Insurance Journal » National News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 Oct 2014 21:43:30 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 12 Articles on Ebola Risk and Insurance http://www.insurancejournal.com/news/national/2014/10/24/344767.htm Fri, 24 Oct 2014 18:55:13 +0000 http://www.insurancejournal.com/?p=344767 1. Ebola ‘Tipping Point’ Could Come By Late January, Reports RMS Until the number of new daily cases declines rather than increases, the severity of the outbreak will continue to multiply. RMS said it does not expect this outbreak of …

The article 12 Articles on Ebola Risk and Insurance appeared first on Insurance Journal.

]]>
Various Insurance Lines Could Potentially Be Affected by Ebola http://www.insurancejournal.com/news/national/2014/10/24/344759.htm Fri, 24 Oct 2014 18:30:06 +0000 http://www.insurancejournal.com/?p=344759 As fears of an Ebola pandemic spread, many U.S. businesses are wondering if insurance will cover any complications that may arise. According to experts, the outbreak could potentially impact several insurance lines. According to Randy Nornes, executive vice president at …

The article Various Insurance Lines Could Potentially Be Affected by Ebola appeared first on Insurance Journal.

]]>
W.R. Berkley’s Q3 Net Income Rises 37% to $189M http://www.insurancejournal.com/news/national/2014/10/24/344739.htm Fri, 24 Oct 2014 16:59:07 +0000 http://www.insurancejournal.com/?p=344739 W.R. Berkley Corp. posted $188.54 million net income for its 2014 third quarter, a 37.7 percent increase from $136.97 million net income reported a year ago. The Greenwich, Connecticut-based insurer’s net premiums written for the third quarter were $1.525 billion, …

The article W.R. Berkley’s Q3 Net Income Rises 37% to $189M appeared first on Insurance Journal.

]]>
XL North America P/C Names Nadeau As Chief Operating Officer http://www.insurancejournal.com/news/national/2014/10/24/344704.htm Fri, 24 Oct 2014 14:19:23 +0000 http://www.insurancejournal.com/?p=344704 XL Group’s North America Property & Casualty (NAPC) insurance business has promoted Donna Nadeau to the position of chief operating office, reporting to Joe Tocco, NAPC chief executive.  Nadeau previously served as NAPC’s chief actuary. Nadeau assumes the COO role …

The article XL North America P/C Names Nadeau As Chief Operating Officer appeared first on Insurance Journal.

]]>
Chubb Reports ‘Outstanding’ Q3 http://www.insurancejournal.com/news/national/2014/10/24/344689.htm Fri, 24 Oct 2014 13:04:36 +0000 http://www.insurancejournal.com/?p=344689 Calmer weather, rate increases, high account retention and lower expenses powered The Chubb Corp. to a what the firm’s CEO said was an “outstanding” third quarter. The New Jersey-based insurer reported that net income in the third quarter of 2014 …

The article Chubb Reports ‘Outstanding’ Q3 appeared first on Insurance Journal.

]]>
Video Game Teaches Kids About Money, Asset Protection and Life http://www.insurancejournal.com/news/national/2014/10/23/344673.htm Fri, 24 Oct 2014 03:19:30 +0000 http://www.insurancejournal.com/?p=344673 If your kids are chattering non-stop about things like emeralds, pickaxes and creepers, you may have a unique opportunity to turn a video game addiction into a life lesson about money. Minecraft, a video game phenomenon with over 100 million …

The article Video Game Teaches Kids About Money, Asset Protection and Life appeared first on Insurance Journal.

]]>
MyPath Portal Aims to Attract Millennials to Insurance Careers http://www.insurancejournal.com/news/national/2014/10/23/344671.htm Fri, 24 Oct 2014 03:10:09 +0000 http://www.insurancejournal.com/?p=344671 With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their solution: MyPath, an online …

The article MyPath Portal Aims to Attract Millennials to Insurance Careers appeared first on Insurance Journal.

]]>
Judge Questions NCAA’s $75 Million Concussion Settlement http://www.insurancejournal.com/news/national/2014/10/23/344657.htm Fri, 24 Oct 2014 01:50:37 +0000 http://www.insurancejournal.com/?p=344657 The National Collegiate Athletic Association’s bid for preliminary approval of its proposed $75 million plan to settle nationwide litigation over head injuries met with skepticism from a federal judge. The agreement announced in July would allow any athlete who ever …

The article Judge Questions NCAA’s $75 Million Concussion Settlement appeared first on Insurance Journal.

