Insurance Journal » East News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Thu, 26 Mar 2015 17:41:00 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Va. Retailer Lumber Liquidators Faces Safety Inquiry http://www.insurancejournal.com/news/east/2015/03/26/362232.htm Thu, 26 Mar 2015 16:36:19 +0000 http://www.insurancejournal.com/?p=362232 The U.S. Consumer Product Safety Commission said Wednesday it is investigating Lumber Liquidators Chinese-made laminate flooring following a national TV broadcast raised concerns over levels of formaldehyde. Chairman Elliot F. Kaye said Wednesday the agency is taking the issue seriously …

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Maryland House, Senate Pass Fracking Bills http://www.insurancejournal.com/news/east/2015/03/26/362228.htm Thu, 26 Mar 2015 16:17:41 +0000 http://www.insurancejournal.com/?p=362228 Legislation that limits when and how fracking could take place in Maryland passed Tuesday in both chambers of the state legislature. Senators voted 29-17 for a bill that holds drilling companies strictly liable for injuries to residents or their property, …

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Traffic Deaths in Maryland Fell to 66-Year Low Last Year http://www.insurancejournal.com/news/east/2015/03/26/362168.htm Thu, 26 Mar 2015 15:16:08 +0000 http://www.insurancejournal.com/?p=362168 Maryland officials say traffic deaths have hit a 66-year low in the state. Transportation officials said at a news conference Tuesday that traffic deaths in Maryland fell to 442 last year. That’s the lowest amount of traffic deaths in the …

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Big Melt Will Start Liberating Boston From Its Record Snowpack http://www.insurancejournal.com/news/east/2015/03/26/362153.htm Thu, 26 Mar 2015 13:39:29 +0000 http://www.insurancejournal.com/?p=362153 The Big Melt is coming. In the next day or so, southern New England and the lower Hudson Valley are going to shed a lot of snowpack as a storm passing just north of the region pulls in warm air …

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The Graham Co. Appoints Health & Human Services Leader in Philadelphia http://www.insurancejournal.com/news/east/2015/03/25/362099.htm Wed, 25 Mar 2015 17:26:42 +0000 http://www.insurancejournal.com/?p=362099 The Graham Company, an insurance brokerage and consulting firm based in Philadelphia, has appointed Vice President Carl M. Bloomfield as new leader of the Health & Human Services Division. Bloomfield replaces Tim Folk, who recently joined Beecher Carlson Insurance Services …

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New Jersey’s Pedestrian Safety Program May Be Making Positive Impact http://www.insurancejournal.com/news/east/2015/03/25/361966.htm Wed, 25 Mar 2015 16:56:05 +0000 http://www.insurancejournal.com/?p=361966 Judging by the number of tickets each year, jaywalking as an infraction draws scant attention from police in New Jersey. The Asbury Park Press reports that in 2010, there were 557 jaywalking tickets issued in the state of New Jersey, …

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2 Mass. Roofing Company Owners Indicted for Alleged Work Comp Fraud http://www.insurancejournal.com/news/east/2015/03/25/362059.htm Wed, 25 Mar 2015 16:15:07 +0000 http://www.insurancejournal.com/?p=362059 Two business owners in Milford, Massachusetts, have been indicted in connection with failing to accurately report their total payroll and workforce to avoid paying hundreds of thousands of dollars in insurance premiums, authorities announced. Massachusetts Attorney General Maura Healey’s office …

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Clark Insurance Hires Joy as Director of Employee Benefits Services in Maine http://www.insurancejournal.com/news/east/2015/03/24/361946.htm Tue, 24 Mar 2015 19:53:38 +0000 http://www.insurancejournal.com/?p=361946 Clark Insurance has hired Christopher Joy to fill the newly created position of director of Employee Benefits Services in the Portland, Maine, office. With more than 15 years of experience in the benefits realm, Joy will oversee account management processes …

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‘Crash and Buy’ Insurance Fraud Schemes Seen Growing in Maryland: MIA http://www.insurancejournal.com/news/east/2015/03/24/361918.htm Tue, 24 Mar 2015 19:07:14 +0000 http://www.insurancejournal.com/?p=361918 The Maryland Insurance Administration (MIA) said “crash and buy” auto insurance schemes are a growing trend in the state. When an uninsured driver crashes, buys insurance, then claims the accident happened after the policy took effect, that is fraud and …

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New York’s Schumer Requests Safety Probe of Imported Flooring http://www.insurancejournal.com/news/east/2015/03/24/361896.htm Tue, 24 Mar 2015 17:04:11 +0000 http://www.insurancejournal.com/?p=361896 U.S. Sen. Charles Schumer (D-New York) is asking the Consumer Product Safety Commission to investigate the safety of Chinese-imported wood laminate flooring from Lumber Liquidators in Toano, Virginia, and initiate recalls if needed. The New York Democrat says federal authorities …

