Thu, 27 Apr 2017 17:00:35 +0000
Marsh & McLennan Companies Inc. (MMC) reported financial results for the first quarter ended March 31, including 5 percent revenue growth at Marsh and 4 percent at Guy Carpenter, its Risk and Insurance divisions.   “With a strong start to the year, ...
Thu, 27 Apr 2017 16:23:55 +0000
Police in El Paso, Texas, say seven current and former employees of an auto dealership have been arrested for running a series of illegal schemes that included taking vehicles from the lot and stealing tires. Authorities said in a news …
Thu, 27 Apr 2017 16:19:49 +0000
A Houston-based pipeline company continued cleanup at the site of a nearly 19,000-gallon oil spill in northwest Oklahoma that threatened a local water supply over the weekend. Crews from Plains All American Pipeline were at the site in rural Loyal, …
Thu, 27 Apr 2017 15:18:29 +0000
Private equity firm Warburg Pincus said Dominic Casserley has joined the firm as a senior advisor in its Financial Services Group.  Casserley formerly CEO of Willis Group Holdings, will help evaluate new investment opportunities in the financial servi...
Thu, 27 Apr 2017 15:00:08 +0000
California lawmakers are considering an audacious proposal that would substantially remake the state’s health care system by eliminating insurance companies and guaranteeing coverage for everyone. The idea known as single-payer healthcare has long been...
Thu, 27 Apr 2017 14:55:03 +0000
Regulators say they have fined Pacific Gas and Electric Co. $8.3 million for failing to maintain a power line that sparked a massive blaze in Northern California that destroyed 549 homes and killed two people. The California Public Utilities Commission …
Thu, 27 Apr 2017 14:52:24 +0000
A company in California’s Bay Area that sells home oxygen equipment has agreed to pay more than $11 million to settle allegations that it profited from filing false reimbursement claims with the government. The San Francisco Chronicle reported the Just...
Thu, 27 Apr 2017 14:43:59 +0000
The Massachusetts Supreme Judicial Court (SJC) has upheld a Superior Court decision that defendant, Norfolk & Dedham Mutual Fire Insurance Co., did not engage in unfair settlement practices in its handling of a personal injury claim. The SJC also reve...
Thu, 27 Apr 2017 13:43:38 +0000
A U.S. Congressional banking panel is moving to advance legislation that would overhaul how the government regulates the financial sector, although it faces obstacles towards becoming law. Representative Jeb Hensarling, who chairs the House Financial S...
Thu, 27 Apr 2017 13:06:11 +0000
A fire has heavily damaged the upstate New York mill owned by a Cooperstown-based wood baseball bat company. Emergency officials in Otsego County say the fire was reported around 6 p.m. Monday at Cooperstown Bat Co.’s mill in the town …
Thu, 27 Apr 2017 13:01:02 +0000
A federal appeals court has upheld $250,000 in damages against Pan Am Railways, saying the company illegally retaliated against a Maine employee. The Portland Press Herald reports conductor Jason Raye told his supervisors about a pile of railroad ties ...
Thu, 27 Apr 2017 12:55:08 +0000
A teenager who has been in and out of the hospital with mental health problems since the death of a friend in a massive fire the boys started was sentenced Tuesday to a year of probation. A Family Court judge …
Thu, 27 Apr 2017 12:49:47 +0000
Octo Telematics is making available a distracted driving scoring and analysis feature within its suite of telematics products used by its more than 60 auto insurer customers. The scoring feature is available for both in-vehicle and mobile solutions tha...
Thu, 27 Apr 2017 12:37:41 +0000
JPMorgan Chase & Co. is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on …
Thu, 27 Apr 2017 11:05:13 +0000
Pen Underwriting has formed a new strategic partnership with specialist insurer Markel International to further consolidate Pen’s presence in the UK equestrian market and drive the company’s product innovation in the sector. Markel is an established an...
