Insurance Journal » National News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 28 Nov 2014 10:00:19 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Judge Denies GM Bid to Merge California, New York Ignition Switch Suits http://www.insurancejournal.com/news/national/2014/11/28/348404.htm Fri, 28 Nov 2014 10:00:19 +0000 http://www.insurancejournal.com/?p=348404 General Motors Co. lost a bid to merge a California county prosecutor’s lawsuit over faulty ignition switches with customer cases pending in New York that make similar accusations about the carmaker’s conduct and demand monetary compensation. U.S. District Judge Jesse …

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Insurers’ Winter Storm Losses to Climb Due to Polar Vortex: I.I.I. http://www.insurancejournal.com/news/national/2014/11/26/348372.htm Wed, 26 Nov 2014 16:00:31 +0000 http://www.insurancejournal.com/?p=348372 Insured losses from winter storms in the U.S. will climb well above $2.5 billion in 2014, double the annual average over the previous two decades. The Insurance Information Institute says the polar vortex will be responsible for much of the …

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Risk and Insurance Experts Predict Thanksgiving NFL Winners, Losers http://www.insurancejournal.com/news/national/2014/11/26/348326.htm Wed, 26 Nov 2014 15:51:02 +0000 http://www.insurancejournal.com/?p=348326 Ah, Thanksgiving. A time for family, good meals and joy – unless your team epically fails on national television, stirring your gut into an acidic cauldron of turkey, stuffing, cranberry sauce and mounting indigestion. It can be a risk to …

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Vaccine Claims System Slow to Compensate Injured http://www.insurancejournal.com/news/national/2014/11/26/348385.htm Wed, 26 Nov 2014 14:32:49 +0000 http://www.insurancejournal.com/?p=348385 All but broken by her son’s violent and unexplained seizures, by so many panicked trips from the crib to the emergency room, Jeffrey McCord’s mom thought her desperate search for both answers and help was finally over. A respected neurologist …

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More Than 65,000 Firefighters Injured on Job in 2013 http://www.insurancejournal.com/news/national/2014/11/26/348375.htm Wed, 26 Nov 2014 13:45:39 +0000 http://www.insurancejournal.com/?p=348375 In 2013, 65,880 firefighter injuries occurred in the line of duty, a decrease of 5.1 percent from the previous year. Of those injuries, 29,760 (45.2 percent) occurred during fireground operations, with the leading causes reported as overexertion, strain (26.5 percent) …

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Turkey, Chicken Farms Recognized with Safety Awards http://www.insurancejournal.com/news/national/2014/11/26/348231.htm Wed, 26 Nov 2014 10:00:47 +0000 http://www.insurancejournal.com/?p=348231 Ninety-six chicken and turkey facilities across the country have been recognized for achieving outstanding safety performance through the implementation of employee safety and health programs. The Joint Industry Safety and Health Council presented the annual safety awards  during the 2014 …

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Should Schools Monitor Students’ Social Media Use? http://www.insurancejournal.com/news/national/2014/11/26/348218.htm Wed, 26 Nov 2014 09:00:29 +0000 http://www.insurancejournal.com/?p=348218 The electronic devices that give students instant access to the world for educational purposes are also their conduit to social media, and that presents a host of problems for school administrators. Every school district in Lawrence, Limestone and Morgan counties …

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Prescription Benefit Managers Excluding More High-Priced Drugs http://www.insurancejournal.com/news/national/2014/11/26/348137.htm Wed, 26 Nov 2014 09:00:17 +0000 http://www.insurancejournal.com/?p=348137 Steve Miller is waging war on high- priced medicine, guiding decisions to ban drugs from the health plans of millions of Americans and sending companies reeling in a $270 billion market. He and his colleagues at Express Scripts Holding Co. …

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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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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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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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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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Quiet Atlantic Hurricane Season Coming to End http://www.insurancejournal.com/news/national/2014/11/24/347929.htm Mon, 24 Nov 2014 17:32:22 +0000 http://www.insurancejournal.com/?p=347929 The Atlantic hurricane season will officially end November 30, and will be remembered as a relatively quiet season as was predicted, according to weather scientists at the National Oceanic and Atmospheric Administration (NOAA). “Fortunately, much of the U.S. coastline was …

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Nationwide, Hartford Steam Boiler Offer Cyber Cover for Small Business Owners http://www.insurancejournal.com/news/national/2014/11/24/347795.htm Mon, 24 Nov 2014 16:17:17 +0000 http://www.insurancejournal.com/?p=347795 As more than half of all U.S. small businesses have experienced a data breach, Nationwide has joined forces with Hartford Steam Boiler (HSB) to offer cyber insurance coverage for small business owners. The services and coverages help small businesses respond …

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FHA Chief Watt Says Force-Placed Home Insurance Changes ‘Tough’ http://www.insurancejournal.com/news/national/2014/11/24/347906.htm Mon, 24 Nov 2014 15:32:13 +0000 http://www.insurancejournal.com/?p=347906 The Federal Housing Finance Agency has yet to deliver on changes to a controversial type of homeowners’ insurance even as its director told the Senate Banking Committee last week that it’s making progress. So-called force-placed insurance, which banks buy to …

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Employee Loyalty Highest at Small, Local Businesses http://www.insurancejournal.com/news/national/2014/11/24/347888.htm Mon, 24 Nov 2014 15:00:39 +0000 http://www.insurancejournal.com/?p=347888 Employees of small, locally owned businesses have the highest level of loyalty to their employers — and for rural workers, size and ownership of their company figure even more into their commitment than job satisfaction does, according to Baylor University …

