Monthly Archives: May 2015

Amlin Reports 1.4% Drop in Q1 Gross Written Premiums to $1.96 Billion

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Zurich Aims to Cut Costs by $1B, Seeking to Reverse Earnings Decline

Zurich Insurance Group AG, Switzerland’s biggest insurer, will cut costs by more than planned as it seeks to reverse a drop in earnings. Chief Executive Officer Martin Senn said he will make additional annual savings of at least $1 billion by …

The article Zurich Aims to Cut Costs by $1B, Seeking to Reverse Earnings Decline appeared first on Insurance Journal.

Thu, 21 May 2015 11:13:49 +0000
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BP Settles Gulf Oil Spill Cross Claims with Halliburton, Transocean

BP Plc has settled with oilfield services provider Halliburton Co. and contract driller Transocean Ltd. cross claims related to the 2010 Gulf of Mexico oil spill, the worst offshore disaster in U.S. history. BP still faces a potential fine of …

The article BP Settles Gulf Oil Spill Cross Claims with Halliburton, Transocean appeared first on Insurance Journal.

Thu, 21 May 2015 10:38:33 +0000
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Prosecutors Say Ex-Security Guard Helped Thieves in Kentucky Bourbon Theft Ring

The alleged head of a bourbon theft ring recruited a security guard and paid her $800 to look the other way as thieves spirited away thousands of dollars’ worth of whiskey from a Kentucky distillery, prosecutors said this week. Leslie …

The article Prosecutors Say Ex-Security Guard Helped Thieves in Kentucky Bourbon Theft Ring appeared first on Insurance Journal.

Thu, 21 May 2015 05:14:37 +0000
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NFP Acquires Horenberg Insurance Services in Maryland

NFP, a New York City-based provider of employee benefits, property/casualty insurance, retirement and wealth management services, announced it has acquired Horenberg Insurance Services Inc., an independent agency in Burtonsville, Maryland. Terms of the transaction were not disclosed. NFP said the …

The article NFP Acquires Horenberg Insurance Services in Maryland appeared first on Insurance Journal.

Thu, 21 May 2015 16:57:59 +0000
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Amlin Reports 1.4% Drop in Q1 Gross Written Premiums to $1.96 Billion

London-based Amlin plc reported gross written premium for the three months ended March 31, 2015 of £1.26 billion ($1.96 billion), compared with £1.27 billion ($1.97 billion) reported for the said period in 2014. At constant rates of exchange, gross written …

The article Amlin Reports 1.4% Drop in Q1 Gross Written Premiums to $1.96 Billion appeared first on Insurance Journal.

Thu, 21 May 2015 10:05:18 +0000
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SCOR Appoints Brémond as Group Human Resources Director

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Takata Agrees to Recall 34 Million Cars for Air Bag Replacement

Japanese air bag manufacturer Takata Corp. is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, making it the largest automotive recall in American history, U.S. safety regulators said on Tuesday. The recall involves passenger- and …

The article Takata Agrees to Recall 34 Million Cars for Air Bag Replacement appeared first on Insurance Journal.

Wed, 20 May 2015 10:39:36 +0000
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SCOR Appoints Brémond as Group Human Resources Director

SCOR announced that Laurent Brémond has joined the company as group human resources director, reporting to Denis Kessler, chairman & chief executive officer, based in Paris. Brémond (47) is a graduate of the London School of Economics. He also holds …

The article SCOR Appoints Brémond as Group Human Resources Director appeared first on Insurance Journal.

Wed, 20 May 2015 08:28:46 +0000
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Vienna Insurance Posts Lowest Q1 Profit Since ’09, Hit by Low Interest Rates

The financial repercussions of record-low interest rates in Europe were highlighted Wednesday as Vienna Insurance Group AG, eastern Europe’s biggest insurer, posted its worst first-quarter profit since the financial crisis. The insurer, based in Austria’s capital, said the effect of low bond …

The article Vienna Insurance Posts Lowest Q1 Profit Since ’09, Hit by Low Interest Rates appeared first on Insurance Journal.

