Insurance Journal » News http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 16 Sep 2014 21:21:01 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Tropical Storm Polo Could Grow to Hurricane Off Mexico Coast http://www.insurancejournal.com/news/international/2014/09/16/340617.htm Tue, 16 Sep 2014 18:39:39 +0000 http://www.insurancejournal.com/?p=340617 Tropical storm Polo could become a hurricane off Mexico’s Pacific Coast on Thursday the U.S. National Hurricane Center (NHC) said on Tuesday. On Tuesday morning Polo was about 275 miles (440km) south of Mexico’s famous beach resort of Acapulco and …

The article Tropical Storm Polo Could Grow to Hurricane Off Mexico Coast appeared first on Insurance Journal.

]]>
Hull to Head Surety for Willis http://www.insurancejournal.com/news/national/2014/09/16/340598.htm Tue, 16 Sep 2014 16:12:46 +0000 http://www.insurancejournal.com/?p=340598 Global insurance and reinsurance broker Willis Group Holdings has appointed Scott Hull as executive vice president and head of Surety. Hull will be responsible for directing surety operations across Willis’ platform, with a focus on expanding surety capabilities globally. Hull …

The article Hull to Head Surety for Willis appeared first on Insurance Journal.

]]>
Sinkholes Continue Taking a Toll in Southeast http://www.insurancejournal.com/news/southeast/2014/09/16/340591.htm Tue, 16 Sep 2014 15:55:36 +0000 http://www.insurancejournal.com/?p=340591 Solid ground isn’t always a certainty. Sinkholes can lurk anywhere, beneath suburban homes, city streets or even football stadiums and museums. It’s basic geology: Sinkholes open when soil collapses into large holes, caused by flowing water in underground limestone. Their …

The article Sinkholes Continue Taking a Toll in Southeast appeared first on Insurance Journal.

]]>
Rebuilding Slow After New Jersey Boardwalk Fire http://www.insurancejournal.com/news/east/2014/09/16/340590.htm Tue, 16 Sep 2014 15:54:25 +0000 http://www.insurancejournal.com/?p=340590 Rebuilding is slow one year after a fire devoured more than four blocks of boardwalk and destroyed more than 50 businesses in two New Jersey shore towns. The boardwalk that was lost on Sept. 12, 2013, has been rebuilt between …

The article Rebuilding Slow After New Jersey Boardwalk Fire appeared first on Insurance Journal.

]]>
100 Homes Destroyed by Northern California Wildfire http://www.insurancejournal.com/news/west/2014/09/16/340587.htm Tue, 16 Sep 2014 15:47:12 +0000 http://www.insurancejournal.com/?p=340587 A wind-driven fire cut through a small California town near the Oregon border on Monday damaging or destroying 100 homes and prompting evacuation orders for at least 1,500 people, authorities said. The town near the base of Mount Shasta in …

The article 100 Homes Destroyed by Northern California Wildfire appeared first on Insurance Journal.

]]>
Encode Disaster Resilience in the Global Financial System: Willis Re Chairman http://www.insurancejournal.com/news/international/2014/09/16/340584.htm Tue, 16 Sep 2014 15:43:44 +0000 http://www.insurancejournal.com/?p=340584 “Disaster resilience should be encoded into the global financial system,” said James Vickers, Chairman of Willis Re International, in an interview at the Reinsurance Rendezvous in Monte Carlo. “It’s a big opportunity for the insurance industry.” Vickers was addressing the …

The article Encode Disaster Resilience in the Global Financial System: Willis Re Chairman appeared first on Insurance Journal.

]]>
Montana Crops Besieged by Floodwaters http://www.insurancejournal.com/news/west/2014/09/16/340582.htm Tue, 16 Sep 2014 15:37:46 +0000 http://www.insurancejournal.com/?p=340582 The round hay bales in the Saco flats have turned dark with mud and mildew. The high-water mark rises halfway up these slumping, soggy bales – thousands of which dot the fields along U.S. Highway 12 – bearing the ruin …

The article Montana Crops Besieged by Floodwaters appeared first on Insurance Journal.

]]>
Rhode Island’s FM Global Announces Promotions http://www.insurancejournal.com/news/east/2014/09/16/340578.htm Tue, 16 Sep 2014 15:32:13 +0000 http://www.insurancejournal.com/?p=340578 FM Global has promoted six executives to new senior management roles, effective Oct. 1, 2014. Bret N. Ahnell, senior vice president, Western division manager, will become an executive vice president. He will oversee various divisions within the company, including underwriting …

The article Rhode Island’s FM Global Announces Promotions appeared first on Insurance Journal.

