richchastain: December 2017

Sunday, December 31, 2017

Cyber liability insurance market: Equal parts promise and peril

The cyber liability insurance market presents opportunities as well as potential hazards for insurers.
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Cyber liability insurance market: Equal parts promise and peril was originally posted by ClaimsMate.com Insurance Information Resources

Friday, December 29, 2017

Fairfax Financial Sells Singapore Insurer to Mitsui Sumitomo for $1.6B

Fairfax Financial Holdings said it has successfully sold a Singapore insurer to Japan’s Mitsui Sumitomo Insurance Co. for US$1.6 billion.The deal between the Toronto, Canada-based P/C insurance, reinsurance and investment management holding company, and Mitsui Sumitomo involves the sale of …
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Fairfax Financial Sells Singapore Insurer to Mitsui Sumitomo for $1.6B was originally posted by ClaimsMate.com Insurance Information Resources

Groups Say Flint Violating Legal Settlement Over Tainted Water

Plaintiffs in a landmark legal settlement related to Flint’s lead-tainted water are accusing the city of failing to comply with the deal and are asking a federal judge to enforce it. The Natural Resources Defense Council and American Civil Liberties …
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Groups Say Flint Violating Legal Settlement Over Tainted Water was originally posted by ClaimsMate.com Insurance Information Resources

Suit Targets Oregon Hotel, Backpage.com Following Woman’s killing

The estate of a woman has filed a $3.6 million lawsuit against Backpage.com and the owners of the Portland, Ore., hotel where she was killed by a man she’d met for sex. The suit says 25-year-old Ashley Benson had been …
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Suit Targets Oregon Hotel, Backpage.com Following Woman’s killing was originally posted by ClaimsMate.com Insurance Information Resources

Chaos of Washington Train Derailment Comes Through in 911 Calls

Several victims of the Amtrak train derailment south of Seattle called for 911 for help, whimpering in pain, bleeding from head injuries and dazed by the enormity of the crash. Dozens of 911 call recordings released by South Sound 911 …
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Chaos of Washington Train Derailment Comes Through in 911 Calls was originally posted by ClaimsMate.com Insurance Information Resources

Old Republic in Illinois Names Lange Senior Vice President

Chicago, Ill.-based Old Republic International Corp. has named Jeffrey Lange senior vice president in underwriting and distribution of the Old Republic General Insurance Group Inc. Concurrently, he will become a member of ORGIG’s office of the chief executive officer, this …
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Old Republic in Illinois Names Lange Senior Vice President was originally posted by ClaimsMate.com Insurance Information Resources

Despite Temporary Housing Shortage, FEMA’s $150K Disaster Trailers Often Sold

The federal government typically spends up to $150,000 apiece – not counting utilities, maintenance or labor – on the trailers it leases to disaster victims, then auctions them at cut-rate prices after 18 months of use or the first sign …
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Despite Temporary Housing Shortage, FEMA’s $150K Disaster Trailers Often Sold was originally posted by ClaimsMate.com Insurance Information Resources

Bitter Cold Takes Hold of Northern U.S.

Bitter cold weather has taken hold of much of the northern United States and is expected to stay put for days to come as two Minnesota cities already have set record low temperatures and a city in Pennsylvania continues to …
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Bitter Cold Takes Hold of Northern U.S. was originally posted by ClaimsMate.com Insurance Information Resources

Verdict Pending in Connecticut Lawsuit Over 2011 Plane Crash

A federal judge is considering whether an airline company should pay damages to a Connecticut woman injured in a plane crash in Guyana, South America, in 2011. Judge Michael Shea in Hartford, Conn., presided over a non-jury trial earlier this …
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Verdict Pending in Connecticut Lawsuit Over 2011 Plane Crash was originally posted by ClaimsMate.com Insurance Information Resources

New York’s Financial Watchdog Proposes ‘Best Interest’ Rules

New York State’s top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Products that best fit …
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New York’s Financial Watchdog Proposes ‘Best Interest’ Rules was originally posted by ClaimsMate.com Insurance Information Resources

6 ways cybersecurity changed in 2017

The insurance industry now knows its unique position in the battle against cyber criminals and malfeasance.
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6 ways cybersecurity changed in 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Allianz Buys 49% Stake in General Insurance Businesses of UK’s LV=

Allianz Group announced it has acquired a 49 percent stake in Liverpool Victoria Friendly Society’s UK general insurance businesses, the first stage in the creation of the companies’ joint venture and strategic partnership. The venture creates a general insurance business …
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Allianz Buys 49% Stake in General Insurance Businesses of UK’s LV= was originally posted by ClaimsMate.com Insurance Information Resources

QBE Insurance Settles Shareholder Class Action in Australia for US$103.2M

QBE Insurance Group Ltd. has agreed to pay A$132.5 million (US$103.2 million) to settle a shareholder class action in Australia. The class action was commenced by Money Max Interest Pty Ltd on Sept. 9, 2015 in the Federal Court of …
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QBE Insurance Settles Shareholder Class Action in Australia for US$103.2M was originally posted by ClaimsMate.com Insurance Information Resources