Wed, 20 May 2015 10:57:25 +0000
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Illinois Court Urged by Philip Morris to Toss $10B Smokers’ Verdict

A $10.1 billion verdict against Philip Morris USA over misleading consumers about the safety of “light” cigarettes should be overturned, lawyers for the company argued in the Illinois Supreme Court. The award was first made in 2003 for a class …

The article Illinois Court Urged by Philip Morris to Toss $10B Smokers’ Verdict appeared first on Insurance Journal.

Wed, 20 May 2015 16:35:53 +0000
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Minor Quake Felt In Alaska Communities, No Reported Damage

A light earthquake was felt across a large part of southcentral Alaska on Monday, but there were no immediate reports of damage. The Alaska Earthquake Information Center says the magnitude 4.3 quake was recorded at 7:49 a.m. in the Cook …

The article Minor Quake Felt In Alaska Communities, No Reported Damage appeared first on Insurance Journal.

Wed, 20 May 2015 16:14:14 +0000
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Louisiana Tornado Injures three, Damages three Households

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California Person Pleads Responsible to Placing Motor vehicle Ablaze to Cash in on Insurance policy

Richard Peters, 36, of Lakeside, Calif., pleaded guilty to one felony count of insurance coverage fraud immediately after becoming arrested very last 7 days by the San Diego Urban Automobile Insurance policies Fraud Task Pressure on suspicion that he set hearth to his automobile in &#8230

The report California Male Pleads Responsible to Setting Car or truck Ablaze to Money in on Coverage appeared initial on Insurance policies Journal.

Tue, 19 May possibly 2015 fifteen:33:07 +0000
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Michigan Village Outlines Plans to Retain Federal Flood Insurance

A southeastern Michigan group has told federal officials that its strategies to comply with a flood insurance plan incorporate taking a resident to courtroom to make him elevate his household. The Monroe News documented Saturday that Estral Seaside President Danny &#8230

The article Michigan Village Outlines Designs to Keep Federal Flood Insurance policies appeared 1st on Coverage Journal.

Tue, 19 May perhaps 2015 fifteen:55:forty five +0000
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Airlines Banning Bulk Shipments of Lithium Rechargeable Batteries

Changing smartphone batteries just obtained more durable. Fearing cargo fires like a person that caused a United Parcel Services Inc. freighter to crash into the desert near Dubai in 2010, at the very least 18 airlines have banned freight shipments of lithium-ion rechargeable batteries &#8230

The posting Airways Banning Bulk Shipments of Lithium Rechargeable Batteries appeared to start with on Insurance coverage Journal.

Tue, 19 May 2015 13:forty seven:15 +0000
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Amtrak Sued by Train Crash Victims Over Lethal Derailment

Six travellers on an Amtrak teach that derailed Might twelve in Philadelphia, killing 8 and injuring extra than 200, sued the railroad boasting the incident could have been prevented. The first of the lawsuits mentioned accidents suffered by 4 victims &#8230

The short article Amtrak Sued by Educate Crash Victims In excess of Lethal Derailment appeared first on Insurance Journal.

Tue, 19 May possibly 2015 twelve:fifty two:fifty five +0000
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Louisiana Tornado Injures 3, Damages 3 Properties

A one hundred ten-mph twister in Tickfaw, La. wounded 3 folks, ruined 8 homes and uprooted hardwood trees, authorities reported. The tornado strike about 3:thirty a.m. Sunday in Tickfaw, which is about fifty miles northwest of New Orleans, according to the National &#8230

The post Louisiana Twister Injures three, Damages three Properties appeared 1st on Insurance Journal.

Tue, 19 Might 2015 fifteen:47:35 +0000
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Whirlpool to Pay back Arkansas Residence House owners for Dropped Worth

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Bird Flu Cuts Materials to Minnesota Turkey Litter Electric power Plant

A Minnesota power plant fueled by turkey litter flopped and fell into receivership even prior to a virulent variety of bird flu shook the Midwest&#8217s poultry marketplace in current months, however its new managers say they&#8217re confident they can keep it &#8230

The post Chicken Flu Cuts Supplies to Minnesota Turkey Litter Electric power Plant appeared very first on Insurance Journal.

