Insurance Journal » National News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 28 Jul 2015 21:15:19 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 AIG Hires Dachille as Investment Officer; Buys His Firm http://www.insurancejournal.com/news/national/2015/07/28/376515.htm Tue, 28 Jul 2015 14:36:51 +0000 http://www.insurancejournal.com/?p=376515 American International Group (AIG) has named a new investment officer and is buying the new executive’s firm. Douglas A. Dachille, chief executive officer of New York City-based First Principles Capital Management, LLC, will become executive vice president and chief investment …

The article AIG Hires Dachille as Investment Officer; Buys His Firm appeared first on Insurance Journal.

]]>
The Hartford’s Profit Up in Q2; CEO Addresses M&A Outlook http://www.insurancejournal.com/news/national/2015/07/28/376505.htm Tue, 28 Jul 2015 14:14:05 +0000 http://www.insurancejournal.com/?p=376505 The Hartford reported core earnings of $389 million for the second quarter 2015, an increase of $245 million from $144 million in second quarter 2014. The increase was due in part to improved underwriting results with lower catastrophe costs in …

The article The Hartford’s Profit Up in Q2; CEO Addresses M&A Outlook appeared first on Insurance Journal.

]]>
ACE Names North America Management Team for New Chubb http://www.insurancejournal.com/news/national/2015/07/28/376489.htm Tue, 28 Jul 2015 13:14:26 +0000 http://www.insurancejournal.com/?p=376489 ACE Limited, which announced plans to acquire Chubb for $28 billion earlier this month, has designated a post-merger leadership team for the North American Insurance operations of the combined company. The North America leadership team for the company to be …

The article ACE Names North America Management Team for New Chubb appeared first on Insurance Journal.

]]>
McClelland of Majority Leader’s Staff Joins AIA As VP for Federal Affairs http://www.insurancejournal.com/news/national/2015/07/28/376484.htm Tue, 28 Jul 2015 12:48:19 +0000 http://www.insurancejournal.com/?p=376484 The American Insurance Association (AIA) announced that Wesley R. McClelland will assume the position of vice president for federal affairs effective Sept. 8.  McClelland currently serves as senior policy advisor in the office of House Majority Leader Kevin McCarthy (R-Calif). Before …

The article McClelland of Majority Leader’s Staff Joins AIA As VP for Federal Affairs appeared first on Insurance Journal.

]]>
Tech Firms Collaborating to Make Drone Air Traffic Safe http://www.insurancejournal.com/news/national/2015/07/28/376482.htm Tue, 28 Jul 2015 12:31:28 +0000 http://www.insurancejournal.com/?p=376482 Google Inc., the company that brought order to the Internet, has set its sights on doing the same for the flocks of commercial drones expected to someday clog the skies. The search-engine pioneer is joining some of the biggest companies …

The article Tech Firms Collaborating to Make Drone Air Traffic Safe appeared first on Insurance Journal.

]]>
Hospitals, Drugmakers Could Follow Health Insurer Mergers http://www.insurancejournal.com/news/national/2015/07/28/376478.htm Tue, 28 Jul 2015 10:48:31 +0000 http://www.insurancejournal.com/?p=376478 Anthem Inc’s decision to buy Cigna Corp., forming the largest U.S. health insurer by membership, will likely speed consolidation across the healthcare industry, from hospitals to drugmakers. Anthem announced its proposed $54 billion purchase of Cigna on Friday, just weeks …

The article Hospitals, Drugmakers Could Follow Health Insurer Mergers appeared first on Insurance Journal.

]]>
Toys ‘R’ Us Facing Credit Insurance Woes As It Restructures http://www.insurancejournal.com/news/national/2015/07/28/376476.htm Tue, 28 Jul 2015 10:44:47 +0000 http://www.insurancejournal.com/?p=376476 Insurance companies are cutting back on their coverage of Toys “R” Us Inc. suppliers, bringing another headache to a retailer that has suffered more than two years of losses, people familiar with the matter said. Coface SA and Euler Hermes …

The article Toys ‘R’ Us Facing Credit Insurance Woes As It Restructures appeared first on Insurance Journal.