Thu, 27 Apr 2017 10:31:13 +0000
Willis Towers Watson has released an updated version of “Unify,” the systems integration and workflow platform. Unify 2.0 introduces new features in response to the tightening of reporting timescales under Solvency II, which continue to pressure insure...
Thu, 27 Apr 2017 10:09:41 +0000
A windstorm that hit eastern Newfoundland on March 11, 2017 has resulted in almost C$45 million (US$32.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting statistics from Catastrophe Indices and Quantificatio...
Thu, 27 Apr 2017 09:55:08 +0000
Hamilton Re, the Bermuda platform of Hamilton Insurance Group, announced the following appointment and senior role changes in its management team: Minesh Shah has joined Hamilton Re in the newly created role of senior vice president, Actuary. Shah r...
Thu, 27 Apr 2017 07:35:03 +0000
Hackers are demanding increasingly hefty ransoms to free computers paralyzed with viruses, as cyber criminals seek to maximize profits from large numbers of victims willing to pay up, according to cyber security firm Symantec Corp. The average dema...
Thu, 27 Apr 2017 07:20:42 +0000
Political risk is the biggest concern this year for insurers globally, following several shock outcomes in 2016, a survey of insurers managing $10 trillion in assets showed on Thursday. Political events have overtaken issues such as worries about an ...
Thu, 27 Apr 2017 05:00:54 +0000
If Peter Duncanson is on the scene, it’s probably not pretty. It could be a CSI-like crime scene with spattered blood and skin fragments on the sofa and wall. Or a trauma scene where an injured employee or animal traipsed …
Thu, 27 Apr 2017 04:28:32 +0000
The National Weather Service confirms two tornadoes hit Mississippi’s northeast corner on Saturday. A survey shows that a twister with top winds of 90 mph (145 kph) struck Prentiss County around 2:35 p.m. The tornado, rated EF-1 on the enhanced …
Thu, 27 Apr 2017 04:26:55 +0000
People in North Carolina were paying attention to rising rivers on Tuesday after storms dumped several inches of rain across much of the state – the worst drenching since a damaging hurricane late last year. The state’s heaviest rainfall since …
Thu, 27 Apr 2017 04:21:26 +0000
The U.S. Department of Agriculture says a Memphis meat packer has recalled some ready-to-eat ham products due to possible bacterial contamination. The USDA’s Food Safety and Inspection Service said in a news release Tuesday that the recall includes rea...
Thu, 27 Apr 2017 04:02:23 +0000
A bill aimed at decreasing insurance claims abuse in Florida has made it through the Florida House, and the industry’s hope for assignment of benefits reform now officially rests with the state Senate. The Florida House of Representatives advanced House …
Thu, 27 Apr 2017 00:17:57 +0000
Dallas-based ITS, an insurance consulting and services firm specializing in the design, implementation and utilization of technology to optimize critical business processes and achieve exceptional results, reported it has expanded the responsibilities...
Thu, 27 Apr 2017 00:16:35 +0000
A Detroit-area hospital has agreed to pay $791,000 to settle allegations that it billed for unnecessary lab tests. The case against Crittenton Hospital Medical Center is linked to Dr. Farid Fata. He’s serving a 45-year prison sentence for putting patie...
Thu, 27 Apr 2017 00:14:59 +0000
The family of a BNSF Railway employee killed in an accident in western South Dakota is suing the railroad, alleging it failed to protect him from being hit by a train while he was clearing snow and ice from a …
Thu, 27 Apr 2017 00:12:52 +0000
Florida-based personal Lines independent insurance agency Brightway Insurance has opened two new branches in Texas. Brightway, The Lowry Agency, led by Robert Lowry, is located Spring, Texas. Brightway, The Young Agency, led by Benjamin Young, is locat...
Thu, 27 Apr 2017 00:11:43 +0000
The Indiana Supreme Court ruled that a wounded police officer can’t sue a sporting goods store that sold a handgun that was later used to shoot him. The Indianapolis Star reported the court has dismissed Indianapolis Officer Dwayne Runnels’ lawsuit …