Questions Remain Despite Fewer Oregon Workplace Fatalities

Frankie Crispen Jr. had a lot to look forward to this past November. He was set to take the rigorous exam that could elevate him to journeyman electrician after four years as an apprentice. Thanksgiving came the day after the …
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Questions Remain Despite Fewer Oregon Workplace Fatalities was originally posted by ClaimsMate.com Insurance Information Resources

Safety a Consideration Before Choosing New Dresser or TV

Thinking about getting a new flat-screen TV for the holidays, or a dresser for the baby’s room? Factor safety into your choice. The U.S. Consumer Product Safety Commission warns TVs and furniture like dressers and chests pose tip-over risks if …
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Safety a Consideration Before Choosing New Dresser or TV was originally posted by ClaimsMate.com Insurance Information Resources

Assignment of Benefits Abuse Tops Florida News for 2017

Florida’s ongoing battle with assignment of benefits (AOB) claims abuse was not a new topic in 2017, but it was certainly one of the hottest ones for Southeast readers. From threats of insurer ratings downgrades caused by the escalation in …
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Assignment of Benefits Abuse Tops Florida News for 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Hurricanes and Hailstorms Dominated the News in IJ’s South Central Region

Among the most read news stories in Insurance Journal’s South Central region during 2017 concerned Hurricane Harvey and Texas hailstorm (aka natural catastrophe insurance claims) legislation. The insurance industry in Texas for years has been pushing for legislation aimed at …
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Hurricanes and Hailstorms Dominated the News in IJ’s South Central Region was originally posted by ClaimsMate.com Insurance Information Resources

Trade Secrets, Tragedies Among Year’s Top Stories in West

Trade secrets and Hippos, lawsuits and tragedies. The news for 2017 didn’t seem to be dominated by a single trend or sole event, but in an ever-fractured media world that must try and cater to short attention spans and social …
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Trade Secrets, Tragedies Among Year’s Top Stories in West was originally posted by ClaimsMate.com Insurance Information Resources

2017 ‘One of Worst’ for U.S. Weather with 15 Events Costing $1 Billion or More

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the U.S. received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash …
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2017 ‘One of Worst’ for U.S. Weather with 15 Events Costing $1 Billion or More was originally posted by ClaimsMate.com Insurance Information Resources

Nebraska Legislature Likely to Revisit Occupational Licensing, Tax Issues in 2018

Expect some new debates on old measures when Nebraska lawmakers return to the Capitol next month for the 2018 session. Senators have spent the last few months tinkering with proposals that stalled last year in hopes of reviving them during …
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Nebraska Legislature Likely to Revisit Occupational Licensing, Tax Issues in 2018 was originally posted by ClaimsMate.com Insurance Information Resources

Chicago Police Issue Revised Policy on Use of Tasers

The Chicago Police Department has rewritten rules on the use of Tasers to deter officers from using them on people who are running away or vulnerable to injury. The Chicago Tribune reported that the tightened policy follows the newspaper’s investigation …
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Chicago Police Issue Revised Policy on Use of Tasers was originally posted by ClaimsMate.com Insurance Information Resources

Opioid Overdoses Behind Drop in Life Expectancy for Americans

Life expectancy among Americans has fallen for the second year in a row as the opioid crisis continues to drive up overall death rates in the United States, the Centers for Disease Control and Prevention said. A total of 63,000 …
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Opioid Overdoses Behind Drop in Life Expectancy for Americans was originally posted by ClaimsMate.com Insurance Information Resources

Tulsa Sheriff’s Office Racks Up Legal Fees

The Tulsa County Sheriff’s Office has more than $850,000 in legal fees this year with nearly half of that amount in one lawsuit. The Tulsa World reports that about $398,000 was spent defending a wrongful death lawsuit by the estate …
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Tulsa Sheriff’s Office Racks Up Legal Fees was originally posted by ClaimsMate.com Insurance Information Resources

Trump Administration Seeks to Ease Offshore Drilling Safety Rules

The U.S. Interior Department on Thursday proposed eliminating some safety regulations for offshore oil and gas drilling that the Obama administration put in place after BP’s massive Gulf of Mexico oil spill, a move it said would reduce “unnecessary burdens” …
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Trump Administration Seeks to Ease Offshore Drilling Safety Rules was originally posted by ClaimsMate.com Insurance Information Resources

Oklahoma School District Sued Over Aide’s Alleged Molestation of 15 Girls

An Oklahoma school and its board of directors are being sued on behalf of 15 girls who say they were molested by a teacher’s aide. The federal lawsuit filed last week in Oklahoma City seeks unspecified damages from the Perry …
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Oklahoma School District Sued Over Aide’s Alleged Molestation of 15 Girls was originally posted by ClaimsMate.com Insurance Information Resources

Thursday, December 28, 2017

Despite natural disaster concerns, homeowners aren’t making insurance changes

There seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
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Despite natural disaster concerns, homeowners aren’t making insurance changes was originally posted by ClaimsMate.com Insurance Information Resources

Despite natural disaster concerns, homeowners aren’t making insurance changes

There seems to be a disconnect between homeowners understanding their coverage and what their policy actually covers.
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Despite natural disaster concerns, homeowners aren’t making insurance changes was originally posted by ClaimsMate.com Insurance Information Resources