]]>
Ironshore Launches Umbrella Coverage up to $5M for High Value Homeowners http://www.insurancejournal.com/news/national/2015/07/28/376464.htm Tue, 28 Jul 2015 04:37:08 +0000 http://www.insurancejournal.com/?p=376464 Ironshore Personal Lines is now offering a new umbrella program for high net worth homeowner insureds, with properties valued in excess of $1 million, as complementary liability coverage for losses due to unforeseen legal actions. Ironshore Personal Lines’ umbrella program …

The article Ironshore Launches Umbrella Coverage up to $5M for High Value Homeowners appeared first on Insurance Journal.

]]>
Fiat Chrysler Recall Highlights Cyber Risks of Connected Cars, Telematics http://www.insurancejournal.com/news/national/2015/07/27/376356.htm Mon, 27 Jul 2015 14:35:51 +0000 http://www.insurancejournal.com/?p=376356 Fiat Chrysler will recall 1.4 million vehicles in the United States to install software to prevent hackers from gaining remote control of the engine, steering and other systems in what federal officials said was the first such action of its …

The article Fiat Chrysler Recall Highlights Cyber Risks of Connected Cars, Telematics appeared first on Insurance Journal.

]]>
Movie Theaters Balk at Security Checks Following Shootings http://www.insurancejournal.com/news/national/2015/07/27/376352.htm Mon, 27 Jul 2015 13:42:41 +0000 http://www.insurancejournal.com/?p=376352 American high school students walk through metal detectors each day. The Metropolitan Opera in New York searches the bags and purses of patrons each night, and air travel involves long lines and security checks. But the nation’s movie theaters are …

The article Movie Theaters Balk at Security Checks Following Shootings appeared first on Insurance Journal.

]]>
Senate Moves Export/Import Bank Renewal with Transportation Funding http://www.insurancejournal.com/news/national/2015/07/27/376345.htm Mon, 27 Jul 2015 10:46:48 +0000 http://www.insurancejournal.com/?p=376345 The Senate advanced a proposal to extend the U.S. Export-Import Bank’s charter as part of legislation to finance highways and mass transit for three years. The 67-26 vote during an unusual Sunday session moves forward the Senate’s effort to pass …

The article Senate Moves Export/Import Bank Renewal with Transportation Funding appeared first on Insurance Journal.

]]>
McGraw Hill to Pay $2.2 Billion for SNL Financial http://www.insurancejournal.com/news/national/2015/07/27/376343.htm Mon, 27 Jul 2015 10:34:26 +0000 http://www.insurancejournal.com/?p=376343 McGraw Hill Financial Inc. agreed to buy SNL Financial, the financial news and data services provider owned by buyout firm New Mountain Capital, for about $2.23 billion to add content on the banking and insurance industries. SNL joins a roster …

The article McGraw Hill to Pay $2.2 Billion for SNL Financial appeared first on Insurance Journal.

]]>
ANV Launches Miscellaneous Professional Liability Program in U.S. http://www.insurancejournal.com/news/national/2015/07/27/376329.htm Mon, 27 Jul 2015 04:50:07 +0000 http://www.insurancejournal.com/?p=376329 ANV Underwriters, the international managing general underwriter (MGU) segment of global speciality insurance group ANV, has launched a new North America Miscellaneous Professional Liability (MPL) product and team. The new MPL product expands ANV’s MGU presence in the U.S. market …

The article ANV Launches Miscellaneous Professional Liability Program in U.S. appeared first on Insurance Journal.

]]>
K&K Launches Student Accident Coverage Website http://www.insurancejournal.com/news/national/2015/07/24/376295.htm Fri, 24 Jul 2015 16:57:34 +0000 http://www.insurancejournal.com/?p=376295 K&K Insurance Group, Inc., a subsidiary of Aon plc, has launched a new website at www.PrivateSchoolK12-kk.com offering K-12 student accident coverage. The website is designed for private, non-boarding K-12 schools and offers the ability to quote and purchase insurance online …

The article K&K Launches Student Accident Coverage Website appeared first on Insurance Journal.

]]>
Heffernan Accepting Submissions for Burning Man Insurance Program http://www.insurancejournal.com/news/national/2015/07/24/376292.htm Fri, 24 Jul 2015 16:51:31 +0000 http://www.insurancejournal.com/?p=376292 Heffernan Insurance Brokers, a nationwide independent insurance brokerage, is now accepting submissions through August 9 for the 2015 Burning Man event. Heffernan’s program, called Insurance on the Playa, offers liability coverage for theme camps, art cars and art installations for …

The article Heffernan Accepting Submissions for Burning Man Insurance Program appeared first on Insurance Journal.