]]>
Berkley FinSecure in Maryland Promotes Martin to Director of Sales http://www.insurancejournal.com/news/east/2014/09/16/340576.htm Tue, 16 Sep 2014 15:18:08 +0000 http://www.insurancejournal.com/?p=340576 Berkley FinSecure, a W. R. Berkley company based in Towson, Maryland, has promoted Jon Martin to vice president and director of sales. In his new role, Martin will be responsible for management of Berkley FinSecure’s nationwide network of regional sales …

The article Berkley FinSecure in Maryland Promotes Martin to Director of Sales appeared first on Insurance Journal.

]]>
Arizonans Face Second Tropical Threat in Two Weeks http://www.insurancejournal.com/news/west/2014/09/16/340572.htm Tue, 16 Sep 2014 14:49:52 +0000 http://www.insurancejournal.com/?p=340572 A week ago, Hurricane Norbert pumped tropical moisture across the U.S. Southwest, touching off record rainfall in Phoenix and Tucson that killed at least two people, flooded hundreds of homes and shut highways throughout the region. This week, Hurricane Odile …

The article Arizonans Face Second Tropical Threat in Two Weeks appeared first on Insurance Journal.

]]>
Mississippi Wind Pool Ending Rate Break for Large Firms http://www.insurancejournal.com/news/southeast/2014/09/16/340565.htm Tue, 16 Sep 2014 14:30:26 +0000 http://www.insurancejournal.com/?p=340565 Large businesses and government agencies have been getting a big break on premiums in Mississippi’s coastal insurer of last resort, but it’s coming to an end. Mississippi Windstorm Underwriting Association representatives told the Sun Herald that the wind pool’s residential …

The article Mississippi Wind Pool Ending Rate Break for Large Firms appeared first on Insurance Journal.

]]>
ACP Re Completes Tower Group Merger; Personal Lines Sold to National General http://www.insurancejournal.com/news/national/2014/09/16/340563.htm Tue, 16 Sep 2014 14:21:50 +0000 http://www.insurancejournal.com/?p=340563 After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …

The article ACP Re Completes Tower Group Merger; Personal Lines Sold to National General appeared first on Insurance Journal.

]]>
Texas’ Oil Boom Counties See Rise in Traffic Deaths http://www.insurancejournal.com/news/southcentral/2014/09/16/340560.htm Tue, 16 Sep 2014 14:06:34 +0000 http://www.insurancejournal.com/?p=340560 Vehicle crash deaths are significantly up in parts of Texas where oil and gas production is booming the most. The Houston Chronicle reports that deaths rose more than 50 percent in the West Texas counties located on the Permian Basin. …

The article Texas’ Oil Boom Counties See Rise in Traffic Deaths appeared first on Insurance Journal.

]]>
South Dakota’s Brown County Gets $150K Grant for New Floodgate http://www.insurancejournal.com/news/midwest/2014/09/16/340558.htm Tue, 16 Sep 2014 14:04:46 +0000 http://www.insurancejournal.com/?p=340558 Brown County is receiving more than $150,000 in grant funding to help install a new floodgate where Crow Creek meets the James River. The American News in Aberdeen reports that Brown County has been planning for several years to replace …

The article South Dakota’s Brown County Gets $150K Grant for New Floodgate appeared first on Insurance Journal.

]]>
Insurance Secured, Michigan Village Police Department Operating Again http://www.insurancejournal.com/news/midwest/2014/09/16/340555.htm Tue, 16 Sep 2014 14:01:33 +0000 http://www.insurancejournal.com/?p=340555 Police in a small village in Michigan’s Saginaw County have resumed patrols after securing liability insurance. Oakley Police Chief Robert Reznick obtained the insurance and reinstated patrols over the weekend. The Oakley Board of Trustees voted 5-1 last week to …

The article Insurance Secured, Michigan Village Police Department Operating Again appeared first on Insurance Journal.

]]>
Insurance Licensing to Halt in Arkansas for 10 Days in October http://www.insurancejournal.com/news/southcentral/2014/09/16/340553.htm Tue, 16 Sep 2014 13:59:18 +0000 http://www.insurancejournal.com/?p=340553 Arkansas Insurance Commissioner Jay Bradford is alerting insurance agents, agencies and others that the Arkansas Insurance Department (AID) is converting to a new State Based Systems (SBS) which will mean a temporary stoppage in the processing of appointments, renewals and …

The article Insurance Licensing to Halt in Arkansas for 10 Days in October appeared first on Insurance Journal.