]]>
Freedom Specialty, Pro-Praxis Unite for Healthcare Professional Liability http://www.insurancejournal.com/news/national/2014/10/23/344263.htm Thu, 23 Oct 2014 23:00:53 +0000 http://www.insurancejournal.com/?p=344263 Freedom Specialty, an arm of Scottsdale Insurance Co., is partnering with healthcare underwriter Pro-Praxis, part of the Cooper Gay Swett & Crawford Group, for a specialized excess healthcare professional liability program. The Complex Healthcare program is available immediately and can …

The article Freedom Specialty, Pro-Praxis Unite for Healthcare Professional Liability appeared first on Insurance Journal.

]]>
Global Regulators Set Capital Rules for 9 Too-Big-to-Fail Insurers http://www.insurancejournal.com/news/national/2014/10/23/344569.htm Thu, 23 Oct 2014 16:01:49 +0000 http://www.insurancejournal.com/?p=344569 Nine too-big-to-fail insurers, including American International Group Inc., Allianz SE and MetLife Inc., must start reporting capital ratios next year using a method presented by regulators today. The International Association of Insurance Supervisors has completed drafting “the first-ever global insurance …

The article Global Regulators Set Capital Rules for 9 Too-Big-to-Fail Insurers appeared first on Insurance Journal.

]]>
NHTSA Apologizes for Troubled Website, Bulletin on Airbag Defects http://www.insurancejournal.com/news/national/2014/10/23/344528.htm Thu, 23 Oct 2014 10:57:32 +0000 http://www.insurancejournal.com/?p=344528 The National Highway Traffic Safety Administration botched its effort to inform the public about a potentially lethal air-bag defect, directing 8 million consumers to an inoperable website and leaving millions of others unsure as to whether their cars were even …

The article NHTSA Apologizes for Troubled Website, Bulletin on Airbag Defects appeared first on Insurance Journal.

]]>
Chairman of Key House Committee for Insurers Could Face Challenge http://www.insurancejournal.com/news/national/2014/10/23/344526.htm Thu, 23 Oct 2014 10:50:32 +0000 http://www.insurancejournal.com/?p=344526 House Financial Services Committee Chairman Jeb Hensarling is facing a long-shot challenge to his chairmanship from an Oklahoma Republican. Representative Frank Lucas announced he is considering opposing Hensarling for the panel’s gavel. Hensarling, a Texas Republican, under his party’s rules …

The article Chairman of Key House Committee for Insurers Could Face Challenge appeared first on Insurance Journal.

]]>
Some Insurers Exclude Ebola; Others Offer New Products http://www.insurancejournal.com/news/national/2014/10/23/344515.htm Thu, 23 Oct 2014 10:17:28 +0000 http://www.insurancejournal.com/?p=344515 As fear of Ebola infections spreads to developed economies, U.S. and British insurance companies have begun writing Ebola exclusions into standard policies to cover hospitals, event organizers and other businesses vulnerable to local disruptions. As a result, new policies and …

The article Some Insurers Exclude Ebola; Others Offer New Products appeared first on Insurance Journal.

]]>
Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’ http://www.insurancejournal.com/news/national/2014/10/22/344497.htm Thu, 23 Oct 2014 00:06:16 +0000 http://www.insurancejournal.com/?p=344497 A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective of …

The article Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’ appeared first on Insurance Journal.

]]>
ACE’s Greenberg Says TRIA Inaction ‘Shameful’; Defends Ebola Underwriting http://www.insurancejournal.com/news/national/2014/10/22/344403.htm Wed, 22 Oct 2014 14:18:58 +0000 http://www.insurancejournal.com/?p=344403 The failure of Congress to renew federal terrorism reinsurance legislation is “shameful” because both political parties know it needs to be done and their differences are minor, an insurance executive said today. Evan G. Greenberg, chairman and CEO of ACE …

The article ACE’s Greenberg Says TRIA Inaction ‘Shameful’; Defends Ebola Underwriting appeared first on Insurance Journal.

]]>
Average Claims Experience Not Enough to Retain Customers: Accenture http://www.insurancejournal.com/news/national/2014/10/22/344388.htm Wed, 22 Oct 2014 13:29:36 +0000 http://www.insurancejournal.com/?p=344388 Although a large majority (86 percent) of home and auto insurance customers who have submitted a claim in the past two years are satisfied with how it was handled, 41 percent of those who have submitted a claim are still …

The article Average Claims Experience Not Enough to Retain Customers: Accenture appeared first on Insurance Journal.

