Insurance Journal » East News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Mon, 28 Jul 2014 03:12:25 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 Rideshare Firm Lyft Works Out Deal to Operate in New York City http://www.insurancejournal.com/news/east/2014/07/25/335816.htm Fri, 25 Jul 2014 16:57:10 +0000 http://www.insurancejournal.com/?p=335816 New York State officials announced today rideshare firm Lyft has agreed to operate in New York City in full compliance with existing laws and regulations. The announcement comes two weeks after the state’s attorney general’s office and the state’s Department …

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Prosecutors: N.J. Man Falsely Claimed He Was Carjacked http://www.insurancejournal.com/news/east/2014/07/25/335813.htm Fri, 25 Jul 2014 16:10:33 +0000 http://www.insurancejournal.com/?p=335813 Authorities say a central New Jersey man lied when he claimed he had been carjacked by someone who then crashed his vehicle into several parked cars. Union County prosecutors announced Wednesday that 29-year-old Darwin Edward of New Brunswick, N.J., has …

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Penn. Public Utility Commission OKs Emergency Rideshare Permits in Pittsburgh http://www.insurancejournal.com/news/east/2014/07/25/335809.htm Fri, 25 Jul 2014 16:02:30 +0000 http://www.insurancejournal.com/?p=335809 Pennsylvania’s Public Utility Commission approved emergency permits Thursday for two ride-sharing companies to operate in the Pittsburgh area. The PUC had previously obtained cease-and-desist orders — which the San Francisco-based firms Lyft and Uber ignored — over concerns that drivers, …

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Pennsylvania’s MJB Financial Joins Iroquois Group http://www.insurancejournal.com/news/east/2014/07/24/335753.htm Thu, 24 Jul 2014 20:00:45 +0000 http://www.insurancejournal.com/?p=335753 MJB Financial and Insurance Advisors in Drexel Hill, Penn., has joined The Iroquois Group network, according to Michael Brown, agency principal, and Iroquois. The agency joined Iroquois on July 17, according to the announcement. The Iroquois Group, which began in …

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N.Y. Announces $175M Fund to Cover Local Costs of Post-Sandy Rebuilding http://www.insurancejournal.com/news/east/2014/07/24/335741.htm Thu, 24 Jul 2014 16:59:47 +0000 http://www.insurancejournal.com/?p=335741 New York Gov. Andrew Cuomo announced on Wednesday $175 million in funding to cover local governments’ costs to repair and rebuild infrastructure damaged by Superstorm Sandy. When participating in FEMA’s Public Assistance (PA) program, local governments and public entities are …

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Ex-CEO of Prominent NYC Charity Gets Prison for Insurance Scheme http://www.insurancejournal.com/news/east/2014/07/24/335722.htm Thu, 24 Jul 2014 16:39:47 +0000 http://www.insurancejournal.com/?p=335722 The politically connected former CEO of a prominent New York City charity was sentenced to prison Wednesday for helping to steal more than $9 million from the anti-poverty organization. William Rapfogel, who once headed the Metropolitan Council on Jewish Poverty, …

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FM Global in Rhode Island Appoints Global Client Services VP http://www.insurancejournal.com/news/east/2014/07/24/335551.htm Thu, 24 Jul 2014 16:15:38 +0000 http://www.insurancejournal.com/?p=335551 FM Global appointed Peter Pettinicchio as vice president and manager for global client services and sales operations. He is based in FM Global’s Johnston, Rhode Island, headquarters. Pettinicchio joined FM Global in 1978 as a property loss prevention engineer in …

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Mass. Gov. OKs Bill Tying Required Flood Coverage Amount to Mortgage Balance http://www.insurancejournal.com/news/east/2014/07/24/335705.htm Thu, 24 Jul 2014 15:45:18 +0000 http://www.insurancejournal.com/?p=335705 Massachusetts Gov. Deval Patrick on Wednesday signed into law legislation that prohibits creditors from requiring residential property owners to buy flood insurance in an amount that exceeds the balance of their mortgage or the value of a home equity line …

