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Insurance News 01/2017



ACA will again be a key focus in insurance commissioner's office
The department's primary mission is being an advocate for North Dakota residents in the area of insurance, he said. One of his goals in a first term is to provide visibility and create an ongoing education campaign to inform the public on what the ...

No insurance? No problem for thousands of drivers
DOT statistics on convictions for failing to carry auto insurance don't include uninsured drivers who haven't been detected. The Insurance Information Institute estimated that 11.7 percent of motorists in Wisconsin in 2012 (the latest year cited in the ...

Why the largest insurance companies are pouring into Silicon Valley
Have you ever wondered why the word “farm” appears so frequently in the names of American insurance companies? It stems from the dissatisfaction farmers felt after being charged the same insurance premiums as city dwellers, despite leading far less ...

Farmers Insurance – Erb Agency
I have spent the last 25 years in the insurance industry (both in claims as well as with a local independent agency), as well as time working in the field of loss prevention and risk management. Much of this was spent working in claims for a major ...

Tony Romo is the insurance policy the Cowboys needed
Cowboys quarterback Tony Romo passes during his one series of play against the Eagles on Sunday. AP. MORE FROM: Dave Blezow. Dave Blezow. Why Redskins will cover the big number against the Giants · AFC playoffs wrecked with Derek Carr out, ...

INSPRO Insurance
Stingley has 13 years of experience in the insurance industry. This experience includes four years in claims, three years in operations training, and six years in sales. Stingley is a graduate of the University of Nebraska-Lincoln, where he earned his ...

Should You Get Identity-Theft Insurance?
A. Certain insurance companies, including major insurers such as Allstate, Liberty Mutual, State Farm, and Travelers, offer identify-theft insurance through an add-on "rider" or "endorsement" to homeowners or renters policies, says money editor Jeff ...

Why The Rich And Super-Rich Will Purchase Life Insurance Even Without An Estate Tax
Even if President-elect Donald Trump is proposing the elimination of the estate tax, reasons still remain for the rich and super-rich to purchase life insurance. One of the leading authorities in the field of life insurance, Frank Seneco, president of ...

Will We Get Lower FHA Mortgage Insurance Premiums In 2017?
By any standard, 2016 was a very good year for the FHA. It was so good that lower FHA mortgage insurance premiums are very much in play for 2017. We all talk about “FHA mortgages,” but in reality the FHA doesn't make loans. According to HUD, the FHA is ...

New Tennessee Auto Insurance System Sticks Stiff Penalties To
Tennessee drivers, insurance companies and the Tennessee Department of Revenue will be bound by a new insurance tracking system. A new law went into effect that will stick stiff penalties to drivers who drive without insurance. Tennessee had the 6th ...

Opinion: I'm a former health insurance CEO and this is what Obamacare repeal will do
There's a joke among insurers that there are two things that health insurance companies hate to do — take risks and pay claims. But, of course, these are the essence of their business! Yet, if they do too much of either, they will go broke, and if ...

The Insane Amount Of Money Disney May Collect From Insurance, Following Carrie Fisher's Death
According to Insurance Insider, Disney took out a "contract protection cover" as insurance in case Carrie Fisher was unable to fulfill her obligations to appear in the new Star Wars movies. Since Fisher will now not be participating in Star Wars ...

New NC insurance commissioner seeks regulatory overhaul
With four unsuccessful runs for state insurance commissioner under his belt, Mike Causey firmly believed 2016 was the year the Republican Party needed to nominate a different sort of candidate. “I was convinced we needed a woman candidate, that a ...

Harsher penalties for drivers without insurance
"If I do not have insurance and I'm involved in an accident and it's my fault, I have the insurance company coming after me for medical, it could be loss of work for that other person, so there are these costs," said Cheryl Arthur, owner of Broadway ...

Department of insurance reaches settlement to return KSBIT funds
FRANKFORT — The Franklin Circuit Court has approved an agreed judgment to return funds from the defunct Kentucky School Board Insurance Trust (KSBIT) to nearly 200 Kentucky schools, colleges and education groups and to the Kentucky League of ...

Soaring insulin prices prompt insurance shift
USA TODAY - Many parents of diabetic children and adults suffering with type 1 or type 2 diabetes are bracing for changes in insurance coverage of their insulin next year, as prices of the vital medication continue to soar. Higher insurance deductibles ...

Find Out How Auto Insurance Premiums Are Determined and Save More on Coverage!
LOS ANGELES, Jan. 3, 2017 /PRNewswire-iReach/ -- Compare-autoinsurance.org has released a new blog post explaining how are auto insurance premiums determined. Auto insurance quotes show how much a plan would cost and how much coverage it ...