Mon, eighteen May perhaps 2015 05:fifty three:forty seven +0000
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Whirlpool to Pay back Arkansas Property Homeowners for Misplaced Price

Whirlpool has agreed to spend the entrepreneurs of 49 qualities in Arkansas that shed value after it was identified that a former plant of the appliance-maker had leaked a harmful chemical into the groundwater for many years. Fort Smith town administrators &#8230

The report Whirlpool to Shell out Arkansas Residence Proprietors for Lost Worth appeared very first on Insurance Journal.

Mon, 18 Could 2015 05:thirty:53 +0000
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European Insurance plan Discussion board Examines a Switching Entire world

With the extended journey in the direction of a unified regulatory procedure for insurance policies in the European Union – Solvency II &#8211 lastly showing up to be in the vicinity of its end, the re/insurance coverage business has realized that even larger challenges require to be tackled &#8211 &#8230

The report European Insurance policy Forum Examines a Altering Entire world appeared 1st on Insurance policies Journal.

Mon, eighteen May 2015 08:forty nine:02 +0000
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Ohio Lt. Gov./Coverage Director Taylor Tackles Multiple Roles

As Ohio’s lieutenant governor, prime insurance coverage regulator and leader of a statewide regulatory reform initiative, it could possibly appear to be that Mary Taylor’s public responsibilities would frequently pull in her in conflicting directions. That would not be the circumstance. Taylor’s two most important &#8230

The post Ohio Lt. Gov./Insurance coverage Director Taylor Tackles Many Roles appeared very first on Insurance policies Journal.

Mon, eighteen May well 2015 05:53:fifty four +0000
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How On-Demand from customers Economy Is Switching Workers’ Compensation

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Confie Seguros Acquires three Brokerages in Buffalo, New York

Confie Seguros, a national company of private traces coverage based mostly in Huntington Seashore, California, declared that it has acquired three new insurance plan brokerages in Buffalo, New York. Confie obtained three agencies in Buffalo, all offering vehicle insurance coverage &#8212 Equipped Insurance coverage &#8230

The report Confie Seguros Acquires three Brokerages in Buffalo, New York appeared to start with on Insurance coverage Journal.

Fri, 15 May well 2015 13:32:06 +0000
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How On-Demand Economy Is Altering Workers’ Compensation

The workers’ payment sector have to contend with a rapid-developing on-demand financial state where careers are crammed via applications and a lot more personnel are short term contractors. &#8220Technology is modifying how we think about jobs,&#8221 Dr. Robert Hartwig, president of the Insurance policies Facts Institute &#8230

The post How On-Demand Economic climate Is Shifting Workers’ Payment appeared very first on Insurance policy Journal.

Fri, 15 May 2015 14:07:32 +0000
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Outlook for Dallas-Dependent MGA Insurance Revised to Favourable

A.M. Best has revised the outlook to constructive from steady for the issuer credit history score (ICR) of MGA Insurance policies Co. Inc. (MGA) in Dallas and affirmed its ICR of “bbb.” Concurrently, A.M. Finest has affirmed the financial energy score of B++ (Superior). The &#8230

The short article Outlook for Dallas-Dependent MGA Insurance Revised to Beneficial appeared 1st on Insurance policy Journal.

Fri, fifteen May perhaps 2015 sixteen:forty one:58 +0000
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$one.4M Awarded in Loss of life of Gentleman at Utah Care Facility

A jury has ordered a previous nurse and a Provo, Utah treatment facility to fork out $one.four million for the loss of life of a man who was supplied the improper prescription drugs. The Deseret News described that seventy one-yr-previous Jack Adams, of Spanish Fork, &#8230

The report $one.4M Awarded in Dying of Gentleman at Utah Care Facility appeared initially on Insurance plan Journal.

Fri, fifteen May 2015 fifteen:fifty eight:fifty three +0000
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Texas-Based mostly Sally Beauty Confirms 2nd Info Breach

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Amtrak Employee Injured in Philadelphia Crash Files Match Seeking $150K

An Amtrak personnel who was on the educate that derailed Tuesday in Philadelphia accused the railroad corporation of carelessness and seeks a lot more than $a hundred and fifty,000 in damages. Bruce Phillips endured a traumatic mind injuries and several contusions and lacerations in the &#8230

The report Amtrak Worker Hurt in Philadelphia Crash Information Accommodate Searching for $150K appeared very first on Insurance policies Journal.