]]>
Texas Pickup Trucks Stolen the Most: NICB Report http://www.insurancejournal.com/news/southcentral/2014/09/16/340551.htm Tue, 16 Sep 2014 13:56:45 +0000 http://www.insurancejournal.com/?p=340551 Pickup trucks have become a favorite target by vehicle thieves according to a new report released by the National Insurance Crime Bureau (NICB). Between Jan. 1, 2010 and Dec. 31, 2013, 9,441 pickup trucks were reported stolen. Full-sized pickup trucks …

The article Texas Pickup Trucks Stolen the Most: NICB Report appeared first on Insurance Journal.

]]>
Beckman Joins Berkley Fire and Marine Underwriters in Ohio http://www.insurancejournal.com/news/midwest/2014/09/16/340549.htm Tue, 16 Sep 2014 13:54:58 +0000 http://www.insurancejournal.com/?p=340549 Chicago, Ill.-based Berkley Fire and Marine Underwriters hired Chris Beckman as operations and risk management director. He is based in Cincinnati, Ohio. Beckman will be responsible for underwriter support in systems, risk management and risk control efforts for the company. …

The article Beckman Joins Berkley Fire and Marine Underwriters in Ohio appeared first on Insurance Journal.

]]>
Occidental to Pay $190M in New Jersey River Pollution Case http://www.insurancejournal.com/news/east/2014/09/16/340542.htm Tue, 16 Sep 2014 13:38:28 +0000 http://www.insurancejournal.com/?p=340542 Occidental Petroleum Corp.’s chemical unit agreed to pay $190 million to cover its liability for the cleanup of the Passaic River in northern New Jersey, state officials said. Occidental Chemical is the legal successor to Diamond Shamrock Chemical Co., which …

The article Occidental to Pay $190M in New Jersey River Pollution Case appeared first on Insurance Journal.

]]>
Uber Wins Reversal of Germany’s Ban on Ridesharing App for Now http://www.insurancejournal.com/news/international/2014/09/16/340546.htm Tue, 16 Sep 2014 13:24:33 +0000 http://www.insurancejournal.com/?p=340546 Uber Technologies Inc. won the reversal of a nationwide ban in Germany of the company’s ride-hailing app after judges said a group of taxi dispatchers improperly used emergency procedures to obtain the initial court order. While the judges still think …

The article Uber Wins Reversal of Germany’s Ban on Ridesharing App for Now appeared first on Insurance Journal.

]]>
BP Hopes Missing Comma Triggers $750 Million Transocean Spill Insurance http://www.insurancejournal.com/news/national/2014/09/16/340540.htm Tue, 16 Sep 2014 12:52:02 +0000 http://www.insurancejournal.com/?p=340540 BP Plc, which already has paid more than $28 billion for the 2010 Gulf of Mexico oil spill, seeks to get a $750 million chunk of that back by convincing a Texas court that a missing comma may give the …

The article BP Hopes Missing Comma Triggers $750 Million Transocean Spill Insurance appeared first on Insurance Journal.

]]>
Swiss Re, Munich Re Wade Into Dutch Flood Insurance http://www.insurancejournal.com/news/international/2014/09/16/340538.htm Tue, 16 Sep 2014 12:46:52 +0000 http://www.insurancejournal.com/?p=340538 The world’s biggest reinsurers, pushed by rising competition in existing markets, are preparing to insure against Dutch floods, a peril that centuries of experience have warned most in the Netherlands against. Swiss Re Ltd., the No. 2 reinsurer, is ready …

The article Swiss Re, Munich Re Wade Into Dutch Flood Insurance appeared first on Insurance Journal.

]]>
EMPLOYERS Launches Work-Related Injury Hotline for Florida Small Business Clients http://www.insurancejournal.com/news/southeast/2014/09/16/340532.htm Tue, 16 Sep 2014 10:00:39 +0000 http://www.insurancejournal.com/?p=340532 Small business insurer EMPLOYERS has launched Coventry/NT24, a 24-hour hotline staffed by registered nurses who provide medical guidance over the phone for work-related injuries or illnesses. The service is available to EMPLOYERS workers’ compensation policyholders in Florida. Coventry/NT24 is staffed …

The article EMPLOYERS Launches Work-Related Injury Hotline for Florida Small Business Clients appeared first on Insurance Journal.

