Over Thanksgiving Holiday http://www.insurancejournal.com/news/east/2014/11/25/348233.htm Tue, 25 Nov 2014 17:23:56 +0000 http://www.insurancejournal.com/?p=348233 The Vermont Governor’s Highway Safety Program is going to be sponsoring a holiday “Click It or Ticket” campaign to encourage the use of seat belts and child safety seats. Beginning on Wednesday, Nov. 26, motorists in Vermont can expect to …

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Allied World Launches Network Security Insurance Product for Canada http://www.insurancejournal.com/news/international/2014/11/25/348228.htm Tue, 25 Nov 2014 16:24:49 +0000 http://www.insurancejournal.com/?p=348228 Allied World Assurance Company Holdings AG announced the launch of Allied World North America’s privacy and network security insurance product, called Privacy//101SM, which is tailored for the Canadian marketplace. Designed for small to mid-size companies, including law firms, healthcare and …

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Alabama Jury Awards Damages in Diamond-Swap Case http://www.insurancejournal.com/news/southeast/2014/11/25/348227.htm Tue, 25 Nov 2014 16:14:26 +0000 http://www.insurancejournal.com/?p=348227 A Montgomery County jury has awarded a woman more than $30,000 in damages after she accused a jeweler of swapping a diamond she wanted to re-purpose with one of lesser value. WSFA-TV reported that the Alabama jury awarded DeeDee Nolan …

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Abuse Complaints Against Private West Virginia School Released http://www.insurancejournal.com/news/southeast/2014/11/25/348225.htm Tue, 25 Nov 2014 16:11:50 +0000 http://www.insurancejournal.com/?p=348225 A former West Virginia boarding school for troubled youths was named in more than a dozen complaints of abuse and mistreatment over the past five years, one involving a student who allegedly volunteered a younger sibling to other residents for …

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Markel Names Glisson as Global Insurance President http://www.insurancejournal.com/news/national/2014/11/25/348216.htm Tue, 25 Nov 2014 15:45:19 +0000 http://www.insurancejournal.com/?p=348216 Markel Corp. said that Britt Glisson has been appointed president of the Global Insurance division. Markel Global was formed following the acquisition of Alterra Capital Holdings by Markel in May 2013. The Markel Global team underwrites marine, professional liability, property, …

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Smaller Firms Showing Interest in Cyber Liability Coverage: Aspen’s Vitale http://www.insurancejournal.com/news/national/2014/11/25/348198.htm Tue, 25 Nov 2014 15:30:35 +0000 http://www.insurancejournal.com/?p=348198 Cyber liability insurance isn’t just for large corporations anymore. Demand for cyber liability insurance is now coming from middle-sized and small businesses, according to an insurance CEO who believes the market potential is tremendous. “Now we see many, many what …

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NYC Incurred Record $732M in Legal Costs Last Fiscal Year http://www.insurancejournal.com/news/east/2014/11/25/348160.htm Tue, 25 Nov 2014 14:21:43 +0000 http://www.insurancejournal.com/?p=348160 New York incurred a record $732 million in legal costs in the last fiscal year, mostly from claims of police abuse, negligence and hiring discrimination, expenses that accelerated under Mayor Bill de Blasio. The amount accrued in settlements and judgments …

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Honda Admits Not Reporting U.S. Claims; Could Face Record Fine http://www.insurancejournal.com/news/national/2014/11/25/348152.htm Tue, 25 Nov 2014 13:57:52 +0000 http://www.insurancejournal.com/?p=348152 Honda Motor Co. said it failed to report more than 1,700 claims of injury or death involving its cars to U.S. regulators, a violation that would be one of the biggest in history and could lead to a fine of …

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ACE Names Waterford as Deputy Head of Accident & Health in Asia Pacific http://www.insurancejournal.com/news/international/2014/11/25/348111.htm Tue, 25 Nov 2014 10:24:29 +0000 http://www.insurancejournal.com/?p=348111 ACE Group announced the appointment of Blain Waterford to the newly created role of vice president & deputy head of its accident & health business in Asia Pacific. In his new capacity, Waterford will head direct marketing, telemarketing, mobile assurance, …

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IKEA, Ikano Group Testing Affordable Accident & Health Cover in Sweden http://www.insurancejournal.com/news/international/2014/11/25/347854.htm Tue, 25 Nov 2014 09:30:45 +0000 http://www.insurancejournal.com/?p=347854 OMIFALL, a Swedish health insurance product for pregnant women and children, came about as a “mutual dream” between home furnishings icon IKEA and its sister company, Ikano Group. The dream was to create and easily distribute an affordable alternative to …

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India’s Opposition Party Could Support Insurance Industry Liberalization http://www.insurancejournal.com/news/international/2014/11/25/348104.htm Tue, 25 Nov 2014 08:11:44 +0000 http://www.insurancejournal.com/?p=348104 India’s main opposition Congress party signaled on Monday it could support government legislation to liberalize the insurance industry, a long-delayed reform expected to help improve investor confidence. Prime Minister Narendra Modi proposed in August to lift the cap on foreign …

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Documents At End of AIG Bailout Testimony Could Aid Greenberg http://www.insurancejournal.com/news/national/2014/11/24/348099.htm Mon, 24 Nov 2014 23:46:09 +0000 http://www.insurancejournal.com/?p=348099 The Federal Reserve Bank of New York’s legal advisers sought to devise ways to avoid accountability to shareholders in the 2008 bailout of American International Group Inc., according to evidence introduced at the end of trial testimony over terms of …

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Superstorm Sandy Victims Allege Racketeering in Flood Claims Review http://www.insurancejournal.com/news/east/2014/11/24/348082.htm Mon, 24 Nov 2014 22:14:00 +0000 http://www.insurancejournal.com/?p=348082 Wright National Flood Insurance Co. and U.S. Forensic LLC, an engineering firm, were sued by New York homeowners who claim the companies conspired to manipulate reports and avoid paying for damages from Hurricane Sandy in 2012. Wright, which provides coverage …

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Fasten Your Seatbelts, Flying Cars Could Take-Off Within 3 Years http://www.insurancejournal.com/news/national/2014/11/24/348081.htm Mon, 24 Nov 2014 22:11:48 +0000 http://www.insurancejournal.com/?p=348081 The first time Carl Dietrich brought his flying-car concept to the Experimental Aircraft Association’s annual AirVenture gathering in Oshkosh, Wisconsin, he had only a video to show the aviation geeks who wandered by his modest stall. The following year, he …

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First Louisiana Flood Board Oil Suit Settlement Earmarked for Coast http://www.insurancejournal.com/news/southcentral/2014/11/24/347964.htm Mon, 24 Nov 2014 17:55:42 +0000 http://www.insurancejournal.com/?p=347964 Money from the first and only settlement so far in a Louisiana flood board’s lawsuit against dozens of energy companies will be placed in a special account dedicated to coastal restoration. The Southeast Louisiana Flood Protection Authority-East voted to establish …

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N.Y. Sen. Schumer: Near Misses Show Need for Drone Regulations http://www.insurancejournal.com/news/east/2014/11/24/347949.htm Mon, 24 Nov 2014 17:54:08 +0000 http://www.insurancejournal.com/?p=347949 U.S. Sen. Charles Schumer, D-N.Y., says recent near misses between aerial drones and aircraft at New York City’s Kennedy Airport show the need for federal regulations on the small, remote controlled aircraft. The New York Democrat said Sunday that three …

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