Fri, 15 May perhaps 2015 15:12:33 +0000
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Gilliland to Chair Oklahoma Workers’ Comp Fee

Gov. Mary Fallin has named Bob Gilliland of Oklahoma City as chairman of the Oklahoma Staff&#8217 Payment Fee. Gilliland was appointed in 2013 as a single of the 3 original users on the fee. He can take about as chairman on June &#8230

The posting Gilliland to Chair Oklahoma Workers’ Comp Commission appeared 1st on Insurance policy Journal.

Fri, fifteen May perhaps 2015 16:forty four:50 +0000
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Fit Filed Over Oregon Employee Who Died After Employing Bucket as Rest room

Relatives of an Oregon employee who died from carbon monoxide poisoning whilst defecating in the again of a enterprise truck seek out $four million in a lawsuit filed against the man&#8217s previous employer and four other firms. The go well with submitted in &#8230

The report Go well with Filed Over Oregon Employee Who Died Just after Applying Bucket as Toilet appeared first on Insurance Journal.

Fri, fifteen May well 2015 fifteen:fifty four:26 +0000
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Texas-Primarily based Sally Natural beauty Confirms Next Facts Breach

The Sally Magnificence chain, headquartered in Denton, Texas, has verified that it has suffered its 2nd info breach in just above two yrs. The beauty goods vendor notified buyers before this month that it was investigating reports of unusual exercise &#8230

The short article Texas-Based mostly Sally Beauty Confirms Next Data Breach appeared initially on Coverage Journal.

Fri, fifteen May possibly 2015 sixteen:forty eight:forty two +0000
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When Canine Bite, Dwelling Insurers Pay Typical $32,000

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New Jersey’s Sandy Victims Protest Pace of Rebuilding Help Courses

Wendy Joan sported strips of purple tape on her jeans and jacket to symbolize the delays she has encountered with New Jersey point out companies and joined other Superstorm Sandy victims Thursday in Trenton, New Jersey, rallying to voice their frustration &#8230

The post New Jersey&#8217s Sandy Victims Protest Tempo of Rebuilding Assist Packages appeared first on Insurance policy Journal.

Fri, fifteen May well 2015 16:09:05 +0000
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Amtrak Crash Spotlights Hold off in Federal Mandate for Automatic Brake Technological know-how

The deadly Amtrak derailment in the vicinity of Philadelphia seems to be but a different accident that didn&#8217t have to take place. It could have been averted if a very long-sought security technologies had been installed on its tracks and trains, in accordance to facts collected by &#8230

The short article Amtrak Crash Spotlights Hold off in Federal Mandate for Automatic Brake Know-how appeared to start with on Insurance policies Journal.

Fri, 15 Could 2015 sixteen:15:20 +0000
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When Canines Bite, Residence Insurers Shell out Regular $32,000

Max, Bella and their canine comrades cause extra than 1-third of all property coverage claims, incorporating $530 million a year to insurance plan expenses. And even though the selection of statements is down, the price tag of the typical claim from pet dog bites &#8230

The posting When Dogs Bite, Residence Insurers Spend Ordinary $32,000 appeared very first on Insurance policies Journal.

Fri, fifteen May well 2015 12:59:27 +0000
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Amtrak Prepare Crash Victims Face $200M Injuries Cap Below Federal Regulation

There are lots of thoughts bordering Tuesday’s Amtrak crash. The amount of income victims could get for accidents is not 1 of them as federal law caps complete rail-accident damages at $two hundred million. Congress founded the limit in 1997 on all rail &#8230

The report Amtrak Prepare Crash Victims Confront $200M Accidents Cap Underneath Federal Regulation appeared 1st on Insurance plan Journal.

Fri, fifteen May perhaps 2015 13:twenty:56 +0000
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Brit Appoints Courchaine, Canna to New Normal Legal responsibility Crew for U.S.

World specialty insurer Brit PLC  has named Steve Courchaine as senior vice president to launch a new General Legal responsibility staff for Brit World Specialty United states. Courchaine was formerly chief underwriting officer of IFG and has 30 decades of expertise underwriting &#8230

The write-up Brit Appoints Courchaine, Canna to New Typical Legal responsibility Workforce for U.S. appeared initial on Coverage Journal.

