Insurance Journal » East News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 03 Mar 2015 02:48:54 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Arthur J. Gallagher Acquires Excel Insurance, Metcom Excess in N.J. http://www.insurancejournal.com/news/east/2015/03/02/359036.htm Mon, 02 Mar 2015 21:24:42 +0000 http://www.insurancejournal.com/?p=359036 Arthur J. Gallagher & Co. announced the acquisition of two New Jersey-based wholesale brokers: Excel Insurance Services Inc., located in Hamilton; and McCloskey Surplus & Excess Inc. (d/b/a Metcom Excess), located in Ridgefield Park. Terms of the transactions were not …

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Former Penn. Commissioner Consedine Joins Transamerica to Lead Gov’t Affairs http://www.insurancejournal.com/news/east/2015/03/02/359031.htm Mon, 02 Mar 2015 21:10:08 +0000 http://www.insurancejournal.com/?p=359031 Transamerica, headquartered in Baltimore, Maryland, has appointed former Pennsylvania Insurance Commissioner Michael F. Consedine as senior vice president, deputy general counsel and executive director of government affairs. At Transamerica, Consedine will oversee all aspects of the company’s state and federal …

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Massachusetts Official Surveys Storm Damage Along Coast http://www.insurancejournal.com/news/east/2015/03/02/359016.htm Mon, 02 Mar 2015 17:59:54 +0000 http://www.insurancejournal.com/?p=359016 Parts of the Massachusetts coastline could face a lengthy recovery process after being pummeled by severe winter storms, the state’s top environmental official said on Feb. 27. Secretary of Energy and Environmental Affairs Matthew Beaton was joined by local state …

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MetLife to Pay Government $123.5M in Mortgage Settlement http://www.insurancejournal.com/news/east/2015/03/02/359012.htm Mon, 02 Mar 2015 17:58:37 +0000 http://www.insurancejournal.com/?p=359012 MetLife’s home lending unit will pay $123.5 million to end an investigation into allegations it gave government-backed mortgages to people who didn’t meet federal requirements. The Justice Department said on Feb. 25 that MetLife knew the business was issuing hundreds …

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FEMA Exec Tells ’60 Minutes’ He’s Seen Evidence of Fraudulent Reports http://www.insurancejournal.com/news/east/2015/03/02/359006.htm Mon, 02 Mar 2015 17:53:14 +0000 http://www.insurancejournal.com/?p=359006 The head of Federal Emergency Management Agency’s (FEMA) flood insurance program acknowledged he has seen evidence of fraudulent engineering reports that may have been used to deny flood claims by Superstorm Sandy victims, according to CBS’s “60 Minutes” program that …

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NYC Gets $116M Reimbursement for Sandy-Related Fixes http://www.insurancejournal.com/news/east/2015/02/27/358881.htm Fri, 27 Feb 2015 17:59:30 +0000 http://www.insurancejournal.com/?p=358881 The federal government is sending $116 million to New York City to compensate for funds spent in a program that made flooded homes habitable after Superstorm Sandy. Sens. Charles Schumer and Kirsten Gillibrand were joined by New York City Mayor …

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Insurers Targeted in Proposed N.Y. Corporate Whistleblower Protection Law http://www.insurancejournal.com/news/east/2015/02/26/358770.htm Thu, 26 Feb 2015 23:18:37 +0000 http://www.insurancejournal.com/?p=358770 Employees who report illegal activity in insurance, banking and financial services would be protected and compensated for their trouble under new legislation proposed by New York State Attorney General Eric Schneiderman. The new bill comes as the issue is getting …

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N.Y.’s Lawsky: Cybersecurity Likely Most Important Issue DFS Will Face in 2015 http://www.insurancejournal.com/news/east/2015/02/26/358751.htm Thu, 26 Feb 2015 20:45:12 +0000 http://www.insurancejournal.com/?p=358751 Cybersecurity is likely the most important issue that the New York Department of Financial Services (DFS) will face in 2015, and perhaps for many years to come after that, New York Financial Services Superintendent Benjamin Lawsky said in a speech …

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New York to Be Reimbursed $32M for Ebola Readiness, Treatment http://www.insurancejournal.com/news/east/2015/02/26/358745.htm Thu, 26 Feb 2015 18:00:47 +0000 http://www.insurancejournal.com/?p=358745 U.S. Senator Charles Schumer (D-N.Y.) says the federal government is allocating $32 million to the state of New York to cover all expenses related to Ebola readiness and treatment. Schumer says that money from the federal Department of Health and …

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This Winter Season Is 1 of Snowiest on Record for Boston http://www.insurancejournal.com/news/east/2015/02/26/358737.htm Thu, 26 Feb 2015 17:28:49 +0000 http://www.insurancejournal.com/?p=358737 With 1.9 inches of snow overnight on Tuesday, Boston has now received more than 100 inches of snow this winter. The National Weather Service reported Wednesday that the snowfall as recorded at Logan International Airport is now 101.8 inches for …