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NAIC Report: New Jersey Tops Nation in Auto Insurance Rates http://www.insurancejournal.com/news/east/2015/03/24/361850.htm Tue, 24 Mar 2015 16:29:26 +0000 http://www.insurancejournal.com/?p=361850 An annual industry report shows New Jersey has the costliest auto insurance rates in the nation. The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the …

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Massachusetts Insurance Federation Appoints Murphy as Executive Director http://www.insurancejournal.com/news/east/2015/03/23/361793.htm Mon, 23 Mar 2015 22:25:37 +0000 http://www.insurancejournal.com/?p=361793 The Massachusetts Insurance Federation has named John P. Murphy as its new executive director, effective March 23. He succeeds James T. Harrington, who retired from the post in February. As executive director, Murphy will manage the Boston-based association’s advocacy on …

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Magna Carta Hires Leong as Chief Claims Officer in New York http://www.insurancejournal.com/news/east/2015/03/23/361781.htm Mon, 23 Mar 2015 20:43:51 +0000 http://www.insurancejournal.com/?p=361781 Magna Carta Companies has hired Kevin W. Leong as vice president and chief claims officer. In his new role, Leong will lead Magna Carta’s national claims division. He is based in Magna Carta’s New York headquarters office. Leong has more …

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Brown & Brown Acquires Assets of Spain Agency in New York http://www.insurancejournal.com/news/east/2015/03/23/361777.htm Mon, 23 Mar 2015 20:19:53 +0000 http://www.insurancejournal.com/?p=361777 Brown & Brown Inc. announced today that its subsidiary Brown & Brown of New York Inc. has acquired certain assets of Spain Agency Inc., an independent agency based in Mahopac, New York. Terms of the transaction were not disclosed. Founded …

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Maryland Bill Moves Ahead to Protect Residents From Fracking Damage http://www.insurancejournal.com/news/east/2015/03/23/361624.htm Mon, 23 Mar 2015 18:23:13 +0000 http://www.insurancejournal.com/?p=361624 Maryland senators on March 20 showed signs of cooperation on the topic of fracking, adopting two amendments to a bill opponents worried was another way of banning the natural gas drilling method. The amendments to the bill lower the number …

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Cross Insurance Acquires Corcoran & Havlin Insurance in Massachusetts http://www.insurancejournal.com/news/east/2015/03/23/361739.htm Mon, 23 Mar 2015 16:53:16 +0000 http://www.insurancejournal.com/?p=361739 Cross Insurance, an independent insurance agency headquartered in Bangor, Maine, announced today it has purchased Corcoran & Havlin Insurance Group, an independent agency in Wellesley, Massachusetts. Terms of the transaction were not disclosed. Corcoran & Havlin’s owners, Jack Keefe and …

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N.H. Senate Committee Not Backing Workers’ Comp Fee Schedule http://www.insurancejournal.com/news/east/2015/03/23/361623.htm Mon, 23 Mar 2015 16:16:29 +0000 http://www.insurancejournal.com/?p=361623 A key policy committee in the New Hampshire Senate is backing a workers’ compensation reform bill that it says will reduce costs by 7.5 percent without imposing a price-fixing mechanism backed by business groups. “This agreement will bring real savings …

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Roger Clemens’ Insurer AIG to Pay for Settlement Reached in Defamation Suit http://www.insurancejournal.com/news/east/2015/03/20/361488.htm Fri, 20 Mar 2015 20:53:26 +0000 http://www.insurancejournal.com/?p=361488 A long-running defamation lawsuit against former Boston Red Sox and New York Yankees pitcher Roger Clemens by his ex-trainer has been settled for an undisclosed amount of money to be paid by his insurer, attorneys said Wednesday after meeting with …

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PIACT Elects New Officers for 2015-16 Administrative Year http://www.insurancejournal.com/news/east/2015/03/20/361455.htm Fri, 20 Mar 2015 19:53:02 +0000 http://www.insurancejournal.com/?p=361455 The Professional Insurance Agents of Connecticut Inc. (PIACT) elected officers during the association’s annual convention, held on March 12 at the Foxwoods Resort Casino in Mashantucket, Conn. Following are the new officers who will lead PIACT in 2015-16: • President: …

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Former Cigna VP Wade Selected to Lead Connecticut Insurance Department http://www.insurancejournal.com/news/east/2015/03/20/361474.htm Fri, 20 Mar 2015 19:32:24 +0000 http://www.insurancejournal.com/?p=361474 Connecticut Governor Dannel P. Malloy today announced that he is nominating Katharine L. Wade to serve as commissioner of the Connecticut Insurance Department. Wade succeeds Thomas B. Leonardi who stepped down from the post to join New York investment banking …