Fri, 15 May possibly 2015 sixteen:fifty three:30 +0000
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Willis Re Launches $400M Reinsurance Facility to Include Catastrophic Liabilities

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Missouri Female Awarded $77M in Wells Fargo Situation

A Missouri jury has awarded a female $seventy seven million in damages in a lawsuit alleging Wells Fargo Bank mismanaged her family trusts, costing her tens of thousands and thousands of bucks. The St. Louis County jury, right after a trial of additional than &#8230

The report Missouri Lady Awarded $77M in Wells Fargo Scenario appeared 1st on Insurance Journal.

Thu, 14 Might 2015 sixteen:53:00 +0000
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Lloyd’s Marketplace Affiliation Announces 2015 Board Election Benefits

The Lloyd’s Market place Association (LMA) has announced six newly elected board users. They are: Andrew Brooks, CEO, Ascot Underwriting Stephen Eccles, lively underwriter, Tourists Syndicate Management Richard Harries, CEO, Atrium Underwriters Andrew McMellin, chief executive &#8211 Uk &#38 Ireland, XL Catlin &#8230

The posting Lloyd’s Sector Association Announces 2015 Board Election Results appeared initially on Insurance coverage Journal.

Thu, fourteen Could 2015 eleven:01:10 +0000
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Workers’ Comp Business Improved in 2014 But NCCI Sees Trouble Ahead

The personnel&#8217 compensation field experienced a fairly good 2014 in which its combined ratio enhanced for the 3rd consecutive yr, high quality grew for the fourth consecutive year, and assert frequency declined about two p.c. But the outcomes in 2014 ended up &#8230

The article Employees&#8217 Comp Business Improved in 2014 But NCCI Sees Trouble Ahead appeared initial on Insurance plan Journal.

Thu, 14 May perhaps 2015 sixteen:forty four:fifty seven +0000
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Willis Re Launches $400M Reinsurance Facility to Go over Catastrophic Liabilities

Willis Re, the reinsurance division of Willis Team Holdings plc, has established a syndicated reinsurance facility offering the broadest defense accessible for insurers from catastrophic and systemic reduction accumulations arising from legal responsibility portfolios. Named PRIMO, the facility responds to increasing &#8230

The posting Willis Re Launches $400M Reinsurance Facility to Address Catastrophic Liabilities appeared to start with on Insurance Journal.

Thu, 14 Might 2015 07:58:12 +0000
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AssuredPartners Acquires Jones, Raphael & Oulundsen in Connecticut

AssuredPartners Inc. announced its acquisition of Jones, Raphael &#038 Oulundsen Inc. (JRO), an independent insurance policies agency primarily based in New Britain, Connecticut. Terms of the transaction were not disclosed. JRO will go on to function beneath the local management of Vice President &#8230

The report AssuredPartners Acquires Jones, Raphael &#038 Oulundsen in Connecticut appeared initially on Coverage Journal.

Thu, fourteen May well 2015 13:27:45 +0000
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Selective Insurance plan in New Jersey Announces Senior Officer Appointments

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Selective Coverage in New Jersey Announces Senior Officer Appointments

Selective Insurance policy Team Inc. in Branchville, New Jersey, introduced the subsequent appointments by its subsidiary, Selective Insurance plan Firm of America. George Neale to govt vice president, main statements officer. Neale joined Selective in April 2013. Prior to that, he served &#8230

The post Selective Insurance policies in New Jersey Announces Senior Officer Appointments appeared initially on Insurance Journal.

Wed, 13 May well 2015 fifteen:43:19 +0000
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New Legislation in Oklahoma Sets Needs for Community Adjusters

Oklahoma’s governor has signed legislation proposed by the condition coverage division that specifies specified essential and prohibited actions of community adjusters. In accordance to Insurance plan Commissioner John D. Doak, Senate Invoice 439, signed by Gov. Mary Fallin aims to protect Oklahoma storm &#8230

The posting New Legislation in Oklahoma Sets Demands for Community Adjusters appeared initial on Insurance policy Journal.