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Former Northern N.J. Mayor Pleads Guilty to Insurance Fraud Charge http://www.insurancejournal.com/news/east/2015/02/26/358731.htm Thu, 26 Feb 2015 17:12:26 +0000 http://www.insurancejournal.com/?p=358731 A former northern New Jersey mayor has admitted making false statements to police and an insurance company in a bid to cover up a hit-and-run accident. Former Roselle Mayor Garrett Smith pleaded guilty Tuesday to insurance fraud, one day before …

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Rhode Island’s Risco Insurance Brokerage Hires Giuliani as Assistant VP http://www.insurancejournal.com/news/east/2015/02/26/358705.htm Thu, 26 Feb 2015 16:54:22 +0000 http://www.insurancejournal.com/?p=358705 Risco Insurance Brokerage Inc. has hired Christina Giuliani as assistant vice president and wholesale broker for the New England Territory. She is based in Risco’s East Providence, Rhode Island, office and will also work out of the Fort Myers, Florida, …

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N.Y. Regulator Lawsky Says Banks Need Money-Laundering Spot Checks http://www.insurancejournal.com/news/east/2015/02/25/358638.htm Wed, 25 Feb 2015 21:25:53 +0000 http://www.insurancejournal.com/?p=358638 New York’s banking regulator floated a plan Wednesday to spot-check banks’ money laundering controls and hold executives accountable if they fail. Benjamin Lawsky, superintendent of New York’s Department of Financial Services, made the remarks in a speech at Columbia Law …

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New Jersey’s Selective Insurance Hires Eden as Head of Commercial Lines http://www.insurancejournal.com/news/east/2015/02/25/358598.htm Wed, 25 Feb 2015 18:00:00 +0000 http://www.insurancejournal.com/?p=358598 Selective Insurance Group Inc. in Branchville, New Jersey, has hired Douglas T. Eden as executive vice president, head of commercial lines. Eden will assume responsibility for all aspects of standard commercial lines operations, including all regional management. Eden has spent …

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N.J. Bill Seeks to Prohibit Home Insurers From Raising Rates After Single Claim http://www.insurancejournal.com/news/east/2015/02/25/358626.htm Wed, 25 Feb 2015 17:59:06 +0000 http://www.insurancejournal.com/?p=358626 A bill currently under consideration in the New Jersey Assembly would prohibit insurance companies from increasing the homeowners insurance policy’s premium based on one claim filed during the policy’s coverage period. The Assembly Bill 4170 (An act concerning homeowners insurance …

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Mass. Gov. Baker: Federal Officials Encouraging on Disaster Relief http://www.insurancejournal.com/news/east/2015/02/25/358593.htm Wed, 25 Feb 2015 17:09:23 +0000 http://www.insurancejournal.com/?p=358593 Massachusetts Gov. Charlie Baker said Monday he’s gotten encouraging signs from federal officials as he’s begun reaching out to them with Massachusetts preparing a formal request for disaster relief following the spate of snowstorms. Back home after a National Governors …

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Twice-Wounded Sandy Victims Seek Payout as FEMA Presses Insurers http://www.insurancejournal.com/news/east/2015/02/25/358584.htm Wed, 25 Feb 2015 14:41:06 +0000 http://www.insurancejournal.com/?p=358584 Some homeowners hit by Hurricane Sandy say they’ve been victimized twice: first by the storm and later by insurers. John Clancy says his insurer, an Allstate Corp. unit, paid just $46,000 of the more than $200,000 in repairs needed on …

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Analyst: Taxi Medallions No ‘Safe haven’ in Wake of Uber http://www.insurancejournal.com/news/east/2015/02/24/358499.htm Tue, 24 Feb 2015 17:59:42 +0000 http://www.insurancejournal.com/?p=358499 Uber, the popular ride-hailing app, is hitting taxicabs where it hurts: The medallion business. Taxi companies make money by charging drivers for medallions, or licenses to drive their cabs. In a note to investors last week, Jefferies analyst Sean Darby …

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Conn. Senator Urges DOJ to Investigate Auto Insurers’ ‘Preferred’ Repair Shops http://www.insurancejournal.com/news/east/2015/02/24/358485.htm Tue, 24 Feb 2015 17:49:43 +0000 http://www.insurancejournal.com/?p=358485 U.S. Senator Richard Blumenthal (D-Conn.) is urging the Department of Justice (DOJ) to investigate a recently aired CNN report’s allegation that auto insurers may be pressuring consumers to repair their vehicles at the insurers’ preferred repair shops. “Contrary to what …

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Integro Hires Santoleri as Health Care Senior VP in Philadelphia http://www.insurancejournal.com/news/east/2015/02/24/358443.htm Tue, 24 Feb 2015 16:38:01 +0000 http://www.insurancejournal.com/?p=358443 Insurance brokerage and risk management firm Integro has hired Mark Santoleri as health care senior vice president in the Philadelphia office. Santoleri joins from Brooklyn, New York-based Platinum HR Management, where he served as corporate director of risk control, providing …