]]>
Fireman’s Fund Enhances Prestige Home Premier Product http://www.insurancejournal.com/news/national/2014/09/16/340529.htm Tue, 16 Sep 2014 10:00:37 +0000 http://www.insurancejournal.com/?p=340529 Fireman’s Fund has unveiled new coverages and enhancements to its Prestige Home Premier product, now available in six states and filing nationwide through 2016. Homeowners in Arizona, Colorado, Connecticut, Illinois, Missouri, and Oregon are now eligible for the new product, …

The article Fireman’s Fund Enhances Prestige Home Premier Product appeared first on Insurance Journal.

]]>
The Problem with Domestic Excess & Surplus Lines Insurers http://www.insurancejournal.com/news/national/2014/09/16/340523.htm Tue, 16 Sep 2014 09:00:50 +0000 http://www.insurancejournal.com/?p=340523 It has been more than five years since states, beginning with Illinois, began to enact laws permitting the formation and licensing of domestic excess and surplus lines insurers. To date, these initiatives have gotten very little traction in the insurance …

The article The Problem with Domestic Excess & Surplus Lines Insurers appeared first on Insurance Journal.

]]>
XL Group’s Launches Regional Insurance Operations in Arizona http://www.insurancejournal.com/news/west/2014/09/15/340536.htm Mon, 15 Sep 2014 22:59:30 +0000 http://www.insurancejournal.com/?p=340536 XL Group has launched a regional underwriting operation in Scottsdale, Ariz. to offer brokers and clients in the Western U.S. more direct access to its excess and surplus insurance coverages The experienced underwriting team includes Scott Noffisinger, Katherine E. Schlueter, Rick M. Yale and Kim …

The article XL Group’s Launches Regional Insurance Operations in Arizona appeared first on Insurance Journal.

]]>
Hurricane Odile Brings Storm Surge, Flooding to Mexican Peninsula http://www.insurancejournal.com/news/international/2014/09/15/340521.htm Mon, 15 Sep 2014 19:37:21 +0000 http://www.insurancejournal.com/?p=340521 Hurricane Odile, the strongest to hit Baja California Sur in decades, weakened slightly as it battered the Mexican peninsula with high winds and rain. Odile went ashore near the resort city of Cabo San Lucas at about 10:45 p.m. Mexico …

The article Hurricane Odile Brings Storm Surge, Flooding to Mexican Peninsula appeared first on Insurance Journal.

]]>
Typhoon Kalmaegi Approaches Hong Kong http://www.insurancejournal.com/news/international/2014/09/15/340519.htm Mon, 15 Sep 2014 19:31:53 +0000 http://www.insurancejournal.com/?p=340519 Hong Kong issued its third-highest storm signal for the first time this year as Severe Typhoon Kalmaegi sweeps past China’s financial center. The Hong Kong Observatory raised the No. 8 Storm Signal at 10:30 p.m. local time yesterday, according to …

The article Typhoon Kalmaegi Approaches Hong Kong appeared first on Insurance Journal.

]]>
‘Minimal’ Insurance Effect If Scotland Exits U.K., Says Lloyd’s of London Chair http://www.insurancejournal.com/news/international/2014/09/15/340515.htm Mon, 15 Sep 2014 19:18:46 +0000 http://www.insurancejournal.com/?p=340515 Lloyd’s of London Chairman John Nelson said several years of uncertainty will follow if Scotland leaves the U.K. “The immediate effect would be a period of perhaps two years of uncertainty,” said Nelson, 67, in an interview from Monte Carlo …

The article ‘Minimal’ Insurance Effect If Scotland Exits U.K., Says Lloyd’s of London Chair appeared first on Insurance Journal.

]]>
AIG Names Fasano to New Chief Information Officer Post http://www.insurancejournal.com/news/national/2014/09/15/340510.htm Mon, 15 Sep 2014 18:14:04 +0000 http://www.insurancejournal.com/?p=340510 American International Group Inc. has named Philip Fasano to the newly-created role of executive vice president and chief information officer. Fasano will be responsible for oversight of the company’s global information technology, including reviewing and updating technology systems and platforms, …

The article AIG Names Fasano to New Chief Information Officer Post appeared first on Insurance Journal.

]]>