Insurance Journal » National News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Sat, 28 Feb 2015 01:03:03 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Former AIG, MetLife Leader Benmosche Dies at 70 http://www.insurancejournal.com/news/national/2015/02/27/358889.htm Fri, 27 Feb 2015 19:20:36 +0000 http://www.insurancejournal.com/?p=358889 Robert Benmosche, the combative former chief executive officer of American International Group Inc. who led the insurer, once the world’s largest, to repay a $182.3 billion taxpayer bailout, has died. He was 70. He died on Friday at NYU Langone …

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LIU Adds Underwriters to Risk Engineering Team http://www.insurancejournal.com/news/national/2015/02/27/358878.htm Fri, 27 Feb 2015 17:52:02 +0000 http://www.insurancejournal.com/?p=358878 Liberty International Underwriters has added five risk engineers to its U.S. and Latin America risk engineering team to focus on energy-related opportunities and civil construction projects in response to the resurgence in America’s energy industry and continued energy growth anticipated …

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Ariel Re Launches Ariel Specialty Insurance Managers http://www.insurancejournal.com/news/national/2015/02/27/358863.htm Fri, 27 Feb 2015 17:39:45 +0000 http://www.insurancejournal.com/?p=358863 Ariel Specialty will commence underwriting E&S property business on March 1st, 2015, with business being written through wholesale brokers only on a limited appointment basis and on behalf of Ariel’s Lloyd’s Syndicate 1910. The new E&S property underwriting unit underwriting …

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Insurance Carriers Plan Increased Hiring in 2015: Survey http://www.insurancejournal.com/news/national/2015/02/27/358833.htm Fri, 27 Feb 2015 15:44:26 +0000 http://www.insurancejournal.com/?p=358833 About two-thirds of insurance carriers expect to hire more employees this year, a new survey finds, According to the semi-annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and Ward Group, 66 percent of all insurance companies intend …

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States Have No Plans If Health Insurance Subsidies End http://www.insurancejournal.com/news/national/2015/02/27/358811.htm Fri, 27 Feb 2015 13:17:45 +0000 http://www.insurancejournal.com/?p=358811 Millions of people could lose health insurance subsidies in the coming months if the Supreme Court sides with opponents of President Barack Obama’s health care overhaul. And one thing was clear last weekend as the nation’s governors gathered in Washington: …

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Activist Goldstein Urges Title Insurer Stewart to Sell http://www.insurancejournal.com/news/national/2015/02/27/358808.htm Fri, 27 Feb 2015 13:12:11 +0000 http://www.insurancejournal.com/?p=358808 Stewart Information Services Corp. is being targeted by activist Phil Goldstein, who is urging a sale of the property title insurer and seeking control of its board. Goldstein’s Bulldog Investors has amassed more than 5 percent of Stewart Information and …

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Climate Change Modeling on Cusp of Paradigm Shift http://www.insurancejournal.com/news/national/2015/02/26/358760.htm Thu, 26 Feb 2015 20:58:27 +0000 http://www.insurancejournal.com/?p=358760 In the face of growing interest in climate change impacts, several big catastrophe modelers said they’ve heard from more clients interested in receiving climate-related data and they believe the field is on the cusp of a change in the way …

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Gaines Named Liberty Mutual National Medical Director, Commercial Insurance http://www.insurancejournal.com/news/national/2015/02/26/358632.htm Thu, 26 Feb 2015 16:00:20 +0000 http://www.insurancejournal.com/?p=358632 Liberty Mutual Insurance has appointed Dr. Will Gaines, MD, MPH, as national medical director of its Commercial Insurance strategic business unit. Gaines is responsible for managing the company’s team of regional medical directors, as well as the strategies and tools …

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Starr Eyes Cuba Travel Insurance Market For Growth http://www.insurancejournal.com/news/national/2015/02/26/358701.htm Thu, 26 Feb 2015 13:45:07 +0000 http://www.insurancejournal.com/?p=358701 Maurice “Hank” Greenberg’s Starr International Co. is pursuing growth in Cuba as the U.S. eases decades-old restrictions on visiting the country. Starr’s travel assistance unit could provide services and insurance to clients who wish to go to Cuba, the Zug, …

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NFL Blows Whistle on Concussion Study Using Helmet Sensors http://www.insurancejournal.com/news/national/2015/02/26/358695.htm Thu, 26 Feb 2015 13:31:05 +0000 http://www.insurancejournal.com/?p=358695 The National Football League has quietly announced that it is suspending a pilot program to track player concussions with helmet sensors. The sensors track the frequency and velocity of hits to the head, and will still be used in other studies from …

