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Insurance News 03/2017



UK's Allianz Insurance Enhances D&O Cover
“Our refreshed proposition offers brokers further flexibility and increased cover limits,” said Catherine Dixon, director of underwriting and technical, Allianz Insurance. “We've designed the enhancements to reflect the changing need of UK businesses ...

Argo's Carr to Head US Cyber Insurance Unit for Brit Global Specialty
Brit Global Specialty USA is launching a Cyber and Technology team and has hired Michael Carr appointed as senior vice president to lead the offering. Carr was formerly Technology practice leader for Argo Group. He has 30 years of experience in the ...

The Plexus Groupe Acquires Fairway Financial Insurance
The Plexus Groupe LLC (Plexus), a privately held national insurance brokerage and risk management consultancy based in Deer Park, Ill., has acquired Arlington Heights, Ill.-based Fairway Financial Insurance Group (Fairway), an independent personal ...

Acentria Acquires Orlando-Based Walker Insurance
Acentria Insurance is a full-service independent insurance agency who works with several national and regional carriers. The company offers protection for both individuals and businesses. While maintaining a corporate office in Destin, Fla., Acentria ...

Businesses line up against Dan Patrick's high-priority insurance bill
Dan Patrick's top priorities — a bill that would make it harder for Texans to force their insurance companies to pay up when calamity strikes. Patrick and his allies say the bill, Senate Bill 10, is needed to stop greedy trial lawyers from cashing in ...

Selling health insurance 'across state lines' isn't real reform
In his address to Congress, Trump shied away from many health reform details, but he did specifically mention one “solution” that's long been on Republicans' wish list — selling health insurance across state lines. Trump's mention drew loud cheers ...

$5.4 million in insurance savings possible for Norwalk
NORWALK — Projected health insurance savings of $5 million form a big part of an agreement announced this week to better fund the Norwalk Board of Education's 2017-18 operating budget request. “They're going to switch to the 2.0. That's what they're ...

Jose Reyes, the Mets' Insurance Plan, Aims to Improve in 2017
The Mets' Jose Reyes connected for a base hit in a spring training game against the Florida Marlins on Tuesday. Credit Steve Mitchell/USA Today Sports, via Reuters.. PORT ST. LUCIE, Fla. — Last June, in the two days between when the Colorado Rockies ...

State warns of W-2, health insurance scams
One is an email phishing scam involving W-2 tax forms, and it has expanded from the corporate world to public schools and nonprofits, state Revenue Secretary Eileen McNulty said Wednesday. "This large-scale theft can give criminals sensitive financial ...

Owner of Northern Illinois Insurance Agency Charged with Defrauding Clients
The owner of a Rockford, Illinois-based managing general agency that last year had its license revoked or non-renewed by two separate state insurance departments has been indicted by a federal grand jury for mail and insurance fraud. The U.S. Attorney ...

Insurance Agency Manager McVey Named West Virginia Insurance Commissioner
West Virginia Gov. Jim Justice, who was elected this past November, has appointed BB&T Insurance Agency Manager Allan L. McVey to serve as West Virginia's Insurance Commissioner, effective April 1. McVey has been active in the industry since 1969 ...

Here's what you need to know about flood insurance
Q: Even if I live in a low-flood risk area, should I get flood insurance? "If you're in a preferred zone, which many homes are, the flood insurance is not required, so the banks won't tell you, you have to get it," Allstate's Bill Dunkak said. "But 20 ...

Using insurance for small repairs, like a cracked windshield, often a bad financial move
Christensen emailed Safelite wanting to know how the price ended up doubing from the quote and was told that the price shot up because he chose to go through insurance. Safelite also told Christensen that his auto-insurance company was responsible for ...

Des Plaines mayoral candidates clash over health insurance for elected officials
Des Plaines mayoral candidates are sparring over whether elected officials should collect taxpayer-funded health insurance benefits -- an ongoing disagreement among city council members for more than a year. Mayor Matt Bogusz sharply criticized ...

Filing A Large-Loss Insurance Claim? Six Things You Can Expect From Your Attorney
Large-loss property insurance claims can be confusing to anyone. Whether you're the owner of a restaurant, an executive, or even an attorney, dealing with large-loss insurance claims can be frustrating and difficult to understand. And because every ...

'I could have died' without insurance, 'Obamacare' advocate declares
At recent town halls across the country, citizens like Woodson have been pressuring lawmakers to preserve “Obamacare,” the unofficial name for former President Barack Obama's signature health reform law that provided insurance for an additional 20 ...