Insurers Off The Hook for West Virginia Hole-in-One Tournament Payouts

A federal appeals court says Gov. Jim Justice’s charity is stuck with almost $200,000 in payouts made to fans at the 2015 Greenbrier Classic tournament after two golfers aced the 18th hole at his resort in southern West Virginia. The …
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Insurers Off The Hook for West Virginia Hole-in-One Tournament Payouts was originally posted by ClaimsMate.com Insurance Information Resources

Only once has America seen more billion-dollar weather disasters

Wildfires and hurricanes have combined to create a costly year for insurers and reinsurers.
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Only once has America seen more billion-dollar weather disasters was originally posted by ClaimsMate.com Insurance Information Resources

Only once has America seen more billion-dollar weather disasters

Wildfires and hurricanes have combined to create a costly year for insurers and reinsurers.
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Only once has America seen more billion-dollar weather disasters was originally posted by ClaimsMate.com Insurance Information Resources

Cities Signing Chicago’s Pact to Tackle Climate Change

Mayor Rahm Emanuel says 10 more cities have joined Chicago’s effort to address climate change after President Donald Trump said the U.S. will pull out of the Paris climate accord. Emanuel said Tuesday that a total of 67 cities worldwide …
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Cities Signing Chicago’s Pact to Tackle Climate Change was originally posted by ClaimsMate.com Insurance Information Resources

Houston Metro Continues to Wrestle with Rail Safety

Collisions remain a constant along the Metro’s light rail track despite a monthslong effort to improve rail safety in the Houston, Texas area. The Metropolitan Transit Authority logged November as its second-worst month for train crashes in more than a …
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Houston Metro Continues to Wrestle with Rail Safety was originally posted by ClaimsMate.com Insurance Information Resources

Oklahoma Supreme Court Overturns Ruling in Liquor Tax Lawsuit

The Oklahoma Supreme Court has overturned a lower court ruling that hundreds of restaurants in the state overcharged customers for mixed drinks. Lawsuits filed in 2011 by Tom Erbar and John Truel alleged restaurants overcharged by adding a 13.5 percent …
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Oklahoma Supreme Court Overturns Ruling in Liquor Tax Lawsuit was originally posted by ClaimsMate.com Insurance Information Resources

Company in Indiana Ordered by Judge to Uphold Insurance Polices

A public television station has won a court battle over insurance policies that could pay for cleaning up contamination at the site of a shuttered Evansville dry-cleaning business. Judge Richard D’Amour ordered Red Ink Management LLC on Wednesday to maintain …
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Company in Indiana Ordered by Judge to Uphold Insurance Polices was originally posted by ClaimsMate.com Insurance Information Resources

Pot-Infused Fare from Wine to Tacos on California’s Menu

The sauvignon blanc boasts brassy, citrus notes, but with one whiff, it’s apparent this is no normal Sonoma County wine. It’s infused with THC, the psychoactive ingredient in marijuana that provides the high. Move over, pot brownies. The world’s largest …
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Pot-Infused Fare from Wine to Tacos on California’s Menu was originally posted by ClaimsMate.com Insurance Information Resources

AIG Singapore Launches Online Motor Accident Reporting Platform

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched an online motor accident reporting platform that allows policyholders to make accident reports and commence the claims process online. Designed to streamline the customer experience, AIG Singapore said, the platform …
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AIG Singapore Launches Online Motor Accident Reporting Platform was originally posted by ClaimsMate.com Insurance Information Resources

USGS: Pair of Quakes Rattled Central California

The U.S. Geological Survey confirmed that a pair of minor earthquakes just a few hours apart rattled the San Jose area in central California. The Mercury News of San Jose, citing the USGS, reported a 3.1 magnitude quake hit an …
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USGS: Pair of Quakes Rattled Central California was originally posted by ClaimsMate.com Insurance Information Resources

Japan Data-Tampering Scandals Show Dangers of ‘Sacrificing Quality’ to Save Costs

A string of data-tampering scandals at Japanese manufacturers has not tarnished Japan’s image, though it has been a powerful reminder to avoid sacrificing quality when under cost or delivery pressure, a senior economic official said on Wednesday [Dec. 27]. Since …
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Japan Data-Tampering Scandals Show Dangers of ‘Sacrificing Quality’ to Save Costs was originally posted by ClaimsMate.com Insurance Information Resources

15 U.S. Weather Disasters Costing a Billion Dollars or More so far in 2017

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15 U.S. Weather Disasters Costing a Billion Dollars or More so far in 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Nevada Residents Sue City in $3.6M Suit Over February Flooding

Dozens of northern Nevada residents are suing the city of Elko for more than $3.6 million over damage caused by extensive flooding last February. State Assemblyman John Ellison is among the 60 plaintiffs listed in the negligence suit filed earlier …
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Nevada Residents Sue City in $3.6M Suit Over February Flooding was originally posted by ClaimsMate.com Insurance Information Resources

