Insurance Journal » East News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Thu, 24 Apr 2014 01:16:02 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Jones Joins New York Office of Corporate Synergies http://www.insurancejournal.com/news/east/2014/04/23/327099.htm Wed, 23 Apr 2014 15:40:16 +0000 http://www.insurancejournal.com/?p=327099 Kenneth Jones has joined insurance broker Corporate Synergies of Mt. Laurel, New Jersey, as a senior vice president and producer. Jones will join the company’s New York office. He has several decades of experience in the New York metro market, …

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Mass. Regulator on Boston Bombing Claims, TRIA Reauthorization Effort http://www.insurancejournal.com/news/east/2014/04/23/327033.htm Wed, 23 Apr 2014 08:11:11 +0000 http://www.insurancejournal.com/?p=327033 Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160 commercial property and business interruption claims made …

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Vermont Regulators: Updated Law Offers ‘Welcome Option’ for Inactive Captives http://www.insurancejournal.com/news/east/2014/04/23/327031.htm Wed, 23 Apr 2014 07:50:20 +0000 http://www.insurancejournal.com/?p=327031 Vermont’s updated captive insurance law now offers inactive captives in the state a chance to apply for a “dormant” status. Vermont regulators said this latest modification reflects the state’s ongoing effort to introduce new prudent legislation for the captive industry. …

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6 N.J. Residents Charged in Staged Auto Accident Scheme http://www.insurancejournal.com/news/east/2014/04/23/327057.htm Wed, 23 Apr 2014 07:43:51 +0000 http://www.insurancejournal.com/?p=327057 New Jersey authorities say six Passaic County, N.J., residents played roles in a staged-automobile accident scheme that defrauded two insurance companies out of more than $78,000. Acting state Attorney General John Hoffman announced the charges Monday. He said five of …

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Report: Superstorm Sandy’s Fallout Tough on Small Businesses http://www.insurancejournal.com/news/east/2014/04/23/327053.htm Wed, 23 Apr 2014 07:42:06 +0000 http://www.insurancejournal.com/?p=327053 When suburban New York delicatessen owner P.J. Whelan heard the findings of a Federal Reserve Bank of New York poll released Monday on Superstorm Sandy’s effect on small businesses, he began nodding in agreement. “They got those numbers right,” the …

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Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay http://www.insurancejournal.com/news/east/2014/04/23/326911.htm Wed, 23 Apr 2014 07:40:08 +0000 http://www.insurancejournal.com/?p=326911 A newly published study from Rutgers University in New Jersey shows that most state residents strongly support government programs aimed at lowering the likelihood of severe damage from future hurricanes. The study also found, however, that only a small fraction …

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Lockton Technology Practice Expands to East Coast with Groeber http://www.insurancejournal.com/news/east/2014/04/22/326973.htm Tue, 22 Apr 2014 14:48:38 +0000 http://www.insurancejournal.com/?p=326973 Insurance broker Lockton announced that Shannon Groeber has joined its Philadelphia operation as senior vice president, Global Technology & Privacy Practice. Groeber’s addition expands the practice to the East coast. She will provide customized insurance programs and advisory services in …

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Maryland AG Sues BP Over Pension Losses Tied to Gulf Oil Spil http://www.insurancejournal.com/news/east/2014/04/22/326965.htm Tue, 22 Apr 2014 13:21:49 +0000 http://www.insurancejournal.com/?p=326965 Maryland Attorney General Douglas F. Gansler  has sued BP plc. for allegedly making false and misleading statements regarding its commitment to safety reforms and oil spill prevention and response capabilities. Ganlser claims the Maryland State Retirement and Pension System relied …

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Judge Dismisses Suit Challenging New Hampshire Ski Resort Immunity http://www.insurancejournal.com/news/east/2014/04/22/326955.htm Tue, 22 Apr 2014 12:43:53 +0000 http://www.insurancejournal.com/?p=326955 A judge has dismissed a Massachusetts couple’s lawsuit against the operators of a New Hampshire ski area, saying the companies can’t be held liable for a crash between a ski instructor and a teenage boy. Susan and Michael Hanus sued …

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Exxon Denied Appeal of Jury Award Over MTBE in New York City Water http://www.insurancejournal.com/news/east/2014/04/22/326953.htm Tue, 22 Apr 2014 12:40:28 +0000 http://www.insurancejournal.com/?p=326953 The U.S. Supreme Court rejected Exxon Mobil Corp.’s appeal of a $105 million jury verdict it was ordered to pay for contaminating underground water in New York City with a gasoline additive. The Irving, Texas-based oil and gas company argued …