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N.H. Lawmakers Work to Tackle High Workers’ Comp Costs http://www.insurancejournal.com/news/east/2015/02/23/358382.htm Mon, 23 Feb 2015 17:50:50 +0000 http://www.insurancejournal.com/?p=358382 If a worker in New Hampshire gets hurt on the job, an anesthetic injection can cost $763 under a workers’ compensation claim, compared to $298 for non-work related injuries. Surgical treatment for tendinitis in the shoulder costs about $2,200 if …

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New Jersey’s U.S. Senators Seek Probe of Any Sandy Insurer Fraud http://www.insurancejournal.com/news/east/2015/02/23/358377.htm Mon, 23 Feb 2015 17:32:22 +0000 http://www.insurancejournal.com/?p=358377 New Jersey’s U.S. senators want the state attorney general’s office to investigate possible fraud by insurance companies following Superstorm Sandy. Sens. Robert Menendez and Cory Booker asked Acting Attorney General John Jay Hoffman to investigate any fraud by insurers looking …

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Glatfelter Promotes Williams to VFIS Senior VP in Pennsylvania http://www.insurancejournal.com/news/east/2015/02/23/358351.htm Mon, 23 Feb 2015 17:17:19 +0000 http://www.insurancejournal.com/?p=358351 Glatfelter Insurance Group in York, Pennsylvania, has promoted Edmund Williams from vice president and program manager to senior vice president and program manager for VFIS, a Glatfelter division that provides insurance, education and consulting services to emergency service organizations. Williams …

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Top Writers of Homeowners, Blizzard-Exposed Commercial Lines in New England http://www.insurancejournal.com/news/east/2015/02/23/358276.htm Mon, 23 Feb 2015 16:51:03 +0000 http://www.insurancejournal.com/?p=358276 This past month’s cycle of blizzards and heavy snowfall in the Boston area and New England have been adding up to a significant impact in the region. The following are the top U.S. writers of homeowners, auto and blizzard-exposed commercial …

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Nationwide to Close Virginia Call Center; 340 Jobs to Leave Area http://www.insurancejournal.com/news/east/2015/02/23/358314.htm Mon, 23 Feb 2015 16:19:09 +0000 http://www.insurancejournal.com/?p=358314 Nationwide Insurance says it will close its Lynchburg, Virginia, call center by the middle of 2016. The News & Advance reports that the move means 340 jobs will leave the area. Nationwide spokesman Eric Hardgrove says the closure is part …

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Roof Collapses Mount Across Boston Region in Weekend Snow, Rain http://www.insurancejournal.com/news/east/2015/02/23/358309.htm Mon, 23 Feb 2015 13:56:09 +0000 http://www.insurancejournal.com/?p=358309 Roofs continue to collapse under record snow across the Boston area, most over warehouses and barns, as the latest weekend storm brings three to five inches of snow, topped off by up to a half-inch of rain in some areas. …

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Business Risk Partners Hires Simmons as E&O Manager in Connecticut http://www.insurancejournal.com/news/east/2015/02/20/358251.htm Fri, 20 Feb 2015 20:22:19 +0000 http://www.insurancejournal.com/?p=358251 Business Risk Partners, a program administrator in specialty insurance, has hired Bruce Simmons as errors and omissions (E&O) manager for miscellaneous professional liability (MPL) and cyber liability products. Simmons is based in Business Risk Partners’ Windsor, Connecticut, office. Business Risk …

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Long Island Engineering Firm Raided in Sandy Investigation http://www.insurancejournal.com/news/east/2015/02/20/358234.htm Fri, 20 Feb 2015 17:49:36 +0000 http://www.insurancejournal.com/?p=358234 The New York attorney general’s office executed a search warrant Wednesday at a Long Island engineering firm that has been accused in civil lawsuits of submitting bogus inspection reports on homes damaged by Superstorm Sandy. Investigators worked throughout the day …

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Wal-Mart Driver Appeals in Bid to Delay Morgan Crash Suit http://www.insurancejournal.com/news/east/2015/02/20/358159.htm Fri, 20 Feb 2015 17:41:30 +0000 http://www.insurancejournal.com/?p=358159 A Wal-Mart driver involved in a highway crash that killed a comic and severely injured actor-comedian Tracy Morgan has asked a judge to reconsider her decision not to delay Morgan’s lawsuit against the company. Truck driver Kevin Roper isn’t a …

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Alliant Hires DeBruin as Construction Services Group VP in Boston http://www.insurancejournal.com/news/east/2015/02/20/358157.htm Fri, 20 Feb 2015 17:33:18 +0000 http://www.insurancejournal.com/?p=358157 Alliant Insurance Services, a specialty insurance brokerage based in Newport Beach, California, has hired Chris DeBruin as vice president and director of claims for the Alliant Construction Services Group. He will be based in Alliant’s Boston office. DeBruin will oversee …

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