Sugary Sports Beans, Uber Divorce Claims Among Chamber’s ‘Most Ridiculous’ Lawsuits of 2017

A lawsuit by a woman claiming she was deceived about the amount of sugar in an exercise supplement called Sport Beans tops the list of what a top U.S. business lobby sees as the “most ridiculous” lawsuits of 2017. Jelly …
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Sugary Sports Beans, Uber Divorce Claims Among Chamber’s ‘Most Ridiculous’ Lawsuits of 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Utica National Insurance Group Surpasses $1B in Direct Written Premiums

Utica National Insurance Group has announced that it has become a billion dollar company for the first time in its nearly 104-year history. The company surpassed $1 billion in direct written premiums on December 22, 2017. Utica National Insurance Group …
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Utica National Insurance Group Surpasses $1B in Direct Written Premiums was originally posted by ClaimsMate.com Insurance Information Resources

New Jersey Contractor Hit with Fraud Charges Over Post-Sandy Work

A contractor who performed work on Superstorm Sandy-damaged homes pressured customers into signing contracts and then performed shoddy work it failed to correct, state prosecutors alleged Tuesday. State Attorney General Christopher Porrino announced charges against Jersey Pride Home Renovations of …
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New Jersey Contractor Hit with Fraud Charges Over Post-Sandy Work was originally posted by ClaimsMate.com Insurance Information Resources

6 keys to adjusting food-related restaurant claims

Restaurant claims involve more than the traditional general liability exposures.
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6 keys to adjusting food-related restaurant claims was originally posted by ClaimsMate.com Insurance Information Resources

6 keys to adjusting food-related restaurant claims

Restaurant claims involve more than the traditional general liability exposures.
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6 keys to adjusting food-related restaurant claims was originally posted by ClaimsMate.com Insurance Information Resources

Contractor Charged With Fraud Over Post-Sandy Work

A New Jersey contractor who performed work on Superstorm Sandy-damaged homes pressured customers into signing contracts and then performed shoddy work it failed to correct, state prosecutors alleged Tuesday. State Attorney General Christopher Porrino announced charges against Jersey Pride Home …
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Contractor Charged With Fraud Over Post-Sandy Work was originally posted by ClaimsMate.com Insurance Information Resources

Uncertain Future for Fire Lookouts in the Pacific Northwest

Imagine waking up to the sun cresting a ridge of the Cascade Mountains. You look out the window, and through the dawn light you can see clouds still settled over a lush alpine forest. You’re in a tower in the …
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Uncertain Future for Fire Lookouts in the Pacific Northwest was originally posted by ClaimsMate.com Insurance Information Resources

Houston Metro Continues to Struggle With Rail Safety

Collisions remain a constant along the Metro’s light rail track despite a months-long effort to improve rail safety in the Houston area. The Metropolitan Transit Authority logged November as its second-worst month for train crashes in more than a year, …
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Houston Metro Continues to Struggle With Rail Safety was originally posted by ClaimsMate.com Insurance Information Resources

Argentine Grains Hub Blast Kills One, Causes Injuries; Shipping Activities Affected

An explosion at a port operated by Chinese export company COFCO in Argentina’s grains hub of Rosario on Wednesday killed one person, injured others and affected shipping activities, local authorities said. Television images showed thick black clouds of smoke billowing …
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Argentine Grains Hub Blast Kills One, Causes Injuries; Shipping Activities Affected was originally posted by ClaimsMate.com Insurance Information Resources

Kobe Steel Admits 3 Senior Executives Knew About Data Falsification

Kobe Steel Ltd, at the center of a data-falsification scandal that has shaken Japan’s manufacturing industry, admitted for the first time that executives were aware of the cheating, and reassigned three senior officials. Japan’s No.3 steelmaker, which supplies the manufacturers …
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Kobe Steel Admits 3 Senior Executives Knew About Data Falsification was originally posted by ClaimsMate.com Insurance Information Resources

Houston Light Rail System Still Struggles with Collisions

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Houston Light Rail System Still Struggles with Collisions was originally posted by ClaimsMate.com Insurance Information Resources

Fancher Named Digital Transformation Officer at American Family Insurance

Madison, Wisconsin-based American Family Insurance has named Todd Fancher as its first digital transformation officer. Fancher will oversee American Family group’s strategic investment in technology and practices that provide better service and value to customers, such as artificial intelligence (AI), …
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Fancher Named Digital Transformation Officer at American Family Insurance was originally posted by ClaimsMate.com Insurance Information Resources

Lawyer Hit by Garbage Can to Get $2.1 Million from Insurers for Des Moines

Insurers for the city of Des Moines paid $2.1 million to a lawyer who alleged he suffered head injuries when he was hit by a falling garbage can. The city released a copy of its November settlement with Jaysen McCleary …
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Lawyer Hit by Garbage Can to Get $2.1 Million from Insurers for Des Moines was originally posted by ClaimsMate.com Insurance Information Resources

Michigan Fights Federal Judge’s Ruling Restricting Driver’s License Suspensions

The state of Michigan is trying to stop a court order that prevents officials from suspending the driver’s licenses of people who can’t afford traffic fines. Lawyers representing the secretary of state have filed an emergency request with a federal …
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Michigan Fights Federal Judge’s Ruling Restricting Driver’s License Suspensions was originally posted by ClaimsMate.com Insurance Information Resources