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Yellow Taxis Now Outnumbered by Uber Cars on NYC Streets http://www.insurancejournal.com/news/east/2015/03/20/361465.htm Fri, 20 Mar 2015 19:02:04 +0000 http://www.insurancejournal.com/?p=361465 New York City’s storied yellow cabs are taking a back seat to black cars. Uber cars, often black sedans that can be summoned with smartphone apps, now outnumber the yellow taxis that city riders have hailed with a whistle and …

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New York’s SterlingRisk Hires Krush as New CFO http://www.insurancejournal.com/news/east/2015/03/20/361034.htm Fri, 20 Mar 2015 16:59:06 +0000 http://www.insurancejournal.com/?p=361034 SterlingRisk, an insurance brokerage based in Woodbury, New York, has hired Joanne Krush as chief financial officer of the firm. Krush is based in SterlingRisk’s Woodbury headquarters. She succeeds Mark Landisman who recently left the post. Krush brings more than …

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New York DFS Opens Inquiry Into Price Optimization http://www.insurancejournal.com/news/east/2015/03/20/361413.htm Fri, 20 Mar 2015 16:57:17 +0000 http://www.insurancejournal.com/?p=361413 The New York Department of Financial Services (DFS) on March 18 sent out letters to hundreds of property/casualty insurers operating in the state, seeking information concerning price optimization. New York joins a growing number of states around the country that …

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N.J. Senate OKs Electronic Proof of Insurance, Reverse Rate Evasion Bills http://www.insurancejournal.com/news/east/2015/03/19/361307.htm Thu, 19 Mar 2015 20:49:42 +0000 http://www.insurancejournal.com/?p=361307 New Jersey’s state Senate on March 16 passed a bill (A-3905) that would allow motorists to display proof of auto insurance in either physical or electronic format. The bill was previously approved by the state Assembly and now heads to …

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Domenick & Co. Acquires Human Services Co. in Baltimore http://www.insurancejournal.com/news/east/2015/03/19/361274.htm Thu, 19 Mar 2015 17:56:59 +0000 http://www.insurancejournal.com/?p=361274 Domenick & Company, a Philadelphia-based independent agency specializing in providing property/casualty insurance and risk management services to the nonprofit sector, announced it has acquired the assets of Human Services Company, an independent agency in Baltimore that also caters to the …

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NOAA: Spring Flooding Risk in Western N.Y., Eastern New England http://www.insurancejournal.com/news/east/2015/03/19/361232.htm Thu, 19 Mar 2015 16:29:33 +0000 http://www.insurancejournal.com/?p=361232 According to National Oceanic and Atmospheric Administration’s (NOAA) Spring Outlook released today, rivers in western New York and eastern New England have the greatest risk of spring flooding in part because of heavy snowpack coupled with possible spring rain. Record-breaking …

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GEICO Expands Ridesharing Product to Maryland http://www.insurancejournal.com/news/east/2015/03/19/361233.htm Thu, 19 Mar 2015 16:08:55 +0000 http://www.insurancejournal.com/?p=361233 GEICO is now offering its ridesharing insurance product to Uber (UberX and UberXL), Lyft, Sidecar and other services to approved drivers in Maryland, in addition to Virginia. The product, which replaces the driver’s personal auto policy, provides coverage both for …

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FEMA Official: ‘We Are Undertaking Sweeping Reforms’ at NFIP http://www.insurancejournal.com/news/east/2015/03/19/361220.htm Thu, 19 Mar 2015 16:03:29 +0000 http://www.insurancejournal.com/?p=361220 The Federal Emergency Management Agency said it is working to give every Hurricane Sandy survivor who thinks they may have been defrauded or received less than they were entitled to under their National Flood Insurance Program (NFIP) policy, the opportunity …

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MetLife Circles Back to Landmark NYC Tower It Mostly Left http://www.insurancejournal.com/news/east/2015/03/19/361204.htm Thu, 19 Mar 2015 14:58:00 +0000 http://www.insurancejournal.com/?p=361204 It took almost a decade and a half for MetLife Inc. to determine that Manhattan’s MetLife Building was where it belonged. The biggest U.S. life insurer said Wednesday it will consolidate its New York operations into 200 Park Ave., which …

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Beecher Carlson Adds 2 From Graham Co. in Philadelphia http://www.insurancejournal.com/news/east/2015/03/18/360941.htm Wed, 18 Mar 2015 18:32:14 +0000 http://www.insurancejournal.com/?p=360941 Beecher Carlson Insurance Services LLC, a specialized large account insurance broker, has expanded its National Healthcare Practice with the hiring of Tim Folk as managing director and Christopher Rieser as senior vice president. Folk and Rieser will work out of …

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