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Whistleblower Tips, Award Amount Increased in 2014, Reports SEC http://www.insurancejournal.com/news/national/2014/11/24/347876.htm Mon, 24 Nov 2014 13:58:01 +0000 http://www.insurancejournal.com/?p=347876 The U.S. Securities and Exchange Commission received more than 3,500 tips from whistleblowers in fiscal year 2014, the largest number received since the program went into effect three years ago. The SEC announced the increase in its Nov. 17 annual …

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House Republicans Sue Obama Over Delay in Health Insurance Mandate http://www.insurancejournal.com/news/national/2014/11/24/347871.htm Mon, 24 Nov 2014 13:29:08 +0000 http://www.insurancejournal.com/?p=347871 U.S. House Republicans sued President Barack Obama’s administration over implementation of the 2010 healthcare law, saying the president exceeded his authority by delaying part of the program. The complaint filed yesterday in Washington federal court said the president unlawfully postponed …

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Target: Retailer Owes No Duty to Banks in Data Breach http://www.insurancejournal.com/news/national/2014/11/23/347859.htm Mon, 24 Nov 2014 02:39:00 +0000 http://www.insurancejournal.com/?p=347859 A Target Corp. lawyer told a judge that the company had no legal obligation to banks that claim to have lost tens of millions of dollars after a hack last year on the retailer’s payment processing systems. Target didn’t have …

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Home-Sharing Service Airbnb Offers $1M Host Liability Policy http://www.insurancejournal.com/news/national/2014/11/21/347735.htm Fri, 21 Nov 2014 18:07:11 +0000 http://www.insurancejournal.com/?p=347735 The fast-growing online residential space sharing service Airbnb has added a $1 million liability insurance policy that protects those, including landlords and homeowners associations, facing lawsuits related to the renting of their properties through the service. The new Host Protection …

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When P/C Insurance Carriers Can Cancel: The ‘Underwriting Period’ by State http://www.insurancejournal.com/news/national/2014/11/21/347749.htm Fri, 21 Nov 2014 15:54:29 +0000 http://www.insurancejournal.com/?p=347749 Every state extends insurance carriers the right to cancel a newly-written policy during the first days of the policy period. This is commonly known as the new policy “underwriting period.” An underwriting period allows the insurance carrier time to inspect …

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Honda: Require Car Owners to Comply with Recalls http://www.insurancejournal.com/news/national/2014/11/21/347728.htm Fri, 21 Nov 2014 11:45:28 +0000 http://www.insurancejournal.com/?p=347728 Honda Motor Co. wants regulators to make U.S. motorists comply with carmakers’ recall notices. Amid reports of people killed because they didn’t know their cars had a defect, an executive with the Japan-based carmaker urged state and federal regulators to …

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XL Group Adds Fleet Safety Service to Construction Insurance http://www.insurancejournal.com/news/national/2014/11/21/347564.htm Fri, 21 Nov 2014 11:30:39 +0000 http://www.insurancejournal.com/?p=347564 As nearly half of all construction fatalities involve a vehicle, XL Group North America Construction has added fleet safety training services to its construction insurance business in collaboration with Issaquah, Washington-based SWERVE Fleet Training. Contractors face significant vehicle risks both …

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How Carriers Are Handling Property Cat Renewals, Terrorism, Ebola: NAPCO http://www.insurancejournal.com/news/national/2014/11/21/347629.htm Fri, 21 Nov 2014 10:03:13 +0000 http://www.insurancejournal.com/?p=347629 Property/catastrophe insurers have been focused on winning new business, which means new customers are seeing bigger price cuts, according to a market report from a wholesale broker specializing in catastrophe risk placements. NAPCO’s Fall 2014 State of the Market report …

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Hospitals Improvise on Safety to Treat Ebola Patients http://www.insurancejournal.com/news/national/2014/11/21/347641.htm Fri, 21 Nov 2014 10:01:04 +0000 http://www.insurancejournal.com/?p=347641 What does it take to Ebola-proof a hospital? Over the past few months, U.S. medical centers have spent millions of dollars putting together a plan to treat patients with the scary, but extremely rare disease. To a large extent, it …

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Montana’s Lindeen Elected NAIC President http://www.insurancejournal.com/news/national/2014/11/20/347631.htm Thu, 20 Nov 2014 18:14:07 +0000 http://www.insurancejournal.com/?p=347631 Members of the National Association of Insurance Commissioners (NAIC) have elected 2015 officers who  will assume their duties on Jan. 1, 2015. President: Montana State Auditor and Commissioner of Securities and Insurance Monica J. Lindeen President-Elect: Pennsylvania Insurance Commissioner Michael …

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8 Million Cars Recalled for Air Bags; Only 6% Repaired: Bloomberg http://www.insurancejournal.com/news/national/2014/11/20/347656.htm Thu, 20 Nov 2014 17:11:41 +0000 http://www.insurancejournal.com/?p=347656 Honda Motor Co., Toyota Motor Corp. and other major automakers have fixed only a fraction of the almost 8 million cars called back in the last two years to replace potentially defective Takata Corp. air bags. About 6 percent of …

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Staples Still Tallying Costs of Data Breach http://www.insurancejournal.com/news/national/2014/11/20/347627.htm Thu, 20 Nov 2014 14:00:43 +0000 http://www.insurancejournal.com/?p=347627 Staples Inc., the world’s largest office-supply chain, said it can’t yet “reasonably” estimate the potential losses and expenses it will incur in connection with the possible credit-card data breach disclosed last month. While the company said it believes the malware …

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Farm Bill Costs Soar Despite Great Harvest http://www.insurancejournal.com/news/national/2014/11/20/347622.htm Thu, 20 Nov 2014 13:58:07 +0000 http://www.insurancejournal.com/?p=347622 U.S. farmers are about to reap a bumper harvest not just in corn and soybeans but also in new subsidies that could soar to $10 billion, blowing a hole in the government’s promise that its new five-year farm bill would …

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