AM Best Affirms Credit Ratings of Bahamas First General Insurance Company Limited and Cayman First Insurance ...
AM Best Affirms Credit Ratings of Bahamas First General Insurance Company Limited and Cayman First Insurance ...

Argument analysis: Justices dubious about Missouri's right to expand insurance benefits for federal employees
The case involves medical benefits for federal employees, paid under an insurance policy provided pursuant to the Federal Employees Health Benefits Act. Under that statute, the federal Office of Personnel Management sets the terms of the policies ...

Suzanne Somers Wants 'Natural Option' Covered by Insurance
'Tox-Sick' author and actress Suzanne Somers on why Health and Human Services Secretary Tom Price should consider including the natural option as part of healthcare insurance. Suzanne Somers said she wants to meet with the new health and human ...

Parker's compensation from USAA's insurance businesses jumps
USAA CEO and President Stuart Parker's compensation from the San Antonio company's insurance businesses jumped nearly 19 percent in 2016, a year that it described as historic for catastrophe-related claims. Parker's pay from four of USAA's insurance ...

A bad idea on health insurance
President Donald Trump's address to Congress embraced major GOP talking points on health care reform. One proposal receiving little notice is the idea of selling health insurance policies “across state lines” as a way to save premium costs. What does ...

What's the Deal: Saving on car insurance
If you haven't shopped around for car insurance lately, you're probably paying more than you have to. (WPVI). WPVI. By Nydia Han. Thursday, March 02, 2017 05:11PM. PHILADELPHIA (WPVI) --. If you haven't shopped around for car insurance lately, you're ...

Insurance CEOs Donate $50M For A 'Healthy' Hartford
The CEOs of three major insurance companies said Thursday they will donate $50 million over five years to Hartford, giving the beleaguered capital city a financial and psychological boost. Mark T. Bertolini of Aetna Inc., Christopher J. Swift of The ...

Trump's health insurance proposal would start a race to the bottom
During his recent address to Congress, President Trump earned a standing ovation for once again declaring that, in place of Obamacare, Americans should have “the freedom to purchase health insurance across state lines.” Here's the dirty little secret: ...

Businesses line up against Patrick's insurance bill
“This insurance bill does more harm to Texas business policyholders than it does to prevent litigation abuses by homeowners or their storm chasing lawyers,” Martin wrote. He said the legislation would “thwart Texas businesses from recovering legitimate ...

Peter Guber Sues His Insurance Broker Over Stolen Bronze Head
It's been three years since Peter Guber lost a Roman bronze head, and the mogul is still looking for payback. On Thursday, Guber filed a lawsuit against Abacus Insurance Brokers, alleging that the company failed to properly advise him on policies when ...

2017 Florida Insurance Legislation to Watch
The Florida insurance market has been a hotbed of controversy over the last year, and many are looking at the Florida State Legislature to alleviate some of the concerns coming from consumers, businesses and the industry itself. From insurance fraud to ...

Companies like biBERK aim to make buying insurance, paying claims hassle-free
Rakesh Gupta had a horrible experience trying to buy insurance online for his yoga studio. The questions, answered via computer, were complex and seemed invasive. It took a long time to gather and fill out the information. It took a long time to get a ...

Even when buying insurance online, live agents have plenty of value
Carol McClelland, chief executive officer of the Independent Insurance Agents of Nebraska, said business owners should be careful about signing up for insurance without checking the options that licensed insurance agents can offer. Online companies try ...

Does Travel Insurance Really Cover You? Here's What You Need ...
Does Travel Insurance Really Cover You? Here's What You Need ...

Find Affordable Auto Insurance for Customized Vehicle
LOS ANGELES, March 3, 2017 /PRNewswire-iReach/ -- Lowcostcarsinsurance.com has released a new blog post explaining how to find affordable auto insurance for customized vehicles. Auto insurance is a long term investment and choosing a policy is very ...

The World's Craziest Insurance Policies (INFOGRAPHIC)
My job prior to becoming Paste's business and media editor came in insurance (I freelanced for Paste's politics section on the side, so they didn't just pluck me out of nowhere). I worked for a broker, and if you're unfamiliar with how the basic ...

What the Health? Insurance Update
This week Trump met with the CEOs of all of the country's major insurance companies, and boy was that photo-op indicative of the problem with Republican plans for healthcare's future. It's being decided on by predominately rich, white men—and rich ...