Brown & Brown's Hull Acquires MGA Insurance House
Insurance House is an MGA and wholesale insurance broker offering commercial and personal lines insurance products to retail brokers. The commercial wholesale brokerage operations are located in Atlanta, Georgia and Silver Spring, Maryland with total ...

Disney could receive $50 million in insurance money because of Carrie Fisher's death
The company behind "Star Wars: The Force Awakens" and all new movies in the franchise put in place an insurance policy on Fisher before she signed a three-picture deal to reprise her role as Princess Leia from the original trilogy in the event that she ...

Dayton kicks off session with insurance rebate proposal
He urged legislators to approve the "time-urgent" bill before the weekend to ensure affected residents can get a 25 percent rebate on their insurance costs in March while those still purchasing insurance before the Jan. 31 enrollment cutoff can factor ...

Get ready to compile health insurance forms
Companies with 50 or more employees are required to offer insurance to employees and their dependents. They must provide a document known as Form 1095-C to each employee by March 2; the form includes information on who was covered in the staffer's ...

IBM's Watson Replaces 34 'White-Collar' Employees at Japanese Insurance Company
Technology pundits say 2017 will be the year of artificial intelligence (similar predictions were made about 2016), but news from the Fukoku Mutual Life Insurance Company may be a harbinger of what's to come. In the final week of December, Fukoku ...

Colts Neck brothers sued for insurance fraud
Two Colts Neck brothers, who pleaded guilty to operating an insurance fraud ring, face a new lawsuit. The New Jersey Department of Banking and Insurance; Allstate New Jersey Insurance Co.; and Encompass Insurance, an Allstate subsidiary, filed a ...

The Motley Fool: Insurance for failures
Ask the Fool. Insurance for failed brokerage. Q: What happens if I open a brokerage account and the brokerage goes out of business? - T.R., Augusta, Ga. A: Fear not. Most brokerages carry Securities Investor Protection Corp., or SIPC, insurance ...

Two Wheeler Insurance Transfer Procedure Explained
In case you are selling your old bike and wondering how to transfer two-wheeler insurance plan to the new owner, this guide will help you to know the two-wheeler insurance transfer procedure in detail. Soon after you get in touch with the potential ...

How China's Insurance Crackdown Spawns More Risks
Following a year in which Chinese insurers aggressively built risky and illiquid portfolios, acquired real estate, companies and stakes in companies at home and across the world, under loose regulation, China's insurance regulator has taken to severe ...

The Role Of Life Insurance In Living To 120
For those who can afford state-of-the-art medical evaluations and treatments, as they are not usually covered by traditional health insurance, opportunities are increasing to live rewarding lengthy lives. For the ultra-wealthy, who have considerable ...

Stephens Insurance Continues to Build Houston Presence
Stephens Insurance, LLC, an affiliate of Stephens Inc., an independent, full service investment banking firm, today announced the hiring of industry veterans John Braniff, Jr and Jonathan Plumhoff. Their significant insurance expertise and familial ...

24 Independent Insurance, Benefits Agencies Form National Brokerage, Alera Group
There is a new national independent insurance brokerage and wealth management firm that opens its doors with more than 20,00 clients, $158 million in annual revenues and 750 employees in 40 offices across 15 states. The new firm is called Alera Group ...

Why You Should Add Liability Insurance to Your New Year's Resolutions
In any situation where you can be held liable for someone else's injury, misfortune or death, liability insurance comes in handy. That may sound like an insurance salesman's pitch, but, increasingly, financial advisors are suggesting liability ...

National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017; 25 Reinsurers Participate
For just the second time in its history, the federal government's National Flood Insurance Program (NFIP) has reinsurance to help it weather major storms. The Federal Emergency Management Agency (FEMA), which manages NFIP, announced that it has ...

New insurance business opens on Roxbury's Blue Hill Avenue
A new insurance agency has opened on Roxbury's Blue Hill Avenue, serving clients in both English and Spanish and offering vehicle, home and business coverage plans. A ribbon cutting for Maryleny Insurance was held in December, attended by Mayor ...

Assurant acquires Green Tree Insurance Agency from Tampa-based Walter Investment Management Corp.
The stock purchase agreement includes the sale of stock related to GTI Holdings Corp., which is the holding company of Walter's licensed insurance agency, Green Tree Insurance Agency, Inc. The sale comes after shares of Walter tumbled 67 percent in ...