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Rhode Island Homeowners Seek FEMA Grants to Elevate Houses http://www.insurancejournal.com/news/east/2014/04/22/326947.htm Tue, 22 Apr 2014 12:33:23 +0000 http://www.insurancejournal.com/?p=326947 Some Rhode Island residents are seeking federal grant money to help pay for elevating their homes to reduce the risk of flooding —  and avoid spikes in flood insurance rates. Seven homeowners in Barrington who want to elevate their homes …

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Officials in N.Y.’s Nassau County Endorse Speed Cameras in School Zones http://www.insurancejournal.com/news/east/2014/04/21/326902.htm Mon, 21 Apr 2014 19:35:24 +0000 http://www.insurancejournal.com/?p=326902 Officials in Long Island’s Nassau County, in the western part of Long Island, have formally asked for state permission to install up to 56 speed cameras in school zones. The County Legislature unanimously supported the speed camera resolution on April …

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NYC Mayor Pledges to Reform Maligned Sandy Rebuilding Program http://www.insurancejournal.com/news/east/2014/04/21/326896.htm Mon, 21 Apr 2014 19:04:22 +0000 http://www.insurancejournal.com/?p=326896 New York City Mayor Bill de Blasio unveiled a sweeping report on April 17 that examined New York City’s recovery progress from Superstorm Sandy and promised to reform a much-maligned program that was supposed to rebuild wrecked homes. Speaking to …

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N.J. Court Advisory Panel Seeks to Speed Up Civil Cases, Unclog Dockets http://www.insurancejournal.com/news/east/2014/04/21/326891.htm Mon, 21 Apr 2014 18:50:24 +0000 http://www.insurancejournal.com/?p=326891 Lawyers, judges and litigants have often complained they’ve had to wait years for resolution of civil lawsuits, and now New Jersey’s state Supreme Court advisory committee has offered guidelines to try to speed the process. In a report issued April …

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Maine Man Found Guilty of Workers’ Comp Fraud http://www.insurancejournal.com/news/east/2014/04/21/326879.htm Mon, 21 Apr 2014 16:55:39 +0000 http://www.insurancejournal.com/?p=326879 An Aroostook County jury in Maine has convicted a northern Maine man of theft of more than $10,000 in workers’ compensation benefits. Prosecutors said last Friday that 63-year-old Stephen Tucker Sr. received more than $45,000 in benefits after injuring his …

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Rhode Island Gov. Signs Legislation Allowing Digital Proof of Auto Insurance http://www.insurancejournal.com/news/east/2014/04/21/326867.htm Mon, 21 Apr 2014 16:32:09 +0000 http://www.insurancejournal.com/?p=326867 Rhode Island Gov. Lincoln Chafee has signed into law legislation allowing motorists in Rhode Island to use their smartphones to offer police proof they have auto insurance. The bills sponsored by Sen. William Conley Jr. and Rep. Gregg Amore allow …

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N.J. Roofing Co. Exec Admits to Misleading Its Workers’ Comp Carrier http://www.insurancejournal.com/news/east/2014/04/17/326801.htm Fri, 18 Apr 2014 01:58:11 +0000 http://www.insurancejournal.com/?p=326801 Authorities said the president of a roofing company in New Jersey pleaded guilty to providing false and misleading information to the company’s workers’ compensation carrier in order to avoid paying hundreds of thousands of dollars in insurance premiums that he …

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Vermont’s Updated Captive Law to Allow ‘Dormant’ Status for Inactive Captives http://www.insurancejournal.com/news/east/2014/04/17/326778.htm Thu, 17 Apr 2014 22:29:02 +0000 http://www.insurancejournal.com/?p=326778 Vermont’s Gov. Peter Shumlin signed new legislation updating Vermont’s captive law, amending the reciprocal insurer section and creating a new “dormant” status for captives. Officials said the new dormant status establishes an efficient mechanism and an option for captives that …

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Poll Finds New Jerseyans Souring on State’s Sandy Recovery Efforts http://www.insurancejournal.com/news/east/2014/04/17/326732.htm Thu, 17 Apr 2014 16:29:01 +0000 http://www.insurancejournal.com/?p=326732 A new poll finds New Jerseyans are souring on how the state is handling Superstorm Sandy recovery efforts. The Monmouth University/Asbury Park Press poll out Wednesday found public satisfaction with the recovery effort has dropped below 50 percent for the …

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Fireman’s Fund Names Senior Product Director for Healthcare Practice in N.Y. http://www.insurancejournal.com/news/east/2014/04/17/326708.htm Thu, 17 Apr 2014 15:54:55 +0000 http://www.insurancejournal.com/?p=326708 Fireman’s Fund Insurance Company has appointed Mike Midgley to senior product director for healthcare professional liability. He is located in Fireman’s Fund’s New York office.Midgley most recently worked in compliance, product development and risk management for 10 years at American …

