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Donaghy Joins Iowa’s Crop Pro Insurance as Director of Data Science

Fri, 09/15/2017 - 12:01
Crop Pro Insurance, a Des Moines, Iowa-based managing general agent (MGA) specializing in crop insurance, has expanded its experienced leadership team with the addition of Brian Donaghy as director of Data Science. Donaghy brings more than 20 years of experience …

Buchanan Promoted to VP at RHSB in Dallas

Fri, 09/15/2017 - 12:00
Keleigh Buchanan was recently promoted to vice president at Dallas-based independent insurance broker, RHSB. She has been with RHSB for five years and has 16 years of experience in the insurance industry. Buchanan is a licensed insurance professional working with …

ICT Pegs Hurricane Harvey Insured Losses at $19B

Fri, 09/15/2017 - 11:59
The Insurance Council of Texas (ICT) has placed the insured losses from Hurricane Harvey at $19 billion. That number includes an estimated $11 billion in flood losses insured by the National Flood Insurance Program. Insured windstorm and other storm-related property …

Workers’ Comp Loss Costs to Fall 16.3% in Oklahoma Next Year

Fri, 09/15/2017 - 11:45
Workers’ compensation loss costs for 2018 will decrease by 16.3 percent in Oklahoma according to a filing by the National Council on Compensation Insurance (NCCI), the Oklahoma Workers’ Compensation Commission (WCC) reported. Loss costs are an insurance industry term for …

California Worker’s Comp Insurer Written Premium Down 4% in First Half of 2017

Fri, 09/15/2017 - 11:11
The Workers’ Compensation Insurance Rating Bureau has completed its report on statewide workers’ comp insurer loss and premium experience through June 30. The major findings of the report include: California written premium for the first half of 2017 was $9.1 …

Fines for Workplace Deaths in Nevada Reduced Often

Fri, 09/15/2017 - 10:57
Companies that contested Nevada workplace safety citations after an employee died on the job received reduced fines about half the time. An analysis of state and federal Occupational Safety and Health Administration fatality records by the Las Vegas Review-Journal showed …

Arizona Supreme Court Won’t Review Lower Court Ruling on Medical Marijuana

Fri, 09/15/2017 - 10:52
The Arizona Supreme Court is letting stand a lower court’s ruling that the state’s medical marijuana law is constitutional in requiring counties to approve reasonable zoning regulations. Maricopa County Attorney Bill Montgomery had appealed a Court of Appeals ruling last …

FTC, Congress, States Investigating Equifax Over Data Breach

Fri, 09/15/2017 - 09:54
The U.S. Federal Trade Commission and a powerful Congressional committee are investigating the data breach at Equifax Inc., deepening government scrutiny of the cyber attack that may have compromised the privacy of 143 million U.S. consumers. The probes by the …

Google Faces Lawsuit Alleging Employment Bias Against Women

Fri, 09/15/2017 - 09:40
Three female former employees of Alphabet Inc.’s Google filed a lawsuit on Thursday accusing the tech company of discriminating against women in pay and promotions. The proposed class action lawsuit, filed in California state court in San Francisco, comes as …

How New EU Rules Make It Tougher for Insurers, Hedge Funds to Manage Currency Risk

Fri, 09/15/2017 - 09:30
New European Union regulations on foreign exchange trading will make it harder and more expensive to manage currency risk, traders said, especially for large financial counterparties such as hedge funds and insurance companies. The regulations will impose “variation margins” on …

AIA and Zurich Make Separate Bids for Australian Insurance Businesses: Reuters

Fri, 09/15/2017 - 09:22
Hong Kong-based insurance giant AIA Group Ltd. has shown interest in buying Commonwealth Bank of Australia’s insurance business, which is likely to be valued at about $4 billion, people with knowledge of the matter said. Separately, Zurich Insurance Group AG …

Fire Destroys Large Section of New York Motel

Fri, 09/15/2017 - 09:22
Investigators are trying to determine what caused a fire that destroyed a large section of a northern New York motel in the heart of a popular Thousand Islands tourist destination. Officials say the fire broke out around 12:30 a.m. Wednesday …

Standard Chartered Meets with British Authority Overt Indonesia Bribe Allegations

Fri, 09/15/2017 - 09:16
Standard Chartered was to meet Britain’s Financial Conduct Authority this week over allegations of corruption at an Indonesian power plant company majority-owned by its private equity arm, a source familiar with the matter said on Monday. The bank in September …

Uninsured Rate Keeps Dropping in Pennsylvania, Census Says

Fri, 09/15/2017 - 09:12
The number of people without health insurance in Pennsylvania continues to decline, reaching what Democratic Gov. Tom Wolf’s office says is the lowest uninsured rate on record. U.S. Census Bureau data released this week shows Pennsylvania’s 2016 uninsured rate at …

Pennyslvania’s Ascinsure Hires Goff as Senior Vice President

Fri, 09/15/2017 - 08:55
Ascinsure Specialty Risk LLC, based in Pittsburgh, Penn., has hired Michael Goff to join the Ascinsure team as its senior vice president. Within this role, Goff will manage Ascinsure’s underwriting and wholesale divisions, including spearheading business development goals and overseeing …

Obama Coal Ash Waste Regulation Getting New Look by Trump EPA

Fri, 09/15/2017 - 08:35
The U.S. Environmental Protection Agency on Thursday said it will reconsider a rule regulating coal ash waste from power plants in a win for utility industry groups that petitioned for changes. The EPA, the lead environmental regulator in the United …

Driverless Vehicle Makers Get to Steer Own Safety Oversight

Fri, 09/15/2017 - 08:30
The U.S. Transportation Department unveiled a new policy that permits companies developing autonomous vehicles to self-police the technology’s safety, a move that drew plaudits from automakers but criticism from safety advocates. Transportation Secretary Elaine Chao said the policy incorporates concerns …

Axa Eyes Options for European Asset Management Unit

Fri, 09/15/2017 - 08:21
French insurer Axa SA is reviewing options for its European asset management unit amid consolidation in the sector, according to people familiar with the matter. Axa is considering a merger or joint venture for the business, the people said, asking …

Kentucky Woman’s Death Attributed to Legionnaires’ Outbreak at Graceland Hotel

Fri, 09/15/2017 - 01:18
A Kentucky woman was sickened by Legionnaires’ disease after staying at a hotel near the Tennessee home of famed singer Elvis Presley and later died, and an autopsy says the pneumonia caused her death. The Commercial Appeal reports the 62-year-old …

8 Patients Killed in Florida Nursing Home After Irma-Related Power Outages

Fri, 09/15/2017 - 00:47
Eight patients at a sweltering nursing home died after Hurricane Irma knocked out the air conditioning, raising fears about the safety of Florida’s 4 million senior citizens amid power outages that could last for days. Hollywood Police Chief Tom Sanchez …

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