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Replacing Unsafe Train Crossings Deemed Too Expensive http://www.insurancejournal.com/news/national/2015/02/26/358689.htm Thu, 26 Feb 2015 12:58:58 +0000 http://www.insurancejournal.com/?p=358689 The bullet train that will whisk passengers between San Francisco and Los Angeles at 200 miles per hour won’t pass through the kinds of intersections that have led to two major commuter-rail accidents this month. That’s because the California High-Speed …

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As Health Data Goes Electronic, Medical ID Theft Increases http://www.insurancejournal.com/news/national/2015/02/26/358580.htm Thu, 26 Feb 2015 09:00:27 +0000 http://www.insurancejournal.com/?p=358580 Medical identity theft jumped 22 percent last year as more U.S. health data becomes electronic and easier for cyber criminals to steal from doctors’ offices, hospitals and insurers. Incidents of medical identity theft in 2014 saw almost 500,000 people fall …

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Aon Launches Maximum Protection Coverage for Directors & Officers http://www.insurancejournal.com/news/national/2015/02/25/358624.htm Wed, 25 Feb 2015 17:53:05 +0000 http://www.insurancejournal.com/?p=358624 Aon Risk Solutions, the global risk management business of Aon plc, has launched Maximum Protection D&O, which provides additional coverage to directors and officers when non-indemnifiable D&O limits are exhausted or do not respond. “One of the greatest risks for …

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Colleges Warned of Liability for Basketball Fans’ Court Storming http://www.insurancejournal.com/news/national/2015/02/25/358578.htm Wed, 25 Feb 2015 13:27:54 +0000 http://www.insurancejournal.com/?p=358578 College basketball’s tradition of storming the court after big upsets poses a potentially devastating liability threat to universities and athletic departments, personal injury lawyers said. Video showed coaches being pushed into tables and fans colliding with players when Kansas State …

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FBI Says It’s Close to Identifying Anthem Hackers http://www.insurancejournal.com/news/national/2015/02/25/358576.htm Wed, 25 Feb 2015 13:03:42 +0000 http://www.insurancejournal.com/?p=358576 The FBI said it’s close to finding the hackers responsible for the attack on health-insurance company Anthem Inc. that exposed personal data on about 80 million customers. Federal Bureau of Investigation officials are still deciding whether to publicly reveal information …

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Berkley: Google’s Entry Into Auto Insurance Should Frighten Agents http://www.insurancejournal.com/news/national/2015/02/24/358522.htm Wed, 25 Feb 2015 00:00:25 +0000 http://www.insurancejournal.com/?p=358522 That Google is getting into auto insurance should have the voice in the head of every agent who sells personal auto coverage saying: “Be afraid, be very afraid.” OK, that’s not exactly how W.R. Berkley Corp. CEO William R. Berkley …

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SIAA Grew Premium to $5.7B, Signed 410 New Member Agencies in 2014 http://www.insurancejournal.com/news/national/2015/02/24/358508.htm Tue, 24 Feb 2015 20:50:19 +0000 http://www.insurancejournal.com/?p=358508 SIAA (Strategic Insurance Agency Alliance) said it grew premium by $901 million in 2014 to $5.7 billion, with 80 percent of its growth coming from existing member agencies. Premium growth with SIAA’s strategic partner companies was up more than $576 …

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Insurance Price Comparison Site Comparenow.com Becomes Compare.com http://www.insurancejournal.com/news/national/2015/02/24/358469.htm Tue, 24 Feb 2015 17:20:44 +0000 http://www.insurancejournal.com/?p=358469 Comparenow.com, an insurance price comparison website in the U.S., will now operate as compare.com, simplifying its name to better align with its services. The company, which has operated as comparenow.com since it launched in March 2013, felt its recent success …

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Supreme Court to Weigh Rejection of Muslim Applicant Over Head Scarf http://www.insurancejournal.com/news/national/2015/02/24/358445.htm Tue, 24 Feb 2015 16:09:25 +0000 http://www.insurancejournal.com/?p=358445 In an era of heightening religious tension worldwide, Abercrombie & Fitch has pulled off a miracle: The retailer managed to unite Christians, Jews, and Muslims, as well as Buddhists, Hindus, Santeros, Sikhs, and Zoroastrians. Lawyers representing all these faiths (and agnostics …

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Financial Markets Warned Aging Population Means End to Savings Glut http://www.insurancejournal.com/news/national/2015/02/24/358431.htm Tue, 24 Feb 2015 14:30:57 +0000 http://www.insurancejournal.com/?p=358431 The global “savings glut” that has driven stocks to record highs and bond yields to record lows will soon start to disappear, leading to higher interest rates around the world as populations age, according to a Barclays study. After three …