Building for Climate Change: Miami’s High-Net Worth High-Rises as a Model

The Monad Terrace—a 59-unit Miami Beach luxury condominium—hasn’t been built yet, but its salesroom is up and running. Set on the ground floor of an office building a few blocks from the Monad’s bayfront building site, the space recreates the …
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Building for Climate Change: Miami’s High-Net Worth High-Rises as a Model was originally posted by ClaimsMate.com Insurance Information Resources

Number of Strong Earthquakes in Oklahoma Continues to Decline

Regulators and scientists say the number of 3.0 magnitude or stronger earthquakes in Oklahoma is declining. The Oklahoma Geological Survey reports the number of quakes of at least that magnitude during 2017 was 294 through mid-December, compared to 624 total …
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Number of Strong Earthquakes in Oklahoma Continues to Decline was originally posted by ClaimsMate.com Insurance Information Resources

Wednesday, December 27, 2017

Ascension in California Names Lopez President of Employee Benefits Division

Walnut Creek, Calif.-based Ascension Insurance Inc. has named Keri Lopez president of employee benefits. Lopez will build Ascension’s employee benefits market presence nationally. She has 19 years of employee benefits consulting experience. Lopez was previously president of Western region benefits …
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Ascension in California Names Lopez President of Employee Benefits Division was originally posted by ClaimsMate.com Insurance Information Resources

Claims Journal’s Top 10 Contributed Articles in 2017

Insurance industry experts offered unique analysis and perspective throughout the year on a range of article topics, including machine learning, easing return to work and contents claims handling. The top contributed Claims Journal articles this year tackle subjects, like improving …
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Claims Journal’s Top 10 Contributed Articles in 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Mississippi Reports No Fatal Crashes Over Holiday Weekend, 61 DUIs

The Mississippi Highway Patrol says nobody died in traffic accidents on roads they monitored during the long Christmas weekend. The holiday enforcement period on state and federal highways began Friday evening and ended late Monday. The patrol says in a …
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Mississippi Reports No Fatal Crashes Over Holiday Weekend, 61 DUIs was originally posted by ClaimsMate.com Insurance Information Resources

Louisiana drafts aggressive response to climate-linked flooding

Louisiana is finalizing a plan to move thousands of people from areas threatened by the rising Gulf of Mexico.
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Louisiana drafts aggressive response to climate-linked flooding was originally posted by ClaimsMate.com Insurance Information Resources

California Reports 2016 Fatal Occupational Injuries Down

The California Department of Industrial Relations is reporting that 376 Californians died on the job in 2016, down slightly from the 388 deaths in 2015. A review of the past 12 years indicates that workplace fatalities in California remain below …
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California Reports 2016 Fatal Occupational Injuries Down was originally posted by ClaimsMate.com Insurance Information Resources

Taxable Cost Award Capped by Policy Limits According to Minnesota Supreme Court

Under Minn. Stat. §604.18, insureds are entitled to recover taxable costs when an insurance company unreasonably denies insurance benefits. The statute provides a remedy of one-half of the “proceeds awarded” that are in excess of an amount offered by the …
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Taxable Cost Award Capped by Policy Limits According to Minnesota Supreme Court was originally posted by ClaimsMate.com Insurance Information Resources

Wildfires Cost Montana $240M in Tourist Spending

A new report says summer fires cost the state of Montana $240 million in visitor spending. The Bozeman Daily Chronicle reported preliminary date released by the University of Montana’s Institute for Tourism and Recreational Research estimates that tourists spent almost …
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Wildfires Cost Montana $240M in Tourist Spending was originally posted by ClaimsMate.com Insurance Information Resources

Lawsuit Seeks $70M from Montana Diocese for Abuse Victims

Representatives of sex abuse victims and their survivors are suing a bankrupt Roman Catholic diocese in Montana in an effort to ensure more than $70 million in assets are available for those abused by church officials. The Diocese of Great …
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Lawsuit Seeks $70M from Montana Diocese for Abuse Victims was originally posted by ClaimsMate.com Insurance Information Resources

Multiple Homes Damaged in Delaware Fire

Multiple homes have been severely damaged by fire in Delaware. News outlets report a Monday night fire in Slaughter Beach left at least two houses destroyed, and caused damage to multiple others. An assistant state fire marshal with the Kent …
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Multiple Homes Damaged in Delaware Fire was originally posted by ClaimsMate.com Insurance Information Resources

Typhoon Tembin Leaves Trail of Death, Destruction in Philippines

A powerful storm that left a trail of death and destruction in the Philippines was downgraded to a tropical depression Tuesday [Dec. 26] and failed to make landfall in Vietnam. Hundreds of thousands of people in Vietnam’s Mekong Delta had …
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Typhoon Tembin Leaves Trail of Death, Destruction in Philippines was originally posted by ClaimsMate.com Insurance Information Resources