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Pennsylvania Auditor Cites Flaws in Gas Drilling Regulation http://www.insurancejournal.com/news/east/2014/07/23/335616.htm Wed, 23 Jul 2014 16:59:26 +0000 http://www.insurancejournal.com/?p=335616 Strained by the rapid expansion of natural gas drilling in Pennsylvania and limited resources, environmental regulators have failed to adequately monitor well safety or to provide clear and timely information to citizens, the state’s elected auditor said Tuesday. Eugene DePasquale …

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Penn. Insurance Fraud Prevention Authority Appoints Executive Director http://www.insurancejournal.com/news/east/2014/07/23/335554.htm Wed, 23 Jul 2014 16:49:50 +0000 http://www.insurancejournal.com/?p=335554 The Pennsylvania Insurance Fraud Prevention Authority (IFPA) in Mechanicsburg, Penn., has appointed Thomas A. Donahue III as executive director, effective August 5. Donahue succeeds current Executive Director Ralph Burnham who plans to retire. Donahue began his insurance fraud investigation career …

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Critics Want More Details on Superstorm Sandy Spending in New Jersey http://www.insurancejournal.com/news/east/2014/07/23/335553.htm Wed, 23 Jul 2014 16:06:26 +0000 http://www.insurancejournal.com/?p=335553 New Jersey Senate President Steve Sweeney says newly released reports on the state’s biggest Superstorm Sandy recovery projects are not detailed enough. Gov. Chris Christie’s administration released its first integrity monitor reports last week, more than 16 months after Christie …

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Massachusetts Does Well in New Kids Count Report http://www.insurancejournal.com/news/east/2014/07/23/335559.htm Wed, 23 Jul 2014 16:00:44 +0000 http://www.insurancejournal.com/?p=335559 Children in Massachusetts are better off than in any other state in the nation, according to a report released Tuesday. Massachusetts was ranked No. 1 in the overall well-being of children as measured in four categories, according to the 25th …

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Apollo’s Life Insurance Unit Athene Holding Said to Be Examined for Caesars Link http://www.insurancejournal.com/news/east/2014/07/22/335466.htm Tue, 22 Jul 2014 16:54:28 +0000 http://www.insurancejournal.com/?p=335466 Apollo Global Management LLC’s dual stakes in an insurer and the largest operator of U.S. casinos are drawing scrutiny by New York’s top financial regulator, who doesn’t want policyholders exposed to the gambling firm’s debt, a person briefed on the …

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Donegal Group’s Q2 Profit Declines 26% to $1.9M http://www.insurancejournal.com/news/east/2014/07/22/335440.htm Tue, 22 Jul 2014 15:19:12 +0000 http://www.insurancejournal.com/?p=335440 Donegal Group Inc. in Marietta, Pennsylvania, today reported $1.94 million net income for its 2014 second quarter, a decline of 26 percent from $2.63 million net income posted during the 2013 second quarter. The insurer said its second quarter earnings …

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Hanover Offers Insurance Advice for Parents Sending Kids to College http://www.insurancejournal.com/news/east/2014/07/22/335413.htm Tue, 22 Jul 2014 12:47:45 +0000 http://www.insurancejournal.com/?p=335413 The Hanover Insurance Group advises that as new high school graduates get ready to head off to college, parents would be wise to prepare for potential risks and liabilities, and to consider the insurance implications. “Be proud of your child’s …

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After Ordeal, N.J. Legislator Pushes for Video Cameras in New Police Cars http://www.insurancejournal.com/news/east/2014/07/22/335414.htm Tue, 22 Jul 2014 12:46:27 +0000 http://www.insurancejournal.com/?p=335414 For New Jersey Assemblyman Paul Moriarty, putting video cameras in new police cars became personal two years ago when he was arrested for drunken driving and video from a camera mounted on a cruiser helped get the charges dropped and …

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Johns Hopkins Health System to Pay $190M to Settle Hidden Camera Lawsuit http://www.insurancejournal.com/news/east/2014/07/22/335393.htm Tue, 22 Jul 2014 11:22:05 +0000 http://www.insurancejournal.com/?p=335393 Johns Hopkins Health System will pay $190 million to settle a lawsuit on behalf of at least 8,500 women whose pelvic exams were secretly recorded by a gynecologist who later committed suicide. The Baltimore hospital said the settlement will be …