Complaining about higher auto insurance rates? Put down your cellphone
The auto insurance industry has been raising customer premiums, citing the hikes as a necessary evil to help cover expensive claims on a growing number of car collisions involving "distracted drivers." Smartphones, along with fancy new ways to connect ...

What if the Oroville Dam had collapsed?
Most property owners rely on the National Flood Insurance Program, RMS said, which is most commonly sold to homes in the 100-year flood plain along the Feather River. RMS said its modeling shows the area that would be inundated by breach is much ...

Workers comp law precludes arbitration over employee termination
Mr. Tremblay had surgery for the injury in June 2015 following recommendations by three independent doctors and insurance approval, court records show. Mr. Tremblay never requested a leave of absence and was never told he had to return to work within a ...

Insurance issues loom large on Legislature's agenda
Lawmakers are also expected to look at proposals to jettison personal injury protection [PIP] auto insurance, allow health insurance customers to sue their HMOs, prevent health insurers from dropping drugs from coverage lists in the middle of policy ...

Health insurance brokers get closer to being able to charge fees
Legislation to allow insurance brokers to charge customers a fee in absence of a commission passed a vote on the House floor. The legislation creates a path for compensation for brokers who help customers find a health insurance plan. Until the fall ...

Obamacare subsidy useless if insurance companies pull out
Tennessee Insurance Commissioner Julie Mix McPeak discussed the Feb. 14 announcement by Humana that the company will not sell insurance on any Obamacare exchange in 2018. The loss of coverage by Humana would affect around 79,000 ...

The Advantages of Using Insurance Brokerage Websites to Shop for Auto Insurance
LOS ANGELES, March 4, 2017 /PRNewswire-iReach/ -- Onlinecarinsuranceinfo.com has released a new blog post presenting the advantages of using insurance brokerage websites to shop for auto insurance. Finding the right auto insurance provider is ...

Unusual Hastings insurance claim turns into national commercial
Then it shows a shot of dog with the pizza slice running outside and the kitchen explodes. Lindberg said that the commercial did embellish the claim a little, but it was a fun way to communicate the message that anything could happen and insurance can ...

Interstate Health Insurance Sales Probably Won't Work, but If They Do We're In Real Trouble
[T]he time has come to give Americans the freedom to purchase health insurance across State lines — creating a truly competitive national marketplace that will bring cost way down and provide far better care. It sounds good, even non-controversial ...

Editorial: Why selling health insurance across state lines won't work
WASHINGTON, DC – FEBRUARY 28: (AFP OUT) U.S. President Donald J. Trump (C) delivers his first address to a joint session of the U.S. Congress as U.S. Vice President Mike Pence (L) and Speaker of the House Paul Ryan (R) listen on February 28, 2017 ...

Got health insurance? That doesn't mean you'll be able to pay your medical bills.
Hospitals around the country are reporting record levels of debt on their books from an unlikely source: patients with health care coverage. As health insurers and employers have shifted health care costs to patients through high deductibles and other ...

Earthquake insurance: 3 in 20 claims approved in Oklahoma since 2010
More than 90 percent of the insurance market covers man-made and natural earthquakes, whereas in the past induced seismicity was excluded. • Generally, homeowners policies won't cover earthquakes. Homeowners must obtain coverage specifically for ...

Pete Frates Shows Support For ALS Insurance Bill
The Massachusetts man who inspired the Ice Bucket Challenge that has raised more than $200 million for ALS research is backing an effort in Congress to help others with the disease. Pete Frates was joined at his home in Beverly on Saturday by ...

Consumer Reports: How to save on car insurance
But when Consumer Reports analyzed more than 2.7 billion premiums — the bulk of the U.S. auto insurance market — it also identified some factors that you might not even be aware of, including credit history and education, that have nothing to do with ...

Injured Deuel County deputy testifies for proposal to guarantee health insurance for wounded first responders
Although Hutchinson's medical bills from the near-deadly assault have been paid by the county's workers' compensation insurance carrier, he subsequently lost family health insurance provided through the county because he wasn't working at least 30 ...

What On Earth Is IRDAI Doing Fixing The Price Of Motor Insurance?
A strange little tale out of India as the insurance regulator decides that the price of motor insurance should rise by up to 50%. This is not a suitable function of a regulator--there are undoubtedly things which should be regulated in the insurance ...

Auto Insurance Discounts for Low-Risk Drivers - How to Find Great Coverage Online!
There are many auto insurance discounts available. Many agencies reward good driving behavior and various other things that reduce the risk of an accident. Many customers are not aware of the many auto insurance discounts available and they often fail ...