Judge Nixes $150M Damages Against Testosterone Drugmaker AbbVie

A U.S. judge on Friday overturned a $150 million verdict against AbbVie Inc. that was the first to result from lawsuits claiming that the company fraudulently misrepresented the risks of its testosterone replacement drug AndroGel. U.S. District Judge Matthew Kennelly …
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Judge Nixes $150M Damages Against Testosterone Drugmaker AbbVie was originally posted by ClaimsMate.com Insurance Information Resources

Insurers need strategic shifts to compete in a digital world

In the year ahead, insurers will be challenged to effectively anticipate and adapt to an accelerating evolution in how insurance is designed, sold and serviced.
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Insurers need strategic shifts to compete in a digital world was originally posted by ClaimsMate.com Insurance Information Resources

Insurers need strategic shifts to compete in a digital world

In the year ahead, insurers will be challenged to effectively anticipate and adapt to an accelerating evolution in how insurance is designed, sold and serviced.
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Insurers need strategic shifts to compete in a digital world was originally posted by ClaimsMate.com Insurance Information Resources

Capturing insurance's most wanted fraudsters

Those on the most wanted lists have committed a wide range of insurance fraud.
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Capturing insurance's most wanted fraudsters was originally posted by ClaimsMate.com Insurance Information Resources

Capturing insurance's most wanted fraudsters

Those on the most wanted lists have committed a wide range of insurance fraud.
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Capturing insurance's most wanted fraudsters was originally posted by ClaimsMate.com Insurance Information Resources

New York State Employers Must Comply With New Paid Family Leave Law

New York Governor Andrew Cuomo has signed into law a phased-in system of paid family leave that will become effective on January 1, 2018, for New York employers. On the state level, New York becomes the fifth state (joining California, …
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New York State Employers Must Comply With New Paid Family Leave Law was originally posted by ClaimsMate.com Insurance Information Resources

ArcelorMittal Subsidiary to Pay $1.5M in Pennsylvania Coke Plant Lawsuit

A subsidiary of European steel giant ArcelorMittal has agreed to pay $1.5 million to settle a lawsuit over allegations that its western Pennsylvania coke plant had violated emissions requirements over soot and other pollutants almost daily, according to a proposed …
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ArcelorMittal Subsidiary to Pay $1.5M in Pennsylvania Coke Plant Lawsuit was originally posted by ClaimsMate.com Insurance Information Resources

Making additional repairs without insurer's OK may not be covered

The home owned by Steven Barnwell and Bambi Stetler flooded while it was being renovated. The next day, they reported the flood to Liberty Mutual Insurance Company, their homeowner's insurer.
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Making additional repairs without insurer's OK may not be covered was originally posted by ClaimsMate.com Insurance Information Resources

Ed Appoints Clarkson from Aon as Managing Director – Marine

Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of Heather Clarkson as managing director – Marine. She takes up her role on Jan. 2, 2018 and will report to Andrew Draycott, CEO – Energy, Marine & Construction. …
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Ed Appoints Clarkson from Aon as Managing Director – Marine was originally posted by ClaimsMate.com Insurance Information Resources

Drug Makers Face Additional Liability After California High Court Decision

A sharply divided California Supreme Court ruled Thursday that pharmaceutical companies can be held liable for warning labels on generic versions of drugs they once made even after they’ve sold the drugs to other companies and stopped manufacturing them. The …
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Drug Makers Face Additional Liability After California High Court Decision was originally posted by ClaimsMate.com Insurance Information Resources

Indiana Firm Ordered to Uphold Insurance Policies for Toxic Site Cleanup

A public television station has won a court battle over insurance policies that could pay for cleaning up contamination at the site of a shuttered Evansville, Indiana, dry-cleaning business. Judge Richard D’Amour ordered Red Ink Management LLC on Wednesday to …
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Indiana Firm Ordered to Uphold Insurance Policies for Toxic Site Cleanup was originally posted by ClaimsMate.com Insurance Information Resources

Hundreds of Superfund Sites Face Flood Risks

When Anthony Stansbury moved down the street from the Anclote River in Florida last year, he didn’t know his slice of paradise had a hidden problem. The neighborhood is adjacent to the Stauffer Chemical Co. Superfund site, a former chemical …
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Hundreds of Superfund Sites Face Flood Risks was originally posted by ClaimsMate.com Insurance Information Resources

Clarke Named President of TDECU Insurance Agency

Connie Clarke has been appointed president of TDECU Insurance Agency LLC in Lake Jackson, Texas. Clarke brings more than 20 years’ experience in both the insurance and financial services industries to the organization, ranked as Houston’s largest credit union. Clarke …
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Clarke Named President of TDECU Insurance Agency was originally posted by ClaimsMate.com Insurance Information Resources

Workplace Fatalities Continue to Increase, with Transportation Incidents #1 Cause

There were 5,190 workplace fatalities reported in the U.S. in 2016, a seven percent increase over the previous year. According to the Bureau of Labor Statistics’ Census of 2016 Fatal Occupational Injuries, the fatal injury rate increased from 3.4 per …
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Workplace Fatalities Continue to Increase, with Transportation Incidents #1 Cause was originally posted by ClaimsMate.com Insurance Information Resources

Tuesday, December 26, 2017

Is your business entitled to insurance coverage for additional lost profits?