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Internet Domain .insurance to Be Available By End of 2015 http://www.insurancejournal.com/news/national/2015/02/24/358428.htm Tue, 24 Feb 2015 13:46:55 +0000 http://www.insurancejournal.com/?p=358428 The top-level Internet domain “.insurance” should be available to to the industry late this year, according to a financial services-backed organization that operates generic domains including “.bank.” The group, fTLD, submitted an application to the domain-approval organization, the Internet Corporation …

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BP Appeals Ruling on Gulf Oil Spill Size http://www.insurancejournal.com/news/national/2015/02/24/358426.htm Tue, 24 Feb 2015 13:39:12 +0000 http://www.insurancejournal.com/?p=358426 BP Plc on Monday appealed a federal judge’s finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 billion in fines. In January, U.S. District Judge Carl Barbier in …

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2014 Workers’ Compensation Rates Ranked by State http://www.insurancejournal.com/news/national/2015/02/23/358401.htm Mon, 23 Feb 2015 19:21:05 +0000 http://www.insurancejournal.com/?p=358401 The median index rate for workers’ compensation insurance fell to an all-time low in 2014 to $1.85 per $100 of payroll. Index rates in 2014 varied from a low of $0.88 in North Dakota to a high of $3.48 in …

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Ullico Increases Fiduciary Liability Limits to $25 Million http://www.insurancejournal.com/news/national/2015/02/23/358397.htm Mon, 23 Feb 2015 18:05:30 +0000 http://www.insurancejournal.com/?p=358397 Ullico Inc.’s property and casualty insurance subsidiary, Ullico Casualty Group, Inc., may offer up to $25 million in multiemployer fiduciary liability insurance in its program with Alterra America Insurance Co., a Markel company. The $10 million increase in coverage is …

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CGSC North America Nabs 3 Senior Executives http://www.insurancejournal.com/news/national/2015/02/23/358346.htm Mon, 23 Feb 2015 15:30:17 +0000 http://www.insurancejournal.com/?p=358346 Wholesale broker CGSC North America has made three senior appointments in its business development, partnerships and marketing operations.  All three will report to Tom Ruggieri, who last October became CEO of CGSC North America, which is part of Cooper Gay …

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NCCI CEO Klingel to Retire in 2016 http://www.insurancejournal.com/news/national/2015/02/23/358342.htm Mon, 23 Feb 2015 15:11:08 +0000 http://www.insurancejournal.com/?p=358342 The National Council on Compensation Insurance (NCCI) announced recently that President and Chief Executive Officer Stephen J. Klingel plans to retire in February 2016. Kilngel came to the organization in late 2002 and has had the third longest CEO tenure …

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U.S. Sends Wrong Health Tax Information http://www.insurancejournal.com/news/national/2015/02/23/358340.htm Mon, 23 Feb 2015 15:01:51 +0000 http://www.insurancejournal.com/?p=358340 The U.S. said it sent 800,000 Americans incorrect information that may affect how much they owe in taxes this year because of subsidies they got to help pay for health insurance under Obamacare. People affected by the error are being …

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Diversity Within Insurance Industry Serves Expanding Nonprofits http://www.insurancejournal.com/news/national/2015/02/23/358332.htm Mon, 23 Feb 2015 14:29:46 +0000 http://www.insurancejournal.com/?p=358332 Nonprofit and social service organizations are as plentiful and diverse as the world itself. To better serve communities, nonprofits must bend, mold and adapt to rapidly changing conditions and so must the insurance industry that serves this specialty market, the …

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2015 Outlook for P/C: Profitable Despite Lower Rates, Says Wells Fargo http://www.insurancejournal.com/news/national/2015/02/20/358189.htm Fri, 20 Feb 2015 16:40:02 +0000 http://www.insurancejournal.com/?p=358189 The commercial property/casualty insurance market should remain stable and profitable in 2015, according to the Wells Fargo Insurance 2015 Insurance Market Outlook. Abundant market capacity and an improving economy have positioned the commercial insurance industry for an extended soft market …

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Willis Names LaSala to Succeed Krauze as North America Chair http://www.insurancejournal.com/news/national/2015/02/20/358185.htm Fri, 20 Feb 2015 16:33:21 +0000 http://www.insurancejournal.com/?p=358185 Global reinsurance and insurance broker Willis Group Holdings has appointed Christine LaSala to be chair of Willis North America. The North America business, which in 2014 reported revenues of more than $1.3 billion, includes 100 retail offices across the United …

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