]]>
Chubb Reports Q2 Results http://www.insurancejournal.com/news/national/2015/07/24/376234.htm Fri, 24 Jul 2015 13:13:48 +0000 http://www.insurancejournal.com/?p=376234 The Chubb Corp., which on June 30 agreed to be acquired by ACE Limited for $28 billion, reported net income in the second quarter of 2015 totaling $494 million, just a notch below the $499 million achieved in the second …

The article Chubb Reports Q2 Results appeared first on Insurance Journal.

]]>
Firms Interested in Driver Data Collected by Auto Insurers http://www.insurancejournal.com/news/national/2015/07/24/376232.htm Fri, 24 Jul 2015 12:38:46 +0000 http://www.insurancejournal.com/?p=376232 The restaurants and doughnut shops that consumers pass on their commute would love to predict when they’ll be driving by. Their auto insurer may already know, and could be looking for a way to profit from that information. Allstate Corp. …

The article Firms Interested in Driver Data Collected by Auto Insurers appeared first on Insurance Journal.

]]>
Anthem to Buy Cigna, Creating Largest U.S. Health Insurer by Membership http://www.insurancejournal.com/news/national/2015/07/24/376230.htm Fri, 24 Jul 2015 12:13:14 +0000 http://www.insurancejournal.com/?p=376230 Anthem Inc. said on Friday it would buy Cigna Corp in a deal valued at $54.2 billion, creating the largest U.S. health insurer by membership. The deal – the biggest ever in the health insurance industry – comes three weeks …

The article Anthem to Buy Cigna, Creating Largest U.S. Health Insurer by Membership appeared first on Insurance Journal.

]]>
Health Costs in Record Slowdown But Do Consumers Notice? http://www.insurancejournal.com/news/national/2015/07/24/376228.htm Fri, 24 Jul 2015 12:08:15 +0000 http://www.insurancejournal.com/?p=376228 The price of health care has grown more slowly than core consumer prices—what Americans spend on everything except food and energy—over the past five years. It’s the first time that’s happened since record-keeping started in 1959. That’s a remarkable break from decades of health-care prices …

The article Health Costs in Record Slowdown But Do Consumers Notice? appeared first on Insurance Journal.

]]>
Senate Bill Would Expand Big Rig Trucking by Teen Drivers Nationally http://www.insurancejournal.com/news/national/2015/07/23/376142.htm Thu, 23 Jul 2015 12:55:51 +0000 http://www.insurancejournal.com/?p=376142 Drivers as young as 18 years old could be allowed to drive 80,000-pound trucks between states if Congress goes along with a proposal backed by the U.S. trucking industry that safety advocates say would be a disaster. The plan, part …

The article Senate Bill Would Expand Big Rig Trucking by Teen Drivers Nationally appeared first on Insurance Journal.

]]>
Anthem Reported Close to $48B Deal for Cigna http://www.insurancejournal.com/news/national/2015/07/23/376137.htm Thu, 23 Jul 2015 12:39:19 +0000 http://www.insurancejournal.com/?p=376137 Anthem Inc. is near an agreement to buy rival Cigna Corp. for about $48 billion, two people with knowledge of the matter said. A deal would create the largest health insurer in the U.S. after almost a year of talks. …

The article Anthem Reported Close to $48B Deal for Cigna appeared first on Insurance Journal.

]]>
New Chubb Will Preserve Old Chubb’s Agency Culture, Says ACE’s Greenberg http://www.insurancejournal.com/news/national/2015/07/23/376079.htm Thu, 23 Jul 2015 10:31:27 +0000 http://www.insurancejournal.com/?p=376079 The new company formed as a result of ACE Limited’s acquisition of The Chubb Corp. will continue the Chubb practices that have made it a favorite among independent insurance agents, ACE CEO Evan Greenberg has promised. The new company will …

The article New Chubb Will Preserve Old Chubb’s Agency Culture, Says ACE’s Greenberg appeared first on Insurance Journal.

]]>
Willis Partners with HITRUST to Address the Healthcare Industry’s Cyber Exposures http://www.insurancejournal.com/news/national/2015/07/23/376064.htm Thu, 23 Jul 2015 05:19:12 +0000 http://www.insurancejournal.com/?p=376064 The Health Information Trust Alliance (HITRUST), an organization supporting the healthcare industry in advancing the state of information protection, has partnered with Willis North America to identify a common approach and develop products to better align insurance premiums with cyber …

The article Willis Partners with HITRUST to Address the Healthcare Industry’s Cyber Exposures appeared first on Insurance Journal.