]]>
Kentucky OxyContin Case Against Purdue Pharma Leads Fight Over Opioid Abuse http://www.insurancejournal.com/news/national/2014/10/22/344370.htm Wed, 22 Oct 2014 13:01:31 +0000 http://www.insurancejournal.com/?p=344370 No one rises as Circuit Judge Steven Combs enters his courtroom in Pikeville, Kentucky. Combs wears a white shirt and yellow tie, no robe. Lawyers approach the bench as their cases are called, shake the judge’s hand and exchange small …

The article Kentucky OxyContin Case Against Purdue Pharma Leads Fight Over Opioid Abuse appeared first on Insurance Journal.

]]>
Western World CEO Mulligan to Retire; COO Livingston to Succeed http://www.insurancejournal.com/news/national/2014/10/22/344378.htm Wed, 22 Oct 2014 12:37:31 +0000 http://www.insurancejournal.com/?p=344378 Thomas F. Mulligan, president and chief executive officer, of Western World Insurance Group announced that he is retiring effective Jan. 1, 2015, after 33 years of continuous service. While Mulligan will continue to participate on the Western World board of …

The article Western World CEO Mulligan to Retire; COO Livingston to Succeed appeared first on Insurance Journal.

]]>
Guardrail Maker Trinity Faces Oct. 31 Deadline for Safety Plan http://www.insurancejournal.com/news/national/2014/10/22/344372.htm Wed, 22 Oct 2014 11:54:59 +0000 http://www.insurancejournal.com/?p=344372 The U.S. said Trinity Industries Inc. must provide a crash-test plan by Oct. 31 following a verdict yesterday that the guardrail system maker duped the government by hiding changes to its product. A Texas jury found yesterday that Trinity had …

The article Guardrail Maker Trinity Faces Oct. 31 Deadline for Safety Plan appeared first on Insurance Journal.

]]>
Starr Launches Cyber Security & Privacy Risk Response on a Primary Basis http://www.insurancejournal.com/news/national/2014/10/22/344312.htm Wed, 22 Oct 2014 10:05:44 +0000 http://www.insurancejournal.com/?p=344312 Starr Companies has launched Security & Privacy Risk Response, a cyber insurance offering that contains coverage for both first- and third-party costs. It is available on a primary basis and supplements Starr’s existing excess cyber insurance capabilities. The product covers …

The article Starr Launches Cyber Security & Privacy Risk Response on a Primary Basis appeared first on Insurance Journal.

]]>
IICF’s Early Literacy Campaign with Sesame Workshop Inspires Parents, Industry http://www.insurancejournal.com/news/national/2014/10/22/344126.htm Wed, 22 Oct 2014 10:00:38 +0000 http://www.insurancejournal.com/?p=344126 It’s been about a year since Elmo and Cookie Monster became part of an industry-wide effort by the Insurance Industry Charitable Foundation (IICF) to promote early literacy, and it isn’t just the kids who have shown their love for the …

The article IICF’s Early Literacy Campaign with Sesame Workshop Inspires Parents, Industry appeared first on Insurance Journal.

]]>
Travelers’ Profit Up 6% for Q3 on Investment Income, Lower Cat Losses http://www.insurancejournal.com/news/national/2014/10/21/344257.htm Tue, 21 Oct 2014 16:16:46 +0000 http://www.insurancejournal.com/?p=344257 The Travelers Companies Inc. today reported net income of $919 million for the quarter ended Sept. 30, 2014, up more than six percent compared to net income of $864 million in the prior year quarter. Operating income in the current …

The article Travelers’ Profit Up 6% for Q3 on Investment Income, Lower Cat Losses appeared first on Insurance Journal.

]]>
CPCU Society Elects Leadership Council Members http://www.insurancejournal.com/news/national/2014/10/21/344247.htm Tue, 21 Oct 2014 15:26:34 +0000 http://www.insurancejournal.com/?p=344247 The CPCU Society elected Leadership Council members for 2014–15 at its annual meeting recently in Anaheim, California. The CPCU (Chartered Property Casualty Underwriter) Society provides resources, educational programs and leadership opportunities for its 23,000 members in the property/casualty insurance industry. …

The article CPCU Society Elects Leadership Council Members appeared first on Insurance Journal.