U.S. Insurance Stock Outlook - January 2017
The Federal Reserve's action last month of modestly raising interest rates, just like it did a year ago after almost a decade, came as a relief to the insurance industry. The prolonged low-rate environment and falling yields on alternative assets have ...

US Treasury Insurance Advisors to Discuss Blockchain
An advisory council to the US Treasury Department focused on the insurance market will discuss blockchain tech at a meeting later this week. Set for tomorrow afternoon in Washington, DC, the Federal Advisory Committee on Insurance (FACI) will discuss a ...

Insurance verification required for motorists in 2017
The Tennessee Department of Revenue is launching a new insurance verification system in early 2017 to promote compliance with the state's Financial Responsibility Law. The Department of Revenue is encouraging motorists to ensure that proper insurance ...

Conway: Those Who Currently Have Insurance Won't Lose It In ACA Repeal
Donald Trump adviser Kellyanne Conway says that the Trump administration doesn't want anyone who currently has health insurance to lose it due to Republican efforts to repeal the Affordable Care Act. “We don't want anyone who currently has insurance to ...

Tiger Woods commits to playing Farmers Insurance Open and Honda Classic
Tiger Woods will begin his official 2016-17 PGA Tour season at the Farmers Insurance Open at Torrey Pines later this month. He has won at Torrey Pines a record eight times in his career. Woods also committed to the Honda Classic in March, which means ...

What to Look for in 2017: Insurance
Overview of the first in a new series of reports from Mintel Comperemedia that looks at trends for 2017 in six key market sectors: insurance, financial services, retail, telecom, travel, and automotive. This article looks at opportunities in insurance ...

Compare Two Wheeler Insurance Policies Before Buy
Purchasing the best two wheeler insurance policy renders the best financial coverage to your vehicle, in case you encounter any physical damage, third-party liability, and theft in an unforeseen event. Looking at the pathetic condition of roads and ...

Trumbull lawyer guilty in insurance scam that targeted elderly
A Trumbull attorney faces up to five years behind bars after pleading guilty to his involvement in a scam that issued life insurance policies to elderly people. For eight years, David Quatrella and and others, including insurance brokers based in ...

College Students, Ambivalent Or Excited, Apply For Insurance Jobs
MetroHartford Alliance, which sponsored Wednesday's Insurance and Financial Services Career Fair, hopes that college students like Justin Schaffer end up settling in the Hartford region instead of choosing the major cities 100 miles down the road ...

Life Insurance Explained in (exactly) 250 Words
When you apply: A life insurance medical exam is often required. Insurance companies typically also look at your medical records, use prescription-drug databases to see what medicines you take, pull your driving record, and access a database with your ...

The Complex Mess of Health Insurance
These groups included people who received health insurance through an Obamacare exchange and who also voted for Donald Trump. You can read about the results in an Op-Ed today by Drew Altman, Kaiser's chief executive. It underscores how messy and ...

Does Phoenix women's march need $2M in insurance?
But Capitol officials say the group must first secure $2 million in liability insurance. "It will be the Phoenix extension of the Women's March on Washington," Eva Burch, an event organizer, said referring to the march that organizers say is intended ...

Japanese insurance firm replaces 34 staff with AI
Science fiction has long imagined a future in which humans are ousted from their jobs by machines. For 34 staff at a Japanese insurance firm, that vision just became a reality. Fukoku Mutual Life Insurance is laying off the employees and replacing them ...

Pennsylvania Court Rules in Favor of Evanston Insurance, Cites Policy Exclusion
The United States District Court for the Eastern District of Pennsylvania in December ruled that Evanston Insurance Company is not obligated to defend Tri-Arc Financial Services Inc. in an underlying lawsuit because of an exclusion in its professional ...

Why Obamacare's insurance marketplaces won't necessarily collapse with a repeal
Replacing the health-care law, commonly known as Obamacare, could take years, potentially destabilizing the nascent system designed to provide insurance to individuals who don't receive it through an employer. Several large insurance companies had ...

Stamford company joins financial and insurance firms in national
STAMFORD — Consulting firm CBP and an affiliated retiree benefits company are merging with 22 other insurance and financial-services companies across the U.S. to form Alera Group, a union that the firms' executives said represents a landmark deal for ...

Major overhaul coming to Michigan's Unemployment Insurance Agency
LANSING, MICH. - The 13 Watchdog team is learning about a major reorganization effort at Michigan's Unemployment Insurance Agency, including the reassignment of the agency's director Sharon Moffett-Massey. Moffett-Massey has now been assigned to ...