]]>
Insured Catastrophe Losses Fell 36% in First Half of 2015 http://www.insurancejournal.com/news/national/2015/07/22/375995.htm Wed, 22 Jul 2015 13:40:21 +0000 http://www.insurancejournal.com/?p=375995 Property/casualty insurers catastrophe losses in North America for the first-half of this year were down 36 percent to $8.1 billion from 2014’s total of $12.6 billion, making it the lightest catastrophe first half since 2010. The $8.1 billion in first-half …

The article Insured Catastrophe Losses Fell 36% in First Half of 2015 appeared first on Insurance Journal.

]]>
How AIG Is Using Cyber Intelligence to Protect Property from Cyber Attacks http://www.insurancejournal.com/news/national/2015/07/22/375991.htm Wed, 22 Jul 2015 13:10:55 +0000 http://www.insurancejournal.com/?p=375991 A three-hour shutdown of the New York Stock Exchange on the same day that a network failure halted all United Airlines flights in the U.S. had people across the country thinking one thing: cyber-attack. It wasn’t, but the July 8 …

The article How AIG Is Using Cyber Intelligence to Protect Property from Cyber Attacks appeared first on Insurance Journal.

]]>
Staged Hacking Shows Vulnerability of Connected Vehicles http://www.insurancejournal.com/news/national/2015/07/22/375987.htm Wed, 22 Jul 2015 12:32:12 +0000 http://www.insurancejournal.com/?p=375987 A pair of veteran cybersecurity researchers have shown they can use the Internet to turn off a car’s engine as it drives, sharply escalating the stakes in the debate about the safety of increasingly connected cars and trucks. Former National …

The article Staged Hacking Shows Vulnerability of Connected Vehicles appeared first on Insurance Journal.

]]>
Travelers Decided to Pass on Buying Chubb: Fishman http://www.insurancejournal.com/news/national/2015/07/22/375981.htm Wed, 22 Jul 2015 10:41:30 +0000 http://www.insurancejournal.com/?p=375981 For Travelers Cos.’ dealmaking Chief Executive Officer Jay Fishman, sometimes it’s OK to let one get away. Fishman said Tuesday that he opted against buying Chubb Corp., which agreed to be purchased by Ace Ltd. for more than $28 billion. …

The article Travelers Decided to Pass on Buying Chubb: Fishman appeared first on Insurance Journal.

]]>
Travelers Q2 Profit Up 19% on Lower Catastrophe Costs http://www.insurancejournal.com/news/national/2015/07/21/375916.htm Tue, 21 Jul 2015 16:33:16 +0000 http://www.insurancejournal.com/?p=375916 Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said second-quarter profit advanced 19 percent as natural disaster costs dropped. Net income climbed to $812 million, or $2.53 a share, from $683 million, or $1.95, a year …

The article Travelers Q2 Profit Up 19% on Lower Catastrophe Costs appeared first on Insurance Journal.

]]>
Hanover Enhances Fidelity, Crime Coverage http://www.insurancejournal.com/news/national/2015/07/21/375919.htm Tue, 21 Jul 2015 16:24:05 +0000 http://www.insurancejournal.com/?p=375919 The Hanover Insurance Group, Inc. has launched a new Fidelity & Crime Advantage coverage program offered within its management liability portfolio. The coverage provides businesses with an enhanced product suite to help protect their employees and companies. The Hanover’s Fidelity …

The article Hanover Enhances Fidelity, Crime Coverage appeared first on Insurance Journal.

]]>
Hiscox USA Names Goodwin to Chief Underwriter Post http://www.insurancejournal.com/news/national/2015/07/21/375895.htm Tue, 21 Jul 2015 14:13:32 +0000 http://www.insurancejournal.com/?p=375895 Specialty insurer Hiscox has  appointed of Nicole Goodwin as chief underwriting officer for Hiscox USA. She will be based in New York City and replaces Gary Head, who will return to Hiscox’s London office to take on the newly-created role …

The article Hiscox USA Names Goodwin to Chief Underwriter Post appeared first on Insurance Journal.

]]>