Insurance agents can help businesses ensure they maximize insurance coverage for natural disaster lost income.
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Is your business entitled to insurance coverage for additional lost profits? was originally posted by ClaimsMate.com Insurance Information Resources

Monday, December 25, 2017

Archaeology and the big freeze – Part one

Lessons from the Inuits in Greenland apply to insurance today.
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Archaeology and the big freeze – Part one was originally posted by ClaimsMate.com Insurance Information Resources

Archaeology and the big freeze – Part one

Lessons from the Inuits in Greenland apply to insurance today.
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Archaeology and the big freeze – Part one was originally posted by ClaimsMate.com Insurance Information Resources

Friday, December 22, 2017

Court in California Rules Novartis Can Be Sued Over Generic Drug Injuries

California’s top court has opened the door for consumers to sue Novartis AG and other makers of brand-name pharmaceutical products over injuries blamed on generic versions of the drugs manufactured by other companies. The California Supreme Court’s ruling on Thursday …
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Court in California Rules Novartis Can Be Sued Over Generic Drug Injuries was originally posted by ClaimsMate.com Insurance Information Resources

CNA’s Sather Joins AXIS Insurance U.S. Programs as Underwriter

Matthew Sather has joined the U.S. Programs, Property & Casualty team of AXIS Insurance business unit as a vice president of Underwriting. Sather is based in the company’s Chicago office and reports to John Tatum, executive vice president and head …
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CNA’s Sather Joins AXIS Insurance U.S. Programs as Underwriter was originally posted by ClaimsMate.com Insurance Information Resources

A.M. Best Affirms Allied World’s Ratings

Ratings agency A.M. Best has removed Allied World Assurance Co. Ltd. and its divisions from their status as “under review with negative implications” and affirmed Allied World’s financial strength rating of “A” (Excellent) and the long-term issuer credit ratings of …
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A.M. Best Affirms Allied World’s Ratings was originally posted by ClaimsMate.com Insurance Information Resources

Trump Declares Disaster for New Mexico Native American Community

President Donald Trump has issued a disaster declaration for a New Mexico Native American community that is recovering from the effects of severe weather and flooding. The declaration announced Thursday by the White House frees up federal money to help …
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Trump Declares Disaster for New Mexico Native American Community was originally posted by ClaimsMate.com Insurance Information Resources

Insurance Companies Sue Kodiak Electric in Alaska Over Fire Damage

Two insurance companies filed a lawsuit against the Kodiak Electric Association in Alaska claiming it was responsible for a fire that caused damage to clients’ property. Lexington Insurance Co. and Alaska Municipal League Joint Insurance Association accuse the electric cooperative …
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Insurance Companies Sue Kodiak Electric in Alaska Over Fire Damage was originally posted by ClaimsMate.com Insurance Information Resources

Honda Reports 20th Death due to Exploding Takata Airbag

A faulty Takata airbag inflator has killed another person, this time in Baton Rouge, Louisiana, Honda said Tuesday night. The unidentified person is the 20th death worldwide attributed to the faulty inflators, which can explode with too much force and …
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Honda Reports 20th Death due to Exploding Takata Airbag was originally posted by ClaimsMate.com Insurance Information Resources

What They Are Saying About Effects of Trump Tax Cuts on Insurance Industry

Congress has passed and President Donald Trump will sign the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C corporations will …
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What They Are Saying About Effects of Trump Tax Cuts on Insurance Industry was originally posted by ClaimsMate.com Insurance Information Resources

Amtrak Didn’t Wait for Speed Control System That May Have Prevented Wreck

The rush to launch service on a new, faster Amtrak route near Seattle came at a deadly cost: none of the critical speed-control technology that could have prevented a derailment was active before the train set off on its maiden …
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Amtrak Didn’t Wait for Speed Control System That May Have Prevented Wreck was originally posted by ClaimsMate.com Insurance Information Resources

Pennsylvania Governor Orders Changes to Insurance for Sex Harassment Cases

Pennsylvania’s governor said Wednesday he wants to see changes in a state government self-insurance program that funded a quarter-million-dollar settlement over sexual harassment allegations against a state lawmaker. Democratic Gov. Tom Wolf said he learned this week about the settlement …
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Pennsylvania Governor Orders Changes to Insurance for Sex Harassment Cases was originally posted by ClaimsMate.com Insurance Information Resources

Reinsurance Price Hikes May Be Short-Lived as Capacity Is Abundant: A.M. Best

While overall market conditions may improve over the near term as a result of catastrophe events in the third quarter of 2017, A.M. Best continues to hold a negative outlook for the global reinsurance sector in 2018. In a new …
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Reinsurance Price Hikes May Be Short-Lived as Capacity Is Abundant: A.M. Best was originally posted by ClaimsMate.com Insurance Information Resources

Hackers Target SWIFT Payments System at Russia’s Globex Bank

Hackers tried to steal 55 million roubles ($940,000) from Russian state bank Globex using the SWIFT international payments messaging system, the bank said on Thursday, the latest in a string of attempted cyber heists that use fraudulent wire-transfer requests. Globex …
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Hackers Target SWIFT Payments System at Russia’s Globex Bank was originally posted by ClaimsMate.com Insurance Information Resources