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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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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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ISO Comments on CGL Endorsements for Data Breach Liability Exclusions http://www.insurancejournal.com/news/east/2014/07/18/332655.htm Fri, 18 Jul 2014 19:59:49 +0000 http://www.insurancejournal.com/?p=332655 As data breaches become more prevalent in the workplace, ISO, a member of the Verisk Insurance Solutions group at Verisk Analytics in Jersey City, N.J., has been taking steps to constrain commercial general liability policies based on ISO forms from …

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Employee Wins Comp Benefits in N.Y. After Run-In With Co-Worker’s Husband http://www.insurancejournal.com/news/east/2014/07/18/335271.htm Fri, 18 Jul 2014 19:28:05 +0000 http://www.insurancejournal.com/?p=335271 A former manager at a New York supermarket is due workers’ compensation benefits for his preexisting post-traumatic stress disorder condition, which was exacerbated during his employment because of threatening conduct by a co-worker’s husband, a New York appellate court ruled. …

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NYC Sandy Rebuilding Is Now on Track, Mayor de Blasio Says http://www.insurancejournal.com/news/east/2014/07/18/335255.htm Fri, 18 Jul 2014 16:59:08 +0000 http://www.insurancejournal.com/?p=335255 An often-criticized initiative to rebuild Superstorm Sandy-damaged homes has started work on more than 130, finished 30 and dispensed more than $6.3 million to reimburse homeowners for reconstruction costs, New York City Mayor Bill de Blasio said Thursday. He said …

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Report Says New York 7th in Highway Fatalities http://www.insurancejournal.com/news/east/2014/07/18/335250.htm Fri, 18 Jul 2014 16:52:24 +0000 http://www.insurancejournal.com/?p=335250 Federal data show New York ranked seventh among states with 1,168 highway deaths in 2012. The National Highway Traffic and Safety Administration reports 33,561 road deaths that year nationally, up 3 percent from 2011. New York showed no percentage increase. …

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N.H. Issues Consumer Clarification on ‘Multi-State’ Health Insurance Plans http://www.insurancejournal.com/news/east/2014/07/18/335229.htm Fri, 18 Jul 2014 15:55:08 +0000 http://www.insurancejournal.com/?p=335229 The New Hampshire Insurance Department issued a consumer clarification for state residents Thursday explaining what the term “multi-state” means on the state’s federally facilitated health insurance marketplace, HealthCare.gov. The insurance department explained for New Hampshire residents who have purchased or …

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New York AG Proposes Bill to Blunt Effect of Hobby Lobby Ruling http://www.insurancejournal.com/news/east/2014/07/17/335132.htm Fri, 18 Jul 2014 03:58:40 +0000 http://www.insurancejournal.com/?p=335132 New York Attorney General Eric T. Schneiderman and the state’s Senate Democratic Conference Leader Andrea Stewart-Cousins said today they would propose legislation that would help to shield New York women from the effect of the U.S. Supreme Court’s June 30 …

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Brightway Insurance Opens First Pennsylvania Store http://www.insurancejournal.com/news/east/2014/07/17/335088.htm Thu, 17 Jul 2014 19:18:42 +0000 http://www.insurancejournal.com/?p=335088 The retail insurance franchise Brightway Insurance opened its first store in Pennsylvania. Associate agency owner Ryan George opened Brightway’s first Pennsylvania store in Cranberry Township, near Pittsburgh. He previously spent four years with Luttner Financial Group, where he was an …

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N.Y. DFS Disapproves NYCIRB’s +6.8% Loss Cost Level Change Filing http://www.insurancejournal.com/news/east/2014/07/17/335087.htm Thu, 17 Jul 2014 16:57:20 +0000 http://www.insurancejournal.com/?p=335087 The New York Compensation Insurance Rating Board (NYCIRB) announced in a bulletin yesterday that the New York Department of Financial Services (DFS) issued an opinion and decision letter disapproving the +6.8 percent workers’ compensation loss cost level change filed with …

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New York Regulator Lawsky Proposes ‘BitLicense’ Regulatory Framework http://www.insurancejournal.com/news/east/2014/07/17/335058.htm Thu, 17 Jul 2014 15:38:07 +0000 http://www.insurancejournal.com/?p=335058 New York’s financial regulation chief is proposing a “BitLicense” regulatory regime that he says will protect consumers and root out wrongdoing without stifling innovation by virtual-currency businesses in the state. Companies that store or exchange virtual currencies for cash would …

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