]]>
Update on Ebola in U.S.: New CDC Protocols, Rapid Response Team, Czar http://www.insurancejournal.com/news/national/2014/10/21/344233.htm Tue, 21 Oct 2014 14:47:13 +0000 http://www.insurancejournal.com/?p=344233 The United States issued stringent new protocols on Monday for health workers treating Ebola victims, directing medical teams to wear protective gear that leaves no skin or hair exposed to prevent medical workers from becoming infected. The new guidelines from …

The article Update on Ebola in U.S.: New CDC Protocols, Rapid Response Team, Czar appeared first on Insurance Journal.

]]>
SterlingRisk Insurance Launches Aircraft Business Income Cover http://www.insurancejournal.com/news/national/2014/10/21/343753.htm Tue, 21 Oct 2014 13:00:02 +0000 http://www.insurancejournal.com/?p=343753 SterlingRisk Insurance, a privately-owned brokerage based in Woodbury, N.Y., has launched aircraft business income coverage designed for both the aircraft owner and operator to protect their expected charter revenue from loss due to unscheduled maintenance and cancelled flights. The product …

The article SterlingRisk Insurance Launches Aircraft Business Income Cover appeared first on Insurance Journal.

]]>
Jury Finds Guardrail Maker Trinity Cheated Government; Liability Could Top $1 Billion http://www.insurancejournal.com/news/national/2014/10/21/344213.htm Tue, 21 Oct 2014 12:56:29 +0000 http://www.insurancejournal.com/?p=344213 Trinity Industries Inc. faces a potential liability of $1 billion after a jury found the company defrauded the U.S. by deliberately withholding information about cost-saving changes to its highway guardrail system that potentially made it more dangerous. Jurors in Marshall, …

The article Jury Finds Guardrail Maker Trinity Cheated Government; Liability Could Top $1 Billion appeared first on Insurance Journal.

]]>
Air Bag Recalls Renew Doubts About Carmakers’ Responses to Defects http://www.insurancejournal.com/news/national/2014/10/21/344202.htm Tue, 21 Oct 2014 12:25:59 +0000 http://www.insurancejournal.com/?p=344202 A deepening crisis involving deadly air bags is shaking confidence in the ability of automakers including Toyota Motor Corp. and Honda Motor Co. to ensure the safety of millions of U.S. drivers. Toyota is advising U.S. owners to keep passengers …

The article Air Bag Recalls Renew Doubts About Carmakers’ Responses to Defects appeared first on Insurance Journal.

]]>
EEOC Investigating Mandatory Retirement Age for Law Firm Partners http://www.insurancejournal.com/news/national/2014/10/21/344200.htm Tue, 21 Oct 2014 12:17:00 +0000 http://www.insurancejournal.com/?p=344200 The Equal Employment Opportunity Commission is investigating whether mandatory retirement provisions at Deloitte LLP violate federal employment law. The American Institute of Certified Public Accountants, the trade association for the profession, entered the fray yesterday, essentially urging the EEOC to …

The article EEOC Investigating Mandatory Retirement Age for Law Firm Partners appeared first on Insurance Journal.

]]>
Aon Activates Ebola Response Task Force, Launches Ebola Response Room http://www.insurancejournal.com/news/national/2014/10/21/344150.htm Tue, 21 Oct 2014 12:07:14 +0000 http://www.insurancejournal.com/?p=344150 Aon plc has activated the Aon Ebola Response Task Force, a team comprised of risk and health professionals worldwide, to monitor the current Ebola outbreak and provide guidance to clients directly and through its newly created Aon Ebola Response Room. …

The article Aon Activates Ebola Response Task Force, Launches Ebola Response Room appeared first on Insurance Journal.

]]>
10 Insurance Myths (Men Are More Likely Than Women to Believe 8 of Them) http://www.insurancejournal.com/news/national/2014/10/21/344167.htm Tue, 21 Oct 2014 10:40:59 +0000 http://www.insurancejournal.com/?p=344167 Men may be more gullible when it comes to insurance myths than women but even women think a number of popular myths about insurance are true, according to a survey by online insurance seller insure.com. Insure.com said it recently surveyed …

The article 10 Insurance Myths (Men Are More Likely Than Women to Believe 8 of Them) appeared first on Insurance Journal.

]]>