Wed, 13 May 2015 fifteen:40:fifty eight +0000
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Boat Explosion at Tennessee Marina Leaves Female Injured

A lady is in the healthcare facility remaining handled for burns right after a boat exploded at the gasoline dock of a west Tennessee marina. Numerous information stores report the explosion transpired Sunday morning at Harmony Marina in west Knoxville. The marina &#8230

The article Boat Explosion at Tennessee Marina Leaves Girl Injured appeared 1st on Insurance coverage Journal.

Wed, thirteen May 2015 08:00:31 +0000
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Washington Medical center Joins “Superbug” Match Towards Scope Maker

A Seattle, Wash. clinic has joined a lawsuit against the manufacturer of endoscopy medical scopes joined to a &#8220superbug&#8221 outbreak at the health-related middle, declaring the company, Olympus America Inc., set patients life at threat by failing to disclose style &#8230

The post Washington Clinic Joins &#8220Superbug&#8221 Suit In opposition to Scope Maker appeared 1st on Coverage Journal.

Wed, 13 May 2015 15:03:forty one +0000
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Vacationers Opens $200M Data Center in Nebraska

A New-York dependent insurance coverage agency has opened a $200 million info heart in Nebraska’s Sarpy County, the most current of these facilities designed in the region for providers like Fidelity, Yahoo, Cabela&#8217s and Cosentry. Gov. Pete Ricketts and other officials celebrated &#8230

The post Travelers Opens $200M Facts Heart in Nebraska appeared to start with on Insurance Journal.

Wed, 13 May perhaps 2015 15:55:56 +0000
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Super Typhoon Noul Delivers Glancing Blow to the Philippines: AIR Evaluation

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N.H. Gov. Hassan Appeals FEMA Selection to Deny Disaster Extension

New Hampshire Gov. Maggie Hassan is interesting FEMA&#8217s choice to deny an extension for towns&#8217 snow-removing initiatives following a blizzard in January. In March, a disaster declaration was authorized for the point out, ordering federal help to support restoration endeavours in &#8230

The posting N.H. Gov. Hassan Appeals FEMA Decision to Deny Catastrophe Extension appeared first on Insurance policy Journal.

Tue, twelve Might 2015 16:59:30 +0000
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Got Sufficient Motorbike Insurance policy?

The temperature&rsquos climbing, summer time&rsquos on the way, and the audio of revving hogs can be heard in the land. It&rsquos time to get your bike jogging and head out on the highway — but ahead of you go, make sure you have more than enough motorcy…

EINSURANCE Automobile Insurance policy
Mon, eleven May well 2015 00:00:00 GMT
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Super Hurricane Noul Provides Glancing Blow to the Philippines: AIR Analysis

According to catastrophe modeling agency AIR Throughout the world, Super Typhoon Noul “made a brief landfall alongside the mountainous northeastern idea of the principal Philippine island of Luzon close to the small metropolis of Santa Ana, late Sunday afternoon, Might ten, neighborhood time.” &#8230

The post Tremendous Typhoon Noul Provides Glancing Blow to the Philippines: AIR Evaluation appeared to start with on Insurance plan Journal.

Tue, twelve May 2015 09:25:57 +0000
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Tech Assets 39% A lot more Uncovered than House: Aon, Ponemon Report

Aon has unveiled a 2015 World Cyber Influence Report, performed by the Ponemon Institute, a research business that specializes in finding out privateness, info protection and information and facts protection, which Aon plc sponsors. The study “found that facts know-how property are 39 &#8230

The short article Tech Belongings 39% Much more Uncovered than Residence: Aon, Ponemon Report appeared first on Insurance coverage Journal.

Tue, 12 Could 2015 09:21:22 +0000
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Outflows From Pimco Cut Allianz Asset Management’s Q1 Revenue by 14%

Allianz SE, Europe’s most important insurer, explained very first-quarter profit from asset management slid on outflows from Pacific Investment decision Administration Co. Functioning income at the business enterprise, which consists of Newport Seaside, California-dependent Pimco and Allianz World Investors, fell 14 p.c to 555 &#8230

The short article Outflows From Pimco Cut Allianz Asset Management&#8217s Q1 Income by 14% appeared initial on Insurance plan Journal.

Tue, twelve May 2015 09:09:11 +0000
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