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AssuredPartners Acquires CBS Coverage Group in N.Y. http://www.insurancejournal.com/news/east/2014/04/17/326704.htm Thu, 17 Apr 2014 15:14:32 +0000 http://www.insurancejournal.com/?p=326704 AssuredPartners Inc., through its subsidiary Assured SKCG Inc., has recently acquired CBS Coverage Group Inc. in Plainview, N.Y. CBS Coverage Group specializes in commercial insurance, employee benefits and financial planning services, and personal insurance. The firm reports revenues of approximately …

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Griffith Insurance Education Foundation Moves to Pennsylvania http://www.insurancejournal.com/news/east/2014/04/16/326550.htm Wed, 16 Apr 2014 18:13:38 +0000 http://www.insurancejournal.com/?p=326550 The Griffith Insurance Education Foundation announced that, as of April 15, its office will officially relocate from Columbus, Ohio, to Malvern, Penn. In 2012, The Griffith Foundation affiliated with The Institutes, an insurance education provider based in Malvern. The Griffith …

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N.Y. Lawmakers Propose Speed Cameras in School Zones in NYC, Long Island http://www.insurancejournal.com/news/east/2014/04/16/326488.htm Wed, 16 Apr 2014 18:04:18 +0000 http://www.insurancejournal.com/?p=326488 New York State lawmakers are taking aim at lead-footed drivers in New York City and Long Island with a proposal to authorize hundreds of speed cameras in school zones, a plan touted as a way to protect pedestrians and raise …

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New Jersey Officials Fighting to End ‘Epidemic of Driver Inattention’ http://www.insurancejournal.com/news/east/2014/04/16/326487.htm Wed, 16 Apr 2014 17:01:24 +0000 http://www.insurancejournal.com/?p=326487 New Jersey’s Acting Attorney General John Hoffman this week announced the staggering toll driver inattention has taken on New Jersey’s roadways in the past 10 years. Hoffman said New Jersey has experienced a “distracted driving decade” during the past 10 …

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Suspect Sandy Charity Begins Distributing Money http://www.insurancejournal.com/news/east/2014/04/16/326486.htm Wed, 16 Apr 2014 16:59:16 +0000 http://www.insurancejournal.com/?p=326486 A Superstorm Sandy charity that was suspected of fraud has started distributing money nearly a year after a settlement with New Jersey prosecutors. The unregistered Hurricane Sandy Relief Foundation handed out $225,000 to four charitable organizations in New Jersey and …

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Most Sandy Housing Assistance Going to Ocean County in N.J. http://www.insurancejournal.com/news/east/2014/04/16/326485.htm Wed, 16 Apr 2014 16:15:09 +0000 http://www.insurancejournal.com/?p=326485 Records show more than 60 percent of Superstorm Sandy state housing assistance is going to homeowners in Ocean County, N.J. Nearly $14 million of the $23 million spent on the Sandy Housing Rental Assistance Program has helped 5,137 Ocean County …

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Starkweather & Shepley Names Healthcare Risk Specialist in Massachusetts http://www.insurancejournal.com/news/east/2014/04/15/326265.htm Tue, 15 Apr 2014 16:51:35 +0000 http://www.insurancejournal.com/?p=326265 Starkweather & Shepley Insurance Brokerage Inc. has appointed Stephen Primiano as healthcare risk specialist. Primiano will be working out of Starkweather’s Westwood, Mass., location, where he will continue to develop risk management strategies for hospitals, physician practices, assisted living communities, …

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N.J. Residents Providing Valuable Storm-Proofing Ideas for Post-Sandy Rebuilding Efforts http://www.insurancejournal.com/news/east/2014/04/15/326267.htm Tue, 15 Apr 2014 16:48:40 +0000 http://www.insurancejournal.com/?p=326267 While scientists, politicians and engineers ponder ways to better protect New Jersey from storms like Superstorm Sandy, some of the best ideas are coming from those who suffered the most. As the second summer after Sandy approaches, several of the …

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N.Y. Sen.: TRIA Renewal Vital for Economic Development in Cities Across Country http://www.insurancejournal.com/news/east/2014/04/14/326253.htm Mon, 14 Apr 2014 22:21:32 +0000 http://www.insurancejournal.com/?p=326253 The U.S. Senate is close to extending an insurance program Sen. Charles Schumer said is vital to New York’s post-9/11 resurgence and economic development in cities across the country. Schumer, D-N.Y., introduced a bill on April 10 that would extend …

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N.Y. Lawmakers Examining Auto Insurance Costs, Rate Factors http://www.insurancejournal.com/news/east/2014/04/14/326134.htm Mon, 14 Apr 2014 15:29:30 +0000 http://www.insurancejournal.com/?p=326134 Auto insurers use many factors, including a motorist’s education and occupation, to accurately gauge their risk, industry representatives told state lawmakers on April 10, a week after a consumer advocacy group called the practice unfair. “The more accurate we can …

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