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Updated: 18 hours 6 min ago

Insurers Hope Insurtech Will ‘Nudge’ Customers to Less Risky Behaviors

Tue, 09/19/2017 - 01:00
Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure of products promising to save …

Expert’s Advice to Florida Agents: Report Claims That Fall Below Hurricane Deductible

Tue, 09/19/2017 - 00:48
With many agents currently assisting clients in determining if they have claims and the insurance claim filing process in the aftermath of Hurricane Irma, one most common question received by the Florida Association of Insurance Agents has been: Should you …

4 West Virginians Get Prison For Roles in Staged Crashes

Tue, 09/19/2017 - 00:38
Federal authorities say a West Virginia man has been sentenced to almost three years in prison for a staged vehicle crash, faked injuries and false insurance claim for a $41,000 settlement. According to prosecutors, 34-year-old Michael Sine, of Fairmont, also …

4 Hurricane Irma-Affected U.S. Attorney Offices Form Fraud Task Forces

Tue, 09/19/2017 - 00:28
The National Center for Disaster Fraud (NCDF) along with U.S. Attorneys’ Offices in the District of Puerto Rico, Southern District of Florida, Middle District of Florida and Northern District of Florida have formed task forces comprised of local, state and …

Florida’s Insured Losses From Irma Reach Nearly $2B and Growing

Tue, 09/19/2017 - 00:18
Florida policyholders so far have filed nearly $2 billion in claims to insurers for damage from Hurricane Irma, the state’s insurance regulator said on Monday. The estimate of insured losses is based on preliminary statewide data that insurers filed with …

Markel Enhances Professional Liability Coverage for Hard-to-Place Law Firms

Tue, 09/19/2017 - 00:15
Markel Corporation has enhanced its policy form and protections for hard-to-insure law firms which can no longer secure coverage in the admitted markets. This coverage is available on an excess and surplus (E&S) lines basis using a claims-made policy form. …

Chinese Insurer ZhongAn Initiates $1.5 Billion Hong Kong IPO

Mon, 09/18/2017 - 23:32
ZhongAn Online P&C Insurance Co., China’s largest online insurer, started taking orders for a Hong Kong initial public offering that could raise as much as $1.5 billion. The Shanghai-based company is offering 199.3 million new shares at HK$53.70 to HK$59.70 …

Category 5 Hurricane Maria on Course for Virgin Islands, Puerto Rico

Mon, 09/18/2017 - 22:14
The fourth major Atlantic hurricane of the year, Maria, strengthened into a rare Category 5 storm, as it churned through the eastern Caribbean, bearing down on the tiny island nation of Dominica while on a likely collision course with the …

Sunderman Appointed President of Hotchkiss Insurance Programs

Mon, 09/18/2017 - 21:39
Hotchkiss Insurance Programs LLC, based in Dallas, has appointed Timothy Sunderman as president. He will assume operational responsibility and will report to Michael Hotchkiss, the company’s chief executive officer. Sunderman’s primary focus will be to preserve, optimize and grow Hotchkiss …

Hub International Acquires Louisiana’s Benefit Advisory Group

Mon, 09/18/2017 - 21:31
Chicago-based insurance brokerage Hub International Limited (Hub), has acquired the assets of Benefit Advisory Group LLC (Benefits Advisory Group), with offices in New Orleans and Baton Rouge, La. Terms of the acquisition were not disclosed. Benefit Advisory Group specializes in …

‘Future-Proofing’ Texas a Political, Bureaucratic Challenge for Harvey Recovery Czar

Mon, 09/18/2017 - 21:28
The man tasked with overseeing Texas’ Hurricane Harvey rebuilding efforts sees his job as “future-proofing” before the next disaster, but he isn’t empowered on his own to reshape flood-prone Houston or the state’s vulnerable coastline, which has been walloped by …

Employers Expect Above-Average Rise in Cost of Employee Benefits in 2018: Mercer Survey

Mon, 09/18/2017 - 12:31
Employers expect that their average cost per-employee for health benefits will rise by 4.3 percent in 2018, which is above the average increase of 3 percent of the past five years. Early responses from Mercer’s National Survey of Employer-Sponsored Health …

Iowa Judge: ‘Shadow Insurance’ Documents Are Confidential

Mon, 09/18/2017 - 12:12
An Iowa judge has ruled that the details of “shadow insurance” subsidiaries created by several life insurers can remain confidential. Indiana University professor emeritus Joseph Belth sought the documents last year under Iowa’s open records law, saying he believes they …

Hurricane Harvey-Caused Oil, Chemical Spills Dwarfed by Katrina’s

Mon, 09/18/2017 - 12:08
More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of natural gas and hundreds of tons of other toxic substances, a Reuters …

Hurricanes to Usher in Short-Term Hard Market for Property Risks: Survey

Mon, 09/18/2017 - 12:06
Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report downplayed initial concerns that …

Arizona Gets $3.1M in Funding to Combat Opioid Abuse

Mon, 09/18/2017 - 11:19
Arizona’s efforts to combat opioid abuse are getting a $3.1 million boost from federal taxpayers. The U.S. Department of Health Services says the funding provided the state Department of Health Services is included in $144.1 million of grants awarded nationwide …

Lawsuit Filed against Google by Three Former Female Employees in California

Mon, 09/18/2017 - 11:17
Google faces a new lawsuit accusing it of gender-based pay discrimination. A lawyer representing three female former Google employees is seeking class action status for the claim. The suit, filed in San Francisco Superior Court, follows a federal labor investigation …

California Governor Signs Plan to Spend $1.5B in Climate Money

Mon, 09/18/2017 - 11:14
California Gov. Jerry Brown has signed two bills that outline a plan to spend $1.5 billion on environmental initiatives using money from the state’s recently renewed cap and trade program. The bills were signed over the weekend, soon after lawmakers …

How One German Company Is Making Workplace Robots Safer for Humans

Mon, 09/18/2017 - 10:49
Two years ago, a robot crushed a 22-year-old man to death at a Volkswagen AG factory in Germany after the maintenance worker became trapped in an area usually off-bound to humans. While this type of tragedy is still relatively rare, …

Audi Goes Full Speed on Automated Driving, While Competitors Wary of Liability, Regulation

Mon, 09/18/2017 - 09:19
German carmaker Audi is taking a lead in bringing more automated driving to roads, but rivals seem in no rush to follow while legal and regulatory uncertainties still cloud the technology. At the Frankfurt car show, Audi paraded the A8 …

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