Starr Int’l Insurance Philippines Branch Names Ex-Ambassador Cuisia as Chairman

Starr Cos. announced the appointment of Ambassador Jose L. Cuisia Jr. as chairman of Starr International Insurance Philippines Branch, a branch of Starr International Insurance (Asia) Ltd., a company established and licensed to write general insurance in Hong Kong. Cuisia …
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Starr Int’l Insurance Philippines Branch Names Ex-Ambassador Cuisia as Chairman was originally posted by ClaimsMate.com Insurance Information Resources

IICF Northeast Division Raises Over $1.2M at 11th Annual New York Benefit Gala

The Northeast Division of the Insurance Industry Charitable Foundation (IICF), a nonprofit organization working with the insurance industry to help communities, raised more than $1.2 million at its annual charitable gala on December 13 in New York City. The money …
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IICF Northeast Division Raises Over $1.2M at 11th Annual New York Benefit Gala was originally posted by ClaimsMate.com Insurance Information Resources

When one policy covers the tractor & another the trailer, which insurer pays?

A federal district court in New Jersey has issued a decision resolving a dispute between two insurers over insurance coverage for an accident involving a tractor-trailer.
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When one policy covers the tractor & another the trailer, which insurer pays? was originally posted by ClaimsMate.com Insurance Information Resources

Maryland’s Frederick Mutual Insurance Company Hires Collins

Frederick Mutual Insurance Company has appointed Shad Collins as senior vice president and chief information officer. Collins has relocated to the company’s headquarters in Frederick, Maryland, to take on his new role. He has more than 30 years of experience …
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Maryland’s Frederick Mutual Insurance Company Hires Collins was originally posted by ClaimsMate.com Insurance Information Resources

6 insurance claims so crazy they must be true!

Every adjuster has a collection of memorable claims. Here are six of them, shared by members of the National Association of Independent Insurance Adjusters.
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6 insurance claims so crazy they must be true! was originally posted by ClaimsMate.com Insurance Information Resources

Business News: American Family, Trov/Waymo Partnership, ClaimVantage

American Family Invests in Advanced Analytics and AI Through Acquisition of Networked Insights With the purchase of Chicago-based data and analytics software company, Networked Insights, American Family Insurance will accelerate its digital transformation, including its use of data, advanced analytics …
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Business News: American Family, Trov/Waymo Partnership, ClaimVantage was originally posted by ClaimsMate.com Insurance Information Resources

Emerging tech in P&C insurance: It’s not about the technology

All P&C insurers, across all lines, need to be actively following emerging tech developments and thinking about the implications for business strategy.
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Emerging tech in P&C insurance: It’s not about the technology was originally posted by ClaimsMate.com Insurance Information Resources

Swiss Re: Natural Catastrophe Insured Losses Nearly Doubled in 2017

Preliminary sigma estimates for insured global losses resulting from natural and man-made disasters in 2017 are around $136 billion, well-above the annual average of the previous 10 years, and the third highest since sigma records began in 1970. Total economic …
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Swiss Re: Natural Catastrophe Insured Losses Nearly Doubled in 2017 was originally posted by ClaimsMate.com Insurance Information Resources

Florida Residential Property Insurer Approved to Do Business in Arkansas

Arkansas Insurance Commissioner Allen Kerr has granted a Certificate of Authority to a Florida insurer to begin selling residential property insurance products in Arkansas. Gainesville, Fla.-based Tower Hill Signature Insurance Co. (THS) was formed in 2006 and currently writes residential …
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Florida Residential Property Insurer Approved to Do Business in Arkansas was originally posted by ClaimsMate.com Insurance Information Resources

North Dakota Insurance Department, VA Helping Veterans with Exam Fees

North Dakota Insurance Commissioner Jon Godfread says veterans who have taken or plan to take any of the nine North Dakota insurance producer exams after June 1, 2017, qualify to be reimbursed for their exam fee through a partnership between …
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North Dakota Insurance Department, VA Helping Veterans with Exam Fees was originally posted by ClaimsMate.com Insurance Information Resources

Yeoman Named Branch Executive for Ironshore’s Dallas Region

Ironshore Inc. has appointed Richard Yeoman as branch executive for its Dallas region, effective January 2018. He assumes the role from Ben Johnson, who is pursuing a new opportunity within the organization. Yeoman will lead the marketing and distribution efforts …
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Yeoman Named Branch Executive for Ironshore’s Dallas Region was originally posted by ClaimsMate.com Insurance Information Resources

Texas Southern, Huston-Tillotson Students Receive Insurance Council of Texas Scholarships

The Insurance Council of Texas (ICT) has awarded academic scholarships to two students at Texas Southern University (TSU) in Houston and three students at Huston-Tillotson University (H-T) students in Austin. ICT honored these five students for their success in their …
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Texas Southern, Huston-Tillotson Students Receive Insurance Council of Texas Scholarships was originally posted by ClaimsMate.com Insurance Information Resources